<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2000
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________
Commission File Number 1-2385
------
THE DAYTON POWER AND LIGHT COMPANY
(Exact name of registrant as specified in its charter)
OHIO 31-0258470
------------------------------- ------------------------------------
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
Courthouse Plaza Southwest
Dayton, Ohio 45402
(Address of principal executive offices)
(937) 224-6000
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
YES X NO
--- ---
The registrant meets the conditions set forth in General Instruction
H(1)(a) and (b) of Form 10-Q and is therefore filing this form with
the reduced disclosure format.
Indicate the number of shares of the issuer's classes of common stock,
as of the latest practicable date.
Common Stock, $.01 par value 41,172,173 Shares
-------------------------------- ------------------------------
(Title of each class) (Outstanding at June 30, 2000)
<PAGE>
THE DAYTON POWER AND LIGHT COMPANY
INDEX
Page No.
--------
Part I. Financial Information
Item 1. Financial Statements
Consolidated Statement of Results of Operations 1
Consolidated Statement of Cash Flows 2
Consolidated Balance Sheet 3
Consolidated Statement of Shareholder's Equity 5
Notes to Consolidated Financial Statements 6
Operating Statistics 8
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 10
Item 3. Quantitative and Qualitative Disclosures about
Market Risk 12
Part II. Other Information 13
Signatures 14
i
<PAGE>
CONSOLIDATED STATEMENT OF RESULTS OF OPERATIONS
The Dayton Power and Light Company
Three Months Ended Six Months Ended
June 30 June 30
------------------ ----------------
2000 1999 2000 1999
---- ---- ---- ----
--millions-- --millions--
Revenues
--------
Utility Service Revenues--
Electric $262.8 $248.2 $522.3 $508.6
Gas 31.1 29.0 132.6 131.5
------ ------ ------ ------
Total Utility Service Revenues 293.9 277.2 654.9 640.1
Expenses
--------
Fuel and purchased power 67.1 60.9 124.9 122.1
Gas purchased for resale 17.5 14.2 85.2 80.2
Operation and maintenance 49.8 48.9 96.3 85.6
Depreciation and amortization 34.4 32.1 67.9 64.7
Amortization of regulatory assets, net 6.3 5.9 13.2 12.3
General taxes 31.3 34.1 65.7 68.3
------ ------ ------ ------
Total Expenses 206.4 196.1 453.2 433.2
------ ------ ------ ------
Operating Income 87.5 81.1 201.7 206.9
Other Income (Deductions)
-------------------------
Investment income 2.7 2.7 4.4 16.9
Other income (deductions) (0.9) (4.4) (10.2) (3.7)
Interest expense (15.8) (21.2) (34.3) (45.6)
------ ------ ------ ------
Income Before Income Taxes 73.5 58.2 161.6 174.5
Income taxes 26.4 21.3 58.4 65.8
------ ------ ------ ------
Net Income 47.1 36.9 103.2 108.7
Preferred dividends 0.2 0.2 0.4 0.4
------ ------ ------ ------
Earnings on Common Stock $ 46.9 $ 36.7 $102.8 $108.3
====== ====== ====== ======
See Notes to Consolidated Financial Statements.
These interim statements are unaudited.
-1-
<PAGE>
CONSOLIDATED STATEMENT OF CASH FLOWS
The Dayton Power and Light Company
Six Months Ended
June 30
----------------
2000 1999
---- ----
--millions--
Operating Activities
--------------------
Cash received from utility customers $681.4 $647.8
Other operating cash receipts 10.8 9.5
Cash paid for:
Fuel and purchased power (116.5) (116.7)
Purchased gas (74.2) (88.2)
Operation and maintenance labor (41.7) (38.4)
Nonlabor operating expenditures (108.9) (59.0)
Interest (32.1) (46.7)
Income taxes (63.7) (57.1)
Property, excise and payroll taxes (83.0) (77.9)
------ ------
Net cash provided by operating activities 172.1 173.3
Investing Activities
--------------------
Capital expenditures (50.7) (42.3)
Purchases of available-for-sale financial assets - (111.6)
Sales of available-for-sale financial assets - 51.5
------ ------
Net cash used for investing activities (50.7) (102.4)
Financing Activities
--------------------
Dividends paid on common stock (102.5) (55.8)
Retirement of short-term debt (111.1) (12.9)
Parent company capital contribution - 245.0
Retirement of long-term debt (0.4) (237.6)
Dividends paid on preferred stock (0.4) (0.4)
------ ------
Net cash used for financing activities (214.4) (61.7)
Cash and temporary cash investments--
-----------------------------------
Net change (93.0) 9.2
Balance at beginning of period 95.5 1.9
------ ------
Balance at end of period $ 2.5 $ 11.1
====== ======
See Notes to Consolidated Financial Statements.
