============= Page 1 of 49 ============= Enron Corp Earnings Release Details 3rd Quarter 2001 page Significant IBIT Variances 1 - 9 IBIT Summary 10 Wholesale Buckets Detail 11 - 22 Business Unit Variance Schedules 23 - 34 Calculation of EPS 35 Interest Expense 36 Dividends on Preferred of Subs 37 Earnings Release Support Pages 38 - 41 Statistical Supplement Pages 42 - 50 Distribution: Rick Causey Mark Koenig Paula Rieker Gay Mayeux David Leboe Amin Maredia Mark Palmer cc: Bob Butts Greg Adams EXH066-00474 EC46649AO030192 GOVERNMENT EXHIBIT 4260 Crim. No. H-04-25 (S-2) ============= Page 2 of 49 ============= Enron Wholesale Significant Variances (In Millions) 3rd 320 0~ Diff 2nd 220 Qtr Duff 120011r 120 0tr Diff Comments AMERICAS Gas trading, excl originations (net of expenses) - 45 240 (195) 399 46 353 see summary at (a) 475 192 283 Originations 2 - 2 13 - 13 8 - 8 HPL Canada - 4 (4) - 4 (4) - 6 (6) Bridgeline (4) 7 - 4 (4) 3 - 13 - 3 10 (4) 3 - (7) Other di G T 480 200 280 71 247 (176) 403 55 348 ra ng as Power trading, excl originations (net of expenses) - 152 105 47 (25) 45 (70) see summary at (b) 390 179 211 Originations 25 25 Alberta Power PPA - - - - - - - - 10 (10) - 21 (21) Genco 1 - 1 40 - 40 - - - Pastona Peakers sale - - - 412 - 412 225 - 225 Psco 5 - 5 12 - 12 - - - San Antonio 18 - 18 1 - 32 - - 32 18 2 16 Other power originations (less than $10m) 9 8 243 68 175 Power Trading 423 187 236 648 115 533 Fair valuelother portfolio related income - 4 6 (20) (21) 122 (143) see summary at (c) (59) 235 (294) ) (1 14 6 (20) (21) 122 (143) EGF (59) 235 (294) ) ( Other (143) (86) (57) (63) (71) 8 (95) (6) (89) Total Americas 701 536 165 642 297 345 530 239 291 Revenues 29,519 21,655 7,864 27,083 11,672 15,411 29,286 7,804 21,482 Cost of Sales (28 554) (20,987) (7,567) (26 182) (11,069) (15,113) (28 394) (7,421) (20,973) Gross Margin 965 668 297 901 603 298 892 383 509 Operating Expenses (142) (106) (36) (245) (334) 89 (237) (306) 69 Depreciation and Amortization (53) (24) (29) (50) (27) (23) (29) (22) (7) Equity in Earnings (losses), see summary at (d) (67) 21 (88) 3 41 (38) (63) 169 (232) Other, net, see summary at (e) (2) (23) 21 33 14 19 (33) 15 (48) [BIT 701 536 165 642 297 345 530 239 291 EC46649A0030193 sigvar 3Q01, summary 1 10/16/2001, 3:48 AM EXH066-00475 ============= Page 3 of 49 ============= Enron Wholesale Significant Variances (In Millions) AMERICAS DETAILS per above (a) Gas trading, excluding originations: Canada (gross margin) US (gross margin) Bridgeline equity earnings South America (gross margin) Retail (gross margin) Other (including HPL and expenses) (b) Power trading, excluding originations: NA - East (gross margin) NA - West (gross margin) NA - TVA settlement South America (gross margin) Retail (gross margin) Other (including expenses) (c) Fair value/other portfolio related income (loss): JEDI I and JEDI II Hedging Activities (Stock Book) Condor New Power Co. Hawaii TRS EOG Marlin Expenses - EGF Rhythms (net of hedge amort) Others (less than $15m) (d) Equity Earnings (Losses): JEDI II Enron Capital Management (includes JEDI I) HEOF Whitewing Enron MW Other (e) Other, net: Gain (loss) on sales of various assets Taxes other than Income Interest Income Foreign Exchange gains/losses Other Deductions Other 3 001tr S 0 0tr Diff 2nd 220 0tr Duff 12001tr 120 0tr Duff Comments 3 1 2 547 283 264 (2) 2 2 (2) (4) - (4) (71) (92) 21 475 192 283 (5) 18 (23) 167 269 (102) 3 (3) 8 (8) 12 - 12 (129) (58) (71) 45 240 (195) (9) 18 (27) 526 56 470 5 2 3 2 (2) (23) - (23) (100) (32) (68) 399 46 353 (28) 136 (164) 286 56 230 202 3 199 (70) (16) (54) 390 179 211 2 (9) 11 (20) 26 (46) (6) (16) 10 3 249 (246) (3) - (3) (9) - (9) 3 (3) (16) 8 (24) - (19) 19 (10) (7) (3) (59) 235 (294) (32) 8 (40) - (21) 21 (9) - (9) (39) 35 (74) 5 - 5 8 (1) 9 (67) 21 (88) 5 - 5 20 8 12 21 - 21 (48) (31) (17) (2) (23) 21 363 7 356 333 145 188 5 - 5 (508) (22) (486) (41) (25) (16) 152 105 47 8 19 (11) (2) 15 (17) (15) (5) (10) (1) 52 (53) (4) - (4) (8) 55 (63) 4 4 - (3) (5) 2 - (125) 125 7 (4) 11 (14) 6 (20) 3 55 (52) - (17) 17 5 (5) 10 (5) 8 (13) 3 41 (38) (15) (15) - 19 (19) 39 13 26 1 - 1 8 (18) 26 33 14 19 31 (39) 70 445 91 354 (253) - (253) 9 - 9 (208) 10 (218) (49) (17) (32) (25) 45 (70) (8) 107 (115) (3) 7 (10) (1) (7) 6 (2) - (2) (4) - (4) 3 3 - (8) (3) (5) - 15 (15) 2 2 (21) 122 (143) (22) - (22) (48) 153 (201) 1 16 (15) 6 - 6 (63) 169 (232) 7 - 7 24 (1) 25 (10) - (10) (28) - (28) (26) 16 (42) (33) 15 (48) EC46649A0030194 sigvar 3001, summary 10116/2001, 3:48 AM EXH066-00476 ============= Page 4 of 49 ============= Enron Wholesale Significant Variances (In Millions) 32001tr 32000 Diff 22001tr 220 0 Dill 12001tr 12000tr Duff Comments EUROPE AND OTHER Gas trading, excl originations (net of expenses) - 15 (17) 32 (40) 2 (25) 2 (15) - 6 (1) (16) 2 22 (3) Gas transport revenues 3 2 1 Gas Trading 18 (15) 33 (38) (23) (15) 5 (14) 19 enses) - inations (net of ex wertradin excl ori P 10 55 (45) 142 34 108 134 83 51 g, g p o Power Trading 10 55 (45) 142 34 108 134 83 51 Other items - ETOL Metals Trading Other Enron Global Markets - Coal Weather Other Enron Industrial Markets - Forest Steel Other 17 11 6 51 - 51 11 8 3 (3) 27 (30) (9) - (9) (27) - (27) (55) (31) (24) (111) 37 (148) (43) (10) (33) Other Trading (41) 7 (48) (69) 37 (106) (59) (2) (57) 30 6 24 21 3 18 20 3 17 9 3 6 9 4 5 9 6 3 (19) (15) (4) 4 5 (1) 17 47 (30) Enron Global Markets 20 (6) 26 34 12 22 46 56 (10) Enron Industrial Markets Enron Global Exploration and Production Enron Industrial Markets Other Total Europe and Other (1) 22 (23) 13 6 7 15 3 12 26 - 26 21 - 21 17 - 17 (2) (14) 12 (21) (8) (13) (23) (7) (16) 23 8 15 13 (2) 15 9 (4) 13 18 9 9 16 7 9 16 4 12 18 9 9 16 7 9 16 4 12 5 (5) 10 1 21 (20) 7 3 4 53 53 99 86 13 158 126 32 EC46649A0030195 sigvar 3Q01, summary 3 10/16/2001, 3:48 AM EXH066-00477 ============= Page 5 of 49 ============= Enron Wholesale Significant Variances (In Millions) Revenues Cost of Sales Gross Margin Operating Expenses Depreciation and Amortization Equity in Earnings, see summary at (f) Other, net, see summary at (g) BIT (f) Equity Earnings: Garden State Fishtail CPS Other (g) Other, net: Foreign Exchange gains/losses ICI Litigation Income Metals interest income Loss on disposal of EOG China Ltd Interest Income on various EECC projects Other 32001 3 000tr Duff 22001tr 220 0tr Duff 1 11 1200 tr 120 0tr Duff Comments 16,447 7,168 9,279 (16,139) (6,917) (9,222) 308 251 57 (217) (194) (23) (22) (16) (6) (6) (9) 3 (10) 21 (31) 53 53 - 17,872 3,787 14,085 (17,544) (3,567) (13,977) 328 220 108 (234) (129) (105) (23) (17) (6) (1) 1 (2) 29 11 18 99 86 13 14,201 4,200 10,001 (13,818) (3,986) (9,832) 383 214 169 (231) (79) (152) (21) (18) (3) 17 7 10 10 2 8 158 126 32 (8) - (8) 7 - 7 (14) - (14) 9 (9) 18 (6) (9) 3 (21) 9 (30) 1 1 1 2 (1) 9 10 (1) (10) 21 (31) (1) 1 (2) (1) 1 (2) 9 (9) 14 - 14 7 - 7 (6) - (6) 2 4 (2) 12 (2) 14 29 11 18 2 - 2 (10) - (10) 25 7 18 17 7 10 - 1 (1) 7 - 7 3 3 - (2) 2 10 2 8 EC46649AO030196 sigvar3001, summary 10/1612001, 3:48 AM EXH066-00478 ============= Page 6 of 49 ============= Enron Corp Significant Variances (In Millions) 0 0 Diff Comments 3 2001 320 0tr Duff 2nd 22000v Dill 12001tr 12st Qtr ENRON GLOBAL ASSETS Asset Operations Bahia Las Minas Batangas Elektro [BIT Sichuan Jialing Vengas CALME operations South America operations Expenses Other Equity earnings from: Centragas CIESA/TGS DPC Phase I Eco Electrica Korea (SK) Azurix Transredes CEG/Rio/Gaspart Other international GLOBAL ASSETS EREC TOTAL EGAS 3 1 2 5 11 (6) 17 22 (5) 7 12 (5) 5 9 (4) (13) 3 (16) 10 3 7 (18) (68) 50 (32) (32) (16) (7) (9) 1 1 - 12 9 3 - 15 (15) 1 2 (1) 1 1 - (21) (24) 3 3 (1) 4 5 7 (2) 23 13 10 25 23 2 9 16 (7) 10 3 7 19 19 - 6 1 5 5 12 (7) 17 24 (7) 7 7 - 4 10 (6) 5 4 1 (1) 6 (7) (41) (79) 38 (18) 24 (42) (16) 9 (25) 1 1 - 12 6 6 13 4 9 1 (1) 2 4 3 1 (31) (11) (20) (1) - (1) 4 3 1 3 7 (4) 6 12 (6) (10) 21 (31) 7 13 (6) (3) 34 (37) 4 3 1 5 12 (7) 32 36 (4) 6 - 6 6 8 (2) (5) 1 (6) (2) 7 (9) (46) (84) 38 (2) 9 (11) (2) (8) 6 1 1 - 9 12 (3) 15 16 (1) 6 22 (16) 12 13 (1) (32) (6) (26) 4 - 4 8 (8) 15 66 (51) 13 58 (45) (17) 13 (30) (4) 71 (75) EC46649AO030197 sigvar 3001, summary 5 10/16/2001, 3:48 AM EXH066-00479 ============= Page 7 of 49 ============= Enron Corp Significant Variances (In Millions) 3 Qtr ~ 3 2nd Qtr tr 2 02001 2000 Diff 2000 Dill Transportation Services 137 128 9 121 155 (34) Gross margin Operating expenses (incl deprec) (92) (88) (4) (72) (100) 28 Equity earnings: Citrus 13 19 (6) 11 9 2 Northern Border 3 2 1 2 2 3 EOTT - 5 (5) 1 (2) Other 1 17 2 28 (1) (11) 3 17 1 10 2 7 12 12 Qtr 20 001 1 2 0000 00 Diff Comments 243 205 38 (123) (86) (37) 8 7 1 2 2 - 2 (2) 4 1 1 13 8 5 Other income. Other 23 15 8 11 12 (1) - 1 (1) 23 15 8 11 12 (1) - 1 (1) rvices ti S rt T 85 83 2 77 77 133 128 5 on e ranspo a Portland General Group 83 206 (123) 207 180 27 185 195 (10) Gross margin Operating expenses (incl deprec) (99) (144) 45 (149) (123) (26) (118) (124) 6 Equity earnings - (1) 1 - 1 (1) 1 (1) Other income: - 31 (31) Reversal of acaual far program cancelled Customer Choice - - - 4 1 3 (10) 11 (21) COLI (12) (4) (8) Other 11 17 (6) 3 3 - 3 (9) 12 Other income (1) 13 (14) 7 4 3 (7) 33 (40) Portland General Group (17) 74 (91) 65 62 3 60 105 (45) EC46649AO030198 sigvar 3001, summary 10/16/2001, 3:48 AM EXH066-00480 ============= Page 8 of 49 ============= Enron Corp Significant Variances (In Millions) Retail Energy Services Gross revenues: Gas and power sales Power MTM/Originations Facilities services/Outsource and other International Total gross revenues Cost of sales Gas and power sales Power MTM/Originations Facilities services/Outsource and other International Total cost of sales Gross margin Gas and power sales Power MTM/Originations Facilities services/Outsource and other International Total gross margin Operating expenses (incl deprec) Minority interests (Omicron, EES) Gain on sale of Resco warrants Equity income (loss) Other income Retail Energy Services 3 2001 Qtr 32000tr Diff 220,11r 220 0 Diff 12001tr 120 0tr Duff Comments (7) 161 (168) 151 72 79 259 215 44 98 87 11 501 535 (34) 70 114 (44) 156 101 55 215 141 74 116 65 51 557 421 136 249 62 187 139 35 104 189 138 51 116 79 37 693 314 379 6 (170) 176 (202) (178) (24) (65) (57) (8) (261) (405) 144 (1) (9) 8 151 72 79 57 37 20 33 30 3 240 130 110 (152) (125) (27) - 29 (29) (17) (15) (2) 8 (8) 71 27 44 (69) (113) 44 (188) (131) (57) (71) (51) 20 328 (295) (33) 1 156 1 101 - 55 27 10 17 45 14 31 229 126 103 (179) (91) (88) 20 25 (5) (13) (19) 6 3 5 (2) 60 46 14 (250) (61) (189) (167) (116) (51) (78) (57) (21) 495 (234) 261 (1) 1 (2) 139 35 104 21 22 (1) 39 22 17 198 80 118 (173) (95) (78) 30 20 10 (15) 2 (17) (1) 1 40 6 34 EC46649AO030199 sigvar 3001, summary 10/16/2001. 3:48 AM EXH066-00481 ============= Page 9 of 49 ============= Enron Corp Significant Variances (In Millions) 3rd Qtr 3rd Qtr 2001 2000 Broadband Services Gross revenues' 2nd Qtr 20 Qtr 12 12000 Diff 2001 2 2000 0 Dill 2001 001 2000 Diff Comments Dark fiber and software sales - (16) 16 2 152 (150) Content services and other 7 2 5 5 (2) 7 Contract originations - - - - Merchant investments - 150 (150) - - - Equipment Trading (3) - _3) 9 - 9 Total gross revenues 4 136 (132) 16 150 (134) Cost of sales Dark fiber and software sales - 28 (28) (5) (70) 65 Content services and other (3) (10) 7 (4) (4) - Contract originations - - - - - - Merchant investments - - - - - Equipment Trading - (5) - (5) (13) - (13) Total cost of sales (8) 18 (26) (22) (74) 52 Gross margin Dark fiber and software sales - 12 (12) (3) 82 (85) Content services and other 4 (8) 12 1 (6) 7 Contract originations - - - - - Merchant investments - 150 (150) - - - Equipment Trading - (8) - - - (8) (4) - (4) Total gross margin (4) 154 (158) (6) 76 8~2 Operating expenses (incldeprec) (77) (175) 98 (94) (85) (9) Other income 1 1 (2) 1 (3) Broadband Services (80) (20) (60) (102) (8) (94) 1 48 (47) 64 - 64 4 - 4 (6) 11 (17) 03'00 includes Avici FV increase 20 20 83 59 24 (8) 8 (2) - (2) (27) - (27) (29) (8) (21) 1 40 (39) 62 - 62 4 - 4 (6) 11 (17) (7) - (7) 54 51 3 (92) (51) (41) 3 3 (35) (35) EC46649AO030200 sigvar 3Q01, summary 10/16/2001, 3:48 AM EXH066-00482 ============= Page 10 of 49 ============= Enron Corp Significant Variances (In Millions) 3rd tr 3 2nd Qtr 2nd Qtr 2001 2000 Duff Duff Corporate and Other Corporate (including Cc 099) Corporate expenses and other (103) (105) 2 (52) (35) (17) ECM 49 5 44 (1) 42 (43) EEDC (1) (1) (2) (1) (1) (55) (100) 45 (55) 6 (61) Clean Fuels operations (4) (6) 2 10 9 1 Corporate and Other (59) (106) 47 (45) 15 (60) Total recurring IBIT 773 666 107 793 609 184 Nonrecurring items (aftertax): Azurix impairment (287) - (287) - - - Raptor-Loss on investments (471) - (471) - - - Write off TNPC Equity Investment & Warrants (73) - (73) EBS Write-offs (180) (180) Nonrecurring items (1,011) (1,011) Total IBIT (238) 666 (904) 793 609 184 Interest expense 201 247 (46) 215 196 19 Company-obligated preferred ofsubs 21 20 1 18 21 (3) Minority interests 33 35 (2) 30 39 (9) Pretax earnings (493) 364 (857) 530 353 177 Income tax expense 125 72 53 126 64 62 Income before cumulative accounting changes (618) 292 (910) 404 289 115 Cumulative effect of accounting changes, net of tax - - - - - - Netincome (618) 292 (910) 404 289 115 120 120tr 2001 01 2000 Diff Comments (74) (55) (19) 5 7 (2) (1) (1) (70) (48) (22) (17) (3) (14) (87) (51) (36) 795 624 171 795 624 171 201 161 40 18 18 - 40 35 5 536 410 126 130 72 58 406 338 68 19 - 19 425 338 87 EC46649AO030201 sigvar 3Q01, summary q 10/1612001, 3:48 AM EXH066-00483 ============= Page 11 of 49 ============= Enron Corp. New Segments - IBIT Recurring 2001 2000 1Q 2Q 3Q 4Qestimate * Total 1Q 2Q 3Q 4Q Total 1999 Transportation and Distribution Enron Transportation Services 133.0 77.0 85.0 105.0 400.0 128.0 77.0 83.0 103.0 391.0 380.0 Portland General 60.0 65.0 (17.0) 69.0 177.0 105.0 62.0 74.0 100.0 341.0 305.0 Enron Global Assets and Services: Global Assets (excluding Azurix) 27.4 28.1 39.5 36.0 131.0 77.2 45.0 43.3 30.8 196.3 371.2 Azurix (31.5) (31.0) (21.0) (17.5) (101.0) (6.0) (10.8) (24.3) (61.0) (102.1) 20.0 di A i i l b l A (4 1) (2 9) 18 5 18 5 30.0 71.2 34.2 19.0 (30.2) 94.2 391.2 nc u ng zur x) ssets ( a Enron Glo . . . . rtation and Distribution l T T t 188 9 139.1 86.5 192.5 607.0 304.2 173.2 176.0 172.8 826.2 1,076.2 ranspo a o . WHOLESALE BUSINESSES Americas Gas Trading 403.2 70.6 479.7 98.0 1,051.5 55.1 247.5 199.9 329.8 832.3 (20.6) Power Trading 242.7 647.7 423.4 316.1 1,629.9 67.5 114.9 187.2 106.3 475.9 190.5 Enron Global Finance (20.9) (13.8) (59.2) 55.4 (38.5) 121.7 6.0 235.1 17.5 380.3 132.9 Other (95.5) (62.6) (143.0) (62.6) (363.7) (5.5) (70.9) (87.2) 7.5 (156.1) 188.1 i A 5 529 641 9 700.9 406.9 2,279.2 238.8 297.5 535.0 461.1 1,532.4 490.9 mer cas . . Europe ** 79.6 35.2 (11.7) 111.0 214.1 67.4 47.9 47.3 79.5 242.1 192.0 Other EGM 46.3 34.1 20.4 102.7 203.5 55.9 12.2 (6.3) 32.4 94.2 94.9 EIM 8.8 13.3 22.7 23.7 68.5 (4.2) (2.0) 8.1 92.8 94.7 (6.3) EGEP 15.5 15.5 18.1 15.0 64.1 4.1 7.1 9.2 36.8 57.2 14.5 Other 8.1 0.5 3.5 6.3 18.4 2.9 20.7 (5.7) 21.6 39.5 50.4 Other Markets 78.7 63.4 64.7 147.7 354.5 58.7 38.0 5.3 183.6 285.6 153.5 Total Europe and Other 158.3 98.6 53.0 258.7 568.6 126.1 85.9 52.6 263.1 527.7 345.5 Total Wholesale Businesses 687.8 740.5 753.9 665.6 2,847.8 364.9 383.4 587.6 724.2 2,060.1 836.4 Enron Energy Services 40.0 60.0 71.0 64.0 235.0 6.0 46.0 27.0 32.0 111.0 (50.0) Broadband Services (35.0) (102.0) (80.0) (79.0) (296.0) - (8.0) (20.0) (32.0) (60.0) 139.5 Corporate and Other (86.9) (44.2) (58.5) (58.7) (248.3) (51.3) 14.5 (104.9) (49.9) (191.6) (20.1) Total Enron 794.8 793.4 772.9 784.4 3,145.5 623.8 609.1 665.7 847.1 2,745.7 1,982.0 * Third quarter 2001 based on most recent forecast; fourth quarter 2001 based on second current estimate. ** CATS interest charges and IBIT related to Margeux included in Europe. Buckets 3Q 2001 Markets.xls, 2Q01 Mkts ( o EXH066-00484 EC46649AO030202 10/16/2001, 3:48 AM ============= Page 12 of 49 ============= Enron Corp. Wholesale & EGA IBIT by Market Subcategorv Description 2001 b Quarter 2000 by Quarter F-1-999 I Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 9 MO 3Q 6 mo 2Q 1Q Year WHOLESALE NA North American Energy Markets Gas Trading Canada-Gas Trading (12.2) (12.2) 2.5 (14.7) (5.2) (9.5) 9.3 (27.5) 36.8 1.4 35.4 17.6 17.8 78.8 NA Gas Trading US -Gas Trading 1,239.5 1,239.5 547.3 692.2 166.6 525.6 1,056.1 449.2 606.9 282.7 324.2 268.5 55.7 130.7 NA Gas Trading Credit Reserve - Blue Range - - - - - - - - (33.0) NA Other Trading Domestic Assets (HPL/LRC) (29.9) (29.9) - (29.9) - (29.9) (58.6) (26.8) (31.8) (29.6) (2.2) (5.4) 3.2 (4.2) NA Gas Trading Bridgeline equity earnings 4.7 4.7 - 4.7 - 4.7 7.0 4.1 2.9 (2.5) 5.4 3.4 2.0 - NA Gas Trading Gas Origination [A below] 35.7 - 35.7 4.8 30.9 26.7 4.2 39.9 15.1 24.8 8.6 16.2 7.4 8.8 83.1 WHSEES Gas Trading GasTrading -Retail (14.6) (14.6) (4.0) (10.6) 12.0 (22.6) - - - - - - - SA Gas Trading Gas Trading (0.1) (0.1) (0.1) - - 8.7 (3.0) 11.7 1.9 9.8 8.2 1.6 (1.1) SA Trading Expenses Gas trading expenses - - - (6.5) (0.8) (5.7) (4.1) (1.6) (1.5) (0.1) (2.8) NA Trading Expenses Gas trading expenses (269.6) (269.6) (70.8) (198.8) (129.5) (69.3) (223.6) (80.5) (143.1) (58.5) (84.6) (50.7) (33.9) . (272.1) North