<PAGE>
[As adopted November 9, 1939; amended in Release No. 35-
25746(85,116), effective November 1, 1993, 58 F.R. 14999; and
Release No. 35-25886 (85,226), effective November 1, 1993, 58
F.R. 51488.]
File No. 69-247
------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U-3A-2
STATEMENT BY HOLDING COMPANY
CLAIMING EXEMPTION UNDER RULE U-3A-2
FROM THE PROVISIONS OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
To Be Filed Annually Prior to March 1
DPL INC.
-----------------
(Name of Company)
hereby files with the Securities and Exchange Commission,
pursuant to Rule 2, its statement claiming exemption as a
holding company from the provisions of the Public Utility
Holding Company Act of 1935, and submits the following
information:
<PAGE>
1. 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.
DPL Inc., an Ohio corporation ("Claimant"), organized on
September 16, 1985. Claimant's principal executive office is
located at Courthouse Plaza Southwest, Dayton, Ohio 45402.
Claimant's business is the holding of all of the
outstanding Common Shares of The Dayton Power and Light Company
("DP&L") and the common shares of the subsidiaries set forth and
described herein. Claimant is solely a holding company and is
not actively engaged in any other business.
Claimant holds shares in the following subsidiaries:
(1) DP&L, an Ohio corporation organized on March 23, 1911,
is engaged in the business of generating, transmitting and selling
electric energy and distributing natural gas to residential,
commercial, industrial and governmental customers in the City of
Dayton, Ohio and neighboring cities, towns and communities,
and adjacent rural areas, all within the State of Ohio.
DP&L's electricity and natural gas service areas cover 24
counties and 16 counties, respectively, in West Central
Ohio. DP&L's principal executive office is located at
Courthouse Plaza Southwest, Dayton, Ohio 45402. DP&L holds
shares in the following subsidiaries:
(a) MacGregor Park, Inc. ("MPI"), an Ohio corporation
organized on May 1, 1986, and having its principal executive
office at Courthouse Plaza Southwest, Dayton, Ohio 45402.
MPI owns and is a developer of a parcel of real estate.
MPI is a wholly-owned subsidiary of DP&L.
(b) Miami Valley Equipment, Inc. ("MVE"), an Ohio
corporation organized on May 1, 1986, and having its
principal executive office at Courthouse Plaza Southwest,
Dayton, Ohio 45402, and which presently owns retail sales
and transportation equipment, and has made investments in
non-utility interests. MVE is a wholly-owned subsidiary of
DP&L.
(2) Miami Valley CTC, Inc. ("MVCTC"), an Ohio corporation
organized on May 1, 1986, and having its principal executive
office at Courthouse Plaza Southwest, Dayton, Ohio 45402, which
leases an airplane, owns an airplane, a helicopter and an interest
in CTC of Dayton Partnership No. 1 ("CTC"), a partnership described
herein. MVCTC is a wholly-owned subsidiary of Claimant.
-1-
<PAGE>
(a) CTC is an Ohio general partnership organized on
September 30, 1981 and having its principal executive office
at 3700 McCauley Drive, Vandalia, Ohio 45377, and is a party
to a service agreement pursuant to which CTC provides
transportation services to DP&L. MVCTC has a 90%
ownership interest in CTC.
(3) Miami Valley Leasing, Inc., an Ohio corporation organized
on May 1, 1986, and having its principal executive office at
Courthouse Plaza Southwest, Dayton, Ohio 45402. MVL leases
vehicles, communications equipment and other miscellaneous
equipment, owns real estate and has, for financial investment
purposes, acquired limited partnership interests in wholesale
electric generation. MVL has a 10% ownership interest in CTC.
MVL holds shares of Miami Valley Market Hub, Inc. ("MVMH")
described herein. MVL is a wholly-owned subsidiary of
Claimant.
(a) MVMH is an Ohio corporation organized on November 14,
1996, and having the principal executive office at
Courthouse Plaza Southwest, Dayton, Ohio 45402, and which
presently owns a limited partnership interest and investments
in a natural gas supplier and natural gas storage facilities.
MVL owns 100% of the outstanding shares of MVMH.
