<PAGE>
FORM U-3A-2
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
Statement by Holding Company Claiming Exemption Under
Rule U-2 from the Provisions of the Public
Utility Holding Company Act of 1935
INTERMOUNTAIN INDUSTRIES, INC.
CENTURY PARTNERS - IDAHO LIMITED PARTNERSHIP
FEBRUARY 23, 1998
<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM U-3A-2 FILE NO. 0-8763
Statement by Holding Company Claiming Exemption Under
Rule U-3A-2 from the Provisions of the Public
Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
INTERMOUNTAIN INDUSTRIES, INC.
CENTURY PARTNERS - IDAHO LIMITED PARTNERSHIP
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
their statement claiming exemption as a holding company from the provisions of
the Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, State of organization, location and nature of business of
claimant and every subsidiary thereof, other than any exempt wholesale generator
("EWG") or foreign utility company in which the claimant directly or indirectly
holds an interest.
(a) Intermountain Industries, Inc. ("the Company") is incorporated
under the laws of the State of Idaho, with its principal office in Boise,
Idaho. It is a holding company and neither owns nor operates any physical
properties. The Company is the owner of all of the outstanding common
stock of its subsidiaries, Intermountain Gas Company, IGI Resources, Inc.,
InterWest Capital, Inc., III Exploration Company, and III Argentina
Company.
(b) Century Partners - Idaho Limited Partnership ("Century Partners -
Idaho") is a limited partnership organized under the laws of the State of
Idaho, with its principal offices in Darien, Connecticut. It was organized
primarily to hold the outstanding securities of the Company and any
successor corporation. Century Partners - Idaho has no operations other
than investing in the securities of the Company.
(c) Intermountain Gas Company ("Intermountain"), incorporated under
the laws of the State of Idaho, is a natural gas distribution company
engaged in the transmission, transportation and sale of natural gas solely
within the State of Idaho, primarily in the Snake River Valley.
(d) IGI Resources, Inc. ("Resources"), incorporated under the laws of
the State of Idaho, arranges the purchase and transportation of natural gas
for various customers along with providing daily dispatching, balancing,
and
1
<PAGE>
administrative services associated with wellhead to burner tip delivery of
natural gas. Resources has also begun providing the same type of marketing
services to customers for their electric needs. Resources operates
throughout the western United States, primarily in the Pacific Northwest
and the Rocky Mountain Region.
(e) InterWest Capital, Inc. ("InterWest") was incorporated under the
laws of the State of Idaho in December 1990 and has no material operations.
(f) III Exploration Company ("Exploration") was incorporated under
the laws of the State of Idaho in October 1992. Exploration was formed for
the purpose of exploring for and developing natural gas and oil deposits.
(g) III Argentina Company ("Argentina") was incorporated under the
laws of the State of Idaho in October 1992. Argentina and its subsidiary,
GISA, were formed for the purpose of participating in the privatization of
certain natural gas distribution companies by the Argentine government. On
November 30, 1992, the Company filed with the Securities and Exchange
Commission the applicable certification pursuant to Section 33(a)(2) of the
Public Utility Holding Company Act of 1935. The Company did not acquire any
of the Argentine properties and neither Argentina nor GISA have any
operations or property.
2. A brief description of the properties of the claimant and its
subsidiary public utility company used for the generation, transmission, and
distribution of electric energy for sale or for the production, transmission,
and distribution of natural or manufactured gas, indicating the location of
principal generating plants, transmission lines, producing fields, gas
manufacturing plants, and electric and gas distribution facilities, including
all such properties which are outside the State in which claimant and its
subsidiary are organized and all transmission lines or pipelines which deliver
or receive electric energy or gas at the borders of such State.
(a) Claimant neither owns nor operates any physical properties.
(b) Intermountain's properties, used for the transmission and
distribution of natural gas, are located solely within the State of Idaho.
As of December 31, 1997, such property included office buildings,
warehouses, and approximately 7,400 miles of transmission, distribution,
and service lines which connect with the transmission system of
Intermountain's pipeline supplier to 186,000 meters installed on customer
premises. In addition, Intermountain owns and operates a liquefied natural
gas ("LNG") peak-shaving plant which includes liquefaction, storage, and
regasification facilities. The facility has a total LNG storage capacity of
6,000,000 therms which can be regasified at a rate of 600,000 per day.
