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NU 2006 ANNUAL REPORT 15
16
Management’s Discussion and Analysis
Management discusses in detail the financial results and condition
of the company, providing investors with an opportunity to view the
company through the eyes of management
50
Company Report on Internal Controls Over Financial Reporting
Management accepts responsibility for the preparation, integrity,
and fair presentation of the accompanying consolidated financial
statements and concludes that the internal controls over financial
reporting were effective as of December 31, 2006
51
Report of Independent Registered Public Accounting Firm
The report of Deloitte & Touche LLP
52
Consolidated Balance Sheets
The company’s total assets were $11.3 billion at December 31, 2006
54
ConsolidatedStatements of Income/(Loss) and
Consolidated Statements of Comprehensive Income/(Loss)
The company’s net income for 2006 was $470.6 million while
comprehensiveincome for 2006 was $459.3 million
55
Consolidated Statements of Shareholders’ Equity
In 2006, the company declared $112.2 million in common
dividends, and common shareholders’ equity totaled $2.8 billion
at December 31, 2006
56
Consolidated Statements of Cash Flows
The company’s cash and cash equivalents at December 31, 2006,
were $481.9 million, an increase of $436.1 million from a year earlier,
while the company’s operating cash flows totaled $407.1 million in 2006
57
Consolidated Statements of Capitalization
At December 31, 2006, the company’s total capitalization was
$5.9 billion, which included $3 billion in long-term debt, $0.1 billion
in non-redeemable preferred stock and $2.8 billion in common
shareholders’ equity
58
Notes to Consolidated Financial Statements
The company explains in detail the events, actions, projects, processes,
and judgments that produced the amounts reflected in the accompanying
consolidated financial statements
102
Trustees and Officers
Alisting of the company’s Trustees and Officers
Inside Back Cover
Shareholder Information
Summarized shareholder information
2006
FINANCIAL
INFORMATION