<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U5S
ANNUAL REPORT
For the year ended December 31, 1997
Filed Pursuant to the Public Utility Holding Company Act of 1935
by
AMERICAN ELECTRIC POWER COMPANY, INC.
1 Riverside Plaza, Columbus, Ohio 43215
<PAGE>
AMERICAN ELECTRIC POWER COMPANY, INC.
FORM U5S - ANNUAL REPORT
For the Year Ended December 31, 1997
TABLE OF CONTENTS Page
ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF
DECEMBER 31, 1996. . . . . . . . . . . . . . . . . . . . . . 1-4
ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS. . . . . . . . . . . 5
ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM
SECURITIES . . . . . . . . . . . . . . . . . . . . . . . . . 5
ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES . 6-8
ITEM 5. INVESTMENTS IN SECURITIES OF NON-SYSTEM COMPANIES. . . . . . 9
ITEM 6. OFFICERS AND DIRECTORS
Part I. Names, principal business address and positions
held as of December 31, 1996 . . . . . . . . . . 10-20
Part II. Banking connections. . . . . . . . . . . . . . . 21
Part III. Compensation and other related information . . . 22-32
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS . . . . . . . . . . . . 33
ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS
Part I. Contracts for services or goods between system
companies. . . . . . . . . . . . . . . . . . . . 34
Part II. Contracts to purchase services or goods between
any system company and any affiliate . . . . . . 34
Part III. Employment of any person by any system company
for the performance on a continuing basis of
management services. . . . . . . . . . . . . . . 34
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES . . . . . 35
ITEM 10 FINANCIAL STATEMENTS AND EXHIBITS (Index). . . . . . . . . . 36
SIGNATURE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
<PAGE>
<TABLE>
ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1997.
<CAPTION> Issuer Owner's
Number of Common Percent of Book Book
Name of Company Shares Owned Voting Power Value (J) Value (J)
(1) (2) (3) (4) (5)
<S> <C> <C> <C> <C> (in thousands)
American Electric Power Company, Inc. (AEP) None None None None
AEP Communications, Inc. (AEPC) 100 Shares 100 $ 7,080 $ 7,080
AEP Communications, LLC (AEPCLLC) Uncertificated 100 10,964 10,964
AEP Resources Service Company (AEPRESC)(A) 110 Shares 100 1,564 1,564
AEP Energy Services International, Limited 1 Shares 100 - -
AEP Energy Services, Inc. (AEPES)(B) 100 Shares 100 (9,749) (9,749)
AEP Generating Company (AEGCo) 1,000 Shares 100 42,763 42,763
AEP Investments, Inc. (AEPINV) 100 Shares 100 6,592 6,592
AEP Power Marketing, Inc. 100 Shares 100 - -
AEP Resources, Inc. (AEPR) 100 Shares 100 33,438 33,438
AEP Resources Australia Pty., Ltd. (AEPRA) 2 Shares 100 - -
AEP Resources Australia Investments, Inc. 100 Shares 100 - -
AEP Resources Australia Ventures, Inc. 100 Shares 100 - -
AEP Resources Delaware, Inc. (AEPRD) 1,000 Shares 100 27,283 27,283
AEP Resources Limited (AEPRL) 1 Share 100 104 104
AEP Resources International, Ltd. (AEPRI) 1 Share 100 10,725 10,725
AEP Pushan Power, LDC (Pushan) 99 Shares 99 (C) 10,766 10,766
Nanyang General Light Electric Co., Ltd. (NGLE) (D) 69.3 (D) 13,605 13,605
AEP Resources Mauritius Company (Mauritius) 9,900 Shares 99 (C) 70 70
Total AEP Resources International, Ltd. 10,836 10,836
AEP Resources Project Management Company, Ltd. (AEPRPM) 1 Share 100 108 108
AEP Pushan Power, LDC (Pushan) 1 Share 1 (C) 109 109
Nanyang General Light Electric Co., Ltd. (NGLE) (D) 0.7 (D) 137 137
AEP Resources Mauritius Company (Mauritius) 100 Shares 1 (C) - -
Total AEP Resources Project Management Co., Ltd. 109 109
AEPR Global Investments B.V. (AEPRGI) 40 Shares 100 24 24
AEPR Global Holland Holding B.V. (AEPRGHH) 40 Shares 100 23 23
AEPR Global Ventures B.V. (AEPRGV) 40 Shares 100 82 82
Australian Energy International Pty. Ltd. 100 Shares 16 (E) - -
AEI (Loy Yang) Pty. Ltd. 1 Shares 100 - -
Yorkshire Power Group Limited 220,000,001 Shares 50 (F) 271,050 287,344
Yorkshire Holdings plc 50,000 Shares 100 - -
Yorkshire Electricity Group plc 159,270,953 Shares 100 - -
Yorkshire Power Finance Limited 1,000 Shares 100 - -
Total AEP Resources, Inc. 309,376 325,670
American Electric Power Service Corporation (AEPSC) 13,500 Shares 100 2,450 2,450<PAGE>
ITEM 1. (CONTINUED)
Issuer Owner's
</TABLE>
<TABLE>
<CAPTION>
Number of Common Percent of Book Book
Name of Company Shares Owned Voting Power Value (J) Value (J)
(1) (2) (3) (4) (5)
<S> <C> <C> <C> <C>
(in thousands)
Appalachian Power Company* (APCo) 13,499,500 Shares 98.6 1,081,050 1,102,090
Cedar Coal Co. (CeCCo) 2,000 Shares 100 1,795 1,795
Central Appalachian Coal Company** (CACCo) 3,000 Shares 100 249 249
Central Coal Company** (CCCo) 1,500 Shares 50 (G) 604 604
Central Operating Company (COpCo) 1,500 Shares 50 (G) 89 89
Southern Appalachian Coal Company** (SACCo) 6,950 Shares 100 7,976 7,976
West Virginia Power Company** (WVPCo) 100 Shares 100 240 230
Total Appalachian Power Company 10,953 10,943
Columbus Southern Power Company (CSPCo)* 16,410,426 Shares 100 751,309 751,309
Colomet, Inc.** (COLM) 1,500 Shares 100 2,755 2,755
Conesville Coal Preparation Company (CCPC) 100 Shares 100 1,320 1,320
Simco Inc.** (Simco) 90,000 Shares 100 491 491
Ohio Valley Electric Corporation (OVEC) 4,300 Shares 4.3 518 430
Total Columbus Southern Power Company 5,084 4,996
Franklin Real Estate Company (FRECo) 100 Shares 100 30 28
Indiana Franklin Realty, Inc. (IFRI) 10 Shares 100 1 1
Indiana Michigan Power Company* (I&M) 1,400,000 Shares 100 1,067,871 1,075,058
Blackhawk Coal Company** (BHCCo) 39,521 Shares 100 76,506 76,506
Price River Coal Company** (PRCCo) 1,091 Shares 100 27 27
Total Indiana Michigan Power Company 76,533 76,533
Kentucky Power Company (KEPCo) 1,009,000 Shares 100 257,276 260,062
Kingsport Power Company (KGPCo) 410,000 Shares 100 22,267 22,923
Ohio Power Company* (OPCo) 27,952,473 Shares 99.1 1,373,647 1,378,060
Cardinal Operating Company (CdOpCo) 250 Shares 50 (H) 110 110
Central Coal Company** (CCCo) 1,500 Shares 50 (G) 604 604
Central Ohio Coal Company (COCCo) 69,000 Shares 100 8 8
Central Operating Company (COpCo) 1,500 Shares 50 (G) 90 90
Southern Ohio Coal Company (SOCCo) 5,000 Shares 100 68,029 68,029
Windsor Coal Company (WCCo) 4,064 Shares 100 8,954 9,351
Total Ohio Power Company 77,795 78,192
</TABLE>
<PAGE>
<TABLE>
<PAGE>
ITEM 1. (CONTINUED)
<CAPTION>
Issuer Owner's
Number of Common Percent of Book Book
Name of Company Shares Owned Voting Power Value (J) Value (J)
(1) (2) (3) (4) (5)
<S> <C> <C> <C> <C>
(in thousands)
Ohio Valley Electric Corporation* (OVEC) 39,900 Shares 39.9 4,814 4,082
Indiana-Kentucky Electric Corporation (IKEC) 17,000 Shares 100 (I) 3,400 3,400
Wheeling Power Company (WPCo) 150,000 Shares 100 21,948 22,929
Equity in Subsidiaries - Unallocated 13,333 13,333
Total American Electric Power Company, Inc. 4,677,576 4,714,012
Total All Companies $5,196,392 $5,249,421
________________________________________________
New subsidiaries added during 1997 are:
Name of Company Date and Place of Organization Description of Business
AEP Communications, LLC. June 5, 1997 in State of Virginia Telecommunication, information
and other services
AEP Energy Services International, Limited January 24, 1997 in Cayman Islands Consulting and O&M services in
international energy projects
AEP Resources Australia Investments Inc. July 10, 1996 in State of Delaware Invest and participate in Austr-
alian energy projects
AEP Resources Australia Ventures, Inc. July 10, 1996 in State of Delaware Formed to own power projects
in Australia
AEP Resources Limited July 17, 1997 in Great Britain Invest in European
energy projects
AEPR Global Investments B.V. January 23, 1997 in Netherlands Invest in Australian power
projects
AEPR Global Holland Holding B.V. January 23, 1997 in Netherlands Invest in Australian
power projects
AEPR Global Ventures B.V. January 23, 1997 in Netherlands Invest in Australian
power projects
Australian Energy International Pty. Ltd. March 7, 1997 in Australia Invest on Australian
power projects
AEI (Loy Yang)Pty. Ltd. March 7, 1997 in Australia Formed to acquire power plant
<PAGE>
ITEM 1. (CONTINUED)
Yorkshire Power Group Limited July 19, 1996 in Great Britain Formed jointly to acquire York-
shire Electricity Group plc
Yorkshire Holdings plc February 14, 1997 in Great Britain Holding company set up to acquire
Yorkshire Electricity Group plc
Yorkshire Electricity Group plc April 1, 1989 in Great Britain, Electric distribution
Acquired April 1997
Yorkshire Power Finance Limited August 18, 1997 in Cayman Islands Provide financing for Yorkshire
Electricity Group plc
(A) Name changed from AEP Energy Services, Inc. on March 7, 1997, and from AEP Resources Engineering & Services on
September 17, 1997.
(B) Name changed from AEP Energy Solutions, Inc. on March 7, 1997.
(C) Owned 99% by AEP Resources International Ltd. and 1% AEP Resources Project Management Company Ltd.
(D) AEP Pushan Power, LDC owns 70%; the other 30% is owned by unaffiliated companies. The Company is a joint
venture company domiciled in the People's Republic of China. It has registered capital totaling Renminbi four
hundred seventy six million six hundred sixty seven thousand Yuan.
(E) AEP Resources Global Ventures B.V. owns 16% and the remaining 84% is owned an unaffiliated company.
(F) AEP Resources, Inc. owns 50% and the remaining 50% is owned by an unaffiliated company.
(G) Owned 50% by Appalachian Power Company and 50% by Ohio Power Company.
(H) Ohio Power Company owns 50% of the stock; the other 50% is owned by a corporation not affiliated with
American Electric Power Company, Inc.
(I) This Company is a wholly-owned subsidiary of Ohio Valley Electric Corporation, 44.2% of whose voting securities
are owned by the American Electric Power System, the balance by unaffiliated companies.
(J) Includes unsecured debt as follows: for AEPSC - $1,100,000, AEPCLLC - $150,000, BHCCo - $20,700,000, CdOpCo -
$110,000, Mauritius $409,000, and WCCo - $225,000.
*Exempt under Section 3(A) pursuant to Rule 2 thereof.
**Inactive.
***Exempt under Securities and Exchange Commission Release No. 35-24295.
All of the active subsidiaries of AEP are involved in the electric utility business in the United States with the
exceptions of AEPC, AEPCLLC, AEPRESC, AEP Energy Services International, Limited, AEPES, AEPINV, AEP Power Marketing,
Inc., AEPR, AEPRA, AEP Resources Australia Investments, Inc., AEP Resources Australia Ventures, Inc., AEPRD, AEPRL, AEPRI,
Pushan, NGLE, Mauritius, AEPRPM, AEPRGI, AEPRGHH, AEPRGV, Australian Energy International Pty. Ltd., AEI (Loy Yang) Pty.
Ltd., Yorkshire Power Group Limited, Yorkshire Holdings plc, Yorkshire Electricity Group plc and Yorkshire Power Finance
Limited. AEPRESC offers consulting services to unaffiliated entities in AEP and its subsidiaries' areas of expertise.
AEPINV is involved in the development of demand side management technologies. Yorkshire Power Group Limited and its
subsidiaries are involved in the electric utility business in the United Kingdom. The other listed subsidiaries are
pursuing opportunities in non-regulated electric and related activities.
</TABLE>
<PAGE>
ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS
Information concerning acquisitions or sales of utility assets by System
companies not reported in a certificate filed pursuant to Rule 24
are as follows:
NONE
<TABLE>
ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES
<CAPTION>
Name of Issuer and Authorization
Description of Issues Date and Form of Transactions Consideration or Exemption
(1) (2) (3) (4)
<C> <S> <S> <S>
(in thousands)
Appalachian Power Company:
First Mortgage Bonds:
6.35% Series Due 2000 2/19/97 - Public Offering 47,683 Rule 52
6.71% Series Due 2000 5/27/97 - Public Offering 47,683 Rule 52
Junior Subordinated
Deferrable Interest Debentures
8% Series B Due 2027 3/18/97 - Public Offering 87,892 Rule 52
Columbus Southern Power Company:
Senior Unsecured Notes Payable
6.85% Series Due 2005 10/03/97 - Public Offering 47,599 Rule 52
Junior Subordinated
Deferrable Interest Debentures
7.92% Series B Due 2027 3/05/97 - Public Offering 38,573 Rule 52
Indiana Michigan Power Company:
First Mortgage Bonds:
6.40% Series Due 2000 2/19/97 - Public Offering $47,728 Rule 52
<PAGE>
ITEM 3. (CONTINUED)
Name of Issuer and Authorization
Description of Issues Date and Form of Transactions Consideration or Exemption
(1) (2) (3) (4)
(in thousands)
Kentucky Power Company:
Senior Unsecured Notes Payable
6.91% Series Due 2007 10/01/97 - Public Offering 47,587 Rule 52
Ohio Power Company:
Senior Unsecured Notes Payable
6.73% Series Due 2004 9/30/97 - Public Offering 47,632 Rule 52
Junior Subordinated
Deferrable Interest Debentures
7.92% Series B Due 2027 3/18/97 - Public Offering 48,858 Rule 52
GUARANTEE:
At December 31, 1997, American Electric Power Company, Inc. had outstanding parental guaranties on behalf
of AEP Communications, Inc. with First Union National Bank of North Carolina. The net exposure under the
guaranties at December 31, 1997 was approximately $2,750,000. Exemption Rule 34 (a) (1).
</TABLE>
<TABLE>
ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES
<CAPTION>
Name of Company Extinguished (EXT)
Name of Issuer and Acquiring, Redeeming or or Held (H) for Authorization
Title of Issue Retiring Securities Consideration Further Disposition or Exemption
(1) (2) (3) (4) (5)
(in thousands)
<S> <C> <C> <C> <C>
AEP Resources, Inc.:
Revolving Credit Agreement
Libor Rate - Due 1999 AEPR $80,000 EXT Rule 42
American Electric Power Service Corp:
Mortgage Notes
9% Series D Due 1999 AEPSC 2,500 EXT Rule 42
9.60% Series E Due 2008 AEPSC 2,500 EXT Rule 42
Appalachian Power Company:
Cumulative Preferred Stock,
No Par Value
7.80% Series APCo 50,233 EXT Rule 42
4-1/2% Series APCo 72 EXT Rule 42
First Mortgage Bonds
9.35% Series Due 2021 APCo 43,250 EXT Rule 42
8.75% Series Due 2022 APCo 13,081 EXT Rule 42
Columbus Southern Power Company:
Cumulative Preferred Stock,
$100 Par Value
7.78% Series CSPCo 52,625 EXT Rule 42
First Mortgage Bonds
6-1/4% Series Due 1997 CSPCo 14,640 EXT Rule 42
ITEM 4. (CONTINUED)
Name of Company Extinguished (EXT)
Name of Issuer and Acquiring, Redeeming or or Held (H) for Authorization
Title of Issue Retiring Securities Consideration Further Disposition or Exemption
(1) (2) (3) (4) (5)
(in thousands)
Indiana Michigan Power Company:
Cumulative Preferred Stock,
$100 Par Value
4-1/8% Series I&M $ 27 EXT Rule 42
4.56% Series I&M 1,130 EXT Rule 42
4.12% Series I&M 12 EXT Rule 42
First Mortgage Bonds
8.75% Series Due 2022 I&M 50,000 EXT Rule 42
Ohio Power Company:
Cumulative Preferred Stock,
$100 Par Value
4-1/2% Series OPCo 23 EXT Rule 42
First Mortgage Bonds
6-1/2% Series Due 1997 OPCo 46,620 EXT Rule 42
8.75% Series Due 2022 OPCo 50,000 EXT Rule 42
Southern Ohio Coal Company:
Notes Payable
7.19% Due 1998 SOCCo 20,000 EXT Rule 42
</TABLE>
<PAGE>
ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES AS OF
DECEMBER 31, 1997.
<TABLE>
1. Aggregate amount of investments in persons operating in the retail service area of AEP or of its subsidiaries.
<CAPTION>
Aggregate Amount of Investments Number of
Name of in Persons (Entities), Operating in Persons Description of
Company Retail Service Area of Owner (Entities) Persons (Entities)
(1) (2) (3) (4)
(in thousands)
<S> <C> <C> <C>
APCo $ 710 8 Industrial Development Corporations
AEPCLLC 5,904 2 Personal Communications Services Provider
AEPINV 601 1 Economic Development Company
I&M 29 1 Economic Development Company
WPCo 13 1 Industrial Development Corporation
</TABLE>
<TABLE>
2. Securities owned not included in 1 above.
<CAPTION>
Name of Nature of Description Number Percent of Owner's
Company Name of Issuer Issuer's Business of Securities of Shares Voting Power Book Value
(1) (2) (3) (4) (5) (6) (7)
(in thousands)
<S> <C> <C> <C> <C> <C> <C>
AEPINV Intersource Research &
Technologies, Inc. Technology Development Common Stock 800,000 9.9 $11,500
Preferred Stock 95,000
AEPINV EnviroTech Investment Research &
Fund I Technology Development Limited Partner * 9.9 1,303
AEP Integrated Communica- Development of
tions System, Inc. Demand Side Management Common Stock 80,000 8.4 -
* Limited Partnership Interests
</TABLE>
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS OF AMERICAN ELECTRIC POWER SYSTEM
Part I. (1&2) As of December 31, 1996:
Officers and directors of American Electric Power Company,
Inc. are listed on page 10. Officers and directors of Ohio
Valley Electric Corporation and Indiana-Kentucky Electric
Corporation are listed on page 19. The officers and
directors of all other AEP System companies are located
in the table on pages 11 through 18.
LEGEND OF ABBREVIATIONS
CB Chairman of the Board
VCB Vice Chairman of the Board
D Director
CEO Chief Executive Officer
P President
COO Chief Operating Officer
EVP Executive Vice President
SVP Senior Vice President
VP Vice President
C Controller
S Secretary
T Treasurer
GC General Counsel
Address Codes
(a) 1 Riverside Plaza, Columbus, OH
(b) 40 Franklin Road, Roanoke, VA
(c) 215 N. Front Street, Columbus, OH
(d) One Summit Square, Fort Wayne, IN
(e) 1701 Central Avenue, Ashland, KY
(f) One Cook Place, Bridgman, MI
(g) One Memorial Drive, Lancaster, OH
(h) Dayuan Zhuan Village, Pushan Town, Nanyang City, People's
Republic of China
(k) Mary Street, P.O. Box 1043, George Town, Grand Cayman,
Cayman Islands
(l) Les Cascades Building, Edith Carell Street, Port Louis, Mauritius
(m) 1105 North Market Street, Wilmington, DE
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I as of December 31, 1997
The following are the abbreviations to be used for principal
business address and positions.
Principal Business Address Code
1 Riverside Plaza
Columbus, OH 43215 (a)
40 Franklin Road
Roanoke, VA 24022 (b)
215 N. Front Street
Columbus, OH 43215 (c)
One Summit Square
Fort Wayne, IN 46801 (d)
One Memorial Drive
Lancaster, OH 43130 (e)
Dayuan Zhuan Village
Pushan Town, Nanyang City
People's Republic of China (f)
Mary Street
George Town, Grand Cayman
Grand Cayman Island (g)
Les Cascades Building
Edith Carell Street
Port Louis, Mauritius (h)
1105 North Market Street
Wilmington, DE 19899 (i)
600 Bourke Street
Melbourne, Victoria 3000
Australia (j)
9 Cheapside, London, EC2V 6AD
Great Britain (k)
P.O. Box B
Brilliant, OH 43913 (l)
301 Cleveland Ave., SW
Canton, OH 44702 (m)
225 South 15th Street
Philadelphia, PA 19102 (n)
Wetherby Road, Scarcroft,Leeds
LS14 3HS Great Britain (o)
P.O. Box 309 George Town,
Grand Cayman, Cayman Islands
(p)
Herengracht 548,
1017 CG Amsterdam
The Netherlands (q)
Suite 400, Deseret Building
Salt Lake City, UT 84111 (r)
1701 Central Avenue
Ashland, KY 41101 (s)
301 Virginia Street East
Charleston, WV 25301 (t)
P.O. Box 751
Wheeling, WV 26003 (u)
P.O. Box 389
New Haven, WV 25265 (v)
P.O. Box 468
Piketon, Ohio 45661 (w)
1225 17th Street, Suite 500
Denver, CO 80202 (x)
Position Code
Director D
Chairman of the Board CB
Vice Chairman of the Board VCB
President P
Chief Executive Officer CEO
Chief Operating Officer COO
Executive Vice President EVP
Senior Vice President SVP
Vice President VP
Controller C
Secretary S
Treasurer T
General Counsel GC
Managing Director MD
Chief Financial Officer CFO
The officer's or director's principal business address is the same as indicated
in the Company heading unless another address is provided with the
individual's name.
American Electric Power Company, Inc.
Name and Principal Address(a) Position
Peter J. DeMaria D,C
John P. DesBarres D
32064 Pacifica Drive
Rancho Palos Verdes, CA 90275
E. Linn Draper, Jr. D,CB,P,CEO
Robert M. Duncan D
1397 Haddon Road
Columbus, OH 43209
Robert W. Fri D
6001 Overlea Road
Bethesda, MD 20816
Lester A Hudson, Jr. D
P.O. Box 8583
Greenville, SC 29604
Leonard J. Kujawa D
133 Peachtree St.,NE
Atlanta, GA 30303
Gerald P. Maloney D,VP,S
Angus E. Peyton D
P.O. Box 226
Charleston, WV 25321
Donald G. Smith D
P.O. Box 13948
Roanoke, VA 24038
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I (Continued)
American Electric Power Company, Inc.
(continued)
Name and Principal Address(a) Position
Linda Gillespie Stuntz D
1201 Pennsylvania Ave.,NW
Washington, DC 20004
Kathryn D. Sullivan D
795 Old Oak Trace
Columbus, OH 43235
Dr. Morris Tanenbaum D
74 Falmouth Street
Short Hills, NJ 07078
Armando A. Pena T
AEI (Loy Yang) Pty Ltd
Name and Principal Address(j) Position
Jeffrey James Bateson D
147 Argyle Street
Kowloon, Hong Kong
Donald Boyd (a) D
Paul Robert Rainey D,S
Mark Rhys D
10/F, Chi Who Commercial Blg
20 Saigon Street
Kowloon, Hong Kong
AEP Communications, Inc.
Name and Principal Address(a) Position
Donald M. Clements, Jr. D,P
Peter J. DeMaria D,VP,C
E. Linn Draper, Jr. D,CB,CEO
Henry Fayne D
William J. Lhota D,VP
Gerald P. Maloney D,VCB
James J. Markowsky D
David Mustine VP
Peter R. Thomas VP
Armando A. Pena T
John F. DiLorenzo, Jr. S
AEP Communications, LLC
Name and Principal Address(a) Position
Donald M. Clements, Jr. D,P
Armando A. Pena D,T
Peter R. Thomas D,VP
Jeffrey D. Cross S
<PAGE>
AEP Energy Services, Inc.
Name and Principal Address(a) Position
Paul D. Addis D,P
Peter J. DeMaria D,C
E. Linn Draper, Jr. D,CB,CEO
Henry Fayne D,VP
William J. Lhota D
Gerald P. Maloney D,VCB
James J. Markowsky D
J. C. Baker SVP
Steven Lewis SVP
5718 Westheimer
Houston, TX 77057
Eric J. van der Walde SVP
Bruce H. Braine VP
Joseph A. Curia, Jr. VP
David B. Dunn VP
Douglas K. Penrod VP
Glenn Riepl VP
George Rooney VP
Thomas J. Seeley VP
Armando A. Pena T
John F. DiLorenzo, Jr. S
AEP Energy Services International, Limited
Name and Principal Address(g) Position
Donald M. Clements, Jr. (a) D,P
Jeffrey D. Cross (a) D,S
David Mustine (a) D,VP
Armando A. Pena (a) D,T
AEP Generating Company
Name and Principal Address(a) Position
Peter J. DeMaria D,VP,C
E. Linn Draper, Jr. D,P,CEO
Henry Fayne D
John R. Jones D
William J. Lhota D
Gerald P. Maloney D,VP
James J. Markowsky D,VP
Armando A. Pena T
John F. DiLorenzo, Jr. S
AEP Investments, Inc.
Name and Principal Address(a) Position
Donald M. Clements, Jr. D,P
Peter J. DeMaria D,VP,C
E. Linn Draper, Jr. D,CB,CEO
Henry Fayne D
William J. Lhota D,VP
Gerald P. Maloney D,VCB
James J. Markowsky D
David Mustine SVP
Dennis A. Lantzy VP
Jeffrey D. Cross VP,GC
Armando A. Pena T
John F. DiLorenzo, Jr. S
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I (Continued)
AEP Power Marketing, Inc.
Name and Principal Address(a) Position
E. Linn Draper, Jr. CB,CEO
Gerald P. Maloney D,VP
Peter J. DeMaria C
Armando A. Pena T
John F. DiLorenzo, Jr. S
AEP Pushan Power, LDC
Name and Principal Address(g) Position
Donald M. Clements, Jr. (a) D,P
Jeffrey D. Cross (a) D
David Mustine (a) D
Armando A. Pena (a) D,VP,T
W.S. Walker & Co. S
AEP Resources, Inc.
Name and Principal Address(a) Position
Donald M. Clements, Jr. D,P
Peter J. DeMaria D,VP,C
E. Linn Draper, Jr. D,CB,CEO
Henry Fayne D
William J. Lhota D
Gerald P. Maloney D,VCB
James J. Markowsky D
Donald E. Boyd SVP
David Mustine SVP
John R. Jones VP
Dennis A. Lantzy VP
James H. Sweeney VP
Paul J. Wielgus VP
Jeffrey D. Cross VP,GC
Armando A. Pena T
John F. DiLorenzo, Jr. S
AEP Resources Australia Investments, Inc.
Name and Principal Address(a) Position
Donald M. Clements, Jr. D,P
Jeffrey D. Cross D,S
David Mustine D,VP
Armando A. Pena D,T
Peter J. DeMaria C
AEP Resources Australia Pty. Ltd.
Name and Principal Address(j) Position
Donald E. Boyd (a) D
Donald M. Clements, Jr.(a) D,CB
Jeffrey D. Cross (a) D,S
David Mustine (a) D
Armando A. Pena (a) D
Mark A. Snape D,S
100 Walker Street
North Sydney 2060
Australia
<PAGE>
AEP Resources Australia Ventures, Inc.
Name and Principal Address(a) Position
Donald M. Clements, Jr. D,P
Jeffrey D. Cross D,S
David Mustine D,VP
Armando A. Pena D,T
Peter J. DeMaria C
AEP Resources Delaware, Inc.
Name and Principal Address(i) Position
Donald M. Clements, Jr. (a) D,P
Jeffrey D. Cross (a) D,VP
David W. Dupert D
John A. Oscar, Jr. D,S
Armando A. Pena (a) D,T
AEP Resources International, Limited
Name and Principal Address(g) Position
Donald M. Clements, Jr. (a) D,P
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Henry Fayne (a) D
William J. Lhota (a) D
Gerald P. Maloney (a) D,VCB
James J. Markowsky (a) D
David Mustine (a) SVP
John R. Jones (a) VP
Jeffrey D. Cross (a) VP,GC
Dennis A. Lantzy (a) VP
Armando A. Pena (a) VP,T
John F. DiLorenzo, Jr. (a) S
AEP Resources Limited
Name and Principal Address(k) Position
Donald M. Clements, Jr. (a) D
Jeffrey D. Cross (a) D,S
David Mustine (a) D
Armando A. Pena (a) D,T
AEP Resources Mauritius Company
Name and Principal Address(h) Position
P.R. Sydney Bathfield D
Donald M. Clements, Jr.(a) D,P
Jeffrey D. Cross (a) D
David Mustine (a) D,VP
Armando A. Pena (a) D,T
Ashraf Ramtoola D
International Management
(Mauritius) Ltd. S
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I (Continued)
AEP Resources Project Management Company, Ltd.
Name and Principal Address(g) Position
Donald M. Clements, Jr. (a) D,P
Jeffrey D. Cross (a) D
David Mustine (a) D,VP
Armando A. Pena (a) D,T
W.S. Walker & Company S
AEP Resources Service Company
Name and Principal Address(a) Position
Donald M. Clements, Jr. D,P
Peter J. DeMaria D,VP,C
E. Linn Draper, Jr. D,CB,CEO
Henry Fayne D
William J. Lhota D
Gerald P. Maloney D,VCB
James J. Markowsky D
Donald E. Boyd SVP
David Mustine SVP
Jeffrey D. Cross VP,GC
Dennis A. Lantzy VP
Armando A. Pena T
John F. DiLorenzo, Jr. S
AEPR Global Holland Holding B.V.
Name and Principal Address(q) Position
AEP Resources, Inc. (a) MD
AEPR Global Investments B.V.
Name and Principal Address(q) Position
Donald M. Clements, Jr. (a) MD
Jeffrey D. Cross (a) MD
David Mustine (a) MD
Armando A. Pena (a) MD
Frans van der Meij, RA MD
Herengracht 548
1000 AZ Amsterdam
The Netherlands
Frank Marie Lhoest MD
Herengracht 548
1000 AZ Amsterdam
The Netherlands
AEPR Global Ventures B.V.
Name and Principal Address(q) Position
Donald M. Clements, Jr. (a) MD
Jeffrey D. Cross (a) MD
David Mustine (a) MD
Armando A. Pena (a) MD
Frans van der Meij, RA MD
Herengracht 548
1000 AZ Amsterdam
The Netherlands
Frank Marie Lhoest MD
Herengracht 548
1000 AZ Amsterdam
The Netherlands
American Electric Power Service Corporation
Name and Principal Address(a) Position
Paul D. Addis D,EVP
Donald M. Clements, Jr. D,EVP
Peter J. DeMaria D,EVP
E. Linn Draper, Jr. D,CB,P,CEO
Charles A. Ebetino,Jr.(e) D,SVP
Henry Fayne D,SVP
Luke M. Feck D,SVP
Eugene E. Fitzpatrick D,EVP
One Cook Place
Bridgman, MI 49106
John R. Jones D,SVP
William J. Lhota D,EVP
R. M. Maliszewski D,SVP
Gerald P. Maloney D,EVP
James J. Markowsky D,EVP
Michael F. Moore D,SVP
Armando A. Pena D,SVP,T
Rodney B. Plimpton D,SVP
Andrew P. Varley D,SVP
Joseph H. Vipperman D,EVP
J. C. Baker VP
Bruce M. Barber VP
Bruce A. Beam VP
801 Pennsylvania Ave.
Washington DC 20004
David H. Crabtree VP
John F. DiLorenzo, Jr. VP,S
Carl A. Erikson VP
Dale E. Heydlauff VP
Marshall O. Julien VP
W. Robert Kelley VP
V. A. Lepore VP
Hugh H. Lucas (e) VP
Thomas R. McCaffrey VP
J. K. McWilliams VP
R. E. Munczinski VP
Patrick M. O'Brien (e) VP
Ron E. Prater VP
Bruce A. Renz VP
William L. Scott VP
Peter Splawnyk VP
Joseph A. Valentine VP
3455 Mill Run Drive
Hilliard, OH 43026
Leonard V. Assante C
Appalachian Power Company
Name and Principal Address(b) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Henry Fayne (a) D
William J. Lhota (a) D,P,COO
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D,VP
Joseph H. Vipperman (a) D,VP
R. D. Carson, Jr. VP
Dana E. Waldo (t) VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I (Continued)
Australian Energy International Pty Ltd
Name and Principal Address(j) Position
Jeffrey James Bateson D
147 Argyle Street
Kowloon, Hong Kong
Donald Boyd (a) D
Paul Robert Rainey D,S
Mark Rhys D
10/F,Chi Who Commercial Blg.
20 Saigon Street
Kowloon, Hong Kong
Mark Snape D
100 Walker St
North Sydney 2060, Australia
Blackhawk Coal Company
Name and Principal Address(r) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino,Jr.(e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Cardinal Operating Company
Name and Principal Address(l) Position
Anthony J. Ahern D
6677 Busch Blvd.
Columbus, OH 43226
Richard K. Byrne D,VP
6677 Busch Blvd.
Columbus, OH 43226
E. Linn Draper, Jr. (a) D,P
John R. Jones (a) D,VP
William J. Lhota (a) D,VP
R. M. Maliszewski (a) D
Steven K. Nelson D
P.O. Box 280
Coshocton, OH 43812
James J. Markowsky (a) D,VP
Samuel P. Riggle, Jr. D,VP
6060 State Route 83
Millersburg, OH 44654
R. Dane Swinehart D,VP
P.O. Box 250
Lancaster, OH 43130
Peter J. DeMaria (a) C
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Cedar Coal Co.
Name and Principal Address(b) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetineo, Jr.(e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr. (a) S
Central Appalachian Coal Company
Name and Principal Address(b) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino, Jr. (e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando, A. Pena (a) T
John F. DiLorenzo, Jr. (a) S
Central Coal Company
Name and Principal Address(b) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr.(a) D,CB,CEO
Charles A. Ebetino, Jr. (e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr. (a) S
Central Ohio Coal Company
Name and Principal Address(m) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino, Jr. (e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr. (a) S
Central Operating Company
Name and Principal Address(v) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,P,CEO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Colomet, Inc.
Name and Principal Address(c) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,P,CEO
William J. Lhota (a) D,VP
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D,VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I (Continued)
Columbus Southern Power Company
Name and Principal Address(c) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Henry Fayne (a) D
William J. Lhota (a) D,P,COO
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D,VP
Joseph H. Vipperman (a) D,VP
Marsha P. Ryan (a) VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Conesville Coal Preparation Company
Name and Principal Address(c) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino,Jr.(e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Franklin Real Estate Company
Name and Principal Address(n) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,P,CEO
William J. Lhota (a) D,VP
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D,VP
Bruce A. Renz (a) VP
Joseph H. Vipperman (a) VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Indiana Franklin Realty, Inc.
Name and Principal Address(d) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,P,CEO
William J. Lhota (a) D,VP
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D,VP
Bruce A. Renz (a) VP
Joseph H. Vipperman (a) VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Indiana-Kentucky Electric Corporation
Name and Principal Address(w) Position
C. R. Boyle, III (d) D
W. N. D'Onofrio (a) D
E. Linn Draper, Jr. (a) D,P
W. R. Holland D
76 South Main Street
Akron, OH 44308
J. Gordon Hurst D
20 NW Fourth Street
Evansville, IN 47741
Ronald G. Reherman D
20 NW Fourth Street
Evansville, IN 47741
Peter J. Skrgic D
800 Cabin Hill Drive
Greensburg, PA 15601
David L. Hart (a) VP
David E. Jones VP
Gerald P. Maloney (a) VP
John D. Brodt S,T
Indiana Michigan Power Company
Name and Principal Address(d) Position
Karl G. Boyd D
C. R. Boyle, III D,VP
G. A. Clark D
Peter J. DeMaria (a) D,VP,C
W. N. D'Onofrio (a) D
E. Linn Draper, Jr. (a) D,CB,CEO
William J. Lhota (a) D,P,COO
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D,VP
D. B. Synowiec D
2791 N. U.S. Highway 231
Rockport, IN 46735
Joseph H. Vipperman (a) D,VP
W. E. Walters D
100 E. Wayne Steet
South Bend, IN 46601 D
E. H. Wittkamper D
A. A. Blind VP
One Cook Place
Bridgman, MI 49106
Eugene E. Fitzpatrick VP
One Cook Place
Bridgman, MI 49106
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Kentucky Power Company
Name and Principal Address(s) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
William J. Lhota (a) D,P,COO
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D,VP
Joseph H. Vipperman (a) D,VP
T. C. Mosher VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Kingsport Power Company
Name and Principal Address(b) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Henry Fayne (a) D
William J. Lhota (a) D,P,COO
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Joseph H. Vipperman (a) D,VP
R. D. Carson VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I (Continued)
Nanyang General Light Electric Co., Ltd.