(4) Miami Valley Resources, Inc. ("MVR"), an Ohio corporation
organized on May 1, 1986, and having its principal executive
office at Courthouse Plaza Southwest, Dayton, Ohio 45402. MVR
is engaged in the natural gas supply management business. MVR
is a wholly-owned subsidiary of Claimant.
(5) Miami Valley Lighting, Inc. ("MVLT"), an Ohio corporation
organized on May 1, 1986, and having its principal executive
office at Courthouse Plaza Southwest, Dayton, Ohio 45402. MVLT
owns a street lighting business. MVLT is a wholly-owned
subsidiary of Claimant.
(6) Miami Valley Development Company ("MVDC"), an Ohio
corporation organized on May 1, 1963, and having its principal
executive office at Courthouse Plaza Southwest, Dayton, Ohio
45402. MVDC holds shares of Energy Innovations, Inc. ("EII")
described herein and has made investments in non-utility
interests. MVDC is a wholly-owned subsidiary of Claimant.
-2-
<PAGE>
(a) EII is an Ohio corporation organized on December
18, 1985, and having its principal executive office at
Courthouse Plaza Southwest, Dayton, Ohio 45402. EII
is engaged in the business of technology research and
development. MVDC owns 100% of the outstanding shares
of EII.
(7) Miami Valley Insurance Company ("MVIC"), a Vermont
corporation organized on March 16, 1987, and having its
principal executive office at Crosstown Road, Montpelier,
Vermont 05602. MVIC is engaged in the business of providing
insurance to the Claimant and its principal subsidiary, DP&L.
MVIC is a wholly-owned subsidiary of Claimant.
(8) DPL Energy, Inc. ("DPL Energy"), an Ohio corporation
organized on July 8, 1996, and having its principal executive
office at Courthouse Plaza Southwest, Dayton, Ohio 45402. DPL
Energy has been granted authority to engage in the business of
brokering wholesale electric energy. DPL Energy is a wholly-
owned subsidiary of Claimant.
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.
DP&L is the only one of Claimant's subsidiaries that owns
property used for the generation, transmission and distribution
of electric energy for retail sale, and for the production,
transmission and distribution of natural or manufactured gas.
DP&L's electricity and natural gas service areas lie wholly
within the State of Ohio.
DP&L's present generating facilities have a winter
generating capability of 3,264,000 KW. Of this capability,
2,843,000 KW (approximately 87%) is derived from coal-fired steam
generating stations and the balance consists of combustion
turbine and diesel-powered peaking units. Approximately 87%
(2,472,000 KW) of the existing steam generating capacity is
provided by certain units owned as tenants in common with The
Cincinnati Gas & Electric Company ("CG&E") or with CG&E and
Columbus Southern Power Company ("CSP"). The remaining steam
generating capacity (371,000 KW) is derived from a generating
station owned solely by DP&L. The following table describes
DP&L's generating facilities.
-3-
<PAGE>
MW Rating
---------------
Owner- Operating DP&L
Station ship* Company Location Portion Total
- ------- ----- --------- --------- ------- -----
Coal Units
- ----------
Hutchings W DP&L Miamisburg, OH 371 371
Killen C DP&L Wrightsville, OH 418 600
Stuart C DP&L Aberdeen, OH 823 2,340
Beckjord -Unit 6 C CG&E New Richmond, OH 210 420
Conesville -Unit 4 C CSP Conesville, OH 129 780
Miami Ford -Units 7&8 C CG&E North Bend, OH 360 1,000
East Bend -Unit 2 C CG&E Rabbit Hash, KY 186 600
Zimmer C CG&E Moscow, OH 365 1,300
Combustion Turbines or Diesel
- -----------------------------
Hutchings W DP&L Miamisburg, OH 32 32
Yankee Street W DP&L Centerville, OH 144 144
Monument W DP&L Dayton, OH 12 12
Tait W DP&L Dayton, OH 10 10
Sidney W DP&L Sidney, OH 12 12
Tait Gas Turbine 1 W DP&L Moraine, OH 95 95
Tait Gas Turbine 2 W DP&L Moraine, OH 97 97
* W - Wholly Owned; C - Commonly Owned
DP&L's electric transmission and distribution lines owned
and in service as of December 31, 1996 were as follows:
Overhead Lines Underground Lines
Nominal Voltage Circuit Miles Cable Miles
- --------------- -------------- -----------------
345 KV 414* 0
138 KV 342 3
69 KV 944 1
33 KV 80 0
Less than 33 KV 33,339 4,428
------ -----
Total Miles 35,119 4,432
* This figure includes 126 circuit miles of 345 KV lines wholly-
owned by DP&L and DP&L's portion (288 circuit miles) of
847 circuit miles of 345 KV lines owned as tenants in common
with CG&E and CSP.
