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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, 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 JUNE 30, 1999
(UNAUDITED)
<CAPTION>
Three
Months
Month Ended Ended
April 30, May 31, June 30, June 30,
1999 1999 1999 1999
(in thousands)
<S> <C> <C> <C> <C>
OPERATING REVENUES -
Services to Parent . . . . . . . $835 $591 $1,021 $2,447
COST OF OPERATION. . . . . . . . . 821 576 1,006 2,403
OPERATING INCOME . . . . . . . . . 14 15 15 44
NONOPERATING INCOME. . . . . . . . 1 - - 1
INCOME BEFORE FEDERAL INCOME TAXES 15 15 15 45
FEDERAL INCOME TAXES . . . . . . . 9 9 9 27
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 JUNE 30, 1999
(UNAUDITED)
<CAPTION>
April 30, May 31, June 30,
1999 1999 1999
(in thousands)
<S> <C> <C> <C>
ASSETS
MINING PLANT:
Mining Plant in Service . . . . . . . . . . . $ 841 $1,599 $1,599
Accumulated Amortization. . . . . . . . . . . 582 310 350
NET MINING PLANT . . . . . . . . . . . 259 1,289 1,249
OTHER PROPERTY AND INVESTMENTS. . . . . . . . . 782 775 851
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . 50 23 36
Accounts Receivable:
General . . . . . . . . . . . . . . . . . . 4 4 4
Affiliated Companies. . . . . . . . . . . . 337 556 1,058
Materials and Supplies. . . . . . . . . . . . 823 814 810
Other . . . . . . . . . . . . . . . . . . . . 4 2 1
TOTAL CURRENT ASSETS . . . . . . . . . 1,218 1,399 1,909
DEFERRED INCOME TAXES . . . . . . . . . . . . . 724 735 741
REGULATORY ASSETS . . . . . . . . . . . . . . . 269 266 262
DEFERRED CHARGES. . . . . . . . . . . . . . . . 1,577 736 589
TOTAL. . . . . . . . . . . . . . . . $4,829 $5,200 $5,601
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 . . . . . . . . . . . . . . 913 919 925
TOTAL SHAREHOLDER'S EQUITY . . . . . . 1,413 1,419 1,425
OTHER NONCURRENT LIABILITIES. . . . . . . . . . 1,446 1,463 1,477
CURRENT LIABILITIES:
Accounts Payable:
General . . . . . . . . . . . . . . . . . . 233 314 271
Affiliated Companies. . . . . . . . . . . . 289 336 464
Accrued Rentals . . . . . . . . . . . . . . . 315 604 916
Other . . . . . . . . . . . . . . . . . . . . 414 453 449
TOTAL CURRENT LIABILITIES. . . . . . . 1,251 1,707 2,100
DEFERRED GAIN ON SALE OF PLANT. . . . . . . . . 631 611 592
REGULATORY LIABILITIES. . . . . . . . . . . . . 88 - 7
TOTAL. . . . . . . . . . . . . . . . $4,829 $5,200 $5,601
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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, 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>
April 1999. . . . . . . . . . 195,499 25,696 169,803 $4.92 $835
May 1999. . . . . . . . . . . 137,753 17,050 120,703 $4.90 $591
June 1999 . . . . . . . . . . 241,693 30,268 211,425 $4.83 $1,021
* 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, 1999
<CAPTION>
Three
Months
April May June Ended
1999 1999 1999 6/30/99
(in thousands)
<S> <C> <C> <C> <C>
Labor-UMW*. . . . . . . . . . . . . . . . . . $ 91 $ 79 $ 90 $ 260
Benefits-UMW* . . . . . . . . . . . . . . . . 67 68 75 210
Office Salaries and Benefits. . . . . . . . . 86 81 85 252
Operating Materials . . . . . . . . . . . . . 36 34 90 160
Maintenance - Materials and Services. . . . . 60 184 65 309
Electricity . . . . . . . . . . . . . . . . . 51 39 53 143
Other Billed Services . . . . . . . . . . . . 60 12 14 86
Rent. . . . . . . . . . . . . . . . . . . . . 320 318 317 955
Amortization of Deferred Gain on
Sale of Plant . . . . . . . . . . . . . . . (20) (20) (19) (59)
Depreciation. . . . . . . . . . . . . . . . . 3 3 36 42
Cleaning Cost Normalization** . . . . . . . . 53 (283) 149 (81)
Other . . . . . . . . . . . . . . . . . . . . 14 61 51 126
Total . . . . . . . . . . . . . . . $821 $576 $1,006 $2,403
* 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, 1999
<CAPTION>
April May June
1999 1999 1999
<S> <C> <C> <C>
Clean Coal Deliveries from Conesville Coal
Preparation Plant (a) . . . . . . . . . . . . . . . . $33.68 * $32.93 * $32.48 *
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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