Eversource 1999 Annual Report Download - page 36

Download and view the complete annual report

Please find page 36 of the 1999 Eversource annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 60

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60

Accumulated
Capital Deferred Retained Other
Common Surplus, Contribution Earnings Comprehensive
(Thousands of Dollars) Shares Paid In Plan — ESOP (a) Income Total
Balance as of January 1, 1997 $ 680,260 $939,589 $ (176,091) $869,618 $ 498 $2,313,874
Net loss for 1997 (129,962) (129,962)
Cash dividends on common shares —
$0.25 per share (32,134) (32,134)
Issuance of 790,232 common shares,
$5 par value 3,951 2,551 6,502
Allocation of benefits — ESOP (12,238) 21,950 9,712
Capital stock expenses, net 2,592 2,592
Other comprehensive loss (499) (499)
Balance as of December 31, 1997 684,211 932,494 (154,141) 707,522 (1) 2,170,085
Net loss for 1998 (146,753) (146,753)
Issuance of 189,094 common shares,
$5 par value 945 1,714 2,659
Allocation of benefits — ESOP (4,769) 13,522 8,753
Unearned stock compensation (537) (537)
Capital stock expenses, net 3,560 3,560
Gain on equity investment 8,140 8,140
Gain on repurchase of preferred stock 59 59
Other comprehensive income 1,406 1,406
Balance as of December 31, 1998 685,156 940,661 (140,619) 560,769 1,405 2,047,372
Net income for 1999 34,216 34,216
Cash dividends on common shares —
$0.10 per share (13,168) (13,168)
Issuance of 362,565 common shares,
$5 par value 1,813 3,505 5,318
Allocation of benefits — ESOP (3,053) 12,894 9,841
Unearned stock compensation (1,194) (1,194)
Capital stock expenses, net 807 807
Other comprehensive income 119 119
Balance as of December 31, 1999 $ 686,969 $ 940,726 $(127,725) $ 581,817 $ 1,524 $2,083,311
(a) Certain consolidated subsidiaries have dividend restrictions imposed by their long-term debt agreements. These restrictions
also limit the amount of retained earnings available for NU common dividends. At December 31, 1999, retained earnings
available for the payment of dividends totaled $158.5 million.
The accompanying notes are an integral part of these financial statements.
34
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY