|
|
|
|
|
|
|
|
|
|
|
|
|
Form U-13-60
Mutual and Subsidiary Service Companies
Revised February 7, 1980
ANNUAL REPORT
FOR THE PERIOD
Beginning January 1, 1994 and Ending December 31, 1994
TO THE
U.S. SECURITIES AND EXCHANGE COMMISSION
OF
GPU SERVICE CORPORATION
(Exact Name of Reporting Company)
A Subsidiary Service Company
("Mutual" or "Subsidiary")
Date of Incorporation April 30, 1970
If not Incorporated, Date of Organization
State or Sovereign Power under which Incorporated or Organized Pennsylvania
Location of Principal Executive Offices of Reporting Company:
100 Interpace Parkway, Parsippany, NJ 07054
Name, title, and address of officer to whom correspondence concerning this
report should be addressed:
100 Interpace Parkway
P. R. Chatman Assistant Comptroller Parsippany, NJ 07054
(Name) (Title) (Address)
Name of Principal Holding Company Whose Subsidiaries are served by Reporting
Company:
GENERAL PUBLIC UTILITIES CORPORATION
<PAGE>
1
INSTRUCTIONS FOR USE OF FORM U-13-60
1. Time of Filing.--Rule 94 provides that on or before the first day
of May in each calendar year, each mutual service company and each subsidiary
service company as to which the Commission shall have made a favorable finding
pursuant to Rule 88, and every service company whose application for approval
or declaration pursuant to Rule 88 is pending shall file with the Commission
an annual report on Form U-13-60 and in accordance with the Instructions for
that form.
2. Number of Copies.--Each annual report shall be filed in duplicate.
The company should prepare and retain at least one extra copy for itself in
case correspondence with reference to the report become necessary.
3. Period Covered by Report.--The first report filed by any company
shall cover the period from the date the Uniform System of Accounts was
required to be made effective as to that company under Rules 82 and 93 to the
end of that calendar year. Subsequent reports should cover a calendar year.
4. Report Format.--Reports shall be submitted on the forms prepared by
the Commission. If the space provided on any sheet of such form is
inadequate, additional sheets may be inserted of the same size as a sheet of
the form or folded to such size.
5. Money Amounts Displayed.--All money amounts required to be shown in
financial statements may be expressed in whole dollars, in thousands of
dollars or in hundred thousands of dollars, as appropriate and subject to
provisions of Regulation S-X (S210.3-01(b)).
6. Deficits Displayed.--Deficits and other like entries shall be
indicated by the use of either brackets or a parenthesis with corresponding
reference in footnotes. (Regulation S-X, S210.3-01(c))
7. Major Amendments or Corrections.--Any company desiring to amend or
correct a major omission or error in a report after it has been filed with the
Commission shall submit an amended report including only those pages,
schedules, and entries that are to be amended or corrected. A cover letter
shall be submitted requesting the Commission to incorporate the amended report
changes and shall be signed by a duly authorized officer of the company.
8. Definitions.--Definitions contained in Instruction 01-8 to the
Uniform System of Accounts for Mutual Service Companies and Subsidiary Service
Companies, Public Utility Holding Company Act of 1935, as amended February 2,
1979 shall be applicable to words or terms used specifically within this Form
U-13-60.
9. Organization Chart.--The service company shall submit with each
annual report a copy of its current organization chart.
10. Methods of Allocation.--The service company shall submit with each
annual report a listing of the currently effective methods of allocation being
used by the service company and on file with the Securities and Exchange
Commission pursuant to the Public Utility Holding Company Act of 1935.
11. Annual Statement of Compensation for Use of Capital Billed.--The
service company shall submit with each annual report a copy of the annual
statement supplied to each associate company in support of the amount of
compensation for use of capital billed during the calendar year.
<PAGE>
2
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS Page
Number
Description of Schedules and Accounts Schedule or Account
Number
COMPARATIVE BALANCE SHEET Schedule I 4-5
SERVICE COMPANY PROPERTY Schedule II 6-7
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY PROPERTY Schedule III 8
INVESTMENTS Schedule IV 9
ACCOUNTS RECEIVABLE FROM ASSOCIATE
COMPANIES Schedule V 10
FUEL STOCK EXPENSES UNDISTRIBUTED Schedule VI 11
STORES EXPENSE UNDISTRIBUTED Schedule VII 12
MISCELLANEOUS CURRENT AND ACCRUED ASSETS Schedule VIII 13
MISCELLANEOUS DEFERRED DEBITS Schedule IX 14
RESEARCH, DEVELOPMENT, OR DEMONSTRATION
EXPENDITURES Schedule X 15
PROPRIETARY CAPITAL Schedule XI 16
LONG-TERM DEBT Schedule XII 17
CURRENT AND ACCRUED LIABILITIES Schedule XIII 18
NOTES TO FINANCIAL STATEMENTS Schedule XIV 19
COMPARATIVE INCOME STATEMENT Schedule XV 20
ANALYSIS OF BILLING - ASSOCIATE COMPANIES Account 457 21
ANALYSIS OF BILLING - NONASSOCIATE COMPANIES Account 458 22
ANALYSIS OF CHARGES FOR SERVICE - ASSOCIATE
AND NONASSOCIATE COMPANIES Schedule XVI 23
SCHEDULE OF EXPENSE BY DEPARTMENT OR
SERVICE FUNCTION Schedule XVII 24-25A
DEPARTMENTAL ANALYSIS OF SALARIES Account 920 26
OUTSIDE SERVICES EMPLOYED Account 923 27
EMPLOYEE PENSIONS AND BENEFITS Account 926 28
GENERAL ADVERTISING EXPENSES Account 930.1 29
MISCELLANEOUS GENERAL EXPENSES Account 930.2 30
RENTS Account 931 31
TAXES OTHER THAN INCOME TAXES Account 408 32
DONATIONS Account 426.1 33
OTHER DEDUCTIONS Account 426.5 34
NOTES TO STATEMENT OF INCOME Schedule XVIII 35
<PAGE>
3
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS Page
Number
Description of Reports or Statements
ORGANIZATION CHART 36
METHODS OF ALLOCATION 37
ANNUAL STATEMENT OF COMPENSATION FOR USE 38
OF CAPITAL BILLED
VENTURE DISCLOSURES 39
FINANCIAL DATA SCHEDULE - FILED VIA EDGAR
NOTE: Dollar figures in this report are shown in thousands unless
otherwise noted.
<PAGE>
4
ANNUAL REPORT OF GPU SERVICE CORPORATION
SCHEDULE I - COMPARATIVE BALANCE SHEET
Give balance sheet of the Company as of December 31 of the current and prior
year.
