RE: July 2001 MTM analysis

John,

Just wanted to givce you a heads up that we still have not learned to tie our MTM accounts. We will need to follow up to make sure this gets resolved for August close. mary is familiar with this issue.

Patty

---------------------- Forwarded by Patricia A Lee/HOU/EES on 08/17/2001 03:57 PM ---------------------------

Sara Ray
08/10/2001 02:04 PM
To: Cathy Pittenger/HOU/EES@EES
cc: Kimberley Nelson/HOU/EES@EES, Patricia A Lee/HOU/EES@EES, Shanna Husser/HOU/EES@EES
Subject: RE: July 2001 MTM analysis

Cathy, can you provide some background on the issue for Tax. Thanks.

Cathy Pittenger
08/10/2001 01:52 PM
To: Sara Ray/HOU/EES@EES
cc: Kimberley Nelson/HOU/EES@EES
Subject: RE: July 2001 MTM analysis

Yes, that is the exact difference. It is due to the establishing of the credit reserve account.
Cathy

Sara Ray
08/10/2001 01:50 PM
To: Cathy Pittenger/HOU/EES@EES
cc: Kimberley Nelson/HOU/EES@EES
Subject: RE: July 2001 MTM analysis

Cathy,
Tax is not able to roll the change in PRM. Is the difference possibly related to the G&A expense that you booked in the credit reserve account?

---------------------- Forwarded by Sara Ray/HOU/EES on 08/10/2001 01:46 PM ---------------------------

Shanna Husser
08/10/2001 12:51 PM

To: Sara Ray/HOU/EES@EES, Kimberly Nelson/Enron@EnronXGate
cc: Patricia A Lee/HOU/EES, Mary Fischer/HOU/EES, Chad Gardner/HOU/EES@EES
Subject: RE: July 2001 MTM analysis

Please note that I made a mistake in my first e-mail. The $5,577,900 difference is on company 20Q- not company 20R.

Thanks-
Shanna
---------------------- Forwarded by Shanna Husser/HOU/EES on 08/10/2001 12:49 PM ---------------------------

Shanna Husser
08/10/2001 12:13 PM

To: Sara Ray/HOU/EES@EES, Kimberly Nelson/Enron@EnronXGate
cc: Patricia A Lee/HOU/EES, Mary Fischer/HOU/EES, Chad Gardner/HOU/EES@EES
Subject: RE: July 2001 MTM analysis

Attached is the MTM analysis that we have done by company and in total. (includes entites: 1572, 890, 20Q, 20R)

As you can see from the schedules, we can not match the change in the balance sheet to the income statement activity for 2 of the companies.

For company 890, the difference is ($20,000,000)- Tax knows what this difference is and understands it- so no explanation/research is needed.

For company 20R, the difference is $5,577,900- this is the difference that we in tax don't understand.

I prepared the majority of these spreadsheets, so if you can't follow our analysis- please feel free to call me. (ext. 35736)

Tax has Hyperion Close on Tuesday, Aug 14th. We will contact you that morning to see if this amount should change our current tax entries.

Thanks-
Shanna

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