Form U -13 - 60
Mutual and Subsidiary Service Companies
ANNUAL REPORT
FOR THE PERIOD
Beginning January 1, 1994 and Ending December 31, 1994
TO THE
U. S. SECURITIES AND EXCHANGE COMMISSION
OF
NORTHEAST UTILITIES SERVICE COMPANY
A Subsidiary Service Company
Date of Incorporation - September 3, 1965
State of Sovereign Power under which Incorporated or
Organized - Connecticut
Location of Principal Executive Offices of Reporting
Company - Selden Street, Berlin, CT 06037
Name, title, and address of officer to whom correspondence
concerning this report should be addressed:
John W. Noyes, Vice President and Controller,
P.O. Box 270, Hartford, CT 06141-0270
Name of Principal Holding Company Whose Subsidiaries
are served by Reporting Company
NORTHEAST UTILITIES
INSTRUCTIONS FOR USE ON FORM U-13-60
1. TIME OF FILING
Rule 94 provides that on or before the first day of May in each calendar
year, each mutual service company and each subsidiary service company as to
which the Commission shall have made a favorable finding pursuant to Rule 88,
and every service company whose application for approval or declaration
pursuant to Rule 88 is pending shall file with the Commission an annual
report on Form U-13-60 and in accordance with the instructions for that form.
2. NUMBER OF COPIES
Each annual report shall be filed in duplicate. The company should prepare
and retain at least one extra copy for itself in case correspondence with
reference to the report becomes necessary.
3. PERIOD COVERED BY REPORT
The first report filed by any company shall cover the period from the date
the Uniform System of Accounts was required to be made effective as to that
company under Rules 82 and 93 to the end of that calendar year. Subsequent
reports should cover a calendar year.
4. REPORT FORMAT
Reports shall be submitted on the forms prepared by the Commission. If the
space provided on any sheet of such form is inadequate, additional sheets may
be inserted of the same size as a sheet of the form or folded to such size.
5. MONEY AMOUNTS DISPLAYED
All money amounts required to be shown in financial statements may be
expressed in whole dollars, in thousands of dollars or in hundred thousands
of dollars, as appropriate, and subject to provisions of Regulation S-X
(Section 210.3-0.1(b)).
6. DEFICITS DISPLAYED
Deficits and other like entries shall be indicated by the use of either
brackets or a parenthesis with corresponding reference in footnotes.
(Regulation S-X, (Section 210.3-0.1(c)).
7. MAJOR AMENDMENTS OR CORRECTIONS
Any company desiring to amend or correct a major omission or error in a
report after it has been filed with the Commission shall submit an amended
report including only those pages, schedules, and entries that are to be
amended or corrected. A cover letter shall be submitted requesting the
Commission to incorporate the amended report changes and shall be signed by a
duly authorized officer of the company.
8. DEFINITIONS
Definitions contained in Instruction 01-8 to the Uniform System of Accounts
for Mutual Service Companies and Subsidiary Service Companies, Public Utility
Holding Company Act of 1935, as amended February 2, 1979 shall be applicable
to words or terms used specifically within this Form U-13-60.
9. ORGANIZATION CHART
The service company shall submit with each annual report a copy of its
current organization chart.
10. METHODS OF ALLOCATION
The service company shall submit with each annual report a listing of the
currently effective methods of allocation being used by the service company
and on file with the Securities and Exchange Commission pursuant to the
Public Utility Holding Company Act of 1935.
11. ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED
The service company shall submit with each annual report a copy of the annual
statement supplied to each associate company in support of the amount of
compensation for use in capital billed during the calendar year.
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS
---------------------------------------------
Schedule or Page
Description of Schedules and Accounts Acct. No. No.
- ------------------------------------- ------------------- -----
COMPARATIVE BALANCE SHEET Schedule I 4-5
SERVICE COMPANY PROPERTY Schedule II 6-7
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY Schedule III 8
INVESTMENTS Schedule IV 9
ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES Schedule V 10
FUEL STOCK EXPENSES UNDISTRIBUTED Schedule VI 11
STORES EXPENSE UNDISTRIBUTED Schedule VII 12
MISCELLANEOUS CURRENT AND ACCRUED ASSETS Schedule VIII 13
MISCELLANEOUS DEFERRED DEBITS Schedule IX 14
RESEARCH, DEVELOPMENT, OR DEMONSTRATION
EXPENDITURES Schedule X 15
PROPRIETARY CAPITAL Schedule XI 16
LONG-TERM DEBT Schedule XII 17
CURRENT AND ACCRUED LIABILTIES Schedule XIII 18
NOTES TO FINANCIAL STATEMENTS Schedule XIV 19
COMPARATIVE INCOME STATEMENT Schedule XV 20
ANALYSIS OF BILLING - ASSOCIATE COMPANIES Account 457 21
ANALYSIS OF BILLING - NONASSOCIATE COMPANIES Account 458 22
ANALYSIS OF CHARGES FOR SERVICE - ASSOCIATE
AND NONASSOCIATE COMPANIES Schedule XVI 23
SCHEDULE OF EXPENSE BY DEPARTMENT OR SERVICE
FUNCTION Schedule XVII 24-25
DEPARTMENTAL ANALYSIS OF SALARIES Account 920 26
OUTSIDE SERVICES EMPLOYED Account 923 27
EMPLOYEE PENSIONS AND BENEFITS Account 926 28
GENERAL ADVERTISING EXPENSES Account 930.1 29
MISCELLANEOUS GENERAL EXPENSES Account 930.2 30
RENTS Account 931 31
TAXES OTHER THAN INCOME TAXES Account 408 32
DONATIONS Account 426.1 33
OTHER DEDUCTIONS Account 426.5 34
NOTES TO STATEMENT OF INCOME Schedule XVIII 35
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS
--------------------------------------------
Page
Description of Reports or Statements No.
- ------------------------------------ -----
ORGANIZATION CHART 36
METHODS OF ALLOCATION 37
ANNUAL STATEMENT OF COMPENSATION FOR
USE OF CAPITAL BILLED 38
SIGNATURE PAGE 39
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
SCHEDULE I - COMPARATIVE BALANCE SHEET
Give balance sheet of the Company as of December 31 of the current and prior year.
- ----------------------------------------------------------------------------------------
ACCOUNT ASSETS AND OTHER DEBITS AS OF DECEMBER 31
- ----------------------------------------------------------------------------------------
1994 1993
<S> <C> <C>
SERVICE COMPANY PROPERTY (Thousands of Dollars)
------------------------
101 Service company property (Schedule II) 65,531 63,614
107 Construction work in progress (Schedule II) 21,269 11,751
----------- -----------
Total Property 86,800 75,365
----------- -----------
108 Less accumulated provision for depreciation and
amortization of service company property (Schedule III) 57,657 55,024
----------- -----------
Net Service Company Property 29,143 20,341
----------- -----------
INVESTMENTS
-----------
123 Investments in associate companies (Schedule IV) - -
124 Other investments (Schedule IV) 949 949
----------- -----------
Total Investments 949 949
----------- -----------
CURRENT AND ACCRUED ASSETS
--------------------------
131 Cash 16,464 8,281
134 Special deposits - -
135 Working funds 471 481
136 Temporary cash investments (Schedule IV) - -
141 Notes receivable - -
143 Accounts receivable 21,448 20,944
144 Accumulated provision of uncollectible accounts - -
146 Accounts receivable from associate companies (Schedule V) 144,628 44,456
152 Fuel stock expenses undistributed (Schedule VI) - -
154 Materials and supplies 73 158
163 Stores expense undistributed (Schedule VII) - -
165 Prepayments 1,010 1,034
174 Miscellaneous current and accrued assets (Schedule VIII) - -
----------- -----------
Total Current and Accrued Assets 184,094 75,354
----------- -----------
DEFERRED DEBITS
---------------
181 Unamortized debt expense - -
184 Clearing accounts 59 (12)
186 Miscellaneous deferred debits (Schedule IX) 4,586 5,889
188 Research, development, or demonstration
expenditures (Schedule X) - -
190 Accumulated deferred income taxes 14,759 13,166
----------- -----------
Total Deferred Debits 19,404 19,043
----------- -----------
TOTAL ASSETS AND OTHER DEBITS 233,590 115,687
=========== ===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
SCHEDULE I - COMPARATIVE BALANCE SHEET
Give balance sheet of the Company as of December 31 of the current and prior year.
