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Previous: NUVEEN TAX EXEMPT UNIT TRUST STATE SERIES 156, 497, 1995-02-28 |
Next: NUVEEN TAX EXEMPT UNIT TRUST STATE SERIES 157, 497, 1995-02-28 |
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File No. 69-302
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
To be Filed Annually Prior to March 1
FPL GROUP, INC.
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, and
submits the following information:
Page 1 of 45
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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.
FPL Group, Inc. ("Claimant") is a Florida corporation,
organized in 1984, with its principal executive
offices at 700 Universe Boulevard, Juno Beach,
Florida 33408. Claimant's business is the holding of
all the outstanding capital stock of its
subsidiaries.
The name, jurisdiction of incorporation, location and
nature of business of each subsidiary of Claimant, as
of December 31, 1994 is set forth in Appendix 1
hereto.
2. A brief discussion 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, or for the production,
transmission and distribution of natural or
manufactured gas, indicating the location of principal
generating plants, transmission lines, producing
fields, gas manufacturing plants, and electric and gas
distribution facilities, including all such properties
which are outside the state in which claimant and its
subsidiaries are organized and all transmission or
pipelines which deliver or receive electric energy or
gas at the borders of such state.
Claimant owns no property used in the generation or
production, transmission, or distribution of natural
or manufactured gas or of electric energy for sale.
Claimant's only subsidiary public utility company is
Florida Power & Light Company ("FPL"), a Florida
corporation, which is an electric utility company. A
description of the properties of FPL used for the
generation, transmission, or distribution of electric
energy for sale is set forth in Appendix 2 hereto.
All of these properties are located within the State
of Florida except for Scherer Unit No. 4 which is
located in Georgia.
3. The following information for the last calendar year
with respect to claimant and each of its subsidiary
public utility companies:
(a) Number of kwh of electric energy sold (at
retail or wholesale) or Mcf. of natural or
manufactured gas distributed at retail.
Claimant - None
FPL - 77,095,549,000 kwh
(b) Number of kwh of electric energy and Mcf. of
natural or manufactured gas distributed at
retail outside the state in which each such
company is organized.
Claimant - None
FPL - None
(c) Number of kwh of electric energy and Mcf. of
natural or manufactured gas sold at wholesale
outside the state in which each such company
is organized, or at the state line.
Claimant - None
FPL - 657,370,000 kwh
(d) Number of kwh of electric energy and Mcf. of
natural or manufactured gas purchased outside
the state in which each such company is
organized, or at the state line.
Claimant - None
FPL - 7,096,514,000 kwh
4. The following information for the reporting period
with respect to claimant and each interest it holds
directly or indirectly in an EWG or a foreign utility
company, stating monetary amounts in United States
dollars:
(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.
Claimant's only interest in an EWG is Doswell
Limited Partnership ("Doswell"), the business
address of which is 2112 W. Laburnum Avenue,
Suite 108, Richmond, VA 23227. The facility
is a 663 megawatt gas-fired
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combined cycle plant located in Hanover County,
Virginia, which sells 100% of its power to Virginia
Electric and Power Company.
(b) Name of each system company that holds an
interest in such EWG or foreign utility
company; and description of the interest held.
ESI Doswell, Inc. and ESI LP, Inc. each own a
limited partnership interest in Doswell.
These interests in the aggregate will average
approximately 43% over the life of the
partnership. ESI Doswell, Inc. and ESI LP,
Inc. are wholly-owned subsidiaries of ESI
Energy, Inc., which is a wholly-owned
subsidiary of FPL Group Capital Inc, a
wholly-owned subsidiary of Claimant.
(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.
ESI Doswell, Inc.'s and ESI LP, Inc.'s
combined investment balance in the EWG is
$33,560,000. Claimant and its other system
companies do not directly or indirectly
guarantee any security of Doswell, nor is
there any recourse to Claimant or another
system company for any financial obligations
of Doswell.
(d) Capitalization and earnings of the EWG or
foreign utility company during the reporting
period.
Doswell
Total Partners' Capital = $36,090,744
Total Debt Obligations = $419,500,000
Net Income = $17,747,201
Claimant's Equity in Net Income = $3,825,000
(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).
None
<PAGE>
<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 5-6
Florida Power & Light Company and Subsidiaries 7-8
FPL Group Capital Inc and Subsidiaries 9-12
Alandco Inc. and Subsidiaries 13-14
ESI Energy, Inc. and Subsidiaries 15-26
Palms Insurance Company, Limited and Subsidiary 27-28
Telesat Cablevision, Inc. and Subsidiaries 29-32
Turner Foods Corporation and Subsidiaries 33-36
Notes to Consolidating Financial Statements 37
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<TABLE>
FPL GROUP, INC. AND SUBSIDIARIES 5
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars Florida
<CAPTION> Power FPL Group Adjusting
FPL & Light Capital CAS & FPL Group,
Group, Company Inc Investments, Elim. Inc.
ASSETS Inc. Consolidated Consolidated Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $15,845,996 $0 $0 $0 $15,845,996
Construction work in progress 0 292,645 0 0 0 292,645
Other property 0 10,948 239,944 0 0 250,892
Less accumulated depr. & amort. 0 6,132,488 54,211 0 0 6,186,699
Total property, plant and eqpt. - net 0 10,017,101 185,733 0 0 10,202,834
CURRENT ASSETS
Cash and cash equivalents 52,535 535 32,680 0 0 85,750
Customer receivables - net 0 458,047 6,662 0 0 464,709
Materials, supplies & fossil fuel stock 0 292,601 16,707 0 0 309,308
Other 1,793 81,290 26,753 206 (20,162) 89,880
Total current assets 54,328 832,473 82,802 206 (20,162) 949,647
OTHER ASSETS:
Special use funds of FPL 0 435,117 0 0 0 435,117
Other investments 4,542,501 4,100 816,890 16,430 (4,890,653) 489,268
Unamort. debt reacquisition costs of FPL 0 292,119 0 0 0 292,119
Deferred litigation items of FPL 0 110,859 0 0 0 110,859
Other 8,890 129,683 4,295 0 (5,096) 137,772
Total other assets 4,551,391 971,878 821,185 16,430 (4,895,749) 1,465,135
TOTAL ASSETS $4,605,719 $11,821,452 $1,089,720 $16,636 ($4,915,911) $12,617,616
CAPITALIZATION
Common shareholders' equity $4,197,236 $4,185,586 $339,434 $16,597 ($4,541,618) $4,197,235
Pref. stock without sinking fund requirements 0 451,250 0 0 0 451,250
Pref. stock with sinking fund requirements 0 94,000 0 0 0 94,000
Long-term debt 0 3,581,157 283,308 0 0 3,864,465
Total capitalization 4,197,236 8,311,993 622,742 16,597 (4,541,618) 8,606,950
CURRENT LIABILITIES
Commercial paper 0 25,000 9,979 0 0 34,979
Cur. matur. of long-term debt & pref. stock 0 86,350 763 0 0 87,113
Accounts payable 0 306,616 4,640 0 0 311,256
Customers' deposits 0 220,504 283 0 0 220,787
Accrued interest and taxes 4,111 187,678 9,114 39 (1,125) 199,817
Other 425,552 278,629 11,392 0 (407,877) 307,696
Total current liabilities 429,663 1,104,777 36,171 39 (409,002) 1,161,648
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes (27,713) 1,259,822 352,982 0 40,390 1,625,481
Deferred regulatory credit - income taxes 0 195,906 0 0 0 195,906
Unamortized investment tax credits 0 302,797 0 0 0 302,797
Capital lease obligations 0 185,647 0 0 0 185,647
Other 6,533 460,510 77,825 0 (5,681) 539,187
Total other liabilities & deferred credits (21,180) 2,404,682 430,807 0 34,709 2,849,018
TOTAL CAPITALIZATION AND LIABILITIES $4,605,719 $11,821,452 $1,089,720 $16,636 ($4,915,911) $12,617,616
</TABLE>
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<TABLE>
FPL GROUP, INC. AND SUBSIDIARIES 6
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars Florida
<CAPTION> Power FPL Group Adjusting
FPL & Light Capital CAS & FPL Group,
Group, Company Inc Investments, Elim. Inc.
