|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: SELIGMAN HIGH INCOME FUND SERIES, NSAR-B, 1994-03-01 |
Next: ZWEIG SERIES TRUST, NSAR-A, 1994-03-01 |
File No. 69-302
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U-3A-2/A
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
FPL GROUP, INC.
hereby files with the Securities and Exchange Commission, pursuant
to Rule 2, an amendment to 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:
<PAGE>
EXHIBIT A
A consolidating statement of income and surplus of the Claimant and
its subsidiary companies for the last calendar year, together with
a consolidating balance sheet of Claimant and its subsidiary
companies as of the close of such calendar year.
Company Pages
FPL Group, Inc. and Subsidiaries 3-5
Florida Power & Light Company and Subsidiaries 6-8
FPL Group Capital Inc and Subsidiaries 9-14
ESI Energy, Inc. and Subsidiaries 15-29
Telesat Cablevision, Inc. and Subsidiaries 30-35
Turner Foods Corporation and Subsidiaries 36-41
Alandco Inc. and Subsidiaries 42-44
Palms Insurance Company, Limited and Subsidiary 45-47
Notes to Consolidating Financial Statements 48
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP, INC. AND SUBSIDIARIES 3
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Florida
Power
& Light FPL Group Adjusting & FPL Group,
FPL Group, Company Capital Inc Eliminating Inc.
Inc. Consolidated Consolidated Entries Consolidated
<S> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $14,838,160 $0 $0 $14,838,160
Construction work in progress 0 781,435 0 0 781,435
Other property 0 5,550 255,575 0 261,125
Less accumulated depreciation and amortization 0 5,541,164 50,101 0 5,591,265
Total property, plant and equipment - net 0 10,083,981 205,474 0 10,289,455
INVESTMENTS
Utility special use funds 0 378,774 0 0 378,774
Investments in partnerships and joint ventures 0 0 368,724 0 368,724
Investments in leveraged leases 0 0 155,449 0 155,449
Other 4,312,601 4,340 431,034 (4,665,930) 82,045
Total investments 4,312,601 383,114 955,207 (4,665,930) 984,992
CURRENT ASSETS
Cash and cash equivalents 115,058 7,316 29,640 0 152,014
Customer receivables - net 0 439,473 5,342 0 444,815
Other receivables 4,960 53,255 44,429 (42,862) 59,782
Materials, supplies and fossil fuel stock 0 313,469 16,130 0 329,599
Marketable securities - at market value 171,988 0 0 0 171,988
Recoverable storm costs 0 44,945 0 0 44,945
Other 836 46,532 846 0 48,214
Total current assets 292,842 904,990 96,387 (42,862) 1,251,357
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 302,561 0 0 302,561
Deferred litigation items of FPL 0 110,859 0 0 110,859
Other 34,741 125,837 8,871 (30,661) 138,788
Total deferred debits and other assets 34,741 539,257 8,871 (30,661) 552,208
Total Assets $4,640,184 $11,911,342 $1,265,939 ($4,739,453) $13,078,012
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP, INC. AND SUBSIDIARIES 4
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Florida
Power
& Light FPL Group Adjusting & FPL Group,
FPL Group, Company Capital Inc Eliminating Inc.
Inc. Consolidated Consolidated Entries Consolidated
<S> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDERS' EQUITY
CAPITALIZATION
Common shareholders' equity:
Common stock $1,901 $1,373,069 $1 ($1,373,070) $1,901
Additional paid-in capital 3,589,994 1,741,436 1,256,451 (2,997,887) 3,589,994
Unearned compensation (321,121) 0 0 0 (321,121)
Retained earnings 829,833 864,920 (923,936) 59,016 829,833
Total common shareholders' equity 4,100,607 3,979,425 332,516 (4,311,941) 4,100,607
Preferred stock of FPL
Without sinking fund requirements 0 451,250 0 0 451,250
With sinking fund requirements 0 97,000 0 0 97,000
Long-term debt 0 3,463,065 285,918 0 3,748,983
Total capitalization 4,100,607 7,990,740 618,434 (4,311,941) 8,397,840
CURRENT LIABILITIES
Commercial paper 0 349,600 0 0 349,600
Current maturities of long-term debt and preferred stock 0 1,500 278,179 1 279,680
Accounts payable 403 310,963 14,004 (2,088) 323,282
Customers' deposits 0 215,492 648 0 216,140
Interest accrued 0 94,940 14,267 (1) 109,206
Income and other taxes (10,660) 105,425 115 0 94,880
Deferred clause revenues 0 130,786 0 0 130,786
Other 545,360 229,247 6,392 (445,956) 335,043
Total current liabilities 535,103 1,437,953 313,605 (448,044) 1,838,617
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 0 1,260,587 228,813 22,667 1,512,067
Deferred regulatory credit - income taxes 0 216,546 0 0 216,546
Unamortized investment tax credits 0 323,791 0 0 323,791
Capital lease obligations 0 271,498 0 0 271,498
Other 4,474 410,227 105,087 (2,135) 517,653
Total deferred credits and other liabilities 4,474 2,482,649 333,900 20,532 2,841,555
Total Capitalization and Liabilities $4,640,184 $11,911,342 $1,265,939 ($4,739,453) $13,078,012
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP, INC. AND SUBSIDIARIES 5
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Florida
Power
& Light FPL Group Adjusting & FPL Group,
FPL Group, Company Capital Inc Eliminating Inc.
Inc. Consolidated Consolidated Entries Consolidated
<S> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $5,224,299 $0 $0 $5,224,299
Non-utility 0 0 92,417 (422) 91,995
Total 0 5,224,299 92,417 (422) 5,316,294
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 1,758,298 0 0 1,758,298
Other operations and maintenance of utility plant 0 1,251,284 0 0 1,251,284
Cost reduction program 0 138,000 0 0 138,000
Non-utility operations 191 0 73,896 (3,831) 70,256
Depreciation and amortization 0 586,543 11,847 (1) 598,389
Taxes other than income taxes 55 523,724 2,330 0 526,109
Total operating expenses 246 4,257,849 88,073 (3,832) 4,342,336
Operating Income (246) 966,450 4,344 3,410 973,958
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 5 369,748 40,006 1 409,760
Allowance for funds used during construction 0 (66,238) 0 0 (66,238)
Other-net (435,277) (2,247) (40,403) 429,115 (48,812)
Interest expense and other - net (435,272) 301,263 (397) 429,116 294,710
INCOME TAXES 6,277 239,890 12,377 (8,045) 250,499
NET INCOME (LOSS) 428,749 425,297 (7,636) (417,661) 428,749
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 857,613 917,945 (916,300) (1,645) 857,613
DEDUCT:
Dividends 461,639 472,617 0 (472,617) 461,639
Other (5,110) 5,705 0 (5,705) (5,110)
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $829,833 $864,920 ($923,936) $59,016 $829,833
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES 6
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Florida
Florida Land FPL Adjusting Power
Power Resources FPL Enersys KPB & Elimi- & Light
& Light Investment Enersys, Services, Financial nating Company
Company Company Inc. Inc. Corp. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $14,691,482 $146,678 $0 $0 $0 $0 $14,838,160
Construction work in progress 780,785 650 0 0 0 0 781,435
Other property 5,411 0 1,235 140 0 (1,236) 5,550
Less accumulated depreciation
and amortization 5,512,197 28,967 0 0 0 0 5,541,164
Total property, plant and
equipment - net 9,965,481 118,361 1,235 140 0 (1,236) 10,083,981
INVESTMENTS
Utility special use funds 378,774 0 0 0 0 0 378,774
Investments in partnerships
and joint ventures 0 0 0 0 0 0 0
Investments in leveraged leases 0 0 0 0 0 0 0
Other 144,671 0 0 0 0 (140,331) 4,340
Total investments 523,445 0 0 0 0 (140,331) 383,114
CURRENT ASSETS
Cash and cash equivalents 7,166 0 0 0 150 0 7,316
Customer receivables - net 137,762 0 0 1,711 300,000 0 439,473
