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, the purchase, distribution and sale
of natural gas and to provide steam for industrial and heating
purposes. Incorporated in Iowa. Located in Cedar Rapids,
Iowa.
IES Diversified Inc. (Diversified) - Organized as a holding
company for Industries' diversified businesses. At December
31, 1995, 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, 1995.
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:
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 33.8% equity
investment as of December 31, 1995. 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, 1995. Incorporated in Iowa. Located in East
Dubuque, Illinois.
IES Railcar Service Center Inc. (Railcar) - Organized to wash,
repair and paint rail cars. Effective December 31, 1995,
Railcar was dissolved and its assets were transferred to
CRANDIC.
IES Transfer Services Inc. (Transfer Services) - Formerly
named Port of Cedar Rapids Inc. 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 had a 33.3% investment until it was sold in
November 1995.
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.
IES Energy Inc. (IES Energy) - Organized as a holding company
for non-regulated energy industry investments of Industries.
Incorporated in Iowa. Located in Cedar Rapids, Iowa.
Industrial Energy Applications, Inc. (IEA) - Organized to
provide commodities-based and facilities-based energy services
for customers, including purchasing energy, standby
generation, cogeneration, steam production, propane air
systems and pipeline bypass. A wholly-owned subsidiary of IES
Energy. Incorporated in Iowa. Located in Cedar Rapids, Iowa.
Whiting Petroleum Corporation (Whiting Petroleum) - Organized
to purchase, 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.
WOK Acquisition Company (WOK 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.
TOC Acquisition Company (TOC Acquisition) - Organized to
purchase, develop and produce crude oil and natural gas in the
United States until it was sold October 17, 1995.
Ely, Inc. - Ely, Inc. has no significant assets other than
cash. IES Energy has a 69.4% equity investment as of
December 31, 1995. 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 54.6% equity
investment as of December 31, 1995. 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, 1995. 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, 1995. The partnership is organized in Iowa and
located in Cedar Rapids, Iowa.
Prairie Ridge Business Park L.C. (Prairie Ridge) - Organized
to develop a business park in Cedar Rapids, Iowa. ILBC has
a 70% equity investment as of December 31, 1995.
Incorporated in Iowa. Located in Cedar Rapids, Iowa.
IES Leasing Inc. - Organized to provide leasing services until
it was dissolved during 1995.
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 until its assets were
sold during the second quarter of 1995 and SIMCO was
dissolved.
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, 1995. The
partnership is organized in Iowa and located in Spirit Lake,
Iowa.
McLeod, Inc. (McLeod) - Organized as a holding company for
various telecommunication businesses. At December 31, 1995,
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, the purchase,
distribution and sale of natural gas and to provide steam for
industrial and heating purposes. Utilities' operations are
discussed below.
Electric Operations:
Utilities' principal electric generating stations at December 31,
1995, are as follows:
Name and Location Major Fuel Net Kilowatts Accredited
of Station Type Generating Capability
Duane Arnold Energy Center,
Palo, Iowa Nuclear 364,000 (1)
Ottumwa Generating Station,
Ottumwa, Iowa Coal 343,440 (2)
Prairie Creek Station,
Cedar Rapids, Iowa Coal 212,500
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 1,125,940
Peaking Turbines,
Marshalltown, Iowa Oil 162,500
Centerville Combustion Turbines,
Centerville, Iowa Oil 48,000
Diesel Stations, all in Iowa Oil 12,200
Total Oil 222,700
Grinnell Station,
Grinnell, Iowa Gas 47,200
Agency Street Combustion Turbines,
West Burlington, Iowa Gas 63,750
Burlington Combustion Turbines,
Burlington, Iowa Gas 47,400
Total Gas 158,350
Total generating capability 1,870,990
(1) Represents Utilities' 70% ownership interest in this 520,000
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 1996 and 1997 requirements
of 80 Mw and 60 Mw of delivered capacity, respectively.
Utilities will also purchase an additional annual maximum
interruptible capacity of up to 54 Mw of 25 Hz power, which
extends through 1998.
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, 1995, the transmission lines of Utilities,
operating from 34,000 to 345,000 volts, approximated 4,409
circuit miles (all located in Iowa). Utilities owned 108
transmission substations (all located in Iowa) with a total
installed capacity of 8,597.1 MVa and 468 distribution
substations (all located in Iowa) with a total installed
capacity of 2,593.1 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 28 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. 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. 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 began paying the transition costs in 1993 and at December
31, 1995, has recorded a liability of $5.0 million for those
transition costs that have been incurred, but not yet billed, by
the pipelines to date, including $1.9 million expected to be billed
through 1996. 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 $7.0 million. The
ultimate level of costs to be billed to Utilities depends on the
pipelines' future 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 grants Utilities
the right to take more or less gas than is actually scheduled 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 (Dekatherm/day) 142,996 48,218 10,000
Expiration date 10/31/97 10/31/97 10/31/97
Natural:
Volume (Dekatherm/day) 28,605 35,010 -
Expiration date 11/30/2000 11/30/98 -
ANR:
Volume (Dekatherm/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 Dekatherm(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 13,631 Dth, and minimum take requirements of 2,726
Dth. Additional firm gas supply agreements were independently
negotiated by Utilities with various non-pipeline suppliers. These
gas supply agreements have maximum and minimum obligations and will
be delivered through gas transmission pipelines as follows:
Maximum Minimum
Daily Quantity Daily Quantity
(Dth/day) (Dth/day)
Northern 56,681 37,939
Natural 24,575 19,575
ANR 28,000 20,000
These gas supply contracts have expiration dates ranging from five
months to six years. Rates charged by Utilities' suppliers are
subject to regulation by the FERC.
3. The following information provides the electric and gas data
for the year ended December 31, 1995:
a. Number of Kwh of electric energy sold:
Utilities
Retail 9,283,795,000
Wholesale 1,585,840,000 (i)
Number of Dekatherms of natural gas distributed,
including transported volumes:
Utilities 39,805,000
b. Number of Kwh of electric energy sold at retail outside
of the state of incorporation:
Utilities 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 891,419,000
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 1,628,865,000
Number of Dekatherms of natural gas purchased
outside of the state of incorporation:
Utilities 29,719,000 (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. a. IES Industries has direct and indirect interests in
the common equity of two New Zealand utility companies.
Powerco Limited (Powerco)
151 St Hill Street
Wanganui, New Zealand
Powerco statistics:
72,000 electric customers
15,000 gas customers
850,000 Mwh electric sales
750,000 Mcf gas sales
14,400 sq. Km Electric Network Service Area
600 Km of gas distribution lines
9.4 Mw of installed generating capacity
$70 million of fixed capital assets (U.S. dollars)
$80 million of annual revenue (U.S. dollars)
Central Power Limited (Central Power)
400 Church Street
Palmerston North, New Zealand
Central Power statistics:
33,000 electric customers
415,000 Mwh electric sales
6,200 sq. Km Electric Network Service Area
No electric generation capacity
$20 million of fixed capital assets (U.S. dollars)
$30 million of annual revenue (U.S. dollars)
b. & c. At December 31, 1995, IES Investments Inc.
(Investments) owned approximately 6% of the common equity
of both Powerco and Central Power. Investments also has
a $10 million loan to a New Zealand corporation and such
loan is secured by stock options of the borrower. The
borrower also has beneficial ownership interest in
Powerco of less than 10%. These investments are
considered energy-related investments and therefore may
be included with IES Energy Inc. for management purposes.
d. Powerco (Year ended March 31, 1995) pro forma,
including results of Powerco and Taranaki Energy Limited
which were merged effective 10/1/95:
Millions U.S. $
Net Income $ 7
Capitalization (Shareholder Funds) $ 83
Central Power (Year ended March 31, 1995):
Millions U.S. $
Net Income $ 3
Capitalization (Shareholder Funds) $ 34
e. There are no service, sales or construction
contracts between IES Industries Inc., or any of its
subsidiaries, and Powerco or Central Power.
Exhibit A
Exhibit A, pages 13 through 15, shows a consolidating balance sheet
of the claimant and its subsidiary companies as of December 31, 1995,
together with a consolidating statement of income of claimant and its
subsidiary companies for the year ended December 31, 1995.
Exhibit A(i), pages 16 through 18, shows a consolidating balance
sheet as of December 31, 1995, together with a consolidating statement
of income for the year ended December 31, 1995, for Utilities.
Exhibit A(ii), pages 19 through 24, shows a consolidating balance
sheet as of December 31, 1995, together with a consolidating statement
of income for the year ended December 31, 1995, for Diversified.
