March 21, 2002
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, NW
Washington, DC 20549
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
NISOURCE INC.
801 E. 86TH AVE.
MERRILLVILLE, IN 46410
FILE NO. 70-9681
Gentlemen:
In compliance with the terms and conditions of Rule 24 under the Public
Utility Holding Company Act of 1935, and the Order of the Commission dated
November 1, 2000, authorizing the financing transactions and business activities
as more fully described in the Joint Application/Declaration, as amended, the
undersigned hereby certifies to the Commission that:
1. The sales of any common stock and the purchase price per share and the
market price per share at the date of the agreement of sale
None.
2. The total number of shares of common stock issued or issuable under
options granted during the quarter under NiSource Inc.'s benefit plans or
otherwise
90,546 shares.
3. If common stock has been transferred to a seller of securities of a
company being acquired, the number of shares so issued, the value per
share and whether the shares are restricted to the acquirer
None.
4. The amount and terms of any long-term debt, preferred stock or other
preferred or equity-linked securities, or short-term debt, issued directly
or indirectly by NiSource during the quarter
Please see Exhibit 1.
5. The amount and terms of any short-term debt issued directly or indirectly
by any utility subsidiary during the quarter
Please see Exhibit 2.
6. The amount and terms of any financing consummated by any non-utility
subsidiary during the quarter that are not exempt under rule 52
None.
1
7. The name of the guarantor and of the beneficiary of any NiSource guarantee
or non-utility subsidiary guarantee issued during the quarter, and the
amount, terms and purpose of the guarantee
NiSource issued $30,220,000 of guarantees during the quarter ended
12-31-01.
8. The notional amount and principal terms of any interest rate hedge or
anticipatory hedge entered into during the quarter and the identity of the
parties to such instruments
None.
9. The name, parent company, and amount invested in any new intermediate
subsidiary or financing subsidiary during the quarter
None.
10. A list of Form U-6B-2 statements filed with the commission during the
quarter, including the name of the filing entity and the date of the
filing
None.
11. Consolidated balance sheets as of the end of the quarter, and separate
balance sheets as of the end of the quarter for each company, including
NiSource, that has engaged in financing transactions during the quarter
Please see the attached balance sheets for NiSource, Northern
Indiana Public Service Company, Bay State Gas Company, Northern
Utilities, Kokomo Gas and Fuel and Northern Indiana Fuel and Light.
Very truly yours,
NiSource Inc.
By: /s/ Jeffrey W. Grossman
---------------------------------
Jeffrey W. Grossman
Vice President and Controller
(Principal Accounting Officer
and Duly Authorized Officer)
2
EXHIBIT #1
NISOURCE INC.
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #4
AMOUNT ISSUED DURING AMOUNT OUTSTANDING TYPE OF DEBT
COMPANY FOURTH QUARTER OF 2001 DECEMBER 31, 2001 OR SECURITY TERMS
------------------------------------------------------------------------------------------------------------------------------------
NiSource Finance Corp. - 1,004,300,000 Short-term Debt Commercial paper borrowing
with a weighted average
interest rate of 3.14%
NiSource Finance Corp. - 850,000,000 Short-term Debt Credit facility advances with
a weighted average interest
rate of 2.58%
NiSource Finance Corp. - 5,780,000,000 Long-term Debt Various maturity dates and
weighted average interest rates
------------------------------------------------------------------------------------------------------------------------------------
3
EXHIBIT #2
NISOURCE INC.
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #5
INTER-COMPANY DEBT
OUTSTANDING AT WEIGHTED AVERAGE
LENDING COMPANY BORROWING SUBSIDIARY DECEMBER 31, 2001 INTEREST RATE
-----------------------------------------------------------------------------------------------------------------
NiSource Finance Corp. Northern Indiana Public Service Company 336,308,000 2.90%
NiSource Finance Corp. Kokomo Gas & Fuel Company 1,015,000 2.90%
NiSource Finance Corp. Northern Indiana Fuel and Light 4,014,000 2.90%
NiSource Finance Corp. Bay State Gas Company 140,250,000 2.90%
-----------------------------------------------------------------------------------------------------------------
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EXHIBIT #3
NISOURCE INC.
