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<PAGE>
Form U-13-60
Mutual and Subsidiary Service Companies
Revised February 7, 1980
ANNUAL REPORT
FOR THE PERIOD
Beginning January 1, 1994 and Ending December 31, 1994
TO THE
U. S. SECURITIES AND EXCHANGE COMMISSION
OF
American Electric Power Service Corporation
(Exact Name of Reporting Company)
A Subsidiary Service Company
Date of Incorporation December 17, 1937. If not Incorporated,
Date of Organization
State or Sovereign Power under which Incorporated or Organized
New York
Location of Principal Executive Offices of Reporting Company
1 Riverside Plaza, Columbus, Ohio 43215
Name, title, and address of officer to whom correspondence
concerning this report should be addressed:
1 Riverside Plaza
Gerald R. Knorr Assistant Treasurer Columbus, Ohio 43215
(Name) (Title) (Address)
Name of Principal Holding Company under which Reporting Company is
organized:
AMERICAN ELECTRIC POWER COMPANY, INC.
<PAGE>
1
INSTRUCTIONS FOR USE OF FORM U-13-60
1. Time of Filing.--Rule 94 provides that on or before the first
day of May in each calendar year, each mutual service company and
each subsidiary service company as to which the Commission shall
have made a favorable finding pursuant to Rule 88, and every
service company whose application for approval or declaration
pursuant to Rule 88 is pending shall file with the Commission an
annual report on Form U-13-60 and in accordance with the Instruc-
tions for that form.
2. Number of Copies.--Each annual report shall be filed in dupli-
cate. The company should prepare and retain at least one extra
copy for itself in case correspondence with reference to the
report becomes necessary.
3. Period Covered by Report.--The first report filed by any
company shall cover the period from the date the Uniform System of
Accounts was required to be made effective as to that company
under Rules 82 and 93 to the end of that calendar year. Sub-
sequent reports should cover a calendar year.
4. Report Format.--Reports shall be submitted on the forms pre-
pared by the Commission. If the space provided on any sheet of
such form is inadequate, additional sheets may be inserted of the
same size as a sheet of the form or folded to such size.
5. Money Amounts Displayed.--All money amounts required to be
shown in financial statements may be expressed in whole dollars,
in thousands of dollars or in hundred thousands of dollars, as
appropriate and subject to provisions of Regulation S-X
(S210.3-01(b)).
6. Deficits Displayed.--Deficits and other like entries shall be
indicated by the use of either brackets or a parenthesis with
corresponding reference in footnotes. (Regulation S-X,
S210.3-01(c)).
7. Major Amendments or Corrections.--Any company desiring to
amend or correct a major omission or error in a report after it
has been filed with the Commission shall submit an amended report
including only those pages, schedules, and entries that are to be
amended or corrected. A cover letter shall be submitted request-
ing the Commission to incorporate the amended report changes and
shall be signed by a duly authorized officer of the company.
8. Definitions.--Definitions contained in Instruction 01-8 to the
Uniform System of Accounts for Mutual Service Companies and Sub-
sidiary Service Companies, Public Utility Holding Company Act of
1935, as amended February 2, 1979 shall be applicable to words or
terms used specifically within this Form U-13-60.
9. Organization Chart.--The service company shall submit with
each annual report a copy of its current organization chart.
(Cont'd)
<PAGE>
1A
INSTRUCTIONS FOR USE OF FORM U-13-60
10. Methods of Allocation.--The service company shall submit with
each annual report a listing of the currently effective methods of
allocation being used by the service company and on file with the
Securities and Exchange Commission pursuant to the Public Utility
Holding Company Act of 1935.
11. Annual Statement of Compensation for Use of Capital Billed.--
The service company shall submit with each annual report a copy of
the annual statement supplied to each associate company in support
of the amount of compensation for use of capital billed during the
calendar year.<PAGE>
2
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS
Page
Number
Schedule
Description of Schedules and Accounts or Account
Number
COMPARATIVE BALANCE SHEET Schedule I 4-5
SERVICE COMPANY PROPERTY Schedule II 6-7
ACCUMULATED PROVISION FOR
DEPRECIATION AND AMORTIZATION
OF SERVICE COMPANY PROPERTY Schedule III 8
INVESTMENTS Schedule IV 9
ACCOUNTS RECEIVABLE FROM ASSOCIATE
COMPANIES Schedule V 10
FUEL STOCK EXPENSES UNDISTRIBUTED Schedule VI 11
STORES EXPENSE UNDISTRIBUTED Schedule VII 12
MISCELLANEOUS CURRENT AND ACCRUED
ASSETS Schedule VIII 13
MISCELLANEOUS DEFERRED DEBITS Schedule IX 14
RESEARCH, DEVELOPMENT, OR DEMONSTRATION
EXPENDITURES Schedule X 15
PROPRIETARY CAPITAL Schedule XI 16
LONG-TERM DEBT Schedule XII 17
CURRENT AND ACCRUED LIABILITIES Schedule XIII 18
NOTES TO FINANCIAL STATEMENTS Schedule XIV 19
COMPARATIVE INCOME STATEMENT Schedule XV 20
ANALYSIS OF BILLING - ASSOCIATE
COMPANIES Account 457 21
ANALYSIS OF BILLING - NONASSOCIATE
COMPANIES Account 458 22
ANALYSIS OF CHARGES FOR SERVICE -
ASSOCIATE AND NONASSOCIATE COMPANIES Schedule XVI 23
SCHEDULE OF EXPENSE BY DEPARTMENT OR
SERVICE FUNCTION Schedule XVII 24-25
DEPARTMENTAL ANALYSIS OF SALARIES Account 920 26
OUTSIDE SERVICES EMPLOYED Account 923 27
EMPLOYEE PENSIONS AND BENEFITS Account 926 28
GENERAL ADVERTISING EXPENSES Account 930.1 29
MISCELLANEOUS GENERAL EXPENSES Account 930.2 30
RENTS Account 931 31
TAXES OTHER THAN INCOME TAXES Account 408 32
DONATIONS Account 426.1 33
OTHER DEDUCTIONS Account 426.5 34
NOTES TO STATEMENT OF INCOME Schedule XVIII 35
3
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS
Page
Number
Description of Reports or Statements
ORGANIZATION CHART 36
METHODS OF ALLOCATION 37
ANNUAL STATEMENT OF COMPENSATION FOR USE OF
CAPITAL BILLED 38
SIGNATURE CLAUSE 39
<PAGE>
<TABLE>
4
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE I - COMPARATIVE BALANCE SHEET
Give balance sheet of the company as of December 31 of the current and prior
year.
ACCOUNT ASSETS AND OTHER DEBITS AS OF DECEMBER 31
CURRENT PRIOR
(In Thousands)
<S> <S> <C> <C>
SERVICE COMPANY PROPERTY
101 Service company property (Schedule II) $200,220 $195,689
107 Construction work in progress (Schedule II) -- 3
Total Property 200,220 195,692
108 Less accumulated provision for depreciation and
amortization of service company property
(Schedule III) 59,817 57,005
Net Service Company Property 140,403 138,687
INVESTMENTS
123 Investments in associate companies (Schedule IV) -- --
124 Other investments (Schedule IV) 8,393 5,821
Total Investments 8,393 5,821
CURRENT AND ACCRUED ASSETS
131 Cash -- 2
134 Special deposits 452 567
135 Working funds 171 173
136 Temporary cash investments (Schedule IV) -- --
141 Notes receivable 36 25
143 Accounts receivable 183 73
144 Accumulated provision for uncollectible
accounts -- --
146 Accounts receivable from associate
companies (Schedule V) 68,652 59,463
152 Fuel stock expenses undistributed (Schedule VI) -- --
154 Materials and supplies -- --
163 Stores expense undistributed (Schedule VII) -- --
165 Prepayments 1,418 1,713
174 Miscellaneous current and accrued
assets (Schedule VIII) -- --
Total Current and Accrued Assets 70,912 62,016
DEFERRED DEBITS
181 Unamortized debt expense 7,194 7,868
184 Clearing accounts -- --
186 Miscellaneous deferred debits (Schedule IX) 5,033 4,568
188 Research, development, or demonstration
expenditures (Schedule X) -- --
190 Accumulated deferred income taxes 18,296 17,412
Total Deferred Debits 30,523 29,848
TOTAL ASSETS AND OTHER DEBITS $250,231 $236,372
</TABLE>
<PAGE>
<TABLE>
5
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE I - COMPARATIVE BALANCE SHEET
ACCOUNT LIABILITIES AND PROPRIETARY CAPTIAL AS OF DECEMBER 31
CURRENT PRIOR
(In Thousands)
<S> <S> <C> <C>
PROPRIETARY CAPITAL
201 Common stock issued (Schedule XI) $ 1,350 $ 1,350
211 Miscellaneous paid-in-capital (Schedule XI) -- --
215 Appropriated retained earnings (Schedule XI) -- --
216 Unappropriated retained earnings (Schedule XI) -- --
Total Proprietary Capital 1,350 1,350
LONG-TERM DEBT
223 Advances from associate companies (Schedule XII) 1,100 1,100
224 Other long-term debt (Schedule XII) 85,000 90,000
225 Unamortized premium on long-term debt -- --
226 Unamortized discount on long-term debt-debit -- --
Total Long-term Debt 86,100 91,100
OTHER NONCURRENT LIABILITIES
224.5 Obligations under capital leases 37,307 31,574
224.6 Other 10,337 6,895
Total Other Noncurrent Liabilities 47,644 38,469
CURRENT AND ACCRUED LIABILITIES
231 Notes payable 2,826 3,997
232 Accounts payable 7,921 5,644
233 Notes payable to associate companies
(Schedule XIII) -- --
234 Accounts payable to associate companies
(Schedule XIII) 31,410 20,804
236 Taxes accrued 2,815 6,120
237 Interest accrued 416 431
238 Dividends declared -- --
241 Tax collections payable 252 349
242 Miscellaneous current and accrued liabilities
(Schedule XIII) 33,217 30,907
Total Current and Accrued Liabilities 78,857 68,252
DEFERRED CREDITS
253 Other deferred credits 8,502 9,060
255 Accumulated deferred investment tax credits 1,359 1,735
Total Deferred Credits 9,861 10,795
282 ACCUMULATED DEFERRED INCOME TAXES 26,419 26,406
TOTAL LIABILITIES AND PROPRIETARY CAPITAL $250,231 $236,372
Note: Other Long-Term Debt and Obligations Under Capital Leases include
amounts due within one year. See notes 6 and 7, Schedule XIV. Other
noncurrent liabilities include amounts due within one year of $623,000
at December 31, 1994 and $494,000 at December 31, 1993.
