|
|
|
|
|
|
|
|
|
|
Previous: OPPENHEIMER VARIABLE ACCOUNT FUNDS, 24F-2NT, 1996-02-28 |
Next: LEXINGTON STRATEGIC SILVER FUND INC, NSAR-A, 1996-02-28 |
<PAGE>
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 47
<PAGE>
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, 1995 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 - 79,756,229,123 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 - 339,859,000 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 - 6,016,013,000 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 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
consists of $31.6 million of equity
contributions plus $3.8 million of unamortized
purchase price in excess of equity in the
underlying net assets of Doswell. 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 = $34,538,495
Total Debt Obligations = $421,147,524
Net Income = $9,193,214
Claimant's Equity in Net Income = $2,182,916
(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>
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 29-34
Turner Foods Corporation and Subsidiaries 35-38
Notes to Consolidating Financial Statements 39
<PAGE>
<TABLE>
FPL GROUP, INC. AND SUBSIDIARIES 5
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
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 $16,034,653 $0 $0 $0 $16,034,653
Nuclear fuel under capital lease 0 179,100 0 0 0 179,100
Construction work in progress 0 317,739 0 0 0 317,739
Other property 0 4,537 189,201 0 1 193,739
Less accumulated depr. & amort. 0 6,832,201 41,048 0 1 6,873,250
Total property, plant and eqpt. - net 0 9,703,828 148,153 0 0 9,851,981
CURRENT ASSETS
Cash and cash equivalents 9,520 412 36,101 144 0 46,177
Customer receivables - net 0 479,838 2,488 0 0 482,326
Materials, supplies & fossil fuel stock 0 230,553 16,770 0 0 247,323
Deferred clause expenses 0 81,451 0 0 0 81,451
Other 8,375 98,963 33,732 1,381 (14,380) 128,071
Total current assets 17,895 891,217 89,091 1,525 (14,380) 985,348
OTHER ASSETS:
Special use funds of FPL 0 646,846 0 0 0 646,846
Other investments 4,703,676 3,582 767,295 17,894 (5,045,441) 447,006
Unamort. debt reacquisition costs of FPL 0 294,844 0 0 0 294,844
Other 13,518 210,942 18,890 0 (10,149) 233,201
Total other assets 4,717,194 1,156,214 786,185 17,894 (5,055,590) 1,621,897
TOTAL ASSETS $4,735,089 $11,751,259 $1,023,429 $19,419 ($5,069,970) $12,459,226
CAPITALIZATION
Common shareholders' equity $4,392,509 $4,473,708 $212,815 $15,918 ($4,702,441) $4,392,509
Pref. stock without sinking fund requirement 0 289,580 0 0 0 289,580
Pref. stock with sinking fund requirements 0 50,000 0 0 0 50,000
Long-term debt 0 3,094,050 282,563 0 0 3,376,613
Total capitalization 4,392,509 7,907,338 495,378 15,918 (4,702,441) 8,108,702
CURRENT LIABILITIES
Commercial paper 0 178,500 0 0 0 178,500
Cur. matur. of long-term debt & pref. stock 0 204,000 7,902 0 0 211,902
Accounts payable 0 299,987 5,139 0 0 305,126
Customers' deposits 0 234,858 190 0 0 235,048
Accrued interest and taxes (1,179) 210,559 6,748 10,601 (6,794) 219,935
Deferred clause revenues 0 78,809 0 0 0 78,809
Other 22,753 254,239 4,131 0 (6,300) 274,823
Total current liabilities 21,574 1,460,952 24,110 10,601 (13,094) 1,504,143
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes (29,015) 1,204,315 422,853 (7,100) (3,604) 1,587,449
Deferred regulatory credit - income taxes 0 144,351 0 0 0 144,351
Unamortized investment tax credits 0 281,966 0 0 0 281,966
Other 350,021 752,337 81,088 0 (350,831) 832,615
Total other liabilities & deferred credit 321,006 2,382,969 503,941 (7,100) (354,435) 2,846,381
TOTAL CAPITALIZATION AND LIABILITIES $4,735,089 $11,751,259 $1,023,429 $19,419 ($5,069,970) $12,459,226
</TABLE>
<PAGE>
<TABLE>
FPL GROUP, INC. AND SUBSIDIARIES 6
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
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 $5,530,057 $62,472 $0 ($44) $5,592,485
OPERATING EXPENSES
Fuel, purchased power & interchange 0 1,721,730 0 0 0 1,721,730
Other operations and maintenance 743 1,138,347 67,191 207 (44) 1,206,444
Depreciation & amortization 0 909,357 8,579 0 0 917,936
Taxes other than income taxes 3 547,976 1,290 0 0 549,269
Total operating expenses 746 4,317,410 77,060 207 (44) 4,395,379
OPERATING INCOME (746) 1,212,647 (14,588) (207) 0 1,197,106
OTHER INCOME (DEDUCTIONS):
Interest charges (34,071) (269,952) (20,717) 0 34,071 (290,669)
Preferred stock dividend requirements 0 (43,402) 0 0 0 (43,402)
Other-net 574,716 10,973 37,294 (184) (603,929) 18,870
Interest expense and other - net 540,645 (302,381) 16,577 (184) (569,858) (315,201)
INCOME BEFORE INCOME TAXES 539,899 910,266 1,989 (391) (569,858) 881,905
INCOME TAXES (13,412) 342,294 (151) (137) 0 328,594
NET INCOME (LOSS) 553,311 567,972 2,140 (254) (569,858) 553,311
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 1,013,793 865,981 (916,877) 73 50,823 1,013,793
DEDUCT:
Dividends 308,582 557,923 2,140 0 (560,063) 308,582
Other 0 3,984 0 0 (3,984) 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $1,258,522 $872,046 ($916,877) ($181) $45,012 $1,258,522
</TABLE>
<PAGE>
<TABLE>
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES 7
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
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 $15,837,701 $196,952 $0 $0 $0 $0 $16,034,653
Nuclear fuel under capital lease 179,100 0 0 0 0 0 179,100
Construction work in progress 317,078 661 0 0 0 0 317,739
Other property 4,462 0 0 75 0 0 4,537
Less accumulated depr. & amort. 6,793,374 38,827 0 0 0 0 6,832,201
Total property, plant and eqpt. - net 9,544,967 158,786 0 75 0 0 9,703,828
CURRENT ASSETS
Cash and cash equivalents 171 0 0 0 241 0 412
Customer receivables - net 146,824 0 0 833 332,181 0 479,838
Materials, supplies & fossil fuel stock 230,553 0 0 0 0 0 230,553
Deferred clause expenses 81,451 0 0 0 0 0 81,451
Other 431,016 42,718 0 1,074 17,014 (392,859) 98,963
Total current assets 890,015 42,718 0 1,907 349,436 (392,859) 891,217
OTHER ASSETS:
Special use funds of FPL 533,717 0 0 0 113,129 0 646,846
Other investments 303,333 0 873 (99) 586 (301,111) 3,582
Unamort. debt reacquisition costs of FPL 294,844 0 0 0 0 0 294,844
Other 210,942 0 0 0 0 0 210,942
Total other assets 1,342,836 0 873 (99) 113,715 (301,111) 1,156,214
TOTAL ASSETS $11,777,818 $201,504 $873 $1,883 $463,151 ($693,970) $11,751,259
CAPITALIZATION
Common shareholders' equity $4,473,708 $185,888 $873 $873 $113,477 ($301,111) $4,473,708
Pref. stock without sinking fund requirement 289,580 0 0 0 0 0 289,580
Pref. stock with sinking fund requirements 50,000 0 0 0 0 0 50,000
Long-term debt 3,094,050 0 0 0 0 0 3,094,050
Total capitalization 7,907,338 185,888 873 873 113,477 (301,111) 7,907,338
CURRENT LIABILITIES
Commercial paper 178,500 0 0 0 350,000 (350,000) 178,500
