UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
Statement By Holding Company Claiming Exemption Under Rule U-3A-2 from the
Provisions of the Public Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
MIDAMERICAN ENERGY HOLDINGS COMPANY
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, state of organization, location and nature of business of claimant
and every subsidiary thereof.
A. MidAmerican Energy Holdings Company - Organized as a holding company.
Incorporated in Iowa. Headquartered in Des Moines, Iowa.
The following companies are subsidiaries of MidAmerican Energy
Holdings Company as defined by Section 2(a):
B. Utility Subsidiaries
--------------------
100% Owned
MidAmerican Energy Company - Organized as a public utility to
generate, transmit, distribute and market electric energy and to
distribute and market natural gas. Incorporated in Iowa.
Headquartered in Des Moines, Iowa.
i. 100% owned by MidAmerican Energy Company
CBEC Railway Inc. - Organized to own and operate rail facilities
for the transportation of coal. Incorporated in Iowa.
Headquartered in Des Moines, Iowa.
MidAmerican Energy Financing I - Organized as a statutory business
trust holding MidAmerican 7.98% Series A Debentures due 2045.
MidAmerican Energy Funding Inc., - Organized to purchase MidAmerican
Energy Company's accounts receivable. Incorporated in Delaware.
Headquartered in Des Moines, Iowa.
C. Nonregulated Business Subsidiaries
----------------------------------
100% Owned
i. MidAmerican Capital Company - Organized as a holding company for
nonregulated business subsidiaries. Incorporated in Delaware.
Headquartered in Des Moines, Iowa.
a. 100% Owned by MidAmerican Capital Company
A/C Security Systems, Inc. - Organized to provide security
services. Incorporated in Nebraska. Headquartered in Omaha,
Nebraska.
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<PAGE>
MidAmerican Capital Company (continued)
AmGas, Inc. - Organized to market nonregulated natural gas to end
users. Incorporated in Iowa. Headquartered in Dallas, Texas.
Cimmred Leasing Company - Organized to invest in, develop and/or
manage financial business ventures. Incorporated in South
Dakota. Headquartered in Dakota Dunes, South Dakota.
InterCoast Capital Company - Organized to invest in and manage
securities. Incorporated in South Dakota. Headquartered in
Dakota Dunes, South Dakota.
InterCoast Energy Company - Organized to market nonregulated
electric energy, and produce and market oil and gas.
Incorporated in Delaware. Headquartered in Des Moines, Iowa.
InterCoast Global Management, Inc. - Organized to manage
securities investments. Incorporated in Delaware.
Headquartered in Des Moines, Iowa.
InterCoast Power Company - Organized to manage nonregulated
electric energy investments. Incorporated in Delaware.
Headquartered in Des Moines, Iowa.
InterCoast Power Marketing Company - Organized to market
nonregulated electric energy. Incorporated in Delaware.
Headquartered in Des Moines, Iowa.
InterCoast Trade & Resources, Inc. - Organized to market
nonregulated oil and gas. Incorporated in Delaware.
Headquartered in Des Moines, Iowa.
IWG Co. 8 - Organized to invest in nonregulated hydropower
projects or companies. Incorporated in Delaware.
Headquartered in Des Moines, Iowa.
MHC Investment Company - Organized to invest in, develop and/or
manage investments and financial business ventures.
Incorporated in South Dakota. Headquartered in Dakota Dunes,
South Dakota.
MidAmerican Rail Inc. - Organized to lease railroad coal cars.
Incorporated in Iowa. Headquartered in Des Moines, Iowa.
MidAmerican Services Company - Organized to provide complementary
energy services. Incorporated in Iowa. Headquartered in Des
Moines, Iowa.
MWR Capital Inc. - Organized to invest in, develop and/or manage
financial business ventures. Incorporated in South Dakota.
Headquartered in Dakota Dunes, South Dakota.
TTP, Inc. of South Dakota - Organized to invest in, develop and
manage a cogeneration partnership. Incorporated in South
Dakota. Headquartered in Dakota Dunes, South Dakota.
b. Less than 100% but Greater than 10% Owned by MidAmerican Capital
Company
Diversified Electronics Ltd. - Organized to provide home security
services. Incorporated in Iowa. Headquartered in Des Moines,
Iowa.
Edge Technologies, Inc. - A joint venture organized in Iowa to
generate capital for the development and commercialization of
inventions. Incorporated in Iowa. Headquartered in Ames, Iowa.
Founders Trust Company - Organized to provide investment advice and
trust services. Incorporated in Texas. Headquartered in Dallas,
Texas.
McLeodUSA, Inc. - Organized to provide fiber optic telecommunications
services. Incorporated in Iowa. Headquartered in Cedar Rapids,
Iowa.
Mycotech Corporation - Organized to produce fungal products for
biopesticide and bioremediation applications. Incorporated in
Delaware. Headquartered in Butte, Montana.
Synergics, Inc. - Organized to develop and operate nonregulated
hydropower projects. Incorporated in Maryland. Headquartered in
Annapolis, Maryland.
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<PAGE>
b. Less than 100% but Greater than 10% Owned by MidAmerican Capital
Company (continued)
Tenaska III Texas Partners - Organized in Texas to construct, own
and operate a cogeneration plant located near Paris, Texas.
Partnership formed in Texas. Headquartered in Omaha,
Nebraska.
Utech Venture Capital Corporation - Organized to invest in
venture capital. Incorporated in Delaware. Headquartered
in Wilmington, Delaware.
ii. Midwest Capital Group, Inc. - Organized as a holding company for
nonregulated business development subsidiaries. Incorporated in Iowa.
Headquartered in Des Moines, Iowa.
a. 100% Owned by Midwest Capital Group, Inc.
Dakota Dunes Development Company - Organized to invest in,
develop and/or manage real estate business ventures.
Incorporated in Iowa. Headquartered in Dakota Dunes, South
Dakota.
b. Less than 100% but Greater than 10% Owned by Midwest Capital
Group, Inc.
Capital Center II Limited Partnership - Organized to construct,
own, and operate office buildings in Des Moines, Iowa.
Partnership formed in Iowa. Headquartered in Des Moines,
Iowa.
Capital Center III Limited Partnership - Organized to construct,
own and operate an office building in Des Moines, Iowa.
Partnership formed in Iowa. Headquartered in Des Moines,
Iowa.
Northgate Park Associates - Organized to develop and own an
office park. Partnership formed in Iowa. Headquartered in
Iowa City, Iowa.
