UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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.
IES INDUSTRIES 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:
1. IES Industries Inc. (Industries) - Organized as a
holding company. Incorporated in Iowa. Located in
Cedar Rapids, Iowa.
The following companies are wholly-owned
subsidiaries of Industries:
IES Utilities Inc. (Utilities) - Organized as a
public utility to engage in the generation,
transmission, distribution and sale of electric
energy and the purchase, distribution and sale of
natural gas. Incorporated in Iowa. Located in
Cedar Rapids, Iowa.
IES Diversified Inc. (Diversified) - Organized as a
holding company for Industries' diversified
businesses. At December 31, 1994, direct
subsidiaries, all of which are wholly-owned, include
IES Transportation Inc., IES Energy Inc., and IES
Investments Inc. Incorporated in Iowa. Located in
Cedar Rapids, Iowa.
The following companies are subsidiaries of
Utilities or one of its subsidiaries:
IES Ventures Inc. (Ventures) - Organized as a
holding company for non-utility investments. A
wholly-owned subsidiary of Utilities. Incorporated
in Iowa. Located in Cedar Rapids, Iowa.
Aqua Ventures L.C. (Aqua Ventures) - Organized as an
aquaculture facility to raise fish for human
consumption. Ventures has a 35% equity
investment as of December 31, 1994. Incorporated in
Iowa. Located in Cedar Rapids, Iowa.
IES Midland Development Inc. (Midland) - Organized
to own and operate a landfill in Ottumwa, Iowa. A
wholly-owned subsidiary of Ventures. Incorporated
in Iowa. Located in Cedar Rapids, Iowa.
The following companies are subsidiaries of
Diversified or one of its subsidiaries:
Terra Comfort Corporation (Terra Comfort) - Engaged
in the production and sale of electricity at
wholesale until it was sold to Utilities effective
December 31, 1994.
IES Transportation Inc. (IES Transportation) -
Organized as a holding company for transportation
industry investments of Industries. Incorporated in
Iowa. Located in Cedar Rapids, Iowa.
Cedar Rapids and Iowa City Railway Company (CRANDIC)
- Organized as a railway. A wholly-owned subsidiary
of IES Transportation. Incorporated in Iowa.
Located in Cedar Rapids, Iowa.
Heartland Rail Corporation (Heartland) - Organized
to lease rail lines and right-of-ways. CRANDIC has a
26.2% equity investment as of December 31, 1994.
Incorporated in Iowa. Located in Des Moines, Iowa.
IEI Barge Services, Inc. (IEI Barge) - Organized to
provide barge terminal and hauling service on the
Mississippi River. IES Transportation has a 75.2%
equity investment as of December 31, 1994.
Incorporated in Iowa. Located in East Dubuque,
Illinois.
IES Railcar Service Center Inc. (Railcar) -
Organized to wash, repair and paint rail cars. A
wholly-owned subsidiary of IES Transportation.
Incorporated in Iowa. Located in Cedar Rapids, Iowa.
Port of Cedar Rapids Inc. (Port) - Organized as a
storage and transloading facility. A wholly-owned
subsidiary of IES Transportation. Incorporated in
Iowa. Located in Cedar Rapids, Iowa.
Cornhusker Railcar Services Inc. (Cornhusker) -
Organized to engage in the maintenance and repair of
rail cars. IES Transportation has a 33.3%
investment as of December 31, 1994. Incorporated in
Nebraska. Located in Grand Island, Nebraska.
Iowa Northern Railway Company (Iowa Northern) -
Organized as a railway. During the fourth quarter of
1994, IES Transportation's investment in Iowa Northern
was converted to non-voting preferred stock.
Incorporated in Iowa. Located in Greene, Iowa.
INRC, Inc. (INRC) - Organized to lease rail lines
and right-of-ways. During the fourth quarter of
1994, INRC was merged with and into the Iowa
Northern Railway Company.
IES Energy Inc. (IES Energy) - Organized as a
holding company for energy industry investments of
Industries. Incorporated in Iowa. Located in Cedar
Rapids, Iowa.
Industrial Energy Applications, Inc. (IEA) -
Organized to develop stand-by production facilities,
market natural gas to end-users and wholesale
customers and to generate steam for industrial use.
A wholly-owned subsidiary of IES Energy.
Incorporated in Iowa. Located in Cedar Rapids,
Iowa.
Whiting Petroleum Corporation (Whiting Petroleum) -
Organized to purchase, explore for, develop and
produce crude oil and natural gas, in part through
the formation and operation of limited partnerships.
A wholly-owned subsidiary of IES Energy.
Incorporated in Delaware. Located in Denver,
Colorado.
Whiting Programs, Inc. (Whiting Programs) -
Organized to be the general partner in several
limited partnerships formed to purchase, develop and
produce crude oil and natural gas in the United
States. A wholly-owned subsidiary of Whiting
Petroleum. Incorporated in Delaware. Located in
Denver, Colorado.
WOC Acquisition Company (WOC Acquisition) -
Organized to purchase, develop and produce crude oil
and natural gas in the United States. A wholly-
owned subsidiary of Whiting Petroleum. Incorporated
in Delaware. Located in Denver, Colorado.
Ely, Inc. - Ely, Inc. has no significant assets other
than cash. IES Energy has a 69.4% equity investment
as of December 31, 1994. Incorporated in Iowa.
Located in Cedar Rapids, Iowa.
IES Investments Inc. (IES Investments) - Organized
as a holding company for miscellaneous investments,
primarily related to real estate, of Industries.
Incorporated in Iowa. Located in Cedar Rapids,
Iowa.
Iowa Land and Building Company (ILBC) - Organized as
a real estate holding company. A wholly-owned
subsidiary of IES Investments. Incorporated in
Iowa. Located in Cedar Rapids, Iowa.
2001 Development Corporation (2001) - Organized to
promote the economic development of downtown Cedar
Rapids, Iowa, through real estate improvements. IES
Investments has a 60.6% equity investment as of
December 31, 1994. Incorporated in Iowa. Located in
Cedar Rapids, Iowa.
2002 Development Corporation (2002) - Organized as a
real estate development company to develop specific
property in downtown Cedar Rapids, Iowa. A wholly-
owned subsidiary of 2001. Incorporated in Iowa.
Located in Cedar Rapids, Iowa.
Center Place Limited (Center Place) - Organized as a
limited partnership to construct and operate multi-
family rental apartments in downtown Cedar Rapids,
Iowa. IES Investments has a 28.6% equity investment
and 2001 has a 35.7% equity investment, both as of
December 31, 1994. The partnership is organized in
Iowa and located in Iowa City, Iowa.
2060 Partnership (2060) - Organized as a partnership
to develop real estate. 2001 has an 80% equity
investment as of December 31, 1994. The partnership
is organized in Iowa and located in Cedar Rapids,
Iowa.
IES Leasing Inc. - Organized to provide leasing
services. A wholly-owned subsidiary of IES
Investments. Incorporated in Iowa. Located in Cedar
Rapids, Iowa.
SIDCO, Inc. (SIDCO) - Organized to acquire and
develop real estate and to own unit trains. During
1994, SIDCO's real estate was transferred to ILBC
and its unit trains and other miscellaneous assets
were sold to Utilities. Effective
December 31, 1994, SIDCO was dissolved.
IES Investco Inc. (Investco) - Organized as a
holding company for certain equity investments. A
wholly-owned subsidiary of IES Investments.
Incorporated in Iowa. Located in Cedar Rapids,
Iowa.
Southern Iowa Manufacturing Company (SIMCO) -
Organized to manufacture and sell drilling
equipment. A wholly-owned subsidiary of IES
Investments. Incorporated in Iowa. Located in
Osceola, Iowa.
Village Lakeshares, Inc. (VLI) - Organized as a
holding company for resort properties. A wholly-
owned subsidiary of IES Investments. Incorporated
in Iowa. Located in Cedar Rapids, Iowa.
Village Lakeshares L.P. (Lakeshares) - Organized as
a limited partnership to manage and sell resort
properties. IES Investments has a 32.9% equity
investment and VLI has a 67.1% equity investment,
both as of December 31, 1994. The partnership is
organized in Iowa and located in Spirit Lake, Iowa.
Village Resorts, Inc. (Resorts) - Organized as a
corporation to operate a hotel, golf course and
health club in northwest Iowa. Lodging and golf
course assets were sold on December 28, 1994, and
certain lakefront property was sold on January 13,
1995. After the sales of assets, Resorts owns no
significant assets. Incorporated in Iowa. Located
in Okoboji, Iowa.
McLeod, Inc. (McLeod) - Organized as a holding
company for various telecommunication businesses. At
December 31, 1994, IES Investments has an equity
investment of less than 20% voting interest.
Incorporated in Delaware. Located in Cedar Rapids,
Iowa.
2. Industries is a holding company and has no
significant properties other than common stock of
affiliates, temporary cash investments and cash
surrender values of corporate life insurance
policies.
Utilities -
Utilities is a public utility subsidiary of
Industries. Utilities is engaged in the generation,
transmission, distribution and sale of electric
energy and the purchase, distribution and sale of
natural gas. Utilities' operations are discussed
below.
Electric Operations:
Utilities' principal electric generating stations at
December 31, 1994, are as follows:
Major
Name and Location Fuel Net Kilowatts Accredited
of Station Type Generating Capability
Duane Arnold Energy Center, Palo,
Iowa Nuclear 360,500 (1)
Ottumwa Generating Station,
Ottumwa, Iowa Coal 343,440 (2)
Prairie Creek Station, Cedar
Rapids, Iowa Coal 234,000
Sutherland Station, Marshalltown,
Iowa Coal 143,000
Sixth Street Station, Cedar Rapids
Iowa Coal 71,000
Burlington Generating Station,
Burlington, Iowa Coal 211,800
George Neal Unit 3, Sioux City,
Iowa Coal 144,200 (3)
Total Coal 1,147,440
Peaking Turbines, Marshalltown,
Iowa Oil 156,000
Centerville Combustion Turbines,
Centerville, Iowa Oil 49,000
Diesel Stations, all in Iowa Oil 12,200
Total Oil 217,200
Grinnell Station, Grinnell, Iowa Gas 47,200
Agency Street Combustion
Turbines, West Burlington, Iowa Gas 65,000
Burlington Combustion Turbines,
Burlington, Iowa Gas 16,600
Total Gas 128,800
Total generating capability 1,853,940
(1) Represents Utilities' 70% ownership interest in this
515,000 Kw generating station. The plant is
operated by Utilities.