Other receivables 353,320 35,446 0 574 0 (336,085) 53,255
Materials, supplies and fossil
fuel stock 313,469 0 0 0 0 0 313,469
Marketable securities - at
market value 0 0 0 0 0 0 0
Recoverable storm costs 44,945 0 0 0 0 0 44,945
Other 46,532 0 0 0 0 0 46,532
Total current assets 903,194 35,446 0 2,285 300,150 (336,085) 904,990
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition
costs of FPL 302,561 0 0 0 0 0 302,561
Deferred litigation items of FPL 110,859 0 0 0 0 0 110,859
Other 125,828 0 0 9 0 0 125,837
Total deferred debits and
other assets 539,248 0 0 9 0 0 539,257
Total Assets $11,931,368 $153,807 $1,235 $2,434 $300,150 ($477,652) $11,911,342
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES 7
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Florida
Florida Land FPL Adjusting Power
Power Resources FPL Enersys KPB & Elimi- & Light
& Light Investment Enersys, Services, Financial nating Company
Company Company Inc. Inc. Corp. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $1,373,069 $0 $0 $0 $0 $0 $1,373,069
Additional paid-in capital 1,741,436 138,975 3,633 3,633 150 (146,391) 1,741,436
Unearned compensation 0 0 0 0 0 0 0
Retained earnings 864,920 0 (2,398) (2,397) (31) 4,826 864,920
Total common shareholder's
equity 3,979,425 138,975 1,235 1,236 119 (141,565) 3,979,425
Preferred stock of FPL
Without sinking fund
requirements 451,250 0 0 0 0 0 451,250
With sinking fund requirements 98,500 0 0 0 0 (1,500) 97,000
Long-term debt 3,463,065 0 0 0 0 0 3,463,065
Total capitalization 7,992,240 138,975 1,235 1,236 119 (143,065) 7,990,740
CURRENT LIABILITIES
Commercial paper 349,600 0 0 0 300,000 (300,000) 349,600
Current maturities of long-term
debt and preferred stock 0 0 0 0 0 1,500 1,500
Accounts payable 310,963 0 0 0 0 0 310,963
Customers' deposits 215,492 0 0 0 0 0 215,492
Interest accrued 94,940 0 0 0 0 0 94,940
Income and other taxes 105,169 350 0 (75) (19) 0 105,425
Deferred clause revenues 130,786 0 0 0 0 0 130,786
Other 265,266 0 0 16 50 (36,085) 229,247
Total current liabilities 1,472,216 350 0 (59) 300,031 (334,585) 1,437,953
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 1,246,191 13,851 0 545 0 0 1,260,587
Deferred regulatory credit -
income taxes 216,546 0 0 0 0 0 216,546
Unamortized investment tax credits 323,160 631 0 0 0 0 323,791
Capital lease obligations 271,498 0 0 0 0 0 271,498
Other 409,517 0 0 712 0 (2) 410,227
Total deferred credits and
other liabilities 2,466,912 14,482 0 1,257 0 (2) 2,482,649
Total Capitalization and
Liabilities $11,931,368 $153,807 $1,235 $2,434 $300,150 ($477,652) $11,911,342
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES 8
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Florida
Florida Land FPL Adjusting Power
Power Resources FPL Enersys KPB & Elimi- & Light
& Light Investment Enersys, Services, Financial nating Company
Company Company Inc. Inc. Corp. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $5,224,299 $6,436 $0 $0 $0 ($6,436) $5,224,299
Non-utility 0 0 0 0 0 0 0
Total 5,224,299 6,436 0 0 0 (6,436) 5,224,299
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and
interchange 1,758,298 0 0 0 0 0 1,758,298
Other operations and
maintenance of utility plant 1,257,742 0 0 (22) 0 (6,436) 1,251,284
Cost reduction program 138,000 0 0 0 0 0 138,000
Non-utility operations 0 0 0 0 0 0 0
Depreciation and amortization 583,828 2,715 0 0 0 0 586,543
Taxes other than income taxes 520,118 3,606 0 0 0 0 523,724
Total operating expenses 4,257,986 6,321 0 (22) 0 (6,436) 4,257,849
Operating Income 966,313 115 0 22 0 0 966,450
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend
requirements 369,748 0 0 0 50 (50) 369,748
Allowance for funds used during
construction (66,362) 124 0 0 0 0 (66,238)
Other-net (2,145) 0 (227) (349) 0 474 (2,247)
Interest expense and other - net 301,241 124 (227) (349) 50 424 301,263
INCOME TAXES 239,775 (9) 0 143 (19) 239,890
NET INCOME (LOSS) 425,297 0 227 228 (31) (424) 425,297
RETAINED EARNINGS (DEFICIT) AT
BEGINNING OF YEAR 917,945 0 (2,625) (2,625) 0 5,250 917,945
DEDUCT:
Dividends 472,617 0 0 0 0 0 472,617
Other 5,705 0 0 0 0 0 5,705
RETAINED EARNINGS (DEFICIT) AT
END OF YEAR $864,920 $0 ($2,398) ($2,397) ($31) $4,826 $864,920
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 9
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Telesat Palms
Cable- Turner Insurance
FPL QualTec vision, Foods Alandco Company,
Group ESI Quality Inc. Corporation Inc. Ltd.
Capital Energy, Inc. Services, Consoli- Consoli- Consoli- Consoli-
Inc Consolidated Inc. dated dated dated dated
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0 0
Construction work in progress 0 0 0 0 0 0 0
Other property (63,018) 22,251 2,865 45,366 171,640 73,169 0
Less accumulated depreciation and
amortization 0 334 1,318 16,583 24,600 4,478 0
Total property, plant and
equipment - net (63,018) 21,917 1,547 28,783 147,040 68,691 0
INVESTMENTS
Utility special use funds 0 0 0 0 0 0 0
Investments in partnerships and joint
ventures (7,977) 367,195 0 10,976 0 4,530 0
Investments in leveraged leases 0 155,449 0 0 0 0 0
Other 999,432 67,181 0 0 70 102 9,692
Total investments 991,455 589,825 0 10,976 70 4,632 9,692
CURRENT ASSETS
Cash and cash equivalents 21,704 (307) 15 6,381 494 (62) 1,406
Customer receivables - net 0 23 1,997 1,419 1,902 0 0
Other receivables 41,155 25,313 1,447 1,372 3,244 2,068 1,561
Materials, supplies and fossil
fuel stock 0 0 289 538 15,303 0 0
Marketable securities - at market value 0 0 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0 0 0
Other 0 0 99 90 535 118 4
Total current assets 62,859 25,029 3,847 9,800 21,478 2,124 2,971
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition
costs of FPL 0 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0 0
Other 4,380 135,684 1,667 3,143 4,355 1,445 814
Total deferred debits and
other assets 4,380 135,684 1,667 3,143 4,355 1,445 814
Total Assets $995,676 $772,455 $7,061 $52,702 $172,943 $76,892 $13,477
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 10
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Adjusting
FPL & Elimi- FPL Group
Holdings nating Capital Inc
Inc. Entries Consolidated
<S> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0
Construction work in progress 0 0 0
Other property 3,302 0 255,575
Less accumulated depreciation and amortization 2,789 (1) 50,101
Total property, plant and equipment - net 513 1 205,474
INVESTMENTS
Utility special use funds 0 0 0
Investments in partnerships and joint ventures 0 (6,000) 368,724
Investments in leveraged leases 0 0 155,449
Other 0 (645,443) 431,034
Total investments 0 (651,443) 955,207
CURRENT ASSETS
Cash and cash equivalents 8 1 29,640
Customer receivables - net 0 1 5,342
Other receivables 1,162 (32,893) 44,429
Materials, supplies and fossil fuel stock 0 0 16,130
Marketable securities - at market value 0 0 0
Recoverable storm costs 0 0 0
Other 0 0 846
Total current assets 1,170 (32,891) 96,387
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0
Deferred litigation items of FPL 0 0 0
Other 94 (142,711) 8,871
Total deferred debits and other assets 94 (142,711) 8,871
Total Assets $1,777 ($827,044) $1,265,939
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 11
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Telesat Palms
Cable- Turner Insurance
FPL QualTec vision, Foods Alandco Company,
Group ESI Quality Inc. Corporation Inc. Ltd.
