AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 26864
FOR THE QUARTER ENDED MARCH 31, 1998
1) Aggregate Investment which there is recourse to AEP Co., Inc.
in Exempt Wholesale Generators (EWG)
and Foreign Utility Companies (FUCO)
FUCO (in thousands)
Yorkshire Electricity Group plc $ 362,975
Nanyang General Light Electric 62,204
Pacific Hydro Ltd. 9,967
Total Investment in FUCO's $ 435,146
EWG $ -
2) Aggregate Investment as a Percentage of the Following Items
(in thousands) %
Total Capitalization $10,849,083* 4.0%
Net Utility Plant 11,609,619 3.7%
Total Assets 16,798,403 2.6%
Market Value of Common Equity 9,566,330 4.5%
*Includes Long-term Debt Due Within One Year and Short-term Debt.
3) Consolidated Capitalization Ratio
(in thousands) %
Short-term Debt $ 640,150
Long-term Debt 5,301,841*
Total Debt 5,941,991 54.8%
Preferred Stock 174,171 1.6%
Common Stock 1,295,936
Paid-in Capital 1,795,378
Retained Earnings 1,641,607
Total Common Equity 4,732,921 43.6%
Total Capitalization $10,849,083 100.0%
* Includes Long-term Debt Due Within One Year.
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AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 26864
FOR THE QUARTER ENDED MARCH 31, 1998
4) Market-to-book Ratio of AEP Common Stock
Closing Market Price per Share $50.25
Book Value per Share $24.86
Market-to-book Ratio of Common Stock 202.1%
5) Analysis of Growth in Retained Earnings
(in thousands)
Beginning Retained Earnings-January 1, 1998 $ 1,605,017
Earnings Attributable to FUCO's/EWG's 3,444
Earnings Attributable to
Other Subsidiaries 147,142
Less Dividends (113,996)
Ending Retained Earnings - March 31, 1998 $ 1,641,607
6) Statement of Revenues and Net Income for each EWG and FUCO
Statement of revenues and net income for the following FUCO's are
filed under confidential treatment pursuant to Rule 104(b):
Yorkshire Electricity Group plc
Nanyang General Light Electric
Pacific Hydro Ltd.