These interim statements are unaudited.
-2-
<PAGE>
CONSOLIDATED BALANCE SHEET
The Dayton Power and Light Company
At At
June 30, December 31,
2000 1999
-------- ------------
--millions--
ASSETS
------
Property
--------
Electric property $3,427.8 $3,384.1
Gas property 333.3 330.6
Other property 61.4 58.9
-------- --------
Total property 3,822.5 3,773.6
Less--
Accumulated depreciation and amortization (1,669.6) (1,602.6)
-------- --------
Net property 2,152.9 2,171.0
-------- --------
Current Assets
--------------
Cash and temporary cash investments 2.5 95.5
Accounts receivable, less provision for
uncollectible accounts of $2.3 and $4.3,
respectively 181.2 206.6
Inventories, at average cost 64.3 92.9
Taxes applicable to subsequent years 72.6 94.6
Other 46.8 66.9
-------- --------
Total current assets 367.4 556.5
-------- --------
Other Assets
------------
Income taxes recoverable through future revenues 162.6 168.5
Other regulatory assets 38.1 53.3
Other assets 219.0 204.2
-------- --------
Total other assets 419.7 426.0
-------- --------
Total Assets $2,940.0 $3,153.5
======== ========
See Notes to Consolidated Financial Statements.
These interim statements are unaudited.
-3-
<PAGE>
CONSOLIDATED BALANCE SHEET
(continued)
The Dayton Power and Light Company
At At
June 30, December 31,
2000 1999
-------- ------------
--millions--
CAPITALIZATION AND LIABILITIES
------------------------------
Capitalization
--------------
Common shareholder's equity--
Common stock $ 0.4 $ 0.4
Other paid-in capital 769.8 769.7
Accumulated other comprehensive income 20.3 13.6
Earnings reinvested in the business 514.2 513.9
-------- --------
Total common shareholder's equity 1,304.7 1,297.6
Preferred stock 22.9 22.9
Long-term debt 660.9 661.2
-------- --------
Total capitalization 1,988.5 1,981.7
-------- --------
Current Liabilities
-------------------
Accounts payable 76.5 126.2
Accrued taxes 107.4 164.2
Accrued interest 19.8 19.7
Short-term debt 12.0 123.1
Current deferred income tax 30.2 9.9
Other 25.1 51.0
-------- --------
Total current liabilities 271.0 494.1
-------- --------
Deferred Credits and Other
--------------------------
Deferred taxes 441.5 453.9
Unamortized investment tax credit 64.8 66.3
Deferred compensation 101.2 97.2
Other 73.0 60.3
-------- --------
Total deferred credits and other 680.5 677.7
-------- --------
Total Capitalization and Liabilities $2,940.0 $3,153.5
======== ========
See Notes to Consolidated Financial Statements.
These interim statements are unaudited.
-4-
<PAGE>
<TABLE>
<CAPTION>
CONSOLIDATED STATEMENT OF SHAREHOLDER'S EQUITY
The Dayton Power and Light Company
Six Months Ended June 30, 2000 and 1999
Common Shares Accum. Earnings
------------------- Other Other Reinvested
Outstanding Paid-In Comp. in the
$ in millions Shares Amount Capital Income Business Total
-----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2000:
Beginning balance 41,172,173 $0.4 $ 769.7 $13.6 $513.9 $1,297.6
Net income 103.2
Unrealized gains, net
of reclassification
adjustments, after tax 6.7
Total comprehensive income 109.9
Common stock dividends (102.5) (102.5)
Preferred stock dividends (0.4) (0.4)
Other 0.1 0.1
----------------------------------------------------------------------------------
Ending balance 41,172,173 $0.4 $ 769.8 $20.3 $514.2 $1,304.7
==================================================================================
1999:
Beginning balance 41,172,173 $0.4 $ 788.2 $33.6 $450.8 $1,273.0
Net income 108.7
Unrealized gains,net
of reclassification
adjustments, after tax 3.2
Total comprehensive income 111.9
Common stock dividends (81.9) (81.9)
Preferred stock dividends (0.4) (0.4)
Parent company capital
contribution 245.0 245.0
Other 0.1 (0.1)
----------------------------------------------------------------------------------
Ending balance 41,172,173 $0.4 $1,033.3 $36.8 $477.1 $1,547.6
==================================================================================
</TABLE>
See Notes to Consolidated Financial Statements.
