UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM U-3A-2/A
File No. 069-00301
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 also owns 50% of an LLC which owns a
cogeneration facility in the final stages of construction, and 49% of an
immaterial LLC which is constructing a lime production facility.
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 580
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;
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(4) SCANA Propane Gas, Inc. (Propane Gas), a South Carolina
corporation, 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. (SCI), a South Carolina corporation,
provides fiber optic telecommunications, a public safety radio
communications network and tower construction services for
wireless providers. SCI also invests in companies developing
personal communications services for wireless communications
including Powertel, Inc., a public company;
(7) SCANA Energy Marketing, Inc., a South Carolina corporation,
markets electricity, natural gas and other light hydrocarbons,
primarily in the southeast, and markets natural gas in
Georgia's deregulated natural gas market. SCANA Energy
Marketing holds 70% of the capital stock of one immaterial
subsidiary that is accounted for under the equity method;
(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 Storage, 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.
Petroleum Resources holds all of the capital stock of one
immaterial subsidiary which has no assets or operations.
Petroleum Resources and its subsidiary are 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.
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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.
B. Description of properties of claimant's wholly owned subsidiary
public utility companies:
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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 415,000
McMeekin Irmo, SC 252,000
Urquhart Beech Island, SC 250,000
Wateree Eastover, SC 720,000
Summer (2) Parr, SC 635,000
Cope Cope, SC 420,000
D-Area (3) 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 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 3,807,000
(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) 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.
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
21,928,145 KVA. The transmission system consists of 3,140 miles of lines and
the distribution system consists of 16,346 pole miles of overhead lines and
3,590 trench miles of underground lines.
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SCE&G's gas system consists of approximately approximately 11,963 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 580 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:
21,203,600,083 KWH $1,207,611,626.70 Revenue
40,005,689 MCF $ 231,834,296.36 Revenue
GENCO:
Sold all of the generation of Williams Station (3,094,069,000
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.
SCE&G:
1,361,177,000 KWH $39,301,604.47 Revenue
- MCF - Revenue
(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.
SCE&G:
698,648,000 KWH $18,545,201.97 Expense
- MCF - Expense
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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 and consolidating
balance sheet for the claimant and each subsidiary company thereof provided
herein, provided that for each of the companies in which the claimant has an
investment greater than ten percent of the outstanding voting securities, but
for which its investment does not meet the requirements for consolidation
treatment under generally accepted accounting principles, a separate statement
of income and balance sheet are provided.
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<TABLE>
<CAPTION>
SCANA CORPORATION
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA
SCANA ELECTRIC & GAS SOUTH CAROLINA
CORPORATION COMPANY GENERATING
CONSOLIDATED CONSOLIDATED COMPANY, INC.
OPERATING REVENUES:
<S> <C> <C> <C>
ELECTRIC 1,219,796 1,219,826 84,954
GAS 410,436 230,420
TRANSIT 1,575 1,575
TOTAL OPERATING REVENUES 1,631,807 1,451,821 84,954
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION 262,265 212,270 49,995
PURCHASED POWER 31,493 116,447
GAS PURCHASED FOR RESALE 269,373 142,423
OTHER OPERATION 257,102 238,700 6,480
MAINTENANCE 84,430 78,454 3,713
DEPRECIATION AND AMORTIZATION 144,872 130,668 7,164
INCOME TAXES 136,155 127,961 563
OTHER TAXES 101,582 92,353 4,684
TOTAL OPERATING EXPENSES 1,287,272 1,139,276 72,599
OPERATING INCOME 344,535 312,545 12,355
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION 7,945 6,858 174
OTHER INCOME, NET OF INCOME TAXES 5,448 6,661 (141)
TOTAL OTHER INCOME 13,393 13,519 33
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 357,928 326,064 12,388
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 120,805 94,970 6,775
OTHER INTEREST EXPENSE 9,946 7,048 355
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION (7,472) (6,933) (328)
TOTAL INTEREST CHARGES, NET 123,279 95,085 6,802
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 234,649 230,979 5,586
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G - OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES 3,775 3,775
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 230,874 227,204 5,586
PREFERRED STOCK CASH DIVIDENDS (7,456) (7,456)
NET INCOME 223,418 219,748 5,586
RETAINED EARNINGS AT BEGINNING OF YEAR 617,153 438,304 10,789
COMMON STOCK CASH DIVIDENDS DECLARED (161,711) (167,300) (3,200)
OTHER (345)
RETAINED EARNINGS AT END OF YEAR 678,515 490,752 13,175
EARNINGS AVAILABLE FOR COMMON STOCK 223,418
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING 105,337
EARNINGS PER SHARE OF COMMON STOCK 2.12
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SCANA CORPORATION
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA SOUTH CAROLINA SCANA SCANA PRIMESOUTH,
FUEL PIPELINE CORP. DEVELOPMENT COMMUNICATIONS, INC.
COMPANY, INC. CONSOLIDATED CORPORATION INC. CONSOLIDATED
<S> <C> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC 200,909
GAS 329,772
TRANSIT
TOTAL OPERATING REVENUES 200,909 329,772
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION 196,501
PURCHASED POWER
GAS PURCHASED FOR RESALE 276,684
OTHER OPERATION 30 11,973
MAINTENANCE 2,263
DEPRECIATION AND AMORTIZATION 7,040
INCOME TAXES 7,631
OTHER TAXES 4,545
TOTAL OPERATING EXPENSES 196,531 310,136
OPERATING INCOME 4,378 19,636
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION 913
OTHER INCOME, NET OF INCOME TAXES (74) 535 13,246 (46)
TOTAL OTHER INCOME 839 535 13,246 (46)
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 4,378 20,475 535 13,246 (46)
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 4,342 1,302 9 7
OTHER INTEREST EXPENSE 851 3,220 535 16,377 1
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION (815) (211)
TOTAL INTEREST CHARGES, NET 4,378 4,311 535 16,386 8
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES - 16,164 - (3,140) (54)
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G-OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 16,164 (3,140) (54)
PREFERRED STOCK CASH DIVIDENDS
NET INCOME - 16,164 - (3,140) (54)
RETAINED EARNINGS AT BEGINNING OF YEAR 44,118 (545) 10,274 (7,584)
COMMON STOCK CASH DIVIDENDS DECLARED (17,100)
RETAINED EARNINGS AT END OF YEAR 43,182 (545) 7,134 (7,638)
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
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SCANA CORPORATION
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SCANA SCANA
RESOURCES, PETROLEUM SCANA PROPANE
SCANA ENERGY INC. RESOURCES, INC. GAS, INC.
