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Previous: KEMPER INTERNATIONAL FUND, 497, 1997-02-27 |
Next: REPUBLIC INDUSTRIES INC, 10-K, 1997-02-27 |
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
claimants directly or indirectly hold 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
t h e common stock of, or a partnership interest in, 46
subsidiaries, including Tampa Electric Company, a public utility
company for purposes of the Act. All of the subsidiaries are
organized under the laws of Florida with the exception of Electro-
Coal Transfer Corporation, which is a Louisiana corporation; TECO
Coal 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 those noted in the
following paragraph.
Claimant, TECO Power Services Corporation ("TECO Power"), is a
corporation organized on May 26, 1987 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 Power owns no
operating assets, but does own directly or indirectly the common
stock of, or a partnership interest in, 16 subsidiary companies.
Nine of the subsidiaries, including TPS Guatemala One, Inc., are
organized under the laws of Florida. Tampa Centro Americana De
Electricidad, Limitada (TCAE), an exempt wholesale generator
(EWG), of which TPS Guatemala One, Inc. owns a 98.15-percent
partnership interest, is organized under the laws of Guatemala.
TPS International Power, Inc., Tasajero I, LDC, TPS San Jose
International, Inc., TPS San Jose, LDC, and San Jose Power Holding
Company, Ltd. are all organized under the laws of the Cayman
Islands. TPS San Jose, LDC owns a 50 percent partnership interest
in San Jose Power Holding Company, Ltd. San Jose Power Holding
Company, Ltd. owns a 92 percent partnership interest in Central
Generadora Electrica San Jose, SRL which is organized under the
laws of Guatemala. TECO Power is a direct wholly owned subsidiary
of TECO Energy.
C l aimant, 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
2<PAGE>
owned subsidiary of TECO Power and has no subsidiaries or
partnership interests other than a partnership interest in Hardee
Power Partners.
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 other 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(1) 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
Power Engineering & Florida. Engaged in the
Construction, Inc. engineering and construction of
(PEC) transmission and distribution
TECO Plaza facilities outside of Tampa
702 N. Franklin Street Electric s service territory.
Tampa, FL 33602
TECO Investments, Inc.(1) 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
Bosek, Gibson and Associates, Florida and California.
Inc.(1) Energy services company
(BGA) performs engineering analysis,
TECO Plaza design and construction
702 N. Franklin Street management.
Tampa, FL 33602
TeCom Inc.(1) Florida. Markets advanced
(TeCom) energy management and
TECO Plaza communications systems.
702 North Franklin Street
Tampa, FL 33602
TECO Finance, Inc.(1) Florida. Provides financing
(TECO Finance) primarily for the diversified
TECO Plaza activities of TECO Energy.
702 North Franklin Street
Tampa, FL 33602
TECO Oil & Gas, Inc.(1) Texas and the Gulf of Mexico.
(TECO Oil & Gas formerly called Participates in the exploration
TECO Gas & Oil) and production of oil and gas
TECO Plaza in the Gulf of Mexico and
702 North Franklin Street Texas.
Tampa, FL 33602
TECO Diversified, Inc.(1) Florida. Holding company.
(TECO Diversified)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
TECO Coal Corporation Kentucky. Holding company.
(TECO Coal)
P. O. Box 39
Nevisdale, KY 40754
Clintwood Elkhorn Mining Kentucky. Coal mining.
Company
(Clintwood)
P. O. Box 39
Nevisdale, KY 40754
Gatliff Coal Company Kentucky and Tennessee. Coal
(Gatliff) mining and processing company.
P. O. Box 39
Nevisdale, KY 40754
4<PAGE>
Name and address Location and nature of business
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)
P. O. Box 39
Nevisdale, KY 40754
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.
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.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
5<PAGE>
Name and address Location and nature of business
Tampa Essex, Inc. Florida. General partner
(Tampa Essex) of Tampa Essex LTD, a limited
TECO Plaza partnership in a real estate
702 N. Franklin Street i n vestment. - Inactive.
Tampa, FL 33602
Tampa Essex Place Florida. Limited partnership
Associates, Ltd. in real estate investment.
(Tampa Essex LTD) - Inactive.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
UTC II, Inc. Florida. Real estate
(UTC II) investment.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
TECO Transport & Trade Florida. Holding company.
Corporation
(TECO Transport)
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
Electro-Coal Transfer Louisiana. Transfers and
Corporation stores coal and other bulk
(Electro-Coal) commodities.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
G C Service Company, Inc. Florida. Unloads coal from
(G C Service) ocean-going vessels and
TECO Plaza repairs vessels.
702 N. Franklin Street
Tampa, FL 33602
Gulfcoast Transit Company Florida. Transports coal and
(Gulfcoast) other bulk commodities in
TECO Plaza ocean-going vessels to various
702 N. Franklin Street domestic and international
Tampa, FL 33602 destinations.