</TABLE>
<PAGE>
<TABLE>
6
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE II - SERVICE COMPANY PROPERTY
<CAPTION>
BALANCE AT RETIREMENTS OTHER BALANCE AT
BEGINNING ADDITIONS OR CHANGES 1/ CLOSE OF
DESCRIPTION OF YEAR SALES YEAR
(In Thousands)
SERVICE COMPANY PROPERTY
Account
<S> <C> <C> <C> <C> <C>
301 ORGANIZATION $ -- $ -- $ -- $ -- $ --
303 MISCELLANEOUS
INTANGIBLE PLANT -- -- -- -- --
304 LAND AND LAND RIGHTS 5,108 -- -- -- 5,108
305 STRUCTURES AND
IMPROVEMENTS 140,710 9 -- -- 140,719
306 LEASEHOLD IMPROVEMENTS 422 -- -- -- 422
307 EQUIPMENT 2/ -- -- -- -- --
308 OFFICE FURNITURE AND
EQUIPMENT 1,019 -- -- -- 1,019
309 AUTOMOBILES, OTHER
VEHICLES AND RELATED
GARAGE EQUIPMENT -- -- -- -- --
310 AIRCRAFT AND AIRPORT
EQUIPMENT -- -- -- -- --
311 OTHER SERVICE COMPANY
PROPERTY 3/ 48,430 25,176 20,654 -- 52,952
SUB-TOTAL 195,689 25,185 20,654 -- 200,220
107 CONSTRUCTION WORK IN
PROGRESS 4/ 3 25,182 -- (25,185) --
TOTAL $195,692 $50,367 $20,654 $(25,185) $200,220
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
The amount of $25,185,000 represents assets transferred to "in-service"
during 1994.
</TABLE>
<PAGE>
<TABLE>
7
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE II - CONTINUED
2/ SUBACCOUNTS ARE REQUIRED FOR EACH CLASS OF EQUIPMENT OWNED. THE SERVICE COMPANY
SHALL PROVIDE A LISTING BY SUBACCOUNT OF EQUIPMENT ADDITIONS DURING THE YEAR AND
THE BALANCE AT THE CLOSE OF THE YEAR:
BALANCE AT
SUBACCOUNT DESCRIPTION ADDITIONS CLOSE OF YEAR
<S> <C> <C>
None
TOTAL $ -0- $ -0-
</TABLE>
3/ DESCRIBE OTHER SERVICE COMPANY PROPERTY:
Includes leased assets at December 31, 1994 ($52,930,000) which have been
capitalized in accordance with FASB Statement Nos. 13 and 71 and other owned
assets at December 31, 1994 ($22,000).
4/ DESCRIBE CONSTRUCTION WORK IN PROGRESS:
None
<PAGE>
<TABLE>
8
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE III
ACCUMULATED PROVISION FOR DEPRECIATION
AND AMORTIZATION OF SERVICE COMPANY PROPERTY
<CAPTION>
BALANCE AT ADDITIONS OTHER CHANGES BALANCE AT
DESCRIPTION BEGINNING CHARGED RETIREMENTS ADD (DEDUCT) CLOSE OF
OF YEAR TO 1/ YEAR
ACCOUNT 403
Account (In Thousands)
<S> <C> <C> <C> <C> <C>
301 ORGANIZATION $ -- $ -- $ -- $ -- $ --
303 MISCELLANEOUS
INTANGIBLE
PLANT -- -- -- -- --
304 LAND AND LAND
RIGHTS -- -- -- -- --
305 STRUCTURES AND
IMPROVEMENTS 39,861 3,961 -- -- 43,822
306 LEASEHOLD
IMPROVEMENTS 204 15 -- 5 224
307 EQUIPMENT -- -- -- -- --
308 OFFICE
FURNITURE AND
FIXTURES 106 41 -- -- 147
309 AUTOMOBILES,
OTHER VEHICLES
AND RELATED
GARAGE EQUIPMENT -- -- -- -- --
310 AIRCRAFT AND
AIRPORT EQUIPMENT -- -- -- -- --
311 OTHER SERVICE
COMPANY PROPERTY 16,834 1 10,141 8,930 15,624
TOTAL $57,005 $4,018 $10,141 $8,935 $59,817
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
Includes current year's amortization of leased assets.
</TABLE>
<PAGE>
<TABLE>
9
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE IV - INVESTMENTS
INSTRUCTIONS: Complete the following schedule concerning investments.
Under Account 124, "Other Investments", state each investment
separately, with description, including, the name of issuing
company, number of shares or principal amount, etc.
Under Account 136, "Temporary Cash Investments", list each
investment separately.
<CAPTION>
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE
OF YEAR OF YEAR
(In Thousands)
<S> <C> <C>
ACCOUNT 123 - INVESTMENT IN ASSOCIATE COMPANIES
None
ACCOUNT 124 - OTHER INVESTMENTS
Cash Surrender Value of Life
Insurance Policies (net of policy
loans and accrued interest) $3,471 $4,083
Umbrella Trust 2,279 4,228
Notes Receivable Constructive
Marketing Program 71 82
Sub-Total Other Investments 5,821 8,393
ACCOUNT 136 - TEMPORARY CASH INVESTMENTS
None
TOTAL $5,821 $8,393
</TABLE>
<PAGE>
<TABLE>
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION 10
For the Year Ended December 31, 1994
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable from
each associate company. Where the service company has provided
accommodation or convenience payments for associate companies, a
separate listing of total payments for each associate company by
subaccount should be provided.
<CAPTION>
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM (In Thousands)
ASSOCIATE COMPANIES
<S> <C> <C>
Associate Companies
AEP Energy Services, Inc. $ 82 $ 150
AEP Generating Company 509 1,140
AEP Resources, Inc. -- 8
American Electric Power Company, Inc. 81 83
Appalachian Power Company 19,250 28,024
Appalachian Power Company (Commercial PFBC) 3 2
Appalachian/Ohio Power Joint Account (Amos) 161 190
Appalachian/Ohio Power Joint Account (Sporn) 139 89
Blackhawk Coal Company/Price River Coal Company 9 15
Cardinal Operating Company 262 165
Cedar Coal Co. 17 10
Central Appalachian Coal Company 1 1
Central Coal Company 1 2
Central Ohio Coal Company 257 248
Central Operating Company 35 28
Columbus Southern Power Company 11,625 12,078
Columbus Southern Power (Zimmer Conversion Project) 1 --
Conesville Coal Preparation Company 75 75
Indiana Michigan Power Company 9,606 12,861
Indiana Michigan Power/AEP Generating Joint
Account (Rockport) 538 323
SUB-TOTAL 42,652 55,492
<CAPTION>
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS: TOTAL
PAYMENTS
BY COMPANY: (In Thousands)
<S> <C>
Associate Companies
AEP Energy Services, Inc. $ 15
AEP Generating Company 7
AEP Investments, Inc. 1
American Electric Power Company, Inc. 455
Appalachian Power Company 213,135
Appalachian/Ohio Power Joint Account (Amos) 137
Appalachian/Ohio Power Joint Account (Sporn) 59
Blackhawk Coal Company/Price River Coal Company 31
Cardinal Operating Company 110
Cedar Coal Co. 4
Central Appalachian Coal Company 3
SUB-TOTAL PAYMENTS 213,957
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION 10A
For the Year Ended December 31, 1994
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable from
each associate company. Where the service company has provided
accommodation or convenience payments for associate companies, a
separate listing of total payments for each associate company by
subaccount should be provided.
<CAPTION>
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM (In Thousands)
ASSOCIATE COMPANIES
<S> <C> <C>
Sub-Total Brought Forward 42,652 55,492
Indiana Michigan Power Company-Water Transportation 291 309
Kanawha Valley Power Company 8 5
Kentucky Power Company 2,184 2,171
Kingsport Power Company 268 211
Ohio Power Company 10,650 8,469
Ohio Power Company-Cook Coal Terminal 99 109
Ohio Power Company (Gavin) 742 425
Ohio Power Company (Tidd PFBC) 2 1
Simco, Inc. 1 1
Southern Appalachian Coal Company 4 13
Southern Ohio Coal Company 1,074 679
Wheeling Power Company 345 201
Windsor Coal Company 336 174
Statutory Subsidiaries
Indiana-Kentucky Electric Corporation 579 252
Ohio Valley Electric Corporation 228 140
TOTAL $59,463 $68,652
<CAPTION>
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS: TOTAL
PAYMENTS
(In Thousands)
<S> <C>
Sub-Total Brought Forward 213,957
Central Coal Company 3
Central Ohio Coal Company 997
Central Operating Company 1,264
Colomet, Inc. 7
Columbus Southern Power Company 109,772
Conesville Coal Preparation Company 118
Franklin Real Estate Company (1)
Indiana Michigan Power Company 13,907
Indiana Michigan Power/AEP Generating Joint Account (Rockport) 250
Indiana Michigan Power Company-Water Transportation 1,449
Kanawha Valley Power Company 40
Kentucky Power Company 3,295
Kingsport Power Company 486
SUB-TOTAL PAYMENTS 345,544
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION 10B
For the Year Ended December 31, 1994
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable from
each associate company. Where the service company has provided
accommodation or convenience payments for associate companies, a
separate listing of total payments for each associate company by
subaccount should be provided.
<CAPTION>
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM
ASSOCIATE COMPANIES
TOTAL
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS: TOTAL
PAYMENTS
(In Thousands)
<S> <C>
Sub-Total Brought Forward 345,544
Ohio Power Company 31,958
Ohio Power Company-Cook Coal Terminal (17)
Ohio Power Company (Gavin) (51)
Ohio Power Company (Tidd PFBC) 20
Simco, Inc. 39
Southern Appalachian Coal Company 5
Southern Ohio Coal Company 2,321
West Virginia Power Company 1
Wheeling Power Company 642
Windsor Coal Company 463
Statutory Subsidiaries
Indiana-Kentucky Electric Corporation 14
Ohio Valley Electric Corporation 1
TOTAL PAYMENTS $380,940
Convenience payments paid by the Service Corporation on behalf of System Companies
were primarily for interchange power pool, transmission agreement, employee benefit
plans, advertising (set up costs), insurance, trustee fees, membership dues and
miscellaneous activities.
