FORM U-3A-2
FILE NO. 69-53-3
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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.
Consolidated Papers, Inc. (herein sometimes designated as the "Claimant")
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption of itself as a holding company, and of each
of its subsidiaries as such, from the provisions of the Public Utility Holding
Company Act of 1935. Claimant and the system of which it is the top "holding
company" fall within the exemptions granted by said Rule 2. In support of
such claim for exemption the following information is submitted:
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 Claimant directly or indirectly holds an
interest.
The Claimant, Consolidated Papers, Inc., is a Wisconsin corporation having its
principal office and place of business at Wisconsin Rapids, Wisconsin, and is
engaged in the business of manufacturing and selling paper.
Niagara of Wisconsin Paper Corporation is a Wisconsin corporation, all of the
common stock of which is owned by Claimant Its principal office and place of
business is the City of Niagara, Wisconsin. It is engaged primarily in the
business of manufacturing and selling paper.
Lake Superior Paper Industries is a Minnesota corporation, all of the common
stock of which is owned by LSPI Duluth Corp. and LSPI Paper Corporation. All
of the common stock of LSPI Duluth Corp. and LSPI Paper Corporation is owned
by Claimant. The principal office and place of business of Lake Superior
Paper Industries is the City of Duluth, Minnesota. It is engaged primarily in
the business of manufacturing and selling paper.
Superior Recycled Fiber Industries is a Minnesota corporation, all of the
common stock of which is owned by LSPI Fiber Co. and Superior Recycled Fiber
Corporation. All of the common stock of LSPI Fiber Co. and Superior Recycled
Fiber Corporation is owned by Claimant. The principal office and place of
business of Superior Recycled Fiber Industries is the City of Duluth,
Minnesota. It is engaged primarily in the production and selling of recycled
pulp.
Consolidated Water Power Company, a public utility company, is a Wisconsin
corporation, all of the capital stock of which is owned by Claimant. Its
principal office and place of business is the City of Wisconsin Rapids,
Wisconsin. It is engaged primarily in the generation, transmission,
distribution, and sale of electric energy and water power.
Consolidated Papers Foreign Sales Corporation is a U.S. Virgin Islands
corporation, all of the common stock of which is owned by Claimant. Its
principal office and place of business is the City of Charlotte Amalie, St.
Thomas, U.S. Virgin Islands. It manages all of the Claimant's export
operations with respect to products which qualify as export property as
defined in Section 927 of the Internal Revenue Code.
Newaygo Forest Products Limited is a corporation of the Province of Ontario,
Canada, all of the common stock of which is owned by Claimant. Its principal
office and place of business is at Mead in said Province. Its principal
business is the ownership of timber and timberlands in Canada.
Wisconsin Valley Improvement Company is a Wisconsin corporation having its
principal office and place of business in the City of Wausau, Wisconsin. It
neither controls nor is it controlled by or under common control with
Claimant, and it is a "subsidiary" of Claimant and Consolidated Water Power
Company only by virtue of the definition of Section 2(a)(8)(A) of the Public
Utility Holding Company Act of 1935. It operates a system of dams and water
reservoirs on the Wisconsin River and tributary streams to produce as nearly a
uniform stream flow as practicable through all seasons, and charges to
benefited power plant owners water tolls as authorized semi-annually by the
Public Service Commission of Wisconsin, all pursuant to special enactments of
the Wisconsin Legislature (as amended by Chapter 497, Wisconsin Laws of 1939).
It generates no electric energy and renders no public utility services. Its
financial statements are not normally consolidated with those of Claimant or
any other company, and are omitted from the financial statements herein as not
material.
Consolidated Water Power Company on December 31, 1995 owned approximately
33.8% of the outstanding stock of Wisconsin River Power Company, a Wisconsin
corporation having its principal office at Wisconsin Rapids, Wisconsin,
(herein sometimes referred to as "River Company"). This ownership was
acquired as of December 31, 1974 from Claimant. The nature of the business of
River Company is as set forth in the findings and opinion of the Commission
entered in reference to River Company on January 29, 1948, in File Nos.