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #11
As of December, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 16,078,939
Accumulated depreciation and amortization (7,616,475)
--------------------------------------------------------------------------------
Net Utility Plant 8,462,464
--------------------------------------------------------------------------------
Gas and oil producing properties, full cost method
United States cost center 1,011,461
Canadian cost center 22,361
Accumulated depletion (74,598)
--------------------------------------------------------------------------------
Net gas and oil producing properties 959,224
--------------------------------------------------------------------------------
Other property, at cost, less accumulated depreciation 132,975
--------------------------------------------------------------------------------
Net Property, Plant and Equipment 9,554,663
--------------------------------------------------------------------------------
INVESTMENTS:
Net assets of discontinued operations 375,015
Unconsolidated affiliates 123,953
Assets held for sale 15,395
Other investments 47,782
--------------------------------------------------------------------------------
Total Investments 562,145
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 127,881
Accounts receivable - less reserve 937,749
Other receivables 10,139
Gas inventory 377,666
Underrecovered gas and fuel costs 129,388
Material and supplies, at average cost 73,295
Electric production fuel, at average cost 29,153
Price risk management asset 299,218
Exchange gas receivable 186,761
Prepayments and other 395,431
--------------------------------------------------------------------------------
Total Current Assets 2,566,681
--------------------------------------------------------------------------------
OTHER ASSETS:
Price risk asset long term 19,095
Regulatory assets 521,736
Intangible assets 3,737,936
Deferred charges and other 411,872
--------------------------------------------------------------------------------
Total Other Assets 4,690,639
--------------------------------------------------------------------------------
TOTAL ASSETS $ 17,374,128
================================================================================
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EXHIBIT #3
NISOURCE INC.
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #11
As of December 31, (in thousands) 2001
--------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock Equity $ 3,469,440
Preferred Stocks -
Subsidiary Companies
Series without mandatory redemption provisions 83,631
Series with mandatory redemption provisions 4,969
Company - obligated mandatorily redeemable preferred securities
of subsidiary trust holding solely Company debentures 345,000
Long-term debt, excluding amounts due within one year 5,780,762
--------------------------------------------------------------------------------
Total Capitalization 9,683,802
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Current portion of long-term debt 441,256
Short-term borrowings 1,854,282
Accounts payable 646,603
Dividends declared on common and preferred stocks 1,748
Customer deposits 36,289
Taxes accrued 274,741
Interest accrued 79,583
Overrecovered gas and fuel costs 49,317
Price risk management liabilities 242,355
Exchange gas payable 287,221
Current deferred revenue 89,020
Other accruals 726,218
--------------------------------------------------------------------------------
Total current liabilities 4,728,633
--------------------------------------------------------------------------------
OTHER:
Price risk management liabilities 11,351
Deferred income taxes 1,726,292
Deferred investment tax credits 105,246
Deferred credits 352,468
Non-current deferred revenue 435,440
Accrued liability for post retirement benefits 277,661
Other non-current liabilities 53,235
--------------------------------------------------------------------------------
Total other 2,961,693
--------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $17,374,128
================================================================================
6
EXHIBIT #4
NORTHERN INDIANA PUBLIC SERVICE COMPANY
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #11
As of December 31, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 6,218,991
Accumulated depreciation and amortization (3,357,201)
--------------------------------------------------------------------------------
Net Utility Plant 2,861,790
--------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 8,144
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 15,945
Accounts receivable - less reserve 116,433
Gas cost adjustment clause 28,217
Material and supplies, at average cost 44,674
Electric production fuel, at average cost 29,152
Natural gas in storage, at last in, first-out cost 104,706
Prepayments and other 40,339
--------------------------------------------------------------------------------
Total Current Assets 379,466
--------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 165,519
Deferred charges and other 194,288
--------------------------------------------------------------------------------
Total Other Assets 359,807
--------------------------------------------------------------------------------
TOTAL ASSETS $ 3,609,207
================================================================================
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EXHIBIT #4
NORTHERN INDIANA PUBLIC SERVICE COMPANY
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #11
As of December 31, (in thousands) 2001
----------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $1,036,314
Preferred Stocks -
Series without mandatory redemption provisions 81,114
Series with mandatory redemption provisions 4,969
Long-term debt, excluding amount due within one year 843,064
----------------------------------------------------------------------------------
Total Capitalization 1,965,461
----------------------------------------------------------------------------------
CURRENT LIABILITIES:
Current redeemable preferred stock subject to mandatory redemption 43,000
Current portion of long-term debt 59,000
Short term borrowings 335,415
Accounts payable 145,836
Dividends declared on common and preferred stock 1,748
Customer deposits 31,830
Taxes accrued 195,395
Interest accrued 7,825
Fuel adjustment clause 3,665
Accrued employment costs 34,075
Price risk management liabilities 5,609
Other accruals 24,655
----------------------------------------------------------------------------------
Total current liabilities 888,053
----------------------------------------------------------------------------------
OTHER:
Deferred income taxes 464,656
Deferred investment tax credits 71,392
Deferred credits 48,963
Accrued liability for post retirement benefits 160,768
Other noncurrent liabilities 9,914
----------------------------------------------------------------------------------
Total other 755,693
----------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $3,609,207
==================================================================================
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EXHIBIT #5
BAY STATE GAS COMPANY
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #11
As of December 31, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 1,132,875
Accumulated depreciation and amortization (256,832)
--------------------------------------------------------------------------------
Net Utility Plant 876,043
--------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 111,334
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 1,412
Accounts receivable - less reserve 101,620
Gas cost adjustment clause 28,039
Material and supplies, at average cost 4,299
Natural gas in storage - weighted average 22,458
Prepayments and other 3,809
--------------------------------------------------------------------------------
Total Current Assets 161,637
--------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 7,741
Intangible assets 2,030
Deferred charges and other 33,130
--------------------------------------------------------------------------------
Total Other Assets 42,901
--------------------------------------------------------------------------------
TOTAL ASSETS $ 1,191,915
================================================================================
--------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 534,381
Long-term debt excluding amt due within one year 95,500
--------------------------------------------------------------------------------
Total Capitalization 629,881
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short term borrowings 193,585
Accounts payable 43,705
Customer deposits 3,002
Taxes accrued 4,821
Interest accrued 3,069
Refunds due customers within one year 5,414
Other accruals 51,975
--------------------------------------------------------------------------------
Total current liabilities 305,571
--------------------------------------------------------------------------------
OTHER:
Deferred income taxes 244,910
Deferred investment tax credits 2,987
Other noncurrent liabilities 8,566
--------------------------------------------------------------------------------
Total other 256,463
--------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,191,915
================================================================================
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EXHIBIT #6
NORTHERN UTILITIES, INC.
