EX-99 66 exhibith.htm MOST RECENTLY AVAILABLE AUDITED BALANCE SHEET, INCOME STATEMENT AND CASH FLOWS STATEMENT OF... Exhibit H

Exhibit H

BALANCE SHEET - DECEMBER 31, 2002

(000's)

Allegheny

Allegheny

Allegheny

Allegheny

Energy

Energy Supply

Energy Supply

Energy Supply

Supply

Gleason

Wheatland

Lincoln

Acadia Bay

Hunlock

Generating

Generating

Generating

Energy

ASSETS

Creek, LLC

Facility, LLC

Facility, LLC

Facility, LLC

Company, LLC

Current assets:

Cash and temporary cash investments

0 

2,712 

3,105 

2,487 

0 

Accounts receivable - other

49 

0 

0 

0 

0 

- affiliated

0 

9,380 

2,696 

6,736 

0 

Materials and supplies - at average cost

0 

351 

688 

655 

0 

Taxes receivable - nonaffiliated

0 

17 

14 

0 

0 

Other current assets

0 

603 

3 

4 

0 

Total Current Assets

49 

13,063 

6,506 

9,882 

0 

Property, plant and equipment:

At original cost

0 

318,613 

300,515 

420,792 

0 

Construction work in progress

0 

4,401 

0 

1,385 

0 

Subtotal

0 

323,014 

300,515 

422,177 

0 

Accumulated depreciation

0 

(15,060)

(14,644)

(20,520)

0 

Net Property, Plant and Equipment

0 

307,954 

285,871 

401,657 

0 

Investments and other assets:

Unregulated investments

19,007 

0 

0 

0 

0 

Deferred charges:

Deferred income taxes

53 

2,588 

2,124 

3,050 

75,597 

Other deferred charges

0 

42,076 

0 

0 

0 

Total Deferred Charges

53 

44,664 

2,124 

3,050 

75,597 

Total assets

19,109 

365,681 

294,501 

414,589 

75,597 

Exhibit H

BALANCE SHEET - DECEMBER 31, 2002

(000's)

Allegheny

Allegheny

Allegheny

Allegheny

Energy

Energy Supply

Energy Supply

Energy Supply

Supply

Gleason

Wheatland

Lincoln

Acadia Bay

Hunlock

Generating

Generating

Generating

Energy

CAPITALIZATION AND LIABILITIES

Creek, LLC

Facility, LLC

Facility, LLC

Facility, LLC

Company, LLC

Current liabilities:

Long-term debt due within 1 year

0

0

0

4,704

0 

Debentures, notes and bonds (see pages A-6, A-7, A-8, A-9, A-10)

0

0

0

0

119,998 

Accounts payable

0

11,446

155

147

155 

Accounts payable to affiliates

495

0

0

0

0 

Taxes accrued - other

0

6

904

470

0 

Taxes payable to affiliates

0

3,136

2,559

3,620

18 

Interest accrued

0

0

0

0

104 

Payroll accrued

0

0

0

50

0 

Contract termination costs

0

0

0

0

47,965 

Other current liabilities

0

0

0

50

0 

Total Current Liabilities

495

14,588

3,618

9,041

168,240 

Long-term notes and advances - affiliated

0

0

0

151,507

2,507 

Deferred credits and other liabilities:

Payables to affiliates

0

0

0

8,676

0 

Deferred income taxes

0

2,055

0

0

1,959 

Other

0

0

0

0

8,106 

Total Deferred Credits and Other Liabilities

0

2,055

0

8,676

10,065 

Capitalization:

Members equity

18,614

349,038

290,883

245,365

(105,215)

 

Total capitalization and liabilities

19,109

365,681

294,501

414,589

75,597 

Exhibit H

STATEMENT OF OPERATIONS FOR YEAR ENDED DECEMBER 31, 2002

(000's)