70-1656 and 31-551 (27 SEC Decisions, p. 539), pursuant to the Public Utility
Holding Company Act of 1935, to which findings and opinion reference is hereby
made with the same effect as though the contents thereof in respect to the
nature of such business were set forth at length herein. Briefly, such
business presently consists of operation of two dams and hydroelectric plants
on the Wisconsin River. The output of these two plants is sold in equal parts
to three companies including Consolidated Water Power Company. Consolidated
Water Power Company and the other two customers own all outstanding stock of
Wisconsin River Power Company in substantially equal parts.
Neither Claimant nor any subsidiary thereof holds an interest, either directly
or indirectly, in any EWG or foreign utility company.
2. A brief description of the properties of Claimant and each of its
subsidiary public utility companies 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
subsidiaries are organized and all transmission or pipelines which deliver or
receive electric energy or gas at the borders of such State.
The properties of Consolidated Water Power Company are used primarily for the
generation and local transmission of energy sold to Claimant and consumed at
Claimant's plants but are also used for the generation and local transmission
and distribution of electric energy sold to the purchasers of electric energy
as follows:
a. Distributed by it at retail directly to approximately one thousand
residential, commercial, industrial, and rural consumers in the City of
Wisconsin Rapids, Village of Biron, and Town of Grand Rapids, Wood County,
Wisconsin, and Towns of Plover and Grant, Portage County, Wisconsin.
b. Sold at wholesale to Wisconsin Power and Light Company at the City of
Wisconsin Rapids and to Wisconsin Public Service Corporation at the Town of
Grand Rapids and at the City of Stevens Point, Wisconsin.
Consolidated Water Power Company has powerhouses and dams for the generation
of such electric energy at Wisconsin Rapids, Wisconsin; Village of Biron,
Wisconsin; City of Stevens Point, Wisconsin; Village of Whiting, Wisconsin;
and Town of Eau Pleine, Portage County, Wisconsin. It has electric
transmission lines connecting said plants and connecting with the plants of
the Claimant and with the Petenwell plant of Wisconsin River Power Company.
Consolidated Water Power Company owns all necessary flowage rights in
connection with said dams and necessary for the operation of its hydroelectric
plants.
None of the properties of Consolidated Water Power Company used for the
generation, transmission, or distribution of electric energy for sale is
located outside of the Counties of Wood, Portage, Marathon, and Adams,
Wisconsin; no electric energy is sold or delivered by it outside of the State
of Wisconsin; and no electric energy is delivered to or received by it at the
borders of such State. The business of Consolidated Water Power Company is
entirely intrastate.
The properties of Wisconsin River Power Company consist of its Petenwell
hydroelectric plant having a nameplate capacity of 20,000 KW and its Castle
Rock hydroelectric plant having a nameplate capacity of 15,000 KW. Both
plants are located on the Wisconsin River south of Wisconsin Rapids,
Wisconsin. All electric energy produced by River Company has been and will be
sold and delivered at the plant sites which are wholly within the State of
Wisconsin, and no electric energy is to be delivered to or received by it
outside the border of said State. The business of River Company is entirely
intrastate.
3. The following information for the last calendar year with respect to
Claimant and each of its subsidiary public utility companies:
a. Number of KWH of electric energy sold (at retail or wholesale) and
Mcf. of natural or manufactured gas distributed at retail.
Neither Claimant nor any subsidiary thereof sells or distributes any natural
or manufactured gas at retail or wholesale either within or outside of the
State of Wisconsin or at the state line.
Neither Claimant nor any subsidiary thereof other than Consolidated Water
Power Company and Wisconsin River Power Company sells or distributes any
electric energy at retail or wholesale either within or outside of the State
of Wisconsin or at the state line.
The number of KWH of electric energy sold at retail or wholesale (and also the
equivalent in KWH of mechanically transmitted water power sold) during the
twelve months ended December 31, 1995, by Consolidated Water Power Company and
Wisconsin River Power Company and places where such sales were made are set
forth in Exhibit "AA" annexed hereto and made a part hereof.
b. Number of KWH of electric energy and Mcf. of natural or manufactured
gas distributed at retail outside the State in which each such company is
organized.
