|
|
|
|
|
|
|
|
|
|
Previous: GINTEL FUND, NSAR-B, 1995-02-27 |
Next: CAMELOT FUNDS /KY, NSAR-B, 1995-02-27 |
File No. 69-250
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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
TECO Energy, Inc., TECO Power Services Corporation and Hardee
Power I, Inc., hereby file with the Securities and Exchange
Commission, pursuant to Rule 2, their statements claiming
exemption as holding companies from the provisions of the Public
Utility Holding Company Act of 1935 (the "Act") and submit the
following information:<PAGE>
1. Name, state of organization, location and nature of business
of claimants and every subsidiary thereof, other than any
exempt wholesale generator (EWG) or foreign utility company
in which claimant directly or indirectly holds an interest.
Claimant, TECO Energy, Inc. ("TECO Energy"), is a corporation
organized on Jan. 15, 1981, under the laws of the State of
Florida and a holding company exempt from registration
pursuant to Rule 2 under the Act (File no. 69-250). TECO
Energy conducts no business and owns no operating assets, but
does own directly or indirectly the common stock of, or a
partnership interest in, thirty-five subsidiaries. All of
the subsidiaries are organized under the laws of Florida with
the exception of Electro-Coal Transfer Corporation, which is
a Louisiana corporation, Gatliff Coal Company, Clintwood
Elkhorn Mining Company, Pike-Letcher Land Company and Premier
Elkhorn Coal Company which are Kentucky corporations, Rich
Mountain Coal Company which is a Tennessee corporation, TECO
Coalbed Methane Inc., which is an Alabama corporation, and
Clean Power, Inc. and Clean Power Cogeneration, Inc. which
are Delaware corporations.
Claimant, TECO Power Services Corporation ("TECO Power"), is
a corporation organized on May 26, 1987 under the laws of the
S t a te of Florida and a holding company exempt from
registration pursuant to Rule 2 under the Act (File no. 69-
250). TECO Power owns no operating assets, but does own
directly or indirectly the common stock of, or a partnership
interest in, twelve affiliated companies. All of the
affiliates are organized under the laws of Florida with the
exception of Clean Power, Inc. and Clean Power Cogeneration,
Inc. which are Delaware corporations and Tampa Centro
Americana De Electricidad, Limitada of which TPS Guatemala
One, Inc. owns 87.5 percent partnership interest which is
organized under the laws of Guatemala. TECO Power is a
direct, wholly owned subsidiary of TECO Energy.
Claimant, Hardee Power I, Inc. ("Hardee Power I"), is a
corporation organized on March 21, 1990, under the laws of
the State of Florida and a holding company exempt from
registration pursuant to Rule 2 under the Act (File no. 69-
250). Hardee Power I, owns no operating assets, but does own
a general partnership interest in Hardee Power Partners, Ltd.
("Hardee Power Partners"), a public utility company for
purposes of the Act. Hardee Power Partners is a limited
partnership organized under the laws of Florida. Hardee
Power I is a direct, wholly owned subsidiary of TECO Power
and has no subsidiaries or partnership interest other than a
partnership interest in Hardee Power Partners.
2<PAGE>
TECO Energy previously applied for and received an order
pursuant to Sections 9(a)(2) and 10 of the Act approving its
direct or indirect acquisition of up to 100% of the voting
securities of Hardee Power Partners. (See Act Release No.
35-25199). Other than Hardee Power Partners, no subsidiary
of TECO Power or Hardee Power I is a public utility company
for purposes of the Act.
The principal business address, location and nature of
business of the claimants and each of the thirty-five
affiliated entities are as follows:
Name and address Location and nature of
business
TECO Energy, Inc. Florida. Parent company.
(TECO Energy)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Tampa Electric Company Florida. Generates, purchases
(Tampa Electric) transmits, distributes and
TECO Plaza sells electric energy.
702 North Franklin Street
Tampa, FL 33602
TERMCO, Inc. Florida. Acts as exclusive
(TERMCO) broker for Tampa Electric
TECO Plaza in the purchase and sale
702 N. Franklin Street of real property.
Tampa, FL 33602
TECO Investments, Inc. Florida. Invests capital
(TECO Investments) in short- and long-term
TECO Plaza financial investments.
702 North Franklin Street
Tampa, FL 33602
3<PAGE>
Name and address Location and nature of
business
TECO Energy Management Florida. Development of
Services Corporation energy management and
(TEMS) communications systems.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
TECO Finance, Inc. Florida. Finances the
(TECO Finance) diversified activities of
TECO Plaza TECO Energy.
