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File No. 69-255
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-3A-2 AMENDED
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION
UNDER RULE U-3A-2 FROM THE PROVISIONS OF
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
To Be Filed Annually Prior to March 1
WICOR, Inc.
-----------------------------------------------------------
(Name of holding company claiming exemption)
Robert A. Nuernberg
626 East Wisconsin Avenue
Milwaukee, WI 53202
(Name and address of agent for service)
It is respectfully requested that a copy of all communications relating
to this filing to be sent to:
Joseph P. Wenzler Robert A. Nuernberg
Vice President, Treasurer Secretary
and Chief Financial Officer WICOR, Inc.
WICOR, Inc. 626 East Wisconsin Avenue
626 East Wisconsin Avenue Milwaukee, Wisconsin 53202
Milwaukee, Wisconsin 53202
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FORM U-3A-2
WICOR, Inc. ("WICOR") hereby files with the Securities and Exchange
Commission, pursuant to Rule U-2 and Section 3(a)(1) of the Public Utility
Holding Company Act of 1935 (the "Act"), its statement claiming exemption as
a holding company from the provisions of the Act. In support of such claim for
exemption the following information is submitted:
1. Name, State of organization, location and nature of business of
claimant and every subsidiary thereof, other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly
or indirectly holds an interest.
WICOR, the holding company claiming exemption from the provisions of the
Act, is incorporated under the laws of the State of Wisconsin and maintains its
principal office and place of business at 626 East Wisconsin Avenue, Milwaukee,
Wisconsin. It is not engaged directly in any business. It is the sole
shareholder of Wisconsin Gas Company ("Wisconsin Gas"), Sta-Rite Industries,
Inc. ("Sta-Rite"), SHURflo Pump Manufacturing Co. ("SHURflo") and WEXCO of
Delaware, Inc. ("WEXCO").
Wisconsin Gas is incorporated under the laws of the State of Wisconsin and
maintains its principal office and place of business at 626 East Wisconsin
Avenue, Milwaukee, Wisconsin. Wisconsin Gas is a "gas utility company" and a
"public-utility company" under the Act. At December 31, 1993, Wisconsin Gas
distributed gas to 485,103 customers in 487 communities in Wisconsin, where all
of its business is conducted. Wisconsin Gas is subject to the jurisdiction of
the Public Service Commission of Wisconsin as to various phases of its
operations, including rates, service and issuance of securities.
Sta-Rite is incorporated under the laws of the State of Wisconsin and
maintains its principal office and place of business at 293 Wright Street,
Delavan, Wisconsin. Sta-Rite is a manufacturer of pumps and water processing
equipment for markets throughout the world. Sta-Rite has manufacturing and
assembly activities which are carried on in four plants in the United States,
and one each in Canada, Germany, Italy, Australia and New Zealand.
SHURflo is incorporated under the laws of California and maintains its
principal office and place of business at 12650 Westminster Avenue, Santa Ana,
California. SHURflo is a manufacturer and marketer of pumps for the beverage,
recreational vehicle and marine, industrial and water markets. SHURflo has its
manufacturing plant in Santa Ana, California, a distribution facility in
Indiana, and an assembly warehouse in England.
WEXCO is incorporated under the laws of the State of Delaware and maintains
its principal office and place of business at 626 East Wisconsin Avenue,
Milwaukee, Wisconsin. WEXCO was engaged in natural gas and oil exploration and
development through financial partnerships with established independent
producers. WEXCO sold substantially all of its properties in 1993.
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2. A brief description of the properties of claimant and each of its
subsidiary public utility companies used for the generation,
transmission, and distribution of electric energy for sale, or for the
production, transmission, and distribution of natural or manufactured
gas, indicating the location of principal generating plants,
transmission line, producing fields, gas manufacturing plant, and
electric and gas distribution facilities including all such properties
which are outside the State in which claimant and its subsidiaries are
organized and all transmission or pipelines which deliver or receive
electric energy or gas at the borders of such State.
Wisconsin Gas, the only "public-utility company" of WICOR, operates
integrated transmission and distribution facilities in the State of Wisconsin
only. On December 31, 1993, Wisconsin Gas' distribution systems included
approximately 7,800 miles of mains, 398,000 services and 488,000 active meters.