None.
c. Number of KWH of electric energy and Mcf. 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 Mcf. of natural or manufactured
gas purchased outside the State in which each such company is organized or at
the State line.
None.
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 for the generation, transmission and
distribution of electric energy for sale or for the distribution at retail of
natural or manufactured gas.
Not applicable.
b. Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
Not applicable.
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.
Not applicable.
d. Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
Not applicable.
e. Identify any service, sales or construction contract(s) 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(s).
Not applicable.
<PAGE>
EXHIBIT "A"
A consolidating statement of income and surplus of the Claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of Claimant and its subsidiary companies as of the close of such
calendar year, excluding Wisconsin River Power Company (not normally
consolidated), and a separate balance sheet and statement of income and
surplus of Wisconsin River Power Company.
<TABLE>
CONSOLIDATED PAPERS, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF NET INCOME
AS OF DECEMBER 31, 1995
<CAPTION>
Consol-
idated Newaygo Intraco./
Consolidated Niagara Lake Superior Water Foreign Forest Interco.
Papers of Superior Recycled Power Sales Products Elim- Consolidated
Inc. Wisconsin Paper Fiber Company Corp. Limited inations Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Outside sales - net 1,315,601 121,608 112,907 27,790 649 - 506 - 1,579,061
Intracompany sales 705,104 - - - - - - (705,104) -
Intercompany sales 1,476 14 - 11,077 32,484 - 853 ( 45,904) -
Total Sales 2,022,181 121,622 112,907 38,867 33,133 - 1,359 (751,008) 1,579,061
Less: Cost of sales 1,646,151 88,832 78,139 34,191 30,030 - 951 (751,008) 1,127,286
Gross Profit or (Loss) 376,030 32,790 34,768 4,676 3,103 - 408 - 451,775
Admin., Selling,
& General Expenses
Administrative expenses 44,342 282 - 67 1,044 1 - - 45,736
Selling expenses 15,400 28 14 - - - - - 15,442
Research & Development
expenses 5,847 - - - - - - - 5,847
Total 65,589 310 14 67 1,044 1 - - 67,025
Net Profit or (Loss)
From Operatons 310,441 32,480 34,754 4,609 2,059 ( 1) 408 - 384,750
Other Income
Dividends received 3 - - - - - - - 3
Interest earned 1,445 - 6 496 - - - - 1,947
Rentals - net 190 - - - - - - - 190
Royalties - net 287 - - - - - - - 287
Profit or (loss) on
disposal of capital
assets 3,219 - - - - - - - 3,219
Equity in earnings of
other companies 3,878 - - - 905 - - - 4,783
Miscellaneous 1,288 29 75 - - 1,089 1 - 2,482
Total 10,310 29 81 496 905 1,089 1 - 12,911
Total Income or (Loss) 320,751 32,509 34,835 5,105 2,964 1,088 409 - 397,661
Other Deductions
Interest 11,709 - 2 - - - - - 11,711
Carrying charge on
timber resources 1,711 - - - - - - - 1,711
Carrying charge on
non-operational land 43 - - - - - - - 43
Miscellaneous 1,884 42 569 7 65 851 33 - 3,451
Total 15,347 42 571 7 65 851 33 - 16,916
Net income or (loss)
before income taxes 305,404 32,467 34,264 5,098 2,899 237 376 - 380,745
Provision for income taxes 121,255 12,974 14,163 2,106 932 29 - 56 151,515
Net Income or (Loss) $ 184,149 $ 19,493 $ 20,101 $ 2,992 $ 1,967 $ 208 $ 376 $( 56) $ 229,230
<PAGE>
CPI AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENT OF SURPLUS ACCOUNTS
