Atmos Energy 2005 Annual Report Download - page 15

2 6 2 7
c o n s o l i d a t e d ฀ f i n a n c i a l ฀ a n d ฀ s t a t i s t i c a l ฀ s u m m a r y ฀ ( 2 0 0 1 - 2 0 0 5 ) f o r w a r d - l o o k i n g ฀ s t a t e m e n t s
YEAR฀ENDED฀SEPTEMBER฀30฀ ฀ 2 0 0 5฀ ฀ 2 0 0 4฀ ฀ 2 0 0 3฀ ฀ 2 0 0 2฀ ฀ 2 0 0 1
Balance฀Sheet฀Data฀at฀September฀30฀(000s)
Capital฀expenditures฀ $฀ 333,183฀ $฀ 190,285฀ $฀ 159,439฀ $฀ 132,252฀ $฀ 113,109
Net฀property,฀plant฀and฀equipment฀ ฀ 3,374,367฀ ฀ 1,722,521฀ ฀ 1,624,394฀ ฀ 1,380,070฀ ฀ 1,409,432
Working฀capital฀฀ ฀ 151,675฀ ฀ 283,310฀ ฀ 16,248฀ ฀ (139,150)฀ ฀ (90,968)
Total฀assets฀ ฀ ฀ 5,653,527฀ ฀ 2,912,627฀ ฀ 2,625,495฀ ฀ 2,059,631฀ ฀ 2,108,841
Shareholders’฀equity฀ ฀ 1,602,422฀ ฀ 1,133,459฀ ฀ 857,517฀ ฀ 573,235฀ ฀ 583,864
Long-term฀debt,฀excluding฀current฀maturities฀ ฀ 2,183,104฀ ฀ 861,311฀ ฀ 862,500฀ ฀ 668,959฀ ฀ 691,026
Total฀capitalization฀ ฀ 3,785,526฀ ฀ 1,994,770฀ ฀ 1,720,017฀ ฀ 1,242,194฀ ฀ 1,274,890
Income฀Statement฀Data
Operating฀revenues*฀(000s)฀$฀ 4,973,326฀ $฀ 2,920,037฀ $฀ 2,799,916฀ $฀ 1,650,964฀ $฀ 1,725,481
Gross฀profit*฀(000s)฀ ฀ 1,129,090฀ ฀ 562,191฀ ฀ 534,976฀ ฀ 431,140฀ ฀ 375,208
Net฀income฀(000s)฀ ฀ 135,785฀ ฀ 86,227฀ ฀ 71,688฀ ฀ 59,656฀ ฀ 56,090
Net฀income฀per฀diluted฀share฀฀ ฀ 1.72฀ ฀ 1.58฀ ฀ 1.54฀ ฀ 1.45฀ ฀ 1.47
Common฀Stock฀Data
Shares฀outstanding฀(000s)
฀ End฀of฀year฀ ฀ ฀ 80,539฀ ฀ 62,800฀ ฀ 51,476฀ ฀ 41,676฀ ฀ 40,792
฀ Weighted฀average฀ ฀ 79,012฀ ฀ 54,416฀ ฀ 46,496฀ ฀ 41,250฀ ฀ 38,247
Cash฀dividends฀per฀share฀ $฀ 1.24฀ $฀ 1.22฀ $฀ 1.20฀ $฀ 1.18฀ $฀ 1.16
Shareholders฀of฀record฀ ฀ 26,242฀ ฀ 27,555฀ ฀ 28,510฀ ฀ 28,829฀ ฀ 30,524
Market฀price฀–฀High฀ $฀ 29.76฀ $฀ 26.86฀ $฀ 25.45฀ $฀ 24.46฀ $฀ 26.25
฀ ฀ ฀ ฀ Low฀ $฀ 24.85฀ $฀ 23.68฀ $฀ 20.70฀ $฀ 18.37฀ $฀ 19.31
฀ ฀ ฀ ฀ End฀of฀year฀ $฀ 28.25฀ $฀ 25.19฀ $฀ 23.94฀ $฀ 21.50฀ $฀ 21.60
Book฀value฀per฀share฀at฀end฀of฀year฀ $฀ 19.90฀ $฀ 18.05฀ $฀ 16.66฀ $฀ 13.75฀ $฀ 14.31
Price/Earnings฀ratio฀at฀end฀of฀year฀ ฀ 16.42฀ ฀ 15.94฀ ฀ 15.55฀ ฀ 14.83฀ ฀ 14.69
Market/Book฀ratio฀at฀end฀of฀year฀ ฀ 1.42฀ ฀ 1.40฀ ฀ 1.44฀ ฀ 1.56฀ ฀ 1.51
Annualized฀dividend฀yield฀at฀end฀of฀year฀ ฀ 4.4%฀ ฀ 4.8%฀ ฀ 5.0%฀ ฀ 5.5%฀ ฀ 5.4%
Customers฀and฀Volumes฀(As฀metered)
Consolidated฀utility฀gas฀sales฀volumes฀(MMcf)฀296,283฀ ฀ 173,219฀ ฀ 184,512฀ ฀ 145,488฀ ฀ 156,544
Consolidated฀utility฀gas฀transportation฀฀
฀ volumes฀(MMcf)฀ ฀ 114,851฀ ฀ 72,814฀ ฀ 63,453฀ ฀ 63,053฀ ฀ 61,230
฀ Consolidated฀utility฀throughput฀(MMcf)฀ ฀ 411,134฀ ฀ 246,033฀ ฀ 247,965฀ ฀ 208,541฀ ฀ 217,774
Consolidated฀natural฀gas฀marketing฀฀
฀ throughput฀(MMcf)฀ ฀ 238,097฀ ฀ 222,572฀ ฀ 225,961฀ ฀ 204,027฀ ฀ 55,469
Consolidated฀pipeline฀transportation฀฀
฀ volumes฀(MMcf)฀ ฀ 375,604฀ ฀ —฀ ฀ —฀ ฀ —฀ ฀ —฀
Meters฀in฀service฀at฀end฀of฀year฀ ฀ 3,157,840฀ ฀ 1,679,136฀ ฀ 1,672,798฀ ฀ 1,389,341฀ ฀ 1,386,323