(2) Represents Utilities' 48% ownership interest in this
715,500 Kw generating station. The plant is operated
by Utilities.
(3) Represents Utilities' 28% ownership interest in this
515,000 Kw generating station which is operated by
an unaffiliated utility.
Utilities is purchasing power from Union Electric
Company under a firm capacity contract with a 1995
requirement of 100 Mw of delivered capacity
declining to 60 Mw in 1997. Utilities will also
purchase an additional annual maximum interruptible
capacity of up to 54 Mw of 25 Hz power, which
extends through 1998 and will continue thereafter
unless either party gives a three-year notice of
cancellation.
Utilities has a contract to purchase capacity of 50
Mw from the City of Muscatine for the period May 1,
1995, through October 31, 1995. Utilities has also
entered into an agreement with Basin Electric Power
Cooperative to purchase capacity of 50 Mw, 75 Mw,
100 Mw and 100 Mw during the annual six-month summer
season for the years 1996 through 1999,
respectively.
At December 31, 1994, the transmission lines of
Utilities, operating from 34,000 to 345,000 volts,
approximated 4,390 circuit miles (all located in
Iowa). Utilities owned 108 transmission substations
(all located in Iowa) with a total installed
capacity of 8,415.7 MVa and 466 distribution
substations (all located in Iowa) with a total
installed capacity of 2,545.8 MVa.
Utilities' electric facilities are interconnected
with certain Iowa and neighboring utilities. Also,
Utilities is a member of the Mid-Continent Area
Power Pool (MAPP) which began operations on November
1, 1972. This pool is comprised of 29 utilities and
20 energy related companies in the upper midwest
region of the United States and operates pursuant to
an agreement which provides for the interchange of
electric energy and the sharing of responsibilities
for production capacity and reserve, and the supply
of electric energy.
Gas Operations:
With the advent of Federal Energy Regulatory Commission (FERC)
Order 636 (Order 636), issued in 1992, the nature of Utilities'
gas supply portfolio has changed. Traditionally, Utilities'
natural gas was supplied by the following interstate pipelines -
Northern Natural Gas Company (Northern), Natural Gas Pipeline
Company of America (Natural) and ANR Pipeline Company (ANR).
These pipelines were obligated to supply natural gas to Utilities
under peak day conditions up to pre-determined contract levels.
Order 636, among other things, eliminated the interstate pipelines
obligation to serve and now requires Utilities to purchase
virtually 100% of its gas supply requirements from non-pipeline
suppliers.
Order 636, as modified on rehearing: 1) requires Utilities'
pipeline suppliers to unbundle their services so that gas
supplies are obtained separately from transportation
service, and transportation and storage services are
operated and billed as separate and distinct services; 2)
requires the pipeline suppliers to offer "no notice"
transportation service under which firm transporters
(such as Utilities) can receive delivery of gas up to
their contractual capacity level on any day without prior
scheduling; 3) allows pipelines to abandon long-term (one
year or more) transportation service provided to a
customer under an expiring contract whenever the customer
fails to match the highest rate and longest term (up to
20 years) offered to the pipeline by other customers for
the particular capacity; and 4) provides for a mechanism
under which pipelines can recover prudently incurred
transition costs associated with the restructuring
process. Utilities has enhanced access to competitively
priced gas supply and more flexible transportation
services as a result of Order 636. However, under Order
636, Utilities is required to pay certain transition
costs incurred and billed by its pipeline suppliers.
Utilities' three pipeline suppliers have made filings
with the FERC to begin collecting their respective
transition costs, and additional filings are expected.
Utilities began paying the transition costs in 1993, and,
at December 31, 1994, has recorded a liability of $8.0
million for those transition costs that have been
incurred by the pipelines to date, including $3.0 million
expected to be billed through 1995. Utilities is
currently recovering the transition costs from its
customers through its Purchased Gas Adjustment Clauses as
such costs are billed by the pipelines. Transition
costs, in addition to the recorded liability, that may
ultimately be charged to Utilities could approximate $10
million. The ultimate level of costs to be billed to
Utilities depends on the pipelines' filings with the FERC
and other future events, including the market price of
natural gas. However, Utilities believes any transition
costs that the FERC would allow the pipelines to collect
from Utilities would be recovered from its customers,
based upon regulatory treatment of these costs currently
and similar past costs by the Iowa Utilities Board
(IUB). Accordingly, regulatory assets, in amounts
corresponding to the recorded liabilities, have been
recorded to reflect the anticipated recovery.
Contracts with the pipelines subsequent to Order 636 are
comprised primarily of firm transportation, firm storage
and no-notice service. Firm transportation contracts
grant Utilities access to firm pipeline capacity which is
used to transport gas supplies from non-pipeline
suppliers on peak day. Firm storage service allows
Utilities to purchase gas during off-peak periods and
place this gas in an account with the pipelines. When
the gas is needed for peak day deliveries, Utilities
requests and the pipelines deliver the gas back on a firm
basis. No-notice service is a new service offered as a
result of Order 636. No-notice service grants Utilities
the right to take more or less gas than is actually
nominated up to the level of no-notice service. No-
notice service takes the form of transportation balancing
or storage service depending on the pipeline.
Utilities' portfolio of firm transportation, firm storage
and no-notice service from pipelines is as follows:
Firm Firm
Transportation Storage No-Notice
Northern:
Volume (Dth/day) 140,996 48,218 10,000
Expiration Date 10/31/97 10/31/97 10/31/97
Natural:
Volume (Dth/day) 28,605 37,467 10,000
Expiration Date 11/30/2000 11/30/95 11/30/95
ANR:
Volume (Dth/day) 60,737 19,180 5,000
Expiration Date 10/31/2003 10/31/2003 10/31/2003
In addition to firm storage with pipelines, Utilities
also contracts for firm storage from Llano, Inc. This
contract calls for peak day deliveries of 18,667 Dth/day
and expires May 31, 1997.
Gas supply is purchased from a variety of non-pipeline
suppliers located in the United States and Canada having
access to virtually all major natural gas producing
regions.
As a result of Order 636, Utilities accepted assignment
of certain gas supply contracts previously held by
Northern. Accepting assignment of these contracts
resulted in lower costs to Utilities than would have been
incurred had Northern bought out the agreements and
billed Utilities for its share of such costs.
Contracts assigned to Utilities from Northern have
maximum delivery requirements of 23,147 Dth, and minimum
take requirements of 5,851 Dth, under contracts ranging
in length from one to fifteen years.
Additional firm gas supply agreements were independently
negotiated by Utilities. These gas supply agreements
have maximum and minimum obligations as follows:
Maximum Minimum
Daily Quantity Daily Quantity
(Dth/day) (Dth/day)
Northern 55,410 29,983
Natural 21,575 18,812
ANR 25,000 18,500
These gas supply contracts have expiration dates ranging
from five months to nine years. Rates charged by
Utilities' pipeline suppliers are subject to regulation
by the FERC.
Terra Comfort -
Terra Comfort was a public utility engaged in the
production and wholesale sale of electricity
occurring at the bus bar of the generating facility.
Terra Comfort owned four gas turbine generator
plants with an aggregated nameplate capacity of
65,000 Kw located at West Burlington, Iowa. It also
owned two oil turbine generator plants located in
Centerville, Iowa with an aggregated nameplate
capacity of 49,000 Kw. Terra Comfort's primary
customer was Utilities. Effective December 31,
1994, Terra Comfort was sold to Utilities and its
operations were discontinued. The above mentioned
generating plants (114,000 Kw in total) are included
in Utilities' generating capability as noted in the
Electric Operations section of this report.
3. The following information provides the electric and
gas data for the year ended December 31, 1994:
a. Number of Kwh of electric energy sold:
Utilities
Retail 8,723,854,000
Wholesale 1,704,940,000 (i)
Terra Comfort
Wholesale 5,101,000
Number of Dekatherms of natural gas
distributed, including transported volumes:
Utilities 37,975,000
b. Number of Kwh of electric energy sold at retail
outside of the state of incorporation:
Utilities None
Terra Comfort None
Number of Dekatherms of natural gas distributed
at retail outside of the state of
incorporation:
Utilities None
c. Number of Kwh of electric energy sold at
wholesale outside of the state of
incorporation:
Primarily through transactions in MAPP
Utilities 874,403,000
Terra Comfort None
Number of Dekatherms of natural gas distributed
at wholesale outside of the state of
incorporation:
Utilities None
d. Number of Kwh of electric energy purchased
outside of the state of incorporation:
Primarily through transactions in MAPP
Utilities 1,739,718,000
Terra Comfort None
Number of Dekatherms of natural gas
purchased outside of the state
of incorporation:
Utilities 29,130,000 (ii)
(i) Includes sales to resale customers and off-
system sales to other utilities.
(ii) Represents spot gas purchases which
are transported to Utilities' distribution
systems (in the State of Iowa) via three
interstate pipeline systems.
4. Neither Industries nor any of its subsidiaries hold
an interest in an exempt wholesale generator or
foreign utility company.
Exhibit A
Exhibit A, pages 12 through 14, shows a consolidating
balance sheet of the claimant and its subsidiary companies as
of December 31, 1994, together with a consolidating statement
of income of claimant and its subsidiary companies for the
year ended December 31, 1994.
Exhibit A(i), pages 15 through 17, shows a consolidating
balance sheet as of December 31, 1994, together with a
consolidating statement of income for the year ended December
31, 1994, for Utilities.
Exhibit A(ii), pages 18 through 23, shows a consolidating
balance sheet as of December 31, 1994, together with a
consolidating statement of income for the year ended December
31, 1994, for Diversified.
Exhibit A(iii), pages 24 through 29, shows a
consolidating balance sheet as of December 31, 1994, together
with a consolidating statement of income for the year ended
December 31, 1994, for IES Transportation.
Exhibit A(iv), pages 30 through 38, shows a consolidating
balance sheet as of December 31, 1994, together with a
consolidating statement of income for the year ended December
31, 1994, for IES Investments.
Exhibit A(v), pages 39 through 44, shows a consolidating
balance sheet as of December 31, 1994, together with a
consolidating statement of income for the year ended December
31, 1994, for IES Energy.
Exhibit B: Financial Data Schedule
Item No. 1: Total Assets = $1,843,989,099
Item No. 2: Total Operating Revenues = $785,864,091
Item No. 3: Net Income = $66,817,600
Exhibit C
Neither Industries nor any of its subsidiaries hold an
interest in an exempt wholesale generator or foreign utility
company.
<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, 1995.
IES Industries Inc.