Cur. matur. of long-term debt & pref. stock 204,000 0 0 0 0 0 204,000
Accounts payable 299,987 0 0 0 0 0 299,987
Customers' deposits 234,858 0 0 0 0 0 234,858
Accrued interest and taxes 210,214 153 0 44 148 0 210,559
Deferred clause revenues 78,809 0 0 0 0 0 78,809
Other 296,958 0 0 98 42 (42,859) 254,239
Total current liabilities 1,503,326 153 0 142 350,190 (392,859) 1,460,952
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 1,188,823 14,900 0 592 0 0 1,204,315
Deferred regulatory credit - income taxes 144,351 0 0 0 0 0 144,351
Unamortized investment tax credits 281,403 563 0 0 0 0 281,966
Other 752,577 0 0 276 (516) 0 752,337
Total other liabilities & deferred credit 2,367,154 15,463 0 868 (516) 0 2,382,969
TOTAL CAPITALIZATION AND LIABILITIES $11,777,818 $201,504 $873 $1,883 $463,151 ($693,970) $11,751,259
</TABLE>
<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 $5,530,057 $6,304 $0 $0 $0 ($6,304) $5,530,057
OPERATING EXPENSES
Fuel, purchased power & interchange 1,721,730 0 0 0 0 0 1,721,730
Other operations and maintenance 1,144,672 0 0 (21) 0 (6,304) 1,138,347
Depreciation & amortization 906,078 3,279 0 0 0 0 909,357
Taxes other than income taxes 544,747 3,229 0 0 0 0 547,976
Total operating expenses 4,317,227 6,508 0 (21) 0 (6,304) 4,317,410
OPERATING INCOME 1,212,830 (204) 0 21 0 0 1,212,647
OTHER INCOME (DEDUCTIONS):
Interest charges (269,952) 0 0 0 (272) 272 (269,952)
Preferred stock dividend requirements (43,402) 0 0 0 0 0 (43,402)
Other-net 10,732 0 0 246 3,870 (3,875) 10,973
Interest expense and other - net (302,622) 0 0 246 3,598 (3,603) (302,381)
INCOME BEFORE INCOME TAXES 910,208 (204) 0 267 3,598 (3,603) 910,266
INCOME TAXES 342,236 (204) 0 104 158 0 342,294
NET INCOME (LOSS) 567,972 0 0 163 3,440 (3,603) 567,972
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 865,981 0 (2,266) (2,265) (166) 4,697 865,981
DEDUCT:
Dividends 557,923 0 0 0 0 0 557,923
Other 3,984 0 0 0 0 0 3,984
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $872,046 $0 ($2,266) ($2,102) $3,274 $1,094 $872,046
</TABLE>
<PAGE>
<TABLE>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 9
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
Thousands of Dollars Palms
<CAPTION> FPL ESI Insurance QualTec
Group Alandco Energy, MBR Company, Quality
Capital Inc. Inc. Services, Ltd. Services,
ASSETS Inc ConsolidatedConsolidated 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
Nuclear fuel under capital lease 0 0 0 0 0 0
Construction work in progress 0 0 0 0 0 0
Other property 0 20,093 1,092 0 0 0
Less accumulated depr. & amort. 0 173 626 0 0 0
Total property, plant and eqpt. - net 0 19,920 466 0 0 0
CURRENT ASSETS
Cash and cash equivalents 32,090 (92) 93 35 1,009 0
Customer receivables - net 0 0 55 26 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Deferred clause expenses 0 0 0 0 0 0
Other 4,450 14,115 31,215 72 2,990 0
Total current assets 36,540 14,023 31,363 133 3,999 0
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 621,870 3,135 400,893 0 7,955 0
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other 5,766 964 15,440 0 490 0
Total other assets 627,636 4,099 416,333 0 8,445 0
TOTAL ASSETS $664,176 $38,042 $448,162 $133 $12,444 $0
CAPITALIZATION
Common shareholders' equity $212,815 $37,354 $84,733 $33 $5,354 $0
Pref. stock without sinking fund requirement 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 278,110 0 4,453 0 0 0
Total capitalization 490,925 37,354 89,186 33 5,354 0
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 7,902 0 0 0
Accounts payable 102 595 2,172 0 38 0
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 6,626 3 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 33,567 90 2,241 99 48 0
Total current liabilities 40,295 688 12,315 99 86 0
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 41,662 0 345,354 1 0 0
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 91,294 0 1,307 0 7,004 0
Total other liabilities & deferred credit 132,956 0 346,661 1 7,004 0
TOTAL CAPITALIZATION AND LIABILITIES $664,176 $38,042 $448,162 $133 $12,444 $0
</TABLE>
<PAGE>
<TABLE>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 10
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
Thousands of Dollars Palms
<CAPTION> FPL ESI Insurance QualTec
Group Alandco Energy, MBR Company, Quality
Capital Inc. Inc. Services, Ltd. Services,
INCOME STATEMENT Inc ConsolidatedConsolidated Inc. Consolidated Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $3,050 $2,386 $225 $2,115 $7,421
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 3,325 2,272 19,114 779 1,607 5,110
Depreciation & amortization 290 748 145 112 0 547
Taxes other than income taxes 0 728 42 15 0 23
Total operating expenses 3,615 3,748 19,301 906 1,607 5,680
OPERATING INCOME (3,615) (698) (16,915) (681) 508 1,741
OTHER INCOME (DEDUCTIONS):
Interest charges (19,889) (430) 127 0 0 (9)
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net 21,422 2,328 17,158 0 0 (2)
Interest expense and other - net 1,533 1,898 17,285 0 0 (11)
INCOME BEFORE INCOME TAXES (2,082) 1,200 370 (681) 508 1,730
INCOME TAXES (4,222) 407 (1,243) (261) 178 676
NET INCOME (LOSS) 2,140 793 1,613 (420) 330 1,054
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (916,877) (6,799) 0 (188) 2,786 0
DEDUCT:
Dividends 2,140 793 1,613 0 0 1,054
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($916,877) ($6,799) $0 ($608) $3,116 $0
</TABLE>
<PAGE>
<TABLE>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 11
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
Thousands of Dollars FPL
<CAPTION> Telesat Turner Adjusting Group
Cablevision, Foods FPL & Capital
Inc. Corporation Holdings Elim. Inc
ASSETS ConsolidatedConsolidated Inc Entries Consolidated
<S> <C> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0
Nuclear fuel under capital lease 0 0 0 0 0
Construction work in progress 0 0 0 0 0
Other property 15,558 177,297 272 (25,111) 189,201
Less accumulated depr. & amort. 6,513 33,464 272 0 41,048
Total property, plant and eqpt. - net 9,045 143,833 0 (25,111) 148,153
CURRENT ASSETS
Cash and cash equivalents (58) 3,014 10 0 36,101
Customer receivables - net 359 2,048 0 0 2,488
Materials, supplies & fossil fuel stock 164 16,606 0 0 16,770
Deferred clause expenses 0 0 0 0 0
Other 3,992 7,062 177 (30,341) 33,732
Total current assets 4,457 28,730 187 (30,341) 89,091
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0
Other investments 38,369 113 0 (305,040) 767,295
Unamort. debt reacquisition costs of FPL 0 0 0 0 0
Other 818 257 (17) (4,828) 18,890
Total other assets 39,187 370 (17) (309,868) 786,185
TOTAL ASSETS $52,689 $172,933 $170 ($365,320) $1,023,429
CAPITALIZATION
Common shareholders' equity $42,692 $137,771 $177 ($308,114) $212,815
