File No. 70-9077
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________________
AMENDMENT NO. 1
TO
FORM U-1
__________________________________
APPLICATION OR DECLARATION
under the
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
* * *
AMERICAN ELECTRIC POWER COMPANY, INC.
AEP RESOURCES, INC.
1 Riverside Plaza, Columbus, Ohio 43215
(Name of company or companies filing this statement
and addresses of principal executive offices)
* * *
AMERICAN ELECTRIC POWER COMPANY, INC.
1 Riverside Plaza, Columbus, Ohio 43215
(Name of top registered holding company
parent of each applicant or declarant)
* * *
G. P. Maloney, Executive Vice President
AMERICAN ELECTRIC POWER SERVICE CORPORATION
1 Riverside Plaza, Columbus, Ohio 43215
Jeffrey D. Cross, General Counsel
AEP RESOURCES, INC.
1 Riverside Plaza, Columbus, Ohio 43215
(Names and addresses of agents for service)
American Electric Power Company, Inc. ("American"), a holding
company registered under the Public Utility Holding Company Act of
1935, and AEP Resources, Inc. ("Resources"), a wholly-owned
nonutility subsidiary of American, hereby amend their joint
Application or Declaration on Form U-1 in File No. 70-9077.
1. By amending and restating the sixth paragraph under
Compliance with Rule 54 as follows:
"Rule 53(b). (i) Neither American nor any subsidiary of
American is the subject of any pending bankruptcy or similar
proceeding; (ii) American's average consolidated retained earnings
for the four most recent quarterly periods ($1,540,440,000)
represented an increase of approximately $32,481,000 (or 2.2%) in
the average consolidated retained earnings from the previous four
quarterly periods ($1,507,959,000); and (iii) for the fiscal year
ended December 31, 1996, American did not report operating losses
attributable to its direct or indirect investments in EWGs and
FUCOs."
2. By filing the Balance sheets, per books, as of March 31,
1997 and statements of income and retained earnings for the twelve
months then ended of American and of American and its subsidiaries
consolidated. Balance sheets, per books, as of March 31, 1997 and
statements of income and retained earnings for the twelve months
then ended of Resources and of Resources and its subsidiaries have
been filed separately with a request for confidential treatment.
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned companies have duly caused
this statement to be signed on its behalf by its duly authorized
officer.
AMERICAN ELECTRIC POWER COMPANY, INC.
AEP RESOURCES, INC.
By_/s/ A. A. Pena___________________
Treasurer
Dated: August 13, 1997
<PAGE>
<TABLE>
FINANCIAL STATEMENTS
PAGE 1
AMERICAN ELECTRIC POWER COMPANY, INC.
BALANCE SHEET
MARCH 31, 1997
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
ASSETS
PROPERTY AND INVESTMENTS:
Investment in Subsidiaries . . . . . . . . . . . . $4,616,393
Investment in Ohio Valley Electric Corporation . . 4,082
Property . . . . . . . . . . . . . . . . . . . . . 312
TOTAL PROPERTY AND INVESTMENTS . . . . . . . . 4,620,787
CURRENT ASSETS:
Cash and Cash Equivalents. . . . . . . . . . . . . 22
Accounts Receivable. . . . . . . . . . . . . . . . 946
Prepayments. . . . . . . . . . . . . . . . . . . . 135
TOTAL CURRENT ASSETS . . . . . . . . . . . . . 1,103
DEFERRED CHARGES . . . . . . . . . . . . . . . . . . 16,438
TOTAL . . . . . . . . . . . . . . . . $4,638,328
</TABLE>
<PAGE>
<TABLE>
FINANCIAL STATEMENTS
PAGE 2
AMERICAN ELECTRIC POWER COMPANY, INC.
BALANCE SHEET
MARCH 31, 1997
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock - Par Value $6.50:
Authorized - 300,000,000 Shares. . . . . . . . . . .
Outstanding - 197,709,992 Shares
of which 8,999,992 shares were held in the treasury. $1,285,115
Paid-in Capital. . . . . . . . . . . . . . . . . . . . 1,731,695
Retained Earnings. . . . . . . . . . . . . . . . . . . 1,607,776
Total Common Shareholders' Equity. . . . . . . . . 4,624,586
CURRENT LIABILITIES:
Short-term Debt. . . . . . . . . . . . . . . . . . . . 12,325
Accounts Payable . . . . . . . . . . . . . . . . . . . 324
Interest Accrued . . . . . . . . . . . . . . . . . . . 10
Other. . . . . . . . . . . . . . . . . . . . . . . . . 1,020
TOTAL CURRENT LIABILITIES. . . . . . . . . . . . . 13,679
DEFERRED CREDITS . . . . . . . . . . . . . . . . . . . . 63
TOTAL . . . . . . . . . . . . . . . . . . $4,638,328
</TABLE>
<PAGE>
<TABLE>
FINANCIAL STATEMENTS
PAGE 3
AMERICAN ELECTRIC POWER COMPANY, INC.