Capital Energy, Inc. Services, Consoli- Consoli- Consoli- Consoli-
Inc Consolidated Inc. dated dated dated dated
<S> <C> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $1 $0 $0 $0 $23 $0 $200
Additional paid-in capital 1,256,451 372,952 3,967 66,002 127,828 83,287 1,800
Unearned compensation 0 0 0 0 0 0 0
Retained earnings (923,936) 10,413 (2) (28,563) 10,038 (6,798) 2,658
Total common shareholder's equity 332,516 383,365 3,965 37,439 137,889 76,489 4,658
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0 0 0
Long-term debt 277,997 3,521 0 0 4,400 0 0
Total capitalization 610,513 386,886 3,965 37,439 142,289 76,489 4,658
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0 0
Current maturities of long-term
debt and preferred stock 275,000 3,030 0 0 150 0 0
Accounts payable 10,576 438 391 91 1,790 184 534
Customers' deposits 0 0 0 77 571 0 0
Interest accrued 14,197 0 0 0 70 0 0
Income and other taxes 0 0 0 98 0 15 0
Deferred clause revenues 0 0 0 0 0 0 0
Other 4,923 26,137 2,608 5,319 0 144 66
Total current liabilities 304,696 29,605 2,999 5,585 2,581 343 600
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 0 340,652 97 8,549 28,073 60 0
Deferred regulatory credit - income
taxes 0 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0 0
Capital lease obligations 0 0 0 0 0 0 0
Other 80,467 15,312 0 1,129 0 0 8,219
Total deferred credits and
other liabilities 80,467 355,964 97 9,678 28,073 60 8,219
Total Capitalization and Liabilities $995,676 $772,455 $7,061 $52,702 $172,943 $76,892 $13,477
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 12
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Adjusting
FPL & Elimi- FPL Group
Holdings nating Capital Inc
Inc. Entries Consolidated
<S> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 ($223) $1
Additional paid-in capital 2,137 (657,973) 1,256,451
Unearned compensation 0 0 0
Retained earnings (499) 12,753 (923,936)
Total common shareholder's equity 1,638 (645,443) 332,516
Preferred stock of FPL
Without sinking fund requirements 0 0 0
With sinking fund requirements 0 0 0
Long-term debt 0 0 285,918
Total capitalization 1,638 (645,443) 618,434
CURRENT LIABILITIES
Commercial paper 0 0 0
Current maturities of long-term debt and preferred stock 0 (1) 278,179
Accounts payable 0 0 14,004
Customers' deposits 0 0 648
Interest accrued 0 0 14,267
Income and other taxes 1 1 115
Deferred clause revenues 0 0 0
Other 85 (32,890) 6,392
Total current liabilities 86 (32,890) 313,605
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 29 (148,647) 228,813
Deferred regulatory credit - income taxes 0 0 0
Unamortized investment tax credits 0 0 0
Capital lease obligations 0 0 0
Other 24 (64) 105,087
Total deferred credits and other liabilities 53 (148,711) 333,900
Total Capitalization and Liabilities $1,777 ($827,044) $1,265,939
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 13
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Telesat Palms
Cable- Turner Insurance
FPL QualTec vision, Foods Alandco Company,
Group ESI Quality Inc. Corporation Inc. Ltd.
Capital Energy, Inc. Services, Consoli- Consoli- Consoli- Consoli-
Inc Consolidated Inc. dated dated dated dated
<S> <C> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility 0 $0 $0 $0 $0 $0 $0
Non-utility 0 6,919 13,866 12,996 44,039 11,192 3,052
Total 0 6,919 13,866 12,996 44,039 11,192 3,052
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0 0 0
Other operations and maintenance
of utility plant 0 0 0 0 0 0 0
Cost reduction program 0 0 0 0 0 0 0
Non-utility operations 6,478 7,106 10,078 11,615 32,102 3,984 2,516
Depreciation and amortization 377 138 767 3,744 4,459 2,009 0
Taxes other than income taxes 49 137 26 582 0 1,536 0
Total operating expenses 6,904 7,381 10,871 15,941 36,561 7,529 2,516
Operating Income (6,904) (462) 2,995 (2,945) 7,478 3,663 536
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend
requirements 38,744 1,156 0 0 0 106 0
Allowance for funds used during
construction 0 0 0 0 0 0 0
Other-net (9,344) (24,557) 178 (43,459) (327) 3,823 0
Interest expense and other - net 29,400 (23,401) 178 (43,459) (327) 3,929 0
INCOME TAXES (28,668) 12,526 1,019 16,068 2,714 527 80
NET INCOME (LOSS) (7,636) 10,413 1,798 24,446 5,091 (793) 456
RETAINED EARNINGS (DEFICIT) AT BEGINNING
OF YEAR (916,300) 0 2,200 (28,563) 12,947 (6,005) 2,202
DEDUCT:
Dividends 0 0 4,000 24,446 8,000 0 0
Other 0 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END
OF YEAR ($923,936) $10,413 ($2) ($28,563) $10,038 ($6,798) $2,658
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 14
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Adjusting
FPL & Elimi- FPL Group
Holdings nating Capital Inc
Inc. Entries Consolidated
<S> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0
Non-utility 353 0 92,417
Total 353 0 92,417
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0
Other operations and maintenance of utility plant 0 0 0
Cost reduction program 0 0 0
Non-utility operations 15 2 73,896
Depreciation and amortization 353 0 11,847
Taxes other than income taxes 0 0 2,330
Total operating expenses 368 2 88,073
Operating Income (15) (2) 4,344
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 40,006
Allowance for funds used during construction 0 0 0
Other-net 0 33,283 (40,403)
Interest expense and other - net 0 33,283 (397)
INCOME TAXES 66 8,045 12,377
NET INCOME (LOSS) (81) (41,330) (7,636)
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR (418) 17,637 (916,300)
DEDUCT:
Dividends 0 (36,446) 0
Other 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($499) $12,753 ($923,936)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 15
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI Geothermal ESI
CH Inc., and ESI ESI ESI Kern
ESI Ormesa L.P., Geothermal II, Ebensburg, Sierra, Front,
Energy, Inc Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0
Construction work in progress 0 0 0 0 0 0
Other property 900 0 0 0 0 0
Less accumulated depreciation and amortization 334 0 0 0 0 0
Total property, plant and equipment - net 566 0 0 0 0 0
INVESTMENTS
Utility special use funds 0 0 0 0 0 0
Investments in partnerships and joint ventures 3,887 15,279 20,600 14,615 5,679 3,467
Investments in leveraged leases 39,442 0 0 0 0 0
Other 463,399 0 0 0 0 0
Total investments 506,728 15,279 20,600 14,615 5,679 3,467
CURRENT ASSETS
Cash and cash equivalents (162) 0 0 0 0 0
Customer receivables - net 23 0 0 0 0 0
Other receivables (36,063) (427) (7,559) (565) 3,979 8,299
Materials, supplies and fossil fuel stock 0 0 0 0 0 0
Marketable securities - at market value 0 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current assets (36,202) (427) (7,559) (565) 3,979 8,299
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 86,903 0 0 0 0 0
Total deferred debits and other assets 86,903 0 0 0 0 0
Total Assets $557,995 $14,852 $13,041 $14,050 $9,658 $11,766
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 16
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI ESI CH ESI West Hyperion
Double "C", Victory, POSDEF Enfield, ESI Sky IX,
Inc. Inc. L.P.,Inc. Inc. River, Inc Inc.
<S> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0
Construction work in progress 0 0 0 0 0 0
Other property 0 0 0 0 0 0
Less accumulated depreciation and amortization 0 0 0 0 0 0
Total property, plant and equipment - net 0 0 0 0 0 0
INVESTMENTS
Utility special use funds 0 0 0 0 0 0
Investments in partnerships and joint ventures 5,797 5,445 36,722 6,224 10,130 25,651
Investments in leveraged leases 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total investments 5,797 5,445 36,722 6,224 10,130 25,651
CURRENT ASSETS
Cash and cash equivalents 0 0 0 0 0 0
Customer receivables - net 0 0 0 0 0 0
Other receivables 6,715 6,296 (747) 3,022 24,808 31,311
Materials, supplies and fossil fuel stock 0 0 0 0 0 0
Marketable securities - at market value 0 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current assets 6,715 6,296 (747) 3,022 24,808 31,311
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total deferred debits and other assets 0 0 0 0 0 0
Total Assets $12,512 $11,741 $35,975 $9,246 $34,938 $56,962
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 17
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI Alpha ESI ESI
ESI California Joshua Pittsly- Hyperion SEMASS
Brady, Holdings, (Prime), vani VIII, Corp.
Inc. Inc. Inc. Inc. Inc. LP, Inc.