-4-
<PAGE>
DP&L wholly owns and operates 147 substations with a total
capacity of 13,474,000 KVA and owns and operates 15 substations
as tenants in common with CG&E and CSP. The commonly owned
substations have a total capacity of 8,321,000 KVA, of which
2,890,000 KVA is DP&L's equivalent share.
DP&L's electric transmission lines have interconnections
with the lines of Ohio Power Company, CSP, CG&E, Ohio Edison
Company and Ohio Valley Electric Corporation, through which DP&L
has access to interstate electric energy markets.
Exhibits D and E attached hereto show the location of
certain major generating plants and principal transmission lines
of DP&L.
DP&L's natural gas distribution system delivers gas in 16
counties in Ohio. DP&L has long term natural gas purchase
agreements with various producers and long term firm
transportation agreements with Columbia Gas Transmission
Corporation ("Columbia"), Columbia Gulf Transmission Corporation
("Columbia Gulf"), Texas Gas Transmission Corporation ("Texas
Gas"), Panhandle Eastern Pipe Line Company ("Panhandle") and ANR
Pipeline Company ("ANR"), including storage agreements with
Columbia, Texas Gas and Panhandle. DP&L also has taken advantage
of interruptible transportation agreements it has with Texas
Eastern Transmission Company, ANR, Columbia, Columbia Gulf, Texas
Gas and Panhandle to receive spot natural gas purchased through
direct market arrangements. DP&L is also interconnected with CNG
Transmission Corporation. For peak shaving purposes, DP&L
maintains and operates four propane-air plants with a daily rated
capacity of approximately 70,000 thousand cubic feet ("MCF") of
natural gas. Exhibit F attached hereto outlines DP&L's gas
distribution system, which is entirely within the State of Ohio.
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 DP&L
-------- ----
None 16,314,317,000 kWh;
46,745,235 MCF
-5-
<PAGE>
(b) Number of kWh of electric energy and MCF of natural
or manufactured gas distributed at retail outside the State
in which each such company is organized.
Claimant DP&L
-------- ----
None None
(c) Number of kWh of electric energy and MCF of natural
or manufactured gas sold at wholesale outside the State in
which each such company is organized, or at the State line.
Claimant DP&L
-------- ----
None 662,971,000 kWh;
0 MCF
(d) Number of kWh of electric energy and MCF of natural
or manufactured gas purchased outside the State in which
each such company is organized or at the State line.
Claimant DP&L
-------- ----
None 427,792,000 kWh;
46,995,370 MCF
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.
Indeck Pepperell Power Associates, Inc.
1130 Lake Cook Road, Suite 200
Buffalo Grove, IL 60089
Indeck Pepperell is a 38 MW plant used for the generation
of electricity.
-6-
<PAGE>
(b) Name of each system company that holds an interest
in such EWG or foreign utility company; and description of
the interest held.
MVL: 7.254% equity interest in project.
(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.
MVL: Equity investment of $617,502.08.
(d) Capitalization and earnings of the EWG or foreign
utility company during the reporting period.
Capitalization: $8.5 million
Earnings: None (non-operational)
(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
-7-
<PAGE>
Exhibit Index
Page
----
Exhibit A - Consolidating Financial Statements for 11
twelve months ended December 31, 1996
Exhibit A-1 - Non-Utility Consolidating Financial 16
Statements for twelve months ended
December 31, 1996
Exhibit B - Financial Data Schedule 9
Exhibit C - An organizational chart showing the 9
relationship of each EWG or foreign
utility company to associate companies
in the holding-company system
Exhibit D - Map showing location of certain major 40
electric generating plants, transmission
substations and 765 KV and 345 KV
transmission lines owned by DP&L or
interconnected with DP&L's electric
system
Exhibit E - Map showing location of a major electric 41
generation plant, certain major
transmission substations and 345 KV and
138 KV transmission lines within
DP&L's service territory
Exhibit F - Map showing location of certain major 42
natural gas transmission and distribution
lines within DP&L's service territory
-8-
<PAGE>
EXHIBIT A
A consolidating statement of income and surplus of the
claimant and its subsidiary companies for the last calendar year,
together with a consolidating balance sheet of claimant and its
subsidiary companies as of the close of such calendar year.
