February 27, 1996
Securities and Exchange Commission
6432 General Green Way
Alexandria, VA 23212-2413
Gentlemen:
We are transmitting herewith Indiana Energy, Inc.'s
Statement on Form U-3A-2.
The $500.00 filing fee was transmitted via FEDWIRE on
February 26, 1996.
Sincerely,
/s/Kathleen S. Morris
Kathleen S. Morris
KSM:rs
File No. 069-00312
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
Statement by Holding Company Claiming Exemption
Under Rule U-3A-2 from the Provisions of the Public
Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
INDIANA ENERGY, INC.
hereby files with the Securities and Exchange
Commission (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.
Indiana Energy, Inc. (Indiana Energy), Claimant
in this statement, is an Indiana corporation with
its principal offices in Indianapolis, Indiana.
Claimant is a "holding company" (as such term is
defined by the Act), owning all of the issued and
outstanding shares of common stock of Indiana Gas
Company, Inc. (Indiana Gas) and IEI Investments,
Inc. (IEI Investments).
Indiana Gas is an Indiana corporation engaged
in the business of supplying gas service at retail,
including transportation, to ultimate consumers,
all within the state of Indiana. For the
twelve-month period ending December 31, 1995,
virtually all of Indiana Energy's consolidated
earnings were derived from the operations of
Indiana Gas and its subsidiaries. Indiana Gas is a
"subsidiary company" of Indiana Energy and is also
a "gas utility company" and a "public utility
company" (as such terms are defined by the Act).
Indiana Gas owns all of the issued and
outstanding shares of common stock of Terre Haute
Gas Corporation (Terre Haute) and Richmond Gas
Corporation (Richmond), both of which are Indiana
corporations. While Terre Haute and Richmond
technically exist as separate corporate entities,
in accordance with an order issued by the Indiana
Utility Regulatory Commission, Indiana Gas, Terre
Haute and Richmond have combined their operations
for all purposes and are transacting business under
the name Indiana Gas Company, Inc. Pursuant to
that order, accounting records and financial
reports are on a consolidated basis. For purposes
of this statement, any reference to Indiana Gas
will, in effect, be inclusive of the separate
corporate entities of Richmond and Terre Haute.
Indiana Energy owns all of the outstanding
shares of capital stock of IEI Investments, an
Indiana corporation. IEI Investments was formed
for the purpose of grouping and controlling
nonregulated businesses of Indiana Energy and
investments therein and to separate them from
regulated businesses.
IEI Investments owns all of the issued and
outstanding shares of capital stock of IGC Energy,
Inc. (IGC Energy), an Indiana corporation. On
November 1, 1994, IGC Energy formed Indiana Energy
Services, Inc. (IES), an Indiana corporation which
provides gas supply and related marketing services
to large-volume industrial and commercial
customers, small local distribution companies,
other natural gas marketing companies, and as of
January 1, 1996, to Indiana Gas. IGC Energy holds
interests in the following businesses as well:
(i) IGC Energy is a limited partner in Lima Resources
Associates, L.P. (LIMA). Other limited
partners are Laclede Energy Resources,
Inc., a wholly-owned subsidiary of Laclede
Gas Company, a general partner; Vulcan Oil
and Gas Company, a subsidiary of
Alabama-Tennessee Natural Gas Company; and
Mississippi Energies, Inc., a subsidiary of
Mississippi Valley Gas Company. LIMA is
engaged in the business of exploring for
hydrocarbons.
(ii) On October 2, 1990, IGC Energy acquired
approximately 35 percent of the outstanding
voting securities of Loggins, Incorporated, a
wholesale distributor of propane and
natural gas appliances and corrugated
stainless steel tubing (flexible pipe)
based in Indianapolis, Indiana.
(iii) On January 16, 1996, IGC Energy became a
limited partner in Cambridge Ventures,
L.P., a venture capital fund based in
Indianapolis, Indiana, which invests in
growth-oriented companies for the purpose
of obtaining long-term capital gains.