Exhibit A(iii), pages 25 through 30, shows a consolidating balance
sheet as of December 31, 1995, together with a consolidating statement
of income for the year ended December 31, 1995, for IES Transportation.
Exhibit A(iv), pages 31 through 39, shows a consolidating balance
sheet as of December 31, 1995, together with a consolidating statement
of income for the year ended December 31, 1995, for IES Investments.
Exhibit A(v), pages 40 through 45, shows a consolidating balance
sheet as of December 31, 1995, together with a consolidating statement
of income for the year ended December 31, 1995, for IES Energy.
Exhibit B: Financial Data Schedule
Item No. 1: Total Assets = $1,985,590,992
Item No. 2: Total Operating Revenues = $851,009,927
Item No. 3: Net Income = $64,175,912
Exhibit C
At December 31, 1995, IES Investments Inc. owned approximately 6%
of the common equity of both Powerco Limited and Central Power Limited,
two New Zealand utility companies. IES Investments Inc. is a wholly-
owned subsidiary of IES Diversified Inc. and IES Diversifed Inc. is a
wholly-owned subsidiary of IES Industries Inc., the claimant of this
report.
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, 1996.
IES Industries Inc.
By /s/ Dennis B. Vass
Dennis B. Vass
Treasurer & Principal Financial Officer
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
<TABLE>
IES Industries Inc. EXHIBIT A
Consolidated Balance Sheet PAGE 1 OF 3
As of December 31, 1995
<CAPTION>
Consol.
IES IES IES Eliminat. IES
Utilities Diversified Industries Subtotal Entries Industries
<S> <C> <C> <C> <C> <C> <C>
Assets -
Utility Plant in Service:
Electric 1,900,157,432 0 0 1,900,157,432 1,900,157,432
Gas 165,825,102 0 0 165,825,102 165,825,102
Other 106,395,902 0 0 106,395,902 106,395,902
Total 2,172,378,436 0 0 2,172,378,436 0 2,172,378,436
Less - accum. depreciation -950,323,684 0 0 -950,323,684 -950,323,684
Net plant in service 1,222,054,752 0 0 1,222,054,752 0 1,222,054,752
Leased nuclear fuel 36,935,170 0 0 36,935,170 36,935,170
Construction work in progress 52,771,661 0 0 52,771,661 52,771,661
Total utility plant 1,311,761,583 0 0 1,311,761,583 0 1,311,761,583
Other property 6,642,709 239,708,086 0 246,350,795 -110,544 246,240,251
Less - accum. depreciation -1,165,703 -51,860,255 0 -53,025,958 -53,025,958
Net other property 5,477,006 187,847,831 0 193,324,837 -110,544 193,214,293
Total Property 1,317,238,589 187,847,831 0 1,505,086,420 -110,544 1,504,975,876
Investments:
Consolidated subsidiaries 0 74 608,124,285 608,124,359 -608,124,285 74
Equity investments 423,631 37,392,083 0 37,815,714 37,815,714
Decommissioning trust funds 47,027,706 0 0 47,027,706 47,027,706
Other 3,633,336 0 6,256,031 9,889,367 9,889,367
Total Investments 51,084,673 37,392,157 614,380,316 702,857,146 -608,124,285 94,732,861
Current assets:
Cash 2,733,674 1,904,597 -213,379 4,424,892 4,424,892
Cash on deposit with trustee 61,566 0 0 61,566 61,566
Temp. cash invest - affiliates -8,887,656 -4,600,741 13,488,397 0 0
Temp. cash investments 0 1,309,854 1,206,886 2,516,740 2,516,740
Acct. rec. - customers, net 0 18,595,842 0 18,595,842 18,595,842
Acct. rec. - other 8,262,936 1,438,396 792,044 10,493,376 10,493,376
Acct. rec. - intercompany 649,386 3,553,990 4,421,702 8,625,078 -8,625,078 0
Dividend rec. - intercompany 0 0 0 0 0
Income tax refund rec. 845,937 6,092 0 852,029 130,398 982,427
Accrued utility revenues 18,618,645 0 0 18,618,645 18,618,645
Production fuel 12,155,391 0 0 12,155,391 12,155,391
Materials and supplies 27,228,988 1,125,384 0 28,354,372 28,354,372
Prepayments and other 41,284,808 14,183,570 201,491 55,669,869 55,669,869
Energy adjustment clause balances 0 0 0 0 0
Total current assets 102,953,675 37,516,984 19,897,141 160,367,800 -8,494,680 151,873,120
Other assets:
Deferred charges 21,268,120 256,710 42,093 21,566,923 21,566,923
Regulatory assets 207,202,152 0 0 207,202,152 207,202,152
Other 0 5,240,060 0 5,240,060 5,240,060
Total other assets 228,470,272 5,496,770 42,093 234,009,135 0 234,009,135
Total assets 1,699,747,209 268,253,742 634,319,550 2,602,320,501 -616,729,509 1,985,590,992
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Industries Inc. EXHIBIT A
Consolidated Balance Sheet PAGE 2 OF 3
As of December 31, 1995
<CAPTION>
Consol.
IES IES IES Eliminat. IES
Utilities Diversified Industries Subtotal Entries Industries
<S> <C> <C> <C> <C> <C> <C>
Capitalization and Liabilities -
Capitalization:
Common stock 33,426,970 113,872,941 391,269,191 538,569,102 -147,299,911 391,269,191
Paid-in surplus 279,042,085 0 0 279,042,085 -279,042,085 0
Retained earnings 212,522,125 -30,739,860 221,181,399 402,963,664 -181,886,596 221,077,068
Total common equity 524,991,180 83,133,081 612,450,590 1,220,574,851 -608,228,592 612,346,259
Preferred stock 18,320,300 0 0 18,320,300 18,320,300
Long-term debt 465,462,762 136,245,256 0 601,708,018 601,708,018
Total Capitalization 1,008,774,242 219,378,337 612,450,590 1,840,603,169 -608,228,592 1,232,374,577
Current liabilities:
Long-term debt maturities 15,140,000 307,000 0 15,447,000 15,447,000
Short-term borrowings 101,000,000 0 0 101,000,000 101,000,000
Nuclear fuel lease obligation 15,717,425 0 0 15,717,425 15,717,425
Accounts payable - trade 60,156,231 19,775,815 192,365 80,124,411 -35,177 80,089,234
Accounts pay. - intercompany 4,407,586 4,182,315 0 8,589,901 -8,589,901 0
Dividends pay. - intercompany 0 0 0 0 0
Dividends payable 228,594 0 16,015,383 16,243,977 16,243,977
Accrued interest 8,037,648 13,424 0 8,051,072 8,051,072
Accrued other taxes 41,616,353 2,294,739 1,456 43,912,548 43,912,548
Adjustment clause balances 3,148,194 0 0 3,148,194 3,148,194
Accrued income taxes 8,752,465 0 1,187,481 9,939,946 130,398 10,070,344
Accum. refueling outage prov. 7,690,040 0 0 7,690,040 7,690,040
Other 22,592,470 3,487,225 1,353,923 27,433,618 27,433,618
Total current liabilities 288,487,006 30,060,518 18,750,608 337,298,132 -8,494,680 328,803,452
Long-term liabilities:
Nuclear fuel lease obligations 21,217,745 0 0 21,217,745 21,217,745
Environmental liabilities 40,904,964 2,182,000 0 43,086,964 43,086,964
Other 50,584,995 6,087,099 9,048,907 65,721,001 -6,237 65,714,764
Total long-term liabilities 112,707,704 8,269,099 9,048,907 130,025,710 -6,237 130,019,473
Deferred Credits:
Accum. deferred income taxes 252,662,975 10,545,788 -5,930,555 257,278,208 257,278,208
Accum. deferred inv. tax cr. 37,115,280 0 0 37,115,280 37,115,280
Total deferred credits 289,778,255 10,545,788 -5,930,555 294,393,488 0 294,393,488
Total cap. and liabilities 1,699,747,207 268,253,742 634,319,550 2,602,320,499 -616,729,509 1,985,590,990
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Industries Inc. EXHIBIT A
Consolidated Statement of Income PAGE 3 OF 3
For the Year Ended December 31, 1995
<CAPTION>
Consol.