These interim statements are unaudited.
-5-
<PAGE>
Notes to Consolidated Financial Statements
1. The Dayton Power and Light Company ("the Company") has prepared
the consolidated financial statements in this report without audit,
pursuant to the rules and regulations of the Securities and Exchange
Commission ("SEC"). Certain information and footnote disclosures normally
included in financial statements prepared in accordance with generally
accepted accounting principles have been condensed or omitted pursuant
to such rules and regulations. These consolidated financial
statements should be read in conjunction with the consolidated
financial statements and notes thereto in the Company's 1999 Annual
Report on Form 10-K.
2. Reclassifications have been made in certain prior years' amounts
to conform to the current reporting presentation of the Company.
In the opinion of management, the information included in this
Form 10-Q reflects all adjustments that are necessary for a fair
statement of the results of operations for the periods presented. Any
adjustments are of a normal recurring nature.
3. Costs associated with all planned major repair and maintenance
activities, primarily power plant outages, are recognized at the time
the work is performed. Outage costs include labor, materials and
supplies, and outside services required to maintain company equipment
and facilities. These costs are either capitalized or expensed based
on Company defined criteria, identifying specific units of property to
be capitalized.
4. Business Segment Reporting
The Company provides energy services to its customers within a
6,000 square mile territory. The Company sells and distributes
electricity and natural gas to residential, commercial, industrial and
governmental customers. As a result of legislation that will give
electric utility customers a choice of energy providers starting
January 1, 2001, the Company has begun aligning its business units.
For purposes of the segment disclosure required by the FASB Statement
No. 131, "Disclosure About Segments of an Enterprise and Related
Information," the Company's results are classified into two segments,
electric and natural gas.
-6-
<PAGE>
SEGMENT INFORMATION
For the three months For the six months
ended June 30, ended June 30,
-------------------- ------------------
$ in millions 2000 1999 2000 1999
-----------------------------------------------------------------------------
$ $ $ $
ELECTRIC
--------
Revenues from external customers 262.8 248.2 522.3 508.6
Intersegment revenues - 0.6 - 1.3
Earnings before interest and taxes 93.4 79.3 189.3 181.1
NATURAL GAS
-----------
Revenues from external customers 31.1 29.0 132.6 131.5
Intersegment revenues 0.7 1.0 1.2 1.8
Earnings before interest and taxes - 2.8 20.2 26.6
TOTAL
-----
Revenues from external customers 293.9 277.2 654.9 640.1
Intersegment revenues 0.7 1.6 1.2 3.1
Earnings before interest and taxes 93.4 82.1 209.5 207.7
Profit or Loss Reconciliation (a)
---------------------------------
Total earnings before interest
and taxes 93.4 82.1 209.5 207.7
Unallocated corporate expenses (5.9) (1.0) (7.8) (0.8)
Investment income 2.7 2.7 4.4 16.9
Other income and deductions (0.9) (4.4) (10.2) (3.7)
Interest expense (15.8) (21.2) (34.3) (45.6)
----- ----- ----- -----
Income before income taxes 73.5 58.2 161.6 174.5
(a) For categories not reconciled above, segment totals equal
consolidated totals.