IEI Investments also owns all of the
outstanding voting securities of Energy Realty,
Inc. (Energy Realty). Energy Realty is an Indiana
corporation engaged in the business of real
estate. Energy Realty currently owns a warehouse
facility which is leased to Indiana Gas and is also
a limited partner in three affordable housing
complexes.
On January 31, 1996, Indiana Energy and
Citizens Gas and Coke Utility (Citizens Gas) signed
a letter of intent to form a jointly-owned limited
liability corporation for natural gas supply and
related marketing services. The new entity will
provide complete gas supply and related marketing
services for Indiana Gas and Citizens Gas starting
sometime this spring subject to the execution of a
definitive agreement. In addition, the joint
entity will offer gas supply and related marketing
services to other businesses in Indiana and other
markets. The new entity will assume the
responsibilities of IES.
2. A brief description of the properties of
claimant and each of its subsidiary public utility
companies used for the production, transmission and
distribution of natural or manufactured gas, indicating
the location of principal transmission lines, producing
fields, gas manufacturing plants 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 gas at the borders
of such State.
At the date of the filing of this Statement,
Indiana Energy had no properties and is solely a
holding company owning all of the issued and
outstanding shares of common stock of Indiana Gas
and IEI Investments.
The properties of Indiana Gas used for the
production, storage and distribution of gas are
located solely within the state of Indiana except
for pipeline facilities extending from points in
northern Kentucky to points in southern Indiana by
means of which gas is transported to Indiana for
sale or transportation by Indiana Gas to ultimate
customers in Indiana. At December 31, 1995, these
included approximately 10,164 miles of distribution
mains; 480,673 meters, seven reservoirs for
underground storage of purchased gas with
approximately 107,074 acres of land owned and/or
held under storage easements with 10,740,151 Dth of
gas in storage providing a daily deliverability
capacity of 138,860 Dth. Indiana Gas has five
liquefied petroleum air gas manufacturing plants
with a total daily capacity of 36,700 Dth of gas.
These properties are used by Indiana Gas in its gas
operations in which gas is supplied to
approximately 467,000 consumers in 281 communities
in 48 of the 92 counties in the state of Indiana.
The largest communities served are Muncie,
Anderson, Lafayette-West Lafayette, Bloomington,
Terre Haute, Marion, New Albany, Columbus,
Jeffersonville, New Castle and Richmond.
Indiana Gas obtains gas for its operations
primarily from out-of-state producers, brokers and
marketers under both medium-term and short-term
contracts. Gas is transported to Indiana Gas'
system by interstate pipeline suppliers under
Federal Energy Regulatory Commission approved rate
schedules.
3. The following information for the last
calendar year with respect to Claimant and each of its
subsidiary public utility companies:
(a) Number of Dth of gas distributed at retail:
Company Calendar Year DTH
Indiana Gas 1995 84,563,000 Sales
33,917,000 Transportation
118,480,000 Total Throughput
(b) Number of Dth of gas distributed at retail
outside the State in which each such company is organized:
None
(c) Number of Dth of gas sold at wholesale
outside the State in which each such company is
organized, or at the State line:
None
(d) Number of Dth of gas purchased outside the
State in which each such company is organized
or at the State line:
Indiana Gas purchased 81,858,000 Dth of gas
outside the state of Indiana during calendar
1995. These were purchases for system supply.
This gas was transported by interstate pipeline
companies to Indiana Gas facilities within the
State or delivery points in northern Kentucky.
4. The following information for the reporting
period with respect to claimant and each interest it
holds directly or indirectly in a EWG or a foreign
utility company.
Inapplicable to claimant.
Exhibit A
A consolidating statement of income and a
consolidating statement of retained earnings of Indiana
Energy and subsidiaries, for the calendar year 1995,
together with a consolidating balance sheet of Indiana
Energy and subsidiary companies, as of the close of
such calendar year, are annexed hereto as Exhibit A.
Exhibit B
See the Financial Data Schedule filed herewith as
Exhibit 27.
Exhibit C
Inapplicable to claimant.
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 1996.
INDIANA ENERGY, INC.