MARKETING, INC. CONSOLIDATED CONSOLIDATED CONSOLIDATED
<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 (14,179) (707) 114 1,479
TOTAL OTHER INCOME (14,179) (707) 114 1,479
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS (14,179) (707) 114 1,479
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET
OTHER INTEREST EXPENSE 325 258 2 673
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 325 258 2 673
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY
REDEEMABLE PREFERRED SECURITIES (14,504) (965) 112 806
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G-OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS (14,504) (965) 112 806
PREFERRED STOCK CASH DIVIDENDS
NET INCOME (14,504) (965) 112 806
RETAINED EARNINGS AT BEGINNING OF YEAR (4,005) 320 (82,579) 4,481
COMMON STOCK CASH DIVIDENDS DECLARED (7,200) (860)
RETAINED EARNINGS AT END OF YEAR (18,509) (645) (89,667) 4,427
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
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PAGE 10
SCANA CORPORATION
CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SCANA PROPANE SCANA
SERVICECARE, INC. STORAGE, INC. CORPORATION ELIMINATIONS
<S> <C> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC (285,893)
GAS (149,756)
TRANSIT
TOTAL OPERATING REVENUES (435,649)
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION (196,501)
PURCHASED POWER (84,954)
GAS PURCHASED FOR RESALE (149,734)
OTHER OPERATION (81)
MAINTENANCE
DEPRECIATION AND AMORTIZATION
INCOME TAXES
OTHER TAXES
TOTAL OPERATING EXPENSES (431,270)
OPERATING INCOME (4,379)
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS 223,223 (223,223)
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION
OTHER INCOME, NET OF INCOME TAXES (1,237) 1,544 21,605 (23,352)
TOTAL OTHER INCOME (1,237) 1,544 244,828 (246,575)
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS (1,237) 1,544 244,828 (250,954)
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 17,742 (4,342)
OTHER INTEREST EXPENSE 614 222 3,668 (24,203)
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION 815
TOTAL INTEREST CHARGES, NET 614 222 21,410 (27,730)
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES (1,851) 1,322 223,418 (223,224)
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G-OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS (1,851) 1,322 223,418 (223,224)
PREFERRED STOCK CASH DIVIDENDS
NET INCOME (1,851) 1,322 223,418 (223,224)
RETAINED EARNINGS AT BEGINNING OF YEAR (1,683) 893 617,153 (412,783)
COMMON STOCK CASH DIVIDENDS DECLARED (700) (161,711) 196,360
OTHER (345) (345) 345
RETAINED EARNINGS AT END OF YEAR (3,879) 1,515 678,515 (439,302)
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
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SOUTH CAROLINA SOUTH CAROLINA
ELECTRIC & GAS ELECTRIC & GAS
COMPANY COMPANY SCE&G
CONSOLIDATED UNCONSOLIDATED TRUST I ELIMINATIONS
<S> <C> <C> <C> <C>
OPERATING REVENUES:
ELECTRIC 1 219,826 1,219,826
GAS 230,420 230,420
TRANSIT 1,575 1,575
TOTAL OPERATING REVENUES 1,451,821 1,451,821
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION 212,270 212,270
PURCHASED POWER 116,447 116,447
GAS PURCHASED FOR RESALE 142,423 142,423
OTHER OPERATION 238,700 238,700
MAINTENANCE 78,454 78,454
DEPRECIATION AND AMORTIZATION 130,668 130,668
INCOME TAXES 127,961 127,961
OTHER TAXES 92,353 92,353
TOTAL OPERATING EXPENSES 1,139,276 1,139,276
OPERATING INCOME 312,545 312,545
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION 6,858 6,858
OTHER INCOME, NET OF INCOME TAXES 6,661 6,746 3,913 (3,998)
TOTAL OTHER INCOME 13,519 13,604 3 913 (3,998)
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 326,064 326,149 3,913 (3,998)
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 94,970 94,970
OTHER INTEREST EXPENSE 7,048 10,908 138 (3,998)
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION (6,933) (6,933)
TOTAL INTEREST CHARGES, NET 95,085 98,945 138 (3,998)
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 230,979 227,204 3,775
PREFERRED DIVIDEND REQUIREMENT OF SCE&G-
OBLIGATED MANDATORILY REDEEMABLE
PREFERRED SECURITIES 3,775 3,775
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 227,204 227,204
PREFERRED STOCK CASH DIVIDENDS (7,456) (7,456)
NET INCOME 219,748 219,748
RETAINED EARNINGS AT BEGINNING OF YEAR 438,304 438,304
COMMON STOCK CASH DIVIDENDS DECLARED (167,300) (167,300)
RETAINED EARNINGS AT END OF YEAR 490,752 490,752
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
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PAGE 12
SOUTH CAROLINA SOUTH CAROLINA C&T PIPELINE
PIPELINE CORP. PIPELINE CORP. COMPANY
CONSOLIDATED UNCONSOLIDATED LLC
OPERATING REVENUES:
ELECTRIC
<S> <C> <C> <C>
GAS 329,772 329,513 259
TRANSIT
TOTAL OPERATING REVENUES 329,772 329,513 259
OPERATING EXPENSES:
FUEL USED IN ELECTRIC GENERATION
PURCHASED POWER
GAS PURCHASED FOR RESALE 276,684 276,684
OTHER OPERATION 11,973 11,836 137
MAINTENANCE 2,263 2,249 14
DEPRECIATION AND AMORTIZATION 7,040 6,864 176
INCOME TAXES 7,631 7,660 (29)
OTHER TAXES 4,545 4,477 68
TOTAL OPERATING EXPENSES 310,136 309,770 366
OPERATING INCOME 19,636 19,743 (107)
OTHER INCOME:
SUBSIDIARY EQUITY EARNINGS
ALLOWANCE FOR EQUITY FUNDS USED
DURING CONSTRUCTION 913 913
OTHER INCOME, NET OF INCOME TAXES (74) (74)
TOTAL OTHER INCOME 839 839
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 20,475 20,582 (107)
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 1,302 1,302
OTHER INTEREST EXPENSE 3,220 3,220
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION (211) (211)
TOTAL INTEREST CHARGES, NET 4,311 4,311
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 16,164 16,271 (107)
PREFERRED DIVIDEND REQUIREMENT OF SCE&G-
OBLIGATED MANDATORILY REDEEMABLE
PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 16,164 16,271 (107)
PREFERRED STOCK CASH DIVIDENDS
NET INCOME 16,164 16,271 (107)
RETAINED EARNINGS AT BEGINNING OF YEAR 44,118 43,868 250
COMMON STOCK CASH DIVIDENDS DECLARED (17,100) (17,100)
RETAINED EARNINGS AT END OF YEAR 43,182 43,039 143
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
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PRIMESOUTH, INC. PRIMESOUTH, INC.