702 North Franklin Street
Tampa, FL 33602
TECO Diversified, Inc. Florida. Holding company
(TECO Diversified) for TECO Transport, TECO
TECO Plaza Coal, TECO Properties and
702 North Franklin Street TECO Coalbed Methane.
Tampa, FL 33602
TECO Coal Corporation Florida. Holding company
(TECO Coal) for Gatliff, Clintwood,
P. O. Box 39 Rich Mountain, Pike-Letcher
Nevisdale, KY 40754 and Premier Elkhorn.
Clintwood Elkhorn Mining Kentucky. Coal mining and
Company processing company.
(Clintwood)
P. O. Box 39
Nevisdale, KY 40754
Gatliff Coal Company Kentucky. Coal mining and
(Gatliff) processing company.
P. O. Box 39
Nevisdale, KY 40754
Pike-Letcher Land Company Kentucky. Land management
(Pike-Letcher) company.
P. O. Box 39
Nevisdale, KY 40754
Premier Elkhorn Coal Company Kentucky. Coal mining and
(Premier Elkhorn) processing company.
P. O. Box 39
Nevisdale, KY 40754
Rich Mountain Coal Company Tennessee. Coal mining
(Rich Mountain) company.
P. O. Box 39
Nevisdale, KY 40754
4<PAGE>
Name and address Location and nature of
business
TECO Coalbed Methane, Inc. Alabama. Participates in
(TECO Coalbed Methane) the production of natural
TECO Plaza gas from coal seams.
702 North Franklin Street
Tampa, FL 33602
TECO Properties Corporation Florida. Real estate
(TECO Properties) investment company.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
CPSC, Inc. Florida. General partner
(CPSC) of City Plaza Partners,
TECO Plaza a limited partnership in
702 N. Franklin Street a real estate investment.
Tampa, FL 33602
City Plaza Partners, Ltd. Florida. Limited partnership
(City Plaza Partners) in a real estate investment.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
30th Street R&D Park, Inc. Florida. Real estate
(30th Street R&D) investment.
702 N. Franklin Street
Tampa, FL 33602
TECO Transport & Trade Florida. Holding company
Corporation for Electro-Coal, Gulfcoast,
(TECO Transport) Mid-South, G C Service and
5405 West Cypress Street TECO Towing.
Suite 300
Tampa, FL 33607
5<PAGE>
Name and address Location and nature of
business
Electro-Coal Transfer Corp. Louisiana. Transfers and
(Electro-Coal) stores coal and other bulk
5405 West Cypress Street commodities.
Suite 300
Tampa, FL 33607
G C Service Company, Inc. Florida. Unloads coal from
(G C Service) ocean-going barges and
5405 West Cypress Street repairs vessels.
Suite 300
Tampa, FL 33607
Gulfcoast Transit Company Florida. Transports coal and
(Gulfcoast) other bulk commodities in
5405 West Cypress Street ocean-going barges to various
Suite 300 domestic and international
Tampa, FL 33607 destinations.
Mid-South Towing Company Ohio and Mississippi
(Mid-South) rivers. Transports coal
5405 West Cypress Street and other bulk commodities
Suite 300 in river barges.
Tampa, FL 33607
TECO Towing Company Ohio and Mississippi rivers.
(TECO Towing) Charters river barges.
5405 West Cypress Street
Suite 300
Tampa, FL 33607
TECO Power Services Corporation Florida. Holding company.
(TECO Power) Developer and joint venture
TECO Plaza partner in independent power (1)
702 North Franklin Street generation projects.
Tampa, FL 33602
Hardee Power I, Inc. Florida. General partner (1)
(Hardee Power I) of Hardee Power Partners.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Hardee Power II, Inc. Florida. Limited partner of
(Hardee Power II) Hardee Power Partners.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
6<PAGE>
Name and address Location and nature of
business
Hardee Power Partners Florida. Limited
Limited partnership which owns
(Hardee Power Partners) Hardee Power Station, a
TECO Plaza wholesale power generation (1)
702 North Franklin Street project.
Tampa, FL 33602
TPS Honduras One, Inc. Florida. Subsidiary formed
(TPS Honduras One) for the purpose of
TECO Plaza potentially developing a
702 North Franklin Street wholesale power generation
Tampa, FL 33602 project.
TPS Guatemala One, Inc. Florida. Subsidiary formed
(TPS Guatemala One) for the purpose of developing
TECO Plaza a wholesale power generation
702 North Franklin Street project.
Tampa, FL 33602
Tampa Centro Americana Guatemala. Limitada
De Electricidad, Limitada corporation which is
(TCAE) developing a wholesale power
7a. Avda, 6-53 Zona 4 generation project with
Edifico El Triangulo 5 o Nivel construction to be completed
Guatemala City, Guatemala in 1995.
TPS Operations Company Florida. Operator of Hardee
(TPS Operations) Power Station on a
TECO Plaza cost-reimbursement basis.