By /s/ Dr. Robert J. Latham
Dr. Robert J. Latham
Senior Vice President, Finance
Corporate Seal
Attest:
/s/ Stephen W. Southwick
All notices and correspondence concerning this statement
should be addressed to:
Richard A. Gabbianelli
Controller & Chief Accounting Officer
IES Industries Inc.
P. O. Box 351
Cedar Rapids, Iowa 52406
<PAGE>
IES Industries Inc. EXHIBIT A
Consolidated Balance Sheet PAGE 1 OF 3
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Consol.
IES IES IES Eliminat. IES
Utilities Diversified Industries Subtotal Entries Industries
Assets -
Utility Plant in Service:
Electric 1,798,059,459 0 0 1,798,059,459 1,798,059,459
Gas 158,115,263 0 0 158,115,263 158,115,263
Other 86,004,570 0 0 86,004,570 86,004,570
Total 2,042,179,292 0 0 2,042,179,292 0 2,042,179,292
Less - accum. depreciation (880,888,492) 0 0 (880,888,492) (880,888,492)
Net plant in service 1,161,290,800 0 0 1,161,290,800 0 1,161,290,800
Leased nuclear fuel 49,731,372 0 0 49,731,372 49,731,372
Construction work in progress 73,339,207 0 0 73,339,207 73,339,207
Total utility plant 1,284,361,379 0 0 1,284,361,379 0 1,284,361,379
Other property 1,823,146 186,571,936 0 188,395,082 (110,544) 188,284,538
Less - accum. depreciation 0 (34,490,238) 0 (34,490,238) (34,490,238)
Net other property 1,823,146 152,081,698 0 153,904,844 (110,544) 153,794,300
Total Property 1,286,184,525 152,081,698 0 1,438,266,223 (110,544) 1,438,155,679
Investments:
Consolidated subsidiaries 0 19 588,745,329 588,745,348 (588,745,329) 19
Equity investments 0 11,895,040 0 11,895,040 11,895,040
Decommissioning trust funds 33,779,467 0 0 33,779,467 33,779,467
Other 4,001,320 127,172 5,951,783 10,080,275 10,080,275
Total Investments 37,780,787 12,022,231 594,697,112 644,500,130 (588,745,329) 55,754,801
Current assets:
Cash 2,134,553 990,206 5,341 3,130,100 3,130,100
Cash on deposit with trustee 40,393 0 0 40,393 40,393
Temp. cash invest - affiliates (18,495,306) 5,180,230 13,315,072 (4) (4)
Temp. cash investments 0 1,596,701 265,715 1,862,416 1,862,416
Acct. rec. - customers, net 0 14,047,204 0 14,047,204 14,047,204
Acct. rec. - other 8,702,230 1,686,253 0 10,388,483 10,388,483
Acct. rec. - intercompany 1,061,014 6,622,003 1,326,455 9,009,472 (9,009,472) 0
Dividend rec. - intercompany 0 0 0 0 0
Income tax refund rec. 3,449,693 0 2,677,702 6,127,395 (4,797,614) 1,329,781
Accrued utility revenues 12,051,198 0 0 12,051,198 12,051,198
Production fuel 13,988,075 0 0 13,988,075 13,988,075
Materials and supplies 26,699,187 3,516,429 0 30,215,616 30,215,616
Prepayments and other 49,650,629 4,762,490 214,671 54,627,790 85,000 54,712,790
Energy adjustment clause balances 1,432,757 0 0 1,432,757 1,432,757
Total current assets 100,714,423 38,401,516 17,804,956 156,920,895 (13,722,086) 143,198,809
Other assets:
Deferred charges 9,239,287 415,654 15,055 9,669,996 9,669,996
Regulatory assets 192,955,133 0 0 192,955,133 192,955,133
Other 0 4,254,681 0 4,254,681 4,254,681
Total other assets 202,194,420 4,670,335 15,055 206,879,810 0 206,879,810
Total assets 1,626,874,155 207,175,780 612,517,123 2,446,567,058 (602,577,959) 1,843,989,099
NOTE: Numbers may not foot due to rounding.
Page 12
</TABLE>
<PAGE>
IES Industries Inc. EXHIBIT A
Consolidated Balance Sheet PAGE 2 OF 3
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Consol.
IES IES IES Eliminat. IES
Utilities Diversified Industries Subtotal Entries Industries
Capitalization and Liabilities -
Capitalization:
Common stock 33,426,970 113,872,941 373,489,633 520,789,544 (147,299,911) 373,489,633
Paid-in surplus 279,042,085 0 0 279,042,085 (279,042,085) 0
Retained earnings 197,157,930 (34,754,621) 218,397,838 380,801,147 (162,507,640) 218,293,507
Total common equity 509,626,985 79,118,320 591,887,471 1,180,632,776 (588,849,636) 591,783,140
Preferred stock 18,320,300 0 0 18,320,300 18,320,300
Long-term debt 380,403,866 92,801,687 0 473,205,553 473,205,553
Total Capitalization 908,351,151 171,920,007 591,887,471 1,672,158,629 (588,849,636) 1,083,308,993
Current liabilities:
Long-term debt maturities 100,140,000 282,000 0 100,422,000 100,422,000
Short-term borrowings 37,000,000 0 0 37,000,000 37,000,000
Nuclear fuel lease obligation 14,385,029 0 0 14,385,029 14,385,029
Accounts payable - trade 67,661,272 10,810,954 284,398 78,756,624 (174,989) 78,581,635
Accounts pay. - intercompany 2,693,068 3,232,833 2,823,582 8,749,483 (8,749,483) 0
Dividends pay. - intercompany 0 0 0 0 0
Dividends payable 228,521 0 15,610,422 15,838,943 15,838,943
Accrued interest 9,438,712 55,908 0 9,494,620 9,494,620
Accrued other taxes 40,139,036 2,506,522 0 42,645,558 42,645,558
Adjustment clause balances 0 0 0 0 0
Accrued income taxes 7,048,893 0 0 7,048,893 (4,797,614) 2,251,279
Accum. refueling outage prov. 15,196,146 0 0 15,196,146 15,196,146
Other 23,522,799 3,279,636 469,566 27,272,001 27,272,001
Total current liabilities 317,453,476 20,167,853 19,187,968 356,809,297 (13,722,086) 343,087,211
Long-term liabilities:
Nuclear fuel lease obligation 35,346,343 0 0 35,346,343 35,346,343
Environmental liabilities 37,853,462 434,000 0 38,287,462 38,287,462
Other 46,724,372 5,194,869 6,879,949 58,799,190 (6,237) 58,792,953
Total long-term liabilities 119,924,177 5,628,869 6,879,949 132,432,995 (6,237) 132,426,758
Deferred Credits:
Accum. deferred income taxes 241,344,588 9,459,038 (5,438,261) 245,365,365 245,365,365
Accum. deferred inv. tax cr. 39,800,761 0 0 39,800,761 39,800,761
Total deferred credits 281,145,349 9,459,038 (5,438,261) 285,166,126 0 285,166,126
Total cap. and liabilities 1,626,874,153 207,175,767 612,517,127 2,446,567,047 (602,577,959) 1,843,989,088
NOTE: Numbers may not foot due to rounding.
Page 13
</TABLE>
<PAGE>
IES Industries Inc. EXHIBIT A
Consolidated Statement of Income PAGE 3 OF 3
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Consol.
IES IES IES Eliminat. IES
Utilities Diversified Industries Subtotal Entries Industries
Revenues:
Electric 537,327,389 0 0 537,327,389 537,327,389
Gas 139,033,029 26,535,781 0 165,568,810 165,568,810
Steam 9,005,442 3,864,690 0 12,870,132 12,870,132
Other 0 72,202,947 0 72,202,947 (2,105,187) 70,097,760
Total revenues 685,365,860 102,603,418 0 787,969,278 (2,105,187) 785,864,091
Operating expenses:
Fuel for production 85,952,348 0 0 85,952,348 85,952,348
Purchased power 68,794,435 0 0 68,794,435 68,794,435
Gas purchased for resale 95,339,780 25,454,741 0 120,794,521 120,794,521
Other operating expenses 132,280,866 46,999,662 (312,211) 178,968,317 (2,105,187) 176,863,130
Maintenance 49,541,808 3,299,000 0 52,840,808 52,840,808
Depreciation and amortization 75,315,462 11,062,780 0 86,378,242 86,378,242
Property taxes 37,360,000 1,959,623 0 39,319,623 39,319,623
Miscellaneous taxes 5,190,303 1,797,698 0 6,988,001 6,988,001
Total operating expenses 549,775,002 90,573,504 (312,211) 640,036,295 (2,105,187) 637,931,108
Operating income 135,590,858 12,029,914 312,211 147,932,983 0 147,932,983
Other income and deductions:
AFUDC - equity (2,298,912) 0 0 (2,298,912) (2,298,912)
Income from subsidiaries (8,113) (27,935) (66,283,693) (66,319,741) 66,283,693 (36,048)
Miscellaneous (net) (1,238,818) (2,373,046) (479,784) (4,091,648) 655,623 (3,436,025)
Total (3,545,843) (2,400,981) (66,763,477) (72,710,301) 66,939,316 (5,770,985)
Interest expense and other:
Long-term debt 37,942,375 4,664,446 341,403 42,948,224 (655,623) 42,292,601
Other 3,629,689 87,808 0 3,717,497 3,717,497
Preferred dividends of sub. 0 0 0 0 914,374 914,374
AFUDC - debt (1,611,482) 0 0 (1,611,482) (1,611,482)
Total 39,960,582 4,752,254 341,403 45,054,239 258,751 45,312,990
Income before income taxes 99,176,119 9,678,641 66,734,285 175,589,045 (67,198,067) 108,390,978
Federal and state income tax:
Current 38,375,508 (1,149,056) 297,022 37,523,474 37,523,474
Deferred 2,236,041 4,852,634 (380,344) 6,708,331 6,708,331
Amortization of inv. tax. cr. (2,645,926) (12,499) 0 (2,658,425) (2,658,425)
Total 37,965,623 3,691,079 (83,322) 41,573,380 0 41,573,380
Net Income 61,210,496 5,987,562 66,817,607 134,015,665 (67,198,067) 66,817,598
Preferred dividend requirement 914,372 0 0 914,372 (914,374) (2)
Net Income for common stock 60,296,124 5,987,562 66,817,607 133,101,293 (66,283,693) 66,817,600
NOTE: Numbers may not foot due to rounding.
Page 14
</TABLE>
<PAGE>
IES Utilities Inc. EHXIBIT A(i)
Consolidated Balance Sheet PAGE 1 OF 3
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Consol.