American Gas Trading 953.5 - 953.5 479.7 473.8 70.6 403.2 832.3 329.8 502.5 199.9 302.6 247.5 55.1 20.6 NA Power Trading Power-east 366.5 366.5 (27.6) 394.1 363.3 30.8 137.9 34.5 103.4 135.7 (32.3) 6.7 (39.0) 101.4 NA Power Trading Power-west 1,065.2 1,065.2 286.4 778.8 333.5 445.3 396.3 104.4 291.9 55.8 236.1 144.8 91.3 47.8 NA Power Trading Power - SA 14.0 14.0 - 14.0 4.9 9.1 - - - - - - - - NA Power Trading Other (TVA Settlement) (253.3) (253.3) - (253.3) - (253.3) 4.9 4.9 - - - - - (1.0) NA Power Trading Power Originations [B below] 795.5 - 795.5 32.6 762.9 494.9 268.0 49.8 8.6 41.2 8.0 33.2 10.5 22.7 146.0 WHSEES Power Trading Power Trading -Retail (513.2) (513.2) 202.3 (715.5) (507.8) (207.7) (8.0) 1.0 (9.0) 3.0 (12.0) (22.0) 10.0 (18.0) SA Power Trading Power Trading (3.0) (3.0) (3.0) - - - (1.6) (1.4) (0.2) (1.0) 0.8 1.2 (0.4) (1.5) SA Trading Expenses Power trading expenses (6.8) (6.8) (6.8) - - - (1.5) (0.2) (1.3) (0.9) (0.4) (0.3) (0.1) (3.4) NA Trading Expenses Power trading expenses (151.1) (151.1) (60.5) (90.6) (41.1) (49.5) (101.9) (45.5) (56.4) (13.4) (43.0) (26.0) (17.0) 80.8 North American Power Trading 1,313.8 1,313.8 423.4 890.4 647.7 242.7 475.9 106.3 369.6 187.2 182.4 114.9 67.5 190.5 EGF FV/Other Portfolio Related Hedging Activities (24.5) (24.5) (19.6) (4.9) (1.9) (3.0) 53.0 5.4 47.6 26.0 21.6 15.0 6.6 (8.5) EGF FV/Other Portfolio Related Jedi I and Jedi II 2.4 2.4 2.4 - 8.4 (8.4) 171.3 54.9 116.4 (9.5) 125.9 18.8 107.1 53.4 EGF FV/Other Portfolio Related Condor (21.9) (21.9) (5.8) (16.1) (14.9) (1.2) (58.9) (30.6) (28.3) (15.8) (12.5) (5.2) (7.3) - EGF FV/Other Portfolio Related New Power Co. 1.8 1.8 3.2 (1.4) (1.4) - 289.8 (11.5) 301.3 249.3 52.0 52.0 - - EGF FV/Other Portfolio Related Hawaii TRS (8.8) (8.8) (2.5) (6.3) (4.3) (2.0) - - - - - - - EGF FV/Other Portfolio Related EOG (21.2) (21.2) (9.1) (12.1) (8.0) (4.1) 25.9 (29.2) 55.1 - 55.1 55.1 - 43.0 EGF FV/Other Portfolio Related International Cash Management (0.6) (0.6) (9.5) 8.9 6.1 2.8 - - - - - - - - EGF FV/Other Portfolio Related Marlin 6.9 6.9 - 6.9 3.9 3.0 13.8 3.9 9.9 3.1 6.8 3.8 3.0 40.7 EGF FV/Other Portfolio Related PGE Lease Portfolio Monetization - - - - - - 45.3 45.3 - - EGF FV/Other Portfolio Related Rhythms - - - - - - (142.8) (14.1) (128.7) (18.5) (110.2) (125.0) 14.8 34.0 EGF Expenses-Merchant invest Expenses -EGF (27.5) (27.5) (16.4) (11.1) (2.9) (8.2) (52.2) (52.1) (0.1) 8.0 (8.1) (5.2) (2.9) (39.2) EGF Operations Other (0.5) (0.5) (1.9) 1.4 1.2 0.2 35.1 45.5 (10.4) (7.5) (2.9) (3.3) 0.4 9.5 Total Enron Global Finance (93.9) - (93.9) (59.2) (34.7) (13.8) (20.9) 380.3 17.5 362.8 235.1 127.7 6.0 121.7 132.9 EC46649A0030203 Buckets 3Q 2001 Markets.xls, 2Q01 Detail ii 10/16/2001, 12:08 AM EXH066-00485 ============= Page 13 of 49 ============= Enron Corp. le & EGA IBIT b Wh l Market y o esa 2001 6 Quarter 2000 b Quarter 1999 t S b tion D i Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 9 mo 3Q 6 mo 2Q 1Q Year u ca e˘orv escr p NA Other Trading Credit Reserve Adjustment - - - - - 5.0 - 5.0 - 5.0 - 5.0 49.5 NA Other Trading AmortofHPLFV (9.5) (9.5) (2.4) (7.1) - (7.1) (28.4) (7.1) (21.3) (7.1) (14.2) (7.1) (7.1) (28.4) NA Other Trading Other Trading 5.8 5.8 (0.3) 6.1 1.8 4.3 (92.8) (22.4) (70.4) (22.7) (47.7) (30.5) (17.2) (12.0) NA Other Trading Interest on Customers' Deposits (28.0) (28.0) 8.2 (36.2) (10.2) (26.0) - - - - - - - - NA Fair Value income Fair value income [D below] 77.5 - 77.5 (9.0) 86.5 13.6 72.9 (88.5) (0.6) (87.9) (28.3) (59.6) (72.2) 12.6 (1.2) EPI Fair Value income Fair value income [E below] (6.5) - (6.5) (6.5) - - - - - - - - - - - - - - - 136.0 NA Fair Value income Rhythms FV - reclass - - - - - - NA Equearn -FVvehicles Condor (37.5) (37.5) (1.0) (36.5) (13.0) (23.5) 30.5 30.5 - - - - - - EPI Equearn -FVvehicles Condor (23.8) (23.8) (23.8) - - - - - - - EPI Equearn -FVvehicles FV hi l Condor 11 JEDI (26.7) 7) (45 (26.7) (45.7) (26.7) - - (45.7) - - - (45.7) - 203.0 - 88.3 - 114.7 - (20.9) 135.6 25.5 110.1 10.7 NA Equeam- ve c es FV hi l E JEDIII . (35.2) (35.2) (13.8) (21.4) 3.1 (24.5) 63.8 (6.1) 69.9 12.8 57.1 17.3 39.8 91.5 NA NA es queam- ve c Equeam-FVvehicles Enserco (0.5) (0.5) - (0.5) 0.4 (0.9) (6.0) (3.2) (2.8) (3.2) 0.4 (0.3) 0.7 (0.5) EPI Equ earn -FVvehicles Enserco (0.1) (0.1) (0.1) - - - - - - - EPI Equ earn- FV vehicles HEOF 1 (7.8) (7.8) (7.8) - - - EPI Equ earn -FVvehicles HEOF iI EPI Equtam-FVvehicles JEDIII (14.1) (14.1) (14.1) - - - - - - - - - NA Equ eases-FV vehicles Other equity earnings (2.4) (2.4) (2.4) - - - 1.0 1.0 - - - - - 1.6 NA Structuring income Structuring income 3.5 3.5 - 3.5 - 3.5 - - - - - - - 4.6 NA Finance origination Canada 7.1 7.1 0.3 6.8 4.6 2.2 4.3 - 4.3 - 4.3 4.3 - - NA Finance origination Motown 1.4 1.4 - 1.4 1.4 - 12.6 - 12.6 - 12.6 12.6 - 1.8 NA Finance originations TenaskaClebome (0.3) (0.3) 3.5 (3.8) (3.8) - 20.7 - 20.7 1.5 19.2 19.2 - - NA Finance origination West QFs 33.7 33.7 (0.3) 34.0 34.0 - 6.7 - 6.7 - 6.7 6.7 - - NA Accrual inc on merch invest Accrual income on much invest 10.1 10.1 6.2 3.9 - 3.9 (13.2) (15.2) 2.0 (13.1) 15.1 9.3 5.8 77.6 EPI Accrual inc on merch invest Accrual income on merch invest (7.4) (7.4) (7.4) - - - - - - - - - - 7.0 NA Other Portfolio Related EGF Reimb of JEDI ENE Puts - - - - - - - - - (79.2) - (79.2) - (79.2) - (79.2) (80.7) NA Other Portfolio Related ENE puts - - 9.1 NA Other Portfolio Related ECT Investments - 4 8 - 4 8 - 1 1 - 3.7 3.7 - (12.5) (7.0) (5.5) - (5.5) 0.5 (6.0) (2.9) NA Other Portfolio Related Other . . . EPI Other Portfolio Related Hornbeck-Leevac Sub Debt C-Merlin 3.3 3.3 3.3 - - - - - - - - - EPI Other Portfolio Related Other (0.5) (0.5) (0.5) - - - - NA Expenses-Merchant invest Expenses - SA (1.4) (1.4) - (1.4) - (1.4) - - - - - - - " NA Expenses -Mcrchantinvest Expenses-NA (25.3) (25.3) (2.0) (23.3) (9.9) (13.4) (96.2) (22.6) (73.6) (17.1) (56.5) (22:3) (34.2) (93.6) EPl Expenses - Merchant invest Expenses - EPI (6.1) (6.1) (6.1) - - - - - - - - - - - - - - - - - - 10.0 NA Selldowns/Sales Bammel Looper (125) - - - - - - - - - - - - - 16.6 NA Selldowns/Sales Powder River (125) - - - - - 27.0 NA Selldowns/Sales Pittsburg Power Plant - - - - - - - - 4 27 NA Selldowns/Sales Project Rock (125) 1.0 1.0 1.0 - - - - - - - - - - - - - - - . 16.9 NA Selldowns/Sales Wind River (125) - - - - - - - - 79.0 - 79.0 79.0 - - - - NA Selldowns/Sales Project 20/20 - - 1.2 NA NA Selldowns/Sales Unallocated Expenses-NA Hanover Compressor Sale Unallocated Expenses-NA - (155.5) - (155.5) - (63.9) (91.6) (48.9) (42.7) (152.7) (20.9) (131.8) (55.4) (76.4) (45.3), (31.1). (125.2) NA Gas Trading South America- Gas Trading (0.6) (0.6) - (0.6) 0.7 (1.3) - - - - - - " NA Selldowns/Sales Copel Share monetization 1.5 1.5 - 1.5 - 1.5 - - - - - - - " EPl Selldowns/Sales Copel Share monetization (4.9) (4.9) (4.9) - - - - - - - - - NA Unallocated Expenses - SA Unallocated Expenses - SA (8.4) (8.4) - (8.4) (3.2) (5.2) - - - - - - - - NA Other Trading Interest & FX Books 120.8 - 120.8 31.2 89.6 40.5 49.1 154.2 64.9 89.3 26.2: 63.1 37.2. 25.9 825: - - - - - - (4.2) - (4.2) - (4.2) (2.0) (2.2) - SA Trading Expenses Expenses NT-WK Other Trading EnronOnline 6.7 6.7 - 6.7 1.4 5.3 NTWK Other Trading Other Trading 4.1 4.1 0.5 3.6 2.7 0.9 - - - - - - - - Buckets 3Q 2001. Markets .xls, 2Q0I Detail ' o , EC46649AO030 204 10/16/2001,12:08 AM EXH066-00486 ============= Page 14 of 49 ============= Enron Corp. Wholesale & EGA MIT by Market 2001 bQuarter 2000 b Quarter 1999 Subcateeorv Description Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 9 mo 3Q 6 mo 2Q IQ Year NTWK Trading Expenses Expenses (33.6) (33.6) (12.5) (21.1) (7.6) (13.5) (37.2) (26.5) (10.7) (5.6) (5.1) (5.1) - - NTWK Fair Value income Other 3.1 3.1 - 3.1 (0.6) 3.7 (2.5) (3.8) 1.3 1.3 - - - - NTWK Expenses-Merchant invest Expenses (I.1) (1.1) - (I.1) (I.1) - - - - - - - - - WHSLOT Other Trading 24-7 Crude Trading (30.0) (30.0) (1.5) (28.5) (11.3) (17.2) - - - - - - WHSLOT Trading Expenses Other trading expenses (29.0) (29.0) (10.6) (18.4) (17.2) (1.2) - - - - - - - EUR Other Trading Crude Oil Prepayments (6.4) (6.4) 4.5 (10.9) (6.7) (4.2) (55.2) (8.1) (47.1) - (47.1) (18.7) (28.4) (38.4) EGM Other Trading Crude Oil Prepayments - - - - - - (68.3) (33.7) (34.6) (34.6) - - - - WHSLOT Other Trading Crude Oil Prepayments (36.1) (36.1) 15.9 (52.0) (37.0) (15.0) - - - - - - - WHSLOTOtherTradin Reverse margin deposit interest - - - - - g North American Other Energy Markets (301.1) - (301.1) (143.0) (158.1) (62.6) (95.5) (156.1) 7.5 (163.6) (87.2) (76.4) (70.9) (5.5) 188.1 TOTAL ENA ENERGY MARKETS 1,872.3 - 1,8723 700.9 1,171.4 641.9 529.5 1,532.4 461.1 1,071.3 535.0 536.3 297.5 238.8 490.9 Buckets 3Q 2001 Markets.xls, 2Q01 Detail 13 E C46649AO030205 10/16/2001, 12:08 AM EXH066-00487 ============= Page 15 of 49 ============= Enron Corp. Wholesale & EGA IBIT by Market FUR EUR EUR EUR EUR EUR EUR EUR FUR EUR EUR EUR EUR EUR EUR FUR EUR CUR EUR EUR EUR EUR EUR EUR EUR FUR EUR FUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR FUR EUR Subcategorv Description 2001 6 Quarter 2000 6 Quarter 1999 Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 9 mo 3Q 6 mo 2Q 1Q Year EUROPEAN ENERGY MARKETS Gas Trading Gas Trading 22.4 22.4 27.4 (5.0) (29.6) 24.6 Gas Trading Gas Transport Revenues 3.9 3.9 2.5 1.4 2.1 (0.7) Gas Trading Gas Origination - - -. - - _ Trading Expenses Gas trading expenses (41.6) (41.6) (12.0) (29.6) (10.7) (18.9) Power Trading Power Trading 371.3 371.3 37.8 333.5 173.1 160.4 Power Trading Power Originations [C below] - - - - - - _ Trading Expenses Power trading expenses (84.4) (84.4) (27.8) (56.6) (30.8) (25.8) Other Trading Credit Reserve Adjustment 21.9 21.9 - 21.9 - 21.9 Other Trading ETOL 57.6 57.6 17.1 40.5 21.3 19.2 Other Trading ETOL Expenses (17.8) (17.8) - (17.8) (10.1) (7.7) Other Trading Interest & FX Books 30.1 30.1 15.4 14.7 7.0 7.7 Other Trading Metals Trading (38.8) (38.8) (3.2) (35.6) (8.7) (26.9) Other Trading Other Trading - Credit Trading 19.3 19.3 (1.7) 21.0 21.0 - Other Trading Other Trading - Australia 6.2 6.2 3.2 3.0 3.0 Other Trading Other Trading - Structured Finance 1.0 1.0 - 1.0 1.0 - OtherTrading Other Trading (13.1) (13.1) (23.1) 10.0 2.0 8.0 Other Trading Spread Options 0.5 0.5 27.0 (26.5) (45.3) 18.8 Other Trading Sutton Bridge - - - - Other Trading Teesside Utilities OtherTrading Watershed (31.9) (31.9) (6.9) (25.0) 13.9 (38.9) Trading Expenses Other trading expenses (97.6) (97.6) (25.5) (72.1) (37.1) (35.0) Fair Value income Paladin FV - - - Fair Value income OPET & OSI 1.5 1.5 - 1.5 (6.0) 7.5 Fair Value income Techboard FV - - - - - Expenses - Merchant invest Expenses - EUR (4.9) (4.9) - (4.9) - (4.9) Selldowns/Sales Bitterfeld - - - - - Selldowns/Sales ETOL(125) 39.8 39.8 - 39.8 39.8 - Selldowns/Sales Poland - - - - - Selldowns/Sales Riverside 5 (125) - - - - - Sdtdowns/Sales Sutton Bridge 3 (125) Selldowns/Sales Sutton Bridge 4 (125) Selldowns/Sales Expenses Other Trading Other Trading - Whitewing (Margaux) (16.0) (16.0) - (16.0) (16.0) - Other Trading Margaux Corp Financing - - - - - Other Trading CATS settlement interest exp (14.0) (14.0) - (14.0) (14.0) - Selldowns/Sales Margaux II (125) (2.9) (2.9) - (2.9) - (2.9) Operations Assets 11.0 11.0 - 11.0 3.1 7.9 Operations Enrici (28.4) (28.4) (9.8) (18.6) (9.6) (9.0) Operations Equity Earnings 2.0 2.0 (0.1) 2.1 (0.2) 2.3 Operations Management Fees 4.0 4.0 1.0 3.0 - 3.0 Operations Expenses (13.0) (13.0) (2.5) (10.5) (5.2) (5.3) Other Trading Transfer ETOL to Retail (22.5) (22.5) - (22.5) (11.1) (11.4) Unallocated Expenses - CUR Unallocated Expenses - CUR (62.5) (62.5) (30.5) (32.0) (17.7) (14.3) Total Europe 103.1 - 103.1 (11.7) 114.8 35.2 79.6 Buckets 3Q 2001 Markets.xls, 2Q01 Detail - I a.f 14.2 60.1 (45.9) (12.5) (33.4) (20.9) (12.5) 5.5 9.2 2.3 6.9 2.2 4.7 2.3 2.4 9.4 (20.5) (7.2) (13.3) (4.8) (8.5) (4.6) (3.9) (7.4) 333.9 79.4 254.5 95.2 159.3 57.1 102.2 127.7 - - - - - - - 66.1 (122.2) (41.1) (81.1) (39.6) (41.5) (22.6) (18.9) (9.0) - - - - - - - 104.6 36.7 5.2 31.5 14.4 17.1 5.1 12.0 - (13.7) (1.6) (12.1) (3.6) (8.5) (5.0) (3.5) - 36.6 - 36.6 6.4 30.2 6.1 24.1 24.5 30.3 3.5 26.8 26.8 - - - - 6.0 5.8 0.2 (0.1) 0.3 0.1 0.2 9.6 (1.5) (72.9) 71.4 (17.9) 89.3 65.4 23.9 50.1 0.8 - 0.8 - 0.8 0.7 0.1 (5.0) (5.2) (4.1) (1.1) (0.3) (0.8) (0.4) (0.4) (13.2) 22.2 22.2 (111.9) (51.1) (60.8) (4.8) (56.0) (28.2) (27.8) (143.3) (1.5) 1.7 (3.2) 1.8 (5.0) (1.9) (3.1) 2.5 23.3 (5.8) 29.1 18.3 10.8 10.8 - - - - - - - - (14.3) 0.7 0.7 - 0.7 - 0.7 - - _ - - - _ - 4.8 108.1 108.1 - - - - - - - - - - - - 7.5 - 2.0 8.7 - 8.7 - 8.7 8.7 - - - - - _ - - 39.0 (12.2) (12.2) 36.8 36.8 - - - - - - 33.8 7.5 26.3 16.6 9.7 7.0 2.7 (3.0) (23.5) (6.6) (16.9) (5.4) (11.5) (7.4) (4.1) (9.5) 18.4 5.4 13.0 4.5 8.5 1.5 7.0 18.6 10.3 3.7 6.6 2.6 4.0 1.8 2.2 10.7 (80.8) (30.4) (50.4) (22.6) (27.8) (15.0) (12.8) (50.3) (23.0) (3.6) (19.4) (10.8) (8.6) (0.1) (8.5) - (71.9) (25.6) (46.3) (19.1) (27.2) (12.6) (14.6) 35.6 242.1 79.5 162.6 47.3 115.3 47.9 67.4 192.0 EC46649A0030206 10/16/2001, 12:08 AM EXH066-00488 ============= Page 16 of 49 ============= Enron Corp. Wholesale & EGA IBIT by Market Subcategorv Description 2001 b Quarter 2000 b Quarter 1999 Year 4Q 9 mo 3Q 6 mo 2Q 1Q Year 4Q 9 mo 3Q 6 mo 2Q 1Q Year OTHER MARKETS EGM Other Trading Coal Trading 71.7 71.7 30.0 41.7 21.4 20.3 EGM Other Trading Equity Trading 10.5 10.5 - 10.5 9.2 1.3 EGM Other Trading Coal Trading - - - - - - EGM Other Trading Equity Trading - - - - - - EGM Other Trading Interest & FX Books 17.8 17.8 5.7 12.1 4.6 7.5 EGM Other Trading Insurance - - - - - EGM Other Trading Other Trading 22.2 22.2 4.1 18.1 10.2 7.9 EGM Other Trading S02 Trading 0.4 0.4 2.9 (2.5) 3.7 (6.2) EGM Other Trading Weather Trading 26.5 26.5 8.9 17.6 8.9 8.7 EGM Other Trading S02 Trading - - - - - - EGM Other Trading Weather Trading - - - - - " EGM Other Trading Other trading expenses (106.5) (106.5) (41.5) (65.0) (35.8) (29.2) EGM Other Trading Global Liquids Trading (79.3) (79.3) (47.8) (31.5) (92.5) 61.0 EGM Other Trading EOTT MTM 202.0 202.0 76.7 125.3 125.3 - EGM Trading Expenses Global Liquids Trading Expenses (45.7) (45.7) (15.0) (30.7) (15.0) (15.7) EGM Fair Value income Fair Value income 1.8 1,8 2.0 (0.2) (0.9) 0.7 EGM Accrual inc on merch invest Accrual income on merch invest - - - " EGM Expenses - Merchant invest Merchant Investment - expense - - - - - - EGM Operations Operations 3.5 3.5 - 3.5 4.3 (0.8) EGM Operations expense Expenses (3.7) (3.7) - (3.7) (0.7) (3.0) EGM Unallocated Expenses - EGM Unallocated Expenses - EGM (20.4) (20.4) (5.6) (14.8) (8.6) (6.2) Total Enron Global Markets 100.8 - 100.8 20.4 80.4 34.1 46.3 46.5 46.5 - - - - - - 58.8 0.8 58.0 16.3 41.7 11.6 30.1 - 12.5 - 12.5 5.6 6.9 3.5 3.4 37.3 5.5 - 5.5 2.4 3.1 (0.2) 3.3 54.3 10.7 3.8 6.9 2.5 4.4 2.0 2.4 8.7 - - - - - - 9.5 (0.6) (0.6) - - - - - - 6.5 6.5 - - - - - - 6.2 6.2 - - - - - - (0.3) - (0.3) 2.9 (3.2) (6.9) 3.7 (6.8) 12.9 - 12.9 3.4 9.5 3.8 5.7 13.4 (41.6) (16.2) (25.4) (8.7) (16.7) (8.5) (8.2) (30.4) 59.8 16.4 43.4 (1.8) 45.2 14.8 30.4 58.2 (51.8) (14.9) (36.9) (19.3) (17.6) (7.7) (9.9) (49.3) (6.6) - (6.6) (7.2) 0.6 1.7 (1.1) - (1.7) (1.7) (0.5) (1.2) (0.6) (0.6) (6.5) - (6.5) (1.9) (4.6) (1.3) (3.3)' - 4.3 4.3 - - - - - - (4.3) (4.3) - - - - - - (16.1) (16.1) - - - - - - 94.2 32.4 61.8 (6.3) 68.1 12.2 55.9 94.9 EIM Other Trading Forest Products Trading (9.0) - (9.0) (1.5) (7.5) (7.2) (0.3) 39.1 7.6 31.5 22.4 9.1 6.2 2.9 - NA Other Trading Paper Trading - - - - - - 3.7 3.6 0.1 0.1 - - - 21.9 ElM Other Trading FP Originations-Sundance 35.7 - 35.7 - 35.7 20.0 15.7 - - - - - - - - EIM Other Trading Steel Trading 16.7 - 16.7 13.4 3.3 2.2 1.1 - - - - - - - - EIM Other Trading Steel Originations - Huntco 18.6 - 18.6 - 18.6 18.5 0.1 - - - - - - - - EIM Other Trading Steel Originations - Other 13.0 - 13.0 12.8 0.2 0.2 - - - - - - - - - EIM Trading Expenses Expenses (23.1) - (23.1) (2.4) (20.7) (18.3) (2.4) (34.3) (20.4) (13.9) (5.3) (8.6) (6.5) (2.1) (282)` ElM Fair Value income Fair Value income - - - - - - (2.4) 0.6 (3.0) (3.7) 0.7 0.4 0.3 - EIM Equ earn - FV vehicles Otherr equity earnings, - - - - - - (1.4) (1.4) - - - - - - EiM FV/Other Portfolio Related Alamac 6.9 6.9 - 6.9 (0.1) 7.0 - - - - - - - NA Other Trading Networks Partners gain - - - - - - - - - EIM Other Trading Networks Partners gain - - - - - - 54.9 54.9 - - - - - - NTWK Other Trading Networks Partners gain - - - - - - 54.5 54.5 - - - - - - EIM Expenses - Merchant invest Merchant Investment - expense - - - - - (6.5) - (6.5) (2.8) (3.7) - (3.7). - ElM Operations Garden State Paper 9.9 9.9 (2.9) 12.8 4.0 8.8 - - - - - - - Elm Operations Stadacona 15.5 15.5 6.0 9.5 9.5 - - - - - - - EIM Operations expense Expenses (0.4) (0.4) (0.1) (0.3) (0.2) (0.1) - - - - - - - ElM Unallocated Expenses -EIM Unallocated Expenses -EIM (39.0) (39.0) (2.6) (36.4) (15.3) (21.1) (12.9) (6.6) (6.3) (2.6) (3.7) (2.1) (1.6) - Total Enron Industrial Markets 44.8 - 44.8 22.7 22.1 13.3 8.8 94.7 92.8 1.9 8.1 (6.2) (2.0) (4.2) (6.3) EGEP Operations E&P operations 114.3 114.3 39.3 75.0 36.9 38.1 141.6 40.3 101.3 30.0 71.3 37.4 33.9 41.2 EGEP Operations Expenses (65.2) (65.2) (21.2) (44.0) (21.4) (22.6) (84.4) (3.5) (80.9) (20.8) (60.1) (30.3) (29.8) 26.7 Total Enron Global Exploration and Production 49.1 - 49.1 18.1 31.0 15.5 15.5 57.2 36.8 20.4 9.2 11.2 7.1 4.1 14.5 