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

    December 31,

(thousands)   2001   2000
ASSETS        
Current assets        
Cash and cash equivalents   $ 120,235   $ 99,603
Short-term investments   6   6
Receivables, less allowance for uncollectibles   348,132   360,277
Note Receivable   92,685   223,089
Inventories, at average cost        
Fuel   87,283   67,309
Materials and supplies   83,188   77,162
Current derivative asset   6,194   -
Prepayments   38,206   22,396

Total current assets   775,929   849,842

         
Property, plant and equipment        
Utility plant in service-electric   4,861,050   4,523,136
Utility plant in service-gas   699,409   632,138
Construction work in progress   897,040   332,202
Other property   1,085,946   1,072,995

    7,543,445   6,560,471
Accumulated depreciation   (2,705,201)   (2,590,324)

Total property, plant and equipment, net   4,838,244   3,970,147
         
Other assets        
Other investments   210,406   182,918
Investment in unconsolidated affiliates   172,889   195,873
Intangible Asset   28,511   -
Goodwill   165,784   -
Long term derivative asset   2,165   -
Deferred income taxes   136,243   116,331
Deferred charges and other assets   285,962   361,098

Total other assets   1,001,960   856,220

Total assets   $ 6,616,133   $ 5,676,209

         
         

LIABILITIES AND CAPITAL        
Current liabilities        
Long-term debt due within one year   $ 788,209   $ 237,294
Notes payable   638,900   1,208,950
Accounts payable   267,361   274,854
Current derivative liability   33,852   -
Customer deposits   86,305   82,398
Interest accrued   35,583   41,870
Taxes accrued   71,731   54,456

Total current liabilities   1,921,941   1,899,822
         
Other liabilities        
Deferred income taxes   392,884   445,242
Investment tax credits   32,311   36,907
Regulatory liability -- tax related   1,746   10,048
Long term derivative liability   3,495   -
Other deferred credits   249,113   202,742
Long-term debt, less amount due within one year   1,843,066   1,374,591
Preferred Company Securities   200,000   200,000
Capital        
Common equity (outstanding 139,636,726 shares in 2001        
and 126,334,403 shares in 2000)   2,015,926   1,559,506
Unearned compensation   (44,349)   (52,649)

Total liabilities and capital   $ 6,616,133   $ 5,676,209

         
Book value per share   $ 14.44   $ 12.34