8-K/AOther Events

ATMOS ENERGY CORP 8-K/A Report (Sep 13, 2001)

Filed September 13, 2001For Securities:ATO

Summary

Atmos Energy Corporation (ATO) filed an amendment to its Form 8-K, detailing the acquisition of the Louisiana Gas Service Company division ('LGS') and LGS Natural Gas Company ('LGSN') from Citizens Communications Company ('Citizens'). This significant transaction, effective July 1, 2001, involved the purchase of assets for approximately $365 million in cash. The acquisition was primarily financed through the issuance of $350 million in Senior Notes in May 2001. The acquired assets include regulated natural gas sales and distribution operations, as well as unregulated natural gas-related businesses in Louisiana. This filing includes audited and unaudited financial statements of the acquired entity and pro forma financial information reflecting the combined entity as if the acquisition had occurred at the beginning of the reporting periods.

Key Highlights

  • 1Atmos Energy acquired the Louisiana Gas Service division and LGS Natural Gas Company from Citizens Communications for approximately $365 million.
  • 2The acquisition was effective July 1, 2001.
  • 3Financing for the acquisition was primarily secured through $350 million in Senior Notes issued in May 2001.
  • 4The acquired assets encompass both regulated natural gas sales and distribution, and unregulated natural gas operations in Louisiana.
  • 5The company has filed audited financial statements for the acquired business for the years ended December 31, 2000 and 1999, and unaudited condensed financials for the six months ended June 30, 2001.
  • 6Pro forma financial statements are included to show the combined entity's financial position and results as if the acquisition occurred on June 30, 2001, and at the beginning of the income statement periods presented.

Frequently Asked Questions

This filing is an amendment to a previous Form 8-K and specifically serves to provide the necessary financial statements and pro forma information related to Atmos Energy's acquisition of the Louisiana Gas Service division and LGS Natural Gas Company from Citizens Communications.

The acquisition was financed primarily through the issuance of approximately $350 million in Senior Notes in May 2001. The total purchase price for the acquired assets was approximately $365 million, paid in cash.

Atmos Energy acquired the property, plant, and equipment, along with certain other assets and assumed liabilities of Citizens Communications' regulated natural gas sales and distribution business in Louisiana, as well as its unregulated natural gas-related operations in the same state.

The pro forma financial statements present the combined financial position and results of operations of Atmos Energy and the acquired Louisiana businesses as if the acquisition had occurred on June 30, 2001, for the balance sheet, and at the beginning of the respective periods for the statements of income. This allows investors to better understand the financial impact of the acquisition on the combined entity.