============= Page 1 of 45 ============= Ila//dl Enron Corp Earnings Release Details 4th Quarter 2000 page Significant IBIT Variances 1-7 IR Assets and Investments Detail 8 Wholesale Buckets Summary 9 Wholesale Buckets Detail 10 - 19 Business Unit Variance Schedules 20 - 26 Calculation of EPS 27 Interest Expense 28 Dividends on Preferred of Subs 29 Earnings Release Support Pages 30 - 36 Statistical Supplement Pages 37 - 44 Distribution: Rick Causey Mark Koenig Paula Rieker Liz Ivers Kathryn Corbally Scott Vonderheide Mark Palmer cc: Bob Butts Greg Adams EC 002893125 EXH066-00336 GOVERNMENT EXHIBIT 4257 Crim. No. H-04-25 (S-2) ============= Page 2 of 45 ============= Enron Wholesale Significant Variances (In Millions) Year 2000 Year 1999 Diff Commodity Gas trading, excl originations (net of expenses) - see summary at (a) 813 3 810 Originations Canada 20 12 8 Culaba - 80 (80) Entex - 10 (10) Peoples - 14 (14) Other gas originations (less than $10m) 20 68 (48) Gas Trading 853 187 666 Power trading, exd originations (net of expenses) - see summary at (b) 646 177 469 Origination Genco 32 49 (17) Genco power sales (peakers) - 41 (41) Eastern Transportation - 66 (66) United Illuminating - 30 (30) Other power originations (less than $1Om) 18 5 13 Power Trading 696 368 328 Equity trading (Index) 64 54 10 Metals trading 30 - 30 Interest & FX books (hedge of books) 202 91 111 Global liquids (net of expenses) 8 9 (1) Crude oil prepayments (123) - (123) Weather, paper, coal, S02 126 65 61 Credit adjustment 5 154 (149) Spread options (2) - (2) Networks expenses (37) - (37) Other (including expenses) (192) (300) 108 Other Trading 81 73 8 Total Commodity 1,630 628 1,002 4th Qtr 419 Qtr 1 2000 1999 Diff Comments 373 (10) 383 1 5 37 (37) 4 (4) 9 10 (1) 388 42 346 139 6 133 22 (22) 49 (49) 30 (30) 9 (4) 13 148 103 45 1 16 (15) 4 - 4 69 26 43 1 (8) 9 (42) (13) (29) 71 16 55 - 40 (40) (73) 30 (103) (26) - (26) (3) (101) 98 2 6 (4) 538 151 387 Year 2000 amount includes $IOOMM of gain on Net%%rks Partner seldom EC 002893126 sigvar4g00, summary 1/21/2001, 4:37 PM EXH066-00337 ============= Page 3 of 45 ============= i . S Enron Corp Significant Variances (In Millions) Year 2000 Year 1999 Diff Assets and Investments Fair value/other portfolio related Income - see summary at (c) 237 .319 (82) Earnings on JEDI, JEDI Il, Condor, others (fair value) 354 108 246 Accrual earnings on merchant investments (3) 88 (91) Finance originations 45 7 38 Wessex FX gain - 34 (34) Asset seildowns and 125s - see summary at (d) 249 294 (45) Stock compensation charge - (66) 66 Expenses (171) (133) (38) Merchant Activity 711 651 60 Asset operations - see summary at (e) 228 245 (17) Development and construction (50) (46) (4) Operations and Development 178 199 (21) Total Assets and Investments 889 850 39 Total Unallocated Expense (259) (161) (98) Total Wholesale 2,260 1,317 943 420 0t4 9 9h Diff Comments 89 36 53 125 (12) 137 (16) 41 (57) 3 (3) 145 28 117 (75) (47) (28) 268 49 219 55 130 (75) (14) (30) 16 41 100 (59) 309 149 160 (70) (37) (33) 777 263 514 Primarily Hanover, Mariner & ENE EC 002893127 sigvar4g0Q summary 1121/2001, 4:37 PM EXH066-00338 ============= Page 4 of 45 ============= 0 WHOLESALE DETAILS per above (a) Gas trading, excluding originations: Canada (gross margin) US (gross margin) Credit reserve adj - Blue Ridge Europe (net of expenses) Gas transport (Europe) South America (gross margin) Other (including HPL and expenses) (b) Power trading, excluding originations: NA - East (gross margin) NA - West (gross margin) Europe (gross margin) Other (including expenses) Year Year 4th Qh 4th Qtr 2000 1999 Diff 2000 1999 Diff Comments 9 79 (70) 1,056 131 925 - (33) 33 (6) (2) (4) 9 9 27 (1) 28 (282) (180) (102) 813 3 810 138 101 37 396 48 348 334 128 206 (222) (100) (122) 646 177 469 (c) Fair valuelother portfolio related Income (loss): TNPC MTM - NPI (hedge) Resco warrants JEDI NPI Catalytica Raptor notes receivable Active Power Phantom stock realized gain Project Tomas Quanta OPET & OSI - EUR Venoco Qualitech Merlin Hedge performance/S&P Promigas First World Ecogas Cantibre Riverside IPC Kafus Rhythms (net of hedge amort) Others (less than $15m) 188 - 188 102 - 102 75 (11) 86 70 17 53 59 - 59 61 - 61 53 - 53 45 - 45 26 5 21 23 - 23 15 1 14 (68) 68 (16) - (16) (17) (106) 89 (17) - (17) (22) 97 (119) (37) 11 (48) (43) (2) (41) (118) 43 (161) (143) 333 (476) (67) (1) (66) 237 319 (82) (27) 4 (31) 449 38 411 (1) 1 53 6 47 2 3 (1) (104) (60) (44) 373 (10) 383 34 5 29 104 12 92 79 25 54 (78) (36) (42) 139 6 133 190 - 190 (202) - (202) 49 13 36 8 (8) 50 - 50 12 - 12 45 - 45 (6) - (6) 4 (4) (5) - (5) 4 (4) (4) 4 (16) (5) (11) (28) 16 (44) 89 36 53 Interest income EC 002893128 sigvar4g00, sunxnary 3 1/21/2001. 4:37 PM EXH066-00339 ============= Page 5 of 45 ============= WHOLESALE DETAILS per above (d) Asset selldowns and 126s: ETOL Project 20/20 (Wind River to NBPL) Margaux II Haina Sutton Bridge Poland Bammel Looper Pittsburg Power Plant Project Rock Wind River Powder River Construction fees on Sutton Bridge, Teesside Guam Italy/Turkey Riverside (Teesside) Other (including expenses) (a) Asset operations: Equity earnings from: Europe Centragas CIESA/TGS DPC Phase I Eco Electrica Korea (SK) Transredes Other International Elektro IBIT Vengas ESA operations India operations CALME operations APACHI operations Europe management fees JEDI management fee EGEP operations EBS operations Expenses Other Year Year 2000 1999 Duff 108 108 79 - 79 37 - 37 11 - 11 9 39 (30) 1 15 (14) - 10 (10) 27 (27) 27 (27) 17 (17) 17 (17) 15 (15) 18 (18) 102 (102) 2 (2) 4 5 (1) 249 294 (45) 18 19 (1) 4 8 (4) 38 32 6 51 30 21 23 - 23 23 12 11 (10) 13 (23) 37 20 17 184 134 50 124 111 13 23 - 23 33 22 11 11 7 4 32 46 (14) 96 15 81 10 11 (1) 22 20 2 141 41 100 - 140 (140) (416) (218) (198) (32) (84) 52 228 245 (17) s 4th Qtr 41h Qtr 2000 1999 Diff Comments 108 - 108 37 - 37 15 (15) 7 (7) 6 (6) 145 28 117 5 15 (10) - 1 (1) 11 8 3 15 20 (5) (1) - (1) 7 1 6 (9) 3 (12) 1 (7) 8 29 41 (12) 42 32 10 23 - 23 16 9 7 2 6 (4) 1 31 (30) 30 2 28 4 4 7 5 2 40 28 12 97 (97) (128) (97) (31) (11) (28) 17 55 130 (75) r-• EC- 002893129 sigvar4g00, summary 4 1121/2001. 4:37 PM EXH066-00340 ============= Page 6 of 45 ============= 0 0 ! Enron Corp Significant Variances (In Millions) Transportation Services Gross margin Operating expenses (incl deprec) Equity earnings: Citrus Northern Border EOTT Other 000 1999 Ditf 4 20001h 419 9h Diff Comments 650 626 24 (347) (330) (17) 50 25 25 8 8 1 4 (3) 4 1 3 63 38 25 Other Income: Gains on sales 2 3 (1) Interest income 1 18 (17) Interest lock - 9 (9) Conoco litigation 9 (9) Reimbursement of Transcanada payment - 9 (9) Gain early settlement of Int. rt. swap 15 - 15 Other 7 (2) 9 25 46 (21) Transportation Services 391 380 11 Portland General Group Gross margin 795 740 55 Operating expenses (incl deprec) (531) (484) (47) Equity earnings 3 12 (9) Other Income: - Customer Choice 31 - 31 COLI (2) 18 (20) Gain on sale of Centralia - 16 (16) Gain on sale of Coyote II 11 - 11 Compensation expense (11) - (11) Other 45 3 42 Other income 74 37 37 Portland General Group 341 305 36 182 175 7 (94) (88) (6) 15 8 7 Incr. related to FAS 133 2 2 - (2) 2 1 - 1 18 8 10 1 - 1 - (1) 1 Decr. due to no interest from EOTT in 2000 (4) 3 (7) (3) 2 (5) 103 97 6 214 197 17 (141) (123) (18) 1 1 Reversal of accrual for program canceled (9) 18 (27) - 16 (16) 35 (4) 39 Primarily due to reserve reversals 26 30 (4) 100 106 (5) EC 002893130 sigvar4g00, summary 5 111211/20011. 4:37 PM EXH066-00341 ============= Page 7 of 45 ============= 9 0 0 Enron Corp Significant Variances (In Millions) Year Year 2000 1999 Duff Retail Energy Services Gross margin: Gas and power sales so (10) 60 Power MTM 476 147 329 Facilities servlceslOutsource and other 38 98 (60) International 23 21 2 Total gross margin 587 256 331 Operating expenses (loci deprec) (470) (337) (133) Minority Interests (Omicron, EES) - 5 (5) Gain on sale of Resco warrants 74 - 74 Equity income poss) (60) - (60) Other Income (28) 8 (36) Retail Energy Services 103 (68) 171 Broadband Services Gross margin Dark fiber and software sales 152 - 152 Content services and other 48 - 48 Contract originations 4 - 4 Merchant Investments 156 - 156 Other (42) - (42) Total gross margin 318 - 318 Operating expenses (inci deprec) (382) (382) Other Income 4 - 4 Broadband Services (60) (60) Exploration and Production 65 (66) sigvar4g00.xls, summary 4th Qtr 4th Qtr 2000 1999 DitT Comments (6) (14) 8 271 72 199 (7) 41 (48) (44) 21 (65) 214 120 94 (111) (115) 4 Incr. due to bonus and phantom stock expense. (28) - (28) TNPC losses (42) 2 (44) Primarily write-offs of equipment & uncollectable accounts 33 7 26 29 - 29 47 - 47 Blockbuster monetization 1 - 1 (1) (1) Avid 76 - 76 (109) (109) 1 - 1 (32) - (32) EC 002893131 6 1/21/2001, 7:01 PM EXH066-00342 ============= Page 8 of 45 ============= ! S 0 Enron Corp Significant Variances (In Millions) Year 2000 Year 1999 Diff 4 0 0 4 1999 h DIH Comments Corporate and Other Corporate (including Co 099) Corporate expenses and other (302) (120) (182) (156) (24) (132) Incr due primarily to IT, advertising, compensation 6 benefits Azurix earnings (including gain on offering) (69) 23 (92) (28) (20) (8) Includes S48m of gain on Arurix offering in 2Q99 ECM 46 33 13 41 12 29 EEDC (4) (5) 1 (3) (3) Resco - 24 (24) - 32 (32) (329) (45) (284) (146) (3) (143) EREC 55 56 (1) 26 12 14 Clean Fuels operations (15) (28) 13 (14) (8) (6) Corporate and Other (289) (17) (272) (134) 1 (135) Total recurring IBIT 2,746 1,982 764 847 473 374 Nonrecurring items (pretax): Azurix Impairment (326) - (326) (326) - (326) FAS 121 Impairment (Clean Fuels) - (441) 441 - - Gain on sale of EOG - 454 (454) - - SAB 51 gain 121 - 121 121 - 121 Write-off EES costs (59) - (59) (59) (59) Nonrecurring items (264) 13 (277) (264) - (264) Total IBIT 2,482 1,995 487 583 473 110 Interest expense 838 656 182 234 119 115 Incr. due to higher debt levels, induding S28m related to Metals purdr Company-obligated preferred of subs 77 76 1 18 19 (1) Minority interests 154 135 19 45 41 4 Pretax earnings 1.413 1.128 285 286 294 (8) Income tax expense 434 104 330 226 35 191 Income before cumulative accounting changes 979 1.024 (45) 60 259 (199) Cumulative effect of accounting changes, net of tax - (131) 131 - - - Net income 979 893 86 60 259 (199) n sigvar4g00, summary 7 EC 002893132 112112001. 4:37 PM EXH066-00343 ============= Page 9 of 45 ============= . 0 0 0 Enron Wholesale Significant Variances (In Millions) Assets and Investments Income from Merchant Investments 000 1999 Ditf 420 0 4 9 9t, Dif Comments Equity Earnings FV vehicles (JEDI, JEDI II, Condor) 354 108 246 Resco/TNPC, net 290 - 290 JEDI - NPI 75 (11) 86 Catalytica 70 17 53 Kafus (118) 43 (161) Rhythms (143) 333 (476) Other (less than $70MM) (66) (133) 67 Total Merchant Investments 462 357 105 Asset selldowns and 125s ETOL 108 - 108 Project 20120 (Wind River) 79 79 Margaux II 37 - 37 Italy/Turkey - 102 (102) Sutton Bridge 9 39 (30) Other(less than $30MM) 16 153 (137) Total Asset selldowns and 125s 249 294 (45) Asset operations EGEP operations 141. 41 100 Elektro WIT 124 111 13 APACHI operations 96 15 81 DPC Phase 1 51 30 21 EBS operations - 140 (140) Expenses (416) (218) (198) Other (less than $30MM) 182 80 102 Total Asset operations 178 199 (21) 889 850 39 125 (12) 137 Primarily Hanover. Mariner & ENE (12) - (12) 49 13 36 8 (8) (4) 4 (16) (5) (11) (23) 21 (44) 123 21 102 108 37 - - - 28 108 37 (28) 145 28 117 40 28 12 42 32 10 30 2 28 15 20 (5) 97 (97) (128) (97) (31) 42 18 24 41 100 (69) 309 149 160 EC 002893133 IR summary, A&I S 1/21/2001, 4:40 PM EXH066-00344 ============= Page 10 of 45 ============= 0 • i C.r.. Carp. W h.k..k 8.rka. 2000 by Quarter 771 1999 by Quarter 00-99 Comparison 99-98 comps ison YTD 4Q Subcateeorv Description Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 3Q 2Q IQ Incr (Deer) Incr (Deer) 98 Year Incr (Deer) SUMMARY Cw.ww51y Cm Tr di.g 852.8 388.3 464.5 183.4 281.1 2400 41.1 1912 41.9 74.5 12.7 58.1 665.6 346.4 151.6 35.6 C-4ty PewerTndina 695.6 148.2 547.4 234.3 313.1 172.8 140.3 368.2 102.6 42.3 108.8 114.5 327.4 45.6 291.8 76.4 c..-Wk, Od-Tndi.8 81.2 0.4 80.8 (13.2) 94.0 29.6 64.4 72.6 7.0 54.9 (41.0) 51.7 8.6 (6.6) (32.9) 105.5 Co.wodih S.k. & Snvke. 1,629.6 536.9 1,092.7 404.5 688.2 442.4 245.8 628.0 151.5 171.7 80.5 224.3 1,001.6 885.4 410.5 217.5 Mars.. A.tt.ki I.cowe t,o Mush.4 l.refl 462.3 122.9 339.4 171.0 168.4 18.6 149.8 356.7 19.6 118.7 204.8 13.6 105.6 103.3 123.7 233.0 .w.o.. Ani. t. Ca:. a. S.k. (i.cI 125.) 248.9 144.9 104.0 84.3 19.7 14.1 5.6 294.0 28.2 84.2 134.7 46.9 (45.1) 116.7 559.9 (265.9) M..4.. Adkin 711.2 267.8 443.4 255.3 188.1 32.7 155.4 650.7 47.8 202.9 339.5 60.5 60.5 220.0 683.6 (32.9) tip.aia .t4.acarr Ana Opcr.tiom 228.1 54.9 173.2 64.6 108.6 26.6 82.0 244.4 130.0 33.6 19.7 61.1 (16.3) (75.1) 53.5 190.9 ty.a.ti.r- l4. acaw Oerelop..4&Comuoetio. (50.5) (13.3) (37.2) (15.3) (21.9) (4.8) (17.1) (45.9) (30.6) 4.0 (34.1) 14.8 (4.6) 17.3 (27.9) ((8.0) Op-ti... D. 4t C.. .I, 41.6 (36.0 49.3 86.7 21.8 64.9 198.5 99.4 37.6 (14.4) 75.9 (20.9) (57.8) 25.6 172.9 Tat A..a.! I..au.e.u 888.8 309.4 579A 304.6 274.8 54.5 220.3 849.2 147.2 240.5 325.1 136.4 39.6 162.2 709.2 140.0 tt..tuc.t.rr.pane UmlbntedE.pen.e (258.6) (69.2) (189.4) (82.1) (107.3) (60.0) (47.3) (160.8) (36.2) (34.1) (50.1) (40.4) (97.8) (33.0) (151.2) (9.6) TtAY WIwe.re 2,259.8 777.1 1.482.7 627.0 855.7 436.9 418.8 1,316.4 262.5 378.1 355.5 320.3 943.4 29s% 514.6 I.4 %8.5 347.9 36% EC 002893134 EXH066-00345 ============= Page 11 of 45 ============= tare Corp. 9 0 i WI.k..le Rocket. 2000 by Quarter 1999 by Quarter 00-99 Comparison 99-9E comparison YTD 4Q Subeateeorv Description Year 4Q 9 MO 30 6 mo 2Q IQ Yen 4Q 3Q 2Q IQ Incr (Decr) Incr (Decr) 99 Year Incr (Decr) GAS TRADING NA .i.Tr.dq C...d.-0..Trading 9.3 (27.5) 36.8 14 35.4 17.6 I7.8 78.8 3.9 4.8 18.3 51.8 (69.5) (31.4) 55.7 23.1 NA .:.1.d., "it R..n'n.III- R.nae - - - - (33.0) (10) - (32.0) - 33.0 1.0 - (33.0) NA tl..Trdi.9 US-GoTrading 1.056.1 4492 6069 282.7 324.2 268.5 55.7 130.7 38.2 60.2 35.1 (2.8) 925.4 411.0 159.6 (28.9) NA .N-Trading Do.enicAssets (HPULRC) (58.6) (26.8) (31.8) (29.6) (2.2) (5.4) 3.2 (4.2) 2.3 (2.5) (2.7) (1.3) (54.4) (29.I) (22.4) 18.2 NA u.Trrq B.idgelineeq.il.werminp 7.0 4.1 2.9 (2.5) 5.4 3.4 2.0 - - - - 7.0 4.1 - - NA li.lr.anp Ga. OriginationsIAbelm1 39.9 15.1 24.8 8.6 16.2 7.4 E.8 104.0 15.3 25.4 30.7 32.4 (64.I) (04) 183.5 (79.5) NA t..r sl.,,o Cm coming expcose. (223.6) (80.5) (143.1) (58.5) (84.6) (50.7) (33.9) (175.6) (61.4) (45.8) (35.2) (33.2) (48.0) (19.1) (202.2) 26.6 NA 830.1 333.6 496.5 202.1 294.4 240.8 53.6 100.7 (2.5) 42.1 14.2 46.9 729.4 336.1 174.2 (73.5) llr .