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May 30, 2001
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, NW
Washington, DC 20549
INTERIM 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
967,093 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
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 $174,680,000 of guarantees during the quarter ended
3-31-01.
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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 Inc., 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/ J. W. Grossman
----------------------------------------
J. W. Grossman, Vice President
and Controller
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EXHIBIT # 1
NISOURCE INC.
INTERIM REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #4
AMOUNT ISSUED DURING AMOUNT
FIRST OUTSTANDING TYPE OF DEBT
COMPANY QUARTER OF 2001 MARCH 31, 2001 OR SECURITY TERMS
NiSource Finance Corp. 762,532,000 2,202,091,000 Short-term Debt Commercial paper borrowing
With a weighted average
interest rate of 5.86%
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EXHIBIT # 2
NISOURCE INC.
INTERIM REPORT UNDER RULE 24 OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
FILE NO. 70-9681
ITEM #5
INTER-COMPANY DEBT WEIGHTED
OUTSTANDING AVERAGE
LENDING COMPANY BORROWING SUBSIDIARY AT MARCH 31, 2001 INTEREST RATE
NiSource Inc. Northern Indiana Public Service Company 329,539,000 5.79%
NiSource Inc. Kokomo Gas & Fuel Company 5,249,000 5.79%
NiSource Inc. Northern Indiana Fuel and Light 700,000 5.79%
NiSource Inc. Bay State Gas Company 177,200,000 5.79%
Bay State Gas Company Northern Utilities, Inc. 26,250,000 5.79%
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EXHIBIT #3
NiSource Inc.
Interim Report Under Rule 24 of the
Public Utility Holding Company Act of 1935
File No. 70-9681
Item #11
As of March 31, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 15,910,922
Less - accum. provision for depreciation (7,423,450)
--------------------------------------------------------------------------------
Total Utility Plant - net 8,487,472
--------------------------------------------------------------------------------
United States cost center 940,156
Canadian cost center 19,555
Less - accum. provision for depreciation (17,910)
--------------------------------------------------------------------------------
Net Gas and Oil Producing Properties 941,801
--------------------------------------------------------------------------------
Other property, at cost, less accum. provision for depletion 84,550
--------------------------------------------------------------------------------
Total Property, Plant and Equipment 9,513,823
--------------------------------------------------------------------------------
INVESTMENTS:
Investments at equity 44,834
Investments at cost 65,027
Other investments 33,481
Other accounts receivable, non-current 20,397
Net assets of discontinued operations 521,971
Assets held for sale 32,041
--------------------------------------------------------------------------------
Total Investments 717,751
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 111,802
Special funds 1,232
Notes receivable 3,081
Accounts receivable - less reserve 1,803,944
Other receivables 33,659
Gas adjustment clause 179,998
Material and supplies at average cost 71,686
Electric production fuel, at average cost 27,083
Natural gas in storage - weighted average 113,395
Price risk management asset 302,867
Exchange gas receivable 650,804
Prepayments and other 348,676
--------------------------------------------------------------------------------
Total Current Assets 3,648,227
--------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 554,868
Intangible assets 3,620,658
Deferred charges and other 439,936
--------------------------------------------------------------------------------
Total Other Assets 4,615,462
--------------------------------------------------------------------------------
TOTAL ASSETS $ 18,495,263
--------------------------------------------------------------------------------
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--------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shares without par value $ 2,065
Additional paid-in-capital 2,592,698
FAS133 Other comprehensive inc. 28,731
Foreign currency translation adjustment (3,513)
Retained earnings 829,618
Retained earnings - current year 188,825
Dividends: Common shares (119,730)
PREFERRED STOCKS:
Series without mandatory redemption provisions 83,631
Series with mandatory redemption provisions 49,124
Preferred security of a subsidiary trust 345,000
Long-term debt excluding amt due within one year 5,799,340
--------------------------------------------------------------------------------
Total Capitalization 9,795,789
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short-term debt 2,266,538
Accounts payable 741,750
Dividends declared on common and preferred stock 61,358
Customer deposits 33,837
Taxes accrued 357,735
Interest accrued 149,058
Gas cost adjustment clause 203,635
Accrued employment costs 40,692
Risk management liability 244,518
Refunds due customers within one year 8,988
Regulatory liabilities 7,903
Exchange gas payable 389,532
Current deferred revenue 423,314
Accrued deferred income tax 29,094
Other accruals 447,960