INCOME STATEMENT Inc. Consolidated Consolidated Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $5,342,656 $80,281 $0 ($278) $5,422,659
OPERATING EXPENSES
Fuel, purchased power & interchange 0 1,715,345 0 0 0 1,715,345
Other operations and maintenance 1,913 1,230,171 72,240 0 (278) 1,304,046
Depreciation & amortization 0 713,352 10,504 0 0 723,856
Taxes other than income taxes 32 529,301 1,637 0 0 530,970
Total operating expenses 1,945 4,188,169 84,381 0 (278) 4,274,217
OPERATING INCOME (1,945) 1,154,487 (4,100) 0 0 1,148,442
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 34,478 331,905 26,620 0 (34,478) 358,525
Allowance for funds used during construction 0 (24,031) 0 0 0 (24,031)
Other-net (537,448) (1,312) (43,299) (112) 570,126 (12,045)
Interest expense and other - net (502,970) 306,562 (16,679) (112) 535,648 322,449
INCOME BEFORE INCOME TAXES 501,025 847,925 12,579 112 (535,648) 825,993
INCOME TAXES (17,686) 319,410 5,520 39 (1) 307,282
NET INCOME (LOSS) 518,711 528,515 7,059 73 (535,647) 518,711
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 829,833 864,920 (923,936) 0 59,016 829,833
DEDUCT:
Dividends 334,751 527,453 0 0 (527,453) 334,751
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $1,013,793 $865,982 ($916,877) $73 $50,822 $1,013,793
</TABLE>
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<TABLE>
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES 7
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars Florida
<CAPTION> Florida Land FPL Adjusting Power
Power Resource FPL Energy KPB & & Light
& Light Investment Enersys Services,Financial Elim. Company
ASSETS Company Company Inc. Inc. Corp. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $15,664,894 $181,102 $0 $0 $0 $0 $15,845,996
Construction work in progress 291,984 661 0 0 0 0 292,645
Other property 10,840 0 0 108 0 0 10,948
Less accumulated depr. & amort. 6,100,311 32,177 0 0 0 0 6,132,488
Total property, plant and eqpt. - net 9,867,407 149,586 0 108 0 0 10,017,101
CURRENT ASSETS
Cash and cash equivalents 519 0 0 0 16 0 535
Customer receivables - net 116,786 0 0 1,216 340,045 0 458,047
Materials, supplies & fossil fuel stock 292,601 0 0 0 0 0 292,601
Other 421,142 38,501 0 669 9,955 (388,977) 81,290
Total current assets 831,048 38,501 0 1,885 350,016 (388,977) 832,473
OTHER ASSETS:
Special use funds of FPL 372,775 0 0 0 62,342 0 435,117
Other investments 240,945 0 796 (146) 0 (237,495) 4,100
Unamort. debt reacquisition costs of FPL 292,119 0 0 0 0 0 292,119
Deferred litigation items of FPL 110,859 0 0 0 0 0 110,859
Other 129,683 0 0 0 0 0 129,683
Total other assets 1,146,381 0 796 (146) 62,342 (237,495) 971,878
TOTAL ASSETS $11,844,836 $188,087 $796 $1,847 $412,358 ($626,472) $11,821,452
CAPITALIZATION
Common shareholders' equity $4,185,587 $173,410 $796 $796 $62,493 ($237,496) $4,185,586
Pref. stock without sinking fund requirements 451,250 0 0 0 0 0 451,250
Pref. stock with sinking fund requirements 94,000 0 0 0 0 0 94,000
Long-term debt 3,581,157 0 0 0 0 0 3,581,157
Total capitalization 8,311,994 173,410 796 796 62,493 (237,496) 8,311,993
CURRENT LIABILITIES
Commercial paper 25,000 0 0 0 350,000 (350,000) 25,000
Cur. matur. of long-term debt & pref. stock 86,350 0 0 0 0 0 86,350
Accounts payable 306,616 0 0 0 0 0 306,616
Customers' deposits 220,504 0 0 0 0 0 220,504
Accrued interest and taxes 188,131 (369) 0 20 (104) 0 187,678
Other 317,469 0 0 0 136 (38,976) 278,629
Total current liabilities 1,144,070 (369) 0 20 350,032 (388,976) 1,104,777
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 1,244,810 14,450 0 562 0 0 1,259,822
Deferred regulatory credit - income taxes 195,906 0 0 0 0 0 195,906
Unamortized investment tax credits 302,201 596 0 0 0 0 302,797
Capital lease obligations 185,647 0 0 0 0 0 185,647
Other 460,208 0 0 469 (167) 0 460,510
Total other liabilities & deferred credits 2,388,772 15,046 0 1,031 (167) 0 2,404,682
TOTAL CAPITALIZATION AND LIABILITIES $11,844,836 $188,087 $796 $1,847 $412,358 ($626,472) $11,821,452
</TABLE>
<PAGE>
<PAGE>
<TABLE>
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES 8
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1993
Thousands of Dollars Florida
<CAPTION> Florida Land FPL Adjusting Power
Power Resource FPL Energy KPB & & Light
& Light Investment Enersys Services,Financial Elim. Company
INCOME STATEMENT Company Company Inc. Inc. Corp. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $5,342,656 $6,644 $0 $0 $0 ($6,644) $5,342,656
OPERATING EXPENSES
Fuel, purchased power & interchange 1,715,345 0 0 0 0 0 1,715,345
Other operations and maintenance 1,236,836 0 0 (21) 0 (6,644) 1,230,171
Depreciation & amortization 710,143 3,209 0 0 0 0 713,352
Taxes other than income taxes 525,799 3,502 0 0 0 0 529,301
Total operating expenses 4,188,123 6,711 0 (21) 0 (6,644) 4,188,169
OPERATING INCOME 1,154,533 (67) 0 21 0 0 1,154,487
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 331,905 0 0 0 236 (236) 331,905
Allowance for funds used during construction (24,031) 0 0 0 0 0 (24,031)
Other-net (1,347) 0 (132) (181) (17) 365 (1,312)
Interest expense and other - net 306,527 0 (132) (181) 219 129 306,562
INCOME BEFORE INCOME TAXES 848,006 (67) 132 202 (219) (129) 847,925
INCOME TAXES 319,491 (67) 0 70 (84) 0 319,410
NET INCOME (LOSS) 528,515 0 132 132 (135) (129) 528,515
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 864,920 0 (2,398) (2,397) (31) 4,826 864,920
DEDUCT:
Dividends 527,453 0 0 0 0 0 527,453
Other 0 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $865,982 $0 ($2,266) ($2,265) ($166) $4,697 $865,982
</TABLE>
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<TABLE>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 9
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars Palms
<CAPTION> FPL ESI Insurance QualTec
Group Alandco Energy, MBR Company, Quality
Capital Inc. Inc. Services, Ltd. Services,
ASSETS Inc ConsolidateConsolidated Inc. Consolidated Inc.
