File No. 70-7674
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________
AMENDMENT NO. 6
(POST-EFFECTIVE)
FORM U-1
DECLARATION
under
THE PUBLIC UTILITY HOLDING COMPANY
ACT OF 1935
_______________________________________
National Fuel Gas Company
10 Lafayette Square
Buffalo, New York 14203
(Name of company filing this statement
and address of principal
executive offices)
_______________________________________
NATIONAL FUEL GAS COMPANY
(Name of top registered holding company)
_______________________________________
R. M. DiValerio, Secretary
National Fuel Gas Company
10 Lafayette Square
Buffalo, New York 14203
(Name and address of agent for service)
The Commission is requested to send copies of all notices,
orders and communications in connection with this declaration to:
K. G. Storie, Senior Attorney
10 Lafayette Square
Buffalo, New York 14203
C. (Use of Proceeds) is hereby amended to read in its entirety as
follows:
National will receive no proceeds as such from the issuance of
such Additional Common Stock to Vanguard as trustee of the TDSP and
Non-union TDSP, as any such issuance, when made, will be in lieu of
cash Matching Contributions. Because cash payments will be reduced
as a result of any issuance of Additional Common Stock respecting the
TDSP and Non-union TDSP, short-term debt may thereby be replaced with
equity.
Currently, the monthly contributions to Vanguard for National
Stock Fund B are approximately as follows: $86,876 (for the TDSP) and
$177,284 (for the Non-union TDSP). Thus, based upon current figures,
for each year that National issues only Additional Common Stock
respecting National Stock Fund B for both plans, cash outlays will be
reduced by approximately $3.2 million.
Neither National nor any of its subsidiaries has an ownership
interest in an exempt wholesale generator ("EWG") or foreign utility
company ("FUCO") as defined in Sections 32 and 33 of the Act.
Further, none of the proceeds from the issuance by National or any of
its subsidiaries of the Additional Common Stock as contemplated
hereunder will be used for the acquisition of an interest in an EWG or
a FUCO.
Item 6. Exhibits and Financial Statements
The following financial statements are made a part of this
statement.
FS-4 Consolidated Balance Sheet as of June 30, 1994.
FS-5 Consolidated Statement of Income and Earnings
Reinvested in the Business for the twelve months ended
June 30, 1994.
FS-6 Notes to Consolidated Financial Statements.
SIGNATURES
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned company has duly caused this
statement to be signed on its behalf by the undersigned thereunto duly
authorized.
NATIONAL FUEL GAS COMPANY
/s/Philip C. Ackerman
Philip C. Ackerman
Senior Vice President
Dated: October 31, 1994
National Fuel Gas Company
Consolidated Balance Sheet
June 30, 1994
(Unaudited)
(Thousands of Dollars)
ASSETS
Property, Plant and Equipment $2,102,571
Less - Accumulated Depreciation, Depletion
and Amortization 587,331
1,515,240
Current Assets
Cash and Temporary Cash Investments 15,321
Receivables - Net 142,845
Unbilled Utility Revenue 12,578
Gas Stored Underground 14,277
Materials and Supplies - at average cost 23,019
Unrecovered Purchased Gas Costs 4,658
Prepayments 20,592
233,290
Other Assets
Recoverable Future Taxes 102,961
Deferred Contract Reformation Costs 10,079
Unamortized Debt Expense 26,523
Other Regulatory Assets 34,246
Deferred Charges 8,455
Other 24,329
206,593
$1,955,123
See Notes to Consolidated Financial Statements
National Fuel Gas Company
Consolidated Balance Sheet
June 30, 1994
(Unaudited)
(Thousands of Dollars)
CAPITALIZATION AND LIABILITIES
Capitalization:
Common Stock Equity
Common Stock, $1 Par Value
Authorized - 100,000,000 Shares; Issued and
Outstanding - 37,185,953 Shares $ 37,186
Paid in Capital 376,394
Earnings Reinvested in the Business 378,150
Total Common Stock Equity 791,730
Long-Term Debt, Net of Current Portion 462,500
Total Capitalization 1,254,230
Current and Accrued Liabilities
Notes Payable to Banks and