Allegheny

Allegheny

Allegheny

Allegheny

Energy

Energy Supply

Energy Supply

Energy Supply

Supply

Gleason

Wheatland

Lincoln

Acadia Bay

Hunlock

Generating

Generating

Generating

Energy

Creek, LLC

Facility, LLC

Facility, LLC

Facility, LLC

Company, LLC

Operating revenues:

Total operating revenues

0 

25,457

18,814 

34,034 

0 

Cost of revenues:

Fuel consumed for electric generation

0 

5,710

5,529 

4,223 

0 

Purchased energy and transmission

0 

0

0 

440 

0 

Total cost of revenues

0 

5,710

5,529 

4,663 

0 

Net revenues

0 

19,747

13,285 

29,371 

0 

Other Operating expenses:

Workforce reduction expenses

0 

149

174 

3 

0 

Operation expense

3 

4,504

2,754 

2,436 

191,978 

Depreciation and amortization

0 

9,424

8,785 

12,295 

0 

Taxes other than income taxes

69 

473

1,686 

1,056 

5 

Total other operating expenses

72 

14,550

13,399 

15,790 

191,983 

Other income and expenses, net

0 

27

94 

98 

0 

Interest charges - interest on debt

0 

3

0 

13,702 

137 

Federal and state income tax expense (benefit)

(30)

2,585

421 

570 

(73,620)

Net Income (loss)

(42)

2,636

(441)

(593)

(118,500)

Exhibit H

STATEMENT OF CASH FLOWS FOR YEAR ENDED DECEMBER 31, 2002

(000's)

Allegheny

Allegheny

Allegheny

Allegheny

Energy

Energy Supply

Energy Supply

Energy Supply

Supply

Gleason

Wheatland

Lincoln

Acadia Bay

Hunlock

Generating

Generating

Generating

Energy

Cash Flows from Operations:

Creek, LLC

Facility, LLC

Facility, LLC

Facility, LLC

Company, LLC

Net income (loss)

(42)

2,636 

(441)

(593)

(118,500)

Depreciation and amortization

0 

9,423 

8,784 

12,295 

0 

Deferred investment credit and income taxes, net

(53)

6,627 

3,598 

4,522 

(73,638)

Impairment of generation projects

0 

0 

0 

0 

191,976 

Changes in certain assets and liabilities:

Accounts receivable, net

(1)

0 

0 

0 

0 

Affiliates accounts receivable/payable, net

0 

(8,956)

(2,138)

(2,638)

0 

Materials and supplies

0 

23 

(163)

(92)

0 

Taxes receivable

0 

2,353 

2,184 

3,042 

0 

Accounts payable

0 

10,194 

(90)

(176)

0 

Accounts payable to affiliates

(55)

0 

0 

0 

0 

Prepayments

0 

(8,568)

24 

48 

0 

Accrued payroll

0 

0 

0 

10 

0 

Other

1,911 

(1,229)

(4,627)

(6,535)

(13,152)

Total Cash Flows from Operations

1,760 

12,503

7,131 

9,883 

(13,314)

Cash Flows used in Investing:

Construction expenditures

0 

(15,670)

(1,675)

(1,385)

0 

Other investments

0 

0 

0 

0 

0 

Total Cash Flows used in Investing

0 

(15,670)

(1,675)

(1,385)

0 

Cash Flows from (used in) Financing:

Notes payable to parent and affiliates

0 

0 

0 

(720)

34 

Parent Company contribution

190 

1,190 

0 

0 

13,280 

Dividends paid to parent

(1,950)

0 

(8,000)

(9,000)

0 

Total Cash Flows from (used in) Financing

(1,760)

1,190 

(8,000)

(9,720)

13,314 

Net Change in Cash and Temporary

Cash Investments

0 

(1,977)

(2,544)

(1,222)

0 

Cash and Temporary Cash Investments at January 1

0 

4,689 

5,649 

3,709 

0 

Cash and Temporary Cash Investments at December 31

0 

2,712 

3,105 

2,487 

0 

Supplemental cash flow information:

Cash paid during the year for:

Interest (net of amount capitalized)

0 

3 

0 

13,703 

0 

Income taxes

(50)

0 

0 

0 

0