Spreadsheet: mary_fischer__25815__Model from Steve 07_27
Sheet: TD_Sum

Trans & Distrib Summary |  |  |  |  |  |  |  |  | O:\Corporate\Tax\lotus\2001 Current Estimate\2nd CE\Corp Planning Models\[Model from [NAME]
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 Transportation & Storage |  | PORTLAND GENERAL GROUP |  |  |  | TOTAL
 |  |  | ETS |  | PGG
Operating Revenues |  |  | 692.9 |  | 3026.09979142 |  |  |  | 3718.99979142
Cost of Sales |  |  | 32.3 |  | 2407.05416512 |  |  |  | 2439.35416512
GROSS MARGIN |  |  | 660.6 |  | 619.0456262999996 |  |  |  | 1279.6456263
Operating & Processing Expense
 | Operation & maintenance |  | 244.6 |  | 259.19940491 |  |  |  | 503.79940491
 | Compressor fuel expense |  | -18.3 |  | 0 |  |  |  | -18.3
 | Lease and well expense |  | 0 |  | 0 |  |  |  | 0
 | Oil & gas exploration expenses |  | 0 |  | 0 |  |  |  | 0
 | Transmission/compression & storage |  | 23.9 |  | 0 |  |  |  | 23.9
 | Depreciation, depletion & amortization |  | 63.1 |  | 74.93514370000001 |  |  |  | 138.0351437
 | Amortization of fair value adjustment |  | 6 |  | 28.691966 |  |  |  | 34.691966
 | Taxes other than income |  | 45.6 |  | 67.50366930999999 |  |  |  | 113.10366931
 |  | Total | 364.9 |  | 430.33018392 |  |  |  | 795.23018392
OPERATING INCOME |  |  | 295.7 |  | 188.7154423799997 |  |  |  | 484.4154423799996
Other Income (Deductions)
 | Equity earnings |  | 65 |  | 0 |  |  |  | 65
 | Minority interest - EREC / EES |  | 0 |  | 0 |  |  |  | 0
 | Dividend and Interest income |  | 0.4 |  | 0.1246165 |  |  |  | 0.5246165
 | Gain (Loss) on sale of assets |  | 11.2 |  | -8.466999999999999 |  |  |  | 2.733000000000001
 | Other |  | 24.9 |  | 10.33165844 |  |  |  | 35.23165844
 |  | Total | 101.5 |  | 1.989274939999998 |  |  |  | 103.48927494
INCOME BEFORE INTEREST & TAXES |  |  | 397.2 |  | 190.7047173199997 |  |  |  | 587.9047173199996
Interest Expense
 | Interest expense - Third Party |  | 37 |  | 76.71732502751807 |  |  |  | 113.7173250275181
 | Interco interest expense/(income)  - Capital Charge |  | 117 |  | 0 |  |  |  | 117
 | Interco interest expense/(income)  - Other |  | -53.4 |  | -21.637543 |  |  |  | -75.037543
 | Capitalized interest/AFUDC |  | -0.6 |  | -3.854511971830831 |  |  |  | -4.454511971830831
 |  | Total | 100 |  | 51.22527005568725 |  |  |  | 151.2252700556872
Minority Interest
 | Structured Transactions |  | 0 |  | 0 |  |  |  | 0
 | Other |  | 0 |  | 0 |  |  |  | 0
 |  | Total | 0 |  | 0 |  |  |  | 0
Perpetual Preferred Dividends |  |  | 0 |  | 2.325 |  |  |  | 2.325
INCOME BEFORE INCOME TAXES |  |  | 297.2 |  | 137.1544472643124 |  |  |  | 434.3544472643123
Income Taxes
 | Payable currently |  | 76.2 |  | 58.08867199244889 |  |  |  | 134.2886719924489
 | Payment deferred |  | 22.1 |  | -0.9459280447144129 |  |  |  | 21.15407195528558
 |  | Total | 98.3 |  | 57.14274394773448 |  |  |  | 155.4427439477345
NET INCOME |  |  | 198.9 |  | 80.01170331657795 |  |  |  | 278.9117033165779
Trans & Distrib Summary |  |  |  |  |  |  |  |  | O:\Corporate\Tax\lotus\2001 Current Estimate\2nd CE\Corp Planning Models\[Model from [NAME]
2001 CURRENT ESTIMATE |  |  |  |  |  |  |  |  | 2001-07-31 13:32:05.860000
Cash Flow Statement |  |  | TOTAL YEAR 2001
 |  |  | Enron Transportation & Storage |  | PORTLAND GENERAL GROUP |  |  |  | TOTAL
CASH FLOW FROM OPERATING ACTIVITIES
Net Income (excluding changes in accounting principle) |  |  | 194.1 |  | 80.01170331657843 |  |  |  | 274.1117033165784
Items not affecting cash:
 | Depreciation, depletion & amortization |  | 69.1 |  | 103.7271097 |  |  |  | 172.8271097
