~t. ElLIRON INCOME BEFORE It~ERE81 & TAXES BY BUSINffSS UNW QLibmd0,flus.ezoq*.upct.d~ ti3nsmIflIoIt & Dislalbudon tvon TtanspMalfon seMoes Poalind Gene(~ Total Transmission & Wstflbution WhdIonle Eno~y Opemliens & Services. NoTh A,llelIca Europe Global Ma,*els kidustisi Mar*MS Etron NetwO*s ku(hMiedcc CmnlralAIiorIce. DR & Jamaica San Juan Gas APACIlI Bigrnoeilng&Gonsimdlon EnToil Global Ffiianco Em~n Global E&P He Pam Corp a%yihrns Sfrvdtwed Trensa cOons (Tomas) I5,tpays Reds,, to'trom Cocp RedeasbEES Enroit Broadband Sestes Total Wholesale Enrgy Opt. & ServIces Enron Energy SewIces Otner Reels,. from Vitolesal IuITOTI Energy Services Enron Broadband Services Coportto a,d Oiler tnn Renewable Energy Corp Sloan Fuch Race Enroi~ Inveatnent Pa,lnen Corporate & OtorEx~ensss 6h,4u,td 1)nnseflna Roan lswf4o Wholesale 'Totultotpomt,&OTher OvervIew INCOME BEFORE £147.. MI. & INC. TAXES Interest Expnse Net DNMe,,ds on Frefesred Slooft of Subsldfls Mklo*lrdrrost PRE4A3( INCOME - luicome Tax EWSIISO FEET INCOME - RECURRING Wiltewtig DIvidends NET INOOME-RECUWRING NET INCOME - NON.RECURRING NET INCOME DILLITEDEPS. Nosi-reoi~n1ng TOTAL DILLJlED Efl Avg skten o w,dmg - Dibtod EffedNeTwRsls-R.curdnoEnbrn. 2000 FowihOta Soncnt .. Adjusted., 3rd Cd A41'ati,eC .fr~5!L Updates Foment 103.2 1032 - 103.2 5±0 33.3 85.3 - 85.3 155.2 -~ 33.3 198.5 - 188.5 SSA 43.3 34.7 20.4 15.0 ~195.8 39.8 (0.1) 220.0 SI.? 5.0 9.2 (157.5) (44.1) 315.1 75.0 34.7 30.0 21.2 35.3 (72) (0.1) 37.4 .r - *QtS) 17.0 20.5 (3.5) 17.0 13.8 30.0 43.8 12.1 17.5 50 - (12.7) (12,7) 45.0 , . (29.0) (2.0) 01.0) (37.0) 33.8 t. (12) - -~ -~ 604.8 91.5 6954 2.0 87.0 __________ 39.8 (31.7) (19.4) 26.3 (Its) 13.0 15.0. -s 15.8 13.0 3.2 $7.0 '(31.7) (3.9) (28.3) 26.3 (1.3) (14.4) (0.9) - (0.)) * 11.9 (75.6) 2.7 - 2.7 (944) -. .2 (03.2) 120.0 (120.0) __________ 693.? 3.2 - 838.3 3.0 245.7 * - - 15.4 ___ 52 400.5 * 8~0* A 6.1 305.7 2417 19.4 38.0 392.6 93.0 299.6 265.0 580.1 (30.0) -< 75.0 .4.7 - . --3M. - 212 (40.0) (0.7) - (7.3) < (0.1) 17.6 17.0 43.6 29.6 (It?) .45.0 01.0) (3.2). 195.0 2 (15.0) '7912 ~16.8'. 18.0 ti 37.0 (31.7) A~~) 26.3 (14.4) (0.0) (125.6) 2.7 (143.2) 145.0 841.9 240.7 194 - -' .20.2 145.0; 645.0 103.7 190.6 414 347.1 299.8 -.6.1 305.? 41.4 347.1 $ 233.0 $ 8.1 5.305.? - t $ 024 $ 0.01 $ 0.33 .4.=J~. ±J~2L ~ 832.9 675.5 .4.' 23.TIG $ (285.7) $ 39.0 $ 0.05 23.7%. - - - 8 0.40 $ MS 078.3 .35.4, ins. 95.8 105.8 232.2 69.3 .41.8 r t 50.1 11.2' 19.2 (2.1) 1.9 11,1 (2.9) (1±2) sos 252.9 10.3 f24~ 7.9 (Ito) Its (6.1>- 314 (27) (43.S~ Its 14~7 0.8 as 118.6 .' ~92 42.0 ~7. 