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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, 1998
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, 1998
(UNAUDITED)
<CAPTION>
Three
Months
Month Ended Ended
January 31, February 28, March 31, March 31,
1998 1998 1998 1998
(in thousands)
<S> <C> <C> <C> <C>
OPERATING REVENUES -
Services to Parent . . . . . . . . $904 $873 $834 $2,611
COST OF OPERATION. . . . . . . . . . 893 863 826 2,582
OPERATING INCOME . . . . . . . . . . 11 10 8 29
NONOPERATING INCOME. . . . . . . . . - - 3 3
INCOME BEFORE FEDERAL INCOME TAXES . 11 10 11 32
FEDERAL INCOME TAXES . . . . . . . . 5 4 5 14
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, 1998
(UNAUDITED)
<CAPTION>
January 31, February 28, March 31,
1998 1998 1998
(in thousands)
<S> <C> <C> <C>
ASSETS
MINING PLANT:
Mining Plant in Service . . . . . . . . . . . . $ 785 $ 785 $ 824
Accumulated Amortization. . . . . . . . . . . . 483 490 495
NET MINING PLANT . . . . . . . . . . . . 302 295 329
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . . 50 76 15
Accounts Receivable:
General . . . . . . . . . . . . . . . . . . . 23 21 23
Affiliated Companies. . . . . . . . . . . . . 2,217 2,770 2,967
Materials and Supplies. . . . . . . . . . . . . 789 797 805
Other . . . . . . . . . . . . . . . . . . . . . 15 12 11
TOTAL CURRENT ASSETS . . . . . . . . . . 3,094 3,676 3,821
DEFERRED INCOME TAXES . . . . . . . . . . . . . . 724 737 744
REGULATORY ASSETS . . . . . . . . . . . . . . . . 294 185 181
DEFERRED CHARGES. . . . . . . . . . . . . . . . . 100 95 203
TOTAL. . . . . . . . . . . . . . . . . $4,514 $4,988 $5,278
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 . . . . . . . . . . . . . . . 826 832 838
TOTAL SHAREHOLDER'S EQUITY . . . . . . . 1,326 1,332 1,338
OTHER NONCURRENT LIABILITIES. . . . . . . . . . . 1,167 1,195 1,231
CURRENT LIABILITIES:
Accounts Payable:
General . . . . . . . . . . . . . . . . . . . 65 148 92
Affiliated Companies. . . . . . . . . . . . . 143 171 181
Accrued Rentals . . . . . . . . . . . . . . . . 342 605 894
Other . . . . . . . . . . . . . . . . . . . . . 488 454 469
TOTAL CURRENT LIABILITIES. . . . . . . . 1,038 1,378 1,636
DEFERRED GAIN ON SALE OF PLANT. . . . . . . . . . 927 907 888
REGULATORY LIABILITIES. . . . . . . . . . . . . . 56 176 185
TOTAL. . . . . . . . . . . . . . . . . $4,514 $4,988 $5,278
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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, 1998
<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 1998. . . . . . . . . . . 212,808 29,722 183,086 $4.94 $904
February 1998 . . . . . . . . . . 204,295 28,737 175,558 $4.97 $873
March 1998. . . . . . . . . . . . 190,020 25,847 164,173 $5.08 $834
* 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, 1998
<CAPTION>
Three
Months
January February March Ended
1998 1998 1998 3/31/98
(in thousands)
<S> <C> <C> <C> <C>
Labor-UMW*. . . . . . . . . . . . . . . . . . . . $112 $ 79 $ 93 $ 284
Benefits-UMW* . . . . . . . . . . . . . . . . . . 73 73 62 208
Office Salaries and Benefits. . . . . . . . . . . 87 101 99 287
Operating Materials . . . . . . . . . . . . . . . 65 40 23 128
Maintenance - Materials and Services. . . . . . . 66 31 92 189
Electricity . . . . . . . . . . . . . . . . . . . 62 54 59 175
Other Billed Services . . . . . . . . . . . . . . 11 15 26 52
Rentals . . . . . . . . . . . . . . . . . . . . . 322 326 322 970
Amortization of Deferred Gain on Sale of Plant. . (20) (20) (19) (59)
Depreciation. . . . . . . . . . . . . . . . . . . 2 2 3 7
Cleaning Cost Normalization** . . . . . . . . . . 56 119 9 184
Other . . . . . . . . . . . . . . . . . . . . . . 57 43 57 157
Total . . . . . . . . . . . . . . . . . $893 $863 $826 $2,582
* 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, 1998
<CAPTION>
January February March
1998 1998 1998
<S> <C> <C> <C>
Clean Coal Deliveries from Conesville Coal
Preparation Plant (a) . . . . . . . . . . . . . . . . . $41.05 * $42.06 * $44.65 *
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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