ACCOUNT ASSETS AND OTHER DEBITS As of December 31
CURRENT PRIOR
SERVICE COMPANY PROPERTY
101 Service Company property (Schedule II) $79,711 $78,079
107 Construction work in progress (Schedule II) - -
Total Property 79,711 78,079
108 Less accumulated provision for depreciation
and amortization of service company
property (Schedule III) 21,019 18,227
Net Service Company Property 58,692 59,852
INVESTMENTS
123 Investments in associate companies (Schedule IV) - -
124 Other investments (Schedule IV) 8,157 6,813
Total Investments 8,157 6,813
CURRENT AND ACCRUED ASSETS
131 Cash 46 76
134 Special deposits 85 85
135 Working funds - -
136 Temporary cash investments (Schedule IV) - -
141 Notes receivable - -
143 Accounts receivable 123 47
144 Accumulated provision for uncollectible accounts - -
146 Accounts receivable from associate
companies (Schedule V) 9,182 3,845
152 Fuel stock expenses undistributed (Schedule VI) - -
154 Materials and supplies - -
163 Stores expense undistributed (Schedule VII) - -
165 Prepayments 596 1,548
171 Interest Receivable - 258
174 Miscellaneous current and accrued
assets (Schedule VIII) - -
Total Current and Accrued Assets 10,032 5,859
DEFERRED DEBITS
181 Unamortized debt expense 54 62
184 Clearing accounts - -
186 Miscellaneous deferred debits (Schedule IX) 1,728 1,170
188 Research, development, or demonstration
expenditures (Schedule X) - -
190 Accumulated deferred income taxes 14,637 11,813
Total Deferred Debits 16,419 13,045
TOTAL ASSETS AND OTHER DEBITS $93,300 $85,569
<PAGE>
5
ANNUAL REPORT OF GPU SERVICE CORPORATION
SCHEDULE I - COMPARATIVE BALANCE SHEET
ACCOUNT LIABILITIES AND PROPRIETARY CAPITAL As of December 31
CURRENT PRIOR
PROPRIETARY CAPITAL
201 Common stock issued (Schedule XI) $ 50 $ 50
211 Miscellaneous paid-in-capital (Schedule XI) - -
215 Appropriated retained earnings (Schedule XI) ( 700) (2,250)
216 Unappropriated retained earnings (Schedule XI) - -
Total Proprietary Capital ( 650) (2,200)
LONG-TERM DEBT
223 Advances from associate companies (Schedule XII) - -
224 Other long-term debt (Schedule XII) 37,606 42,152
225 Unamortized premium on long-term debt - -
226 Unamortized discount on long-term debt-debit - -
Total Long-term Debt 37,606 42,152
CURRENT AND ACCRUED LIABILITIES
231 Notes payable - -
232 Accounts payable 5,535 6,673
233 Notes payable to associate
companies (Schedule XIII) - -
234 Accounts payable to associate
companies (Schedule XIII) 754 333
236 Taxes accrued 2,074 (101)
237 Interest accrued 690 833
238 Dividends declared - -
241 Tax collections payable 661 584
242 Miscellaneous current and accrued
liabilities (Schedule XIII) 20,601 20,127
Total Current and Accrued Liabilities 30,315 28,449
DEFERRED CREDITS
253 Other deferred credits 18,434 10,111
255 Accumulated deferred investment tax credits - -
Total Deferred Credits 18,434 10,111
282 ACCUMULATED DEFERRED INCOME TAXES 7,595 7,057
TOTAL LIABILITIES AND PROPRIETARY
CAPITAL $93,300 $85,569
<PAGE>
<TABLE>
6
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE II - SERVICE COMPANY PROPERTY
<CAPTION>
BALANCE AT RETIREMENTS OTHER BALANCE AT
BEGINNING ADDITIONS OR CHANGES 1/ CLOSE OF
DESCRIPTION OF YEAR SALES YEAR
SERVICE COMPANY PROPERTY
Account
<S> <C> <C> <C> <C> <C>
301 ORGANIZATION $ 49 $ - $ - $ - $ 49
303 MISCELLANEOUS
INTANGIBLE PLANT
304 LAND AND LAND RIGHT 2,824 - - - 2,824
305 STRUCTURES AND
IMPROVEMENTS 49,544 492 - - 50,036
306 LEASEHOLD
IMPROVEMENTS - - - - -
307 EQUIPMENT 2/ 19,215 5,810 4,847 - 20,178
308 OFFICE FURNITURE
AND EQUIPMENT 4,674 176 - - 4,850
309 AUTOMOBILES, OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT
310 AIRCRAFT AND
AIRPORT EQUIPMENT
311 OTHER SERVICE
COMPANY PROPERTY 3/ 1,773 1 - - 1,774
SUB-TOTAL 78,079 6,479 4,847 - 79,711
107 CONSTRUCTION WORK
IN PROGRESS 4/ - - - - -
TOTAL $78,079 $ 6,479 $ 4,847 $ - $79,711
<FN>
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
N/A
</FN>
</TABLE>
<PAGE>
7
SCHEDULE II - CONTINUED
2/ SUBACCOUNTS ARE REQUIRED FOR EACH CLASS OF EQUIPMENT OWNED. THE SERVICE
COMPANY SHALL PROVIDE A LISTING BY SUBACCOUNT OF EQUIPMENT ADDITIONS DURING
THE YEAR AND THE BALANCE AT THE CLOSE OF THE YEAR:
BALANCE AT
SUBACCOUNT DESCRIPTION ADDITIONS CLOSE OF
YEAR
COMMUNICATIONS EQUIPMENT (MICROWAVE & TELEPHONE) $ 481 $ 2,211
DATA PROCESSING EQUIPMENT 3,220 14,694
DISPATCHING EQUIPMENT 85 167
LOAD RESEARCH EQUIPMENT - 119
MISCELLANEOUS EQUIPMENT 15 331
PERSONAL COMPUTER 2,009 2,656
TOTAL $ 5,810 $20,178
3/ DESCRIBE OTHER SERVICE COMPANY PROPERTY:
Photographic, Cafeteria Furniture & Equipment, Mailing Equipment
4/ DESCRIBE CONSTRUCTION WORK IN PROGRESS:
N/A
<PAGE>
<TABLE>
8
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE III
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY PROPERTY
<CAPTION>
BALANCE AT ADDITIONS BALANCE AT
BEGINNING CHARGED OTHER CHANGES CLOSE OF
DESCRIPTION OF YEAR TO RETIREMENTS ADD (DEDUCT)1/ YEAR
ACCOUNT 403
Account
<S> <C> <C> <C> <C> <C>
301 ORGANIZATION
303 MISCELLANEOUS
INTANGIBLE PLANT
304 LAND AND LAND RIGHTS
305 STRUCTURES AND
IMPROVEMENTS $12,331 $1,167 $ - $ - $13,498
306 LEASEHOLD
IMPROVEMENTS - - - - -
307 EQUIPMENT 3,478 1,214 - - 4,692
308 OFFICE FURNITURE
AND FIXTURES 1,899 323 - - 2,222
309 AUTOMOBILES, OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT
310 AIRCRAFT AND
AIRPORT EQUIPMENT
311 OTHER SERVICE
COMPANY PROPERTY 519 88 - - 607
$18,227 $2,792 $ - $ - $21,019
<FN>
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
N/A
</FN>
</TABLE>
<PAGE>
9
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE IV - INVESTMENTS
INSTRUCTIONS: Complete the following schedule concerning investments.
Under Account 124, "Other Investments", state each investment
separately, with description, including, the name of issuing
company, number of shares or principal amount, etc.
Under Account 136, "Temporary Cash Investments", list each
investment separately.