6<PAGE>
Name and address Location and nature of business
Mid-South Towing Company Mississippi, Ohio and Illinois
(Mid-South) rivers. Transports coal
TECO Plaza and other bulk commodities
702 N. Franklin Street in river barges.
Tampa, FL 33602
TECO Towing Company Mississippi, Ohio and Illinois
(TECO Towing) rivers. Charters river barges
TECO Plaza and purchases fuel for
702 N. Franklin Street subsequent resale to affiliated
Tampa, FL 33602 companies.
TECO Power Services Corporation(1) Florida. Holding company.(2)
(TECO Power)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Hardee Power I, Inc. Florida. General partner
(Hardee Power I) of Hardee Power Partners. (2)
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
Hardee Power Partners, Ltd. Florida. Limited
(Hardee Power Partners) partnership which owns
TECO Plaza Hardee Power Station, a
702 North Franklin Street wholesale power generation
Tampa, FL 33602 project. (2)
TPS Panama One, Inc. Florida. Subsidiary formed for
(TPS Panama One) the purpose of developing a
TECO Plaza wholesale power generation
702 North Franklin Street project.
Tampa, FL 33602
TPS Guatemala One, Inc. Florida. Developer and joint
(TPS Guatemala One) venture partner in a whole-
TECO Plaza sale power generation
702 North Franklin Street project.(3)
Tampa, FL 33602
7<PAGE>
Name and address Location and nature of business
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
TPS Clean Coal, Inc. Florida. Subsidiary formed for
(TPS Clean Coal) the purpose of developing a
TECO Plaza wholesale power generation
702 North Franklin Street project.
Tampa, FL 33602
Lake County Power Resources, Florida. Subsidiary formed for
Inc. the purpose of developing a
(Lake County Power) wholesale power generation
TECO Plaza project.
702 North Franklin Street
Tampa, FL 33602
TECO EnergySource, Inc. Florida. Subsidiary formed for
(TECO EnergySource) the purpose of marketing and
TECO Plaza selling energy sales.
702 North Franklin Street
Tampa, FL 33602
TPS International Power, Inc. Cayman Islands. Subsidiary
(TPS International Power) formed for the purpose of
Ansbacher House, P.O. Box 500 developing wholesale power
George Town, Grand Cayman, generation projects.
Cayman Islands, B.W.I.
TPS San Jose International, Cayman Islands. Subsidiary
Inc. formed for the purpose of
(TPS San Jose International) developing wholesale power
Caledonian House, Mary Street generation projects.
P.O. Box 265
George Town, Grand Cayman
Cayman Islands, B.W.I.
TPS San Jose, LDC Cayman Islands. Developer and
(TPS San Jose) joint venture partner in a
Caledonian House, Mary wholesale power generation
Street project not yet in operation.(4)
P.O. Box 265
George Town, Grand Cayman
Cayman Islands, B.W.I
8<PAGE>
San Jose Power Holding Cayman Islands. Holding company
Company, Ltd. formed to develop a wholesale
(San Jose Power Holding p o wer generation project not
Company) yet in operation. (5)
Upland House, P.O. Box 309
George Town, Grand Cayman
Cayman Islands, B.W.I.
Central Generadora Guatemala. Limitada corporation
Electrica formed to develop a wholesale
San Jose, SRL (CGESJ) power generation project not
13 Calle 3-40, Zona 10 yet in operation. Construction
Edifico Atlantis, of this project is expected to
Oficina 503, 5 to. Nivel be completed in 1999.
Guatemala City,
Guatemala C.A.
Tasajero I, LDC Cayman Islands. Subsidiary
(Tasajero I) formed for the purpose of
Caledonian House, Mary Street developing a wholesale power
P.O. Box 265 generation project.
George Town, Grand Cayman
Cayman Islands, B.W.I.
(1) Direct subsidiary of TECO Energy, Inc.
(2) 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 Hardee Power II 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.
(3) TPS Guatemala One had a 98.15-percent ownership interest in
TCAE at Dec. 31, 1996.
(4) TPS San Jose had a 50-percent partnership interest in San Jose
Power Holding Company at Dec. 31, 1996.
(5) San Jose Power Holding Company had a 92-percent partnership
interest in CGESJ at Dec. 31, 1996.
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
c l a i m ants and their subsidiaries are organized and all
transmission or pipelines which deliver or receive electric energy
or gas at the borders of such State.
9<PAGE>
The only properties to which this question applies are the
following properties of Tampa Electric and Hardee Power Partners:
Tampa Electric
Tampa Electric had five electric generating plants and four
combustion turbine units in service with a total net generating
capability at Dec. 31, 1996 of 3,650 megawatts (MW) including Big
Bend (1,745-MW capability for four coal units), Gannon (1,205-MW
capability for six coal units), Hookers Point (212-MW capability
for five oil units), Phillips (34-MW capability for two diesel
units), Polk (250-MW capability from integrated gasification
combined cycle (IGCC) unit) 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 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. The Polk IGCC unit began
commercial operation in September 1996. 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 March 1994, Tampa Electric placed Dinner Lake on long-term
reserve standby.