YEAR ENDED DECEMBER 31, 1995
Consol-
Consol- idated Newaygo
idated Niagara Lake Superior Water Foreign Forest Interco
Paper of Superior Recycled Power Sales Products Elimi-
Particulars Inc. Wisconsin Paper Fiber Company Corp. Limited nations Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Capital Surplus Arising
From:
Premium on capital stock
sold, 1911 & 1918 $ 300 - - - - - - - $ 300
Appraisal of plants &
equipment, 1917 95 - - - - - - - 95
Valuation of water power
rights, 1921 448 - - - - - - - 448
Premium on capital stock
sold 1959, 1960,
1961, and 1962 485 - - - - - - - 485
Net premium on stock sales
& purchases, prior years 29,897 - - - - - - - 29,897
Tax effect of incentive
stock option - 1994, 1995 2,370 - - - - - - - 2,370
Proceeds from stock issued
in 1995 in excess of
common stock at par
value of $1.00 per share 16,213 - - - - - - - 16,213
Interco. transfer of
power assets - 1994, 1995 - - - - $ 540 - - $ (540) -
Increase to reflect change
in par value of
common stock 24,517 - - - - - - - 24,517
Purchase price of new
acquisitions - $42,946 $124,202 $72,135 - - - (239,283) -
Total Capital Surplus As
Of December 31, 1995 74,325 42,946 124,202 72,135 540 - - (239,823) 74,325
Earned Surplus
Balance at beginning of
year 859,798 - - - 18,701 277 (5,951) 2,489 875,314
Net income for the year 184,149 19,494 20,101 2,992 1,967 208 375 ( 56) 229,230
1,043,947 19,494 20,101 2,992 20,668 485 (5,576) 2,433 1,104,544
Dividends paid in cash (63,510) - - - - - - - (63,510)
Changes:
Unrealized net loss on
investment securities 879 - - - - - - - 879
Cumulative translation
adjustment - - - - - - 35 - 35
Treasury stock (2,100) - - - - - - - (2,100)
Earned Surplus or
(Deficit) at End of
Year 979,216 19,494 20,101 2,992 20,668 485 (5,541) 2,433 1,039,848
Total Capital and Earned
Surplus or (Deficit) at
End of Year $1,053,541 $62,440 $144,303 $75,127 $21,208 $485 $(5,541) $(237,390) $1,114,173
<PAGE>
CONSOLIDATED PAPERS, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 1995
Consol-
idated Newaygo Intraco./
Consolidated Niagara Lake Superior Water Foreign Forest Interco. Consol-
Papers of Superior Recycled Power Sales Products Elim- idated
Inc. Wisconsin Paper Fiber Company Corp. Limited inations Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Current Assets
Cash & marketable
securities $ 2,341 $ 2,966 - $ 46 - - $ 19 - $ 5,372
Receivables
(less reserves) 100,753 11,216 $ 21,163 6,940 - - - - 140,072
Inventories
Finished stock 35,617 2,302 3,719 1,205 - - - - 42,843
Unfinished
stock 6,346 251 134 76 - - - - 6,807
Raw materials
& supplies 61,504 9,309 8,729 3,072 $ 171 - 8 - 82,793
103,467 11,862 12,582 4,353 171 - 8 - 132,443
Other Prepaids 11,738 4,130 19,458 - 1,600 - 4 - 36,930
Total Current
Assets 218,299 30,174 53,203 11,339 1,771 - 31 - 314,817
Investment & Other
Non-current Assets
Stock - Subsidiaries 247,943 - - - - - - $(247,943) -
Stock - other
companies (at cost) 27,662 - - - 6,138 - - - 33,800
Commercial &
& residential
property 2,229 - - - - - - 47 2,276
Other receivables 135 - - 4,703 - - 3 - 4,841
Prepaid leases - - 8,122 - - - - - 8,122
Goodwill - 7,296 45,676 20,429 - - - - 73,401
Other prepaids 11,379 - 9,896 5,138 - - - ( 56) 26,357
289,348 7,296 63,694 30,270 6,138 - 3 (247,952) 148,797
Advances to
Affiliated
Companies 35,000 29,114 13,832 13,914 - 476 856 ( 93,192) -
Fixed Assets
Bldgs., mach.