(c) Neither the claimant nor its subsidiary public utility company
owns, operates or uses any generating station, transmission lines,
producing fields, or
2
<PAGE>
electric or gas distribution facilities outside the State in which it is
organized, nor any transmission lines or pipelines which deliver or receive
electric energy or gas at the borders of any such State.
3. The following information for the last fiscal year with respect to
claimant and its subsidiary public utility company:
(a) Number of kWh of electric energy sold (at retail or wholesale)
and therms of natural or manufactured gas distributed at retail:
Electric Sales - None
Natural Gas Distributed or Transported - 493,670,340 Therms
(b) Number of kWh of electric energy and therms of natural or
manufactured gas distributed at retail outside the State in which each such
company is organized:
None
(c) Number kWh of electric energy and therms of natural or
manufactured gas sold at wholesale outside the State in which each such
company is organized or at the State line.
None
(d) Number of kWh of electric energy and therms of natural or
manufactured gas purchased outside the State in which each such company is
organized or at the State line.
Electric energy purchased - None
Natural gas purchased - 218,235,630 Therms
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States dollars:
(a) Name, location, business address and description of the
facilities used by the EWG or foreign utility company for the generation,
transmission and distribution of electric energy for sale or for the
distribution at retail of natural or manufactured gas.
None
3
<PAGE>
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
None
(c) Type and amount of capital invested, directly or indirectly, by
the holding company claiming exemption; any direct or indirect guarantee of
the security of the EWG or foreign utility company by the holding company
claiming exemption; and any debt or other financial obligation for which
there is recourse, directly or indirectly, to the holding company claiming
exemption or another system company, other than the EWG or foreign utility
company.
None
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
None
(e) Identify any service, sales or construction contract between the
EWG or foreign utility company and a system company, and describe the
services to be rendered or goods sold and fees or revenues under such
agreement.
None
EXHIBIT A
A consolidating statement of income and retained earnings of the claimant
and its subsidiary companies for the last calendar year, together with a
consolidating balance sheet of the claimant and its subsidiary companies as of
the close of such calendar year are attached.
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding-company system.
None
4
<PAGE>
The above-named claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 23rd day of February 1998.
INTERMOUNTAIN INDUSTRIES, INC.
Attest: By /s/ Jeffrey K. Lebens
--------------------------------
Jeffrey K. Lebens
Vice President, Treasurer, and
Chief Financial Officer
/s/ James E. Simmerman
- ---------------------------------
James E. Simmerman
Assistant Corporate Secretary
CENTURY PARTNERS - IDAHO
LIMITED PARTNERSHIP
Attest: By /s/ Richard Hokin
--------------------------------
Richard Hokin
General Partner
/s/ Mark R. Gelfield
- ---------------------------------
Mark R. Gelfeld
Controller
Name, title and address of officer to whom notices and correspondence concerning
this statement should be addressed:
Jeffrey K. Lebens
Vice President, Treasurer, and
Chief Financial Officer
Intermountain Industries, Inc.
P. O. Box 7608
Boise, ID 83707
5
<PAGE>
EXHIBIT A
(PAGES 1 THROUGH 7)
<PAGE>
CENTURY PARTNERS - IDAHO LIMITED PARTNERSHIP
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1997
<TABLE>
<CAPTION>
(Thousands of Dollars)
(Unaudited)
- ----------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------
Intermountain IGI
Intermountain Gas Resources,
Industries, Inc. Company Inc.