<S> <C> <C> <C> <C> <C> <C>
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 (59,880) 45,874 29,745 54 0 2,833
Less accumulated depr. & amort. 0 3,318 485 11 0 1,618
Total property, plant and eqpt. - net (59,880) 42,556 29,260 43 0 1,215
CURRENT ASSETS
Cash and cash equivalents 30,417 (9) 891 (7) 1,070 15
Customer receivables - net 0 0 876 6 0 1,572
Materials, supplies & fossil fuel stock 0 0 0 0 0 101
Other 5,365 5,638 16,950 142 3,326 1,420
Total current assets 35,782 5,629 18,717 141 4,396 3,108
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 743,301 2,686 453,238 0 8,150 0
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 11,754 178 13 31 790 1,169
Total other assets 755,055 2,864 453,251 31 8,940 1,169
TOTAL ASSETS $730,957 $51,049 $501,228 $215 $13,336 $5,492
CAPITALIZATION
Common shareholders' equity $339,434 $50,606 $175,650 $178 $4,645 $3,467
Pref. stock without sinking fund requirements 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 278,051 0 5,257 0 0 0
Total capitalization 617,485 50,606 180,907 178 4,645 3,467
CURRENT LIABILITIES
Commercial paper 9,979 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 763 0 0 0
Accounts payable 16 156 1,674 0 29 441
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 8,992 6 0 0 0 0
Other 10,040 79 7,749 37 0 1,445
Total current liabilities 29,027 241 10,186 37 29 1,886
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 29,061 202 297,635 0 0 127
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 55,384 0 12,500 0 8,662 12
Total other liabilities & deferred credits 84,445 202 310,135 0 8,662 139
TOTAL CAPITALIZATION AND LIABILITIES $730,957 $51,049 $501,228 $215 $13,336 $5,492
</TABLE>
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<TABLE>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 10
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars Palms
<CAPTION> FPL ESI Insurance QualTec
Group Alandco Energy, MBR Company, Quality
Capital Inc. Inc. Services, Ltd. Services,
INCOME STATEMENT Inc ConsolidateConsolidated Inc. Consolidated Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $3,820 $6,844 $18 $3,679 $10,845
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 2,913 1,985 11,738 299 3,258 7,916
Depreciation & amortization 316 740 188 14 0 767
Taxes other than income taxes 0 875 159 10 0 32
Total operating expenses 3,229 3,600 12,085 323 3,258 8,715
OPERATING INCOME (3,229) 220 (5,241) (305) 421 2,130
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 26,768 0 (148) 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net (38,468) (10,936) (5,013) 0 0 70
Interest expense and other - net (11,700) (10,936) (5,161) 0 0 70
INCOME BEFORE INCOME TAXES 8,471 11,156 (80) (305) 421 2,060
INCOME TAXES 1,412 4,303 (1,160) (117) 293 556
NET INCOME (LOSS) 7,059 6,853 1,080 (188) 128 1,504
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (923,936) (6,798) 10,413 0 2,658 (2)
DEDUCT:
Dividends 0 6,854 11,493 0 0 1,502
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($916,877) ($6,799) $0 ($188) $2,786 $0
</TABLE>
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<TABLE>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 11
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars FPL
<CAPTION> Telesat Turner Adjusting Group
Cablevision, Foods FPL & Capital
Inc. Corporation Holdings Elim. Inc
ASSETS ConsolidatedConsolidate Inc Entries Consolidated
<S> <C> <C> <C> <C> <C>
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 46,278 174,768 272 0 239,944
Less accumulated depr. & amort. 19,552 28,953 272 2 54,211
Total property, plant and eqpt. - net 26,726 145,815 0 (2) 185,733
CURRENT ASSETS
Cash and cash equivalents (236) 530 9 0 32,680
Customer receivables - net 1,488 2,720 0 0 6,662
Materials, supplies & fossil fuel stock 606 16,000 0 0 16,707
Other 401 4,533 244 (11,266) 26,753
Total current assets 2,259 23,783 253 (11,266) 82,802
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0
Other investments 9,694 86 0 (400,265) 816,890
Unamort. debt reacquisition costs of FPL 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0
Other 306 256 29 (10,231) 4,295
Total other assets 10,000 342 29 (410,496) 821,185
TOTAL ASSETS $38,985 $169,940 $282 ($421,764) $1,089,720
CAPITALIZATION
Common shareholders' equity $26,631 $138,908 $178 ($400,263) $339,434
Pref. stock without sinking fund requirements 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0
Long-term debt 0 0 0 0 283,308
Total capitalization 26,631 138,908 178 (400,263) 622,742
CURRENT LIABILITIES
Commercial paper 0 0 0 0 9,979
Cur. matur. of long-term debt & pref. stock 0 0 0 0 763
Accounts payable 171 2,153 0 0 4,640
Customers' deposits 66 217 0 0 283
Accrued interest and taxes 101 15 0 0 9,114
Other 3,307 0 1 (11,266) 11,392
Total current liabilities 3,645 2,385 1 (11,266) 36,171
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 7,516 28,647 29 (10,235) 352,982
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 1,193 0 74 0 77,825
Total other liabilities & deferred credits 8,709 28,647 103 (10,235) 430,807
TOTAL CAPITALIZATION AND LIABILITIES $38,985 $169,940 $282 ($421,764) $1,089,720
</TABLE>
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<TABLE>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 12
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars FPL
<CAPTION> Telesat Turner Adjusting Group
Cablevision, Foods FPL & Capital
Inc. Corporation Holdings Elim. Inc
INCOME STATEMENT ConsolidatedConsolidate Inc Entries Consolidated
<S> <C> <C> <C> <C> <C>
OPERATING REVENUES $13,202 $44,109 $242 ($2,478) $80,281
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0
Other operations and maintenance 12,754 31,367 10 0 72,240
Depreciation & amortization 3,362 4,879 238 0 10,504
Taxes other than income taxes 561 0 0 0 1,637
Total operating expenses 16,677 36,246 248 0 84,381
OPERATING INCOME (3,475) 7,863 (6) (2,478) (4,100)
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0 0 0 26,620
Allowance for funds used during construction 0 0 0 0 0
Other-net 1,117 (325) 276 9,980 (43,299)
Interest expense and other - net 1,117 (325) 276 9,980 (16,679)
INCOME BEFORE INCOME TAXES (4,592) 8,188 (282) (12,458) 12,579
INCOME TAXES (2,828) 3,169 (109) 1 5,520
NET INCOME (LOSS) (1,764) 5,019 (173) (12,459) 7,059
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (28,563) 10,038 (499) 12,753 (923,936)
DEDUCT:
Dividends 0 4,000 0 (23,849) 0
Other 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($30,327) $11,057 ($672) $24,143 ($916,877)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ALANDCO INC. AND SUBSIDIARIES 13
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> TWC Adjusting
Sixty- Alandco/ Alandco & Alandco
Alandco, Three Cascade, I, Elim. Inc.
ASSETS Inc. Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
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 45,874 0 0 45,874
Less accumulated depr. & amort. 0 0 3,318 0 0 3,318
Total property, plant and eqpt. - net 0 0 42,556 0 0 42,556
CURRENT ASSETS
Cash and cash equivalents (30,653) 588 22,237 7,819 0 (9)
Customer receivables - net 0 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Other 4,454 (241) 1,265 160 0 5,638
Total current assets (26,199) 347 23,502 7,979 0 5,629
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 87,562 0 2,686 1,698 (89,260) 2,686
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 0 0 178 0 0 178
Total other assets 87,562 0 2,864 1,698 (89,260) 2,864
TOTAL ASSETS $61,363 $347 $68,922 $9,677 ($89,260) $51,049
CAPITALIZATION
Common shareholders' equity $59,606 $1,256 $68,980 $10,024 ($89,260) $50,606
Pref. stock without sinking fund requirements 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 0 0 0
Total capitalization 59,606 1,256 68,980 10,024 (89,260) 50,606
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 0 0
Accounts payable 0 0 156 0 0 156
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 6 0 0 6
Other 0 0 79 0 0 79
Total current liabilities 0 0 241 0 0 241
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 1,757 (909) (299) (347) 0 202
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 other liabilities & deferred credits 1,757 (909) (299) (347) 0 202
TOTAL CAPITALIZATION AND LIABILITIES $61,363 $347 $68,922 $9,677 ($89,260) $51,049
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ALANDCO INC. AND SUBSIDIARIES 14
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> TWC Adjusting
Sixty- Alandco/ Alandco & Alandco
Alandco, Three Cascade, I, Elim. Inc.
INCOME STATEMENT Inc. Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $0 $3,579 $248 ($7) $3,820
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 0 5 1,924 63 (7) 1,985
Depreciation & amortization 0 0 708 32 0 740
Taxes other than income taxes 0 0 856 19 0 875
Total operating expenses 0 5 3,488 114 (7) 3,600
OPERATING INCOME 0 (5) 91 134 0 220
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net (11,080) 0 3,107 (3,086) 123 (10,936)
Interest expense and other - net (11,080) 0 3,107 (3,086) 123 (10,936)
INCOME BEFORE INCOME TAXES 11,080 (5) (3,016) 3,220 (123) 11,156
INCOME TAXES 4,227 0 (1,164) 1,240 0 4,303
NET INCOME (LOSS) 6,853 (5) (1,852) 1,980 (123) 6,853
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (6,798) (469) (8,826) 50 9,245 (6,798)
DEDUCT:
Dividends 6,854 0 0 0 0 6,854
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($6,799) ($474) ($10,678) $2,030 $9,122 ($6,799)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 15
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> ESI ESI
ESI ESI ESI California ESI Dixie
Energy, Bay Area, Brady, Holdings, Double "C", Valley
ASSETS Inc. Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
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 956 0 0 0 0 0
Less accumulated depr. & amort. 485 0 0 0 0 0
Total property, plant and eqpt. - net 471 0 0 0 0 0
CURRENT ASSETS
Cash and cash equivalents (155) 0 0 767 0 0
Customer receivables - net 0 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Other 33,842 15,765 (2,882) 4,044 6,893 93
Total current assets 33,687 15,765 (2,882) 4,811 6,893 93
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 352,482 25,869 (6,705) 6,733 5,905 8,671
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 13 0 0 0 0 0
Total other assets 352,495 25,869 (6,705) 6,733 5,905 8,671
TOTAL ASSETS $386,653 $41,634 ($9,587) $11,544 $12,798 $8,764
CAPITALIZATION
Common shareholders' equity $175,650 $23,828 ($4,411) $11,540 $7,006 $8,700
Pref. stock without sinking fund requirements 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 0 0 0
Total capitalization 175,650 23,828 (4,411) 11,540 7,006 8,700
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 0 0
Accounts payable 225,100 27 227 2 10 64
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 0 0 0 0
Other 7,725 0 0 0 0 0
Total current liabilities 232,825 27 227 2 10 64
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes (33,306) 17,779 (5,403) 2 5,782 0
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 11,484 0 0 0 0 0
Total other liabilities & deferred credits (21,822) 17,779 (5,403) 2 5,782 0
TOTAL CAPITALIZATION AND LIABILITIES $386,653 $41,634 ($9,587) $11,544 $12,798 $8,764
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 16
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> ESI ESI
ESI ESI ESI California ESI Dixie
Energy, Bay Area, Brady, Holdings, Double "C", Valley
INCOME STATEMENT Inc. Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $2,704 $11 $128 $0 $0 $113
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 9,232 21 178 1 6 65
Depreciation & amortization 188 0 0 0 0 0
Taxes other than income taxes 159 0 0 0 0 0
Total operating expenses 9,579 21 178 1 6 65
OPERATING INCOME (6,875) (10) (50) (1) (6) 48
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements (1,766) 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net (6,048) (4,640) 2,789 (424) (107) 0
Interest expense and other - net (7,814) (4,640) 2,789 (424) (107) 0
INCOME BEFORE INCOME TAXES 939 4,630 (2,839) 423 101 48
INCOME TAXES (19,102) 2,424 (1,437) 151 315 19
NET INCOME (LOSS) 20,041 2,206 (1,402) 272 (214) 29
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (8,251) 1,698 (3,009) (2) 1,933 0
DEDUCT:
Dividends 11,493 0 0 0 0 0
Other 297 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $0 $3,904 ($4,411) $270 $1,719 $29
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 17
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994 ESI
Thousands of Dollars Geothermal
<CAPTION> Inc., and
ESI ESI ESI Hyperion Hyperion ESI
Doswell, Ebensburg, Geothermal VIII, IX, Antilles
ASSETS Inc. Inc. II, Inc. Inc. Inc. LP, Inc.
