Spreadsheet: mary_fischer__25815__Model from Steve 07_27
Sheet: Corp_Sum

Corporate & Other Summary |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | O:\Corporate\Tax\lotus\2001 Current Estimate\2nd CE\Corp Planning Models\[Model from [NAME] 07_27.xls]Corp_Sum
2001 CURRENT ESTIMATE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2001-07-31 13:32:05.860000
RESULTS OF OPERATIONS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2001-07-31 13:32:05.860000
(Millions of Dollars) |  |  | TOTAL YEAR 2001
 |  |  | Enron Investment Partners |  | Corporate and Other |  | ENRON GLOBAL FINANCE (ECMOTH4-Corp/Other) |  | AZURIX (Equity Earnings) |  | EI Headquarters |  | Cons JE's/Elims (YTD) |  | IVEST 4E/4C (YTD) |  | [NAME]WHOLE4) |  |  |  |  |  |  |  |  |  | TOTAL
 |  |  | EIP |  | CORP |  | ECM_OTH |  | AZURIX |  | EIHDQTR |  | ELIMS [YTD] |  | IVEST [YTD] |  | [NAME] [YTD]
Operating Revenues |  |  | 0 |  | 21.5 |  | 11.3 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 32.8
Cost of Sales |  |  | 0 |  | 5.1 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 5.1
GROSS MARGIN |  |  | 0 |  | 16.4 |  | 11.3 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 27.7
Operating & Processing Expense
 | Operation & maintenance |  | 1.8 |  | 299.5666666666667 |  | 1.7 |  | 0 |  | 0.005111 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 303.0717776666667
 | Compressor fuel expense |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Lease and well expense |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Oil & gas exploration expenses |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Transmission/compression & storage |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Depreciation, depletion & amortization |  | 0 |  | 107.6666666666667 |  | 1.4 |  | 0 |  | 16.9 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 125.9666666666667
 | Amortization of fair value adjustment |  | -4 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -4
 | Taxes other than income |  | 0 |  | 34.46666666666666 |  | 0 |  | 0 |  | 0.026845 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 34.49351166666666
 |  | Total | -2.2 |  | 441.7 |  | 3.1 |  | 0 |  | 16.931956 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 459.531956
OPERATING INCOME |  |  | 2.2 |  | -425.3 |  | 8.2 |  | 0 |  | -16.931956 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -431.831956
Other Income (Deductions)
 | Equity earnings |  | 0 |  | -62.9 |  | 0 |  | -38.5 |  | -0.3 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -101.7
 | Minority interest - EREC / EES |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Dividend and Interest income |  | 0 |  | 9.4 |  | 8.2 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 17.6
 | Gain (Loss) on sale of assets |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Other |  | 0.2 |  | -6.9 |  | 0 |  | 0 |  | 0.9 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -5.8
 |  | Total | 0.2 |  | -60.4 |  | 8.2 |  | -38.5 |  | 0.6 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -89.9
INCOME BEFORE INTEREST & TAXES |  |  | 2.4 |  | -485.7 |  | 16.4 |  | -38.5 |  | -16.331956 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -521.7319560000001
Interest Expense
 | Interest expense - Third Party |  | 0 |  | 265.1 |  | 190.9 |  | 0 |  | 0 |  | 58.39332599999999 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 514.393326
 | Interco interest expense/(income)  - Capital Charge |  | 0 |  | -92.7 |  | 0 |  | 0 |  | 0 |  | -293.1552702503708 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -385.8552702503708
 | Interco interest expense/(income)  - Other |  | 0 |  | 0 |  | -41.6 |  | 0 |  | 14.8 |  | 80.26456702535883 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 53.46456702535883
 | Capitalized interest/AFUDC |  | 0 |  | -17.4 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -17.4
 |  | Total | 0 |  | 155 |  | 149.3 |  | 0 |  | 14.8 |  | -154.497377225012 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 164.602622774988
Minority Interest
 | Structured Transactions |  | 0 |  | 54.5 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 54.5
 | Other |  | 0 |  | 0 |  | 20 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 20