IES Midland IES Eliminat. IES
Utilities Development Ventures Subtotal Entries Utilities Inc.
Assets -
Utility Plant in Service:
Electric 1,798,059,459 0 0 1,798,059,459 0 1,798,059,459
Gas 158,115,263 0 0 158,115,263 158,115,263
Other 86,004,570 0 0 86,004,570 86,004,570
Total 2,042,179,292 0 0 2,042,179,292 0 2,042,179,292
Less - accum. depreciation (880,888,492) 0 0 (880,888,492) (880,888,492)
Net plant in service 1,161,290,800 0 0 1,161,290,800 0 1,161,290,800
Leased nuclear fuel 49,731,372 0 0 49,731,372 49,731,372
Construction work in progress 73,339,207 0 0 73,339,207 0 73,339,207
Total utility plant 1,284,361,379 0 0 1,284,361,379 0 1,284,361,379
Other property 0 1,823,146 40,000 1,863,146 (40,000) 1,823,146
Less - accum. depreciation 0 0 0 0 0
Net other property 0 1,823,146 40,000 1,863,146 (40,000) 1,823,146
Total Property 1,284,361,379 1,823,146 40,000 1,286,224,525 (40,000) 1,286,184,525
Investments:
Consolidated subsidiaries 0 0 0 0 0 0
Equity investments 0 0 0 0 0
Decommissioning trust funds 33,779,467 0 0 33,779,467 33,779,467
Other 4,301,320 0 0 4,301,320 (300,000) 4,001,320
Total Investments 38,080,787 0 0 38,080,787 (300,000) 37,780,787
Current assets:
Cash 2,134,553 0 0 2,134,553 0 2,134,553
Cash on deposit with trustee 40,393 0 0 40,393 40,393
Temp. cash invest - affiliates (18,495,306) 0 0 (18,495,306) (18,495,306)
Temp. cash investments 0 0 0 0 0
Acct. rec. - customers, net 0 0 0 0 0
Acct. rec. - other 8,702,230 0 0 8,702,230 8,702,230
Acct. rec. - intercompany 2,584,160 0 0 2,584,160 (1,523,146) 1,061,014
Dividend rec. - intercompany 0 0 0 0 0 0
Income tax refund rec. 3,449,693 0 0 3,449,693 0 3,449,693
Accrued utility revenues 12,051,198 0 0 12,051,198 12,051,198
Production fuel 13,988,075 0 0 13,988,075 13,988,075
Materials and supplies 26,699,187 0 0 26,699,187 26,699,187
Prepayments and other 49,650,629 0 0 49,650,629 0 49,650,629
Energy adjustment clause balances 1,432,757 0 0 1,432,757 1,432,757
Total current assets 102,237,569 0 0 102,237,569 (1,523,146) 100,714,423
Other assets:
Deferred charges 9,239,287 0 0 9,239,287 0 9,239,287
Regulatory assets 192,955,133 0 0 192,955,133 0 192,955,133
Other 0 0 0 0
Total other assets 202,194,420 0 0 202,194,420 0 202,194,420
Total assets 1,626,874,155 1,823,146 40,000 1,628,737,301 (1,863,146) 1,626,874,155
NOTE: Numbers may not foot due to rounding.
Page 15
</TABLE>
<PAGE>
IES Utilities Inc. EXHIBIT A (i)
Consolidated Balance Sheet PAGE 2 OF 3
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Consol.
IES Midland IES Eliminat. IES
Utilities Development Ventures Subtotal Entries Industries
Capitalization and Liabilities -
Capitalization:
Common stock 33,426,970 300,000 40,000 33,766,970 (340,000) 33,426,970
Paid-in surplus 279,042,085 0 0 279,042,085 0 279,042,085
Retained earnings 197,157,930 0 0 197,157,930 0 197,157,930
Total common equity 509,626,985 300,000 40,000 509,966,985 (340,000) 509,626,985
Preferred stock 18,320,300 0 0 18,320,300 18,320,300
Long-term debt 380,403,866 0 0 380,403,866 380,403,866
Total Capitalization 908,351,151 300,000 40,000 908,691,151 (340,000) 908,351,151
Current liabilities:
Long-term debt maturities 100,140,000 0 0 100,140,000 100,140,000
Notes payable - asscociated
companies 0 0 0 0 0
Short-term borrowings 37,000,000 0 0 37,000,000 37,000,000
Nuclear fuel lease obligation 14,385,029 0 0 14,385,029 14,385,029
Accounts payable - trade 67,661,272 0 0 67,661,272 0 67,661,272
Accounts pay. - intercompany 2,693,068 1,523,146 0 4,216,214 (1,523,146) 2,693,068
Dividends pay. - intercompany 0 0 0 0 0
Dividends payable 228,521 0 0 228,521 228,521
Accrued interest 9,438,712 0 0 9,438,712 9,438,712
Accrued other taxes 40,139,036 0 0 40,139,036 40,139,036
Adjustment clause balances 0 0 0 0 0
Accrued income taxes 7,048,893 0 0 7,048,893 0 7,048,893
Accum. refueling outage prov. 15,196,146 0 0 15,196,146 15,196,146
Other 23,522,799 0 0 23,522,799 23,522,799
Total current liabilities 317,453,476 1,523,146 0 318,976,622 (1,523,146) 317,453,476
Long-term liabilities:
Nuclear fuel lease obligations 35,346,343 0 0 35,346,343 35,346,343
Environmental liabilities 37,853,462 0 0 37,853,462 37,853,462
Other 46,724,372 0 0 46,724,372 0 46,724,372
Total long-term liabilities 119,924,177 0 0 119,924,177 0 119,924,177
Deferred Credits:
Accum. deferred income taxes 241,344,588 0 0 241,344,588 241,344,588
Accum. deferred inv. tax cr. 39,800,761 0 0 39,800,761 39,800,761
Total deferred credits 281,145,349 0 0 281,145,349 0 281,145,349
Total cap. and liabilities 1,626,874,153 1,823,146 40,000 1,628,737,299 (1,863,146) 1,626,874,153
NOTE: Numbers may not foot due to rounding.
Page 16
</TABLE>
<PAGE>
IES Utilities Inc. EXHIBIT A (i)
Consolidated Statement of Income PAGE 3 OF 3
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Consol.
IES Midland IES Eliminat. IES
Utilities Development Ventures Subtotal Entries Utilities Inc.
Revenues:
Electric 537,327,389 0 0 537,327,389 537,327,389
Gas 139,033,029 0 0 139,033,029 139,033,029
Steam 9,005,442 0 0 9,005,442 9,005,442
Other 0 0 0 0 0 0
Total revenues 685,365,860 0 0 685,365,860 0 685,365,860
Operating expenses:
Fuel for production 85,952,348 0 0 85,952,348 85,952,348
Purchased power 68,794,435 0 0 68,794,435 68,794,435
Gas purchased for resale 95,339,780 0 0 95,339,780 95,339,780
Other operating expenses 132,280,866 0 0 132,280,866 0 132,280,866
Maintenance 49,541,808 0 0 49,541,808 49,541,808
Depreciation and amortization 75,315,462 0 0 75,315,462 75,315,462
Property taxes 37,360,000 0 0 37,360,000 37,360,000
Miscellaneous taxes 5,190,303 0 0 5,190,303 5,190,303
Total operating expenses 549,775,002 0 0 549,775,002 0 549,775,002
Operating income 135,590,858 0 0 135,590,858 0 135,590,858
Other income and deductions:
AFUDC - equity (2,298,912) 0 0 (2,298,912) (2,298,912)
Income from subsidiaries (8,113) 0 0 (8,113) 0 (8,113)
Miscellaneous (net) (1,238,818) 0 0 (1,238,818) 0 (1,238,818)
Total (3,545,843) 0 0 (3,545,843) 0 (3,545,843)
Interest expense and other:
Long-term debt 37,942,375 0 0 37,942,375 0 37,942,375
Other 3,629,689 0 0 3,629,689 3,629,689
Preferred dividends of sub. 0 0 0 0 0 0
AFUDC - debt (1,611,482) 0 0 (1,611,482) (1,611,482)
Total 39,960,582 0 0 39,960,582 0 39,960,582
Income before income taxes 99,176,119 0 0 99,176,119 0 99,176,119
Federal and state income tax:
Current 38,375,508 0 0 38,375,508 38,375,508
Deferred 2,236,041 0 0 2,236,041 2,236,041
Amortization of inv. tax. cr. (2,645,926) 0 0 (2,645,926) (2,645,926)
Total 37,965,623 0 0 37,965,623 0 37,965,623
Net Income 61,210,496 0 0 61,210,496 0 61,210,496
Preferred dividend requirement 914,372 914,372 914,372
Net Income for common stock 60,296,124 0 0 60,296,124 0 60,296,124
NOTE: Numbers may not foot due to rounding.
Page 17
</TABLE>
<PAGE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Balance Sheet PAGE 1 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
IES IES IES Terra IES
Transport. Investments Energy Comfort Diversified Subtotal
Assets -
Other property 44,641,202 40,413,868 102,900,946 0 255,716 188,211,732
Less - accum. depreciation (6,892,395) (5,139,874) (22,363,337) 0 (94,632) (34,490,238)
Net other property 37,748,807 35,273,994 80,537,609 0 161,084 153,721,494
Investments:
Consolidated subsidiaries 0 0 0 149,400,585 149,400,585
Equity investments 1,042,164 10,852,876 0 0 0 11,895,040
Decommissioning trust funds 0 0 0 0 0
Other 0 127,172 0 0 (1,544,393) (1,417,221)
Total Investments 1,042,164 10,980,048 0 0 147,856,192 159,878,404
Current assets:
Cash 457,068 550,429 669,300 0 (686,591) 990,206
Temp. cash invest - affiliates 0 0 0 0 5,180,230 5,180,230
Temp. cash investments 0 1,425,000 171,701 0 0 1,596,701
Acct. rec. - customers, net 3,223,043 192,985 10,631,176 0 0 14,047,204
Acct. rec. - other 0 1,177,901 498,352 0 10,000 1,686,253
Acct. rec. - intercompany 519,773 3,138,218 1,260,895 0 1,703,117 6,622,003
Materials and supplies 1,079,110 1,037,319 1,400,000 0 0 3,516,429
Prepayments and other 60,037 2,838,033 1,475,997 0 388,422 4,762,489
Total current assets 5,339,031 10,359,885 16,107,421 0 6,595,178 38,401,515
Other assets:
Advances payable to parent 0 0 0 0 (230,401) (230,401)
Deferred charges 1,604 285,108 0 0 128,942 415,654
Regulatory assets 0 0 0 0 0 0
Other 0 4,176,393 78,288 0 5,500,007 9,754,688
Total other assets 1,604 4,461,501 78,288 0 5,398,548 9,939,941
Total assets 44,131,606 61,075,428 96,723,318 0 160,011,002 361,941,354
NOTE: Numbers may not foot due to rounding.
