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Previous: RANGER INDUSTRIES INC, PREN14A, 1997-03-27 |
Next: COLUMBUS SOUTHERN POWER CO /OH/, 10-K405, 1997-03-27 |
<PAGE>
CONESVILLE COAL PREPARATION COMPANY
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 23463
FOR THE QUARTER ENDED DECEMBER 31, 1996
CONTENTS
Page
Statements of Income 1
Balance Sheet 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
<PAGE>
<TABLE>
CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF INCOME
BY MONTH,FOR THE QUARTER ENDED DECEMBER 31, 1996
(UNAUDITED)
<CAPTION>
Three
Months
October November December Ended
1996 1996 1996 12/31/96
(in thousands)
<S> <C> <C> <C> <C>
OPERATING REVENUES - Services to Parent $730 $518 $947 $2,195
COST OF OPERATION 714 506 938 2,158
---- ---- ---- ------
OPERATING INCOME 16 12 9 37
NONOPERATING INCOME 1 - - 1
---- ---- ---- ------
INCOME BEFORE FEDERAL INCOME TAXES 17 12 9 38
FEDERAL INCOME TAXES 11 6 4 21
---- ---- ---- ------
NET INCOME $6 $6 $5 $17
==== ==== ==== ======
The common stock of the Company is wholly
owned by Columbus Southern Power Company.
</TABLE>
<PAGE>
<TABLE>
CONESVILLE COAL PREPARATION COMPANY
BALANCE SHEETS
BY MONTH-END, FOR THE QUARTER ENDED DECEMBER 31, 1996
(UNAUDITED)
<CAPTION>
October 31, November 30, December 31,
1996 1996 1996
(in thousands)
<S> <C> <C> <C>
ASSETS
MINING PLANT:
Mining Plant in Service $1,038 $1,038 $1,038
Accumulated Amortization 653 664 674
------ ------ ------
NET MINING PLANT 385 374 364
------ ------ ------
CURRENT ASSETS:
Cash and Cash Equivalents 85 30 19
Accounts Receivable -
General 3 3 3
Affiliated Companies 2,291 2,475 3,007
Materials and Supplies 905 859 908
Other 72 57 52
------ ------ ------
TOTAL CURRENT ASSETS 3,356 3,424 3,989
------ ------ ------
DEFERRED INCOME TAXES 687 690 683
------ ------ ------
REGULATORY ASSETS 244 241 231
------ ------ ------
DEFERRED CHARGES 11 7 28
------ ------ ------
TOTAL $4,683 $4,736 $5,295
====== ====== ======
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 738 744 750
------ ------ ------
TOTAL SHAREHOLDER'S EQUITY 1,238 1,244 1,250
------ ------ ------
OTHER NONCURRENT LIABILITIES 900 897 888
------ ------ ------
CURRENT LIABILITIES:
Accounts Payable:
General 149 152 444
Affiliated Companies 76 70 175
Accrued Rentals 318 607 896
Other 425 455 456
------ ------ ------
TOTAL CURRENT LIABILITIES 968 1,284 1,971
------ ------ ------
DEFERRED GAIN ON SALE OF PLANT 1,223 1,203 1,183
------ ------ ------
REGULATORY LIABILITIES 354 108 3
------ ------ ------
TOTAL $4,683 $4,736 $5,295
====== ====== ======
</TABLE>
<PAGE>
<TABLE>
CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF QUANTITIES OF COAL PROCESSED AND
CUSTOMER BILLINGS FOR COAL WASHING SERVICES
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1996
<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>
October 1996 201,554 20,925 180,629 $4.04 $730
November 1996 147,870 19,729 128,141 $4.04 $518
December 1996 194,523 26,373 168,150 $5.64 $947
* Jointly owned by Cincinnati Gas & Electric Company, Dayton Power & Light
Company and Columbus Southern Power Company, the parent of Conesville Coal
Preparation Company.
</TABLE>
<PAGE>
<TABLE>
CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF COST OF OPERATION
BY MONTH,FOR THE QUARTER ENDED DECEMBER 31, 1996
(UNAUDITED)
<CAPTION>
Three
Months
October November December Ended
1996 1996 1996 12/31/96
(in thousands)
<S> <C> <C> <C> <C>
Labor-UMW* $86 $72 $88 $246
Benefits-UMW* 60 61 45 166
Office Salaries and Benefits 87 73 79 239
Operating Materials 60 69 71 200
Maintenance - Materials and Services 22 44 40 106
Electricity 27 29 103 159
Other Billed Service 25 56 194 275
Rentals 332 329 327 988
Amortization of Deferred Gain
on Sale of Plant (20) (20) (20) (60)
Depreciation 2 3 3 8
Cleaning Cost Normalization** (16) (246) (108) (370)
Other 49 36 116 201
---- ---- ---- ------
Total $714 $506 $938 $2,158
==== ==== ==== ======
* 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.
</TABLE>
<PAGE>
<TABLE>
COLUMBUS SOUTHERN POWER COMPANY
PRICE PER TON OF COAL DELIVERIES
BY MONTH,FOR THE QUARTER ENDED DECEMBER 31, 1996
<CAPTION>
October November December
1996 1996 1996
<S> <C> <C> <C>
Clean Coal Deliveries from Conesville Coal
Preparation Plant (a) $41.00 (b) $41.75 (b) $42.83 (b)
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.
(b) Average price per ton.
</TABLE>
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