Wisconsin Gas also owns its main office building in Milwaukee, office buildings
in certain other communities in which it serves, regulating and metering
stations, peaking facilities and its major service centers, including garage
and warehouse facilities. All of Wisconsin Gas' properties are located in
Wisconsin.
3. The following information for the last calendar year with respect to
claimant and each of its subsidiary public utility companies:
(a) Number of kwh of electric energy sold (at retail or wholesale),
and Mcf of natural or manufactured gas distributed at retail.
For the calendar year ended December 31, 1993, 120,527 Mdth of natural gas
were sold at retail or transported by Wisconsin Gas. (One dekatherm (dth)
equals 1,000,000 Btu's. "Mdth" means one thousand dekatherms, or one billion
Btu's.) Neither WICOR nor Wisconsin Gas distributed any manufactured gas at
retail during this period.
(b) Number of kwh of electric energy and Mcf of natural or
manufactured gas distributed at retail outside the State in
which each such company is organized.
For the calendar year ended December 31, 1993, neither WICOR nor Wisconsin
Gas distributed at retail any manufactured or natural gas outside Wisconsin,
the State in which each of these companies is organized.
(c) Number of kwh of electric energy and Mcf of natural or
manufactured gas sold at wholesale outside the State in which
each such company is organized, or at the State line.
For the calendar year ended December 31, 1993, neither WICOR nor Wisconsin
Gas sold at wholesale any natural or manufactured gas outside Wisconsin, the
State in which each of these companies is organized, or at the State line.
(d) Number of kwh of electric energy and Mcf of natural gas or
manufactured gas purchased outside the State in which each such
company is organized, or at the State line.
For the calendar year ended December 31, 1993, Wisconsin Gas purchased
53,138 Mdth of natural gas outside the State of Wisconsin for its Wisconsin
general system supply.
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4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG
or a foreign utility company, stating monetary amounts in U.S.
dollars.
(a) Name, location, business address and description of the
facilities used by the EWG or foreign company for the
generation, transmission and distribution of electric energy for
sale or for the distribution at retail of natural or
manufactured gas.
None.
(b) Name of each system company that holds an interest in such EWG
or foreign utility company; and description of the interest
held.
Not applicable.
(c) Type and amount of capital invested, directly or indirectly, by
the holding company claiming exemption; any direct or indirect
guarantee of the security of the EWG or foreign utility company
by the holding company claiming exemption; and any debt or other
financial obligation for which there is recourse, directly or
indirectly, to the holding company claiming exemption or another
system company, other than the EWG or foreign utility company.
None.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
Not applicable.
(e) Identify any service, sale or construction contract(s) between
the EWG or foreign utility company and a system company, and
describe the services to be rendered or goods sold and fees or
revenues under such agreement(s).
Not applicable.
EXHIBIT 1
A consolidating statement of income and surplus of the claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of claimant and its subsidiary companies as of the close of such
calendar year.
The following consolidating financial statements of WICOR are filed
herewith.
WICOR, Inc. and Subsidiaries
- Consolidating Statement of Income, Year Ended December 31, 1993
- Consolidating Statement of Retained Earnings, Year Ended December 31, 1993
- Consolidating Balance Sheet, December 31, 1993
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EXHIBIT 2
Not required.
EXHIBIT 3
An organization chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding-company system.
Not applicable.
The above-named claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 15th day of April, 1994.
WICOR, Inc.
By /S/ JOSEPH P. WENZLER
---------------------------------
Joseph P. Wenzler
Vice President, Treasurer and
Chief Financial Officer
ATTEST:
[CORPORATE SEAL]
/S/ ROBERT A. NUERNBERG
- - ---------------------------
Robert A. Nuernberg
Secretary
Name, title and address of officer to whom notices and correspondence
concerning the statement should be addressed.
Robert A. Nuernberg, Secretary
WICOR, Inc.
626 E. Wisconsin Avenue
Milwaukee, WI 53202<PAGE>
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WICOR, Inc. and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1993
(Thousands of Dollars)
<TABLE>
<CAPTION>
SHURflo Filtron
Wisconsin Sta-Rite Pump WEXCO of Technology Elim.
