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Previous: MANUFACTURERS LIFE INSURANCE CO OF NORTH AMERICA SEP ACC A, 485APOS, 1998-02-27 |
Next: INSURED TAX FREE INCOME TRUST NATIONAL SERIES 85-1, NSAR-U, 1998-02-27 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM U-3A-2
File No.
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
SCANA CORPORATION
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:
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.
SCANA Corporation is a South Carolina corporation incorporated
in 1984 and has its principal executive office at 1426 Main Street,
Columbia, South Carolina 29201.
Claimant currently has thirteen direct and seven indirect
wholly owned subsidiaries. The principal business of the
subsidiaries, collectively, is the generation, transmission,
distribution and sale of electricity in South Carolina and the
purchase, transmission, distribution, storage and sale of natural
gas and propane in South Carolina.
The claimant's wholly owned subsidiaries are as follows:
(1) South Carolina Electric & Gas Company (SCE&G), a South
Carolina corporation, generates and sells electricity
to wholesale and retail customers, purchases, sells
and transports natural gas at retail and provides
public transit service in Columbia, South Carolina.
SCE&G holds all of the common beneficial ownership
interests in one immaterial subsidiary;
(2) South Carolina Generating Company, Inc. (GENCO), a
South Carolina corporation, owns and operates Williams
Station, a 560 MW coal-fired electric generating
plant, and sells electricity to SCE&G;
(3) South Carolina Fuel Company, Inc., a South Carolina
corporation, acquires, owns and provides financing for
SCE&G's nuclear fuel, fossil fuel and sulfur dioxide
emission allowances;
1
<PAGE>
(4) SCANA Propane Gas, Inc. (Propane Gas), purchases,
delivers, and sells propane. Propane Gas holds all the
capital stock of two immaterial subsidiaries;
(5) SCANA Resources, Inc., a South Carolina corporation,
conducts energy-related businesses and services.
SCANA Resources, Inc. holds all of the capital
stock of one immaterial subsidiary;
(6) SCANA Communications, Inc., a South Carolina
corporation, provides fiber optic telecommunications
and invests in companies developing personal
communications services for wireless communications;
(7) SCANA Energy Marketing, Inc., a South Carolina
corporation, markets electricity, natural gas and
other light hydrocarbons;
(8) ServiceCare, Inc., a South Carolina corporation,
provides energy-related products and services beyond
the energy meter, principally service contracts on
home appliances and home security services;
(9) Primesouth, Inc., a South Carolina corporation,
engages in power plant management and maintenance
services. Primesouth, Inc. holds all of the capital
stock of one immaterial subsidiary;
(10) South Carolina Pipeline Corporation, a South Carolina
corporation, purchases, sells and transports natural
gas to wholesale and direct industrial customers and
owns and operates two liquified natural gas plants.
South Carolina Pipeline Corporation holds all the
capital stock of one immaterial subsidiary;
(11) SCANA Propane Services, Inc., a South Carolina
corporation, owns and operates an underground propane
storage facility and leases cavern storage to
industries, utilities and others;
(12) SCANA Petroleum Resources, Inc. (Petroleum Resources),
a South Carolina corporation sold substantially all
of its assets for $110 million. Petroleum Resources
holds all of the capital stock of one immaterial
subsidiary. Petroleum Resources is in the process of
liquidation;
(13) SCANA Development Corporation (Development
Corporation), a South Carolina corporation, has
engaged in the acquisition, development, management
and sale of real estate. Development Corporation has
sold a significant portion of its properties and is in
the process of liquidation.
2
<PAGE>
2. A brief description 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.
A. Description of properties of claimant:
SCANA Corporation owns no such property. It holds all the
capital stock and equity interests of each of its
subsidiaries except for (i) the preferred stock of SCE&G,
(ii) the capital stock of USA Cylinder Exchange, Inc. and
SCANA Propane Supply Inc., which capital stock is held by
SCANA Propane Gas, (iii) the capital stock of C&T Pipeline
Company, L.L.C, which capital stock is held by South
Carolina Pipeline Corporation, (iv) the capital stock of
Palmark, Inc., which capital stock is held by Primesouth,
Inc., (v) the capital stock of Instel, Inc., which capital
stock is held by SCANA Resources, Inc., (vi) the capital
stock of SPR Gas Services, Inc., which capital stock is
held by Petroleum Resources and (vii) the common
beneficial ownership interests in SCE&G Trust I which are
held by SCE&G and the preferred beneficial ownership
interests in SCE&G Trust I.
B. Description of properties of claimant's wholly owned
subsidiary public utility companies:
3
<PAGE>
SOUTH CAROLINA ELECTRIC & GAS COMPANY
The following table gives information with respect to
electric generating facilities of SCE&G.
Net Generating
Capability
Type Name Location (Kilowatts)(1)
Steam Canadys Canadys, SC 430,000
McMeekin Irmo, SC 252,000
Urquhart Beech Island, SC 250,000
Wateree Eastover, SC 700,000
Summer (2) Parr, SC 635,000
Cope (3) Cope, SC 408,000
D-Area (4) DOE Savannah River
Site, SC 35,000
Gas Turbines Burton Burton, SC 28,500
Faber Place Charleston, SC 9,500
Hardeeville Hardeeville, SC 14,000
Urquhart Beech Island, SC 38,000
Coit Columbia, SC 30,000
Parr Parr, SC 60,000
Williams(5) Goose Creek, SC 49,000
Hagood Charleston, SC 95,000
Hydro Columbia Columbia, SC 10,000
Neal Shoals Carlisle, SC 5,000
Parr Shoals Parr, SC 14,000
Saluda Irmo, SC 206,000
Stevens Creek Martinez, GA 9,000
Pumped Storage Fairfield Parr, SC 512,000
Total 3,790,000
(1) Summer rating.
(2) Operated by SCE&G under a joint ownership agreement.
Represents SCE&G's two-thirds ownership of the Summer
Station.
(3) Plant began commercial operation in January, 1996.
(4) This plant is operated under lease from the Department of
Energy (DOE) and is dispatched to DOE's Savannah River
Site steam needs. "Net Generating Capability" for this
plant is expected average hourly output. The lease
expires on October 1, 2005.
(5) The two gas turbines at Williams were purchased upon
expiration of the lease on June 29, 1997.
All purchases, deliveries and sales of electricity take
place within the State of South Carolina or as interstate
commerce at the State line.
SCE&G owns 428 substations having an aggregate transformer
capacity of 21,356,393 KVA. The transmission system consists
of 3,122 miles of lines and the distribution system consists of
16,129 pole miles of overhead lines and 3,500 trench miles of
underground lines.