CONSOLIDATED UNCONSOLIDATED PALMARK, INC. ELIMINATIONS
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
<S> <C> <C> <C> <C>
OTHER INCOME, NET OF INCOME TAXES (46) (50) (49) 53
TOTAL OTHER INCOME (46) (50) (49) 53
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS (46) (50) (49) 53
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET 7 3 4
OTHER INTEREST EXPENSE 1 1
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 8 4 4
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES (54) (54) (53) 53
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G-OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS (54) (54) (53) 53
PREFERRED STOCK CASH DIVIDENDS
NET INCOME (54) (54) (53) 53
RETAINED EARNINGS AT BEGINNING OF YEAR (7,584) (7,584) (64) 64
COMMON STOCK CASH DIVIDENDS DECLARED
RETAINED EARNINGS AT END OF YEAR (7,638) (7,638) (117) 117
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
13
<PAGE>
PAGE 14
SCANA SCANA
RESOURCES, INC. RESOURCES, INC.
CONSOLIDATED UNCONSOLIDATED INSTEL, INC.
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
<S> <C> <C> <C>
OTHER INCOME, NET OF INCOME TAXES (707) (945) 238
TOTAL OTHER INCOME (707) (945) 238
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS (707) (945) 238
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET
OTHER INTEREST EXPENSE 258 115 143
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 258 115 143
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES (965) (1,060) 95
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G-OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS (965) (1,060) 95
PREFERRED STOCK CASH DIVIDENDS
NET INCOME (965) (1,060) 95
RETAINED EARNINGS AT BEGINNING OF YEAR 320 33 287
COMMON STOCK CASH DIVIDENDS DECLARED
RETAINED EARNINGS AT END OF YEAR (645) (1,027) 382
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
14
<PAGE>
PAGE 15
SCANA SCANA
PETROLEUM PETROLEUM
RESOURCES, INC. RESOURCES, INC. SPR GAS
CONSOLIDATED UNCONSOLIDATED SERVICES, INC.
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
<S> <C> <C>
OTHER INCOME, NET OF INCOME TAXES 114 114
TOTAL OTHER INCOME 114 114
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 114 114
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET
OTHER INTEREST EXPENSE 2 2
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 2 2
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 112 112
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G-OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS
PREFERRED STOCK CASH DIVIDENDS
NET INCOME 112 112
RETAINED EARNINGS AT BEGINNING OF YEAR (82,579) (82,579)
COMMON STOCK CASH DIVIDENDS DECLARED (7,200) (7,200)
RETAINED EARNINGS AT END OF YEAR (89,667) (89,667) -
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
15
<PAGE>
PAGE 16
SCANA SCANA USA SCANA
PROPANE GAS, INC. PROPANE GAS, INC. CYLINDER PROPANE
CONSOLIDATED UNCONSOLIDATED EXCHANGE, INC. SUPPLY, INC. ELIMINATIONS
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
<S> <C> <C> <C> <C>
OTHER INCOME, NET OF INCOME TAXES 1,479 1,017 137 325
TOTAL OTHER INCOME 1,479 1,017 137 325
INCOME BEFORE INTEREST CHARGES
AND PREFERRED STOCK DIVIDENDS 1,479 1,017 137 325
INTEREST CHARGES (CREDITS):
INTEREST ON LONG-TERM DEBT, NET
OTHER INTEREST EXPENSE 673 673
ALLOWANCE FOR BORROWED FUNDS USED
DURING CONSTRUCTION
TOTAL INTEREST CHARGES, NET 673 673
INCOME BEFORE PREFERRED DIVIDEND
REQUIREMENTS ON MANDATORILY REDEEMABLE
PREFERRED SECURITIES 806 344 137 325
PREFERRED DIVIDEND REQUIREMENT OF
SCE&G-OBLIGATED MANDATORILY
REDEEMABLE PREFERRED SECURITIES
INCOME BEFORE PREFERRED STOCK
CASH DIVIDENDS 806 344 137 325
PREFERRED STOCK CASH DIVIDENDS
NET INCOME 806 344 137 325
RETAINED EARNINGS AT BEGINNING OF YEAR 4,481 1,121 797 2,563
COMMON STOCK CASH DIVIDENDS DECLARED (860) (860)
RETAINED EARNINGS AT END OF YEAR 4,427 605 934 2,888
EARNINGS AVAILABLE FOR COMMON STOCK
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING
EARNINGS PER SHARE OF COMMON STOCK
16
<PAGE>
PAGE 17
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA
SCANA ELECTRIC & GAS SOUTH CAROLINA SOUTH CAROLINA
CORPORATION COMPANY GENERATING FUEL
CONSOLIDATED CONSOLIDATED COMPANY, INC. COMPANY, INC.
ASSETS
UTILITY PLANT:
<S> <C> <C> <C>
ELECTRIC 4,405,707 4,132,956 272,751
GAS 603,889 366,107
OTHER 3,835 3,835
COMMON 171,188 171,188
TOTAL 5,184,619 4,674,086 272,751
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 1,727,866 1,517,501 109,195
TOTAL 3,456,753 3,156,585 163,556
CONSTRUCTION WORK IN PROGRESS 250,743 219,305 22,866
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION 56,152 56,152
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT 23,415
UTILITY PLANT, NET 3,787,063 3,375,890 186,422 56,152
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 82,205 11,190
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES 40
INVESTMENTS 410,464 5,113
TOTAL OTHER PROPERTY & INVESTMENTS 492,669 16,343
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 62,012 35,583
RECEIVABLES - CUSTOMER AND OTHER 276,062 177,051 321 40
RECEIVABLES - ASSOCIATED COMPANIES 12,711 5,819
INVENTORIES (AT AVERAGE COST):
FUEL 62,896 2,989 11,645 29,207
MATERIALS & SUPPLIES 55,803 46,674 1,463
PREPAYMENTS 22,685 8,126 408 357
DEFERRED INCOME TAXES 21,790 20,790
TOTAL CURRENT ASSETS 501,248 303,924 19,656 29,604
DEFERRED DEBITS:
EMISSION ALLOWANCES 30,715 30,715
ENVIRONMENTAL 22,175 22,175
NUCLEAR PLANT DECOMMISSIONING FUND 55,891 55,891
PENSION ASSET 114,936 114,936
OTHER 276,713 251,704 2,179
TOTAL DEFERRED DEBITS 500,430 444,706 2,179 30,715
TOTAL 5,281,410 4,140,863 208,257 116,471
17
<PAGE>
PAGE 18
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA
SCANA ELECTRIC & GAS SOUTH CAROLINA SOUTH CAROLINA
CORPORATION COMPANY GENERATING FUEL
CONSOLIDATED CONSOLIDATED COMPANY, INC. COMPANY, INC.