702 North Franklin Street
Tampa, FL 33602
Clean Power Cogeneration, Inc. Florida. Subsidiary formed
(Clean Power Cogeneration) for the purpose of
TECO Plaza potentially developing a
702 North Franklin Street wholesale power generation
Tampa, FL 33602 project.
Clean Power, Inc. Florida. Subsidiary formed
(Clean Power) for the purpose of
TECO Plaza potentially developing a
702 North Franklin Street wholesale power generation
Tampa, FL 33602 project.
7<PAGE>
Name and address Location and nature of
business
TPS Clean Coal, Inc. Florida. Subsidiary formed
(TPS Clean Coal) for the purpose of
TECO Plaza potentially developing a
702 North Franklin Street wholesale power generation
Tampa, FL 33602 project.
Lake County Power Resources, Inc. Florida. Subsidiary formed
(Lake County Power) for the purpose of
TECO Plaza potentially developing a
702 North Franklin Street wholesale power generation
Tampa, FL 33602 project.
(1) Hardee Power I, as the general partner of Hardee Power
Partners, TECO Power, as the owner of all outstanding voting
securities of Hardee Power I and thus the indirect owner of
all outstanding voting securities of Hardee Power Partners,
and TECO Energy, as the owner of all outstanding voting
securities of TECO Power and thus the indirect owner of all
outstanding voting securities of Hardee Power Partners, are
each a "holding company" with respect to Hardee Power Partners
for purposes of the Act.
2. A brief description of the properties of claimants and each
of their subsidiary public utility companies used for the
generation, transmission, and distribution of electric energy
for sale, or for the production, transmission, and
distribution of natural or manufactured gas, indicating the
location of principal generating plants, transmission lines,
producing fields, gas manufacturing plants, and electric and
gas distribution facilities, including all such properties
which are outside the State in which the claimants and their
subsidiaries are organized and all transmission or pipelines
which deliver or receive electric energy or gas at the
borders of such State.
The only properties to which this question applies are the
following properties of Tampa Electric and Hardee Power
Partners:
Tampa Electric had four electric generating plants and four
combustion turbine units in service with a total net
generating capability at Dec. 31, 1994 of 3,393 MWs,
including Big Bend (1,747-MW capability for four coal units),
Gannon (1,196-MW capability for six coal units), Hookers
Point (212-MW capability for five oil units), Phillips (34-MW
capability for two diesel units) and four combustion turbine
units located at the Big Bend and Gannon stations (204 Mws).
Capability as used herein represents the demonstrable
dependable load carrying abilities of the generating units
8<PAGE>
during peak periods as proven under actual operating
conditions. Units at Hookers Point went into service from
1948 to 1955, at Gannon from 1957 to 1967, and at Big Bend
from 1970 to 1985. In 1991, Tampa Electric purchased two
power plants (Dinner Lake and Phillips) from the Sebring
Utilities Commission (Sebring). Dinner Lake and Phillips
were placed in service by Sebring in 1966 and 1983,
respectively. In 1986, Hookers Point and one combustion
turbine unit were placed on long-term reserve standby. The
combustion turbine was returned to service in 1988 and
Hookers Point was returned to service in late 1990. In March
1994, Tampa Electric placed Dinner Lake on long-term reserve
standby.
In 1994 Tampa Electric purchased approximately 4,350 acres of
previously mined land located in Polk County, Florida. This
site will accommodate Polk Power Unit One, a 250 MW coal
gasification plant currently being constructed, and
additional generating capacity in the future.
Tampa Electric owns 176 substations having an aggregate
transformer capacity of 15,229,556 KVA. The transmission
system consists of approximately 1,183 pole miles of high
voltage transmission lines, and the distribution system
consists of 6,791 pole miles of overhead lines and 2,357
trench miles of underground lines. As of Dec. 31, 1994,
there were 491,101 meters in service. All of the foregoing
property is located within Florida.
All plants and important fixed assets are held in fee except
that title to some of the properties are subject to
easements, leases, contracts, covenants and similar
encumbrances and minor defects, of the nature common to
properties of the size and character of those of Tampa
Electric.
Tampa Electric has easements for rights-of-way adequate for
the maintenance and operation of its electrical transmission
and distribution lines that are not constructed upon public
highways, roads and streets. It has the power of eminent
domain under Florida law for the acquisition of any such
rights-of-way for the operation of transmission and
distribution lines. Transmission and distribution lines
located in public ways are maintained under franchises or
permits.
Tampa Electric has a long-term lease for the office building
in downtown Tampa, Florida, that serves as headquarters for
Tampa Electric, TECO Energy and certain other TECO Energy
subsidiaries.
9<PAGE>
Hardee Power Partners has one electric generating plant, the
Hardee Power Station, which went into commercial operation
January 1, 1993. At that date the plant had a net generating
capability of 295 Mws consisting of one combined cycle unit
(220 MWs) and one combustion turbine (75 MWs). The Station
is located in Hardee County, Florida on property under a
long-term lease. Capability as used herein represents the
demonstrable dependable load carrying abilities of the unit
during peak periods as proven under demonstration tests.
