|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: CAPITAL PRESERVATION FUND INC, NSAR-A, 1996-11-27 |
Next: CENTURY TELEPHONE ENTERPRISES INC, S-4, 1996-11-27 |
<PAGE>
CENTRAL OHIO COAL COMPANY
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 26573
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
CONTENTS
Page
Statements of Income and Retained Earnings 1
Balance Sheets 2-3
Information Concerning Mine Operations and
Capital Improvements 4
Calculation of Cost of Capital and
Statement of Cost of Commercial Coal Sold and Shipped 5
Statement of Cost of Operation 6
Analysis of Mining Plant in Service 7
<PAGE>
<PAGE>
CENTRAL OHIO COAL COMPANY
STATEMENT OF INCOME
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(UNAUDITED)
(in thousands)
OPERATING REVENUES $15,479
COST OF OPERATION 14,835
OPERATING INCOME 644
NONOPERATING INCOME 679
INCOME BEFORE INTEREST CHARGES 1,323
INTEREST CHARGES - to Parent Company 12
INCOME BEFORE FEDERAL INCOME TAXES 1,311
FEDERAL INCOME TAXES 710
NET INCOME $ 601
STATEMENT OF RETAINED EARNINGS
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(UNAUDITED)
(in thousands)
BALANCE AT BEGINNING OF PERIOD $ 7
NET INCOME 601
CASH DIVIDENDS DECLARED 408
BALANCE AT END OF PERIOD $200
The common stock of the Company is wholly owned by Ohio Power Company.
<PAGE>
<PAGE>
CENTRAL OHIO COAL COMPANY
BALANCE SHEET
(UNAUDITED)
September 30,
1996
(in thousands)
ASSETS
MINING PLANT:
Mining Plant in Service $70,918
Construction Work in Progress 2
Total Mining Plant 70,920
Accumulated Depreciation and Amortization 50,490
NET MINING PLANT 20,430
CURRENT ASSETS:
Cash and Cash Equivalents 33,802
Accounts Receivable:
General 1,941
Affiliated Companies 2,331
Coal 136
Materials and Supplies 8,453
Other 1,631
TOTAL CURRENT ASSETS 48,294
DEFERRED INCOME TAXES 19,920
REGULATORY ASSETS 1,846
DEFERRED CHARGES 218
TOTAL $90,708
<PAGE>
<PAGE>
CENTRAL OHIO COAL COMPANY
BALANCE SHEET
(UNAUDITED)
September 30,
1996
(in thousands)
CAPITALIZATION AND LIABILITIES
SHAREHOLDER'S EQUITY:
Common Stock - Par Value $0.10:
Authorized - 100,000 Shares
Outstanding - 69,000 Shares $ 7
Retained Earnings 200
TOTAL SHAREHOLDER'S EQUITY 207
LONG-TERM DEBT:
Finance Obligations 312
Advances from Parent Company 1,500
TOTAL LONG-TERM DEBT 1,812
OTHER NONCURRENT LIABILITIES:
Obligations Under Capital Leases 7,240
Operating Reserves 33,103
TOTAL OTHER NONCURRENT LIABILITIES 40,343
CURRENT LIABILITIES:
Long-term Debt Due Within One Year 104
Accounts Payable 2,403
Dividends Declared 20,370
Taxes Accrued 2,536
Accrued Reclamation Costs 2,505
Workers' Compensation Claims 1,405
Obligations Under Capital Leases 3,233
Other 2,450
TOTAL CURRENT LIABILITIES 35,006
REGULATORY LIABILITIES AND DEFERRED CREDITS 13,340
TOTAL $90,708
<PAGE>
<PAGE>
CENTRAL OHIO COAL COMPANY
INFORMATION CONCERNING MINE OPERATIONS AND CAPITAL IMPROVEMENTS
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
There were no significant changes with regard to the Company's
operations and mining plant during the quarter.
In September 1996, the Company was granted permission to reduce the
par value of its authorized common shares from $100 per share to $0.10
per share, thereby reducing its stated capital from $6.9 million to
$6,900. Also the Company was granted permission to return to its parent
$19,962,000 out of capital surplus through December 31, 1998. The HCAR
Release No. 26573 authorizes this return of capital. On October 1, 1996
the Company returned $19,662,000 to its parent out of capital along with
a $408,000 dividend from retained earnings.
