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NU 2006 ANNUAL REPORT 53
At December 31,
(Thousands of Dollars) 2006 2005
Liabilities and Capitalization
Current Liabilities:
Notes payable to banks $—$ 32,000
Long-term debt – current portion 4,877 22,673
Accounts payable 569,940 972,368
Accrued taxes 364,659 95,210
Accrued interest 53,782 47,742
Derivative liabilities – current 125,781 402,530
Counterparty deposits 148 28,944
Other 244,586 272,252
Liabilities of assets held for sale 62 101,511
1,363,835 1,975,230
Rate Reduction Bonds 1,177,158 1,350,502
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 1,099,433 1,306,340
Accumulated deferred investment tax credits 32,427 95,444
Deferred contractual obligations 271,528 358,174
Regulatory liabilities 809,324 1,273,501
Derivative liabilities – long-term 148,557 272,995
Accrued postretirement benefits 203,320 16,506
Other 322,840 346,451
2,887,429 3,669,411
Capitalization:
Long-Term Debt 2,960,435 3,027,288
Preferred Stock of Subsidiary – Non-Redeemable 116,200 116,200
Common Shareholders’ Equity:
Common shares, $5 par value – authorized
225,000,000 shares; 175,420,239 shares issued
and 154,233,141 shares outstanding in 2006 and
174,897,704 shares issued and 153,225,892 shares
outstanding in 2005 877,101 874,489
Capital surplus, paid in 1,449,586 1,437,561
Deferred contribution plan – employee stock ownership plan (34,766) (46,884)
Retained earnings 862,660 504,301
Accumulated other comprehensive income 4,498 19,987
Treasury stock, 19,684,249 shares in 2006
and 19,645,511 shares in 2005 (360,900) (360,210)
Common Shareholders’ Equity 2,798,179 2,429,244
Total Capitalization 5,874,814 5,572,732
Commitments and Contingencies (Note 8)
Total Liabilities and Capitalization $11,303,236 $12,567,875
The accompanying notes are an integral part of these consolidated financial statements.
CONSOLIDATED BALANCE SHEETS