- ----------------------------------------------------------------------------------------
ACCOUNT LIABILITIES AND PROPRIETARY CAPITAL AS OF DECEMBER 31
- ----------------------------------------------------------------------------------------
1994 1993
<S> <C> <C>
PROPRIETARY CAPITAL (Thousands of Dollars)
-------------------
201 Common stock issued (Schedule XI) $- $-
211 Miscellaneous paid-in-capital (Schedule XI) 1 1
215 Appropriated retained earnings (Schedule XI) - -
216 Unappropriated retained earnings (Schedule XI) - -
----------- -----------
Total Proprietary Capital 1 1
----------- -----------
LONG-TERM DEBT
--------------
223 Advances from associate companies (Schedule XII) - -
224 Other long-term debt (Schedule XII) - -
225 Unamortized premium on long-term debt - -
226 Unamortized discount on long-term debt-debit - -
----------- -----------
Total Long-Term Debt - -
----------- -----------
CURRENT AND ACCRUED LIABILITIES
-------------------------------
231 Notes payable - -
232 Accounts payable 45,800 21,457
233 Notes payable to associate companies (Schedule XIII) 121,725 34,875
234 Accounts payable to associate companies (Schedule XIII) 4,663 4,937
236 Taxes accrued 5,731 (1,013)
237 Interest accrued - -
238 Dividends declared - -
241 Tax collections payable 124 361
242 Miscellaneous current and accrued
liabilities (Schedule XIII) 38,681 39,120
----------- -----------
Total Current and Accrued Liabilities 216,724 99,737
----------- -----------
DEFERRED CREDITS
----------------
253 Other deferred credits 16,865 15,949
255 Accumulated deferred investment tax credits - -
----------- -----------
Total Deferred Credits 16,865 15,949
----------- -----------
282 ACCUMULATED DEFERRED INCOME TAXES - -
--------------------------------- ----------- -----------
TOTAL LIABILITIES AND PROPRIETARY CAPITAL 233,590 115,687
=========== ===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE II - SERVICE COMPANY PROPERTY
- -------------------------------------------------------------------------------------------
BALANCE AT RETIREMENTS BALANCE
BEGINNING OR OTHER AT CLOSE
DESCRIPTION OF YEAR ADDITIONS SALES CHANGES(1) OF YEAR
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(Thousands of Dollars)
SERVICE COMPANY PROPERTY
- ------------------------
Account
- -------
301 ORGANIZATION
303 MISCELLANEOUS INTANGIBLE PLANT 468 468
304 LAND AND LAND RIGHTS
305 STRUCTURES AND IMPROVEMENTS
306 LEASEHOLD IMPROVEMENTS 2,812 2,812
307 EQUIPMENT (2) 45,036 1,445 46,481
308 OFFICE FURNITURE AND EQUIPMENT 14,636 165 14,801
309 AUTOMOBILES, OTHER VEHICLES
AND RELATED GARAGE EQUIPMENT 2 2
310 AIRCRAFT AND AIRPORT EQUIPMENT
311 OTHER SERVICE COMPANY
PROPERTY (3) 659 308 967
---------- --------- ----------- ---------- ----------
SUB-TOTAL 63,613 1,918 0 0 65,531
---------- --------- ----------- ---------- ----------
107 CONSTRUCTION WORK IN
PROGRESS (4) 11,752 9,517 21,269
---------- --------- ----------- ---------- ----------
TOTAL 75,365 11,435 0 0 86,800
========== ========= =========== ========== ==========
- -------------------------------------------------------------------------------------------
(1) PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
NONE
</TABLE>
<TABLE>
<CAPTION>
SCHEDULE II - CONTINUED
-----------------------
(2) SUBACCOUNTS ARE REQUIRED FOR EACH CLASS OF EQUIPMENT OWNED. THE SERVICE COMPANY
SHALL PROVIDE A LISTING BY SUBACCOUNT OF EQUIPMENT ADDITIONS DURING THE YEAR AND
THE BALANCE AT THE CLOSE OF THE YEAR:
- -------------------------------------------------------------------------------------------
BALANCE
AT CLOSE
SUBACCOUNT DESCRIPTION ADDITIONS OF YEAR
- -------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
307NA Automatic Data Processing Equipment 1,359 35,075
307NB Construction Equipment 32 143
307NC Other Communication Equipment (16) 7,420
307NL Research and Laboratory Equipment 70 3,682
307NM Microwave Equipment - 149
307NP Printing and Stationery Equipment - 12
----------- ----------
TOTAL 1,445 46,481
=========== ==========
- -------------------------------------------------------------------------------------------
(3) DESCRIBE OTHER SERVICE COMPANY PROPERTY:
This account includes audio, visual, cafeteria and training equipment.
- -------------------------------------------------------------------------------------------
(4) DESCRIBE CONSTRUCTION WORK IN PROGRESS:
This account includes data processing equipment and other general plant items.
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE III
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY PROPERTY
------------------------------------------
- -------------------------------------------------------------------------------------------
ADDITIONS OTHER
BALANCE AT CHARGED CHANGES BALANCE
BEGINNING TO ADD AT CLOSE
DESCRIPTION OF YEAR ACCT 403 RETIREMENTS (DEDUCT)1/ OF YEAR
- -------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C>
Account
- -------
301 ORGANIZATION
303 MISCELLANEOUS INTANGIBLE PLANT 468 468
304 LAND AND LAND RIGHTS
305 STRUCTURES AND IMPROVEMENTS
306 LEASEHOLD IMPROVEMENTS 2,680 4 2,684
307 EQUIPMENT 37,393 2,500 (2) 39,891
308 OFFICE FURNITURE AND FIXTURES 13,858 125 13,983
309 AUTOMOBILES, OTHER VEHICLES
AND RELATED GARAGE EQUIPMENT 3 (1) 2
310 AIRCRAFT AND AIRPORT EQUIPMENT
311 OTHER SERVICE COMPANY
PROPERTY 622 7 629
---------- --------- ----------- ---------- ----------
TOTAL 55,024 2,635 0 (2) 57,657
========== ========= =========== ========== ==========
- -------------------------------------------------------------------------------------------
(1) PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
NONE
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE IV - INVESTMENTS
INSTRUCTIONS: Complete the following schedule concerning investments.
Under Account 124, "Other Investments," state each investment
separately, with description, including the name of issuing company,
number of shares or principal amount, etc.
Under Account 136, "Temporary Cash Investments," list each investment
separately.
- ---------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- ---------------------------------------------------------------------------------------
(THOUSANDS OF DOLLARS)
<S> <C> <C>
ACCOUNT 123 - INVESTMENT IN ASSOCIATE COMPANIES $- $-
ACCOUNT 124 - OTHER INVESTMENTS:
Cash Surrender Value of Company Owned Life Insurance 949 949
ACCOUNT 136 - TEMPORARY CASH INVESTMENTS - -
----------- ----------
TOTAL $949 $949
=========== ==========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable from each
associate company. Where the service company has provided accommodation or
convenience payments for associate companies, a separate listing of total
payments for each associate company by subaccount should be provided.
- ------------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- ------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
- ---------------------------------------------
Northeast Utilities $2,304 $2,538
The Connecticut Light and Power Company (180) 10,548
The Rocky River Realty Company 31 376
Holyoke Water Power Company 359 1
Holyoke Power and Electric Company 1 1
Western Massachusetts Electric Company 554 4,211
Public Service Company of New Hampshire 2,138 2,779
North Atlantic Energy Corporation 5 38
North Atlantic Service Energy Corporation 1,129 1,186
The Quinnehtuk Company 3 7
Northeast Nuclear Energy Company 3,121 848
Charter Oak Energy Incorporated - 192
Charter Oak Paris Incorporated 1 0
COE (UK) Corporation - 7
COE Development Corporation 92 134
HEC Inc. 23 37
---------- -----------
9,581 22,903
---------- -----------
NOTES RECEIVABLE (MONEY POOL) FROM ASSOCIATE COMPANIES
- -------------------------------------------------------
The Connecticut Light and Power Company 1,250 92,750
Public Service Company of New Hampshire 2,500 -
North Atlantic Energy Corporation - -
The Rocky River Realty Company 16,500 16,500
The Quinnehtuk Company 4,250 4,500
Northeast Nuclear Energy Company 7,500 6,000
HEC Inc. 2,875 1,975
---------- -----------
34,875 121,725
---------- -----------
TOTAL $44,456 $144,628
========== ===========
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS:
See page 10A for details
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable from each
associate company. Where the service company has provided accommodation or
convenience payments for associate companies, a separate listing of total
payments for each associate company by subaccount should be provided.
- ------------------------------------------------------------------------------------------
TOTAL
PAYMENTS
- ------------------------------------------------------------------------------------------
(Thousands
of Dollars)
<S> <C>
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS:
Northeast Utilities $915
The Connecticut Light and Power Company 41,756
Holyoke Water Power Company 3,134
Western Massachusetts Electric Company 26,753
Public Service Company of New Hampshire 34,399
North Atlantic Energy Corporation 196
North Atlantic Service Energy Corporation 5,978
Northeast Nuclear Energy Company 36,766
Charter Oak Energy Incorporated 37
COE Development Corporation 225
COE (UK) Corporation 17
The Quinnehtuk Company 6
The Rocky River Realty Company (206)
HEC Inc. 54
-----------
TOTAL $150,030
===========
Convenience payments result primarily from the following items:
Net Power Exchange ($42,902)
Employee Pensions and Benefits 81,519
U.S. Department of Energy Fees 4,901
Electric Power Research Institute Fees 6,883
Legal Services 2,489
Conservation and Load Management 641
Non-Nuclear Insurance 9,742
Engineering Services 18,406
Communication Expenses 7,603
Computer Equipment & Supplies 1,177
Payroll Deductions to Credit Unions 34,176
Temporary Personnel Services 2,714
Nuclear Safety Emergency Program 1,858
Uranium Purchases 2,123
Miscellaneous (1096 items) 18,700
-----------
TOTAL $150,030
===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE VI - FUEL STOCK EXPENSES UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with respect to fuel
stock expenses during the year and indicate amount attributable to each
associate company. Under the section headed "Summary" listed below, give
an overall report of the fuel functions performed by the service
company.
- --------------------------------------------------------------------------------------
DESCRIPTION LABOR EXPENSES TOTAL
- --------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C>
ACCOUNT 152 - FUEL STOCK EXPENSES
UNDISTRIBUTED 477 68 545
The above fuel stock expenses are billed
back to each of the associated companies
listed below:
The Connecticut Light and Power Company (151) (19) (170)
Public Service Company of New Hampshire (214) (34) (248)
Western Massachusetts Electric Company (35) (8) (43)
Holyoke Water Power Company (77) (7) (84)
------- ------- -------
TOTAL 0 0 0
======= ======= =======
- --------------------------------------------------------------------------------------
SUMMARY: Fuel functions performed by the Service Company consist mainly of the
acquisition of fossil fuels.
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE VII - STORES EXPENSE UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with respect to stores
expense during the year and indicate amount attributable to each
associate company.
- --------------------------------------------------------------------------------------
DESCRIPTION LABOR EXPENSES TOTAL
- --------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C>
ACCOUNT 163 - STORES EXPENSE
UNDISTRIBUTED 2,658 471 3,129
The above stores expenses are billed back
to each of the companies listed below:
The Connecticut Light and Power Company (620) (253) (873)
Public Service Company of New Hampshire (141) (10) (151)
Western Massachusetts Electric Company (101) (38) (139)
Holyoke Water Power Company (39) (21) (60)
Northeast Nuclear Energy Company (1,208) (207) (1,415)
Connecticut Yankee Atomic Power Company -
(nonassociate company) (549) 58 (491)
------- ------- -------
TOTAL 0 0 0
======= ======= =======
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE VIII
MISCELLANEOUS CURRENT AND ACCRUED ASSETS
INSTRUCTIONS: Provide detail of items in this account. Items less than $10,000 may be
grouped, showing the number of items in each group.
- ----------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- ----------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C>
ACCOUNT 174 - MISCELLANEOUS CURRENT AND ACCRUED ASSETS $- $-
----------- ----------
TOTAL $- $-
=========== ==========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE IX
MISCELLANEOUS DEFERRED DEBITS
INSTRUCTIONS: Provide detail of items in this account. Items less than $10,000 may be
grouped, showing the number of items in each group.
