File No. 1-8644
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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
IPALCO ENTERPRISES, INC.
One Monument Circle, P.O. Box 1595
Indianapolis, Indiana 46206-1595
February 27, 1996
<PAGE>
File No. 1-8644
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
IPALCO ENTERPRISES, 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, other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly or
indirectly holds an interest:
IPALCO Enterprises, Inc. (claimant) is an Indiana
corporation and has its principal executive office at One
Monument Circle, Indianapolis, Indiana 46204.
Indianapolis Power & Light Company (IPL) is an Indiana
corporation engaged in the business of generating,
transmitting and selling electric energy in the City of
Indianapolis, Marion County and in neighboring cities, towns
and communities and adjacent rural areas, all within the
State of Indiana, the most distant point being about forty
miles from Indianapolis. It also produces, distributes and
sells steam within a limited area in such City. In July,
1965, IPL formed Property and Land Company, Inc., an Indiana
Corporation, for the purpose of engaging in the business of
buying, owning, holding, improving, leasing, selling, and
otherwise dealing in and with real estate, and for other
general purposes.
Unless otherwise indicated, each of the following
subsidiaries is an Indiana corporation conducting business within
the State of Indiana. In July, 1984, claimant organized Mid-
America Capital Resources, Inc. (MACR), a wholly-owned subsidiary
of claimant, under and through which claimant intends to conduct
its non-regulated activities. On November 17, 1989 a wholly owned
subsidiary of MACR, called Mid-America Energy Resources, Inc.
(MAER) was formed to own and operate a district cooling system to
provide chilled water for the purpose of air conditioning buildings
in downtown Indianapolis. On July 25, 1991, MAER acquired, for the
total price of $9 Million, Cleveland Thermal Energy Corporation
(CTEC), an Ohio corporation, as a subsidiary. CTEC owns and
operates a steam heating system in Cleveland, Ohio. On March 31,
1992, Cleveland District Cooling Corporation (CDCC), an Ohio
corporation, was formed to own and operate a district cooling
system in downtown Cleveland.
<PAGE>
In 1992, MACR acquired a 30% ownership interest in
Store Heat and Produce Energy, Inc. (SHAPE), and currently
holds a 70% interest in SHAPE. SHAPE conducts research and
development of energy storage technology. Indianapolis
Campus Energy, Inc. (ICE) was formed in 1993 to construct,
own and operate energy systems on campus locations such as
industrial complexes or college campuses.
Property and Land Company, Inc., MACR, MAER, CTEC, CDCC,
SHAPE and ICE are not "public utility companies" as defined in the
Act.
Future diversification opportunities for investment
into other business are continually being reviewed, but no
further acquisition has been made as of the date hereof. In
carrying out its diversification activities, claimant does
not intend to take any action which will impair its primary
commitment to provide adequate public utility service to
customers of IPL.
2. A brief description of the properties of claimant and each of
its subsidiary public utility companies used for the generation,
transmission, and distribution of electric energy for sale, indicating
the location of principal generating plants, transmission lines, and
electric distribution facilities, including all such properties which are
outside the State of Indiana and all transmission lines which deliver or
receive electric energy at the borders of such State:
At the date of the filing of this Statement the
claimant had no properties of the nature above-described in
the State of Indiana or elsewhere, being solely a holding
company owning cash and all of the issued and outstanding
shares of Common Stock of IPL and MACR.
The properties of IPL, claimant's only public utility
subsidiary, used for the generation, transmission and
distribution of electric energy for sale are located wholly
within the State of Indiana and consist of the following:
Generating Plants:
IPL owns and operates five primarily coal-fired
generating plants, three of which are used for total electric
generation and two of which are for a combination of electric
and steam generation. The generating plants have a total
gross nameplate rating of 3,035 MW, a winter capability of
3,064 MW and a summer capability of 2,986 MW. All figures
are net of station use.
Total Electric Stations:
H.T. Pritchard Plant, 25 miles southwest of Indianapolis,
seven units in service with 367 MW nameplate rating (net winter
capability 344 MW, summer 341 MW).
E.W. Stout Plant, located in the southwest part of Marion
County, Indiana, eleven units in service with 921 MW nameplate
rating (net winter capability 1,000 MW, summer 924 MW).
Petersburg Plant, located in Pike County, Indiana, seven units
in service with 1,716 MW nameplate rating (net winter
capability 1,690 MW, summer 1,690 MW).