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C> <C>
COMMON EQUITY 1,746,201 1,498,926 33,163 1
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS) 106,261 106,261
TOTAL STOCKHOLDERS' INVESTMENT 1,852,462 1,605,187 33,163 1
PREFERRED STOCK (SUBJ TO PURCHASE OR
SINKING FUNDS) 11,443 11,443
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 1,623,179 1,139,794 86,000 65,987
TOTAL CAPITALIZATION 3,537,084 2,806,424 119,163 65,988
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS 194,385 125,200
CURRENT PORTION OF LONG-TERM DEBT 106,510 29,059 3,700
CURRENT PORTION OF PREFERRED STOCK 560 560
ACCOUNTS PAYABLE 218,951 56,199 25,068 40,803
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 23,431 11,698
CUSTOMER DEPOSITS 18,375 17,123
TAXES ACCRUED 72,361 77,471 4,221 (2,743)
INTEREST ACCRUED 27,749 20,605 595 8
DIVIDENDS DECLARED 42,217 38,230 800
OTHER 12,619 8,461 81 6
TOTAL CURRENT LIABILITIES 693,727 396,339 34,465 49,772
DEFERRED CREDITS:
DEFERRED INVESTMENT TAX CREDITS 107,810 99,584 6,973
DEFERRED INCOME TAXES 627,990 548,266 42,378 711
RESERVE FOR NUCLEAR PLANT DECOMMISSIONING 55,891 55,891
POSTRETIREMENT BENEFITS 86,703 86,703
OTHER 172,205 147,656 5,278
TOTAL DEFERRED CREDITS 1,050,599 938,100 54,629 711
TOTAL 5,281,410 4,140,863 208,257 116,471
18
<PAGE>
PAGE 19
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA SCANA SCANA PRIMESOUTH,
PIPELINE CORP. DEVELOPMENT COMMUNICATIONS, INC.
CONSOLIDATED CORPORATION INC. CONSOLIDATED
ASSETS
UTILITY PLANT:
ELECTRIC
<S> <C>
GAS 237,782
TRANSIT
COMMON
TOTAL 237,782
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 101,170
TOTAL 136,612
CONSTRUCTION WORK IN PROGRESS 8,572
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT 23,415
UTILITY PLANT, NET 168,599
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 15,398 24,689 30
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 2 39 375,070 462
TOTAL OTHER PROPERTY & INVESTMENTS 2 15,437 399,759 492
CURRENT ASSETS:
<S> <C> <C> <C>
CASH AND TEMPORARY CASH INVESTMENTS 5,773 211 1,021
RECEIVABLES - CUSTOMER AND OTHER 19,159 3,633 2,562 227
RECEIVABLES - ASSOCIATED COMPANIES 16,488 86 2
INVENTORIES (AT AVERAGE COST):
FUEL 14,242
MATERIALS & SUPPLIES 350 343
PREPAYMENTS 883 188 317 866
DEFERRED INCOME TAXES 102 11 85
TOTAL CURRENT ASSETS 56,997 3,907 3,446 2,199
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 10,618 1,754 253 222
TOTAL DEFERRED DEBITS 10,618 1,754 253 222
TOTAL 236,216 21,098 403,458 2,913
19
<PAGE>
PAGE 20
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SOUTH CAROLINA SCANA SCANA PRIMESOUTH,
PIPELINE CORP. DEVELOPMENT COMMUNICATIONS, INC.
CONSOLIDATED CORPORATION INC. CONSOLIDATED
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C> <C>
COMMON EQUITY 97,300 10,390 65,788 2,133
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 97,300 10,390 65,788 2,133
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
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
LONG-TERM DEBT, NET 78,100 8,788 310,699 40
TOTAL CAPITALIZATION 175,400 19,178 376,487 2,173
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT 1,250
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 28,801 67 2,282 20
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 578 339 2,074 9
CUSTOMER DEPOSITS 13
TAXES ACCRUED 3,251 527 (1,661) 31
INTEREST ACCRUED 904
DIVIDENDS DECLARED 2,300
OTHER 599 51 154 597
TOTAL CURRENT LIABILITIES 37,696 984 2,849 657
DEFERRED CREDITS:
DEFERRED INVESTMENT TAX CREDITS 1,253
DEFERRED INCOME TAXES 19,277 936 18,334 (8)
RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
OTHER 2,590 5,788 91
TOTAL DEFERRED CREDITS 23,120 936 24,122 83
TOTAL 236,216 21,098 403,458 2,913
20
<PAGE>
PAGE 21
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SCANA SCANA
SCANA ENERGY SCANA PETROLEUM PROPANE
MARKETING, INC. RESOURCES, INC. RESOURCES, INC. GAS, INC.
CONSOLIDATED CONSOLIDATED CONSOLIDATED
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:
<S> <C> <C> <C> <C>
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 4,451 994 9 16,851
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 739 2,897 10,235
TOTAL OTHER PROPERTY & INVESTMENTS 5,190 3,891 9 27,086
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 714 373 808
RECEIVABLES - CUSTOMER AND OTHER 57,894 3,033 1,391 2,120
RECEIVABLES - ASSOCIATED COMPANIES 689 1 4,000 161
INVENTORIES (AT AVERAGE COST):
FUEL 4,241
MATERIALS & SUPPLIES 4,920 656 953
PREPAYMENTS 739 68 (49) 261
DEFERRED INCOME TAXES 40 100 (59) 161
TOTAL CURRENT ASSETS 64,996 4,231 5,283 8,705
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 2,822 11 156
TOTAL DEFERRED DEBITS 2,822 11 156
TOTAL 73,008 8,133 5,292 35,947
21
<PAGE>
PAGE 22
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SCANA SCANA
SCANA ENERGY SCANA PETROLEUM PROPANE
MARKETING, INC. RESOURCES, INC. RESOURCES, INC. GAS, INC.