& equip. 1,965,659 51,049 50,627 58,924 32,945 - 1,703 - 2,160,907
Less: Accumulated
Depreciation (809,427) (3,154) (1,101) (1,420) (14,548) - (1,114) - (830,764)
1,156,232 47,895 49,526 57,504 18,397 - 589 - 1,330,143
Land & riparian
rights 6,148 1,208 1,142 180 2,428 - - - 11,106
Timberlands
(less depletion) 22,715 - - - - - 175 - 22,890
Capital additions
in process 98,022 4,047 1,361 82 726 - - - 104,238
1,283,117 53,150 52,029 57,766 21,551 - 764 - 1,468,377
Deferred Charges 381 689 - - - - - - 1,070
Total Assets $1,826,145 $120,423 $182,758 $113,289 $29,460 $476 $ 1,654 $(341,144) $1,933,061
<PAGE>
CONSOLIDATED PAPERS, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 1995
Consol-
idated Newaygo Intraco./
Consolidated Niagara Lake Superior Water Foreign Forest Interco. Consol-
Papers of Superior Recycled Power Sales Products Elim- idated
Inc. Wisconsin Paper Fiber Company Corp. Limited inations Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Current Liabilities
Current maturities of
L-T debt $ 70,000 - - - - - - - $ 70,000
Leases payable - $ 1,523 - - - - - - 1,523
Accounts payable 46,599 10,472 $ 11,667 $ 3,525 - - $ 15 - 72,278
Dividends payable 185 - - - - - - - 185
Accruals
Salaries & wages 27,698 2,828 4,656 - - - - - 35,182
Interest 3,299 - - - - - - - 3,299
Income taxes 288 442 10,046 654 1 (11) - - 11,420
Property taxes 8,136 640 2,730 291 - - - - 11,797
Payroll taxes & benefits 11,272 2,402 570 - - - - - 14,244
Other accruals 16,993 3,064 730 124 340 60 - 21,311
Total Accruals 67,686 9,376 18,732 1,069 341 (11) 60 - 97,253
Total Current Liab. 184,470 21,371 30,399 4,594 341 (11) 75 - 241,239
Long-term debt
Notes Payable 197,000 - - - - - - - 197,000
Deferred Income Taxes 230,807 (5,067) (6,363) 337 4,288 - - ( 2,442) 221,560
Post-Retir. Health Care 79,726 13,247 729 - - - - - 93,702
Other Noncurr. Liab. 8,963 11,800 - - - - - - 20,763
Advances from Affil. Cos. 27,014 16,631 13,691 33,232 2,624 - - ( 93,192) -
<PAGE>
Shareholders' Investment
Common Stock
Cons. Papers, Inc. 44,624 - - - - - - - 44,624
Cons. Water Power Co. - - - - 1,000 - - ( 1,000) -
Foreign Sales Corp. - - - - - 1 - ( 1) -
Newaygo Forest Prod. - - - - - - 7,118 ( 7,118) -
44,624 - - - 1,000 1 7,118 ( 8,119) 44,624
Capital surplus 74,325 42,946 124,202 72,135 540 - - (239,823) 74,325
Reinvested earnings 981,316 19,494 20,101 2,992 20,668 486 (3,724) 2,984 1,044,317
Cum. translation adj. - - - - - - (1,817) ( 552) (2,369)
Treasury stock (2,100) - - - - - - - (2,100)
Total 1,098,165 62,440 144,303 75,127 22,208 487 1,577 (245,510) 1,158,797
Total Liabilities &
Shareholders' Investment $1,826,145 $120,422 $182,759 $113,290 $29,461 $476 $ 1,652 $(341,144) $1,933,061
<PAGE>
WISCONSIN RIVER POWER COMPANY AND SUBSIDIARY
WISCONSIN RAPIDS, WISCONSIN
BALANCE SHEET
AS OF DECEMBER 31, 1995
ASSETS
<S> <C>
Utility Plant
At cost when constructed $ 27,144
Less: Reserve for depreciation (13,840)
13,304
Other Property and Investments
Other physical property (at cost or less) 1,240
Stock - other companies (at cost) 213
1,453
Current and Accrued Asset
Cash and marketable securities (at cost) 1,310
Accounts receivable - other 6