</TABLE>
<PAGE>
<TABLE>
11
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE VI - FUEL STOCK EXPENSES UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with respect to
fuel stock expenses during the year and indicate amount attributable
to each associate company. Under the section headed "Summary" listed
below give an overall report of the fuel functions performed by the
service company.
D E S C R I P T I O N LABOR EXPENSES TOTAL
(In Thousands)
ACCOUNT 152 - FUEL STOCK EXPENSES UNDISTRIBUTED
<S> <C> <C> <C>
Associate Companies
AEP Generating Company $ 1 $ 1 $ 2
Appalachian Power Company 706 424 1,130
Appalachian/Ohio Power Joint Account (Amos) 1 -- 1
Appalachian/Ohio Power Joint Account (Sporn) 14 13 27
Blackhawk Coal Company 34 17 51
Cardinal Operating Company 201 123 324
Cedar Coal Co. 28 15 43
Central Coal Company 5 3 8
Central Ohio Coal Company 1,489 943 2,432
Columbus Southern Power Company 633 384 1,017
Conesville Coal Preparation Company 242 149 391
Indiana Michigan Power Company 211 85 296
Indiana Michigan Power/AEP Generating Joint
Account (Rockport) 474 301 775
Indiana Michigan Power Company-Water Transportation 565 319 884
Kentucky Power Company 226 140 366
Kingsport Power Company 2 1 3
Ohio Power Company 1,111 659 1,770
Ohio Power Company-Cook Coal Terminal 381 225 606
Simco, Inc. 9 6 15
Southern Appalachian Coal Company 30 17 47
Southern Ohio Coal Company 3,581 2,289 5,870
Wheeling Power Company 3 2 5
Windsor Coal Company 1,005 622 1,627
Statutory Subsidiaries
Indiana-Kentucky Electric Corporation 106 60 166
Ohio Valley Electric Corporation 158 155 313
TOTAL $11,216 $6,953 $18,169
SUMMARY: Managerial, engineering, technical and administrative services rendered to
AEP System coal mining companies, and coal procurement services rendered to
AEP System generating companies.
</TABLE>
<PAGE>
<TABLE>
12
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE VII - STORES EXPENSE UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with respect to
stores expense during the year and indicate amount attributable to
each associate company.
D E S C R I P T I O N LABOR EXPENSES TOTAL
(In Thousands)
ACCOUNT 163 - STORES EXPENSE UNDISTRIBUTED
<S> <C> <C> <C>
Associate Companies
AEP Generating Company $ 98 $ 79 $ 177
Appalachian Power Company 396 636 1,032
Appalachian/Ohio Power Joint Account (Amos) 6 77 83
Appalachian/Ohio Power Joint Account (Sporn) 4 49 53
Cardinal Operating Company 11 80 91
Cedar Coal Co. 1 9 10
Central Ohio Coal Company 9 116 125
Columbus Southern Power Company 201 287 488
Conesville Coal Preparation Company 1 9 10
Indiana Michigan Power Company 443 536 979
Indiana Michigan Power/AEP Generating
Joint Account (Rockport) 8 70 78
Indiana Michigan Power Company-Water Transportation 2 24 26
Kanawha Valley Power Company -- 2 2
Kentucky Power Company 59 142 201
Kingsport Power Company 22 28 50
Ohio Power Company 445 732 1,177
Ohio Power Company-Cook Coal Terminal 1 13 14
Ohio Power Company (Gavin) 73 64 137
Ohio Power Company (Tidd PFBC) -- 2 2
Southern Ohio Coal Company 12 158 170
Wheeling Power Company 21 22 43
Windsor Coal Company 5 64 69
Statutory Subsidiaries
Indiana-Kentucky Electric Corporation 31 26 57
Ohio Valley Electric Corporation 9 7 16
TOTAL $1,858 $3,232 $5,090
</TABLE>
<PAGE>
<TABLE>
13
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE VIII
MISCELLANEOUS CURRENT AND ACCRUED ASSETS
INSTRUCTIONS: Provide detail of items in this account. Items less than $10,000
may be grouped, showing the number of items in each group.
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE
OF YEAR OF YEAR
(In Thousands)
<S> <C> <C>
ACCOUNT 174 - MISCELLANEOUS CURRENT AND
ACCRUED ASSETS
None
TOTAL $ -0- $ -0-
</TABLE>
<PAGE>
<TABLE>
14
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE IX - MISCELLANEOUS DEFERRED DEBITS
INSTRUCTIONS: Provide detail of items in this account. Items less than $10,000
may be grouped by class showing the number of items in each class.
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE
OF YEAR OF YEAR
(In Thousands)
ACCOUNT 186 - MISCELLANEOUS DEFERRED DEBITS
<S> <C> <C>
Regulatory Asset-Postretirement Medical Benefits $2,918 $2,594
Unbilled Charges 1,610 2,395
Deferred Employee Moving Expense 32 36
Miscellaneous - 3 items 1993; 2 items 1994 8 8
TOTAL $4,568 $5,033
</TABLE>
<PAGE>
<TABLE>
15
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE X
RESEARCH, DEVELOPMENT OR DEMONSTRATION EXPENDITURES
INSTRUCTIONS: Provide a description of each material research, development, or
demonstration project which incurred costs by the service corporation
during the year.
D E S C R I P T I O N AMOUNT
(In Thousands)
ACCOUNT 188 - RESEARCH, DEVELOPMENT, OR DEMONSTRATION
EXPENDITURES
<S> <C>
Coal-Fired Generation $126
Advanced Pressurized Water Reactor Design 151
Transmission, Distribution & UHV Systems 157
Unpressurized Storage Water Heater 79
General Activities 22
TOTAL $535
</TABLE>
<PAGE>
<TABLE>
16
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XI - PROPRIETARY CAPITAL
NUMBER OF PAR OR STATED OUTSTANDING CLOSE OF PERIOD
ACCOUNT NUMBER CLASS OF STOCK SHARES VALUE
AUTHORIZED PER SHARE NO. OF SHARES TOTAL AMOUNT
<S> <S> <C> <C> <C> <C>
201 COMMON STOCK ISSUED 20,000 $100 13,500 $1,350,000
<CAPTION>
INSTRUCTIONS: Classify amounts in each account with brief explanation, disclosing the general
nature of transactions which gave rise to the reported amounts.
D E S C R I P T I O N AMOUNT
<S> <C>
ACCOUNT 211 - MISCELLANEOUS PAID-IN CAPITAL
None
ACCOUNT 215 - APPROPRIATED RETAINED EARNINGS
None
TOTAL $ -0-
<CAPTION>
INSTRUCTIONS: Give particulars concerning net income or (loss) during the year, distinguishing
between compensation for the use of capital owed or net loss remaining from servicing
nonassociates per the General Instructions of the Uniform System of
Accounts. For dividends paid during the year in cash or otherwise, provide rate
percentage, amount of dividend, date declared and date paid.
BALANCE AT NET INCOME BALANCE AT
D E S C R I P T I O N BEGINNING OR DIVIDENDS CLOSE
OF YEAR (LOSS) PAID OF YEAR
<S> <C> <C> <C> <C>
ACCOUNT 216 - UNAPPROPRIATED RETAINED EARNINGS
None
TOTAL $ -0- $ -0- $ -0- $ -0-
</TABLE>
<PAGE>
<TABLE>
17
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XII - LONG-TERM DEBT
INSTRUCTIONS: Advances from associate companies should be reported separately for advances on notes,
and advances on open account. Names of associate companies from which advances were received
shall be shown under the class and series of obligation column. For Account 224 - Other long-
term debt provide the name of creditor company or organization, terms of the obligation, date of
maturity, interest rate, and the amount authorized and outstanding.
TERMS OF OBLIG DATE BALANCE AT ADDITIONS DEDUCTIONS BALANCE AT
N A M E O F CLASS & SERIES OF INTEREST AMOUNT BEGINNING 1/ CLOSE
C R E D I T O R OF OBLIGATION MATURITY RATE AUTHORIZED OF YEAR OF YEAR
(In Thousands)
<S> <C> <C> <C> <C> <C> <C> <C>
ACCOUNT 223 - ADVANCES
FROM ASSOCIATE COMPANIES:
Advance on Open Account
American Electric Power
Company, Inc. NONE $ 1,100 $ 1,100 $ -- $ -- $ 1,100
ACCOUNT 224 - OTHER LONG-
TERM DEBT:
PNC National Association,
Pittsburgh 10/14/98 5.293 10,000 10,000 -- -- 10,000
Connecticut Bank & Trust Company
(as Trustee),
--Series D Mortgage Notes 12/15/99 9.000 20,000 15,000 -- 2,500 12,500
--Series E Mortgage Notes 12/15/08 9.600 70,000 65,000 -- 2,500 62,500
Sub-Total 100,000 90,000 -- 5,000 85,000
TOTAL $101,100 $91,100 $ -- $ 5,000 $86,100
1/ GIVE AN EXPLANATION OF DEDUCTIONS: Loan payments. See Note 7, Schedule XIV, for further explanation of dates
of maturity.
</TABLE>
<PAGE>
<TABLE>
18
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES
INSTRUCTIONS: Provide balance of notes and accounts payable to each associate
company. Give description and amount of miscellaneous current
and accrued liabilities. Items less than $10,000 may be grouped,
showing the number of items in each group.
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE
OF YEAR OF YEAR
(In Thousands)
<S> <C> <C>
ACCOUNT 233 - NOTES PAYABLE TO ASSOCIATE COMPANIES
None
TOTAL $ -0- $ -0-
(In Thousands)
ACCOUNT 234 - ACCOUNTS PAYABLE TO ASSOCIATE
COMPANIES
Columbus Southern Power Company $ 58 $ 114
Indiana Michigan Power Company 16,629 15,156
Kentucky Power Company 4,088 412
Ohio Power Company 25 15,718
Miscellaneous - 7 items in 1993; 10 items in 1994 4 10
TOTAL $20,804 $31,410
(In Thousands)
ACCOUNT 242 - MISCELLANEOUS CURRENT AND
ACCRUED LIABILITIES
Accrued Vacation Pay $ 7,901 $ 7,828
Accrued Incentive Pay 2,809 3,730
Accrued Severance Pay 7,266 4,424
Employee Savings Plan 355 398
Retirement Plan 9,711 14,370
Accrued Workers' Compensation 328 479
AEP System Stock Purchase Plan 95 104
Payroll Withholdings 158 169
Group Medical Plan 17 --
Accrued Rent on John E. Dolan Engineering Laboratory 1,318 1,274
Accrued Rent for Office Space at Market Square,
Washington, D.C. 88 90
Accrued Rent on the IBM 3090 System 30 12
Accrued Severance-Group Medical 831 339
TOTAL $30,907 $33,217
</TABLE>
<PAGE>
19
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes
regarding the financial statements or any account
thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the
end of the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
1. SIGNIFICANT ACCOUNTING POLICIES:
Organization
American Electric Power Service Corporation (the Company
or AEPSC) is a wholly-owned subsidiary of American Electric
Power Company, Inc. (AEP Co., Inc.), a public utility holding
company. The Company provides certain managerial and profess-
ional services including administrative and engineering ser-
vices to the affiliated companies in the American Electric
Power (AEP) System and periodically to unaffiliated companies.