<S> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0
Construction work in progress 0 0 0 0 0 0
Other property 0 0 0 0 0 0
Less accumulated depreciation and
amortization 0 0 0 0 0 0
Total property, plant and equipment - net 0 0 0 0 0 0
INVESTMENTS
Utility special use funds 0 0 0 0 0 0
Investments in partnerships and joint ventures (3,916) 0 0 78,504 16,973 5,430
Investments in leveraged leases 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total investments (3,916) 0 0 78,504 16,973 5,430
CURRENT ASSETS
Cash and cash equivalents 0 0 0 19,898 0 0
Customer receivables - net 0 0 0 0 0 0
Other receivables (3,140) 0 132 0 28,138 18,740
Materials, supplies and fossil fuel stock 0 0 0 0 0 0
Marketable securities - at market value 0 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current assets (3,140) 0 132 19,898 28,138 18,740
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total deferred debits and other assets 0 0 0 0 0 0
Total Assets ($7,056) $0 $132 $98,402 $45,111 $24,170
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 18
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI
Beta Mont-
ESI ESI FPL Willow gomery ESI
Bay Area, Jonesboro, Investments (Prime), ESI URI, County, Vale
Inc. Inc. Inc Inc. Inc. Inc. II
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0 $0
Construction work in progress 0 0 0 0 0 0 0
Other property 0 0 0 0 0 0 0
Less accumulated depreciation and
amortization 0 0 0 0 0 0 0
Total property, plant and equipment - net 0 0 0 0 0 0 0
INVESTMENTS
Utility special use funds 0 0 0 0 0 0 0
Investments in partnerships and
joint ventures 22,556 7,460 0 0 630 30,546 0
Investments in leveraged leases 0 0 116,007 0 0 0 0
Other 0 0 0 0 0 0 1,530
Total investments 22,556 7,460 116,007 0 630 30,546 1,530
CURRENT ASSETS
Cash and cash equivalents 0 0 0 0 0 0 16
Customer receivables - net 0 0 0 0 0 0 0
Other receivables 13,341 2,975 38,193 132 49 23,991 0
Materials, supplies and fossil fuel stock 0 0 0 0 0 0 0
Marketable securities - at market value 0 0 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Total current assets 13,341 2,975 38,193 132 49 23,991 16
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs
of FPL 0 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0 0
Other 0 0 48,781 0 0 0 0
Total deferred debits and other assets 0 0 48,781 0 0 0 0
Total Assets $35,897 $10,435 $202,981 $132 $679 $54,537 $1,546
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 19
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI MES ESI ESI Adjusting & ESI
Australia Financial Antilles Doswell, Eliminating Energy, Inc.
II Inc. Corp LP, Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0
Construction work in progress 0 0 0 0 0 0
Other property 0 0 21,351 0 0 22,251
Less accumulated depreciation and amortization 0 0 0 0 0 334
Total property, plant and equipment - net 0 0 21,351 0 0 21,917
INVESTMENTS
Utility special use funds 0 0 0 0 0 0
Investments in partnerships and joint ventures 5,455 0 0 37,194 12,867 367,195
Investments in leveraged leases 0 0 0 0 0 155,449
Other 0 70,000 0 0 (467,748) 67,181
Total investments 5,455 70,000 0 37,194 (454,881) 589,825
CURRENT ASSETS
Cash and cash equivalents 0 0 0 0 (20,059) (307)
Customer receivables - net 0 0 0 0 0 23
Other receivables 0 148 0 (7,318) (129,137) 25,313
Materials, supplies and fossil fuel stock 0 0 0 0 0 0
Marketable securities - at market value 0 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current assets 0 148 0 (7,318) (149,196) 25,029
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 0 0 0 0 0 135,684
Total deferred debits and other assets 0 0 0 0 0 135,684
Total Assets $5,455 $70,148 $21,351 $29,876 ($604,077) $772,455
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 20
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI Geothermal ESI
CH Inc., and ESI ESI ESI Kern
ESI Ormesa L.P., Geothermal II, Ebensburg, Sierra, Front,
Energy, Inc Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $0 $0 $0 $0 $0
Additional paid-in capital 372,952 12,949 (16,414) 3,200 1,790 5,642
Unearned compensation 0 0 0 0 0 0
Retained earnings (8,251) 1,592 6,843 1,804 3,019 1,835
Total common shareholder's equity 364,701 14,541 (9,571) 5,004 4,809 7,477
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 6,388 0 0
Total capitalization 364,701 14,541 (9,571) 11,392 4,809 7,477
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Current maturities of long-term debt and
preferred stock 0 0 0 0 0 0
Accounts payable 268 0 0 0 0 0
Customers' deposits 0 0 0 0 0 0
Interest accrued 0 0 0 0 0 0
Income and other taxes 0 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 137,396 (35) 35 1,579 5 6
Total current liabilities 137,664 (35) 35 1,579 5 6
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 33,287 346 22,577 1,079 4,844 4,283
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Capital lease obligations 0 0 0 0 0 0
Other 22,343 0 0 0 0 0
Total deferred credits and other liabilities 55,630 346 22,577 1,079 4,844 4,283
Total Capitalization and Liabilities $557,995 $14,852 $13,041 $14,050 $9,658 $11,766
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 21
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI ESI CH ESI West Hyperion
Double "C", Victory, POSDEF Enfield, ESI Sky IX,
Inc. Inc. L.P.,Inc. Inc. River, Inc Inc.
<S> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $0 $0 $0 $0 $0
Additional paid-in capital 5,287 3,919 32,045 1,942 9,994 37,736
Unearned compensation 0 0 0 0 0 0
Retained earnings 1,933 1,992 2,838 2,519 (542) (3,204)
Total common shareholder's equity 7,220 5,911 34,883 4,461 9,452 34,532
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 0 0 0
Total capitalization 7,220 5,911 34,883 4,461 9,452 34,532
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Current maturities of long-term debt and
preferred stock 0 0 0 0 0 0
Accounts payable 0 0 0 0 0 0
Customers' deposits 0 0 0 0 0 0
Interest accrued 0 0 0 0 0 0
Income and other taxes 0 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 4 1 2 13 3 202
Total current liabilities 4 1 2 13 3 202
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 5,288 5,829 1,090 4,772 25,483 22,228
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Capital lease obligations 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total deferred credits and other liabilities 5,288 5,829 1,090 4,772 25,483 22,228
Total Capitalization and Liabilities $12,512 $11,741 $35,975 $9,246 $34,938 $56,962
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 22
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI Alpha ESI ESI
ESI California Joshua Pittsly- Hyperion SEMASS
Brady, Holdings, (Prime), vani VIII, Corp.
Inc. Inc. Inc. Inc. Inc. LP, Inc.
<S> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $0 $0 $0 $0 $0
Additional paid-in capital 0 0 0 28,402 26,296 20,561
Unearned compensation 0 0 0 0 0 0
Retained earnings (3,009) (2) 34 (152) (2,950) (10,221)
Total common shareholder's equity (3,009) (2) 34 28,250 23,346 10,340
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 70,000 0 0
Total capitalization (3,009) (2) 34 98,250 23,346 10,340
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Current maturities of long-term debt and
preferred stock 0 0 0 0 0 0
Accounts payable 0 0 0 0 0 0
Customers' deposits 0 0 0 0 0 0
Interest accrued 0 0 0 0 0 0
Income and other taxes 0 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 49 2 0 152 292 24
Total current liabilities 49 2 0 152 292 24
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes (4,096) 0 98 0 21,473 13,806
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Capital lease obligations 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total deferred credits and other liabilities (4,096) 0 98 0 21,473 13,806
Total Capitalization and Liabilities ($7,056) $0 $132 $98,402 $45,111 $24,170
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 23
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI
Beta Mont-
ESI ESI FPL Willow gomery ESI
Bay Area, Jonesboro, Investments (Prime), ESI URI, County, Vale
Inc. Inc. Inc Inc. Inc. Inc. II
<S> <C> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $0 $1 $0 $0 $0 $0
Additional paid-in capital 21,250 3,165 53,794 0 1,080 12,855 0
Unearned compensation 0 0 0 0 0 0 0
Retained earnings 1,698 2,473 1,323 34 (365) (547) 0
Total common shareholder's equity 22,948 5,638 55,118 34 715 12,308 0
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0 0 0
Long-term debt 0 0 0 0 0 11,766 0
Total capitalization 22,948 5,638 55,118 34 715 24,074 0
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 2,338 0
Current maturities of long-term debt
and preferred stock 0 0 0 0 0 0 0
Accounts payable 0 0 0 0 0 0 0
Customers' deposits 0 0 0 0 0 0 0
Interest accrued 0 0 0 0 0 0 0
Income and other taxes 0 0 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0 0
Other 6 14 5,098 1 135 8,417 1,546
Total current liabilities 6 14 5,098 1 135 10,755 1,546
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 12,943 4,783 142,765 97 (171) 19,708 0
Deferred regulatory credit - income taxes 0 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0 0
Capital lease obligations 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Total deferred credits and other
liabilities 12,943 4,783 142,765 97 (171) 19,708 0
Total Capitalization and Liabilities $35,897 $10,435 $202,981 $132 $679 $54,537 $1,546
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 24
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
ESI MES ESI ESI Adjusting & ESI
Australia Financial Antilles Doswell, Eliminating Energy, Inc.