<S> <C> <C> <C> <C> <C> <C>
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 28,789
Less accumulated depr. & amort. 0 0 0 0 0 0
Total property, plant and eqpt. - net 0 0 0 0 0 28,789
CURRENT ASSETS
Cash and cash equivalents 0 0 0 0 0 121
Customer receivables - net 0 0 0 0 0 876
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Other 571 3,005 (16,010) 30,887 34,870 410
Total current assets 571 3,005 (16,010) 30,887 34,870 1,407
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 33,560 14,702 20,436 13,023 22,078 0
Unamort. 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 other assets 33,560 14,702 20,436 13,023 22,078 0
TOTAL ASSETS $34,131 $17,707 $4,426 $43,910 $56,948 $30,196
CAPITALIZATION
Common shareholders' equity $28,784 $3,660 ($9,575) $22,276 $31,110 $27,302
Pref. stock without sinking fund requirements 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 6,424 0 0 0 1,295
Total capitalization 28,784 10,084 (9,575) 22,276 31,110 28,597
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 0 763
Accounts payable 48 2,066 41 365 269 812
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 0 0 0 0
Other 0 0 0 0 0 24
Total current liabilities 48 2,066 41 365 269 1,599
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 5,299 5,557 13,960 21,269 25,569 0
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 other liabilities & deferred credits 5,299 5,557 13,960 21,269 25,569 0
TOTAL CAPITALIZATION AND LIABILITIES $34,131 $17,707 $4,426 $43,910 $56,948 $30,196
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 18
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994 ESI
Thousands of Dollars Geothermal
<CAPTION> Inc., and
ESI ESI ESI Hyperion Hyperion ESI
Doswell, Ebensburg, Geothermal VIII, IX, Antilles
INCOME STATEMENT Inc. Inc. II, Inc. Inc. Inc. LP, Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $0 $200 $0 $144 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 24 13 6 73 66 1,174
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 24 13 6 73 66 1,174
OPERATING INCOME (24) (13) 194 (73) 78 (1,174)
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 511 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net (3,825) (88) (2,702) 3,951 3,270 0
Interest expense and other - net (3,825) 423 (2,702) 3,951 3,270 0
INCOME BEFORE INCOME TAXES 3,801 (436) 2,896 (4,024) (3,192) (1,174)
INCOME TAXES (730) 908 (2,067) (2,954) (217) (411)
NET INCOME (LOSS) 4,531 (1,344) 4,963 (1,070) (2,975) (763)
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 9,719 1,804 6,843 (2,950) (3,204) 0
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $14,250 $460 $11,806 ($4,020) ($6,179) ($763)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 19
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION>
FPL ESI Alpa Joshua ESI ESI MES
Investments Jonesboro, (Prime), Kern Front, LP, Financial
ASSETS Inc Inc. Inc. Inc. Inc. Corp
<S> <C> <C> <C> <C> <C> <C>
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 depr. & amort. 0 0 0 0 0 0
Total property, plant and eqpt. - net 0 0 0 0 0 0
CURRENT ASSETS
Cash and cash equivalents 0 0 0 0 0 2
Customer receivables - net 0 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Other 51,677 2,682 0 8,223 0 304
Total current assets 51,677 2,682 0 8,223 0 306
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 141,767 7,638 0 3,593 0 31,919
Unamort. 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 other assets 141,767 7,638 0 3,593 0 31,919
TOTAL ASSETS $193,444 $10,320 $0 $11,816 $0 $32,225
CAPITALIZATION
Common shareholders' equity $55,531 $4,372 $0 $7,552 ($3,147) $31,773
Pref. stock without sinking fund requirements 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 0 0 0
Total capitalization 55,531 4,372 0 7,552 (3,147) 31,773
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 0 0
Accounts payable 5,107 27 0 12 0 721
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current liabilities 5,107 27 0 12 0 721
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 132,806 5,921 0 4,252 3,147 (285)
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 16
Total other liabilities & deferred credits 132,806 5,921 0 4,252 3,147 (269)
TOTAL CAPITALIZATION AND LIABILITIES $193,444 $10,320 $0 $11,816 $0 $32,225
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 20
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION>
FPL ESI Alpa Joshua ESI ESI MES
Investments Jonesboro, (Prime), Kern Front, LP, Financial
INCOME STATEMENT Inc Inc. Inc. Inc. Inc. Corp
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $1,206 $0 $0 $50 $0 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 9 14 0 7 0 13
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 9 14 0 7 0 13
OPERATING INCOME 1,197 (14) 0 43 0 (13)
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net 0 (2,291) 0 (128) 0 (1,548)
Interest expense and other - net 0 (2,291) 0 (128) 0 (1,548)
INCOME BEFORE INCOME TAXES 1,197 2,277 0 171 0 1,535
INCOME TAXES 783 1,431 0 96 3,147 537
NET INCOME (LOSS) 414 846 0 75 (3,147) 998
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 1,323 2,473 34 1,835 0 148
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 34 0 0 148
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $1,737 $3,319 $0 $1,910 ($3,147) $998
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 21
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> ESI
Montgomery ESI CH ESI CH ESI
County, Multitrade Ormesa Pittsylvania POSDEF LP, San Emidio,
ASSETS Inc. LP, Inc. LP, Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
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 depr. & amort. 0 0 0 0 0 0
Total property, plant and eqpt. - net 0 0 0 0 0 0
CURRENT ASSETS
Cash and cash equivalents 0 0 0 0 0 0
Customer receivables - net 0 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Other 31,039 (2,740) (277) (518) (1,592) 0
Total current assets 31,039 (2,740) (277) (518) (1,592) 0
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 29,524 495 13,843 13 36,572 0
Unamort. 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 other assets 29,524 495 13,843 13 36,572 0
TOTAL ASSETS $60,563 ($2,245) $13,566 ($505) $34,980 $0
CAPITALIZATION
Common shareholders' equity $4,281 ($1,441) $12,262 ($873) $33,900 ($3)
Pref. stock without sinking fund requirements 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 14,314 0 0 0 0 0
Total capitalization 18,595 (1,441) 12,262 (873) 33,900 (3)
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 0 0
Accounts payable 10,047 51 94 686 39 3
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current liabilities 10,047 51 94 686 39 3
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 31,921 (1,855) 1,210 (318) 1,041 0
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 1,000 0 0 0 0
Total other liabilities & deferred credits 31,921 (855) 1,210 (318) 1,041 0
TOTAL CAPITALIZATION AND LIABILITIES $60,563 ($2,245) $13,566 ($505) $34,980 $0
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 22
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> ESI
Montgomery ESI CH ESI CH ESI
County, Multitrade Ormesa Pittsylvania POSDEF LP, San Emidio,
INCOME STATEMENT Inc. LP, Inc. LP, Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $0 $354 $1,525 $93 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 422 51 129 57 37 3
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 422 51 129 57 37 3
OPERATING INCOME (422) (51) 225 1,468 56 (3)
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 1,255 0 0 (148) 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net 1,185 (8,922) 0 (12) 13 0
Interest expense and other - net 2,440 (8,922) 0 (160) 13 0
INCOME BEFORE INCOME TAXES (2,862) 8,871 225 1,628 43 (3)
INCOME TAXES 5,165 3,462 1,068 524 889 0
NET INCOME (LOSS) (8,027) 5,409 (843) 1,104 (846) (3)
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (547) 0 1,592 (152) 2,838 0
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($8,574) $5,409 $749 $952 $1,992 ($3)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 23
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars ESI
<CAPTION> Virginia
ESI ESI ESI Sky Power ESI Beta Willow
SEMASS Corp. Sierra, River, Services, Victory, (Prime),
ASSETS LP, Inc. Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
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 depr. & amort. 0 0 0 0 0 0
Total property, plant and eqpt. - net 0 0 0 0 0 0
CURRENT ASSETS
Cash and cash equivalents 0 0 0 0 0 0
Customer receivables - net 0 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Other 22,120 4,276 25,634 126 6,176 0
Total current assets 22,120 4,276 25,634 126 6,176 0
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 1,864 5,531 7,778 0 5,531 0
Unamort. 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 other assets 1,864 5,531 7,778 0 5,531 0
TOTAL ASSETS $23,984 $9,807 $33,412 $126 $11,707 $0
CAPITALIZATION
Common shareholders' equity $5,254 $4,573 $6,626 $119 $5,085 $0
Pref. stock without sinking fund requirements 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 0 0 0
Total capitalization 5,254 4,573 6,626 119 5,085 0
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 0 0
Accounts payable 72 12 12 7 10 0
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current liabilities 72 12 12 7 10 0
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 18,658 5,222 26,774 0 6,612 0
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 other liabilities & deferred credits 18,658 5,222 26,774 0 6,612 0
TOTAL CAPITALIZATION AND LIABILITIES $23,984 $9,807 $33,412 $126 $11,707 $0
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 24
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars ESI
<CAPTION> Virginia
ESI ESI ESI Sky Power ESI Beta Willow
SEMASS Corp. Sierra, River, Services, Victory, (Prime),
INCOME STATEMENT LP, Inc. Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $82 $50 $0 $184 $0 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 92 8 10 7 9 0
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 92 8 10 7 9 0
OPERATING INCOME (10) 42 (10) 177 (9) 0
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net 7,387 147 (5,170) 0 (1,580) 0
Interest expense and other - net 7,387 147 (5,170) 0 (1,580) 0
INCOME BEFORE INCOME TAXES (7,397) (105) 5,160 177 1,571 0
INCOME TAXES 1,781 131 465 58 902 0
NET INCOME (LOSS) (9,178) (236) 4,695 119 669 0
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (10,221) 3,019 (542) 0 1,992 34
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 34
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($19,399) $2,783 $4,153 $119 $2,661 $0
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 25
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> Adjusting
ESI West & ESI
ESI URI, Enfield, Elim. Energy, Inc.