The number of units indicated above include three gas turbine units
at the Stout Plant added in 1973, one gas turbine added in 1994,
one gas turbine added in 1995, one diesel unit each at Pritchard
and Stout Plants and three diesel units at Petersburg Plant, all
added in 1967.
Combination Electric and Steam Stations:
C.C. Perry Section K Plant, in the City of Indianapolis, with 20 MW
nameplate rating (net winter capability 20 MW, summer 19 MW) for
electric and a gross capacity of 1,990 M/lbs. per hour for steam.
C.C. Perry Section W Plant, in the City of Indianapolis, with 11 MW
nameplate rating (net winter capability 10 MW, summer 12 MW) for
electric and a gross capacity of 300 M/lbs. per hour for steam.
Transmission and Distribution System Properties:
IPL's transmission system located entirely within the
State of Indiana includes 457 circuit miles of 345,000 volt
lines, 361 circuit miles of 138,000 volt lines and 271 miles
of 34,500 volt lines. Distribution facilities include 4,693
pole miles and 19,826 wire miles of overhead lines.
Underground distribution and service facilities include 465
miles of conduit and 5,148 wire miles of conductor.
Underground street lighting facilities include 107 miles of
conduit and 670 wire miles of conductor. The system also has
74 bulk power substations and 80 distribution substations.
None of the transmission lines is positioned or located
to deliver or receive electric energy at the borders of the
State of Indiana.
3. The following information is for the calendar year 1995 with
respect to IPL, claimant's only subsidiary public utility company:
(a) Number of KWH of electric energy sold (at retail
or wholesale) by IPL: 13,478,237,962 KWH.
(b) Number of KWH of electric energy distributed at
retail outside the State of Indiana by IPL: None.
(c) Number of KWH of electric energy sold at wholesale
outside the State of Indiana by IPL: None.
(d) Number of KWH of electric energy purchased outside
the State of Indiana or at the State line: None.
4. Claimant does not hold directly or indirectly any interest in
an EWG or a foreign utility company.
(a) Name, location, business address and description of the
facilities used by the EWG or foreign utility company for the
generation, transmission and distribution of electric energy
for sale or for the distribution at retail of natural or
manufactured gas.
Not Applicable.
(b) Name of each system company that holds an interest in such
EWG or foreign utility company; and description of the
interest held.
Not Applicable.
(c) Type and amount of capital invested, directly or indirectly,
by the holding company claiming exemption; any direct or
indirect guarantee of the security of the EWG or foreign
utility company by the holding company claiming exemption;
and any debt or other financial obligation for which there is
recourse, directly or indirectly, to the holding company
claiming exemption or another system company, other than the
EWG or foreign utility company.
Not Applicable.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
Not Applicable.
(e) Identify any service, sales or construction contract(s)
between the EWG or foreign utility company and a system
company, and describe the services to be rendered or goods
sold and fees or revenues under such agreement(s).
Not Applicable.
Annexed hereto as Exhibit A is a consolidating statement of income
and surplus of the claimant and its subsidiary companies for the last
calendar year (1995), together with a consolidating balance sheet of the
claimant and its subsidiary companies as of the close of such calendar
year.
Attached hereto as Exhibit B is the Financial Data Schedule.
Exhibit C is not applicable to this filing. (See Paragraph 4
above.)
<PAGE>
The above-named claimant has caused this statement to be duly
executed on its behalf by its authorized officers on this 27th day of
February, 1996.
IPALCO Enterprises, Inc.