D. Inactive Subsidiaries
---------------------
100% Owned
Midwest Gas Company - Incorporated in Iowa.
DCCO Inc. - Incorporated in Minnesota.
InterCoast Sierra Power Company - Incorporated in Delaware.
MidAmerican Energy Financing II - Organized as a statutory business
trust.
CHRS, Inc. - Incorporated in Iowa.
Bettendorf Lock & Security Services, Inc. - Incorporated in Iowa.
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<PAGE>
2. A brief description of the properties of the claimant and each of its
subsidiary public utility companies.
A. MidAmerican Energy Holdings Company is a holding company which owns
electric and gas utility operations and various nonregulated
businesses. MidAmerican Energy Holdings Company owns no physical
utility property.
B. MidAmerican Energy Company ("MidAmerican" or "Company") is a regulated
public utility company, incorporated in the State of Iowa. On July 1,
1995, Iowa-Illinois Gas and Electric Company, Midwest Resources Inc.
and its utility subsidiary, Midwest Power Systems Inc., merged with
and into MidAmerican.
The Company's utility operations consist of four distinct business
units: generation, transmission, energy delivery and retail. The
Company is primarily engaged in the business of generating,
transmitting, distributing and selling electric energy and
distributing, selling and transporting natural gas. The company owns
intrastate natural gas transmission lines that do not constitute a
material portion of the overall distribution system; as such these
lines are classified as distribution lines for accounting purposes.
The Company's utility service territory spans the State of Iowa,
serving most of its larger cities as well as areas of Illinois, South
Dakota, and a small area of Nebraska. MidAmerican provides electric
service to 648,000 customers in Iowa, Illinois, and South Dakota and
natural gas service to 619,000 customers in Iowa, Illinois, South
Dakota, and Nebraska.
i. ELECTRIC OPERATIONS:
MidAmerican's transmission lines, operating from 34,500 to 345,000
volts, totalled 4,226 circuit miles at December 31, 1997 (3,930
miles are located in Iowa). MidAmerican owned 277 distribution
substations (243 are located in Iowa) and 54 transmission
substations (49 in Iowa) at December 31, 1997.
MidAmerican owns or connects with electric transmission lines
which deliver electric energy at or near the Iowa state border at
the following interconnecting points:
1. 161 kv interconnection near Creston, Iowa with Western Area
Power Administration;
2. 161 kv interconnection near Clarinda, Iowa with St. Joseph
Light and Power Company;
3. 345 and 161 kv interconnections at Council Bluffs, Iowa with
Omaha Public Power District;
4. 345 and 161 kv interconnections at Sioux City, Iowa with
Omaha Public Power District;
5. 69 kv interconnection at Hamburg, Iowa with Associated
Electric Cooperative, Inc.;
6. 345 kv interconnections near Hills, Iowa and near Haskins,
Iowa with Union Electric Company;
7. 345 kv interconnection at Sioux City, Iowa with Nebraska
Public Power District;
8. 345 kv interconnection at Cooper Nuclear Station with
Nebraska Public Power District;
9. 345 kv interconnection near Lakefield Junction, Minnesota,
with Interstate Power Company;
10. 345 and 161 kv interconnections near Sioux City, Iowa with
Western Area Power Administration;
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<PAGE>
11. 345 kv interconnection at Quad-Cities Station near Cordova,
Illinois, with Commonwealth Edison Company and Interstate
Power Company;
12. 161 kv interconnection near Galesburg, Illinois, with
Illinois Power Company; and
13. 161 kv interconnection near Camanche, Iowa, with Interstate
Power Company.
MidAmerican owns or connects with the following transmission
lines at or near the Iowa state border in order to serve its
electric customers:
1. two 69 kv transmission lines near McCook Lake, South Dakota;
2. one 69 kv transmission line near Alcester, South Dakota;
3. one 161 kv transmission line near Rock Island, Illinois;
4. one 161 kv transmission line in East Moline, Illinois;
5. one 69 kv transmission line in or near Port Bryan and
Cordova, Illinois;
6. two 69 kv transmission lines in East Moline, Illinois;
7. two 69 kv transmission lines in Moline, Illinois; and
8. one 69 kv transmission line in Rock Island, Illinois.
Electric generating facilities at December 31, 1997 consisted of
the following. The net accredited generating capacity, along with
the participation purchases and sales, net, and firm purchases
and sales, net, are shown for the summer 1997 accreditation.
Accredited
Percent Generating
Plant Ownership Fuel Capability (MW)
- --------------------------------------- --------- ---- --------------
Steam Electric Generating Plants:
Iowa
George Neal Station
Unit No. 1 100.0 Coal 135
Unit No. 2 100.0 Coal 300
Unit No. 3 (jointly owned) 72.0 Coal 371
Unit No. 4 (jointly owned) 41.0 Coal 253
Ottumwa Unit (jointly owned) 52.0 Coal 372
Louisa Unit (jointly owned) 88.0 Coal 616
Council Bluffs Energy Center
Unit No. 1 100.0 Coal 43
Unit No. 2 100.0 Coal 88
Unit No. 3 (jointly owned) 79.0 Coal 534
Riverside Station
Unit No. 3 100.0 Coal 5
Unit No. 5 100.0 Coal 130
-----
Total Steam Electric Generating Units 2,847
------
-5-
<PAGE>
Accredited
Percent Generating
Plant Ownership Fuel Capability (MW)
- -------------------------------- --------- ----------- --------------
Combustion Turbines:
Iowa
Parr-2 units 100.0 Gas or Oil 31
Electrifarm-3 units 100.0 Gas or Oil 186
River Hills Energy Center-8 units 100.0 Gas or Oil 116
Sycamore Energy Center-2 units 100.0 Gas or Oil 149
Pleasant Hill-3 units 100.0 Oil 148
Coralville-1 unit 100.0 Gas or Oil 64
Illinois
Moline-4 units 100.0 Gas or Oil 64
----
Total Combustion Turbine 758
----
Nuclear:
Illinois
Quad-Cities Station
Unit No. 1 (jointly owned) 25.0 Nuclear 192
Unit No. 2 (jointly owned) 25.0 Nuclear 191
Nebraska
Cooper Station (Note 1) 50.0 Nuclear 387
----
Total Nuclear 770
----
Hydro:
Illinois
Moline - 4 units 100.0 Water 3
----
Total Hydro 3
----
Net Accredited Generating Capability 4,378
Participation Purchases and Sales, Net (85)
-----
Total Net Accredited Generating Capability 4,293
-----
Firm Purchases and Sales, Net (47)
=====
Adjusted Net Accredited Generating Capability 4,246
=====
(1) Cooper Nuclear Station is owned by Nebraska Public Power District and the
amount shown is MidAmerican's entitlement (50 percent) of Cooper's
accredited capability under a power purchase agreement extending to the
year 2004.