Page 18
</TABLE>
<PAGE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Balance Sheet PAGE 2 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Diversified
Assets -
Other property 188,211,732 (1,639,796) 186,571,936
Less - accum. depreciation (34,490,238) (34,490,238)
Net other property 153,721,494 (1,639,796) 152,081,698
Investments:
Consolidated subsidiaries 149,400,585 (149,400,566) 19
Equity investments 11,895,040 11,895,040
Decommissioning trust funds 0 0
Other (1,417,221) 1,544,393 127,172
Total Investments 159,878,404 (147,856,173) 12,022,231
Current assets:
Cash 990,206 990,206
Temp. cash invest - affiliat 5,180,230 5,180,230
Temp. cash investments 1,596,701 1,596,701
Acct. rec. - customers, net 14,047,204 14,047,204
Acct. rec. - other 1,686,253 1,686,253
Acct. rec. - intercompany 6,622,003 6,622,003
Materials and supplies 3,516,429 3,516,429
Prepayments and other 4,762,489 1 4,762,490
Total current assets 38,401,515 1 38,401,516
Other assets:
Advances payable to parent (230,401) 230,401 0
Deferred charges 415,654 415,654
Regulatory assets 0 0
Other 9,754,688 (5,500,007) 4,254,681
Total other assets 9,939,941 (5,269,606) 4,670,335
Total assets 361,941,354 (154,765,574) 207,175,780
NOTE: Numbers may not foot due to rounding.
Page 19
</TABLE>
<PAGE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Balance Sheet PAGE 3 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
IES IES IES Terra IES
Transport. Investments Energy Comfort Diversified Subtotal
Capitalization and Liabilities -
Capitalization:
Common stock 24,944,664 42,053,242 68,892,650 0 113,872,941 249,763,497
Paid-in surplus 0 0 0 0 0 0
Retained earnings 3,462,085 (1,960,134) 12,008,059 0 (34,659,218) (21,149,208)
Total common equity 28,406,749 40,093,108 80,900,709 0 79,213,723 228,614,289
Long-term debt 5,500,000 12,301,687 0 0 80,500,000 98,301,687
Total Capitalization 33,906,749 52,394,795 80,900,709 0 159,713,723 326,915,976
Current liabilities:
Long-term debt maturities 0 282,000 0 0 0 282,000
Accounts payable - trade 1,187,580 478,790 9,019,066 0 125,518 10,810,954
Accounts pay. - intercompany 210,966 2,113,821 237,177 0 670,876 3,232,840
Dividends pay. - intercompany 0 0 0 0 0 0
Accrued interest 0 12,992 0 0 42,916 55,908
Accrued other taxes 983,879 704,928 817,715 0 0 2,506,522
Accrued income taxes 0 0 0 0 0 0
Other 1,857,929 742,421 639,213 0 40,073 3,279,636
Total current liabilities 4,240,354 4,334,952 10,713,171 0 879,383 20,167,860
Long-term liabilities:
Advance from parent (229,485) (917) 0 0 0 (230,402)
Environmental liabilities 0 360,000 74,000 0 0 434,000
Other 2,202,590 2,826,822 47,992 0 117,465 5,194,869
Total long-term liabilities 1,973,105 3,185,905 121,992 0 117,465 5,398,467
Deferred Credits:
Accum. deferred income taxes 4,011,387 1,159,775 4,987,445 0 (699,569) 9,459,038
Accum. deferred inv. tax cr. 0 0 0 0 0 0
Total deferred credits 4,011,387 1,159,775 4,987,445 0 (699,569) 9,459,038
Total cap. and liabilities 44,131,595 61,075,427 96,723,317 0 160,011,002 361,941,341
NOTE: Numbers may not foot due to rounding.
Page 20
</TABLE>
<PAGE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Balance Sheet PAGE 4 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Diversified
Capitalization and Liabilities -
Capitalization:
Common stock 249,763,497 (135,890,556) 113,872,941
Paid-in surplus 0 0
Retained earnings (21,149,208) (13,605,413) (34,754,621)
Total common equity 228,614,289 (149,495,969) 79,118,320
Long-term debt 98,301,687 (5,500,000) 92,801,687
Total Capitalization 326,915,976 (154,995,969) 171,920,007
Current liabilities:
Long-term debt maturities 282,000 282,000
Accounts payable - trade 10,810,954 10,810,954
Accounts pay. - intercompany 3,232,840 (7) 3,232,833
Dividends pay. - intercompany 0 0
Accrued interest 55,908 55,908
Accrued other taxes 2,506,522 2,506,522
Accrued income taxes 0 0
Other 3,279,636 3,279,636
Total current liabilities 20,167,860 (7) 20,167,853
Long-term liabilities:
Advance from parent (230,402) 230,402 0
Environmental liabilities 434,000 434,000
Other 5,194,869 5,194,869
Total long-term liabilities 5,398,467 230,402 5,628,869
Deferred Credits:
Accum. deferred income taxes 9,459,038 9,459,038
Accum. deferred inv. tax cr. 0 0
Total deferred credits 9,459,038 0 9,459,038
Total cap. and liabilities 361,941,341 (154,765,574) 207,175,767
NOTE: Numbers may not foot due to rounding.
Page 21
</TABLE>
<PAGE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Statement of Income PAGE 5 OF 6
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
IES IES IES Terra IES
Transport. Investments Energy Comfort Diversified Subtotal
Revenues:
Gas 0 0 26,535,781 0 0 26,535,781
Steam 0 0 3,864,690 0 0 3,864,690
Other 21,638,742 19,185,734 26,969,007 4,409,464 0 72,202,947
Total revenues 21,638,742 19,185,734 57,369,478 4,409,464 0 102,603,418
Operating expenses:
Gas purchased for resale 0 0 25,454,741 0 0 25,454,741
Other operating expenses 9,846,316 15,314,833 15,844,329 390,614 5,603,570 46,999,662
Maintenance 1,496,914 1,632,670 160,701 8,715 0 3,299,000
Depreciation and amortization 1,019,575 2,047,933 7,231,164 714,007 50,101 11,062,780
Property taxes 849,002 722,617 133,004 255,000 0 1,959,623
Miscellaneous taxes 765,066 50,698 981,934 0 0 1,797,698
Total operating expenses 13,976,873 19,768,751 49,805,873 1,368,336 5,653,671 90,573,504
Operating income 7,661,869 (583,017) 7,563,605 3,041,128 (5,653,671) 12,029,914
Other income and deductions:
Income from subsidiaries (25,996) (1,939) 0 0 (10,425,956) (10,453,891)
Other 62,963 (1,107,439) (90,191) (106,682) (2,260,771) (3,502,120)
Total 36,967 (1,109,378) (90,191) (106,682) (12,686,727) (13,956,011)
Interest expense 507,018 1,192,219 32,281 0 4,054,407 5,785,925
Income before income taxes 7,117,884 (665,858) 7,621,515 3,147,810 2,978,649 20,200,000
Federal and state income taxes:
Current 2,500,601 (1,774,293) 604,177 1,268,872 (3,748,413) (1,149,056)
Deferred 402,126 1,469,661 2,295,528 41,220 644,099 4,852,634
Amortization of inv. tax. cr. 0 (12,499) 0 0 0 (12,499)
Total income taxes 2,902,727 (317,131) 2,899,705 1,310,092 (3,104,314) 3,691,079
Net Income 4,215,157 (348,727) 4,721,810 1,837,718 6,082,963 16,508,921
NOTE: Numbers may not foot due to rounding.
Page 22
</TABLE>
<PAGE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Statement of Income PAGE 6 OF 6
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Diversified
Revenues:
Gas 26,535,781 26,535,781
Steam 3,864,690 3,864,690
Other 72,202,947 72,202,947
Total revenues 102,603,418 0 102,603,418
Operating expenses:
Gas purchased for resale 25,454,741 25,454,741
Other operating expenses 46,999,662 46,999,662
Maintenance 3,299,000 3,299,000
Depreciation and amortization 11,062,780 11,062,780
Property taxes 1,959,623 1,959,623
Miscellaneous taxes 1,797,698 1,797,698
Total operating expenses 90,573,504 0 90,573,504
Operating income 12,029,914 0 12,029,914
Other income and deductions:
Income from subsidiaries (10,453,891) 10,425,956 (27,935)
Other (3,502,120) 1,129,074 (2,373,046)
Total (13,956,011) 11,555,030 (2,400,981)
Interest expense 5,785,925 (1,033,671) 4,752,254
Income before income taxes 20,200,000 (10,521,359) 9,678,641
Federal and state income taxes:
Current (1,149,056) (1,149,056)
Deferred 4,852,634 4,852,634
Amortization of inv. tax. cr. (12,499) (12,499)
Total income taxes 3,691,079 0 3,691,079
Net Income 16,508,921 (10,521,359) 5,987,562
NOTE: Numbers may not foot due to rounding.
Page 23
</TABLE>
<PAGE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Balance Sheet PAGE 1 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
IES Railcar IEI Barge IES
CRANDIC Services Services Port of CR Transport. Subtotal
Assets -
Other property 26,313,048 7,143,397 10,075,781 853,523 0 44,385,749
Less - accum. depreciation (2,766,670) (1,377,747) (2,721,370) (26,608) 0 (6,892,395)
Net other property 23,546,378 5,765,650 7,354,411 826,915 0 37,493,354
Investments:
Consolidated subsidiaries 0 0 0 0 27,461,365 27,461,365
Equity investments 0 0 0 0 1,073,150 1,073,150
Decommissioning trust funds 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total Investments 0 0 0 0 28,534,515 28,534,515
Current assets:
Cash 1,300 750 455,018 0 0 457,068
Temp. cash invest - affiliates 0 0 0 0 0 0
Temp. cash investments 0 0 0 0 0 0
Acct. rec. - customers, net 2,033,088 1,037,769 137,005 15,181 0 3,223,043
Acct. rec. - other 0 0 0 0 0 0
Acct. rec. - intercompany 426,900 65,941 0 30,518 0 523,359
Materials and supplies 651,344 427,766 0 0 0 1,079,110
Prepayments and other 7,843 3,059 49,135 0 0 60,037
Total current assets 3,120,475 1,535,285 641,158 45,699 0 5,342,617
Other assets:
Deferred charges 1,604 0 0 0 0 1,604
Regulatory assets 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other assets 1,604 0 0 0 0 1,604
Total assets 26,668,457 7,300,935 7,995,569 872,614 28,534,515 71,372,090
NOTE: Numbers may not foot due to rounding.