--------------------------------------------------------------------------------
Total current liabilities 5,405,912
--------------------------------------------------------------------------------
OTHER:
Risk management liability 28,156
Deferred income taxes 1,866,251
Deferred investment tax credits 112,010
Customer advances 21,099
Deferred credits 358,681
Post retirement benefits accrued 278,203
Regulatory income tax liability 34,904
Base gas sales non-current 11,786
Deferred revenue 526,060
Other non-current liabilities 56,412
--------------------------------------------------------------------------------
Total other 3,293,562
--------------------------------------------------------------------------------
TOTAL LIABILITIES $18,495,263
================================================================================
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EXHIBIT #4
Northern Indiana Public Service Company
Interim Report Under Rule 24 of the
Public Utility Holding Company Act of 1935
File No. 70-9681
Item #11
As of March 31, (in thousands) 2001
-------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 6,116,259
Less - accum. provision for depreciation (3,227,959)
-------------------------------------------------------------------------------
Total Utility Plant - net 2,888,300
-------------------------------------------------------------------------------
Other property, at cost, less accum. depreciation 2,410
-------------------------------------------------------------------------------
Total Property, Plant and Equipment 2,890,710
-------------------------------------------------------------------------------
INVESTMENTS:
Investments at cost 996
-------------------------------------------------------------------------------
Total Investments 996
-------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 15,726
Special funds 1,232
Accounts receivable - less reserve 279,825
Accounts receivable - associated companies 23,609
Gas adjustment clause 104,735
Material and supplies at average cost 45,014
Electric production fuel, at average cost 27,083
Natural gas in storage - weighted average 16,201
Price risk management asset 31,143
Prepayments and other 37,755
-------------------------------------------------------------------------------
Total Current Assets 582,323
-------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 178,231
Deferred charges and other 211,308
-------------------------------------------------------------------------------
Total Other Assets 389,539
-------------------------------------------------------------------------------
TOTAL ASSETS $ 3,863,568
===============================================================================
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CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shares without par value $ 859,488
Additional paid-in-capital 12,525
FAS133 Other comprehensive income 330
Retained earnings 186,360
Retained earnings - current year 87,763
Dividends: Preferred shares (1,881)
Dividends: Common shares (109,000)
PREFERRED STOCKS:
Series without mandatory redemption provisions 81,114
Series with mandatory redemption provisions 49,124
Long-term debt excluding amount due within one year 901,846
--------------------------------------------------------------------------------
Total Capitalization 2,067,669
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Notes payable to associated companies 328,700
Short-term debt 15,000
Accounts payable 146,510
Accounts payable - associated companies 71,786
Sinking funds due in one year 4,578
Dividends declared on common and preferred stock 59,862
Customer deposits 29,497
Taxes accrued 141,656
Interest accrued 14,757
Accrued employment costs 39,892
Price risk management liability 34,981
FAS133 Current regulatory liability 362
Other accruals 39,404
--------------------------------------------------------------------------------
Total current liabilities 926,985
--------------------------------------------------------------------------------
OTHER:
Deferred income taxes 554,694
Deferred investment tax credits 76,708
Deferred credits 52,720
Post retirement benefits accrued 151,170
Other non-current liabilities 33,622
--------------------------------------------------------------------------------
Total other 868,914
--------------------------------------------------------------------------------
TOTAL LIABILITIES $ 3,863,568
================================================================================
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EXHIBIT #5
Bay State Gas Company
Interim Report Under Rule 24 of the
Public Utility Holding Company Act of 1935
File No. 70-9681
Item #11
As of March 31, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 1,120,960
Less - accum. provision for depreciation (243,273)
--------------------------------------------------------------------------------
Total Utility Plant - net 877,687
--------------------------------------------------------------------------------
Other property, at cost, less accum. depreciation 209
--------------------------------------------------------------------------------
Total Property, Plant and Equipment 877,896
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INVESTMENTS:
Investments at equity 112,164