-6-
<PAGE>
ii. GAS OPERATIONS
MidAmerican serves customers in Iowa, Illinois, South Dakota, and
Nebraska. MidAmerican is responsible for the procurement,
transportation, storage and distribution of natural gas. Natural gas
is procured from various suppliers and transported on a firm or
interruptible basis by Northern Natural Gas Co., Natural Gas Pipeline
Co. of America and ANR Pipeline Co. to the Company's service
territory. The gas is stored in various storage facilities to manage
fluctuation in system demand and seasonal pricing. MidAmerican's
highest peak-day delivery was 1,143,026 MMBtus.
Natural gas is distributed through 19,161 miles of distribution mains
and services of which 14,984 miles are located in Iowa, 2,015 miles in
Illinois, 2,016 miles in South Dakota and 146 miles in Nebraska.
Other natural gas property owned includes: three liquefied natural gas
plants located in Bettendorf, Iowa, Waterloo, Iowa, and Des Moines,
Iowa with 109,600 MMBtu maximum daily delivery capacity and three
propane-air gas peak shaving plants located in Sioux City, Iowa,
Waterloo, Iowa, and Des Moines, Iowa, with a total maximum daily
delivery capacity of 75,440 MMBtu.
3. The following information, along with additional data, provides the
electric and natural gas data for MidAmerican for the year ended December
31, 1997.
a. (1) Number of kWh of electric energy sold (at retail or wholesale):
Retail 15,665,943,000
Sales for Resale 6,987,268,000
(2) Number of MMBtu of natural gas distributed (at retail)
93,825,000
b. (1) Number of kWh of electric energy distributed at retail outside of
the state of incorporation:
South Dakota 107,586,000
Illinois 1,681,252,000
(2) Number of MMBtu of natural gas distributed at retail outside of
the state of incorporation:
Illinois 9,788,000
South Dakota 9,159,000
Nebraska 664,000
c. (1) Number of kWh of electric energy sold at wholesale outside of the
state of incorporation, or at the state line: None
The number of kWh of electric energy sold at wholesale outside of the
state of incorporation, or at the state line, excludes the following
sales for resale transactions originating within the State of Iowa to
purchasers outside the state: 5,411,709,000.
(2) Number of MMBtu of natural gas sold at wholesale outside of the
state of incorporation, or at the state line: None
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<PAGE>
d. (1) Number of kWh of electric energy purchased outside of the state of
incorporation, or at the state line:
Nebraska 3,628,276,000
South Dakota 1,102,329,000
Illinois 210,895,199
Canada 164,077,000
Missouri 117,302,000
Minnesota 99,930,000
North Dakota 45,463,000
Texas 37,461,000
Alabama 21,912,000
Wisconsin 19,095,000
Other States 24,003,000
(2) Number of MMBtu of natural gas purchased outside of the state
of incorporation, or at the state line:
Texas 18,060,000
Kansas 17,484,000
Minnesota 14,678,000
Louisiana 5,118,000
New Mexico 1,746,000
Illinois 545,000
Oklahoma 20,000
e. Additional Data:
(1) Electric operating revenues (000):
Iowa 87.6% $ 986,562
Outside of Iowa 12.4% $ 139,738
Total 100.0% $1,126,300
(2) Natural gas operating revenues (000):
Iowa 79.0% $ 423,708
Outside of Iowa 21.0% $ 112,598
Total 100.0% $ 536,306
(3) Total average electric customers:
Iowa 86.5% 557,205
Outside of Iowa 13.5% 87,064
Total 100.0% 644,269
(4) Total average natural gas customers:
Iowa 78.6% 481,400
Outside of Iowa 21.4% 130,902
Total 100.0% 612,302
-8-
<PAGE>
(5) Net utility plant- electric (000):
Iowa 88.3% $1,903,719
Outside of Iowa 11.7% $253,226
Total 100.0% $2,156,945
(6) Net utility plant- gas (000):
Iowa 79.8% $371,907
Outside of Iowa 20.2% $94,253
Total 100.0% $466,160
4. The following information for the reporting period with respect to claimant
and each interest it holds directly or indirectly in an EWG or a foreign
utility company.
a. Name, Location, business address and description of the facilities
used by the EWG or foreign utility company for generation,
transmission and distribution of electric energy for sale or for the
distribution at retail of natural or manufactured gas: None
b. Name of each system company that holds an interest in such EWG or
foreign utility company: None
c. Type and amount of capital invested, directly or indirectly, or any
direct or indirect guarantee of the security of the EWG or foreign
utility company by the holding company claiming exemption; and any
debt or other financial obligation for which there is recourse,
directly or indirectly, to the holding company claiming exemption or
another system company, other than the EWG or foreign utility company:
None
d. Capitalization and earnings of the EWG or foreign utility company
during the reporting period: None
e. Identify any service, sales or construction contracts between the EWG
or foreign utility company and a system company: None
-9-
<PAGE>
Exhibit A
Exhibit A, pages 1 through 21 (see attached), shows consolidating
statements of income and retained earnings of the claimant and its subsidiary
companies for the year ended December 31, 1997, together with consolidating
balance sheets of the claimant and its subsidiary companies as of December 31,
1997.
Exhibit B
A consolidated financial data schedule will accompany the filed version of
this draft form when filed with the Commission via EDGAR.
Exhibit C
Not Applicable.
The above named claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 27th day of February, 1998.