ASSETS Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C>
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 29,745
Less accumulated depr. & amort. 0 0 0 485
Total property, plant and eqpt. - net 0 0 0 29,260
CURRENT ASSETS
Cash and cash equivalents 0 0 156 891
Customer receivables - net 0 0 0 876
Materials, supplies & fossil fuel stock 0 0 0 0
Other 0 2,769 (244,437) 16,950
Total current assets 0 2,769 (244,281) 18,717
OTHER ASSETS:
Special use funds of FPL 0 0 0 0
Other investments 0 6,527 (336,111) 453,238
Unamort. debt reacquisition costs of FPL 0 0 0 0
Deferred litigation items of FPL 0 0 0 0
Other 0 0 0 13
Total other assets 0 6,527 (336,111) 453,251
TOTAL ASSETS $0 $9,296 ($580,392) $501,228
CAPITALIZATION
Common shareholders' equity $0 $3,251 ($319,335) $175,650
Pref. stock without sinking fund requirements 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0
Long-term debt 0 0 (16,776) 5,257
Total capitalization 0 3,251 (336,111) 180,907
CURRENT LIABILITIES
Commercial paper 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 763
Accounts payable 0 24 (244,281) 1,674
Customers' deposits 0 0 0 0
Accrued interest and taxes 0 0 0 0
Other 0 0 0 7,749
Total current liabilities 0 24 (244,281) 10,186
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 0 6,021 0 297,635
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 0 0 0 12,500
Total other liabilities & deferred credits 0 6,021 0 310,135
TOTAL CAPITALIZATION AND LIABILITIES $0 $9,296 ($580,392) $501,228
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 26
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> Adjusting
ESI West & ESI
ESI URI, Enfield, Elim. Energy, Inc.
INCOME STATEMENT Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C>
OPERATING REVENUES $0 $0 $0 $6,844
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0
Other operations and maintenance 0 11 0 11,738
Depreciation & amortization 0 0 0 188
Taxes other than income taxes 0 0 0 159
Total operating expenses 0 11 0 12,085
OPERATING INCOME 0 (11) 0 (5,241)
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0 0 (148)
Allowance for funds used during construction 0 0 0 0
Other-net 0 (2,217) 15,947 (5,013)
Interest expense and other - net 0 (2,217) 15,947 (5,161)
INCOME BEFORE INCOME TAXES 0 2,206 (15,947) (80)
INCOME TAXES 0 1,502 0 (1,160)
NET INCOME (LOSS) 0 704 (15,947) 1,080
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (365) 2,519 (148) 10,413
DEDUCT:
Dividends 0 0 0 11,493
Other (365) 0 (148) 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $0 $3,223 ($15,947) $0
</TABLE>
<PAGE>
<PAGE>
<TABLE>
PALMS INSURANCE COMPANY, LIMITED AND SUSIDIARY 27
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars Palms
<CAPTION> Palms Palmetto Adjusting Insurance
Insurance Insurance & Company,
Company, Company, Elim. Limited
ASSETS Limited Limited Entries Consolidated
<S> <C> <C> <C> <C>
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 depr. & amort. 0 0 0 0
Total property, plant and eqpt. - net 0 0 0 0
CURRENT ASSETS
Cash and cash equivalents 489 581 0 1,070
Customer receivables - net 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0
Other 2,551 775 0 3,326
Total current assets 3,040 1,356 0 4,396
OTHER ASSETS:
Special use funds of FPL 0 0 0 0
Other investments 6,552 2,323 (725) 8,150
Unamort. debt reacquisition costs of FPL 0 0 0 0
Deferred litigation items of FPL 0 0 0 0
Other 568 222 0 790
Total other assets 7,120 2,545 (725) 8,940
TOTAL ASSETS $10,160 $3,901 ($725) $13,336
CAPITALIZATION
Common shareholders' equity $3,727 $1,643 ($725) $4,645
Pref. stock without sinking fund requirements 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0
Long-term debt 0 0 0 0
Total capitalization 3,727 1,643 (725) 4,645
CURRENT LIABILITIES
Commercial paper 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0
Accounts payable 20 9 0 29
Customers' deposits 0 0 0 0
Accrued interest and taxes 0 0 0 0
Other 0 0 0 0
Total current liabilities 20 9 0 29
OTHER LIABILITIES AND DEFERRED CREDITS
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 6,413 2,249 0 8,662
Total other liabilities & deferred credits 6,413 2,249 0 8,662
TOTAL CAPITALIZATION AND LIABILITIES $10,160 $3,901 ($725) $13,336
</TABLE>
<PAGE>
<PAGE>
<TABLE>
PALMS INSURANCE COMPANY, LIMITED AND SUSIDIARY 28
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars Palms
<CAPTION> Palms Palmetto Adjusting Insurance
Insurance Insurance & Company,
Company, Company, Elim. Limited
INCOME STATEMENT Limited Limited Entries Consolidated
<S> <C> <C> <C> <C>
OPERATING REVENUES $2,944 $735 $0 $3,679
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0
Other operations and maintenance 2,588 670 0 3,258
Depreciation & amortization 0 0 0 0
Taxes other than income taxes 0 0 0 0
Total operating expenses 2,588 670 0 3,258
OPERATING INCOME 356 65 0 421
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. 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 BEFORE INCOME TAXES 356 65 0 421
INCOME TAXES 279 14 0 293
NET INCOME (LOSS) 77 51 0 128
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 1,746 912 0 2,658
DEDUCT:
Dividends 0 0 0 0
Other 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $1,823 $963 $0 $2,786
</TABLE>
<PAGE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 29
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars Telesat
<CAPTION> Cablevision Adjusting Telesat
Telesat of South & Cablevision
Cablevision Florida, Elim. Inc.