EC46649AO030207 10/16/2001 12:08 A M Buckets 3Q 2001 Markets.xls. 2Q01 Detail 19; , EXH066-00489 ============= Page 17 of 49 ============= Enron Corp. Wholesale & EGA IBIT by Market 2000 b Quarter 1999 2001 b Quart er Subcateeory Description Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 9 mo 3Q 6 mo 2Q IQ Year EE&CC Selldowes/Sales Poland - - - - - - 1.3 - 1.3 - 1.3 - 1.3 - EE&CC Selldowns/Sales India Phase II - - - - - - 3.2 - 3.2 - 3.2 - 3.2 - - - - 0 8 - 0.8 - 0.8 - 0.8 - EE&CC Selldowns/Sales Puerto Rico - - - - . - - - - - - - 4.0 EE&CC Selldowns/Sales Guam - - - - - - 12.8 EE&CC Selldowns/Sales Italy/Turkey (125) - - - - - - - - - - - - 11.7 EE&CC Selldowns/Sales Sutton Bridge (def constr rev) - - - - - - - - - - - - - - 3.4 EE&CC Selldowns/Sales Teesside (def constr rev) EE&CC A - (1 9) - (1 9) - (2.4) - 0.5 - - 0.5 13.8 2.5 11.3 5.2 6.1 2.7 3.4 6.2 EE&CC Dev & Coast ccroven- EE&CC C i b . (0 5) . (0 5) (0.3) (0.2) (0.2) - 0.5 0.2 0.3 (1.4) 1.7 1.1 0.6 4.9 EE&CC Dev & Const a u a- EE&CC D . (0 1) . (0 1) - (0.1) (0.1) - 0.2 (0.6) 0.8 0.8 - - - 4.6 EE&CC Dcv & Coast emar - . . - - - - - - - - 1.9 EE&CC Dev & Coast Guam - EE&CC - 2 - 0 2 - - 2 0 (1 6) 1 8 7 10 2.9 7.8 0.8 7.0 3.2 3.8 - EE&CC Dev & Const India Phase II - EE&CC 0. . - . . . . EE&CC Dev & Const Lagos - EE&CC (0.9) (0.9) (0.9) - - - - - - - - - EE&CC Dev&Const Nepco-Other-EE&CC (1.0) (1.0) (2.7) 1.7 2.6 (0.9) 9.9 (0.1) 10.0 3.4 6.6 6.4 0.2 13.5 EE&CC Dev & Const Nepco - Cogentrix Caledonia - EE&CC 5.1 5.1 1.6 3.5 3.5 - - - - - - EE&CC Dev & Const Nepco - Cogentrix Southhaven - EE&CC 8.8 8.8 8.8 - - " EE&CC Dev & Const Nepco - Fountain Valley - EE&CC 16.9 16.9 10.5 6.4 6.4 - - - - - " EE&CC Dev & Const Nepco - Goidendale Fee Peakers - EE&CC 4.6 4.6 2.1 2.5 2.5 - 4.0 4.0 - - - - - - EE&CC Dev & Const Nepco - Green County - EE&CC (14.9) (14.9) (6.2) (8.7) (8.7) - 8.4 2.7 5.7 2.0 3.7 2.6 1.1 - EE&CC Dev & Const Nepco - Lagos - EE&CC 4.3 4.3 - 4.3 2.9 1.4 2.7 2.7 - - - - - - EE&CC Dev & Const Nepco - LSP Kendall - EE&CC (16.6) (16.6) (16.5) (0.1) (1.7) 1.6 5.5 5.5 - - - - EE&CC Dev&Const Nepco-Panda-EE&CC 38.4 38.4 16.6 21.8 6.1 15.7 - - - - - - - - EE&CC Dev & Const Nepco - 2000 Peakers - EE&CC (4.9) (4.9) - (4.9) - (4.9) 9.2 9.2 - - - - - - EE&CC Dev & Coast Other- EE&CC (3.9) (3.9) (2.3) (1.6) (1.6) - (1.6) (4.9) 3.3 (4.9) 8.2 6.2 2.0 9.0 EE&CC Dcv&Const Poland-EE&CC - - - - - - 0.2 - 0.2 (1.1) 1.3 1.3 - 2.3 EE&CC Dev & Coast Puerto Rico - EE&CC (5.0) (5.0) - (5.0) - (5.0) (28.4) (6.4) (22.0) (3.6) (18.4) (5.4) (13.0) 1.3 EE&CC Dcv & Const Sutton Bridge - EE&CC - - - - 8.0 1.2 6.8 5.6 1.2 1.2 - 5.3 EE&CC Dev & Const Turkey (constr)- EE&CC (2.1) (2.1) - (2.1) - (2.1) (1.9) (1.9) - - - - - (0.3) EE&CC Dev & Const Westinghouse settlement - EE&CC - - - - - - - - - - 3.0 EE&CC Dev & Coast Expenses - EE&CC (14.4) (14.4) (4.8) (9.6) (9.6) - - - - - NA Trading Expenses Other trading exp. - (weather, paper) - - - - - - (7.0) - (7.0) (7.0) - - - - - - - - - - (4.4) 4.4 1.3 3.1 2.3 0.8 3.2 APACHI Power Trading Power Trading - - - - - - - 9.0 (9.0) (6.8) (2.2) (0.9) (1.3) (7.4) APACHI Trading Expenses Power trading expenses - - - - - - - - (14.0) Elims Other Portfolio Related Dom Rep write-off - - - - - - - - - - (11.8) Elims Other Portfolio Related Reclass EGF Flash to actual - - - 9.2 Elims Other Portfolio Related Condor equity earnings - - - - - - - - - (2.4) Elims Other Portfolio Related Peregrine reclass - - - - - (10.0) Eli- Operations COS adjustment Total Other - 12.1 - 12.1 3.5 8.6 0.5 8.1 39.5 21.6 17.9 (5.7) 23.6 20.7 2.9 50.4 Total Other Markets 206.8 - 206.8 64.7 142.1 63.4 78.7 285.6 183.6 102.0 5.3 96.7 38.0 58.7 153.5 TOTAL EUROPE AND OTHER MARKETS 309 .9 - 309 .9 53.0 256.9 98.6 158.3 527.7 263.1 264.6 52.6 212.0 85.9 126.1 345.5 TOTAL WHOLESALE 2,182.2 - 2,182.2 753.9 1,428.3 740.5 687.8 2,060.1 724.2 1,335.9 587.6 748.3 383.4 364.9 836.4 EC46649AO030208 Buckets 3Q 2001 Markets_xls, 2Q01 Detail I to 10/16/2001. 12:08 AM EXH066-00490 ============= Page 18 of 49 ============= Enron Corp. Wholesale & EGA IBIT by Market Subcateeorv Description IAI GAS ORIGINATIONS - NA NA Origination (Commodity) APEA NA Origination (Commodity) BPA NA Origination (Commodity) Bridgeline NA Origination (Commodity) Canada NA Origination (Commodity) Entex NA Originations (Commodity) Formosa NA Originations (Commodity) Ft James NA Origination (Commodity) FP&L NA Origination (Coranodity) FX loss NA Origination (Commodity) HPL NA Origination (Commodity) JM Huber NA Origination (Commodity) Kern River Transport NA Originations (Commodity) Megs NA Originations (Commodity) Mexico NA Origination (Commodity) Other Originations NA Origination (Commodity) Palm Springs/S. San Francisco NA Origination (Commodity) Peoples NA Origination (Commodity) Pilkington NA Origination (Commodity) PNM-El Paso NA Origination (Commodity) Qualitech NA Origination (Commodity) Walton EMC NA Origination (Commodity) Wilton Center 2001 b Quarter 2000 b Quarter 1999 Year 4Q 9 mo 3 Q 6 mo 2Q IQ Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 7.0 (4.5) (4.5) (4.5) - - - - - - - - - - - 20.4 5.7 14.7 4.6 10.1 3.8 6.3 11.7 - - - - - - - 10.1 2.5 2.5 - 2.5 2.5 - - - - - - - - - 1.1 8.3 (10.4) (10.4) - (10.4) - (10.4) 22.7 22.7 1.6 21.1 12.6 8.5 - - - - - - - - 5.8 5.8 - 5.8 5.8 - - - - - - - - - 2.9 2.9 2.9 - - - (0.6) (0.6) (4.9) 4.3 1.9 2.4 - - - - - - - - 3.7 3.7 1.4 2.3 2.3 - - - - - - - - - 9.5 9.5 5.2 4.3 1.6 2.7 19.5 9.4 10.1 4.0 6.1 3.6 2.5 15.5 14.0 1.0 1.0 - 1.0 - 1.0 - 3.1 3.1 3.1 - - - - 6.9 8.5 NA J"). / - .S J. / '+.a .w.7 LU. / +.< 83.1 EC46649W 030209 Buckets 3Q 2001 Markets.xls, 2Q01 Detail 1 9 10/16/2001, I2:08 AM EXH066-00491 ============= Page 19 of 49 ============= Enron Corp. Wholesale & EGA IBIT by Market Subcategorv Description IBl POWER ORIGINATIONS - NA NA Origination (Commodity) Alberta Power PPA NA Origination (Commodity) AES NA Originations (Commodity) AIG NA Originations (Commodity) APEA NA Origination (Commodity) Arcor NA Originations (Commodity) Blue Dog Turbine NA Originations (Commodity) BP Capital NA Originations (Commodity) Cactus NA Origination (Commodity) Calgary Co-op NA Originations (Commodity) Central Maine Power NA Origination (Commodity) Doyle distributable cash NA Origination (Commodity) Duke (New Albany) NA Originations (Commodity) DWR NA Originations (Commodity) Genco NA Originations (Commodity) Genco-Peakers Transaction NA Origination (Commodity) Intergen NA Origination (Commodity) LV Cogen Turbine NA Originations (Commodity) Nstar NA Originations (Commodity) Omaha Public Power District NA Origination (Commodity) Other Originations NA Origination (Commodity) Palm Springs/S. San Francisco NA Origination (Commodity) Pastoria NA Originations (Commodity) Peakers sale NA Originations (Commodity) Psco NA Originations (Commodity) San Antonio , NA Origination (Commodity) United Illuminating NA Originations (Commodity) Walton EMC ICl POWER ORIGINATIONS - EUR EUR Origination (Commodity) Eastern Transportation EUR Originations (Commodity) Other Originations EUR Origination Expenses Expenses 2001 b Quarter 2000 b Quarter 1999 Year 4Q 9 mo 3 Q 6 mo 2Q IQ Year 4Q 9 mo 3 Q 6 mo 2Q 1Q Year 25.0 25.0 - 25.0 - 25.0 - - - - - - - - 2.0 2.0 2.0 - - - - - - - - - - - 1.7 1.7 1.7 - - - - - - - - - - - - - 5.0 3.5 3.5 1.3 2.2 2.2 - - - - - - - - - 4.8 4.8 1.3 3.5 3.5 - - - - - - - - - 2.0 2.0 - 2.0 2.0 - - - - - - - - - - - - - - - - - - - - - - 5.5 1.5 1.5 - 1.5 1.5 - - - - - - - - - 3.0 3.0 - 3.0 - 3.0 - - - - - - - - 1.3 1.3 - 1.3 - 1.3 - - - - - - - - 3.0 3.0 - 3.0 3.0 - - - - - - - - - 7.0 7.0 - 7.0 7.0 - - - - - - - - - - - _ - - - 31.6 - 31.6 - 31.6 10.5 21.1 40.6 - - - - - - - - - - - - - 49.0 3.5 3.5 - 3.5 - 3.5 - - - - - - - 8.6 8.6 - 8.6 8.6 - - - - - - - - - 5.0 5.0 - 5.0 - 5.0 - - - - - - - - 2.0 2.0 - 2.0 2.0 - - _ - _ - _ _ - 8.3 8.3 2.8 5.5 0.6 4.9 18.2 8.6 9.6 8.0 1.6 - 1.6 - - - - - - - - - - - - - - 8.0`, 41.1 41.1 0.8 40.3 40.3 - - - - - - - - - 637.5 637.5 - 637.5 412.2 225.3 - - - - - - - - 16.7 16.7 4.7 12.0 12.0 - - - - - - - - - 18.0 18.0 18.0 - - - - - - 30.0 - - - - - - - - - - - 7.9 NA 795.5 - 795.5 32.6 762.9 494.9 268.0 49.8 8.6 41.2 8.0 33.2 10.5 22.7 146.0 - - - - - - - - - - - - 96.3 30.2 EUR - - - - - - - - 66.1 EC46649AO030210 Buckets 3Q 2001 Markets.xls, 2QOI Detail 19 10/16/2001, 12:08 AM EXH066-00492 ============= Page 20 of 49 ============= NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Enron Corp. IBIT b M k Wholesale & EGA y ar et 2001 b Quarter 2000 b Quarter 1999 4Q Y 9 mo 3Q 6 mo 2Q IQ Year 4Q 9 mo 3Q 6 mo 2Q IQ Year Subcategorv Description ear ID) FAIR VALUE INCOME - NA - - - - 60.9 - 60.9 60.9 - - - - Fair Value income Active Power - - Fair Value income Alamac Cogeneration FV 7.3 7.3 7.3 - 7.3 - - - - - - - Fair Value income American Coal - - " 7.3 Fair Value income Black Mountain FV 1 1 1 1 - 1.1 1.1 - (2.6) - (2.6) (2.6) - - - - Fair Value income Bonne Terre . - . - - - - - (5.5) (5.5) (5.5) - - Fair Value income Brigham - - - - 2.3 - 2.3 1.4 0.9 0.9 - (1.6) Fair Value income Canada FV - - - - - - - (42.8) - (42.8) (37.8) (5.0) (5.0) (2.2) Fair Value income Canfibre Riverside IPC - - - - - 0.1 - 0.1 - 0.1 0.1 - (5.6) Fair Value income Carizzo FV - 4 9 - 4 9 - 4.9 - 4.9 69.8 - 69.8 69.8 - - - 16.5 Fair Value income Fair Value income Catalytica FV City Forest FV . (0.7) . (0.7) - (0.7) (0.7) - (1.0) - (1.0) - (1.0) (1.0) - - (8.0) Fair Value income Fair Value income Costilla FV Cypress Expl FV (6.4) (6.4) (3.2) (3.2) (3.2) - - - - - - - - (5.0) Fair Value income East Coast Power FV 5.5 - 5.5 - 0.3 - 5.2 - 5.2 - - - - (37.4) - (37.4) (37.9) - 0.5 - 0.5 - - 4.4 10.8 Fair Value income Ecogas FV - - - - - (21.6) - (21.6) (20.8) (0.8) (29.6) 28.8 96.8 Fair Value income First World FV - Fair Value income Hanover Compressor FV l FV H l d S (0.2) (42 9) (0.2) (42.9) - (0.2) (42.9) 4.9 - (5.1) (42.9) - (9.1) - - - (9.1) (4.8) - (4.3) - (4.3) - - - 6.7 Fair Value income tee eart an FV P f d . (10 6) (10.6) (8.5) (2.1) - (2.1) (17.1) - (17.1) (1.1) (16.0) (2.0) (14.0) (105.9) Fair Value income Fair Value income ormance er He ge Hedge Performance FV (Raptor) . 126.3 126.3 15.1 111.2 - 111.2 - - - - - - - - - - (5.6) - (5.6) - (5.6) (5.6) - - Fair Value income Hughes Rawles - - - - - 1 1.7 - 11.7 10.2 1.5 1.5 - - Fair Value income NV Marine - - Fair Value income Juniper (12.5) - (12.5) - (12.5) - - - - - - - (118.0) - - (118.0) (65.9) (52.1) (28.7) (23.4) 47.8 Fair Value income KafusFV Fair Value income KCS 6.7 0 3 6.7 3 0 - - 6.7 0.3 6.7 0.3 - - - 1.2 - - - 1.2 - - - 1.2 1.2 - - - - Fair Value income Linden Oil . 3 7 . 7 3 - 3.7 3.7 - (0.2) - (0.2) (2.5) 2.3 2.3 - 14.7 Fair Value income Mariner FV . - . - - - - - (15.8) - (15.8) (5.5) (10.3) (10.3) - - Fair Value income Merlin - - - - (10.6) Fair Value income NSM FV - - - - - (6.7) - (6.7) (6.7) - - (2.7) Fair Value income Oconto Falls FV FV h O - (5 8) (5.8) 0.5 (6.3) (5.5) (0.8) 8.6 - 8.6 6.8 1.8 1.4 0.4 (1.2) Fair Value income t er- . 0 4 4 0 - 0.4 - 0.4 0.1 (0.6) 0.7 (0.1) 0.8 0.6 0.2 10.3 Fair Value income Papier Masson FV . . - _ (67.7) Fair Value income Qualitech FV - - - - - - - 25.6 - 25.6 - 25.6 - 25.6 5.4 Fair Value income Quanta FV - - _ _ (4 8) Fair Value income Recon/Kafus FV - - - Fair Value income Sam GaryBoone Terrevision 1.9 1.9 1.9 - - - - - - - - - - - (7.8) Fair Value income Structured credit FV - - - Fair Value income Texland (2.6) (2.6) (2.6) - - - - - - - - - Fair Value income Venoco FV NA 77.5 - 77.5 (9.0) 86.5 13.6 72.9 (88.5) (0.6) (87.9) (28.3) (59.6) (72.2) 12.6 1.2 EC46649AO030211 Buckets 3Q 2001 Markets.xts, 2Q01 Detail 19 10116/2001, 12:08 AM EXH066-00493 ============= Page 21 of 49 ============= Enron Corp. Wholesale & EGA IBIT by Market 2000 b Quarter 1999 2001 6 Quarter Subcateeory Description Year 4Q 9 mo 3Q 6 mo 2Q 1Q Year 4Q 9 mo 3Q 6 mo 2Q 1Q Year [E] FAIR VALUE INCOME - EPI EPI Fair Value income Active Power (1.1) (1.1) (1.1) - - _ - EPI Fair Value income AristaSoft (3.0) (3.0) (3.0) - - - - - - - - - - EPI Fair Value income Avici TRS (8.3) (8.3) (8.3) - - - - - - - - EPI Fair Value income Financial Settlement Matrix (3.5) (3.5) (3.5) - - - - - - - - - EPI Fair Value income Fuel Cell Energy Hedge 1.3 1.3 1.3 - - - - - EPI Fair Value income Hanover Compressor Common (38.2) (38.2) (38.2) EPI Fair Value income Hedge Performance FV (Raptor) 58.6 58.6 58.6 - - - - - EPI Fair Value income Hewlett packard Hedge 2.1 2.1 2.1 - - - - - - EPI Fair Value income Mshow.com (2.9) (2.9) (2.9) - - - - - EPI Fair Value income Oconto Falls (4.1) (4.1) (4.1) - - - - - - - EPI Fair Value income Other -FV (3.3) (3.3) (3.3) EPI Fair Value income Visual Bridge (IeC) Common Stock (4.1) (4.1) (4.1) EPI (6.5) - (6.5) (6.5) Buckets 3Q 2001 Markets.xls, 2Q01 Detail 6[ C) EXH066-00494 EC46649AO030212 10/16/2001, 12:08 AM ============= Page 22 of 49 ============= Enron Corp. Wholesale & EGA BIT by Market 2001 b 2000 b Quarter 1999 Quarter Subcateeorv Description Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 9 mo 3Q 6 mo 2Q IQ Year ENRON GLOBAL ASSETS SA Selldowns/Sales Cuiaba - - - - - - - - - - - - (1.6) SA Gas Trading Cuiaba MTM - - - - - - 17.6 3.3 14.3 (1.4) 15.7 15.7 - 82.9 El Fair Value income NSM FV - - - - - - - - - - - - (4.4) El Finance origination Finance origination - - - - - - - - - - 4.8 El Expenses - Merchant invest Expenses - El El Selldowns/Sales Expenses - - - - - - - - - - - - El Operations Other - - - - - - (24.8) (16.3) (8.5) (3.6) (4.9) 0.2 (5.1) (52.4) El Operations Equity Earnings - - - - - - - - - - - - 13.2 EI Dev & Const Dev exp (start-up costs write-off) - - - - - - - - - - - - - (8.2) El Dev & Const Expenses (incl HQ allot) - - - - - - - - - - (41.4) EI HQ Selldowns/Sales Guam - - - - - - - 0.5 El HQ Selldowns/Sales Italy/Turkey (125) - - - - - - - - - - - - 89.0 El HQ Operations Write-off Hainan excess development costs - - - - - - (15.7) - (15.7) - (15.7) (15.7) - - EI HQ Operations Write-off excess development costs (12.6) (12.6) (3.9) (8.7) (5.2) (3.5) (5.0) - (5.0) (1.9) (3.1) (0.8) (2.3) (8.9) SA Selldowns/Sales Expenses - - - - - - - - - - - EGA (12.6) - (12.6) (3.9) (8.7) (5.2) (3.5) (27.9) (13.0) (14.9) (6.9) (8.0) (0.6) (7.4) 73.5 SA Operations Elektro IBIT 66.5 66.5 17.4 49.1 17.3 31.8 123.8 42.3 81.5 21.7 59.8 23.6 36.2 110.6 SA Operations Vengas - - - - - - 22.8 22.8 - - - - - - SA Operations Operations 6.5 6.5 9.8 (3.3) (1.0) (2.3) 32.7 16.3 16.4 3.2 13.2 5.7 7.5 22.2 SA Operations Equity Earnings-TGS/CIESA 33.0 33.0 12.3 20.7 11.5 9.2 37.6 10.6 27.0 8.8 18.2 6.0 12.2 31.8 SA Operations EquityEamings-Transredes 1.5 1.5 2.8 (1.3) (1.1) (0.2) (10.4) (9.1) (1.3) (1.3) - - - 13.4 SA Operations Equity Earnings-Other (4.9) (4.9) (2.4) (2.5) (2.2) (0.3) 3.3 (2.5) 5.8 2.8 3.0 1.0 2.0 3.4 SA Operations Equity Earnings-CEG/Rio/Gaspart 12.5 12.5 5.4 7.1 3.5 3.6 14.8 4.5 10.3 7.1 3.2 3.2 - (1.5) SA Operations expense Expenses (24.2) (24.2) (3.6) (20.6) (4.9) (15.7) (106.1) (58.1) (48.0) (14.8) (33.2) (17.0) (16.2) 4.8 EGA 90.9 - 90.9 41.7 49.2 23.1 26.1 118.5 26.8 91.7 27.5 64.2 22.5 41.7 175.1 SA Dcv & Const Expenses - - - - - - (19.6) (8.2) (11.4) (3.2) (8.2) (4.7) (3.5) 37.2 EGA - - - - - - - (19.6) (8.2) (11.4) (3.2) (8.2) (4.7) (3.5) 37.2 APACHI Selldo-s/Sales Guam (125) - - - - - - - - - - - 14.0 APACHI Selldowns/Sales Expenses - - - - - - - - - - EGA 14.0 APACHI Operations Batangas Power 15.2 15.2 4.8 10.4 5.3 5.1 44.5 10.1 34.4 11.4 23.0 11.5 11.5 10.8 APACHI Operations Hainan - - - - - - 10.9 - 10.9 (0.1) 11.0 3.1 7.9 7.5 EUR Operations Middle East (15.4) (15.4) - (15.4) (15.4) - - - - - - - - - APACHI Operations Sichuan Dialing 20.1 20.1 6.7 13.4 6.9 6.5 36.9 17.9 19.0 11.8 7.2 7.2 - - APACHI Operations Other (6.2) (6.2) (3.5) (2.7) (0.9) (1.8) 3.6 2.1 1.5 0.6 0.9 (1.1) 2.0 (3.7) APACHI Operations Equity Earnings-Other 3.6 3.6 1.2 2.4 1.1 1.3 - 4.8 1.4 3.4 0.5 2.9 1.8 1.1 4.9 APACHI Operations Equity Eamings-SK Enron 16.7 16.7 0.9 15.8 3.8 12.0 23.1 6.6 16.5 0.6 15.9 3.4 12.5 11.7 APACHI Operationsexpense Expenses (20.0) (20.0) (5.7) (14.3) (5.9) (8.4) (110.3) (17.2) (93.1) (25.5) (67.6) (28.8) (38.8) (18.0) EGA 14.0 - 14.0 4.4 9.6 (5.1) 14.7 13.5 20.9 (7.4) (0.7) (6.7) (2.9) (3.8) 13.2 APACHI Dev & Const Dev fees (5.9) (5.9) - (5.9) - (5.9) - - - - - - - - APACHI Dev & Const Expenses - - - - - - - - EGA (5.9) - (5.9) - (5.9) - (5.9) - - - - - - - - CALME Accrual inc on merch invest Promigas Dividends 13.3 13.3 3.8 9.5 6.1 3.4 12.9 - 12.9 3.6 9.3 8.1 1.2 7.9 EGA 13.3 13.3 3.8 9.5 6.1 3.4 12.9 - 12.9 3.6 9.3 8.1 1.2 7.9 CALME Selldowns/Sales Eco Electrica - - - - - - 0.3 - 0.3 - 0.3 - 0.3 - CALME Selldowns/Sales Haina - - - - - - 10.7 - 10.7 5.3 5.4 5.4 - - CALME Selldowns/Sales Expenses - - - - - - - - - EGA - - - - - 11.0 - 11.0 5.3 5.7 5.4 0.3 - Buckets 3Q 2001 Markets.xls, 2Q01 Detail eg I EC46649AO030213 10/16/2001,12:08 AM EXH066-00495 ============= Page 23 of 49 ============= Enron Corp. - Wholesale & EGA IBIT by Market 2001 6 Quarter 2000 b Quarter 1999 Subcateeory Description Year 4Q 9 mo 3Q 6 mo 2Q IQ Year 4Q 9 mo 3Q 6 mo 2Q 1Q Year CALME Operations Vengas 15.1 15.1 5.2 9.9 4.3 5.6 CALME Operations Bahia Las Minas 12.5 12.5 2.9 9.6 5.8 3.8 CALME Operations Promigas 3.1 3.1 - 3.1 - 3.1 CALME Operations SECLP 3.9 3.9 - 3.9 - 3.9 CALME Operations Operations-Other (13.2) (13.2) (12.7) (0.5) 4.6 (5.1) CALME Operations Equity Earnings-Other 