MidAmerican Energy Holdings Company
By /s/ A. L. Wells
-----------------------------------------
A. L. Wells, Sr. Vice President and
Chief Financial Officer
Attest:
/s/ P. J. Leighton
- ------------------------------------------
P. J. Leighton, Vice President and
Corporate Secretary
All notices and correspondence concerning this statement should be addressed to:
P. J. Leighton
Vice President and Corporate Secretary
MidAmerican Energy Holdings Company
P.O. Box 657
Des Moines, IA 50303-0657
-10-
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
This schedule contains summary financial information extracted from the
consolidating balance sheet of MidAmerican Energy Holdings Company as of
December 31, 1997, and the related consolidating statements of inocme for
the twelve months ended December 31, 1997 and is qualified in its entirety
by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 4,278,091
<TOTAL-OPERATING-REVENUES> 1,922,281
<NET-INCOME> 135,104
</TABLE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF INCOME Page 1 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
Consolidated Consolidated Consolidated Consolidated
MidAmerican MidAmerican MidAmerican Midwest MidAmerican
Energy Energy Energy Capital Capital
Holdings Holdings Company Group Inc. Company
Company Eliminations Company (page 2) (page 3) (pages 4-7)
----------- ------------ ----------- ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues ....................... $ 1,922,281 $ - $ - $ 1,662,606 $ 2,769 $ 256,906
Operating Expenses ....................... 1,651,775 - - 1,381,517 5,770 264,488
----------- ----------- ---------- ----------- ----------- -----------
Operating Income (Loss) .................. 270,506 - - 281,089 (3,001) (7,582)
Other Income (Expense) ................... 49,019 (392) - 14,699 1,384 33,328
Income (Loss) From Subsidiaries .......... - (135,496) 135,496 - - -
Fixed Charges ............................ 111,803 - - 100,018 - 11,785
----------- ----------- ---------- ----------- ----------- -----------
Income (Loss) Before Taxes ............... 207,722 (135,888) 135,496 195,770 (1,617) 13,961
Income Tax Expense (Benefit) ............. 68,390 - - 76,317 (613) (7,314)
----------- ----------- ---------- ----------- ----------- -----------
Income (Loss) From Continuing Operations . 139,332 (135,888) 135,496 119,453 (1,004) 21,275
Income(Loss) From Discontinued
Operations ............................. (4,228) - - - - (4,228)
----------- ----------- ---------- ----------- ----------- -----------
Net Income (Loss)......................... $ 135,104 $ (135,888) $ 135,496 $ 119,453 $ (1,004) $ 17,047
=========== =========== ========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF INCOME Page 2 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
Consolidated
MidAmerican MidAmerican MidAmerican
Energy Energy CBEC Energy
Company Eliminations Company Railway Financing I
---------- ------------ ----------- ---------- -----------
<S> <C> <C> <C> <C> <C>
Operating Revenues ................. $1,662,606 $ - $1,662,606 $ - $ -
Operating Expenses ................. 1,381,517 - 1,381,517 - -
---------- ---------- ---------- ---------- ----------
Operating Income (Loss) ............ 281,089 - 281,089 - -
Other Income (Expense) ............. 14,699 (8,227) 14,568 131 8,227
Income (Loss) From Subsidiaries .... - (323) 323 - -
Fixed Charges ...................... 100,018 (8,227) 100,265 - 7,980
---------- ---------- ---------- ---------- ----------
Income (Loss) Before Taxes ......... 195,770 (323) 195,715 131 247
Income Tax Expense (Benefit) ....... 76,317 - 76,262 55 -
---------- ---------- ---------- ---------- ----------
Income (Loss) From Continuing
Operations ....................... 119,453 (323) 119,453 76 247
Income (Loss) From Discontinued
Operations ....................... - - - - -
---------- ---------- ---------- ---------- ----------
Net Income (Loss) .................. $ 119,453 $ (323) $ 119,453 $ 76 $ 247
========== ========== ========== ========== ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF INCOME Page 3 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
Consolidated Midwest Dakota
Midwest Capital Dunes
Capital Group Development
Group Inc. Eliminations Inc. (a) Company
---------- ------------ ----------- -----------
<S> <C> <C> <C> <C>
Operating Revenues .............................. $ 2,769 $ - $ 327 $ 2,442
Operating Expenses .............................. 5,770 - 1,106 4,664
------- ------- ------- -------
Operating Income (Loss) ......................... (3,001) - (779) (2,222)
Other Income (Expense) .......................... 1,384 (1,662) 2,484 562
Income (Loss) From Subsidiaries ................. - 1,713 (1,713) -
Fixed Charges ................................... - (1,662) - 1,662
------- ------- ------- -------
Income (Loss) Before Taxes ...................... (1,617) 1,713 (8) (3,322)
Income Tax Expense (Benefit) .................... (613) - 996 (1,609)
------- ------- ------- -------
Income (Loss) From Continuing Operations ........ (1,004) 1,713 (1,004) (1,713)
Income (Loss) From Discontinued Operations ...... - - - -
------- ------- ------- -------
Net Income (Loss)................................ $(1,004) $ 1,713 $(1,004) $(1,713)
======= ======= ======= =======
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc. of South Dakota.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF INCOME Page 4 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
Consolidated
MidAmerican MidAmerican InterCoast InterCoast
Capital Capital Capital Power IWG
Company Eliminations Company (a) Company Company Co. 8 (a)
------------ ------------ ----------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues ................. $ 256,906 $ (38,373) $ - $ - $ - $ -
Operating Expenses ................. 264,488 (38,373) 5,666 758 17 12
--------- --------- --------- --------- --------- ---------
Operating Income (Loss) ............ (7,582) - (5,666) (758) (17) (12)
Other Income (Expense) ............. 33,328 - 4,127 14,784 18 (3,438)
Income (Loss) From Subsidiaries .... - (26,981) 26,981 - - -
Fixed Charges ...................... 11,785 - 11,778 - - -
--------- --------- --------- --------- --------- ---------
Income (Loss) Before Taxes ......... 13,961 (26,981) 13,664 14,026 1 (3,450)
Income Tax Expense (Benefit) ....... (7,314) - (3,383) 1,592 (399) (1,401)
--------- --------- --------- --------- --------- ---------
Income (Loss) From Continuing
Operations ....................... 21,275 (26,981) 17,047 12,434 400 (2,049)
Income (Loss) From Discontinued
Operations ....................... (4,228) - - - - -
--------- --------- --------- --------- --------- ---------
Net Income (Loss) .................. $ 17,047 $ (26,981) $ 17,047 $ 12,434 $ 400 $ (2,049)
========= ========= ========= ========= ========= =========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc. of South Dakota.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF INCOME Page 5 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousand
InterCoast InterCoast InterCoast InterCoast Diversified
Sierra Power Global Trade & Electronics,
Power Marketing Management Resources Ltd.