Page 24
</TABLE>
<PAGE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Balance Sheet PAGE 2 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Transport
Assets -
Other property 44,385,749 255,453 44,641,202
Less - accum. depreciation (6,892,395) (6,892,395)
Net other property 37,493,354 255,453 37,748,807
Investments:
Consolidated subsidiaries 27,461,365 (27,461,365) 0
Equity investments 1,073,150 (30,986) 1,042,164
Decommissioning trust funds 0 0
Other 0 0
Total Investments 28,534,515 (27,492,351) 1,042,164
Current assets:
Cash 457,068 457,068
Temp. cash invest - affiliates 0 0
Temp. cash investments 0 0
Acct. rec. - customers, net 3,223,043 3,223,043
Acct. rec. - other 0 0
Acct. rec. - intercompany 523,359 (3,586) 519,773
Materials and supplies 1,079,110 1,079,110
Prepayments and other 60,037 60,037
Total current assets 5,342,617 (3,586) 5,339,031
Other assets:
Deferred charges 1,604 1,604
Regulatory assets 0 0
Other 0 0
Total other assets 1,604 0 1,604
Total assets 71,372,090 (27,240,484) 44,131,606
NOTE: Numbers may not foot due to rounding.
Page 25
</TABLE>
<PAGE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Balance Sheet PAGE 3 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
IES Railcar IEI Barge IES
CRANDIC Services Services Port of CR Transport. Subtotal
Capitalization and Liabilities -
Capitalization:
Common stock 500,000 7,509,441 2,466,800 899,905 24,944,664 36,320,810
Paid-in surplus 0 0 0 0 0 0
Retained earnings 17,958,340 (1,228,000) (250,768) (69,293) 3,462,085 19,872,364
Total common equity 18,458,340 6,281,441 2,216,032 830,612 28,406,749 56,193,174
Long-term debt 0 0 5,500,000 0 0 5,500,000
Total Capitalization 18,458,340 6,281,441 7,716,032 830,612 28,406,749 61,693,174
Current liabilities:
Long-term debt maturities 0 0 0 0 0 0
Accounts payable - trade 981,485 158,723 41,227 6,145 0 1,187,580
Accounts pay. - intercompany 170,698 10,576 4,273 4,878 24,127 214,552
Accrued interest 0 0 0 0 0 0
Accrued other taxes 753,483 136,074 73,522 20,800 0 983,879
Accrued income taxes 0 0 0 0 0 0
Other 1,434,365 30,074 390,000 3,490 0 1,857,929
Total current liabilities 3,340,031 335,447 509,022 35,313 24,127 4,243,940
Long-term liabilities:
Advance from parent 0 0 (229,485) 0 0 (229,485)
Environmental liabilities 0 0 0 0 0 0
Other 1,653,074 0 0 0 0 1,653,074
Total long-term liabilities 1,653,074 0 (229,485) 0 0 1,423,589
Deferred Credits:
Accum. deferred income taxes 3,217,012 684,047 0 6,689 103,639 4,011,387
Accum. deferred inv. tax cr. 0 0 0 0 0 0
Total deferred credits 3,217,012 684,047 0 6,689 103,639 4,011,387
Total cap. and liabilities 26,668,457 7,300,935 7,995,569 872,614 28,534,515 71,372,090
NOTE: Numbers may not foot due to rounding.
Page 26
</TABLE>
<PAGE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Balance Sheet PAGE 4 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Transport
Capitalization and Liabilities -
Capitalization:
Common stock 36,320,810 (11,376,146) 24,944,664
Paid-in surplus 0 0
Retained earnings 19,872,364 (16,410,279) 3,462,085
Total common equity 56,193,174 (27,786,425) 28,406,749
Long-term debt 5,500,000 5,500,000
Total Capitalization 61,693,174 (27,786,425) 33,906,749
Current liabilities:
Long-term debt maturities 0 0
Accounts payable - trade 1,187,580 1,187,580
Accounts pay. - intercompany 214,552 (3,586) 210,966
Accrued interest 0 0
Accrued other taxes 983,879 983,879
Accrued income taxes 0 0
Other 1,857,929 1,857,929
Total current liabilities 4,243,940 (3,586) 4,240,354
Long-term liabilities:
Advance from parent (229,485) (229,485)
Environmental liabilities 0 0
Other 1,653,074 549,516 2,202,590
Total long-term liabilities 1,423,589 549,516 1,973,105
Deferred Credits:
Accum. deferred income taxes 4,011,387 4,011,387
Accum. deferred inv. tax cr. 0 0
Total deferred credits 4,011,387 0 4,011,387
Total cap. and liabilities 71,372,090 (27,240,495) 44,131,595
NOTE: Numbers may not foot due to rounding.
Page 27
</TABLE>
<PAGE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Statement of Income PAGE 5 OF 6
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
IES Railcar IEI Barge IES
CRANDIC Services Services Port of CR Transport. Subtotal
Revenues:
Gas 0 0 0 0 0 0
Steam 0 0 0 0 0 0
Other 15,341,188 4,373,288 1,896,841 27,425 0 21,638,742
Total revenues 15,341,188 4,373,288 1,896,841 27,425 0 21,638,742
Operating expenses:
Gas purchased for resale 0 0 0 0 0 0
Other operating expenses 5,389,357 3,711,973 694,204 50,100 682 9,846,316
Maintenance 1,191,677 203,991 91,413 9,833 0 1,496,914
Depreciation and amortization 330,530 290,338 372,099 26,608 0 1,019,575
Property taxes 657,333 105,000 66,000 20,669 0 849,002
Miscellaneous taxes 575,649 157,217 32,200 0 0 765,066
Total operating expenses 8,144,546 4,468,519 1,255,916 107,210 682 13,976,873
Operating income 7,196,642 (95,231) 640,925 (79,785) (682) 7,661,869
Other income and deductions:
Income from subsidiaries 0 0 0 0 (4,239,593) (4,239,593)
Other (14,083) (7,758) 11,562 0 21,806 11,527
Total (14,083) (7,758) 11,562 0 (4,217,787) (4,228,066)
Interest expense 37,945 7,540 421,938 38,748 847 507,018
Income before income taxes 7,172,780 (95,013) 207,425 (118,533) 4,216,258 11,382,917
Federal and state income taxes:
Current 2,616,321 (63,365) 0 (55,928) 3,573 2,500,601
Deferred 371,635 26,268 0 6,689 (2,466) 402,126
Amortization of inv. tax. cr. 0 0 0 0 0 0
Total income taxes 2,987,956 (37,097) 0 (49,239) 1,107 2,902,727
Net Income 4,184,824 (57,916) 207,425 (69,294) 4,215,151 8,480,190
NOTE: Numbers may not foot due to rounding.
Page 28
</TABLE>
<PAGE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Statement of Income PAGE 6 OF 6
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Transport
Revenues:
Gas 0 0
Steam 0 0
Other 21,638,742 21,638,742
Total revenues 21,638,742 0 21,638,742
Operating expenses:
Gas purchased for resale 0 0
Other operating expenses 9,846,316 9,846,316
Maintenance 1,496,914 1,496,914
Depreciation and amortization 1,019,575 1,019,575
Property taxes 849,002 849,002
Miscellaneous taxes 765,066 765,066
Total operating expenses 13,976,873 0 13,976,873
Operating income 7,661,869 0 7,661,869
Other income and deductions:
Income from subsidiaries (4,239,593) 4,213,597 (25,996)
Other 11,527 51,436 62,963
Total (4,228,066) 4,265,033 36,967
Interest expense 507,018 507,018
Income before income taxes 11,382,917 (4,265,033) 7,117,884
Federal and state income taxes:
Current 2,500,601 2,500,601
Deferred 402,126 402,126
Amortization of inv. tax. cr. 0 0
Total income taxes 2,902,727 0 2,902,727
Net Income 8,480,190 (4,265,033) 4,215,157
NOTE: Numbers may not foot due to rounding.
Page 29
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 1 OF 9
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
2001 2060 Center
Iowa Land SIMCO SIDCO Develop. Develop. Place
Assets -
Other property 10,106,645 815,879 0 1,539,485 14,871,834 1,672,543
Less - accum. depreciation (1,185,572) (666,473) 0 (18,612) (1,669,507) (419,030)
Net other property 8,921,073 149,406 0 1,520,873 13,202,327 1,253,513
Investments:
Consolidated subsidiaries 0 0 0 2,676,025 0 0
Equity investments 0 0 0 99,646 0 0
Decommissioning trust funds 0 0 0 0 0 0
Other 0 0 0 127,172 0 0
Total Investments 0 0 0 2,902,843 0 0
Current assets:
Cash 17,010 10,100 0 153,419 340,821 51,423
Temp. cash invest - affiliates 0 0 0 0 0 0
Temp. cash investments 0 0 0 1,425,000 0 0
Acct. rec. - customers, net 56,718 88,331 0 0 12,580 0
Acct. rec. - other 0 0 0 0 0 0
Acct. rec. - intercompany 158,217 0 0 651,374 0 0
Materials and supplies 0 959,551 0 0 0 0
Prepayments and other 1,279,911 19,115 0 11,431 44,760 11,212
Total current assets 1,511,856 1,077,097 0 2,241,224 398,161 62,635
Other assets:
Deferred charges 38,468 0 0 0 246,640 0
Regulatory assets 0 0 0 0 0 0
Other 58,937 0 0 0 0 14,741
Total other assets 97,405 0 0 0 246,640 14,741
Total assets 10,530,334 1,226,503 0 6,664,940 13,847,128 1,330,889
NOTE: Numbers may not foot due to rounding.