-7-
<PAGE>
OPERATING STATISTICS
The Dayton Power and Light Company
Three Months Ended Six Months Ended
June 30 June 30
------------------ ----------------
2000 1999 2000 1999
---- ---- ---- ----
Electric
--------
Sales (millions of kWh)--
Residential 1,008 943 2,348 2,357
Commercial 881 852 1,706 1,650
Industrial 1,265 1,316 2,423 2,439
Other 1,087 936 1,959 1,844
------- ------- ------- -------
Total 4,241 4,047 8,436 8,290
Revenues (thousands of dollars)--
Residential 92,406 87,960 203,274 202,061
Commercial 60,902 59,479 117,929 114,728
Industrial 61,537 62,928 117,024 117,711
Other 47,961 37,831 84,082 74,124
------- ------- ------- -------
Total 262,806 248,198 522,309 508,624
Other Electric Statistics--
Average price per kWh-retail and
wholesale customers (cents) 6.11 6.05 6.11 6.05
Fuel cost per net kWh generated (cents) 1.18 1.28 1.18 1.27
Electric customers at end of period 496,559 491,568 496,559 491,568
Average kWh use per residential customer 2,279 2,150 5,307 5,373
Peak demand-maximum one hour
use (MW), (net) 2,717 2,968 2,717 2,968
-8-
<PAGE>
OPERATING STATISTICS
(continued)
The Dayton Power and Light Company
Three Months Ended Six Months Ended
June 30 June 30
------------------ ----------------
2000 1999 2000 1999
---- ---- ---- ----
Gas
---
Sales (millions of MCF)--
Residential 3,035 2,474 14,669 15,662
Commercial 859 918 4,413 4,865
Industrial 534 233 1,600 1,470
Other 141 143 611 816
Transportation gas delivered 4,141 3,806 11,034 10,319
------- ------- ------- -------
Total 8,710 7,574 32,327 33,132
Revenues (thousands of dollars)--
Residential 19,379 17,281 86,607 85,896
Commercial 5,100 5,053 24,757 24,675
Industrial 2,503 1,218 8,158 7,045
Other 4,161 5,466 13,101 13,915
------- ------- ------- -------
Total 31,143 29,018 132,623 131,531
Other Gas Statistics--
Average price per MCF-retail 6.08 6.44 5.77 5.33
customers (dollars)
Gas customers at end of period 309,486 305,145 309,486 305,145
Degree Days (based on calendar month)--
Heating 522 455 3,128 3,298
Cooling 285 313 285 313
-9-
<PAGE>
Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations.
-----------------------------------------------------------
This report contains certain forward-looking statements regarding
plans and expectations for the future. Investors are cautioned that
actual outcomes and results may vary materially from those projected
due to various factors beyond the Company's control, including
abnormal weather, unusual maintenance or repair requirements, changes
in fuel costs, increased competition, regulatory changes and
decisions, changes in accounting rules and adverse economic
conditions.
The Company's earnings on common stock for the second quarter of
2000 were $46.9 million, up 28% from $36.7 million earned in the
second quarter a year ago. Earnings were $102.8 million year-to-date,
5% lower than the earnings of $108.3 million for the same period in
1999.
The earnings increase compared to the second quarter of last year
is primarily attributable to increased revenue and decreased general
taxes and interest expense, partially offset by increased depreciation
expense and higher income taxes. The earnings reduction for the first
half of 2000 compared to last year is primarily due to increased
operation and maintenance expenses and decreased investment income,
partially offset by increased revenues.
Financial Condition
-------------------
At June 30, 2000, the Company's cash and temporary cash
investment balance was $2.5 million.
DPL Inc. and its subsidiaries have $300 million available through
Revolving Credit Agreements ("Credit Agreements"). At June 30, 2000,
DPL Inc. had no borrowings outstanding under these Credit Agreements.
DPL Inc. also has $15 million available in a short-term informal line
of credit. At June 30, 2000, DPL Inc. had no borrowings outstanding
from this line. The Company has $75 million available in short-term
informal lines of credit. At June 30, 2000, the Company had no
borrowings outstanding under these informal lines and $12 million in
commercial paper outstanding.
The Company currently has sufficient capacity to issue First
Mortgage Bonds to satisfy its requirements in connection with the
financing of its construction and refinancing programs during the five-
year period 2000-2004.
Construction plans are subject to continuing review and are
expected to be revised in light of changes in financial and economic
conditions, load forecasts, legislative and regulatory developments
and changing environmental standards, among other factors. The
Company's ability to complete its capital projects and the reliability
of future service will be affected by its financial condition and the
availability of external funds at reasonable cost.