---------- ---------- ---------- ---------- ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues ................ $ - $ 1,654 $ - $ 148,050 $ 9,903
Operating Expenses ................ - 1,995 55 148,660 9,714
---------- ---------- ---------- ---------- ----------
Operating Income (Loss) ........... - (341) (55) (610) 189
Other Income (Expense) ............ - - 7 - -
Income (Loss) From Subsidiaries ... - - - - -
Fixed Charges ..................... - - - - -
---------- ---------- ---------- ---------- ----------
Income (Loss) Before Taxes ........ - (341) (48) (610) 189
Income Tax Expense (Benefit) ...... 25 (145) (1,749) (268) 90
---------- ---------- ---------- ---------- ----------
Income (Loss) From Continuing
Operations....................... (25) (196) 1,701 (342) 99
Income (Loss) From Discontinued
Operations ...................... - - - - -
---------- ---------- ---------- ---------- ----------
Net Income (Loss).................. $ (25) $ (196) $ 1,701 $ (342) $ 99
========== ========== ========== ========== ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF INCOME Page 6 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
A/C
MHC Security Cimmred MWR
Investment Systems Amgas, Leasing DCCO Capital
Co. (a) Inc. Inc. Company Inc. Inc.
----------- -------- --------- ---------- --------- ----------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues ................. $ - $ 122 $ 94,713 $ - $ - $ -
Operating Expenses ................. 55 93 96,174 431 - 2
--------- --------- --------- --------- --------- ---------
Operating Income (Loss) ............ (55) 29 (1,461) (431) - (2)
Other Income (Expense) ............. 7,369 - - (1,263) - 95
Income (Loss) From Subsidiaries .... - - - - - -
Fixed Charges ...................... - - - - - -
--------- --------- --------- --------- --------- ---------
Income (Loss) Before Taxes ......... 7,314 29 (1,461) (1,694) - 93
Income Tax Expense (Benefit) ....... (251) 12 (657) (5,755) 1,095 32
--------- --------- --------- --------- --------- ---------
Income (Loss) From Continuing
Operations ....................... 7,565 17 (804) 4,061 (1,095) 61
Income (Loss) From Discontinued
Operations ....................... - - - - - -
--------- --------- --------- --------- --------- ---------
Net Income (Loss)................... $ 7,565 $ 17 $ (804) $ 4,061 $ (1,095) $ 61
========= ========= ========= ========= ========= =========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc. of South Dakota.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF INCOME Page 7 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
TTP, Inc. InterCoast
of South MidAmerican CHRS, Energy
Dakota (a) Rail Co. Inc. Company
---------- ----------- ---------- ----------
<S> <C> <C> <C> <C>
Operating Revenues ................. $ - $ 5,514 $ 7,565 $ 27,758
Operating Expenses ................. 107 3,708 7,427 27,987
-------- -------- -------- --------
Operating Income (Loss) ............ (107) 1,806 138 (229)
Other Income (Expense) ............. 1,629 7,682 2,306 12
Income (Loss) From Subsidiaries .... - - - -
Fixed Charges ...................... - - 7 -
-------- -------- -------- --------
Income (Loss) Before Taxes ......... 1,522 9,488 2,437 (217)
Income Tax Expense (Benefit) ....... 600 3,852 937 (1,541)
-------- -------- -------- --------
Income (Loss) From Continuing
Operations ....................... 922 5,636 1,500 1,324
Income (Loss) From Discontinued
Operations ....................... - - - (4,228)
-------- -------- -------- --------
Net Income (Loss) .................. $ 922 $ 5,636 $ 1,500 $ (2,904)
======== ======== ======== ========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc. of South Dakota.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS Page 8 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
Consolidated Consolidated Consolidated Consolidated
MidAmerican MidAmerican MidAmerican Midwest MidAmerican
Energy Energy Energy Capital Capital
Holdings Holdings Company Group Inc. Company
Company Eliminations Company (page 9) (page 10) (pages 11-14)
----------- ------------ ----------- ------------ ----------- -------------
<S> <C> <C> <C> <C> <C> <C>
Retained Earnings, Beginning of Year .. $ 440,971 $(440,764) $ 440,966 $ 423,246 $ (28,028) $ 45,551
Net Income ............................ 135,104 (135,888) 135,496 119,453 (1,004) 17,047
Cash Dividends Declared ............... 117,605 (147,015) 117,997 120,500 - 26,123
Loss on Repurchase of Common Shares ... 49,174 - 49,174 - - -
Other Deducts ......................... - 3,178 (5) (2,982) - (191)
--------- --------- --------- --------- --------- ---------
Retained Earnings, End of Year ........ $ 409,296 $(432,815) $ 409,296 $ 425,181 $ (29,032) $ 36,666
========= ========= ========= ========= ========= =========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS Page 9 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
Consolidated
MidAmerican MidAmerican MidAmerican
Energy Energy CBEC Energy
Company Eliminations Company Railway Financing I
----------- ------------ ----------- ---------- -----------
<S> <C> <C> <C> <C> <C>
Retained Earnings, Beginning of Year ... $ 423,246 $ - $ 423,246 $ - $ -
Net Income ............................. 119,453 (323) 119,453 76 247
Cash Dividends Declared ................ 120,500 (247) 120,500 - 247
Loss on Repurchase of Common Shares .... - - - - -
Other Deducts .......................... (2,982) - (2,982) - -
--------- --------- --------- --------- ---------
Retained Earnings, End of Year ......... $ 425,181 $ (76) $ 425,181 $ 76 $ -
========= ========= ========= ========= =========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS Page 10 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
Consolidated Midwest
Midwest Capital Dakota Dunes
Capital Group Development
Group Inc. Eliminations Inc. (a) Company
------------ ------------ ---------- -----------
<S> <C> <C> <C> <C>
Retained Earnings, Beginning of Year ... $ (28,028) $ 7,430 $ (28,015) $ (7,443)
Net Income ............................. (1,004) 1,713 (1,004) (1,713)
Cash Dividends Declared ................ - - - -
Loss on Repurchase of Common Shares .... - - - -
Other Deducts .......................... - - - -
--------- --------- --------- ---------
Retained Earnings, End of Year ......... $ (29,032) $ 9,143 $ (29,019) $ (9,156)
========= ========= ========= =========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc. of South Dakota.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS Page 11 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
Consolidated
MidAmerican MidAmerican InterCoast InterCoast
Capital Capital Capital Power IWG
Company Eliminations Company (a) Company Company Co. 8 (a)
------------ ------------ ----------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Retained Earnings, Beginning of Year ... $ 45,551 $(119,801) $ 45,551 $ 115,578 $ (5,833) $ (7,454)
Net Income ............................. 17,047 (26,981) 17,047 12,434 400 (2,049)
Cash Dividends Declared ................ 26,123 - 26,123 - - -
Loss on Repurchase of Common Shares .... - - - - - -
Other Deducts .......................... (191) (2,437) (191) - - -
--------- --------- --------- --------- --------- ---------
Retained Earnings, End of Year ......... $ 36,666 $(144,345) $ 36,666 $ 128,012 $ (5,433) $ (9,503)
========= ========= ========= ========= ========= =========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc. of South Dakota.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS Page 12 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
InterCoast InterCoast InterCoast InterCoast Diversified
Sierra Power Global Trade & Electronics,
Power Marketing Management Resources Ltd.