(Name of Claimant)
By /s/Niel C. Ellerbrook
Niel C. Ellerbrook
Vice President and Treasurer
and Chief Financial Officer
Attest:
/s/Ronald E. Christian
Ronald E. Christian
Secretary
Name, title and address of officer to whom notices and
correspondence concerning this statement should be
addressed:
Niel C. Ellerbrook
Vice President and Treasurer
and Chief Financial Officer
Indiana Energy, Inc.
1630 North Meridian Street
Indianapolis, Indiana 46202
<TABLE>
INDIANA ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
(Thousands - Unaudited)
Indiana
Indiana IEI Energy Energy Adjustments
Indiana Gas Company, Investments IGC Realty, Services, Debit
ASSETS Energy, Inc. Inc. Inc. Energy, Inc. Inc. Inc. (Credit) Consolidated
<S> <C> <C> <C> <C> <C> <C> <C> <C>
UTILITY PLANT:
Utility plant - original cost $ - $ 882,124 $ - $ - $ - $ - $ - $ 882,124
Less - Accumulated depreciation
and amortization - 323,160 - - - - - 323,160
- 558,964 - - - - - 558,964
EQUITY IN NET ASSETS OF WHOLLY-
OWNED SUBSIDIARIES:
Indiana Gas Company, Inc. 280,832 - - - - - (280,832) -
IEI Investments, Inc. 10,333 - - - - - (10,333) -
IGC Energy, Inc. - - 9,958 - - - (9,958) -
Energy Realty, Inc. - - 355 - - - (355) -
Indiana Energy Services, Inc. - - - 253 - - (253) -
291,165 - 10,313 253 - - (301,731) -
NONUTILITY PLANT AND OTHER
INVESTMENTS - NET - 186 - 616 6,278 - - 7,080
CURRENT ASSETS:
Cash and cash equivalents 1,992 19,670 17 9,109 383 1,025 (12,526) 19,670
Accounts receivable, less
reserves - 43,313 - 61 - 1,274 - 44,648
Accounts receivable from
affiliated companies 36 - 3 32 86 3,998 (4,155) -
Accrued unbilled revenues - 45,121 - - - - - 45,121
Materials and supplies - at
average cost - 3,827 - - - - - 3,827
Liquefied petroleum gas - at
average cost - 876 - - - - - 876
Gas in underground storage - at
last-in, first-out cost - 51,392 - - - - - 51,392
Prepayments and other - 1,391 - 63 3 - - 1,457
2,028 165,590 20 9,265 472 6,297 (16,681) 166,991
DEFERRED CHARGES:
Unamortized debt discount and
expense - 6,811 - - 119 - - 6,930
Other 3 9,239 - 110 - 3 - 9,355
3 16,050 - 110 119 3 - 16,285
$ 293,196 $ 740,790 $ 10,333 $ 10,244 $ 6,869 $ 6,300 $ (318,412) $ 749,320
</TABLE>
<TABLE>
INDIANA ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
(Thousands - Unaudited)
Indiana
Indiana IEI Energy Energy Adjustments
SHAREHOLDERS' EQUITY AND Indiana Gas Company, Investments IGC Realty, Services Debit
LIABILITIES Energy, Inc. Inc. Inc. Energy, Inc. Inc. Inc. (Credit) Consolidated
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CAPITALIZATION:
Common stock $ 145,236 $ 142,995 $ 1 $ 1 $ 1 $ 1 $ 142,999 $ 145,236
Paid-in capital - - 4,179 4,361 - - 8,540 -
Unearned compensation -
restricted stock grants (731) - - - - - - (731)
Retained earnings 148,587 137,837 6,153 5,596 354 252 150,192 148,587
Total common shareholders'
equity 293,092 280,832 10,333 9,958 355 253 301,731 293,092
Long-term debt -
First mortgage bonds - 18,950 - - - - - 18,950
Notes payable - 174,743 - - 2,407 - - 177,150
- 193,693 - - 2,407 - - 196,100
293,092 474,525 10,333 9,958 2,762 253 301,731 489,192
CURRENT LIABILITIES:
Maturities and sinking fund
requirements of long-term debt - - - - 267 - - 267
