<PAGE>
<PAGE> 1
File No. 69-255
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-3A-2
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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<PAGE> 2
FORM U-3A-2
WICOR, Inc. ("WICOR") hereby files with the Securities and
Exchange Commission, pursuant to Rule 2, its statement claiming
exemption as a holding company from the provisions of the Public
Utility Holding Company Act, and submits the following
information:
1. Name, State of organization, location and nature of
business of claimant and every subsidiary thereof, other than any
exempt wholesale generator (EWG) or foreign utility company in
which 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 in 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"), Hypro Corporation ("Hypro"),
WEXCO of Delaware, Inc. ("WEXCO"), WICOR Energy Services Company
("WES") and WICOR Foreign Sales Corporation ("FSC").
Wisconsin Gas is incorporated under the laws of the State of
Wisconsin and maintains its principal office and place of business
in Milwaukee, Wisconsin. Wisconsin Gas is a "gas utility company"
and a "public-utility company" under the Act. At December 31,
1995, Wisconsin Gas distributed gas to 505,000 customers in 503
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
in 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, two in Australia and
Italy, and one each in Germany, Mexico, New Zealand, and Russia.
SHURflo is incorporated under the laws of California and
maintains its principal office and place of business in 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 a sales
distribution facility in England.<PAGE>
<PAGE> 3
Hypro is incorporated under the laws of the State of Minnesota
and maintains its principal office and place of business in New
Brighton, Minnesota. Hypro is a manufacturer and marketer of
pumps for the agricultural spraying, high pressure cleaning,
marine engine cooling, industrial lubrication and recirculation,
firefighting, and other fluid pressurization and transfer markets.
Hypro has manufacturing plans in New Brighton, Minnesota and
Detroit, Michigan.
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.
WICOR Energy Services Company, which does business as WICOR
Gas Marketing, is incorporated under the laws of the State of
Wisconsin and maintains its principal office and place of business
in Milwaukee, Wisconsin. WES, formed in 1995, is in the business
of selling natural gas and related services, primarily in
Wisconsin.
FSC is incorporated under the laws of Barbados and maintains
its principal office and place of business in Milwaukee. FSC
serves as a commission sales agent to each of WICOR's
manufacturing subsidiaries. In this manner each manufacturing
subsidiary qualifies for the export sale income tax advantage
available under the Internal Revenue Code.
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.<PAGE>
<PAGE> 4
Wisconsin Gas, the only "public-utility company" of WICOR,
operates integrated transmission and distribution facilities in
the State of Wisconsin only. On December 31, 1995, Wisconsin Gas'
distribution systems included approximately 8,300 miles of mains,
414,000 services and 539,000 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, 1995, 128,808 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, 1995, 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, 1995, 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.<PAGE>
<PAGE> 5
For the calendar year ended December 31, 1995, Wisconsin Gas
purchased 114,259 Mdth of natural gas outside the State of
Wisconsin for its Wisconsin general system supply.
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.<PAGE>
<PAGE> 6
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, 1995
- Consolidating Statement of Retained Earnings,
Year Ended December 31, 1995
- Consolidating Balance Sheet, December 31, 1995
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 26th day
of February, 1996.
WICOR, Inc.
By /Joseph P. Wenzler/
-------------------
Joseph P. Wenzler
Vice President, Treasurer and
Chief Financial Officer
ATTEST:
[CORPORATE SEAL]
/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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EXHIBIT INDEX
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Exhibit No. Exhibit
- ----------- -----------------------------------------------
- --
1 Consolidating Financial Statements of WICOR,
Inc.
27 Financial data schedule - OPUR3<PAGE>
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<PAGE> 1
EXHIBIT 1
WICOR, Inc. and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
SHURflo
Wisconsin Sta-Rite Pump Hypro WICOR WEXCO of Elim.