----------- ---------- ---------- ---------- ------------
<S> <C> <C> <C> <C> <C>
Retained Earnings, Beginning of Year ... $ (25) $ (1,146) $ 1,229 $ (1,061) $ 1,094
Net Income ............................. (25) (196) 1,701 (342) 99
Cash Dividends Declared ................ - - - - -
Loss on Repurchase of Common Shares .... - - - - -
Other Deducts .......................... - - - - -
-------- -------- -------- -------- --------
Retained Earnings, End of Year ......... $ (50) $ (1,342) $ 2,930 $ (1,403) $ 1,193
======== ======== ======== ======== ========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS Page 13 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
A/C
MHC Security Cimmred MWR
Investment Systems Leasing DCCO Capital
Co. (a) Inc. Amgas, Inc. Company Inc. Inc.
---------- --------- ----------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
Retained Earnings, Beginning of Year ... $ (19,337) $ - $ (5,370) $ 14,992 $ 3,824 $ 5,546
Net Income ............................. 7,565 17 (804) 4,061 (1,095) 61
Cash Dividends Declared ................ - - - - - -
Loss on Repurchase of Common Shares .... - - - - - -
Other Deducts .......................... - (192) - - 2,629 -
--------- --------- --------- --------- --------- ---------
Retained Earnings, End of Year ......... $ (11,772) $ 209 $ (6,174) $ 19,053 $ 100 $ 5,607
========= ========= ========= ========= ========= =========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc. of South Dakota.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS Page 14 of 21
FORM U-3A-2
FOR THE YEAR ENDED DECEMBER 31, 1997
(in thousands)
TTP, Inc. InterCoast
of South MidAmerican CHRS, Energy
Dakota (a) Rail Co. Inc. Company
---------- ----------- ---------- ----------
<S> <C> <C> <C> <C>
Retained Earnings, Beginning of Year ... $ 1,031 $ 5,262 $ 1,219 $ 10,252
Net Income ............................. 922 5,636 1,500 (2,904)
Cash Dividends Declared ................ - - - -
Loss on Repurchase of Common Shares .... - - - -
Other Deducts .......................... - - - -
--------- --------- --------- ---------
Retained Earnings, End of Year ......... $ 1,953 $ 10,898 $ 2,719 $ 7,348
========= ========= ========= =========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc. of South Dakota.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING BALANCE SHEETS Page 15 of 21
FORM U-3A-2
AS OF DECEMBER 31, 1997
(in thousands)
Consolidated Consolidated Consolidated Consolidated
MidAmerican MidAmerican MidAmerican Midwest MidAmerican
Energy Energy Energy Capital Capital
Holdings Holdings Company Group Inc. Company
Company Eliminations Company (page 16) (page 17) (pages 18-21)
----------- ------------ ----------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
Gross Utility Plant ....................... $ 4,897,212 $ (3,004) $ - $ 4,900,216 $ - $ -
Less: Accumulated Utility Depreciation .... 2,275,099 (2,011) - 2,277,110 - -
----------- ----------- ----------- ----------- ----------- -----------
Net Utility Plant .................... 2,622,113 (993) - 2,623,106 - -
----------- ----------- ----------- ----------- ----------- -----------
Investment in Subsidiaries ................ - (1,372,802) 1,372,802 - - -
Other Property and Investments ............ 799,524 (14,633) 34,007 115,029 48,532 616,589
Power Purchase Contract ................... 173,107 - - 173,107 - -
Investment in Discontinued Operations ..... - - - - - -
Current Assets ............................ 322,482 (42,791) 12,098 283,943 16,479 52,753
Other Assets .............................. 360,865 - 12,801 347,122 158 784
----------- ----------- ----------- ----------- ----------- -----------
Total Assets ......................... $ 4,278,091 $(1,431,219) $ 1,431,708 $ 3,542,307 $ 65,169 $ 670,126
=========== =========== =========== =========== =========== ===========
Common Shareholders' Equity ............... $ 1,301,286 $(1,381,518) $ 1,310,002 $ 985,744 $ 52,429 $ 334,629
Preferred Shares, not subject to
mandatory redemption .................... 31,763 - - 31,763 - -
Preferred Shares, subject to
mandatory redemption(b) ................. 150,000 - - 150,000 - -
Long-Term Debt
(excluding current portion) ............. 1,034,211 (6,008) - 920,203 5,016 115,000
----------- ----------- ----------- ----------- ----------- -----------
Total Capitalization ................. 2,517,260 (1,387,526) 1,310,002 2,087,710 57,445 449,629
----------- ----------- ----------- ----------- ----------- -----------
Power Purchase Contract ................... 83,143 - - 83,143 - -
Current Liabilities ....................... 596,578 (42,791) 59,590 524,374 902 54,503
Other Liabilities ......................... 1,081,110 (902) 62,116 847,080 6,822 165,994
----------- ----------- ----------- ----------- ----------- -----------
Total Liabilities and Capitalization . $ 4,278,091 $(1,431,219) $ 1,431,708 $ 3,542,307 $ 65,169 $ 670,126
=========== =========== =========== =========== =========== ===========
</TABLE>
(b) Includes MidAmerican-obligated mandatorily redeemable preferred securities
of subsidiary trust holding solely MidAmerican junior subordinated
debentures.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING BALANCE SHEETS Page 16 of 21
FORM U-3A-2
AS OF DECEMBER 31, 1997
(in thousands)
Consolidated
MidAmerican MidAmerican MidAmerican
Energy Energy CBEC Energy
Company Eliminations Company Railway Financing I
---------- ------------ ---------- ---------- -----------
<S> <C> <C> <C> <C> <C>
Gross Utility Plant ......................... $4,900,216 $ - $4,900,216 $ - $ -
Less: Accumulated Utility Depreciation ...... 2,277,110 - 2,277,110 - -
---------- ---------- ---------- ---------- ----------
Net Utility Plant ...................... 2,623,106 - 2,623,106 - -
---------- ---------- ---------- ---------- ----------
Investment in Subsidiaries .................. - (5,396) 5,396 - -