T a m p a Electric owns 180 substations having an aggregate
transformer capacity of 16,235,857 KVA. The transmission system
consists of approximately 1,208 pole miles of high voltage
transmission lines, and the distribution system consists of 6,866
pole miles of overhead lines and 2,538 trench miles of underground
lines. As of Dec. 31, 1996, there were 513,117 meters in service.
All 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 is 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
10<PAGE>
Electric, TECO Energy and certain other TECO Energy subsidiaries.
Hardee Power Partners
Hardee Power Partners has one electric generating plant, the
Hardee Power Station, which went into commercial operation Jan.
1, 1993. The station is located in Hardee County, Florida, on
property under a long-term lease. The plant has a net generating
capability of 295 MWs consisting of one combined cycle unit
(220 MWs) and one combustion turbine (75 MWs). Capability as used
herein represents the demonstrable dependable load carrying
abilities of the unit during peak periods as proven under actual
operating conditions. 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) N u mber 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 - 18,170,311,000 KWH
TECO Power - None
Hardee Power I - None
Hardee Power Partners - 517,215,000 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
11<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 - 30,313,000 KWH
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
No distribution of natural or manufactured gas.
(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 - 235,000 KWH
TECO Power - None
Hardee Power I - None
Hardee Power Partners - 4,410,287 Mcf of natural gas
4. The following information for the reporting period with respect to
claimants and each interest held directly or indirectly in an EWG
or a foreign utility company, stating monetary amounts in United
States dollars.
(a) Name, location, business address and description of the
facilities used by the EWG or foreign utility company for the
generation, transmission and distribution of electric energy
for sale or for the distribution at retail of natural or
manufactured gas.
Facility name, address and location:
Alborada Power Station
Escuintla, Guatemala
approximately 35 miles southwest of Guatemala City,
Guatemala
Description:
A 78-MW facility consisting of two General Electric
L M 6000 turbines operated in simple cycle. Also
i n c l u des a 230KV switchyard with two 13.8KV
transformers and associated equipment.
12<PAGE>
(b) Name of each system company that holds an interest in such EWG
or foreign utility company; and the description of the
interest held.
At Dec. 31, 1996:
TECO Power had a 100-percent ownership interest in TPS
Guatemala One.
TPS Guatemala One had a 98.15-percent ownership interest
in TCAE.
TCAE had a 100-percent ownership interest in the Alborada
Power Station.
(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.
At Dec. 31, 1996:
TECO Power had advanced to TPS Guatemala One - $47,216,262
TPS Guatemala One had advanced to TCAE - $33,508,032
TPS Guatemala One had contributed equity to TCAE - $1,169,143.
There are no other guarantees or loans between system
companies and TPS Guatemala One or TCAE.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
Total capitalization of TCAE at Dec. 31, 1996 was $45,923,221.
Total earnings of TCAE for the year ended Dec. 31, 1996 were
$7,451,873. TPS Guatemala One s portion of the earnings of
TCAE for the year ended Dec. 31, 1996 was $7,171,408.
(e) Identify any service, sales 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).
None.
13<PAGE>
Attached hereto as Exhibit A are consolidating balance sheets and
statements of income and retained earnings for the twelve months ended
Dec. 31, 1996 of TECO Energy, TECO Power, and Hardee Power I, and
their subsidiaries.
Exhibit B, Financial Data Schedule, was included in the filing made
electronically with the Securities and Exchange Commission of this
document via EDGAR as Exhibit 27 (Ex-27).
Attached hereto as Exhibit C is an organizational chart showing the
relationship of TECO Energy, TECO Power, TPS Guatemala One and TCAE.
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 27th day of February, 1997.
(CORPORATE SEAL) TECO ENERGY, INC.
Attest: BY: /s/ W.L. Griffin
W.L. Griffin
Vice President-Controller
R. H. Kessel, Secretary
(CORPORATE SEAL) TECO POWER SERVICES CORPORATION
Attest: BY: /s/ L.A. Miller
L. A. Miller
Vice President-Controller
R. H. Kessel, Secretary
(CORPORATE SEAL) HARDEE POWER I, INC.
Attest: BY: /s/ L.A. Miller
L. A. Miller
Vice President
R. H. Kessel, Secretary
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
14<PAGE>
EXHIBIT A
PAGE 1 OF 40
<TABLE>
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
<CAPTION>
Tampa TECO TECO
Electric Diversified Energy - TECO Energy, Inc.