Pref. stock without sinking fund requirement 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0
Long-term debt 0 0 0 0 282,563
Total capitalization 42,692 137,771 177 (308,114) 495,378
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0 7,902
Accounts payable 58 2,174 0 0 5,139
Customers' deposits 14 176 0 0 190
Accrued interest and taxes 104 15 0 0 6,748
Deferred clause revenues 0 0 0 0 0
Other 1,430 0 0 (33,344) 4,131
Total current liabilities 1,606 2,365 0 (33,344) 24,110
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 8,046 32,797 (81) (4,926) 422,853
Deferred regulatory credit - income taxes 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0
Other 345 0 74 (18,936) 81,088
Total other liabilities & deferred credit 8,391 32,797 (7) (23,862) 503,941
TOTAL CAPITALIZATION AND LIABILITIES $52,689 $172,933 $170 ($365,320) $1,023,429
</TABLE>
<PAGE>
<TABLE>
FPL GROUP CAPITAL INC AND SUBSIDIARIES 12
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
Thousands of Dollars FPL
<CAPTION> Telesat Turner Adjusting Group
Cablevision, Foods FPL & Capital
Inc. Corporation Holdings Elim. Inc
INCOME STATEMENT ConsolidatedConsolidated Inc Entries Consolidated
<S> <C> <C> <C> <C> <C>
OPERATING REVENUES $7,337 $39,938 $0 $0 $62,472
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0
Other operations and maintenance 5,764 29,217 3 0 67,191
Depreciation & amortization 1,774 4,963 0 0 8,579
Taxes other than income taxes 482 0 0 0 1,290
Total operating expenses 8,020 34,180 3 0 77,060
OPERATING INCOME (683) 5,758 (3) 0 (14,588)
OTHER INCOME (DEDUCTIONS):
Interest charges (516) 0 0 0 (20,717)
Preferred stock dividend requirements 0 0 0 0 0
Other-net 4,707 553 0 (8,872) 37,294
Interest expense and other - net 4,191 553 0 (8,872) 16,577
INCOME BEFORE INCOME TAXES 3,508 6,311 (3) (8,872) 1,989
INCOME TAXES 1,869 2,448 (1) (2) (151)
NET INCOME (LOSS) 1,639 3,863 (2) (8,870) 2,140
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (30,327) 11,057 (672) 24,143 (916,877)
DEDUCT:
Dividends 1,639 3,863 0 (8,962) 2,140
Other 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($30,327) $11,057 ($674) $24,235 ($916,877)
</TABLE>
<PAGE>
<TABLE>
ALANDCO INC. AND SUBSIDIARIES 13
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
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
Nuclear fuel under capital lease 0 0 0 0 0 0
Construction work in progress 0 0 0 0 0 0
Other property 0 0 20,093 0 0 20,093
Less accumulated depr. & amort. 0 0 173 0 0 173
Total property, plant and eqpt. - net 0 0 19,920 0 0 19,920
CURRENT ASSETS
Cash and cash equivalents (92) 0 0 0 0 (92)
Customer receivables - net 0 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Deferred clause expenses 0 0 0 0 0 0
Other 12,485 0 2,300 (670) 0 14,115
Total current assets 12,393 0 2,300 (670) 0 14,023
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 39,290 0 3,135 0 (39,290) 3,135
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other (1,167) 0 1,510 621 0 964
Total other assets 38,123 0 4,645 621 (39,290) 4,099
TOTAL ASSETS $50,516 $0 $26,865 ($49) ($39,290) $38,042
CAPITALIZATION
Common shareholders' equity $50,516 $0 $26,177 ($49) ($39,290) $37,354
Pref. stock without sinking fund requirement 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 50,516 0 26,177 (49) (39,290) 37,354
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 0 595 0 0 595
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 3 0 0 3
Deferred clause revenues 0 0 0 0 0 0
Other 0 0 90 0 0 90
Total current liabilities 0 0 688 0 0 688
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 0 0 0 0 0 0
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other liabilities & deferred credit 0 0 0 0 0 0
TOTAL CAPITALIZATION AND LIABILITIES $50,516 $0 $26,865 ($49) ($39,290) $38,042
</TABLE>
<PAGE>
<TABLE>
ALANDCO INC. AND SUBSIDIARIES 14
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
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 $3,050 $0 $0 $3,050
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 0 0 2,272 0 0 2,272
Depreciation & amortization 0 0 748 0 0 748
Taxes other than income taxes 0 0 728 0 0 728
Total operating expenses 0 0 3,748 0 0 3,748
OPERATING INCOME 0 0 (698) 0 0 (698)
OTHER INCOME (DEDUCTIONS):
Interest charges 0 0 (430) 0 0 (430)
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net 4,696 0 (7,791) (12) 5,435 2,328
Interest expense and other - net 4,696 0 (8,221) (12) 5,435 1,898
INCOME BEFORE INCOME TAXES 4,696 0 (8,919) (12) 5,435 1,200
INCOME TAXES 3,903 0 (3,500) 4 0 407
NET INCOME (LOSS) 793 0 (5,419) (16) 5,435 793
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (6,799) (474) (10,678) 2,030 9,122 (6,799)
DEDUCT:
Dividends 793 0 0 0 0 793
Other 0 (474) 0 0 474 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($6,799) $0 ($16,097) $2,014 $14,083 ($6,799)
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 15
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
Thousands of Dollars
<CAPTION> ESI ESI
ESI ESI Dixie ESI ESI California
Energy, Antilles Valley, Bay Area, Brady, Holdings,
ASSETS Inc. LP, 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
Nuclear fuel under capital lease 0 0 0 0 0 0
Construction work in progress 0 0 0 0 0 0
Other property 1,092 0 0 0 0 0
Less accumulated depr. & amort. 626 0 0 0 0 0
Total property, plant and eqpt. - net 466 0 0 0 0 0
CURRENT ASSETS
Cash and cash equivalents (19) 64 20 0 0 0
Customer receivables - net 55 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Deferred clause expenses 0 0 0 0 0 0
Other 24,442 2,843 (11,415) 16,811 (1,810) 4,137
Total current assets 24,478 2,907 (11,395) 16,811 (1,810) 4,137
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 237,718 0 0 27,342 (5,197) 0
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other 13,940 0 0 0 0 0
Total other assets 251,658 0 0 27,342 (5,197) 0
TOTAL ASSETS $276,602 $2,907 ($11,395) $44,153 ($7,007) $4,137
CAPITALIZATION
Common shareholders' equity $32,178 $11,483 ($11,518) $24,918 ($2,027) $4,134
Pref. stock without sinking fund requirement 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 500 453 0 0 0 0
Total capitalization 32,678 11,936 (11,518) 24,918 (2,027) 4,134
CURRENT LIABILITIES
Commercial paper 0 0 0 0 0 0
Cur. matur. of long-term debt & pref. stock 7,060 842 0 0 0 0
Accounts payable 225,585 217 123 95 395 3
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 2,226 15 0 0 0 0
Total current liabilities 234,871 1,074 123 95 395 3
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 8,746 (10,103) 0 19,140 (5,375) 0
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 307 0 0 0 0 0
Total other liabilities & deferred credit 9,053 (10,103) 0 19,140 (5,375) 0
TOTAL CAPITALIZATION AND LIABILITIES $276,602 $2,907 ($11,395) $44,153 ($7,007) $4,137