<PAGE>
<PAGE>
<TABLE>
CENTRAL OHIO COAL COMPANY
CALCULATION OF COST OF CAPITAL AND STATEMENT OF COST OF COMMERCIAL COAL SOLD AND SHIPPED
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(in thousands, except as noted)
<CAPTION> July through
September
1996
<S> <C>
I. Calculation of Cost-of-Capital Compensation:
A. Equity Investment at Beginning of Period:
Common Stock $ 6,900
Paid-in Capital (excluding item D and item G) 450
7,350
B. Rate of Return Allowable per HCAR No. 22770:
12.81% per annum, 3.2025% per quarter .032025
C. Earnings Allowable: (re investment in item A)
1. Current Quarter $ 236
2. Year-to-Date $ 706
D. Equity Investment - January 1983 (Preparation Plant) $ 6,431
E. Rate of Return Allowable per HCAR No. 22770:
11.90% per annum, 2.975% per quarter .02975
F. Earnings Allowable: (re investment in item D)
1. Current Quarter $ 190
2. Year-to-Date $ 574
G. Equity Investment - January 1983 (Other Assets) $ 6,188
H. Rate of Return Allowable per HCAR No. 22770:
11.26% per annum, 2.815% per quarter .02815
I. Earnings Allowable: (re investment in item G)
1. Current Quarter $ 175
2. Year-to-Date $ 523
J. Total Earnings Allowable:
1. Current Quarter (C.1. + F.1. + I.1.) $ 601
2. Year-to-Date (C.2. + F.2. + I.2.) $ 1,803
K. Net Income per Statement of Income $ 601
Add: Interest Charges 12
Less: Nonoperating Income 679
L. Applied Cost-of-Capital Billing Adder:
1. Current Quarter $ (66)
2. Year-to-Date $ (413)
II. Coal Billing Calculation:
A. Total Operating Expenses (a) $ 15,545
B. Add: Cost-of-Capital Billing Adder as Applied per L. 1. of Section I (66)
C. Cost Applicable to Current Quarter Coal Billings 15,479
Less: Cost Applicable to Coal Sold to Unaffiliated Companies 1,516
Cost Applicable to Current Quarter Coal Billings to Ohio Power $ 13,963
D. Coal Sold and Shipped in Current Quarter to Ohio Power (in tons) 253,724
E. Average Price per Ton to Ohio Power (in dollars) (C/D) $55.03
(a) As represented by "Cost of Operation" plus "Federal Income Taxes" reported in Statements of Income.
/TABLE
<PAGE>
<PAGE>
CENTRAL OHIO COAL COMPANY
STATEMENT OF COST OF OPERATION
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(in thousands)
Direct Labor-UMW* $ 294
Indirect Labor-UMW* 1,507
Benefits-UMW* 1,549
Salaries and Benefits-Nonunion 1,098
Operating Supplies 1,571
Repair Parts and Materials 964
Electricity and Other Utilities 570
Outside Services-Maintenance, Haulage and Reclamation 355
Taxes Other Than Federal Income Taxes** 476
Rental of Equipment 2,022
Depreciation, Depletion and Amortization 4,735
Mining Cost Normalization*** (2,147)
Reclamation Cost-Net (134)
Other Production Costs 2,014
Subtotal 14,874
Transfers of Production Costs (to)/from Coal Inventory (39)
Total $14,835
* United Mine Workers of America.
** Excludes FICA, Federal Unemployment and State Unemployment.
These costs are reflected in employee benefits.
*** Represents the deferral/accrual required to establish a selling
price based on forecasted results for the remainder of the year.
The amount of mining cost normalization is established on an
"overall" company basis(i.e., not itemized) and is eliminated by
year-end.