- -----------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- -----------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
ACCOUNT 186 - MISCELLANEOUS DEFERRED DEBITS
Unfunded supplemental executive retirement plan 4,315 3,319
Employees performance payments 187 176
Agents account clearing 1,109 948
Deferred receivable from former employees 256 134
Deferred annuity 50 50
Miscellaneous (4 items at beginning and 6 items at end of year) (28) (41)
----------- ----------
TOTAL 5,889 4,586
=========== ==========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE X
RESEARCH, DEVELOPMENT, OR DEMONSTRATION EXPENDITURES
INSTRUCTIONS: Provide a description of each material research, development, or
demonstration project which incurred costs by the service corporation
during the year.
- ------------------------------------------------------------------------------------
DESCRIPTION AMOUNT
- ------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C>
ACCOUNT 188 - RESEARCH, DEVELOPMENT OR
DEMONSTRATION EXPENDITURES
Electric Car Research 36
Emissions Computer Mode 50
Electric Injury Trauma 45
EPRI Software Revisions 15
Advanced Gas Turbine Program 25
EPRI Engineering Services 19
Heat Pump Water Heater Research 78
Nuclear Computer Model 95
Nuclear Control Inspection Technique 15
Nuclear Core Shroud Cracking Inspection 89
Geothermal Ground Source Heat Pump Dues 44
High Speed Gas Bearing Centrifugal Compressor Research 50
High Efficiency Switched Reluctance Motor Research 50
Miscellaneous (14 items) 94
The above expenses are billed back to each of the
associated companies listed below:
The Connecticut Light and Power Company (354)
Public Service Company of New Hampshire (22)
Western Massachusetts Electric Company (96)
Holyoke Water Power Company (1)
Northeast Nuclear Energy Company (179)
Connecticut Yankee Atomic Power Company -
(nonassociate company) (53)
-------
TOTAL 0
=======
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XI
PROPRIETARY CAPITAL
- ------------------------------------------------------------------------------------------
NUMBER OF PAR OR STATED OUTSTANDING CLOSE OF PERIOD
ACCOUNT SHARES VALUE ---------------------------
NUMBER CLASS OF STOCK AUTHORIZED PER SHARE NO. OF SHARES TOTAL AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
201 COMMON STOCK ISSUED 5,000 $1.00 1 $1.00
- ------------------------------------------------------------------------------------------
INSTRUCTIONS: Classify amounts in each account with brief explanation, disclosing the
general nature of transactions which give rise to the reported amounts.
- ------------------------------------------------------------------------------------------
DESCRIPTION AMOUNT
- ------------------------------------------------------------------------------------------
(Thousands of Dollars)
ACCOUNT 211 - MISCELLANEOUS PAID-IN-CAPITAL $ 1
ACCOUNT 215 - APPROPRIATED RETAINED EARNINGS -
------
TOTAL $ 1
======
- ------------------------------------------------------------------------------------------
INSTRUCTIONS: Give particulars concerning net income or (loss) during the year,
distinguishing between compensation for the use of capital owed or net loss
remaining from servicing nonassociated per the General Instructions of the
Uniform Systems of Accounts. For dividends paid during the year in cash or
otherwise, provide rate pecentage, amount of dividend, date declared and
date paid.
- ------------------------------------------------------------------------------------------
BALANCE AT NET INCOME BALANCE AT
BEGINNING OR DIVIDENDS CLOSE
DESCRIPTION OF YEAR (LOSS) PAID OF YEAR
- ------------------------------------------------------------------------------------------
ACCOUNT 216-UNAPPROPRIATED RETAINED
EARNINGS $ - $ - $ - $ -
----- ----- ----- -----
TOTAL $ - $ - $ - $ -
===== ===== ===== =====
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XII
LONG-TERM DEBT
INSTRUCTIONS:Advances from associate companies should be reported separately for advances on notes,
and advances on open account. Names of associate companies from which advances were
received shall be shown under the class and series of obligation column. For Account 224
-- Other long-term debt provide the name of creditor company or organization, terms of
obligation, date of maturity, interest rate, and the amount authorized and outstanding.
- ------------------------------------------------------------------------------------------------------
TERMS OF OBLIG. DATE BALANCE AT BALANCE AT
CLASS & SERIES OF INTEREST AMOUNT BEGINNING CLOSE
NAME OF CREDITOR OF OBLIGATION MATURITY RATE AUTHORIZED OF YEAR ADDITIONS DEDUCTIONS(1) OF YEAR
- ------------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C>
ACCOUNT 223-
ADVANCES FROM $- $- $- $- $-
ASSOCIATE
COMPANIES
ACCOUNT 224-
OTHER LONG-
TERM DEBT: - - - - -
----- ----- ----- ----- -----
$- $- $- $- $-
===== ===== ===== ===== =====
</TABLE>
(1) GIVE AN EXPLANATION OF DEDUCTIONS:
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES
INSTRUCTIONS: Provide balance of notes and accounts payable to each associate company.
Give description and amount of miscellaneous current and accrued
liabilities. Items less than $10,000 may be grouped, showing the number of
items in each group.
- ------------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- ------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
ACCOUNT 233 - NOTES PAYABLE TO ASSOCIATE COMPANIES
Northeast Utilities 19,625 1,975
Public Service Company of New Hampshire - 35,000
Western Massachusetts Electric Company - 8,750
North Atlantic Energy Corporation - 28,750
Northeast Nuclear Energy Company 13,500 40,250
Holyoke Water Power Company 1,750 7,000
----------- ----------
TOTAL 34,875 121,725
=========== ==========
- ------------------------------------------------------------------------------------------
ACCOUNT 234 - ACCOUNTS PAYABLE TO ASSOCIATE COMPANIES
Northeast Utilities 2,219 255
The Connecticut Light and Power Company 888 (55)
The Rocky River Realty Company 1,012 1,051
Public Service Company of New Hampshire 187 204
Western Massachusetts Electric Company 49 47
Northeast Nuclear Energy Company - 3,096
Holyoke Water Power Company 17 65
Charter Oak Energy Incorporated 565 -
----------- ----------
TOTAL 4,937 4,663
=========== ==========
- ------------------------------------------------------------------------------------------
ACCOUNT 242 - MISCELLANEOUS CURRENT AND ACCRUED LIABILITIES
Pension Cost 25,822 25,559
Performance Reward Program 7,034 7,627
Payroll Accrual 4,745 4,735
Payroll Deductions 725 745
Early Retirement Program 745 -
Interest on Connecticut Sales Tax Settlement 15 15
Audit Expenses 34 -
Other (2 items at beginning and none at the end of period) - -
----------- ----------
TOTAL 39,120 38,681
=========== ==========
</TABLE>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XIV - NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any account thereof. Furnish particu-
lars as to any significant contingent assets or liabilities
existing at the end of the year. Notes relating to financial
statements shown elsewhere in this report may be indicated here
by reference.
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GENERAL
Northeast Utilities Service Company (NUSCO or the company), a wholly owned
subsidiary of Northeast Utilities (NU), supplies centralized accounting,
administrative, data processing, engineering, financial, legal, operational,
planning, purchasing, and other services to the system companies of NU.
The Connecticut Light and Power Company (CL&P), Public Service Company of New
Hampshire (PSNH), Western Massachusetts Electric Company (WMECO), and Holyoke
Water Power Company (HWP) are four of the operating subsidiaries of the
Northeast Utilities system (the system) and are wholly owned by NU.
DEPRECIATION
The provision for depreciation is calculated using the straight-line method
based on estimated remaining lives of depreciable utility plant-in-service, ad-
justed for salvage value and removal costs as approved by the appropriate
regulatory agency. Depreciation factors are applied to the average plant-in-
service during the period. The depreciation rates for the several classes of
plant-in-service are equivalent to a composite rate of 4.2 percent for 1994 and
3.6 percent in 1993. When plant is retired from service, the original cost of
the plant, including costs of removal, less salvage is charged to the
accumulated provision for depreciation.
2. LEASES
NUSCO has entered into lease agreements for the use of data processing, office
equipment, vehicles, and office space. For the purposes of this report, all
leases are accounted for as operating leases. At December 31, 1994, assuming
those leases which would have been classified as capital leases were capitalized
at the beginning of the lease terms, assets would have increased by
approximately $1,581,000, current liabilities would have
increased by approximately $449,000. There is no effect on the company's
results of operations.
Rental payments charged to operating expenses for 1994 and 1993 amounted to
approximately $1,327,000 for capital leases and $16,642,000 and $15,625,000,
respectively, for operating leases. Interest included in capital lease rental
payments for 1994 and 1993 was approximately $110,000 and $199,500,
respectively.
Future minimum rental payments, under long-term noncancelable leases as of
December 31, 1994, excluding executory costs such as property taxes, state use
taxes, insurance, and maintenance are approximately:
Capital Operating
Period Leases Leases
------ ------ ---------
(Thousands of Dollars)
1995. . . . . . . . . . . . . . . . . . $1,236 $ 13,317
1996. . . . . . . . . . . . . . . . . . 466 12,845
1997. . . . . . . . . . . . . . . . . . 0 12,196
1998. . . . . . . . . . . . . . . . . . 0 6,443
1999. . . . . . . . . . . . . . . . . . 0 5,902
After 1999. . . . . . . . . . . . . . . 0 74,341
------ --------
Future minimum lease payments . . . . . 1,702 $125,044
Less amount representing interest . . . 121 ========
------
Present value of future minimum
lease payments. . . . . . . . . . . . $1,581
======
3. SHORT-TERM DEBT
Certain subsidiaries of NU are members of the Northeast Utilities System Money
Pool (Pool). The Pool provides a more efficient use of the cash resources of
the system, and reduces outside short-term borrowings. NUSCO is not permitted
to borrow from the Pool but administers the Pool as agent for the member
companies. Short-term borrowing needs of the member companies are first met
with available funds of other member companies, including funds borrowed by NU
parent. NU parent may lend to the Pool but may not borrow. Funds may be
withdrawn from or repaid to the Pool at any time without prior notice. However,
borrowings based on loans from NU parent bear interest at NU parent's cost and
must be repaid based upon the terms of NU parent's original borrowing.
Investing and borrowing subsidiaries receive or pay interest based on the
average daily Federal Funds rate.
4. PENSION BENEFITS
The company participates in a uniform noncontributory-defined benefit retirement
plan covering all regular system employees. Benefits are based on years of
service and employees' highest eligible compensation during five consecutive
years of employment. The company's direct portion of the system's pension cost
approximated $(263,000) in 1994, and $8.8 million in 1993. Pension costs for
1994 and 1993 include approximately $1.3 million and $7.3 million, respectively,
related to work force reduction programs.
