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Previous: CATERPILLAR INC, 8-K, 1999-11-19 |
Next: CENTURYTEL INC, 8-A12B/A, 1999-11-19 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Public Utility Holding Company Act of 1935
File No. 70-9073
Report For Period: July 1, 1999 to September 30, 1999
In the Matter of:
CENTRAL AND SOUTH WEST CORPORATION AND
CENTRAL POWER AND LIGHT COMPANY, et al.
This report is filed under Rule 24 of the Public Utility Holding Company Act of
1935 by Central Power and Light Company (CPL), a subsidiary of Central and South
West Corporation (CSW), pursuant to an order issued by the Securities and
Exchange Commission dated October 21, 1998 (HCAR 35-26931). The Better Choice
Home Mortgage Program ("Better Choices Program") is a mortgage incentive program
designed to promote efficient energy use and environmental conservation. The
matter requires that CPL file quarterly reports providing the following
information with respect to the Better Choices Program provided to nonaffiliates
by CPL, Public Service Company of Oklahoma (PSO), Southwestern Electric Power
Company (SWEPCO) and West Texas Utilities Company (WTU), (collectively,
"Operating Companies") and Central and South West Services, Inc. (Services): 1)
a balance sheet as of the relevant quarterly reporting date, 2) income statement
for the preceding twelve months, and 3) the name of each Company providing the
marketing services authorized by this order, the total number of Home
Certifications made during the relevant period. This report covers the period
from July 1, 1999 through September 30, 1999.
<PAGE>
The requested information for the reporting period July 1, 1999 through
September 30, 1999, The requested information for the reporting period July 1,
1999 through September 30, 1999, is as follows:
1) Copies of the Operating Companies and Services balance sheet for the
reporting period ended September 30,1999 are attached as Exhibit 1.
2) Copies of the Operating Companies and Services income statement for the
twelve months ended September 30, 1999 are attached as Exhibit 2.
3) A) The name(s) of each company providing the marketing services
authorized by this order during the period ended September 30, 1999 are:
NONE.
B) The total number of Home Certifications made during the period ended
September 30, 1999 are: NONE.
<PAGE>
S I G N A T U R E
As requested by order of this Commission pursuant to the Public Utility Holding
Company Act of 1935, Central Power and Light Company has duly caused this report
to be signed on its behalf on this 19th day of November 1999.
Central Power and
Light Company, et al.
/s/ R. Russell Davis
---------------------
R. Russell Davis
Controller and Chief
Accounting Officer
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Exhibit
1 Balance sheet for the reporting period ended
September 30, 1999, as required for:
a) Central Power and Light (CPL)
b) Public Service Company of Oklahoma (PSO)
c) Southwestern Electric Power Company (SWEPCO)
d) West Texas Utilities Company (WTU)
e) Central and South West Services, Inc. (Services)
2 Income statement for the twelve months ended
September 30, 1999, as required for:
a) Central Power and Light (CPL)
b) Public Service Company of Oklahoma (PSO)
c) Southwestern Electric Power Company (SWEPCO)
d) West Texas Utilities Company (WTU)
e) Central and South West Services, Inc. (Services)
Central Power and Light Company Exhibit 1 (a)
Consolidated Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 3,150,632
Transmission 547,040
Distribution 1,133,759
General 298,247
Construction work in progress 100,626
Nuclear fuel 218,571
-----------------
5,448,875
Less - Accumulated depreciation 2,230,908
-----------------
3,217,967
-----------------
Current Assets
Cash 12,460
Accounts receivable 60,619
Materials and supplies, at average cost 57,937
Fuel inventory, at LIFO costs 23,383
Under-recovered fuel costs 22,676
Prepayments and other 10,269
-----------------
187,344
-----------------
Deferred Charges and Other Assets
Regulatory assets 1,184,066
Nuclear decommissioning trust 76,948
Other 107,331
-----------------
1,368,345
-----------------
$ 4,773,656
=================
<PAGE>
Central Power and Light Company Exhibit 1 (a)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $25 par value
Authorized shares: 12,000,000
Issued and outstanding shares: 6,755,535 $ 168,888
