U-3A-2 1 u3a2_2002.txt FORM U-3A-2 FOR 2002 File No. 1-15995 United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM U-3A-2 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . UIL HOLDINGS CORPORATION 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. 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. UIL Holdings Corporation ("UIL Holdings") was incorporated under the laws of the State of Connecticut and is a holding company organized to acquire and hold the securities of other corporations. UI was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of UIL Holdings. UI is an operating electric public utility engaged in the production, purchase, transmission, distribution and sale of electricity for residential, commercial and industrial purposes in a service area of about 335 square miles in the southwestern part of the State of Connecticut. United Resources, Inc. ("URI") was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of UIL Holdings. URI serves as the parent corporation for several non-utility businesses, each of which is incorporated separately in Connecticut. A. American Payment Systems, Inc. ("APS") was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of URI. APS provides electronic bill payment services to companies throughout the United States. APS recruits and manages retailers to provide this service to the companies' customers who prefer to pay their bills in person. 1. APS Card Services, Inc. ("CSI") was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of APS. CSI markets a prepaid stored value card. 2. Cell Cards of Illinois, LLC. ("CCI") was incorporated under the laws of the State of Illinois and is a 51% majority owned subsidiary of APS. CCI sells prepaid long distance telephone service, prepaid telephone calling cards, and prepaid wireless telephone service. B. Xcelecom, Inc. ("Xcelecom") was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of URI. Xcelecom serves as the parent corporation for several corporations that provide specialized services in the electrical, communications and data network infrastructure industries. 1. Precision Power, Inc. was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of Xcelecom. Precision Power was engaged in electrical construction and related services for larger commercial, industrial and institutional customers in Connecticut. As of the end of 2000, the operations of Precision Power were combined with those of McPhee Electric LTD, LLC, another Xcelecom Connecticut based subsidiary. 2. Allan Electric, Inc. was incorporated under the laws of the State of New Jersey and is a wholly-owned subsidiary of Xcelecom. Allan Electric is engaged in electrical construction, intelligent highway system deployment and related services for larger commercial, industrial, governmental and institutional customers in New Jersey. 3. The DataStore, Inc. was incorporated under the laws of the State of New Jersey and is a wholly-owned subsidiary of Xcelecom. The DataStore is engaged in data and communications network infrastructure design, installation and services for commercial, industrial, governmental and institutional customers in New Jersey, Delaware and Pennsylvania. 4. Orlando Diefenderfer Electrical Contractor, Inc. ("ODE") was incorporated under the laws of the State of Pennsylvania and is a wholly-owned subsidiary of Xcelecom. ODE is engaged in electrical construction and related services for larger commercial, industrial, governmental and institutional customers in Pennsylvania. 5. JBL Electric, Inc. was incorporated under the laws of the State of New Jersey and is a wholly-owned subsidiary of Allan Electric. JBL Electric is primarily engaged in the construction and installation of cellular towers and large satellite communications systems throughout the states of New Jersey, Delaware, New York and Connecticut. 6. Johnson Electric, Inc. was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of Xcelecom. Johnson Electric is engaged in electrical construction and related services for larger commercial, industrial, governmental and institutional customers in Connecticut. 2 7. McPhee Electric LTD, LLC was incorporated under the limited liability corporation laws of the State of Connecticut and is a wholly-owned subsidiary of Xcelecom. McPhee is engaged in electrical construction and related services for larger commercial, industrial, governmental and institutional customers in Connecticut, Rhode Island, Massachusetts and other New England states. 8. Thermal Energies, Inc. ("TEI") was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of Xcelecom. TEI owns and operates a central heating and cooling plant in one of New Haven, Connecticut's largest commercial office buildings. In addition, TEI holds a 52% ownership share in the Government Center Thermal Energy Partnership (the "Partnership"). The Partnership operates a district heating and cooling facility that serves the City Hall and Hall of Records of the City of New Haven and the adjacent Connecticut Financial Center building. 9. Brite-Way Electric, Inc., was incorporated under the laws of the State of New Jersey and is a wholly-owned subsidiary of Xcelecom, Inc. Brite-Way Electric is engaged in electrical construction for larger commercial, industrial, governmental and institutional customers in New Jersey. 10. J. E. Richards, Inc., was incorporated under the laws of the State of Maryland and is a wholly-owned subsidiary of Xcelecom, Inc. J. E. Richards is engaged in electrical construction for larger commercial, industrial, governmental and institutional customers in Maryland and the Greater Washington, D.C. area. 11. M. J. Daly & Sons, Inc. was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of Xcelecom, Inc. M. J. Daly & Sons is engaged in mechanical construction and fire protection services for commercial, industrial, governmental and institutional customers in Connecticut and Massachusetts. 12. 4-Front Systems, Inc., was incorporated under the laws of the State of North Carolina and is a wholly-owned subsidiary of Xcelecom, Inc. 4-Front Systems, Inc., is engaged in data and communications network infrastructure design, installation and services for commercial, governmental and institutional customers in North Carolina. 13. Terry's Electric Incorporated was incorporated under the laws of the State of Florida and is a wholly-owned subsidiary of Xcelecom. Terry's Electric is engaged in electrical construction and related services for larger commercial, industrial, governmental and institutional customers in Florida, Georgia, Texas, Oklahoma and North Carolina. C. United Capital Investments, Inc. ("UCI") was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of URI. UCI participates in non-utility business ventures that complement UI's electric transmission and distribution business. 1. Souwestcon Properties, Inc. ("Souwestcon") was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of UCI. Souwestcon is engaged in a real estate development project located in North Haven, Connecticut. 3 D. United Bridgeport Energy, Inc. ("UBE") was incorporated under the laws of the State of Connecticut and is a wholly-owned subsidiary of URI. UBE is participating in the ownership of an Exempt Wholesale Generator ("EWG") merchant wholesale electric generating facility located in Bridgeport, Connecticut. 