Regulation and Basis of Accounting
AEPSC is subject to regulation by the Securities and
Exchange Commission (SEC) under the Public Utility Holding
Company Act of 1935 (1935 Act).
The Company's accounting conforms to the Uniform System of
Accounts for Mutual and Subsidiary Service Companies
prescribed by the SEC pursuant to the 1935 Act. As a
regulated entity, AEPSC's financial statements reflect the
actions of the regulators that may result in the recognition
of revenues and expenses in different time periods than
enterprises that are not regulated. In accordance with
Statement of Financial Accounting Standards (SFAS) No. 71,
Accounting for the Effects of Certain Types of Regulation
(SFAS 71), regulatory assets and liabilities are recorded
to defer expenses or revenues reflecting such differences.
Income and Expenses
Services rendered to both affiliated and unaffiliated com-
panies are being provided at cost. The charges for services
include no compensation for the use of equity capital, all
of which is furnished by AEP Co., Inc. The costs of the
services are determined on a direct charge basis to the
extent practicable and on reasonable bases of proration for
indirect costs.
(Cont'd)
<PAGE>
19A
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes
regarding the financial statements or any account
thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the
end of the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
Income Taxes
The Company follows the liability method of accounting for
income taxes as prescribed by SFAS 109, Accounting for Income
Taxes. Under the liability method, deferred federal income
taxes are provided for all temporary differences between book
cost and tax basis of assets and liabilities which will result
in a future tax consequence. Where the flow-through method of
accounting for temporary differences is reflected in billings,
regulatory assets and liabilities are recorded in accordance
with SFAS 71.
Investment Tax Credits
Investment tax credits utilized in prior years' federal
income tax returns were deferred and are being amortized
over the life of the related investment.
Property
Property is stated at original cost. Land, structures and
structural improvements are generally subject to first
mortgage liens. Depreciation is provided on a straight-
line basis over the estimated useful lives of the property.
Investments
Investments include the cash surrender value of corporate
owned life insurance policies net of policy loans and interest
accrued on the loans.
Debt
With SEC Staff approval gains and losses on reacquired debt
are deferred and amortized over the term of the replacement
debt.
Debt issuance expenses are amortized over the term of the
related debt, with the amortization included in interest
charges.
(Cont'd)
<PAGE>
19B
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes
regarding the financial statements or any account
thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the
end of the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
2. COMMITMENTS AND CONTINGENCIES:
The Company is involved in a number of legal proceedings
and claims. While management is unable to predict the outcome
of litigation, any potential liability which may result
therefrom would be recoverable from its affiliated companies.
3. BENEFIT PLANS:
AEPSC participates in the AEP System pension plan, a
trusteed, noncontributory defined benefit plan covering all
employees meeting eligibility requirements. Benefits are
based on service years and compensation levels. Pension
costs are allocated by first charging each System company
with its service cost and then allocating the remaining
pension cost in proportion to its share of the projected
benefit obligation. The funding policy is to make annual
trust fund contributions equal to the net periodic pension
cost up to the maximum amount deductible for federal income
taxes, but not less than the minimum contribution required by
the Employee Retirement Income Security Act of 1974.
Net pension plan costs for the years ended December 31,
1994 and 1993 were $4.7 million and $4.6 million,
respectively.
An employee savings plan is offered which allows partici-
pants to contribute up to 17% of their salaries into three
investment alternatives, including AEP Co., Inc. common stock.
An employer matching contribution, equaling one-half of the
employees' contribution to the plan up to a maximum of 3% of
the employees' base salary, is invested in AEP Co., Inc.
common stock. The Company's annual contribution totaled $2.8
million in 1994 and 1993.
Certain other benefits are provided for retired employees
under an AEP System other postretirement benefit plan.
Substantially all employees are eligible for postretirement
health care and life insurance if they have at least 10
service years and are age 55 at retirement.
(Cont'd)
<PAGE>
19C
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes
regarding the financial statements or any account
thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the
end of the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
SFAS 106, Employers' Accounting for Postretirement Benefits
Other Than Pensions, was adopted in January 1993 for the
Company's aggregate liability for postretirement benefits
other than pensions (OPEB). SFAS 106 requires the accrual
during the employee's service years of the present value
liability for OPEB costs. Costs for the accumulated post-
retirement benefits earned and not recognized at adoption are
being recognized, in accordance with SFAS 106, as a transition
obligation over 20 years. OPEB costs are determined by the
application of AEP System actuarial assumptions to each
company's employee complement. The annual accrued OPEB costs
for employees and retirees required by SFAS 106, which
includes the recognition of one-twentieth of the prior service
transition obligation, were $7.4 million in 1994 and $7.6
million in 1993.
In order to fund OPEB benefits the Company established a
Voluntary Employees Beneficiary Association (VEBA) trust fund
for OPEB benefits and a corporate owned life insurance (COLI)
program. The insurance policies have a substantial cash
surrender value which is recorded, net of equally substantial
policy loans, as investments. The amount contributed to the
VEBA trust fund is the difference between the pay-as-you-go
OPEB cost and the SFAS 106 total OPEB cost. This contribution
is funded by amounts recovered from affiliates plus net earn-
ings from the COLI program. Contributions of $5.0 million in
1994 and $5.4 million in 1993 were made to the VEBA trust
fund.
4. FAIR VALUE OF FINANCIAL INSTRUMENTS:
The carrying amount of cash and cash equivalents, special
deposits - restricted funds, accounts receivable and accounts
payable approximates fair value because of the short-term
maturities of these instruments. At December 31, 1994 and
1993 the fair value of long-term debt was $91 million and
$100 million, respectively, based on quoted market prices for
similar issues and current interest rates offered for debt of
the same remaining maturities. The carrying amount for long-
term debt was $86 million and $91 million at December 31, 1994
and 1993, respectively.
(Cont'd)
<PAGE>
19D
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes
regarding the financial statements or any account
thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the
end of the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
5. FEDERAL INCOME TAXES:
The details of federal income taxes as reported are as
follows:
Year Ended December 31,
1994 1993
(In Thousands)
Current (net)................... $(1,978) $ 464
Deferred (net).................. (1,199) (5,902)
Deferred Investment Tax Credits
(net)........................ (376) (385)
Total Federal Income Tax
Credit..................... $(3,553) $(5,823)
Federal income taxes as reported are different than the pre-
tax book loss multiplied by the statutory federal income tax
rate predominantly due to non-taxable income related to
corporate owned life insurance and amortization of deferred
investment tax credits.
The following tables show the elements of the net deferred
tax liability and the significant temporary differences that
gave rise to it:
December 31,
1994 1993
(In Thousands)
Deferred Tax Assets $ 18,296 $ 17,412
Deferred Tax Liabilities (26,419) (26,406)
Net Deferred Tax Liabilities $ (8,123) $ (8,994)
Property Related Temporary Differences $(24,544) $(23,883)
Accrued Pension Expense 5,708 3,399
Accrued Severance Benefits 1,682 2,836
Accrued Vacation Pay 2,200 2,341
Deferred and Accrued Compensation 3,999 3,289
Amounts Due to Affiliates for
Future Federal Income Taxes 2,417 2,532
All Other (net) 415 492
Total Net Deferred Tax Liabilities $ (8,123) $( 8,994)
(Cont'd)
<PAGE>
19E
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes
regarding the financial statements or any account
thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the
end of the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
The Company joins in the filing of a consolidated federal
income tax return with its affiliates in the AEP System. The
allocation of the AEP System's current consolidated federal
income tax to the System companies is in accordance with SEC
rules under the 1935 Act. These rules permit the allocation
of the benefit of current tax losses utilized to the System
companies giving rise to them in determining their current
tax expense. The tax loss of the System parent company, AEP
Co., Inc., is allocated to its subsidiaries with taxable
income. With the exception of the loss of the parent company,
the method of allocation approximates a separate return result
for each company in the consolidated group.
6. LEASES:
Leases of structures, improvements, office furniture and
miscellaneous equipment are for periods up to 30 years and
require payments of related property taxes, maintenance and
operating costs. The majority of the leases have purchase or
renewal options and will be renewed or replaced by other
leases.
The components of rental costs are as follows:
Year Ended December 31,
1994 1993
(In Thousands)
Operating Leases.................$ 4,492 $ 6,584
Amortization of Capital Leases... 9,437 9,098
Interest on Capital Leases....... 2,253 3,024
Total Rental Costs...........$16,182 $18,706
(Cont'd)
<PAGE>
19F
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes
regarding the financial statements or any account
thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the
end of the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
Properties under capital leases and related obligations
recorded on the Balance Sheets are as follows:
December 31,
1994 1993
(In Thousands)
Properties Under Capital Leases:
Structures and Improvements...... $11,750 $11,750
Office Furniture and Miscellaneous
Equipment...................... 41,180 36,657
52,930 48,407
Accumulated Amortization........... 15,623 16,833
Net Properties Under Capital
Leases......................... $37,307 $31,574
Capital Lease Obligations:
Noncurrent Liability............. $26,345 $22,803
Liability Due Within One Year.... 10,962 8,771
Total Capital Lease Obligations $37,307 $31,574
Properties under operating leases and related obligations
are not included in the Balance Sheets.
Future minimum lease rentals consisted of the following at
December 31, 1994:
Noncancelable
Capital Operating
Leases Leases
(In Thousands)
1995............................. $13,087 $ 973
1996............................. 11,005 793
1997............................. 4,554 761
1998............................. 1,994 628
1999............................. 1,691 609
Later Years...................... 24,551 5,095
Total Future Minimum Lease
Rentals........................ 56,882 $8,859
Less Estimated Interest Element.. 19,575
Estimated Present Value of Future
Minimum Lease Rentals.......... $37,307
(Cont'd)
<PAGE>
19G
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes
regarding the financial statements or any account
thereof. Furnish particulars as to any significant
contingent assets or liabilities existing at the
end of the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
7. LONG-TERM DEBT:
Long-term debt was outstanding as follows:
December 31,
Interest 1994 1993
Rate (In Thousands)
Notes Payable to Banks:
Due October 1998.......... 5.29% $10,000 $10,000
Mortgage Notes:
Series D(a)............... 9.00% 12,500 15,000
Series E(b)............... 9.60% 62,500 65,000
Advances from Parent Company. (c) 1,100 1,100
86,100 91,100
Less Portion Due Within One Year 5,000 5,000
Total...................... $81,100 $86,100
(a) Due in annual installments of $2,500,000 until
December 1999.