4
<PAGE>
SCE&G's gas system consists of approximately 7,082 miles
of three-inch equivalent distribution pipelines and
approximately 11,668 miles of distribution mains and related
service facilities, installed in communities pursuant to terms
of franchises granted by each community. SCE&G has propane air
peak shaving facilities which can supplement the supply of
natural gas by gasifying propane to yield the equivalent of
approximately 102,000 MCF of natural gas per day.
All purchases, deliveries and sales of gas take place
within the State of South Carolina.
SOUTH CAROLINA GENERATING COMPANY, INC. (GENCO)
GENCO owns Williams Station, a 560 MW coal-fired generating
plant located in Goose Creek, South Carolina, and sells
electricity to SCE&G. All sales and deliveries take place
within the State of South Carolina.
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), and MCF of natural or manufactured gas
distributed at retail.
Claimant
SCANA Corporation: None
Subsidiary Public Utility Companies
SCE&G:
17,394,168,673 KWH
22,214,364 MCF
GENCO:
Sold all of the generation of Williams Station
(4,315,781,000 KWH) to SCE&G under a unit power sales
agreement.
(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.
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.
754,961,000 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.
136,878,000 KWH
5
<PAGE>
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.
None
(b) Name of each system company that holds an interest
in such EWG or foreign utility company; and
description of the interest held.
None
(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.
None
(d) Capitalization and earnings of the EWG or foreign
utility company during the reporting period.
None
(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
EXHIBIT A
A consolidating statement of income and retained earnings
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.
6
<PAGE>
<TABLE>
SCANA CORPORATION
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA
SCANA ELECTRIC & GAS SOUTH CAROLINA
CORPORATION COMPANY GENERATING
CONSOLIDATED CONSOLIDATED COMPANY, INC.
<S> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC 1,103,031 1,103,091 99,773
GAS 418,711 233,562
TRANSIT 1,607 1,607
TOTAL OPERATING REVENUES 1,523,349 1,338,260 99,773
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION 248,402 180,914 67,488
PURCHASED POWER 9,398 109,171
GAS PURCHASED FOR RESALE 286,463 151,902
OTHER OPERATION 238,744 222,252 5,519
MAINTENANCE 71,637 67,521 2,255
DEPRECIATION AND AMORTIZATION 153,093 139,644 7,020
INCOME TAXES 105,440 98,050 716
OTHER TAXES 95,913 86,713 5,165
TOTAL OPERATING EXPENSES 1,209,090 1,056,167 88,163
OPERATING INCOME 314,259 282,093 11,610
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION 7,133 6,038 61
OTHER INCOME, NET OF INCOME TAXES 30,502 4,195 (6)
TOTAL OTHER INCOME 37,635 10,233 55
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 351,894 292,326 11,665
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 115,437 95,530 7,076
OTHER INTEREST EXPENSE 11,761 6,304 93
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION (5,932) (4,829) (138)
TOTAL INTEREST CHARGES, NET 121,266 97,005 7,031
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 230,628 195,321 4,634
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G -- OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES 661 661
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 229,967 194,660 4,634
PREFERRED STOCK CASH DIVIDENDS (9,241) (9,241)
NET INCOME 220,726 185,419 4,634
RETAINED EARNINGS AT BEGINNING OF YEAR 558,166 415,485 9,555
COMMON STOCK CASH DIVIDENDS DECLARED (161,739) (162,600) (3,400)
RETAINED EARNINGS AT END OF YEAR 617,153 438,304 10,789
EARNINGS AVAILABLE FOR COMMON STOCK 220,726
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING 107,069
EARNINGS PER SHARE OF COMMON STOCK 2.06
7
<PAGE>
SCANA CORPORATION
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA SOUTH CAROLINA SCANA SCANA PRIMESOUTH,
FUEL PIPELINE CORP. DEVELOPMENT COMMUNICATIONS, INC.
COMPANY, INC. CONSOLIDATED CORPORATION INC. CONSOLIDATED
<S> <C>
OPERATING REVENUES:
ELECTRIC 175,784
GAS 339,855
TRANSIT
TOTAL OPERATING REVENUES 175,784 339,855
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION 170,917
PURCHASED POWER
GAS PURCHASED FOR RESALE 289,267
OTHER OPERATION 43 11,033
MAINTENANCE 1,861
DEPRECIATION AND AMORTIZATION 6,429
INCOME TAXES 6,674
OTHER TAXES 4,035
TOTAL OPERATING EXPENSES 170,960 319,299
OPERATING INCOME 4,824 20,556
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION 1,034
OTHER INCOME, NET OF INCOME TAXES 80 668 8,204 (208)
TOTAL OTHER INCOME 1,114 668 8,204 (208)
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 4,824 21,670 668 8,204 (208)
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 4,253 1,428 3 3
OTHER INTEREST EXPENSE 1,428 2,258 668 9,551 10
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION (857) (108)
TOTAL INTEREST CHARGES, NET 4,824 3,578 668 9,554 13
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 18,092 (1,350) (221)
PREFERRED DIVIDEND REQUIREMENT OF
COMPANY -- OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 18,092 (1,350) (221)
PREFERRED STOCK CASH DIVIDENDS
NET INCOME 18,092 (1,350) (221)
RETAINED EARNINGS AT BEGINNING OF YEAR 42,426 (545) 11,624 (7,363)
COMMON STOCK CASH DIVIDENDS DECLARED (16,400)
RETAINED EARNINGS AT END OF YEAR 44,118 (545) 10,274 (7,584)
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
8
<PAGE>
SCANA CORPORATION
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SCANA SCANA
RESOURCES, PETROLEUM SCANA PROPANE
SCANA ENERGY INC. RESOURCES, INC. GAS, INC.
