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FORWARD-LOOKING STATEMENTS
Certain matters discussed
in this Annual Report on Form 10-K are “forward-looking
statements.” The Private Securities Litigation Reform
Act of 1995 has established that these statements qualify
for safe harbors from liability. Forwardlooking statements
may include words like we “believe,” “anticipate,” “target,”
“expect,” “pro forma,” “estimate,” “intend” or words
of similar meaning. Forwardlooking statements describe
our future plans, objectives, expectations or goals.
Such statements address future events and conditions
concerning: capital expenditures; earnings; liquidity
and capital resources; litigation; accounting matters;
possible corporate restructurings, mergers, acquisitions
and dispositions; the sale of assets proposed in our
Debt Reduction and Restructuring Plan filed with the
Kansas Corporation Commission on February 6, 2003; compliance
with debt and other restrictive covenants; interest
and dividends; Protection One, Inc.’s financial condition
and its impact on our consolidated results; possible
future impairment charges; environmental matters; nuclear
operations; events in foreign markets in which investments
have been made; and the overall economy of our service
area.
What happens in each case
could vary materially from what we expect because of
such things as: electric utility deregulation or re-regulation;
regulated and competitive markets; ongoing municipal,
state and federal activities; economic conditions; changes
in accounting requirements and other accounting matters;
changing weather; rate and other regulatory matters,
including the impact of the November 8, 2002 and December
23, 2002 orders issued by the Kansas Corporation Commission
requiring debt reduction; amendments or revisions to
our Debt Reduction and Restructuring Plan filed with
the Kansas Corporation Commission; the impact of changes
and downturns in the energy industry and the market
for trading wholesale electricity; the sale of our interests
in ONEOK, Inc., Protection One, Inc., and Protection
One Europe; the federal grand jury subpoena by the United
States Attorney’s Office requesting certain information;
the Securities and Exchange Commission’s review of our
consolidated financial statements; the subpoena received
from the Federal Energy Regulatory Commission seeking
information on power trades with Cleco Corporation and
its affiliates and on other power marketing transactions;
political, legislative and regulatory developments;
regulatory, legislative and judicial actions; the impact
of the purported shareholder and employee class action
lawsuits filed against us; the impact of changes in
interest rates generally and, specifically, changes
in the London Interbank offer rate (LIBOR) on the fair
value of our swap transactions; changes in the 10-year
United States treasury rates and the corresponding impact
on the fair value of our call option; homeland security
considerations; ongoing impairment tests; coal, natural
gas and oil prices; and other circumstances affecting
anticipated operations, sales and costs.
These lists are not all-inclusive
because it is not possible to predict all possible factors.
This report should be read in its entirety. No one section
of the report deals with all aspects of the subject
matter. Any forward-looking statement speaks only as
of the date such statement was made, and we do not undertake
any obligation to update any forward-looking statement
to reflect events or circumstances after the date on
which such statement was made except as required by
applicable laws or regulations.
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