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CONESVILLE COAL PREPARATION COMPANY
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 23463
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1997
CONTENTS
Page
Statements of Income 1
Balance Sheets 2
Statements of Quantities of Coal Processed and
Customer Billings for Coal Washing Services 3
Statements of Cost of Operation 4
Price Per Ton of Coal Deliveries 5
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CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF INCOME
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1997
(UNAUDITED)
<CAPTION>
Three
Months
Month Ended Ended
January 31, February 28, March 31, March 31,
1997 1997 1997 1997
(in thousands)
<S> <C> <C> <C> <C>
OPERATING REVENUES -
Services to Parent . . . . . . . . $1,128 $1,030 $996 $3,154
COST OF OPERATION. . . . . . . . . . 1,118 1,017 984 3,119
OPERATING INCOME . . . . . . . . . . 10 13 12 35
NONOPERATING INCOME. . . . . . . . . 1 1 1 3
INCOME BEFORE FEDERAL INCOME TAXES . 11 14 13 38
FEDERAL INCOME TAXES . . . . . . . . 5 8 7 20
NET INCOME . . . . . . . . . . . . . $ 6 $ 6 $ 6 $ 18
The common stock of the Company is wholly
owned by Columbus Southern Power Company.
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CONESVILLE COAL PREPARATION COMPANY
BALANCE SHEETS
BY MONTH-END, FOR THE QUARTER ENDED MARCH 31, 1997
(UNAUDITED)
<CAPTION>
January 31, February 28, March 31,
1997 1997 1997
(in thousands)
<S> <C> <C> <C>
ASSETS
MINING PLANT:
Mining Plant in Service . . . . . . . . . . . . $1,038 $1,038 $1,038
Accumulated Amortization. . . . . . . . . . . . 684 694 705
NET MINING PLANT . . . . . . . . . . . . 354 344 333
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . . 69 33 143
Accounts Receivable:
General . . . . . . . . . . . . . . . . . . . 1 1 2
Affiliated Companies. . . . . . . . . . . . . 2,453 2,890 3,255
Materials and Supplies. . . . . . . . . . . . . 896 886 902
Other . . . . . . . . . . . . . . . . . . . . . 38 154 159
TOTAL CURRENT ASSETS . . . . . . . . . . 3,457 3,964 4,461
DEFERRED INCOME TAXES . . . . . . . . . . . . . . 692 696 699
REGULATORY ASSETS . . . . . . . . . . . . . . . . 228 224 221
DEFERRED CHARGES. . . . . . . . . . . . . . . . . 5 7 8
TOTAL. . . . . . . . . . . . . . . . . $4,736 $5,235 $5,722
CAPITALIZATION AND LIABILITIES
SHAREHOLDER'S EQUITY:
Common Stock - Par Value $1,000:
Authorized - 500 Shares
Outstanding - 100 Shares. . . . . . . . . . . $ 100 $ 100 $ 100
Paid-in Capital . . . . . . . . . . . . . . . . 400 400 400
Retained Earnings . . . . . . . . . . . . . . . 756 762 768
TOTAL SHAREHOLDER'S EQUITY . . . . . . . 1,256 1,262 1,268
OTHER NONCURRENT LIABILITIES. . . . . . . . . . . 1,056 1,070 1,079
CURRENT LIABILITIES:
Accounts Payable:
General . . . . . . . . . . . . . . . . . . . 224 214 143
Affiliated Companies. . . . . . . . . . . . . 125 206 183
Accrued Rentals . . . . . . . . . . . . . . . . 315 605 894
Other . . . . . . . . . . . . . . . . . . . . . 263 263 298
TOTAL CURRENT LIABILITIES. . . . . . . . 927 1,288 1,518
DEFERRED GAIN ON SALE OF PLANT. . . . . . . . . . 1,164 1,144 1,124
REGULATORY LIABILITIES. . . . . . . . . . . . . . 333 471 733
TOTAL. . . . . . . . . . . . . . . . . $4,736 $5,235 $5,722
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CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF QUANTITIES OF COAL PROCESSED AND
CUSTOMER BILLINGS FOR COAL WASHING SERVICES
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1997
<CAPTION>
Services Rendered to
Columbus Southern Raw Clean
Power Company's Coal Coal Average
Conesville Plant* Input Rejects Output Unit Price Amount
(Month/Year) (tons) (tons) (tons) (per ton) (000)
<S> <C> <C> <C> <C> <C>
January 1997. . . . . . . . . . . 260,448 33,534 226,914 $4.97 $1,128
February 1997 . . . . . . . . . . 236,229 29,314 206,915 $4.98 $1,030
March 1997. . . . . . . . . . . . 232,162 30,934 201,228 $4.95 $996
* Jointly owned by Cincinnati Gas & Electric Company, Dayton Power & Light Company and
Columbus Southern Power Company, the parent of Conesville Coal Preparation Company.
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CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF COST OF OPERATION
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1997
<CAPTION>
Three
Months
January February March Ended
1997 1997 1997 3/31/97
(in thousands)
<S> <C> <C> <C> <C>
Labor-UMW*. . . . . . . . . . . . . . . . . . . . $ 124 $ 84 $ 86 $ 294
Benefits-UMW* . . . . . . . . . . . . . . . . . . 92 76 61 229
Office Salaries and Benefits. . . . . . . . . . . 97 83 110 290
Operating Materials . . . . . . . . . . . . . . . 56 55 50 161
Maintenance - Materials and Services. . . . . . . 63 44 51 158
Electricity . . . . . . . . . . . . . . . . . . . 65 58 57 180
Other Billed Services . . . . . . . . . . . . . . (73) 102 26 55
Rentals . . . . . . . . . . . . . . . . . . . . . 325 325 320 970
Amortization of Deferred Gain on Sale of Plant. . (19) (20) (20) (59)
Depreciation. . . . . . . . . . . . . . . . . . . 2 2 3 7
Cleaning Cost Normalization** . . . . . . . . . . 333 138 262 733
Other . . . . . . . . . . . . . . . . . . . . . . 53 70 (22) 101
Total . . . . . . . . . . . . . . . . . $1,118 $1,017 $984 $3,119
* United Mine Workers of America.
** Represents the deferral/accrual required to establish revenue based on forecasted
results for the remainder of the year. The amount of cleaning cost normalization
is established on an "overall" company basis (i.e., not itemized) and is eliminated
by year-end.
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COLUMBUS SOUTHERN POWER COMPANY
PRICE PER TON OF COAL DELIVERIES
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1997
<CAPTION>
January February March
1997 1997 1997
<S> <C> <C> <C>
Clean Coal Deliveries from Conesville Coal
Preparation Plant (a) . . . . . . . . . . . . . . . . . $40.06 * $40.08 * $40.03 *
Notes: (a) Coal cleaned by Conesville Coal Preparation Plant and delivered to Columbus
Southern Power's Conesville Generating Plant. These deliveries of clean coal
will normally consist of coal cleaned from beginning inventory as well as
current month deliveries.
* Average price per ton.
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