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE OF
OF YEAR YEAR
ACCOUNT 123 - INVESTMENT IN ASSOCIATE COMPANIES
NONE
ACCOUNT 124 - OTHER INVESTMENTS
COMPANY OWNED LIFE INSURANCE -
CASH SURRENDER VALUE $6,813 $8,157
ACCOUNT 136 - TEMPORARY CASH INVESTMENTS
NONE
TOTAL $6,813 $8,157
<PAGE>
10
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable
from each associate company. Where the service company has
provided accommodation or convenience payments for associate
companies, a separate listing of total payments for each
associate company by subaccount should be provided.
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE OF
OF YEAR YEAR
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM ASSOCIATE
COMPANIES
ENERGY INITIATIVES, INC. $ 157 $ 142
GENERAL PUBLIC UTILITIES CORPORATION - -
GPU NUCLEAR CORPORATION 247 834
JERSEY CENTRAL POWER & LIGHT COMPANY 1,580 4,587
METROPOLITAN EDISON COMPANY 817 1,049
PENNSYLVANIA ELECTRIC COMPANY 1,044 2,570
TOTAL $ 3,845 $ 9,182
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS: TOTAL
PAYMENTS
INTERCHANGE TRANSACTIONS
JERSEY CENTRAL POWER & LIGHT COMPANY $73,495
METROPOLITAN EDISON COMPANY 73,139
PENNSYLVANIA ELECTRIC COMPANY 16,355
TOTAL PAYMENTS $162,989
<PAGE>
11
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE VI - FUEL STOCK EXPENSES UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with respect
to fuel stock expenses during the year and indicate amount
attributable to each associate company. Under the section
headed "Summary" listed below give an overall report of the
fuel functions performed by the service company.
D E S C R I P T I O N LABOR EXPENSES TOTAL
ACCOUNT 152 - FUEL STOCK EXPENSES UNDISTRIBUTED
NONE
TOTAL - - -
SUMMARY:
<PAGE>
12
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE VII - STORES EXPENSE UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with respect
to stores expense during the year and indicate amount
attributable to each associate company.
D E S C R I P T I O N LABOR EXPENSES TOTAL
ACCOUNT 163 - STORES EXPENSE UNDISTRIBUTED $6,433 $1,006 $7,439
BILLED TO:
JERSEY CENTRAL POWER & LIGHT COMPANY (2,117) (291) (2,408)
METROPOLITAN EDISON COMPANY (1,656) (250) (1,906)
PENNSYLVANIA ELECTRIC COMPANY (2,660) (465) (3,125)
NOTE: Stores expenses are billed back to the associated companies in
the month incurred.
-
TOTAL $ - $ - $ -
<PAGE>
13
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE VIII
MISCELLANEOUS CURRENT AND ACCRUED ASSETS
INSTRUCTIONS: Provide detail of items in this account. Items less than
$10,000 may be grouped, showing the number of items in each
group.
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE OF
OF YEAR YEAR
ACCOUNT 174 - MISCELLANEOUS CURRENT AND ACCRUED
ASSETS
NONE
TOTAL - -
<PAGE>
14
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE IX - MISCELLANEOUS DEFERRED DEBITS
INSTRUCTIONS: Provide detail of items in this account. Items less than
$10,000 may be grouped by class showing the number of items in
each class.
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE OF
OF YEAR YEAR
ACCOUNT 186 - MISCELLANEOUS DEFERRED DEBITS
Air Shuttle $ 40 $ 44
Employee Stock Plan 896 987
GPU/DQE Transmission Project 9 -
Procurement Cards - 9
Unclassified Charges by Associates 225 679
Fringe Benefits - 106
Misc. Billing Adjustments - ( 97)
TOTAL $1,170 $1,728
<PAGE>
15
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE X
RESEARCH, DEVELOPMENT OR DEMONSTRATION EXPENDITURES
INSTRUCTIONS: Provide a description of each material research, development,
or demonstration project which incurred costs by the service
corporation during the year.
D E S C R I P T I O N AMOUNT
ACCOUNT 188 - RESEARCH, DEVELOPMENT, OR DEMONSTRATION
EXPENDITURES
SYSTEM RESEARCH AND DEVELOPMENT $ 66
BILLED TO:
JERSEY CENTRAL POWER & LIGHT COMPANY (34)
PENNSYLVANIA ELECTRIC COMPANY (15)
METROPOLITAN EDISON COMPANY (17)
NOTE: Research and development expenses
are billed back to the associate
companies in the month incurred.
TOTAL $ -
<PAGE>
<TABLE>
16
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XI - PROPRIETARY CAPITAL
<CAPTION>
NUMBER OF PAR OR STATED
ACCOUNT NUMBER CLASS OF STOCK SHARES VALUE OUTSTANDING CLOSE OF PERIOD
AUTHORIZED PER SHARE NO. OF SHARES TOTAL AMOUNT
<S> <C> <C> <C> <C> <C>
201 COMMON STOCK ISSUED 5,000 $10 * 5,000 $50,000*
INSTRUCTIONS: Classify amounts in each account with brief explanation, disclosing the general nature of
transactions which gave rise to the reported amounts.
<CAPTION>
D E S C R I P T I O N AMOUNT
<S> <C>
ACCOUNT 211 - MISCELLANEOUS PAID-IN CAPITAL NONE
ACCOUNT 215 - APPROPRIATED RETAINED EARNINGS $( 700)
GPUSC Excess Pension Plan Minimum Liability Recognition
TOTAL $( 700)
INSTRUCTIONS: Give particulars concerning net income or (loss) during the year, distinguishing between
compensation for the use of capital owed or net loss remaining from servicing nonassociates per
the General Instructions of the Uniform System of Accounts. For dividends paid during the year
in cash or otherwise, provide rate percentage, amount of dividend, date declared and date paid.
<CAPTION>
BALANCE AT NET INCOME BALANCE AT
D E S C R I P T I O N BEGINNING OR DIVIDENDS CLOSE OF
OF YEAR (LOSS) PAID YEAR
<S> <C> <C> <C> <C>
ACCOUNT 216 - UNAPPROPRIATED RETAINED EARNINGS
NONE
TOTAL $ - $ - $ - $ -
* In whole dollars.</TABLE>
<PAGE>
<TABLE>
17
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XII- LONG-TERM DEBT
INSTRUCTIONS: Advances from associate companies should be reported separately for advances on notes, and advances on open
account. Names of associate companies from which advances were received shall be shown under the class and
series of obligation column. For Account 224 - Other long term debt provide the name of creditor company or
organization, terms of the obligation, date of maturity, interest rate, and the amount authorized and
outstanding.
<CAPTION>
TERMS OF OBLIG DATE BALANCE AT BALANCE AT
NAME OF CREDITOR CLASS & SERIES OF INTEREST AMOUNT BEGINNING 1/ CLOSE
OF OBLIGATION MATURITY RATE AUTHORIZED OF YEAR ADDITIONS DEDUCTIONS OF YEAR
<S> <C> <C> <C> <C> <C> <C> <C>
ACCOUNT 223 - ADVANCES FROM ASSOCIATE
COMPANIES:
NONE
ACCOUNT 224 - OTHER LONG-TERM DEBT:
Aetna Insurance 4/1/01 10.87 $ 25,600 $ 3,200 $22,400*
Bank of New York 9/30/98 Variable 11,500 11,500
Obligations under Capital Leases Various Various 5,052 $ 21 1,367 3,706
Total $ 42,152 $ 21 $ 4,567 $37,606
<FN>
1/ GIVE AN EXPLANATION OF DEDUCTIONS: Payments Per Agreements
</FN>
* Includes $3,200 due within one year.
