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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 JUNE 30, 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 JUNE 30, 1998
(UNAUDITED)
<CAPTION>
Three
Months
Month Ended Ended
April 30, May 31, June 30, June 30,
1998 1998 1998 1998
(in thousands)
<S> <C> <C> <C> <C>
OPERATING REVENUES -
Services to Parent . . . . . . . $650 $761 $832 $2,243
COST OF OPERATION. . . . . . . . . 640 792 819 2,251
OPERATING INCOME (LOSS). . . . . . 10 (31) 13 (8)
NONOPERATING INCOME (LOSS) . . . . - 41 (3) 38
INCOME BEFORE FEDERAL INCOME TAXES 10 10 10 30
FEDERAL INCOME TAXES . . . . . . . 5 4 4 13
NET INCOME . . . . . . . . . . . . $ 5 $ 6 $ 6 $ 17
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 JUNE 30, 1998
(UNAUDITED)
<CAPTION>
April 30, May 31, June 30,
1998 1998 1998
(in thousands)
<S> <C> <C> <C>
ASSETS
MINING PLANT:
Mining Plant in Service . . . . . . . . . . . $ 825 $ 825 $ 825
Accumulated Amortization. . . . . . . . . . . 503 512 520
NET MINING PLANT . . . . . . . . . . . 322 313 305
OTHER PROPERTY AND INVESTMENTS. . . . . . . . . 160 153 146
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . 94 36 13
Accounts Receivable:
General . . . . . . . . . . . . . . . . . . 24 2 5
Affiliated Companies. . . . . . . . . . . . 2,186 2,785 3,114
Materials and Supplies. . . . . . . . . . . . 779 786 813
Other . . . . . . . . . . . . . . . . . . . . 9 7 5
TOTAL CURRENT ASSETS . . . . . . . . . 3,092 3,616 3,950
DEFERRED INCOME TAXES . . . . . . . . . . . . . 751 757 765
REGULATORY ASSETS . . . . . . . . . . . . . . . 177 174 170
DEFERRED CHARGES. . . . . . . . . . . . . . . . 28 33 33
TOTAL. . . . . . . . . . . . . . . . $4,530 $5,046 $5,369
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 . . . . . . . . . . . . . . 843 849 855
TOTAL SHAREHOLDER'S EQUITY . . . . . . 1,343 1,349 1,355
OTHER NONCURRENT LIABILITIES. . . . . . . . . . 1,244 1,256 1,270
CURRENT LIABILITIES:
Accounts Payable:
General . . . . . . . . . . . . . . . . . . 83 94 98
Affiliated Companies. . . . . . . . . . . . 119 211 154
Accrued Rentals . . . . . . . . . . . . . . . 318 601 890
Other . . . . . . . . . . . . . . . . . . . . 466 498 506
TOTAL CURRENT LIABILITIES. . . . . . . 986 1,404 1,648
DEFERRED GAIN ON SALE OF PLANT. . . . . . . . . 868 848 828
REGULATORY LIABILITIES. . . . . . . . . . . . . 89 189 268
TOTAL. . . . . . . . . . . . . . . . $4,530 $5,046 $5,369
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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 JUNE 30, 1998
<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>
April 1998. . . . . . . . . . 150,313 21,565 128,748 $5.05 $650
May 1998. . . . . . . . . . . 185,366 26,147 159,219 $4.78 $761
June 1998 . . . . . . . . . . 207,037 29,517 177,520 $4.69 $832
* 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 JUNE 30, 1998
<CAPTION>
Three
Months
April May June Ended
1998 1998 1998 6/30/98
(in thousands)
<S> <C> <C> <C> <C>
Labor-UMW*. . . . . . . . . . . . . . . . . . $ 74 $ 78 $ 86 $ 238
Benefits-UMW* . . . . . . . . . . . . . . . . 62 63 73 198
Office Salaries and Benefits. . . . . . . . . 83 82 86 251
Operating Materials . . . . . . . . . . . . . 54 23 46 123
Maintenance - Materials and Services. . . . . 45 20 30 95
Electricity . . . . . . . . . . . . . . . . . 36 37 41 114
Other Billed Services . . . . . . . . . . . . 24 46 14 84
Rent. . . . . . . . . . . . . . . . . . . . . 323 307 321 951
Amortization of Deferred Gain on
Sale of Plant . . . . . . . . . . . . . . . (20) (20) (20) (60)
Depreciation. . . . . . . . . . . . . . . . . 3 2 2 7
Cleaning Cost Normalization** . . . . . . . . (96) 100 79 83
Other . . . . . . . . . . . . . . . . . . . . 52 54 61 167
Total . . . . . . . . . . . . . . . $640 $792 $819 $2,251
* 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 JUNE 30, 1998
<CAPTION>
April May June
1998 1998 1998
<S> <C> <C> <C>
Clean Coal Deliveries from Conesville Coal
Preparation Plant (a) . . . . . . . . . . . . . . . . $45.17 * $43.38 * $42.60 *
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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