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 16
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
Thousands of Dollars
<CAPTION> ESI ESI
ESI ESI Dixie ESI ESI California
Energy, Antilles Valley, Bay Area, Brady, Holdings,
INCOME STATEMENT Inc. LP, Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $163 $0 $146 $0 ($89) $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 9,124 6,772 58 69 167 1
Depreciation & amortization 145 0 0 0 0 0
Taxes other than income taxes 40 0 0 0 0 0
Total operating expenses 9,309 6,772 58 69 167 1
OPERATING INCOME (9,146) (6,772) 88 (69) (256) (1)
OTHER INCOME (DEDUCTIONS):
Interest charges 2,078 (175) 0 0 0 0
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net 4,860 0 32,684 2,811 (2,078) (227)
Interest expense and other - net 6,938 (175) 32,684 2,811 (2,078) (227)
INCOME BEFORE INCOME TAXES (2,208) (6,947) 32,772 2,742 (2,334) (228)
INCOME TAXES (3,821) (2,432) 11,503 314 (1,133) (95)
NET INCOME (LOSS) 1,613 (4,515) 21,269 2,428 (1,201) (133)
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 0 (763) 29 3,904 (4,411) 270
DEDUCT:
Dividends 1,613 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $0 ($5,278) $21,298 $6,332 ($5,612) $137
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 17
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995 ESI
Thousands of Dollars Geothermal
<CAPTION> Inc., and Harper
ESI ESI ESI ESI Lake Hyperion
Double "C", Doswell, Ebensburg, Geothermal Operations, VIII,
ASSETS Inc. Inc. Inc. II, 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
Nuclear fuel under capital lease 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
Deferred clause expenses 0 0 0 0 0 0
Other 6,540 796 4,661 (18,775) 169 31,819
Total current assets 6,540 796 4,661 (18,775) 169 31,819
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 5,905 7,085 14,702 17,602 0 9,015
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other assets 5,905 7,085 14,702 17,602 0 9,015
TOTAL ASSETS $12,445 $7,881 $19,363 ($1,173) $169 $40,834
CAPITALIZATION
Common shareholders' equity $7,189 $5,508 $4,017 ($9,870) $73 $20,141
Pref. stock without sinking fund requirement 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 0 0 6,696 0 0 0
Total capitalization 7,189 5,508 10,713 (9,870) 73 20,141
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 31 158 2,409 88 96 446
Customers' deposits 0 0 0 0 0 0
Accrued interest and 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 31 158 2,409 88 96 446
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 5,225 2,215 6,241 8,609 0 20,247
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other liabilities & deferred credit 5,225 2,215 6,241 8,609 0 20,247
TOTAL CAPITALIZATION AND LIABILITIES $12,445 $7,881 $19,363 ($1,173) $169 $40,834
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 18
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995 ESI
Thousands of Dollars Geothermal
<CAPTION> Inc., and Harper
ESI ESI ESI ESI Lake Hyperion
Double "C", Doswell, Ebensburg, Geothermal Operations, VIII,
INCOME STATEMENT Inc. Inc. Inc. II, Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $0 $0 $200 $211 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 21 110 37 47 97 80
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 21 110 37 47 97 80
OPERATING INCOME (21) (110) (37) 153 114 (80)
OTHER INCOME (DEDUCTIONS):
Interest charges 0 0 (578) 0 0 0
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net 0 373 0 41 0 (4,508)
Interest expense and other - net 0 373 (578) 41 0 (4,508)
INCOME BEFORE INCOME TAXES (21) 263 (615) 194 114 (4,588)
INCOME TAXES (203) (3,309) (973) (2,500) 41 (1,952)
NET INCOME (LOSS) 182 3,572 358 2,694 73 (2,636)
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 1,719 14,250 460 11,806 0 (4,020)
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $1,901 $17,822 $818 $14,500 $73 ($6,656)
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 19
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
Thousands of Dollars
<CAPTION>
Hyperion FPL ESI ESI ESI MES
IX, Investments Jonesboro, 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
Nuclear fuel under capital lease 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 9
Customer receivables - net 0 0 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0 0 0
Deferred clause expenses 0 0 0 0 0 0
Other 37,591 75,529 (6,771) 8,098 907 15,380
Total current assets 37,591 75,529 (6,771) 8,098 907 15,389
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 18,125 142,083 0 3,593 23,144 62,482
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other assets 18,125 142,083 0 3,593 23,144 62,482
TOTAL ASSETS $55,716 $217,612 ($6,771) $11,691 $24,051 $77,871
CAPITALIZATION
Common shareholders' equity $29,055 $52,973 ($6,075) $7,691 $20,565 $78,090
Pref. stock without sinking fund requirement 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 29,055 52,973 (6,075) 7,691 20,565 78,090
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 334 5,135 88 35 0 (77)
Customers' deposits 0 0 0 0 0 0
Accrued interest and 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 334 5,135 88 35 0 (77)
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 26,327 159,504 (784) 3,965 3,486 (142)
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other liabilities & deferred credit 26,327 159,504 (784) 3,965 3,486 (142)
TOTAL CAPITALIZATION AND LIABILITIES $55,716 $217,612 ($6,771) $11,691 $24,051 $77,871
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 20
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
Thousands of Dollars
<CAPTION>
Hyperion FPL ESI ESI ESI MES
IX, Investments Jonesboro, Kern Front, LP, Financial
INCOME STATEMENT Inc. Inc Inc. Inc. Inc. Corp
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $65 $0 $0 $0 $0 $16
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 65 37 61 22 0 6
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 1
Total operating expenses 65 37 61 22 0 7
OPERATING INCOME 0 (37) (61) (22) 0 9
OTHER INCOME (DEDUCTIONS):
Interest charges 0 0 0 0 0 0
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net (3,953) 792 7,812 0 (585) 3,396
Interest expense and other - net (3,953) 792 7,812 0 (585) 3,396
INCOME BEFORE INCOME TAXES (3,953) 755 7,751 (22) (585) 3,405
INCOME TAXES (1,963) 304 2,748 (161) (197) 1,480
NET INCOME (LOSS) (1,990) 451 5,003 139 (388) 1,925
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (6,179) 1,737 3,319 1,910 (3,147) 998
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($8,169) $2,188 $8,322 $2,049 ($3,535) $2,923
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 21
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
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
Nuclear fuel under capital lease 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