Consolidating financial statements for the twelve months
ended December 31, 1996 are attached as Exhibit A. Non-utility
consolidating financial statements for the twelve months ended
December 31, 1996 are attached as Exhibit A-1.
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.
Amount
Item No. Caption Heading $ in Millions
-------- --------------- -------------
1 Total Assets 3,418.7
2 Total Operating Revenues 1,270.0
3 Net Income 172.9
EXHIBIT C
An organizational chart showing the relationship of each EWG
or foreign utility company to associate companies in the holding
company system.
Claimant (Holding Company): DPL Inc.
Subsidiary of Claimant
having relationship with EWG: MVL
Name of EWG: Indeck Pepperell Power
Associates, Inc.
-9-
<PAGE>
The above-named claimant has caused this statement to be
duly executed on its behalf by its authorized officer on this
28th day of February, 1997.
DPL Inc.
------------------
(Name of claimant)
By /s/ Thomas M. Jenkins
----------------------------------
Thomas M. Jenkins
Group Vice President and Treasurer
Attest:
/s/ Stephen F. Koziar Jr.
- ----------------------------------
Stephen F. Koziar, Jr.
Group Vice President and Secretary
Name, title and address of officer to whom notices and
correspondence concerning this statement should be addressed:
Stephen F. Koziar, Jr., Group Vice President and Secretary
----------------------------------------------------------
(Name) (Title)
Courthouse Plaza Southwest, Dayton, Ohio 45402
-----------------------------------------------
(Address)
-10-
<PAGE>
APPENDIX
Exhibit D - page 40
A color-coded map of certain major electric transmission
substations and 345 kv transmission lines wholly owned by
DP&L as well as certain major electric generating plants,
transmission substations and 345 kv transmission lines
commonly owned by DP&L with other Ohio utilities. The map
also shows certain major generating plants, transmission
substations and 765 kv and 345 kv transmission lines of
neighboring utilities that are interconnected with the DP&L
system. The geographic area represented by the map is the
southern half of Ohio and small portions of bordering
states.
Exhibit E - page 41
A color-coded map of a wholly owned electric generating
plant and certain major wholly owned and commonly owned
transmission substations and 345 kv and 138 kv transmission
lines located within DP&L's service territory in West
Central Ohio.
Exhibit F - page 42
A color coded map of certain major natural gas transmission
and distribution lines and monitor, control, measurement and
supply points owned by DP&L and other companies within
DP&L's service territory in West Central Ohio.
-43-
<TABLE> <S> <C>
<ARTICLE> OPUR3
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 3419
<TOTAL-OPERATING-REVENUES> 1270
<NET-INCOME> 173
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<SUBSIDIARY>
<NUMBER> 1
<NAME> DAYTON POWER & LIGHT CO
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 3243
<TOTAL-OPERATING-REVENUES> 1258
<NET-INCOME> 164
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT A
DPL INC.
