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PP&L RESOURCES, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
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Consolidated Balance Sheet
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(Millions of Dollars)
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Sept. 30, 1999
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Dec. 31, 1998(a)
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Assets
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Property, plant and equipment
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Transmission and distribution - net
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$2,463
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$2,179
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Generation - net
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1,691
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1,601
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General and intangible - net
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247
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223
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Construction work in progress
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123
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117
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Nuclear fuel and other leased property
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129
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162
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Electric utility plant - net
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4,653
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4,282
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Gas and oil utility plant - net
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170
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175
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Other property - net
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58
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23
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4,881
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4,480
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Investments and current assets
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2,254
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1,854
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Recoverable transition costs
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2,706
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2,819
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Regulatory and other assets
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768
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454
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Total assets
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$10,609
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$9,607
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Capitalization and liabilities
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Earnings reinvested
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$543
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$372
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Other common equity
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1,803
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1,837
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Treasury stock
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(836)
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(419)
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Preferred stock
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97
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97
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Company-obligated mandatorily redeemable securities
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250
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250
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Minority interest
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85
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0
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Long-term debt (less current portion)
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3,650
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2,983
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Total capitalization
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5,592
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5,120
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Current liabilities
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1,900
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1,276
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Deferred income taxes and ITC
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1,514
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1,574
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Liability for above market NUG purchases
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699
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775
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Other noncurrent liabilities
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904
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862
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Total capitalization and liabilities
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$10,609
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$9,607
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(a) Certain amounts have been reclassified to conform to the current period presentation.
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Key Indicators
Financial
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12 Months Ended
Sept. 30, 1999
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12 Months Ended
Sept. 30, 1998
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Dividends declared per share
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$1.00
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$1.50
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Book value per share (a)
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$10.50
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$11.07
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Market price per share (a)
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$27.0625
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$25.8750
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Dividend yield
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3.70%
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5.81%
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Dividend payout ratio (b)
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46.95%
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79.08%
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Price/earnings ratio (b)
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12.71
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13.62
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Return on average common equity (b)
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13.90%
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11.04%
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(a) End of period
(b) Based on adjusted earnings
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Key Indicators
Operating
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3 Mos. Ended Sept. 30
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9 Mos. Ended Sept. 30
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12 Mos. Ended Sept. 30
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1999
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1998
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Percent Change
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1999
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1998
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Percent Change
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1999
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1998
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Percent Change
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(millions of kwh)
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Electricity delivered to retail customers (a)
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8,221
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8,368
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-1.8
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25,086
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24,201
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3.7
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33,029
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32,102
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2.9
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Electricity supplied to retail customers (a)
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8,480
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8,317
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2.0
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25,232
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23,847
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5.8
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33,037
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31,682
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4.3
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Wholesale energy sales
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7,805
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12,258
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-36.3
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24,034
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29,303
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-18.0
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31,439
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35,995
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-12.7
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(a) Electricity delivered to retail customers represents the kwh delivered to customers within PP&L, Inc.'s service territory. Electricity supplied represents the kwh supplied to customers within and outside PP&L, Inc.'s service territory (including sales of PP&L EnergyPlus). Customers within PP&L, Inc.'s service territory will have their energy delivered by PP&L, Inc.; however, they have a choice as to their electricity supplier.
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