Page 30
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 2 OF 9
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
2002 IES Village Village IES IES
Develop. Investco Resorts Lakeshares Leasing Investments
Assets -
Other property 2,126,113 0 1,200,000 8,630,754 0 (300,781)
Less - accum. depreciation (76,532) 0 0 (1,104,148) 0 0
Net other property 2,049,581 0 1,200,000 7,526,606 0 (300,781)
Investments:
Consolidated subsidiaries 0 0 0 0 0 31,503,459
Equity investments 0 2,419,728 0 0 0 8,333,502
Decommissioning trust funds 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total Investments 0 2,419,728 0 0 0 39,836,961
Current assets:
Cash 78,089 0 (75,688) (24,745) 0 0
Temp. cash invest - affiliates 0 0 0 0 0 0
Temp. cash investments 0 0 0 0 0 0
Acct. rec. - customers, net 12,938 0 2,369 20,049 0 0
Acct. rec. - other 0 1,078,000 0 99,901 0 0
Acct. rec. - intercompany 0 9,198 1,038,436 23,778 1,000 1,256,215
Materials and supplies 0 0 0 77,768 0 0
Prepayments and other 3,818 0 10,509 1,457,277 0 0
Total current assets 94,845 1,087,198 975,626 1,654,028 1,000 1,256,215
Other assets:
Deferred charges 0 0 0 0 0 0
Regulatory assets 0 0 0 0 0 0
Other 0 0 0 4,102,715 0 0
Total other assets 0 0 0 4,102,715 0 0
Total assets 2,144,426 3,506,926 2,175,626 13,283,349 1,000 40,792,395
NOTE: Numbers may not foot due to rounding.
Page 31
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 3 OF 9
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Investments
Assets -
Other property 40,662,472 (248,604) 40,413,868
Less - accum. depreciation (5,139,874) (5,139,874)
Net other property 35,522,598 (248,604) 35,273,994
Investments:
Consolidated subsidiaries 34,179,484 (34,179,484) 0
Equity investments 10,852,876 10,852,876
Decommissioning trust funds 0 0
Other 127,172 127,172
Total Investments 45,159,532 (34,179,484) 10,980,048
Current assets:
Cash 550,429 550,429
Temp. cash invest - affiliates 0 0
Temp. cash investments 1,425,000 1,425,000
Acct. rec. - customers, net 192,985 192,985
Acct. rec. - other 1,177,901 1,177,901
Acct. rec. - intercompany 3,138,218 3,138,218
Materials and supplies 1,037,319 1,037,319
Prepayments and other 2,838,033 2,838,033
Total current assets 10,359,885 0 10,359,885
Other assets:
Deferred charges 285,108 285,108
Regulatory assets 0 0
Other 4,176,393 4,176,393
Total other assets 4,461,501 0 4,461,501
Total assets 95,503,516 (34,428,088) 61,075,428
NOTE: Numbers may not foot due to rounding.
Page 32
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 4 OF 9
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
2001 2060 Center
Iowa Land SIMCO SIDCO Develop. Develop. Place
Capitalization and Liabilities -
Capitalization:
Common stock 200,000 935,000 0 8,250,000 4,956,972 1,205,891
Paid-in surplus 8,683,067 0 0 0 0 0
Retained earnings 790,860 95,245 0 (1,613,170) (2,563,403) (1,014,500)
Total common equity 9,673,927 1,030,245 0 6,636,830 2,393,569 191,391
Long-term debt 0 0 0 0 9,893,185 1,074,642
Total Capitalization 9,673,927 1,030,245 0 6,636,830 12,286,754 1,266,033
Current liabilities:
Long-term debt maturities 0 0 0 0 0 0
Accounts payable - trade 39,991 161,782 0 1,130 7,685 8,658
Accounts pay. - intercompany 231,703 24,949 0 0 1,351,028 0
Accrued interest 0 0 0 0 8,431 1,196
Accrued other taxes 145,097 22,397 0 26,980 169,958 45,500
Accrued income taxes 0 0 0 0 0 0
Other 70,000 0 0 0 0 9,500
Total current liabilities 486,791 209,128 0 28,110 1,537,102 64,854
Long-term liabilities:
Advance from parent 0 (917) 0 0 0 0
Environmental liabilities 360,000 0 0 0 0 0
Other 171,648 0 0 0 23,273 0
Total long-term liabilities 531,648 (917) 0 0 23,273 0
Deferred Credits:
Accum. deferred income taxe (162,030) (11,954) 0 0 0 0
Accum. deferred inv. tax cr 0 0 0 0 0 0
Total deferred credits (162,030) (11,954) 0 0 0 0
Total cap. and liabilities 10,530,336 1,226,502 0 6,664,940 13,847,129 1,330,887
NOTE: Numbers may not foot due to rounding.
Page 33
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 5 OF 9
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
2002 IES Village Village IES IES
Develop. Investco Resorts Lakeshares Leasing Investments
Capitalization and Liabilities -
Capitalization:
Common stock 9,807 1,000 2,821,785 13,520,209 1,000 42,053,242
Paid-in surplus 0 2,407,366 0 0 0 0
Retained earnings 10,800 623,685 (1,327,873) (1,182,356) 0 (1,711,530)
Total common equity 20,607 3,032,051 1,493,912 12,337,853 1,000 40,341,712
Long-term debt 1,615,860 0 0 0 0 0
Total Capitalization 1,636,467 3,032,051 1,493,912 12,337,853 1,000 40,341,712
Current liabilities:
Long-term debt maturities 0 0 0 0 0 0
Accounts payable - trade 9,362 0 84,329 165,853 0 0
Accounts pay. - intercompany 457,327 0 0 0 0 48,814
Accrued interest 3,365 0 0 0 0 0
Accrued other taxes 37,904 0 25,151 231,941 0 0
Accrued income taxes 0 0 0 0 0 0
Other 0 0 354,988 297,933 0 10,000
Total current liabilities 507,958 0 464,468 695,727 0 58,814
Long-term liabilities:
Advance from parent 0 0 0 0 0 0
Environmental liabilities 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total long-term liabilities 0 0 0 0 0 0
Deferred Credits:
Accum. deferred income taxe 0 474,875 217,246 249,769 0 391,869
Accum. deferred inv. tax cr. 0 0 0 0 0 0
Total deferred credits 0 474,875 217,246 249,769 0 391,869
Total cap. and liabilities 2,144,425 3,506,926 2,175,626 13,283,349 1,000 40,792,395
NOTE: Numbers may not foot due to rounding.
Page 34
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 6 OF 9
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Investments
Capitalization and Liabilities -
Capitalization:
Common stock 73,954,906 (31,901,664) 42,053,242
Paid-in surplus 11,090,433 (11,090,433) 0
Retained earnings (7,892,242) 5,932,108 (1,960,134)
Total common equity 77,153,097 (37,059,989) 40,093,108
Long-term debt 12,583,687 (282,000) 12,301,687
Total Capitalization 89,736,784 (37,341,989) 52,394,795
Current liabilities:
Long-term debt maturities 0 282,000 282,000
Accounts payable - trade 478,790 478,790
Accounts pay. - intercompany 2,113,821 2,113,821
Accrued interest 12,992 12,992
Accrued other taxes 704,928 704,928
Accrued income taxes 0 0
Other 742,421 742,421
Total current liabilities 4,052,952 282,000 4,334,952
Long-term liabilities:
Advance from parent (917) (917)
Environmental liabilities 360,000 360,000
Other 194,921 2,631,901 2,826,822
Total long-term liabilities 554,004 2,631,901 3,185,905
Deferred Credits:
Accum. deferred income taxe 1,159,775 1,159,775
Accum. deferred inv. tax cr. 0 0
Total deferred credits 1,159,775 0 1,159,775
Total cap. and liabilities 95,503,515 (34,428,088) 61,075,427
NOTE: Numbers may not foot due to rounding.
Page 35
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Statement of Income PAGE 7 OF 9
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
2001 2060 Center
Iowa Land SIMCO SIDCO Develop. Develop. Place
Revenues:
Gas 0 0 0 0 0 0
Steam 0 0 0 0 0 0
Other 2,504,298 2,650,116 873,033 250 2,569,514 298,763
Total revenues 2,504,298 2,650,116 873,033 250 2,569,514 298,763
Operating expenses:
Gas purchased for resale 0 0 0 0 0 0
Other operating expenses 1,874,384 2,138,496 111,775 103,044 658,004 90,293
Maintenance 296,821 9,617 553,221 8,973 269,121 41,906
Depreciation and amortization 187,607 27,627 183,844 (1,213) 461,828 66,958
Property taxes 146,100 21,678 8,474 13,842 200,195 52,364
Miscellaneous taxes 0 50,435 222 41 0 0
Total operating expenses 2,504,912 2,247,853 857,536 124,687 1,589,148 251,521
Operating income (614) 402,263 15,497 (124,437) 980,366 47,242
Other income and deductions:
Income from subsidiaries 0 0 0 (1,717) 0 0
Other (473,475) (11,862) (8,734) (562,406) 489,139 (1,482)
Total (473,475) (11,862) (8,734) (564,123) 489,139 (1,482)
Interest expense 2,542 0 0 0 887,998 89,739
Income before income taxes 470,319 414,125 24,231 439,686 (396,771) (41,015)
Federal and state income taxes:
Current 112,088 111,144 53,958 0 0 0
Deferred 88,903 34,142 (64,657) 0 0 0
Amortization of inv. tax. cr. 0 0 (12,499) 0 0 0
Total income taxes 200,991 145,286 (23,198) 0 0 0
Net Income 269,328 268,839 47,429 439,686 (396,771) (41,015)
NOTE: Numbers may not foot due to rounding.
Page 36
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Statement of Income PAGE 8 OF 9
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
2002 IES Village Village IES IES
Develop. Investco Resorts Lakeshares Leasing Investments
Revenues:
Gas 0 0 0 0 0 0
Steam 0 0 0 0 0 0
Other 436,800 0 4,212,136 5,640,824 0 0
Total revenues 436,800 0 4,212,136 5,640,824 0 0
Operating expenses:
Gas purchased for resale 0 0 0 0 0 0
Other operating expenses 171,348 34,629 3,651,114 6,481,796 0 (50)
Maintenance 80,017 0 143,113 229,881 0 0
Depreciation and amortization 62,734 0 480,000 578,548 0 0
Property taxes 28,158 0 129,640 117,166 0 5,000
Miscellaneous taxes 0 0 0 0 0 0
Total operating expenses 342,257 34,629 4,403,867 7,407,391 0 4,950
Operating income 94,543 (34,629) (191,731) (1,766,567) 0 (4,950)
Other income and deductions:
Income from subsidiaries 0 0 0 0 0 863,786
Other 13,970 (1,225,670) 1,443,871 (597,396) 0 (80,482)
Total 13,970 (1,225,670) 1,443,871 (597,396) 0 783,304
Interest expense 99,259 19,140 9,201 71,061 0 14,612
Income before income taxes (18,686) 1,171,901 (1,644,803) (1,240,232) 0 (802,866)
Federal and state income taxes:
Current 0 19,345 (897,550) 0 0 (1,173,278)
Deferred 0 474,875 217,246 0 0 719,152
Amortization of inv. tax. cr. 0 0 0 0 0 0
Total income taxes 0 494,220 (680,304) 0 0 (454,126)
Net Income (18,686) 677,681 (964,499) (1,240,232) 0 (348,740)
NOTE: Numbers may not foot due to rounding.
