Eversource 2003 Annual Report Download - page 49

Download and view the complete annual report

Please find page 49 of the 2003 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 85

  • 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
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

47
Consolidated Balance Sheets
At December 31,
(Thousands of Dollars) 2003 2002
Liabilities and Capitalization
Current Liabilities:
Notes payable to banks $ 105,000 $ 56,000
Long-term debt — current portion 64,936 56,906
Accounts payable 768,783 776,219
Accrued taxes 51,598 141,667
Accrued interest 41,653 40,597
Derivative liabilities 164,689 63,900
Other 249,576 208,680
1,446,235 1,343,969
Rate Reduction Bonds 1,729,960 1,899,312
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 1,287,354 1,436,507
Accumulated deferred investment tax credits 102,652 106,471
Deferred contractual obligations 469,218 354,469
Regulatory liabilities 1,164,288 740,195
Other 247,526 270,092
3,271,038 2,907,734
Capitalization:
Long-Term Debt 2,481,331 2,287,144
Preferred Stock of Subsidiaries — Non-redeemable 116,200 116,200
Common Shareholders’ Equity:
Common shares, $5 par value — authorized 225,000,000 shares;
150,398,403 shares issued and 127,695,999 shares outstanding in 2003
and 149,375,847 shares issued and 127,562,031 shares outstanding in 2002 751,992 746,879
Capital surplus, paid in 1,108,924 1,108,338
Deferred contribution plan — employee stock ownership plan (73,694) (87,746)
Retained earnings 808,932 765,611
Accumulated other comprehensive income 25,991 14,927
Treasury stock, 19,518,023 shares in 2003 and 18,022,415 in 2002 (358,025) (337,488)
Common Shareholders’ Equity 2,264,120 2,210,521
Total Capitalization 4,861,651 4,613,865
Commitments and Contingencies (Note 7)
Total Liabilities and Capitalization $11,308,884 $10,764,880
The accompanying notes are an integral part of these consolidated financial statements.