 |  | Total | 0 |  | 54.5 |  | 20 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 74.5
Perpetual Preferred Dividends |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 8.6 |  | 0 |  | 27.113878 |  | 0 |  |  |  |  |  |  |  |  |  | 35.713878
INCOME BEFORE INCOME TAXES |  |  | 2.4 |  | -695.2 |  | -152.9 |  | -38.5 |  | -39.731956 |  | 154.497377225012 |  | -27.113878 |  | 0 |  |  |  |  |  |  |  |  |  | -796.5484567749882
Income Taxes
 | Payable currently |  | 0 |  | 56.8 |  | -24.4 |  | 0 |  | -5.9 |  | 0 |  | -536.90038641 |  | 0 |  |  |  |  |  |  |  |  |  | -510.40038641
 | Payment deferred |  | 0 |  | -234.8 |  | -3.1 |  | 0 |  | -3.2 |  | 0 |  | 462.22869741 |  | 0 |  |  |  |  |  |  |  |  |  | 221.12869741
 |  | Total | 0 |  | -178 |  | -27.5 |  | 0 |  | -9.1 |  | 0 |  | -74.67168900000001 |  | 0 |  |  |  |  |  |  |  |  |  | -289.271689
NET INCOME |  |  | 2.4 |  | -517.2 |  | -125.4 |  | -38.5 |  | -30.631956 |  | 154.497377225012 |  | 47.55781100000002 |  | 0 |  |  |  |  |  |  |  |  |  | -507.2767677749882
Corporate & Other Summary |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | O:\Corporate\Tax\lotus\2001 Current Estimate\2nd CE\Corp Planning Models\[Model from [NAME] 07_27.xls]Corp_Sum
2001 CURRENT ESTIMATE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2001-07-31 13:32:05.860000
Cash Flow Statement |  |  | TOTAL YEAR 2001
 |  |  | Enron Investment Partners |  | Corporate and Other |  | ENRON GLOBAL FINANCE (ECMOTH4-Corp/Other) |  | AZURIX (Equity Earnings) |  | EI Headquarters |  | Cons JE's/Elims (YTD) |  | IVEST 4E/4C (YTD) |  | [NAME]WHOLE4) |  |  |  |  |  |  |  |  |  | TOTAL
CASH FLOW FROM OPERATING ACTIVITIES
Net Income (excluding changes in accounting principle) |  |  | 2.4 |  | -517.2 |  | -125.4 |  | -38.5 |  | -30.631956 |  | 154.4973772250119 |  | 47.55781100000002 |  | 0 |  |  |  |  |  |  |  |  |  | -507.2767677749881
Items not affecting cash:
 | Depreciation, depletion & amortization |  | 0 |  | 107.6666666666667 |  | 1.4 |  | 0 |  | 16.9 |  | 0.001 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 125.9676666666667
 | Deferred income taxes |  | 0 |  | -234.8 |  | -3.1 |  | 0 |  | -3.2 |  | -0.001 |  | 462.22869741 |  | 0 |  |  |  |  |  |  |  |  |  | 221.12769741
 | Equity Earnings |  | 0 |  | 62.9 |  | 0 |  | 38.5 |  | 0.3 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 101.7
 | Net (gain)/loss on sale of assets |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Unrealized (gain)/loss on price risk mgmt activities |  | 0 |  | 87.2 |  | 0 |  | 0 |  | 0 |  | -0.003 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 87.19700000000002
 | Merchant Activities
 |  | Realized (Gains) / Losses on Sales | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 |  | Proceeds from Sales | 0 |  | 2 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 2
 |  | Additions | -2.5 |  | -3.5 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -6
 |  | Unrealized (Gains)/ Losses | -3.2 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -3.2
 | Equity/Partnership Distributions |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Oil & gas exploration expenses |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Dividends on Pref Securities of Subsidiary Companies |  | 0 |  | 0 |  | 0 |  | 0 |  | 8.6 |  | 0 |  | 22.594898 |  | 0 |  |  |  |  |  |  |  |  |  | 31.194898
 | Income Attributable to Minority Interest |  | 0 |  | 54.5 |  | 0 |  | 0 |  | 0 |  | -0.001 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 54.499
 | Other (Including transfers & reclaesses; see detail) |  | 0 |  | 753.1 |  | 0 |  | 0 |  | 15.7 |  | 62.168 |  | -916.0330000000001 |  | 27.559 |  |  |  |  |  |  |  |  |  | -57.50599999999994
 |  | FUNDS FLOW FROM OPERATIONS | -3.3 |  | 311.8666666666668 |  | -127.1 |  | 0 |  | 7.668044000000002 |  | 216.6613772250119 |  | -383.6515935900002 |  | 27.559 |  |  |  |  |  |  |  |  |  | 49.70349430167866
Working Capital Changes:
 | Receivables |  | 0 |  | 239.9 |  | 0 |  | 0 |  | 0.1 |  | 0.003 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 240.003
 | Inventories |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | -0.002 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -0.002