WICOR, Gas Industries, Manufac- Delaware, Corpor- and Consol-
Inc. Company Inc. turing Co. Inc. ation Reclass. idated
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Revenues:
Operating revenues $ - $ 574,835 $ 228,030 $ 46,615 $ 48 $ - $ - $ 849,528
Equity in earnings of
subsidiary companies 30,856 - - - - - 30,856 -
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
30,856 574,835 228,030 46,615 48 - 30,856 849,528
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
Costs and Expenses:
Cost of sales - gas - 382,027 - - - - - 382,027
Cost of sales - manufacturing - - 169,059 28,238 - - - 197,297
Operating and maintenance 1,722 109,664 44,109 13,421 152 - - 169,068
Depreciation 152 27,892 - - - - - 28,044
Taxes, other than income taxes 68 9,063 - - 10 - - 9,141
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
1,942 528,646 213,168 41,659 162 - - 785,577
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
Operating Income 28,914 46,189 14,862 4,956 (114) - 30,856 63,951
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
Other Income (Deductions):
Interest expense (259) (14,781) (2,465) (126) - - (203) (17,428)
Interest income 267 10 238 72 206 - 203 590
Other, net - (268) (79) 63 (273) 233 - (324)
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
8 (15,039) (2,306) 9 (67) 233 - (17,162)
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
Income Before Income Taxes 28,922 31,150 12,556 4,965 (181) 233 30,856 46,789
Income Taxes (391) 11,280 5,050 1,600 (63) - - 17,476
--------- ---------- ----------- ---------- --------- ---------- --------- ----------
Net Income $ 29,313 $ 19,870 $ 7,506 $ 3,365 $ (118) $ 233 $ 30,856 $ 29,313
========= ========== =========== ========== ========= ========== ========= ==========
/TABLE
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WICOR, Inc. and Subsidiaries
Consolidating Statement of Retained Earnings
Year Ended December 31, 1993
(Thousands of Dollars)
<TABLE>
<CAPTION>
SHURflo Filtron
Wisconsin Sta-Rite Pump WEXCO of Technology Elim.
WICOR, Gas Industries, Manufac- Delaware, Corpor- and Consol-
Inc. Company Inc. turing Co. Inc. ation Reclass. idated
--------- ---------- ----------- ---------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Balance - Beginning of Year $ 90,102 $ 57,467 $ 37,873 $ 6,445 $(12,674) $ 167 $ 89,278 $ 90,102
Add: Net income 29,313 19,870 7,506 3,365 (118) 233 30,856 29,313
--------- ---------- ----------- ---------- --------- ---------- --------- ---------
119,415 77,337 45,379 9,810 (12,792) 400 120,134 119,415
--------- ---------- ----------- ---------- --------- ---------- --------- ---------
Deduct:
Adjustment to conform fiscal
year of SHURflo Pump
Manufacturing Co. 152 - - 152 - - 152 152
Common stock dividends,
$1.54 per share* 24,099 16,000 5,000 500 - - 21,500 24,099
Distribution to SHURflo Pump
Manufacturing Co. partners 521 - - 521 - - 521 521
--------- ---------- ----------- ---------- --------- ---------- --------- ---------
24,772 16,000 5,000 1,173 - - 22,173 24,772
--------- ---------- ----------- ---------- --------- ---------- --------- ---------
Balance - End of Year $ 94,643 $ 61,337 $ 40,379 $ 8,637 $(12,792) $ 400 $ 97,961 $ 94,643
========= ========== =========== ========== ========= ========== ========= =========
</TABLE>
* Refers to consolidated information.<PAGE>
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WICOR, Inc. and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
<TABLE>
<CAPTION>
SHURflo
(Thousands of Dollars) Wisconsin Sta-Rite Pump WEXCO of Elim.