Name and Principal Address(f) Position
Donald E. Boyd (a) D
Donald M. Clements,Jr.(a) D,CB
Jeffrey D. Cross (a) D,S
Bernard Hu D
2648 Durfee Ave., #B
El Monte, CA 91732
Dennis Lantzy (a) D
David Mustine (a) D
Armando A. Pena (a) D
Lu Ming Tao D
Xu Xinglong D,VCB
Hao Zhengshan D
Ohio Power Company
Name and Principal Address(m) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Henry Fayne (a) D
William J. Lhota (a) D,P,COO
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D,VP
Joseph H. Vipperman (a) D,VP
Marsha P. Ryan (a) VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Ohio Valley Electric Corporation
Name and Principal Address(w) Position
George W. Basinger D
220 West Main Street
Louisville, KY 40202
E. Linn Draper, Jr. (a) D,P
Murray R. Edelman D
6200 Oak Tree Blvd.
Independence, OH 44313
Donald R. Feenstra D
800 Cabin Hill Drive
Greensburg, PA 15601
Allen M. Hill D
1065 Woodman Drive
Dayton, OH 45432
W. R. Holland D
76 South Main Street
Akron, OH 44308
John R. Jones (a) D
William J. Lhota (a) D
James J. Markowsky (a) D
Alan J. Noia D
10435 Downsville Pike
Hagerstown, MD 21740
J. H. Randolph D
139 East Fourth Street
Cincinnati, OH 45202
Ronald G. Reherman D
20 NW Fourth Street
Evansville, IN 47741
Peter J. Skrgic D
800 Cabin Hill Drive
Greensburg, PA 15601
<PAGE>
Michael R. Whitley D
One Quality Street
Lexington, KY 40507
David L. Hart (a) VP
David E. Jones VP
Gerald P. Maloney (a) VP
John D. Brodt S,T
Price River Coal Company, Inc.
Name and Principal Address(d) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino,Jr.(e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Simco Inc.
Name and Principal Address(c) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino,Jr.(e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Southern Appalachian Coal Company
Name and Principal Address(b) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino,Jr.(e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Southern Ohio Coal Company
Name and Principal Address(m) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino,Jr.(a) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Lance G. Sogan VP
P.O. BOX 490
Athens, OH 45701
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I (Continued)
West Virginia Power Company
Name and Principal Address(t) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,P,CEO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Wheeling Power Company
Name and Principal Address(u) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
William J. Lhota (a) D,P,COO
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Joseph H. Vipperman (a) D,VP
Dana E. Waldo (t) VP
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Windsor Coal Company
Name and Principal Address(m) Position
Peter J. DeMaria (a) D,VP,C
E. Linn Draper, Jr. (a) D,CB,CEO
Charles A. Ebetino,Jr.(e) D,P,COO
William J. Lhota (a) D
Gerald P. Maloney (a) D,VP
James J. Markowsky (a) D
Armando A. Pena (a) T
John F. DiLorenzo, Jr.(a) S
Yorkshire Electricity Group plc
Name and Principal Address(o) Position
Wayne H. Brunetti (x) D,VCB
Donald M. Clements,Jr.(a) D
E. Linn Draper, Jr. (a) D,CB
Graham J. Hall D
Richard C. Kelly (x) D
Teresa S. Madden (x) D
Armando A. Pena (a) D
Roger Dickinson S
Yorkshire Holdings plc
Name and Principal Address(o) Position
Wayne H. Brunetti (x) D,VCB
Donald M. Clements,Jr.(a) D
E. Linn Draper, Jr. (a) D,CB
Richard C. Kelly (x) D
Teresa S. Madden (x) D
Armando A. Pena (a) D
Jeffrey D. Cross (a) S
Yorkshire Power Finance Limited
Name and Principal Address(p) Position
Roger Dickinson (o) D
Andrew G. Donnelly (o) D
Graham J. Hall (o) D
Linda Martin S
Yorkshire Power Group Limited
Name and Principal Address(o) Position
Wayne H. Brunetti (x) D,VCB
Donald M. Clements,Jr.(a) D
E. Linn Draper, Jr. (a) D,CB
Richard C. Kelly (x) D
Teresa S. Madden (x) D
Armando A. Pena (a) D,CFO
Jeffrey D. Cross (a) S
<PAGE>
ITEM 6. (CONTINUED)
Part II. Each officer and director with a financial connection within the
provisions of Section 17(c) of the Act are as follows:
Position
Name and Location Held in Applicable
Name of Officer of Financial Financial Exemption
or Director Institution Institution Rule
(1) (2) (3) (4)
Robert M. Duncan First Federal Savings and
Loan Association
Newark, Ohio Director 70(a)
L.A. Hudson, Jr. American National Bankshares, Inc.
Danville, Virginia Director 70(a)
American National Bank & Trust Co.
Danville, Virginia Director 70(a)
W.J. Lhota Huntington Bancshares, Inc.
Columbus, Ohio Director 70(c),(f)
A.E. Peyton One Valley Bank, N.A.
Charleston, West Virginia Director 70(a)
One Valley Bancorp of
West Virginia, Inc.
Charleston, West Virginia Director 70(a)
Samuel P. CSB Bancorp, Inc.
Riggle, Jr. Millersburg, Ohio Director 70(c),(f)
Commercial & Saving Bank
Millersburg, Ohio Director 70(c),(f)
Donald G. Smith First Union National Bank
of Virginia
Roanoke, Virginia Director 70(a)
R.D. Swinehart Standing Stone National Bank
Lancaster, Ohio Director 70(c),(f)
<PAGE>
ITEM 6. (continued)
Part III. The disclosures made in the System companies' most recent
proxy statement and annual report on Form 10-K with
respect to items (a) through (f) follow:
(a) COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS
Executive Compensation
The following table shows for 1997, 1996 and 1995 the compensation
earned by the chief executive officer and the four other most
highly compensated executive officers (as defined by regulations of
the Securities and Exchange Commission) of the AEP System at
December 31, 1997.
Summary Compensation Table
Long-Term
Annual Compensation Compensation All Other
Salary Bonus Payouts Compensation
Name Year ($) ($)(1) LTIP Payouts
($)(1) ($)(2)
E. Linn Draper, Jr. 1997 720,000 327,744 951,132 31,620
1996 720,000 281,664 675,903 31,990
1995 685,000 236,325 334,851 30,790
Peter J. DeMaria 1997 385,000 153,345 391,793 21,570
1996 360,000 140,832 290,825 21,190
1995 330,000 113,850 143,829 20,050
G. P. Maloney 1997 385,000 153,345 391,793 21,570
1996 360,000 140,832 286,288 21,190
1995 330,000 113,850 141,582 20,060
William J. Lhota 1997 355,000 141,396 364,436 20,570
1996 320,000 125,184 263,114 19,690
1995 300,000 103,500 132,592 19,140
James J. Markowsky 1997 325,000 129,477 338,382 18,020
1996 303,000 118,534 254,535 19,480
1995 285,000 98,325 126,599 17,515
<PAGE>
Notes to Summary Compensation Table
(1) Amounts in the "Bonus" column reflect payments under the Senior Officer
Annual Incentive Compensation Plan (and predecessor Management
Incentive Compensation Plan) for performance measured for
each of the years ended December 31, 1995, 1996 and 1997. Payments are
made in March of the subsequent year. Amounts for 1997 are estimates
but should not change significantly.
Amounts in the "Long-Term Compensation" column reflect performance
share unit targets earned under the Performance Share Incentive Plan
(which became effective January 1, 1994) for the two-, three- and
three-year performance periods ending December 31, 1995, 1996 and 1997,
respectively. The two-year performance period was a transition
performance period.
(2) For 1997, includes (i) employer matching contributions under the AEP
System Employees Savings Plan: Dr. Draper, $3,400; Mr. DeMaria, $3,306;
Mr. Maloney, $4,800; Mr. Lhota, $4,800; and Dr. Markowsky, $3,250; (ii)
employer matching contributions under the AEP System Supplemental Savings
Plan, a non-qualified plan designed to supplement the AEP Savings Plan:
Dr. Draper, $18,200; Mr. DeMaria, $8,244; Mr. Maloney, $6,750;
Mr. Lhota, $5,850; and Dr. Markowsky, $6,500; and (iii) subsidiary
companies director fees: Dr. Draper and Messrs. DeMaria and Maloney,
$10,020; Mr. Lhota, $9,920; and Dr. Markowsky, $8,270.
Compensation of Directors
Annual Retainers and Meeting Fees. Directors who are officers
of AEP or employees of any of its subsidiaries do not receive any
compensation, other than their regular salaries and the accident
insurance coverage described below, for attending meetings of AEP's
Board of Directors. The other members of the Board receive an
annual retainer of $23,000 for their services, an additional annual
retainer of $3,000 for each Committee that they chair, a fee of
$1,000 for each meeting of the Board and of any Committee that they
attend (except a meeting of the Executive Committee held on the
same day as a Board meeting), and a fee of $1,000 per day for any
inspection trip or conference (except a trip or conference on the
same day as a Board or Committee meeting).
Deferred Compensation and Stock Plan. The Deferred
Compensation and Stock Plan for Non-Employee Directors permits non-employee
directors to choose to receive up to 100 percent of their
annual Board retainer in AEP Shares and/or units that are
equivalent in value to AEP Shares ("Stock Units), deferring receipt
by the non-employee director until termination of service or for a
period that results in payment commencing not later than five years
thereafter. AEP Shares are distributed and/or Stock Units are
credited to directors, as the case may be, when the retainer is
payable, and are based on the closing price of the AEP Shares on
the payment date. Amounts equivalent to cash dividends on the
Stock Units accrue as additional Stock Units. Payment of Stock
Units to a director from deferrals of the retainer and dividend
credits is made in cash or AEP Shares, or a combination of both, as
elected by the director.
<PAGE>
Stock Unit Accumulation Plan. The Stock Unit Accumulation
Plan for Non-Employee Directors awards 300 Stock Units to each non-
employee director as of the first day of the month in which the
non-employee director becomes a member of the Board, and annually
thereafter, up to a maximum of 3,000 Stock Units for each non-employee
director. Amounts equivalent to cash dividends on the
Stock Units accrue as additional Stock Units. Stock Units credited
to a non-employee director's account as a result of the annual
awards and dividend credits are forfeitable on a pro rata basis for
each full month that service as a director is less than 60 months.
Stock Units are paid to the director in cash upon termination of
service unless the director has elected to defer payment for a
period that results in payment commencing not later than five years
thereafter.
Insurance. AEP maintains a group 24-hour accident insurance
policy to provide a $1,000,000 accidental death benefit for each
director (three-year premium was $15,750). The current policy will
expire on September 1, 2000, and AEP expects to renew the coverage.
In addition, AEP pays each director (excluding officers of AEP or
employees of any of its subsidiaries) an amount to provide for the
federal and state income taxes incurred in connection with the
maintenance of this coverage (approximately $350 annually).
Directors of APCo, I&M and OPCo receive a fee of $100 for each
meeting of the Board of Directors attended in addition to their
salaries.
<PAGE>
(b) OWNERSHIP OF SECURITIES
The following table sets forth the beneficial ownership of AEP
Shares and stock-based units as of January 1, 1998 for all
directors as of the date of this Joint Proxy Statement/Prospectus,
all nominees to the Board of Directors, each of the persons named
in the Summary Compensation Table and all directors and executive
officers as a group. Unless otherwise noted, each person had sole
voting and investment power over the number of AEP Shares and
stock-based units of AEP set forth across from his or her name.
Fractions of shares and units have been rounded to the nearest
whole number.
SHARES OF AEP
COMMON STOCK
BENEFICIALLY STOCK
NAME DIRECTOR OF OWNED (a) UNITS(a) TOTAL
K.G. Boyd I&M 1,534(b) 81 1,615
C.R. Boyle,III I&M 3,702(b) 745 4,447
G.A. Clark I&M 1,066(b) 106 1,172
P.J. DeMaria AEP,APCo,I&M,OPCo 7,754(b)(c)(d)(e) 15,932 23,686
J.P. DesBarres AEP 5,000(d) 312 5,312
E.L. Draper,Jr.AEP,APCo,I&M,OPCo 7,373(b)(d) 62,857 70,230
R.M. Duncan AEP 2,121 3,169 5,290
H.W. Fayne APCo, OPCo 4,318(b)(d) 8,745 13,063
R.W. Fri AEP 1,000 937 1,937
L.A. Hudson,Jr.AEP 1,853(e) 3,169 5,022
J.A. Kobyra I&M 3,188(b)(d) 520 3,708
L. J. Kujawa AEP 300 697 997
W. J. Lhota APCo,I&M,OPCo 15,056(b)(c)(d) 14,827 29,883
G. P. Maloney AEP,APCo,I&M,OPCo 5,803(b)(c)(d) 12,715 18,518
J. J. MarkowskyAPCo,I&M,OPCo 5,126(b)(e) 12,417 17,543
A. E. Peyton AEP 4,819(f) 3,549 8,368
D. G. Smith AEP 2,000 1,258 3,258
L. G. Stuntz AEP 1,500(d) 1,774 3,274
K.D. Sullivan AEP - 304 304
M. Tanenbaum AEP 1,433 2,839 4,272
D. B. Synowiec I&M 993(b) 124 1,117
J. H. Vipperman APCo, I&M, OPCo 5,837(b)(d) 7,676 13,513
W. E. Walters I&M 5,655(b) 317 5,972
E. H. Wittkamper I&M 2,983(b) 315 3,298
All directors & executive
officers of AEP
as a group (15 persons) 146,369(c)(g) 136,756 283,125
All directors & executive
officers of APCo as a
group (7 persons) 136,498(d)(g) 135,169 271,667
All directors & executive
officers of I&M as a
group (13 persons) 151,301(d)(g) 128,632 279,933
All directors & executive
officers of OPCo as a
group (7 persons) 136,498(d)(g) 135,169 271,667
<PAGE>
<PAGE>
Notes on Stock Ownership
(a) This column includes amounts deferred in stock units and held under the
Stock Unit Accumulation Plan for Non-Employee Directors, Deferred
Compensation and Stock Plan for Non-Employee Directors, Management
Incentive Compensation Plan, Senior Officer Annual Incentive Compensation
Plan and Performance Share Incentive Plan. Certain of these stock units
are subject to forfeiture based on service as a director or length of
employment.
(b) Includes the following numbers of share equivalents held in the AEP
Employees Savings Plan over which such persons have sole voting power, but the
investment/disposition power is subject to the terms of the Savings
Plan:
AEP EMPLOYEES
SAVINGS PLAN
NAME (Share Equivalents)
Mr. Boyd 1,524
Mr. Boyle 3,702
Mr. Clark 1,066
Mr. DeMaria 3,187
Dr. Draper 2,716
Mr. Fayne 3,838
Mr. Kobyra 2,380
Mr. Lhota 12,876
Mr. Maloney 3,436
Dr. Markowsky 5,074
Mr. Synowiec 993
Mr. Vipperman 5,142
Mr. Walters 5,655
Mr. Wittkamper 1,653
All directors and executive
officers of AEP as a group 27,289
All directors and executive
officers of APCo as a group 36,269
All directors and executive
officers of I&M as a group 49,404
All directors and executive
officers of OPCo as a group 36,269
(c) Does not include, for Messrs.. DeMaria, Lhota and Maloney, 85,231
shares in the American Electric Power System Educational Trust Fund over
which Messrs. DeMaria, Lhota and Maloney share voting and investment power
as trustees (they disclaim beneficial ownership). The amount of shares
shown for all directors and executive officers as a group includes these
shares.
(d) Includes the following numbers of shares held in joint tenancy with a
family member: Mr. DeMaria, 462; Mr. DesBarres, 5,000; Dr. Draper, 2,200;
Mr. Fayne, 480; Mr. Kobyra, 808; Mr. Lhota, 2,180; Mr. Maloney, 2,367;
Ms. Stuntz, 300; and Mr. Vipperman, 64 shares.
(e) Includes the following numbers of shares held by family members over
which beneficial ownership is disclaimed: Mr. DeMaria, 3,192; Mr. Hudson,
750; and Dr. Markowsky, 19.
(f) Includes 1,500 shares over which Mr. Peyton shares voting and
investment power which are held by trusts of which he is a trustee, but he
disclaims beneficial ownership of 1,000 of such shares.
(g) Represents less than 1% of the total number of shares outstanding.
___________
Section 16(a) Beneficial Ownership Reporting Compliance
Section 16(a) of the Exchange Act and Section 17(a) of the 1935 Act
require AEP's officers and directors to file initial reports of
ownership and reports of changes in ownership of AEP Shares and other
securities of AEP and its subsidiaries with the SEC and NYSE. Officers
and directors are required by SEC regulations to furnish AEP
copies of all reports they file. Based solely on AEP's review of the
copies of such reports received and written representations from certain
reporting persons, AEP notes that during 1997 Angus E. Peyton, a director,
did not timely report the acquisition of 354 AEP Shares occurring in April
1997. He reported it in Feb ruary 1998.
(c) CONTRACTS AND TRANSACTIONS WITH SYSTEM COMPANIES
None
(d) INDEBTEDNESS TO SYSTEM COMPANIES
None
<PAGE>
(e) PARTICIPATION IN BONUS AND PROFIT SHARING ARRANGEMENTS AND
OTHER BENEFITS
Long-Term Incentive Plans Awards In 1997
Each of the awards set forth below establishes performance share
unit targets, which represent units equivalent to shares of AEP
Common Stock, pursuant to AEP's Performance Share Incentive Plan.
Since it is not possible to predict future dividends and the price
of AEP Shares, credits of performance share units in amounts equal
to the dividends that would have been paid if the performance share
unit targets were established in the form of shares of Common Stock
are not included in the table.
The ability to earn performance share unit targets is tied to
achieving specified levels of total shareholder return ("TSR")
relative to the S&P Electric Utility Index. Notwithstanding AEP's
TSR ranking, no performance share unit targets are earned unless
AEP shareholders realize a positive TSR over the relevant
three-year performance period. The Human Resources Committee may,
at its discretion, reduce the number of performance share unit
targets otherwise earned. In accordance with the performance goals
established for the periods set forth below, the threshold, target
and maximum awards are equal to 25%, 100% and 200%, respectively,
of the performance share unit targets. No payment will be made for
performance below the threshold.
Payments of earned awards are deferred in the form of restricted
stock units (equivalent to shares of AEP Common Stock) until the
officer has met the equivalent stock ownership target discussed in
the Human Resources Committee Report. Once officers meet and
maintain their respective targets, they may elect either to
continue to defer or to receive further earned awards in cash
and/or AEP Common Stock.
<TABLE>
<CAPTION>
Estimated Future Payouts of
Performance Performance Share Units Under
Number of Period Until Non-Stock Price-Based Plan
Performance Maturation Threshold Target Maximum
Name Share Units or Payout (#) (#) (#)
<S> <C> <C> <C> <C> <C>
E. L. Draper, Jr. 7,111 1997-1999 1,778 7,111 14,222
P. J. DeMaria 3,327 1997-1999 832 3,327 6,654
G. P. Maloney 3,327 1997-1999 832 3,327 6,654
W. J. Lhota 3,068 1997-1999 767 3,068 6,136
J. J. Markowsky 2,809 1997-1999 702 2,809 5,618
</TABLE>
<PAGE>
Retirement Benefits
The American Electric Power System Retirement Plan provides
pensions for all employees of AEP System companies (except for
employees covered by certain collective bargaining agreements),
including the executive officers of AEP. The Retirement Plan is a
noncontributory defined benefit plan.
The following table shows the approximate annual annuities under
the Retirement Plan that would be payable to employees in certain
higher salary classifications, assuming retirement at age 65 after
various periods of service.
<TABLE>
<CAPTION>
Pension Plan Table
<S> <C> <C> <C> <C> <C> <C> <C>
Highest Average Years of Accredited Service
Annual Earnings 15 20 25 30 35 40 45
$ 400,000 $ 93,660 $124,880 $156,100 $187,320 $218,500 $245,140 $271,740
500,000 117,660 156,880 196,100 235,320 274,540 307,790 341,040
600,000 141,660 188,880 236,100 283,320 330,540 370,440 410,340
700,000 165,660 220,880 276,100 331,320 386,540 433,090 479,640
900,000 213,660 284,880 356,100 427,320 498,540 558,390 618,240
1,100,000 261,660 348,880 436,100 523,320 610,540 683,390 756,840
1,300,000 309,660 412,880 516,100 619,320 722,540 808,990 895,440
</TABLE>
The amounts shown in the table are the straight life annuities
payable under the Retirement Plan without reduction for the joint
and survivor annuity. Retirement benefits listed in the table are
not subject to any deduction for Social Security or other offset
amounts. The retirement annuity is reduced 3% per year in the case
of retirement between ages 60 and 62 and further reduced 6% per
year in the case of retirement between ages 55 and 60. If an
employee retires after age 62, there is no reduction in the
retirement annuity.
AEP maintains a supplemental retirement plan which provides for the
payment of benefits that are not payable under the Retirement Plan
due primarily to limitations imposed by Federal tax law on benefits
paid by qualified plans. The table includes supplemental retirement
benefits.
Compensation upon which retirement benefits are based, for the
executive officers named in the Summary Compensation Table above,
consists of the average of the 36 consecutive months of the
officer's highest aggregate salary and Senior Officer Annual
Incentive Compensation Plan (and predecessor Management Incentive
Compensation Plan) awards, shown in the "Salary" and "Bonus"
columns, respectively, of the Summary Compensation Table, out of
the officer's most recent 10 years of service. As of December 31,
1997, the number of full years of service applicable for retirement
benefit calculation purposes for such officers were as follows:
Dr. Draper, five years; Mr. DeMaria, 38 years; Mr. Maloney,
42 years; Mr. Lhota, 33 years; and Dr. Markowsky, 26 years.
Dr. Draper has a contract with AEP and AEP Service Corporation
which provides him with a supplemental retirement annuity that
credits him with 24 years of service in addition to his years of
service credited under the Retirement Plan less his actual pension
entitlement under the Retirement Plan and any pension entitlement
from the Gulf States Utilities Company Trusteed Retirement Plan, a
plan sponsored by his prior employer.
Fourteen AEP System employees (including Messrs. DeMaria, Maloney
and Lhota and Dr. Markowsky) whose pensions may be adversely
affected by amendments to the Retirement Plan made as a result of
the Tax Reform Act of 1986 are eligible for certain supplemental
retirement benefits. Such payments, if any, will be equal to any
reduction occurring because of such amendments. Assuming retirement
in 1998 of the executive officers named in the Summary Compensation
Table, only Messrs. DeMaria and Maloney would be affected and their
annual supplemental benefit would be $491 and $3,847, respectively.
AEP made available a voluntary deferred-compensation program in
1982 and 1986, which permitted certain members of AEP System
management to defer receipt of a portion of their salaries. Under
this program, a participant was able to defer up to 10% or 15%
annually (depending on the terms of the program offered), over a
four-year period, of his or her salary, and receive supplemental
retirement or survivor benefit payments over a 15-year period. The
amount of supplemental retirement payments received is dependent
upon the amount deferred, age at the time the deferral election was
made, and number of years until the participant retires. The
following table sets forth, for the executive officers named in the
Summary Compensation Table, the amounts of annual deferrals and,
assuming payments commencing at age 65, annual supplemental
retirement payments under the 1982 and 1986 programs.
1982 Program 1986 Program
Annual Amount of Annual Amount of
Annual Supplemental Annual Supplemental
Amount Retirement Amount Retirement
Deferred Payment Deferred Payment
Name (4-Year Period) (15-Year Period) (4-Year Period) (15-Year Period)
P. J. DeMaria $10,000 $52,000 $13,000 $53,300
G. P. Maloney 15,000 67,500 16,000 56,400
(f) RIGHTS TO INDEMNITY
The directors and officers of AEP and its subsidiaries are insured,
subject to certain exclusions, against losses resulting from any
claim or claims made against them while acting in their capacities
as directors and officers. The American Electric Power System
companies are also insured, subject to certain exclusions and
deductibles, to the extent that they have indemnified their
directors and officers for any such losses. Such insurance is
provided by Associated Electric & Gas Insurance Services, CNA,
Energy Insurance Mutual, The Federal Insurance Company and Great
American Insurance Company, effective January 1, 1998 through
December 31, 1998, and pays up to an aggregate amount of
$150,000,000 on any one claim and in any one policy year. The total
annual premium for the five policies is $1,274,413.
Fiduciary liability insurance provides coverage for American
Electric Power System companies, their directors and officers, and
any employee deemed to be a fiduciary or trustee, for breach of
fiduciary responsibility, obligation, or duties as imposed under
the Employee Retirement Income Security Act of 1974, as amended.
This coverage, provided by The Federal Insurance Company Zurich
Insurance Company and Executive Risk Indemnity, Inc., was renewed,
effective July 1, 1997 through June 30, 2000, for a premium of
$402,658. It provides $100,000,000 of aggregate coverage with a
$500,000 deductible for each loss.
<PAGE>
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS
Expenditures, disbursements or payments during the year, in money, goods
or services directly or indirectly to or for the account of:
(1) Any political party, candidate for public office or
holder of such office, or any committee or agent
thereof.
- NONE
(2) Any citizens group or public relations counsel.
Calendar Year 1997
Accounts Charged,
Name of Company and Name if any,
or Number of Recipients Per Books of
or Beneficiaries Purpose Disbursing Company Amounts
(in thousands)
APCo
Coalition for Energy
and Economic Revitalization A 426 Other Income
Deductions $70
I&M
Climate Council A " " " 7
A = Defray Expenses
<PAGE>
<TABLE>
<CAPTION>
ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS
Part I. Contracts for services, including engineering or construction services,
or goods supplied or sold between System companies are as follows:
Calendar Year 1997
Company Company In Effect
Nature of Performing Receiving Date of On Dec. 31st
Transactions Service Service Compensation Contract (Yes or No)
(1) (2) (3) (4) (5) (6)
(in thousands)
<S> <C> <C> <C> <C> <C>
Machine Shop Services APCo System Operating Companies $ 11,061 12/08/78 Yes
Racine Hydro Service APCo OPCo 124 12/08/78 Yes
Simulator Training Services APCo System Operating Companies 1,018 12/12/87 Yes
Coal Mine Shutdown Costs BHCCo I&M (564) 1/01/82 Yes
Coal Mine Shutdown Costs CeCCo APCo 4,519 12/01/76 Yes
Coal Mine Shutdown Costs CACCo APCo 737 9/14/48 Yes
Coal Washing CCPC CSPCo 9,831 11/05/84 Yes
Coal COCCo OPCo 55,232 4/01/83 Yes
Barging Transportation I&M System Operating Companies 24,427 5/01/86 Yes
Coal Mine Shutdown Costs SACCo APCo 663 3/01/78 Yes
Coal SOCCo OPCo 215,302 2/01/74 Yes
Coal Mine Shutdown Costs SOCCo OPCo 3,190 10/01/72 Yes
Coal WCCo OPCo 49,338 1/01/83 Yes
Coal Transportation Simco CCPC 318 5/01/91 Yes
Transactions between AEP System companies pursuant to the Affiliated Transactions Agreement dated December 31, 1996
are reported in Exhibit F of this U5S.
________________________
Part II. Contracts to purchase services or goods between any System company and (1) any affiliate company (other
than a System company) or (2) any other company in which any officer or director of the System company,
receiving service under the contract, is a partner or owns 5 percent or more of any class of equity
securities. - NONE.
Part III. Employment of any other person, by any System company, for the performance on a continuing basis, of
management, supervisory or financial advisory services. - NONE.
</TABLE>
<PAGE>
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES
Part I.
(a) Nanyang General Light Electric Co., Ltd. (NGLE) was formed as a 70%
owned subsidiary by AEP Resources, Inc. through its AEP Resources
International, Ltd. and AEP Resources Project Management Company, Ltd.
subsidiaries who own AEP Pushan Power, LDC, (Pushan) NGLE's 70% parent
on November 14, 1996. NGLE is domiciled in the People's Republic of
China and its business address is Dayuan Zhaun Village, Pushan Town,
Nanyang City, People's Republic of China. At December 31, 1997, the
Company had invested $60.8 million in the construction of a two unit
generating facility. The total cost of the facility is estimated to be
$190 million.
In April 1997 AEP Resources, Inc. and New Century Energies, Inc. through
an equally owned joint venture, Yorkshire Power Group Limited, acquired
all of the outstanding shares of Yorkshire Electricity Group plc,
(Yorkshire) an electric distribution company in the United Kingdom. The
business address of Yorkshire is Wetherby Road, Scarcroft, Leeds LS14
3HS, Great Britain. Yorkshire is one of twelve regional electricity
companies in England and Wales licensed to distribute, supply and, to a
limited extent, generate electricity. Yorkshire's two principal
businesses are the "distribution business" and the "supply business".
Yorkshire's distribution business consists of the distribution of
electricity to approximately two million residential, commercial and
industrial customers in its franchise area. Yorkshire's supply
business consists of the purchase and supply of electricity primarily
to customers within the franchise area. Yorkshire owns, manages and
operates the electricity distribution network within the franchise area.
The primary activity of the distribution business is the receipt of
electricity from the national grid transmission system and its
distribution to end users connected to Yorkshire's distribution network.
Since the distribution business is substantially a regulated monopoly,
virtually all electricity supplied (whether by Yorkshire's supply
business or by any other suppliers) to consumers within the franchise
area is transported through Yorkshire's distribution network. Yorkshire
also conducts ancillary business activities apart from the distribution
and supply businesses that are not subject to price regulation, such as
owning an interest in an off-shore gas field, supplying gas in the
competitive market and holding interests in power generation. AEP
Resources, Inc.'s 50% interest is recorded using the equity method of
accounting.
(b) NGLE has registered capital. Pushan owns 70% of the registered capital
and 30% is owned by two unaffiliated companies. Pushan contributed
$13,753,000 for its 70% interest through the end of 1997. AEP
Resources Delaware, Inc., another AEP Resources, Inc.
subsidiary, had loaned $27,764,000 to NGLE at December 31, 1997.<PAGE>
AEP Resources, Inc. had contributed $362,983,000 to Yorkshire Power
Group Limited for its 50% interest in Yorkshire through December 31, 1997.
(c) NGLE's debt to common equity ratio was 2.1 to 1 at December 31, 1997.
A net loss of $16,000 was recorded by NGLE for the year ended December
31, 1997. Yorkshire Power Group Limited's debt to common equity ratio was
1.3 to 1 at December 31, 1997. It reported a net loss of $151,237,000
including an extraordinary loss of $218,838,000 for the nine months
ended December 31, 1997.
(d) NGLE has a consulting services contract with AEP Resources Service Company
where they will advise NGLE on construction, engineering, start up and
personnel issues related to its generating facility which is under
construction. NGLE will pay $1,000,000 under the contract.
Part II.
See Exhibit's H and I
Part III.
American Electric Power Company, Inc.'s aggregate investment in foreign
utility companies is $404,744,000 which is 8.8% of its investment in
domestic public utility subsidiary companies. American Electric Power
Company, Inc. had no investment in EWG's at December 31, 1997.
<PAGE>
ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS
Section and
FINANCIAL STATEMENTS Page No.
Consent of Independent Public Accountants A-1
Consolidating Statements of Income B-1 to B-6
Consolidating Balance Sheets
Assets B-7 to B-13
Capitalization and Liabilities B-14 to B-20
Consolidating Statements of Cash Flows B-21 to B-27
Consolidating Statements of Retained Earnings B-28 to B-34
Note to Consolidating Financial Statements C-1
Financial Statements of Subsidiaries
Not Consolidated:
CdOCo D-1 to D-3
IKEC D-4 to D-6
OVEC D-7 to D-10
Yorkshire Power Group D-11 to D-13
EXHIBITS
Exhibit A E
Exhibit B & C **
Exhibit D **
Exhibit E **
Exhibit F **
Exhibit G **
Exhibit H **
Exhibit I ***
Exhibit 27 **
* Omitted pursuant to Securities and Exchange Commission Release No. 35-24295.
** These Exhibits are included only the in copy filed with the Securities and
Exchange Commission.
*** Filed confidentially pursuant to Rule 104(b) of the PUHCA.
<PAGE>
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this American Electric
Power Company, Inc. Annual Report (Form U5S) to the Securities and
Exchange Commission, filed pursuant to the Public Utility Holding
Company Act of 1935, for the year ended December 31, 1997, of our
reports dated February 24, 1998 on the consolidated financial
statements of American Electric Power Company, Inc. and subsidiaries
and of certain of its subsidiaries (AEP Generating Company, Appalachian
Power Company and subsidiaries, Columbus Southern Power Company and
subsidiaries, Indiana Michigan Power Company and subsidiaries, Kentucky
Power Company, and Ohio Power Company and subsidiaries), incorporated
by reference in the combined Annual Report (Form 10-K) to the
Securities and Exchange Commission of American Electric Power Company,
Inc. and its subsidiaries and of certain of its subsidiaries for the
year ended December 31, 1997.