 | Prepayments |  | 0 |  | -5.1 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -5.1
 | Broker net settlements |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | -0.001 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -0.001
 | Payables |  | 0 |  | -3.6 |  | 0 |  | 0 |  | -0.2 |  | 16.596 |  | -0.557 |  | -7.2 |  |  |  |  |  |  |  |  |  | 5.038999999999999
 | Accrued Taxes |  | 0 |  | -289.2 |  | 0 |  | 0 |  | -3.4 |  | 0.002 |  | 446.911 |  | 0 |  |  |  |  |  |  |  |  |  | 154.3130000000001
 | Accrued Interest |  | 0 |  | 20.4 |  | 0 |  | 0 |  | 0 |  | 0.002 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 20.402
 | Customer Deposits |  | 0 |  | 41.5 |  | 0 |  | 0 |  | 0 |  | 0.001 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 41.501
 | Other Changes in Working Capital |  | 0 |  | -74.6 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -74.6
 | TOTAL WORKING CAPITAL CHANGES |  | 0 |  | -70.69999999999987 |  | 0 |  | 0 |  | -3.5 |  | 16.601 |  | 446.354 |  | -7.2 |  |  |  |  |  |  |  |  |  | 381.555
CASH FROM OPERATING ACTIVITIES |  |  | -3.3 |  | 241.1666666666669 |  | -127.1 |  | 0 |  | 4.168044000000002 |  | 233.2623772250119 |  | 62.70240640999981 |  | 20.359 |  |  |  |  |  |  |  |  |  | 431.2584943016788
CASH FLOWS FROM INVESTING
 | Proceeds from Sale of Investments |  | 0 |  | 38.6 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 38.6
 | Capital Expenditures |  | 0 |  | -206.2 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -206.2
 | Property Transfers - Intercompany |  | 0 |  | 40.3 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 40.3
 | Equity Investments |  | 0 |  | -325.8 |  | 0 |  | 0 |  | -3.1 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -328.9
 | Cash paid for Business Acquisitions |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | Other Investing Activity |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 0
 | CASH FLOWS FROM INVESTING |  | 0 |  | -453.1 |  | 0 |  | 0 |  | -3.1 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -456.2
CASH FLOWS FROM FINANCING
 | Third party debt increase/(decrease) |  | 0 |  | 2942.6 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 2942.6
 | Stock (purchases) isssuances |  | 0 |  | 39.1 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 39.1
 | Dividends to Corp |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 245.6 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 245.6
 | Dividends on Preferred Stock of Subs |  | 0 |  | 0 |  | 0 |  | 0 |  | -8.7 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -8.7
 | [NAME] to Outside |  | 0 |  | -250.9 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -250.9
 | Other Financing Activity |  | 3.1 |  | -3.5 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | -0.4
 | CASH FLOWS FROM FINANCING |  | 3.1 |  | 2727.3 |  | 0 |  | 0 |  | -8.7 |  | 245.6 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  | 2967.3
NET CASH FLOW (After Financing Activities) |  |  | -0.2 |  | 2515.366666666666 |  | -127.1 |  | 0 |  | -7.631955999999999 |  | 478.8623772250119 |  | 62.70240640999981 |  | 20.359 |  |  |  |  |  |  |  |  |  | 2942.358494301678
CASH FLOWS FROM INTERCOMPANY ACTIVITY
 | Accounts Receivable/Payable - Intercompany |  | 0.2 |  | -1435.1 |  | 0 |  | 0 |  | 108.5 |  | -1446.055008649999 |  | 85.646 |  | 658.211 |  |  |  |  |  |  |  |  |  | -2028.598008649999
 | Other Investing Activities-Intercompany |  | 0 |  | -1047.4 |  | 0 |  | 0 |  | -8.4 |  | -5556.5 |  | 0.632 |  | 3980.628 |  |  |  |  |  |  |  |  |  | -2631.04
 | Other Financing Activities-Intercompany |  | 0 |  | -832.8 |  | 0 |  | 0 |  | -92.5 |  | 5831.412965850793 |  | -20.996 |  | -4659.198 |  |  |  |  |  |  |  |  |  | 225.9189658507921
(INCREASE)/DECREASE IN CASH AND NOTE FROM CORPORATE |  |  | 0.2 |  | -3315.3 |  | 0 |  | 0 |  | 7.599999999999994 |  | -1171.142042799205 |  | 65.28200000000001 |  | -20.35900000000038 |  |  |  |  |  |  |  |  |  | -4433.719042799206
 |  | Increase/(Decrease) in Restricted/Retained Cash | 0 |  | -799.9333333333338 |  | -127.1 |  | 0 |  | -0.03195600000000454 |  | -692.2796655741934 |  | 127.9844064099998 |  | -3.765876499528531e-13 |  |  |  |  |  |  |  |  |  | -1491.360548497528