Attached is a file showing depreciation for NNG Commercial after excluding depreciation for the capital dollars associated with rate case settlement (lines 13-16). The 2002 depreciation is calculated to be $4.379 million. I think philosophically it s a good idea to track capital projects within NNG Commercial based on the life of the contracts used to justify the project. I don't think Neubauer is quite there yet. My concern is that we have developed an IBIT target for 2002 by using a 2001 number that does not include depreciation. It seems that we ought to offset the 01 starting point by the amount of the 02 depreciation. Lets talk further with Rod.
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Depreciation