Paid-in capital 405,000
Retained earnings 795,651
-----------------
Total Common Stock Equity 1,369,539
-----------------
Preferred stock 163,203
CPL-obligated, mandatorily redeemable preferred securities of
subsidiary trust holding solely Junior Subordinated
Debentures of CPL 150,000
Long-term debt 1,101,136
-----------------
Total Capitalization 2,783,878
-----------------
Current Liabilities
Long-term debt due within twelve months 125,000
Advances from affiliates 251,692
Payables to affiliates 19,027
Accounts payable 98,555
Customer Deposits 11,621
Accrued interest 27,255
Accrued taxes 74,789
Accumulated deferred income taxes 3,973
Other 11,721
-----------------
623,633
-----------------
Deferred Credits
Accumulated deferred income taxes 1,220,732
Investment tax credits 134,608
Other 10,805
-----------------
1,366,145
-----------------
$ 4,773,656
=================
<PAGE>
Public Service Company of Oklahoma Exhibit 1 (b)
Consolidated Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 914,073
Transmission 390,500
Distribution 877,664
General 214,645
Construction work in progress 39,295
-----------------
2,436,177
Less - Accumulated depreciation 1,104,846
-----------------
1,331,331
-----------------
Current Assets
Cash 3,792
Accounts receivable 24,840
Materials and supplies, at average cost 33,426
Fuel inventory, at LIFO cost 17,631
Under-recovered fuel costs 9,555
Accumulated deferred income taxes 22,003
Prepayments and other 6,783
-----------------
118,030
-----------------
Deferred Charges and Other Assets 82,117
-----------------
$ 1,531,478
=================
<PAGE>
Public Service Company of Oklahoma Exhibit 1 (b)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $15 par value
Authorized shares: 11,000,000 shares
Issued 10,482,000 shares and outstanding 9,013,000 shares $157,230
Paid-in capital 180,000
Retained earnings 166,922
-----------------
Total Common Stock Equity 504,152
-----------------
Preferred stock 5,286
PSO-obligated, mandatorily redeemable preferred securities of
subsidiary trust holding solely Junior Subordinated
Debentures of PSO 75,000
Long-term debt 374,440
-----------------
Total Capitalization 958,878
-----------------
Current Liabilities
Long-term debt due within twelve months 10,000
Advances from affiliates 20,392
Payables to affiliates 23,201
Accounts payable 46,444
Customer deposits 17,671
Accrued interest 10,184
Accrued taxes 38,858
Other 9,376
-----------------
176,126
-----------------
Deferred Credits
Accumulated deferred income taxes 304,273
Investment tax credits 38,022
Income tax related regulatory liabilities, net 31,438
Other 22,741
-----------------
396,474
-----------------
$ 1,531,478
=================
<PAGE>
Southwestern Electric Power Company Exhibit 1 (c)
Consolidated Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 1,393,236
Transmission 480,520
Distribution 945,639
General 329,626
Construction work in progress 55,101
-----------------
3,204,122
Less - Accumulated depreciation 1,368,345
-----------------
1,835,777
-----------------
Current Assets
Cash 3,032
Accounts receivable 56,478
Accounts receivable from affiliates 18,258
Materials and supplies, at average cost 26,211
Fuel inventory, at average cost 55,566
Accumulated deferred income taxes 2,548
Prepayments and other 18,264
-----------------
180,357
-----------------
Deferred Charges and Other Assets 94,964
-----------------
$ 2,111,098
=================
<PAGE>
Southwestern Electric Power Company Exhibit 1 (c)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $18 par value
Authorized: 7,600,000 shares
Issued and outstanding: 7,536,640 shares $ 135,660
Paid-in capital 245,000
Retained earnings 295,846
-----------------
Total Common Stock Equity 676,506
-----------------
Preferred stock 4,706
SWEPCO-obligated, mandatorily redeemable preferred securities
of subsidiary trust holding solely Junior Subordinated
Debentures of SWEPCO 110,000
Long-term debt 496,114
-----------------
Total Capitalization 1,287,326
-----------------
Current Liabilities
Long-term debt due within twelve months 47,807
Advances from affiliates 88,075
Payables to affiliates 40,643
Accounts payable 64,820
Customer deposits 13,860
Accrued interest 12,816
Accrued taxes 58,600
Over-recovered fuel costs 5,155
Other 14,716
-----------------
346,492
-----------------
Deferred Credits
Accumulated deferred income taxes 381,765
Investment tax credits 58,790