«irr&.p GooTrading 14.2 60.1 (45.9) (12.5) (33.4) (20.9) (12.5) 5.5 7.2 (9.6) (1.6) 9.5 8.7 52.9 (17.7) 23.2 I la .:. t..a., Gas Tr.a.pon Re, enne. 9.2 2.3 6.9 2.2 4.7 2.3 2.4 9.4 2.5 2.2 2.3 2.4 (0.2) (0.2) 9.2 0.2 1191 t:. Tr.ing Gas Orq:.rion. - - - - - - - - - - - - - - ME 1..iIonF ora+ Gstrading c.pen.es (20.3) (7.2) (13.3) (4.8) (8.5) (4.6) (3.9) (7.4) (1.2) (3.3) (2.2) (0.7) '11.1) (6.0) (11.7) 4.3 EUR 2.9 35.2 (32.3) (15.1) (37.2) (23.2) (14.0) 7.5 8.5 (10.7) (1.3) 11.2 ` ;1.6) 46.7 (20.2) 27.7 .A .r.T.ri.. Ga. Trading 8.7 (3.0) 11.7 1.9 9.8 8.2 1.6 (1.1) (1.1) - - - 9.8 ((.9) (2.4) 1.3 NA .:.T..I6 C.i.b.MTM 17.6 3.3 14.3 (1.4) 13.7 15.7 - 62.9 37.5 45.4 - - (65.3) (34.2) 82.9 sA T.ot6 E'q oo Ga.holding c.poun (6.3) (0.8) (5.7) (4.1) (1.6) (1.5) (0.1) (2.8) (0.5) (2.3) (3.7) (0.3) (2.8 SA 19.8 (0.5) 20.3 (3.6) 23.9 22.4 1.5 79.0 35.9 43.1 (59.2) (36.4) (2.4) 81.4 Arnc/ a M."Irnling Gas Trading ArAcral:.Tndi.y Ga. Origin.Dans - - - - - - - - - - APACI a Ir..Tmp I Woroa G.r tiding e.penea - - - - APACHI [GAS Inman 852.8 388.3 464.5 183.4 281.1 240.0 41.1 187.2 41.9 74.5 12.7 58.1 60.6 1146% 316.4 713 151.6 35.6 NA POWER TRADING p..>1rsdi.P Pm.'m-cast 137.9 34.5 103.4 135.7 (32.3) 6.7 (39.0) 101.4 5.3 6.3 24.0 65.8 36.3 29.2 122.8 (21.4) NA I%- 1'.anp Pa.. -weal 3%.3 104.4 291.9 53.8 236.1 144.8 91.3 47.8 11.9 21.1 12.1 2.7 349.5 92.5 79.1 (31.3) NA P..a 1r.anp Olbut 4.9 4.9 - - - - (1.0) (I.0) - - - 5.9 5.9 - (1.0) NA I'...vTN6A Powa0ritin.Iion.18below1 49.8 8.6 41.2 8.0 33.2 10.5 22.7 125.1 106.7 15.3 3.1 - (75.3) (98.1) - 125.1 NA Inkling Fq.w.. Powertrading e.po.m (101.9) (45.5) (56.4) (13.4) (43.0) (26.0) (17.0) (80.8) (25.9) (20.1) (19.1) (15.7) (21.1) (19.6) (83.9) 3.1 NA 487.0 106.9 380.1 136.1 194.0 136.0 58.0 192.5 97.0 22.6 20.1 52.8 294.3 9.9 118.0 74.3 Ills 1%n.T.l.q PowmTr.ding 333.9 79.4 254.5 95.2 159.3 57.1 102.2 127.7 24.9 29.0 3.2 70.6 206.2 54.5 134.1 (6.4) rUR too. T..a.. Po%cr Origination IC bolowl - - - - - - - 66.1 (9.7) (6.5) 88.9 (6.6) (66.1) 9.7 43.7 224 I Ill 1..lina I'm.- Power boding e.pensn (122.2) (41.1) (81.1) (39.6) (41.5) (22.6) (18.9) (9.0) (3.4) (2.7) (1.7) (1.2) (113.2) (37.7) (4.0) (3.0) EUR 211.7 38.3 173.4 55.6 117.8 34.5 83.3 184.3 11.8 19.8 90.4 62.8 26.9. 26.5 173.8 11.0 sA P...T..r.y PowrrTndinp (1.6) (1.4) (0.2) (I.0) 0.8 1.2 (0.4) (1.5) (1.6) 1.8 (1.7) - (0.1) 0.2 (1.3) SA P-1r.dinp Power Oripinalion. - - - - - - - - - - - SA T..li.rr.pmr. Powsrbdinjo.pcnm. (IS) (02) (I.3) (09) (0.4) (0.3) (0.1) (3.4) (2.3) (1. 1) 1.9 2.1 (34) SA (3.1) (L6) ((.5) (1.9) 0.4 0.9 (0.5) (4.9) (3.9) 0.7 ((.7) - (.8 2.3 (4.9) Arncl n r... 7-6.$ Poll n Trading - (4.4) 4.4 1.3 3.1 2.3 0.8 3.2 0.2 3.1 1.0 (I.1) (3.2) (4.6) - 3.2 ArACI I P..., 6.liry Pown OriEin.lion. - - - - - - - - - ArACI U Tr.1in51 ...a Power.adinac.pen.n 9.0 (9.0) (6.8) (2.2) (0.9) (1.3) (7.4) (2.5) (3.9) (1.0) - 7.4 11.5 (7.4) APACHI - 4.6 (4.6) (5.5) 0.9 1.4 (0.5) (4.2) (2.3) (0.8) - (I.I) 4.2 6.9 (4.2) Pnnerlyd,.2 695.6 148.2 547.4 234.3 313.1 172.8 140.3 368.2 102.6 42.3 108.8 114.5 327.4 2116i 45.6 04 291.6 76.4 NA OnIER TRADING ..I-Ir.dio C.1 Trading 12.5 - 12.5 5.6 69 3.5 3A 373 16.3 9.4 3.9 7.7 (24.8) (163) 8.3 290 NA Inn. I..liq Crdil Rr.onc Adjustment 5 0 - 5.0 - 5.0 - 5.0 495 - 14.0 - 35.5 (44.5) 293 21.2 NA ut.,r..a..p Aaro.torHPLFV (28.4) (7.1) (21.3) (7.1) (142) (7.1) (7.1) (28.4) (7.1) (7.1) (7.1) (7.1) - - (23.4) - NA ..h,, r..dh* Equil. Trading 63.5 - . 63 5 18.7 448 114 334 54.3 16.0 11.1 27.2 - 9.2 (160) - 54 3 NA Nn, 1.oio. Inkmn & F'X Boos. 161.1 649 96.2 28.7 675 392 28.3 91.2 23.3 246 21.2 22.1 699 416 74.2 170 NA ..n.1..6na Ncrworss P.rown gain 500 50.0 - - - - - - - - - - 500 300 - . NA ..h. 1-fin, Odw. Trading 4 4 4.2 02 0.5 (0.3) (0.3) - (2.5) (0.2) (2.3) - - 69 4 4 - (2 5) NA (mw T-%" Pop,, Trading 428 112 31.6 22.5 9.1 6.2 2.9 21.9 1.0 3.5 8.6 3.8 209 102 II I 108 NA ..I..TI.ri.y S02 Trading (03) - (0.3) 2.9 (32) (69) 3.7 (6.8) (40) (34) (0.2) 08 6.5 40 - 1 I (7.9) NA ..h. r..Iinp Wealth- Trading 12.9 - 12.9 3.4 9.5 3.9 5.7 (3A 2.6 4.6 15 4 7 (05) (26) 5 5 7 9 NA Ido. l'.eow 00- trading ,pcue. (152.0) (42.1) (109.9) (37.2) (72.7) (45.2) (27.5) (155.1) (57.5) (35.7) (27.9) (340) 3.I 13.1 (90.7) (644) NA (71.5 81.1 90.4 38.0 52.4 4.6 478 74.3 (9.6) 23.7 27.2 33.5 %.7 907 9.4 654 /0 EC 002893135 lnlro..r . ,. N4 23% 26% EXH066-00346 ============= Page 12 of 45 ============= Fnrm brp. Wlwk..k a.el.e(. 2000 by Quarter 1999 by Quarter 00.99 Comparison 99-98 comparison YTD 4Q Subealeaorv Description Year 4Q 9 MO 3Q 6 mo 20 IQ Year 4Q 3Q 2Q IQ Incr (Deer) Incr (Deer) 98 Year Incr (Deer) it" twt- T-iq S..pincop a-ENA - (6.6) 6.6 - 6.6 - 6.6 - - - - - - (6.6 - - I l'PA I..aq 1gc..e. EM-e. ECM (6.6) 6.6 6.6 6.6 (6.6) FIM 1wi-Tr. ieg Otlrcr Tndiag I ll l,.liq lia..oa . Eapnm ElM - - 111.1 IN)- Tam. Cml Trdina 46.5 46.3 - - - - - - - - - - 46.5 46.5 - - 1114 uaer T,.diq Eq.iq Tndiy • 0.8 0.8 - - - - - - - - - - 0.8 0.8 - - I .#1 ik , T,.n., Iaerca & FX 0..1. 3.8 3.8 - - - - - - - - - - 3.8 3.8 - - 11a1 1nbr,.aq Other 1Ydi.a (0.6) (0.6) - - - - - - - - (0.6) (0.6) - 1,0N pd v T..a,p SOS Tndi..p 6.5 6.5 - - - - - - - - - 6.5 6.5 - - /'cm uw L.anp Wmd.a Tldily • 6.2 6.2 - - - - - - - - - - 6.2 6.2 - - it" IldmT,.diq Odar.di..ge.pmm (16.2) (16.2) - - - - - - - - - - (t6.2) (16.2) - - l:(41 1nlnr T,.4. Gkb.I Liq.id. Trding 59.8 16.4 43.4 (I.8) 45.2 14.8 30.4 58.2 2.9 35.0 (8.6) 28.9 1.6 13.5 72.1 (13.9) 1101 11d.-T..m., CmdrOilPrep..wenu (68.3) (33.7) (34.6) (34.6) - - - - - - - - (68.3) (33.7) - - 1.a1 n.ra:..m.., GIob.ILlg.idiT..di,.aE,pcme. (51.8) (14.9) (36.9) (19.3) (17.6) (7.7) (9.9) (49.3) (10.5) (13.3) (12.5) (13.0) (2.5) (4.4) (35.8) (13.5) EGM (13.3) 14.8 (28.1) (55.7) 27.6 7.1 20.5 8.9 (7.6) 21.7 (21.1) 13.9 (22.2) 22.4 36.3 (27.4) 1Tnt Ia.,T,.lig CrediIRe.er.cAdj.nmad - - - - - - 104.6 39.6 40.0 25.0 (104.6) (39.6) 5.2 99.4 1Iln t.ln.Tndiq C.rdeOilP,cp..mrnu (55.2) (8.I) (47.1) (47.1) (18.7) (28.4) (38.4) (12.9) (13.1) (6.4) (6.0) (16.8) 4.8 (10.3) (21.1) I tla tala r, du, ETOL 36.7 5.2 31.5 14.4 17.1 5.1 12.0 - - - - 36.7 5.2 - I'mt al,T,di, ETOLE.poom (13.7) (1.6) (12.1) (3.6) (8.5) (5.0) (3.5) - - - - (13.7) (1.6) - - 1Ua u11erTodiq Tnn.fmETOLIORmil (10.8) - (10.8) (10.8) - - - - - - - - (10.8) - - - rua 1.M I.&" Iak.cn A FX eoo1:. 36.6 - 36.6 6.4 30.2 6.1 24.1 24.5 3.3 18.1 (5.0) 7.4 12.1 (3.3) 18.7 3.8 1ua (Mb. T,ri" M.q..oCmpF.mina (12.2) (12.2) - - - - - - - - - (12.2) (12.2) - - I llS a1-T,.Rq Mr a, Trdin; Inane 30.3 35 26.8 26.8 30.3 3.5 - - cult I.hoT,.0. OlMrTrdina 6.0 5.8 0.2 (0.1) 0.3 0.1 0.2 9.6 4.6 5.0 0.8 (0.8) (3.6) 1.2 (5.4) 15,0 1ua 10.Q T,.liq P.&.1 Rekmc - - - 40.5 (40.5) 1oa 1nln.n.di.g Sp.edOgion, (1.5) (72.9) 71.4 (17.9) 89.3 65.4 23.9 50.1 30.2 9.6 4.1 6.2 (51.6) (103.1) 16.4 33.7 I Ilk 1.1- F.T.g 5.110 odds. 0.8 - 0.9 0.8 0.7 0.1 (5.0) (1.0) (1.3) 2.0 (4.7) 5.8 1.0 - (5.0 1Iln uwr..nq TmsidrUtililk, (5.2) (4.I) (1.1) (0.3) (0.8) (0.4) (0.4) (t3.2) 1.0 (11.8) (10.5) 8.1 8.0 (5.1) - (13.2) 1111 ..I,.,1 .a., W.lnl.d 22.2 22.2 - - - - - - 22.2 22.2 - 1Ua Tndigl.q.rn. Otba[,.diogeapen.e. (111.9) (51.1) (60.8) (4.8) (56.0) (28.2) (27.8) (143.3) (40.6) (37.7) (32.1) (32.9) 31.4 (10.5) (143.7) 0.4 EUR (77.9) (113.3) 35.4 10.1 25.3 25.1 0.2 (11.1) 24.2 9.5 (47.1) 2.3 (66.8) (137.5) (78.6) 67.5 cA /.nn T. dig Od.n Tndina sA Imsg Eq.mnrn E,pen.c. (4.2) (4.2) (4.2) (2.0) (2.2) (4.2 SA (4.2) - (4.2) - (4.2) - (2.0) (2.2) (4.2) nrnrln ul.eT,.xg OthcrTndina APM'III Tndig Fl-, E.pen.c. - - - APACHI - - - - - NiWK 1nM t..diq Nelwo.6. Puiocn pin 54.5 54.5 - - - - - - - - - - 54.5 54.5 _ _ NIWK T,.Jiglga.<. E,pcme. (37.2) (26.5) (10.7) (5.6) (5.1) (5.1) (37.2) (26.5) N'WK 17.3 28.0 (10.7) (5.6) (5.)) (5.1) 17.3 IDIVAI! 28.0 /DIVA11 IDIVAII ni.. urvrr.l Tno.ferETOL1.Rcuil (12.2) (3.6) (8.6) (8.6) (0.1) (8.5) (12.2) (3.6) - Elim, (12.2) (3.6) (8.6) (8.6) (0.1) (8.5) (12.2) IDlVm. (3.6) IDIVO IDIVml 01IKr Trdlllp 81.2 0.4 80.8 (13.2) 94.0 29.6 64.4 72.6 7.0 54.9 (41.0) 51.7 8.6 1r. (6.6) 112 (32.9) 105.5 -771: TOTALCOMMODITY 1,629.6 536.9 1,092.7 404.5 688.2 442.4 245.8 628.0 151.5 171.7 80.3 224.3 1,001.6 44r. 385.4 41 410.5 217.5 57•/. • See N A d EUR far da. error lo IQIa 11,1A,.tln. .1101 EC 002893136 1/d 1/1,.11 . 1. ?M EXH066-00347 ============= Page 13 of 45 ============= NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA 0 9 Ear.r C.rp. Wh.ln.k Bucklr 2000 by Quarter 1999 by Quarter 00-99 Comparison 99-98 compar(son Subcateaorv Description Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 3Q 20 IQ YTD Incr (Decr) 4Q Incr (Decr) 98 Year Incr (Deer) INCOME FROM MERCHANT INVUT - . hi, VA- 1- Fv..IreiocomelDbNle l (97.5). _ (975) (392) (58.3) (70.1) 11.8 (1.2) 17.4 36.5 (61.6) 6.5 (96.3) (17.4) 53.0 (54.2) Iwr vdr kome 81 thm. FV-Ieckn - 136.0 - - 136.0 - (130.5) - 13 Igr e.. Iv.dklo Coador 30.5 305 5 - - - 305 30.5 - - - Iq.em-rV.dd* JEDI 203.0 88.3 1147 (209) 135.6 25.5 110.1 10.7 (23.9) 17.9 (3.6) 203 192.3 112.2 - 10.7 IW Orn-FY.diba JEDI11 63.8 (6.1) 69.9 12.8 57.1 17.3 39.8 91.5 6.1 (13.8) 86.9 12.3 (27.7) (12.2) - 91.5 1'g. era-IV.dkle E.rerco (6.0) (3.2) (2.8) (3.2) 0.4 (0.3) 0.7 (0.5) (1.1) 1.9 (1.3) - (5.5) (2.1) - (0.5) Fg. ea._IV dwk 00-egonc em.iop (0.4) (0.4) - - - - - 1.6 0.1 - (0.6) 2.1 (2.0) (0.5) (220) 23.6 ilnderiip ieome St.emriua income 4.6 0.6 1.2 2.9 (4.6) - zz.4 (IZe) nRlmiy irm.c Ch-- (IEDI rN*.cI.m) - - - 46.0 (46.0) Pirsco .w.m C...d. 4.3 4.3 4 3 4.3 - - - 4.3 - - - ibree.rYi.Mbm Maiaw. 12.6 - 12.6 - 12.6 12.6 - 1.8 2.9 (1.2) 0.1 - 10.8 (2.9) 17.3 (15.5) F-.mre m:wbm. Tend. Clcborae 20.7 - 20.7 1.5 19.2 19.2 - - - - 20.7 - - - la.memilwian WemOF$ 6.7 - 6.7 - 6.7 6.7 - - - - - - 6.7 - - - AccnWko.mu.b:.e. Acemli.cmaco.mmh-m.rn (14.9) (15.2) 0.3 (13.6) 13.9 8.7 5.2 77.6 39.1 4.2 15.1 19.2 (92.5) (54.3) 20.4 57.2 INJ P.nrolie R4.w ECM Reimb of 1EDI ENE Pot. 7.0 - - 7.0 (7.0) - 0.3 6.5 (Nh.F-rlmNd. ENE par (79.2) - (79.2) - (79.2) - (79.2) (80.7) - - (31.5) (49.2) 1.5 - (80.7) rate P-r.W Rdrd ECT 1..eaunenu 9.1 - - - 9.1 (9. I) - 9.1 im- Ponreli. Rd" Rep.p Writ Doaw (ace ECM) - - - - - - - 7.1 (7. I) ahrPmvdi.Rcl.w Olhcr (12.5) (7.0) (5.5) - (5.5) 0.5 (6.0) (2.9) (4.5) (I.S) 1.1 2.0 (9.6) (2.5) (3.2) 03 1 .Tmv-Mab-+ .cc E.pencc.-NA (109.2) (22.6) (86.6) (21.8) (64.8) (23.6) (41.2) (93.6) (32.8) (21.0) (19.2) (20.6) (15.6) 10.2 (99.2) 5.6 NA 21.9 64.3 (42.4) (84.4) 42.0 0.8 41.2 161.0 3.3 23.6 122.6 11.5 (139.1) -1210% 61.0 0.5 42.3 118.7 Ja1v. ^1 EC 002893137 ,2. INaw gm..pm u IMa, I I.PM EXH066-00348 ============= Page 14 of 45 ============= 0 Enrs C.rp. Wb.k..k Snob". Subcategory ICU IVAI I, Ponfd'm RelMd I I'M IVAM,. Poafolio Rddd f('M IVAIM1, Mladie Rd" II'M 1vn.h,Ponroh.Rd.ld CCM IVAAbn Pnnfdin Rddd am Iv.- ponrnlin Rdad /l'M IVAaba Po.dnlin RcWd CCM IVA.bn Pmdoli. RdMad 1'CM IVAAbahnfolin Rddd 1:I'M IVAM.n Ponfalin Rd." 1CM IVAMo P.nr-W Rddd tIM IVAMo Mlfulio Rddd ICU IVAMe hdrdb Rdrd I:CM IVAllhn P nfdin Rd" 1CM IVAIAn Punf.lio RckA d ELM FVaAba PoWn Rddd FCM IVAMC Pork. R.Wd IAN IVAFbn rwr.li. RdMod ECU IVAahn Punf.lk Rddd ECM IVAAhn P.nMio Rdod FCM IVA.ha Petfdk Rd" FCM IVAbhn Pouf li. Rddd I I'M IVAM, Ponfnli. Rddd 1CM IVAM, Ponka. RchMd 1'CM IVRahn Pc.Il.lI. Rddd FCM Ivol,F_r.r Rdnd 1'CM FVAsbnhclf.lio Newel CCM IVAMn Pmlrolin Relad ICU IVAMn Pmf.lto kl.W I.CM /VA.hd Pof.IM Rddd 1CM IVA She Prorfhlt. Rddd Cl'M IVAMo hrlf 11. Rel.wl I ('M IVAlrho. Ponf.lk Rddd 1CM IVAVJ- Podrolio ReIdd I CM I VAM.e Pnrdin R .L" 1'CM IVAIIhn P.drnli. R.Wd ICU IVANI, P.mf.lin R dud 1'CM I VAMc hnfefi. Rddd FCM IVAab M1.rfdi. Rdrd 1'CM IVAn1... Pndf tin Re6kd ICU Cg. oo.FV sdk1.. I I'M 1'g.es- IVvdtck. hick-ICU I .-. IV vd.kk. 1'('M I' g. o.n. IV vehkl ICU A-1 henn-hkne. ICM mnsrviryi.owe CM lyo.v- Mdchd- h.o.u Description CMabesn (JEDI rcdadmd Coadar income.lbcalon Condor pus option on ENE Condor Piomip. Condor Vclocit. Ed In.o.tmcan-FV EOG - TRS EOG &ch.nae.bk Notes - FV EOG Hedge B.A t - FV EOGR-FV EOGR Hedge - FV Flnb a acm.1 JEDI eq.ils e.MModc ..rapt JEDI NPI JILP.moniritioa Latin Aenk.n BalEd - FV Mari.-FV M.rli..d.i. fen NSM Deb w,hedoo. Olhr e.minp Ph.Moln stock rnIod pi. Portfolio djudmcab Project Fending-stored income Projeca Ghod asileaf Poojool Tosses Raptor I Hedge Raptor i1.1-11 income Recl.es - Promip. cMnmg. Rectus to El (Poland) RCp.p WdW Dol. (scc NA) Reoo income (loss) Rh.thms - FV Rhahm. FV - rtck.. Rhahms Hedge -FV Rh.thm. dock re.liid In. S&P Hedge - FV TNPC MTM - NPI TNPC NPI e.ming. Wa.borg Dean Rood-Stock Hedge WO.es - FX g.i. Color eguin e.minp JED111 EES cgail.. nminp JEDI Pot. - FV Oihn cgoibv earnings C.shc. inkrcd income JEW Rewucturin8 Eapen.e. - ECM ECM R.hd. .I}... 4IR.. 0 I 2000 by Quarter 1999 by Qua ter 00-99 Comparison 99-98 comparison YTD 4Q Year 4Q 9 mo 3Q 6 mo 2Q 10 Year 4Q 3Q 2Q IQ Incr (Decor) Inct (Deer) 98 Yen Incr (Deer) (1.0) - (1.0) - (1.0) - (10) - - (1.0) - 19.9 (19.9) (74.8) - (74.8) (51.0) (23.8) (0.6) (23.2) - - - - (74.8) - - 3.5 3.5 - - - - - - - - 3.5 (17.3) (173) - - - - - - - - (17.3) (28.7) (28.7) - - - - - - - - - - (28.7) 110.7 110.7 - - - - - - - - 110.7 (293.0) (157.8) (135.2) (53.3) (81.9) (81.9) - - - - - - (293.0) 245.4 43.1 202.3 62.9 139.4 139.4 - 43.0 - 43.0 - 202.4 (37.2) (25.2) (120) (9.6) (2.4) (2.4) - - - - - - (37.2) (0.1) - (0.1) - (0.1) (0.1) _ 9.0 - - 3.4 5.6 (9.1) 79.2 - 79.2 79.2 - 79.2 80.6 - 12.2 31.5 36.9 (1.4) 75.5 48.9 26.6 (13.2) 39.8 14.9 24.9 (10.8) 12.8 (25.9) 0.7 1.6 86.3 (2.1) (0.6) (1.5) (0.5) (1.0) (0.5) (0.5) (6.0) (1.5) (1.5) (1.5) (1.5) 3.9 - - - - - - - (9.0) - - (9.0) 9.0 13.8 3.9 9.9 3.1 6.8 3.8 3.0 6.9 6.9 6.9 • - - - - - - (7.2) - - (0.1) (7.1) 7.2 30.2 30.2 - (4.1) 4.1 3.7 0.4 (0.1) 0.3 1.0 (0.5) (0.9) 30.3 53.0 12.0 41.0 26.0 15.0 15.0 - - - - - 53.0 - - - - - - - - - 13.0 (13.0) - 0.7 - 0.7 0.7 - - - 4.5 4.5 - - - (3.8) 2.3 (2.3) - (2.3) - (2.3) - - - - - - 45.3 45.3 - - - - - - - - - 45.3 (0.8) - (0.8) (08) - - - - - - (08) 59.8 49.6 10.2 10.2 - - - - - - 59.8 11.7 (11.7) (3.6) (8.1) (8.1) - - - - - - 101.8 (201.5) 303.3 251.3 520 52.0 - - - - 101.8 - 121.6 (121.6) 3.4 (125.0) (125.0) - - - - - - - - - - - - - - 34.0 - - 34.0 - (34.0) - (17.1) 171 - 17.1 - 17.1 - - - - - - (142.8) (120.9) (21.9) (21.9) (142.8) - - - - - - - (10.6) - - - (10.6) 10.6 196.7 196.7 - - - - - - - - - - 196.7 (8.7) (6.7) (2.0) (2.0) - - - - - - - - (8.7) 2.1 2.1 - - - (2.1) 33.8 - - 33.2 0,6 (33.8) 58.4 11.9 46.5 35.2 11.3 (4.6) 15.9 - - - - 58.4 (1.2) - (1.2) - (1.2) (0.6) (0.6) - - - - - (1.2) - - - - - (3.5) (2.4) - (1.1) 3.5 5.0 3.6 1.4 0.2 1.2 1.2 - - - - 5.0 (1.2) (0.6) (06) (03) (0.3) (0.1) (0.2) 2.2 - 0.7 0.3 1.2 (3.4) (0.2) - (02) (0.1) (0.1) (0.1) - (17.9) (17.9) _ - 17.7 (624) (52.1) (10.3) (2.2) (8.1) (5.2) (2.9) (39.2) (15.2) 15.9 (27.9) (12.0) (23.2) 407.5 66.5 341.0 230.4 110.6 0.8 109.8 111.8 (10.4) 58.4 60.1 3.7 295.7 3.5 - (17.3) - - (28.7) - - - 6.3 (6.3) 110.7 - - (157.8) - - 1.5 (1.5) 43.1 - 43.0 (25.2) - . 