Hardee Power Partners owns no transmission or distribution
facilities.
3. The following information for the last calendar year with
respect to the claimants and each of their 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.
TECO Energy - None
Tampa Electric - 16,033,650,000 KWH
TECO Power - None
Hardee Power I - None
Hardee Power Partners - 311,532,000 KWH
No distribution of natural or manufactured gas.
(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.
TECO Energy - None
Tampa Electric - None
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
10<PAGE>
(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.
TECO Energy - None
Tampa Electric - 150,000 KWH
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
(d) Number of KWH of electric energy and Mcf. of natural or
manufactured gas purchased outside the State in which
each such company is organized or at the State line.
TECO Energy - None
Tampa Electric - None
TECO Power - None
Hardee Power I - None
Hardee Power Partners - 2,494,982 Mcf. of natural
gas
4. The following information for the reporting period with
respect to claimants and each interest it holds directly or
indirectly in an EWG or a foreign utility company, stating
monetary amounts in United States dollars.
TECO Energy - None
Tampa Electric - None
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
Attached hereto as Exhibit A are consolidating statements of
income and retained earnings and a consolidating balance sheet of
TECO Energy, TECO Power, and Hardee Power I, and their
subsidiaries for the calendar year 1994.
11<PAGE>
Each of TECO Energy, TECO Power, and Hardee Power I has caused
this statement to be duly executed on its behalf by its
authorized officer on this 24th day of February, 1995.
(CORPORATE SEAL) TECO ENERGY, INC.
Attest:
BY: /s/A. D. Oak
A. D. Oak
/s/R.H. Kessel Senior Vice President -
R. H. Kessel, Secretary Finance, Treasurer and
Chief Financial Officer
(CORPORATE SEAL) TECO POWER SERVICES
CORPORATION
Attest:
BY: /s/L. A. Miller
/s/R. H. Kessel L. A. Miller
R. H. Kessel, Secretary Vice President -
Controller
(CORPORATE SEAL) HARDEE POWER I, INC.
Attest:
BY: /s/L. A. Miller
/s/R.H. Kessel L. A. Miller
R. H. Kessel, Secretary Vice President -
Controller
Name, title and address of officer to whom notices and
correspondence concerning this statement should be addressed:
Name: W. L. Griffin
Title: Vice President-Controller
Address: TECO Energy, Inc.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
12<PAGE>
<TABLE>
EXHIBIT A
PAGE 1 OF 32
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
<CAPTION>
Tampa TECO TECO TECO
Electric Diversified Energy - Energy, Inc.
ASSETS Company Consolidated Parent Only Other Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash equivalents $ 7,211 $ 10,014 $ 5,216 $ 13,356 $ - $ 35,797
Short-term investments - 69,444 - 31,095 - 100,539
Receivables, less
allowance for
uncollectibles 103,368 50,428 107,130 284,081 (400,392) 144,615
Inventories, at average
cost
Fuel 95,831 4,641 - 1,347 - 101,819
Materials and supplies 38,465 9,307 - 1,907 - 49,679
Prepayments 2,675 4,123 - 1,802 - 8,600
247,550 147,957 112,346 333,588 (400,392) 441,049
Investment in subsidiaries - - 1,379,585 - (1,379,585) -
Property, plant & equipment,
at original cost
Utility plant in service 2,854,240 - - 206,519 - 3,060,759
Construction work in
progress 246,089 40,535 - - - 286,624
Other property 194 746,920 - 309 934 748,357
3,100,523 787,455 - 206,828 934 4,095,740
Less accum. depreciation 1,115,167 347,743 - 12,542 - 1,475,452
1,985,356 439,712 - 194,286 934 2,620,288
Other assets
Other investments - 38,772 2,378 65,843 - 106,993
Deferred income taxes 48,225 4,074 - - - 52,299
Deferred charges &
other assets 67,610 10,860 7,289 5,774 - 91,533
115,835 53,706 9,667 71,617 - 250,825
$2,348,741 $641,375 $1,501,598 $599,491 ($1,779,043) $3,312,162
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 2 OF 32
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
<CAPTION>
Tampa TECO TECO TECO
Electric Diversified Energy - Energy, Inc.