MARKETING, INC. CONSOLIDATED CONSOLIDATED CONSOLIDATED
<S> <C> <S> <C> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC
GAS
TRANSIT
TOTAL OPERATING REVENUES
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION
PURCHASED POWER
GAS PURCHASED FOR RESALE
OTHER OPERATION
MAINTENANCE
DEPRECIATION AND AMORTIZATION
INCOME TAXES
OTHER TAXES
TOTAL OPERATING EXPENSES
OPERATING INCOME
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION
OTHER INCOME, NET OF INCOME TAXES (1,101) 616 20,501 2,009
TOTAL OTHER INCOME (1,101) 616 20,501 2,009
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS (1,101) 616 20,501 2,009
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET
OTHER INTEREST EXPENSE 296 189 3,197 99
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 296 189 3,197 99
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES (1,397) 427 17,304 1,910
PREFERRED DIVIDEND REQUIREMENT OF
COMPANY -- OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS (1,397) 427 17,304 1,910
PREFERRED STOCK CASH DIVIDENDS
NET INCOME (1,397) 427 17,304 1,910
RETAINED EARNINGS AT BEGINNING OF YEAR (2,608) (107) (71,683) 14,371
COMMON STOCK CASH DIVIDENDS DECLARED (28,200) (11,800)
RETAINED EARNINGS AT END OF YEAR (4,005) 320 (82,579) 4,481
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
9
<PAGE>
SCANA CORPORATION
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SCANA PROPANE SCANA
SERVICECARE, INC. SERVICES, INC. CORPORATION ELIMINATIONS
<S> <C> <S> <C> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC (275,617)
GAS (154,706)
TRANSIT
TOTAL OPERATING REVENUES (430,323)
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION (170,917)
PURCHASED POWER (99,773)
GAS PURCHASED FOR RESALE (154,706)
OTHER OPERATION (103)
MAINTENANCE
DEPRECIATION AND AMORTIZATION
INCOME TAXES
OTHER TAXES
TOTAL OPERATING EXPENSES (425,499)
OPERATING INCOME (4,824)
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS 226,102 (226,102)
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION
OTHER INCOME, NET OF INCOME TAXES 134 1,607 11,606 (17,803)
TOTAL OTHER INCOME 134 1,607 237,708 (243,905)
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 134 1,607 237,708 (248,729)
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 10,540 (3,396)
OTHER INTEREST EXPENSE 250 207 6,442 (19,231)
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 250 207 16,982 (22,627)
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES (116) 1,400 220,726 (226,102)
PREFERRED DIVIDEND REQUIREMENT OF
COMPANY -- OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS (116) 1,400 220,726 (226,102)
PREFERRED STOCK CASH DIVIDENDS
NET INCOME (116) 1,400 220,726 (226,102)
RETAINED EARNINGS AT BEGINNING OF YEAR (1,567) 293 558,166 (409,881)
COMMON STOCK CASH DIVIDENDS DECLARED (800) (161,739) 223,200
RETAINED EARNINGS AT END OF YEAR (1,683) 893 617,153 (412,783)
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
10
<PAGE>
SOUTH CAROLINA SOUTH CAROLINA
ELECTRIC & GAS ELECTRIC & GAS
COMPANY COMPANY SCE&G
CONSOLIDATED UNCONSOLIDATED TRUST I ELIMINATIONS
<S> <C> <C>
OPERATING REVENUES:
ELECTRIC 1,103,091 1,103,091
GAS 233,562 233,562
TRANSIT 1,607 1,607
TOTAL OPERATING REVENUES 1,338,260 1,338,260
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION 180,914 180,914
PURCHASED POWER 109,171 109,171
GAS PURCHASED FOR RESALE 151,902 151,902
OTHER OPERATION 222,252 222,252
MAINTENANCE 67,521 67,521
DEPRECIATION AND AMORTIZATION 139,644 139,644
INCOME TAXES 98,050 98,050
OTHER TAXES 86,713 86,713
TOTAL OPERATING EXPENSES 1,056,167 1,056,167
OPERATING INCOME 282,093 282,093
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION 6,038 6,038
OTHER INCOME, NET OF INCOME TAXES 4,195 4,247 661 (713)
TOTAL OTHER INCOME 10,233 10,285 661 (713)
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 292,326 292,378 661 (713)
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 95,530 95,530
OTHER INTEREST EXPENSE 6,304 7,017 (713)
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION (4,829) (4,829)
TOTAL INTEREST CHARGES, NET 97,005 97,718 (713)
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 195,321 194,660 661
PREFERRED DIVIDEND REQUIREMENT OF COMPANY
--OBLIGATED MANDATORILY REDEEMABLE
PREFERRED SECURITIES 661 661
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 194,660 194,660
PREFERRED STOCK CASH DIVIDENDS (9,241) (9,241)
NET INCOME 185,419 185,419
RETAINED EARNINGS AT BEGINNING OF YEAR 415,485 415,485
COMMON STOCK CASH DIVIDENDS DECLARED (162,600) (162,600)
RETAINED EARNINGS AT END OF YEAR 438,304 438,304
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
11
<PAGE>
SOUTH CAROLINA SOUTH CAROLINA C&T PIPELINE
PIPELINE CORP. PIPELINE CORP. COMPANY
CONSOLIDATED UNCONSOLIDATED L.L.C.
<S> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC
GAS 339,855 339,584 271
TRANSIT
TOTAL OPERATING REVENUES 339,855 339,584 271
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION
PURCHASED POWER
GAS PURCHASED FOR RESALE 289,267 289,267
OTHER OPERATION 11,033 10,902 131
MAINTENANCE 1,861 1,854 7
DEPRECIATION AND AMORTIZATION 6,429 6,256 173
INCOME TAXES 6,674 6,687 (13)
OTHER TAXES 4,035 4,007 28
TOTAL OPERATING EXPENSES 319,299 318,973 326
OPERATING INCOME 20,556 20,611 (55)
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION 1,034 1,034
OTHER INCOME, NET OF INCOME TAXES 80 80
TOTAL OTHER INCOME 1,114 1,114
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 21,670 21,725 (55)
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 1,428 1,428
OTHER INTEREST EXPENSE 2,258 2,258
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION (108) (108)
TOTAL INTEREST CHARGES, NET 3,578 3,578
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 18,092 18,147 (55)
PREFERRED DIVIDEND REQUIREMENT OF COMPANY
--OBLIGATED MANDATORILY REDEEMABLE
PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 18,092 18,147 (55)
PREFERRED STOCK CASH DIVIDENDS
NET INCOME 18,092 18,147 (55)
RETAINED EARNINGS AT BEGINNING OF YEAR 42,426 42,121 305
COMMON STOCK CASH DIVIDENDS DECLARED (16,400) (16,400)
RETAINED EARNINGS AT END OF YEAR 44,118 43,868 250
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
12
<PAGE>
PRIMESOUTH, INC. PRIMESOUTH, INC.
CONSOLIDATED UNCONSOLIDATED PALMARK, INC. ELIMINATIONS
<S> <C> <S> <C> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC
GAS
TRANSIT
TOTAL OPERATING REVENUES
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION
PURCHASED POWER
GAS PURCHASED FOR RESALE
OTHER OPERATION
MAINTENANCE
DEPRECIATION AND AMORTIZATION
INCOME TAXES
OTHER TAXES
TOTAL OPERATING EXPENSES
OPERATING INCOME
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION
OTHER INCOME, NET OF INCOME TAXES (208) (215) (37) 44
TOTAL OTHER INCOME (208) (215) (37) 44
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS (208) (215) (37) 44
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 3 2 1
OTHER INTEREST EXPENSE 10 4 6
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 13 6 7
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES (221) (221) (44) 44
PREFERRED DIVIDEND REQUIREMENT OF
COMPANY -- OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS (221) (221) (44) 44
PREFERRED STOCK CASH DIVIDENDS
NET INCOME (221) (221) (44) 44
RETAINED EARNINGS AT BEGINNING OF YEAR (7,363) (7,363) (20) 20
COMMON STOCK CASH DIVIDENDS DECLARED
RETAINED EARNINGS AT END OF YEAR (7,584) (7,584) (64) 64
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
13
<PAGE>
SCANA SCANA
RESOURCES, INC. RESOURCES, INC.