/s/ Deloitte & Touche llp
Deloitte & Touche llp
Columbus, Ohio
April 30, 1998
A-1
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands, except per share amount)
JOURNAL ELIMINATIONS
AEP ENTRY AND COMBINED APCo
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP CONSOLIDATED
------------ ------- ------------- -------- ------- -------------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues $6,161,368 1,2,4,8 ($1,280,504) $7,441,872 $1,720,010
Equity of American Electric Power Company,
Inc. in Earnings of Subsidiaries 3 (518,252) 518,252 $518,252
Total 6,161,368 (1,798,756) 7,960,124 518,252 1,720,010
Operating Expenses:
Fuel 1,627,066 1,9 (576) 1,627,642 403,777
Purchased Power 416,266 1 (801,741) 1,218,007 403,009
Other Operation 1,227,368 1,2,4,8,9 (443,086) 1,670,454 5,506 246,785
Maintenance 483,268 4,8 (8,058) 491,326 112,873
Depreciation and Amortization 591,071 8,9 (4,008) 595,079 137,670
Taxes Other Than Federal Income Taxes 490,595 4,8,9 (20,166) 510,761 117 116,590
Federal Income Taxes 341,280 4,7,9 1,242 340,038 59,312
Total Operating Expenses 5,176,914 (1,276,393) 6,453,307 5,623 1,480,016
Operating Income (Loss) 984,454 (522,363) 1,506,817 512,629 239,994
Nonoperating Income (Loss):
Other Nonoperating Income (Loss) 59,572 2-6,8,9 3,087 56,485 947 (222)
Total Nonoperating Income (Loss) 59,572 3,087 56,485 947 (222)
Income (Loss) Before Interest Charges and
Preferred Dividends 1,044,026 (519,276) 1,563,302 513,576 239,772
Interest Charges (net) 405,815 9 1 405,814 2,615 119,258
Preferred Stock Dividend Requirements
of Subsidiaries 17,831 17,831 7,006
Income Before Extraordinary Item 620,380 (519,277) 1,139,657 510,961 113,508
Extraordinary Loss - UK Windfall Tax 109,419 109,419
Net Income (Loss) $510,961 ($519,277) $1,030,238 $510,961 $113,508
Average Number of Shares Outstanding 189,039
Earnings Per Share $2.70
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands, except per share amount)
CSPCo I&M OPCo
CONSOLIDATED CONSOLIDATED KEPCo KGPCo CONSOLIDATED WPCo
------------ ------------- ---------- -------- ------------ --------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues $1,139,604 $1,391,917 $359,543 $79,922 $1,965,818 $85,297
Equity of American Electric Power Company,
Inc. in Earnings of Subsidiaries
Total 1,139,604 1,391,917 359,543 79,922 1,965,818 85,297
Operating Expenses:
Fuel 180,086 226,402 77,051 642,135
Purchased Power 221,064 217,460 113,938 57,931 145,861 58,744
Other Operation 180,663 334,115 51,544 8,533 322,088 9,369
Maintenance 66,956 117,780 24,417 1,982 143,831 3,021
Depreciation and Amortization 106,469 152,683 26,474 2,582 140,807 2,774
Taxes Other Than Federal Income Taxes 117,519 64,945 9,397 3,937 168,480 5,599
Federal Income Taxes 71,720 70,744 9,866 825 126,223 1,362
Total Operating Expenses 944,477 1,184,129 312,687 75,790 1,689,425 80,869
Operating Income (Loss) 195,127 207,788 46,856 4,132 276,393 4,428
Nonoperating Income (Loss):
Other Nonoperating Income (Loss) 3,137 4,415 (464) 594 14,822 (255)
Total Nonoperating Income (Loss) 3,137 4,415 (464) 594 14,822 (255)
Income (Loss) Before Interest Charges and
Preferred Dividends 198,264 212,203 46,392 4,726 291,215 4,173
Interest Charges (net) 78,885 65,463 25,646 2,711 82,526 1,982
Preferred Stock Dividend Requirements
of Subsidiaries 2,442 5,736 2,647
Income Before Extraordinary Item 116,937 141,004 20,746 2,015 206,042 2,191
Extraordinary Loss - UK Windfall Tax
Net Income (Loss) $116,937 $141,004 $20,746 $2,015 $206,042 $2,191
Average Number of Shares Outstanding
Earnings Per Share
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands, except per share amount)
AEPR AEPC
AEPRESCo AEGCo AEPINV CONSOL. AEPES AEPSC CONSOL. CCCo COpCo
-------- -------- ------------------------ -------- ----------------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues $0 $227,868 $0 $0 $0 $456,470 $0 $15,423
Equity of American Electric Power Company,
Inc. in Earnings of Subsidiaries
Total 0 227,868 0 0 0 456,470 0 $0 15,423
Operating Expenses:
Fuel 98,191
Purchased Power 0
Other Operation 79,789 421,969 10,093
Maintenance 12,408 3,356 4,702
Depreciation and Amortization 21,614 4,006
Taxes Other Than Federal Income Taxes 3,542 19,744 891
Federal Income Taxes 3,284 (3,082) (216)
Total Operating Expenses 0 218,828 0 0 0 445,993 0 0 15,470
Operating Income (Loss) 0 9,040 0 0 0 10,477 0 0 (47)
Nonoperating Income (Loss):
Other Nonoperating Income (Loss) 694 3,603 (34) 44,016 (8,646) (3,100) (3,069) 47
Total Nonoperating Income (Loss) 694 3,603 (34) 44,016 (8,646) (3,100) (3,069) 0 47
Income (Loss) Before Interest Charges and
Preferred Dividends 694 12,643 (34) 44,016 (8,646) 7,377 (3,069) 0 0
Interest Charges (net) 19 3,857 14,891 347 7,377 237
Preferred Stock Dividend Requirements
of Subsidiaries
Income Before Extraordinary Item 675 8,786 (34) 29,125 (8,993) 0 (3,306) 0 0
Extraordinary Loss - UK Windfall Tax 109,419
Net Income (Loss) $675 $8,786 ($34) ($80,294) ($8,993) $0 ($3,306) $0 $0
Average Number of Shares Outstanding
Earnings Per Share
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands, except per share amount)
FRECo IFRI AEPPM
---------- -----
<S> <C> <C> <C>
Operating Revenues
Equity of American Electric Power Company,
Inc. in Earnings of Subsidiaries
Total $0 $0 $0
Operating Expenses:
Fuel
Purchased Power
Other Operation
Maintenance
Depreciation and Amortization
Taxes Other Than Federal Income Taxes
Federal Income Taxes
Total Operating Expenses 0 0 0
Operating Income (Loss) 0 0 0
Nonoperating Income (Loss):
Other Nonoperating Income (Loss)
Total Nonoperating Income (Loss) 0 0 0
Income (Loss) Before Interest Charges and
Preferred Dividends 0 0 0
Interest Charges (net)
Preferred Stock Dividend Requirements
of Subsidiaries
Income Before Extraordinary Item 0 0 0
Extraordinary Loss - UK Windfall Tax
Net Income (Loss) $0 $0 $0
Average Number of Shares Outstanding
Earnings Per Share
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
APCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL APCo
<S> <C> <C> <C> <C> <C>
Operating Revenues $1,720,010 $0 $1,720,010 $1,720,010
Operating Expenses:
Fuel 403,777 403,777 403,777
Purchased Power 403,009 403,009 403,009
Other Operation 246,785 246,785 246,785
Maintenance 112,873 112,873 112,873
Depreciation and Amortization 137,670 137,670 137,670
Taxes Other Than Federal Income Taxes 116,590 116,590 116,590
Federal Income Taxes 59,312 59,312 59,312
Total Operating Expenses 1,480,016 0 1,480,016 1,480,016
Operating Income 239,994 0 239,994 239,994
Nonoperating Income (Loss):
Equity in Earnings of Subsidiary Companies 0 10 (1,140) 1,140 1,140
Other Nonoperating Income (Loss) (222) (222) (1,362)
Total Nonoperating Income (Loss) (222) (1,140) 918 (222)
Income (Loss) Before Interest Charges and
Preferred Dividends 239,772 (1,140) 240,912 239,772
Interest Charges (net) 119,258 119,258 119,258
Preferred Stock Dividend Requirements 7,006 7,006 7,006
Earnings (Loss) Applicable to Common Stock $113,508 ($1,140) $114,648 $113,508
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands)
CeCCo CACCo SACCo WVPCo
<S> <C> <C> <C> <C>
Operating Revenues
Operating Expenses:
Fuel
Purchased Power
Other Operation
Maintenance
Depreciation and Amortization
Taxes Other Than Federal Income Taxes
Federal Income Taxes
Total Operating Expenses $0 $0 $0 $0
Operating Income 0 0 0 0
Nonoperating Income (Loss):
Equity in Earnings of Subsidiary Companies
Other Nonoperating Income (Loss) 450 81 603 6
Total Nonoperating Income (Loss) 450 81 603 6
Income (Loss) Before Interest Charges and
Preferred Dividends 450 81 603 6
Interest Charges (net)
Preferred Stock Dividend Requirements
Earnings (Loss) Applicable to Common Stock $450 $81 $603 $6
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
CSPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL CSPCo
<S> <C> <C> <C> <C> <C>
Operating Revenues $1,139,604 11 ($10,149) $1,149,753 $1,139,604
Operating Expenses:
Fuel 180,086 11 (291) 180,377 180,377
Purchased Power 221,064 221,064 221,064
Other Operation 180,663 11 (7,974) 188,637 180,663
Maintenance 66,956 11 (1,463) 68,419 66,956
Depreciation and Amortization 106,469 11 (129) 106,598 106,469
Taxes Other Than Federal Income Taxes 117,519 11 (292) 117,811 117,518
Federal Income Taxes 71,720 0 71,720 71,611
Total Operating Expenses 944,477 (10,149) 954,626 944,658
Operating Income 195,127 0 195,127 194,946
Nonoperating Income (Loss):
Equity in Earnings of Subsidiary Companies 0 12 (260) 260 260
Other Nonoperating Income (Loss) 3,137 3,137 3,058
Total Nonoperating Income (Loss) 3,137 (260) 3,397 3,318
Income Before Interest Charges and
Preferred Dividends 198,264 (260) 198,524 198,264
Interest Charges (net) 78,885 78,885 78,885
Preferred Stock Dividend Requirements 2,442 2,442 2,442
Earnings Applicable to Common Stock $116,937 ($260) $117,197 $116,937
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands)
COLM CCPC Simco
<S> <C> <C> <C>
Operating Revenues $9,831 $318
Operating Expenses:
Fuel
Purchased Power
Other Operation 7,970 4
Maintenance 1,463
Depreciation and Amortization 27 102
Taxes Other Than Federal Income Taxes 257 36
Federal Income Taxes 53 56
Total Operating Expenses $0 9,770 198
Operating Income 0 61 120
Nonoperating Income (Loss):
Equity in Earnings of Subsidiary Companies
Other Nonoperating Income (Loss) 70 9 0
Total Nonoperating Income (Loss) 70 9 0
Income Before Interest Charges and
Preferred Dividends 70 70 120
Interest Charges (net)
Preferred Stock Dividend Requirements
Earnings Applicable to Common Stock $70 $70 $120
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
I&M ENTRY AND COMBINED
CONSOLIDATED NUMBER ADJUSTMENTS TOTAL I&M
<S> <C> <C> <C> <C> <C>
Operating Revenues $1,391,917 $1,391,917 $1,391,917
Operating Expenses:
Fuel 226,402 226,402 226,402
Purchased Power 217,460 217,460 217,460
Other Operation 334,115 334,115 334,115
Maintenance 117,780 117,780 117,780
Depreciation and Amortization 152,683 152,683 152,683
Taxes Other Than Federal Income Taxes 64,945 64,945 64,945
Federal Income Taxes 70,744 70,744 70,744
Total Operating Expenses 1,184,129 1,184,129 1,184,129
Operating Income 207,788 207,788 207,788
Nonoperating Income:
Equity in Earnings of Subsidiary Companies 0 13 ($726) 726 726
Other Nonoperating Income 4,415 4,415 3,689
Total Nonoperating Income 4,415 (726) 5,141 4,415
Income Before Interest Charges and
Preferred Dividends 212,203 (726) 212,929 212,203
Interest Charges (net) 65,463 65,463 65,463
Preferred Stock Dividend Requirements 5,736 5,736 5,736
Earnings Applicable to Common Stock $141,004 ($726) $141,730 $141,004
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands)
BHCCo PRCCo
<S> <C> <C>
Operating Revenues
Operating Expenses:
Fuel
Purchased Power
Other Operation
Maintenance
Depreciation and Amortization
Taxes Other Than Federal Income Taxes
Federal Income Taxes
Total Operating Expenses $0 $0
Operating Income 0 0
Nonoperating Income:
Equity in Earnings of Subsidiary Companies
Other Nonoperating Income 726
Total Nonoperating Income 726 0
Income Before Interest Charges and
Preferred Dividends 726 0
Interest Charges (net)
Preferred Stock Dividend Requirements
Earnings Applicable to Common Stock $726 $0
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
OPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL OPCo
<S> <C> <C> <C> <C> <C>
Operating Revenues $1,965,818 14,15,16,20 ($362,117) $2,327,935 $1,975,291
Operating Expenses:
Fuel 642,135 14,15,16,19 (24,746) 666,881 666,881
Purchased Power 145,861 145,861 145,861
Other Operation 322,088 14 (215,240) 537,328 322,089
Maintenance 143,831 14 (69,806) 213,637 143,831
Depreciation and Amortization 140,807 14 (31,379) 172,186 140,807
Taxes Other Than Federal Income Taxes 168,480 14 (23,406) 191,886 168,480
Federal Income Taxes 126,223 18,20 15 126,208 119,186
Total Operating Expenses 1,689,425 (364,562) 2,053,987 1,707,135
Operating Income 276,393 2,445 273,948 268,156
Nonoperating Income:
Equity in Earnings of Subsidiary Companies 0 17 (5,455) 5,455 5,455
Other Nonoperating Income (Loss) 14,822 18,19,20 (2,480) 17,302 13,352
Total Nonoperating Income 14,822 (7,935) 22,757 18,807
Income Before Interest Charges and
Preferred Dividends 291,215 (5,490) 296,705 286,963
Interest Charges (net) 82,526 18 (35) 82,561 78,274
Preferred Stock Dividend Requirements 2,647 2,647 2,647
Earnings Applicable to Common Stock $206,042 ($5,455) $211,497 $206,042
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 1997
(in thousands)
COCCo SOCCo WCCo
<S> <C> <C> <C>
Operating Revenues $66,279 $217,810 $68,555
Operating Expenses:
Fuel
Purchased Power
Other Operation 53,598 121,304 40,337
Maintenance 10,097 43,705 16,004
Depreciation and Amortization 3,771 23,167 4,441
Taxes Other Than Federal Income Taxes 3,080 14,135 6,191
Federal Income Taxes (388) 6,779 631
Total Operating Expenses 70,158 209,090 67,604
Operating Income (3,879) 8,720 951
Nonoperating Income:
Equity in Earnings of Subsidiary Companies
Other Nonoperating Income (Loss) 3,879 (152) 223
Total Nonoperating Income 3,879 (152) 223
Income Before Interest Charges and
Preferred Dividends 0 8,568 1,174
Interest Charges (net) 4,273 14
Preferred Stock Dividend Requirements
Earnings Applicable to Common Stock $0 $4,295 $1,160
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(in thousands) JOURNAL ELIMINATIONS
AEP ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP
ASSETS
<S> <C> <C> <C> <C> <C>
Electric Utility Plant:
Production $9,493,158 $9,493,158
Transmission 3,501,580 $3,501,580
Distribution 4,654,234 $4,654,234
General(including mining assets and nuclear fuel) 1,604,671 $1,604,671
Construction Work In Progress 342,842 $342,842
Total Electric Utility Plant 19,596,485 0 $19,596,485 $0
Accumulated Depreciation and Amortization (7,963,636) 5 (1) ($7,963,635)
Net Electric Utility Plant 11,632,849 (1) $11,632,850 0
Other Property and Investments 1,358,810 1,6 (4,674,256) $6,033,066 4,714,324
Current Assets:
Cash and Cash Equivalents 91,481 2,5 442 $91,039 644
Accounts Receivable:
Customers 559,203 5 1 $559,202
Affiliated Companies 0 2 (230,150) $230,150 446
Miscellaneous 115,075 2,5 12,777 $102,298 7
Allowance for Uncollectible Accounts (6,760) 5 (1) ($6,759)
Fuel - at average cost 224,967 $224,967
Materials and Supplies - at average cost 263,613 5 1 $263,612
Accrued Utility Revenues 189,191 5 (1) $189,192
Prepayments and Other 81,366 5 (1) $81,367 68
Total Current Assets 1,518,136 (216,932) 1,735,068 1,165
Regulatory Assets 1,817,540 3 7,178 $1,810,362 (50)
Deferred Charges 288,011 2,4,5 (3,209) $291,220 23,785
Total $16,615,346 ($4,887,220) $21,502,566 $4,739,224
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
APCo CSPCo I&M
CONSOLIDATED CONSOLIDATED CONSOLIDATED KEPCo KGPCo
ASSETS
<S> <C> <C> <C> <C> <C>
Electric Utility Plant:
Production $1,942,325 $1,521,381 $2,545,484 $249,184
Transmission 1,079,919 336,446 908,736 303,456 $12,996
Distribution 1,583,161 926,178 737,902 350,793 65,255
General(including mining assets and nuclear fuel) 207,380 138,041 233,888 71,462 4,684
Construction Work In Progress 88,261 54,064 88,487 32,060 1,456
Total Electric Utility Plant 4,901,046 2,976,110 4,514,497 1,006,955 84,391
Accumulated Depreciation and Amortization (1,869,057) (1,074,588) (1,973,937) (296,318) (27,824)
Net Electric Utility Plant 3,031,989 1,901,522 2,540,560 710,637 56,567
Other Property and Investments 35,467 33,653 722,618 6,591 288
Current Assets:
Cash and Cash Equivalents 6,947 12,626 5,860 1,381 763
Accounts Receivable:
Customers 129,924 87,357 107,087 24,127 5,803
Affiliated Companies 24,502 12,317 15,662 1,722 10,274
Miscellaneous 10,231 12,353 14,561 3,276 1,267
Allowance for Uncollectible Accounts (1,333) (1,058) (1,188) (525) (72)
Fuel - at average cost 47,901 19,549 17,182 10,685
Materials and Supplies - at average cost 57,359 27,628 78,701 14,054 547
Accrued Utility Revenues 51,208 51,765 30,521 12,981 3,793
Prepayments and Other 6,037 29,979 4,685 1,538 1,058
Total Current Assets 332,776 252,516 273,071 69,239 23,433
Regulatory Assets 441,223 359,481 400,489 90,045 5,598
Deferred Charges 41,975 66,688 31,060 10,159 3
Total $3,883,430 $2,613,860 $3,967,798 $886,671 $85,889
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
OPCo AEPR
CONSOLIDATED WPCo AEPRESC AEGCo AEPINV CONSOLIDATED
ASSETS
<S> <C> <C> <C> <C> <C> <C>
Electric Utility Plant:
Production $2,606,981 $627,803
Transmission 837,953 $22,074
Distribution 927,239 63,706
General (including mining assets and nuclear fuel) 709,475 7,450 3,137
Construction Work In Progress 74,149 1,855 2,510
Total Electric Utility Plant 5,155,797 95,085 $0 633,450 $0 $0
Accumulated Depreciation and Amortization (2,349,995) (37,355) (257,191)
Net Electric Utility Plant 2,805,802 57,730 0 376,259 0 0
Other Property and Investments 113,925 2,951 25 6 1,904 350,364
Current Assets:
Cash and Cash Equivalents 44,203 197 8,757 237 90 6,753
Accounts Receivable:
Customers 196,982 7,922
Affiliated Companies 55,597 792 178 20,370
Miscellaneous 43,594 644 650 340 52
Allowance for Uncollectible Accounts (2,501) (82)
Fuel - at average cost 119,543 10,107
Materials and Supplies - at average cost 80,853 148 4,246
Accrued Utility Revenues 37,586 1,338
Prepayments and Other 36,611 213 12 368 264
Total Current Assets 612,468 11,172 9,597 35,668 90 7,069
Regulatory Assets 523,891 13,955 (25,736)
Deferred Charges 107,116 1,568 46 1,486 37
Total $4,163,202 $87,376 $9,668 $387,683 $1,994 $357,470
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
AEPC
AEPES AEPSC CONSOL. CCCo COpCo FRECo IFRI AEPPM
ASSETS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Electric Utility Plant:
Production
Transmission
Distribution
General (including mining assets and nuclear fuel) $229,154
Construction Work In Progress
Total Electric Utility Plant $0 229,154 $0 $0 $0 $0 $0 $0
Accumulated Depreciation and Amortization (77,370)
Net Electric Utility Plant 0 151,784 0 0 0 0 0 0
Other Property and Investments 40,741 9,507 701 1
Current Assets:
Cash and Cash Equivalents 830 725 109 122 769 25 1
Accounts Receivable:
Customers
Affiliated Companies 85,841 212 2,233 4
Miscellaneous 10,820 3,471 1,016 16
Allowance for Uncollectible Accounts
Fuel - at average cost
Materials and Supplies - at average cost 76
Accrued Utility Revenues
Prepayments and Other 514 2 2 16
Total Current Assets 11,650 90,551 1,203 352 3,018 29 1 0
Regulatory Assets 1,366 (77) 177
Deferred Charges 112 7,180 5 0
Total $11,762 $291,622 $10,710 $976 $3,195 $30 $6 $0
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
APCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL APCo
ASSETS
<S> <C> <C> <C> <C> <C>
Electric Utility Plant:
Production $1,942,325 $1,942,325 $1,942,325
Transmission 1,079,919 1,079,919 1,079,919
Distribution 1,583,161 1,583,161 1,583,161
General 207,380 207,380 207,380
Construction Work In Progress 88,261 88,261 88,261
Total Electric Utility Plant 4,901,046 $0 4,901,046 4,901,046
Accumulated Depreciation and Amortization (1,869,057) (1,869,057) (1,869,057)
Net Electric Utility Plant 3,031,989 0 3,031,989 3,031,989
Other Property and Investments 35,467 7 (10,260) 45,727 39,455
Current Assets:
Cash and Cash Equivalents 6,947 6,947 5,703
Accounts Receivable:
Customers 129,924 129,924 129,924
Affiliated Companies 24,502 8 (10,794) 35,296 24,461
Miscellaneous 10,231 10,231 9,148
Allowance for Uncollectible Accounts (1,333) (1,333) (1,333)
Fuel - at average cost 47,901 47,901 47,901
Materials and Supplies - at average cost 57,359 57,359 57,359
Accrued Utility Revenues 51,208 51,208 51,208
Prepayments and Other 6,037 9 1 6,036 5,433
Total Current Assets 332,776 (10,793) 343,569 329,804
Regulatory Assets 441,223 441,223 442,260
Deferred Charges 41,975 8 (306) 42,281 42,279
Total $3,883,430 ($21,359) $3,904,789 $3,885,787
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
CeCCo CACCo SACCo WVPCo
ASSETS
<S> <C> <C> <C> <C>
Electric Utility Plant:
Production
Transmission
Distribution
General
Construction Work In Progress
Total Electric Utility Plant $0 $0 $0 $0
Accumulated Depreciation and Amortization
Net Electric Utility Plant 0 0 0 0
Other Property and Investments 516 0 5,746 10
Current Assets:
Cash and Cash Equivalents 377 51 589 227
Accounts Receivable:
Customers
Affiliated Companies 7,627 2,473 735
Miscellaneous 318 141 623 1
Allowance for Uncollectible Accounts
Fuel - at average cost
Materials and Supplies - at average cost
Accrued Utility Revenues
Prepayments and Other 603
Total Current Assets 8,925 2,665 1,947 228
Regulatory Assets (637) (291) (109)
Deferred Charges 1 1 0 0
Total $8,805 $2,375 $7,584 $238
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
CSPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
ASSETS
<S> <C> <C> <C> <C>
Electric Utility Plant:
Production $1,521,381 $1,521,381
Transmission 336,446 336,446
Distribution 926,178 926,178
General 138,041 138,041
Construction Work In Progress 54,064 54,064
Total Electric Utility Plant 2,976,110 $0 2,976,110
Accumulated Depreciation (1,074,588) (1,074,588)
Net Electric Utility Plant 1,901,522 0 1,901,522
Other Property and Investments 33,653 10,12 (4,567) 38,220
Current Assets:
Cash and Cash Equivalents 12,626 12,626
Accounts Receivable:
Customers 87,357 87,357
Affiliated Companies 12,317 11 (2,833) 15,150
Miscellaneous 12,353 12,353
Allowance for Uncollectible Accounts (1,058) (1,058)
Fuel - at average cost 19,549 19,549
Materials and Supplies - at average cost 27,628 27,628
Accrued Utility Revenues 51,765 51,765
Prepayments and Other 29,979 29,979
Total Current Assets 252,516 (2,833) 255,349
Regulatory Assets 359,481 359,481
Deferred Charges 66,688 11,12 (11) 66,699
Total $2,613,860 ($7,411) $2,621,271
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
CSPCo COLM CCPC Simco
ASSETS
<S> <C> <C> <C> <C>
Electric Utility Plant:
Production $1,521,381
Transmission 336,446
Distribution 926,178
General 135,538 $785 $1,718
Construction Work In Progress 54,064
Total Electric Utility Plant 2,973,607 $0 785 1,718
Accumulated Depreciation (1,072,951) (475) (1,162)
Net Electric Utility Plant 1,900,656 0 310 556
Other Property and Investments 35,598 2,546 76
Current Assets:
Cash and Cash Equivalents 12,091 270 42 223
Accounts Receivable:
Customers 87,357
Affiliated Companies 12,300 2,823 27
Miscellaneous 12,293 23 29 8
Allowance for Uncollectible Accounts (1,058)
Fuel - at average cost 19,549
Materials and Supplies - at average cost 26,818 810
Accrued Utility Revenues 51,765
Prepayments and Other 29,968 (5) 17 (1)
Total Current Assets 251,083 288 3,721 257
Regulatory Assets 359,183 298
Deferred Charges 66,665 (23) 59 (2)
Total $2,613,185 $2,811 $4,464 $811
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
I&M ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
ASSETS
<S> <C> <C> <C> <C>
Electric Utility Plant:
Production $2,545,484 $2,545,484
Transmission 908,736 908,736
Distribution 737,902 737,902
General (including nuclear fuel) 233,888 233,888
Construction Work In Progress 88,487 88,487
Total Electric Utility Plant 4,514,497 $0 4,514,497
Accumulated Depreciation and Amortization (1,973,937) (1,973,937)
Net Electric Utility Plant 2,540,560 0 2,540,560
Other Property and Investments 722,618 13 (76,533) 799,151
Current Assets:
Cash and Cash Equivalents 5,860 5,860
Accounts Receivable:
Customers 107,087 107,087
Affiliated Companies 15,662 14 577 15,085
Miscellaneous 14,561 14,561
Allowance for Uncollectible Accounts (1,188) (1,188)
Fuel - at average cost 17,182 17,182
Materials and Supplies - at average cost 78,701 78,701
Accrued Utility Revenues 30,521 30,521
Prepayments and Other 4,685 4,685
Total Current Assets 273,071 577 272,494
Regulatory Assets 400,489 400,489
Deferred Charges 31,060 14 (1,966) 33,026
Total $3,967,798 ($77,922) $4,045,720
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
I&M BHCCo PRCCo
ASSETS
<S> <C> <C> <C>
Electric Utility Plant:
Production $2,545,484
Transmission 908,736
Distribution 737,902
General (including nuclear fuel) 233,888
Construction Work In Progress 88,487
Total Electric Utility Plant 4,514,497 $0 $0
Accumulated Depreciation and Amortization (1,973,937)
Net Electric Utility Plant 2,540,560 0 0
Other Property and Investments 727,652 71,499
Current Assets:
Cash and Cash Equivalents 5,242 618
Accounts Receivable:
Customers 107,087
Affiliated Companies 14,938 120 27
Miscellaneous 5,393 9,168
Allowance for Uncollectible Accounts (1,188)
Fuel - at average cost 17,182
Materials and Supplies - at average cost 78,701
Accrued Utility Revenues 30,521
Prepayments and Other 4,614 71
Total Current Assets 262,490 9,977 27
Regulatory Assets 395,642 4,847
Deferred Charges 33,025 1
Total $3,959,369 $86,324 $27
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
OPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
ASSETS
<S> <C> <C> <C> <C>
Electric Utility Plant:
Production $2,606,981 $2,606,981
Transmission 837,953 837,953
Distribution 927,239 927,239
General (including mining assets) 709,475 18 $1 709,474
Construction Work In Progress 74,149 18 1 74,148
Total Electric Utility Plant 5,155,797 2 5,155,795
Accumulated Depreciation and Amortization (2,349,995) 18 (1) (2,349,994)
Net Electric Utility Plant 2,805,802 1 2,805,801
Other Property and Investments 113,925 15,18 (77,216) 191,141
Current Assets:
Cash and Cash Equivalents 44,203 18 (1) 44,204
Accounts Receivable:
Customers 196,982 196,982
Affiliated Companies 55,597 16 (18,969) 74,566
Miscellaneous 43,594 18 1 43,593
Allowance for Uncollectible Accounts (2,501) (2,501)
Fuel - at average cost 119,543 119,543
Materials and Supplies - at average cost 80,853 18 (1) 80,854
Accrued Utility Revenues 37,586 18 1 37,585
Prepayments and Other 36,611 36,611
Total Current Assets 612,468 (18,969) 631,437
Regulatory Assets 523,891 523,891
Deferred Charges 107,116 16,17,18 (1,892) 109,008
Total $4,163,202 ($98,076) $4,261,278
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
OPCo COCCo SOCCo WCCo
ASSETS
<S> <C> <C> <C> <C>
Electric Utility Plant:
Production $2,606,981
Transmission 837,953
Distribution 927,239
General (including mining assets) 199,420 $64,304 $384,417 $61,333
Construction Work In Progress 72,145 1,978 25
Total Electric Utility Plant 4,643,738 64,304 386,395 61,358
Accumulated Depreciation and Amortization (2,044,489) (50,673) (219,510) (35,322)
Net Electric Utility Plant 2,599,249 13,631 166,885 26,036
Other Property and Investments 129,283 1,059 60,781 18
Current Assets:
Cash and Cash Equivalents 4,752 14,335 16,657 8,460
Accounts Receivable:
Customers 196,982
Affiliated Companies 49,735 8,013 9,919 6,899
Miscellaneous 18,111 1,724 22,805 953
Allowance for Uncollectible Accounts (2,501)
Fuel - at average cost 117,848 28 1,523 144
Materials and Supplies - at average cost 57,683 7,004 11,664 4,503
Accrued Utility Revenues 37,585
Prepayments and Other 35,487 448 432 244
Total Current Assets 515,682 31,552 63,000 21,203
Regulatory Assets 478,138 474 48,630 (3,351)
Deferred Charges 102,880 299 5,476 353
Total $3,825,232 $47,015 $344,772 $44,259
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
AEP ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C>
Capitalization:
Common Stock $1,293,435 1 ($738,724) $2,032,159 $1,293,435
Paid-in Capital 1,778,782 1 (2,732,787) 4,511,569 1,778,782
Retained Earnings 1,605,017 1,3 (1,194,202) 2,799,219 1,605,017
Total Common Shareholders' Equity 4,677,234 (4,665,713) 9,342,947 4,677,234
Cumulative Preferred Stocks of Subsidiaries:
Not Subject to Mandatory Redemption 46,724 46,724
Subject to Mandatory Redemption 127,605 127,605
Long-term Debt 5,129,463 1,5 (1,101) 5,130,564
Total Capitalization 9,981,026 (4,666,814) 14,647,840 4,677,234
Other Noncurrent Liabilities 1,246,537 4 (9,857) 1,256,394
Current Liabilities:
Long-term Debt Due Within One Year 294,454 294,454
Short-term Debt 555,075 555,075 53,700
Accounts Payable:
General 353,256 2 9,094 344,162 7,400
Affiliated Companies 0 2 (218,439) 218,439 562
Taxes Accrued 380,771 380,771
Interest Accrued 76,361 5 1 76,360 56
Obligations Under Capital Leases 101,089 5 (1) 101,090
Other 322,687 2,5 (937) 323,624 312
Total Current Liabilities 2,083,693 (210,282) 2,293,975 62,030
Deferred Income Taxes 2,560,921 3,5 7,177 2,553,744 (50)
Deferred Investment Tax Credits 376,250 3 (13,333) 389,583
Deferred Gain on Sale and Leaseback -
Rockport Plant Unit 2 231,320 231,320
Deferred Credits 135,599 5,6 5,889 129,710 10
Total $16,615,346 ($4,887,220) $21,502,566 $4,739,224
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
APCo CSPCo I&M
CONSOLIDATED CONSOLIDATED CONSOLIDATED KEPCo KGPCo
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C>
Capitalization:
Common Stock $260,458 $41,026 56,584 $50,450 $4,100
Paid-in Capital 613,048 572,112 732,472 128,750 10,800
Retained Earnings 207,544 138,172 278,814 78,076 7,367
Total Common Shareholders' Equity 1,081,050 751,310 1,067,870 257,276 22,267
Cumulative Preferred Stocks of Subsidiaries:
Not Subject to Mandatory Redemption 19,747 9,435
Subject to Mandatory Redemption 22,310 25,000 68,445
Long-term Debt 1,415,026 887,850 1,014,237 341,051 25,000
Total Capitalization 2,538,133 1,664,160 2,159,987 598,327 47,267
Other Noncurrent Liabilities 137,371 42,271 613,683 26,693 12,186
Current Liabilities:
Long-term Debt Due Within One Year 79,509 81,750 35,000
Short-term Debt 130,300 66,600 119,600 36,500 5,600
Accounts Payable:
General 52,683 43,199 36,729 13,842 494
Affiliated Companies 44,133 28,088 48,802 10,732 6,328
Taxes Accrued 41,549 131,107 29,713 6,130 1,215
Interest Accrued 20,949 14,198 15,741 6,015 734
Obligations Under Capital Leases 11,559 5,939 34,033 3,719 265
Other 73,548 22,680 63,250 14,876 2,090
Total Current Liabilities 454,230 393,561 382,868 91,814 16,726
Deferred Income Taxes 658,655 433,593 559,708 153,945 8,506
Deferred Investment Tax Credits 67,496 52,934 138,045 15,615 1,027
Deferred Gain on Sale and Leaseback -
Rockport Plant Unit 2 92,419
Deferred Credits 27,545 27,341 21,088 277 177
Total $3,883,430 $2,613,860 $3,967,798 $886,671 $85,889
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
OPCo AEPR
CONSOLIDATED WPCo AEPRESC AEGCo AEPINV CONSOLIDATED
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C> <C>
Capitalization:
Common Stock $321,201 $2,428 $110 $1,000
Paid-in Capital 462,296 13,596 3,890 39,235 $15,459 $127,086
Retained Earnings 590,151 5,924 (2,436) 2,528 (8,868) (87,759)
Total Common Shareholders' Equity 1,373,648 21,948 1,564 42,763 6,591 39,327
Cumulative Preferred Stocks of Subsidiaries:
Not Subject to Mandatory Redemption 17,542
Subject to Mandatory Redemption 11,850
Long-term Debt 1,012,031 26,000 69,570 283,699
Total Capitalization 2,415,071 47,948 1,564 112,333 6,591 323,026
Other Noncurrent Liabilities 295,375 6,353 15 1,259 4,129
Current Liabilities:
Long-term Debt Due Within One Year 83,195
Short-term Debt 78,700 5,975 11,750 33,100
Accounts Payable:
General 146,824 340 947 6,232 15
Affiliated Companies 37,923 5,804 426 3,472 2 1,725
Taxes Accrued 160,055 2,070 800 3,420 1 2,999
Interest Accrued 16,255 599 461 980
Obligations Under Capital Leases 30,307 597 560
Other 94,338 1,236 154 8,150 263
Total Current Liabilities 647,597 16,621 2,327 34,045 3 39,082
Deferred Income Taxes 723,172 15,668 (134) 31,129 (4,600) (14,002)
Deferred Investment Tax Credits 42,821 575 70,016
Deferred Gain on Sale and Leaseback -
Rockport Plant Unit 2 138,901
Deferred Credits 39,166 211 5,896 5,235
Total $4,163,202 $87,376 $9,668 $387,683 $1,994 $357,470
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
AEPC
AEPES AEPSC CONSOL. CCCo COpCo FRECo IFRI AEPPM
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Capitalization:
Common Stock $1,350 $3 $3 $10 $1
Paid-in Capital $2,225 $10,610 1,205 3
Retained Earnings (11,974) (3,530) 173 20
Total Common Shareholders' Equity (9,749) 1,350 7,080 1,208 179 30 1 0
Cumulative Preferred Stocks of Subsidiaries:
Not Subject to Mandatory Redemption
Subject to Mandatory Redemption
Long-term Debt 56,100
Total Capitalization (9,749) 57,450 7,080 1,208 179 30 1 0
Other Noncurrent Liabilities 114,134 179 2,746
Current Liabilities:
Long-term Debt Due Within One Year 15,000
Short-term Debt 10,500 2,750
Accounts Payable:
General 9,946 24,559 609 343
Affiliated Companies 1,394 28,316 478 68 181 5
Taxes Accrued (169) 1,802 323 (7) (237)
Interest Accrued 2 370
Obligations Under Capital Leases 14,111
Other 40,630 26 2,071
Total Current Liabilities 21,673 124,788 4,160 87 2,358 0 5 0
Deferred Income Taxes (162) (8,536) (530) (530) (2,088)
Deferred Investment Tax Credits 1,054
Deferred Gain on Sale and Leaseback -
Rockport Plant Unit 2
Deferred Credits 2,732 32
Total $11,762 $291,622 $10,710 $976 $3,195 $30 $6 $0
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
APCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL APCo
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C>
Capitalization:
Common Stock $260,458 7 ($210) $260,668 $260,458
Paid-in Capital 613,048 7 (16,713) 629,761 613,048
Retained Earnings 207,544 7 6,663 200,881 207,544
Total Common Shareholder's Equity 1,081,050 (10,260) 1,091,310 1,081,050
Cumulative Preferred Stock:
Not Subject to Mandatory Redemption 19,747 19,747 19,747
Subject to Mandatory Redemption 22,310 22,310 22,310
Long-term Debt 1,415,026 1,415,026 1,415,026
Total Capitalization 2,538,133 (10,260) 2,548,393 2,538,133
Other Noncurrent Liabilities 137,371 137,371 126,880
Current Liabilities:
Long-term Debt Due Within One Year 79,509 79,509 79,509
Short-term Debt 130,300 130,300 130,300
Accounts Payable:
General 52,683 52,683 52,465
Affiliated Companies 44,133 8 (11,100) 55,233 53,608
Taxes Accrued 41,549 41,549 41,470
Interest Accrued 20,949 20,949 20,949
Obligations Under Capital Leases 11,559 11,559 11,559
Other 73,548 9 1 73,547 72,796
Total Current Liabilities 454,230 (11,099) 465,329 462,656
Deferred Income Taxes 658,655 658,655 666,520
Deferred Investment Tax Credits 67,496 67,496 67,496
Deferred Credits 27,545 27,545 24,102
Total $3,883,430 ($21,359) $3,904,789 $3,885,787
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
CeCCo CACCo SACCo WVPCo
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization:
Common Stock $200 $3 $7
Paid-in Capital 5,168 450 10,900 $195
Retained Earnings (3,573) (204) (2,931) 45
Total Common Shareholder's Equity 1,795 249 7,976 240
Cumulative Preferred Stock:
Not Subject to Mandatory Redemption
Subject to Mandatory Redemption
Long-term Debt
Total Capitalization 1,795 249 7,976 240
Other Noncurrent Liabilities 6,956 2,847 688
Current Liabilities:
Long-term Debt Due Within One Year
Short-term Debt
Accounts Payable:
General 218
Affiliated Companies 1,180 187 258
Taxes Accrued 56 17 8 (2)
Interest Accrued
Obligations Under Capital Leases
Other 415 273 63
Total Current Liabilities 1,869 477 329 (2)
Deferred Income Taxes (3,693) (1,221) (2,951)
Deferred Investment Tax Credits
Deferred Credits 1,878 23 1,542
Total $8,805 $2,375 $7,584 $238
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
CSPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization:
Common Stock $41,026 10 ($1,609) $42,635
Paid-in Capital 572,112 10 (770) 572,882
Retained Earnings 138,172 10 (2,187) 140,359
Total Common Shareholder's Equity 751,310 (4,566) 755,876
Cumulative Preferred Stock -
Subject to Mandatory Redemption 25,000 25,000
Long-term Debt 887,850 887,850
Total Capitalization 1,664,160 (4,566) 1,668,726
Other Noncurrent Liabilities 42,271 42,271
Current Liabilities:
Long-term Debt Due Within One Year 81,750 81,750
Short-term Debt 66,600 66,600
Accounts Payable:
General 43,199 43,199
Affiliated Companies 28,088 11,12 (2,817) 30,905
Taxes Accrued 131,107 12 1 131,106
Interest Accrued 14,198 14,198
Obligations Under Capital Leases 5,939 5,939
Other 22,680 11 (27) 22,707
Total Current Liabilities 393,561 (2,843) 396,404
Deferred Income Taxes 433,593 12 (1) 433,594
Deferred Investment Tax Credits 52,934 52,934
Deferred Credits 27,341 12 (1) 27,342
Total $2,613,860 ($7,411) $2,621,271
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
CSPCo COLM CCPC Simco
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization:
