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
* * * * *
File No. 69-291
TNP Enterprises, Inc.
(Name of Company)
hereby files with the Securities and Exchange 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 (Act), and submits the following
information:
1. The name, State of organization, location and nature of business of
claimant and every subsidiary thereof:
State of Location and
Name Organization Nature of Business
---- ------------ ------------------
TNP Enterprises, Inc. Texas P. O. Box 2943
Ft. Worth, TX 76113
Holding Company
Texas-New Mexico Power Company Texas P. O. Box 2943
Ft. Worth, TX 76113
Electric Utility/
Holding Company
Facility Works, Inc. Texas P. O. Box 2943
(formerly known as Ft. Worth, TX 76113
Community Public Service Company) General purpose
corporation
TNP Operating Company Texas P. O. Box 2943
Ft. Worth, TX 76113
General purpose
corporation
(presently inactive)
Texas Generating Company* Texas P. O. Box 2943
Ft. Worth, TX 76113
Special purpose
corporation
Texas Generating Company II* Texas P. O. Box 2943
Ft. Worth, TX 76113
Special purpose
corporation
*Wholly owned subsidiary of Texas-New Mexico Power Company
2. Following is a brief description of the properties of claimant and of
its subsidiary public utility company, Texas-New Mexico Power Company (TNP),
used for the generation, transmission, and distribution of electric energy for
sale, indicating the location of principal generating plants, transmission lines
and distribution facilities including all such properties which are outside the
State in which claimant and its subsidiaries are organized, and all transmission
lines which deliver or receive electric energy at the borders of such States:
The claimant owns all of the issued and outstanding common stock, $10.00
par value, of TNP, an electric public utility corporation, the principal
operating subsidiary of claimant. Within Texas, TNP is a regulated public
utility engaged in the generation, transmission, distribution and sale of
electric energy. TNP has two operating regions throughout Texas. The largest
municipalities within Texas served by TNP are Texas City, Lewisville, and La
Marque. The regions located in the State of Texas are as follows:
- North Central Region. Electric transmission and distribution systems
serving 56 communities in northeastern and central Texas. The region
is based at Lewisville, Texas.
- Gulf Coast Region. Electric transmission and distribution systems
serving 14 communities in southeastern Texas. The region is based at
Texas City, Texas.
- Mountain Region. TNP has one region in the southwestern portion of
Texas and in the southern portion of New Mexico which operates
electric transmission and distribution facilities. The largest
municipalities served by TNP are Silver City, Alamogordo, and Ruidoso,
New Mexico. The region serves 6 communities in southwestern Texas and
9 in southern New Mexico. The Mountain region is based at Silver City,
New Mexico.
Generating facilities owned by TNP and the subsidiaries are located within
Robertson County, Texas, which is in the Central part of Texas. The generating
facilities are referred to as 150 MW, circulating fluidized bed units currently
using lignite as the fuel source. TNP also has a transmission line connecting
these units to a major transmission grid in Texas. Electricity from these units
is sold by TNP solely within Texas. Neither the claimant nor any of its
subsidiaries own transmission lines which deliver or receive electricity at the
border of Texas.
Within New Mexico, TNP is a regulated public utility engaged in the
generation, transmission, distribution and sale of electric energy. A portion of
the Mountain Region serves southern New Mexico, as described above.
3. Certain information, for the calendar year 1996 with respect to claimant
and its subsidiaries, is provided in the following chart:
<TABLE>
<CAPTION>
Summary Sheet
Texas (1) New Mexico Total System
----------- ------------ -------------
<S> <C> <C> <C>
Operating Revenues $ 432,605 $ 70,132 $ 502,737
Total Customers 174,154 43,865 218,019
79.9% 20.1% 100.0%
MWH Sold:
Wholesale 3,534 3,534
-
Retail 6,242,949 1,615,541 7,858,490
Total System 6,246,483 1,615,541 7,862,023
MWH Purchased 4,086,446 1,682,727 5,769,173
</TABLE>
4. Neither the claimant nor any of its subsidiaries are directly or
indirectly involved with, or have an interest in either an Exempt Wholesale
Generator or a foreign utility company.
Exhibit A. A consolidating statement of operations of the claimant and its
subsidiary companies for the last calendar year, 1996, together with a
consolidating balance sheet of claimant and its subsidiary companies as of the
close of the 1996 calendar year, is presented.
Exhibit B. A Financial Data Schedule for the period ended December 31,
1996, including Item Nos. 1, 2, and 3.
<PAGE>
The above named claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 25th day of February, 1997.
TNP Enterprises, Inc.
By /s/ M. S. Cheema
----------------
Corporate Seal M. S. Cheema
Vice President and Chief
Attest: Financial Officer
/s/ M. D. Blanchard
- -------------------
M. D. Blanchard
Secretary
The name, title and address of the officer to whom notices and correspondence
concerning this statement should be addressed is:
M. D. Blanchard Secretary
--------------------- -----------------
Name Title
P. O. Box 2943, Fort Worth, Texas 76113
----------------------------------------------
Address
<PAGE>
<TABLE>
<CAPTION>
TNP ENTERPRISES, INC. AND SUBSIDIARIES
CONSOLIDATING STATEMENTS OF INCOME (LOSS)
For the Year Ended December 31, 1996
(Amounts in Thousands)
Texas-New TNP
Mexico Power TNP TNP Facility Enterprises,
Company Operating Enterprises, Works, Consol. Inc.