ASSETS Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0
Construction work in progress 0 0 0 0
Other property 46,278 0 0 46,278
Less accumulated depr. & amort. 19,552 0 0 19,552
Total property, plant and eqpt. - net 26,726 0 0 26,726
CURRENT ASSETS
Cash and cash equivalents (236) 0 0 (236)
Customer receivables - net 1,488 0 0 1,488
Materials, supplies & fossil fuel stock 606 0 0 606
Other 401 0 0 401
Total current assets 2,259 0 0 2,259
OTHER ASSETS:
Special use funds of FPL 0 0 0 0
Other investments 9,694 9,694 (9,694) 9,694
Unamort. debt reacquisition costs of FPL 0 0 0 0
Deferred litigation items of FPL 0 0 0 0
Other 306 28 (28) 306
Total other assets 10,000 9,722 (9,722) 10,000
TOTAL ASSETS $38,985 $9,722 ($9,722) $38,985
CAPITALIZATION
Common shareholders' equity $26,631 $9,621 ($9,621) $26,631
Pref. stock without sinking fund requirements 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0
Long-term debt 0 0 0 0
Total capitalization 26,631 9,621 (9,621) 26,631
CURRENT LIABILITIES
Commercial paper 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0
Accounts payable 171 0 0 171
Customers' deposits 66 0 0 66
Accrued interest and taxes 101 101 (101) 101
Other 3,307 0 0 3,307
Total current liabilities 3,645 101 (101) 3,645
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 7,516 0 0 7,516
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 1,193 0 0 1,193
Total other liabilities & deferred credits 8,709 0 0 8,709
TOTAL CAPITALIZATION AND LIABILITIES $38,985 $9,722 ($9,722) $38,985
</TABLE>
<PAGE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 30
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars Telesat
<CAPTION> Cablevision Adjusting Telesat
Telesat of South & Cablevision
Cablevision Florida, Elim. Inc.
INCOME STATEMENT Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C>
OPERATING REVENUES $13,202 $0 $0 $13,202
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0
Other operations and maintenance 12,754 0 0 12,754
Depreciation & amortization 3,362 0 0 3,362
Taxes other than income taxes 561 0 0 561
Total operating expenses 16,677 0 0 16,677
OPERATING INCOME (3,475) 0 0 (3,475)
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0 0 0
Allowance for funds used during construction 0 0 0 0
Other-net 1,089 71 (43) 1,117
Interest expense and other - net 1,089 71 (43) 1,117
INCOME BEFORE INCOME TAXES (4,564) (71) 43 (4,592)
INCOME TAXES (2,800) (28) 0 (2,828)
NET INCOME (LOSS) (1,764) (43) 43 (1,764)
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (28,563) (1,022) 1,022 (28,563)
DEDUCT:
Dividends 0 0 0 0
Other 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($30,327) ($1,065) $1,065 ($30,327)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 31
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994 Telesat
Thousands of Dollars Telesat Cablevision
<CAPTION> Cablevision Cable Adjusting of South
of South Cable LP & Florida,
Florida, LP I, (Pasco), Elim. Inc.
ASSETS Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C>
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 depr. & amort. 0 0 0 0 0
Total property, plant and eqpt. - net 0 0 0 0 0
CURRENT ASSETS
Cash and cash equivalents 0 0 0 0 0
Customer receivables - net 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0
Other 0 0 0 0 0
Total current assets 0 0 0 0 0
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0
Other investments 9,694 6,301 3,393 (9,694) 9,694
Unamort. debt reacquisition costs of FPL 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0
Other 28 28 0 (28) 28
Total other assets 9,722 6,329 3,393 (9,722) 9,722
TOTAL ASSETS $9,722 $6,329 $3,393 ($9,722) $9,722
CAPITALIZATION
Common shareholders' equity $9,621 $6,228 $3,393 ($9,621) $9,621
Pref. stock without sinking fund requirements 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0
Long-term debt 0 0 0 0 0
Total capitalization 9,621 6,228 3,393 (9,621) 9,621
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 0
Accounts payable 0 0 0 0 0
Customers' deposits 0 0 0 0 0
Accrued interest and taxes 101 101 0 (101) 101
Other 0 0 0 0 0
Total current liabilities 101 101 0 (101) 101
OTHER LIABILITIES AND DEFERRED CREDITS
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 other liabilities & deferred credits 0 0 0 0 0
TOTAL CAPITALIZATION AND LIABILITIES $9,722 $6,329 $3,393 ($9,722) $9,722
</TABLE>
<PAGE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 32
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994 Telesat
Thousands of Dollars Telesat Cablevision
<CAPTION> Cablevision Cable Adjusting of South
of South Cable LP & Florida,
Florida, LP I, (Pasco), Elim. Inc.
INCOME STATEMENT Inc. Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $0 $0 $0 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0
Other operations and maintenance 0 0 0 0 0
Depreciation & 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 & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0
Other-net 43 71 0 (43) 71
Interest expense and other - net 43 71 0 (43) 71
INCOME BEFORE INCOME TAXES (43) (71) 0 43 (71)
INCOME TAXES 0 (28) 0 0 (28)
NET INCOME (LOSS) (43) (43) 0 43 (43)
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (1,022) (1,022) 0 1,022 (1,022)
DEDUCT:
Dividends 0 0 0 0 0
Other 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($1,065) ($1,065) $0 $1,065 ($1,065)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
TURNER FOODS CORPORATION AND SUBSIDIARIES 33
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars Agricultural
<CAPTION> Avon Management
Turner Citrus Services AMS Turner
Foods Turner Nursery, Company Realty, Aquaculture,
ASSETS Corporation Corporation Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
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 109,263 63,662 1,828 0 15 0
Less accumulated depr. & amort. 15,562 12,895 483 0 13 0
Total property, plant and eqpt. - net 93,701 50,767 1,345 0 2 0
CURRENT ASSETS
Cash and cash equivalents 527 1 1 0 1 0
Customer receivables - net 1,980 550 31 20 136 3
Materials, supplies & fossil fuel stock 10,501 5,325 174 0 0 0
Other 4,493 19 0 12 0 9
Total current assets 17,501 5,895 206 32 137 12
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 17,772 86 0 0 0 0
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Deferred litigation items of FPL 0 0 0 0 0 0
Other 16 16 0 24 0 200
Total other assets 17,788 102 0 24 0 200
TOTAL ASSETS $128,990 $56,764 $1,551 $56 $139 $212
CAPITALIZATION
Common shareholders' equity $110,098 $43,679 $2,137 $591 ($103) $278
Pref. stock without sinking fund requirements 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 0 0 0 0
Total capitalization 110,098 43,679 2,137 591 (103) 278
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 0 0
Accounts payable 1,814 308 31 0 0 0
Customers' deposits 56 24 2 0 135 0
Accrued interest and taxes 15 0 0 0 0 0
Other 0 0 0 0 0 0
Total current liabilities 1,885 332 33 0 135 0
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 17,007 12,753 (619) (535) 107 (66)
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 other liabilities & deferred credits 17,007 12,753 (619) (535) 107 (66)
TOTAL CAPITALIZATION AND LIABILITIES $128,990 $56,764 $1,551 $56 $139 $212
</TABLE>
<PAGE>
<PAGE>
<TABLE>
TURNER FOODS CORPORATION AND SUBSIDIARIES 34
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars Agricultural
<CAPTION> Avon Management
Turner Citrus Services AMS Turner
Foods Turner Nursery, Company Realty, Aquaculture,
INCOME STATEMENT Corporation Corporation Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $27,662 $15,890 $343 $72 $142 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 19,264 11,400 555 2 146 0
Depreciation & amortization 3,073 1,716 89 0 1 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 22,337 13,116 644 2 147 0
OPERATING INCOME 5,325 2,774 (301) 70 (5) 0
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0 0 0 0 0
Allowance for funds used during construction 0 0 0 0 0 0
Other-net (18,153) (8) 89 (6) 0 (19)
Interest expense and other - net (18,153) (8) 89 (6) 0 (19)
INCOME BEFORE INCOME TAXES 23,478 2,782 (390) 76 (5) 19
INCOME TAXES 1,904 1,196 32 30 0 7
NET INCOME (LOSS) 21,574 1,586 (422) 46 (5) 12
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (6,517) 17,997 995 (1,481) 48 (1,004)
DEDUCT:
Dividends 4,000 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $11,057 $19,583 $573 ($1,435) $43 ($992)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
TURNER FOODS CORPORATION AND SUBSIDIARIES 35
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> Adjusting Turner
& Foods
Elim. Corporation
ASSETS Entries Consolidated
<S> <C> <C>
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0
Construction work in progress 0 0
Other property 0 174,768
Less accumulated depr. & amort. 0 28,953
Total property, plant and eqpt. - net 0 145,815
CURRENT ASSETS
Cash and cash equivalents 0 530
Customer receivables - net 0 2,720
Materials, supplies & fossil fuel stock 0 16,000
Other 0 4,533
Total current assets 0 23,783
OTHER ASSETS:
Special use funds of FPL 0 0
Other investments (17,772) 86
Unamort. debt reacquisition costs of FPL 0 0
Deferred litigation items of FPL 0 0
Other 0 256
Total other assets (17,772) 342
TOTAL ASSETS ($17,772) $169,940
CAPITALIZATION
Common shareholders' equity ($17,772) $138,908
Pref. stock without sinking fund requirements 0 0
Pref. stock with sinking fund requirements 0 0
Long-term debt 0 0
Total capitalization (17,772) 138,908
CURRENT LIABILITIES
Commercial paper 0 0
Cur. matur. of long-term debt & pref. stock 0 0
Accounts payable 0 2,153
Customers' deposits 0 217
Accrued interest and taxes 0 15
Other 0 0
Total current liabilities 0 2,385
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 0 28,647
Deferred regulatory credit - income taxes 0 0
Unamortized investment tax credits 0 0
Capital lease obligations 0 0
Other 0 0
Total other liabilities & deferred credits 0 28,647
TOTAL CAPITALIZATION AND LIABILITIES ($17,772) $169,940
</TABLE>
<PAGE>
<PAGE>
<TABLE>
TURNER FOODS CORPORATION AND SUBSIDIARIES 36
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1994
Thousands of Dollars
<CAPTION> Adjusting Turner
& Foods
Elim. Corporation
INCOME STATEMENT Entries Consolidated
<S> <C> <C>
OPERATING REVENUES $0 $44,109
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0
Other operations and maintenance 0 31,367
Depreciation & amortization 0 4,879
Taxes other than income taxes 0 0
Total operating expenses 0 36,246
OPERATING INCOME 0 7,863
INTEREST EXPENSE & OTHER (INCOME) DEDUCTIONS
Interest exp. and pref. dividend requirements 0 0
Allowance for funds used during construction 0 0
Other-net 17,772 (325)
Interest expense and other - net 17,772 (325)
INCOME BEFORE INCOME TAXES (17,772) 8,188
INCOME TAXES 0 3,169
NET INCOME (LOSS) (17,772) 5,019
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 0 10,038
DEDUCT:
Dividends 0 4,000
Other 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($17,772) $11,057
</TABLE>
<PAGE>
<PAGE>
FPL GROUP, INC. AND SUBSIDIARIES
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.
