Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90Seattle City Light 2015 Annual Report - 4 - THE CITY OF SEATTLE—CITY LIGHT DEPARTMENT MANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED) AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2015 and 2014 CONDENSED BALANCE SHEETS ($ in millions) 2015 2014 2013 Assets: Utility plant—net 2,961.5 $ 2,728.3 $ 2,541.1 $ Restricted assets 265.1 298.4 227.0 Current assets 339.6 298.8 369.1 Other assets 339.5 319.7 301.0 Total assets 3,905.7 3,645.2 3,438.2 Total deferred outflows of resources 49.8 19.3 26.0 Total assets and deferred outflows of resources 3,955.5 $ 3,664.5 $ 3,464.2 $ Liabilities: Long-term debt 2,090.8 $ 1,925.2 $ 1,870.3 $ Noncurrent liabilities 341.5 67.3 78.1 Current liabilities 271.4 258.3 241.7 Other liabilities 29.7 26.7 19.2 Total liabilities 2,733.4 2,277.5 2,209.3 Total deferred inflows of resources 89.9 111.5 100.7 Net position: Net investment in capital assets 1,169.6 1,100.8 906.1 Restricted: Rate stabilization account 25.0 25.0 25.0 Special deposits and other purposes - - (0.4) Total restricted 25.0 25.0 24.6 Unrestricted—net (62.4) 149.7 223.5 Total net position 1,132.2 1,275.5 1,154.2 Total liabilities, deferred inflows, and net position 3,955.5 $ 3,664.5 $ 3,464.2 $ December 31 4