UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 18, 2002
AGL RESOURCES INC.
(Exact Name of Registrant as Specified in Charter)
Georgia |
1-14174 |
58-2210952 |
(State or Other Jurisdiction Of Incorporation |
(Commission File No.) |
(IRS Employer Identification No.) |
817 West Peachtree Street, NW, Suite 1000, Atlanta, Georgia 30308
(Address of Principal Executive Offices) |
(Zip Code) |
(404) 584-9470
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Item 9. Regulation FD Disclosure
AGL Resources Inc.'s selected unaudited financial information for the twelve months ended December 31, 2001 and 2000 and for the six months ended June 30, 2002 presented to reflect the change in the Company's fiscal year end from September 30 to December 31and the adoption of EITF Issue No. 02-03 "Accounting for Contracts Involved in Energy Trading and Risk Management Activities."
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AGL Resources Inc. |
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Selected Financial Information |
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For the Twelve Months Ended December 31, 2001 and 2000 |
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and For the Six Months Ended June 30, 2002 |
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(in millions of dollars) |
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(unaudited) |
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Distribution |
Wholesale |
Energy |
Consolidated |
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Operations |
Services (2) |
Investments |
Corporate |
AGL Resources |
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For the Three Months Ended March 31, |
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Revenues |
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2001 |
307.9 |
12.6 |
3.8 |
0.3 |
324.6 |
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2000 |
140.3 |
- |
14.3 |
5.5 |
160.1 |
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Operating Margin |
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2001 |
164.6 |
12.4 |
3.8 |
0.3 |
181.1 |
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2000 |
120.6 |
- |
8.7 |
0.1 |
129.4 |
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Operating Expenses |
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2001 |
98.3 |
1.7 |
6.1 |
0.7 |
106.8 |
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2000 |
85.1 |
- |
9.8 |
(3.0) |
91.9 |
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Earnings Before Interest and Taxes |
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2001 |
67.2 |
10.0 |
30.3 |
(0.7) |
106.8 |
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2000 |
36.5 |
- |
10.3 |
3.1 |
49.9 |
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Distribution |
Wholesale |
Energy |
Consolidated |
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Operations |
Services (2) |
Investments |
Corporate |
AGL Resources |
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For the Three Months Ended June 30, |
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Revenues |
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2001 |
168.3 |
(0.8) |
- |
(0.1) |
167.4 |
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2000 |
125.9 |
- |
6.2 |
(0.3) |
131.8 |
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Operating Margin |
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2001 |
139.6 |
(0.8) |
- |
(0.1) |
138.7 |
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2000 |
114.6 |
- |
5.8 |
(0.2) |
120.2 |
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Operating Expenses |
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2001 |
97.5 |
1.7 |
1.2 |
(2.8) |
97.6 |
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2000 |
75.4 |
- |
7.9 |
(1.5) |
81.8 |
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Earnings Before Interest and Taxes |
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2001 |
44.5 |
(1.4) |
(5.5) |
0.4 |
38.0 |
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2000 |
39.5 |
- |
(3.7) |
0.8 |
36.6 |
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For the Three Months Ended September 30, |
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Revenues |
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2001 |
152.5 |
(0.2) |
1.2 |
0.6 |
154.1 |
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2000 |
125.3 |
- |
3.9 |
4.0 |
133.2 |
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Operating Margin |
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2001 |
129.4 |
(0.2) |
- |
0.6 |
129.8 |
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2000 |
113.7 |
- |
3.4 |
1.1 |
118.2 |
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Operating Expenses |
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2001 |
91.2 |
2.7 |
0.2 |
(7.2) |
86.9 |
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2000 |
81.5 |
- |
6.8 |
1.5 |
89.8 |
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Earnings Before Interest and Taxes |
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2001 |
41.6 |
(5.5) |
(10.1) |
4.9 |
30.9 |
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2000 |
36.4 |
- |
6.1 |
(3.4) |
39.1 |
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Distribution |
Wholesale |