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. UIL Holdings does not directly own any property used for the generation, transmission and distribution of electric energy for sale, or for the production, transmission and distribution of natural or manufactured gas. UI owns and operates an electric transmission system consisting of 102 circuit miles of overhead lines and approximately 17 circuit miles of underground lines, all operated at 345 KV or 115 KV and located within or immediately adjacent to the territory served by UI in the southwestern part of the State of Connecticut. These transmission lines interconnect electric generation facilities and are part of the New England transmission grid through connections with the transmission lines of The Connecticut Light and Power Company. A major portion of UI's transmission lines is constructed on a railroad right-of-way of the Connecticut Department of Transportation pursuant to two Transmission Line Agreements. One of the agreements expired in May 2000. Currently UI is negotiating a new agreement. The other agreement has been extended to May 2040. UI owns and operates 25 bulk electric supply substations with a capacity of 1,784,170 KVA and 27 distribution substations with a capacity of 132,270 KVA. UI has 3,233 pole-line miles of overhead distribution lines and 130 conduit-bank miles of underground distribution lines. All of these facilities are located within the State of Connecticut. 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. ELECTRICITY GAS ----------- --- UIL Holdings None None UI 7,593,541,000 None 4 (b) Number of kWh. of electric energy and Mcf. of natural or manufactured gas distributed at retail outside the State in which each such company is organized. ELECTRICITY GAS ----------- --- UIL Holdings None None UI None 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. ELECTRICITY GAS ----------- --- UIL Holdings None None UI 1,812,531,000 None (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. ELECTRICITY GAS ----------- --- UIL Holdings None None UI 5,781,010,000 None 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. Bridgeport Energy LLC, 10 Atlantic Street, Bridgeport, Connecticut 06604. This facility is a 520 MW combined-cycle generator. (b) Name of each system company that holds an interest in such EWG or foreign utility company; and description of the interest held. United Bridgeport Energy, Inc. ("UBE"), a wholly-owned subsidiary of URI, holds a 33.33% ownership interest in Bridgeport Energy LLC, the owner and operator of the facility. (c) Type and amount of capital invested, directly or indirectly, by the holding company claiming exemption; any direct or indirect guarantee of any security of the EWG or foreign utility company by the holding company claiming exemption; and any debt or other 5 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. The capital invested by UBE in the EWG is approximately $78,232,000, of which approximately $54,162,000 is debt and approximately $24,070,000 is equity. Neither UIL Holdings nor any direct or indirect subsidiary of UIL Holdings has signed any direct or indirect guarantee of the security of the EWG. There is no direct or indirect recourse to UIL Holdings or any other system company for any financial obligation of the EWG. (d) Capitalization and earnings of the EWG or foreign utility company during the reporting period. The capitalization of the EWG on December 31, 2002 was approximately $237,661,000; the earnings of the EWG during the fiscal period ending December 31, 2002 were approximately $8,703,000. (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). None 6 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, 2003. UIL HOLDINGS CORPORATION By: /s/ Louis J. Paglia ----------------------------------- Louis J. Paglia Executive Vice President and Chief Financial Officer (Corporate seal) Attest: /s/ Susan E. Allen -------------------------- Susan E. Allen Secretary Name, title and address of officer to whom notices and correspondences concerning this statement should be addressed: Louis J. Paglia Executive Vice President Chief Financial Officer 157 Church Street New Haven, Connecticut 06510 7 EXHIBIT A See attached 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. UIL HOLDINGS CORPORATION CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2002 THOUSANDS OF DOLLARS
The United UIL United Illuminating Company Holdings Resources, Inc. -------------------- ------------------- --------------- OPERATING REVENUES Utility $727,533 $ - $ - Non-utility businesses - - 19 ------------------- ------------------- -------------- Total Operating Revenues 727,533 - 19 ------------------- ------------------- -------------- OPERATING EXPENSES Operation Fuel and energy 269,195 - - Operation and maintenance 200,530 28 2,532 Depreciation and amortization 88,115 - - Taxes - other than income taxes 44,488 - - ------------------- ------------------- -------------- Total 602,328 28 2,532 ------------------- ------------------- -------------- OPERATING INCOME(LOSS) 125,205 (28) (2,513) ------------------- ------------------- -------------- OTHER INCOME AND (DEDUCTIONS) 3,744 51,260 50 ------------------- ------------------- -------------- INCOME (LOSS) BEFORE INTEREST CHARGES AND INCOME TAXES 128,949 51,232 (2,463) ------------------- ------------------- -------------- INTEREST CHARGES, NET Interest on long-term debt 35,092 5,490 - Interest on Seabrook obligation bonds owned by UI (5,122) - - Other interest 145 1,751 4,601 ------------------- ------------------- -------------- 30,115 7,241 4,601 Amortization of debt expense and redemption premiums 1,969 ------------------- ------------------- -------------- Interest Charges, net 32,084 7,241 4,601 ------------------- ------------------- -------------- INCOME (LOSS) BEFORE INCOME TAXES 96,865 43,991 (7,064) ------------------- ------------------- -------------- INCOME TAXES 42,921 44 (2,817) ------------------- ------------------- -------------- NET INCOME (LOSS) $53,944 $43,947 $(4,247) =================== =================== ==============
American United Payment United Capital Bridgeport Souwestcon Systems, Inc. Investments, Inc. Energy Inc. Properties, Inc. ------------------- ------------------- -------------- ----------------- OPERATING REVENUES Utility $ - $ - $ - $ - Non-utility businesses 93,699 - - - ------------------- ------------------- -------------- ----------------- Total Operating Revenues 93,699 - - - ------------------- ------------------- -------------- ----------------- OPERATING EXPENSES Operation Fuel and energy - - - - Operation and maintenance 92,810 555 102 221 Depreciation and amortization 3,562 - - - Taxes - other than income taxes 702 36 3 13 ------------------- ------------------- -------------- ----------------- Total 97,074 591 105 234 ------------------- ------------------- -------------- ----------------- OPERATING INCOME(LOSS) (3,375) (591) (105) (234) ------------------- ------------------- -------------- ----------------- OTHER INCOME AND (DEDUCTIONS) 455 (6,210) 918 (350) ------------------- ------------------- -------------- ----------------- INCOME (LOSS) BEFORE INTEREST CHARGES AND INCOME TAXES (2,920) (6,801) 813 (584) ------------------- ------------------- -------------- ----------------- INTEREST CHARGES, NET Interest on long-term debt - - - - Interest on Seabrook obligation bonds owned by UI - - - - Other interest 99 3 2,491 - ------------------- ------------------- -------------- ----------------- 99 3 2,491 - Amortization of debt expense and redemption premiums ------------------- ------------------- -------------- ----------------- Interest Charges, net 99 3 2,491 - ------------------- ------------------- -------------- ----------------- INCOME (LOSS) BEFORE INCOME TAXES (3,019) (6,804) (1,678) (584) ------------------- ------------------- -------------- ----------------- INCOME TAXES (1,215) (2,713) (669) (233) ------------------- ------------------- -------------- ----------------- NET INCOME (LOSS) $(1,804) $(4,091) $(1,009) $(351) =================== =================== ============== =================
