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August 22, 2001
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
218,451 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
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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 no guarantees during the quarter ended 6-30-01.
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
Form U-6B-2 filed on behalf of Northern Utilities, Inc. on June 21,
2001.
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)
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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 SECOND QUARTER OF 2001 JUNE 30, 2001 OR SECURITY TERMS
------------------------------------------------------------------------------------------------------------------------------
NiSource Finance Corp. - 1,937,134,000 Short-term Debt Commercial paper borrowing
with a weighted average
interest rate of 4.27%
NiSource Finance Corp. 300,000,000 6,125,800,000 Long-term Debt Unsecured two-year notes
paying a 5.75% coupon and
maturing April 15, 2003
------------------------------------------------------------------------------------------------------------------------------
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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 JUNE 30, 2001 INTEREST RATE
----------------------------------------------------------------------------------------------------------------------
NiSource Inc. Northern Indiana Public Service Company 344,029,000 4.52%
NiSource Inc. Kokomo Gas & Fuel Company 6,364,000 4.52%
NiSource Inc. Northern Indiana Fuel and Light 500,000 4.52%
NiSource Inc. Bay State Gas Company 106,300,000 4.52%
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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 June 30, (in thousands) 2001
-------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 15,863,653
Accumulated depreciation and amortization (7,507,697)
-------------------------------------------------------------------------------
Net Utility Plant 8,355,956
-------------------------------------------------------------------------------
Gas and oil producing properties, full cost method
United States cost center 961,115
Canadian cost center 21,571
Accumulated depletion (36,752)
-------------------------------------------------------------------------------
Net gas and oil producing properties 945,934
-------------------------------------------------------------------------------
Other property, at cost, less accumulated depreciation 83,257
-------------------------------------------------------------------------------
Net Property, Plant and Equipment 9,385,147
-------------------------------------------------------------------------------
INVESTMENTS:
Net assets of discontinued operations 588,485
Unconsolidated affiliates 103,676
Assets held for sale 100,300
Other investments 49,731
-------------------------------------------------------------------------------
Total Investments 842,192
-------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 142,700
Accounts receivable - less reserve 930,953
Other receivables 30,675
Gas inventory 186,077
Underrecovered gas and fuel costs 74,414
Material and supplies, at average cost 71,619
Electric production fuel, at average cost 33,160
Price risk management asset 479,869
Exchange gas receivable 527,996
Prepayments and other 292,336
-------------------------------------------------------------------------------
Total Current Assets 2,769,799
-------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 522,472
Intangible assets 3,673,064
Deferred charges and other 502,509
-------------------------------------------------------------------------------
Total Other Assets 4,698,045
-------------------------------------------------------------------------------
TOTAL ASSETS $ 17,695,183
================================================================================
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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 June 30, (in thousands) 2001
---------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock Equity $ 3,499,525
Preferred Stocks -
Subsidiary Companies
Series without mandatory redemption provisions 83,631
Series with mandatory redemption provisions 48,824
Company - obligated mandatorily redeemable preferred securities
of subsidiary trust holding solely Company debentures 345,000
Long-term debt, excluding amounts due within one year 6,125,819
---------------------------------------------------------------------------------
Total Capitalization 10,102,799
---------------------------------------------------------------------------------
CURRENT LIABILITIES:
Current portion of long-term debt 97,440
Short-term borrowings 1,937,135
Accounts payable 491,974
Dividends declared on common and preferred stocks 60,799
Customer deposits 34,388
Taxes accrued 195,158
Interest accrued 69,806
Overrecovered gas and fuel costs 119,305
Accrued employment costs 49,801
Price risk management liabilities 352,776
Exchange gas payable 261,571
Current deferred revenue 278,936
Other accruals 426,457
---------------------------------------------------------------------------------
Total current liabilities 4,375,546
---------------------------------------------------------------------------------
OTHER:
Deferred income taxes 1,847,148
Deferred investment tax credits 109,770
Deferred credits 386,237
Non-current deferred revenue 492,995
Accrued liability for post retirement benefits 275,573
Other non-current liabilities 105,115
---------------------------------------------------------------------------------
Total other 3,216,838
---------------------------------------------------------------------------------
TOTAL LIABILITIES $17,695,183
=================================================================================
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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 June 30, (in thousands) 2001
--------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 6,146,055
Accumulated depreciation and amortization (3,272,045)
--------------------------------------------------------------------------------
Net Utility Plant 2,874,010
--------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 5,151
--------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 21,253
Accounts receivable - less reserve 264,512
Gas cost adjustment clause 14,441
Material and supplies, at average cost 45,666
Electric production fuel, at average cost 33,160
Natural gas in storage, at last in, first-out cost 66,326
Price risk management asset 81,079
Prepayments and other 44,862
--------------------------------------------------------------------------------
Total Current Assets 571,299
--------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 179,127
Deferred charges and other 223,255
--------------------------------------------------------------------------------
Total Other Assets 402,382
--------------------------------------------------------------------------------
TOTAL ASSETS $ 3,852,842
================================================================================
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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 June 30, (in thousands) 2001
--------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $1,004,323
Preferred Stocks -
Series without mandatory redemption provisions 81,114
Series with mandatory redemption provisions 48,824
Long-term debt, excluding amount due within one year 863,919
--------------------------------------------------------------------------------
Total Capitalization 1,998,180
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CURRENT LIABILITIES:
Current portion of long-term debt 57,278
Short term borrowings 343,175
Accounts payable 349,604
Dividends declared on common and preferred stock 845
Customer deposits 30,047
Taxes accrued 53,917
Interest accrued 7,988
Fuel adjustment clause 3,279
Accrued employment costs 49,151
Price risk management liabilities 90,428
Other accruals 27,251
--------------------------------------------------------------------------------
Total current liabilities 1,012,963
--------------------------------------------------------------------------------
OTHER:
Deferred income taxes 520,709
Deferred investment tax credits 74,936
Deferred credits 38,999
Accrued liability for post retirement benefits 155,154
Other noncurrent liabilities 51,901
--------------------------------------------------------------------------------
Total other 841,699
--------------------------------------------------------------------------------
TOTAL LIABILITIES $3,852,842