Energy |
Consolidated |
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Operations |
Services (2) |
Investments |
Corporate |
AGL Resources |
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For the Three Months Ended December 31, |
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Revenues |
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2001 |
194.4 |
6.5 |
0.4 |
(0.3) |
201.0 |
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2000 |
285.6 |
- |
4.2 |
5.0 |
294.8 |
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Operating Margin |
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2001 |
146.0 |
6.1 |
0.1 |
(0.3) |
151.9 |
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2000 |
158.8 |
- |
4.2 |
1.0 |
164.0 |
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Operating Expenses |
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2001 |
89.1 |
2.7 |
1.8 |
3.7 |
97.3 |
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2000 |
99.9 |
- |
5.4 |
3.4 |
108.7 |
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Earnings Before Interest and Taxes |
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2001 |
59.8 |
3.4 |
3.6 |
(4.5) |
62.3 |
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2000 |
59.9 |
- |
6.6 |
(6.0) |
60.5 |
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For the Twelve Months Ended December 31, (1) |
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Revenues |
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2001 |
823.1 |
18.1 |
5.4 |
0.5 |
847.1 |
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2000 |
677.1 |
- |
28.6 |
14.2 |
719.9 |
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Operating Margin |
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2001 |
579.6 |
17.5 |
3.9 |
0.5 |
601.5 |
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2000 |
507.7 |
- |
22.1 |
2.0 |
531.8 |
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Operating Expenses |
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2001 |
376.1 |
8.8 |
9.3 |
(5.6) |
388.6 |
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2000 |
341.9 |
- |
29.9 |
0.4 |
372.2 |
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Earnings Before Interest and Taxes |
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2001 |
213.1 |
6.5 |
18.3 |
0.1 |
238.0 |
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2000 |
172.3 |
- |
19.3 |
(5.5) |
186.1 |
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Distribution |
Wholesale |
Energy |
Consolidated |
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Operations |
Services (2) |
Investments |
Corporate |
AGL Resources |
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For the Three Months Ended March 31, 2002 |
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Revenues |
260.6 |
8.6 |
0.1 |
- |
269.3 |
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Operating Margin |
163.6 |
8.6 |
- |
- |
172.2 |
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Operating Expenses |
94.9 |
2.8 |
1.7 |
1.4 |
100.8 |
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Earnings Before Interest and Taxes |
71.4 |
5.8 |
24.7 |
(1.6) |
100.3 |
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For the Three Months Ended June 30, 2002 |
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Revenues |
157.9 |
0.9 |
0.4 |
- |
159.2 |
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Operating Margin |
133.7 |
0.9 |
0.2 |
- |
134.8 |
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Operating Expenses |
88.4 |
3.2 |
1.9 |
1.4 |
94.9 |
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Earnings Before Interest and Taxes |
47.6 |
(2.3) |
(3.4) |
(1.7) |
40.2 |
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For the Six Months Ended June 30, 2002 |
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Revenues |
418.5 |
9.5 |
0.5 |
- |
428.5 |
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Operating Margin |
297.3 |
9.5 |
0.2 |
- |
307.0 |
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Operating Expenses |
183.3 |
6.0 |
3.6 |
2.8 |
195.7 |
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Earnings Before Interest and Taxes |
119.0 |
3.5 |
21.3 |
(3.3) |
140.5 |
Notes to selected financial information.
1. Selected financial information presented to reflect AGL Resources Inc.'s change in the Company's fiscal year end from September 30 to December 31.
2. Wholesale Services' revenues for 2002 and 2001 were restated to reflect the adoption of EITF Issue No. 02-03 "Accounting for Contracts Involved in Energy Trading and Risk Management Activities." EITF 02-03 requires all energy-trading entities within the scope of EITF 98-10 "Accounting for Contracts Involved in Energy Trading and Risk Management Activities" to present gains and losses from energy-trading activities on a net basis. Wholesale Services was established during 2001and had no results in 2000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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AGL RESOURCES INC. |
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(Registrant) |
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Date: October 18, 2002 |
/s/ Richard T. O'Brien |
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Executive Vice President and Chief Financial Officer |