EX-99 4 nuhc_exh1-1.txt EXHIBIT 1-1 Exhibit 1-1 FIRSTENERGY VENTURES CORP. Consolidated Balance Sheet (Unaudited) December 31, 2003 -------------------------------------- (In Thousands) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 5,183 Receivables: Associated companies 16,023 Other 29,543 Notes receivable from associated companies 33,979 Material and supplies 537 Prepayments and other 2,808 -------- 88,073 -------- PROPERTY, PLANT AND EQUIPMENT: In service 203,866 Less: Accumulated provision for depreciation 21,436 -------- 182,430 Construction work in progress - -------- 182,430 -------- INVESTMENTS: Other 20,426 -------- 20,426 -------- DEFERRED CHARGES: Goodwill 67 Other 3,005 -------- 3,072 -------- TOTAL ASSETS $ 294,001 ======== LIABILITIES & STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Currently payable long-term debt $ 3,299 Notes payable to associated companies 7,987 Accounts payable Other 429 Associated companies 5,825 Accrued taxes 6,506 Accrued interest 2,925 Other 5,217 -------- 32,188 -------- CAPITALIZATION: Common stockholder's equity 115,342 Long-term debt 137,732 -------- 253,074 -------- DEFERRED CREDITS: Accumulated deferred income taxes 3,776 Other 4,963 -------- 8,739 -------- TOTAL LIABILITIES & CAPITALIZATION $ 294,001 ======== Exhibit 1-1 FIRSTENERGY VENTURES CORP. Consolidated Statement of Operations (Unaudited) ------------------------------------------------ (In Thousands) Three Months Twelve Months Ended Ended Dec. 31, 2003 Dec. 31, 2003 ------------- ------------- REVENUES $ 38,482 $ 59,651 EXPENSES: Other operating expenses 7,419 22,387 Provision for depreciation and amortization 2,856 11,346 General taxes 11 217 ------- ------- Total expenses 10,286 33,950 ------- ------- INCOME BEFORE INTEREST & INCOME TAXES 28,196 25,701 NET INTEREST CHARGES: Interest expenses 2,316 9,284 Capitalized interest 36 12 ------- ------- Net interest charges 2,352 9,296 ------- ------- INCOME TAXES 10,833 8,061 ------- ------- NET INCOME $ 15,011 $ 8,344 ======= =======