Part 4
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM U-3A-2
File No. 69-344
Statement by Holding Company
Claiming Exemption Under Rule U-3A-2
from the Provisions of the
Public Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
EDISON INTERNATIONAL
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as
a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the
following information:
1
1. NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF CLAIMANT AND EVERY SUBSIDIARY THEREOF, OTHER
THAN ANY EXEMPT WHOLESALE GENERATOR (EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY OR INDIRECTLY
HOLDS AN INTEREST.
HOLDING COMPANY
---------------
00 EDISON INTERNATIONAL is a corporation organized under the laws of the State of California and having its
principal place of business at 2244 Walnut Grove Avenue (P.O. Box 999), Rosemead, California 91770. It
was organized principally to acquire and hold securities of other corporations for investment purposes.
Edison International has the following subsidiaries:
UTILITY SUBSIDIARIES
--------------------
01 SOUTHERN CALIFORNIA EDISON COMPANY ("SCE") is a California corporation having its principal place of
business at 2244 Walnut Grove Avenue (P.O. Box 800), Rosemead, California 91770. SCE is a public utility
primarily engaged in the business of supplying electric energy to portions of central and southern
California, excluding the City of Los Angeles and certain other cities. Unless otherwise indicated, its
subsidiaries have the same principal place of business as Southern California Edison Company:
02 CALIFORNIA ELECTRIC POWER COMPANY (inactive).
02 CONSERVATION FINANCING CORPORATION is a California corporation engaged in the remediation and
mitigation of environmental liabilities.
02 EDISON ESI is a California corporation engaged in the business of marketing services, products,
information, and copyrighted materials to third parties on behalf of SCE.
02 Edison Material Supply is a Delaware limited liability company that provides procurement, inventory and
warehousing services.
02 MONO POWER COMPANY is an inactive California corporation that has been engaged in the business of
exploring for and developing fuel resources.
03 The Bear Creek Uranium Company is an inactive California partnership between Mono Power Company
(50%) and Union Pacific Resources (50%) that has been engaged in reclamation of an integrated
uranium mining and milling complex in Wyoming.
02 SCE CAPITAL COMPANY (inactive Delaware corporation).
02 SCE Funding LLC is a Delaware limited liability company that acts as a financing vehicle for rate
reduction bonds.
02 SCE Trust I is a Delaware business trust organized to act as a financing vehicle.
02 SCE Trust II is a Delaware business trust organized to act as a financing vehicle.
02 SCE UK Services Ltd. is a United Kingdom private limited company having its registered office at
Lansdowne House, Berkeley Square, London, England W1X 5DH, which provides auditing services for
affiliated companies.
02 SOUTHERN STATES REALTY is a California corporation engaged in holding real estate assets for SCE.
2
NONUTILITY SUBSIDIARIES
-----------------------
01 EDISON DRIVES ELECTRIC is a California corporation having its principal place of business at 2244 Walnut
Grove Avenue, Rosemead, California 91770, which is engaged in administering a vehicle lease program for
Edison International employees.
01 EDISON ENERGY (inactive)
01 EDISON INSURANCE SERVICES, INC., is a Hawaii corporation having its principal executive office at 1099
Alakea Street, 22nd Floor, Honolulu, Hawaii 96813, which provides domestic and foreign property damage and
business interruption insurance to Edison International and its subsidiaries.
01 EDISON INTERNATIONAL POWER (inactive)
01 EDISON VENTURES is a California corporation having its principal place of business at 2244 Walnut Grove
Avenue, Rosemead, California 91770, which owns the stock and coordinates the activities of its nonutility
subsidiaries. The subsidiaries of Edison Ventures are as follows:
02 EDISON TRANSENERGY is a California corporation having its principal place of business at 2244 Walnut
Grove Avenue, Rosemead, California 91770, which is engaged in pipeline development activities to
transport crude oil.
01 EIX Trust I is a Delaware business trust that acts as a financing vehicle.
01 EIX Trust II is a Delaware business trust that acts as a financing vehicle.
01 EIX Trust III is a Delaware business trust organized to act as a financing vehicle.
01 THE MISSION GROUP is a California corporation having its principal place of business at 2244 Walnut Grove
Avenue, Rosemead, California 91770, which owns the stock and coordinates the activities of nonutility
companies. The subsidiaries of The Mission Group are as follows:
02 EDISON ENTERPRISES is a California corporation having its principal place of business at 2244 Walnut
Grove Avenue, Rosemead, California 91770, which owns the stock and coordinates the activities of its
nonutility subsidiaries. The subsidiaries of Edison Enterprises are as follows:
03 EDISON SOURCE is a California corporation having its principal place of business at 18101 Von
Karman Avenue, Suite 1700, Irvine, California 92612-1046, which owns the stock of its
subsidiaries. The majority of the assets of Edison Source were sold to its former management in
October 2001.
04 Edison Source Norvik Company is a Canadian company having its principal place of business at
1959 Upper Water Street, Suite 800, Halifax, NS B3J 2X2. It is engaged in the business of
providing rapid battery charging technology for the electric fork lift market.
04 G.H.V. REFRIGERATION, INC. is an inactive California corporation having its principal place of
business at 2244 Walnut Grove Avenue, Rosemead, California 91770.
03 EDISON SELECT was a California corporation that had its principal place of business at 955 Overland
Court, San Dimas, California 91773. It was engaged in the business of providing consumer products
and services. This entity and its subsidiaries were sold to Tyco International Ltd./ADT Security
Services, Inc. in August 2001.
04 EDISON HOME PROTECTION COMPANY (Inactive)
04 SELECT HOME WARRANTY COMPANY (Inactive)
04 EDISON SECURITY CORP. [formerly Westec Residential Security, Inc.] was a Delaware corporation
that had its principal place of business at 955 Overland Court, San Dimas, California 91773. It
was engaged in the business of providing home security services.
3
04 VALLEY BURGLAR & FIRE ALARM CO., INC. was a California corporation that had its principal place
of business at 955 Overland Court, San Dimas, California 91773. It was engaged in the business
of providing home security services.
03 EDISON UTILITY SERVICES was a California corporation that had it principal place of business at 955
Overland Court, San Dimas, California 91773. It was engaged in the business of providing services
including billing and transmission and distribution outsourcing. This entity was sold to SRM-ENCO
LLC in January 2001.
02 EDISON ENVIRONMENTAL SERVICES is an inactive California corporation having its principal place of
business at 2244 Walnut Grove Avenue, Rosemead, California 91770.
02 EDISON O&M SERVICES is a California corporation having its principal place of business at 1321 South
State College Boulevard, Fullerton, California 92831, that provides generation operation and
maintenance services.
02 EDISON TECHNOLOGY SOLUTIONS ("ETS") is an inactive California corporation having its principal place of
business at 2244 Walnut Grove Avenue, Rosemead, California 91770. The subsidiaries of Edison
Technology Solutions are as follows:
03 EDISON EV is an inactive California corporation having its principal place of business at 2244
Walnut Grove Avenue, Rosemead, California 91770.
03 FACILICHEM, INC., is a California corporation having its principal place of business at 333
Ravenswood Avenue, Menlo Park, California 94025, which was organized to engage in the research,
development and commercialization of liquid membrane technologies for application in specific
industrial and chemical processes. ETS has a 10% ownership interest with an option to increase
that interest to 16.66%
02 EDISON CAPITAL is a California corporation having its principal place of business at 18101 Von Karman
Avenue, Suite 1700, Irvine, California 92612-1046. It is engaged in the business of leveraged-leasing
transactions and other project financings, either directly or through subsidiaries. Edison Capital
owns a group of subsidiaries and has interests in various partnerships through its subsidiaries. The
subsidiaries and partnerships of Edison Capital are listed below. Unless otherwise indicated, all
entities are corporations, are organized under the laws of the State of California, and have the same
principal place of business as Edison Capital.
03 BURLINGTON APARTMENTS, INC.
03 Edison Capital Europe Limited (UK corporation)
Address: Lansdowne House, Berkeley Square, London, England W1X 5DH
03 EDISON CAPITAL VENTURES
03 EDISON FUNDING COMPANY
[directly owns 0.08% of Edison Funding Omicron Incorporated; see listing under Edison Housing
Consolidation Company)
04 EDISON CAPITAL HOUSING INVESTMENTS
[directly owns 0.35% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
[directly owns 35.52% of Edison Funding Omicron Incorporated; see listing under Edison Housing
Consolidation Co.]
05 1st Time Homebuyer Opportunities LP (Chester County Homes) 99%
05 1732 Champa LP (Buerger Brothers Lofts) 99%
05 18303 Kittridge Associates LP 99%
05 210 Washington Avenue Associates (Renaissance Plaza) (Connecticut partnership) 99%
05 2400 Locust Associates LP (Locust on the Park) 99%
05 3790 Wisconsin Street Partners LP (Wisconsin III) 99.9%
05 Argyle Redevelopment Partnership, Ltd. (Colorado partnership) 99%
4
05 Auburn Manor L.L.C. 50%
05 Bartlett Hill Associates LP 99%
05 CCS/Bellingham LP (Washington Grocery Building) 99%
05 Cincinnati Ravenwood Apartments LP 99%
05 Conejo Valley Community Housing Associates (Community House Apartments) 99%
05 EAST COAST CAPITAL, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
05 EC ASSET SERVICES, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
05 EC PROPERTIES, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
06 Corporations for Affordable Housing LP 1%GP
07 Arbor Lane Associates Phase II LP (Timberwood) 99%
07 Arroyo Vista Associates LP 99%
07 Artloft Associates LP 35.6%
07 Caleb Affordable Housing Associates LP (Ledges/Pinebrook) 99%
07 The Carlin LP 99%
07 Diamond Phase III Venture LP 99%
07 Fairmont Hotel Urban Renewal Associates LP 99%
07 Mackenzie Park Associates LP 99%
07 Parkside Associates LP (Parkside Garden) 99%
07 Pines Housing LP 99%
07 Pines Housing II, LP 99%
07 Smyrna Gardens Associates LP 99%
07 Tioga Gardens LP 99%
07 Walden Pond, LP (Hamlet) 99%
06 Corporations for Affordable Housing LP II 1%GP
07 2601 North Broad Street Associates LP (Station House) 99%
07 Artloft Associates LP 53.39%
07 Brookline Housing Associates LLC (Bridgewater) 99%
07 EDA LP (Eagle's Nest) 99%
07 Edgewood Manor Associates II LP 99%
07 Gateway Housing LP (Gateway Townhomes) 99%
07 Homestead Village Associates LP 99%
07 Junction City Apartments LP (Green Park) 99%
07 Liberty House Associates LP 99%
07 Maple Ridge Development Associates LP 99%
07 Parsonage Cottage Senior Residence LP 99%
07 Rittenhouse School LP 99%
07 Silver City Housing LP 99%
07 South 55th Street, LP 99%
07 W. M. Housing Associates LP (Williamsport Manor) 99%
07 Winnsboro Apartments LP (Deer Wood) 99%
05 EC PROPERTIES III, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
06 Corporations for Affordable Housing LP III 1%GP
07 Piedmont Housing Associates 99%
07 Pines Housing III 99%
07 Salem Lafayette Urban Renewal Associates, LP 99%
07 Spring Valley Commons LP 99%
07 Stevenson Housing Associates (Park Vista) 99%
05 EC-SLP, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
05 ECHI-A COMPANY
05 ECHI-B COMPANY
05 ECHI Wyvernwood, Inc.
05 ECH/HFC GP Partnership No. 1 34.9%GP
06 Edison Capital Housing Partners VII LP 19.4%GP
07 C-Court LP (Cawelti Court) 99%
07 Cottonwood Affordable Housing LP 99%
5
07 Fifth and Wilshire Apartments LP 99%
07 Flagstaff Affordable Housing II, LP (Forest View Apts.) 99%
07 Huff Avenue Associates LP 99%
07 Mountain View Townhomes Associates LP 99%
07 Oak Forest Associates LP 99%
07 Paradise Road Partners LP (Gateway Village) 99%
07 Woodland Arms Apartments, Ltd. 99%
05 ECH/HFC GP Partnership No. 2 56.7%GP
06 Edison Capital Housing Partners VIII LP 18.54%GP
07 Catalonia Associates LP 99%
07 Ohlone Housing Associates LP 99%
05 ECHP INVESTMENT COMPANY
06 ECHP LLC
07 Edison Capital Housing Partners XVI LP 0.01%GP
08 Bouquet Canyon Seniors LP 99%
08 Diamond Creek Apartments LP 99.9%
08 Eugene Hotel LP 99.9%
08 Hilltop Farms LP 99.9%
08 KDF Park Glenn LP (Park Glenn) 99%
08 KDF Park Glenn Seniors LP (Park Glenn II) 99.9%
08 King Road Associates LP 99.9%
08 LL Housing LP (Maryland partnership) (Laurel Lakes) 99%
08 Red Lake LP #1 99%
08 San Martin de Porres LP 99.9%
08 Southern Hotel LP 99.9%
08 Terra Cotta Housing Associates LP 99.9%
07 Edison Capital Housing Partners XVII LP 0.01%GP
08 Antelope Associates LP 99%
08 Baker Park Associates LP 99%
08 Fremont Building LP (Crescent Arms) 99%
08 Hercules Senior Housing Associates 99.9%
08 La Terraza Associates LP (Carlsbad Villas at Camino Real) 99%
08 Parkview Apartments Associates LP (Parkview/Sunburst) 99.9%
08 Quebec Arms Apartments LP 99.9%
08 Sky Parkway Housing Associates LP 99%
08 Sunset Creek Partners LP 99%
08 University Manor Apartments LP 99.9%
08 Vista Verde Housing Associates LP 99.9%
07 Edison Capital Housing Partners XVIII LP 0.01%GP
08 Aaron Michael Associates LP 99.9%
08 Bracher Associates LP 99%
08 Florin Woods Associates LP 99%
08 Lovejoy Station LP 99.9%
08 OL Hope LP (Olympic Hope) 99.9%
08 Palmer Heights, LLC 99
08 Pinmore Associates LP 99%
08 SD Regency Centre LP 99.9%
07 Edison Capital Housing Partners XIX LP 0.01%GP
08 Cochrane Village Apartments LP 99%
08 CCS/Mount Vernon Housing LP (La Venture) 99%
08 Ontario Senior Housing LP (Ontario Plaza) 99%
08 Pecan Court Associates LP 99.9%
08 Pellettieri Homes Urban Renewal Associates, LP 99%
08 Rincon De Los Esteros Associates LP 99%
08 KDF Santa Paula LP (Santa Paula) 99%
08 Schoolhouse Court Housing Associates LP 99.9%
08 Virginia Lane LP 99.9%
08 Winfield Hill Associates LP 99%
05 EDISON CAPITAL AFFORDABLE HOUSING 97 V
05 EDISON CAPITAL AFFORDABLE HOUSING 97 VI
6
05 EDISON CAPITAL AFFORDABLE HOUSING 97 VII
05 EDISON CAPITAL AFFORDABLE HOUSING 97 VIII
05 EDISON CAPITAL AFFORDABLE HOUSING 99A COMPANY
05 Edison Capital Affordable Housing 99A G.P. 27.69%GP
06 Edison Capital Housing Partners IX LP 13.5533%GP
07 1010 SVN Associates LP 99.9%
07 2814 Fifth Street Associates LP (Land Park Woods) 99%
07 Alma Place Associates LP 99%
07 Knolls Community Associates LP 99.9%
07 Monterra Village Associates LP 99%
07 Pacific Terrace Associates LP 99.9%
07 PVA LP (Park Victoria) 99%
07 Sherman Glen, L.L.C. 99%
07 Strobridge Housing Associates LP 99%
07 Trolley Terrace Townhomes LP 99.9%
07 Walnut Avenue Partnership LP 99%
05 EDISON CAPITAL AFFORDABLE HOUSING 99B COMPANY 99.99%
05 Edison Capital Affordable Housing 99B G.P. 99.99%GP
06 Edison Capital Housing Partners X LP 19.3952%GP
07 Beacon Manor Associates LP 99.9%
07 Boulder Creek Apartments LP 99.9%
07 Burlington Senior Housing LLC 99.9%
07 CCS/Renton Housing LP (Renton) 99.9%
07 Coolidge Station Apartments L.L.C. 99%
07 Lark Ellen LP 99%
07 Mercy Housing California IX LP (Sycamore) 99.9%
07 Morgan Hill Ranch Housing LP 99%
07 Pacifica Community Associates LP (Villa Pacifica) 99.9%
07 Persimmon Associates LP 99%
07 Providence-Brown Street Housing LP (Brown Street) 99.9%
07 San Juan Commons 1996 LP 99.9%
07 Timber Sound, Ltd. 99%
07 Timber Sound II, Ltd. 99%
07 Trinity Park Apartments LP 99.9%
07 Venbury Trail LP 99.9%
06 Edison Capital Housing Partners XI LP 18.62486%GP
07 1475 167th Avenue Associates LP (Bermuda Gardens) 99.9%
07 Auburn Manor Apartments LP 99.9%
07 Barnsdall Court LP (Villa Mariposa) 99%
07 Borregas Court LP 99%
07 Bryson Family Apartments LP 99.9%
07 Carson Housing LP 98%
07 Casa Rampart LP (Rampart Apartments) 98.9%
07 Davis MHA Twin Pines Community Associates LP (Northstar Apartments) 99%
07 Eastwood Homes LP 99%
07 Electra Arms Senior Associates LP 99%
07 Grace Housing LP 99%
07 Stony Point Apartment Investors LP (Panas Place) 99.9%
07 Wall Street Palmer House LP 99%
07 Wilmington Housing Associates LP (New Harbor Vista) 99.9%
06 Edison Capital Housing Partners XII LP 13.73759%GP
07 Cedarshores Limited Dividend Housing Association LP 98.99%
07 Heritage Partners LP 99%
07 Osage Terrace LP 99.89%
07 West Oaks Apartments LP 99.9%
07 Yale Street LP 99.9%
06 Edison Capital Housing Partners XIII LP 17.03513%GP
07 Alhambra Apartments LP 99.9%
07 Chamber Apartments LP 99%
07 Park Land Senior Apartments Investors LP (Banducci) 99.9%
7
07 President John Adams Manor Apartments LP 99.9%
07 Riverwalk Apartments, Ltd. (Colorado) 99%
07 Rosecreek Senior Living LP 99.9%
07 Twin Ponds Apartments LP 99.9%
07 Woodleaf Village LP 98.99%
07 Women's Westlake LP (Dorothy Day) 99%
06 Edison Capital Housing Partners XIV LP 7.61%GP
07 Apollo Development Associates LP (Apollo Hotel) 99.9%
07 Carson Terrace LP 99.9%
07 Don Avante Association II LP (Village Avante) 99.9%
07 Preservation Properties I 99.9%
07 Preservation Properties II 99.9%
07 Preservation Properties III 99.9%
07 Preservation Properties IV 99.9%
07 Preservation Properties V 99.9%
07 Rowland Heights Preservation LP 99.9%
07 Springdale Preservation LP (Springdale West) 99.9%
06 Edison Capital Housing Partners XV LP 9.567%GP
07 708 Pico LP (Wavecrest Apartments) 99.9%
07 Benton Green LP 99.9%
07 Don Avante Association I LP (Don de Dios) 99.9%
07 Emmanuel Grant Company LLC (Capitol Heights) 99.9%
07 Highland Village Partners LP 99.9%
07 I.G. Partners LP (Islands Gardens) 99.9%
07 Karen Partners LP 99.9%
07 Lilac Estates LP 99.9%
07 Mountainlands Housing Partners LP (Holiday Village Apartments) 99.9%
07 NAHF Brockton LP (Southfield Gardens) 99.9%
07 Northern Senior Housing LP (St. Johnsbury) 99.9%
07 Park Place 1998, LLC 99.9%
07 Park Williams Partners LP 99.9%
07 Patriots Pointe at Colonial Hills LP 99.9%
07 PlumTree Preservation LP 99.9%
07 Poinsettia Housing Associates 99.9%
07 Project Home I LLC 99.99%
07 Saratoga Vacaville LP (Saratoga Senior) 99.9%
07 Serena Sunbow LP (Villa Serena) 99.9%
07 St. Regis Park LP (Pear Tree) 99.9%
07 Vista Sonoma Senior Living LP 99.9%
07 Westfair LLC (Cedar Ridge) 99.9%
07 Windrush Apartments of Statesville LP 99.9%
07 Wingate LLC (Regency Park) 99.9%
05 Edison Capital Contributions VI Partners 91.77%GP
06 ECH Investor Partners VI-A LP 15.39%GP
07 Edison Capital Housing Partners VI LP 61.82%GP
08 Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
08 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
08 Altamont Hotel Associates LP 99%
08 Bradley Manor Senior Apartments LP 99%
08 Double X Associates 1995 LP (Terrace Manor) 99%
08 Hamilton Place Apartments LP (Larkin Place) 99%
08 Hamilton Place Senior Living LP 99%
08 Hearthstone Group 3 LP (Evergreen Court) 99%
08 KDF Malabar LP 99%
08 LINC-Bristol Associates I, LP (City Gardens) 99%
08 MAS-WT, LP (Washington Terrace) 99%
08 Northwood Manor Associates LP 99%
08 Silver Lake Properties LP 99%
08 University Park Properties LP 99%
08 Upland Senior Housing LP (Coy D. Estes) 99%
8
08 Vista Properties LLC (Vista View) 99%
08 Vista Verde Townhomes II LLC 99%
06 ECH Investor Partners VI-B LP 100%GP
07 Edison Capital Housing Partners VI LP 37.18%GP
08 Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
08 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
08 Altamont Hotel Associates LP 99%
08 Bradley Manor Senior Apartments LP 99%
08 Double X Associates 1995 LP (Terrace Manor) 99%
08 Hamilton Place Apartments LP (Larkin Place) 99%
08 Hamilton Place Senior Living LP 99%
08 Hearthstone Group 3 LP (Evergreen Court) 99%
08 KDF Malabar LP 99%
08 LINC-Bristol Associates I, LP (City Gardens) 99%
08 MAS-WT, LP (Washington Terrace) 99%
08 Northwood Manor Associates LP 99%
08 Silver Lake Properties LP 99%
08 University Park Properties LP 99%
08 Upland Senior Housing LP (Coy D. Estes) 99%
08 Vista Properties LLC (Vista View) 99%
08 Vista Verde Townhomes II LLC 99%
05 EDISON CAPITAL HOUSING DELAWARE, INC.
06 B.A.I. Edison Ravenwood LP (Ravenwood) 90%GP
07 Cincinnati Ravenwood Apartments LP 0.1%GP
05 Edison Capital Housing Partners V LP 100%GP
06 AMCAL Santa Barbara Fund XXXVI LP (Positano) 99%
06 Bodega Hills Investors LP 99%
06 Mercy Housing California IV LP (Vista Grande) 99%
06 Park Place Terrace LP 99%
06 River Walk Apartments Homes LP 99%
06 San Diego Golden Villa Partners LP (Golden Villa) 99%
06 Santa Alicia Gardens Townhomes LP (The Gardens) 99%
06 St. Hedwig's Gardens LP 99%
06 Sunshine Terrace LP 99%
06 Union Meadows Associates LLC 99%
05 EDISON CAPITAL HOUSING FLORIDA
05 EDISON CAPITAL HOUSING MANAGEMENT
05 EDISON CAPITAL HOUSING NEW JERSEY
[owns 6.16% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05 EDISON CAPITAL HOUSING NEW YORK
06 WPA/Edison LLC (Pier A) 99%
05 EDISON CAPITAL HOUSING PENNSYLVANIA
[owns 5.26% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05 EDISON FUNDING OMICRON INCORPORATED (Delaware corporation) (formerly Edison Funding Omicron GP)
55.52% [also owned 0.08% by Edison Funding Company and 44.40% by Edison Housing Consolidation Co.]
06 EDISON FUNDING OLIVE COURT 100%
07 Olive Court Housing Associates LP 0.6%
05 EDISON HOUSING NORTH CAROLINA
06 Edison Capital Contributions VI Partners 4.03%
07 ECH Investor Partners VI-A LP 15.39%GP
08 Edison Capital Housing Partners VI LP 61.82%GP
09 Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
09 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
09 Altamont Hotel Associates LP 99%
09 Bradley Manor Senior Apartments LP 99%
09 Double X Associates 1995 LP (Terrace Manor) 99%
09 Hamilton Place Apartments LP (Larkin Place) 99%
09 Hamilton Place Senior Living LP 99%
09 Hearthstone Group 3 LP (Evergreen Court) 99%
9
09 KDF Malabar LP 99%
09 LINC-Bristol Associates I, LP (City Gardens) 99%
09 MAS-WT, LP (Washington Terrace) 99%
09 Northwood Manor Associates LP 99%
09 Silver Lake Properties LP 99%
09 University Park Properties LP 99%
09 Upland Senior Housing LP (Coy D. Estes) 99%
09 Vista Properties LLC (Vista View) 99%
09 Vista Verde Townhomes II LLC 99%
07 ECH Investor Partners VI-B LP 100%GP
08 Edison Capital Housing Partners VI LP 37.18%GP
09 Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
09 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
09 Altamont Hotel Associates LP 99%
09 Bradley Manor Senior Apartments LP 99%
09 Double X Associates 1995 LP (Terrace Manor) 99%
09 Hamilton Place Apartments LP (Larkin Place) 99%
09 Hamilton Place Senior Living LP 99%
09 Hearthstone Group 3 LP (Evergreen Court) 99%
09 KDF Malabar LP 99%
09 LINC-Bristol Associates I, LP (City Gardens) 99%
09 MAS-WT, LP (Washington Terrace) 99%
09 Northwood Manor Associates LP 99%
09 Silver Lake Properties LP 99%
09 University Park Properties LP 99%
09 Upland Senior Housing LP (Coy D. Estes) 99%
09 Vista Properties LLC (Vista View) 99%
09 Vista Verde Townhomes II LLC 99%
05 EDISON HOUSING OREGON, INC.
05 EDISON HOUSING SOUTH CAROLINA
06 Edison Capital Contributions VI Partners 4.20%
07 ECH Investor Partners VI-A LP 15.39%GP
08 Edison Capital Housing Partners VI LP 61.82%GP
09 Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
09 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
09 Altamont Hotel Associates LP 99%
09 Bradley Manor Senior Apartments LP 99%
09 Double X Associates 1995 LP (Terrace Manor) 99%
09 Hamilton Place Apartments LP (Larkin Place) 99%
09 Hamilton Place Senior Living LP 99%
09 Hearthstone Group 3 LP (Evergreen Court) 99%
09 KDF Malabar LP 99%
09 LINC-Bristol Associates I, LP (City Gardens) 99%
09 MAS-WT, LP (Washington Terrace) 99%
09 Northwood Manor Associates LP 99%
09 Silver Lake Properties LP 99%
09 University Park Properties LP 99%
09 Upland Senior Housing LP (Coy D. Estes) 99%
09 Vista Properties LLC (Vista View) 99%
09 Vista Verde Townhomes II LLC 99%
07 ECH Investor Partners VI-B LP 100%GP
08 Edison Capital Housing Partners VI LP 37.18%GP
09 Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
09 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn Apts. Phase II) 99%
09 Altamont Hotel Associates LP 99%
09 Bradley Manor Senior Apartments LP 99%
09 Double X Associates 1995 LP (Terrace Manor) 99%
09 Hamilton Place Apartments LP (Larkin Place) 99%
09 Hamilton Place Senior Living LP 99%
09 Hearthstone Group 3 LP (Evergreen Court) 99%
10
09 KDF Malabar LP 99%
09 LINC-Bristol Associates I, LP (City Gardens) 99%
09 MAS-WT, LP (Washington Terrace) 99%
09 Northwood Manor Associates LP 99%
09 Silver Lake Properties LP 99%
09 University Park Properties LP 99%
09 Upland Senior Housing LP (Coy D. Estes) 99%
09 Vista Properties LLC (Vista View) 99%
09 Vista Verde Townhomes II LLC 99%
05 EHI DEVELOPMENT COMPANY
05 EHI DEVELOPMENT FUND
05 Florence Apartments LLC 99%
05 Harry Clark Jr. Residential Center LLC 99%
05 Hotel Elkhart L.L.C. (The Cornerstone) 99%
05 Josephinum Associates LP, The (Washington partnership) 99%
05 Kennedy Lofts Associates LP (Massachusetts partnership) 99%
05 LL Housing L.L.C. 24.5%
05 Madison/Mollison LP (Park Mollison) 99%
05 Maplewood Housing Associates LP 99.9%
05 MH I LP 1%GP
06 California Park Apartments LP 99%
05 MH II LP 1%GP
06 5363 Dent Avenue Associates LP 99%
05 MH III LP 1%GP
06 DeRose Housing Associates LP 99%
05 MH IV LP 1%GP
06 MPT Apartments LP (MacArthur Park) 99%
05 MH V LP 1%GP
06 Centennial Place LP 99%
05 MHICAL 94 COMPANY
[owns 19.32% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05 MHICAL 94 LP (Delaware partnership) 1%GP
06 Mayacamas Village Associates LP 99%
06 West Capital Courtyard LP 99%
05 MHICAL 95 LP (Delaware partnership) 1%GP
06 Abby Associates LP (Windmere) 99%
06 Colina Vista LP 99%
06 Mercy Housing California VI LP (205 Jones) 99%
05 MHICAL 96 LP (Delaware partnership) 1%GP
06 Greenway Village Associates LP 99%
06 Kennedy Court Partners LP 99%
06 Klamath Associates LP 99%
06 Westgate Townhomes Associates LP 99%
05 MHICAL 95 COMPANY
06 ECH/HFC GP Partnership No. 2 43.3%
07 Edison Capital Housing Partners VIII LP 18.54%GP
08 Catalonia Associates LP 99%
08 Ohlone Housing Associates LP 99%
06 EDISON HOUSING CONSOLIDATION CO. (formerly Edison Housing Georgia) 29.90%
07 EDISON FUNDING OMICRON INCORPORATED (Delaware corporation) (formerly Edison Funding Omicron
GP) 44.40% [also owned 0.08% by Edison Funding Company and 55.52% by Edison Capital Housing
Investments]
08 16th and Church Street Associates LP 99%
08 1856 Wells Court Partners, LP (Wells Court) 99%
08 AE Associates LP (Avenida Espana) 99%
08 Agape Housing LP 99%
08 Anglo Edison Ravenwood L.L.C. 99%
08 Brantwood II Associates LP 99%
08 Brooks School Associates LP 99%
08 Bryn Mawr - Belle Shore LP (The) 99%
11
08 Bush Hotel LP 99%
08 Centertown Associates LP (Ravenwood) 99%
08 Centro Partners LP (El Centro) 99%
08 Coyote Springs Apartments Associates LP 99%
08 Cypress Cove Associates 99%
08 Del Carlo Court Associates LP 99%
08 Delta Plaza Apartments LP 99%
08 EAH Larkspur Creekside Associates LP 99%
08 East Cotati Avenue Partners LP 99%
08 EDISON FUNDING OLIVE COURT 100%
09 Olive Court Housing Associates LP 0.6%
08 Edmundson Associates LP (Willows) 99%
08 El Barrio Academy Urban Renewal Associates, LP (Academy Street) 99%
08 Elizabeth West and East LP 99%
08 Farm (The) Associates LP 99%
08 Gilroy Redwood Associates LP (Redwoods) 99%
08 Ginzton Associates LP 99%
08 Grossman Apartments Investors LP 99%
08 Heather Glen Associates LP 99%
08 HMB-Atlanta I LP (Spring Branch) 99%
08 Holy Family Associates LP 99%
08 Lackawana Housing Associates LLC (Goodwill Neighborhood Residences) 99%
08 Maplewood School Apartments LP 99%
08 Mar Associates LP (Frank Mar) 99%
08 McFarland Press Associates LP 99%
08 Mercantile Housing LLC (Mercantile Square) 99%
08 Merrill Road Associates LP 99%
08 MH I LP 99%
09 California Park Apartments LP 99%
08 MHICAL 94 LP (Delaware partnership) 99%LP
09 Mayacamas Village Associates LP 99%
09 West Capital Courtyard LP 99%
08 MHICAL 95 LP (Delaware partnership) 99%LP
09 Abby Associates LP (Windmere) 99%
09 Colina Vista LP 99%
09 Mercy Housing California VI LP (205 Jones) 99%
08 MHICAL 96 LP (Delaware partnership) 99%LP
09 Greenway Village Associates LP 99%
09 Kennedy Court Partners LP 99%
09 Klamath Associates LP 99%
09 Westgate Townhomes Associates LP 99%
08 Mid-Peninsula Century Village Associates LP (Century Village) 99%
08 Mission Capp LP 99%
08 Mission Housing Partnership 1996 LP (Delaware partnership) 99%LP
08 Neary Lagoon Partners LP 99%
08 North Park Village LLC 99%
08 Oceanside Gardens LP 99%
08 Omaha Amber Ridge LP (Amber Ridge) 99%
08 Open Door Associates LP (West Valley) 99%
08 Palmer House LP 99%
08 Richmond City Center Associates LP 99%
08 Riverside/Liebrandt Partners LP (La Playa) 99%
08 Roebling Village Inn Urban Renewal LP 99%
08 Rosebloom Associates LP (Oakshade) 99%
08 San Pablo Senior Housing Associates LP 99%
08 San Pedro Gardens Associates LP 99%
08 Santa Paulan Senior Apartments Associates LP (The Paulan) 99%
08 South Beach Housing Associates LP (Steamboat) 99%
08 South Winery Associates LP (The Winery Apartments) 99%
08 Stoney Creek Associates LP 99%
12
08 Studebaker Building LP 99%
08 Sultana Acres Associates LP 99%
08 Thomson Rental Housing, LP (Washington Place) 99%
08 Tuscany Associates LP (Tuscany Villa) 99%
08 Villa Maria Housing LP 99%
08 Washington Creek Associates LP 99%
08 Westport Village Homes Associates LP 99%
08 Wheeler Manor Associates LP 99%
08 YWCA Villa Nueva Partners LP 99%
05 MHICAL 96 COMPANY
[owns 8.96% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
06 ECH/HFC GP Partnership No. 1 50.4%
07 Edison Capital Housing Partners VII LP 19.4%GP
08 C-Court LP (Cawelti Court) 99%
08 Cottonwood Affordable Housing LP 99%
08 Fifth and Wilshire Apartments LP 99%
08 Flagstaff Affordable Housing II, LP (Forest View Apts.) 99%
08 Huff Avenue Associates LP 99%
08 Mountain View Townhomes Associates LP 99%
08 Oak Forest Associates LP 99%
08 Paradise Road Partners LP (Gateway Village) 99%
08 Woodland Arms Apartments, Ltd. 99%
06 Edison Capital Affordable Housing 99A G.P. 36.47%
07 Edison Capital Housing Partners IX LP 13.5533%GP
08 1010 SVN Associates LP 99.9%
08 2814 Fifth Street Associates LP (Land Park Woods) 99%
08 Alma Place Associates LP 99%
08 Knolls Community Associates LP 99.9%
08 Monterra Village Associates LP 99%
08 Pacific Terrace Associates LP 99.9%
08 PVA LP (Park Victoria) 99%
08 Sherman Glen, L.L.C. 99%
08 Strobridge Housing Associates LP 99%
08 Trolley Terrace Townhomes LP 99.9%
08 Walnut Avenue Partnership LP 99%
05 MHICAL 97 COMPANY
06 ECH/HFC GP Partnership No. 1 14.7%
07 Edison Capital Housing Partners VII LP 19.4%GP
08 C-Court LP (Cawelti Court) 99%
08 Cottonwood Affordable Housing LP 99%
08 Fifth and Wilshire Apartments LP 99%
08 Flagstaff Affordable Housing II, LP (Forest View Apts.) 99%
08 Huff Avenue Associates LP 99%
08 Mountain View Townhomes Associates LP 99%
08 Oak Forest Associates LP 99%
08 Paradise Road Partners LP (Gateway Village) 99%
08 Woodland Arms Apartments, Ltd. 99%
06 Edison Capital Affordable Housing 99A G.P. 33.05%
07 Edison Capital Housing Partners IX LP 13.5533%GP
08 1010 SVN Associates LP 99.9%
08 2814 Fifth Street Associates LP (Land Park Woods) 99%
08 Alma Place Associates LP 99%
08 Knolls Community Associates LP 99.9%
08 Monterra Village Associates LP 99%
08 Pacific Terrace Associates LP 99.9%
08 PVA LP (Park Victoria) 99%
08 Sherman Glen, L.L.C. 99%
08 Strobridge Housing Associates LP 99%
08 Trolley Terrace Townhomes LP 99.9%
08 Walnut Avenue Partnership LP 99%
13
06 MHICAL 97 LP 99%LP
07 Garnet Housing Associates LP 99%
05 MHICAL 97 LP 1%GP
06 Garnet Housing Associates LP 99%
05 MHIFED 94 COMPANY
05 MHIFED 94 LP (Delaware partnership) 1%GP; 99%LP to Bell Atlantic
06 Berry Avenue Associates LP 99%
06 Carlton Way Apartments LP 99%
06 CDR Senior Housing Associates (Casa del Rio) 99%
06 Corona Ely/Ranch Associates LP 99%
06 Fairview Village Associates LP 99%
06 Fell Street Housing Associates LP 99%
06 Hope West Apartments LP 99%
06 Morrone Gardens Associates LP 99%
06 Pajaro Court Associates LP 99%
06 Tierra Linda Associates LP 99%
06 Tlaquepaque Housing Associates LP 99%
05 MHIFED 95 COMPANY
05 MHIFED 95 LP (Delaware partnership) 1%GP; 99%LP to Bell Atlantic
06 1101 Howard Street Associates LP 99%
06 Avalon Courtyard LP (Carson Senior Housing) 99%
06 Hollywood El Centro LP 99%
06 La Brea/Franklin LP 99%
06 Larkin Pine LP 99%
06 Mercy Housing California III LP (3rd and Reed) 99%
06 Pinole Grove Associates LP 99%
06 Second Street Center LP (Santa Monica) 99%
06 Solinas Village Partners LP 99%
06 Three Oaks Housing LP 99%
05 MHIFED 96 COMPANY
05 MHIFED 96 LP (Delaware partnership) 5%GP; 95%LP to Cargill
06 Lavell Village Associates LP 99%
06 North Town Housing Partners LP (Villa del Norte Village) 99%
06 Poco Way Associates LP 99%
06 Seasons Affordable Senior Housing LP 99%
05 MHIFED 96A COMPANY
05 MHIFED 96A LP (Delaware partnership) 1%GP; 99%LP to Bell Atlantic
06 Good Samaritan Associates LP 99%
06 Metro Senior Associates LP 99%
06 Oxnard Housing Associates LP 99%
06 Reseda Village LP 99%
06 Round Walk Village Apartments LP 99%
06 Santa Alicia Family Housing Associates 99%
06 Vine Street Court LP 99%
06 Vine Street Court LP II 99%
05 MHIFED 97 COMPANY
06 MHIFED 97 LP 99%LP
05 MHIFED 97 LP 1%GP
05 Mid-Peninsula Sharmon Palms Associates LP (Sharmon Palms) 99%
05 MISSION HOUSING ALPHA
06 Lee Park Investors LP (Pennsylvania partnership) 99%
06 Quebec Arms Apartments LP 0.05% GP
06 University Manor Apartment LP 0.05% GP
05 MISSION HOUSING BETA
[owns 2.58% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05 MISSION HOUSING DELTA
[owns 1.07% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
06 MH II LP 99%
07 5363 Dent Avenue Associates LP 99%
14
06 MH III LP 99%
07 DeRose Housing Associates LP 99%
06 MH IV LP 99%
07 MPT Apartments LP (MacArthur Park) 99%
06 MH V LP 99%
07 Centennial Place LP 99%
05 MISSION HOUSING DENVER
[owns 5.67% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05 MISSION HOUSING EPSILON
[owns 0.54% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
06 Edison Capital Affordable Housing 99A G.P. 2.78%
07 Edison Capital Housing Partners IX LP 13.5533%GP
08 1010 SVN Associates LP 99.9%
08 2814 Fifth Street Associates LP (Land Park Woods) 99%
08 Alma Place Associates LP 99%
08 Knolls Community Associates LP 99.9%
08 Monterra Village Associates LP 99%
08 Pacific Terrace Associates LP 99.9%
08 PVA LP (Park Victoria) 99%
08 Sherman Glen, L.L.C. 99%
08 Strobridge Housing Associates LP 99%
08 Trolley Terrace Townhomes LP 99.9%
08 Walnut Avenue Partnership LP 99%
05 MISSION HOUSING GAMMA
[owns 1.73% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05 MISSION HOUSING HOLDINGS
[owns 13.10% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05 Mission Housing Partnership 1996 LP (Delaware partnership) 1%GP
05 MISSION HOUSING THETA
06 MISSION FUNDING THETA
[owns 0.01% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
07 Cedarshores Limited Dividend Housing Association LP 0.01%
07 Edison Capital Affordable Housing 99A G.P. 0.01%
08 Edison Capital Housing Partners IX LP 13.5533%GP
09 1010 SVN Associates LP 99.9%
09 2814 Fifth Street Associates LP (Land Park Woods) 99%
09 Alma Place Associates LP 99%
09 Knolls Community Associates LP 99.9%
09 Monterra Village Associates LP 99%
09 Pacific Terrace Associates LP 99.9%
09 PVA LP (Park Victoria) 99%
09 Sherman Glen, L.L.C. 99%
09 Strobridge Housing Associates LP 99%
09 Trolley Terrace Townhomes LP 99.9%
09 Walnut Avenue Partnership LP 99%
07 Edison Capital Affordable Housing 99B G.P. 0.01%
08 Edison Capital Housing Partners X LP 19.3952%GP
09 Beacon Manor Associates LP 99.9%
09 Boulder Creek Apartments LP 99.9%
09 Burlington Senior Housing LLC 99.9%
09 CCS/Renton Housing LP (Renton) 99.9%
09 Coolidge Station Apartments L.L.C. 99%
09 Lark Ellen LP 99%
09 Mercy Housing California IX LP (Sycamore) 99.9%
09 Morgan Hill Ranch Housing LP 99%
09 Pacifica Community Associates LP (Villa Pacifica) 99.9%
09 Persimmon Associates LP 99%
09 Providence-Brown Street Housing LP (Brown Street) 99.9%
09 San Juan Commons 1996 LP 99.9%
15
09 Timber Sound, Ltd. 99%
09 Timber Sound II, Ltd. 99%
09 Trinity Park Apartments LP 99.9%
09 Venbury Trail LP 99.9%
07 Oakdale Terrace Leased Housing Associates LP 0.01%
07 Westfield Condominium Investment LP 0.01%
07 Woodleaf Village LP 0.01%
06 Mission Housing Investors Partnership 5%GP; 95%LP to GECC
07 1028 Howard Street Associates LP 99%
07 Forest Winds Associates LP 99%
07 Glen Eden Associates LP (A Street) 99%
07 Gray's Meadows Investors LP 99%
07 Prince Bozzuto LP (Fairground Commons) (Maryland partnership) 99%
07 Rancho Park Associates LP 99%
07 Rustic Gardens Associates LP 99%
07 Sea Ranch Apartments LP 99%
07 Springdale Kresson Associates LP (Jewish Federation) (New Jersey partnership) 99%
05 MISSION HOUSING ZETA
[owns 5.35% of Edison Housing Consolidation Co.; see listing under MHICAL 95 Company.]
05 MISSION SA COMPANY
05 National Boston Lofts Associates LLLP (Boston Lofts) 99%
05 Oakdale Terrace Leased Housing Associates LP 98.99%
05 Olive Court Apartments LP 98.9%
05 Pacific Vista Las Flores LP (Vista Las Flores) 99.9%
05 Pilot Grove LP (Massachusetts partnership) 99%
05 Pinewood on Wisconsin Apartments 99%
05 Post Office Plaza LP (Ohio partnership) 99%
05 Tabor Grand LP (Colorado partnership) 99%
05 WGA INVESTORS COMPANY [dead project]
05 West Valley Hart LP (Hart and Alabama) 99.9%
05 Westfield Condominium Investment LP 98.99%
05 White Mountain Apache LP 99%
04 EDISON FUNDING OMICRON INCORPORATED (Delaware corporation) (formerly Edison Funding Omicron GP) 0.08%
[also owned 55.52% by Edison Capital Housing Investments and 44.40% by Edison Housing Consolidation Co.]
05 EDISON FUNDING OLIVE COURT 100%
06 Olive Court Housing Associates LP 0.6%
04 EDISON INTEGRATED ENERGY SERVICES
04 MISSION FIRST ASSET INVESTMENT
04 MISSION FUNDING BETA
04 MISSION FUNDING EPSILON
05 Edison Capital (Bermuda) Investments, Ltd. (Bermuda corporation)
Address: Clarendon House, 2 Church Street, Hamilton HM CX, Bermuda
06 Edison Capital LAI (Bermuda) Ltd. (Bermuda corporation)
Address: Clarendon House, 2 Church Street, P.O. Box HM666, Hamilton HM CX, Bermuda
07 Trinidad and Tobago Methanol Company Limited (equity) 1.0%
06 Edison Capital Latin American Investments (Bermuda) Ltd. (Bermuda corporation) 33.3%
Address: Clarendon House, 2 Church Street, P.O. Box HM666, Hamilton HM CX, Bermuda
07 AIG Asian Infrastructure Fund II LP 5.8%
07 AIG-GE Capital Latin American Infrastructure Fund LP 8%
07 AIG Emerging Europe Infrastructure Fund LP 18.05%
07 AIG Emerging Europe Infrastructure Management LP 23.6%GP
05 Edison Capital International (Bermuda) Ltd. (Bermuda corporation)
Address: Clarendon House, 2 Church Street, P.O. Box HM666, Hamilton HM CX, Bermuda
16
06 Edison Capital International Transmission (Bermuda) Ltd. (Bermuda corporation) 100%
06 Edison Capital Latin American Investments (Bermuda) Ltd. (Bermuda corporation) 33.3%
07 AIG Asian Infrastructure Fund II LP 5.8%
07 AIG-GE Capital Latin American Infrastructure Fund LP 7.89%
08 Andes Energy XII Ltd. 100%
09 Paz Holdings Ltd. 43.22%
10 Compania Adminstradora de Empresas Bolivia S.A. (Cade) 12.55% (Bolivian service
company)
Address: Edificio Electropaz SA, subsuelo Plaza Venezuela No. 1401 esq. Loayza, La
Paz, Bolivia
10 Electricidad de La Paz S.A. (Electropaz) (equity) 10% (Bolivian foreign utility
company) [See 4.EC01]
Address: Avenida Illimani l973, Casilla 10511, La Paz, Bolivia
10 Empresa de Luz y Fuerza Electrica de Oruro S.A. (Elfeo) 12.55% (Bolivian foreign
utility company) [See 4.EC02]
Address: Junin No. 710, Casilla No. 53, Oruro, Bolivia
10 Empresa de Servicios Edeser S.A. (Edeser) 12.55% (Bolivian
service company)
Address: Iturralde No. 1309, Miraflores, La Paz, Bolivia
07 AIG Emerging Europe Infrastructure Fund LP 18.05%
07 AIG Emerging Europe Infrastructure Management LP 23.6%GP
06 Olmeca Cable Investments Ltd. (Mandeville Mexico, S.A.) 21.7%
06 Paz Holdings Ltd. 30.42%
07 Compania Adminstradora de Empresas Bolivia S.A. (Cade) 12.55% (Bolivian service company)
Address: Edificio Electropaz SA, subsuelo Plaza Venezuela No. 1401 esq. Loayza, La Paz,
Bolivia
07 Electricidad de La Paz S.A. (Electropaz) (equity) 10% (Bolivian foreign utility company) [See
4.EC01]
Address: Avenida Illimani l973, Casilla 10511, La Paz, Bolivia
07 Empresa de Luz y Fuerza Electrica de Oruro S.A. (Elfeo) 12.55% (Bolivian foreign utility
company) [See 4.EC02]
Address: Calle Junin No. 71, Casilla No. 53, Oruro, Bolivia
07 Empresa de Servicios Edeser S.A. (Edeser) 12.55% (Bolivian service
company)
Address: Iturralde No. 1309, Miraflores, La Paz, Bolivia
05 Edison Capital Latin American Investments Holding Company (Delaware corporation)
06 Edison Capital Latin American Investments (Bermuda) Ltd. (Bermuda corporation) 33.3%
07 AIG Asian Infrastructure Fund II LP 5.8%
07 AIG-GE Capital Latin American Infrastructure Fund LP 7.89%
07 AIG Emerging Europe Infrastructure Fund LP 18.05%
07 AIG Emerging Europe Infrastructure Management LP 23.6%GP
05 Edison Capital (Netherlands) Holdings B.V.
Address: Aert van Nesstraat 45, 3012 CA Rotterdam, The Netherlands
06 Edison Capital (Netherlands) Investments B.V.
Address: Aert van Nesstraat 45, 3012 CA Rotterdam, The Netherlands
05 MISSION FUNDING ALPHA
06 MISSION FUNDING MU
07 EPZ Mission Funding Mu Trust (equity interest in foreign utility company) [See 4.EC03]
Address: c/o Wilmington Trust Company, Rodney Square North, 111 North Market Square,
Wilmington, Delaware 19890-0004
05 MISSION FUNDING DELTA
06 MISSION FUNDING NU
07 EPZ Mission Funding Nu Trust (equity interest in foreign utility company) [See 4.EC04]
Address: c/o Wilmington Trust Company, Rodney Square North, 111 North Market Square,
Wilmington, Delaware 19890-0004
17
05 Mission Investments, Inc. (U.S. Virgin Islands corp.)
Address: ABN Trustcompany, Guardian Building, Havensight, 2nd Floor, St. Thomas, U.S. Virgin
Islands
05 Mission (Bermuda) Investments, Ltd. (Bermuda corp.)
Address: Clarendon House, 2 Church Street, Hamilton HM CX, Bermuda
04 MISSION FUNDING GAMMA
04 MISSION FUNDING KAPPA
05 ABB Funding Partners, LP 14.27%
04 MISSION FUNDING ZETA
05 Huntington LP (New York partnership) 50%
05 Lakota Ridge LLC 75% [See 4.EC05]
Address: c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota 56164
05 Shaokatan Hills LLC 75% [See 4.EC06]
Address: c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota 56164
05 Woodstock Hills LLC 75% [See 4.EC07]
Address: c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota 56164
04 MISSION IOWA WIND COMPANY
05 Storm Lake Power Partners I LLC (99%) [See 4.EC08]
Address: 13000 Jameson Road, Tehachapi, CA 93561
03 EDISON MORTGAGE COMPANY
03 MISSION BARTLETT HILL COMPANY
03 MISSION INTERNATIONAL CAPITAL, INC.
03 RENEWABLE ENERGY CAPITAL COMPANY
02 MISSION LAND COMPANY is a California corporation having its principal place of business at 18101 Von
Karman Avenue, Suite 1700, Irvine, California 92612-1046. It is engaged, directly and through its
subsidiaries, in the business of owning, managing and selling industrial parks and other real property
investments. The subsidiaries and partnerships of Mission Land Company are listed below. Unless
otherwise indicated, all entities are corporations, are organized under the laws of the State of
California, and have the same principal place of business as Mission Land Company.
03 ASSOCIATED SOUTHERN INVESTMENT COMPANY
03 CALABASAS PALATINO, INC. (Inactive)
03 Carol Stream Developers G.P. (Illinois partnership) 60%GP
03 Centrelake Partners, LP (limited partnership) 98%GP
03 IRWINDALE LAND COMPANY (Inactive)
03 MISSION AIRPORT PARK DEVELOPMENT CO.
04 Carol Stream Developers G.P. (Illinois partnership) 40%GP
04 Centrelake Partners, LP (limited partnership) 2%LP
04 Mission Vacaville LP (limited partnership) 1%GP
03 MISSION INDUSTRIAL CONSTRUCTORS, INC. (Inactive)
03 Mission-Oceangate 75%GP
03 MISSION/ONTARIO, INC. (Inactive)
03 MISSION SOUTH BAY COMPANY (Inactive)
04 Mission-Oceangate 25%GP
03 MISSION TEXAS PROPERTY HOLDINGS, INC. (Inactive)
03 Mission Vacaville LP (limited partnership) 99%LP
02 MISSION POWER ENGINEERING COMPANY is an inactive California corporation having its principal place of
business at 2244 Walnut Grove Avenue, Rosemead, California 91770. The subsidiary of Mission Power
Engineering Company is listed below.
03 ASSOCIATED SOUTHERN ENGINEERING COMPANY (Inactive)
02 MISSION ENERGY HOLDING COMPANY is a Delaware corporation having its principal place of business at 1321
South State College Boulevard, Fullerton, California 92831. Mission Energy Holding Company owns the
stock of Edison Mission Energy and also acts as a financing vehicle.
18
03 EDISON MISSION ENERGY is a Delaware corporation having its principal place of business at 18101 Von Karman
Avenue, Suite 1700, Irvine, California 92612-1046. Edison Mission Energy owns the stock of a group of
corporations which, primarily through partnerships with non-affiliated entities, are engaged in the
business of developing, owning, leasing and/or operating cogeneration, geothermal and other energy or
energy-related projects pursuant to the Public Utility Regulatory Policies Act of 1978. Edison Mission
Energy, through wholly owned subsidiaries, also has ownership interests in a number of independent power
projects in operation or under development that either have been reviewed by the Commission's staff for
compliance with the Act or are or will be exempt wholesale generators or foreign utility companies under
the Energy Policy Act of 1992. In addition, some Edison Mission Energy subsidiaries have made
fuel-related investments and a limited number of non-energy related investments. The subsidiaries and
partnerships of Edison Mission Energy are listed below. Unless otherwise indicated, all entities are
corporations, are organized under the laws of the State of California and have the same principal place of
business as Edison Mission Energy.
EDISON MISSION ENERGY DOMESTIC COMPANIES:
04 AGUILA ENERGY COMPANY (LP)
05 American Bituminous Power Partners, LP (Delaware limited partnership) 49.5%; 50% with Pleasant Valley
Address: Grant Town Power Plant, Highway 17, Grant Town, WV 26574
06 American Kiln Partners, LP (Delaware limited partnership) 49.5% of 53%
04 ANACAPA ENERGY COMPANY (GP)
05 Salinas River Cogeneration Company 50%
Address: Star Route 42, Sargents Road, San Ardo, CA 93450
04 ARROWHEAD ENERGY COMPANY (Inactive)
04 BALBOA ENERGY COMPANY (GP)
05 Smithtown Cogeneration, LP (Delaware partnership) 50%; 100% w/ Kingspark
04 BLUE RIDGE ENERGY COMPANY (GP)
05 Bretton Woods Cogeneration, LP (Delaware limited partnership) 50%; 100% w/ Bretton Woods
04 BRETTON WOODS ENERGY COMPANY (GP and LP)
05 Bretton Woods Cogeneration, LP (Delaware LP) 50%; 100% w/ Blue Ridge
04 CAMINO ENERGY COMPANY (GP)
05 Watson Cogeneration Company (general partnership) 49%
05 CPC Cogeneration LLC (Delaware LLC) 49%
04 CAPISTRANO COGENERATION COMPANY (GP)
05 James River Cogeneration Company (North Carolina partnership) 50%
04 CENTERPORT ENERGY COMPANY (GP and LP)
05 Riverhead Cogeneration I, LP (Delaware partnership) 50%; 100% w/ Ridgecrest
04 CHESAPEAKE BAY ENERGY COMPANY (GP)
05 Delaware Clean Energy Project (Delaware general partnership) 50%
04 CHESTER ENERGY COMPANY (no partners; option Chesapeake,VA)
04 CLAYVILLE ENERGY COMPANY
05 Oconee Energy, LP (Delaware LP) 50%; 100% w/Coronado
04 COLONIAL ENERGY COMPANY (Inactive)
04 CORONADO ENERGY COMPANY
05 Oconee Energy, LP (Delaware LP) 50%; 100% w/Clayville
04 CRESCENT VALLEY ENERGY COMPANY (Inactive)
04 DEL MAR ENERGY COMPANY (GP)
05 Mid-Set Cogeneration Company 50%
Address: 13705 Shalae Road, Fellows, CA 93224
04 DELAWARE ENERGY CONSERVERS, INC. (Delaware corporation) (Inactive)
04 DESERT SUNRISE ENERGY COMPANY (Nevada corporation) (Inactive)
04 DEVEREAUX ENERGY COMPANY (LP)
04 EASTERN SIERRA ENERGY COMPANY (GP and LP)
[This entity and its subsidiary were sold on 09/20/2001]
05 Saguaro Power Company, LP 50%
Address: 8000 W. Lake Mead Drive, Henderson, NV 89001
04 EAST MAINE ENERGY COMPANY (Inactive)
04 EDISON ALABAMA GENERATING COMPANY
19
04 EDISON MISSION DEVELOPMENT, INC. (Delaware corporation) 100%
04 EDISON MISSION ENERGY FUEL
05 EDISON MISSION ENERGY OIL & GAS
06 Four Star Oil & Gas Company 37.196%
Address: 200 Westchester Avenue, White Plains, NY 10650
05 EDISON MISSION ENERGY PETROLEUM
05 POCONO FUELS COMPANY (Inactive)
05 SOUTHERN SIERRA GAS COMPANY
06 TM Star Fuel Company (general partnership) 50%
04 EDISON MISSION ENERGY FUNDING CORP. (Delaware corporation) 1%
04 Edison Mission Energy Interface Ltd. (British Columbia company)
Address: 2 Sheppard Ave. E. #200, North York, Ontario, Canada
05 The Mission Interface Partnership (Province of Ontario G.P.) 50%
04 EDISON MISSION ENERGY SERVICES, INC. [formerly Edison Mission
Energy Fuel Services, Inc.] [PowerGen project]
04 EDISON MISSION FUEL RESOURCES, INC. [Com Ed Project
04 EDISON MISSION FUEL TRANSPORTATION, INC. [Com Ed Project]
04 EDISON MISSION MARKETING & TRADING, INC. [Com Ed Project]
04 EDISON MISSION HOLDINGS CO. (formerly EME Homer City Holdings Co.)
05 CHESTNUT RIDGE ENERGY COMPANY 100%
06 EME HOMER CITY GENERATION LP (Pennsylvania) 99%LP [See 4.EME05]
Address: 1750 Power Plant Road, Homer City, PA 15748-8009
05 EDISON MISSION FINANCE CO. 100%
05 HOMER CITY PROPERTY HOLDINGS, INC. 100%
05 MISSION ENERGY WESTSIDE, INC. 100%
06 EME HOMER CITY GENERATION LP (Pennsylvania) 1%GP [See 4.EME05]
Address: 1750 Power Plant Road, Homer City, PA 15748-8009
04 EDISON MISSION OPERATION & MAINTENANCE, INC.
05 Mission Operations de Mexico, S.A. de C.V. (Inactive) 99%
Address: Bosques de Ciruelos No. 304 2 Piso, Colonia Bosques de las Lomas, 11700 Mexico Distrito
Federal
04 EDISON MISSION PROJECT CO. (formerly EME UK International, Inc.) (Delaware corporation) 100% [holds 100%
of the issued and outstanding Class D shares of MEC International B.V. (0.01%)--see INTERNATIONAL section]
04 EL DORADO ENERGY COMPANY (GP)
04 EME CP HOLDINGS CO.
05 Bretton Woods Funding I, L.L.C.
05 CP Power Sales Five, L.L.C.
05 CP Power Sales Thirteen, L.L.C.
05 CP Power Sales Fourteen, L.L.C.
05 CP Power Sales Fifteen, L.L.C.
05 CP Power Sales Seventeen, L.L.C.
05 CP Power Sales Eighteen, L.L.C.
05 CP Power Sales Nineteen, L.L.C.
05 CP Power Sales Twenty, L.L.C.
05 Sunapee Funding I, L.L.C.
04 EME EASTERN HOLDINGS CO.
05 Athens Funding, L.L.C.
05 Citizens Power Holdings One, LLC
06 CL Power Sales One, L.L.C. 25%
06 CL Power Sales Two, L.L.C. 25%
06 CL Power Sales Six, L.L.C. 25%
06 CL Power Sales Seven, L.L.C. 25%
06 CL Power Sales Eight, L.L.C. 25%
06 CL Power Sales Nine, L.L.C. 25%
06 CL Power Sales Ten, L.L.C. 25%
05 CP Power Sales Twelve, L.L.C.
04 EMP, INC. (Oregon corporation) (GP and LP) (Inactive)
20
04 FOUR COUNTIES GAS COMPANY (Inactive)
04 GLOBAL POWER INVESTORS, INC.
04 HANOVER ENERGY COMPANY
05 CHICKAHOMINY RIVER ENERGY CORPORATION (Virginia corporation) (GP and LP)
06 Commonwealth Atlantic LP (Delaware partnership) 50% [See 4.EME02]
Address: 2837 South Military Highway, Chesapeake, VA 23323-0286
04 HOLTSVILLE ENERGY COMPANY (GP and LP)
05 Brookhaven Cogeneration, LP (Delaware partnership) 50%; 100% w/ Madera
04 INDIAN BAY ENERGY COMPANY (GP and LP)
05 Riverhead Cogeneration III, LP (Delaware partnership) 50%; 100% w/ Santa Ana
04 JEFFERSON ENERGY COMPANY (GP and LP) (Inactive)
04 KINGS CANYON ENERGY COMPANY (Inactive)
04 KINGSPARK ENERGY COMPANY (GP and LP)
05 Smithtown Cogeneration, LP (Delaware partnership) 50%; 100% w/ Balboa
04 LAGUNA ENERGY COMPANY (Inactive) (former interest in Ambit)
04 LA JOLLA ENERGY COMPANY (Inactive) (used for Belridge)
04 LAKEVIEW ENERGY COMPANY
05 Georgia Peaker, LP (Delaware LP) 50%; 100% w/ Silver Springs
04 LEHIGH RIVER ENERGY COMPANY (Inactive)
04 LONGVIEW COGENERATION COMPANY (held for Weyerhauser)
04 MADERA ENERGY COMPANY (GP)
05 Brookhaven Cogeneration, LP (Delaware partnership) 50%; 100% w/ Holtsville
04 MADISON ENERGY COMPANY (LP)
05 Gordonsville Energy, LP (Delaware partnership) 49%; 50% w/ Rapidan [See 4.EME03]
Address: 115 Red Hill Road, Gordonsville, VA 22942
04 Majestic Energy Limited (UK private limited company)
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
05 EME Royale (New Zealand private limited company)
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
06 Edison Mission Energy Taupo Limited (New Zealand company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
04 MIDWEST GENERATION EME, LLC (Delaware LLC) 100%
Address: One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
05 COLLINS HOLDINGS EME, LLC
Address: One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
05 EDISON MISSION MIDWEST HOLDINGS CO. 100%
Address: One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
06 EDISON MISSION ENERGY FUEL SERVICES, LLC
Address: One Financial Place, 440 South LaSalle Street, Suite 3500, Chicago, Illinois 60605
06 EDISON MISSION OVERSEAS CO. (Com Ed project) 100%
Address: One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
07 Edison Mission Overseas Ltd. (Com Ed project) 100%
Address: One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
06 MIDWEST GENERATION, LLC (Com Ed project) 100% [See 4.EME06]
Address: One Financial Place, 400 South LaSalle Street, Suite 3410, Chicago, Illinois 60605
Crawford Station, 3501 South Pulaski Road, Chicago, IL 60608
Collins Station, 4200 East Pine Bluff Road, Morris, IL 60623
Fisk Station, 1111 West Cermak Road, Chicago, IL 60608
Joliet Station, 1800 Channahon Road, Joliet, IL 60436
Powerton Station, 13082 East Manito Road, Pekin, IL 61554
Waukegon Station, 10 Greenwood Avenue, Waukegan, IL 60087
Will County Station, 529 East Romeo Road, Romeoville, IL 60441
04 MIDWEST PEAKER HOLDINGS, INC. (Delaware corporation) 100%
04 Mission Capital, LP (Delaware LP) 3%; MIPS partnership
21
04 MISSION DEL CIELO, INC. 100%
05 Mission Del Sol, LLC (Delaware LLC) 100%
06 SUNRISE POWER COMPANY, LLC 50% [EWG] [See 4.EME25]
Address: 12857 Sunrise Power Road, Fellows, CA 93224
07 Mission De Las Estrellas LLC 100%
04 MISSION/EAGLE ENERGY COMPANY (Inactive)
04 MISSION ENERGY CONSTRUCTION SERVICES, INC.
04 MISSION ENERGY GENERATION, INC. (Inactive)
04 MISSION ENERGY HOLDINGS, INC.
05 Mission Capital, LP (Delaware LP) 97%; MIPS partnership
04 MISSION ENERGY HOLDINGS INTERNATIONAL, INC. [holds 100% of the issued and outstanding Class A shares of
MEC International B.V. (99.97%)--see INTERNATIONAL section]
05 EME Investments, LLC (Delaware LLC) 100% [Contact Energy Acq.]
05 EME SOUTHWEST POWER CORPORATION (Delaware corporation) 100% [holds 100% of the issued and outstanding
Class C shares of MEC International B.V. (0.01%)--see INTERNATIONAL section]
05 EME UK International LLC (Delaware LLC) 100% [holds 100% of the issued and outstanding Class B stock of
MEC International B.V. (0.01%)--see INTERNATIONAL section]
04 MISSION ENERGY INDONESIA (Inactive)
04 MISSION ENERGY MEXICO (Inactive) formerly the branch office in Mexico (no partnership)
04 MISSION ENERGY NEW YORK, INC. (GP and LP)
05 Brooklyn Navy Yard Cogeneration Partners, LP (Delaware partnership) 50% [See 4.EME01]
Address: Flushing Avenue, Cumberland Street, Building 41, Brooklyn, NY 11205
04 MISSION ENERGY WALES COMPANY
05 Mission Hydro Limited Partnership 30%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
06 EME Generation Holdings Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Loyvic Pty Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
08 Energy Capital Partnership (Australia partnership) 1%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
09 Enerloy Pty Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
07 EME Victoria Generation Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
08 Energy Capital Partnership (Australia partnership 98%
09 Enerloy Pty Ltd. (Australia company) 100%
08 Mission Energy Development Australia Pty Ltd. 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
09 Gippsland Power Pty Ltd 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
10 Loy Yang B Joint Venture 49% [See 4.EME11]
Address: Bartons Lane, Loy Yang, Victoria, Australia 3844
07 Energy Capital Partnership (Australia partnership) 1%LP
08 Enerloy Pty Ltd. (Australia company) 100%
07 First Hydro Holdings Company (Australia partnership) 99%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
08 First Hydro Company 99% [See 4.EME15]
Address: Bala House, St. David's Park, Ewloe, Dlwyd, Wales CH5 3XJ
08 First Hydro Finance plc 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
22
09 First Hydro Company 1% [See 4.EME15]
Address: Bala House, St. David's Park, Ewloe, Dlwyd, Wales CH5 3XJ
04 Mission Operations de Mexico, S.A. de C.V. (Inactive) 1%
Address: Bosques de Ciruelos No. 304 2 Piso, Colonia Bosques de las Lomas, 11700 Mexico Distrito Federal
04 MISSION TRIPLE CYCLE SYSTEMS COMPANY (GP)
05 Triple Cycle Partnership (Texas G.P.) 50%
04 NORTH JACKSON ENERGY COMPANY (Inactive)
04 NORTHERN SIERRA ENERGY COMPANY (GP)
05 Sobel Cogeneration Company (general partnership) 50%
04 ORTEGA ENERGY COMPANY
04 PANTHER TIMBER COMPANY (GP)
05 American Kiln Partners, LP (Delaware limited partnership) 2%
04 PARADISE ENERGY COMPANY (Inactive)
04 PLEASANT VALLEY ENERGY COMPANY (GP)
05 American Bituminous Power Partners, LP (Delaware limited partnership) 0.5%; 50% w/ Aguila
Address: Grant Town Power Plant, Highway 17, Grant Town, WV 26574
06 American Kiln Partners, LP (Delaware Limited Partnership) 0.5% of 53%
04 PRINCE GEORGE ENERGY COMPANY (LP)
[This entity and its subsidiaries were sold on 06/29/2001]
05 Hopewell Cogeneration Limited Partnership (Delaware limited partnership) 24.75%
05 Hopewell Cogeneration Inc. (Delaware corporation) 25%
06 Hopewell Cogeneration Limited Partnership (Delaware limited partnership) 1%
04 QUARTZ PEAK ENERGY COMPANY (LP)
[Quartz Peak sold partnership interests in Nevada Sun-Peak on 12/05/2001]
05 Nevada Sun-Peak LP (Nevada partnership) 50% [See 4.EME07]
Address: 200 South Virginia Street, Reno, NV 89501
04 RAPIDAN ENERGY COMPANY (GP)
05 Gordonsville Energy, LP (Delaware partnership) 1%; 50% w/ Madison [See 4.EME03]
Address: 115 Red Hill Road, Gordonsville, VA 22942
04 REEVES BAY ENERGY COMPANY (GP and LP)
05 North Shore Energy LP (Delaware partnership) 50%; 100% w/ Santa Clara
06 Northville Energy Corporation (New York corp.) 100%
04 RIDGECREST ENERGY COMPANY (GP)
05 Riverhead Cogeneration I, LP (Delaware partnership) 50%; 100% w/ Centerport
04 RIO ESCONDIDO ENERGY COMPANY
04 RIVERPORT ENERGY COMPANY (GP and LP)
05 Riverhead Cogeneration II, LP (Delaware partnership) 50%; 100% w/ San Pedro
04 SAN GABRIEL ENERGY COMPANY (Inactive)
04 SAN JOAQUIN ENERGY COMPANY (GP)
05 Midway-Sunset Cogeneration Company, LP 50%
Address: 3466 West Crocker Springs Road, Fellows, CA 93224
04 SAN JUAN ENERGY COMPANY (GP)
05 March Point Cogeneration Company 50%
04 SAN PEDRO ENERGY COMPANY (GP)
05 Riverhead Cogeneration II, LP (Delaware partnership) 50%; 100% w/ Riverport
04 SANTA ANA ENERGY COMPANY (GP)
05 Riverhead Cogeneration III, LP (Delaware partnership) 50%; 100% w/ Indian Bay
04 SANTA CLARA ENERGY COMPANY (GP)
05 North Shore Energy, LP (Delaware partnership) 50%; 100% w/ Reeves Bay
06 Northville Energy Corporation (New York corporation) 100%
04 SILVERADO ENERGY COMPANY (GP)
05 Coalinga Cogeneration Company 50%
Address: 32812 West Gate Road, Bakersfield, CA 93210
04 SILVER SPRINGS ENERGY COMPANY
05 Georgia Peaker, LP (Delaware limited partnership) 50%; 100% w/ Lakeview
04 SONOMA GEOTHERMAL COMPANY (Inactive)
23
04 SOUTH COAST ENERGY COMPANY (GP)
05 Harbor Cogeneration Company 30% [See 4.EME04]
Address: 420 Henry Ford Avenue, Wilmington, CA 93210
04 SOUTHERN SIERRA ENERGY COMPANY (GP)
05 Kern River Cogeneration Company (general partnership) 50%
Address: SW China Grade Loop, Bakersfield, CA 93308
04 THOROFARE ENERGY COMPANY (Inactive)
04 VIEJO ENERGY COMPANY (GP)
05 Sargent Canyon Cogeneration Company 50%
Address: Star Route 42, Sargents Road, San Ardo, CA 93450
04 VISTA ENERGY COMPANY (New Jersey corporation) (Inactive)
04 WESTERN SIERRA ENERGY COMPANY (GP)
05 Sycamore Cogeneration Company (general partnership) 50%
Address: SW China Grade Loop, Bakersfield, CA 93308
EDISON MISSION ENERGY INTERNATIONAL COMPANIES [all foreign corporation names bold]:
05 MEC International B.V. (Netherlands corporation) (Holding Company 99.99% owned by Mission Energy
Holdings International, Inc., a California corp. (owns 100% of Class A Shares) and 0.01% by EME UK
International LLC, a Delaware LLC (owns 100% of Class B shares)
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
06 Adelaide Ventures Ltd. (Cayman Island company) 100%
Address: Walker House, Mary Street, P.O. Box 265GT, George Town, Grand Cayman, Cayman Islands
06 Beheer-en Beleggingsmaatschappij Jydeno B.V. 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Vindoor Investments (Mauritius) Limited 10%
Address: BAI Building, 5th Floor, Pope Hennessey Street, Port Luis, Mauritius
08 Coaltrade Services International Pte Ltd 100%
Address: 10 Anson Road, #18-12, International Plaza, Singapore 079903
06 Edison Mission Advantage B.V. 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Edison Mission LYB PEDS Pty Ltd (formerly Edison Mission De Laide Pty Ltd. (Australian company)
100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
06 Edison Mission Energy Asia Pte Ltd. (Singapore private
company limited by shares) 100% (EME's Regional Asia Pacific Headquarters)
Address: 391-B Orchard Road, Ngee Ann City, Tower B, 14th Floor, #14-08/10, Singapore 238874
07 Edison Mission Energy Asia Pacific Pte Ltd. (Singapore corporation) 100%
Address: 391-B Orchard Road, Ngee Ann City, Tower B, 14th Floor, #14-08/10, Singapore 238874
07 Edison Mission Energy Fuel Company Pte Ltd. (Singapore corporation) 100%
Address: 391-B Orchard Road, Ngee Ann City, Tower B, 14th Floor, #14-08/10, Singapore 238874
07 Edison Mission Operation & Maintenance Services Pte Ltd 100%
Address: 391-B Orchard Road, Ngee Ann City, Tower B, 14th Floor, #14-08/10, Singapore 238874
07 P.T. Edison Mission Operation and Maintenance Indonesia (Indonesian company) 99%
Address: Jl. Gen. A Yani No. 54 Probolinggo, East Java, Indonesia
06 Edison Mission Energy International B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Edison Mission Energy Services B.V. (Netherlands co.) 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Edison Mission Millennium B.V. (Netherlands company) 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 EME Caliraya B.V. (formerly Beheer-en Beleggingsmaatschappij Trepo B.V. 75%
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
24
08 CBK Power Company Ltd. (Philippine LP) 49%
Address: 1701 One Magnificent Mile Building, San Miguel Avenue, Ortigas Center, Pasig City,
Philippines [See 4.EME23]
07 EME Kayalaan B.V. (formerly Beheer-en Beleggingsmaatschappij Hagra B.V. 100%
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
08 CBK Power Company Ltd. (Philippine LP) 1%
Address: 1701 One Magnificent Mile Building, San Miguel Avenue, Ortigas Center, Pasig City,
Philippines [See 4.EME23]
06 Edison Mission Operation & Maintenance Services B.V. (Netherlands company) 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Edison Mission Operation & Maintenance (Thailand) Company Limited 100%
Address: 7th Fl. Bubhajit Bldg., 20 North Sathorn Road, Kwaeng Silom, Khet Bangrak, Bangkok
07 EME Philippines Services Corporation [formerly EME Philippines OandM Corporation (Philippines
co.) 100%
Address: Unit 1105, Tower One, Ayala Triangle, Ayala Avenue, Makati City, Philippines
07 Kalayaan Power Management Corporation 50% [EWG] [See 4.EME24]
Address: 1701 One Magnificent Mile Building, San Miguel Avenue, Ortigas Center, Pasig City,
Philippines
06 Edison Mission Wind Power Italy B.V. (formerly IVPC Energy 5 B.V.) 100%
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
07 Italian Vento Power Corporation 4 S.r.l. (joint venture) 50% [See 4.EME21]
Address: Via Circumvallazione, 54/h, 83100 Avellino, Italy
06 EME Atlantic Holdings Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 EME Ascot Limited (UK company) 100% [Contact Energy Project, 2nd Stage]
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
08 EME Buckingham Limited (UK company) 100% [Contact Energy Project, 2nd Stage]
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
09 EME Precision B.V. (Netherlands company) (formerly Beheer-en-Beleggingsmaatschappij Pylamo
B.V.) 100% [Contact Energy Project, 2nd Stage]
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
10 Mission Energy Universal Holdings [formerly EME Universal Holdings (New Zealand
company) 100% [Contact Energy Project, 2nd Stage]
Address: Lansdowne House, Berkeley Square, London W1X 5DH
England
11 Contact Energy Limited (New Zealand company) (equity) 0.624% [See 4.EME10]
Address: Level 1, Harbor City Tower, 29 Brandon Street, Box 10-742, Wellington,
New Zealand
11 Mission Contact Finance Limited (New Zealand company) 100%
Address: Bell Gully, IBM Centre, 171 Featherston Street, Wellington, New Zealand
11 Mission Energy Five Star (New Zealand company) 100%
Address: IBM Centre, 171 Featherston Street, Wellington, New
Zealand
11 Mission Energy Pacific Holdings [formerly EME Pacific Holdings (New Zealand
company) 100% [Contact Energy Project, 2nd Stage]
Address: IBM Centre, 171 Featherston Street, Wellington, New
Zealand
12 Contact Energy Limited (New Zealand company) (equity) 50.598%
[See 4.EME09]
06 EME Tri Gen B.V. 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Tri Energy Company Limited (Thai limited liability company) (Tri Energy Project) (equity) 25%
[See 4.EME13]
Address: Grand, Amarin Tower, 16th Floor, New Petchburi Road, Ratchathewi, Bangkok 10320
Thailand
25
06 EME Victoria B.V. 100% (Inactive)
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 First Hydro Renewables Limited, a UK company 100%
Address: Dinorwig Power Station, Llamberis, Gwynedd, LL55 4TY, Wales
07 Celtic Offshore Wind Limited 96%
Address: The Long Barn, Waen Farm, Nercwys Road, Mold, Flintshire, CH7 4ED, Wales
07 First Hydro Renewables (COWL) Limited 100%
Address: Dinorwig Power Station, Llamberis, Gwynedd, LL55 4TY, Wales
06 Global Generation B.V. 100%
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
07 Caresale Services Limited (UK LLC) 49%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Edison First Power Holdings II (UK LLC) 100% [PowerGen project]
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
08 Edison First Power Holdings I (UK LLC) 100% [PowerGen project]
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
09 Caresale Services Limited (UK LLC) 51%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
09 Edison Mission Marketing and Services Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
09 EME Finance UK Limited (UK LLC) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
09 South Australian Holdings Ltd. 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
10 Edison Mission Retail Pty Ltd. (Australian co.) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
10 Edison Mission Utilities Pty. Ltd. (Australian company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
10 EME International Dragon Limited (UK) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
11 Edison Mission Ausone Pty Ltd. (Australian co.) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne,
3205 Victoria, Australia
11 EME Adelaide Energy Ltd. (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
11 EME Monet Ltd. (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
12 Edison Mission Vendesi Pty Ltd. (Australian company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne,
3205 Victoria, Australia
08 Energy Generation Finance PLC (UK) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
08 Maplekey Holdings Limited (UK LLC) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
09 Maplekey UK Finance Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
10 Maplekey UK Limited (UK LLC) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
11 Edison First Power Limited (Guernsey LLC) 100% [See 4.EME16]
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
[sold interests in Fiddler's Ferry and Ferrybridge on 12/21/2001]
07 Redbill Contracts Limited (UK LLC) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
06 Hydro Energy B.V. (Netherlands LLC) 10%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
26
07 Iberica de Energias, S.L. (Spain corporation) 96.65% [See 4.EME17]
Address: Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
08 Electrometalurgica del Ebro, S.L. ("EMESA") (Spain corporation) 91.32% [See 4.EME18]
Address: Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
09 Monasterio de Rueda, S.L. (Spain) 100%
Address: Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
06 Iberian Hy-Power Amsterdam B.V. (Netherlands LLC) 100%
Address: Strawinskylaan 1725, Amsterdam, NOORD-HOLL 1077 XX
07 EME Desarrello Espana S.L. 100%
Address: Paseo de Gracia 18, 4o. Piso, 08007, Barcelona, Spain
07 Hydro Energy B.V. (Netherlands company) 90%
08 Iberica de Energias, S.L. (Spain corporation) 96.65% [See 4.EME17]
09 Electrometalurgica del Ebro, S.L. ("EMESA") (Spain corporation) 91.32%
[See 4.EME18]
10 Monasterio de Rueda, S.L. (Spain) 100%
07 Iberica de Energias, S.L. (Spain corporation) 3.35% [See 4.EME17]
08 Electrometalurgica del Ebro, S.L. ("EMESA") (Spain corporation) 91.32%
[See 4.EME18]
09 Monasterio de Rueda, S.L. (Spain) 100%
06 Latrobe Power Pty. Ltd. (Australian corporation) 99%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
07 Mission Victoria Partnership (Australian partnership) 52.31% (100% w/ Traralgon PPL 46.69% and
MEVALP 1%)
08 Latrobe Power Partnership (Australian partnership) 99%
09 Loy Yang B Joint Venture 51% [See 4.EME11]
Address: Bartons Lane, Loy Yang, Victoria, Australia 3844
06 Latrobe Valley B.V. [formerly Beheer-en Beleggingsmaatschappij Botara B.V.] (LYB Peakers Project)
100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Valley Power Pty Ltd. (proprietary limited Australia company; LYB Peakers Project)
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
06 Loy Yang Holdings Pty Ltd (Australia corporation) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
07 Edison Mission Energy Holdings Pty Ltd (Australian corporation) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
08 Edison Mission Energy Australia Ltd. (Australian public company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
09 Latrobe Power Partnership (Australian partnership) 1%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
10 Loy Yang B Joint Venture 51% [See 4.EME11]
08 Edison Mission Energy Australia Pilbara Power Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
08 Edison Mission Operation & Maintenance Kwinana Pty Ltd. (Australia) 100% (Operator of Kwinana
Project)
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
08 Edison Mission Operation & Maintenance Loy Yang Pty Ltd. (Australian corporation) 100%
Address: P.O. Box 1792, Traralgon, Victoria 3844, Australia
27
08 Mission Energy Holdings Superannuation Fund Pty Ltd. (retirement fund required by Australia
law) 100%
08 Mission Energy (Kwinana) Pty Ltd. (Australia) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
09 Kwinana Power Partnership (Australian G.P.) 1%
Address: Level 23, St. Martins Tower, 44 St George's Terrace, Perth WA 6000
10 Perth Power Partnership 70% (Kwinana Project) [See 4.EME10]
Address: James Court, Kwinana Beach 6167, Western Australia
07 Latrobe Power Pty. Ltd. (Australian corporation) 1%
08 Mission Victoria Partnership (Australian partnership) 52.31%
09 Latrobe Power Partnership (Australian partnership) 99%
10 Loy Yang B Joint Venture 51% [See 4.EME11]
07 Mission Energy Ventures Australia Pty. Ltd. (Australian company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
08 Mission Victoria Partnership (Australian partnership) 1%
09 Latrobe Power Partnership (Australian partnership) 99%
10 Loy Yang B Joint Venture 51% [See 4.EME11]
07 Traralgon Power Pty. Ltd. (Australian corporation) 1%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
08 Mission Victoria Partnership (Australian partnership) 46.69%
09 Latrobe Power Partnership (Australian partnership) 99%
10 Loy Yang B Joint Venture 51% [See 4.EME11]
06 MEC Esenyurt B.V. (Netherlands company) (Doga Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Doga Enerji Uretim Sanayi ve Ticaret L.S. (Turkish corp.) (Project company) 80% [See 4.EME22]
Address: Merkez Mahallesi, Birlik Caddesi 11/8, Esenyurt, Istanbul, Turkey
07 Doga Isi Satis Hizmetleri ve Ticaret L.S. (Turkish corporation) (Heat company) 80%
Address: Merkez Mahallesi, Birlik Caddesi 11/8, Esenyurt, Istanbul, Turkey
07 Doga Isletme ve Bakim Ticaret L.S. (Turkish corporation) (OandM company) 80%
Address: Merkez Mahallesi, Birlik Caddesi 11/8, Esenyurt, Istanbul, Turkey
06 MEC IES B.V. (Netherlands company) (ISAB Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 ISAB Energy Services s.r.l. 49% (services co ISAB Project)
Address: Ex S.S. 114km 146, 96100 Priolo G (SR), Sicily, Italy
06 MEC India B.V. (Netherlands company) (Jojobera Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Edison Mission Energy Power (Mauritius corporation) (Branch office in India)
Address: Louis Leconte Street, Curepipe, Mauritius
06 MEC Indo Coal B.V. (Netherlands co.) (Adaro Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 P. T. Adaro Indonesia (equity) 8.17%
Address: Suite 704, World Trade Centre, Jl. Jend. Sudirman Kav. 31, Jakarta 12920 Indonesia
06 MEC Indonesia B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 PT. Paiton Energy (Indonesia company) (equity) (Paiton Project) 40% [See 4.EME12]
Address: Jl. Raya Surabaya Situbondo KM 141, Paiton 67291, Probolinggo, East Java, Indonesia
06 MEC International Holdings B.V. (Netherlands corporation) 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Edison Mission Energy International B.V. (Netherlands company) 1%
07 MEC Esenyurt B.V. (Netherlands co.) (Doga Project) 1%
08 Doga Enerji Uretim Sanayi ve Ticaret L.S. (Turkish corp.) (Project company) 80% [See 4.EME22]
28
08 Doga Isi Satis Hizmetleri ve Ticaret L.S. (Turkish corporation) (Heat company) 80%
08 Doga Isletme ve Bakim Ticaret L.S. (Turkish corporation) (OandM company) 80%
07 MEC IES B.V. (Netherlands company) (ISAB Project) 1%
08 ISAB Energy Services s.r.l. 49%
07 MEC India B.V. (Netherlands company) 1%
08 Edison Mission Energy Power (Mauritius corporation)
07 MEC Indo Coal B.V. (Netherlands co.) (Adaro Project) 1%
08 P. T. Adaro Indonesia (equity) 8.17%
07 MEC Indonesia B.V. (Netherlands company) 1%
08 PT. Paiton Energy (Indonesia company) (equity) (Paiton Project) 40% [See 4.EME12]
07 MEC Laguna Power B.V. (Netherlands company) (Thailand Project) 1%
08 Gulf Power Generation Co. Ltd. (Bangkok corp.) 40%
07 MEC Perth B.V. (Netherlands company) (Kwinana Project) 1%
08 Kwinana Power Partnership (Australian G.P.) 99%
09 Perth Power Partnership 70% (Kwinana Project) [See 4.EME10]
07 MEC Priolo B.V. (Netherlands company) (ISAB Project) 1%
08 ISAB Energy, s.r.l. (Italian J.V. company) (equity) 1% of 49% (quota, not shares)
[See 4.EME20]