Other 36,725
-----------------
477,280
-----------------
$ 2,111,098
=================
<PAGE>
West Texas Utilities Company Exhibit 1 (d)
Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 425,231
Transmission 217,614
Distribution 396,938
General 112,851
Construction work in progress 19,243
-----------------
1,171,877
Less - Accumulated depreciation 489,856
-----------------
682,021
-----------------
Current Assets
Cash 5,217
Advances to affiliates 12,751
Accounts receivable 27,075
Accounts receivable from affiliates 3,855
Materials and supplies, at average cost 13,564
Fuel inventory, at LIFO cost 15,191
Under-recovered fuel costs 13,032
Prepayments and other 10,664
-----------------
101,349
-----------------
Deferred Charges and Other Assets
Deferred Oklaunion costs 9,285
Other 66,851
-----------------
76,136
-----------------
$ 859,506
=================
<PAGE>
West Texas Utilities Company Exhibit 1 (d)
Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $25 par value
Authorized: 7,800,000 shares
Issued and outstanding: 5,488,560 shares $ 137,214
Paid-in capital 2,236
Retained earnings 123,769
-----------------
Total Common Stock Equity 263,219
-----------------
Preferred stock 2,482
Long-term debt 263,644
-----------------
Total Capitalization 529,345
-----------------
Current Liabilities
Long-term debt due within twelve months 40,000
Payables to affiliates 16,584
Accounts payable 44,422
Customer deposits 2,327
Accrued interest 7,955
Accrued taxes 17,446
Accumulated deferred income taxes 735
Other 12,323
-----------------
141,792
-----------------
Deferred Credits
Accumulated deferred income taxes 145,671
Investment tax credits 25,641
Income tax related regulatory liabilities, net 13,093
Other 3,964
-----------------
188,369
-----------------
$ 859,506
=================
<PAGE>
Central and South West Services Exhibit 1 (e)
Balance Sheet (unaudited) Page 1 of 1
- --------------------------------------------------------------------------------
As of September 30,
1999
-----------------
(thousands)
ASSETS
Property, Plant and Equipment
General $ 123,261
Less - Accumulated depreciation 44,218
-----------------
79,043
-----------------
Current Assets
Cash 1,397
Accounts receivable 26,921
Materials and supplies, at average cost 8
Prepayments 84
-----------------
28,410
-----------------
Deferred Charges and Other Assets 24,594
-----------------
$ 132,047
=================
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $10 par value
Authorized: 10,000 shares
Issued and outstanding: 10,000 shares $ 100
-----------------
Total Common Stock Equity 100
-----------------
Total Capitalization 100
-----------------
Current Liabilities
Advance Money Pool Payable 89,380
Advances from affiliates 1,384
Accounts payable 15,027
Accrued interest 406
Accrued taxes 787
Other 3,909
-----------------
110,893
-----------------
Deferred Credits
Accumulated deferred income taxes 12,845
Other 8,209
-----------------
21,054
-----------------
$ 132,047
=================
Central Power and Light Company Exhibit 2 (a)
Consolidated Statement of Income (unaudited) Page 1 of 1
- --------------------------------------------------------------------------------
Twelve Months
Ended September 30,
1999
-----------------
(thousands)
Electric Operating Revenues $ 1,475,325
-----------------
Operating Expenses and Taxes
Fuel 395,871
Purchased power 64,953
Other operating 279,284
Maintenance 69,690
Depreciation and amortization 212,444
Taxes, other than income 76,402
Income taxes 92,672
-----------------
1,191,316
-----------------
Operating Income 284,009
-----------------
Other Income and (Deductions)
Allowance for equity funds used during construction (1)
Other (2,822)
Non-operating income taxes 5,296
-----------------
2,473
-----------------
Income Before Interest Charges 286,482
-----------------
Interest Charges
Interest on long-term debt 88,337
Distributions on Trust Preferred Securities 12,000
Interest on short-term debt and other 16,975
Allowance for borrowed funds used during construction (3,287)
-----------------
114,025
-----------------
Net Income 172,457
Less: Preferred stock dividends 7,499
=================
Net Income for Common Stock $ 164,958
=================
<PAGE>
Public Service Company of Oklahoma Exhibit 2 (b)
Consolidated Statement of Income (unaudited) Page 1 of 1
- --------------------------------------------------------------------------------