ASSETS Company Companies (1) Parent Only Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash equivalents $ 108 $ 9,593 $ 2,392 $ 85 $ - $ 12,178
Short-term investments - 6 - - - 6
Receivables, less
allowance for
uncollectibles 128,791 179,381 150,543 207,718 (476,340) 190,093
Inventories, at average
cost
Fuel 56,968 5,247 - - - 62,215
Materials and supplies 41,220 14,640 - - - 55,860
Prepayments 3,480 4,106 - 1,335 - 8,921
230,567 212,973 152,935 209,138 (476,340) 329,273
Investment in subsidiaries - - 1,561,749 - (1,561,749) -
Property, plant & equipment,
at original cost
Utility plant in service 3,536,573 248,094 - - - 3,784,667
Construction work in
progress 40,202 5,241 - - - 45,443
Other property 6,006 884,658 - - 846 891,510
3,582,781 1,137,993 - - 846 4,721,620
Less accum. depreciation 1,298,496 466,469 - - - 1,764,965
2,284,285 671,524 - - 846 2,956,655
Other assets
Other investments - 84,386 2,039 - - 86,425
Deferred income taxes 70,292 6,410 - - - 76,702
Deferred charges &
other assets 60,648 42,966 8,050 - - 111,664
130,940 133,762 10,089 - - 274,791
$ 2,645,792 $1,018,259 $1,724,773 $209,138 ($2,037,243) $3,560,719
1 Diversified companies comprise TECO Investments, TECO Diversified consolidated, TECO Oil & Gas, TeCom,
TECO Power consolidated and BGA.
</TABLE>
<PAGE>
EXHIBIT A
PAGE 2 OF 40
<TABLE>
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
<CAPTION>
Tampa TECO TECO
Electric Diversified Energy - TECO Energy, Inc.
LIABILITIES AND CAPITAL Company Companies (1) Parent Only Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current liabilities
Long-term debt due
within one year $ 1,045 $ 5,619 $ 50,000 $ 20,000 $ - $ 76,664
Notes payable 98,600 22,857 83,288 204,600 (103,601) 305,744
Accounts payable 117,323 93,376 312,887 129 (373,389) 150,326
Customer deposits 52,867 - - - - 52,867
Interest accrued 12,070 1,456 1,946 740 - 16,212
Taxes accrued 7,399 8,264 (4,949) (1,284) 328 9,758
289,304 131,572 443,172 224,185 (476,662) 611,571
Deferred income taxes 326,875 132,513 (32,664) - 426,724
Investment tax credit 53,837 2,423 - - - 56,260
Regulatory liability -
tax related 35,770 - - - - 35,770
Other deferred credits 131,765 17,596 2,750 - - 152,111
Long-term debt, less
amount due within one year 661,103 255,187 50,000 30,000 - 996,290
Preferred stock of
Tampa Electric 19,960 - - - - 19,960
Common stock 935,516 428,620 477,899 100 (1,364,236) 477,899
Retained earnings 191,662 50,348 854,357 (45,147) (196,345) 854,875
Unearned compensation
related to ESOP - - (70,741) - - (70,741)
$2,645,792 $1,018,259 $1,724,773 $209,138 ($2,037,243) $3,560,719
1 Diversified companies comprise TECO Investments, TECO Diversified consolidated, TECO Oil & Gas, TeCom,
TECO Power consolidated and BGA.
</TABLE>
<PAGE>
EXHIBIT A
PAGE 3 OF 40
<TABLE>
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
<CAPTION>
Tampa TECO TECO
Electric Diversified Energy - TECO Energy, Inc.
Company Companies (1) Parent Only Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Revenues $1,112,885 $562,479 $ - $ 1,002 $(203,363) $1,473,003
Expenses
Operation 596,257 355,606 4,462 99 (219,042) 737,382
Maintenance 65,520 26,642 - - - 92,162
Depreciation 120,152 65,013 - - 44 185,209
Taxes-other than income 86,966 28,368 - - - 115,334
Taxes-section 29 credits - (19,602) - - 19,602 -
868,895 456,027 4,462 99 (199,396) 1,130,087
Income from operations 243,990 106,452 (2) (4,462) 903 (3,967) 342,916
Other income (expense)
Allowance for other funds
used during construction 16,498 - - - - 16,498
Other income (expense), net (406) 301 9,491 - (7,994) 1,392
Preferred dividend req.
of Tampa Electric - - - - (1,767) (1,767)
16,092 301 9,491 - ( 9,761) 16,123
Income before interest &
income taxes 260,082 106,753 5,029 903 (13,728) 359,039
Interest charges
Interest expense 53,666 4,322 9,896 16,963 8,421 93,268
Allowance for borrowed
funds used during
construction (6,371) - - - - (6,371)
47,295 4,322 9,896 16,963 8,421 86,897
Income before provision
for income taxes 212,787 102,431 (4,867) (16,060) (22,149) 272,142
Provision for income taxes 71,171 27,614 ( 747) (6,195) (20,355) 71,488
Preferred dividend req.
of Tampa Electric 1,767 - - - (1,767) -
Net income $ 139,849 $ 74,817 $(4,120) $( 9,865) $ (27) $ 200,654
(1) Diversified companies comprise TECO Investments, TECO Diversified consolidated, TECO Oil & Gas,
TeCom, TECO Power consolidated and BGA.
(2) Operating income includes items which are reclassified for consolidated financial statement
purposes. The principal items are the non-conventional fuels tax credit related to coalbed methane
production and interest expense on the non-recourse debt related to the independent power
operations.