Common Stock $41,026 $1,500 $100 $9
Paid-in Capital 572,112 30 400 340
Retained Earnings 138,172 1,225 820 142
Total Common Shareholder's Equity 751,310 2,755 1,320 491
Cumulative Preferred Stock -
Subject to Mandatory Redemption 25,000
Long-term Debt 887,850
Total Capitalization 1,664,160 2,755 1,320 491
Other Noncurrent Liabilities 41,115 1,156
Current Liabilities:
Long-term Debt Due Within One Year 81,750
Short-term Debt 66,600
Accounts Payable:
General 42,966 233
Affiliated Companies 30,699 26 154 26
Taxes Accrued 131,055 4 49 (2)
Interest Accrued 14,198
Obligations Under Capital Leases 5,878 61
Other 21,459 1,248
Total Current Liabilities 394,605 30 1,745 24
Deferred Income Taxes 434,191 (704) 107
Deferred Investment Tax Credits 52,895 39
Deferred Credits 26,219 26 947 150
Total $2,613,185 $2,811 $4,464 $811
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
JOURNAL ELIMINATIONS
I&M ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization:
Common Stock $56,584 13 ($39,548) $96,132
Paid-in Capital 732,472 13 (1,303) 733,775
Retained Earnings 278,814 13 (14,982) 293,796
Total Common Shareholder's Equity 1,067,870 (55,833) 1,123,703
Cumulative Preferred Stock:
Not Subject to Mandatory Redemption 9,435 9,435
Subject to Mandatory Redemption 68,445 68,445
Long-term Debt 1,014,237 13 (20,700) 1,034,937
Total Capitalization 2,159,987 (76,533) 2,236,520
Other Noncurrent Liabilities 613,683 613,683
Current Liabilities:
Long-term Debt Due Within One Year 35,000 35,000
Short-term Debt 119,600 119,600
Accounts Payable:
General 36,729 36,729
Affiliated Companies 48,802 14 (1,362) 50,164
Taxes Accrued 29,713 29,713
Interest Accrued 15,741 15,741
Obligations Under Capital Leases 34,033 34,033
Other 63,250 63,250
Total Current Liabilities 382,868 (1,362) 384,230
Deferred Income Taxes 559,708 559,708
Deferred Investment Tax Credits 138,045 138,045
Deferred Gain on Sale and Leaseback -
Rockport Plant Unit 2 92,419 92,419
Deferred Credits 21,088 14 (27) 21,115
Total $3,967,798 ($77,922) $4,045,720
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
I&M BHCCo PRCCo
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C>
Capitalization:
Common Stock $56,584 $39,521 $27
Paid-in Capital 732,472 1,303
Retained Earnings 278,814 14,982
Total Common Shareholder's Equity 1,067,870 55,806 27
Cumulative Preferred Stock:
Not Subject to Mandatory Redemption 9,435
Subject to Mandatory Redemption 68,445
Long-term Debt 1,014,237 20,700
Total Capitalization 2,159,987 76,506 27
Other Noncurrent Liabilities 613,082 601
Current Liabilities:
Long-term Debt Due Within One Year 35,000
Short-term Debt 119,600
Accounts Payable:
General 36,726 3
Affiliated Companies 50,126 38
Taxes Accrued 29,778 (65)
Interest Accrued 15,741
Obligations Under Capital Leases 34,033
Other 63,246 4
Total Current Liabilities 384,250 (20) 0
Deferred Income Taxes 557,961 1,747
Deferred Investment Tax Credits 138,045
Deferred Gain on Sale and Leaseback -
Rockport Plant Unit 2 92,419
Deferred Credits 13,625 7,490
Total $3,959,369 $86,324 $27
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
OPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization:
Common Stock $321,201 15 ($12) $321,213
Paid-in Capital 462,296 15 (53,565) 515,861
Retained Earnings 590,151 15 (23,413) 613,564
Total Common Shareholder's Equity 1,373,648 (76,990) 1,450,638
Cumulative Preferred Stock:
Not Subject to Mandatory Redemption 17,542 17,542
Subject to Mandatory Redemption 11,850 11,850
Long-term Debt 1,012,031 15 (225) 1,012,256
Total Capitalization 2,415,071 (77,215) 2,492,286
Other Noncurrent Liabilities 295,375 18 1 295,374
Current Liabilities:
Long-term Debt Due Within One Year 83,195 18 (1) 83,196
Short-term Debt 78,700 78,700
Accounts Payable:
General 146,824 146,824
Affiliated Companies 37,923 16 (20,859) 58,782
Taxes Accrued 160,055 160,055
Interest Accrued 16,255 17 (2) 16,257
Obligations Under Capital Leases 30,307 18 1 30,306
Other 94,338 16 (1) 94,339
Total Current Liabilities 647,597 (20,862) 668,459
Deferred Income Taxes 723,172 723,172
Deferred Investment Tax Credits 42,821 42,821
Deferred Credits 39,166 39,166
Total $4,163,202 ($98,076) $4,261,278
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET
December 31, 1997
(in thousands)
OPCo COCCo SOCCo WCCo
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization:
Common Stock $321,201 $7 $5
Paid-in Capital 462,296 44,689 $8,876
Retained Earnings 590,151 23,335 78
Total Common Shareholder's Equity 1,373,648 7 68,029 8,954
Cumulative Preferred Stock:
Not Subject to Mandatory Redemption 17,542
Subject to Mandatory Redemption 11,850
Long-term Debt 924,622 182 80,086 7,366
Total Capitalization 2,327,662 189 148,115 16,320
Other Noncurrent Liabilities 117,950 52,156 102,668 22,600
Current Liabilities:
Long-term Debt Due Within One Year 55,661 104 26,861 570
Short-term Debt 78,700
Accounts Payable:
General 136,725 1,842 5,020 3,237
Affiliated Companies 54,795 1,017 2,113 857
Taxes Accrued 159,643 (282) 735 (41)
Interest Accrued 15,005 1,250 2
Obligations Under Capital Leases 12,002 2,780 14,129 1,395
Other 64,204 10,498 15,655 3,982
Total Current Liabilities 576,735 15,959 65,763 10,002
Deferred Income Taxes 724,695 (24,185) 27,695 (5,033)
Deferred Investment Tax Credits 42,821
Deferred Credits 35,369 2,896 531 370
Total $3,825,232 $47,015 $344,772 $44,259
See Note to Consolidating Financial
Statements on Page C-1.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
AEP ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss) $510,961 1,2,7 ($537,108) $1,048,069
Adjustments for Noncash Items:
Depreciation and Amortization 608,217 7 1 608,216
Deferred Federal Income Taxes (6,549) 3,7 182 (6,731)
Deferred Investment Tax Credits (25,241) 1,7 1,027 (26,268)
Equity in Undistributed Earnings of Affiliated Companies (33,327) 1 (154,355) 121,028
Extraordinary Item - UK Windfall Tax 109,419 1 109,419 0
Amortization of Operating Expenses
and Carrying Charges (net) 12,001 12,001
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (136,186) 5,7 5,014 (141,200)
Fuel, Materials and Supplies (1,427) 7 (1) (1,426)
Accrued Utility Revenues (14,225) 7 2 (14,227)
Accounts Payable 147,029 5,7 (12,803) 159,832
Taxes Accrued (33,402) (33,402)
Other (net) 60,652 2-5 7,296 53,356
Net Cash Flows From (Used For) Operating Activities 1,197,922 (581,326) 1,779,248
INVESTING ACTIVITIES:
Construction Expenditures (760,394) 4,7 7,808 (768,202)
Proceeds from Sales of Property and Other 2,142 4,7 (9,171) 11,313
Investment in Subsidiaries (363,436) 6 190,650 (554,086)
Net Cash Flows Used For Investing Activities (1,121,688) 189,287 (1,310,975)
FINANCING ACTIVITIES:
Capital Contributions From (Returned to) Parent Company 0 6 (190,650) 190,650
Issuance of Common Stock 76,745 76,745
Issuance of Long-term Debt 880,522 880,522
Change in Short-term Debt (net) 235,380 235,380
Retirement of Cumulative Preferred Stock (433,329) (433,329)
Retirement of Long-term Debt (348,157) 7 (1) (348,156)
Dividends Paid on Common Stock (453,453) 1,7 563,187 (1,016,640)
Dividends Paid on Cumulative Preferred Stock 0 2 17,754 (17,754)
Net Cash Flows From (Used For) Financing Activities (42,292) 390,290 (432,582)
Net Increase (Decrease) in Cash and Cash Equivalents 33,942 5 (1,749) 35,691
Cash and Cash Equivalents January 1 57,539 5,7 2,191 55,348
Cash and Cash Equivalents December 31 $91,481 $442 $91,039
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $390,491 $390,491
Income Taxes Paid (Received) $398,833 7 ($2) $398,835
Noncash Acquisitions Under Capital Leases $234,846 $234,846
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
APCo CSPCo I&M
AEP CONSOLIDATED CONSOLIDATED CONSOLIDATED
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss) $510,961 $120,514 $119,379 $146,740
Adjustments for Noncash Items:
Depreciation and Amortization 138,975 90,959 148,630
Deferred Federal Income Taxes (5,117) 5,250 3,922
Deferred Investment Tax Credits (5,181) (4,168) (8,428)
Equity in Undistributed Earnings of Affiliated Companies 44,936
Extraordinary Item - UK Windfall Tax
Amortization of Operating Expenses
and Carrying Charges (net) 16,097 (4,096)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (125) (3,990) (47,966) (10,456)
Fuel, Materials and Supplies 3,950 (4,900) 5,168
Accrued Utility Revenues 635 (19,939) 7,774
Accounts Payable 7,360 10,924 16,459 23,639
Taxes Accrued 614 1,678 (35,687)
Other (net) (7,343) 19,189 (14,109) (16,995)
Net Cash Flows From (Used For) Operating Activities 555,789 280,513 158,740 260,211
INVESTING ACTIVITIES:
Construction Expenditures (218,074) (108,931) (122,360)
Proceeds from Sales of Property and Other 4,971 1,722 2,016
Investment in Subsidiaries (190,650)
Net Cash Flows Used For Investing Activities (190,650) (213,103) (107,209) (120,344)
FINANCING ACTIVITIES:
Capital Contributions From (Returned to) Parent Company 40,000
Issuance of Common Stock 76,745
Issuance of Long-term Debt 183,257 86,172 47,728
Change in Short-term Debt (net) 11,975 69,600 14,800 76,100
Retirement of Cumulative Preferred Stock (183,875) (52,953) (78,877)
Retirement of Long-term Debt (56,379) (14,640) (50,000)
Dividends Paid on Common Stock (453,453) (114,436) (78,684) (131,260)
Dividends Paid on Cumulative Preferred Stock (5,890) (2,734) (5,931)
Net Cash Flows From (Used For) Financing Activities (364,733) (67,723) (48,039) (142,240)
Net Increase (Decrease) in Cash and Cash Equivalents 406 (313) 3,492 (2,373)
Cash and Cash Equivalents January 1 238 7,260 9,134 8,233
Cash and Cash Equivalents December 31 $644 $6,947 $12,626 $5,860
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $2,570 $115,508 $74,248 $62,274
Income Taxes Paid (Received) $117 $71,749 $70,870 $120,212
Noncash Acquisitions Under Capital Leases $15,266 $8,568 $111,395
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
OPCo
KEPCo KGPCo CONSOLIDATED WPCo AEPRESCo
<S> <C> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss) $20,746 $2,015 $208,689 $2,191 $675
Adjustments for Noncash Items:
Depreciation and Amortization 26,486 2,582 172,186 2,774
Deferred Federal Income Taxes 741 249 7,627 (286) 321
Deferred Investment Tax Credits (1,392) (73) (3,487) (44)
Equity in Undistributed Earnings of Affiliated Companies
Extraordinary Item - UK Windfall Tax
Amortization of Operating Expenses
and Carrying Charges (net)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (283) (3,166) (62,371) (722) 1,536
Fuel, Materials and Supplies (2,320) 68 (11,127) 106
Accrued Utility Revenues (4,806) 402 1,266 441
Accounts Payable (6,483) (140) 95,348 (1,098) 480
Taxes Accrued 1,066 39 (2,743) 88 596
Other (net) 7,510 2,921 36,630 2,405 5,697
Net Cash Flows From (Used For) Operating Activities 41,265 4,897 442,018 5,855 9,305
INVESTING ACTIVITIES:
Construction Expenditures (66,642) (5,419) (172,477) (4,254)
Proceeds from Sales of Property and Other 46 8,954 136
Investment in Subsidiaries
Net Cash Flows Used For Investing Activities (66,642) (5,373) (163,523) (4,118) 0
FINANCING ACTIVITIES:
Capital Contributions From (Returned to) Parent Company 20,000 2,000 1,000
Issuance of Common Stock
Issuance of Long-term Debt 47,587 146,590
Change in Short-term Debt (net) (15,175) 375 37,398 (700) (700)
Retirement of Cumulative Preferred Stock (117,624)
Retirement of Long-term Debt (122,127)
Dividends Paid on Common Stock (26,760) (2,255) (199,333) (2,315)
Dividends Paid on Cumulative Preferred Stock (3,199)
Net Cash Flows From (Used For) Financing Activities 25,652 120 (258,295) (2,015) (700)
Net Increase (Decrease) in Cash and Cash Equivalents 275 (356) 20,200 (278) 8,605
Cash and Cash Equivalents January 1 1,106 1,119 24,003 475 152
Cash and Cash Equivalents December 31 $1,381 $763 $44,203 $197 $8,757
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $24,490 $2,684 $81,594 $1,982 $19
Income Taxes Paid (Received) $11,359 $911 $127,719 $2,300 ($311)
Noncash Acquisitions Under Capital Leases $8,653 $675 $53,389 $713
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
AEPR AEPC
AEGCo AEPINV CONSOL. AEPES AEPSC CONSOL.
<S> <C> <C> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss) $8,786 ($34) ($80,294) ($8,993) ($3,306)
Adjustments for Noncash Items:
Depreciation and Amortization 21,614 4,010
Deferred Federal Income Taxes 4,762 13 (14,002) (162) (9,327) (530)
Deferred Investment Tax Credits (3,444) (51)
Equity in Undistributed Earnings of Affiliated Companies 76,092
Extraordinary Item - UK Windfall Tax
Amortization of Operating Expenses
and Carrying Charges (net)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (1,831) 1,072 163 (10,820) 570 (1,016)
Fuel, Materials and Supplies 7,705 (76)
Accrued Utility Revenues
Accounts Payable 3,221 (1) 148 7,154 1,927 745
Taxes Accrued 517 (24) 3,472 1,436 (5,063) 443
Other (net) (5,319) (1,039) 10,434 (110) 13,117 (2)
Net Cash Flows From (Used For) Operating Activities 36,011 (13) (3,987) (11,495) 5,183 (3,742)
INVESTING ACTIVITIES:
Construction Expenditures (3,907) (62,419) (116) (3,603)
Proceeds from Sales of Property and Other (374) (254) (5,904)
Investment in Subsidiaries (363,436)
Net Cash Flows Used For Investing Activities (3,907) (374) (426,109) 0 (116) (9,507)
FINANCING ACTIVITIES:
Capital Contributions From (Returned to) Parent Company (5,000) 250 120,000 1,800 10,600
Issuance of Common Stock
Issuance of Long-term Debt 369,188
Change in Short-term Debt (net) 2,175 26,282 10,500 2,750
Retirement of Cumulative Preferred Stock
Retirement of Long-term Debt (20,010) (80,000) (5,000)
Dividends Paid on Common Stock (8,144)
Dividends Paid on Cumulative Preferred Stock
Net Cash Flows From (Used For) Financing Activities (30,979) 250 435,470 12,300 (5,000) 13,350
Net Increase (Decrease) in Cash and Cash Equivalents 1,125 (137) 5,374 805 67 101
Cash and Cash Equivalents January 1 (888) 227 1,379 25 658 8
Cash and Cash Equivalents December 31 $237 $90 $6,753 $830 $725 $109
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $3,220 $13,912 $345 $7,408 $237
Income Taxes Paid (Received) ($1,698) $12 ($14,838) ($6,114) $15,025 $1,690
Noncash Acquisitions Under Capital Leases $306 $35,881
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
CCCo COpCo FRECo IFRI AEPPM
<S> <C> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss)
Adjustments for Noncash Items:
Depreciation and Amortization
Deferred Federal Income Taxes (9) (183)
Deferred Investment Tax Credits
Equity in Undistributed Earnings of Affiliated Companies
Extraordinary Item - UK Windfall Tax
Amortization of Operating Expenses
and Carrying Charges (net)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) 32 (1,832) 4 1
Fuel, Materials and Supplies
Accrued Utility Revenues
Accounts Payable 25 119 5
Taxes Accrued 1 165
Other (net) 28 348 (1) (5)
Net Cash Flows From (Used For) Operating Activities 77 (1,383) 3 1 0
INVESTING ACTIVITIES:
Construction Expenditures
Proceeds from Sales of Property and Other
Investment in Subsidiaries
Net Cash Flows Used For Investing Activities 0 0 0 0 0
FINANCING ACTIVITIES:
Capital Contributions From (Returned to) Parent Company
Issuance of Common Stock
Issuance of Long-term Debt
Change in Short-term Debt (net)
Retirement of Cumulative Preferred Stock
Retirement of Long-term Debt
Dividends Paid on Common Stock
Dividends Paid on Cumulative Preferred Stock
Net Cash Flows From (Used For) Financing Activities 0 0 0 0 0
Net Increase (Decrease) in Cash and Cash Equivalents 77 (1,383) 3 1 0
Cash and Cash Equivalents January 1 45 2,152 22
Cash and Cash Equivalents December 31 $122 $769 $25 $1 $0
Supplemental Disclosure:
Interest Paid (net of capitalized amounts)
Income Taxes Paid (Received) ($162)
Noncash Acquisitions Under Capital Leases
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
APCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss) $120,514 8 ($1,140) $121,654
Adjustments for Noncash Items:
Depreciation and Amortization 138,975 138,975
Deferred Federal Income Taxes (5,117) (5,117)
Deferred Investment Tax Credits (5,181) (5,181)
Equity in Undistributed Earnings of Affiliated Companies 0 8,11 1,140 (1,140)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (3,990) 9 3,065 (7,055)
Fuel, Materials and Supplies 3,950 3,950
Accrued Utility Revenues 635 635
Accounts Payable 10,924 9,11 (3,373) 14,297
Taxes Accrued 614 614
Other (net) 19,189 9,11 308 18,881
Net Cash Flows From (Used For) Operating Activities 280,513 0 280,513
INVESTING ACTIVITIES:
Construction Expenditures (218,074) (218,074)
Proceeds from Sales of Property and Other 4,971 4,971
Investment in Subsidiaries 0 10 (605) 605
Net Cash Flows From (Used For) Investing Activities (213,103) (605) (212,498)
FINANCING ACTIVITIES:
Capital Contributions From (Returned to) Parent 40,000 10 605 39,395
Issuance of Long-term Debt 183,257 183,257
Change in Short-term Debt (net) 69,600 69,600
Retirement of Cumulative Preferred Stock (183,875) (183,875)
Retirement of Long-term Debt (56,379) (56,379)
Dividends Paid on Common Stock (114,436) (114,436)
Dividends Paid on Cumulative Preferred Stock (5,890) (5,890)
Net Cash Flows From (Used For) Financing Activities (67,723) 605 (68,328)
Net Increase (Decrease) in Cash and Cash Equivalents (313) 0 (313)
Cash and Cash Equivalents January 1 7,260 7,260
Cash and Cash Equivalents December 31 $6,947 $0 $6,947
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $115,508 $115,508
Income Taxes Paid $71,749 $71,749
Noncash Acquisitions Under Capital Leases $15,266 $15,266
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
APCo CeCCo CACCo SACCo WVPCo
<S> <C> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss) $120,514 $450 $81 $603 $6
Adjustments for Noncash Items:
Depreciation and Amortization 138,035 76 864
Deferred Federal Income Taxes (4,742) (262) 108 (221)
Deferred Investment Tax Credits (5,181)
Equity in Undistributed Earnings of Affiliated Companies (1,140)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (3,451)(2,429) (994) (181) 0
Fuel, Materials and Supplies 3,950
Accrued Utility Revenues 635
Accounts Payable 13,008 1,066 59 164
Taxes Accrued 584 22 (6) 17 (3)
Other (net) 17,424 1,063 552 (158)
Net Cash Flows From (Used For) Operating Activities 279,636 (14) (200) 1,088 3
INVESTING ACTIVITIES:
Construction Expenditures (218,074)
Proceeds from Sales of Property and Other 4,960 11
Investment in Subsidiaries 605
Net Cash Flows From (Used For) Investing Activities (212,509) 0 0 11 0
FINANCING ACTIVITIES:
Capital Contributions From (Returned to) Parent 40,000 (605)
Issuance of Long-term Debt 183,257
Change in Short-term Debt (net) 69,600
Retirement of Cumulative Preferred Stock (183,875)
Retirement of Long-term Debt (56,379)
Dividends Paid on Common Stock (114,436)
Dividends Paid on Cumulative Preferred Stock (5,890)
Net Cash Flows From (Used For) Financing Activities (67,723) 0 0 (605) 0
Net Increase (Decrease) in Cash and Cash Equivalents (596) (14) (200) 494 3
Cash and Cash Equivalents January 1 6,299 391 251 95 224
Cash and Cash Equivalents December 31 $5,703 $377 $51 $589 $227
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $115,508
Income Taxes Paid $70,308 $724 ($92) $801 $8
Noncash Acquisitions Under Capital Leases $15,266
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
CSPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income $119,379 12 ($260) $119,639
Adjustments for Noncash Items:
Depreciation and Amortization 90,959 90,959
Deferred Federal Income Taxes 5,250 14 2 5,248
Deferred Investment Tax Credits (4,168) 14 (1) (4,167)
Equity in Undistributed Earnings of Affiliated Companies 0 12 160 (160)
Amortization of Operating Expenses
and Carrying Charges (net) 16,097 16,097
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (47,966) 13,14 (209) (47,757)
Fuel, Materials and Supplies (4,900) (4,900)
Accrued Utility Revenues (19,939) (19,939)
Accounts Payable 16,459 13,14 93 16,366
Taxes Accrued 1,678 14 1 1,677
Other (net) (14,109) 13,14 114 (14,223)
Net Cash Flows From (Used For) Operating Activities 158,740 (100) 158,840
INVESTING ACTIVITIES:
Construction Expenditures (108,931) (108,931)
Proceeds from Sale of Property and Other 1,722 1,722
Investment in Subsidiaries 0 0
Net Cash Flows Used For Investing Activities (107,209) 0 (107,209)
FINANCING ACTIVITIES:
Issuance of Long-term Debt 86,172 86,172
Change in Short-term Debt (net) 14,800 14,800
Retirement of Cumulative Preferred Stock (52,953) (52,953)
Retirement of Long-term Debt (14,640) (14,640)
Dividends Paid on Common Stock (78,684) 12 100 (78,784)
Dividends Paid on Cumulative Preferred Stock (2,734) (2,734)
Net Cash Flows Used For Financing Activities (48,039) 100 (48,139)
Net Increase (Decrease) in Cash and Cash Equivalents 3,492 0 3,492
Cash and Cash Equivalents January 1 9,134 9,134
Cash and Cash Equivalents December 31 $12,626 $0 $12,626
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $74,248 $74,248
Income Taxes Paid $70,870 $70,870
Noncash Acquisitions Under Capital Leases $8,568 $8,568
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
CSPCo COLM CCPC Simco
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income $119,379 $70 $70 $120
Adjustments for Noncash Items:
Depreciation and Amortization 90,830 27 102
Deferred Federal Income Taxes 5,259 21 (32)
Deferred Investment Tax Credits (4,162) (5)
Equity in Undistributed Earnings of Affiliated Companies (160)
Amortization of Operating Expenses
and Carrying Charges (net) 16,097
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (47,926) 11 158
Fuel, Materials and Supplies (4,998) 98
Accrued Utility Revenues (19,939)
Accounts Payable 16,558 15 (232) 25
Taxes Accrued 1,657 (11) 30 1
Other (net) (14,189) 102 (149) 13
Net Cash Flows From (Used For) Operating Activities 158,406 187 23 224
INVESTING ACTIVITIES:
Construction Expenditures (108,881) (50)
Proceeds from Sale of Property and Other 1,722
Investment in Subsidiaries
Net Cash Flows Used For Investing Activities (107,159) 0 0 (50)
FINANCING ACTIVITIES:
Issuance of Long-term Debt 86,172
Change in Short-term Debt (net) 14,800
Retirement of Cumulative Preferred Stock (52,953)
Retirement of Long-term Debt (14,640)
Dividends Paid on Common Stock (78,684) (100)
Dividends Paid on Cumulative Preferred Stock (2,734)
Net Cash Flows Used For Financing Activities (48,039) 0 0 (100)
Net Increase (Decrease) in Cash and Cash Equivalents 3,208 187 23 74
Cash and Cash Equivalents January 1 8,883 83 19 149
Cash and Cash Equivalents December 31 $12,091 $270 $42 $223
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $74,248
Income Taxes Paid $70,669 $28 $54 $119
Noncash Acquisitions Under Capital Leases $8,524 $44
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
I&M ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss) $146,740 15 ($726) $147,466
Adjustments for Noncash Items:
Depreciation and Amortization 148,630 148,630
Deferred Federal Income Taxes 3,922 3,922
Deferred Investment Tax Credits (8,428) (8,428)
Equity in Undistributed Earnings of Affiliated Companies 0 15 726 (726)
Amortization of Operating Expenses
and Carrying Charges (net) (4,096) (4,096)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (10,456) 16 (719) (9,737)
Fuel, Materials and Supplies 5,168 5,168
Accrued Utility Revenues 7,774 7,774
Accounts Payable 23,639 16 (1,191) 24,830
Taxes Accrued (35,687) (35,687)
Other (net) (16,995) 16 1,910 (18,905)
Net Cash Flows From Operating Activities 260,211 0 260,211
INVESTING ACTIVITIES:
Construction Expenditures (122,360) (122,360)
Proceeds from Sales of Property and Other 2,016 2,016
Investment in Subsidiaries 0 17 (7,550) 7,550
Net Cash Flows From (Used For) Investing Activities (120,344) (7,550) (112,794)
FINANCING ACTIVITIES:
Issuance of Long-term Debt 47,728 47,728
Change in Short-term Debt (net) 76,100 76,100
Retirement of Cumulative Preferred Stock (78,877) (78,877)
Retirement of Long-term Debt (50,000) 17 7,550 (57,550)
Dividends Paid on Common Stock (131,260) (131,260)
Dividends Paid on Cumulative Preferred Stock (5,931) (5,931)
Net Cash Flows Used For Financing Activities (142,240) 7,550 (149,790)
Net Increase (Decrease) in Cash and Cash Equivalents (2,373) (2,373)
Cash and Cash Equivalents January 1 8,233 8,233
Cash and Cash Equivalents December 31 $5,860 $0 $5,860
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $62,274 $62,274
Income Taxes Paid (Received) $120,212 $120,212
Noncash Acquisitions Under Capital Leases $111,395 $111,395
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
I&M BHCCo PRCCo
<S> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income (Loss) $146,740 $726
Adjustments for Noncash Items:
Depreciation and Amortization 141,441 7,189
Deferred Federal Income Taxes 2,464 1,457 1
Deferred Investment Tax Credits (8,428)
Equity in Undistributed Earnings of Affiliated Companies (726)
Amortization of Operating Expenses
and Carrying Charges (net) (4,096)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (8,886) (845) (6)
Fuel, Materials and Supplies 5,168
Accrued Utility Revenues 7,774
Accounts Payable 24,876 (47) 1
Taxes Accrued (35,697) 5 5
Other (net) (17,972) (932) (1)
Net Cash Flows From Operating Activities 252,658 7,553 0
INVESTING ACTIVITIES:
Construction Expenditures (122,360)
Proceeds from Sales of Property and Other 2,016
Investment in Subsidiaries 7,550
Net Cash Flows From (Used For) Investing Activities (112,794) 0 0
FINANCING ACTIVITIES:
Issuance of Long-term Debt 47,728
Change in Short-term Debt (net) 76,100
Retirement of Cumulative Preferred Stock (78,877)
Retirement of Long-term Debt (50,000) (7,550)
Dividends Paid on Common Stock (131,260)
Dividends Paid on Cumulative Preferred Stock (5,931)
Net Cash Flows Used For Financing Activities (142,240) (7,550) 0
Net Increase (Decrease) in Cash and Cash Equivalents (2,376) 3
Cash and Cash Equivalents January 1 7,618 615
Cash and Cash Equivalents December 31 $5,242 $618 $0
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $62,274
Income Taxes Paid (Received) $116,231 $3,981
Noncash Acquisitions Under Capital Leases $111,395
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
OPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income $208,689 18 ($5,455) $214,144
Adjustments for Noncash Items:
Depreciation and Amortization 172,186 172,186
Deferred Federal Income Taxes 7,627 21 2 7,625
Deferred Investment Tax Credits (3,487) (3,487)
Equity in Undistributed Earnings of Affiliated Companies 0 18 (2,119) 2,119
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (62,371) 19,21 (7,409) (54,962)
Fuel, Materials and Supplies (11,127) 21 2 (11,129)
Accrued Utility Revenues 1,266 21 (1) 1,267
Accounts Payable 95,348 19,21 4,053 91,295
Taxes Accrued (2,743) (2,743)
Other (net) 36,630 19,20,21 1,854 34,776
Net Cash Flows From (Used for) Operating Activities 442,018 (9,073) 451,091
INVESTING ACTIVITIES:
Construction Expenditures (172,477) 21 (2) (172,475)
Proceeds from Sales of Property and Other 8,954 21 1 8,953
Investment in Subsidiaries 0 20,21 (49,142) 49,142
Net Cash Flows From (Used for) Investing Activities (163,523) (49,143) (114,380)
FINANCING ACTIVITIES:
Issuance of Long-term Debt 146,590 146,590
Change in Short-term Debt (net) 37,398 20 1,500 35,898
Retirement of Cumulative Preferred Stock (117,624) (117,624)
Retirement of Long-term Debt (122,127) (122,127)
Return of Capital Contributions to Parent Company 0 20 49,141 (49,141)
Dividends Paid on Common Stock (199,333) 18 7,574 (206,907)
Dividends Paid on Cumulative Preferred Stock (3,199) (3,199)
Net Cash Flows From (Used For) Financing Activities (258,295) 58,215 (316,510)
Net Increase (Decrease) in Cash and Cash Equivalents 20,200 (1) 20,201
Cash and Cash Equivalents January 1 24,003 24,003
Cash and Cash Equivalents December 31 $44,203 21 ($1) $44,204
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $81,594 22 ($35) $81,629
Income Taxes Paid $127,719 $127,719
Noncash Acquisitions Under Capital Leases $53,389 $53,389
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 1997
(in thousands)
OPCo COCCo SOCCo WCCo
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net Income $208,689 $0 $4,295 $1,160
Adjustments for Noncash Items:
Depreciation and Amortization 140,807 3,771 23,167 4,441
Deferred Federal Income Taxes 22,462 (2,952) (8,359) (3,526)
Deferred Investment Tax Credits (3,487)
Equity in Undistributed Earnings of Affiliated Companies 2,119
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (net) (56,382) (5,780) 6,740 460
Fuel, Materials and Supplies (11,792) 1,559 (214) (682)
Accrued Utility Revenues 1,267
Accounts Payable 88,703 612 163 1,817
Taxes Accrued (2,139) (878) 480 (206)
Other (net) (7,403) 19,748 15,500 6,931
Net Cash Flows From (Used for) Operating Activities 382,844 16,080 41,772 10,395
INVESTING ACTIVITIES:
Construction Expenditures (159,338) (9,940) (2,241) (956)
Proceeds from Sales of Property and Other 8,989 1 (40) 3
Investment in Subsidiaries 49,142
Net Cash Flows From (Used for) Investing Activities (101,207) (9,939) (2,281) (953)
FINANCING ACTIVITIES:
Issuance of Long-term Debt 96,490 50,100
Change in Short-term Debt (net) 37,398 - (1,500) -
Retirement of Cumulative Preferred Stock (117,624) - - -
Retirement of Long-term Debt (96,620) (104) (24,834) (569)
Return of Capital Contributions to Parent Company (47,141) (2,000)
Dividends Paid on Common Stock (199,333) (200) (5,024) (2,350)
Dividends Paid on Cumulative Preferred Stock (3,199)
Net Cash Flows From (Used For) Financing Activities (282,888) (304) (28,399) (4,919)
Net Increase (Decrease) in Cash and Cash Equivalents (1,251) 5,837 11,092 4,523
Cash and Cash Equivalents January 1 6,003 8,498 5,565 3,937
Cash and Cash Equivalents December 31 $4,752 $14,335 $16,657 $8,460
Supplemental Disclosure:
Interest Paid (net of capitalized amounts) $76,581 $0 $5,034 $14
Income Taxes Paid $103,528 $3,818 $14,704 $5,669
Noncash Acquisitions Under Capital Leases $19,447 $256 $32,001 $1,685
See Note to Consolidating Financial Statements on Page C-1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
DECEMBER 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
AEP ENTRY AND COMBINED APCO
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP CONSOLIDATED
<S> <C> <C> <C> <C> <C> <C>
Retained Earnings January 1 $1,547,746 ($1,238,349) $2,786,095 $1,547,746 $208,472
Net Income 510,961 A (537,108) 1,048,069 510,961 120,514
2,058,707 (1,775,457) 3,834,164 2,058,707 328,986
Deductions:
Cash Dividends Declared on Common Stock:
American Electric Power Company, Inc.
($2.40 per Share) 453,453 453,453 453,453
Subsidiary Companies 0 B (563,187) 563,187 114,436
Cash Dividends Declared on Cumulative
Preferred Stocks 0 B (12,927) 12,927 3,221
Other 237 C (5,141) 5,378 237 3,785
Retained Earnings December 31 $1,605,017 C ($1,194,202) $2,799,219 $1,605,017 $207,544
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
DECEMBER 31, 1997
(in thousands)
CSPCo I&M OPCo
CONSOLIDATED CONSOLIDATED KEPCo KGPCo CONSOLIDATED WPCo
<S> <C> <C> <C> <C> <C> <C>
Retained Earnings January 1 $99,582 $269,071 $84,090 $7,607 $584,015 $6,048
Net Income 119,379 146,740 20,746 2,015 208,689 2,191
218,961 415,811 104,836 9,622 792,704 8,239
Deductions:
Cash Dividends Declared on Common Stock:
American Electric Power Company, Inc.
($2.40 per Share)
Subsidiary Companies 78,684 131,260 26,760 2,255 199,333 2,315
Cash Dividends Declared on Cumulative
Preferred Stocks 1,750 4,757 3,199
Other 355 980 21
Retained Earnings December 31 $138,172 $278,814 $78,076 $7,367 $590,151 $5,924
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
DECEMBER 31, 1997
(in thousands)
AEPR AEPC
AEPRESCo AEGCo AEPINV CONSOLIDATED AEPES AEPSC CONSOL. CCCo
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Retained Earnings January 1 ($3,111) $1,886 ($8,834) ($7,465) ($2,981) ($224)
Net Income 675 8,786 (34) (80,294) ($8,993) (3,306)
(2,436) 10,672 (8,868) (87,759) (11,974) 0 (3,530) 0
Deductions:
Cash Dividends Declared on Common Stock:
American Electric Power Company, Inc.
($2.40 per Share)
Subsidiary Companies 8,144
Cash Dividends Declared on Cumulative
Preferred Stocks
Other
Retained Earnings December 31 ($2,436) $2,528 ($8,868) ($87,759)($11,974) $0 ($3,530) $0
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN ELECTRIC POWER COMPANY, INC.
AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
DECEMBER 31, 1997
(in thousands)
COpCo FRECo IFRI AEPPM
<S> <C> <C> <C> <C>
Retained Earnings January 1 $173 $20
Net Income
173 20 0 0
Deductions:
Cash Dividends Declared on Common Stock:
American Electric Power Company, Inc.
($2.40 per Share)
Subsidiary Companies
Cash Dividends Declared on Cumulative
Preferred Stocks
Other
Retained Earnings December 31 $173 $20 $0 $0
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
APCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
Retained Earnings January 1 $208,472 $7,803 $200,669
Net Income 120,514 A (1,140) 121,654
328,986 6,663 322,323
Deductions:
Cash Dividends Declared on Common Stock 114,436 B 114,436
Cash Dividends Declared on Cumulative
Preferred Stocks 3,221 3,221
Other 3,785 3,785
Retained Earnings December 31 $207,544 C $6,663 $200,881
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED
YEAR ENDED DECEMBER 31, 1997
(in thousands)
APCo CeCCo CACCo SACCo WVPCo
<S> <C> <C> <C> <C> <C>
Retained Earnings January 1 $208,472 ($4,023) ($285) ($3,534) $39
Net Income 120,514 450 81 603 6
328,986 (3,573) (204) (2,931) 45
Deductions:
Cash Dividends Declared on Common Stock 114,436
Cash Dividends Declared on Cumulative
Preferred Stocks 3,221
Other 3,785
Retained Earnings December 31 $207,544 ($3,573) ($204) ($2,931) $45
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
CSPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
Retained Earnings January 1 $99,582 ($2,027) $101,609
Net Income 119,379 A (260) 119,639
218,961 (2,287) 221,248
Deductions:
Cash Dividends Declared on Common Stock 78,684 B (100) 78,784
Cash Dividends Declared on Cumulative
Preferred Stocks 1,750 1,750
Other 355 355
Retained Earnings December 31 $138,172 C ($2,187) $140,359
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
CSPCo COLM CCPC Simco
<S> <C> <C> <C> <C>
Retained Earnings January 1 $99,582 $1,155 $750 $122
Net Income 119,379 70 70 120
218,961 1,225 820 242
Deductions:
Cash Dividends Declared on Common Stock 78,684 100
Cash Dividends Declared on Cumulative
Preferred Stocks 1,750
Other 355
Retained Earnings December 31 $138,172 $1,225 $820 $142
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
I&M ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
Retained Earnings January 1 $269,071 ($14,256)$283,327
Net Income 146,740 A (726) 147,466
415,811 (14,982) 430,793
Deductions:
Cash Dividends Declared on Common Stock 131,260 B 0 131,260
Cash Dividends Declared on Cumulative
Preferred Stocks 4,757 4,757
Other 980 980
Retained Earnings December 31 $278,814 C ($14,982)$293,796
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
I&M BHCCo PRCCo
<S> <C> <C> <C>
Retained Earnings January 1 $269,071 $14,256 $0
Net Income 146,740 726
415,811 14,982 0
Deductions:
Cash Dividends Declared on Common Stock 131,260 0
Cash Dividends Declared on Cumulative
Preferred Stocks 4,757
Other 980
Retained Earnings December 31 $278,814 $14,982 $0
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
JOURNAL ELIMINATIONS
OPCo ENTRY AND COMBINED
CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL
<S> <C> <C> <C> <C>
Retained Earnings January 1 $584,015 ($25,532) $609,547
Net Income 208,689 A (5,455) 214,144
792,704 (30,987) 823,691
Deductions:
Cash Dividends Declared on Common Stock 199,333 B (7,574) 206,907
Cash Dividends Declared on Cumulative
Preferred Stocks 3,199 3,199
Other 21 21
Retained Earnings December 31 $590,151 C ($23,413) $613,564
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
OPCo COCCo SOCCo WCCo
<S> <C> <C> <C> <C>
Retained Earnings January 1 $584,015 $200 $24,064 $1,268
Net Income 208,689 4,295 1,160
792,704 200 28,359 2,428
Deductions:
Cash Dividends Declared on Common Stock 199,333 200 5,024 2,350
Cash Dividends Declared on Cumulative
Preferred Stocks 3,199
Other 21
Retained Earnings December 31 $590,151 $0 $23,335 $78
See Note to Consolidating Financial Statements on Page C-1.