Investments at cost 32
--------------------------------------------------------------------------------
Total Investments 112,196
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 10,946
Notes receivable 167
Accounts receivable - less reserve 109,035
Accounts receivable - associated companies 1,936
Gas adjustment clause 44,659
Material and supplies at average cost 4,538
Natural gas in storage - weighted average 8,551
Prepayments and other 3,579
--------------------------------------------------------------------------------
Total Current Assets 183,411
--------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 8,203
Intangible assets 2,651
Deferred charges and other 39,687
--------------------------------------------------------------------------------
Total Other Assets 50,541
--------------------------------------------------------------------------------
TOTAL ASSETS $ 1,224,044
================================================================================
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--------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Additional paid-in-capital $ 523,773
Retained earnings 5,096
Retained earnings - current year 23,024
Dividends: Common shares (3,000)
Long-term debt excluding amt due within one year 163,500
--------------------------------------------------------------------------------
Total Capitalization 712,393
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short-term debt 15,000
Accounts payable 5,369
Accounts payable - associated companies 15,642
Customer deposits 2,713
Taxes accrued 18,868
Interest accrued 1,146
Refunds due customers within one year 4,426
Notes payable to associated companies 150,468
Other accruals 46,494
--------------------------------------------------------------------------------
Total current liabilities 260,126
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OTHER:
Deferred income taxes 239,303
Deferred investment tax credits 3,267
Other non-current liabilities 8,955
--------------------------------------------------------------------------------
Total other 251,525
--------------------------------------------------------------------------------
TOTAL LIABILITIES $1,224,044
================================================================================
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EXHIBIT #6
Northern Utilities, Inc.
Interim Report Under Rule 24 of the
Public Utility Holding Company Act of 1935
File No. 70-9681
Item #11
As of March 31, (in thousands) 2001
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ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 247,343
Less - accum. provision for depreciation (44,930)
-------------------------------------------------------------------------------
Total Utility Plant - net 202,413
-------------------------------------------------------------------------------
Other property, at cost, less accum. depreciation 2,851
-------------------------------------------------------------------------------
Total Property, Plant and Equipment 205,264
-------------------------------------------------------------------------------
INVESTMENTS:
Investments at cost 2
-------------------------------------------------------------------------------
Total Investments 2
-------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 1,441
Notes receivable 294
Accounts receivable - less reserve 20,465
Accounts receivable - associated companies 2,493
Gas adjustment clause 11,693
Material and supplies at average cost 1,147
Natural gas in storage - weighted average 3,440
Prepayments and other 3,035
-------------------------------------------------------------------------------
Total Current Assets 44,008
-------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 7,892
Intangible assets 1,153
Deferred charges and other 3,471
-------------------------------------------------------------------------------
Total Other Assets 12,516
-------------------------------------------------------------------------------
TOTAL ASSETS $ 261,790
===============================================================================
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CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shares without par value $ 1
Additional paid-in-capital 109,062
Retained earnings (562)
Retained earnings - current year 3,510
Long-term debt excluding amt due within one year 20,500
-------------------------------------------------------------------------------
Total Capitalization 132,511
-------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short-term debt 25,833
Accounts payable 112
Accounts payable - associated companies 310
Customer deposits 668
Taxes accrued 5,249
Interest accrued 357
Refunds due customers within one year 835
Notes payable to associated companies 27,033
Other accruals 17,148
-------------------------------------------------------------------------------
Total current liabilities 77,545
-------------------------------------------------------------------------------
OTHER:
Deferred income taxes 47,467
Deferred investment tax credits 306
Other non-current liabilities 3,961
-------------------------------------------------------------------------------
Total other 51,734
-------------------------------------------------------------------------------
