OHIO POWER COMPANY
COOK COAL TERMINAL
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 22977
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1996
CONTENTS
Page
Statements of Transfer Fee Billings 1
Summary of Costs Incurred 2
Rate of Return on Investment 3
Rail Car Maintenance Facility
Report for the Year 1996 (Attachment)
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OHIO POWER COMPANY
COOK COAL TERMINAL
STATEMENTS OF TRANSFER FEE BILLINGS
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1996
<CAPTION>
October 1996 November 1996 December 1996
Tons Unit Price Amount Tons Unit Price Amount Tons Unit Price Amount
(per ton) (000) (per ton) (000) (per ton) (000)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SERVICE TO AFFILIATES
Indiana Michigan Power
Company and AEP
Generating Company:
Rockport Plant . . . . . 807,200 $1.34 $1,082 652,485 $1.34 $ 874 757,488 $1.25 $ 947
SERVICE TO NON-AFFILIATES. . 283,169 $1.11 315 316,218 $1.11 352 329,810 $1.11 367
TOTAL. . . . . . . . . . 1,090,369 $1,397 968,703 $1,226 1,087,298 $1,314
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OHIO POWER COMPANY
COOK COAL TERMINAL
SUMMARY OF COSTS INCURRED
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1996
Three
Months
October November December Ended
1996 1996 1996 12/31/96
(in thousands)
Rents. . . . . . . . . $ 589 $ 583 $ 591 $1,763
Labor-UMW* . . . . . . 152 154 163 469
Benefits-UMW*. . . . . 149 139 157 445
Salaries and
Benefits-Nonunion. . 62 54 50 166
Materials & Supplies . 103 66 698 867
Billed Services. . . . 101 76 239 416
Taxes**. . . . . . . . 62 (27) 62 97
Administrative and
General. . . . . . . 158 116 199 473
Inventory
Adjustments***. . . . 38 (53) (6) (21)
Electricity. . . . . . 85 72 67 224
Cost-of-Capital. . . . 42 31 26 99
Total. . . . $1,541 $1,211 $2,246 $4,998
* United Mine Workers of America.
** Excludes FICA, Federal Unemployment and State Unemployment.
These costs are reflected in employee benefits.
*** Represents the net change in transfer costs assigned to coal
inventory at the terminal.
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OHIO POWER COMPANY
COOK COAL TERMINAL AND RAIL CAR MAINTENANCE FACILITY
Rate of Return on Investments
After-Tax
Capitalization Percent Effective Weighted
Component at 12/31/96 of Total Cost Rate of Return
(000)
Long-Term Debt $ 957,626(a) 39.14% 7.47%(c) 2.92%
Preferred Stock 148,432 6.07% 5.73%(c) .35%
Common Stock 1,340,260(b) 54.79% 12.81%(d) 7.02%
Total $2,446,318 100.00% 10.29%*
(a) Includes Long-Term Debt due in one-year and is net of
unamortized debt premium and discount, unamortized debt
expense, and the unamortized loss on reacquired debt.
(b) Common Equity includes the premium on preferred stock and
excludes undistributed subsidiary earnings.
(c) Embedded Cost at 12/31/96.
(d) The rate allowed by the PUCO in 1995 in a retail rate
settlement approved in March 1995.
* Rate will be applied for billing purposes to the twelve
months period commencing April 1, 1997.
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OHIO POWER COMPANY
COOK COAL TERMINAL
RAIL CAR MAINTENANCE FACILITY
ANNUAL REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 22977 and 25427
FOR THE YEAR ENDED DECEMBER 31, 1996
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OHIO POWER COMPANY
COOK COAL TERMINAL
RAIL CAR MAINTENANCE FACILITY
STATEMENT OF BILLINGS AND COSTS INCURRED
FOR THE YEAR 1996
Affiliated Unaffiliated Total
(in thousands)
Revenues:
Indiana Michigan Power Company. $2,246 - $2,246
Ohio Power Company. . . . . . . 57 - 57
Ohio Valley Electric Company. . 200 - 200
Unaffiliated Companies. . . . . - $111 111
Total Revenues. . . . . . . . 2,503 111 2,614
Cost of Sales:
Labor . . . . . . . . . . . . . 175 29 204
Material. . . . . . . . . . . . 1,390 (4) 1,386
Overheads . . . . . . . . . . . 938 86 1,024
Total Cost of Sales . . . . . 2,503 111 2,614
Gross Margin. . . . . . . . . . . $ - $ - $ -
Affiliated work is recognized as revenue and billed one month
after the costs are incurred. Work for unaffiliated companies is
recognized as revenue one month after the costs are incurred, but
billed when the work is completed.
The above cost of sales does not include $257,000 of deferred
expenses as of December 31, 1996 related to December work
performed but not yet billed.