CONSOLIDATED UNCONSOLIDATED INSTEL, INC.
<S> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC
GAS
TRANSIT
TOTAL OPERATING REVENUES
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION
PURCHASED POWER
GAS PURCHASED FOR RESALE
OTHER OPERATION
MAINTENANCE
DEPRECIATION AND AMORTIZATION
INCOME TAXES
OTHER TAXES
TOTAL OPERATING EXPENSES
OPERATING INCOME
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION
OTHER INCOME, NET OF INCOME TAXES 616 168 448
TOTAL OTHER INCOME 616 168 448
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 616 168 448
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 189 40 149
OTHER INTEREST EXPENSE
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 189 40 149
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 427 128 299
PREFERRED DIVIDEND REQUIREMENT OF
COMPANY -- OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 427 128 299
PREFERRED STOCK CASH DIVIDENDS
NET INCOME 427 128 299
RETAINED EARNINGS AT BEGINNING OF YEAR (107) (95) (12)
COMMON STOCK CASH DIVIDENDS DECLARED
RETAINED EARNINGS AT END OF YEAR 320 33 287
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
14
<PAGE>
SCANA SCANA
PETROLEUM PETROLEUM
RESOURCES, INC. RESOURCES, INC. SPR GAS
CONSOLIDATED UNCONSOLIDATED SERVICES, INC.
<S> <C> <C>
OPERATING REVENUES:
ELECTRIC
GAS
TRANSIT
TOTAL OPERATING REVENUES
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION
PURCHASED POWER
GAS PURCHASED FOR RESALE
OTHER OPERATION
MAINTENANCE
DEPRECIATION AND AMORTIZATION
INCOME TAXES
OTHER TAXES
TOTAL OPERATING EXPENSES
OPERATING INCOME
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION
OTHER INCOME, NET OF INCOME TAXES 20,501 20,501
TOTAL OTHER INCOME 20,501 20,501
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 20,501 20,501
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET
OTHER INTEREST EXPENSE 3,197 3,197
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 3,197 3,197
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 17,304 17,304
PREFERRED DIVIDEND REQUIREMENT OF
COMPANY -- OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 17,304 17,304
PREFERRED STOCK CASH DIVIDENDS
NET INCOME 17,304 17,304
RETAINED EARNINGS AT BEGINNING OF YEAR (71,683) (71,683)
COMMON STOCK CASH DIVIDENDS DECLARED (28,200) (28,200)
RETAINED EARNINGS AT END OF YEAR (82,579) (82,579)
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
15
<PAGE>
SCANA SCANA USA SCANA
PROPANE GAS, INC. PROPANE GAS, INC. CYLINDER PROPANE
CONSOLIDATED UNCONSOLIDATED EXCHANGE, INC. SUPPLY, INC. ELIMINATIONS
<S> <C> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC
GAS
TRANSIT
TOTAL OPERATING REVENUES
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION
PURCHASED POWER
GAS PURCHASED FOR RESALE
OTHER OPERATION
MAINTENANCE
DEPRECIATION AND AMORTIZATION
INCOME TAXES
OTHER TAXES
TOTAL OPERATING EXPENSES
OPERATING INCOME
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION
OTHER INCOME, NET OF INCOME TAXES 2,009 876 251 882
TOTAL OTHER INCOME 2,009 876 251 882
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 2,009 876 251 882
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET
OTHER INTEREST EXPENSE 99 99
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 99 99
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 1,910 777 251 882
PREFERRED DIVIDEND REQUIREMENT OF
COMPANY -- OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 1,910 777 251 882
PREFERRED STOCK CASH DIVIDENDS
NET INCOME 1,910 777 251 882
RETAINED EARNINGS AT BEGINNING OF YEAR 14,371 12,144 546 1,681
COMMON STOCK CASH DIVIDENDS DECLARED (11,800) (11,800)
RETAINED EARNINGS AT END OF YEAR 4,481 1,121 797 2,563
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
16
<PAGE>
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA
SCANA ELECTRIC & GAS SOUTH CAROLINA SOUTH CAROLINA
CORPORATION COMPANY GENERATING FUEL
CONSOLIDATED CONSOLIDATED COMPANY, INC. COMPANY, INC.
<S> <C> <C> <C>
ASSETS
UTILITY PLANT:
ELECTRIC 4,292,597 4,020,165 272,432
GAS 580,023 352,387
OTHER 83,898 83,898
TOTAL 4,956,518 4,456,450 272,432
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 1,619,314 1,421,015 103,280
TOTAL 3,337,204 3,035,435 169,152
CONSTRUCTION WORK IN PROGRESS 233,820 221,187 4,379
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION 53,239 53,239
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT 24,178
UTILITY PLANT, NET 3,648,441 3,256,622 173,531 53,239
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 70,108 11,869
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES 20
INVESTMENTS 253,890 5,285
TOTAL OTHER PROPERTY & INVESTMENTS 323,998 17,174
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 59,662 6,021
RECEIVABLES - CUSTOMER AND OTHER 288,450 163,926 326 40
RECEIVABLES - ASSOCIATED COMPANIES 13,132 9,139
INVENTORIES (AT AVERAGE COST):
FUEL 50,539 3,369 5,004 20,066
MATERIALS & SUPPLIES 51,786 47,439 1,564
PREPAYMENTS 15,989 9,520 546 325
DEFERRED INCOME TAXES 24,926 20,871
TOTAL CURRENT ASSETS 491,352 264,278 16,579 20,431
DEFERRED DEBITS:
EMISSION ALLOWANCES 30,587 30,587
ENVIRONMENTAL 32,376 32,376
NUCLEAR PLANT DECOMMISSIONING FUND 48,789 48,789
PENSION ASSET 82,177 82,177
OTHER 274,306 259,740 1,218
TOTAL DEFERRED DEBITS 468,235 423,082 1,218 30,587
TOTAL 4,932,026 3,961,156 191,328 104,257
17
<PAGE>
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA
SCANA ELECTRIC & GAS SOUTH CAROLINA SOUTH CAROLINA
CORPORATION COMPANY GENERATING FUEL
CONSOLIDATED CONSOLIDATED COMPANY, INC. COMPANY, INC.
