Spreadsheet: tracy_geaccone__40370__DBTEQTY02
Sheet: NNG-3rd CE 2001

NORTHERN NATURAL GAS COMPANY (Co. 179 & Co. 53K)
2001 ACTUAL / ESTIMATE
INTERCOMPANY FINANCING CALCULATION
 | " 3rd Current Estimate (9/19) " | ACTUAL |  |  |  |  |  |  |  | PRE
 |  | YEAR END | ACT. | ACT. | ACT. | ACT. | ACT. | ACT. | ACT. | ACT.
 |  | 12/31/00 | JAN. | FEB. | MAR. | APR. | MAY | [NAME] | JULY | AUG. | SEP. | OCT. | NOV. | DEC. | 12/31/01
Balance Sheet Data
 | Payable / (Receivable) Corp. - Beg. Balance
 | (Inc.) / Dec. in Check Book Activity         (9/19/01) |  | -50624 | 10151 |  | -47864 | -19184 |  |  |  |  | -3400 | 1500
 | Pay. / (Rec.) - Corp. (Co.011) / Interco.Netting (Co.827) | 573870 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | * Average NNG Group Pay. / (Rec.) Balance
 | Dividends to EPC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Less: Trailblazer / Overthrust Beg. Balance |  | 17179
 | Other |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  | Average Pay. / (Rec.) Balance NNG Only
 | Miscellaneous | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 | Payable / (Receivable) Corp. - End. Balance |  |  |  |  |  |  |  |  |  |  |  |  |  | *
 | Long Term Debt - Beginning Balance | 500000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Rate Case Information (9/00) | Amount | Percent.
 | Principal - External |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  | Long Term Debt (W/O Discount) | 500000
 | - Corporate |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  | Equity - End. Balance (NNG Only)
 | Debt Discount | -334 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total Debt / Equity
 | Miscellaneous | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 | Long Term Debt - Ending Balance
 | Equity - Beginning Balance
 | Net Income |  | 19321 | 18599 | 17521 | 2272 | 813 | 2710 | 1360 | 2327 | 466 | -1366 | 16160 | 16763 |  |  |  |  |  |  |  |  |  |  |  |  | Long Term Debt (W/O Discount) | 600000
 | Dividends to EPC |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  |  |  |  |  |  |  |  |  |  | Equity - End. Balance
 | Ardmore ('95), Lucent & Trail.('98), [NAME] (3/99) | 36396 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 | Misc. (FASB 133) |  | 466 | -133 | -348 | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  |  |  |  |  |  |  |  |  |  | Total Debt / Equity
 | Equity - Ending Balance
 | Total Debt / Equity
[NAME] (Below The Line)
 | Short Term Interest Expense / (Income) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Funds Flow Impact (After Tax)
 | Payable / (Receivable) Corp. - Beg. Balance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Acct. 1466 Only - ($91.0 @ 6%*.6053)
 | Short Term Interest Expense / (Income) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Less: 1460 ($38.8 @ 6%*.6053)
 | Interco. Cash Adjustment (Inc.) / Dec. |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  |  |  |  |  |  |  |  |  |  | Less: 1420 ($39.1 @ 6%*.6053)
 | Payable / (Receivable) Corp. - End. Balance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Add: Assigned Rec. ($1.7*.6053)
 | Average Monthly Balance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Add: 2 Mo. LT Debt ($1.4*.6053)
 | Avg. Short Term Interest Rate (LIBOR-%) | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06
 | Monthly Interest Expense / (Income)
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Principal | Interest
 | 2001 Actual / Estimate (Financing Costs) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Long Term Debt Components | ($000's) | ($000's)
 | [NAME] (External - Note #1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Note #1 @ 8.00% (5/27/92 - 6/1/99) | 0
 | - Interest Expense (External - Note #2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Note #2 @ 6.875% (4/30/93 - 5/1/05) | 100000
 | - Interest Expense (External - Note #4) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Note #3 @ 6.75% (9/4/98 - 9/15/08) | 150000
 | - Unamortized Debt Discount |  | 6 | 6 | 7 | 6 | 7 | 6 | 7 | 6 | 7 | 6 | 7 | 6 |  |  |  | Note #4 @ 7.00% (5/27/99 - 6/1/11) | 250000
 | - Unamortized Debt Expense |  | 21 | 23 | 19 | 21 | 20 | 20 | 20 | 21 | 19 | 21 | 20 | 20 |  |  |  | Note #5 @ 8.0% | 0
 | Short Term Interest Expense / (Income) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Other Issues | 0 | 0
 | - Corporate Tie-In Amount (Actual) |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  | Debt - Discount / Amortization | 0 | 0
 | Assigned Receivables / Other |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  | - Expense | 0 | 0
 | Total Intercompany Impact (Net) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Other | 0 | 0
 | Composite F.I.T. & S.I.T. Tax Impact |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total Annual Interest Accrual
 | Updated Net Financing Costs
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Interest Payments
[NAME] (Above The Line) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Note #1 - June 1 |  | 0
 | Short Term Interest Expense / (Income) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - December 1 |  | 0
 | Beg. Balance - Corp. (Rec.) + Check Book Activity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Note #2 - May 1 |  | 3437
 | - Corp. Pay.+ Co.011 / Netting Co.827 (1 Mo. Lag) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - November 1 |  | 3438
 | Adjusted Beginning Balance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Note #3 - March 15 |  | 5063
 | (Inc.) / Dec. in Check Book Cash (Current Month) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - September 15 |  | 5062
 | Interco. Cash Adjustment (Inc.) / Dec. |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  | Note #4 - June 1 |  | 8750
 | Ending Balance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - December 1 |  | 8750
 | Average Monthly Balance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total Annual Interest Payment
 | Average Short Term Interest Rate (Corp.-%) | 0.06 | 0.0574 | 0.0539 | 0.05 | 0.05 | 0.0416 | 0.0392 | 0.0372 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036
 | Short Term Interest (Inc.) / Exp. Calculation
 | Corporate Tie-In Amount (Act. / Est. Adjust.) |  |  |  |  | -47 | 52 | 48 | 28 | 29 | 47 | 60 | 58 | 45
 | Total Short Term Interest (Inc.) / Exp.
 | Long Term Interest Expense (External - Note #3)
 | Unamortized Debt Expense |  | 11 | 11 | 11 | 10 | 11 | 11 | 11 | 11 | 11 | 10 | 11 | 11
 | Interest Exp. Differential (9.50% vs. 6.75% all in Dec.)
 | Total Intercompany Interest Expense / (Income)
 |  | 34