Dominion Power 2003 Annual Report Download - page 59

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57.Dominion 2003
At December 31, 2003 2002
(millions)
Liabilities and Shareholders’ Equity
Current Liabilities
Securities due within one year $ 1,252 $2,125
Short-term debt 1,452 1,193
Accounts payable, trade 2,712 2,310
Accrued interest, payroll and taxes 619 606
Derivative and energy trading liabilities 2,082 1,609
Other 750 600
Total current liabilities 8,867 8,443
Long-Term Debt
Long-term debt 14,336 11,968
Junior subordinated notes payable to affiliated trusts (1) 1,440
—
Other notes payable to affiliates
—
92
Total long-term debt 15,776 12,060
Deferred Credits and Other Liabilities
Deferred income taxes 4,471 4,099
Deferred investment tax credits 92 110
Asset retirement obligations 1,651 1,538
Derivative and energy trading liabilities 1,185 690
Regulatory liabilities 587 551
Other 762 640
Total deferred credits and other liabilities 8,748 7,628
Total liabilities 33,391 28,131
Commitments and Contingencies (see Note 23)
Company Obligated Mandatorily Redeemable Preferred Securities of Subsidiary Trusts (1)
—
1,397
Subsidiary Preferred Stock Not Subject To Mandatory Redemption 257 257
Common Shareholders’ Equity
Common stock
—
no par (2) 10,052 9,051
Other paid-in capital 61 47
Retained earnings 1,054 1,561
Accumulated other comprehensive loss (629) (446)
Total common shareholders’ equity 10,538 10,213
Total liabilities and shareholders’ equity $44,186 $39,998
(1) Junior subordinated notes issued by Dominion Resources, Inc. and certain subsidiaries constitute 100% of the trusts’ assets; trusts no longer subject to consolidation,
effective December 31, 2003.
(2) 500 million shares authorized; 325 million shares and 308 million shares outstanding at December 31, 2003 and 2002, respectively.
The accompanying notes are an integral part of the Consolidated Financial Statements.