WICOR, Gas Industries, Manufac- Delaware, and Consol-
Assets Inc. Company Inc. turing Co. Inc. Reclass. idated
- - ------ ---------- ---------- ----------- ---------- --------- ---------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Current Assets:
Cash and temporary cash investments $ 7,105 $ 9,680 $ 5,496 $ 624 $ 48 $ - $ 22,953
Accounts receivable, less allowance
for doubtful accounts of $9,351* - 64,006 43,341 4,061 - - 111,408
Accounts receivable - intercompany 2,162 - 729 - 4,491 7,382 -
Accrued utility revenues - 53,483 - - - - 53,483
Gas inventory - 44,697 - - - - 44,697
Manufacturing inventory - - 51,397 6,682 - - 58,079
Deferred income taxes 146 8,280 1,020 559 - - 10,005
Prepayments and other 112 11,473 2,282 102 - - 13,969
---------- ---------- ----------- ---------- --------- ---------- ------------
9,525 191,619 104,265 12,028 4,539 7,382 314,594
---------- ---------- ----------- ---------- --------- ---------- ------------
Investments - Associated Companies 265,992 - - - - 265,992 -
---------- ---------- ----------- ---------- --------- ---------- ------------
Property, Plant and Equipment, at cost - 679,968 87,642 10,094 - - 777,704
Less - Accumulated Depreciation - 330,259 40,464 6,281 - - 377,004
---------- ---------- ----------- ---------- --------- ---------- ------------
- 349,709 47,178 3,813 - - 400,700
---------- ---------- ----------- ---------- --------- ---------- ------------
Deferred Charges and Other:
Deferred income taxes - - - - - - -
Prepaid pensions - 24,418 5,162 - - - 29,580
Gas transition costs - 15,485 - - - - 15,485
Deferred environmental costs - 41,641 - - - - 41,641
Other regulatory assets - 57,211 - - - - 57,211
Deferred systems development costs - 38,808 - - - - 38,808
Other 4,214 18,321 12,487 686 - 1 35,707
---------- ---------- ----------- ---------- --------- ---------- ------------
4,214 195,884 17,649 686 - 1 218,432
---------- ---------- ----------- ---------- --------- ---------- ------------
$ 279,731 $ 737,212 $ 169,092 $ 16,527 $ 4,539 $ 273,375 $ 933,726
========== ========== =========== ========== ========= ========== ============
* Refers to consolidated information.
/TABLE
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WICOR, Inc. and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
<TABLE>
<CAPTION>
(Thousands of Dollars) SHURflo
Wisconsin Sta-Rite Pump WEXCO of Elim.
WICOR, Gas Industries, Manufac- Delaware, and Consol-
Liabilities and Capitalization Inc. Company Inc. turing Co. Inc. Reclass. idated
- - ------------------------------ ---------- ---------- ----------- ---------- --------- ---------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Current Liabilities:
Accounts payable $ - $ 45,828 $ 15,720 $ 1,135 $ - $ - $ 62,683
Refundable gas costs - 15,596 - - - - 15,596
Accounts payable - intercompany - 5,720 - 1,653 9 7,382 -
Short-term borrowings - 108,000 26,918 - - - 134,918
Current portion of long-term debt - 2,000 838 9 - - 2,847
Accrued payroll and benefits - 7,560 6,466 630 - - 14,656
Accrued taxes 2,875 2,462 3,461 1,291 - - 10,089
Other 353 3,715 10,277 854 - - 15,199
---------- ---------- ----------- ---------- --------- ---------- ------------
3,228 190,881 63,680 5,572 9 7,382 255,988
Deferred Credits: ---------- ---------- ----------- ---------- --------- ---------- ------------
Deferred income taxes - 43,590 2,878 (802) 212 - 45,878
Unamortized investment tax credit - 8,654 - - - - 8,654
Environmental remediation costs - 40,000 - - - - 40,000
Gas transition costs - 15,485 - - - - 15,485
Postretirement benefit obligation - 53,895 13,615 - - - 67,510
Other regulatory liabilities - 50,179 - - - - 50,179
Other (1,257) 12,238 1,872 (78) 10 (1,741) 14,526
---------- ---------- ----------- ---------- --------- ---------- ------------
(1,257) 224,041 18,365 (880) 222 (1,741) 242,232
Capitalization: ---------- ---------- ----------- ---------- --------- ---------- ------------
Long-term debt 7,484 147,644 9,986 116 - - 165,230
Redeemable preferred stock - - - - - - -
Common equity:
Common stock 16,407 9 1 100 2 112 16,407
Other paid-in capital 166,710 113,300 36,681 2,982 17,098 170,061 166,710
Retained earnings 94,643 61,337 40,379 8,637 (12,792) 97,561 94,643
Unearned compensation (7,484) - - - - - (7,484)
---------- ---------- ----------- ---------- --------- ---------- ------------
277,760 322,290 87,047 11,835 4,308 267,734 435,506
---------- ---------- ----------- ---------- --------- ---------- ------------
$ 279,731 $ 737,212 $ 169,092 $ 16,527 $ 4,539 $ 273,375 $ 933,726
========== ========== =========== ========== ========= ========== ============
/TABLE
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