(Name of claimant)
By /s/ John R. Brehm
John R. Brehm
Vice President and Treasurer
(CORPORATE SEAL)
Attest:
/s/ Bryan G. Tabler
Bryan G. Tabler, Secretary
Name, title, and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Bryan G. Tabler, Vice President, Secretary and General Counsel
One Monument Circle, Indianapolis, Indiana 46204
<TABLE>
IPALCO ENTERPRISES, INC. and SUBSIDIARIES EXHIBIT A
Consolidated Balance Sheets, December 31, 1995
(Dollars in Thousands)
<CAPTION>
MACR Total
ASSETS CTEC CDCC MAER (Parent) ICE SHAPE MACR
<S> <C> <C> <C> <C> <C> <C> <C>
UTILITY PLANT:
Utility plant in service $0 $0 $0 $0 $0 $0 $0
Less accumulated depreciation 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
Utility plant in service -net 0 0 0 0 0 0 0
Construction work in progress 0 0 0 0 0 0 0
Property held for future use 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
Utility plant - net 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS - NET 14,382 29,451 80,108 63,054 15,990 254 203,239
- ----------------------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 20 0 353 939 1 1 1,314
Financial investments 0 0 0 0 0 0 0
Accounts receivable (less allowance
for doubtful accounts - $852) 2,550 138 18,246 30,214 89 35 51,272
Fuel - at average cost 356 0 0 0 0 0 356
Materials and supplies-at average cost 437 290 159 0 62 110 1,058
Prepayments and other current assets 155 371 28 (248) 1 10 317
- ----------------------------------------------------------------------------------------------------------------------------------
Total current assets 3,518 799 18,786 30,905 153 156 54,317
- ----------------------------------------------------------------------------------------------------------------------------------
DEFERRED DEBITS:
Regulatory assets 0 0 0 0 0 0 0
Miscellaneous 385 2,344 2,298 513 197 88 5,825
- ----------------------------------------------------------------------------------------------------------------------------------
Total deferred debits 385 2,344 2,298 513 197 88 5,825
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL $18,285 $32,594 $101,192 $94,472 $16,340 $498 $263,381
==================================================================================================================================
</TABLE>
EXHIBIT A
<TABLE>
CONTINUATION OF PREVIOUS TABLE IPALCO ENTERPRISES, INC. and SUBSIDIARIES
Consolidated Balance Sheets, December 31, 1995
(Dollars in Thousands)
<CAPTION>
MACR
Consolidating Consolidating
Entries Consolidated Entries
Debit Credit MACR IPL Enterprises Debit Credit Consolidation
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
UTILITY PLANT:
Utility plant in service $0 $0 $0 $2,517,790 $0 $0 $0 $2,517,790
Less accumulated depreciation 0 0 0 984,910 0 0 0 984,910
- -----------------------------------------------------------------------------------------------------------------------------------
Utility plant in service - net 0 0 0 1,532,880 0 0 0 1,532,880
Construction work in progress 0 0 0 249,249 0 0 0 249,249
Property held for future use 0 0 0 9,878 0 0 0 9,878
- -----------------------------------------------------------------------------------------------------------------------------------
Utility plant - net 0 0 0 1,792,007 0 0 0 1,792,007
- -----------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS - net 95,046 108,193 4,454 822,009 0 820,069 (A) 114,587
- -----------------------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS:
Cash and cash equivalents 0 0 1,314 9,985 255 0 0 11,554
Financial investments 0 0 0 0 0 0 0 0
Accounts receivable (less allowance
for doubtful accounts - $852) 0 47,658 3,614 57,152 21,074 0 22,767 (B) 59,073
Fuel - at average cost 0 0 356 29,894 0 0 0 30,250
Materials and supplies-at average cost 0 0 1,058 56,547 0 0 0 57,605
Prepayments and other current assets 0 0 317 4,095 0 0 0 4,412
- -----------------------------------------------------------------------------------------------------------------------------------
Total current assets 0 47,658 6,659 157,673 21,329 0 22,767 162,894
- -----------------------------------------------------------------------------------------------------------------------------------
DEFERRED DEBITS:
Regulatory assets 0 0 0 142,711 0 142,711
Miscellaneous 0 0 5,825 11,971 1,202 0 0 18,998
- -----------------------------------------------------------------------------------------------------------------------------------
Total deferred debits 0 0 5,825 154,682 1,202 0 0 161,709
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL $0 $142,704 $120,677 $2,108,816 $844,540 $0 $842,836 $2,231,197
===================================================================================================================================
</TABLE>
<TABLE> EXHIBIT A
IPALCO ENTERPRISES, INC. and SUBSIDIARIES
