November 27, 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
54,499 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 no guarantees during the quarter ended 9-30-01.
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
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 THIRD QUARTER OF 2001 SEPTEMBER 30, 2001 OR SECURITY TERMS
------------------------------------------------------------------------------------------------------------------------------------
NiSource Finance Corp. - 1,863,856,000 Short-term Debt Commercial paper borrowing
with a weighted average
interest rate of 3.52%
NiSource Finance Corp. - 6,112,800,000 Long-term Debt Unsecured two-year notes
paying a 5.75% coupon and
maturing April 15, 2003
------------------------------------------------------------------------------------------------------------------------------------
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 SEPTEMBER 30, 2001 INTEREST RATE
---------------------------------------------------------------------------------------------------------------------------
NiSource Inc. Northern Indiana Public Service Company 323,561,000 3.78%
NiSource Inc. Kokomo Gas & Fuel Company 3,982,000 3.78%
NiSource Inc. Northern Indiana Fuel and Light 4,424,000 3.78%
NiSource Inc. Bay State Gas Company 123,750,000 3.78%
---------------------------------------------------------------------------------------------------------------------------
4
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 September, (in thousands) 2001
---------------------------------------------------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 16,026,204
Accumulated depreciation and amortization (7,572,530)
---------------------------------------------------------------------------------------------------------------------------
Net Utility Plant 8,453,674
---------------------------------------------------------------------------------------------------------------------------
Gas and oil producing properties, full cost method
United States cost center 985,278
Canadian cost center 21,484
Accumulated depletion (95,685)
---------------------------------------------------------------------------------------------------------------------------
Net gas and oil producing properties 911,077
---------------------------------------------------------------------------------------------------------------------------
Other property, at cost, less accumulated depreciation 83,911
---------------------------------------------------------------------------------------------------------------------------
Net Property, Plant and Equipment 9,448,662
---------------------------------------------------------------------------------------------------------------------------
INVESTMENTS:
Net assets of discontinued operations 366,742
Unconsolidated affiliates 156,585
Assets held for sale 19,768
Other investments 47,125
---------------------------------------------------------------------------------------------------------------------------
Total Investments 590,220
---------------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 117,655
Accounts receivable - less reserve 766,999
Other receivables 19,748
Gas inventory 499,317
Underrecovered gas and fuel costs 73,337
Material and supplies, at average cost 79,001
Electric production fuel, at average cost 24,581
Price risk management asset 439,459
Exchange gas receivable 275,475
Prepayments and other 338,776
---------------------------------------------------------------------------------------------------------------------------
Total Current Assets 2,634,348
---------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS:
Price risk asset long term 20,401
Regulatory assets 521,338
Intangible assets 3,703,716
Deferred charges and other 403,295
---------------------------------------------------------------------------------------------------------------------------
Total Other Assets 4,648,750
---------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 17,321,980
===========================================================================================================================
5
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 September 30, (in thousands) 2001
---------------------------------------------------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock Equity $ 3,411,866
Preferred Stocks -
Subsidiary Companies
Series without mandatory redemption provisions 83,631
Series with mandatory redemption provisions 48,524
Company - obligated mandatorily redeemable preferred securities
of subsidiary trust holding solely Company debentures 345,000
Long-term debt, excluding amounts due within one year 6,112,800
---------------------------------------------------------------------------------------------------------------------------
Total Capitalization 10,001,821
---------------------------------------------------------------------------------------------------------------------------
CURRENT LIABILITIES:
Current portion of long-term debt 87,114
Short-term borrowings 1,863,856
Accounts payable 531,730
Dividends declared on common and preferred stocks 64,741
Customer deposits 35,533
Taxes accrued 197,690
Interest accrued 161,133
Overrecovered gas and fuel costs 161,692
Accrued employment costs 51,354
Price risk management liabilities 353,595
Exchange gas payable 205,593
Current deferred revenue 87,619
Other accruals 540,072
---------------------------------------------------------------------------------------------------------------------------
Total current liabilities 4,341,722
---------------------------------------------------------------------------------------------------------------------------
OTHER:
Deferred income taxes 1,741,274
Deferred investment tax credits 107,579
Deferred credits 298,233
Non-current deferred revenue 464,596
Accrued liability for post retirement benefits 277,281
Other non-current liabilities 89,474
---------------------------------------------------------------------------------------------------------------------------
Total other 2,978,437
---------------------------------------------------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 17,321,980
===========================================================================================================================
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 September 30, (in thousands) 2001
---------------------------------------------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 6,174,508
Accumulated depreciation and amortization (3,317,466)
---------------------------------------------------------------------------------------------------------------------
Net Utility Plant 2,857,042
---------------------------------------------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 5,866
---------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 21,126
Accounts receivable - less reserve 189,445