35.5 255.2 10.3 .239.9- $ 239i ~$ .0.31 $ 0.31 780.7 * 12A%* (50.0) (50.0) IMENTI ~c oBi§i1'58 * EXHIBIT I 144671 CA * covass Gnvth .754 3749' I. 109% WA 4. I, 30% A *~-r~ ~ -. ENRON INCOME BEFORE INTEREST & TAXES BY BUSINESS UNIT QSw~ ci OcEan, .*cwta tnt) - Potefli *Ad~usted Forecast _______ .~ Forecast Tmnsmlsslon & DIstrIbutiOn Emo~ Tnnspcrtsfion SeMces Portland Geners! Tots? TransmissIon & blsfrfhutlol, WboIosaIe Eneiw Opentloflt & SBIVICOS North Mt~ Euiops Globe! Mafltetz Industrial Markeb Earn Netnlch. South M,eitoa lads APACHI Englneedn~ & Coasbuotlen twa Global Fkmance Enro,i Global S8P Prepays - O~. Total Wholesale Energy Opt. & Services Enmsi Enort Smvices Minority Intarest hi EU Redass Inn Widesalt -. Enrol, Energy Srvlces Enron Broadband ServIces Corporate and Other Enron Renewable Enemy Corp Clean Fuels Emna Inveetnent Pwmcrs Corporate 4 Other E,mpenses Strudjired Trensacilons Other. Total Oorporate& Other Overview. INCOME bEFORE TNt. RU. & INC. TAXS 103.2 as 188.9 315.1, ISA 34.7 30.0 21.2 59.3 (40.e~ (7.3) - 17.9 - 17.0 - 43.8 *. - 29.6 (31.0) N' - 11.0 - 598.3 135.0 * *15.8 - * 'ta.o - * 2.2 - 37.0 . . - (31.7). (23.3) 28.3 (14A) (0.9) 03.6) 2.7 (93.2) a? (50.0) (1412) iAS.e 841.9 Interest Expense, Not ~246.7 * -. OMdends on Profaned Stodc of Subsidlainles' 10.4 ,. - MInority Interest 30.2 - WE-TAX INCOME 4005 145.0 Inenme1~cExpeuiso - ?WT INCOME- RECURRING Whltewing OMdends NET INcOME. RECURRING * . NET INCOME - NON-RECURRING Y NEIl N~OlUlE DILUTED EPS Reaming Nomecmjning Diftila WE Avg tarn. otfltan*g . EffedweTex Rats. Recuffbm Earohip 94.9 103.7 * 305.? * -5 0.35 $ 0.05 __________ (0.25) $ 0.35 C 876.5 414 347.1 - (308.0) 1 3471 23.71~ ore eon veilva7wm~n4~d4ta~.n *.R*, P1 cOCa 484 Pd I. Font!. Quarter 2900 * *'± 00 vs 99 Cr8541, It. - .103.2' -4 88.3 - 4. 1883 288.0 (30.0) '6~ 580.1 ISA 4.7 30.0 21.2 (0.7) (7.3) 17.9 17t. 42.8 29:8 (31.0) * 11.0 791.3 * '15.8 18.0 3.2 37.0 (31.7) (28.2) * 28.3 '(14.4) (128.6) nfl. .5 ~6 .4 (50.0) '1933 Actrel 38,8 232.2 'U 41.9 - 59.1 11.2. 11.1 (3.9) 7.8 813 282.8 10.3 (2.5) 7.8. (19,8) 125 (5.1) (2.7) (43.8) Its ** 48.2 GA 472.9 113.8 19.3 42.0 * 293.7 45.9 258.2 15.3 ft.'., £ flSA 0.34 * $ 0.3'1 780.7 246.7 19.4 30.2 545.8 mae 347.1 374,4 6 -Irk ins 88% :4% 50% 414 305.7 * $ 306.7 $ 414 = - 6~ 1 0.40 r4~. * 876.5 MA 3&4~ .4. 