Commercial Paper 24,800
Current Portion of Long-Term Debt 115,917
Accounts Payable 42,554
Amounts Payable to Customers 45,617
Other Accruals and Current Liabilities 110,837
339,725
Deferred Credits
Taxes Refundable to Customers 31,985
Unamortized Investment Tax Credit 14,229
Accumulated Deferred Income Taxes 279,783
Other Deferred Credits 35,171
361,168
Commitments and Contingencies -
$1,955,123
See Notes to Consolidated Financial Statements
National Fuel Gas Company
Consolidated Statement of Income and Earnings
Reinvested in the Business
Twelve Months Ended June 30, 1994
(Unaudited)
(Thousands of Dollars)
INCOME
Operating Revenues $1,148,982
Operating Expenses
Purchased Gas 497,521
Operation Expense 270,420
Maintenance 29,830
Property, Franchise and Other Taxes 102,719
Depreciation, Depletion and Amortization 71,832
Income Taxes - Net 51,803
1,024,125
Operating Income 124,857
Other Income 3,818
Income Before Interest Charges 128,675
Interest Charges
Interest on Long-Term Debt 35,403
Other Interest 10,912
46,315
Income Before Cumulative Effect 82,360
Cumulative Effect of Change
in Accounting for Income Taxes 3,826
Net Income Available for Common Stock 86,186
EARNINGS REINVESTED IN THE BUSINESS
Balance at July 1 349,121
Dividends on Common Stock 57,157
Balance at June 30 $378,150
Earnings Per Common Share
Income Before Cumulative Effect $2.24
Cumulative Effect of Change
in Accounting for Income Taxes .10
Net Income Available for Common Stock $2.34
Weighted Average Common Shares Outstanding 36,892,256
See Notes to Consolidated Financial Statements
National Fuel Gas Company
Notes to Consolidated Financial Statements
1. The Notes to Consolidated Financial Statements appearing on
pages 57 to 88 of National Fuel Gas Company's September 30, 1993
Form 10-K are incorporated herein by reference.
2. The Notes to Consolidated Financial Statements appearing on
pages 8 to 16 of National Fuel Gas Company's June 30, 1994 Form
10-Q are incorporated herein by reference.
3. Analysis of Investments in Associated Companies at June 30, 1994
(thousands of dollars):
Par Earnings Total
or Stated Reinvested Unremitted Investment
Value of in the Earnings in Associated
Subsidiary Paid in Business at Since Companies at
Stock Capital Acquisition Acquisition Equity
Registrant:
Distribution
Corporation $ 59,171 $121,668 $4,636 $218,845 $404,320
Supply Corp. 25,345 6,562 2,453 126,454 160,814
Penn-York 29,332 - - 2,910 32,242
Seneca Resources 500 92,245 6 (19,344) 73,407
Leidy Hub 4 1,038 - (454) 588
Empire Explor-
ation 15 11,714 - 6,188 17,917
Highland 5 445 - 3,781 4,231
UCI 1 5,959 - (2,542) 3,418
Data-Track 1 499 - 85 585
National Fuel
Resources 10 3,490 - 1,991 5,491
Consolidating
Adjustment - - - 18,038 18,038
114,384 243,620 7,095 355,952 721,051
Supply Corporation:
Empire Explor-
ation - 61 - - 61
$114,384 $243,681 $7,095 $355,952 $721,112
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED STATEMENT OF INCOME AND EARNINGS REINVESTED IN THE BUSINESS
FOR THE TWELVE MONTHS ENDED JUNE 30, 1994 AND THE CONSOLIDATED BALANCE SHEET AS
OF JUNE 30, 1994 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000070145
<NAME> NATIONAL FUEL GAS COMPANY
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1994
<PERIOD-END> JUN-30-1994
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 1,209,687
<OTHER-PROPERTY-AND-INVEST> 305,553
<TOTAL-CURRENT-ASSETS> 233,290
<TOTAL-DEFERRED-CHARGES> 8,455
<OTHER-ASSETS> 198,138
<TOTAL-ASSETS> 1,955,123
<COMMON> 37,186
<CAPITAL-SURPLUS-PAID-IN> 376,394
<RETAINED-EARNINGS> 378,150
<TOTAL-COMMON-STOCKHOLDERS-EQ> 791,730
0
0
<LONG-TERM-DEBT-NET> 462,500
<SHORT-TERM-NOTES> 4,800
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 20,000
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<INCOME-TAX-EXPENSE> 51,803
<OTHER-OPERATING-EXPENSES> 972,322
<TOTAL-OPERATING-EXPENSES> 1,024,125
<OPERATING-INCOME-LOSS> 124,857
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<EARNINGS-AVAILABLE-FOR-COMM> 86,186
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