10.1 10.1 6.6 3.5 4.2 (0.7) CALME Operations Equity Earnings-Eeo Electrica 8.0 8.0 1.5 6.5 1.0 5.5 CALME Operations Equity Earnings-Centragas 3.9 3.9 1.1 2.8 1.4 1.4 CALME Operations expense Expenses (22.4) (22.4) (1.8) (20.6) (15.3) (5.3) EGA 21.0 - 21.0 2.8 18.2 6.0 12.2 CALME Dcv & Const Dev fees - - - - - - CALME Dev & Const Expenses (6.7) (6.7) - (6.7) - (6.7) CALME Dev & Const Interest income - - - - - - CALME Dev & Const Other fees - - - - - - EGA (6.7) - (6.7) - (6.7) - (6.7) India Operations Operations (27.2) (27.2) (23.6) (3.6) (2.4) (1.2) India Operations Equity Earnings-Dabhol I 39.7 39.7 11.2 28.5 13.4 15.1 India Operations expense Expenses (31.5) (31.5) (6.9) (24.6) (14.8) (9.8) EGA (19.0) - (19.0) (19.3) 0.3 (3.8) 4.1 India Dev & Const Expenses - - - - - - - EGA - - - - - - - 28.9 1.9 27.0 8.9 18.1 9.7 8.4 - 9.5 4.5 5.0 0.6 4.4 1.5 2.9 2.0 - 2.0 - 2.0 - 2.0 - 2.3 (5.0) 7.3 3.1 4.2 3.5 0.7 46.1 14.1 (1.5) 15.6 5.8 9.8 4.5 5.3 (1.2) 22.6 (0.5) 23.1 2.3 20.8 (1.1) 21.9 - 3.6 - 3.6 1.4 2.2 1.3 0.9 7.9 (31.7) (13.8) (17.9) (3.8) (14.1) (3.5) (10.6) 2.6 51.3 (14.4) 65.7 18.3 47.4 15.9 31.5 55.4 3.7 - 3.7 - 3.7 2.6 1.1 6.3 (29.2) - (29.2) (10.5) (18.7) (10.3) (8.4) (13.9) 3.2 3.3 (25.5) - (25.5) (10.5) (15.0) (7.7) (7.3) 1.1 11.4 1.5 9.9 1.9 8.0 6.0 2.0 7.0 51.3 15.4 35.9 15.1 20.8 4.4 16.4 30.0 (9.7) (2.0) (7.7) (2.0) (5.7) (3.1) (2.6) (12.3) 53.0 14.9 38.1 15.0 23.1 7.3 15.8 24.7 (46.6) (22.1) (24.5) (8.4) (16.1) (11.7) (4.4) 9.7 (46.6) (22.1) (24.5) (8.4) (16.1) (11.7) (4.4) 9.7 GLOBAL ASSETS (excluding Azurix) 95.0 - 95.0 29.5 65.5 21.1 44.4 140.6 4.9 135.7 40.0 95.7 31.6 64.1 315.8 Azurix 83.5 83.5 21.0 62.5 31.0 31.5 102.1 61.0 41.1 24.3 16.8 10.8 6.0 20.0 TOTAL ENRON GLOBAL ASSETS AND SERVICES 11.5 - 11.5 8.5 3.0 9.9 12.9 38.5 56.1 94.6 15.7 78.9 20.8 58.1 335.8 NON-RECURRING ITEMS Azurixwrite-down - - - - - - (387.1) (387.1) - - - TOTAL NON-RECURRING ITEMS - - - - - - (387.1) (387.1) - - - - - - Buckets 3Q 2001 Markets.xls, 2Q01 Detail as E C46649AO030214 10/16/2001, 12:08 AM EXH066-00496 ============= Page 24 of 49 ============= Enron Corp Enron Transportation Services (EGPG4) Detailed Variation Analysis 3rd Quarter 9 mo Ended Sept 30 Third Quarter 6 Mo Ended June 30 Second Quarter First Quarter 2001 2000 Incr (Decr) 2001 2000 Incr (2ecr) 2001 2000 Incr (Decr) 2001 2000 Incr (Duct) 2001 2000 Incr (Decr) Revenues NNG 362.7 367.6 (4.9) R 79.8 80.2 (0.4) 282.9 287.4 (4.5) 107.9 121.6 (13.7) 175.0 165.8 9.2 TW 156.4 131.0 25.4 V 51.2 48.4 2.8 Y 105.2 82.6 22.6 46.6 43.3 3.3 58.6 39.3 19.3 Other Ops 15.0 2.8 12.2 BB 6.8 1.2 5.6 8.2 1.6 6.6 (3.7) 0.8 (4.5) 11.9 0.8 11.1 534 1 501 4 32 7 137.8 129.8 8.0 396.3 371.6 24.7 150.8 165.7 (14.9) 245.5 205.9 39.6 . . . Cost of Sales NNG 33.6 12.3 21.3 S 1.3 1.2 0.1 32.3 11.1 21.2 29.6 10.3 19.3 2.7 0.8 1.9 TW - - - W - - - Z - - - - - - - Other Ops 0.1 - 0.1 - - 0.1 - 0.1 0.1 - 0.1 - - - 33 7 12 3 21.4 1.3 1.2 0.1 32.4 11.1 21.3 29.7 10.3 19.4 2.7 0.8 1.9 . . Gross Mar in NNG 329.1 355.3 (26.2) 78.5 79.0 (0.5) 250.6 276.3 (257) 78.3 111.3 (33.0) 172.3 165.0 7.3 TW 156.4 131.0 25.4 51.2 48.4 2.8 105.2 82.6 22.6 46.6 43.3 3.3 58.6 39.3 19.3 Other P/L Ops 14.9 2.8 12.1 6.8 1.2 5.6 8.1 1.6 6.5 (3.8) 0.8 (4.6) 11.9 0.8 11.1 500 4 489 1 11.3 136.5 128.6 7.9 363.9 360.5 3.4 121.1 155.4 (34.3) 242.8 205.1 37.7 . . O rati Expenses incl taxes NNG 170.9 164.6 6.3 T 52.5 53.5 (1.0) 118.4 111.1 7.3 53.2 57.5 (4.3) 65.2 53.6 11.6 TW 50.5 45.6 4.9 X 17.4 15.1 2.3 AA 33.1 30.5 2.6 7.6 17.3 (9.7) 25.5 13.2 12.3 EOTT 0.2 0.1 0.1 (0.3) (0.2) (0.1) 0.5 0.3 0.2 0.5 0.1 0.4 - 0.2 (0.2) Other Ops 14.7 14.4 0.3 4.9 3.4 1.5 9.8 11.0 (1.2) (6.2) 8.4 (14.6) 16.0 2.6 13.4 NNG-depreciation 35.1 34.8 0.3 11.9 12.0 (0.1) 23.2 22.8 0.4 11.6 11.7 (0.1) 11.6 11.1 0.5 TW - depreciation 14.7 14.3 0.4 4.9 4.5 0.4 9.8 9.8 - 5.0 5.0 - 4.8 4.8 - Other Ops-depreciation 1.2 - 1.2 0.6 - 0.6 0.6 - 0.6 0.3 - 0.3 0.3 - 0.3 287.3 273.8 13.5 91.9 88.3 3.6 195.4 185.5 9.9 72.0 100.0 (28.0) 123.4 85.5 37.9 Operating Income 213.1 215.3 (2.2) 44.6 40.3 4.3 168.5 175.0 (6.5) 49.1 55.4 (6.3) 119.4 119.6 (0.2) E ui Earnings NNG (Trailblazer, Overthrust) 4.1 2.9 1.2 U 0.9 1.0 (0.1) 3.2 1.9 1.3 2.0 1.0 1.0 1.2 0.9 0.3 Citrus 32.8 35.0 (2.2) 13.5 19.5 (6.0) 19.3 15.5 3.8 11.2 9.0 2.2 8.1 6.5 1.6 Northern Border 7.1 5.6 1.5 3.1 2.2 0.9 4.0 3.4 0.6 2.2 1.7 0.5 1.8 1.7 0.1 EOTT 3.7 1.1 2.6 CC 0.1 5.0 (4.9) 3.6 (3.9) 7.5 1.2 (1.8) 3.0 2.4 (2.1) 4.5 Other - - - - - - - - - - - TOTAL 47 7 44 6 3 1 17 6 27.7 (10.11 30.1 16.9 13.2 16.6 9.9 6.7 13.5 7.0 6.5 . . . . Gains on Sales NNG (Overthrust/Kingman Land/Zavala) - 1.0 (1.0) - - - - 1.0 (1.0) - 1.0 (1.0) - - - NNG(Gomez) 0.5 - 0.5 (0.1) - (0.1) 0.6 - 0.6 0.6 - 0.6 - - - EOTT 10.0 - 10.0 DD 10.0 - 10.0 - - ' TW (Burton Flats) - - - 0.1 - 0.1 (0.1) (0.1) - - - (0.1) - (0.1) Mt. Belvieu sale - - - (0.8) (0.8) 0.8 - 0.8 0.8 - 0.8 - - 10 5 1 0 9 5 9.2 9.2 1.3 1.0 0.3 1.4 1.0 0.4 (0.1) - (0.1) . . . Other Income Interest Income 1.0 0.8 0.2 0.8 - 0.8 02 0.8 (0.6) 0.1 0.5 (0.4) 0.1 0.3 (0.2) TW speculative deal-FAS 133 adoption - - - (0.1) - (0.1) 0.1 - 0.1 - - - - 0.1 - 0.1 NNG speculative deal-FAS133 adoption 0.7 - 0.7 - - - 0.7 - 0.7 0.1 0.1 0.6 - 0.6 NNGCIACgrossup - - - - - - - - - (0.1) - (0.1) 0.1 - 0.1 NNGOverthrust 2000 - 1.0 (1.0) - - - 1.0 (1.0) - 0.1 (0.1) - 0.9 (0.9) NNG Conoco 2000 - (2.3) 2.3 - (0.3) 0.3 (2.0) 2.0 - (2.0) 2.0 - - - ENA swap 2000 - 14.7 (14.7) - - - - 14.7 (14.7) - 14.7 (14.7) - - - NNG (Cooper Cameron inventory sale) 11.0 (11.0) - 11.0 (11.0) - - - - - - - - EOTT 19.5 - 19.5 EE 10.5 10.5 9.0 9.0 9.0 - 9.0 - - - Other 2.7 2.1 0.6 2.3 4.4 (2.1) 0.4 (2.3) 2.7 0.8 (2.3) 3.1 (0.4) - (0.4) TOTAL 23.9 27.3 (3.4) 13.5 15.1 (1.6) 10.4 12.2 (1.8) 9.9 11.0 (1.1) 0.5 1.2 (0.7) IBIT 295.2 288.2 7.0 84.9 83.1 1.8 210.3 205.1 5.2 77.0 77.3 (0.3) 133.3 127.8 5.5 NNG 130.0 185.5 (55.5) 16.1 27.9 (11.8) 113.9 157.6 (43.7) 16.5 55.5 (39.0) 97A 102.1 (4.7) TW 91.3 73.1 18.2 29.1 30.9 (1.8) 62.2 42.2 20.0 33.9 20.9 13.0 28.3 21.3 7.0 Citrus 32.8 35.0 (2.2) 13.5 19.5 (6.0) 19.3 15.5 3.8 11.1 9.0 2.1 8.2 6.5 1.7 EOTT 32.0 1.7 30.3 19.7 4.9 14.8 12.3 (3.2) 15.5 10.2 (1.3) 11.5 2.1 (1.9) 4.0 Other Ops 9.1 (7.1) 16.2 6.5 (0.1) 6.6 2.6 (7.0) 9.6 5.3 (6.8) 12.1 (2.7) (0.2) (2.5) TOTAL BIT 295 2 288.2 7.0 84.9 83.1 1.8 210.3 205.1 5.2 77.0 77.3 (0.3) 133.3 127.8 5.5 . Interest Expense Int on 3rd party debt 29.0 29.9 (0.9) 10.2 9.5 0.7 18.8 20.4 (1.6) 9.4 9.9 (0.5) 9.4 10.5 (1.1) Other trade interest - - - 0.2 - 0.2 (0.2) - (0.2) (02) - (0.2) - - Capitalized interest - (0.5) 0.5 0.3 (0.3) 0.6 (0.3) (0.2) (0.1) (0.3) (0.1) (0.2) - (0.1) 0.1 Intexp-trade 29.0 29.4 (0.4) 10.7 9.2 1.5 18.3 20.2 (1.9) 8.9 9.8 (0.9) 9.4 10.4 (1.0) Interco interest (inc)/exp 54.9 (94.9) 149.8 13.2 (35.2) 48.4 41.7 (59.7) 101.4 53.1 (29.5) 82.6 (11.4) (30.2) 18.8 83.9 (65.5) 149.4 23.9 (26.0) 49.9 60.0 (39.5) 99.5 62.0 (19.7) 81.7 (2.0) (19.8) 17.8 EC46649AO030215 a3 EXH066-00497 ============= Page 25 of 49 ============= Enron Corp Enron Transportation Services (EGPG4) Detailed Variation Analysis 3rd Quarter 1Q A Increase due to higher transportation rates and entitlement units, partially offset by rate case adjustment recorded in 2000. B Increase due to higher sales volumes and prices as well as increased transportation volumes. C Increase due to revenues earned on services provided to EOTT and Mont Belvieu Storage (Co. 1A1) now in ETS rollup from Clean Fuels. D Increase due to increase in gas prices. E Increase due to higher SBA (system balancing agreement) expense, pipeline refunds in 2000 and timing of O&M expense. F Increase due to higher gas sales, partially offset by net over-retention. G Increase due to costs associated with services provided to EOTT and bonus expense of $1.5mm, consulting fees of $1.0mm and ex-pat deferred bonus payment of $1.2mm. H EOTT MLP 2 I Q Decrease primarily due to 2001 operational sales of $27.7M less than 2000 inventory sales of $51.2M.partially offset by increased storage revenues of $4.9M and commodity & reservation revenues of $1.6M. J Increase due to higher transportation and sales revenue. K Reclassification in 2nd Qtr of EPSC (Co. 1195) 1st Qtr revenues against O&M, partially offset by Mt. Belvieu Storage (Co. 1A1), now in ETS rollup from Clean Fuels. L Increase due to higher cost of volumes sold. M Cost of sales reclassed to O&M (fuel) for current year. (Corp. Acctg considered Immaterial to restate prior year to 0&M.) N Decrease due to O&M timing. 0 Reclassification in 2nd Qtr of Enron Pipeline Services Co 1st Qtr revenues against O&M (should have zero profit since it is a services co), plus 2000 additional O&M charges for bonuses/comp plans. P Includes Mt Belvieu Storage (Co. 1A1), now in ETS rollup from Clean Fuels. 0 Partial reversal of distribution reserve- R 2000 sales from inventory offset by 2001 operational sales and storage revenue S Higher cost of volumes sold T Higher SBA (system balancing agreement) expense, pipeline refunds in 2000, and timing of O&M expense. U Trailblazer imbalance cashout V Increased transportation rates and volumes flowing (West (13.3), East (1.4), Ignacio (1.7)), and higher prices and volumes on Linepack sales (8.7). W Cost of sales reclass to O&M for current year. X Increased 0&M costs (overhaul amortization (.3), Prewitt train derailment (.7). Gallup electrical costs (.5), San Juan pigging project (.4), Gallup pipeline section 5 repairs (.5). Power services group reorg (.5). exec. Cost reorg (.4)) and cost of sales reclass to O&M for current year. Y Increased transportation rates and volumes flowing (West (1.5), East (.5), Ignaclo(.3)) Z Cost of sales reclass to O&M for current year. AA Albuquerque region Gallup electrical costs (.3), executive costs due to reorganization (.1). other O&M costs (.6). and cost of sales from prior year (8.9) riot rectassed to 0&M fuel. BB Includes Mt. Belvieu Storage (10.1)- (now In ETS rollup; in Clean Fuels rollup in year 2000); Includes Enron P/L Construction Services revenues of 2.1 and Enron Asset Management Resources of.6 (companies didn't exist in 2000); increased revenues on Enron Machine and Mechanical (1.0), and decreased revenues on the Gulf Coast Operations companies (1.6) CC EOTT MLP DD Gain on EOTT sale EE Reserve reversal (19.0) on EOTT accounting entity ay EC466494030216 EXH066-00498 ============= Page 26 of 49 ============= Enron Corp Portland General (PGE4) Detailed Variation Analysis 3rd Quarter 9 mo Ended Sept 30 Th ird Quarter 6 Mo Ended June 30 Second Quarter First Quarter 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) IBIT Gross revenues PGG Retail & Other 1,000.6 780.3 220.3 342.9 247.8 95.1 657.7 532.5 125.2 370.7 249.4 121.3 287.0 283.1 3.9 PGG Wholesale 1,502.7 776.7 726.0 562.8 480.8 82.0 939.9 295.9 644.0 460.0 181.9 278.1 479.9 114.0 365.9 Gross revenues 2,503.3 1,557.0 946.3 905.7 728.6 177.1 1,597.6 828.4 769.2 830.7 431.3 399.4 766.9 397.1 369.8 Cost of sales PGG (2,028.5) (976.4) (1,052.1) (822.7) (522.5) (300.2) (1,205.8) (453.9) (751.9) (624.1) (251.4) (372.7) (581.7) (202.5) (379.2) Other - - - - Cost of sales (2,028.5) (976.4) (1,052.1) (822.7) (522.5) (300.2) (1,205.8) (453.9) (751.9) (624.1) (251.4) (372.7) (581.7) (202.5) (379.2) Gross margin 474.8 580.6 (105.8) 83.0 206.1 (123.1) R 391.8 374.5 17.3 206.6 179.9 26.7 K 185.2 194.6 (9.4) A Operating expenses (179.6) (186.9) 7.3 (52.9) (66.2) 13.3 S (126.7) (120.7) (6.0) (76.5) (61.3) (15.2) L (50.2) (59.4) 9.2 B DD&A (incl fair value) (137.5) (151.8) 14.3 (31.5) (59.3) 27.8 T (106.0) (92.5) (13.5) (54.7) (46.2) (8.5) M (51.3) (46.3) (5.0) C Taxes, other (49.3) (51.6) 2.3 (15.1) (18.4) 3.3 U (34.2) (33.2) (1.0) (17.4) (15.3) (2.1) N (16.8) (17.9) 1.1 Equity in earnings of unconsol - 1.6 (1.6) - (0.9) 0.9 V - 2.5 (2.5) - 1.2 (1.2) 0 - 1.3 (1.3) D Other income, net - Customer Choice - 31.0 (31.0) - - - - 31.0 (31.0) - - - - 31.0 (31.0) E TOLI (18.2) 7.4 (25.6) (12.0) (3.9) (8.1) W (6.2) 11.3 (17.5) 4.2 0.6 3.6 P (10.4) 10.7 (21.1) F BPC stock sale - 5.7 (5.7) - - - - 5.7 (5.7) - - - - 5.7 (5.7) Stock agreement - (11.5) 11.5 - - - - (11.5) 11.5 - - - - (11.5) 11.5 Gain on sale of Coyote II - 10.6 (10.6) - 10.6 (10.6) - - - - - - - - Gain on Seneca Partnership - Trojan valuation NEIL settlement Onieda leasing rental income 7.4 - 7.4 3.4 - 3.4 4.0 - 4.0 1.5 - 1.5 2.5 - 2.5 AFUDC equity 2.8 - 2.8 - - - 2.8 - 2.8 1.6 - 1.6 1.2 - 1.2 Other 7.3 6.3 1.0 7.9 5.8 2.1 X (0.6) 0.5 (1.1) (0.4) 3.4 (3.8) Q (0.2) (2.9) 2.7 G IBIT 107.7 241.4 (133.7) (17.2) 73.8 (91.0) 124.9 167.6 (42.7) 64.9 62.3 2.6 60.0 105.3 (45.3) Less reclass of gain on Seneca - - Adjusted IBIT 107.7 241.4 (133.7) (17.2) 73.8 (91.0) 124.9 167.6 (42.7) 64.9 62.3 2.6 60.0 105.3 (45.3) Interest Expense Int on 3rd party debt 55.6 48.0 7.6 18.5 16.8 1.7 37.1 31.2 5.9 18.2 16.7 1.5 18.9 14.5 4.4 H Other trade interest - 6.4 (6.4) - 1.6 (1.6) - 4.8 (4.8) - 1.5 (1.5) - 3.3 (3.3) I Capitalized interest (2.4) (2.4) (1.0) (1.0) (1.4) (1.4) (0.7) (0.8) 0.1 (0.7) (0.6) (0.1) Intexp-trade 53.2 52.0 1.2 17.5 17.4 0.1 35.7 34.6 1.1 17.5 17.4 0.1 18.2 17.2 1.0 Interco interest (inc)/exp (14.4) (1.4) (13.0) (3.9) (0.4) (3.5) (10.5) (1.0) (9.5) (4.4) (0.5) (3.9) (6.1) (0.5) (5.6) J 38.8 50.6 (11.8) 13.6 17.0 (3.4) 25.2 33.6 (8.4) 13.1 16.9 (3.8) 12.1 16.7 (4.6) EC46649AO030217 a5 EXH066-00499 ============= Page 27 of 49 ============= Enron Corp Portland General (PGE4) Detailed Variation Analysis 3rd Quarter 1Q A Gross margin decreased due to significantly high cost market combined with lower hydro generation and higher gas prices and $8.8mm trading reserve. B Decrease due to capitalization of delivery system costs and lower restoration costs of ($6)mm, ($4)mm Corp lower O/H, ($3.8)mm employee benefit costs, and $2.4mm 2000 Colstrip cost of sale provision, offset by higher energy efficiency expenditures of $ 1.4mm and $5mm non-recurring NEIL refunds. C Deprec/Amort expense increased $5 mm due to $5mm lower credit amortizations resulting from Sept. 2000 Trojan b/s offset. D Decrease due to Seneca partnership terminated in 2000 E Decrease due to reversal of purchase accounting reserve for Customer Choice recorded in 2000. F TOLI loss due to market downturn G Increase in Other, Net due to non-recurring 2000 Y2K amortization of $2mm and $tmm AFDC Equity. H Interest paid on trading deposits $2.Bmm, $1.8mm more debt outstanding at higher interest I Lower commercial paper outstanding compared to 2000 J No current year interest on PGH borrowings from Corp., except interest income on merger obligation (resulting from 9/00 Trojan offset) and Oneida balance outstanding. 20 K Increase due to wholesale sales at higher prices offset by higher cost of sales and lower hydro generation. L O&M increase due to higher maintanence costs of $3mm, energy efficiency costs of $2.5mm capitalized in 2000, increase Corp O/H $2.7mm (Q1 catch up), S81 149 costs $1 .5mm,$3.4mm termination fee to GATX Capital Corp., increase from prior year purchase acctg for merger MOU $3.4mm, offset by lower T&D restoration costs of $1mm. M Deprc/Amort expense increased due to $2mm lower credit amortizations from 9/00 Trojan B/S offset, $3mm Oneida leasing portfolio, $3.4mm new power cost adjustment mechanism, & $2mm lower DSM bond amort, offset by $2.2mm deferral Senate Bill 1149 expense. N Increase due to adjustment for miscellaneous other taxes. 0 Seneca partnership terminated in 2000. P TOLI gain - upturn in market. Q Decrease due to $4.2mm partial Sullivan reserve reversal in 2000, offset by $1.6mm merger receivable interest income. 