9.0 80.6 36.1 - (10.8) 0.9 (5.7) (0.3) - 0.3 (0.3) - (9.0) (3.0) - 6.9 (7.2) 29.9 0.9 (1.0) 12.0 - (4.5) - 4.5 2.3 - - 45.3 59.2 (59.2) 49.6 - 11.7 (10.0) 10.0 (7.1) 7.1 (201.5) - - 121.6 - - 34.0 (17.1) - - (120.9) (10.6) 196.7 - _ (6.7) . (2.1) 2.1 6.9 26.9 11.9 _ 2.4 8.6 (12.1) 3.6 - . (0.6) - 2.2 17.9 266 (44 5) (36.9) (14.1) (25.1) 7"r/. 76.9 13 93.3 18.5 EC 002893138 l3 IQIMdI .,I Pal 2IN. EXH066-00349 ============= Page 15 of 45 ============= 9 0 E. r.. Carp. WMk..k Iackel. 2000 by Quarter 1999 by Quaver 00-99 Comparison 99-98 comparison YTD 4Q Subcateltory Description Year 4Q 91110 3Q 6 mo 2Q IQ Year 4Q 3Q 2Q IQ Incr (Decr) Ince (Decr) 98 Year lace (Deer) 11111 Ilk V.I.i..m. P.IdinFV (1.5) 1.7 (3.2) 1.8 (5.0) (1.9) (3.1) 2.5 6.3 2.0 1.0 (6.8)' (4.0) (4.6) 1.5 1.0 fua I.irV. -I... OPET&OSI 23.3 (5.8) 29.1 18.3 10.8 10.8 - - - - - _ 23.3 IvR P«rV.I..h..m. Tcrhb..rdFV - (14.3) - 0.5 (1.8) (13.0) 14.3 - 0.2 (14.5) I I IR l q. . M,.h.- in,. Espra.r.. EUR 0.7 - 0.7 0.7 - 0.7 0.7 - EUR 22.5 (4.1) 26.6 20.1 6.5 8.9 (2.4) (11.8) 6.3 2.5 (0.8) (19.8) 34.3 -171% (10.4) 130 1.7 (13.5) -194% sA SA /DIVAP . IDIVAI! IDIVAI! Indi. - IDIVAI( IDIVAI! IDIVAI! CAI IM' Ann, l I.....a.h hnn Prania.. Dic!dcd. 12.9 - 12.9 3.6 9.3 8.1 1.2 7.9 2.3 1.0 2.3 2.1 5.0 (2.3) 9.3 (1.6) I Al h" CALME 12.9 12.9 3.6 9.3 8.1 1.2 7.9 2.3 1.0 2.5 2.1 5.0 2311 (2.3) (119) 9.5 (1.6) -17% AMIN _ APACHI - IDIVAI! IDIVAI! IDIVAI! II Fdrv.h.l.a.. Fei,d.rh.o.eIEbnIo,I (4.4) - - - -(44) 4.4 - (7.5) 3.1 PI Fi..e..ilhrlhw. Fau.eoriabulio.. 4.8 - - 3.1 1.7 (4.8) - - 4.8 FI 100 I.ha P.Ifdi, Rd.ld Poled Fon 16.0 (16.0) 1'1 14-as. K b- i... E.pea.4-EI - (31.6) 31.6 Ell - 0.4 3.1 (2.7) (0.4) 1.1 (23.1) 23.5 -1112x fro I* V.I- i.na. Rhp11.. FV _ - 343.6 - 38.2 305.4 - (343.6) - - 343.6 1i(1 f.: V.laa has . Stc.mole FV - 9.8 9.8 - (9.8) (9.8) 9.8 ECI 357.4 9.8 38.2 305.4 (353.4) IDrvAI! (9.8) pf11) 353.4 101 VII! HIWK N, V.Meh.n.e Other (2.5) (3.8) 1.3 1.3 (2.5) (3.8) NTWK (2.5) (3.8) 1.3 1.3 (2.5) IDIVn1! (7.8) IDIVAI! 1DIVnR Ilim. Far V.I. i.n.. Rh)ill.. FV - rerke. (170.5 - - (189.3) 13.8 170.5 - ' (170.5) .a.. Iml.F.1IrR.Rd.1d Rh.-th..hcdae...o.r 1.. - - - . - - - (10.3) (5.5) (5.0) - - 10.5 5.5 (10.5) l'am. I q.ily-in. Do. Rep a,ilr-olT - - - - - - 14.0 (14.0) - - - _ Flim. rlM Palr.li. Rdnd Dan Rep aril-/F (14.0) - (14.0) - - 14.0 - - (14.0) Fs.. aw ralr m Im4ed Rrrl.u ECM Flash (chat (I 1.8) 11.8 - - (11.8) I'Ilm. 1.b. Pm.f.1i. Rd.1a1 Condor eq.ily r.minp - - - - - - - 9.2 9.2 - - - (9.2) (9.2) - 9.2 1 lim, u1., P.nrnan Rd.1.d Olha Itim, thho Pnnrdi, R.l.md Pagrine mdn. (2.4) (2.4) - - 2.4 2.4 - (2.4) I'Ii., I.I., Palmli. Rnl...l R.k.. ECI comp e.prac - - - (66.0) 7.0 (73.0) - 66.0 (7.0) (66.0) Eli.. - (266.0) 8.3 (5.0) (288.1) 18.8 266.0 1411% (8.3) 1111 (266.0) /DIVOT! 1ac.a.e-Mcrchaal1a.x. 462.3 122.9 339.4 171.0 168.4 18.6 149.8 356.7 19.6 118.7 204.8 13.6 105.6 776 103.3 0.4 123.7 233.0 I1Ia.,. EC 002893139 ll.kd. 4(11111.4I3I. 14 112117.n1 4.. PM EXH066-00350 ============= Page 16 of 45 ============= Ear.a C..P. Wh.k..k B.rkel. Subcaleeorv Description 2000 by Quarter 1999 by Quarter 00-99 Comparison 99-98 comparison YTD 4Q Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 3Q 2Q IQ Incr (Decr) Incr (Dect) 98 Year Incr (Decr) GAINS ON SAILS NA Selkkn..R.k. BnaaelLe.per(125) _ _ _ _ _ 10.0 - - - 10.0 (10.0) - NA S ikM .I., Mid Te..u (GcIo.: 125) NA %IIA 5.k. P..d..Ili-(125) 16.6 - - 11.8 4.8 (16.6) - NA Sdkk...ASAi Pin.b.rg Poor PIM 27.0 - 27.0 - - (27.0) . NA Sdkkn..Wlp P..jWR-L(125) 27.4 6.9 20.5 - (27.4) (6.9) NA Ml-wk. WndRi-(125) - - - - - - 16.9 - 16.9 - - (16.9) - NA %.w-10. P..jee1216211 79.0 - 79.0 79.0 - - - - - - - - 79.0 - NA Sdi. w.k. H..n.er comp- Use 1.2 1.2 (1.2) (1.2) NA 79.0 79.0 79.0 99.1 8.1 64.4 11.8 14.8 (20.1) -136% (8.1) (1171 sum Sdkkw.NS.l. Neruen Border (125) - - - - - - - - - - - rCM Sdkk...O. k. P.laad 7.8 7.8 - - - (7.8) (7.8) ICM Sdkk.. WS.k. Pmjecl C-66-W-) - _ ECM 7.8 7.8 r (78) -- - (7.8) Il nl Sdkk..a.a.k. BiRelkd - - - - - - - 4.8 4.8 - - (4.8) (4.8) INII "M-15d. ETOL(125) 108.1 108.1 - - - - - - - - - 108.1 108.1 1110 S.lM A).le Mip.s 11(125) 36.8 36.8 - - - - - - 36.8 36.8 17111 SdM...rs.l. Po1..d - 7.5 7.5 - - - (7.5) (7.5) fuR SdMI-I.W a Rirer.ide 3/4 (125) - - - - - - - - - - - - - - Will Sdd..n lS.le. Riea.ide S (125) - - - - - - - 2.0 - - - 2.0 (2.0) - Fill SdkL...NS.k. Sail.. Brdae 3 (125) 9.7 8.7 - 8.7 8.7 - - - - - 8.7 - Il sit RdIkk- R.le S.II.r. Bridge 4 (125) 39.0 0.3 38.7 (39.0) EUR 153.6 144.9 8.7 8.7 8.7 33.3 12.3 0.3 38.7 2.0 100.3 %015i 132.6 34 SA SrilJ ale C.lab. - - (1.6) - (1.6) - . - 1.6 - SA Selki..rS.ln E.Pen.ao SA (1.6) (1.6) 1.6 .oIVAP IDlvm! India - IDIVAI! /DIVA/! CAI.MI Aikknoo .ka pier.. Rk. (Ch-hill 125) CAI MP. Se1Mu..OS.k. E o Ekelrk. 0.3 - 0.3 - 0.3 - 0.3 - - - 0.3 - LAI.MI: loll. adS.la H.lna 10.7 - 10.7 5.3 5.4 5.4 - - - - - 10.7 - CAI.MI' SdI .A.I EIpoo.n - CALME 11.0 11.0 5.3 5.7 5.4 0.3 - 11.0 IDIVAI! 8Dlvml APACm Sdkk....%.k. G- (125) 140 - - - 14.0 (14.0) - APAI'III S,Jkk. AS.k. E.pcn.e. APACHI - - - - 14.0 - 14.0 (14.0) -1101/. IDIVAq 13110 S.-M- k. - Cmu. - - - - - - 0.5 - - - 0.5 (0.5) . IIIR) S) Olher0.isin.lion. 19.5 9.4 10.1 4.0 6.1 3.6 2.5 13.5 1.6 2.9 5.0 6.0 4.0 7.8 21.3 (5.8) NA IRyi.i-jco...K9) P.I. Sp.i.1$ S. S. Frnlci.co - - - - - - - 8.0 - - 8.0 (8.0) - - 8.0 NA '.i.i.Ni..(C..l.rdily) Peop ei 14.0 4.0 10.0 - (14.0) (4.0) - 14.0 NA 1Rywk..(c....ayl QN.Iiloch 6.9 - 6.9 - - (6.9) - - 6.9 NA Iwipwimlco.m.kly) WAPA - 41.6 (41.6) NA (Rywmrlc. rmdI) WahonEMC - - - - - 7.9 7.9 - (7.9) - - 7.9 NA (Rpw.nlcmrn.Wy) Milto-Cnln 8.5 8.5 - (8.5) (1.5) - 8.3 NA IRywin..le....di9) WNP(BPA) 47.4 (47.4) NA 39.9 15.1 24.8 8.6 16.2 7.4 8.1 104.0 15.5 25.4 30.7 32.4 (64.1) (0.4) 183.5 (79.5) 181 POWtR ORIGINATIONS-NA NA 4Ripw;ne.lco..l.an1 Coca.. - - - - - - - 5.5 5.5 - - - (5.3) (5.5) - 5.5 NA nipiMl...ICn...Wy) Crmlco 31.6 31.6 - 31.6 10.5 21.1 40.6 22.2 15.3 3.1 (9.0) (22.2) 40.6 NA (RyiMlm. (Cmm..Ji1.) Crco-Pe.kcn T.-Ii- - 49.0 49.0 - _ (49.0) (49.0) - 49.0 NA Mipwinn.(C....dar) 011..OtiainNion. 18.2 8.6 9.6 8.0 1.6 - 1.6 - - - 18.2 8.6 - NA 4hipwko(Cmnm.sly) U.iudillnoninnina _ 30.0 30.0 (30.0) (30.0) - 30.0 NA 49.1 1.6 41.2 8.0 33.2 10.5 22.7 123.1 106.7 15.3 3.1 (75.3) (98.1) 123.1 ICI POWER ORIGINAT10NS - RUN FUR 11ripiMi.n lCmnmoditY) E..(eM I Tilt 11 - - - - - - - - - - - 7.0 (7.0) 1: 11% Ikipi~k.ycmm.NIyj E.Ocn I TIN 111 16.9 (16.9) 1-11R 4Ripww/C.moc AI) Eulen If 42.8 (42.8) ILI IR IRipwk..(C-w&y) E..Mn T..V.utiu. - - - - - 96.3 - - %.3 %.3 FUN (Ripi.i...(C.nm.lig) E- Cub (2.3) 2.3 111R /Ripwk..lCmnnl.kly) Olhcr O.ia,Mlicn. OUR (Ripwkml:a,u., E.pcn.n - (30.2) (9.7) (6.5) (7.4) (6.6) 30.2 9.7 (20.7) (9.5) EUR 66.1 (9.7) (6.5) 88.9 (6.6) (66.1) 9.7 43.7 22.4 EC 002893143 ik.&- 4(p.. 4p. l8 1.7 11711.1 4 . M EXH066-00354 ============= Page 20 of 45 ============= Ear.. Carp. ' 0 0 Wh.k..k Racket. 2000 by Quarter 1999 by Quarter 00-99 Comparison 99-98 eomparison YTD 4Q Subca eeorv Description Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 3Q 2Q 10 Incr (Decr) Incr (Deer) 98 Year Incr (Decr) I°I FAIR VALVE INCOME-NA NA I.ie V.h.. Ice... Active Power 60.9 - 609 60.9 60.9 - - - NA rdeV.l.ch.w.c A. eic..Co.l (3.7) - (3.7) (3.7) - - - - - - - (3.7) - NA F.ir VW.e h.w.e Hilt, FV 4.5 (4.5) NA F.k V.i.e b.ome Bilbo Eq.io 6.2 (6.2) NA I.ie V.h, h.wae Black Moanui. FV - _ - - - - 7.3 3.0 4.J - - (7.3) (3.0) - 7.7 NA 1wvi.ri.r- Ben.cTeere (2.6) (2.6) (2.6) - - - - - - - (2.6) - - - NA r.irV.wrl.o..r Brisket (55) - (5.5) (5.5) - - - - - - - (5.5 ) - NA FIVd.ehcwne C..d.FV 2.3 - 2.3 1.4 0.9 0.9 - (1.6) (1.6) - - 3.9 1.6 (2.2) 0.6 NA Ice V.I.I. G.fibre B.OIIO FV - - - - - 6.0 (6.0) NA F.hVA.irc.r.r C..IIbreRi.er.i&IPC (42.8) - (42.8) (37.8) (5.0) (5.0) (2.2) - - (2.2) - (40.6) - - (2.2) NA F.&Vd.rk.a.. Cori-FV 01 - 0.1 - 0.1 0.1 (5.6) - - (5.6) - 5.7 - - (5.6) NA F.b Vale hce..e CaI.411c. FV 69.8 - 69.8 69.8 - - 16.5 8.0 - 2.0 6.5 53.3 (80) - 16.5 NA I.& V.Ic Iaen. Cip' Form FV (1.0) - (1.0) - (1.0) (1.0) - - - - - - (1.0) - 5.5 (5.5) NA I'm V. I.... Cook laid FV 2.3 (2.3) NA F.i.V.h.h.... (7--fills FV (8.0) - - (5.1) (2.9) 8.0 - (3.0) (5.0) NA I.ie Vw.e I.- Crp eu Eapl FV (50) - (5.0) - 5.0 - - (5.0) NA rah V.ke h.... E.A Coca Powe FV . • - - - 4.4 - - - 4.4 (4.4) - - 4.4 NA r.i. V.h.I..- Ecup. FV (37.4) - (37.4) (37.9) 0.5 0.5 - 10.8 10.8 - - (48.2) - 10.8 NA I.k Vd.w h.®. Fi.M World FV (21.6) - (21.6) (20.8) (0.8) (29.6) 28.8 %.8 4.0 41.4 38.4 13.0 (118.4) (4.0) - %.8 NA F.hvr.ei.rw.. He.nkndSh FV (9.1) - (9.1) (4.8) (4.3) (4.3) - 6.7 - - - 6.7 (15.8) 11.6 (4.9) NA I ..e V.l.e hcw.c Hedge Perfone.nee FV (17.1) - (17.1) (1.1) (16.0) (2.0) (14.0) (105.9) 4.0 (5.7) (68.2) (36.0) 88.8 (4.0) 1.2 (107.1) NA V.I,vl.ehe.n. H.phe.R.wk. (5.6) - (5.6) - (3.6) (5.6) - - - (5.6) - . NA I.h V.1, h.ww: NV Man.. 11.7 - 11.7 10.2 1.5 1.5 - - 11.7 NA r.irV.h.h.r... K.f. FV (118.0) - (118.0) (65.9) (52.1) (28.7) (23.4) 47.8 (4.5) - 38.9 13.4 (165.8) 4.5 11.9 35.9 NA f... Vd.. h.a.e Ke.dley Cancer. FV - - - - - - - - (2.1) 2.1 - - - NA t.k V. I.- Li.dcr Oil 1.2 - 1.2 - 1.2 1.2 - - 1.2 - - - NA F.ir V.I-h..... M.nnee N (0.2) - (0.2) (2.5) 2.3 23 - 14.7 - - (2.7) 17.4 (14.9) - 14.7 NA I.irV.l-k.wne Merlin (15.8) - (15.8) (5.5) (10.3) (103) - - - - - (15.8) - - - NA r.1. V.I..hcee,o NSM Fv - - (10.6) (8.2) (2.4) 10.6 - (3.4) (7.2) NA F.kV.I..I.... OcoetaF.O.FV (6.7) - (6.7) (6.7) - - (2.7) (2.7) (40) - 8.0 (10.7) NA I'.ieV.h.hewn. Other-FV 6.2 - 6.2 33 2.9 3.1 (0.2) (1.2) 0.3 (2.7) (0.8) 2.0 7.4 (0.3) 4.3 (5.5) NA F.kV.I..I...- P.pierM...onrv (2.8) - (2.8) (3.8) 1.0 1.0 - 10.3 4.2 - - 6.1 (13.1) (4.2) - 10.3 NA 1-air Vela. I..we Qaditeeh FV _ - (67,7) - - (42.6) (25.1) 67.7 - (67.7) NA I.ir V.1ae I..- QaceI FV 25.6 - 25.6 25.6 - 25.6 5.4 (11.6) 14.3 2.7 20.2 - 7.3 (1.9) NA F.ie V.I..I.ce... Roconnc.r.. FV (4.8) - (2.2) (2.6) 4.8 (0.1) (4.7) NA I'.ir Vd.r inw.c Rcp.p FV (7.1) 7. I NA Lir V.lue I.- Slraelard c edit FV - - - - - (7.8) - - (7.8 7.8 - - (79) NA I.i. vale. iw wn. Vcaoco FV 14.6 14.6 13.8 0.8 0.8 1.2 1.2 13.4 1.2 NA (97.5) (97.5) (39.2) (58.3) (70.1) 11.8 (1.2) 17.4 36.5 (61.6) 6.5 (%.3) (17.4) 53.0 (54.2) IRI FAIR VALVE INCOME. [I 17 I.ie V.I.c ire .e Adrian Rno.rcea FV (2.2) 2.2 I'I r.i. V.1m hewn. B.cheg.ero rv (2.3) 2.3 1'1 1'.ir V.l.e i.rw.c Mariner FV 2.0 (2.0) II F.ie V.Lei.ewne NSM FV (4.4) - - (44) 4.4 - (44) it ow, Vdoe i..w.e Promip. rv (5.0) 5.0 El - (4.4) - (4.4) 4.4 - (7.5) 3.1 EC 002893144 4Im ae a 41/.i /9 Irl IR...1 ... rN EXH066-00355 ============= Page 21 of 45 ============= p 0 0 Erxon Car En Tranapata8on S.rvic.n (EGPG4) D.1 Red Variation Maly.is 4th Quarter Year Ended Dan 31 Fourth Quarter 9 mo Ended Sept 30 Thud Quarter 6 Me Ended June 30 Second Quarter First Quarter 2000 1999 Ina fDecrt 2000 1999 Inca (Decry 2000 1999 )nn (Deer) 2000 1999 Inn (Dece) 2000 1999 Inn (Den) 2000 t999 Incr ( Dace) 2000 1999 love (0eer) Revenues NNG 505.3 4913 142 JJ 1379 138.6 (09) 367.6 352.5 151 W 80.2 1214 (412) P 2674 231 1 56 3 1216 09.7 319 1 165.8 141A 244 A T W 1849 156.5 28.1 KK 53.9 395 144 AA 1310 117.3 13.7 0 484 407 7.7 0 62.6 . 746 . 60 43.3 375 5.6 1 393 39.1 0 2 9 Other Op. 8.5 4.9 36 5.7 14 4.3 2.8 3.5 (0.7) 12 1.0 02 1.5 2.5 (09) 0.0 0.8 0.6 1.7 (09) 698.9 653.0 45.9 197.5 1797 17.8 501.4 473.3 28.1 129.9 183.1 (33.3) 371.6 310.2 61.4 165.7 128.0 37.7 205.9 182.2 237 Cosl of Sales NNG 13.7 16.0 (23) LL 14 0.7 07 123 15.3 (30) X 12 12.7 (11.5) P 11.1 2.6 8.5 10.3 21 8 2 1 0.8 0.5 0 3 TW 354 11.3 24.1 BB 14.7 3.5 11.2 BB 20.7 7.9 12.9 0 9.0 4.8 4.2 0 11.7 3.0 0.7 7.8 2.0 5.8• 4 3.9 1.0 29 C Other opt 49.1 27.3 21.8 16.1 1.2 11.9 33.0 23.1 9.9 10.2 17.5 (7.3) 22.8 6.6 17.2 (5.1 4.1 14.0 4.7 1.5 32 Gro8i M NNG 491.9 4753 16.5 136.5 136.1 (1.6) 3553 337.2 181 790 105.7 (297) 276.3 2285 47.8 1113 87.6 23.7 165.0 1409 241 7W 1495 1455 40 39.2 360 3.2 1103 100.5 0 8 394 359 3 5 70.9 736 (2 7! 355 355 - 354 38.1 (27) Other PA. Opt 8.5 1.9 36 5.7 14 4.3 2.9 3.5 (0.7) 12 1.0 0.2 1.6 2.5 11, ' 0.6 06 0.5 1.7 (0.9) 649.8 625.7 21.1 181.4 175.5 59 488.4 450.2 182 119.6 115.6 (26.0) 348.8 3046 4. -1 _ 147.6 1239 23.7 201.2 180.7 205 tat Yd tact NN0 . 2305 2174 13.1 MM ' 659 61.7 4.2 CC 164.6 1557 89 Y 53.5 54.8 (1.3) 111.1 1006 10.2 57.5 501 74 K 53.6 50.0 28 0 TW 28.2 436 (154) DO 33 11.5 (6.2) 00 249 32.1 (72) R 6.1 10.4 (4.3) R 186 21.7 (2.91 9.5 too (13) 1. 9.3 109 (16) E EO1T - 1 2 (12) (0.1) 07 (06) 01 05 (04) (02) - (02) 0.3 05 (0.2) 0 1 05 (04) 0.2 - 02 Other Op. 22.6 / 6 210 00 8.2 (03) 5.5 144 19 125 34 (07) 4.1 S 11.0 26 6.4 8.4 29 s.5 2.6 (0.3) 2 0 F NNG-depeclatlon 47.2 466 04 124 9.3 31 EE 31.9 375 12.7) T 12.0 13.3 (1.3) T 22.9 242 (14) 11.7 123 (0.6) 11.1 11.9 (O S) 1W-depredation 196 I9.0 06 53 5.2 0.1 14.3 13.5 05 45 46 (01) 9.8 9.2 06 5.0 46 04 48 46 0.2 Other Ops - depred.eoe - 0.3 (0.3) - 0.3 (0.3) 0.1 (01) 0.2 (0.2) 0.2 (02) 345.1 329.9 18.2 95.0 88.1 6.9 253.1 241.8 11.3 793 825 (3.2) 173.8 159.3 14.5 92.2 512 11 0 516 76 1 3 5 . . . Operating (near.. 301.7 295.6 59 86.4 87.4 (1.0) 215.3 208.4 69 40.3 63.1 (22.6) 175.0 14153 29.7 554 42.7 12.7 1196 102.6 170 E NNG(Treill z.r.OveNruo() 41 1.9 2.2 FF 1.2 02 t.0 FF 29 1.7 1.2 0 t.0 0.9 0.1 1.9 06 1.1 10 0.6 0.2 0.9 - 06 O CNUS 500 25.0 250 GO /S.0 7.7 73 GO 350 17,3 17.7 U 19.5 5.7 13.9 U 15.3 116 3.9 0.0 5.3 37 M 6.5 03 02 Northern Border 7.7 7.8 01 2.1 1.6 0 3 56 s.0 (02) 22 1.7 0.S 3.4 4.1 (07) 1.7 23 (06) 1.7 16 (01) EOTT Other 69 2s (2e) (o.2) (15) 1.4 11 5.1 (4.o) so 5.4 (54) (3.f) (o.3) 13.5) (i.e) (03) (15) (2.1) (21) H TOTAL 62.7 38.0 21.7 18.1 8.1 too 446 299 14.7 27.7 13.7 14.0 16.9 162 0.7 9.9 8.1 1.8 7.0 0. (1.1) Gans on sales NNG (OvsrMus9Kin fm.n Larrd/Zavals) 1.0 - 1 0 1 0 1.0 - - - 1.0 1.0 / 0 - 1.0 - NNG (Tejas/Chwrrptin) - 0 7 (07) - - - 01 (0.7) - - - 0.7 (0.7) - - 0.7 (0 7) NNG (Seagull '00) 1.2 - 1 2 NN 1.2 t0/ 12 - - - _ - TW(Burton Fists) - 2.0 (20) - 0.1 (01) 1.9 (1.9) - 1.9 (1.9) - - - - - Tr.rihlezer Monedtallon Customer Couny Assets - - Other 0.s (05) 0.) (0.1) 04 (04) 0.1 (01) 0.3 (0.3) 03 (0.3) 2.2 3.2 (1.0) 1.2 0.2 1.0 to 3.0 (2.0) 2.0 (2.0) 1.0 1.0 1.0 03 0.7 0 7 (0 7) . . t ote Income Interest Income 0.9 15.0 (172) - (0.3) 03 06 183 (17.5) - 7.0 (70) 06 11.3 (10.5) OS 113 (108) N 0.3 - 03 00 Interest Lock 1196 KN Deposit - 9.0 (90) - - - 0 0 (9.0) - - 9 0 (9.0) - 9 0 (90) 99 Coeom /'98 Kansas Ad valorem refund - 9.0 (90) - - - 9 0 (90) - f 0 (9.0) - 9.0 (90) 09 Beer Pew 6 KMI /98 Vehicles sales (28) 2 8 (05) 0.5 (23) 2 3 05 (05) - (2.0) 2.8 - - - (28) 2 8 NP (Raimb. Of Transcend. Payment) 90 (90) - 9.0 (90) - - 9.0 (9.0) - 0.0 (90) - - NNG OverOrcust 2000 1 0 10 - 10 10 - - 1.0 - 10 01 - 0 1 09 - O9 NNG Conoco 2000 (23) (23) NN - (23) - (23) (03) - (0.3) (20) (20) (20) _ (20) - ENAswap2000 147 11.7 00 - 147 147 - - 14.7 - 14.7 147 147 0 - - NNG (Cooper C.ewon Inventory sale) 11.0 I t 0 PP 1 t 0 - 1 t 0 V 110 - 110 Other 10.6) 06 (14) (27) 1.3 (40) 5 21 (05) 26 4.4 (1.0) 54 (2.3) 0.5 (26) (23) 1.1 (34) - (08) 06 TOTAL 246 43.0 (154) (2.7) 0.5 (3.2) 273 42.5 (15.2) 15.1 6.5 8.6 12.2 36.0 (23.8) It.0 21A (104) 1 2 146 (134) . 