<PAGE>
<PAGE>
CENTRAL OHIO COAL COMPANY
ANALYSIS OF MINING PLANT IN SERVICE
AND RELATED ACCUMULATED PROVISIONS FOR
DEPRECIATION AND AMORTIZATION
September 30, 1996
Net
Gross Accumulated Carrying
Cost Provisions Amount
(in thousands)
Description
Surface Lands $ 324 $ - $ 324
Mining Structures and Equipment 62,648 48,355 14,293
Coal Interests (net of depletion) 5,654 - 5,654
Mine Development Costs 2,292 2,135 157
Total Mining Plant
in Service $70,918 $50,490 $20,428
<PAGE>
<PAGE>
SOUTHERN OHIO COAL COMPANY
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 26573
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
CONTENTS
Page
Statements of Income and Retained Earnings 1
Balance Sheets 2-3
Information Concerning Mine Operations and
Capital Improvements 4
Calculation of Cost of Capital and
Statement of Cost of Commercial Coal Sold and Shipped 5
Statement of Cost of Operation 6
Analysis of Mining Plant in Service 7
<PAGE>
<PAGE>
SOUTHERN OHIO COAL COMPANY
STATEMENT OF INCOME
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(UNAUDITED)
(in thousands)
OPERATING REVENUES - Sales to Parent $44,388
COST OF OPERATION 38,192
OPERATING INCOME 6,196
INTEREST CHARGES 1,362
OPERATING INCOME BEFORE FEDERAL INCOME TAXES 4,834
FEDERAL INCOME TAXES ON OPERATIONS 2,818
NET INCOME FROM OPERATIONS 2,016
NONOPERATING INCOME 576
NET INCOME $ 2,592
STATEMENT OF RETAINED EARNINGS
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(UNAUDITED)
(in thousands)
BALANCE AT BEGINNING OF PERIOD $23,199
NET INCOME 2,592
CASH DIVIDENDS DECLARED 1,727
BALANCE AT END OF PERIOD $24,064
The common stock of the Company is wholly owned by Ohio Power Company.
<PAGE>
<PAGE>
SOUTHERN OHIO COAL COMPANY
BALANCE SHEET
(UNAUDITED)
September 30,
1996
(in thousands)
ASSETS
MINING PLANT:
Mining Plant in Service $362,832
Construction Work in Progress 9
Total Mining Plant 362,841
Accumulated Depreciation and Amortization 191,678
NET MINING PLANT 171,163
OTHER PROPERTY AND INVESTMENTS 61,739
CURRENT ASSETS:
Cash and Cash Equivalents 35,687
Accounts Receivable:
General 4,667
Insurance 13,079
Affiliated Companies 6,917
Coal 1,242
Materials and Supplies 10,007
Other 3,023
TOTAL CURRENT ASSETS 74,622
REGULATORY ASSETS 58,428
DEFERRED CHARGES 3,893
TOTAL $369,845
<PAGE>
<PAGE>
SOUTHERN OHIO COAL COMPANY
BALANCE SHEET
(UNAUDITED)
September 30,
1996
(in thousands)
CAPITALIZATION AND LIABILITIES
SHAREHOLDER'S EQUITY:
Common Stock - Par Value $1:
Authorized and Outstanding - 5,000 Shares $ 5
Premium on Common Stock 9,996
Other Paid-in Capital 81,834
Retained Earnings 24,064
TOTAL SHAREHOLDER'S EQUITY 115,899
LONG-TERM DEBT - Notes Payable to Banks 61,681
OTHER NONCURRENT LIABILITIES:
Obligations Under Capital Leases 20,650
Operating Reserves 44,021
TOTAL OTHER NONCURRENT LIABILITIES 64,671
CURRENT LIABILITIES:
Long-term Debt Due Within One Year 20,000
Short-term Debt - Notes Payable to Parent 2,500
Accounts Payable 5,556
Dividends Declared 22,586
Accrued Vacation Pay 3,131
Workers' Compensation Claims 9,079
Obligations Under Capital Leases 9,046
Other 6,446
TOTAL CURRENT LIABILITIES 78,344
DEFERRED INCOME TAXES 47,685
DEFERRED CREDITS 1,565
TOTAL $369,845
<PAGE>
<PAGE>
SOUTHERN OHIO COAL COMPANY
INFORMATION CONCERNING MINE OPERATIONS AND CAPITAL IMPROVEMENTS
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
There were no significant changes with regard to the Company's
operations and mining plant during the quarter.