3Q R GM decrease due to higher cost of sales and lower hydro generation offset by wholesale sales at higher prices. S O&M decrease due to $4.5mm labor loading adjustment, prior year $2.3mm WOEC termination payment, $1.8mm Colstrip cost of sale reserve reversal, reversal of purch. Acctg. Accruals of $6mm, reversal of PGH severance & legal accruals of $5mm, offset by energy efficiency costs of $2.5mm capitalized in 2000, and $3.5mm compact fluorescent light coupon campaign. T Deprc/Amort expense decrease due to $1mm lower DSM bond amortization, $12.1mm SAVE program true up (previously recorded in revenue), and $7.7 FAS 133/FAS 71 deferral offset by $3mm Oneida leasing depr and $2.7mm lower credit amortization resulting from prior year Trojan b/s offset U Decrease due to lower FICA on stock options V Seneca partnership terminated in 2000 W TOLI loss - downturn in market Q3 X Increase due to $3mm carrying cost income on power cost adjustment, $2mm reversal of CIS fee accrued in 2000, offset by $2.4mm prior year Trojan settlement C? (0 EC46649AO030218 EXH066-00500 ============= Page 28 of 49 ============= Enron Corp Enron Transportation Services (EGPG4) Detailed Variation Analysis 3rd Quarter 9 mo Ended Sept 30 Third Quarter 6 Mo Ended June 30 Second Quarter First Quarter 2001 2000 Incr (Dev) 2001 2000 Incr (Decr) 2001 2000 Incr (De20 2001 2000 Incr (Decr) 2001 2000 Incr (Decr Revenues NNG 362.7 367.6 (4.9) R 79.8 80.2 (0.4) 282.9 287.4 (4.5) 107.9 121.6 (13.7) 175.0 165.8 9.2 TW 156.4 131.0 25.4 V 51.2 48.4 2.8 Y 105.2 82.6 22.6 46.6 43.3 3.3 58.6 393 19.3 Other Ops 15.0 2.8 12.2 88 6.8 t.2 5.6 8.2 1.6 6.6 (3.7) 0.8 (4.5) 11.9 0.8 11.1 534.1 501.4 32.7 137.8 129.8 8.0 396.3 371.6 24.7 150.8 165.7 (14.9) 245.5 205.9 39.6 Cost of Sales NNG 33.6 12.3 21.3 S 1.3 1.2 0.1 32.3 11.1 21.2 29.6 10.3 19.3 2.7 0.8 1.9 TW - - - W - - - Z - - - - - - - - - Other Ops 0.1 - 0.1 - - 0.1 0.1 0.1 - 0.1 - 33.7 12.3 21.4 1.3 1.2 0.1 32.4 11.1 21.3 29.7 10.3 19.4 2.7 0.8 1.9 Gross Margin NNG 3291 355.3 (26.2) 78.5 79.0 (0.5) 250.6 276.3 (25.7) 78.3 111.3 (33.0) 172.3 1650 7.3 TW 1564 131.0 25.4 51.2 48.4 2.8 105.2 82.6 22.6 46.6 43.3 3.3 58.6 393 19.3 Other P/L Ops 14.9 2.8 12.1 6.8 1.2 5.6 8.1 1.6 6.5 (3.8) 0.8 (4.6) 11.9 0.8 11.1 500.4 489.1 11.3 136.5 128.6 7.9 363.9 3605 3.4 121.1 155.4 (34.3) 242.8 205.1 37.7 Operating Expenses (incl taxes) NNG 170.9 164.6 6.3 T 52.5 53.5 (1.0) 118.4 111.1 73 53.2 57.5 (4.3) 652 53.6 11.6 TW 50.5 45.6 4.9 X 174 15.1 2.3 AA 33.1 30.5 26 7.6 17.3 (9.7) 25.5 13.2 12.3 EOTT 0.2 0.1 0.1 (0.3) (0.2) (0.1) 0.5 0.3 02 0.5 0.1 0.4 - 0.2 (0.2) Other Ops 14.7 14.4 0.3 4.9 3.4 1.5 9.8 11.0 (1.2) (6.2) 8.4 (14.6) 16.0 2.6 13.4 NNG - depreciation 35.1 34.8 0.3 11.9 12.0 (0.1) 23.2 22.8 04 11.6 11.7 (0.1) 11.6 11.1 0.5 TW - depreciation 14.7 14.3 0.4 4.9 4.5 0.4 9.8 9.8 - 5.0 5.0 - 4.8 4.8 - Other Ops-depreciation 1.2 1.2 0.6 0.6 0.6 0.6 0.3 0.3 0.3 - 0.3 287.3 273.8 13.5 91.9 88.3 3.6 195.4 185.5 9.9 72.0 100.0 (28.0) 123.4 85.5 37.9 Operating Income 213.1 215.3 (2.2) 44.6 40.3 4.3 168.5 175.0 (6.5) 49.1 55.4 (6.3) 119.4 119.6 (0.2) Equity Earnings NNG (Trailblazer, Overthrust) 4.1 2.9 1.2 U 0.9 1.0 (0.1) 3.2 1.9 1.3 2.0 1.0 1.0 1.2 0.9 0.3 Citrus 32.8 35.0 (2.2) 13.5 19.5 (6.0) 19.3 15.5 3.8 111 9.0 2.2 8.1 6.5 1.6 Northern Border 7.1 5.6 1.5 3.1 2.2 0.9 4.0 3.4 06 2.2 1.7 0.5 1.8 1.7 0.1 EOTT 3.7 1.1 2.6 CC 0.1 5.0 (4.9) 3.6 (3.9) 7.5 1.2 (1.8) 3.0 2.4 (2.1) 4.5 Other TOTAL 47.7 44.6 3.1 17.6 27.7 (10.1) 30.1 16.9 13.2 16.6 9.9 6.7 13.5 7.0 6.5 Gains on Sales NNG (Overthrust/Kingman Land/Zavala) - 1.0 (1.0) - - - - 1.0 (1.0) - 1.0 (1.0) - - - NNG (Gomez) 0.5 - 0.5 (0.1) - (0.1) 0.6 - 0.6 0.6 - 0.6 - - - EOTT 10.0 - 10.0 DD 10.0 - 10.0 - - - - - - - - - TW (Burton Flats) - - - 0.1 - 0.1 (0.1) - (0.1) - - - (0.1) - (0.1) Mt. Belvieu sale (0.8) (0.8) 0.8 0.8 0.8 0.8 10.5 1.0 9.5 9.2 9.2 1.3 1.0 0.3 1.4 1.0 0.4 (0.1) (0.1) Other Income Interest Income 1.0 0.8 0.2 0.8 - 0.8 0.2 0.8 (0.6) 0.1 0.5 (04) 0.1 0.3 (0.2) TW speculative deal-FAS 133 adoption - - - (0.1) - (0.1) 0.1 - 01 - - - 0.1 - 0.1 NNG speculative deal-FAS133 adoption 0.7 - 0.7 - - - 07 - 0.7 0.1 - 0.1 0.6 - 0.6 NNG CIAC grossup - - - - - - - - (0.1) (0.1) 0.1 - 0.1 NNG Overthrust 2000 - 1.0 (1.0) - - - - 1.0 (1.0) - 01 (0.1) - 0.9 (0.9) NNG Conoco 2000 - (2.3) 2.3 - (0.3) 0.3 - (2.0) 2.0 - (2.0) 2.0 - - - ENA swap 2000 - 14.7 (14.7) - - - - 14.7 (14.7) - 14.7 (14.7) - - - NNG ( Cooper Cameron inventory sale) 11.0 (11.0) - 11.0 (11.0) - - - - - - - - - EOTT 19.5 - 19.5 EE 10.5 10.5 90 9.0 9.0 - 9.0 - - - Other 2.7 2.1 0.6 2.3 4.4 (2.1) 0.4 (2.3) 2.7 0.8 (2.3) 3.1 (0.4) (0.4) TOTAL 23.9 27.3 (3.4) 13.5 15.1 (1.6) 10.4 12.2 (1.8) 9.9 11.0 (1.1) 0.5 1.2 (0.7) IBIT 295.2 288.2 7.0 84.9 83.1 1.8 210.3 205.1 5.2 77.0 77.3 (0.3) 133.3 127.8 5.5 NNG 130.0 185.5 (55.5) 16.1 27.9 (11.8) 113.9 157.6 (43.7) 16.5 55.5 (39.0) 97.4 102.1 (4.7) TW 91.3 73.1 18.2 29.1 30.9 (1.8) 62.2 42.2 20.0 33.9 20.9 13.0 28.3 21.3 7.0 Citrus 32.8 35.0 (2.2) 13.5 19.5 (6.0) 19.3 155 3.8 11.1 9.0 2.1 8.2 6.5 1.7 EOTT 32.0 1.7 30.3 19.7 4.9 14.8 12.3 (3.2) 15.5 10.2 (1.3) 11.5 2.1 (1.9) 4.0 Other Ops 9.1 (7.1) 16.2 6.5 (0.1) 6.6 2.6 (7.0) 9.6 5.3 (6.8) 12.1 (2.7) (0.2) (2.5) TOTAL IBIT 295.2 288.2 7.0 84.9 83.1 1.8 210.3 205.1 5.2 77.0 77.3 (0.3) 133.3 127.8 5.5 Interest Expense Int on 3rd party debt 29.0 29.9 (0.9) 10.2 9.5 0.7 18.8 20.4 (1.6) 9.4 9.9 (0.5) 9.4 10.5 (1.1) Other trade interest - - - 0.2 - 0.2 (0.2) - (0.2) (0.2) - (0.2) - - - Capitalized interest - (0.5) 0.5 0.3 (0.3) 0.6 (0.3) (0.2) (0.1) (0.3) (0.1) (0.2) - (0.1) 0.1 Int cup- trade 29.0 29.4 (0.4) 10.7 9.2 1.5 18.3 20.2 (1.9) 8.9 9.8 (0.9) 9.4 10.4 (1.0) Interco interest (inc)/exp 54.9 (94.9) 149.8 13.2 (35.2) 48.4 41.7 (59.7) 101.4 53.1 (29.5) 82.6 (11.4) (30.2) 18.8 83.9 (65.5) 149.4 23.9 (26.0) 49.9 60.0 (39.5) 99.5 62.0 (19.7) 81.7 (2.0) (19.8) 17.8 EC46649AO030219 aI EXH066-00501 ============= Page 29 of 49 ============= Enron Corp Enron Transportation Services (EGPG4) Detailed Variation Analysis 3rd Quarter ID A Increase due to higher transportation rates and entitlement units, partially offset by rate case adjustment recorded in 2000. 8 Increase due to higher sales volumes and prices as well as increased transportation volumes. C Increase due to revenues earned on services provided to EOTT and Mont Belvieu Storage (Co. tA1) now in ETS rollup from Clean Fuels. D Increase due to increase in gas prices. E Increase due to higher SBA (system balancing agreement) expense, pipeline refunds in 2000 and timing of O&M expense. F Increase due to higher gas sales, partially offset by net over-retention. G Increase due to costs associated with services provided to EOTT and bonus expense of $1.5mm, consulting fees of $1.0mm and ex-pat deferred bonus payment of $1 .2mm. H EOTT MLP 2 I Q Decrease primarily due to 2001 operational sales of $27.7M less than 2000 inventory sales of $51.2M.partially offset by increased storage revenues of $4.9M and commodity & reservation revenues of $1.6M. J Increase due to higher transportation and sales revenue. K Reclassification in 2nd Qtr of EPSC (Co. 1195) 1st Qtr revenues against O&M, partially offset by Mt. Belvieu Storage (Co. 1A1), now in ETS rollup from Clean Fuels. L Increase due to higher cost of volumes sold. M Cost of sales reclassed to O&M (fuel) for current year. (Corp. Acctg considered immaterial to restate prior year to O&M.) N Decrease due to O&M timing. 0 Reclassification in 2nd Qtr of Enron Pipeline Services Co 1st Qtr revenues against O&M (should have zero profit since it is a services co), plus 2000 additional O&M charges for bonuses/comp plans. P Includes Mt. Belvieu Storage (Co. 1A1), now in ETS rollup from Clean Fuels. Q Partial reversal of distribution reserve. R 2000 sales from inventory offset by 2001 operational sales and storage revenue S Higher cost of volumes sold T Higher SBA (system balancing agreement) expense, pipeline refunds in 2000, and timing of O&M expense. U Trailblazer imbalance cashout V Increased transportation rates and volumes flowing (West (13.3), East (1.4), Ignacio (1.7)), and higher prices and volumes on Linepack sales (8.7). W Cost of sales reclass to O&M for current year. X Increased O&M costs (overhaul amortization (.3), Prewitt train derailment (.7), Gallup electrical costs (.5), San Juan pigging project (.4), Gallup pipeline section 5 repairs (.5), Power services group reorg (.5), exec. Cost reorg (.4)) and cost of sales reclass to O&M for current year. Y Increased transportation rates and volumes flowing (West (1.5), East (.5), Ignacio(.3)) Z Cost of sales reclass to O&M for current year. AA Albuquerque region Gallup electrical costs (.3), executive costs due to reorganization (.1), other O&M costs (.6), and cost of sales from prior year (8.9) not reclassed to O&M fuel. 8B Includes Mt. Belvieu Storage (10.1) - (now in ETS rollup; in Clean Fuels rollup in year 2000); includes Enron P/L Construction Services revenues of 2.1 and Enron Asset Management Resources of.6 (companies didn't exist in 2000); increased revenues on Enron Machine and Mechanical (1.0), and decreased revenues on the Gulf Coast Operations companies (1.6) CC EOTT MLP DD Gain on EOTT sale EE Reserve reversal (19.0) on EOTT accounting entity as EC46649AO030220 EXH066-00502 ============= Page 30 of 49 ============= Enron Corp Retail Energy Services (RETAIL4) Detailed Variation Analysis 3rd Quarter IBIT Gross revenues Gas sales Power sales Originations EFS Outsource/EAM/Other Enron Direct Canada EES Europe (100%) Total Gross revenues Cost of sales Gas Power EFS Outsource/EAM/Other Enron Direct Canada EES Europe (100%) Total cost of sales Gross margin Gas sales Power sales Originations (granted from Wholesale EES) Facilities Services Outsource & Other Enron Direct Canada EES Europe (100%) Total Gross margin Operating expenses Deprec & amort Taxes, other Equity in Unconsol. Affiliates Gain on sale of Resco warrants Loss on sale of ServicCo investment Other income, net IBIT before Min.lnt, 9 mo Ended Sept 30 Third Quarter 6 Mo Ended June 30 Second Quarter First Quarter 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 311.4 333.4 (22.0) 0.4 3.8 (3.4) 447.2 207.6 239.6 559.8 459.1 100.7 102.3 34.2 68.1 7.3 - 7.3 323.0 231.4 91.6 1,751.4 1,269.5 481.9 (313.6) (328.7) 15.1 (0.4) (16.1) 15.7 (484.2) (387.7) (96.5) (72.4) (37.7) (34.7) (4.2) - (4.2) (209.0) (164.9) (44.1) (1,083.8) (935.1) (148.7) (2.2) 4.7 (6.9) - (12.3) 12.3 447.2 207.6 239.6 75.6 71.4 4.2 29.9 (3.5) 33.4 3.1 - 3.1 114.0 66.5 47.5 667.6 334.4 333.2 (463.2) (273.6) (189.6) (29.2) (26.3) (2.9) (11.0) (11.0) - (45.2) (31.9) (13.3) 50.0 74.3 (24.3) (2.5) - (2.5) 4.0 12.6 (8.6) 170.5 78.5 92.0 (7.4) 158.0 (165.4) - 3.5 (3.5) 151.3 71.9 79.4 196.4 188.8 7.6 63.0 25.7 37.3 2.7 - 2.7 95.4 87.2 8.2 501.4 535.1 (33.7) 5.8 (154.4) 160.2 - (16.1) 16.1 (168.1) (152.4) (15.7) (33.9) (26.0) (7.9) (1.9) - (1.9) (62.7) (56.7) (6.0) (260.8) (405.6) 144.8 (1.6) 3.6 (5.2) - (12.6) 12.6 151.3 71.9 79.4 28.3 36.4 (8.1) 29.1 (0.3) 29.4 0.8 - 0.8 32.7 30.5 2.2 240.6 129.5 111.1 (139.4) (109.5) (10.1) (9.0) (2.6) (6.5) (17.0) (14.9) - 29.3 (2.5) - 2.0 8.1 71.0 27.0 318.8 175.4 143.4 0.4 0.3 0.1 295.9 135.7 160.2 363.4 270.3 93.1 39.3 8.5 30.8 4.6 - 4.6 227.6 144.2 83.4 1,250.0 734.4 515.6 (319.4) (174.3) (145.1) (0.4) - (0.4) (316.1) (235.3) (80.8) (38.5) (11.7) (26.8) (2.3) - (2.3) (146.3) (108.2) (38.1) (823.0) (529.5) (293.5) (0.6) 1.1 (1.7) - 0.3 (0.3) L 295.9 135.7 160.2 47.3 35.0 12.3 M 0.8 (3.2) 4.0 2.3 - 2.3 81.3 36.0 45.3 427.0 204.9 222.1 (29.9) N (323.8) (1.1) (19.1) 3.9 (8.4) (2.1) 0 (28.2) (29.3) P 50.0 (2.5) - (6.1) Q 2.0 44.0 99.5 (164.1) (159.7) (17.3) (1.8) (4.5) (3.9) (17.0) (11.2) 45.0 5.0 4.5 (2.5) 51.5 48.0 69.8 113.5 (43.7) 0.2 0.3 (0.1) 156.6 100.6 56.0 187.2 137.1 50.1 27.5 4.0 23.5 4.6 - 4.6 111.5 65.3 46.2 557.4 420.8 136.6 (69.3) (113.0) 43.7 (162.6) (121.3) (41.3) (25.3) (9.9) (15.4) (2.3) - (2.3) (68.7) (51.0) (17.7) (328.2) (295.2) (33.0) 249.0 61.9 187.1 0.2 - 0.2 139.3 35.1 104.2 176.2 133.2 43.0 11.8 4.5 7.3 116.1 78.9 37.2 692.6 313.6 379.0 (250.1) (61.3) (188.8) (0.4) - (0.4) (153.5) (114.0) (39.5) (13.2) (1.8) (11.4) (77.6) (57.2) (20.4) (494.8) (234.3) (260.5) 0.5 0.5 0.0 (1.1) 0.6 (1.7) 0.2 0.3 (0.1) (0.2) - (0.2) 156.6 100.6 56.0 F 139.3 35.1 104.2 A 24.6 15.8 8.8 22.7 19.2 3.5 2.2 (5.9) 8.1 G (1.4) 2.7 (4.1) 2.3 - 2.3 - - - 42.8 14.3 28.5 H 38.5 21.7 16.8 B 229.2 125.6 103.6 197.8 79.3 118.5 (165.4) (80.5) (84.9) 1 (10.3) (8.2) (2.1) (3.0) (1.9) (1.1) (13.3) (18.9) 5.6 J 20.0 25.0 (5.0) K 2.6 4.6 (2.0) 59.8 45.7 14.1 (158.4) (83.6) (74.8) C (8.8) (9.1) 0.3 (5.4) (2.6) (2.8) (14.9) 1.9 (16.8) D 30.0 20.0 10.0 E (0.6) (0.1) (0.5) 39.7 5.8 33.9 Minority Interest in EES - - - - (0.3) 0.3 - 0.3 (0.3) - 0.1 (0.1) - 0.2 (0.2) Total IBIT 170.5 78.5 92.0 71.0 26.7 44.3 99.5 51.8 47.7 59.8 45.8 14.0 39.7 6.0 33.7 Interest Expense Int on 3rd party debt Other trade interest Capitalized interest Interco interest (inc)lexp 25.3 22.0 3.3 24.8 24.9 (0.1) 1.5 1.7 (0.2) 0.4 (0.4) 1.5 2.1 (0.6) (0.8) 1.2 (2.0) 0.5 - 0.5 (1.7) (0.4) (1.3) (2.0) 0.8 (2.8) 7.8 16.9 (9.1) 17.5 5.1 12.4 9.3 19.0 (9.7) 15.5 5.9 9.6 (0.9) 1.3 (2.2) 0.2 - 0.2 (1.7) (0.3) (1.4) (2.4) 1.0 (3.4) 15.7 5.1 10.6 13.3 6.1 7.2 0.1 (0.1) 0.2 0.3 - 0.3 (0.1) 0.1 0.4 (0.2) 0.6 1.8 1.8 2.2 (0.2) 2.4 EC46649AO030221 1101 0.7 2.9 (2.2) 0.5 - 0.5 (1.7) (1.7) Int exp - trade (0.5) 2.9 (3.4) EXH066-00503 ============= Page 31 of 49 ============= Enron Corp Retail Energy Services (RETAIL4) Detailed Variation Analysis 3rd Quarter Blue highlight: this figure was changed AFTER final packet was sent to IR. Gary Pang was made aware of this. 1Q A Mark to Market (Gas and Power) gross margin represents origination on deals closed in the quarter. Significant deals closed in 1001 include: Quaker Oats $23.6mm, JC Penney $7.6mm, Saks $4.2mm, Verizon $7.5mm, Maine Electricity Consumer Cooperative $20.6mm, OCM BOCES $11.2mm, Owens Illinois $7.4mm, Ohio MSG $5.2mm, Pilkington DSM $4.2mm and OCM NYSEG $4.6mm. The remainder of the margin relates to Mass Market Gas $ and other deals totalling $27.5mm. B Change in Europe's margin reflects an increase of $23mm reflecting the growth in Europe's retail business. This increase is offset by $6mm of ETOL margin included in 1000, versus $0 ETOL margin in 1001. ETOL was transferred to Wholesale in 4000. C Operating expense increased as follows: Europe $7mm, EFS $ 5mm, 2000 bonus underaccrual $10mm, IBM IT costs $7mm, commissions $6mm, payroll and other employee-related expenses $20mm, bad debt expense $5mm, legal $ other Outside Services of $16mm. D Equity loss in earnings of TNPC was $14.9mm in 1Q01. No equity loss was recorded in 1000. $1.9mm in 2000 reflects Europe ETOL equity earnings. E Gain on sale of TNPC warrants in IQ01 represents a larger amount of warrants monetized versus prior year. 2Q F Includes commodity and DSM origination on deals. Significant deals closed in the quarters include: IBM restructuring $31.9 mm, Park Place Entertainment $14.4 mm, Home Depot $9.1, Harrah's $5.8mm, gas deals $20 mm, and other deals totalling approx. $47mm. Also includes $33.9 mm gain recognized in connection with the monetization of "A" and "C" interest in LE Heston LLC (Eli Lilly LLC); and ($5.1) Q1 Quaker topside reclass from Cost of Sales . G Includes Energy Asset Management (EAM) activities: EAM value changes, Asset OPS, and IPT call center services. H Reflects Europe's continued growth in the retail/outsource business. Significant deal signed in Q2: Sainsbury $6 mm. Prior year includes ($11 mm) of losses related to ETOL. ETOL not part of EES Europe in 2001. I Operating expenses increased versus prior year Q2 as follows: Europe $9 mm, IBM/IT services $13mm, bonus $10 mm, commissions $10 mm, salaries/severance/other employee related expenses $35 mm; also 2000 includes a $16 mm allocation of expenses out of EES Retail to Wholesale EES for risk management support services; no allocation made in 02 2001. J Equity loss in earnings of TNPC was $13.3mm in 2001 and $18.5mm in 2000. K Monetization of TNPC warrants (Raptor note). 3Q L Includes commodity and DSM origination on deals. Significant deals closed in the quarters include: Quebecor $8 mm, Walmart $12 mm, Rexam East $11, Raytheon $9, Jack in the Box $8 mm, City of Chicago $8 mm, Speiker-Califomia $5 mm, Toys R us $5 mm, Sysco $4 mm, and other deals net $81 mm. M Includes $21.4 mm gain related to the monetization of 5 % interest in ServiceCo. Also includes Energy Asset Management (EAM) activities: DSM value changes, Asset OPS, and IPT call center services and other general transactions, N Operating expenses increased versus prior year 03 as follows: Europe $4 mm, increase in IT costs of $5 mm, and other net of $3; Additionally 2000 reflects reduction of expenses for $18 mm allocation of expenses out of EES Retail to Wholesale EES for risk management support services; no allocation made in Q3 2001. 0 Equity loss in earnings of TNPC (estimate) $17.mm in 3001 and $17.0 mm in 3000. Europe (Teeside) had $2.1mm of equity income in3000. P No monetization of TNPC warrants (Raptor note) in Q3 2001. Q Other in prior year included some items (EFS) that we not properly classified as a result of the SAP implemention. 