Consolidated UIL Xcelecom, Inc. Eliminations Consolidated ------------------- ------------------- -------------- OPERATING REVENUES Utility $ - $ - $ 727,533 Non-utility businesses 310,044 (273) 403,489 ------------------- ------------------- -------------- Total Operating Revenues 310,044 (273) 1,131,022 ------------------- ------------------- -------------- OPERATING EXPENSES Operation Fuel and energy - - 269,195 Operation and maintenance 301,195 (273) 597,700 Depreciation and amortization 4,452 - 96,129 Taxes - other than income taxes 1,430 - 46,672 ------------------- ------------------- -------------- Total 307,077 (273) 1,009,696 ------------------- ------------------- -------------- OPERATING INCOME(LOSS) 2,967 - 121,326 ------------------- ------------------- -------------- OTHER INCOME AND (DEDUCTIONS) 732 (52,470) (1,871) ------------------- ------------------- -------------- INCOME (LOSS) BEFORE INTEREST CHARGES AND INCOME TAXES 3,699 (52,470) 119,455 ------------------- ------------------- -------------- INTEREST CHARGES, NET Interest on long-term debt - - 40,582 Interest on Seabrook obligation bonds owned by UI - - (5,122) Other interest 1,314 (8,588) 1,816 ------------------- ------------------- -------------- 1,314 (8,588) 37,276 Amortization of debt expense and redemption premiums - - 1,969 ------------------- ------------------- -------------- Interest Charges, net 1,314 (8,588) 39,245 ------------------- ------------------- -------------- INCOME (LOSS) BEFORE INCOME TAXES 2,385 (43,882) 80,210 ------------------- ------------------- -------------- INCOME TAXES 945 - 36,263 ------------------- ------------------- -------------- NET INCOME (LOSS) $1,440 $(43,882) $43,947 =================== =================== ==============
XCELECOM, INC. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2002 THOUSANDS OF DOLLARS
Thermal Precision Xcelecom Energies, Inc Power, Inc. Brite Way, Inc Inc. -------------- ------------ --------------- ------------ OPERATING REVENUES Utility $ - $ - $ - $ - Non-utility businesses 1,977 - 12,426 - -------------- ------------ --------------- ------------ Total Operating Revenues 1,977 - 12,426 - -------------- ------------ --------------- ------------ OPERATING EXPENSES Operation Fuel and energy Operation and maintenance 1,078 - 11,858 1,189 Depreciation and amortization 297 - 61 281 Taxes - other than income taxes 1 - 8 107 -------------- ------------ --------------- ------------ Total 1,376 - 11,927 1,577 -------------- ------------ --------------- ------------ OPERATING INCOME(LOSS) 601 - 499 (1,577) -------------- ------------ --------------- ------------ OTHER INCOME AND (DEDUCTIONS) (104) 28 2 122 -------------- ------------ --------------- ------------ INCOME (LOSS) BEFORE INTEREST CHARGES AND INCOME TAXES 497 28 501 (1,455) -------------- ------------ --------------- ------------ INTEREST CHARGES, NET Interest on long-term debt - - - - Interest on Seabrook obligation bonds owned by UI - - - - Other interest 221 29 30 -------------- ------------ --------------- ------------ 221 - 29 30 Amortization of debt expense and redemption premiums - - - - -------------- ------------ --------------- ------------ Interest Charges, net 221 - 29 30 -------------- ------------ --------------- ------------ INCOME (LOSS) BEFORE INCOME TAXES 276 28 472 (1,485) -------------- ------------ --------------- ------------ INCOME TAXES 110 11 193 (592) -------------- ------------ --------------- ------------ NET INCOME (LOSS) $166 $17 $279 $(893) ============== ============ =============== ============
Orlando Johnson Data Diefenderfer, Allan Electric, Inc. Store, Inc. Inc. Electric, Inc. -------------- ------------ --------------- -------------- OPERATING REVENUES Utility $ - $ - $ - $ - Non-utility businesses 7,971 17,961 49,858 40,152 -------------- ------------ --------------- ------------ Total Operating Revenues 7,971 17,961 49,858 40,152 -------------- ------------ --------------- ------------ OPERATING EXPENSES Operation Fuel and energy Operation and maintenance 12,374 17,846 48,953 39,333 Depreciation and amortization 158 165 444 330 Taxes - other than income taxes 67 101 214 56 -------------- ------------ --------------- ------------ Total 12,599 18,112 49,611 39,719 -------------- ------------ --------------- ------------ OPERATING INCOME(LOSS) (4,628) (151) 247 433 -------------- ------------ --------------- ------------ OTHER INCOME AND (DEDUCTIONS) - 25 150 145 -------------- ------------ --------------- ------------ INCOME (LOSS) BEFORE INTEREST CHARGES AND INCOME TAXES (4,628) (126) 397 578 -------------- ------------ --------------- ------------ INTEREST CHARGES, NET Interest on long-term debt - - - - Interest on Seabrook obligation bonds owned by UI - - - - Other interest 41 40 177 186 -------------- ------------ --------------- ------------ 41 40 177 186 Amortization of debt expense and redemption premiums - - - - -------------- ------------ --------------- ------------ Interest Charges, net 41 40 177 186 -------------- ------------ --------------- ------------ INCOME (LOSS) BEFORE INCOME TAXES (4,669) (166) 220 392 -------------- ------------ --------------- ------------ INCOME TAXES (1,862) (68) 91 160 -------------- ------------ --------------- ------------ NET INCOME (LOSS) $(2,807) $(98) $129 $232 ============== ============ =============== ============
JBL McPhee 4 Front Electric, Inc. Electric, Inc. Systems, Inc. M J Daly, Inc. -------------- ------------ --------------- -------------- OPERATING REVENUES Utility $ - $ - $ - $ - Non-utility businesses 7,899 61,935 13,599 26,300 -------------- ------------ --------------- ------------ Total Operating Revenues 7,899 61,935 13,599 26,300 -------------- ------------ --------------- ------------ OPERATING EXPENSES Operation Fuel and energy Operation and maintenance 7,304 54,839 13,970 26,097 Depreciation and amortization 282 853 147 270 Taxes - other than income taxes 6 182 153 102 -------------- ------------ --------------- ------------ Total 7,592 55,874 14,270 26,469 -------------- ------------ --------------- ------------ OPERATING INCOME(LOSS) 307 6,061 (671) (169) -------------- ------------ --------------- ------------ OTHER INCOME AND (DEDUCTIONS) 5 130 32 5 -------------- ------------ --------------- ------------ INCOME (LOSS) BEFORE INTEREST CHARGES AND INCOME TAXES 312 6,191 (639) (164) -------------- ------------ --------------- ------------ INTEREST CHARGES, NET Interest on long-term debt - - - - Interest on Seabrook obligation bonds owned by UI - - - - Other interest 79 149 49 56 -------------- ------------ --------------- ------------ 79 149 49 56 Amortization of debt expense and redemption premiums - - - - -------------- ------------ --------------- ------------ Interest Charges, net 79 149 49 56 -------------- ------------ --------------- ------------ INCOME (LOSS) BEFORE INCOME TAXES 233 6,042 (688) (220) -------------- ------------ --------------- ------------ INCOME TAXES 95 2,409 (272) (88) -------------- ------------ --------------- ------------ NET INCOME (LOSS) $138 $3,633 $(416) $(132) ============== ============ =============== ============
J E Richards, Xcelecom Inc. Terry Electric Consolidated -------------- -------------- --------------- OPERATING REVENUES Utility $ - $ - $ - Non-utility businesses 32,432 37,534 310,044 -------------- ------------ --------------- Total Operating Revenues 32,432 37,534 310,044 -------------- ------------ --------------- OPERATING EXPENSES Operation Fuel and energy - - - Operation and maintenance 30,988 35,366 301,195 Depreciation and amortization 277 887 4,452 Taxes - other than income taxes 154 279 1,430 -------------- ------------ --------------- Total 31,419 36,532 307,077 -------------- ------------ --------------- OPERATING INCOME(LOSS) 1,013 1,002 2,967 -------------- ------------ --------------- OTHER INCOME AND (DEDUCTIONS) 118 74 732 -------------- ------------ --------------- INCOME (LOSS) BEFORE INTEREST CHARGES AND INCOME TAXES 1,131 1,076 3,699 -------------- ------------ --------------- INTEREST CHARGES, NET Interest on long-term debt - - - Interest on Seabrook obligation bonds owned by UI - - - Other interest 35 222 1,314 -------------- ------------ --------------- 35 222 1,314 Amortization of debt expense and redemption premiums - - - -------------- ------------ --------------- Interest Charges, net 35 222 1,314 -------------- ------------ --------------- INCOME (LOSS) BEFORE INCOME TAXES 1,096 854 2,385 -------------- ------------ --------------- INCOME TAXES 437 321 945 -------------- ------------ --------------- NET INCOME (LOSS) $659 $533 $1,440 ============== ============ ===============