A See Consolidating Statement of Income.
B See Consolidating Statement of Cash Flows.
C See Consolidating Balance Sheet.
</TABLE>
<PAGE>
Note to Consolidating Financial Statements.
Notes to financial statements are incorporated herein by reference
to the 1997 Annual Report on Form 10-K filed by the respective
companies reporting to the Securities and Exchange Commission
pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934.
C-1
<PAGE>
CARDINAL OPERATING COMPANY
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
OPERATING EXPENSES:
Fuel. . . . . . . . . . . . . . . . . . . . . . . . . $177,919
Other Operation . . . . . . . . . . . . . . . . . . . 13,306
Maintenance . . . . . . . . . . . . . . . . . . . . . 20,617
Taxes Other Than Federal Income Taxes . . . . . . . . 1,043
TOTAL OPERATING EXPENSES. . . . . . . . . . . $212,885
REIMBURSED BY:
Ohio Power Company. . . . . . . . . . . . . . . . . . $101,962
Buckeye Power, Inc. . . . . . . . . . . . . . . . . . 110,923
TOTAL . . . . . . . . . . . . . . . . . . . . $212,885
RETAINED EARNINGS . . . . . . . . . . . . . . . . . . . None
D-1<PAGE>
CARDINAL OPERATING COMPANY
BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
ASSETS
INVESTMENTS . . . . . . . . . . . . . . . . . . . . . . $ 3
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . . . . . 21
Accounts Receivable:
Affiliated Companies. . . . . . . . . . . . . . . . 22,054
Miscellaneous . . . . . . . . . . . . . . . . . . . 110
Other . . . . . . . . . . . . . . . . . . . . . . . . 61
TOTAL CURRENT ASSETS. . . . . . . . . . . . . 22,246
DEFERRED CHARGES:
Other Work in Progress. . . . . . . . . . . . . . . . 1,602
Other . . . . . . . . . . . . . . . . . . . . . . . . 278
TOTAL DEFERRED CHARGES. . . . . . . . . . . . 1,880
TOTAL . . . . . . . . . . . . . . . . . . . $24,129
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock - Par Value $1:
Authorized - 500 Shares
Outstanding - 500 Shares. . . . . . . . . . . . . . $ 1
Advances from Affiliated Companies. . . . . . . . . . 400
TOTAL CAPITALIZATION. . . . . . . . . . . . . 401
OTHER NONCURRENT LIABILITIES. . . . . . . . . . . . . . 2,844
CURRENT LIABILITIES:
Accounts Payable:
General . . . . . . . . . . . . . . . . . . . . . . 11,930
Affiliated Companies. . . . . . . . . . . . . . . . 8,322
Other . . . . . . . . . . . . . . . . . . . . . . . . 631
TOTAL CURRENT LIABILITIES . . . . . . . . . . 20,883
DEFERRED CREDITS. . . . . . . . . . . . . . . . . . . . 1
TOTAL . . . . . . . . . . . . . . . . . . . $24,129
D-2<PAGE>
CARDINAL OPERATING COMPANY
STATEMENT OF CASH FLOWS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
OPERATING ACTIVITIES:
Net Income. . . . . . . . . . . . . . . . . . . . . . $ -
Changes in Certain Current Assets and Liabilities:
Accounts Receivable . . . . . . . . . . . . . . . . 3,180
Accounts Payable. . . . . . . . . . . . . . . . . . (5,362)
Decrease in Other Work in Progress. . . . . . . . . . 2,274
Other (net) . . . . . . . . . . . . . . . . . . . . . (92)
Net Cash Flows From Operating Activities . . . . . -
Net Increase in Cash and Cash Equivalents . . . . . . -
Cash and Cash Equivalents January 1 . . . . . . . . . 21
Cash and Cash Equivalents December 31 . . . . . . . . $ 21
D-3<PAGE>
INDIANA-KENTUCKY ELECTRIC CORPORATION
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
OPERATING REVENUES. . . . . . . . . . . . . . . . . . . $148,265
OPERATING EXPENSES:
Fuel. . . . . . . . . . . . . . . . . . . . . . . . . 106,121
Other Operation . . . . . . . . . . . . . . . . . . . 16,904
Maintenance . . . . . . . . . . . . . . . . . . . . . 16,099
Depreciation. . . . . . . . . . . . . . . . . . . . . 6,061
Taxes Other Than Federal Income Taxes . . . . . . . . 3,094
TOTAL OPERATING EXPENSES. . . . . . . . . . . 148,279
OPERATING LOSS. . . . . . . . . . . . . . . . . . . . . (14)
NONOPERATING INCOME . . . . . . . . . . . . . . . . . . 14
NET INCOME AND RETAINED EARNINGS. . . . . . . . . . . . None
D-4<PAGE>
INDIANA-KENTUCKY ELECTRIC CORPORATION
BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
ASSETS
ELECTRIC UTILITY PLANT:
Electric Plant (at cost). . . . . . . . . . . . . . . $396,357
Construction Work in Progress . . . . . . . . . . . . 2,937
Total Electric Utility Plant. . . . . . . . . 399,294
Accumulated Depreciation and Amortization . . . . . . 336,299
NET ELECTRIC UTILITY PLANT. . . . . . . . . . 62,995
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . . . . . 58
Accounts Receivable . . . . . . . . . . . . . . . . . 29
Coal in Storage - at average cost . . . . . . . . . . 10,948
Coal Sold Under Agreement to Repurchase . . . . . . . 8,000
Materials and Supplies - at average cost. . . . . . . 9,146
Prepayments and Other . . . . . . . . . . . . . . . . 1,086
TOTAL CURRENT ASSETS. . . . . . . . . . . . . 29,267
FUTURE FEDERAL INCOME TAX BENEFITS. . . . . . . . . . . 51,019
REGULATORY ASSETS . . . . . . . . . . . . . . . . . . . 24,247
DEFERRED CHARGES. . . . . . . . . . . . . . . . . . . . 6,710
TOTAL . . . . . . . . . . . . . . . . . . . $174,238
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock, No Par Value
Authorized - 100,000 Shares
Outstanding - 17,000 Shares . . . . . . . . . . . . $ 3,400
CURRENT LIABILITIES:
Accounts Payable. . . . . . . . . . . . . . . . . . . 15,481
Coal Repurchase Obligation. . . . . . . . . . . . . . 8,000
Taxes Accrued . . . . . . . . . . . . . . . . . . . . 1,978
Interest Accrued and Other. . . . . . . . . . . . . . 2,104
TOTAL CURRENT LIABILITIES . . . . . . . . . . 27,563
AMOUNTS DUE TO CUSTOMERS FOR FEDERAL INCOME TAXES . . . 51,019
POSTRETIREMENT BENEFIT OBLIGATION . . . . . . . . . . . 18,500
ADVANCES FROM PARENT COMPANY FOR CONSTRUCTION . . . . . 64,488
DEFERRED CREDITS. . . . . . . . . . . . . . . . . . . . 9,268
TOTAL . . . . . . . . . . . . . . . . . . . $174,238
D-5<PAGE>
INDIANA-KENTUCKY ELECTRIC CORPORATION
STATEMENT OF CASH FLOWS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
OPERATING ACTIVITIES:
Net Income. . . . . . . . . . . . . . . . . . . . . . $ -
Adjustments for Noncash Items:
Depreciation. . . . . . . . . . . . . . . . . . . . 6,061
Changes in Certain Current Assets and Liabilities:
Accounts Receivable . . . . . . . . . . . . . . . 34
Coal, Materials and Supplies. . . . . . . . . . . 2,828
Accounts Payable. . . . . . . . . . . . . . . . . 3,170
Other (net) . . . . . . . . . . . . . . . . . . . . (2,223)
Net Cash Flows From Operating Activities . . . . 9,870
INVESTING ACTIVITIES:
Construction Expenditures . . . . . . . . . . . . . . (8,637)
Reimbursement for Plant Replacements and
Additional Facilities. . . . . . . . . . . . . . . . 7,313
Advances Returned to Parent . . . . . . . . . . . . . (6,061)
Net Cash Flows Used For Investing Activities . . (7,385)
FINANCING ACTIVITIES - Coal Purchase Obligation . . . . (3,000)
Net Decrease in Cash and Cash Equivalents . . . . . . (515)
Cash and Cash Equivalents January 1 . . . . . . . . . 573
Cash and Cash Equivalents December 31 . . . . . . . . $ 58
Supplemental Disclosure:
Interest Paid (net of capitalized amounts). . . . . . $719
D-6<PAGE>
OHIO VALLEY ELECTRIC CORPORATION
STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1997
(in thousands)
OPERATING REVENUES. . . . . . . . . . . . . . . . . . . $301,460
OPERATING EXPENSES:
Fuel. . . . . . . . . . . . . . . . . . . . . . . . . 98,556
Purchased Power . . . . . . . . . . . . . . . . . . . 148,963
Other Operation . . . . . . . . . . . . . . . . . . . 21,072
Maintenance . . . . . . . . . . . . . . . . . . . . . 15,472
Taxes Other Than Federal Income Taxes . . . . . . . . 5,040
Federal Income Taxes. . . . . . . . . . . . . . . . . 4,641
TOTAL OPERATING EXPENSES. . . . . . . . . . . 293,744
OPERATING INCOME. . . . . . . . . . . . . . . . . . . . 7,716
NONOPERATING INCOME . . . . . . . . . . . . . . . . . . 453
INCOME BEFORE INTEREST CHARGES. . . . . . . . . . . . . 8,169
INTEREST CHARGES. . . . . . . . . . . . . . . . . . . . 6,061
NET INCOME. . . . . . . . . . . . . . . . . . . . . . . $ 2,108
OHIO VALLEY ELECTRIC CORPORATION
STATEMENT OF RETAINED EARNINGS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
RETAINED EARNINGS JANUARY 1 . . . . . . . . . . . . . . $2,431
NET INCOME. . . . . . . . . . . . . . . . . . . . . . . 2,108
CASH DIVIDENDS DECLARED . . . . . . . . . . . . . . . . 2,475
RETAINED EARNINGS DECEMBER 31 . . . . . . . . . . . . . $2,064
D-7<PAGE>
OHIO VALLEY ELECTRIC CORPORATION
BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
ASSETS
ELECTRIC UTILITY PLANT:
Electric Plant (at cost). . . . . . . . . . . . . . . $289,591
Construction Work in Progress . . . . . . . . . . . . 2,067
Total Electric Utility Plant. . . . . . . . . 291,658
Accumulated Depreciation and Amortization . . . . . . 286,058
NET ELECTRIC UTILITY PLANT. . . . . . . . . . 5,600
INVESTMENTS AND OTHER . . . . . . . . . . . . . . . . . 67,888
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . . . . . 5,325
Accounts Receivable . . . . . . . . . . . . . . . . . 26,186
Coal in Storage - at average cost . . . . . . . . . . 3,869
Coal Sold Under Agreement to Repurchase . . . . . . . 8,000
Materials and Supplies - at average cost. . . . . . . 10,315
Prepayments and Other . . . . . . . . . . . . . . . . 10,508
TOTAL CURRENT ASSETS. . . . . . . . . . . . . 64,203
FUTURE FEDERAL INCOME TAX BENEFITS. . . . . . . . . . . 19,174
REGULATORY ASSETS . . . . . . . . . . . . . . . . . . . 29,551
DEFERRED CHARGES. . . . . . . . . . . . . . . . . . . . 4,001
TOTAL . . . . . . . . . . . . . . . . . . . $190,417
D-8<PAGE>
OHIO VALLEY ELECTRIC CORPORATION
BALANCE SHEET
DECEMBER 31, 1997
(in thousands)
CAPITALIZATION AND LIABILITIES
SHAREHOLDERS' EQUITY:
Common Stock - Par Value $100:
Authorized - 300,000 Shares
Outstanding - 100,000 Shares. . . . . . . . . . . . $ 10,000
Retained Earnings . . . . . . . . . . . . . . . . . . 2,064
Total Shareowners' Equity . . . . . . . . . . 12,064
Long-term Debt - Notes Payable. . . . . . . . . . . . 58,201
TOTAL CAPITALIZATION. . . . . . . . . . . . . 70,265
CURRENT LIABILITIES:
Long-term Debt Due Within One Year. . . . . . . . . . 14,065
Short-term Debt . . . . . . . . . . . . . . . . . . . 20,000
Coal Purchase Obligation. . . . . . . . . . . . . . . 8,000
Accounts Payable. . . . . . . . . . . . . . . . . . . 8,549
Taxes Accrued . . . . . . . . . . . . . . . . . . . . 14,794
Interest Accrued and Other. . . . . . . . . . . . . . 2,356
TOTAL CURRENT LIABILITIES . . . . . . . . . . 67,764
INVESTMENT TAX CREDITS. . . . . . . . . . . . . . . . . 10,610
POSTRETIREMENT BENEFIT OBLIGATION . . . . . . . . . . . 18,338
AMOUNTS DUE TO CUSTOMERS FOR FEDERAL INCOME TAXES . . . 14,752
OTHER REGULATORY LIABILITIES AND DEFERRED CREDITS . . . 8,688
TOTAL . . . . . . . . . . . . . . . . . . . $190,417
D-9<PAGE>
OHIO VALLEY ELECTRIC CORPORATION
STATEMENT OF CASH FLOWS
YEAR ENDED DECEMBER 31, 1997
(in thousands)
OPERATING ACTIVITIES:
Net Income. . . . . . . . . . . . . . . . . . . . . . $ 2,108
Adjustments for Noncash Items:
Future Federal Income Tax Benefits. . . . . . . . . (5,755)
Changes in Certain Current Assets and Liabilities:
Accounts Receivable . . . . . . . . . . . . . . . (4,726)
Coal, Materials and Supplies. . . . . . . . . . . 3,114
Accounts Payable. . . . . . . . . . . . . . . . . (2,095)
Other (net) . . . . . . . . . . . . . . . . . . . . (6,794)
Net Cash Flows Used For Operating Activities . . (14,148)
INVESTING ACTIVITIES:
Construction Expenditures . . . . . . . . . . . . . . (20,317)
Reimbursement for Plant Replacements and
Additional Facilities. . . . . . . . . . . . . . . . 20,729
Advances Returned from Subsidiary . . . . . . . . . . 6,061
Net Cash Flows From Investing Activities . . . . 6,473
FINANCING ACTIVITIES:
Change in Short-term Debt (net) . . . . . . . . . . . 20,000
Retirement of Long-term Debt. . . . . . . . . . . . . (6,961)
Dividends Paid. . . . . . . . . . . . . . . . . . . . (2,475)
Net Cash Flows From Financing Activities . . . . 10,564
Net Increase in Cash and Cash Equivalents . . . . . . 2,889
Cash and Cash Equivalents January 1 . . . . . . . . . 2,436
Cash and Cash Equivalents December 31 . . . . . . . . $ 5,325
Supplemental Disclosure:
Interest Paid (net of capitalized amounts). . . . . . $6,420
Income Taxes Paid . . . . . . . . . . . . . . . . . . $1,580
D-10<PAGE>
YORKSHIRE POWER GROUP CONSOLIDATED
STATEMENT OF INCOME
NINE MONTHS ENDED DECEMBER 31, 1997
(in millions)
OPERATING REVENUES. . . . . . . . . . . . . . . . . $1,492.9
COST OF SALES . . . . . . . . . . . . . . . . . . . 1,014.2
GROSS PROFIT. . . . . . . . . . . . . . . . . . . . 478.7
OPERATING COSTS . . . . . . . . . . . . . . . . . . 276.4
OPERATING INCOME. . . . . . . . . . . . . . . . . . 202.3
NONOPERATING INCOME (NET) . . . . . . . . . . . . . 3.7
INCOME BEFORE INTEREST CHARGES. . . . . . . . . . . 206.0
INTEREST CHARGES. . . . . . . . . . . . . . . . . . 128.7
INCOME BEFORE TAXES . . . . . . . . . . . . . . . . 77.3
TAXES . . . . . . . . . . . . . . . . . . . . . . . 9.8
INCOME BEFORE EXTRAORDINARY ITEM. . . . . . . . . . 67.5
EXTRAORDINARY LOSS - WINDFALL TAX . . . . . . . . . 218.8
NET LOSS. . . . . . . . . . . . . . . . . . . . . . $ (151.3)
YORKSHIRE POWER GROUP CONSOLIDATED
STATEMENT OF RETAINED EARNINGS
NINE MONTHS ENDED DECEMBER 31, 1997
(in millions)
RETAINED EARNINGS APRIL 1 . . . . . . . . . . . . . $ -
NET LOSS. . . . . . . . . . . . . . . . . . . . . . (151.3)
CASH DIVIDENDS DECLARED . . . . . . . . . . . . . . -
RETAINED EARNINGS DECEMBER 31 (DEFICIT) . . . . . . $(151.3)
D-11<PAGE>
YORKSHIRE POWER GROUP CONSOLIDATED
BALANCE SHEET
DECEMBER 31, 1997
(in millions)
ASSETS
ELECTRIC UTILITY PLANT:
Property, Plant and Equipment . . . . . . . . . . . $1,644.6
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . . . . 193.7
Accounts Receivable . . . . . . . . . . . . . . . . 334.4
Other Current Assets. . . . . . . . . . . . . . . . 74.1
TOTAL CURRENT ASSETS. . . . . . . . . . . . 602.2
DEFERRED DEBITS . . . . . . . . . . . . . . . . . . . 1,895.4
TOTAL . . . . . . . . . . . . . . . . . . $4,142.2
CAPITALIZATION AND LIABILITIES
SHAREHOLDERS' EQUITY:
Common Stock. . . . . . . . . . . . . . . . . . . . $ 714.2
Other Paid-in Capital . . . . . . . . . . . . . . . (20.8)
Retained Earnings (Deficit) . . . . . . . . . . . . (151.3)
Total Shareowners' Equity . . . . . . . . . 542.1
Long-term Debt. . . . . . . . . . . . . . . . . . . 704.3
TOTAL CAPITALIZATION. . . . . . . . . . . . 1,246.4
OTHER NONCURRENT LIABILITIES. . . . . . . . . . . . . 488.7
CURRENT LIABILITIES . . . . . . . . . . . . . . . . . 2,407.1
TOTAL . . . . . . . . . . . . . . . . . . $4,142.2
D-12<PAGE>
YORKSHIRE POWER GROUP CONSOLIDATED
STATEMENT OF CASH FLOWS
NINE MONTHS ENDED DECEMBER 31, 1997
(in millions)
NET CASH FLOWS FROM OPERATING ACTIVITIES. . . . . . $ 102.7
INVESTING ACTIVITIES:
Construction Expenditures . . . . . . . . . . . . (211.8)
Loans Repaid By Associates. . . . . . . . . . . . 1.6
Proceeds From Property, Plant & Equipment Sales . 33.2
Purchases of Long-term Investments. . . . . . . . (13.1)
Proceeds From Sale of Long-term Investments . . . 41.1
Purchase of Yorkshire Electricity Group plc . . . (2,421.2)
Purchase of Short-term Investments. . . . . . . . (16.4)
Net Cash Flows Used For Investing Activities (2,586.6)
FINANCING ACTIVITIES:
Issuance of Common Stock. . . . . . . . . . . . . 722.8
Change in Short-term Debt (net) . . . . . . . . . 1,598.3
Retirement of Long-term Debt. . . . . . . . . . . (6.6)
Net Cash Flows From Financing Activities . . 2,314.5
Net Decrease in Cash and Cash Equivalents . . . . (169.4)
Cash and Cash Equivalents April 1 . . . . . . . . 363.1
Cash and Cash Equivalents December 31 . . . . . . $ 193.7
Supplemental Disclosure:
Interest Paid (net of capitalized amounts). . . . $108.3
Income Taxes Paid . . . . . . . . . . . . . . . . $116.6
D-13
<PAGE>
EXHIBIT A
Incorporation By Reference
Form 10K
Annual Report
Year File Number
AEP 1997 1-3525
AEGCo 1997 0-18135
APCo 1997 1-3457
CSPCo 1997 1-2680
I&M 1997 1-3570
KEPCo 1997 1-6858
OPCo 1997 1-6543
E
<PAGE>
EXHIBIT INDEX
EXHIBIT B & C
The following exhibits have been filed with the Commission and,
pursuant to 17 C.F.R. Section 229.10(d) and Section 240.12b-32, are
incorporated herein by reference to the documents indicated in brackets
following the descriptions of such exhibits. Certain of the following
exhibits, designated with an asterisk (*), were filed with the Form 10-K
Annual Report for 1997 and are also incorporated by reference. Exhibits
designated with a dagger (!), are management contracts or compensatory plans
or arrangements required to be filed as an exhibit to this form pursuant to
Item 14(c) of the Form 10-K.
Exhibit Number Description
AEGCo
3(a) Copy of Articles of Incorporation of AEGCo [Registration
Statement on Form 10 for the Common Shares of AEGCo, File
No. 0-18135, Exhibit 3(a)].
3(b) Copy of the Code of Regulations of AEGCo [Registration
Statement on Form 10 for the Common Shares of AEGCo, File
No. 0-18135, Exhibit 3(b)].
10(a) Copy of Capital Funds Agreement dated as of December 30,
1988 between AEGCo and AEP [Registration Statement No. 33-
32752, Exhibit 28(a)].
10(b)(1) Copy of Unit Power Agreement dated as of March 31, 1982
between AEGCo and I&M, as amended [Registration Statement
No. 33-32752, Exhibits 28(b)(1)(A) and 28(b)(1)(B)].
10(b)(2) Copy of Unit Power Agreement, dated as of August 1, 1984,
among AEGCo, I&M and KEPCo [Registration Statement No. 33-
32752, Exhibit 28(b)(2)].
10(b)(3) Copy of Agreement, dated as of October 1, 1984, among AEGCo,
I&M, APCo and Virginia Electric and Power Company
[Registration Statement No. 33-32752, Exhibit 28(b)(3)].
10(c) Copy of Lease Agreements, dated as of December 1, 1989,
between AEGCo and Wilmington Trust Company, as amended
[Registration Statement No. 33-32752, Exhibits 28(c)(1)(C),
28(c)(2)(C), 28(c)(3)(C), 28(c)(4)(C), 28(c)(5)(C) and
28(c)(6)(C); Annual Report on Form 10-K of AEGCo for the
fiscal year ended December 31, 1993, File No. 0-18135,
Exhibits 10(c)(1)(B), 10(c)(2)(B), 10(c)(3)(B), 10(c)(4)(B),
10(c)(5)(B) and 10(c)(6)(B)].
* 13 Copy of those portions of the AEGCo 1997 Annual Report (for
the fiscal year ended December 31, 1997) which are
incorporated by reference in this filing.
* 24 Power of Attorney.
* 27 Financial Data Schedules.
AEP!!
3(a) Copy of Restated Certificate of Incorporation of AEP, dated
October 29, 1997 [Quarterly Report on Form 10-Q of AEP for
the quarter ended September 30, 1997, Exhibit 3(a)].
* 3(b) Copy of By-Laws of AEP, as amended through January 28, 1998.
10(a) Interconnection Agreement, dated July 6, 1951, among APCo,
CSPCo, KEPCo, OPCo and I&M and with the Service Corporation,
as amended [Registration Statement No. 2-52910, Exhibit
5(a); Registration Statement No. 2-61009, Exhibit 5(b); and
Annual Report on Form 10-K of AEP for the fiscal year ended
December 31, 1990, File No. 1-3525, Exhibit 10(a)(3)].
10(b) Copy of Transmission Agreement, dated April 1, 1984, among
APCo, CSPCo, I&M, KEPCo, OPCo and with the Service
Corporation as agent, as amended [Annual Report on Form 10-K
of AEP for the fiscal year ended December 31, 1985, File No.
1-3525, Exhibit 10(b); and Annual Report on Form 10-K of AEP
for the fiscal year ended December 31, 1988, File No. 1-
3525, Exhibit 10(b)(2)].
10(c) Copy of Lease Agreements, dated as of December 1, 1989,
between AEGCo or I&M and Wilmington Trust Company, as
amended [Registration Statement No. 33-32752, Exhibits
28(c)(1)(C), 28(c)(2)(C), 28(c)(3)(C), 28(c)(4)(C),
28(c)(5)(C) and 28(c)(6)(C); Registration Statement No. 33-
32753, Exhibits 28(a)(1)(C), 28(a)(2)(C), 28(a)(3)(C),
28(a)(4)(C), 28(a)(5)(C) and 28(a)(6)(C); and Annual Report
on Form 10-K of AEGCo for the fiscal year ended December 31,
1993, File No. 0-18135, Exhibits 10(c)(1)(B), 10(c)(2)(B),
10(c)(3)(B), 10(c)(4)(B), 10(c)(5)(B) and 10(c)(6)(B);
Annual Report on Form 10-K of I&M for the fiscal year ended
December 31, 1993, File No. 1-3570, Exhibits 10(e)(1)(B),
10(e)(2)(B), 10(e)(3)(B), 10(e)(4)(B), 10(e)(5)(B) and
10(e)(6)(B)].
10(d) Lease Agreement dated January 20, 1995 between OPCo and JMG
Funding, Limited Partnership, and amendment thereto
(confidential treatment requested) [Annual Report on Form
10-K of OPCo for the fiscal year ended December 31, 1994,
File No. 1-6543, Exhibit 10(l)(2)].
10(e) Modification No. 1 to the AEP System Interim Allowance
Agreement, dated July 28, 1994, among APCo, CSPCo, I&M,
KEPCo, OPCo and the Service Corporation [Annual Report on
Form 10-K of AEP for the fiscal year ended December 31,
1996, File No. 1-3525, Exhibit 10(l)].
* 10(f) Agreement and Plan of Merger, dated as of December 21, 1997,
By and Among American Electric Power Company, Inc., Augusta
Acquisition Corporation and Central and South West
Corporation.
!10(g)(1) AEP Deferred Compensation Agreement for certain executive
officers [Annual Report on Form 10-K of AEP for the fiscal
year ended December 31, 1985, File No. 1-3525, Exhibit
10(e)].
!10(g)(2) Amendment to AEP Deferred Compensation Agreement for certain
executive officers [Annual Report on Form 10-K of AEP for
the fiscal year ended December 31, 1986, File No. 1-3525,
Exhibit 10(d)(2)].
!10(h) AEP Accident Coverage Insurance Plan for directors [Annual
Report on Form 10-K of AEP for the fiscal year ended
December 31, 1985, File No. 1-3525, Exhibit 10(g)].
!10(i)(1) AEP Deferred Compensation and Stock Plan for Non-Employee
Directors [Annual Report on Form 10-K of AEP for the fiscal
year ended December 31, 1996, File No. 1-3525, Exhibit
10(f)(1)].
!10(i)(2) AEP Stock Unit Accumulation Plan for Non-Employee Directors
[Annual Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(f)(2)].
!10(j)(1)(A) AEP Excess Benefit Plan, as amended through August 25, 1997
[Quarterly Report on Form 10-Q of AEP for the quarter ended
September 30, 1997, File No. 1-3525, Exhibit 10].
!10(j)(1)(B) Guaranty by AEP of the Service Corporation Excess Benefits
Plan [Annual Report on Form 10-K of AEP for the fiscal year
ended December 31, 1990, File No. 1-3525, Exhibit
10(h)(1)(B)].
!10(j)(2) AEP System Supplemental Savings Plan, as amended through
November 15, 1995 (Non-Qualified) [Annual Report on Form 10-
K of AEP for the fiscal year ended December 31, 1996, File
No. 1-3525, Exhibit 10(g)(2)].
!10(j)(3) Service Corporation Umbrella Trust for Executives [Annual
Report on Form 10-K of AEP for the fiscal year ended
December 31, 1993, File No. 1-3525, Exhibit 10(g)(3)].
!10(k) Employment Agreement between E. Linn Draper, Jr. and AEP and
the Service Corporation [Annual Report on Form 10-K of AEGCo
for the fiscal year ended December 31, 1991, File No. 0-
18135, Exhibit 10(g)(3)].
!10(l)(1) AEP System Senior Officer Annual Incentive Compensation Plan
[Annual Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(i)(1)].
!10(l)(2) American Electric Power System Performance Share Incentive
Plan, as Amended and Restated through February 26, 1997
[Annual Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(i)(2)].
* 13 Copy of those portions of the AEP 1997 Annual Report (for
the fiscal year ended December 31, 1997) which are
incorporated by reference in this filing.
* 21 List of subsidiaries of AEP.
* 23 Consent of Deloitte & Touche LLP.
* 24 Power of Attorney.
* 27 Financial Data Schedules.
APCo!!
3(a) Copy of Restated Articles of Incorporation of APCo, and
amendments thereto to November 4, 1993 [Registration
Statement No. 33-50163, Exhibit 4(a); Registration Statement
No. 33-53805, Exhibits 4(b) and 4(c)].
3(b) Copy of Articles of Amendment to the Restated Articles of
Incorporation of APCo, dated June 6, 1994 [Annual Report on
Form 10-K of APCo for the fiscal year ended December 31,
1994, File No. 1-3457, Exhibit 3(b)].
3(c) Copy of Articles of Amendment to the Restated Articles of
Incorporation of APCo, dated March 6, 1997 [Annual Report on
Form 10-K of APCo for the fiscal year ended December 31,
1996, File No. 1-3457, Exhibit 3(c)].
3(d) Composite copy of the Restated Articles of Incorporation of
APCo (amended as of March 7, 1997) [Annual Report on Form
10-K of APCo for the fiscal year ended December 31, 1996,
File No. 1-3457, Exhibit 3(d)].
3(e) Copy of By-Laws of APCo (amended as of January 1, 1996)
[Annual Report on Form 10-K of APCo for the fiscal year
ended December 31, 1995, File No. 1-3457, Exhibit 3(d)].
4(a) Copy of Mortgage and Deed of Trust, dated as of December 1,
1940, between APCo and Bankers Trust Company and R. Gregory
Page, as Trustees, as amended and supplemented [Registration
Statement No. 2-7289, Exhibit 7(b); Registration Statement
No. 2-19884, Exhibit 2(1); Registration Statement No. 2-
24453, Exhibit 2(n); Registration Statement No. 2-60015,
Exhibits 2(b)(2), 2(b)(3), 2(b)(4), 2(b)(5), 2(b)(6),
2(b)(7), 2(b)(8), 2(b)(9), 2(b)(10), 2(b)(12), 2(b)(14),
2(b)(15), 2(b)(16), 2(b)(17), 2(b)(18), 2(b)(19), 2(b)(20),
2(b)(21), 2(b)(22), 2(b)(23), 2(b)(24), 2(b)(25), 2(b)(26),
2(b)(27) and 2(b)(28); Registration Statement No. 2-64102,
Exhibit 2(b)(29); Registration Statement No. 2-66457,
Exhibits (2)(b)(30) and 2(b)(31); Registration Statement No.
2-69217, Exhibit 2(b)(32); Registration Statement No. 2-
86237, Exhibit 4(b); Registration Statement No. 33-11723,
Exhibit 4(b); Registration Statement No. 33-17003, Exhibit
4(a)(ii), Registration Statement No. 33-30964, Exhibit 4(b);
Registration Statement No. 33-40720, Exhibit 4(b);
Registration Statement No. 33-45219, Exhibit 4(b);
Registration Statement No. 33-46128, Exhibits 4(b) and 4(c);
Registration Statement No. 33-53410, Exhibit 4(b);
Registration Statement No. 33-59834, Exhibit 4(b);
Registration Statement No. 33-50229, Exhibits 4(b) and 4(c);
Registration Statement No. 33-58431, Exhibits 4(b), 4(c),
4(d) and 4(e); Registration Statement No. 333-01049,
Exhibits 4(b) and 4(c); Registration Statement No. 333-
20305, Exhibits 4(b) and 4(c); Annual Report on Form 10-K of
APCo for the fiscal year ended December 31, 1996, File No.
1-3457, Exhibit 4(b)].
* 4(b) Copy of Indenture Supplemental, dated as of May 1, 1997, to
Mortgage and Deed of Trust.
4(c) Indenture (for unsecured debt securities), dated as of
January 1, 1998, between APCo and The Bank of New York, As
Trustee [Registration Statement No. 333-45927, Exhibits 4(a)
and 4(b)].
* 4(d) Company Order and Officers' Certificate, dated March 3,
1998, establishing certain terms of the 7.20% Senior Notes,
Series A, due 2038.
10(a)(1) Copy of Power Agreement, dated October 15, 1952, between
OVEC and United States of America, acting by and through the
United States Atomic Energy Commission, and, subsequent to
January 18, 1975, the Administrator of the Energy Research
and Development Administration, as amended [Registration
Statement No. 2-60015, Exhibit 5(a); Registration Statement
No. 2-63234, Exhibit 5(a)(1)(B); Registration Statement No.
2-66301, Exhibit 5(a)(1)(C); Registration Statement No. 2-
67728, Exhibit 5(a)(1)(D); Annual Report on Form 10-K of
APCo for the fiscal year ended December 31, 1989, File No.
1-3457, Exhibit 10(a)(1)(F); and Annual Report on Form 10-K
of APCo for the fiscal year ended December 31, 1992, File
No. 1-3457, Exhibit 10(a)(1)(B)].
10(a)(2) Copy of Inter-Company Power Agreement, dated as of July 10,
1953, among OVEC and the Sponsoring Companies, as amended
[Registration Statement No. 2-60015, Exhibit 5(c);
Registration Statement No. 2-67728, Exhibit 5(a)(3)(B); and
Annual Report on Form 10-K of APCo for the fiscal year ended
December 31, 1992, File No. 1-3457, Exhibit 10(a)(2)(B)].
10(a)(3) Copy of Power Agreement, dated July 10, 1953, between OVEC
and Indiana-Kentucky Electric Corporation, as amended
[Registration Statement No. 2-60015, Exhibit 5(e)].
10(b) Copy of Interconnection Agreement, dated July 6, 1951, among
APCo, CSPCo, KEPCo, OPCo and I&M and with the Service
Corporation, as amended [Registration Statement No. 2-52910,
Exhibit 5(a); Registration Statement No. 2-61009, Exhibit
5(b); Annual Report on Form 10-K of AEP for the fiscal year
ended December 31, 1990, File No. 1-3525, Exhibit 10(a)(3)].
10(c) Copy of Transmission Agreement, dated April 1, 1984, among
APCo, CSPCo, I&M, KEPCo, OPCo and with the Service
Corporation as agent, as amended [Annual Report on Form 10-K
of AEP for the fiscal year ended December 31, 1985, File No.
1-3525, Exhibit 10(b); Annual Report on Form 10-K of AEP for
the fiscal year ended December 31, 1988, File No. 1-3525,
Exhibit 10(b)(2)].
10(d) Copy of Modification No. 1 to the AEP System Interim
Allowance Agreement, dated July 28, 1994, among APCo, CSPCo,
I&M, KEPCo, OPCo and the Service Corporation [Annual Report
on Form 10-K of AEP for the fiscal year ended December 31,
1996, File No. 1-3525, Exhibit 10(l)].
10(e) Agreement and Plan of Merger, dated as of December 21, 1997,
By and Among American Electric Power Company, Inc., Augusta
Acquisition Corporation and Central and South West
Corporation [Annual Report on Form 10-K of AEP for the
fiscal year ended December 31, 1997, File No. 1-3525,
Exhibit 10(f)].
!10(f)(1) AEP Deferred Compensation Agreement for certain executive
officers [Annual Report on Form 10-K of AEP for the fiscal
year ended December 31, 1985, File No. 1-3525, Exhibit
10(e)].
!10(f)(2) Amendment to AEP Deferred Compensation Agreement for certain
executive officers [Annual Report on Form 10-K of AEP for
the fiscal year ended December 31, 1986, File No. 1-3525,
Exhibit 10(d)(2)].
!10(g)(1) AEP System Senior Officer Annual Incentive Compensation Plan
[Annual Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(i)(1)].
!10(g)(2) American Electric Power System Performance Share Incentive
Plan as Amended and Restated through February 26, 1997
[Annual Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(i)(2)].
!10(h)(1) Excess Benefits Plan [Quarterly Report on Form 10-Q of AEP
for the quarter ended September 30, 1997, File No. 1-3525,
Exhibit 10].
!10(h)(2) AEP System Supplemental Savings Plan (Non-Qualified) [Annual
Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(g)(2)].
!10(h)(3) Umbrella Trust for Executives [Annual Report on Form 10-K
of AEP for the fiscal year ended December 31, 1993, File No.
1-3525, Exhibit 10(g)(3)].
!10(i) Employment Agreement between E. Linn Draper, Jr. and AEP and
the Service Corporation [Annual Report on Form 10-K of AEGCo
for the fiscal year ended December 31, 1991, File No. 0-
18135, Exhibit 10(g)(3)].
* 12 Statement re: Computation of Ratios.
* 13 Copy of those portions of the APCo 1997 Annual Report (for
the fiscal year ended December 31, 1997) which are
incorporated by reference in this filing.
21 List of subsidiaries of APCo [Annual Report on Form 10-K of
AEP for the fiscal year ended December 31, 1997, File No. 1-
3525, Exhibit 21].
* 23 Consent of Deloitte & Touche LLP.
* 24 Power of Attorney.
* 27 Financial Data Schedules.
CSPCo!!
3(a) Copy of Amended Articles of Incorporation of CSPCo, as
amended to March 6, 1992 [Registration Statement No. 33-
53377, Exhibit 4(a)].
3(b) Copy of Certificate of Amendment to Amended Articles of
Incorporation of CSPCo, dated May 19, 1994 [Annual Report on
Form 10-K of CSPCo for the fiscal year ended December 31,
1994, File No. 1-2680, Exhibit 3(b)].
3(c) Composite copy of Amended Articles of Incorporation of
CSPCo, as amended [Annual Report on Form 10-K of CSPCo for
the fiscal year ended December 31, 1994, File No. 1-2680,
Exhibit 3(c)].