Material and supplies, at average cost 45,451
Electric production fuel, at average cost 24,581
Natural gas in storage, at last in, first-out cost 112,844
Price risk management asset 62,075
Prepayments and other 45,721
---------------------------------------------------------------------------------------------------------------------
Total Current Assets 501,243
---------------------------------------------------------------------------------------------------------------------
OTHER ASSETS:
Price risk asset long term 4,168
Regulatory assets 177,891
Deferred charges and other 193,839
---------------------------------------------------------------------------------------------------------------------
Total Other Assets 375,898
---------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 3,740,049
=====================================================================================================================
7
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 September 30, (in thousands) 2001
---------------------------------------------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 986,786
Preferred Stocks -
Series without mandatory redemption provisions 81,114
Series with mandatory redemption provisions 48,524
Long-term debt, excluding amount due within one year 847,492
---------------------------------------------------------------------------------------------------------------------
Total Capitalization 1,963,916
---------------------------------------------------------------------------------------------------------------------
CURRENT LIABILITIES:
Current portion of long-term debt 58,578
Short term borrowings 322,685
Accounts payable 247,799
Dividends declared on common and preferred stock 55,771
Customer deposits 31,106
Taxes accrued 150,621
Interest accrued 14,947
Fuel adjustment clause 8,490
Accrued employment costs 50,455
Price risk management liabilities 89,137
Other accruals 6,452
---------------------------------------------------------------------------------------------------------------------
Total current liabilities 1,036,041
---------------------------------------------------------------------------------------------------------------------
OTHER:
Deferred income taxes 452,190
Deferred investment tax credits 73,164
Deferred credits 35,009
Accrued liability for post retirement benefits 157,911
Other noncurrent liabilities 21,818
---------------------------------------------------------------------------------------------------------------------
Total other 740,092
---------------------------------------------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 3,740,049
=====================================================================================================================
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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 September 30, (in thousands) 2001
-------------------------------------------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 1,125,482
Accumulated depreciation and amortization (251,474)
-------------------------------------------------------------------------------------------------------------------
Net Utility Plant 874,008
-------------------------------------------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 110,498
-------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 5,461
Accounts receivable - less reserve 51,866
Gas cost adjustment clause 37,563
Material and supplies, at average cost 9,846
Natural gas in storage - weighted average 29,167
Prepayments and other 3,818
-------------------------------------------------------------------------------------------------------------------
Total Current Assets 137,721
-------------------------------------------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 7,687
Intangible assets 2,237
Deferred charges and other 39,218
-------------------------------------------------------------------------------------------------------------------
Total Other Assets 49,142
-------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 1,171,369
===================================================================================================================
-------------------------------------------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 527,354
Long-term debt excluding amt due within one year 143,500
-------------------------------------------------------------------------------------------------------------------
Total Capitalization 670,854
-------------------------------------------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short term borrowings 148,758
Accounts payable 19,073
Dividends declared on common and preferred stock 3,000
Customer deposits 2,832
Taxes accrued 7,123
Interest accrued 3,604
Refunds due customers within one year 5,299
Other accruals 60,235
-------------------------------------------------------------------------------------------------------------------
Total current liabilities 249,924
-------------------------------------------------------------------------------------------------------------------
OTHER:
Deferred income taxes 238,936
Deferred investment tax credits 3,127
Other noncurrent liabilities 8,528
-------------------------------------------------------------------------------------------------------------------
Total other 250,591
-------------------------------------------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,171,369
===================================================================================================================
9
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 September 30, (in thousands) 2001
-------------------------------------------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 250,429
Accumulated depreciation and amortization (47,968)
-------------------------------------------------------------------------------------------------------------------
Net Utility Plant 202,461
-------------------------------------------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 2,601
-------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 2,870
Accounts receivable - less reserve 14,051
Gas cost adjustment clause 11,894
Material and supplies, at average cost 881
Natural gas in storage, weighted average 18,778
Prepayments and other 3,089
-------------------------------------------------------------------------------------------------------------------
Total Current Assets 51,563
-------------------------------------------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 7,043
Intangible assets 1,116
Deferred charges and other 3,386
-------------------------------------------------------------------------------------------------------------------
Total Other Assets 11,545
-------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 268,170
===================================================================================================================