12.14~ / ECOO1gIij5g '6' 4 ENROl'S ~OME SEFORif INTEREST & TAXES BY BUSINE&. UNIT (LWoro of 00851% e~ - nS~ 2000 Traflsn,lselon & Usb1b~ztIon Enron TransportatIon Seitas Portland Genera] Reclass torn Corporate Total TvansmThsloD & tistlbullon Wholesale Enei~y Operations & Servicos North America Global Mmlcats Induatfol MariwLo EnroD Networks Sout~ America India CALMS Son Juan Gas APAC H I EngIneerIng & ConsbiictIon Enrori Global Finance Enron Global SW ACES Now PowerCorp Structured Transactions (Towns) 'PrspSyS Reelses to Corp & 558 Other Total Wholesale Eneyw Opt. & Services Enron Energy Services Odior Rodeos from Wholesale Saran Energy Services Ecron Broadband Services Corporate and Other Axwtc Enror, Renewable Energy Corp Gloss, Fuels Resca Enron Inveatniont Partners Corporate & Other Expenses Shucturod Transactions Redasa to Wholesale & FOG Total Corporate & Other ~~~Y*I Year Forecast Adjusted Plan. Update Forecast Adbmt,rer~ Forecast 391.4 304.0 695.4 513.8 198.3 138.3 64.6 (9.6) 334.0 47,6 55.4 (4.3) 15.4 90.0 151.0 19.5 25.0 45.0 (34.6) 9.6 1,675.0 89.6 (12) 88.4 (220) (19.2) 56.9 (13.3) (2.2) (180.8) 41.0 (1232) 34.0 (11.5) 22.8 616.9 59.9 (69.7) (34.8) 4.9 (219.7) (40.8) 6.5 0.3 (121) (43.5) 23.9 30.5 55.0 (139.0) (63.6) (42,3) (58.3) 404.6 19.4 11.6 ISA 391.4 338.0 (11.5) 717.5 1,130.7 258.7 09.8 30.0 (SI) 134.3 7.0 64.0 (40) 5.9 40.5 174.9 50.0 55,0 303.0 (139.0) 45.0 (98.1) (27) (46.1) 2,079.6 70.6 15.2 11.8. 106.8 391.4 336.0 (11.5) 717.9 ±85.0 (30.0) Mo.O) 185.0 (30.4) (60.0) (50,2) (69.4) (20) 54.9 (1.61 (14.8) 0.6 (96.6) ItO 12.0 (125.2) (1.4) (2Th6) 57,6 2.4 (2424) tass.v 258.7 39.6 30.0 (5.1) 94.3 7.0 64.0 (4.0) 5.9 48.5 174.9 50.0 66.0 joa.0 (139.0) 45.0 (68.1) * (2,7) (48.1) - 2,214.8 76.8 18.2 11.8. 106.8 (60.01 - (69.4) - 54.9 - (14.6) (50.0) (60.0) (1.4) (327.6) 57.5 2.4 (2984) 98.1 (9841 INCOME BEFORE IN?., Ml. & INC. TAXES latest Expena~ Net Dividends on Preferred mode of Subsldlaites MInorIty Interest PR&rAX INCOME income Tax Expense NET INCOME -RECURRING Wwtewlng DMdenas Nfl INCOME. RECURRING NON.RECURRIt4G TOTAL. NET INCOME DILUTED EPa Recurring Non.reotJnmn~ TOTAL fllLLflSD EM Avgulmtescutstsrrdlng -ODrMd EffectIve Tax Rate - Rocijrflng Earnings 2,404.1 191,8 2,595.9 141.0 2,740.9 703.1 76.8 120.5 1,103.7 330.6 1,172.9 - 147.4 1.0 * 18.0 24.4 I~6,9) 51.4 850.5 77.9 139.4 1,626.1 303.9 1,2±42 141.0 103.7 414 850.5 n.e 13 9,4 1,873.1 407.5 1,268.0 80.0 (80.0) -. - 1,224.2 S 1,112.9 $ 111.4 $1,224.2 $ 1.38 $ 1.38 riir 6074 not' $ 0.04 r 1.42 $ 142 655.1 19.9% 414 1,265.6 (208.0) $ 957.8 $ 0.04 $ 1.40 a 855.i - 24.4% 1999 Actial 379.9 * 308~5 986.4 502.8 102.5 210.0 10.8 81.8 * (8.8) 17.1 * 82.1 135.3 14.5 16.0 113.2 1,517.3 (69.4) 3.7. -S 644 24.1 66.5 (25.1) 24.3 (5.0) (179.7) 24.4 60.7 (19.8) 1,881.6 654.4 75.0 * 135.3 * 1,118.9 169.0 966.9 40.9 SOLO. (64.1) $ 843.9 $ 118 r4~ 118.0 0ev. 03 Gmsth 8% 73% * 285% a 30% 80% 32% 2414 e~.artdOfle~ottraTIww.ns.