</TABLE>
<PAGE>
18
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES
INSTRUCTIONS: Provide balance of notes and accounts payable to each
associate company. Give description and amount of
miscellaneous current and accrued liabilities. Items less
than $10,000 may be grouped, showing the number of items in
each group.
BALANCE AT BALANCE AT
D E S C R I P T I O N BEGINNING CLOSE OF
OF YEAR YEAR
ACCOUNT 233 - NOTES PAYABLE TO ASSOCIATE COMPANIES
NONE
TOTAL - -
ACCOUNT 234 - ACCOUNTS PAYABLE TO ASSOCIATE
COMPANIES
GENERAL PUBLIC UTILITIES CORPORATION $ 333 $ 754
TOTAL $ 333 $ 754
ACCOUNT 242 - MISCELLANEOUS CURRENT AND ACCRUED
LIABILITIES
ACCRUALS
- DENTAL 120 120
- CAFETERIA SUPPLEMENT 25 18
- INTERCHANGE POWER (11) (11)
- INCENTIVE COMPENSATION 1,280 (297)
- HOSPITALIZATION 1,053 3,535
- LEGAL 168 237
- OFFICERS' DEFERRED COMPENSATION 3,575 4,193
- PENSION COSTS 3,056 2,893
- SEVERANCE PAY - 363
- VACATION 6,236 6,208
- OBLIGATIONS UNDER CAPITAL LEASES 4,625 3,342
(Short-Term Portion)
TOTAL $20,127 $20,601
<PAGE>
19
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any account thereof. Furnish
particulars as to any significant contingent assets or
liabilities existing at the end of the year. Notes relating to
financial statements shown elsewhere in this report may be
indicated here by reference.
Capital lease balances are incorporated in the following accounts:
December 31
1994 1993
PROPERTY UNDER CAPITAL LEASES:
101 Service Company Property
- 307 Equipment $ 7,048 $ 9,677
OBLIGATIONS UNDER CAPITAL LEASES:
224 Other Long-Term Debt $ 3,706 $ 5,052
242 Miscellaneous Current
and Accrued Liabilities 3,342 4,625
$ 7,048 $ 9,677
<PAGE>
20
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XV
STATEMENT OF INCOME
ACCOUNT D E S C R I P T I O N CURRENT YEAR PRIOR YEAR
INCOME
457 Services rendered to associate companies $137,712 $118,639
458 Services rendered to nonassociate
companies 185 198
421 Miscellaneous income or loss 11 8
Total Income 137,908 118,845
EXPENSE
920 Salaries and wages 62,589 57,785
921 Office supplies and expenses 8,944 9,341
922 Administrative expense transferred -
credit - -
923 Outside services employed 6,226 6,604
924 Property insurance 96 23
925 Injuries and damages 99 100
926 Employee pensions and benefits 27,229 13,362
928 Regulatory commission expense - -
930.1 General advertising expenses - 2
930.2 Miscellaneous general expenses 3,321 1,853
931 Rents 12,742 14,122
932 Maintenance of structures and equipment 3,783 4,256
403 Depreciation and amortization expense 2,789 2,844
408 Taxes other than income taxes 6,310 6,246
409 Income taxes 1,953 1,645
410 Provision for deferred income taxes 8,692 2,534
411 Provision for deferred income taxes -
credit (10,003) (5,583)
411.5 Investment tax credit - -
426.1 Donations 89 93
426.5 Other deductions (510) (311)
427 Interest on long-term debt 3,073 3,295
430 Interest on debt to associate
companies - -
431 Other interest expense 486 634
Total Expense 137,908 118,845
Net Income or (Loss) $ - $ -
<PAGE>
21
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
ANALYSIS OF BILLING
ASSOCIATE COMPANIES
ACCOUNT 457
DIRECT INDIRECT COMPENSATION TOTAL
COSTS COSTS FOR USE AMOUNT
NAME OF ASSOCIATE COMPANY CHARGED CHARGED OF CAPITAL BILLED
457-1 457-2 457-3
GENERAL PUBLIC UTILITIES
CORPORATION $ 862 $ 233 $ - $ 1,095
JERSEY CENTRAL POWER
& LIGHT COMPANY 38,404 9,538 - 47,942
PENNSYLVANIA ELECTRIC
COMPANY 31,793 8,215 - 40,008
METROPOLITAN EDISON
COMPANY 21,042 5,391 - 26,433
GPU NUCLEAR CORPORATION 16,653 5,394 - 22,047
ENERGY INITIATIVES, INC. 157 30 - 187
TOTAL $108,911 $28,801 $ - $137,712
<PAGE>
<TABLE>
22
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
ANALYSIS OF BILLING
NONASSOCIATE COMPANIES
ACCOUNT 458
<CAPTION>
DIRECT INDIRECT COMPENSATION EXCESS
COSTS COSTS FOR USE TOTAL OR TOTAL
NAME OF NONASSOCIATE COMPANY CHARGED CHARGED OF CAPITAL COST DEFICIENCY AMOUNT
458-1 458-2 458-3 458-4 BILLED
<S> <C> <C> <C> <C> <C> <C>
* Citizen's Lehman Power (A) $ 2 $ 2
* Energy Management Associates (B) 8 8
New York State Electric & Gas (C) $ 4 $ 4 4
PJM Interconnection Office (D) 6 6 6
Philadelphia Electric Company (D) 6 6 6
Utilities Employees Credit Union (D) 74 $ 85 159 159
TOTAL $ 90 $ 85 $ - $175 $ 10 $185
INSTRUCTION: Provide a brief description of the services rendered to each nonassociated company:
<FN>
(A) Load Flow Analysis & Transmission Service Cost Estimate
(B) Computer Software Licensing Revenues & Implementation Support
(C) Tie Line Services
(D) Computer Services
</FN>
* See Descriptions of Activities on page 39.