LIABILITIES AND CAPITAL Company Consolidated Parent Only Other Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current liabilities
Long-term debt due
within one year $ 1,260 $ 1,275 $ - $ 5,306 $ - $ 7,841
Notes payable 91,800 180 90,505 258,100 (90,685) 349,900
Accounts payable 113,759 56,532 263,927 26,480 (315,375) 145,323
Customer deposits 49,457 - - - - 49,457
Interest accrued 11,166 517 1,946 1,762 - 15,391
Taxes accrued 2,152 649 (6,904) (1,397) 5,712 212
269,594 59,153 349,474 290,251 (400,348) 568,124
Deferred income taxes 289,357 62,566 (32,566) 71,438 - 390,795
Investment tax credit 63,265 3,362 - - - 66,627
Deferred fuel 5,393 - - - - 5,393
Regulatory liability -
tax related 57,500 - - - - 57,500
Other deferred credits 52,151 6,960 1,041 513 - 60,665
Long-term debt, less
amount due within one year 607,270 113,427 100,000 203,184 - 1,023,881
Preferred stock of
Tampa Electric 54,956 - - - - 54,956
Common stock 775,956 354,717 447,704 57,610 (1,188,283) 447,704
Retained earnings 173,299 41,190 715,095 (23,505) (190,412) 715,667
Unearned compensation
related to ESOP - - (79,150) - - (79,150)
$2,348,741 $641,375 $1,501,598 $599,491 ($1,779,043) $3,312,162
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 3 OF 32
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
<CAPTION>
Tampa TECO TECO TECO
Electric Diversified Energy - Energy, Inc.
Company Consolidated Parent Only Other Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Revenues $1,094,865 $408,808 $ - $63,628 ($216,448) $1,350,853
Expenses
Operation 594,359 265,491 2,188 43,561 (234,770) 670,829
Maintenance 72,831 27,852 - 383 - 101,066
Restructuring charge and
other cost reductions 21,299 2,140 1,258 340 - 25,037
Depreciation 115,111 52,524 - 6,352 - 173,987
Taxes-other than income 86,735 19,951 - 3,437 - 110,123
Taxes-section 29 credits - (19,626) - - 19,626 -
890,335 348,332 3,446 54,073 (215,144) 1,081,042
Income from operations 204,530 60,476 (3,446) 9,555 (1,304) 269,811
Other income (expense)
Allowance for other funds
used during construction 3,541 - - - - 3,541
Other income (expense), net 119 4,448 10,197 365 (8,794) 6,335
Preferred dividend req.
of Tampa Electric - - - - (3,568) (3,568)
3,660 4,448 10,197 365 (12,362) 6,308
Income before interest &
income taxes 208,190 64,924 6,751 9,920 (13,666) 276,119
Interest charges
Interest expense 41,547 4,484 9,413 14,792 9,035 79,271
Allowance for borrowed
funds used during
construction (2,134) - - - - (2,134)
39,413 4,484 9,413 14,792 9,035 77,137
Income before provision
for income taxes 168,777 60,440 (2,662) (4,872) (22,701) 198,982
Provision for income taxes 58,725 12,151 (2,387) (2,979) (19,705) 45,805
Preferred dividend req.
of Tampa Electric 3,568 - - - (3,568) -
Net income $ 106,484 $ 48,289 $ (275) $(1,893) $ 572 $ 153,177
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 4 OF 32
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
<CAPTION>
Tampa TECO TECO TECO
Electric Diversified Energy - Energy, Inc.
Company Consolidated Parent Only Other Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning of