~.,ff.~ - a ________________________ am 0'10 MC 001917160 14.2% Exploration & Production Overview ENRON moose onro atrrassr & TAXES BY iijstnua wart Tmnsdnkn S OlfllhtltOA En~GnF~,a0r~p Palt,4 061,8921 TIM TitnsmTssbl & OtttuUon ~Thote,a0. Energy OpnUons S S,vfea, oar 0chti Mate Ezuunfl.twmts Sat Anla rhaa APA0II &mgllCOhViq& co,flr*n Erron Global rbmac. GIt4fl,p Intemnalonsfl puce pasted cost. e~ tnbntas Rdgn lo~O~ Corp 8C1SS8 bEES R8orgnthnUonts$7311d613 -fl~. Total VJ2,ol.nOa Swrgy Opts Sante., 3mm Lotaw Santa M~u41y khna1~S RtdaSz bat EkpIottUdt, & PIfldUCtlOfl Corporate end OTher Axe Eson Siamese Energy Carp Mkaswty IaenI 1, FREt a~ F~ #Ofl Corpora 3.0ThavL~.mea S$8jcb'fld Tnanctn. Rodais froidlo TaO R.duaftosmohfl Total Coiptte & Other or-I- UcOMS SesOSla lit., 5.5. & IWO. tneS 4 WsntE,p.,s3.K$8 OMients oi, Ptfln94 Stoat dStMflS PM-TAlC iSCOME I bnqtTuBrpe.ma A tYinOOME .JiECUR33NO UTRtCOME atanOauaveDNrdM*,MS n. lOYAL NEIINCOSO aflordIMly. put a. osunvn opus lOYAL DArnED Opus ad FflfleTaRC .Rbo,otw Eanilaga 1st 008118, I 2580 1990 AaS 121.9 1274 1±0-2 110* *5., 91.3 I 157.5 1~S 126.0 *'*y 80.7 at 50.9 38.1 - (14.2) (2.4) - 37.0 38.2 38.5 11.4 Ga (3.0) 25.7 7.3 14.1 (4.3) (4.4) 28-1 3.4 4.2 tO 1044 373 42.0 4.1 3.7 - (4.6) go) 9.8; - . ste' (273) (8.9) - 11.4 2.4 (45.1) 484 ,. -- - 1.7 - I 11.0 - -. 413.7 iiir IIIJ &~ (3167 0.2 - t.rl 8.8 -~ ~ ~ () (ItO) Itt' (84 (24 to 1±5 15.8 11,4 (04 *. (1.5) 1.2 (0.3) (5.51 (IOAI (04) (1.4) - (47>3) (453) (37.3] 4* 16.0 7.0 II., 044 - 624.0 . 607,4 83±? 161.3 104.0 174.8 18-0 19.2 10.9 340 ~ iai 334.8 208-7 72.2 50.9 01.3 3372 307.9 258.4 15.0 - nsA 292.9 243.4 337.5 232.5 122i4 040 oS o.s4 - ala, 858)' flU 744.6 -3080 A - A 774 40.1 62.0. 04.8 72.3 103.5 125.5 331.2 567.8 167.4 84,5 24.2) 25.8 @4 272 67.5) (2~o - 391 39.0 AlA (4.4) 8.0 (33] 21.8 22.1 17.7 (6.0) (1.3) 42.42 (1.5) 0.4 (3.0) 18-3 10.2 Itt 23.8 37.7 11.0 1.0 1.0 (10.5) (2.0) 19.2 - - 0.1 (17.6) 49>7) 2.7 2.4 10.2 * 0.3 - (17.5) - 18.0 437.9 342.3 340.2 25.3 - - 10.0 (20.2) (0.1) 1.6 10.8 (20.71 Ito) (0.2) 19.5 (19.8) (8.4) 42.7 13.4 9,8 29.9 - ~U) (3.41 9.8 2.9 (53) - - (5.7) (12) (6.5) (1.52 433.9) (45.6) (08.43 424 15.0 7:1 .J~±Th ...2a. 00.2) 13.2 (31.1) (1*) - 1454 800.8 552.7 4845 1054 1734 4744 20.8 19.2 18.0 38.8 29.4 22.6 351.3 . 330.7 . 