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Previous: GORMAN RUPP CO, 10-Q, 1996-04-26 |
Next: GREAT AMERICAN MANAGEMENT & INVESTMENT INC, 15-12G, 1996-04-26 |
Form U-13-60
Mutual and Subsidiary Service Companies
Revised February 7, 1980
ANNUAL REPORT
FOR THE PERIOD
Beginning January 1, 1995 and Ending December 31, 1995
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) $81,211 $79,711
107 Construction work in progress (Schedule II) - -
Total Property 81,211 79,711
108 Less accumulated provision for depreciation
and amortization of service company
property (Schedule III) 24,434 21,019
Net Service Company Property 56,777 58,692
INVESTMENTS
123 Investments in associate companies (Schedule IV) - -
124 Other investments (Schedule IV) 10,668 8,157
Total Investments 10,668 8,157
CURRENT AND ACCRUED ASSETS
131 Cash 32 46
134 Special deposits 92 85
135 Working funds - -
136 Temporary cash investments (Schedule IV) - -
141 Notes receivable - -
143 Accounts receivable 2,235 123
144 Accumulated provision for uncollectible accounts - -
146 Accounts receivable from associate
companies (Schedule V) 5,366 9,182
152 Fuel stock expenses undistributed (Schedule VI) - -
154 Materials and supplies - -
163 Stores expense undistributed (Schedule VII) - -
165 Prepayments 335 596
171 Interest Receivable - -
174 Miscellaneous current and accrued
assets (Schedule VIII) - -
Total Current and Accrued Assets 8,060 10,032
DEFERRED DEBITS
181 Unamortized debt expense 46 54
184 Clearing accounts 132 -
186 Miscellaneous deferred debits (Schedule IX) 2,788 1,728
188 Research, development, or demonstration
expenditures (Schedule X) - -
190 Accumulated deferred income taxes 12,796 14,637
Total Deferred Debits 15,762 16,419
TOTAL ASSETS AND OTHER DEBITS $91,267 $93,300
<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) (768) (700)
216 Unappropriated retained earnings (Schedule XI) - -
Total Proprietary Capital (718) (650)
LONG-TERM DEBT
223 Advances from associate companies (Schedule XII) - -
224 Other long-term debt (Schedule XII) 33,685 37,606
225 Unamortized premium on long-term debt - -
226 Unamortized discount on long-term debt-debit - -
Total Long-term Debt 33,685 37,606
CURRENT AND ACCRUED LIABILITIES
231 Notes payable - -
232 Accounts payable 11,233 5,535
233 Notes payable to associate
companies (Schedule XIII) - -
234 Accounts payable to associate
companies (Schedule XIII) - 754
236 Taxes accrued 2,824 2,074
237 Interest accrued 659 690
238 Dividends declared - -
241 Tax collections payable 729 661
242 Miscellaneous current and accrued
liabilities (Schedule XIII) 24,801 20,601
Total Current and Accrued Liabilities 40,246 30,315
DEFERRED CREDITS
253 Other deferred credits 9,613 18,434
255 Accumulated deferred investment tax credits - -
Total Deferred Credits 9,613 18,434
282 ACCUMULATED DEFERRED INCOME TAXES 8,441 7,595
TOTAL LIABILITIES AND PROPRIETARY
CAPITAL $91,267 $93,300
<PAGE>
<TABLE>
6
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 50,036 461 - - 50,497
306 LEASEHOLD
IMPROVEMENTS - - - - -
307 EQUIPMENT 2/ 20,178 4,692 3,918 - 20,952
308 OFFICE FURNITURE
AND EQUIPMENT 4,850 44 - - 4,894
309 AUTOMOBILES, OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT
310 AIRCRAFT AND
AIRPORT EQUIPMENT
311 OTHER SERVICE
COMPANY PROPERTY 3/ 1,774 221 - - 1,995
SUB-TOTAL 79,711 5,418 3,918 - 81,211
107 CONSTRUCTION WORK
IN PROGRESS 4/ - - - - -
TOTAL $79,711 $ 5,418 $ 3,918 $ - $81,211
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
N/A
</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) $ 181 $ 2,127
DATA PROCESSING EQUIPMENT 3,304 15,042