</TABLE>
<PAGE>
EXHIBIT A
PAGE 4 OF 40
<TABLE>
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
<CAPTION>
Tampa TECO TECO
Electric Diversified Energy - TECO Energy, Inc.
Company Companies (1) Parent Only Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning of
period $188,191 $ 49,625 $781,469 ($35,282) ($201,989) $782,014
Add
Net income 141,616 74,817 200,681(2) ( 9,865) (206,595) 200,654
Tax benefits - ESOP
dividends - - 2,158 - - 2,158
329,806 124,429 984,308 (45,147) (408,584) 984,826
Deduct
Cash dividends on
capital stock
Preferred 2,098 - - - (2,098) -
Common 134,985 74,094 129,451 - (209,079) 129,451
Other - Adjustment 1,062 - 500 - (1,062) 500
Balance, end of period $191,662 $ 50,348 $854,357 ($45,147) ($196,345) $854,875
1 Diversified companies comprise TECO Investments, TECO Diversified consolidated, TECO Oil & Gas, TeCom,
TECO Power consolidated and BGA.
2 Includes $204,802 of TECO Energy's equity in earnings of subsidiaries.
</TABLE>
<PAGE>
EXHIBIT A
PAGE 5 OF 40
TECO TRANSPORT & TRADE CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 215
Receivables, less allowance for uncollectibles 90,304
Inventories, at average cost
Materials and supplies 9,697
Prepayments 822
101,038
Property, plant and equipment, at original cost
Construction work in progress 3,630
Other property 440,031
443,661
Less accumulated depreciation 280,245
163,416
Other assets
Deferred income taxes 397
Deferred charges & other assets 1,092
1,489
$265,943 <PAGE>
EXHIBIT A
PAGE 6 OF 40
TECO TRANSPORT & TRADE CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 22,571
Interest accrued 481
Taxes accrued (889)
22,163
Deferred income taxes 22,995
Investment tax credit 2,423
Other deferred credits 11,274
Long-term debt, less amount due within one year 110,600
Common stock 52,133
Retained earnings 44,355
$265,943 <PAGE>
EXHIBIT A
PAGE 7 OF 40
TECO TRANSPORT & TRADE CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Revenues $207,528
Expenses
Operation 119,646
Maintenance 15,454
Depreciation 27,368
Taxes-other than income 6,179
168,647
Income from operations 38,881
Other income 201
Income before interest & income taxes 39,082
Interest expense 4,148
Income before provision for income taxes 34,934
Provision for income taxes 12,267
Net income $ 22,667 <PAGE>
EXHIBIT A
PAGE 8 OF 40
TECO TRANSPORT & TRADE CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Balance, beginning of period $44,809
Add
Net income 22,667
67,476
Deduct
Cash dividends on capital stock
Common 23,121
Balance, end of period $44,355 <PAGE>
EXHIBIT A
PAGE 9 OF 40
TECO COAL CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 1,013
Short-term investments 6
Receivables, less allowance for uncollectibles 30,882
Inventories, at average cost
Fuel 4,622
Materials and supplies 1,543
Prepayments 2,455
40,521
Property, plant and equipment, at original cost
Construction work in progress 1,611
Other property 195,429
197,040
Less accumulated depreciation 77,683
119,357
Other assets
Deferred income taxes 4,064
Deferred charges & other assets 17,977
22,041
$181,919 <PAGE>
EXHIBIT A
PAGE 10 OF 40
TECO COAL CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 24,209
Taxes accrued 3,101
27,310
Deferred income taxes 2,146
Other deferred credits 2,949
Common stock 131,677
Retained earnings 17,837
$181,919 <PAGE>
EXHIBIT A
PAGE 11 OF 40
TECO COAL CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Revenues $207,488
Expenses
Operation 151,488
Maintenance 10,450
Depreciation 11,404
Taxes-other than income 15,797
189,139
Income from operations 18,349
Other income 6
Income before interest & income taxes 18,355
Interest expense (5)
Income before provision for income taxes 18,360
Provision for income taxes 4,518
Net income $ 13,842 <PAGE>
EXHIBIT A
PAGE 12 OF 40
TECO COAL CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Balance, beginning of period $19,121
Add
Net income 13,842
32,963
Deduct
Cash dividends on capital stock
Common 15,126
Balance, end of period $17,837 <PAGE>
EXHIBIT A
PAGE 13 OF 40
TECO PROPERTIES CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 282
Receivables, less allowance for uncollectibles 11,643
Prepayments 18
11,943
Property, plant and equipment, at original cost
Other property 23,416
Less accumulated depreciation 2,338
21,078
Other assets
Other investments 17,525
Deferred income taxes 1,147
Deferred charges & other assets 421
19,093
$52,114 <PAGE>
EXHIBIT A
PAGE 14 OF 40
TECO PROPERTIES CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ 168
Accounts payable 125
Taxes accrued 58
351
Deferred income taxes 1,068
Common stock 49,985
Retained earnings 710
$52,114 <PAGE>
EXHIBIT A
PAGE 15 OF 40
TECO PROPERTIES CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Revenues $4,523
Expenses
Operation 1,126
Maintenance 156
Depreciation 536
Taxes-other than income 295
2,113
Income from operations 2,410
Other income (127)
Income before provision for income taxes 2,283
Provision for income taxes 897
Net income $1,386 <PAGE>
EXHIBIT A
PAGE 16 OF 40
TECO PROPERTIES CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Balance, beginning of period ($ 578)
Add
Net income 1,386
808
Deduct
Cash dividends on capital stock
Common 98
Balance, end of period $ 710 <PAGE>
EXHIBIT A
PAGE 17 OF 40
TECO COALBED METHANE, INC.
BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 149
Receivables, less allowance for uncollectibles 9,105
9,254
Property, plant and equipment, at original cost
Other property 207,057
Less accumulated depreciation 77,908
129,149
$138,403 <PAGE>
EXHIBIT A
PAGE 18 OF 40
TECO COALBED METHANE, INC.
BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 530
Notes payable 94,933
Accounts payable 1,636
Taxes accrued (496)
96,603
Deferred income taxes 30,065
Other deferred credits 1,044
Long-term debt, less amount due within one year 1,201
Retained earnings 9,490
$138,403 <PAGE>
EXHIBIT A
PAGE 19 OF 40
TECO COALBED METHANE, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Revenues $47,429
Expenses
Operation 17,163
Depreciation 15,425
Taxes-other than income 2,676
Taxes-section 29 credits (19,602)
15,662
Income before interest & income taxes 31,767
Interest expense 179
Income before provision for income taxes 31,588
Provision for income taxes 4,585
Net income $27,003 <PAGE>
EXHIBIT A
PAGE 20 OF 40
TECO COALBED METHANE, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Balance, beginning of period $ 7,405
Add
Net income 27,003
34,408
Deduct
Cash dividends on capital stock
Common 24,918
Balance, end of period $ 9,490 <PAGE>
EXHIBIT A
PAGE 21 OF 40
TECO INVESTMENTS, INC.
BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 64
Receivables, less allowance for uncollectibles 6,907
6,971
Other assets
Other investments 63,186
$70,157<PAGE>
EXHIBIT A
PAGE 22 OF 40
TECO INVESTMENTS, INC.
BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 139
Taxes accrued 442
581
Deferred income taxes 63,695
Common stock 5,169
Retained earnings 712
$70,157 <PAGE>
EXHIBIT A
PAGE 23 OF 40
TECO INVESTMENTS, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Revenues $1,774
Expenses
Operation 1,667
Income before provision for income taxes 107
Provision for income taxes (1,025)
Net income $1,132 <PAGE>
EXHIBIT A
PAGE 24 OF 40
TECO INVESTMENTS, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Balance, beginning of period $ 1,030
Add
Net income 1,132
2,162
Deduct
Cash dividends on capital stock
Common 1,450
Balance, end of period $ 712 <PAGE>
EXHIBIT A
PAGE 25 OF 40
TECO FINANCE, INC.
BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 85
Receivables, less allowance for uncollectibles 207,718
Prepayments 1,335
$209,138 <PAGE>
EXHIBIT A
PAGE 26 OF 40
TECO FINANCE, INC.
BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 20,000
Notes payable 204,600
Accounts payable 129
Interest accrued 740
Taxes accrued (1,284)
224,185
Long-term debt, less amount due within one year 30,000
Common stock 100
Retained earnings (45,147)
$209,138 <PAGE>
EXHIBIT A
PAGE 27 OF 40
TECO FINANCE, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Revenues $ 1,002
Expenses
Operation 99
Depreciation -
99
Income before interest & income taxes 903
Interest expense 16,963
Income before provision for income taxes (16,060)
Provision for income taxes (6,195)
Net income ($ 9,865)<PAGE>
EXHIBIT A
PAGE 28 OF 40
TECO FINANCE, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Balance, beginning of period ($35,282)
Add
Net income (9,865)
(45,147)
Deduct
Cash dividends on capital stock
Common -
Balance, end of period ($45,147)<PAGE>
EXHIBIT A
PAGE 29 OF 40
TECO OIL & GAS, INC.
BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ -
Receivables, less allowance for uncollectibles 2,535
2,535
Property, plant and equipment, at original cost
Other property 15,799
Less accum. Deprec. 1,013
14,786
Other assets
Other investments 3,675
$20,996<PAGE>
EXHIBIT A
PAGE 30 OF 40
TECO OIL & GAS, INC.
BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $20,145
Accounts payable 209
Taxes accrued (1,032)
19,322
Deferred income taxes 2,991
Common stock 1
Retained earnings (1,318)
$20,996 <PAGE>
EXHIBIT A
PAGE 31 OF 40
TECO OIL & GAS, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Revenues $4,743
Expenses
Operation 4,541
Depreciation 1,551
6,092
Income before provision for income taxes (1,349)
Provision for income taxes (468)
Net income ($ 881)<PAGE>
EXHIBIT A
PAGE 32 OF 40
TECO OIL & GAS, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
Balance, beginning of period $ (437)
Add
Net income (881)
(1,318)
Deduct
Cash dividends on capital stock
Common -
Balance, end of period ($1,318)<PAGE>
EXHIBIT A
PAGE 33 OF 40
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
<CAPTION>
TPS TPS TPS Hardee
TECO Power Intern l Panama Guatemala Power
ASSETS (parent only) Power One One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash
equivalents $ 143 $ 131 $ 1 $ 110 $ 3,676 $ 2,059
Receivables 52,224 431 - (2) 1,575 7,143
Inventories at average
cost
Fuel - - - - - 625
Materials and
supplies - - - - 643 2,482
Prepayments 15 - - 291 423 45
52,382 562 1 399 6,317 12,354
Investment in
subsidiaries 48,617 - - 50,171 - -
Property, plant &
equipment, at
original cost
Plant in service - - - - 41,472 206,621
Other property 989 - - - 288 -
989 - - - 41,760 206,621
Less accum. deprec. (330) - - - (1,994) (24,651)
659 - - - 39,766 181,970
Other assets
Deferred charges &
other assets 844 111 - 2,064 4,799 4,118
$102,502 $ 673 $ 1 $52,634 $ 50,882 $198,442
</TABLE>
<PAGE>
EXHIBIT A
PAGE 34 OF 40
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET (Continued)
DEC. 31, 1996
(thousands of dollars)
<CAPTION>
Hardee Hardee TPS Elimin- TECO Power
ASSETS Power I Power II Operation ations (Consolidated)
<S> <C> <C> <C> <C> <C>
Current assets
Cash and cash
equivalents $ - $ - $ 1,259 $ - $ 7,379
Receivables 3,499 10,296 237 (66,290) 9,113
Inventories at average
cost
Fuel - - - - 625
Materials and
supplies - - - - 3,125
Prepayments - - 1 - 775
3,499 10,296 1,497 ( 66,290) 21,017
Investment in
subsidiaries 10,877(1) 32,833 - (137,401) 5,097
Property, plant &
equipment, at
original cost
Plant in service - - - - 248,093
Other property - - - - 1,278
- - - - 249,371
Less accum. deprec. - - - - (26,976)
- - - - 222,395
Other assets
Deferred charges &
other assets - - - - 11,936
$ 14,376 $ 43,129 $ 1,497 $(203,691) $ 260,445
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 33 through 40.
</TABLE>
<PAGE>
EXHIBIT A
PAGE 35 OF 40
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
DEC. 31, 1996
(thousands of dollars)
<CAPTION>
TPS TPS TPS Hardee
LIABILITIES AND TECO Power Int l Panama Guatemala Power
CAPITAL (parent only) Power One One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Current Liabilities
Long-term debt due
within one year $ - $ - $ - $ - $ - $ 5,089
Notes payable - - - - - 2,540
Accounts payable 47,224 871 - 50,078 34,935 2,221
Interest accrued - - - - - 975
Taxes accrued 989 - - 990 3,039 -
48,213 871 - 51,068 37,974 10,825
Deferred income taxes (848) - - 6 169 -
Other deferred credits 3 - - - 956 520
Long-term debt, less
amount due within one
year - - - - - 143,386
Partners capital - HPI - - - - - 10,972
Subordinated debt - HPI - - - - - 1
Partners capital - HPII - - - - - 32,916
Subordinated debt - HPII - - - - - 3
Partners capital - TPS
Guatemala One - - - - 1,191 -
Minority Interests - - - - - -
Common stock 52,341 - 1 1 - -
Retained earnings 2,793 (198) - 1,559 10,592 (181)
$102,502 $ 673 $ 1 $ 52,634 $ 50,882 $198,442
</TABLE>
<PAGE>
EXHIBIT A
PAGE 36 OF 40
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET (Continued)
DEC. 31, 1996
(thousands of dollars)
<CAPTION>
TCAE
LIABILITIES AND Hardee Hardee TPS Minority Elimin- TECO Power
CAPITAL Power I Power II Operation Interest ations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current Liabilities
Long-term debt due
within one year $ - $ - $ - $ - $ - $ 5,089
Notes payable - - - - - 2,540
Accounts payable - - 1,556 (631) (99,798) 36,456
Interest accrued - - - - - 975
Taxes accrued 7 19 (60) - - 4,984
7 19 1,496 (631) (99,798) 50,044
Deferred income taxes 2,556 7,670 - - - 9,553
Other deferred credits - - - - - 1,479
Long-term debt, less
amount due within one
year - - - - - 143,386
Partners capital - HPI - - - - (10,972) -
Subordinated debt - HPI - - - - (1) -