period $182,939 $41,939 $675,861 ($16,697) ($208,181) $675,861
Add
Net income 110,052 48,289 152,605(1) (1,893) (155,876) 153,177
Tax benefits - ESOP
dividends - - 2,222 - - 2,222
292,991 90,228 830,688 (18,590) (364,057) 831,260
Deduct
Cash dividends on
capital stock
Preferred 3,568 - - - (3,568) -
Common 115,799 49,038 115,593 4,915 (169,752) 115,593
Other 325(2) - - - (325) -
Balance, end of period $173,299 $41,190 $715,095 ($23,505) ($190,412) $715,667
<FN>
1 Includes $156,448 of TECO Energy's equity in earnings of subsidiaries.
2 Reclass of $325 per regulatory directives.
</TABLE>
<PAGE>
EXHIBIT A
PAGE 5 OF 32
TECO TRANSPORT & TRADE
CONSOLIDATED BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 2,708
Short-term investments 69,439
Receivables, less allowance for uncollectibles 23,331
Inventories, at average cost
Materials and supplies 8,002
Prepayments 1,208
104,688
Property, plant and equipment, at original cost
Construction work in progress 2,517
Other property 381,800
384,317
Less accumulated depreciation 234,275
150,042
Other assets
Deferred income taxes 1,414
Deferred charges & other assets 519
1,933
$256,663 <PAGE>
EXHIBIT A
PAGE 6 OF 32
TECO TRANSPORT & TRADE
CONSOLIDATED BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 13,413
Interest accrued 517
Taxes accrued (825)
13,105
Deferred income taxes 30,761
Investment tax credit 3,344
Other deferred credits 4,558
Long-term debt, less amount due within one year 110,600
Common stock 52,133
Retained earnings 42,162
$256,663 <PAGE>
EXHIBIT A
PAGE 7 OF 32
TECO TRANSPORT & TRADE
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Revenues $191,478
Expenses
Operation 115,620
Maintenance 18,695
Restructuring charge and other
cost reductions 1,057
Depreciation 24,804
Taxes-other than income 5,834
166,010
Income from operations 25,468
Other income 4,125
Income before interest & income taxes 29,593
Interest expense 4,005
Income before provision for income taxes 25,588
Provision for income taxes 8,027
Net income $ 17,561 <PAGE>
EXHIBIT A
PAGE 8 OF 32
TECO TRANSPORT & TRADE
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Balance, beginning of period $43,502
Add
Net income 17,561
61,063
Deduct
Cash dividends on capital stock
Common 18,901
Balance, end of period $42,162 <PAGE>
EXHIBIT A
PAGE 9 OF 32
TECO COAL
CONSOLIDATED BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 5,748
Short-term investments 5
Receivables, less allowance for uncollectibles 22,112
Inventories, at average cost
Fuel 4,641
Materials and supplies 1,305
Prepayments 2,914
36,725
Property, plant and equipment, at original cost
Construction work in progress 38,018
Other property 153,755
191,773
Less accumulated depreciation 65,050
126,723
Other assets
Deferred income taxes 1,633
Deferred charges & other assets 9,931
11,564
$175,012 <PAGE>
EXHIBIT A
PAGE 10 OF 32
TECO COAL
CONSOLIDATED BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 36,004
Taxes accrued 2,625
38,629
Investment tax credit 18
Other deferred credits 1,257
Common stock 118,177
Retained earnings 16,931
$175,012 <PAGE>
EXHIBIT A
PAGE 11 OF 32
TECO COAL
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Revenues $180,211
Expenses
Operation 131,786
Maintenance 9,081
Restructuring charge and other
cost reductions 1,006
Depreciation 11,765
Taxes-other than income 12,449
166,087
Income from operations 14,124
Other income 161
Income before interest & income taxes 14,285
Interest expense 116
Income before provision for income taxes 14,169
Provision for income taxes 3,779
Net income $ 10,390 <PAGE>
EXHIBIT A
PAGE 12 OF 32
TECO COAL
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Balance, beginning of period $15,205
Add
Net income 10,390
25,595
Deduct
Cash dividends on capital stock
Common 8,664
Balance, end of period $16,931 <PAGE>
EXHIBIT A
PAGE 13 OF 32
TECO PROPERTIES
CONSOLIDATED BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 745
Receivables, less allowance for uncollectibles 147
Prepayments 1
893
Property, plant and equipment, at original cost
Other property 20,486
Less accumulated depreciation 1,803
18,683
Other assets
Other investments 38,772
Deferred income taxes 1,027
Deferred charges & other assets 410
40,209
$59,785 <PAGE>
EXHIBIT A
PAGE 14 OF 32
TECO PROPERTIES
CONSOLIDATED BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ 8,180
Accounts payable 159
Taxes accrued 8
8,347
Deferred income taxes 1,780
Common stock 49,985
Retained earnings (327)
$59,785 <PAGE>
EXHIBIT A
PAGE 15 OF 32
TECO PROPERTIES
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Revenues $2,818
Expenses
Operation 926
Maintenance 76
Restructuring charge and other
cost reductions 77
Depreciation 289
Taxes-other than income 264
1,632
Income from operations 1,186
Interest expense 4
Income before provision for income taxes 1,182
Provision for income taxes 444
Net income $ 738 <PAGE>
EXHIBIT A
PAGE 16 OF 32
TECO PROPERTIES
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Balance, beginning of period ($1,065)
Add
Net income 738
(327)
Deduct
Cash dividends on capital stock
Common -
Balance, end of period ($ 327)<PAGE>
EXHIBIT A
PAGE 17 OF 32
TECO COALBED METHANE
BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 716
Receivables, less allowance for uncollectibles 4,838
5,554
Property, plant and equipment, at original cost
Other property 190,879
Less accumulated depreciation 46,615
144,264
$149,818 <PAGE>
EXHIBIT A
PAGE 18 OF 32
TECO COALBED METHANE
BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 1,275
Notes payable 107,458
Accounts payable 2,361
Taxes accrued (1,159)
109,935
Deferred income taxes 30,025
Other deferred credits 1,145
Long-term debt, less amount due within one year 2,827
Retained earnings 5,886
$149,818 <PAGE>
EXHIBIT A
PAGE 19 OF 32
TECO COALBED METHANE
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Revenues $34,301
Expenses
Operation 17,159
Depreciation 15,666
Taxes-other than income 1,404
Taxes-section 29 credits (19,626)
14,603
Income from operations 19,698
Other income 162
Income before interest & income taxes 19,860
Interest expense 359
Income before provision for income taxes 19,501
Provision for income taxes (99)
Net income $19,600 <PAGE>
EXHIBIT A
PAGE 20 OF 32
TECO COALBED METHANE
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Balance, beginning of period $ 7,760
Add
Net income 19,600
27,360
Deduct
Cash dividends on capital stock
Common 21,474
Balance, end of period $ 5,886 <PAGE>
EXHIBIT A
PAGE 21 OF 32
TECO INVESTMENTS
BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 71
Short-term investments 31,095
Receivables, less allowance for uncollectibles 9
31,175
Other assets
Other investments 65,843
$97,018 <PAGE>
EXHIBIT A
PAGE 22 OF 32
TECO INVESTMENTS
BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $23,207
Taxes accrued 356
23,563
Deferred income taxes 67,303
Common stock 5,169
Retained earnings 983
$97,018 <PAGE>
EXHIBIT A
PAGE 23 OF 32
TECO INVESTMENTS
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Revenues $2,323
Expenses
Operation 2,190
Income before provision for income taxes 133
Provision for income taxes (1,027)
Net income $1,160 <PAGE>
EXHIBIT A
PAGE 24 OF 32
TECO INVESTMENTS
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Balance, beginning of period ($ 177)
Add
Net income 1,160
983
Deduct
Cash dividends on capital stock
Common -
Balance, end of period $ 983 <PAGE>
EXHIBIT A
PAGE 25 OF 32
TECO FINANCE
BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 413
Receivables, less allowance for uncollectibles 278,597
Prepayments 1,734
280,744
Property, plant and equipment, at original cost
Other property 14
Less accumulated depreciation 13
1
$280,745 <PAGE>
EXHIBIT A
PAGE 26 OF 32
TECO FINANCE
BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 950
Notes payable 256,300
Accounts payable 33
Interest accrued 733
Taxes accrued (1,664)
256,352
Long-term debt, less amount due within one year 50,000
Common stock 100
Retained earnings (25,707)
$280,745 <PAGE>
EXHIBIT A
PAGE 27 OF 32
TECO FINANCE
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Revenues $ 1,533
Expenses
Operation 92
Depreciation 1
93
Income from operations 1,440
Other income 11
Income before interest & income taxes 1,451
Interest expense 14,792
Income before provision for income taxes (13,341)
Provision for income taxes (5,146)
Net loss ($ 8,195)<PAGE>
EXHIBIT A
PAGE 28 OF 32
TECO FINANCE
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
Balance, beginning of period ($17,512)
Add
Net income (8,195)
(25,707)
Deduct
Cash dividends on capital stock
Common -
Balance, end of period ($25,707)
<PAGE>
<TABLE>
EXHIBIT A
PAGE 29 OF 32
TECO POWER SERVICES, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
<CAPTION>
Hardee
TECO Power TPS Power Hardee TPS TECO Power
Services, Inc. Guatemala Partners, Power I, Power II, Operations Elimi- Services, Inc.
ASSETS (parent only) One, Inc. L.P. Inc. Inc. Inc. nations (Consolidated)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash equivalents $ 5,911 $ 1 $ 5,856 $ - $ - $1,104 $ - $ 12,872
Receivables from affiliates 1,240 - 991 316 747 294 (2,539) 1,049
Receivables, less
allowance for
uncollectibles 397 - 3,969 - - 60 - 4,426
Inventories at average
cost
Fuel - - 1,347 - - - - 1,347
Materials and supplies - - 1,907 - - - - 1,907
Prepayments - - 68 - - - - 68
7,548 1 14,138 316 747 1,458 (2,539) 21,669
Investment in subsidiaries 47,135 - - 12,549(1) 37,846(2) - ( 97,530) -
Property, plant & equipment,
at original cost
Plant in service - - 206,519 - - - - 206,519
Other property 295 - - - - - - 295
295 - 206,519 - - - - 206,814
Less accum. deprec. 209 - 12,320 - - - - 12,529
86 - 194,199 - - - - 194,285
Other assets
Deferred charges &
other assets 932 - 4,842 - - - - 5,774
$55,701 $ 1 $213,179 $12,865 $38,593 $1,458 $(100,069) $221,728
<FN>
1 Investment in subsidiaries represent Hardee Power I's general partnership interest in Hardee Power Partners. The
subsidiary is not consolidated at the Hardee Power I level. The financial statements of Hardee Power Partners are shown
in full on pages 29 through 32.
2 Investment in subsidiaries represent Hardee Power II's limited partnership interest in Hardee Power Partners. The
subsidiary is not consolidated at the Hardee Power II level. The financial statements of Hardee Power Partners are
shown in full on pages 29 through 32.
