EX-99.1 3 ex1-2.htm FE FACILITIES SERVICES GROUP CONSOLIDATED BALANCE SHEET & STMT. OF OPERATIONS FE Facilities Services Group Consolidated Balance Sheet & Stmt. of Operations
Exhibit 1-2

FIRSTENERGY FACILITIES SERVICES GROUP, LLC
Consolidated Balance Sheet (Unaudited)
                          December 31, 2004                          
(In Thousands)


ASSETS
     
       
CURRENT ASSETS:
       
Cash and cash equivalents
 
$
8,410
 
Receivables:
       
Associated companies
   
418
 
Other
   
95,032
 
Material and supplies
   
6,957
 
Prepayments and other
   
3,402
 
     
114,219
 
         
INVESTMENTS:
       
Nonutility property, net
   
20,722
 
Other
   
773
 
     
21,495
 
         
DEFERRED CHARGES:
       
Goodwill
   
-
 
Accumulated deferred income tax benefits
   
38,843
 
Other
   
-
 
     
38,843
 
         
TOTAL ASSETS
 
$
174,557
 
         
         
LIABILITIES & CAPITALIZATION
       
         
CURRENT LIABILITIES:
       
Currently payable long-term debt
 
$
500
 
Short-term borrowings
   
-
 
Notes payable to associated companies
   
8,877
 
Notes payable other
   
3,481
 
Accounts payable
       
Other
   
45,314
 
Associated companies
   
95
 
Accrued taxes
   
2,573
 
Other
   
16,123
 
     
76,963
 
         
CAPITALIZATION:
       
Common stockholder’s equity
   
90,753
 
Long-term debt
   
6,841
 
     
97,594
 
         
         
TOTAL LIABILITIES & CAPITALIZATION
 
$
174,557
 
 

 
Exhibit 1-2


FIRSTENERGY FACILITIES SERVICES GROUP, LLC
Consolidated Statement of Operations (Unaudited)
(In Thousands)


   
Three Months
 
Twelve Months
 
   
Ended
 
Ended
 
   
Dec. 31, 2004
 
Dec. 31, 2004
 
               
Revenues
 
$
107,435
 
$
396,498
 
               
Cost of revenues
   
95,809
   
352,772
 
               
Gross margin
   
11,626
   
43,726
 
               
Selling, general and administrative expenses
   
10,812
   
37,521
 
Depreciation
   
1,143
   
4,645
 
     
(329
)
 
1,560
 
               
Goodwill impairment
   
47,439
   
47,439
 
Purchase agreement incentive plans
   
34
   
134
 
               
Operating loss
   
(47,802
)
 
(46,013
)
               
Interest income
   
130
   
284
 
Interest expense
   
(340
)
 
(1,054
)
Gain on sale of fixed assets
   
379
   
896
 
Other income/(expense), net
   
36
   
265
 
Total other income
   
205
   
391
 
               
Loss before income taxes
   
(47,597
)
 
(45,622
)
               
Income taxes benefits
   
(10,129
)
 
(9,631
)
               
Net loss
 
$
(37,468
)
$
(35,991
)