181T 391.2 380.0 11.2 103.0 96.2 6.8 288.2 253.8 4.4 83.1 65.3 (2.2) 205.1 198.5 6.6 77.3 72.5 45 127.0 1260 is, EC 002893145 .2o EXH066-00356 ============= Page 22 of 45 ============= NNO 2424 2296 12.6 569 973 (104) 1653 1623 232 27.9 419 (140) 1576 1204 372 555 26.3 292 102.1 94 1 6o MUM 1037 64.6 ISO 306 193 113 73.1 65.5 76 30.9 228 a.1 422 427 (0.5) 20.9 201 06 213 . 226 (13) EOTT S0.0 25.0 250 1S.0 7.7 73 35.0 173 17.7 19.5 57 138 15.5 tie 39 90 5.3 3.7 6.5 6.3 02 Oer.r Ops 1.7 e 210 (193) (00) (1.4) 14 1.7 224 (20.7) 49 11.5 (6e) (32) 10.9 (141) (1.3) 109 (17) (19) - (19) ) ro. 196 (26.21 0.5 3.3 (26) (7.1) 103 (23.4) (0.1) 34 (3.51 (70) 12.9 (199) (19 9) (6 9) 99 (166.7) (02) 30 (3.2) TOTAL MIT 391.2 360.0 112 103. 996.2 86 266.2 283.8 4.4 53.1 85.3 (2.2) 205.1 196.5 . 66 . 77.3 72.5 46 127.9 126.0 1.8 linforest Expense IM kn 3rd Party debt 394 379 11 9.5 92 03 29.9 26.7 12 95 9.1 0 4 204 196 06 99 9 8 0 1 10 5 9 11 07 0OWbids MSres1 143 (14.3) - 31 (3.1) - 112 (11.2) 597 38 55.9 - 7.4 (67.1) - . 36 . (39) . - , 36 (36) Capilatzed Mlerest (0.7) (16) 0.9 (0.2) (0.5) 0.3 (0.5) (1.1) 06 (03) (0.1) (02) (0.2) (1.0) 09 (0.1) (0.3) 0.2 (0.1) (0 7) 06 IM exp • bad* 38.7 50.6 (11.9) 93 11.9 (2.5) 29.4 389 (9.4) 689 12.8 56.1 20.2 26.0 (655) 9.e 13.3 (3.5) 104 . 12.7 (23) lrsercoiderst(incyexp - (129.2) (107.0) 122.2) (34.3) (24.7) (96) (94.9) (62.3) (126) (35.2) (25.7) (95) (59.7) (566) (31) (29.5) (26.6) (09) (30.2) (28.0) (22) (90.31 (56.4) (34.1) (25.0) (12.8) (12.1) (65.5) (43.5) (22.0) 33.7 (12.9) 46.6 - (39.5) (30.6) (66.6) (19.7) (15.3) (4.4) (19.6) (15.3) (4.5) Margins increased $9mm primarily due to new rates n 2000. rate case reserve of $9.4mm n 1999 and $4.2mm rate case refund reserve reversal in 2000. Bloomfield BIat) contrail buyout n 1999 of $3.6mm partially offset by $2.8mm of operational gas sales n 2000. Operational gas sales Higher Corporate allocations n 2000. Fuel used n operations n 1999. Primarily due to SAP system costs of $2.5mm n 2000. Trailblazer Partnership blooms EOTT was reported n Corp 6 Other in 1999. Base Gas Sale n 2000 resulted n $51.2MM of revenue and $9.1 MM n costs. Prime* operational gas sales (sale of fnepedc) n 2000. SBA Fees n 2000 $2.4mm. Regulatory Amortization n 2000 $2.3, Higher Corporate allocations in 2000 $3.3. Other $1.4mm. Unaccounted fuel percentage dropped n 2000. compared to 1999. resulting n upside. Lower financing costs, due to interest hedge on debt. Lower EOTT interest income Earnings from derivative related to'99 Base Gas transaction were locked in during 2000. Bass Gas Sale in 1999 resulted n $33.8 in revenue and $11.1 n costs. Primarily operational gas sales (sale of finepadk) in 2000. Unaccounted fuel percentage dropped n 2000, compared to 1999, resulting in upside, and higher gas prices n 2000 resulted n upside in fuel over-relainage. Compensation plan accrual Timing of depreciation will be offset in 402000. Charge due to FAS 133 Gain from sale of inventory parts to Cooper Cameron n 2000. Primarily due to larger bass gas sale n 2000 ($51.2MM) versus 1999 ($33.BMM). Primarily due to costs of bass gas sale in 1999 ($11.1MM) versus 2000 ($91MM). SBA Fees in 2000 $3.7mm, Regulatory Amortization in 2000 $5.8, Other ($.4MM) 4TH Ouster Variance Explanations AA Primarily operational gas sales (sale of lnepadc) in 2000 $10.7 and margins increased $3.5 in 2000 primarily due to a higher index price. BB Primqrily costs associated with operational gas sales (sale of linepack) in 2000. CC SBA Fees n 2000. DO Unaccounted fuel percentage dropped in 2000, compared to 1999, resulting in upside, and higher gas prices in 2000 resulted in upside in fuel over-retainage. EE Higher depredation in 4th qtr. due to liming. Only a .4 increase from 1999, for the year. FF Trailblazer Partnership income GO Change due to adoption of FAS 133 HH Gain on sale of Seagull asset in 2000. II Deferral of gain on sale of inventory sale to Cooper (54.5). Gain on TransCanada Swap $1.5, NW Alaska Pipeline Indemnification ($.5). Other ($1.3) YTD 2000 Variance Explanations JJ Primarily due to larger base gas sale in 2000 ($51.2MM) versus 1999 ($33 8MM) KK Primarily operational gas sales (sale of liepadk) n 2000 $22.9 and margins increased in 2000 primarily due to a higher index price. LL Primary due to costs of base gas sale in 1999 ($11.1MM) versus 2000 (59.1MM). MM Primarily SBA Fees in 2000 $8.6. Corporate Allocations in 2000 $2.6., and other $2.0. NN Conoco litigation reserve in 2000. 00 Earnings from derivative related to'99 Base Gas transaction were locked n during 2000. PP Gain from sale of inventory parts to Cooper Cameron in 2000. 00 Primarily due to increased bonus accruals. SAP costs, compensation plans and expensed IT projects, totaling $14 5 million. 21 EC 002893146 EXH066-00357 ============= Page 23 of 45 ============= 9 0 Enron Cap Portland General (PGE4) Detailed Variation Analysis 4th Quarter Year Ended Dec 31 Fourth Quarter 9 nor Ended Sept 30 Third Quarter 6 Mo Ended June 30 Second Quarter First Quaver IBIT 2000 1999 Inns pea 2000 1999 Incr(Dea) 2000 1999 Incr(Decr) 2000 1999 Irss(Dea) 2000 1999 Ina(Dea) 2000 1999 1na(Dens) 2000 1999 Incr(Dea) Gross revenues PGG Retail 6 Other 1.084.7 1,023.5 81.2 3044 286.2 18.2 7803 7373 43.0 2478 229.6 182 532.5 507.7 24.8 249.4 2340, 15.4 283.1 273.7 9 4 PGG IMwlesale 1,170.9 355.3 - 8156 394.2 902 304.0 776.7 265.1 511.6 480.8 178.1 3027 295.9 87.0 208.9 181.9 Big 120.1 114.0 25.2 88.8 Gross revenues 2.255.6 f3 78.8 - 876 .8 698.8 376.4 322.2 1.557.0 1.002.4 554.6 726.6 407.7 320.9 8284 594.7 233.7 431.3 295.8 135.5 397.1 298.9 98.2 Cost of Isles PGG Dow (1.461.1) (639.4) (821.7) (484.7) (179.1) (305.6) (976.4) (460.3) (516.1) (5225) (241.2) (281.3) (453.9) (219.1) (234.8) (251.4) (119.3) (132.1) (202.5) (99.8) (102.7) Cost of sales (1,461.1) (639.4) (821.7) (484.7) (179.1) (305.6) _ _ (976.4) (4603) (516.1) (522.5) (241.2) (281.3) (453.9) (219.1) (234.8) (251.4) (119.3) (132.1) (202.5) (99.8) (102.7) Gross margin 794.5 739.4 55.1 213.9 197.3 16.6 E 580.6 542.1 38.5 206.1 166.5 39.6 E 374.5 375.6 (1.1) 179.9 176.5 3.4 A 194.6 199.1 (4.5) Operating expenses (255.7) (2428) (12.9) (688) (65.3) (3.5) L (1869) (177.5) (94) (66.2) (596) (66) F (1207) (1179) (2.8) (613) (646) 33 8 (59.4) (53.3) (6.1) DDEA(indfair value) (210.6) (1804) (30.2) (58.8) (434) (154) M (151.8) (137.0) (14.8) (593) (43.4) (15.9) 0 (92.5) (93.6) 1.1 (462) (471) 09 (46.3) (465) 0.2 Taxes. other (64.8) (80.9) (3.9) (132) (143) 1.1 N (51.6) (466) (50) (184) (152) (32) N (33.2) (31.4) (1.8) (153) (14.4) (09) (179) (170) (09) Equity In eamtngs of unconsol 2.6 12.3 (9.7) 1.0 1.3 (0.3) 1 1.6 11.0 (94) (0.9) 1.7 (2.6) 1 2.5 9.3 (6.8) 1.2 37 (25) 1.3 56 (43) Other Income. net Customer Choice 31.0 - 31.0 P - - - 31.0 - 31.0 - - - 31.0 - 310 - - - 31,0 - 31.0 COLT (19) 18.1 (200) (93) 1e.1 (274) 74 - 7.4 (3.9) (3.5) (04) 11.3 3.5 7.8 0.6 1.6 (1.2) 107 1.7 90 BPC stock sale 5.7 - 57 - - - 57 - 5.7 - - 5.7 - 57 - - 51 - 5 7 agreement ( ) ( ) ( ) 1 ) (11.5) - (11.5) (11.5) - (LLS) Gain on sale of 108 - 10.8 - _ 10: - 10.6 106 - 10.6 J - - - Gain on Seneca Partnership 450 - 450 450 - 450 - - - - _ - Trojan valuation 19.0 - 190 190 - 19.0 NEIL settlement 14.0 - 14.0 14.0 - 140 0 Centratlavaluation - 160 (16.0) - 18.0 (160) Other 8.0 3.8 4.2 17 (4.0) 5.7 6.3 7.6 (1.5) 5.8 54 0.4 0.5 24 (1.9) 3.4 0.5 2.9 C (2.9) 1.9 (4.8) IBIT 385.9 305.5 80.4 144.5 105.7 388 241.4 198.6 41.6 73.8 51.9 21.9 167.8 147.9 19.7 62.3 564 5.9 105.3 91.5 13.8 Less recess of gain on Seneca (45.0) (45.0) (45.0) (45.0) Adjusted IBIT 340.9 305.5 35.4 99.5 105.7 (6.2) 241.4 199.8 41.8 73.8 51.9 21.9 167.6 147.9 19.7 62.3 56.4 5.9 105.3 91.5 13.8 Interest Expense Int on 3rd party debt 64.8 576 7.2 18.8 13.7 3.1 48.0 43.9 4.1 18.8 14.1 27 K 31.2 298 1.4 18.7 132 3.5 D 14.5 lee (2.1) Other trade Interest 7.5 10.1 (26) 1.1 3.7 (26) 6 4 6 4 - 10 2.3 (0.7) 4.8 4.1 0.7 15 25 (10) 33 16 17 Capitalized Interest (34) (1.7) (17) (10) (06) (0.4) _ (2.4) (11) (1.3) (1.0) (0.4) (06) (14) (0.7) (0.7) (08) (0.3) (05) (06) (04) (0.2) IM exp - trade 689 660 29 16.9 lea 0.1 52.0 492 28 174 160 14 346 33.2 1.4 174 154 2.0 172 178 (06) Interco interest (inc)1exp (1.5) (15) - (0.1) (15) 14 (14) - (1.4) (04) - (04) (10) - (1.0) (0.5) (02) (03) (05) 02 (0.7) 67.4 64.5 2.9 16.8 15.3 1.5 50.6 49.2 1.4 17.0 10.0 1.0 336 33.2 0.4 169 15.2 1.7 16.7 18.0 (13) A GM ins due to POSE taking advantage of a long position in a high cost market B Ira due to $3.7m gas transportation redess now in GM C Ira due to reversal attend demolition reserve offset by reduced COLT income D Ira. In debt related to new dent issue of S 150mm n E GM ins due to PGE taking advantage of seeing length into an Increasingly high cost market ' F Increase due to higher plant maintenance $2.1mm. SO. Bmm restructuring costs, contract termination payment $2 3mm, higher advertising cost. G Increase due to defenal of gain on sale of Coyote II of 510.6mm, as well as increased capital additions. H Increase due to higher property taxes, franchise fee and FICA on stock option I Decrease reflects Senea unwinding expenses (Lease portfolio) ' J Gain on sale of Coyote II. deferred in Depr and Amat. K More long-team debt issued at a higher interest rate L Increase due to higher generation maintenance & delivery system costs S5mm. S2mm higher energy efficiency 6 advertising costs. (S3)mm decreased charges from Corp due to SAP M Increase due to Trojan settlement, Oneida Leasing. 1999 salesigain. higher capital additions N Decrease due to FICA on less stock options exercised in 40. higher property taxes. franchise fees 0 Ned Set9ement termination of PGE's membership in NEIL. resulting in cash dividend of which POSE retains 45% and POE autacers receive 55%. Other 16D reflects 6* 45% retention; the 55% is recorded in account 0815. P Reversal of remaining accrual for program. Customer Choice, cancelled in 1000. EC 002893147 EXH066-00358 ============= Page 24 of 45 ============= f Enron Corp Retell Energy Services (RETAIL4) Detailed Variation Analysis 4th Quaver Year Ended Dec 31 Fourth Quarter 9 mo Ended Sept 30 Third Quarter 6 Mo Ended June 30 Second Quarter First Quarter 2000 1999 Incr Dna 2000 1999 hrcr (Deco 2000 1999 I= (Dea) 2000 1999 Incr (13e0 2000 1999 Inrr (Decry 2000 1999 1ncr (Dear) 2000 1999 Ina IBIT Gross revenues Gas sales 1.412.3 867.5 7448 497.1 1928 3043 9152 474.7 4405 4059 1465 2594 509.3 . 3282 181.1 253.6 144.6 1092 255.5 1838 711 Power saws 1,439.4 398.0 1.041.4 592.9 774 515.5 846.5 320.6 5259 5965 221.9 3746 250.0 99.7 11513 178.4 514 117.0 71.6 37.3 34.3 MTM 475.9 147.2 328.7 270.7 724 1983 . 22052 748 130.4 55.5 277 271 1497 47.1 1026 76.7 18.7 58.0 730 28.4 44.6 Facilities Services 651.7 470.6 180 9 1957 . 11199 75.8 458.0 3509 1051 1876 1205 . 67.1 2694 230.4 380 1358 1104 17.4 1326 112.0 206 Outsoaoe & Other 4723 53.1 4192 188.9 273 141.6 3034 25.8 277.8 142.7 25.8 117.1 180.7 02 160.5 119.5 (8.9) 128.4 41.2 7.1 341 EES Intl 163.0 463 116.7 (68.9) 463 (1152) 231.9 - 2319 87.6 - 87.9 144.1 - 144.1 76.1 - 761 88.0 - 68.0 Imestrnent Eamirgs - 24.4 (24.4) 19.1 (19.4) 5.0 (5.0) - - - 5.0 (50) - 3.6 (38) 1.2 (12) Total Gross revenues 4.614.6 1.907.3 2.807.3 1.856.4 555.5 1.100.9 2.958.2 1,251.8 1,706.4 1,176.0 542.2 933.8 1,482.2 709.6 772.6 640.3 340.0 500.3 641.9 369.6 272.3 Cod of saws Gas (1.399.0) (672.5) (7265) (499.9) (2008) . ((2931) (599.1) (465.7) (4334) (3963) (1432) (2531) (502.6) (322.5) (180.3) (247.3) (140.0) (106.7) (2555) (181.9) (738) Power (1.4021) (4028) (1.000.1) (596.7) (77.8) (5169) (808.2) (325.0) (4512) (5628) (2197) (343.1) (243.4) (105.3) (1381) (172.6) (635) (109.1) (708) (41.6) (290) Facilities Services (5592) (399.5) (1597) 1173.4) (998) (736) (3858) (299.7) (eel) (152.9) (1016) (51.3) (2329) (199.1) (341) (119.2) (101.5) (17.7) (113.7) (961) (17.1) Outsource & Other (526.8) (51.3) (4755) (1976) (254) (1722) (3292) (25.9) (3033) (156.8) (20.1) (1364) (172.4) (5.5) (166.9) (1301) (0.9) (129.2) (423) (41) " (377) EES Inn (139.9) (25.4) (1145) 25.0 (25.4) 50.4 (164.9) - (164.9) (56.7) - (50.7) (106.2) - (108.2) (51.0) - (51.0) (57.2) - (572) Total cost of saws (4.027.8) (1,551.5) (2.4763) (1442.6) (435.2) (1.0074) (2.585.2) (1.1163) (1.468.9) (1,325.5) (4849) (640.6) ~9.7) (6314) (628.3) (720.2) (300.5) (413.7) (539.5) (3249) (2146) Gross margin Gas saws 13.3 (50) 183 (2.6) (140) 11.2 18.1 9 0 7.1 9.0 33 63 E 65 5.7 0.8 65 40 2 5 - 1.7 (17) Power saws 365 (4.8) 41.3 (3.8) 40.4) (3.4) 403 (44) 447 33.7 22 31.5 E 66 (e1) 132 5.8 (2.1) 7 9 06 (45) 53 MTM 475,9 117.2 328.7 270.7 724 1961 L 205.2 748 1304 55.5 27.7 271 F 1497 47.1 1026 76.7 Is? 550 A 730 26.4 446 Facilities Services 92.S 713 212 223 20.1 22 70.2 512 190 34.7 16.9 15.6 0 355 323 32 lee 16.9 (0.3) 18.9 154 35 Outsource & Other (545) 1.s (563) (287) 1.9 (30.6) H (258) (0.1) (257) (14.1) 5.2 (19.3) H (11.7) (5.3) (6.4) (108) (7.8) (2.s) (1.1) 25 (36) EES Intl 23.1 20.9 22 (43.9) 20.9 (64.5) M 67.0 - 87.0 31.1 - 31.1 1 359 - 35.9 25.1 - 251 8 10.6 - 10.8 Investment Earnings 24.1 (24.4) 194 (194) N - 5.0 (50) - - - 5.0 (5.0) 3.0 (36) - 1.2 (1.2) Total Gross margin 566.8 255.8 331.0 213.8 120.3 93.5 373.0 135.5 237.5 150.5 57.3 932 222.5 78.2 144.3 120.1 33.5 86.6 1024 44.7 57.7 Opera" expenses (4040) (3025) (1015) (63.2) (101.9) 211 0 (320.5) (197.8) (123.2) (126.1) (71.7) (56.4) J (192.7) (125.9) (66.8) (88.5) (56.6) (39.9) C (96.2) (693) (269) Deprec & amort (37.8) (289) (8.7) (10.3) (95) (0.8) (27.3) (19.4) (7.9) (9.3) (93) - (18.0) (10.1) (7.9) (8.9) (39) (50) (91) (62) (29) Taxes, other (28.0) (5.e) (230) (17.3) (10) (16.3) (11.3) (4.6) (6.7) (66) (1.3) (53) (47) (3.3) (14) (21) (2.9) 0.8 /2 6) (0.4) (22) Equity in Unconsol. Affiliates (598) - (598) (27.9) - (27.9) P (31.9) (319) (14.6) (14.9) (17.1) - (17.1) (190) (190) 19 - 1 s Gain on sale of Resco warrants 74.3 743 - - 74.3 - 74.3 29.3 - 293 K 450 - 15.0 25.0 - 250 200 - 200 Other income. net (264) 0.9 (37.3) (42.1) 24 (44.5) Q 13.7 8.5 7.2 9.1 5.7 3.4 4.6 01 3.8 (15.3) 1.1 (16.4) D 191 (03) 202 IBIT before Min. Int. 102.7 (72.3) 175.0 33.0 73 257 69.7 (79.6) 149.3 30.1 (19.3) 494 39.6 (60.3) 99.9 3.3 (28.0) 321 363 (31.5) 67.6 Minority Interest in Omnicron - - - - 0 6 (00) - (06) 0.6 - 0.7 (07) - (13) 1 3 Minority Interest in EES - 5.4 (54) - - - 54 (5.4) (0.3) 13 (1.6) 03 4.1 (38) 0.1 2.0 (1.9) 0 2 2.1 (1.9) Total recxmng IBIT 102.7 (669) 1696 33.0 7 3 25.7 69.7 (742) 143.9 29.8 (18.0) 17.8 39.9 (561) 96.7 34 (26.1) 295 38.5 (307) 672 Nonreaninp items (pretax) SAB 51 gain on sale of TNPC stock 1215 - 1215 1215 - 1215 - - - - - - Write-oft EES costs (590) (590) (59.0) (590) Nonrecurring hems 62.5 62.5 62.5 62.5 Total IBIT 165.2 (669) 232.1 95.5 73 88.2 68.7 (74.2) 143.9 29.8 (18.0) 47.8 399 (56.8) 98.7 34 (25.1) 295 36.5 (307) 57.2 Interest Expense ------------ Int on 3rd party debt 1.7 - 1 7 (1.2) - (1.2) 2.9 2 9 1.7 - 1 7 1.2 - 1 2 1.3 - 1 3 (01) (01) Other trade interest - 3 5 (35) - (2.5) 2.5 s.0 (6.0) - 1.5 (1.5) - 4.5 (45) 2 6 (20) - 19 (19) Capitalized interest (03) 0 3 (03) 03 0.1 04 (04) (04) (03) (0.3) (0.1) (01) Int exp-trade 1.7 32 (15) (1.2) (28) 1.6 29 60 (3.1) 2.1 1.5 06 08 45 (3.7) 10 26 (16) (02) 19 (21) Interco interest (incVexp 320 32.0 10.0 100 22.0 22.0 169 169 5.1 51 5.1 5 1 33.7 3.2 305 8.8 (28) 11.6 249 s.0 18.9 19.0 1.5 17.5 5.9 45 14 61 26 3.5 (0.2) 19 (2.1) EC 002893148 .23 EXH066-00359 ============= Page 25 of 45 ============= 0 0 9 A Mark to Market (Gas and Power) gross margin Increased $57.7 minion due to recognizing MTM income on deals dosed approximately $76.4 million. 8 EES International was not a segment in 1989. C General and administrative expenses increased S16 million as a result of increased business operations. S6 million for IT/outsouorg. SO million for incentive pay accruals and $11 million for inclusion of EES international. D Monetization of EMW warrants resulted in a $25.0 min dollar gain. This was partially offset by the net equity loss in the earnings of the New Power Company which approximated $16 million. E Gas and Power Gross Margin increased by $33 million due to an Increased business level In 2000 as compared to 1999. New business on contracts purchased in the PG&E Energy Services acquisition was a significant component of the increase. Additionally, an increase in the index price for the top major gas markets resulted in a significant price variance. F Mark to Market (Gas and Power) gross margin increased S27 min, due to recognizing MTM income on third quarter deals dosed approximating $55 million. Significant components were the following transactions: $8.2 million from Tyco, $6.2 million from American National Can. $8.2 million from Maceric h, $4.9 from Sta wood. $3.0 from General Growth. $6.7 from miscellaneous bundled sales, $5.5 for commodity deals. $11.7 for ful menL and $2.6 net hedge management. The third quarter '99 MTM margin was due to the recognition of power gains from the Competitive Transition Coat (CTC) roll-off in California. G Facility Services gross margin increased $17 million due to the acquistn of PBM and strong activity in the Det oit. Boston. Orlando location. Generally. the third quarter is the strongest quasar due to ft summer activity. Project activity in is service division was exceptional ad construction, activity picked up as backlog is al n all firm high. Margins. as a percentage of revenues, actually actually decreased as a result of several charges taken on cunnt projects. H EES has wont to expand its aslomer bass for total energy management deals which deliver energy management services directly 1o commercial and industrial customers. A significant percentage of these additional contracts have required initial capital spending which will result in Mice consumption savings as the business matures. I International power and gas margin was approximately 931 nation in 2000. EES International was not a segment in the second quarter of 1999. J Business Support and general and administrative expense Increased approximately $52 minion. The major components of tits Increase Include: IT and other outsourcing fees of approximately $6.0 minion, restricted stock accrual of 92 mion, rlonquaiMd stock plan of $1.3 mion, phantom stock accrual of $4 million, and the lnduslon of EES international which Incurred expenses of approximately $9 minion. The remaining increase of 930 m ilan is a result of increased business operations. K Investment Earnings increased $30 minion. due to EES's monetization of EMW Energy Services tries. warrants to a third party. L Mark to Market (Gas end Power) gross margin increased $199 million. due to recognizing MTM income n fourth quarter deals dosed approximating $271 million. Significant components were the following transaction: $616 million from Et LOy. $685 million from Pikington. $164 min from General Growth Homed. $139 minion tom miscellaneous bundled sales, $1,330 million for commodity deals, $27 million for Fulfillment. $1,690 million for international and 543 minion not hedge management. M International power and gas margin was approximately (She) million in 40. EES international was not a segment In the fourth quarter of 1999. 4000 reflects the Teeside Companies (44G, 44H) being re-pointed to red into North America retroactive bad to the beginning of the year. N IRS o149% min ority kterest in the Artemis companies. O Business Support and general and administrative expense increased approximately $100 minon. The major components of this increase Induce: IT project cost w rile-off of approximately $17 6 million. IT and other o tsouci g fees of approximately $6 motion. sales tax reserve of S20 minion, restricted stock accrual of $1.1 million, the inclusion of EES International which incurred expenses of approximately $15.4 minion and the Inclusion of OEC which incurred expenses of approximately S.3 million. The remaining increase of $37.6 minion is a result of increased business operations. P The equity loss in the earnings of the New Power Company approximated $20 million for 4000. The equity earnings of ETOL wan retroactively ndrected to North America for all of 2000. This transaction occurred In 4000: adjustmem reflects VTO earnings which wen previously included. O Other Income. net decreased S44 minion In 4000 as compared to the fourth quarter of '99. The major components of this decrease include: $17.6 million of write-off costs for IT projecsisoftware. $11.5 minion for A/R reserves (writing off uhatectibla accounts v160 days and setting up reserves for pass-trough accounts, $5 minion reserve for bankruptcy filing of LTV and S 2 million for writing off obsolete metes. EC 002893149 .21 EXH066-00360 ============= Page 26 of 45 ============= Enron Corp Enron Broadband Services (EBS) Detailed Variation Analysis 4th Quarter Year Ended Doe 31 Fourth Quarter 9 mo Ended Se pt 30 Third Quarter 8 Mo Ended June 30 Second Quarter First Quarter 2000 1999 Incr Decr) 2000 1999 Ina (Dea) 2000 1999 incr (Deer) 2000 1999 Ina (Dea) 2000 1999 Ina (Decr) 2000 1999 Ina (Deter) 2000 1999 Ina (Deer) IBIT Gross revenues Dark fiber sales 200.2 - 200.2 26.5 - 26.5 173.7 - 173.7 (28.3) - (26.3) G 200.0 - 200.0 152.5 152.5 47.5 - 47.5 Software sales 10.0 - 10.0 - - 10.0 10.0 10.0 - 10.0 - - - - _ Merchant Investments 156.1 - 156.1 (1.0) - (1.0) 157.1 - 157.1 157.1 - 157.1 C Content Services 55.0 - 55 0 54.3 - 54.3 0.7 - 0.7 0.7 - 0.7 - - - - - - - Contract Origination 4.8 - 4.8 2.2 - 2.2 2.6 - 2.6 2.8 - 2.6 - - - - - Other (18.0) (18.0) (19.4) (19.4) 1.4 1.4 (8.2) (8.2) 9.6 9.6 (2.0) (2.0) 11.6 11.6 Total Gross revenues 408.1 408.1 62.6 62.6 345.5 345.5 135.9 135.9 209.8 209 8 150 5 150 5 59 1 59 1 . . . . . Cost of sales Dark fiber sales (47.9) - (47.9) 2.6 - 2.6 (50.5) - (50.5) 27.7 - 27.7 G (78.2) - (70.4) - (70.4) (7.8) - (7.0) Sollware sales Merchant Investments Content Services (7.3) - (7.3) (2.1) - (2.1) (5.2) - (5.2) (5.2) - (5.2) - - - - - - - Contract Originations (0.8) - (0.8) (0.8) - (0.8) Other (33.7) (33.7) (25.2) (25.2) (8.5) (8.5) (4.3) (4.3) (4.2) (4.2) (4.2) (4.2) Total cost of sales (99.7) (89.7) (25.5) - (25.5) (64.2) - (64.2) 18.2 - 18.2 (82.4) - (82.4) (74.6) - (74.6) (7.8) - (7.6) Gross margin Dark fiber sties 152.3 152.3 A 29.1 - 29.1 123.2 - 123.2 1.4 - 1.4 A 121.8 - 121.8 82.1 - 82.1 A 39.7 - 39.7 A Software sales 10.0 - 10.0 B - - - 10.0 - 10.0 10.0 - 10.0 B - - - - - - - _ - Merchant Invesbnents 156.1 - 156.1 C (1.0) - (1.0) 157.1 157.1 157.1 - 157.1 C Content Services 47.7 - 47.7 H 52.2 - 52.2 (4.5) - (4.5) (4.5) - (4.5) Contract Originations 4.0 - 4.0 1.4 - 1.4 2.6 2.6 2.6 - 2.6 - - - - - - - - - Other (51.7) (51.7) 1 (44.6) - (44.6) (7.1) (7.1) (12.5) (12.5) D 5.4 5.4 (8.2) (6.2) 11.6 11.6 Total Gross margin 318.4 318.4 37.1 37.1 281.3 281.3 154.1 154.1 127.2 227.2 75 9 75 9 51 3 51 3 . . . . Operating expenses (291.0) - (291.0) E (50.5) - (50.5) (240.5) - (240.5) (119.2) - (119.2) E (121.3) - (121.3) (74.3) - (74.3) E (47.0) - (47.0) E Deprecaamort (77.3) - (77.3) F (14.1) - (14.1) (63.2) - (63.2) (52.0) - (52.0) F (11.2) - (11.2) (8.3) - (9.3) (2.9) - (2.9) Taxes, other (14.0) (14.0) (5.4) - (5.4) (8.6) - (8.6) (4.0) - (4.0) (4.6) - (4.6) (2.6) - (2.6) (2.0) - (20) Other Income. net 3.9 - 3.9 1.2 1.2 2.7 2.7 1.1 1.1 1.6 1.6 1.3 1.3 0.3 0.3 IBIT (60.0) - (600) (31.7) - (31.7) (28.3) - (28.3) (20.0) - (20.0) (8.3) - (8.3) (8.0) - (8.0) (0.3) (0.3) Interest Expense Inl on 3rd party debt Other trade interest 0.8 - 0.8 0.6 - 0.6 0.2 - 0.2 0.1 - 0.1 0.1 - 0.1 0.1 - 0.1 Capitalized Interest (24.0) (24.0) (24.0) (24.0) Intexp-trade (23.2) (23.2) (23.4) - (23.4) 0.2 - 0.2 0.1 - 0.1 0.1 - 0.1 0.1 - 0.1 - _ - Interco Interest Qnc)lexp 33.1 33.1 13.0 13.0 20.1 20.1 11.0 11.0 9.1 9.1 6.1 6.1 3.0 3.0 9.9 9.9 (10.4) - (10.4) 20.3 20.3 11.1 11.1 9.2 9.2 6.2 6.2 3.0 3.0 A Fiber add from Soft Lake City to New Orleans. B Software sales Include i10.0mm to Inkloml In 2000. C Merchant investments include $158.7mm MTM for Avid In 03'00. D Other Includes 64.2mm of Level 3 COGS and 61.6mm for W Whams Liquidated Damages. E Higher operating expenses due primarily to Increase in headcount. Operating expenses have been reduced In 4000 by 658mm capitalized to projects. F Depredation and Amortization increase Is due to catch up for assets not previously dosed to plant (638mm). G Revenues & COGS Include adjustments to transactions recorded In 02 & 03'00. H Content Services Includes 653mm Blockbuster deal. I Other Includes a $13mm provision for writedown of network assets, 69mm of Level 3 COGS, 62mm for Williams Liquidated Damages, a 63mm year end circuit costs accrual and 624mm MTM writedowns. EC 002893150 15 EXH066-00361 ============= Page 27 of 45 ============= Corporate Staff and Service Group Analysis Corporate Staff & Services Groups - Costs Retained (In thousands of donate. except headcount) Fourth Quarter Total Year 2000 1999 Change 2000 1999 Change Executive (16.8) (6.4) (10.4) (36.6) (19.2) (17.4) Legal (1.2) (1.7) 0.5 (6.8) (6.5) (0.3) Risk Assessment & Controls (0.5) (1.8) 1.3 (1.7) (1.9) 0.2 Accounting - credit in 40 1999 caused by timing of SAP allocatiions, (4.7) 4.2 (8.9) (44.6) (15.8) (28.8) total year 2000 includes $9mm for strategic sourcing Investor Relations (0.6) (0.5) (0.1) (2.9) (2.1) (0.8) Government Affairs (7.0) (2.4) (4.6) (10.2) (2.6) (7.6) Public Affairs (4.8) (7.1) 2.3 (25.5) (13.2) (12.3) Property Services & Aviation -timing of allocations (2.5) 2.7 (5.2) (3.0) (0.9) (2.1) Corporate Development (0.1) (3.1) 3.0 (2.5) (7.3) 4.8 Human Resources (7.1) (11.9) 4.8 (6.7) (14.7) 8.0 Community Relations (4.3) (3.0) (1.3) (12.1) (3.0) (9.1) Benefit Plans - 2000 includes $19.3mm for restricted stock plan, (39.8) 5.0 (44.8) (53.9) (21.9) (32.0) 1999 reflects timing of allocations Amortizations (30.6) (21.6) (9.0) (68.2) (59.6) (8.6) IT costs 1.6 (5.0) 6.6 (20.9) (4.2) (16.7) Other (28.4) 22.0 (50.4) (48.0) 48.0 (96.0) Total Corporate costs retained (146.8) (30.6) (116.2) (343.6) (124.9 (218.7) N Azurix (28.0) (20.0) (8.0) (69.0) 23.0 (92.0) Structured Transactions 32.1 12.8 19.3 86.7 34.4 52.3 EREC 26.5 15.4 11.1 55.7 59.4 (3.7) Clean Fuels (14.4) (5.1) (9.3) (14.8) (27.9) 13.1 Resco - 31.5 (31.5) - 24.3 (24.3) Enron Investment Partners (3.1) (2.7) (0.4) (3.6) (5.0) 1.4 Recurring IBIT (133.7) 1.3 (135.0) (288.6) (16.7) (271.9) Non-recurring Azurix Impairment (326.0) - (326.0) (326.0) - (326.0) EOG Sale - - 454.0 (454.0) MTBE Impairment - - - - (441.0) 441.0 Total Corporate & Other (459.7) 1.3 (461.0) (614.6) (3.7) (610.9) U21/01 4:47 PM 0Vdpa %WGFYACOnPNPTGNWw02000jw i , RW4w 4CepM% d.ML II)4 or(2) 0 EC 002893151 EXH066-00362 ============= Page 28 of 45 ============= ENRON CORP CALCULATION OF EARNINGS PER SHARE Numerator: Basic Income before cumulative effect of accounting changes Preferred stock dividends: Second Preferred Stock Series B Convertible Pref. Stock income available to common shareholders before cumulative effect of accounting changes Cumulative effect of accounting changes Income available to common shareholders Diluted Income available to common shareholders Effect of assumed conversion of dilutive securities: Second Preferred Stock (a) Series B Convertible Pref. Stock (a) Income before cumulative effect of accounting changes Cumulative effect of accounting changes Income available to common shareholders after assumed conversions 3 - months ended December 31, 2000 1999 12 - months ended December 31, 2000 1999 S 60.0 S 259.0 S 979.0 S 1,024.0 (4.2) (4.4) (17.3) (17.9) (16.6) (16.6) (66.1) (49.0) 39.2 238.0 895.6 957.1 - S (131.0) S 39.2 S 238.0 $ 895.6 S 826.1 S 39.2 S 238.0 S 895.6 S 957.1 - 17.3 17.9 39.2 238.0 912.9 975.0 (131.0) S 39.2 S 238.0 S 912.9 S 844.0 Denominator: Denominator for basic earnings per share - weighted-average shares Effect of assumed conversion of dilutive securities: Preferred stock (a) Stock options Dilutive potential common shares Denominator for diluted earnings per share - adjusted weighted-average shares and assumed conversions Basic earnings per share: Before cumulative effect of accounting changes Cumulative effect of accounting changes Basic earnings per share Diluted earnings per share is 747.8 715.3 - 35.5 39.9 27.1 39.9 62.6 787.7 777.9 736.2 705.3 34.7 L" - 7 43.0 27.4 77.7 63.1 813.9 768.4 S 0.05 $ 0.33 S - $ - 5 0.05 $ 0.33 $ 1.22 $ 1.36 S - S (0.)9) S 1.22 S 1.17 Before cumulative effect of accounting changes S 0.05 S 0.31 S 1.12 S 1.27 Cumulative effect of accounting changes S - $ - S - S (0.17) Diluted earnings per share S 0.05 S 0.31 S 1.12 $ 1.10 (a) The Second Preferred Stock and the Series B Convertible Preferred Stock arc dilutive in the first three quarters of 2000 and antidilutive in the fourth quarter. The Second preferred stock is dilutive for year-to-date 2000, while the Series B Convertible Preferred Stock is antidilutive for the same period. The calculation of diluted earnings per share for the fourth quarter of 2000 was calculated by dividing earnings available to common of $39.2 (net income of $60.0 less second preferred dividends of 54.2 and series B preferred dividends of S 16.6) by the average shares outstanding for diluted computation of 787.7 (average shares used for basic computation of 747.8 plus employee options outstanding of 90.9 less shares repurchased of 41.1 and shares repurchased from tax benefit of exercised options of 9.9). Since the second preferred stock and the series B preferred stock are both antidilutive in the fourth quarter of 2000, they are not included in the calculation of the denominator. The calculation of diluted earnings per share for the year-to-date 2000 was calculated by dividing adjusted earnings of 5912.9 (net income of $979.0 less second preferred dividends of 517.3 and series B preferred dividends of $66.1 plus the second preferred stock dividends of S17.3) by the average shares outstanding for diluted computation of 813.9 (average shares used for basic computation of 736.2 plus employee options outstanding of %.8 less shares repurchased of 43.2 and shares repurchased from tax benefit of exercised options of 10.7 plus the dilutive effect of the second preferred stock of 34.7). Since the second preferred stock is dilutive for the year-to-date calculation of EPS, the dividends are included in the numerator and the dilutive effect of the shares are included in the denominator. The series B preferred stock is antidilutive for the year-to-date and is not included in the denominator. EC 002893152 EXH066-00363 ============= Page 29 of 45 ============= •Co. r pInterest Expense IMAM of Dollars) Interest on third party debt Co 99 only Interest on long-term debt Interest on short-term debt Other interest Interest rate swaps Corp & IVEST4E (excluding Co 99) Elms (ENRON4) ECM (Corp) EREC Clean Fuels EOG ETS-NNGITW PGG Wholesale: North America WHOLE4E Enron - Europe CALME APACHI South America San Juan India EGM(Globel Markets) El Regions ECM (Wholesale) EENCC EGEP EBS EES Total 3rd Party Capitalized Interest EOG GPG PGG North America EGM(Global Markets) CALME APACHI ESA India El HO El Regions EBS EES CORP EREC Clean Fuels Total Capitalized Interest Amort of debt discount Discount on assigned receivables Total Intercompany Interest Total Interest Expense 1999 Actuals 2000 Actual* 4th Qtr YM 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year tat Qtr 2nd Otr 3rd Qtr 4th Qtr Year Variance Variance 79.5 00.4 99.0 91.8 350.7 11.9 13.1 - - 25.0 2.0 2.7 0.9 2.5 6.1 (3.0) (3.2) (4.5) 10.0 (0.7) 90.4 93.0 95.4 104.3 353.1 1.2 3.8 16.4 23.0 45.2 10.41 10.5) 10.7) 16.11 (7.7) 0.6 0.3 0.3 0.5 1.7 0.1 - 0.1 17.3 17.9 9.6 44.8 13.4 13.7 13.0 12.1 52.2 10.2 15.5 10.7 19.6 70.0 (0.4) 0.8 4.5 (4.7) 0.2 10.2 (2.0) 6.5 2.3 17.0 29.4 34.4 30.9 (21.0) 90.9 (1) 5.1 5.1 0.5 (0.5) - 39.2 33.2 50.7 (19.9) 103.2 1.1 2.0 (3.7) 2.8 2.8 1.9 2.7 1.6 (2.7) 3.5 162.5 102.2 1964 134.4 098.5 (3.2) (3.1) (1.8) (7.0) (0.7) (0.3) (0.2) /0.4) (1.s) (0.4) 10.41 (0.4) (0.5) (1.7) (3.2) (6.2) (6.3) (7.2) (22.9) (1.0) (0.7) (4.6) (1.0) (7.3) (7.2) (7.2) • - (0.2) (0.1) (0.3) (4.4) (4.3) (3.2) 0.4 (11.5) (0.2) (0.31 (0.21 (0.2) (0.9) 113.111 (15.31 "1 (11 -W-9 1.5 2.6 4.2 2.8 11.1 3.3 5.7 0.5 (1.8) 7.9 00 174.6 175.2 187.5 119.4 656.7 1174.1 175.2 Is .5 119.3 (1) 1999 4th qtr decrease due to the restruduiing of Elektro Debt. (2) Otr decrease due to Ers trade interest expense being reported by regions in 2000 Intexp 4gOO. interest 100.5 101.7 99.9 125.2 427.3 1.9 1.1 (2.8) 6.1 6.3 0.1 2.3 (2.4) - 6.5 15.6 7.6 (4.0) 25.7 109.0 120.7 102.3 127.3 459.3 25.2 13.8 (1.2) (11.8) 28.0 14.3 (18.2) (4.8) (0.4) 28.7 62.3 70.3 161.9 0.6 1.5 0.9 2.1 5.2 (0.2) (0.1) (0.3) 10.5 9.6 9.5 9.5 39.4 17.6 16.2 16.4 16.0 72.4 0.3 8.1 14.8 21.2 (3.2) - (3.2) 4.7 (1.1) 14.0 22.6 40.2 0.5 (0.3) 0.2 2.0 2.4 0.7 2.2 4.6 4.1 11.6 11.51 (3.1) 9.8 3.6 4.9 0.2 0.2 0.3 - 0.7 • 0.1 1.9 1.3 3.3 0.1 5.7 5.8 2.2 4.2 4.2 6.9 17.5 0.3 0.3 7.1 2.2 i.0 11.3 104.6 0.1 0.1 0.6 04 (0.1) 1.3 5.4 (1.3) 5.3 189.9 197.4 245.7 256.7 669.7 (0.1) (0.1) (0.3) (0.2) (0.7) (0.6) (0.8) (1.0) (1.0) (3.4) (6.2) (7.3) 0.1 0.6 (14.8) (0.3) (0.3) - - (1.5) (0.4) (1.8) (1.4) (0.61 (1.0) (3.0) (2.1) 1.4 (0.3) (1.0) (0.3) (0.4) (1.6) - (2.3) (0.7) 0.9 0.2 0.4 (0.1) (2.2) (0.41 (25.6) (25.6) (0.3) 0.4 - (1.5) - (1.0) (4.7) (0.1) 0.2 3.7 4.7 4.4 6.5 19.3 6.5 4.9- 161.3 195.5 247.4 234.0 838.2 1611.3 1196.5 N7.0 2U.0 837.r 33.4 76.0 8.1 (10.7) (2.6) (8.1) (14.0) 26.4 23.0 76.2 135.61 (19.2) (19.2) (4.9) 76.4 169.6 1.6 3.5 (0.1) (0.4) (44.6) (2.8) (12.6) (1.6) 2.4 19.0 21.0 13.2) 20.3 23.2 2.0 2.4 4.1 11.6 3.6 4.8 0.7 1.3 3.3 5.7 6.8 21.0 (2) (80.9) 1.9 12.4 0.6 - 11.2 1.1 (2.2) 12.0) 1.1 1.8 122.0 170.6 0.2 (0.6) 7.8 (0.4) (1.0) (0.3) 1.0 (18.41 0.1 (1.4) 0.2 7.0 0.9 (1.7) 6.1 (1.9) (3.0) (1.0) (2.3) 0.4 7.3 (16.4) 0.3 6.8 0.9 4.2 3.7 1.6 114.6 8.2 (7.9) 8.5 181.5 EC 002893153 1/21/2001. 4 54 PM EXHO66-00364 ============= Page 30 of 45 ============= 9 10 0 Enron Corp. Dividends on Preferred of Subs (Millions of Dollars) IVEST: Enron Capital Trust I (1P1) - TONS Enron Capital Trust 11 (964) - TOPrS Enron Capital Trust III (970) - ACTs Enron Capital LLC (579) - MIPS Enron Capital Resources LP (655) - MIPS Organizational Partner, Inc (604) PGE EEC (445) EGBLM(Global Markets) Rounding entry Total Dividends on Pref of Subs 1st Qtr 2nd Qtr 1999 Actuals 3rd Qtr 4th Qtr Year 4.1 4.2 4.2 4.1 16.6 3.0 3.1 3.0 3.1 12.2 2.7 2.6 2.7 2.8 10.8 4.3 4.2 4.3 4.3 17.1 1.7 1.7 1.7 1.7 6.8 0.4 0.4 0.4 0.4 1.6 16.2 16.2 1 6.3 16.4 65.1 0.6 0.6 0.5 0.6 2.3 2.2 2.1 2.2 2.1 8.6 19.0 18.9 19.0 19.1 76.0 19.0 18.9 19.0 19.1 76.0 2000 Actuals 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 4.2 4.1 4.1 4.2 16.6 3.0 3.0 3.1 3.0 12.1 3.2 3.3 - - 6.5 4.3 4.2 4.3 4.3 17.1 1.7 1.7 1.7 1.7 6.8 0.4 0.4 0.4 0.4 1.6 .16.8 16.7 13.6 13.6 60.7 0.6 0.6 0.5 0.6 2.3 - 2.1 4.4 2.1 8.6 - 2.4 1.2 1.9 5.5 0.7 (0.7) - (0.1) (0.1) 18. 21.1 19.1 18.1 77.0 18.1 21.1 20.4 18.1 :.. . 772.7- EC 002893154 Intexp 4g00, div on pref .79 1/21/2001, 5:04 PM EXH066-00365 ============= Page 31 of 45 ============= ENRON CORP. Table 1 - Earnings Summary (Unaudited: in millions, except per share data) Revenues Quarter Ended Year Ended December 31, December 31, 2000 1999 2000 1999 Transportation and Distribution: Transportation Services $ 198 $ 181 $ 699 $ 653 Portland General ti... 699 377 2,256 1,379 Wholesale Services 39,213 9,936 94,906 36,287 Retail Energy Services 1,657 555 4,615 1,807 Broadband Services 63 - 408 - Exploration and Production (a) - - - 526 Corporate and Other (including intercompany eliminations) (1,079) (76) (2,095) (540) Total Revenues $ 40,751 $ 10,973 $ 100,789 $ 40,112 After tax results Net income excluding nonrecurring items $ 347 $ 259 $ 1,266 $ 957 Non-recurring items: O Charge to reflect impairment by Azurix (326) - (326) - AM Gain on The New Power Company, net 39 - 39 - Gain on sale of EOG stock - - - 345 Charge to reflect impairment of MTBE asset - - - (278) Cumulative effect of accounting changes - - - (131) Net income $ 60 $ 259 $ 979 $ 893 Earnings per share (diluted) (b)(c) EPS (diluted) excluding nonrecurring items Non-recurring items: Charge to reflect impairment by Azurix Gain on The New Power Company, net Gain on sale of EOG stock Charge to reflect impairment of MTBE asset Cumulative effect of accounting changes EPS (diluted) $ 0.41 $ 0.31 $ 1.47 $ 1.18 (0.41) - (0.40) - 0.05 - 0.05 - - - - 0.45 (0.36) (0.17) $ 0.05 $ 0.31 $ 1.12 $ 1.10 Average shares outstanding (diluted) (b)(c) 787.7 779.1 813.9 769.0 (a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction. (b) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split 0 effective August 13, 1999. (c) The Second Preferred Stock and the Series B Preferred Stock are assumed to be converted in periods where they are dilutive. EC 002893155 EXH066-00366 ============= Page 32 of 45 ============= Fourth Quarter 2000 ENRON CORP. Table 2a - Results by Segment (Unaudited: in millions, except per share amounts) Non- Recurring Recurring Total IBIT: Transportation and Distribution: Transportation Services $ 103 $ - $ 103 Portland General 100 - 100 Wholesale Services 777 - 777 Retail Energy Services 33 62 95 Broadband Services (32) - (32) Corporate and Other (134) (326) (460) IBIT 847 (264) 583 Interest and Related Charges, net 234 - 234 Dividends on Preferred Securities of Subsidiaries 18 - 18 Minority Interests 45 - 45 Income Tax Expense 203 23 226 Net Income 347 (287) 60 Preferred Dividends (a): Second Preferred Stock 4 - 4 Series B Preferred Stock 17 - 17 Earnings on Common Stock $ 326 $ (287) $ 39 Average Number of Shares Used: Basic 747.8 Diluted (a) 787.7 787.7 787.7 Earnings per Common Share: Basic $ 0.05 Diluted $ 0.41 $ (0.36) $ 0.05 (a) The Second Preferred Stock and the Series B Preferred Stock are both antidilutive in the fourth quarter of 2000 and therefore have been excluded from the calculation of diluted earnings per share. 0 EC 002893156 EXH066-00367 ============= Page 33 of 45 ============= 0 Fourth Quarter 1999 ENRON CORP. Table 2b - Results by Segment (Unaudited: in millions, except per share amounts) IBIT: Transportation and Distribution: Transportation Services Portland General Wholesale Services Retail Energy Services Broadband Services Corporate and Other WIT Interest and Related Charges, net Dividends on Preferred Securities of Subsidiaries Minority Interests Income Tax Expense Net Income Before Cumulative Accounting Changes Cumulative Effect of Accounting Changes, net of tax Net Income Preferred Dividends: Second Preferred Stock Series B Preferred Stock (a) Earnings on Common Stock Average Number of Shares Used: Basic Diluted Earnings per Common Share: Basic Diluted Non- Recurring Recurring Total $ 97 $ - $ 97 105 - 105 263 - 263 7 - 7 1 - 1 473 - 473 119 - 119 19 - 19 41 - c-41 35 - 35 259 - 259 259 - 259 4 - 4 20 - 20 235 $ - $ 235 715.3 779.1 779.1 779.1 $ 0.33 $ 0.31 $ - $ 0.31 (a) The Series B Preferred Stock is antidilutive in the fourth quarter of 1999 and therefore has been excluded from the calculation of diluted earnings per share. EC 002893157 M EXH066-00368 ============= Page 34 of 45 ============= 0 0 2000 Year ENRON CORP. Table 2c - Results by Segment (Unaudited: in millions, except per share amounts) [BIT: Transportation and Distribution: Transportation Services Portland General Wholesale Services Retail Energy Services Broadband Services Corporate and Other IBIT Interest and Related Charges, net Dividends on Preferred Securities of Subsidiaries Minority Interests Income Tax Expense Net Income (Loss) Preferred Dividends (a): Second Preferred Stock Series B Preferred Stock Earnings (Loss) on Common Stock Average Number of Shares Used: Basic Diluted (a) Earnings (Loss) per Common Share: Basic Diluted Non- Recurring Recurring Total $ 391 $ - $ 391 341 - 341 2,260 - 2,260 103 62 165 (60) - (60) (289) (326) (615) 2,746 (264) 2,482 838 - 838 77 - 77 154 - 154 411 23 434 1,266 (287) 979 17 - 17 66 - 66 $ 1,183 $ (287) $ 896 736.2 813.9 813.9 813.9 $ 1.22 $ 1.47 $ (0.35) $ 1.12 (a) The Series B Preferred Stock is antidilutive in 2000 and therefore has been excluded from the calculation of diluted earnings per share. EC 002893158 m EXH066-00369 ============= Page 35 of 45 ============= 1999 Year ENRON CORP. Table 2d - Results by Segment (Unaudited: in millions, except per share amounts) 0 IBIT: Transportation and Distribution: Transportation Services Portland General Wholesale Services Retail Energy Services Broadband Services Exploration and Production (a) Corporate and Other IBIT Interest and Related Charges, net Dividends on Preferred Securities of Subsidiaries Minority Interests Income Tax Expense Net Income Before Cumulative Accounting Changes Cumulative Effect of Accounting Changes, net of tax Net Income (Loss) Preferred Dividends: Second Preferred Stock Series A and Series B Preferred Stock (b) Earnings (Loss) on Common Stock Average Number of Shares Used (c): Basic Diluted Earnings (Loss) per Common Share (c): Basic Diluted (a) Reflects results of Enron Oil & Gas through August 16, 1999, date of share exchange transaction. (b) The Series A and Series B Preferred Stock are antidilutive in 1999 and therefore have been excluded from the calculation of diluted earnings per share. (c) Shares outstanding and EPS amounts have been restated to reflect the two-for-one common stock split effective August 13, 1999. Non- Recurring Recurring Total $ 380 $ - $ 380 305 - 305 1,317 - 1,317 (68) - (68) 65 - 65 (17) 13 (4) 1,982 13 1,995 656 - 656 76 - 76 135 - 135 158 (54) 104 957 67 1,024 - (131) (131) 957 (64) 893 17 - 17 49 - 49 891 $ (64) $ 827 705.3 769.0 769.0 769.0 $ 1.17 1.18 $ (0.08) $ 1.10 EC 002893159 EXH066-00370 ============= Page 36 of 45 ============= ENRON CORP. Table 3a - Business Highlights (Unaudited) Quarter Ended Year Ended December 31, December 31, 2000 1999 2000 1999 Transportation Services (In Millions) Net Revenues $ 182 $ 176 $ 650 $ 626 Operating Expenses 76 74 280 264 Depreciation and Amortization 18 14 67 66 Equity in Earnings 18 8 63 38 Other Income, net t (3) 1 25 46 IBIT $ 103 $ 97 $ 391 $ 380 Total Volumes Transported (BBtu/d) (a) Northern Natural Gas 3,728 3,738 3,529 3,820 Transwestem Pipeline 1,715 1,460 1,657 1,462 Florida Gas Transmission 1,270 1,538 1,501 1,495 Northern Border Pipeline 2,460 2,406 2,443 2,405 Portland General (In Millions) Revenues $ 699 $ 377 $ 2,256 $ 1,379 Purchased Power and Fuel 485 179 1,461 639 Operating Expenses 82 81 321 304 Depreciation and Amortization 59 44 211 181 Other Income, net 27 32 78 50 IBIT $ 100 $ 105 S 341 $ 305 Retail Customers (end of period, thousands) 725 719 725 719 Electricity Sales (Thousand MWh) Residential 2,148 2,004 7,433 7,404 Commercial 1,922 1,879 7,527 7,392 Industrial 1,259 1,198 4,912 4,463 Total Retail 5,329 5,081 19,872 19,259 Wholesale 3,655 3,300 18,548 12,612 Total Sales 8,984 8,381 38,420 31,871 (a) Reflects 100% of each entity's throughput volumes. 