Notes payable - 23,200 - - 3,800 - - 27,000
Accounts payable - 79,703 - 139 - 5,912 16,391 69,363
Accounts payable to affiliated
companies 23 - - 112 - 30 165 -
Refundable gas costs - 8,008 - - - - - 8,008
Customer deposits and advance
payments - 16,976 - - - - - 16,976
Accrued taxes - 18,175 - 35 - 105 125 18,190
Accrued interest - 4,859 - - 40 - - 4,899
Other current liabilities - 20,068 - - - - (81) 20,149
23 170,989 - 286 4,107 6,047 16,600 164,852
DEFERRED CREDITS:
Deferred income taxes - 65,798 - - - - - 65,798
Unamortized investment tax
credit - 11,871 - - - - - 11,871
Customer advances for
construction - 1,418 - - - - - 1,418
Regulatory income tax
liability - 3,797 - - - - - 3,797
Other 81 12,392 - - - - 81 12,392
81 95,276 - - - - 81 95,276
$ 293,196 $ 740,790 $ 10,333 $ 10,244 $ 6,869 $ 6,300 $ 318,412 $ 749,320
</TABLE>
<TABLE>
INDIANA ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED DECEMBER 31, 1995
(Thousands - Unaudited)
Indiana
Indiana IEI Energy Energy Adjustments
Indiana Gas Company, Investments IGC Realty, Services, Debit
Energy, Inc. Inc. Inc. Energy, Inc. Inc. Inc. (Credit) Consolidated
<S> <C> <C> <C> <C> <C> <C> <C> <C>
UTILITY OPERATING REVENUES $ - $ 445,057 $ - $ - $ - $ - $ - $ 445,057
COST OF GAS - 245,181 - - - - - 245,181
MARGIN - 199,876 - - - - - 199,876
UTILITY OPERATING EXPENSES:
Other operation - 68,479 - - - - - 68,479
Maintenance - 7,651 - - - - - 7,651
Depreciation and amortization - 31,734 - - - - - 31,734
Income taxes - 24,110 - - - - - 24,110
Taxes other than income taxes - 13,653 - - - - - 13,653
- 145,627 - - - - - 145,627
UTILITY OPERATING INCOME - 54,249 - - - - - 54,249
INTEREST AND OTHER:
Interest expense - 15,528 - - - - - 15,528
Allowance for borrowed funds
used during construction - (236) - - - - - (236)
Other amortization - 187 - - - - - 187
Other income - net - (1,488) - - - - - (1,488)
- 13,991 - - - - - 13,991
UTILITY INCOME - 40,258 - - - - - 40,258
NONUTILITY INCOME 41,175 - 1,147 1,007 160 239 42,811 917
NET INCOME $ 41,175 $ 40,258 $ 1,147 $ 1,007 $ 160 $ 239 $ 42,811 $ 41,175
</TABLE>
<TABLE>
INDIANA ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DECEMBER 31, 1995
(Thousands - Unaudited)
Indiana
Indiana IEI Energy Energy Adjustments
Indiana Gas Company, Investments IGC Realty, Services, Debit
Energy, Inc. Inc. Inc. Energy, Inc. Inc. Inc. (Credit) Consolidated
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BALANCE DECEMBER 31, 1994 $ 131,656 $ 122,079 $ 5,006 $ 4,589 $ 194 $ 13 $ 131,881 $ 131,656
ADD:
Net Income 41,175 40,258 1,147 1,007 160 239 42,811 41,175
172,831 162,337 6,153 5,596 354 252 174,692 172,831
DEDUCT:
Dividends on Common Stock 24,244 24,500 - - - - (24,500) 24,244
BALANCE DECEMBER 31, 1995 $ 148,587 $ 137,837 $ 6,153 $ 5,596 $ 354 $ 252 $ 150,192 $ 148,587
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
This schedule contains summary financial information extracted from Indiana
Energy, Inc.'s consolidating financial statements as of December 31, 1995, and
for the twelve months then ended and is qualified in its entirety by reference
to such statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 749,320
<TOTAL-OPERATING-REVENUES> 445,057
<NET-INCOME> 41,175
</TABLE>