07 MEC San Pascual B.V. (Netherlands company) 1%
08 San Pascual Cogeneration Company International B.V. 50%
09 San Pascual Cogeneration Company (Philippines) Ltd. (San Pascual Project) (equity) 1%GP
and 74%LP
08 Morningstar Holdings B.V. (formerly Beheer-en Beleggingsmaatschappij Vestra B.V.) 50%
07 MEC Sidi Krir B.V. (Netherlands company) 1%
07 MEC Sumatra B.V. (Netherlands company) 1%
07 MEC Wales B.V. (Netherlands Company) 1%
08 Mission Hydro Limited Partnership (UK LP)
09 EME Generation Holdings Limited (UK Co.) 100%
10 Loyvic Pty Ltd. (Australia company) 100%
11 Energy Capital Partnership (Australia partnership) 1%
12 Enerloy Pty Ltd. (Australia co.) 100%
10 EME Victoria Generation Limited (UK co.) 100%
11 Energy Capital Partnership (Australia partnership 98%
12 Enerloy Pty Ltd. (Australia company) 100%
11 Mission Energy Development Australia Pty Ltd.
12 Gippsland Power Pty Ltd 100%
13 Loy Yang B Joint Venture 49% [See 4.EME11]
10 Energy Capital Partnership (Australia partnership) 1%LP
11 Enerloy Pty Ltd. (Australia company) 100%
10 First Hydro Holdings Company (Australia partnership) 99%
11 First Hydro Company 99% [See 4.EME15]
11 First Hydro Finance plc 100%
12 First Hydro Company 1% [See 4.EME15]
07 Mission Energy Italia s.r.l. 10% (Office in Italy)
Address: via Mar della Cina, 304, 00144 Rome, Italy
07 P.T. Edison Mission Operation and Maintenance Indonesia (Indonesian company) 1%
Address: Jl. Raya Surabaya Situbondo Km 141, P.O. Box
78, Paiton 67291, Probolinggo, East Java, Indonesia
06 MEC Laguna Power B.V. (Netherlands co) (Malaya Proj) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Gulf Power Generation Co. Ltd. (Bangkok corporation) 40%
Address: 888/101 Mahatun Plaza Tower, 10th Floor, Ploenchit, Lumphini, Patumwan, Bangkok 10330
06 MEC Perth B.V. (Netherlands co.) (Kwinana Project) 99%
07 Kwinana Power Partnership (Australian G.P.) 99%
Address: Level 23, St. Martins Tower, 44 St George's Terrace, Perth WA 6000
29
08 Perth Power Partnership 70% (Kwinana Project) [See 4.EME10]
Address: James Court, Kwinana Beach 6167, Western Australia
06 MEC Priolo B.V. (Netherlands co.) (ISAB Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 ISAB Energy, s.r.l. (Italian J.V. company) (equity) 99% of 49% (quota, not shares)
[See 4.EME20]
Address: Corso Gelone No. 103, Siracusa, Sicily, Italy
06 MEC San Pascual B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
07 San Pascual Cogeneration Company International B.V. 50%
Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
08 San Pascual Cogeneration Company (Philippines) Ltd (San Pascual Project) (equity) 1%GP and
74%LP
Address: Unit 1610/1611, Tower One, Ayala Triangle, Ayala Ave, 1200 Makati City, Metro
Manila, Philippines
07 Morningstar Holdings B.V. (formerly Beheer-en Beleggingsmaatschappij Vestra B.V.) 50%
Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
06 MEC Sidi Krir B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 MEC Sumatra B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 MEC Wales B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
07 Mission Hydro Limited Partnership 69%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
08 EME Generation Holdings Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
09 Loyvic Pty Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
10 Energy Capital Partnership (Australia partnership) 1%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
11 Enerloy Pty Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne,
3205 Victoria, Australia
09 EME Victoria Generation Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
10 Energy Capital Partnership (Australia partnership 98%
11 Enerloy Pty Ltd. (Australia company) 100%
10 Mission Energy Development Australia Pty Ltd. 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
11 Gippsland Power Pty Ltd 100%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne,
3205 Victoria, Australia
12 Loy Yang B Joint Venture 49% [See 4.EME11]
Address: Bartons Lane, Loy Yang, Victoria, Australia 3844
09 Energy Capital Partnership (Australia partnership) 1%LP
10 Enerloy Pty Ltd. (Australia company) 100%
09 First Hydro Holdings Company (Australia partnership) 99%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
10 First Hydro Company 99% [See 4.EME15]
Address: Bala House, St. David's Park, Ewloe, Dlwyd, Wales CH5 3XJ
10 First Hydro Finance plc 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
30
11 First Hydro Company 1% [See 4.EME15]
Address: Bala House, St. David's Park, Ewloe, Dlwyd, Wales CH5 3XJ
06 Mission Energy Company (UK) Limited (United Kingdom private limited company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Derwent Cogeneration Limited (United Kingdom private limited liability company) (equity) 33%
[See 4.EME14]
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Edison Mission Energy Limited (UK private limited company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Edison Mission Operation & Maintenance Limited (a United Kingdom corporation) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Edison Mission Services Limited (UK private limited company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Mission Hydro (UK) Limited 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
08 First Hydro Holdings Company 1%
09 First Hydro Company 99% [See 4.EME15]
09 First Hydro Finance plc 100%
10 First Hydro Company 1% [See 4.EME15]
08 Mission Hydro Limited Partnership 1%GP
09 EME Generation Holdings Limited (UK co.) 100%
10 Loyvic Pty Ltd. (Australia company) 100%
11 Energy Capital Partnership (Australia partnership) 1%
12 Enerloy Pty Ltd. (Australia co.) 100%
10 EME Victoria Generation Limited (UK co.) 100%
11 Energy Capital Partnership (Australia partnership 98%
12 Enerloy Pty Ltd. (Australia co.) 100%
11 Mission Energy Development Australia Pty Ltd.
12 Gippsland Power Pty Ltd 100%
13 Loy Yang B Joint Venture 49% [See 4.EME11]
10 Energy Capital Partnership (Australia partnership) 1%LP
11 Enerloy Pty Ltd. (Australia company) 100%
10 First Hydro Holdings Company (Australia partnership) 99%
11 First Hydro Company 99% [See 4.EME15]
11 First Hydro Finance plc 99%
12 First Hydro Company 1% [See 4.EME15]
07 Pride Hold Limited (United Kingdom corp.) 99%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
08 Lakeland Power Ltd. (United Kingdom private limited liability company) 100%
[See 4.EME19]
Address: Roosecote Power Station, Barrow-In-Furness, Cumbria, England LA13 OPQ
08 Lakeland Power Development Company (UK corp.) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Rapid Energy Limited
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
06 Mission Energy Italia s.r.l. 90% Rep Office in Italy
Address: Villa Brasini, Via Flaminia 497, 00191 Rome Italy
06 Mission NZ Operations B.V. 100% (Inactive)
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Pride Hold Limited (United Kingdom corporation) 1%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Lakeland Power Development Company (UK corp.) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH England
07 Lakeland Power Ltd. (United Kingdom private limited liability company) 100% [See 4.EME19]
Address: Roosecote Power Station, Barrow-In-Furness, Cumbria, England LA13 OPQ
31
06 EcoElectrica S.a.r.l. (Luxemburg)
Address: 12-16, Avenue Monterey, L-2163 Luxembourg
07 EME del Caribe Holding GmbH (Austria)
Address: 4020 Linz, Landstrasse 12, Austria
08 EME del Caribe (Cayman Islands)
Address: First Floor, Caledonian House, Mary St, George Town, Grand Cayman, Cayman Islands
09 EcoElectrica Holdings, Ltd. (Cayman Islands) 50%
Address: 1350 GT, The Huntlaw Building, Fort Street, Grand Cayman, Cayman Islands
10 EcoElectrica Ltd. (Cayman Islands) 100%
Address: 1350 GT, The Huntlaw Building, Fort Street, Grand Cayman, Cayman Islands
11 EcoElectrica LP (Bermuda partnership) (equity) 1% [See 4.EME08]
Address: Plaza Scotiabank, 273 Ponce de Leon Avenue, Suite 902, Hato Rey, Puerto
Rico 00918
10 EcoElectrica LP (Bermuda partnership) (equity) 99% [See 4.EME08]
Address: Plaza Scotiabank, Suite 902, Avenida Ponce de Leon 273, Hato Rey, Puerto
Rico 00918
06 Southwestern Generation B.V. 100%
Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
06 Traralgon Power Pty. Ltd. (Australian corporation) 99%
Address: Southgate Complex, Level 20, HWT Tower, 40 City Road, South Melbourne, 3205 Victoria,
Australia
07 Mission Victoria Partnership (Australian partnership) 46.69% (100% w/ Latrobe PPL 52.31% and
MEVALP 1%)
08 Latrobe Power Partnership (Australian partnership) 99%
09 Loy Yang B Joint Venture 51% [See 4.EME11]
32
2. A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES USED
FOR THE GENERATION, TRANSMISSION, AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE PRODUCTION,
TRANSMISSION AND DISTRIBUTION OF NATURAL OR MANUFACTURED GAS, INDICATING THE LOCATION OF PRINCIPAL GENERATING
PLANTS, TRANSMISSION LINES, PRODUCING FIELDS, GAS MANUFACTURING PLANTS, AND ELECTRIC AND GAS DISTRIBUTION
FACILITIES, INCLUDING ALL SUCH PROPERTIES WHICH ARE OUTSIDE THE STATE IN WHICH CLAIMANT AND ITS SUBSIDIARIES ARE
ORGANIZED AND ALL TRANSMISSION OR PIPELINES WHICH DELIVER OR RECEIVE ELECTRIC ENERGY OR GAS AT THE BORDERS OF
SUCH STATE.
Claimant is not a "public utility company" as that term is defined in the Public Utility Holding Company Act of
1935 (the "Act") and does not own any properties used for the generation, transmission and distribution of
electric energy for sale, or for the production, transmission and distribution of natural or manufactured gas.
None of Claimant's subsidiaries, other than SCE, is a public utility company. SCE is an "electric utility
company" as defined in the Act and owns properties used for the generation, transmission and distribution of
electric energy for sale, as described herein.
SCE owns and operates one diesel-fueled generating plant, 36 hydroelectric plants (plus two fishwater generators
shown in the detail below) and an undivided 75.05% interest in Units 2 and 3 of the San Onofre Nuclear Generating
Station. These plants are located in Central and Southern California. Of the above mentioned hydroelectric
plants, one of them, along with the diesel-fueled generating plant, serve isolated load on Catalina Island. SCE
also owns an undivided 15.8% interest in Units 1, 2 and 3 of the Palo Verde Nuclear Generating Station, located
near Phoenix, Arizona, and an undivided 48% interest in Units 4 and 5 of the Four Corners Project, a coal-fueled
steam electric generating plant in New Mexico, all of which are operated by other utilities. SCE operates and
owns a 56% undivided interest in two coal-fueled steam electric generating units at the Mohave Project in Clark
County, Nevada. Schedule I attached hereto contains a list of all of the SCE-owned generating plants with their
locations, initial dates of operation and generator nameplate ratings.
SCE's transmission facilities consist of approximately 7,225.3 circuit miles of 33kV, 55kV, 66kV, 115kV and 161kV
lines, 3,523.6 circuit miles of 220kV lines, and 1235.9 circuit miles of 500kV lines consisting of 998.4 miles in
California, 125.4 miles in Nevada and 112.1 miles in Arizona. SCE's distribution facilities consist of
approximately 60,739.1 overhead circuit miles and 33,973.9 underground circuit miles, and 563 distribution
substations, all of which are located in California.
33
3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH RESPECT TO CLAIMANT AND EACH OF ITS SUBSIDIARY
PUBLIC UTILITY COMPANIES:
(a) NUMBER OF KWH. OF ELECTRIC ENERGY SOLD (AT RETAIL OR WHOLESALE), AND MCF. OF NATURAL OR MANUFACTURED GAS
DISTRIBUTED AT RETAIL.
Claimant: None.
SCE:
(1) 78,453,624,000 kwh of electric energy sold at retail.
(2) $7,393,728,255 of total revenues from such sales.
(b) NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL OUTSIDE THE
STATE IN WHICH EACH COMPANY IS ORGANIZED.
Claimant: None.
SCE: None.
(c) NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS SOLD AT WHOLESALE OUTSIDE THE
STATE IN WHICH EACH SUCH COMPANY IS ORGANIZED, OR AT THE STATE LINE.
Claimant: None.
SCE:
(1) 57,980,000 kwh of electric energy sold at wholesale outside of California or at the state line.
(2) $24,997,373 of total revenues from such sales.
(d) NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS PURCHASED OUTSIDE THE STATE IN
WHICH EACH SUCH COMPANY IS ORGANIZED OR AT THE STATE LINE.
Claimant: None.
SCE:
(1) 1,692,768,170 kwh of electric energy purchased at wholesale outside of California or at the state line.
(2) $191,257,254 of total expenses from such purchases.
34
4. THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH RESPECT TO CLAIMANT AND EACH INTEREST IT HOLDS
DIRECTLY OR INDIRECTLY IN AN EWG OR A FOREIGN UTILITY COMPANY, STATING MONETARY AMOUNTS IN UNITED STATES DOLLARS:
(a) NAME, LOCATION, BUSINESS ADDRESS AND DESCRIPTION OF THE FACILITIES USED BY THE EWG OR FOREIGN UTILITY
COMPANY FOR THE GENERATION, TRANSMISSION AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE OR FOR THE DISTRIBUTION AT
RETAIL OF NATURAL OR MANUFACTURED GAS.
(b) NAME OF EACH SYSTEM COMPANY THAT HOLDS AN INTEREST IN SUCH EWG OR FOREIGN UTILITY COMPANY; AND DESCRIPTION
OF THE INTEREST HELD.
(c) TYPE AND AMOUNT OF CAPITAL INVESTED, DIRECTLY OR INDIRECTLY, BY THE HOLDING COMPANY CLAIMING EXEMPTION; ANY
DIRECT OR INDIRECT GUARANTEE OF THE SECURITY OF THE EWG OR FOREIGN UTILITY COMPANY BY THE HOLDING COMPANY
CLAIMING EXEMPTION; AND ANY DEBT OR OTHER FINANCIAL OBLIGATION FOR WHICH THERE IS RECOURSE, DIRECTLY OR
INDIRECTLY, TO THE HOLDING COMPANY CLAIMING EXEMPTION OR ANOTHER SYSTEM COMPANY, OTHER THAN THE EWG OR FOREIGN
UTILITY COMPANY.
(d) CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY COMPANY DURING THE REPORTING PERIOD.
(e) IDENTIFY ANY SERVICE, SALES OR CONSTRUCTION CONTRACT(S) BETWEEN THE EWG OR FOREIGN UTILITY COMPANY AND A
SYSTEM COMPANY, AND DESCRIBE THE SERVICES TO BE RENDERED OR GOODS SOLD AND FEES OR REVENUES UNDER SUCH
AGREEMENT(S).
EDISON CAPITAL
4.EC01 ELECTRICIDAD DE LA PAZ S.A. [FUCO]
(a) Electricidad de la Paz S.A. ("Electropaz"), Avenida Illimani 1973, Casilla 10511, La Paz, Bolivia.
Electropaz's facilities consists of substations and distribution lines serving approximately 290,000 retail
customers in La Paz and El Alto, Boliva. Electropaz does not own generation or transmission facilities.
(b) Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company; Edison Funding Company owns 100% of Mission Funding Epsilon; Mission
Funding Epsilon through its wholly owned subsidiary, Edison Capital International (Bermuda) Ltd. owns a 14%
interest in Electropaz. Iberdrola II Investimentos Ltda is the majority owner of Electropaz; Banco Santander
Central Hispanoamericano S.A. owns a 10% interest; and Paz Holdings Ltd. owns a 32.9% interest. The voting
securities of Paz Holdings Ltd, 30.42%, are held by Edison Capital International (Bermuda) Ltd., with 43.22% held
by Andes Energy XII Ltd. and 26.36% held by GE Capital Services Structured Finance Group, Inc. Andes Energy XII
is wholly-owned by AIG-GE Capital Latin American Infrastructure Fund L.P. in which Edison Capital Latin American
Investments (Bermuda) Ltd. holds an indirect 7.89% interest. Edison Capital Latin American Investments (Bermuda)
Ltd. is a wholly owned indirect subsidiary of Edison Capital.
(c) Capital contributions were made by Edison Capital through its indirectly, wholly owned subsidiary Edison
Capital International (Bermuda) Ltd., in the amount of $7.0 million.
(d) Capitalization or total equity for the period ending December 31, 2000 = $48,625,985
Net income after taxes for 2000 = $7,000,150
(e) There are no service, sales or construction contracts between Electropaz and any system company.
35
4.EC02 EMPRESA DE LUZ Y FUERZA ELECTRICA DE ORURO S.A. [FUCO]
(a) Empresa de Luz y Fuerza Electrica de Oruro S.A. ("Elfeo"), Calle Junin No. 71, Casilla 53, Oruro, Boliva.
Elfeo's facilities used for the generation, transmission, or distribution of electric energy for sale consist
primarily of substations and distribution lines serving approximately 40,600 retail customers in the cities of
Oruro and Huaruni. Elfeo does not own generation or transmission facilities.
(b) Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company; Edison Funding Company owns 100% of Mission Funding Epsilon; Mission
Funding Epsilon through its wholly owned subsidiary, Edison Capital International (Bermuda) Ltd. owns a 14%
interest in Elfeo. Iberdrola II Investimentos Ltda. is the majority owner of Elfeo with 60.52% interest, and Paz
Holdings Ltd. owns a 32.9% interest. The voting securities of Paz Holdings Ltd., 30.42%, are held by Edison
Capital International (Bermuda) Ltd., with 43.22% held by Andes Energy XII Ltd. and 26.36% held by GE Capital
Services Structured Finance Group, Inc. Andes Energy XII is wholly-owned by AIG-GE Capital Latin American
Infrastructure Fund L.P. in which Edison Capital Latin American Investments (Bermuda) Ltd. holds an indirect
7.89% interest. Edison Capital Latin American Investments (Bermuda) Ltd. is a wholly owned indirect subsidiary
of Edison Capital.
(c) Capital contributions were made by Edison Capital through its indirectly, wholly owned subsidiary Edison
Capital International (Bermuda) Ltd, in the amount of $0.4 million.
(d) Capitalization or total equity for the period ending December 31, 2000 = $5,131,180
Net income after taxes for 2000 = $419,420
(e) There are no service, sales or construction contracts between Elfeo and any system company.
4.EC03 EPZ MISSION FUNDING MU TRUST [FUCO]
(a) EPZ Mission Funding MU Trust ("EPZMFMT") c/o Wilmington Trust Company, Rodney Square North, 1100 North
Market Square, Wilmington, Delaware 19890-0004
EPZMFMT owns a 7.88% interest in the Amercentrale Power Station Unit 9, which is leased to N.V.
Elektriciteits-Produktiemaatshappij Zuid-Nederland ("EPZ"), a Netherlands Public Utility. The Amercentrale Power
Station Unit 9 is a 600 megawatt (net) coal-fired cogeneration facility, with natural gas back-up capability,
located on 50 hectares (approximately 125 acres) at the Brabandt site in Geertruidenberg, approximately 50
kilometers southeast of Rotterdam, The Netherlands.
EPZMFMT has also acquired an undivided interest in or the right to use certain transmission facilities leading
from the Amercentrale Power Station to the 150 kV grid owned by Provinciale Noordbrabantse Energie-Maatschappij
("PNEM"), the distribution company that receives the power from Unit 9. EPZMFMT also owns an interest in or
rights to use transformers and associated equipment of EPZ designed to step up the power from the 21 kV level at
the generator to the 150 kV level required to enter the PNEM system. EPZMFMT has also acquired rights to use
certain other common facilities necessary to permit operation of Unit 9.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Edison Capital, which
owns 100% of Edison Funding Company, which owns 100% of Mission Funding Epsilon, which owns 100% of Mission
Funding Alpha, which owns 100% of Mission Funding Mu. EPZMFMT is a business trust created under the laws of the
State of Delaware. Mission Funding Mu is the 100% beneficial owner of the beneficial interest in EPZMFMT, the
foreign utility company. Wilmington Trust Company is the trustee of the Trust.
36
(c) Mission Funding Mu made a $13,000,000 equity investment in the sale/leaseback, and funds were borrowed on a
non-recourse basis in the amount of $87,000,000, in order to acquire the interest in the asset with a total cost
of $100,000,000. Mission Funding Mu also incurred out-of-pocket costs and fees of approximately $1,750,000.
The Mission Funding Mu investment and the related obligations have been guaranteed by its parent, Mission Funding
Alpha.
(d) Capitalization or total equity for the period ending December 31, 2001 = $24,296,678
Net income after taxes for 2001 = $947,380
(e) There are no contracts between EPZ and any system company.
4.EC04 EPZ MISSION FUNDING NU TRUST [FUCO]
(a) EPZ Mission Funding Nu Trust ("EPZMFNT") c/o Wilmington Trust Company, Rodney Square North, 1100 North
Market Square, Wilmington, Delaware 19890-0004
EPZMFNT owns a 17.72% interest in the Amercentrale Power Station Unit 9, which is leased to N.V.
Elektriciteits-Produktiemaatshappij Zuid-Nederland ("EPZ"), a Netherlands Public Utility. The Amercentrale Power
Station Unit 9 is a 600 megawatt (net) coal-fired cogeneration facility, with natural gas back-up capability,
located on 50 hectares (approximately 125 acres) at the Brabandt site in Geertruidenberg, approximately 50
kilometers southeast of Rotterdam, The Netherlands.
EPZMFNT has also acquired an undivided interest in or the right to use certain transmission facilities leading
from the Amercentrale Power Station to the 150 kV grid owned by Provinciale Noordbrabantse Energie-Maatschappij
("PNEM"), the distribution company that receives the power from Unit 9. EPZMFNT also owns an interest in or
rights to use transformers and associated equipment of EPZ designed to step up the power from the 21 kV level at
the generator to the 150 kV level required to enter the PNEM system. EPZMFNT has also acquired rights to use
certain other common facilities necessary to permit operation of Unit 9.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Edison Capital, which
owns 100% of Edison Funding Company, which owns 100% of Mission Funding Epsilon, which owns 100% of Mission
Funding Delta, which owns 100% of Mission Funding Nu. EPZMFNT is a business trust created under the laws of the
State of Delaware. Mission Funding Nu is the 100% beneficial owner of the beneficial interest in EPZMFNT, the
foreign utility company. Wilmington Trust Company is the trustee of the Trust.
(c) Mission Funding Nu made a $29,250,000 equity investment in the sale/leaseback, and funds were borrowed on a
non-recourse basis in the amount of $195,750,000, in order to acquire the interest in the asset with a total cost
of $225,000,000. Mission Funding Nu also incurred out-of-pocket costs and fees of approximately $3,937,500.
The Mission Funding Nu investment and the related obligations have been guaranteed by an affiliate, Mission
Housing Investments.
(d) Capitalization or total equity for the period ending December 31, 2001 = $51,917,594
Net income after taxes for 2001 = $2,074,581
(e) There are no contracts between EPZ and any system company.
4.EC05 LAKOTA RIDGE LLC [EWG]
(a) Lakota Ridge, L.L.C. ("Lakota"), c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota 56164.
37
Lakota is an 11.25 megawatt wind-driven electric generation facility (the "Facility") located on the Buffalo
Ridge in southwestern Minnesota, consisting of 15 Micon M1800 750 kW wind turbines atop tubular-type towers.
(b) Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company. Edison Funding Company, through its wholly owned subsidiary,
Mission Funding Zeta, owns a 75% interest in Lakota and Heller Financial, Inc. owns a 24.9% interest. Northern
Alternative Energy owns 0.1%. The manager of the Facility is DanMar & Associates.
(c) Edison Capital through its indirectly, wholly owned subsidiary, Mission Funding Zeta, made a capital
contribution of $4,667,030.
(d) Capitalization or total equity for the period ending December 31, 2000 = $5,160,817
Net loss after taxes for 2000 = ($654,980)
(e) There are no service, sales or construction contracts between Lakota and any system company.
4.EC06 SHAOKATAN HILLS LLC [EWG]
(a) Shaokatan Hills L.L.C. ("Shaokatan"), c/o DanMar & Associates, 520 Fifth Avenue SE, Pipestone, Minnesota
56164.
Shaokatan is a 11.9 megawatt wind-driven electric generation facility (the "Facility") located on the Buffalo
Ridge in southwestern Minnesota, consisting of 18 Vestas V-44 660 kW wind turbines atop tubular type towers.
(b) Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company. Edison Funding Company, through its wholly owned subsidiary,
Mission Funding Zeta, owns a 75% interest in Shaokatan and Heller Financial, Inc. owns a 24.9% interest.
Northern Alternative Energy owns 0.1%. The manager of the Facility is DanMar & Associates.
(c) Edison Capital through its indirectly, wholly owned subsidiary,
Mission Funding Zeta, made a capital contribution of $5,161,500.
(d) Capitalization or total equity for the period ending December 31, 2000 = $5,887,814
Net loss after taxes for 2000 = ($651,808)
(e) There are no service, sales or construction contracts between Shaokatan and any system company.
4.EC07 WOODSTOCK HILLS LLC [EWG]
(a) Woodstock Hills L.L.C. ("Woodstock"), c/o DanMar and Associates, 520 Fifth Avenue SE, Pipestone, Minnesota
56164.
Woodstock is a 10.2 megawatt windpowered electric generation facility (the "Facility") located on the Buffalo
Ridge in Southwestern Minnesota, consisting of 17 Vestas V-44 600 kW wind turbines atop tubular-type towers.
(b) Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company. Edison Funding Company, through its wholly owned subsidiary,
Mission Funding Zeta, owns a 75% interest in Woodstock and Heller Financial, Inc. owns a 24.9% interest.
Woodstock owns a 0.1% interest and is the manager of the Facility.
(c) Edison Capital through its indirectly, wholly owned subsidiary,
Mission Funding Zeta, made a capital contribution of $4,200,000.
38
(d) Capitalization or total equity for the period ending December 31, 2000 = $5,091,609
Net loss after taxes for 2000 = ($371,953)
(e) There are no service, sales or construction contracts between Woodstock and any system company.
4.EC08 STORM LAKE PARTNERS I LLC [EWG]
(a) Storm Lake Power Partners I LLC ("Storm Lake"), 13000 Jameson Road, Tehachapi, CA 93561.
Storm Lake is a 112.5 megawatt wind-driven electric generation facility (the "Facility") located on the Buffalo
Ridge in northwestern Iowa, consisting of 150 Zond, Z-50 750 kW wind turbines atop lattice towers.
(b) Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Edison Capital; Edison
Capital owns 100% of Edison Funding Company. Edison Funding Company, through its wholly owned subsidiary,
Mission Iowa Wind Company, owns a 99% interest in Storm Lake and Enron Storm Lake I LLC owns 1.0% interest and
operates the Facility.
(c) Edison Capital through its indirectly, wholly owned subsidiary,
Mission Iowa Wind Company, made a capital contribution of $92,500,000.
(d) Capitalization or total equity for the period ending December 31, 2000 = $83,073,000
Net loss after taxes for 2000 = ($5,273,000)
(e) There are no service, sales or construction contracts between Storm Lake and any system company.
EDISON MISSION ENERGY
4.EME01 BROOKLYN NAVY YARD COGENERATION PARTNERS, L.P. [EWG]
(a) Brooklyn Navy Yard Cogeneration Partners, L.P. ("BNY"), Flushing Avenue, Cumberland Street, Building 41,
Brooklyn, NY 11205
BNY's facilities consist of a 286MW combined cycle cogeneration facility located at Brooklyn Navy Yard Industrial
Park in Brooklyn, New York.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy, through its
wholly owned subsidiary Mission Energy New York, Inc., owns 50% of Brooklyn Navy Yard Cogeneration Partners,
L.P., the exempt wholesale generator.
(c) Capital contributions made by Edison Mission Energy through its subsidiary Mission Energy New York, Inc.,
were in the amount of $12,758,043. BNY completed a $407 million permanent non-recourse financing for the project
(the "Financing"). Edison Mission Energy agreed to indemnify BNY and its partners from all claims and costs
arising from or in connection with certain construction litigation between BNY (and its partners) and PMNC, as
contractor for BNY. Said indemnification has been assigned for the benefit of the senior lenders of the
Financing. Mission Energy New York, Inc., entered into a Construction Loan Note (approximately $94 million) in
favor of BNY to fund a portion of the project.
(d) Capitalization or total equity = ($40,785,925)
Net loss after taxes for 2001 = ($13,670,155)
(e) Other than with respect to the Edison Mission Energy indemnity and the Construction Loan Note as listed in
Item (c) above, there are no contracts between BNY and any system company.
39
4.EME02 COMMONWEALTH ATLANTIC L.P. [EWG]
(a) Commonwealth Atlantic Limited Partnership ("CALP"), 2837 South Military Highway, Chesapeake, VA 23323-0286
CALP is a 340 MW natural gas and distillate oil fired peaking power generation facility (the "Facility") selling
power to Virginia Power. The Facility went into operation on June 4, 1992.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy, through its
wholly owned subsidiary Hanover Energy Company owns Chickahominy River Energy Corp. which owns a 1% general
partnership interest and a 49% limited partnership interest in CALP, the exempt wholesale generator.
(c) Capital contributions were made by Edison Mission Energy through its subsidiary Chickahominy River Energy
Corp. in the amount of $14,020,000.
(d) Capitalization or total equity = $12,097,386
Net income after taxes for 2001 = $1,764,467
(e) There are no contracts between CALP and any system company.
4.EME03 GORDONSVILLE ENERGY, L.P. [EWG]
(a) Gordonsville Energy, L.P. ("GELP"), 115 Red Hill Road, Gordonsville, VA 22942
GELP is a gas-fired cogeneration facility with an anticipated net capacity during the winter months of 290
megawatts and 220 megawatts during the summer months. The electricity generated by the facility is sold to
Virginia Electric & Power Company under two 30-year Power Purchase Agreements. The steam generated by the
facility is sold to Rapidan Service Authority. This facility is located one mile southwest of Gordonsville,
Virginia, in Louisa County. GELP went into operation on June 1, 1994.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy, through its
wholly owned subsidiary Madison Energy Company ("Madison") owns a 49% limited partnership interest in GELP and,
through its wholly owned subsidiary Rapidan Energy Company ("Rapidan"), owns a 1% general partnership interest in
GELP, the exempt wholesale generator.
(c) Capital contributions were made by Edison Mission Energy through its subsidiaries Madison in the amount of
$25,237,450 and Rapidan in the amount of $515,050, providing a total amount of $25,752,500. As a condition to
receiving the extension of credit necessary to develop GELP, Madison, Rapidan and Jefferson Energy Company
("Jefferson"), a wholly owned subsidiary of Edison Mission Energy which sold its interest to Northern Hydro
Limited, entered into separate Equity Subscription Agreements with GELP with the condition that Edison Mission
Energy guarantee the obligations under such agreements by entering into an Equity Subscription Agreement Guaranty
for each of Madison, Rapidan and Jefferson in an amount not to exceed an aggregate of $55,250,000.
(d) Capitalization or total equity = $33,053,217
Net income after taxes for 2001 = $3,869,626
(e) Edison Mission Operation & Maintenance, Inc. ("EMOM") operates this facility. EMOM received $709,318 in
compensation as operator in 2001.
4.EME04 HARBOR COGENERATION COMPANY [EWG]
(a) Harbor Cogeneration Company ("Harbor"), 420 Henry Ford Avenue, Wilmington, CA 93210
40
Harbor, a California general partnership, was organized on March 12, 1987, and owns and operates an 80 MW
cogeneration facility located in the Wilmington Oil Field in California near the City of Long Beach.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
South Coast Energy Company, which owns 30% general partnership interests in Harbor, the exempt wholesale
generator.
(c) Capital contributions were made by Edison Mission Energy through its subsidiary South Coast Energy Company
in the amount of $3,577,468.
(d) Capitalization or total equity = $32,553,825
Net income after taxes for 2001 = $2,088,248
(e) Edison Mission Marketing & Trading Inc. ("EMMT"), a wholly owned subsidiary of Edison Mission Energy,
provides services to Harbor, including marketing, trading and selling of Energy (as defined in the Energy Sales
and Fuel Sales Agreement dated as of June 14, 1999, between Harbor Cogeneration Company and EMMT (the
"Agreement") and Ancillary Services (as defined in the Agreement) to third parties. As of December 31, 2001,
EMMT has received $0 in exchange for services provided to Harbor pursuant to the Agreement.
4.EME05 EME HOMER CITY GENERATION L.P. [EWG]
(a) EME Homer City Generation L.P. ("Homer City"), 1750 Power Plant Road, Homer City, PA 15748-8009
Homer City operates a 1,884 MW coal-fired generating station located in Indiana County, approximately 45 miles
northeast of Pittsburgh, Pennsylvania.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Edison Mission Holdings Co.; Edison Mission Holdings Co., through its wholly owned subsidiary Mission Energy
Westside, Inc., owns a 1% general partnership interest in Homer City and through its wholly owned subsidiary
Chestnut Ridge Energy Company, owns a 99% limited partnership interest in Homer City, the exempt wholesale
generator.
(c) Capital contributions were made by Edison Mission Energy through its subsidiary Edison Mission Holdings Co.
in the amount of $1,363,948,000.
Guarantees:
Pursuant to a Guaranty dated as of August 1, 1998 (the "EME Guaranty"), EME guaranteed all of the obligations
under the Asset Purchase Agreement pursuant to which it agreed to acquire Homer City. On March 18, 1999, Edison
Mission Holdings Co., a wholly owned subsidiary of EME ("EM Holdings"), closed a $1.1 billion financing and EME
closed a $700 million financing the proceeds of which, together with approximately $300 million of cash, were
used to finance the acquisition pursuant to the terms of the Asset Purchase Agreement. The EM Holdings financing
is structured on a limited recourse basis, in which the lenders look primarily to the cash revenues of Homer City
to repay the debt. In connection with the EM Holdings financing and the issuance of $830 million senior secured
bonds by EM Holdings in May 1999, EME entered into a Credit Support Guarantee under which EME agreed to guarantee
the payment and performance of the obligations of EM Holdings to the bond holders, banks and other secured
parties which financed the acquisition of Homer City in an aggregate amount not to exceed approximately $42
million. In addition, to satisfy the requirements under the EM Holdings financing to have a Debt Service Reserve
Requirement in an amount equal to six months' debt service projected to be due following the payment of a
distribution, EME entered into a Debt Service Reserve Guarantee in which EME agreed to guarantee the payment and
performance of the obligations of EM Holdings in the amount of approximately $35 million. As of April 2, 2001,
the Debt Service Reserve Guarantee by EME was replaced by a Letter of Credit in the amount of $35,350,600 for the
account of EM Holdings. As of March 18, 2001, EME provided a guarantee of EM Holdings' debt service obligations
in the amount of $9 million to the lenders involved in the bank financing (the "EM Holdings Guarantee").
41
On December 7, 2001, Homer City was sold to and leased back from eight special purpose vehicles. Under this
arrangement, the $830 million senior secured bonds were assumed by the eight special purpose vehicles. These
bonds will be serviced by a portion of the lease rental payments to be paid by Homer City L.P. to the new owners
of Homer City. In connection with the sale-leaseback, the Credit Support Guarantee, which was due to expire on
December 31, 2001, and the EM Holdings Guarantee, were terminated.
Pursuant to eight Special Tax Indemnity Agreements executed in connection with the sale-leaseback, each dated as
of December 7, 2001, with Homer City L.P. and General Electric Capital Corporation ("GECC"), EME agreed to
indemnify GECC against certain tax losses which might arise either (i) as a result of the existence of certain
provisions in the Operative Documents relating to the leveraged lease financing, or (ii) as a result of certain
actions by Homer City L.P. during the term of the lease.
(d) Capitalization or total equity = $698,755,000
Net income after taxes for 2001 = $74,418,000
(e) Edison Mission Energy Services, Inc. (formerly Edison Mission Energy Fuel Services, Inc.) provides services
to Homer City relating to arranging for the supply of fuel to the facility pursuant to the Fuel Services
Agreement (the "Agreement") between Edison Mission Energy Services, Inc. and Homer City. As of December 31,
2000, Edison Mission Energy Services, Inc. has received payment in the amount of $286,947 for services provided
pursuant to the Agreement.
Edison Mission Financial Marketing & Trading Co.("EMFM&T"), now Edison Mission Marketing & Trading, Inc. as
EMFM&T merged into Edison Mission Marketing & Trading, Inc. ("EMMT") on June 28, 2000, a wholly owned subsidiary
of Edison Mission Energy, has entered into an NOx Allowance Sales Agreement with Homer City, wherein EMMT is to
purchase from and/or sell to Homer City, NOx Allowances available to Homer City and as required for the use in
the operation and maintenance of the Homer City facility. As of December 31, 2000, Homer City paid $11,498,696
to EMMT for NOx Allowances.
EMMT, a wholly owned subsidiary of Edison Mission Energy entered into an Energy Sales Agreement with Homer City,
wherein EMMT shall purchase Energy from Homer City (defined as electric energy, expressed in megawatt hours or
capacity, of the character commonly known as three-phase, sixty hertz electric energy that is delivered at the
nominal voltage of the delivery point). As of December 31, 2001, Homer City paid $938,325 to EMMT for energy
provided pursuant to the Agreement.
4.EME06 MIDWEST GENERATION, LLC. [EWG]
(a) Midwest Generation, LLC ("Midwest"), One Financial Place, 440 South LaSalle Street, Suite 3410, Chicago, IL
60605
Midwest owns and/or leases and operates 9,539 MW of generating capacity ("Facilities") acquired from Commonwealth
Edison Company and sells electric energy at wholesale. Facilities consist of:
(a.1) Six coal-fired plants located in Illinois totaling 5,646 MW:
542 MW Crawford plant in Chicago
327 MW Fisk plant in Chicago
789 MW Waukegan plant in Waukegan
1358 MW Joliet plant in Joliet
1092 MW Will County plant in Lockport
1538 MW Powerton plant in Pekins
(a.2) 2,698 MW dual-fueled Collins Station in Morris, Illinois
(a.3) 71 dual-fueled peaking units, totaling 1,195 MW, located at the Crawford, Fisk, Waukegan, Calumet, Joliet,
Bloom, Electric Junction, Sabrooke, and Lombard Stations.
42
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Midwest Generation EME, LLC; Midwest Generation EME, LLC owns 100% of Edison Mission Midwest Holdings Co.
("Holdings") which owns 100% of Midwest, the exempt wholesale generator.
(c) Capital contributions were made by Edison Mission Energy through its subsidiary Holdings in the amount of
$2,500,000,100.
Guarantees:
On March 22, 1999, EME entered into an Asset Sale Agreement to acquire 100% of the fossil-fuel generating assets
of Commonwealth Edison Co. ("Com Ed") totaling 9,722 MW for a purchase price of $4,813,121,000. This agreement
was assigned to Midwest Generation, LLC, a wholly owned subsidiary of EME, on December 15, 1999, at the closing
of the transaction. Midwest Generation, LLC operates the plants, which are all located in Illinois. Pursuant to
the Asset Sale Agreement, EME agreed to unconditionally and irrevocably guarantee to ComEd and all of its
successors and assigns, the due and punctual performance by any assignee of all covenants, agreements, terms,
conditions, undertakings, indemnities and other obligations to be performed and observed by such assignee under
the related agreements, including the transition power purchase agreements.
Pursuant to the Agency Agreement, dated as of December 15, 1999, between Commonwealth Edison Company, Edison
----------------------------------------------------------------------------------------------
Mission Midwest Holdings Co. and Edison Mission Energy, relating to Coal Purchase Contract and Railcar Lease
-------------------------------------------------------------------------------------------------------------
Agreement, EME and its affiliates receive the benefits of and are responsible for the liabilities under the
---------
agreements listed below (the "Unassigned Agreements") to which Commonwealth Edison Company is a party.
Commonwealth Edison Company acts as EME's agent with respect to the Unassigned Agreements and EME is responsible
for 78% of Commonwealth Edison Company's costs in managing the Unassigned Agreements. The Unassigned Agreements
include:
(a) Amended and Restated Coal Purchase Contract between Commonwealth Edison Company and Decker Coal Company
dated January 1, 1993, as further amended by Amendment No. 1 in 1993; Amendment No. 2 on June 16, 1994;
Amendment No. 3 on May 1, 1995; Amendment No.4 on January 1, 1996; Amendment No. 5 on February 1, 1997;
Amendment No. 6 on January 1, 1997; and Amendment No. 7 on February 1, 1999.
(b) Railcar Lease Agreement dated July 15, 1993 between Commonwealth Edison Company and Society National
Bank and related documents.
Synthetic Lease
---------------
On June 10, 2000, Midwest Generation, LLC, ("Midwest Generation") completed an approximate $300 million synthetic
lease transaction of the "on-site" and "off-site" peaking units acquired from Commonwealth Edison Company in
December, 1999. Together, the on-site peakers and off-site peakers transferred by Midwest Generation consist of
70 combustion turbines and related equipment. The proceeds from the transaction ($300 million) were loaned by
Midwest Generation to EME, and in exchange EME issued Midwest Generation an intercompany note in the same
amount. Simultaneously, the `lessor trust' leased the peaking units to Midwest Generation, as Lessee, for an
approximate five-year term. EME, as guarantor, agreed to unconditionally guaranty Midwest Generation's
obligations under the Synthetic Lease except for Midwest Generation's environmental obligations.
Leveraged Lease
---------------
On August 24, 2000, Midwest Generation entered into a sale-leaseback transaction with respect to the Powerton and
Joliet power facilities to third party lessors for an aggregate purchase price of $1.367 billion. Under the
terms of the leases (33.75 years for Powerton and 30 years for Joliet), Midwest Generation will make semi-annual
lease payments on each January 2 and July 2, beginning January 2, 2001. Recourse to Midwest Generation under the
leases is limited to amounts which would otherwise be distributable to Edison Mission Midwest Holdings Co. EME
guaranteed the payments under a Guarantee dated August 24, 2000. If a lessor intends to sell its interest in the
Powerton or Joliet power facility, Midwest Generation has a
43
first right of refusal to acquire the interest at fair market value. The lessor debt of $1.147 billion was
obtained from the issuance by Midwest Generation of Pass-Through Certificates, Series A, with a term of
approximately nine years and a fixed interest rate of 8.30% and Pass-Through Certificates, Series B, with a term
of approximately sixteen years and a fixed interest rate of 8.56%.
Pursuant to four Tax Indemnity Agreements, each dated as of August 17, 2000, EME agreed to indemnify the lessors
against certain tax losses which might arise as a result of certain actions by Midwest during the term of the
lease.
(d) Capitalization or total equity = $2,469,137,000
Net income after taxes for 2001 = $13,485,000
(e)
Services Agreements
-------------------
Administrative services such as payroll, employee benefits programs and information technology, all performed by
Edison International or Edison Mission Energy, are shared among all affiliates of Edison International, and the
costs of these corporate support services are allocated to all affiliates, including Midwest. Costs are
allocated based on one of the following formulas: percentage of time worked, equity in investment and advances,
number of employees, or multi-factor, including operating revenues, operating expenses, total assets and number
of employees. In addition, Midwest sometimes directly requests services of Edison International or Edison
Mission Energy, and those services are performed for Midwest's benefit. Labor and expenses of these directly
requested services are specifically identified and billed at cost. Midwest made reimbursements for the costs of
these programs and other services, which amounted to $127.4 million for the year ended December 31, 2001.
Support Services Agreement
--------------------------
Midwest entered into an agreement with Midwest Generation EME, LLC to provide support services, including
construction and construction management, operations and maintenance management, technical services and training,
environmental, health and safety services, administrative and IT support, and other managerial and technical
services needed to operate and maintain electric power facilities. Under the terms of the agreement, Midwest
reimburses Midwest Generation EME, LLC for actual costs incurred by functional area in providing support
services, or in the case of specific tasks Midwest requests, the amount negotiated for the task. Actual costs
billable under this agreement for the year ended December 31, 2001, were $7.0 million.
Energy Purchase and Sales Agreement
-----------------------------------
Midwest entered into an agreement with EMMT for the purchase and sale of energy. Under the terms of the
agreement, EMMT pays Midwest for the actual price of energy contracted with third parties, less
$.02/megawatt-hour. The amount paid or payable to EMMT under this agreement for the year ended December 31,
2001, was $0.9 million.
Services Agreement (Natural Gas)
--------------------------------
Midwest entered into an agreement with EMMT to provide services related to purchasing, transportation and storage
of natural gas. Under the terms of the agreement, Midwest pays EMMT a service fee of $0.02 for each MMBtu of
natural gas delivered to Midwest, plus the actual cost of the gas. The amount billable under this agreement for
the year ended December 31, 2001, was $0.9 million.
44
Fuel Services Agreement
-----------------------
Midwest entered into an agreement with Edison Mission Energy Services, Inc. to provide fuel and transportation
services related to coal and fuel oil. Under the terms of the agreement, Midwest pays Edison Mission Energy
Services, Inc. a service fee of $0.06 for each ton of coal delivered to Midwest and $0.05 for each barrel of fuel
oil delivered to Midwest, plus the actual cost of the commodities. The amount billable under this agreement for
the year ended December 31, 2001, was $1.3 million.
4.EME07 NEVADA SUN-PEAK LIMITED PARTNERSHIP [EWG]
EDISON MISSION ENERGY SOLD ITS INTERESTS IN THIS EWG ON DECEMBER 5, 2001.
(a) Nevada Sun-Peak Limited Partnership ("Nevada Sun-Peak"), 200 South Virginia Street, Reno, NV 89501
Nevada Sun-Peak owns a three unit, natural gas and oil fired combustion turbine generation facility designed to
produce a net output of approximately 210 MW. The combustion turbines (General Electric PG 7111-EA-CTGs) are
capable of operating on either natural gas or No. 2 distillate fuel oil. The transmission facilities associated
with the plant are owned by Nevada Power Company. The facility is located near Las Vegas, Nevada. Commercial
operation began on June 8, 1991.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Quartz Peak Energy Company, which owns 50% of Nevada Sun-Peak, the exempt wholesale generator.
(c) Capital contributions were made by Edison Mission Energy through its subsidiary Quartz Peak Energy Company
in the amount of $8,125,500.
(d) Capitalization or total equity = $0
Net income after taxes for 2001 = $1,264,271
(e) There are no contracts between Nevada Sun-Peak and any system company.
4.EME08 ECOELECTRICA LP [FUCO]
(a) EcoElectrica L.P. ("EcoElectric"), a Bermuda limited partnership ("EcoElectrica") Plaza Scotiabank, Suite
902, Avenida Ponce de Leon 273, Hato Rey, Puerto Rico 00918
EcoElectrica owns and operates a liquefied natural gas marine unloading facility, two 1,000,000-barrel LNG
storage tanks, LNG vaporization equipment, an approximately 461 MW cogeneration power plant facility with two
natural gas turbines and one steam turbine, and a desalination plant, located in Penuelas, Puerto Rico.
EcoElectrica also owns and operates: a 2.3 mile, 230 kV transmission line connecting the power plant substation
to an existing Puerto Rico Electric Power Authority ("PREPA") substation, a 1.2 mile, 24 inch diameter natural
gas accumulator pipeline, a 3.5 mile, 10 inch diameter pipeline to supply liquefied petroleum gas ("LPG") to the
facility, and a 1.1 mile, 6 to 8 inch diameter pipeline connecting the natural gas accumulator and PREPA's Costa
Sur Power Plant. EcoElectrica became operational in March 2000.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of EcoElectrica S.a.r.l; EcoElectrica S.a.r.l. owns 100% of EME del Caribe Holding GmbH; EME del
Caribe Holding GmbH owns 100% of EME del Caribe; EME del Caribe owns 50% of EcoElectrica Holdings, Ltd.;
EcoElectrica Holdings, Ltd. owns 100% of EcoElectrica Ltd. and 99%LP of EcoElectrica; EcoElectrica Ltd. owns 1%GP
of EcoElectrica, the foreign utility company.
45
(c) Capital contributions were made by Edison Mission Energy through its subsidiary EcoElectrica S.a.r.l. in the
amount of $256,376,254.
The following is a listing of the various obligations of Edison Mission Energy with respect to EcoElectrica:
EcoElectrica entered into an Option to Purchase Agreement with Union Carbide Caribe Inc. ("UCCI") under which
EcoElectrica agreed to indemnify UCCI with respect to certain post-closing activities (property damage or
personal injury) and environmental contamination on the plant site. This indemnity obligation was guaranteed by
Enron Power Corp. and Kenetech Energy Systems Inc., ("KES") pursuant to a Guaranty dated November 25, 1997 (the
"UCCI Guaranty").
Edison Mission Energy was required to execute a Guarantee Assumption Agreement under which Edison Mission Energy
agreed to assume all of the obligations of KES under the UCCI Guaranty.
(d) Capitalization or total equity = $30,241,500
Net income after taxes for 2001 = $13,285,216
(e) Assignment and Assumption Agreement: On October 31, 1997, KES Bermuda, Inc. and EcoElectrica entered into
that certain Administrative Services Agreement pursuant to which KES Bermuda, Inc. receives a fee, plus expense
reimbursement in return for providing advisory services to EcoElectrica. As of December 23, 1998, KES Bermuda,
Inc. assigned its rights, title and interests under said agreement to EME del Caribe. As of December 31, 2001,
EME del Caribe has received $2,374,856 for providing services to EcoElectrica.
4.EME09 CONTACT ENERGY LIMITED [FUCO]
(a) Contact Energy Limited ("Contact"), Level 1, Harbour City Tower, 29 Brandon Street, Box 10-742, Wellington,
New Zealand
In March 1999, Edison Mission Energy Taupo Ltd.("EME Taupo"), an indirect, wholly owned subsidiary of Edison
Mission Energy entered into agreements with the government of New Zealand to acquire 40% of Contact. Contact
owns and operates hydroelectric, geothermal and natural gas-fired power generating plants in New Zealand with a
total generating capacity of 2,449 MW. Contact also supplies gas and electricity to customers in New Zealand and
has a minority interest in a power project in Australia. The acquisition was conditioned on the New Zealand
government completing an initial public offering of the remaining 60% of Contact, which occurred in mid-May 1999.
In December 2000, EME Taupo transferred its 40% interest in Contact to EME Pacific Holdings ("Pacific"), an
indirect, wholly owned subsidiary of Edison Mission Energy as part of a global restructuring of Edison Mission
Energy's investment in Contact (the "Transfer"). In connection with the Transfer, Edison Mission Energy entered
into a further Deed of Covenant in favor of the institutional subscriber of $160 million of the preferred stock
issued by EME Taupo in May 1999. This further Deed of Covenant requires Edison Mission Energy to compensate the
institutional preferred stock subscriber in the event that a private binding ruling issued to it by the New
Zealand Inland Revenue Department ceases to apply as a direct result of the Transfer. The amount of any
compensation that may become payable by Edison Mission Energy under the further Deed of Covenant is limited to
that necessary to keep the preferred stock subscriber in the same position that it would have been in had the
private binding ruling continued to apply. Also in December 2000, Edison Mission Energy's ownership increased a
total of 2.26% due to (i) Contact's buyback of shares from the open market and (ii) an additional purchase of
shares by Pacific.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of EME Atlantic Holdings Limited, which owns 100% of EME Ascot Limited, which owns 100% of EME
Buckingham
46
Limited, which owns 100% of EME Precision B.V., which owns 100% of Mission Energy Universal Holdings [formerly
EME Universal Holdings], which now owns 0.624% of Contact and 100% of Mission Energy Pacific Holdings [formerly
EME Pacific Holdings], which now owns 50.598% of Contact, the foreign utility company. EME, through its
subsidiaries, now owns 51.2% of Contact (excluding the shares held by Contact as treasury stock).
(c) Capital contributions were made by Edison Mission Energy through its subsidiary Edison Mission Project
Company, in the amount of $466,966,613.
In December 2000, EME Taupo transferred its 40% interest in Contact to EME Pacific Holdings, an indirect,
wholly-owned subsidiary of Edison Mission Energy as part of a global restructuring of Edison Mission Energy's
investment in Contact (the "Transfer"). In connection with the Transfer, Edison Mission Energy entered into a
further Deed of Covenant in favor of the institutional subscriber of $160 million of the preferred stock issued
by EME Taupo in May 1999. This further Deed of Covenant requires Edison Mission Energy to compensate the
institutional preferred stock subscriber in the event that a private binding ruling issued to it by the New
Zealand Inland Revenue Department ceases to apply as a direct result of the Transfer. The amount of any
compensation that may become payable by Edison Mission Energy under the further Deed of Covenant is limited to
that necessary to keep the preferred stock subscriber in the same position that it would have been in had the
private binding ruling continued to apply. Also in December 2000, Edison Mission Energy's ownership increased a
total of 2.26% due to (i) Contact's buyback of shares from the open market and (ii) an additional purchase of
shares by Pacific.
The preferred stock was redeemed on July 2, 2001. There are no further obligations under the Deeds of Covenant
except to the extent that they relate to dividends already paid. EME continues to be liable for the low risk of
any change in taxation treatment of imputation credits attached to dividends already paid.
As noted above, the preferred stock has been redeemed and no further dividends are to be paid with respect to the
preferred stock. The Deed of Covenant continues for the benefit of the institutional subscriber protecting it
against the possibility that the binding ruling ceases to apply in respect of dividends already paid. EME has
obtained a legal opinion that confirms the "low risk" of any change to this taxation treatment.
The acquisition of further shares by Pacific and the funding required for the redemption of the EME Taupo
preferred stock was obtained through a refinancing with CSFB and other financial institutions and through a new
issue of preferred stock by Pacific. Pacific borrowed the US$ equivalent of N.Z.$135,000,000 to settle the
purchase of approximately 7.64% of Contact shares (excluding the shares held by Contact as treasury stock). This
borrowing was repaid with the proceeds of preferred stock issued to the public in New Zealand by a sister company
to Pacific, Mission Contact Finance Limited.
The redemption of the NZ$400 million preferred stock was funded by the issue of preferred stock through Mission
Contact Finance Limited and also by borrowings from CSFB for the US dollar equivalent of NZ$386,523,000.
EME has no obligations to any of the lenders or any other third parties in respect of these financing
arrangements.
(d) Capitalization or total equity = $343,500,683
Net income after taxes for 2001 = $20,031,750
(e) There are no service, sales or construction agreements between Contact and any system company.
4.EME10 PERTH POWER PARTNERSHIP [FUCO] - SUCCESSOR OF INTEREST TO KWINANA POWER PARTNERSHIP ("KPP")
(a) Perth Power Partnership ("PPP") (formerly Kwinana Power Partnership), James Court, Kwinana Beach 6167,
Western Australia.
47
PPP's facilities used for the generation, transmission, or distribution of electric energy for sale consist of a
116 MW gas-fired combined cycle cogeneration plant at the oil refinery owned and operated by British Petroleum
Refinery Proprietary Limited at Kwinana near Perth, Australia, and interconnection equipment necessary to connect
the plant with the refinery and with PPP's wholesale purchaser, Western Power Corporation. KPP commenced
operation in December 1996. On August 11, 2000, KPP sold 30% of the facilities and obligations related to the
facilities to SembCorp Energy (Kwinana) Pte Ltd. (SembCorp). KPP and SembCorp simultaneously formed PPP, a
partnership to directly own the facilities. SembCorp owns a 30% partnership interest in PPP, and KPP owns a 70%
partnership interest. The partners of KPP continue to be MEC Perth B.V. (99%) and Mission Energy (Kwinana) Pty
Ltd. (1%).
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI directly owns 99% of MEC Perth B.V. and through its wholly owned subsidiary MEC International Holdings B.V.
indirectly owns the remaining 1% of MEC Perth B.V.; MEC Perth B.V. owns 99% of KPP, which owns 70% of PPP, the
foreign utility company. MECI also directly owns 100% of Loy Yang Holdings Pty Ltd, which owns 100% of Edison
Mission Energy Holdings Pty Ltd, which owns 100% of Mission Energy (Kwinana) Pty Ltd, which owns the remaining 1%
of KPP, which owns 70% of PPP, the foreign utility company.
(c) The only outstanding guarantee by Edison Mission Energy or a subsidiary in relation to PPP is the Guarantee
and Indemnity dated March 21, 1995, between KPP and Edison Mission Operation & Maintenance, Inc. ("MOMI
Guarantee") (assigned to PPP on August 11, 2000). The MOMI Guarantee is given to Edison Mission Operation &
Maintenance, Inc. to guarantee the operations of Edison Mission Operations (Kwinana) Pty Ltd under the Kwinana
Operation and Maintenance Agreement dated March 21, 1995.
(d) Capitalization or total equity = $20,138,855
Net income after taxes for 2001 = $4,514,239
(e) The Administrative Support Agreement dated March 21, 1995, between Edison Mission Energy Holdings Pty Ltd
and KPP (assigned to PPP pursuant to Assumption Deed dated August 8, 2000). Under the Administrative Support
Agreement, Edison Mission Energy Holdings Pty Ltd agrees to provide personnel and administrative support, (e.g.,
accounting, banking and tax, business promotion) to KPP to assist KPP in fulfilling its obligations under the
Syndicated Project Facility Agreement dated March 21, 1995.
The Operation and Maintenance Agreement ("OMA") between Mission Operations (Kwinana) Pty Limited and KPP dated
March 21, 1995 (amended and restated pursuant to Deed of Amendment and Restatement dated August 7, 2000, and
assigned to PPP on August 11, 2000.) The OMA appoints an indirect, wholly owned subsidiary of MECI, Edison
Mission Operation & Maintenance Kwinana Pty Ltd ("EMOK") to operate and maintain the Kwinana cogeneration plant
and equipment. EMOK received $310,248 in compensation as operator in 2001.
Under the Professional and Administrative Services Agreement ("PASA") between EMOK and Edison Mission Energy
Holdings Pty Ltd. ("EMEH") dated March 17, 1995, EMEH agrees to provide professional and administrative services
(e.g., accounting, banking and tax, business promotion) and staff to EMOK to assist EMOK in fulfilling its
obligations under the OMA. EMEH received $0 in compensation under the PASA in 2001.
Under the Technical Support Agreement ("TSA") between Edison Mission Operation and Maintenance, Inc ("EMOMI") and
Edison Mission Operation & Maintenance Pty Ltd dated March 17, 1995, EMOMI provides technical support, (i.e.,
personnel and knowledge) to EMOK to enable EMOK to comply with its obligations under the OMA. EMOMI received $0
in compensation under the TSA in 2001.
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4.EME11 LOY YANG B JOINT VENTURE [FUCO]
(a) Loy Yang B Joint Venture ("LYBJV"), Bartons Lane, Loy Yang, Victoria, Australia 3844
LYBJV owns two coal-fired generating units with generator nameplate ratings of 500,000 kW each, located in the
Latrobe Valley in the State of Victoria, Australia (the "Project"). Unit 1 began commercial operation on
September 30, 1993, and Unit 2 began commercial operation on September 30, 1996.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI, through wholly owned subsidiaries of Edison Mission Energy, collectively owns 100% of the interests in Loy
Yang B Joint Venture, the foreign utility company, as explained below.
The system-owned venturer is Latrobe Power Partnership ("LPP"), which owns a 51% interest. LPP is 1% owned by
Edison Mission Energy Australia Ltd. (the managing general partner) and 99% owned by Mission Victoria Partnership
(a general partner).
Edison Mission Energy Australia Ltd. is wholly owned by Edison Mission Energy Holdings Pty Ltd, which is wholly
owned by Loy Yang Holdings Pty Ltd, which is a wholly owned subsidiary of MEC International B.V.
Mission Victoria Partnership is 52.31% owned by Latrobe Power Pty Ltd (general partner), 46.69% owned by
Traralgon Power Pty Ltd (general partner), and 1% owned by Mission Energy Ventures Australia Pty Ltd (managing
general partner). Latrobe Power Pty Ltd and Traralgon Power Pty Ltd are both owned 99% by MEC International B.V.
and 1% by Loy Yang Holdings Pty Ltd. Mission Energy Ventures Australia Pty Ltd is wholly owned by Loy Yang
Holdings Pty Ltd, which is owned as described above. Gippsland Power Pty Ltd. owns the remaining 49% in LYBJV.
Gippsland is 100% owned by Mission Energy Development Australia Pty Ltd., which is 100% owned by EME Victoria
Generation Ltd., which is 100% owned by EME Generation Holdings Ltd., which is 100% owned by Mission Hydro
Limited Partnership, which is 69% owned by MEC Wales BV, 30% owned by Mission Energy Wales Company and 1% owned
by Mission Hydro (UK) Limited. All three partners to Mission Hydro Limited Partnership are 100% directly or
indirectly owned by Edison Mission Energy.
(c) In May 1997, Edison Mission Energy, through its indirect and direct subsidiaries, closed financing (the
"Financing") for the purchase of the remaining 49% of LYBJV. The Financing was structured on a non-recourse
basis.
Advance Opinion Undertaking - In the Advance Opinion Undertaking, EME is obligated to Chase Securities (as
---------------------------
Security Agent under the Project Facility) to cause to make available to the Project funds in an amount
sufficient to pay income or capital gains taxes on assessments under the Australian income tax laws which
materially and adversely affect (a) the Project, (b) the operating cash flow of the Project or (c) the ability to
meet obligations to pay interest or repay principal or other amounts under the Project Facility (which result
from an assessment which directly conflicts with certain tax assumptions expressed in the Advance Opinion from
the Australian Tax Office).
LPP's and Gippsland's capital contribution = $78,412,225
(d) LPP's and Gippsland's Equity = $77,744,929
LPP's and Gippsland's Net Income after taxes for 2001 = $11,676,764
(e) An indirect, wholly owned subsidiary of MEC International B.V., Edison Mission Operation & Maintenance Loy
Yang Pty Ltd. operates the generating plant pursuant to an amended operating and maintenance contract. The
intermediate holding company of Edison Mission Operation & Maintenance Loy Yang Pty Ltd. is Edison Mission Energy
Holdings Pty Ltd. As operator, Edison Mission Operation &
49
Maintenance Loy Yang Pty Ltd. performs the following services: management and supervision of the construction
commissioning, testing, operation and maintenance of the Loy Yang B power station on behalf of the joint venture
participants.
4.EME12 PT. PAITON ENERGY [FUCO]
(a) PT. Paiton Energy ("Paiton"), Jl. Raya Surabaya Situbondo KM 141, Paiton 67291, Probolinggo, East Java,
Indonesia
Paiton's facilities consist of two coal-fired electric generating units in Paiton, Indonesia, on the northeast
Java coast, both of which achieved commercial operation during 1999. Each unit has a nominal net design capacity
of 605 MW and is comprised of a boiler and steam turbine generator with ancillary facilities. The two units
share a control room.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI directly owns 99% of MEC Indonesia B.V. and through its wholly owned subsidiary MEC International Holdings
B.V. indirectly owns the remaining 1% of MEC Indonesia B.V.; MEC Indonesia B.V. owns 40% of PT. Paiton Energy,
the foreign utility company.
(c) Capital contribution made by Edison Mission Energy through its subsidiary MEC Indonesia B.V. was in the
amount of $125,694,200. Edison Mission Energy and its wholly owned affiliates, MEC Indonesia B.V., MEC
International B.V., and MEC International Holdings B.V. ("Mission Affiliates") have undertaken the following
obligations:
The project is financed by multiple credit facilities (the "Credit Facilities"), of varying terms and tenor,
provided by the Export-Import Bank of the United States, the Japan Bank for International Cooperation, Overseas
Private Investment Corporation and commercial banks. The project also contains financing indirectly provided by
the proceeds of $180,000,000 of bonds issued in reliance upon Rule 144A.
The following is a listing of the various obligations of EME with respect to the Paiton Project:
Guarantees Related to Equity Infusion. EME and its wholly-owned affiliates (MEC International, B.V.,
--------------------------------------
MEC International Holdings, B.V. and MEC Indonesia (the "Mission Affiliates")) have undertaken the following
obligations:
Equity Support Guarantee. EME and the Mission Affiliates have guaranteed payment of 47.06% of PE's
-------------------------
obligations to contribute base equity, overrun equity and contingent overrun equity to the Paiton
Project. EME and the Mission Affiliates' obligations are $320,008,000 for base equity (as of
December 31, 1999 these obligations had been fully funded), $82,355,000 for overrun equity (as of
September 30, 2000, this amount had been fully funded), and $58,825,000 for contingent overrun equity
(as of December 31, 2001, $5,283,667.58 remains outstanding). The total EME/Mission Affiliates'
commitment is $461,188,000. On February 2, 2001, the outstanding amount for contingent overrun equity
was reduced by an equity contribution made by EME in the amount of $22,907,876. This contribution arose
as a result of Edison International's credit downgrade and discharged EME's guarantee of an initial
38.24% of PE's equity obligations pursuant to EME's Equity Support Agreement.
(a) Overrun Equity. Overrun Equity in the amount of $82,355,000 (EME/Mission Affiliates' portion)
---------------
is for costs incurred by the Paiton Project that were not included in the project budget and
not otherwise covered by third parties such as insurers or the construction contractor.
50
(b) Contingent Overrun Equity. Contingent Overrun Equity in the amount of $58,825,000 (EME/Mission
--------------------------
Affiliates' portion) will be utilized on the same basis as Overrun Equity once the Overrun
Equity has been fully utilized.
(c) BHP Loans. EME has agreed to lend 47.06% of the equity amount required to be contributed by
----------
P.T. Batu Hitam Perkasa, an Indonesian limited liability company, and 15% shareholder in PE
(the "BHP Loans"). The BHP Loans are to be repaid out of PE dividends, carry an interest rate
of Libor plus 2.25%, a term of 20 years. The BHP Loan obligation is included in EME's Equity
Support Agreement commitment and accounts for $21,459,360 of that obligation. This obligation
has been fully funded.
(d) Capitalization or total equity = $96,532,808
Net loss after taxes for 2001 = ($26,745,676)
(e) Edison Mission Energy Asia Pte Ltd., a wholly owned subsidiary of MEC International B.V., has entered into
an Operation and Maintenance Agreement with Paiton to provide operation and maintenance services. The services
under the Operation and Maintenance Agreement have been assumed by P.T. Edison Mission Operation & Maintenance
Indonesia ("PTEMO&M"), another indirect subsidiary of Edison Mission Energy. PTEMO&M has received $5,637,831 in
fees from Paiton in 2001.
4.EME13 TRI ENERGY COMPANY LIMITED [FUCO]
(a) Tri Energy Company Limited ("Tri Energy"), 16th Floor, Grand Amarin Tower, New Petchburi Road, Ratchathewi,
Bangkok 10320 Thailand
Tri Energy's facilities consist of a 700 MW gas turbine combined cycle facility located in Ratchaburi Province,
west of Bangkok, Thailand, and interconnection equipment necessary to connect the facility with the company's
wholesale purchaser, the Electricity Generating Authority of Thailand. Tri Energy became operational on June 30,
2000.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of EME Tri Gen B.V., which owns 25% of Tri Energy Company Limited, the foreign utility company.
(c) Capital contributions were made by Edison Mission Energy through its subsidiary EME Tri Gen B.V. in the
amount of $23,289,420.
(d) Capitalization or total equity = $17,720,353
Net income after taxes for 2001 = $1,571,000
(e) Edison Mission Energy Asia Pacific Pte Ltd. ("EME Asia") and Tri Energy have entered into an Onshore Service
Agreement and an Offshore Service Agreement. Under the Onshore Service agreement, EME Asia is to provide
managerial, professional and technical services within Thailand to Tri Energy for a fixed annual fee of 6,000,000
Baht [US Dollars]. Under the Offshore Service agreement, EME Asia is to provide managerial, professional and
technical services outside of Thailand on an hourly fee basis. As of December 31, 2001, EME Asia has received
payment of $0.
4.EME14 DERWENT COGENERATION LIMITED [FUCO]
(a) Derwent Cogeneration Limited ("Derwent"), Lansdowne House, Berkeley Square, London W1X 5DH England
51
The 214 MW plant at Spondon, Derbyshire, England, went into operation in 1995.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of Mission Energy Company (UK) Limited which owns 33% of Derwent, the foreign utility company.