(b) Due in annual installments of $2,500,000 until
December 1999, $2,000,000 from 2000-2007 and the
balance in December 2008.
(c) The advances from parent company are non-interest
bearing and have no due date.
Long-term debt outstanding at December 31, 1994 is payable
as follows:
Principal
Amount
(In Thousands)
1995...................................... $ 5,000
1996...................................... 5,000
1997...................................... 5,000
1998...................................... 15,000
1999...................................... 5,000
Later Years............................... 51,100
Total................................... $86,100
<PAGE>
<TABLE>
20
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XV
STATEMENT OF INCOME
ACCOUNT D E S C R I P T I O N CURRENT YEAR PRIOR YEAR
(In Thousands)
<S> <C> <C>
INCOME
457 Services rendered to associate companies $243,764 $241,933
458 Services rendered to nonassociate
companies 71 219
421 Miscellaneous income or loss 263 621
Total Income 244,098 242,773
EXPENSE
920 Salaries and wages 121,542 132,820
921 Office supplies and expenses 13,568 12,175
922 Administrative expense transferred - credit (655) (765)
923 Outside services employed 30,375 24,472
924 Property insurance 91 91
925 Injuries and damages 575 931
926 Employee pensions and benefits 33,742 29,835
928 Regulatory commission expense -- --
930.1 General advertising expenses -- --
930.2 Miscellaneous general expenses 1,253 1,173
931 Rents 18,162 19,335
932 Maintenance of structures and equipment 3,119 2,582
403 Depreciation and amortization expense 4,018 4,044
408 Taxes other than income taxes 11,079 10,317
409 Income taxes (1,978) 464
410 Provision for deferred income taxes 8,998 7,829
411 Provision for deferred income taxes - credit (10,197) (13,731)
411.5 Investment tax credit (376) (385)
426.1 Donations 891 737
426.5 Other deductions 1,096 1,304
427 Interest on long-term debt 8,104 8,816
430 Interest on debt to associate companies -- --
431 Other interest expense 691 729
Total Expense 244,098 242,773
Net Income or (Loss) $ -0- $ -0-
</TABLE>
<PAGE>
<TABLE>
21
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
ANALYSIS OF BILLING
ASSOCIATE COMPANIES
ACCOUNT 457
DIRECT INDIRECT COMPENSATION TOTAL
NAME OF ASSOCIATE COMPANY COSTS COSTS FOR USE OF AMOUNT
CHARGED CHARGED CAPITAL BILLED
457-1 457-2 457-3
(In Thousands)
<S> <C> <C> <C> <C>
Associate Companies
AEP Energy Services, Inc. $ 1,270 $ 233 $ 1 $ 1,504
AEP Generating Company 2,607 451 7 3,065
AEP Resources, Inc. 58 11 -- 69
American Electric Power Company, Inc. 678 184 2 864
Appalachian Power Company 44,807 7,490 107 52,404
Appalachian Power (Commercial PFBC) 11 4 1 16
Appalachian/Ohio Power Joint
Account (Amos) 923 148 2 1,073
Appalachian/Ohio Power Joint
Account (Sporn) 536 95 2 633
Blackhawk Coal Company/Price River Coal
Company 46 6 -- 52
Cardinal Operating Company 1,219 204 3 1,426
Cedar Coal Co. 54 5 1 60
Central Appalachian Coal Company 1 -- -- 1
Central Coal Company 7 1 -- 8
Central Ohio Coal Company 2,496 274 6 2,776
Central Operating Company 143 15 -- 158
Columbus Southern Power Company 23,898 3,645 57 27,600
Conesville Coal Preparation Company 371 42 1 414
Indiana Michigan Power Company 55,370 9,159 130 64,659
Indiana Michigan Power Company-
Water Transportation 957 107 2 1,066
Indiana Michigan Power/AEP Generating
Joint Account (Rockport) 2,791 459 6 3,256
Kanawha Valley Power Company 33 5 -- 38
Kentucky Power Company 8,688 1,437 19 10,144
Kingsport Power Company 1,394 211 3 1,608
Ohio Power Company 42,585 7,110 110 49,805
Ohio Power Company-Cook Coal Terminal 581 65 2 648
Ohio Power Company (Gavin) 3,953 906 28 4,887
Ohio Power Company (Tidd PFBC) 2 -- -- 2
Simco, Inc. 13 2 -- 15
Southern Appalachian Coal Company 42 5 -- 47
Southern Ohio Coal Company 6,044 697 15 6,756
Wheeling Power Company 1,592 248 3 1,843
Windsor Coal Company 1,643 183 4 1,830
SUB-TOTAL 204,813 33,402 512 238,727
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
21A
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
ANALYSIS OF BILLING
ASSOCIATE COMPANIES
ACCOUNT 457
DIRECT INDIRECT COMPENSATION TOTAL
NAME OF ASSOCIATE COMPANY COSTS COSTS FOR USE OF AMOUNT
CHARGED CHARGED CAPITAL BILLED
457-1 457-2 457-3
(In Thousands)
<S> <C> <C> <C> <C>
Sub-Total Brought Forward 204,813 33,402 512 238,727
Statutory Subsidiaries
Indiana-Kentucky Electric Corporation 3,076 649 13 3,738
Ohio Valley Electric Corporation 1,105 191 3 1,299
TOTAL $208,994 $34,242 $528 $243,764
</TABLE>
<PAGE>
<TABLE>
22
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
ANALYSIS OF BILLING
NONASSOCIATE COMPANIES
ACCOUNT 458
DIRECT INDIRECT COMPENSATION EXCESS TOTAL
NAME OF NONASSOCIATE COMPANY COST COST FOR USE TOTAL OR AMOUNT
CHARGED CHARGED CAPITAL COST DEFICIENCY BILLED
458-1 458-2 458-3 458-4
(In Thousands)
<S> <C> <C> <C> <C> <C> <C>
East Central Area Reliability $38 $-- $-- $38 $-- $38
AMP Ohio 18 3 -- 21 -- 21
Cincinnati Gas & Electric (Zimmer
Service Agreement) 6 1 -- 7 -- 7
Duke Power Company 1 -- -- 1 -- 1
Mid-Atlantic Area Coordination-GPUSC 1 -- -- 1 -- 1
Northwest Power Coordinating Council 1 -- -- 1 -- 1
Ohio Edison Company 1 -- -- 1 -- 1
PJM Interconnections 1 -- -- 1 -- 1
TOTAL $67 $ 4 $-0- $71 $-0- $71
INSTRUCTION: Provide a brief description of the services rendered to each nonassociate company:
Engineering and computer services.
</TABLE>
<PAGE>
<TABLE>
23
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE AND NONASSOCIATE COMPANIES
ASSOCIATE COMPANY CHARGES NONASSOCIATE COMPANY CHARGES
DESCRIPTION OF ITEMS DIRECT INDIRECT DIRECT INDIRECT
COST COST TOTAL COST COST TOTAL
(In Thousands)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES $118,502 $ 3,017 $121,519 $23 $-- $23
921 OFFICE SUPPLIES AND EXPENSES 6,048 7,515 13,563 4 1 5
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT (655) -- (655) -- -- --
923 OUTSIDE SERVICES EMPLOYED 28,107 2,261 30,368 7 -- 7
924 PROPERTY INSURANCE 3 88 91 -- -- --
925 INJURIES AND DAMAGES 559 16 575 -- -- --
926 EMPLOYEE PENSIONS AND BENEFITS 32,258 1,479 33,737 5 -- 5
928 REGULATORY COMMISSION EXPENSE -- -- -- -- -- --
930.1 GENERAL ADVERTISING EXPENSES -- -- -- -- -- --
930.2 MISCELLANEOUS GENERAL EXPENSES 1,130 123 1,253 -- -- --
931 RENTS 13,714 4,422 18,136 25 1 26
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 1,789 1,328 3,117 2 -- 2
403 DEPRECIATION AND AMORTIZATION EXPENSE 218 3,799 4,017 -- 1 1
408 TAXES OTHER THAN INCOME TAXES 8,452 2,626 11,078 1 -- 1
409 INCOME TAXES (1,978) -- (1,978) -- -- --
410 PROVISION FOR DEFERRED INCOME TAXES 8,998 -- 8,998 -- -- --
411 PROVISION FOR DEFERRED INCOME TAXES-CREDIT (10,197) -- (10,197) -- -- --
411.5 INVESTMENT TAX CREDIT (376) -- (376) -- -- --
426.1 DONATIONS 891 -- 891 -- -- --
426.5 OTHER DEDUCTIONS 1,096 -- 1,096 -- -- --
427 INTEREST ON LONG-TERM DEBT 953 7,150 8,103 1 1
431 OTHER INTEREST EXPENSE 44 647 691 -- -- --
INSTRUCTION: Total cost of service will equal for
associate and nonassociate companies the total
amount billed under their separate analysis of
billing schedules.