-------------------------------------------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 109,106
Long-term debt excluding amt due within one year 19,667
-------------------------------------------------------------------------------------------------------------------
Total Capitalization 128,773
-------------------------------------------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short term borrowings 60,833
Accounts payable 10,031
Customer deposits 742
Taxes accrued 3,594
Interest accrued 1,603
Price risk management liabilities 1,576
Refunds due customers within one year 835
Other accruals 8,921
-------------------------------------------------------------------------------------------------------------------
Total current liabilities 88,135
-------------------------------------------------------------------------------------------------------------------
OTHER:
Deferred income taxes 47,902
Deferred investment tax credits 299
Other non-current liabilities 3,061
-------------------------------------------------------------------------------------------------------------------
Total other 51,262
-------------------------------------------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 268,170
===================================================================================================================
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 September 30, (in thousands) 2001
--------------------------------------------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 78,280
Accumulated depreciation and amortization (36,679)
--------------------------------------------------------------------------------------------------------------------
Net Utility Plant 41,601
--------------------------------------------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 5
--------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 1,275
Accounts receivable - less reserve 738
Gas cost adjustment clause 4,964
Material and supplies, at average cost 474
Natural gas in storage - weighted average 644
Prepayments and other 45
--------------------------------------------------------------------------------------------------------------------
Total Current Assets 8,140
--------------------------------------------------------------------------------------------------------------------
OTHER ASSETS:
Deferred charges and other 48
--------------------------------------------------------------------------------------------------------------------
Total Other Assets 48
--------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 49,794
====================================================================================================================
--------------------------------------------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 34,711
--------------------------------------------------------------------------------------------------------------------
Total Capitalization 34,711
--------------------------------------------------------------------------------------------------------------------
CURRENT LIABILITIES:
Short term borrowings 3,982
Accounts payable 2,787
Customer deposits 491
Interest accrued 128
Other accruals 862
--------------------------------------------------------------------------------------------------------------------
Total current liabilities 8,250
--------------------------------------------------------------------------------------------------------------------
OTHER:
Deferred income taxes 3,369
Deferred investment tax credits 510
Post retirement benefits accrued 357
Regulatory income tax liability 1,477
Other non-current liabilities 1,120
--------------------------------------------------------------------------------------------------------------------
Total other 6,833
--------------------------------------------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 49,794
====================================================================================================================
11
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 September 30, (in thousands) 2001
--------------------------------------------------------------------------------------------------------------------
ASSETS
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant $ 71,196
Accumulated depreciation and amortization (24,812)
--------------------------------------------------------------------------------------------------------------------
Net Utility Plant 46,384
--------------------------------------------------------------------------------------------------------------------
OTHER PROPERTY AND INVESTMENTS 864
--------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 184
Accounts receivable - less reserve 1,910
Gas adjustment clause 8,624
Material and supplies, at average cost 403
Natural gas in storage - weighted average 6,406
Prepayments and other 33
--------------------------------------------------------------------------------------------------------------------
Total Current Assets 17,560
--------------------------------------------------------------------------------------------------------------------
OTHER ASSETS:
Regulatory assets 137
Deferred charges and other 244
--------------------------------------------------------------------------------------------------------------------
Total Other Assets 381
--------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 65,189
====================================================================================================================
--------------------------------------------------------------------------------------------------------------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity $ 44,537
--------------------------------------------------------------------------------------------------------------------
Total Capitalization 44,537
--------------------------------------------------------------------------------------------------------------------
CURRENT LIABILITIES:
Notes payable to associated companies 4,400
Accounts payable 2,202
Customer deposits 155
Taxes accrued 1,159
Other accruals 1,614
--------------------------------------------------------------------------------------------------------------------
Total current liabilities 9,530
--------------------------------------------------------------------------------------------------------------------
OTHER:
Deferred income taxes 4,789
Deferred investment tax credits 345
Deferred credits 3,886
Regulatory income tax liability 2,102
--------------------------------------------------------------------------------------------------------------------
Total other 11,122
--------------------------------------------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 65,189
====================================================================================================================
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