30 EC46649A0030222 EXH066-00504 ============= Page 32 of 49 ============= Enron Corp Enron Broadband Services (ECI4) Detailed Variation Analysis 3rd Quarter 9 mo Ended Sept 30 Third Quarter 6 Mo Ended June 30 Second Quarter First Quarter 2001 2000 Incr(Decr) 2001 2000 Incr(Decr) 2001 2000 Incr(Decr) 2001 2000 lncr(Decr) 2001 2000 Incr (Decr) IBIT Gross revenues Dark fiber sales 2.7 173.7 (171.0) (16.2) 16.2 A 2.7 189.9 (187.2) 2.2 152.4 (150.2) A 0.5 37.5 (37.0) A Software sales - 10.0 (10.0) - - - - 10.0 (10.0) - - - - 10.0 (10.0) B Merchant Investments (62) 157.1 (163.3) - 149.9 (149.9) (8.2) 7.2 (13.4) (0.6) (4.2) 3.6 (5.6) 11.4 (17.0) C Content Services (52.9) 0.7 (53.6) (111.6) 0.3 (111.9) K 58.7 0.4 58.3 0.1 0.2 (0.1) 58.6 0.2 58.4 D Contract Originations 3.8 2.6 1.2 - 0.5 (0.5) 3.8 2.1 1.7 - 2.1 (2.1) 3.8 3.8 E Trading 26.2 26.2 (3.1) (3.1) 29.3 - 29.3 9.2 - 9.2 20.1 - 20.1 Europe 6.9 6.9 1.5 1.5 5.4 - 5.4 5.4 - 5.4 - - - Equipment - - - - - Other 11.0 1.4 9.6 5.8 1.4 4.4 5.2 - 5.2 (0.5) (0.5) 5.7 - 5.7 Total Gross revenues 5) (8 345 5 (354 0) 4) (107 135.9 (243.3) 98.9 209.6 (110.7) 15.8 150.5 (134.7) 83.1 59.1 24.0 . . . . Cost of sales Dark fiber sales (4.8) (50.5) 45.7 (0.1) 27.7 (27.8) A (4.7) (78.2) 73.5 (4.6) (70.4) 65.8 A (0.1) (7.8) 7.7 Software sales - - - - - - - - - - - Merchant Investments - - - - - - - - - - - Content Services (0.7) (5.2) 4.5 0.9 (1.4) 2.3 (1.6) (3.8) 2.2 (1.6) (3.8) 2.2 - - - Contract Originations - - - Trading (44.3) (44.3) (4.3) - (4.3) (40.0) - (40.0) (13.4) (13.4) (26.6) - (26.6) Europe (5.5) (5.5) (1.2) - (1.2) (4.3) - (4.3) (4.3) (4.3) - - - Equipment - - - - Other (3.3) (8.5) 5.2 (3.0) (8.1) 5.1 (0.3) (0.4) 0.1 1.9 (0.4) 2.3 (2.2) (2.2) Total cost of sales (58.8) (64.2) 5.6 (7.7) 18.2 (25.9) (50.9) (82.4) 31.5 (22.0) (74.6) 52.6 (28.9) (7.8) (21.1) Gross margin Dark fiber sales (2.1) 123.2 (125.3) (0.1) 11.5 (11.6) (2.0) 111.7 (113.7) (2.4) 82.0 (84.4) 0.4 29.7 (29.3) Software sales - 10.0 (10.0) - - - 10.0 (10.0) - - - - 10.0 (10.0) Merchant Investments (8.2) 157.1 (163.3) - 149.9 (149.9) (6.2) 7.2 (13.4) (0.6) (42) 3.8 (5.6) 11.4 (17.0) Content Services (53.6) (4.5) (49.1) (110.7) (1.1) (109.6) 57.1 (3.4) 60.5 (1.5) (3.6) 2.1 58.6 0.2 58.4 Contract Originations 3.8 2.8 1.2 - 0.5 (0.5) 3.8 2.1 1.7 - 2.1 (2.1) 3.8 - 3.8 Trading (18.1) - (18.1) (7.4) - (7.4) (10.7) - (10.7) (4.2) - (4.2) (6.5) - (6.5) Europe 1.4 - 1.4 0.3 - 0.3 1.1 - 1.1 1.1 - 1.1 - - Equipment - - - - - Other 7.7 (7.1) 14.8 2.8 (6.7) 9.5 4.9 (0.4) 5.3 1.4 (0.4) 1.8 3.5 3.5 Total Gross margin (67 1) 281.3 (348.4) (115.1) 154.1 (269.2) 48.0 127.2 (79.2) (6.2) 75.9 (82.1) 54.2 51.3 2.9 . Operating expenses (277.4) (240.5) (36.9) (134.7) (119.2) (15.5) (142.7) (121.3) (21.4) (73.1) (74.3) 1.2 (69.6) (47.0) (22.6) F Deprec&amort (113.5) (63.2) (50.3) (83.0) (52,0) (31.0) L (30.5) (11.2) (19.3) (16.5) (8.3) (8.2) G (14.0) (2.9) (11.1) G Taxes, other (13.1) (8.6) (4.5) (0.9) (4.0) 3.1 (12.2) (4.6) (7.8) (4.1) (2.6) (1.5) I (8.1) (2.0) (6.1) H Other income, net (23.0) 2.7 (25.7) (23.4) 1.1 (24.5) M 0.4 1.6 (1.2) (2.1) 1.3 (3.4) J 2.5 0.3 2.2 IBIT (494.1) (28.3) (465.8) (357.1) (20.0) (337.1) (137.0) (8.3) (128.7) (102.0) (8.0) (94.0) (35.0) (0.3) (347) EBS Write offs (277 0) (277.0) (277.0) (277.0) . Adj for Non-Recurring Charges (217.1) (28.3) (188.8) (80.1) (20.0) (60.1) (137.0) (8.3) (128.7) (102.0) (8.0) (94.0) (35.0) (0.3) (34.7) Interest Ex ense Int on 3rd party debt 3.9 - 3.9 1.9 - 1.9 2.0 - 2.0 0.9 - 0.9 1.1 1.1 Other trade interest 0.2 (0.2) - 0.1 (0.1) - 0.1 (0.1) - 0.1 (0.1) - - - Capitalized interest (7.8) (7.8) - (7.8) - (7.8) (1.1) - (1.1) (6.7) (6.7) Int exp - trade (3.9) 0.2 (4.1) 1.9 0.1 1.8 (5.8) 0.1 (5.9) (0.2) 0.1 (0.3) (5.6) - (5.6) Interco interest (inc)/exp 2.7 20.1 (17.4) 0.5 11.0 (10.5) 2.2 9.1 (6.9) 2.3 6.1 (3.8) (0.1) 3.0 (3.1) (1.2) 20.3 (21.5) 2.4 11.1 (8.7) (3.6) 9.2 (12.8) 2.1 8.2 (4.1) (5.7) 3.0 (8.7) A Fiber routes were essentially complete at year-end- B Software sale to Inktomi in 2000. C Decrease due primarily to decline in Avici, Equinix and Mshow investments. D Monetization of additional portion of Content Services business $58M. E Global Crossing $2.2M, Compaq $1.6M F Headcount increased to 970 from 690 G Assets placed in service in last half of 2000 H Increase primarily due to higher payroll taxes (increased headcount) and ad valorem taxes. I Increase primarily due to higher ad valorem taxes. J Equity in affiliates of $(0.5)M in 2001 vs. $1.OM In 2000, and return of equipment to Cisco $(1.2)M. K Non Recurring Content Systems Item L Accelerated depreciation associated with fixed asset writedown M Loss on sale of assets -Content/Condor Investment in Content 3l EC46649AO030223 EXH066-00505 ============= Page 33 of 49 ============= Corporate Staff and Service Group Analysis Corporate Staff & Services Groups - Costs Retained Nine Months Third Quarter Six Months Second Quarter First Quarter 2001 2000 Variance 2001 2000 Variance 2001 2000 Variance 2001 2000 Variance 2001 2000 Variance Executive (20.9) (19.8) (1.1) (5.1) (7.2) 2.1 (15.8) (12.6) (3.2) (5.5) (7.0) 1.5 (10.3) (5.6) (4.7) Legal (7.3) (5.5) (1.8) (1.2) (1.8) 0.6 (6.1) (3.7) (2.4) (3.2) (1.5) (1.7) (2.9) (2.2) (0.7) Risk Assessment & Controls 2.5 - 2.5 1.0 0.6 0.4 1.5 (0.6) 2.1 0.6 (0.5) 1.1 0.9 (0.1) 1.0 Accounting (12.0) (11.7) (0.3) (3.6) (3.8) 0.2 (8.4) (7.9) (0.5) (4.5) (4.3) (0.2) (3.9) (3.6) (0.3) Tax (10.4) (7.2) (3.2) (2.9) (2.2) (0.7) (7.5) (5.0) (2.5) (3.1) (2.9) (0.2) (4.4) (2.1) (2.3) SAP ISC (7.1) (4.6) (2.5) (1.5) (2.6) 1.1 (5.6) (2.0) (3.6) (3.7) (0.1) (3.6) (1.9) (1.9) - Strategic Sourcing (8.8) (8.0) (0.8) (4.8) (5.6) 0.8 (4.0) (2.4) (1.6) (2.0) (2.0) - (2.0) (0.4) (1.6) Investor Relations (2.4) (2.3) (0.1) (0.6) (0.6) - (1.8) (1.7) (0.1) (0.7) (0.8) 0.1 (1.1) (0.9) (0.2) Public Affairs (26.8) (22.8) (4.0) (10.8) (10.7) (0.1) (16.0) (12.1) (3.9) (10.7) (8.4) (2.3) (5.3) (3.7) (1.6) Property Services & Aviation (6.3) 0.3 (6.6) (3.9) 0.2 (4.1) (2.4) 0.1 (2.5) (1.3) 1.8 (3.1) (1.1) (1.7) 0.6 Corporate Development (3.9) (2.4) (1.5) (1.8) (0.9) (0.9) (2.1) (1.5) (0.6) (0.8) (0.5) (0.3) (1.3) (1.0) (0.3) Human Resources (7.8) (12.5) 4.7 (0.5) (5.2) 4.7 (7.3) (7.3) - (2.2) (4.3) 2.1 (5.1) (3.0) (2.1) Community Relations (6.9) (7.8) 0.9 (3.1) (2.5) (0.6) (3.8) (5.3) 1.5 (1.5) (3.1) 1.6 (2.3) (2.2) (0.1) Benefit Plans (50.9) (64.9) 14.0 (9.2) (42.2) 33.0 (41.7) (22.7) (19.0) (5.2) (9.6) 4.4 (36.5) (13.1) (23.4) Allocation of stock option charge - 48.8 (48.8) - 27.0 (27.0) - 21.8 (21.8) - 10.9 (10.9) - 10.9 (10.9) Amortizations (71.5) (61.6) (9.9) (36.7) (29.6) (7.1) (34.8) (32.0) (2.8) (18.5) (18.0) (0.5) (16.3) (14.0) (2.3) IT costs - moved to ENW in 2001 - (19.4) 19.4 - (7.3) 7.3 - (12.1) 12.1 - (2.7) 2.7 - (9.4) 9.4 Interest income 8.5 15.4 (6.9) 2.9 2.0 0.9 5.6 13.4 (7.8) 0.4 0.8 (0.4) 5.2 12.6 (7.4) EBS costs (14.5) - (14.5) (2.4) - (2.4) (12.1) - (12.1) (7.4) - (7.4) (4.7) - (4.7) Special payments (11.4) - (11.4) - - - (11.4) - (11.4) (10.4) - (10.4) (1.0) - (1.0) Azurix related (2.6) (8.0) 5.4 (1.5) - (1.5) (1.1) (8.0) 6.9 (1.1) - (1.1) - (8.0) 8.0 Xcelerator (2.5) - (2.5) (0.2) (0.2) (2.3) - (2.3) (2.3) - (2.3) - - Other (29.7) (1.0) (28.7) (18.9) (13.6) (5.3) (10.8) 12.6 (23.4) (9.0) 16.3 (25.3) (1.8) (3.7) 1.9 Total Corporate costs retained (292.7) (195.0) (97.7) (104.8) (106.0) 1.2 (187.9) (89.0) (98.9) (92.1) (35.9) (56.2) (95.8) (53.1) (42.7) Structured Transactions 8.5 55.2 (46.7) 4.0 6.0 (2.0) 4.5 49.2 (44.7) (0.3) 42.4 (42.7) 4.8 6.8 (2.0) Clean Fuels (8.4) (0.4) (8.0) (2.0) (6.1) 4.1 (6.4) 5.7 (12.1) 10.7 9.0 1.7 (17.1) (3.3) (13.8) Raptor Interest 103.0 - 103.0 39.0 - 39.0 64.0 - 64.0 41.0 - 41.0 23.0 - 23.0 Total Corporate & Other - recurring (189.6) (140.2) (49.4) (63.8) (106.1) 42.3 (125.8) (34.1) (91.7) (40.7) 15.5 (56.2) (85.1) (49.6) (35.5) 10/16101 3:48 AM EC46649AO030224 EXH066-00506 ============= Page 34 of 49 ============= Enron Corp Clean Fuels (CLNFU4) Detailed Variation Analysis 3rd Quarter Clean Fuels -71 Revenues Cost of Sales Reversal against charge to reflect losses on contracted MTBE production Op Costs & Expenses Other income (incl Min Int) BIT - CF 9 mo Ended Sept 30 Third Quarter 6 Mo Ended June 30 Second Quarter First Quarter 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 151.7 180.5 (28.8) E 39.9 67.1 (27.2) 111.8 113.4 (1.6) 73.9 58.5 15.4 D 37.9 54.9 (17.0) A (105.9) (128.3) 22.4 E (29.3) (50.5) 21.2 (76.6) (77.8) 1.2 (43.5) (35.7) (7.8) D (33.1) (42.1) 9.0 A 15.4 (15.4) F - - - - 15.4 (15.4) - 7.7 (7.7) B - 7.7 (7.7) B (56.3) (68.5) 12.2 E (14.2) (22.8) 8.6 (42.1) (45.7) 3.6 (20.2) (21.7) 1.5 C (21.9) (24.0) 2.1 C 0.1 0.5 (0.4) (0.1) 0.1 (0.2) 0.2 0.4 (0.2) 0.1 0.2 (0.1) 0.1 0.2 (0.1) (10.4) (0.4) (10.0) (3.7) (6.1) 2.4 (6.7) 5.7 (12.4) 10.3 9.0 1.3 (17.0) (3.3) (13.7) A Primarily due to lower volumes as a result of the plants being non-operational for half of quarter. B Reserve was fully utilized at end of second quarter 2000. C Decrease due to Mt Belvieu Storage (co 1A1) moving to ETS roll-up. D Primarily due to higher product price, mostly offset by lower volumes as a result of the plants being non-operational for half of quarter. EC46649AO030225 EXH066-00507 ============= Page 35 of 49 ============= Enron Cor EREC EREC4+ERECMIN Detailed Variation Analysis 3rd Quarter EREC EREC+ERECMIN Gross Margin Trent Mesa Montford Fenner Mill Run Somerset German Sub - "Tacke" Lake Benton II Other Op Costs & Expenses Equity in Unconsol Subs Qualified Facility Partnerships Other Other income (excl Min Int) IBIT - EREC EREC - Minority Interest 9 mo Ended Sept 30 Third Quarter 6 Mo Ended June 30 Second Quarter First Quarter 2001 2000 Incr (Decr) 2001 2000 Incr (Decry 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 2001 2000 Incr (Decr) 18.3 - 18.3 5.1 - 5.1 3.3 3.3 1.4 1.4 0.8 0.8 36.4 33.3 3.1 - 15.1 (15.1) 7.5 9.4 (1.9) 72.8 57.8 15.0 (79.3) (49.2) (30.1) 4.3 18.8 (14.5) 0.5 0.9 (0.4) 2.0 0.9 1.1 0.3 29.2 (28.9) 0.6 (0.6) 0.3 29.8 (29.5) 6.9 3.3 1.4 0.8 16.7 19.5 - (3.6) 5.0 1.7 34.1 17.6 (28.2) (17.9) 1.3 2.4 0.6 0.6 2.1 0.6 9.9 3.3 6.9 J 11.4 - 11.4 8.2 - 8.2 E 3.2 - 3.2 A - J 5.1 - 5.1 1.7 - 1.7 E 3.4 - 3.4 A 3.3 J - - - 1.4 J - - - 0.8 J - - - (2.8) K 19.7 13.8 5.9 20.7 6.2 14.5 F (1.0) 7.6 (8.6) B 3.6 J - 18.7 (18.7) - 15.7 (15.7) E - 3.0 (3.0) A 3.3 L 2.5 7.7 (5.2) 1.8 5.2 (3.4) 1 0.7 2.5 (1.8) 16.5 38.7 40.2 (1.5) 32.4 27.1 5.3 6.3 13.1 (6.8) (10.3) M (51.1) (31.3) (19.8) (28.6) (18.4) (10.2) G (22.5) (12.9) (9.6) C (1.1) 3.0 16.4 (13.4) 3.4 4.5 (1.1) H (0.4) 11.9 (12.3) D - (0.1) 0.3 (0.4) - 0.3 (0.3) (0.1) - (0.1) 1.5 N (0.1) 0.3 (0.4) (0.1) 0.1 (0.1) 0.4 (0.5) 6.6 (9.6) 25.9 (35.5) 7.2 13.4 (6.2) (16.8) 12.5 (29.3) 0.6 (0.6) - - 0.6 (0.6) 6.6 (9.6) 26.5 (36.1) 7.2 13.4 (6.2) (16.8) 13.1 (29.9) 9.9 3.3 1Q A Project gross margin increased due to Trent Mesa and Montford projects in America during 2001 offset by Lake Benton II in 2000. B Europe gross margin decreased due to lower turbine sales in 2001. C Operating costs and expense increased primarily due to higher G&A costs in Europe. D Qualified Facility Partnership income decreased due to 1999 income being recorded in 2000 with no similar activity in 2001 and a build-up of reserves in 2001 due to utilities not paying on energy contracts. 2Q E Project gross margin decreased due to percent of completion on Trent Mesa and Montford projects in America during 2001 vs 100% Lake Benton II project sale in 2000. F Europe gross margin increased due to more turbine sales in 2001. G Operating costs and expense increased due to higher G&A costs in Europe, primarily related to outside services. H Qualified Facility Partnership income decreased due to 1999 income being recorded in 2000 with no similar activity in 2001 and a build-up of reserves in 2001 due to utilities not paying on energy contracts. I Other lower due to higher warranty/teething costs and PanAero settlement of $1.2m in 2000 with no similar activity in 2001. 3Q J Project gross margin increased due to Trent Mesa, Montford, Fenner & Somerset projects in America during 2001 offset by Lake Benton II in 2000. K Europe gross margin decreased due to lower turbine sales in 2001. L Other higher due to higher electricity and maintenance sales. M Operating costs and expense increased primarily due to higher G&A costs in Europe. N Other income higher due to Europe. EC46649AO030226 EXH066-00508 ============= Page 36 of 49 ============= ENRON CORP CALCULATION OF EARNINGS PER SHARE Assuming all equity instuments are dilutive CIO LA Numerator: Basic Income before cumulative effect of accounting changes Preferred stock dividends: Series J Second Preferred Stock Series B Convertible Preferred Stock Income available to common shareholders before cumulative effect of accounting changes Cumulative effect of accounting changes Income available to common shareholders Diluted Income available to common shareholders Effect of assumed conversion of dilutive securities: Series J Second Preferred Stock (a) Series B Convertible Preferred Stock (a) Income before cumulative effect of accounting changes Cumulative effect of accounting changes Income available to common shareholders after assumed conversions Denominator: Denominator for basic earnings per share - weighted-average shares Effect of assumed conversion of dilutive securities: Series J Second Preferred Stock (a) Series B Convertible Preferred Stock (a) Stock options Forward Contracts (b) Dilutive potential common shares Denominator for diluted earnings per share - adjusted weighted-average shares and assumed conversions Basic earnings per share: Before cumulative effect of accounting changes Cumulative effect of accounting changes Basic earnings per share Diluted earnings per share: Before cumulative effect of accounting changes Cumulative effect of accounting changes Diluted earnings per share 3 - months ended 9 - months ended September 30, September 30, 2001 2000 2001 2000 $ (618.0) $ 292.4 $ 192.0 $ 919.0 (3.9) (4.3) (12.0) (13.1) (16.6) (16.6) (49.3) (49.5) (638.5) 271.5 130.7 856.4 - 19.0 - $ (638.5) $ 271.5 $ 149.7 $ 856.4 $ (638.5) $ 271.5 $ 130.7 $ 856.4 3.9 4.3 12.0 13.1 16.6 16.6 49.3 49.5 (618.0) 292.4 192.0 919.0 - 19.0 - $ (618.0) $ 292.4 $ 211.0 $ 919.0 761.1 741.2 756.8 732.4 31.7 34.7 32.3 34.9 50.0 50.0 50.0 50.0 14.3 43.7 23.0 43.9 56.3 - 30.0 - 152.3 128.4 135.3 128.8 913.4 869.6 892.1 861.2 $ (0.84) $ 0.37 $ 0.173 $ 1.17 $ - $ - $ 0.025 $ - $ (0.84) $ 0.37 $ 0.198 $ 1.17 $ (0.68) $ 0.34 $ 0.215 $ 1.07 $ - $ - $ 0.021 $ - $ (0.68) $ 0.34 $ 0.237 $ 1.07 (a) The Series J Second Preferred Stock and the Series B Convertible Preferred Stock are both antidilutive in the three- and nine-months ending September 30, 2001 and 2000- (b) Impact of Raptor: Basic: JEDI 12.0 UBS shares 3.7 Total: 15.7 Diluted: Waterfall 18.0 Collars 28.6 Total: 46.6 EC46649AO030227 EXH066-00509 ============= Page 37 of 49 ============= Enron Corp. Interest Expense (Millions of Dollars) 2000 Actuals 2001 Actuals 3rd Qtr Change YT 1st Qtr 11 11 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Variance from 3Q Variance Interest on third party debt Cc 99 only Interest on long-term debt 100.5 101.7 99.9 125.2 427.3 67.4 87.3 52.0 206.7 (47.9) (35.3) 5 9 (95.4) 21 1 Interest on short-term debt 1.9 1.1 (2.8) 6.1 6.3 2.4 4.7 14.2 18 7 21.3 94 5 17.0 21 1 . (23.5) . 94.5 Other interest - Inter Company 0.1 2.3 (2.4) - - 25 7 33.6 (15 2) 42.2 0) (38 . 30.3 . (22.9) . 22.7 68.3 (52.6) Interest rate swaps 6.5 15.6 7.6 3 (4.0) 3 127 . 459 3 . 88 2 . 96.2 115.2 299.6 12.9 19.0 (32.4)__. 109.0 120.7 102. . . . ,. Corp & IVEST4E (excluding Co 99) 25.2 13.8 (1.2) (11.8) 26.0 (10.9) (0.6) (66.7) (78.2) 39 9 (65.5) (6 8) (66.1) (25.5) (116.0) 25.6 Elims (ENRON4E) - - 14.3 (19.2) (4.9) (0.6) 74 5 33.0 77 1 7.5 104 0 . 255.6 . 41.7 26.9 164.0 ECM (Corp) (0.4) 29.7 62.3 70.3 161.9 . 1 0 . 0 6 . - 1.6 (0.8) (0.6) (1.5) EREC 0.8 1.5 0.8 (0 2) 2.1 1) (0 5.2 3) (0 . (0.1) . (0.2) 0.7 0.4 0.9 0.9 0.6 Clean Fuels - - . . . ETS - (NNG/TWP) 10.5 9.9 9.5 9.5 39.4 9.4 9.4 - 18.8 2 0 (9.5) (9.4) 2) (0 (11.1) 0.2 EOTT - - - - - 0.2 . . Global Services(EOPER): - - - - (0.3) 10.4 10.1 10.4 10.7 10.1 EGPG PGE - 17.8 18.2 18.4 18.0 72.4 18.9 18.3 18.5 55.7 0.1 0.2 1.3 EGAS (0.1) (0.9) 12.8 11.0 22.8 13.8 18.0 13.8 - 45.6 1.0 (4.2) 33.8 WHOLESALE: Americas(AMER): North America(EGSVC) 0.3 - 6.1 14.8 21.2 0.2 10.0 (6.8) 3.4 (12.9) (16.8) (3.0) Capital Management(ECMGR) 2.2 4.2 4.2 6.9 17.5 11.7 10.7 7.8 30.2 3.6 (2.9) 74 4 19.6 26 0 WholesaleOther - - - - - (24.2) 50.2 26.0 2 50.2 . (0 2) . 0.2 WnolesaleEES - - - - - - 0.2 (28.0) 0. (28.0) - (28.0) . (28.0) (28.0) WholesaleFairVatue - - (3.4) (3.4) (3.41 . _(3.4) ... (3.4) Elims (AMER4C) 2.5 4.2 10.3 21.7 38.7 11.9 (3.3) _ 19.8 - .. 28.4 , . 9.5 23.1 11.4 Europe(EUROH): ECINT(Enron - Europe) 4.7 (1.1) 14.0 22.6 40.2 5.4 15.0 (9.0) 11.4 (23.0) (24.0) (6.2) EGBLM(Global Markets) - - 0.1 5.7 5.8 0.6 0.3 0.1 1.0 (0.2) 0.9 EENGC - - - 0.3 0.3 - - - 0) (4 - (4.0) - 4.0 (4.0) EIM(Industrial Markets) - - - - . EUROH4C 4.7 (1.1) 14.1 46.3 6.0 11.3 (8.9) _ 8.4 (23.0) (20.2) _.. (9.3) WHOLE4E (3.2) - (3.2) (1.0) - - (1.0) 3.2 1 7 0 9 2.2 3 6 EBS(Broadband Services) 0.1 0.1 0.6 0.8 1.1 0.9 1.8 3.8 . 3 9 . 2 2 . (5 3) EES(Retail) (0.1) 1.3 5.4 (1.3) 5.3 0.5 (0.7) 1.5 1.3 . ) ( . . Total 3rd Party 169.9 197.4 245.7 256.7 869.7 212.7 259.9 217.6 - 690.2 (28.1) (42.3) ...... 77.2 Capitalized Interest EGPG (0.1) (0.1) (0.3) (0.2) (0.7) - (0.3) 0.3 - 0.6 0.6 0.5 PGE (0.6) (0.8) (1.0) (1.0) (3.4) (0.7) (0.7) (1.0) (2.4) (0.3) EGAS (0.3) (3.9) (2.3) (1.7) (8.2) - (0.1) (0.1) (0.2) 2.2 6.3 El HQ(CRPINT) (0.7) 0.9 0.2 - 0.4 - - - (0.2) 0 1 (0.4) 3 6 EREC (2.2) (1.5) - (1.0) (4.7) - (0.1) - (0.1) - . . 