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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, 1999
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, 1999
(UNAUDITED)
<CAPTION>
Three
Months
Month Ended Ended
July 31, August 31, September 30, September 30,
1999 1999 1999 1999
(in thousands)
<S> <C> <C> <C> <C>
OPERATING REVENUES -
Services to Parent . . . $578 $1,135 $975 $2,688
COST OF OPERATION. . . . . 564 1,121 962 2,647
OPERATING INCOME . . . . . 14 14 13 41
NONOPERATING INCOME. . . . 2 - - 2
INCOME BEFORE FEDERAL
INCOME TAXES . . . . . . 16 14 13 43
FEDERAL INCOME TAXES . . . 10 8 8 26
NET INCOME . . . . . . . . $ 6 $ 6 $ 5 $ 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 SEPTEMBER 30, 1999
(UNAUDITED)
<CAPTION>
July 31, August 31, September 30,
1999 1999 1999
(in thousands)
<S> <C> <C> <C>
ASSETS
MINING PLANT:
Mining Plant in Service . . . . . . . . . $1,619 $1,619 $2,190
Accumulated Amortization. . . . . . . . . 390 430 501
NET MINING PLANT . . . . . . . . . 1,229 1,189 1,689
OTHER PROPERTY AND INVESTMENTS. . . . . . . 844 838 873
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . 34 119 13
Accounts Receivable:
General . . . . . . . . . . . . . . . . 3 3 3
Affiliated Companies. . . . . . . . . . 484 633 1,317
Materials and Supplies. . . . . . . . . . 831 858 857
Other . . . . . . . . . . . . . . . . . . - 12 11
TOTAL CURRENT ASSETS . . . . . . . 1,352 1,625 2,201
DEFERRED INCOME TAXES . . . . . . . . . . . 786 857 755
REGULATORY ASSETS . . . . . . . . . . . . . 259 255 251
DEFERRED CHARGES. . . . . . . . . . . . . . 917 235 153
TOTAL. . . . . . . . . . . . . . $5,387 $4,999 $5,922
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 . . . . . . . . . . . . 931 937 942
TOTAL SHAREHOLDER'S EQUITY . . . . 1,431 1,437 1,442
OTHER NONCURRENT LIABILITIES. . . . . . . . 1,604 1,521 1,884
CURRENT LIABILITIES:
Accounts Payable:
General . . . . . . . . . . . . . . . . 149 180 127
Affiliated Companies. . . . . . . . . . 459 141 515
Accrued Rentals . . . . . . . . . . . . . 362 581 867
Other . . . . . . . . . . . . . . . . . . 470 587 555
TOTAL CURRENT LIABILITIES. . . . . 1,440 1,489 2,064
DEFERRED GAIN ON SALE OF PLANT. . . . . . . 572 552 532
REGULATORY LIABILITIES. . . . . . . . . . . 340 - -
TOTAL. . . . . . . . . . . . . . $5,387 $4,999 $5,922
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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, 1999
<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 1999. . . . . . . . . . 122,227 11,594 110,633 $5.23 $578
August 1999. . . . . . . . . 297,791 38,409 259,382 $4.38 $1,135
September 1999 . . . . . . . 244,119 31,871 212,248 $4.60 $975
* Jointly owned by Cincinnati Gas & Electric Company, Dayton Power & Light Company
and Columbus Southern Power Company, the parent of Conesville Coal Preparation
Company.
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CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF COST OF OPERATION
BY MONTH, FOR THE QUARTER ENDED SEPTEMBER 30, 1999
<CAPTION>
Three
Months
July August September Ended
1999 1999 1999 9/30/99
(in thousands)
<S> <C> <C> <C> <C>
Labor-UMW*. . . . . . . . . . . . . . . . .$ 57 $ 106 $ 93 $ 256
Benefits-UMW* . . . . . . . . . . . . . . . 57 62 97 216
Office Salaries and Benefits. . . . . . . . 83 91 86 260
Operating Materials . . . . . . . . . . . . 30 116 79 225
Maintenance - Materials and Services. . . . 51 22 87 160
Electricity . . . . . . . . . . . . . . . . 40 63 55 158
Other Billed Services . . . . . . . . . . . 16 230 46 292
Rentals . . . . . . . . . . . . . . . . . . 322 326 339 987
Amortization of Deferred Gain
on Sale of Plant. . . . . . . . . . . . . (20) (20) (20) (60)
Depreciation. . . . . . . . . . . . . . . . 36 36 37 109
Cleaning Cost Normalization** . . . . . . . (279) 140 13 (126)
Other . . . . . . . . . . . . . . . . . . . 171 (51) 50 170
Total . . . . . . . . . . . . . .$ 564 $1,121 $ 962 $2,647
* 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, 1999
<CAPTION>
July August September
1999 1999 1999
<S> <C> <C> <C>
Clean Coal Deliveries from Conesville Coal
Preparation Plant (a) . . . . . . . . . . . . . . $32.40 * $30.90 * $31.79 *
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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