(c) Total capital contribution = $2,468,719
(d) Capitalization or total equity = $1,766,582
Net income after taxes for 2001 = $2,013,435
(e) Mission Energy Services Limited ("MESL") provided construction management services to Derwent throughout the
construction phase of the project and is now the operator of the facility. MESL is to receive a fee of
$3,266,808 per year for operation and maintenance services as well as reimbursement from Derwent for expenditures
incurred for operation and maintenance services. MESL received $2,946,617 in fees in 2001.
4.EME15 FIRST HYDRO COMPANY [FUCO]
(a) First Hydro Company ("FHC"), Bala House, St. David's Park, Ewloe, Clwyd, Wales CH5 3XJ
The principal assets of FHC are two pumped storage stations located in North Wales at Dinorwig and Ffestiniog
which have a combined registered capacity of 2,088 MW. These facilities were built to provide additional
generation for meeting peak demand throughout the day and to provide rapid generation response to sudden changes
in electricity demands.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy, which through its subsidiaries (i)
wholly owned Mission Energy Wales Company, owns 30%LP of Mission Hydro Limited Partnership, which in turn owns
100% of EME Generation Holdings, Ltd., which in turn owns 99% of First Hydro Holdings Company, which owns 100% of
First Hydro Finance plc, which owns 1% of FHC; (ii) wholly owned Mission Energy Holdings International, Inc.
directly owns 99.97% (100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of
MECI through its wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B
shares of MECI, and EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI;
Edison Mission Energy owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison
Mission Project Co.; MECI owns 100% of Mission Energy Company (UK) Limited, which owns 100% of Mission Hydro (UK)
Limited, which in turn directly owns 1% of First Hydro Holdings Company and indirectly owns the remaining 99% of
First Hydro Holdings Company through its 1%GP interest in Mission Hydro Limited Partnership, First Hydro Holdings
Company owns 100% of First Hydro Finance plc, which in turn owns 1% of FHC; and (iii) the wholly owned subsidiary
Mission Energy Holdings International, Inc. owns 99.97% of MEC International B.V. (see above for remaining
0.03%), which directly owns 99% of MEC Wales B.V. and through its wholly owned subsidiary MEC International
Holdings B.V. indirectly owns the remaining 1% of MEC Wales B.V., MEC Wales B.V. owns 69%LP of Mission Hydro
Limited Partnership, which in turn owns 100% of EME Generation Holdings, Ltd., which owns 99% of First Hydro
Holdings Company, which owns 100% of First Hydro Finance plc, which owns 100% of FHC the foreign utility company.
(c) First Hydro Finance plc ("FHF"), an indirect subsidiary of Edison Mission Energy, purchased all of the
outstanding shares of FHC for $1.0 billion plus $45.7 million as consideration for the working capital of FHC at
the date of acquisition. This acquisition was funded through a combination of (i) a $621.4 million credit
facility with Barclays Bank Plc, (ii) a $350 million capital contribution from Edison International, and (iii)
52
$50.4 from Edison Mission Energy's working capital. FHF obtained the financing for First Hydro Holdings Company,
a wholly owned indirect subsidiary of Edison Mission Energy. To support the financing for FHF, Edison Mission
Energy has issued a letter of credit from its $400 million corporate revolving credit.
Revenue Support Letter of Credit - The Letter of Credit was issued by Bank of America in the amount of 12 million
pounds sterling (U.S. $19.4 million) in favor of FHF and assigned to Prudential Trustee Company Limited as
security trustee. The Revenue Support Letter of Credit must be opened for the initial five years of financing
with a bank having a short-term rating of at least A-1/P-1. The Revenue Support Letter of Credit may be drawn
down to make up any shortfalls in interest payments owing and to cure any default arising from interest coverage
ratios dropping below 1.05 to 1.0 for the applicable reference periods. The Revenue Support Letter of Credit
Obligation expires in December 2001.
(d) Capitalization or total equity = $202,843,456
Net income after taxes for 2001 = $40,855,033
(e) There are no contracts between FHC and any system company.
4.EME16 EDISON FIRST POWER LIMITED [FUCO]
EDISON MISSION ENERGY SOLD ITS INTERESTS IN THIS FUCO ON DECEMBER 21, 2001.
(a) Edison First Power Limited ("EFPL"), Lansdowne House, Berkeley Square, London W1X 5DH England
EFPL acquired Ferrybridge, a coal-fired electric generating plant with a generating capacity of approximately
2,000 MW located in West Yorkshire and Fiddler's Ferry, a coal fired electric generating plant with a generating
capacity of approximately 2,000 MW located in Warrington.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100 of
Mission Energy Holdings International Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of Global Generation B.V., which owns 100% of Edison First Power Holdings I, which owns 100%
Maplekey Holdings Limited, which owns 100% of Maplekey UK Finance Limited, which owns 100% of Maplekey UK
Limited, which owns 100% of EFPL, the foreign utility company.
(c) Capital contributions were made by Edison Mission Energy through its subsidiary Global Generation, B.V., in
the amount of $1,046,456,340.
Guarantees:
On April 30, 1999, EFPL executed two Sale and Lease Agreements with PowerGen UK plc, an English corporation
("PowerGen") for the acquisition of each of Ferrybridge and Fiddler's Ferry. The acquisition and financing of
Ferrybridge and Fiddler's Ferry were completed on July 19, 1999, for approximately $2 billion.
The following is a listing of the various obligations undertaken by Edison Mission Energy with respect to the
acquisition and financing of Ferrybridge and Fiddler's Ferry:
(c.1) Purchase Price Adjustment Guarantee - Edison Mission Energy has guaranteed to PowerGen the payment of
$16,879,000 for each of Ferrybridge and Fiddler's Ferry as an adjustment to the purchase price in the event that
the Environmental Authority of Her Majesty's Government in the United Kingdom (the "Environmental Authority")
allows for an increase in emissions from Ferrybridge and Fiddler's Ferry. The Environmental Authority issued its
determination regarding emissions in January 2000. As a result there is no upward adjustment to the purchase
price, this obligation will cease and EME will have no further obligation hereunder.
53
(c.2) Coal and Capex Facility Guarantee - Edison Mission Energy has guaranteed to Barclays Bank PLC the
obligations of EME Finance UK Limited ("EME Finance"), an indirect wholly-owned subsidiary of Edison Mission
Energy, under that certain Coal and Capex Facility Agreement (the "Facility Agreement") dated as of July 19,
1999, and entered into in connection with the financing of Ferrybridge and Fiddler's Ferry, pursuant to which
Barclays Bank PLC issued at the request of EME Finance two letters of credit:
(c.3.1) Capex Letter of Credit - A five-year letter of credit in the amount of $142,038,217 was posted to meet
the obligations of EFPL in relation to capital costs associated with construction costs arising from proposed
modifications to Ferrybridge and Fiddler's Ferry and may be drawn upon where funds in the revenue account of EFPL
are insufficient to pay such costs; and
(c.3.2) Coal Letter of Credit - A fifty-four (54) month letter of credit in the amount of $86,764,331 was posted
to meet the obligations of EFPL under certain coal supply agreements and may be drawn upon to fund amounts which
become due and payable from time to time under such agreements.
(c.4) Debt Service Reserve Letter of Credit - Edison Mission Energy caused to be posted by Bank of America a
Letter of Credit denominated in Pounds Sterling equal to $85,395,600 under Edison Mission Energy's corporate
revolving line of credit with Bank of America, to serve as a debt service reserve account which may be drawn upon
by the trustee for the bondholders in the event EFPL fails to make debt service payments under the Guaranteed
Secured Variable Rate Bonds due 2019 (the "Bonds"). The Bonds are non-recourse to Edison Mission Energy.
(d) Capitalization or total equity = $1,046,456,340
Net loss after taxes for 2001 = ($1,242,284,824)
(e) EFPL and Edison Mission Marketing and Services Limited ("EMMS") have entered into an Agency Agreement
wherein EMMS shall provide Agency Services (as defined in Schedule 1 to the Agency Agreement) to EFPL. As of
December 31, 2001, EMMS has charged EFPL $5,963,593 for services provided to EFPL under the Agency Agreement.
EFPL and EMMS have entered into a Services Agreement wherein EMMS provides certain office functions and
management expertise (as outlined in Schedule 1 of the Services Agreement) to EFPL. As of December 31, 2001,
EMMS has charged EFPL $1,902,251 for services provided to EFPL under the Services Agreement.
4.EME17 IBERICA DE ENERGIAS, S.A. [FUCO]
(a) Iberica de Energias, S.A. ("Iberica"), Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
Iberica's facilities consist of the following fifteen mini-hydroelectric facilities which are capable of
producing a total of 48.55 MW:
Quintana: 1.48MW facility in Herrera de Valdecana, Palencia
La Flecha: 2.66MW facility in Arroyo Encomienda, Valladolid
Toro: 4.50MW facility in Toro, Zamora
Tudela: 1.48MW facility in Tudela de Duero, Valladolid
Sardon Bajo: 1.60MW facility in Villabanez, Valladolid
Bocos: 1.60MW facility in Bocos de Duero, Valladolid
Monasterio: 1.60MW facility in Quintanilla de Arriba, Valladolid
Logrono: 3.68MW facility in Logrono, La Rioja
Mendavia: 5.60MW facility in Mendavia, Navarra
La Ribera: 4.40MW facility in Pradejon, La Rioja
Gelsa: 7.20MW facility in Gelsa, Zaragoza
Alos: 4.80MW facility in Alos de Balaguer, Lerida
Castellas: 2.25MW facility in Valls de Aguilar, Lerida
Sossis: 3.3MW facility in Pyrenees (Lerida)
Olvera: 2.4MW facility in south of Spain (Jaen)
54
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 10% of Hydro Energy B.V. and indirectly through its wholly owned subsidiary Iberian Hy-Power Amsterdam
B.V. owns the remaining 90% of Hydro Energy B.V.; Hydro Energy B.V. owns 96.65% of Iberica de Energias, the
foreign utility company, and Iberian Hy-Power Amsterdam B.V. owns the remaining 3.35%.
(c) The capital contribution made by Edison Mission Energy through its subsidiary Iberian Hy-Power Amsterdam
B.V. was $21,992,654. In August, 1993, MECI, through its 34% ownership interest and its direct ownership
interest in Hydro Energy B.V., acquired an aggregate 40.6% interest in Energias Hidraulicas, S.A. ("EH") from
Energies, S.A., the hydroelectric development subsidiary of Vivendi (formerly Compagne Generale des Eaux).
Subsequently, EH sold Iberica and Mediterranea to Hydro Energy B.V. Compagne Generale des Eaux is a French water
utility company. EH is a Spanish holding company which will develop water right concessions, but has no
operating facilities. During 1996, the five facilities previously owned by Compania Mediterranea de Energias,
S.A., were merged into Iberica. Also in 1996, Energias Hidraulicas' name was changed to Edison Mission Energy
Espana, S.A. During 1997, EH, Hidroelectrica de Sossis S.A. and Hidroelectrica de Olvera S.A. were merged into
Iberica.
In connection with the acquisition of EH, Vivendi provided to Iberica and Mediterranea a 10-year limited revenue
guaranty, which allowed Iberica and Mediterranea to secure non-recourse project financing. Consideration to
Vivendi for the acquisition of Iberica and Mediterranea included the assumption by Hydro Energy B.V. of an
existing loan with deferred payments to Vivendi beginning in 1999 and ending in 2003. Edison Mission Energy has
provided a guarantee for any such deferred payments which are outstanding as of September 30, 2003 (six months
after the due date for all such deferred payments). The guarantee by Edison Mission Energy provides for no
rights of acceleration by Vivendi under any circumstances. At December 31, 2000, the present value of the
deferred payments will amount to $24.8 million ($30.3 million face value discounted at 11.5%).
(d) Capitalization or total equity = $34,261,679
Net income after taxes for 2001 = $3,712,398
(e) There is a management fee agreement between Iberica and Electro Metalurgica del Ebro S.L. (EMESA). Iberica
provides administrative and financial services to EMESA. As of December 31 2001, EMESA has paid Iberica $437,724
for services rendered under this management fee arrangement.
4.EME18 ELECTROMETALURGICA DEL EBRO, S.A. [FUCO]
(a) Electrometalurgica del Ebro, S.A. ("EMESA"), Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
EMESA's facilities consist of three mini-hydroelectric facilities (Sastago I, Sastago II and Menza) all located
near the Ebro River in Zaragoza. The three mini-facilities are masonry weir, concrete intake structures capable
of producing 3 MW, 17.3 MW and 13 MW, respectively.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 10% of Hydro Energy B.V. and indirectly through its wholly owned subsidiary Iberian Hy-Power Amsterdam
B.V. owns the remaining 90% of Hydro Energy B.V.; Hydro Energy B.V. owns 96.65% of Iberica de Energias and
Iberian Hy-Power Amsterdam B.V. owns the remaining 3.35%; Iberica de Energias owns 91.32% of EMESA, the foreign
utility company.
55
(c) The capital contribution made by MECI through Iberian Hy-Power Amsterdam B.V. was $63,266.
(d) Capitalization or total equity = $5,599,061
Net income after taxes for 2001 = $61,394
(e) There is a management fee agreement between Iberica and Electro Metalurgica del Ebro S.L. (EMESA). Iberica
provides administrative and financial services to EMESA. As of December 31 2001, EMESA has paid Iberica $437,724
for services rendered under this management fee arrangement.
4.EME19 LAKELAND POWER LTD. [FUCO]
(a) Lakeland Power Ltd. ("Lakeland"), Roosecote Power Station, Barrow-in-Furness, Cumbria, England LA13 OPQ
Lakeland's facilities consist of a 220 MW gas-fired combined cycle electricity generation plant.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 1% of Pride Hold Limited and 100% of Mission Energy Company (UK) Limited; Mission Energy Company (UK)
Limited owns 99% of Pride Hold Limited. Pride Hold Limited owns 100% of Lakeland Power Ltd., the foreign utility
company.
(c) The capital contribution made by Edison Mission Energy through its subsidiary Pride Hold Limited was
$6,021,299.
(d) Capitalization or total equity = $30,748,265
Net income after taxes for 2001 = $25,110,327
(e) There are no contracts between Lakeland and any system company.
4.EME20 ISAB ENERGY, s.r.l. [FUCO]
(a) ISAB Energy, s.r.l. ("ISAB"), Corso Gelone No. 103, Siracusa, Sicily, Italy
ISAB's facilities consist of a 512 MW integrated gasification and combined cycle power plant, located in Priolo
Gargallo, 8 kilometers from Siracusa, Sicily. ISAB became operational in April 2000.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI directly owns 99% of MEC Priolo B.V. and through its wholly owned subsidiary MEC International Holdings B.V.
indirectly owns the remaining 1% of MEC Priolo B.V.; MEC Priolo B.V. owns 49% of ISAB, the foreign utility
company.
(c) In connection with the refinancing of ISAB in June 2000, (i) the partners agreed to reduce the equity and
subordinated debt required from 25% of project costs to 10%, and (ii) Edison Mission Energy guaranteed (for the
benefit of the banks financing the construction of the power plant) MEC Priolo B.V.'s
56
obligation to inject into ISAB equity and subordinated debt totaling $45,133,150. In connection with the
financing of ISAB, Edison Mission Operation & Maintenance, Inc. ("EMOMI") pursuant to a guarantee (the "EMOMI
Guarantee") has guaranteed (for the benefit of ISAB and the banks financing the construction of the ISAB power
plant) ISAB Energy Services' financial obligations (as the operator) to ISAB under the Operation and Maintenance
Agreement for the operation and maintenance of the power plant. The maximum payable by EMOMI under the EMOMI
Guarantee is capped at the mobilization fee or base fee paid in any given year (anywhere from $3-5 million per
year). Deasphalter O&M (capped at base or mobilization fee - less than $1 million per year).
(d) Capitalization or total equity = $8,223,702
Net income after taxes for 2001 = $6,844,824
(e) ISAB and Edison Mission Energy Limited ("EMEL") entered into a Secondment Agreement on January 1, 1997,
wherein EMEL seconds certain of its employees to ISAB to assist in areas related to ISAB's business (i.e.,
project management). Under this agreement, EMEL has received compensation in the amount of $0 for 2001.
Mission Energy Italia s.r.l. ("MEI") and ISAB have entered into a Secondment Agreement effective January 1, 1997
(amended October 1, 2000), wherein MEI seconds certain of its employees to ISAB to assist in areas related to
ISAB's business (i.e., project control and general management). Under this Secondment Agreement, MEI has
received $330,596 for the year ended December 31, 2001.
EMEL entered into a Sponsor Support Agreement with ISAB effective January 1, 1997 (amended October 1, 2000),
wherein EMEL provides activities to ISAB in the areas which include the following: financial model
administration; maintenance and development of relationship with lenders to ISAB; advice on finance; maintenance
and development of relationship with insurance companies; maintenance and development of relationship with
international law firms; supervision and preparation of legal contracts and provide interpretation of existing
contracts. During 2001, EMEL has received $169,072 under this Sponsor Support Agreement.
4.EME21 ITALIAN VENTO POWER CORPORATION 4 S.R.L. [FUCO]
(a) Italian Vento Power Corporation 4 S.r.l. ("IVPC"), Via Circumvallazione, 54/h, 83100 Avellino, Italy
IVPC is developing 280.7 MW of wind-generated capacity in rural Italy in eleven projects, consisting of clusters
of 660 kW and 600kW turbines and associated equipment in the following comunes (townships): (1) 47 turbines
totaling 30 MW in Andretta and Bisaccia; (2) 60 turbines totaling 39.6 MW in Lacedonia and Monteverde; (3) 41
turbines totaling 27.06 MW in Monacilioni, Pielracatella, and Sant Elia; (4) 60 turbines totaling 39.6 MW in
Forenza and Maschito; (5) 25 turbines totaling 15 MW in Volturara and Motta Moniecorvino; (6) 30 turbines
totaling 18 MW in Roselo; (7) 47 turbines totaling 30.3 MW in Celle San Vito, Greci and Montaguto; (8) 30
turbines totaling 19.8 MW in Panni; (9) 45 turbines totaling 29.7 MW in Bortigiadas, Aggius and Vidalba; (10) 34
turbines totaling 22.44 MW in Avigliano; and (11) 14 turbines totaling 9.24 MW in Roseto. The projects include
transmission lines connecting the generating facilities to the grid, ranging in length from less than 100 meters
to a maximum of 9 kilometers. IVPC is also constructing, but will not own, substations associated with the
projects. IVPC also owns and is currently operating a 2.4 MW project in Rocca San Felice consisting of four 600
kW turbines and associated equipment.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D
57
shares) of MECI through its wholly owned subsidiary Edison Mission Project Co. MECI owns 100% of Edison Mission
Wind Power Italy B.V. (formerly IVPC Energy 5 B.V.) ("EMWP"), which owns 50% of IVPC, the foreign utility company.
(c) The capital contribution made by Edison Mission Energy through Edison Mission Wind Power was $53,565,839.
Under the terms of the Intercreditor Agreement dated March 3, 2000, to which EMWP is a party, any Junior Debt,
which is widely defined as, essentially, any liability owed by IVPC to EMWP, is subordinated to the obligations
of IVPC to the banks party thereto, in a manner in which any amount received or otherwise receivable by EMWP from
IVPC may be applied against IVPC's debts to such banks, save for certain excepted payments specified therein,
referred to as Permitted Distributions.
Under the terms of the Project Finance Facilities Syndicated Credit Agreement dated September 7, 2000, to which
IVPC, but not EMWP, is a party, there are restrictions imposed upon IVPC on amounts that IVPC may distribute or
otherwise pay to EMWP and in certain circumstances amounts otherwise so distributable or payable may be applied
against the amounts outstanding under that agreement from IVPC to the banks lending thereunder.
EMWP has also pledged its shares to the lenders under the Facilities Agreement referred to above and other
financial institutions as security for IVPC's obligations.
(c.1) (a) on March 3, 2000, EMWP and IVPC entered into a "Subordinated Loan Agreement" according to which EMWP
has undertaken to finance IVPC by way of subordinated loans in the amounts set forth therein; and (b) according
to the "Development Permits for Stages A and B" letter dated March 15, 2000, MECI has undertaken toward UPC
International Partnership CV II, inter alia, the obligation to procure that EMWP extends a loan to IVPC for up to
50% of the equity contribution required to be contributed to IVPC with respect to such Stage under the Senior
Loan, in the event that any Permit for Stages A and B has not been issued.
(d) Capitalization or total equity = $33,143,960
Net income after taxes for 2001 = $3,109,096
(e) There are no services contracts between IVPC and any system company.
4.EME22 DOGA ENERJI URETIM SANAYI VE TICARET L.S. [FUCO]
(a) Doga Enerji Uretim Sanayi ve Ticaret L.S. ("Doga"), Merkez Mahallesi, Birlik Caddesi 11/8, Esenyurt,
Istanbul, Turkey
Doga's facility used for the generation, transmission, or distribution of electric energy for sale consists of a
180 MW combined cycle turbine cogeneration plant in Istanbul, Turkey. Doga became operational in May 1999.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 99% of MEC Esenyurt B.V. and through its wholly owned subsidiary MEC International Holdings B.V.
indirectly owns the remaining 1% of MEC Esenyurt B.V.; MEC Esenyurt B.V. owns 80% of Doga, the foreign utility
company.
(c) In connection with the financing of Doga, Edison Mission Operation & Maintenance, Inc. ("EMOMI"), pursuant
to a guarantee ("EMOMI Guarantee"), has guaranteed (for the benefit of Doga and the Banks) the financial
obligations of Doga Isletme ve Bakim Ticaret L.S. (as operator) to Doga under the Operation and
58
Maintenance Agreement for the operation and maintenance of the power plant. The maximum amount payable by EMOMI
under the EMOMI Guarantee is capped at the base fee paid in any given year (no more than $1 million per year.)
The capital contribution made by Edison Mission Energy through MEC Esenyurt B.V. was $34,849,343.
(d) Capitalization or total equity = $51,451,546
Net income after taxes for 2001 = $6,615,420
(e) There are no contracts between Doga and any system company.
4.EME23 CBK POWER COMPANY LTD. [FUCO]
(a) CBK Power Company Limited, a Philippine limited partnership ("CBK"), 1701 One Magnificent Mile Building, San
Miguel Avenue, Ortigas Center, Pasig City, Philippines
Upon completion of all rehabilitation and upgrading (of 3 hydroelectric power plants known as Caliraya, Botocan,
and Kalayaan I and related civil structures located in the province of Laguna, Republic of the Philippines) and
construction of a new 348.6 MW, two-unit hydroelectric power plant and a new spillway), the new and upgraded CBK
Complex will have a reliable power output of 728 MW.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
MECI owns 100% of Edison Mission Millennium B.V. which owns 100% of EME Kalayaan B.V. and EME Caliraya B.V.; EME
Kalayaan B.V. owns 1% GP of CBK and EME Caliraya B.V. owns 49% LP of CBK.
(c) Capital invest as of December 31, 2001
Payment to IMPSA under General Engineering services = $20 million
Equity contribution = $10,437,275
Equity Guarantee - Under the Capital Contribution Guarantee, EME guarantees its equity contribution
obligation of $56 million (now $46 million). In the event EME should be down graded below investment grade, EME
would be required to provide a letter of credit to back up the uncontributed portion.
(d) Capitalization or total equity = $29,908,482
Net income after taxes for 2001 = $0
(e) (1) Owner's Representative Agreement for onshore services - Entered into between CBK and EME Philippines
Services Corporation ("EME Philippines"). EME Philippines provides onshore owner's representative services to CBK
during the construction period. Total fee is US$ 4.5165 million.
(2) Owner's Representative Agreement for offshore services - Entered into between CBK and Edison Mission Energy
Asia ("EME Asia"). EME Asia provides offshore owner's representative services to CBK during the construction
period. Total fee is US$ 3.3835 million.
(3) Management and Technical Services Contract - This is the O&M contract entered into between CBK and Kalayann
Power Management Corporation ("KPMC") for 25 years commencing on February 9, 2001. KPMC is a 50/50 JV between
EMOM Services B.V. and IMPSA Construction and Services B.V. KPMC provides service to manage the maintenance,
repair and operation of CBK. The Fee is US$500,000 per year escalated according to US Producers Price Index.
CBK is also to reimburse all costs and expenses incurred by KPMC in performing these services. The aggregate
liability of KPMC shall in no event exceed the Management Fee plus bonus. There are no consequential damages.
59
4.EME24 KALAYAAN POWER MANAGEMENT CORPORATION (FUCO)
(a) Kalayaan Power Management Corporation, a Philippines Corporation, NPC Compound, Kalayaan, Province of
Laguna, Philippines
Kalayaan Power Management Corporation ("Kalayaan PMC"), Kalayaan PMC is to provide operation and services for CBK
Power Company Limited ("CBK") which is rehabilitating and upgrading four hydroelectric power plant projects in
the province of Laguna, Republic of the Philippines. Under the terms of a management and technical services
contract between CBK and this project. When this project is completed, the total installed capacity of these
four hydroelectric facilities will increase from 367.8 MW to approximately 728 MW, as follows: (1) the Kalayaan
I facility, a pumped storage facility with two turbine pump units will be upgraded such that both will be 168 MW,
for a total of 336 MW; (2) the Kalayaan II facility, another pumped storage facility, will be constructed to
consist of two pump units of 174.3 MW each, for a total of 348.6 MW; (3) the Caliraya hydroelectric facility will
be upgraded to divert water into two 11.3 MW units, for a total of 22.6 MW; and (4) the Botocan facility will be
upgraded to divert water into two 10 MW units, for a total of 20 MW. Each power plant will include auxiliary
equipment and interconnecting transmission facilities.
(b) Edison International owns 100% of The Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission Energy Holdings International, Inc. Mission Energy Holdings International, Inc. directly owns 99.97%
(100% of the Class A shares) of MEC International B.V. ("MECI") and indirectly owns 0.02% of MECI through its
wholly owned subsidiaries EME UK International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and
EME Southwest Power Corporation, which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy
owns 0.01% (100% of the Class D shares). MECI owns 100% of Edison Mission Operation and Maintenance Services
B.V., which owns 50% of Kalayaan Power Management Corporation.
(c) Capital invest as of December 31, 2001 = $103,043
Equity Guarantee - Under the Capital Contribution Guarantee, EME guarantees its equity contribution obligation of
$56 million (now $46 million). In the event EME should be down graded below investment grade, EME would be
required to provide a letter of credit to back up the uncontributed portion.
(d) Capitalization or total equity = $476,522
Net income after taxes for 2001 = $280,912
(c) (1) Owner's Representative Agreement for onshore services - Entered into between CBK and EME Philippines
Services Corporation ("EME Philippines"). EME Philippines provides onshore owner's representative services to CBK
during the construction period. Total fee is US$ 4.5165 million.
(2) Owner's Representative Agreement for offshore services - Entered into between CBK and Edison Mission Energy
Asia ("EME Asia"). EME Asia provides offshore owner's representative services to CBK during the construction
period. Total fee is US$ 3.3835 million.
(3) Management and Technical Services Contract - This is the O&M contract entered into between CBK and Kalayann
Power Management Corporation ("KPMC") for 25 years commencing on February 9, 2001. KPMC is a 50/50 JV between
EMOM Services B.V. and IMPSA Construction and Services B.V. KPMC provides service to manage the maintenance,
repair and operation of CBK. The Fee is US$500,000 per year escalated according to US Producers Price Index.
CBK is also to reimburse all costs and expenses incurred by KPMC in performing these services. The aggregate
liability of KPMC shall in no event exceed the Management Fee plus bonus. There are no consequential damages.
4.EME25 SUNRISE POWER COMPANY LLC (EWG)
(a) Sunrise Power Company, LLC 50% [EWG], 12857 Sunrise Power Road, Fellows, CA 93224
60
Sunrise consists of a 320 MW simple-cycle peaking facility which became operational on June 27, 2001 ("Phase 1")
and Phase 2 which is to convert the peaking facility to a 560 MW combined-cycle operation is anticipated to
become operational in 2003.
Edison Mission Energy purchased Sunrise Power Company, a Delaware corporation through its subsidiary Mission Del
Sol LLC, a Delaware limited liability company on November 17, 2000.
Sunrise was originally to be developed as an enhanced oil recovery ("EOR") cogeneration project. By the summer
of 2000, Texaco Gasification and Power Holdings, Inc. ("Texaco") decided to abandon the project due to changes in
the oil field cogen economics. EME approached Texaco and suggested that the original EOR project be reconfigured
and developed in two phases. EME purchased the rights to the project, including two GE Fram 7FA gas turbines and
other major equipment that had already been procured. On May 29, 2001, Sunrise Power Company was converted to
Sunrise Power Company, LLC a Delaware limited liability company and Texaco exercised its option to buy back 50%
of Sunrise.
(b) Edison International owns 100% of the Mission Group; The Mission Group owns 100% of Mission Energy Holding
Company; Mission Energy Holding Company owns 100% of Edison Mission Energy; Edison Mission Energy owns 100% of
Mission del Cielo, Inc.; Mission del Cielo, Inc. owns 100% of Mission del Sol LLC; Mission del Sol LLC owns 50%
of Sunrise Power Company LLC
(c) Under the Sunrise partnership agreement, EME is obligated to provide 50% capital budget for the project. As
of December 31, 2001, EME has paid $88,205,179.
(d) Capitalization or total equity = $101,974,042
Net income after taxes for 2001 = $13,842,988
(e) Edison Mission Operation & Maintenance, Inc. and Sunrise have entered into that certain Amended and Restated
Operation and Maintenance Agreement, dated as of June 25, 2001. As of December 31, 2001, EMOM has received
$343,690 for providing O&M services to Sunrise.
EMMT, a wholly owned subsidiary of Edison Mission Energy entered into an Energy Services Agreement with Sunrise,
wherein EMMT provides fuel procurement and power management services to Sunrise. As of December 31, 2001,
Sunrise paid $287,849 to EMMT for services rendered under this agreement.
61
EXHIBIT A
A CONSOLIDATING STATEMENT OF INCOME AND SURPLUS OF THE
CLAIMANT AND ITS SUBSIDIARY COMPANIES FOR THE LAST CALENDAR YEAR,
TOGETHER WITH A CONSOLIDATING BALANCE SHEET OF CLAIMANT AND ITS
SUBSIDIARY COMPANIES AS OF THE CLOSE OF SUCH CALENDAR YEAR.
Consolidating statements of income and surplus for the year ended December 31, 2001, and consolidating
balance sheets as of December 31, 2001, for the claimant and its subsidiary companies.
EXHIBIT B
AN ORGANIZATIONAL CHART SHOWING THE RELATIONSHIP OF EACH EWG
OR FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES IN THE HOLDING
COMPANY SYSTEM.
The above-named claimant has caused this statement to be duly executed on its behalf by its authorized
officer on this 28th day of February, 2002.
EDISON INTERNATIONAL
By: Kenneth S. Stewart
------------------
Kenneth S. Stewart
Assistant General Counsel
Corporate Seal
Attest:
Bonita J. Smith
---------------
Bonita J. Smith
Assistant Secretary
NAME, TITLE AND ADDRESS OF OFFICER TO WHOM NOTICES AND CORRESPONDENCE CONCERNING THIS STATEMENT SHOULD BE
ADDRESSED:
Kenneth S. Stewart Assistant General Counsel
-------------------------------------------------------------------------------------
(Name) (Title)
2244 Walnut Grove Avenue, Post Office Box 999, Rosemead, CA 91770
-----------------------------------------------------------------
(Address)
62
SCHEDULE I
SOUTHERN CALIFORNIA EDISON COMPANY
ELECTRIC GENERATING PROPERTIES
63
SCHEDULE I
SOUTHERN CALIFORNIA EDISON COMPANY
ELECTRIC GENERATING PROPERTIES
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------
MAIN SYSTEM - SCE OWNED
COAL:
Four Corners San Juan, NM 4 07/01/1969 818,100
Owned by Others - 52% (425,412)
----------------
Owned by SCE - 48% 392,688
5 07/01/1970 818,100
Owned by Others - 52% (425,412)
----------------
Owned by SCE - 48% 392,688
TOTAL SCE 785,376
================
Mohave Clark, NV 1 04/01/1971 818,100
Owned by Others - 44% (359,964)
----------------
Owned by SCE - 56% 458,136
2 10/01/1971 818,100
Owned by Others - 44% (359,964)
----------------
Owned by SCE - 56% 458,136
TOTAL SCE 916,272
================
TOTAL COAL 1,701,648
================
NUCLEAR:
San Onofre San Diego 1 01/01/1968 0
Owned by Others - 20% 0
----------------
Owned by SCE - 80% 0
2 08/08/1983 1,127,000
Owned by Others - 24.95% (281,185)
----------------
Owned by SCE - 75.05% 845,815
3 04/01/1984 1,127,000
Owned by Others - 24.95% (281,185)
----------------
Owned by SCE - 75.05% 845,815
TOTAL SCE 1,691,630
================
Palo Verde Maricopa, AZ 1 02/01/1986 1,403,100
Owned by Others - 84.2% (1,181,410)
----------------
Owned by SCE - 15.8% 221,690
2 09/19/1986 1,403,100
Owned by Others - 84.2% (1,181,410)
----------------
Owned by SCE - 15.8% 221,690
64
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------
3 01/20/1988 1,403,100
Owned by Others - 84.2% (1,181,410)
----------------
Owned by SCE - 15.8% 221,690
TOTAL SCE 665,070
================
TOTAL NUCLEAR: 2,356,700
================
HYDRO:
NORTHERN REGION HYDROELECTRIC PLANTS:
Big Creek #1 Fresno 1 11/08/1913 19,800
2 11/08/1913 15,750
3 07/12/1923 21,600
4 06/08/1925 31,200
----------------- ----------------
TOTAL PLANT 88,350
Big Creek #2 Fresno 3 12/18/1913 15,750
4 01/11/1914 15,750
5 02/01/1921 17,500
6 03/31/1925 17,500
----------------- ----------------
TOTAL PLANT 66,500
Big Creek #2A Fresno 1 08/06/1928 55,000
2 12/21/1928 55,000
----------------- ----------------
TOTAL PLANT 110,000
Big Creek #3 Fresno & Madera 1 10/03/1923 34,000
2 09/30/1923 34,000
3 10/05/1923 34,000
4 04/28/1948 36,000
5 02/24/1980 36,450
----------------- ----------------
TOTAL PLANT 174,450
Big Creek #4 Fresno & Madera 1 06/12/1951 50,000
2 07/02/1951 50,000
----------------- ----------------
TOTAL PLANT 100,000
Big Creek #4 Dam 7 Fresno & Madera 350
(fishwater generator)
Big Creek #8 Fresno 1 08/16/1921 30,000
2 06/08/1929 45,000
----------------- ----------------
TOTAL PLANT 75,000
Mammoth Pool Madera 1 03/28/1960 95,000
2 03/28/1960 95,000
----------------- ----------------
TOTAL PLANT 190,000
65
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------
NORTHERN REGION HYDROELECTRIC PLANTS
(continued)
Mammoth Pool - Res. Madera 937
(fishwater generator)
Portal Fresno 1 12/22/1956 10,800
John S. Eastwood Fresno 1 12/01/1987 199,800
TOTAL NORTHERN REGION HYDRO
PLANTS 1,016,187
================
EASTERN REGION HYDROELECTRIC PLANTS:
Fontana San Bernardino 1 12/22/1917 1,475
2 12/22/1917 1,475
----------------- ----------------
TOTAL PLANT 2,950
Kaweah #1 Tulare 1 05/25/1929 2,250
Kaweah #2 Tulare 2 09/13/1929 1,800
Kaweah #3 Tulare 1 05/29/1913 2,400
2 05/29/1913 2,400
----------------- ----------------
TOTAL PLANT 4,800
Kern River #1 Kern 1 05/19/1907 6,570
2 06/07/1907 6,570
3 07/29/1907 6,570
4 06/27/1907 6,570
----------------- ----------------
TOTAL PLANT 26,280
Kern River #3 Kern 1 05/13/1921 20,500
2 03/22/1921 19,675
----------------- ----------------
TOTAL PLANT 40,175
Kern River Borel Kern 1 12/31/1904 3,000
2 12/31/1904 3,000
3 01/23/1932 6,000
----------------- ----------------
TOTAL PLANT 12,000
Lytle Creek San Bernardino 1 10/23/1904 250
2 09/15/1904 250
----------------- ----------------
TOTAL PLANT 500
Ontario #1 Los Angeles 1 12/00/1902 200
2 12/00/1902 200
3 12/00/1902 200
----------------- ----------------
TOTAL PLANT 600
Ontario #2 Los Angeles 1 06/13/1963 320
66
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------
EASTERN REGION HYDROELECTRIC PLANTS
(continued)
San Gorgonio #1 Riverside 1 12/05/1923 1,500
San Gorgonio #2 Riverside 1 12/17/1923 938
Santa Ana #1 San Bernardino 1 02/14/1899 800
2 02/10/1899 800
3 01/09/1899 800
4 01/10/1899 800
----------------- ----------------
TOTAL PLANT 3,200
Santa Ana #3 San Bernardino 1 11/16/1999 3,100
[Santa Ana #2 replaced by new Santa Ana #3 plant]
Sierra Los Angeles 1 01/12/1922 240
2 02/16/1922 240
----------------- ----------------
TOTAL PLANT 480
Tule River Tulare 1 09/14/1909 1,260
2 09/14/1909 1,260
----------------- ----------------
TOTAL PLANT 2,520
Mill Creek #1 San Bernardino 1 09/07/1893 800
Mill Creek #2 San Bernardino 1 08/03/1904 250
Mill Creek #3 San Bernardino 3 03/20/1903 1,000
4 01/23/1904 1,000
5 03/03/1904 1,000
----------------- ----------------
TOTAL PLANT 3,000
Bishop Creek #2 Inyo 1 11/00/1908 2,500
2 11/00/1908 2,500
3 06/00/1911 2,320
----------------- ----------------
TOTAL PLANT 7,320
Bishop Creek #3 Inyo 1 06/12/1913 2,750
2 06/12/1913 2,340
3 06/12/1913 2,750
----------------- ----------------
TOTAL PLANT 7,840
Bishop Creek #4 Inyo 1 09/20/1905 1,000
2 09/20/1905 1,000
3 00/00/1906 1,985
4 10/01/1907 1,985
5 00/00/1909 1,985
----------------- ----------------
TOTAL PLANT 7,955
Bishop Creek #5 Inyo 1 05/30/1943 2,000
2 06/01/1919 2,532
----------------- ----------------
TOTAL PLANT 4,532
67
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
--------------------------------------------- --------------------- -------- ----------------- ----------------
EASTERN REGION HYDROELECTRIC PLANTS
(continued)
Bishop Creek #6 Inyo 1 03/12/1913 1,600
Lundy Mono 1 12/09/1911 1,500
2 02/02/1912 1,500
----------------- ----------------
TOTAL PLANT 3,000
Poole Mono 1 00/00/1924 11,250
Rush Creek Mono 1 10/17/1916 4,400
2 12/11/1917 4,000
----------------- ----------------
TOTAL PLANT 8,400
TOTAL EASTERN REGION HYDRO
PLANTS 159,360
================
TOTAL HYDRO PLANTS 1,175,547
================
TOTAL SCE OWNED RESOURCES (MAIN SYSTEM)
5,233,895
================
ISOLATED SYSTEMS:
Pebbly Beach (Diesel) Los Angeles 7 07/03/1958 1,000
(Catalina) 8 06/26/1963 1,500
10 07/25/1966 1,125
12 06/18/1976 1,550
14 10/24/1986 1,400
15 12/31/1995 2,800
----------------- ----------------
TOTAL PLANT 9,375
Catalina Hydro Los Angeles 1 05/05/1983 30
2 07/24/1985 22
3 07/24/1985 57
----------------- ----------------
TOTAL PLANT 109
TOTAL SCE OWNED RESOURCES: 9,484
================
TOTAL ISOLATED SYSTEMS RESOURCES
9,484
================
68
EXHIBIT A
CONSOLIDATING STATEMENTS OF INCOME AND SURPLUS
CONSOLIDATING BALANCE SHEETS
69
EXHIBIT A
CONSOLIDATING STATEMENTS OF INCOME AND SURPLUS
CONSOLIDATING BALANCE SHEETS
Attached hereto as Exhibit A are the following financial statements
dated as of December 31, 2001, or for the year then ended:
PAGES
Consolidating Balance Sheet and Consolidating Statements
of Income and Retained Earnings, unless otherwise noted:
-------------------------------Part 2------------------------------
Edison International and Subsidiaries 86-97
Southern California Edison Company and Subsidiaries 98-113
Southern California Edison Company and Subsidiaries
Equity Investments 114
Edison Ventures and Subsidiaries 115-120
The Mission Group and Subsidiaries 121-132
Edison Enterprises and Subsidiaries 133-138
Edison Source and Subsidiaries 139-144
Edison Select and Subsidiaries 145-153
Edison Technology Solutions and Subsidiaries 154-159
Edison Technology Solutions and Subsidiaries
Equity Investments 160
Mission Energy Holding Company and Subsidiaries 161-166
-------------------------------Part 3------------------------------
Edison Capital and Subsidiaries
Consolidating Balance Sheet (ASSETS) 167-198
-------------------------------Part 4------------------------------
Edison Capital and Subsidiaries
Consolidating Balance Sheet (LIABILITIES) 199-230
-------------------------------Part 5------------------------------
Edison Capital and Subsidiaries
Consolidating Statements of Income and Retained Earnings 231-262
-------------------------------Part 6a-----------------------------
Edison Capital and Subsidiaries
Equity Investments in Real Estate Limited Partnerships (A-L)
[Based on financial statements as of December 31, 2000] 263-294
-------------------------------Part 6b-----------------------------
Edison Capital and Subsidiaries
Equity Investments in Real Estate Limited Partnerships (M-Z), Etc.
[Based on financial statements as of December 31, 2000] 295-331
-------------------------------Part 7------------------------------
Mission Land Company and Subsidiaries 332-346
Mission Power Engineering Company and Subsidiaries 347-352
70
PAGES
-------------------------------Part 8a-----------------------------
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet 353-418
-------------------------------Part 8b------------------------------
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings 419-451
Edison Mission Energy and Subsidiaries
Equity Investments 452-459
-------------------------------Part 9------------------------------
Edison Mission Energy Fuel and Subsidiaries 460-468
Edison Mission Holdings Co. and Subsidiaries 469-477
EME CP Holdings Co. and Subsidiaries 478-492
EME Eastern Holdings Co. and Subsidiaries 493-498
Hanover Energy Company and Subsidiaries 499-504
Majestic Energy Limited and Subsidiaries 505-510
Midwest Generation EME, LLC and Subsidiaries 511-519
Mission Del Cielo, Inc. and Subsidiaries 520-525
Mission Energy Holdings International, Inc. and Subsidiaries 526-534
Mission Energy Wales Company and Subsidiaries 535-564
-------------------------------Part 10------------------------------
MEC International B.V. and Subsidiaries 565-615
MECI, Edison Mission Energy Asia Pte Ltd and Subsidiaries 616-624
MECI, Edison Mission Millennium B.V. and Subsidiaries 625-633
MECI, Edison Mission Operation & Maintenance Services B.V. and Subsidiaries 634-639
MECI, EME Atlantic Holdings Limited and Subsidiaries 640-648
MECI, EMEA, Mission Energy Universal Holdings and Subsidiaries 649-654
MECI, Global Generation B.V. and Subsidiaries 655-660
MECI, GGBV, Edison First Power Holdings II and Subsidiaries 661-666
-------------------------------Part 11------------------------------
MECI, GGBV, EFPHII, Edison First Power Holdings I and Subsidiaries 667-675
MECI, GGBV, EFPHII, EFPHI, South Australian Holdings Ltd. and Subsidiaries 676-681
MECI, GGBV, EFPHII, EFPHI, SAHL, EME International Dragon Limited 682-690
MECI, GGBV, EFPHII, EFPHI, Maplekey Holdings Limited and Subsidiaries 691-696
MECI, Hydro Energy B.V. and Subsidiaries 697-702
MECI, Iberian Hy-Power Amsterdam B.V. and Subsidiaries 703-714
MECI, Latrobe Power Pty Ltd and Subsidiaries 715-720
MECI, Latrobe Valley B.V. and Subsidiaries 721-726
MECI, Loy Yang Holdings Pty Ltd and Subsidiaries 727-735
MECI, Loy Yang, Edison Mission Energy Holdings Pty Ltd and Subsidiaries 736-750
MECI, Loy Yang, Latrobe Power Pty Ltd and Subsidiaries 751-756
MECI, Loy Yang, Mission Energy Ventures Australia Pty Ltd and Subsidiaries 757-762
MECI, Loy Yang, Traralgon Power Pty. Ltd. and Subsidiaries 763-768
71
PAGES
-------------------------------Part 12------------------------------
MECI, MEC Esenyurt B.V. and Subsidiaries 769-774
MECI, MEC International Holdings B.V. and Subsidiaries 775-795
MECI, MECI Holdings, MEC Esenyurt B.V. and Subsidiaries 796-801
MECI, MECI Holdings, MEC Perth B.V. and Subsidiaries 802-807
MECI, MECI Holdings, MEC San Pascual B.V. and Subsidiaries 808-813
MECI, MECI Holdings, MEC Wales B.V. and Subsidiaries 814-819
MECI, MECI Holdings, MEC Wales, Mission Hydro Limited
Partnership and Subsidiaries 820-825
MECI, MECI Holdings, MEC Wales, MHLP, EME Generation
Holdings Limited and Subsidiaries 826-843
MECI, MEC Perth B.V. and Subsidiaries 844-849
MECI, MEC San Pascual B.V. and Subsidiaries 850-855
-------------------------------Part 13------------------------------
MECI, MEC Wales B.V. and Subsidiaries 856-860
MECI, MEC Wales, Mission Hydro Limited Partnership and Subsidiaries 861-867
MECI, MEC Wales, MHLP, EME Generation Holdings Limited and Subsidiaries 868-884
MECI, Mission Energy Company (U.K.) Limited and Subsidiaries 885-896
MECI, MEC(UK), Mission Hydro (UK) Limited and Subsidiaries 897-903
MECI, MEC(UK), MH(UK), First Hydro Holdings Co. and Subsidiaries 904-909
MECI, MEC(UK), MH(UK), Mission Hydro Limited Partnership and Subsidiaries 910-915
MECI, MEC(UK), MH(UK), MHLP, EME Generation Holdings Limited and Subsidiaries 916-933
MECI, MEC(UK), Pride Hold Limited and Subsidiaries 934-939
MECI, Pride Hold Limited and Subsidiaries 940-945
MECI, EcoElectrica S.a.r.l. and Subsidiaries 946-954
MECI, Traralgon Power Pty. Ltd. and Subsidiaries 955-960
MEC International B.V. and Subsidiaries Equity Investments 961-962
72
EXHIBIT B
EXEMPT WHOLESALE GENERATORS [EWGs]
AND FOREIGN UTILITY COMPANIES [FUCOs]
73
EXHIBIT B
EXEMPT WHOLESALE GENERATORS [EWGs]
AND FOREIGN UTILITY COMPANIES [FUCOs]
EDISON CAPITAL
--------------
4.EC01 ELECTRICIDAD DE LA PAZ S.A. [FUCO]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Epsilon
05 Edison Capital International (Bermuda) Ltd.
06 Edison Capital Latin American Investments (Bermuda) Ltd.
07 AIG-GE Capital Latin American Infrastructure Fund LP
08 Andes Energy XII Ltd.
09 Paz Holdings Ltd.
10 Electricidad de La Paz S.A.
4.EC02 EMPRESA DE LUZ Y FUERZA ELECTRICA DE ORURO S.A. [FUCO]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Epsilon
05 Edison Capital International (Bermuda) Ltd.
06 Edison Capital Latin American Investments (Bermuda) Ltd.
07 AIG-GE Capital Latin American Infrastructure Fund LP
08 Andes Energy XII Ltd.
09 Paz Holdings Ltd.
10 Empresa de Luz y Fuerza Electrica de Oruro S.A.
4.EC03 EPZ MISSION FUNDING MU TRUST [FUCO]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Epsilon
05 Mission Funding Alpha
06 Mission Funding Mu
07 EPZ Mission Funding Mu Trust
4.EC04 EPZ MISSION FUNDING NU TRUST [FUCO]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Epsilon
05 Mission Funding Delta
06 Mission Funding Nu
07 EPZ Mission Funding Nu Trust
74
4.EC05 LAKOTA RIDGE LLC [EWG]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Zeta
05 Lakota Ridge LLC 75%
4.EC06 SHAOKATAN HILLS LLC [EWG]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Zeta
05 Shaokatan Hills LLC 75%
4.EC07 WOODSTOCK HILLS LLC [EWG]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Zeta
05 Woodstock Hills LLC 75%
4.EC08 STORM LAKE PARTNERS I LLC [EWG]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Iowa Wind Company
05 Storm Lake Partners I LLC 99%
EDISON MISSION ENERGY
---------------------
4.EME01 BROOKLYN NAVY YARD COGENERATION PARTNERS, LP [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy New York, Inc.
05 Brooklyn Navy Yard Cogeneration Partners, LP (1% GP & 49%LP)
4.EME02 COMMONWEALTH ATLANTIC LIMITED PARTNERSHIP [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Hanover Energy Company
05 Chickahominy River Energy Corp.
06 Commonwealth Atlantic Limited Partnership (50%)
75
4.EME03 GORDONSVILLE ENERGY, LP [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Madison Energy Company
05 Gordonsville Energy, LP (49%)
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Rapidan Energy Company
05 Gordonsville Energy, LP (1%)
4.EME04 HARBOR COGENERATION COMPANY [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 South Coast Energy Company
05 Harbor Cogeneration Company (30%GP)
4.EME05 EME HOMER CITY GENERATION L.P. [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Edison Mission Holdings Co.
05 Chestnut Ridge Energy Company
06 EME Homer City Generation L.P. (99%LP)
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Edison Mission Holdings Co.
05 Mission Energy Westside, Inc.
06 EME Homer City Generation L.P. (1%GP)
4.EME06 MIDWEST GENERATION, LLC [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Midwest Generation EME, LLC
05 Edison Mission Midwest Holdings Co.
06 Midwest Generation, LLC
4.EME07 NEVADA SUN-PEAK LIMITED PARTNERSHIP [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Quartz Peak Energy Company
05 Nevada Sun-Peak Limited Partnership (50%)
76
4.EME08 ECOELECTRICA L.P. [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 EcoElectrica S.a.r.l.
07 EME del Caribe Holding GmbH
08 EME del Caribe
09 EcoElectrica Holdings, Ltd. 50%
10 EcoElectrica Ltd.
11 Ecoelectrica LP (1%)
---
10 Ecoelectrica LP (99%)
4.EME09 CONTACT ENERGY LIMITED [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 EME Atlantic Holdings Limited
07 EME Ascot Limited
08 EME Buckingham Limited
09 EME Precision B.V.
10 Mission Energy Universal Holdings
11 Mission Energy Pacific Holdings
12 Contact Energy Limited (50.598%)
---
10 Mission Energy Universal Holdings
11 Contact Energy Limited (0.624%)
4.EME10 PERTH POWER PARTNERSHIP [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 MEC Perth B.V. (99%)
07 Kwinana Power Partnership (99%)
08 Perth Power Partnership (70%)
---
06 MEC International Holdings B.V.
07 MEC Perth B.V. (1%)
08 Kwinana Power Partnership (99%)
09 Perth Power Partnership (70%)
77
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Loy Yang Holdings Pty Ltd.
07 Edison Mission Energy Holdings Pty Ltd.
08 Mission Energy (Kwinana) Pty Ltd.
09 Kwinana Power Partnership (1%)
10 Perth Power Partnership (70%)
4.EME11 LOY YANG B JOINT VENTURE [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
---
06A Latrobe Power Pty Ltd (99%)
07A Mission Victoria Partnership (52.31%)
08A Latrobe Power Partnership (99%)
09A Loy Yang B Joint Venture (51%)
---
06B Loy Yang Holdings Pty Ltd
07B Edison Mission Energy Holdings Pty Ltd
08B Edison Mission Energy Australia Ltd
09B Latrobe Power Partnership (1%)
10B Loy Yang B Joint Venture (51%)
---
06C Loy Yang Holdings Pty Ltd
07C Latrobe Power Pty Ltd (1%)
08C Mission Victoria Partnership (52.31%)
09C Latrobe Power Partnership (99%)
10C Loy Yang B Joint Venture (51%)
---
06D Loy Yang Holdings Pty Ltd
07D Mission Energy Ventures Australia Pty Ltd
08D Mission Victoria Partnership (1%)
09D Latrobe Power Partnership (99%)
10D Loy Yang B Joint Venture (51%)
---
06E Loy Yang Holdings Pty Ltd
07E Traralgon Power Pty Ltd (1%)
08E Mission Victoria Partnership (46.69%)
09E Latrobe Power Partnership (99%)
10E Loy Yang B Joint Venture (51%)
---
06F Traralgon Power Pty Ltd (99%)
07F Mission Victoria Partnership (46.69%)
08F Latrobe Power Partnership (99%)
09F Loy Yang B Joint Venture (51%)
---
78
06G Mission Energy Company (UK) Limited
07G Mission Hydro (UK) Ltd
08G Mission Hydro Limited Partnership (1%)
09G EME Generation Holdings Ltd
10G EME Victoria Generation Ltd
11G Mission Energy Development Australia Pty Ltd
12G Gippsland Power Pty Ltd
13G Loy Yang B Joint Venture (49%)
---
06H MEC Wales B.V. (99%)
07H Mission Hydro Limited Partnership (69%)
08H EME Generation Holdings Ltd
09H EME Victoria Generation Ltd
10H Mission Energy Development Australia Pty Ltd
11H Gippsland Power Pty Ltd
12H Loy Yang B Joint Venture (49%)
---
06I MEC International Holdings B.V.
07I MEC Wales B.V. (1%)
08I Mission Hydro Limited Partnership (69%)
09I EME Generation Holdings Ltd
10I EME Victoria Generation Ltd
11I Mission Energy Development Australia Pty Ltd
12I Gippsland Power Pty Ltd
13I Loy Yang B Joint Venture (49%)
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Wales Company
05 Mission Hydro Limited Partnership (30%)
06 EME Generation Holdings Ltd
07 EME Victoria Generation Ltd
08 Mission Energy Development Australia Pty Ltd
09 Gippsland Power Pty Ltd
10 Loy Yang B Joint Venture (49%)
4.EME12 PT. PAITON ENERGY COMPANY [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 MEC Indonesia B.V. (99%)
07 P. T. Paiton Energy Company (40%)
---
06 MEC International Holdings B.V.
07 MEC Indonesia B.V. (1%)
08 P. T. Paiton Energy Company (40%)
79
4.EME13 TRI ENERGY COMPANY LIMITED [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 EME Tri Gen B.V.
07 Tri Energy Company Limited (25%)
4.EME14 DERWENT COGENERATION LIMITED [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Mission Energy Company (UK) Limited
07 Derwent Cogeneration Limited (33%)
4.EME15 FIRST HYDRO COMPANY [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
---
06J Mission Energy Company (UK) Limited
07J Mission Hydro (UK) Ltd
08J Mission Hydro Limited Partnership (1%)
09J EME Generation Holdings Ltd
10J First Hydro Holdings Company (99%)
11J First Hydro Company (99%)
---
06K Mission Energy Company (UK) Limited
07K Mission Hydro (UK) Ltd
08K Mission Hydro Limited Partnership (1%)
09K EME Generation Holdings Ltd
10K First Hydro Holdings Company (99%)
11K First Hydro Finance plc
12K First Hydro Company (1%)
---
06L MEC Wales B.V. (99%)
07L Mission Hydro Limited Partnership (69%)
08L EME Generation Holdings Ltd
09L First Hydro Holdings Company (99%)
10L First Hydro Company (99%)
---
06M MEC Wales B.V. (99%)
07M Mission Hydro Limited Partnership (69%)
08M EME Generation Holdings Ltd
09M First Hydro Holdings Company (99%)
10M First Hydro Finance plc
11M First Hydro Company (1%)
---
80
06N MEC International Holdings B.V.
07N MEC Wales B.V. (1%)
08N Mission Hydro Limited Partnership (69%)
09N EME Generation Holdings Ltd
10N First Hydro Holdings Company (99%)
11N First Hydro Company (99%)
---
06O MEC International Holdings B.V.
07O MEC Wales B.V. (1%)
08O Mission Hydro Limited Partnership (69%)
09O EME Generation Holdings Ltd
10O First Hydro Holdings Company (99%)
11O First Hydro Finance plc
12O First Hydro Company (1%)
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Wales Company
05 Mission Hydro Limited Partnership (30%)
06 EME Generation Holdings Ltd
07 First Hydro Holdings Company (99%)
---
08 First Hydro Company (99%)
---
08 First Hydro Finance plc
09 First Hydro Company (1%)
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Mission Energy Company (UK) Limited
07 Mission Hydro (UK) Ltd
08 First Hydro Holdings Company (1%)
09 First Hydro Company (99%)
---
09 First Hydro Finance plc
10 First Hydro Company (1%)
4.EME16 EDISON FIRST POWER LIMITED [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Global Generation B.V.
07 Edison First Power Holdings I
08 Maplekey Holdings Limited
09 Maplekey UK Finance Limited
10 Maplekey UK Limited
11 Edison First Power Limited
81
4.EME17 IBERICA DE ENERGIAS, S.A. [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Hydro Energy B.V. (10%)
07 Iberica de Energias, S.A. (96.65%)
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Iberian Hy-Power Amsterdam B.V.
07 Hydro Energy B.V. (90%)
08 Iberica de Energias, S.A. (96.65%)
---
07 Iberica de Energias (3.35%)
4.EME18 ELECTROMETALURGICA DEL EBRO, S.A. [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Hydro Energy B.V. (10%)
07 Iberica de Energias, S.A. (96.65%)
08 Electrometalurgica del Ebro, S.A. (91.32%)
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Iberian Hy-Power Amsterdam B.V.
07 Hydro Energy B.V. (90%)
08 Iberica de Energias, S.A. (96.65%)
09 Electrometalurgica del Ebro, S.A. (91.32%)
--
07 Iberica de Energias, S.A. (3.35%)
08 Electrometalurgica del Ebro, S.A. (91.32%)
4.EME19 LAKELAND POWER LIMITED [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Mission Energy Company (UK) Limited
07 Pride Hold Limited (99%)
08 Lakeland Power Limited
---
82
06 Pride Hold Limited (1%)
07 Lakeland Power Limited
4.EME20 ISAB ENERGY, s.r.l. [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 MEC Priolo B.V. (99%)
07 ISAB Energy, s.r.l. (49%)
---
06 MEC International Holdings B.V.
07 MEC Priolo B.V. (1%)
08 ISAB Energy, s.r.l. (49%)
4.EME21 ITALIAN VENTO POWER CORPORATION 4 S.r.l. [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Edison Mission Wind Power Italy B.V.
07 Italian Vento Power Corporation 4 S.r.l. (50%)
4.EME22 DOGA ENERJI URETIM SANAYI VE TICARET L.S. [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 MEC Esenyurt B.V. (99%)
07 Doya Enerji Uretim Sanayi ve Ticaret L.S. (80%)
---
06 MEC International Holdings B.V.
07 MEC Esenyurt B.V. (1%)
08 Doya Enerji Uretim Sanayi ve Ticaret Anonim Sirketi (80%)
4.EME23 CBK POWER COMPANY LTD. [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Edison Mission Millennium B.V.
07 EME Caliraya B.V. (75%)
08 CBK Power Company Ltd. (49%)
---
07 EME Kayalaan B.V.
08 CBK Power Company Ltd. (1%)
83
4.EME24 KALAYAAN POWER MANAGEMENT CORPORATION [FUCO]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Energy Holdings International, Inc.*
05 MEC International B.V.
06 Edison Mission Operation and Maintenance Services B.V.
07 Kalayaan Power Management Corporation (50%)
4.EME25 SUNRISE POWER COMPANY LLC [EWG]
00 Edison International
01 The Mission Group
02 Mission Energy Holding Company
03 Edison Mission Energy
04 Mission Del Cielo, Inc.
05 Mission Del Sol, LLC
06 Sunrise Power Company, LLC (50%)
* Mission Energy Holdings International, Inc. directly owns 99.97% (100% of the Class A shares) of MEC
International B.V. ("MECI") and indirectly owns 0.02% of MECI through its wholly owned subsidiaries EME UK
International LLC, which owns 0.01% or 100% of the Class B shares of MECI, and EME Southwest Power Corporation,
which owns 0.01 or 100% of the Class C shares of MECI; Edison Mission Energy owns 0.01% (100% of the Class D
shares) of MECI through its wholly owned subsidiary Edison Mission Project Co.
84
[INTENTIONALLY LEFT BLANK]
85
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Southern The Mission Group Edison Ventures
California Edison Consolidated Consolidated
Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,414,313 $533,320
Receivables - net 1,092,401 1,397,695 $7
Accrued unbilled revenue 450,649
Fuel inventory 13,823 110,124
Materials and supplies, at average cost 146,016 57,435
Accumulated deferred income taxes - net 445,227 3
Regulatory assets - net 83,095
Trading and price risk management assets 64,729
Prepayments and other current assets 144,733 85,005
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5,790,317 2,248,308 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 158,992 6,252,969
Nuclear decommissioning trusts 2,275,403
Investments in partnerships
and unconsolidated subsidiaries 2,252,776
Investments in leveraged leases 2,385,699
Other investments 223,918 2,406
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,658,313 10,891,444 2,406
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution 13,567,641
Generation 1,729,431
Accumulated provision for depreciation
and decommissioning (7,969,358)
Construction work in progress 556,598
Nuclear fuel, at amortized cost 128,949
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant 8,013,260
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 633,042
Regulatory assets - net 5,528,224
Other deferred charges 474,556 1,782,831
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,002,780 2,415,873
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 250,571
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $22,464,670 $15,806,196 $2,416
============================================================= ==================== ==================== ====================
86
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Insurance Edison Drives Edison
Services, Inc. Electric International
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $12,245 $31,434
Receivables - net 9,320 $35 103,528
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets 2,957
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 21,565 35 137,919
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,631
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 5,989,341
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,990,972
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 8,908 3,552
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 8,908 3,552
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $30,473 $35 $6,132,443
============================================================= ==================== ==================== ====================
87
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EIX Trust I EIX Trust II EIX Trust III
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $34,609 $24,618
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 34,609 24,618
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases 515,464 335,052
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 515,464 335,052
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $550,073 $359,670
============================================================= ==================== ==================== ====================
88
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Edison
Adjustments International
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,991,372
Receivables - net ($1,403,479) 1,258,734
Accrued unbilled revenue 450,649
Fuel inventory 123,947
Materials and supplies, at average cost 203,451
Accumulated deferred income taxes - net 805,481 1,250,711
Regulatory assets - net 83,095
Trading and price risk management assets 64,729
Prepayments and other current assets 232,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (597,998) 7,659,383
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,413,592
Nuclear decommissioning trusts 2,275,403
Investments in partnerships
and unconsolidated subsidiaries (5,989,341) 2,252,776
Investments in leveraged leases (850,516) 2,385,699
Other investments 226,324
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (6,839,857) 13,553,794
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution 13,567,641
Generation 1,729,431
Accumulated provision for depreciation
and decommissioning (7,969,358)
Construction work in progress 556,598
Nuclear fuel, at amortized cost 128,949
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant 8,013,260
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 633,042
Regulatory assets - net 5,528,224
Other deferred charges (971,915) 1,297,932
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (971,915) 7,459,198
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations (45,755) 204,816
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $8,455,525 $36,890,451
============================================================= ==================== ==================== ====================
89
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Southern The Mission Group Edison Ventures
California Edison Consolidated Consolidated
Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $2,126,840 $318,241
Long-term debt classified as due within one year 2,996,300 352,607
Preferred stock to be redeemed within one year 105,000
Accounts payable 3,260,814 184,535 $25
Accrued taxes 834,835 17,587
Regulatory liabilities - net
Trading and price risk management liabilities 23,681
Other current liabilities 1,645,321 465,654
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,969,110 1,362,305 25
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 2,888,477 7,299,384
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,365,226 2,997,996
Accumulated deferred investment tax credits 153,460 18,866
Customer advances and other deferred credits 738,873 935,417
Power-purchase contracts 355,879
Accumulated provision for pension and benefits 419,901 57,111
Other long-term liabilities 147,503
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 5,180,842 4,009,390
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 71,058
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 381 344,092
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption 128,755
Subject to mandatory redemption 150,700
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 150,000
Other preferred securities 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 279,455 253,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2,168,054 147,866
Additional paid-in capital 336,505 3,300,435 2,406
Accumulated other comprehensive income (loss) (22,194) (306,502)
Retained earnings 664,040 (675,782) (15)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,146,405 2,466,017 2,391
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $22,464,670 $15,806,196 $2,416
============================================================= ==================== ==================== ====================
90
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Insurance Edison Drives Edison
Services, Inc. Electric International
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,410 $83 $1,067,258
Accrued taxes (1,315,561)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 8,694 329,924
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,104 83 81,621
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 2,417,491
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (369) 4,128
Accumulated deferred investment tax credits
Customer advances and other deferred credits 414
Power-purchase contracts
Accumulated provision for pension and benefits 27,761
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (369) 32,303
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,966,815
Additional paid-in capital 1,729
Accumulated other comprehensive income (loss)
Retained earnings 19,008 (48) 1,634,213
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 20,738 (48) 3,601,028
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $30,473 $35 $6,132,443
============================================================= ==================== ==================== ====================
91
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EIX Trust I EIX Trust II EIX Trust III
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $16,576 $10,633
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 33,594 23,898
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 50,170 34,531
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 484,769 315,131
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 484,769 315,131
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 15,464 10,052
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (330) (44)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 15,134 10,008
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $550,073 $359,670
============================================================= ==================== ==================== ====================
92
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Edison
Adjustments International
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $2,445,081
Long-term debt classified as due within one year 3,348,907
Preferred stock to be redeemed within one year 105,000
Accounts payable ($1,127,617) 3,413,717
Accrued taxes 805,481 342,342
Regulatory liabilities - net
Trading and price risk management liabilities 23,681
Other current liabilities (320,405) 2,186,680
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (642,541) 11,865,408
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (1,823,643) 10,781,709
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 6,366,981
Accumulated deferred investment tax credits 172,326
Customer advances and other deferred credits 1,674,704
Power-purchase contracts 355,879
Accumulated provision for pension and benefits 504,773
Other long-term liabilities 147,503
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 9,222,166
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 71,058
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 344,473
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption 128,755
Subject to mandatory redemption 150,700
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 949,900
Other preferred securities 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 1,333,305
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (2,341,437) 1,966,815
Additional paid-in capital (3,641,075)
Accumulated other comprehensive income (loss) (328,696)
Retained earnings (6,829) 1,634,213
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (5,989,341) 3,272,332
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($8,455,525) $36,890,451
============================================================= ==================== ==================== ====================
93
Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Southern The Mission Group Edison Ventures
California Edison Consolidated Consolidated
Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $8,125,815
Nonutility power generation $2,967,856
Financial services and other 347,531
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 8,125,815 3,315,387
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 211,534 916,848
Purchased power 3,770,379
Provisions for regulatory adjustment clauses - net (3,027,844)
Other operation and maintenance 1,771,055 1,243,850 $4
Depreciation, decommissioning and amortization 680,200 292,039
Property and other taxes 111,740 1,750
Net gain on sale of utility plant (8,625)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3,508,439 2,454,487 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 4,617,376 860,900 (4)
Interest and dividend income 215,067 68,454
Other nonoperating income 56,897 51,440
Interest expense - net of amounts capitalized (784,858) (691,935)
Other nonoperating deductions (38,492) (61,894)
Dividends on preferred securities (22,157)
Dividends on utility preferred stock (22,449)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,043,541 204,695 (4)
Income taxes (benefit) 1,658,033 56,123 (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,385,508 148,572 (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (2,222,543)
Income taxes (benefit) on discontinued operations (855,618)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2,385,508 (1,218,353) (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,721,599) 707,576 (12)
Dividends declared on common stock (165,005)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $664,040 ($675,782) ($15)
=============================================================== ==================== ==================== ====================
94
Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Catalina Edison Insurance Edison Drives
Services, Inc. Electric
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $12,124
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 12,124
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 82 $7
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 82 7
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 12,042
Interest and dividend income 1,283
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 13,325 (7)
Income taxes (benefit) 5,015 (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 8,310 (5)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 8,310 (5)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 10,698 (43)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $19,008 ($48)
=============================================================== ==================== ==================== ====================
95
Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EIX Trust I EIX Trust II EIX Trust III
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income $41,374 $29,421
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities (40,709) (28,909)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 665 512
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 665 512
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 665 512
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (691) (340)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($330) ($44)
=============================================================== ==================== ==================== ====================
96
Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Consolidating Edison
International Adjustments International
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility ($5,291) $8,120,524
Nonutility power generation 2,967,856
Financial services and other $96,301 (108,406) 347,550
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 96,301 (113,697) 11,435,930
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 1,128,382
Purchased power 3,770,379
Provisions for regulatory adjustment clauses - net (3,027,844)
Other operation and maintenance 127,737 (113,669) 3,029,066
Depreciation, decommissioning and amortization 240 972,479
Property and other taxes 113,500
Net gain on sale of utility plant 2,180 (6,445)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 127,977 (111,489) 5,979,517
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (31,676) (2,253) 5,456,385
Interest and dividend income 9,446 (82,867) 282,178
Other nonoperating income 108,337
Interest expense - net of amounts capitalized (188,146) 82,867 (1,582,072)
Other nonoperating deductions (3,333) 2,247 (101,472)
Dividends on preferred securities (91,889)
Dividends on utility preferred stock (22,449)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (213,709) 4,049,018
Income taxes (benefit) (72,021) 1,647,147
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (141,688) 2,401,871
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (2,222,543)
Income taxes (benefit) on discontinued operations 855,618
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (141,688) 1,034,946
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 599,143 $1,004,411 599,143
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
$1,634,213 $1,634,213
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
97
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
California Conservation Edison ESI
Electric Power Financing
Company Corporation
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1,807
Receivables - net 7,196
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net 52
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets 4,823
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 13,878
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 15
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 15
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges $151,000 2
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 151,000 2
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $151,000 $13,895
============================================================= ==================== ==================== ====================
98
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Material Mono Power Company SCE Capital Company
Supply LLC (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $807
Receivables - net $28,549 $10
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost 67,685
Accumulated deferred income taxes - net
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 96,244 807 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $96,244 $807 $10
============================================================= ==================== ==================== ====================
99
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
SCE Funding LLC SCE Trust I SCE Trust II
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1,443
Receivables - net 20
Accrued unbilled revenue
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets 34,812
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 36,275
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 1,528,238
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,528,238
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,564,513
============================================================= ==================== ==================== ====================
100
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
SCE UK Services Southern States Southern
Limited Realty California Edison
Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $5 $3,410,311
Receivables - net $38 20 1,160,343
Accrued unbilled revenue 450,649
Fuel inventory 13,823
Materials and supplies, at average cost 92,650
Accumulated deferred income taxes - net 445,175
Regulatory assets - net
Trading and price risk management assets
Prepayments and other current assets 105,088
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 38 25 5,778,793
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 69 158,908
Nuclear decommissioning trusts 2,275,403
Investments in partnerships
and unconsolidated subsidiaries 197,723
Investments in leveraged leases
Other investments 222,099
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 69 2,854,133
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution 13,567,641
Generation 1,729,431
Accumulated provision for depreciation
and decommissioning (7,969,358)
Construction work in progress 556,598
Nuclear fuel, at amortized cost 128,949
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant 8,013,260
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net 5,528,224
Other deferred charges 377,312
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 5,905,536
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $38 $94 $22,551,722
============================================================= ==================== ==================== ====================
101
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Southern
Adjustments California Edison
Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,414,373
Receivables - net ($103,775) 1,092,401
Accrued unbilled revenue 450,649
Fuel inventory 13,823
Materials and supplies, at average cost (14,319) 146,016
Accumulated deferred income taxes - net 445,227
Regulatory assets - net (17,659) 83,095
Trading and price risk management assets
Prepayments and other current assets 144,733
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (135,753) 5,790,317
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 158,992
Nuclear decommissioning trusts 2,275,403
Investments in partnerships
and unconsolidated subsidiaries (195,904)
Investments in leveraged leases
Other investments 223,918
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (195,904) 2,658,313
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution 13,567,641
Generation 1,729,431
Accumulated provision for depreciation
and decommissioning (7,969,358)
Construction work in progress 556,598
Nuclear fuel, at amortized cost 128,949
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant 8,013,260
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net 5,528,224
Other deferred charges (1,581,996) 474,556
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges ($1,581,996) 6,002,780
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $22,464,670
============================================================= ==================== ==================== ====================
102
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
California Conservation Edison ESI
Electric Power Financing
Company (Inactive) Corporation
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $2,207 $2,835
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,207 2,835
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (48,486) 1,254
Accumulated deferred investment tax credits
Customer advances and other deferred credits 112,396 1,760
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 63,910 3,014
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 381
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 20
Additional paid-in capital 62,983 100
Accumulated other comprehensive income (loss)
Retained earnings 21,499 7,946
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 84,502 8,046
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $151,000 $13,895
============================================================= ==================== ==================== ====================
103
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Material Mono Power Company SCE Capital Company
Supply LLC (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $19,026 $228 $2,095
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 27,093
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 46,119 228 2,095
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 5 20
Additional paid-in capital 49,995 2,749 100
Accumulated other comprehensive income (loss)
Retained earnings 125 (2,170) (2,205)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 50,125 579 (2,085)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $96,244 $807 $10
============================================================= ==================== ==================== ====================
104
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
SCE Funding LLC SCE Trust I SCE Trust II
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $246,300
Preferred stock to be redeemed within one year
Accounts payable 31,202
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,304
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 278,806
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,231,090
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 65,292
Accumulated other comprehensive income (loss)
Retained earnings (10,675)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 54,617
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,564,513
============================================================= ==================== ==================== ====================
105
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
SCE UK Services Southern States Southern
Limited Realty California Edison
Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $2,126,840
Long-term debt classified as due within one year 2,750,000
Preferred stock to be redeemed within one year 105,000
Accounts payable 3,301,901
Accrued taxes 834,835
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities $14 1,647,883
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 14 10,766,459
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 3,185,999
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($2) 3,412,460
Accumulated deferred investment tax credits 153,460
Customer advances and other deferred credits 1 678,100
Power-purchase contracts 355,879
Accumulated provision for pension and benefits 419,901
Other long-term liabilities 153,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (1) 5,173,403
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption 128,755
Subject to mandatory redemption 150,700
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 279,455
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2,168,054
Additional paid-in capital 336,505
Accumulated other comprehensive income (loss) (1) (22,193)
Retained earnings 25 95 664,040
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 24 95 3,146,406
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $38 $94 $22,551,722
============================================================= ==================== ==================== ====================
106
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Southern
Adjustments California Edison
Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $2,126,840
Long-term debt classified as due within one year 2,996,300
Preferred stock to be redeemed within one year 105,000
Accounts payable ($98,680) 3,260,814
Accrued taxes 834,835
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (30,973) 1,645,321
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (129,653) 10,969,110
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (1,528,612) 2,888,477
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,365,226
Accumulated deferred investment tax credits 153,460
Customer advances and other deferred credits (53,384) 738,873
Power-purchase contracts 355,879
Accumulated provision for pension and benefits 419,901
Other long-term liabilities (6,100) 147,503
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (59,484) 5,180,842
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 381
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption 128,755
Subject to mandatory redemption 150,700
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 279,455
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (45) 2,168,054
Additional paid-in capital (181,219) 336,505
Accumulated other comprehensive income (loss) (22,194)
Retained earnings (14,640) 664,040
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (195,904) 3,146,405
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($1,913,653) $22,464,670
============================================================= ==================== ==================== ====================
107
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
California Conservation Edison ESI
Electric Power Financing
Company (Inactive) Corporation
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $27,004
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 27,004
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net 2,040
Other operation and maintenance $65 22,458
Depreciation, decommissioning and amortization 36
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 65 24,534
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (65) 2,470
Interest and dividend income 7,832 299
Other nonoperating income
Interest expense - net of amounts capitalized (22)
Other nonoperating deductions (22)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 7,723 2,769
Income taxes (benefit) 3,135 1,110
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 4,588 1,659
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 4,588 1,659
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 16,911 6,287
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $21,499 $7,946
=============================================================== ==================== ==================== ====================
108
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Material Mono Power Company SCE Capital Company
Supply LLC (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $316,671 $1
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 316,671 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 317,371 3 $4
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 317,371 3 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (700) (2) (4)
Interest and dividend income 1,291
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 591 (2) (4)
Income taxes (benefit) 1 (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 590 (2) 2
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 590 (2) 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (465) (2,168) (2,207)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $125 ($2,170) ($2,205)
=============================================================== ==================== ==================== ====================
109
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
SCE Funding LLC SCE Trust I SCE Trust II
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $105,372
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 105,372
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 4,197
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,197
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 101,175
Interest and dividend income 3,442
Other nonoperating income
Interest expense - net of amounts capitalized (105,604)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (987)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (987)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (987)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (9,688)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($10,675)
=============================================================== ==================== ==================== ====================
110
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
SCE UK Services Southern States ENvestSCE
Limited Realty
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $130 $4
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 130 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net ($2,666)
Other operation and maintenance 123 1 106
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 123 1 (2,560)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 7 3 2,560
Interest and dividend income 162
Other nonoperating income
Interest expense - net of amounts capitalized (162)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 7 3 2,560
Income taxes (benefit) 1,046
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 7 3 1,514
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 7 3 $1,514
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 18 92
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $25 $95
=============================================================== ==================== ==================== ====================
111
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Pipeline Edison Carrier Southern
and Terminal Solutions California Edison
Company Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $33,965 $24,535 $8,038,461
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 33,965 24,535 8,038,461
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 1,032 210,502
Purchased power 3,770,379
Provisions for regulatory adjustment clauses - net 3,699 (3,030,917)
Other operation and maintenance 9,261 19,076 1,717,534
Depreciation, decommissioning and amortization 3,025 677,139
Property and other taxes 140 1 111,599
Net gain on sale of utility plant (8,625)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 17,157 19,077 3,447,611
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 16,808 5,458 4,590,850
Interest and dividend income 213 203,141
Other nonoperating income 56,897
Interest expense - net of amounts capitalized (785,748)
Other nonoperating deductions (38,470)
Dividends on preferred securities
Dividends on utility preferred stock (22,449)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 17,021 5,458 4,004,221
Income taxes (benefit) 4,771 (422) 1,648,398
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 12,250 5,880 2,355,823
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) $12,250 $5,880 2,355,823
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,721,599)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $634,224
=============================================================== ==================== ==================== ====================
112
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating Southern
Adjustments California Edison
Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility ($420,328) $8,125,815
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (420,328) 8,125,815
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 211,534
Purchased power 3,770,379
Provisions for regulatory adjustment clauses - net (3,027,844)
Other operation and maintenance (319,144) 1,771,055
Depreciation, decommissioning and amortization 680,200
Property and other taxes 111,740
Net gain on sale of utility plant (8,625)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (319,144) 3,508,439
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (101,184) 4,617,376
Interest and dividend income (1,313) 215,067
Other nonoperating income 56,897
Interest expense - net of amounts capitalized 106,678 (784,858)
Other nonoperating deductions (38,492)
Dividends on preferred securities
Dividends on utility preferred stock (22,449)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,181 4,043,541
Income taxes (benefit) 1,658,033
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,385,508
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 4,181 2,385,508
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (8,780) (1,721,599)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $15,176 $664,040
=============================================================== ==================== ==================== ====================
113
Southern California Edison Company and Subsidiaries
Equity Investments
December 31, 2001
(In thousands)
Bear Creek Uranium
Name of Entity: Company (inactive)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets
Revenues
Net Income (Loss)
Nature/Purpose of Business: To develop and operate an
integrated uranium mining
complex in Wyoming.