STATEMENT OF INCOME
TWELVE MONTHS ENDED MARCH 31, 1997
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
INCOME:
Equity in Subsidiaries' Earnings . . . . . $586,547
Ohio Valley Electric
Corporation Dividends. . . . . . . . . . 594
TOTAL INCOME. . . . . . . . . . . . 587,141
EXPENSES:
Administrative and General . . . . . . . . 5,474
Taxes Other Than Federal Income Taxes. . . 21
Interest . . . . . . . . . . . . . . . . . 1,666
TOTAL EXPENSES. . . . . . . . . . . 7,161
NET INCOME . . . . . . . . . . . . . . . . . $579,980
</TABLE>
<PAGE>
<TABLE>
FINANCIAL STATEMENTS
PAGE 4
AMERICAN ELECTRIC POWER COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED MARCH 31, 1997
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
BALANCE AT BEGINNING OF PERIOD . . . . . . . . . . . . . . . . . . . . $1,477,852
NET INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 579,980
DEDUCTIONS:
Cash Dividends Declared. . . . . . . . . . . . . . . . . . . . . . . 450,313
Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (257)
BALANCE AT END OF PERIOD . . . . . . . . . . . . . . . . . . . . . . . $1,607,776
</TABLE>
<PAGE>
<TABLE>
FINANCIAL STATEMENTS
PAGE 5
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATED BALANCE SHEET
MARCH 31, 1997
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
ASSETS
ELECTRIC UTILITY PLANT:
Production . . . . . . . . . . . . . . . . . . . . $ 9,353,218
Transmission . . . . . . . . . . . . . . . . . . . 3,379,638
Distribution . . . . . . . . . . . . . . . . . . . 4,432,353
General (including mining assets and nuclear fuel) 1,506,921
Construction Work in Progress. . . . . . . . . . . 395,070
Total Electric Utility Plant . . . . . . . . . 19,067,200
Accumulated Depreciation and Amortization. . . . . 7,650,991
NET ELECTRIC UTILITY PLANT . . . . . . . . . . 11,416,209
OTHER PROPERTY AND INVESTMENTS . . . . . . . . . . . 917,497
CURRENT ASSETS:
Cash and Cash Equivalents. . . . . . . . . . . . . 86,083
Accounts Receivable (net). . . . . . . . . . . . . 577,077
Fuel . . . . . . . . . . . . . . . . . . . . . . . 215,067
Materials and Supplies . . . . . . . . . . . . . . 246,168
Accrued Utility Revenues . . . . . . . . . . . . . 153,941
Prepayments. . . . . . . . . . . . . . . . . . . . 129,444
TOTAL CURRENT ASSETS . . . . . . . . . . . . . 1,407,780
REGULATORY ASSETS. . . . . . . . . . . . . . . . . . 1,871,497
DEFERRED CHARGES . . . . . . . . . . . . . . . . . . 292,707
TOTAL . . . . . . . . . . . . . . . . $15,905,690
</TABLE>
<PAGE>
<TABLE>
FINANCIAL STATEMENTS
PAGE 6
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATED BALANCE SHEET
MARCH 31, 1997
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock - Par Value $6.50; Shares
Authorized - 300,000,000; Shares Issued -
197,709,992, of which 8,999,992 were held
in the treasury. . . . . . . . . . . . . . . . . $ 1,285,115
Paid-in Capital. . . . . . . . . . . . . . . . . . 1,731,695
Retained Earnings. . . . . . . . . . . . . . . . . 1,607,776
Total Common Shareholders' Equity. . . . . . . 4,624,586
Cumulative Preferred Stocks of Subsidiaries:
Not Subject to Mandatory Redemption. . . . . . . 46,933
Subject to Mandatory Redemption. . . . . . . . . 127,605
Long-term Debt . . . . . . . . . . . . . . . . . . 4,786,636
TOTAL CAPITALIZATION . . . . . . . . . . . . . 9,585,760
OTHER NONCURRENT LIABILITIES . . . . . . . . . . . . 1,065,046
CURRENT LIABILITIES:
Preferred Stock and Long-term Debt
Due Within One Year. . . . . . . . . . . . . . . 344,039
Short-term Debt. . . . . . . . . . . . . . . . . . 334,318
Accounts Payable . . . . . . . . . . . . . . . . . 158,749
Taxes Accrued. . . . . . . . . . . . . . . . . . . 476,480