Consolidated Balance Sheets, December 31, 1995
(Dollars in Thousands)
<CAPTION>
MACR Total
CTEC CDCC MAER (Parent) ICE SHAPE MACR
<S> <C> <C> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholders' equity:
Common stock $9,000 $25,000 $59,500 $33,702 $1 $1,545 $128,748
Premium on 4% cumulative preferred
stock 0 0 0 0 0 0 0
Advances - Associated Companies 6,726 10,835 26,228 0 424 3,445 47,658
Retained earnings (557) (5,097) (6,901) 57,705 0 (4,549) 40,601
- ----------------------------------------------------------------------------------------------------------------------------------
Total common shareholders' equity 15,169 30,738 78,827 91,407 425 441 217,007
Cumulative preferred stock 0 0 0 0 0 0 0
Long-term debt 0 0 18,800 0 10,800 0 29,600
- ----------------------------------------------------------------------------------------------------------------------------------
Total capitalization 15,169 30,738 97,627 91,407 11,225 441 246,607
- ----------------------------------------------------------------------------------------------------------------------------------
CURRENT LIABILITIES:
Notes payable-banks and commercial paper 100 0 0 4,000 0 0 4,100
Current maturities and sinking fund
requirements 0 0 0 0 2,350 0 2,350
Accounts payable and accrued expenses 2,922 1,321 1,606 1,049 2,453 50 9,401
Dividends payable 0 0 0 0 0 0 0
Taxes accrued 870 8 728 82 24 7 1,719
Interest accrued 0 0 94 13 288 0 395
Other current liabilities 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
Total current liabilities 3,892 1,329 2,428 5,144 5,115 57 17,965
- ----------------------------------------------------------------------------------------------------------------------------------
DEFERRED CREDITS AND OTHER
LONG-TERM LIABILITIES:
Accumulated deferred income taxes-net (776) 527 1,137 (2,104) 0 0 (1,216)
Unamortized investment tax credit 0 0 0 0 0 0 0
Accrued postretirement benefits 0 0 0 0 0 0 0
Accrued pension benefits 0 0 0 0 0 0 0
Miscellaneous 0 0 0 25 0 0 25
- ----------------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other
long-term liabilities (776) 527 1,137 (2,079) 0 0 (1,191)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL $18,285 $32,594 $101,192 $94,472 $16,340 $498 $263,381
===================================================================================================================================
</TABLE>
<TABLE> EXHIBIT A
CONTINUATION OF PREVIOUS TABLE
IPALCO ENTERPRISES, INC. and SUBSIDIARIES
Consolidated Balance Sheets, December 31, 1995
(Dollars in Thousands)
<CAPTION>
MACR
Consolidating
Entries Consolidated Consolidating Entries
Debit Credit MACR IPL Enterprises Debit Credit Consolidation
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholders' equity:
Common stock $95,046 $0 $33,702 $324,537 $385,032 $358,239 (A) $0 $385,032
Premium on 4% cumulative preferred
stock 0 0 0 1,363 0 0 0 1,363
Advances - Associated Companies 47,658 0 0 0 0 0 0 0
Retained earnings 0 0 40,601 421,229 436,408 461,830 (A) 0 436,408
- ----------------------------------------------------------------------------------------------------------------------------------
Total common shareholders' equity 142,704 0 74,303 747,129 821,440 820,069 0 822,803
Cumulative preferred stock 0 0 0 51,898 0 0 0 51,898
Long-term debt 0 0 29,600 669,000 0 0 0 698,600
- ----------------------------------------------------------------------------------------------------------------------------------
Total capitalization 142,704 0 103,903 1,468,027 821,440 820,069 0 1,573,301
- ----------------------------------------------------------------------------------------------------------------------------------
CURRENT LIABILITIES:
Notes payable-banks and commercial paper 0 0 4,100 65,022 0 0 0 69,122
Current maturities and sinking fund
requirements 0 0 2,350 15,150 0 0 0 17,500
Accounts payable and accrued expenses 0 0 9,401 73,053 1,844 2,314 (B) 0 81,984
Dividends payable 0 0 0 21,263 20,757 20,453 (B) 0 21,567
Taxes accrued 0 0 1,719 19,023 483 0 0 21,225
Interest accrued 0 0 395 14,324 0 0 0 14,719
Other current liabilities 0 0 0 16,092 0 0 0 16,092
- ----------------------------------------------------------------------------------------------------------------------------------
Total current liabilities 0 0 17,965 223,927 23,084 22,767 0 242,209
- ----------------------------------------------------------------------------------------------------------------------------------
DEFERRED CREDITS AND OTHER
LONG-TERM LIABILITIES:
Accumulated deferred income taxes 0 0 (1,216) 293,748 (115) 0 0 292,417
Unamortized investment tax credit 0 0 0 50,636 0 0 0 50,636
Accrued postretirement benefits 0 0 0 30,517 0 0 0 30,517
Accrued pension benefits 0 0 0 31,834 0 0 0 31,834
Miscellaneous 0 0 25 10,127 131 0 0 10,283