Ownership Interest(s): 50% by Mono Power Company
114
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Ventures Edison TransEnergy Consolidating
Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $7
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net 3
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments 2,406
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,406
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,416
============================================================= ==================== ==================== ====================
115
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Ventures
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $7
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net 3
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments 2,406
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,406
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,416
============================================================= ==================== ==================== ====================
116
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Ventures Edison TransEnergy Consolidating
Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $25
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 25
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 2,406
Accumulated other comprehensive income (loss)
Retained earnings (15)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,391
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,416
============================================================= ==================== ==================== ====================
117
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Ventures
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $25
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 25
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 2,406
Accumulated other comprehensive income (loss)
Retained earnings (15)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,391
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,416
============================================================= ==================== ==================== ====================
118
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Ventures Edison TransEnergy Consolidating
Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $4
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4)
Income taxes (benefit) (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (12)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($15)
=============================================================== ==================== ==================== ====================
119
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Ventures
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $4
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4)
Income taxes (benefit) (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (12)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($15)
=============================================================== ==================== ==================== ====================
120
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
The Mission Group Edison Capital Edison Enterprises
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $426 $147,453 $170
Receivables - net 10,237 753,444 2,533
Fuel inventory
Materials and supplies, at average cost 153
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 48 2,886 201
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10,711 903,783 3,057
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 4,142 674
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 10,000 407,487 5,349
Investments in leveraged leases 2,385,699
Other investments 3,152,488
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 3,162,488 2,797,328 6,023
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 872 435
Regulatory assets - net
Other deferred charges 820,716 34,103 947
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 820,716 34,975 1,382
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 96,961
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $3,993,915 $3,736,086 $107,423
============================================================= ==================== ==================== ====================
121
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Edison OandM Edison Technology
Environmental Services Solutions
Services Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $2,579 $5,857
Receivables - net 46,808 1,242
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1,330
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 50,717 7,099
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,848
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,848
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 1,997 1,069
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,997 1,069
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $59,562 $8,168
============================================================= ==================== ==================== ====================
122
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission Land Mission Power
Holding Company Company Engineering
Consolidated Consolidated Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $373,081 $3,754
Receivables - net 578,786 15,038
Fuel inventory 110,124
Materials and supplies, at average cost 57,282
Accumulated deferred income taxes - net
Trading and price risk management assets 64,729
Prepayments and other current assets 80,542 (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,264,544 18,790
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,237,563 3,742
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,829,940
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,067,503 3,742
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 631,735
Regulatory assets - net
Other deferred charges 935,276 3,798 $5
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,567,011 3,798 5
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 153,610
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $11,052,668 $26,330 $5
============================================================= ==================== ==================== ====================
123
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating The Mission Group
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $533,320
Receivables - net ($10,393) 1,397,695
Fuel inventory 110,124
Materials and supplies, at average cost 57,435
Accumulated deferred income taxes - net
Trading and price risk management assets 64,729
Prepayments and other current assets 85,005
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (10,393) 2,248,308
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,252,969
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 2,252,776
Investments in leveraged leases 2,385,699
Other investments (3,152,488)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (3,152,488) 10,891,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 633,042
Regulatory assets - net
Other deferred charges (15,080) 1,782,831
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (15,080) 2,415,873
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 250,571
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($3,177,961) $15,806,196
============================================================= ==================== ==================== ====================
124
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
The Mission Group Edison Capital Edison Enterprises
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $150,000
Long-term debt classified as due within one year 162,312
Preferred stock to be redeemed within one year
Accounts payable $54 11,985 $359
Accrued taxes 15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 206 57,659 222
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 260 381,956 596
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 434,543
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,317 2,084,053
Accumulated deferred investment tax credits
Customer advances and other deferred credits 924 68,689
Power-purchase contracts
Accumulated provision for pension and benefits 14,254
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 2,241 2,166,996
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 15,213
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 147,866
Additional paid-in capital 3,300,435 81,164 392,601
Accumulated other comprehensive income (loss) (3,892) 17
Retained earnings 543,113 675,319 (301,004)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,991,414 752,591 91,614
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $3,993,915 $3,736,086 $107,423
============================================================= ==================== ==================== ====================
125
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Edison OandM Edison Technology
Environmental Services Solutions
Services Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $3,160 $1,721
Accrued taxes 121
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 5,836 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 9,117 1,900
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,266
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,266
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 49,874 9,946
Accumulated other comprehensive income (loss)
Retained earnings 571 (4,944)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 50,445 5,002
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $59,562 $8,168
============================================================= ==================== ==================== ====================
126
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission Land Mission Power
Holding Company Company Engineering
Consolidated Consolidated Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $168,241
Long-term debt classified as due within one year 190,295
Preferred stock to be redeemed within one year
Accounts payable 176,121 $1,529
Accrued taxes 17,603 (152)
Regulatory liabilities - net
Trading and price risk management liabilities 23,681
Other current liabilities 400,485 917 $150
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 976,426 2,294 150
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 6,864,841
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 917,730
Accumulated deferred investment tax credits 18,866
Customer advances and other deferred credits 864,733 1,071
Power-purchase contracts
Accumulated provision for pension and benefits 39,331 3,526
Other long-term liabilities 8,709
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,840,660 4,597 8,709
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 344,092
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 150,000
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 253,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 64,130 3,000
Additional paid-in capital 2,184,495 20,493
Accumulated other comprehensive income (loss) (302,627)
Retained earnings (1,229,144) (1,054) (11,854)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 716,854 19,439 (8,854)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $11,052,668 $26,330 $5
============================================================= ==================== ==================== ====================
127
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating The Mission Group
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $318,241
Long-term debt classified as due within one year 352,607
Preferred stock to be redeemed within one year
Accounts payable ($10,394) 184,535
Accrued taxes 17,587
Regulatory liabilities - net
Trading and price risk management liabilities 23,681
Other current liabilities 465,654
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,394) 1,362,305
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 7,299,384
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (6,370) 2,997,996
Accumulated deferred investment tax credits 18,866
Customer advances and other deferred credits 935,417
Power-purchase contracts
Accumulated provision for pension and benefits 57,111
Other long-term liabilities (8,709)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (15,079) 4,009,390
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 71,058
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 344,092
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 150,000
Other preferred securities 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 253,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (67,130) 147,866
Additional paid-in capital (2,738,573) 3,300,435
Accumulated other comprehensive income (loss) (306,502)
Retained earnings (346,785) (675,782)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (3,152,488) 2,466,017
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($3,177,961) $15,806,196
============================================================= ==================== ==================== ====================
128
The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
The Mission Group Edison Capital Edison Enterprises
Consolidated Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $201,649 $5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 201,649 5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $534 48,836 4,905
Depreciation, decommissioning and amortization 16,930 655
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 534 65,766 5,560
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (534) 135,883 (519)
Interest and dividend income 16 19,152
Other nonoperating income (30,604)
Interest expense - net of amounts capitalized (64,172)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (518) 60,259 (519)
Income taxes (benefit) (392) (23,754) (202)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (126) 84,013 (317)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (210,315)
Income taxes (benefit) on discontinued operations (77,660)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (126) 84,013 (132,972)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 475,868 591,306 (168,032)
Dividends declared on common stock 67,371
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $543,113 $675,319 ($301,004)
=============================================================== ==================== ==================== ====================
129
The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Edison OandM Edison Technology
Environmental Services Solutions
Services Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $68,343
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 68,343
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 65,723 $21
Depreciation, decommissioning and amortization 1,407
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 67,130 21
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 1,213 (21)
Interest and dividend income 1,319 24
Other nonoperating income (1,525)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 1,007 3
Income taxes (benefit) 436 95
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 571 (92)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 571 (92)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (4,852)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $571 ($4,944)
=============================================================== ==================== ==================== ====================
130
The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Mission Land Mission Power
Holding Company Company Engineering
Consolidated Consolidated Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,967,188
Financial services and other $73,707
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,967,188 73,707
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,050,695 73,136
Depreciation, decommissioning and amortization 272,938 109
Property and other taxes 512 1,238
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2,240,993 74,483
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 726,195 (776)
Interest and dividend income 47,757 909
Other nonoperating income 43,832 1
Interest expense - net of amounts capitalized (629,695)
Other nonoperating deductions (22,157)
Dividends on preferred securities (22,271)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 143,661 134
Income taxes (benefit) 79,043 891 $6
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 64,618 (757) (6)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (2,012,228)
Income taxes (benefit) on discontinued operations (777,958)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,169,652) (757) (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 401,396 (292) (11,848)
Dividends declared on common stock (460,888) (5)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,229,144) ($1,054) ($11,854)
=============================================================== ==================== ==================== ====================
131
The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating The Mission Group
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $668 $2,967,856
Financial services and other (1,209) 347,531
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (541) 3,315,387
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,243,850
Depreciation, decommissioning and amortization 292,039
Property and other taxes 1,750
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2,454,487
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (541) 860,900
Interest and dividend income (723) 68,454
Other nonoperating income 11,704
Interest expense - net of amounts capitalized 1,932 (691,935)
Other nonoperating deductions (22,157)
Dividends on preferred securities (22,271)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 668 204,695
Income taxes (benefit) 56,123
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 668 148,572
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (2,222,543)
Income taxes (benefit) on discontinued operations (855,618)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 668 (1,218,353)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (575,970) 707,576
Dividends declared on common stock 228,517 (165,005)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($346,785) ($675,782)
=============================================================== ==================== ==================== ====================
132
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Sold 8/1/01
Edison Enterprises Edison Source Edison Select
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $170
Receivables - net 2,533
Fuel inventory
Materials and supplies, at average cost 153
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 201
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3,057
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 674
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,349
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,349 674
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 435
Regulatory assets - net
Other deferred charges 504
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 939
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 53,729
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $59,078 $4,670
============================================================= ==================== ==================== ====================
133
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Sold Jan 2001
Edison Utility Consolidating Edison Enterprises
Services Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $170
Receivables - net 2,533
Fuel inventory
Materials and supplies, at average cost 153
Accumulated deferred income taxes - net
Trading and risk management assets
Prepayments and other current assets 201
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3,057
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 674
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 5,349
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,023
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 435
Regulatory assets - net
Other deferred charges $443 947
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 443 1,382
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 43,232 96,961
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $43,675 $107,423
============================================================= ==================== ==================== ====================
134
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Sold 8/1/01
Edison Enterprises Edison Source Edison Select
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $87 $272
Accrued taxes 15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 222
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 87 509
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (30,597) (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (30,597) (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 390,502 105,642
Accumulated other comprehensive income (loss) 17
Retained earnings (300,916) (86,398)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 89,586 19,261
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $59,076 $4,670
============================================================= ==================== ==================== ====================
135
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Sold Jan 2001
Edison Utility Consolidating Edison Enterprises
Services Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $359
Accrued taxes 15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 222
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 596
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities $60,910 15,213
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 60,910 15,213
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (103,543) 392,601
Accumulated other comprehensive income (loss) 17
Retained earnings 86,310 (301,004)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (17,233) 91,614
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $43,677 $107,423
============================================================= ==================== ==================== ====================
136
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Sold 8/1/01
Edison Enterprises Edison Source Edison Select
Consolidated Consolidated
--------------------------------------------------------------- ------------------- --------------------- --------------------
--------------------------------------------------------------- ------------------- --------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other ($317) $5,041
--------------------------------------------------------------- ------------------- --------------------- --------------------
Total operating revenue (317) 5,041
--------------------------------------------------------------- ------------------- --------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 4,905
Depreciation, decommissioning and amortization 655
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- ------------------- --------------------- --------------------
Total operating expenses 5,560
--------------------------------------------------------------- ------------------- --------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- ------------------- --------------------- --------------------
Income (loss) from continuing operations before taxes (317) (519)
Income taxes (benefit) (202)
--------------------------------------------------------------- ------------------- --------------------- --------------------
Income (loss) from continuing operations (317) (317)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (210,315) (32,796) ($7,290)
Income taxes (benefit) on discontinued operations (77,660)
--------------------------------------------------------------- ------------------- --------------------- --------------------
Net income (loss) (132,972) (33,113) ($7,290)
--------------------------------------------------------------- ------------------- --------------------- --------------------
Retained earnings - beginning of year (167,944) (53,285)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- ------------------- --------------------- --------------------
Retained earnings - end of year ($300,916) ($86,398)
=============================================================== =================== ===================== ====================
137
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Sold Jan 2001
Edison Utility Consolidating Edison Enterprises
Services Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $317 $5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 317 5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 4,905
Depreciation, decommissioning and amortization 655
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 5,560
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 317 (519)
Income taxes (benefit) (202)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 317 (317)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) ($10) 40,096 (210,315)
Income taxes (benefit) on discontinued operations (77,660)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) ($10) 40,413 (132,972)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 53,197 (168,032)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $93,610 ($301,004)
=============================================================== ==================== ==================== ====================
138
Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
(Liquidation
dividend
Inactive as of
10/18/01)
Edison Source Edison Source G.H.V.
Norvik Company Refrigeration, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $143 $27
Receivables - net 3,429 155
Fuel inventory
Materials and supplies, at average cost 60 93
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 6 195
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3,638 470
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 613 61
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 10
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 623 61
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 435
Regulatory assets - net
Other deferred charges 68 436
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 503 436
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $4,764 $967
============================================================= ==================== ==================== ====================
139
Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Edison Source
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $170
Receivables - net ($1,051) 2,533
Fuel inventory
Materials and supplies, at average cost 153
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 201
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (1,051) 3,057
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 674
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (10)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (10) 674
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 435
Regulatory assets - net
Other deferred charges 504
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 939
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($1,051) $4,670
============================================================= ==================== ==================== ====================
140
Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
(Liquidation dividend
Inactive as of 10/18/01)
Edison Source Edison Source G.H.V.
Norvik Company Refrigeration, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $217 $1,116 ($10)
Accrued taxes 15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 144 78
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 376 1,194 (10)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 10
Additional paid-in capital 105,642
Accumulated other comprehensive income (loss) 17
Retained earnings (86,154) (244)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 19,488 (227) $10
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $4,764 $967
============================================================= ==================== ==================== ====================
141
Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Edison Source
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,051) $272
Accrued taxes 15
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 222
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,051) 509
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (15,100)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (10)
Additional paid-in capital 105,642
Accumulated other comprehensive income (loss) 17
Retained earnings (86,398)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (10) 19,261
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($1,061) $4,670
============================================================= ==================== ==================== ====================
142
Edison Source and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
(Liquidation dividend
Inactive as of 10/18/01)
Edison Source Edison Source G.H.V.
Norvik Company Refrigeration, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $5,041 $2,451
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,041 2,451
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 4,725 2,631
Depreciation, decommissioning and amortization 580 75
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 5,305 2,706
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (264) (255)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (264) (255)
Income taxes (benefit) 103 99
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (161) (156)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (30,370) ($2,426)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (30,531) (156) (2,426)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 12,024 (65,309)
Dividends declared on common stock (67,647) (88) $67,735
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($86,154) ($244)
=============================================================== ==================== ==================== ====================
143
Edison Source and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating Edison Source
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other ($2,451) $5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (2,451) 5,041
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (2,451) 4,905
Depreciation, decommissioning and amortization 655
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses ($2,451) 5,560
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (519)
Income taxes (benefit) (202)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (317)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (32,796)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (33,113)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (53,285)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($86,398)
=============================================================== ==================== ==================== ====================
144
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Select Edison Home Select Home
Protection Company Warranty Company
(Inactive) (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
145
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Security Valley Burglar and Consolidating
Corp. Fire Alarm Co., Adjustments
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
146
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Sold 8/1/01
Edison Select
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
147
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Select Edison Home Select Home
Protection Company Warranty Company
(Inactive) (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
148
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Security Valley Burglar and Consolidating
Corp. Fire Alarm Co., Adjustments
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
149
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Sold 8/1/01
Edison Select
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
150
Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Select Edison Home Select Home
Protection Company Warranty Company
(Inactive) (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) ($18,597) $2,191
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) ($18,597) $2,191
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
151
Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Security Valley Burglar and Consolidating
Corp. Fire Alarm Co., Adjustments
Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) $9,130 ($14)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) $9,130 ($14)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
152
Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Select
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) ($7,290)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) ($7,290)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
153
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Technology Edison EV Consolidating
Solutions Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
154
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Technology
Solutions
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $5,857
Receivables - net 1,242
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 7,099
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 1,069
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,069
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $8,168
============================================================= ==================== ==================== ====================
155
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Technology Edison EV Consolidating
Solutions Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
156
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Technology
Solutions
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,721
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,900
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,266
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,266
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 9,946
Accumulated other comprehensive income (loss)
Retained earnings (4,944)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,002
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $8,168
============================================================= ==================== ==================== ====================
157
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Technology Edison EV Consolidating
Solutions Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
158
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Technology
Solutions
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $21
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 21
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (21)
Interest and dividend income 24
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 3
Income taxes (benefit) 95
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (92)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (92)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (4,852)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,944)
=============================================================== ==================== ==================== ====================
159
Edison Technology Solutions and Subsidiaries
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: Facilichem, Inc.
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets
Revenues
Net Income (Loss)
Nature/Purpose of Business: Research, development and
commercialization of
liquid membrane
technologies
Ownership Interest(s): 10% by Edison Technology
Solutions with option to
increase interest to
16.66%
160
Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Mission Energy Consolidating
Energy Consolidated Holding Company Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $372,139 $942
Receivables - net 549,474 29,315 ($3)
Fuel inventory 110,124
Materials and supplies, at average cost 57,282
Accumulated deferred income taxes - net
Trading and price risk management assets 64,729
Prepayments and other current assets 80,542
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,234,290 30,257 (3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,237,563
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,829,940
Investments in leveraged leases
Other investments 2,999,352 (2,999,352)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,067,503 2,999,352 (2,999,352)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 631,735
Regulatory assets - net
Other deferred charges 642,887 292,389
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,274,622 292,389
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 153,610
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $10,730,025 $3,321,998 ($2,999,355)
============================================================= ==================== ==================== ====================
161
Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy
Holding Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $373,081
Receivables - net 578,786
Fuel inventory 110,124
Materials and supplies, at average cost 57,282
Accumulated deferred income taxes - net
Trading and price risk management assets 64,729
Prepayments and other current assets 80,542
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,264,544
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,237,563
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,829,940
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,067,503
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 631,735
Regulatory assets - net
Other deferred charges 935,276
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,567,011
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 153,610
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $11,052,668
============================================================= ==================== ==================== ====================
162
Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Mission Energy Consolidating
Energy Consolidated Holding Company Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $168,241
Long-term debt classified as due within one year 190,295
Preferred stock to be redeemed within one year
Accounts payable 175,769 $355 ($3)
Accrued taxes 17,603
Regulatory liabilities - net
Trading and price risk management liabilities 22,381 1,300
Other current liabilities 335,357 65,128
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 909,646 66,783 (3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 5,749,460 1,115,381
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 917,434 296
Accumulated deferred investment tax credits 18,866
Customer advances and other deferred credits 864,733
Power-purchase contracts
Accumulated provision for pension and benefits 39,331
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,840,364 296
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 344,092
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 150,000
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 253,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 64,130
Additional paid-in capital 2,631,326 2,552,521 (2,999,352)
Accumulated other comprehensive income (loss) (301,820) (807)
Retained earnings (816,968) (412,176)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,576,668 2,139,538 (2,999,352)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $10,730,025 $3,321,998 ($2,999,355)
============================================================= ==================== ==================== ====================
163
Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy
Holding Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $168,241
Long-term debt classified as due within one year 190,295
Preferred stock to be redeemed within one year
Accounts payable 176,121
Accrued taxes 17,603
Regulatory liabilities - net
Trading and price risk management liabilities 23,681
Other current liabilities 400,485
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 976,426
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 6,864,841
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 917,730
Accumulated deferred investment tax credits 18,866
Customer advances and other deferred credits 864,733
Power-purchase contracts
Accumulated provision for pension and benefits 39,331
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,840,660
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 344,092
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 150,000
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 253,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 64,130
Additional paid-in capital 2,184,495
Accumulated other comprehensive income (loss) (302,627)
Retained earnings (1,229,144)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 716,854
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $11,052,668
============================================================= ==================== ==================== ====================
164
Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Mission Energy Consolidating
Energy Consolidated Holding Company Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,967,188
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,967,188
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,050,593 $102
Depreciation, decommissioning and amortization 272,903 35
Property and other taxes 512
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2,240,856 137
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 726,332 (137)
Interest and dividend income 42,732 5,025
Other nonoperating income 43,832
Interest expense - net of amounts capitalized (547,493) (82,202)
Other nonoperating deductions (22,157)
Dividends on preferred securities (22,271)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 220,975 (77,314)
Income taxes (benefit) 107,569 (28,526)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 113,406 (48,788)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,234,270)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,120,864) (48,788)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 401,396
Dividends declared on common stock (97,500) (363,388)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($816,968) ($412,176)
=============================================================== ==================== ==================== ====================
165
Mission Energy Holding Company and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy
Holding Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $2,967,188
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,967,188
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,050,695
Depreciation, decommissioning and amortization 272,938
Property and other taxes 512
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2,240,993
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 726,195
Interest and dividend income 47,757
Other nonoperating income 43,832
Interest expense - net of amounts capitalized (629,695)
Other nonoperating deductions (22,157)
Dividends on preferred securities (22,271)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 143,661
Income taxes (benefit) 79,043
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 64,618
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,234,270)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,169,652)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 401,396
Dividends declared on common stock (460,888)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,229,144)
=============================================================== ==================== ==================== ====================
166
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Burlington Edison Capital Edison Capital
Apartments, Inc. Europe Limited Ventures
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $172
Receivables - net 409
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net ($184) $79
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (184) 581 79
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($184) $581 $79
============================================================= ==================== ==================== ====================
167
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Funding Edison Mortgage Mission Bartlett
Company Company Hill Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $147,275
Receivables - net 997,475
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net ($166)
Trading and price risk management assets
Prepayments and other current assets 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,144,751 (166)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,396
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 407,487
Investments in leveraged leases 2,385,699
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,796,582
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 872
Regulatory assets - net
Other deferred charges 22,538
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 23,410
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $3,964,743 ($166)
============================================================= ==================== ==================== ====================
168
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Renewable Energy Edison Capital
International Capital Company
Capital, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $6
Receivables - net $1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net 29,423
Trading and price risk management assets
Prepayments and other current assets 2,885
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1 32,314
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 746
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 127,169
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 127,915
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 11,565
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1 $171,794
============================================================= ==================== ==================== ====================
169
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Edison Capital
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $147,453
Receivables - net ($273,593) 753,444
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 2,886
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (273,593) 903,783
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 4,142
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (127,169) 407,487
Investments in leveraged leases 2,385,699
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (127,169) 2,797,328
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 872
Regulatory assets - net
Other deferred charges 34,103
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 34,975
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($400,762) $3,736,086
============================================================= ==================== ==================== ====================
170
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Integrated Mission First
Housing Energy Services Asset Investment
Investments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $215
Receivables - net 259,278
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 259,494
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,396
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 408,399
Investments in leveraged leases 93
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 411,888
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 872
Regulatory assets - net
Other deferred charges 7,057
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,929
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $679,311
============================================================= ==================== ==================== ====================
171
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Funding Mission Funding Mission Funding
Beta Epsilon Gamma
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $64,926
Receivables - net $155,962 171,826 $71,242
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 155,962 236,752 71,242
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 511,636
Investments in leveraged leases 598,653 1,072,464 287,677
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 598,653 1,584,100 287,677
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 19
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 19
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $754,615 $1,820,871 $358,919
============================================================= ==================== ==================== ====================
172
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Funding Mission Funding Mission Iowa Wind
Kappa Zeta Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $76,493 $5,835 $34,291
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 76,493 5,835 34,291
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 30,583 84,892
Investments in leveraged leases 426,812
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 426,812 30,583 84,892
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $503,305 $36,418 $119,183
============================================================= ==================== ==================== ====================
173
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Funding Consolidating Edison Funding
Company Adjustments Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $82,134 $147,275
Receivables - net 222,753 ($205) 997,475
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 304,887 (205) 1,144,751
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,396
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,375,009 (2,003,032) 407,487
Investments in leveraged leases 2,385,699
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,375,009 (2,003,032) 2,796,582
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 872
Regulatory assets - net
Other deferred charges 15,462 22,538
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 15,462 23,410
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,695,358 ($2,003,237) $3,964,743
============================================================= ==================== ==================== ====================
174
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
East Coast EC Asset Services, EC Properties, Inc.
Capital, Inc. Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3 $32
Receivables - net 7 (2) $508
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 11 30 508
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $11 $30 $508
============================================================= ==================== ==================== ====================
175
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EC Properties III, EC-SLP, Inc. ECHI-A Company
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3 $24
Receivables - net 66 (5)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 69 19
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $69 $19
============================================================= ==================== ==================== ====================
176
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
ECHI-B Company ECHI Wyvernwood, ECHP Investment
Inc. Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
177
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 V 97 VI 97 VII
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
178
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 VIII 99A Company 99B Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
179
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Housing Delaware Housing Florida Housing Management
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $12 $685
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 12 685
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $11 $685
============================================================= ==================== ==================== ====================
180
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Housing New Jersey Housing New York Housing
Pennsylvania
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($1,214) $12 ($1,780)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (1,214) 12 (1,780)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 3,709 4,570 4,036
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 3,709 4,570 4,036
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,495 $4,582 $2,256
============================================================= ==================== ==================== ====================
181
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Housing Edison Housing Edison Housing
North Carolina Oregon, Inc. South Carolina
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($355) $75
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (355) 75
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 2,138 788
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,138 788
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,783 $863
============================================================= ==================== ==================== ====================
182
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EHI Development EHI Development MHICAL 94 Company
Company Fund
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($3) ($675) ($4,392)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (3) (675) (4,392)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 4,662 (1,210)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,662 (1,210)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($3) $3,987 ($5,602)
============================================================= ==================== ==================== ====================
183
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MHICAL 95 Company Edison Housing MHICAL 96 Company
Consolidation Co.
(6)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($6,758) $7,463 ($1,097)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (6,758) 7,463 (1,097)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,685) 14,587 2,446
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (1,685) 14,587 2,446
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($8,443) $22,050 $1,349
============================================================= ==================== ==================== ====================
184
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MHICAL 97 Company MHIFED 94 Company MHIFED 95 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1
Receivables - net $4,012 ($384) (2,137)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,012 (384) (2,136)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,620 1
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,620 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,632 ($383) ($2,136)
============================================================= ==================== ==================== ====================
185
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MHIFED 96 Company MHIFED 96A Company MHIFED 97 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($326) ($436) ($2)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (326) (436) (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($326) ($436) ($2)
============================================================= ==================== ==================== ====================
186
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Housing
Alpha Beta Delta
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($16) ($674) $2,499
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (16) (674) 2,499
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 303 148 (1,668)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 303 148 (1,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $287 ($526) $831
============================================================= ==================== ==================== ====================
187
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Housing
Denver Epsilon Gamma
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($490) ($86) ($497)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (490) (86) (497)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 484 142 335
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 484 142 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($6) $56 ($162)
============================================================= ==================== ==================== ====================
188
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Funding
Holdings Theta Theta [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($2,928) $916 ($2)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (2,928) 916 (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 2,952 198 (7)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,952 198 (7)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 21
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 21
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $24 $1,135 ($9)
============================================================= ==================== ==================== ====================
189
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Housing Mission SA Company
Zeta
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net ($1,735) ($36)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (1,735) (36)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 4,045
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,045
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,310 ($36)
============================================================= ==================== ==================== ====================
190
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Funding Edison Funding
Omicron Inc. Olive Court [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $76
Receivables - net $172,818 63
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 172,818 140
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,396
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 87,495
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 87,495 3,396
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 739
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 739
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $260,313 $4,275
============================================================= ==================== ==================== ====================
191
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Consolidating Edison Capital
Housing Investments Adjustments Housing
Investments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $75 $215
Receivables - net 96,172 259,278
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 96,247 259,494
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,396
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 278,311 408,399
Investments in leveraged leases 93 93
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 278,404 411,888
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 872 872
Regulatory assets - net
Other deferred charges 6,297 7,057
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,169 7,929
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $381,820 $679,311
============================================================= ==================== ==================== ====================
192
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital LAI Edison Capital
(Bermuda) (Bermuda) Ltd. [6] Latin American
Investments, Ltd. Investments
55 (Bermuda), Ltd. [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $63,913
Receivables - net 6,419
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 70,332
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 8,762
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,762
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $79,094
============================================================= ==================== ==================== ====================
193
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
International International Latin American
(Bermuda) Ltd. Transmission Investments
(Bermuda) Ltd. [6] Holding Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $604 $311
Receivables - net (519) (2,916)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 85 (2,605)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 33,111 118,067
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 33,111 118,067
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 8
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 8
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $33,204 $115,462
============================================================= ==================== ==================== ====================
194
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Mission Funding
(Netherlands) (Netherlands) Alpha
Holdings Company Investments B.V.
B.V. 110 [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $57 $4
Receivables - net (30) 2,048 $142,745
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 27 2,052 142,745
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 4,781
Investments in leveraged leases 719,206
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,781 719,206
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $4,808 $2,052 $861,951
============================================================= ==================== ==================== ====================
195
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Funding Mu Mission Funding Mission Funding Nu
[6] Delta [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $2,249 $114 $5,507
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2,249 114 5,507
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases 24,910 58,961
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 24,910 58,961
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $27,159 $114 $64,468
============================================================= ==================== ==================== ====================
196
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Mission (Bermuda) Mission Funding
Investments, Inc. Investments, Ltd. Epsilon
28
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $12 $25
Receivables - net (282) (309) $16,800
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (270) (284) 16,800
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 346,915
Investments in leveraged leases 269,387
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 616,302
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 11
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 11
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($270) ($284) $633,113
============================================================= ==================== ==================== ====================
197
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Mission Funding
Adjustments Epsilon
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $64,926
Receivables - net 171,826
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 236,752
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 511,636
Investments in leveraged leases 1,072,464
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,584,100
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 19
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 19
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,820,871
============================================================= ==================== ==================== ====================
198
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Burlington Edison Capital Edison Capital
Apartments, Inc. Europe Limited Ventures
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $5 $146 $202
Accrued taxes 50
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 86
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5 282 202
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 4 (11) 1
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (11) 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) (75)
Retained earnings (193) 385 (124)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (193) 310 (124)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($184) $581 $79
============================================================= ==================== ==================== ====================
199
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Funding Edison Mortgage Mission Bartlett
Company Company Hill Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $150,000
Long-term debt classified as due within one year 162,312
Preferred stock to be redeemed within one year
Accounts payable (159,863) ($954)
Accrued taxes 273,073
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 47,828
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 473,350 (954)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 434,543
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,088,032 11
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits 9,943
Other long-term liabilities 54,991
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 2,152,966 11
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 127,166
Additional paid-in capital
Accumulated other comprehensive income (loss) (3,817)
Retained earnings 780,535 777
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 903,884 777
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $3,964,743 ($166)
============================================================= ==================== ==================== ====================
200
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Renewable Energy Edison Capital
International Capital Company
Capital, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $16 ($115) $173,018
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 9,745
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16 (115) 182,763
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (3,984)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits 4,311
Other long-term liabilities 13,698
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 14,025
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 3 81,164
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (16) 113 (106,158)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($16) 116 (24,994)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1 $171,794
============================================================= ==================== ==================== ====================
201
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Edison Capital
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $150,000
Long-term debt classified as due within one year 162,312
Preferred stock to be redeemed within one year
Accounts payable ($470) 11,985
Accrued taxes (273,123)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 57,659
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (273,593) 381,956
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 434,543
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,084,053
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits 14,254
Other long-term liabilities 68,689
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 2,166,996
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (127,169) 81,164
Additional paid-in capital
Accumulated other comprehensive income (loss) (3,892)
Retained earnings 675,319
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (127,169) 752,591
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($400,762) $3,736,086
============================================================= ==================== ==================== ====================
202
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Integrated Mission First
Housing Energy Services Asset Investment
Investments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $9,013 $16 ($19,764)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 43,971
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 52,984 16 (19,764)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 3,862
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 60,735
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits 9,943
Other long-term liabilities 21,225
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 91,903
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 319,013 19,764
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 211,549 (16)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 530,562 ($16) $19,764
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $679,311
============================================================= ==================== ==================== ====================
203
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Funding Mission Funding Mission Funding
Beta Epsilon Gamma
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $10,106 ($589,307) ($1,786)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,106 (589,307) (1,786)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 583,557 998,183 258,615
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 583,557 998,183 258,615
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 115,373 1,225,214 75,295
Additional paid-in capital
Accumulated other comprehensive income (loss) (5)
Retained earnings 45,579 186,786 26,795
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 160,952 1,411,995 102,090
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $754,615 $1,820,871 $358,919
============================================================= ==================== ==================== ====================
204
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Funding Mission Funding Mission Iowa Wind
Kappa Zeta Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $188,854 ($50,247) ($22,557)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 188,854 (50,247) (22,557)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 131,364 30,748 37,186
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 131,364 30,748 37,186
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 115,508 40,365 92,500
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 67,579 15,552 12,054
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 183,087 55,917 104,554
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $503,305 $36,418 $119,183
============================================================= ==================== ==================== ====================
205
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Funding Consolidating Edison Funding
Company Adjustments Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $150,000 $150,000
Long-term debt classified as due within one year 162,312 162,312
Preferred stock to be redeemed within one year
Accounts payable 316,014 ($205) (159,863)
Accrued taxes 273,073 273,073
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,857 47,828
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 905,256 (205) 473,350
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 430,681 434,543
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (12,356) 2,088,032
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits 9,943
Other long-term liabilities 33,766 54,991
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 21,410 2,152,966
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 127,166 (2,003,032) 127,166
Additional paid-in capital
Accumulated other comprehensive income (loss) (3,812) (3,817)
Retained earnings 214,657 780,535
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 338,011 (2,003,032) 903,884
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,695,358 ($2,003,237) $3,964,743
============================================================= ==================== ==================== ====================
206
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
East Coast EC Asset Services, EC Properties, Inc.
Capital, Inc. Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($356) ($613) ($276)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (356) (613) (276)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16 17 23
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 16 17 23
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 242 58 31
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 109 568 730
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 351 626 761
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $11 $30 $508
============================================================= ==================== ==================== ====================
207
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EC Properties III, EC-SLP, Inc. ECHI-A Company
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($17) $34
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (17) 34
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 6
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 6
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 78 (15)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 80 (15)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $69 $19
============================================================= ==================== ==================== ====================
208
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
ECHIB Company ECHI Wyvernwood, ECHP Investment
Inc. Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
209
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 V 97 VI 97 VII
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
210
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 VIII 99A Company 99B Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
211
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Housing Delaware Housing Florida Housing Management
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $22 $13 ($4,488)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 22 13 (4,488)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1 (382)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1 (382)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2 3,772
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (14) (13) 1,783
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (12) ($13) 5,555
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $11 $685
============================================================= ==================== ==================== ====================
212
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Housing New Jersey Housing New York Housing
Pennsylvania
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($6,401) $57 ($6,394)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,070
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (6,401) 3,127 (6,394)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (145) 189
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (145) 189
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 9,248 1,500 9,325
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (207) (45) (864)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 9,041 1,455 8,461
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,495 $4,582 $2,256
============================================================= ==================== ==================== ====================
213
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Housing Edison Housing Edison Housing
North Carolina Oregon, Inc. South Carolina
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,310) $12 ($1,688)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,310) 12 (1,688)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 189 184
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 189 184
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2,144 2,066
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 760 (12) 301
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,904 ($12) 2,367
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,783 $863
============================================================= ==================== ==================== ====================
214
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EHI Development EHI Development MHICAL 94 Company
Company Fund
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,091) ($952) ($45,788)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,091) (952) (45,788)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,534) (443)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (1,534) (443)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,001 5,000 30,581
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 87 1,473 10,048
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,088 6,473 40,629
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($3) $3,987 ($5,602)
============================================================= ==================== ==================== ====================
215
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MHICAL 95 Company Edison Housing MHICAL 96 Company
Consolidation Co.
(6)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($62,284) ($445) ($37,372)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (62,284) (445) (37,372)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (655) 1,484
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (655) 1,484
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 44,132 14,578 25,926
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 10,364 7,917 11,311
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 54,496 22,495 37,237
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($8,443) $22,050 $1,349
============================================================= ==================== ==================== ====================
216
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MHICAL 97 Company MHIFED 94 Company MHIFED 95 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($7,340) ($26,906) ($18,369)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,340) (26,906) (18,369)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,419 327 2,181
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,419 327 2,181
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 3,906 20,040 8,662
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 7,647 6,156 5,390
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 11,553 26,196 14,052
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,632 ($383) ($2,136)
============================================================= ==================== ==================== ====================
217
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MHIFED 96 Company MHIFED 96A Company MHIFED 97 Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,485) ($15,621) $7
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,485) (15,621) 7
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 88 128
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 88 128
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,127 13,766
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (56) 1,291 (9)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,071 15,057 (9)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($326) ($436) ($2)
============================================================= ==================== ==================== ====================
218
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Housing
Alpha Beta Delta
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($4,377) ($7,538) ($14,857)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (4,377) (7,538) (14,857)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,191 145 280
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,191 145 280
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 3,264 4,460 10,110
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 209 2,407 5,298
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,473 6,867 15,408
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $287 ($526) $831
============================================================= ==================== ==================== ====================
219
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Housing
Denver Epsilon Gamma
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($10,590) ($1,282) ($5,287)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,590) (1,282) (5,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (94) (58) (34)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (94) (58) (34)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 7,925 1,161 3,340
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 2,753 235 1,819
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 10,678 1,396 5,159
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($6) $56 ($162)
============================================================= ==================== ==================== ====================
220
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Funding
Holdings Theta Theta [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($20,615) ($1,316) ($12)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (20,615) (1,316) (12)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (462) (2)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (462) (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 17,570 1,207 27
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 3,531 1,246 (24)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 21,101 2,453 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $24 $1,135 ($9)
============================================================= ==================== ==================== ====================
221
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Housing Mission SA Company
Zeta
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($10,792) ($21)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,792) (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (123) 40
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (123) 40
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 12,754 54
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 471 (109)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 13,225 (55)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,310 ($36)
============================================================= ==================== ==================== ====================
222
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Funding Edison Funding
Omicron Inc. Olive Court [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $122,610 $53
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 330 382
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 122,940 435
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 3,862
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 18,260 (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 18,260 (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 12,724
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 106,389 (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 119,113 (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $260,313 $4,275
============================================================= ==================== ==================== ====================
223
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Consolidating Edison Capital
Housing Investments Adjustments Housing
Investments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $202,088 $9,013
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 50,132 ($9,943) 43,971
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 252,220 (9,943) 52,984
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 3,862
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 38,500 60,735
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits 9,943 9,943
Other long-term liabilities 21,225 21,225
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 59,725 $9,943 91,903
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 47,308 319,013
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 22,567 211,549
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 69,875 530,562
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $381,820 $679,311
============================================================= ==================== ==================== ====================
224
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital LAI Edison Capital
(Bermuda) (Bermuda) Ltd. [6] Latin American
Investments, Ltd. Investments
(Bermuda), Ltd. [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $79,582
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 79,582
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 126
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 126
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 6,723
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (7,337)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (614)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $79,094
============================================================= ==================== ==================== ====================
225
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
International International Latin American
(Bermuda) Ltd. Transmission Investments
(Bermuda) Ltd. [6] Holding Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,964 ($11,525)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,964 (11,525)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 27
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 27
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 29,384 124,425
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 1,856 2,535
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 31,240 126,960
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $33,204 $115,462
============================================================= ==================== ==================== ====================
226
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Capital Edison Capital Mission Funding
(Netherlands) (Netherlands) Alpha
Holdings Company Investments B.V.
B.V. [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $205 ($23,154)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 205 (23,154)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (13) ($156) 675,563
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (13) (156) 675,563
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 4,781 4,781 157,652
Additional paid-in capital
Accumulated other comprehensive income (loss) (5)
Retained earnings (165) (2,568) 51,890
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 4,616 2,208 209,542
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $4,808 $2,052 $861,951
============================================================= ==================== ==================== ====================
227
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Funding Mu Mission Funding Mission Funding Nu
[6] Delta [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($12,101) ($19,847) ($26,235)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (12,101) (19,847) (26,235)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 14,964 (4) 38,785
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 14,964 (4) 38,785
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 14,750 13,880 33,188
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 9,546 6,085 18,730
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 24,296 19,965 51,918
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $27,159 $114 $64,468
============================================================= ==================== ==================== ====================
228
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Mission (Bermuda) Mission Funding
Investments, Inc. Investments, Ltd. Epsilon
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $605 ($692) ($578,109)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 604 (692) (578,109)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2,148) (2,131) 273,170
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2,148) (2,131) 273,170
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 25 1,174 834,451
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 1,248 1,365 103,601
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,273 2,539 938,052
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($270) ($284) $633,113
============================================================= ==================== ==================== ====================
229
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Mission Funding
Adjustments Epsilon
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($589,307)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (589,307)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 998,183
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 998,183
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,225,214
Additional paid-in capital
Accumulated other comprehensive income (loss) (5)
Retained earnings 186,786
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,411,995
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,820,871
============================================================= ==================== ==================== ====================
230
Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Burlington Edison Capital Edison Capital
Apartments, Inc. Europe Limited Ventures
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $1 $1,875
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1 1,875
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 55 1,640
Depreciation, decommissioning and amortization 78
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 55 1,718
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (54) 157
Interest and dividend income 4 7
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (50) 164
Income taxes (benefit) (20) 96 $2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (30) 68 (2)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (30) 68 (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (163) 317 (122)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($193) $385 ($124)
=============================================================== ==================== ==================== ====================
231
Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Funding Edison Mortgage Mission Bartlett
Company Company Hill Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $201,398
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 201,398
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 23,990 $3
Depreciation, decommissioning and amortization 12,400
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 36,390 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 165,008 (7)
Interest and dividend income 19,027
Other nonoperating income (30,604)
Interest expense - net of amounts capitalized (64,171)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 89,260 (10)
Income taxes (benefit) (12,702) (11)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 101,962 1
Income (loss) from discontinued operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 101,962 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 678,573 776
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $780,535 $777
=============================================================== ==================== ==================== ====================
232
Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Renewable Energy Edison Capital
International Capital Company
Capital, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $412
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 412
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $3 25,182
Depreciation, decommissioning and amortization 4,452
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 29,634
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (3) (29,222)
Interest and dividend income 121
Other nonoperating income
Interest expense - net of amounts capitalized (1)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (3) (29,102)
Income taxes (benefit) (1) $1 (11,119)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (2) (1) (17,983)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (2) (1) (17,983)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (14) 114 (88,175)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($16) $113 ($106,158)
=============================================================== ==================== ==================== ====================
233
Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Consolidating Edison Capital
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other ($2,037) $201,649
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (2,037) 201,649
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (2,037) 48,836
Depreciation, decommissioning and amortization 16,930
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (2,037) 65,766
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 135,883
Interest and dividend income 19,152
Other nonoperating income (30,604)
Interest expense - net of amounts capitalized (64,172)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 60,259
Income taxes (benefit) (23,754)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 84,013
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 84,013
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (658) 590,648
Dividends declared on common stock $658 658
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $675,319
=============================================================== ==================== ==================== ====================
234
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Edison Integrated Mission First
Housing Energy Services Asset Investment
Investments
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $54,212
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 54,212
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 20,064 $3 $2
Depreciation, decommissioning and amortization 8,205
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 28,268 3 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 25,944 (3) (2)
Interest and dividend income 561
Other nonoperating income (30,604)
Interest expense - net of amounts capitalized (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4,102) (3) (2)
Income taxes (benefit) (54,316)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 50,214 (3) (2)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 50,214 (3) (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 161,335 (13) $2
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $211,549 ($16)
=============================================================== ==================== ==================== ====================
235
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Funding Mission Funding Mission Funding
Beta Epsilon Gamma
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $23,419 $25,315 $16,708
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 23,419 25,315 16,708
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (463) 217 3
Depreciation, decommissioning and amortization 3
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (463) 220 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 23,882 25,095 16,705
Interest and dividend income 14,544
Other nonoperating income
Interest expense - net of amounts capitalized (3,286)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 23,882 36,353 16,705
Income taxes (benefit) 9,474 25,647 6,168
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 10,706 10,537
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 14,408 10,706 10,537
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 31,171 176,080 16,258
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $45,579 $186,786 $26,795
=============================================================== ==================== ==================== ====================
236
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Funding Mission Funding Mission Iowa Wind
Kappa Zeta Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $68,069 ($582) ($838)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 68,069 (582) (838)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (694) 3 3
Depreciation, decommissioning and amortization 1,016 284
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (694) 1,019 287
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 68,763 (1,601) (1,125)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 68,763 (1,601) (1,125)
Income taxes (benefit) 27,190 (2,187) (4,945)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 41,573 586 3,820
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 41,573 586 3,820
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 26,006 14,966 8,234
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $67,579 $15,552 $12,054
=============================================================== ==================== ==================== ====================
237
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Funding Consolidating Edison Funding
Company Adjustments Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $15,095 $201,398
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 15,095 201,398
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 4,853 23,990
Depreciation, decommissioning and amortization 2,892 12,400
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,745 36,390
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 7,350 165,008
Interest and dividend income 3,922 19,027
Other nonoperating income (30,604)
Interest expense - net of amounts capitalized (60,882) (64,171)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (49,610) 89,260
Income taxes (benefit) (19,733) (12,702)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (29,877) 101,962
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (29,877) 101,962
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 244,534 678,573
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $214,657 $780,535
=============================================================== ==================== ==================== ====================
238
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
East Coast EC Asset Services, EC Properties, Inc.
Capital, Inc. Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $83
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 83
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses $7 $1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (7) 83 (1)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (7) 83 (1)
Income taxes (benefit) (3) 30 (140)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4) 53 139
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4) 53 139
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 113 515 591
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $109 $568 $730
=============================================================== ==================== ==================== ====================
239
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
EC Properties III, EC-SLP, Inc. ECHI-A Company
Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $1 $1
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (1) (1)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (1) (1)
Income taxes (benefit) (26)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 25 (1)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 25 (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 53 (14)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $78 ($15)
=============================================================== ==================== ==================== ====================
240
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
ECHI-B Company ECHI Wyvernwood, ECHP Investment
Inc. Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
241
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 V 97 VI 97 VII
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
242
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 VIII 99A Company 99B Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
243
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
Housing Delaware Housing Florida Housing Management
Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other ($5,379)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (5,379)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $3 $2 2
Depreciation, decommissioning and amortization 111
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 2 113
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (3) (2) (5,492)
Interest and dividend income
Other nonoperating income (11)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (14) (2) (5,492)
Income taxes (benefit) (6) (798)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (8) (2) (4,694)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (8) (2) (4,694)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (6) (11) 6,477
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($14) ($13) $1,783
=============================================================== ==================== ==================== ====================
244
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Housing
Housing New Jersey Housing New York Pennsylvania
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $3 $2 $3
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 2 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (3) (2) (3)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (3) (2) (3)
Income taxes (benefit) 608 8 519
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (611) (10) (522)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (611) (10) (522)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 404 (35) (342)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($207) ($45) ($864)
=============================================================== ==================== ==================== ====================
245
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Housing Edison Housing Edison Housing
North Carolina Oregon, Inc. South Carolina
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $3 $2 $2
Depreciation, decommissioning and amortization (5) (6)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (2) 2 (4)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2 (2)
Interest and dividend income
Other nonoperating income (14) (17)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (12) (2) (13)
Income taxes (benefit) (47) (49)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 35 (2) 36
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 35 (2) 36
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 725 (10) 265
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $760 ($12) $301
=============================================================== ==================== ==================== ====================
246
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
EHI Development EHI Development MHICAL 94 Company
Company Fund
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $16
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 16
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $2 185 $2
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2 185 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (2) (169) (2)
Interest and dividend income 448 20
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2) 279 18
Income taxes (benefit) 125 1,916
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (2) 154 (1,898)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (2) 154 (1,898)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 89 1,319 11,946
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $87 $1,473 $10,048
=============================================================== ==================== ==================== ====================
247
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
MHICAL 95 Company Edison Housing MHICAL 96 Company
Consolidation Co.
[6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $3 $2 $2
Depreciation, decommissioning and amortization (33) (366)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (30) 2 (364)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 30 (2) 364
Interest and dividend income
Other nonoperating income 128 (348)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 158 (2) 16
Income taxes (benefit) 2,871 2,330
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (2,713) (2) (2,314)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (2,713) (2) (2,314)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 13,077 7,919 13,625
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $10,364 $7,917 $11,311
=============================================================== ==================== ==================== ====================
248
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
MHICAL 97 Company MHIFED 94 Company MHIFED 95 Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $50 $50
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 50 50
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $2 (42) (95)
Depreciation, decommissioning and amortization 91
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 93 (42) (95)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (93) 92 145
Interest and dividend income
Other nonoperating income (963)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (1,056) 92 145
Income taxes (benefit) (933) 37 57
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (123) 55 88
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (123) 55 88
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 7,770 6,101 5,302
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $7,647 $6,156 $5,390
=============================================================== ==================== ==================== ====================
249
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
MHIFED 96 Company MHIFED 96A Company MHIFED 97 Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $1
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (1)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized 1
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2)
Income taxes (benefit) $1 $1 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (1) (1) (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1) (1) (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (55) 1,292 (6)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($56) $1,291 ($9)
=============================================================== ==================== ==================== ====================
250
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Housing
Alpha Beta Delta
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $3 $3 $3
Depreciation, decommissioning and amortization 17
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 20 3 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (20) (3) (3)
Interest and dividend income
Other nonoperating income 137 (2,085)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 117 (3) (2,088)
Income taxes (benefit) 70 255 (1,033)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 47 (258) (1,055)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 47 (258) (1,055)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 162 2,665 6,353
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $209 $2,407 $5,298
=============================================================== ==================== ==================== ====================
251
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Housing
Denver Epsilon Gamma
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $3 $3 $13
Depreciation, decommissioning and amortization 3
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 6 13
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (3) (6) (13)
Interest and dividend income
Other nonoperating income 22
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (3) 16 (13)
Income taxes (benefit) 5 57 167
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (8) (41) (180)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (8) (41) (180)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 2,761 276 1,999
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,753 $235 $1,819
=============================================================== ==================== ==================== ====================
252
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Housing Mission Housing Mission Funding
Holdings Theta Theta [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $7
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 7
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $2 3 $3
Depreciation, decommissioning and amortization (159)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2 (156) 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (2) 163 (3)
Interest and dividend income
Other nonoperating income (467)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2) (304) (3)
Income taxes (benefit) 1,294 (613) (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (1,296) 309 (2)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,296) 309 (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 4,827 937 (22)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $3,531 $1,246 ($24)
=============================================================== ==================== ==================== ====================
253
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Housing Mission SA Company
Zeta
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $2 $2
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (2) (2)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2) (2)
Income taxes (benefit) 561
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (563) (2)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (563) (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 1,034 (107)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $471 ($109)
=============================================================== ==================== ==================== ====================
254
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Funding Edison Funding
Omicron Inc. Olive Court [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $614
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 614
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 170 $29
Depreciation, decommissioning and amortization 4,592
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,762 29
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,148) (29)
Interest and dividend income 30
Other nonoperating income (22,123)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (26,241) (29)
Income taxes (benefit) (62,180) (12)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 35,939 (17)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 35,939 (17)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 70,450 (4)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $106,389 ($21)
=============================================================== ==================== ==================== ====================
255
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Consolidating Edison Capital
Housing Investments Adjustments Housing
Investments
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $49,224 $54,212
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 49,224 54,212
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 14,203 20,063
Depreciation, decommissioning and amortization 3,465 8,205
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 17,668 28,268
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 31,556 25,944
Interest and dividend income 55 561
Other nonoperating income (4,863) (30,604)
Interest expense - net of amounts capitalized (2) (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 26,746 (4,102)
Income taxes (benefit) 247 (54,316)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 26,499 50,214
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 26,499 50,214
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (3,932) 161,335
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $22,567 $211,549
=============================================================== ==================== ==================== ====================
256
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Edison Capital LAI Edison Capital
(Bermuda) (Bermuda) Ltd. [6] Latin American
Investments, Ltd. Investments
(Bermuda), Ltd. [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other ($19,749)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (19,749)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 13
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (19,762)
Interest and dividend income 5,185
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (14,577)
Income taxes (benefit) (5,903)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (8,674)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (8,674)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 1,337
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($7,337)
=============================================================== ==================== ==================== ====================
257
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Edison Capital Edison Capital
International Inernational Latin American
(Bermuda) Ltd. Transmission Investments
(Bermuda) Ltd. Holding Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other ($3) ($5,674)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (3) (5,674)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 28 1
Depreciation, decommissioning and amortization 1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 29 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (32) (5,675)
Interest and dividend income 731 2,900
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 699 (2,775)
Income taxes (benefit) 235 (1,213)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 464 (1,562)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 464 (1,562)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 1,392 4,097
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,856 $2,535
=============================================================== ==================== ==================== ====================
258
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Edison Capital Edison Capital Mission Funding
(Netherlands) (Netherlands) Alpha
Holdings Company Investments B.V.
B.V. [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other ($17) ($3,500) $31,645
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (17) (3,500) 31,645
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 84 56 2
Depreciation, decommissioning and amortization 1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 84 57 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (101) (3,557) 31,643
Interest and dividend income 1 2,478
Other nonoperating income
Interest expense - net of amounts capitalized (3,286)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (100) (4,365) 31,643
Income taxes (benefit) 16 (1,754) 12,808
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (116) (2,611) 18,835
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (116) (2,611) 18,835
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (49) 43 33,055
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($165) ($2,568) $51,890
=============================================================== ==================== ==================== ====================
259
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Funding Mu Mission Funding Mission Funding Nu
[6] Delta [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $1,597 $3,525
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,597 3,525
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 3 $3 3
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 3 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 1,594 (3) 3,522
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 1,594 (3) 3,522
Income taxes (benefit) 647 42 1,448
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 947 (45) 2,074
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 947 (45) 2,074
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 8,599 6,130 16,656
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $9,546 $6,085 $18,730
=============================================================== ==================== ==================== ====================
260
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Mission Mission (Bermuda) Mission Funding
Investments, Inc. Investments, Ltd. Epsilon
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $2,637 $4,136 $17,490
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,637 4,136 17,490
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 3 16 6,777
Depreciation, decommissioning and amortization 1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 16 6,778
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2,634 4,120 10,712
Interest and dividend income 3,249
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,634 4,120 13,961
Income taxes (benefit) (13) (149) 19,483
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,647 4,269 (5,522)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2,647 4,269 (5,522)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,399) (2,904) 109,123
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,248 $1,365 $103,601
=============================================================== ==================== ==================== ====================
261
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income (Loss) and Retained Earnings
December 31, 2001
(In thousands)
Consolidating Mission Funding
Adjustments Epsilon
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other ($6,772) $25,315
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (6,772) 25,315
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (6,772) 217
Depreciation, decommissioning and amortization 3
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses ($6,772) 220
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 25,095
Interest and dividend income 14,544
Other nonoperating income
Interest expense - net of amounts capitalized (3,286)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 36,353
Income taxes (benefit) 25,647
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 10,706
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 10,706
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 176,080
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $186,786
=============================================================== ==================== ==================== ====================
262
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: 1st Time Homebuyer 1010 SVN Assoc LP 1028 Howard St Assoc LP
Opportunities LP (Chester
County Homes)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,344 $1,016 $204
Revenues $38 $41 $12
Net Income (Loss) ($107) ($21) ($9)
Ownership Interest(s): 99.00% by Edison Capital 99.9% by Edison Capital 99.00% by Mission Housing
Housing Investments Housing Partners IX LP Investors Partnership
Name of Entity: 1101 Howard St Assoc LP 1475 167th Ave Assoc LP 16th and Church St Assoc
(Bermuda Gardens Apts) LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $54 $1,113 $2,061
Revenues $3 $109 $151
Net Income (Loss) ($2) ($18) ($111)
Ownership Interest(s): 99.00% by MHIFED 95 LP 99.90% by Edison Capital 99.00% by Edison Funding
Housing Partners XI LP Omicron Inc.
263
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: 1732 Champa LP (Buerger 18303 Kittridge Assoc-39 1856 Wells Court Partners
Brothers Lofts) LP (Kittridge) LP (Wells Court)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $6,757 $1,707 $2,698
Revenues $650 $257 $388
Net Income (Loss) ($67) ($15) ($34)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Funding
Housing Investments Housing Investments Omicron Inc.
Name of Entity: 210 Washington Ave Assoc 2400 Locust Assoc LP 2601 North Broad St Assoc
(Renaissance Plaza) (Locust on the Park) LP (Station House)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $6,072 $19,089 $61
Revenues $549 $2,976 $5
Net Income (Loss) ($468) ($202) ($2)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Investments Housing Investments for Affordable Housing LP
II
264
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: 2814 Fifth St Assoc LP 3790 Wisconsin Street 5363 Dent Ave Assoc LP
(Land Park Woods) Partners LP (Wisconsin
III)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $813 $0 $1,039
Revenues $53 $0 $202
Net Income (Loss) ($24) $0 $20
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by MH II LP
Housing Partners IX LP Housing Investments
Name of Entity: 708 Pico LP (Wavecrest Aaron Michael Assoc LP Abby Assoc LP (Windmere)
Housing)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $366 $1,359 $4,753
Revenues $2 $0 $317
Net Income (Loss) ($6) $0 ($80)
Ownership Interest(s): 99.9% by Edison Capital 99.9% by Edison Capital 99.00% by MHICAL 95 LP
Housing Partners XV LP Housing Partners XVIII LP
265
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Admiralty Heights Assoc AE Assoc LP (Avenida Affordable/Citrus Glenn
II 1995 LP (Kent Manor) Espana) Phase II, Ltd (Citrus
Glenn Apts Phase II)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $623 $7,184 $1,021
Revenues $38 $547 $122
Net Income (Loss) ($39) ($203) ($30)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Capital
Housing Partners VI LP Omicron Inc. Housing Partners VI LP
Name of Entity: Agape Housing LP Alhambra Apts LP Alma Place Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $739 $2,552 $1,062
Revenues $50 $278 $78
Net Income (Loss) ($34) ($79) ($41)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by Edison Capital
Omicron Inc. Housing Partners XIII LP Housing Partners IX LP
266
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Altamont Hotel Assoc LP AMCAL Santa Barbara Fund Anglo Edison Ravenwood LLC
XXXVI LP (Positano)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,027 $1,548 $0
Revenues $111 $117 $0
Net Income (Loss) ($28) ($31) $0
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Funding
Housing Partners VI LP Housing Partners V LP Omicron Inc.
Name of Entity: Antelope Assoc LP Apollo Development Assoc Arbor Lane Assoc Phase II
LP (Apollo Hotel) LP (Timberwood)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $10,303 $551 $12
Revenues $915 $41 $1
Net Income (Loss) ($249) ($20) $0
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by Corporations
Housing Partners XVII LP Housing Partners XIV LP for Affordable Housing LP
267
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Argyle Redevelopment Arroyo Vista Assoc LP Artloft Assoc LP
Partnership LP (The
Argyle)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $4,976 $148 $46
Revenues $1,273 $16 $4
Net Income (Loss) ($608) ($4) ($1)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Corporations 35.60% by Corporations
Housing Investments for Affordable Housing LP for Affordable Housing LP
53.39% by Corporations
for Affordable Housing LP
II
Name of Entity: Auburn Manor Apts LP Auburn Manor LLC Avalon Courtyard LP
(Carson Senior Housing)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,716 $7 $84
Revenues $376 $0 $6
Net Income (Loss) ($136) $0 ($3)
Ownership Interest(s): 99.90% by Edison Capital 50.00% by Edison Capital 99.00% by MHIFED 95 LP
Housing Partners XI LP Housing Investments
268
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: B.A.I. Edison Ravenwood Baker Park Assoc LP Barnsdall Court LP (Villa
LP (Ravenwood) Mariposa)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $10 $14,025 $1,057
Revenues $0 $797 $0
Net Income (Loss) ($2) ($244) $55
Ownership Interest(s): 90.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Delaware, Inc. Housing Partners XVII LP Housing Partners XI LP
Name of Entity: Bartlett Hill Assoc LP Beacon Manor Assoc LP Benton Green LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $5,140 $729 $360
Revenues $448 $45 $0
Net Income (Loss) ($533) ($32) $0
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Investments Housing Partners X LP Housing Partners XV LP
269
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Berry Ave Assoc LP Bodega Hills Investors LP Borregas Court LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $75 $547 $2,078
Revenues $4 $32 $258
Net Income (Loss) ($2) ($12) ($82)
Ownership Interest(s): 99.00% by MHIFED 94 LP 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners V LP Housing Partners XI LP
Name of Entity: Boulder Creek Apartments Bouquet Canyon Seniors LP Bracher Assoc LP
LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $4,667 $20,935 $6,719
Revenues $350 $1,794 $469
Net Income (Loss) ($248) ($926) ($166)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners X LP Housing Partners XVI LP Housing Partners XVIII LP
270
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Bradley Manor Senior Apts Brantwood II Assoc LP Brookline Housing Assoc
LP LLC (Bridgewater)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $523 $2,146 $99
Revenues $66 $79 $11
Net Income (Loss) ($24) ($49) ($4)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 99.00% by Corporations
Housing Partners VI LP Omicron Inc. for Affordable Housing LP
II
Name of Entity: Brooks School Assoc LP Bryn Mawr - Belle Shore Bryson Family Apts LP
LP (The)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $3,177 $26,104 $2,387
Revenues $134 $2,376 $60
Net Income (Loss) ($125) ($976) ($105)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.90% by Edison Capital
Omicron Inc. Omicron Inc. Housing Partners XI LP
271
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Burlington Senior Housing Bush Hotel LP Caleb Affordable Housing
LLC Assoc LP
(Ledges/Pinebrook)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $627 $10,900 $80
Revenues $58 $634 $12
Net Income (Loss) ($30) ($23) ($2)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Funding 99.00% by Corporations
Housing Partners X LP Omicron Inc. for Affordable Housing LP
Name of Entity: California Park Apts LP Carlin LP (The) Carlton Way Apts LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $3,100 $148 $38
Revenues $446 $14 $2
Net Income (Loss) ($158) ($5) ($1)
Ownership Interest(s): 99.00% by MH I LP 99.00% by Corporations 99.00% by MHIFED 94 LP
for Affordable Housing LP
272
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Carson Housing LP (Carson Carson Terrace LP Casa Rampart LP (Rampart
Street) Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,856 $490 $870
Revenues $0 $0 $45
Net Income (Loss) ($88) $0 ($39)
Ownership Interest(s): 98.00% by Edison Capital 99.90% by Edison Capital 98.90% by Edison Capital
Housing Partners XI LP Housing Partners XIV LP Housing Partners XI LP
Name of Entity: C-Court LP (Cawelti Court) CCS/Bellingham LP CCS/Mount Vernon Housing
(Washington Grocery LP (La Venture)
Building)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $587 $3,554 $1,340
Revenues $24 $290 $51
Net Income (Loss) $6 ($35) ($61)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners VII LP Housing Investments Housing Partners XIX LP
273
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: CCS/Renton Housing LP CDR Senior Housing Assoc Catalonia Assoc LP
(Renton) LP (Casa del Rio)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $614 $65 $1,892
Revenues $32 $4 $101
Net Income (Loss) ($27) ($2) ($49)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by MHIFED 94 LP 99.00% by Edison Capital
Housing Partners X LP Housing Partners VIII LP
Name of Entity: Cedarshores Limited Centennial Place LP Centertown Assoc LP
Dividend Housing
Association LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,221 $8,091 $6,085
Revenues $115 $548 $430
Net Income (Loss) ($64) ($311) ($223)
Ownership Interest(s): 98.99% by Edison Capital 99.00% by MH V LP 99.00% by Edison Funding
Housing Partners XII LP Omicron Inc.
0.01% by Mission Funding
Theta
274
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Centro Partners LP (El Cincinnati Ravenwood Apts Chamber Apts LP (The
Centro) LP (Ravenwood) Chamber Bldg)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $4,683 $5,163 $1,395
Revenues $186 $938 $0
Net Income (Loss) ($568) ($220) ($44)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by Edison Capital
Omicron Inc. Omicron Inc. Housing Partners XIII LP
1.00% by B.A.I. Edison
Ravenwood LP (Ravenwood)
Name of Entity: Cochrane Village Apts LP Colina Vista LP Conejo Valley Community
Housing Assoc (Community
House Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,022 $5,389 $1,529
Revenues $160 $245 $87
Net Income (Loss) ($32) ($180) ($49)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MHICAL 95 LP 99.00% by Edison Capital
Housing Partners XIX LP Housing Investments
275
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Coolidge Station Apts LLC Corporations for Corporations for
Affordable Housing LP Affordable Housing LP II
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $318 $290 $268
Revenues $21 $4 $5
Net Income (Loss) ($19) ($36) ($27)
Ownership Interest(s): 99.00% by Edison Capital 1.00% by EC Properties, 1.00% by EC Properties,
Housing Partners X LP Inc. Inc.
Name of Entity: Corporations for Corona Ely/Ranch Assoc LP Cottonwood Affordable
Affordable Housing LP III Housing LP (Verde Vista)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $140 $87 $873
Revenues $1 $6 $73
Net Income (Loss) ($15) ($1) ($37)
Ownership Interest(s): 1.00% by EC Properties 99.00% by MHIFED 94 LP 99.00% by Edison Capital
III, Inc. Housing Partners VII LP
276
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Coyote Springs Apts Assoc Cypress Cove Assoc Davis MHA Twin Pines
LP Community Assoc LP
(Northstar Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $10,676 $2,619 $703
Revenues $644 $187 $48
Net Income (Loss) ($347) ($94) ($10)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.90% by Edison Capital
Omicron Inc. Omicron Inc. Housing Partners XI LP
Name of Entity: Del Carlo Court Assoc LP Delta Plaza Apts LP DeRose Housing Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $4,805 $2,030 $3,952
Revenues $201 $82 $537
Net Income (Loss) ($171) ($71) ($386)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by MH III LP
Omicron Inc. Omicron Inc.
277
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Diamond Creek Apts LP Diamond Phase III Venture Don Avante Assoc I LP
LP (Don de Dios)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $32,217 $2 $682
Revenues $0 $2 $0
Net Income (Loss) ($948) ($1) ($23)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Corporations 99.90% by Edison Capital
Housing Partners XVI LP for Affordable Housing LP Housing Partners XV LP
Name of Entity: Don Avante Assoc II LP Double X Assoc 1995 LP EAH Larkspur Creekside
(Village Avante) (Terrace Manor) Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $12,530 $622 $2,387
Revenues $0 $43 $246
Net Income (Loss) ($527) ($27) ($129)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Funding
Housing Partners XIV LP Housing Partners VI LP Omicron Inc.
278
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: East Cotati Ave Partners Eastwood Homes LP ECH/HFC GP Partnership
LP No. 1
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $5,130 $1,956 $15,892
Revenues $359 $90 $7
Net Income (Loss) ($105) ($114) ($363)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 34.90% by Edison Capital
Omicron Inc. Housing Partners XI LP Housing Investments
50.40% by MHICAL 96
Company
14.70% by MHICAL 97
Company
Name of Entity: ECH/HFC GP Partnership ECH Investor Partners ECH Investor Partners
No. 2 VI-A LP VI-B LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $9,348 $4,393 $2,687
Revenues $3 $13 $8
Net Income (Loss) ($142) ($328) ($197)
Ownership Interest(s): 56.70% by Edison Capital 15.39% by Edison Capital 100% by Edison Capital
Housing Investments Contributions VI Partners Contributions VI Partners
43.30% by MHICAL 95
Company
279
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: ECHP LLC EDA LP (Eagle's Nest) Edison Capital Affordable
Housing 99A G.P.
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $0 $88 $3,768
Revenues $0 $24 $14
Net Income (Loss) $0 ($2) ($368)
Ownership Interest(s): 99.99% by ECHP Investment 99.00% by Corporations 27.69% by Edison Capital
Company for Affordable Housing LP Housing Investments
II
36.47% by MHICAL 96
Company
33.05% by MHICAL 97
Company
2.78% by Mission Housing
Epsilon
0.01% by Mission Funding
Theta
Name of Entity: Edison Capital Affordable Edison Capital Housing Edison Capital Housing
Housing 99B G.P. Partners V LP Partners VI LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $5,020 $5,151 $424
Revenues $33 $9 $1
Net Income (Loss) ($850) ($281) ($34)
Ownership Interest(s): 99.99% by Edison Capital 100% by Edison Capital 61.82% by ECH Investor
Housing Investments Housing Investments Partners VIA LP
0.01% by Mission Funding 37.18% by ECH Investor
Theta Partners VIB LP
280
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Edison Capital Housing Edison Capital Housing Edison Capital Housing
Partners VII LP Partners VIII LP Partners IX LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $5,522 $2,572 $5,735
Revenues $7 $3 $14
Net Income (Loss) ($397) ($155) ($368)
Ownership Interest(s): 19.40% by ECH/HFC GP 18.54% by ECH/HFC GP 13.5533% by Edison
Partnership No. 1 Partnership No. 2 Capital Affordable
Housing 99A G.P.
Name of Entity: Edison Capital Housing Edison Capital Housing Edison Capital Housing
Partners X LP Partners XI LP Partners XII LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $11,129 $6,526 $3,554
Revenues $33 $20 $0
Net Income (Loss) ($851) ($1,268) ($251)
Ownership Interest(s): 19.3952% by Edison 18.62486% by Edison 13.73759% by Edison
Capital Affordable Capital Affordable Capital Affordable
Housing 99B GP Housing 99B GP Housing 99B GP
281
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Edison Capital Housing Edison Capital Housing Edison Capital Housing
Partners XIII LP Partners XIV LP Partners XV LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $3,189 $1,393 $4,272
Revenues $8 $1 $4
Net Income (Loss) ($523) ($21) ($121)
Ownership Interest(s): 17.03513% by Edison 7.61% by Edison Capital 9.567% by Edison Capital
Capital Affordable Affordable Housing 99B GP Affordable Housing 99B GP
Housing 99B GP
Name of Entity: Edison Capital Housing Edison Capital Housing Edison Capital Housing
Partners XVI LP Partners XVII LP Partners XVIII LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $0 $0 $0
Revenues $0 $0 $0
Net Income (Loss) $0 $0 $0
Ownership Interest(s): 0.01% by ECHP LLC 0.01% by ECHP LLC 0.01% by ECHP LLC
282
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Edison Capital Housing Edison Capital Edgewood Manor Assoc II LP
Partners XIX LP Contributions VI Partners
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $0 $6,236 $52
Revenues $0 $21 $4
Net Income (Loss) $0 ($525) ($2)
Ownership Interest(s): 0.01% by ECHP LLC 91.77% by Edison Capital 99.00% by Corporations
Housing Investments for Affordable Housing LP
II
4.03% by Edison Housing
North Carolina
4.20% by Edison Housing
South Carolina
Name of Entity: Edmundson Assoc LP (The El Barrio Academy Urban Electra Arms Senior Assoc
Willows) Renewal Assoc LP (Academy LP
Street)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,960 $4,656 $2,626
Revenues $165 $180 $93
Net Income (Loss) ($149) ($213) ($41)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by Edison Capital
Omicron Inc. Omicron Inc. Housing Partners XI LP
283
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Elizabeth West and East LP Emanuel Grant Company LLC Eugene Hotel LP
(Capitol Heights)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,778 $1,702 $2,552
Revenues $153 $0 $0
Net Income (Loss) ($129) ($105) $11
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.90% by Edison Capital
Omicron Inc. Housing Partners XV LP Housing Partners XVI LP
Name of Entity: Fairmont Hotel Urban Fairview Village Assoc LP Farm (The) Assoc LP
Renewal Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $61 $6 $5,253
Revenues $3 $0 $337
Net Income (Loss) ($4) $0 ($225)
Ownership Interest(s): 99.00% by Corporations 99.00% by MHIFED 94 LP 99.00% by Edison Funding
for Affordable Housing LP Omicron Inc.
284
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Fell St Housing Assoc LP Fifth and Wilshire Apts LP Flagstaff Affordable
Housing II LP (Forest
View Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $131 $1,190 $1,051
Revenues $6 $37 $93
Net Income (Loss) ($3) ($20) ($38)
Ownership Interest(s): 99.00% by MHIFED 94 LP 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners VII LP Housing Partners VII LP
Name of Entity: Florence Apts LLC Florin Woods Assoc LP Forest Winds Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,862 $6,946 $267
Revenues $118 $410 $19
Net Income (Loss) ($93) ($197) ($10)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Mission Housing
Housing Investments Housing Partners XVIII LP Investors Partnership
285
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Fremont Building LP Garnet Housing Assoc LP Gateway Housing LP
(Crescent Arms) (Garnet Lane Apts) (Gateway Plaza)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $18,773 $2,218 $83
Revenues $632 $143 $12
Net Income (Loss) ($619) ($89) ($1)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MHICAL 97 LP 99.00% by Corporations
Housing Partners XVII LP for Affordable Housing LP
II
Name of Entity: Gilroy Redwood Assoc LP Ginzton Assoc LP Glen Eden Assoc LP (A
(Redwoods) Street)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,765 $3,757 $350
Revenues $192 $951 $14
Net Income (Loss) ($102) ($100) ($12)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by Mission Housing
Omicron Inc. Omicron Inc. Investors Partnership
286
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Good Samaritan Assoc LP Grace Housing LP (Grace Gray's Meadows Investors
Street) LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $49 $2,543 $252
Revenues $2 $0 $19
Net Income (Loss) ($1) ($148) ($10)
Ownership Interest(s): 99.00% by MHIFED 96A LP 99.00% by Edison Capital 99.00% by Mission Housing
Housing Partners XI LP Investors Partnership
Name of Entity: Greenway Village Assoc LP Grossman Apts Investors LP Hamilton Place Apts LP
(Larkin Place)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $35 $1,039 $1,288
Revenues $2 $106 $136
Net Income (Loss) ($1) ($30) ($59)
Ownership Interest(s): 99.00% by MHICAL 96 LP 99.00% by Edison Funding 99.00% by Edison Capital
Omicron Inc. Housing Partners VI LP
287
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Hamilton Place Senior Harry Clark Jr. Hearthstone Group 3 LP
Living LP Residential Center LLC (Evergreen Court)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,060 $1,922 $392
Revenues $99 $114 $30
Net Income (Loss) ($54) ($164) ($19)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners VI LP Housing Investments Housing Partners VI LP
Name of Entity: Heather Glen Assoc LP Hercules Senior Housing Heritage Partners LP
Assoc LP (Heritage Villas)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $4,688 $9,317 $2,120
Revenues $372 $438 $0
Net Income (Loss) ($174) ($369) ($55)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by Edison Capital
Omicron Inc. Housing Partners XVII LP Housing Partners XII LP
288
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Highland Village Partners Hilltop Farms LP HMB-Atlanta I LP (Spring
LP Branch)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $448 $3,136 $5,053
Revenues $0 $0 $874
Net Income (Loss) $8 ($90) ($27)
Ownership Interest(s): 99.90% by Edison Capital 99.90% by Edison Capital 99.00% by Edison Funding
Housing Partners XV LP Housing Partners XVI LP Omicron Inc.