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #11
As of December 31, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 252,240
Accumulated depreciation and amortization (48,681)
--------------------------------------------------------------------------------
Net Utility Plant 203,559
--------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 2,488
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 58
Accounts receivable - less reserve 37,733
Gas cost adjustment clause 10,788
Material and supplies, at average cost 818
Natural gas in storage, weighted average 18,336
Prepayments and other 3,132
--------------------------------------------------------------------------------
Total Current Assets 70,865
--------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 8,674
Intangible assets 1,071
Deferred charges and other 2,943
--------------------------------------------------------------------------------
Total Other Assets 12,688
--------------------------------------------------------------------------------
TOTAL ASSETS $ 289,600
================================================================================
--------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 111,095
Long-term debt excluding amt due within one year 18,833
--------------------------------------------------------------------------------
Total Capitalization 129,928
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short term borrowings 60,833
Accounts payable 20,975
Customer deposits 793
Taxes accrued 3,031
Interest accrued 1,157
Price risk management liabilities 777
Refunds due customers within one year 936
Other accruals 18,066
--------------------------------------------------------------------------------
Total current liabilities 106,568
--------------------------------------------------------------------------------
OTHER:
Deferred income taxes 49,753
Deferred investment tax credits 288
Other non-current liabilities 3,063
--------------------------------------------------------------------------------
Total other 53,104
--------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 289,600
================================================================================
10
EXHIBIT #7
KOKOMO GAS AND FUEL COMPANY
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #11
As of December 31, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 78,309
Accumulated depreciation and amortization (36,732)
--------------------------------------------------------------------------------
Net Utility Plant 41,577
--------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 5
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 1,508
Accounts receivable - less reserve 3,852
Gas cost adjustment clause 2,298
Material and supplies, at average cost 403
Natural gas in storage - weighted average 773
Prepayments and other 32
--------------------------------------------------------------------------------
Total Current Assets 8,866
--------------------------------------------------------------------------------
OTHER ASSETS:
Deferred charges and other 68
--------------------------------------------------------------------------------
Total Other Assets 68
--------------------------------------------------------------------------------
TOTAL ASSETS $ 50,516
================================================================================
--------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 34,418
--------------------------------------------------------------------------------
Total Capitalization 34,418
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short term borrowings 1,015
Accounts payable 5,657
Customer deposits 493
Interest accrued 130
Other accruals 1,161
--------------------------------------------------------------------------------
Total current liabilities 8,456
--------------------------------------------------------------------------------
OTHER:
Deferred income taxes 4,158
Deferred investment tax credits 501
Post retirement benefits accrued 386
Regulatory income tax liability 1,477
Other non-current liabilities 1,120
--------------------------------------------------------------------------------
Total other 7,642
--------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 50,516
================================================================================
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EXHIBIT #8
NORTHERN INDIANA FUEL AND LIGHT COMPANY
QUARTERLY REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #11
As of December 31, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 71,541
Accumulated depreciation and amortization (25,041)
--------------------------------------------------------------------------------
Net Utility Plant 46,500
--------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 738
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 617
Accounts receivable - less reserve 7,833
Gas adjustment clause 5,169
Material and supplies, at average cost 409
Natural gas in storage - weighted average 5,587
Prepayments and other 82
--------------------------------------------------------------------------------
Total Current Assets 19,697
--------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 132
Deferred charges and other 335
--------------------------------------------------------------------------------
Total Other Assets 467
--------------------------------------------------------------------------------
TOTAL ASSETS $ 67,402
================================================================================
--------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 45,390
--------------------------------------------------------------------------------
Total Capitalization 45,390
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Notes payable to associated companies 4,000
Accounts payable 4,440
Customer deposits 157
Taxes accrued 945
Other accruals 1,584
--------------------------------------------------------------------------------
Total current liabilities 11,126
--------------------------------------------------------------------------------
OTHER:
Deferred income taxes 4,537
Deferred investment tax credits 302
Deferred credits 3,959
Regulatory income tax liability 2,088
--------------------------------------------------------------------------------
Total other 10,886
--------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 67,402
================================================================================
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