</TABLE>
<PAGE>
<TABLE>
23
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE AND NONASSOCIATE COMPANIES
<CAPTION>
ASSOCIATE COMPANY CHARGES NONASSOCIATE COMPANY CHARGES TOTAL CHARGES FOR SERVICE
DIRECT INDIRECT DIRECT INDIRECT DIRECT INDIRECT
DESCRIPTION OF ITEMS COST COST TOTAL COST COST TOTAL COST COST TOTAL
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES $54,681 $ 7,830 $62,511 $ 36 $ 42 $ 78 $54,717 $ 7,872 $ 62,589
921 OFFICE SUPPLIES AND EXPENSES 5,201 3,725 8,926 14 4 18 5,215 3,729 8,944
922 ADMINISTRATIVE EXPENSE TRANSFERRED-
CREDIT
923 OUTSIDE SERVICES EMPLOYED 5,771 455 6,226 5,771 455 6,226
924 PROPERTY INSURANCE 96 96 96 96
925 INJURIES AND DAMAGES 76 23 99 76 23 99
926 EMPLOYEE PENSIONS AND BENEFITS 24,271 2,958 27,229 24,271 2,958 27,229
928 REGULATORY COMMISSION EXPENSE
930.1 GENERAL ADVERTISING EXPENSES
930.2 MISC. GENERAL EXPENSES 3,121 200 3,321 3,121 200 3,321
931 RENTS 9,280 3,402 12,682 31 29 60 9,311 3,431 12,742
932 MAINTENANCE OF STRUCTURES AND
EQUIPMENT 2,293 1,471 3,764 9 10 19 2,302 1,481 3,783
403 DEPRECIATION AND AMORTIZATION
EXPENSE 18 2,771 2,789 18 2,771 2,789
408 TAXES OTHER THAN INCOME TAXES 4,638 1,672 6,310 4,638 1,672 6,310
409 INCOME TAXES 1,953 1,953 1,953 1,953
410 PROVISION FOR DEFERRED INCOME TAXES 8,692 8,692 8,692 8,692
411 PROVISION FOR DEFERRED INCOME TAXES
- CREDIT (10,003) (10,003) (10,003) (10,003)
411.5 INVESTMENT TAX CREDIT
421 MISCELLANEOUS INCOME OR LOSS (8) (3) (11) (8) (3) (11)
426.1 DONATIONS 89 89 89 89
426.5 OTHER DEDUCTIONS (510) (510) (510) (510)
427 INTEREST ON LONG-TERM DEBT 3,073 3,073 3,073 3,073
431 OTHER INTEREST EXPENSE 486 486 486 486
INSTRUCTION: Total cost of service will equal
for associate and nonassociate
companies the total amount billed
under their separate analysis of
billing schedules.
TOTAL EXPENSES = 108,921 28,801 137,722 90 85 175 109,011 28,886 137,897
COMPENSATION FOR USE OF EQUITY CAPITAL =
430 INTEREST ON DEBT TO ASSOC. COMPANIES =
TOTAL COST OF SERVICE = $108,921 $28,801 $137,722 $ 90 $85 $175 $109,011 $28,886 $137,897
</TABLE>
<PAGE>
<TABLE>
24
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
D E P A R T M E N T OR S E R V I C E F U N C T I O N
<CAPTION>
MATERIAL
TOTAL BUSINESS CORPORATE HUMAN &
D E S C R I P T I O N O F I T E M S AMOUNT OVERHEAD ACCOUNTING TAXES PLANNING SECRETARY LEGAL RESOURCES SERVICES
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES $ 62,589 $ 7,872 $4,728 $1,028 $ 725 $482 $234 $2,111 $6,306
921 OFFICE SUPPLIES AND EXPENSES 8,944 3,729 193 39 38 32 26 326 506
922 ADMINISTRATIVE EXPENSE TRANSFERRED -
CREDIT
923 OUTSIDE SERVICES EMPLOYED 6,226 455 49 8 19 742 1,162 44
924 PROPERTY INSURANCE 96 96
925 INJURIES AND DAMAGES 99 23 6 1 2 1 3 9
926 EMPLOYEE PENSIONS AND BENEFITS 27,229 2,958 952 220 156 94 49 13,323 1,308
928 REGULATORY COMMISSION EXPENSE
930.1 GENERAL ADVERTISING EXPENSE
930.2 MISCELLANEOUS GENERAL EXPENSES 3,321 200 40 4 26 3 7 149 31
931 RENTS 12,742 3,431 131 38 42 25 37 99 68
932 MAINTENANCE OF STRUCTURES AND
EQUIPMENT 3,783 1,481 3 1 47 1
403 DEPRECIATION AND AMORTIZATION
EXPENSE 2,789 2,771
408 TAXES OTHER THAN INCOME TAXES 6,310 1,672 324 75 53 32 16 151 445
409 INCOME TAXES 1,953 1,953
410 PROVISION FOR DEFERRED INCOME TAXES 8,692 8,692
411 PROVISION FOR DEFERRED INCOME TAXES
- CREDIT (10,003) (10,003)
411.5 INVESTMENT TAX CREDIT
421 MISC. INCOME OR LOSS (11) (3)
426.1 DONATIONS 89 1
26.5 OTHER DEDUCTIONS (510)
427 INTEREST ON LONG-TERM DEBT 3,073 3,073
430 INTEREST ON DEBT TO ASSOCIATE
COMPANIES
431 OTHER INTEREST EXPENSE 486 486
INSTRUCTION: Indicate each department or
service function. (See Instruc-
tion 01-3 General Structure of
Accounting System: Uniform
System Account)
TOTAL EXPENSES = $137,897 $28,886 $6,427 $1,413 $1,061 $669 $1,112 $17,371 $8,718
</TABLE>
<PAGE>
<TABLE>
25
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
D E P A R T M E N T OR S E R V I C E F U N C T I O N
<CAPTION>
GPU/DQE
ACCOUNT INTERNAL INFORMATION POWER SYSTEMS TRANSMISSION POWER TRANSMISSION SYSTEM
NUMBER EXECUTIVE AUDIT SERVICES SUPPLY GENERATION OPERATIONS PLAN & ANAL. CONTRACTS PROJECT PLANNING
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
920 $1,821 $ 2,551 $21,390 $594 $223 $3,777 $1,114 $ 66 $2,032
921 117 158 2,535 55 26 132 45 35 141
922
923 13 74 1,346 112 22 108 191
924
925 2 4 30 1 5 2 3
926 247 534 4,585 105 48 818 245 16 416
928
930.1
930.2 403 9 321 66 20 44 10 (10) 8
931 5 43 7,942 14 19 197 162 15 64
932 2 1,886 98 4
403
408 84 182 2,320 36 16 279 84 5 142
409
410
411
411.5
421 (8)
426.1
426.5
427
430
431
TOTAL $2,692 $3,557 $42,347 $983 $374 $5,458 $1,662 $127 $3,001
</TABLE>
<PAGE>
<TABLE>
25A
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
D E P A R T M E N T OR S E R V I C E F U N C T I O N
<CAPTION>
ACCOUNT BUSINESS GOVERNMENT STRATEGIC CORPORATE
NUMBER DEVELOPMENT COMMUNICATIONS RELATIONS TREASURY PLANNING GENERAL
<S> <C> <C> <C> <C> <C> <C>
920 $1,158 $292 $232 $2,557 $1,296
921 222 88 89 341 71
922
923 475 6 69 95 1,236
924
925 1 4 2
926 237 58 42 526 292
928
930.1
930.2 1,438 374 73 94 18 $(7)
931 107 4 142 54 103
932 5 1 254
403 18
408 81 20 14 179 100
409
410
411
411.5
421
426.1 88
426.5 (510)
427
430
431
TOTAL $3,724 $930 $662 $4,104 $3,118 $(499)
</TABLE>
<PAGE>
<TABLE>
26
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
DEPARTMENTAL ANALYSIS OF SALARIES
ACCOUNT 920
<CAPTION>
DEPARTMENTAL SALARY EXPENSE NUMBER
NAME OF DEPARTMENT INCLUDED IN AMOUNTS BILLED TO PERSONNEL
Indicate each department TOTAL PARENT OTHER NON END OF
or service function. AMOUNT COMPANY ASSOCIATES ASSOCIATES YEAR
<S> <C> <C> <C> <C> <C>
Accounting $ 5,359 $ 33 $ 5,326 $ - 154
Taxes 1,073 - 1,073 - 11
Business Planning 820 1 819 - 10
Corporate Secretary 1,052 83 969 - 23
Legal 249 - 249 - 2
Human Resources 2,596 - 2,596 - 42
Materials and Services 8,652 6 8,646 - 112
Executive 2,172 419 1,753 - 8
Internal Auditing 2,675 - 2,675 - 39
Information Services 24,138 - 24,060 78 381
Power Supply 594 - 594 - 6
Generation 223 - 223 - 3
System Operations 3,783 - 3,783 - 51
Transmission Plan. & Anal. 1,114 - 1,114 - 13
GPU-DQE Transmission Project 66 - 66 - -
System Planning 2,032 - 2,032 - 30
Business Development 1,158 - 1,158 - 13
Communications 530 27 503 - 8
Government Relations 241 - 241 - 3
Treasury 2,765 42 2,723 - 44
Strategic Planning 1,297 - 1,297 - -
TOTAL $62,589 $ 611 $61,900 $ 78 953
</TABLE>
<PAGE>
<TABLE>
27
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed. If the
aggregate amounts paid to any one payee and included within one subaccount
is less than $25,000, only the aggregate number and amount of all such
payments included within the subaccount need be shown. Provide a subtotal
for each type of service.