TOTAL LIABILITIES $261,790
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EXHIBIT #7
Kokomo Gas and Fuel Company
Interim Report Under Rule 24 of the
Public Utility Holding Company Act of 1935
File No. 70-9681
Item #11
As of March 31, (in thousands) 2001
-------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 77,212
Less - accum. provision for depreciation (35,509)
--------------------------------------------------------------------------------
Total Utility Plant - net 41,703
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Total Property, Plant and Equipment 41,703
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INVESTMENTS:
Investments at cost 5
--------------------------------------------------------------------------------
Total Investments 5
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CURRENT ASSETS:
Cash and cash equivalents 806
Accounts receivable - less reserve 7,928
Accounts receivable - associated companies 29
Material and supplies at average cost 511
Natural gas in storage - weighted average 676
Gas adjustment clause 4,996
Prepayments and other 51
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Total Current Assets 14,997
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OTHER ASSETS:
Deferred charges and other 63
--------------------------------------------------------------------------------
Total Other Assets 63
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TOTAL ASSETS $ 56,768
================================================================================
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CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shares without par value $ 46,170
Retained earnings (10,331)
Retained earnings - current year 753
Dividends: Common shares (600)
--------------------------------------------------------------------------------
Total Capitalization 35,992
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CURRENT LIABILITIES:
Accounts payable 354
Accounts payable - associated companies 5,883
Customer deposits 477
Taxes accrued 585
Interest accrued 123
Notes payable to associated companies 5,287
Other accruals 1,281
--------------------------------------------------------------------------------
Total current liabilities 13,990
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OTHER:
Deferred income taxes 3,369
Deferred investment tax credits 528
Customer advances 10
Post retirement benefits accrued 317
Regulatory income tax liability 1,477
Other non-current liabilities 1,085
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Total other 6,786
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TOTAL LIABILITIES $ 56,768
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NORTHERN INDIANA FUEL AND LIGHT COMPANY
Interim Report Under Rule 24 of the
Public Utility Holding Company Act of 1935
File No. 70-9681
Item #11
As of March 31, (in thousands) 2001
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ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 70,328
Less - accum. provision for depreciation (23,862)
--------------------------------------------------------------------------------
Total Utility Plant - net 46,466
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Other property, at cost, less accum. depreciation 932
--------------------------------------------------------------------------------
Total Property, Plant and Equipment 47,398
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 351
Accounts receivable - less reserve 10,348
Accounts receivable - associated companies 85
Gas adjustment clause 6,156
Material and supplies at average cost 421
Natural gas in storage - weighted average 921
Prepayments and other 39
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Total Current Assets 18,321
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OTHER ASSETS:
Regulatory assets 157
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Total Other Assets 157
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TOTAL ASSETS $ 65,876
================================================================================
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CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shares without par value $30,674
Retained earnings 12,318
Retained earnings - current year 1,601
--------------------------------------------------------------------------------
Total Capitalization 44,593
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CURRENT LIABILITIES:
Notes payable to associated companies 700
Accounts payable 1,533
Accounts payable - associated companies 3,654
Customer deposits 152
Taxes accrued 2,317
Interest accrued 32
Other accruals 1,967
--------------------------------------------------------------------------------
Total current liabilities 10,355
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OTHER:
Deferred income taxes 4,682
Deferred investment tax credits 345
Customer advances 197
Deferred credits 3,788
Regulatory income tax liability 1,916
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Total other 10,928
--------------------------------------------------------------------------------
TOTAL LIABILITIES $65,876
================================================================================
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