II Inc. Corp LP, Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $0 $0 $0 ($1) $0
Additional paid-in capital 5,455 70,000 18,113 21,994 (381,055) 372,952
Unearned compensation 0 0 0 0 0 0
Retained earnings 0 148 0 9,719 (148) 10,413
Total common shareholder's equity 5,455 70,148 18,113 31,713 (381,204) 383,365
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 2,750 0 (87,383) 3,521
Total capitalization 5,455 70,148 20,863 31,713 (468,587) 386,886
CURRENT LIABILITIES
Commercial paper 0 0 0 0 (2,338) 0
Current maturities of long-term debt and
preferred stock 0 0 0 0 3,030 3,030
Accounts payable 0 0 331 0 (161) 438
Customers' deposits 0 0 0 0 0 0
Interest accrued 0 0 0 0 0 0
Income and other taxes 0 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 0 0 157 23 (128,990) 26,137
Total current liabilities 0 0 488 23 (128,459) 29,605
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 0 0 0 (1,860) 0 340,652
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Capital lease obligations 0 0 0 0 0 0
Other 0 0 0 0 (7,031) 15,312
Total deferred credits and other liabilities 0 0 0 (1,860) (7,031) 355,964
Total Capitalization and Liabilities $5,455 $70,148 $21,351 $29,876 ($604,077) $772,455
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 25
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
ESI Geothermal ESI
CH Inc., and ESI ESI ESI Kern
ESI Ormesa L.P., Geothermal II, Ebensburg, Sierra, Front,
Energy, Inc Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0 $0 $0
Non-utility 4,332 0 200 0 50 50
Total 4,332 0 200 0 50 50
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0 0
Other operations and maintenance of utility
plant 0 0 0 0 0 0
Cost reduction program 0 0 0 0 0 0
Non-utility operations 6,772 18 34 12 2 2
Depreciation and amortization 138 0 0 0 0 0
Taxes other than income taxes 137 0 0 0 0 0
Total operating expenses 7,047 18 34 12 2 2
Operating Income (2,715) (18) 166 (12) 48 48
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements (1,562) 0 0 488 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net (2,114) (1,595) (2,189) (3,579) (957) (295)
Interest expense and other - net (3,676) (1,595) (2,189) (3,091) (957) (295)
INCOME TAXES 217 505 476 1,275 449 196
NET INCOME (LOSS) 744 1,072 1,879 1,804 556 147
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR (8,995) 520 4,964 0 2,463 1,688
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($8,251) $1,592 $6,843 $1,804 $3,019 $1,835
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 26
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
ESI ESI CH ESI West Hyperion
Double "C", Victory, POSDEF Enfield, ESI Sky IX,
Inc. Inc. L.P.,Inc. Inc. River, Inc Inc.
<S> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0 $0 $0
Non-utility 158 0 80 0 0 0
Total 158 0 80 0 0 0
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0 0
Other operations and maintenance of
utility plant 0 0 0 0 0 0
Cost reduction program 0 0 0 0 0 0
Non-utility operations 2 1 2 4 3 4
Depreciation and amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 2 1 2 4 3 4
Operating Income 156 (1) 78 (4) (3) (4)
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net (380) (1,441) (3,999) (1,816) (4,100) 3,423
Interest expense and other - net (380) (1,441) (3,999) (1,816) (4,100) 3,423
INCOME TAXES 319 755 1,686 818 2,490 (619)
NET INCOME (LOSS) 217 685 2,391 994 1,607 (2,808)
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 1,716 1,307 447 1,525 (2,149) (396)
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $1,933 $1,992 $2,838 $2,519 ($542) ($3,204)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 27
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
ESI Alpha ESI ESI
ESI California Joshua Pittsly- Hyperion SEMASS
Brady, Holdings, (Prime), vani VIII, Corp.
Inc. Inc. Inc. Inc. Inc. LP, Inc.
<S> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0 $0 $0
Non-utility 0 0 0 0 0 83
Total 0 0 0 0 0 83
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0 0
Other operations and maintenance of
utility plant 0 0 0 0 0 0
Cost reduction program 0 0 0 0 0 0
Non-utility operations 10 0 0 4 5 119
Depreciation and amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 10 0 0 4 5 119
Operating Income (10) 0 0 (4) (5) (36)
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 0 148 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net 3,915 0 0 0 3,640 2,426
Interest expense and other - net 3,915 0 0 148 3,640 2,426
INCOME TAXES (956) 0 (7) 0 (770) (797)
NET INCOME (LOSS) (2,969) 0 7 (152) (2,875) (1,665)
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR (40) (2) 27 0 (75) (8,556)
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($3,009) ($2) $34 ($152) ($2,950) ($10,221)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 28
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
ESI
Beta Mont-
ESI ESI FPL Willow gomery ESI
Bay Area, Jonesboro, Investments (Prime), ESI URI, County, Vale
Inc. Inc. Inc Inc. Inc. Inc. II
<S> <C> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0 $0 $0 $0
Non-utility 0 0 1,966 0 0 0 0
Total 0 0 1,966 0 0 0 0
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0 0 0
Other operations and maintenance of
utility plant 0 0 0 0 0 0 0
Cost reduction program 0 0 0 0 0 0 0
Non-utility operations 6 4 58 0 10 12 0
Depreciation and amortization 0 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0 0
Total operating expenses 6 4 58 0 10 12 0
Operating Income (6) (4) 1,908 0 (10) (12) 0
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 995 0 0 1,074 0
Allowance for funds used during construction 0 0 0 0 0 0 0
Other-net (146) (1,796) (1,717) 0 1 (788) 0
Interest expense and other - net (146) (1,796) (722) 0 1 286 0
INCOME TAXES 248 854 1,307 (7) (38) 249 0
NET INCOME (LOSS) (108) 938 1,323 7 27 (547) 0
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF
YEAR 1,806 1,535 0 27 (392) 0 0
DEDUCT:
Dividends 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $1,698 $2,473 $1,323 $34 ($365) ($547) $0
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ESI ENERGY, INC. AND SUBSIDIARIES 29
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
ESI MES ESI ESI Adjusting & ESI
Australia Financial Antilles Doswell, Eliminating Energy, Inc.
II Inc. Corp LP, Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0 $0 $0
Non-utility 0 0 0 0 0 6,919
Total 0 0 0 0 0 6,919
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0 0
Other operations and maintenance of
utility plant 0 0 0 0 0 0
Cost reduction program 0 0 0 0 0 0
Non-utility operations 0 0 0 22 0 7,106
Depreciation and amortization 0 0 0 0 0 138
Taxes other than income taxes 0 0 0 0 0 137
Total operating expenses 0 0 0 22 0 7,381
Operating Income 0 0 0 (22) 0 (462)
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 0 13 0 1,156
Allowance for funds used during construction 0 0 0 0 0 0
Other-net 0 0 0 (11,050) 0 (24,557)
Interest expense and other - net 0 0 0 (11,037) 0 (23,401)
INCOME TAXES 0 0 0 3,876 0 12,526
NET INCOME (LOSS) 0 0 0 7,139 0 10,413
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 0 148 0 2,580 (148) 0
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $0 $148 $0 $9,719 ($148) $10,413
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 30
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Telesat
Telesat Cablevision
Cablevision Cable Cable LP Adjusting & of South
of South LPI, (Pasco), Eliminating Florida, Inc
Florida, Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0
Construction work in progress 0 0 0 0 0
Other property 0 0 0 0 0
Less accumulated depreciation and amortization 0 0 0 0 0
Total property, plant and equipment - net 0 0 0 0 0
INVESTMENTS
Utility special use funds 0 0 0 0 0
Investments in partnerships and joint ventures 10,976 7,509 3,467 (10,976) 10,976
Investments in leveraged leases 0 0 0 0 0
Other 0 0 0 0 0
Total investments 10,976 7,509 3,467 (10,976) 10,976
CURRENT ASSETS
Cash and cash equivalents 216 216 0 (216) 216
Customer receivables - net 0 0 0 0 0
Other receivables 0 0 0 0 0
Materials, supplies and fossil fuel stock 0 0 0 0 0
Marketable securities - at market value 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0
Other 0 0 0 0 0
Total current assets 216 216 0 (216) 216
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0
Other 0 0 0 0 0
Total deferred debits and other assets 0 0 0 0 0
Total Assets $11,192 $7,725 $3,467 ($11,192) $11,192
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 31
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Telesat
Cablevision Telesat
Telesat of South Adjusting & Cablevision
Cablevision Florida, Eliminating Inc.
Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0
Construction work in progress 0 0 0 0
Other property 45,366 0 0 45,366
Less accumulated depreciation and amortization 16,583 0 0 16,583
Total property, plant and equipment - net 28,783 0 0 28,783
INVESTMENTS
Utility special use funds 0 0 0 0
Investments in partnerships and joint ventures 10,976 10,976 (10,976) 10,976
Investments in leveraged leases 0 0 0 0
Other 0 0 0 0
Total investments 10,976 10,976 (10,976) 10,976
CURRENT ASSETS
Cash and cash equivalents 6,381 216 (216) 6,381
Customer receivables - net 1,419 0 0 1,419
Other receivables 1,372 0 0 1,372
Materials, supplies and fossil fuel stock 538 0 0 538
Marketable securities - at market value 0 0 0 0
Recoverable storm costs 0 0 0 0
Other 90 0 0 90
Total current assets 9,800 216 (216) 9,800
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0
Deferred litigation items of FPL 0 0 0 0
Other 3,143 0 0 3,143
Total deferred debits and other assets 3,143 0 0 3,143
Total Assets $52,702 $11,192 ($11,192) $52,702
/TABLE
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 32
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Telesat
Telesat Cablevision
Cablevision Cable Cable LP Adjusting & of South
of South LPI, (Pasco), Eliminating Florida, Inc
Florida, Inc.Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $0 $0 $0 $0
Additional paid-in capital 11,900 8,433 3,467 (11,900) 11,900
Unearned compensation 0 0 0 0 0
Retained earnings (1,022) (1,022) 0 1,022 (1,022)
Total common shareholder's equity 10,878 7,411 3,467 (10,878) 10,878
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0
Long-term debt 0 0 0 0 0
Total capitalization 10,878 7,411 3,467 (10,878) 10,878
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0
Current maturities of long-term debt and preferred stock 0 0 0 0 0
Accounts payable 0 0 0 0 0
Customers' deposits 0 0 0 0 0
Interest accrued 0 0 0 0 0
Income and other taxes 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0
Other 314 314 0 (314) 314
Total current liabilities 314 314 0 (314) 314
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 0 0 0 0 0
Deferred regulatory credit - income taxes 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0
Capital lease obligations 0 0 0 0 0
Other 0 0 0 0 0
Total deferred credits and other liabilities 0 0 0 0 0
Total Capitalization and Liabilities $11,192 $7,725 $3,467 ($11,192) $11,192
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 33
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Telesat
Cablevision Telesat
Telesat of South Adjusting & Cablevision
Cablevision Florida, Eliminating Inc.
Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $0 $0 $0
Additional paid-in capital 66,002 11,900 (11,900) 66,002
Unearned compensation 0 0 0 0
Retained earnings (28,563) (1,022) 1,022 (28,563)
Total common shareholder's equity 37,439 10,878 (10,878) 37,439
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0
With sinking fund requirements 0 0 0 0
Long-term debt 0 0 0 0
Total capitalization 37,439 10,878 (10,878) 37,439
CURRENT LIABILITIES
Commercial paper 0 0 0 0
Current maturities of long-term debt and preferred stock 0 0 0 0
Accounts payable 91 0 0 91
Customers' deposits 77 0 0 77
Interest accrued 0 0 0 0
Income and other taxes 98 0 0 98
Deferred clause revenues 0 0 0 0
Other 5,319 314 (314) 5,319
Total current liabilities 5,585 314 (314) 5,585
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 8,549 0 0 8,549
Deferred regulatory credit - income taxes 0 0 0 0
Unamortized investment tax credits 0 0 0 0
Capital lease obligations 0 0 0 0
Other 1,129 0 0 1,129
Total deferred credits and other liabilities 9,678 0 0 9,678
Total Capitalization and Liabilities $52,702 $11,192 ($11,192) $52,702
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 34
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Telesat
Telesat Cablevision
Cablevision Cable Cable LP Adjusting & of South
of South LPI, (Pasco), Eliminating Florida, Inc
Florida, Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0 $0
Non-utility 0 0 0 0 0
Total 0 0 0 0 0
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0
Other operations and maintenance of utility plant 0 0 0 0 0
Cost reduction program 0 0 0 0 0
Non-utility operations 0 0 0 0 0
Depreciation and amortization 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0
Total operating expenses 0 0 0 0 0
Operating Income 0 0 0 0 0
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0
Other-net (38,845) (38,845) 0 38,845 (38,845)
Interest expense and other - net (38,845) (38,845) 0 38,845 (38,845)
INCOME TAXES 14,984 14,984 0 (14,984) 14,984
NET INCOME (LOSS) 23,861 23,861 0 (23,861) 23,861
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR (1,022) (1,022) 0 1,022 (1,022)
DEDUCT:
Dividends 23,861 23,861 0 (23,861) 23,861
Other 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($1,022) ($1,022) $0 $1,022 ($1,022)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 35
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Telesat
Cablevision Telesat
Telesat of South Adjusting & Cablevision
Cablevision Florida, Eliminating Inc.
Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0
Non-utility 12,996 0 0 12,996
Total 12,996 0 0 12,996
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0
Other operations and maintenance of utility plant 0 0 0 0
Cost reduction program 0 0 0 0
Non-utility operations 11,615 0 0 11,615
Depreciation and amortization 3,744 0 0 3,744
Taxes other than income taxes 582 0 0 582
Total operating expenses 15,941 0 0 15,941
Operating Income (2,945) 0 0 (2,945)
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 0 0
Allowance for funds used during construction 0 0 0 0
Other-net (43,459) (38,845) 38,845 (43,459)
Interest expense and other - net (43,459) (38,845) 38,845 (43,459)
INCOME TAXES 16,068 14,984 (14,984) 16,068
NET INCOME (LOSS) 24,446 23,861 (23,861) 24,446
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR (28,563) (1,022) 1,022 (28,563)
DEDUCT:
Dividends 24,446 23,861 (23,861) 24,446
Other 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($28,563) ($1,022) $1,022 ($28,563)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TURNER FOODS CORPORATION AND SUBSIDIARIES 36
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Agricultural Turner
Turner Avon Citrus Management AMS Aqua-
Foods Turner Nursery, Services Realty, culture,
Corporation Corporation Inc. Company, Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0
Construction work in progress 0 0 0 0 0 0
Other property 107,146 62,668 1,809 0 17 0
Less accumulated depreciation and amortization 12,889 11,153 544 0 14 0
Total property, plant and equipment - net 94,257 51,515 1,265 0 3 0
INVESTMENTS
Utility special use funds 0 0 0 0 0 0
Investments in partnerships and joint ventures 0 0 0 0 0 0
Investments in leveraged leases 0 0 0 0 0 0
Other 0 70 0 0 0 0
Total investments 0 70 0 0 0 0
CURRENT ASSETS
Cash and cash equivalents 480 12 2 0 0 0
Customer receivables - net 1,334 419 27 122 0 0
Other receivables 3,186 21 0 12 13 12
Materials, supplies and fossil fuel stock 9,557 5,425 321 0 0 0
Marketable securities - at market value 0 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0 0
Other 535 0 0 0 0 0
Total current assets 15,092 5,877 350 134 13 12
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 4,011 94 0 36 5 209
Total deferred debits and other assets 4,011 94 0 36 5 209
Total Assets $113,360 $57,556 $1,615 $170 $21 $221
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TURNER FOODS CORPORATION AND SUBSIDIARIES 37
CONSOLIDATING BALANCE
DECEMBER 31, 1993
Thousands of Dollars
Adjusting & Turner Foods
Eliminating Corporation
Entries Consolidated
<S> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0
Construction work in progress 0 0
Other property 0 171,640
Less accumulated depreciation and amortization 0 24,600
Total property, plant and equipment - net 0 147,040
INVESTMENTS
Utility special use funds 0 0
Investments in partnerships and joint ventures 0 0
Investments in leveraged leases 0 0
Other 0 70
Total investments 0 70
CURRENT ASSETS
Cash and cash equivalents 0 494
Customer receivables - net 0 1,902
Other receivables 0 3,244
Materials, supplies and fossil fuel stock 0 15,303
Marketable securities - at market value 0 0
Recoverable storm costs 0 0
Other 0 535
Total current assets 0 21,478
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0
Deferred litigation items of FPL 0 0
Other 0 4,355
Total deferred debits and other assets 0 4,355
Total Assets $0 $172,943
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TURNER FOODS CORPORATION AND SUBSIDIARIES 38
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Agricultural Turner
Turner Avon Citrus Management AMS Aqua-
Foods Turner Nursery, Services Realty, culture,
Corporation Corporation Inc. Company, Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $23 $0 $0 $0 $0
Additional paid-in capital 100,844 22,279 1,184 2,195 (152) 1,478
Unearned compensation 0 0 0 0 0 0
Retained earnings (6,517) 17,997 995 (1,481) 48 (1,004)
Total common shareholder's equity 94,327 40,299 2,179 714 (104) 474
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 4,400 0 0 0 0
Total capitalization 94,327 44,699 2,179 714 (104) 474
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Current maturities of long-term
debt and preferred stock 0 150 0 0 0 0
Accounts payable 1,510 209 35 32 4 0
Customers' deposits 244 288 34 0 5 0
Interest accrued 0 70 0 0 0 0
Income and other taxes 0 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current liabilities 1,754 717 69 32 9 0
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 17,279 12,140 (633) (576) 116 (253)
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Capital lease obligations 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total deferred credits and other liabilities 17,279 12,140 (633) (576) 116 (253)
Total Capitalization and Liabilities $113,360 $57,556 $1,615 $170 $21 $221
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TURNER FOODS CORPORATION AND SUBSIDIARIES 39
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Adjusting & Turner Foods
Eliminating Corporation
Entries Consolidated
<S> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $23
Additional paid-in capital 0 127,828
Unearned compensation 0 0
Retained earnings 0 10,038
Total common shareholder's equity 0 137,889
Preferred stock of FPL
Without sinking fund requirements 0 0
With sinking fund requirements 0 0
Long-term debt 0 4,400
Total capitalization 0 142,289
CURRENT LIABILITIES
Commercial paper 0 0
Current maturities of long-term debt and preferred stock 0 150
Accounts payable 0 1,790
Customers' deposits 0 571
Interest accrued 0 70
Income and other taxes 0 0
Deferred clause revenues 0 0
Other 0 0
Total current liabilities 0 2,581
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 0 28,073
Deferred regulatory credit - income taxes 0 0
Unamortized investment tax credits 0 0
Capital lease obligations 0 0
Other 0 0
Total deferred credits and other liabilities 0 28,073
Total Capitalization and Liabilities $0 $172,943
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TURNER FOODS CORPORATION AND SUBSIDIARIES 40
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Agricultural Turner
Turner Avon Citrus Management AMS Aqua-
Foods Turner Nursery, Services Realty, culture,
Corporation Corporation Inc. Company, Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0 $0 $0
Non-utility 26,350 15,472 1,264 1,096 35 0
Total 26,350 15,472 1,264 1,096 35 0
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0 0
Other operations and maintenance
of utility plant 0 0 0 0 0 0
Cost reduction program 0 0 0 0 0 0
Non-utility operations 19,275 9,780 1,673 1,300 71 3
Depreciation and amortization 2,448 1,848 105 57 1 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 21,723 11,628 1,778 1,357 72 3
Operating Income 4,627 3,844 (514) (261) (37) (3)
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net (40) (88) 0 (1) 0 (20)
Interest expense and other - net (40) (88) 0 (1) 0 (20)
INCOME TAXES 1,614 1,509 (288) (102) (25) 6
NET INCOME (LOSS) 3,053 2,423 (226) (158) (12) 11
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR (1,570) 15,574 1,221 (1,323) 60 (1,015)
DEDUCT:
Dividends 8,000 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($6,517) $17,997 $995 ($1,481) $48 ($1,004)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TURNER FOODS CORPORATION AND SUBSIDIARIES 41
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Adjusting & Turner Foods
Eliminating Corporation
Entries Consolidated
<S> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0
Non-utility (178) 44,039
Total (178) 44,039
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0
Other operations and maintenance of utility plant 0 0
Cost reduction program 0 0
Non-utility operations 0 32,102
Depreciation and amortization 0 4,459
Taxes other than income taxes 0 0
Total operating expenses 0 36,561
Operating Income (178) 7,478
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0
Allowance for funds used during construction 0 0
Other-net (178) (327)
Interest expense and other - net (178) (327)
INCOME TAXES 0 2,714
NET INCOME (LOSS) 0 5,091
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 0 12,947
DEDUCT:
Dividends 0 8,000
Other 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $0 $10,038
/TABLE
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ALANDCO INC. AND SUBSIDIARIES 42
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
TWC Alandco/ Adjusting & Alandco
Alandco, Sixty-Three Cascade, Alandco I, Eliminating Inc.
Inc. Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0
Construction work in progress 0 0 0 0 0 0
Other property 0 0 66,209 6,960 0 73,169
Less accumulated depreciation and amortization 0 0 4,126 352 0 4,478
Total property, plant and equipment - net 0 0 62,083 6,608 0 68,691
INVESTMENTS
Utility special use funds 0 0 0 0 0 0
Investments in partnerships and joint ventures 78,571 0 4,531 1,698 (80,270) 4,530
Investments in leveraged leases 0 0 0 0 0 0
Other 0 0 102 0 0 102
Total investments 78,571 0 4,633 1,698 (80,270) 4,632
CURRENT ASSETS
Cash and cash equivalents (2,609) 0 3,189 (642) 0 (62)
Customer receivables - net 0 0 0 0 0 0
Other receivables 2,257 718 (675) (232) 0 2,068
Materials, supplies and fossil fuel stock 0 0 0 0 0 0
Marketable securities - at market value 0 0 0 0 0 0
Recoverable storm costs 0 0 0 0 0 0
Other 0 17 101 0 0 118
Total current assets (352) 735 2,615 (874) 0 2,124
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 26 (1) 1,415 5 0 1,445
Total deferred debits and other assets 26 (1) 1,415 5 0 1,445
Total Assets $78,245 $734 $70,746 $7,437 ($80,270) $76,892
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ALANDCO INC. AND SUBSIDIARIES 43
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
TWC Alandco/ Adjusting & Alandco
Alandco, Sixty-Three Cascade, Alandco I, Eliminating Inc.
Inc. Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholder's equity:
Common stock $0 $0 $0 $0 $0 $0
Additional paid-in capital 83,287 1,730 79,658 8,127 (89,515) 83,287
Unearned compensation 0 0 0 0 0 0
Retained earnings (6,798) (469) (8,826) 50 9,245 (6,798)
Total common shareholder's equity 76,489 1,261 70,832 8,177 (80,270) 76,489
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0 0 0
With sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 0 0 0
Total capitalization 76,489 1,261 70,832 8,177 (80,270) 76,489
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Current maturities of long-term debt and preferred stock 0 0 0 0 0 0
Accounts payable 0 126 49 9 0 184
Customers' deposits 0 0 0 0 0 0
Interest accrued 0 0 0 0 0 0
Income and other taxes 0 0 15 0 0 15
Deferred clause revenues 0 0 0 0 0 0
Other 0 0 143 1 0 144
Total current liabilities 0 126 207 10 0 343
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 1,756 (653) (293) (750) 0 60
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Capital lease obligations 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total deferred credits and other liabilities 1,756 (653) (293) (750) 0 60
Total Capitalization and Liabilities $78,245 $734 $70,746 $7,437 ($80,270) $76,892
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
ALANDCO INC. AND SUBSIDIARIES 44
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
TWC Alandco/ Adjusting & Alandco
Alandco, Sixty-Three Cascade, Alandco I, Eliminating Inc.
