Seattle City Light 2016 ANNUAL REPORT | Audited Financial Statements 4 THE CITY OF SEATTLE—CITY LIGHT DEPARTMENT MANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED) AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2016 and 2015 - 4 - CONDENSED BALANCE SHEETS ($ in millions) 2016 2015 2014 Assets: Utility plant—net 3,214.7 $ 2,961.5 $ 2,728.3 $ Restricted assets 222.0 265.1 298.4 Current assets 286.5 339.6 298.8 Other assets 396.2 339.5 319.7 Total assets 4,119.4 3,905.7 3,645.2 Total deferred outflows of resources 94.9 49.8 19.3 Total assets and deferred outflows of resources 4,214.3 $ 3,955.5 $ 3,664.5 $ Liabilities: Long-term debt 2,165.3 $ 2,090.8 $ 1,925.2 $ Noncurrent liabilities 433.6 341.5 67.3 Current liabilities 266.5 271.4 258.3 Other liabilities 37.2 29.7 26.7 Total liabilities 2,902.6 2,733.4 2,277.5 Total deferred inflows of resources 94.2 89.9 111.5 Net position: Net investment in capital assets 1,310.5 1,169.6 1,100.8 Restricted: Rate stabilization account 25.0 25.0 25.0 Special deposits and other purposes - - - Total restricted 25.0 25.0 25.0 Unrestricted—net (118.0) (62.4) 149.7 Total net position 1,217.5 1,132.2 1,275.5 Total liabilities, deferred inflows, and net position 4,214.3 $ 3,955.5 $ 3,664.5 $ December 31