EX-99 9 e128837_ex5.txt EX. 5 - (FS-2) PRO FORMA FINANCIAL STATEMENTS Exhibit 5 Page 1 of 3 UNION ELECTRIC COMPANY BALANCE SHEET March 31, 2002 (In Millions, Except Per Share Amounts)
PRO FORMA PER ADJUSTMENTS AS BOOKS (SEE PAGE 3) ADJUSTED --------------------------------------------- ASSETS: Property and plant, at original cost: Electric $ 9,919 (110)(A) $ 9,919 110 (B) Gas 255 255 Other 37 37 --------------------------------------------- 10,211 - 10,211 Less accumulated depreciation and amortizati 4,862 4 (F) 4,866 --------------------------------------------- 5,349 (4) 5,345 Construction work in progress: Nuclear fuel in process 102 102 Other 288 288 --------------------------------------------- Total property and plant, net 5,739 (4) 5,735 --------------------------------------------- Investments and other assets: Nuclear decommissioning trust fund 188 188 Other 84 110 (C) 191 (3)(E) --------------------------------------------- Total investments and other assets 272 107 379 --------------------------------------------- Current assets: Cash and cash equivalents 12 110 (A) 12 (110)(C) (9)(D) 9 (E) Accounts receivable - trade (less allowance for doubtful accounts of $8 and $7, respectively) 222 222 Other accounts and notes receivable 30 30 Materials and supplies, at average cost - Fossil fuel 56 56 Other 86 86 Other 13 13 --------------------------------------------- Total current assets 419 - 419 --------------------------------------------- Regulatory assets: Deferred income taxes 604 604 Other 131 131 --------------------------------------------- Total regulatory assets 735 - 735 --------------------------------------------- Total Assets $ 7,165 $ 103 $ 7,268 ============================================= TABLE CONT'D PRO FORMA PER ADJUSTMENTS AS BOOKS (SEE PAGE 3) ADJUSTED --------------------------------------------- CAPITAL AND LIABILITIES: Capitalization: Common stock, $5 par value, 150.0 shares authorized - 102.1 shares outstanding $ 511 $ 511 Other paid-in capital, principally premium on common stock 702 702 Retained earnings 1,413 (6)(D) 1,411 6 (E) (4)(F) 2 (G) Accumulated other comprehensive income (1) (1) --------------------------------------------- Total common stockholder's equity 2,625 (2) 2,623 --------------------------------------------- Preferred stock not subject to mandatory redemption 155 155 Long-term debt 1,605 110(B) 1,712 (3)(D) --------------------------------------------- Total capitalization 4,385 105 4,490 --------------------------------------------- Current liabilities: Current maturity of long-term debt 89 89 Intercompany notes payable 192 192 Accounts and wages payable 135 135 Accumulated deferred income taxes 34 34 Taxes accrued 158 (2)(G) 156 Other 126 126 --------------------------------------------- Total current liabilities 734 (2) 732 --------------------------------------------- Accumulated deferred income taxes 1,322 1,322 Accumulated deferred investment tax credits 127 127 Regulatory liabilities 137 137 Other deferred credits and liabilities 460 460 --------------------------------------------- Total Capital and Liabilities $ 7,165 $ 103 $ 7,268 =============================================
Exhibit 5 Page 2 of 3 UNION ELECTRIC COMPANY STATEMENT OF INCOME Twelve Months Ended March 31, 2002 (In Millions)
PRO FORMA PER ADJUSTMENTS AS BOOKS (SEE PAGE 3) ADJUSTED ----------------------------------------------- OPERATING REVENUES: Electric $ 2,494 $ 2,494 Gas 127 127 ----------------------------------------------- Total operating revenues 2,621 2,621 OPERATING EXPENSES: Operations Fuel and purchased power 629 629 Gas 70 70 Other 520 520 ----------------------------------------------- 1,219 1,219 Maintenance 259 259 Depreciation and amortization 283 4 (F) 287 Income taxes 205 (2)(G) 203 Other taxes 216 216 ----------------------------------------------- Total operating expenses 2,182 2 2,184 ----------------------------------------------- OPERATING INCOME 439 (2) 437 OTHER INCOME AND (DEDUCTIONS): Allowance for equity funds used during construction 13 13 Miscellaneous, net 40 6 (E) 46 ----------------------------------------------- Total other income and (deductions) 53 6 59 INCOME BEFORE INTEREST CHARGES 492 4 496 INTEREST CHARGES: Interest 112 6 (D) 118 Allowance for borrowed funds used during construction (7) (7) ----------------------------------------------- Net interest charges 105 6 111 ----------------------------------------------- NET INCOME 387 (2) 385 PREFERRED STOCK DIVIDENDS 9 9 ----------------------------------------------- NET INCOME AFTER PREFERRED STOCK DIVIDENDS $ 378 $ (2) $ 376 ===============================================
Exhibit 5 Page 3 of 3
UNION ELECTRIC COMPANY PRO FORMA ADJUSTING ENTRIES March 31, 2002 (In Millions) Entry A CASH 110 PROPERTY & PLANT 110 To reflect sale of property and improvements to City of Bowling Green. Entry B PROPERTY & PLANT 110 CAPITALIZED LEASE OBLIGATIONS 110 To reflect leaseback of property and improvements from City of Bowling Green. Entry C INVESTMENT IN SECURITIES 110 CASH 110 To reflect purchase of Chapter 100 bonds from City of Bowling Green. Entry D CAPITALIZED LEASE OBLIGATIONS 3 INTEREST EXPENSE 6 CASH 9 To reflect payments made under the lease. Entry E CASH 9 INVESTMENT IN SECURITIES 3 INTEREST INCOME 6 To reflect bond payment receipts. Entry F DEPRECIATION EXPENSE 4 ACCUMULATED DEPRECIATION 4 To reflect depreciation of leased assets. Entry G TAXES ACCRUED 2 INCOME TAXES 2 To reflect income tax effect of this transaction.