Interest Accrued . . . . . . . . . . . . . . . . . 111,530
Obligations Under Capital Leases . . . . . . . . . 83,827
Other. . . . . . . . . . . . . . . . . . . . . . . 328,069
TOTAL CURRENT LIABILITIES. . . . . . . . . . . 1,837,012
DEFERRED INCOME TAXES. . . . . . . . . . . . . . . . 2,621,692
DEFERRED INVESTMENT TAX CREDITS. . . . . . . . . . . 398,168
DEFERRED GAIN ON SALE AND LEASEBACK -
ROCKPORT PLANT UNIT 2. . . . . . . . . . . . . . . 238,278
DEFERRED CREDITS . . . . . . . . . . . . . . . . . . 159,734
TOTAL . . . . . . . . . . . . . . . . $15,905,690
</TABLE>
<PAGE>
<TABLE>
FINANCIAL STATEMENTS
PAGE 7
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENT OF INCOME
TWELVE MONTHS ENDED MARCH 31, 1997
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
OPERATING REVENUES . . . . . . . . . . . . . $5,823,521
OPERATING EXPENSES:
Fuel and Purchased Power . . . . . . . . . 1,680,474
Other Operation. . . . . . . . . . . . . . 1,208,598
Maintenance. . . . . . . . . . . . . . . . 496,803
Depreciation and Amortization. . . . . . . 603,689
Taxes Other Than Federal Income Taxes. . . 497,555
Federal Income Taxes . . . . . . . . . . . 348,574
TOTAL OPERATING EXPENSES. . . . . . 4,835,693
OPERATING INCOME . . . . . . . . . . . . . . 987,828
NONOPERATING INCOME. . . . . . . . . . . . . 7,848
INCOME BEFORE INTEREST CHARGES AND
PREFERRED DIVIDENDS. . . . . . . . . . . . 995,676
INTEREST CHARGES . . . . . . . . . . . . . . 375,125
PREFERRED STOCK DIVIDEND REQUIREMENTS
OF SUBSIDIARIES. . . . . . . . . . . . . . 40,571
NET INCOME . . . . . . . . . . . . . . . . . $ 579,980
AVERAGE NUMBER OF SHARES OUTSTANDING . . . . 187,727
EARNINGS PER SHARE . . . . . . . . . . . . . $3.09
CASH DIVIDENDS PAID PER SHARE. . . . . . . . $2.40
</TABLE>
<PAGE>
<TABLE>
FINANCIAL STATEMENTS
PAGE 8
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED MARCH 31, 1997
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
BALANCE AT BEGINNING OF PERIOD . . . . . . . . . . . . . . . . . . . . $1,477,852
NET INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 579,980
DEDUCTIONS:
Cash Dividends Declared. . . . . . . . . . . . . . . . . . . . . . . 450,313
Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (257)
BALANCE AT END OF PERIOD . . . . . . . . . . . . . . . . . . . . . . . $1,607,776
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR1
<MULTIPLIER> 1,000
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 11,416,209
<OTHER-PROPERTY-AND-INVEST> 917,497
<TOTAL-CURRENT-ASSETS> 1,407,780
<TOTAL-DEFERRED-CHARGES> 292,707
<OTHER-ASSETS> 1,871,497
<TOTAL-ASSETS> 15,905,690
<COMMON> 1,285,115
<CAPITAL-SURPLUS-PAID-IN> 1,731,695
<RETAINED-EARNINGS> 1,607,776
<TOTAL-COMMON-STOCKHOLDERS-EQ> 4,624,586
127,605
46,933
<LONG-TERM-DEBT-NET> 4,786,636
<SHORT-TERM-NOTES> 74,046
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 260,272
<LONG-TERM-DEBT-CURRENT-PORT> 296,289
47,750
<CAPITAL-LEASE-OBLIGATIONS> 353,361
<LEASES-CURRENT> 83,827
<OTHER-ITEMS-CAPITAL-AND-LIAB> 5,204,385
<TOT-CAPITALIZATION-AND-LIAB> 15,905,690
<GROSS-OPERATING-REVENUE> 5,823,521
<INCOME-TAX-EXPENSE> 373,228
<OTHER-OPERATING-EXPENSES> 4,462,465
<TOTAL-OPERATING-EXPENSES> 4,835,693
<OPERATING-INCOME-LOSS> 987,828
<OTHER-INCOME-NET> 7,848
<INCOME-BEFORE-INTEREST-EXPEN> 995,676
<TOTAL-INTEREST-EXPENSE> 375,125
<NET-INCOME> 579,980
40,571 <F1>
<EARNINGS-AVAILABLE-FOR-COMM> 579,980
<COMMON-STOCK-DIVIDENDS> 450,313
<TOTAL-INTEREST-ON-BONDS> 243,432
<CASH-FLOW-OPERATIONS> 1,240,898
<EPS-PRIMARY> $3.09
<EPS-DILUTED> $3.09
<FN>
<F1> Represents preferred stock dividend requirements of subsidiaries;
deducted before computation of net income.
</FN>
</TABLE>