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 30 OF 32
TECO POWER SERVICES, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1994
(thousands of dollars)
<CAPTION>
Hardee
TECO Power TPS Power Hardee TPS TECO Power
Services, Inc. Guatemala Partners, Power I, Power II, Operations Elimi- Services, Inc.
LIABILITIES AND CAPITAL (parent only) One, Inc. L.P. Inc. Inc. Inc. nations (Consolidated)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Current Liabilities
Long-term debt due
within one year $ - $ - $ 4,356 $ - $ - $ - $ - $ 4,356
Notes payable - - 1,800 - - - - 1,800
Accounts payable to
affiliates 1,099 - 1,708 - - 1,061 (2,539) 1,329
Accounts payable 1,315 - 194 - - 402 - 1,911
Interest accrued - - 1,029 - - - - 1,029
Taxes accrued 18 - - (25) (76) (6) - (89)
2,432 - 9,087 (25) (76) 1,457 (2,539) 10,336
Deferred income taxes (291) - - 1,107 3,319 - - 4,135
Other deferred credits - - 513 - - - - 513
Long-term debt, less amount
due within one year - - 153,184 - - - - 153,184
Partners capital-HPI - - 10,972 - - - (10,972) -
Subordinated debt-HPI - - 1 - - - (1) -
Partners capital-HPII - - 32,916 - - - (32,916) -
Subordinated debt-HPII - - 3 - - - (3) -
Common stock 52,341 1 - 10,973 32,919 1 (43,894) 52,341
Retained earnings 1,219 - 6,503 810 2,431 - (9,744) 1,219
$55,701 $ 1 $213,179 $12,865 $38,593 $1,458 $(100,069) $221,728
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 31 OF 32
TECO POWER SERVICES, INC.
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
<CAPTION>
Hardee
TECO Power TPS Power Hardee Hardee TPS TECO Power
Services, Inc. Guatemala Partners, Power I, Power II, Operations Elimi- Services, Inc.
(parent only) One, Inc. L.P. Inc. Inc. Inc. nations (Consolidated)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Revenues $ - $ - $59,772 $2,601 $7,803 $ - $(10,404) $59,772
Expenses
Operation 1,672 - 3,192 - - - - 4,864
Maintenance - - 383 - - - - 383
Restructuring charge and
other cost control
reductions 297 - 43 - - - - 340
Fuel - - 6,642 - - - - 6,642
Depreciation 54 - 6,297 - - - - 6,351
BB4 - pass through - - 17,089 - - - - 17,089
Taxes-other than income 110 - 3,327 - - - - 3,437
2,133 - 36,973 - - - - 39,106
Income from operations (2,133) - 22,799 2,601 7,803 - (10,404) 20,666
Other income 65 - 288 - - - - 353
Income before interest and
income taxes (2,068) - 23,087 2,601 7,803 - (10,404) 21,019
Interest charges
Long-term debt - - 12,619 - - - - 12,619
Other interest expense - - 64 - - - - 64
Capitalized interest - - - - - - - -
- - 12,683 - - - - 12,683
Income before provision
for income taxes (2,068) - 10,404 2,601 7,803 - (10,404) 8,336
Provision for income taxes (813) - - 1,002 3,005 - - 3,194
Net income $(1,255) $ - $10,404 $1,599 $4,798 $ - $(10,404) $ 5,142
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 32 OF 32
TECO POWER SERVICES, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1994
(thousands of dollars)
<CAPTION>
Hardee
TECO Power TPS Power Hardee TPS TECO Power
Services, Inc. Guatemala Partners, Power I, Power II, Operations Elimi- Services, Inc.
(parent only) One, Inc. L.P. Inc. Inc. Inc. nations (Consolidated)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Balance, beginning of
period $ 993 $ - $ 2,930 $ 760 $2,282 $ - $ (5,972) $ 993
Add: Net income 5,142(1) - 10,404 1,599 4,798 - (16,801) 5,142
6,135 - 13,334 2,359 7,080 - (22,773) 6,135
Deduct dividends on capital
stock
Common 4,916 - 6,831 1,549 4,649 - (13,029) 4,916
Balance, end of period $ 1,219 $ - $ 6,503 $ 810 $2,431 $ - $( 9,744) $1,219
<FN>
1.Includes $6,397 of TECO Power Service's equity in earnings of subsidiaries.
</TABLE>
<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TECO ENERGY, INC. CONSOLIDATING BALANCE SHEET, CONSOLIDATING STATEMENT OF
INCOME AND CONSOLIDATING STATEMENT OF RETAINED EARNINGS AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000350563
<NAME> TECO Energy, Inc.
<MULTIPLIER> 1000
<S> <C>
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-1-1994
<PERIOD-END> DEC-31-1994
<PERIOD-TYPE> YEAR
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 3,312,162
<TOTAL-OPERATING-REVENUES> 1,350,853
<NET-INCOME> 153,177
</TABLE>
|
|