DISPATCHING EQUIPMENT 135 302
LOAD RESEARCH EQUIPMENT - 119
MISCELLANEOUS EQUIPMENT 118 346
PERSONAL COMPUTER 954 3,016
TOTAL $ 4,692 $20,952
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, 1995
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 $13,498 $1,205 $ - $ - $14,703
306 LEASEHOLD
IMPROVEMENTS - - - - -
307 EQUIPMENT 4,692 1,652 - - 6,344
308 OFFICE FURNITURE
AND FIXTURES 2,222 487 - - 2,709
309 AUTOMOBILES, OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT
310 AIRCRAFT AND
AIRPORT EQUIPMENT
311 OTHER SERVICE
COMPANY PROPERTY 607 71 - - 678
$21,019 $3,415 $ - $ - $24,434
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
N/A
</TABLE>
<PAGE>
9
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $8,157 $ 8,761
RABBI TRUST - 1,907
ACCOUNT 136 - TEMPORARY CASH INVESTMENTS
NONE
TOTAL $8,157 $10,668
<PAGE>
10
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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. $ 142 $ 289
GENERAL PUBLIC UTILITIES CORPORATION - 423
GPU NUCLEAR CORPORATION 834 736
JERSEY CENTRAL POWER & LIGHT COMPANY 4,587 1,470
METROPOLITAN EDISON COMPANY 1,049 1,305
PENNSYLVANIA ELECTRIC COMPANY 2,570 1,143
TOTAL $ 9,182 $ 5,366
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS: TOTAL
PAYMENTS
INTERCHANGE TRANSACTIONS
JERSEY CENTRAL POWER & LIGHT COMPANY $31,445
METROPOLITAN EDISON COMPANY 65,192
PENNSYLVANIA ELECTRIC COMPANY 6,588
TOTAL PAYMENTS $103,225
<PAGE>
11
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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, 1995
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 $2,653 $779 $3,432
BILLED TO:
JERSEY CENTRAL POWER & LIGHT COMPANY (839) (200) (1,039)
METROPOLITAN EDISON COMPANY (840) (215) (1,055)
PENNSYLVANIA ELECTRIC COMPANY (913) (364) (1,277)
GPU NUCLEAR CORPORATION (61) - (61)
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, 1995
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, 1995
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 $ 44 $ 152
Stock Plan 987 1,904
Procurement Cards 9 35
Unclassified Charges by Associates 679 513
Fringe Benefits 106 -
Misc. Billing Adjustments (97) 184
TOTAL $1,728 $2,788
<PAGE>
15
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $ 26
BILLED TO:
JERSEY CENTRAL POWER & LIGHT COMPANY (14)
PENNSYLVANIA ELECTRIC COMPANY (6)
METROPOLITAN EDISON COMPANY (6)
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, 1995
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 $( 768)
GPUSC Excess Pension Plan Minimum Liability Recognition
TOTAL $( 768)
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.
<PAGE>
17
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $ 22,400 $ 3,200 $19,200*
First Fidelity 9/30/98 Variable 11,500 11,500
Obligations under Capital Leases Various Various 3,706 $ 2,738 3,459 2,985
Total $ 37,606 $ 2,738 $ 6,659 $33,685
1/ GIVE AN EXPLANATION OF DEDUCTIONS: Payments Per Agreements
* Includes $3,200 due within one year.
</TABLE>
<PAGE>
18
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $ 754 $ -
TOTAL $ 754 $ -
ACCOUNT 242 - MISCELLANEOUS CURRENT AND ACCRUED
LIABILITIES
ACCRUALS
- DENTAL $ 120 $ 120
- CAFETERIA SUPPLEMENT 18 18
- INTERCHANGE POWER (11) (71)
- INCENTIVE COMPENSATION 3,535 6,166
- HOSPITALIZATION (297) 1,761
- LEGAL 237 228
- OFFICERS' DEFERRED COMPENSATION 4,193 4,901
- PENSION COSTS 2,893 2,543
- SEVERANCE PAY 363 -
- VACATION 6,208 6,250
- OBLIGATIONS UNDER CAPITAL LEASES 3,342 2,885
(Short-Term Portion)
TOTAL $20,601 $24,801
<PAGE>
19
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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.