WICOR, Gas Industries, Manufac- Corpor- Energy WICOR Delaware, and Consol-
Inc. Company Inc. turing Co. ation Services FSC Inc. Reclass. idated
--------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Revenues:
Operating revenues $ - $ 519,398 $ 262,180 $ 57,145 $ 18,409 $ 3,442 $ 8,927 $ 20 $ (8,927) $ 860,594
Equity in earnings of
subsidiary companies 39,052 - - - - - - - (39,052) -
--------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ----------
39,052 519,398 262,180 57,145 18,409 3,442 8,927 20 (47,979) 860,594
--------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ----------
Costs and Expenses:
Cost of gas sold - 318,728 - - - 3,470 - - - 322,198
Manufacturing
cost of sales - - 199,653 34,446 11,589 - - - - 245,688
Operating and maintenance 936 102,727 50,431 15,686 3,908 789 7,618 32 (7,612) 174,515
Depreciation/amortization 100 28,950 - - 637 9 - - - 29,696
Taxes, other than
income taxes 84 9,331 - - - - - 6 - 9,421
--------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ----------
1,120 459,736 250,084 50,132 16,134 4,268 7,618 38 (7,612) 781,518
--------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ----------
Operating Income 37,932 59,662 12,096 7,013 2,275 (826) 1,309 (18) (40,367) 79,076
Interest Expense (275) (14,312) (3,717) (66) (1,771) - - - 842 (19,299)
Other Income and Expense 2,237 (176) (92) (653) (61) 251 - 483 449 2,438
--------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ----------
1,962 (14,488) (3,809) (719) (1,832) 251 - 483 1,291 (16,861)
--------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ----------
Income Before Income Taxes 39,894 45,174 8,287 6,294 443 (575) 1,309 465 (39,076) 62,215
Income Taxes 367 17,097 2,700 2,218 205 (199) 161 161 (22) 22,688
--------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ----------
Net Income $ 39,527 $ 28,077 $ 5,587 $ 4,076 $ 238 $ (376) $ 1,148 $ 304 $ (39,054) $ 39,527
========= ========== =========== ========== ========= ========= ======== ========= ========== ==========
/TABLE
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<PAGE> 2
WICOR, Inc. and Subsidiaries
Consolidating Balance Sheet
<TABLE>
<CAPTION>
SHURflo
December 31, 1995 Wisconsin Sta-Rite Pump Hypro WICOR WEXCO of Elim.
(Thousands of Dollars) WICOR, Gas Industries Manufac- Corpor- Energy WICOR Delaware, and Consol-
Inc. Company Inc. turing Co. ation Services FSC Inc. Reclass. idated
--------- --------- ---------- ---------- -------- -------- ------- --------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Assets
Current Assets:
Cash and cash equivalents $ 4,416 $ 7,463 $ 5,070 $ 524 $ 652 $ 911 $ 1 $ 1,343 $ - $ $20,380
A/R, less allowance for
doubtful accts of $10,343* - 65,477 50,291 5,895 9,701 839 - - - 132,203
A/R - intercompany 15,308 748 419 1,013 339 50 1,155 4,021 (23,053) -
Accrued utility revenues - 46,935 - - - 1,912 - - - 48,847
Gas in storage - 23,928 - - - 189 - - - 24,117
Manufacturing inventories - - 53,345 6,950 7,941 - - - - 68,236
Deferred income taxes - 16,781 704 929 1,842 - - - - 20,256
Prepayments and other 76 10,985 3,372 350 201 6 - - - 14,990
--------- --------- ---------- ---------- -------- -------- ------- --------- ---------- -----------
19,800 172,317 113,201 15,661 20,676 3,907 1,156 5,364 (23,053) 329,029
--------- --------- ---------- ---------- -------- -------- ------- --------- ---------- -----------
Invest. - Associated Companies 337,241 - - - - - - - (337,241) -
--------- --------- ---------- ---------- -------- -------- ------- --------- ---------- -----------
PP and E, at cost - 757,825 99,946 12,922 6,164 125 - - - 876,982
Less-Accumulated depreciation - 382,424 49,651 8,523 334 10 - - - 440,942
--------- --------- ---------- ---------- -------- -------- ------- --------- ---------- -----------
- 375,401 50,295 4,399 5,830 115 - - - 436,040
--------- --------- ---------- ---------- -------- -------- ------- --------- ---------- -----------
Deferred Charges and Other:
Regulatory assets - 104,145 - - - - - - - 104,145
Deferred income taxes - - - - - - - - - -
Prepaid pensions - 27,012 6,061 - - - - - - 33,073
Systems development costs - 28,868 - - - - - - - 28,868
Goodwill - - 6,686 - 54,410 - - - - 61,096
Other 578 6,458 7,080 806 1,294 47 - - - 16,263
--------- --------- ---------- ---------- -------- -------- ------- --------- ---------- -----------
578 166,483 19,827 806 55,704 47 - - - 243,445
--------- --------- ---------- ---------- -------- -------- ------- --------- ---------- -----------
$357,619 $714,201 $ 183,323 $ 20,866 $82,210 $ 4,069 $1,156 $ 5,364 $(360,294) $1,008,514
========= ========= ========== ========== ======== ======== ======= ========= ========== ===========
* Refers to consolidated information.
/TABLE
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<PAGE> 3
WICOR, Inc. and Subsidiaries
Consolidating Balance Sheet
<TABLE>
<CAPTION>
SHURflo WEXCO
Wisconsin Sta-Rite Pump Man- Hypro WICOR of Dela- Elim.
