February 26, 1997
Securities and Exchange Commission
6432 General Green Way
Alexandria, VA 23212-2413
Gentlemen:
We are transmitting herewith Indiana Gas Company, Inc.'s
Statement on Form U-3A-2.
Sincerely,
/s/Douglas S. Schmidt
Douglas S. Schmidt
DSS:rs
File No. 069-00184
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
Statement by Holding Company Claiming Exemption
Under Rule U-3A-2 from the Provisions of the Public
Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
INDIANA GAS COMPANY, INC.
hereby files with the Securities and Exchange
Commission (Commission), pursuant to Rule 2, its
statement claiming exemption as a holding company from
the provisions of the Public Utility Holding Company
Act of 1935, and submits the following information:
1. Name, State of organization, location and
nature of business of claimant and every subsidiary thereof.
Indiana Gas Company, Inc. (Indiana Gas),
Claimant in this statement, is an Indiana
corporation with its principal offices in
Indianapolis, Indiana. Claimant is a "holding
company" (as such term is defined by the Act),
owning all of the issued and outstanding shares of
common stock of Terre Haute Gas Corporation, an
Indiana corporation (Terre Haute) and Richmond Gas
Corporation, an Indiana corporation (Richmond).
Indiana Gas is also directly engaged in the
business of supplying gas service at retail,
including transportation, to ultimate consumers,
all within the state of Indiana. Indiana Gas is a
"gas utility company" and a "public utility
company" (as such terms are defined by the Act).
Each of Terre Haute and Richmond is a "subsidiary
company" of Indiana Gas and is also a "gas utility
company" and a "public utility company" (as such
terms are defined by the Act). While Terre Haute
and Richmond technically exist as separate
corporate entities, in accordance with an order
issued by the Indiana Utility Regulatory
Commission, Indiana Gas, Terre Haute and Richmond
have combined their operations for all purposes and
are transacting business under the name Indiana Gas
Company, Inc. Pursuant to that order, Indiana Gas,
Terre Haute and Richmond maintain accounting
records and financial reports on a consolidated
basis. For purposes of this statement, any
reference to Indiana Gas will, in effect, be
inclusive of the separate corporate entities of
Richmond and Terre Haute.
On March 15, 1996, IGC Energy, Inc., an
indirect wholly owned subsidiary of Indiana Energy
(Indiana Gas' parent), and Citizens By-Products
Coal Company, a wholly owned subsidiary of Citizens
Gas and Coke Utility (Citizens Gas), formed a
jointly and equally owned Indiana limited liability
company to provide natural gas supply and related
services. The new entity, ProLiance Energy, LLC
(ProLiance), began providing services to Indiana
Gas and Citizens Gas effective April 1, 1996.
ProLiance also provides products and services to
other gas utilities and customers in Indiana and
surrounding states. ProLiance assumed the business
of Indiana Energy Services, Inc., Indiana Energy's
gas marketing affiliate, which had provided similar
services to other customers and from January 1,
1996, to March 31, 1996, to Indiana Gas.
2. A brief description of the properties of
claimant and each of its subsidiary public utility
companies used for the production, transmission and
distribution of natural or manufactured gas, indicating
the location of principal transmission lines, producing
fields, gas manufacturing plants and gas distribution
facilities, including all such properties which are
outside the State in which claimant and its
subsidiaries are organized and all transmission or
pipelines which deliver or receive gas at the borders
of such State.
The properties of Indiana Gas used for the
production, storage and distribution of gas are
located solely within the state of Indiana except
for pipeline facilities extending from points in
northern Kentucky to points in southern Indiana by
means of which gas is transported to Indiana for
sale or transportation by Indiana Gas to ultimate
customers in Indiana. At December 31, 1996, these
included approximately 10,300 miles of distribution
mains; 484,643 meters, seven reservoirs for
underground storage of purchased gas with
approximately 103,415 acres of land owned and/or
held under storage easements with 10,836,824 Dth of
gas in storage providing a daily deliverability
capacity of 144,860 Dth. Indiana Gas has five
liquefied petroleum air gas manufacturing plants
with a total daily capacity of 36,700 Dth of gas.
These properties are used by Indiana Gas in its gas
operations in which gas is supplied to
approximately 468,000 consumers in 281 communities
in 48 of the 92 counties in the state of Indiana.
The largest communities served are Muncie,
Anderson, Lafayette-West Lafayette, Bloomington,
Terre Haute, Marion, New Albany, Columbus,
Jeffersonville, New Castle and Richmond.
Effective April 1, 1996, Indiana Gas purchases
all of its natural gas from ProLiance Energy, LLC.
Gas is transported to Indiana Gas' system by
interstate pipeline suppliers under Federal Energy
Regulatory Commission approved rate schedules.
