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Enron Finanical Statements

Enron Corp. and Subsidiaries
Balance Sheet
December 31, 2000 1999 1998
Assets
Current Assets
Cash and cash equivalents 1,374 288 111
Trade receivables, net 10,396 3,030 2,060
Other receivables 1,874 518 833
Assets from price risk management activities 12,018 2,205 1,904
Inventories 953 598 514
Deposits 2,433 81 0
Other receivables 1,333 535 511
Total Current Assets 30,381 7,255 5,933
Investments and Other Assets
Investments in and advances to unconsolidated equity affiliates 5,294 5,036 4,433
Assets from price risk management activities 8,988 2,929 1,941
Goodwill 3,638 2,799 1,949
Other 5,459 4,681 4,437
Total investments and other assets 23,379 15,445 12,760
Property, Plant and Equipment at cost
Natural gas transmission 6,916 6,948 6,936
Electric generation and distribution 4,766 3,552 2,061
Fiber-optic network and equipment 839 379 989
Construction in progress 682 1,120 4,814
Other 2,256 1,913 992
15,459 13,912 15,792
less accumulated depreciation 3,716 3,231 5,135
Property, Plant and Equipment, net 11,743 10,681 10,657
Total Assets 65,503 33,381 29,350
Liabilities and Shareholders' Equity
Current Liabilities
Accounts payable 9,777 2,154 2,380
Liabilities from price risk management activities 10,495 1,836 2,511
Short-term debt 1,679 1,001 0
Customers' deposits 4,277 44 0
Other 2,178 1,724 1,216
Total Current Liabilities 28,406 6,759 6,107
Long-term Debt 8,550 7,151 7,357
Deferred Credits and Other Liabilities
Deferred income Taxes 1,644 1,894 2,357
Liabilities from price risk management activities 9,423 2,990 1,421
Other 2,692 1,587 1,916
Total Deferred Credits and Other Liabilities 13,759 6,471 5,694
Minority Interest in Consolidated Subsidaries 2,414 2,430 2,143
Company-Obligated Preferred Securities of Subsidiaries 904 1,000 1,001
Shareholder's Equity
Second preferrred stock 124 130 132
Mandatorily Convertible Junior Preferred Stock 1,000 1,000 0
Common Stock 8,348 6,637 5,117
Retained Earnings 3,226 2,698 2,226
Accumulated Other Comprehensive Income (1,048) (741) (162)
Common Stock Held in the Treasury (32) (49) (195)
Restricted Stock and Other (148) (105) (70)
Total Shareholder's Equity 11,470 9,570 7,048
Total Liabilities and Shareholder's Equity 65,503 33,381 29,350
Enron Corp. and Subsidiaries
Income Statement
Year ended December 31, 2000 1999 1998
Revenues
Natural gas and other products 50,500 19,536 13,276
Electricity 33,823 15,238 13,939
Metals 9,234 0 0
Other 7,232 5,338 4,045
Total Revenues 100,789 40,112 31,260
Cost and Expenses
Cost of gas, electricy metals and other products 94,517 34,761 26,381
Operating expenses 3,184 3,045 2,473
Depreciation, depletion and amortization 855 870 827
Taxes, other than income taxes 280 193 201
Impairment of long-lived assets 0 441 0
Total costs and expenses 98,836 39,310 29,882
Operating income 1,953 802 1,378
Other income and deductions
Equity in earnings of unconsolidated equity affiliates 87 309 97
Gains on sales of non-merchant assets 146 541 56
Gains on the issuance of stock by TNPC, Inc. 121 0 0
Interest income 212 162 88
Other income, net (37) 181 (37)
Total other income and deductions 529 1,193 204
Income Before Interest, Minority Interests and Income Taxes 2,482 1,995 1,582
Other
Interest and related charges, net 838 656 550
Dividends on company-obligated preferred securities of subsidiaries 77 76 77
Minority interests in (earnings) losses of unconsolidated subsidaries 154 135 77
Income tax expense 434 104 175
Other charges 1,503 971 879
Net income before cumulative effect of accounting changes 979 1,024 703
Cumulative effect of accounting change, net of tax 0 (131) 0
Net income 979 893 703
Enron Corp. and Subsidiaries
Statement of Cash Flows
Year ended December 31, 2000 1999 1998
Cash Flow From Operating Activities
Reconciliation of net income to net cash provided by operating activities
Net income 979 893 703
Cumulative effect of accounting chagnes 0 131 0
Depreciation, depletion and amortization 855 870 827
Impairment of long-lived assets (including equity investments) 326 441 0
Deferred income taxes 207 21 87
Gains on sales of non-merchant assets (146) (541) (82)
Changes in the components of working capital 1,769 (1,000) (233)
Net assets from price risk managemetn activities (763) (395) 350
Merchant assets and investments
Realized gains on sales (104) (756) (628)
Proceeds from sales 1,838 2,217 1,434
Additions and unrealized gains (1,295) (827) (721)
Other operating activities 1,113 174 (97)
4,779 1,228 1,640
Cash Flows from Investing Activities
Capital expenditures (2,381) (2,363) (1,905)
Equity investments (933) (722) (1,659)
Proceeds from sales of non-merchant assets 494 294 239
Acquisition of subsidiary stock (485) 0 (180)
Business acquisitions, net of cash acquired (777) (311) (104)
Other investing activities (182) (405) (356)
Net Cash Used in Investing Activities (4,264) (3,507) (3,965)
Cash Flows from Financing Activities
Issuance of long-term debt 3,994 1,776 1,903
Repayment of long-term debt (2,337) (1,837) (870)
Net incrase (decrease) in short-term borrowing (1,595) 1,565 (158)
Net issuance (redemption) of company obligated preferred securities
of subsidiaries (96) 0 8
Issuance of common stock 307 852 867
Issuance of subsidiary equity 500 568 828
Dividends paid (523) (467) (414)
Net disposition of treasury stock 327 139 13
Other financing activities (6) (140) 89
Net Cash Provided by Financing Activities 571 2,456 2,266
Increase (Decrease) in Cash and Cash Equivalents 1,086 177 (59)
Cash and Cash Equivalents, Beginning of the Year 288 111 170
Cash and Cash Equivalents, End of the Year 1,374 288 111
Changes in Components of Working Capital
Receivables (8,203) (662) (1,055)
Inventories 1,336 (133) (372)
Payables 7,167 (246) 433
Other 1,469 41 761
1,769 (1,000) (233)