December 31, 1995 WICOR, Gas Industries ufactur- Corpor- Energy WICOR ware, and Consol-
(Thousands of Dollars) Inc. Company Inc. ing Co. ation Services FSC Inc. Reclass. idated
--------- --------- ---------- --------- -------- -------- ------ --------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Current Liabilities:
Accounts payable $ 6 $ 41,079 $ 18,771 $ 711 $ 2,096 $ 1,257 $ - $ - $ - $ 63,920
Refundable gas costs - 34,347 - - - - - - - 34,347
A/P - intercompany 1,554 6,658 2,929 1,634 9,172 800 6 297 (23,050) -
Short-term borrowings - 57,500 21,877 - 27,000 - - - - 106,377
Current portion of LTD - 4,000 2,825 11 - - - - - 6,836
Accrd payroll and benefits - 8,711 6,913 716 - - - - - 16,340
Accrued taxes 5,020 1,062 857 - - - 1 - - 6,940
Other 155 4,689 8,099 2,745 1,711 2,238 - 1 - 19,638
--------- --------- ---------- --------- -------- -------- ------ --------- ---------- -----------
6,735 158,046 62,271 5,817 39,979 4,295 7 298 (23,050) 254,398
--------- --------- ---------- --------- -------- -------- ------ --------- ---------- -----------
Deferred Credits:
Regulatory liabilities - 64,896 - - - - - - - 64,896
Deferred income taxes (192) 36,654 2,984 (552) 298 50 - 40 - 39,282
Unamort. invest tax credit - 7,724 - - - - - - - 7,724
Environment remediation cost - 36,381 - - - - - - - 36,381
Gas transition costs - 261 - - - - - - - 261
Postretire benefit obligation - 52,968 14,338 - - - - - - 67,306
Other 495 7,864 6,391 (81) 3,496 - - - 122 18,287
--------- --------- ---------- --------- -------- -------- ------ --------- ---------- -----------
303 206,748 23,713 (633) 3,794 50 - 40 122 234,137
--------- --------- ---------- --------- -------- -------- ------ --------- ---------- -----------
Long-term debt 5,315 154,246 14,641 88 423 - - - - 174,713
Redeemable preferred stock - - - - - - - - - -
Common stock 18,237 9 1 100 1 - 1 2 (114) 18,237
Other paid-in capital 219,133 118,842 36,822 2,982 37,775 100 - 17,098 (213,619) 219,133
Retained earnings 113,491 76,310 45,875 12,512 238 (376) 1,148 (12,074) (123,633) 113,491
Unearned compensation (5,595) - - - - - - - - (5,595)
--------- --------- ---------- --------- -------- -------- ------ --------- ---------- -----------
350,581 349,407 97,339 15,682 38,437 (276) 1,149 5,026 (337,366) 519,979
--------- --------- ---------- --------- -------- -------- ------ --------- ---------- -----------
$357,619 $714,201 $ 183,323 $ 20,866 $82,210 $ 4,069 $1,156 $ 5,364 $(360,294) $1,008,514
========= ========= ========== ========= ======== ======== ====== ========= ========== ===========
/TABLE
<PAGE>
<PAGE> 4
WICOR, Inc. and Subsidiaries
Consolidating Statement of Retained Earnings
December 31, 1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
SHURflo
Wisconsin Sta-Rite Pump Hypro WICOR WEXCO of Elim.
WICOR, Gas Industries, Manufac- Corpor- Energy WICOR Delaware, and Consol-
Inc. Company Inc. turing Co. ation Services FSC Inc. Reclass. idated
--------- --------- ----------- ---------- --------- -------- --------- --------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Balance-Beginning of Year $101,418 $ 64,233 $ 45,288 $ 10,436 $ - $ - $ - $(12,378) $(107,579) $101,418
Add: Net income 39,527 28,077 5,587 4,076 238 (376) 1,148 304 (39,054) 39,527
--------- --------- ----------- ---------- --------- -------- --------- --------- ---------- ---------
140,945 92,310 50,875 14,512 238 (376) 1,148 (12,074) (146,633) 140,945
--------- --------- ----------- ---------- --------- -------- --------- --------- ---------- ---------
Deduct:
Common stock dividends,
$1.62 per share* 27,454 16,000 5,000 2,000 - - - - (23,000) 27,454
--------- --------- ----------- ---------- --------- -------- --------- --------- ---------- ---------
27,454 16,000 5,000 2,000 - - - - (23,000) 27,454
--------- --------- ----------- ---------- --------- -------- --------- --------- ---------- ---------
Balance-End of Year $113,491 $ 76,310 $ 45,875 $ 12,512 $ 238 $ (376) $ 1,148 $(12,074) $(123,633) $113,491
========= ========= =========== ========== ========= ======== ========= ========= ========== =========
/TABLE
<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 1,008,514
<TOTAL-OPERATING-REVENUES> 860,594
<NET-INCOME> 39,527
</TABLE>