Twelve Months
Ended September 30,
1999
-----------------
(thousands)
Electric Operating Revenues $ 745,434
-----------------
Operating Expenses and Taxes
Fuel 275,951
Purchased power 62,781
Other operating 121,998
Maintenance 43,777
Depreciation and amortization 73,870
Taxes, other than income 31,043
Income taxes 33,708
-----------------
643,128
-----------------
Operating Income 102,306
-----------------
Other Income and (Deductions)
Allowance for equity funds used during construction 547
Other (2,706)
Non-operating income taxes 2,015
-----------------
(144)
-----------------
Income Before Interest Charges 102,162
-----------------
Interest Charges
Interest on long-term debt 26,643
Interest on short-term debt and other 4,107
Distributions on Trust Preferred Securities 6,549
Allowance for borrowed funds used during construction (1,298)
-----------------
36,001
-----------------
Net Income 66,161
Less: Preferred stock dividends 213
-----------------
Net Income for Common Stock $ 65,948
=================
<PAGE>
Southwestern Electric Power Company Exhibit 2 (c)
Consolidated Statement of Income (unaudited) Page 1 of 1
- --------------------------------------------------------------------------------
Twelve Months
Ended September 30,
1999
-----------------
(thousands)
Electric Operating Revenues $ 948,895
-----------------
Operating Expenses and Taxes
Fuel 365,582
Purchased power 32,144
Other operating 144,664
Maintenance 65,309
Depreciation and amortization 101,164
Taxes, other than income 53,541
Income taxes 40,042
-----------------
802,446
-----------------
Operating Income 146,449
-----------------
Other Income and (Deductions)
Allowance for equity funds used during construction 449
Other (7,121)
Non-operating income taxes 4,751
-----------------
(1,921)
-----------------
Income Before Interest Charges 144,528
-----------------
Interest Charges
Interest on long-term debt 39,008
Distributions on Trust Preferred Securities 8,662
Interest on short-term debt and other 10,313
Allowance for borrowed funds used during construction (1,539)
-----------------
56,444
-----------------
Extraordinary loss, net of tax benefit of $1,621 (3,011)
Net Income 85,073
Less: Preferred stock dividends 229
(Loss) on reacquired preferred stock (1)
=================
Net Income for Common Stock $ 84,843
=================
<PAGE>
West Texas Utilities Company Exhibit 2 (d)
Statement of Income (unaudited) Page 1 of 1
- --------------------------------------------------------------------------------
Twelve Months
Ended September 30,
1999
-----------------
(thousands)
Electric Operating Revenues $ 432,447
-----------------
Operating Expenses and Taxes
Fuel 121,426
Purchased power 59,396
Other operating 92,252
Maintenance 19,594
Depreciation and amortization 43,200
Taxes, other than income 27,679
Income taxes 15,013
-----------------
378,560
-----------------
Operating Income 53,887
-----------------
Other Income and (Deductions)
Allowance for equity funds used during construction 491
Other 298
Non-operating income taxes 248
-----------------
1,037
-----------------
Income Before Interest Charges 54,924
-----------------
Interest Charges
Interest on long-term debt 20,352
Interest on short-term debt and other 4,733
Allowance for borrowed funds used during construction (665)
-----------------
24,420
-----------------
Extraordinary loss, net of tax benefit of $2,941 (5,461)
Net Income 25,043
Less: Preferred stock dividends 104
=================
Net Income for Common Stock $ 24,939
=================
<PAGE>
Central and South West Services Exhibit 2 (e)
Statement of Income (unaudited) Page 1 of 1
- --------------------------------------------------------------------------------
Twelve Months
Ended September 30,
1999
-----------------
(thousands)
Operating Expenses and Taxes
Fuel $ 4,271
Other operating 220,038
Maintenance 7,868
Depreciation and amortization 10,311
Taxes, other than income 9,913
Income taxes 2,836
-----------------
Operating (Loss) (255,237)
Other Income and (Deductions)
Services rendered to associates 260,097
-----------------
Income Before Interest Charges 4,860
Interest Charges
Interest on long-term debt --
Interest on short-term debt and other 4,860
-----------------
4,860
-----------------
Net Income for Common Stock $ --
=================
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