3(d) Copy of Code of Regulations and By-Laws of CSPCo [Annual
Report on Form 10-K of CSPCo for the fiscal year ended
December 31, 1987, File No. 1-2680, Exhibit 3(d)].
4(a) Copy of Indenture of Mortgage and Deed of Trust, dated
September 1, 1940, between CSPCo and City Bank Farmers Trust
Company (now Citibank, N.A.), as trustee, as supplemented
and amended [Registration Statement No. 2-59411, Exhibits
2(B) and 2(C); Registration Statement No. 2-80535, Exhibit
4(b); Registration Statement No. 2-87091, Exhibit 4(b);
Registration Statement No. 2-93208, Exhibit 4(b);
Registration Statement No. 2-97652, Exhibit 4(b);
Registration Statement No. 33-7081, Exhibit 4(b);
Registration Statement No. 33-12389, Exhibit 4(b);
Registration Statement No. 33-19227, Exhibits 4(b), 4(e),
4(f), 4(g) and 4(h); Registration Statement No. 33-35651,
Exhibit 4(b); Registration Statement No. 33-46859, Exhibits
4(b) and 4(c); Registration Statement No. 33-50316, Exhibits
4(b) and 4(c); Registration Statement No. 33-60336, Exhibits
4(b), 4(c) and 4(d); Registration Statement No. 33-50447,
Exhibits 4(b) and 4(c); Annual Report on Form 10-K of CSPCo
for the fiscal year ended December 31, 1993, File No. 1-
2680, Exhibit 4(b)].
* 4(b) Copy of Indenture (for unsecured debt securities), dated as
of September 1, 1997, between CSPCo and Bankers Trust
Company, as Trustee.
* 4(c) Copy of Company Order and Officers' Certificate, dated
September 29, 1997, establishing certain terms of the
Unsecured Medium Term Notes, Series A.
* 4(d) Copy of Instructions, dated September 30, 1997, from CSPCo
to Bankers Trust Company, establishing certain terms of the
6.85% Unsecured Medium Term Notes, Series A, due 2005.
* 4(e) Copy of Instructions, dated February 5, 1998, from CSPCo to
Bankers Trust Company, establishing certain terms of the
6.51% Unsecured Medium Term Notes, Series A, due 2008.
10(a)(1) Copy of Power Agreement, dated October 15, 1952, between
OVEC and United States of America, acting by and through the
United States Atomic Energy Commission, and, subsequent to
January 18, 1975, the Administrator of the Energy Research
and Development Administration, as amended [Registration
Statement No. 2-60015, Exhibit 5(a); Registration Statement
No. 2-63234, Exhibit 5(a)(1)(B); Registration Statement No.
2-66301, Exhibit 5(a)(1)(C); Registration Statement No. 2-
67728, Exhibit 5(a)(1)(B); Annual Report on Form 10-K of
APCo for the fiscal year ended December 31, 1989, File No.
1-3457, Exhibit 10(a)(1)(F); and Annual Report on Form 10-K
of APCo for the fiscal year ended December 31, 1992, File
No. 1-3457, Exhibit 10(a)(1)(B)].
10(a)(2) Copy of Inter-Company Power Agreement, dated July 10, 1953,
among OVEC and the Sponsoring Companies, as amended
[Registration Statement No. 2-60015, Exhibit 5(c);
Registration Statement No. 2-67728, Exhibit 5(a)(3)(B); and
Annual Report on Form 10-K of APCo for the fiscal year ended
December 31, 1992, File No. 1-3457, Exhibit 10(a)(2)(B)].
10(a)(3) Copy of Power Agreement, dated July 10, 1953, between OVEC
and Indiana-Kentucky Electric Corporation, as amended
[Registration Statement No. 2-60015, Exhibit 5(e)].
10(b) Copy of Interconnection Agreement, dated July 6, 1951, among
APCo, CSPCo, KEPCo, OPCo and I&M and the Service
Corporation, as amended [Registration Statement No. 2-52910,
Exhibit 5(a); Registration Statement No. 2-61009, Exhibit
5(b); and Annual Report on Form 10-K of AEP for the fiscal
year ended December 31, 1990, File No. 1-3525, Exhibit
10(a)(3)].
10(c) Copy of Transmission Agreement, dated April 1, 1984, among
APCo, CSPCo, I&M, KEPCo, OPCo, and with the Service
Corporation as agent, as amended [Annual Report on Form 10-K
of AEP for the fiscal year ended December 31, 1985, File No.
1-3525, Exhibit 10(b); and Annual Report on Form 10-K of AEP
for the fiscal year ended December 31, 1988, File No. 1-
3525, Exhibit 10(b)(2)].
10(d) Copy of Modification No. 1 to the AEP System Interim
Allowance Agreement, dated July 28, 1994, among APCo, CSPCo,
I&M, KEPCo, OPCo and the Service Corporation [Annual Report
on Form 10-K of AEP for the fiscal year ended December 31,
1996, File No. 1-3525, Exhibit 10(l)].
10(e) Agreement and Plan of Merger, dated as of December 21, 1997,
By and Among American Electric Power Company, Inc., Augusta
Acquisition Corporation and Central and South West
Corporation [Annual Report on Form 10-K of AEP for the
fiscal year ended December 31, 1997, File No. 1-3525,
Exhibit 10(f)].
* 12 Statement re: Computation of Ratios.
* 13 Copy of those portions of the CSPCo 1997 Annual Report (for
the fiscal year ended December 31, 1997) which are
incorporated by reference in this filing.
* 23 Consent of Deloitte & Touche LLP.
* 24 Power of Attorney.
* 27 Financial Data Schedules.
I&M!!
3(a) Copy of the Amended Articles of Acceptance of I&M and
amendments thereto [Annual Report on Form 10-K of I&M for
fiscal year ended December 31, 1993, File No. 1-3570,
Exhibit 3(a)].
3(b) Copy of Articles of Amendment to the Amended Articles of
Acceptance of I&M, dated March 6, 1997 [Annual Report on
Form 10-K of I&M for fiscal year ended December 31, 1996,
File No. 1-3570, Exhibit 3(b)].
3(c) Composite Copy of the Amended Articles of Acceptance of I&M
(amended as of March 7, 1997) [Annual Report on Form 10-K of
I&M for fiscal year ended December 31, 1996, File No. 1-
3570, Exhibit 3(c)].
3(d) Copy of the By-Laws of I&M (amended as of January 1, 1996)
[Annual Report on Form 10-K of I&M for fiscal year ended
December 31, 1995, File No. 1-3570, Exhibit 3(c)].
4(a) Copy of Mortgage and Deed of Trust, dated as of June 1,
1939, between I&M and Irving Trust Company (now The Bank of
New York) and various individuals, as Trustees, as amended
and supplemented [Registration Statement No. 2-7597, Exhibit
7(a); Registration Statement No. 2-60665, Exhibits 2(c)(2),
2(c)(3), 2(c)(4), 2(c)(5), 2(c)(6), 2(c)(7), 2(c)(8),
2(c)(9), 2(c)(10), 2(c)(11), 2(c)(12), 2(c)(13), 2(c)(14),
2(c)(15), (2)(c)(16), and 2(c)(17); Registration Statement
No. 2-63234, Exhibit 2(b)(18); Registration Statement No. 2-
65389, Exhibit 2(a)(19); Registration Statement No. 2-67728,
Exhibit 2(b)(20); Registration Statement No. 2-85016,
Exhibit 4(b); Registration Statement No. 33-5728, Exhibit
4(c); Registration Statement No. 33-9280, Exhibit 4(b);
Registration Statement No. 33-11230, Exhibit 4(b);
Registration Statement No. 33-19620, Exhibits 4(a)(ii),
4(a)(iii), 4(a)(iv) and 4(a)(v); Registration Statement No.
33-46851, Exhibits 4(b)(i), 4(b)(ii) and 4(b)(iii);
Registration Statement No. 33-54480, Exhibits 4(b)(i) and
4(b)(ii); Registration Statement No. 33-60886, Exhibit
4(b)(i); Registration Statement No. 33-50521, Exhibits
4(b)(i), 4(b)(ii) and 4(b)(iii); Annual Report on Form 10-K
of I&M for fiscal year ended December 31, 1993, File No. 1-
3570, Exhibit 4(b); Annual Report on Form 10-K of I&M for
fiscal year ended December 31, 1994, File No. 1-3570,
Exhibit 4(b); Annual Report on Form 10-K of I&M for fiscal
year ended December 31, 1996, File No. 1-3570, Exhibit
4(b)].
10(a)(1) Copy of Power Agreement, dated October 15, 1952, between
OVEC and United States of America, acting by and through the
United States Atomic Energy Commission, and, subsequent to
January 18, 1975, the Administrator of the Energy Research
and Development Administration, as amended [Registration
Statement No. 2-60015, Exhibit 5(a); Registration Statement
No. 2-63234, Exhibit 5(a)(1)(B); Registration Statement No.
2-66301, Exhibit 5(a)(1)(C); Registration Statement No. 2-
67728, Exhibit 5(a)(1)(D); Annual Report on Form 10-K of
APCo for the fiscal year ended December 31, 1989, File No.
1-3457, Exhibit 10(a)(1)(F); and Annual Report on Form 10-K
of APCo for the fiscal year ended December 31, 1992, File
No. 1-3457, Exhibit 10(a)(1)(B)].
10(a)(2) Copy of Inter-Company Power Agreement, dated as of July 10,
1953, among OVEC and the Sponsoring Companies, as amended
[Registration Statement No. 2-60015, Exhibit 5(c);
Registration Statement No. 2-67728, Exhibit 5(a)(3)(B);
Annual Report on Form 10-K of APCo for the fiscal year ended
December 31, 1992, File No. 1-3457, Exhibit 10(a)(2)(B)].
10(a)(3) Copy of Power Agreement, dated July 10, 1953, between OVEC
and Indiana-Kentucky Electric Corporation, as amended
[Registration Statement No. 2-60015, Exhibit 5(e)].
10(a)(2) Copy of Inter-Company Power Agreement, dated as of July 10,
1953, among OVEC and the Sponsoring Companies, as amended
[Registration Statement No. 2-60015, Exhibit 5(c);
Registration Statement No. 2-67728, Exhibit 5(a)(3)(B);
Annual Report on Form 10-K of APCo for the fiscal year ended
December 31, 1992, File No. 1-3457, Exhibit 10(a)(2)(B)].
10(a)(3) Copy of Power Agreement, dated July 10, 1953, between OVEC
and Indiana-Kentucky Electric Corporation, as amended
[Registration Statement No. 2-60015, Exhibit 5(e)].
10(b) Copy of Interconnection Agreement, dated July 6, 1951,
between APCo, CSPCo, KEPCo, I&M, and OPCo and with the
Service Corporation, as amended [Registration Statement No.
2-52910, Exhibit 5(a); Registration Statement No. 2-61009,
Exhibit 5(b); and Annual Report on Form 10-K of AEP for the
fiscal year ended December 31, 1990, File No. 1-3525,
Exhibit 10(a)(3)].
10(c) Copy of Transmission Agreement, dated April 1, 1984, among
APCo, CSPCo, I&M, KEPCo, OPCo and with the Service
Corporation as agent, as amended [Annual Report on Form 10-K
of AEP for the fiscal year ended December 31, 1985, File No.
1-3525, Exhibit 10(b); and Annual Report on Form 10-K of AEP
for the fiscal year ended December 31, 1988, File No. 1-
3525, Exhibit 10(b)(2)].
10(d) Copy of Modification No. 1 to the AEP System Interim
Allowance Agreement, dated July 28, 1994, among APCo, CSPCo,
I&M, KEPCo, OPCo and the Service Corporation [Annual Report
on Form 10-K of AEP for the fiscal year ended December 31,
1996, File No. 1-3525, Exhibit 10(l)].
10(e) Copy of Nuclear Material Lease Agreement, dated as of
December 1, 1990, between I&M and DCC Fuel Corporation
[Annual Report on Form 10-K of I&M for the fiscal year ended
December 31, 1993, File No. 1-3570, Exhibit 10(d)].
10(f) Copy of Lease Agreements, dated as of December 1, 1989,
between I&M and Wilmington Trust Company, as amended
[Registration Statement No. 33-32753, Exhibits 28(a)(1)(C),
28(a)(2)(C), 28(a)(3)(C), 28(a)(4)(C), 28(a)(5)(C) and
28(a)(6)(C); Annual Report on Form 10-K of I&M for the
fiscal year ended December 31, 1993, File No. 1-3570,
Exhibits 10(e)(1)(B), 10(e)(2)(B), 10(e)(3)(B), 10(e)(4)(B),
10(e)(5)(B) and 10(e)(6)(B)].
10(g) Agreement and Plan of Merger, dated as of December 21, 1997,
By and Among American Electric Power Company, Inc., Augusta
Acquisition Corporation and Central and South West
Corporation [Annual Report on Form 10-K of AEP for the
fiscal year ended December 31, 1997, File No. 1-3525,
Exhibit 10(f)].
* 12 Statement re: Computation of Ratios
* 13 Copy of those portions of the I&M 1997 Annual Report (for
the fiscal year ended December 31, 1997) which are
incorporated by reference in this filing.
21 List of subsidiaries of I&M [Annual Report on Form 10-K of
AEP for the fiscal year ended December 31, 1997, File No. 1-
3525, Exhibit 21].
* 23 Consent of Deloitte & Touche LLP.
* 24 Power of Attorney.
* 27 Financial Data Schedules.
KEPCo!!
3(a) Copy of Restated Articles of Incorporation of KEPCo [Annual
Report on Form 10-K of KEPCo for the fiscal year ended
December 31, 1991, File No. 1-6858, Exhibit 3(a)].
3(b) Copy of By-Laws of KEPCo (amended as of January 1, 1996)
[Annual Report on Form 10-K of KEPCo for the fiscal year
ended December 31, 1995, File No. 1-6858, Exhibit 3(b)].
4(a) Copy of Mortgage and Deed of Trust, dated May 1, 1949,
between KEPCo and Bankers Trust Company, as supplemented and
amended [Registration Statement No. 2-65820, Exhibits
2(b)(1), 2(b)(2), 2(b)(3), 2(b)(4), 2(b)(5), and 2(b)(6);
Registration Statement No. 33-39394, Exhibits 4(b) and 4(c);
Registration Statement No. 33-53226, Exhibits 4(b) and 4(c);
Registration Statement No. 33-61808, Exhibits 4(b) and 4(c),
Registration Statement No. 33-53007, Exhibits 4(b), 4(c) and
4(d)].
* 4(b) Copy of Indenture (for unsecured debt securities), dated as
of September 1, 1997, between KEPCo and Bankers Trust
Company, as Trustee.
* 4(c) Copy of Company Order and Officers' Certificate, dated
September 24, 1997, establishing certain terms of the
Unsecured Medium Term Notes, Series A.
* 4(d) Copy of Instructions, dated September 26, 1997, from KEPCo
to Bankers Trust Company, establishing certain
terms of the 6.91% Unsecured Medium Term Notes, Series A,
due 2007.
10(a) Copy of Interconnection Agreement, dated July 6, 1951, among
APCo, CSPCo, KEPCo, I&M and OPCo and with the Service
Corporation, as amended [Registration Statement No. 2-52910,
Exhibit 5(a);Registration Statement No. 2-61009, Exhibit
5(b); and Annual Report on Form 10-K of AEP for the fiscal
year ended December 31, 1990, File No. 1-3525, Exhibit
10(a)(3)].
10(b) Copy of Transmission Agreement, dated April 1, 1984, among
APCo, CSPCo, I&M, KEPCo, OPCo and with the Service
Corporation as agent, as amended [Annual Report on Form 10-K
of AEP for the fiscal year ended December 31, 1985, File No.
1-3525, Exhibit 10(b); and Annual Report on Form 10-K of AEP
for the fiscal year ended December 31, 1988, File No. 1-
3525, Exhibit 10(b)(2)].
10(c) Copy of Modification No. 1 to the AEP System Interim
Allowance Agreement, dated July 28, 1994, among APCo, CSPCo,
I&M, KEPCo, OPCo and the Service Corporation [Annual Report
on Form 10-K of AEP for the fiscal year ended December 31,
1996, File No. 1-3525, Exhibit 10(l)].
10(d) Agreement and Plan of Merger, dated as of December 21, 1997,
By and Among American Electric Power Company, Inc., Augusta
Acquisition Corporation and Central and South West
Corporation [Annual Report on Form 10-K of AEP for the
fiscal year ended December 31, 1997, File No. 1-3525,
Exhibit 10(f)].
* 12 Statement re: Computation of Ratios.
* 13 Copy those portions of the KEPCo 1997 Annual Report (for the
fiscal year ended December 31, 1997) which are incorporated
by reference in this filing.
* 23 Consent of Deloitte & Touche LLP.
* 24 Power of Attorney.
* 27 Financial Data Schedules.
OPCo!!
3(a) Copy of Amended Articles of Incorporation of OPCo, and
amendments thereto to December 31, 1993 [Registration
Statement No. 33-50139, Exhibit 4(a); Annual Report on Form
10-K of OPCo for the fiscal year ended December 31, 1993,
File No. 1-6543, Exhibit 3(b)].
3(b) Certificate of Amendment to Amended Articles of
Incorporation of OPCo, dated May 3, 1994 [Annual Report on
Form 10-K of OPCo for the fiscal year ended December 31,
1994, File No. 1-6543, Exhibit 3(b)].
3(c) Copy of Certificate of Amendment to Amended Articles of
Incorporation of OPCo, dated March 6, 1997 [Annual Report on
Form 10-K of OPCo for the fiscal year ended December 31,
1996, File No. 1-6543, Exhibit 3(c)].
3(d) Composite copy of the Amended Articles of Incorporation of
OPCo (amended as of March 7, 1997) [Annual Report on Form
10-K of OPCo for the fiscal year ended December 31, 1996,
File No. 1-6543, Exhibit 3(d)].
3(e) Copy of Code of Regulations of OPCo [Annual Report on Form
10-K of OPCo for the fiscal year ended December 31, 1990,
File No. 1-6543, Exhibit 3(d)].
4(a) Copy of Mortgage and Deed of Trust, dated as of October 1,
1938, between OPCo and Manufacturers Hanover Trust Company
(now Chemical Bank), as Trustee, as amended and supplemented
[Registration Statement No. 2-3828, Exhibit B-4;
Registration Statement No. 2-60721, Exhibits 2(c)(2),
2(c)(3), 2(c)(4), 2(c)(5), 2(c)(6), 2(c)(7), 2(c)(8),
2(c)(9), 2(c)(10), 2(c)(11), 2(c)(12), 2(c)(13), 2(c)(14),
2(c)(15), 2(c)(16), 2(c)(17), 2(c)(18), 2(c)(19), 2(c)(20),
2(c)(21), 2(c)(22), 2(c)(23), 2(c)(24), 2(c)(25), 2(c)(26),
2(c)(27), 2(c)(28), 2(c)(29), 2(c)(30), and 2(c)(31);
Registration Statement No. 2-83591, Exhibit 4(b);
Registration Statement No. 33-21208, Exhibits 4(a)(ii),
4(a)(iii) and 4(a)(vi); Registration Statement No. 33-31069,
Exhibit 4(a)(ii); Registration Statement No. 33-44995,
Exhibit 4(a)(ii); Registration Statement No. 33-59006,
Exhibits 4(a)(ii), 4(a)(iii) and 4(a)(iv); Registration
Statement No. 33-50373, Exhibits 4(a)(ii), 4(a)(iii) and
4(a)(iv); Annual Report on Form 10-K of OPCo for the fiscal
year ended December 31, 1993, File No. 1-6543, Exhibit
4(b)].
* 4(b) Copy of Indenture (for unsecured debt securities), dated as
of September 1, 1997, between OPCo and Bankers Trust
Company, as Trustee.
* 4(c) Copy of Company Order and Officers' Certificate, dated
September 24, 1997, establishing certain terms of the
Unsecured Medium Term Notes, Series A.
* 4(d) Copy of Instructions, dated September 25, 1997, from OPCo to
Bankers Trust Company, establishing certain
terms of the 6.73% Unsecured Medium Term Notes, Series A,
due 2004.
10(a)(1) Copy of Power Agreement, dated October 15, 1952, between
OVEC and United States of America, acting by and through the
United States Atomic Energy Commission, and, subsequent to
January 18, 1975, the Administrator of the Energy Research
and Development Administration, as amended [Registration
Statement No. 2-60015, Exhibit 5(a); Registration Statement
No. 2-63234, Exhibit 5(a)(1)(B); Registration Statement No.
2-66301, Exhibit 5(a)(1)(C); Registration Statement No. 2-
67728, Exhibit 5(a)(1)(D); Annual Report on Form 10-K of
APCo for the fiscal year ended December 31, 1989, File No.
1-3457, Exhibit 10(a)(1)(F); Annual Report on Form 10-K of
APCo for the fiscal year ended December 31, 1992, File No.
1-3457, Exhibit 10(a)(1)(B)].
10(a)(2) Copy of Inter-Company Power Agreement, dated July 10, 1953,
among OVEC and the Sponsoring Companies, as amended
[Registration Statement No. 2-60015, Exhibit 5(c);
Registration Statement No. 2-67728, Exhibit 5(a)(3)(B);
Annual Report on Form 10-K of APCo for the fiscal year
ended December 31, 1992, File No. 1-3457, Exhibit
10(a)(2)(B)].
10(a)(3) Copy of Power Agreement, dated July 10, 1953, between OVEC
and Indiana-Kentucky Electric Corporation, as amended
[Registration Statement No. 2-60015, Exhibit 5(e)].
10(b) Copy of Interconnection Agreement, dated July 6, 1951,
between APCo, CSPCo, KEPCo, I&M and OPCo and with the
Service Corporation, as amended [Registration Statement No.
2-52910, Exhibit 5(a); Registration Statement No. 2-61009,
Exhibit 5(b); Annual Report on Form 10-K of AEP for the
fiscal year ended December 31, 1990, File 1-3525, Exhibit
10(a)(3)].
10(c) Copy of Transmission Agreement, dated April 1, 1984, among
APCo, CSPCo, I&M, KEPCo, OPCo and with the Service
Corporation as agent [Annual Report on Form 10-K of AEP for
the fiscal year ended December 31, 1985, File No. 1-3525,
Exhibit 10(b); Annual Report on Form 10-K of AEP for the
fiscal year ended December 31, 1988, File No. 1-3525,
Exhibit 10(b)(2)].
10(d) Copy of Modification No. 1 to the AEP System Interim
Allowance Agreement, dated July 28, 1994, among APCo, CSPCo,
I&M, KEPCo, OPCo and the Service Corporation [Annual Report
on Form 10-K of AEP for the fiscal year ended December 31,
1996, File No. 1-3525, Exhibit 10(l)].
10(e) Copy of Amendment No. 1, dated October 1, 1973, to Station
Agreement dated January 1, 1968, among OPCo, Buckeye and
Cardinal Operating Company, and amendments thereto [Annual
Report on Form 10-K of OPCo for the fiscal year ended
December 31, 1993, File No. 1-6543, Exhibit 10(f)].
10(f) Lease Agreement dated January 20, 1995 between OPCo and JMG
Funding, Limited Partnership, and amendment thereto
(confidential treatment requested) [Annual Report on Form
10-K of OPCo for the fiscal year ended December 31, 1994,
File No. 1-6543, Exhibit 10(l)(2)].
10(g) Agreement and Plan of Merger, dated as of December 21, 1997,
By and Among American Electric Power Company, Inc., Augusta
Acquisition Corporation and Central and South West
Corporation [Annual Report on Form 10-K of AEP for the
fiscal year ended December 31, 1997, File No. 1-3525,
Exhibit 10(f)].
!10(h)(1) AEP Deferred Compensation Agreement for certain executive
officers [Annual Report on Form 10-K of AEP for the fiscal
year ended December 31, 1985, File No. 1-3525, Exhibit
10(e)].
!10(h)(2) Amendment to AEP Deferred Compensation Agreement for certain
executive officers [Annual Report on Form 10-K of AEP for
the fiscal year ended December 31, 1986, File No. 1-3525,
Exhibit 10(d)(2)].
!10(i)(1) AEP System Senior Officer Annual Incentive Compensation Plan
[Annual Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(i)(1)].
!10(i)(2) American Electric Power System Performance Share Incentive
Plan, as Amended and Restated through February 26, 1997
[Annual Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(i)(2)].
!10(j)(1) Excess Benefits Plan [Quarterly Report on Form 10-Q of AEP
for the quarter ended September 30, 1997, File No. 1-3525,
Exhibit 10].
!10(j)(2) AEP System Supplemental Savings Plan (Non-Qualified) [Annual
Report on Form 10-K of AEP for the fiscal year ended
December 31, 1996, File No. 1-3525, Exhibit 10(g)(2)].
!10(j)(3) Umbrella Trust for Executives [Annual Report on Form 10-K
of AEP for the fiscal year ended December 31, 1993, File No.
1-3525, Exhibit 10(g)(3)].
!10(k) Employment Agreement between E. Linn Draper, Jr. and AEP and
the Service Corporation [Annual Report on Form 10-K of AEGCo
for the fiscal year ended December 31, 1991, File No. 0-
18135, Exhibit 10(g)(3)].
* 12 Statement re: Computation of Ratios.
* 13 Copy of those portions of the OPCo 1997 Annual Report (for
the fiscal year ended December 31, 1997) which are
incorporated by reference in this filing.
21 List of subsidiaries of OPCo [Annual Report on Form 10-K of
AEP for the fiscal year ended December 31, 1997, File No. 1-
3525, Exhibit 21].
* 23 Consent of Deloitte & Touche LLP.
* 24 Power of Attorney.
* 27 Financial Data Schedules.
!! Certain instruments defining the rights of holders of long-term debt of the
registrants included in the financial statements of registrants filed herewith
have been omitted because the total amount of securities authorized thereunder
does not exceed 10% of the total assets of registrants. The registrants
hereby agree to furnish a copy of any such omitted instrument to the SEC upon
request.
<PAGE>
EXHIBIT D
AMERICAN ELECTRIC POWER COMPANY, INC.
AND
ITS CONSOLIDATED AFFILIATES
TAX AGREEMENT UNDER TITLE 17, CHAPTER II
OF THE CODE OF FEDERAL REGULATIONS PARAGRAPH
(C) OF SECTION 250.45 REGARDING METHOD OF
ALLOCATING CONSOLIDATED INCOME TAXES
The below listed affiliated companies, joining in the annual
filing of a consolidated federal income tax return with American
Electric Power Company, Inc., agree to allocate the consolidated
annual net current federal income tax liability and/or benefit
to the members of the consolidated group in accordance with the
following procedures:
(1) The consolidated regular federal income tax, exclusive of
capital gains and preference taxes and before the application of
credits including investment tax credits, shall be apportioned
among the members of the consolidated group based on corporate
taxable income. Loss companies shall be included in the
allocation, receiving a negative tax allocation which is similar
to a separate return carryback refund, before considering
investment tax credit, which would have resulted had the loss
company historically filed a separate return.
(2) The corporate taxable income of each member of the group
shall be first reduced by its proportionate share of American
Electric Power Company, Inc.'s (the holding company) tax loss in
arriving at adjusted corporate taxable income for each member of
the group with positive taxable income.
(3) To the extent that the consolidated and corporate taxable
incomes include material items taxed at rates other than the
statutory tax rate (such as capital gains and preference items),
the portion of the consolidated tax attributable to these items
shall be apportioned directly to the members of the group giving
rise to such items.
(4) Consolidated investment tax credits utilized shall be
apportioned to each member of the consolidated group by applying
the current statutory maximum investment tax credit limitation
to each member's allocated portion of the consolidated regular
federal income tax plus the tax on items taxed at rates other
than the statutory rate which can be offset by investment tax
credits as apportioned in procedures (1) and (3) above. Members
generating current corporate tax losses shall be allocated a
negative investment tax credit by applying the current statutory
maximum investment tax credit limitation to their net negative
allocation resulting from procedures (1) and (3) above. The
positive credit apportioned to each member with corporate
taxable income shall be limited to that member's total available
corporate investment tax credit inclusive of carryforwards
generated by such member. Any difference between the total of
each member's allocated investment tax credit, in accordance
with the above procedures and the total consolidated investment
tax credit shall be allocated to the members of the consolidated
group with remaining corporate investment tax credit available,
inclusive of tax loss companies, in proportion to the corporate
credit available to each member, again limiting the credit
allocated to each member to the remaining corporate credit
available to that member. The negative investment tax credit
allocated to member companies with tax losses is similar to a
reversal of investment tax credits utilized in prior years which
would have resulted from a net operating tax loss carryback had
the loss company filed a separate return. This reversal or
negative investment tax credit will reduce the credit tax
allocated to the loss company in procedure (1). Any negative
credit reversals allocated to a member generating a corporate
tax loss will be added to that member's available corporate
credit for future allocations.
(5) Any special benefits other than investment tax credits
shall be allocated directly to the members of the consolidated
group giving rise to them.
(6) Should the consolidated group generate a net operating
tax loss for a calendar year, special procedures shall be adopted to
allocate the resultant consolidated carryback refund or the
reduction in consolidated net current federal income taxes,
which will result in future years when the carryforward tax
losses are applied to reduce consolidated taxable income. The
tax benefits of any resultant carryback shall be allocated
proportionately to member companies that generated corporate tax
losses in the year the consolidated net operating loss was
generated. Any related loss of credits, including investment
tax credit reversals, shall be allocated to the member companies
that utilized the credits in the prior year in the same
proportion that the credit lost is to the total credit utilized
in the prior year. Investment tax credit reversals allocated to
a member will be added to that member's available corporate
investment tax credit for future allocations. A prior year
consolidated net operating tax loss carryfoward applied to
reduce current year consolidated taxable income shall be
allocated proportionately to member companies that generated a
corporate tax loss in the year the consolidated net operating
tax loss was generated.
(7) A member with a net positive tax allocation shall pay
the holding company the net amount allocated, while a tax loss
member with a net negative tax allocation shall receive current
payment from the holding company in the amount of its negative
allocation. The payment made to a member with a tax loss should
equal the amount by which the consolidated tax is reduced by
including the member's net corporate tax loss in the
consolidated tax return. The holding company shall pay to the
Internal Revenue Service the consolidated group's net current
federal income tax liability from the net of the receipts and
payments.
(8) No member of the consolidated group shall be allocated a
federal income tax which is greater than the federal income tax
computed as if such member had filed a separate return.
Any current state tax liability and/or benefit associated with
a state tax return involving more than one member of the
consolidated group, shall be allocated to such members following
the principles set forth above for current federal income taxes.
Due to certain states utilizing a unitary approach, the
consolidated return liability may exceed the sum of the
liabilities computed for each company on a separate return
basis. If this occurs, the excess of the consolidated liability
over the sum of the separate return liabilities shall be
allocated proportionally based on each member's contribution to
the consolidated apportionment percentage. If additional tax is
attributable to a significant transaction or event, such
additional tax shall be allocated directly to the members who
are party to said transaction or event.
This agreement is subject to revision as a result of changes in
federal and state tax law and relevant facts and circumstances.
The above procedures for apportioning the consolidated annual
net current federal and state tax liabilities and expenses of
American Electric Power Company, Inc. and its consolidating
affiliates have been agreed to by each of the below listed
members of the consolidated group as evidenced by the signature
of an officer of each company.
COMPANY OFFICER'S SIGNATURE
American Electric Power Company, Inc. /s/ W. L. Scott
American Electric Power Service Corporation /s/ W. L. Scott
AEP Communications, Inc. /s/ W. L. Scott
AEP Energy Services, Inc. /s/ John F. DiLorenzo, Jr.
AEP Generating Company /s/ W. L. Scott
AEP Investments, Inc. /s/ W. L. Scott
AEP Power Marketing, Inc. /s/ John F. DiLorenzo, Jr.
AEP Resources, Inc. /s/ W. L. Scott
AEP Resources Australia Investments, Inc. /s/ W. L. Scott
AEP Resources Australia Ventures, Inc. /s/ W. L. Scott
AEP Resources Delaware, Inc. /s/ W. L. Scott
AEP Resources Service Company /s/ W. L. Scott
Appalachian Power Company /s/ W. L. Scott
Blackhawk Coal Company /s/ W. L. Scott
Cedar Coal Company /s/ W. L. Scott
Central Appalachian Coal Company /s/ W. L. Scott
Central Coal Company /s/ W. L. Scott
Central Ohio Coal Company /s/ W. L. Scott
Central Operating Company /s/ W. L. Scott
Colomet, Inc. /s/ W. L. Scott
Columbus Southern Power Company /s/ W. L. Scott
Conesville Coal Preparation Company /s/ W. L. Scott
Franklin Real Estate Company /s/ W. L. Scott
Indiana Franklin Realty, Inc. /s/ W. L. Scott
Indiana Michigan Power Company /s/ W. L. Scott
Kentucky Power Company /s/ W. L. Scott
Kingsport Power Company /s/ W. L. Scott
Ohio Power Company /s/ W. L. Scott
Price River Coal Company, Inc. /s/ W. L. Scott
Simco, Inc. /s/ W. L. Scott
Southern Appalachian Coal Company /s/ W. L. Scott
Southern Ohio Coal Company /s/ W. L. Scott
West Virginia Power Company /s/ W. L. Scott
Wheeling Power Company /s/ W. L. Scott
Windsor Coal Company /s/ W. L. Scott
<PAGE>
EXHIBIT E
CONTENTS
1 CHART OF ACCOUNTS FOR AEP SYSTEM COMPANIES - PER RULE 26
2 COPIES OF PERSONNEL POLICIES AS THEY RELATE TO RULE 48(b)
____________________________________________________________
EXHIBIT E DOCUMENT:
CHART OF ACCOUNTS FOR AEP SYSTEM COMPANIES
Pursuant to Rule 26 the identity of the chart of accounts used by American
Electric Power Company, Inc. and each subsidiary company is indicated below.
The companies using the Federal Energy Regulatory Commission Uniform System of
Accounts are indicated by "FERC USA" and the companies using the Uniform
System of Accounts for Mutual Service Companies and Subsidiary Service
Companies are indicated by "USA SC".
Chart of Accounts
American Electric Power Company, Inc. (AEP) USA SC (a)
AEP Communications, Inc. (AEPC) USA SC (a)
AEP Communications, LLC (AEPCLLC) USA SC (a)
AEP Energy Services, Inc. (AEPES) USA SC (a)
AEP Generating Company (AEGCo) FERC USA
AEP Investments, Inc. (AEPINV) USA SC (a)
AEP Power Marketing, Inc. (AEPPM) USA SC (a)
AEP Resources Service Company (AEPRESC) USA SC (a)
AEP Energy Services International, Limited (AEPESI) USA SC (a)
AEP Resources, Inc. (AEPR) USA SC (a)
AEP Resources Australia Investments, Inc. (AEPRAI) USA SC (a)
AEP Resources Australia Ventures, Inc. (AEPRAV) USA SC (a)
AEP Resources Australia Pty., Ltd. (AEPRA) USA SC (a)
AEP Resources Delaware, Inc. (AEPRD) USA SC (a)
AEP Resources International, Ltd. (AEPRI) USA SC (a)
AEP Pushan Power, LDC (Pushan) USA SC (a)
Nanyang General Light Electric Co. Ltd. (NGLE) FERC USA
AEP Resources Mauritius Company (Mauritius) USA SC (a)
AEP Resources Project Management Company, Ltd. (AEPRPM) USA SC (a)
AEP Resources Limited (AEPRL) USA SC (a)
AEPR Global Investments B.V. (AEPRGI) USA SC (a)
AEPR Global Holland Holding B.V. (AEPRGHH) USA SC (a)
AEPR Global Ventures B.V. (AEPRGV) USA SC (a)
Yorkshire Power Group Limited (YPG) (c)
Yorkshire Holdings plc (YH) (c)
Yorkshire Electricity Group plc (YEG) (c)
Yorkshire Power Finance Limited (YPF) (c)
American Electric Power Service Corporation (AEPSC) USA SC (a)
Appalachian Power Company (APCo) FERC USA
Cedar Coal Co. (CeCCo) FERC USA (b)
Central Appalachian Coal Company (CACCo) FERC USA (b)
Central Coal Company (CCCo) FERC USA (b)
Central Operating Company (COpCo) FERC USA
Southern Appalachian Coal Company (SACCo) FERC USA (b)
West Virginia Power Company (WVPCo) FERC USA
Columbus Southern Power Company (CSPCo) FERC USA
Colomet, Inc.(COLM) FERC USA
Conesville Coal Preparation Company (CCPC) FERC USA (b)
Simco Inc. (Simco) FERC USA
Ohio Valley Electric Corporation (OVEC) FERC USA
Franklin Real Estate Company (FRECo) USA SC (a)
Indiana Franklin Realty, Inc. (IFRI) USA SC (a)
Indiana Michigan Power Company (I&M) FERC USA
Blackhawk Coal Company (BHCCo) FERC USA (b)
Price River Coal Company (PRCCo) FERC USA (b)
Kentucky Power Company (KEPCo) FERC USA
Kingsport Power Company (KGPCo) FERC USA
Ohio Power Company (OPCo) FERC USA
Cardinal Operating Company (CdOCo) FERC USA
Central Coal Company (CCCo) FERC USA (b)
Central Ohio Coal Company (COCCo) FERC USA (b)
Central Operating Company (COpCo) FERC USA
Southern Ohio Coal Company (SOCCo) FERC USA (b)
Windsor Coal Company (WCCo) FERC USA (b)
Ohio Valley Electric Corporation (OVEC) FERC USA
Indiana-Kentucky Electric Corporation (IKEC) FERC USA
Wheeling Power Company (WPCo) FERC USA
NOTES:
(a) These companies will adopt the FERC Uniform System of Accounts effective
January 1, 1999.
(b) These companies use the FERC Uniform System of Accounts except for the
operation and maintenance accounts.
(c) These companies use the chart of accounts presented below.
