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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 SEPTEMBER 30, 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 SEPTEMBER 30, 1997
(UNAUDITED)
<CAPTION>
Three
Months
Month Ended Ended
July 31, August 31, September 30, September 30,
1997 1997 1997 1997
(in thousands)
<S> <C> <C> <C> <C>
OPERATING REVENUES -
Services to Parent . . . $430 $597 $653 $1,680
COST OF OPERATION. . . . . 441 587 643 1,671
OPERATING INCOME (LOSS). . (11) 10 10 9
NONOPERATING INCOME. . . . 4 - - 4
INCOME (LOSS) BEFORE
FEDERAL INCOME TAXES . . (7) 10 10 13
FEDERAL INCOME TAX
EXPENSE (CREDIT). . . . . (13) 4 4 (5)
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 SEPTEMBER 30, 1997
(UNAUDITED)
<CAPTION>
July 31, August 31, September 30,
1997 1997 1997
(in thousands)
<S> <C> <C> <C>
ASSETS
MINING PLANT:
Mining Plant in Service . . . . . . . . . $ 781 $ 781 $ 770
Accumulated Amortization. . . . . . . . . 449 457 453
NET MINING PLANT . . . . . . . . . 332 324 317
OTHER PROPERTY AND INVESTMENTS. . . . . . . 109 102 96
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . 43 235 200
Accounts Receivable:
General . . . . . . . . . . . . . . . . 7 15 20
Affiliated Companies. . . . . . . . . . 2,839 2,830 3,016
Materials and Supplies. . . . . . . . . . 910 876 876
Other . . . . . . . . . . . . . . . . . . 28 25 23
TOTAL CURRENT ASSETS . . . . . . . 3,827 3,981 4,135
DEFERRED INCOME TAXES . . . . . . . . . . . 722 696 698
REGULATORY ASSETS . . . . . . . . . . . . . 250 247 247
DEFERRED CHARGES. . . . . . . . . . . . . . 42 18 48
TOTAL. . . . . . . . . . . . . . $5,282 $5,368 $5,541
CAPITALIZATION AND LIABILITIES
SHAREOWNER'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 . . . . . . . . . . . . 791 797 803
TOTAL SHAREHOLDER'S EQUITY . . . . 1,291 1,297 1,303
OTHER NONCURRENT LIABILITIES. . . . . . . . 1,146 1,104 1,117
CURRENT LIABILITIES:
Accounts Payable:
General . . . . . . . . . . . . . . . . 143 102 145
Affiliated Companies. . . . . . . . . . 136 165 196
Accrued Rentals . . . . . . . . . . . . . 316 631 894
Other . . . . . . . . . . . . . . . . . . 326 344 354
TOTAL CURRENT LIABILITIES. . . . . 921 1,242 1,589
DEFERRED GAIN ON SALE OF PLANT. . . . . . . 1,045 1,026 1,006
REGULATORY LIABILITIES. . . . . . . . . . . 879 699 526
TOTAL. . . . . . . . . . . . . . $5,282 $5,368 $5,541
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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 SEPTEMBER 30, 1997
<CAPTION>
Services Rendered to
Columbus Southern Raw Clean
Power Company's Coal Coal
Conesville Plant* Input Rejects Output Unit Price Amount
(Month/Year) (tons) (tons) (tons) (per ton) (000)
<S> <C> <C> <C> <C> <C>
July 1997. . . . . . . . . . 135,453 19,382 116,071 $3.70 $430
August 1997. . . . . . . . . 198,920 27,162 171,758 $3.48 $597
September 1997 . . . . . . . 216,367 28,863 187,504 $3.48 $653
* Jointly owned by Cincinnati Gas & Electric Company, Dayton Power & Light Company
and Columbus Southern Power Company, the parent of Conesville Coal Preparation
Company.
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CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF COST OF OPERATION
BY MONTH, FOR THE QUARTER ENDED SEPTEMBER 30, 1997
<CAPTION>
Three
Months
July August September Ended
1997 1997 1997 9/30/97
(in thousands)
<S> <C> <C> <C> <C>
Labor-UMW*. . . . . . . . . . . . . . . . .$ 57 $ 79 $ 81 $ 217
Benefits-UMW* . . . . . . . . . . . . . . . 39 25 41 105
Office Salaries and Benefits. . . . . . . . 86 61 96 243
Operating Materials . . . . . . . . . . . . 34 26 59 119
Maintenance - Materials and Services. . . . 42 57 66 165
Electricity . . . . . . . . . . . . . . . . 29 36 36 101
Other Billed Services . . . . . . . . . . . 24 130 85 239
Rentals . . . . . . . . . . . . . . . . . . 322 327 322 971
Amortization of Deferred Gain
on Sale of Plant. . . . . . . . . . . . . (20) (19) (20) (59)
Depreciation. . . . . . . . . . . . . . . . 2 3 2 7
Cleaning Cost Normalization** . . . . . . . (236) (180) (173) (589)
Other . . . . . . . . . . . . . . . . . . . 62 42 48 152
Total . . . . . . . . . . . . . .$ 441 $ 587 $ 643 $1,671
* 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 SEPTEMBER 30, 1997
<CAPTION>
July August September
1997 1997 1997
<S> <C> <C> <C>
Clean Coal Deliveries from Conesville Coal
Preparation Plant (a) . . . . . . . . . . . . . . $41.40 * $40.38 * $40.21 *
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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