Name of Entity: Hollywood El Centro LP Holy Family Assoc LP Homestead Village Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $110 $9,576 $57
Revenues $6 $535 $6
Net Income (Loss) ($3) ($267) ($2)
Ownership Interest(s): 99.00% by MHIFED 95 LP 99.00% by Edison Funding 99.00% by Corporations
Omicron Inc. for Affordable Housing LP
II
289
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Hope West Apts LP Hotel Elkhart LLC (The Huff Ave Assoc LP
Cornerstone)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $27 $4,078 $1,929
Revenues $1 $622 $152
Net Income (Loss) ($1) ($117) ($38)
Ownership Interest(s): 99.00% by MHIFED 94 LP 99.00% by Edison Capital 99.00% by Edison Capital
Housing Investments Housing Partners VII LP
Name of Entity: I.G. Partners LP (Island Josephinum Assoc LP (The) Junction City Apts LP
Gardens) (Green Park)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $7,520 $8,211 $495
Revenues $235 $1,237 $717
Net Income (Loss) $14 ($678) ($32)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Partners XV LP Housing Investments for Affordable Housing LP
II
290
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Karen Partners LP KDF Malabar LP (Malabar KDF Park Glenn LP (Park
Apts) Glenn Apartments)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $172 $1,720 $9,712
Revenues $0 $230 $1,349
Net Income (Loss) $2 ($26) ($147)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners XV LP Housing Partners VI LP Housing Partners XVI LP
Name of Entity: KDF Park Glenn Seniors LP KDF Santa Paula LP (Santa Kennedy Court Partners LP
(Park Glenn Senior Apts Paula)
II)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,744 $3,317 $3,203
Revenues $0 $416 $192
Net Income (Loss) ($46) ($78) ($161)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by MHICAL 96 LP
Housing Partners XVI LP Housing Partners XIX LP
291
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Kennedy Lofts Assoc LP King Road Assoc LP Klamath Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $12,074 $2,182 $2,604
Revenues $2,743 $0 $148
Net Income (Loss) ($514) ($119) ($111)
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by MHICAL 96 LP
Housing Investments Housing Partners XVI LP
Name of Entity: Knolls Community Assoc LP La Brea/Franklin LP Lackawana Housing Assoc
(The Knolls) (Goodwill)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,164 $56 $3,757
Revenues $49 $3 $147
Net Income (Loss) ($49) ($4) ($100)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by MHIFED 95 LP 99.00% by Edison Funding
Housing Partners IX LP Omicron Inc.
292
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Lark Ellen LP Larkin Pine LP La Terraza Assoc LP
(Villa Loma)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,590 $74 $25,086
Revenues $161 $3 $2,083
Net Income (Loss) ($104) ($2) ($971)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MHIFED 95 LP 99.00% by Edison Capital
Housing Partners X LP Housing Partners XVII LP
Name of Entity: Lavell Village Assoc LP LL Housing LP (Laurel LL Housing LLC
Lakes)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $264 $9,668 $76
Revenues $17 $0 $0
Net Income (Loss) ($10) ($916) ($2)
Ownership Interest(s): 99.00% by MHIFED 96 LP 99.00% by Edison Capital 24.50% by Edison Capital
Housing Partners XVI LP Housing Investments
293
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Lee Park Investors LP Liberty House Assoc LP Lilac Estates LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $25,383 $42 $53
Revenues $6,024 $3 $0
Net Income (Loss) $157 ($2) $0
Ownership Interest(s): 99.00% by Mission Housing 99.00% by Corporations 99.90% by Edison Capital
Alpha for Affordable Housing LP Housing Partners XV LP
II
Name of Entity: LINC-Bristol Assoc I, LP Lovejoy Station LP
(City Gardens)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,503 $16,661
Revenues $400 $0
Net Income (Loss) ($6) $20
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital
Housing Partners VI LP Housing Partners XVIII LP
294
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Mackenzie Park Assoc LP Madison/Mollison LP (Park Maple Ridge Development
Mollison) Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $16 $6,193 $22
Revenues $1 $960 $3
Net Income (Loss) $0 ($250) $0
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 99.00% by Corporations
for Affordable Housing LP Housing Investments for Affordable Housing LP
II
Name of Entity: Maplewood Housing Maplewood School Apts LP Mar Assoc LP (Frank Mar)
Associates LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $5,872 $5,097 $9,455
Revenues $253 $184 $714
Net Income (Loss) ($156) ($244) ($559)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Funding
Housing Investments Omicron Inc. Omicron Inc.
295
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: MAS-WT LP (Washington Mayacamas Village Assoc LP McFarland Press Assoc LP
Terrace)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,086 $5,981 $5,039
Revenues $255 $350 $258
Net Income (Loss) ($73) ($167) ($210)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MHICAL 94 LP 99.00% by Edison Funding
Housing Partners VI LP Omicron Inc.
Name of Entity: Mercantile Housing LLC Mercy Housing California Mercy Housing California
(Mercantile Square) III LP (3rd and Reed) IV LP (Vista Grande)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $10,951 $64 $699
Revenues $766 $4 $40
Net Income (Loss) ($412) ($2) ($13)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHIFED 95 LP 99.00% by Edison Capital
Omicron Inc. Housing Partners V LP
296
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Mercy Housing California Mercy Housing California Merrill Road Assoc LP
VI LP (205 Jones) IX LP (Sycamore)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $3,435 $1,945 $8,863
Revenues $253 $95 $512
Net Income (Loss) ($123) ($46) ($336)
Ownership Interest(s): 99.00% by MHICAL 95 LP 99.90% by Edison Capital 99.00% by Edison Funding
Housing Partners X LP Omicron Inc.
Name of Entity: Metro Senior Assoc LP MH I LP MH II LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $71 $606 $60
Revenues $4 $13 $3
Net Income (Loss) ($2) ($158) ($15)
Ownership Interest(s): 99.00% by MHIFED 96A LP 1.00% by Edison Capital 1.00% by Edison Capital
Housing Investments Housing Investments
99.00% by Edison Funding 99.00% by Mission Housing
Omicron Inc. Delta
297
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: MH III LP MH IV LP MH V LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $321 $407 $515
Revenues $10 $10 $4
Net Income (Loss) ($340) ($358) ($314)
Ownership Interest(s): 1.00% by Edison Capital 1.00% by Edison Capital 1.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
99.00% by Mission Housing 99.00% by Mission Housing 99.00% by Mission Housing
Delta Delta Delta
Name of Entity: MHIFED 94 LP MHICAL 94 LP MHIFED 95 LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $347 $17,850 $312
Revenues $1 $131 $1
Net Income (Loss) ($29) ($1,717) ($39)
Ownership Interest(s): 1.00% by Edison Capital 1.00% by Edison Capital 1.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
99.00% by Edison Funding
Omicron Inc.
298
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: MHICAL 95 LP MHIFED 96 LP MHIFED 96A LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $25,739 $1,079 $281
Revenues $131 $3 $1
Net Income (Loss) ($1,877) ($97) ($21)
Ownership Interest(s): 1.00% by Edison Capital 5.00% by Edison Capital 1.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
99.00% by Edison Funding
Omicron Inc.
Name of Entity: MHICAL 96 LP MHIFED 97 LP MHICAL 97 LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $3,606 $0 $427
Revenues $25 $0 $1
Net Income (Loss) ($889) $0 ($89)
Ownership Interest(s): 1.00% by Edison Capital 1.00% by Edison Capital 1.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
99.00% by Edison Funding 99.00% by MHIFED 97 99.00% by MHICAL 97
Omicron Inc. Company Company
299
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Mid-Peninsula Century Mid-Peninsula Sharmon Mission Capp LP
Village Assoc LP (Century Palms Assoc LP (Sharmon
Village) Palms)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $7,152 $2,649 $5,086
Revenues $802 $223 $408
Net Income (Loss) ($253) ($66) ($237)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by Edison Funding
Omicron Inc. Housing Investments Omicron Inc.
Name of Entity: Mission Housing Investors Mission Housing Monterra Village Assoc LP
Partnership Partnership 1996 LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,129 $12,717 $648
Revenues $4 $49 $29
Net Income (Loss) ($109) ($971) ($19)
Ownership Interest(s): 5.00% by Mission Housing 1.00% by Edison Capital 99.00% by Edison Capital
Theta Housing Investments Housing Partners IX LP
99.00% by Edison Funding
Omicron Inc.
300
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Morgan Hill Ranch Housing Morrone Gardens Assoc LP Mountainlands Housing
LP Partners LP (Holiday
Village Apts)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,140 $70 $750
Revenues $133 $7 $0
Net Income (Loss) ($59) ($2) ($7)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MHIFED 94 LP 99.90% by Edison Capital
Housing Partners X LP Housing Partners XV LP
Name of Entity: Mountain View Townhomes MPT Apts LP (MacArthur NAHF Brockton LP
Assoc LP Park) (Southfield Gardens)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $865 $5,917 $1,162
Revenues $40 $937 $0
Net Income (Loss) ($30) ($351) $1
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MH IV LP 99.90% by Edison Capital
Housing Partners VII LP Housing Partners XV LP
301
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: National Boston Lofts Neary Lagoon Partners LP Northern Senior Housing
Assoc LLLP (Boston Lofts) LP (St. Johnsbury)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $17,821 $9,274 $1,720
Revenues $2,303 $512 $3
Net Income (Loss) ($46) ($332) $3
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 99.9% by Edison Capital
Housing Investments Omicron Inc. Housing Partners XV LP
Name of Entity: North Park Village LLC North Town Housing Northwood Manor Assoc LP
Partners LP (Villa del
Norte Village)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,043 $630 $654
Revenues $145 $24 $46
Net Income (Loss) ($73) ($25) ($26)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHIFED 96 LP 99.00% by Edison Capital
Omicron Inc. Housing Partners VI LP
302
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Oak Forest Assoc LP Oakdale Terrace Leased Oceanside Gardens LP
Housing Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $545 $1,597 $1,727
Revenues $22 $184 $89
Net Income (Loss) ($17) ($91) ($57)
Ownership Interest(s): 99.00% by Edison Capital 98.99% by Edison Capital 99.00% by Edison Funding
Housing Partners VII LP Housing Investments Omicron Inc.
0.01% by Mission Funding
Theta
Name of Entity: Ohlone Housing Assoc LP Olive Court Apts LP OL Hope LP (Olympic Hope)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,491 $2,557 $7,934
Revenues $213 $440 $0
Net Income (Loss) ($85) ($200) $1
Ownership Interest(s): 99.00% by Edison Capital 98.90% by Edison Capital 99.90% by Edison Capital
Housing Partners VIII LP Housing Investments Housing Partners XVIII LP
0.60% by Edison Funding
Olive Court
303
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Omaha Amber Ridge LP Ontario Senior Housing LP Open Door Assoc LP
(Amber Ridge) (Ontario Plaza)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $7,100 $6,338 $7,463
Revenues $1,051 $450 $462
Net Income (Loss) ($178) ($302) ($163)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by Edison Funding
Omicron Inc. Housing Partners XIX LP Omicron Inc.
Name of Entity: Osage Terrace LP Oxnard Housing Assoc LP Pacific Terrace Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $493 $37 $714
Revenues $0 $3 $29
Net Income (Loss) ($15) ($1) ($25)
Ownership Interest(s): 99.89% by Edison Capital 99.00% by MHIFED 96A LP 99.90% by Edison Capital
Housing Partners XII LP Housing Partners IX LP
304
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Pacifica Community Assoc Pacific Vista Las Flores Pajaro Court Assoc LP
LP (Villa Pacifica) LP (Vista Las Flores)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,467 $0 $16
Revenues $186 $0 $1
Net Income (Loss) ($73) $0 $0
Ownership Interest(s): 99.90% by Edison Capital 99.90% by Edison Capital 99.00% by MHIFED 94 LP
Housing Partners X LP Housing Investments
Name of Entity: Palmer Heights, LLC Palmer House LP Paradise Road Partners LP
(Gateway Village)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $0 $1,586 $859
Revenues $0 $198 $47
Net Income (Loss) $0 ($41) ($19)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Capital
Housing Partners XVIII LP Omicron Inc. Housing Partners VII LP
305
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Park Land Senior Apts Park Place Terrace LP Park Place 1998, LLC
Investors LP (Banducci)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $458 $8,824 $252
Revenues $18 $294 $0
Net Income (Loss) ($29) ($212) $0
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.90% by Edison Capital
Housing Partners XIII LP Housing Partners V LP Housing Partners XV LP
Name of Entity: Park Williams Partners LP Parkside Assoc LP Parkview Apts Assoc LP
(Parkside Senior) (Parkview/Sunburst)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $140 $60 $8,374
Revenues $0 $2 $532
Net Income (Loss) $20 ($2) ($334)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Corporations 99.90% by Edison Capital
Housing Partners XV LP for Affordable Housing LP Housing Partners XVII LP
306
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Parsonage Cottage Senior Patriots Pointe at Pecan Court Assoc LP
Residence LP Colonial Hills LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $46 $533 $3,494
Revenues $13 $0 $178
Net Income (Loss) ($4) $0 ($123)
Ownership Interest(s): 99.00% by Corporations 99.9% by Edison Capital 99.90% by Edison Capital
for Affordable Housing LP Housing Partners XV LP Housing Partners XIX LP
II
Name of Entity: Pellettieri Homes Urban Persimmon Assoc LP Piedmont Housing Assoc
Renewal Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $7,096 $923 $134
Revenues $355 $86 $20
Net Income (Loss) ($233) ($42) ($4)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Partners XIX LP Housing Partners X LP for Affordable Housing LP
III
307
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Pilot Grove LP Pines Housing LP Pines Housing II LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $5,658 $34 $21
Revenues $669 $4 $3
Net Income (Loss) ($683) ($1) ($1)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Corporations 99.00% by Corporations
Housing Investments for Affordable Housing LP for Affordable Housing LP
Name of Entity: Pines Housing III LP Pinmore Assoc LP Pinole Grove Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $24 $6,342 $54
Revenues $3 $438 $4
Net Income (Loss) ($1) ($157) ($1)
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 99.00% by MHIFED 95 LP
for Affordable Housing LP Housing Partners XVIII LP
III
308
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: PlumTree Preservation LP Poco Way Assoc LP Poinsettia Housing
Associates
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $544 $881 $243
Revenues $79 $49 $1
Net Income (Loss) ($11) ($21) $102
Ownership Interest(s): 99.9% by Edison Capital 99.00% by MHIFED 96 LP 99.9% by Edison Capital
Housing Partners XV LP Housing Partners XV LP
Name of Entity: Post Office Plaza LP Preservation Properties I Preservation Properties
LP II LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $36,463 $272 $259
Revenues $9,114 $43 $55
Net Income (Loss) $642 ($7) $2
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Investments Housing Partners XIV LP Housing Partners XIV LP
309
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Preservation Properties Preservation Properties Preservation Properties V
III LP IV LP LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $132 $65 $364
Revenues $28 $14 $57
Net Income (Loss) $2 $1 $10
Ownership Interest(s): 99.90% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Partners XIV LP Housing Partners XIV LP Housing Partners XIV LP
Name of Entity: President John Adams Prince Bozzuto LP Project Home I LLC
Manor Apts LP (Fairground Commons)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,109 $522 $275
Revenues $366 $67 $15
Net Income (Loss) ($31) ($36) ($20)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Mission Housing 99.99% by Edison Capital
Housing Partners XIII LP Investors Partnership Housing Partners XV LP
310
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Providence-Brown St PVA LP (Park Victoria) Quebec Arms Apartments LP
Housing LP (Brown St)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $292 $775 $15,202
Revenues $13 $106 $125
Net Income (Loss) ($14) ($40) ($7)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.9% by Edison Capital
Housing Partners X LP Housing Partners IX LP Housing Partners XVII LP
0.05% by Mission Housing
Alpha
Name of Entity: Rancho Park Assoc LP Red Lake LP #1 Reseda Village LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $390 $2,204 $39
Revenues $18 $82 $3
Net Income (Loss) ($12) ($77) $0
Ownership Interest(s): 99.00% by Mission Housing 99.00% by Edison Capital 99.00% by MHIFED 96A LP
Investors Partnership Housing Partners XVI LP
311
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Richmond City Center Rincon De Los Esteros Rittenhouse School LP
Assoc LP Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $6,200 $29,291 $45
Revenues $417 $2,336 $4
Net Income (Loss) ($241) ($826) ($2)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by Corporations
Omicron Inc. Housing Partners XIX LP for Affordable Housing LP
II
Name of Entity: Riverside/ Liebrandt River Walk Apts Homes LP Riverwalk Apts, Ltd
Partners LP (La Playa) (Colorado)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,444 $474 $1,737
Revenues $82 $44 $193
Net Income (Loss) ($89) ($18) ($32)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by Edison Capital
Omicron Inc. Housing Partners V LP Housing Partners XIII LP
312
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Roebling Village Inn Rosebloom Assoc LP Rosecreek Senior Living LP
Urban Renewal LP (Oakshade)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,910 $2,685 $1,145
Revenues $59 $192 $65
Net Income (Loss) ($47) ($82) ($112)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.90% by Edison Capital
Omicron Inc. Omicron Inc. Housing Partners XIII LP
Name of Entity: Round Walk Village Apts LP Rowland Heights Rustic Gardens Assoc LP
Preservation LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $132 $707 $154
Revenues $9 $44 $6
Net Income (Loss) ($5) ($49) ($5)
Ownership Interest(s): 99.00% by MHIFED 96A LP 99.9% by Edison Capital 99.00% by Mission Housing
Housing Partners XIV LP Investors Partnership
313
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Salem Lafayette Urban San Diego Golden Villa San Juan Commons 1996 LP
Renewal Assoc LP Partners LP (Golden Villa)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $97 $472 $573
Revenues $8 $26 $40
Net Income (Loss) ($2) ($15) ($42)
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 99.90% by Edison Capital
for Affordable Housing LP Housing Partners V LP Housing Partners X LP
III
Name of Entity: San Martin de Porres LP San Pablo Senior Housing San Pedro Gardens Assoc LP
Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,960 $3,558 $2,566
Revenues $0 $341 $127
Net Income (Loss) $0 ($165) ($128)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Funding
Housing Partners XVI LP Omicron Inc. Omicron Inc.
314
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Santa Alicia Family Santa Alicia Gardens Santa Paulan Senior Apts
Housing Assoc Townhomes LP (Gardens Assoc LP (The Paulan)
Townhomes)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $75 $389 $7,778
Revenues $8 $26 $881
Net Income (Loss) ($1) ($7) ($112)
Ownership Interest(s): 99.00% by MHIFED 96A LP 99.00% by Edison Capital 99.00% by Edison Funding
Housing Partners V LP Omicron Inc.
Name of Entity: Saratoga Vacaville LP Schoolhouse Court Housing SD Regency Centre LP
(Saratoga Senior) Assoc LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $744 $2,702 $6,383
Revenues $0 $127 $0
Net Income (Loss) ($49) ($145) ($75)
Ownership Interest(s): 99.90% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Partners XV LP Housing Partners XIX LP Housing Partners XVIII LP
315
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Sea Ranch Apts LP Seasons Affordable Senior Second St Center LP
Housing LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $119 $278 $47
Revenues $9 $23 $3
Net Income (Loss) ($7) ($12) ($1)
Ownership Interest(s): 99.00% by Mission Housing 99.00% by MHIFED 96 LP 99.00% by MHIFED 95 LP
Investors Partnership
Name of Entity: Serena Sunbow LP (Villa Sherman Glen, LLC Silver City Housing LP
Serena)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $0 $788 $61
Revenues $0 $93 $12
Net Income (Loss) ($44) ($31) ($2)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Partners XV LP Housing Partners IX LP for Affordable Housing LP
II
316
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Silver Lake Properties LP Sky Parkway Housing Assoc Smyrna Gardens Assoc LP
LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $432 $7,262 $37
Revenues $37 $378 $3
Net Income (Loss) ($14) ($263) ($2)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Partners VI LP Housing Partners XVII LP for Affordable Housing LP
Name of Entity: Solinas Village Partners South 55th St LP South Beach Housing Assoc
LP LP (Steamboat Point)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $41 $26 $11,628
Revenues $2 $2 $735
Net Income (Loss) ($1) ($0) ($252)
Ownership Interest(s): 99.00% by MHIFED 95 LP 99.00% by Corporations 99.00% by Edison Funding
for Affordable Housing LP Omicron Inc.
II
317
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: South Winery Assoc LP Southern Hotel LP Springdale Kresson Assoc
(The Winery Apts) LP (Jewish Federation)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $7,025 $4,104 $390
Revenues $1,020 $0 $26
Net Income (Loss) ($478) $358 ($23)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by Mission Housing
Omicron Inc. Housing Partners XVI LP Investors Partnership
Name of Entity: Springdale Preservation Spring Valley Commons Stevenson Housing Assoc
LP (Springdale West) (Park Vista)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,939 $86 $65
Revenues $223 $5 $5
Net Income (Loss) ($119) ($2) ($4)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Corporations 99.00% by Corporations
Housing Partners XIV LP for Affordable Housing LP for Affordable Housing LP
III III
318
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: St. Hedwig's Gardens St. Regis Park LP (Pear Stoney Creek Assoc LP
Tree)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $598 $932 $8,170
Revenues $35 $40 $447
Net Income (Loss) ($2) ($11) ($342)
Ownership Interest(s): 99.00% by Edison Capital 99.9% by Edison Capital 99.00% by Edison Funding
Housing Partners V LP Housing Partners XV LP Omicron Inc.
Name of Entity: Stony Point Apt Investors Strobridge Housing Assoc Studebaker Building LP
LP (Panas Place) LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,969 $1,515 $2,613
Revenues $104 $87 $263
Net Income (Loss) ($77) ($56) ($118)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Funding
Housing Partners XI LP Housing Partners IX LP Omicron Inc.
319
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Sultana Acres Assoc LP Sunset Creek Partners LP Sunshine Terrace LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,276 $8,432 $1,291
Revenues $131 $513 $51
Net Income (Loss) ($108) ($354) ($31)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by Edison Capital
Omicron Inc. Housing Partners XVII LP Housing Partners V LP
Name of Entity: Tabor Grand LP Terra Cotta Housing Assoc Thomson Rental Housing LP
LP (Washington Place)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,837 $28,642 $1,905
Revenues $277 $0 $191
Net Income (Loss) ($187) ($1,036) ($72)
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by Edison Funding
Housing Investments Housing Partners XVI LP Omicron Inc.
320
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Three Oaks Housing LP Tierra Linda Assoc LP Timber Sound, Ltd
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $42 $28 $1,015
Revenues $3 $1 $105
Net Income (Loss) ($5) ($1) ($32)
Ownership Interest(s): 99.00% by MHIFED 95 LP 99.00% by MHIFED 94 LP 99.00% by Edison Capital
Housing Partners X LP
Name of Entity: Timber Sound II, Ltd Tioga Gardens LP Tlaquepaque Housing Assoc
LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $2,223 $42 $59
Revenues $214 $2 $4
Net Income (Loss) $0 ($1) ($2)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Corporations 99.00% by MHIFED 94 LP
Housing Partners X LP for Affordable Housing LP
321
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Trinity Park Apts LP Trolley Terrace Townhomes Tuscany Assoc LP (Tuscany
LP Villa)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $499 $378 $3,593
Revenues $27 $14 $226
Net Income (Loss) ($26) ($20) ($153)
Ownership Interest(s): 99.90% by Edison Capital 99.90% by Edison Capital 99.00% by Edison Funding
Housing Partners X LP Housing Partners IX LP Omicron Inc.
Name of Entity: Twin Ponds Apts LP Union Meadows Apts University Manor
Apartments LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,734 $778 $5,767
Revenues $179 $38 $96
Net Income (Loss) ($78) ($42) ($3)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.9% by Edison Capital
Housing Partners XIII LP Housing Partners V LP Housing Partners XVII LP
0.05% by Mission Housing
Alpha
322
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: University Park Upland Senior Housing LP Venbury Trail LP
Properties LP (Coy D. Estes)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $572 $1,299 $1,032
Revenues $28 $117 $129
Net Income (Loss) ($40) ($52) ($40)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.90% by Edison Capital
Housing Partners VI LP Housing Partners VI LP Housing Partners X LP
Name of Entity: Villa Maria Housing Vine St Court LP Vine St Court LP II
Partnership
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $3,529 $33 $9
Revenues $155 $2 $1
Net Income (Loss) $97 ($1) ($0)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHIFED 96A LP 99.00% by MHIFED 96A LP
Omicron Inc.
323
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Virginia Lane LP Vista Properties LLC Vista Sonoma Senior
(Vista View) Living LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $10,668 $809 $1,767
Revenues $328 $79 $0
Net Income (Loss) ($9) ($38) $31
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.90% by Edison Capital
Housing Partners XIX LP Housing Partners VI LP Housing Partners XV LP
Name of Entity: Vista Verde Housing Vista Verde Townhomes II W.M. Housing Assoc LP
Associates LP (California) LLC (Colorado) (Williamsport Manor)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $9,181 $453 $58
Revenues $0 $20 $8
Net Income (Loss) $2 ($18) ($0)
Ownership Interest(s): 99.9% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Partners XVII LP Housing Partners VI LP for Affordable Housing LP
II
324
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Walden Pond Ltd LP Wall Street Palmer House Walnut Ave Partnership LP
(Hamlet) LP (Palmer Hotel)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $204 $835 $662
Revenues $21 $79 $47
Net Income (Loss) ($4) ($6) ($14)
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 99.00% by Edison Capital
for Affordable Housing LP Housing Partners XI LP Housing Partners IX LP
Name of Entity: Washington Creek Assoc LP West Capital Courtyard LP Westfair LLC (Cedar Ridge)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $3,234 $5,913 $141
Revenues $229 $331 $0
Net Income (Loss) ($122) ($155) $16
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHICAL 94 LP 99.90% by Edison Capital
Omicron Inc. Housing Partners XV LP
325
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Westfield Condominium Westgate Townhomes Assoc West Oaks Apts LP
Investment LP LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,491 $4,560 $1,214
Revenues $309 $213 $60
Net Income (Loss) ($10) ($164) ($58)
Ownership Interest(s): 98.99% by Edison Capital 99.00% by MHICAL 96 LP 99.90% by Edison Capital
Housing Investments Housing Partners XII LP
0.01% by Mission Funding
Theta
Name of Entity: Westport Village Homes West Valley Hart LP (Hart Wheeler Manor Assoc LP
Assoc LP and Alabama)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,146 $1,995 $10,253
Revenues $113 $4 $614
Net Income (Loss) ($41) $21 ($328)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by Edison Funding
Omicron Inc. Housing Investments Omicron Inc.
326
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: White Mountain Apache Wilmington Housing Assoc Windrush Apartments of
Housing LP (New Harbor Vista) Statesville LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $1,877 $2,330 $489
Revenues $59 $0 $3
Net Income (Loss) ($76) ($107) ($15)
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.9% by Edison Capital
Housing Investments Housing Partners XI LP Housing Partners XV LP
Name of Entity: Winfield Hill Assoc LP Wingate LLC (Regency Park) Winnsboro Apts LP (Deer
Wood)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $17,521 $313 $37
Revenues $1,118 $0 $3
Net Income (Loss) ($534) ($40) ($2)
Ownership Interest(s): 99.00% by Edison Capital 99.9% by Edison Capital 99.00% by Corporations
Housing Partners XIX LP Housing Partners XV LP for Affordable Housing LP
II
327
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Women's Westlake LP Woodland Arms Apts, Ltd Woodleaf Village LP
(Dorothy Day) (Willow Creek)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $775 $1,660 $875
Revenues $42 $202 $46
Net Income (Loss) ($17) ($119) ($46)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.89% by Edison Capital
Housing Partners XIII LP Housing Partners VII LP Housing Partners XIII LP
0.01% by Mission Funding
Theta
Name of Entity: WPA/Edison LLC (Pier A) Yale Street LP YWCA Villa Nueva Partners
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $0 $856 $7,389
Revenues $0 $43 $348
Net Income (Loss) $0 ($35) ($213)
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by Edison Funding
Housing New York Housing Partners XII LP Omicron Inc.
328
Edison Capital
Equity Investments
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: AIG Asian Infrastructure AIG Emerging Europe AIG Emerging Europe
Fund II LP Infrastructure Fund LP Infrastructure Management
LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $53,678 $8,544 $158
Revenues $1,668 $18 $2,638
Net Income (Loss) ($7,192) ($1,541) ($26)
Ownership Interest(s): 5.80% by Edison Capital 18.05% by Edison Capital 23.60% by Edison Capital
Latin American Latin American Latin American
Investments (Bermuda) Ltd. Investments (Bermuda) Ltd. Investments (Bermuda) Ltd.
Name of Entity: AIG-GE Capital Latin Compania Adminstradora de Electricidad de La Paz,
American Infrastructure Empresas Bolivia SA (Cade) S.A. (Electropaz)
Fund LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $48,518 $832 $10,299
Revenues $539 $596 $2,615
Net Income (Loss) ($992) $248 $700
Ownership Interest(s): 8.00% by Edison Capital 12.55% by Edison Capital 10% by Edison Capital
Latin American International (Bermuda) International (Bermuda)
Investments (Bermuda) Ltd. Ltd. Ltd.
329
Edison Capital
Equity Investments
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Empresa de Servicios Empresa de Luz y Fuerza Huntington LP
Edeser S.A. (Edesar) Electrica de Oruro SA
(Elfeo)
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $437 $1,653 $100,660
Revenues $582 $471 $14,112
Net Income (Loss) $114 $53 $5,994
Ownership Interest(s): 12.55% by Edison Capital 12.55% by Edison Capital 50.00% by Mission Funding
International (Bermuda) International (Bermuda) Zeta
Ltd. Ltd.
Name of Equity Lakota Ridge LLC Olmeca Cable Investments Shaokatan Hills LLC
Ltd.
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $10,781 $17,907 $12,356
Revenues $688 $18 $836
Net Income (Loss) ($491) ($434) ($489)
Ownership Interest(s): 75.00% by Mission Funding 21.7% by Edison Capital 75.00% by Mission Funding
Zeta International (Bermuda) Zeta
Ltd.
330
Edison Capital
Equity Investments
December 31, 2001 - Based on financial statements as of December 31, 2000
(In thousands)
Name of Entity: Storm Lake Power Partners Trinidad and Tobago Woodstock Hills LLC
Methanol Company Limited
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $176,795 $3,512 $8,892
Revenues $10,732 $456 $720
Net Income (Loss) ($5,220) $412 ($279)
Ownership Interest(s): 99.00% by Mission Iowa 1.0% by Edison Capital 75.00% by Mission Funding
Wind Company LAI (Bermuda) Ltd. Zeta
331
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Associated Calabasas Carol Stream
Southern Palatino, Inc. Developers G.P.
Investment Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $8 ($2)
Receivables - net 15,871 1,853
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 15,879 1,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (11,236)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments (870)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (12,106)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 3,632
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 3,632
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,405 $1,851
============================================================= ==================== ==================== ====================
332
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Centrelake Irwindale Land Mission Airport
Partners LP Company (Inactive) Park Development
Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1
============================================================= ==================== ==================== ====================
333
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Industrial Mission-Oceangate Mission/Ontario,
Constructors, Inc. Inc. (Inactive)
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $36
Receivables - net 33,893
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 33,929
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 23,336
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 23,336
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 369
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 369
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $57,634
============================================================= ==================== ==================== ====================
334
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission South Bay Mission Texas Mission Vacaville
Company (Inactive) Property Holdings, LP
Inc. (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3
Receivables - net 25,651
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets (156)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 25,498
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 19,434
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 19,434
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 8
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 8
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $44,940
============================================================= ==================== ==================== ====================
335
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Land Consolidating Mission Land
Company Adjustments Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,709 $3,754
Receivables - net 146,194 ($208,425) 15,038
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 154 (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 150,057 (208,425) 18,790
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (25,720) (2,072) 3,742
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments 71,508 (70,638)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 45,788 (72,710) 3,742
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges (211) 3,798
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (211) 3,798
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $195,634 ($281,135) $26,330
============================================================= ==================== ==================== ====================
336
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Associated Calabasas Carol Stream
Southern Palatino, Inc. Developers G.P.
Investment Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,729
Accrued taxes (1) ($2)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,728 (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (46) (3,871)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (46) (3,871)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1
Additional paid-in capital 1,240
Accumulated other comprehensive income (loss) $2,174
Retained earnings 4,482 ($2,174) 5,724
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,723 5,724
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,405 $1,851
============================================================= ==================== ==================== ====================
337
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Centrelake Irwindale Land Mission Airport
Partners LP Company (Inactive) Park Development
Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) $2,041 ($6,794) $3,681
Retained earnings (2,040) $6,794 ($3,681)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1
============================================================= ==================== ==================== ====================
338
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Industrial Mission-Oceangate Mission/Ontario,
Constructors, Inc. Inc. (Inactive)
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $634
Accrued taxes (120)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 5,906
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 6,420
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 26,752
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 26,752
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) $1 ($8,187)
Retained earnings ($1) 24,462 $8,187
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 24,462
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $57,634
============================================================= ==================== ==================== ====================
339
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission South Bay Mission Texas Mission Vacaville
Company (Inactive) Property Holdings, LP
Inc. (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $860
Accrued taxes 44
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,442
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,346
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 13,315
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 13,315
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) ($92) $745
Retained earnings $92 ($745) 29,279
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 29,279
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $44,940
============================================================= ==================== ==================== ====================
340
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Land Consolidating Mission Land
Company Adjustments Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $68,499 ($70,193) $1,529
Accrued taxes (73) (152)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 2,323 (8,754) 917
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 70,749 (78,947) 2,294
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits 5,224 (1,698) 3,526
Other long-term liabilities 95,772 (130,851) 1,071
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 100,996 (132,549) 4,597
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1 (2)
Additional paid-in capital (28,905) 48,158 20,493
Accumulated other comprehensive income (loss) (2,770) 9,201
Retained earnings 55,563 (126,996) (1,054)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 23,889 (69,639) 19,439
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $195,634 ($281,135) $26,330
============================================================= ==================== ==================== ====================
341
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Associated Calabasas Carol Stream
Southern Palatino, Inc. Developers G.P.
Investment Company (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $12,819
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 12,819
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 11,424
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes (5) $3
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 11,419 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 1,400 (3)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 1,400 (3)
Income taxes (benefit) 553
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 847 (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 847 (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 3,635 ($2,174) 5,727
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,482 ($2,174) $5,724
=============================================================== ==================== ==================== ====================
342
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Centrelake Irwindale Land Mission Airport
Partners LP Company (Inactive) Park Development
Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance ($130) $1,023
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (130) 1,023
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 130 (1,023)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 130 (1,023)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 130 (1,023)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 130 (1,023)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (2,170) $6,794 (2,658)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($2,040) $6,794 ($3,681)
=============================================================== ==================== ==================== ====================
343
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Industrial Mission-Oceangate Mission/Ontario,
Constructors, Inc. Inc. (Inactive)
(Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $29,953
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 29,953
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 29,247 $7
Depreciation, decommissioning and amortization 80
Write-down of nonutility assets
Property and other taxes 701
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 30,028 7
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (75) (7)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (75) (7)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (75) (7)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (75) (7)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1) 24,537 8,194
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1) $24,462 $8,187
=============================================================== ==================== ==================== ====================
344
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission South Bay Mission Texas Mission Vacaville
Company (Inactive) Property Holdings, LP
Inc. (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $25,217
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 25,217
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance ($186) 25,620
Depreciation, decommissioning and amortization 29
Write-down of nonutility assets
Property and other taxes 399
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (186) 26,048
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 186 (831)
Interest and dividend income 1
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 186 (830)
Income taxes (benefit) 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 186 (831)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 186 (831)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year $92 (931) 30,110
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $92 ($745) $29,279
=============================================================== ==================== ==================== ====================
345
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Land Consolidating Mission Land
Company Adjustments Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $5,717 $1 $73,707
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,717 1 73,707
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 7,199 (1,068) 73,136
Depreciation, decommissioning and amortization 109
Write-down of nonutility assets 140 1,238
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,339 (1,068) 74,483
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (1,622) 1,069 (776)
Interest and dividend income 909 (1) 909
Other nonoperating income 1 1
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (712) 1,068 134
Income taxes (benefit) 337 891
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (1,049) 1,068 (757)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,049) 1,068 (757)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 56,612 (128,064) (297)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $55,563 ($126,996) ($1,054)
=============================================================== ==================== ==================== ====================
346
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Associated Mission Power Consolidating
Southern Engineering Company Adjustments
Engineering
Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges $5
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 5
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5
============================================================= ==================== ==================== ====================
347
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Power
Engineering
Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges $5
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 5
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5
============================================================= ==================== ==================== ====================
348
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Associated Mission Power Consolidating
Southern Engineering Company Adjustments
Engineering
Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities $150
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 150
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 8,709
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 8,709
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 3,000
Additional paid-in capital $3 ($3)
Accumulated other comprehensive income (loss)
Retained earnings ($3) (11,854) $3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (8,854)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5
============================================================= ==================== ==================== ====================
349
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Power
Engineering
Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities $150
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 150
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 8,709
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 8,709
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 3,000
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (11,854)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (8,854)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5
============================================================= ==================== ==================== ====================
350
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Associated Mission Power Consolidating
Southern Engineering Company Adjustments
Engineering
Company (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit) $6
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (6)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($3) (11,848) $3
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($3) ($11,854) $3
=============================================================== ==================== ==================== ====================
351
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Statements of Income (Loss) and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Power
Engineering
Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit) $6
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (6)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (11,848)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($11,854)
=============================================================== ==================== ==================== ====================
352
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Aguila Energy Anacapa Energy Arrowhead Energy
Company Company Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 19,895
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 19,895
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $19,899
============================================================= ==================== ==================== ====================
353
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Balboa Energy Blue Ridge Energy Bretton Woods
Company Company Energy Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
354
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Camino Energy Capistrano Centerport Energy
Company Cogeneration Company
Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $329 $5
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 41
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 370 5
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 166,629 5,794
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 166,629 5,794
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 337
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 337
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $167,336 $5,799
============================================================= ==================== ==================== ====================
355
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Chesapeake Bay Chester Energy Clayville Energy
Energy Company Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
356
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Colonial Energy Coronado Energy Crescent Valley
Company (Inactive) Company Energy Company
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
357
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Del Mar Energy Delaware Energy Desert Sunrise
Company Conservers, Inc. Energy Company
(Inactive) (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1
Receivables - net 1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 13,348
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 13,348
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,353
============================================================= ==================== ==================== ====================
358
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Devereaux Energy Eastern Sierra East Maine Energy
Company Energy Company Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
359
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Alabama Edison Mission Edison Mission
Generating Company Development, Inc. Energy Fuel
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $4,793
Receivables - net 4,955
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 9,748
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $113,072
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 113,072
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 74,475
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 74,475
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $84,223 $113,072
============================================================= ==================== ==================== ====================
360
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Funding Energy Interface Energy Services,
Corp. Ltd. Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $406
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 406
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 586
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $355
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 355 586
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges $15,370
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 15,370
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $15,370 $355 $992
============================================================= ==================== ==================== ====================
361
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Fuel Resources, Fuel Marketing and
Inc. Transportation, Trading, Inc.
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $38,006
Receivables - net 69,157
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets 50,975
Prepayments and other current assets 1,093
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 159,231
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,042
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 45
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,087
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 27,867
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 27,867
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $193,185
============================================================= ==================== ==================== ====================
362
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Holdings Co. Operation and Project Co.
Consolidated Maintenance, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $38,501 $302
Receivables - net 236 5,666
Fuel inventory 24,752
Materials and supplies, at average cost 22,726
Accumulated deferred income taxes - net
Trading and price risk management assets 14
Prepayments and other current assets 39,457
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 125,686 5,968
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 416,579 5
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $563,374
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 416,579 5 563,374
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 137,892 52
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 137,892 52
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $680,157 $6,025 $563,374
============================================================= ==================== ==================== ====================
363
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
El Dorado Energy EME CP Holdings EME Eastern
Company Co. Consolidated Holdings Co.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $26
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 17,040
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 17,040
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $17,066
============================================================= ==================== ==================== ====================
364
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EMP Inc. (Inactive) Four Counties Gas Global Power
Company (Inactive) Investors, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
365
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Hanover Energy Holtsville Energy Indian Bay Energy
Company Company Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $35
Receivables - net 133
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 168
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 7,332
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 7,332
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,500
============================================================= ==================== ==================== ====================
366
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Jefferson Energy Kings Canyon Kingspark Energy
Company (Inactive) Energy Company Company
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
367
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Laguna Energy La Jolla Energy Lakeview Energy
Company (Inactive) Company (Inactive) Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
368
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Lehigh River Longview Madera Energy
Energy Company Cogeneration Company
(Inactive) Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
369
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Madison Energy Majestic Energy Midwest Generation
Company Limited EME, LLC
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $153 $115,548
Receivables - net 71,547
Fuel inventory 80,042
Materials and supplies, at average cost 17,718
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 8,005
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 153 292,860
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,852,844
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $29,678
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 29,678 3,852,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 16,827
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 16,827
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $29,678 $153 $4,162,531
============================================================= ==================== ==================== ====================
370
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Midwest Peaker Mission Capital LP Mission Del Cielo
Holdings, Inc. Inc. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $360
Receivables - net $2,042 392
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2,042 752
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (59,901)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (59,901)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 255,000
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 255,000
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $257,042 ($59,149)
============================================================= ==================== ==================== ====================
371
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission/Eagle Mission Energy Mission Energy
Energy Company Construction Generation, Inc.
(Inactive) Services, Inc. (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,537
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,537
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,537
============================================================= ==================== ==================== ====================
372
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission Energy Mission Energy
Holdings, Inc. Holdings Indonesia
International Inc. (Inactive)
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $161,501
Receivables - net 172,532
Fuel inventory 5,331
Materials and supplies, at average cost 16,839
Accumulated deferred income taxes - net
Trading and price risk management assets 52,488
Prepayments and other current assets 13,798
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 422,489
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,237,542
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($1) 1,259,081
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (1) 4,496,623
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 619,070
Regulatory assets - net
Other deferred charges 5,042 63,071
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 5,042 682,141
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,041 $5,601,253
============================================================= ==================== ==================== ====================
373
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission Energy New Mission Energy
Mexico (Inactive) York, Inc. Wales Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $33
Receivables - net 244
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 277
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 84,996 $221,039
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 84,996 221,039
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $85,273 $221,039
============================================================= ==================== ==================== ====================
374
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Operations Mission Triple North Jackson
de Mexico, S.A. de Cycle Systems Energy Company
C.V. Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
375
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Northern Sierra Ortega Energy Panther Timber
Energy Company Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
376
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Paradise Energy Pleasant Valley Prince George
Company (Inactive) Energy Company Energy Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $8
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 8
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 48
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 48
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $56
============================================================= ==================== ==================== ====================
377
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Quartz Peak Energy Rapidan Energy Reeves Bay Energy
Company Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $178 $27
Receivables - net 126
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 178 153
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 658
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 658
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $178 $811
============================================================= ==================== ==================== ====================
378
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Ridgecrest Energy Rio Escondido Riverport Energy
Company Energy Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
379
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
San Gabriel Energy San Joaquin Energy San Juan Energy
Company (Inactive) Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $43 $44 $4
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 21 18
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 43 65 22
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 76,748 29,228
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 76,748 29,228
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 114
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 114
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $43 $76,927 $29,250
============================================================= ==================== ==================== ====================
380
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
San Pedro Energy Santa Ana Energy Santa Clara Energy
Company Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
381
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Silverado Energy Silver Springs Sonoma Geothermal
Company Energy Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1
Receivables - net 1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 8
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 17,993
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 17,993
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $18,003
============================================================= ==================== ==================== ====================
382
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
South Coast Energy Southern Sierra Thorofare Energy
Company Energy Company Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $6
Receivables - net $369 19
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 22
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 369 47
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 25,578 93,532
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 25,578 93,532
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 189
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 189
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $25,947 $93,768
============================================================= ==================== ==================== ====================
383
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Viejo Energy Vista Energy Western Sierra
Company Company (Inactive) Energy Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1 $6
Receivables - net 9
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 3 17
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4 32
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 20,301 119,503
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 20,301 119,503
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 246
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 246
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $20,305 $119,781
============================================================= ==================== ==================== ====================
384
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Consolidating Edison Mission
Energy Adjustments Energy Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $12,652 $372,139
Receivables - net 230,694 ($9,480) 549,474
Fuel inventory (1) 110,124
Materials and supplies, at average cost (1) 57,282
Accumulated deferred income taxes - net
Trading and price risk management assets (38,748) 64,729
Prepayments and other current assets 2,279 15,774 80,542
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 245,625 (32,456) 1,234,290
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 33,266 (1,309,301) 6,237,563
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 6,098,192 (7,099,154) 1,829,940
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,131,458 (8,408,455) 8,067,503
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 619,070
Regulatory assets - net
Other deferred charges 41,325 171,355 655,552
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 41,325 171,355 1,274,622
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 153,610
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,418,408 ($8,269,556) $10,730,025
============================================================= ==================== ==================== ====================
385
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Aguila Energy Anacapa Energy Arrowhead Energy
Company Company Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($32,657) $2,958
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (32,657) 2,958
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 33,642 1,989 ($53)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 33,642 1,989 (53)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 7,867 11,393 41
Accumulated other comprehensive income (loss)
Retained earnings (8,852) 3,559 12
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($985) 14,952 $53
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $19,899
============================================================= ==================== ==================== ====================
386
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Balboa Energy Blue Ridge Energy Bretton Woods
Company Company Energy Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($52)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (52)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($4) ($5) 52
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (4) (5) $52
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 14 14
Accumulated other comprehensive income (loss)
Retained earnings (10) (9)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $4 $5
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
387
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Camino Energy Capistrano Centerport Energy
Company Cogeneration Company
Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $90,299 $5,909 ($44)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 90,299 5,909 (44)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 20,517 13,050 44
Accumulated deferred investment tax credits 7,140 1,895
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 27,657 14,945 $44
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 48,506
Accumulated other comprehensive income (loss) (104)
Retained earnings 874 (14,951)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 49,380 (15,055)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $167,336 $5,799
============================================================= ==================== ==================== ====================
388
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Chesapeake Bay Chester Energy Clayville Energy
Energy Company Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 1,518 $142 $6
Accumulated other comprehensive income (loss)
Retained earnings ($1,518) ($142) ($6)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
389
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Colonial Energy Coronado Energy Crescent Valley
Company (Inactive) Company Energy Company
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $41
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 41
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (38)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (38)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital $4 $6 814
Accumulated other comprehensive income (loss)
Retained earnings ($4) ($6) (817)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
390
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Del Mar Energy Delaware Energy Desert Sunrise
Company Conservers, Inc. Energy Company
(Inactive) (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $2,200
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,200
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,956 ($9)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,956 (9)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 7,142 $2 4
Accumulated other comprehensive income (loss)
Retained earnings 2,055 ($2) 5
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 9,197 $9
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,353
============================================================= ==================== ==================== ====================
391
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Devereaux Energy Eastern Sierra East Maine Energy
Company Energy Company Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $2,421
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 4,004
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 4,004
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital $8
Accumulated other comprehensive income (loss)
Retained earnings (6,425) ($8)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($6,425)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
392
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Alabama Edison Mission Edison Mission
Generating Company Development, Inc. Energy Fuel
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $10,797 ($12,570)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 25,402 645
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 36,199 (11,925)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (10,248) 16,297
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (10,248) 16,297
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 71,849 89,032
Accumulated other comprehensive income (loss)
Retained earnings (13,577) 19,668
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 58,272 108,700
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $84,223 $113,072
============================================================= ==================== ==================== ====================
393
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Funding Energy Interface Energy Services,
Corp. Ltd. Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $44,460
Preferred stock to be redeemed within one year
Accounts payable (270,790) $48 $403
Accrued taxes 4
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 5,915
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (220,415) 52 403
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 235,785
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (3)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 315 712
Accumulated other comprehensive income (loss) (75)
Retained earnings 63 (120)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 303 592
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $15,370 $355 $992
============================================================= ==================== ==================== ====================
394
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Fuel Resources, Fuel Transpor Marketing and
Inc. tation, Inc. Trading, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $76,052
Accrued taxes (177)
Regulatory liabilities - net
Trading and price risk management liabilities 46,875
Other current liabilities 5,551
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 128,301
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (6,062)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 5,151
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (911)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 60,912
Accumulated other comprehensive income (loss)
Retained earnings 4,883
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 65,795
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $193,185
============================================================= ==================== ==================== ====================
395
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Holdings Co. Operation and Project Co.
Consolidated Maintenance, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($75,215) ($20,188)
Accrued taxes 4,598
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 21,474 8,394
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (49,143) (11,794)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 11,650 (2,102)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 18,896
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 30,546 (2,102)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 626,542 13,946 $563,374
Accumulated other comprehensive income (loss)
Retained earnings 72,212 5,975
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 698,754 19,921 563,374
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $680,157 $6,025 $563,374
============================================================= ==================== ==================== ====================
396
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
El Dorado Energy EME CP Holdings EME Eastern
Company Co. Consolidated Holdings Co.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $272 $947 $417
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 272 947 417
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 100
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,542) (44) (42)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (1,542) (44) (42)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 9,217 15,190
Accumulated other comprehensive income (loss)
Retained earnings (7,947) (903) 1,401
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $1,270 ($903) 16,591
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $17,066
============================================================= ==================== ==================== ====================
397
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EMP, Inc. Four Counties Gas Global Power
(Inactive) Company (Inactive) Investors, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($8,230)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (8,230)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 8,800
Additional paid-in capital 480 $6
Accumulated other comprehensive income (loss)
Retained earnings (1,050) ($6)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $8,230
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
398
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Hanover Energy Holtsville Energy Indian Bay Energy
Company Company Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $734 ($169) ($38)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 734 (169) (38)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 5,779 169 38
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 5,779 169 $38
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 3,398 896
Accumulated other comprehensive income (loss) (1,813)
Retained earnings (598) ($896)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 987
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,500
============================================================= ==================== ==================== ====================
399
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Jefferson Energy Kings Canyon Kingspark Energy
Company (Inactive) Energy Company Company
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $24 $1,259
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 24 1,259
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (23) (1,259)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (23) ($1,259)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital $6
Accumulated other comprehensive income (loss)
Retained earnings (1) ($6)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
400
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Laguna Energy La Jolla Energy Lakeview Energy
Company (Inactive) Company (Inactive) Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,002)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,002)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 372
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 687
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 687
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 1,695 $6 $6
Accumulated other comprehensive income (loss)
Retained earnings (1,752) ($6) ($6)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($57)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
401
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Lehigh River Longview Madera Energy
Energy Company Cogeneration Company
(Inactive) Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $5
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,674) ($5)
Accumulated deferred investment tax credits 6
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (1,668) (5)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 10,227 $6 14
Accumulated other comprehensive income (loss)
Retained earnings (8,564) ($6) (9)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $1,663 $5
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
402
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Madison Energy Majestic Energy Midwest Generation
Company Limited EME, LLC
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,501 $1,548 ($1,769,576)
Accrued taxes 2,056 35
Regulatory liabilities - net
Trading and price risk management liabilities 8,401
Other current liabilities 107 141,954
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,501 3,711 (1,619,186)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 3,048,129
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 5,565 81,642
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 182,809
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 5,565 264,451
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 304,894
Additional paid-in capital 21,920 2,456,512
Accumulated other comprehensive income (loss) (1,568) 393
Retained earnings 2,260 (308,845) 12,625
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 22,612 (3,558) 2,469,137
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $29,678 $153 $4,162,531
============================================================= ==================== ==================== ====================
403
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Midwest Peaker Mission Capital LP Mission Del Cielo,
Holdings, Inc. Inc. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $5,271 ($154,638) $5,019
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5,271 (154,639) 5,019
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (251) 1,063
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (251) 1,063
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 150,000
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 150,000
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (1) 2
Additional paid-in capital 249,033 4,641 (73,626)
Accumulated other comprehensive income (loss)
Retained earnings 2,989 (1) 8,393
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 252,022 $4,639 (65,231)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $257,042 ($59,149)
============================================================= ==================== ==================== ====================
404
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission/Eagle Mission Energy Mission Energy
Energy Company Construction Generation, Inc.
(Inactive) Services, Inc. (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $15
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 15
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net $1 693
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1 693
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 2 4,842
Accumulated other comprehensive income (loss)
Retained earnings (3) (13)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($1) 4,829
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,537
============================================================= ==================== ==================== ====================
405
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission Energy Mission Energy
Holdings, Inc. Holdings Indonesia
International Inc. (Inactive)
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $88,241
Long-term debt classified as due within one year 45,835
Preferred stock to be redeemed within one year
Accounts payable ($172) 143,999
Accrued taxes (9,616)
Regulatory liabilities - net
Trading and price risk management liabilities 7,532
Other current liabilities 82,654
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (172) 358,645
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 2,119,257
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 286 325,476
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 438,930
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 286 764,406
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 493,234
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 133,131
Additional paid-in capital 6,267 3,375,090
Accumulated other comprehensive income (loss) (300,385)
Retained earnings (1,340) (1,501,920)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 4,927 1,705,916
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,041 $5,601,253
============================================================= ==================== ==================== ====================
406
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission Energy New Mission Energy
Mexico (Inactive) York, Inc. Wales Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $112,873 ($121,641)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 112,873 (121,641)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net $5 28,452 241,531
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 5 28,452 241,531
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 1,138 27,502 69,272
Accumulated other comprehensive income (loss)
Retained earnings (1,143) (83,554) 31,877
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($5) (56,052) 101,149
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $85,273 $221,039
============================================================= ==================== ==================== ====================
407
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Operations Mission Triple North Jackson
de Mexico, S.A. de Cycle Systems Energy Company
C.V. Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($175)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (175)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 176 $3
Accumulated other comprehensive income (loss)
Retained earnings (1) ($3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $ 175
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
408
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Northern Sierra Ortega Energy Panther Timber
Energy Company Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($473)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (473)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital $1 $7 473
Accumulated other comprehensive income (loss)
Retained earnings ($1) ($7)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $473
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
409
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Paradise Energy Pleasant Valley Prince George
Company (Inactive) Energy Company Energy Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($3,923) ($2,765)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3,923) (2,765)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,982 975
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 3,982 975
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 3,229
Accumulated other comprehensive income (loss)
Retained earnings (59) (1,383)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($59) 1,846
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $56
============================================================= ==================== ==================== ====================
410
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Quartz Peak Energy Rapidan Energy Reeves Bay Energy
Company Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $197
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 197
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,167)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (1,167)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital $8,642 3,947 $672
Accumulated other comprehensive income (loss) (16)
Retained earnings (8,464) (2,150) ($672)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 178 1,781
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $178 $811
============================================================= ==================== ==================== ====================
411
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Ridgecrest Energy Rio Escondido Riverport Energy
Company Energy Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($113) ($52)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (113) (52)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($5) 116 52
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (5) 116 $52
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 14
Accumulated other comprehensive income (loss)
Retained earnings (9) (3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $5 ($3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
412
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
San Gabriel Energy San Joaquin Energy San Juan Energy
Company (Inactive) Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($5,754) $53,176 $2,408
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (5,754) 53,176 2,408
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (143) 8,988 4,559
Accumulated deferred investment tax credits 2,453
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (143) 11,441 4,559
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 2,220 10,188 5,455
Accumulated other comprehensive income (loss)
Retained earnings 3,720 2,122 16,828
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,940 12,310 22,283
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $43 $76,927 $29,250
============================================================= ==================== ==================== ====================
413
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
San Pedro Energy Santa Ana Energy Santa Clara Energy
Company Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($5) ($4)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (5) (4)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 14 13 $7
Accumulated other comprehensive income (loss)
Retained earnings (9) (9) ($7)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $5 $4
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
414
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Silverado Energy Silver Springs Sonoma Geothermal
Company Energy Company Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,986 $118
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,986 118
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,445 (319)
Accumulated deferred investment tax credits 22
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,445 (297)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 10,280 $6 3,445
Accumulated other comprehensive income (loss)
Retained earnings 4,292 ($6) (3,266)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 14,572 $179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $18,003
============================================================= ==================== ==================== ====================
415
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
South Coast Energy Southern Sierra Thorofare Energy
Company Energy Company Company (Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $5,677 $39,130 ($23)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5,677 39,130 (23)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,153 5,879 26
Accumulated deferred investment tax credits 621 3,239
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,774 9,118 26
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 6,948 44,380
Accumulated other comprehensive income (loss)
Retained earnings 11,548 1,140 (3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 18,496 45,520 ($3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $25,947 $93,768
============================================================= ==================== ==================== ====================
416
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Viejo Energy Vista Energy Western Sierra
Company Company (Inactive) Energy Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $2,726 ($1,713) $52,355
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,726 (1,047) 52,355
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,942 1,047 11,545
Accumulated deferred investment tax credits 3,492
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,942 1,047 15,037
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 11,700 $1,097 51,314
Accumulated other comprehensive income (loss)
Retained earnings 3,937 ($1,097) 1,075
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 15,637 52,389
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $20,305 $119,781
============================================================= ==================== ==================== ====================
417
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Consolidating Edison Mission
Energy Adjustments Energy Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $80,000 $168,241
Long-term debt classified as due within one year 100,000 190,295
Preferred stock to be redeemed within one year
Accounts payable 2,036,674 ($2,364) 175,769
Accrued taxes 10,243 10,460 17,603
Regulatory liabilities - net
Trading and price risk management liabilities (1,839) (38,588) 22,381
Other current liabilities 90,780 (48,184) 335,357
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,315,858 (78,676) 909,646
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,674,638 (1,328,821) 5,749,460
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 67,700 39,091 917,434
Accumulated deferred investment tax credits (2) 18,866
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits 39,331 39,331
Other long-term liabilities 53,593 165,354 920,578
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 160,622 204,445 1,896,209
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest (149,142) 344,092
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures 150,000
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 253,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 64,131 (446,827) 64,130
Additional paid-in capital 2,638,828 (7,859,636) 2,631,326
Accumulated other comprehensive income (loss) 107,983 (106,235) (301,820)
Retained earnings (543,652) 1,495,336 (816,968)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,267,290 (6,917,362) 1,576,668
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,418,408 ($8,269,556) $10,730,025
============================================================= ==================== ==================== ====================
418
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Aguila Energy Anacapa Energy Arrowhead Energy
Company Company Company
(Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $3,622
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 3,622
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 26
Depreciation, decommissioning and amortization 68
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 94
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 3,528
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 3,528
Income taxes (benefit) $79 1,365
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (79) 2,163
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (79) 2,163
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (8,773) 1,396 $12
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,852) $3,559 $12
=============================================================== ==================== ==================== ====================
419
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Balboa Energy Blue Ridge Energy Bretton Woods
Company Company Energy Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($10) ($9)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($10) ($9)
=============================================================== ==================== ==================== ====================
420
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Camino Energy Capistrano Centerport Energy
Company Cogeneration Company
Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $72,387 $7,930
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 72,387 7,930
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 232 23,972
Depreciation, decommissioning and amortization 575 6
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 807 23,978
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 71,580 (16,048)
Interest and dividend income (1,457)
Other nonoperating income (45)
Interest expense - net of amounts capitalized (138)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 69,940 (16,048)
Income taxes (benefit) 26,906 3,047
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 43,034 (19,095)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 43,034 (19,095)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (42,160) 4,144
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $874 ($14,951)
=============================================================== ==================== ==================== ====================
421
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Chesapeake Bay Chester Energy Clayville Energy
Energy Company Company Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1,518) ($142) ($6)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,518) ($142) ($6)
=============================================================== ==================== ==================== ====================
422
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Colonial Energy Coronado Energy Crescent Valley
Company (Inactive) Company Energy Company
(Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($4) ($6) ($817)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4) ($6) ($817)
=============================================================== ==================== ==================== ====================
423
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Del Mar Energy Delaware Energy Desert Sunrise
Company Conservers, Inc. Energy Company
(Inactive) (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $5,241
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,241
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 25
Depreciation, decommissioning and amortization 14
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 39
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 5,202
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 5,202
Income taxes (benefit) 2,004
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 3,198
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 3,198
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,143) ($2) $5
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,055 ($2) $5
=============================================================== ==================== ==================== ====================
424
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Devereaux Energy Eastern Sierra East Maine Energy
Company Energy Company Company (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $5,715
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,715
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 103
Depreciation, decommissioning and amortization 153
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 5,459
Interest and dividend income
Other nonoperating income 97
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 5,556
Income taxes (benefit) (1,932)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 7,488
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 7,488
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($6,425) 2,772 ($8)
Dividends declared on common stock ($10,260)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6,425) ($8)
=============================================================== ==================== ==================== ====================
425
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Alabama Edison Mission Edison Mission
Generating Company Development, Inc. Energy Fuel
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $87,942
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 87,942
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $25,389
Depreciation, decommissioning and amortization 1,669
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 25,389 1,669
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (25,389) 86,273
Interest and dividend income 2,627 (29)
Other nonoperating income (6)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (22,768) 86,244
Income taxes (benefit) (9,191) 24,005
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (13,577) 62,239
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (13,577) 62,239
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (35,406)
Dividends declared on common stock (7,165)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($13,577) $19,668
=============================================================== ==================== ==================== ====================
426
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Funding Energy Interface Energy Services,
Corp. Ltd Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $16
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 16
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 4 $1,248
Depreciation, decommissioning and amortization 247
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4 1,495
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 12 (1,495)
Interest and dividend income $21,998 1
Other nonoperating income 1,653
Interest expense - net of amounts capitalized ($21,998)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 12 159
Income taxes (benefit) 5 68
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 7 91
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 7 91
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 56 (211)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $63 ($120)
=============================================================== ==================== ==================== ====================
427
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Fuel Resources, Fuel Transpor Marketing and
Inc. tation, Inc. Trading, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $10,010
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 10,010
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 28,220
Depreciation, decommissioning and amortization 5,040
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 33,260
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (23,250)
Interest and dividend income 2,171
Other nonoperating income (201)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (21,280)
Income taxes (benefit) (9,221)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (12,059)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (12,059)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 16,942
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,883
=============================================================== ==================== ==================== ====================
428
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Holdings Co. Operation and Project Co.
Consolidated Maintenance, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $494,098 $24,062
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 494,098 24,062
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 168,814
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 90,027 21,617
Depreciation, decommissioning and amortization 48,660
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 307,501 21,617
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 186,597 2,445
Interest and dividend income 2,201 284
Other nonoperating income 14,721 (42)
Interest expense - net of amounts capitalized (77,000)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 126,519 2,687
Income taxes (benefit) 52,101 1,048
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 74,418 1,639
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 74,418 1,639
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 26,282 4,336
Dividends declared on common stock (28,488)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $72,212 $5,975
=============================================================== ==================== ==================== ====================
429
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
El Dorado Energy EME CP Holdings EME Eastern
Company Co. Consolidated Holdings Co.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,348 $2,276
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,348 2,276
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2,348 2,276
Interest and dividend income
Other nonoperating income (1)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,348 2,275
Income taxes (benefit) 903 875
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,445 1,400
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,445 1,400
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($7,947) 445
Dividends declared on common stock (2,348) (444)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($7,947) ($903) $1,401
=============================================================== ==================== ==================== ====================
430
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EMP, Inc. Four Counties Gas Global Power
(Inactive) Company (Inactive) Investors, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1,050) ($6)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,050) ($6)
=============================================================== ==================== ==================== ====================
431
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Hanover Energy Holtsville Energy Indian Bay Energy
Company Company Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,989
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,989
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,487
Depreciation, decommissioning and amortization 126
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,613
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 376
Interest and dividend income
Other nonoperating income 2
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 378
Income taxes (benefit) 753
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (375)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (375)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 637 ($896)
Dividends declared on common stock (860)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($598) ($896)
=============================================================== ==================== ==================== ====================
432
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Jefferson Energy Kings Canyon Kingspark Energy
Company (Inactive) Energy Company Company
(Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1) ($6)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1) ($6)
=============================================================== ==================== ==================== ====================
433
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Laguna Energy La Jolla Energy Lakeview Energy
Company (Inactive) Company (Inactive) Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized ($15)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (15)
Income taxes (benefit) (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (9)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (9)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,743) ($6) ($6)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,752) ($6) ($6)
=============================================================== ==================== ==================== ====================
434
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Lehigh River Longview Madera Energy
Energy Company Cogeneration Company
Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income ($1)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (1)
Income taxes (benefit) 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (5)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (5)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (8,559) ($6) ($9)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,564) ($6) ($9)
=============================================================== ==================== ==================== ====================
435
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Madison Energy Majestic Energy Midwest Generation
Company Limited EME, LLC
Consolidated Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $3,856 $82 $1,068,695
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 3,856 82 1,068,695
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 365,638
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,183 294 465,957
Depreciation, decommissioning and amortization 132 (476) 143,143
Property and other taxes 9
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,315 (182) 974,747
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2,541 264 93,948
Interest and dividend income 131,503
Other nonoperating income 799 (875)
Interest expense - net of amounts capitalized (5,026) (196,554)
Other nonoperating deductions (2,781)
Dividends on preferred securities (85)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,541 (6,829) 28,022
Income taxes (benefit) 1,447 14,537
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,094 (6,829) 13,485
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,094 (6,829) 13,485
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 1,166 (280,554) (863)
Dividends declared on common stock (21,462) 3
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,260 ($308,845) $12,625
=============================================================== ==================== ==================== ====================
436
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Midwest Peaker Mission Capital LP Mission Del Cielo,
Holdings, Inc. Inc. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $13,769
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 13,769
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization 46
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 46
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 13,723
Interest and dividend income $13,500 $13,953
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities (13,953)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 13,500 13,723
Income taxes (benefit) 5,190 5,330
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 8,310 8,393
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 8,310 8,393
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (5,321) (1)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,989 ($1) $8,393
=============================================================== ==================== ==================== ====================
437
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission/Eagle Mission Energy Mission Energy
Energy Company Construction Generation, Inc.
(Inactive) Services, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($3) ($13)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($3) ($13)
=============================================================== ==================== ==================== ====================
438
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Mission Energy Mission Energy
Holdings, Inc. Holdings Indonesia
International Inc. (Inactive)
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $973,772
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 973,772
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 382,396
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 226,283
Depreciation, decommissioning and amortization 104,041
Property and other taxes 188
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 712,908
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 260,864
Interest and dividend income 12,813
Other nonoperating income 26,011
Interest expense - net of amounts capitalized (217,919)
Other nonoperating deductions (34,291)
Dividends on preferred securities ($218) (8,014)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (218) 39,464
Income taxes (benefit) (84) 44,944
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (134) (5,480)
Loss from discontinued operations (1,921,401)
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations (745,086)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (134) (1,181,795)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,206) 552,155
Dividends declared on common stock (872,280)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,340) ($1,501,920)
=============================================================== ==================== ==================== ====================
439
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Mission Energy New Mission Energy
Mexico (Inactive) York, Inc. Wales Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($1,094) $12,189
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (1,094) 12,189
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,173 14
Depreciation, decommissioning and amortization 1,271
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2,444 14
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (3,538) 12,175
Interest and dividend income (18,412) 4,723
Other nonoperating income 179 (104)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (21,771) 16,794
Income taxes (benefit) (8,216) 8,539
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (13,555) 8,255
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (13,555) 8,255
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1,143) (69,999) 23,622
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,143) ($83,554) $31,877
=============================================================== ==================== ==================== ====================
440
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Operations Mission Triple North Jackson
de Mexico, S.A. de Cycle Systems Energy Company
C.V. Company (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1) ($3)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1) ($3)
=============================================================== ==================== ==================== ====================
441
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Northern Sierra Ortega Energy Panther Timber
Energy Company Company Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1) ($7)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1) ($7)
=============================================================== ==================== ==================== ====================
442
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Paradise Energy Pleasant Valley Prince George
Company (Inactive) Energy Company Energy Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $767
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 767
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance ($5)
Depreciation, decommissioning and amortization 307
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (5) 307
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 5 460
Interest and dividend income
Other nonoperating income 2 60
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 7 520
Income taxes (benefit) 3 (4,289)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 4 4,809
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 4 4,809
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($59) (1,387) 2,426
Dividends declared on common stock ($7,235)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($59) ($1,383)
=============================================================== ==================== ==================== ====================
443
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Quartz Peak Energy Rapidan Energy Reeves Bay Energy
Company Company Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,331 $79
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,331 79
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 235 24
Depreciation, decommissioning and amortization 46 4
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 281 28
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 1,050 51
Interest and dividend income 52
Other nonoperating income 15
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 1,102 66
Income taxes (benefit) (3,813) 35
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 4,915 31
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 4,915 31
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (13,379) (2,181) ($672)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,464) ($2,150) ($672)
=============================================================== ==================== ==================== ====================
444
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Ridgecrest Energy Rio Escondido Riverport Energy
Company Energy Company Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income $7
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 7
Income taxes (benefit) 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 4
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($9) (7)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9) ($3)
=============================================================== ==================== ==================== ====================
445
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
San Gabriel Energy San Joaquin Energy San Juan Energy
Company (Inactive) Company Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $7,712 $27,633 $7,763
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 7,712 27,633 7,763
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 142 75
Depreciation, decommissioning and amortization 30 90
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 172 165
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 7,712 27,461 7,598
Interest and dividend income (704)
Other nonoperating income 69
Interest expense - net of amounts capitalized (47)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 7,712 26,779 7,598
Income taxes (benefit) 2,965 10,158 2,939
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 4,747 16,621 4,659
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 4,747 16,621 4,659
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,027) (14,499) 12,169
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $3,720 $2,122 $16,828
=============================================================== ==================== ==================== ====================
446
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
San Pedro Energy Santa Ana Energy Santa Clara Energy
Company Company Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($9) ($9) ($7)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9) ($9) ($7)
=============================================================== ==================== ==================== ====================
447
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Silverado Energy Silver Springs Sonoma Geothermal
Company Energy Company Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,880
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,880
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 25
Depreciation, decommissioning and amortization 50
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 75
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2,805
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,805
Income taxes (benefit) 1,084
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,721
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,721
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 2,571 ($6) ($3,266)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,292 ($6) ($3,266)
=============================================================== ==================== ==================== ====================
448
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
South Coast Energy Southern Sierra Thorofare Energy
Company Energy Company Company (Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,120 $58,230
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,120 58,230
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 7,000 209
Depreciation, decommissioning and amortization 4 58
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,004 267
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,884) 57,963
Interest and dividend income 557
Other nonoperating income 31 (25)
Interest expense - net of amounts capitalized (77)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4,853) 58,418
Income taxes (benefit) 760 22,317
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (5,613) 36,101
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (5,613) 36,101
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 17,161 (34,961) ($3)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $11,548 $1,140 ($3)
=============================================================== ==================== ==================== ====================
449
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Viejo Energy Vista Energy Western Sierra
Company Company (Inactive) Energy Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $3,879 $70,495
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 3,879 70,495
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 26 242
Depreciation, decommissioning and amortization 65 37
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 91 279
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 3,788 70,216
Interest and dividend income 1,008
Other nonoperating income (33)
Interest expense - net of amounts capitalized (101)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 3,788 71,090
Income taxes (benefit) 1,465 27,230
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,323 43,860
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2,323 43,860
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 1,614 ($1,097) (42,785)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $3,937 ($1,097) $1,075
=============================================================== ==================== ==================== ====================
450
Edison Mission Energy and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Consolidating Edison Mission
Energy Adjustments Energy Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $8,229 ($12,834) $2,967,189
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 8,229 (12,834) 2,967,189
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 916,848
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 82,453 72,662 1,050,342
Depreciation, decommissioning and amortization 10,454 (42,958) 272,902
Property and other taxes 569 766
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 93,476 29,704 2,240,858
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (85,247) (42,538) 726,331
Interest and dividend income (144,908) 842 42,730
Other nonoperating income 18,547 (17,023) 43,830
Interest expense - net of amounts capitalized (191,339) 162,723 (547,491)
Other nonoperating deductions 14,915 (22,157)
Dividends on preferred securities (22,270)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (402,947) 118,919 220,973
Income taxes (benefit) (140,891) 23,102 107,568
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (262,056) 95,817 113,405
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) 687,131 (1,234,270)
Income taxes (benefit) on discontinued operations 745,086
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (262,056) 37,862 (1,120,865)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 91,117 231,721 401,396
Dividends declared on common stock (372,713) 1,225,753 (97,499)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($543,652) $1,495,336 ($816,968)
=============================================================== ==================== ==================== ====================
451
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: American Bituminous Power American Kiln Partners, LP Bretton Woods
Partners, LP Cogeneration, LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $70,590
Revenues $13,337
Net Income (Loss) ($1,854)
Nature/Purpose of Business: To own an 80MW Currently inactive. To own and operate power
cogeneration facility in production facilities.
Grant Town, WV.
Ownership Interest(s): 49.5% by Aguila Energy 2% by Panther Timber 50% by Blue Ridge Energy
Company Company Company
0.5% by Pleasant Valley 49.5% of 53% by Aguila 50% by Bretton Woods
Energy Co. Energy Company Energy Company
0.5% of 53% by Pleasant
Valley Energy Company
Name of Entity: Brookhaven Cogeneration LP Brooklyn Navy Yard CL Power Sales One,
Cogeneration Partners, LP L.L.C. [6]
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $230,913 $17,946
Revenues $87,048
Net Income (Loss) ($13,670) $32
Nature/Purpose of Business: To own and operate power To own and operate a To own and operate power
production facilities. 286MW power production production facilities.
facility near the
Brooklyn Bridge, NY.
Ownership Interest(s): 50% by Holtsville Energy 50% by Mission Energy New 25% by Citizens Power
Company York, Inc. Holdings One, LLC
50% by Madera Energy
Company
452
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: CL Power Sales Two, CL Power Sales Six, CL Power Sales Seven,
L.L.C. [6] L.L.C. [6] L.L.C. [6]
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $27,497 $2,998 $14,673
Revenues
Net Income (Loss) $156 $27 ($17)
Nature/Purpose of Business: To own and operate power To own and operate power To own and operate power
production facilities. production facilities. production facilities.
Ownership Interest(s): 25% by Citizens Power 25% by Citizens Power 25% by Citizens Power
Holdings One, LLC Holdings One, LLC Holdings One, LLC
Name of Entity: CL Power Sales Eight, CL Power Sales Nine, CL Power Sales Ten,
L.L.C. [6] L.L.C. [6] L.L.C. [6]
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $48,828 $4,379 $17,243
Revenues
Net Income (Loss) $570 $26 $147
Nature/Purpose of Business: To own and operate power To own and operate power To own and operate power
production facilities. production facilities. production facilities.
Ownership Interest(s): 25% by Citizens Power 25% by Citizens Power 25% by Citizens Power
Holdings One, LLC Holdings One, LLC Holdings One, LLC
453
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: Coalinga Cogeneration Commonwealth Atlantic LP Delaware Clean Energy
Company Project
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $22,417 $52,576
Revenues $17,646 $12,419
Net Income (Loss) $2,829 $1,764
Nature/Purpose of Business: To own and operate a 38MW To own a 340MW power To own and operate power
cogeneration facility in production facility in production facilities.
Fresno County, CA. Chesapeake, VA.
Ownership Interest(s): 50% by Silverado Energy 50% by Chickahominy River 50% by Chesapeake Bay
Company Energy Corp. Energy Company
Name of Entity: Four Star Oil and Gas Georgia Peaker, LP Gordonsville Energy, LP
Company
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $147,668 $87,991
Revenues $118,429 $19,086
Net Income (Loss) $48,264 $3,870
Nature/Purpose of Business: To own an interest in To own and operate power To own and operate a
common stock of domestic production facilities. 240MW cogeneration
oil and gas exploration facility in Gordonsville,
and production co. VA.
Ownership Interest(s): 37.196% by Edison Mission 50% by Lakeview Energy 49% by Madison Energy
Energy Oil and Gas Company Company
50% by Silver Springs 1% by Rapidan Energy
Energy Company Company
454
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: Harbor Cogeneration
Company
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $20,120
Revenues $5,244
Net Income (Loss) $626
Nature/Purpose of Business: To own and operate a 80MW
cogeneration facility at
Wilmington Oil Field in
LA, CA.
Ownership Interest(s): 30% by South Coast Energy
Company
Name of Entity: James River Cogeneration Kern River Cogeneration March Point Cogeneration
Company Company Company
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $31,868 $108,951 $56,642
Revenues $27,397 $153,572 $42,797
Net Income (Loss) $9,506 $58,870 $8,379
Nature/Purpose of Business: To own and operate the To own and operate a To own and operate a
110MW cogeneration 300MW Kern River (Omar 140MW cogeneration
facility in Hopewell, Hill) cogeneration facility in Anacortes, WA.
Chester County, VA. facility at Texaco's Kern
River Oil Field near
Bakersfield, CA.