0 EC 002893160 EXH066-00371 ============= Page 37 of 45 ============= ENRON CORP. Table 3b - Business Highlights (Unaudited) Wholesale Services (In Millions) Commodity Sales and Services Assets and Investments Unallocated Expenses IBIT Commodity Sales and Services Physical Volumes (BBtue/d) (a) Gas: United States Canada Europe and Other Transport Volumes Total Gas Volumes Crude Oil and Liquids Electricity (b) Total Physical Volumes (BBtue/d) (a) Electricity Volumes (Thousand MWh) United States Europe and Other Total Financial Settlements (Notional)(BBtue/d) Retail Energy Services Revenues (in millions) IBIT - recurring (in millions) Total Contract Value (in billions)(c) Broadband Services Quarter Ended Year Ended December 31, December 31, 2000 1999 2000 1999 $ 538 $ 151 $ 1,630 628 309 149 889 850 (70) (37) (259) (161) $ 777 $ 263 $ 2,260 $ 1,317 21,417 6,993 4,866 33,276 925 34,201 7,406 23,068 64,675 188,832 23,389 212,221 10,219 4,406 1,630 16,255 693 16,948 6,824 10,306 34,078 88,254 6,564 94,818 109,872 17,674 6,359 3,637 27,670 649 28,319 6,088 17,308 51,715 578,787 54,670 633,457 8,982 4,398 1,572 14,952 575 15,527 6,160 10,742 32,429 276,865 $ 1,657 $ 33 $ 4.5 $ 196,148 380,518 11,576 392,094 99,337 555 $ 4,615 ' $ 1,807 7 $ 103 $ (68) 2.6 $ 16.1 $ 8.5 Revenues (in millions) $ 63 $ - $ 408 $ IBIT (in millions) $ (32) $ - $ (60) $ Total Contract Value (in millions)(c) $ 86 $ - $ 1,155 $ DS-3 Months Delivered (d) 2,393 - 5,209 (a) Includes third-party transactions of Enron Energy Services. (b) Represents electricity volumes, converted to BBtue/d. EC 002893161 (c) Represents customers' estimated future expenditures. (d) Digital service, level 3 (DS-3) is equal to 28 T-1 channels and operates at 45 megabits per second. V CV) EXH066-00372 ============= Page 38 of 45 ============= SELECTED FINANCIAL DATA Enron Corn. and Subsidiaries 1998 1999 2000 On Millions Except Per Share Amounts Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD Revenues, Net of intercompany Transportation and Distribution Transportation Services $ 637 $ 178 $ 121 $ 160 $ 175 $ 634 $ 202 S 163 $ 126 $ 201 $ 692 Portland General 1,196 299 296 407 377 1.379 397 382 663 608 2,050 Wholesale Services 27,220 6,516 8,558 10,677 9,750 35,501 11,847 15,271 27,669 38,642 93,429 Retail Energy Services 1,072 363 301 345 509 1,518 603 770 1,289 1,162 3,824 Broadband Services - - - - - - 59 151 135 (88) 257 Exploration and Production it) 750 149 175 105 - 429 - - - - - Corporate and Other 385 127 221 141 162 651 37 149 125 226 537 Total $ 31260 $ 7632 $ 9,672 $ 11,835 $ 10,973 $ 40,1112 $ 13,145 S 16886 $ 30,007 $ 40,751 $ 100.789 Net Income Income (Loss) Before Interest, Minority Interests and Income Taxes Transportation and Distribution Transportation Services $ 351 $ 126 $ 72 $ 85 $ 97 $ 380 $ 128 $ 77 $ 83 $ 103 $ 391 Portland General 286 92 56 52 105 305 105 62 74 100 341 Wholesale Services 968 320. 356 378 263 1.317 419 437 627 777 2,260 Retail Energy Services (119) (31) (26) (18) 7 (681 16 24 30 33 103 Broadband Services - - - - - - - (8) (20) (32) (60) Exploration and Production (1) 128 12 20 33 - 65 - - - - - Corporate and Other 7 14 9 23 1 17 44 17 128 134 289 IBIT - Recurring 1,621 533 469 507 473 1,982 624 609 666 847 2,746 Non-Recurring Items (See Analysis of Reported Earnings) 39 13 13 264 264 Total IBIT 1,582 533 469 520 473 1,995 624 609 666 583 2,482 Interest and Related Charges, net 550 175 175 187 119 656 161 196 247 234 838 Dividends on Company-Obligated Preferred Securities of Subsidiaries 77 19 19 19 19 76 18 21 20 18 77 Minority Interests 77 33 23 38 41 135 35 39 35 45 154 Income Tax Provision (Benefit) 175 53 30 14 35 104 72 64 72 226 434 Net Income Before Cumulative Changes 703 253 222 290 259 1,024 338 289 292 60 979 Cumulative Effect of Accounting Changes, net of tax 131 131 Net Income 703 122 222 290 259 893 338 289 292 60 979 Preferred Stock Dividend (2) 17 4 19 19 24 66 20 21 21 21 83 Earning on Common Stock $ 686 $ 118 $ 203 $ 271 $ 235 $ 827 $. 318 S 268 $ 271 $ 39 896 Earnings Per Share 13) Basic $ 1.07 $ 017 $ 0.29 $ 0.38 $ 0.33 $ 1.17 $ 0.44 $ 0.37 $ 0.37 0.05 $ 1.22 Diluted Recurring $ 1.00 $ 0 34 $ 0.27 $ 027 $ 0.31 $ 1 18 $ 040 $ 0.34 $ 0.34 $ 0.41 $ 1 47 Non-Recurring Items (See Analysis of Reported Earnings) 0.01 0.18 - 0.08 0.08 0.36 0.35 R led $ 1.01 $ 0.16 $ 0.27 $ 0.35 $ 0.31 $ 1.10 $ 0.40 $ 0.34 0.34 0.05 $ 1.12 Depreciation, Depletion and Amortization Transportation and Distribution Transportation Services $ 70 $ 17 $ 17 $ 18 $ 14 R 66 $ 16 $ 17 $ 16 $ 18 $ 67 Portland General 183 46 47 43 44 180 46 46 60 59 211 Wholesale Services 195 57 70 71 96 294 75 85 89 94 343 Retail Energy Services 31 6 4 9 10 29 9 9 9 10 37 Broadband Services - - - - - - 3 8 52 14 77 Exploration and Production (1) 315 82 89 43 - 214 - - - - Corporate and Other 33 7 9 41 30 87 23 27 30 40 120 Total $ 827 $ 215 $ 236 $ 225 $ 194 $ 870 $ 172 $ 192 S 256 $ 235 $ 855 III Reflect results of Ereon Ol a Gas bough August 16, 11999. In date of he share exchange transaction. fdlow:g his dale he results of he es ioraton and production operations n India and China are knchuded in Wholesale Energy Operations and Services. 121 The Second Preferred Stock and he Series B Preferred Stock are both dhrtve in he feat bee quarters of 2000 and antdlubve n tie fourth quarter. The Second Preferred Stock is dkitve for he yea-todate 2000. while he Series B Preferred Stock is antdhAve for he same period. (3) A4usled to rated heir-for-one common stock spit effective August 13. 1999. 37 0 EC 002893162 Printed 112112001 4 39 PM EXH066-00373 ============= Page 39 of 45 ============= 0 S 0 ANALYSIS OF REPORTED EARNINGS 1998 1999 2000 n Millions, Except Per Share Amounts Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Diluted Earnings Per Share - Recurring l9 $ 1.00 $ 0.34 $ 0.27 $ 0.27 $ 0.31 $ 1.18 $ 0.40 $ 0.34 $ ' 0.34 $ 0.41 $ 1.47 Non-Recurring Earnings (Loss) items Per Share (it (2) Corporate and Other Charge to reflect impairment byAzurix of certain assets - - - - - - - - - (0.41 (0.40) Gain on sale of The New Power Company stock - - - - - - - - - 0 10 009 Write off of Retail Energy Services costs - - - - - - - - (0 05) (0.04) Gain on sale of subsidiary stock 007 - - 0.44 - 0.45 - - - Charge for reflect losses on contracted MTBE production (0.06) - - - - - - - - - Charge to reflect impairment of MTBE asset - - - (0.36) - (036) - - - Cumulative effect of accounting changes p) - (0.18) - - - (0.17) - - - - Total Non-Recurring Earnings (Loss) Items Per Share 0.01 (0.18) - 0.08 - (0.08) - - (0.36) (0.35) Reported Diluted Earnings Per Share $ 1.01 $ 0.16 $ 0 27 $ 0.35 $ 0.31 $ 1.10 $ 0.40 $ 0.34 $ 0.34 $ 0.05 $ 1.12 Average Number of Common Shares Used In Diluted Computation (it (3) 695.3 744.6 771.1 781.1 779.1 769.0 851.9 862.2 869.6 787.7 813.9 Non-Recurring Earnings (Loss) Items - After tax Corporate and Other Charge to reflect impairment byAzurix of certain assets $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (326) $ (326) Gain on The New Power Company, net - - - - - - 39 39 Gains on sales of subsidiary stock 45 - - 345 345 - - - - - Charge to reflect losses on contracted MTBE production (40) - - - - - - - - - Charge to reflect impairment of MTBE asset - - - (278) - (278) - - - - - Cumulative effect of accounting changes (3) - (131) - - - (131) - - - - Total Non-Recurring Earnings (Loss) Items - After tax $ 5 $ 131 $ - $ 67 $ - $ 64 $ - $ - $ - $ 287 $ 287 Non-Recurring Earnings (Loss) Items - Pretax Corporate and Other Charge to reflect impairment byAzurix of certain assets $ - $ - $ - $ - $ - $ - $ $ $ $ (326) $ (326) Gain on The New Power Company, net - - - - - - - - - 62 62 Gains on sales of subsidiary stock 22 - - 454 454 - - - - - Charge to reflect losses on contracted MTBE production (61) - - - - - - - - - - Charge to reflect impairment of MTBE asset - - - (441) - (441) - - - - - Cumulative effect of accounting changes (3) - (200) - - - (200) - - - - - Total Non-Recurring Earnings (Loss) Items - Pretax $ (39) $ (200) $ - $ 13 $ - $ (187) $ - $ - $ - $ (264) $ (264) (1) A4usled to reflect two-for-one common stock split effective August 13. 1999. (2) Except where a specific tax rate applied. assumes a 35% tax rate. (3) Prknaity due to a adoption of an accounting proraunxmenl requiring lot costs for all start-up activities and organization costs be expensed as incurred 3g EC 002893163 Printed 112112001 4 40 PM EXH066-00374 ============= Page 40 of 45 ============= ! CAPITAL STRUCTURE AND STATISTICS Enron Corp. and Subsidiaries I I 1998 1999 2000 n Millions, Exc. Per Share Amounts Year 1st Otr 2nd Cllr 3rd Qtr 41h Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Common Shares Outstanding (t) Average, Basic 642.4 6834 7080 714.1 7153 7053 7225 733.4 7412 7478 7362 Average, Diluted 6953 744.6 771.1 781.1 779.1 7690 851.9 862.2 869.6 787.7 813.9 End of Period, Diluted 7182 764.4 779 0 781.1 783.2 783.2 861.3 858.3 872.3 791.1 824.5 Markel Price Per Share (end of period) pl S 28531 $ 32 125 $ 40.875 $ 41.063 $ 44.375 $ 44 375 $ 74.875 $ 64.500 $ 87.645 $ 83.125 $ 83 125 Dividends Per Share Cumulative Second Preferred Convertible Stock ('Series J') (2) rn (q $ 13.139 $ 3.413 $ 3 413 $ 3.413 S 3.413 S 13652 $ 3413l $ 3.413 S 3.413 S 3.413 S 13.652 Junior Converlble Preferred Slodk ('Series A') R) - 59.150 59 233 118 383 - - - - Junior Mandlonly Converdde Preferred Stock ('Series B') (4)M 4.333 65000 69333 65.000 65.000 65000 65.000 260-000 Cannon Stock (1) 0 482 0.125 0.125 0.125 0.125 0500 0.125 0.125 0.125 0.125 0.500 Company-Obigated Preferred Stock of Subsidaries 8% Cumulative Preferred ('Series C1 m 2000 0.500 0.500 0500 0500 2,000 0.500 0500 0.500 0500 2.000 9% Cumulative Preferred ('Series A') (31 2.252 0563 0.563 0563 0563 2252 0.563 0.563 0.563 0.563 2.252 8,57% Cuniative Preferred 8.570 000 2.142.500 2,142.500 2,142.500 2,142500 8,570.000 2,142.500 2,142.500 2,142.500 2,142500 8.570000 7.39% Cumulative Preferred 7,390000 1,847500 1,847.500 1,847.500 1,847.500 7,390.000 1,847.500 1,847 500 1,847.500 1.847.500 7,390000 8.30% Trust Originated Preferred (4Series T') m 2.076 0.519 0.519 0.519 0 519 2076 0 519 0519 0 519 0 519 2076 8.125% Trust Originated Preferred ('Series R') m 2.032 0508 0.508 0508 0508 2.032 0.508 0.508 0 508 0 508 2032 7.1% Cumulative Preferred 79.512 19 878 19.878 19.878 19 878 79512 19.878 (9.878 19 878 19.878 79512 Adjustable Rate Trust Securities m 57.681 13.653 12968 13 177 14.430 54228 16 105 11.691 - 27 796 7.75% Cum lative Preferred 7.750 1.938 1.938 1.938 1.938 7.750 1.938 1.938 1.938 1938 7.752 LNG Power II. L.L.C. Preference Units - - - - - - 18.125 18.125 18.125 54.375 Capital Structure Total Deoi S 7,357 S 9,419 S 8.979 $ 8,592 S 8,152 S 8,152 $ 10,172 $ 11,697 S 13,781 n/a n/a Percent 41.9 441 41.5 41.4 385 38.5 43.7 463 49.5 rVa n/a binorilyInterests $ 2,143 S 2,125 S 2,475 $ 1.822 S 2,430 $ 2,430 $ 1.872 $ 1,893 S 1,889 n/a rVa Percent 12.2 9.9 11.4 8.8 11.5 11.5 8 0 7.5 6 8 n/a n/a Company-Obligated Preferred Securities of Subsidaries $ 1,001 S 1,001 S 1,001 S 1,001 S 1,000 $ 1.000 $ 1,099 S 899 $ 904 n/a n/a Percent 5.7 47 46 4.8 47 47 4.7 3.6 32 n/a n/a Shareholders' Equity $ 7,048 $ 8,824 $ 9,206 S 9,345 $ 9,570 $ 9,570 $ 10,140 $ 10.769 S 11.276 n/a n/a Percent 40.2 41.3 42.5 45.0 45.3 45.3 43.6 42.6 40.5 n/a n/a Annual Date Optional Redemption Securities PREFERRED STOCK Dividend Rate Issued Call Date Price Authorized Original Issue Outstanding at 12/31/2000 Enron Corp. Second Preferred Stock ('Series J ') (2) (3) (4) $ 13.65 8/83 8/93 $ 100 1,370,000 2,396.455 1.240,933 Enron Corp. Junior Mandfonly Convertible Preferred Stock ('Series B') (4) (s) 6500% 9/99 n/a 4,000 250.000 250.000 250,000 Preferred Securities of Subsidiary Companies Enron Capital L L.C. ('Series C) (2) 8 000% 11/93 11/98 25 9.200.000 8,550.000 8,550,000 Enron Capital Resources, L. P. ('Series A') m 9000% 7/94 8/99 25 3,000,000 3,000,000 3,000,000 Enron Equity Corp. 8570% 12/94 12/99 100.000 880 880 880 Emon Equity Cap 7390% 4/96 4/01 100.000 150 150 150 Enron Capital Trust I ('Series T') (3 83001/6 11196 12/01 25 8.000,000 8,000,000 8,000.000. Emon Capital Trust 11 ('Series R) w 8125% 1/97 3/02 25 6.000.000 6.000,000 6.000.000 Private Placement 7 100% 3/97 4102 n/a m 20,000 20.000 20,000 Enron Capital Trust III m Variable 6/97 Variable 1,000 200.000 200,000 Portland General Electric Company m 7.750% 6/93 n/a 100 30,000,000 300.000 300.000 LNG Power II, L.L C. Preference Units 7.250% 3100 n/a 1,000 140,000 140,000 140,000 (1) A4 fsd to re4ed two-for-one caman dock ape eredive Aupu 13.1999. (5) On Seplembr 24. 1999. me sere d Series B .Aria M.mdmiy convertible Pref-.d Smock wr 'sewed n e. charge for each there d Sane. (2) Each shwe w cave," No 27.11H shera of Error cerrmon dock d M Iddr's apron foIowic ew call by Error a 1993 (.¢s4d for caiman stock spa A J o is Voting Cavrbre Prdened Seek. E.ch there or Sodas B e merdlorey comrlble ido 200 shies d Error conmhm dock en .flecks. AupgM t3, 19991 The d iderd ie eprd le le higher off 10.50 pr here a ehe equrderd dxide d l d weld be paid dew shies had Men converted Jwrrry 15.2003 (3) PeAik kdd on the New York Stock Eec hwhg.. (6) Redeemed.Ane 6.2000 (4) The Second Preferred Sod wd M Swiss B Prefend Sl odh we both dk*n in the kd nee Weirs of 2000 and adwAse n she fmaeh pair. The (7) Redengbon piee owes listed an aiyd Ieeu, wreath EC 002893164 Second Preferred Sleek s dkde for M yewdodae 2000. while In Sae, BPreferred Sock is wdiAhese for it* seem period (6) Conmidsredby Emon beRe:hg. Ad rAdr I. t97. 