DJ Mirant Corp Posts $39.3 Million Net Income For August
WASHINGTON (Dow Jones)--This information is from Mirant Corp.'s (MIRKQ) monthly operating report for August, filed Oct. 17 with the U.S. Bankruptcy Court in Fort Worth, Texas. Monthly operating reports must be submitted to the bankruptcy court by companies under Chapter 11 bankruptcy protection, such as Mirant. CONSOLIDATED INCOME STATEMENT =----------------------------- August ------------ REVENUE Generation $ 801,850,610 Net trading revenue 23,312,809 Distribution 41,955,652 Other 2,986,856 --------- Gross margin 870,105,927 OPERATING EXPENSES Energy cost 669,799,850 Operations & maintenance 47,440,397 Depreciation & amortization 30,238,760 Selling, general, & administrative 33,836,336 Gain on sale of property & investments (12,194,979) Impairment loss 61,741 Restructuring costs 195,476 ------- Total operating expenses 769,377,581 Income before nonoperating income & expense 100,728,346 OTHER INCOME & EXPENSES Interest income 1,024,348 Interest expense (11,953,665) Equity in income of affiliates 2,408,162 Other (1,013,211) Reorganization items (9,583,721) Minority interest (4,655,168) Net income from discontinued operations (897,022) ------- Total other income (24,670,277) Provision for income tax (36,788,994) ---------- Net Profit $ 39,269,075 ========== CONSOLIDATED BALANCE SHEET =------------------------- August 31 -------------- ASSETS Cash and cash equivalents $ 1,386,878,857 Accounts receivable (net) 2,491,238,466 Assets from risk mgmt activities 202,660,922 Derivative hedging instruments (127,339) Inventories 273,178,452 Other 314,284,474 ----------- Total current assets 4,668,113,832 Property, plant & equipment 6,592,079,557 Less: accumulated Depreciation / depletion 697,814,314 Leasehold interests (net) 1,604,656,493 Construction work in progress 286,894,753 Investment in suspended construction 703,950,413 ----------- Total net property, plant & equipment 8,489,766,902 ------------- Investments 201,884,396 L/T accounts receivable (net) 15,877,609 Notes receivable (net) 95,715,923 Assets from risk mgmt activities 219,421,307 Goodwill (net) 2,677,988,851 Other intangibles (net) 517,113,557 Derivative hedging instruments (3,535,633) Restricted cash, noncurrent 50,625,880 Other long-term assets (87,389) Miscellaneous deferred charges 692,554,186 ----------- Total noncurrent assets 4,467,558,687 ------------- Total Assets 17,625,439,421 LIABILITIES & EQUITY POSTPETITION LIABILITIES Debt 1,926,515,340 Accounts payable 1,423,677,207 Liabilities from risk mgmt activities 1,231,687,930 Obligations under energy delivery commitments 638,781,187 Derivative hedging instruments S/T 6,567,239 Other 55,918,853 Miscellaneous deferred credits 1,346,537,576 ------------- Total postpetition liabilities 6,629,685,332 Total prepetition liabilities 7,442,787,618 ------------- Total Liabilities 14,072,472,950 EQUITY Minority interest in subsidiaries 267,696,667 Mandatorily redeemable securities 345,000,000 Common stock 4,056,621 Additional paid-in capital 4,917,963,428 Retained earnings (1,927,330,567) Treasury stock, at cost (2,260,000) Accumulated other comprehensive income (52,159,678) ---------- Total Equity 3,552,966,471 ------------- Total Liabilities & Owners' Equity $ 17,625,439,421 ===============
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