IES IES IES Eliminat. IES
Utilities Diversified Industries Subtotal Entries Industries
<S> <C> <C> <C> <C> <C> <C>
Revenues:
Electric 560,471,120 0 0 560,471,120 560,471,120
Gas 137,292,527 53,046,710 0 190,339,237 190,339,237
Steam 11,855,093 3,928,901 0 15,783,994 15,783,994
Other 207,746 86,072,378 0 86,280,124 -1,864,548 84,415,576
Total revenues 709,826,486 143,047,989 0 852,874,475 -1,864,548 851,009,927
Operating expenses:
Fuel for production 96,255,834 0 0 96,255,834 96,255,834
Purchased power 66,874,146 0 0 66,874,146 66,874,146
Gas purchased for resale 91,197,916 50,518,681 0 141,716,597 141,716,597
Other operating expenses 145,249,680 58,366,004 -361,187 203,254,497 -1,864,548 201,389,949
Maintenance 43,586,387 2,506,625 0 46,093,012 46,093,012
Depreciation and amortization 79,384,205 18,573,521 0 97,957,726 97,957,726
Property taxes 39,964,668 1,751,546 0 41,716,214 41,716,214
Miscellaneous taxes 5,048,568 2,246,123 0 7,294,691 7,294,691
Total operating expenses 567,561,404 133,962,500 -361,187 701,162,717 -1,864,548 699,298,169
Operating income 142,265,082 9,085,489 361,187 151,711,758 0 151,711,758
Other income and deductions:
AFUDC - equity -386,116 0 0 -386,116 -386,116
Income from subsidiaries 120,296 -65,978 -63,378,956 -63,324,638 63,378,956 54,318
Miscellaneous (net) 734,914 -3,773,324 -498,871 -3,537,281 312,084 -3,225,197
Total 469,094 -3,839,302 -63,877,827 -67,248,035 63,691,040 -3,556,995
Interest expense and other:
Long-term debt 36,375,418 6,346,716 151,367 42,873,501 -312,084 42,561,417
Other 8,084,954 80,650 0 8,165,604 8,165,604
Preferred dividends of sub. 0 0 0 0 914,374 914,374
AFUDC - debt -3,037,874 0 0 -3,037,874 -3,037,874
Total 41,422,498 6,427,366 151,367 48,001,231 602,290 48,603,521
Income before income taxes 100,373,490 6,497,425 64,087,647 170,958,562 -64,293,330 106,665,232
Federal and state income tax:
Current 33,466,862 861,911 404,023 34,732,796 34,732,796
Deferred 10,313,549 620,751 -492,293 10,442,007 10,442,007
Amortization of inv. tax. cr. -2,685,481 0 0 -2,685,481 -2,685,481
Total 41,094,930 1,482,662 -88,270 42,489,322 0 42,489,322
Net Income 59,278,560 5,014,763 64,175,917 128,469,240 -64,293,330 64,175,910
Preferred dividend requirement 914,372 0 0 914,372 -914,374 -2
Net Income for common stock 58,364,188 5,014,763 64,175,917 127,554,868 -63,378,956 64,175,912
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Utilities Inc. EHXIBIT A(i)
Consolidated Balance Sheet PAGE 1 OF 3
As of December 31, 1995
<CAPTION>
Consol.
IES Midland IES Eliminat. IES
Utilities Development Ventures Subtotal Entries Utilities Inc.
<S> <C> <C> <C> <C> <C> <C>
Assets -
Utility Plant in Service:
Electric 1,891,979,450 0 0 1,891,979,450 8,177,982 1,900,157,432
Gas 165,825,102 0 0 165,825,102 165,825,102
Other 106,395,902 0 0 106,395,902 106,395,902
Total 2,164,200,454 0 0 2,164,200,454 8,177,982 2,172,378,436
Less - accum. depreciation -950,323,684 0 0 -950,323,684 -950,323,684
Net plant in service 1,213,876,770 0 0 1,213,876,770 8,177,982 1,222,054,752
Leased nuclear fuel 36,935,170 0 0 36,935,170 36,935,170
Construction work in progress 51,454,271 0 0 51,454,271 1,317,390 52,771,661
Total utility plant 1,302,266,211 0 0 1,302,266,211 9,495,372 1,311,761,583
Other property 0 4,678,015 0 4,678,015 1,964,694 6,642,709
Less - accum. depreciation 0 -6,425 0 -6,425 -1,159,278 -1,165,703
Net other property 0 4,671,590 0 4,671,590 805,416 5,477,006
Total Property 1,302,266,211 4,671,590 0 1,306,937,801 10,300,788 1,317,238,589
Investments:
Consolidated subsidiaries 4,711,064 0 0 4,711,064 -4,711,064 0
Equity investments 423,631 0 0 423,631 423,631
Decommissioning trust funds 47,027,706 0 0 47,027,706 47,027,706
Other 4,438,752 0 0 4,438,752 -805,416 3,633,336
Total Investments 56,601,153 0 0 56,601,153 -5,516,480 51,084,673
Current assets:
Cash 2,733,674 0 0 2,733,674 0 2,733,674
Cash on deposit with trustee 61,566 0 0 61,566 61,566
Temp. cash invest - affiliates -8,887,656 0 0 -8,887,656 -8,887,656
Temp. cash investments 0 0 0 0 0
Acct. rec. - customers, net 0 0 0 0 0
Acct. rec. - other 8,262,936 0 1,104,701 9,367,637 -1,104,701 8,262,936
Acct. rec. - intercompany 1,776,439 0 0 1,776,439 -1,127,053 649,386
Dividend rec. - intercompany 0 0 0 0 0 0
Income tax refund rec. 845,937 0 0 845,937 0 845,937
Accrued utility revenues 18,618,645 0 0 18,618,645 18,618,645
Production fuel 12,155,391 0 0 12,155,391 12,155,391
Materials and supplies 27,228,988 0 0 27,228,988 27,228,988
Prepayments and other 40,180,107 0 0 40,180,107 1,104,701 41,284,808
Energy adjustment clause balances 0 0 0 0 0
Total current assets 102,976,027 0 1,104,701 104,080,728 -1,127,053 102,953,675
Other assets:
Deferred charges 21,268,120 0 0 21,268,120 0 21,268,120
Regulatory assets 216,697,524 0 0 216,697,524 -9,495,372 207,202,152
Other 0 0 0 0 0
Total other assets 237,965,644 0 0 237,965,644 -9,495,372 228,470,272
Total assets 1,699,809,035 4,671,590 1,104,701 1,705,585,326 -5,838,117 1,699,747,209
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Utilities Inc. EXHIBIT A (i)
Consolidated Balance Sheet PAGE 2 OF 3
As of December 31, 1995
<CAPTION> Consol.
IES Midland IES Eliminat. IES
Utilities Development Ventures Subtotal Entries Industries
<S> <C> <C> <C> <C> <C> <C>
Capitalization and Liabilities -
Capitalization:
Common stock 33,426,970 4,678,015 0 38,104,985 -4,678,015 33,426,970
Paid-in surplus 279,042,085 0 0 279,042,085 0 279,042,085
Retained earnings 212,522,125 0 33,049 212,555,174 -33,049 212,522,125
Total common equity 524,991,180 4,678,015 33,049 529,702,244 -4,711,064 524,991,180
Preferred stock 18,320,300 0 0 18,320,300 18,320,300
Long-term debt 465,462,762 0 0 465,462,762 465,462,762
Total Capitalization 1,008,774,242 4,678,015 33,049 1,013,485,306 -4,711,064 1,008,774,242
Current liabilities:
Long-term debt maturities 15,140,000 0 0 15,140,000 15,140,000
Notes payable -
asscociated companies 0 0 1,104,701 1,104,701 -1,104,701 0
Short-term borrowings 101,000,000 0 0 101,000,000 101,000,000
Nuclear fuel lease obligation 15,717,425 0 0 15,717,425 15,717,425
Accounts payable - trade 60,156,231 0 0 60,156,231 0 60,156,231
Accounts pay. - intercompany 4,469,413 -6,426 -33,049 4,429,938 -22,352 4,407,586
Dividends pay. - intercompany 0 0 0 0 0
Dividends payable 228,594 0 0 228,594 228,594
Accrued interest 8,037,648 0 0 8,037,648 8,037,648
Accrued other taxes 41,616,353 0 0 41,616,353 41,616,353
Adjustment clause balances 3,148,194 0 0 3,148,194 3,148,194
Accrued income taxes 8,752,465 0 0 8,752,465 8,752,465
Accum. refueling outage prov. 7,690,040 0 0 7,690,040 7,690,040
Other 22,592,470 0 0 22,592,470 22,592,470
Total current liabilities 288,548,833 -6,426 1,071,652 289,614,059 -1,127,053 288,487,006
Long-term liabilities:
Nuclear fuel lease obligations 21,217,745 0 0 21,217,745 21,217,745
Environmental liabilities 40,904,964 0 0 40,904,964 40,904,964
Other 50,584,995 0 0 50,584,995 0 50,584,995
Total long-term liabilities 112,707,704 0 0 112,707,704 0 112,707,704
Deferred Credits:
Accum. deferred income taxes 252,662,975 0 0 252,662,975 252,662,975
Accum. deferred inv. tax cr. 37,115,280 0 0 37,115,280 37,115,280
Total deferred credits 289,778,255 0 0 289,778,255 0 289,778,255
Total cap. and liabilities 1,699,809,034 4,671,589 1,104,701 1,705,585,324 -5,838,117 1,699,747,207
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Utilities Inc. EXHIBIT A (i)
Consolidated Statement of Income PAGE 3 OF 3
For the Year Ended December 31, 1995
<CAPTION> Consol.
