EN1 | Enron Corp. 2000 Form 10-K. Filed 2001-04-02; fiscal year ended December 31, 2000. Source: https://www.sec.gov/Archives/edgar/data/1024401/000102440101500010/ene10-k.txt
The following passages are exact excerpts of the filing (original line breaks retained), omitting unrelated rows. Dollar amounts in millions unless indicated. Read the original at the URL for full context.

[Consolidated statement of comprehensive income, F-4]
(In millions)                          2000      1999      1998
Net Income                           $  979    $  893   $   703

[Consolidated balance sheet, F-5, liabilities]
(In millions, except shares)                      2000         1999
  Short-term debt                                  1,679       1,001
Long-Term Debt                                     8,550       7,151
Company-Obligated Preferred Securities
 of Subsidiaries                                     904       1,000

[Consolidated statement of cash flows, F-6]
(In millions)                                         2000      1999      1998
Cash Flows From Operating Activities
  Net income                                         $   979   $   893   $   703
  Depreciation, depletion and amortization               855       870       827
  Impairment of long-lived assets (including
   equity investments)                                   326       441         -
  Changes in components of working
   capital                                             1,769    (1,000)     (233)
  Net assets from price risk management
   activities                                           (763)     (395)      350
  Merchant assets and investments:
     Realized gains on sales                            (104)     (756)     (628)
     Proceeds from sales                               1,838     2,217     1,434
     Additions and unrealized gains                   (1,295)     (827)     (721)
  Other operating activities                           1,113       174       (97)
Net Cash Provided by Operating Activities              4,779     1,228     1,640
Cash Flows From Investing Activities
  Capital expenditures                                (2,381)   (2,363)   (1,905)
Net Cash Used in Investing Activities                 (4,264)   (3,507)   (3,965)

[Management's discussion, liquidity and capital resources]
   Net cash provided by operating activities increased $3,551
million in 2000, primarily reflecting decreases in working
capital, positive operating results and a receipt of cash
associated with the assumption of a contractual obligation.

[Note 15, Commitments]
   Firm Transportation Obligations.  Enron has firm
transportation agreements with various joint venture and
other pipelines.  Under these agreements, Enron must make
specified minimum payments each month.  At December 31, 2000,
the estimated aggregate amounts of such required future payments
were $91 million, $88 million, $89 million, $85 million and $77 million
for 2001 through 2005, respectively, and $447 million for later
years.
   Other Commitments.  Enron leases property, operating
facilities and equipment under various operating leases, certain
of which contain renewal and purchase options and residual value
guarantees.  Future commitments related to these items at
December 31, 2000 were $123 million, $98 million, $69 million,
$66 million and $49 million for 2001 through 2005, respectively,
and $359 million for later years. Guarantees under the leases
total $556 million at December 31, 2000.
   Enron guarantees the performance of certain of its
unconsolidated equity affiliates in connection with letters of
credit issued on behalf of those entities.  At December 31, 2000,
a total of $264 million of such guarantees were outstanding,
including $103 million on behalf of EOTT Energy Partners, L.P.
(EOTT).  In addition, Enron is a guarantor on certain liabilities
of unconsolidated equity affiliates and other companies totaling
approximately $1,863 million at December 31, 2000, including $538
million related to EOTT trade obligations.  The EOTT letters of
credit and guarantees of trade obligations are secured by the
assets of EOTT.  Enron has also guaranteed $386 million in lease
obligations for which it has been indemnified by an "Investment
Grade" company.  Management does not consider it likely that
Enron would be required to perform or otherwise incur any losses
associated with the above guarantees.

[Note 16, Related Party Transactions]
   In 2000 and 1999, Enron entered into transactions with limited
partnerships (the Related Party) whose general partner's managing
member is a senior officer of Enron.  The limited partners of the
Related Party are unrelated to Enron.  Management believes that
the terms of the transactions with the Related Party were reasonable
compared to those which could have been negotiated with unrelated
third parties.
   In 2000, Enron entered into transactions with the Related
Party to hedge certain merchant investments and other assets.  As
part of the transactions, Enron (i) contributed to newly-formed
entities (the Entities) assets valued at approximately $1.2
billion, including $150 million in Enron notes payable, 3.7
million restricted shares of outstanding Enron common stock and the
right to receive up to 18.0 million shares of outstanding Enron
common stock in March 2003 (subject to certain conditions) and
(ii) transferred to the Entities assets valued at approximately
$309 million, including a $50 million note payable and an
investment in an entity that indirectly holds warrants
convertible into common stock of an Enron equity method investee.
In return, Enron received economic interests in the Entities,
$309 million in notes receivable, of which $259 million is
recorded at Enron's carryover basis of zero, and a special
distribution from the Entities in the form of $1.2 billion in
notes receivable, subject to changes in the principal for amounts
payable by Enron in connection with the execution of additional
derivative instruments.
   In 2000, Enron entered into derivative transactions with the
Entities with a combined notional amount of approximately $2.1
billion to hedge certain merchant investments and other assets.
Enron's notes receivable balance was reduced by $36 million as a
result of premiums owed on derivative transactions.  Enron
recognized revenues of approximately $500 million related to the
subsequent change in the market value of these derivatives,
which offset market value changes of certain merchant investments
and price risk management activities.
   In 2000, Enron sold a portion of its dark fiber inventory to
the Related Party in exchange for $30 million cash and a $70
million note receivable that was subsequently repaid.  Enron
recognized gross margin of $67 million on the sale.