Deferred clause expenses 0 0 0 0 0 0
Other 42,616 (4,554) (715) (227) (3,253) 54
Total current assets 42,616 (4,554) (715) (227) (3,253) 54
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 29,562 (772) 11,248 (19) 36,565 0
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other assets 29,562 (772) 11,248 (19) 36,565 0
TOTAL ASSETS $72,178 ($5,326) $10,533 ($246) $33,312 $54
CAPITALIZATION
Common shareholders' equity $2,323 ($4,514) $10,443 ($456) $33,369 ($102)
Pref. stock without sinking fund requirement 0 0 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0 0 0
Long-term debt 13,802 0 0 0 0 0
Total capitalization 16,125 (4,514) 10,443 (456) 33,369 (102)
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 13,220 26 235 247 180 156
Customers' deposits 0 0 0 0 0 0
Accrued interest and 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 13,220 26 235 247 180 156
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 42,833 (1,838) (145) (37) (237) 0
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 0 1,000 0 0 0 0
Total other liabilities & deferred credit 42,833 (838) (145) (37) (237) 0
TOTAL CAPITALIZATION AND LIABILITIES $72,178 ($5,326) $10,533 ($246) $33,312 $54
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 22
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
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 $267 $400 $622 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 1,425 24 140 187 140 153
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 1 0 0
Total operating expenses 1,425 24 140 188 140 153
OPERATING INCOME (1,425) (24) 127 212 482 (153)
OTHER INCOME (DEDUCTIONS):
Interest charges (1,198) 0 0 0 0 0
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net 0 495 0 11 0 0
Interest expense and other - net (1,198) 495 0 11 0 0
INCOME BEFORE INCOME TAXES (2,623) 471 127 223 482 (153)
INCOME TAXES (665) (748) (649) 388 1,006 (55)
NET INCOME (LOSS) (1,958) 1,219 776 (165) (524) (98)
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (8,574) 5,409 749 952 1,992 (3)
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($10,532) $6,628 $1,525 $787 $1,468 ($101)
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 23
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
Thousands of Dollars ESI
<CAPTION> Virginia
ESI ESI ESI Sky ESI Power ESI
SEMASS Corp. Sierra, River, Steamboat, Services, Victory,
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
Nuclear fuel under capital lease 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
Deferred clause expenses 0 0 0 0 0 0
Other 16,462 3,537 27,298 8 337 4,858
Total current assets 16,462 3,537 27,298 8 337 4,858
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 0 5,555 4,119 0 0 6,083
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other 0 0 0 0 1,500 0
Total other assets 0 5,555 4,119 0 1,500 6,083
TOTAL ASSETS $16,462 $9,092 $31,417 $8 $1,837 $10,941
CAPITALIZATION
Common shareholders' equity $2,446 $4,651 $2,494 ($6) $1,805 $5,251
Pref. stock without sinking fund requirement 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 2,446 4,651 2,494 (6) 1,805 5,251
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 189 34 33 14 32 23
Customers' deposits 0 0 0 0 0 0
Accrued interest and 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 189 34 33 14 32 23
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 13,827 4,407 28,890 0 0 5,667
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other liabilities & deferred credit 13,827 4,407 28,890 0 0 5,667
TOTAL CAPITALIZATION AND LIABILITIES $16,462 $9,092 $31,417 $8 $1,837 $10,941
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 24
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
Thousands of Dollars ESI
<CAPTION> Virginia
ESI ESI ESI Sky ESI Power ESI
SEMASS Corp. Sierra, River, Steamboat, Services, Victory,
INCOME STATEMENT LP, Inc. Inc. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $50 $0 $0 $4 $331 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 116 22 21 14 27 12
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 116 22 21 14 27 12
OPERATING INCOME (66) (22) (21) (10) 304 (12)
OTHER INCOME (DEDUCTIONS):
Interest charges 0 0 0 0 0 0
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net 4,301 0 3,337 0 0 1,500
Interest expense and other - net 4,301 0 3,337 0 0 1,500
INCOME BEFORE INCOME TAXES 4,235 (22) 3,316 (10) 304 1,488
INCOME TAXES 878 (100) 451 (3) 118 374
NET INCOME (LOSS) 3,357 78 2,865 (7) 186 1,114
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (19,399) 2,783 4,153 0 119 2,661
DEDUCT:
Dividends 0 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($16,042) $2,861 $7,018 ($7) $305 $3,775
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 25
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
Thousands of Dollars
<CAPTION> ESI Adjusting
ESI West WTE & ESI
Enfield, Development, 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
Nuclear fuel under capital lease 0 0 0 0
Construction work in progress 0 0 0 0
Other property 0 0 0 1,092
Less accumulated depr. & amort. 0 0 0 626
Total property, plant and eqpt. - net 0 0 0 466
CURRENT ASSETS
Cash and cash equivalents 0 0 19 93
Customer receivables - net 0 0 0 55
Materials, supplies & fossil fuel stock 0 0 0 0
Deferred clause expenses 0 0 0 0
Other (7,018) (10) (239,130) 31,215
Total current assets (7,018) (10) (239,111) 31,363
OTHER ASSETS:
Special use funds of FPL 0 0 0 0
Other investments 0 6,165 (261,212) 400,893
Unamort. debt reacquisition costs of FPL 0 0 0 0
Other 0 0 0 15,440
Total other assets 0 6,165 (261,212) 416,333
TOTAL ASSETS ($7,018) $6,155 ($500,323) $448,162
CAPITALIZATION
Common shareholders' equity ($6,446) $6,155 ($241,205) $84,733
Pref. stock without sinking fund requirement 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0
Long-term debt 0 0 (16,998) 4,453
Total capitalization (6,446) 6,155 (258,203) 89,186
CURRENT LIABILITIES
Commercial paper 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 7,902
Accounts payable 83 0 (247,461) 2,172
Customers' deposits 0 0 0 0
Accrued interest and taxes 0 0 0 0
Deferred clause revenues 0 0 0 0
Other 0 0 0 2,241
Total current liabilities 83 0 (247,461) 12,315
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes (655) 0 5,341 345,354
Deferred regulatory credit - income taxes 0 0 0 0
Unamortized investment tax credits 0 0 0 0
Other 0 0 0 1,307
Total other liabilities & deferred credit (655) 0 5,341 346,661
TOTAL CAPITALIZATION AND LIABILITIES ($7,018) $6,155 ($500,323) $448,162
</TABLE>
<PAGE>
<TABLE>
ESI ENERGY, INC. AND SUBSIDIARIES 26
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
Thousands of Dollars
<CAPTION> ESI Adjusting
ESI West WTE & ESI
Enfield, Development, Elim. Energy, Inc.