Currently, NUSCO funds annually an amount at least equal to that which will
satisfy the requirements of the Employee Retirement Income Security Act and the
Internal Revenue Code. Pension costs are determined using market-related values
of pension assets. Pension assets are invested primarily in domestic and
international equity securities and bonds.
- ---------------------------------------------------------------------------
For the Years Ended December 31, 1994 1993
- ---------------------------------------------------------------------------
(Thousands of Dollars)
Service cost. . . . . . . . . . . . . $ 9,598 $17,168
Interest cost . . . . . . . . . . . . 20,726 21,128
Return on plan assets . . . . . . . . 581 (36,245)
Net amortization. . . . . . . . . . . (31,168) 6,701
------- -------
Net pension cost. . . . . . . . . . . $ (263) $ 8,752
======= =======
For calculating pension cost, the following assumptions were used:
- ---------------------------------------------------------------------------
For the Years Ended December 31, 1994 1993
- ---------------------------------------------------------------------------
Discount rate . . . . . . . . . . . . 7.75% 8.00%
Expected long-term rate of return . . 8.50 8.50
Compensation/progression rate . . . . 4.75 5.00
The following table represents the plan's funded status reconciled to the
Balance Sheets:
- ---------------------------------------------------------------------------
At December 31, 1994 1993
- ---------------------------------------------------------------------------
(Thousands of Dollars)
Accumulated benefit obligation, including
$195,387,000 of vested benefits at
December 31, 1994 and $198,980,000 of
vested benefits at December 31, 1993. . $214,952 $222,527
======== ========
Projected benefit obligation (PBO). . . . 275,560 298,568
Market value of plan assets . . . . . . . 325,171 343,062
-------- --------
Market value in excess of PBO . . . . . . 49,611 44,494
Unrecognized transition amount. . . . . . (7,136) (7,742)
Unrecognized prior service costs. . . . . 208 1,180
Unrecognized net gain . . . . . . . . . . (68,242) (63,753)
-------- --------
Accrued pension liability . . . . . . . . $(25,559) $(25,821)
======== ========
The following actuarial assumptions were used in calculating the Plan's year-end
funded status:
- ---------------------------------------------------------------------------
At December 31, 1994 1993
- ---------------------------------------------------------------------------
Discount rate . . . . . . . . . . . . . . 8.25% 7.75%
Compensation/progression rate . . . . . . 5.00 4.75
5. POSTRETIREMENT BENEFITS OTHER THAN PENSIONS
The company provides certain health care benefits, primarily medical and dental,
and life insurance benefits through a benefit plan to retired employees. These
benefits are available for employees leaving the system who are otherwise
eligible to retire and have met specified service requirements. Effective
January 1, 1993, the company adopted Statement of Financial Accounting Standards
No. 106, "Accounting for Postretirement Benefits other than Pensions," (SFAS
106) on a prospective basis. Total health care and life insurance cost, part of
which was deferred or charged to plant, approximated $8.7 million in 1994 and
$9.6 million in 1993.
On January 1, 1993, the accumulated postretirement benefit obligation (APBO)
represented the system's transition obligation upon the adoption of SFAS 106.
As allowed by SFAS 106, the company is amortizing its transition obligation of
approximately $52 million over a 20-year period. For current employees and
certain retirees, the total SFAS 106 benefit is limited to two times the 1993
per retiree health care costs. The SFAS 106 obligation has been calculated
based on this assumption.
During 1993, the company began funding SFAS 106 postretirement costs through
external trusts. The company is funding annually amounts equal to the SFAS 106
costs for the year which also are tax-deductible under the Internal Revenue
Code. The trust assets are invested primarily in equity securities and bonds.
The following table represents the plan's funded status reconciled to the
Balance Sheet:
- ---------------------------------------------------------------------------
At December 31, 1994 1993
- ---------------------------------------------------------------------------
(Thousands of Dollars)
APBO:
Retirees. . . . . . . . . . . . . . . . . . $43,301 $36,120
Fully eligible active employees . . . . . . 29 84
Active employees not eligible to retire . . 16,824 17,766
------- -------
Total APBO. . . . . . . . . . . . . . . . . . 60,154 53,970
Less: Market value of plan assets. . . . . . 11,577 7,246
------- -------
APBO in excess of plan assets . . . . . . . . (48,577) (46,724)
Unrecognized transition amount. . . . . . . . 45,594 48,127
Unrecognized net loss (gain). . . . . . . . . 3,661 (649)
------- -------
Prepaid postretirement benefit costs. . . . . $ 678 $ 754
======= =======
The components of health care and life insurance costs are:
- ---------------------------------------------------------------------------
For the Years Ended December 31, 1994 1993
- ---------------------------------------------------------------------------
(Thousands of Dollars)
Service cost. . . . . . . . . . . . . . . . . $ 1,860 $ 2,608
Interest cost . . . . . . . . . . . . . . . . 4,761 4,467
Return on plan assets . . . . . . . . . . . . 103 (152)
Net amortization. . . . . . . . . . . . . . . 1,946 2,660
------- -------
Net health care and life insurance costs. . . $ 8,670 $ 9,583
======= =======
The following actuarial assumptions were used in calculating the plan's year-end
funded status:
- --------------------------------------------------------------------------
At December 31, 1994 1993
- --------------------------------------------------------------------------
Discount rate . . . . . . . . . . . . . . . . 8.00% 7.75%
Long-term rate of return - health assets,
net of tax. . . . . . . . . . . . . . . . . 5.00 5.00
Long-term rate of return - life assets. . . . 8.50 8.50
Health care cost trend rate (a) . . . . . . . 10.20 11.10
(a) The annual growth in per capita cost of covered health care benefits
was assumed to decrease to 5.4 percent by 2002.
The effect of increasing the assumed health care cost trend rates by one
percentage point in each year would increase the APBO as of December 31, 1994 by
approximately $3.0 million and the aggregate of the service and interest cost
components of net periodic postretirement benefit cost for the year then ended
by $324,000. The trust holding the plan assets is subject to federal income
taxes at a 35-percent tax rate.
6. COMMITMENTS AND CONTINGENCIES
Construction Program
--------------------
The Construction Program is subject to periodic review and revision.
Actual construction expenditures may vary from estimates due to factors
such as inflation, delays, the availability and cost of capital, and the
granting of timely and adequate rate relief by regulatory commissions, as
well as actions by other regulatory bodies.
NUSCO currently forecasts construction expenditures (including AFUDC) of
approximately $38.9 million for the years 1995-1999, including
approximately $9.3 million for 1995.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
FOR THE YEAR ENDED DECEMBER 31, 1994
SCHEDULE XV
COMPARATIVE INCOME STATEMENT
- --------------------------------------------------------------------------------------
ACCOUNT DESCRIPTION 1994 1993
- --------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
INCOME
------
457 Services rendered to associate companies 252,805 310,216
458 Services rendered to nonassociate companies 46,277 57,347
421 Miscellaneous income or loss 20 8
------------ -----------
Total Income 299,102 367,571
------------ -----------
EXPENSE
-------
920 Salaries and wages 142,037 179,159
921 Office supplies and expenses 32,090 29,997
922 Administrative expense transferred-credit - -
923 Outside services employed 45,848 64,012
924 Property insurance 40 91
925 Injuries and damages 617 683
926 Employee pensions and benefits 27,513 41,511
928 Regulatory commission expense 5 277
930.1 General advertising expenses - -
930.2 Miscellaneous general expenses 6,244 4,416
931 Rents 25,461 24,987
932 Maintenance of structures and equipment 1,451 2,243
403 Depreciation and amortization expense 2,635 2,715
408 Taxes other than income taxes 10,875 13,791
409 Income taxes 668 2,177
410 Provision for deferred income taxes 2,175 420
411 Provision for deferred income taxes-credit (2,843) (2,597)
411.5 Investment tax credit - -
426.1 Donations 440 468
426.5 Other deductions 3,777 3,205
427 Interest on long-term debt - -
430 Interest on debt to associate companies - -
431 Other interest expense 69 16
------------ -----------
Total Expense 299,102 367,571
------------ -----------
Net Income or (Loss) 0 0
============ ===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
ANALYSIS OF BILLING
ASSOCIATE COMPANIES
ACCOUNT 457
- ------------------------------------------------------------------------------
DIRECT INDIRECT COMPENSATION TOTAL
COSTS COSTS FOR USE AMOUNT
NAME OF ASSOCIATE COMPANY CHARGED CHARGED OF CAPITAL BILLED
- ------------------------------------------------------------------------------
(Thousands of Dollars)
457-1 457-2 457-3
---------------------------------------------
<S> <C> <C> <C> <C>
Northeast Utilities 11,718 18 $- 11,736
The Connecticut Light and
Power Company 98,824 8,849 - 107,673
Public Service Company of New
Hampshire 18,905 1,829 - 20,734
North Atlantic Energy
Corporation 105 13 - 118
Western Massachusetts
Electric Company 20,601 1,874 - 22,475
Holyoke Water Power Company 2,807 263 - 3,070
Holyoke Power and Electric
Company 12 1 - 13
Northeast Nuclear Energy Company 75,620 6,817 - 82,437
North Atlantic Energy Service
Corporation 1,990 132 - 2,122
The Quinnehtuk Company 35 4 - 39
The Rocky River Realty Company 1,013 30 - 1,043
Properties Inc. 2 - - 2
Charter Oak Energy Incorporated 520 13 - 533
Charter Oak Paris Incorporated 2 - - 2
COE Development Corporation 688 31 - 719
COE (UK) Corporation 25 1 - 26
HEC Inc. 58 5 - 63
---------- ---------- ----------- ----------
TOTAL 232,925 19,880 $- 252,805
========== ========== =========== ==========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
ANALYSIS OF BILLING
NONASSOCIATE COMPANIES
ACCOUNT 458
- -----------------------------------------------------------------------------------------------
DIRECT INDIRECT COMPENSATION EXCESS TOTAL
COSTS COSTS FOR USE TOTAL OR AMOUNT
NAME OF NONASSOCIATE COMPANY CHARGED CHARGED OF CAPITAL COSTS DEFICIENCY BILLED
- -----------------------------------------------------------------------------------------------
(Thousands of Dollars)
458-1 458-2 458-3 458-4
------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Connecticut Yankee Atomic
Power Company $ 22,731 $ 2,642 $ - $ 25,373 $ - $ 25,373
Connecticut Valley Electric
Exchange 5,879 150 - 6,029 6,029
New England Power Exchange 9,999 (144) - 9,855 9,855
New England Power Planning
Committee 3,734 (53) - 3,681 3,681
New England Power Pool 1,328 10 - 1,338 1,338
Yankee Gas Services Company 1 - - 1 1
------------------------------------------------------------
TOTAL $ 43,672 $ 2,605 $ - $ 46,277 $ - $ 46,277
============================================================
</TABLE>
INSTRUCTIONS: Provide a brief description of the services rendered to each
nonassociate company:
Northeast Utilities Service Company supplies centralized accounting,
administrative, data processing, engineering, financial, legal, operational,
planning, purchasing and/or other services.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE AND NONASSOCIATE COMPANIES
- -----------------------------------------------------------------------------------------------------
ASSOCIATE COMPANY CHARGES NONASSOCIATE COMPANY CHARGES
------------------------------------------------------
ACCOUNT DIRECT INDIRECT DIRECT INDIRECT
NUMBER DESCRIPTION OF ITEMS COST COST TOTAL COST COST TOTAL
- -----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 116,149 2,242 118,391 23,223 423 23,646
921 OFFICE SUPPLIES AND EXPENSES 21,024 6,659 27,683 3,717 690 4,407
922 ADMINISTRATIVE EXPENSE TRANSFERRED-
CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 39,457 995 40,452 5,254 142 5,396
924 PROPERTY INSURANCE (3) 38 35 0 5 5
925 INJURIES AND DAMAGES 522 0 522 95 0 95
926 EMPLOYEE PENSIONS AND BENEFITS 23,367 0 23,367 4,146 0 4,146
928 REGULATORY COMMISSION EXPENSE 1 0 1 4 0 4
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 6,076 12 6,088 154 2 156
931 RENTS 13,342 6,765 20,107 4,459 895 5,354
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 363 759 1,122 206 123 329
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 2,322 2,322 0 313 313
408 TAXES OTHER THAN INCOME TAXES 8,881 0 8,881 1,994 0 1,994
409 INCOME TAXES 668 0 668 0 0 0
410 PROVISION FOR DEFERRED INCOME TAXES 2,175 0 2,175 0 0 0
411 PROVISION FOR DEFERRED INCOME TAXES -
CREDIT (2,843) 0 (2,843) 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 433 0 433 7 0 7
426.5 OTHER DEDUCTIONS 3,268 88 3,356 409 12 421
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE 64 0 64 5 0 5
------------------------------------------------------
SUBTOTAL EXPENSES = 232,944 19,880 252,824 43,673 2,605 46,278
COMPENSATION FOR USE OF EQUITY CAPITAL=
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES= 0 0
431 OTHER INTEREST EXPENSE= 0 0
---------- -----------
TOTAL EXPENSES = 252,824 46,278
421 MISCELLANEOUS INCOME - CREDIT (19) 0 (19) (1) 0 (1)
------------------------------------------------------
TOTAL COST OF SERVICE = 232,925 19,880 252,805 43,672 2,605 46,277
======================================================
</TABLE>
INSTRUCTION: Total cost of service will
equal for associate and nonassociate
companies the total amount billed under
their separate analysis of billing
schedules.
