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The accompanying notes are an integral part of these consolidated financial statements.
34
National Grid USA / Annual Report
2006 2005
CAPITALIZATION AND LIABILITIES
Capitalization:
Common stockholder's equity:
Common stock ($.10 par value)
-$
-$
Authorized - 3,000 shares
Issued and outstanding - 1,000 shares
Additional paid-in capital 7,099,046 7,099,046
Retained earnings 1,484,597 980,101
Accumulated other comprehensive loss (4,256) (172,161)
Total common stockholder's equity 8,579,387 7,906,986
Minority interest in subsidiaries 17,712 19,551
Cumulative preferred stock 52,317 52,317
Long-term debt 2,125,241 2,464,058
Long-term debt to affiliates 1,200,000 1,200,000
Total capitalization 11,974,657 11,642,912
Current liabilities:
Accounts payable 619,501 588,200
Customers' deposits 40,770 34,061
Accrued interest 50,506 70,979
Short-term debt due to affiliates 644,168 687,168
Current portion of long-term debt 302,320 567,725
Current portion of accrued Yankee nuclear plant costs 54,796 53,114
Current portion of derivatives and swap contracts 324,858 203,558
Current portion of purchased power obligations 13,559 104,486
Other 354,486 198,881
Total current liabilities 2,404,964 2,508,172
Other non-current liabilities:
Accumulated deferred income taxes 2,222,954 2,204,833
Unamortized investment tax credits 67,593 74,331
Accrued Yankee nuclear plant costs 140,832 168,426
Purchased power obligations 23,688 189,126
Derivatives and swap contracts 538,882 415,394
Accrued employee pension and other benefits 719,524 701,995
Additional minimum pension liability 127,351 290,145
Environmental remediation costs 569,319 604,540
Nuclear fuel disposal costs 150,642 145,562
Regulatory liabilities 1,355,595 1,427,513
Other 385,690 338,990
Total other non-current liabilities 6,302,070 6,560,855
Total capitalization and liabilities 20,681,691$ 20,711,939$
March 31,
NATIONAL GRID USA AND SUBSIDIARY COMPANIES
Consolidated Balance Sheets
(In thousands of dollars)