CONSOLIDATED CONSOLIDATED CONSOLIDATED
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C> <C>
COMMON EQUITY (3,007) 975 1,416 16,530
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT (3,007) 975 1,416 16,530
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
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
LONG-TERM DEBT, NET 19,835 6,036 12,867
TOTAL CAPITALIZATION 16,828 7,011 1,416 29,397
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT 101
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 57,993 471 3,361 572
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 821 270 42 261
CUSTOMER DEPOSITS 1,239
TAXES ACCRUED (3,509) (645) (414) 456
INTEREST ACCRUED
DIVIDENDS DECLARED 100
OTHER 65 867 807
TOTAL CURRENT LIABILITIES 55,370 1,064 3,089 3,335
DEFERRED CREDITS:
DEFERRED INVESTMENT TAX CREDITS
DEFERRED INCOME TAXES (29) 58 (1) 3,215
RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
OTHER 839 788
TOTAL DEFERRED CREDITS 810 58 787 3,215
TOTAL 73,008 8,133 5,292 35,947
22
<PAGE>
PAGE 23
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SCANA
SERVICECARE PROPANE SCANA
INC. STORAGE, 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:
<S> <C> <C> <C>
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 3,741 2,884 1,968
INVESTMENTS IN SUBSIDIARIES:
SECURITIES 1,724,556 (1,724,556)
ADVANCES 430,867 (430,907)
INVESTMENTS 476 15,431
TOTAL OTHER PROPERTY & INVESTMENTS 3,741 3,360 2,172,822 (2,155,463)
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 158 912 16,459
RECEIVABLES - CUSTOMER AND OTHER 1,300 466 15,653 (8,788)
RECEIVABLES - ASSOCIATED COMPANIES 670 44,255 (84,882)
INVENTORIES (AT AVERAGE COST):
FUEL 572
MATERIALS & SUPPLIES 305 139
PREPAYMENTS 10,512 9
DEFERRED INCOME TAXES 225 44 291
TOTAL CURRENT ASSETS 13,170 2,142 76,658 (93,670)
DEFERRED DEBITS:
EMISSION ALLOWANCES
UNAMORTIZED DEBT EXPENSE
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 290 6,704
TOTAL DEFERRED DEBITS 290 6,704
TOTAL 17,201 5,502 2,256,184 (2,249,133)
23
<PAGE>
PAGE 24
SCANA CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(THOUSANDS OF DOLLARS)
SCANA
SERVICECARE PROPANE SCANA
INC. STORAGE, INC. CORPORATION ELIMINATIONS
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C> <C>
COMMON EQUITY (797) 1,516 1,746,423 (1,724,556)
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT (797) 1,516 1,746,423 (1,724,556)
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
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
LONG-TERM DEBT, NET 16,274 3,454 315,000 (439,695)
TOTAL CAPITALIZATION 15,477 4,970 2,061,423 (2,164,251)
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS 69,185
CURRENT PORTION OF LONG-TERM DEBT 72,400
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 975 1 2,338
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 718 512 4,053 (44,806)
CUSTOMER DEPOSITS
TAXES ACCRUED (611) 219 (4,232)
INTEREST ACCRUED 6,213 (576)
DIVIDENDS DECLARED 40,287 (39,500)
OTHER 714 32 185
TOTAL CURRENT LIABILITIES 1,796 764 190,429 (84,882)
DEFERRED CREDITS:
DEFERRED INVESTMENT TAX CREDITS
DEFERRED INCOME TAXES 116 (232) (5,031)
RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
OTHER (188) 9,363
TOTAL DEFERRED CREDITS (72) (232) 4,332
TOTAL 17,201 5,502 2,256,184 (2,249,133)
24
<PAGE>
PAGE 25
SOUTH CAROLINA SOUTH CAROLINA
ELECTRIC & GAS ELECTRIC & GAS
COMPANY COMPANY SCE&G
CONSOLIDATED UNCONSOLIDATED TRUST I ELIMINATIONS
ASSETS
UTILITY PLANT:
<S> <C> <C>
ELECTRIC 4,132,956 4,132,956
GAS 366,107 366,107
TRANSIT 3,835 3,835
COMMON 171,188 171,188
TOTAL 4,674,086 4,674,086
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 1,517,501 1,517,501
TOTAL 3,156,585 3,156,585
CONSTRUCTION WORK IN PROGRESS 219,305 219,305
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT
UTILITY PLANT, NET 3,375,890 3,375,890
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 11,190 11,190
INVESTMENTS IN SUBSIDIARIES:
SECURITIES 1,547 51,547 (53,094)
ADVANCES 40 40
INVESTMENTS 5,113 5,113
TOTAL OTHER PROPERTY & INVESTMENTS 16,343 17,890 51,547 (53,094)
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 35,583 35,583
RECEIVABLES - CUSTOMER AND OTHER 177,051 177,051
RECEIVABLES - ASSOCIATED COMPANIES 12,711 12,711
INVENTORIES (AT AVERAGE COST):
FUEL 2,989 2,989
MATERIALS & SUPPLIES 46,674 46,674
PREPAYMENTS 8,126 8,126
DEFERRED INCOME TAXES 20,790 20,790
TOTAL CURRENT ASSETS 303,924 303,924
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL 22,175 22,175
NUCLEAR PLANT DECOMMISSIONING FUND 114,936 114,936
PENSION ASSET 55,891 55,891
OTHER 251,704 251,704
TOTAL DEFERRED DEBITS 444,706 444,706
TOTAL 4,140,863 4,142,410 51,547 (53,094)
25
<PAGE>
PAGE 26
SOUTH CAROLINA SOUTH CAROLINA
ELECTRIC & GAS ELECTRIC & GAS
COMPANY COMPANY SCE&G
CONSOLIDATED UNCONSOLIDATED TRUST I ELIMINATIONS
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C> <C>
COMMON EQUITY 1,498,926 1,498,926 1,547 (1,547)
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS) 106,261 106,261
TOTAL STOCKHOLDERS' INVESTMENT 1,605,187 1,605,187 1,547 (1,547)
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS) 11,443 11,443
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 1,139,794 1,191,341 (51,547)
TOTAL CAPITALIZATION 2,806,424 2,807,971 51,547 (53,094)
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS 125,200 125,200
CURRENT PORTION OF LONG-TERM DEBT 29,059 29,059
CURRENT PORTION OF PREFERRED STOCK 560 560
ACCOUNTS PAYABLE 56,199 56,199
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 23,431 23,431
CUSTOMER DEPOSITS 17,123 17,123
TAXES ACCRUED 77,471 77,471
INTEREST ACCRUED 20,605 20,605
DIVIDENDS DECLARED 38,230 38,230
OTHER 8,461 8,461
TOTAL CURRENT LIABILITIES 396,339 396,339
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS 99,584 99,584
ACCUMULATED DEFERRED INCOME TAXES 548,266 548,266
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING 55,891 55,891
POSTRETIREMENT BENEFITS 86,703 86,703
OTHER 147,656 147,656
TOTAL DEFERRED CREDITS 938,100 938,100
TOTAL 4,140,863 4,142,410 51,547 (53,094)
26
<PAGE>
PAGE 27
SOUTH CAROLINA SOUTH CAROLINA C&T
PIPELINE CORP. PIPELINE CORP. PIPELINE
CONSOLIDATED UNCONSOLIDATED COMPANY, L.L.C. ELIMINATIONS
ASSETS
UTILITY PLANT:
ELECTRIC
<S> <C> <C> <C>
GAS 237,782 231,382 6,400
TRANSIT
COMMON
TOTAL 237,782 231,382 6,400