UIL HOLDINGS CORPORATION CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2002 THOUSANDS OF DOLLARS ASSETS
The United United Illuminating Resources Company UIL Holdings Inc. ------------------- ------------ --------------- Current Assets Unrestricted cash and temporary cash investments $ 9,245 $ 10 $ 469 Restricted cash 5,588 - - Utility accounts receivable, less allowance of $1,654 58,171 - - Other accounts receivable, less allowance of $1,522 32,288 77,191 3,656 Accounts receivable - APS settlement assets - - - Unbilled revenues 25,763 - - Materials and supplies, at average cost 1,745 - - Prepayments 1,973 - - Other - - - ------------------- ------------ --------------- Total 134,773 77,201 4,125 ------------------- ------------ --------------- Other Property and Investments Investment in United Bridgeport Energy facility - - - Nuclear decommissioning trust fund assets - - - Marketable securities - - - Investment in debt securities 25,000 - - Other 3,549 384,884 256,760 ------------------- ------------ --------------- Total 28,549 384,884 256,760 ------------------- ------------ --------------- Property, Plant and Equipment at original cost In service 696,981 - - Less, accumulated depreciation 250,778 - - ------------------- ------------ --------------- 446,203 - - Construction work in progress 49,411 - - ------------------- ------------ --------------- Net Property, Plant and Equipment 495,614 - - ------------------- ------------ --------------- Regulatory Assets Nuclear plant investments-above market 456,950 - - Income taxes due principally to book-tax differences 69,115 - - Long-term purchase power contracts - above market 100,379 - - Connecticut Yankee 33,821 - - Unamortized redemption costs 18,245 - - Other 40,804 - - ------------------- ------------ --------------- Total 719,314 - - ------------------- ------------ --------------- Deferred Charges Goodwill - - - Unamortized debt issuance expenses 3,875 634 - Long term accounts receivable 10,766 - - Other 10,391 - - ------------------- ------------ --------------- Total 25,032 634 - ------------------- ------------ --------------- Total Assets $1,403,282 $462,719 $260,885 =================== ============ ===============
American United Capital United Payment Investments, Bridgeport Systems, Inc. Inc. Energy, Inc. ------------------- ------------ --------------- Current Assets Unrestricted cash and temporary cash investments $ 1,658 $ 75 $ 89 Restricted cash 40,451 - - Utility accounts receivable, less allowance of $1,654 - - - Other accounts receivable, less allowance of $1,522 8,509 97 1,193 Accounts receivable - APS settlement assets 44,770 - - Unbilled revenues - - - Materials and supplies, at average cost 2,170 - - Prepayments 375 - - Other 10 - - ------------------- ------------ --------------- Total 97,943 172 1,282 ------------------- ------------ --------------- Other Property and Investments Investment in United Bridgeport Energy facility - - 83,677 Nuclear decommissioning trust fund assets - - - Marketable securities - - - Other - 9,877 - ------------------- ------------ --------------- Total - 9,877 83,677 ------------------- ------------ --------------- Property, Plant and Equipment at original cost In service 27,414 - - Less, accumulated depreciation 18,464 - - ------------------- ------------ --------------- 8,950 - - Construction work in progress - - - ------------------- ------------ --------------- Net Property, Plant and Equipment 8,950 - - ------------------- ------------ --------------- Regulatory Assets Nuclear plant investments-above market - - - Income taxes due principally to book-tax differences - - - Long-term purchase power contracts - above market - - - Connecticut Yankee - - - Unamortized redemption costs - - - Other - - - ------------------- ------------ --------------- Total - - - ------------------- ------------ --------------- Deferred Charges Goodwill 9,136 - - Unamortized debt issuance expenses - - - Long term accounts receivable - - - Other 7,008 - - ------------------- ------------ --------------- Total 16,144 - - ------------------- ------------ --------------- Total Assets $123,037 $10,049 $84,959 =================== ============ ===============
Souwestcon Xcelcom UIL Properties, Inc. Consolidated Eliminations Consolidated ------------------- ------------------------------ ----------------- Current Assets Unrestricted cash and temporary cash investments $ - $ 9,022 $ - $ 20,568 Restricted cash - 391 - 46,430 Utility accounts receivable, less allowance of $1,654 - - - 58,171 Other accounts receivable, less allowance of $1,522 10 79,895 (108,678) 94,161 Accounts receivable - APS settlement assets - - - 44,770 Unbilled revenues 3 12,637 - 38,403 Materials and supplies, at average cost - 2,288 - 6,203 Prepayments - - - 2,348 Other - 1,095 - 1,105 ------------------- ------------ --------------- ----------------- Total 13 105,328 (108,678) 312,159 ------------------- ------------ --------------- ----------------- Other Property and Investments Investment in United Bridgeport Energy facility - - - 83,677 Nuclear decommissioning trust fund assets - - - - Marketable securities - - - - Investment in debt securities - - - 25,000 Other - 25 (641,645) 13,450 ------------------- ------------ --------------- ----------------- Total - 25 (641,645) 122,127 ------------------- ------------ --------------- ----------------- Property, Plant and Equipment at original cost In service 850 30,036 - 755,281 Less, accumulated depreciation - 18,368 - 287,610 ------------------- ------------ --------------- ----------------- 850 11,668 - 467,671 Construction work in progress - - - 49,411 ------------------- ------------ --------------- ----------------- Net Property, Plant and Equipment 850 11,668 - 517,082 ------------------- ------------ --------------- ----------------- Regulatory Assets Nuclear plant investments-above market - - - 456,950 Income taxes due principally to book-tax differences - - - 69,115 Long-term purchase power contracts - above market - - - 100,379 Connecticut Yankee - - - 33,821 Unamortized redemption costs - - - 18,245 Other - - - 40,804 ------------------- ------------ --------------- ----------------- Total - - - 719,314 ------------------- ------------ --------------- ----------------- Deferred Charges Goodwill - 66,957 - 76,093 Unamortized debt issuance expenses - - - 4,509 Long term accounts receivable - - - 10,766 Other - 11,743 (10,381) 18,761 ------------------- ------------ --------------- ----------------- Total - 78,700 (10,381) 110,129 ------------------- ------------ --------------- ----------------- Total Assets $863 $195,721 $(760,704) $1,780,811 =================== ============ =============== =================
UIL HOLDINGS CORPORATION CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2002 THOUSANDS OF DOLLARS LIABILITIES AND CAPITALIZATION