YORKSHIRE POWER FINANCE LIMITED
YORKSHIRE POWER GROUP LIMITED
YORKSHIRE HOLDINGS PLC
YORKSHIRE ELECTRICITY GROUP PLC
Invest Prop Qual IBA Asset
Investment Properties - Qualif Asset
Invest Prop No Qual Cap Al Asset
Investment Properties - Not Qua Asset
Fixed Assets Distributions Asset
Distribution - Transfers Asset
Non Op Land & Bldgs Asset
Other - Transfers Asset
Other - Disposals Asset
Other - Additions Asset
Other - B/F Asset
Other Reclassified Asset
Other Leased Assets Asset
Other HP Assets Asset
Other Motor Vehicles Asset
Other: Computers - Asset Asset
Other Fixtures Asset
Fixtures Qualifying for CA Asset
Fixed Assets - Fixtures Qualify Asset
FA Generation Asset
Gen Qual WDA Asset
Generation Non Qual WDA Asset
Capital Contributions Asset
Generation Write Offs Asset
Capital contributions Quali Asset
Capital Contributions Non Q Asset
Cap Cont Non Qual WDA Asset
Consol will be Disabled Asset
Tools Asset
Tools Qualifying for CA Asset
Tools Qualifying for Revenue Asset
Meters Asset
Investments Other than Loans Asset
Investments - Own share Asset
Investments - YEG Holdings Asset
Loans Asset
Stocks Asset
Raw materials / stores Asset
WIP Asset
Finished goods and goods for r Asset
Payment on account Asset
Mentor Stock Asset
Debtors Asset
Trade Debtors Asset
Debtors Amounts owed by Group Asset
Disco95 Loan Asset
Intercompany Debtor - Team tel Asset
Debtors Amounts owed by Assoc Asset
Debtors Credit Sale Inst not y Asset
Debtors Investment in Finance Asset
Debtors Prepayments & Accrued Asset
Debtors Prepay & Accrued Incom Asset
Debtors Dividends Receivable Asset
Debtors Purchase of electricity Asset
VAT Asset
Debtors - Bad Debt Provision Asset
PPS Asset
Debtors Other Asset
Suspense Account Asset
Short Term Investments Asset
Cash at Bank and in Hand Asset
Bank Receipts Asset
Midland Treasury Asset
Giro Receipts Asset
Petty Cash Asset
Cash in Suspense Asset
Bank 7 Cash Yen A/C Asset
YEGas Cash Asset
Creditors Asset
Creditors Amounts Owed to Group Asset
Creditors Interdivisional - Po Asset
Stores Control Asset
Inter Divisional Transfers Con Asset
Transfer Pricing Control Income Asset
Transfer Pricing Control Costs Asset
PPS Adjustment Control Asset
Cash Control Asset
NED Cash Collection Control Asset
TP Bank Control Asset
GAS Cash Collection Account Asset
Balancing Control Asset
Payments & Stores Control Asset
Inter Divisional Transfers Asset
Intangible Assets Asset
Devlopment Costs Asset
Concessions, patents, licenses Asset
Goodwill Asset
Payment on Account Asset
Fixed Assets Invest Prop Asset
FA Cap Cont Liability
FA Cap Cont Qual WDA Liability
Accumulated Depn Generation Liability
Accumulated Depn Inv Properti Liability
Accumulated Depn Distribution Liability
Accum Depn Operational Building Liability
Accum Depn Distribution P&M Di Liability
Accum Depn Distribution Land Liability
Accum Depn Reval Adj Liability
Accumulation Depn Op Bldgs Liability
Accum Depn Distribution Liability
Accumulated Depn Other Liability
Output Tax Std 5% Liability
Creditors Liability
Payroll Deductions Liability
Superannuating Liability
Trade Creditors Liability
Provisions for Liabilities and Liability
Capital & Reserves Owners Equity
Called Up Share Capital Owners Equity
Share Premium Owners Equity
Profit & Loss Reserve Owners Equity
Turnover Revenue
Gas Sales Revenue
YE Gas Brigg Charges Revenue
Turn Other Internal Revenue
Turn Int Cap profit Revenue
Turnover Int Co Capital Prof Revenue
Other Operating Income Revenue
Income from Investments Revenue
Sale of FA Investments Revenue
Int Received/Receivable Revenue
Test Only Not for Use Expense
VAT Memorandum Account Expense
Chargeable Output tax Std 5% Expense
VAT Input Car Leasing 50% Disa Expense
VAT Input Overseas Services Expense
GS Failures Expense
GS Jobs Expense
Average Minutes Lost / Custom Expense
OS Failures Expense
OS Jobs Expense
No of Complaints of Chairman Expense
Offer Complaints Expense
Other Complaints Expense
No Not Answered within Target Expense
Units Distributed Expense
Units sold Expense
Customers Retained No Expense
Customers Lost No. Expense
Answer Written to Customer Eng Expense
Telephone Response Time Expense
Quarterly Debtor Days Expense
Decrease Bad Debt Prov Expense
Electricity Generated - Ovende Expense
Availability - Ovenden moor Expense
Generation (MW hrs) Commonside Expense
Staff costs/Turnover BSD Expense
Total Costs / Turnover BSD Expense
Mainframe Av Availability Expense
Mainframe OP availability Expense
Mainframe outtages Expense
OP Outages Expense
Development Projects Delivered Expense
Service Agreement Failures OP Expense
Network Availability Expense
Average Resolution Times Expense
Non Industrial Staff Nos Expense
Industrial Staff Nos Expense
Overtime % Normal Expense
Sickness % Normal Expense
Lost Time Accidents Expense
3 Day Absences Expense
project Accounting Contrl Expense
Miscellaneous Transactions Expense
Salaries Oncost Control Expense
Distribution - System Charges Expense
Car Allowances Control Expense
Transport SuspenseCable Oil Location Expense
Credit Sale Agreements Expense
Staff Expenses suspense Expense
Bad Debt Control Expense
Drums & Packages Control Expense
Sale of Assets Control Expense
Control & Suspense - Expense
Capital Expenditure Written Of Expense
Customer Contributions Control Expense
Other Capital Receipts Control Expense
Lease Installments Payment Control Expense
Credit Sale Deposits Suspense Expense
Capital Oncost Suspense Expense
Homepower Cash Control Expense
Club 24 Control Expense
Payments & Stores Control Expense
Powerlink Expense
Salaries Control Expense
Monthly Paid Industrial Staff Expense
Batch Differences Suspense Expense
NED Suspense for cash collection Expense
Drawings Control Expense
Mentor Drawings (NED only) Expense
CIT Control Account Expense
Test Only Not for Use Expense
064 Expense
Domestic Gas Expense
Turn Other Int Cap - Group Act Expense
Turn Int Cap Profit - Group Ac Expense
Turn Other Int Cap exc Profit Expense
Turn Other Int Rev Expense
Turn Other Inter Co Cap Expense
.Turn Other Inter Co Cap Profit Expense
Turn Other Inter Co Cap Exc Pr Expense
Turn Other Inter Co Rev - Group Expense
Turnover Inter Co Revenue Natu Expense
Turn Other Non Discretionary Expense
Cost of Sales Expense
Cofs Purch of Electricity Expense
Cost of Sales - Gas Costs Expense
Cost of Sales - Gas Transportat Expense
Cofs Exit Charges Expense
Cofs - Other Directs Expense
Distribution Costs Expense
Dist Indirect Expense
Distribution Costs Expense
Dist Indirect Expense
Cont Accs nil co wide Expense
Admin Costs Expense
Admin Non Discretionary Expense
Admin Indirects Expense
Gas YEL Recharges Retail Expense
Gas Salaries Expense
Admin Costs Expense
Admin indirect Bad Debts Expense
Group Non Discretionary Expense
Energy Efficiency Expense
Takeover Costs Expense
Sale of FA investments Expense
Interest Paid/Payable Expense
Int Pay Bank Loans Ext Expense
Interest Payable Expense
Int Pay Other Loans Expense
Interest Payable - Bonds Expense
Int Pay Capitalized Expense
P & L Taxation Expense
Tax Corp - Tax Payable Expense
Tax UK Corp Tax Expense
Tax Assoc Companies Expense
Tax FII - % Expense
Tax Adj re earlier years Expense
P&L Dividends Expense
<PAGE>
EXHIBIT E DOCUMENT:
COPIES OF PERSONNEL POLICIES AS THEY RELATE TO RULE 48(b):
American Electric Power Exempt
Employees and Nonexempt Supervisors
Relocation Expense Policy . . . . . . . Incorporated by Reference to
1994 Form U5S Annual Report,
File No. 30-150
American Electric Power Employee
Equipment Installation Program. . . . . See Document below
<PAGE>
EXHIBIT E DOCUMENT:
Employee Equipment Installation Program
In the belief that the actions of our employees are examples for
our customers and that employees play an important role in
demonstrating efficient electric concepts, AEPSC offers an
Employee Equipment Installation Program. The availability of
this program within an operating company is subject to
legislative limitations existing within each state. All
operating companies and AEP subsidiaries (Fuel Supply, United
Mine Workers, Barge Division, etc.) may offer active employees an
Equipment Installation Program. This is available to regular,
active employees, including those who do not receive retail
electric service from an AEP operating Company.
Two Equipment Installation Program options for employees are
available. These are as follows:
Option #1
The company will finance approved HVAC equipment installations
for heat pumps and dual fuel heat pump at 2% simple interest per
annum.
Note - The 2% financing option may NOT be available in all
operating companies due to regulatory restrictions.
The minimum finance rate of 2.0% is offered in lieu of any sort
of company sponsored employee rebate/installation allowance
program.
Employees that prefer a cash rebate and/or installation allowance
may opt for Option #2.
Option #2
The company will offer a rebate and/or an equipment installation
allowance. The difference between allowances for employees
converting from fossil fuel or constructing a new home and
allowances for employees with existing electric heat helps offset
the cost of adding breakers/increasing switch gear size. The
allowances are as follows:
For Employees With Existing Electric Heat
Heat Pump $300 Allowance
Dual Fuel Heat Pump $200 Allowance
For Employees Without Electric Heat Or
Constructing A New Home
Heat Pump $600 Allowance
Dual Fuel Heat Pump $400 Allowance
If an employee selects this Option #2 rebate/installation
allowance, a minimum loan of not less than 8% simple interest per
annum (maximum term 10 years) can be offered for any HVAC system
that meets company specifications.
Generally speaking, program Options #1 and #2 will be available
to all active, regular, employees of any AEP System Company or
subsidiary but only for their primary residence.
Employees on Long-Term Disability (LTD) cannot apply for
participation in a finance program until such time as they return
to an active employee status; however, such employees are
eligible to receive the rebate/installation allowance under
Option #2. The operating company that is the employer of the
employees will be responsible for implementing this program for
their employee regardless of where the employee lives.
Accounting instructions issued by AEPSC Treasury Staff and C&MS
Department Policy memos have been issued for these programs.
Only those equipment installation options that can be financed or
receive rebates for employees by an operating company are:
Equipment Efficiency and Control Requirements
* High Efficiency Heat Pump (minimum SEER rating of 10).
* Dual Fuel Heat Pumps (Efficiency minimum same as high
efficiency heat pump criteria listed above).
Repayment of finance Options #1 and #2 should be made through
payroll deductions. The period for any loan cannot exceed ten
years.
Repayment of loans by persons on Long-Term Disability or
employees called to active duty by the armed forces will be
deferred until such time as the employee returns to active
status. A loan will not exceed the installed cost of the
equipment to be financed and may include the cost of wiring but
exclude any physical modification to the home and/or major
ductwork installation except for minor ductwork modifications
required by an equipment replacement.
Retiree/Surviving Spouse Allowance Program
AEP System retirees or their surviving spouses will be eligible
to receive the rebate/wiring allowance Portion of Option #2.
Eligibility for this group is limited only to those retirees or
their surviving spouses who are retail customers of an AEP
operating company that offers the program. Also, the rebate is a
one-time payment for a retiree/surviving spouse and is applicable
only for their principle place of residence.
<PAGE>
EXHIBIT F
SCHEDULES SUPPORTING ITEMS OF THE REPORT
SCHEDULE SUPPORTING ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS
The following tables show the intercompany transactions recorded pursuant to
the AFFILIATED TRANSACTIONS AGREEMENT.
<PAGE>
<TABLE>
<CAPTION>
KINGSPORT POWER COMPANY PAGE 1
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
O&M COSTS
MARKETING
CONSUMER MARKETING 0 0 0 0 0 0 0 0 0
KEY ACCOUNTS 27,001 0 27,001 0 0 0 0 0 0
ECONOMIC DEVELOPMENT 0 0 0 0 0 0 0 0 0
BUSINESS SERVICES 27,178 0 27,178 0 0 0 0 0 0
MARKETING SUPPORT SERVICES 0 0 0 0 0 0 0 0 0
DISTRIBUTION REGIONS
MANAGERIAL 12,203 0 12,203 0 0 0 0 0 0
CUSTOMER SERVICES 6,123 0 6,123 0 0 0 0 0 0
ENG - ENGINEERING & PLANNING 18,076 0 18,076 0 0 0 0 0 0
ENG - ENGINEERING & DRAFTING 9 0 9 0 0 0 0 0 0
OPERATIONS - ADMINISTRATIVE 0 0 0 0 0 0 0 0 0
OPERATIONS - METER 2,647 0 2,647 0 0 0 0 0 0
OPERATIONS - LINE 13,204 0 13,204 0 0 0 0 0 0
ENERGY DISTRIBUTION SUPPORT
DISTRIBUTION OPERATIONS
DISTRIBUTION OPERATIONS 0 0 0 0 0 0 0 0 0
RIGHT OF WAY MAINTENANCE 0 0 0 0 0 0 0 0 0
DISTRIBUTION ENGINEERING
ENGINEERING & PLANNING 0 0 0 0 0 0 0 0 0
DISTRIBUTION DATA SYSTEMS
DATABASE APPLICATIONS 0 0 0 0 0 0 0 0 0
JOINT USE 0 0 0 0 0 0 0 0 0
CUSTOMER SERVICES
CUSTOMER CALL CENTERS 0 0 0 0 0 0 0 0 0
ENERGY TRANSMISSION
TRANSMISSION REGIONS
TRANSMISSION LINE 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL 4,297 0 4,297 0 0 0 0 0 0
STATION 73,918 0 73,918 0 0 0 0 0 0
TRANSMISSION SYSTEM ENGINEERING
LINE ENGINEERING 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/RIGHT OF WAY 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/SURVEY 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL ENG. 0 0 0 0 0 0 0 0 0
STATION ENGINEERING 0 0 0 0 0 0 0 0 0
STATION CONSTRUCTION, O&M ADMIN
SYSTEM MAINT., TOOLS & EQUIP. 0 0 0 0 0 0 0 0 0
OPERATIONS CENTER 0 0 0 0 0 0 0 0 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
KINGSPORT POWER COMPANY PAGE 2
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
ENERGY DELIVERY SUPPORT
MEASUREMENTS & CUSTOMER SUPPORT
MEASUREMENTS ENG. & SUPPORT 0 0 0 0 0 0 0 0 0
METER OPERATIONS 0 0 0 0 0 0 0 0 0
TELECOMMUNICATIONS
TELECOMMUNICATIONS ENGINEERING 0 0 0 0 0 0 0 0 0
TELECOMMUNICATIONS OPERATIONS 3,378 0 3,378 0 0 0 0 0 0
OPERATIONS IMPROVEMENT
LAND MANAGEMENT-FORESTRY 0 0 0 0 0 0 0 0 0
LAND MANAGEMENT-REAL ESTATE 0 0 0 0 0 0 0 0 0
OPERATIONS ANALYSIS 0 0 0 0 0 0 0 0 0
ADMINISTRATIVE SUPPORT
ADMINISTRATIVE
STATE PRES/ENVIR & GOV'T AFF 0 0 0 0 0 0 0 0 0
CORPORATE COMMUNICATIONS 0 0 0 0 0 0 0 0 0
RATES 0 0 0 0 0 0 0 0 0
OTHER ADMINISTRATIVE GROUPS 165 0 165 0 0 0 0 0 0
ACCOUNTING
ADMINISTRATIVE 0 0 0 0 0 0 0 0 0
ACCOUNTS PAYABLE 0 0 0 0 0 0 0 0 0
CASH MANAGEMENT 0 0 0 0 0 0 0 0 0
CENTRALIZED CASH 0 0 0 0 0 0 0 0 0
CUSTOMER ACCOUNTING 0 0 0 0 0 0 0 0 0
DATA PROCESSING 0 0 0 0 0 0 0 0 0
ELECTRIC PLANT 0 0 0 0 0 0 0 0 0
GENERAL RECORDS 0 0 0 0 0 0 0 0 0
REPORTS 0 0 0 0 0 0 0 0 0
PC & SOFTWARE SUPPORT 0 0 0 0 0 0 0 0 0
CORPORATE SERVICES
CORPORATE SERVICES-ADMIN 0 0 0 0 0 0 0 0 0
FLEET MANAGEMENT 19,090 0 17,395 0 0 731 0 0 964
BUILDING SERVICES 2,374 0 2,374 0 0 0 0 0 0
OFFICES SERVICES 0 0 0 0 0 0 0 0 0
LABOR FRINGES ON O&M LABOR 56,066 0 56,066 0 0 0 0 0 0
TOTAL O&M COSTS 265,729 0 264,034 0 0 731 0 0 964
CONSTRUCTION, RETIREMENT,OTHER WIP 155,732 0 155,636 0 96 0 0 0 0
MATERIAL & SUPPLY COSTS 12,752 0 11,487 1,207 58 0 0 0 0
FACILITY COSTS 2,226 0 0 0 0 0 0 0 2,226
INVESTMENT CARRYING CHARGES 4,956 0 0 0 0 0 0 0 4,956
COMPANY TOTAL 441,395 0 431,157 1,207 154 731 0 0 8,146
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY PAGE 3
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
O&M COSTS
MARKETING
CONSUMER MARKETING 18,294 119 0 17,898 203 0 0 74 0
KEY ACCOUNTS 49,178 21,267 0 27,436 103 0 0 372 0
ECONOMIC DEVELOPMENT 7,242 7,242 0 0 0 0 0 0 0
BUSINESS SERVICES 62,607 19,952 0 19,988 440 12,696 1,121 8,411 0
MARKETING SUPPORT SERVICES 0 0 0 0 0 0 0 0 0
DISTRIBUTION REGIONS
MANAGERIAL 33,344 30,418 0 (893) 0 0 0 3,819 0
CUSTOMER SERVICES 75,719 73,019 0 628 0 0 220 1,852 0
ENG - ENGINEERING & PLANNING 5,128 3,861 0 1,014 127 24 0 102 0
ENG - ENGINEERING & DRAFTING 16,694 14,811 0 240 0 0 0 1,644 0
OPERATIONS - ADMINISTRATIVE 15,974 15,001 0 724 93 0 0 156 0
OPERATIONS - METER 11,977 8,519 0 0 0 3,457 0 1 0
OPERATIONS - LINE 26,856 5,006 0 15,859 313 830 373 4,475 0
ENERGY DISTRIBUTION SUPPORT
DISTRIBUTION OPERATIONS
DISTRIBUTION OPERATIONS 63 0 0 63 0 0 0 0 0
RIGHT OF WAY MAINTENANCE 26,673 12,704 0 13,969 0 0 0 0 0
DISTRIBUTION ENGINEERING
ENGINEERING & PLANNING 93 0 0 93 0 0 0 0 0
DISTRIBUTION DATA SYSTEMS
DATABASE APPLICATIONS 9,618 0 0 0 4,823 2,877 0 1,918 0
JOINT USE 1,045 0 0 1,045 0 0 0 0 0
CUSTOMER SERVICES
CUSTOMER CALL CENTERS 84,216 83,494 0 722 0 0 0 0 0
ENERGY TRANSMISSION
TRANSMISSION REGIONS
TRANSMISSION LINE 20,102 2,160 0 17,943 0 0 0 0 0
PROTECTION & CONTROL 36,320 1,012 0 33,793 16 0 0 1,500 0
STATION 97,977 35,142 0 39,031 0 0 0 23,804 0
TRANSMISSION SYSTEM ENGINEERING
LINE ENGINEERING 13 0 0 0 0 0 0 0 13
LINE ENGINEERING/RIGHT OF WAY 265 13 0 252 0 0 0 0 0
LINE ENGINEERING/SURVEY 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL ENG. 0 0 0 0 0 0 0 0 0
STATION ENGINEERING 0 0 0 0 0 0 0 0 0
STATION CONSTRUCTION, O&M ADMIN
SYSTEM MAINT., TOOLS & EQUIP. 97,507 4,121 0 85,975 480 1,023 213 5,695 0
OPERATIONS CENTER 568,260 212,648 0 348,367 6,911 0 0 334 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
APPALACHIAN POWER COMPANY PAGE 4
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
ENERGY DELIVERY SUPPORT
MEASUREMENTS & CUSTOMER SUPPORT
MEASUREMENTS ENG. & SUPPORT 3,217 268 0 2,949 0 0 0 0 0
METER OPERATIONS 5,481 4,522 0 75 435 48 0 401 0
TELECOMMUNICATIONS
TELECOMMUNICATIONS ENGINEERING 0 0 0 0 0 0 0 0 0
TELECOMMUNICATIONS OPERATIONS 74,334 10,598 0 (9,713) 0 1 0 73,448 0
OPERATIONS IMPROVEMENT
LAND MANAGEMENT-FORESTRY 0 0 0 0 0 0 0 0 0
LAND MANAGEMENT-REAL ESTATE 1,218 0 0 1,218 0 0 0 0 0
OPERATIONS ANALYSIS 0 0 0 0 0 0 0 0 0
ADMINISTRATIVE SUPPORT
ADMINISTRATIVE
STATE PRES/ENVIR & GOV'T AFF 54,960 20,900 0 439 0 74 32,968 579 0
CORPORATE COMMUNICATIONS 7,265 1,987 0 0 0 0 5,278 0 0
RATES 30,203 33 0 0 0 0 30,170 0 0
OTHER ADMINISTRATIVE GROUPS 66,044 3,028 0 14,469 12,800 4,800 2,000 28,947 0
ACCOUNTING
ADMINISTRATIVE 19,022 14,813 0 1,143 2,235 0 831 0 0
ACCOUNTS PAYABLE 5,691 4,889 0 0 203 0 0 599 0
CASH MANAGEMENT 0 0 0 0 0 0 0 0 0
CENTRALIZED CASH 9,955 9,955 0 0 0 0 0 0 0
CUSTOMER ACCOUNTING 13,463 13,463 0 0 0 0 0 0 0
DATA PROCESSING 10,829 10,829 0 0 0 0 0 0 0
ELECTRIC PLANT 5,145 5,145 0 0 0 0 0 0 0
GENERAL RECORDS 47,787 45,733 0 0 0 0 2,054 0 0
REPORTS 12,510 12,289 0 0 0 0 221 0 0
PC & SOFTWARE SUPPORT 4,562 4,379 0 0 0 0 183 0 0
CORPORATE SERVICES
CORPORATE SERVICES-ADMIN 3,084 2,369 0 715 0 0 0 0 0
FLEET MANAGEMENT 264,348 22,611 0 215,781 109 548 272 14,354 10,673
BUILDING SERVICES 11,111 9,351 0 6 0 0 0 1,754 0
OFFICES SERVICES 10,793 10,785 0 0 0 8 0 0 0
LABOR FRINGES ON O&M LABOR 385,280 176,006 0 161,976 2,396 3,763 16,581 24,557 0
TOTAL O&M COSTS 2,311,468 934,459 0 1,013,204 31,687 30,148 92,486 198,797 10,686
CONSTRUCTION,RETIREMENT,OTHER WIP 1,582,186 304,577 0 1,032,176 32,729 13,526 3,037 196,141 0
MATERIAL & SUPPLY COSTS 1,284,424 113,147 0 773,811 77,293 87,988 12,552 219,633 0
FACILITY COSTS 448,694 0 0 5,221 60,482 594 0 39,222 343,175
INVESTMENT CARRYING CHARGES 177,509 0 0 5,017 31,878 1,102 0 83,551 55,961
COMPANY TOTAL 5,804,281 1,352,183 0 2,829,429 234,069 133,358 108,075 737,344 409,822
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
KENTUCKY POWER COMPANY PAGE 5
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
O&M COSTS
MARKETING
CONSUMER MARKETING 2,065 700 0 0 0 0 0 1,365 0
KEY ACCOUNTS 203,070 0 188,632 0 0 0 14,438 0 0
ECONOMIC DEVELOPMENT 0 0 0 0 0 0 0 0 0
BUSINESS SERVICES 3,011 55 2,407 0 0 165 117 267 0
MARKETING SUPPORT SERVICES 0 0 0 0 0 0 0 0 0
DISTRIBUTION REGIONS
MANAGERIAL 13,680 0 7,369 0 0 0 14 6,297 0
CUSTOMER SERVICES 363,200 (100) 322,468 0 0 0 0 40,832 0
ENG - ENGINEERING & PLANNING 28,313 0 11,020 0 12,715 0 0 4,578 0
ENG - ENGINEERING & DRAFTING 228 0 0 0 0 0 0 228 0
OPERATIONS - ADMINISTRATIVE 33,325 0 17,627 0 0 4,205 0 11,493 0
OPERATIONS - METER 0 0 0 0 0 0 0 0 0
OPERATIONS - LINE 374,480 672 364,546 0 87 70 0 9,105 0
ENERGY DISTRIBUTION SUPPORT
DISTRIBUTION OPERATIONS
DISTRIBUTION OPERATIONS 0 0 0 0 0 0 0 0 0
RIGHT OF WAY MAINTENANCE 0 0 0 0 0 0 0 0 0
DISTRIBUTION ENGINEERING
ENGINEERING & PLANNING 0 0 0 0 0 0 0 0 0
DISTRIBUTION DATA SYSTEMS
DATABASE APPLICATIONS 0 0 0 0 0 0 0 0 0
JOINT USE 0 0 0 0 0 0 0 0 0
CUSTOMER SERVICES
CUSTOMER CALL CENTERS 248,761 0 0 0 0 0 248,761 0 0
ENERGY TRANSMISSION
TRANSMISSION REGIONS
TRANSMISSION LINE 169,706 3,879 70,418 0 3,225 28,439 2,884 60,861 0
PROTECTION & CONTROL 24,450 15 24,364 0 0 0 0 71 0
STATION 155,306 397 125,918 0 (816) 3,654 183 25,969 0
TRANSMISSION SYSTEM ENGINEERING
LINE ENGINEERING 1,111 0 557 0 277 0 0 277 0
LINE ENGINEERING/RIGHT OF WAY 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/SURVEY 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL ENG. 0 0 0 0 0 0 0 0 0
STATION ENGINEERING 0 0 0 0 0 0 0 0 0
STATION CONSTRUCTION, O&M ADMIN
SYSTEM MAINT., TOOLS & EQUIP. 0 0 0 0 0 0 0 0 0
OPERATIONS CENTER 0 0 0 0 0 0 0 0 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
KENTUCKY POWER COMPANY PAGE 6
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
ENERGY DELIVERY SUPPORT
MEASUREMENTS & CUSTOMER SUPPORT
MEASUREMENTS ENG. & SUPPORT 4,975 0 2,437 0 0 762 0 1,776 0
METER OPERATIONS 44,107 0 35,822 0 0 12 0 8,273 0
TELECOMMUNICATIONS
TELECOMMUNICATIONS ENGINEERING 0 0 0 0 0 0 0 0 0
TELECOMMUNICATIONS OPERATIONS 32,807 (410) 28,599 0 375 1,846 0 2,397 0
OPERATIONS IMPROVEMENT
LAND MANAGEMENT-FORESTRY 0 0 0 0 0 0 0 0 0
LAND MANAGEMENT-REAL ESTATE 0 0 0 0 0 0 0 0 0
OPERATIONS ANALYSIS 0 0 0 0 0 0 0 0 0
ADMINISTRATIVE SUPPORT
ADMINISTRATIVE
STATE PRES/ENVIR & GOV'T AFF 0 0 0 0 0 0 0 0 0
CORPORATE COMMUNICATIONS 0 0 0 0 0 0 0 0 0
RATES 0 0 0 0 0 0 0 0 0
OTHER ADMINISTRATIVE GROUPS (5,264) (2,049) 0 0 0 (3,215) 0 0 0
ACCOUNTING
ADMINISTRATIVE 0 0 0 0 0 0 0 0 0
ACCOUNTS PAYABLE 0 0 0 0 0 0 0 0 0
CASH MANAGEMENT 0 0 0 0 0 0 0 0 0
CENTRALIZED CASH 0 0 0 0 0 0 0 0 0
CUSTOMER ACCOUNTING 0 0 0 0 0 0 0 0 0
DATA PROCESSING 0 0 0 0 0 0 0 0 0
ELECTRIC PLANT 0 0 0 0 0 0 0 0 0
GENERAL RECORDS 0 0 0 0 0 0 0 0 0
REPORTS 0 0 0 0 0 0 0 0 0
PC & SOFTWARE SUPPORT 0 0 0 0 0 0 0 0 0
CORPORATE SERVICES
CORPORATE SERVICES-ADMIN 0 0 0 0 0 0 0 0 0
FLEET MANAGEMENT 13,017 2,798 4,010 0 0 589 17 3,508 2,095
BUILDING SERVICES 15,788 0 6,742 0 0 0 0 9,046 0
OFFICES SERVICES 31 0 31 0 0 0 0 0 0
LABOR FRINGES ON O&M LABOR 360,324 546 256,287 0 3,303 6,301 55,747 38,140 0
TOTAL O&M COSTS 2,086,491 6,503 1,469,256 0 19,166 42,828 322,161 224,482 2,095
CONSTRUCTION, RETIREMENT, OTHER WIP 1,265,128 0 1,062,582 0 12,586 33,621 0 156,339 0
MATERIAL & SUPPLY COSTS 207,386 1,352 172,532 0 (51,863) 5,459 795 79,111 0
FACILITY COSTS 206,364 0 49,356 0 0 0 0 43,188 113,820
INVESTMENT CARRYING CHARGES 236,208 0 56,496 0 0 0 0 49,440 130,272
COMPANY TOTAL 4,001,577 7,855 2,810,222 0 (20,111) 81,908 322,956 552,560 246,187
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY PAGE 7
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
O&M COSTS
MARKETING
CONSUMER MARKETING 2,217 654 0 452 0 20 0 1,091 0
KEY ACCOUNTS 13,631 723 2,537 0 0 4,567 0 5,804 0
ECONOMIC DEVELOPMENT (6) (6) 0 0 0 0 0 0 0
BUSINESS SERVICES 0 0 0 0 0 0 0 0 0
MARKETING SUPPORT SERVICES 9,288 0 0 0 0 0 0 9,288 0
DISTRIBUTION REGIONS
MANAGERIAL (1,141) (80) (434) 0 0 (473) (200) 46 0
CUSTOMER SERVICES 5,038 74 100 0 0 793 0 4,071 0
ENG - ENGINEERING & PLANNING 683 0 683 0 0 0 0 0 0
ENG - ENGINEERING & DRAFTING 0 0 0 0 0 0 0 0 0
OPERATIONS - ADMINISTRATIVE 10 0 10 0 0 0 0 0 0
OPERATIONS - METER 28 0 0 28 0 0 0 0 0
OPERATIONS - LINE 11,146 545 7,645 (22) 0 (299) 1,628 1,649 0
ENERGY DISTRIBUTION SUPPORT
DISTRIBUTION OPERATIONS
DISTRIBUTION OPERATIONS 1,804 0 0 0 0 0 0 1,804 0
RIGHT OF WAY MAINTENANCE 1,916 0 0 0 0 0 249 1,667 0
DISTRIBUTION ENGINEERING
ENGINEERING & PLANNING 3,774 0 0 0 0 0 0 3,774 0
DISTRIBUTION DATA SYSTEMS
DATABASE APPLICATIONS 0 0 0 0 0 0 0 0 0
JOINT USE 386 0 0 386 0 0 0 0 0
CUSTOMER SERVICES
CUSTOMER CALL CENTERS 64,777 0 0 0 0 64,530 0 247 0
ENERGY TRANSMISSION
TRANSMISSION REGIONS
TRANSMISSION LINE 4,361 0 (55) 0 0 2,125 626 1,665 0
PROTECTION & CONTROL (308) 0 (308) 0 0 0 0 0 0
STATION 53,898 4 2,409 0 0 89 (3) 51,399 0
TRANSMISSION SYSTEM ENGINEERING
LINE ENGINEERING 78 0 78 0 0 0 0 0 0
LINE ENGINEERING/RIGHT OF WAY 3,234 0 709 0 0 0 0 2,525 0
LINE ENGINEERING/SURVEY 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL ENG. 0 0 0 0 0 0 0 0 0
STATION ENGINEERING 0 0 0 0 0 0 0 0 0
STATION CONSTRUCTION, O&M ADMIN
SYSTEM MAINT., TOOLS & EQUIP. 22,836 1 7,586 26 0 (29) 1,091 14,161 0
OPERATIONS CENTER 1,123 0 449 225 0 0 449 0 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDIANA MICHIGAN POWER COMPANY PAGE 8
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
ENERGY DELIVERY SUPPORT
MEASUREMENTS & CUSTOMER SUPPORT
MEASUREMENTS ENG. & SUPPORT 0 0 0 0 0 0 0 0 0
METER OPERATIONS 4,760 775 0 0 0 0 0 3,985 0
TELECOMMUNICATIONS
TELECOMMUNICATIONS ENGINEERING 1 1 0 0 0 0 0 0 0
TELECOMMUNICATIONS OPERATIONS 28,027 0 4,835 688 0 0 0 22,504 0
OPERATIONS IMPROVEMENT
LAND MANAGEMENT-FORESTRY 0 0 0 0 0 0 0 0 0
LAND MANAGEMENT-REAL ESTATE 0 0 0 0 0 0 0 0 0
OPERATIONS ANALYSIS 0 0 0 0 0 0 0 0 0
ADMINISTRATIVE SUPPORT
ADMINISTRATIVE
STATE PRES/ENVIR & GOV'T AFF 0 0 0 0 0 0 0 0 0
CORPORATE COMMUNICATIONS 3,596 200 1,597 998 0 0 0 801 0
RATES 0 0 0 0 0 0 0 0 0
OTHER ADMINISTRATIVE GROUPS (622) 13 (122) 159 0 (2,209) 837 619 81
ACCOUNTING
ADMINISTRATIVE 0 0 0 0 0 0 0 0 0
ACCOUNTS PAYABLE 0 0 0 0 0 0 0 0 0
CASH MANAGEMENT 0 0 0 0 0 0 0 0 0
CENTRALIZED CASH 0 0 0 0 0 0 0 0 0
CUSTOMER ACCOUNTING 0 0 0 0 0 0 0 0 0
DATA PROCESSING 0 0 0 0 0 0 0 0 0
ELECTRIC PLANT 0 0 0 0 0 0 0 0 0
GENERAL RECORDS 0 0 0 0 0 0 0 0 0
REPORTS 0 0 0 0 0 0 0 0 0
PC & SOFTWARE SUPPORT 0 0 0 0 0 0 0 0 0
CORPORATE SERVICES
CORPORATE SERVICES-ADMIN (1,535) (535) 0 0 0 0 0 (1,000) 0
FLEET MANAGEMENT 144,231 1,791 142 4,644 0 150 74 129,488 7,942
BUILDING SERVICES 8,007 55 58 650 0 1,072 59 6,113 0
OFFICES SERVICES 3,144 234 2,910 0 0 0 0 0 0
LABOR FRINGES ON O&M LABOR 27,796 42 4,079 312 0 862 688 21,814 0
TOTAL O&M COSTS 416,178 4,491 34,908 8,546 0 71,198 5,498 283,514 8,023
CONSTRUCTION, RETIREMENT, OTHER WIP 205,052 0 12,187 1,507 0 10,751 0 180,607 0
MATERIAL & SUPPLY COSTS 739,635 142 210,431 15,103 0 8,913 1,337 503,709 0
FACILITY COSTS 1,541,030 0 0 0 0 0 0 0 1,541,030
INVESTMENT CARRYING CHARGES 370 0 0 0 0 0 0 0 370