- ----------------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other
long-term liabilities 0 0 (1,191) 416,862 16 0 0 415,687
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL $142,704 $0 $120,677 $2,108,816 $844,540 $842,836 $0 $2,231,197
==================================================================================================================================
</TABLE>
<TABLE> EXHIBIT A
IPALCO ENTERPRISES, INC. and SUBSIDIARIES
Statements of Consolidated Income
For the Year Ended December 31, 1995
(Dollars In Thousands)
<CAPTION>
MACR Consolidated
CTEC CDCC MAER (Parent) ICE SHAPE MACR
<S> <C> <C> <C> <C> <C> <C> <C>
UTILITY OPERATING REVENUES:
Electric $0 $0 $0 $0 $0 $0 $0
Steam 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
Total operating revenues 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
UTILITY OPERATING EXPENSES:
Operation:
Fuel 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Power purchased 0 0 0 0 0 0 0
Purchased steam 0 0 0 0 0 0 0
Maintenance 0 0 0 0 0 0 0
Depreciation and amortization 0 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0 0
Income taxes - net 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
Total operating expenses 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
OPERATING INCOME 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
OTHER INCOME AND DEDUCTIONS:
Allowance for equity funds used
during construction
Other - net 321 (3,112) 1,253 9 0 (1,584) (3,113)
Income taxes - net (152) 1,117 (297) 547 0 0 1,215
- -----------------------------------------------------------------------------------------------------------------------------------
Total other income and deductions-net 169 (1,995) 956 556 0 (1,584) (1,898)
- -----------------------------------------------------------------------------------------------------------------------------------
INCOME BEFORE INTEREST AND OTHER CHARGES 169 (1,995) 956 556 0 (1,584) (1,898)
- -----------------------------------------------------------------------------------------------------------------------------------
INTEREST AND OTHER CHARGES:
Interest on long-term debt 0 0 514 0 0 0 514
Allowance for borrowed funds
used during construction 0 0 0 0 0 0 0
Other interest 0 0 0 326 0 0 326
Amortization of redemption premiums
and expenses on debt - net 0 0 13 0 0 0 13
Preferred dividend
requirements of subsidiary 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
Total interest and other charges - net 0 0 527 326 0 0 853
- ----------------------------------------------------------------------------------------------------------------------------------
NET INCOME $169 ($1,995) $429 $230 $0 ($1,584) ($2,751)
===================================================================================================================================
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
</TABLE>
<TABLE> EXHIBIT A
CONTINUATION OF PREVIOUS TABLE
IPALCO ENTERPRISES, INC. and SUBSIDIARIES
Statements of Consolidated Income
For the Year Ended December 31, 1995
(Dollars In Thousands)
<CAPTION>
Consolidating Entries
IPL Enterprises Debit Credit Consolidation
<S> <C> <C> <C> <C> <C>
UTILITY OPERATING REVENUES:
Electric $673,388 $0 $0 $0 $673,388
Steam 35,818 0 0 0 35,818
- ----------------------------------------------------------------------------------------------------------------------
Total operating revenues 709,206 0 0 0 709,206
- ----------------------------------------------------------------------------------------------------------------------
UTILITY OPERATING EXPENSES:
Operation:
Fuel 169,206 0 0 0 169,206
Other 116,428 0 0 0 116,428
Power purchased 19,102 0 0 0 19,102
Purchased steam 6,680 0 0 0 6,680
Maintenance 63,013 0 0 0 63,013
Depreciation and amortization 100,984 0 0 0 100,984
Taxes other than income taxes 31,706 0 0 0 31,706
Income taxes - net 53,975 0 0 0 53,975
- ----------------------------------------------------------------------------------------------------------------------
Total operating expenses 561,094 0 0 0 561,094
- ----------------------------------------------------------------------------------------------------------------------
OPERATING INCOME 148,112 0 0 0 148,112
- ----------------------------------------------------------------------------------------------------------------------
OTHER INCOME AND DEDUCTIONS:
Allowance for equity funds used
during construction 6,003 0 0 0 6,003
Other - net (2,020) (2,274) 0 0 (7,407)
Income taxes - net 407 951 0 0 2,573
- ----------------------------------------------------------------------------------------------------------------------
Total other income and deductions-net 4,390 (1,323) 0 0 1,169
- ----------------------------------------------------------------------------------------------------------------------