Ownership Interest(s): 50% by Capistrano 50% by Southern Sierra 50% by San Juan Energy
Cogeneration Company Energy Company Company
455
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: Mid-Set Cogeneration Midway-Sunset Mission Interface
Company Cogeneration Company Partnership
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $14,704 $106,937 $367
Revenues $19,128 $126,304
Net Income (Loss) $5,363 $27,824 $17
Nature/Purpose of Business: To own and operate a 38MW To own and operate a To own and operate power
cogeneration facility in 225MW cogeneration production facilities.
Kern Co., CA facility near Taft in
Kern County, CA.
Ownership Interest(s): 50% by Del Mar Energy 50% by San Joaquin Energy 50% by Edison Mission
Company Company Energy Interface, Ltd
Name of Entity: North Shore Energy, LP Northville Energy
Corporation
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets
Revenues
Net Income (Loss)
Nature/Purpose of Business: To own and operate power To own and operate power
production facilities. production facilities.
Ownership Interest(s): 50% by Reeves Bay Energy 100% by North Shore
Company Energy LP
50% by Santa Clara Energy
Company
456
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: Oconee Energy, LP Riverhead Cogeneration I, Riverhead Cogeneration
LP II, LP
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets
Revenues
Net Income (Loss)
Nature/Purpose of Business: To own and operate power To own and operate power To own and operate power
production facilities. production facilities. production facilities.
Ownership Interest(s): 50% by Clayville Energy 50% by Centerport Energy 50% by Riverport Energy
Company Company Company
50% by Coronado Energy 50% by Ridgecrest Energy 50% by San Pedro Energy
Company Company Company
Name of Entity: Riverhead Cogeneration Sunrise Power Company, LLC Salinas River
III, LP Cogeneration Company
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $106,081 $24,643
Revenues $66,616 $18,565
Net Income (Loss) $13,843 $3,556
Nature/Purpose of Business: To own and operate power To own and operate a To own and operate a 38MW
production facilities. 320MW power production cogeneration facility in
facility in Fellows, CA. Monterey Co., CA.
Ownership Interest(s): 50% by Indian Bay Energy 50% by Anacapa Energy 50% by Anacapa Energy
Company Company Company
50% by Santa Ana Energy
Company
457
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: Sargent Canyon Smithtown Cogeneration, LP Sobel Cogeneration Company
Cogeneration Company
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $25,004
Revenues $19,095
Net Income (Loss) $3,711
Nature/Purpose of Business: To own and operate a 38MW To own and operate power Currently is inactive.
cogeneration facility in production facilities.
Monterey Co, CA
Ownership Interest(s): 50% by Viejo Energy 50% by Balboa Energy 50% by Northern Sierra
Company Company Energy Company
50% by Kingspark Energy
Company
Name of Entity: Sycamore Cogeneration TM Star Fuel Company Triple Cycle Partnership
Company
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $135,992 $1,343
Revenues $173,295 $12,239
Net Income (Loss) $71,956 ($174)
Nature/Purpose of Business: To own and operate a To own a 50% interest in To own 25% interest in
300MW cogeneration a domestic oil and gas partnership that has
facility at Texaco's Kern exploration and rights to a proprietary
River Oil Field near production company. technology.
Bakersfield, CA.
Ownership Interest(s): 50% by Western Sierra 50% by Southern Sierra 50% by Mission Triple
Energy Co. Gas Company Cycle Systems Company
458
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: Watson Cogeneration CPC Cogeneration LLC
Company
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $173,996 $3,041
Revenues $222,305 $32,079
Net Income (Loss) $54,382 $14,173
Nature/Purpose of Business: To own and operate a To act as an intermediary
385MW cogeneration between Watson
facility at ARCO's LA Cogeneration Company and
Refinery in Carson, CA Arco
Ownership Interest(s): 49% by Camino Energy 49% by Camino Energy
Company Company
459
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Fuel Energy Oil and Gas Energy Petroleum
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $28,618 $30,598
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 28,618 30,598
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $28,618 $30,598
============================================================= ==================== ==================== ====================
460
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Pocono Fuels Southern Sierra Consolidating
Company (Inactive) Gas Company Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $100 $53,756
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 100 53,756
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $100 $53,756
============================================================= ==================== ==================== ====================
461
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission
Energy Fuel
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $113,072
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 113,072
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $113,072
============================================================= ==================== ==================== ====================
462
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Fuel Energy Oil and Gas Energy Petroleum
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($11,989)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 645
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (11,344)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net $2,291 13,440 $5
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 2,291 13,440 5
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 7,691 26,042 1
Accumulated other comprehensive income (loss)
Retained earnings 18,636 2,460 (6)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 26,327 28,502 ($5)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $28,618 $30,598
============================================================= ==================== ==================== ====================
463
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Pocono Fuels Southern Sierra Consolidating
Company (Inactive) Gas Company Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($562) ($19)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (562) (19)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 563 (2)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 563 (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 341 $54,957
Accumulated other comprehensive income (loss)
Retained earnings (1) (220) (1,201)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($1) 121 53,756
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $100 $53,756
============================================================= ==================== ==================== ====================
464
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission
Energy Fuel
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($12,570)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 645
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (11,925)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,297
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 16,297
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 89,032
Accumulated other comprehensive income (loss)
Retained earnings 19,668
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 108,700
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $113,072
============================================================= ==================== ==================== ====================
465
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Fuel Energy Oil and Gas Energy Petroleum
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $87,699
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 87,699
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization 1,669
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,669
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 86,030
Interest and dividend income (29)
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 86,001
Income taxes (benefit) 23,911
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 62,090
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 62,090
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($15,743) (35,329) ($6)
Dividends declared on common stock 34,379 (24,301)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $18,636 $2,460 ($6)
=============================================================== ==================== ==================== ====================
466
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Pocono Fuels Southern Sierra Consolidating
Company (Inactive) Gas Company Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $243
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 243
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 243
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 243
Income taxes (benefit) 94
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 149
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 149
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1) (70) $15,743
Dividends declared on common stock (299) (16,944)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1) ($220) ($1,201)
=============================================================== ==================== ==================== ====================
467
Edison Mission Energy Fuel and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission
Energy Fuel
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $87,942
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 87,942
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization 1,669
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,669
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 86,273
Interest and dividend income (29)
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 86,244
Income taxes (benefit) 24,005
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 62,239
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 62,239
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (35,406)
Dividends declared on common stock (7,165)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $19,668
=============================================================== ==================== ==================== ====================
468
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Chestnut Ridge Homer City Mission Energy
Energy Company Property Holdings, Westside, Inc.
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net $389
Nuclear deco mmissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $90,462 $900
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 90,462 389 900
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $90,462 $389 $900
============================================================= ==================== ==================== ====================
469
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Homer City Edison Mission Edison Mission
Generation LP [6] Finance Co. Holdings Co.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $38,501
Receivables - net 236
Fuel inventory 24,752
Materials and supplies, at average cost 22,726
Accumulated deferred income taxes - net
Trading and price risk management assets 14
Prepayments and other current assets 39,457
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 125,686
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 2,004,400
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $696,379
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,004,400 696,379
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 130,517
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 130,517
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,260,603 $696,379
============================================================= ==================== ==================== ====================
470
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Edison Mission
Adjustments Holdings Co.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $38,501
Receivables - net 236
Fuel inventory 24,752
Materials and supplies, at average cost 22,726
Accumulated deferred income taxes - net
Trading and price risk management assets 14
Prepayments and other current assets 39,457
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 125,686
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net ($1,588,210) 416,579
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (787,741)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (2,375,951) 416,579
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,375 137,892
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,375 137,892
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($2,368,576) $680,157
============================================================= ==================== ==================== ====================
471
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Chestnut Ridge Homer City Mission Energy
Energy Company Property Holdings, Westside, Inc.
Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($540) ($89) ($75)
Accrued taxes (302) 2
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (842) (89) (73)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,642 27
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 2,642 27
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 63,897 584 805
Accumulated other comprehensive income (loss)
Retained earnings 24,765 (106) 141
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 88,662 478 946
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $90,462 $389 $900
============================================================= ==================== ==================== ====================
472
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Homer City Edison Mission Edison Mission
Generation LP [6] Finance Co. Holdings Co.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $531,785 ($605,142) ($1,154)
Accrued taxes 4,898
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 28,312 1,178
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 564,995 (605,142) 24
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,577,318
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 8,032 (1,151) 3
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 18,896
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 26,928 (1,151) 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1
Additional paid-in capital 62,801 603,728 626,539
Accumulated other comprehensive income (loss)
Retained earnings 28,561 2,564 69,813
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 91,362 $606,293 696,352
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,260,603 $696,379
============================================================= ==================== ==================== ====================
473
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Edison Mission
Adjustments Holdings Co.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($75,215)
Accrued taxes 4,598
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities ($8,016) 21,474
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (8,016) (49,143)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (1,577,318)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,097 11,650
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 18,896
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 2,097 30,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (1)
Additional paid-in capital (731,812) 626,542
Accumulated other comprehensive income (loss)
Retained earnings (53,526) 72,212
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (785,339) 698,754
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($2,368,576) $680,157
============================================================= ==================== ==================== ====================
474
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Chestnut Ridge Homer City Mission Energy
Energy Company Property Holdings, Westside, Inc.
Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization $4
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4)
Interest and dividend income
Other nonoperating income 6
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($8,857) (109) ($206)
Dividends declared on common stock 33,622 1 347
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $24,765 ($106) $141
=============================================================== ==================== ==================== ====================
475
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Homer City Edison Mission Edison Mission
Generation LP [6] Finance Co. Holdings Co.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $494,098
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 494,098
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 168,814
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 83,218 $70 $114
Depreciation, decommissioning and amortization 51,764
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 303,796 70 114
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 190,302 (70) (114)
Interest and dividend income (137,523) 62,037 77,687
Other nonoperating income 6,744 (45)
Interest expense - net of amounts capitalized 687 (77,687)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 60,210 61,967 (159)
Income taxes (benefit) 26,240 23,825 (61)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 33,970 38,142 (98)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 33,970 38,142 (98)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (5,409) 9,604 28,523
Dividends declared on common stock (45,182) 41,388
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $28,561 $2,564 $69,813
=============================================================== ==================== ==================== ====================
476
Edison Mission Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating Edison Mission
Adjustments Holdings Co.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $494,098
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 494,098
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 168,814
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $6,625 90,027
Depreciation, decommissioning and amortization (3,108) 48,660
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3,517 307,501
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (3,517) 186,597
Interest and dividend income 2,201
Other nonoperating income 8,016 14,721
Interest expense - net of amounts capitalized (77,000)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,499 126,519
Income taxes (benefit) 2,097 52,101
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,402 74,418
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2,402 74,418
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 2,736 26,282
Dividends declared on common stock (58,664) (28,488)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($53,526) $72,212
=============================================================== ==================== ==================== ====================
477
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Bretton Woods CP Power Sales CP Power Sales
Funding I, L.L.C. Five, L.L.C. Thirteen, L.L.C.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
478
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
CP Power Sales CP Power Sales CP Power Sales
Fourteen, L.L.C. Fifteen, L.L.C. Seventeen, L.L.C.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
479
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
CP Power Sales CP Power Sales CP Power Sales
Eighteen, L.L.C. Nineteen, L.L.C. Twenty, L.L.C.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
480
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Sunapee Funding I, EME CP Holdings Co. Consolidating
L.L.C. Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
481
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME CP Holdings
Co. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
482
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Bretton Woods CP Power Sales CP Power Sales
Funding I, L.L.C. Five, L.L.C. Thirteen, L.L.C.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
483
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
CP Power Sales CP Power Sales CP Power Sales
Fourteen, L.L.C. Fifteen, L.L.C. Seventeen, L.L.C.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
484
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
CP Power Sales CP Power Sales CP Power Sales
Eighteen, L.L.C. Nineteen, L.L.C. Twenty, L.L.C.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
485
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Sunapee Funding I, EME CP Holdings Co. Consolidating
L.L.C. Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $947
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 947
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (44)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (44)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (903)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($903)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
486
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME CP Holdings
Co. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $947
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 947
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (44)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (44)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (903)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($903)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
487
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Bretton Woods CP Power Sales CP Power Sales
Funding I, L.L.C. Five, L.L.C. Thirteen, L.L.C.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
488
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
CP Power Sales CP Power Sales CP Power Sales
Fourteen, L.L.C. Fifteen, L.L.C. Seventeen, L.L.C.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
489
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
CP Power Sales CP Power Sales CP Power Sales
Eighteen, L.L.C. Nineteen, L.L.C. Twenty, L.L.C.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
490
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Sunapee Funding I, EME CP Holdings Co. Consolidating
L.L.C. Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,348
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,348
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2,348
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,348
Income taxes (benefit) 903
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,445
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,445
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock (2,348)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($903)
=============================================================== ==================== ==================== ====================
491
EME CP Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME CP Holdings
Co. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,348
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,348
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2,348
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,348
Income taxes (benefit) 903
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,445
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,445
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock (2,348)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($903)
=============================================================== ==================== ==================== ====================
492
EME Eastern Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Athens Funding, Citizens Power CP Power Sales
L.L.C. Holdings One, LLC Twelve, L.L.C.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $26
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 8,446
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,446
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $8,472
============================================================= ==================== ==================== ====================
493
EME Eastern Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Eastern Consolidating EME Eastern
Holdings Co. Adjustments Holdings Co.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $26
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $8,156 $438 17,040
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,156 438 17,040
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $8,156 $438 $17,066
============================================================= ==================== ==================== ====================
494
EME Eastern Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Athens Funding, Citizens Power CP Power Sales
L.L.C. Holdings One, LLC Twelve, L.L.C.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $904
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 904
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (42)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (42)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 7,332
Accumulated other comprehensive income (loss)
Retained earnings 278
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 7,610
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $8,472
============================================================= ==================== ==================== ====================
495
EME Eastern Holdings Co. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Eastern Consolidating EME Eastern
Holdings Co. Adjustments Holdings Co.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($487) $417
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (487) 417
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 100 100
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (42)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (42)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 6,697 $1,161 15,190
Accumulated other comprehensive income (loss)
Retained earnings 1,846 (723) 1,401
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 8,543 438 16,591
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $8,156 $438 $17,066
============================================================= ==================== ==================== ====================
496
EME Eastern Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Athens Funding, Citizens Power CP Power Sales
L.L.C. Holdings One, LLC Twelve, L.L.C.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,276
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,276
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2,276
Interest and dividend income
Other nonoperating income (1)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,275
Income taxes (benefit) 875
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,400
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,400
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (42)
Dividends declared on common stock (1,080)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $278
=============================================================== ==================== ==================== ====================
497
EME Eastern Holdings Co. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Eastern Consolidating EME Eastern
Holdings Co. Adjustments Holdings Co.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,276
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,276
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 2,276
Interest and dividend income
Other nonoperating income (1)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,275
Income taxes (benefit) 875
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,400
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,400
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year $445 $42 445
Dividends declared on common stock 1,401 (765) (444)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,846 ($723) $1,401
=============================================================== ==================== ==================== ====================
498
Hanover Energy Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Chickahominy River Hanover Energy Consolidating
Energy Corp. Company Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $35
Receivables - net 133
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 168
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 7,332 $2,800 ($2,800)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 7,332 2,800 (2,800)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,500 $2,800 ($2,800)
============================================================= ==================== ==================== ====================
499
Hanover Energy Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Hanover Energy
Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $35
Receivables - net 133
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 168
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 7,332
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 7,332
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,500
============================================================= ==================== ==================== ====================
500
Hanover Energy Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Chickahominy River Hanover Energy Consolidating
Energy Corp. Company Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $734
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 734
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 5,779
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 5,779
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 3,708 $3,207 ($3,517)
Accumulated other comprehensive income (loss) (1,813)
Retained earnings (908) (407) 717
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 987 2,800 (2,800)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,500 $2,800 ($2,800)
============================================================= ==================== ==================== ====================
501
Hanover Energy Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Hanover Energy
Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $734
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 734
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 5,779
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 5,779
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 3,398
Accumulated other comprehensive income (loss) (1,813)
Retained earnings (598)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 987
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,500
============================================================= ==================== ==================== ====================
502
Hanover Energy Company and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Chickahominy River Hanover Energy Consolidating
Energy Corp. Company Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,989
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,989
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,487
Depreciation, decommissioning and amortization 126
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,613
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 376
Interest and dividend income
Other nonoperating income 2
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 378
Income taxes (benefit) 753
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (375)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (375)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 326 $1,310 ($999)
Dividends declared on common stock (859) (1,717) 1,716
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($908) ($407) $717
=============================================================== ==================== ==================== ====================
503
Hanover Energy Company and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Hanover Energy
Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,989
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,989
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,487
Depreciation, decommissioning and amortization 126
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,613
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 376
Interest and dividend income
Other nonoperating income 2
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 378
Income taxes (benefit) 753
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (375)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (375)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 637
Dividends declared on common stock (860)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($598)
=============================================================== ==================== ==================== ====================
504
Majestic Energy Limited and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Majestic Energy EME Royale Limited Edison Mission
Limited Energy Taupo
Limited [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $153
Receivables - net 1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 154
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $286,157 $106,540
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 286,157 106,540
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $286,157 $106,540 $154
============================================================= ==================== ==================== ====================
505
Majestic Energy Limited and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Majestic Energy
Adjustments Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $153
Receivables - net ($1)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (1) 153
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (392,697)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (392,697)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($392,698) $153
============================================================= ==================== ==================== ====================
506
Majestic Energy Limited and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Majestic Energy EME Royale Limited Edison Mission
Limited Energy Taupo
Limited [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $122 $1,394 $32
Accrued taxes (417) 2,473
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 62 7 38
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 184 984 2,543
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 304,894 304,894 302,818
Additional paid-in capital
Accumulated other comprehensive income (loss) 2,497 8,669 (236)
Retained earnings (21,418) (208,007) (304,971)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 285,973 105,556 (2,389)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $286,157 $106,540 $154
============================================================= ==================== ==================== ====================
507
Majestic Energy Limited and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Majestic Energy
Adjustments Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,548
Accrued taxes 2,056
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 3,711
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock ($607,712) 304,894
Additional paid-in capital
Accumulated other comprehensive income (loss) (10,537) 393
Retained earnings 225,551 (308,845)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (392,698) (3,558)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($392,698) $153
============================================================= ==================== ==================== ====================
508
Majestic Energy Limited and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Majestic Energy EME Royale Limited Edison Mission
Limited Energy Taupo
Limited [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($6,876) $82
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (6,876) 82
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $184 13 97
Depreciation, decommissioning and amortization (476)
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 184 13 (379)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (184) (6,889) 461
Interest and dividend income
Other nonoperating income (43) 842
Interest expense - net of amounts capitalized (5,026)
Other nonoperating deductions (2,781)
Dividends on preferred securities (85)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (184) (6,932) (6,589)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (184) (6,932) (6,589)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (184) (6,932) (6,589)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (24,868) (298,382)
Dividends declared on common stock (21,234) (176,207)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($21,418) ($208,007) ($304,971)
=============================================================== ==================== ==================== ====================
509
Majestic Energy Limited and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating Majestic Energy
Adjustments Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $6,876 $82
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 6,876 82
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 294
Depreciation, decommissioning and amortization (476)
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (182)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 6,876 264
Interest and dividend income
Other nonoperating income 799
Interest expense - net of amounts capitalized (5,026)
Other nonoperating deductions (2,781)
Dividends on preferred securities (85)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 6,876 (6,829)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,876 (6,829)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,876 (6,829)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 42,696 (280,554)
Dividends declared on common stock 175,979 (21,462)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $225,551 ($308,845)
=============================================================== ==================== ==================== ====================
510
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Midwest Generation Collins Holdings Edison Mission
EME, LLC EME, LLC Midwest Holdings
Co.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $96 $62,646
Receivables - net 261 67
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 37
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 394 62,713
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,366
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 2,419,236 3,968,412
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,425,602 3,968,412
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 16,827
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 16,827
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,425,996 $4,047,952
============================================================= ==================== ==================== ====================
511
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Fuel Overseas Co. [6] Overseas Ltd. [7]
Services, LLC [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $4 $167
Receivables - net 237
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 175
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4 579
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 20
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 54
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 54 20
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $58 $599
============================================================= ==================== ==================== ====================
512
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Midwest Generation Consolidating Midwest Generation
LLC [6] Adjustments EME, LLC
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $52,635 $115,548
Receivables - net 70,982 71,547
Fuel inventory 80,042 80,042
Materials and supplies, at average cost 17,718 17,718
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 7,793 8,005
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 229,170 292,860
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 4,654,347 ($807,889) 3,852,844
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (6,387,702)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,654,347 (7,195,591) 3,852,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 16,827
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 16,827
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $4,883,517 ($7,195,591) $4,162,531
============================================================= ==================== ==================== ====================
513
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Midwest Generation Collins Holdings Edison Mission
EME, LLC EME, LLC Midwest Holdings
Co.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($5,050) $3 ($97,352)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 138 4,760
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (4,912) 3 (92,592)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,719,308
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 340 1,997
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 340 1,997
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 2,456,512 2,425,000
Accumulated other comprehensive income (loss)
Retained earnings (25,944) (3) (5,761)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,430,568 $(3) 2,419,239
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,425,996 $4,047,952
============================================================= ==================== ==================== ====================
514
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Fuel Overseas Co. [6] Overseas Ltd. [7]
Services, LLC [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($3,500,052) $478
Accrued taxes 35
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 31
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3,500,052) 544
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (4,770)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (4,770)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 3,468,972 66
Accumulated other comprehensive income (loss)
Retained earnings 35,908 (11)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,504,880 55
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $58 $599
============================================================= ==================== ==================== ====================
515
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Midwest Generation Consolidating Midwest Generation
LLC [6] Adjustments EME, LLC
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,832,397 ($1,769,576)
Accrued taxes 35
Regulatory liabilities - net
Trading and price risk management liabilities 8,401 8,401
Other current liabilities 150,681 ($13,656) 141,954
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,991,479 (13,656) (1,619,186)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 2,188,821 (860,000) 3,048,129
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 56,875 27,200 81,642
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 182,809 182,809
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 239,684 27,200 264,451
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 650,000 (6,544,038) 2,456,512
Accumulated other comprehensive income (loss)
Retained earnings (186,467) 194,903 12,625
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 463,533 (6,349,135) 2,469,137
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $4,883,517 ($7,195,591) $4,162,531
============================================================= ==================== ==================== ====================
516
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Midwest Generation Collins Holdings Edison Mission
EME, LLC EME, LLC Midwest Holdings
Co.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $15,906 $33,131 $33
Depreciation, decommissioning and amortization 1,873
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 17,779 33,131 33
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (17,779) (33,131) (33)
Interest and dividend income (576) 806
Other nonoperating income 33,126 (201)
Interest expense - net of amounts capitalized (108,121)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (18,355) (5) (107,549)
Income taxes (benefit) 7,056 (2) (41,350)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (11,299) (3) (66,199)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (11,299) (3) (66,199)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (17,025) (11,378)
Dividends declared on common stock 2,380 71,816
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($25,944) ($3) ($5,761)
=============================================================== ==================== ==================== ====================
517
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Fuel Overseas Co. [6] Overseas Ltd. [7]
Services, LLC [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $474
Depreciation, decommissioning and amortization 14
Property and other taxes 9
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 497
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (497)
Interest and dividend income $256,940 2
Other nonoperating income 525
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 256,940 30
Income taxes (benefit) 98,787 12
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 158,153 18
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 158,153 18
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 175,077 (28)
Dividends declared on common stock (297,322) (1)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $35,908 ($11)
=============================================================== ==================== ==================== ====================
518
Midwest Generation EME, LLC and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Midwest Generation Consolidating Midwest Generation
LLC [6] Adjustments EME, LLC
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,068,695 $1,068,695
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,068,695 1,068,695
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 365,638 365,638
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 413,807 $2,606 465,957
Depreciation, decommissioning and amortization 166,718 (25,462) 143,143
Property and other taxes 9
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 946,163 (22,856) 974,747
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 122,532 22,856 93,948
Interest and dividend income (125,669) 131,503
Other nonoperating income (1,194) (33,131) (875)
Interest expense - net of amounts capitalized (131,419) 42,986 (196,554)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (135,750) 32,711 28,022
Income taxes (benefit) 49,383 13,529 14,537
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (86,367) 19,182 13,485
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (86,367) 19,182 13,485
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (100,102) (47,407) (863)
Dividends declared on common stock 2 223,128 3
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($186,467) $194,903 $12,625
=============================================================== ==================== ==================== ====================
519
Mission Del Cielo, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Del Cielo Mission Del Sol LLC Sunrise Power
Inc. Company, LLC [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $360 $197
Receivables - net 392
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 752 197
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 84,314
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $99,269 104,599
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 99,269 104,599 84,314
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $99,269 $105,351 $84,511
============================================================= ==================== ==================== ====================
520
Mission Del Cielo, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission De Las Consolidating Mission Del Cielo
Estrellas LLC [7] Adjustments Inc. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $30 ($227) $360
Receivables - net 392
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 30 (227) 752
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (30) (84,284)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (263,769) (59,901)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets ($30) (348,053) (59,901)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($348,280) ($59,149)
============================================================= ==================== ==================== ====================
521
Mission Del Cielo, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Del Cielo Mission Del Sol LLC Sunrise Power
Inc. Company, LLC [6]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $5,019 ($79,989)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5,019 (79,989)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,063
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,063
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock $1 1 1
Additional paid-in capital 90,875 90,875 164,499
Accumulated other comprehensive income (loss)
Retained earnings 8,393 8,393
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 99,269 99,269 164,500
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $99,269 $105,351 $84,511
============================================================= ==================== ==================== ====================
522
Mission Del Cielo, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission De Las Consolidating Mission Del Cielo,
Estrellas, LLC [7] Adjustments Inc. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $79,989 $5,019
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 79,989 5,019
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,063
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,063
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (1) 2
Additional paid-in capital (419,875) (73,626)
Accumulated other comprehensive income (loss)
Retained earnings (8,393) 8,393
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (428,269) (65,231)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($348,280) ($59,149)
============================================================= ==================== ==================== ====================
523
Mission Del Cielo, Inc. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Del Cielo Mission Del Sol LLC Sunrise Power
Inc. Company, LLC [6]
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $13,769
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 13,769
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization 46
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 46
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 13,723
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 13,723
Income taxes (benefit) 5,330
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 8,393
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 8,393
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock $8,393
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $8,393 $8,393
=============================================================== ==================== ==================== ====================
524
Mission Del Cielo, Inc. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission De Las Consolidating Mission Del Cielo
Estrellas, LLC [7] Adjustments Inc. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $13,769
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 13,769
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization 46
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 46
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 13,723
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 13,723
Income taxes (benefit) 5,330
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 8,393
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 8,393
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock ($8,393)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,393) $8,393
=============================================================== ==================== ==================== ====================
525
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Investments, EME Southwest EME UK
LLC Power Corporation International LLC
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $386,764 $348,366
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 386,764 348,366
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $386,764 $348,366
============================================================= ==================== ==================== ====================
526
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC International Mission Energy Consolidating
B.V. Consolidated Holdings Adjustments
International, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $161,501
Receivables - net 172,532
Fuel inventory 5,331
Materials and supplies, at average cost 16,839
Accumulated deferred income taxes - net
Trading and price risk management assets 52,488
Prepayments and other current assets 13,798
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 422,489
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,237,542
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 757,571 $767,721 ($1,001,341)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 3,995,113 767,721 (1,001,341)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 682,141
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 682,141
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,099,743 $767,721 ($1,001,341)
============================================================= ==================== ==================== ====================
527
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy
Holdings
International,
Inc. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $161,501
Receivables - net 172,532
Fuel inventory 5,331
Materials and supplies, at average cost 16,839
Accumulated deferred income taxes - net
Trading and price risk management assets 52,488
Prepayments and other current assets 13,798
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 422,489
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,237,542
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,259,081
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,496,623
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 682,141
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 682,141
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,601,253
============================================================= ==================== ==================== ====================
528
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Investments, EME Southwest EME UK
LLC Power Corporation International LLC
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $809 ($95,023)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 809 (95,023)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (37) (2)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (37) (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 384,756 443,344
Accumulated other comprehensive income (loss)
Retained earnings 1,236 47
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 385,992 443,391
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $386,764 $348,366
============================================================= ==================== ==================== ====================
529
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001 (In thousands)
MEC International Mission Energy Consolidating
B.V. Consolidated Holdings Adjustments
International, Inc.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $88,241
Long-term debt classified as due within one year 45,835
Preferred stock to be redeemed within one year
Accounts payable 413,769 ($175,556)
Accrued taxes (9,616)
Regulatory liabilities - net
Trading and price risk management liabilities 7,532
Other current liabilities 82,654
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 628,415 (175,556)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 2,119,257
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 323,631 1,884
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 494,775
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 818,406 1,884
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 493,234
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 75,028 $58,103
Additional paid-in capital 1,775,745 1,709,312 (938,067)
Accumulated other comprehensive income (loss) (300,385)
Retained earnings (613,907) (767,919) (121,377)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 936,481 941,393 (1,001,341)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,099,743 $767,721 ($1,001,341)
============================================================= ==================== ==================== ====================
530
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001 (In thousands)
Mission Energy
Holdings Intern'l,
Inc. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $88,241
Long-term debt classified as due within one year 45,835
Preferred stock to be redeemed within one year
Accounts payable 143,999
Accrued taxes (9,616)
Regulatory liabilities - net
Trading and price risk management liabilities 7,532
Other current liabilities 82,654
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 358,645
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 2,119,257
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 325,476
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 494,775
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 820,251
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 493,234
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 133,131
Additional paid-in capital 3,375,090
Accumulated other comprehensive income (loss) (300,385)
Retained earnings (1,501,920)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,705,916
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,601,253
============================================================= ==================== ==================== ====================
531
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Investments, EME Southwest EME UK
LLC Power Corporation International LLC
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income $51
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 51
Income taxes (benefit) 20
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 31
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 31
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year $1,236 16
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,236 $47
=============================================================== ==================== ==================== ====================
532
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC International Mission Energy Consolidating
B.V. Consolidated Holdings Adjustments
International, Inc.
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $973,772
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 973,772
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 382,396
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 226,283
Depreciation, decommissioning and amortization 104,041
Property and other taxes 188
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 712,908
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 360,864
Interest and dividend income 12,655 $107
Other nonoperating income 26,011
Interest expense - net of amounts capitalized (217,919)
Other nonoperating deductions (34,291)
Dividends on preferred securities (8,014)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 39,306 107
Income taxes (benefit) (29,052) 15,872
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (10,254) (15,765)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,921,401)
Income taxes (benefit) on discontinued operations (745,086)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,166,061) (15,765)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 552,155 413,876 ($415,128)
Dividends declared on common stock (1) (1,166,030) 293,751
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($613,907) ($767,919) ($121,377)
=============================================================== ==================== ==================== ====================
533
Mission Energy Holdings International, Inc. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy
Holdings
International,
Inc. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $973,772
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 973,772
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 382,306
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 226,283
Depreciation, decommissioning and amortization 104,041
Property and other taxes 188
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 712,908
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 260,864
Interest and dividend income 12,813
Other nonoperating income 26,011
Interest expense - net of amounts capitalized (217,919)
Other nonoperating deductions (34,291)
Dividends on preferred securities (8,014)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (39,464)
Income taxes (benefit) (44,944)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (5,480)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,921,401)
Income taxes (benefit) on discontinued operations 745,086
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,181,795)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 552,155
Dividends declared on common stock (872,280)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,501,920)
=============================================================== ==================== ==================== ====================
534
Mission Energy Wales Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro Mission Energy Consolidating
Limited Wales Company Adjustments
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221 $121
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421 121
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (438,786) 16,978 $32,417
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,106,038 16,978 32,417
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 281,076 1,750
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076 1,750
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,413,535 $18,849 $32,417
============================================================= ==================== ==================== ====================
535
Mission Energy Wales Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy
Wales Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,342
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,542
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (389,391)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,155,433
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 282,826
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 282,826
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,464,801
============================================================= ==================== ==================== ====================
536
Mission Energy Wales Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro Mission Energy Consolidating
Limited Wales Company Adjustments
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582) ($347,133)
Accrued taxes (11,547) 5,084
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668) (342,049)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601 26 ($26)
Additional paid-in capital 224,698 (224,698)
Accumulated other comprehensive income (loss) (192,568) 35,381 (35,227)
Retained earnings (21,904) 100,793 292,368
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (871) 360,898 32,417
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,413,535 $18,849 $32,417
============================================================= ==================== ==================== ====================
537
Mission Energy Wales Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy
Wales Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (404,715)
Accrued taxes (6,463)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (349,717)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (192,414)
Retained earnings 371,257
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 392,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,464,801
============================================================= ==================== ==================== ====================
538
Mission Energy Wales Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro Mission Energy Consolidating
Limited Wales Company Adjustments
Partnership
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319 $406
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319 406
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154 51
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593 51
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726 355
Interest and dividend income 110,200 12,168
Other nonoperating income 50 (760)
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,585) 11,763
Income taxes (benefit) (9,015) (147)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,430 11,910
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,430 11,910
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903 88,884 ($51,058)
Dividends declared on common stock (797,237) (1) 343,426
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($21,904) $100,793 $292,368
=============================================================== ==================== ==================== ====================
539
Mission Energy Wales Company and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy
Wales Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,725
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,725
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,205
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,644
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 67,081
Interest and dividend income 122,368
Other nonoperating income (710)
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 9,178
Income taxes (benefit) (9,162)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 18,340
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 18,340
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 806,729
Dividends declared on common stock (453,812)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $371,257
=============================================================== ==================== ==================== ====================
540
Mission Energy Wales Company
Mission Hydro Limited Partnership and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (220,334) ($218,452)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,324,490 (218,452)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,631,987 ($218,452)
============================================================= ==================== ==================== ====================
541
Mission Energy Wales Company
Mission Hydro Limited Partnership and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (438,786)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,106,038
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,413,535
============================================================= ==================== ==================== ====================
542
Mission Energy Wales Company
Mission Hydro Limited Partnership and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582)
Accrued taxes (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,049,407 ($5,861)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (165,022) (27,546)
Retained earnings 376,742 (398,646)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 211,720 (212,591)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,631,987 ($218,452)
============================================================= ==================== ==================== ====================
543
Mission Energy Wales Company
Mission Hydro Limited Partnership and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582)
Accrued taxes (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (192,568)
Retained earnings (21,904)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (871)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,413,535
============================================================= ==================== ==================== ====================
544
Mission Energy Wales Company
Mission Hydro Limited Partnership and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726
Interest and dividend income 110,200
Other nonoperating income 50
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions ($28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,557) (28)
Income taxes (benefit) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,458 (28)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,458 (28)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903
Dividends declared on common stock (398,619) (398,618)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $376,742 ($398,646)
=============================================================== ==================== ==================== ====================
545
Mission Energy Wales Company
Mission Hydro Limited Partnership and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726
Interest and dividend income 110,200
Other nonoperating income 50
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,585)
Income taxes (benefit) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,430
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,430
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903
Dividends declared on common stock (797,237)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($21,904)
=============================================================== ==================== ==================== ====================
546
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd [9]
Partnership [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $641,682
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 641,682
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $641,682
============================================================= ==================== ==================== ====================
547
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd [9]
Generation Limited Partnership [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $14,597
Receivables - net 5,395
Fuel inventory
Materials and supplies, at average cost 11,503
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024)
Prepayments and other current assets 754
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (48,775)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 642,008
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (38,348) $641,682
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 603,660 641,682
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $562,320 $641,682
============================================================= ==================== ==================== ====================
548
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [9] Venture [10]
Australia Pty Ltd.
[8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $15,406 ($808)
Receivables - net 5,173 222
Fuel inventory
Materials and supplies, at average cost 3,783 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024)
Prepayments and other current assets 600 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (56,062) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 446,657 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($5,113)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (5,113) 446,657 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($5,113) $398,030 $965,951
============================================================= ==================== ==================== ====================
549
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd [8] First Hydro
Partnership Holdings Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $7,623
Receivables - net 33,665
Fuel inventory
Materials and supplies, at average cost 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets 27,379
Prepayments and other current assets 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 75,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 902,816
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 902,816
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 273,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 273,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,251,654
============================================================= ==================== ==================== ====================
550
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [8] Finance plc [8] Company [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,214 $2,674 $3,214
Receivables - net 33,101 559 33,101
Fuel inventory
Materials and supplies, at average cost 1,587 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 4,942 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 42,844 3,233 42,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 664,444 199 664,444
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 9,218
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 664,444 9,417 664,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
551
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($23,699) $22,221
Receivables - net (72,156) 39,060
Fuel inventory
Materials and supplies, at average cost (14,677) 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets 81,024 (53,645)
Prepayments and other current assets (10,637) 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (40,145) 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (2,734,409) 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,469,455) (220,334)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (4,203,864) 1,324,490
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (33,671) 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (33,671) 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($4,277,680) $1,631,987
============================================================= ==================== ==================== ====================
552
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd [9]
Partnership [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $6,828 ($6,828)
Preferred stock to be redeemed within one year
Accounts payable $4 264,875 (277,511)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 12,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4 284,344 (284,339)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 597,287 (597,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2) (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682
Additional paid-in capital
Accumulated other comprehensive income (loss) (2) (9,323) 9,093
Retained earnings (230,625) 230,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($2) (239,948) $881,626
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $641,682
============================================================= ==================== ==================== ====================
553
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd [9]
Generation Limited Partnership [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215 $6,828 ($6,828)
Preferred stock to be redeemed within one year
Accounts payable (72,150) 264,875 (277,511)
Accrued taxes 209
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 22,480 12,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (46,246) 284,344 (284,339)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778 597,287 (597,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,349 (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 100
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 133,732 (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,791) (9,323) 9,093
Retained earnings 329,847 (230,625) 230,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 191,056 (239,948) $881,626
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $562,320 $641,682
============================================================= ==================== ==================== ====================
554
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [9] Venture [10]
Australia Pty Ltd.
[8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable ($5,182) (56,478) $1,495
Accrued taxes 209
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,396 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (5,182) (49,658) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,351
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 32 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 133,666 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 33,235
Additional paid-in capital (5,113) 768,427
Accumulated other comprehensive income (loss) (1) (61,841) (76,247)
Retained earnings 70 63,963 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 69 30,244 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($5,113) $398,030 $965,951
============================================================= ==================== ==================== ====================
555
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd [8] First Hydro
Partnership Holdings Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($6,828)
Preferred stock to be redeemed within one year
Accounts payable ($12,636) (277,511) $27,014
Accrued taxes (11,756)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 12,641 22,482
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5 (284,339) 38,383
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (597,287) 765,628
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) 244,233
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2) 244,799
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682 181,987
Additional paid-in capital
Accumulated other comprehensive income (loss) (228) 9,093 (26,047)
Retained earnings 225 230,851 46,904
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($3) $881,626 202,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,251,654
============================================================= ==================== ==================== ====================
556
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [8] Finance plc [8] Company [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $22,456 ($23,408) $22,456
Accrued taxes (11,717) (39) (11,717)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1 22,422 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,740 (1,025) 10,740
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (6,954) 33,202 (6,954)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 605,585
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,323) 7,029 (138,323)
Retained earnings 235,703 (398) 235,703
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 702,965 6,650 702,965
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
557
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613 $3,215
Preferred stock to be redeemed within one year
Accounts payable $186 341,444 (57,582)
Accrued taxes 23,264 (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities (57,384) 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 186 310,937 (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 294,216 1,049,407
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (16,348) 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits (117,283) 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (1,231) 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (134,862) 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (3,351,457)
Additional paid-in capital (763,314)
Accumulated other comprehensive income (loss) 48 399,071 (165,022)
Retained earnings (234) (1,032,271) 376,742
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($186) (4,747,971) 211,720
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($4,277,680) $1,631,987
============================================================= ==================== ==================== ====================
558
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd [9]
Partnership [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income $343 $50,541
Other nonoperating income
Interest expense - net of amounts capitalized (50,775)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (50,432) 50,541
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (50,432) 50,541
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (50,432) 50,541
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (180,193) 180,310
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($230,625) $230,851
=============================================================== ==================== ==================== ====================
559
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd [9]
Generation Limited Partnership [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $57,941
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 57,941
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 26,101
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 35,771
Depreciation, decommissioning and amortization 10,038
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 71,910
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (13,969)
Interest and dividend income 56,808 $343 $50,541
Other nonoperating income 50
Interest expense - net of amounts capitalized (75,275) (50,775)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (32,386) (50,432) 50,541
Income taxes (benefit) 2,024
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (34,410) (50,432) 50,541
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (34,410) (50,432) 50,541
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 364,257 (180,193) 180,310
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $329,847 ($230,625) $230,851
=============================================================== ==================== ==================== ====================
560
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [9] Venture [10]
Australia Pty Ltd.
[8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $57,871 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 57,871 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,583 17,518
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,164 22,490
Depreciation, decommissioning and amortization 10,038
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 31,785 40,008
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 26,086 (39,937)
Interest and dividend income 5,923
Other nonoperating income $70 (16) (5)
Interest expense - net of amounts capitalized (24,471)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 70 7,522 (39,942)
Income taxes (benefit) 2,423
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 70 5,099 (39,942)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 70 5,099 (39,942)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 58,864 305,869
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $70 $63,963 $265,927
=============================================================== ==================== ==================== ====================
561
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd [8] First Hydro
Partnership Holdings Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $265,378
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 265,378
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,807
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,664
Depreciation, decommissioning and amortization 21,116
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 184,587
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 80,791
Interest and dividend income $50,885 $50,541 2,508
Other nonoperating income
Interest expense - net of amounts capitalized (50,776) (53,483)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 109 50,541 29,816
Income taxes (benefit) (11,039)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 109 50,541 40,855
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 109 50,541 40,855
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 116 180,310 404,668
Dividends declared on common stock (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $225 $230,851 $46,904
=============================================================== ==================== ==================== ====================
562
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [8] Finance plc [8] Company [9]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $238,890 $238,890
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 238,890 238,890
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,772 87,772
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,371 ($4) 75,371
Depreciation, decommissioning and amortization 10,235 10,235
Property and other taxes
Net gain on sale of utility plant 17,063 17,063
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 190,441 (4) 190,441
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 48,449 4 48,449
Interest and dividend income 1,012 1,446 1,012
Other nonoperating income
Interest expense - net of amounts capitalized (3) (1,591) (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 49,458 (141) 49,458
Income taxes (benefit) (15,097) (46) (15,097)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 64,555 (95) 64,555
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 64,555 (95) 64,555
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 171,148 (303) 171,148
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $235,703 ($398) $235,703
=============================================================== ==================== ==================== ====================
563
Mission Energy Wales Company, Mission Hydro Limited Partnership
EME Generation Holdings Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($535,722) $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (535,722) 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (201,646) 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $97 (186,392) 111,532
Depreciation, decommissioning and amortization (30,508) 31,154
Property and other taxes
Net gain on sale of utility plant (34,126)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 97 (452,672) 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (97) (83,050) 66,726
Interest and dividend income (161,703) 110,200
Other nonoperating income (49) 50
Interest expense - net of amounts capitalized 127,619 (179,533)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (97) (117,183) (2,557)
Income taxes (benefit) 27,817 (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (97) (145,000) 6,458
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (97) (145,000) 6,458
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (137) (887,271) 768,903
Dividends declared on common stock (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($234) ($1,032,271) $376,742
=============================================================== ==================== ==================== ====================
564
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Adelaide Ventures Beheer-en Vindoor
Ltd. BeleggingsmaatschappiInvestments
Jydeno B.V. Mauritius Limited
[7]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $10
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 16
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 16
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $26
============================================================= ==================== ==================== ====================
565
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Coaltrade Services Edison Mission Edison Mission LYB
International Pte Advantage B.V. PEDS Pty Ltd [7]
Ltd. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $9
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 9
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $9
============================================================= ==================== ==================== ====================
566
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Asia Pte Energy Energy Services
Ltd. Consolidated International B.V. B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $4,381 $41 $3
Receivables - net 16,117 33
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 610 21
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 21,108 95 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 665 65
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 338,576
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 339,241 65
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,166 2
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,166 2
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $362,515 $162 $3
============================================================= ==================== ==================== ====================
567
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Millennium B.V. Operation and Wind Power Italy
Consolidated Maintenance B.V.
Services B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $14 $563
Receivables - net 168
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 136
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 14 867
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 34
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 27,093 103 $22,210
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 27,093 137 22,210
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (21) 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (21) 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $27,086 $1,007 $22,210
============================================================= ==================== ==================== ====================
568
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Italian Vento EME Atlantic EME Tri Gen B.V.
Power Corporation Holdings Limited
4 S.r.l. [7] Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $13,701 $3
Receivables - net 42,377
Fuel inventory
Materials and supplies, at average cost 5,340
Accumulated deferred income taxes - net
Trading and price risk management assets 29,112
Prepayments and other current assets 872 2
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 91,402 5
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 871,952
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 27,488 21,861
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 899,440 21,861
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
GOODWILL 371,635
Other deferred charges 4,526 132
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 376,161 132
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,367,003 $21,998
============================================================= ==================== ==================== ====================
569
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria B.V. First Hydro First Hydro
[Inactive] Renewables Limited Renewables (COWL)
Limited [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
570
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Global Generation Hydro Energy B.V. Iberian
B.V. Consolidated Consolidated Hy-Power Amsterdam
B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1,260 $9,264 $10,124
Receivables - net 7,928 7,971
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 73 305 304
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,333 17,497 18,399
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 10,711 76,888 101,196
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 4,581
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 10,711 81,469 101,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 1,425 3,556
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,425 3,556
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations 153,610
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $165,654 $100,391 $123,151
============================================================= ==================== ==================== ====================
571
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Latrobe Power Pty. Latrobe Valley B.V. Valley Power Pty
Ltd. Consolidated Ltd. [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $20,874
Receivables - net 10,345
Fuel inventory
Materials and supplies, at average cost 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (165,355)
Prepayments and other current assets 1,226
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (125,190)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 968,477
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 968,477
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 10,432
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 10,432
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $853,719
============================================================= ==================== ==================== ====================
572
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loy Yang Holdings MEC Esenyurt B.V. MEC IES
Pty Ltd. Consolidated B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $746 $49,945 $71
Receivables - net 673 50,704
Fuel inventory 5,331
Materials and supplies, at average cost 661
Accumulated deferred income taxes - net
Trading and price risk management assets 88
Prepayments and other current assets 53 3,500
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,472 110,229 71
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,859 135,937
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,705) 36,426 2,031
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,154 172,363 2,031
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 46 16,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 46 16,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,672 $298,774 $2,102
============================================================= ==================== ==================== ====================
573
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [7] Energy Power [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $10
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $10
============================================================= ==================== ==================== ====================
574
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Indo Coal B.V. MEC Indonesia B.V. MEC International
Holdings B.V.
Consolidated
------------------------------------------------------------- --------------------- --------------------- --------------------
ASSETS
------------------------------------------------------------- --------------------- --------------------- --------------------
Cash and equivalents $340 $11
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- --------------------- --------------------- --------------------
Total current assets 340 11
------------------------------------------------------------- --------------------- --------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 17,932 $100,150 5,478
Investments in leveraged leases
Other investments
------------------------------------------------------------- --------------------- --------------------- --------------------
Total investment and other assets 17,932 100,150 5,478
------------------------------------------------------------- --------------------- --------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- --------------------- --------------------- --------------------
Total utility plant
------------------------------------------------------------- --------------------- --------------------- --------------------
Regulatory assets - net
Other deferred charges 892
------------------------------------------------------------- --------------------- --------------------- --------------------
Total deferred charges 892
------------------------------------------------------------- --------------------- --------------------- --------------------
Total assets $18,272 $101,042 $5,489
============================================================= ===================== ===================== ====================
575
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Laguna Power Gulf Power MEC Perth B.V.
B.V. Generation Co. Consolidated
Ltd. [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $5,168
Receivables - net 1,458
Fuel inventory
Materials and supplies, at average cost 1,530
Accumulated deferred income taxes - net
Trading and price risk management assets (4,091)
Prepayments and other current assets 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,244
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 55,513
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 55,513
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges $43 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 43 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $43 $61,473
============================================================= ==================== ==================== ====================
576
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Priolo B.V. MEC San Pascual MEC Sidi Krir B.V.
B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $8 $7
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 8 7
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 21,624
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 21,624
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 295 $45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 295 45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $21,927 $45 $7
============================================================= ==================== ==================== ====================
577
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Sumatra B.V. MEC Wales B.V. Mission Energy
Consolidated Company (UK)
Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $5 $22,342 $23,560
Receivables - net 39,060 7,142
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695 1,810
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5 26,542 32,512
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824 135,584
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (389,391) 12,397
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,155,433 147,981
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
GOODWILL 247,435
Other deferred charges 35,391 6,457
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 282,826 6,457
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5 $1,464,801 $186,950
============================================================= ==================== ==================== ====================
578
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission NZ Pride Hold Limited
Italia s.r.l. Operations B.V. Consolidated
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $160 $17,252
Receivables - net 177 5,620
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 20 570
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 357 23,442
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 179 119,366
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 179 119,366
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 31 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 31 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $567 $148,993
============================================================= ==================== ==================== ====================
579
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EcoElectrica Southwestern Traralgon Power
S.a.r.l. Generation B.V. Pty. Ltd.
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $380 $5
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 380 5
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 241,946 $5,476
Investments in leveraged leases
Other investments 1,057
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 243,003 5,476
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $243,718 $5 $5,476
============================================================= ==================== ==================== ====================
580
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC International Consolidating MEC International
B.V. Adjustments B.V. Consolidated
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
ASSETS
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Cash and equivalents $12,399 ($31,155) $161,501
Receivables - net 21 (17,262) 172,532
Fuel inventory 5,331
Materials and supplies, at average cost (11,502) 16,839
Accumulated deferred income taxes - net
Trading and price risk management assets 246,379 52,488
Prepayments and other current assets (1,578) 13,798
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Total current assets 12,420 184,882 422,489
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Nonutility property - net 1,856 (792,564) 3,237,542
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,813,032 (1,549,753) 757,571
Investments in leveraged leases
Other investments (1,057)
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Total investment and other assets 1,814,888 (2,343,374) 3,995,113
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Total utility plant
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Goodwill 619,070
Other deferred charges (26,768) 63,071
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Total deferred charges (26,768) 682,141
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Assets of discontinued operations 153,610
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
------------------------------------------------------------- ---------------------- ---------------------- ---------------------
Total assets $1,827,308 ($2,185,260) $5,253,353
============================================================= ====================== ====================== =====================
581
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Adelaide Ventures Beheer-en Vindoor
Ltd. BeleggingsmaatschappiInvestments
Jydeno B.V. (Mauritius)
Limited [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes ($2)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (2)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 21
Additional paid-in capital 16
Accumulated other comprehensive income (loss)
Retained earnings (9)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 28
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $26
============================================================= ==================== ==================== ====================
582
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Coaltrade Services Edison Mission Edison Mission LYB
International Pte Advantage B.V. PEDS Pty Ltd. [7]
Ltd. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes ($3)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 17
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (5)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 12
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $9
============================================================= ==================== ==================== ====================
583
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Asia Pte Energy Energy Services
Ltd Consolidated International B.V. B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($4,246) $1,070 $9
Accrued taxes 261 165 (9)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 808 93
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3,177) 1,328 0
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 41
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,056
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,056
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 15
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 335,641 25 19
Additional paid-in capital 2,985 209
Accumulated other comprehensive income (loss) (2,358)
Retained earnings 28,312 (1,400) (16)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 364,580 (1,166) 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $362,515 $162 $3
============================================================= ==================== ==================== ====================
584
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Millennium B.V. Operation and Wind Power Italy
Consolidated Maintenance B.V.
Services B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $108 $408 $19,526
Accrued taxes (39) 39 248
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 69 447 19,774
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 17 20 27
Additional paid-in capital 30,587 412
Accumulated other comprehensive income (loss) (3,347) (43)
Retained earnings (240) 171 2,409
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 27,017 560 2,436
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $27,086 $1,007 $22,210
============================================================= ==================== ==================== ====================
585
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Italian Vento EME Atlantic EME Tri Gen B.V.
Power Corporation Holdings Limited
4 S.r.l. [7] Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $64,529
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable (105,977) $192
Accrued taxes (2,445) (9)
Regulatory liabilities - net
Trading and price risk management liabilities 2,406
Other current liabilities 3,009
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (38,478) 183
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 385,446
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 76,983
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 6,270
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 83,253
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 326,994
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 297,815 17
Additional paid-in capital 275,752 23,291
Accumulated other comprehensive income (loss) (76,090) (3,168)
Retained earnings 8,361 1,675
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 505,838 21,815
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,367,003 $21,998
============================================================= ==================== ==================== ====================
586
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria B.V. First Hydro First Hydro
[Inactive] Renewables Limited Renewables (COWL)
Limited [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
587
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Global Generation Hydro Energy B.V. Iberian
B.V. Consolidated Consolidated HyPower Amsterdam
B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $7,957 $7,957
Preferred stock to be redeemed within one year
Accounts payable $672,217 2,544 3,352
Accrued taxes (3,527) 728 320
Regulatory liabilities - net
Trading and price risk management liabilities 4,484 4,484
Other current liabilities 2,677 11,503 11,527
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 671,367 27,216 27,639
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 251,594 95,292 82,288
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,850) (2,065)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (1,850) (2,065)
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 483 483
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 40 2,112 (500)
Additional paid-in capital 446,212 9,711
Accumulated other comprehensive income (loss) 2,499 (40,034) (8,361)
Retained earnings (1,261,903) 17,172 13,956
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (813,152) (20,750) 14,806
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $165,654 $100,391 $123,151
============================================================= ==================== ==================== ====================
588
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Latrobe Power Pty. Latrobe Valley B.V. Valley Power Pty
Ltd. Consolidated Ltd. [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $6,828
Preferred stock to be redeemed within one year
Accounts payable (84,941)
Accrued taxes 427
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 19,634
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (58,052)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 602,400
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9,152)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 369,274
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 360,189
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 4,031
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 110,293
Accumulated other comprehensive income (loss) (286,465)
Retained earnings 121,323
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (54,849)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $853,719
============================================================= ==================== ==================== ====================
589
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loy Yang Holdings MEC Esenyurt B.V. MEC IES B.V.
Pty Ltd. Consolidated
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $12
Long-term debt classified as due within one year $41 11,281
Preferred stock to be redeemed within one year
Accounts payable (12,248) 47,171 $427
Accrued taxes 446 4,464 (103)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,418 7,331
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,343) 70,259 324
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 219 95,889
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 92 (9,041)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 59 42,471
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 151 33,430
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 43,593 25
Additional paid-in capital 37,088 93
Accumulated other comprehensive income (loss) (5,053) 71
Retained earnings 21,698 18,444 1,660
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 16,645 99,196 1,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,672 $298,774 $2,102
============================================================= ==================== ==================== ====================
590
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [7] Energy Power [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($2)
Accrued taxes (12)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 2
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (12)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23
Additional paid-in capital
Accumulated other comprehensive income (loss) 33
Retained earnings (34)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 22
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $10
============================================================= ==================== ==================== ====================
591
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Indo Coal B.V. MEC Indonesia B.V. MEC International
Holdings B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($6) $5 ($44)
Accrued taxes 275 (61) (23)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 269 (56) (67)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 22 21 21
Additional paid-in capital 11,476 126,849 5,042
Accumulated other comprehensive income (loss) (25,598)
Retained earnings 6,506 (173) 493
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 18,004 101,099 5,556
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $18,272 $101,042 $5,489
============================================================= ==================== ==================== ====================
592
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Laguna Power Gulf Power MEC Perth B.V.
B.V. Generation Co. Consolidated
Ltd. [7]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $1,328
Preferred stock to be redeemed within one year
Accounts payable $84 (14,875)
Accrued taxes (13) (537)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 2,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 71 (11,146)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 42,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (3,793)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 9,070
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 115
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 5,392
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 4,310
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23 23
Additional paid-in capital 6,003
Accumulated other comprehensive income (loss) (6,185)
Retained earnings (6,054) 26,302
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (28) 20,140
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $43 $61,473
============================================================= ==================== ==================== ====================
593
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Priolo B.V. MEC San Pascual MEC Sidi Krir B.V.
B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $127 $93 $24
Accrued taxes 117 (16) (13)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 244 77 11
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 21 23 25
Additional paid-in capital 31,323 4,745
Accumulated other comprehensive income (loss) 187
Retained earnings (9,848) (4,800) (29)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 21,683 (32) (4)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $21,927 $45 $7
============================================================= ==================== ==================== ====================
594
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Sumatra B.V. MEC Wales B.V. Mission Energy
Consolidated Company (UK)
Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215 $17,926
Preferred stock to be redeemed within one year
Accounts payable $24 (404,715) (8,481)
Accrued taxes (13) (6,463) 885
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603 9,473
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 11 (349,717) 19,803
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546 62,437
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579 31,178
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528 31,178
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 870
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 25 213,601 22,751
Additional paid-in capital 15,661
Accumulated other comprehensive income (loss) (192,414) (8,318)
Retained earnings (31) 371,257 42,568
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (6) 392,444 72,662
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5 $1,464,801 $186,950
============================================================= ==================== ==================== ====================
595
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission NZ Pride Hold Limited
Italia s.r.l. Operations B.V. Consolidated
(Inactive)
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $17,926
Preferred stock to be redeemed within one year
Accounts payable ($112) 394
Accrued taxes (149) 12
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 26 7,554
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (235) 25,886
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 62,437
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 31,230
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 343
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 343 31,230
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 553
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 12
Additional paid-in capital 145
Accumulated other comprehensive income (loss) (12) 6,710
Retained earnings 459 22,032
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 459 28,887
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $567 $148,993
============================================================= ==================== ==================== ====================
596
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EcoElectrica Southwestern Traralgon Power
S.a.r.l. Generation B.V. Pty. Ltd
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,218) $4 $2,372
Accrued taxes 132 (7)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (751) (3) 2,372
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 133,068
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (434)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (434)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 14 21
Additional paid-in capital 258,492 (24,644)
Accumulated other comprehensive income (loss) (13,978) (98,248)
Retained earnings (59) (13) (6,638)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 244,469 8 (129,530)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $243,718 $5 $5,476
============================================================= ==================== ==================== ====================
597
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC International Consolidating MEC International
B.V. Adjustments B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $23,700 $88,241
Long-term debt classified as due within one year $475 ($29,099) 45,835
Preferred stock to be redeemed within one year
Accounts payable 198,222 102,261 413,769
Accrued taxes (15,899) 11,208 (9,616)
Regulatory liabilities - net (2) 2
Trading and price risk management liabilities (4,485) 7,532
Other current liabilities 838 (54,115) 82,654
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 183,634 49,472 628,415
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 47,452 (785,629) 2,119,257
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (55) (51,097) 323,631
Accumulated deferred investment tax credits
Customer advances and other deferred credits (495,627)
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 388,939 438,930
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (55) (157,785) 762,561
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 155,495 493,234
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 75,028 (915,515) 75,028
Additional paid-in capital 1,499,993 942,379 1,929,355
Accumulated other comprehensive income (loss) 44,741 415,056 (300,385)
Retained earnings (23,485) (1,129,631) (613,907)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,596,277 1,090,091
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,827,308 ($2,338,870) $5,253,353
============================================================= ==================== ==================== ====================
598
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Adelaide Ventures Beheer-en Vindoor
Ltd. BeleggingsmaatschappiInvestments
Jydeno B.V. (Mauritius)
Limited [7]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income ($6)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (6)
Income taxes (benefit) 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (5)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9)
=============================================================== ==================== ==================== ====================
599
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Coaltrade Services Edison Mission Edison Mission LYB
International Pte Advantage B.V. PEDS Pty Ltd [7]
Ltd [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income ($6)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (6)
Income taxes (benefit) 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($5)
=============================================================== ==================== ==================== ====================
600
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Asia Pte Energy Energy Services
Ltd. Consolidated International B.V. B.V.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $5,638
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,638
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 7,071 $436
Depreciation, decommissioning and amortization 443 34
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,514 470
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (1,876) (470)
Interest and dividend income 50 4
Other nonoperating income 6,106 617 ($5)
Interest expense - net of amounts capitalized (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,277 151 (5)
Income taxes (benefit) 1,338 216 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,939 (65) (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2,939 (65) (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 25,373 (1,335) (13)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $28,312 ($1,400) ($16)
=============================================================== ==================== ==================== ====================
601
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Millennium B.V. Operation and Wind Power Italy
Consolidated Maintenance B.V.
Services B.V.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,885 $3,109
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,885 3,109
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $147 1,536 31
Depreciation, decommissioning and amortization 10
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 147 1,546 31
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (147) 339 3,078
Interest and dividend income 18 7 639
Other nonoperating income (35) 30 (6)
Interest expense - net of amounts capitalized (1,323)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (164) 376 2,388
Income taxes (benefit) (6) 132 221
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (158) 244 2,167
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (158) 244 2,167
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (82) (73) 242
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($240) $171 $2,409
=============================================================== ==================== ==================== ====================
602
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Italian Vento EME Atlantic EME Tri Gen B.V.
Power Corporation Holdings Limited
4 S.r.l. [7] Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $300,361 $1,571
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 300,361 1,571
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 157,080
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 47,950 48
Depreciation, decommissioning and amortization 26,157
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 231,187 48
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 69,174 1,523
Interest and dividend income 9,073
Other nonoperating income (689) (5)
Interest expense - net of amounts capitalized (20,332)
Other nonoperating deductions (18,853)
Dividends on preferred securities (8,811)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 29,562 1,518
Income taxes (benefit) 22,306 (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 7,256 1,520
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 7,256 1,520
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 27,735 155
Dividends declared on common stock (26,630)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $8,361 $1,675
=============================================================== ==================== ==================== ====================
603
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Victoria B.V. First Hydro First Hydro
(Inactive) Renewables Limited Renewables (COWL)
Limited
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
604
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Global Generation Hydro Energy B.V. Iberian
B.V. Consolidated Consolidated Hy-Power Amsterdam
B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $525,864 $18,123 $18,123
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 525,864 18,123 18,123
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,741
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 171,272 3,896 4,056
Depreciation, decommissioning and amortization 74,717 3,269 3,327
Write-down of nonutility assets
Property and other taxes 25,290 105
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 540,020 7,270 7,383
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (14,156) 10,853 10,740
Interest and dividend income 7,023 747 753
Other nonoperating income (39) (463) (394)
Interest expense - net of amounts capitalized (114,921) (7,350) (7,494)
Other nonoperating deductions (10) (10)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (122,093) 3,777 3,595
Income taxes (benefit) (24,961) 1,816 1,823
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (97,132) 1,961 1,772
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,921,401)
Income taxes (benefit) on discontinued operations (745,086)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,273,447) 1,961 1,772
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 11,544 16,156 21,626
Dividends declared on common stock (945) (9,442)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,261,903) $17,172 $13,956
=============================================================== ==================== ==================== ====================
605
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Latrobe Power Pty. Latrobe Valley B.V. Valley Power Pty
Ltd. Consolidated Ltd. [7]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $127,226
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 127,226
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 17,752
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 26,791
Depreciation, decommissioning and amortization 22,535
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 67,078
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 60,148
Interest and dividend income 7,481
Other nonoperating income (22)
Interest expense - net of amounts capitalized (51,548)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 16,059
Income taxes (benefit) 4,201
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 11,858
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 11,858
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 109,465
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $121,323
=============================================================== ==================== ==================== ====================
606
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Loy Yang Holdings MEC Esenyurt B.V. MEC IES B.V.
Pty. Ltd. Consolidated
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $9,424 $118,105 $1,279
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 9,424 118,105 1,279
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 76,881
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 15,290 14,534 40
Depreciation, decommissioning and amortization 612 6,557
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 15,902 97,972 40
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (6,478) 20,133 1,239
Interest and dividend income 361 (284) 2
Other nonoperating income 2,653 3,649 10
Interest expense - net of amounts capitalized (14) (13,341)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (3,478) 10,157 1,251
Income taxes (benefit) (955) 3,079 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (2,523) 7,078 1,247
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (2,523) 7,078 1,247
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 24,221 11,366 413
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $21,698 $18,444 $1,660
=============================================================== ==================== ==================== ====================
607
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [7] Energy Power [7]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $8
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 8
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (8)
Interest and dividend income 1
Other nonoperating income 2
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (5)
Income taxes (benefit) 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (6)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (28)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($34)
=============================================================== ==================== ==================== ====================
608
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Indo Coal B.V. MEC Indonesia B.V. MEC International
Holdings B.V.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $446 ($1,309)
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 446 (1,309)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 586 42
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 586 42
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (140) (1,351)
Interest and dividend income 6
Other nonoperating income (1,659) (6) ($8)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (1,793) (1,357) (8)
Income taxes (benefit) 102 2 (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (1,895) (1,355) (6)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,895) (1,355) (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 8,401 1,182 499
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $6,506 $173 $493
=============================================================== ==================== ==================== ====================
609
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Laguna Power Gulf Power MEC Perth B.V.
B.V. Generation Co. Consolidated
Ltd. [7]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $32,438
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 32,438
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 16,284
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $10 2,624
Depreciation, decommissioning and amortization 2,481
Write-down of nonutility assets 6,019
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 6,029 21,389
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (6,029) 11,049
Interest and dividend income (4) 1,909
Other nonoperating income (65)
Interest expense - net of amounts capitalized (4,841)
Other nonoperating deductions (1,549)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (6,033) 6,503
Income taxes (benefit) 1 1,989
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (6,032) 4,514
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (6,032) 4,514
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 22 21,788
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6,054) $26,302
=============================================================== ==================== ==================== ====================
610
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Priolo B.V. MEC San Pascual MEC Sidi Krir B.V.
B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $6,845
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 6,845
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 353 $4,760
Depreciation, decommissioning and amortization 616
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 969 4,760
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 5,876 (4,760)
Interest and dividend income (120)
Other nonoperating income (4) ($5)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 5,756 (4,764) (5)
Income taxes (benefit) (47) (1) 2
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 5,803 (4,763) (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 5,803 (4,763) (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (15,651) (37) (26)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,848) ($4,800) ($29)
=============================================================== ==================== ==================== ====================
611
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Sumatra B.V. MEC Wales B.V. Mission Energy
Consolidated Company (UK)
Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,725 $87,862
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,725 87,862
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907 33,272
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532 39,672
Depreciation, decommissioning and amortization 31,205 11,076
Write-down of nonutility assets
Property and other taxes 187
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,644 84,207
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 67,081 3,655
Interest and dividend income 122,368 1,005
Other nonoperating income ($5) (710) 25,953
Interest expense - net of amounts capitalized (179,533) (5,243)
Other nonoperating deductions (28) (253)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (5) 9,178 25,117
Income taxes (benefit) 2 (9,162) (1,514)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (3) 18,340 26,631
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (3) 18,340 26,631
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (28) 806,729 87,955
Dividends declared on common stock (453,812) (72,018)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($31) $371,257 $42,568
=============================================================== ==================== ==================== ====================
612
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Mission NZ Pride Hold Limited
Italia s.r.l. Operations B.V. Consolidated
(Inactive)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,084 $82,757
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,084 82,757
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 33,340
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,536 14,524
Depreciation, decommissioning and amortization 73 7,690
Write-down of nonutility assets
Property and other taxes 2
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,611 55,554
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (527) 27,203
Interest and dividend income 5 (10,798)
Other nonoperating income 1,031
Interest expense - net of amounts capitalized (5,243)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 509 11,162
Income taxes (benefit) 188 (2,146)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 321 13,308
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 321 13,308
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 138 8,724
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $459 $22,032
=============================================================== ==================== ==================== ====================
613
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EcoElectrica Southwestern Traralgon Power
S.a.r.l. Generation B.V. Pty. Ltd.
Consolidated Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $13,285 $4,293
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 13,285 4,293
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 76
Depreciation, decommissioning and amortization 6,398
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 6,474
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 6,811 4,293
Interest and dividend income 77 46
Other nonoperating income (5) ($5) 60
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 6,883 (5) 4,399
Income taxes (benefit) 3 2 1,139
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,880 (3) 3,260
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,880 (3) 3,260
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (6,939) (10) (9,898)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($59) ($13) ($6,638)
=============================================================== ==================== ==================== ====================
614
MEC International B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC International Consolidating MEC International
B.V. Adjustments B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($708,362) $973,772
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (708,362) 973,772
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (334,861) 382,396
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $1,445 (243,983) 226,283
Depreciation, decommissioning and amortization 1,776 (94,935) 104,041
Write-down of nonutility assets (6,019)
Property and other taxes (25,396) 188
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3,221 712,908
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (3,221) 260,864
Interest and dividend income 29,159 (156,873) 12,655
Other nonoperating income 3,171 (26,011)
Interest expense - net of amounts capitalized (22,645) (217,919)
Other nonoperating deductions (13,588) (34,291)
Dividends on preferred securities 797 (8,014)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 6,464 (39,306)
Income taxes (benefit) (294) (29,052)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,758 (1,175,933) (10,254)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,921,401)
Income taxes (benefit) on discontinued operations 745,086
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,758 (1,166,061)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (30,243) (567,166) 552,155
Dividends declared on common stock $562,846 (1)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($23,485) ($613,907)
=============================================================== ==================== ==================== ====================
615
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Asia Energy Fuel Operation and
Pacific Pte Ltd. Company Pte Ltd. Maintenance
Services Pte Ltd.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1,246
Receivables - net $27 15,000
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 10
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 37 16,246
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 2
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $39 $16,246
============================================================= ==================== ==================== ====================
616
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
P.T. Edison Edison Mission Consolidating
Mission Operation Energy Asia Pte Adjustments
and Maintenance Ltd.
Indonesia
------------------------------------------------------------- -------------------- -------------------- ----------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- ----------------------
Cash and equivalents $2,130 $998 $7
Receivables - net 764 326
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 57 535 8
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total current assets 2,951 1,859 15
------------------------------------------------------------- -------------------- -------------------- ----------------------
Nonutility property - net 647 16
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 339,883 (1,307)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total investment and other assets 340,530 (1,291)
------------------------------------------------------------- -------------------- -------------------- ----------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- ----------------------
Regulatory assets - net
Other deferred charges 2,166
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total deferred charges 2,166
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total assets $2,951 $344,555 ($1,276)
============================================================= ==================== ==================== ======================
617
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission
Energy Asia Pte
Ltd Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $4,381
Receivables - net 16,117
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 610
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 21,108
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 338,576
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 339,241
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,166
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,166
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $362,515
============================================================= ==================== ==================== ====================
618
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Asia Energy Fuel Operation and
Pacific Pte Ltd. Company Pte Ltd. Maintenance
Services Pte Ltd.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $14,858
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities $148
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 148 14,858
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 374
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 374
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) 14 4
Retained earnings (123) 1,010
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (109) 1,014
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $39 $16,246
============================================================= ==================== ==================== ====================
619
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
P.T. Edison Edison Mission Consolidating
Mission Operation Energy Asia Pte Adjustments
and Maintenance Ltd.
Indonesia
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $559 ($20,474) $811
Accrued taxes 174 85 2
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 22 639 (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 755 (19,750) 812
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 41
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 682
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 41 (41)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 723 (41)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 15
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 337,141 (1,500)
Additional paid-in capital 1,500 1,485
Accumulated other comprehensive income (loss) (29) (2,347)
Retained earnings 696 24,985 1,744
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,196 363,582 (2,103)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,951 $344,555 ($1,276)
============================================================= ==================== ==================== ====================
620
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission
Energy Asia Pte
Ltd. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($4,246)
Accrued taxes 261
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 808
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3,177)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 41
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,056
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,056
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 15
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 335,641
Additional paid-in capital 2,985
Accumulated other comprehensive income (loss) (2,358)
Retained earnings 28,312
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 364,580
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $362,515
============================================================= ==================== ==================== ====================
621
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Asia Energy Fuel Operations and
Pacific Pte Ltd Company Pte Ltd. Maintenance
Services Pte Ltd.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $266 $2,009
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 266 2,009
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (266) (2,009)
Interest and dividend income 4
Other nonoperating income 182 3,001
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (80) 992
Income taxes (benefit) 8 247
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (88) 745
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (88) 745
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (35) 265
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($123) $1,010
=============================================================== ==================== ==================== ====================
622
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
P.T. Edison Edison Mission Consolidating
Mission Operation Energy Asia Pte Adjustments
and Maintenance Ltd.
Indonesia
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $5,638
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,638
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 4,388 $2,158 ($1,750)
Depreciation, decommissioning and amortization 1 422 20
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,389 2,580 (1,730)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 1,249 (2,580) 1,730
Interest and dividend income 34 12
Other nonoperating income (26) 4,971 (2,022)
Interest expense - net of amounts capitalized (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 1,257 2,400 (292)
Income taxes (benefit) 443 641 1
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 814 1,759 (291)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 814 1,759 (291)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (118) 23,226 2,035
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $696 $24,985 $1,744
=============================================================== ==================== ==================== ====================
623
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission
Energy Asia Pte
Ltd. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $5,638
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,638
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 7,071
Depreciation, decommissioning and amortization 443
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,514
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (1,876)
Interest and dividend income 50
Other nonoperating income 6,106
Interest expense - net of amounts capitalized (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,277
Income taxes (benefit) 1,338
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,939
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2,939
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 25,373
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $28,312
=============================================================== ==================== ==================== ====================
624
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Caliraya B.V. CBK Power Company EME Kayalaan B.V.
Ltd. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3 $2
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3 2
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 26,789 304
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 26,789 304
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $26,771 $306
============================================================= ==================== ==================== ====================
625
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
CBK Power Company Edison Mission Consolidating
Ltd. [8] Millennium B.V. Adjustments
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
ASSETS
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Cash and equivalents $9
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Total current assets 9
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 30,587 ($30,587)
Investments in leveraged leases
Other investments
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Total investment and other assets 30,587 (30,587)
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Total utility plant
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Total deferred charges
------------------------------------------------------------- ---------------------- ---------------------- ----------------------
Total assets $30,596 ($30,587)
============================================================= ====================== ====================== ======================
626
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission
Millennium B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $14
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 14
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 27,093
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 27,093
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $27,086
============================================================= ==================== ==================== ====================
627
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Caliraya B.V. CBK Power Company EME Kayalaan B.V.
Ltd. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $123 ($15)
Accrued taxes (8) (28)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 115 (43)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 24 24
Additional paid-in capital 30,137 402
Accumulated other comprehensive income (loss) (3,347)
Retained earnings (158) (77)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 26,656 349
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $26,771 $306
============================================================= ==================== ==================== ====================
628
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 6]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
CBK Power Company Edison Mission Consolidating
Ltd. [8] Millennium B.V. Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes ($3)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 17 ($48)
Additional paid-in capital 30,587 (30,539)
Accumulated other comprehensive income (loss)
Retained earnings (5)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 30,599 (30,587)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $30,596 ($30,587)
============================================================= ==================== ==================== ====================
629
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission
Millennium B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $108
Accrued taxes (39)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 69
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 17
Additional paid-in capital 30,587
Accumulated other comprehensive income (loss) (3,347)
Retained earnings (240)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 27,017
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $27,086
============================================================= ==================== ==================== ====================
630
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Caliraya B.V. CBK Power Company EME Kayalaan B.V.
Ltd. [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $139 $8
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 139 8
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (139) (8)
Interest and dividend income 18
Other nonoperating income (6) (23)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (145) (13)
Income taxes (benefit) (2) (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (143) (11)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (143) (11)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (15) (66)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($158) ($77)
=============================================================== ==================== ==================== ====================
631
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
CBK Power Company Edison Mission Consolidating
Ltd. [8] Millennium B.V. Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income ($6)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (6)
Income taxes (benefit) (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($5)
=============================================================== ==================== ==================== ====================
632
MEC International B.V.
Edison Mission Millennium B.V. and Subsidiaries[Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission
Millennium B.V.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $147
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 147
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (147)
Interest and dividend income 18
Other nonoperating income (35)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (164)
Income taxes (benefit) (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (158)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (158)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (82)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($240)
=============================================================== ==================== ==================== ====================
633
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V. and Subsidiaries[Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission EME Philippines Kalayaan Power
Operation and Services Management
Maintenance Corporation Corporation
(Thailand) Company
Limited
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $103 $459
Receivables - net 168
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 136
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 103 763
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 34
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 34
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 3
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $103 $800
============================================================= ==================== ==================== ====================
634
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V. and Subsidiaries[Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Consolidating Edison Mission
Operation and Adjustments Operation and
Maintenance Maintenance
Services, B.V. Services B.V.
