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    December 31,  
  (Dollars in millions, except per-share amounts) 1997 1996
Assets Current assets:
Cash and cash equivalents		  

$81.3

  

$115.3
Receivables less allowance of $19.3 ($9.7 in 1996) 1,200.5 952.9
Transportation and exchange gas receivable 130.4 117.7
Inventories (Note 11) 300.5 204.6
Commodity trading assets 180.3 147.2
Deferred income taxes (Note 7) 224.6 199.5
Other 138.3 152.9
Total current assets 2,255.9 1,890.1
Investments (Note 5) 291.4 190.6
Property, plant and equipment - net (Note 12) 10,055.6 9,386.3
Goodwill and other intangible assets - net (Notes 1 and 2) 435.2 198.1
Other assets and deferred charges 840.9 753.7
Total assets $13,879.0 $12,418.8
Liabilities and
Stockholders'
Equity		 Current liabilities:
Notes payable (Note 14)		  

$693.0

 

$269.5

Accounts payable (Note 13) 886.3 683.3
Transportation and exchange gas payable 67.7 73.7
Accrued liabilities (Note 13) 1,157.3 975.3
Commodity trading liabilities 182 137.9
Long-term debt due within one year (Note 14) 41.1 59.6
Total current liabilities 3,027.4 2,199.3
Long-term debt (Note 14) 4,565.3 4,376.9
Deferred income taxes (Note 7) 1,718.9 1,626.6
Other liabilities 878.6 787.5
Minority interest in consolidated subsidiaries
(Note 2)		  

117.1

  

7.5
Contingent liabilities and commitments (Note 18)
Stockholders' equity (Note 15):
Preferred stock, $1 par value, 30,000,000 shares authorized, 2,497,472 shares issued in 1997 and 3,241,552 shares issued in 1996		 142.2 161
Common stock, $1 par value, 480,000,000 shares authorized, 325,065,668 shares issued in 1997 and 320,428,326 shares issued in 1996  

325.1

  

320.4
Capital in excess of par value 957.6 887.5
Retained earnings 2,209.4 2,119.5
Other (4.5) (2.2)
  3,629.8 3,486.2
Less treasury stock (at cost), 4,879,127 shares of common stock in 1997

and 5,474,674 shares of common stock in 1996

  

(58.1)

  

(65.2)
Total stockholders' equity 3,571.7 3,421.0
Total liabilities and stockholders' equity $13,879.0 $12,418.8