2515 845 72* no in.. 222.5 2804 2419 201.7 -a 2077' 0.04 041 alt iw SUdL $82.0. 744* 77241 ard0uuro.e .'- 7 83.8 BOA 84.5 73.9 50.4 52.4 119.0 148.9 127.5 150.3 51.5 50.0 19.2 (114 34.4 44$ (44 42.4) 18.8- 65.0 02.8 7.3 0.3 2.0 18* -57.0 10.8 (0.0) (14 (2.4] (52) (12) (1.0] 0.8 32.5 18-I 2.9 57.7 84.3 9.3 8.0 6,7 1321 04 216 59, (28.7) 45.5) (11.0) 2.4 (15.1] (2>03 - 232.5 45.0 026.7 433.3 375.0 38-0 254 (48.7] - PA) . 5.0 30.0 25.0 117.71 (20.0) (3.7) 32.7 4244 (8.4) (0.8] .2,1 8.0 --2.6 * . (0.7) (0.1] * . . (34) 1.1 (0.3) (0.0) (117.0) (48-6) (42.01 52 * 7.9 11.0 ......~PA). 184 (127,2) 156.1) -t--imj 53.2 - 9064 586.8 507,3 347.2 tttt $503 10.7 19.2 18.0 38.5 28-9 33.2 * ~r -iur 72.3 73.8 40.2 291.9 285.9 ~ 1KG 15.0 291.5 248.8 201.5. a. 291.9 246.8 274.4~ 0.34 0.30 0.25 0.09' 0.34 ~j5j~ $ o.~s 4894 MSA . '7.5% 670% 07.4% 182% 678% un 10.5% 212% 1521$ 2000 1930 Format flhn A,tl 1681. 1402 98.6 I ~Z 732 j~A 1DM 229.4 2024 ~1 85.0 89.5 75.0 73.1 413 4.7 33.0 89.0 20.4 - 21.2 (2.4) - (0.21 113.8 59.1 (723 35.4 11.2 PA) 0.0 19.2 - . 0.12 ~ 23.5 tO 17.0 35.1 11.1 43.8 31.0 42.9] 29.8 9.9 7j (10.0) (5.0) (5.2) . - 39.8 (32) - - K- 52.3 28.0 7914 000.3 252.3 45.0 a~ 10.3 i9.0 pa) (64 3.2 . - 37.0 43.0 9* (31.7) 4.1 (202) 04 (19.8) 213 29.8 14.4 - 49.2) (0.5) I. (14.4) (5.2) (3.1) - . 35.5 * efl] (120.4) 4354 (43.57 2.7 15.0 12.8 - -~ ~-3&L (143.2) (4.5) 8.8 841.8 673.2 473.1 2483 1842, 118.8 19.4 19.2 19.3 30.2 31* #0 545.8 442.6 293.2 198.0 91.4 35.5 347.1 345.2 257.7, 13.0 18.8 347.1 338.2 2394 341.1 238.1 2214 0.40 0.40 031 0.40 rir T13T I flit 820.8 720.7 ToW Year 2(00 1830: F~ PItt Acts 391.4 3914 9719 338.0 304.0 ~.8 711.9 890.4 685.4 1.395.? 5139 ~.8 22.7 '98.8 tUB 30.4 130.3 - aG 046 (5.1) (8.0) 94.2 554.0 tiM 7.0 47.8 18.8 640 55.4 85.8 (4,0) (43) (8.9) 5.9 18.4 17,1 48.5 83.0 07.1 174.9 155.0 135.3 50.2 18.5 14.5 (48.1) (LU) 53.4 110.5 (90.1) (34.8) 9.1 94 (75.77 (11.8) 264.0 70.0 10.0 2.2740 1475.0 1.231,3 78.8 898 (00.4) 18.2 81.2) 3.7 It~ - lILt 80.4 65.7 (00.0) 529.5) 844 (69.4) (10.2) 24.1 85.5 83.2 IL) (9.8) (3.3) (8.8] (14.8) (13.31 (28.fl - . 248 (IA) 43.2) -(SO) (WA) (#80.8) (1797) * 57.5 45.0 34.4 -Its , . - 767 8-2 98.1 2,740.0 2.404,1 .1.951.6 810.5 *la.j 8544' flA 78.8 73.0 139.4 120.5 135.3 1,673.1 1.503.? 1,110.91 407.5 330.9 159.0 - 60.0 .43.9' 1,285.8 1.1129 903.0 1,2853 1.112.e 543.3 rtrrvr r~ - - $80.) 