Inc. Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT
OPERATING REVENUES
Utility $0 $0 $0 $0 $0 $0
Non-utility 0 5,357 4,811 1,122 (98) 11,192
Total 0 5,357 4,811 1,122 (98) 11,192
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0 0 0
Other operations and maintenance of utility plant 0 0 0 0 0 0
Cost reduction program 0 0 0 0 0 0
Non-utility operations 0 1,343 2,483 256 (98) 3,984
Depreciation and amortization 0 1,102 771 136 0 2,009
Taxes other than income taxes 0 301 1,147 88 0 1,536
Total operating expenses 0 2,746 4,401 480 (98) 7,529
Operating Income 0 2,611 410 642 0 3,663
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 106 0 0 106
Allowance for funds used during construction 0 0 0 0 0 0
Other-net 791 3,799 24 0 (791) 3,823
Interest expense and other - net 791 3,799 130 0 (791) 3,929
INCOME TAXES 2 (458) 715 268 0 527
NET INCOME (LOSS) (793) (730) (435) 374 791 (793)
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR (6,005) 261 (8,391) (324) 8,454 (6,005)
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($6,798) ($469) ($8,826) $50 $9,245 ($6,798)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
PALMS INSURANCE COMPANY, LIMITED AND SUSIDIARY 45
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Palms
Palms Palmetto Insurance
Insurance Insurance Adjusting & Company,
Company, Company, Eliminating Limited
Limited Limited Entries Consolidated
<S> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0
Construction work in progress 0 0 0 0
Other property 0 0 0 0
Less accumulated depreciation and amortization 0 0 0 0
Total property, plant and equipment - net 0 0 0 0
INVESTMENTS
Utility special use funds 0 0 0 0
Investments in partnerships and joint ventures 0 0 0 0
Investments in leveraged leases 0 0 0 0
Other 7,840 2,577 (725) 9,692
Total investments 7,840 2,577 (725) 9,692
CURRENT ASSETS
Cash and cash equivalents 758 648 0 1,406
Customer receivables - net 0 0 0 0
Other receivables 1,087 1,240 (766) 1,561
Materials, supplies and fossil fuel stock 0 0 0 0
Marketable securities - at market value 0 0 0 0
Recoverable storm costs 0 0 0 0
Other 2 2 0 4
Total current assets 1,847 1,890 (766) 2,971
DEFERRED DEBITS AND OTHER ASSETS
Unamortized debt reacquisition costs of FPL 0 0 0 0
Deferred litigation items of FPL 0 0 0 0
Other 610 204 0 814
Total deferred debits and other assets 610 204 0 814
Total Assets $10,297 $4,671 ($1,491) $13,477
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
PALMS INSURANCE COMPANY, LIMITED AND SUSIDIARY 46
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1993
Thousands of Dollars
Palms
Palms Palmetto Insurance
Insurance Insurance Adjusting & Company,
Company, Company, Eliminating Limited
Limited Limited Entries Consolidated
<S> <C> <C> <C> <C>
LIABILITIES AND STOCKHOLDER'S EQUITY
CAPITALIZATION
Common shareholders' equity:
Common stock $200 $0 $0 $200
Additional paid-in capital 1,800 725 (725) 1,800
Unearned compensation 0 0 0 0
Retained earnings 1,746 912 0 2,658
Total common shareholders' equity 3,746 1,637 (725) 4,658
Preferred stock of FPL
Without sinking fund requirements 0 0 0 0
With sinking fund requirements 0 0 0 0
Long-term debt 0 0 0 0
Total capitalization 3,746 1,637 (725) 4,658
CURRENT LIABILITIES
Commercial paper 0 0 0 0
Current maturities of long-term debt and preferred stock 0 0 0 0
Accounts payable 506 28 0 534
Customers' deposits 0 0 0 0
Interest accrued 0 0 0 0
Income and other taxes 0 0 0 0
Deferred clause revenues 0 0 0 0
Other (3) 69 0 66
Total current liabilities 503 97 0 600
DEFERRED CREDITS AND OTHER LIABILITIES
Accumulated deferred income taxes 0 0 0 0
Deferred regulatory credit - income taxes 0 0 0 0
Unamortized investment tax credits 0 0 0 0
Capital lease obligations 0 0 0 0
Other 6,048 2,937 (766) 8,219
Total deferred credits and other liabilities 6,048 2,937 (766) 8,219
Total Capitalization and Liabilities $10,297 $4,671 ($1,491) $13,477
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
PALMS INSURANCE COMPANY, LIMITED AND SUSIDIARY 47
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars
Palms
Palms Palmetto Insurance
Insurance Insurance Adjusting & Company,
Company, Company, Eliminating Limited
Limited Limited Entries Consolidated
<S> <C> <C> <C> <C>
INCOME STATMENT
OPERATING REVENUES
Utility $0 $0 $0 $0
Non-utility 1,830 247 975 3,052
Total 1,830 247 975 3,052
OPERATING EXPENSES
Utility operations:
Fuel, purchased power and interchange 0 0 0 0
Other operations and maintenance of utility plant 0 0 0 0
Cost reduction program 0 0 0 0
Non-utility operations 1,216 95 1,205 2,516
Depreciation and amortization 0 0 0 0
Taxes other than income taxes 0 0 0 0
Total operating expenses 1,216 95 1,205 2,516
Operating Income 614 152 (230) 536
INTEREST EXPENSE AND OTHER (INCOME) DEDUCTIONS
Interest and preferred dividend requirements 0 0 0 0
Allowance for funds used during construction 0 0 0 0
Other-net 0 0 0 0
Interest expense and other - net 0 0 0 0
INCOME TAXES 38 43 (1) 80
NET INCOME (LOSS) 576 109 (229) 456
RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 1,170 803 229 2,202
DEDUCT:
Dividends 0 0 0 0
Other 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $1,746 $912 $0 $2,658
</TABLE>
<PAGE>
<PAGE>
NOTES TO CONSOLIDATING FINANCIAL STATEMENTS
1. Entities for which Separate Financial Statements are not
Presented
The following subsidiaries of the Claimant have had no
financial activity during the year. Accordingly, financial
information for these companies is not provided.
- ESI LP, Inc.
- ESI WTE Development, Inc.
- Alpha Mariah (Prime), Inc.
- Beta Mariah (Prime), Inc.
- Harper Lake Operations, Inc.
- CH Ormesa, Inc.
- CH POSDEF, Inc.
- ESI Australia III, Inc.
- ESI Australia IV, Inc.
- ESI Australia V, Inc.
- ESI Red Bank LP, Inc.
- River Run Caretaking Service, Inc.
- Cable LP II Inc.
- ESI Antilles, Inc.
- ESI Red Bank, Inc.
- ESI Energy Australia Pty. Limited
- ESI Energy Australia Hunter Valley Pty. Limited
- ESI San Emidio, Inc.
- ESI Vale, Inc.
Separate financial statements are not maintained for the
following subsidiaries due to immateriality.
- Praxis Group, Inc.
- Qualtec Professional Services, Inc.
- Colonial Penn Capital Holdings, Inc.
Separate financial statements are not presented for Bay Loan
and Investment Bank since it has been reclassified to
discontinued operations.
Claimant holds a limited partnership (non-voting) interest in
an entity whose accounts are consolidated for financial
reporting purposes. The assets, liabilities and results of
operations of this entity are included in the financial
statements of FPL Group, Inc. but not presented separately.
2. FPL Group Foundation, Inc.
FPL Group Foundation (the Foundation) is a private foundation
organized as a not for profit corporation to provide for the
centralized evaluation and coordination of charitable
activities of FPL Group, Inc. and its subsidiaries. The
Foundation operates independently of FPL Group, Inc., and
consolidation of its not-for-profit financial statements with
FPL Group, Inc.'s financial statements is not appropriate.
Total assets of the Foundation were approximately $3.6 million
at December 31, 1993.
3. Dissolutions and Names Changes of Subsidiaries
ESI Honduras, Inc. and ESI Equity Investment, Inc. were
dissolved during 1993.
Name changes during 1993:
- ESI Energy Pty. Limited to ESI Energy Australia Hunter Valley
Pty. Limited
- ESI Impedance Inc. to ESI Antilles, Inc.
- ESI Impedance LP, Inc. to ESI Antilles LP, Inc.
- FPL Enersys Services, Inc. to FPL Energy Services Inc.
|
|