NONE
<PAGE>
20
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $128,143 $137,712
458 Services rendered to nonassociate
companies 390 185
421 Miscellaneous income or loss 8 11
Total Income 128,541 137,908
EXPENSE
920 Salaries and wages 59,293 62,589
921 Office supplies and expenses 11,025 8,944
922 Administrative expense transferred -
credit - -
923 Outside services employed 8,471 6,226
924 Property insurance 53 96
925 Injuries and damages 142 99
926 Employee pensions and benefits 18,609 27,229
928 Regulatory commission expense - -
930.1 General advertising expenses 1 -
930.2 Miscellaneous general expenses 3,729 3,321
931 Rents 10,241 12,742
932 Maintenance of structures and equipment 3,505 3,783
403 Depreciation and amortization expense 3,415 2,789
408 Taxes other than income taxes 5,955 6,310
409 Income taxes (1,887) 1,953
410 Provision for deferred income taxes 9,851 8,692
411 Provision for deferred income taxes -
credit (7,246) (10,003)
411.5 Investment tax credit - -
426.1 Donations 120 89
426.5 Other deductions (210) (510)
427 Interest on long-term debt 2,947 3,073
430 Interest on debt to associate
companies - -
431 Other interest expense 527 486
Total Expense 128,541 137,908
Net Income or (Loss) $ - $ -
<PAGE>
21
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $ 1,199 $ 224 $ - $ 1,423
JERSEY CENTRAL POWER
& LIGHT COMPANY 33,683 9,236 - 42,919
PENNSYLVANIA ELECTRIC
COMPANY 29,579 7,939 - 37,518
METROPOLITAN EDISON
COMPANY 20,863 5,758 - 26,621
GPU NUCLEAR CORPORATION 14,285 5,024 - 19,309
ENERGY INITIATIVES, INC. 289 64 - 353
TOTAL $ 99,898 $28,245 $ - $128,143
<PAGE>
<TABLE>
22
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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>
* Utilities Resources, Inc. (A) $ 240 $240
* New York State Electric & Gas (B) 10 10
Rudolf M. Szundy (C) 12 12
New York State Electric & Gas (D) $ 6 $ 6 6
PJM Interconnection Office (E) 11 11 11
Utilities Employees Credit Union (F) 40 $ 71 111 111
TOTAL $ 57 $ 71 $ - $128 $262 $390
INSTRUCTION: Provide a brief description of the services rendered to each nonassociated company:
(A) Automated Materials Management System (AMMS) Guaranteed Royalty
(B) Transmission Service Cost Estimate Study Fee
(C) Lawsuit Settlement
(D) Tie Line Services
(E) Computer Terminal Replacement & Communication Backup Service
(F) Computer Services
* See Descriptions of Activities on page 39.
<PAGE>
23
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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>
920 SALARIES AND WAGES $52,212 $ 7,061 $59,273 $ 7 $ 13 $ 20 $52,219 $ 7,074 $ 59,293
921 OFFICE SUPPLIES AND EXPENSES 5,698 5,308 11,006 14 5 19 5,712 5,313 11,025
922 ADMINISTRATIVE EXPENSE TRANSFERRED-
CREDIT
923 OUTSIDE SERVICES EMPLOYED 8,108 363 8,471 8,108 363 8,471
924 PROPERTY INSURANCE 1 52 53 1 52 53
925 INJURIES AND DAMAGES 118 24 142 118 24 142
926 EMPLOYEE PENSIONS AND BENEFITS 16,728 1,881 18,609 16,728 1,881 18,609
928 REGULATORY COMMISSION EXPENSE
930.1 GENERAL ADVERTISING EXPENSES 1 1 1 1
930.2 MISC. GENERAL EXPENSES 2,971 752 3,723 6 6 2,977 752 3,729
931 RENTS 7,759 2,424 10,183 21 37 58 7,780 2,461 10,241
932 MAINTENANCE OF STRUCTURES AND
EQUIPMENT 2,039 1,441 3,480 9 16 25 2,048 1,457 3,505
403 DEPRECIATION AND AMORTIZATION
EXPENSE 77 3,338 3,415 77 3,338 3,415
408 TAXES OTHER THAN INCOME TAXES 4,540 1,415 5,955 4,540 1,415 5,955
