WESTAR ENERGY, INC. CONSOLIDATED BALANCE SHEETS
   
 As of December 31,   

2002

     

2001

  
   
(Dollars in Thousands)
 

ASSETS

   
 
 
 
         

CURRENT ASSETS:

   
 
 
 
         

Cash and cash equivalents

   

$

123,006
  

$

96,388

  

Restricted cash

   

159,006
    

15,495

  

Accounts receivable, net

   

94,747
    

96,824

  

Inventories and supplies

   

152,392
    

145,000

  

Energy trading contracts

   

44,175
    

71,421

  

Deferred tax assets

   

—  
    

23,284

  

Prepaid expenses and other

   

45,069
    

55,557

  

Assets of discontinued operations

   

—  
    

22,938

  
    
  

     Total Current Assets

   

618,395
    

526,907

  
    
  

PROPERTY, PLANT AND EQUIPMENT, NET

   

3,995,371
    

4,070,988

  
    
  

OTHER ASSETS:

   
 
 
 
         

Restricted cash

   

35,760
    

38,515

  

Investment in ONEOK

   

703,315
    

695,744

  

Customer accounts, net

   

378,857
    

786,839

  

Goodwill, net

   

41,847
    

879,926

  

Regulatory assets

   

360,347
    

358,025

  

Energy trading contracts

   

17,179
    

15,247

  

Other (NOTE 2)

   

292,028
    

260,961

  
    
  

     Total Other Assets

   

1,829,333
    

3,035,257

  
    
  

TOTAL ASSETS

   

$

6,443,099
  

$

7,633,152

  
    
  

LIABILITIES AND SHAREHOLDERS’ EQUITY

   
 
 
 
         

CURRENT LIABILITIES:

   
 
 
 
         

Current maturities of long-term debt

   

$

316,736
  

$

167,895

  

Short-term debt

   

2,763
    

222,300

  

Accounts payable

   

95,936
    

122,968

  

Accrued liabilities

   

216,357
    

216,017

  

Accrued income taxes

   

17,221
    

35,048

  

Deferred security revenues

   

44,562
    

46,519

  

Energy trading contracts

   

43,370
    

67,859

  

Deferred tax liability

   

2,998
    

—  

  

Other

   

64,770
    

24,571

  

Liabilities of discontinued operations

   

—  
    

1,364

  
    
  

     Total Current Liabilities

   

804,713
    

904,541

  
    
  

LONG-TERM LIABILITIES:

   
 
 
 
         

Long-term debt, net

   

3,058,323
    

2,999,188

  

Western Resources obligated mandatorily redeemable preferred securities
        of subsidiary trusts, holding solely company subordinated debentures

   

214,505
    

220,000

  

Deferred income taxes and investment tax credits

   

811,879
    

1,020,993

  

Minority interests

   

55,894
    

166,850

  

Deferred gain from sale-leaseback

   

162,638
    

174,466

  

Energy trading contracts

   

8,341
    

16,500

  

Other

   

348,684
    

286,553

  
    
  

     Total Long-Term Liabilities

   

4,660,264
    

4,884,550

  
    
  

COMMITMENTS AND CONTINGENCIES (NOTE 17)

   
 
 
 
         

SHAREHOLDERS’ EQUITY:

   
 
 
 
         

Cumulative preferred stock, par value $100 per share; authorized 600,000 shares;
         issued 248,576 shares; outstanding 214,363 shares and 239,364 shares, respectively

   

21,436
    

23,936

  

Common stock, par value $5 per share; authorized 150,000,000 shares;
         issued 72,840,217 shares and 86,205,417 shares, respectively

   

364,201
    

431,027

  

Paid-in capital

   

825,744
    

1,196,763

  

Unearned compensation

   

(14,742

)

     

(21,920

)

Loans to officers

   

(1,832

)

     

(1,973

)

Retained earnings (accumulated deficit)

   

(185,961

)

     

606,502

  

Treasury stock, at cost, 1,333,264 and 15,097,987 shares, respectively

   

(18,704

)

     

(364,901

)

Accumulated other comprehensive loss, net

   

(12,020

)

     

(25,373

)
    
  

     Total Shareholders’ Equity

   

978,122
    

1,844,061

  
    
  

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

   

$

6,443,099
  

$

7,633,152

  
    
  

The accompanying notes are an integral part of these consolidated financial statements.

 

 

 

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