CONSOLIDATING FINANCIAL STATEMENTS
INCOME STATEMENT
YEAR-TO-DATE DECEMBER 31, 1996
($)
DPL INC DP&L CONS SUBS ELIMIN TOTAL
***********************************************************************************************************
<S> <C> <C> <C> <C> <C>
Utility Service Revenue 0 1,258,444,682 0 (2,312,084) 1,256,132,598
Non-Utility Revenue 171,577,641 0 66,769,985 (224,521,922) 13,825,704
----------- ------------- ---------- ----------- -------------
Total Operating Revenue 171,577,641 1,258,444,682 66,769,985 (226,834,006) 1,269,958,302
----------- ------------- ---------- ----------- -------------
Fuel and Purchased Power 0 234,961,820 0 0 234,961,820
Gas Purchased for Resale 0 144,789,162 0 0 144,789,162
Operation & Maintenance 474,577 267,001,167 50,529,716 (55,256,364) 262,749,096
Depreciation & Amortization 0 122,332,000 3,055,821 0 125,387,821
General Taxes 0 129,250,957 418,553 0 129,669,510
----------- ------------- ---------- ----------- -------------
Total Operating Expense 474,577 898,335,105 54,004,090 (55,256,364) 897,557,408
----------- ------------- ---------- ----------- -------------
Operating Income Before Tax 171,103,064 360,109,577 12,765,896 (171,577,642) 372,400,895
Income Taxes 571,693 97,664,680 5,240,850 0 103,477,223
----------- ------------- ---------- ----------- -------------
Operating Income After Tax 170,531,371 262,444,897 7,525,046 (171,577,642) 268,923,672
Interest Expense 994,913 89,076,218 3,386,405 (4,419,110) 89,038,426
Preferred Stock Dividends 0 866,943 0 0 866,943
Interest & Other Inc & Deductions, net (3,365,122) (6,697,651) (5,087,127) 6,008,588 (9,141,312)
----------- ------------- ---------- ----------- -------------
Net Operating Income 172,901,580 179,199,387 9,225,768 (173,167,119) 188,159,616
Deferral (Amort) of Reg Assets 0 (15,258,035) 0 0 (15,258,035)
----------- ------------- ---------- ----------- -------------
Net Income 172,901,580 163,941,351 9,225,768 (173,167,119) 172,901,580
=========== ============= ========== =========== =============
</TABLE>
- 11 -
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT A
DPL INC.
CONSOLIDATING FINANCIAL STATEMENTS
BALANCE SHEET
YEAR-TO-DATE DECEMBER 31, 1996
($)
DPL INC DP&L CONS SUBS ELIMIN TOTAL
*************************************************************************************************************
<S> <C> <C> <C> <C> <C>
Property 0 3,519,138,709 29,477,841 0 3,548,616,550
Accumulated Depreciation & Amort 0 (1,260,673,703) (19,078,595) 0 (1,279,752,298)
------------- ------------- ----------- ------------- -------------
Net Property 0 2,258,465,006 10,399,246 0 2,268,864,252
------------- ------------- ----------- ------------- -------------
Cash & Temporary Investments 8,868,833 2,058,118 61,858,472 0 72,785,423
Accounts Receivable (Net) 22,194,151 193,417,392 70,193,949 (83,901,311) 201,904,181
Inventory 0 75,150,522 724,913 0 75,875,435
Taxes Applicable to Subsequent Yrs 0 87,343,379 0 0 87,343,379
Other Current Assets 0 54,296,416 5,389,431 (6,097,460) 53,588,387
------------- ------------- ----------- ------------- -------------
Total Current Assets 31,062,984 412,265,827 138,166,766 (89,998,771) 491,496,806
------------- ------------- ----------- ------------- -------------
Income Tax Assets 0 222,406,990 0 0 222,406,990
Regulatory Assets 0 137,289,183 0 0 137,289,183
Financial Assets 1,296,490,303 55,965,859 116,484,569 (1,298,569,994) 170,370,737
Other Assets 378,585 156,786,029 8,517,135 (37,421,897) 128,259,852
------------- ------------- ----------- ------------- -------------
Total Other Assets 1,296,868,888 572,448,060 125,001,704 (1,335,991,891) 658,326,761
------------- ------------- ----------- ------------- -------------
Total Assets 1,327,931,871 3,243,178,893 273,567,716 (1,425,990,662) 3,418,687,818
============= ============= =========== ============= =============
