EX-99 5 fe_rule24exh1-2.txt EXHIBIT 1-2 Exhibit 1-2 FIRSTENERGY FACILITIES SERVICES GROUP, LLC Consolidated Balance Sheet (Unaudited) June 30, 2002 ------------------------------------------ (In Thousands) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 18,597 Receivables: Customers - Associated companies 9,375 Other 141,260 Notes receivable from associated companies - Material and supplies 8,548 Prepayments and other 631 -------- 178,411 -------- INVESTMENTS: Nonutility property, net 36,159 Other 5,494 -------- 41,653 -------- DEFERRED CHARGES: Goodwill 194,956 Accumulated deferred income taxes assets 5,375 Other - -------- 200,331 -------- TOTAL ASSETS $ 420,395 ======== LIABILITIES & STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Notes payable long-term debt $ - Short-term borrowings 2,712 Notes payable to associated companies 34,405 Accounts payable Other 65,210 Associated companies - Accrued taxes 3,902 Accrued interest - Other 23,165 -------- 129,394 -------- CAPITALIZATION: Common stockholders' equity 264,635 Long-term debt 14,127 -------- 278,762 -------- DEFERRED CREDITS: Accumulated deferred income taxes 7,463 Other 4,776 -------- 12,239 -------- TOTAL LIABILITIES & CAPITALIZATION $ 420,395 ======== Exhibit 1-2 FIRSTENERGY FACILITIES SERVICES GROUP, LLC Consolidated Statement of Income (Unaudited) -------------------------------------------- (In Thousands) Three Months Six Months Ended Ended June 30,2002 June 30, 2002 ------------ ------------- REVENUES $ 135,712 $ 255,035 Direct costs of revenue 115,584 219,546 ------- ------- Gross profit 20,128 35,489 Selling, general and administrative expenses 18,203 32,292 Depreciation 1,677 3,438 Accrual for loss contracts - - ------- ------- Operating income/(loss) before goodwill and purchase agreement incentive plans 248 (241) Purchase agreement incentive plans 104 494 ------- ------- Operating income/(loss) 144 (735) Interest income 360 649 Interest expense (624) (1,339) Gain/(loss) on sale of fixed assets (63) (120) Other income/(expense) 146 335 ------- ------- Total other income/(expense) (181) (475) ------- ------- Income/(Loss) before income taxes (37) (1,210) Provision for income taxes 173 158 ------- ------- Net income/(loss) $ (210) $ (1,052) ======= =======