Other Property and Investments .............. 115,029 (103,090) 103,403 11,626 103,090
Power Purchase Contract ..................... 173,107 - 173,107 - -
Investment in Discontinued Operations ....... - - - - -
Current Assets .............................. 283,943 (9,452) 292,857 538 -
Other Assets ................................ 347,122 - 347,122 - -
---------- ---------- ---------- ---------- ----------
Total Assets ........................... $3,542,307 $ (117,938) $3,544,991 $ 12,164 $ 103,090
========== ========== ========== ========== ==========
Common Shareholder's Equity ................. $ 985,744 $ (5,396) $ 985,744 $ 2,306 $ 3,090
Preferred Shares, not subject to
mandatory redemption ...................... 31,763 - 31,763 - -
Preferred Shares, subject to
mandatory redemption (b) .................. 150,000 - 50,000 - 100,000
Long-Term Debt (excluding current portion) .. 920,203 (103,090) 1,023,293 - -
---------- ---------- ---------- ---------- ----------
Total Capitalization ................... 2,087,710 (108,486) 2,090,800 2,306 103,090
---------- ---------- ---------- ---------- ----------
Power Purchase Contract ..................... 83,143 - 83,143 - -
Current Liabilities ......................... 524,374 (9,452) 524,230 9,596 -
Other Liabilities ........................... 847,080 - 846,818 262 -
---------- ---------- ---------- ---------- ----------
Total Liabilities and Capitalization ... $3,542,307 $ (117,938) $3,544,991 $ 12,164 $ 103,090
========== ========== ========== ========== ==========
</TABLE>
(b) Includes MidAmerican-obligated mandatorily redeemable preferred securities
of subsidiary trust holding solely MidAmerican junior subordinated
debentures.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING BALANCE SHEETS Page 17 of 21
FORM U-3A-2
AS OF DECEMBER 31, 1997
(in thousands)
Consolidated Midwest Dakota
Midwest Capital Dunes
Capital Group Development
Group Inc. Eliminations Inc.(a) Company
---------- ------------ ---------- -----------
<S> <C> <C> <C> <C>
Gross Utility Plant ......................... $ - $ - $ - $ -
Less: Accumulated Utility Depreciation ...... - - - -
Net Utility Plant ...................... - - - -
Investment in Subsidiaries .................. - (12,378) 12,378 -
Other Property and Investments .............. 48,532 (21) 5,843 42,710
Power Purchase Contract ..................... - - - -
Investment in Discontinued Operations ....... - - - -
Current Assets .............................. 16,479 (25,977) 42,115 341
Other Assets ................................ 158 - 3 155
-------- -------- -------- --------
Total Assets ........................... $ 65,169 $(38,376) $ 60,339 $ 43,206
======== ======== ======== ========
Common Shareholder's Equity ................. 52,429 $(12,391) $ 52,442 $ 12,378
Preferred Shares, not subject to
mandatory redemption ...................... - - - -
Preferred Shares, subject to
mandatory redemption ...................... - - - -
Long-Term Debt (excluding current portion) .. 5,016 - 5,016 -
-------- -------- -------- --------
Total Capitalization ................... 57,445 (12,391) 57,458 12,378
-------- -------- -------- --------
Power Purchase Contract ..................... - - - -
Current Liabilities ......................... 902 (25,985) 521 26,366
Other Liabilities ........................... 6,822 - 2,360 4,462
-------- -------- -------- --------
Total Liabilities and Capitalization ... $ 65,169 $(38,376) $ 60,339 $ 43,206
======== ======== ======== ========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING BALANCE SHEETS Page 18 of 21
FORM U-3A-2
AS OF DECEMBER 31, 1997
(in thousands)
Consolidated
MidAmerican MidAmerican InterCoast
Capital Capital InterCoast Power
Company Eliminations Company (a) Capital Co. Company IWG Co. 8 (a)
---------- ------------ ----------- ----------- ---------- -------------
<S> <C> <C> <C> <C> <C> <C>
Gross Utility Plant ...................... $ - $ - $ - $ - $ - $ -
Less: Accumulated Utility Depreciation ... - - - - - -
Net Utility Plant ................... - - - - - -
Investment in Subsidiaries ............... - (385,897) 385,897 - - -
Other Property and Investments ........... 616,589 - 19,103 204,272 9,545 2,515
Power Purchase Contract .................. - - - - - -
Investment in Discontinued Operations .... - - - - - -
Current Assets ........................... 52,753 (166,491) 119,801 906 1 244
Other Assets ............................. 784 - 682 - - -
--------- --------- --------- --------- --------- ---------
Total Assets ........................ $ 670,126 $(552,388) $ 525,483 $ 205,178 $ 9,546 $ 2,759
========= ========= ========= ========= ========= =========
Common Shareholder's Equity .............. $ 334,629 $(385,897) $ 334,629 $ 183,153 (5,433) (9,501)
Preferred Shares, not subject to
mandatory redemption ................... - - - - - -
Preferred Shares, subject to
mandatory redemption ................... - - - - - -
Long-Term Debt
(excluding current portion) ............ 115,000 - 115,000 - - -
--------- --------- --------- --------- --------- ---------
Total Capitalization ................ 449,629 (385,897) 449,629 183,153 (5,433) (9,501)
--------- --------- --------- --------- --------- ---------
Power Purchase Contract .................. - - - - - -
Current Liabilities ...................... 54,503 (166,491) 76,941 18,121 2,459 20,141
Other Liabilities ........................ 165,994 - (1,087) 3,904 12,520 (7,881)
--------- --------- --------- --------- --------- ---------
Total Liabilities and Capitalization. $ 670,126 $(552,388) $ 525,483 $ 205,178 $ 9,546 $ 2,759
========= ========= ========= ========= ========= =========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING BALANCE SHEETS Page 19 of 21
FORM U-3A-2
AS OF DECEMBER 31, 1997
(in thousands)
InterCoast InterCoast InterCoast InterCoast Diversified
Sierra Power Global Trade & Electronics,
Power Marketing Management Resources Ltd.