---------------- ------- ----
<S> <C> <C> <C>
OPERATING REVENUES . . . . . . . . . . . . . $ - $115,280 $ 291,079
COST OF GAS. . . . . . . . . . . . . . . . . - 60,513 289,508
-------- -------- ---------
GROSS MARGIN . . . . . . . . . . . . . . . . - 54,767 1,571
-------- -------- ---------
OPERATING EXPENSES:
Operation and maintenance . . . . . . . . 356 25,520 3,397
Depreciation, amortization and depletion. 964 8,730 126
General taxes . . . . . . . . . . . . . . - 3,024 380
-------- -------- ---------
1,320 37,274 3,903
-------- -------- ---------
OPERATING INCOME . . . . . . . . . . . . . . (1,320) 17,493 (2,332)
-------- -------- ---------
OTHER INCOME (EXPENSE), NET:
Equity in earnings of subsidiary
companies. . . . . . . . . . . . . . . 7,746 - -
Other, net. . . . . . . . . . . . . . . . 556 (38) 208
-------- -------- ---------
8,302 (38) 208
-------- -------- ---------
GROSS INCOME . . . . . . . . . . . . . . . . 6,982 17,455 (2,124)
INTEREST CHARGES . . . . . . . . . . . . . . 713 3,761 24
-------- -------- ---------
NET INCOME BEFORE TAXES. . . . . . . . . . . 6,269 13,694 (2,148)
INCOME TAX EXPENSE (BENEFIT) . . . . . . . . (263) 5,469 (795)
-------- -------- ---------
NET INCOME BEFORE CHANGE IN
ACCOUNTING PRINCIPLE. . . . . . . . . . . 6,532 8,225 (1,353)
CHANGE IN ACCOUNTING PRINCIPLE . . . . . . . - - -
-------- -------- ---------
NET INCOME . . . . . . . . . . . . . . . . . 6,532 8,225 (1,353)
Less dividends on common stock. . . . . . - 5,000 -
RETAINED EARNINGS -
DECEMBER 31, 1996 . . . . . . . . . . . . 71,561 41,460 7,774
-------- -------- ---------
RETAINED EARNINGS -
DECEMBER 31, 1997 . . . . . . . . . . . . $ 78,093 $ 44,685 $ 6,421
-------- -------- ---------
-------- -------- ---------
</TABLE>
Exhibit A
<PAGE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
III InterWest Century
Exploration Capital, Partners
Company Inc. Idaho
------- ---- -----
<S> <C> <C> <C>
OPERATING REVENUES . . . . . . . . . . . . . $1,889 $118 $ -
COST OF GAS. . . . . . . . . . . . . . . . . 451 - -
------ ---- ------
GROSS MARGIN . . . . . . . . . . . . . . . . 1,438 118 -
------ ---- ------
OPERATING EXPENSES:
Operation and maintenance . . . . . . . . 1,349 79 -
Depreciation, amortization and depletion. 322 27 -
General taxes . . . . . . . . . . . . . . - - -
------ ---- ------
1,671 106 -
------ ---- ------
OPERATING INCOME . . . . . . . . . . . . . . (233) 12 -
------ ---- ------
OTHER INCOME (EXPENSE), NET:
Equity in earnings of subsidiary
companies. . . . . . . . . . . . . . . - - 4,777
Other, net. . . . . . . . . . . . . . . . (1,348) 3 4
------ ---- ------
(1,348) 3 4,781
------ ---- ------
GROSS INCOME . . . . . . . . . . . . . . . . (1,581) 15 4,781
INTEREST CHARGES . . . . . . . . . . . . . . 363 12 7
------ ---- ------
NET INCOME BEFORE TAXES. . . . . . . . . . . (1,944) 3 4,774
INCOME TAX EXPENSE (BENEFIT) . . . . . . . . (2,815) - -
------ ---- ------
NET INCOME BEFORE CHANGE IN
ACCOUNTING PRINCIPLE. . . . . . . . . . . 871 3 4,774
CHANGE IN ACCOUNTING PRINCIPLE . . . . . . . - - -
------ ---- ------
NET INCOME . . . . . . . . . . . . . . . . . 871 3 4,774
Less dividends on common stock. . . . . . - - -
RETAINED EARNINGS -
DECEMBER 31, 1996 . . . . . . . . . . . . 132 3 50,692
------ ---- ------
RETAINED EARNINGS -
DECEMBER 31, 1997 . . . . . . . . . . . . $1,003 $ 6 $ 55,466
------ ---- ------
------ ---- ------
<CAPTION>
Total Reclasifications
Before and
Eliminations Eliminations Consolidated
------------ ------------ ------------
<S> <C> <C> <C>
OPERATING REVENUES . . . . . . . . . . . . . $408,366 $ (1,581) $406,785
COST OF GAS. . . . . . . . . . . . . . . . . 350,472 (1,463) 349,009
-------- --------- --------
GROSS MARGIN . . . . . . . . . . . . . . . . 57,894 (118) 57,776
-------- --------- --------
OPERATING EXPENSES:
Operation and maintenance . . . . . . . . 30,701 (118) 30,583
Depreciation, amortization and depletion. 10,169 - 10,169