Consolidated
------------------------------------------------------------- --------------------- --------------------- --------------------
ASSETS
------------------------------------------------------------- --------------------- --------------------- --------------------
Cash and equivalents $1 $563
Receivables - net 168
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 136
------------------------------------------------------------- --------------------- --------------------- --------------------
Total current assets 1 867
------------------------------------------------------------- --------------------- --------------------- --------------------
Nonutility property - net 34
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 412 ($309) 103
Investments in leveraged leases
Other investments
------------------------------------------------------------- --------------------- --------------------- --------------------
Total investment and other assets 412 (309) 137
------------------------------------------------------------- --------------------- --------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- --------------------- --------------------- --------------------
Total utility plant
------------------------------------------------------------- --------------------- --------------------- --------------------
Regulatory assets - net
Other deferred charges 3
------------------------------------------------------------- --------------------- --------------------- --------------------
Total deferred charges 3
------------------------------------------------------------- --------------------- --------------------- --------------------
Total assets $413 ($309) $1,007
============================================================= ===================== ===================== ====================
635
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V. and Subsidiaries[Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission EME Philippines Kalayaan Power
Operation and Services Management
Maintenance Corporation Corporation
(Thailand) Company
Limited
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1 $398
Accrued taxes 48
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1 446
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 103 206
Additional paid-in capital
Accumulated other comprehensive income (loss) (43)
Retained earnings (1) 191
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 102 354
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $103 $800
============================================================= ==================== ==================== ====================
636
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V. and Subsidiaries[Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Consolidating Edison Mission
Operation and Adjustments Operation and
Maintenance Maintenance
Services, B.V. Services B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $9 $408
Accrued taxes (9) 39
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 447
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 19 ($309) 19
Additional paid-in capital 412 412
Accumulated other comprehensive income (loss) (43)
Retained earnings (18) 172
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 413 (309) 560
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $413 ($309) $1,007
============================================================= ==================== ==================== ====================
637
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V. and Subsidiaries[Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission EME Philippines Kalayaan Power
Operation and Services Management
Maintenance Corporation Corporation
(Thailand) Company
Ltd
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $1,885
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,885
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,536
Depreciation, decommissioning and amortization 10
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,546
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 339
Interest and dividend income 6
Other nonoperating income 36
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 381
Income taxes (benefit) 134
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 247
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 247
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year ($1) (56)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1) $191
=============================================================== ==================== ==================== ====================
638
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V. and Subsidiaries[Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Consolidating Edison Mission
Operation and Adjustments Operation and
Maintenance Maintenance
Services, B.V. Services B.V.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $1,885
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,885
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,536
Depreciation, decommissioning and amortization 10
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,546
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 339
Interest and dividend income 6
Other nonoperating income ($5) 31
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (5) 376
Income taxes (benefit) (2) 132
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (3) 244
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (3) 244
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (15) (72)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($18) $172
=============================================================== ==================== ==================== ====================
639
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Ascot Limited EME Buckingham EME Precision B.V.
Limited [8] [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $664
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 664
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $297,622 $297,643 172,350
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 297,622 297,643 172,350
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (21)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $297,622 $297,622 $173,014
============================================================= ==================== ==================== ====================
640
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy EME Atlantic Consolidating
Universal Holdings Holdings Limited Adjustments
Consolidated [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $13,036 $1
Receivables - net 42,377
Fuel inventory
Materials and supplies, at average cost 5,340
Accumulated deferred income taxes - net
Trading and price risk management assets 29,112
Prepayments and other current assets 872
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 90,737 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 871,952
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 27,488 $297,622 (1,065,237)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 899,440 297,622 (1,065,237)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 371,635
Other deferred charges 4,547
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 376,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,366,359 $297,622 ($1,065,236)
============================================================= ==================== ==================== ====================
641
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Atlantic
Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $13,701
Receivables - net 42,377
Fuel inventory
Materials and supplies, at average cost 5,340
Accumulated deferred income taxes - net
Trading and price risk management assets 29,112
Prepayments and other current assets 872
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 91,402
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 871,952
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 27,488
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 899,440
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
GOODWILL 371,635
Other deferred charges 4,526
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 376,161
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,367,003
============================================================= ==================== ==================== ====================
642
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Ascot Limited EME Buckingham EME Precision B.V.
Limited [8] [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $25 $19 ($149,044)
Accrued taxes 278
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 15 15
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 40 34 (148,766)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 297,622 297,622 297,643
Additional paid-in capital
Accumulated other comprehensive income (loss) 18,202
Retained earnings (40) (34) 5,935
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 297,582 297,588 321,780
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $297,622 $297,622 $173,014
============================================================= ==================== ==================== ====================
643
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy EME Atlantic Consolidating
Universal Holdings Holdings Limited Adjustments
Consolidated [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $64,529
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable 42,935 $88
Accrued taxes (2,723)
Regulatory liabilities - net
Trading and price risk management liabilities 2,406
Other current liabilities 2,938 40 $1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 110,085 128 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 385,446
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 76,983
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 6,270
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 83,253
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 326,994
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 172,543 297,622 (1,065,237)
Additional paid-in capital 275,752
Accumulated other comprehensive income (loss) (94,292)
Retained earnings 2,628 (128)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 356,631 297,494 (1,065,237)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,366,359 $297,622 ($1,065,236)
============================================================= ==================== ==================== ====================
644
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Atlantic
Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $64,529
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable (105,977)
Accrued taxes (2,445)
Regulatory liabilities - net
Trading and price risk management liabilities 2,406
Other current liabilities 3,009
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (38,478)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 385,446
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 76,983
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 6,270
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 83,253
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 326,994
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 297,815
Additional paid-in capital 275,752
Accumulated other comprehensive income (loss) (76,090)
Retained earnings 8,361
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 505,838
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,367,003
============================================================= ==================== ==================== ====================
645
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Ascot Limited EME Buckingham EME Precision B.V.
Limited [8] [9]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $40 $34
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 40 34
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (40) (34) $6,918
Interest and dividend income (688)
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (40) (34) 6,230
Income taxes (benefit) 279
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (40) (34) 5,951
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (40) (34) 5,951
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (16)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($40) ($34) $5,935
=============================================================== ==================== ==================== ====================
646
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy EME Atlantic Consolidating
Universal Holdings Holdings Limited Adjustments
Consolidated [10]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $300,361
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 300,361
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 157,080
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 47,747 $128
Depreciation, decommissioning and amortization 26,156
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 230,983 128
--------------------------------------------------------------- -------------------- -------------------- --------------------
(128)
Operating income (loss) 69,378
Interest and dividend income 2,155
Other nonoperating income (1)
Interest expense - net of amounts capitalized (20,332)
Other nonoperating deductions (18,853)
Dividends on preferred securities (8,811)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 23,536 (128)
Income taxes (benefit) 22,027
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,509 (128)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,509 (128)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 27,749
Dividends declared on common stock (26,630)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,628 ($128)
=============================================================== ==================== ==================== ====================
647
MEC International B.V.
EME Atlantic Holdings Limited and Subsidiaries[Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Atlantic
Holdings Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $300,361
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 300,361
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 157,080
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 47,950
Depreciation, decommissioning and amortization 26,157
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 231,187
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 69,174
Interest and dividend income 9,073
Other nonoperating income (689)
Interest expense - net of amounts capitalized (20,332)
Other nonoperating deductions (18,853)
Dividends on preferred securities (8,811)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 29,562
Income taxes (benefit) 22,306
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 7,256
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 7,256
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 27,735
Dividends declared on common stock (26,630)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $8,361
=============================================================== ==================== ==================== ====================
648
MEC International B.V., EME Atlantic Holdings Limited,
Mission Energy Universal Holdings and Subsidiaries[Tier 11, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Contact Mission Energy Mission Energy
Finance Limited Five Star Pacific Holdings
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $32 $59 $8,979
Receivables - net 42,377
Fuel inventory
Materials and supplies, at average cost 5,340
Accumulated deferred income taxes - net
Trading and price risk management assets 29,112
Prepayments and other current assets 872
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 32 59 86,680
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 871,952
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 103,950 27,488
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 103,950 899,440
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 376,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 376,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $103,982 $59 $1,362,302
============================================================= ==================== ==================== ====================
649
MEC International B.V., EME Atlantic Holdings Limited,
Mission Energy Universal Holdings and Subsidiaries[Tier 11, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Consolidating Mission Energy
Universal Holdings Adjustments Universal Holdings
Consolidated
------------------------------------------------------------- ---------------------- ---------------------- --------------------
ASSETS
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Cash and equivalents $3,966 $13,036
Receivables - net 42,377
Fuel inventory
Materials and supplies, at average cost 5,340
Accumulated deferred income taxes - net
Trading and price risk management assets 29,112
Prepayments and other current assets 872
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Total current assets 3,966 90,737
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Nonutility property - net 871,952
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 166,985 ($270,935) 27,488
Investments in leveraged leases
Other investments
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Total investment and other assets 166,985 (270,935) 899,440
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Total utility plant
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Regulatory assets - net
Other deferred charges 376,182
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Total deferred charges 376,182
------------------------------------------------------------- ---------------------- ---------------------- --------------------
Total assets $170,951 ($270,935) $1,366,359
============================================================= ====================== ====================== ====================
650
MEC International B.V., EME Atlantic Holdings Limited,
Mission Energy Universal Holdings and Subsidiaries[Tier 11, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Contact Mission Energy Mission Energy
Finance Limited Five Star Pacific Holdings
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $64,529
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $31 $639 53,137
Accrued taxes (2,884)
Regulatory liabilities - net
Trading and price risk management liabilities 2,405
Other current liabilities 2,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 31 639 120,125
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 385,446
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 76,983
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 6,270
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 83,253
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 331,576
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption 103,950 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 103,950 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,147 205,477
Additional paid-in capital 218,356
Accumulated other comprehensive income (loss) (307) (98,405)
Retained earnings 1 (1,420) 12,524
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1 (580) 337,952
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $103,982 $59 $1,362,302
============================================================= ==================== ==================== ====================
651
MEC International B.V., EME Atlantic Holdings Limited,
Mission Energy Universal Holdings and Subsidiaries[Tier 11, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Consolidating Mission Energy
Universal Holdings Adjustments Universal Holdings
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $64,529
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($10,872) 42,935
Accrued taxes 132 $29 (2,723)
Regulatory liabilities - net
Trading and price risk management liabilities 1 2,406
Other current liabilities 2,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,740) 30 110,085
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 385,446
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 76,983
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 6,270
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 83,253
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest (4,582) 326,994
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption (103,950) 103,950
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries (103,950) 103,950
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 229,939 (264,020) 172,543
Additional paid-in capital 57,396 275,752
Accumulated other comprehensive income (loss) (49,452) 53,872 (94,292)
Retained earnings 1,204 (9,681) 2,628
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 181,691 (162,433) 356,631
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $170,951 ($270,935) $1,366,359
============================================================= ==================== ==================== ====================
652
MEC International B.V., EME Atlantic Holdings Limited,
Mission Energy Universal Holdings and Subsidiaries[Tier 11, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Contact Mission Energy Mission Energy
Finance Limited Five Star Pacific Holdings
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $301,953
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 301,953
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 157,419
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $1,505 45,638
Depreciation, decommissioning and amortization 26,176
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,505 229,233
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (1,505) 72,720
Interest and dividend income $1 223 991
Other nonoperating income (1)
Interest expense - net of amounts capitalized (88) (23,841)
Other nonoperating deductions (21,283)
Dividends on preferred securities (8,811)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 1 (1,370) 19,775
Income taxes (benefit) 50 23,115
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1 (1,420) (3,340)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1 (1,420) (3,340)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 42,300
Dividends declared on common stock (26,436)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1 ($1,420) $12,524
=============================================================== ==================== ==================== ====================
653
MEC International B.V., EME Atlantic Holdings Limited,
Mission Energy Universal Holdings and Subsidiaries[Tier 11, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Consolidating Mission Energy
Universal Holdings Adjustments Universal Holdings
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $235 ($1,827) $300,361
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 235 (1,827) 300,361
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (339) 157,080
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 6 598 47,747
Depreciation, decommissioning and amortization (20) 26,156
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 6 239 230,983
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 229 (2,066) 69,378
Interest and dividend income 2,059 (1,119) 2,155
Other nonoperating income (1)
Interest expense - net of amounts capitalized (4) 3,601 (20,332)
Other nonoperating deductions 2,430 (18,853)
Dividends on preferred securities (8,811)
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,284 2,846 23,536
Income taxes (benefit) 490 (1,628) 22,027
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,794 4,474 1,509
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,794 4,474 1,509
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (396) (14,155) 27,749
Dividends declared on common stock (194) (26,630)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,204 ($9,681) $2,628
=============================================================== ==================== ==================== ====================
654
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Caresale Services Edison First Power Redbill Contracts
Limited Holdings II Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $69 $1,060
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 72
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 69 1,132
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 10,711
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 10,711
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of Discontinued Operations 153,610
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 153,610
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $69 $165,453
============================================================= ==================== ==================== ====================
655
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Global Generation Consolidating Global Generation
B.V. Adjustments B.V. Consolidated
------------------------------------------------------------- -------------------- ---------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- ---------------------- --------------------
Cash and equivalents $131 $1,260
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets $1 73
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total current assets 131 1 1,333
------------------------------------------------------------- -------------------- ---------------------- --------------------
Nonutility property - net 10,711
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,046,456 (1,046,456)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total investment and other assets 1,046,456 (1,046,456) 10,711
------------------------------------------------------------- -------------------- ---------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- ---------------------- --------------------
Assets of Discontinued Operations 153,610
Other deferred charges
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total deferred charges 153,610
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total assets $1,046,587 ($1,046,455) $165,654
============================================================= ==================== ====================== ====================
656
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Caresale Services Edison First Power Redbill Contracts
Limited Holdings II Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $2 $934
Accrued taxes (3) 653
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 17 2,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16 4,229
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 251,594
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Liabilities of Discontinued Operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 523,034 1,046,456
Additional paid-in capital
Accumulated other comprehensive income (loss) (4,860) 2,347
Retained earnings (518,121) (1,195,018)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 53 (146,215)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $69 $165,453
============================================================= ==================== ==================== ====================
657
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Global Generation Consolidating Global Generation
B.V. Adjustments B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $671,283 ($2) $672,217
Accrued taxes (4,250) 73 (3,527)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 35 (17) 2,677
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 667,068 54 671,367
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 251,594
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Liabilities from Discontinued Operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 40 (1,569,490) 40
Additional paid-in capital 446,211 1 446,212
Accumulated other comprehensive income (loss) 152 4,860 2,499
Retained earnings (66,884) 518,120 (1,261,903)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 379,519 (1,046,509) (813,152)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,046,587 ($1,046,455) $165,654
============================================================= ==================== ==================== ====================
658
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Caresale Services Edison First Power Redbill Contracts
Limited Holdings II Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $525,864
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 525,864
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,741
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $37 171,096
Depreciation, decommissioning and amortization 74,717
Write-down of nonutility assets
Property and other taxes 25,291
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 37 539,845
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (37) (13,981)
Interest and dividend income 3 6,074
Other nonoperating income
Interest expense - net of amounts capitalized (518,157) (82,921)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (518,191) (90,828)
Income taxes (benefit) (24,858)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (518,191) (65,970)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,921,401)
Income taxes (benefit) on discontinued operations (745,086)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (518,191) (1,242,285)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 70 47,267
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($518,121) ($1,195,018)
=============================================================== ==================== ==================== ====================
659
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Global Generation Consolidating Global Generation
B.V. Adjustments B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $525,864
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 525,864
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,741
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $176 ($37) 171,272
Depreciation, decommissioning and amortization 74,717
Write-down of nonutility assets
Property and other taxes (1) 25,290
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 176 (38) 540,020
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (176) 38 (14,156)
Interest and dividend income 949 (3) 7,023
Other nonoperating income (39) (39)
Interest expense - net of amounts capitalized (32,000) 518,157 (114,921)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (31,266) 518,192 (122,093)
Income taxes (benefit) (104) 1 (24,961)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (31,162) 518,191 (97,132)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,921,401)
Income taxes (benefit) on discontinued operations (745,086)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (31,162) 518,191 (1,273,447)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (35,722) (71) 11,544
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($66,884) $518,120 ($1,261,903)
=============================================================== ==================== ==================== ====================
660
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II and Subsidiaries
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison First Power Edison First Power Consolidating
I Holdings II Holdings Adjustments
------------------------------------------------------------- -------------------- -------------------- ----------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- ----------------------
Cash and equivalents $63,170 ($62,110)
Receivables - net 86,398 (86,398)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1,546 (1,474)
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total current assets 151,114 (149,982)
------------------------------------------------------------- -------------------- -------------------- ----------------------
Nonutility property - net 10,711
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $18 (18)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total investment and other assets 10,711 18 (18)
------------------------------------------------------------- -------------------- -------------------- ----------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- ----------------------
Assets of Discontinued Operations 1,607 152,003
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total deferred charges 1,607 152,003
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total assets $163,432 $18 $2,003
============================================================= ==================== ==================== ======================
661
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II and Subsidiaries
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison First Power
II Holdings
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1,060
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 72
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,132
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 10,711
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 10,711
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of Discontinued Operations 153,610
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 153,610
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $165,453
============================================================= ==================== ==================== ====================
662
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II and Subsidiaries
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison First Power Edison First Power Consolidating
I Holdings II Holdings Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year $14,318 ($13,384)
Accounts payable (1,296) 1,949
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 45,084 (42,442)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 58,106 (53,877)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 491,901 (240,307)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Liabilities of Discontinued Operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (2,650,004) $724,470 2,971,990
Additional paid-in capital
Accumulated other comprehensive income (loss) 13,962 (3,095) (8,520)
Retained earnings 2,249,467 (721,357) (2,723,128)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (386,575) 18 240,342
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $163,432 $18 $2,003
============================================================= ==================== ==================== ====================
663
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II and Subsidiaries
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison First Power
II Holdings
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $934
Accrued taxes 653
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 2,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,229
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 251,594
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Liabilities of Discontinued Operations 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 55,845
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,046,456
Additional paid-in capital
Accumulated other comprehensive income (loss) 2,347
Retained earnings (1,195,018)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (146,215)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $165,453
============================================================= ==================== ==================== ====================
664
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison First Power Edison First Power Consolidating
I Holdings II Holdings Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $515,849 $10,015
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 515,849 10,015
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,328 413
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 159,975 11,121
Depreciation, decommissioning and amortization 51,746 22,971
Write-down of nonutility assets
Property and other taxes 25,287 4
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 505,336 34,509
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 10,513 (24,494)
Interest and dividend income 6,071 3
Other nonoperating income 3,219 ($721,357) 718,138
Interest expense - net of amounts capitalized (263,009) 180,088
Other nonoperating deductions 2,480,651 (2,480,651)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,237,445 (721,357) (1,606,916)
Income taxes (benefit) (24,858)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,237,445 (721,357) (1,582,058)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,921,401)
Income taxes (benefit) on discontinued operations (745,086)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2,237,445 (721,357) (2,758,373)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 12,022 35,245
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,249,467 ($721,357) ($2,723,128)
=============================================================== ==================== ==================== ====================
665
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison First Power
II Holdings
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $525,864
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 525,864
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,741
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 171,096
Depreciation, decommissioning and amortization 74,717
Write-down of nonutility assets
Property and other taxes 25,291
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 539,845
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (13,981)
Interest and dividend income 6,074
Other nonoperating income
Interest expense - net of amounts capitalized (82,921)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (90,828)
Income taxes (benefit) (24,858)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (65,970)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax) (1,921,401)
Income taxes (benefit) on discontinued operations (745,086)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,242,285)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 47,267
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,195,018)
=============================================================== ==================== ==================== ====================
666
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Caresale Services Edison Mission EME Finance UK
Limited Marketing and Limited
Services Limited
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $69 $1,129
Receivables - net 11
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 72
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 69 1,212
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 10,712
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 10,712
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $69 $11,924
============================================================= ==================== ==================== ====================
667
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
South Australian Energy Generation Maplekey Holdings
Holdings Ltd. Finance PLC Limited
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $62,039
Receivables - net 86,388
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1,474
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 149,901
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 1,607
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,607
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $151,508
============================================================= ==================== ==================== ====================
668
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison First Power Consolidating Edison First Power
Holdings I Adjustments Holdings I
Consolidated
------------------------------------------------------------- -------------------- ---------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- ---------------------- --------------------
Cash and equivalents ($67) $63,170
Receivables - net 86,398
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1,546
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total current assets (67) 151,114
------------------------------------------------------------- -------------------- ---------------------- --------------------
Nonutility property - net 1 10,711
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total investment and other assets 10,711
------------------------------------------------------------- -------------------- ---------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- ---------------------- --------------------
Regulatory assets - net
Other deferred charges 1,607
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total deferred charges 1,607
------------------------------------------------------------- -------------------- ---------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Assets of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($67) $163,432
============================================================= ==================== ====================== ====================
669
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Caresale Services Edison Mission EME Finance UK
Limited Marketing and Limited
Services Limited
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $2 ($3,116) ($251,594)
Accrued taxes (3) 734
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 17 2,642 4
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16 260 (251,590)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (251,594)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 523,034
Additional paid-in capital 11,664 18
Accumulated other comprehensive income (loss) (4,860) (102) (47)
Retained earnings (518,121) 102 25
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 53 11,664 ($4)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $69 $11,924
============================================================= ==================== ==================== ====================
670
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
South Australian Energy Generation Maplekey Holdings
Holdings Ltd. Finance PLC Limited
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $268,937
Accrued taxes (1,466)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities $2 42,325
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2 309,796
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 18 418,838
Additional paid-in capital
Accumulated other comprehensive income (loss) 1 (7,855)
Retained earnings (22) (569,272)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($3) (158,289)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $151,507
============================================================= ==================== ==================== ====================
671
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison First Power Consolidating Edison First Power
Holdings I Adjustments Holdings I
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $89 $14,318
Accrued taxes (561) (1,296)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 94 45,084
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (378) 58,106
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 491,901
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
------------------------------------------------------------- -------------------- -------------------- --------------------
Liabilities of discontinued operations
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (3,591,894) (2,650,004)
Additional paid-in capital (11,682)
Accumulated other comprehensive income (loss) 26,825 13,962
Retained earnings 3,336,755 2,249,467
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (239,996) (386,575)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($66) $163,432
============================================================= ==================== ==================== ====================
672
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Caresale Services Edison Mission EME Finance UK
Limited Marketing and Limited
Services Limited
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $37 $7,586
Depreciation, decommissioning and amortization 3,300
Write-down of nonutility assets
Property and other taxes 49
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 37 10,935
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (37) (10,935)
Interest and dividend income 3 18
Other nonoperating income 11,131 $5,444
Interest expense - net of amounts capitalized (518,157)
Other nonoperating deductions (5,416)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (518,191) 214 28
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (518,191) 214 28
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (518,191) 214 28
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 70 (112) (3)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($518,121) $102 $25
=============================================================== ==================== ==================== ====================
673
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
South Australian Energy Generation Maplekey Holdings
Holdings Ltd. Finance PLC Limited
Consolidated Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $515,849
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 515,849
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,328
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $3 184,715
Depreciation, decommissioning and amortization 48,447
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 501,490
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (3) 14,359
Interest and dividend income 5,498
Other nonoperating income
Interest expense - net of amounts capitalized (200,739)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (3) (180,882)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (3) (180,882)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (3) (180,882)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (19) (371,387)
Dividends declared on common stock (17,003)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($22) ($569,272)
=============================================================== ==================== ==================== ====================
674
MEC International B.V., Global Generation B.V.,
Edison First Power Holdings II,
Edison First Power Holdings I and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison First Power Consolidating Edison First Power
Holdings I Adjustments Holdings I
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $515,849
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 515,849
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,328
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance ($32,366) 159,975
Depreciation, decommissioning and amortization (1) 51,746
Write-down of nonutility assets
Property and other taxes 25,238 25,287
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (7,129) 505,336
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 7,129 10,513
Interest and dividend income 552 6,071
Other nonoperating income (13,356) 3,219
Interest expense - net of amounts capitalized 455,887 (263,009)
Other nonoperating deductions 2,486,067 2,480,651
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,936,279 2,237,445
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 2,936,279 2,237,445
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 2,936,279 2,237,445
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 383,473 12,022
Ddends declared on common stock 17,003
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $3,336,755 $2,249,467
=============================================================== ==================== ==================== ====================
675
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd. and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission EME International
Retail Pty Ltd. Utilities Pty. Ltd. Dragon Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- ----------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- ----------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- ----------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- ----------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- ----------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- ----------------------
Total assets
============================================================= ==================== ==================== ======================
676
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd. and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
South Australian Consolidating South Australian
Holdings Ltd. Adjustments Holdings Ltd.
Consolidated
------------------------------------------------------------- -------------------- ---------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- ---------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- ---------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- ---------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- ---------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total assets
============================================================= ==================== ====================== ====================
677
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd. and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission EME International
Retail Pty Ltd. Utilities Pty. Ltd. Dragon Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
678
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd. and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
South Australian Consolidating South Australian
Holdings Ltd. Adjustments Holdings Ltd.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
679
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd. and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission EME International
Retail Pty Ltd. Utilities Pty. Ltd. Dragon Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
680
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd. and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
South Australian Consolidating South Australian
Holdings Ltd. Adjustments Holdings Ltd.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
681
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission EME Adelaide EME Monet Ltd.
Ausone Pty Ltd. Energy Ltd.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
682
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission EME International Consolidating
Vendesi Pty Ltd. Dragon Limited Adjustments
[11]
------------------------------------------------------------- --------------------- --------------------- ---------------------
ASSETS
------------------------------------------------------------- --------------------- --------------------- ---------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total current assets
------------------------------------------------------------- --------------------- --------------------- ---------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total investment and other assets
------------------------------------------------------------- --------------------- --------------------- ---------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total utility plant
------------------------------------------------------------- --------------------- --------------------- ---------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total deferred charges
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total assets
============================================================= ===================== ===================== =====================
683
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME International
Dragon Limited
Consolidated
------------------------------------------------------------- --------------------- --------------------- ---------------------
ASSETS
------------------------------------------------------------- --------------------- --------------------- ---------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total current assets
------------------------------------------------------------- --------------------- --------------------- ---------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total investment and other assets
------------------------------------------------------------- --------------------- --------------------- ---------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total utility plant
------------------------------------------------------------- --------------------- --------------------- ---------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total deferred charges
------------------------------------------------------------- --------------------- --------------------- ---------------------
Total assets
============================================================= ===================== ===================== =====================
684
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission EME Adelaide EME Monet Ltd.
Ausone Pty Ltd. Energy Ltd.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
685
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission EME International Consolidating
Vendesi Pty Ltd. Dragon Limited Adjustments
[11]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
686
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME International
Dragon Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
687
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission EME Adelaide EME Monet Ltd.
Ausone Pty Ltd. Energy Ltd.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
688
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission EME International Consolidating
Vendesi Pty Ltd. Dragon Limited Adjustments
[11]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
689
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
South Australian Holdings Ltd.
EME International Dragon Limited and Subsidiaries [Tier 10]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME International
Dragon Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
690
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 9. et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Maplekey UK Maplekey UK Edison First Power
Finance Limited Limited [10] Limited [11]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $62,039
Receivables - net 86,388
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1,474
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 149,901
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 1,607
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,607
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $151,508
============================================================= ==================== ==================== ====================
691
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 9. et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Maplekey Holdings Consolidating Maplekey Holdings
Limited Adjustments Limited
Consolidated
------------------------------------------------------------- -------------------- ---------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- ---------------------- --------------------
Cash and equivalents $62,039
Receivables - net 86,388
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1,474
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total current assets 149,901
------------------------------------------------------------- -------------------- ---------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- ---------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- ---------------------- --------------------
Regulatory assets - net
Other deferred charges 1,607
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total deferred charges 1,607
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total assets $151,508
============================================================= ==================== ====================== ====================
692
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 9. et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Maplekey UK Maplekey UK Edison First Power
Finance Limited Limited [10] Limited [11]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $268,938
Accrued taxes (1,466)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities $5 $5 42,311
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5 5 309,783
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 418,838 418,838 1,182,180
Additional paid-in capital
Accumulated other comprehensive income (loss) (3,903) (3,903) (10,952)
Retained earnings (414,940) (414,940) (1,329,503)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($5) ($5) (158,275)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $151,508
============================================================= ==================== ==================== ====================
693
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 9. et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Maplekey Holdings Consolidating Maplekey Holdings
Limited Adjustments Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1) $268,937
Accrued taxes (1,466)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities $5 (1) 42,325
------------------------------------------------------------- -------------------- -------------------- --------------------
(26,630)
Total current liabilities 5 (2) 309,796
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt $2,628
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 418,837 (2,019,854) 418,839
Additional paid-in capital
Accumulated other comprehensive income (loss) (3,903) 14,806 (7,855)
Retained earnings (414,939) 2,005,050 (569,272)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($5) $2 (158,288)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $151,508
============================================================= ==================== ==================== ====================
694
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 9. et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Maplekey UK Maplekey UK Edison First Power
Finance Limited Limited [10] Limited [11]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $515,849
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 515,849
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,328
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization ($17) ($17) 184,767
Write-down of nonutility assets 48,447
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (17) (17) 501,542
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 17 17 14,307
Interest and dividend income 5,498
Other nonoperating income
Interest expense - net of amounts capitalized (203,739)
Other nonoperating deductions (414,933) (414,933) (1,069,064)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (414,916) (414,916) (1,252,998)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (414,916) (414,916) (1,252,998)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (414,916) (414,916) (1,252,998)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (24) (24) (76,505)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($414,940) ($414,940) ($1,329,503)
=============================================================== ==================== ==================== ====================
695
MEC International B.V., Global Generation B.V.
Edison First Power Holdings II, Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 9. et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Maplekey Holdings Consolidating Maplekey Holdings
Limited Adjustments Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $515,849
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 515,849
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 268,328
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance ($17) ($1) 184,715
Depreciation, decommissioning and amortization 48,447
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (17) (1) 501,490
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 17 1 14,359
Interest and dividend income 5,498
Other nonoperating income
Interest expense - net of amounts capitalized (203,739)
Other nonoperating deductions (414,933) 1,945,476 (368,387)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (414,916) 1,945,477 (552,269)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (414,916) 1,945,477 (552,269)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (414,916) 1,945,477 (552,269)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (24) 59,574 (17,003)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($414,939) $2,005,050 ($569,272)
=============================================================== ==================== ==================== ====================
696
MEC International B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Iberica de Electro Monasterio de
Energias S.L. Metalurgica del Rueda, S.L. [9]
Ebro, S.L. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $9,163 $101
Receivables - net 4,553 3,375
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 163 142
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 13,879 3,618
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 40,913 7,192
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 7,660 1
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 48,573 7,193
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 3,558 35,967
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 3,558 35,967
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $66,010 $46,778
============================================================= ==================== ==================== ====================
697
MEC International B.V.
Hydro Energy B.V.and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Hydro Energy B.V Consolidating Hydro Energy B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- ---------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- ---------------------- --------------------
Cash and equivalents $9,264
Receivables - net 7,928
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 305
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total current assets 17,497
------------------------------------------------------------- -------------------- ---------------------- --------------------
Nonutility property - net $28,783 76,888
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $24,871 (27,951) 4,581
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total investment and other assets 24,871 832 81,469
------------------------------------------------------------- -------------------- ---------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- ---------------------- --------------------
Regulatory assets - net
Other deferred charges (38,100) 1,425
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total deferred charges (38,100) 1,425
------------------------------------------------------------- -------------------- ---------------------- --------------------
Total assets $24,871 ($37,268) $100,391
============================================================= ==================== ====================== ====================
698
MEC International B.V.
Hydro Energy B.V.and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Iberica de Electro Monasterio de
Energias S.L. Metalurgica del Rueda, S.L. [9]
Ebro, S.L. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $2,905 $4,805
Preferred stock to be redeemed within one year
Accounts payable 325 897
Accrued taxes 670 72
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 254 11,159
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,154 16,933
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 27,594 24,313
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 17,721 83
Additional paid-in capital 10,878 168
Accumulated other comprehensive income (loss) 658 471
Retained earnings 5,005 4,810
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 34,262 5,532
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $66,010 $46,778
============================================================= ==================== ==================== ====================
699
MEC International B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Hydro Energy B.V Consolidating Hydro Energy B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $535 ($288) $7,957
Preferred stock to be redeemed within one year
Accounts payable 1,779 (457) 2,544
Accrued taxes (18) 4 728
Regulatory liabilities - net
Trading and price risk management liabilities 4,484 4,484
Other current liabilities 90 11,503
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,296 3,833 27,216
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 26,060 17,325 95,292
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,850) (1,850)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (1,850) (1,850)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 483 483
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 25 (15,717) 2,112
Additional paid-in capital (11,046)
Accumulated other comprehensive income (loss) 6,234 (47,397) (40,034)
Retained earnings (9,744) 17,101 17,172
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (3,485) (57,059) (20,750)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $24,871 ($37,268) $100,391
============================================================= ==================== ==================== ====================
700
MEC International B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Iberica de Electro Monasterio de
Energias S.L. Metalurgica del Rueda, S.L. [9]
Ebro, S.L. [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $10,739 $7,101
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 10,739 7,101
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 2,503 1,380
Depreciation, decommissioning and amortization 1,430 2,317
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3,933 3,697
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 6,806 3,404
Interest and dividend income 769 95
Other nonoperating income 491 (220)
Interest expense - net of amounts capitalized (2,444) (3,169)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 5,622 110
Income taxes (benefit) 1,985 13
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 3,637 97
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 3,637 97
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 1,368 4,713
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $5,005 $4,810
=============================================================== ==================== ==================== ====================
701
MEC International B.V.
Hydro Energy B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Hydro Energy B.V Consolidating Hydro Energy B.V.
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $283 $18,123
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 283 18,123
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13 3,896
Depreciation, decommissioning and amortization (478) 3,269
Write-down of nonutility assets
Property and other taxes 105 105
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (360) 7,270
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 643 10,853
Interest and dividend income ($115) (2) 747
Other nonoperating income 161 (895) (463)
Interest expense - net of amounts capitalized (1,737) (7,350)
Other nonoperating deductions (10) (10)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 46 (2,001) 3,777
Income taxes (benefit) 16 (198) 1,816
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 30 (1,803) 1,961
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 30 (1,803) 1,961
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (331) 10,406 16,156
Dividends declared on common stock (9,443) 8,498 (945)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,744) $17,101 $17,172
=============================================================== ==================== ==================== ====================
702
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Desarrello Hydro Energy B.V. Iberica de
Espana S.L. Energias S.L. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $619 $9,264 $9,163
Receivables - net 43 7,928 4,553
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 305 163
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 662 17,497 13,879
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 76,888 40,913
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 4,582 7,660
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 81,469 48,573
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,131 1,425 3,558
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,131 1,425 3,558
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,793 $100,391 $66,010
============================================================= ==================== ==================== ====================
703
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Electro Monasterio de Iberica de
Metalurgica del Rueda, S.L. [10] Energias S.L.
Ebro, S.L. [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $101 $9,264
Receivables - net 3,375 7,928
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 142 305
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3,618 17,497
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 7,192 76,888
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1 4,581
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 7,193 81,469
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 35,967 1,425
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 35,967 1,425
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $46,778 $100,391
============================================================= ==================== ==================== ====================
704
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Electro Monasterio de Saltos del Porma,
Metalurgica del Rueda, S.L. [9] S.A.
Ebro, S.L. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $101
Receivables - net 3,375
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 142
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3,618
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 7,192
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 7,193
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 35,967
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 35,967
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $46,778
============================================================= ==================== ==================== ====================
705
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Iberian Consolidating Iberian
Hy-Power Amsterdam Adjustments Hy-Power Amsterdam
B.V. B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $240 ($18,628) $10,124
Receivables - net (19,231) 7,971
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets (753) 304
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 240 (38,612) 18,399
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,529 (109,406) 101,196
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 4,118 (20,942)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,647 (130,348) 101,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (76,917) 3,556
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (76,917) 3,556
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,887 ($245,877) $123,151
============================================================= ==================== ==================== ====================
706
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Desarrello Hydro Energy B.V. Iberica de
Espana S.L. Energias S.L. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $7,957 $2,905
Preferred stock to be redeemed within one year
Accounts payable $422 2,544 325
Accrued taxes 728 670
Regulatory liabilities - net
Trading and price risk management liabilities 4,484
Other current liabilities 5 11,503 254
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 427 27,216 4,154
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 95,292 27,594
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (214) (1,850)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (214) (1,850)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 483
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2,112 17,721
Additional paid-in capital 10,878
Accumulated other comprehensive income (loss) 3,063 (40,034) 658
Retained earnings (483) 17,172 5,005
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,580 (20,750) 34,262
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,793 $100,391 $66,010
============================================================= ==================== ==================== ====================
707
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Electro Monasterio de Iberica de
Metalurgica del Rueda, S.L. [10] Energias S.L.
Ebro, S.L. [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $4,805 $7,421
Preferred stock to be redeemed within one year
Accounts payable 897 765
Accrued taxes 72 746
Regulatory liabilities - net
Trading and price risk management liabilities 4,484
Other current liabilities 11,159 11,503
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16,933 24,919
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 24,313 51,145
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,850)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (1,850)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 483
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 83 25,474
Additional paid-in capital 168
Accumulated other comprehensive income (loss) 471 (17,254)
Retained earnings 4,810 17,474
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,532 25,694
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $46,778 $100,391
============================================================= ==================== ==================== ====================
708
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Electro Monasterio de Saltos del Porma,
Metalurgica del Rueda, S.L. [9] S.A.
Ebro, S.L. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $4,805
Preferred stock to be redeemed within one year
Accounts payable 897
Accrued taxes 72
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 11,159
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16,933
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 24,313
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 83
Additional paid-in capital 168
Accumulated other comprehensive income (loss) 471
Retained earnings 4,810
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,532
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $46,778
============================================================= ==================== ==================== ====================
709
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Iberian Consolidating Iberian
Hy-Power Amsterdam Adjustments Hy-Power Amsterdam
B.V. B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($19,936) $7,957
Preferred stock to be redeemed within one year
Accounts payable $4,419 (6,917) 3,352
Accrued taxes (409) (1,559) 320
Regulatory liabilities - net
Trading and price risk management liabilities (4,484) 4,484
Other current liabilities 18 (34,075) 11,526
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,028 (66,971) 27,638
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 7,136 (147,505) 82,288
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,849 (2,065)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,849 (2,065)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest (483) 483
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,186 (47,159) (500)
Additional paid-in capital 965 (2,468) 9,711
Accumulated other comprehensive income (loss) 19 44,245 (8,360)
Retained earnings (7,447) (27,385) 13,956
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (5,277) (32,767) 14,806
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,887 ($245,877) $123,151
============================================================= ==================== ==================== ====================
710
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Desarrello Hydro Energy B.V. Iberica de
Espana S.L. Energias S.L. [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $18,123 $10,739
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 18,123 10,739
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $55 3,896 2,503
Depreciation, decommissioning and amortization 3,269 1,430
Write-down of nonutility assets
Property and other taxes 105
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses $55 7,270 3,933
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (55) 10,853 6,806
Interest and dividend income 747 769
Other nonoperating income 52 (463) 491
Interest expense - net of amounts capitalized (7,350) (2,444)
Other nonoperating deductions (10)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (3) 3,777 5,622
Income taxes (benefit) (1) 1,816 1,985
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (2) 1,961 3,637
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (2) 1,961 3,637
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (481) 16,156 1,368
Dividends declared on common stock (945)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($483) $17,172 $5,005
=============================================================== ==================== ==================== ====================
711
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Electro Monasterio de Iberica de
Metalurgica del Rueda, S.L. [10] Energias S.L.
Ebro, S.L. [9]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $7,101 $18,123
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 7,101 18,123
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,380 3,896
Depreciation, decommissioning and amortization 2,317 3,269
Write-down of nonutility assets
Property and other taxes 105
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3,697 7,270
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 3,404 10,853
Interest and dividend income 95 862
Other nonoperating income (220) (624)
Interest expense - net of amounts capitalized (3,169) (7,350)
Other nonoperating deductions (10)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 110 3,731
Income taxes (benefit) 13 1,800
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 97 1,931
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 97 1,930
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 4,713 7,045
Dividends declared on common stock 8,498
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,810 $17,474
=============================================================== ==================== ==================== ====================
712
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Electro Monasterio de Saltos del Porma,
Metalurgica del Rueda, S.L. [9] S.A.
Ebro, S.L. [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $7,101
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 7,101
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,380
Depreciation, decommissioning and amortization 2,317
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3,697
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 3,404
Interest and dividend income 95
Other nonoperating income (220)
Interest expense - net of amounts capitalized (3,169)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 110
Income taxes (benefit) 13
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 97
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 97
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 4,713
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,810
=============================================================== ==================== ==================== ====================
713
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Iberian Consolidating Iberian
Hy-Power Amsterdam Adjustments Hy-Power Amsterdam
B.V. B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($43,064) $18,123
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (43,064) 18,123
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (9,054) 4,056
Depreciation, decommissioning and amortization $58 (9,333) 3,327
Write-down of nonutility assets
Property and other taxes (210)
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 58 (18,597) 7,383
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (58) (24,467) 10,740
Interest and dividend income 7 (1,822) 753
Other nonoperating income 17 573 (394)
Interest expense - net of amounts capitalized (144) 16,133 (7,494)
Other nonoperating deductions 10 (10)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (179) (9,573) 3,595
Income taxes (benefit) 8 (3,811) 1,823
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (187) (5,762) 1,772
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (187) (5,762) 1,772
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 1,238 (13,126) 21,626
Dividends declared on common stock (8,498) (8,497) (9,442)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($7,447) ($27,385) $13,956
=============================================================== ==================== ==================== ====================
714
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [8] Venture [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $48 $5,420 ($808)
Receivables - net 5,172 222
Fuel inventory
Materials and supplies, at average cost 3,937 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (84,331)
Prepayments and other current assets 625 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 48 (69,177) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 555,055 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 13,161
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 13,161 555,055 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
715
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Latrobe Power Pty Consolidating Latrobe Power Pty
Ltd Adjustments Ltd Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $16,214 $20,874
Receivables - net 4,951 10,345
Fuel inventory
Materials and supplies, at average cost (3,937) 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024) (165,355)
Prepayments and other current assets 449 1,226
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (63,347) (125,190)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (545,243) 968,477
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $6,136 (19,297)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,136 (564,540) 968,477
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,434 10,432
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,434 10,432
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,136 ($620,453) $853,719
============================================================= ==================== ==================== ====================
716
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [8] Venture [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613
Preferred stock to be redeemed within one year
Accounts payable $1,466 (16,233) $1,495
Accrued taxes 218
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,322 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,466 (9,080) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 318,622
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (7) (25,290)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 251,991
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 34 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (7) 226,735 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (77,105) (5,958) 768,427
Accumulated other comprehensive income (loss) 74,771 (51,432) (76,247)
Retained earnings 14,084 9,989 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 11,750 (47,401) 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
717
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Latrobe Power Pty Consolidating Latrobe Power Pty
Ltd Adjustments Ltd Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215 $6,828
Preferred stock to be redeemed within one year
Accounts payable $4,171 (75,840) (84,941)
Accrued taxes 209 427
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 10,030 19,634
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,171 (62,386) (58,052)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778 602,400
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (203) 16,348 (9,152)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283 369,274
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (34) 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (203) 133,597 360,189
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 4,031 4,031
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (27,610) (547,461) 110,293
Accumulated other comprehensive income (loss) 39,445 (273,002) (286,465)
Retained earnings (9,667) (159,010) 121,323
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,168 (979,473) (54,849)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,136 ($620,453) $853,719
============================================================= ==================== ==================== ====================
718
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [8] Venture [9]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $9,194 $69,543 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 9,194 69,543 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,934 17,517
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,689 22,490
Depreciation, decommissioning and amortization 12,457
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 35,080 40,007
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 9,194 34,463 (39,936)
Interest and dividend income 2 1,290
Other nonoperating income (8) (5)
Interest expense - net of amounts capitalized (27,049)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 9,196 8,696 (39,941)
Income taxes (benefit) (238)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 9,196 8,934 (39,941)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 9,196 8,934 (39,941)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 4,888 1,055 305,868
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $14,084 $9,989 $265,927
=============================================================== ==================== ==================== ====================
719
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Latrobe Power Pty Consolidating Latrobe Power Pty
Ltd Adjustments Ltd Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $4,810 $43,608 $127,226
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 4,810 43,608 127,226
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (8,699) 17,752
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization (9,388) 26,791
Write-down of nonutility assets 10,078 22,535
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (8,009) 67,078
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 4,810 51,617 60,148
Interest and dividend income 6,189 7,481
Other nonoperating income 89 (98) (22)
Interest expense - net of amounts capitalized (24,499) (51,548)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,899 33,209 16,059
Income taxes (benefit) 1,274 3,165 4,201
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 3,625 30,044 11,858
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 3,625 30,044 11,858
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (13,292) 189,054 109,465
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,667) ($159,010) $121,323
=============================================================== ==================== ==================== ====================
720
MEC International B.V.
Latrobe Valley B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Valley Power Pty Latrobe Valley B.V. Consolidating
Ltd. Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
721
MEC International B.V.
Latrobe Valley B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Latrobe Valley
B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
722
MEC International B.V.
Latrobe Valley B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Valley Power Pty Latrobe Valley B.V. Consolidating
Ltd. Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
723
MEC International B.V.
Latrobe Valley B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Latrobe Valley
B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
724
MEC International B.V.
Latrobe Valley B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Valley Power Pty Latrobe Valley B.V. Consolidating
Ltd. Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
725
MEC International B.V.
Latrobe Valley B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Latrobe Valley
B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year
=============================================================== ==================== ==================== ====================
726
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Latrobe Power Pty Mission Energy
Energy Holdings Ltd Consolidated Ventures Australia
Pty Ltd Pty Ltd
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $746 $20,874
Receivables - net 673 10,345
Fuel inventory
Materials and supplies, at average cost 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (165,355)
Prepayments and other current assets 53 1,226
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,472 (125,190)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,859 968,477
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,300) $117
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,559 968,477 117
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 46 10,432
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 46 10,432
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,077 $853,719 $117
============================================================= ==================== ==================== ====================
727
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Traralgon Power Loy Yang Holdings Consolidating
Pty Ltd Pty Ltd Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($20,874)
Receivables - net (10,345)
Fuel inventory
Materials and supplies, at average cost (7,720)
Accumulated deferred income taxes - net
Trading and price risk management assets 165,355
Prepayments and other current assets (1,226)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 125,190
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (968,477)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,476 ($1,050) (4,948)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,476 ($1,050) (973,425)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (10,432)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (10,432)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,476 ($1,050) ($858,667)
============================================================= ==================== ==================== ====================
728
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loy Yang Holdings
Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $746
Receivables - net 673
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 53
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,472
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,859
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,705)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,154
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 46
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 46
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,672
============================================================= ==================== ==================== ====================
729
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Latrobe Power Pty Mission Energy
Energy Holdings Ltd Consolidated Ventures Australia
Pty Ltd Pty Ltd
Consolidated Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $41 $6,828
Preferred stock to be redeemed within one year
Accounts payable (12,328) (84,941) $80
Accrued taxes 505 427 (59)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,418 19,634
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,364) (58,052) 21
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 160 602,400 39
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 106 (9,152) (13)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 369,274
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 59 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 165 360,189 (13)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 4,031
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 110,293 (528)
Accumulated other comprehensive income (loss) (5,639) (286,465) (7)
Retained earnings 13,229 121,323 605
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 7,590 (54,849) 70
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,077 $853,719 $117
============================================================= ==================== ==================== ====================
730
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Traralgon Power Loy Yang Holdings Consolidating
Pty Ltd Pty Ltd Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($6,828)
Preferred stock to be redeemed within one year
Accounts payable $2,372 82,569
Accrued taxes (427)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (19,634)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,372 55,680
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 133,068 (735,448)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (434) 9,585
Accumulated deferred investment tax credits
Customer advances and other deferred credits (369,274)
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (67)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (434) (359,756)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest (4,031)
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (24,644) ($1,050) (84,071)
Accumulated other comprehensive income (loss) (98,248) 385,306
Retained earnings (6,638) (106,821)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (129,530) (1,050) 194,414
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,476 ($1,050) ($858,567)
============================================================= ==================== ==================== ====================
731
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loy Yang Holdings
Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $41
Preferred stock to be redeemed within one year
Accounts payable (12,248)
Accrued taxes 446
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,418
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,343)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 219
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 92
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 59
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 151
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) (5,053)
Retained earnings 21,698
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 16,645
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,672
============================================================= ==================== ==================== ====================
732
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Latrobe Power Pty Mission Energy
Energy Holdings Ltd Consolidated Ventures Australia
Pty Ltd Pty Ltd
Consolidated Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $92 $92
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 92 92
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel $17,752
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 15,307 26,791
Depreciation, decommissioning and amortization 592 22,535
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (15,899) 67,078
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (15,807) (67,078) 92
Interest and dividend income 359 7,481 2
Other nonoperating income 2,569 (22)
Interest expense - net of amounts capitalized (14) (51,548)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (12,893) (111,167) 94
Income taxes (benefit) 4,201
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (12,893) (115,368) 94
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (12,893) (115,368) 94
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 26,122 236,691 511
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $13,229 $121,323 $605
=============================================================== ==================== ==================== ====================
733
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Traralgon Power Loy Yang Holdings Consolidating
Pty Ltd Pty Ltd Adjustments
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $4,293 $4,947
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 4,293 4,947
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (17,752)
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (26,808)
Depreciation, decommissioning and amortization (22,515)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (67,075)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 4,293 72,022
Interest and dividend income 46 (7,527)
Other nonoperating income 60 47
Interest expense - net of amounts capitalized 51,548
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,399 116,089
Income taxes (benefit) 1,139 (6,295)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 3,260 122,384
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 3,260 122,384)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (9,896) (229,207)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6,638) ($106,821)
=============================================================== ==================== ==================== ====================
734
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Loy Yang Holdings
Pty Ltd
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $9,424
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 9,424
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 15,290
Depreciation, decommissioning and amortization 612
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 15,902
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (6,478)
Interest and dividend income 361
Other nonoperating income 2,653
Interest expense - net of amounts capitalized (14)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (3,478)
Income taxes (benefit) (955)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (2,523)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (2,523)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 24,221
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $21,698
=============================================================== ==================== ==================== ====================
735
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Latrobe Power Loy Yang B Joint
Energy Australia Partnership [9] Venture [10]
Ltd.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $19 $5,420 ($808)
Receivables - net 10 5,172 222
Fuel inventory
Materials and supplies, at average cost 3,937 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (84,331)
Prepayments and other current assets 625 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 29 (69,177) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 555,055 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,582)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (1,582) 555,055 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($1,553) $488,876 $965,951
============================================================= ==================== ==================== ====================
736
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Australia Operation and Operation and
Pilbara Power Pty Maintenance Maintenance Loy
Ltd. Kwinana Pty Ltd Yang Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets
============================================================= ==================== ==================== ====================
737
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission Energy Kwinana Power
Holdings (Kwinana) Pty Ltd Partnership [9]
Superannuation
Fund Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net $1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $282 19,888
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 282 19,888
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $282 $19,889
============================================================= ==================== ==================== ====================
738
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Perth Power Edison Mission Consolidating
Partnership [10] Energy Holdings Adjustments
Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $5,168 $727 ($9,780)
Receivables - net 1,458 662 (6,852)
Fuel inventory
Materials and supplies, at average cost 1,530 (13,187)
Accumulated deferred income taxes - net
Trading and price risk management assets (4,091) 88,422
Prepayments and other current assets 178 54 (956)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,243 1,443 57,647)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 71,164 1,396 (1,579,421)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (19,888)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 71,164 1,396 (1,599,309)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 1,716 46 (4,714)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,716 46 (4,714)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $77,123 $2,885 ($1,546,376)
============================================================= ==================== ==================== ====================
739
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission
Energy Holdings
Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $746
Receivables - net 673
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 53
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,472
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,859
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,300)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,559
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 46
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 46
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,077
============================================================= ==================== ==================== ====================
740
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Latrobe Power Loy Yang B Joint
Energy Australia Partnership [9] Venture [10]
Ltd.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613
Preferred stock to be redeemed within one year
Accounts payable ($15,027) (16,233) $1,495
Accrued taxes 218
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,322 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (15,027) (9,080) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 318,622
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 229 (25,290)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 251,991
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 34 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 229 226,735 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (5,958) 768,427
Accumulated other comprehensive income (loss) (3,204) (51,432) (76,247)
Retained earnings 16,449 9,989 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 13,245 (47,401) 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($1,553) $488,876 $965,951
============================================================= ==================== ==================== ====================
741
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Australia Operation and Operation and
Pilbara Power Pty Maintenance Maintenance Loy
Ltd. Kwinana Pty Ltd Yang Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,384) ($3,109)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,384) (3,109)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) (294) (1,556)
Retained earnings 1,678 4,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $1,384 $3,109
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity
============================================================= ==================== ==================== ====================
742
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Mission Energy Kwinana Power
Holdings (Kwinana) Pty Ltd Partnership [9]
Superannuation
Fund Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $82 ($23,469)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 82 (23,469)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 6
Accumulated deferred investment tax credits
Customer advances and other deferred credits 5,747
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 6 5,747
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) (47) (6,733)
Retained earnings 241 44,344
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 194 37,611
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $282 $19,889
============================================================= ==================== ==================== ====================
743
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Perth Power Edison Mission Consolidating
Partnership [10] Energy Holdings Adjustments
Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $1,328 $41 ($4,941)
Preferred stock to be redeemed within one year
Accounts payable 234 7,110 37,973
Accrued taxes (537) 505 319
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 2,938 1,418 (12,542)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 3,963 9,074 20,809
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 42,777 161 (361,400)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,227) (1,768) 28,156
Accumulated deferred investment tax credits
Customer advances and other deferred credits 3,323 (261,061)
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 115 59 (216)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 2,211 (1,709) (233,121)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 34,873 (797,342)
Accumulated other comprehensive income (loss) (9,132) 3,890 139,116
Retained earnings 2,431 (8,531) (314,438)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 28,172 (4,641) (972,664)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $77,123 $2,885 ($1,546,376)
============================================================= ==================== ==================== ====================
744
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission
Energy Holdings
Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $41
Preferred stock to be redeemed within one year
Accounts payable (12,328)
Accrued taxes 505
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,418
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,364)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 160
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 106
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 59
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 165
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) (5,639)
Retained earnings 22,755
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 17,116
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,077
============================================================= ==================== ==================== ====================
745
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Latrobe Power Loy Yang B Joint
Energy Australia Partnership [9] Venture [10]
Ltd.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $93 $69,543 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 93 69,543 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,934 17,517
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 733 13,689 22,490
Depreciation, decommissioning and amortization 12,457
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 733 35,080 40,007
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (640) 34,463 (39,936)
Interest and dividend income 74 1,290
Other nonoperating income 733 (8) (5)
Interest expense - net of amounts capitalized (27,049)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 167 8,696 (39,941)
Income taxes (benefit) 44 (238)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 123 8,934 (39,941)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 123 8,934 (39,941)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 16,326 1,055 305,868
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $16,449 $9,989 $265,927
=============================================================== ==================== ==================== ====================
746
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Edison Mission Edison Mission
Energy Australia Operation and Operation and
Pilbara Power Pty Maintenance Maintenance Loy
Ltd. Kwinana Pty Ltd Yang Pty Ltd
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,447 $8,035
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,447 8,035
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,134 8,017
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,134 8,017
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 313 18
Interest and dividend income
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 313 18
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 313 18
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 313 18
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 1,365 4,647
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,678 $4,665
=============================================================== ==================== ==================== ====================
747
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Mission Energy Kwinana Power
Holdings (Kwinana) Pty Ltd Partnership [9]
Superannuation
Fund Pty Ltd
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $3,299
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 3,299
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (1,000)
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (1,000)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 4,299
Interest and dividend income 1,659
Other nonoperating income
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 5,958
Income taxes (benefit) $18
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (18) 5,958
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (18) 5,958
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 259 41,505
Dividends declared on common stock (3,119)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $241 $44,344
=============================================================== ==================== ==================== ====================
748
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Preth Power Edison Mission Consolidating
Partnership [10] Energy Holdings Adjustments
Pty Ltd
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $32,438 ($114,834)
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 32,438 (114,834)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 16,274 (42,725)
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 3,635 $5,423 (38,814)
Depreciation, decommissioning and amortization 3,121 471 (15,457)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 23,030 5,894 (96,996)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 9,408 (5,894) (17,838)
Interest and dividend income 202 284 (846)
Other nonoperating income (62) 1,930 (2,602)
Interest expense - net of amounts capitalized (4,841) (14) 31,904
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,707 (3,694) 10,618
Income taxes (benefit) (1,004) 1,180
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 4,707 (2,690) 9,438
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 4,707 (2,690) 9,438
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 2,180 (5,841) (331,451)
Dividends declared on common stock (4,456) 7,575
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,431 ($8,531) ($314,438)
=============================================================== ==================== ==================== ====================
749
MEC International B.V., Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission
Energy Holdings
Pty Ltd
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $92
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 92
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization 15,307
Write-down of nonutility assets 592
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 15,899
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (15,807)
Interest and dividend income 2,663
Other nonoperating income (14)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (13,158)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (13,158)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (13,158)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 35,913
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $22,755
=============================================================== ==================== ==================== ====================
750
MEC International B.V., Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $48 $5,420 ($808)
Receivables - net 5,172 222
Fuel inventory
Materials and supplies, at average cost 3,937 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (84,331)
Prepayments and other current assets 625 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 48 (69,177) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 555,055 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 13,161
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 13,161 555,055 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
751
MEC International B.V., Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Latrobe Power Pty Consolidating Latrobe Power Pty
Ltd. Adjustments Ltd Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $16,214 $20,874
Receivables - net 4,951 10,345
Fuel inventory
Materials and supplies, at average cost (3,937) 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024) (165,355)
Prepayments and other current assets 449 1,226
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (63,347) (125,190)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (545,243) 968,477
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $6,136 (19,297)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,136 (564,540) 968,477
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,434 10,432
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,434 10,432
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,136 ($620,453) $853,719
============================================================= ==================== ==================== ====================
752
MEC International B.V., Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613
Preferred stock to be redeemed within one year
Accounts payable $1,466 (16,233) $1,495
Accrued taxes 218
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,322 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,466 (9,080) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 318,622
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (7) (25,290)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 251,991
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 34 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (7) 226,735 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (77,105) (5,958) 768,427
Accumulated other comprehensive income (loss) 74,771 (51,432) (76,247)
Retained earnings 14,084 9,989 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 11,750 (47,401) 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
753
MEC International B.V., Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Latrobe Power Pty Consolidating Latrobe Power Pty
Ltd. Adjustments Ltd Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215 $6,828
Preferred stock to be redeemed within one year
Accounts payable $4,171 (75,840) (84,941)
Accrued taxes 209 427
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 10,030 19,634
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,171 (62,386) (58,052)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778 602,400
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (203) 16,348 (9,152)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283 369,274
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (34) 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (203) 133,597 360,189
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 4,031 4,031
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (27,610) (547,461) 110,293
Accumulated other comprehensive income (loss) 39,445 (273,002) (286,465)
Retained earnings (9,667) (159,010) 121,323
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,168 (979,473) (54,849)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,136 ($620,453) $853,719
============================================================= ==================== ==================== ====================
754
MEC International B.V., Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $9,194 $69,543 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 9,194 69,543 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,934 17,517
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,689 22,490
Depreciation, decommissioning and amortization 12,457
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 35,080 40,007
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 9,194 34,463 (39,936)
Interest and dividend income 2 1,290
Other nonoperating income (8) (5)
Interest expense - net of amounts capitalized (27,049)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 9,196 8,696 (39,941)
Income taxes (benefit) (238)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 9,196 8,934 (39,941)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 9,196 8,934 (39,941)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 4,888 1,055 305,868
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $14,084 $9,989 $265,927
=============================================================== ==================== ==================== ====================
755
MEC International B.V., Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Latrobe Power Pty Consolidating Latrobe Power Pty
Ltd. Adjustments Ltd Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $4,810 ($83,618)
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 4,810 (83,618)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (8,699) $17,752
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (9,388) 26,791
Depreciation, decommissioning and amortization 10,078 22,535
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (8,009) 67,078
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 4,810 (75,609) (67,078)
Interest and dividend income 6,189 7,481
Other nonoperating income (9) (22)
Interest expense - net of amounts capitalized 89 (24,588) (51,548)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,899 (94,017) (111,167)
Income taxes (benefit) 1,274 3,165 4,201
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 3,625 (97,182) (115,368)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 3,625 (97,182) (115,368)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (13,292) (61,828) 236,691
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,667) ($159,010) $121,323
=============================================================== ==================== ==================== ====================
756
MEC International B.V., Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $48 $5,420 ($808)
Receivables - net 5,172 222
Fuel inventory
Materials and supplies, at average cost 3,937 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (84,331)
Prepayments and other current assets 625 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 48 (69,177) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 555,055 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 13,161
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 13,161 555,055 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
757
MEC International B.V., Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Consolidating Mission Energy
Ventures Australia Adjustments Ventures Australia
Pty Ltd Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($4,660)
Receivables - net (5,394)
Fuel inventory
Materials and supplies, at average cost (11,657)
Accumulated deferred income taxes - net
Trading and price risk management assets 84,331
Prepayments and other current assets (777)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 61,843
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (1,513,720)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $117 (13,161) $117
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 117 (1,526,881) 117
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (2,998)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (2,998)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $117 ($1,468,036) $117
============================================================= ==================== ==================== ====================
758
MEC International B.V., Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613
Preferred stock to be redeemed within one year
Accounts payable $1,466 (16,233) $1,495
Accrued taxes 218
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,322 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,466 (9,080) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 318,622
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (7) (25,290)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 251,991
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 34 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (7) 226,735 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (77,105) (5,958) 768,427
Accumulated other comprehensive income (loss) 74,771 (51,432) (76,247)
Retained earnings 14,084 9,989 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 11,750 (47,401) 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
759
MEC International B.V., Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Consolidating Mission Energy
Ventures Australia Adjustments Ventures Australia
Pty Ltd Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($3,613)
Preferred stock to be redeemed within one year
Accounts payable $80 13,272 $80
Accrued taxes (59) (218) (59)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (9,604)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 21 (163) 21
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 39 (318,622) 39
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (13) 25,297 (13)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (251,991)
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (101)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (13) (226,795) (13)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (528) (685,364) (528)
Accumulated other comprehensive income (loss) (7) 52,908 (7)
Retained earnings 605 (290,000) 605
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 70 (922,456) 70
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $117 ($1,468,036) $117
============================================================= ==================== ==================== ====================
760
MEC International B.V., Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $9,194 $69,543 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 9,194 69,543 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,934 17,517
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,689 22,490
Depreciation, decommissioning and amortization 12,457
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 35,080 40,007
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 9,194 34,463 (39,936)
Interest and dividend income 2 1,290
Other nonoperating income (8)
Interest expense - net of amounts capitalized (27,049) (5)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 9,196 8,696 (39,941)
Income taxes (benefit) (238)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 9,196 8,934 (39,941)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 9,196 8,934 (39,941)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 4,888 1,055 305,868
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $14,084 $9,989 $265,927
=============================================================== ==================== ==================== ====================
761
MEC International B.V., Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Consolidating Mission Energy
Ventures Australia Adjustments Ventures Australia
Pty Ltd Pty Ltd
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $92 ($78,808) $92
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 92 78,808 92
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (26,451)
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (36,179)
Depreciation, decommissioning and amortization (12,457)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (75,087)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 92 (3,721) 92
Interest and dividend income 2 (1,292) 2
Other nonoperating income 8
Interest expense - net of amounts capitalized 27,054
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 94 (22,049) 94
Income taxes (benefit) 238
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 94 21,811 94
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 94 21,811 94
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 511 (311,811) 511
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $605 ($290,000) $605
=============================================================== ==================== ==================== ====================
762
MEC International B.V., Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $48 $5,420 ($808)
Receivables - net 5,172 222
Fuel inventory
Materials and supplies, at average cost 3,937 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (84,331)
Prepayments and other current assets 625 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 48 (69,177) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 555,055 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 13,161
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 13,161 555,055 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
763
MEC International B.V., Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Traralgon Power Consolidating Traralgon Power
Pty Ltd Adjustments Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($4,660)
Receivables - net (5,394)
Fuel inventory
Materials and supplies, at average cost (11,657)
Accumulated deferred income taxes - net
Trading and price risk management assets 84,331
Prepayments and other current assets (777)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 61,843
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (1,513,720)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,476 (13,161) $5,476
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,476 (1,526,881) 5,476
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (2,998)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (2,998)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,476 ($1,468,036) $5,476
============================================================= ==================== ==================== ====================
764
MEC International B.V., Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613
Preferred stock to be redeemed within one year
Accounts payable $1,466 (16,232) $1,495
Accrued taxes 218
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,322 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,466 (9,080) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 318,622
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (7) (25,290)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 251,991
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 34 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (7) 226,735 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (77,105) (5,958) 768,427
Accumulated other comprehensive income (loss) 74,771 (51,432) (76,247)
Retained earnings 14,084 9,989 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 11,750 (47,401) 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
765
MEC International B.V., Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Traralgon Power Consolidating Traralgon Power
Pty Ltd Adjustments Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($3,613)
Preferred stock to be redeemed within one year
Accounts payable $2,372 13,272 $2,372
Accrued taxes (218)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (9,604)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,372 (163) 2,372
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 133,068 (318,622) 133,068
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (433) 25,297 (433)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (251,991)
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (101)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (433) (226,795) (433)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (24,644) (685,364) (24,644)
Accumulated other comprehensive income (loss) (98,248) 52,908 (98,248)
Retained earnings (6,638) (290,000) (6,638)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (129,530) (922,456) (129,530)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,477 ($1,468,036) $5,477
============================================================= ==================== ==================== ====================
766
MEC International B.V., Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [9] Venture [10]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $9,194 $69,543 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 9,194 69,543 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,934 17,517
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,689 22,490
Depreciation, decommissioning and amortization 12,457
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 35,080 40,007
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 9,194 34,463 (39,936)
Interest and dividend income 2 1,290
Other nonoperating income (8) (5)
Interest expense - net of amounts capitalized (27,049)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 9,196 8,696 (39,941)
Income taxes (benefit) (238)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 9,196 8,934 (39,941)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 9,196 8,934 (39,941)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 4,888 1,055 305,868
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $14,084 $9,989 $265,927
=============================================================== ==================== ==================== ====================
767
MEC International B.V., Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 8, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Traralgon Power Consolidating Traralgon Power
Pty Ltd Adjustments Pty Ltd
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $4,293 ($78,808) $4,293
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 4,293 (78,808) 4,293
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (26,451)
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (36,179)
Depreciation, decommissioning and amortization (12,457)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (75,087)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 4,293 (3,721) 4,293
Interest and dividend income 46 (1,292) 46
Other nonoperating income 60 13 60
Interest expense - net of amounts capitalized 27,049
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,399 22,049 4,399
Income taxes (benefit) 1,139 238 1,139
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 3,260 21,811 3,260
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 3,260 21,811 3,260
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (9,898) (311,811) (9,898)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6,638) ($290,000) ($6,638)
=============================================================== ==================== ==================== ====================
768
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $49,272 $643 $10
Receivables - net 54,042 118 1,191
Fuel inventory 6,828
Materials and supplies, at average cost 660
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 5,293 77 80
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 116,095 838 1,281
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 27,896 64 25
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 27,896 64 25
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 145,464 6
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 145,464 6
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $289,455 $902 $1,312
============================================================= ==================== ==================== ====================
769
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $20 $49,945
Receivables - net 1 ($4,648) 50,704
Fuel inventory (1,497) 5,331
Materials and supplies, at average cost 1 661
Accumulated deferred income taxes - net
Trading and price risk management assets 88 88
Prepayments and other current assets (1,950) 3,500
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 21 (8,006) 110,229
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 8,054 99,898 135,937
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 36,426 36,426
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 44,480 99,898 172,363
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 370 (129,658) 16,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 370 (129,658) 16,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $44,871 ($37,766) $298,774
============================================================= ==================== ==================== ====================
770
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $12
Long-term debt classified as due within one year (4,909)
Preferred stock to be redeemed within one year
Accounts payable 41,916 $2 $149
Accrued taxes 2,737 1 33
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,608 594 1,305
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 43,364 597 1,487
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 112,148
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 19 2 52
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 19 2 52
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 40,446 59 60
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 93,478 244 (287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 133,924 303 (227)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $289,455 $902 $1,312
============================================================= ==================== ==================== ====================
771
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $12
Long-term debt classified as due within one year $16,190 11,281
Preferred stock to be redeemed within one year
Accounts payable $9,066 (3,962) 47,171
Accrued taxes 256 1,437 4,464
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,824 7,331
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 9,322 15,489 70,259
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (16,259) 95,889
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9,041) (9,041)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 668 41,730 42,471
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 668 32,689 33,430
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 30 2,998 43,593
Additional paid-in capital 37,088 37,088
Accumulated other comprehensive income (loss) 71 71
Retained earnings (2,237) (72,754) 18,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 34,881 (69,685) 99,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $44,871 ($37,766) $298,774
============================================================= ==================== ==================== ====================
772
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $135,905 $434
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 135,905 434
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 76,819 434
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 10,604 54 $1,155
Depreciation, decommissioning and amortization 3,159 9 1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 90,582 497 1,156
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 45,323 (63) (1,156)
Interest and dividend income 3,049 48
Other nonoperating income 3,986 319 1,405
Interest expense - net of amounts capitalized (12,591)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 39,767 304 249
Income taxes (benefit) 2,242 48
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 37,525 304 201
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 37,525 304 201
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 55,953 (60) (488)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $93,478 $244 ($287)
=============================================================== ==================== ==================== ====================
773
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($18,234) $118,105
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (18,234) 118,105
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (372) 76,881
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $933 1,788 14,534
Depreciation, decommissioning and amortization 19 3,369 6,557
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 952 4,785 97,972
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (952) (23,019) 20,133
Interest and dividend income (404) (2,977) (284)
Other nonoperating income 30 (2,091) 3,649
Interest expense - net of amounts capitalized (750) (13,341)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (1,326) (28,837) 10,157
Income taxes (benefit) (135) 924 3,079
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (1,191) (29,761) 7,078
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,191) (29,761) 7,078
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,046) (42,993) 11,366
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($2,237) ($72,754) $18,444
=============================================================== ==================== ==================== ====================
774
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission MEC Esenyurt B.V. MEC IES B.V.
Energy Consolidated
International B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $7 $49,945 $71
Receivables - net 50,704
Fuel inventory 5,332
Materials and supplies, at average cost 661
Accumulated deferred income taxes - net
Trading and price risk management assets 88
Prepayments and other current assets 3,499
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 7 110,229 71
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 135,937
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 36,426 2,031
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 172,363 2,031
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 16,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 16,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7 $298,774 $2,102
============================================================= ==================== ==================== ====================
775
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [8] Energy Power [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $8
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 8
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $8
============================================================= ==================== ==================== ====================
776
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Indo Coal B.V. MEC Indonesia B.V. MEC Laguna Power
B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $340 ($1)
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 340 (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 17,932 100,150
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 17,932 100,150
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 893 $43
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 893 43
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $18,272 $101,042 $43
============================================================= ==================== ==================== ====================
777
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Gulf Power MEC Perth B.V. MEC Priolo B.V.
Generation Co. Consolidated
Ltd. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $5,168 $8
Receivables - net 1,458
Fuel inventory
Materials and supplies, at average cost 1,530
Accumulated deferred income taxes - net
Trading and price risk management assets (4,091)
Prepayments and other current assets 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,244 8
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 55,513
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 21,624
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 55,513 21,624
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 1,716 295
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,716 295
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $61,473 $21,927
============================================================= ==================== ==================== ====================
778
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC San Pascual MEC Sidi Krir B.V. MEC Sumatra B.V.
B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $7 $5
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 7 5
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges $45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $45 $7 $5
============================================================= ==================== ==================== ====================
779
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Wales B.V. Mission Energy P.T. Edison
Consolidated Italia s.r.l. Mission Operation
and Maintenance
Indonesia
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $155 $160 $2,130
Receivables - net 176 764
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 20 57
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 155 356 2,951
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 179
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (155,784)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (155,784) 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 1,801 31
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,801 31
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($153,828) $566 $2,951
============================================================= ==================== ==================== ====================
780
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC International Consolidating MEC International
Holdings B.V. Adjustments Holdings B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $11 ($58,003) $11
Receivables - net (53,102)
Fuel inventory (5,332)
Materials and supplies, at average cost (2,191)
Accumulated deferred income taxes - net
Trading and price risk management assets 4,003
Prepayments and other current assets (3,755)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 11 (118,380) 11
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (191,629)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 5,478 (22,379) 5,478
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,478 (214,008) 5,478
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (21,006)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (21,006)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,489 ($353,394) $5,489
============================================================= ==================== ==================== ====================
781
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission MEC Esenyurt B.V. MEC IES B.V.
Energy Consolidated
International B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $12
Long-term debt classified as due within one year 11,281
Preferred stock to be redeemed within one year
Accounts payable ($73) 47,171 $427
Accrued taxes 295 4,464 (103)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 7,331
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 222 70,259 324
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 95,889
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9,041)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 42,471
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 33,430
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 43,593 25
Additional paid-in capital 37,088 93
Accumulated other comprehensive income (loss) 71
Retained earnings (215) 18,444 1,660
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (215) 99,196 1,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7 $298,774 $2,102
============================================================= ==================== ==================== ====================
782
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [8] Energy Power [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $32
Accrued taxes (15)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 17
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 22
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (31)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (9)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $8
============================================================= ==================== ==================== ====================
783
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Indo Coal B.V. MEC Indonesia B.V. MEC Laguna Power
B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($6) $5 $84
Accrued taxes 274 (62) (13)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 268 (57) 71
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 22 21 22
Additional paid-in capital 11,476 126,849 6,003
Accumulated other comprehensive income (loss) (25,598)
Retained earnings 6,506 (173) (6,053)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 18,004 101,099 (28)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $18,272 $101,042 $43
============================================================= ==================== ==================== ====================
784
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Gulf Power MEC Perth B.V. MEC Priolo B.V.
Generation Co. Consolidated
Ltd. [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $1,328
Preferred stock to be redeemed within one year
Accounts payable (14,875) $128
Accrued taxes (537) 116
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 2,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (11,146) 244
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 42,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (3,793)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 9,070
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 115
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 5,392
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 4,310
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23 21
Additional paid-in capital 31,323
Accumulated other comprehensive income (loss) (6,186) 187
Retained earnings 26,302 (9,848)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 20,139 21,683
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $61,473 $21,927
============================================================= ==================== ==================== ====================
785
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC San Pascual MEC Sidi Krir B.V. MEC Sumatra B.V.
B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $93 $24 $24
Accrued taxes (16) (13) (13)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 77 11 11
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23 26 25
Additional paid-in capital 4,745
Accumulated other comprehensive income (loss)
Retained earnings (4,800) (30) (31)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (32) (4) (6)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $45 $7 $5
============================================================= ==================== ==================== ====================
786
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Wales B.V. Mission Energy P.T. Edison
Consolidated Italia s.r.l. Mission Operation
and Maintenance
Indonesia
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($306,559) ($112) $559
Accrued taxes (885) (149) 174
Regulatory liabilities - net (29,154)
Trading and price risk management liabilities
Other current liabilities 26 22
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (336,598) (235) 755
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 342
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 342
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 135,247 12 1,500
Additional paid-in capital
Accumulated other comprehensive income (loss) 126 (12)
Retained earnings 47,397 459 696
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 182,770 459 2,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($153,828) $566 $2,951
============================================================= ==================== ==================== ====================
787
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC International Consolidating MEC International
Holdings B.V. Adjustments Holdings B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt ($12)
Long-term debt classified as due within one year (12,609)
Preferred stock to be redeemed within one year
Accounts payable ($43) 273,078 ($43)
Accrued taxes (23) (3,517) (23)
Regulatory liabilities - net 29,154
Trading and price risk management liabilities
Other current liabilities (10,317)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (67) 275,777 (67)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (138,667)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 12,834
Accumulated deferred investment tax credits
Customer advances and other deferred credits (9,070)
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (42,928)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (39,164)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest (4,310)
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 21 (180,582) 21
Additional paid-in capital 5,042 (217,577) 5,042
Accumulated other comprehensive income (loss) 31,412
Retained earnings 493 (80,283) 493
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,556 (447,030) 5,556
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,489 ($353,394) $5,489
============================================================= ==================== ==================== ====================
788
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission MEC Esenyurt B.V. MEC IES B.V.
Energy Consolidated
International B.V.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $118,105
Financial services and other $1,279
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 118,105 1,279
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 76,881
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 14,534 39
Depreciation, decommissioning and amortization 6,557
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 97,972 39
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 20,133 1,240
Interest and dividend income (284) 1
Other nonoperating income ($5) 3,649 10
Interest expense - net of amounts capitalized (13,341)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (5) 10,157 1,251
Income taxes (benefit) 210 3,079 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (215) 7,078 1,247
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (215) 7,078 1,247
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 11,366 413
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($215) $18,444 $1,660
=============================================================== ==================== ==================== ====================
789
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [8] Energy Power [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income $1
Other nonoperating income (4)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4)
Income taxes (benefit) (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (28)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($31)
=============================================================== ==================== ==================== ====================
790
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Indo Coal B.V. MEC Indonesia B.V. MEC Laguna Power
B.V.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $446 ($1,309)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 446 (1,309)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization 586 42 $10
Write-down of nonutility assets
Property and other taxes 6,019
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 586 42 6,029
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (140) (1,351) (6,029)
Interest and dividend income 6
Other nonoperating income (1,659) (6) (4)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (1,793) (1,357) (6,033)
Income taxes (benefit) 102 (2) (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (1,895) (1,355) (6,031)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,895) (1,355) (6,031)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 8,401 1,182 (22)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $6,506 ($173) ($6,053)
=============================================================== ==================== ==================== ====================
791
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Gulf Power MEC Perth B.V. MEC Priolo B.V.