<CAPTION>
RELATIONSHIP
"A"= ASSOCIATE
FROM WHOM PURCHASED ADDRESS "NA"= NON AMOUNT
ASSOCIATE
<S> <C> <C> <C>
Legal
Ballard Spahr Andrews 1735 Market St. - 51st Floor NA $ 71
& Ingersoll Philadelphia, PA 19103
Berlack, Israels & Liberman 120 West 45th Street NA 358
New York, NY 10036
Crowell & Moring 1001 Pennsylvania Ave., N.W. NA 47
Washington, D.C. 20004
Kleinbard, Bell & Brecker Suite 700 NA 25
1900 Market Street
Philadelphia, PA 19103
Riker, Danzig, Scherer, Hyland 744 Broad Street NA 30
Newark, NJ 07102
Ryan, Russell, Ogden & Seltzer 1100 Berkshire Boulevard NA 26
PO Box 6219
Reading, PA 19610-0219
Steir, Anderson & Malone 1120 Route 22 East NA 65
Bridgewater, NJ 08807
Stevens & Lee 607 Washington Street NA 32
PO Box 679
Reading, PA 19603-0679
Swidler & Berlin 3000 K Street NW NA 201
Suite 300
Washington DC 20007 3851
13 Others (under $25,000) 66
Sub-Total 921
</TABLE>
<PAGE>
27A
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
RELATIONSHIP
"A" = ASSOCIATE
FROM WHOM PURCHASED ADDRESS "NA"= NON AMOUNT
ASSOCIATE
Engineering
CWR Energy, Inc. 3020 Albans Road NA 65
Suite 200
Houston, TX 77005-2146
JDB Engineering, Inc. 3687 Concord Road NA 28
York, PA 17402
MMC Engineering 4 Jeanette Court NA 59
Spring Lke Heights, NJ 07762
6 Others (under $25,000) 39
Sub-Total 191
Auditing
Coopers & Lybrand 1251 Avenue of the NA 84
Americas
New York, NY 10020
Sub-Total 84
Other Professional Services
Advanced Research Mgmt. 766 East Passyunk Ave. NA 244
Consultant Bayport, NY 11705
American Electric Power 2 Broadway NA 54
Service Corp. New York, NY 10004
Arc International, LTD. 5445 DTC Parkway NA 112
Suite 720
Englewood, CO 80111
<PAGE>
<TABLE>
27B
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed.
If the aggregate amounts paid to any one payee and included within
one subaccount is less than $25,000, only the aggregate number and
amount of all such payments included within the subaccount need be
shown. Provide a subtotal for each type of service.
<CAPTION>
RELATIONSHIP
"A"= ASSOCIATE
FROM WHOM PURCHASED ADDRESS "NA"= NON AMOUNT
ASSOCIATE
<S> <C> <C>
Other Professional Services (Continued)
Blair Cad Design 1016 Elizabeth Ave. NA 41
Laureldale, PA 19605
Boston Pacific Company, Inc. 1225 I Street NA 46
N.W. Suite 890
Washington, DC 20005
Chris Wiedersphan 80 Cambridge East NA 49
Oxford, NJ 07863
Computer Horizons Corporation 4 Century Drive NA 227
Parsippany, NJ 07054
Computer Resource Network, 133 Ziegler Road NA 86
Inc. Pennsburg, PA 18073
Cook-Hurlbert, Inc. 9111 Jollyville Road NA 30
Suite 105
Austin, TX 78759
CSC/Index Five Cambridge Center NA 38
Cambridge, MA 02142-1493
Database Consulting
Associates, Inc. Victoria Business Centers NA 61
1489 Baltimore Pike
Springfield, PA 19064
Drexel Associates, Inc. 295 South Newton Street NA 145
PO Box 265
Newton Square, PA 19073
Electric Power Research PO Box 10412 NA 39
Institute Palo Alto, CA 94304
</TABLE>
<PAGE>
<TABLE>
27C
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed. If
the aggregate amounts paid to any one payee and included within one
subaccount is less than $25,000, only the aggregate number and amount
of all such payments included within the subaccount need be shown.
Provide a subtotal for each type of service.
<CAPTION>
RELATIONSHIP
"A"= ASSOCIATE
FROM WHOM PURCHASED ADDRESS "NA"= NON AMOUNT
ASSOCIATE
<S> <C> <C> <C>
Other Professional Services (Continued)
EDP Temps 401 City Line Ave. NA 136
Suite 215
Bala Cynwyd, PA 19004
Electrotek Concepts, Inc. EMPT Users Group NA 27
10305 Dutchtown Rd.
Knoxville, TN 37932
Energy Management 100 Northcreek NA 45
Associates, Inc. Atlanta, GA 30327
General Public Utilities Corp. 100 Interpace Parkway A 30
Parsippany, NJ 07054-1149
Godwins Inc. 299 Cherry Hill Road NA 159
Parsippany, NJ 07054
Barbara C. Heisler R.D. #4, Box 4400 NA 65
Hartz Shore Road
Mohnton, PA 19540
IBM Corporation PO Box 35 NA 29
Philadelphia, PA 19105
Jannotta, Bray & Associates Waterview Corporate Cntr. NA 42
35 Waterview Blvd.
Parsippany, NJ 07054
Johnson & Higgins of NJ, Inc. 10 Sylvan Way NA 35
Parsippany, NJ 07054
Kwasha Lipton, Inc. P.O. Box 1400 NA 130
Fort Lee, NJ 07024
Manpower International, Inc. 210 Park Road North NA 65
Wyomissing, PA 19610
</TABLE>
<PAGE>
<TABLE>
27D
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed. If
the aggregate amounts paid to any one payee and included within one
subaccount is less than $25,000, only the aggregate number and amount
of all such payments included within the subaccount need be shown.
Provide a subtotal for each type of service.