INCOME BEFORE INTEREST AND OTHER CHARGES 152,502 (1,323) 0 0 149,281
- ----------------------------------------------------------------------------------------------------------------------
INTEREST AND OTHER CHARGES:
Interest on long-term debt 45,656 0 0 0 46,170
Allowance for borrowed funds
used during construction (5,367) 0 0 0 (5,367)
Other interest 4,728 239 0 0 5,293
Amortization of redemption premiums
and expenses on debt - net 1,212 0 0 0 1,225
Preferred dividend
requirements of subsidiary 3,182 0 0 0 3,182
- ----------------------------------------------------------------------------------------------------------------------
Total interest and other charges - net 49,411 239 0 0 50,503
- ----------------------------------------------------------------------------------------------------------------------
NET INCOME $103,091 ($1,562) $0 $0 $98,778
======================================================================================================================
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 37,830
===============
EARNINGS PER SHARE OF COMMON STOCK $2.61
===============
</TABLE>
<TABLE> EXHIBIT A
IPALCO ENTERPRISES, INC. and SUBSIDIARIES
Statements of Consolidated Retained Earnings
For the Year Ended December 31, 1995
(Dollars in Thousands)
<CAPTION>
MACR Total
CTEC CDCC MAER (Parent) ICE SHAPE MACR
<S> <C> <C> <C> <C> <C> <C> <C>
RETAINED EARNINGS AT BEGINNING OF YEAR ($726) ($3,102) ($7,330) $57,475 $0 ($2,965) $43,352
NET INCOME 169 (1,995) 429 230 0 (1,584) (2,751)
- ----------------------------------------------------------------------------------------------------------------------------------
Total (557) (5,097) (6,901) 57,705 0 (4,549) 40,601
- ----------------------------------------------------------------------------------------------------------------------------------
DEDUCT:
Cash dividends declared:
Cumulative preferred stock - at
prescribed rate of each series 0 0 0 0 0 0 0
Common stock 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
Total 0 0 0 0 0 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
RETAINED EARNINGS AT END OF YEAR ($557) ($5,097) ($6,901) $57,705 $0 ($4,549) $40,601
==================================================================================================================================
</TABLE>
<TABLE> EXHIBIT A
CONTINUATION OF PREVIOUS TABLE
IPALCO ENTERPRISES, INC. and SUBSIDIARIES
Statements of Consolidated Retained Earnings
For the Year Ended December 31, 1995
<CAPTION>
MACR
Consolidating
Entries Consolidated Consolidated Consolidating Entries
Debit Credit MACR IPL Enterprises Debit Credit Consolidation
<S> <C> <C> <C> <C> <C> <C> <C><C> <C> <C>
RETAINED EARNINGS AT BEGINNING OF YEAR $0 $0 $43,352 $399,862 $419,354 $443,214 (A) $0 $419,354
NET INCOME 0 0 (2,751) 106,273 98,778 103,522 (A) 98,778
- -----------------------------------------------------------------------------------------------------------------------------------
Total 0 0 40,601 506,135 518,132 546,736 0 518,132
- -----------------------------------------------------------------------------------------------------------------------------------
DEDUCT:
Cash dividends declared:
Cumulative preferred stock - at
prescribed rate of each series 0 0 0 3,182 0 0 3,182 (A) 0
Common stock 0 0 0 81,724 81,724 0 81,724 (A) 81,724
- -----------------------------------------------------------------------------------------------------------------------------------
Total 0 0 0 84,906 81,724 0 84,906 81,724
- -----------------------------------------------------------------------------------------------------------------------------------
RETAINED EARNINGS AT END OF YEAR $0 $0 $40,601 $421,229 $436,408 $546,736 $84,906 $436,408
===================================================================================================================================
</TABLE>
<TABLE>
EXHIBIT A
IPALCO ENTERPRISES, INC. and SUBSIDIARIES
Consolidating Entries for the Year Ended December 31, 1995
<CAPTION>
Debit Credit
<S> <C> <C>
(A) Common Stock - IPL $324,537
Common Stock - Mid-America 33,702
Retained Earnings - Subsidiaries
(Beginning Balance)* 443,214
Net Income of Subsidiary Companies* 103,522
Preferred Dividends - IPL* $3,182
Dividends Declared of Subsidiary Companies* 81,724
Investment in Subsidiary Companies 820,069
To eliminate Enterprises investments in IPL and Mid-America.
*Net Credit to Retained Earnings on the balance sheet is $461,830
(B) Accounts Payable $2,314
Dividends Payable 20,453
Accounts Receivable from Associated Companies 22,767
To eliminate intercompany receivables and payables.
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<CIK> 0000728391
<NAME> IPALCO ENTERPRISES, INC.
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 2,231,197
<TOTAL-OPERATING-REVENUES> 709,206
<NET-INCOME> 98,778
</TABLE>
