UIL HOLDINGS CORP - FORM 8-K - EX-99.3 - UIL EXHIBIT 99.3 - FINANCIAL STATEMENTS OF THE SOUTHERN CONNECTICUT GAS COMPANY AS OF JUNE 30, 2011 AND DECEMBER 31, 2010 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 2010 (UNAUDITED).

file	filename
EX-99.1 - UIL EXHIBIT 99.1 -FINANCIAL STATEMENTS OF THE UNITED ILLUMINATING COMPANY AS OF AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 2010 (UNAUDITED). - UIL HOLDINGS CORP	uil_exh99-1.htm
8-K - UIL FORM 8-K DATED SEPTEMBER 9, 2011 - UIL HOLDINGS CORP	uil_form8kdated09092011.htm
EX-99.2 - UIL EXHIBIT 99.2 - FINANCIAL STATEMENTS OF CONNECTICUT NATURAL GAS CORPORATION AS OF JUNE 30, 2011 AND DECEMBER 31, 2010 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 2010 (UNAUDITED). - UIL HOLDINGS CORP	uil_exh99-2.htm
EX-99.4 - UIL EXHIBIT 99.4 - FINANCIAL STATEMENTS OF THE BERKSHIRE GAS COMPANY AS OF JUNE 30, 2011 AND DECEMBER 31, 2010 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 2010 (UNAUDITED). - UIL HOLDINGS CORP	uil_exh99-4.htm

						EXHIBIT 99.3



FINANCIAL STATEMENTS

OF

THE SOUTHERN CONNECTICUT GAS COMPANY

AS OF JUNE 30, 2011 AND DECEMBER 31, 2010 AND
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 2010

(UNAUDITED)

THE SOUTHERN CONNECTICUT GAS COMPANY

TABLE OF CONTENTS

	Page
	Number

Financial Statements:

Statement of Income for the three and six months ended June 30, 2011 and 2010		3

Balance Sheet as of June 30, 2011 and December 31, 2010		4

Statement of Cash Flows for the six months ended June 30, 2011 and 2010		6

Statement of Changes in Shareholder's Equity		7

THE SOUTHERN CONNECTICUT GAS COMPANY
STATEMENT OF INCOME
(In Thousands)
(Unaudited)

	Three Months Ended						Six Months Ended
	June 30,						June 30,

	2011			2010			2011			2010


Operating Revenues	$	61,045		$	55,423		$	226,701		$	206,882

Operating Expenses
Operation
Natural gas purchased		28,842			24,375			133,987			115,107
Operation and maintenance		18,846			17,454			38,709			33,097
Depreciation and amortization		4,263			4,390			8,511			8,766
Goodwill impairment charge		-			178,885			-			178,885
Taxes - other than income taxes		3,623			3,770			11,872			12,157
Total Operating Expenses		55,574			228,874			193,079			348,012
Operating Income		5,471			(173,451	)		33,622			(141,130	)

Other Income and (Deductions), net		(32	)		9			(80	)		161

Interest Charges, net
Interest on long-term debt		3,178			4,076			6,516			8,114
Other interest, net		634			331			800			431
		3,812			4,407			7,316			8,545
Amortization of debt expense and redemption premiums		79			88			159			177
Total Interest Charges, net		3,891			4,495			7,475			8,722


Income Before Income Taxes, Equity Earnings		1,548			(177,937	)		26,067			(149,691	)

Income Taxes		1,146			533			10,846			12,252

Net Income	$	402		$	(178,470	)	$	15,221		$	(161,943	)

THE SOUTHERN CONNECTICUT GAS COMPANY
BALANCE SHEET

ASSETS
(In Thousands)
(Unaudited)
	June 30,		December 31,
	2011		2010
Current Assets
Unrestricted cash and temporary cash investments	$	6,884	$	11,542
Accounts receivable less allowance of $3,600 and $2,102, respectively		51,552		52,718
Unbilled revenues		5,368		18,222
Inter-company receivable		18,000		-
Current regulatory assets		17,312		34,195
Deferred income taxes		2,244		1,919
Natural gas in storage, at average cost		35,491		48,578
Materials and supplies		1,139		883
Prepayments		455		4,418
Derivative assets		20		4
Total Current Assets		138,465		172,479

Other investments		8,189		12,422

Net Property, Plant and Equipment		468,945		460,560

Regulatory Assets (future amounts due from customers through the ratemaking process)		152,067		160,505