Page 37
</TABLE>
<PAGE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Statement of Income PAGE 9 OF 9
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Investments
Revenues:
Gas 0 0
Steam 0 0
Other 19,185,734 19,185,734
Total revenues 19,185,734 0 19,185,734
Operating expenses:
Gas purchased for resale 0 0
Other operating expenses 15,314,833 15,314,833
Maintenance 1,632,670 1,632,670
Depreciation and amortization 2,047,933 2,047,933
Property taxes 722,617 722,617
Miscellaneous taxes 50,698 50,698
Total operating expenses 19,768,751 0 19,768,751
Operating income (583,017) 0 (583,017)
Other income and deductions:
Income from subsidiaries 862,069 (864,008) (1,939)
Other (1,014,527) (92,912) (1,107,439)
Total (152,458) (956,920) (1,109,378)
Interest expense 1,193,552 (1,333) 1,192,219
Income before income taxes (1,624,111) 958,253 (665,858)
Federal and state income taxes:
Current (1,774,293) (1,774,293)
Deferred 1,469,661 1,469,661
Amortization of inv. tax. cr. (12,499) (12,499)
Total income taxes (317,131) 0 (317,131)
Net Income (1,306,980) 958,253 (348,727)
NOTE: Numbers may not foot due to rounding.
Page 38
</TABLE>
<PAGE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Balance Sheet PAGE 1 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
IES
IEA Whiting Ely Energy Subtotal
Assets -
Other property 19,569,462 83,331,484 0 0 102,900,946
Less - accum. depreciation (2,319,500) (20,043,837) 0 0 (22,363,337)
Net other property 17,249,962 63,287,647 0 0 80,537,609
Investments:
Consolidated subsidiaries 0 0 0 80,012,991 80,012,991
Equity investments 0 0 0 0 0
Decommissioning trust funds 0 0 0 0 0
Other 0 0 0 0 0
Total Investments 0 0 0 80,012,991 80,012,991
Current assets:
Cash 300 512,132 156,868 0 669,300
Temp. cash invest - affiliates 0 0 0 0 0
Temp. cash investments 0 171,701 0 0 171,701
Acct. rec. - customers, net 5,317,176 5,314,000 0 0 10,631,176
Acct. rec. - other 3,949 494,403 0 0 498,352
Acct. rec. - intercompany 157,634 1,103,261 0 0 1,260,895
Materials and supplies 0 1,400,000 0 0 1,400,000
Prepayments and other 916,215 559,782 0 0 1,475,997
Total current assets 6,395,274 9,555,279 156,868 0 16,107,421
Other assets:
Deferred charges 0 0 0 0 0
Regulatory assets 0 0 0 0 0
Other 63,400 14,888 0 0 78,288
Total other assets 63,400 14,888 0 0 78,288
Total assets 23,708,636 72,857,814 156,868 80,012,991 176,736,309
NOTE: Numbers may not foot due to rounding.
Page 39
</TABLE>
<PAGE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Balance Sheet PAGE 2 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Energy
Assets -
Other property 102,900,946 102,900,946
Less - accum. depreciation (22,363,337) (22,363,337)
Net other property 80,537,609 0 80,537,609
Investments:
Consolidated subsidiaries 80,012,991 (80,012,991) 0
Equity investments 0 0
Decommissioning trust funds 0 0
Other 0 0
Total Investments 80,012,991 (80,012,991) 0
Current assets:
Cash 669,300 669,300
Temp. cash invest - affiliat 0 0
Temp. cash investments 171,701 171,701
Acct. rec. - customers, net 10,631,176 10,631,176
Acct. rec. - other 498,352 498,352
Acct. rec. - intercompany 1,260,895 1,260,895
Materials and supplies 1,400,000 1,400,000
Prepayments and other 1,475,997 1,475,997
Total current assets 16,107,421 0 16,107,421
Other assets:
Deferred charges 0 0
Regulatory assets 0 0
Other 78,288 78,288
Total other assets 78,288 0 78,288
Total assets 176,736,309 (80,012,991) 96,723,318
NOTE: Numbers may not foot due to rounding.
Page 40
</TABLE>
<PAGE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Balance Sheet PAGE 3 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
IES
IEA Whiting Ely Energy Subtotal
Capitalization and Liabilities -
Capitalization:
Common stock 14,094,804 51,512,725 156,868 68,892,650 134,657,047
Paid-in surplus 0 0 0 0 0
Retained earnings 4,046,164 10,250,422 0 12,008,059 26,304,645
Total common equity 18,140,968 61,763,147 156,868 80,900,709 160,961,692
Long-term debt 0 0 0 0 0
Total Capitalization 18,140,968 61,763,147 156,868 80,900,709 160,961,692
Current liabilities:
Long-term debt maturities 0 0 0 0 0
Accounts payable - trade 4,341,760 4,677,306 0 0 9,019,066
Accounts pay. - intercompany 151,760 85,417 0 0 237,177
Accrued interest 0 0 0 0 0
Accrued other taxes 143,984 673,731 0 0 817,715
Accrued income taxes 0 0 0 0 0
Other 12,000 627,213 0 0 639,213
Total current liabilities 4,649,504 6,063,667 0 0 10,713,171
Long-term liabilities:
Advance from parent 0 0 0 0 0
Environmental liabilities 0 74,000 0 0 74,000
Other 0 0 0 0 0
Total long-term liabilities 0 74,000 0 0 74,000
Deferred Credits:
Accum. deferred income taxes 918,163 4,957,000 0 (887,718) 4,987,445
Accum. deferred inv. tax cr. 0 0 0 0 0
Total deferred credits 918,163 4,957,000 0 (887,718) 4,987,445
Total cap. and liabilities 23,708,635 72,857,814 156,868 80,012,991 176,736,308
NOTE: Numbers may not foot due to rounding.
Page 41
</TABLE>
<PAGE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Balance Sheet PAGE 4 OF 6
As of December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Energy
Capitalization and Liabilities -
Capitalization:
Common stock 134,657,047 (65,764,397) 68,892,650
Paid-in surplus 0 0
Retained earnings 26,304,645 (14,296,586) 12,008,059
Total common equity 160,961,692 (80,060,983) 80,900,709
Long-term debt 0 0
Total Capitalization 160,961,692 (80,060,983) 80,900,709
Current liabilities:
Long-term debt maturities 0 0
Accounts payable - trade 9,019,066 9,019,066
Accounts pay. - intercompany 237,177 237,177
Accrued interest 0 0
Accrued other taxes 817,715 817,715
Accrued income taxes 0 0
Other 639,213 639,213
Total current liabilities 10,713,171 0 10,713,171
Long-term liabilities:
Advance from parent 0 0
Environmental liabilities 74,000 74,000
Other 0 47,992 47,992
Total long-term liabilities 74,000 47,992 121,992
Deferred Credits:
Accum. deferred income taxes 4,987,445 4,987,445
Accum. deferred inv. tax cr. 0 0
Total deferred credits 4,987,445 0 4,987,445
Total cap. and liabilities 176,736,308 (80,012,991) 96,723,317
NOTE: Numbers may not foot due to rounding.
Page 42
</TABLE>
<PAGE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Statement of Income PAGE 5 OF 6
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
IES
IEA Whiting Ely Energy Subtotal
Revenues:
Gas 26,535,781 0 0 0 26,535,781
Steam 3,864,690 0 0 0 3,864,690
Other 2,395,640 24,573,367 0 0 26,969,007
Total revenues 32,796,111 24,573,367 0 0 57,369,478
Operating expenses:
Gas purchased for resale 25,454,741 0 0 0 25,454,741
Other operating expenses 4,099,714 11,744,615 0 0 15,844,329
Maintenance 160,701 0 0 0 160,701
Depreciation and amortization 559,807 6,671,357 0 0 7,231,164
Property taxes 133,004 0 0 0 133,004
Miscellaneous taxes 0 981,934 0 0 981,934
Total operating expenses 30,407,967 19,397,906 0 0 49,805,873
Operating income 2,388,144 5,175,461 0 0 7,563,605
Other income and deductions:
Income from subsidiaries 0 0 0 (4,719,502) (4,719,502)
Other 8,288 (95,484) 22,217 (3,554) (68,533)
Total 8,288 (95,484) 22,217 (4,723,056) (4,788,035)
Interest expense 4,167 28,114 0 0 32,281
Income before income taxes 2,375,689 5,242,831 (22,217) 4,723,056 12,319,359
Federal and state income taxes:
Current 780,700 (178,000) 0 1,477 604,177
Deferred 144,760 2,151,000 0 (232) 2,295,528
Amortization of inv. tax. cr. 0 0 0 0 0
Total income taxes 925,460 1,973,000 0 1,245 2,899,705
Net Income 1,450,229 3,269,831 (22,217) 4,721,811 9,419,654
NOTE: Numbers may not foot due to rounding.
Page 43
</TABLE>
<PAGE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Statement of Income PAGE 6 OF 6
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Consol.
Eliminat. IES
Subtotal Entries Energy
Revenues:
Gas 26,535,781 26,535,781
Steam 3,864,690 3,864,690
Other 26,969,007 26,969,007
Total revenues 57,369,478 0 57,369,478
Operating expenses:
Gas purchased for resale 25,454,741 25,454,741
Other operating expenses 15,844,329 15,844,329
Maintenance 160,701 160,701
Depreciation and amortization 7,231,164 7,231,164
Property taxes 133,004 133,004
Miscellaneous taxes 981,934 981,934
Total operating expenses 49,805,873 0 49,805,873
Operating income 7,563,605 0 7,563,605
Other income and deductions:
Income from subsidiaries (4,719,502) 4,719,502 0
Other (68,533) (21,658) (90,191)
Total (4,788,035) 4,697,844 (90,191)
Interest expense 32,281 32,281
Income before income taxes 12,319,359 (4,697,844) 7,621,515
Federal and state income taxes:
Current 604,177 604,177
Deferred 2,295,528 2,295,528
Amortization of inv. tax. cr. 0 0
Total income taxes 2,899,705 0 2,899,705
Net Income 9,419,654 (4,697,844) 4,721,810
NOTE: Numbers may not foot due to rounding.
Page 44
</TABLE>
<PAGE>
