Spreadsheet: tracy_geaccone__40345__2002 EREC Preliminary 1015
Sheet: Format

ENRON RENEWABLE ENERGY CORP.
2002 PLAN
RESULTS OF OPERATIONS
(Millions of Dollars)
 |  |  | JAN |  | FEB |  | MAR |  | APR |  | MAY |  | JUN |  | JUL |  | AUG |  | SEP |  | OCT |  | NOV |  | DEC |  | TOTAL |  | 1st Qtr |  | 2nd Qtr |  | [NAME] |  | [NAME] |  | Total
Operating Revenues
 | Unrealized MTM |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Commodity Spot Trading |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Gas Sales |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Electricity Sales |  | 1.3 |  | 1.4 |  | 1.9 |  | 2.2 |  | 2.5 |  | 3 |  | 1.8 |  | 1.3 |  | 1.2 |  | 1.3 |  | 1.5 |  | 1.3
 | Transportation & Transmission |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Services |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Construction |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Fair Value (Unrealized Gain (Loss) on Merchant Assets) |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Gain (Loss) on sales of merchant investments |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Other
Total Revenues
Cost of Sales |  |  | 42.4 |  | 33 |  | 31.4 |  | 39.8 |  | 38.7 |  | 79.9 |  | 41.9 |  | 63.4 |  | 83.5 |  | 119.4 |  | 97.7 |  | 106.4
GROSS MARGIN
Operating Expenses
 | Salaries & Wages
 | Benefits
 | Employee Expenses
 | Outside Services
 | Technology Expense
 | Other Operating Expense
 | Depreciation, depletion & amortization |  | 1.4 |  | 1.4 |  | 1.3 |  | 1.3 |  | 1.4 |  | 1.4 |  | 1.4 |  | 1.5 |  | 1.5 |  | 1.5 |  | 1.5 |  | 1.6
 | Taxes other than income
 |  | Total
OPERATING INCOME
Other Income (Deductions)
 | Equity earnings |  | 0.1 |  | 0.1 |  | 0.2 |  | 0.3 |  | 0.7 |  | 0.7 |  | 0.1 |  | -0.1 |  | -0.1 |  | 0 |  | 0.5 |  | 0.5
 | Dividend and Interest income |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0.1 |  | 0 |  | 0 |  | 0
 | Gain (Loss) on sale of assets |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Other |  | -0.1 |  | 0 |  | 0 |  | 0 |  | 0 |  | -0.1 |  | 0 |  | -0.1 |  | 0 |  | 0 |  | 0 |  | 0
 |  | Total
INCOME BEFORE INTEREST & TAXES
Interest Expense
 | Interest expense - Third Party |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.3 |  | 0.4
 | Interco interest expense/(income)  - Capital Charge |  | 1.4 |  | 1.4 |  | 1.3 |  | 1.4 |  | 1.1 |  | 1.3 |  | 1.1 |  | 1.1 |  | 1.2 |  | 1.2 |  | 1.2 |  | 1.1
 | Interco interest expense/(income)  - Other |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Capitalized interest/AFUDC |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 |  | Total
Minority Interest
 | Structured Transactions |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Other |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 |  | Total
Preferred Dividends |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
INCOME BEFORE INCOME TAXES
Income Taxes
 | Payable currently |  | -2.3 |  | -2.9 |  | 1.4 |  | -1.3 |  | -0.6 |  | 1.7 |  | -1.5 |  | 0.5 |  | 2.4 |  | 7.3 |  | 6.3 |  | 3.4
 | Payment deferred |  | 0 |  | 0 |  | -0.1 |  | -0.1 |  | -0.2 |  | -0.2 |  | -0.1 |  | 0 |  | 0 |  | 0.1 |  | 0 |  | 0.1
 |  | Total
NET INCOME
Adjustments to Net Income
 | Changes in Accounting Principle |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Other |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 |  | Adjusted Net Income
Cash Flow Statement
 |  |  | Jan |  | Feb |  | Mar |  | Apr |  | May |  | Jun |  | July |  | Aug |  | Sept |  | Oct |  | Nov |  | Dec |  | TOTAL |  | 1st Qtr |  | 2nd Qtr |  | [NAME] |  | [NAME] |  | Total
CASH FLOW FROM OPERATING ACTIVITIES
NET INCOME
Other Items not affecting cash:
 | Changes in Accounting Principle
 | Depreciation, depletion & amortization
 | Deferred income taxes
 | Net (gain)/loss on sale of assets
 | Unrealized (gain)/loss on price risk mgmt activities |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Merchant Activities
 |  | Realized (Gains) / Losses on Sales | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 |  | Proceeds from Sales | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 |  | Additions | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 |  | Unrealized (Gains)/ Losses | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Other Operating Activities