TOTAL EXPENSES = 209,556 34,471 244,027 67 4 71
421 MISCELLANEOUS INCOME (34) (229) (263) -- -- --
TOTAL EXPENSES = $209,522 $34,242 $243,764 $67 $ 4 $71
COMPENSATION FOR USE OF EQUITY CAPITAL = -- -- -- -- -- --
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES= -- -- -- -- -- --
TOTAL COST OF SERVICE = $209,522 $34,242 $243,764 $67 $ 4 $71
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
23A
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE AND NONASSOCIATE COMPANIES
TOTAL CHARGES FOR SERVICE
DESCRIPTION OF ITEMS DIRECT INDIRECT
COST COST TOTAL
(In Thousands)
<S> <S> <C> <C>
920 SALARIES AND WAGES $118,525 $ 3,017 $121,542
921 OFFICE SUPPLIES AND EXPENSES 6,052 7,516 13,568
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT (655) -- (655)
923 OUTSIDE SERVICES EMPLOYED 28,114 2,261 30,375
924 PROPERTY INSURANCE 3 88 91
925 INJURIES AND DAMAGES 559 16 575
926 EMPLOYEE PENSIONS AND BENEFITS 32,263 1,479 33,742
928 REGULATORY COMMISSION EXPENSE -- -- --
930.1 GENERAL ADVERTISING EXPENSES -- -- --
930.2 MISCELLANEOUS GENERAL EXPENSES 1,130 123 1,253
931 RENTS 13,739 4,423 18,162
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 1,791 1,328 3,119
403 DEPRECIATION AND AMORTIZATION EXPENSE 218 3,800 4,018
408 TAXES OTHER THAN INCOME TAXES 8,453 2,626 11,079
409 INCOME TAXES (1,978) -- (1,978)
410 PROVISION FOR DEFERRED INCOME TAXES 8,998 -- 8,998
411 PROVISION FOR DEFERRED INCOME TAXES-CREDIT (10,197) -- (10,197)
411.5 INVESTMENT TAX CREDIT (376) -- (376)
426.1 DONATIONS 891 -- 891
426.5 OTHER DEDUCTIONS 1,096 -- 1,096
427 INTEREST ON LONG-TERM DEBT 953 7,151 8,104
431 OTHER INTEREST EXPENSE 44 647 691
INSTRUCTION: Total cost of service will equal for
associate and nonassociate companies the total
amount billed under their separate analysis of
billing schedules.
TOTAL EXPENSES = 209,623 34,475 244,098
421 MISCELLANEOUS INCOME (34) (229) (263)
TOTAL EXPENSES = $209,589 $34,246 $243,835
COMPENSATION FOR USE OF EQUITY CAPITAL = -- -- --
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES= -- -- --
TOTAL COST OF SERVICE = $209,589 $34,246 $243,835
</TABLE>
<PAGE>
<TABLE>
24
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
CUSTOMER &
D E S C R I P T I O N O F I T E M S TOTAL ADMIN. MARKETING EXEC.
AMOUNT OVERHEAD SERVICES CONTROLLER SERVICES GROUP
(In Thousands)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES $121,542 $ 3,192 $742 $1,379 $2,237 $10,902
921 OFFICE SUPPLIES AND EXPENSES 13,568 5,927 12 32 245 1,061
922 ADMINISTRATIVE EXPENSE TRANSFERRED -
CREDIT (655) -- -- -- -- (536)
923 OUTSIDE SERVICES EMPLOYED 30,375 1,037 6 4,097 2,594 3,722
924 PROPERTY INSURANCE 91 85 -- -- -- --
925 INJURIES AND DAMAGES 575 16 1 5 11 42
926 EMPLOYEE PENSIONS AND BENEFITS 33,742 1,535 109 360 626 3,667
928 REGULATORY COMMISSION EXPENSE -- -- -- -- -- --
930.1 GENERAL ADVERTISING EXPENSES -- -- -- -- -- --
930.2 MISCELLANEOUS GENERAL EXPENSES 1,253 124 -- -- 57 886
931 RENTS 18,162 2,564 4 1 51 715
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 3,119 1,061 -- 9 5 323
403 DEPRECIATION AND AMORTIZATION EXPENSE 4,018 3,850 -- -- -- --
408 TAXES OTHER THAN INCOME TAXES 11,079 2,795 53 88 200 671
409 INCOME TAXES (1,978) -- -- -- -- --
410 PROVISION FOR DEFERRED INCOME TAXES 8,998 -- -- -- -- --
411 PROVISION FOR DEFERRED INCOME TAXES -
CREDIT (10,197) -- -- -- -- --
411.5 INVESTMENT TAX CREDIT (376) -- -- -- -- --
426.1 DONATIONS 891 22 -- -- 1 747
426.5 OTHER DEDUCTIONS 1,096 -- -- -- -- 997
427 INTEREST ON LONG-TERM DEBT 8,104 7,570 -- -- -- --
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES -- -- -- -- -- --
431 OTHER INTEREST EXPENSE 691 691 -- -- -- --
INSTRUCTION: Indicate each department or
service function. (see Instruction 01-3
General Structure of Accounting System:
Uniform System of Accounts)
TOTAL EXPENSES = $244,098 $30,469 $927 $5,971 $6,027 $23,197
</TABLE>
<PAGE>
<TABLE>
25
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
D E P A R T M E N T O R S E R V I C E F U N C T I O N
ACCOUNT FOSSIL & HYDRO FUEL HUMAN INFORMATION INTERNAL NUCLEAR
NUMBER FINANCE GENERATION SUPPLY RESOURCES SERVICES AUDITS LEGAL GENERATION
(In Thousands)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
920 $ 984 $25,516 $10,600 $2,009 $14,047 $2,836 $2,933 $15,791
921 80 1,228 1,421 172 733 187 203 902
922 -- (10) (35) -- -- -- (1) (5)
923 1 1,255 252 375 12,517 7 126 3,471
924 -- -- 3 -- 3 -- -- --
925 5 123 54 12 74 14 11 74
926 253 6,631 2,957 655 3,443 751 843 4,227
928 -- -- -- -- -- -- -- --
930.1 -- -- -- -- -- -- -- --
930.2 9 58 3 13 2 -- 1 4
931 127 150 256 6 12,436 7 50 209
932 -- 7 207 -- 1,293 -- -- 89
403 -- -- 161 -- 7 -- -- --
408 69 1,842 712 127 1,124 214 164 1,092
409 -- -- -- -- -- -- -- --
410 -- -- -- -- -- -- -- --
411 -- -- -- -- -- -- -- --
411.5 -- -- -- -- -- -- -- --
426.1 -- 11 54 31 -- -- -- 5
426.5 -- -- 42 -- -- -- 1 2
427 534 -- -- -- -- -- -- --
430 -- -- -- -- -- -- -- --
431 -- -- -- -- -- -- -- --
$2,062 $36,811 $16,687 $3,400 $45,679 $4,016 $4,331 $25,861
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
25A
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
D E P A R T M E N T O R S E R V I C E F U N C T I O N
ACCOUNT PUBLIC PURCHASING & SYSTEM SYSTEM POWER T&D
NUMBER AFFAIRS MATERIALS MGT. RATES PLANNING MARKETS SERVICES TAX TREASURY
(In Thousands)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
920 $1,510 $1,770 $1,230 $5,456 $2,860 $12,984 $ 778 $1,786
921 268 42 47 182 109 655 29 33
922 (56) -- -- (2) -- -- -- (10)
923 38 96 24 98 227 387 31 14
924 -- -- -- -- -- -- -- --
925 7 9 5 24 13 60 3 12
926 397 531 344 1,500 751 3,423 195 544
928 -- -- -- -- -- -- -- --
930.1 -- -- -- -- -- -- -- --
930.2 71 -- -- -- 8 17 -- --
931 77 1 -- 90 334 1,081 -- 3
932 2 1 -- -- 22 100 -- --
403 -- -- -- -- -- -- -- --
408 123 127 77 354 189 882 51 125
409 -- -- -- -- -- -- (1,978) --
410 -- -- -- -- -- -- 8,998 --
411
-- -- -- -- -- -- (10,197) --
411.5 -- -- -- -- -- -- (376) --
426.1 18 -- -- 2 -- -- -- --
426.5 44 -- -- -- -- -- -- 10
427 -- -- -- -- -- -- -- --
430 -- -- -- -- -- -- -- --
431 -- -- -- -- -- -- -- --
$2,499 $2,577 $1,727 $7,704 $4,513 $19,589 $ (2,466) $2,517
</TABLE>
<PAGE>
<TABLE>
26
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
DEPARTMENTAL ANALYSIS OF SALARIES
ACCOUNT 920
DEPARTMENTAL SALARY EXPENSE NUMBER
NAME OF DEPARTMENT INCLUDED IN AMOUNTS BILLED TO PERSONNEL
Indicate each department or TOTAL PARENT OTHER NON END OF
service function. AMOUNT COMPANY ASSOCIATES ASSOCIATES YEAR
(In Thousands)
<S> <C> <C> <C> <C> <C>
Service Groups (Overheads) $ 3,192 $ 16 $ 3,176 $-- 87
Administrative Services 742 -- 742 -- 15
Controller 1,379 1 1,378 -- 24
Customer & Marketing Services 2,237 -- 2,237 -- 48
Executive Group 10,902 11 10,891 -- 161
Finance 984 228 756 -- 18
Fossil & Hydro Generation 25,516 -- 25,513 3 417
Fuel Supply 10,600 -- 10,600 -- 192
Human Resources 2,009 -- 2,009 -- 34
Information Services 14,047 -- 14,038 9 253
Internal Audits 2,836 -- 2,836 -- 55
Legal 2,933 123 2,810 -- 36
Nuclear Generation 15,791 -- 15,791 -- 269
Public Affairs 1,510 44 1,466 -- 24
Purchasing & Materials
Management 1,770 -- 1,770 -- 33
Rates 1,230 -- 1,230 -- 18
System Planning 5,456 -- 5,449 7 81
System Power Markets 2,860 -- 2,860 -- 52
T&D Services 12,984 1 12,979 4 215
Tax 778 -- 778 -- 13
Treasury 1,786 100 1,686 -- 34
TOTAL $121,542 $524 $120,995 $23 2,079
</TABLE>
<PAGE>
<TABLE>
27
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
RELATIONSHIP
"A"=ASSOCIATE
FROM WHOM PURCHASED "NA"=NON AMOUNT
ASSOCIATE
(In Thousands)
<S> <C> <C>
Legal Services
Porter, Wright, Morris & Arthur NA $ 123
Other Payees - 12 payees
of less than $25,000 60
Sub-Total Legal Services 183
Engineering Services
CDI Corporation NA 653
General Research NA 31
Gilbert/Commonwealth, Inc. NA 27
OGDEN Environmental and Energy Services NA 325
Ohio State University NA 39
SE Technologies, Inc. NA 2,493
Sargent-Lundy LLC NA 117
Van Der Roest Group, Inc. NA 28
Vectra Technologies, Inc. NA 23
Other Payees - 12 payees
of less than $25,000 25
Sub-Total Engineering Services 3,761
Software Services
Analysts International Corporation NA 646
Appa Business Computers, Inc. NA 47
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
27A
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
RELATIONSHIP
"A"=ASSOCIATE
FROM WHOM PURCHASED "NA"=NON AMOUNT
ASSOCIATE
(In Thousands)
<S> <C> <C>
Software Services
Arthur Andersen & Co., S.C. NA 4,577
ASEA Brown Boveri Systems Control Company, Inc. NA 147
Bachman Information Systems, Inc. NA 80
BBN Software Products Corp. NA 41
BGS Systems, Inc. NA 157
BMC Software, Inc. NA 447
Boole & Babbage NA 62
Candle Corporation NA 35
Cap Gemini America NA 1,237
Computer Associates International, Inc. NA 388
ComputerPeople, Inc. NA 1,598
Compuware Corporation NA 80
Control Software, Inc. NA 232
Development Center, Inc. NA 83
Digital Equipment Corporation NA 52
Dorn Technology Group, Inc. NA 71
EA Systems, Inc. NA 250
Egghead Software NA 168
Enable Software, Inc. NA 65
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
27B
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