5 15 EGSVC(North America) (8.2) (7.3) 0.1 0.6 (14.8) 0.1 - - 0.1 (0.1) - . MDEST4 EGBLM(Global Markets) - - - (0.3) (0.3) (0.5) (0.1) (0.3) (0.9) (0.3) (0.2) (0.9) EBS - - (25.6) (25.6) (6.7) (1.2) - (7.9) - 1.2 (7.9) EES (0.1) (0.3) 0.4 - - (1.7) 0.1 (1.6) (0.3) 1.8 (1.6) CORP - - - - (8.5) (4.5) (3.8) (16.8) (3.8) 0.7 (16.8) Clean Fuels (0.1) (0.1) 0.2 - - - (0.2) - - Total Capitalized Interest (12.6) (17.0) (5.0) (30.9) (65.5) (16.3) (8.7) (4.8) (29.8) 0.2 4.0 4.8 Amort of debt discount 3.7 4.7 4,4 6.5 19.3 4.8 6.0 6.4 17.2 2.0 0.4 4.4 Discount on assigned receivables - - - - Total Intercompany Interest 6.5 6.5 (42.2) (18.7) (60.9) (18.7) 23.5 (67.4) Total Interest Expense 161.3 195.5 247.4 234.0 838.2 201.2 215.0 200.5 616.7 (46.8) (14.4) 12.7 161.3 195.5 247.0 234.0 837.8 201.2 215.0 200.5 616.7 Intexp 3g01, interest N10 EC46649AO030228 10/16/2001, 2:45 AM EXH066-00510 ============= Page 38 of 49 ============= Enron Corp. Dividends on Preferred of Subs (Millions of Dollars) (Preliminary) (VEST: Enron Capital LLC (579) - MIPS Enron Capital Resources LP (655) - MIPS Enron Capital Trust I (1 P1) - TONS Enron Capital Trust II (964) - TOPrS Enron Capital Trust III (970) - ACTs Organizational Partner, Inc (604) PGE CRPINT:Corp International (445) EGBLM(Global Markets) CALME(37T) Rounding entry Total Dividends on Pref of Subs 2000 Actuals 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 4.3 4.2 4.3 4.3 17.1 1.7 1.7 1.7 1.7 6.8 4.2 4.1 4.1 4.2 16.6 3.0 3.0 3.1 3.0 12.1 3.2 3.3 - - 6.5 0.4 0.4 0.4 0.4 1.6 16.8 16.7 13.6 13.6 60.7 0.6 0.6 0.5 0.6 2.3 - 2.1 4.4 2.1 8.6 - 2.4 1.2 1.9 5.5 0.7 (0.7) - (0.1) (0.1) 18.1 21.1 19.7 18.1 77.0 18.1 21.1 20.4 18.1 77.7 2001 Actuals 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 4.3 4.3 4.3 12.9 1.7 1.7 1.7 5.1 4.2 4.1 4.1 12.4 3.0 3.0 3.0 9.0 0.4 0.4 0.4 1.2 13.6 13.5 13.5 - 40.6 0.6 0.6 0.6 1.8 2.2 2.2 2.2 6.6 1.9 1.9 2.0 5.8 (0.3) - - (0.3) 18.0 18.2 18.3 - 54.5 18.0 18.2 18.3 54.5 EC46649AO030229 Intexp 3g01, div on pref 31 10/15/2001, 11:39 PM EXH066-00511 ============= Page 39 of 49 ============= ENRON CORP Current Forecast CASH FLOW STATEMENT (Millions of Dollars) CASH FLOW FROM OPERATING ACTIVITIES Net Income (excluding changes in Accounting Principle) Items not affecting cash: Depreciation, depletion & amortization Deferred income taxes Equity Earnings Net (gain)doss on sale of assets Net (Increase)/Decrease in Price Risk Management Asset Merchant Activities Realized (Gains) / Losses on Sales Proceeds from Sales Additions Unrealized (Gains) / Losses Equity/Partnership Distributions Oil & gas exploration expenses Dividends on Pref Securities of Subsidiary Companies Income Attributable to Minority Interest Other (including transfers & reclasses; see detail) FUNDS FLOW FROM OPERATIONS Working Capital Changes: Receivables Inventories Prepayments Broker net Settlements Payables Accrued Taxes Accrued Interest Customer Deposits Other Changes in Working Capital TOTAL WORKING CAPITAL CHANGES CASH FROM OPERATING ACTIVITIES CASH FLOWS FROM INVESTING Proceeds from Sale of Investments Capital Expenditures Property Transfers - Intercompany Equity Investments Cash paid for Business Acquisitions Other Investing Activity CASH FLOWS FROM INVESTING CASH FLOWS FROM FINANCING Third party debt increasel(decrease) Stock (purchases) isssuances Dividends to Corp Dividends on Preferred Stock of Subs Dividends Paid to Outside Other Financing Activity CASH FLOWS FROM FINANCING NET CASH FLOW (After Financing Activities) CASH FLOWS FROM INTERCOMPANY ACTIVITY Accounts Receivablelpayable - intercompany Other Investing Activities - intercompany Other Financing Activities - intercompany INCREASEI(DECREASE) IN CASH AND NOTE FROM CORPORATE Increase/(Decrease) in Restricted/Retained Cash {calc) c:\Dacuments ad 5et4ngsi ,xadia'LocS 5elungs\Tanporarylnlanel Files\OLK3l4InvRSSiGns.dsICash_Flo.v ** ESTIM E ONLY ** 06:42 AM ** ESTIMATE ONLY ** 3rd Quarter 4th Quarter Full June YTD Estimate Sept YTD Forecast Year Based on Recurring Earnings Forecast, excluded impact on non- 810.4 396.2 1,206.6 397.3 1,603.9 recurring items 452.7 153.5 606.2 232.6 838.8 187.8 118.1 305.9 113.7 419.6 (174.6) (21.0) (195.5) (19.3) (214.8) (49.6) (4.5) (54.1) 0.1 (54.0) 783.1 15.7 798.8 95.7 894.5 (64.5) (16.3) (80.7) 2.5 (78.2) 479.0 111.7 590.7 101.6 692.3 (175.0) (242.6) (417.6) (12.6) (430.2) 20.7 102.6 123.3 16.0 139.3 50.7 15.0 65.7 30.5 96.2 3.6 0.3 4.0 - 4.0 36.4 (16.8) 19.6 18.2 37.8 69.8 1.7 71.5 10.2 81.7 (626.2) (360.8) (987.0) (84.8) (1,071.8) 1,804.4 252.9 2,057.3 901.8 2,959.1 (936.7) (6,078.4) (7,015.1) 971.1 (6,043.9) (113.9) 19.3 (94.6) 88.6 (6.0) 254.1 (305.0) (50.9) 16.7 (34.2) 299.9 (49.2) 250.7 (23.1) 227.6 (138.6) 6,542.3 6,403.7 8.1 6,411.7 (120.3) 25.8 (94.5) (29.6) (124.1) 13.3 36.7 1 55.3 105.3 (2,642.3) (196.2) (2.838.5) (12.3) (2,850.8) 242.1 100.4 42.5 (40.0) 302.5 (3,142.3) 5.6 (3,046.7) 1,034.8 (2,012.0) (1,337.9) 348.5 (989.4) 1,936.6 947.2 1,423.2 159.4 1,582.6 709.0 2,291.6 (1,199.7) (428.3) (1,628.0) (291.6) (1,919.6) (1,087.5) (20.0) (1,107.5) (399.7) (1,507.2) (338) 0.5 (33.3) - (33.3) (262.4) 56.6 (205.8) 39.2 (166.6) (1,160.2) (231.8) (1,392.0) 56.8 (1,335.1) 2,251.2 608.4 2,859.6 (1,830.3) 1,029.4 (24.3) 24.3 (0.0) (0.0) (0.0) (36.4) 12.9 (23.5) (15.7) (39.2) (220.0) (161.7) (381.7) (123.1) (504.8) - (2.3) (2.3) - (2.3) 1,970.6 481.5 2,452.1 (1,969.0) 483.1 (527.5) 598.3 70.7 24.3 95.1 806.3 (1,114.0) (307.7) 1,482.9 1,175.2 (38.0) 299.3 261.3 - 261.3 (768.3) 814.7 46.4 (1,482.9) (1,436.5) (0.0) (0.0) (0.0) (0.0) (0.0) (527.5) 598.3 70.7 24.3 95.1 EC46649A0030230 EXH066-00512 ============= Page 40 of 49 ============= Enron Corp Impact of Stock Price on Fully Dilutive Shares 3rd Quarter, 2001 (Shares in Thousands) Stock Price Assumptions for Dilutive Shares Average Stock Price for Period $35.00 $40.01 $45.00 Used for Employee Options, EOG Options and Forward Contracts Basic Shares Outstanding Dilutive Shares Convertible Preferred Stock - Series 3 Mand. Cony Jr Pref Stock . Series B Raptor - Waterfall Raptor- Collars Employee Options Options issued to EOG Resources Forward Contracts / Total Shares Potential Items ~` "Martin wafer trust 761,664 761,564 761,564 Includes 12 million related to Raptor settled on September 28th 31,630 50,000 18,013 37,530 9,174 2,817 31,630 31,63D Estimated shares outstanding at Sept 30th of 1.159 mililon shares al a fixed conversion rate of 27.304, Dividend rate currenMy on an if converted" into common shares basis. Held primarily by Better and Rubin families 50,000 50.000 250,000 shares outstanding at a fixed conversion rate of 200. Face value of $1.0 billion and a cash dividend of 8.50%. Shares held by Whitewing. Value of the stock has been hedged by a share settled swap between Enron & Whitewing which is accounted for on a MTM basis. Trigger events include: falling below investment grade AND stock failing bet $59.75 17,887 16,568 Settled on September 28th 28,622 21,694 Settled on September 28th 11,623 14,272 43.3 Million Options in the money at a $40.01 market price, average strike price of $26.72 3,266 3,613 13,424 10,159 7,711 924,152 914,751 907,052 Similar to 'Employee Options', held by BofA; 6.4 Million Options at $19.59 (Will not be separately disclosed) At Quarter-end 18.8 million shares at an average price of $50.00 Total of $920 million of Senior Notes. Dilution would probably not be included as this is more of a guarantee like structure, and Enron is meeting all contingencies. Trigger events include: failing below investment grade AND stock falling below $34.13 1 Whitewing Put (Mint Swap) Put option on 50 million shares t 548.55. clue of Put and Series B Preferred Stock // support debt of $2.4 Billion. As discussed above, this put is recorded on a MTM basis and Enron's earnings exposure wit be determined on the allocation of income within Whitewing Zero-Coupon Bond 31- F; r f L, 1-4 Initial Conversion Price is $113,83 per share. EC46649AO030231 ============= Page 41 of 49 ============= 0 ~~) SELECTED FINANCIAL DATA ,i ernn Cnro and Subsidiaries 2000 2001 (In Millions Except Per Share Amounts 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Revenues, Net of Intercompany Transportation and Distribution Natural Gas Pipelines $ 206 $ 167 $ 130 $ 204 $ 707 $ 249 $ 150 $ 136 $ 535 Portland General 397 382 663 609 2,051 686 787 894 2,367 Global Assets 295 448 368 482 1,593 346 363 422 1,131 Wholesale Businesses (11 Americas 7,694 11,919 20,610 24,850 65,073 29,161 26,329 29,155 84,645 Europe and Other 4,210 3,433 7,555 13,997 29,195 14,156 18,479 16,463 49,098 Retail Energy Services 11) 287 410 513 451 1,661 643 558 504 1,705 Broadband Services 59 151 135 63 408 84 16 4 104 Exploration and Production (2) - Corporate and Other 3 24 33 95 101 7 65 35 107 Total $ 13,145 $ 16,886 $ 30,007 $ 40,751 $ 100,789 $ 45,332 $ 46,747 $ 47,613 $ 139,692 Net Income Income (Loss) Before Interest, Mnority Interests and Income Taxes Transportation and Distribution Natural Gas Pipelines $ 128 $ 77 $ 83 $ 103 $ 391 $ 133 $ 77 $ 85 $ 295 Portland General 105 62 74 100 341 60 65 (17) 108 Global Assets 71 34 19 (30) 94 (4) (3) 19 12 Wholesale Businesses 111 Americas 239 296 536 461 1,532 530 640 701 1,871 Europe and Other 126 86 53 265 530 159 97 53 309 Retail Energy Services (11 6 46 27 32 111 40 60 71 171 Broadband Services - (8) (20) (32) (60) (35) (102) (80) (217) Exploration and Production (2) - Corporate and Other 51 16 106 52 193 B8 41 59 188 IBIT-Recurring 624 609 666 847 2,746 795 793 773 2,361 Non-Recurring Items (See Analysis of Reported Earnings) - - 264 264 - --- - - --- 1 406 1 406 Total IBIT 624 609 666 83 2,482 - 7 95 T93 (633) 95 Interest and Related Charges, net 161 196 247 234 838 201 215 201 617 Dividends on Company-Obligated Preferred Securities of Subsidiaries 18 21 20 18 77 18 18 19 55 Minority Interests 35 39 35 45 154 40 30 33 103 Income Tax Provision (Benefit) 72 64 72 226 434 130 126 268 12 Net Income Before Cumulative Changes 338 289 292 60 979 406 404 (618) 192 Cumulative Effect of Accounting Changes, net of tax - - - - - 19 - - 19 Net Income 338 289 292 60 979 425 404 (618) 211 Preferred Stock Dividend (3) 20 21 21 21 83 20 21 20 61 Earnings on Common Stock $ 318 $ 268 $ 271 $ 39 $ 896 $ 405 $ 383 $ 638 $ 150 Earnings Per Share 141 Basic $ 0.44 $ 0.37 $ 0.37 $ 0.05 $ 1.22 $ 0.54 $ 0.51 $ 0.84 $ 0.19 Diluted Recurring $ 0.40 $ 0.34 $ 0.34 $ 0.41 $ 1.47 $ 0.47 $ 0.45 $ 0.43 $ 1.35 Non-Recurring Items (See Analysis of Reported Earnings) 0.36 0.35 0.02 1.27 1.16 Reported $ 0.40 $ 0.34 $ 0.34 $ 0.05 $ 1.12 $ 0.49 $ 0.45 $ 0.84 $ 0.19 Depreciation, Depletion and Amortization Transportation and Distribution Natural Gas Pipelines $ 16 $ 17 $ 17 $ 18 $ 68 $ 17 $ 17 $ 17 $ 51 Portland General 46 47 59 59 211 51 55 32 138 Global Assets 39 45 50 51 185 47 41 46 134 Wholesale Businesses Americas 22 27 25 27 101 29 50 53 132 Europe and Other 18 17 17 22 74 21 23 22 66 Retail Energy Services 9 8 11 8 36 9 10 10 29 Broadband Services 3 8 52 14 77 14 16 19 49 Exploration and Production (2) - - - - - - - - - Corporate and Other 19 23 27 34 103 25 28 30 83 Total $ 172 $ 192 $ 258 $ 233 $ 855 $ 213 $ 240 $ 229 $ 682 (1) Beginning in 2001, risk management activities associated with Enron's retail customers are managed by Wholesale Services. Prior period Wholesale Services and Retail Energy Services amounts have been restated (2) Reflects results of Ervon Oil & Gas through August 16,1999, the date of the share exchange transaction; following this date the results of the exploration and production operations in India and China are included in Wholesale Businesses - Europe and Other. (3) The Second Preferred Stock and the Series B Preferred Stock are both dilutive in the fast three quarters of 2000 and both antidilutive in the fourth quarter. The Second Preferred Stock is dilutive for the year-to-date 2000. while the Series B Preferred Stock is antidkdioe for the same period. The Second Preferred Stock and the Series B Preferred Stock are both dilutive in the first two quarters of 2001 and antidilutive in the third quarter of 2001. Both are dilutive for the year-to-date 2001. (4) Adjusted to reflect two-for-one common stock split effective August 13, 1999. EC46649A0030232 Printed: 10/16/2001 8:34 AM Pg 1 EXH066-00514 ============= Page 42 of 49 ============= ANALYSIS OF REPORTED EARNINGS -Enron Coro. and Subsidiaries 2000 2001 (In Millions, Except Per Share Amounts 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Diluted Earnings Per Share - Recurring (1) $ 0.40 $ 0.34 $ 0.34 $ 0.41 $ 1.47 $ 0.47 $ 0.45 $ 0.43 $ 1.35 Non-Recurring Earnings (Loss) Items Per Share (1) Charge to reflect impairment by Azurix of certain assets - - - (0.41) (0.40) - - (0.31) (0.32) Gain on The New Power Company, net - - - 0.05 0.05 - - - - Cumulative effect of accounting changes (2) - - - - - 0.02 - - 0.02 Broadband Services - - - - - - - (0.20) (0.20) Investing Activities - - - - - - - (0.60) (0.61) Effect of anti-dilution (3) - - - - - - - (0.16) (0.05) Total Non-Recurring Earnings (Loss) Items Per Share - - - (0.36) (0.35) 0.02 - (1.27) (1.16) Reported Diluted Earnings Per Share $ 0.40 $ 0.34 $ 0.34 $ 0.05 $ 1.12 $ 0.49 $ 0.45 $ (0.84) $ 0.19 Average Number of Common Shares Used In Diluted Computation (1)(4) 851.9 862.2 869.6 787.7 813.9 871.6 891.1 761.1 809.8 Non-Recurring Earnings (Loss) Items-After tax (5) Charge to reflect impairment by Azurix of certain assets $ - $ - $ - $ (326) $ (326) $ - $ - $ (287) $ (287) Gain on The New Power Company, net - - - 39 39 - - - - Cumulative effect of accounting changes (2) - - - - - 19 - - 19 Broadband Services - - - - - - - (180) (180) Investing Activities - - - - - - - (544) (544) Total Non-Recurring Earnings Loss Items - After tax $ - $ - $ - $ (287) $ 287 $ 19 $ - $ (1,011 $ (992) Non-Recurring Earnings (Loss) Items - Pretax Charge to reflect impairment by Azurix of certain assets $ - $ - $ - $ (326) $ (326) $ - $ - $ (287) $ (287) Gain on The New Power Company, net - - - 62 62 - - - - Cumulative effect of accounting changes (2) - - - - - 31 - - 31 Broadband Services - - - - - - - (277) (277) Investing Activities - - - - - - - (842) (842) Total Non-Recurring Earnings (Loss) Items - Pretax $ - $ - $ - $ (264 $ 264 $ 31 $ - $ 1,406 $ 1,375 (1) Adjusted to reflect two-for-one common stock split effective August 13, 1999. (2) 2001 due to the adoption of an accounting pronouncement requiring the measurement of all derivative instruments at fair value. (3) The conversions of preferred shares and equity instruments to common shares for purposes of the diluted earnings per share calculation were ankdilutive. However, in order to present comparable results, per share amounts for each earnings component were calculated after considering conversion. The total average number of shares used to calculate each component of earnings per share was 913.3 million and 892.1 million for the third quarter and nine months of 2001, respectively. (4) In 2001, the average number of diluted shares outstanding reflect the impact of equity instruments indexed to Enron common stock. The equity instruments, which terminate beginning in 2003, were originated in conjunction with off-balance sheet structures. (5) Except where a specific tax rate applied, assumes a 35% tax rate. EC46649AO030233 Printed: 10/16/2001 8:34 AM Pg 2 EXH066-00515 ============= Page 43 of 49 ============= CAPITAL STRUCTURE AND STATISTICS In Millions, Except Per Share Amounts 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Common Shares Outstanding (f) Average, Basic 722.5 733.4 741.2 747.8 736.2 751.5 757.3 761.1 Average, Diluted 851.9 862.2 869.6 787.7 813.9 871.6 891.1 761.1 End of Period, Diluted 861.3 858.3 872.3 791.1 824.5 874.2 900.8 759.3 Market Price Per Share (end of period) (1) $ 74.875 $ 64.500 $ 87.645 $ 83.125 $ 83.125 $ 58.100 $ 49.000 $ 27.234 Dividends Per Share Cumulative Second Preferred Convertible Stock ('Series J') (2) (3) (4) $ 3.413 $ 3.413 $ 3.413 $ 3.413 $ 13.652 $ 3.413 $ 3.413 $ 3.413 Junior Convertible Preferred Stock ('Series A') (5) - - - - - - - Junior Manditority Convertible Preferred Stock ('Series B') (4) (5) 65.000 65.000 65.000 65.000 260.000 65.000 65.000 65.000 Common Stock (1) 0.125 0.125 0.125 0.125 0.500 0.125 0.125 0.125 Company-Obigated Preferred Securities of Subsidiaries 8% Cumulative Preferred ('Series C) (3) 0.500 0.500 0.500 0.500 2.000 0.500 0.500 0.500 9 % Cumulative Preferred ('Series A') (3) 0.563 0.563 0.563 0.563 2.252 0.563 0.563 0.563 8.57% Cumulative Preferred 2,142.500 2.142.500 2,142.500 2,142.500 8,570.000 2,142.500 2,142.500 2,142.500 7.39% Cumulative Preferred 1,847.500 1,847.500 1,847.500 1,847.500 7,390.000 1,847.500 1,847.500 1,847.500 8.30% Trust Originated Preferred ('Series T') p) 0.519 0.519 0.519 0.519 2.076 0.519 0.519 0.519 8.125% Trust Originated Preferred ('Series R') (3) 0.508 0.508 0.508 0.508 2.032 0.508 0.508 0.508 7.1% Cumulative Preferred 19.878 19.878 19.878 19.878 79.512 19.878 19.878 19.878 Adjustable Rate Trust Securities (6) 16.105 11.691 - - 27.796 - - - 7.75% Cumulative Preferred 1.938 1.938 1.938 1.938 7.752 1.938 1.938 1.938 LNG Power 11, L.L.C. Preference Units - 18.125 18.125 18.125 54.375 18.125 18.125 18.125 Capital Structure Total Debt $ 10,172 $ 11,697 $ 13,781 $ 10,229 $ 10,229 $ 11,922 $ 12,812 We Percent 43.7 46.3 49.5 40.9 40.9 44.2 46.0 n/a Minority Interests $ 1,872 $ 1,893 $ 1,889 $ 2,414 $ 2,414 $ 2,418 $ 2,395 n/a Percent 8.0 7.5 6.8 9.7 9.7 9.0 8.6 n/a Company-Obigated Preferred Securities of Subsidiaries $ 1,099 $ 899 $ 904 $ 904 $ 904 $ 904 $ 903 n/a Percent 4.7 3.6 3.2 3.6 3.6 3.3 3.2 n/a Shareholders' Equity $ 10,140 $ 10,769 $ 11,276 $ 11,470 $ 11,470 $ 11,727 $ 11,740 n/a Percent 43.6 42.6 40.5 45.8 45.8 43.5 42.2 n/a Annual Date Optional Redemption Securities PREFERRED STOCK Dividend Rate Issued Call Date Price Authorized Original Issue Outstanding at 913012001 Enron Corp. Second Preferred Stock ("Series J') (2) (3) (4) $ 13.65 8/83 8/93 $ 100 1,370,000 2,396,455 1,152,686 Enron Corp. Junior Manditoriy Convertible Preferred Stock ('Series B') (4) (5) 6.500% 9/99 n/a 4,000 250,000 250,000 250,000 Preferred Securities of Subsidiary Companies Enron Capital L.L.C. ('Series C) (3) 8.000% 11/93 11/98 25 9,200,000 8,550,000 8,550,000 Enron Capital Resources, L. P. ('Series A') (3) 9.000% 7/94 8/99 25 3,000,000 3,000,000 3,000,000 Enron Equity Corp. 8.570% 12/94 12199 100,000 880 880 880 Enron Equity Corp. 7.390% 4/96 4/01 100,000 150 150 150 Enron Capital Trust I ("Series T") (3) 8.300% 11/96 12/01 25 8,000,000 8,000,000 8,000,000 Enron Capital Trust II ('Series R') (3) 8.125% 1/97 3102 25 6,000,000 6,000,000 6,000,000 Private Placement 7.100% 3/97 4/02 n/a (7) 20,000 20,000 20,000 Enron Capital Trust 01(6) Variable 6/97 Variable 1,000 200,000 200,000 Portland General Electric Company 7.750% 6/93 n/a 100 30,000,000 300,000 300,000 LNG Power I), L.L.C. Preference Units 6.740% (a) 3/00 n/a 1,000 105,000 105,000 105,000 (1) Adjusted to reflect two-for-one common stock split effective August 13, (5) On September 24, 1999, one share of Series 8 Junior Mandtorty Convertible Preferred Stock was issued in exchange for each (2) Each share is convertible into 27.304 shares of E ron common stock at the holder's option following the caA by Enron in 1993 (adjusted for common share of Series A Junior Voting Convertible Preferred Stock. Each share of Series B is manditonly conve rtible into 200 shares stock split effective August 13. 