Accounts receivable from associated companies 268
Mortgage notes receivable 26
Interest received 3
Materials and supplies 53
Prepaid expense 128
1,794
Deferred Debits
Land development 1,950
Other 244
2,194
Total Assets $ 18,745
<PAGE>
LIABILITIES AND CAPITAL
Capital Stock
Authorized 95,000 shares $100 par value $ 9,500
Less: Shares unissued (1,400) 140
Capital Stock Issued and Outstanding (93,600 Shares) 9,360
Current and Accrued Liabilities
Notes payable 53
Accounts payable 41
Accounts payable - Associated Co. -
Dividends payable -
Federal and state income taxes accrued 49
Property taxes accrued 1,010
Other accrued liabilities 174
1,327
Deferred Credits and Other Liabilities (Note 1) 173
Postretirement Benefits 166
Reinvested Earnings 7,719
Total Liabilities and Capital $ 18,745
<PAGE>
WISCONSIN RIVER POWER COMPANY AND SUBSIDIARY
WISCONSIN RAPIDS, WISCONSIN
STATEMENT OF NET INCOME AND REINVESTED EARNINGS
FOR THE TWELVE MONTHS' PERIOD ENDED DECEMBER 31, 1995
<S> <C>
Operating Revenue
Sales of electric energy $ 5,225
Sales of water and other operating revenue 59
Total Operating Revenues 5,284
Operating Expenses and Taxes
Operation 511
Maintenance 433
Administrative and General Expenses
Management and supervision fees 582
Injuries and damages 92
Other administrative and general expenses 274
Depreciation 342
Taxes
Federal and State income taxes (Note 2) 847
Property taxes 861
Other taxes 19
Total Operating Deductions 3,961
Operating Income 1,323
Other Income (Deductions) (Net) (Notes 3, 4, & 5) 5,185
Income Before Interest Charges 1,328
Interest Expense -
Net Income 1,328
STATEMENT OF REINVESTED EARNINGS
Balance, January 1, 1995 7,140
Net Income, 1995 1,328
Less: Cash dividends 749
Reinvested Earnings, December 31, 1994 $ 7,719
Note 1 - Deferred credit and other liabilities consists of the following:
1995
<S> <C>
Deferred income tax $ 84
Deferred Investment -
Tax Credit 42
Other credit and
liabilities 47
$ 173
Note 2 - Federal and State income taxes consist of the following items:
1995
<S> <C>
Current $ 802
Deferred 44
Deferred Investment -
Tax Credit 1
$ 847
Note 3 - Included in "Other Income and Deductions (Net)" are the following income tax
items:
1995
<S> <C>
Current $(10)
Deferred 11
Investment Tax Credit
Ratably Restored ( 3)
Total $( 2)
Note 4 - Included in "Other Income and Deductions (Net)" are the following amounts related
to Wisconsin River Power Company's land development projects. These amounts are
stated on a before-tax basis.
1995
<S> <C>
Land Development Sales $ 886
Less: Cost of Sales 656
Selling Expense 180
Administrative Expense 178
Income (Loss) Before Tax $(128)
Note 5 - Included in "Other Income and Deductions (Net)" are the following amounts related
to activity of the subsidiary - The Lakes Development Company, Inc. These
amounts are stated on a before-tax basis.
1995
<S> <C>
Sales $ 58
Cost of Sales -
Gross Profit 58
Less: Operating and
Maintenance Expense 62
Interest Expense 5
Total Expense 67
Other Income 25
Income (Loss) Before Tax $ 16
EXHIBIT "AA"
A sales analysis for Consolidated Water Power Company and Wisconsin River Power Company
for the calendar year ended December 31, 1995.