8075 778.0 03.4% 670% '2.5% 24,4% not 84.2% 'a- - able rn .0 0' -a, 'Co -8.' -4 -a -a Effective mx Rats. Retuning Earnings aol' 19,9% r ENRON fr...OME BEFORE INTEREST & TAXES BY BUSINE60 UNrT 0RWFar.d0Sn,~nptnad) Total Year trwsmltslcn & DIstribution Boron Timisportadan Ser*os Pwllemd Gan~ Aeclosa from Corporate Total Wansnisslon & DISIYThUUOn Whotasale Energy Operations & Sarviges North An, ciba Europe Olobol Msr*ets ltIdustlai Merl4els Siren Notwuiw. Scull, Ane$~ India CALMS San Juan Gas APACHI Engtneeflng & Construction Emon Giobot twice Boron Global E&P ACES Nov. PowerCorp Rhythms Structured 1'rMsadiooS (Thins.) Prepays RSo.stOorp&EES OThor Total Wholesale Energy Op.. & Service. Enron Energy Services 01kw Redass frool ~Mto1eseIe Enron Energy Services Briton Broadband SaMoos 2000 Plan Forecast 391.4 - 104.0 34.0 - (11.5) 695.4 nfl 513.8 918.9 199.8 59,9 138.3 (68.7) 64,8 (34.8) (8.6) 4.5 354,0 (219.7) 47.8 (40.8) 58.4 8.6 (4.3) 0.3 18.4 (125) 90.0 (43.5) 151.0 23.9 19.5 30.5 - 55.0 278.0 (i39.0) (63.6) (1±3) (38.3) ____________ 404.6 28.0 46.0 (34.8) 9.8 1,676.0 63.6 (1.2) 88.4 (12.6) 10.4 11.8 18.4 391.4 338.0 717.8 t.130.7 258.7 69,6 30.0 (5.1) 134.3 7.0 64.0 (4.0) 5.9 44.5 174.9 50.0 * 55.0 303.0 (139.0) 45.0 * (gal) * (±7) S 2,079.6< 76.8 18.2 11.8 106.8 Forecast Adjusted ~1li~e Po~ cast - 391,4 * 338A - (11.5) - 717.9 265.0 (30.0) (40,0) flu (29.6) (34.4) (80.0) Exploration A Production Corporate and Other Ereon Rerlewablo Energy Corp Clew, Fuels Resco Sown tnvestn,ent Pgrtncrs Corpora & Other Expenses Loveland Tmnsactlons Reclass to Waclasslo & P6(3 Total Ootporste S Other (19.2) (50.3) 58.9 (2.0) (13.3) (1.5) (180.8) 45.0 (123.2) Ovontew * 0.8 (88.8) 124 1±0 (1a~ (69.4) 54.9 (14.8) (1.4) (277.8) 57.5 24 (2484) (50.0) (50.0) 98.1 (98.4) INCOME BEFORE IN?., MJ. & INC. TAXES Interest Expense. Nat Dividends oil Preferred Stclcotsub.Idbfles Mbtolty Interest PRE-TAX IN COAlS Income 7w Expuiso NET INCOME. RECURRING WNtow*ig DMdonds NET INCOME -RECURRING HOWRECURRING TOTAL NET INCOME Dll4flEO BPS Non-reounfng TOTAL DJLtJflD BPS 2,4041 191.8 2,595.9 145.0 2,740.6 703.1 78.8 120.5 1,103.7 330.8 1,172.5 147.4 830.5 1.0 77.8 184 139r 24.4 1,9284 305.6 51,5 1,224.2 * 80.0 - 1,112.9 1114 1,224.2 $ 1,112.9 1 1114 8 1,224.2 = = I US S 0.04 $ 1.42 145.0 103.7 41.4 414 * 41.4 $ 0.04 $ 1.38 $ 0.04 $ 1.42 --- Avg ahurs. odstar,dng -CUed O.tsaflrunrcvOWCrwtsqftnas nnvsm~ "4 EC 801917162 1999 Moan? OO'rfl9 379.9 308.5 6854 1,395.7 256.7 39.6 30.0 (5.1) 94.3 7.0 64.0 (4.0) 5.9 48.3 174.9 54.0 55.0 303.0 (139.0) 45.0 (96.1) (±7) (48.1) 2,274.6 76.8 16.2 11.8 108.8 (60.0) 502.8 182.6 210.0 10.6 61.8 (U) 17.1 9±1 135.8 14.5 16.0 113.2 1,3172 (49.4) 3.7 -s 73" 253% - (GSA) - 54.9 - (14.8) (1.4) (327.8) 