Generation Co. Consolidated
Ltd. [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $32,438
Financial services and other $6,845
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 32,438 6,845
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 16,284
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 2,624 353
Depreciation, decommissioning and amortization 2,481 616
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 21,389 969
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 11,049 5,876
Interest and dividend income 1,909
Other nonoperating income (65) (120)
Interest expense - net of amounts capitalized (4,841)
Other nonoperating deductions (1,549)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 6,503 5,756
Income taxes (benefit) 1,989 (47)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 4,514 5,803
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 4,514 5,803
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 21,788 (15,651)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $26,302 ($9,848)
=============================================================== ==================== ==================== ====================
792
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC San Pascual MEC Sidi Krir B.V. MEC Sumatra B.V.
B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $4,760
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,760
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,760)
Interest and dividend income
Other nonoperating income (4) ($4) ($5)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4,764) (4) (5)
Income taxes (benefit) (1) (2) (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4,763) (2) (3)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4,763) (2) (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (37) (26) (28)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,800) ($30) ($31)
=============================================================== ==================== ==================== ====================
793
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Wales B.V. Mission Energy P.T. Edison
Consolidated Italia s.r.l. Mission Operation
and Maintenance
Indonesia
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other $1,084 $5,638
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,084 5,638
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,536 4,388
Depreciation, decommissioning and amortization $51 73
Write-down of nonutility assets 51
Property and other taxes 2
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 102 1,611 4,388
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (102) (527) 1,250
Interest and dividend income 93 4 34
Other nonoperating income 1,031 (27)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (9) 508 1,257
Income taxes (benefit) 35 188 442
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (44) 320 815
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (44) 320 815
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 111,608 139 (119)
Dividends declared on common stock (58,961)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($47,397) $459 $696
=============================================================== ==================== ==================== ====================
794
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC International Consolidating MEC International
Holdings B.V. Adjustments Holdings B.V.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($150,543)
Financial services and other (13,983)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (164,526)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (93,165)
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (28,234)
Depreciation, decommissioning and amortization (10,416)
Write-down of nonutility assets (51)
Property and other taxes (6,021)
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (137,887)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 26,639
Interest and dividend income (1,764)
Other nonoperating income ($8) (2,786) ($8)
Interest expense - net of amounts capitalized 18,182
Other nonoperating deductions 1,549
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (8) 11,458 (8)
Income taxes (benefit) (2) (5,992) (2)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (6) 5,465 (6)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (6) (5,465) (6)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 499 (138,986) 499
Dividends declared on common stock 158,961
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $493 ($14,510) $493
=============================================================== ==================== ==================== ====================
795
MEC International B.V., MEC International Holdings B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $49,272 $643 $10
Receivables - net 54,042 118 1,191
Fuel inventory 6,828
Materials and supplies, at average cost 660
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 5,293 77 80
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 116,095 838 1,281
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 27,896 64 25
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 27,896 64 25
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 145,464 6
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 145,464 6
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $289,455 $902 $1,312
============================================================= ==================== ==================== ====================
796
MEC International B.V., MEC International Holdings B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $20 $49,945
Receivables - net 1 ($4,648) 50,704
Fuel inventory (1,497) 5,331
Materials and supplies, at average cost 1 661
Accumulated deferred income taxes - net
Trading and price risk management assets 88 88
Prepayments and other current assets (1,950) 3,500
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 21 (8,006) 110,229
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 8,054 99,898 135,937
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 36,426 36,426
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 44,480 99,898 172,363
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 370 (129,658) 16,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 370 (129,658) 16,182
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $44,871 ($37,766) $298,774
============================================================= ==================== ==================== ====================
797
MEC International B.V., MEC International Holdings B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $12
Long-term debt classified as due within one year (4,909)
Preferred stock to be redeemed within one year
Accounts payable 41,916 $2 $149
Accrued taxes 2,737 1 33
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,608 594 1,305
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 43,364 597 1,487
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 112,148
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 19 2 52
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 19 2 52
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 40,446 59 60
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings 93,478 244 (287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 133,924 303 (227)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $289,455 $902 $1,312
============================================================= ==================== ==================== ====================
798
MEC International B.V., MEC International Holdings B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $12
Long-term debt classified as due within one year $16,190 11,281
Preferred stock to be redeemed within one year
Accounts payable $9,066 (3,962) 47,171
Accrued taxes 256 1,437 4,464
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,824 7,331
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 9,322 15,489 70,259
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (16,259) 95,889
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9,041) (9,041)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 668 41,730 42,471
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 668 32,689 33,430
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 30 2,998 43,593
Additional paid-in capital 37,088 37,088
Accumulated other comprehensive income (loss) 71 71
Retained earnings (2,237) (72,754) 18,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 34,881 (69,685) 99,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $44,871 ($37,766) $298,774
============================================================= ==================== ==================== ====================
799
MEC International B.V., MEC International Holdings B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $135,905 $434
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 135,905 434
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 76,819 434
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 10,604 54 $1,155
Depreciation, decommissioning and amortization 3,159 9 1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 90,582 497 1,156
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 45,323 (63) (1,156)
Interest and dividend income 3,049 48
Other nonoperating income 3,986 319 1,405
Interest expense - net of amounts capitalized (12,591)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 39,767 304 249
Income taxes (benefit) 2,242 48
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 37,525 304 201
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 37,525 304 201
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 55,953 (60) (488)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $93,478 $244 ($287)
=============================================================== ==================== ==================== ====================
800
MEC International B.V., MEC International Holdings B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($18,234) $118,105
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (18,234) 118,105
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (372) 76,881
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $933 1,788 14,534
Depreciation, decommissioning and amortization 19 3,369 6,557
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 952 4,785 97,972
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (952) (23,019) 20,133
Interest and dividend income (404) (2,977) (284)
Other nonoperating income 30 (2,091) 3,649
Interest expense - net of amounts capitalized (750) (13,341)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (1,326) (28,837) 10,157
Income taxes (benefit) (135) 924 3,079
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (1,191) (29,761) 7,078
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (1,191) (29,761) 7,078
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,046) (42,993) 11,366
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($2,237) ($72,754) $18,444
=============================================================== ==================== ==================== ====================
801
MEC International B.V., MEC International Holdings B.V.
MEC Perth B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Kwinana Power Perth Power MEC Perth B.V.
Partnership Partnership [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $5,168 $5,168
Receivables - net 1,458 1,457
Fuel inventory
Materials and supplies, at average cost 1,530 1,530
Accumulated deferred income taxes - net
Trading and price risk management assets (4,091) (4,091)
Prepayments and other current assets 179 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,244 4,243
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 55,511 71,164 $2
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 27,936
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 55,511 71,164 27,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 1,716 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,716 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $61,471 $77,123 $27,938
============================================================= ==================== ==================== ====================
802
MEC International B.V., MEC International Holdings B.V.
MEC Perth B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating MEC Perth B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($5,168) $5,168
Receivables - net (1,457) 1,458
Fuel inventory
Materials and supplies, at average cost (1,530) 1,530
Accumulated deferred income taxes - net
Trading and price risk management assets 4,091 (4,091)
Prepayments and other current assets (179) 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (4,243) 4,244
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (71,164) 55,513
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (27,936)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (99,100) 55,513
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (1,716) 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (1,716) 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($105,059) $61,473
============================================================= ==================== ==================== ====================
803
MEC International B.V., MEC International Holdings B.V.
MEC Perth B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Kwinana Power Perth Power MEC Perth B.V.
Partnership Partnership [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $1,328 $1,328
Preferred stock to be redeemed within one year
Accounts payable (23,236) 234 $8,361
Accrued taxes (537) (537)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 2,938 2,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (19,507) 3,963 8,361
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 42,778 42,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,227) (1,227) 636
Accumulated deferred investment tax credits
Customer advances and other deferred credits 9,070 3,323
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 115 115
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 7,958 2,211 636
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 4,028
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 34,872
Accumulated other comprehensive income (loss) (7,976) (9,132) (3,698)
Retained earnings 34,190 2,431 22,639
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 26,214 28,171 18,941
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $61,471 $77,123 $27,938
============================================================= ==================== ==================== ====================
804
MEC International B.V., MEC International Holdings B.V.
MEC Perth B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating MEC Perth B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($1,328) $1,328
Preferred stock to be redeemed within one year
Accounts payable (234) (14,875)
Accrued taxes 537 (537)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (2,938) 2,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3,963) (11,146)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (42,778) 42,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,975) (3,793)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (3,323) 9,070
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (115) 115
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (5,413) 5,392
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 282 4,310
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23 23
Additional paid-in capital (34,872)
Accumulated other comprehensive income (loss) 14,620 (6,186)
Retained earnings (32,958) 26,302
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (53,187) 20,139
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($105,059) $61,473
============================================================= ==================== ==================== ====================
805
MEC International B.V., MEC International Holdings B.V.
MEC Perth B.V. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Kwinana Power Perth Power MEC Perth B.V.
Partnership Partnership [9]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $32,438 $32,438 ($4,977)
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 32,438 32,438 (4,977)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 16,274 16,274
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,993 3,635 3
Depreciation, decommissioning and amortization 3,121 3,121 1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 21,388 23,030 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 11,050 9,408 (4,981)
Interest and dividend income 1,861 202 48
Other nonoperating income (62) (62)
Interest expense - net of amounts capitalized (4,842) (4,841)
Other nonoperating deductions (1,607)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 6,400 4,707 (4,933)
Income taxes (benefit) 1,796
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,400 4,707 (6,729)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,400 4,707 (6,729)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 30,910 2,181 29,368
Dividends declared on common stock (3,120) (4,457)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $34,190 $2,431 $22,639
=============================================================== ==================== ==================== ====================
806
MEC International B.V., MEC International Holdings B.V.
MEC Perth B.V. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating MEC Perth B.V.
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($27,461) $32,438
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (27,461) 32,438
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (16,264) 16,284
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (3,007) 2,624
Depreciation, decommissioning and amortization (3,762) 2,481
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (23,033) 21,389
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,428) 11,049
Interest and dividend income (202) 1,909
Other nonoperating income 59 (65)
Interest expense - net of amounts capitalized 4,842 (4,841)
Other nonoperating deductions 58 (1,549)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 329 6,503
Income taxes (benefit) 193 1,989
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 136 4,514
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 136 4,514
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (40,671) 21,788
Dividends declared on common stock 7,577
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($32,958) $26,302
=============================================================== ==================== ==================== ====================
807
MEC International B.V., MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges $45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $45
============================================================= ==================== ==================== ====================
808
MEC International B.V., MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges $45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $45
============================================================= ==================== ==================== ====================
809
MEC International B.V., MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $93
Accrued taxes (16)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 77
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23
Additional paid-in capital 4,745
Accumulated other comprehensive income (loss)
Retained earnings (4,800)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (32)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $45
============================================================= ==================== ==================== ====================
810
MEC International B.V., MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $93
Accrued taxes (16)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 77
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23
Additional paid-in capital 4,745
Accumulated other comprehensive income (loss)
Retained earnings (4,800)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (32)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $45
============================================================= ==================== ==================== ====================
811
MEC International B.V., MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $4,760
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,760
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,760)
Interest and dividend income
Other nonoperating income (4)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4,764)
Income taxes (benefit) (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4,763)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4,763)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (37)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,800)
=============================================================== ==================== ==================== ====================
812
MEC International B.V., MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $4,760
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,760
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,760)
Interest and dividend income
Other nonoperating income (4)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4,764)
Income taxes (benefit) (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4,763)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4,763)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (37)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,800)
=============================================================== ==================== ==================== ====================
813
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221 $121
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421 121
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (438,786) 16,978 $32,417
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,106,038 16,978 32,417
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 281,076 1,750
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076 1,750
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,413,535 $18,849 $32,417
============================================================= ==================== ==================== ====================
814
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Wales B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,342
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,542
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (389,391)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,155,433
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 282,826
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 282,826
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,464,801
============================================================= ==================== ==================== ====================
815
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582) ($347,133)
Accrued taxes (11,547) 5,084
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668) (342,049)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601 26 ($26)
Additional paid-in capital 224,698 (224,698)
Accumulated other comprehensive income (loss) (192,568) 35,381 (35,227)
Retained earnings (21,904) 100,793 292,368
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (871) 360,898 32,417
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,413,535 $18,849 $32,417
============================================================= ==================== ==================== ====================
816
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Wales B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (404,715)
Accrued taxes (6,463)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (349,717)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (192,414)
Retained earnings 371,257
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 392,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,464,801
============================================================= ==================== ==================== ====================
817
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319 $406
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319 406
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154 51
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593 51
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726 355
Interest and dividend income 110,200 12,168
Other nonoperating income 50 (760)
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,585) 11,763
Income taxes (benefit) (9,015) (147)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,430 11,910
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,430 11,910
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903 88,884 ($51,058)
Dividends declared on common stock (797,237) (1) 343,426
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($21,904) $100,793 $292,368
=============================================================== ==================== ==================== ====================
818
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Wales B.V.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,725
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,725
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,205
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,644
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 67,081
Interest and dividend income 122,368
Other nonoperating income (710)
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 9,178
Income taxes (benefit) (9,162)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 18,340
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 18,340
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 806,729
Dividends declared on common stock (453,812)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $371,257
=============================================================== ==================== ==================== ====================
819
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (220,334) ($218,452)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,324,490 ($218,452)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,631,987 ($218,452)
============================================================= ==================== ==================== ====================
820
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (438,786)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,106,038
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,413,535
============================================================= ==================== ==================== ====================
821
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582)
Accrued taxes (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,049,407 ($5,861)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (165,022) (27,546)
Retained earnings 376,742 (398,646)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 211,720 (212,591)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,631,987 ($218,452)
============================================================= ==================== ==================== ====================
822
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582)
Accrued taxes (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (192,568)
Retained earnings (21,904)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (871)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,413,535
============================================================= ==================== ==================== ====================
823
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726
Interest and dividend income 110,200
Other nonoperating income 50
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions ($28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,557) (28)
Income taxes (benefit) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,458 (28)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,458 (28)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903
Dividends declared on common stock (398,619) (398,618)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $376,742 ($398,646)
=============================================================== ==================== ==================== ====================
824
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726
Interest and dividend income 110,200
Other nonoperating income 50
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,585)
Income taxes (benefit) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,430
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,430
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903
Dividends declared on common stock (797,237)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($21,904)
=============================================================== ==================== ==================== ====================
825
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [11] [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $641,682
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 641,682
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $641,682
============================================================= ==================== ==================== ====================
826
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [11] [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $14,597
Receivables - net 5,395
Fuel inventory
Materials and supplies, at average cost 11,503
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024)
Prepayments and other current assets 754
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (48,775)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 642,008
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (38,348) $641,682
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 603,660 641,682
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $562,320 $641,682
============================================================= ==================== ==================== ====================
827
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $15,406 ($808)
Receivables - net 5,173 222
Fuel inventory
Materials and supplies, at average cost 3,783 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024)
Prepayments and other current assets 600 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (56,062) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 446,657 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($5,113)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (5,113) 446,657 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($5,113) $398,030 $965,951
============================================================= ==================== ==================== ====================
828
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [11] Holdings Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $7,623
Receivables - net 33,665
Fuel inventory
Materials and supplies, at average cost 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets 27,379
Prepayments and other current assets 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 75,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 902,816
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 902,816
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 273,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 273,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,251,654
============================================================= ==================== ==================== ====================
829
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [11] Finance plc [11] Company [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,214 $2,674 $3,214
Receivables - net 33,101 559 33,101
Fuel inventory
Materials and supplies, at average cost 1,587 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 4,942 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 42,844 3,233 42,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 664,444 199 664,444
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 9,218
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 664,444 9,417 664,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
830
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($23,699) $22,221
Receivables - net (72,156) 39,060
Fuel inventory
Materials and supplies, at average cost (14,677) 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets 81,024 (53,645)
Prepayments and other current assets (10,637) 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (40,145) 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (2,734,409) 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,469,455) (220,334)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (4,203,864) 1,324,490
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (33,671) 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (33,671) 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($4,277,680) $1,631,987
============================================================= ==================== ==================== ====================
831
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [11] [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $6,828 ($6,828)
Preferred stock to be redeemed within one year
Accounts payable $4 264,875 (277,511)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 12,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4 284,344 (284,339)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 597,287 (597,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2) (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682
Additional paid-in capital
Accumulated other comprehensive income (loss) (2) (9,323) 9,093
Retained earnings (230,625) 230,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($2) (239,948) $881,626
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $641,682
============================================================= ==================== ==================== ====================
832
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [11] [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215 $6,828 ($6,828)
Preferred stock to be redeemed within one year
Accounts payable (72,150) 264,875 (277,511)
Accrued taxes 209
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 22,480 12,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (46,246) 284,344 (284,339)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778 597,287 (597,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,349 (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 100
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 133,732 (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,791) (9,323) 9,093
Retained earnings 329,847 (230,625) 230,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 191,056 (239,948) $881,626
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $562,320 $641,682
============================================================= ==================== ==================== ====================
833
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable ($5,182) (56,478) $1,495
Accrued taxes 209
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,396 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (5,182) (49,658) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,351
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 32 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 133,666 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 33,235
Additional paid-in capital (5,113) 768,427
Accumulated other comprehensive income (loss) (1) (61,841) (76,247)
Retained earnings 70 63,963 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 69 30,244 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($5,113) $398,030 $965,951
============================================================= ==================== ==================== ====================
834
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [11] Holdings Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($6,828)
Preferred stock to be redeemed within one year
Accounts payable ($12,636) (277,511) $27,014
Accrued taxes (11,756)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 12,641 22,482
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5 (284,339) 38,383
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (597,287) 765,628
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) 244,233
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2) 244,799
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682 181,987
Additional paid-in capital
Accumulated other comprehensive income (loss) (228) 9,093 (26,047)
Retained earnings 225 230,851 46,904
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($3) $881,626 202,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,251,654
============================================================= ==================== ==================== ====================
835
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [11] Finance plc [11] Company [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $22,456 ($23,408) $22,456
Accrued taxes (11,717) (39) (11,717)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1 22,422 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,740 (1,025) 10,740
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (6,954) 33,202 (6,954)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 605,585
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,323) 7,029 (138,323)
Retained earnings 235,703 (398) 235,703
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 702,965 6,650 702,965
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
836
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613 $3,215
Preferred stock to be redeemed within one year
Accounts payable $186 341,444 (57,582)
Accrued taxes 23,264 (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities (57,384) 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 186 310,937 (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 294,216 1,049,407
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (16,348) 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits (117,283) 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (1,231) 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (134,862) 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (3,351,457)
Additional paid-in capital (763,314)
Accumulated other comprehensive income (loss) 48 399,071 (165,022)
Retained earnings (234) (1,032,271) 376,742
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($186) (4,747,971) 211,720
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($4,277,680) $1,631,987
============================================================= ==================== ==================== ====================
837
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [11] [12]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income $343 $50,541
Other nonoperating income
Interest expense - net of amounts capitalized (50,775)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (50,432) 50,541
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (50,432) 50,541
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (50,432) 50,541
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (180,193) 180,310
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($230,625) $230,851
=============================================================== ==================== ==================== ====================
838
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [11] [12]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $57,941
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 57,941
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 26,101
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 35,771
Depreciation, decommissioning and amortization 10,038
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 71,910
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (13,969)
Interest and dividend income 56,808 $343 $50,541
Other nonoperating income 50
Interest expense - net of amounts capitalized (75,275) (50,775)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (32,386) (50,432) 50,541
Income taxes (benefit) 2,024
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (34,410) (50,432) 50,541
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (34,410) (50,432) 50,541
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 364,257 (180,193) 180,310
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $329,847 ($230,625) $230,851
=============================================================== ==================== ==================== ====================
839
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $57,871 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 57,871 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,583 17,518
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,164 22,490
Depreciation, decommissioning and amortization 10,038
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 31,785 40,008
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 26,086 (39,937)
Interest and dividend income 5,923
Other nonoperating income $70 (16) (5)
Interest expense - net of amounts capitalized (24,471)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 70 7,522 (39,942)
Income taxes (benefit) 2,423
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 70 5,099 (39,942)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 70 5,099 (39,942)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 58,864 305,869
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $70 $63,963 $265,927
=============================================================== ==================== ==================== ====================
840
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [11] Holdings Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $265,378
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 265,378
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,807
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,664
Depreciation, decommissioning and amortization 21,116
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 184,587
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 80,791
Interest and dividend income $50,885 $50,541 2,508
Other nonoperating income
Interest expense - net of amounts capitalized (50,776) (53,483)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 109 50,541 29,816
Income taxes (benefit) (11,039)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 109 50,541 40,855
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 109 50,541 40,855
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 116 180,310 404,668
Dividends declared on common stock (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $225 $230,851 $46,904
=============================================================== ==================== ==================== ====================
841
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [11] Finance plc [11] Company [12]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $238,890 $238,890
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 238,890 238,890
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,772 87,772
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,371 ($4) 75,371
Depreciation, decommissioning and amortization 10,235 10,235
Write-down of nonutility assets
Property and other taxes 17,063 17,063
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 190,441 (4) 190,441
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 48,449 4 48,449
Interest and dividend income 1,012 1,446 1,012
Other nonoperating income
Interest expense - net of amounts capitalized (3) (1,591) (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 49,458 (141) 49,458
Income taxes (benefit) (15,097) (46) (15,097)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 64,555 (95) 64,555
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 64,555 (95) 64,555
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 171,148 (303) 171,148
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $235,703 ($398) $235,703
=============================================================== ==================== ==================== ====================
842
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($535,722) $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (535,722) 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (201,646) 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $97 (186,392) 111,532
Depreciation, decommissioning and amortization (30,508) 31,154
Write-down of nonutility assets
Property and other taxes (34,126)
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 97 (452,672) 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (97) (83,050) 66,726
Interest and dividend income (161,703) 110,200
Other nonoperating income (49) 50
Interest expense - net of amounts capitalized 127,619 (179,533)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (97) (117,183) (2,557)
Income taxes (benefit) 27,817 (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (97) (145,000) 6,458
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (97) (145,000) 6,458
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (137) (887,271) 768,903
Dividends declared on common stock (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($234) ($1,032,271) $376,742
=============================================================== ==================== ==================== ====================
843
MEC International B.V.
MEC Perth B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Kwinana Power Perth Power MEC Perth B.V.
Partnership Partnership [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $5,168 $5,168
Receivables - net 1,458 1,457
Fuel inventory
Materials and supplies, at average cost 1,530 1,530
Accumulated deferred income taxes - net
Trading and price risk management assets (4,091) (4,091)
Prepayments and other current assets 179 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,244 4,243
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 55,511 71,164 $2
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 27,936
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 55,511 71,164 27,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 1,716 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,716 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $61,471 $77,123 $27,938
============================================================= ==================== ==================== ====================
844
MEC International B.V.
MEC Perth B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating MEC Perth B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($5,168) $5,168
Receivables - net (1,457) 1,458
Fuel inventory
Materials and supplies, at average cost (1,530) 1,530
Accumulated deferred income taxes - net
Trading and price risk management assets 4,091 (4,091)
Prepayments and other current assets (179) 179
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (4,243) 4,244
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (71,164) 55,513
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (27,936)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (99,100) 55,513
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (1,716) 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (1,716) 1,716
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($105,059) $61,473
============================================================= ==================== ==================== ====================
845
MEC International B.V.
MEC Perth B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Kwinana Power Perth Power MEC Perth B.V.
Partnership Partnership [8]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $1,328 $1,328
Preferred stock to be redeemed within one year
Accounts payable (23,236) 234 $8,361
Accrued taxes (537) (537)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 2,938 2,937
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (19,507) 3,962 8,361
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 42,778 42,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,227) (1,227) 636
Accumulated deferred investment tax credits
Customer advances and other deferred credits 9,070 3,323
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 115 115
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 7,958 2,211 636
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 4,028
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 34,872
Accumulated other comprehensive income (loss) (7,976) (9,131) (3,698)
Retained earnings 34,190 2,431 22,639
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 26,214 28,172 18,941
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $61,471 $77,123 $27,938
============================================================= ==================== ==================== ====================
846
MEC International B.V.
MEC Perth B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating MEC Perth B.V.
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($1,328) $1,328
Preferred stock to be redeemed within one year
Accounts payable (234) (14,875)
Accrued taxes 537 (537)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (2,937) 2,938
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3,962) (11,146)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (42,778) 42,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1,975) (3,793)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (3,323) 9,070
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (115) 115
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (5,413) 5,392
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 282 4,310
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23 23
Additional paid-in capital (34,872)
Accumulated other comprehensive income (loss) 14,619 (6,186)
Retained earnings (32,957) 26,302
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (53,187) 20,139
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($105,059) $61,473
============================================================= ==================== ==================== ====================
847
MEC International B.V.
MEC Perth B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Kwinana Power Perth Power MEC Perth B.V.
Partnership Partnership [8]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $32,438 $32,438 ($4,977)
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 32,438 32,438 (4,977)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 16,274 16,274
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 1,993 3,635 3
Depreciation, decommissioning and amortization 3,121 3,121 1
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 21,388 23,030 4
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 11,050 9,408 (4,981)
Interest and dividend income 1,861 202 48
Other nonoperating income (62) (62)
Interest expense - net of amounts capitalized (4,842) (4,841)
Other nonoperating deductions (1,607)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 6,400 4,707 (4,933)
Income taxes (benefit) 1,796
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,400 4,707 (6,729)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,400 4,707 (6,729)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 30,910 2,181 29,368
Dividends declared on common stock (3,120) (4,457)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $34,190 $2,431 $22,639
=============================================================== ==================== ==================== ====================
848
MEC International B.V.
MEC Perth B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating MEC Perth B.V.
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($27,461) $32,438
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (27,461) 32,438
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (16,264) 16,284
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (3,007) 2,624
Depreciation, decommissioning and amortization (3,762) 2,481
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (23,033) 21,389
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,428) 11,049
Interest and dividend income (202) 1,909
Other nonoperating income 59 (65)
Interest expense - net of amounts capitalized 4,842 (4,841)
Other nonoperating deductions 58 (1,549)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 329 6,503
Income taxes (benefit) 193 1,989
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 136 4,514
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 136 4,514
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (40,671) 21,788
Dividends declared on common stock 7,577
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($32,958) $26,302
=============================================================== ==================== ==================== ====================
849
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges $45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $45
============================================================= ==================== ==================== ====================
850
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges $45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 45
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $45
============================================================= ==================== ==================== ====================
851
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $93
Accrued taxes (16)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 77
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23
Additional paid-in capital 4,745
Accumulated other comprehensive income (loss)
Retained earnings (4,800)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (32)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $45
============================================================= ==================== ==================== ====================
852
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $93
Accrued taxes (16)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 77
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23
Additional paid-in capital 4,745
Accumulated other comprehensive income (loss)
Retained earnings (4,800)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (32)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $45
============================================================= ==================== ==================== ====================
853
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $4,760
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,760
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,760)
Interest and dividend income
Other nonoperating income (4)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4,764)
Income taxes (benefit) (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4,763)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4,763)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (37)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,800)
=============================================================== ==================== ==================== ====================
854
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $4,760
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,760
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (4,760)
Interest and dividend income
Other nonoperating income (4)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (4,764)
Income taxes (benefit) (1)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (4,763)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (4,763)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (37)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,800)
=============================================================== ==================== ==================== ====================
855
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221 $121
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421 121
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (438,786) 16,978 $32,417
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,106,038 16,979 32,417
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 247,435
Regulatory assets - net
Other deferred charges 33,641 1,750
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076 1,750
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,413,535 $18,849 $32,417
============================================================= ==================== ==================== ====================
856
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Wales B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,342
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,542
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (389,391)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,155,433
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 247,435
Regulatory assets - net
Other deferred charges 35,391
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 282,826
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,464,801
============================================================= ==================== ==================== ====================
857
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582) ($347,133)
Accrued taxes (11,547) 5,084
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668) (342,049)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601 26 ($26)
Additional paid-in capital 224,698 (224,698)
Accumulated other comprehensive income (loss) (192,568) 35,381 (35,227)
Retained earnings (21,904) 100,793 292,368
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (871) 360,898 32,417
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,413,535 $18,849 $32,417
============================================================= ==================== ==================== ====================
858
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
MEC Wales B.V.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (404,715)
Accrued taxes (6,463)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (349,717)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (192,414)
Retained earnings 371,257
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 392,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,464,801
============================================================= ==================== ==================== ====================
859
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319 $406
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319 406
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154 51
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593 51
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726 355
Interest and dividend income 110,200 12,168
Other nonoperating income 50 (760)
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,585) 11,763
Income taxes (benefit) (9,015) (147)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,430 11,910
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,430 11,910
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903 88,884 (51,058)
Dividends declared on common stock (797,237) (1) 343,426
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($21,904) $100,793 $292,368
=============================================================== ==================== ==================== ====================
860
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
MEC Wales B.V.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,725
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,725
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,205
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,644
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 67,081
Interest and dividend income 122,368
Other nonoperating income (710)
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 9,178
Income taxes (benefit) (9,162)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 18,340
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 18,340
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 806,729
Dividends declared on common stock (453,812)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $371,257
=============================================================== ==================== ==================== ====================
861
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (220,334) ($218,452)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,324,490 (218,452)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,631,987 ($218,452)
============================================================= ==================== ==================== ====================
862
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (438,786)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,106,038
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,413,535
============================================================= ==================== ==================== ====================
863
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582)
Accrued taxes (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,049,407 ($5,861)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (165,022) (27,546)
Retained earnings 376,742 (398,646)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 211,720 (212,591)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,631,987 ($218,452)
============================================================= ==================== ==================== ====================
864
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582)
Accrued taxes (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,601
Additional paid-in capital
Accumulated other comprehensive income (loss) (192,568)
Retained earnings (21,904)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (871)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,413,535
============================================================= ==================== ==================== ====================
865
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726
Interest and dividend income 110,200
Other nonoperating income 50
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions ($28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,557) (28)
Income taxes (benefit) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,458 (28)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,458 (28)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903
Dividends declared on common stock (398,619) (398,618)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $376,742 ($398,646)
=============================================================== ==================== ==================== ====================
866
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726
Interest and dividend income 110,200
Other nonoperating income 50
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,585)
Income taxes (benefit) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,430
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,430
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903
Dividends declared on common stock (797,237)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($21,904)
=============================================================== ==================== ==================== ====================
867
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $641,682
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 641,682
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $641,682
============================================================= ==================== ==================== ====================
868
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $14,597
Receivables - net 5,395
Fuel inventory
Materials and supplies, at average cost 11,503
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024)
Prepayments and other current assets 754
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (48,775)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 642,008
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (38,348) $641,682
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 603,660 641,682
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $562,320 $641,682
============================================================= ==================== ==================== ====================
869
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $15,406 ($808)
Receivables - net 5,173 222
Fuel inventory
Materials and supplies, at average cost 3,783 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024)
Prepayments and other current assets 600 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (56,062) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 446,657 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($5,113)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (5,113) 446,657 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($5,113) $398,030 $965,951
============================================================= ==================== ==================== ====================
870
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $7,623
Receivables - net 33,665
Fuel inventory
Materials and supplies, at average cost 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets 27,379
Prepayments and other current assets 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 75,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 902,816
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 902,816
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 273,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 273,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,251,654
============================================================= ==================== ==================== ====================
871
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,214 $2,674 $3,214
Receivables - net 33,101 559 33,101
Fuel inventory
Materials and supplies, at average cost 1,587 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 4,942 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 42,844 3,233 42,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 664,444 199 664,444
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 9,218
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 664,444 9,417 664,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
872
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($23,699) $22,221
Receivables - net (72,156) 39,060
Fuel inventory
Materials and supplies, at average cost (14,677) 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets 81,024 (53,645)
Prepayments and other current assets (10,637) 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (40,145) 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (2,734,409) 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,469,455) (220,334)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (4,203,864) 1,324,490
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (33,671) 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (33,671) 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($4,277,680) $1,631,987
============================================================= ==================== ==================== ====================
873
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $6,828 ($6,828)
Preferred stock to be redeemed within one year
Accounts payable $4 264,875 (277,511)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 12,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4 284,344 (284,339)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 597,287 (597,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2) (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682
Additional paid-in capital
Accumulated other comprehensive income (loss) (2) (9,323) 9,093
Retained earnings (230,625) 230,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($2) (239,948) $881,626
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $641,682
============================================================= ==================== ==================== ====================
874
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215 $6,828 ($6,828)
Preferred stock to be redeemed within one year
Accounts payable (72,150) 264,875 (277,511)
Accrued taxes 209
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 22,480 12,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (46,246) 284,344 (284,339)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778 597,287 (597,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,349 (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 100
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 133,732 (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,791) (9,323) 9,093
Retained earnings 329,847 (230,625) 230,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 191,056 (239,948) $881,626
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $562,320 $641,682
============================================================= ==================== ==================== ====================
875
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable ($5,182) (56,478) $1,495
Accrued taxes 209
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,396 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (5,182) (49,658) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,351
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 32 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 133,666 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 33,235
Additional paid-in capital (5,113) 768,427
Accumulated other comprehensive income (loss) (1) (61,841) (76,247)
Retained earnings 70 63,963 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 69 30,244 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($5,113) $398,030 $965,951
============================================================= ==================== ==================== ====================
876
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($6,828)
Preferred stock to be redeemed within one year
Accounts payable ($12,636) (277,511) $27,014
Accrued taxes (11,756)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 12,641 22,482
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5 (284,339) 38,383
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (597,287) 765,628
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) 244,233
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2) 244,799
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682 181,987
Additional paid-in capital
Accumulated other comprehensive income (loss) (228) 9,093 (26,047)
Retained earnings 225 230,851 46,904
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($3) $881,626 202,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,251,654
============================================================= ==================== ==================== ====================
877
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $22,456 ($23,408) $22,456
Accrued taxes (11,717) (39) (11,717)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1 22,422 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,740 (1,025) 10,740
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (6,954) 33,202 (6,954)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 605,585
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,323) 7,029 (138,323)
Retained earnings 235,703 (398) 235,703
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 702,965 6,650 702,965
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
878
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613 $3,215
Preferred stock to be redeemed within one year
Accounts payable $186 341,444 (57,582)
Accrued taxes 23,264 (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities (57,384) 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 186 310,937 (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 294,216 1,049,407
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (16,348) 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits (117,283) 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (1,231) 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (134,862) 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (3,351,457)
Additional paid-in capital (763,314)
Accumulated other comprehensive income (loss) 48 399,071 (165,022)
Retained earnings (234) (1,032,271) 376,742
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($186) (4,747,971) 211,720
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($4,277,680) $1,631,987
============================================================= ==================== ==================== ====================
879
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income $343 $50,541
Other nonoperating income
Interest expense - net of amounts capitalized (50,775)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (50,432) 50,541
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (50,432) 50,541
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (50,432) 50,541
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (180,193) 180,310
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($230,625) $230,851
=============================================================== ==================== ==================== ====================
880
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $57,941
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 57,941
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 26,101
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 35,771
Depreciation, decommissioning and amortization 10,038
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 71,910
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (13,967)
Interest and dividend income 56,808 $343 $50,541
Other nonoperating income 50
Interest expense - net of amounts capitalized (75,275) (50,775)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (32,386) (50,432) 50,541
Income taxes (benefit) 2,024
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (34,410) (50,432) 50,541
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (34,410) (50,432) 50,541
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 364,257 (180,193) 180,310
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $329,847 ($230,625) $230,851
=============================================================== ==================== ==================== ====================
881
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $57,871 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 57,871 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,583 17,518
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,164 22,490
Depreciation, decommissioning and amortization 10,038
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 31,785 40,008
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 26,085 (39,937)
Interest and dividend income 5,923
Other nonoperating income $70 (16) (5)
Interest expense - net of amounts capitalized (24,471)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 70 7,522 (39,942)
Income taxes (benefit) 2,423
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 70 5,099 (39,942)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 70 5,099 (39,942)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 58,864 305,869
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $70 $63,963 $265,927
=============================================================== ==================== ==================== ====================
882
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $265,378
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 265,378
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,807
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,664
Depreciation, decommissioning and amortization 21,116
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 184,587
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 80,791
Interest and dividend income $50,885 $50,541 2,508
Other nonoperating income
Interest expense - net of amounts capitalized (50,776) (53,483)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 109 50,541 29,816
Income taxes (benefit) (11,039)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 109 50,541 40,855
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 109 50,541 40,855
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 116 180,310 404,668
Dividends declared on common stock (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $225 $230,851 $46,904
=============================================================== ==================== ==================== ====================
883
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $238,890 $238,890
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 238,890 238,890
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,772 87,772
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,371 ($4) 75,371
Depreciation, decommissioning and amortization 10,235 10,235
Write-down of nonutility assets
Property and other taxes 17,063 17,063
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 190,441 (4) 190,441
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 48,449 4 48,449
Interest and dividend income 1,012 1,446 1,012
Other nonoperating income
Interest expense - net of amounts capitalized (3) (1,591) (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 49,458 (141) 49,458
Income taxes (benefit) (15,097) (46) (15,097)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 64,555 (95) 64,555
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 64,555 (95) 64,555
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 171,148 (303) 171,148
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $235,703 ($398) $235,703
=============================================================== ==================== ==================== ====================
884
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($535,722) $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (535,722) 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (201,646) 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $97 (186,392) 111,532
Depreciation, decommissioning and amortization (30,508) 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant (34,126)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 97 (452,672) 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (97) (83,050) 66,726
Interest and dividend income (161,703) 110,200
Other nonoperating income (49) 50
Interest expense - net of amounts capitalized 127,619 (179,533)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (97) (117,183) (2,557)
Income taxes (benefit) 27,817 (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (97) (145,000) 6,458
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (97) (145,000) 6,458
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (137) (887,271) 768,903
Dividends declared on common stock (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($234) ($1,032,271) $376,742
=============================================================== ==================== ==================== ====================
885
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Celtic Offshore Edison Mission Edison Mission
Wind Limited Energy Limited Operation and
Maintenance Limited
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $4,346 $41
Receivables - net 1,194
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1,239
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 6,779 41
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 2,772
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,772
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $9,551 $41
============================================================= ==================== ==================== ====================
886
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Mission Hydro (UK) Pride Hold Limited
Services Limited Limited Consolidated
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1,326 $415 $17,252
Receivables - net 273 5,620
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1 570
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,600 415 23,442
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 119,366
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 7,562
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 7,562 119,366
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,600 $7,977 $148,993
============================================================= ==================== ==================== ====================
887
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Rapid Energy Mission Energy Consolidating
Limited Company (UK) Adjustments
Limited
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $12 $168
Receivables - net 55
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 12 223
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 13,446
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 8,323 (3,488)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,323 9,958
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 20,513 (20,241)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 20,513 (20,241)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $28,848 ($10,060)
============================================================= ==================== ==================== ====================
888
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy
Company (UK)
Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $23,560
Receivables - net 7,142
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 1,810
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 32,512
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 135,584
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 12,397
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 147,981
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 6,457
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,457
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $186,950
============================================================= ==================== ==================== ====================
889
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Celtic Offshore Edison Mission Edison Mission
Wind Limited Energy Limited Operation and
Maintenance Limited
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $1,057
Accrued taxes 656 $16
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1,717 9
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 3,430 25
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss) (958) (580)
Retained earnings 7,079 596
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 6,121 16
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $9,551 $41
============================================================= ==================== ==================== ====================
890
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Edison Mission Mission Hydro (UK) Pride Hold Limited
Services Limited Limited Consolidated
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $17,926
Preferred stock to be redeemed within one year
Accounts payable $166 ($8,011) 94
Accrued taxes 185 11 12
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 37 15 7,854
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 388 (7,985) 25,886
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 62,437
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 31,230
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 31,230
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 553
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital 8,035 145
Accumulated other comprehensive income (loss) (1,228) (1,021) 6,711
Retained earnings 2,440 6,906 22,031
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,212 15,962 28,887
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,600 $7,977 $148,993
============================================================= ==================== ==================== ====================
891
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Rapid Energy Mission Energy Consolidating
Limited Company (UK) Adjustments
Limited
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($2,115) $328
Accrued taxes 5
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 53 (212)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (2,057) 116
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (52)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (52)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 317
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 21,646 1,105
Additional paid-in capital 14,576 (9,608)
Accumulated other comprehensive income (loss) 3,917 (14,687)
Retained earnings (9,234) 12,750
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 30,905 (10,440)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $28,848 ($10,060)
============================================================= ==================== ==================== ====================
892
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy
Company (UK)
Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $17,926
Preferred stock to be redeemed within one year
Accounts payable (8,481)
Accrued taxes 885
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 9,473
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 19,803
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 62,437
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 31,178
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 31,178
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 870
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 22,751
Additional paid-in capital 15,661
Accumulated other comprehensive income (loss) (8,318)
Retained earnings 42,568
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 72,662
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $186,950
============================================================= ==================== ==================== ====================
893
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Celtic Offshore Edison Mission Edison Mission
Wind Limited Energy Limited Operation and
Maintenance Limited
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $376
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 376
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 22,389 $19
Depreciation, decommissioning and amortization 1,910
Write-down of nonutility assets
Property and other taxes 186
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 24,485 19
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (24,109) (19)
Interest and dividend income 26,144
Other nonoperating income 74
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 2,109 (19)
Income taxes (benefit) 433 (3)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 1,676 (16)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 1,676 (16)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 5,403 610
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $7,079 $596
=============================================================== ==================== ==================== ====================
894
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Edison Mission Mission Hydro (UK) Pride Hold Limited
Services Limited Limited Consolidated
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $2,951 $82,757
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,951 82,757
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 33,340
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 2,577 $18 14,523
Depreciation, decommissioning and amortization 7,691
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2,577 18 55,554
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 374 (18) 27,203
Interest and dividend income 18 45 (10,798)
Other nonoperating income
Interest expense - net of amounts capitalized (5,243)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 392 27 11,162
Income taxes (benefit) 285 (2,145)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 107 27 13,307
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 107 27 13,307
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 2,333 5,816 8,724
Dividends declared on common stock 1,063
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,440 $6,906 $22,031
=============================================================== ==================== ==================== ====================
895
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Rapid Energy Mission Energy Consolidating
Limited Company (UK) Adjustments
Limited
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $1,778
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,778
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (68)
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $235 (89)
Depreciation, decommissioning and amortization 1,190 285
Write-down of nonutility assets
Property and other taxes 1
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,425 129
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (1,425) 1,649
Interest and dividend income (47,357) 32,953
Other nonoperating income 3 25,876
Interest expense - net of amounts capitalized
Other nonoperating deductions (253)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (48,779) 60,225
Income taxes (benefit) (19) (65)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (48,760) 60,290
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (48,760) 60,290
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 39,526 25,543
Dividends declared on common stock (73,079)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,234) $12,750
=============================================================== ==================== ==================== ====================
896
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy
Company (UK)
Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $87,862
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 87,862
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 33,272
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 39,672
Depreciation, decommissioning and amortization 11,076
Write-down of nonutility assets
Property and other taxes 187
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 84,207
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 3,655
Interest and dividend income 1,005
Other nonoperating income 25,953
Interest expense - net of amounts capitalized (5,243)
Other nonoperating deductions (253)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 25,117
Income taxes (benefit) (1,514)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 26,631
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 26,631
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 87,955
Dividends declared on common stock (72,018)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $42,568
=============================================================== ==================== ==================== ====================
897
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro Mission Hydro Mission Hydro (UK)
Holdings Company Limited Limited
Consolidated Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $7,623 $22,221 $415
Receivables - net 33,665 39,060
Fuel inventory
Materials and supplies, at average cost 1,587 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets 27,379 (53,645)
Prepayments and other current assets 4,943 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 75,197 26,421 415
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 902,816 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (438,786) 7,562
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 902,816 1,106,038 7,562
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 247,435
Regulatory assets - net
Other deferred charges 273,641 33,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 273,641 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,251,654 $1,413,535 $7,977
============================================================= ==================== ==================== ====================
898
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Mission Hydro (UK)
Adjustments Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($29,844) $415
Receivables - net (72,725)
Fuel inventory
Materials and supplies, at average cost (14,677)
Accumulated deferred income taxes - net
Trading and price risk management assets 26,266
Prepayments and other current assets (10,638)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (101,618) 415
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (2,447,640)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 438,786 7,562
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (2,008,854) 7,562
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (554,717)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (554,717)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($2,665,189) $7,977
============================================================= ==================== ==================== ====================
899
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro Mission Hydro Mission Hydro (UK)
Holdings Company Limited Limited
Consolidated Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable $27,014 (57,582) ($8,011)
Accrued taxes (11,756) (11,547) 11
Regulatory liabilities - net
Trading and price risk management liabilities 643 643
Other current liabilities 22,482 57,603 15
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 38,383 (7,668) (7,985)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 765,628 1,043,546
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 244,233 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 244,799 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 181,987 213,601
Additional paid-in capital 8,035
Accumulated other comprehensive income (loss) (26,047) (192,568) 1,021
Retained earnings 46,904 (21,904) 6,906
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 202,844 (871) 15,962
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,251,654 $1,413,535 $7,977
============================================================= ==================== ==================== ====================
900
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 8, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Mission Hydro (UK)
Adjustments Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($3,215)
Preferred stock to be redeemed within one year
Accounts payable 30,568 ($8,011)
Accrued taxes 23,303 11
Regulatory liabilities - net
Trading and price risk management liabilities (1,286)
Other current liabilities (80,085) 15
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (30,715) (7,985)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (1,809,174)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (504,812)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (117,283)
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (1,232)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (623,327)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (395,588)
Additional paid-in capital 8,035
Accumulated other comprehensive income (loss) 218,615 1,021
Retained earnings (25,000) 6,906
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (201,973) 15,962
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($2,665,189) $7,977
============================================================= ==================== ==================== ====================
901
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 8, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
First Hydro Mission Hydro Mission Hydro (UK)
Holdings Company Limited Limited
Consolidated Partnership
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $265,378 $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 265,378 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,807 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,664 111,532 $18
Depreciation, decommissioning and amortization 21,115 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 184,586 256,593 18
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 80,792 66,726 (18)
Interest and dividend income 2,508 110,200 45
Other nonoperating income 50
Interest expense - net of amounts capitalized (53,484) (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 29,816 (2,585) 27
Income taxes (benefit) (11,039) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 40,855 6,430 27
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 40,855 6,430 27
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 404,668 768,903 5,816
Dividends declared on common stock (398,619) (797,237) 1,063
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $46,904 ($21,904) $6,906
=============================================================== ==================== ==================== ====================
902
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 8, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating Mission Hydro (UK)
Adjustments Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($588,697)
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (588,697)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (201,714)
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (187,196) $18
Depreciation, decommissioning and amortization (52,269)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (441,179) 18
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (147,518) (18)
Interest and dividend income (112,708) 45
Other nonoperating income (50)
Interest expense - net of amounts capitalized 233,017
Other nonoperating deductions 28
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (27,231) 27
Income taxes (benefit) 20,054
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (47,285) 27
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (47,285) 27
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (1,173,571) 5,816
Dividends declared on common stock 1,195,856 1,063
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($25,000) $6,906
=============================================================== ==================== ==================== ====================
903
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro Company First Hydro First Hydro
Finance plc Company [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,214 $2,674 $3,214
Receivables - net 33,101 559 33,101
Fuel inventory
Materials and supplies, at average cost 1,587 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 4,942 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 42,844 3,233 42,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 664,444 199 664,444
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 9,218
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 664,444 9,417 664,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
904
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro Consolidating First Hydro
Holdings Company Adjustments Holdings Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $1,735 ($3,214) $7,623
Receivables - net 5 (33,101) 33,665
Fuel inventory
Materials and supplies, at average cost (1,587) 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets 27,379 27,379
Prepayments and other current assets (4,941) 4,943
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,740 (15,464) 75,197
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 19,669 (445,940) 902,816
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 912,589 (921,807)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 932,258 (1,367,747) 902,816
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 247,406 273,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 247,406 273,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $933,998 ($1,135,805) $1,251,654
============================================================= ==================== ==================== ====================
905
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro Company First Hydro First Hydro
Finance plc Company [10]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $22,456 ($23,409) $22,456
Accrued taxes (11,717) (39) (11,717)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1 22,423 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,740 (1,025) 10,740
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (6,954) 33,202 (6,954)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 605,585
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,323) 7,029 (138,323)
Retained earnings 235,703 (398) 235,703
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 702,965 6,650 702,965
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
906
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 9, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro Consolidating First Hydro
Holdings Company Adjustments Holdings Company
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $34,920 ($29,409) $27,014
Accrued taxes 11,717 (11,756)
Regulatory liabilities - net
Trading and price risk management liabilities 643 643
Other current liabilities 59 (2) 22,482
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 34,979 (17,051) 38,383
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 727,010 19,324 765,628
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 244,233 244,233
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (566) 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 243,667 244,799
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 181,986 (1,211,188) 181,987
Additional paid-in capital
Accumulated other comprehensive income (loss) 96,978 146,592 (26,047)
Retained earnings (106,955) (317,149) 46,904
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 172,009 (1,381,745) 202,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $933,998 ($1,135,805) $1,251,654
============================================================= ==================== ==================== ====================
907
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 9, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
First Hydro Company First Hydro First Hydro
Finance plc Company [10]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $238,890 $238,890
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 238,890 238,890
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,772 87,772
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,371 ($4) 75,371
Depreciation, decommissioning and amortization 10,235 10,235
Write-down of nonutility assets
Property and other taxes 17,063 17,063
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 190,441 (4) 190,441
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 48,449 4 48,449
Interest and dividend income 1,012 1,446 1,012
Other nonoperating income
Interest expense - net of amounts capitalized (3) (1,591) (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 49,458 (141) 49,458
Income taxes (benefit) (15,097) (46) (15,097)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 64,555 (95) 64,555
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 64,555 (95) 64,555
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 171,148 (303) 171,148
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $235,703 ($398) $235,703
=============================================================== ==================== ==================== ====================
908
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 9, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
First Hydro Consolidating First Hydro
Holdings Company Adjustments Holdings Company
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility ($212,402) $265,378
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (212,402) 265,378
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (87,737) 87,807
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $324 (75,398) 75,664
Depreciation, decommissioning and amortization 645 21,115
Write-down of nonutility assets
Property and other taxes (34,176)
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 324 (196,616) 184,586
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (324) (15,786) 80,792
Interest and dividend income 49 (1,011) 2,508
Other nonoperating income
Interest expense - net of amounts capitalized (51,889) 2 (53,484)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (52,164) (16,795) 29,816
Income taxes (benefit) 19,201 (11,039)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (52,164) (35,996) 40,855
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (52,164) (35,996) 40,855
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (54,791) 117,466 404,668
Dividends declared on common stock (398,619) (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($106,955) ($317,149) $46,904
=============================================================== ==================== ==================== ====================
909
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (220,334) ($218,452)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,324,490 (218,452)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 247,435
Regulatory assets - net
Other deferred charges 33,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,631,987 ($218,452)
============================================================= ==================== ==================== ====================
910
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $22,221
Receivables - net 39,060
Fuel inventory
Materials and supplies, at average cost 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets (53,645)
Prepayments and other current assets 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (438,786)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,106,038
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 247,435
Regulatory assets - net
Other deferred charges 33,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,413,535
============================================================= ==================== ==================== ====================
911
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582)
Accrued taxes (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,049,407 ($5,860)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,600
Additional paid-in capital
Accumulated other comprehensive income (loss) (165,022) (27,546)
Retained earnings 376,742 (398,646)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 211,720 (212,592)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,631,987 ($218,452)
============================================================= ==================== ==================== ====================
912
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable (57,582)
Accrued taxes (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,043,547
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 213,600
Additional paid-in capital
Accumulated other comprehensive income (loss) (192,568)
Retained earnings (21,904)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (872)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,413,535
============================================================= ==================== ==================== ====================
913
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726
Interest and dividend income 110,200
Other nonoperating income 50
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions ($28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,557) (28)
Income taxes (benefit) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,458 (28)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,458 (28)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903
Dividends declared on common stock (398,619) (398,618)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $376,742 ($398,646)
=============================================================== ==================== ==================== ====================
914
MEC International B.V., Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Hydro
Limited
Partnership
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 111,532
Depreciation, decommissioning and amortization 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 66,726
Interest and dividend income 110,200
Other nonoperating income 50
Interest expense - net of amounts capitalized (179,533)
Other nonoperating deductions (28)
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (2,585)
Income taxes (benefit) (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,430
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,430
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 768,903
Dividends declared on common stock (797,237)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($21,904)
=============================================================== ==================== ==================== ====================
915
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [11] [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $641,682
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 641,682
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $641,682
============================================================= ==================== ==================== ====================
916
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [11] [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $14,597
Receivables - net 5,395
Fuel inventory
Materials and supplies, at average cost 11,503
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024)
Prepayments and other current assets 754
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (48,775)
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 642,008
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (38,348) $641,682
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 603,660 641,682
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $562,320 $641,682
============================================================= ==================== ==================== ====================
917
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $15,406 ($808)
Receivables - net 5,173 222
Fuel inventory
Materials and supplies, at average cost 3,783 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (81,024)
Prepayments and other current assets 600 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (56,062) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 446,657 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($5,113)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (5,113) 446,657 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,435
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($5,113) $398,030 $965,951
============================================================= ==================== ==================== ====================
918
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [11] Holdings Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $7,623
Receivables - net 33,665
Fuel inventory
Materials and supplies, at average cost 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets 27,379
Prepayments and other current assets 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 75,196
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 902,816
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 902,816
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 247,435
Regulatory assets - net
Other deferred charges 26,207
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 273,642
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,251,654
============================================================= ==================== ==================== ====================
919
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [11] Finance plc [11] Company [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $3,214 $2,674 $3,214
Receivables - net 33,101 559 33,101
Fuel inventory
Materials and supplies, at average cost 1,587 1,587
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 4,942 4,942
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 42,844 3,233 42,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 664,444 199 664,444
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 9,218
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 664,444 9,417 664,444
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill
Regulatory assets - net
Other deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 29 26,177 29
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
920
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($23,699) $22,221
Receivables - net (72,156) 39,060
Fuel inventory
Materials and supplies, at average cost (14,677) 13,090
Accumulated deferred income taxes - net
Trading and price risk management assets 81,024 (53,645)
Prepayments and other current assets (10,637) 5,695
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (40,145) 26,421
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (2,734,409) 1,544,824
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (1,469,455) (220,334)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (4,203,864) 1,324,490
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Goodwill 247,435
Regulatory assets - net
Other deferred charges (33,671) 33,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (33,671) 281,076
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($4,277,680) $1,631,987
============================================================= ==================== ==================== ====================
921
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [11] [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $6,828 ($6,828)
Preferred stock to be redeemed within one year
Accounts payable $4 264,875 (277,511)
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 12,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4 284,344 (284,339)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 597,287 (597,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2) (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682
Additional paid-in capital
Accumulated other comprehensive income (loss) (2) (9,323) 9,093
Retained earnings (230,625) 230,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($2) (239,948) $881,626
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $641,682
============================================================= ==================== ==================== ====================
922
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [11] [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215 $6,828 ($6,828)
Preferred stock to be redeemed within one year
Accounts payable (72,150) 264,875 (277,511)
Accrued taxes 209
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 22,480 12,641
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (46,246) 284,344 (284,339)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778 597,287 (597,287)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,349 (1)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 100
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 133,732 (1)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,791) (9,323) 9,093
Retained earnings 329,847 (230,625) 230,851
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 191,056 (239,948) $881,626
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $562,320 $641,682
============================================================= ==================== ==================== ====================
923
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,215
Preferred stock to be redeemed within one year
Accounts payable ($5,182) (56,478) $1,495
Accrued taxes 209
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,396 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (5,182) (49,658) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 283,778
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,351
Accumulated deferred investment tax credits
Customer advances and other deferred credits 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 32 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 133,666 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 33,235
Additional paid-in capital (5,113) 768,427
Accumulated other comprehensive income (loss) (1) (61,841) (76,247)
Retained earnings 70 63,963 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 69 30,244 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($5,113) $398,030 $965,951
============================================================= ==================== ==================== ====================
924
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [11] Holdings Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($6,828)
Preferred stock to be redeemed within one year
Accounts payable ($12,636) (277,511) $27,014
Accrued taxes (11,756)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities 12,641 22,482
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5 (284,339) 38,383
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (597,287) 765,628
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) 244,233
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (2) 244,799
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 641,682 181,987
Additional paid-in capital
Accumulated other comprehensive income (loss) (228) 9,093 (26,047)
Retained earnings 225 230,851 46,904
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($3) $881,626 202,844
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,251,654
============================================================= ==================== ==================== ====================
925
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [11] Finance plc [11] Company [12]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $22,456 ($23,408) $22,456
Accrued taxes (11,717) (39) (11,717)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 1 22,422 1
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,740 (1,025) 10,740
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (6,954) 33,202 (6,954)
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 566 566
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 605,585
Additional paid-in capital
Accumulated other comprehensive income (loss) (138,323) 7,029 (138,323)
Retained earnings 235,703 (398) 235,703
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 702,965 6,650 702,965
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $707,317 $38,827 $707,317
============================================================= ==================== ==================== ====================
926
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613 $3,215
Preferred stock to be redeemed within one year
Accounts payable $186 341,444 (57,582)
Accrued taxes 23,264 (11,547)
Regulatory liabilities - net
Trading and price risk management liabilities 643
Other current liabilities (57,384) 57,603
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 186 310,937 (7,668)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 294,216 1,049,407
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (16,348) 260,579
Accumulated deferred investment tax credits
Customer advances and other deferred credits (117,283) 117,283
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (1,231) 666
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (134,862) 378,528
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (3,351,457)
Additional paid-in capital (763,314)
Accumulated other comprehensive income (loss) 48 399,071 (165,022)
Retained earnings (234) (1,032,271) 376,742
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($186) (4,747,971) 211,720
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($4,277,680) $1,631,987
============================================================= ==================== ==================== ====================
927
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [11] [12]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss)
Interest and dividend income $343 $50,541
Other nonoperating income
Interest expense - net of amounts capitalized (50,775)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (50,432) 50,541
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (50,432) 50,541
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (50,432) 50,541
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (180,193) 180,310
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($230,625) $230,851
=============================================================== ==================== ==================== ====================
928
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [11] [12]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $57,941
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 57,941
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 26,101
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 35,771
Depreciation, decommissioning and amortization 10,038
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 71,910
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (13,969)
Interest and dividend income 56,808 $343 $50,541
Other nonoperating income 50
Interest expense - net of amounts capitalized (75,275) (50,775)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (32,386) (50,432) 50,541
Income taxes (benefit) 2,024
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (34,410) (50,432) 50,541
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (34,410) (50,432) 50,541
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 364,257 (180,193) 180,310
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $329,847 ($230,625) $230,851
=============================================================== ==================== ==================== ====================
929
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [11] Venture [12]
Australia Pty Ltd
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $57,871 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 57,871 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,583 17,518
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,164 22,490
Depreciation, decommissioning and amortization 10,038
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 31,785 40,008
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 26,086 (39,937)
Interest and dividend income 5,923
Other nonoperating income $70 (16) (5)
Interest expense - net of amounts capitalized (24,471)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 70 7,522 (39,942)
Income taxes (benefit) 2,423
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 70 5,099 (39,942)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 70 5,099 (39,942)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 58,864 305,869
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $70 $63,963 $265,927
=============================================================== ==================== ==================== ====================
930
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [11] Holdings Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $265,378
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 265,378
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,807
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,664
Depreciation, decommissioning and amortization 21,116
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 184,587
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 80,791
Interest and dividend income $50,885 $50,541 2,508
Other nonoperating income
Interest expense - net of amounts capitalized (50,776) (53,483)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 109 50,541 29,816
Income taxes (benefit) (11,039)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 109 50,541 40,855
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 109 50,541 40,855
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 116 180,310 404,668
Dividends declared on common stock (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $225 $230,851 $46,904
=============================================================== ==================== ==================== ====================
931
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
First Hydro First Hydro First Hydro
Company [11] Finance plc [11] Company [12]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $238,890 $238,890
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 238,890 238,890
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,772 87,772
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 75,371 ($4) 75,371
Depreciation, decommissioning and amortization 10,235 10,235
Write-down of nonutility assets
Property and other taxes 17,063 17,063
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 190,441 (4) 190,441
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 48,449 4 48,449
Interest and dividend income 1,012 1,446 1,012
Other nonoperating income
Interest expense - net of amounts capitalized (3) (1,591) (3)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 49,458 (141) 49,458
Income taxes (benefit) (15,097) (46) (15,097)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 64,555 (95) 64,555
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 64,555 (95) 64,555
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 171,148 (303) 171,148
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $235,703 ($398) $235,703
=============================================================== ==================== ==================== ====================
932
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 10, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation ($535,722) $323,319
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (535,722) 323,319
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (201,646) 113,907
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $97 (186,392) 111,532
Depreciation, decommissioning and amortization (30,508) 31,154
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant (34,126)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 97 (452,672) 256,593
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (97) (83,050) 66,726
Interest and dividend income (161,703) 110,200
Other nonoperating income (49) 50
Interest expense - net of amounts capitalized 127,619 (179,533)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (97) (117,183) (2,557)
Income taxes (benefit) 27,817 (9,015)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (97) (145,000) 6,458
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (97) (145,000) 6,458
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (137) (887,271) 768,903
Dividends declared on common stock (398,619)
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($234) ($1,032,271) $376,742
=============================================================== ==================== ==================== ====================
933
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Lakeland Power Lakeland Power Ltd Pride Hold Limited
Development Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $2 $17,231 $20
Receivables - net 18,708 1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 570
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2 36,509 21
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 106,565
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 14,063
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 106,565 14,063
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2 $149,259 $14,084
============================================================= ==================== ==================== ====================
934
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Pride Hold Limited
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($1) $17,252
Receivables - net (13,089) 5,620
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 570
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (13,090) 23,442
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 12,801 119,366
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (14,063)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (1,262) 119,366
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($14,352) $148,993
============================================================= ==================== ==================== ====================
935
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Lakeland Power Lakeland Power Ltd Pride Hold Limited
Development Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $17,926
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($163) 397 $13,249
Accrued taxes 12
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 7,538 17
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (163) 25,873 13,266
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 62,437
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 30,201
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 30,201
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1
Additional paid-in capital 145
Accumulated other comprehensive income (loss) (24) (45,528) 45,821
Retained earnings 189 76,275 (45,148)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 165 30,748 818
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2 $149,259 $14,084
============================================================= ==================== ==================== ====================
936
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Pride Hold Limited
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $17,926
Preferred stock to be redeemed within one year
Accounts payable ($13,089) 394
Accrued taxes 12
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (1) 7,554
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (13,090) 25,886
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 62,437
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,029 31,230
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,029 31,230
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 553 553
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (1)
Additional paid-in capital 145
Accumulated other comprehensive income (loss) 6,441 6,710
Retained earnings (9,284) 22,032
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (2,844) 28,887
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($14,352) $148,993
============================================================= ==================== ==================== ====================
937
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Lakeland Power Lakeland Power Ltd Pride Hold Limited
Development Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $82,757
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 82,757
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 33,340
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 14,510 $13,665
Depreciation, decommissioning and amortization 7,056
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 54,906 13,665
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 27,851 (13,665)
Interest and dividend income 745 2,110
Other nonoperating income
Interest expense - net of amounts capitalized (5,243)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 23,353 (11,555)
Income taxes (benefit) (2,145)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 25,498 (11,555)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 25,498 (11,555)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year $189 50,777 (33,593)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $189 $76,275 ($45,148)
=============================================================== ==================== ==================== ====================
938
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating Pride Hold Limited
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $82,757
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 82,757
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 33,340
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance ($13,651) 14,524
Depreciation, decommissioning and amortization 634 7,690
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (13,017) 55,554
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (13,017)) 27,203
Interest and dividend income (13,653) (10,798)
Other nonoperating income
Interest expense - net of amounts capitalized (5,243)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (636) 11,162
Income taxes (benefit) (1) (2,146)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (635) 13,308
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (635) 13,308
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (8,649) 8,724
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,284) $22,032
=============================================================== ==================== ==================== ====================
939
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Lakeland Power Lakeland Power Ltd Pride Hold Limited
Development Company
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $2 $17,231 $20
Receivables - net 18,708 1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 570
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2 36,509 21
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 106,565
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 14,063
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 106,565 14,063
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2 $149,259 $14,084
============================================================= ==================== ==================== ====================
940
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Pride Hold Limited
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($1) $17,252
Receivables - net (13,089) 5,620
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets 570
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (13,090) 23,442
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 12,801 119,366
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (14,063)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (1,262) 119,366
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,185
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($14,352) $148,993
============================================================= ==================== ==================== ====================
941
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Lakeland Power Lakeland Power Ltd Pride Hold Limited
Development Company
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt $17,926
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year ($163) 397 $13,249
Accounts payable 12
Accrued taxes
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (163) 25,873 13,266
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 30,201
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 30,201
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1
Additional paid-in capital 145
Accumulated other comprehensive income (loss) (24) (45,528) 45,821
Retained earnings 189 76,275 (45,148)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 165 30,748 818
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2 $149,259 $14,084
============================================================= ==================== ==================== ====================
942
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Consolidating Pride Hold Limited
Adjustments Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $17,926
Preferred stock to be redeemed within one year
Accounts payable ($13,089) 394
Accrued taxes 12
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (1) 7,554
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (13,090) 25,886
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 62,437
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,029 31,230
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 1,029 31,230
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 553 553
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (1)
Additional paid-in capital 145
Accumulated other comprehensive income (loss) 6,441 6,710
Retained earnings (9,284) 22,032
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (2,844) 28,887
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($14,352) $148,993
============================================================= ==================== ==================== ====================
943
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Lakeland Power Lakeland Power Ltd Pride Hold Limited
Development Company
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $82,757
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 82,757
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 33,340
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 14,510 $13,665
Depreciation, decommissioning and amortization 7,056
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 54,906 13,665
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 27,851 (13,665)
Interest and dividend income 745 2,110
Other nonoperating income
Interest expense - net of amounts capitalized (5,243)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 23,353 (11,555)
Income taxes (benefit) (2,145)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 25,498 (11,555)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 25,498 (11,555)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year $189 50,777 (33,593)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $189 $76,275 ($45,148)
=============================================================== ==================== ==================== ====================
944
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Consolidating Pride Hold Limited
Adjustments Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility $82,757
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 82,757
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 33,340
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance ($13,651) 14,524
Depreciation, decommissioning and amortization 634 7,690
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (13,017) 55,554
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 13,017 27,203
Interest and dividend income (13,653) (10,798)
Other nonoperating income
Interest expense - net of amounts capitalized (5,243)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (636) 11,162
Income taxes (benefit) (1) (2,146)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (635) 13,308
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (635) 13,308
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (8,649) 8,724
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,824) $22,032
=============================================================== ==================== ==================== ====================
945
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME del Caribe EME del Caribe [8] EcoElectrica
Holding GmbH Holdings, Ltd. [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $369
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 369
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 256,457 $241,947
Investments in leveraged leases
Other investments 610 447
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 257,067 242,394
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $257,771 $242,394
============================================================= ==================== ==================== ====================
946
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EcoElectrica Ltd. EcoElectrica Consolidating
[10] S.a.r.l. Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $11
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 11
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 224,992 ($481,450)
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 224,992 (481,450)
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $225,003 ($481,450)
============================================================= ==================== ==================== ====================
947
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EcoElectrica
S.a.r.l.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $380
Receivables - net
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Trading and price risk management assets
Prepayments and other current assets
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 380
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 241,946
Investments in leveraged leases
Other investments 1,057
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 243,003
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $243,718
============================================================= ==================== ==================== ====================
948
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EME del Caribe EME del Caribe [8] EcoElectrica
Holding GmbH Holdings, Ltd. [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,299) $46
Accrued taxes 20 119
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (944) 165
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 42
Additional paid-in capital 258,450 256,457
Accumulated other comprehensive income (loss) (13,978)
Retained earnings 223 (250)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 258,715 242,229
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $257,771 $242,394
============================================================= ==================== ==================== ====================
949
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EcoElectrica Ltd. EcoElectrica Consolidating
[10] S.a.r.l. Adjustments
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable $35
Accrued taxes (7)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 28
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 15 ($43)
Additional paid-in capital 224,992 (481,407)
Accumulated other comprehensive income (loss)
Retained earnings (32)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 224,975 (481,450)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $225,003 ($481,450)
============================================================= ==================== ==================== ====================
950
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
EcoElectrica
S.a.r.l.
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year
Preferred stock to be redeemed within one year
Accounts payable ($1,218)
Accrued taxes 132
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 335
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (751)
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 14
Additional paid-in capital 258,492
Accumulated other comprehensive income (loss) (13,978)
Retained earnings (59)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 224,469
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $243,718
============================================================= ==================== ==================== ====================
951
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EME del Caribe EME del Caribe [8] EcoElectrica
Holding GmbH Holdings, Ltd. [9]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $13,285
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 13,285
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $35 22
Depreciation, decommissioning and amortization 30 6,368
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 65 6,390
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (65) 6,895
Interest and dividend income 77
Other nonoperating income (4)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 8 6,895
Income taxes (benefit) 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 5 6,895
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 5 6,895
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 218 (7,145)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $223 ($250)
=============================================================== ==================== ==================== ====================
952
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EcoElectrica Ltd. EcoElectrica Consolidating
[10] S.a.r.l. Adjustments
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance $19
Depreciation, decommissioning and amortization
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 19
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) (19)
Interest and dividend income
Other nonoperating income (1)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes (20)
Income taxes (benefit)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations (20)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) (20)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (12)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($32)
=============================================================== ==================== ==================== ====================
953
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 7, et seq.]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
EcoElectrica
S.a.r.l.
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $13,285
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 13,285
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 76
Depreciation, decommissioning and amortization 6,398
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 6,474
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 6,811
Interest and dividend income 77
Other nonoperating income (5)
Interest expense - net of amounts capitalized
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 6,883
Income taxes (benefit) 3
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 6,880
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 6,880
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (6,939)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($59)
=============================================================== ==================== ==================== ====================
954
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [8] Venture [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents $48 $5,420 ($808)
Receivables - net 5,172 222
Fuel inventory
Materials and supplies, at average cost 3,937 7,720
Accumulated deferred income taxes - net
Trading and price risk management assets (84,331)
Prepayments and other current assets 625 152
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 48 (69,177) 7,286
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 555,055 958,665
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 13,161
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 13,161 555,055 958,665
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,998
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
955
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Traralgon Power Consolidating Traralgon Power
Pty Ltd Adjustments Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
------------------------------------------------------------- -------------------- -------------------- --------------------
Cash and equivalents ($4,660)
Receivables - net (5,394)
Fuel inventory
Materials and supplies, at average cost (11,657)
Accumulated deferred income taxes - net
Trading and price risk management assets 84,331
Prepayments and other current assets (777)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 61,843
------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (1,513,720)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,477 (13,161) $5,477
Investments in leveraged leases
Other investments
------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,477 (1,526,881) 5,477
------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution
Generation
Accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant
------------------------------------------------------------- -------------------- -------------------- --------------------
Regulatory assets - net
Other deferred charges (2,998)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (2,998)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,477 ($1,468,036) $5,477
============================================================= ==================== ==================== ====================
956
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [8] Venture [9]
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year $3,613
Preferred stock to be redeemed within one year
Accounts payable $1,466 (16,233) $1,495
Accrued taxes 218
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities 3,322 6,282
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,466 (9,080) 7,777
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 318,622
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (7) (25,290)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 251,991
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities 34 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (7) 226,735 67
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (77,105) (5,958) 768,427
Accumulated other comprehensive income (loss) 74,771 (51,432) (76,247)
Retained earnings 14,084 9,989 265,927
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 11,750 (47,401) 958,107
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,209 $488,876 $965,951
============================================================= ==================== ==================== ====================
957
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 2001
(In thousands)
Traralgon Power Consolidating Traralgon Power
Pty Ltd Adjustments Pty Ltd
Consolidated
------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------------------------------- -------------------- -------------------- --------------------
Short-term debt
Long-term debt classified as due within one year ($3,613)
Preferred stock to be redeemed within one year
Accounts payable $2,372 13,272 $2,372
Accrued taxes (218)
Regulatory liabilities - net
Trading and price risk management liabilities
Other current liabilities (9,604)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,372 (163) 2,372
------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 133,068 (318,622) 133,068
------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (433) 25,297 (433)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (251,991)
Power-purchase contracts
Accumulated provision for pension and benefits
Other long-term liabilities (101)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (433) (226,795) (433)
------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest
------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock of utility:
Not subject to mandatory redemption
Subject to mandatory redemption
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures
Other preferred securities
------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries
------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock
Additional paid-in capital (24,644) (685,364) (24,644)
Accumulated other comprehensive income (loss) (98,248) 52,908 (98,248)
Retained earnings (6,638) (290,000) (6,638)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (129,530) (922,456) (129,530)
------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,477 ($1,468,036) $5,477
============================================================= ==================== ==================== ====================
958
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Mission Victoria Latrobe Power Loy Yang B Joint
Partnership Partnership [8] Venture [9]
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $9,194 $69,543 $71
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 9,194 69,543 71
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 8,934 17,517
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance 13,689 22,490
Depreciation, decommissioning and amortization 12,457
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 35,080 40,007
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 9,194 34,463 (39,936)
Interest and dividend income 2 1,290
Other nonoperating income (8) (5)
Interest expense - net of amounts capitalized (27,049)
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 9,196 8,696 (39,941)
Income taxes (benefit) (238)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 9,196 8,934 (39,941)
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 9,196 8,934 (39,941)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year 4,888 1,055 305,868
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $14,084 $9,989 $265,927
=============================================================== ==================== ==================== ====================
959
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 2001
(In thousands)
Traralgon Power Consolidating Traralgon Power
Pty Ltd Adjustments Pty Ltd
Consolidated
--------------------------------------------------------------- -------------------- -------------------- --------------------
Electric utility
Nonutility power generation $4,293 ($78,808) $4,293
Financial services and other
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 4,293 (78,808) 4,293
--------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (26,451)
Purchased power
Provisions for regulatory adjustment clauses - net
Other operation and maintenance (36,179)
Depreciation, decommissioning and amortization (12,457)
Write-down of nonutility assets
Property and other taxes
Net gain on sale of utility plant
--------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (75,087)
--------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (loss) 4,293 (3,721) 4,293
Interest and dividend income 46 (1,292) 46
Other nonoperating income 60 13 60
Interest expense - net of amounts capitalized 27,049
Other nonoperating deductions
Dividends on preferred securities
Dividends on utility preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations before taxes 4,399 (22,049) 4,399
Income taxes (benefit) 1,139 238 1,139
--------------------------------------------------------------- -------------------- -------------------- --------------------
Income (loss) from continuing operations 3,260 21,811 3,260
Loss from discontinued operations
(including loss on disposal of $1,309, net of tax)
Income taxes (benefit) on discontinued operations
--------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (loss) 3,260 21,811 3,260
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - beginning of year (9,898) (311,811) (9,898)
Dividends declared on common stock
Dividends declared on preferred stock
--------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6,638) ($290,000) ($6,638)
=============================================================== ==================== ==================== ====================
960
MEC International B.V.
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: Contact Energy Limited Derwent Cogeneration EcoElectrica, L.P.
Limited
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $59,520 $404,681
Revenues $29,199 $118,511
Net Income (Loss) $1,972 $15,261
Nature/Purpose of Business: To own and operate a 214 To own and operate a 540
MW gas-fired, combined MW gas-fired, combined
cycle cogeneration cycle cogeneration
facility in the United facility in Puerto Rico
Kingdom.
Ownership Interest(s) 33% by Mission Energy 99.0% of 50% by
Company (UK) Limited EcoElectrica Holdings,
Ltd.
1.0% of 50% by
EcoElectrica Ltd., which
is owned by EcoElectrica
Holdings, Ltd.
Name of Entity: ISAB Energy s.r.l. P.T. Adaro Indonesia P.T. Paiton Energy
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $413,261 $20,000 $1,188,741
Revenues $170,823 $38,579 $108,465
Net Income (Loss) $20,929 $939 ($26,746)
Nature/Purpose of Business: To own and operate a 512 Fuel supplier for P.T. To own and operate a
MW cogeneration facility Paiton Energy Company 1,230 MW cogeneration
located in Sicily, Italy located in Indonesia facility located in
Indonesia.
Ownership Interest(s) 49% by MEC Priolo B.V. 8.17% MEC Indo Coal B.V. 40% by MEC Indonesia B.V.
961
MEC International B.V.
Equity Investments
December 31, 2001
(In thousands)
Name of Entity: San Pascual Cogeneration Tri Energy Company Limited I.V.P.C. 4 S.r.1
Company (Philippines) Ltd.
---------------------------------------- --------------------------- --------------------------- ---------------------------
Equity Interest:
Assets $93,029 $159,926
Revenues $45,305 $22,865
Net Income (Loss) $3,958 $4,639
Nature/Purpose of Business: To own and operate a 700 To own and operate
MW combined cycle facilites which use wind
cogeneration facility to generate electricity.
located in Thailand.
Ownership Interest(s) 25% by EME Tri Gen B.V. 50% by Edison Mission
Wind Power Italy B.V.
962