 | Deferred income taxes |  | 22.2 |  | -1.732949829714413 |  |  |  | 20.46705017028559
 | Equity Earnings |  | -64.9 |  | 0 |  |  |  | -64.9
 | Net (gain)/loss on sale of assets |  | -11.2 |  | 8.367 |  |  |  | -2.832999999999998
 | Unrealized (gain)/loss on price risk mgmt activities |  | 2.775557561562891e-17 |  | 28.7 |  |  |  | 28.7
 | Merchant Activities
 |  | Realized (Gains) / Losses on Sales | 0 |  | 0 |  |  |  | 0
 |  | Proceeds from Sales | 0 |  | 0 |  |  |  | 0
 |  | Additions | 0 |  | 0 |  |  |  | 0
 |  | Unrealized (Gains)/ Losses | 0 |  | 0 |  |  |  | 0
 | Equity/Partnership Distributions |  | 25.7 |  | 0 |  |  |  | 25.7
 | Oil & gas exploration expenses |  | 0 |  | 0 |  |  |  | 0
 | Dividends on Pref Securities of Subsidiary Companies |  | 0 |  | 2.325 |  |  |  | 2.325
 | Income Attributable to Minority Interest |  | 0 |  | 0 |  |  |  | 0
 | Other (Including transfers & reclaesses; see detail) |  | -33.2 |  | -8.8 |  |  |  | -42
 |  | FUNDS FLOW FROM OPERATIONS | 201.8 |  | 212.597863186864 |  |  |  | 414.397863186864
Working Capital Changes:
 | Receivables |  | 0.7999999999999989 |  | -50.15068909449322 |  |  |  | -49.35068909449323
 | Inventories |  | 0 |  | -8.400000000000006 |  |  |  | -8.400000000000006
 | Prepayments |  | 0 |  | -36.1 |  |  |  | -36.1
 | Broker net settlements |  | 0 |  | 0 |  |  |  | 0
 | Payables |  | -30.6 |  | -144.9 |  |  |  | -175.5
 | Accrued Taxes |  | 0.7000000000000011 |  | -2.366342615235757 |  |  |  | -1.666342615235756
 | Accrued Interest |  | -2.8 |  | 4.570325821917807 |  |  |  | 1.770325821917809
 | Customer Deposits |  | 0 |  | 0 |  |  |  | 0
 | Other Changes in Working Capital |  | -15.2 |  | -7.337322560420681 |  |  |  | -22.53732256042068
 | TOTAL WORKING CAPITAL CHANGES |  | -47.1 |  | -244.684028448232 |  |  |  | -291.7840284482319
CASH FROM OPERATING ACTIVITIES |  |  | 154.7 |  | -32.08616526136797 |  |  |  | 122.613834738632
CASH FLOWS FROM INVESTING
 | Proceeds from Sale of Investments |  | 30.6 |  | 26.7 |  |  |  | 57.3
 | Capital Expenditures |  | -182.7 |  | -219.9527380952381 |  |  |  | -402.6527380952381
 | Property Transfers - Intercompany |  | 0 |  | 0 |  |  |  | 0
 | Equity Investments |  | -6 |  | 0 |  |  |  | -6
 | Cash paid for Business Acquisitions |  | 0 |  | 0 |  |  |  | 0
 | Other Investing Activity |  | -26.3 |  | 4.49964567816926 |  |  |  | -21.80035432183074
 | CASH FLOWS FROM INVESTING |  | -184.4 |  | -188.7530924170688 |  |  |  | -373.1530924170688
CASH FLOWS FROM FINANCING
 | Third party debt increase/(decrease) |  | -153.8 |  | 279.6473536586332 |  |  |  | 125.8473536586332
 | Stock (purchases) isssuances |  | 0 |  | 1.499999999999865 |  |  |  | 1.499999999999865
 | Dividends to Corp |  | 0 |  | 0 |  |  |  | 0
 | Dividends on Preferred Stock of Subs |  | 0 |  | -2.3625 |  |  |  | -2.3625
 | [NAME] to Outside |  | 0 |  | 0 |  |  |  | 0
 | Other Financing Activity |  | 0.8 |  | 0 |  |  |  | 0.8
 | CASH FLOWS FROM FINANCING |  | -153 |  | 278.784853658633 |  |  |  | 125.784853658633
NET CASH FLOW (After Financing Activities) |  |  | -182.7 |  | 57.94559598019626 |  |  |  | -124.7544040198038
CASH FLOWS FROM INTERCOMPANY ACTIVITY
 | Accounts Receivable/Payable - Intercompany |  | -10.8 |  | 1.8 |  |  |  | -8.999999999999977
 | Other Investing Activities-Intercompany |  | -0.1 |  | 5.4 |  |  |  | 5.3
 | Other Financing Activities-Intercompany |  | 197.5 |  | -65.1 |  |  |  | 132.4
(INCREASE)/DECREASE IN CASH AND NOTE FROM CORPORATE |  |  | 186.6 |  | -57.9 |  |  |  | 128.7
 |  | Increase/(Decrease) in Restricted/Retained Cash | 3.900000000000006 |  | 0.04559598019626065 |  |  |  | 3.945595980196231