The United United Illuminating Resources Company UIL Holdings Inc. ------------------- ------------- ---------------- Current Liabilities Notes payable $ - $ 65,660 $ 56,005 Current portion of long-term debt 100,000 - - Accounts payable 42,268 663 898 Accounts payable -APS Settlements - - - Dividends payable 20,000 10,275 - Accrued liabilities 41,984 (1) - Deferred revenues-nonutility businesses - - - Taxes accrued 6,655 141 (592) Interest accrued 5,151 2,093 - Obligations under capital leases 473 - - ------------------- ------------- ---------------- Total 216,531 78,831 56,311 ------------------- ------------- ---------------- Noncurrent Liabilities Purchase power contract obligation 100,379 - - Pension accrued 44,857 - - Nuclear decommissioning obligation - - - Connecticut Yankee contract obligation 28,442 - - Long-term notes payable - - - Obligations under capital leases 14,815 - - Other 13,683 - - ------------------- ------------- ---------------- Total 202,176 - - ------------------- ------------- ---------------- Deferred Income Taxes 225,714 - - ------------------- ------------- ---------------- Regulatory Liabilities Accumulated deferred investment tax credits 13,201 - - Deferred gains on sale of property 33,130 - - Customer refund 6,820 - - Other 10,615 - - Commitments and contingencies - - - ------------------- ------------- ---------------- Total 63,766 - - ------------------- ------------- ---------------- Capitalization Long-term debt Long-term debt 320,432 75,000 10,382 Investment in Seabrook obligation bonds - - - ------------------- ------------- ---------------- Net long-term debt 320,432 75,000 10,382 ------------------- ------------- ---------------- Common stock equity Common stock 1 296,501 1 Paid-in capital 253,137 3,749 213,028 Other comprehensive income (26,694) - - Unrealized gain on investment - - - Capital stock expense - (2,170) - Unearned employee stock ownership plan equity - (6,411) - Retained earnings 148,219 17,219 (18,837) ------------------- ------------- ---------------- 374,663 308,888 194,192 ------------------- ------------- ---------------- Total Capitalization 695,095 383,888 204,574 ------------------- ------------- ---------------- Total Liabilities and Capitalization $1,403,282 $462,719 $260,885 =================== ============= ================
American United Capital United Payment Investments, Bridgeport Systems, Inc. Inc. Energy, Inc. ------------------- ------------- ---------------- Current Liabilities Notes payable $ 3,260 $ - $ - Current portion of long-term debt - - - Accounts payable (176) 1,200 3,684 Accounts payable -APS Settlements 82,659 - - Dividends payable - - - Accrued liabilities 10,533 - - Deferred revenues-nonutility businesses - - - Taxes accrued (782) 165 1,217 Interest accrued - - - Obligations under capital leases - - - ------------------- ------------- ---------------- Total 95,494 1,365 4,901 ------------------- ------------- ---------------- Noncurrent Liabilities Purchase power contract obligation - - - Pension accrued - - - Nuclear decommissioning obligation - - - Connecticut Yankee contract obligation - - - Long-term notes payable - - 54,162 Obligations under capital leases - - - Other 84 - - ------------------- ------------- ---------------- Total 84 - 54,162 ------------------- ------------- ---------------- Deferred Income Taxes (25) (1,086) - ------------------- ------------- ---------------- Regulatory Liabilities Accumulated deferred investment tax credits - - - Deferred gains on sale of property - - - Customer refund - - - Other - - - Commitments and contingencies - - - ------------------- ------------- ---------------- Total - - - ------------------- ------------- ---------------- Capitalization Long-term debt Long-term debt - - - Investment in Seabrook obligation bonds - - - ------------------- ------------- ---------------- Net long-term debt - - - ------------------- ------------- ---------------- Common stock equity Common stock 1 - 1 Paid-in capital 35,008 17,187 24,069 Other comprehensive income - - - Unrealized gain on investment - - - Capital stock expense - - - Unearned employee stock ownership plan equity - - - Retained earnings (7,525) (7,417) 1,826 ------------------- ------------- ---------------- 27,484 9,770 25,896 ------------------- ------------- ---------------- Total Capitalization 27,484 9,770 25,896 ------------------- ------------- ---------------- Total Liabilities and Capitalization $123,037 $10,049 $84,959 =================== ============= ================
Souwestcon Xcelecom UIL Properties, Inc. Consolidated Eliminations Consolidated ------------------- ------------- ---------------- ------------------ Current Liabilities Notes payable $ - $ 4,055 $ (82,665) $ 46,315 Current portion of long-term debt - - - 100,000 Accounts payable 149 1,334 (6,013) 44,007 Accounts payable -APS Settlements - - - 82,659 Dividends payable - - (20,000) 10,275 Accrued liabilities - 20,421 (214) 72,723 Deferred revenues-nonutility businesses - 25,553 - 25,553 Taxes accrued (225) 735 - 7,314 Interest accrued - - 213 7,457 Obligations under capital leases - - - 473 ------------------- ------------- ---------------- ------------------ Total (76) 52,098 (108,679) 396,776 ------------------- ------------- ---------------- ------------------ Noncurrent Liabilities Purchase power contract obligation - - - 100,379 Pension accrued - - - 44,857 Nuclear decommissioning obligation - - - - Connecticut Yankee contract obligation - - - 28,442 Long-term notes payable - 14,409 (54,163) 14,408 Obligations under capital leases - - - 14,815 Other - (87) - 13,680 ------------------- ------------- ---------------- ------------------ Total - 14,322 (54,163) 216,581 ------------------- ------------- ---------------- ------------------ Deferred Income Taxes - 1,301 - 225,904 ------------------- ------------- ---------------- ------------------ Regulatory Liabilities Accumulated deferred investment tax credits - - - 13,201 Deferred gains on sale of property - - - 33,130 Customer refund - - - 6,820 Other - - - 10,615 Commitments and contingencies - - - - ------------------- ------------- ---------------- ------------------ Total - - - 63,766 ------------------- ------------- ---------------- ------------------ Capitalization Long-term debt Long-term debt - - (10,382) 395,432 Investment in Seabrook obligation bonds - - - - ------------------- ------------- ---------------- ------------------ Net long-term debt - - (10,382) 395,432 ------------------- ------------- ---------------- ------------------ Common stock equity Common stock - 2 (6) 296,501 Paid-in capital 1,360 124,969 (668,758) 3,749 Other comprehensive income - - - (26,694) Unrealized gain on investment - - - - Capital stock expense - - - (2,170) Unearned employee stock ownership plan equity - - - (6,411) Retained earnings (421) 3,029 81,284 217,377 ------------------- ------------- ---------------- ------------------ 939 128,000 (587,480) 482,352 ------------------- ------------- ---------------- ------------------ Total Capitalization 939 128,000 (597,862) 877,784 ------------------- ------------- ---------------- ------------------ Total Liabilities and Capitalization $863 $195,721 $(760,704) $ 1,780,811 =================== ============= ================ ==================
XCELECOM, INC. CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2002 THOUSANDS OF DOLLARS ASSETS