Accounts Payable 14,974,442 109,637,140 30,782,226 (40,978,510) 114,415,298
Current Portion - Long-Term Debt 2,000,000 40,400,000 0 0 42,400,000
Short-Term Debt 0 11,305,474 25,201,935 (26,507,409) 10,000,000
Accrued Taxes 551,536 136,554,288 589,005 0 137,694,829
Accrued Interest 3,249,450 21,585,707 0 0 24,835,157
Other Current Liabilities 45,386 49,184,275 56,765,347 (49,020,260) 56,974,748
------------- ------------- ----------- ------------- -------------
Total Current Liabilities 20,820,813 368,666,885 113,338,512 (116,506,179) 386,320,031
------------- ------------- ----------- ------------- -------------
Deferred Credits & Other 0 119,511,479 111,719,407 0 231,230,886
Unamort Investment Tax Credit 0 75,208,759 192,400 0 75,401,159
Deferred Income Taxes (5,228) 513,160,834 (20,984,799) (4,099,375) 488,071,432
------------- ------------- ----------- ------------- -------------
Total Deferred Credits & Other (5,228) 707,881,072 90,927,008 (4,099,375) 794,703,477
------------- ------------- ----------- ------------- -------------
Common Stock 1,060,099 411,722 127,500 (539,222) 1,060,099
Other Paid-In Capital 680,438,691 738,879,823 55,429,411 (820,018,680) 654,729,245
Earnings Reinvested 537,617,495 478,215,423 13,745,285 (484,827,206) 544,750,997
Pref Stock w/o Mand Redmp 0 22,850,800 0 0 22,850,800
Total Long-Term Debt 88,000,000 926,273,167 0 0 1,014,273,167
------------- ------------- ----------- ------------- -------------
Total Capitalization 1,307,116,285 2,166,630,935 69,302,196 (1,305,385,107) 2,237,664,309
------------- ------------- ----------- ------------- -------------
Total Liabilities & Equity 1,327,931,871 3,243,178,892 273,567,716 (1,425,990,661) 3,418,687,818
============= ============= =========== ============= =============
</TABLE>
- 12 -
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT A
THE DAYTON POWER & LIGHT COMPANY
CONSOLIDATING FINANCIAL STATEMENTS
INCOME STATEMENT
YEAR-TO-DATE DECEMBER 31, 1996
($)
DP&L SUBS ELIMIN TOTAL
*********************************************************************************************
<S> <C> <C> <C> <C>
Utility Service Revenue 1,258,444,682 0 0 1,258,444,682
Non-Utility Revenue 0 669,600 (669,600) 0
------------- ---------- ---------- -------------
Total Operating Revenue 1,258,444,682 669,600 (669,600) 1,258,444,682
------------- ---------- ---------- -------------
Fuel and Purchased Power 234,961,820 0 0 234,961,820
Gas Purchased for Resale 144,789,162 0 0 144,789,162
Operation & Maintenance 267,203,440 467,327 (669,600) 267,001,167
Depreciation & Amortization 122,188,780 143,220 0 122,332,000
General Taxes 129,214,464 36,493 0 129,250,957
------------- ---------- ---------- -------------
Total Operating Expense 898,357,665 647,040 (669,600) 898,335,105
------------- ---------- ---------- -------------
Operating Income Before Tax 360,087,017 22,560 0 360,109,577
Income Taxes 97,935,933 (271,253) 0 97,664,680
------------- ---------- ---------- -------------
Operating Income After Tax 262,151,084 293,813 0 262,444,897
Interest Expense 88,967,700 118,493 (9,975) 89,076,218
Preferred Stock Dividends 866,943 0 0 866,943
Interest & Other Inc & Deductions, net (6,882,946) 738,286 (552,990) (6,697,650)
------------- ---------- ---------- -------------
Net Operating Income 179,199,387 (562,965) 562,965 179,199,387
Deferral (Amort) of Reg Assets (15,258,035) 0 0 (15,258,035)
------------- ---------- ---------- -------------
Net Income 163,941,351 (562,965) 562,965 163,941,351
============= ========== ========== =============
</TABLE>
- 13 -
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT A
THE DAYTON POWER & LIGHT COMPANY
CONSOLIDATING FINANCIAL STATEMENTS
BALANCE SHEET
YEAR-TO-DATE DECEMBER 31, 1996
($)
DP&L SUBS ELIMIN TOTAL
******************************************************************************************
<S> <C> <C> <C> <C>