General taxes . . . . . . . . . . . . . . 3,404 - 3,404
-------- --------- --------
44,274 (118) 44,156
-------- --------- --------
OPERATING INCOME . . . . . . . . . . . . . . 13,620 - 13,620
-------- --------- --------
OTHER INCOME (EXPENSE), NET:
Equity in earnings of subsidiary
companies. . . . . . . . . . . . . . . 12,523 (12,523) -
Other, net. . . . . . . . . . . . . . . . (615) (362) (977)
-------- --------- --------
11,908 (12,885) (977)
-------- --------- --------
GROSS INCOME . . . . . . . . . . . . . . . . 25,528 (12,885) 12,643
INTEREST CHARGES . . . . . . . . . . . . . . 4,880 (362) 4,518
-------- --------- --------
NET INCOME BEFORE TAXES. . . . . . . . . . . 20,648 (12,523) 8,125
INCOME TAX EXPENSE (BENEFIT) . . . . . . . . 1,596 - 1,596
-------- --------- --------
NET INCOME BEFORE CHANGE IN
ACCOUNTING PRINCIPLE. . . . . . . . . . . 19,052 (12,523) 6,529
CHANGE IN ACCOUNTING PRINCIPLE . . . . . . . - - -
-------- --------- --------
NET INCOME . . . . . . . . . . . . . . . . . 19,052 (12,523) 6,529
Less dividends on common stock. . . . . . 5,000 (5,000) -
RETAINED EARNINGS -
DECEMBER 31, 1996 . . . . . . . . . . . . 171,622 (88,607) 83,015
-------- --------- --------
RETAINED EARNINGS -
DECEMBER 31, 1997 . . . . . . . . . . . . $185,674 $ (96,130) $ 89,544
-------- --------- --------
-------- --------- --------
</TABLE>
Exhibit A
<PAGE>
CENTURY PARTNERS - IDAHO LIMITED PARTNERSHIP
CONSOLIDATING BALANCE SHEET - ASSETS
DECEMBER 31, 1997
<TABLE>
<CAPTION>
(Thousands of Dollars)
(Unaudited)
- ----------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------
Intermountain IGI
Intermountain Gas Resources,
Industries, Inc. Company Inc.
---------------- ------- ----
<S> <C> <C> <C>
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant . . . . . . . . . . . . . . $ - $234,994 $ -
Less accumulated depreciation . . . . . - 114,756 -
-------- -------- ---------
- 120,238 -
-------- -------- ---------
Non-utility property. . . . . . . . . . . - 14 1,502
Less accumulated depreciation
& depletion . . . . . . . . . . . . . - 14 644
-------- -------- ---------
- - 858
-------- -------- ---------
INVESTMENTS AND OTHER ASSETS:
Investment in affiliates. . . . . . . . . 72,533 - -
Other . . . . . . . . . . . . . . . . . . - 250 100
-------- -------- ---------
72,533 250 100
-------- -------- ---------
CURRENT ASSETS:
Cash and temporary cash investments . . . 246 740 13,283
Restricted cash held in margin accounts . - - 4,000
Notes receivable from affiliates. . . . . 5,600 - -
Accounts receivable, less reserves. . . . - 11,701 44,537
Accounts receivable from affiliates . . . 698 249 2,043
Cost of gas delivered but unbilled. . . . - 2,693 -
Natural gas in storage. . . . . . . . . . - 11,048 4,125
Materials and supplies. . . . . . . . . . - 1,200 -
Prepayments . . . . . . . . . . . . . . . - 543 44
Other current assets. . . . . . . . . . . 1,276 169 350
-------- -------- ---------
7,820 28,343 68,382
-------- -------- ---------
INVESTMENT IN EXCESS OF BOOK
VALUE OF ASSETS ACQUIRED,
less amortization of $12,608. . . . . . . 4,622 - -
-------- -------- ---------
DEFERRED CHARGES:
Unamortized debt expense. . . . . . . . . 70 1,519 -
Deferred gas costs. . . . . . . . . . . . - 9,795 -
Deferred unfunded future income
tax expense . . . . . . . . . . . . . . - 600 -
Deferred tax credits. . . . . . . . . . . 1,743 - -
Other . . . . . . . . . . . . . . . . . . 2 256 -
-------- -------- ---------
1,815 12,170 -
-------- -------- ---------
$ 86,790 $161,001 $ 69,340
-------- -------- ---------
-------- -------- ---------
</TABLE>
Exhibit A
<PAGE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
III InterWest Century
Exploration Capital, Partners
Company Inc. Idaho
------- ---- -----
<S> <C> <C> <C>
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant . . . . . . . . . . . . . . $ - $ - $ -
Less accumulated depreciation . . . . . - - -
------ ------- -------