Heating฀degree฀days#฀ ฀ 2,587฀ ฀ 3,271฀ ฀ 3,473฀ ฀ 3,368฀ ฀ 4,124
Degree฀days฀as฀a฀percentage฀of฀normal฀ ฀ 89%฀ ฀ 96%฀ ฀ 101%฀ ฀ 94%฀ ฀ 115%
Utility฀average฀cost฀of฀gas฀per฀Mcf฀sold฀ $฀ 7.41฀ $฀ 6.55฀ $฀ 5.76฀ $฀ 3.87฀ $฀ 6.82
Utility฀average฀transportation฀fee฀per฀Mcf฀ $฀ .49฀ $฀ .36฀ $฀ .43฀ $฀ .41฀ $฀ .41
Statistics
Return฀on฀average฀shareholders’฀equity฀ ฀ 9.0%฀ ฀ 9.1%฀ ฀ 9.9%฀ ฀ 9.9%฀ ฀ 10.4%
Number฀of฀employees฀ ฀ 4,543฀ ฀ 2,864฀ ฀ 2,905฀ ฀ 2,338฀ ฀ 2,361฀
Net฀utility฀plant฀per฀meter฀ $฀ 927฀ $฀ 994฀ $฀ 930฀ $฀ 939฀ $฀ 977
Utility฀operation,฀maintenance฀and฀฀
฀ administrative฀expense฀per฀meter฀ $฀ 110฀ $฀ 116฀ $฀ 115฀ $฀ 101฀ $฀ 130+
Meters฀per฀employee฀–฀utility฀ ฀ 730฀ ฀ 612฀ ฀ 594฀ ฀ 616฀ ฀ 603
Times฀interest฀earned฀before฀income฀taxes฀ ฀ 2.59฀ ฀ 3.05฀ ฀ 2.75฀ ฀ 2.55฀ ฀ 2.83฀
The฀matters฀discussed฀or฀incorporated฀by฀reference฀฀
in฀this฀Summary฀Annual฀Report฀may฀contain฀“forward-
looking฀statements”฀within฀the฀meaning฀of฀Section฀฀
27A฀of฀the฀Securities฀Act฀of฀1933฀and฀Section฀21E฀of฀the฀
Securities฀Exchange฀Act฀of฀1934.฀All฀statements฀other฀
than฀statements฀of฀historical฀fact฀included฀in฀this฀report฀
are฀forward-looking฀statements฀made฀in฀good฀faith฀฀
by฀the฀Company฀and฀are฀intended฀to฀qualify฀for฀the฀฀
safe฀harbor฀from฀liability฀established฀by฀the฀Private฀
Securities฀Litigation฀Reform฀Act฀of฀1995.฀When฀used฀in฀
this฀report฀or฀any฀other฀of฀the฀Company’s฀documents฀฀
or฀oral฀presentations,฀the฀words฀“anticipate,”฀“believe,”฀
“estimate,”฀“expect,”฀“forecast,”฀“goal,”฀“intend,”฀
“objective,”฀“plan,”฀“projection,”฀“seek,”฀“strategy”฀or฀
similar฀words฀are฀intended฀to฀identify฀forward-looking฀
statements.฀Such฀forward-looking฀statements฀are฀
subject฀to฀risks฀and฀uncertainties฀that฀could฀cause฀
actual฀results฀to฀differ฀materially฀from฀those฀discussed฀
in฀this฀report.฀These฀risks฀and฀uncertainties฀are฀
discussed฀in฀the฀Company’s฀Form฀10-K฀for฀the฀fiscal฀
year฀ended฀September฀30,฀2005.฀Although฀the฀Company฀
believes฀these฀forward-looking฀statements฀to฀be฀
reasonable,฀there฀can฀be฀no฀assurance฀that฀they฀will฀
approximate฀actual฀experience฀or฀that฀the฀expectations฀
derived฀from฀them฀will฀be฀realized.฀Further,฀the฀
Company฀undertakes฀no฀obligation฀to฀update฀or฀revise฀
any฀of฀its฀forward-looking฀statements,฀whether฀as฀a฀
result฀of฀new฀information,฀future฀events฀or฀otherwise.
*฀In฀conjunction฀with฀the฀adoption฀of฀EITF฀02-03฀in฀fiscal฀2003,฀energy฀trading฀contracts฀resulting฀in฀delivery฀of฀a฀commodity฀where฀we฀are฀the฀principal฀in฀the฀transaction฀are฀included฀as฀฀
operating฀revenues฀or฀purchased฀gas฀cost.฀Fiscal฀years฀2001-2002฀have฀been฀reclassified฀to฀conform฀with฀this฀new฀presentation.
#฀Heating฀degree฀days฀are฀adjusted฀for฀service฀areas฀with฀weather-normalized฀operations.
+฀Adjusted฀for฀partial-year฀results฀of฀Louisiana฀Gas฀Service฀Company,฀which฀was฀acquired฀in฀July฀2001.