TECO ENERGY, Inc.
CONSOLIDATED BALANCE SHEETS (Unaudited)
(All significant intercompany transactions have been eliminated in the consolidated financial statements.)
         

    June 30,

(thousands)   2002   2001
ASSETS        
Current assets        
Cash and cash equivalents   $ 140,133   $ 71,893
Restricted cash   147,893   1,655
Short-term investments   6   6
Receivables, less allowance for uncollectibles   415,259   352,723
Note Receivable   136,966   -
Inventories, at average cost        
Fuel   120,053   107,749
Materials and supplies   83,592   81,491
Current derivative asset   6,293   -
Prepayments   31,646   21,783

Total current assets   1,081,841   637,300

         
Property, plant and equipment        
Utility plant in service-electric   4,995,009   4,775,643
Utility plant in service-gas   716,929   649,558
Construction work in progress   1,260,185   576,858
Other property   1,099,193   1,097,308

    8,071,316   7,099,367
Accumulated depreciation   (2,814,475)   (2,658,034)

Total property, plant and equipment, net   5,256,841   4,441,333
         
Other assets        
Other investments   485,726   190,420
Investment in unconsolidated affiliates   172,576   155,455
Intangible Asset   16,378   -
Goodwill   193,278   -
Long term derivative asset   2,011   -
Regulatory Asset   141,002   198,231
Deferred income taxes   284,356   123,306
Deferred charges and other assets   140,444   310,585

Total other assets   1,435,771   977,997

Total assets   $ 7,774,453   $ 6,056,630

         
         

LIABILITIES AND CAPITAL        
Current liabilities        
Long-term debt due within one year   $ 635,382   $ 626,892
Notes payable   281,200   220,900
Accounts payable   316,229   231,175
Current derivative liability   7,145   -
Customer deposits   89,293   83,868
Interest accrued   47,413   37,880
Taxes accrued   116,950   104,790

Total current liabilities   1,493,612   1,305,505
         
Other liabilities        
Deferred income taxes   484,792   423,761
Investment tax credits   30,056   34,803
Regulatory liability   101,333   109,353
Long term derivative liability   1,482   -
Other deferred credits   233,971   150,696
Long-term debt, less amount due within one year   2,423,049   2,016,525
Preferred Company Securities   649,125   200,000
Capital        
Common equity (outstanding 156,060,419 shares in 2002        
and 135,921,394 shares in 2001)   2,400,123   1,868,086
Unearned compensation   (43,090)   (52,099)

Total liabilities and capital   $ 7,774,453   $ 6,056,630

         
Book value per share   $ 15.38   $ 13.74