- Alpha Mariah (Prime), Inc.
- Beta Mariah (Prime), Inc.
- ESI Antilles, Inc.
- ESI Australia II, Inc.
- ESI Energy Australia Pty. Limited
- ESI Energy Australia Hunter Valley Pty. Limited
- CH Ormesa, Inc.
- CH POSDEF, Inc.
- ESI Dixie Valley LP, Inc.
- ESI Dominican Republic, Inc.
- ESI Operating Services, Inc.
- ESI WTE Development, Inc.
- Harper Lake Operations, Inc.
- Cable LP II Inc.
- River Run Caretaking Service, Inc.
Separate financial statements are not maintained for the
following subsidiaries due to immateriality.
- Colonial Penn Capital Holdings, Inc.
- Praxis Group, Inc.
- Qualtec Professional Services, Inc.
Separate financial statements are not presented for Bay
Loan and Investment Bank since it has been reclassified to
discontinued operations.
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 $3.7 million at December 31, 1994.
3. Dissolutions of Subsidiaries
ESI Australia III, Inc., ESI Australia IV, Inc., ESI Australia V,
Inc., ESI Wood Services, Inc., ESI Red Bank, Inc., ESI Red
Bank LP, Inc., ESI Vale, Inc. and ESI Vale II, Inc. were
dissolved in 1994.
<PAGE>
<PAGE>
Claimant has caused this statement to be duly executed on its behalf by
its authorized officer this 27th day of February, 1995.
FPL Group, Inc.
By: M. W. YACKIRA
M. W. Yackira
Vice President, Finance and Chief
Financial Officer
(Corporate Seal)
Attest:
D. P. COYLE
D. P. Coyle, General Counsel and Secretary
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
M. W. Yackira
Vice President, Finance and Chief Financial Officer
FPL Group, Inc.
700 Universe Boulevard
Juno Beach, FL 33408
<PAGE>
<PAGE>
EXHIBIT B
The Financial Data Schedule is included as Exhibit 27 at the conclusion
of this document.
<PAGE>
<PAGE>
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding-company system.
FPL Group, Inc. (Claimant)
* FPL Group Capital Inc
** ESI Energy, Inc.
*** ESI Doswell, Inc.
*** ESI LP, Inc.
ESI Doswell, Inc. and ESI LP, Inc. each own a limited partnership
interest in Doswell Limited Partnership (Doswell LP), an EWG. These
interests in the aggregate will average approximately 43% over the life of
the partnership. Because such partnership interests due not constitute
voting securities of Doswell LP, Doswell LP is not a subsidiary of
Claimant. Accordingly, no financial statements of Doswell LP are
required herewith.
<PAGE>
<PAGE>
APPENDIX 1
SUBSIDIARIES OF FPL GROUP, INC.
<TABLE>
<CAPTION>
Jurisdiction
Incor- of
Name poration Location Nature of Business
<S> <C> <C> <C>
FLORIDA POWER & LIGHT COMPANY Florida Juno Beach, FL Operates as an electric utility company.
*FPL Enersys, Inc. Florida Miami, FL Holds the stock of a subsidiary which was
formed to provide ongoing services to
implement energy programs.
**FPL Energy Services, Inc. Florida Miami, FL Formed to provide ongoing services to
implement energy programs.
*KPB Financial Corp. Delaware Wilmington, DE Manages intangible assets.
*Land Resources Investment Co. Florida Juno Beach, FL Holds real property used or to be used by FPL.
FPL GROUP CAPITAL INC Florida Juno Beach, FL Holds the capital stock of and provides the
funding for the operating companies other than
FPL.
*Alandco Inc. Florida North Palm Beach, Engages in the investment in and development
FL of real estate.
**Alandco I, Inc. Florida North Palm Beach, Engages in the investment in and development
FL of real estate.
**Alandco/Cascade, Inc. Florida North Palm Beach, Engages in the investment in and development
FL of real estate.
**TWC Sixty-Three, Inc. Florida North Palm Beach, Engages in the investment in and development
FL of real estate.
*ESI Energy, Inc. Florida West Palm Beach, FL Holds the stock of subsidiaries participating
in energy production projects and leveraged
leases.
**Alpha Joshua (Prime), Inc. California San Francisco, CA Participates in a transmission line.
**Alpha Mariah (Prime), Inc. California San Francisco, CA Participates in a transmission line.
**Beta Mariah (Prime), Inc. California San Francisco, CA Participates in a transmission line.
**Beta Willow (Prime), Inc. California San Francisco, CA Participates in a transmission line.
**ESI Antilles, Inc. Florida West Palm Beach, FL Participates in a floating barge power plant
project.
**ESI Antilles LP, Inc. Florida West Palm Beach, FL Participates in a floating barge power plant
project.
**ESI Australia II, Inc. Delaware West Palm Beach, FL Formed to develop coal waste-to-energy
projects.
***ESI Energy Australia Australia West Palm Beach, FL Formed to develop coal waste-to-energy
Pty. Limited projects.
****ESI Energy Australia Australia West Palm Beach, FL Formed to develop coal waste-to-energy
Hunter Valley Pty. projects.
Limited
**ESI Bay Area, Inc. Florida West Palm Beach, FL Participates in a wind-powered electric
generating project.
**ESI Brady, Inc. Florida West Palm Beach, FL Participates in a geothermal project.
**ESI California Holdings, Inc. California San Francisco, CA Holds the stock of subsidiaries
participating in energy projects.
<PAGE>
<PAGE>
***CH Ormesa, Inc. Florida West Palm Beach, FL Participates in a geothermal project.
***CH Ormesa LP, Inc. Florida West Palm Beach, FL Participates in a geothermal project.
***CH POSDEF, Inc. Florida West Palm Beach, FL Participates in a coal project.
***CH POSDEF LP, Inc. Florida West Palm Beach, FL Participates in a coal project.
***ESI Sky River, Inc. Florida West Palm Beach, FL Participates in an electric generating project.
**ESI Dixie Valley, Inc. Florida West Palm Beach, FL Participates in a geothermal project.
**ESI Dixie Valley LP,Inc. Florida West Palm Beach, FL Participates in a geothermal project.
**ESI Dominican Republic, Inc. Florida West Palm Beach, FL Participates in a fossil-fuel fixed project.
**ESI Doswell, Inc. Florida West Palm Beach, FL Participates in a natural gas project.
**ESI Double "C", Inc. Florida West Palm Beach, FL Participates in a natural gas project.
**ESI Ebensburg, Inc. Florida West Palm Beach, FL Participates in a waste-to-energy project.
**ESI Geothermal Inc. Florida West Palm Beach, FL Participates in a geothermal project.
**ESI Geothermal II Inc. Florida West Palm Beach, FL Participates in a geothermal project.
**ESI Jonesboro, Inc. Florida West Palm Beach, FL Participates in a wood burning electric
generating project.
**ESI Kern Front, Inc. Florida West Palm Beach, FL Participates in a natural gas project.
**ESI LP, Inc. Florida West Palm Beach, FL Formed to invest in partnerships.
**ESI Montgomery County, Inc. Florida West Palm Beach, FL Participates in a waste-to-energy project.
**ESI Multitrade LP, Inc. Florida West Palm Beach, FL Owns a limited partner ownership interest
in a wood-fired electric generating project.