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
TOTAL CHARGES FOR SERVICE
---------------------------------
ACCOUNT DIRECT INDIRECT
NUMBER DESCRIPTION OF ITEMS COST COST TOTAL
- --------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C>
920 SALARIES AND WAGES 139,372 2,665 142,037
921 OFFICE SUPPLIES AND EXPENSES 24,741 7,349 32,090
922 ADMINISTRATIVE EXPENSE TRANSFERRED-
CREDIT 0 0 0
923 OUTSIDE SERVICES EMPLOYED 44,711 1,137 45,848
924 PROPERTY INSURANCE (3) 43 40
925 INJURIES AND DAMAGES 617 0 617
926 EMPLOYEE PENSIONS AND BENEFITS 27,513 0 27,513
928 REGULATORY COMMISSION EXPENSE 5 0 5
930.1 GENERAL ADVERTISING EXPENSES 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 6,230 14 6,244
931 RENTS 17,801 7,660 25,461
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 569 882 1,451
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 2,635 2,635
408 TAXES OTHER THAN INCOME TAXES 10,875 0 10,875
409 INCOME TAXES 668 0 668
410 PROVISION FOR DEFERRED INCOME TAXES 2,175 0 2,175
411 PROVISION FOR DEFERRED INCOME TAXES -
CREDIT (2,843) 0 (2,843)
411.5 INVESTMENT TAX CREDIT 0 0 0
426.1 DONATIONS 440 0 440
426.5 OTHER DEDUCTIONS 3,677 100 3,777
427 INTEREST ON LONG-TERM DEBT 0 0 0
431 OTHER INTEREST EXPENSE 69 0 69
---------------------------------
SUBTOTAL EXPENSES = 276,617 22,485 299,102
COMPENSATION FOR USE OF EQUITY CAPITAL=
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES= 0
431 OTHER INTEREST EXPENSE= 0
-----------
TOTAL EXPENSES = 299,102
421 MISCELLANEOUS INCOME - CREDIT (20) 0 (20)
---------------------------------
TOTAL COST OF SERVICE = 276,597 22,485 299,082
=================================
</TABLE>
INSTRUCTION: Total cost of service will
equal for associate and nonassociate
companies the total amount billed under
their separate analysis of billing
schedules.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION BY
DEPARTMENT OR SERVICE FUNCTION
- ----------------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT TOTAL --------------------------------
NUMBER DESCRIPTION OF ITEMS AMOUNT OVERHEAD (1) (2) (3) (4)
- ----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 142,037 2,665 1,235 1,140 37,647 6,100
921 OFFICE SUPPLIES AND EXPENSES 32,090 7,349 89 216 7,072 570
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 45,848 1,137 76 7,983 12,849 276
924 PROPERTY INSURANCE 40 43 0 0 0 0
925 INJURIES AND DAMAGES 617 0 0 0 0 0
926 EMPLOYEE PENSIONS AND BENEFITS 27,513 0 112 413 9 5
928 REGULATORY COMMISSION EXPENSE 5 0 0 0 0 0
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 6,244 14 64 1,888 2 0
931 RENTS 25,461 7,660 0 4 530 15
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 1,451 882 0 0 11 2
403 DEPRECIATION AND AMORTIZATION EXPENSE 2,635 2,635 0 0 0 0
408 TAXES OTHER THAN INCOME TAXES 10,875 0 0 0 0 0
409 INCOME TAXES 668 0 0 0 0 0
410 PROVISION FOR DEFERRED INCOME TAXES 2,175 0 0 0 0 0
411 PROVISION FOR DEFERRED INCOME TAXES - CREDIT (2,843) 0 0 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 440 0 0 0 0 0
426.5 OTHER DEDUCTIONS 3,777 100 40 0 10 15
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE 69 0 0 0 0 0
------------------------------------------------
TOTAL EXPENSES = 299,102 22,485 1,616 11,644 58,130 6,983
================================================
</TABLE>
INSTRUCTIONS: Indicate each department or
service function. (See Instruction 01-3
General Structure of Accounting System:
Uniform System of Accounts)
See page 25 for explanation of above service
functions.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION BY
DEPARTMENT OR SERVICE FUNCTION
- ----------------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT ------------------------------------------------
NUMBER DESCRIPTION OF ITEMS (5) (6) (7) (8) (9) (10)
- ----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 10,767 3,965 3,282 17,549 370 16,991
921 OFFICE SUPPLIES AND EXPENSES 265 754 352 6,866 43 2,045
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 133 439 43 5,136 63 1,936
924 PROPERTY INSURANCE 0 0 0 0 0 0
925 INJURIES AND DAMAGES 0 0 0 0 0 0
926 EMPLOYEE PENSIONS AND BENEFITS 0 0 0 0 0 7
928 REGULATORY COMMISSION EXPENSE 1 0 0 0 0 4
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 63 170 128 429 0 2
931 RENTS 10 5 0 12,963 0 1,992
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 0 0 0 (6) 0 100
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 0 0 0 0 0
408 TAXES OTHER THAN INCOME TAXES 0 0 0 0 0 0
409 INCOME TAXES 0 0 0 0 0 0
410 PROVISION FOR DEFERRED INCOME TAXES 0 0 0 0 0 0
411 PROVISION FOR DEFERRED INCOME TAXES - CREDIT 0 0 0 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 0 0 0 0 0 1
426.5 OTHER DEDUCTIONS 7 2 0 0 1 0
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE 0 0 0 0 0 0
------------------------------------------------
TOTAL EXPENSES = 11,246 5,335 3,805 42,937 477 23,078
================================================
</TABLE>
INSTRUCTIONS: Indicate each department or
service function. (See Instruction 01-3
General Structure of Accounting System:
Uniform System of Accounts)
See page 25 for explanation of above service
functions.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION BY
DEPARTMENT OR SERVICE FUNCTION
- ----------------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT ------------------------------------------------
NUMBER DESCRIPTION OF ITEMS (11) (12) (13) (14) (15) (16)
- ----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 86 6,569 1,610 4,963 5,049 1,739
921 OFFICE SUPPLIES AND EXPENSES 6 1,421 133 1,027 647 119
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 0 3,925 670 2,498 1,313 58
924 PROPERTY INSURANCE 0 0 0 0 (3) 0
925 INJURIES AND DAMAGES 0 24 0 42 0 0
926 EMPLOYEE PENSIONS AND BENEFITS 0 0 97 25,563 0 0
928 REGULATORY COMMISSION EXPENSE 0 0 0 0 0 0
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 0 4 696 317 2 0
931 RENTS 0 0 0 156 223 0
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 0 53 0 0 11 0
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 0 0 0 0 0
408 TAXES OTHER THAN INCOME TAXES 0 0 0 0 0 0
409 INCOME TAXES 0 0 0 0 0 0
410 PROVISION FOR DEFERRED INCOME TAXES 0 0 0 0 0 0
411 PROVISION FOR DEFERRED INCOME TAXES - CREDIT 0 0 0 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 0 425 2 0 2 0
426.5 OTHER DEDUCTIONS 0 54 45 0 69 0
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE 0 0 0 0 0 0
------------------------------------------------
TOTAL EXPENSES = 92 12,475 3,253 34,566 7,313 1,916
================================================
</TABLE>
INSTRUCTIONS: Indicate each department or
service function. (See Instruction 01-3
General Structure of Accounting System:
Uniform System of Accounts)
See page 25 for explanation of above service
functions.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION BY
DEPARTMENT OR SERVICE FUNCTION
- --------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT ----------------------------------------
NUMBER DESCRIPTION OF ITEMS (17) (18) (19) (20) (21)
- --------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 472 2,976 8,852 8,010 0
921 OFFICE SUPPLIES AND EXPENSES 116 444 1,436 1,120 0
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 26 1,520 3,708 2,009 50
924 PROPERTY INSURANCE 0 0 0 0 0
925 INJURIES AND DAMAGES 0 524 0 27 0
926 EMPLOYEE PENSIONS AND BENEFITS 0 0 0 0 1,307
928 REGULATORY COMMISSION EXPENSE 0 0 0 0 0
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 16 1 2,448 0 0
931 RENTS 17 0 1 1,885 0
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 0 144 69 185 0
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 0 0 0 0
408 TAXES OTHER THAN INCOME TAXES 0 0 0 0 10,875
409 INCOME TAXES 0 0 0 0 668
410 PROVISION FOR DEFERRED INCOME TAXES 0 0 0 0 2,175
411 PROVISION FOR DEFERRED INCOME TAXES - CREDIT 0 0 0 0 (2,843)
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0
426.1 DONATIONS 0 0 10 0 0
426.5 OTHER DEDUCTIONS 3,429 0 5 0 0
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0 0 0 0 0
431 OTHER INTEREST EXPENSE 0 0 0 0 69
----------------------------------------
TOTAL EXPENSES = 4,076 5,609 16,529 13,236 12,301
========================================
</TABLE>
INSTRUCTIONS: Indicate each department or
service function. (See Instruction 01-3
General Structure of Accounting System:
Uniform System of Accounts)
See page 25 for explanation of above service
functions.
