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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the quarterly period ended September 30, 2000.
OR
[_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934.
For the transition period from ___________ to ______________.
Commission File Number 333-79903
COPELCO CAPITAL RECEIVABLES LLC
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(exact name of Registrant as specified in its charter)
DELAWARE
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(state of incorporation or organization)
EAST GATE CENTER
700 EAST GATE DRIVE
MOUNT LAUREL, NEW JERSEY 08054-5400
(856) 231-9600
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(Address and Telephone Number of Principal Executive Officers)
IRS Employer Identification No: PENDING
Indicate by check mark whether the Registrants (1) have filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) have been subject to such
filing requirements for the past 90 days.
Yes X No
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* Applicable only to Corporate Issuers:
Indicate the number of shares outstanding of each Issuer's classes of common
stock, as of the latest practicable date. (Not Applicable)
The Registrant, a direct wholly owned subsidiary of Copelco Capital, Inc.
("Copelco") and an indirect wholly owned subsidiary of Citigroup Inc., meets the
conditions set forth in General Instruction H(1)(A) and (B) of Form 10-Q and is,
therefore, filing with the reduced disclosure format contemplated thereby.
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INDEX
COPELCO CAPITAL RECEIVABLES LLC
PART I - FINANCIAL INFORMATION
Item 1. Condensed Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition And
Results of Operations
Item 3. Quantitative And Qualitative Disclosures About Market Risk
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
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FINANCIAL INFORMATION
Item 1. Condensed Financial Statements
COPELCO CAPITAL RECEIVABLES LLC
UNAUDITED BALANCE SHEET AS OF
SEPTEMBER 30, 2000
09/30/00
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ASSETS:
CASH $ 29,522,100
CASH - RESTRICTED 9,293,907
DIRECT FINANCING LEASES:
LEASE PAYMENTS RECEIVABLE 948,872,953
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LESS: UNEARNED INCOME (125,806,890)
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NET INVESTMENT IN DIRECT FINANCING LEASES 823,066,063
TOTAL ASSETS $ 861,882,070
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LIABILITIES:
NOTES PAYABLE $ 827,780,545
LEASE SECURITY DEPOSITS 3,974,152
PAYABLE TO AFFILIATE 28,873,051
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TOTAL LIABILITIES 860,627,748
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SHAREHOLDER'S EQUITY:
COMMON STOCK 0
ADDITIONAL PAID IN CAPITAL 0
RETAINED EARNINGS 1,254,322
TOTAL SHAREHOLDER'S EQUITY 1,254,322
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TOTAL LIABILITIES & SHAREHOLDER'S EQUITY $ 861,882,070
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COPELCO CAPITAL RECEIVABLES LLC
UNAUDITED STATEMENT OF OPERATIONS AND RETAINED EARNINGS
FOR THE PERIOD ENDING SEPTEMBER 30, 2000
09/30/00
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REVENUES:
DIRECT FINANCING LEASES $17,764,984
OTHER 652,217
TOTAL REVENUE 18,417,202
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EXPENSES:
INTEREST 16,096,806
SELLING, GENERAL & ADMIN 1,668,178
TOTAL EXPENSES 17,764,984
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NET INCOME
$ 652,217
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RETAINED EARNINGS:
BEGINNING OF PERIOD $ 602,105
END OF PERIOD $ 1,254,322
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Item 2. Management's Discussion and Analysis of Financial Condition And
Results of Operations
Not Applicable.
Item 3. Quantitative And Qualitative Disclosures About Market Risk
Pursuant to General Instruction H(2)(C) of Form 10-Q, the information
required by this item has been omitted.
PART II -- OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
The following exhibit is furnished pursuant to Item 601 of
Regulation S-K:
Exhibit No. 27 Financial Data Schedule
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
COPELCO CAPITAL RECEIVABLES LLC
BY: COPELCO MANAGER, INC.
As Manager
Date: November 13, 2000
/s/ NICHOLAS ANTONACCIO
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Nicholas Antonaccio
Vice President-Finance & Treasurer
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