LESS ACCUMULATED DEPRECIATION AND AMORTIZATION (101,170) (96,712) (4,458)
TOTAL 136,612 134,670 1,942
CONSTRUCTION WORK IN PROGRESS 8,572 8,572
NUCLEAR FUEL, NET OF ACCUMULATED AMORTIZATION
ACQUISITION ADJUSTMENT - GAS, NET OF ACCUM AMORT 23,415 23,415
UTILITY PLANT, NET 168,599 166,657 1,942
OTHER PROPERTY AND INVESTMENTS:
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 2 2
TOTAL OTHER PROPERTY & INVESTMENTS 2 2
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 5,773 5,478 295
RECEIVABLES - CUSTOMER AND OTHER 19,159 19,152 7
RECEIVABLES - ASSOCIATED COMPANIES 16,488 18,634 293 (2,439)
INVENTORIES (AT AVERAGE COST):
FUEL 14,242 14,242
MATERIALS & SUPPLIES 350 196 154
PREPAYMENTS 883 874 9
DEFERRED INCOME TAXES 102 102
TOTAL CURRENT ASSETS 56,997 58,678 758 (2,439)
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 10,618 10,480 138
TOTAL DEFERRED DEBITS 10,618 10,480 138
TOTAL 236,216 235,817 2,838 (2,439)
27
<PAGE>
PAGE 28
SOUTH CAROLINA SOUTH CAROLINA C&T
PIPELINE CORP. PIPELINE CORP. PIPELINE
CONSOLIDATED UNCONSOLIDATED COMPANY, L.L.C. ELIMINATIONS
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C>
COMMON EQUITY 97,300 97,158 142
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 97,300 97,158 142
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
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
LONG-TERM DEBT, NET 78,100 78,100
TOTAL CAPITALIZATION 175,400 175,258 142
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT 1,250 1,250
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 28,801 28,744 57
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 578 578 2,439 (2,439)
CUSTOMER DEPOSITS 13 13
TAXES ACCRUED 3,251 3,280 (29)
INTEREST ACCRUED 904 904
DIVIDENDS DECLARED 2,300 2,300
OTHER 599 599
TOTAL CURRENT LIABILITIES 37,696 37,668 2,467 (2,439)
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS 1,253 1,253
ACCUMULATED DEFERRED INCOME TAXES 19,277 19,048 229
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER 2,590 2,590
TOTAL DEFERRED CREDITS 23,120 22,891 229
TOTAL 236,216 235,817 2,838 (2,439)
28
<PAGE>
PAGE 29
PRIMESOUTH, PRIMESOUTH,
INC. INC. PALMARK,
CONSOLIDATED UNCONSOLIDATED INC. 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:
<S> <C> <C>
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 30 30
INVESTMENTS IN SUBSIDIARIES:
SECURITIES (116) 116
ADVANCES
INVESTMENTS 462 462
TOTAL OTHER PROPERTY & INVESTMENTS 492 376 116
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 1,021 430 591
RECEIVABLES - CUSTOMER AND OTHER 227 173 54
RECEIVABLES - ASSOCIATED COMPANIES 904 (904)
INVENTORIES (AT AVERAGE COST):
FUEL
MATERIALS & SUPPLIES
PREPAYMENTS 866 584 282
DEFERRED INCOME TAXES 85 85
TOTAL CURRENT ASSETS 2,199 2,176 927 (904)
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 222 222
TOTAL DEFERRED DEBITS 222 222
TOTAL 2,913 2,774 927 (788)
29
<PAGE>
PAGE 30
PRIMESOUTH, PRIMESOUTH,
INC. INC. PALMARK,
CONSOLIDATED UNCONSOLIDATED INC. ELIMINATIONS
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C> <C>
COMMON EQUITY 2,133 2,133 (116) 116
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 2,133 2,133 (116) 116
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
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
LONG-TERM DEBT, NET 40 40
TOTAL CAPITALIZATION 2,173 2,173 (116) 116
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 20 20
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 9 9 904 (904)
CUSTOMER DEPOSITS
TAXES ACCRUED 31 92 (61)
INTEREST ACCRUED
DIVIDENDS DECLARED
OTHER 597 397 200
TOTAL CURRENT LIABILITIES 657 518 1,043 (904)
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ACCUMULATED DEFERRED INCOME TAXES (8) (8)
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER 91 91
TOTAL DEFERRED CREDITS 83 83
TOTAL 2,913 2,774 927 (788)
30
<PAGE>
PAGE 31
SCANA SCANA
RESOURCES, INC. RESOURCES, INC.
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:
<S> <C> <C> <C>
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 994 818 176
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS 2,897 2,897
TOTAL OTHER PROPERTY & INVESTMENTS 3,891 818 3,073
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 373 288 85
RECEIVABLES - CUSTOMER AND OTHER 3,033 2,238 795
RECEIVABLES - ASSOCIATED COMPANIES 1 1
INVENTORIES (AT AVERAGE COST):
FUEL
MATERIALS & SUPPLIES 656 202 454
PREPAYMENTS 68 53 15
DEFERRED INCOME TAXES 100 1 99
TOTAL CURRENT ASSETS 4,231 2,783 1,448
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 11 11
TOTAL DEFERRED DEBITS 11 11
TOTAL 8,133 3,612 4,521
31
<PAGE>
PAGE 32
SCANA SCANA
RESOURCES, INC. RESOURCES, INC.
CONSOLIDATED UNCONSOLIDATED INSTEL, INC.
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C>
COMMON EQUITY 975 (497) 1,472
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 975 (497) 1,472
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
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
LONG-TERM DEBT, NET 6,036 3,669 2,367
TOTAL CAPITALIZATION 7,011 3,172 3,839
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT 101 101
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 471 387 84
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 270 32 238
CUSTOMER DEPOSITS
TAXES ACCRUED (645) (700) 55
INTEREST ACCRUED
DIVIDENDS DECLARED
OTHER 867 600 267
TOTAL CURRENT LIABILITIES 1,064 420 644
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ACCUMULATED DEFERRED INCOME TAXES 58 20 38
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER
TOTAL DEFERRED CREDITS 58 20 38
TOTAL 8,133 3,612 4,521
32
<PAGE>
PAGE 33
SCANA SCANA
PETROLEUM PETROLEUM
RESOURCES, INC. RESOURCES, INC. SPR GAS
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:
<S> <C> <C>
NONUTILITY PROPERTY, NET OF ACCUM DEPRECIATION 9 9
INVESTMENTS IN SUBSIDIARIES:
SECURITIES
ADVANCES
INVESTMENTS
TOTAL OTHER PROPERTY & INVESTMENTS 9 9
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS
RECEIVABLES - CUSTOMER AND OTHER 1,391 1,391
RECEIVABLES - ASSOCIATED COMPANIES 4,000 4,000
INVENTORIES (AT AVERAGE COST):
FUEL
MATERIALS & SUPPLIES
PREPAYMENTS (49) (49)
DEFERRED INCOME TAXES (59) (59)
TOTAL CURRENT ASSETS 5,283 5,283
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER
TOTAL DEFERRED DEBITS
TOTAL 5,292 5,292 -
33
<PAGE>
PAGE 34
SCANA SCANA
PETROLEUM PETROLEUM
RESOURCES, INC. RESOURCES, SPR GAS
CONSOLIDATED INC. SERVICES, INC.