---------- ---------- ---------- ---------- ------------
<S> <C> <C> <C> <C> <C>
Gross Utility Plant ......................... $ - $ - $ - $ - $ -
Less: Accumulated Utility Depreciation ..... - - - - -
Net Utility Plant ...................... - - - - -
Investment in Subsidiaries .................. - - - - -
Other Property and Investments .............. 86 - 8,013 205 1,125
Power Purchase Contract ..................... - - - - -
Investment in Discontinued Operations ....... - - - - -
Current Assets .............................. 461 12 1 17,957 3,411
Other Assets ................................ - - - 6 73
-------- -------- -------- -------- --------
Total Assets ........................... $ 547 $ 12 $ 8,014 $ 18,168 $ 4,609
======== ======== ======== ======== ========
Common Shareholder's Equity ................. $ (49) $ (1,341) $ 2,931 $ (1,402) $ 1,266
Preferred Shares, not subject to
mandatory redemption ...................... - - - - -
Preferred Shares, subject to
mandatory redemption ...................... - - - - -
Long-Term Debt (excluding current portion) .. - - - - -
-------- -------- -------- -------- --------
Total Capitalization ................... (49) (1,341) 2,931 (1,402) 1,266
-------- -------- -------- -------- --------
Power Purchase Contract ..................... - - - - -
Current Liabilities ......................... - 1,401 4,583 19,572 3,325
Other Liabilities ........................... 596 (48) 500 (2) 18
-------- -------- -------- -------- --------
Total Liabilities and Capitalization ... $ 547 $ 12 $ 8,014 $ 18,168 $ 4,609
======== ======== ======== ======== ========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING BALANCE SHEETS Page 20 of 21
FORM U-3A-2
AS OF DECEMBER 31, 1997
(in thousands)
A/C
MHC Security Cimmred
Investment Systems Leasing DCCO MWR
Co. (a) Inc. Amgas, Inc. Company Inc. Capital Inc.
---------- ---------- ----------- --------- -------- ------------
<S> <C> <C> <C> <C> <C> <C>
Gross Utility Plant ........................ $ - $ - $ - $ - $ - $ -
Less: Accumulated Utility Depreciation ..... - - - - - -
Net Utility Plant ..................... - - - - - -
Investment in Subsidiaries ................. - - - - - -
Other Property and Investments ............. 280,992 55 4,556 50,891 - 23,038
Power Purchase Contract .................... - - - - - -
Investment in Discontinued Operations ...... - - - - - -
Current Assets ............................. 2,995 607 18,479 30,002 3,265 2,771
Other Assets ............................... - - 23 - - -
-------- -------- -------- -------- -------- --------
Total Assets .......................... $283,987 $ 662 $ 23,058 $ 80,893 $ 3,265 $ 25,809
======== ======== ======== ======== ======== ========
Common Shareholder's Equity ................ $165,435 $ 234 $ 628 $ 22,926 $ 351 $ 1,902
Preferred Shares, not subject to
mandatory redemption ..................... - - - - - -
Preferred Shares, subject to
mandatory redemption ..................... - - - - - -
Long-Term Debt
(excluding current portion) .............. - - - - - -
-------- -------- -------- -------- -------- --------
Total Capitalization .................. 165,435 234 628 22,926 351 1,902
-------- -------- -------- -------- -------- --------
Power Purchase Contract .................... - - - - - -
Current Liabilities ........................ 42,422 428 23,132 282 3,152 10
Other Liabilities .......................... 76,130 - (702) 57,685 (238) 23,897
-------- -------- -------- -------- -------- --------
Total Liabilities and Capitalization .. $283,987 $ 662 $ 23,058 $ 80,893 $ 3,265 $ 25,809
======== ======== ======== ======== ======== ========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc.
<PAGE>
<TABLE>
<CAPTION>
MIDAMERICAN ENERGY HOLDINGS COMPANY Exhibit A
CONSOLIDATING BALANCE SHEETS Page 21 of 21
FORM U-3A-2
AS OF DECEMBER 31, 1997
(in thousands)
TTP, Inc. InterCoast
of South MidAmerican CHRS, Energy
Dakota (a) Rail Co. Inc. Company
---------- ----------- ---------- -----------
<S> <C> <C> <C> <C>
Gross Utility Plant .................................... $ - $ - $ - $ -
Less: Accumulated Utility Depreciation ................ - - - -
Net Utility Plant ................................. - - - -
Investment in Subsidiaries ............................. - - - -
Other Property and Investments ......................... 4,272 2,890 - 5,031
Power Purchase Contract ................................ - - - -
Investment in Discontinued Operations .................. - - - -
Current Assets ......................................... 778 12,123 4,790 640
Other Assets ........................................... - - - -
---------- ---------- ---------- ----------
Total Assets ...................................... $ 5,050 $ 15,013 $ 4,790 $ 5,671
========== ========== ========== ==========
Common Shareholder's Equity ............................ $ 3,324 $ 12,846 $ 4,129 $ 4,498
Preferred Shares, not subject to mandatory redemption .. - - - -
Preferred Shares, subject to mandatory redemption ...... - - - -
Long-Term Debt (excluding current portion) ............. - - - -
---------- ---------- ---------- ----------
Total Capitalization .............................. 3,324 12,846 4,129 4,498
---------- ---------- ---------- ----------
Power Purchase Contract ................................ - - - -
Current Liabilities .................................... - 654 1,114 3,257
Other Liabilities ...................................... 1,726 1,513 (453) (2,084)
---------- ---------- ---------- ----------
Total Liabilities and Capitalization .............. $ 5,050 $ 15,013 $ 4,790 $ 5,671
========== ========== ========== ==========
</TABLE>
(a) Capital Center II Limited Partnership, Capital Center III Limited
Partnership and Northgate Park Associates are accounted for in Midwest
Capital Group, Inc.; Edge Technologies Inc., McLeodUSA, Inc., Mycotech,
and Utech Venture Capital Corporation are accounted for in MHC Investment
Inc.; Founders Trust Company is accounted for in MidAmerican Capital
Company; Synergics Inc. is accounted for in IWG Co. 8; Tenaska III Texas
Partners is accounted for in TPP, Inc.