409 INCOME TAXES (1,887) (1,887) (1,887) (1,887)
410 PROVISION FOR DEFERRED INCOME TAXES 9,851 9,851 9,851 9,851
411 PROVISION FOR DEFERRED INCOME TAXES
- CREDIT (7,246) (7,246) (7,246) (7,246)
411.5 INVESTMENT TAX CREDIT
421 MISCELLANEOUS INCOME OR LOSS (2) (6) (8) (2) (6) (8)
426.1 DONATIONS 120 120 120 120
426.5 OTHER DEDUCTIONS (210) (210) (210) (210)
427 INTEREST ON LONG-TERM DEBT 2,947 2,947 2,947 2,947
431 OTHER INTEREST EXPENSE 527 527 527 527
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 = 100,160 28,245 128,405 57 71 128 100,217 28,316 128,533
COMPENSATION FOR USE OF EQUITY CAPITAL =
430 INTEREST ON DEBT TO ASSOC. COMPANIES =
TOTAL COST OF SERVICE = $100,160 $28,245 $128,405 $ 57 $71 $128 $100,217 $28,316 $128,533
<PAGE>
24
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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>
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
<S> <C> <C> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES $ 59,293 $ 7,074 $6,154 $ 832 $ 690 $433 $ 287 $2,185
921 OFFICE SUPPLIES AND EXPENSES 11,025 5,313 168 42 39 21 31 258
922 ADMINISTRATIVE EXPENSE TRANSFERRED -
CREDIT
923 OUTSIDE SERVICES EMPLOYED 8,471 363 101 35 55 (2) 1,225 1,244
924 PROPERTY INSURANCE 53 52
925 INJURIES AND DAMAGES 142 24 13 2 2 2 5
926 EMPLOYEE PENSIONS AND BENEFITS 18,609 1,881 1,497 204 169 81 65 517
928 REGULATORY COMMISSION EXPENSE
930.1 GENERAL ADVERTISING EXPENSE 1
930.2 MISCELLANEOUS GENERAL EXPENSES 3,729 752 1,101 (39) 28 11 16 271
931 RENTS 10,241 2,461 414 52 44 (2) 6 107
932 MAINTENANCE OF STRUCTURES AND
EQUIPMENT 3,505 1,457 12
403 DEPRECIATION AND AMORTIZATION
EXPENSE 3,415 3,338
408 TAXES OTHER THAN INCOME TAXES 5,955 1,415 430 59 49 23 19 148
409 INCOME TAXES (1,887) (1,887)
410 PROVISION FOR DEFERRED INCOME TAXES 9,851 9,851
411 PROVISION FOR DEFERRED INCOME TAXES
- CREDIT (7,246) (7,246)
411.5 INVESTMENT TAX CREDIT
421 MISC. INCOME OR LOSS (8) (6)
426.1 DONATIONS 120 1
426.5 OTHER DEDUCTIONS (210)
427 INTEREST ON LONG-TERM DEBT 2,947 2,947
430 INTEREST ON DEBT TO ASSOCIATE
COMPANIES
431 OTHER INTEREST EXPENSE 527 527
INSTRUCTION: Indicate each department or
service function. (See Instruc-
tion 01-3 General Structure of
Accounting System: Uniform
System Account)
TOTAL EXPENSES= $128,533 $28,316 $9,879 $1,187 $1,076 $567 $1,649 $4,747
<PAGE>
25
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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
ACCOUNT & INTERNAL INFORMATION POWER SYSTEM TRANSMISSION
NUMBER SERVICE EXECUTIVE AUDIT SERVICES SUPPLY GENERATION OPERATIONS PLAN & ANAL.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
920 $1,317 $3,154 $ 2,740 $18,389 $ 690 $ 178 $3,580 $314
921 259 367 194 2,688 87 22 133 19
922
923 34 168 31 1,310 307 20 82 8
924 1
925 3 3 6 48 1 7 1
926 332 338 667 9,050 145 38 866 79
928
930.1 1
930.2 52 74 14 (41) 18 42 1
931 57 10 108 6,099 40 16 222 29
932 31 1 1,683 47
403 37
408 96 97 192 2,333 42 10 249 23
409
410
411
411.5
421 (2)
426.1 3
426.5
427
430
431
TOTAL $2,150 $4,245 $ 3,953 $41,596 $ 1,330 $ 284 $5,228 $474
<PAGE>
25A
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 SYSTEM PROCESS BUSINESS GOVERNMENT STRATEGIC CORPORATE
NUMBER PLANNING SERVICES DEVELOPMENT COMMUNICATIONS RELATIONS TREASURY PLANNING GENERAL
<S> <C> <C> <C> <C> <C> <C> <C> <C>
