<PAGE>
Securities and Exchange Commission
Washington, D.C. 20549
FORM 10-Q/A
Amendment No. 1
(Mark One)
|X| Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
For the quarterly period ended September 30, 1994
or
|_| Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Commission File No. 1-3548
Minnesota Power & Light Company
A Minnesota Corporation
IRS Employer Identification No. 41-0418150
30 West Superior Street
Duluth, Minnesota 55802
Telephone - (218) 722-2641
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
---- ----
Common Stock, no par value,
31,240,178 shares outstanding
as of October 31, 1994
<PAGE>
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
27 Financial Data Schedule
Due to reclassifications made for the discontinuance of the paper and
pulp business as of June 30, 1995 and changes in the way in which Minnesota
Power & Light Company (Company) currently reports information regarding its
businesses, the Company's financial data schedule for the period ended September
30, 1994 has been restated as follows:
[RESTATED]
[GROSS-OPERATING-REVENUE] 420,156
[INCOME-TAX-EXPENSE] 11,500
[OTHER-OPERATING-EXPENSES] 342,964
[TOTAL-OPERATING-EXPENSES] 376,398
[OPERATING-INCOME-LOSS] 48,054
[OTHER-INCOME-NET] 5,279 <F1>
[INCOME-BEFORE-INTEREST-EXPEN] 70,971
[TOTAL-INTEREST-EXPENSE] 33,434
[TOTAL-INTEREST-ON-BONDS] 0
[EPS-DILUTED] 1.25
<F1> Includes Income from Equity Investments and Income from Discontinued
Operations.
-1-
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Minnesota Power & Light Company
---------------------------------
(Registrant)
December 20, 1996 D. G. Gartzke
---------------------------------
D. G. Gartzke
Senior Vice President - Finance
and Chief Financial Officer
December 20, 1996 Mark A. Schober
---------------------------------
Mark A. Schober
Corporate Controller
-2-
<TABLE> <S> <C>
<ARTICLE> UT
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MINNESOTA
POWER'S CONSOLIDATED BALANCE SHEET, STATEMENT OF INCOME, AND STATEMENT OF CASH
FLOW FOR THE PERIOD ENDED SEPTEMBER 30, 1994, AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> SEP-30-1994
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 1,078,495
<OTHER-PROPERTY-AND-INVEST> 378,803
<TOTAL-CURRENT-ASSETS> 235,092
<TOTAL-DEFERRED-CHARGES> 93,966
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 1,786,356
<COMMON> 292,951
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 263,594
<TOTAL-COMMON-STOCKHOLDERS-EQ> 552,317
0
48,547
<LONG-TERM-DEBT-NET> 622,818
<SHORT-TERM-NOTES> 44,455
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 9,031
0
<CAPITAL-LEASE-OBLIGATIONS> 0
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 504,960
<TOT-CAPITALIZATION-AND-LIAB> 1,786,356
<GROSS-OPERATING-REVENUE> 420,156
<INCOME-TAX-EXPENSE> 11,500
<OTHER-OPERATING-EXPENSES> 342,964
<TOTAL-OPERATING-EXPENSES> 376,398
<OPERATING-INCOME-LOSS> 48,054
<OTHER-INCOME-NET> 5,279<F1>
<INCOME-BEFORE-INTEREST-EXPEN> 70,971
<TOTAL-INTEREST-EXPENSE> 33,434
<NET-INCOME> 37,537
2,400
<EARNINGS-AVAILABLE-FOR-COMM> 35,137
<COMMON-STOCK-DIVIDENDS> 42,720
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 89,908
<EPS-PRIMARY> 1.25
<EPS-DILUTED> 1.25
<FN>
<F1>Includes Income from Equity Investments and Income from Discontinued
Operations.
</FN>
</TABLE>