- - -
------ ------- -------
Non-utility property. . . . . . . . . . . 6,112 - -
Less accumulated depreciation
& depletion . . . . . . . . . . . . . 687 - -
------ ------- -------
5,425 - -
------ ------- -------
INVESTMENTS AND OTHER ASSETS:
Investment in affiliates. . . . . . . . . - - 59,336
Other . . . . . . . . . . . . . . . . . . 3,113 1,524 -
------ ------- -------
3,113 1,524 59,336
------ ------- -------
CURRENT ASSETS:
Cash and temporary cash investments . . . 2 19 5
Restricted cash held in margin accounts . - - -
Notes receivable from affiliates. . . . . - - -
Accounts receivable, less reserves. . . . 165 - 76
Accounts receivable from affiliates . . . - - -
Cost of gas delivered but unbilled. . . . - - -
Natural gas in storage. . . . . . . . . . - - -
Materials and supplies. . . . . . . . . . - - -
Prepayments . . . . . . . . . . . . . . . 120 - -
Other current assets. . . . . . . . . . . 285 1 -
------ ------- -------
572 20 81
------ ------- -------
INVESTMENT IN EXCESS OF BOOK
VALUE OF ASSETS ACQUIRED,
less amortization of $12,608. . . . . . . - - -
------ ------- -------
DEFERRED CHARGES:
Unamortized debt expense. . . . . . . . . - - -
Deferred gas costs. . . . . . . . . . . . - - -
Deferred unfunded future income
tax expense . . . . . . . . . . . . . . - - -
Deferred tax credits. . . . . . . . . . . - - -
Other . . . . . . . . . . . . . . . . . . - - -
------ ------- -------
- - -
------ ------- -------
$9,110 $ 1,544 $59,417
------ ------- -------
------ ------- -------
<CAPTION>
Total Reclasifications
Before and
Eliminations Eliminations Consolidated
------------ ------------ ------------
<S> <C> <C> <C>
PROPERTY, PLANT, AND EQUIPMENT:
Utility plant . . . . . . . . . . . . . . $234,994 $ - $234,994
Less accumulated depreciation . . . . . 114,756 - 114,756
-------- --------- --------
120,238 - 120,238
-------- --------- --------
Non-utility property. . . . . . . . . . . 7,628 - 7,628
Less accumulated depreciation
& depletion . . . . . . . . . . . . . 1,345 - 1,345
-------- --------- --------
6,283 - 6,283
-------- --------- --------
INVESTMENTS AND OTHER ASSETS:
Investment in affiliates. . . . . . . . . 131,869 (131,869) -
Other . . . . . . . . . . . . . . . . . . 4,987 - 4,987
-------- --------- --------
136,856 (131,869) 4,987
-------- --------- --------
CURRENT ASSETS:
Cash and temporary cash investments . . . 14,295 - 14,295
Restricted cash held in margin accounts . 4,000 - 4,000
Notes receivable from affiliates. . . . . 5,600 (5,600) -
Accounts receivable, less reserves. . . . 56,479 - 56,479
Accounts receivable from affiliates . . . 2,990 (2,990) -
Cost of gas delivered but unbilled. . . . 2,693 - 2,693
Natural gas in storage. . . . . . . . . . 15,173 - 15,173
Materials and supplies. . . . . . . . . . 1,200 - 1,200
Prepayments . . . . . . . . . . . . . . . 707 - 707
Other current assets. . . . . . . . . . . 2,081 (1,600) 481
-------- --------- --------
105,218 (10,190) 95,028
-------- --------- --------
INVESTMENT IN EXCESS OF BOOK
VALUE OF ASSETS ACQUIRED,
less amortization of $12,608. . . . . . . 4,622 - 4,622
-------- --------- --------
DEFERRED CHARGES:
Unamortized debt expense. . . . . . . . . 1,589 - 1,589
Deferred gas costs. . . . . . . . . . . . 9,795 - 9,795
Deferred unfunded future income
tax expense . . . . . . . . . . . . . . 600 - 600
Deferred tax credits. . . . . . . . . . . 1,743 - 1,743
Other . . . . . . . . . . . . . . . . . . 258 - 258
-------- --------- --------
13,985 - 13,985
-------- --------- --------
$387,202 $(142,059) $245,143
-------- --------- --------
-------- --------- --------
</TABLE>
Exhibit A
<PAGE>
CENTURY PARTNERS - IDAHO LIMITED PARTNERSHIP
CONSOLIDATING BALANCE SHEET - CAPITALIZATION AND LIABILITIES
DECEMBER 31, 1997
<TABLE>
<CAPTION>
(Thousands of Dollars)
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Intermountain IGI
Intermountain Gas Resources,
Industries, Inc. Company Inc.