<CAPTION>
RELATIONSHIP
"A"= ASSOCIATE
FROM WHOM PURCHASED ADDRESS "NA"= NON AMOUNT
ASSOCIATE
<S> <C> <C> <C>
Other Professional Services (Continued)
Mercorp, Inc. 329A Willowbrook Drive NA 90
Norristown, PA 19403
MIACO Corporation 8201 Corporate Drive NA 55
Suite 200
Landover, MD 20785
Micro Systems Group, Inc. Computer Center of NA 32
Wyomissing
1105 Berkshire Blvd.
Wyomissing, PA 19610-1242
National Economic Research 555 South Flower Street NA 36
Association Los Angeles, CA 90071
Organizational Dynamics, Inc. 25 Mall Road NA 50
Burlington, MA 01803
Pennsylvania State University 120 South Burrowes St. NA 205
University Park, PA 16801
Peoplesoft, Inc. 1331 North California NA 98
Boulevard
Walnut Creek, CA 94596
Personnel Decisions, Inc. 200 Plaza VII Tower NA 56
45 South Seventh Street
Minneapolis, MN 55402-1608
Plangraphics, Inc. 202 West Main Street NA 78
Suite 200
Frankfort, KY 40601-1806</TABLE>
<PAGE>
<TABLE>
27E
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed. If the
aggregate amounts paid to any one payee and included within one
subaccount is less than $25,000, only the aggregate number and amount of
all such payments included within the subaccount need be shown. Provide
a subtotal for each type of service.
<CAPTION>
RELATIONSHIP
"A"= ASSOCIATE
FROM WHOM PURCHASED ADDRESS "NA"= NON AMOUNT
ASSOCIATE
<S> <C> <C>
Other Professional Services (Continued)
Putnam, Hayes & Bartlett, Inc. 124 Mount Auburn St. NA 1,099
Cambridge, MA 02138
Ramada Inn - Gettysburg 2634 Emittsburg Road NA 30
Gettysburg, PA 17325
Resources for Responsible 264 Beacon St. NA 149
Management Boston, MA 02116
Right Associates One Gatehall Center NA 28
Gatehall Drive
Parsippany, NJ 07054
Standard & Poors Corporation 25 Broadway NA 129
New York, NY 10004
The Standard Register Company PO Box 14506 NA 62
Department 142
Cincinnatti, OH 45263
The Technical Resource Suite 500 NA 143
Group, Inc. PO Box 1192
Exton, PA 19341
Towers Perrin Forster & PO Box 85005-6110 NA 91
Crosby Inc. Philadelphia, PA 19178
United Technical PO Box 1710 NA 35
Associates, Inc. Reading, PA 19603
160 Others (under $25,000) 629
Subtotal 5,030
Grand Total $6,226
</TABLE>
<PAGE>
28
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
EMPLOYEE PENSIONS AND BENEFITS
ACCOUNT 926
INSTRUCTIONS: Provide a listing of each pension plan and benefit program
provided by the service company. Such listing should be
limited to $25,000.
D E S C R I P T I O N AMOUNT
VOLUNTARY ENHANCED RETIREMENT PROGRAM (VERP) $12,880
CAFETERIA SUPPLEMENT 243
SOCIAL CLUB 37
GROUP LIFE INSURANCE 71
HOSPITAL, SURGICAL, MEDICAL & DENTAL INSURANCE 3,316
LONG TERM DISABILITY 434
PENSION PLANS 3,177
EMPLOYEE SAVINGS PLAN 1,943
EDUCATIONAL REIMBURSEMENT 229
VACATION ACCRUAL 812
OPEB LIFE INSURANCE 660
OPEB HEALTH INSURANCE 3,401
OTHER BENEFITS (Under $25,000) 26
TOTAL $27,229
<PAGE>
29
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
GENERAL ADVERTISING EXPENSES
ACCOUNT 930.1
INSTRUCTIONS: Provide a listing of the amount included in Account 930.1,
"General Advertising Expenses", classifying the items according
to the nature of the advertising and as defined in the account
definition. If a particular class includes an amount in excess
of $3,000 applicable to a single payee, show separately the
name of the payee and the aggregate amount applicable thereto.
D E S C R I P T I O N NAME OF PAYEE AMOUNT
NONE
<PAGE>
30
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
MISCELLANEOUS GENERAL EXPENSES
ACCOUNT 930.2
INSTRUCTIONS: Provide a listing of the amount included in Account 930.2,
"Miscellaneous General Expenses", classifying such expenses
according to their nature. Payments and expenses permitted
by Section 321 (b) (2) of the Federal Election Campaign Act,
as amended by Public Law 94-283 in 1976 (2 U.S.C.S. 441 (b)
(2) shall be separately classified.
D E S C R I P T I O N AMOUNT
Dues & Memberships $ 178
Employee Assoc. & Activities 211
In-House Training & Co. Sponsored Educational Courses 1,373
Management Meetings 208
Non-Professional Temporary Help 655
Services Performed by Affiliates 390
Severance 125
Other 181
TOTAL $3,321
<PAGE>
31
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
RENTS
ACCOUNT 931
INSTRUCTIONS: Provide a listing of the amount included in Account 931,
"Rents", classifying such expenses by major groupings of
property, as defined in the account definition of the Uniform
System of Accounts.
T Y P E O F P R O P E R T Y AMOUNT
BUILDINGS $ 276
DATA COMMUNICATION EQUIPMENT 1
DATA PROCESSING EQUIPMENT 8,657
DUPLICATING EQUIPMENT 275
LICENSES & PC SOFTWARE 916
MAILING EQUIPMENT 13
ON-LINE DATA SERVICES 190
OTHER OFFICE EQUIPMENT 15
PERSONAL COMPUTERS 1,951
TELECOMMUNICATIONS SYSTEM 441
MISCELLANEOUS 7
TOTAL $12,742
<PAGE>
32
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
TAXES OTHER THAN INCOME TAXES
ACCOUNT 408
INSTRUCTION: Provide an analysis of Account 408, "Taxes Other Than Income
Taxes". Separate the analysis into two groups: (1) other than
U.S. Government taxes, and (2) U.S. Government taxes. Specify
each of the various kinds of taxes and show the amounts thereof.
Provide a subtotal for each class of tax.
K I N D O F T A X AMOUNT
(1) OTHER THAN U.S. GOVERNMENT TAXES
Local Real Estate - New Jersey $ 493
- Pennsylvania 521
New Jersey Business Personal Property 3
Washington, DC - Personal Property 3
New Jersey Unemployment Insurance 204
Pennsylvania Unemployment Insurance 145
Pennsylvania Sales & Use 758
Sub Total 2,127
(2) TAXES - U.S. GOVERNMENT
Federal Unemployment Insurance 66
FICA 4,117
Sub Total 4,183
TOTAL $6,310
<PAGE>
33
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
DONATIONS
ACCOUNT 426.1
INSTRUCTION: Provide a listing of the amount included in Account 426.1,
"Donations", classifying such expenses by its purpose. The
aggregate number and amount of all items of less than $3,000
may be shown in lieu of details.
NAME OF RECIPIENT PURPOSE OF DONATION AMOUNT
Hershey Medical Center Health Services/Hospitals 3
United Way of Morris County Community Charities 7
United Way of Berks County Community Charities 10
N.J. Institute of Tech. College Matching 5
NAACP Community Charities 5
176 Recipients (Under $3,000) College Matching 21
72 Recipients (Under $3,000) Community Charities 38
TOTAL $ 89
<PAGE>
34
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
OTHER DEDUCTIONS
ACCOUNT 426.5
INSTRUCTIONS: Provide a listing of the amount included in Account 426.5,
"Other Deductions", classifying such expenses according to
their nature.
