EX-99.A2 4 exha2.htm WPSR INCOME STATEMENT AND RETAINED EARNINGS

WPS RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF INCOME

Exhibit A-2

FOR THE YEAR ENDED DECEMBER 31, 2002

Millions

 

 

 

 

 

 

 

 

 

 

ELIMINATIONS

CONSOLIDATED

 

WPSC

WPSR

WPSRCC

UPPCO

UPBDC

PENVEST

WPSN

CAP TRUST

VISIONS

DEBIT

CREDIT

STATEMENTS

OPERATING REVENUES:

Nonregulated revenue

-

122.5

1,627.8

-

1.1

0.1

-

-

-

126.9

-

1,624.6

Utility revenue

1,007.6

-

-

66.1

-

-

-

-

-

23.7

0.3

1,050.3

Total revenues

1,007.6

122.5

1,627.8

66.1

1.1

0.1

-

-

-

150.6

0.3

2,674.9

Nonregulated cost of fuel, gas,
and purchased power

-

-

1,527.6

-

-

-

-

-

-

-

5.4

1,522.2

Utility cost of fuel, gas, and purchased power

415.8

-

-

24.7

-

-

-

-

-

3.4

24.9

419.0

Operating and maintenance expense

326.9

5.8

86.0

26.8

-

0.1

-

-

-

-

1.1

444.5

Depreciation and decommissioning

81.9

0.3

11.6

4.0

0.2

-

-

-

-

-

-

98.0

Taxes other than income

33.4

-

2.3

4.3

0.1

-

-

-

-

-

-

40.1

Total operating expenses

858.0

6.1

1,627.5

59.8

0.3

0.1

-

-

-

3.4

31.4

2,523.8

Operating income

149.6

116.4

0.3

6.3

0.8

-

-

-

-

154.0

31.7

151.1

Miscellaneous income

19.0

1.3

29.6

2.2

-

-

0.2

3.6

-

8.1

-

47.8

Interest Expense

(33.9)

(16.3)

(10.7)

(3.4)

(0.3)

-

-

(0.1)

-

-

(6.6)

(58.1)

Distributions - preferred securities of subsidiary trust

-

-

-

-

-

-

(3.5)

-

-

-

(3.5)

Other income (expense)

(14.9)

(15.0)

18.9

(1.2)

(0.3)

-

0.2

-

-

8.1

(6.6)

(13.8)

Income before income taxes

134.7

101.4

19.2

5.1

0.5

-

0.2

-

-

162.1

38.3

137.3

Provision for income taxes

46.8

(8.0)

(15.7)

1.6

0.2

-

0.1

-

-

0.2

-

24.8

Minority interest

(1.7)

-

(0.1)

-

-

-

-

-

-

-

1.8

-

Net income before preferred

86.2

109.4

34.8

3.5

0.3

-

0.1

-

-

161.9

40.1

112.5

Preferred stock dividends of subsidiary

3.1

-

-

-

-

-

-

-

-

-

-

3.1

Income available for common shareholders

83.1

109.4

34.8

3.5

0.3

-

0.1

-

-

161.9

40.1

109.4

WPS RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATING STMT OF RETAINED EARNINGS

AS OF DECEMBER 31, 2002

Millions

 

 

 

 

 

 

 

 

 

 

ELIMINATIONS

CONSOLIDATED

 

WPSC

WPSR

WPSRCC

UPPCO

UPBDC

PENVEST

WPSN

CAP TRUST

VISIONS

DEBIT

CREDIT

STATEMENTS

Retained Earnings (1/1/02)

250.4

371.4

(1.2)

11.3

1.2

0.1

(0.2)

-

-

263.6

1.5

370.9

Income available for common shareholders

83.1

109.4

34.8

3.5

0.3

-

0.1

-

-

161.9

40.1

109.4

333.5

480.8

33.6

14.8

1.5

0.1

(0.1)

-

-

425.5

41.6

480.3

Dividends on common stock

64.3

66.8

-

-

-

-

-

-

-

-

(64.0)

67.1

Other comprehensive income

2.7

7.4

4.7

-

-

-

-

-

-

-

(7.5)

7.3

Retained earnings (12/31/02)

266.5

406.6

28.9

14.8

1.5

0.1

(0.1)

-

-

425.5

113.1

405.9