================================================================================
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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 June 30, (in thousands) 2001
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ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 1,129,733
Accumulated depreciation and amortization (250,894)
--------------------------------------------------------------------------------
Net Utility Plant 878,839
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OTHER PROPERTY AND INVESTMENTS 111,476
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CURRENT ASSETS:
Cash and cash equivalents 4,978
Accounts receivable - less reserve 75,558
Gas cost adjustment clause 21,112
Material and supplies, at average cost 4,376
Natural gas in storage - weighted average 22,372
Prepayments and other 3,604
--------------------------------------------------------------------------------
Total Current Assets 132,000
--------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 7,376
Intangible assets 2,444
Deferred charges and other 39,533
--------------------------------------------------------------------------------
Total Other Assets 49,353
--------------------------------------------------------------------------------
TOTAL ASSETS $ 1,171,668
================================================================================
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 541,301
Long-term debt excluding amount due within one year 168,500
--------------------------------------------------------------------------------
Total Capitalization 709,801
--------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short term borrowings 116,760
Accounts payable 27,173
Customer deposits 2,763
Taxes accrued 15,750
Interest accrued 3,851
Refunds due customers within one year 4,900
Other accruals 40,461
--------------------------------------------------------------------------------
Total current liabilities 211,658
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OTHER:
Deferred income taxes 238,658
Deferred investment tax credits 3,174
Other noncurrent liabilities 8,377
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Total other 250,209
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TOTAL LIABILITIES $ 1,171,668
================================================================================
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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 June 30, (in thousands) 2001
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ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 248,857
Accumulated depreciation and amortization (46,630)
--------------------------------------------------------------------------------
Net Utility Plant 202,227
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OTHER PROPERTY AND INVESTMENTS 2,775
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CURRENT ASSETS:
Cash and cash equivalents 2,616
Accounts receivable - less reserve 23,493
Gas cost adjustment clause 10,226
Material and supplies, at average cost 998
Natural gas in storage, weighted average 13,009
Prepayments and other 3,111
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Total Current Assets 53,453
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OTHER ASSETS:
Regulatory assets 7,624
Intangible assets 1,102
Deferred charges and other 3,427
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Total Other Assets 12,153
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TOTAL ASSETS $ 270,608
================================================================================
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 111,164
Long-term debt excluding amount due within one year 20,500
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Total Capitalization 131,664
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CURRENT LIABILITIES:
Short term borrowings 60,833
Accounts payable 7,947
Customer deposits 649
Taxes accrued 3,961
Interest accrued 1,171
Price risk management liabilities 510
Refunds due customers within one year 835
Other accruals 11,033
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Total current liabilities 86,939
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OTHER:
Deferred income taxes 47,909
Deferred investment tax credits 301
Other non-current liabilities 3,795
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Total other 52,005
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TOTAL LIABILITIES $ 270,608
================================================================================
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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 June 30, (in thousands) 2001
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ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 77,640
Accumulated depreciation and amortization (36,087)
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Net Utility Plant 41,553
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OTHER PROPERTY AND INVESTMENTS 5
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CURRENT ASSETS:
Cash and cash equivalents 2,080
Accounts receivable - less reserve 2,903
Gas cost adjustment clause 5,158
Material and supplies, at average cost 484
Natural gas in storage - weighted average 706
Prepayments and other 16
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Total Current Assets 11,347
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OTHER ASSETS:
Deferred charges and other 56
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Total Other Assets 56
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TOTAL ASSETS $ 52,961
================================================================================
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 35,411
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Total Capitalization 35,411
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CURRENT LIABILITIES:
Short term borrowings 6,400
Accounts payable 2,752
Customer deposits 480
Interest accrued 124
Other accruals 987
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Total current liabilities 10,743
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OTHER:
Deferred income taxes 3,369
Deferred investment tax credits 519
Post retirement benefits accrued 332
Regulatory income tax liability 1,477
Other non-current liabilities 1,110
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Total other 6,807
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TOTAL LIABILITIES $ 52,961
================================================================================
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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 June 30, (in thousands) 2001
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ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 70,696
Accumulated depreciation and amortization (24,338)
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Net Utility Plant 46,358
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OTHER PROPERTY AND INVESTMENTS 936
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CURRENT ASSETS:
Cash and cash equivalents 213
Accounts receivable - less reserve 3,482
Gas adjustment clause 6,571
Material and supplies, at average cost 418
Natural gas in storage - weighted average 3,851
Prepayments and other 55
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Total Current Assets 14,590
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OTHER ASSETS:
Regulatory assets 145
Deferred charges and other 165
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Total Other Assets 310
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TOTAL ASSETS $ 62,194
================================================================================
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 44,848
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Total Capitalization 44,848
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CURRENT LIABILITIES:
Notes payable to associated companies 500
Accounts payable 2,464
Customer deposits 150
Taxes accrued 1,616
Other accruals 1,902
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Total current liabilities 6,632
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OTHER:
Deferred income taxes 4,735
Deferred investment tax credits 345
Deferred credits 3,509
Regulatory income tax liability 2,125
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Total other 10,714
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TOTAL LIABILITIES $ 62,194
================================================================================
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