INCOME STATEMENT Inc. Inc. Entries Consolidated
<S> <C> <C> <C> <C>
OPERATING REVENUES $0 $0 $0 $2,386
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0
Other operations and maintenance 59 0 0 19,114
Depreciation & amortization 0 0 0 145
Taxes other than income taxes 0 0 0 42
Total operating expenses 59 0 0 19,301
OPERATING INCOME (59) 0 0 (16,915)
OTHER INCOME (DEDUCTIONS):
Interest charges 0 0 0 127
Preferred stock dividend requirements 0 0 0 0
Other-net 8,869 0 (42,773) 17,158
Interest expense and other - net 8,869 0 (42,773) 17,285
INCOME BEFORE INCOME TAXES 8,810 0 (42,773) 370
INCOME TAXES 3,110 10 (3,009) (1,243)
NET INCOME (LOSS) 5,700 (10) (39,764) 1,613
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 3,223 3,223 (19,170) 0
DEDUCT:
Dividends 0 0 0 1,613
Other 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $8,923 $3,213 ($58,934) $0
</TABLE>
<PAGE>
<TABLE>
PALMS INSURANCE COMPANY, LIMITED AND SUSIDIARY 27
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
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
Nuclear fuel under capital lease 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 407 602 0 1,009
Customer receivables - net 0 0 0 0
Materials, supplies & fossil fuel stock 0 0 0 0
Deferred clause expenses 0 0 0 0
Other 2,324 1,657 (991) 2,990
Total current assets 2,731 2,259 (991) 3,999
OTHER ASSETS:
Special use funds of FPL 0 0 0 0
Other investments 6,658 2,022 (725) 7,955
Unamort. debt reacquisition costs of FPL 0 0 0 0
Other 372 118 0 490
Total other assets 7,030 2,140 (725) 8,445
TOTAL ASSETS $9,761 $4,399 ($1,716) $12,444
CAPITALIZATION
Common shareholders' equity $4,290 $1,789 ($725) $5,354
Pref. stock without sinking fund requirement 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0
Long-term debt 0 0 0 0
Total capitalization 4,290 1,789 (725) 5,354
CURRENT LIABILITIES
Commercial paper 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0
Accounts payable 29 9 0 38
Customers' deposits 0 0 0 0
Accrued interest and taxes 0 0 0 0
Deferred clause revenues 0 0 0 0
Other 109 (61) 0 48
Total current liabilities 138 (52) 0 86
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
Other 5,333 2,662 (991) 7,004
Total other liabilities & deferred credit 5,333 2,662 (991) 7,004
TOTAL CAPITALIZATION AND LIABILITIES $9,761 $4,399 ($1,716) $12,444
</TABLE>
<PAGE>
<TABLE>
PALMS INSURANCE COMPANY, LIMITED AND SUSIDIARY 28
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
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 $2,287 ($172) $0 $2,115
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0
Other operations and maintenance 1,881 (274) 0 1,607
Depreciation & amortization 0 0 0 0
Taxes other than income taxes 0 0 0 0
Total operating expenses 1,881 (274) 0 1,607
OPERATING INCOME 406 102 0 508
OTHER INCOME (DEDUCTIONS):
Interest charges 59 (59) 0 0
Preferred stock dividend requirements 0 0 0 0
Other-net 991 0 (991) 0
Interest expense and other - net 1,050 (59) (991) 0
INCOME BEFORE INCOME TAXES 1,456 43 (991) 508
INCOME TAXES 163 15 0 178
NET INCOME (LOSS) 1,293 28 (991) 330
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 1,823 963 0 2,786
DEDUCT:
Dividends 0 0 0 0
Other 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $3,116 $991 ($991) $3,116
</TABLE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 29
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
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
Nuclear fuel under capital lease 0 0 0 0
Construction work in progress 0 0 0 0
Other property 15,558 0 0 15,558
Less accumulated depr. & amort. 6,513 0 0 6,513
Total property, plant and eqpt. - net 9,045 0 0 9,045
CURRENT ASSETS
Cash and cash equivalents (58) 0 0 (58)
Customer receivables - net 359 0 0 359
Materials, supplies & fossil fuel stock 164 0 0 164
Deferred clause expenses 0 0 0 0
Other 38,742 1,065 (35,815) 3,992
Total current assets 39,207 1,065 (35,815) 4,457
OTHER ASSETS:
Special use funds of FPL 0 0 0 0
Other investments 3,993 38,369 (3,993) 38,369
Unamort. debt reacquisition costs of FPL 0 0 0 0
Other 444 374 0 818
Total other assets 4,437 38,743 (3,993) 39,187
TOTAL ASSETS $52,689 $39,808 ($39,808) $52,689
CAPITALIZATION
Common shareholders' equity $42,692 $3,993 ($3,993) $42,692
Pref. stock without sinking fund requirement 0 0 0 0
Pref. stock with sinking fund requirements 0 0 0 0
Long-term debt 0 0 0 0
Total capitalization 42,692 3,993 (3,993) 42,692
CURRENT LIABILITIES
Commercial paper 0 0 0 0
Cur. matur. of long-term debt & pref. stock 0 0 0 0
Accounts payable 58 0 0 58
Customers' deposits 14 0 0 14
Accrued interest and taxes 104 0 0 104
Deferred clause revenues 0 0 0 0
Other 1,430 35,815 (35,815) 1,430
Total current liabilities 1,606 35,815 (35,815) 1,606
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 8,046 0 0 8,046
Deferred regulatory credit - income taxes 0 0 0 0
Unamortized investment tax credits 0 0 0 0
Other 345 0 0 345
Total other liabilities & deferred credit 8,391 0 0 8,391
TOTAL CAPITALIZATION AND LIABILITIES $52,689 $39,808 ($39,808) $52,689
</TABLE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 30
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
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 $7,337 $0 $0 $7,337
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0
Other operations and maintenance 5,764 0 0 5,764
Depreciation & amortization 1,774 0 0 1,774
Taxes other than income taxes 482 0 0 482
Total operating expenses 8,020 0 0 8,020
OPERATING INCOME (683) 0 0 (683)
OTHER INCOME (DEDUCTIONS):
Interest charges (516) 0 0 (516)
Preferred stock dividend requirements 0 0 0 0
Other-net 2,314 6,205 (3,812) 4,707
Interest expense and other - net 1,798 6,205 (3,812) 4,191
INCOME BEFORE INCOME TAXES 1,115 6,205 (3,812) 3,508
INCOME TAXES (524) 2,393 0 1,869
NET INCOME (LOSS) 1,639 3,812 (3,812) 1,639
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (30,327) (1,065) 1,065 (30,327)
DEDUCT:
Dividends 1,639 0 0 1,639
Other 0 (1,246) 1,246 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($30,327) $3,993 ($3,993) ($30,327)
</TABLE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 31
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
Thousands of Dollars Telesat
<CAPTION> Cablevision Cable Adjusting
of South Cable LP Cable Cable &
Florida, LP I, (Pasco), GP, LP III, Elim.
ASSETS Inc. Inc. Inc. Inc. Inc. Entries
<S> <C> <C> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0 $0 $0 $0 $0 $0
Nuclear fuel under capital lease 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
Deferred clause expenses 0 0 0 0 0 0
Other 0 1,065 0 0 0 0
Total current assets 0 1,065 0 0 0 0
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 3,993 2,258 3,264 0 32,847 (3,993)
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other 0 374 0 0 0 0
Total other assets 3,993 2,632 3,264 0 32,847 (3,993)
TOTAL ASSETS $3,993 $3,697 $3,264 $0 $32,847 ($3,993)
CAPITALIZATION
Common shareholders' equity $3,993 $7,467 $0 $0 ($3,474) ($3,993)
Pref. stock without sinking fund requirement 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 3,993 7,467 0 0 (3,474) (3,993)
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 0 0 0 0
Customers' deposits 0 0 0 0 0 0
Accrued interest and taxes 0 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 0 (3,770) 3,264 0 36,321 0
Total current liabilities 0 (3,770) 3,264 0 36,321 0
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 0 0 0 0 0 0
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other liabilities & deferred credit 0 0 0 0 0 0
TOTAL CAPITALIZATION AND LIABILITIES $3,993 $3,697 $3,264 $0 $32,847 ($3,993)
</TABLE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 32
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
Thousands of Dollars Telesat
<CAPTION> Cablevision Cable Adjusting
of South Cable LP Cable Cable &
Florida, LP I, (Pasco), GP, LP III, Elim.
INCOME STATEMENT Inc. Inc. Inc. Inc. Inc. Entries
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $0 $0 $0 $0 $0 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 0 0 0 0 0 0
Depreciation & amortization 0 0 0 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 0 0 0 0 0 0
OPERATING INCOME 0 0 0 0 0 0
OTHER INCOME (DEDUCTIONS):
Interest charges 0 0 0 0 0 0
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net 3,812 11,861 0 0 (5,656) (3,812)
Interest expense and other - net 3,812 11,861 0 0 (5,656) (3,812)
INCOME BEFORE INCOME TAXES 3,812 11,861 0 0 (5,656) (3,812)
INCOME TAXES 0 4,575 0 0 (2,182) 0
NET INCOME (LOSS) 3,812 7,286 0 0 (3,474) (3,812)
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (1,065) (1,065) 0 0 0 1,065
DEDUCT:
Dividends 0 0 0 0 0 0
Other (1,246) (1,246) 0 0 0 1,246
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $3,993 $7,467 $0 $0 ($3,474) ($3,993)
</TABLE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 33
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995 Telesat
Thousands of Dollars Cablevision
<CAPTION> of South
Florida,
Inc.