IES Midland IES Eliminat. IES
Utilities Development Ventures Subtotal Entries Utilities Inc.
<S> <C> <C> <C> <C> <C> <C>
Revenues:
Electric 560,471,120 0 0 560,471,120 560,471,120
Gas 137,292,527 0 0 137,292,527 137,292,527
Steam 11,855,093 0 0 11,855,093 11,855,093
Other 0 207,746 0 207,746 207,746
Total revenues 709,618,740 207,746 0 709,826,486 0 709,826,486
Operating expenses:
Fuel for production 96,255,834 0 0 96,255,834 96,255,834
Purchased power 66,874,146 0 0 66,874,146 66,874,146
Gas purchased for resale 91,197,916 0 0 91,197,916 91,197,916
Other operating expenses 145,094,982 124,462 30,236 145,249,680 145,249,680
Maintenance 43,510,392 75,995 0 43,586,387 43,586,387
Depreciation and amortization 79,377,780 6,425 0 79,384,205 79,384,205
Property taxes 39,963,804 864 0 39,964,668 39,964,668
Miscellaneous taxes 5,048,568 0 0 5,048,568 5,048,568
Total operating expenses 567,323,422 207,746 30,236 567,561,404 0 567,561,404
Operating income 142,295,318 0 -30,236 142,265,082 0 142,265,082
Other income and deductions:
AFUDC - equity -386,116 0 0 -386,116 -386,116
Income from subsidiaries 87,247 0 117,298 204,545 -84,249 120,296
Miscellaneous (net) 734,914 0 0 734,914 0 734,914
Total 436,045 0 117,298 553,343 -84,249 469,094
Interest expense and other:
Long-term debt 36,375,418 0 0 36,375,418 36,375,418
Other 8,084,954 0 4,701 8,089,655 -4,701 8,084,954
Preferred dividends of sub. 0 0 0 0 0 0
AFUDC - debt -3,037,874 0 0 -3,037,874 -3,037,874
Total 41,422,498 0 4,701 41,427,199 -4,701 41,422,498
Income before income taxes 100,436,775 0 -152,235 100,284,540 88,950 100,373,490
Federal and state income tax:
Current 36,243,422 0 -63,285 36,180,137 -2,713,275 33,466,862
Deferred 9,936,779 0 0 9,936,779 376,770 10,313,549
Amortization of inv. tax. cr. -2,685,481 0 0 -2,685,481 -2,685,481
Total 43,494,720 0 -63,285 43,431,435 -2,336,505 41,094,930
Net Income 56,942,055 0 -88,950 56,853,105 2,425,455 59,278,560
Preferred dividend requirement 914,372 914,372 914,372
Net Income for common stock 56,027,683 0 -88,950 55,938,733 2,425,455 58,364,188
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Balance Sheet PAGE 1 OF 6
As of December 31, 1995
<CAPTION>
IES IES IES Terra IES
Transport. Investments Energy Comfort Diversified Subtotal
<S> <C> <C> <C> <C> <C> <C>
Assets -
Other property 51,569,043 37,163,228 152,381,887 0 255,716 241,369,874
Less - accum. depreciation -10,626,480 -5,121,275 -35,967,382 0 -145,118 -51,860,255
Net other property 40,942,563 32,041,953 116,414,505 0 110,598 189,509,619
Investments:
Consolidated subsidiaries 0 0 0 207,097,165 207,097,165
Equity investments 168,175 37,223,908 0 0 0 37,392,083
Decommissioning trust funds 0 0 0 0 0
Other 0 0 0 0 -1,544,393 -1,544,393
Total Investments 168,175 37,223,908 0 0 205,552,772 242,944,855
Current assets:
Cash 596,385 436,221 726,890 0 145,101 1,904,597
Temp. cash invest - affiliates 0 0 0 0 -4,600,741 -4,600,741
Temp. cash investments 0 1,275,000 34,854 0 0 1,309,854
Acct. rec. - customers, net 3,407,172 136,990 15,051,680 0 0 18,595,842
Acct. rec. - other 0 257,838 1,170,558 0 10,000 1,438,396
Acct. rec. - intercompany 965,148 762,986 81,958 0 1,920,108 3,730,200
Income tax refunds receivable 0 0 6,092 0 0 6,092
Materials and supplies 1,064,220 61,164 0 0 0 1,125,384
Prepayments and other 66,067 2,132,201 11,559,648 0 425,654 14,183,570
Total current assets 6,098,992 5,062,400 28,631,680 0 -2,099,878 37,693,194
Other assets:
Advances payable to parent 0 0 0 0 -256,180 -256,180
Deferred charges -9,142 173,112 0 0 92,740 256,710
Regulatory assets 0 0 0 0 0 0
Other 0 4,877,996 362,064 0 5,500,000 10,740,060
Total other assets -9,142 5,051,108 362,064 0 5,336,560 10,740,590
Total assets 47,200,588 79,379,369 145,408,249 0 208,900,052 480,888,258
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Balance Sheet PAGE 2 OF 6
As of December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Diversified
Assets -
Other property 241,369,874 -1,661,788 239,708,086
Less - accum. depreciation -51,860,255 -51,860,255
Net other property 189,509,619 -1,661,788 187,847,831
Investments:
Consolidated subsidiaries 207,097,165 -207,097,091 74
Equity investments 37,392,083 37,392,083
Decommissioning trust funds 0 0
Other -1,544,393 1,544,393 0
Total Investments 242,944,855 -205,552,698 37,392,157
Current assets:
Cash 1,904,597 1,904,597
Temp. cash invest - affiliates -4,600,741 -4,600,741
Temp. cash investments 1,309,854 1,309,854
Acct. rec. - customers, net 18,595,842 18,595,842
Acct. rec. - other 1,438,396 1,438,396
Acct. rec. - intercompany 3,730,200 -176,210 3,553,990
Income tax refunds receivable 6,092 6,092
Materials and supplies 1,125,384 1,125,384
Prepayments and other 14,183,570 14,183,570
Total current assets 37,693,194 -176,210 37,516,984
Other assets:
Advances payable to parent -256,180 256,180 0
Deferred charges 256,710 256,710
Regulatory assets 0 0
Other 10,740,060 -5,500,000 5,240,060
Total other assets 10,740,590 -5,243,820 5,496,770
Total assets 480,888,258 -212,634,516 268,253,742
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Balance Sheet PAGE 3 OF 6
As of December 31, 1995
<CAPTION>
IES IES IES Terra IES
Transport. Investments Energy Comfort Diversified Subtotal
<S> <C> <C> <C> <C> <C> <C>
Capitalization and Liabilities -
Capitalization:
Common stock 25,070,719 61,967,940 114,485,614 0 113,872,941 315,397,214
Paid-in surplus 0 0 0 0 0 0
Retained earnings 4,295,234 -1,171,844 2,449,428 0 -30,622,465 -25,049,647
Total common equity 29,365,953 60,796,096 116,935,042 0 83,250,476 290,347,567
Long-term debt 5,500,000 12,000,256 0 0 124,245,000 141,745,256
Total Capitalization 34,865,953 72,796,352 116,935,042 0 207,495,476 432,092,823
Current liabilities:
Long-term debt maturities 0 307,000 0 0 0 307,000
Accounts payable - trade 2,220,575 227,469 17,205,401 0 122,370 19,775,815
Accounts pay. - intercompany 377,880 479,504 1,546,883 0 1,954,258 4,358,525
Dividends pay. - intercompany 0 0 0 0 0 0
Accrued interest 0 13,424 0 0 0 13,424
Accrued other taxes 1,083,289 623,145 588,305 0 0 2,294,739
Accrued income taxes 0 0 0 0 0 0
Other 1,934,119 268,419 1,120,338 0 164,349 3,487,225
Total current liabilities 5,615,863 1,918,961 20,460,927 0 2,240,977 30,236,728
Long-term liabilities:
Advance from parent -249,447 -6,733 0 0 0 -256,180
Environmental liabilities 100,000 360,000 1,722,000 0 0 2,182,000
Other 2,508,946 3,440,381 40,731 0 97,041 6,087,099
Total long-term liabilities 2,359,499 3,793,648 1,762,731 0 97,041 8,012,919
Deferred Credits:
Accum. deferred income taxes 4,359,275 870,406 6,249,550 0 -933,443 10,545,788
Accum. deferred inv. tax cr. 0 0 0 0 0 0
Total deferred credits 4,359,275 870,406 6,249,550 0 -933,443 10,545,788
Total cap. and liabilities 47,200,590 79,379,367 145,408,250 0 208,900,051 480,888,258
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Balance Sheet PAGE 4 OF 6
As of December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Diversified
Capitalization and Liabilities -