Partners capital - HPII - - - - (32,916) -
Subordinated debt - HPII - - - - (3) -
Partners capital - TPS
Guatemala One - - - (22) (1,169) -
Minority Interests - - - 849 - 849
Common stock 10,973 32,919 1 - (43,895) 52,341
Retained earnings 840 2,521 - (196) (14,937) 2,793
$ 14,376 $ 43,129 $ 1,497 $ - $(203,691) $ 260,445
</TABLE>
<PAGE>
EXHIBIT A
PAGE 37 OF 40
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
<CAPTION>
TPS TPS TPS Hardee
TECO Power Intern l Panama Guatemala Power
(parent only) Power One One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Revenues $ - $ - $ - $ 7,171 $ 15,145 $ 72,925
Expenses
Operation 2,158 305 - 748 3,902 2,874
Maintenance - - - - - 582
Fuel - - - - - 16,660
Depreciation 80 - - 394 1,649 6,307
BB4 - pass through - - - - - 20,505
Taxes other than income - - - - 105 3,092
2,238 305 - 1,142 5,656 50,020
Income from operations (2,238) (305) - 6,029 9,489 22,905
Other income 78 - - - 169 103
Income before interest &
income taxes (2,160) (305) - 6,029 9,658 23,008
Interest charges
Long-term debt - - - - - 11,937
Other interest expense - - - - - 67
- - - - - 12,004
Income before provision
for income taxes (2,160) (305) - 6,029 9,658 11,004
Provision for income
taxes (729) (107) - 1,245 2,358 -
Net income $ (1,431) $(198) $ - $ 4,784 $ 7,300 $ 11,004
</TABLE>
<PAGE>
EXHIBIT A
PAGE 38 OF 40
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT (Continued)
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
<CAPTION>
Hardee Hardee TPS Elimin- TECO Power
Power I Power II Operation ations (Consolidated)
<S> <C> <C> <C> <C> <C>
Revenues $ 2,751 $ 8,253 $ - $ (18,176) $88,069
Expenses
Operation - - - - 9,987
Maintenance - - - - 582
Fuel - - - - 16,660
Depreciation - - - - 8,430
BB4 - pass through - - - - 20,505
Taxes other than income - - - - 3,197
- - - - 59,361
Income from operations 2,751 8,253 - (18,176) 28,708
Other income - - - (129) 221
Income before interest &
income taxes 2,751 8,253 - (18,305) 28,929
Interest charges
Long-term debt - - - - 11,937
Other interest expense - - - - 67
- - - - 12,004
Income before provision
for income taxes 2,751 8,253 - (18,305) 16,925
Provision for income
taxes 1,061 3,184 - - 7,012
Net income $ 1,690 $ 5,069 $ - $(18,305) $ 9,913
</TABLE>
<PAGE>
EXHIBIT A
PAGE 39 OF 40
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
<CAPTION>
TPS TPS TPS Hardee
TECO Power Intern l Panama Guatemala Power
(parent only) Power One One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning
of period $ 2,875 $ - $ - $ 1,561 $ 3,141 $ (45)
Add: Net income 9,913(1) (198) - 4,784 7,451 11,004
12,788 (198) - 6,345 10,592 10,959
Deduct:dividends on
Common stock 9,995 - - 4,786 - 11,140
Balance, end of
period $ 2,793 $(198) $ - $ 1,559 $ 10,592 $ (181)
1 Includes $11,344 of TECO Power Service s equity in earnings of subsidiaries.
</TABLE>
<PAGE>
EXHIBIT A
PAGE 40 OF 40
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS (Continued)
TWELVE MONTHS ENDED DEC. 31, 1996
(thousands of dollars)
<CAPTION>
TCAE
Hardee Hardee TPS Minority Elimin- TECO Power
Power I Power II Operation Interest ations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning
of period $ 816 $ 2,446 $ - $(393) $ (7,526) $ 2,875
Add: Net income 1,690 5,069 - 197 (29,997) 9,913
2,506 7,515 - (196) (37,523) 12,788
Deduct:dividends on
capital stock
Common 1,666 4,994 - - (22,586) 9,995
Balance, end of
period $ 840 $ 2,521 $ - $(196) $ (14,937) $ 2,793
</TABLE>
<PAGE>
EXHIBIT B
PAGE 1 OF 1
FINANCIAL DATA SCHEDULE
A financial data schedule was filed as Exhibit 27 (EX-27) part of
the electronic filing of this document made with the Securities
and Exchange Commission via EDGAR.<PAGE>
EXHIBIT C
PAGE 1 OF 1
ABBREVIATED ORGANIZATIONAL CHART
SHOWING THE RELATIONSHIP BETWEEN EACH EWG
OR FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES
IN THE HOLDING-COMPANY SYSTEM
TECO Energy
TECO Power
TPS Guatemala One
TCAE
At Dec. 31, 1996:
TECO Energy had a 100-percent ownership
interest in TECO Power.
TECO Power had a 100-percent ownership
interest in TPS Guatemala One.
TPS Guatemala One had a 98.15-percent
ownership interest in TCAE.<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-31-1996
<PERIOD-START> JAN-1-1996
<PERIOD-END> DEC-31-1996
<PERIOD-TYPE> YEAR
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 3,560,719
<TOTAL-OPERATING-REVENUES> 1,473,003
<NET-INCOME> 200,654
</TABLE>
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