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C>
COMMON EQUITY 1,416 1,416
PREFERRED STOCK (NOT SUBJECT TO PURCHASE OR
SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 1,416 1 416
PREFERRED STOCK (SUBJ TO PURCHASE OR SINKING FUNDS)
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
LONG-TERM DEBT, NET
TOTAL CAPITALIZATION 1,416 1,416
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 3,361 3,361
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 42 42
CUSTOMER DEPOSITS
TAXES ACCRUED (414) (414)
INTEREST ACCRUED
DIVIDENDS DECLARED 100 100
OTHER
TOTAL CURRENT LIABILITIES 3,089 3,089
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ACCUMULATED DEFERRED INCOME TAXES (1) (1)
ACCUM RESERVE FOR NUCLEAR PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER 788 788
TOTAL DEFERRED CREDITS 787 787
TOTAL 5,292 5,292 -
34
<PAGE>
PAGE 35
SCANA SCANA
PROPANE PROPANE GAS, USA SCANA
GAS, INC. INC. CYLINDER PROPANE SUPPLY
CONSOLIDATED UNCONSOLIDATED EXCHANGE, INC. INC. 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
<S> <C> <C> <C> <C> <C>
DEPRECIATION 16,851 15,502 908 430 11
INVESTMENTS IN SUBSIDIARIES:
SECURITIES 259 1 (260)
ADVANCES
INVESTMENTS 10,235 10,235
TOTAL OTHER PROPERTY & INVESTMENTS 27,086 25,996 908 431 (249)
CURRENT ASSETS:
CASH AND TEMPORARY CASH INVESTMENTS 808 1,896 94 (1,181) (1)
RECEIVABLES - CUSTOMER AND OTHER 2,120 1,956 115 512 (463)
RECEIVABLES - ASSOCIATED COMPANIES 161 161
INVENTORIES (AT AVERAGE COST):
FUEL 4,241 1,868 23 2,350
MATERIALS & SUPPLIES 953 935 11 7
PREPAYMENTS 261 192 69
DEFERRED INCOME TAXES 161 161
TOTAL CURRENT ASSETS 8,705 7,169 243 1,688 (395)
DEFERRED DEBITS:
EMISSION ALLOWANCES
ENVIRONMENTAL
NUCLEAR PLANT DECOMMISSIONING FUND
PENSION ASSET
OTHER 156 154 2
TOTAL DEFERRED DEBITS 156 154 2
TOTAL 35,947 33,319 1,153 2,119 (644)
35
<PAGE>
PAGE 36
SCANA SCANA
PROPANE PROPANE GAS, USA SCANA
GAS, INC. INC. CYLINDER PROPANE SUPPLY
CONSOLIDATED UNCONSOLIDATED EXCHANGE, INC. INC. ELIMINATIONS
CAPITALIZATION & LIABILITIES
STOCKHOLDERS' INVESTMENT:
<S> <C> <C> <C> <C> <C>
COMMON EQUITY 16,530 14,510 883 1,397 (260)
PREFERRED STOCK (NOT SUBJECT TO
PURCHASE OR SINKING FUNDS)
TOTAL STOCKHOLDERS' INVESTMENT 16,530 14,510 883 1,397 (260)
PREFERRED STOCK (SUBJ TO PURCHASE OR
SINKING FUNDS)
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
LONG-TERM DEBT, NET 12,867 12,867
TOTAL CAPITALIZATION 29,397 27,377 883 1,397 (260)
CURRENT LIABILITIES:
SHORT-TERM BORROWINGS
CURRENT PORTION OF LONG-TERM DEBT
CURRENT PORTION OF PREFERRED STOCK
ACCOUNTS PAYABLE 572 525 17 414 (384)
ACCOUNTS PAYABLE - ASSOCIATED COMPANIES 261 176 61 24
CUSTOMER DEPOSITS 1,239 1,239
TAXES ACCRUED 456 158 93 205
INTEREST ACCRUED
DIVIDENDS DECLARED
OTHER 807 774 27 6
TOTAL CURRENT LIABILITIES 3,335 2,872 198 649 (384)
DEFERRED CREDITS:
ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ACCUMULATED DEFERRED INCOME TAXES 3,215 3,070 72 73
ACCUM RESERVE FOR NUCLEAR
PLANT DECOMMISSIONING
POSTRETIREMENT BENEFITS
OTHER
TOTAL DEFERRED CREDITS 3,215 3,070 72 73
TOTAL 35,947 33,319 1,153 2,119 (644)
36
</TABLE>
<PAGE>
PAGE 37
COGEN SOUTH LLC
Statement of Income
December 31, 1998
(Thousands of Dollars)
Sales 2,958
Cost of products sold 2,958
Depreciation 533
Total expenses 3,491
Net income/(loss) (533)
37
<PAGE>
PAGE 38
COGEN SOUTH LLC
Balance Sheet
December 31, 1998
(Thousands of Dollars)
CURRENT ASSETS
Cash $ 2,008
Accounts receivable 1,147
Inventories 293
Prepaid expenses 65
Construction funds held by bank 7,003
Total 10,516
Plant and equipment - net 144,078
Intangible asset 15,530
Other assets 2,603
Total 172,727
LIABILITIES AND MEMBERS' CAPITAL
Accounts payable and accrued expenses 2,430
CURRENT LIABILITIES 2,430
Long term debt 139,770
Members' capital 30,527
Total 172,727
38
<PAGE>
PAGE 39
POWERTEL, INC.
STATEMENT OF OPERATIONS
December 31, 1998
(Thousands of Dollars except per share amounts)
REVENUES AND SALES:
Service Revenues 152,275
Equipment Sales 23,161
Total Revenues and Sales 175,436
OPERATING EXPENSES:
Cost of Service 42,777
Cost of Equipment Sold 79,144
Operations 56,522
Selling and Marketing 63,936
General and Administrative 37,639
Depreciation 57,938
Amortization 9,716
Total Operating Expenses 347,672
OPERATING LOSS (172,236)
OTHER EXPENSE (INCOME):
Interest Expense, net 93,656
Miscellaneous (Income) Expense, net (62)
Total Other Expense (Income) 93,594
NET LOSS (265,830)
DIVIDENDS ON CUMULATIVE CONVERTIBLE,
REDEEMABLE PREFERRED STOCK (5,010)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS (270,840)
PER SHARE DATA:
BASIC AND DILUTED LOSS PER COMMON SHARE (10.02)
AVERAGE COMMON AND COMMON EQUIVALENT
SHARES OUTSTANDING (Thousands) 27,019
39
<PAGE>
PAGE 40
POWERTEL, INC.