57.5 2.4 (2984) 644 24.1 55.5 (25.1) 24.1 (5.0) (179.7) 34.4 50.7 (ISA) 850.5 77,8 139,4 1473.1 407.5 1,285.8 .1,285.6 $ 1,265.6 4 1.46 $ 144 885.1 244% 38l~ 50% 22% 24% 1.981,6 654.4 76.0 135.3 1.1153 158.0 865.9 48.0 008,8 S $ 843.9 $ tAB 761.0 14.216 ENRON INCOME BEFORE INTEREST & TAXES BY BUSINESS UNIT - PhlZgmtOdla%ixoqt.srde4 4 Fotarift Qusitar TransmIssion & Dlsfrlbutlon Baron Trmnspcrtaflon Settee Portend General Toni TransmIssIon I Dlsblbtitlon * Whorente tergy Operations & Services NortiAmertce $ Europe - Global Ma*els rndustM MarRots Enron Networks 'flout Ame,lca ISis APACHI S ~ngh¶eeflng&Constnzctn Stun Global flnanoe * Swan Global 24? * Repays Oter Total Wholesale Energy Qps, & ServIces Enon Energy Senloes Mkiorfij' Interest In ESS * Redass km tMtelessle Enror, Energy Setyftes - Enron Broadband ServIces Corporate and Other Azur~c ~rion Renejabie Energy Corp Clean Fuels Stun tnwstm0it Farmers Corporate 4 Other E~enses Strudand lhnsa~wis 00w Iota? Corporate & Other Ovenlew INCOME BEFORE irsr., M.L &tNC. TAXES interest Expense, Net Idonts on Pnfenud Steclcot&ztsldlates Minodly Interest - It INCOME lnwne lax t~ense INCOME-RECURRING Wilewng Dividends tJET INCOME CILUISO EPS Mg siws naln~ - Quad 4 Em,ctlve Tax Rate- R&curnlr~ Earn h~ga Forecast I-.. 103.2 86.8 188.5 1000 ~Menuai - Adjusted Eanilnas . Forecast 318.1 255,0 75.0 - 34.7 (30.0) $0.0 - '212 - 38.2 t(40.0) * (7.3) - * ¶7.8 - 17.0 43.6. - * 28.8 * (31.0) - .11.0~- _____ 698.5 4, 185.0 .4- 16.6 - * *. 18.0 - 3.1 - 3r.o - .¼01.fl - (25.3) * 25.3 (14A) (78.0) 2.7 * '(012) 098.$ 249,7 ISA * - 30.2 400.6 * O4~0' 306,7 (50.0) (60.0) ~ 148.0 148.0 103.2 85.3 188.5 880.1 ~ 78.0'- 4,7 3040 21.2 (0.7) (7~8). 17.0 17.0 43.8 28.6 15.8 18.0 3.2 ito -(it?) -(253) 28.3 (1~) (0.9) * (128.6) A * 3.7 (143.2) 841.9 * 248.7 19.4 * 30.2 548.8 103.7 198.6 41.4 347.t $ 147.1 * 305.7 $ 41.4 n = $ 0.15 878.8 S 0.05 $ 0.40 * RPM 23.7% S414. I 1999 Acne; Actual Q~h 06.0 105.6' at 60.6 41.8 69.1 11.2 1.0 *1I.1 p.9) 7.8 03.2 282.6 10,3 7.8 .7% 4 .4 STAt 4 (18.8) * 12.5 (8.1) (±7) (43.6) 12.8 * 40.2 8.8. 473.4 .4 * -4 78% 118.8 105% It, 410 fI.7 89% .as~ 258.2 :41 9.- .4.44~4 184 $230.8 $ 0.31 . 780.7 ItnI 1/ enn*.tovemcttcwoemuqo.v...i tpe.*smmn 0.44 (II Ifltt 4flPtA .~ 4 ECOO191T16S C *1 UENROP -1 INCOME BEFORE INTERNal & TAXES BY BUSINESS UNIT *9fl.uS0~tfl.d4 TmnmnIsslon & CfsbIbflon Snn litispuldon &nloes poCan4Galemj Total TvmsroIss!on & DIstIbutlon Vdhvtsuta entity Operflon. & SoMees N0~AW0~ gtbe Mwfl% Inflflfl MWRSS 5mm, Ndwu*s SmflAnut~ Cm¶kstAmedce. Oft & Jwnako SanJuan Gas WAcIII Engkni.g & COnS$nJCilOn Eaton OfoWi Ph inc. SmonGlobalEAP New Pan Ow tidrnt4~TmmaSm (Toelos) Redass WOmi Corp tassto EEC avon SiwdItid Swims Ott? TotS Whaloaul, Enoru Ops.