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XVII
-------------
KEYS FOR SERVICE FUNCTIONS
--------------------------
KEYS SERVICE FUNCTION
---- ----------------
(1) Chairman/President and Chief Executive Officer
(2) President-Energy Resources Group and Chief Financial Officer
(3) Executive V.P. - Nuclear
(4) V.P. Fossil and Hydro Engineering and Operations
(5) V.P. and Controller
(6) V.P. and Treasurer
(7) V.P. - Wholesale Marketing
(8) V.P. - Information Resources
(9) President - Retail Business Group
(10) V.P. - Transmission and Distribution
(11) V.P. - Retail Marketing
(12) Director - Customer Service
(13) Senior V.P. - Human Resources and Administrative Services
(14) Assistant V.P. - Human Resources
(15) V.P. - Purchasing and General Services
(16) Director - Internal Audit and Security
(17) Senior V.P. - Governmental Affairs
(18) V.P. - Secretary and General Counsel
(19) V.P. - Corporate and Environmental Affairs
(20) New England Power Pool
(21) Corporate Expenses - unallocated
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
DEPARTMENTAL ANALYSIS OF SALARIES
---------------------------------
ACCOUNT 920
DEPARTMENTAL SALARY EXPENSE
NAME OF DEPARTMENT INCLUDED IN AMOUNTS BILLED TO NUMBER OF
- ------------------ -------------------------------------- PERSONNEL
Indicate each dept. TOTAL PARENT OTHER NON END
or service function. AMOUNT COMPANY ASSOCIATES ASSOCIATES OF YEAR
- -------------------- -------------------------------------- ---------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C>
Chairman/President and Chief
Executive Officer 1,235 67 1,086 82 5
President- Energy Resources Group
and Chief Financial Officer (1) 1,165 21 1,091 53 13
Executive V.P. - Nuclear 37,647 0 28,030 9,617 593
V.P. Fossil and Hydro Engineering
and Operations 6,100 0 6,069 31 95
V.P. and Controller (2) 10,773 14 10,350 409 206
V.P. and Treasurer (3) 3,984 30 3,823 131 85
V.P. - Wholesale Marketing 3,282 3 3,268 11 56
V.P. Information Resources 17,549 0 16,591 958 288
President-Retail Business Group (4) 372 1 369 2 3
V.P. - Transmission and Distribution (5) 16,992 0 14,230 2,762 278
V.P. - Retail Marketing 86 0 86 0 3
Director - Customer Service (6) 6,574 0 6,552 22 150
Senior V.P.- Human Resources and
Administrative Services (7) 1,615 4 1,426 185 28
Assistant V.P. - Human Resources (8) 5,115 1 4,744 370 95
V.P. Purchasing and General
Services (9) 7,496 8 6,885 603 160
Director Internal Audit and Security (10) 1,742 25 1,478 239 29
Senior V.P.- Governmental Affairs 472 0 441 31 5
V.P., Secretary and
General Counsel 2,976 26 2,785 165 49
V.P. - Corporate and Environmental
Affairs 8,852 2 8,658 192 136
New England Power Pool 8,010 0 227 7,783 123
-------------------------------------- ---------
142,037 202 118,189 23,646 2,400
====================================== =========
(1) Total amount includes $25,000 of payroll overhead.
(2) Total amount includes $6,000 of payroll overhead.
(3) Total amount includes $19,000 of payroll overhead.
(4) Total amount includes $2,000 of payroll overhead.
(5) Total amount includes $1,000 of payroll overhead.
(6) Total amount includes $5,000 of payroll overhead.
(7) Total amount includes $5,000 of payroll overhead.
(8) Total amount includes $152,000 of payroll overhead.
(9) Total amount includes $2,447,000 of payroll overhead.
(10) Total amount includes $3,000 of payroll overhead.
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed. If the
aggregate amounts paid to any one payee and included within one subaccount
is less than $25,000, only the aggregate number and amount of all
such payments included within the subaccount need be shown. Provide a
subtotal for each type of service.
- ------------------------------------------------------------------------------------------
RELATIONSHIP
"A"-ASSOCIATE
"NA"-NON
FROM WHOM PURCHASED ASSOCIATE AMOUNT
- ------------------------------------------------------------------------------------------
(Thousands
of Dollars)
<S> <C>
AUDITING SERVICES
- -----------------
KPMG PEAT MARWICK NA 214
ARTHUR ANDERSEN LLP NA 143
-----------
TOTAL AUDITING SERVICES 357
===========
ENGINEERING SERVICES
- --------------------
ABB COMBUSTION ENGINEERING NA 85
ABB IMPELL CORPORATION NA 48
APPLIED ENGINEERING ASSOCIATES NA 36
B & W FUEL COMPANY NA 121
B & W NUCLEAR SERVICE COMPANY NA 419
BABCOCK & WILCOX INDUSTRIES LIMITED NA 54
BECHTEL POWER CORPORATION NA 28
COMBUSTION ENGINEERING NA 153
DDL OMNI ENGINEERING NA 36
EASTERN ENGINEERING NA 41
EBASCO SERVICES INCORPORATED NA 662
ELECTRIC POWER RESEARCH INSTITUTE NA 871
GENERAL ELECTRIC COMPANY NA 191
GENERAL PHYSICS CORPORATION NA 25
KALSI ENGINEERING INCORPORATED NA 159
NUCLEAR UTILITIES SERVICES COMPANY NA 42
NUCON ENGINEERING ASSOCIATES INC NA 30
NUS CORPORATION NA 82
PROTO POWER CORPORATION NA 613
SIEMENS NUCLEAR POWER CORPORATION NA 41
SPEAR CONSULTANTS INCORPORATED NA 67
STONE & WEBSTER ENGINEERING CORP NA 1,281
TAD ENERGY SERVICES NA 29
TECHNICAL AID CORPORATION NA 883
TECHNOLOGY RESEARCH CORPORATION NA 57
TELEDYNE ENGINEERING SERVICES NA 41
WESTINGHOUSE ELECTRIC CORPORATION NA 369
MISCELLANEOUS ( 10 PAYEES) NA 89
-----------
TOTAL ENGINEERING SERVICES 6,553
===========
LEGAL SERVICES
- --------------
CARMODY & TORRANCE DR NA 40
DAY BERRY & HOWARD NA 634
NEWMAN BOUKNIGHT & EDGAR PC NA 181
NEWMAN & HOLTZINGER PC NA 62
RATH YOUNG PIGNATELLI & OYER PA NA 84
WINSTON & STRAWN NA 406
MISCELLANEOUS (11 PAYEES) NA 39
-----------
TOTAL LEGAL SERVICES 1,446
===========
OTHER SERVICES
- --------------
A R JOSEPH ASSOCIATES NA 73
A & C ENERCOM NA 63
ACCELERATED COLLECTION SYSTEMS INC NA 36
ACCOUNTING FUTURES INCORPORATED NA 47
ACDS GRAPHIC SYSTEMS INC NA 36
ADAPTIVE SYSTEMS INC NA 82
ADEPT INCORPORATED NA 444
ADVANCED COMPUTING TECHNIQUES INC NA 41
ALLIED PRINTING SERVICES INCORPORATED NA 266
ALTRAN CORPORATION NA 1,189
AM COMPUTER PRODUCTS INCORPORATED NA 73
AMERICAN ADJUSTMENT BUREAU INCORPORATED NA 36
AMERICAN DESIGN COMPANY INCORPORATED NA 31
AMERICAN VAN & STORAGE SYSTEMS INC NA 50
AMERITECH INFORMATION SYSTEMS NA 53
AMODIO MOVING INCORPORATED NA 197
ANDERSEN CONSULTING NA 746
ANDREA HUNT PHD PC NA 66
APEX DATA SERVICES INCORPORATED NA 355
ARTHUR ANDERSEN & COMPANY NA 188
ASSOCIATED CREDIT SERVICES INCORPORATED NA 51
ATI CONSULTING NA 55
ATLAS CONSULTING GROUP INCORPORATED NA 387
AT&T NA 49
BALF INCORPORATED NA 39
BARAKAT & CHAMBERLIN INCORPORATED NA 121
BARRIEAU MOVING & STORAGE NA 30
BELL ATLANTIC BUSINESS SYSTEMS SERVICES NA 164
BENCHMARK TECHNICAL SERVICES INC NA 30
C THAYER BROWNE NA 142
C W COSTELLO & ASSOCIATES INCORPORATED NA 277
CANDLEWOOD LAKE AUTHORITY NA 26
CANTEEN INTERSTATE UNITED CORPORATION NA 54
CARROLL TRAVEL NA 52
CDI CORPORATION NA 60
CHARLES S ONDASH NA 61
CISCO SYSTEMS INCORPORATED NA 57
COMMONWEALTH RELOCATION SERVICES INC NA 92
CONNECTICUT ASSOC FOR HUMAN SERVICES NA 37
CONNECTICUT DEVELOPMENT AUTHORITY NA 60
CONNECTICUT HOUSING INVESTMENT FUND INC NA 1,656
CONSERVATION LAW FOUNDATION NA 202
COOPER MANAGEMENT INSTITUTE NA 35
CORE CORPORATION NA 48
CRANE ALOYCO INCORPORATED NA 37
CREDIT BUREAU COLLECTIONS NA 132
CUMMINGS & LOCKWOOD NA 138
DATA MAIL INCORPORATED NA 164
DIERINGER RESEARCH ASSOCIATES INC NA 33
DIGITAL EQUIPMENT CORPORTION NA 367
DIVERSITAS NEW YORK INC NA 41
DR ANDREW J HSI PE NA 29
DRI MCGRAW HILL NA 104
DUN & BRADSTREET SOFTWARE NA 43
DUNBAR ARMORED SECURITY INC NA 88