Balance Sheet
December 31, 1998
(Thousands of Dollars)
CURRENT ASSETS:
Cash and Cash Equivalents 204,786
Restricted Cash for Payment of Interest 33,376
Accounts Receivable, Net of Allowance
for Doubtful Accounts 28,726
Inventories 20,683
Prepaid Expenses and Other 9,248
TOTAL CURENT ASSETS 296,819
Property and Equipment at Cost 749,614
Less Accumulated Depreciation (107,210)
Property, Net 642,404
OTHER ASSETS:
Licenses, net 407,998
Restricted Cash for Payments of Interest 14,343
Deferred Charges and Other, net 19,014
Total Other Assets 441,355
TOTAL ASSETS 1,380,578
CURRENT LIABILITIES:
Accounts Payable - Trade 14,633
Accrued Construction Costs 17,807
Accrued Interest 2,781
Accrued Taxes Other than Income 6,261
Accrued Other 20,529
Advance Billing and Customer Deposits 7,898
Current Portion of Long-Term Obligations 49
Total Current Liabilities 69,958
LONG TERM OBLIGATIONS, NET 1,108,070
CUMULATIVE CONVERTIBLE REDEEMABLE PREFERRED STOCK 152,219
STOCKHOLDER'S EQUITY 50,331
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY 1,380,578
40
<PAGE>
PAGE 41
PALMETTO LIME LLC
Income Statement
December 31, 1998
(Thousands of Dollars)
NET SALES -
OTHER PRE-OPERATING EXPENSES 200
GROSS LOSS (200)
SELLING & ADMINISTRATIVE EXPENSES 542
INTEREST EXPENSE AND BANK CHARGES, NET 36
NET LOSS (778)
41
<PAGE>
PAGE 42
PALMETTO LIME LLC
Balance Sheet
December 31, 1998
(Thousands of Dollars)
PREPAID EXPENSE 1
PREPAID INSURANCE 12
TOTAL CURRENT ASSETS 13
CONSTRUCTION IN PROGRESS 16,197
TOTAL ASSETS 16,210
ACCRUED TAXES OTHER THAN INCOME 60
OTHER ACCRUED EXPENSES 17
TOTAL CURRENT LIABILITIES 77
NOTE PAYABLE - APG 7,031
NOTE PAYABLE - SCANA 2,738
CAPITAL
APG LIME 3,741
SCANA 3,595
ACCUMULATED DEFICIT (972)
TOTAL LIABILITIES & CAPITAL 16,210
42
<PAGE>
PAGE 43
SCANA ENERGY TRADING, LLC
Statement of Income
December 31, 1998
(Thousands of Dollars)
REVENUES
GAS SALES 24,335
LESS: COST OF GAS 23,839
GROSS MARGIN 496
GENERAL EXPENSES
SALARIES & WAGES - GENERAL 299
SUPPLIES & EXPENSES - GENERAL 15
OUTSIDE SERVICES - GENERAL 33
OUTSIDE SERVICES - ASSOCIATED 98
DEPRECIATION EXPENSE 4
AMORTIZATION EXPENSE 12
DUES & PUBLICATIONS 4
OTHER TAXES & LICENSES 1
INSURANCE EXPENSE 25
GENERAL EXPENSE 13
RENT EXPENSE 27
UTILITIES 24
MEALS AND INCIDENTALS 6
TRAVEL AND LODGING 32
TOTAL GENERAL EXPENSES 593
OPERATING INCOME (LOSS) (97)
OTHER INCOME
INTEREST INCOME 15
TOTAL OTHER INCOME 15
OTHER EXPENSES
INTEREST EXPENSE - ASSOC. CO. 34
TOTAL OTHER EXPENSES 34
INCOME BEFORE TAXES (116)
FEDERAL INCOME TAX (41)
NET INCOME (LOSS) (75)
43
<PAGE>
PAGE 44
SCANA ENERGY TRADING, LLC
Balance Sheet
December 31, 1998
(Thousands of Dollars)
CURRENT ASSETS
CASH 557
SHORT TERM INVESTMENTS 1,365
NOTES RECEIVABLE-ASSOC CO 400
ACCOUNTS RECEIVABLE 5,173
ACCTS REC - ASSOC CO 421
INVENTORY (NATURAL GAS) 242
PREPAYMENTS 30
TOTAL CURRENT ASSETS 8,188
FIXED ASSETS
PROPERTY AND EQUIPMENT, NET 52
TOTAL FIXED ASSETS 52
INTANGIBLE ASSETS
GOODWILL, NET OF AMORTIZATION 342
TOTAL INTANGIBLE ASSETS 342
OTHER ASSETS
DEFERRED DEBITS 1
TOTAL OTHER ASSETS 1
TOTAL ASSETS 8,583
44
<PAGE>
PAGE 45
SCANA ENERGY TRADING, LLC
Balance Sheet
December 31, 1998
(Thousands of Dollars)
CURRENT LIABILITIES
ACCOUNTS PAYABLE 4,577
ACCOUNTS PAYABLE - ASSOC CO 385
TAXES ACCRUED (69)
TOTAL CURRENT LIABILITIES 4,893
LONG TERM LIABILITIES
ADVANCES FROM ASSOC CO. 2,535
TOTAL LONG TERM LIABILITES 2,535
DEFERRED LIABILITIES
OTHER DEFERRED CREDITS 30
TOTAL DEFFERED CREDITS 30
OWNERS' EQUITY
EQUITY, SCANA ENERGY MARKETING 840
EQUITY, INTERMARKET TRADING CO, LLC. 360
RETAINED EARNINGS (75)
TOTAL OWNERS' EQUITY 1,125
TOTAL LIABILITIES AND EQUITY 8,583
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The above-named claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 9 th day of March, 1999.
SCANA CORPORATION
(Name of Claimant)
BY: s/K. B. Marsh
(K. B. Marsh, Senior Vice President-Finance, Chief
Financial Officer and Controller
CORPORATE SEAL
Attest:
(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 Senior Vice President, General Counsel and Assistant Secretary
(Name) (Title)
1426 Main Street, Columbia, South Carolina 29201
(Address)
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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.
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PAGE 48
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
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