Capitalization:
Common stock 315,397,214 -201,524,273 113,872,941
Paid-in surplus 0 0
Retained earnings -25,049,647 -5,690,213 -30,739,860
Total common equity 290,347,567 -207,214,486 83,133,081
Long-term debt 141,745,256 -5,500,000 136,245,256
Total Capitalization 432,092,823 -212,714,486 219,378,337
Current liabilities:
Long-term debt maturities 307,000 307,000
Accounts payable - trade 19,775,815 19,775,815
Accounts pay. - intercompany 4,358,525 -176,210 4,182,315
Dividends pay. - intercompany 0 0
Accrued interest 13,424 13,424
Accrued other taxes 2,294,739 2,294,739
Accrued income taxes 0 0
Other 3,487,225 3,487,225
Total current liabilities 30,236,728 -176,210 30,060,518
Long-term liabilities:
Advance from parent -256,180 256,180 0
Environmental liabilities 2,182,000 2,182,000
Other 6,087,099 6,087,099
Total long-term liabilities 8,012,919 256,180 8,269,099
Deferred Credits:
Accum. deferred income taxes 10,545,788 10,545,788
Accum. deferred inv. tax cr. 0 0
Total deferred credits 10,545,788 0 10,545,788
Total cap. and liabilities 480,888,258 -212,634,516 268,253,742
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Statement of Income PAGE 5 OF 6
For the Year Ended December 31, 1995
<CAPTION>
IES IES IES Terra IES
Transport. Investments Energy Comfort Diversified Subtotal
<S> <C> <C> <C> <C> <C> <C>
Revenues:
Gas 0 0 53,046,710 0 0 53,046,710
Steam 0 0 3,928,901 0 0 3,928,901
Other 23,646,936 11,191,648 51,233,794 0 0 86,072,378
Total revenues 23,646,936 11,191,648 108,209,405 0 0 143,047,989
Operating expenses:
Gas purchased for resale 0 0 50,518,681 0 0 50,518,681
Other operating expenses 11,561,958 9,458,069 31,177,253 0 6,168,724 58,366,004
Maintenance 1,520,740 802,106 183,779 0 0 2,506,625
Depreciation and amortization 1,645,527 1,469,660 15,407,851 0 50,483 18,573,521
Property taxes 1,038,154 572,642 140,750 0 0 1,751,546
Miscellaneous taxes 857,670 22,153 1,366,300 0 0 2,246,123
Total operating expenses 16,624,049 12,324,630 98,794,614 0 6,219,207 133,962,500
Operating income 7,022,887 -1,132,982 9,414,791 0 -6,219,207 9,085,489
Other income and deductions:
Income from subsidiaries -65,978 0 0 0 -11,134,466 -11,200,444
Other -127,833 -3,748,272 -226,100 0 -1,586,244 -5,688,449
Total -193,811 -3,748,272 -226,100 0 -12,720,710 -16,888,893
Interest expense 576,384 1,448,573 486,859 0 5,808,683 8,320,499
Income before income taxes 6,640,314 1,166,717 9,154,032 0 692,820 17,653,883
Federal and state income taxes:
Current 2,398,140 667,791 1,906,042 0 -4,110,062 861,911
Deferred 347,888 -289,369 796,106 0 -233,874 620,751
Amortization of inv. tax. cr. 0 0 0 0 0 0
Total income taxes 2,746,028 378,422 2,702,148 0 -4,343,936 1,482,662
Net Income 3,894,286 788,295 6,451,884 0 5,036,756 16,171,221
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Diversified Inc. EXHIBIT A (ii)
Consolidated Statement of Income PAGE 6 OF 6
For the Year Ended December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Diversified
Revenues:
Gas 53,046,710 53,046,710
Steam 3,928,901 3,928,901
Other 86,072,378 86,072,378
Total revenues 143,047,989 0 143,047,989
Operating expenses:
Gas purchased for resale 50,518,681 50,518,681
Other operating expenses 58,366,004 58,366,004
Maintenance 2,506,625 2,506,625
Depreciation and amortization 18,573,521 18,573,521
Property taxes 1,751,546 1,751,546
Miscellaneous taxes 2,246,123 2,246,123
Total operating expenses 133,962,500 0 133,962,500
Operating income 9,085,489 0 9,085,489
Other income and deductions:
Income from subsidiaries -11,200,444 11,134,466 -65,978
Other -5,688,449 1,915,125 -3,773,324
Total -16,888,893 13,049,591 -3,839,302
Interest expense 8,320,499 -1,893,133 6,427,366
Income before income taxes 17,653,883 -11,156,458 6,497,425
Federal and state income taxes:
Current 861,911 861,911
Deferred 620,751 620,751
Amortization of inv. tax. cr. 0 0
Total income taxes 1,482,662 0 1,482,662
Net Income 16,171,221 -11,156,458 5,014,763
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Balance Sheet PAGE 1 OF 6
As of December 31, 1995
<CAPTION>
IES Railcar IEI Barge Transfer IES
CRANDIC Services Services Services Transport. Subtotal
<S> <C> <C> <C> <C> <C> <C>
Assets -
Other property 39,990,547 0 10,506,075 876,010 0 51,372,632
Less - accum. depreciation -7,478,009 0 -3,074,452 -74,019 0 -10,626,480
Net other property 32,512,538 0 7,431,623 801,991 0 40,746,152
Investments:
Consolidated subsidiaries 0 0 0 0 29,300,386 29,300,386
Equity investments 0 0 0 0 168,175 168,175
Decommissioning trust funds 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total Investments 0 0 0 0 29,468,561 29,468,561
Current assets:
Cash 1,300 0 595,085 0 0 596,385
Temp. cash invest - affiliates 0 0 0 0 0 0
Temp. cash investments 0 0 0 0 0 0
Acct. rec. - customers, net 3,257,987 0 125,566 23,619 0 3,407,172
Acct. rec. - other 0 0 0 0 0 0
Acct. rec. - intercompany 958,224 0 0 6,968 20,915 986,107
Materials and supplies 1,048,615 0 0 0 15,605 1,064,220
Prepayments and other 41,001 0 24,794 272 0 66,067
Total current assets 5,307,127 0 745,445 30,859 36,520 6,119,951
Other assets:
Deferred charges -9,142 0 0 0 0 -9,142
Regulatory assets 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total other assets -9,142 0 0 0 0 -9,142
Total assets 37,810,523 0 8,177,068 832,850 29,505,081 76,325,522
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Balance Sheet PAGE 2 OF 6
As of December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Transport
Assets -
Other property 51,372,632 196,411 51,569,043
Less - accum. depreciation -10,626,480 -10,626,480
Net other property 40,746,152 196,411 40,942,563
Investments:
Consolidated subsidiaries 29,300,386 -29,300,386 0
Equity investments 168,175 0 168,175
Decommissioning trust funds 0 0
Other 0 0
Total Investments 29,468,561 -29,300,386 168,175
Current assets:
Cash 596,385 596,385
Temp. cash invest - affiliates 0 0
Temp. cash investments 0 0
Acct. rec. - customers, net 3,407,172 3,407,172
Acct. rec. - other 0 0
Acct. rec. - intercompany 986,107 -20,959 965,148
Materials and supplies 1,064,220 1,064,220
Prepayments and other 66,067 66,067
Total current assets 6,119,951 -20,959 6,098,992
Other assets:
Deferred charges -9,142 -9,142
Regulatory assets 0 0
Other 0 0
Total other assets -9,142 0 -9,142
Total assets 76,325,522 -29,124,934 47,200,588
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Balance Sheet PAGE 3 OF 6
As of December 31, 1995
<CAPTION>
IES Railcar IEI Barge Transfer IES
CRANDIC Services Services Services Transport. Subtotal
<S> <C> <C> <C> <C> <C> <C>
Capitalization and Liabilities -
Capitalization:
Common stock 6,383,024 0 2,466,800 899,905 25,070,719 34,820,448
Paid-in surplus 0 0 0 0 0 0
Retained earnings 20,176,977 0 -86,544 -145,886 4,295,234 24,239,781
Total common equity 26,560,001 0 2,380,256 754,019 29,365,953 59,060,229
Long-term debt 0 0 5,500,000 0 0 5,500,000
Total Capitalization 26,560,001 0 7,880,256 754,019 29,365,953 64,560,229
Current liabilities:
Long-term debt maturities 0 0 0 0 0 0
Accounts payable - trade 2,139,402 0 71,887 9,286 0 2,220,575
Accounts pay. - intercompany 211,239 0 4,392 9,306 173,902 398,839
Accrued interest 0 0 0 0 0 0
Accrued other taxes 969,110 0 79,980 33,980 219 1,083,289
Accrued income taxes 0 0 0 0 0 0
Other 1,538,512 0 390,000 5,607 0 1,934,119
Total current liabilities 4,858,263 0 546,259 58,179 174,121 5,636,822
Long-term liabilities:
Advance from parent 0 0 -249,447 0 0 -249,447
Environmental liabilities 100,000 0 0 0 0 100,000
Other 1,918,643 0 0 0 0 1,918,643
Total long-term liabilities 2,018,643 0 -249,447 0 0 1,769,196
Deferred Credits:
Accum. deferred income taxes 4,373,616 0 0 20,652 -34,993 4,359,275
Accum. deferred inv. tax cr. 0 0 0 0 0 0
Total deferred credits 4,373,616 0 0 20,652 -34,993 4,359,275
Total cap. and liabilities 37,810,523 0 8,177,068 832,850 29,505,081 76,325,522
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Balance Sheet PAGE 4 OF 6
As of December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Transport
Capitalization and Liabilities -
Capitalization:
Common stock 34,820,448 -9,749,729 25,070,719
Paid-in surplus 0 0
Retained earnings 24,239,781 -19,944,547 4,295,234
Total common equity 59,060,229 -29,694,276 29,365,953
Long-term debt 5,500,000 5,500,000
Total Capitalization 64,560,229 -29,694,276 34,865,953
Current liabilities:
Long-term debt maturities 0 0
Accounts payable - trade 2,220,575 2,220,575
Accounts pay. - intercompany 398,839 -20,959 377,880
Accrued interest 0 0
Accrued other taxes 1,083,289 1,083,289
Accrued income taxes 0 0
Other 1,934,119 1,934,119
Total current liabilities 5,636,822 -20,959 5,615,863
Long-term liabilities:
Advance from parent -249,447 -249,447
Environmental liabilities 100,000 100,000
Other 1,918,643 590,303 2,508,946
Total long-term liabilities 1,769,196 590,303 2,359,499
Deferred Credits:
Accum. deferred income taxes 4,359,275 4,359,275
Accum. deferred inv. tax cr. 0 0
Total deferred credits 4,359,275 0 4,359,275
Total cap. and liabilities 76,325,522 -29,124,932 47,200,590
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Statement of Income PAGE 5 OF 6
For the Year Ended December 31, 1995
<CAPTION>
IES Railcar IEI Barge Transfer IES
CRANDIC Services Services Services Transport. Subtotal
<S> <C> <C> <C> <C> <C> <C>
Revenues:
Gas 0 0 0 0 0 0
Steam 0 0 0 0 0 0
Other 16,786,176 4,689,919 2,013,891 156,950 0 23,646,936
Total revenues 16,786,176 4,689,919 2,013,891 156,950 0 23,646,936
Operating expenses:
Gas purchased for resale 0 0 0 0 0 0
Other operating expenses 5,875,942 4,767,843 792,663 125,355 155 11,561,958
Maintenance 1,194,040 224,789 93,274 8,637 0 1,520,740
Depreciation and amortization 930,906 289,501 377,709 47,411 0 1,645,527
Property taxes 810,554 120,000 74,000 33,600 0 1,038,154
Miscellaneous taxes 640,196 177,368 40,106 0 0 857,670
Total operating expenses 9,451,638 5,579,501 1,377,752 215,003 155 16,624,049
Operating income 7,334,538 -889,582 636,139 -58,053 -155 7,022,887
Other income and deductions:
Income from subsidiaries 0 0 0 0 -4,012,335 -4,012,335
Other -203,283 -24,686 -46,459 -2,091 107,958 -168,561
Total -203,283 -24,686 -46,459 -2,091 -3,904,377 -4,180,896
Interest expense 24,238 33,227 518,372 0 547 576,384
Income before income taxes 7,513,583 -898,123 164,226 -55,962 3,903,675 10,627,399
Federal and state income taxes:
Current 2,621,642 -334,375 0 -37,197 148,070 2,398,140
Deferred 511,834 -39,277 0 13,963 -138,632 347,888
Amortization of inv. tax. cr. 0 0 0 0 0 0
Total income taxes 3,133,476 -373,652 0 -23,234 9,438 2,746,028
Net Income 4,380,107 -524,471 164,226 -32,728 3,894,237 7,881,371
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Transportation Inc. EXHIBIT A (iii)
Consolidated Statement of Income PAGE 6 OF 6
For the Year Ended December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Transport
Revenues:
Gas 0 0
Steam 0 0
Other 23,646,936 23,646,936
Total revenues 23,646,936 0 23,646,936
Operating expenses:
Gas purchased for resale 0 0
Other operating expenses 11,561,958 11,561,958
Maintenance 1,520,740 1,520,740
Depreciation and amortization 1,645,527 1,645,527
Property taxes 1,038,154 1,038,154
Miscellaneous taxes 857,670 857,670
Total operating expenses 16,624,049 0 16,624,049
Operating income 7,022,887 0 7,022,887
Other income and deductions:
Income from subsidiaries -4,012,335 3,946,357 -65,978
Other -168,561 40,728 -127,833
Total -4,180,896 3,987,085 -193,811
Interest expense 576,384 576,384
Income before income taxes 10,627,399 -3,987,085 6,640,314
Federal and state income taxes:
Current 2,398,140 2,398,140
Deferred 347,888 347,888
Amortization of inv. tax. cr. 0 0
Total income taxes 2,746,028 0 2,746,028
Net Income 7,881,371 -3,987,085 3,894,286
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 1 OF 9
As of December 31, 1995
<CAPTION>
2001 2060 Center Prairie
Iowa Land SIMCO Develop. Develop. Place Ridge
<S> <C> <C> <C> <C> <C> <C>
Assets -
Other property 7,676,026 0 1,696,102 15,658,809 1,686,305 1,050,000
Less - accum. depreciation -573,281 0 -26,160 -2,196,458 -483,534 0
Net other property 7,102,745 0 1,669,942 13,462,351 1,202,771 1,050,000
Investments:
Consolidated subsidiaries 0 0 2,275,473 0 0 0
Equity investments 0 0 94,080 0 0 0
Decommissioning trust funds 0 0 0 0 0 0
Other 0 0 0 0 0 0
Total Investments 0 0 2,369,553 0 0 0
Current assets:
Cash 21,861 0 154,625 78,349 57,447 0
Temp. cash invest - affiliates 0 0 0 0 0 0
Temp. cash investments 0 0 1,275,000 0 0 0
Acct. rec. - customers, net 91,715 0 304 8,396 0 0
Acct. rec. - other 0 0 0 0 0 0
Acct. rec. - intercompany 561,788 0 1,179,743 0 0 0
Materials and supplies 0 0 0 0 0 0
Prepayments and other 581,757 0 8,898 96,574 14,006 0
Total current assets 1,257,121 0 2,618,570 183,319 71,453 0
Other assets:
Deferred charges 0 0 0 173,112 0 0
Regulatory assets 0 0 0 0 0 0
Other 0 0 0 0 14,091 0
Total other assets 0 0 0 173,112 14,091 0
Total assets 8,359,866 0 6,658,065 13,818,782 1,288,315 1,050,000
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 2 OF 9
As of December 31, 1995
<CAPTION>
IES Village Village 2002 IES
Investco Resorts Lakeshares Develop. Investments
<S> <C> <C> <C> <C> <C>
Assets -
Other property 0 0 8,312,273 2,095,012 -300,781
Less - accum. depreciation 0 0 -1,672,720 -169,122 0
Net other property 0 0 6,639,553 1,925,890 -300,781
Investments:
Consolidated subsidiaries 0 0 0 0 24,870,504
Equity investments 2,313,191 0 0 0 34,816,637
Decommissioning trust funds 0 0 0 0 0
Other 0 0 0 0 0
Total Investments 2,313,191 0 0 0 59,687,141
Current assets:
Cash 0 0 30,521 93,418 0
Temp. cash invest - affiliates 0 0 0 0 0
Temp. cash investments 0 0 0 0 0
Acct. rec. - customers, net 0 0 25,020 11,555 0
Acct. rec. - other 66,000 0 191,838 0 0
Acct. rec. - intercompany 0 0 1,959 0 1,342,175
Materials and supplies 0 0 61,164 0 0
Prepayments and other 0 0 1,359,215 4,420 67,331
Total current assets 66,000 0 1,669,717 109,393 1,409,506
Other assets:
Deferred charges 0 0 0 0 0