CAPITALIZATION & LIABILITIES
<S> <C> <C> <C> <C>
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 1,787,931 1,446,686 30,789 1
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS) 106,260 106,260
TOTAL STOCKHOLDERS' INVESTMENT 1,894,191 1,552,946 30,789 1
PREFERRED STOCK (SUBJ TO PURCHASE OR
SINKING FUNDS) 11,995 11,995
SCE&G OBLIGATED MANDATORILY REDEEMABLE
PREFERRED SECURITIES OF SCE&G's SUBSIDIARY
TRUST, SCE&G TRUST I, HOLDING SOLELY $50
MILLION PRINCIPAL AMOUNT OF THE 7.55%
JUNIOR SUBORDINATED DEBENTURES OF SCE&G,
DUE 2027 50,000 50,000
LONG-TERM DEBT, NET 1,566,417 1,181,463 88,450 80,272
TOTAL CAPITALIZATION 3,522,603 2,796,404 119,239 80,273
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS 58,502 13,300
CURRENT PORTION OF LONG-TERM DEBT 73,044 47,743 3,700
CURRENT PORTION OF PREFERRED STOCK 560 560
ACCOUNTS PAYABLE 130,542 38,148 5,748 14,819
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 32,675 1,250 11,698
CUSTOMER DEPOSITS 17,914 16,661
TAXES ACCRUED 59,032 47,558 4,427 (2,549)
INTEREST ACCRUED 26,609 22,148 596 12
DIVIDENDS DECLARED 42,856 57,728 800
OTHER 13,423 5,057 1 5
TOTAL CURRENT LIABILITIES 422,482 281,578 16,522 23,985
DEFERRED CREDITS:
DEFERRED INVESTMENT TAX CREDITS 97,983 89,356 7,278
DEFERRED INCOME TAXES 612,504 539,327 42,724 (1)
RESERVE FOR NUCLEAR PLANT DECOMMISSIONING 48,789 48,789
POSTRETIREMENT BENEFITS 61,000 61,000
OTHER 166,665 144,702 5,565
TOTAL DEFERRED CREDITS 986,941 883,174 55,567 (1)
TOTAL 4,932,026 3,961,156 191,328 104,257
18
<PAGE>
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA SCANA SCANA PRIMESOUTH,
PIPELINE CORP. DEVELOPMENT COMMUNICATIONS, INC.
CONSOLIDATED CORPORATION INC. CONSOLIDATED
<S> <C>
ASSETS
UTILITY PLANT:
ELECTRIC
GAS 227,636
TRANSIT
COMMON
TOTAL 227,636
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 95,019
TOTAL 132,617
CONSTRUCTION WORK IN PROGRESS 8,254
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT 24,178
UTILITY PLANT, NET 165,049
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 15,872 15,247 57
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 2 55 234,842 724
TOTAL OTHER PROPERTY & INVESTMENTS 2 15,927 250,089 781
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 1,696 43 529 712
RECEIVABLES - CUSTOMER AND OTHER 23,754 5,159 42,005 285
RECEIVABLES - ASSOCIATED COMPANIES 22,459 18 345
INVENTORIES (AT AVERAGE COST):
FUEL 16,832
MATERIALS & SUPPLIES 317 306
PREPAYMENTS 967 141 283 762
DEFERRED INCOME TAXES 2,158 38 100
TOTAL CURRENT ASSETS 68,183 5,343 43,179 2,204
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 6,904 2,225 349 6
TOTAL DEFERRED DEBITS 6,904 2,225 349 6
TOTAL 240,138 23,495 293,617 2,991
19
<PAGE>
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA SCANA SCANA PRIMESOUTH,
PIPELINE CORP. DEVELOPMENT COMMUNICATIONS, INC.
CONSOLIDATED CORPORATION INC. CONSOLIDATED
CAPITALIZATION & LIABILITIES
<S> <C> <C> <C> <C>
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 98,236 12,003 73,137 2,187
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 98,236 12,003 73,137 2,187
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
LONG-TERM DEBT, NET 66,588 9,962 20
TOTAL CAPITALIZATION 164,824 21,965 73,137 2,207
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT 1,250
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 35,837 (10) 693 23
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 728 362 197,680 60
CUSTOMER DEPOSITS 45
TAXES ACCRUED 3,686 (63) 2,300 (13)
INTEREST ACCRUED 888
DIVIDENDS DECLARED 9,600
OTHER 481 40 159 617
TOTAL CURRENT LIABILITIES 52,515 329 200,832 687
DEFERRED CREDITS:
DEFERRED INVESTMENT TAX CREDITS 1,349
DEFERRED INCOME TAXES 17,241 15,315 (21)
RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
OTHER 4,209 1,201 4,333 118
TOTAL DEFERRED CREDITS 22,799 1,201 19,648 97
TOTAL 240,138 23,495 293,617 2,991
20
<PAGE>
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SCANA SCANA
SCANA ENERGY SCANA PETROLEUM PROPANE
MARKETING, INC. RESOURCES, INC. RESOURCES, INC. GAS, INC.
CONSOLIDATED CONSOLIDATED CONSOLIDATED
<S> <C> <S> <C> <C> <C> <C>
ASSETS
UTILITY PLANT:
ELECTRIC
GAS
TRANSIT
COMMON
TOTAL
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION
TOTAL
CONSTRUCTION WORK IN PROGRESS
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT
UTILITY PLANT, NET
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 814 645 473 16,018
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 3,073 5,389 10,545
TOTAL OTHER PROPERTY & INVESTMENTS 814 3,718 5,862 26,563
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 262 46,218 910
RECEIVABLES - CUSTOMER AND OTHER 36,898 2,410 1,146 2,883
RECEIVABLES - ASSOCIATED COMPANIES 2,570 1,729 32
INVENTORIES (AT AVERAGE COST):
FUEL 69 4,640
MATERIALS & SUPPLIES 15 474 161 1,031
PREPAYMENTS 196 72 39 208
DEFERRED INCOME TAXES 191 61 1,002 170
TOTAL CURRENT ASSETS 39,939 3,279 50,295 9,874
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 1,238 57 (27) (17)
TOTAL DEFERRED DEBITS 1,238 57 (27) (17)
TOTAL 41,991 7,054 56,130 36,420
21
<PAGE>
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SCANA
SCANA ENERGY SCANA PETROLEUM PROPANE
MARKETING, INC. RESOURCES, INC. RESOURCES, INC. GAS, INC.