D E S C R I P T I O N NAME OF PAYEE AMOUNT
Company Owned Life Insurance Premiums Massachusetts Mutual (510)
Life Insurance Co.
TOTAL $(510)
<PAGE>
35
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1994
SCHEDULE XVIII
NOTES TO STATEMENT OF INCOME
INSTRUCTIONS: The space below is provided for important notes regarding the
statement of income or any account thereof. Furnish
particulars as to any significant increase in services rendered
or expenses incurred during the year. Notes relating to
financial statements shown elsewhere in this report may be
indicated here by reference.
NONE
<PAGE>
36
ANNUAL REPORT OF GPU SERVICE CORPORATION
ORGANIZATION CHART
- -------------------------------------------------------
| BOARD OF DIRECTORS |
| Chairman, President & CEO |
-----------------------------------------------------|
| Executive Vice President & |
| General Counsel |
|--------------------------------------------|
| | Corporate Secretary |
| |---------------------------------------|
| | Legal |
| |---------------------------------------|
| | V.P. Government Affairs |
| |---------------------------------------|
| Executive Vice President & |
| Chief Financial Officer |
|--------------------------------------------|
| | Vice President & Treasurer |
| |---------------------------------------|
| | Sr. V.P. Financial Controls |
| |---------------------------------------|
| | Asst. Compt. - Acctg. & Payroll |
| |-----------------------------------|
| | Asst. Compt. - Bus. Plng. & Taxes |
| |-----------------------------------|
| Executive V.P. - Power Supply Group |
|--------------------------------------------|
| | V.P. System Operations |
| |---------------------------------------|
| | V.P. System Planning |
| |---------------------------------------|
| Sr. V.P. System Services |
|--------------------------------------------|
| | V.P. Materials and Services |
| |---------------------------------------|
| | V.P. Information Services |
|--------------------------------------------|
| V.P. Internal Auditing |
|--------------------------------------------|
| V.P. Human Resources |
|--------------------------------------------|
| V.P. Communications |
|---------------------------------------------
| V.P. Corporate Development |
---------------------------------------------
<PAGE>
37
ANNUAL REPORT OF GPU SERVICE CORPORATION
METHODS OF ALLOCATION
1. Multiple Factor:
The average of the following three factors:
A. Gross Distribution Plant at Year-End
B. Energy Sales (MWH) to Ultimate Customers
C. O & M Expense, Excluding Purchased Power
2. Size Factor:
Forecasted capacity responsibility for the
planning period, June - May.
3. Conventional Steam Capacity:
Installed capacity at year-end (MW)
4. Nuclear Steam Capacity:
Installed capacity at year-end (MW)
5. Combustion Turbine Capacity:
Installed capacity at year-end (MW)
6. Three (3) Factor:
Multiple Factor billed to Jersey Central Power & Light Company,
Pennsylvania Electric Company, and Metropolitan Edison Company.
7. Direct Allocation Method
Each Division/Function is assigned one of the above factors for allocating
indirect costs to groups of associated companies. The allocation factor is
based upon each Division/Function's type of work and is reviewed annually.
<PAGE>
38
ANNUAL REPORT OF GPU SERVICE CORPORATION
ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED
NONE
39
ANNUAL REPORT OF GPU SERVICE CORPORATION
VENTURE DISCLOSURES
LICENSING OF COMPUTER PROGRAMS TO NON-ASSOCIATE COMPANIES
Pursuant to the provisions contained in the Securities and Exchange
Commission (SEC) Order dated August 29, 1990 for SEC File No. 70-7675, GPU
Service Corporation did not enter into any transactions or recognize any
revenues during the calendar year 1994 for activities related to the licensing
of computer programs to non-associated companies.
LEASING OF RESERVE COMPUTER CAPACITY
Pursuant to the provisions contained in the Securities and Exchange
Commission (SEC) Order dated August 29, 1990 for SEC File No. 70-7841, GPU
Service Corporation received revenues during 1994 from Citizen's Lehman Power,
a non-associate company, for reserve computer capacity. These revenues are
shown separately on page 22 of this report.
LICENSING OF AUTOMATED MATERIALS MANAGEMENT SYSTEM (AMMS)
COMPUTER PROGRAMS TO NON-ASSOCIATE COMPANIES
Pursuant to the provisions contained in the Securities and Exchange
Commission (SEC) Order dated December 3, 1991 for SEC File No. 70-7871, GPU
Service Corporation received AMMS licensing revenues during 1994 from Energy
Management Associates, a non-associate company. These revenues are shown
separately on page 22 of this report.
<PAGE>
ANNUAL REPORT OF GPU SERVICE CORPORATION
SIGNATURE CLAUSE
Pursuant to the requirements of the Public
Utility Holding Company Act of 1935 and the rules
and regulations of the Securities and Exchange
Commission issued thereunder, the undersigned
Company has duly caused this report to be signed
on its behalf by the undersigned officer thereunto
duly authorized.
GPU SERVICE CORPORATION
(Name of Reporting Company)
By: /s/ P. R. Chatman
(Signature of Signing Officer)
P. R. Chatman, Assistant Comptroller
(Printed Name and Title of Signing Officer)
Date: May 1, 1995
<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR2
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> DEC-31-1994
<EXCHANGE-RATE> 1
<BOOK-VALUE> PER-BOOK
<NET-SERVICE-COMPANY-PROPERTY> 58,692
<TOTAL-INVESTMENTS> 8,157
<TOTAL-CURRENT-ASSETS> 10,032
<TOTAL-DEFERRED-DEBITS> 16,419
<OTHER-ASSETS-AND-DEBITS> 0
<TOTAL-ASSETS-AND-DEBITS> 93,300
<TOTAL-PROPRIETARY-CAPITAL> (650)
<TOTAL-LONG-TERM-DEBT> 37,606
<NOTES-PAYABLE> 0
<NOTES-PAYABLE-ASSOCIATE-COMP> 0
<OTHER-CURR-AND-ACCRUED-LIAB> 30,315
<TOTAL-DEFERRED-CREDITS> 18,434
<DEFERRED-INCOME-TAX> 7,595
<TOT-LIABIL-AND-PROPRIET-CAP> 93,300
<SERVICES-ASSOCIATE-COMPANIES> 137,712
<SERVICES-NON-ASSOCIATE-COMP> 185
<MISC-INCOME-OR-LOSS> 11
<TOTAL-INCOME> 137,908
<SALARIES-AND-WAGES> 62,589
<EMPLOYEE-PENSION-AND-BENEFIT> 27,229
<OTHER-EXPENSES> 48,090
<TOTAL-EXPENSES> 137,908
<NET-INCOME> 0
<TOTAL-EXPENSES-DIRECT-COST> 109,011
<TOTAL-EXPENSES-INDIRECT-COST> 28,886
<TOT-EXP-DIRECT-AND-INDIRECT> 137,897
<PERSONNEL-END-OF-YEAR> 953
<FN>
</FN>
<PAGE>
</TABLE>
|
|