In September 1996, the Company was granted permission to return to
its parent up to $68,000,000 out of capital surplus through December 31,
1998. The HCAR Release No. 26573 authorizes this return of capital. On
October 1, 1996 the Company returned $22,586,000 to its parent.
<PAGE>
<PAGE>
<TABLE> SOUTHERN OHIO COAL COMPANY
CALCULATION OF COST OF CAPITAL AND STATEMENT OF COST OF COMMERCIAL COAL SOLD AND SHIPPED
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(in thousands, except as noted)
<CAPTION> July through
September
1996
<S> <C>
I. Calculation of Cost-of-Capital Compensation:
A. Investment at Beginning of Period:
Common Stock $ 5
Premium on Common Stock 9,996
Other Paid-in Capital (excluding item D and item G) 55,233
65,234
B. Rate of Return Allowable per HCAR Nos. 20515 and
21008: 12.11% per annum, 3.0275% per quarter .030275
C. Earnings Allowable: (re investment in item A)
1. Current Quarter $ 1,975
2. Year-to-Date $ 5,923
D. Equity Investment for the months of June 1981, December 1981 and September 1982 $ 26,240
E. Rate of Return Allowable per HCAR Nos. 21008, 21537,
22129 and 22401: 12.04% per annum, 3.01% per quarter .0301
F. Earnings Allowable: (re investment in item D)
1. Current Quarter $ 789
2. Year-to-Date $ 2,373
G. Equity Investment for the months of March 1982, June 1982 and December 1982 $ 21,220
H. Rate of Return Allowable per HCAR Nos. 21008, 21537,
22129 and 22401: 13.58% per annum, 3.395% per quarter .03395
I. Earnings Allowable: (re investment in item G)
1. Current Quarter $ 721
2. Year-to-Date $ 2,161
J. Total Earnings Allowable:
1. Current Quarter (C.1. + F.1. + I.1.) $ 3,485
2. Year-to-Date (C.2. + F.2. + I.2.) $ 10,457
K. Net Income per Statement of Income (a) $ 2,592
Add: Interest Charges 1,362
Less: Nonoperating Income 576
L. Applied Cost-of-Capital Billing Adder:
1. Current Quarter $ 3,378
2. Year-to-Date $ 10,751
II. Coal Billing Calculation - Meigs Division:
A. Total Operating Expenses (b) $ 41,010
B. Add: Cost-of-Capital Billing Adder as Applied per L. 1. of Section I 3,378
C. Cost Applicable to Current Quarter Coal Billings to Ohio Power $ 44,388
D. Coal Sold and Shipped in Current Quarter to Ohio Power (in tons) 1,213,087
E. Average Price per Ton to Ohio Power (in dollars) (C/D) $36.59
(a) The Company sold its Martinka mining division and most of the Martinka related coal reserves to an
unaffiliated company. No return on equity investment associated with these operations has been billed since
the division ceased mining coal effective July 1, 1992. All results associated with the Martinka division
since then are billed to the Parent Company, Ohio Power Company, eliminating any earnings effect to the
Company.
(b) As represented by "Cost of Operation" plus "Federal Income Taxes On Operations" reported in Statement of
Income.
/TABLE
<PAGE>
<PAGE>
SOUTHERN OHIO COAL COMPANY
STATEMENT OF COST OF OPERATION
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(in thousands)
Direct Labor-UMW* $ 1,330
Indirect Labor-UMW* 4,907
Benefits-UMW* 4,591
Salaries and Benefits-Nonunion 4,791
Operating Supplies 3,670
Repair Parts and Materials 6,307
Electricity and Other Utilities 1,523
Outside Services-Maintenance, Haulage and Reclamation 4,221
Taxes Other Than Federal Income Taxes** 1,933
Rental of Equipment 3,963
Depreciation, Depletion and Amortization 5,050
Mining Cost Normalization*** (11,141)
Other Production Costs 7,063
Subtotal 38,208
Transfers of Production Costs (to)/from Coal Inventory (16)
Total $38,192
* United Mine Workers of America.
** Excludes FICA, Federal Unemployment and State Unemployment.
These costs are reflected in employee benefits.
*** Represents the deferral/accrual required to establish a selling
price based on forecasted results for the remainder of the year.
The amount of mining cost normalization is established on an
"overall" company basis(i.e., not itemized) and is eliminated by
year-end.
