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spectra energy 2007RegGSECorpQ2_forslides
 

spectra energy 2007RegGSECorpQ2_forslides

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    spectra energy 2007RegGSECorpQ2_forslides spectra energy 2007RegGSECorpQ2_forslides Document Transcript

    • Spectra Energy Corp Non-GAAP Reconciliation for SEC Regulation G August 6, 2007 Ongoing Diluted Earnings-per-share (“EPS”) Growth Percentages The materials for Spectra Energy’s 2Q 2007 Earnings Release call on August 6, 2007 include a discussion of the anticipated growth in ongoing diluted EPS through at least 2009 for Spectra Energy. These growth percentages are based on anticipated ongoing diluted EPS. Ongoing diluted EPS is a non-GAAP financial measure, as it represents diluted EPS from continuing operations adjusted for the per share impact of special items. Special items represent certain charges and credits which management believes will not be recurring on a regular basis. The most directly comparable GAAP measure for ongoing diluted EPS is reported diluted EPS from continuing operations, which includes the impact of special items. Due to the forward-looking nature of this non-GAAP financial measure for future periods, information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to forecast any special items for future periods. Reconciliation of Ongoing EBITDA U.S. Transmission Segment (Dollars in Millions) Q2 07 Q2 06 Reported EBIT (Includes 50% Gulfstream’s Net Income) 223 230 Depreciation and Amortization 52 50 Reported EBITDA (Includes 50% of Gulfstream's Net Income) $ 275 $ 280 50% of Gulfstream D&A 4 4 50% of Gulfstream Interest 6 7 $ 285 $ 291 Reported EBITDA Special Item - - Ongoing EBITDA $ 285 $ 291 1
    • Reconciliation of Ongoing EBITDA Distribution Segment (Dollars in Millions) Q2 07 Q2 06 54 39 Reported EBIT Depreciation and Amortization 40 37 $ 94 $ 76 Reported EBITDA Special Item - - Ongoing EBITDA $ 94 $ 76 Reconciliation of Ongoing EBITDA Western Canada Transmission & Processing Segment (Dollars in Millions) Q2 07 Q2 06 48 89 Reported EBIT Depreciation and Amortization 34 33 $ 82 $ 122 Reported EBITDA Special Item - - Ongoing EBITDA $ 82 $ 122 2
    • Reconciliation of Ongoing EBITDA Field Services Segment (Dollars in Millions) Q2 07 Q2 06 $ 123 $ 149 Equity Earnings (50% of DCP Midstream's Net Income) O&M Expense - (1) $ 123 $ 148 Reported EBIT 50% of DCP Midstream D&A 37 35 50% of DCP Midstream Interest 17 17 50% of DCP Midstream Income Taxes 2 9 $ 179 $ 209 Reported EBITDA Special Items 3 - Ongoing EBITDA $ 182 $ 209 Net Debt to Capital Ratio As of June 30, 2007 (Dollars in Millions) Total Debt $ 9,278 Cash (529) Net Debt 8,749 Minority Interest 594 Equity 6,144 Total Net Capital $ 15,487 Net Debt to Capital Ratio 56.49% 3