Thermal Energies, Precision Xcelecom Inc. Power, Inc. Brite Way Inc. Inc. ------------ ----------- -------------- ----------- Current Assets Unrestricted cash and temporary cash investments $ 419 $ - $ - $ 1 Restricted cash 200 - - - Utility accounts receivable, less allowance of $1,654 - - - - Other accounts receivable, less allowance of $1,522 875 1,393 4,658 23,547 Accounts receivable - APS settlement assets - - - - Unbilled revenues - - 270 - Materials and supplies, at average cost - - 57 - Prepayments - - - - Other 5 - - 475 ------------ ---------- ------------- ----------- Total 1,499 1,393 4,985 24,023 ------------ ---------- ------------- ----------- Other Property and Investments Investment in United Bridgeport Energy facility - - - - Nuclear decommissioning trust fund assets - - - - Marketable securities - - - - Investment in debt securities - - - - Other - - - 124,384 ------------ ---------- ------------- ----------- Total - - - 124,384 ------------ ---------- ------------- ----------- Property, Plant and Equipment at original cost In service 6,192 - 275 1,686 Less, accumulated depreciation 4,250 - 147 409 ------------ ---------- ------------- ----------- 1,942 - 128 1,277 Construction work in progress - - - - ------------ ---------- ------------- ----------- Net Property, Plant and Equipment 1,942 - 128 1,277 ------------ ---------- ------------- ----------- Regulatory Assets Nuclear plant investments-above market - - - - Income taxes due principally to book-tax differences - - - - Long-term purchase power contracts - above market - - - - Connecticut Yankee - - - - Unamortized redemption costs - - - - Other - - - - ------------ ---------- ------------- ----------- Total - - - - ------------ ---------- ------------- ----------- Deferred Charges Goodwill - - 1,597 - Unamortized debt issuance expenses - - - - Long term accounts receivable - - - - Other 124 - - 11,396 ------------ ---------- ------------- ----------- Total 124 - 1,597 11,396 ------------ ---------- ------------- ----------- Total Assets $3,565 $1,393 $6,710 $161,080 ============ ========== ============= ===========
Johnson Orlando Allan Electric, Data Diefenderfer, Electric, Inc. Store, Inc. Inc. Inc. ------------ ---------- ------------- ----------- Current Assets Unrestricted cash and temporary cash investments $ - $ - $ - $ 910 Utility accounts receivable, less allowance of $1,654 - - - - Other accounts receivable, less allowance of $1,522 4,851 5,623 11,830 10,898 Accounts receivable - APS settlement assets - - - - Unbilled revenues 196 - 1,071 5,382 Materials and supplies, at average cost 58 60 791 137 Prepayments - - - - Other 30 191 86 21 ------------ ---------- ------------- ----------- Total 5,135 5,874 13,778 17,501 ------------ ---------- ------------- ----------- Other Property and Investments Investment in United Bridgeport Energy facility - - - - Nuclear decommissioning trust fund assets - - - - Marketable securities - - - - Investment in debt securities - - - - Other 25 - - - ------------ ---------- ------------- ----------- Total 25 - - - ------------ ---------- ------------- ----------- Property, Plant and Equipment at original cost In service 745 630 2,787 2,563 Less, accumulated depreciation 443 528 1,647 2,065 ------------ ---------- ------------- ----------- 302 102 1,140 498 Construction work in progress - - - - ------------ ---------- ------------- ----------- Net Property, Plant and Equipment 302 102 1,140 498 ------------ ---------- ------------- ----------- Regulatory Assets Nuclear plant investments-above market - - - - Income taxes due principally to book-tax differences - - - - Long-term purchase power contracts - above market - - - - Connecticut Yankee - - - - Unamortized redemption costs - - - - Other - - - - ------------ ---------- ------------- ----------- Total - - - - ------------ ---------- ------------- ----------- Deferred Charges Goodwill 227 8,293 8,935 4,765 Unamortized debt issuance expenses - - - - Long term accounts receivable - - - - Other 118 98 - 498 ------------ ---------- ------------- ----------- Total 345 8,391 8,935 5,263 ------------ ---------- ------------- ----------- Total Assets $5,807 $14,367 $23,853 $23,262 ============ ========== ============= ===========
JBL McPhee Electric, Electric, 4 Front M J Inc. Inc. Systems, Inc. Daly, Inc. ------------ ---------- ------------- ----------- Current Assets Unrestricted cash and temporary cash investments $ 338 $ 1,798 $ 173 $ - Restricted cash - - - - Utility accounts receivable, less allowance of $1,654 - - - - Other accounts receivable, less allowance of $1,522 2,320 38,084 2,259 6,255 Accounts receivable - APS settlement assets - - - - Unbilled revenues 1,727 1,852 - 195 Materials and supplies, at average cost - 174 218 523 Prepayments - - - - Other 27 63 65 14 ------------ ---------- ------------- ----------- Total 4,412 41,971 2,715 6,987 ------------ ---------- ------------- ----------- Other Property and Investments Investment in United Bridgeport Energy facility - - - - Nuclear decommissioning trust fund assets - - - - Marketable securities - - - - Investment in debt securities - - - - Other - - - - ------------ ---------- ------------- ----------- Total - - - - ------------ ---------- ------------- ----------- Property, Plant and Equipment at original cost In service 1,760 3,035 409 2,341 Less, accumulated depreciation 637 1,613 247 1,845 ------------ ---------- ------------- ----------- 1,123 1,422 162 496 Construction work in progress - - - - ------------ ---------- ------------- ----------- Net Property, Plant and Equipment 1,123 1,422 162 496 ------------ ---------- ------------- ----------- Regulatory Assets Nuclear plant investments-above market - - - - Income taxes due principally to book-tax differences - - - - Long-term purchase power contracts - above market - - - - Connecticut Yankee - - - - Unamortized redemption costs - - - - Other - - - - ------------ ---------- ------------- ----------- Total - - - - ------------ ---------- ------------- ----------- Deferred Charges Goodwill 1,073 30,327 2,648 - Unamortized debt issuance expenses - - - - Long term accounts receivable - - - - Other - 5 112 4 ------------ ---------- ------------- ----------- Total 1,073 30,332 2,760 4 ------------ ---------- ------------- ----------- Total Assets $6,608 $73,725 $5,637 $7,487 ============ ========== ============= ===========
J E Richards, Terry Xcelecom Xcelecom Inc. Electric Eliminations Consolidated ------------ ---------- ------------- ------------ Current Assets Unrestricted cash and temporary cash investments $ 5,411 $ (28) $ - $ 9,022 Restricted cash 38 - - 391 Utility accounts receivable, less allowance of $1,654 - - - - Other accounts receivable, less allowance of $1,522 8,439 8,669 (49,806) 79,895 Accounts receivable - APS settlement assets - - - - Unbilled revenues 526 1,418 - 12,637 Materials and supplies, at average cost - 270 - 2,288 Prepayments - - - - Other 108 10 - 1,095 ------------ ---------- ------------- ----------- Total 14,522 10,339 (49,806) 105,328 ------------ ---------- ------------- ----------- Other Property and Investments Investment in United Bridgeport Energy facility - - - - Nuclear decommissioning trust fund assets - - - - Marketable securities - - - - Investment in debt securities - - - - Other - - (124,384) 25 ------------ ---------- ------------- ----------- Total - - (124,384) 25 ------------ ---------- ------------- ----------- Property, Plant and Equipment at original cost In service 1,658 5,955 - 30,036 Less, accumulated depreciation 1,169 3,368 - 18,368 ------------ ---------- ------------- ----------- 489 2,587 - 11,668 Construction work in progress - - - - ------------ ---------- ------------- ----------- Net Property, Plant and Equipment 489 2,587 - 11,668 ------------ ---------- ------------- ----------- Regulatory Assets Nuclear plant investments-above market - - - - Income taxes due principally to book-tax differences - - - - Long-term purchase power contracts - above market - - - - Connecticut Yankee - - - - Unamortized redemption costs - - - - Other - - - - ------------ ---------- ------------- ----------- Total - - - - ------------ ---------- ------------- ----------- Deferred Charges Goodwill 3,088 6,004 - 66,957 Unamortized debt issuance expenses - - - - Long term accounts receivable - - - - Other 15 83 (710) 11,743 ------------ ---------- ------------- ----------- Total 3,103 6,087 (710) 78,700 ------------ ---------- ------------- ----------- Total Assets $18,114 $19,013 $(174,900) $195,721 ============ ========== ============= ===========