<PAGE>
<PAGE>
SOUTHERN OHIO COAL COMPANY
ANALYSIS OF MINING PLANT IN SERVICE
AND RELATED ACCUMULATED PROVISIONS FOR
DEPRECIATION AND AMORTIZATION
September 30, 1996
Net
Gross Accumulated Carrying
Cost Provisions Amount
(in thousands)
Description
Surface Lands $ 7,386 $ - $ 7,386
Mining Structures and Equipment 217,172 136,290 80,882
Coal Interests (net of depletion) 4,125 - 4,125
Mine Development Costs 134,149 55,388 78,761
Total Mining Plant
in Service $362,832 $191,678 $171,154
<PAGE>
<PAGE>
WINDSOR COAL COMPANY
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 26573
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
CONTENTS
Page
Statements of Income and Retained Earnings 1
Balance Sheets 2-3
Information Concerning Mine Operations and
Capital Improvements 4
Calculation of Cost of Capital and
Statement of Cost of Commercial Coal Sold and Shipped 5
Statement of Cost of Operation 6
Analysis of Mining Plant in Service 7
<PAGE>
<PAGE>
WINDSOR COAL COMPANY
STATEMENT OF INCOME
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(UNAUDITED)
(in thousands)
OPERATING REVENUES $19,934
COST OF OPERATION 19,502
OPERATING INCOME 432
NONOPERATING INCOME 42
INCOME BEFORE INTEREST CHARGES 474
INTEREST CHARGES - to Parent Company 5
INCOME BEFORE FEDERAL INCOME TAXES 469
FEDERAL INCOME TAXES 128
NET INCOME $ 341
STATEMENT OF RETAINED EARNINGS
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(UNAUDITED)
(in thousands)
BALANCE AT BEGINNING OF PERIOD $586
NET INCOME 341
BALANCE AT END OF PERIOD $927
The common stock of the Company is wholly owned by Ohio Power Company.
<PAGE>
<PAGE>
WINDSOR COAL COMPANY
BALANCE SHEET
(UNAUDITED)
September 30,
1996
(in thousands)
ASSETS
MINING PLANT:
Mining Plant in Service $60,071
Construction Work in Progress 132
Total Mining Plant 60,203
Accumulated Depreciation and Amortization 29,727
NET MINING PLANT 30,476
CURRENT ASSETS:
Cash and Cash Equivalents 15
Accounts Receivable:
General 3,327
Affiliated Companies 5,019
Coal 822
Materials and Supplies 3,766
Other 330
TOTAL CURRENT ASSETS 13,279
REGULATORY ASSETS 1,772
DEFERRED CHARGES 450
TOTAL $45,977
<PAGE>
<PAGE>
WINDSOR COAL COMPANY
BALANCE SHEET
(UNAUDITED)
September 30,
1996
(in thousands)
CAPITALIZATION AND LIABILITIES
SHAREHOLDER'S EQUITY:
Common Stock - Par Value $100:
Authorized - 5,000 Shares
Outstanding - 4,064 Shares $ 406
Paid-in Capital 10,470
Retained Earnings 927
TOTAL SHAREHOLDER'S EQUITY 11,803
LONG-TERM DEBT:
Finance Obligations 7,853
Advances from Parent Company 225
TOTAL LONG-TERM DEBT 8,078
OTHER NONCURRENT LIABILITIES:
Obligations Under Capital Leases 1,475
Operating Reserves 13,785
TOTAL OTHER NONCURRENT LIABILITIES 15,260
CURRENT LIABILITIES:
Long-term Debt Due Within One Year 570
Accounts Payable:
General 1,776
Affiliated Companies 218
Accrued Vacation Pay 685
Workers' Compensation Claims 2,490
Obligations Under Capital Leases 829
Other 652
TOTAL CURRENT LIABILITIES 7,220
REGULATORY LIABILITIES 2,469
DEFERRED CREDITS 1,147
TOTAL $45,977
<PAGE>
PAGE>
WINDSOR COAL COMPANY
INFORMATION CONCERNING MINE OPERATIONS AND CAPITAL IMPROVEMENTS
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
There were no significant changes with regard to the Company's
operations and mining plant during the quarter.