-10-
<PAGE>
Results of Operations
---------------------
Electric revenues increased $14.6 million and $13.7 million over
last year's second quarter and year-to-date periods, respectively,
primarily due to higher sales to retail customers and to other utilities.
Gas revenues increased $2.1 million from the second quarter last year
primarily due to higher sales to residential customers as the result of
cooler weather in the second quarter. For year-to-date compared to last
year, gas revenues increased $1.1 million primarily due to the impact
of higher gas cost recovery factors on revenue, partially offset by
lower sales attributable to warmer weather in the first quarter.
Fuel and purchased power increased $6.2 million and $2.8 million
over the second quarter and year-to-date 1999 periods, respectively,
primarily due to higher purchased power expense because of additional
planned power plant outages for maintenance.
Gas purchased for resale in the second quarter increased $3.3
million compared to the same quarter last year primarily because of a
21% increase in retail sales coupled with higher gas costs. For year-
to-date compared to last year, gas purchased for resale increased
$5.0 million primarily due to higher gas costs.
Operation and maintenance expense increased $0.9 million from the
second quarter last year primarily due to increased planned power
plant maintenance. For year-to-date, operation and maintenance
expense increased $10.7 million over the same period a year ago
primarily due to increased power production costs, uncollectible
expense, insurance costs, and compensation plan expenses.
Depreciation and amortization increased $2.3 million and $3.2
million over the second quarter and year-to-date a year ago,
respectively, primarily because of increased property investment.
General taxes decreased $2.8 million from second quarter last year
and $2.6 million from year-to-date 1999, primarily due to recognition
of the Ohio Public Utility Excise Tax coal credit.
As a result of moving the financial assets from the Company to
DPL Inc. investment income decreased $12.5 million for year-to-date
compared to 1999. Other deductions decreased $3.5 million from the
second quarter a year ago primarily because of that transfer and
increased $6.5 million from year-to-date last year primarily because
of investment monitoring fees, compensation expense and lower
non-utility net revenue.
Interest expense decreased $5.4 million from the second quarter
of 1999 and $11.3 million from year-to-date 1999 primarily because of
a reduction in first mortgage bonds.
Income taxes increased $5.1 million for the second quarter of
1999 because of higher taxable income in the quarter and decreased
$7.4 million from year-to-date 1999 because of lower taxable income
year-to-date.
-11-
<PAGE>
Issues and Financial Risks
--------------------------
Previously expected during the second quarter, the Company now
expects the sale of its natural gas retail distribution business to be
completed in the second half of the year, pending final approvals. To
date, both the Department of Justice and the Public Utilities
Commission of Ohio ("PUCO") have given their approvals. SEC approval
of the Vectren structure is pending and is expected to be received
by year-end.
The Compact Agreement between the Company and Local 175, Utility
Workers of America, AFL-CIO expired on October 31, 1999. Management
and Union Negotiations Committees have been discussing provisions of a
new agreement that would be responsive to the changes in business
conditions resulting from the Ohio legislation regarding energy
companies. On May 22, 2000, the Company implemented the provisions of
its final offer for a new labor agreement.
Item 3. Quantitative and Qualitative Disclosures about Market Risk.
-----------------------------------------------------------
The carrying value of the Company's debt was $785 million at
December 31, 1999, consisting of the Company's first mortgage bonds and
guaranteed air quality development obligations, notes and commercial
paper. The fair value of this debt was $776 million, based on current
market prices or discounted cash flows using current rates for similar
issues with similar terms and remaining maturities. The following
table presents the principal cash repayments and related weighted
average interest rates by maturity date for long-term, fixed-rate debt
at December 31, 1999.
Expected Maturity Date
-------------------------------- There- Fair
2000 2001 2002 2003 2004 after Total Value
--------------------------------------------------------
Long-term Debt
--------------
Amount($ in millions) $0.4 $0.4 $0.4 $0.4 $0.4 $660.8 $662.8 $651.4
Average rate 6.4% 6.4% 6.4% 6.4% 6.4% 7.4% 7.4%
Because the long-term debt is at a fixed rate, the primary market
risk to the Company is short-term interest rate risk. The carrying
value and fair value of short-term debt was $125 million with a
weighted average interest rate of 5.9% at December 31, 1999. The
carrying value and fair value of short-term debt has been reduced to
$12 million as of June 30, 2000. The interest expense risk related to
short-term debt at December 31, 1999 was estimated to be approximately
an increase/decrease of $0.5 million if the weighted average cost for
each quarter increased/decreased by 10%. With the reduction in short-
term debt in the second quarter 2000, the interest expense risk has
become negligible.