**ESI Operating Services, Inc. Florida West Palm Beach, FL Provides operating and maintenance services
and full procurement for projects.
***ESI Virginia Power Florida West Palm Beach, FL Performs operating and maintenance services at
Services, Inc. projects.
**ESI Pittsylvania, Inc. Florida West Palm Beach, FL Participates in a wood-burning electric
generating project.
**ESI San Emidio, Inc. Florida West Palm Beach, FL Participates in the development of a geothermal
project.
**ESI SEMASS Corp. LP, Inc. Florida West Palm Beach, FL Participates in a waste-to-energy project.
**ESI Sierra, Inc. Florida West Palm Beach, FL Participates in a natural gas project.
**ESI URI, Inc. Florida West Palm Beach, FL Participates in the development of a natural
gas project.
**ESI Victory, Inc. Florida West Palm Beach, FL Participates in a project to generate electric
energy through the use of wind-powered
turbines.
**ESI West Enfield, Inc. Florida West Palm Beach, FL Participates in a wood burning electric
generating project.
**ESI WTE Development, Inc. Florida West Palm Beach, FL Participates in a waste-to-energy project.
**FPL Investments Inc Florida West Palm Beach, FL Manages a leveraged lease portfolio.
**Harper Lake Operations, Inc. California San Francisco, CA Formed to operate a solar electric generating
system.
<PAGE>
<PAGE>
**Hyperion VIII, Inc. Florida West Palm Beach, FL Participates in a solar electric generating
system.
**Hyperion IX, Inc. Florida West Palm Beach, FL Participates in a solar electric
generating system.
**MES Financial Corp. Delaware Wilmington, DE Formed to hold bonds and loans
receivable.
*FPL Holdings Inc Florida Juno Beach, FL Purchases, owns, leases, and maintains the
fixed assets of FPL Group, Inc.
**Colonial Penn Capital Delaware Philadelphia, PA Holds the stock of Bay Loan and Investment
Holdings, Inc. Bank.
***Bay Loan and Investment Rhode Providence, RI Engages in commercial and consumer lending
Bank Island and the acceptance of time deposits. Bay Loan
was reclassified to discontinued operations in
1991; therefore no financial statements are
presented.
*MBR Services, Inc. Florida Juno Beach, FL Performs out-sourced meter reading, billing and
remittance processing services to other utilities.
*Palms Insurance Company, Cayman Cayman Operates as a captive insurance company
Limited Islands Islands primarily engaged in reinsuring liability
British British West insurance coverage for FPL Group, Inc.
West Indies and its subsidiaries.
Indies
**Palmetto Insurance Cayman Cayman Operates as a captive insurance company
Company, Limited Islands Islands primarily engaged in reinsuring liability
British British West insurance coverage for FPL Group, Inc.
West Indies and its subsidiaries.
Indies
*Praxis Group, Inc. Delaware Miami, FL Holds certain assets and liabilities, but no
longer actively in business.
*QualTec Professional Florida Palm Beach Holds the remaining assets and liabilities
Services, Inc. Gardens, FL of the divisions of QualTec to be discontinued.
*QualTec Quality Services, Inc. Florida North Palm Beach, Provides training and consulting services in
FL Total Quality Management to a variety of
industries, both commercial and Governmental.
*Telesat Cablevision, Inc. Florida Pompano Beach, FL Provides cable television service in Florida.
**Telesat Cablevision of Florida Pompano Beach, FL Holds the stock of subsidiaries involved
South Florida, Inc. in cable partnerships.
***Cable LP I, Inc. Florida Pompano Beach, FL Owns limited partnership interests in three
cable television joint ventures.
***Cable LP II, Inc. Florida Pompano Beach, FL Currently inactive.
***Cable LP (Pasco), Inc. Florida Pompano Beach, FL Owns a limited partnership interest in a
cable television joint venture.
*Turner Foods Corporation Florida Punta Gorda, FL Holds the stock of subsidiaries which own and
operate an agricultural real estate brokerage
business, citrus groves and citrus nurseries
in Florida.
**Agriculture Management Florida Punta Gorda, FL Provides management services to citrus grove
Services Company, Inc. operators.
***AMS Realty, Inc. Florida Punta Gorda, FL Operates an agricultural real estate brokerage
business.
<PAGE>
<PAGE>
***River Run Caretaking Florida Punta Gorda, FL Operates as a corporation formed to manage
Service, Inc. groves for third parties.
***Turner Aquaculture, Inc. Florida Punta Gorda, FL The physical assets of the company were sold
during 1992. The company now holds a mortgage
receivable secured by these assets.
**Avon Citrus Nursery, Inc. Florida Avon Park, FL Operates citrus nurseries and citrus groves.
**Turner Corporation Florida Immokalee, FL Operates citrus groves.
CAS INVESTMENTS, INC. Delaware Wilmington, DE Owns mortgaged backed securities and treasury
securities.
</TABLE>
<PAGE>
<PAGE>
APPENDIX 2
PROPERTIES OF FLORIDA POWER & LIGHT COMPANY
Generating Facilities. FPL has improved its ability to operate
generating units at peak output levels, which effectively added
approximately 570 mw to system capacity in 1994. As of December 31,
1994, FPL had the following generating facilities:
<TABLE>
<CAPTION>
Net Warm Weather
No. of Peaking
Facility Location Units Fuel Capability (mw)
<S> <C> <C> <C> <C>
STEAM TURBINES
Cape Canaveral ................................. Cocoa, FL 2 Oil/Gas 810
Cutler ......................................... Miami, FL 2 Gas 215
Fort Myers ..................................... Fort Myers, FL 2 Oil 542
Manatee ........................................ Parrish, FL 2 Oil 1,638
Martin ......................................... Indiantown, FL 2 Oil/Gas 1,638
Port Everglades ................................ Port Everglades, FL 4 Oil/Gas 1,237
Riviera ........................................ Riviera Beach, FL 2 Oil/Gas 574
St. Johns River Power Park ..................... Jacksonville, FL 2 Coal 250(1)
St. Lucie ...................................... Hutchinson Island, FL 2 Nuclear 1,553(2)
Sanford ........................................ Lake Monroe, FL 3 Oil/Gas 934
Scherer ........................................ Monroe County, GA 1 Coal 539(3)
Turkey Point ................................... Florida City, FL 2 Oil/Gas 796
2 Nuclear 1,332
COMBINED CYCLE
Lauderdale ..................................... Dania, FL 2 Gas/Oil 860
Martin ......................................... Indiantown, FL 2 Gas 860
Putnam ......................................... Palatka, FL 2 Gas/Oil 498
COMBUSTION TURBINES
Fort Myers ..................................... Fort Myers, FL 12 Oil 626
Lauderdale ..................................... Dania, FL 24 Oil/Gas 876
Port Everglades ................................ Port Everglades, FL 12 Oil/Gas 438
DIESEL UNITS
Turkey Point ................................... Florida City, FL 5 Oil 14
TOTAL 16,230
(1) Represents FPL's 20% ownership of St. Johns River Power Park Units Nos. 1 and 2, which are jointly owned with the
Jacksonville Electric Authority ("JEA").
(2) Excludes Orlando Utilities Commission's and Florida Municipal Power Agency's combined share of approximately 15% of St.
Lucie Unit No. 2.
(3) Represents FPL's approximately 66% ownership of Scherer Unit No. 4, which is jointly owned with the JEA and Georgia
Power Company. FPL has contracted to purchase an additional 11% (90 mw) undivided ownership interest in Scherer Unit
No. 4 in June 1995.
</TABLE>
Transmission and Distribution. FPL owns and operates 464 substations
with a total capacity of 101,311,970 kva. Electric transmission and
distribution lines owned and in service as of December 31, 1994 are
as follows:
<TABLE>
<CAPTION>
Overhead Lines Trench and Submarine
Nominal Voltage Pole Miles Cable Miles
<S> <C> <C>
500 kv ............................................................ 1,050(1) -
230 kv ............................................................ 2,189 31
138 kv ............................................................ 1,378 45
115 kv ............................................................ 637 -
69 kv ............................................................ 167 15
Less than 69 kv ................................................... 38,311 18,035
Total ............................................................. 43,732 18,126
(1) Includes approximately 80 miles owned jointly with the JEA.
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> OPUR3
<LEGEND>
This schedule contains summary financial information extracted from FPL Group's condensed consolidated balance sheet as of
December 31, 1994 and condensed consolidated statement of income for the twelve months ended December 31, 1994 and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<NAME> FPL Group, Inc.
<CIK> 0000753308
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-1-1994
<PERIOD-END> DEC-31-1994
<PERIOD-TYPE> 12-MOS
<EXCHANGE-RATE> 1
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> $12,617,616
<TOTAL-OPERATING-REVENUES> $5,442,659
<NET-INCOME> $518,711
</TABLE>
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