CONSOLIDATED CONSOLIDATED CONSOLIDATED
CAPITALIZATION & LIABILITIES
<S> <C> <S>
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 4,435 1,792 8,504 16,584
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 4,435 1,792 8,504 16,584
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
LONG-TERM DEBT, NET 3,867 3,099 2,850
TOTAL CAPITALIZATION 8,302 4,891 8,504 19,434
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT 351
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 27,987 958 2,969 1,029
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 2,181 39 2,015 9,881
CUSTOMER DEPOSITS 1,208
TAXES ACCRUED 2,676 243 14,179 814
INTEREST ACCRUED
DIVIDENDS DECLARED 25,600
OTHER 14 553 810
TOTAL CURRENT LIABILITIES 32,858 2,144 44,763 13,742
DEFERRED CREDITS:
DEFERRED INVESTMENT TAX CREDITS
DEFERRED INCOME TAXES 322 19 3,244
RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
OTHER 509 2,863
TOTAL DEFERRED CREDITS 831 19 2,863 3,244
TOTAL 41,991 7,054 56,130 36,420
22
<PAGE>
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SCANA
SERVICECARE PROPANE SCANA
<S> <C> <S> <C> <C> <C>
INC. SERVICES, INC. CORPORATION ELIMINATIONS
ASSETS
UTILITY PLANT:
ELECTRIC
GAS
TRANSIT
COMMON
TOTAL
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION
TOTAL
CONSTRUCTION WORK IN PROGRESS
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT
UTILITY PLANT, NET
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 3,863 3,149 2,101
INVESTMENTS IN SUBSIDIARIES:
SECURITIES 1,696,649 (1,696,649)
ADVANCES 264,364 (264,384)
INVESTMENTS 394 (6,419)
TOTAL OTHER PROPERTY & INVESTMENTS 3,863 3,543 1,956,695 (1,961,033)
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 639 2,632
RECEIVABLES - CUSTOMER AND OTHER 6,290 319 3,009
RECEIVABLES - ASSOCIATED COMPANIES 115,671 (165,095)
INVENTORIES (AT AVERAGE COST):
FUEL 559
MATERIALS & SUPPLIES 404 75
PREPAYMENTS 2,922 8
DEFERRED INCOME TAXES 43 292
TOTAL CURRENT ASSETS 9,616 1,643 121,604 (165,095)
DEFERRED DEBITS:
EMISSION ALLOWANCES
UNAMORTIZED DEBT EXPENSE
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 98 142 2,373
TOTAL DEFERRED DEBITS 98 142 2,373
TOTAL 13,577 5,328 2,080,672 (2,126,128)
23
<PAGE>
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(THOUSANDS OF DOLLARS)
SCANA
SERVICECARE PROPANE SCANA
INC. SERVICES, INC. CORPORATION ELIMINATIONS
<S> <C> <S>
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 1,399 894 1,787,931 (1,696,647)
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 1,399 894 1,787,931 (1,696,647)
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
LONG-TERM DEBT, NET 3,800 197,400 (71,354)
TOTAL CAPITALIZATION 1,399 4,694 1,985,331 (1,768,001)
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS 45,202
CURRENT PORTION OF LONG-TERM DEBT 20,000
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 295 11 2,035
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 6,529 691 (265,789)
CUSTOMER DEPOSITS
TAXES ACCRUED (67) 192 (14,351)
INTEREST ACCRUED 3,503 (538)
DIVIDENDS DECLARED 40,928 (91,800)
OTHER 5,633 30 23
TOTAL CURRENT LIABILITIES 12,390 924 97,340 (358,127)
DEFERRED CREDITS:
DEFERRED INVESTMENT TAX CREDITS
DEFERRED INCOME TAXES (290) (5,376)
RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
OTHER (212) 3,377
TOTAL DEFERRED CREDITS (212) (290) (1,999)
TOTAL 13,577 5,328 2,080,672 (2,126,128)
24
<PAGE>
SOUTH CAROLINA SOUTH CAROLINA
ELECTRIC & GAS ELECTRIC & GAS
COMPANY COMPANY SCE&G
CONSOLIDATED UNCONSOLIDATED TRUST I ELIMINATIONS
<S> <C> <C>
ASSETS
UTILITY PLANT:
ELECTRIC 4,020,165 4,020,165
GAS 352,387 352,387
TRANSIT 3,819 3,819
COMMON 80,079 80,079
TOTAL 4,456,450 4,456,450
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 1,421,015 1,421,015
TOTAL 3,035,435 3,035,435
CONSTRUCTION WORK IN PROGRESS 221,187 221,187
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT
UTILITY PLANT, NET 3,256,622 3,256,622
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 11,869 11,869
INVESTMENTS IN SUBSIDIARIES:
SECURITIES 1,547 51,546 (53,093)
ADVANCES 20 20
INVESTMENTS 5,285 5,285
TOTAL OTHER PROPERTY & INVESTMENTS 17,174 18,721 51,546 (53,093)
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 6,021 5,968 53
RECEIVABLES - CUSTOMER AND OTHER 163,926 163,926
RECEIVABLES - ASSOCIATED COMPANIES 13,132 13,184 (52)
INVENTORIES (AT AVERAGE COST):
FUEL 3,369 3,369
MATERIALS & SUPPLIES 47,439 47,439
PREPAYMENTS 9,520 9,520
DEFERRED INCOME TAXES 20,871 20,871
TOTAL CURRENT ASSETS 264,278 264,277 53 (52)
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL 32,376 32,376
NUCLEAR PLANT DECOMMISSIONING FUND 48,789 48,789
PENSION ASSET 82,177 82,177
OTHER 259,740 259,740
TOTAL DEFERRED DEBITS 423,082 423,082
TOTAL 3,961,156 3,962,702 51,599 (53,145)
25
<PAGE>
SOUTH CAROLINA SOUTH CAROLINA
ELECTRIC & GAS ELECTRIC & GAS
COMPANY COMPANY SCE&G
CONSOLIDATED UNCONSOLIDATED TRUST I ELIMINATIONS
<S> <C> <C> <C> <C>
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 1,446,686 1,446,686 1,547 (1,547)
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS) 106,260 106,260
TOTAL STOCKHOLDERS' INVESTMENT 1,552,946 1,552,946 1,547 (1,547)
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS) 11,995 11,995
TRUST-PREFERRED SECURITIES 50,000 50,000
LONG-TERM DEBT, NET 1,181,463 1,233,009 (51,546)
TOTAL CAPITALIZATION 2,796,404 2,797,950 51,547 (53,093)
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS 13,300 13,300
CURRENT PORTION OF LONG-TERM DEBT 47,743 47,743
CURRENT PORTION OF PREFERRED STOCK 560 560
ACCOUNTS PAYABLE 38,148 38,148
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 32,675 32,675 52 (52)
CUSTOMER DEPOSITS 16,661 16,661