&SeMees aI~n twrgy Swyloss Oter Radius fin WKbsaIe Eaton Energy SeMoes Eaton Broadband CaMeos Coq,omfeand 052w, 'an ant Renev4bIe Energy tow don PUS ftesoo ann hwostna,t Partias cerporeta& 0UwE,~nsas Ofldatdfltiuacljons RSSU ItUIttOV4hgGtSOIe Total Ootflrtt.& 0Th.r WOOME BSFORS Pit, Md. & INC. TAXES ~ Net OMdend.on Pretend StotofSubjdIm$es - fl's - PBS-TAX INCOIAE has Ta tpenst NG? INCOME - RECURRiNG WS%*ig OIMer,du NOT INcOME DUllED EM Reatflg NoKeamta TOTAL DILUTED EM Avg litres outilen*~ . CUed 5ff stltve 7w stale. Hemming Entgs Uc.ennan,mvAwwnmM..twnnge.4 $401 *04 MI 2= Pwuust - Aqustud U- 103.2 - 108.2 . - 1052 52.0 333 a" - 85.3 188.2 33.3 IlLS - 185.5 95.1 43* 34,7 2044 15.0 ISLE a... (CA) $744 20.6 13.9 It' 220.0 31.7 0.8 La (187.6) (44.1) (Its) (3.6) 30.0 173 * - . (124 45.0 (29.8) (2.0) 818.1 76.0 34.7 30.0 212 39.8 (74 (0.1) 17.9. 17.0 29.8 (1±7) 45.0 (31.0~ MA -. (3.8) - (12.0) (12.0) _____ SIS 2.6 37.0 32.8 (31.2) (12.4) 26.2 (123) Pu) ($02). 2.1 13.0 12.4 288.0 880.1 - 7&fl (20.0) 4 4.7 - 30.0 21.2 (4.6) (4.2) - (7.2) - , Pt). * ITS 17.0 * as 29.6 (It?) * AU - (21*) - (32) 125.6 . 7913 *15.8 - . .10 A1U tO 31 - 3.2 37* - 87.0 (312) (31.7) (U) (22.3) - (28*) - . as - 26* (1.5) (14.4) - (14.4) (04. -' (OS) (72.8) , (80.0) (128.0 2.7 * 2.7 n.e ($4.4) . 1.2 - (98.2) (50*) ~Ufl~ izoj (120.0) 693.7 . . 3.2 * 145.0 - 841.6 243.7 3.0 242.7 - 240.7 - 19.4 * 18.4 * lt4k~ '~ ~J?A LAa. - 302 192.8 3.9 CU 11W 1UT 62.0 1,9 . 94.8 IotV 08.8 203.6 ~zr i~ir -uir ~r.. ieee .1 n.e 108.6 202.2 do-ag OreMh t -71( 4. 69.8 - 41.8 691 19.2 .13 . 11.1 4. 7.6 *.~ (12.2) Ste lets Ay 10.3 (2.6) 7.8 * (10.8) 12.9. * (64) * 813 * (2.7) * 12.9 14.7 0.9 478.8 118.6 19.6 42.0 a" 101% 'Ta $ , in 108% .4 *-88¶~ 34% - - . - 12.3 A S 2PM -~ .ti~L j..zrz±1trj 4,,j~.i * 0.34 8 0.01 $ 0.35 4 0.08 .1 0440 682,6 * 1795 PU 23.7%. ~.T% * 84% A 4. A. I EC001911164 *8 RILE A S Qal*. A * ~ A A.. vat 1±1% ENRON Wholesale Overpeffomiance (Estimated) Ov¶tneotOollem) Pm Tax Over Target Schedule C reserves $68 1,000 1,066 Less requIred reserves iVA Other transactions Prudency Flint Gas Holdings Culiba 288 100 435 30 '40 670 *~, 195 Possible Oftets Corporate - 50 $ 145 Tax Cushion Net V t O~antQPQ$WQfl4fl0#nat*da*1Onr 1W01434PM V EC 001917165, -V $ EPS After Tax '4. * 123 * 32 ~91 50 $ 41 V .014 o.aa 0.11 0.QB $- 0.08 F. 4