XCELECOM, INC CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2002 THOUSANDS OF DOLLARS LIABILITIES AND CAPITALIZATION
Thermal Precision Energies Power Brite Xcelecom Inc. Inc. Way, Inc. Inc. --------------- -------------- -------------- ----------- Current Liabilities Notes payable $ 318 $ - $ 960 $ 4,050 Current portion of long-term debt - - - - Accounts payable 200 - - 21,714 Accounts payable - APS settlements - - - - Dividends payable - - - - Other accrued liabilities 297 - 1,461 2,868 Deferred revenues-nonutility businesses - - 191 - Taxes accrued 27 11 (34) (231) Interest accrued - - 2 - Obligations under capital leases - - - - --------------- -------------- -------------- ----------- Total 842 11 2,580 28,401 --------------- -------------- -------------- ----------- Noncurrent Liabilities Purchase power contract obligation - - - - Nuclear decommissioning obligation - - - - Connecticut Yankee contract obligation - - - - Long term notes payable 2,332 - - 10,382 Obligations under capital leases - - - - Other (87) - - - --------------- -------------- -------------- ----------- Total 2,245 - - 10,382 --------------- -------------- -------------- ----------- Deferred Income Taxes - - 45 196 --------------- -------------- -------------- ----------- Regulatory Liabilities Accumulated deferred investment tax credits - - - - Deferred gains on sale of property - - - - Customer refund - - - - Other - - - - Commitments and contingencies - - - - --------------- -------------- -------------- ----------- Total - - - - --------------- -------------- -------------- ----------- Capitalization Long-term debt - - - - Long-term debt - - - - Investment in Seabrook obligation bonds - - - - --------------- -------------- -------------- ----------- Net long-term debt - - - - --------------- -------------- -------------- ----------- Common stock equity Common stock 1 1 1 - Paid-in capital 1,291 7,335 3,303 124,971 Other comprehensive income - - - - Unreailzed gain on investment - - - - Capital stock expense - - - - Unearned employee stock ownership plan equity - - - - Retained earnings (814) (5,954) 781 (2,870) --------------- -------------- -------------- ----------- 478 1,382 4,085 122,101 --------------- -------------- -------------- ----------- Total Capitalization 478 1,382 4,085 122,101 --------------- -------------- -------------- ----------- Total Liabilities and Capitalization $3,565 $1,393 $6,710 $161,080 =============== ============== ============== ===========
Orlando Allan Johnson Data Diefenderfer, Electric, Electric, Inc. Store, Inc. Inc. Inc. --------------- -------------- -------------- ----------- Current Liabilities Notes payable $1,063 $ 45 $ 4,598 $ 4,723 Current portion of long-term debt - - - - Accounts payable 3,469 1 593 188 Accounts payable - APS settlements - - - - Dividends payable - - - - Other accrued liabilities 892 1,355 2,338 2,802 Deferred revenues-nonutility businesses 713 156 1,262 713 Taxes accrued 255 180 211 (112) Interest accrued 2 - 9 8 Obligations under capital leases - - - - --------------- -------------- -------------- ----------- Total 6,394 1,737 9,011 8,322 --------------- -------------- -------------- ----------- Noncurrent Liabilities Purchase power contract obligation - - - - Nuclear decommissioning obligation - - - - Connecticut Yankee contract obligation - - - - Long term notes payable 88 - 42 240 Obligations under capital leases - - - - Other - - - - --------------- -------------- -------------- ----------- Total 88 - 42 240 --------------- -------------- -------------- ----------- Deferred Income Taxes - - - 151 --------------- -------------- -------------- ----------- Regulatory Liabilities Accumulated deferred investment tax credits - - - - Deferred gains on sale of property - - - - Customer refund - - - - Other - - - - Commitments and contingencies - - - - --------------- -------------- -------------- ----------- Total - - - - --------------- -------------- -------------- ----------- Capitalization Long-term debt - - - - Long-term debt - - - - Investment in Seabrook obligation bonds - - - - --------------- -------------- -------------- ----------- Net long-term debt - - - - --------------- -------------- -------------- ----------- Common stock equity Common stock - 2 - 100 Paid-in capital 1,658 11,174 15,178 14,677 Other comprehensive income - - - - Unreailzed gain on investment - - - - Capital stock expense - - - - Unearned employee stock ownership plan equity - - - - Retained earnings (2,333) 1,454 (378) (228) --------------- -------------- -------------- ----------- (675) 12,630 14,800 14,549 --------------- -------------- -------------- ----------- Total Capitalization (675) 12,630 14,800 14,549 --------------- -------------- -------------- ----------- Total Liabilities and Capitalization $5,807 $14,367 $23,853 $23,262 =============== ============== ============== ===========
JBL McPhee 4 Front M J Electric, Inc. Electric, Inc. Systems, Inc. Daly, Inc. --------------- -------------- -------------- ----------- Current Liabilities Notes payable $2,746 $ 237 $1,638 $1,712 Current portion of long-term debt - - - - Accounts payable (31) (75) 48 232 Accounts payable - APS settlements - - - - Dividends payable - - - - Other accrued liabilities 859 4,350 1,209 1,373 Deferred revenues-nonutility businesses 15 16,154 260 2,161 Taxes accrued 34 183 (25) 251 Interest accrued 3 - 3 4 Obligations under capital leases - - - - --------------- -------------- -------------- ----------- Total 3,626 20,849 3,133 5,733 --------------- -------------- -------------- ----------- Noncurrent Liabilities Purchase power contract obligation - - - - Nuclear decommissioning obligation - - - - Connecticut Yankee contract obligation - - - - Long term notes payable 333 22 46 792 Obligations under capital leases - - - - Other - - - - --------------- -------------- -------------- ----------- Total 333 22 46 792 --------------- -------------- -------------- ----------- Deferred Income Taxes 26 802 - - --------------- -------------- -------------- ----------- Regulatory Liabilities Accumulated deferred investment tax credits - - - - Deferred gains on sale of property - - - - Customer refund - - - - Other - - - - Commitments and contingencies - - - - --------------- -------------- -------------- ----------- Total - - - - --------------- -------------- -------------- ----------- Capitalization Long-term debt - - - - Long-term debt - - - - Investment in Seabrook obligation bonds - - - - --------------- -------------- -------------- ----------- Net long-term debt - - - - --------------- -------------- -------------- ----------- Common stock equity Common stock 1 - - - Paid-in capital 1,932 41,060 2,876 994 Other comprehensive income - - - - Unreailzed gain on investment - - - - Capital stock expense - - - - Unearned employee stock ownership plan equity - - - - Retained earnings 690 10,992 (418) (32) --------------- -------------- -------------- ----------- 2,623 52,052 2,458 962 --------------- -------------- -------------- ----------- Total Capitalization 2,623 52,052 2,458 962 --------------- -------------- -------------- ----------- Total Liabilities and Capitalization $6,608 $73,725 $5,637 $7,487 =============== ============== ============== ===========