EASTON CONSULTANTS INCORPORATED NA 27
EDISON ELECTRIC INSTITUTE NA 43
ELECTRICAL MECHANICAL CONTRACTORS INC NA 56
EMPLOYMENT LEARNING INNOVATIONS INC NA 89
ERNST & YOUNG LLP NA 4,741
ESCA CORPORATION NA 285
ETC DATA SERVICES INCORPORATED NA 49
ETP INCORPORATED NA 61
FINANCIAL COLLECTION AGENCIES NA 189
FRENCH KING MOTOR INN INC NA 52
GARTNER GROUP INCORPORATED NA 208
GERALD R BROWNE NA 94
HADDON JACKSON ASSOCIATES NA 33
HALLIBURTON NUS CORPORATION NA 41
HARMON PERSONNEL SERVICES INCORPORATED NA 66
HARRIS CONTROLS AND COMPOSITION DIV NA 88
HARRY RICH ASSOCIATES INCORPORATED NA 41
HARTFORD GRADUATE CENTER NA 37
HAY MANAGEMENT CONSULTANTS NA 785
HBRS INCORPORATED NA 53
HEALTH RESOURCES NA 123
HEWITT ASSOCIATES NA 92
HOFFMANN RESEARCH ASSOCIATES NA 106
HOLTEC INTERNATIONAL NA 115
HOLYOKE GAS & ELECTRIC DEPARTMENT NA 224
HOLYOKE WATER POWER COMPANY A 86
HSB RELIABILITY TECHNOLOGIES NA 142
IAN A MITCHELL MD NA 39
INSTITUTE OF NUCLEAR POWER OPERATIONS NA 182
INTERNATIONAL BUSINESS MACHINES CORP NA 574
ISSC NA 50
JACKSON VOICE DATA INCORPORATED NA 46
JAMES G PARTLOW NA 50
JAMES W SEWALL COMPANY NA 36
JEFFREY R PRATT NA 61
JOBPRO NA 300
JOHN C GUSTAVSEN NA 54
K RAN DESIGN INC NA 180
KEANE INCORPORATED NA 105
KELLER AND HECKMAN NA 32
KELLY SERVICES INCORPORATED NA 921
KEMPER MANAGEMENT SERVICES INC NA 305
LCG CONSULTING NA 29
LEADERSHIP AND LEARNING INCORPORATED NA 58
LENCO COMPUTER CONSULTING NA 38
LIBERTY TECHNICAL SERVICES INC NA 50
LIBERTY TECHNOLOGY CENTER NA 308
LITTLE JOHNS MOVERS INCORPORATED NA 75
LIUSKI INTERNATIONAL INCORPORATED NA 43
MANAGEMENT ANALYSIS COMPANY NA 192
MANAGEMENT ASSOCIATED RESULTS CO INC NA 188
MANPOWER INCORPORATED NA 284
MARQUARDT & ROCHE INC NA 293
MARYANNE MURACH NA 31
MASSACHUSETTS INSTITUTE OF TECHNOLOGY NA 50
MCKINSEY & COMPANY INCORPORATED NA 1,705
MEASUREMENT DIMENSIONS INCORPORATED NA 66
MEMOREX TELEX NA 63
METZLER AND ASSOCIATES NA 31
MILLER JOHNSON INCORPORATED NA 27
MILLER TELECOM SERVICES INCORPORATED NA 53
MILLETTE ASSOCIATES PC NA 73
MORROW & COMPANY NA 156
MOTION INCORPORATED NA 83
MTW CORPORATION NA 67
NATIONAL EDUCATION TRAINING GROUP NA 99
NES INC NA 399
NEW ENGLAND MECHANICAL SERVICES INC NA 58
NEW ENGLAND POWER SERVICE COMPANY NA 193
NEW ENGLAND WEATHER SERVICE INCORPORATED NA 33
NORTH ATLANTIC ENERGY SERVICE CORP AGENT A 142
NRT TECHNICAL INCORPORATED NA 683
NUCLEAR ENERGY SERVICES NA 48
NUCLEAR LOGISTICS INCORPORATED NA 173
NYNEX MERIDIAN SYSTEMS NA 364
OGDEN ALLIED SECURITY SERVICES NA 414
OPTICOM INCORPORATED NA 215
OUTPUT TECHNOLOGIES INCORPORATED NA 105
PACIFIC SCIENCE & TECHNOLOGY INC NA 138
PAS EXPEDITING SERVICES NA 52
PHILADELPHIA ELECTRIC COMPANY NA 86
PILOT SOFTWARE INCORPORATED NA 108
PINNACLE LIMITED NA 339
POWER TECHNOLOGIES INCORPORATED NA 50
PREMIER DATA SERVICES INCORPORATED NA 170
PRO FITNESS NA 36
QUALITY APPLICATIONS INCORPORATED NA 244
QUALITY SYSTEMS INCORPORATED NA 62
RAY & ASSOCIATES NA 210
RAYTHEON ENGINEERS & CONSTRUCTORS INC NA 120
RELIABLE VENDING COMPANY NA 65
RENE L COTE SONS INCORPORATED NA 28
RESOURCE GROUP LIMITED NA 38
RLW ANALYTICS INCORPORATED NA 596
ROBERT W VON ACHEN NA 53
ROGER E KOONTZ NA 29
SARATOGA SYSTEMS INC NA 38
SARTREX NA 49
SHIPMANS FIRE EQUIPMENT COMPANY INC NA 72
SMITHKLINE BEECHAM LABORATORIES NA 28
SOFTAIDE SERVICES NA 138
SOFTWARE AG NA 28
SOUTHERN NEW ENGLAND TELEPHONE COMPANY NA 30
SOUTHERN TECHNICAL SERVICES INCORPORATED NA 31
SPENCER STUART & ASSOCIATES NA 59
STEVEN B BUTTNER NA 45
STOCKHOLDER SYSTEMS INCORPORATED NA 44
STRUCTURAL INTEGRITY ASSOCIATES INC NA 25
STRUCTURAL MECHANICS ASSOCIATES NA 57
SUN MICROSYSTEMS NA 28
SYBASE INCORPORATED NA 38
SYNERGIC RESOURCES CORPORATION NA 35
TAB PRODUCTS COMPANY INCORPORATED NA 62
TELELEAD INCORPORATED NA 63
THE FLEMING GROUP NA 105
THE INDUS GROUP INCORPORATED NA 458
THE NICHOLAS GROUP NA 163
THE SCHAEFER GROUP NA 35
THE UNIMAR GROUP LIMITED NA 36
THE WAVERLY PRINTING COMPANY NA 51
THE WHITEMAN RESOURCE NA 68
THE WYATT COMPANY NA 102
THOMAS E MURLEY NA 63
TONE SOFTWARE CORPORATION NA 34
TOWERS PERRIN NA 462
TRACE SERVICES INCORPORATED NA 230
UNITED ENERGY SERVICES CORPORATION NA 37
UNITED WAY OF CONNECTICUT NA 48
UNIVERSITY OF CONNECTICUT NA 32
UPDIKE KELLY & SPELLACY PC NA 26
UTILITY MANAGEMENT SERVICES GROUP INC NA 29
VIASOFT NA 131
WILLIAM M MERCER INCORPORATED NA 60
WINTHROP LAWRENCE CORPORATION NA 36
WOODS ELECTRICAL COMPANY INCORPORATED NA 222
WORK OPPORTUNITY CENTER INC NA 78
XENERGY INC NA 417
YANKEE ATOMIC ELECTRIC COMPANY NA 924
MISCELLANEOUS (947 PAYEES) 3,568
-----------
TOTAL OTHER SERVICES 37,492
===========
GRAND TOTAL OUTSIDE SERVICES 45,848
===========
</TABLE>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
EMPLOYEE PENSIONS AND BENEFITS
ACCOUNT 926
INSTRUCTIONS: Provide a listing of each pension plan and benefit
program provided by the service company. Such
listing should be limited to $25,000.
- ------------------------------------------------------------------------
DESCRIPTION AMOUNT
- ------------------------------------------------------------------------
(Thousands of Dollars)
Pension Plan ($1,468)
Supplemental Retirement and Savings Plan 5,473
Group Life, Long-term Disability, Hospital
and Medical Insurance Expenses 12,773
Post retirement medical benefit - FAS 106 8,670
Early retirement program 1,307
Educational Activities 382
System Newspaper 96
Other Employee Benefits Expenses 280
---------
TOTAL $27,513
=========
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
GENERAL ADVERTISING EXPENSES
ACCOUNT 930.1
INSTRUCTIONS: Provide a listing of the amount included in Account 930.1,
"General Advertising Expenses," classifying the items
according to the nature of the advertising and as
defined in the account definition. If a particular class
includes an amount in excess of $3,000 applicable to a
single payee, show separately the name of the payee and
the aggregate amount applicable thereto.
- ------------------------------------------------------------------------------
DESCRIPTION NAME OF PAYEE AMOUNT
- ------------------------------------------------------------------------------
(Thousands of Dollars)
-
---------
TOTAL $ -
=========
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
MISCELLANEOUS GENERAL EXPENSES
ACCOUNT 930
INSTRUCTIONS: Provide a listing of the amount included in Account 930,
"Miscellaneous General Expenses," classifying such expenses
according to their nature. Payments and expenses permitted
by Section 321(b)(2) of the Federal Election Campaign Act,
as amended by Public Law 94-283 in 1976 (2 U.S.C. Section
441(b)(2)) shall be separately classified.
DESCRIPTION AMOUNT
- -----------------------------------------------------------------------------------
(Thousand of
Dollars)
<S> <C>
Shareholder reports and meetings $ 550
Trustee registration & transfer agent fee & expense 101
Economic development 2,436
Strategic planning 1,807
Recruitment expenses 288
Employee development expenses 372
New York Stock Exchange - annual listing fee 66
Northeast Power Coordinating Council 125
Other miscellaneous expenses (74 items) 499
------------
TOTAL $ 6,244
============
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
RENTS
ACCOUNT 931
INSTRUCTIONS: Provide a listing of the amount included in Account 931,
"Rents," classifying such expenses by major groupings of
property, as defined in the account definition of the
Uniform System of Accounts.