RELATIONSHIP
"A"=ASSOCIATE
FROM WHOM PURCHASED "NA"=NON AMOUNT
ASSOCIATE
(In Thousands)
<S> <C> <C>
Software Services
Everest Data Research, Inc. NA 51
Fluent, Inc. NA 38
Future Scope, Inc. NA 49
Georgia Tech Research Corporation NA 27
Indecon, Inc. NA 415
Information Builders, Inc. NA 156
Information Industries, Inc. NA 192
Integrated Communication Systems, Inc. NA 25
Intergraph Corporation NA 176
International Business Machines Corporation NA 748
Keane, Inc. NA 65
Kemper Management Services, Inc. NA 123
Legent Corporation NA 56
Lucas Management Systems NA 79
Maximation, Inc. NA 418
Network Compatibility Group, Inc. NA 68
Oasys, Inc. NA 213
Origin Technology in Business NA 99
Platinum Technology, Inc. NA 78
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
27C
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
RELATIONSHIP
"A"=ASSOCIATE
FROM WHOM PURCHASED "NA"=NON AMOUNT
ASSOCIATE
(In Thousands)
<S> <C> <C>
Software Services
RCG/Hagler Bailly, Inc. NA 25
SARCOM NA 545
Shared Resources, Inc. NA 57
Sofnet, Inc. NA 30
Softmart, Inc. NA 76
Software AG of North America, Inc. NA 187
Software Architects, Inc. NA 174
Software Spectrum NA 37
Software Support Group NA 63
Sterling Software, Inc. NA 220
Studsvik of America, Inc. NA 475
System Innovators, Inc. NA 41
Tangram Systems Corp. NA 45
Tesseract Corporation NA 270
UserTech NA 249
Self-Assessed State Sales
and Use Taxes NA 118
Other Payees - 172 payees
of less than $25,000 661
Sub-Total Software Services 16,812
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
27D
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
RELATIONSHIP
"A"=ASSOCIATE
FROM WHOM PURCHASED "NA"=NON AMOUNT
ASSOCIATE
(In Thousands)
<S> <C> <C>
Auditing
Deloitte & Touche LLP NA 55
Sub-Total Auditing 55
Other Professional Services
Dr. Calvin C. Berlin NA 59
CDI Corporation NA 81
Center for Workforce Effectiveness NA 46
Clean Air Capital Markets Limited Partnership NA 150
Commercial Movers, Inc. NA 126
Coopers & Lybrand LLP NA 3,802
Dawson Personnel Systems NA 27
Deloitte & Touche LLP NA 52
Franklin Services Group NA 462
The Galbreath Company NA 96
Gartner Group, Inc. NA 37
R. E. Harrington, Inc. NA 25
ICF Resources, Inc. NA 25
Institute of Nuclear Power Operations NA 45
International Business Machines Corporation NA 127
Market Strategies, Inc. NA 61
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
27E
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
RELATIONSHIP
"A"=ASSOCIATE
FROM WHOM PURCHASED "NA"=NON AMOUNT
ASSOCIATE
(In Thousands)
<S> <C> <C>
Other Professional Services
Marriott Corporation NA 118
Massachetts Institute of Technology NA 32
Mercer Management Consulting, Inc. NA 1,538
Occupational and Preventive Medicine, Inc. NA 37
Office Team NA 56
Ohio Edison Company NA 31
Ohio State University NA 189
PHH Homequity NA 264
Pennsylvania State University NA 36
Reichman-Karten-Sword, Inc. NA 49
I. John Reimers NA 42
Right Associates NA 65
SARCOM NA 366
Shaffer Sherman Sperry, Inc. NA 193
Software Support Group NA 195
Stanford Interior Gardens, Inc. NA 38
Syn-Cronamics, Inc. NA 66
TAD Resources International, Inc. NA 35
</TABLE>
(Cont'd)
<PAGE>
<TABLE>
27F
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
RELATIONSHIP
"A"=ASSOCIATE
FROM WHOM PURCHASED "NA"=NON AMOUNT
ASSOCIATE
(In Thousands)
<S> <C> <C>
Other Professional Services
TQS Research, Inc. NA 31
Towers Perrin NA 216
Kuniko A. Weber NA 43
Other Payees - 209 payees
of less than $25,000 703
Sub-Total Other Professional Services 9,564
TOTAL $30,375
</TABLE>
<PAGE>
<TABLE>
28
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
EMPLOYEE PENSIONS AND BENEFITS
ACCOUNT 926
INSTRUCTIONS: Provide a listing of each pension plan and benefit program provided
by the service company. Such listing should be limited to $25,000.
D E S C R I P T I O N AMOUNT
(In Thousands)
<S> <C>
Medical Insurance $ 9,939
Deferred Compensation Benefits 4,390
Other Postretirement Benefits 7,434
Savings Plan 3,157
Moving Expenses 472
Retirement Plan 5,807
Long-Term Disability 768
Group Life Insurance 70
Dental Insurance 652
Employee Educational Assistance 241
Miscellaneous 812
TOTAL $33,742
</TABLE>
<PAGE>
29
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
GENERAL ADVERTISING EXPENSES
ACCOUNT 930.1
INSTRUCTIONS: Provide a listing of the amount included in Account 930.1,
"General Advertising Expenses", classifying the items according
to the nature of the advertising and as defined in the account
definition. If a particular class includes an amount in excess
of $3,000 applicable to a single payee, show separately the name
of the payee and the aggregate amount applicable thereto.
D E S C R I P T I O N NAME OF PAYEE AMOUNT
None
TOTAL $ -0-
<PAGE>
30
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
MISCELLANEOUS GENERAL EXPENSES
ACCOUNT 930.2
INSTRUCTIONS: Provide a listing of the amount included in Account 930.2,
"Miscellaneous General Expenses", classifying such expenses
according to their nature. Payments and expenses permitted by
Section 321 (b) (2) of the Federal Election Campaign Act, as
amended by Public Law 94-283 in 1976 (2 U.S.C.S 441 (b) (2))
shall be separately classified.
D E S C R I P T I O N AMOUNT
(In Thousands)
Directors' Fees and Expenses $ 7
Dues for Company Memberships 960
Other General Expenses 286
TOTAL $1,253
<PAGE>
31
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
RENTS
ACCOUNT 931
INSTRUCTIONS: Provide a listing of the amount included in Account 931,
"Rents", classifying such expenses by major groupings of
property, as defined in the account definition of the
Uniform System of Accounts.
T Y P E O F P R O P E R T Y AMOUNT
(In Thousands)
Computers and Data Processing Equipment $11,299
Microwave and Telecommunication Equipment 812
Office Furniture and Equipment 1,575
Office and Parking 2,094
Software 2,110
Videotex and Timesharing 128
Miscellaneous 144
TOTAL $18,162
<PAGE>
<TABLE>
32
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
TAXES OTHER THAN INCOME TAXES
ACCOUNT 408
INSTRUCTIONS: Provide an analysis of Account 408, "Taxes Other Than Income
Taxes". Separate the analysis into two groups: (1) other than
U.S. Government taxes, and (2) U.S. Government taxes. Specify
each of the various kinds of taxes and show the amounts thereof.
Provide a subtotal for each class of tax.
K I N D O F T A X AMOUNT
(In Thousands)
<S> <C>
1. Taxes Other Than U.S. Government Taxes
NY State Franchise $ 2
State Unemployment 140
Ohio Corporation Franchise 849
Ohio Real Estate Assessment 1,565
Ohio Intercounty Return of Taxable
Business Property 138
Miscellaneous Taxes 22
Sub-Total Taxes Other Than U.S. Government Taxes 2,716
2. U.S. Government Taxes
Federal Environmental Excise 19
Federal Insurance Contributions 8,216
Federal Unemployment 128
Sub-Total U.S. Government Taxes 8,363
TOTAL $11,079
</TABLE>
<PAGE>
<TABLE>
33
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
DONATIONS
ACCOUNT 426.1
INSTRUCTIONS: Provide a listing of the amount included in Account 426.1,
"Donations", classifying such expenses by its purpose. The
aggregate number and amount of all items of less than $3,000
may be shown in lieu of details.
NAME OF RECIPIENT PURPOSE OF DONATION AMOUNT
(In Thousands)
<S> <S> <C>
American Forestry Association Community $ 20
American Ground Water Trust Community 20
Ballet Metropolitan Community 13
Boy Scouts of America Community 5
Capital University Educational 5
Central Ohio Lung Association Community 5
Columbus Arts Stabilization Community 67
Columbus Foundation Community 10
Columbus Museum of Art Community 7
Columbus Speech & Hearing Community 10
Columbus Symphony Orchestra Community 17
Columbus Urban League Community 5
Columbus Zoo Community 11
Council for Aid to Education Educational 4
Earth Day EveryDay Network Community 15
Edison Electric Institute Educational 15
Electric Information Council, Inc. Community 5
Fairfield County Foundation Community 5
The Family Y of Lancaster and Fairfield
County Community 5
Forward Columbus Fund-Columbus Community 4
Foundation for American Communications Community 15
Franklin University Educational 11
Great Lakes Water Quality Community 5
Homeless Families Foundation Community 3
I Know I Can Educational 5
The King Arts Complex Community 3
Massachusetts Institute of Technology Matching Contribution 4
National Society To Prevent Blindness-Ohio Community (8)
The Nature Conservancy Community 5
National Academy Educational 5
Ohio Foundation of Independent Colleges, Inc. Educational 20
Ohio River Valley Water Sanitation Commission Community 10
The Ohio State University Educational 21
Open Space Institute Community 20
Opera Columbus Community 13
Renew America Community 5
Rensselaer Polytechnic Educational 20
Rosemont Center Community 4
St. Stephens Community House Community 4
SUB-TOTAL 413
<PAGE>
</TABLE>
<TABLE>
33A
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
DONATIONS
ACCOUNT 426.1
INSTRUCTIONS: Provide a listing of the amount included in Account 426.1,
"Donations", classifying such expenses by its purpose. The
aggregate number and amount of all items of less than $3,000
may be shown in lieu of details.