Property 3,517,934,525 2,662,120 (1,457,936) 3,519,138,709
Accumulated Depreciation & Amort (1,259,719,169) (954,534) 0 (1,260,673,703)
------------- ---------- ---------- -------------
Net Property 2,258,215,355 1,707,586 (1,457,936) 2,258,465,005
------------- ---------- ---------- -------------
Cash & Temporary Investments 1,763,193 294,925 0 2,058,118
Accounts Receivable (Net) 193,567,210 675,226 (825,044) 193,417,392
Inventory 75,150,522 0 0 75,150,522
Taxes Applicable to Subsequent Yrs 87,343,379 0 0 87,343,379
Other Current Assets 54,296,446 (30) 0 54,296,416
------------- ---------- ---------- -------------
Total Current Assets 412,120,751 970,121 (825,044) 412,265,828
------------- ---------- ---------- -------------
Income Tax Assets 222,406,990 0 0 222,406,990
Regulatory Assets 137,289,183 0 0 137,289,183
Financial Assets 53,488,747 52,201,055 (49,723,943) 55,965,859
Other Assets 156,785,278 751 0 156,786,029
------------- ---------- ---------- -------------
Total Other Assets 569,970,197 52,201,806 (49,723,943) 572,448,060
------------- ---------- ---------- -------------
Total Assets 3,240,306,303 54,879,513 (52,006,923) 3,243,178,893
============= ========== ========== =============
Accounts Payable 110,308,157 34,027 (705,044) 109,637,140
Current Portion - First Mort Bonds 40,400,000 0 0 40,400,000
Short-Term Debt 10,000,000 1,425,474 (120,000) 11,305,474
Accrued Taxes 136,035,285 519,003 0 136,554,288
Accrued Interest 21,585,707 0 0 21,585,707
Other Current Liabilities 49,184,275 0 0 49,184,275
------------- ---------- ---------- -------------
Total Current Liabilities 367,513,425 1,978,504 (825,044) 368,666,885
------------- ---------- ---------- -------------
Deferred Credits & Other 119,511,479 0 0 119,511,479
Unamort Investment Tax Credit 75,208,759 0 0 75,208,759
Deferred Income Taxes 511,939,937 1,220,898 0 513,160,835
------------- ---------- ---------- -------------
Total Deferred Credits & Other 706,660,175 1,220,898 0 707,881,073
------------- ---------- ---------- -------------
Common Stock 411,722 1,500 (1,500) 411,722
Other Paid-In Capital 738,879,823 50,316,549 (50,316,549) 738,879,823
Earnings Reinvested 477,717,191 1,362,061 (863,829) 478,215,423
Pref Stock w/o Mand Redmp 22,850,800 0 0 22,850,800
Total Long-Term Debt 926,273,167 0 0 926,273,167
------------- ---------- ---------- -------------
Total Capitalization 2,166,132,703 51,680,111 (51,181,879) 2,166,630,935
------------- ---------- ---------- -------------
Total Liabilities & Equity 3,240,306,303 54,879,513 (52,006,923) 3,243,178,893
============= ========== ========== =============
</TABLE>
- 14 -
EXHIBIT A-1
Certain consolidating financial statements herein are being
filed by the Company under separate cover to be afforded
confidential treatment. Pursuant to the Freedom of Information
Act and Applicable rules of the Securities and Exchange
Commission, the consolidating financial information relating to
the Company's non-utility subsidiaries have been separated from
the remainder of Exhibit A and marked "CONFIDENTIAL TREATMENT
REQUESTED BY DPL INC."
The Statements for which confidential treatment is requested
are found on pages 16 through 39 of Exhibit A-1 bearing the
following headings:
1. Inc. Consolidation Detail Report, Subsidiaries
Unconsolidated, Income Statement, Year to Date 12/31/96;
2. Inc. Consolidation Detail Report, Subsidiaries
Unconsolidated, Balance Sheet, Year to Date 12/31/96;
3. MVD Consolidation Detail Report, Income Statement, Year to
Date 12/31/96;
4. MVD Consolidation Detail Report, Balance Sheet, Year to Date
12/31/96;
5. DP&L Consolidation Detail Report, Subsidiaries
Unconsolidated, Income Statement, Year to Date 12/31/96; and
6. DP&L Consolidation Detail Report, Subsidiaries
Unconsolidated, Balance Sheet, Year to Date 12/31/96.
-15-