Consolidated Company Inc. Inc. Entries Consolidated
------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $ 502,737 $ - $ - $ - $ - $ 502,737
------------ -------- -------- --------- -------- -----------
OPERATING EXPENSES:
Purchased power 196,481 196,481
Fuel 47,201 47,201
Other operating and general
expenses 73,276 73,276
Maintenance 10,672 10,672
Depreciation of utility plant 38,170 38,170
Taxes other than income taxes 32,727 32,727
Income taxes 10,333 10,333
------------ -------- -------- --------- -------- -----------
Total Operating Expenses 408,860 - - - - 408,860
------------ -------- -------- --------- -------- -----------
NET OPERATING INCOME 93,877 - - - - 93,877
------------ -------- -------- --------- -------- -----------
OTHER INCOME (LOSS):
Other income and deductions, net 1,626 13 (684) (4,754) (3,799)
Income taxes 722 (4) (37) 1,657 2,338
------------ -------- -------- --------- -------- -----------
Other income (loss), net of
taxes 2,348 9 (721) (3,097) - (1,461)
------------ -------- -------- --------- -------- -----------
INCOME (LOSS) BEFORE
INTEREST CHARGES 96,225 9 (721) (3,097) - 92,416
Interest charges 69,363 69,363
------------ -------- -------- --------- -------- -----------
NET INCOME (LOSS) 26,862 9 (721) (3,097) - 23,053
Dividends on preferred stock 167 167
------------ -------- -------- --------- -------- -----------
INCOME (LOSS) APPLICABLE
TO COMMON STOCK $ 26,695 $ 9 $ (721) $ (3,097) $ - $ 22,886
============ ======== ======== ========= ======== ===========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TNP ENTERPRISES, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
December 31, 1996
(Amounts in Thousands)
Texas-New TNP
Mexico Power TNP TNP Facility Enterprises,
Company Operating Enterprises, Works, Consol. Inc.
Consolidated Company Inc. Inc. Entries Consolidated
-------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
UTILITY PLANT $ 1,216,261 $ - $ - $ - $ - $ 1,216,261
Less: accumulated depreciation 282,322 282,322
------------ -------- -------- ---------- ---------- ------------
Net Utility Plant 933,939 - - - - 933,939
------------ -------- -------- ---------- ---------- ------------
INVESTMENT IN SUBSIDIARY COMPANIES - 285,944 (285,944) -
OTHER PROPERTY AND INVEST., at cost 1,884 1,265 778 3,927
CURRENT ASSETS:
Cash and cash equivalents 5,115 154 2,594 524 8,387
Intercompany accounts receivable 601 3,493 (4,094) -
Other current assets 24,932 180 1,059 26,171
Deferred purchased power and fuel
costs 3,565 3,565
------------ -------- -------- ---------- ---------- ------------
Total current assets 34,213 154 6,267 1,583 (4,094) 38,123
------------ -------- -------- ---------- ---------- ------------
DEFERRED CHARGES 32,121 115 35 (1,476) 30,795
------------ -------- -------- ---------- ---------- ------------
$ 1,002,157 $1,534 $292,246 $2,361 $(291,514) $ 1,006,784
============ ======== ======== ========== ========== ============
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity:
Common stock $ 107 $ 100 $183,771 $ 1 $ (208) $ 183,771
Capital in excess of par value 222,133 400 4,735 (227,268) -
Retained earnings 65,308 992 94,703 (3,097) (63,203) 94,703
------------ -------- -------- ---------- ---------- ------------
Total common shareholder's
equity 287,548 1,492 278,474 1,639 (290,679) 278,474
Redeemable cumulative preferred
stock 3,420 3,420
Long-term debt, less current
maturities 533,800 164 533,964
------------ -------- -------- ---------- ---------- ------------
Total capitalization 824,768 1,492 278,474 1,803 (290,679) 815,858
------------ -------- -------- ---------- ---------- ------------
CURRENT LIABILITIES:
Current maturities of long-term
debt 100 38 138
Accounts payable 27,254 1,192 28,446
Intercompany accounts payable - 2,130 112 (2,242) -
Other current liabilities 41,435 42 2,088 (801) 1,407 44,171
------------ -------- -------- ---------- ---------- ------------
Total current liabilities 68,789 42 4,218 541 (835) 72,755
------------ -------- -------- ---------- ---------- ------------
REGULATORY TAX LIABILITIES 10,963 10,963
ACCUMULATED DEFERRED INCOME TAXES 65,860 8,984 74,844
ACCUMULATED DEFERRED ITC 19,164 570 19,734
DEFERRED CREDITS 12,613 17 12,630
------------ -------- -------- ---------- ---------- ------------
$ 1,002,157 $ 1,534 $292,246 $ 2,361 $(291,514) $ 1,006,784
============ ======== ======== ========== ========== ============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TNP ENTERPRISES, INC. AND SUBSIDIARIES
EXHIBIT B: Financial Data Schedule
For the Period Ending December 31, 1996
(Amounts in Thousands)
<S> <C> <C>
Item No. Caption Heading Amount
- --------------- ------------------------- ----------------
1 Total Assets $ 1,006,784
2 Total Operating Revenues 502,737
3 Net Income (Loss) 23,053
</TABLE>