3. The following information for the last
calendar year with respect to claimant and each of its
subsidiary public utility companies:
(a) Number of Dth of gas distributed at retail:
<TABLE>
Company Calendar Year DTH
<S> <C> <C>
Indiana Gas 1996 88,951,000 Sales
36,048,000 Transportation
124,999,000 Total Throughput
</TABLE>
(b) Number of Dth of gas distributed at retail
outside the State in which each such company is
organized:
None
(c) Number of Dth of gas sold at wholesale
outside the State in which each such company is
organized, or at the State line:
None
(d) Number of Dth of gas purchased outside the
State in which each such company is organized
or at the State line:
None.
4. The following information for the reporting
period with respect to claimant and each interest it
holds directly or indirectly in a EWG or a foreign
utility company.
Inapplicable to claimant.
Exhibit A
A consolidated statement of income and a
consolidated statement of retained earnings of Indiana
Gas, for the calendar year 1996, together with a
consolidated balance sheet of Indiana Gas, as of the
close of such calendar year, are annexed hereto as
Exhibit A.
Exhibit B
See the Financial Data Schedule filed herewith as
Exhibit 27.
Exhibit C
Inapplicable to claimant.
The above named Claimant has caused this statement
to be duly executed on its behalf by its authorized
officer on this 26th day of February 1997.
INDIANA GAS COMPANY, INC.
(Name of Claimant)
By /s/Niel C. Ellerbrook
Niel C. Ellerbrook
Executive Vice President and
Chief Financial Officer
Attest:
/s/Ronald E. Christian
Ronald E. Christian
Secretary and General Counsel
Name, title and address of officer to whom notices
and correspondence concerning this statement should be
addressed:
Niel C. Ellerbrook
Executive Vice President and
Chief Financial Officer
Indiana Gas Company, Inc.
1630 North Meridian Street
Indianapolis, Indiana 46202
<TABLE>
INDIANA GAS COMPANY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(Thousands - Unaudited)
December 31, 1996
<S> <C>
ASSETS
UTILITY PLANT:
Original cost $ 946,934
Less - Accumulated depreciation and amortization 351,496
595,438
NONUTILITY PLANT - NET 31
CURRENT ASSETS:
Cash and cash equivalents 185
Accounts receivable, less reserves 45,070
Accrued unbilled revenues 37,247
Materials and supplies - at average cost 4,075
Liquefied petroleum gas - at average cost 864
Gas in underground storage - at
last-in, first-out cost 34,336
Recoverable gas costs 16,949
Prepayments and other 1,017
139,743
DEFERRED CHARGES:
Unamortized debt discount and expense 7,324
Other 8,392
15,716
$ 750,928
</TABLE>
<TABLE>
INDIANA GAS COMPANY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(Thousands - Unaudited)
December 31, 1996
<S> <C>
SHAREHOLDER'S EQUITY AND LIABILITIES
CAPITALIZATION:
Common stock and paid-in capital $ 142,995
Retained earnings 148,458
Total common shareholder's equity 291,453
Long-term debt 139,733
431,186
CURRENT LIABILITIES:
Maturities and sinking fund
requirements of long-term debt 35,000
Notes payable 63,000
Accounts payable 67,018
Customer deposits and advance payments 16,533
Accrued taxes 13,971
Accrued interest 4,497
Other current liabilities 21,210
221,229
DEFERRED CREDITS:
Deferred income taxes 67,421
Unamortized investment tax credit 10,941
Customer advances for construction 1,488
Regulatory income tax liability 2,835
Other 15,828
98,513
$ 750,928
</TABLE>
<TABLE>
INDIANA GAS COMPANY, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
(Thousands - Unaudited)
Twelve Months Ended
December 31, 1996
<S> <C>
OPERATING REVENUES $ 548,766
COST OF GAS 340,770
MARGIN 207,996
OPERATING EXPENSES:
Other operation 74,808
Maintenance 9,875
Depreciation and amortization 33,738
Income taxes 21,637
Taxes other than income taxes 16,779
156,837
OPERATING INCOME 51,159
INTEREST AND OTHER:
Interest expense 16,200
Allowance for borrowed funds
used during construction (356)
Other amortization 187
Other income - net (993)
15,038
NET INCOME $ 36,121
</TABLE>
<TABLE>
INDIANA GAS COMPANY, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
(Thousands - Unaudited)
Twelve Months Ended
December 31, 1996
<S> <C>
BALANCE DECEMBER 31, 1995 $ 137,837
ADD:
Net Income 36,121
173,958
DEDUCT:
Dividends On Common Stock 25,500
BALANCE DECEMBER 31, 1996 $ 148,458
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
This schedule contains summary financial information extracted from Indiana Gas
Company, Inc.'s consolidated financial statements as of December 31, 1996, and
for the twelve months then ended and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 750,928
<TOTAL-OPERATING-REVENUES> 548,766
<NET-INCOME> 36,121
</TABLE>