---------------- ------- ----
<S> <C> <C> <C>
CAPITALIZATION:
Common stock. . . . . . . . . . . . . . . . . . . . $ 3,865 $ 1,513 $ 1
Note receivable from shareholder. . . . . . . . . . (400) - -
Premium on common stock . . . . . . . . . . . . . . - 14,809 -
Treasury stock, at cost . . . . . . . . . . . . . . (1,493) - -
Retained earnings . . . . . . . . . . . . . . . . . 78,093 44,685 6,421
----------- ----------- -----------
80,065 61,007 6,422
Long-term debt. . . . . . . . . . . . . . . . . . . 3,950 54,125 -
----------- ----------- -----------
84,015 115,132 6,422
----------- ----------- -----------
PARTNERS' CAPITAL. . . . . . . . . . . . . . . . . . . . - - -
----------- ----------- -----------
MINORITY INTEREST. . . . . . . . . . . . . . . . . . . . - - -
----------- ----------- -----------
CURRENT LIABILITIES:
Long-term debt due within one year. . . . . . . . . 2,000 2,375 -
Notes payable to affiliates . . . . . . . . . . . . - - 950
Accounts payable. . . . . . . . . . . . . . . . . . 266 12,135 61,575
Accounts payable to affiliates. . . . . . . . . . . - 2,431 415
Interest. . . . . . . . . . . . . . . . . . . . . . 63 905 -
General taxes . . . . . . . . . . . . . . . . . . . - 2,852 20
Income taxes. . . . . . . . . . . . . . . . . . . . - 3,168 -
----------- ----------- -----------
2,329 23,866 62,960
----------- ----------- -----------
DEFERRED CREDITS:
Deferred income taxes . . . . . . . . . . . . . . . (19) 6,885 (42)
Unamortized investment tax credits. . . . . . . . . - 4,642 -
Regulatory liability - deferred income taxes. . . . - 3,754 -
Customer advances for construction. . . . . . . . . - 2,435 -
Other . . . . . . . . . . . . . . . . . . . . . . . 465 4,287 -
----------- ----------- -----------
446 22,003 (42)
----------- ----------- -----------
$ 86,790 $ 161,001 $ 69,340
----------- ----------- -----------
----------- ----------- -----------
</TABLE>
Exhibit A
<PAGE>
<TABLE>
<CAPTION>
III InterWest Century
Exploration Capital, Partners
Company Inc. Idaho
------- ---- -----
<S> <C> <C> <C>
CAPITALIZATION:
Common stock. . . . . . . . . . . . . . . . . . . . $ 2,550 $ 1 $ -
Note receivable from shareholder. . . . . . . . . . - - -
Premium on common stock . . . . . . . . . . . . . . - 1,544 -
Treasury stock, at cost . . . . . . . . . . . . . . - - -
Retained earnings . . . . . . . . . . . . . . . . . 1,003 6 -
----------- ----------- -----------
3,553 1,551 -
Long-term debt. . . . . . . . . . . . . . . . . . . - - -
----------- ----------- -----------
3,553 1,551 -
----------- ----------- -----------
PARTNERS' CAPITAL. . . . . . . . . . . . . . . . . . . . - - 59,330
----------- ----------- -----------
MINORITY INTEREST. . . . . . . . . . . . . . . . . . . . - - -
----------- ----------- -----------
CURRENT LIABILITIES:
Long-term debt due within one year. . . . . . . . . - - -
Notes payable to affiliates . . . . . . . . . . . . 4,650 - -
Accounts payable. . . . . . . . . . . . . . . . . . 426 3 87
Accounts payable to affiliates. . . . . . . . . . . 144 - -
Interest. . . . . . . . . . . . . . . . . . . . . . - - -
General taxes . . . . . . . . . . . . . . . . . . . 10 - -
