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

    September 30,
(thousands)   2001   2000

ASSETS        
Current assets        
Cash and cash equivalents   $ 77,786   $ 26,395
Short-term investments   6   6
Receivables, less allowance for uncollectibles   361,616   371,658
Note Receivable   -   -
Inventories, at average cost        
Fuel   95,416   79,217
Materials and supplies   85,298   70,816
Prepayments   32,135   28,070

Total current assets   652,257   576,162

         
Property, plant and equipment        
Utility plant in service-electric   4,824,588   4,447,802
Utility plant in service-gas   657,780   641,448
Construction work in progress   774,942   233,487
Other property   1,111,310   1,041,936

    7,368,620   6,364,673
Accumulated depreciation   (2,701,696)   (2,547,398)

Total property, plant and equipment, net   4,666,924   3,817,275
         
Other assets        
Other investments   202,215   222,999
Investment in unconsolidated affiliates   166,577   153,176
Deferred income taxes   121,818   118,471
Deferred charges and other assets   434,068   282,004

Total other assets   924,678   776,650

Total assets   $ 6,243,859   $ 5,170,087

         
         

LIABILITIES AND CAPITAL        
Current liabilities        
Long-term debt due within one year   $ 477,912   $ 228,648
Notes payable   401,600   935,900
Accounts payable   215,010   247,230
Customer deposits   85,087   81,529
Interest accrued   58,137   38,593
Taxes accrued   122,032   141,867

Total current liabilities   1,359,778   1,673,767
         
Other liabilities        
Deferred income taxes   391,327   438,469
Investment tax credits   33,568   38,043
Regulatory liability -- tax related   4,302   9,448
Other deferred credits   220,339   172,201
Long-term debt, less amount due within one year   2,159,960   1,359,820
Preferred Company Securities   200,000   -
Capital        
Common equity (outstanding 136,035,862 shares in 2001        
and 125,895,466 shares in 2000)   1,922,481   1,530,167
Unearned compensation   (47,896)   (51,828)

Total liabilities and capital   $ 6,243,859   $ 5,170,087

         
Book value per share   $ 14.13   $ 12.15