ASSETS Consolidated
<S> <C>
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant - at cost $0
Nuclear fuel under capital lease 0
Construction work in progress 0
Other property 0
Less accumulated depr. & amort. 0
Total property, plant and eqpt. - net 0
CURRENT ASSETS
Cash and cash equivalents 0
Customer receivables - net 0
Materials, supplies & fossil fuel stock 0
Deferred clause expenses 0
Other 1,065
Total current assets 1,065
OTHER ASSETS:
Special use funds of FPL 0
Other investments 38,369
Unamort. debt reacquisition costs of FPL 0
Other 374
Total other assets 38,743
TOTAL ASSETS $39,808
CAPITALIZATION
Common shareholders' equity $3,993
Pref. stock without sinking fund requirement 0
Pref. stock with sinking fund requirements 0
Long-term debt 0
Total capitalization 3,993
CURRENT LIABILITIES
Commercial paper 0
Cur. matur. of long-term debt & pref. stock 0
Accounts payable 0
Customers' deposits 0
Accrued interest and taxes 0
Deferred clause revenues 0
Other 35,815
Total current liabilities 35,815
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 0
Deferred regulatory credit - income taxes 0
Unamortized investment tax credits 0
Other 0
Total other liabilities & deferred credit 0
TOTAL CAPITALIZATION AND LIABILITIES $39,808
</TABLE>
<PAGE>
<TABLE>
TELESAT CABLEVISION, INC. AND SUBSIDIARIES 34
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995 Telesat
Thousands of Dollars Cablevision
<CAPTION> of South
Florida,
Inc.
INCOME STATEMENT Consolidated
<S> <C>
OPERATING REVENUES $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0
Other operations and maintenance 0
Depreciation & amortization 0
Taxes other than income taxes 0
Total operating expenses 0
OPERATING INCOME 0
OTHER INCOME (DEDUCTIONS):
Interest charges 0
Preferred stock dividend requirements 0
Other-net 6,205
Interest expense and other - net 6,205
INCOME BEFORE INCOME TAXES 6,205
INCOME TAXES 2,393
NET INCOME (LOSS) 3,812
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (1,065)
DEDUCT:
Dividends 0
Other (1,246)
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $3,993
</TABLE>
<PAGE>
<TABLE>
TURNER FOODS CORPORATION AND SUBSIDIARIES 35
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
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
Nuclear fuel under capital lease 0 0 0 0 0 0
Construction work in progress 0 0 0 0 0 0
Other property 111,855 63,584 1,843 0 15 0
Less accumulated depr. & amort. 18,235 14,728 487 0 14 0
Total property, plant and eqpt. - net 93,620 48,856 1,356 0 1 0
CURRENT ASSETS
Cash and cash equivalents 2,959 55 0 0 0 0
Customer receivables - net 1,803 115 4 0 123 3
Materials, supplies & fossil fuel stock 15,789 681 136 0 0 0
Deferred clause expenses 0 0 0 0 0 0
Other 7,033 7 0 12 0 10
Total current assets 27,584 858 140 12 123 13
OTHER ASSETS:
Special use funds of FPL 0 0 0 0 0 0
Other investments 0 113 0 0 0 0
Unamort. debt reacquisition costs of FPL 0 0 0 0 0 0
Other 48 6 0 13 0 190
Total other assets 48 119 0 13 0 190
TOTAL ASSETS $121,252 $49,833 $1,496 $25 $124 $203
CAPITALIZATION
Common shareholders' equity $98,432 $36,491 $2,101 $524 ($104) $327
Pref. stock without sinking fund requirement 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 98,432 36,491 2,101 524 (104) 327
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 2,173 1 0 0 0 0
Customers' deposits 55 0 0 0 121 0
Accrued interest and taxes 15 0 0 0 0 0
Deferred clause revenues 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total current liabilities 2,243 1 0 0 121 0
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 20,577 13,341 (605) (499) 107 (124)
Deferred regulatory credit - income taxes 0 0 0 0 0 0
Unamortized investment tax credits 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other liabilities & deferred credit 20,577 13,341 (605) (499) 107 (124)
TOTAL CAPITALIZATION AND LIABILITIES $121,252 $49,833 $1,496 $25 $124 $203
</TABLE>
<PAGE>
<TABLE>
TURNER FOODS CORPORATION AND SUBSIDIARIES 36
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
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 $28,883 $10,918 $158 ($149) $128 $0
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0 0 0 0 0
Other operations and maintenance 21,588 7,355 153 0 121 0
Depreciation & amortization 3,012 1,880 71 0 0 0
Taxes other than income taxes 0 0 0 0 0 0
Total operating expenses 24,600 9,235 224 0 121 0
OPERATING INCOME 4,283 1,683 (66) (149) 7 0
OTHER INCOME (DEDUCTIONS):
Interest charges 0 0 0 0 0 0
Preferred stock dividend requirements 0 0 0 0 0 0
Other-net 1,162 45 (1) 11 0 18
Interest expense and other - net 1,162 45 (1) 11 0 18
INCOME BEFORE INCOME TAXES 5,445 1,728 (67) (138) 7 18
INCOME TAXES 1,582 870 (14) 1 4 5
NET INCOME (LOSS) 3,863 858 (53) (139) 3 13
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR 11,057 19,583 573 (1,435) 43 (992)
DEDUCT:
Dividends 3,863 0 0 0 0 0
Other 0 0 0 0 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR $11,057 $20,441 $520 ($1,574) $46 ($979)
</TABLE>
<PAGE>
<TABLE>
TURNER FOODS CORPORATION AND SUBSIDIARIES 37
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
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
Nuclear fuel under capital lease 0 0
Construction work in progress 0 0
Other property 0 177,297
Less accumulated depr. & amort. 0 33,464
Total property, plant and eqpt. - net 0 143,833
CURRENT ASSETS
Cash and cash equivalents 0 3,014
Customer receivables - net 0 2,048
Materials, supplies & fossil fuel stock 0 16,606
Deferred clause expenses 0 0
Other 0 7,062
Total current assets 0 28,730
OTHER ASSETS:
Special use funds of FPL 0 0
Other investments 0 113
Unamort. debt reacquisition costs of FPL 0 0
Other 0 257
Total other assets 0 370
TOTAL ASSETS $0 $172,933
CAPITALIZATION
Common shareholders' equity $0 $137,771
Pref. stock without sinking fund requirement 0 0
Pref. stock with sinking fund requirements 0 0
Long-term debt 0 0
Total capitalization 0 137,771
CURRENT LIABILITIES
Commercial paper 0 0
Cur. matur. of long-term debt & pref. stock 0 0
Accounts payable 0 2,174
Customers' deposits 0 176
Accrued interest and taxes 0 15
Deferred clause revenues 0 0
Other 0 0
Total current liabilities 0 2,365
OTHER LIABILITIES AND DEFERRED CREDITS
Accumulated deferred income taxes 0 32,797
Deferred regulatory credit - income taxes 0 0
Unamortized investment tax credits 0 0
Other 0 0
Total other liabilities & deferred credit 0 32,797
TOTAL CAPITALIZATION AND LIABILITIES $0 $172,933
</TABLE>
<PAGE>
<TABLE>
TURNER FOODS CORPORATION AND SUBSIDIARIES 38
CONSOLIDATING STATEMENTS OF INCOME AND
RETAINED EARNINGS
DECEMBER 31, 1995
Thousands of Dollars
<CAPTION> Adjusting Turner
& Foods
Elim. Corporation
INCOME STATEMENT Entries Consolidated
<S> <C> <C>
OPERATING REVENUES $0 $39,938
OPERATING EXPENSES
Fuel, purchased power & interchange 0 0
Other operations and maintenance 0 29,217
Depreciation & amortization 0 4,963
Taxes other than income taxes 0 0
Total operating expenses 0 34,180
OPERATING INCOME 0 5,758
OTHER INCOME (DEDUCTIONS):
Interest charges 0 0
Preferred stock dividend requirements 0 0
Other-net (682) 553
Interest expense and other - net (682) 553
INCOME BEFORE INCOME TAXES (682) 6,311
INCOME TAXES 0 2,448
NET INCOME (LOSS) (682) 3,863
RETAINED EARNINGS (DEFICIT) AT BEG. OF YEAR (17,772) 11,057
DEDUCT:
Dividends 0 3,863
Other 0 0
RETAINED EARNINGS (DEFICIT) AT END OF YEAR ($18,454) $11,057
</TABLE>
<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.