Income taxes. . . . . . . . . . . . . . . . . . . . - - -
----------- ----------- -----------
5,230 3 87
----------- ----------- -----------
DEFERRED CREDITS:
Deferred income taxes . . . . . . . . . . . . . . . 327 (10) -
Unamortized investment tax credits. . . . . . . . . - - -
Regulatory liability - deferred income taxes. . . . - - -
Customer advances for construction. . . . . . . . . - - -
Other . . . . . . . . . . . . . . . . . . . . . . . - - -
----------- ----------- -----------
327 (10) -
----------- ----------- -----------
$ 9,110 $ 1,544 $ 59,417
----------- ----------- -----------
<CAPTION>
Total Reclasifications
Before and
Eliminations Eliminations Consolidated
------------ ------------ ------------
<S> <C> <C> <C>
CAPITALIZATION:
Common stock. . . . . . . . . . . . . . . . . . . . $ 7,930 $ (7,930) $ -
Note receivable from shareholder. . . . . . . . . . (400) 400 -
Premium on common stock . . . . . . . . . . . . . . 16,353 (16,353) -
Treasury stock, at cost . . . . . . . . . . . . . . (1,493) 1,493 -
Retained earnings . . . . . . . . . . . . . . . . . 130,208 (130,208) -
----------- ----------- -------------
152,598 (152,598) -
Long-term debt. . . . . . . . . . . . . . . . . . . 58,075 - 58,075
----------- ----------- -------------
210,673 (152,598) 58,075
----------- ----------- -------------
PARTNERS' CAPITAL. . . . . . . . . . . . . . . . . . . . 59,330 (679) 58,651
----------- ----------- -------------
MINORITY INTEREST. . . . . . . . . . . . . . . . . . . . - 21,408 21,408
----------- ----------- -------------
CURRENT LIABILITIES:
Long-term debt due within one year. . . . . . . . . 4,375 - 4,375
Notes payable to affiliates . . . . . . . . . . . . 5,600 (5,600) -
Accounts payable. . . . . . . . . . . . . . . . . . 74,492 - 74,492
Accounts payable to affiliates. . . . . . . . . . . 2,990 (2,990) -
Interest. . . . . . . . . . . . . . . . . . . . . . 968 - 968
General taxes . . . . . . . . . . . . . . . . . . . 2,882 - 2,882
Income taxes. . . . . . . . . . . . . . . . . . . . 3,168 (1,600) 1,568
----------- ----------- -------------
94,475 (10,190) 84,285
----------- ----------- -------------
DEFERRED CREDITS:
Deferred income taxes . . . . . . . . . . . . . . . 7,141 - 7,141
Unamortized investment tax credits. . . . . . . . . 4,642 - 4,642
Regulatory liability - deferred income taxes. . . . 3,754 - 3,754
Customer advances for construction. . . . . . . . . 2,435 - 2,435
Other . . . . . . . . . . . . . . . . . . . . . . . 4,752 - 4,752
----------- ----------- -------------
22,724 - 22,724
----------- ----------- -------------
$ 387,202 $ (142,059) $ 245,143
----------- ----------- -------------
----------- ----------- -------------
</TABLE>
Exhibit A
<PAGE>
CENTURY PARTNERS - IDAHO LIMITED PARTNERSHIP
NOTES TO CONSOLIDATING FINANCIAL STATEMENTS
DECEMBER 31, 1997
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
1. Effective March 7, 1996, minority shareholders hold 26.9% of the
Company's outstanding common stock. Prior to that date, the minority
shareholders held 28.5% of the Company's outstanding common stock. The
change in minority interest resulted from the purchase of common shares
from a minority shareholder.
Exhibit A