<PAGE>
<PAGE>
<TABLE> WINDSOR OHIO COAL COMPANY
CALCULATION OF COST OF CAPITAL AND STATEMENT OF COST OF COMMERCIAL COAL SOLD AND SHIPPED
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(in thousands, except as noted)
<CAPTION> July through
September
1996
<S> <C>
I. Calculation of Cost-of-Capital Compensation:
A. Equity Investment at Beginning of Period:
Common Stock $ 406
Paid-in Capital (excluding item D) 8,353
Excess of Acquisition Cost Over Net Book Value 172
8,931
B. Rate of Return Allowable per HCAR No. 22179:
12.04% per annum, 3.01% per quarter (a) .0301
C. Earnings Allowable on Equity Investment
1. Current Quarter $ 269
2. Year-to-Date $ 806
D. Equity Investment for the month of December 1982 $ 2,117
E. Rate of Return Allowable per HCAR No. 22179:
13.58% per annum, 3.395% per quarter .03395
F. Earnings Allowable: (re investment in item D)
1. Current Quarter $ 72
2. Year-to-Date $ 216
G. Total Earnings Allowable:
1. Current Quarter (C.1. + F.1.) $ 341
2. Year-to-Date (C.2. + F.2.) $ 1,022
H. Net Income per Statement of Income $ 341
Add: Interest Charges 5
Less: Nonoperating Income 42
I. Applied Cost-of-Capital Billing Adder:
1. Current Quarter $ 304
2. Year-to-Date $ 981
II. Coal Billing Calculation:
A. Total Operating Expenses (b) $ 19,630
B. Add: Cost-of-Capital Billing Adder as Applied per I. 1. of Section I 304
C. Cost Applicable to Current Quarter Coal Billings 19,934
Less: Cost Applicable to Coal Sold to Unaffiliated Companies 4,100
Cost Applicable to Current Quarter Coal Billings to Ohio Power $ 15,834
D. Coal Sold and Shipped in Current Quarter to Ohio Power (in tons) 131,981
E. Average Price per Ton to Ohio Power (in dollars) (C/D) $119.97
(a) HCAR No. 22179 pertains to only a portion of the equity investment ($7,497,000), however, the approved rate
is being applied to Ohio Power Company's full equity investment, excluding retained earnings.
(b) As represented by "Cost of Operation" plus "Federal Income Taxes" reported in Statement of Income.
/TABLE
<PAGE>
<PAGE>
WINDSOR COAL COMPANY
STATEMENT OF COST OF OPERATION
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
(in thousands)
Direct Labor-UMW* $ 503
Indirect Labor-UMW* 1,509
Benefits-UMW* 1,244
Salaries and Benefits-Nonunion 1,212
Operating Supplies 723
Repair Parts and Materials 1,339
Electricity and Other Utilities 421
Outside Services-Maintenance, Haulage and Reclamation 1,218
Taxes Other Than Federal Income Taxes** 1,249
Rental of Equipment 892
Depreciation, Depletion and Amortization 1,772
Royalties 225
Mining Cost Normalization*** 5,359
Other Production Costs 1,985
Subtotal 19,651
Transfers of Production Costs (to)/from Coal Inventory (149)
Total $19,502
* United Mine Workers of America.
** Excludes FICA, Federal Unemployment and State Unemployment.
These costs are reflected in employee benefits.
*** Represents the deferral/accrual required to establish a selling
price based on forecasted results for the remainder of the year.
The amount of mining cost normalization is established on an
"overall" company basis(i.e., not itemized) and is eliminated by
year-end.
<PAGE>
<PAGE>
WINDSOR COAL COMPANY
ANALYSIS OF MINING PLANT IN SERVICE
AND RELATED ACCUMULATED PROVISIONS FOR
DEPRECIATION AND AMORTIZATION
September 30, 1996
Net
Gross Accumulated Carrying
Cost Provisions Amount
(in thousands)
Description
Surface Lands $ 634 $ - $ 634
Mining Structures and Equipment 47,787 24,714 23,073
Coal Interests (net of depletion) 1,609 - 1,609
Mine Development Costs 10,041 5,013 5,028
Total Mining Plant
in Service $60,071 $29,727 $30,344
|
|