Regulatory assets 0 0 0 0 0
Other 0 0 3,940,237 0 923,668
Total other assets 0 0 3,940,237 0 923,668
Total assets 2,379,191 0 12,249,507 2,035,283 61,719,534
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 3 OF 9
As of December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Investments
Assets -
Other property 37,873,746 -710,518 37,163,228
Less - accum. depreciation -5,121,275 -5,121,275
Net other property 32,752,471 -710,518 32,041,953
Investments:
Consolidated subsidiaries 27,145,977 -27,145,977 0
Equity investments 37,223,908 37,223,908
Decommissioning trust funds 0 0
Other 0 0
Total Investments 64,369,885 -27,145,977 37,223,908
Current assets:
Cash 436,221 436,221
Temp. cash invest - affiliates 0 0
Temp. cash investments 1,275,000 1,275,000
Acct. rec. - customers, net 136,990 136,990
Acct. rec. - other 257,838 257,838
Acct. rec. - intercompany 3,085,665 -2,322,679 762,986
Materials and supplies 61,164 61,164
Prepayments and other 2,132,201 2,132,201
Total current assets 7,385,079 -2,322,679 5,062,400
Other assets:
Deferred charges 173,112 173,112
Regulatory assets 0 0
Other 4,877,996 4,877,996
Total other assets 5,051,108 0 5,051,108
Total assets 109,558,543 -30,179,174 79,379,369
NOTE: Numbers may not foot due to rounding.
NOTE: IES Investments has included in "Equity
investments" several investments in foreign entities,
including equity ownerships in two New Zealand electric
distribution entities, a loan to a New Zealand company
and an investment in an international venture capital
fund. These investments are considered energy-related
and therefore may be included with IES Energy Inc. for
management purposes.
<TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 4 OF 9
As of December 31, 1995
<CAPTION>
2001 2060 Center Prairie
Iowa Land SIMCO Develop. Develop. Place Ridge
<S> <C> <C> <C> <C> <C> <C>
Capitalization and Liabilities -
Capitalization:
Common stock 200,000 0 8,250,000 4,956,972 1,205,891 1,060,000
Paid-in surplus 6,632,803 0 0 0 0 0
Retained earnings 396,562 0 -1,624,605 -2,913,654 -1,047,070 -3,477
Total common equity 7,229,365 0 6,625,395 2,043,318 158,821 1,056,523
Long-term debt 0 0 0 9,666,768 1,048,727 0
Total Capitalization 7,229,365 0 6,625,395 11,710,086 1,207,548 1,056,523
Current liabilities:
Long-term debt maturities 0 0 0 0 0 0
Accounts payable - trade 31,373 0 6,130 22,730 25,255 0
Accounts pay. - intercompany 117,273 0 0 1,863,301 0 211
Accrued interest 0 0 0 8,256 936 0
Accrued other taxes 103,150 0 26,540 200,915 46,325 0
Accrued income taxes 0 0 0 0 0 0
Other 20,000 0 0 0 8,250 0
Total current liabilities 271,796 0 32,670 2,095,202 80,766 211
Long-term liabilities:
Advance from parent 0 0 0 0 0 -6,733
Environmental liabilities 360,000 0 0 0 0 0
Other 122,479 0 0 13,494 0 0
Total long-term liabilities 482,479 0 0 13,494 0 -6,733
Deferred Credits:
Accum. deferred income taxes 376,226 0 0 0 0 0
Accum. deferred inv. tax cr. 0 0 0 0 0 0
Total deferred credits 376,226 0 0 0 0 0
Total cap. and liabilities 8,359,866 0 6,658,065 13,818,782 1,288,314 1,050,001
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 5 OF 9
As of December 31, 1995
<CAPTION>
IES Village Village 2002 IES
Investco Resorts Lakeshares Develop. Investments
<S> <C> <C> <C> <C> <C>
Capitalization and Liabilities -
Capitalization:
Common stock 1,000 0 14,225,952 9,807 61,967,940
Paid-in surplus 983,094 0 0 0 0
Retained earnings 996,268 0 -2,827,159 -51,999 -735,637
Total common equity 1,980,362 0 11,398,793 -42,192 61,232,303
Long-term debt 0 0 7,433 1,584,328 0
Total Capitalization 1,980,362 0 11,406,226 1,542,136 61,232,303
Current liabilities:
Long-term debt maturities 0 0 0 0 0
Accounts payable - trade 0 0 123,629 15,499 2,853
Accounts pay. - intercompany 363,979 0 0 457,419 0
Accrued interest 0 0 0 4,232 0
Accrued other taxes 0 0 230,218 15,997 0
Accrued income taxes 0 0 0 0 0
Other 0 0 239,663 0 506
Total current liabilities 363,979 0 593,510 493,147 3,359
Long-term liabilities:
Advance from parent 0 0 0 0 0
Environmental liabilities 0 0 0 0 0
Other 0 0 0 0 0
Total long-term liabilities 0 0 0 0 0
Deferred Credits:
Accum. deferred income taxes 34,850 0 249,769 0 483,872
Accum. deferred inv. tax cr. 0 0 0 0 0
Total deferred credits 34,850 0 249,769 0 483,872
Total cap. and liabilities 2,379,191 0 12,249,505 2,035,283 61,719,534
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Balance Sheet PAGE 6 OF 9
As of December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Investments
Capitalization and Liabilities -
Capitalization:
Common stock 91,877,562 -29,909,622 61,967,940
Paid-in surplus 7,615,897 -7,615,897 0
Retained earnings -7,810,771 6,638,927 -1,171,844
Total common equity 91,682,688 -30,886,592 60,796,096
Long-term debt 12,307,256 -307,000 12,000,256
Total Capitalization 103,989,944 -31,193,592 72,796,352
Current liabilities:
Long-term debt maturities 0 307,000 307,000
Accounts payable - trade 227,469 227,469
Accounts pay. - intercompany 2,802,183 -2,322,679 479,504
Accrued interest 13,424 13,424
Accrued other taxes 623,145 623,145
Accrued income taxes 0 0
Other 268,419 268,419
Total current liabilities 3,934,640 -2,015,679 1,918,961
Long-term liabilities:
Advance from parent -6,733 -6,733
Environmental liabilities 360,000 360,000
Other 135,973 3,304,408 3,440,381
Total long-term liabilities 489,240 3,304,408 3,793,648
Deferred Credits:
Accum. deferred income taxes 1,144,717 -274,311 870,406
Accum. deferred inv. tax cr. 0 0
Total deferred credits 1,144,717 -274,311 870,406
Total cap. and liabilities 109,558,541 -30,179,174 79,379,367
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Statement of Income PAGE 7 OF 9
For the Year Ended December 31, 1995
<CAPTION>
2001 2060 Center Prairie
Iowa Land SIMCO Develop. Develop. Place Ridge
<S> <C> <C> <C> <C> <C> <C>
Revenues:
Gas 0 0 0 0 0 0
Steam 0 0 0 0 0 0
Other 2,361,609 614,916 7,725 2,782,400 298,034 0
Total revenues 2,361,609 614,916 7,725 2,782,400 298,034 0
Operating expenses:
Gas purchased for resale 0 0 0 0 0 0
Other operating expenses 1,830,162 460,020 152,914 690,331 89,127 3,551
Maintenance 232,092 2,639 99 302,716 36,575 0
Depreciation and amortization 126,824 6,536 7,548 600,482 67,096 0
Property taxes 132,000 4,942 27,641 234,344 52,800 0
Miscellaneous taxes 0 22,153 0 0 0 0
Total operating expenses 2,321,078 496,290 188,202 1,827,873 245,598 3,551
Operating income 40,531 118,626 -180,477 954,527 52,436 -3,551
Other income and deductions:
Income from subsidiaries 0 0 0 0 0 0
Other -689,983 -1,056 -578,070 441,372 -2,374 -80
Total -689,983 -1,056 -578,070 441,372 -2,374 -80
Interest expense 35,024 0 0 863,404 87,382 7
Income before income taxes 695,490 119,682 397,593 -350,249 -32,572 -3,478
Federal and state income taxes:
Current -518,988 41,889 0 0 0 0
Deferred 812,567 0 0 0 0 0
Amortization of inv. tax. cr. 0 0 0 0 0 0
Total income taxes 293,579 41,889 0 0 0 0
Net Income 401,911 77,793 397,593 -350,249 -32,572 -3,478
NOTE: Numbers may not foot due to rounding.