- ESI Antilles, Inc.
- ESI Australia II, Inc.
- ESI Cherokee GP, Inc.
- ESI Cherokee LP, Inc.
- CH Ormesa, Inc.
- CH POSDEF, Inc.
- ESI Dixie Valley LP, Inc.
- ESI Dominican Republic, Inc.
- ESI Jonesboro LP, Inc.
- ESI Operating Services, Inc.
- ESI Panama, Inc.
- ESI Philippines, Inc.
- ESI URI, Inc.
- ESI West Enfield LP, 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.
- Alpha Joshua (Prime), Inc.
- Alpha Mariah (Prime), Inc.
- Beta Mariah (Prime), Inc.
- Beta Willow (Prime), Inc.
Separate financial statements are not presented for Bay
Loan and Investment Bank since it is classified as
discontinued operations.
2. Not-for-Profit Corporations
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. FPL Historical Museum (the Museum) is a
not-for-profit corporation formed to collect and
preserve tangible objects that help interpret or
describe the history of Florida Power & Light Company.
The Foundation and the Museum operate independently of
FPL Group, Inc., and consolidation of their
not-for-profit financial statements with FPL Group,
Inc.'s financial statements is not appropriate. Total
assets of the Foundation and the Museum were
approximately $3.9 million and $.2 million,
respectively, at December 31, 1995.
3. Sale of Subsidiaries
Qualtec Quality Services, Inc. was sold in 1995.
<PAGE>
Claimant has caused this statement to be duly executed on its behalf
by its authorized officer this 28th day of February, 1996.
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>
EXHIBIT B
The Financial Data Schedule is included as Exhibit 27 at the
conclusion of this document.
<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 do 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>
APPENDIX 1
SUBSIDIARIES OF FPL GROUP, INC.
<TABLE>
<CAPTION>
Jurisdic-
tion of
Incor-
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 financial 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 stock of and provides the funding
for the operating companies other than FPL.
*Alandco Inc. Florida North Palm Beach, Holds real estate investments.
FL
**Alandco I, Inc. Florida North Palm Beach, Holds real estate investments.
FL
**Alandco/Cascade, Inc. Florida North Palm Beach, Holds real estate investments.
FL
**TWC Sixty-Three, Inc. Florida North Palm Beach, Inactive.
FL
*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 Owns a general partnership interest in a
transmission line.
**Alpha Mariah (Prime), Inc. California San Francisco, CA Owns a general partnership interest in a
transmission line.
**Beta Mariah (Prime), Inc. California San Francisco, CA Owns a general partnership interest in a
transmission line.
**Beta Willow (Prime), Inc. California San Francisco, CA Owns a general partnership interest 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 waste coal energy
projects.
**ESI Bay Area, Inc. Florida West Palm Beach, FL Participates in a wind-powered 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.
***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 a wind-powered project.
**ESI Cherokee GP, Inc. Florida West Palm Beach, FL Participates in a gas-fired co-generation
project.
**ESI Cherokee LP, Inc. Florida West Palm Beach, FL Participates in a gas-fired co-generation
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 Formed to pursue energy-related business
opportunities in the Dominican Republic.
**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 Jonesboro LP, 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-burning 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 Panama, Inc. Florida West Palm Beach, FL Participates in a 100 mw thermal power
project.
**ESI Philippines, Inc. Florida West Palm Beach, FL Formed to pursue energy-related business
opportunities in the Philippines.
**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 Steamboat, Inc. Florida West Palm Beach, FL Formed to service a loan.
**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 wind-powered project.
**ESI West Enfield, Inc. Florida West Palm Beach, FL Participates in a wood-burning electric
generating project.
**ESI West Enfield LP, 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.
**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 Holds certain fixed assets used by
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 Holds commercial and consumer loans and time
Bank Island deposits. Bay Loan was reclassified to dis-
continued 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 immaterial assets and
liabilities, but no longer actively in business.
*QualTec Professional Florida Palm Beach Holds certain immaterial assets and
Services, Inc. Gardens, FL liabilities, but no longer actively in
business.
*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 GP, Inc. Florida Pompano Beach, FL Owns a general partnership interest in a
cable television joint venture.
***Cable LP I, Inc. Florida Pompano Beach, FL Owns limited partnership interests in
cable television joint ventures.
***Cable LP II, Inc. Florida Pompano Beach, FL Inactive.
***Cable LP III, Inc. Florida Pompano Beach, FL Owns a limited partnership interest in a
cable television joint venture.
***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 The physical assets of the company were sold
Services Company, Inc. during October 1993. The company now holds
a mortgage receivable secured by these assets.
***AMS Realty, Inc. Florida Punta Gorda, FL Operates an agricultural real estate brokerage
business.
***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 investment securities.
</TABLE>
<PAGE>
APPENDIX 2
PROPERTIES OF FLORIDA POWER & LIGHT COMPANY
Generating Facilities. As of December 31, 1995, FPL had the
following generating facilities:
<TABLE>
<CAPTION>
No. of Net Warm Weather
Facility Location Units Fuel Peaking 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 538
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 580
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 625(3)
Turkey Point ........................... Florida City, FL 2 Oil/Gas 810
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 624
Lauderdale ............................. Dania, FL 24 Oil/Gas 864
Port Everglades ........................ Port Everglades, FL 12 Oil/Gas 432
DIESEL UNITS
Turkey Point ........................... Florida City, FL 5 Oil 14
TOTAL .................................... 16,312
(1) Represents FPL's 20% individual ownership interest in SJRPP Units Nos. 1 and 2, which are jointly owned with the JEA.
(2) Excludes Orlando Utilities Commission's and the FMPA's combined share of approximately 15% of St. Lucie Unit No. 2.
(3) Represents FPL's approximately 76% ownership of Scherer Unit No. 4, which is jointly owned with the JEA.
</TABLE>
Transmission and Distribution. FPL owns and operates 470 substations
with a total capacity of 102,052,570 kva. Electric transmission and
distribution lines owned and in service as of December 31, 1995 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 ............................................................ 2,476 31
138 kv ............................................................ 1,487 48
115 kv ............................................................ 675 -
69 kv ............................................................ 167 15
Less than 69 kv ................................................... 18,719 38,584
Total ............................................................. 24,574 38,678
(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 consolidated balance sheet as of December 31, 1995
and consolidated statement of income for the twelve months ended December 31, 1995 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-31-1995
<PERIOD-START> JAN-1-1995
<PERIOD-END> DEC-31-1995
<PERIOD-TYPE> 12-MOS
<EXCHANGE-RATE> 1
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> $12,459,226
<TOTAL-OPERATING-REVENUES> $5,592,485
<NET-INCOME> $553,311
</TABLE>
|
|