- ------------------------------------------------------------------------
TYPE OF PROPERTY AMOUNT
- ------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C>
Buildings/office space 9,031
Computer/Office equipment 16,416
Vehicles 14
---------
TOTAL 25,461
=========
</TABLE>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
TAXES OTHER THAN INCOME TAXES
ACCOUNT 408
INSTRUCTIONS: Provide an analysis of Account 408, "Taxes Other Than
Income Taxes." Separate the analysis into two groups:
(1)Other than U.S. Government taxes, and (2) U.S.
Government taxes. Specify each of the various kinds of
taxes and show the amounts thereof. Provide a subtotal
for each class of tax.
- -------------------------------------------------------------------------
KIND OF TAX AMOUNT
- -------------------------------------------------------------------------
(Thousands of Dollars)
(1) Other Than U.S. Government Taxes:
Connecticut Unemployment $480
Connecticut Sales Tax 0
Massachusetts Unemployment (201)
Massachusetts Universal Health Tax 2
Local property 599
---------
Sub-Total 880
---------
(2) U.S. Government Taxes:
Federal Insurance Contribution Act 7,720
Medicare Tax 2,125
Federal Unemployment 146
Federal Excise 4
---------
Sub-Total 9,995
---------
TOTAL $10,875
=========
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
DONATIONS
ACCOUNT 426.1
INSTRUCTIONS: Provide a listing of the amount included in Account 426.1, "Donations,"
classifying such expenses by its purpose. The aggregate number and amount
of all items of less than $3,000 may be shown in lieu of details.
- --------------------------------------------------------------------------------------------
NAME OF RECIPIENT PURPOSE OF DONATION AMOUNT
- --------------------------------------------------------------------------------------------
(Thousands
of Dollars)
<S> <S> <C>
UNIVERSITY OF CONNECTICUT CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 69
RENSSELAER POLYTECHNIC INSTITUTE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 28
MASSACHUSETTS INSTITUTE OF
TECHNOLOGY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 24
UNIVERSITY OF HARTFORD CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 23
SAINT JOSEPH COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 19
INTERNATIONAL SKATING CENTER OF CT CHARITABLE CONTRIBUTION 10
LONG RIVERS COUNCIL CHARITABLE CONTRIBUTION 10
UNIVERSITY OF MASSACHUSETTS CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 8
UNIVERSITY OF MASSACHUSETTS LOWELL CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 8
NORTHEASTERN UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 8
URBAN LEAGUE OF GREATER
HARTFORD INC CHARITABLE CONTRIBUTION 7
WORCESTER POLYTECHNIC INSTITUTE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 7
WESLEYAN UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 6
TRINITY COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 6
HARTFORD GRADUATE CENTER CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 6
CONNECTICUT VALLEY GIRL
SCOUT COUNCIL CHARITABLE CONTRIBUTION 5
UNIVERSITY OF CONNECTICUT
FOUNDATION CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 5
NORWALK COMMUNITY TECHNICAL CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 5
CLARKSON UNIVERSITY CHARITABLE CONTRIBUTION 4
BARKER SPECIALTY CHARITABLE CONTRIBUTION 4
CENTRAL CONNECTICUT STATE
UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 4
MASSAOH PLANTATION CHARITABLE CONTRIBUTION 4
CAPITAL COMMUNITY TECHNICAL COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 4
NAUGATUCK VALLEY COMMUNITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 4
BAY PATH COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 4
NEW ENGLAND COUNCIL INCORPORATED CHARITABLE CONTRIBUTION 4
SPRINGFIELD COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
WENTWORTH INSTITUTE OF TECHNOLOGY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
YALE UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
QUINNIPIAC COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
MIRACLES V CHARITABLE CONTRIBUTION 3
HARTFORD COLLEGE FOR WOMEN CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
MOUNT HOLYOKE COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
MISCELLANEOUS (287 PAYEES) CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 133
-----------
TOTAL 440
===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
OTHER DEDUCTIONS
ACCOUNT 426.5
INSTRUCTIONS: Provide a listing of the amount included in Account 426.5,
"Other Deductions," classifying such expenses according
to their nature.
- --------------------------------------------------------------------------------
DESCRIPTION NAME OF PAYEE AMOUNT
- --------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <S> <C>
Executive incentive
compensation plan Various NUSCO Officers 2,514
Legislative services Updike Kelly & Spellacy, PC 89
Promoting public awareness
of energy issues U. S. Council on Energy Awareness 158
Nuclear Energy Institute 471
American Nuclear Energy Council 93
Edison Energy Institute 134
Accruals/(surrenders), net for
life insurance of officers and
employees where the company is
the beneficiary 101
Miscellaneous (162 items) 217
--------
TOTAL 3,777
========
</TABLE>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1994
SCHEDULE XVIII
NOTES TO STATEMENTS OF INCOME
INSTRUCTIONS: The space below is provided for important notes regarding the
statement of income or any account thereof. Furnish
particulars as to any significant increases in services rendered
or expenses incurred during the year. Notes relating to
financial statements shown elsewhere in this report may be
indicated here by reference.
See Notes to Financial Statements on pages 19 through 19F.
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
ORGANIZATION CHART (AS OF DECEMBER 31, 1994)
President and Chief Executive Officer -- Chairman
- President - Energy Resources Group and Chief Financial Officer
- Executive Vice President - Nuclear
- Vice President - Fossil and Hydro Engineering and
Operations
- Vice President and Controller
- Vice President and Treasurer
- Vice President - Wholesale Marketing
- Vice President - Information Resources
- President - Retail Business Group
- Vice President - Transmission and Distribution
- Vice President - Retail Marketing
- Director - Customer Service
- Senior Vice President - Human Resources and Administrative
Services
- Assistant Vice President - Human Resources
- Vice President - Purchasing and General Services
- Director - Internal Audit and Security
- Senior Vice President - Governmental Affairs
- Vice President - Secretary and General Counsel
- Vice President - Corporate and Environmental Affairs
NORTHEAST UTILITIES SERVICE COMPANY
-----------------------------------
METHODS OF ALLOCATION
---------------------
For the year ended December 31, 1994
------------------------------------
1) Composite (Operating Revenues, Customers, Employees, Payroll and
Assets)
2) Cogeneration Units
3) Conservation and Load Management Programs and Expenditures
4) Peak Load
5) Fuel Purchased
6) Gross Plant Assets
7) Invoices Processed
8) Generation
9) Materials and Supplies
10) Megawatt Sales
11) Direct Charged Costs
12) Payroll
13) Operating Revenues
14) Assets
15) Union Employees
16) Vehicle Lease Costs
17) Customers
18) Vehicles
19) Nuclear Units
20) Borrowing Limits
21) Employees
NOTE: Allocations may include a combination of the above factors.
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED
The following annual statement was supplied to each associate company in
support of the amount of compensation for use of capital billed during 1994:
In accordance with Instruction 01-12 of the Securities and
Exchange Commission's Uniform System of Accounts for Mutual
Service Companies and Subsidiary Service Companies, Northeast
Utilities Service Company submits the following information on
the billing of interest on borrowed funds to associated companies
for the year 1994:
(A) Amount of Interest Billed to (See Note)
(B) The basis for billing of interest to the associated
companies is payroll billed to the associated companies
from the service company.
NOTE: For the associate companies and amounts, see "Analysis of Billing -
Associate Companies" on page 21. During 1994 there was no interest
billed to Associated Companies.
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
SIGNATURE CLAUSE
Pursuant to the requirements of the Public Utility Holding Company Act of 1935
and the rules and regulations of the Securities and Exchange Commission issued
thereunder, the undersigned company has duly caused this report to be signed on
its behalf by the undersigned officer thereunto duly authorized.
NORTHEAST UTILITIES SERVICE COMPANY
-----------------------------------
(Name of Reporting Company)
By: /s/ John W. Noyes
-----------------------------------
(Signature of Signing Officer)
John W. Noyes - Vice President and Controller
---------------------------------------------
(Printed Name and Title of Signing Officer)
Date: April 26, 1995
--------------------
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<ARTICLE>OPUR2
<CIK>0000205716
<NAME>NORTHEAST UTILITIES SERVICE COMPANY
<MULTIPLIER>1,000
<S> <C> <C>
<PERIOD-TYPE> YEAR YEAR
<FISCAL-YEAR-END> DEC-31-1994 DEC-31-1993
<PERIOD-END> DEC-31-1994 DEC-31-1993
<BOOK-VALUE> PER-BOOK PER-BOOK
<NET-SERVICE-COMPANY-PROPERTY> 29,143 0
<TOTAL-INVESTMENTS> 949 0
<TOTAL-CURRENT-ASSETS> 184,094 0
<TOTAL-DEFERRED-DEBITS> 19,404 0
<OTHER-ASSETS-AND-DEBITS> 0 0
<TOTAL-ASSETS-AND-DEBITS> 233,590 0
<TOTAL-PROPRIETARY-CAPITAL> 1 0
<TOTAL-LONG-TERM-DEBT> 0 0
<NOTES-PAYABLE> 0 0
<NOTES-PAYABLE-ASSOCIATE-COMP> 121,725 0
<OTHER-CURR-AND-ACCRUED-LIAB> 94,999 0
<TOTAL-DEFERRED-CREDITS> 16,865 0
<DEFERRED-INCOME-TAX> 0 0
<TOT-LIABIL-AND-PROPRIET-CAP> 233,590 0
<SERVICES-ASSOCIATE-COMPANIES> 252,805 0
<SERVICES-NON-ASSOCIATE-COMP> 46,277 0
<MISC-INCOME-OR-LOSS> 20 0
<TOTAL-INCOME> 299,102 0
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<EMPLOYEE-PENSION-AND-BENEFIT> 27,513 0
<OTHER-EXPENSES> 129,552 0
<TOTAL-EXPENSES> 299,102 0
<NET-INCOME> 0 0
<TOTAL-EXPENSES-DIRECT-COST> 276,617 0
<TOTAL-EXPENSES-INDIRECT-COST> 22,485 0
<TOT-EXP-DIRECT-AND-INDIRECT> 299,102 0
<PERSONNEL-END-OF-YEAR> 2,400 0
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