920 $2,410 $3,729 $ 198 $ 269 $ 268 $2,988 $1,414
921 178 679 24 143 110 183 63 $ 4
922
923 1,458 862 59 87 117 897 10
924
925 5 9 1 1 7 2
926 553 942 60 75 58 729 263
928
930.1
930.2 40 753 4 441 32 88 27 44
931 69 183 2 141 43 25 115
932 1 276 5 (8)
403 40
408 159 270 17 22 17 210 75
409
410
411
411.5
421
426.1 117 (1)
426.5 15 (225)
427
430
431
TOTAL $4,873 $7,703 $ 362 $1,172 $ 749 $5,136 $1,879 $ (22)
<PAGE>
26
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $ 6,409 $ 22 $ 6,387 $ - 125
Taxes 879 1 878 - 14
Business Planning 799 - 799 - 11
Corporate Secretary 1,138 52 1,086 - 23
Legal 296 1 295 - 2
Human Resources 2,633 - 2,633 - 38
Materials and Services 3,773 38 3,735 - 79
Executive 3,508 476 3,032 - 9
Internal Auditing 2,741 - 2,741 - 41
Information Services 20,538 - 20,518 20 367
Power Supply 690 - 690 - 8
Generation 178 - 178 - -
System Operations 3,580 - 3,580 - 58
Transmission Plan. & Anal. 314 - 314 - -
System Planning 2,410 - 2,410 - 30
Process Services 3,852 - 3,852 - 109
Business Development 198 - 198 - 4
Communications 600 39 561 - 8
Government Relations 291 - 291 - 3
Treasury 2,991 72 2,919 - 41
Strategic Planning 1,475 - 1,475 - -
TOTAL $59,293 $ 701 $58,572 $ 20 970
<PAGE>
27
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 Philadelphia, PA 19103 NA $ 155
& Ingersoll
Berlack, Israels & Liberman New York, NY 10036 NA 504
Potomac Electric Power Company Washington, D.C. 20068 NA 52
Saul, Ewing, Remick & Saul Philadelphia, PA 19102 NA 49
Steir, Anderson & Malone Bridgewater, NJ 08807 NA 50
Stevens & Lee Reading, PA 19603 NA 30
Swidler & Berlin Washington, D.C. 20007 NA 242
21 Others (under $25,000) 130
Sub-Total 1,212
Engineering
R. W. Beck Denver, CO 80202 NA 51
CWR Energy, Inc. Houston, TX 77005-2146 NA 29
MMC Engineering Spring Lake Hghts, NJ 07762 NA 82
12 Others (under $25,000) 81
Sub-Total 243
<PAGE>
27A
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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
Auditing
Coopers & Lybrand, L.L.P. New York, NY 10020 NA $ 44
Sub-Total 44
Other Professional Services
Advanced Research Mgmt. Bayport, NY 11705 NA 145
Consultant
American Electric Power New York, NY 10004 NA 63
Service Corp.
Anylec Research, Inc. Bayport, NY 11705 NA 31
Arc International, LTD. Englewood, CO 80111 NA 114
Blair Cad Design Laureldale, PA 19605 NA 60
The Boston Consulting Chicago, IL 60675 NA 667
Group, Inc.
Cambridge Energy Research Cambridge, MA 02138 NA 44
Associates
The Canyon Group, Inc. Los Angeles, CA 90025 NA 41
Coalition on PURPA Reform Augusta, MA 04336 NA 46
Computer Horizons Corporation Parsippany, NJ 07054 NA 109
Coopers & Lybrand, L.L.P. Pittsburgh, PA 15264 NA 48
CSC/Index Cambridge, MA 02142-1493 NA 40
<PAGE>
27B
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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
Other Professional Services (Continued)
Drexel Associates, Inc. Newton Square, PA 19073 NA $ 157
DRI/McGraw Hill Woburn, MA 01815 NA 56
EDP Temps Bala Cynwyd, PA 19004 NA 99
Energy Management Atlanta, GA 30327 NA 49
Associates, Inc.
Folsom Resource Group, Inc. Morristown, NJ 07960 NA 26
Genesis Micro Solutions, Inc. Malvern, PA 19355 NA 31
Godwins Inc. Parsippany, NJ 07054 NA 191
GPU Nuclear Corporation Parsippany, NJ 07054 A 53
Greenwich Associates Overland, KS 66213 NA 54
Peter D. Hart Research Washington, D.C. 20009 NA 82
Associates, Inc.