CONSOLIDATED WATER POWER COMPANY
WISCONSIN RAPIDS, WISCONSIN
SALES ANALYSIS
YEAR ENDED DECEMBER 31, 1995
Location KWH Revenue
<S> <C> <C>
Electric Energy
Sold at Retail
Residential and rural Village of Biron, WI 3,375,289 $ 147,829.52
Residential and rural Town of Grand Rapids, WI 5,478,020 239,781.68
Residential and rural Town of Plover, WI 4,189,887 187,346.31
Residential and rural Town of Grant, WI 341,148 17,754.64
Residential and rural Wisconsin Rapids, WI 68,618 2,529.85
Total 13,452,962 595,242.00
Electric Energy
Sold at Wholesale
WI Power & Light Co. Wisconsin Rapids, WI - -
WI Public Service Corp. Wisconsin Rapids, WI 879,000 4,920.00
WI Public Service Corp. Stevens Point, WI - -
Total 879,000 4,920.00
Interco. Sales of
Electric Energy
Consolidated Papers, Inc. Wisconsin Rapids, WI 277,463,000 6,792,875.97
Consolidated Papers, Inc. Village of Biron, WI 508,912,435 12,444,449.78
Consolidated Papers, Inc. Stevens Point, WI 135,481,700 3,318,003.06
Consolidated Papers, Inc. Village of Whiting, WI 393,029,600 9,606,626.09
Total 1,314,886,735 32,161,954.90
Interco. Sales
of Water Power
Consolidated Papers, Inc. Wisconsin Rapids, WI 4,009,500 165,395.00
Consolidated Papers, Inc. Village of Biron, WI 4,171,800 96,977.00
Consolidated Papers, Inc. Village of Whiting, WI 7,076,417 29,454.00
Total 15,257,717 291,826.00
Utility Sale of Water - 31,371.97
Miscellaneous Income - 47,517.04
Total 1,344,476,414 $33,132,831.91
<PAGE>
WISCONSIN RIVER POWER COMPANY
WISCONSIN RAPIDS, WISCONSIN
SALES ANALYSIS
YEAR ENDED DECEMBER 31, 1995
Location KWH* Revenue
<S> <C> <C>
Electric Energy Sold at Wholesale
Consolidated Water Power Co. Wisconsin Rapids, WI 66,331,000 1,741,772.00
Wisconsin Power & Light Co. Madison, WI 66,331,000 1,741,772.00
Wisconsin Public Service Corp. Stevens Point, WI 66,331,000 1,741,772.00
Total 198,993,000 5,225,316.00
Miscellaneous Income - 58,652.68
Total 198,993,000 5,283,968.68
*Each of the three purchasers of the output of the Wisconsin River Power Company by
contract is entitled to receive and is required to pay for one-third of the total output.
The above KWH figures and all billings conform to this contractual requirement. In
practice, actual deliveries vary from the contractual one-third as the result of system
conditions existing from time to time and such variations are equalized as soon as
practicable without any payment adjustment. Actual deliveries in 1995 were:
KWH
<S> <C>
Consolidated Water Power Company 66,331,000
Wisconsin Power & Light Company 66,331,000
Wisconsin Public Service Corporation 66,331,000
198,993,000
<PAGE>
EXHIBIT 27
Financial Data Schedule of Claimant and its subsidiary companies on a consolidated basis
(official Exhibit "B").
Exhibit "C" is not applicable.
The above-named Claimant has caused this statement to be duly executed on its behalf by
its authorized officer on this 27th day of February, 1996.
CONSOLIDATED PAPERS,INC.
By /s/ Patrick F. Brennan
Patrick F. Brennan
President and Chief Executive Officer
CORPORATE SEAL
Attest:
/s/ Carl R. Lemke
Carl R. Lemke, Assistant Secretary
Name, title, and address of officer to whom notices and correspondence concerning this
statement should be addressed:
Carl R. Lemke, Assistant Secretary
Consolidated Papers, Inc.
P.O. Box 8050
Wisconsin Rapids, Wisconsin 54495-8050
<PAGE>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND> This schedule contains summary financial information extracted from
the December 31, 1995 consolidated balance sheet and the consolidated
statements of income, shareholders' equity and cash flows for the
twelve-month period ended 12/31/95 is qualified in its entirety by
references to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-START> JAN-01-1995
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 1,933,061
<TOTAL-OPERATING-REVENUES> 384,750
<NET-INCOME> 229,230
</TABLE>
