Seattle City Light 2016 ANNUAL REPORT | Audited Financial Statements 21 - 21 - BALANCE SHEETS - LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION AS OF DECEMBER 31, 2016 AND 2015 ($ in millions) 2016 2015 LIABILITIES LONG-TERM DEBT: Revenue bonds 2,118.1 $ 2,070.8 $ Plus bond premium—net 158.4 125.9 Less revenue bonds—current portion (111.2) (105.9) Total long-termdebt 2,165.3 2,090.8 NONCURRENT LIABILITIES: Net pension liability 317.8 271.8 Accumulated provision for injuries and damages 92.0 42.3 Compensated absences 15.8 19.4 Other noncurrent liabilities 8.0 8.0 Total noncurrent liabilities 433.6 341.5 CURRENT LIABILITIES: Accounts payable and other current liabilities 99.5 106.6 Interfund payables 11.1 11.0 Accrued payroll and related taxes 10.8 10.3 Compensated absences 2.5 3.6 Accrued interest 31.4 34.0 Long-termdebt—current portion 111.2 105.9 Total current liabilities 266.5 271.4 OTHER LIABILITIES 37.2 29.7 TOTAL LIABILITIES 2,902.6 2,733.4 DEFERRED INFLOWS OF RESOURCES Rate stabilization unearned revenue 66.1 66.0 Unrealized gains related to pension 0.8 - Other deferred inflows of resources (includes $1.2 and $0.6 at fair value) 27.3 23.9 TOTAL DEFERRED INFLOWS OF RESOURCES 94.2 89.9 NET POSITION Net investment in capital assets 1,310.5 1,169.6 Restricted: Rate stabilization account 25.0 25.0 Special deposits and other purposes - - Total restricted 25.0 25.0 Unrestricted—net (118.0) (62.4) Total net position 1,217.5 1,132.2 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION 4,214.3 $ 3,955.5 $ See notes to financial statements. THE CITY OF SEATTLE—CITY LIGHT DEPARTMENT - 21 - BALANCE SHEETS - LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION AS OF DECEMBER 31, 2016 AND 2015 ($ in millions) 2016 2015 LIABILITIES LONG-TERM DEBT: Revenue bonds 2,118.1 $ 2,070.8 $ Plus bond premium—net 158.4 125.9 Less revenue bonds—current portion (111.2) (105.9) Total long-termdebt 2,165.3 2,090.8 NONCURRENT LIABILITIES: Net pension liability 317.8 271.8 Accumulated provision for injuries and damages 92.0 42.3 Compensated absences 15.8 19.4 Other noncurrent liabilities 8.0 8.0 Total noncurrent liabilities 433.6 341.5 CURRENT LIABILITIES: Accounts payable and other current liabilities 99.5 106.6 Interfund payables 11.1 11.0 Accrued payroll and related taxes 10.8 10.3 Compensated absences 2.5 3.6 Accrued interest 31.4 34.0 Long-termdebt—current portion 111.2 105.9 Total current liabilities 266.5 271.4 OTHER LIABILITIES 37.2 29.7 TOTAL LIABILITIES 2,902.6 2,733.4 DEFERRED INFLOWS OF RESOURCES Rate stabilization unearned revenue 66.1 66.0 Unrealized gains related to pension 0.8 - Other deferred inflows of resources (includes $1.2 and $0.6 at fair value) 27.3 23.9 TOTAL DEFERRED INFLOWS OF RESOURCES 94.2 89.9 NET POSITION Net investment in capital assets 1,310.5 1,169.6 Restricted: Rate stabilization account 25.0 25.0 Special deposits and other purposes - - Total restricted 25.0 25.0 Unrestricted—net (118.0) (62.4) Total net position 1,217.5 1,132.2 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION 4,214.3 $ 3,955.5 $ See notes to financial statements. THE CITY OF SEATTLE—CITY LIGHT DEPARTMENT - 21 - BALANCE SHEETS - LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION AS OF DECEMBER 31, 2016 AND 2015 ($ in millions) 2016 2015 LIABILITIES LONG-TERM DEBT: Revenue bonds 2,118.1 $ 2,070.8 $ Plus bond premium—net 158.4 125.9 Less revenue bonds—current portion (111.2) (105.9) Total long-termdebt 2,165.3 2,090.8 NONCURRENT LIABILITIES: Net pension liability 317.8 271.8 Accumulated provision for injuries and damages 92.0 42.3 Compensated absences 15.8 19.4 Other noncurrent liabilities 8.0 8.0 Total noncurrent liabilities 433.6 341.5 CURRENT LIABILITIES: Accounts payable and other current liabilities 99.5 106.6 Interfund payables 11.1 11.0 Accrued payroll and related taxes 10.8 10.3 Compensated absences 2.5 3.6 Accrued interest 31.4 34.0 Long-termdebt—current portion 111.2 105.9 Total current liabilities 266.5 271.4 OTHER LIABILITIES 37.2 29.7 TOTAL LIABILITIES 2,902.6 2,733.4 DEFERRED INFLOWS OF RESOURCES Rate stabilization unearned revenue 66.1 66.0 Unrealized gains related to pension 0.8 - Other deferred inflows of resources (includes $1.2 and $0.6 at fair value) 27.3 23.9 TOTAL DEFERRED INFLOWS OF RESOURCES 94.2 89.9 NET POSITION Net investment in capital assets 1,310.5 1,169.6 Restricted: Rate stabilization account 25.0 25.0 Special deposits and other purposes - - Total restricted 25.0 25.0 Unrestricted—net (118.0) (62.4) Total net position 1,217.5 1,132.2 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION 4,214.3 $ 3,955.5 $ See notes to financial statements. THE CITY OF SEATTLE—CITY LIGHT DEPARTMENT - 21 - BALANCE SHEETS - LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION AS OF DECEMBER 31, 2016 AND 2015 ($ in millions) 2016 2015 LIABILITIES LONG-TERM DEBT: Revenue bonds 2,118.1 $ 2,070.8 $ Plus bond premium—net 158.4 125.9 Less revenue bonds—current portion (111.2) (105.9) Total long-termdebt 2,165.3 2,090.8 NONCURRENT LIABILITIES: Net pension liability 317.8 271.8 Accumulated provision for injuries and damages 92.0 42.3 Compensated absences 15.8 19.4 Other noncurrent liabilities 8.0 8.0 Total noncurrent liabilities 433.6 341.5 CURRENT LIABILITIES: Accounts payable and other current liabilities 99.5 106.6 Interfund payables 11.1 11.0 Accrued payroll and related taxes 10.8 10.3 Compensated absences 2.5 3.6 Accrued interest 31.4 34.0 Long-termdebt—current portion 111.2 105.9 Total current liabilities 266.5 271.4 OTHER LIABILITIES 37.2 29.7 TOTAL LIABILITIES 2,902.6 2,733.4 DEFERRED INFLOWS OF RESOURCES Rate stabilization unearned revenue 66.1 66.0 Unrealized gains related to pension 0.8 - Other deferred inflows of resources (includes $1.2 and $0.6 at fair value) 27.3 23.9 TOTAL DEFERRED INFLOWS OF RESOURCES 94.2 89.9 NET POSITION Net investment in capital assets 1,310.5 1,169.6 Restricted: Rate stabilization account 25.0 25.0 Special deposits and other purposes - - Total restricted 25.0 25.0 Unrestricted—net (118.0) (62.4) Total net position 1,217.5 1,132.2 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION 4,214.3 $ 3,955.5 $ See notes to financial statements. THE CITY OF SEATTLE—CITY LIGHT DEPARTMENT