 |  | Equity Earnings
 |  | Equity/Partnership Distributions | 1.8 |  | 0 |  | 0 |  | 0 |  | 0.4 |  | 2.7 |  | 0 |  | 0 |  | 0.3 |  | 0 |  | 0.9 |  | 1.8
 |  | Dividends on Pref Securities of Subsidiary Companies
 |  | Income Attributable to Minority Interest
 |  | Other (Including transfers & reclasses; see detail) | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 |  | FUNDS FLOW FROM OPERATIONS
Working Capital Changes:
 | Receivables |  | 12.2 |  | 31.5 |  | 28.3 |  | 5.6 |  | 5.5 |  | -20.4 |  | 17.1 |  | -4.3 |  | -4.7 |  | -60.8 |  | -19.2 |  | 27.3
 | Inventories |  | -11.3 |  | -5.9 |  | -11.2 |  | -19 |  | -31.9 |  | 20.5 |  | -32.2 |  | -15 |  | 3.5 |  | 28.5 |  | 21 |  | 17.8
 | Prepayments |  | 0.2 |  | 0.1 |  | 0.2 |  | 0 |  | 0 |  | 0 |  | 0 |  | -0.1 |  | 0 |  | 0 |  | 0 |  | 0
 | Broker net settlements |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Payables |  | 16.1 |  | -20.1 |  | 9.3 |  | 10 |  | 11 |  | -11.8 |  | 13.1 |  | 4.6 |  | 4.6 |  | -0.9 |  | -12.9 |  | -11.1
 | Accrued Taxes |  | -2.3 |  | -2.9 |  | -2.9 |  | -1.3 |  | -0.6 |  | 0.3 |  | 0.6 |  | 0.5 |  | 1.8 |  | 7.3 |  | 6.3 |  | -8.9
 | Accrued Interest |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Customer Deposits |  | 1 |  | 17 |  | -2.3 |  | -4.6 |  | 8.9 |  | 15.8 |  | 22.6 |  | -14.1 |  | -6.2 |  | -5.7 |  | -2.1 |  | -10.6
 | Changes in Other Current Assets |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Changes in Other Current Liabilities |  | 1.2 |  | 1.2 |  | -3.3 |  | 2 |  | 1.1 |  | 1.3 |  | 1.6 |  | 3 |  | -0.1 |  | 7 |  | 6.1 |  | 4.7
 | TOTAL WORKING CAPITAL CHANGES
CASH FROM OPERATING ACTIVITIES
CASH FLOWS FROM INVESTING
 | Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -2
 | Property Transfers - Intercompany |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Equity Investments |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Proceeds from Sale of Investments |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Cash paid for Business Acquisitions |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Other Investing Activity |  | 0 |  | 0 |  |  |  | 0 |  |  |  |  |  | 0 |  | 0 |  | 0 |  | 0
 | CASH FLOWS FROM INVESTING
CASH FLOWS FROM FINANCING
 | Issuance of Long-term Debt |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 3.5 |  | 0 |  | 0
 | (Repayment) of Long-term Debt |  | -1.2 |  | -0.5 |  | -0.9 |  | 0 |  | 0 |  | -0.2 |  | -0.7 |  | -0.2 |  | -1 |  | -0.4 |  | 0 |  | -0.2
 | Net Increase/(Decrease) [NAME] Debt |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Issuance of Common Stock |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Issuance of Preferred Stock of Subsidiaries |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | [NAME] to Third Parties - Preferred Stock |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | [NAME] to Third Parties - Common Stock
 | [NAME] to Corp |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Net (acquisition) / disposition of Treasury Stock |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Other Financing Activity |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | CASH FLOWS FROM FINANCING
NET CASH FLOW (After Financing Activities)
Cash and Intercompany Activity
 |  |  | Jan |  | Feb |  | Mar |  | Apr |  | May |  | Jun |  | July |  | Aug |  | Sept |  | Oct |  | Nov |  | Dec |  | TOTAL |  | 1st Qtr |  | 2nd Qtr |  | [NAME] |  | [NAME] |  | Total
NET CASH FLOW (After Financing Activities)
CASH FLOWS FROM INTERCOMPANY ACTIVITY
 | Accounts Receivable/Payable - Intercompany |  | -7.4 |  | -13 |  | -10.5 |  | 12.7 |  | 8.7 |  | -7.9 |  | -19.9 |  | 25 |  | -2.4 |  | 9.7 |  | -10.2 |  | -36.4
 | Other Investing Activities-Intercompany |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | Other Financing Activities-Intercompany |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
 | (INCREASE)/DECREASE IN CASH AND NOTE FROM CORPORATE
 |  | Increase/(Decrease) in Restricted/Retained Cash