J E Xcelecom Xcelecom Richards, Inc. Terry Electric Eliminations Consolidated --------------- -------------- -------------- ----------- Current Liabilities Notes payable $ 251 $ 2,836 $ (21,122) $ 4,055 Current portion of long-term debt - - - - Accounts payable (422) 199 (24,782) 1,334 Accounts payable - APS settlements - - - - Dividends payable - - - - Other accrued liabilities 2,072 2,510 (3,965) 20,421 Deferred revenues-nonutility businesses 2,997 931 - 25,553 Taxes accrued 271 (286) - 735 Interest accrued - 4 (35) - Obligations under capital leases - - - - --------------- -------------- -------------- ----------- Total 5,169 6,194 (49,904) 52,098 --------------- -------------- -------------- ----------- Noncurrent Liabilities Purchase power contract obligation - - - - Nuclear decommissioning obligation - - - - Connecticut Yankee contract obligation - - - - Long term notes payable 2,400 1,144 (3,412) 14,409 Obligations under capital leases - - - - Other - - - (87) --------------- -------------- -------------- ----------- Total 2,400 1,144 (3,412) 14,322 --------------- -------------- -------------- ----------- Deferred Income Taxes 81 - - 1,301 --------------- -------------- -------------- ----------- Regulatory Liabilities Accumulated deferred investment tax credits - - - - Deferred gains on sale of property - - - - Customer refund - - - - Other - - - - Commitments and contingencies - - - - --------------- -------------- -------------- ----------- Total - - - - --------------- -------------- -------------- ----------- Capitalization Long-term debt - - - - Long-term debt - - - - Investment in Seabrook obligation bonds - - - - --------------- -------------- -------------- ----------- Net long-term debt - - - - --------------- -------------- -------------- ----------- Common stock equity Common stock - - (104) 2 Paid-in capital 8,858 11,142 (121,480) 124,969 Other comprehensive income - - - - Unreailzed gain on investment - - - - Capital stock expense - - - - Unearned employee stock ownership plan equity - - - - Retained earnings 1,606 533 - 3,029 --------------- -------------- -------------- ----------- 10,464 11,675 (121,584) 128,000 --------------- -------------- -------------- ----------- Total Capitalization 10,464 11,675 (121,584) 128,000 --------------- -------------- -------------- ----------- Total Liabilities and Capitalization $18,114 $19,013 $(174,900) $195,721 =============== ============== ============== ===========
UIL HOLDINGS CORPORATION CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2002 THOUSANDS OF DOLLARS
The United Illuminating United Resources Company UIL Holdings Inc. ------------------------- --------------- --------------------- BALANCE, JANUARY 1 $174,275 $14,301 $(14,590) Net income (loss) 53,944 43,947 (4,247) ------------------------- --------------- --------------------- Total 228,219 58,248 (18,837) ------------------------- --------------- --------------------- Deduct Cash Dividends Declared Common stock 80,000 41,029 - ------------------------- --------------- --------------------- Total 80,000 41,029 - ------------------------- --------------- --------------------- BALANCE, DECEMBER 31 $148,219 $17,219 $(18,837) ========================= =============== =====================
United United American Payment Capital Bridgeport Systems, Inc. Investments, Inc. Energy, Inc. ------------------------- --------------- --------------------- BALANCE, JANUARY 1 $(5,721) $(3,326) $2,835 Net income (loss) (1,804) (4,091) (1,009) ------------------------- --------------- --------------------- Total (7,525) (7,417) 1,826 ------------------------- --------------- --------------------- Deduct Cash Dividends Declared Common stock - - - ------------------------- --------------- --------------------- Total - - - ------------------------- --------------- --------------------- BALANCE, DECEMBER 31 $(7,525) $(7,417) $1,826 ========================= =============== =====================
Souwestcon Xcelecom UIL Properties, Inc. Consolidated Eliminations Consolidated ------------------------- --------------- --------------------- ------------------ BALANCE, JANUARY 1 $ (70) $ - $45,166 $214,459 Net income (loss) (351) - (43,882) 43,947 ------------------------- --------------- --------------------- ------------------ Total (421) - 1,284 258,406 ------------------------- --------------- --------------------- ------------------ Deduct Cash Dividends Declared Common stock - - (80,000) 41,029 ------------------------- --------------- --------------------- ------------------ Total - - (80,000) 41,029 ------------------------- --------------- --------------------- ------------------ BALANCE, DECEMBER 31 $(421) $ - $81,284 $217,377 ========================= =============== ===================== ==================
XCELECOM, INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2002 THOUSANDS OF DOLLARS
Thermal Energies Precision Power Xcelecom Inc. Inc. Brite Way, Inc. Inc. ------------------ ------------------ ------------------------------ BALANCE, JANUARY 1 $(980) $(5,971) $502 $(1,977) Net income (loss) 166 17 279 (893) ------------------ ------------------ ---------------- ----------- Total (814) (5,954) 781 (2,870) ------------------ ------------------ ---------------- ----------- Deduct Cash Dividends Declared Common stock - - - - ------------------ ------------------ ---------------- ----------- Total - - - - ------------------ ------------------ ---------------- ----------- BALANCE, DECEMBER 31 $(814) $(5,954) $781 $(2,870) ================== ================== ================ ===========
Orlando Allan Johnson Data Diefenderfer, Electric, Electric, Inc. Store, Inc. Inc. Inc. ------------------ ------------------ ---------------- ----------- BALANCE, JANUARY 1 $ 474 $1,552 $(507) $(460) Net income (loss) (2,807) (98) 129 232 ------------------ ------------------ ---------------- ----------- Total (2,333) 1,454 (378) (228) ------------------ ------------------ ---------------- ----------- Deduct Cash Dividends Declared Common stock - - - - ------------------ ------------------ ---------------- ----------- Total - - - - ------------------ ------------------ ---------------- ----------- BALANCE, DECEMBER 31 $(2,333) $1,454 $(378) $(228) ================== ================== ================ ===========
JBL McPhee 4 Front M J Electric, Inc. Electric, Inc. Systems, Inc. Daly, Inc. ------------------ ------------------ ---------------- ----------- BALANCE, JANUARY 1 $552 $ 7,359 $ (2) $100 Net income (loss) 138 3,633 (416) (132) ------------------ ------------------ ---------------- ----------- Total 690 10,992 (418) (32) ------------------ ------------------ ---------------- ----------- Deduct Cash Dividends Declared Common stock - - - - ------------------ ------------------ ---------------- ----------- Total - - - - ------------------ ------------------ ---------------- ----------- BALANCE, DECEMBER 31 $690 $10,992 $(418) $(32) ================== ================== ================ ===========
Xcelecom J E Richards, Inc. Terry Electric Consolidated ------------------ ------------------ ---------------- BALANCE, JANUARY 1 $ 947 $ - $1,589 Net income (loss) 659 533 1,440 ------------------ ------------------ ---------------- Total 1,606 533 3,029 ------------------ ------------------ ---------------- Deduct Cash Dividends Declared Common stock - - - ------------------ ------------------ ---------------- Total - - - ------------------ ------------------ ---------------- BALANCE, DECEMBER 31 $1,606 $533 $3,029 ================== ================== ================
EXHIBIT B An organizational chart showing the relationship of each EWG or foreign utility company to associate companies in the holding company system. ------------------------------- UIL Holdings Corporation ------------------------------- 100% ------------------------------- United Resources, Inc. ------------------------------- 100% ------------------------------- -------------------------- United Bridgeport Energy, Inc. Unrelated Persons ------------------------------- -------------------------- 33% 67% ---------------------- Bridgeport Energy LLC (EWG) ----------------------