The fair value of available-for-sale securities was $122 million
and $62 million at June 30, 2000 and December 31, 1999, respectively.
The equity price risk related to these securities was estimated as the
potential increase/decrease in fair value of $12 million and
$6 million at June 30, 2000 and December 31, 1999, respectively, that
resulted from a hypothetical 10% increase/decrease in the market
prices.
As of June 30, 2000, there have been no other material changes in
the above information since the end of the preceding fiscal year.
-12-
<PAGE>
Part II. Other Information
Item 5. Other Information.
------------------
Rate Regulation and Government Legislation
------------------------------------------
In October 1999, legislation became effective in Ohio that will
give electric utility customers a choice of energy providers starting
January 1, 2001. Under the legislation, electric generation,
aggregation, power marketing and power brokerage services supplied to
retail customers in Ohio will be deemed competitive and will not be
subject to supervision and regulation by the PUCO. As required by the
legislation, the Company filed its transition plan at the PUCO on
December 20, 1999. The review and hearing process was completed with
the PUCO on June 21, 2000, with the Company reaching agreement with
major groups participating in the filing, including the Staff of the
PUCO. Final PUCO approval of the plan is expected in the third quarter
of 2000.
The plan, which begins in January, provides a three-year
transition period ending December 31, 2003, at which time the
Company's generation business unit will be exempt from state regulation.
The plan also provides the organizational and financial flexibility for
the Company to continue its corporate realignment initiatives. The
Company has functionally separated its generation, transmission, and
distribution business units and has announced the sale of its natural
gas retail distribution operations. The Company has received approval
from the Department of Justice and the PUCO for the sale of the gas
business and the transfer of assets. SEC approval is expected by the
end of 2000.
The following groups have signed the transition plan agreement:
The Staff of the PUCO; The Office of the Ohio Consumers' Counsel; The
Ohio Manufacturers' Association; Industrial Energy Users - Ohio; Ohio
Council of Retail Merchants; American Municipal Power-Ohio; WPS Energy
Services, Inc.; Exelon Energy; The Association for Hospitals and
Health Systems, the Ohio Hospital Association; New Energy Midwest,
L.L.C.; Columbia Energy Services Corporation; Columbia Energy Power
Marketing Corporation; Strategic Energy, L.L.C.; Supporting Council of
Preventative Effort (SCOPE); Montgomery County Prosecutors' Office;
Ohio Department of Development; Ohio Partners for Affordable Energy;
Buckeye Power, Inc.; and Ohio Rural Electric Cooperatives, Inc.
Environmental Considerations
----------------------------
In June 2000, the Unites States Environmental Protection Agency
("EPA") issues to J.M. Stuart Station a Notice of Violation ("NOV")
for alleged violations of the Clean Air Act. The NOV contained
allegations consistent with NOV's and complaints that the EPA has
recently brought against numerous other coal-fired utilities in the
Midwest. The Company will vigorously challenge the NOV. At this time, it
is not possible to determine the outcome of this claim or the impact,
if any, on the Company.
-13-
<PAGE>
Item 6. Exhibits and Reports on Form 8-K.
---------------------------------
(a) The following exhibit is filed herewith:
Exhibit No. Description
----------- -----------
27 Financial Data Schedule
(b) Reports on Form 8-K.
No reports on Form 8-K were filed by the Company during the
quarter ended June 30, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
THE DAYTON POWER AND LIGHT COMPANY
----------------------------------
(Registrant)
Date: August 14, 2000 /s/ Elizabeth M. McCarthy
--------------- -------------------------
Elizabeth M. McCarthy
Vice President and Chief Accounting Officer
Date: August 14, 2000 /s/ Stephen F. Koziar, Jr.
--------------- --------------------------
Stephen F. Koziar, Jr.
Group Vice President and Secretary
-14-