NAME OF RECIPIENT PURPOSE OF DONATION AMOUNT
(In Thousands)
<S> <S> <C>
Sub-Total Brought Forward 413
Sales Service/America Community 3
Science & Mathematics Network Community 10
Seal of Ohio Girl Scouts Community 10
United Negro College Fund, Inc. Educational 4
U. S. Navy Memorial Foundation Community 6
United Way Community 197
Virginia Polytechnic Institute Educational 14
Virginia Tech Foundation, Inc. Matching Contributions 5
YMCA of Central Ohio Community 13
Wilds Community 5
Wilderness Center, Inc. Community 5
WOSU-TV Community 3
Employees and Others (Salaries, salary related
expenses, overheads and other expenses) Community 48
Miscellaneous - 279 items of less than $3,000 Various 155
TOTAL $891
</TABLE>
<PAGE>
<TABLE>
34
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
OTHER DEDUCTIONS
ACCOUNT 426.5
INSTRUCTIONS: Provide a listing of the amount included in Account 426.5,
"Other Deductions", classifying such expenses according to
their nature.
D E S C R I P T I O N NAME OF PAYEE AMOUNT
(In Thousands)
<S> <S> <C>
Cash Contributions: American Council For Capital
Formation-Center For
Policy Research $ 3
American Legislative Exchange 3
American Nuclear Society 2
Americans for Energy Independence 3
Business Government Relations 3
Chamber of Commerce 38
Clean Coal Technology Coalition 30
Committee For Economic Development 6
Consumers United For Rail Equity 5
Council of State Governments 3
Dubliner Golf Classic 1
Edison Electric Institute (89)
The Health Coalition of
Central Ohio 1
National Chamber Litigation
Center, Inc. 5
National Endangered Species Act
Reform Coalition 25
National Energy Resources
Organization 1
National Governors Association 12
National Legal Center for
the Public Interest 3
Ohio Public Expenditure Council 1
Service Fees: Business Roundtable 39
The Capitol Connection 1
Congressional Delivery, Inc. 1
Staff Directories, Ltd. 1
The Success Group, Inc. 61
Salaries, salary related expenses,
overheads, and other expenses Employees and Others 937
TOTAL $1,096
</TABLE>
<PAGE>
35
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XVIII
NOTES TO STATEMENT OF INCOME
INSTRUCTIONS: The space below is provided for important notes
regarding the statement of income or any account
thereof. Furnish particulars as to any significant
increase in services rendered or expenses incurred
during the year. Notes relating to financial
statements shown elsewhere in this report may be
indicated here by reference.
See Notes to Financial Statements on Page 19.
<PAGE>
36
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
ORGANIZATION CHART
Chairman, President & Chief Executive Officer
Fuel Supply
Legal
Nuclear Generation
EVP - Administration & Chief Accounting Officer
Administrative Services
Controller
Information Services
Tax
Treasury
Human Resources
Purchasing and Materials Management
EVP & Chief Financial Officer
Finance
System Planning
System Power Markets
Internal Audits (NOTE)
EVP
Rates
Customer and Marketing Services
Public Affairs
EVP - Engineering & Construction
Fossil and Hydro Generation
T&D Services
NOTE: Internal Audits reports to the Audit Committee
of the Board of Directors of American Electric
Power Company, Inc. and administratively to the
Executive Vice President & Chief Financial
Officer.
<PAGE>
37
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
METHODS OF ALLOCATION
Service Billings
Kilowatt Hours Sales (KWH) Ratio
Client Load Ratio
Generated Coal-Fired Kilowatt Hours Ratio
Number of Customers Ratio
Number of Client Employees Ratio
Number of Company Employees by Group Ratio
Plant Investment Ratio
Level of Construction Ratio
Tons of Fuel Acquired Ratio
Computer Resource Units Ratio
Coal Company Combination Ratio
Ratio of Total Direct and Indirect Charges Billed
Convenience Billings
Specific Identification
(based on known and pertinent factors)
Asset Ratio
Expense Budget Ratio
Contribution Ratio
Equal Share Ratio
Gross Annual Payroll Dollars Ratio
Coal Production Ratio
Kilowatt Hours Sales (KWH) Ratio
Number of Employees Ratio
Number of Customers Ratio
Number of Vehicles Ratio
<PAGE>
38
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED
April 27, 1995
Statement of the Amount of Interest on Borrowed
Capital and Compensation for the Use of Capital
Billed by American Electric Power Service Corporation
(AEPSC) for the Year Ended December 31, 1994
G. R. Knorr - Columbus
All AEP System Accounting Managers
In accordance with Instruction 01-12 of the Uniform System of Accounts
prescribed by the Securities and Exchange Commission for Mutual Service
Companies and Subsidiary Service Companies under the Public Utility
Holding Company Act of 1935, as amended, this is an annual statement of
the amount of interest on borrowed capital and compensation for the use
of capital billed by AEPSC for the year ended December 31, 1994.
Exhibit A, attached hereto, shows your portion of the interest cost on
capital borrowed for working capital requirements. The method used to
allocate the cost to each System company was based on the ratio of your
portion of total direct and indirect charges billed during the prior year
of 1993. The amount shown for each company equals the total charges
billed under Work Order No. 1200 during 1994.
In addition to the interest charges incurred for working capital, AEPSC
billed to all clients, as an indirect cost applicable to administrative
services, a total amount of $8,245,673.00 of interest cost and debt
expenses related to the mortgage notes on its headquarters building
located in Columbus, Ohio and $15,776.03 of other interest costs.
All interest charges incurred by AEPSC during 1994 were for borrowings
with unaffiliated companies. No amount was billed by AEPSC during 1994
as compensation for the use of equity capital, all of which is furnished
to AEPSC by its parent, American Electric Power Company, Inc.
G. R. Knorr
GRK rp
Attachment
cc: P. J. DeMaria
G. P. Maloney
L. V. Assante
__________________________
Note: The above annual statement was provided to each associate
company within the AEP system. Please refer to the
"Analysis of Billing - Associate Companies" appearing on
page 21 of this report for a listing of the associated
companies billed and the respective amounts (Account
457-3).<PAGE>
39
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
SIGNATURE CLAUSE
Pursuant to the requirements of the Public Utility Holding Company
Act of 1935 and the rules and regulations of the Securities and
Exchange Commission issued thereunder, the undersigned company has
duly caused this report to be signed on its behalf by the under-
signed officer thereunto duly authorized.
American Electric Power Service Corporation
(Name of Reporting Company)
By: Gerald R. Knorr
(Signature of Signing Officer)
Gerald R. Knorr - Assistant Treasurer
(Printed Name and Title of Signing Officer)
Date: 04-28-95
<PAGE>
<TABLE>
ANNUAL REPORT OF AMERICAN ELECTRIC POWER SERVICE CORPORATION
For the Year Ended December 31, 1994
<CAPTION>
SCHEDULE XIX - FINANCIAL DATA SCHEDULE
If, at the time an annual report on this form is filed, the registrant is required to
submit this report and any amendments thereto electronically via EDGAR, the
registrant shall furnish a Financial Data Schedule. The Schedule shall set forth the
financial and other data specified below that are applicable to the registrant on a
consolidated basis.
ITEM NO. CAPTION HEADING AMOUNT
(In Thousands)
<S> <C>
1 Net Service Company Property $140,403
2 Total Investments 8,393
3 Total Current and Accrued Assets 70,912
4 Total Deferred Debits 30,523
5 Balancing Amount For Total Assets and Other Debits -0-
6 Total Assets and Other Debits 250,231
7 Total Proprietary Capital 1,350
8 Total Long-Term Debt 86,100
9 Notes Payable 2,826
10 Notes Payable to Associate Companies -0-
11 Balancing Amount For Other Noncurrent Liabilities
and Total Current and Accrued Liabilities 123,675
12 Total Deferred Credits 9,861
13 Accumulated Deferred Income Taxes 26,419
14 Total Liabilities and Proprietary Capital 250,231
15 Services Rendered to Associate Companies 243,764
16 Services Rendered to Nonassociate Companies 71
17 Miscellaneous Income or Loss 263
18 Total Income 244,098
19 Salaries and Wages 121,542
20 Employee Pensions and Benefits 33,742
21 Balancing Amount For Total Expenses 88,814
22 Total Expenses 244,098
23 Net Income (Loss) -0-
24 Total Expenses (Direct Costs) 209,623
25 Total Expenses (Indirect Costs) 34,475
26 Total Expenses (Total) 244,098
27 Number of Personnel End of Year 2,079
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR2
<CIK> 0000313794
<NAME> AMERICAN ELECTRIC POWER SERVICE CORPORATION
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<BOOK-VALUE> PER-BOOK
<NET-SERVICE-COMPANY-PROPERTY> 140,403
<TOTAL-INVESTMENTS> 8,393
<TOTAL-CURRENT-ASSETS> 70,912
<TOTAL-DEFERRED-DEBITS> 30,523
<OTHER-ASSETS-AND-DEBITS> 0
<TOTAL-ASSETS-AND-DEBITS> 250,231
<TOTAL-PROPRIETARY-CAPITAL> 1,350
<TOTAL-LONG-TERM-DEBT> 86,100
<NOTES-PAYABLE> 2,826
<NOTES-PAYABLE-ASSOCIATE-COMP> 0
<OTHER-CURR-AND-ACCRUED-LIAB> 123,675
<TOTAL-DEFERRED-CREDITS> 9,861
<DEFERRED-INCOME-TAX> 26,419
<TOT-LIABIL-AND-PROPRIET-CAP> 250,231
<SERVICES-ASSOCIATE-COMPANIES> 243,764
<SERVICES-NON-ASSOCIATE-COMP> 71
<MISC-INCOME-OR-LOSS> 263
<TOTAL-INCOME> 244,098
<SALARIES-AND-WAGES> 121,542
<EMPLOYEE-PENSION-AND-BENEFIT> 33,742
<OTHER-EXPENSES> 88,814
<TOTAL-EXPENSES> 244,098
<NET-INCOME> 0
<TOTAL-EXPENSES-DIRECT-COST> 209,623
<TOTAL-EXPENSES-INDIRECT-COST> 34,475
<TOT-EXP-DIRECT-AND-INDIRECT> 244,098
<PERSONNEL-END-OF-YEAR> 2,079
</TABLE>
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