COMPANY TOTAL 2,902,265 4,633 257,526 25,156 0 90,862 6,835 967,830 1,549,423
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
WHEELING POWER COMPANY PAGE 9
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
O&M COSTS
MARKETING
CONSUMER MARKETING 523 0 0 0 0 248 0 275 0
KEY ACCOUNTS 0 0 0 0 0 0 0 0 0
ECONOMIC DEVELOPMENT 0 0 0 0 0 0 0 0 0
BUSINESS SERVICES 0 0 0 0 0 0 0 0 0
MARKETING SUPPORT SERVICES 0 0 0 0 0 0 0 0 0
DISTRIBUTION REGIONS
MANAGERIAL 0 0 0 0 0 0 0 0 0
CUSTOMER SERVICES 0 0 0 0 0 0 0 0 0
ENG - ENGINEERING & PLANNING 91 0 0 0 0 0 0 91 0
ENG - ENGINEERING & DRAFTING 38 0 0 0 0 0 0 38 0
OPERATIONS - ADMINISTRATIVE 0 0 0 0 0 0 0 0 0
OPERATIONS - METER 15,172 0 0 0 48 0 0 15,124 0
OPERATIONS - LINE 8,919 0 0 0 505 5,088 0 3,326 0
ENERGY DISTRIBUTION SUPPORT
DISTRIBUTION OPERATIONS
DISTRIBUTION OPERATIONS 0 0 0 0 0 0 0 0 0
RIGHT OF WAY MAINTENANCE 1,188 0 0 0 0 1,188 0 0 0
DISTRIBUTION ENGINEERING
ENGINEERING & PLANNING 0 0 0 0 0 0 0 0 0
DISTRIBUTION DATA SYSTEMS
DATABASE APPLICATIONS 0 0 0 0 0 0 0 0 0
JOINT USE 0 0 0 0 0 0 0 0 0
CUSTOMER SERVICES
CUSTOMER CALL CENTERS 0 0 0 0 0 0 0 0 0
ENERGY TRANSMISSION
TRANSMISSION REGIONS
TRANSMISSION LINE 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL 0 0 0 0 0 0 0 0 0
STATION 92,222 50 418 0 0 0 0 91,754 0
TRANSMISSION SYSTEM ENGINEERING
LINE ENGINEERING 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/RIGHT OF WAY 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/SURVEY 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL ENG. 0 0 0 0 0 0 0 0 0
STATION ENGINEERING 0 0 0 0 0 0 0 0 0
STATION CONSTRUCTION, O&M ADMIN
SYSTEM MAINT., TOOLS & EQUIP. 0 0 0 0 0 0 0 0 0
OPERATIONS CENTER 0 0 0 0 0 0 0 0 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
WHEELING POWER COMPANY PAGE 10
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
ENERGY DELIVERY SUPPORT
MEASUREMENTS & CUSTOMER SUPPORT
MEASUREMENTS ENG. & SUPPORT 0 0 0 0 0 0 0 0 0
METER OPERATIONS 0 0 0 0 0 0 0 0 0
TELECOMMUNICATIONS
TELECOMMUNICATIONS ENGINEERING 0 0 0 0 0 0 0 0 0
TELECOMMUNICATIONS OPERATIONS 5,278 0 0 0 0 0 0 5,278 0
OPERATIONS IMPROVEMENT
LAND MANAGEMENT-FORESTRY 0 0 0 0 0 0 0 0 0
LAND MANAGEMENT-REAL ESTATE 0 0 0 0 0 0 0 0 0
OPERATIONS ANALYSIS 0 0 0 0 0 0 0 0 0
ADMINISTRATIVE SUPPORT
ADMINISTRATIVE
STATE PRES/ENVIR & GOV'T AFF 0 0 0 0 0 0 0 0 0
CORPORATE COMMUNICATIONS 453 0 0 0 0 0 0 453 0
RATES 0 0 0 0 0 0 0 0 0
OTHER ADMINISTRATIVE GROUPS 0 0 0 0 0 0 0 0 0
ACCOUNTING
ADMINISTRATIVE 0 0 0 0 0 0 0 0 0
ACCOUNTS PAYABLE 0 0 0 0 0 0 0 0 0
CASH MANAGEMENT 0 0 0 0 0 0 0 0 0
CENTRALIZED CASH 0 0 0 0 0 0 0 0 0
CUSTOMER ACCOUNTING 0 0 0 0 0 0 0 0 0
DATA PROCESSING 0 0 0 0 0 0 0 0 0
ELECTRIC PLANT 0 0 0 0 0 0 0 0 0
GENERAL RECORDS 0 0 0 0 0 0 0 0 0
REPORTS 0 0 0 0 0 0 0 0 0
PC & SOFTWARE SUPPORT 0 0 0 0 0 0 0 0 0
CORPORATE SERVICES
CORPORATE SERVICES-ADMIN 0 0 0 0 0 0 0 0 0
FLEET MANAGEMENT 14,193 371 483 0 0 0 0 13,228 111
BUILDING SERVICES 2,361 0 0 0 0 970 0 1,391 0
OFFICES SERVICES 0 0 0 0 0 0 0 0 0
LABOR FRINGES ON O&M LABOR 30,514 0 109 0 15 1,283 0 29,107 0
TOTAL O&M COSTS 170,951 421 1,010 0 568 8,777 0 160,064 111
CONSTRUCTION, RETIREMENT, OTHER WIP 108,780 0 0 0 0 8,465 0 100,315 0
MATERIAL & SUPPLY COSTS 27,457 0 336 0 122 8 0 26,991 0
FACILITY COSTS 0 0 0 0 0 0 0 0 0
INVESTMENT CARRYING CHARGES 0 0 0 0 0 0 0 0 0
COMPANY TOTAL 307,188 421 1,346 0 690 17,250 0 287,370 111
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY PAGE 11
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
O&M COSTS
MARKETING
CONSUMER MARKETING 21,217 0 0 (51) 0 16,519 4,749 0 0
KEY ACCOUNTS 481 0 0 0 0 481 0 0 0
ECONOMIC DEVELOPMENT 0 0 0 0 0 0 0 0 0
BUSINESS SERVICES 39,022 6 144 4,779 640 20,771 12,683 0 0
MARKETING SUPPORT SERVICES 0 0 0 0 0 0 0 0 0
DISTRIBUTION REGIONS
MANAGERIAL 194,141 1,640 50,536 1,666 0 95,407 44,892 0 0
CUSTOMER SERVICES 538,225 40,991 265,061 105 482 219,275 12,311 0 0
ENG - ENGINEERING & PLANNING 177,358 37 61,749 0 439 49,516 65,617 0 0
ENG - ENGINEERING & DRAFTING 65,799 0 4 (5) 0 (1,925) 67,725 0 0
OPERATIONS - ADMINISTRATIVE 53,651 0 180 0 1,090 (341) 52,722 0 0
OPERATIONS - METER 56,574 0 2,034 400 0 29,180 24,959 0 0
OPERATIONS - LINE 721,850 20 293,416 29,825 443 355,710 42,435 0 0
ENERGY DISTRIBUTION SUPPORT
DISTRIBUTION OPERATIONS
DISTRIBUTION OPERATIONS 5,000 0 0 0 0 4,695 306 0 0
RIGHT OF WAY MAINTENANCE 1,006 0 0 0 0 0 1,006 0 0
DISTRIBUTION ENGINEERING
ENGINEERING & PLANNING 0 0 0 0 0 0 0 0 0
DISTRIBUTION DATA SYSTEMS
DATABASE APPLICATIONS 0 0 0 0 0 0 0 0 0
JOINT USE 29,961 0 0 1,448 0 26,767 1,746 0 0
CUSTOMER SERVICES
CUSTOMER CALL CENTERS 25,779 0 0 0 0 25,779 0 0 0
ENERGY TRANSMISSION
TRANSMISSION REGIONS
TRANSMISSION LINE 533,902 (39,000) 165,820 42,254 388 346,908 17,532 0 0
PROTECTION & CONTROL 89,471 0 14,627 9,649 1,304 42,584 21,306 0 0
STATION 396,862 8,283 20,953 8,178 (2,025) 262,798 98,675 0 0
TRANSMISSION SYSTEM ENGINEERING
LINE ENGINEERING 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/RIGHT OF WAY 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/SURVEY 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL ENG. 0 0 0 0 0 0 0 0 0
STATION ENGINEERING 0 0 0 0 0 0 0 0 0
STATION CONSTRUCTION, O&M ADMIN
SYSTEM MAINT., TOOLS & EQUIP. 14,673 0 4,390 22 325 9,536 399 0 0
OPERATIONS CENTER 889,565 0 8,174 0 9,622 786,740 85,029 0 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OHIO POWER COMPANY PAGE 12
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
ENERGY DELIVERY SUPPORT
MEASUREMENTS & CUSTOMER SUPPORT
MEASUREMENTS ENG. & SUPPORT 126 0 0 0 0 126 0 0 0
METER OPERATIONS 233,150 0 4,276 9,142 2,461 199,730 17,540 0 0
TELECOMMUNICATIONS
TELECOMMUNICATIONS ENGINEERING 0 0 0 0 0 0 0 0 0
TELECOMMUNICATIONS OPERATIONS 36,513 0 16,029 252 0 3,371 16,861 0 0
OPERATIONS IMPROVEMENT
LAND MANAGEMENT-FORESTRY 2,472 0 105 55 176 2,125 10 0 0
LAND MANAGEMENT-REAL ESTATE 2,478 0 0 0 184 2,189 106 0 0
OPERATIONS ANALYSIS 0 0 0 0 0 0 0 0 0
ADMINISTRATIVE SUPPORT
ADMINISTRATIVE
STATE PRES/ENVIR & GOV'T AFF 1,508 0 0 0 0 1,508 0 0 0
CORPORATE COMMUNICATIONS 18,500 0 0 0 0 17,303 1,197 0 0
RATES 0 0 0 0 0 0 0 0 0
OTHER ADMINISTRATIVE GROUPS 326,582 4,922 131,875 59,022 146,000 (25,716) 10,479 0 0
ACCOUNTING
ADMINISTRATIVE 72 0 32 0 0 0 40 0 0
ACCOUNTS PAYABLE 0 0 0 0 0 0 0 0 0
CASH MANAGEMENT 2 0 0 0 0 2 0 0 0
CENTRALIZED CASH 0 0 0 0 0 0 0 0 0
CUSTOMER ACCOUNTING 24 0 0 0 0 24 0 0 0
DATA PROCESSING 142 0 0 0 0 142 0 0 0
ELECTRIC PLANT 139 0 0 0 0 139 0 0 0
GENERAL RECORDS 0 0 0 0 0 0 0 0 0
REPORTS 514 0 0 0 0 514 0 0 0
PC & SOFTWARE SUPPORT 0 0 0 0 0 0 0 0 0
CORPORATE SERVICES
CORPORATE SERVICES-ADMIN 0 0 0 0 0 0 0 0 0
FLEET MANAGEMENT 186,756 242 11,467 2,231 12,684 102,318 45,230 0 12,583
BUILDING SERVICES 52,320 1,730 1,122 322 (2,448) 13,970 37,624 0 0
OFFICES SERVICES 712,816 1,187 12,348 11,390 7,415 677,104 3,372 0 0
LABOR FRINGES ON O&M LABOR 1,313,802 3,530 281,204 27,100 4,237 789,581 208,151 0 0
TOTAL O&M COSTS 6,742,449 23,588 1,345,547 207,782 183,417 4,074,830 894,702 0 12,583
CONSTRUCTION, RETIREMENT, OTHER WIP 4,705,116 538 927,691 214,414 87,297 2,973,829 501,347 0 0
MATERIAL & SUPPLY COSTS 3,127,670 4,029 498,761 345,217 223,631 1,916,515 139,517 0 0
FACILITY COSTS 523,968 0 17,148 11,436 0 84,264 27,792 0 383,328
INVESTMENT CARRYING CHARGES 1,076,952 0 117,972 74,376 12,816 519,324 48,180 0 304,284
COMPANY TOTAL 16,176,155 28,155 2,907,119 853,225 507,161 9,568,762 1,611,538 0 700,195
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY PAGE 13
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
O&M COSTS
MARKETING
CONSUMER MARKETING 197,637 0 0 0 0 0 8,800 188,837 0
KEY ACCOUNTS 233,663 0 408 0 881 0 0 232,374 0
ECONOMIC DEVELOPMENT 217,936 0 0 0 0 0 0 217,936 0
BUSINESS SERVICES 101,453 (8,031) 0 0 18,241 0 1,140 90,102 0
MARKETING SUPPORT SERVICES 0 0 0 0 0 0 0 0 0
DISTRIBUTION REGIONS
MANAGERIAL 52,397 0 13,434 0 2,176 0 0 36,787 0
CUSTOMER SERVICES 101,872 51 15,033 530 2,210 0 1,113 82,934 0
ENG - ENGINEERING & PLANNING 64,752 16 20,965 0 3,191 0 0 40,579 0
ENG - ENGINEERING & DRAFTING 18,196 0 2,202 0 0 0 0 15,994 0
OPERATIONS - ADMINISTRATIVE 57,584 0 8,027 0 0 0 0 49,557 0
OPERATIONS - METER 35,792 0 7,379 93 0 0 0 28,320 0
OPERATIONS - LINE 135,695 6,987 26,019 175 6,286 0 45 96,183 0
ENERGY DISTRIBUTION SUPPORT
DISTRIBUTION OPERATIONS
DISTRIBUTION OPERATIONS 156,268 0 691 0 1,702 0 6,257 147,618 0
RIGHT OF WAY MAINTENANCE 267 0 0 50 0 0 14 204 0
DISTRIBUTION ENGINEERING
ENGINEERING & PLANNING 81,201 0 411 751 353 0 3,690 75,995 0
DISTRIBUTION DATA SYSTEMS
DATABASE APPLICATIONS 23,390 0 0 0 10,124 0 698 12,568 0
JOINT USE 0 0 0 0 0 0 0 0 0
CUSTOMER SERVICES
CUSTOMER CALL CENTERS 3,147,330 1,572 0 132 0 0 0 3,145,627 0
ENERGY TRANSMISSION
TRANSMISSION REGIONS
TRANSMISSION LINE 13,603 0 1,650 1,145 0 0 505 10,304 0
PROTECTION & CONTROL 69,106 0 7,829 3,472 0 0 1,962 55,843 0
STATION 793,956 3,105 101,024 31,631 1,495 0 23,104 633,538 59
TRANSMISSION SYSTEM ENGINEERING
LINE ENGINEERING 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/RIGHT OF WAY 0 0 0 0 0 0 0 0 0
LINE ENGINEERING/SURVEY 0 0 0 0 0 0 0 0 0
PROTECTION & CONTROL ENG. 0 0 0 0 0 0 0 0 0
STATION ENGINEERING 0 0 0 0 0 0 0 0 0
STATION CONSTRUCTION, O&M ADMIN
SYSTEM MAINT., TOOLS & EQUIP. 126,502 916 1,557 0 7,871 0 2,202 113,957 0
OPERATIONS CENTER 117,823 0 0 0 0 0 5,167 112,656 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLUMBUS SOUTHERN POWER COMPANY PAGE 14
1997 INTERCOMPANY BILLING COSTS INCURRED
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ORGANIZATION PROVIDING SERVICE
ENERGY DELIVERY SUPPORT
MEASUREMENTS & CUSTOMER SUPPORT
MEASUREMENTS ENG. & SUPPORT 0 0 0 0 0 0 0 0 0
METER OPERATIONS 27 0 0 0 0 0 1 25 0
TELECOMMUNICATIONS
TELECOMMUNICATIONS ENGINEERING 0 0 0 0 0 0 0 0 0
TELECOMMUNICATIONS OPERATIONS 213,552 1,081 19,325 6,737 34,047 0 412 151,950 0
OPERATIONS IMPROVEMENT
LAND MANAGEMENT-FORESTRY 81,028 0 0 0 666 0 44 80,317 0
LAND MANAGEMENT-REAL ESTATE 124,802 0 78 0 19,032 0 542 105,149 0
OPERATIONS ANALYSIS 0 0 0 0 0 0 0 0 0
ADMINISTRATIVE SUPPORT
ADMINISTRATIVE 0 0 0 0 0 0 0 0 0
STATE PRES/ENVIR & GOV'T AFF 362,043 0 0 0 0 0 0 362,043 0
CORPORATE COMMUNICATIONS 205,790 0 0 0 0 0 0 205,790 0
RATES 243,982 0 0 0 0 0 0 243,982 0
OTHER ADMINISTRATIVE GROUPS 228,193 (3,026) 379 257 24 0 3,846 218,059 8,654
ACCOUNTING
ADMINISTRATIVE 0 0 0 0 0 0 0 0 0
ACCOUNTS PAYABLE 0 0 0 0 0 0 0 0 0
CASH MANAGEMENT 0 0 0 0 0 0 0 0 0
CENTRALIZED CASH 0 0 0 0 0 0 0 0 0
CUSTOMER ACCOUNTING 0 0 0 0 0 0 0 0 0
DATA PROCESSING 0 0 0 0 0 0 0 0 0
ELECTRIC PLANT 0 0 0 0 0 0 0 0 0
GENERAL RECORDS 0 0 0 0 0 0 0 0 0
REPORTS 0 0 0 0 0 0 0 0 0
PC & SOFTWARE SUPPORT 0 0 0 0 0 0 0 0 0
CORPORATE SERVICES
CORPORATE SERVICES-ADMIN 137,156 0 2,150 0 0 0 7,497 127,509 0
FLEET MANAGEMENT 269,194 383 2,823 3,075 582 0 3,759 83,832 174,740
BUILDING SERVICES 456,105 102 18,576 25 0 0 24,442 412,916 45
OFFICES SERVICES 55,077 0 534 0 1,111 0 1,623 51,809 0
LABOR FRINGES ON O&M LABOR 1,886,304 (2,631) 62,066 9,117 23,582 0 22,170 1,772,000 0
TOTAL O&M COSTS 10,009,677 526 312,563 57,190 133,574 0 119,033 9,203,293 183,499
CONSTRUCTION, RETIREMENT, OTHER WIP 1,475,329 329 61,653 38,606 83,336 0 75,649 1,215,756 0
MATERIAL & SUPPLY COSTS 288,717 2,376 30,149 4,257 57,930 0 547 193,458 0
FACILITY COSTS 2,184,360 0 24,792 2,964 28,248 0 34,368 1,224,276 869,712
INVESTMENT CARRYING CHARGES 980,940 0 3,540 1,656 15,804 0 13,392 443,976 502,572
COMPANY TOTAL 14,939,023 3,231 432,697 104,673 318,892 0 242,989 12,280,759 1,555,783
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
1997 INTERCOMPANY BILLING COSTS INCURRED SUMMARY BY COMPANY PAGE 15
COMPANY BENEFITING FROM WORK --> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
COMPANY PROVIDING SERVICE
KINGSPORT POWER 441,395 0 431,157 1,207 154 731 0 0 8,146
APPALACHIAN POWER 5,804,281 1,352,183 0 2,829,429 234,069 133,358 108,075 737,344 409,822
KENTUCKY POWER 4,001,577 7,855 2,810,222 0 (20,111) 81,908 322,956 552,560 246,187
INDIANA MICHIGAN POWER 2,902,265 4,633 257,526 25,156 0 90,862 6,835 967,830 1,549,423
WHEELING POWER 307,188 421 1,346 0 690 17,250 0 287,370 111
OHIO POWER 16,176,155 28,155 2,907,119 853,225 507,161 9,568,762 1,611,538 0 700,195
COLUMBUS SOUTHERN POWER 14,939,023 3,231 432,697 104,673 318,892 0 242,989 12,280,759 1,555,783
TOTAL 44,571,885 1,396,478 6,840,067 3,813,690 1,040,855 9,892,872 2,292,393 14,825,863 4,469,667
<CAPTION>
1997 INTERCOMPANY BILLING COSTS INCURRED SUMMARY BY EXPENDITURE CATEGORY
COMPANY BENEFITING FROM WORK--> TOTAL KGPCo APCo KEPCo I&M CSPCo WPCo OPCo AEP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
EXPENDITURE CATEGORY
O&M 22,002,944 969,988 3,427,318 1,286,722 368,412 4,228,513 1,433,880 10,070,150 217,961
CONSTRUCTION, RETIREMENT,
OTHER WIP 9,497,323 305,444 2,219,749 1,286,703 216,044 3,040,192 580,033 1,849,158 0
MATERIAL & SUPPLIES 5,688,041 121,046 923,696 1,139,595 307,171 2,018,883 154,748 1,022,902 0
FACILITY COSTS 4,906,642 0 91,296 19,621 88,730 84,858 62,160 1,306,686 3,253,291
INVESTMENT CARRYING CHARGES 2,476,935 0 178,008 81,049 60,498 520,426 61,572 576,967 998,415
TOTAL 44,571,885 1,396,478 6,840,067 3,813,690 1,040,855 9,892,872 2,292,393 14,825,863 4,469,667
</TABLE>
<PAGE>
EXHIBIT G
SEE EXHIBIT 27 FOR FINANCIAL DATA SCHEDULES.
EXHIBIT H
Organization chart showing the relationship of each EWG or foreign
utility company in which the system holds an interest to other system
companies.
Each direct or indirect subsidiary of American Electric Power Company,
Inc. listed below is owned by the company immediately above it not
indented to the same degree. The percentage ownership is 100% except
where noted.
American Electric Power Company, Inc.
AEP Resources, Inc.
AEP Resources International, Ltd.
AEP Pushan Power, LDC (a)
Nanyang General Light Electric Co., Ltd. (FUCO) (b)
AEP Resources Project Management Company. Ltd.
AEP Pushan Power, LDC (a)
Nanyang General Light Electric Co., Ltd. (FUCO) (b)
Yorkshire Power Group Limited (c)
Yorkshire Holdings plc
Yorkshire Electricity Group plc (FUCO)
(a) Owned 99% by AEP Resources International, Ltd. and 1% by AEP
Resources Project Management Company, Ltd.
(b) AEP Pushan Power, LDC owns 70% and the remaining 30% is owned by
two unaffiliated companies.
(c) Owned 50% by AEP Resources, Inc. and 50% by an unaffiliated
company.
As of December 31, 1997 the direct or indirect investment as defined
in Rule 53 by AEP Co., Inc. in EWG's and FUCO's was $404,744,000.
<PAGE>
EXHIBIT I
Nanyang General Light Electric Co., Ltd. (NGLE), was organized as a joint
venture company in September 1996. To date, audited financial statements
are not available, therefore unaudited statements are included in this
filing.
The unaudited financial statements for NGLE are filed confidentially
pursuant to Rule 104(b) of the PUHCA.
Yorkshire Power Group Limited's financial statements are filed under
Item 10.
<PAGE>
SIGNATURE
The undersigned system company has duly caused this annual
report to be signed on its behalf by the undersigned, thereunto duly
authorized, pursuant to the requirements of the Public Utility Holding
Company Act of 1935.
AMERICAN ELECTRIC POWER COMPANY, INC.
By /s/ G. P. Maloney
G. P. Maloney
Vice President
April 29, 1998
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000004904
<NAME> AMERICAN ELECTRIC POWER COMPANY, INC.
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 11,632,849
<OTHER-PROPERTY-AND-INVEST> 1,358,810
<TOTAL-CURRENT-ASSETS> 1,518,136
<TOTAL-DEFERRED-CHARGES> 288,011
<OTHER-ASSETS> 1,817,540
<TOTAL-ASSETS> 16,615,346
<COMMON> 1,293,435
<CAPITAL-SURPLUS-PAID-IN> 1,778,782
<RETAINED-EARNINGS> 1,605,017
<TOTAL-COMMON-STOCKHOLDERS-EQ> 4,677,234
127,605
46,724
<LONG-TERM-DEBT-NET> 5,129,463
<SHORT-TERM-NOTES> 199,285
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 355,790
<LONG-TERM-DEBT-CURRENT-PORT> 294,454
0
<CAPITAL-LEASE-OBLIGATIONS> 437,303
<LEASES-CURRENT> 101,089
<OTHER-ITEMS-CAPITAL-AND-LIAB> 5,246,399
<TOT-CAPITALIZATION-AND-LIAB> 16,615,346
<GROSS-OPERATING-REVENUE> 6,161,368
<INCOME-TAX-EXPENSE> 362,560
<OTHER-OPERATING-EXPENSES> 4,814,354
<TOTAL-OPERATING-EXPENSES> 5,176,914
<OPERATING-INCOME-LOSS> 984,454
<OTHER-INCOME-NET> 59,572
<INCOME-BEFORE-INTEREST-EXPEN> 1,044,026
<TOTAL-INTEREST-EXPENSE> 405,815
<NET-INCOME> 510,961<F1>
17,831<F2>
<EARNINGS-AVAILABLE-FOR-COMM> 510,961
<COMMON-STOCK-DIVIDENDS> 453,453
<TOTAL-INTEREST-ON-BONDS> 236,250
<CASH-FLOW-OPERATIONS> 1,197,922
<EPS-PRIMARY> $2.70<F3>
<EPS-DILUTED> $2.70<F3>
<FN>
<F1> Net income includes an extraordinary loss of $(109,419,000)
for United Kingdom windfall tax.
<F2> Represents preferred stock dividend requirements of
subsidiaries; deducted before computation of net income.
<F3> EPS includes an extraordinary loss of $(0.58)for United
Kingdom windfall tax.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000857571
<NAME> AEP GENERATING COMPANY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 376,259
<OTHER-PROPERTY-AND-INVEST> 6
<TOTAL-CURRENT-ASSETS> 35,668
<TOTAL-DEFERRED-CHARGES> 1,486
<OTHER-ASSETS> 5,639
<TOTAL-ASSETS> 419,058
<COMMON> 1,000
<CAPITAL-SURPLUS-PAID-IN> 39,235
<RETAINED-EARNINGS> 2,528
<TOTAL-COMMON-STOCKHOLDERS-EQ> 42,763
0
0
<LONG-TERM-DEBT-NET> 69,570
<SHORT-TERM-NOTES> 11,750
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 1,259
<LEASES-CURRENT> 560
<OTHER-ITEMS-CAPITAL-AND-LIAB> 293,156
<TOT-CAPITALIZATION-AND-LIAB> 419,058
<GROSS-OPERATING-REVENUE> 227,868
<INCOME-TAX-EXPENSE> 3,068
<OTHER-OPERATING-EXPENSES> 215,760
<TOTAL-OPERATING-EXPENSES> 218,828
<OPERATING-INCOME-LOSS> 9,040
<OTHER-INCOME-NET> 3,603
<INCOME-BEFORE-INTEREST-EXPEN> 12,643
<TOTAL-INTEREST-EXPENSE> 3,857
<NET-INCOME> 8,786
0
<EARNINGS-AVAILABLE-FOR-COMM> 8,786
<COMMON-STOCK-DIVIDENDS> 8,144
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 34,984
<EPS-PRIMARY> 0<F1>
<EPS-DILUTED> 0<F1>
<FN>
<F1> All common stock owned by parent company; no EPS required.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000006879
<NAME> APPALACHIAN POWER COMPANY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 3,031,989
<OTHER-PROPERTY-AND-INVEST> 35,467
<TOTAL-CURRENT-ASSETS> 332,776
<TOTAL-DEFERRED-CHARGES> 41,975
<OTHER-ASSETS> 441,223
<TOTAL-ASSETS> 3,883,430
<COMMON> 260,458
<CAPITAL-SURPLUS-PAID-IN> 613,048
<RETAINED-EARNINGS> 207,544
<TOTAL-COMMON-STOCKHOLDERS-EQ> 1,081,050
22,310
19,747
<LONG-TERM-DEBT-NET> 1,415,026
<SHORT-TERM-NOTES> 33,700
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 96,600
<LONG-TERM-DEBT-CURRENT-PORT> 79,509
0
<CAPITAL-LEASE-OBLIGATIONS> 48,552
<LEASES-CURRENT> 11,558
<OTHER-ITEMS-CAPITAL-AND-LIAB> 1,075,378
<TOT-CAPITALIZATION-AND-LIAB> 3,883,430
<GROSS-OPERATING-REVENUE> 1,720,010
<INCOME-TAX-EXPENSE> 67,421
<OTHER-OPERATING-EXPENSES> 1,412,595
<TOTAL-OPERATING-EXPENSES> 1,480,016
<OPERATING-INCOME-LOSS> 239,994
<OTHER-INCOME-NET> (222)
<INCOME-BEFORE-INTEREST-EXPEN> 239,772
<TOTAL-INTEREST-EXPENSE> 119,258
<NET-INCOME> 120,514
7,006
<EARNINGS-AVAILABLE-FOR-COMM> 113,508
<COMMON-STOCK-DIVIDENDS> 114,436
<TOTAL-INTEREST-ON-BONDS> 81,009
<CASH-FLOW-OPERATIONS> 280,513
<EPS-PRIMARY> 0<F1>
<EPS-DILUTED> 0<F1>
<FN>
<F1> All common stock owned by parent company; no EPS required.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000022198
<NAME> COLUMBUS SOUTHERN POWER COMPANY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 1,901,522
<OTHER-PROPERTY-AND-INVEST> 33,653
<TOTAL-CURRENT-ASSETS> 252,516
<TOTAL-DEFERRED-CHARGES> 66,688
<OTHER-ASSETS> 359,481
<TOTAL-ASSETS> 2,613,860
<COMMON> 41,026
<CAPITAL-SURPLUS-PAID-IN> 572,112
<RETAINED-EARNINGS> 138,172
<TOTAL-COMMON-STOCKHOLDERS-EQ> 751,310
25,000
0
<LONG-TERM-DEBT-NET> 887,850
<SHORT-TERM-NOTES> 4,300
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 62,300
<LONG-TERM-DEBT-CURRENT-PORT> 81,750
0
<CAPITAL-LEASE-OBLIGATIONS> 32,649
<LEASES-CURRENT> 5,938
<OTHER-ITEMS-CAPITAL-AND-LIAB> 762,763
<TOT-CAPITALIZATION-AND-LIAB> 2,613,860
<GROSS-OPERATING-REVENUE> 1,139,604
<INCOME-TAX-EXPENSE> 71,726
<OTHER-OPERATING-EXPENSES> 872,751
<TOTAL-OPERATING-EXPENSES> 944,477
<OPERATING-INCOME-LOSS> 195,127
<OTHER-INCOME-NET> 3,137
<INCOME-BEFORE-INTEREST-EXPEN> 198,264
<TOTAL-INTEREST-EXPENSE> 78,885
<NET-INCOME> 119,379
2,442
<EARNINGS-AVAILABLE-FOR-COMM> 116,937
<COMMON-STOCK-DIVIDENDS> 78,684
<TOTAL-INTEREST-ON-BONDS> 55,156
<CASH-FLOW-OPERATIONS> 158,740
<EPS-PRIMARY> 0<F1>
<EPS-DILUTED> 0<F1>
<FN>
<F1> All common stock owned by parent company; no EPS required.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000050172
<NAME> INDIANA MICHIGAN POWER COMPANY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 2,540,560
<OTHER-PROPERTY-AND-INVEST> 722,618
<TOTAL-CURRENT-ASSETS> 273,071
<TOTAL-DEFERRED-CHARGES> 31,060
<OTHER-ASSETS> 400,489
<TOTAL-ASSETS> 3,967,798
<COMMON> 56,584
<CAPITAL-SURPLUS-PAID-IN> 732,472
<RETAINED-EARNINGS> 278,814
<TOTAL-COMMON-STOCKHOLDERS-EQ> 1,067,870
68,445
9,435
<LONG-TERM-DEBT-NET> 1,014,237
<SHORT-TERM-NOTES> 56,410
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 63,190
<LONG-TERM-DEBT-CURRENT-PORT> 35,000
0
<CAPITAL-LEASE-OBLIGATIONS> 161,194
<LEASES-CURRENT> 34,033
<OTHER-ITEMS-CAPITAL-AND-LIAB> 1,457,983
<TOT-CAPITALIZATION-AND-LIAB> 3,967,798
<GROSS-OPERATING-REVENUE> 1,391,917
<INCOME-TAX-EXPENSE> 78,263
<OTHER-OPERATING-EXPENSES> 1,105,866
<TOTAL-OPERATING-EXPENSES> 1,184,129
<OPERATING-INCOME-LOSS> 207,788
<OTHER-INCOME-NET> 4,415
<INCOME-BEFORE-INTEREST-EXPEN> 212,203
<TOTAL-INTEREST-EXPENSE> 65,463
<NET-INCOME> 146,740
5,736
<EARNINGS-AVAILABLE-FOR-COMM> 141,004
<COMMON-STOCK-DIVIDENDS> 131,260
<TOTAL-INTEREST-ON-BONDS> 39,678
<CASH-FLOW-OPERATIONS> 260,211
<EPS-PRIMARY> 0<F1>
<EPS-DILUTED> 0<F1>
<FN>
<F1> All common stock owned by parent company; no EPS required.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000055373
<NAME> KENTUCKY POWER COMPANY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 710,637
<OTHER-PROPERTY-AND-INVEST> 6,591
<TOTAL-CURRENT-ASSETS> 69,239
<TOTAL-DEFERRED-CHARGES> 10,159
<OTHER-ASSETS> 90,045
<TOTAL-ASSETS> 886,671
<COMMON> 50,450
<CAPITAL-SURPLUS-PAID-IN> 128,750
<RETAINED-EARNINGS> 78,076
<TOTAL-COMMON-STOCKHOLDERS-EQ> 257,276
0
0
<LONG-TERM-DEBT-NET> 341,051
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 36,500
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 15,006
<LEASES-CURRENT> 3,719
<OTHER-ITEMS-CAPITAL-AND-LIAB> 233,119
<TOT-CAPITALIZATION-AND-LIAB> 886,671
<GROSS-OPERATING-REVENUE> 359,543
<INCOME-TAX-EXPENSE> 12,140
<OTHER-OPERATING-EXPENSES> 300,547
<TOTAL-OPERATING-EXPENSES> 312,687
<OPERATING-INCOME-LOSS> 46,856
<OTHER-INCOME-NET> (464)
<INCOME-BEFORE-INTEREST-EXPEN> 46,392
<TOTAL-INTEREST-EXPENSE> 25,646
<NET-INCOME> 20,746
0
<EARNINGS-AVAILABLE-FOR-COMM> 20,746
<COMMON-STOCK-DIVIDENDS> 26,760
<TOTAL-INTEREST-ON-BONDS> 14,867
<CASH-FLOW-OPERATIONS> 41,265
<EPS-PRIMARY> 0<F1>
<EPS-DILUTED> 0<F1>
<FN>
<F1> All common stock owned by parent company; no EPS required.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000055986
<NAME> KINGSPORT POWER COMPANY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 56,567
<OTHER-PROPERTY-AND-INVEST> 288
<TOTAL-CURRENT-ASSETS> 23,433
<TOTAL-DEFERRED-CHARGES> 3
<OTHER-ASSETS> 5,598
<TOTAL-ASSETS> 85,889
<COMMON> 4,100
<CAPITAL-SURPLUS-PAID-IN> 10,800
<RETAINED-EARNINGS> 7,367
<TOTAL-COMMON-STOCKHOLDERS-EQ> 22,267
0
0
<LONG-TERM-DEBT-NET> 25,000
<SHORT-TERM-NOTES> 5,600
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 1,248
<LEASES-CURRENT> 265
<OTHER-ITEMS-CAPITAL-AND-LIAB> 31,509
<TOT-CAPITALIZATION-AND-LIAB> 85,889
<GROSS-OPERATING-REVENUE> 79,922
<INCOME-TAX-EXPENSE> 825
<OTHER-OPERATING-EXPENSES> 74,965
<TOTAL-OPERATING-EXPENSES> 75,790
<OPERATING-INCOME-LOSS> 4,132
<OTHER-INCOME-NET> 594
<INCOME-BEFORE-INTEREST-EXPEN> 4,726
<TOTAL-INTEREST-EXPENSE> 2,711
<NET-INCOME> 2,015
0
<EARNINGS-AVAILABLE-FOR-COMM> 2,015
<COMMON-STOCK-DIVIDENDS> 2,255
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 4,897
<EPS-PRIMARY> 0 <F1>
<EPS-DILUTED> 0 <F1>
<FN>
<F1> All common stock owned by parent company; no EPS required.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000073986
<NAME> OHIO POWER COMPANY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 2,805,802
<OTHER-PROPERTY-AND-INVEST> 113,925
<TOTAL-CURRENT-ASSETS> 612,468
<TOTAL-DEFERRED-CHARGES> 107,116
<OTHER-ASSETS> 523,891
<TOTAL-ASSETS> 4,163,202
<COMMON> 321,201
<CAPITAL-SURPLUS-PAID-IN> 462,296
<RETAINED-EARNINGS> 590,151
<TOTAL-COMMON-STOCKHOLDERS-EQ> 1,373,648
11,850
17,542
<LONG-TERM-DEBT-NET> 1,012,031
<SHORT-TERM-NOTES> 10,700
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 68,000
<LONG-TERM-DEBT-CURRENT-PORT> 83,195
0
<CAPITAL-LEASE-OBLIGATIONS> 127,180
<LEASES-CURRENT> 30,307
<OTHER-ITEMS-CAPITAL-AND-LIAB> 1,428,749
<TOT-CAPITALIZATION-AND-LIAB> 4,163,202
<GROSS-OPERATING-REVENUE> 1,965,818
<INCOME-TAX-EXPENSE> 128,878
<OTHER-OPERATING-EXPENSES> 1,560,547
<TOTAL-OPERATING-EXPENSES> 1,689,425
<OPERATING-INCOME-LOSS> 276,393
<OTHER-INCOME-NET> 14,822
<INCOME-BEFORE-INTEREST-EXPEN> 291,215
<TOTAL-INTEREST-EXPENSE> 82,526
<NET-INCOME> 208,689
2,647
<EARNINGS-AVAILABLE-FOR-COMM> 206,042
<COMMON-STOCK-DIVIDENDS> 199,333
<TOTAL-INTEREST-ON-BONDS> 45,540
<CASH-FLOW-OPERATIONS> 442,018
<EPS-PRIMARY> 0<F1>
<EPS-DILUTED> 0<F1>
<FN>
<F1> All common stock owned by parent company; no EPS required.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000106617
<NAME> WHEELING POWER COMPANY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 57,930
<OTHER-PROPERTY-AND-INVEST> 2,951
<TOTAL-CURRENT-ASSETS> 11,172
<TOTAL-DEFERRED-CHARGES> 1,568
<OTHER-ASSETS> 13,955
<TOTAL-ASSETS> 87,376
<COMMON> 2,428
<CAPITAL-SURPLUS-PAID-IN> 13,596
<RETAINED-EARNINGS> 5,924
<TOTAL-COMMON-STOCKHOLDERS-EQ> 21,948
0
0
<LONG-TERM-DEBT-NET> 26,000
<SHORT-TERM-NOTES> 5,975
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 3,851
<LEASES-CURRENT> 597
<OTHER-ITEMS-CAPITAL-AND-LIAB> 29,005
<TOT-CAPITALIZATION-AND-LIAB> 87,376
<GROSS-OPERATING-REVENUE> 85,297
<INCOME-TAX-EXPENSE> 1,828
<OTHER-OPERATING-EXPENSES> 79,041
<TOTAL-OPERATING-EXPENSES> 80,869
<OPERATING-INCOME-LOSS> 4,428
<OTHER-INCOME-NET> (255)
<INCOME-BEFORE-INTEREST-EXPEN> 4,173
<TOTAL-INTEREST-EXPENSE> 1,982
<NET-INCOME> 2,191
0
<EARNINGS-AVAILABLE-FOR-COMM> 2,191
<COMMON-STOCK-DIVIDENDS> 2,315
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 5,855
<EPS-PRIMARY> 0 <F1>
<EPS-DILUTED> 0 <F1>
<FN>
<F1> All common stock owned by parent company; no EPS required.
</FN>
</TABLE>