Barbara C. Heisler Mohnton, PA 19540 NA 66
IBM Corporation Philadelphia, PA 19105 NA 76
Integro Resources, Inc. Parsippany, NJ 07054 NA 46
Jersey Central Power Morristown, NJ 07960 A 165
& Light Company
Kranz Associates, Inc. Plymouth, PA 19462 NA 62
<PAGE>
27C
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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
Other Professional Services (Continued)
Manpower International, Inc. Wyomissing, PA 19610 NA $ 45
Mercorp, Inc. Norristown, PA 19403 NA 54
Metzler & Associates Deerfield, IL 60015 NA 50
Midcon Gas Services Corporation Lombard, IL 60148 NA 175
Marc B. Mundell Dauberville, PA 19517 NA 56
National Economic Research Los Angeles, CA 90071 NA 32
Association
Ogilvy, Adams & Rinehart New York, NY 10017 NA 66
Omega Computer Systems, Inc. Pilgrim Gardens, PA 19026 NA 25
Organizational Dynamics, Inc. Burlington, MA 01803 NA 42
Pennsylvania State University University Park, PA 16801 NA 697
Peoplesoft, Inc. Walnut Creek, CA 94596 NA 399
Personnel Decisions, Inc. Minneapolis, MN 55402 NA 25
Potomac Electric Power Company Washington, D.C. 20068 NA 343
Putnam, Hayes & Bartlett, Inc. Cambridge, MA 02138 NA 128
Real Decisions Corporation Newark, NJ 07193 NA 57
<PAGE>
27D
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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
Other Professional Services (Continued)
Resource Data International Boulder, CO 80306 NA $ 29
Resources for Responsible Boston, MA 02116 NA 136
Management
Right Associates Parsippany, NJ 07054 NA 46
Solution Technologies, Inc. Camp Hill, PA 17011 NA 96
Standard & Poors Corporation New York, NY 10004 NA 38
Strategic Decision Group Menlo Park, CA 94025 NA 940
The Technical Resource Exton, PA 19341 NA 173
Group, Inc.
Towers Perrin Philadelphia, PA 19178 NA 73
R. Uhler, Inc. Boyertown, PA 19512 NA 55
United Jersey Bank Hackensack, NJ 07602 NA 53
Chris Wiedersphan Oxford, NJ 07863 NA 87
H. L. Yoh Company Atlanta, GA 30384 NA 31
229 Others (under $25,000) 400
Subtotal 6,972
Grand Total $8,471
</TABLE>
<PAGE>
28
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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
CAFETERIA SUPPLEMENT $ 282
SOCIAL CLUB 40
GROUP LIFE INSURANCE 198
HOSPITAL, SURGICAL, MEDICAL & DENTAL INSURANCE 4,312
PENSION PLANS 4,354
EMPLOYEE SAVINGS PLAN 1,936
EDUCATIONAL REIMBURSEMENT 222
VACATION ACCRUAL 3,443
OPEB LIFE INSURANCE 506
OPEB HEALTH INSURANCE 3,281
OTHER BENEFITS (Under $25,000) 35
TOTAL $18,609
<PAGE>
29
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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
Advertisement in Business Eastern Pa. Business
Periodicals Journal $ 1
TOTAL $ 1
<PAGE>
30
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $ 61
Employee Assoc. & Activities 270
In-House Training & Co. Sponsored Educational Courses 766
Management Meetings 304
Non-Professional Temporary Help 866
Services Performed by Affiliates 949*
Other 513
* Includes JCP&L bargaining unit clerks with GPUSC reporting relationship.