39 Printed If2imoI 4 40 PM EXH066-00375 ============= Page 41 of 45 ============= ! ! CONSOLIDATED BALANCE SHEET Enron Corp. and Subsidiaries 1998 1999 2000 On Millions 12131 3131 6130 9130 12131 3131 8130 9130 Current Assets Cash and cash equivalents $ Ill $ 296 $ 286 $ 316 $ 288 $ 466 $ 718 $ 697 Trade and other receivables, net 2,893 3,534 3,522 3,851 3,548 4,352 6,269 7,675 Assets from price risk management activities 1,904 1,554 1,756 2,156 2,205 3,139 5,696 7,294 Inventories 514 458 557 613 598 437 571 1,942 Other 511 603 772 631 616 939 1,116 1,198 Total Current Assets 5,933 6,445 6,893 7,567 7,255 9,333 14,370 18,806 Investments and Other Assets Investments in and advances to unconsolidated equity affiliates 4,433 4,632 4,779 4.968 5,036 6,020 5,621 5.?7"~ Assets from price risk management activities 1,941 2.271 2,364 3,052 2,929 3,428 5,228 7 . r Goodwill 1,949 2,690 2,696 2,636 2,799 2,905 3,408 3,64ti Other 4,437 5,076 5,599 5,578 4,681 5,101 5,728 6,348 Total Investments and Other Assets 12.760 14,669 15,438 16,234 15,445 17,454 19,985 22,737 Property, Plant and Equipment, at cost 15,792 17,197 17,507 12,924 13,912 14,012 14,682 15,133 Less accumulated depreciation, depletion and amortization 5,135 5,612 5,691 3,149 3,231 3,315 3,471 3,680 Net Property, Plant and Equipment 10,657 11,585 11,816 9,775 10,681 10,697 11,211 11,453 Total Assets $ 29,350 $ 32,699 $ 34,147 $ 33,576 $ 33,381 $ 37,484 $ 45,566 $ 52,996 Current Liabilities Accounts payable $ 2,380 $ 2,694 $ 2,603 $ 2,281 $ 2,154 $ 2,914 $ 4,400 $ 5,390 Liabilities from price risk management activities 2,511 1,542 2,386 2,829 1,836 2,697 4,292 6,187 Short-term debt - - - - 1,001 1,884 1,486 3,117 Other 1,216 1,408 1,457 1,559 1,768 1,695 2,044 2,408 Total Current Liabilities 6,107 5,644 6,446 6,669 6,759 9,190 12,222 17,102 Long-term Debt 7,357 9,419 8,979 8,592 7.151 8,288 10,211 10,664 Deferred Credits and Other Liabilities Deferred income taxes 2,357 2.194 2,352 1,908 1,894 1,791 1,678 1,565 Liabilities from price risk management activities 1,421 1,852 2,068 2,521 2,990 3,510 5,525 7,314 Other 1,916 1,640 1,620 1,718 1,587 1,594 2,369 2,282 Total Deferred Credits and Other Liabilities 5,694 5,686 6,040 6,147 6,471 6,895 9,572 11,161 Minority Interests 2,143 2,125 2,475 1,822 2,430 1,872 1,893 1,889 Company-Obligated Preferred Securities of Subsidiaries 1,001 1,001 1,001 1,001 1,000 1,099 899 904 Shareholders' Equity Cumulative second preferred convertible stock 132 131 131 130 130 129 127 127 Junior voting convertible preferred stock - 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Common stock 5,117 6,249 6.588 6,640 6.637 7,041 7,665 8,003 Retained earnings 2,226 2,256 2,369 2,537 2,698 2,922 3,101 3,277 Cumulative foreign currency translation adjustment (162) (711) (760) (853) (741) (756) (861) (958) Common stock held in treasury (195) (50) (1) (1) (49) (16) (84) (18) Restricted stock and other (70) (51) (121) (108) 105 180 179 (155) Total Shareholders' Equity 7,048 8,824 9,206 9,345 9.570 10,140 10,769 11,276 Total Liabilities and Shareholders' Equity $ 29,350 $ 32,699 $ 34,147 $ 33,576 $ 33,381 $ 37,484 $ 45,566 $ 52,996 EC 002893165 40 Printed 1(2112001 4 40 PM EXH066-00376 ============= Page 42 of 45 ============= CONSOLIDATED STATEMENT OF CASH FLOWS Enron C and Subsidiaries fln 11111111onal YTD 1996 I 3131 YTD 1999 V30 1 YTD 2000 Cash Flows From Operating Activities &M__ 9 30 12131 -N3j &130 9130 Reconciliation of net income (loss) to net cash provided by (used in) operating activities Net income (loss) before extraordinary items S 703 S 122 $ 344 S 634 $ 893 S 338 $ 627 S 919 Cumulative effect of accounting changes, net of tax - 131 131 131 131 - - Depreciation, depletion and amortization 827 215 451 676 870 172 364 620 Impairment of long-lived assets - 441 441 - - - Deferred income, taxes 87 2 (11) (38) 21 30 31 22 Equity in earnings of unconsolidated affiliates (97) (68) (230) (269) (309) (264) (319) (365) Gains on sales of assets and investments (82) (12) (12) (461) (541) (18) (90) (135) Changes in components of working capital (233) (556) (909) (1,072) (1.000) (313) (524) (188) Net assets from price risk management activities 350 (518) 247 55 1395) (52) (799) (952) Merchant assets and investments: Realized gains and losses on sales (628) (22) (161) (252) (756) (31) 29 15 Proceeds from sales 1,434 26 561 708 2,217 199 553 683 Additions and unrealized gains and losses (721) (135) (829) (657) (827) (517) (1,095) (1,414) Otter operating activities 155 380 61 483 1 .676 895 Net Cash Provided by (Used In) Operating Activities 1,640 38 43 1,228 45 54T 100 Cash Flows From Investing Activities Capital expenditures (1,905) (519) (969) (2,022) (2,363) (496) (1,009) (1,549) Equity investments (1,659) (409) (648) (718) (722) (316) (390) (870) Proceeds from sales of investments and other assets 239 43 138 245 294 17 105 222 Acquisition of subsidiary stock (180) - - - - 1619) (743) (743) Business acquisitions, net of cash acquired (104) (38) (40) (213) (311) (10) (100) (515) Other investing activities 356 207 340 447 4 69 11 14 Not Cash Provided by (Used In) investing Activities 3965 (1,130) 1859 315 350 149 (2,254) 3602 Cash Flows From Financing Activities Issuance of long-tens debt 1,903 114 1,301 1,570 1,776 1,361 2,479 2.725 Repayment of long. -term debt (870) (68) (645) (1,417) (1,837) (393) (431) (545) Net increase (decrease) in start-term borrowings (158) 1.119 128 2,038 1,565 962 1,301 1,694 Net Issuance (redemption) of company-obligated preferred securities of subsidiaries 8 - - - - 105 (95) (95) Issuance of common stock 867 839 889 889 852 179 264 182 Issuance of subsidiary equity 828 - 513 513 568 - - - Dividends paid (414) (113) (227) (346) (467) (156) (265) (396) Net (acquisition) disposition o(treasury stock 13 119 181 223 139 70 (129) 354 Other financing activities 89 35 68 6 140 107 8 Net Cash Provided by Financing Activities 2,266 1975 2 072 3,403 2,456 2,128 3,231 3,911 Increase (Decrease) in Cash and Equivalents (59) 185 175 205 177 178 430 409 Cash and Cash Equivalents, Beginning of Period 170 111 ill Ill 111 288 288 288 Cash and Cash Equivalents, End of Period 111 296 286 316 288 466 718 697 Capital Expenditures Transportation and Distribution Transportation Services S 181 S 25 S 50 S 66 S 120 S 10 S 2 $ 33 Portland General 129 29 60 128 196 31 78 130 Wholesale Services 706 278 610 1,035 1.216 317 523 862 Retail Energy Services 75 22 34 49 64 17 30 40 Broadband Services - - - - 71 219 280 Exploration and Production 690 92 180 227 226 - - Corporate and Other 124 73 35 517 541 50 157 204 Total 1,905 519 969 2.022 2,363 496 1009 1549 Equity Investments Transportation and Distribution Transportation Services $ 27 S . S . S - $ - S - S - $ - Portland General - - - - - - Wholesale Services 703 381 647 709 712 304 372 848 EC 002893166 Retail Energy Services - - - - Broadband Services - - Exploration and Production - - Corporate and Other 929 28 1 9 10 12 18 22 Total e t aso t Ana t a.o a 74Y t ,,, t .14a 4,, PrIMad 1/21/2001 4 40 PM EXH066-00377 ============= Page 43 of 45 ============= SELECTED FINANCIAL AND OPERATING HIGHLIGHTS Transportation and Distribution-Transportation Services 1998 1999 2000 On Millions. Except Where Not Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Transportation Services Gross Margin $ 640 $ 181 $ 124 $ 145 $ 176 $ 626 $ 201 $ 148 $ 119 $ 182 $ 650 Operating Expenses 276 61 65 64 74 264 65 76 63 76 280 Deprecialion and Amortization 70 17 17 18 14 66 16 17 16 18 67 Equity in Earnings of Unconsolidated Affiliates 32 8 8 14 8 38 7 10 28 18 63 Other Income, net 25 15 22 8 1 46 1 12 15 (3) 25 Reported Income Before Interest and Taxes $ 351 $ 126 $ 72 $ 85 $ 97 $ 380 $ 128 $ 77 $ 83 $ 103 $ 391 Northern Natural Gas (100% Owned) Transportation Revenues $ 480 $ 140 $ 87 $ 86 $ 137 $ 450 $ 164 $ 69 $ 77 $ 136 $ 446 Average Transportation Rate (per MMBtu) $ 0.32 S 035 $ 0.27 $ 027 $ 0.40 $ 0.32 $ 0 44 $ 0.23 $ 028 $ 0.40 S 0 34 Gas Transportation BBtu/ 4,098 4,464 3,553 3,525 3,738 3,820 4,147 3,237 3,009 3,728 3,529 Transwestern Pipeline (100% Owned) Transportation Revenues S 145 $ 35 $ 35 $ 36 $. 36 $ 142 $ 36 $ 36 $ 39 $ 40 $ 151 Average Transportation Rate (per MMBtu) $ 0.25 $ 0.28 $ 0.27 S 0.25 $ 0.27 $ 0.27 $ 0.24 $ 0.25 $ 0.24 $ 0.25 $ 025 Gas Transportation BBtu/ 1.608 1.393 1,419 1,575 1,460 1,462 1,566 1.606 1,746 1,715 1,657 Florida Gas Transmission (50% Owned) Transportation Revenues $ 306 $ 75 S 76 $ 78 $ 76 $ 305 $ 76 $ 77 $ 78 $ 77 $ 308 Average Transportation Rate (per MMBIu) $ 063 $ 0.68 $ 0.54 $ 0.47 $ 0.54 $ 0.56 $ 0.54 $ 0.53 $ 0.51 $ 0.66 $ 056 Gas Transportation BBlu/ 1,324 1,225 1,546 1,659 1,538 1,495 1,563 1,591 1,649 1.270 1,501 Northern Border Pipeline (8% Owned) Transportation Revenues $ 197 $ 74 $ 73 $ 74 $ 78 $ 299 $ 76 $ 77 $ 78 $ 79 $ 310 Gas Transportation (BBtu/d) 1,770 2,388 2,405 2,419 2,406 2,405 2,464 2,429 2,420 2,460 2,443 Rate per 100 Dekatherm Miles $ 0.037 $ 0.037 $ 0.037 $ 0.036 $ 0.036 $ 0.037 $ 0041 $ 0.041 $ 0.040 $ 0.040 $ 0.041 y.2 EC 002893167 Printed 121/2001 4 40 PM EXH066-00378 ============= Page 44 of 45 ============= 0 SELECTED FINANCIAL AND OPERATING HIGHLIGHTS Transportation and Distribution - Portland General Electric 1998 Revenues (Portland General Group) Residential $ 432 $ 134 $ 98 $ 86 $ 120 $ 438 $ 135 $ 99 $ 90 $ 124 $ 448 Commercial 345 89 86 96 96 367 92 92 102 102 388 Industrial 131 36 39 46 52 173 46 51 56 55 208 Accrued (Collected) Revenues 7 10 6 7 3 26 3 2 9 - 14 Retail Revenues 901 269 229 235 271 1,004 276 244 257 281 1,058 Wholesale 234 25 62 166 102 355 114 182 466 409 1.171 Other 61 5 5 6 4 20 7 5 6 9 27 Total Revenues 1,196 299 296 407 377 1,379 397 431 729 699 2,256 Purchased Power 3 Fuel 451 100 119 241 179 639 202 252 522 485 1,461 Operating Expenses 295 70 79 74 81 304 78 76 85 82. 321 Depreciation & Amortization 183 46 48 43 44 181 46 46 60 59 211 Other Income (Expense) 19 9 6 3 32 50 34 5 12 27 78 Income Before Interest and Taxes $ 286 $ 92 $ 56 $ 52 $ 105 $ 305 $ 105 $ 62 $ 74 $ 100 $ 341 Operating Statistics (Portland General Electric) Retail Customers (End of Period, Thousands) 704 708 711 714 719 719 724 726 722 725 725 Electricity Sales (Thousand MWh) Residential 7,101 2.342 1,618 1,440 2,004 7,404 2,361 1,480 1,444 2,148 7,433 Commercial 6,781 1,816 1,746 1,951 1,879 7,392 1,872 1,769 1,964 1,922 7,527 Industrial 3,562 1,020 1,083 1.162 1,198 4,463 1,169 1,235 1,249 1,259 4,912 Total Retat 17,444 5,178 4,447 4,553 5,081 19.259 5,402 4,484 4,657 5,329 19,872 Wholesale 10,869 1,338 3,053 4,921 3,300 12,612 4,281 4,909 5,703 3,655 18,548 Total Sales 28,313 6,516 7,500 9,474 8,381 31,871 9,683 9,393 10,360 8,984 38,420 Average Billed Revenue (( per kWh) Residential 6 07 5 73 6.08 6.04 599 5.91 5 72 6 69 6 23 5.77 6 03 Commercial 509 4 91 492 487 5 12 497 491 5.20 5.19 531 5.15 Industrial 3 69 3.49 3.63 396 4.32 3 88 3 93 413 4.48 4 37 4.23 Total Retail 5 21 500 5.03 5 01 527 508 505 5.40 5 33 5 27 525 Wholesale 2.15 1.88 2.03 3.37 311 2.82 266 3 71 8.17 11.19 631 Total Sales 4 03 4 36 3 81 4.15 4.42 418 4.00 451 6.89 7.68 5.77 Resource Mix Coal 16% 18% 12% 14% 16% 15% 13% 7% 9% 14% 11% Combustion Turbine 12% 4% 6% 8% 14% 8% 10% 6% 14% 17% 12% I-lydro 9% 13% 10% 5% 8% 9% 8% 7% 4% 6% 6% Total Generation 37% 35% 28% 27% 38% 32% 31% 20% 27% 37% 29% Firm Purchases 56% 47% 61% 61% 56% 57% 62% 74% 63% 53% 63% Secondary Purchases 7% 18% 11% 12% 6% 11% 7% 6% 10% 10% 8% Total Resources 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Average Variable Power Cost (Mills/kWh) Generation 86 8.0 87 101 115 98 12.1 145 15.1 160 145 Firm Purchases 173 167 16.8 303 250 232 233 250 50.1 430 349 Secondary Purchases 236 150 185 220 274 197 255 74.6 1266 226.6 1236 Trdal AVArma Varlatllp Power (nct t5 R 15 0 IS 5 24 7 20 7 19 5 208 269 48.8 52.1 372 413 0 EC 002893168 Printed 1212001 4 40 PM EXH066-00379 ============= Page 45 of 45 ============= I SELECTED FINANCIAL AND OPERATING HIGHLIGHTS Wholesale Energy Operations and Services 1998 On Millions, Except Where Noted) Year Income Before Interest, Minority Interests and Income Taxes Commodity Sales and Services Assets and Investments Unallocated Expenses Reported I81T Physical Volumes (BBtueld) (1) Gas: United Slates 7,418 Canada 3,486 Europe and other 1,251 Total Physical Sales Volumes 12.155 Transport Volumes 559 Total Physical Gas Volumes 12,714 Crude Oil and Liquids 3,570 Electricity (2) 11,024 Total Physical Volumes 27,308 Electricity Volumes (Thousand MM) United States 401,843 Europe and Other 529 Transaction Volumes Marketed 402,372 9.088 8,038 8,573 10,219 8,982 3,954 4,475 4,748 4.406 4,398 1,799 1,223 1,640 1,630 1,572 14,841 13,736 14,961 16,255 14,952 556 513 537 693 575 15,397 14,249 15,498 16,948 15,527 4,284 8,822 4,699 6,824 6,160 9,594 10,637 12,406 10,306 10.742 29,275 33,708 32,603 34,078 32,429 85,962 94,966 111,336 88,254 380,518 384 1,833 2,795 6,564 11,576 86,346 96,799 114,131 94,818 392,094 95.151 82.699 109.351 109.872 99.337 Retail Energy Services 1999 2000 n Millions, Exc. What* Not. Year lot Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Revenues S 1,072 S 370 $ 340 $ 542 $ 555 $ 1,807 $ 642 $ 840 S 1,476 $ 1,657 $ 4,615 IBIT $ (119) $ (31) $ (26) $ (18) $ 7 $ (68) $ 16 $ 24 S 30 $ 33 S 103 Total Contract Value pn Billions) p/ $ 3.8 $ 1.7 $ 1.7 $ 2.5 $ 2.6 $ 8.5 $ 3.7 $ 3 8 $ 4.1 $ 4.5 $ 16.1 Broadband Services (in Millions, Except Where Noted) Year Revenues - IBIT - Total Contract Value (4) - DS-3 Months DeBvered (5) - (1) Vohsnes inducts thid-pwty trsns.dions of Enron Energy Services. (2) Represents sledricily whores. converted to BB uold. (3) Represents codomen' estimated hdrre energy eependihres. (4) Represents customers' edinsted future eapend4ues for broadband content towns (5) Digital service. level 3 (Ds-3) is equal to 28 T-1 channels and operates of 45 megabits per second. 114 1999 2000 lift 3rd Qt S 411 $ 224 S 81 $ 172 S 151 $ 628 $ 246 S 442 $ 404 $ 538 $ 1,630 709 136 325 240 149 850 220 55 305 309 889 (152) (40) (50) (34) (37) (161) (47) (60) (82) (70) (259; $ 968 S 320 S 356 S 378 S 263 $ 1.317 S 419 $ 437 $ 627 S 777 S 2,260 16,217 15,851 17,176 21,417 17,674 4,389 6,587 7,449 6,993 6,359 2,469 3.593 3,605 4,866 3,637 23,075 26,031 28,230 33,276 27,670 456 595 618 925 649 23,531 26,626 28,848 34,201 28,319 6,134 5,048 5,754 7,406 6,088 12,170 15,056 18,857 23,068 17,308 41,835 46,730 53,459 64,675 51,715 102,903 124.089 162,963 188,832 578.787 7,844 12,912 10,525 23,389 54,670 141.865 152.627 212.174 276.865 196.1 2000 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year $ 59 S 151 $ 135 $ 63 $ 408 S - $ (8) $ (20) $ (32) S (60) $ 31 $ 1,019 S 19 S 86 $ 1.155 432 985 1,399 2,393 5,209 0 EC 002893169 Printed 1/2112001 4 40 PM FXH066-00380