1999). The dividend is equal to the higher of $10.50 per share or the equivalent dividend that would be paid if the shares of Enron common stock on January 15, 2003. had been converted. (6) Redeemed June 6, 2000. (3) Publicly traded on the New York Stock Exchange. (7) Redemption price varies based on original issue amounts. (4) The Second Preferred Stock and the Series 8 Preferred Stock are both dilutive m the first three quarters of 2000 and both artidilutive in the fourth quarter. (8) Initial rate is 6.74% increasing to 7.79%. /i The e Second Preferred Stock is dlutive for the year-to-date 2000, while the Series 8 Preferred Stock is antidilutive for the sane period. The Second 1L_ 1{ Preferred Stock and the Series B Preferred Stock are both diktive in the first two quarters of 2001 and antidilutive in the third quarter of 2001. Both are dilutive for the year-to-date 2001. Printed: 10/162001 8:34 AM Pg 3 EXH066-00516 ============= Page 44 of 49 ============= CONSOLIDATED BALANCE SHEET Enron Coro. and Subsidiaries 1999 2000 2001 (In Millions) 3131 6130 9/30 12/31 3131 6130 9130 12/31 3/31 6130 Current Assets Cash and cash equivalents $ 296 $ 286 $ 316 $ 288 $ 466 $ 718 $ 697 $ 1,374 $ 1,086 $ 847 Trade and other receivables, net 3,534 3,522 3,851 3,548 4,352 6,269 7,675 12,270 11,310 12,581 Assets from price risk management activities 1,554 1,756 2,156 2,205 3,139 5,696 7,294 12,018 12,672 8,815 Inventories 458 557 613 598 437 571 1,942 953 650 913 Deposits 102 88 109 81 129 301 1,434 2,433 2,349 2,412 Other 501 684 522 535 810 815 236 1,333 1,100 756 Total Current Assets 6,445 6,893 7,567 7,255 9,333 14,370 18,806 30,381 29,167 26,324 Investments and Other Assets Investments in and advances to unconsolidated equity affiliates 4,632 4,779 4,968 5,036 6,020 5,621 5,376 5,294 5,694 5,934 Assets from price risk management activities 2,271 2,364 3,052 2,929 3,428 5,228 7,367 8,988 9,998 9,023 Goodwill 2,690 2,696 2,636 2,799 2,905 3,408 3,646 3,638 3,609 3,527 Other 5,076 5,599 5,578 4,681 5,101 5,728 6,348 5,459 7,217 7,843 Total Investments and Other Assets 14,669 15,438 16,234 15,445 17,454 19,985 22,737 23,379 26,518 26,327 Property, Plant and Equipment, at cost 17,197 17,507 12,924 13,912 14,012 14,682 15,133 15,459 15,297 14,287 Less accumulated depreciation, depletion and amortization 5,612 5,691 3,149 3,231 3,315 3,471 3,680 3,716 3,722 3,546 Net Property, Plant and Equipment 11,585 11,816 9,775 10,681 10,697 11,211 11,453 11,743 11,575 10,741 Total Assets $ 32,699 $ 34,147 $ 33,576 $ 33,381 $ 37,484 $ 45,566 $ 52,996 $ 65,503 $ 67,260 $ 63,392 Current Liabilities Accounts payable $ 2,694 $ 2,603 $ 2,281 $ 2,154 $ 2,914 $ 4,400 $ 5,390 $ 9,777 $ 8,686 $ 9,646 Liabilities from price risk management activities 1,542 2,386 2,829 1,836 2,697 4,292 6,187 10,495 10,840 7,470 Short-term debt - - - 1,001 1,884 1,486 3,117 1,679 2,159 3,457 Customers' deposits 34 33 13 44 165 520 1,939 4,277 3,495 1,820 Other 1,374 1,424 1,546 1,724 1,530 1,524 469 2,178 2,390 1,920 Total Current Liabilities 5,644 6,446 6,669 6,759 9,190 12,222 17,102 28,406 27,570 24,313 Long-term Debt 9,419 8,979 8,592 7,151 8,288 10,211 10,664 8,550 9,763 9,355 Deferred Credits and Other Liabilities Deferred income taxes 2,194 2,352 1,908 1,894 1,791 1,678 1,565 1,644 1,625 1,758 Liabilities from price risk management activities 1,852 2,068 2,521 2,990 3,510 5,525 7,314 9,423 10,472 10,062 Other 1,640 1,620 1,718 1,587 1,594 2,369 2,282 2,692 2,781 2,866 Total Deferred Credits and Other Liabilities 5,686 6,040 6,147 6,471 6,895 9,572 11,161 13,759 14,878 14,686 Minority Interests 2,125 2,475 1,822 2,430 1,872 1,893 1,889 2,414 2,418 2,395 Company-Obligated Preferred Securities of Subsidiaries 1,001 1,001 1,001 1,000 1,099 899 904 904 904 903 Shareholders' Equity Cumulative second preferred convertible stock 131 131 130 130 129 127 127 124 121 116 Junior voting convertible preferred stock 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Common stock 6,249 6,588 6,640 6,637 7,041 7,665 8,003 8,348 9,513 9,416 Retained earnings 2,256 2,369 2,537 2,698 2,922 3,101 3,277 3,226 3,525 3,827 Cumulative foreign currency translation adjustment (711) (760) (853) (741) (756) (861) (958) (1,048) (1,193) (1,606) Common stock held in treasury (50) (1) (1) (49) (16) (84) (18) (32) (1,082) (861) Restricted stock and other 51 121 108 105 180 179 155 148 157 152 Total Shareholders' Equity 8,824 9,206 9,345 9,570 10,140 10,769 11,276 11,470 11,727 11,740 Total Liabilities and Shareholders' Equity $ 32,699 $ 34,147 $ 33,576 $ 33,381 $ 37,484 $ 45,566 $ 52,996 $ 65,503 $ 67,260 $ 63,392 EC46649AO030235 Printed: 10/16/2001 8:34 AM Pg 4 EXH066-00517 ============= Page 45 of 49 ============= CONSOLIDATED STATEMENT OF CASH FLOWS Cash Flows From Operating Activities Reconciliation of net income to net cash provided by (used in) operating activities Net income $ 122 $ 344 $ 634 $ 893 $ 338 $ 627 $ 919 $ 979 $ 425 $ 829 Cumulative effect of accounting changes 131 131 131 131 - - - - (19) (19) Depreciation, depletion and amortization 215 451 676 870 172 364 620 855 213 453 Impairment of long-lived assets (including equity investments) - - 441 441 - - - 326 - - Deferred income taxes 2 (11) (38) 21 30 31 22 207 113 188 Gains on sales of non-merchant assets (12) (12) (461) (541) (18) (90) (135) (146) (32) (50) Changes in components of working capital: Net margin deposit activity - - - - 72 255 541 1,880 (403) (2,342) Other working capital (556) (909) (1,072) (1,000) (385) (779) (729) (111) (196) (800) Net assets from price risk management activities (518) 247 55 (395) (52) (799) (952) (763) (270) 782 Merchant assets and investments: Realized (gains) losses on sales (22) (161) (252) (756) (31) 29 15 (104) 26 (64) Proceeds from sales 26 561 708 2,217 199 553 683 1,838 135 479 Additions and unrealized gains (135) (829) (657) (827) (517) (1,095) (1,414) (1,295) (74) (154) Other operating activities 87 150 208 174 265 357 530 1,113 382 639 Net Cash Provided by (Used in) Operating Activities 660 38 43 1,228 457 547 100 4,779 464 1,337 Cash Flows From Investing Activities Capital expenditures (519) (969) (2,022) (2,363) (496) (1,009) (1,549) (2,381) (382) (1,200) Equity investments (409) (648) (718) (722) (316) (390) (870) (933) (716) (1,088) Proceeds from sales of non-merchant assets 43 138 245 294 17 105 222 494 339 1,423 Acquisition of subsidiary stock - - - - (485) (485) (485) (485) - - Business acquisitions, net of cash acquired (38) (40) (213) (311) (144) (358) (773) (777) (33) (34) Other investing activities 207 340 447 405 69 117 147 182 332 262 Net Cash Used in Investing Activities 1,130 1,859 3,155 3,507 (1,493) 2,254 3,602 4,264 1,124 1,161 Cash Flows From Financing Activities Issuance of long-term debt 114 1,301 1,570 1,776 1,361 2,479 2,725 3,994 1,747 2,864 Repayment of long-term debt (68) (645) (1,417) (1,837) (393) (431) (545) (2,337) (996) (1,782) Net increase (decrease) in short-term borrowings 1,119 128 2,038 1,565 962 1,301 1,694 (1,595) 799 1,169 Net issuance (redemption) of company-obligated preferred securities of subsidiaries - - - - 105 (95) (95) (96) - - Issuance of common stock 839 889 889 852 179 264 182 307 119 185 Issuance of subsidiary equity - 513 513 568 - - - 500 - - Dividends paid (113) (227) (346) (467) (156) (265) (396) (523) (143) (256) Net (acquisition) disposition of treasury stock 119 181 223 139 70 (129) 354 327 (226) (209) Other financing activities 35 68 67 140 107 8 6 Net Cash Provided by Financing Activities 1,975 2,072 3,403 2,456 2128 3,231 3,911 571 1,300 1,971 Increase (Decrease) in Cash and Cash Equivalents 185 175 205 177 178 430 409 1,086 (288) (527) Cash and Cash Equivalents, Beginning of Period 111 111 111 111 288 288 288 288 1,374 1,374 rt2eh ,nr1 each Fni valnnfc Fnrl of Porind x 906 4 099 Q Ila @ 9AR C ARR 2 749 x 907 Q f 47A a nnc a 4A7 EC46649A0030236 Printed: 10/16/2001 8:35 AM Pg 5 EXH066-00518 ============= Page 46 of 49 ============= SELECTED FINANCIAL AND OPERATING HIGHLIGHTS Mohal Services -Transportation Services 2000 2001 In Millions, Except Where Noted 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Transportation Services Gross Margin $ 208 $ 159 $ 132 $ 198 $ 697 $ 243 $ 121 $ 136 $ 500 Operating Expenses 72 86 74 93 325 107 54 75 236 Depreciation and Amortization 16 17 17 18 68 17 17 17 51 Equity in Earnings of Unconsolidated Affiliates 7 10 28 18 63 14 16 19 49 Other, net 1 12 14 (2) 25 - 11 22 33 Reported Income Before Interest and Taxes $ 128 $ 78 $ 83 $ 103 $ 392 $ 133 $ 77 $ 85 $ 295 Northern Natural Gas (100% Owned) Transportation Revenues $ 164 $ 69 $ 77 $ 136 $ 446 $ 170 $ 76 $ 77 $ 323 Average Transportation Rate (per MMBtu) $ 0.44 $ 0.23 $ 0.28 $ 0.40 $ 0.34 $ 0.50 $ 0.29 $ 0.30 $ 0.38 Gas Transportation BBtu/d 4,147 3,237 3,009 3,728 3,529 3,750 2,908 2,770 3,139 Transwestern-Pipeline (100% Owned) Transportation Revenues $ 36 $ 36 $ 39 $ 40 $ 151 $ 41 $ 45 $ 41 $ 127 Average Transportation Rate (per MMBtu) $ 0.24 $ 0.25 $ 0.24 $ 0.25 $ 0.25 $ 0.26 $ 0.25 $ 0.25 $ 0.25 Gas Transportation BBtu/d 1,566 1,606 1,746 1,715 1,657 1,744 1,973 1,823 1,847 Florida Gas Transmission (50% Owned) Transportation Revenues $ 76 $ 77 $ 78 $ 77 $ 308 $ 80 $ 87 $ 90 $ 257 Average Transportation Rate (per MMBtu) $ 0.54 $ 0.53 $ 0.51 $ 0.66 $ 0.56 $ 0.72 $ 0.61 $ 0.51 $ 0.60 Gas Transportation BBtu/d 1,563 1,591 1,649 1,270 1,501 1,234 1,574 1,927 1,578 Northern Border Pipeline (12% Owned) Transportation Revenues $ 76 $ 77 $ 78 $ 79 $ 310 $ 77 $ 77 $ 78 $ 232 Gas Transportation(BBtu/d) 2,464 2,429 2,420 2,460 2,443 2,490 2,303 2,295 2,362 Rate per 100 Dekatherm Miles $ 0.041 $ 0.041 $ 0.040 $ 0.040 $ 0.041 $ 0.037 $ 0.037 $ 0.037 $ 0.037 EC46649AO030237 Printed: 10/16/2001 8:35 AM Pg 6 EXH066-00519 ============= Page 47 of 49 ============= SELECTED FINANCIAL AND OPERATING HIGHLIGHTS Transoortation and Distribution - Portland General Electric In Millions Except Where Noted 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Revenues (Portland General Group) Residential $ 135 $ 99 $ 90 $ 124 $ 448 $ 134 $ 98 $ 92 $ 324 Commercial 92 92 102 102 388 94 90 95 279 Industrial 46 51 56 55 208 48 47 52 147 Accrued (Collected) Revenues 3 2 9 - 14 - - - - Retail Revenues 276 244 257 281 1,058 276 235 239 750 Wholesale 114 182 466 409 1,171 480 587 576 1,643 Other 7 5 6 9 27 11 9 90 110 Total Revenues 397 431 729 699 2,256 767 831 905 2,503 Purchased Power & Fuel 203 251 522 485 1,461 582 624 823 2,029 Operating Expenses 77 77 85 81 320 67 94 68 229 Depreciation & Amortization 46 47 59 59 211 51 55 32 138 Other Income (Expense) 34 6 11 26 77 7 7 1 1 Income Before Interest and Taxes $ 105 62 $ 74 $ 100 $ 341 $ 60 $ 65 $ 17 $ 108 Operating Statistics (Portland General Electric) Retail Customers (End of Period, Thousands) 724 726 722 725 725 728 730 732 732 Electricity Sales (Thousand MWh) Residential 2,361 1,480 1,444 2,148 7,433 2,171 1,548 1,432 5,151 Commercial 1,872 1,769 1,964 1,922 7,527 1,820 1,785 1,870 5,475 Industrial 1,169 1235 1,249 1,259 4,912 1,200 1,139 1207 3,546 Total Retail 5,402 4,484 4,657 5,329 19,872 5,191 4,472 4,509 14,172 Wholesale 4,281 4,909 5,703 3,655 18,548 2,739 3,035 4,062 9,836 Total Sales 9,683 9,393 10,360 8,984 38,420 7,930 7,507 8,571 24,008 Average Billed Revenue (˘ per kWh) Residential 5.72 6.69 6.23 5.77 6.03 6.17 6.33 6.42 6.29 Commercial 4.91 5.20 5.19 5.31 5.15 5.16 5.04 5.08 5.10 Industrial 3.93 4.13 4.48 4.37 4.23 4.00 4.13 4.31 4.15 Total Retail 5.05 5.40 5.33 5.27 5.25 5.32 5.25 5.30 5.29 Wholesale 2.66 3.71 8.17 11.19 6.31 17.52 19.34 14.18 16.70 Total Sales 4.00 4.51 6.89 7.68 5.77 9.53 10.95 9.51 9.97 Resource Mix Coal 13% 7% 9% 14% 11% 16% 12% 16% 15% Combustion Turbine 10% 6% 14% 17% 12% 17% 17% 16% 17% Hydro 8% 7% 4% 6% 6% 6% 7% 4% 6% Total Generation 31% 20% 27% 37% 29% 39% 36% 36% 38% Firm Purchases 62% 74% 63% 53% 63% 53% 58% 58% 56% Secondary Purchases 7% 6% 10% 10% 8% 8% 6% 6% 6% Total Resources 100% 100% 100% 100% 100% 100% 100% 100% 100% Average Variable Power Cost (Mills/kWh) Generation 12.1 14.5 15.1 16.0 14.5 24.0 19.6 22.2 22.2 Firm Purchases 23.3 25.0 50.1 43.0 34.9 91.2 111.7 127.8 111.3 Secondary Purchases 25.5 74.6 126.6 226.6 123.6 173.9 177.2 30.6 130.9 EXH066-00520 EC46649AO030238 Printed: 10/1612001 8:35 AM Pg 7 ============= Page 48 of 49 ============= SELECTED FINANCIAL AND OPERATING HIGHLIGHTS Wholesale Businesses 2000 2001 (In Millions, Except Where Noted) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Americas Revenues (1) $ 7,804 $ 11,672 $ 21,655 $ 25,405 $ 66,536 $ 29,286 $ 27,083 $ 29,519 $ 85,888 Cost of Sales 7,421 11,069 20,987 24,837 64,314 28,384 26,192 28,554 83,130 Operating Expenses 306 334 106 72 818 247 235 142 624 Depredation and amortization 22 27 24 27 100 29 50 53 132 Equity earnings (losses) 169 41 21 93 324 (63) 3 (67) (127) Other, net 15 13 (23) (101) (96) (33) 31 (2) (4) IBIT (1) $ 239 $ 296 $ 536 $ 461 $ 1,532 $ 530 $ 640 $ 701 $ 1,871 Europe and Other Revenues $ 4,200 $ 3,793 $ 7,168 $ 13,766 $ 28,927 $ 14,201 $ 17,872 $ 16,447 $ 48,520 Cost of Sales 3,986 3,572 6,917 13,354 27,829 13,818 17,544 16,139 47,501 Operating Expenses 79 127 194 264 664 231 234 217 682 o Depredation and amortization 18 17 16 22 73 21 23 22 66 Equity earnings (losses) 7 5 (9) (8) (5) 17 (1) (6) 10 Other, net 2 4 21 145 172 II 27 (10) 28 IBIT $ 126 $ 86 $ 53 $ 263 $ 528 $ 159 $ 97 $ 53 $ 309 Physical Volumes (BBtueld) Gas: Americas 21,120 23,059 25,253 29,341 24,707 27,766 25,950 26,659 26,787 Europe and Other 2,411 3,567 3,595 4,860 3,612 8,695 7,273 9,338 8,438 Total Physical Gas Volumes 23,531 26,626 28,848 34,201 28,319 36,461 33,223 35,997 35,225 Power: (2) Americas 11,338 13,707 17,777 20,585 15,869 21,792 23,519 31,507 25,642 Europe and Other 832 1,349 1,080 2,482 1,438 4,031 7,981 11,306 7,798 Total Physical Electricity Volumes 12,170 15,056 18,857 23,067 17,307 25,823 31,500 42,813 33,440 Crude Oil and Liquids 6,134 5,048 5,754 7,406 6,088 6,836 10,054 9,410 8,776 Total Physical Volumes 41,835 46,730 53,459 64,674 51,714 69,120 74,777 88,220 77,441 Power Volumes (Thousand MWh) Americas 103,174 124,729 163,556 189,384 580,843 196,129 214,025 289,853 700,007 Europe and Other 7,573 12,272 9,932 22,837 52,614 36,273 72,627 104,006 212,906 Transaction Volumes Marketed 110,747 137,001 173,488 212,221 633,457 232,402 286,652 393,859 912,913 Financial Settlements (Notional)(BBtueld) Americas 107,256 113,153 163,995 217,303 150,647 242,372 196,804 247,467 228,900 Europe and Other 34,609 39,474 48,179 59,562 45,501 60,322 61,639 71,930 64,672 Total Financial Settlements 141,865 152,627 212,174 276,865 196,148 302,694 258,443 319,397 293,572 Other Commodity Volumes Crude Oil and Liquids (MM BBL) 100 95 105 139 439 112 165 157 434 Coal (thousand tons) 8,747 9,954 9,942 15,938 44,581 21,531 23,908 24,953 70,392 Weather (notional value $MM) 325 23 164 86 598 290 185 304 779 LNG (Bbtue) - - - - - 2,812 5,978 8,874 17,664 Metals (thousand tons) 920 1,057 969 1,759 4,705 2,585 1,957 2,362 6,904 Forest Products (thousand tons) 40 41 101 308 490 421 774 899 2,094 Steel (thousand ton 4 235 648 887 (1) Beginning in 2001, risk management activitiess associated with Enron s retail customers are managed by Wholesale Services. Prior period Wholesale Businesses and Retail Energy Services amounts have been restated. (2) Represents power volumes, converted to BBlueld EC46649AO030239 Printed: 10/16/2001 8:35 AM Pge EXH066-00521 ============= Page 49 of 49 ============= S- --TED FINANCIAL AND OPERATING HIGHLIGHTS Retail Energy Services 2000 2001 In Millions, Except Where Noted 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Revenues (1) $ 313 $ 421 $ 535 $ 496 $ 1,765 $ 693 $ 557 $ 501 $ 1,751 Cost of Sales 234 292 406 301 1,233 495 328 261 1,084 Operating Expenses 86 83 115 99 383 164 168 142 474 Depreciation and amortization 9 9 10 8 36 9 10 10 29 Equity eamings (losses) 2 (25) (15) (22) (60) (15) (13) (17) (45) Other, net 20 34 38 34 58 30 22 - 52 IBIT (recurring) (1) $ 6 $ 46 $ 27 $ 32 $ 111 $ 40 $ 60 $ 71 $ 171 Broadband Services 2000 2001 In Millions, Except Where Noted 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Revenues $ 59 $ 124 $ 162 $ 63 $ 408 $ 83 $ 16 $ 4 $ 103 Cost of Sales 8 48 8 27 91 29 22 8 59 Operating Expenses 49 77 123 56 305 78 77 58 213 Depreciation and amortization 3 8 52 14 77 14 16 19 49 Equity earnings (losses) - 2 (1) - 1 3 - (4) (1) Other, net 1 1 2 2 4 3 5 2 IBIT $ - $ (8) $ (20) $ (32) $ (60) $ (35) $ (102) $ (80) $ (217) (1) Beginning in 2001, risk management activities associated with Enron's retail customers are managed by Wholesale Services. Prior period Wholesale Businesses and Retail Energy Services amounts have been restated EC46649AO030240 Printed: 10/16/2001 6:35 AM Pg 9 EXH066-00522