TAXES ACCRUED 47,558 47,558
INTEREST ACCRUED 22,148 22,148
DIVIDENDS DECLARED 57,728 57,728
OTHER 5,057 5,057
TOTAL CURRENT LIABILITIES 281,578 281,578 52 (52)
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS 89,356 89,356
ACCUMULATED DEFERRED INCOME TAXES 539,327 539,327
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING 48,789 48,789
POSTRETIREMENT BENEFITS 61,000 61,000
OTHER 144,702 144,702
TOTAL DEFERRED CREDITS 883,174 883,174
TOTAL 3,961,156 3,962,702 51,599 (53,145)
26
<PAGE>
SOUTH CAROLINA SOUTH CAROLINA C&T
PIPELINE CORP. PIPELINE CORP. PIPELINE
CONSOLIDATED UNCONSOLIDATED COMPANY, L.L.C. ELIMINATIONS
<S> <C> <C> <C>
ASSETS
UTILITY PLANT:
ELECTRIC
GAS 227,636 225,572 2,064
TRANSIT
COMMON
TOTAL 227,636 225,572 2,064
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 95,019 95,019
TOTAL 132,617 130,553 2,064
CONSTRUCTION WORK IN PROGRESS 8,254 8,254
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT 24,178 24,178
UTILITY PLANT, NET 165,049 162,985 2,064
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 2 2,392 (2,390)
TOTAL OTHER PROPERTY & INVESTMENTS 2 2,392 (2,390)
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 1,696 1,512 184
RECEIVABLES - CUSTOMER AND OTHER 23,754 23,738 16
RECEIVABLES - ASSOCIATED COMPANIES 22,459 22,164 287 8
INVENTORIES (AT AVERAGE COST):
FUEL 16,832 16,832
MATERIALS & SUPPLIES 317 163 154
PREPAYMENTS 967 956 11
DEFERRED INCOME TAXES 2,158 2,171 (13)
TOTAL CURRENT ASSETS 68,183 67,536 639 8
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 6,904 6,764 140
TOTAL DEFERRED DEBITS 6,904 6,764 140
TOTAL 240,138 239,677 2,843 (2,382)
27
<PAGE>
SOUTH CAROLINA SOUTH CAROLINA C&T
PIPELINE CORP. PIPELINE CORP. PIPELINE
CONSOLIDATED UNCONSOLIDATED COMPANY, L.L.C. ELIMINATIONS
<S> <C> <C> <C> <C>
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 98,236 97,987 2,639 (2,390)
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 98,236 97,987 2,639 (2,390)
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
TRUST-PREFERRED SECURITIES
LONG-TERM DEBT, NET 66,588 66,588
TOTAL CAPITALIZATION 164,824 164,575 2,639 (2,390)
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT 1,250 1,250
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 35,837 35,805 32
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 728 728 (8) 8
CUSTOMER DEPOSITS 45 45
TAXES ACCRUED 3,686 3,690 (4)
INTEREST ACCRUED 888 888
DIVIDENDS DECLARED 9,600 9,600
OTHER 481 481
TOTAL CURRENT LIABILITIES 52,515 52,487 20 8
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS 1,349 1,349
ACCUMULATED DEFERRED INCOME TAXES 17,241 17,057 184
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER 4,209 4,209
TOTAL DEFERRED CREDITS 22,799 22,615 184
TOTAL 240,138 239,677 2,843 (2,382)
28
<PAGE>
PRIMESOUTH, PRIMESOUTH,
INC. INC. PALMARK,
CONSOLIDATED UNCONSOLIDATED INC. ELIMINATIONS
<S> <C> <S> <C> <C>
ASSETS
UTILITY PLANT:
ELECTRIC
GAS
TRANSIT
COMMON
TOTAL
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION
TOTAL
CONSTRUCTION WORK IN PROGRESS
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT
UTILITY PLANT, NET
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 57 57
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 724 622 39 63
TOTAL OTHER PROPERTY & INVESTMENTS 781 679 39 63
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 712 517 195
RECEIVABLES - CUSTOMER AND OTHER 285 54 231
RECEIVABLES - ASSOCIATED COMPANIES 345 1,081 (736)
INVENTORIES (AT AVERAGE COST):
FUEL
MATERIALS & SUPPLIES
PREPAYMENTS 762 666 96
DEFERRED INCOME TAXES 100 100
TOTAL CURRENT ASSETS 2,204 2,418 522 (736)
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 6 6
TOTAL DEFERRED DEBITS 6 6
TOTAL 2,991 3,103 561 (673)
29
<PAGE>
PRIMESOUTH, PRIMESOUTH,
INC. INC. PALMARK,
CONSOLIDATED UNCONSOLIDATED INC. ELIMINATIONS
<S> <C> <C> <C> <C>
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 2,187 2,187 63 (63)
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 2,187 2,187 63 (63)
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
TRUST-PREFERRED SECURITIES
LONG-TERM DEBT, NET 20 20
TOTAL CAPITALIZATION 2,207 2,207 63 (63)
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 23 12 11
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 60 60 735 (735)
CUSTOMER DEPOSITS
TAXES ACCRUED (13) 26 (39)
INTEREST ACCRUED
DIVIDENDS DECLARED
OTHER 617 379 238
TOTAL CURRENT LIABILITIES 687 477 945 (735)
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ACCUMULATED DEFERRED INCOME TAXES (21) (21)
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER 118 113 5
TOTAL DEFERRED CREDITS 97 92 5
TOTAL 2,991 2,776 1,013 (798)
30
<PAGE>
SCANA SCANA
RESOURCES, INC. RESOURCES, INC.
<S> <C> <C> <C>
CONSOLIDATED UNCONSOLIDATED INSTEL, INC.
ASSETS
UTILITY PLANT:
ELECTRIC
GAS
TRANSIT
COMMON
TOTAL
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION
TOTAL
CONSTRUCTION WORK IN PROGRESS
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT
UTILITY PLANT, NET
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 645 437 208
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 3,073 3,073
TOTAL OTHER PROPERTY & INVESTMENTS 3,718 437 3,281
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 262 82 180
RECEIVABLES - CUSTOMER AND OTHER 2,410 1,899 511
RECEIVABLES - ASSOCIATED COMPANIES
INVENTORIES (AT AVERAGE COST):
FUEL
MATERIALS & SUPPLIES 474 80 394
PREPAYMENTS 72 45 27
DEFERRED INCOME TAXES 61 61
TOTAL CURRENT ASSETS 3,279 2,106 1,173
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 57 57
TOTAL DEFERRED DEBITS 57 57
TOTAL 7,054 2,543 4,511
31
<PAGE>
SCANA SCANA
RESOURCES, INC. RESOURCES, INC.
CONSOLIDATED UNCONSOLIDATED INSTEL, INC.