TOTAL $3,729
<PAGE>
31
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $ 522
DATA PROCESSING EQUIPMENT 5,435
DUPLICATING EQUIPMENT 281
LICENSES & PC SOFTWARE 943
MAILING EQUIPMENT 33
ON-LINE DATA SERVICES 150
OTHER OFFICE EQUIPMENT 10
PERSONAL COMPUTERS 2,455
TELECOMMUNICATIONS SYSTEM 384
TRANSPORTATION EQUIPMENT 10
MISCELLANEOUS 18
TOTAL $10,241
<PAGE>
32
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $ 474
- Pennsylvania 410
New Jersey Unemployment Insurance 139
Pennsylvania Unemployment Insurance 132
Pennsylvania Sales & Use 776
Sub Total 1,931
(2) TAXES - U.S. GOVERNMENT
Federal Unemployment Insurance 63
FICA 3,961
Sub Total 4,024
TOTAL $5,955
<PAGE>
33
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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
United Way of Morris County Community Charities $ 7
United Way of Berks County Community Charities 11
Hershey Medical Center Health Services/Hospitals 3
St. Clare's/Riverside Medical Ctr. Health Services/Hospitals 5
12 Organizations (Under $3,000) Health Services/Hospitals 8
N.J. Institute of Technology Education 5
Fairleigh Dickinson University Education 5
County College of Morris Education 3
The Progress & Freedom Foundation Education 5
75 Organizations (Under $3,000) Education 21
Eva's Kitchen Community Services 5
Police Ath. League of Parsippany Community Services 6
D. O'Brien Child Advocacy Center Community Services 5
49 Organizations (Under $3,000) Community Services 23
N.J. Shakespeare Festival Cultural Development 4
5 Organizations (Under $3,000) Cultural Development 4
TOTAL $120
<PAGE>
34
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 $(210)
Life Insurance Co.
TOTAL $(210)
<PAGE>
35
ANNUAL REPORT OF GPU SERVICE CORPORATION
For the Year Ended December 31, 1995
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 |
| |---------------------------------------|
| | Director - Corporate Legal Services |
| |---------------------------------------|
| | V.P. Government Affairs |
| |---------------------------------------|
| Executive Vice President & |
| Chief Financial Officer |
|--------------------------------------------|
| | Vice President & Treasurer |
| |---------------------------------------|
| | Sr. V.P. Financial Controls |
| |---------------------------------------|
| | Asst. Compt. - Acctg. |
| |-----------------------------------|
| | 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. Information Services |
| |---------------------------------------|
| | Director - Materials and Services |
| |---------------------------------------|
| | Director - Process 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.
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
<PAGE>
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 1995 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 1995 from New York State Electric
and Gas, 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 1995 from
Utilities Resources, Inc., a non-associate company. These revenues are shown
separately on page 22 of this report.
FIBER OPTIC LEASE AGREEMENT
Pursuant to the provisions contained in the Securities and Exchange
Commission (SEC) Order dated August 2, 1994 for SEC File No. 70-7850, GPU
Service Corporation incurred no revenues or expenses during the year for this
agreement. All revenues and expenses incurred by Jersey Central Power & Light
Company and Metropolitan Edison Company are reported on GPU's 1995 Form U5S.
<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, 1996
<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR2
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<BOOK-VALUE> PER-BOOK
<NET-SERVICE-COMPANY-PROPERTY> 56,777
<TOTAL-INVESTMENTS> 10,668
<TOTAL-CURRENT-ASSETS> 8,060
<TOTAL-DEFERRED-DEBITS> 15,762
<OTHER-ASSETS-AND-DEBITS> 0
<TOTAL-ASSETS-AND-DEBITS> 91,267
<TOTAL-PROPRIETARY-CAPITAL> (718)
<TOTAL-LONG-TERM-DEBT> 33,685
<NOTES-PAYABLE> 0
<NOTES-PAYABLE-ASSOCIATE-COMP> 0
<OTHER-CURR-AND-ACCRUED-LIAB> 40,246
<TOTAL-DEFERRED-CREDITS> 9,613
<DEFERRED-INCOME-TAX> 8,441
<TOT-LIABIL-AND-PROPRIET-CAP> 91,267
<SERVICES-ASSOCIATE-COMPANIES> 128,143
<SERVICES-NON-ASSOCIATE-COMP> 390
<MISC-INCOME-OR-LOSS> 8
<TOTAL-INCOME> 128,541
<SALARIES-AND-WAGES> 59,293
<EMPLOYEE-PENSION-AND-BENEFIT> 18,609
<OTHER-EXPENSES> 50,639
<TOTAL-EXPENSES> 128,541
<NET-INCOME> 0
<TOTAL-EXPENSES-DIRECT-COST> 100,217
<TOTAL-EXPENSES-INDIRECT-COST> 28,316
<TOT-EXP-DIRECT-AND-INDIRECT> 128,533
<PERSONNEL-END-OF-YEAR> 970
<FN>
</FN>
<PAGE>
</TABLE>
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