Deferred Charges and Other Assets
Unamortized debt issuance expenses		4,415		5,085
Goodwill		133,892		132,473
Other		1,909		1,025
Total Deferred Charges and Other Assets		140,216		138,583

Total Assets	$	907,882	$	944,549

THE SOUTHERN CONNECTICUT GAS COMPANY
BALANCE SHEET

LIABILITIES AND CAPITALIZATION
(In Thousands)
(Unaudited)
	June 30,			December 31,
	2011			2010
Current Liabilities
Line of credit borrowings	$	-		$	7,000
Current portion of long-term debt		32,916			33,713
Accounts payable		37,667			44,486
Accrued liabilities		9,266			11,863
Current regulatory liabilities		16,080			8,401
Interest accrued		1,779			1,788
Taxes accrued		6,003			6,337
Total Current Liabilities		103,711			113,588

Noncurrent Liabilities
Pension accrued		34,156			41,048
Other post-retirement benefits accrued		20,660			20,284
Other		24,191			23,750
Total Noncurrent Liabilities		79,007			85,082

Deferred Income Taxes (future tax liabilities owed to taxing authorities)		12,543			5,664


Regulatory Liabilities (future amounts owed to customers through the ratemaking process)		120,105			128,670

Commitments and Contingencies

Capitalization
Long-term debt		189,490			190,751

Common Stock Equity
Common stock		18,761			18,761
Paid-in capital		396,937			396,071
Retained earnings		(12,973	)		5,806
Accumulated other comprehensive income		301			156
Net Common Stock Equity		403,026			420,794

Total Capitalization		592,516			611,545

Total Liabilities and Capitalization	$	907,882		$	944,549

THE SOUTHERN CONNECTICUT GAS COMPANY
STATEMENT OF CASH FLOWS
(In Thousands)
(Unaudited)

	Six Months Ended
	June 30,
	2011			2010
Cash Flows From Operating Activities
Net income	$	15,221		$	(161,943	)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		8,670			8,766
Deferred income taxes		(1,743	)		(4,737	)
Pension expense		3,029			2,060
Goodwill impairment charge		-			178,885
Deferred purchased gas		21,372			19,261
Other non-cash items, net		6,829			(5,946	)
Changes in:
Accounts receivable, net		(334	)		(4,061	)
Unbilled revenues		12,855			9,348
Prepayments		3,963			5,281
Natural gas in storage		13,088			19,002
Accounts payable		(7,988	)		(12,580	)
Interest accrued		(8	)		(1,144	)
Taxes accrued		(334	)		14,064
Accrued liabilities		(2,598	)		(846	)
Accrued pension		(9,545	)		265
Other assets		(484	)		(2,103	)
Other liabilities		579			657
Total Adjustments		47,351			226,172
Net Cash provided by Operating Activities		62,572			64,229

Cash Flows from Investing Activities
Inter-company receivable		(18,000	)		-
Plant expenditures including AFUDC debt		(7,895	)		(8,541	)
Other		(335	)		296
Net Cash (used in) Investing Activities		(26,230	)		(8,245	)

Cash Flows from Financing Activities
Line of credit borrowings (repayments)		(7,000	)		-
Payment of common stock dividend		(34,000	)		(14,000	)
Net Cash provided by Financing Activities		(41,000	)		(14,000	)

Unrestricted Cash and Temporary Cash Investments:
Net change for the period		(4,658	)		41,984
Balance at beginning of period		11,542			17,065
Balance at end of period	$	6,884		$	59,049

THE SOUTHERN CONNECTICUT GAS COMPANY
STATEMENT OF CHANGES IN SHAREHOLDER'S EQUITY
June 30, 2011
(Thousands of Dollars)
(Unaudited)

										Accumulated
										Other
	Common Stock				Paid-in		Retained			Comprehensive
	Shares		Amount		Capital		Earnings			Income		Total
Balance as of December 31, 2010		1,407,072	$	18,761	$	396,071	$	5,806		$	156	$	420,794

Net income								15,221					15,221
Adjustment to goodwill						866							866
Other comprehensive income, net of tax											145		145
Payment of common stock dividend								(34,000	)				(34,000	)
Balance as of June 30, 2011		1,407,072	$	18,761	$	396,937	$	(12,973	)	$	301	$	403,026

UIL HOLDINGS CORP - FORM 8-K - EX-99.3 - UIL EXHIBIT 99.3 - FINANCIAL STATEMENTS OF THE SOUTHERN CONNECTICUT GAS COMPANY AS OF JUNE 30, 2011 AND DECEMBER 31, 2010 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 2010 (UNAUDITED). - September 9, 2011