<S> <C> <C> <C>
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 1,792 415 1,377
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 1,792 415 1,377
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
TRUST-PREFERRED SECURITIES
LONG-TERM DEBT, NET 3,099 490 2,609
TOTAL CAPITALIZATION 4,891 905 3,986
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT 351 351
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 958 911 47
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 39 10 29
CUSTOMER DEPOSITS
TAXES ACCRUED 243 65 178
INTEREST ACCRUED
DIVIDENDS DECLARED
OTHER 553 296 257
TOTAL CURRENT LIABILITIES 2,144 1,633 511
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ACCUMULATED DEFERRED INCOME TAXES 19 19
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER
TOTAL DEFERRED CREDITS 19 19
TOTAL 7,054 2,538 4,516
32
<PAGE>
SCANA SCANA
PETROLEUM PETROLEUM
RESOURCES, INC. RESOURCES, INC. SPR GAS
<S> <C> <C> <C>
CONSOLIDATED UNCONSOLIDATED SERVICES, INC.
ASSETS
UTILITY PLANT:
ELECTRIC
GAS
TRANSIT
COMMON
TOTAL
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION
TOTAL
CONSTRUCTION WORK IN PROGRESS
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT
UTILITY PLANT, NET
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 473 473
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 5,389 5,378 11
TOTAL OTHER PROPERTY & INVESTMENTS 5,862 5,851 11
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 46,218 46,218
RECEIVABLES - CUSTOMER AND OTHER 1,146 1,146
RECEIVABLES - ASSOCIATED COMPANIES 1,729 1,729
INVENTORIES (AT AVERAGE COST):
FUEL
MATERIALS & SUPPLIES 161 161
PREPAYMENTS 39 39
DEFERRED INCOME TAXES 1,002 1,002
TOTAL CURRENT ASSETS 50,295 50,295
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER (27) (27)
TOTAL DEFERRED DEBITS (27) (27)
TOTAL 56,130 56,119 11
33
<PAGE>
SCANA SCANA
PETROLEUM PETROLEUM
RESOURCES, INC. RESOURCES, SPR GAS
CONSOLIDATED INC. SERVICES, INC.
<S> <C> <C>
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 8,504 8,493 11
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 8,504 8,493 11
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
TRUST-PREFERRED SECURITIES
LONG-TERM DEBT, NET
TOTAL CAPITALIZATION 8,504 8,493 11
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 2,969 2,969
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 2,015 2,015
CUSTOMER DEPOSITS
TAXES ACCRUED 14,179 14,179
INTEREST ACCRUED
DIVIDENDS DECLARED 25,600 25,600
OTHER
TOTAL CURRENT LIABILITIES 44,763 44,763
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ACCUMULATED DEFERRED INCOME TAXES
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER 2,863 2,863
TOTAL DEFERRED CREDITS 2,863 2,863
TOTAL 56,130 56,119 11
34
<PAGE>
SCANA SCANA
PROPANE PROPANE GAS, USA SCANA
GAS, INC. INC. CYLINDER PROPANE SUPPLY
CONSOLIDATED UNCONSOLIDATED EXCHANGE, INC. INC. ELIMINATIONS
<S> <C> <S> <C> <C> <C> <C>
ASSETS
UTILITY PLANT:
ELECTRIC
GAS
TRANSIT
COMMON
TOTAL
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION
TOTAL
CONSTRUCTION WORK IN PROGRESS
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT
UTILITY PLANT, NET
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 16,018 14,612 859 547
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 10,545 10,804 1 (260)
TOTAL OTHER PROPERTY & INVESTMENTS 26,563 25,416 859 548 (260)
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 910 1,356 365 (811)
RECEIVABLES - CUSTOMER AND OTHER 2,883 2,045 160 691 (13)
RECEIVABLES - ASSOCIATED COMPANIES 32 390 33 (391)
INVENTORIES (AT AVERAGE COST):
FUEL 4,640 1,735 8 2,897
MATERIALS & SUPPLIES 1,031 1,010 13 8
PREPAYMENTS 208 208
DEFERRED INCOME TAXES 170 170
TOTAL CURRENT ASSETS 9,874 6,914 546 2,818 (404)
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER (17) (17)
TOTAL DEFERRED DEBITS (17) (17)
TOTAL 36,420 32,313 1,405 3,366 (664)
35
<PAGE>
SCANA SCANA
PROPANE PROPANE GAS, USA SCANA
GAS, INC. INC. CYLINDER PROPANE SUPPLY
CONSOLIDATED UNCONSOLIDATED EXCHANGE, INC. INC. ELIMINATIONS
<S> <C> <C> <C> <C> <C>
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
COMMON EQUITY 16,584 14,125 747 1,972 (260)
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 16,584 14,125 747 1,972 (260)
PREFERRED STOCK (SUBJ TO PURCHASE OR
SINKING FUNDS)
TRUST-PREFERRED SECURITIES
LONG-TERM DEBT, NET 2,850 2,850
TOTAL CAPITALIZATION 19,434 16,975 747 1,972 (260)
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 1,029 267 388 759 (385)
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 9,881 9,881
CUSTOMER DEPOSITS 1,208 1,208
TAXES ACCRUED 814 103 175 536
INTEREST ACCRUED
DIVIDENDS DECLARED
OTHER 810 779 25 6
TOTAL CURRENT LIABILITIES 13,742 12,238 588 1,301 (385)
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ACCUMULATED DEFERRED INCOME TAXES 3,244 3,105 76 63
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER
TOTAL DEFERRED CREDITS 3,244 3,105 76 63
TOTAL 36,420 32,318 1,411 3,336 (645)
</TABLE>
36
<PAGE>
The above-named claimant has caused this statement to be
duly executed on its behalf by its authorized officer on this
27th day of February, 1998.
SCANA CORPORATION
(Name of Claimant)
BY: s/K. B. Marsh
(K. B. Marsh, Vice President-Finance, Chief
Financial Officer and Controller
CORPORATE SEAL
Attest:
s/Lynn M. Williams
(Lynn M. Williams, Corporate Secretary)
Name, title and address of officer to whom notices and
correspondence concerning this statement should be addressed:
H. Thomas Arthur Vice President, General Counsel
(Name) and Assistant Secretary
(Title)
1426 Main Street, Columbia, South Carolina 29201
(Address)
37
<PAGE>
EXHIBIT B. Financial Data Schedule
If, at the time a report on this form is filed, the
registrant is required to submit this report and any amendments
thereto electronically via EDGAR, the registrant shall furnish a
Financial Data Schedule. The Schedule shall set forth the
financial and other data specified below that are applicable to
the registrant on a consolidated basis.
38
<PAGE>
EXHIBIT C
An organizational chart showing the relationship of each EWG
or foreign utility company to associate companies in the holding-
company system.
N/A
39
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 1997 AND THE CONSOLIDATED
STATEMENTS OF INCOME AND RETAINED EARNINGS FOR THE TWELVE MONTHS ENDED DECEMBER
31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 4,932,026
<TOTAL-OPERATING-REVENUES> 1,523,349
<NET-INCOME> 220,726
</TABLE>
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