</TABLE>
<TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Statement of Income PAGE 8 OF 9
For the Year Ended December 31, 1995
<CAPTION>
IES Village Village 2002 IES
Investco Resorts Lakeshares Develop. Investments
<S> <C> <C> <C> <C> <C>
Revenues:
Gas 0 0 0 0 0
Steam 0 0 0 0 0
Other 0 0 4,695,980 430,984 0
Total revenues 0 0 4,695,980 430,984 0
Operating expenses:
Gas purchased for resale 0 0 0 0 0
Other operating expenses 36,633 0 6,043,847 149,733 1,751
Maintenance 0 0 154,128 73,857 0
Depreciation and amortization 0 0 568,584 92,590 0
Property taxes 0 0 127,348 -6,433 0
Miscellaneous taxes 0 0 0 0 0
Total operating expenses 36,633 0 6,893,907 309,747 1,751
Operating income -36,633 0 -2,197,927 121,237 -1,751
Other income and deductions:
Income from subsidiaries 0 0 0 0 -109,599
Other -2,296,315 49,795 -608,581 18,000 -619,380
Total -2,296,315 49,795 -608,581 18,000 -728,979
Interest expense 0 8,726 55,456 166,031 334,242
Income before income taxes 2,259,682 -58,521 -1,644,802 -62,794 392,986
Federal and state income taxes:
Current 1,364,521 -24,326 0 0 -195,305
Deferred -440,025 0 0 0 -387,600
Amortization of inv. tax. cr. 0 0 0 0 0
Total income taxes 924,496 -24,326 0 0 -582,905
Net Income 1,335,186 -34,195 -1,644,802 -62,794 975,891
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Investments Inc. EXHIBIT A (iv)
Consolidated Statement of Income PAGE 9 OF 9
For the Year Ended December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Investments
Revenues:
Gas 0 0
Steam 0 0
Other 11,191,648 11,191,648
Total revenues 11,191,648 0 11,191,648
Operating expenses:
Gas purchased for resale 0 0
Other operating expenses 9,458,069 9,458,069
Maintenance 802,106 802,106
Depreciation and amortization 1,469,660 1,469,660
Property taxes 572,642 572,642
Miscellaneous taxes 22,153 22,153
Total operating expenses 12,324,630 0 12,324,630
Operating income -1,132,982 0 -1,132,982
Other income and deductions:
Income from subsidiaries -109,599 109,599 0
Other -4,286,672 538,400 -3,748,272
Total -4,396,271 647,999 -3,748,272
Interest expense 1,550,272 -101,699 1,448,573
Income before income taxes 1,713,017 -546,300 1,166,717
Federal and state income taxes:
Current 667,791 667,791
Deferred -15,058 -274,311 -289,369
Amortization of inv. tax. cr. 0 0
Total income taxes 652,733 -274,311 378,422
Net Income 1,060,284 -271,989 788,295
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Balance Sheet PAGE 1 OF 6
As of December 31, 1995
<CAPTION>
IES
IEA Whiting Ely Energy Subtotal
<S> <C> <C> <C> <C> <C>
Assets -
Other property 24,007,607 128,374,280 0 0 152,381,887
Less - accum. depreciation -2,929,779 -33,037,603 0 0 -35,967,382
Net other property 21,077,828 95,336,677 0 0 116,414,505
Investments:
Consolidated subsidiaries 0 0 0 116,040,474 116,040,474
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 0 116,040,474 116,040,474
Current assets:
Cash 300 593,458 133,132 0 726,890
Temp. cash invest - affiliates 0 0 0 0 0
Temp. cash investments 0 34,854 0 0 34,854
Acct. rec. - customers, net 7,760,038 7,291,642 0 0 15,051,680
Acct. rec. - other 0 1,170,558 0 0 1,170,558
Acct. rec. - intercompany 126,989 534,485 0 0 661,474
Income tax refunds receivable 0 6,092 0 0 6,092
Materials and supplies 0 0 0 0 0
Prepayments and other 121,670 11,437,978 0 0 11,559,648
Total current assets 8,008,997 21,069,067 133,132 0 29,211,196
Other assets:
Deferred charges 0 0 0 0 0
Regulatory assets 0 0 0 0 0
Other 37,300 324,764 0 0 362,064
Total other assets 37,300 324,764 0 0 362,064
Total assets 29,124,125 116,730,508 133,132 116,040,474 262,028,239
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Balance Sheet PAGE 2 OF 6
As of December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Energy
Assets -
Other property 152,381,887 152,381,887
Less - accum. depreciation -35,967,382 -35,967,382
Net other property 116,414,505 0 116,414,505
Investments:
Consolidated subsidiaries 116,040,474 -116,040,474 0
Equity investments 0 0
Decommissioning trust funds 0 0
Other 0 0
Total Investments 116,040,474 -116,040,474 0
Current assets:
Cash 726,890 726,890
Temp. cash invest - affiliates 0 0
Temp. cash investments 34,854 34,854
Acct. rec. - customers, net 15,051,680 15,051,680
Acct. rec. - other 1,170,558 1,170,558
Acct. rec. - intercompany 661,474 -579,516 81,958
Income tax refunds receivable 6,092 6,092
Materials and supplies 0 0
Prepayments and other 11,559,648 11,559,648
Total current assets 29,211,196 -579,516 28,631,680
Other assets:
Deferred charges 0 0
Regulatory assets 0 0
Other 362,064 362,064
Total other assets 362,064 0 362,064
Total assets 262,028,239 -116,619,990 145,408,249
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Balance Sheet PAGE 3 OF 6
As of December 31, 1995
<CAPTION>
IES
IEA Whiting Ely Energy Subtotal
<S> <C> <C> <C> <C> <C>
Capitalization and Liabilities -
Capitalization:
Common stock 15,345,826 95,854,667 133,132 114,485,614 225,819,239
Paid-in surplus 0 0 0 0 0
Retained earnings 3,909,235 838,345 0 2,449,428 7,197,008
Total common equity 19,255,061 96,693,012 133,132 116,935,042 233,016,247
Long-term debt 0 0 0 0 0
Total Capitalization 19,255,061 96,693,012 133,132 116,935,042 233,016,247
Current liabilities:
Long-term debt maturities 0 0 0 0 0
Accounts payable - trade 7,733,932 9,471,469 0 0 17,205,401
Accounts pay. - intercompany 685,883 1,440,516 0 0 2,126,399
Accrued interest 0 0 0 0 0
Accrued other taxes 146,132 442,173 0 0 588,305
Accrued income taxes 0 0 0 0 0
Other 39,000 1,081,338 0 0 1,120,338
Total current liabilities 8,604,947 12,435,496 0 0 21,040,443
Long-term liabilities:
Advance from parent 0 0 0 0 0
Environmental liabilities 0 1,722,000 0 0 1,722,000
Other 0 0 0 0 0
Total long-term liabilities 0 1,722,000 0 0 1,722,000
Deferred Credits:
Accum. deferred income taxes 1,264,117 5,880,000 0 -894,567 6,249,550
Accum. deferred inv. tax cr. 0 0 0 0 0
Total deferred credits 1,264,117 5,880,000 0 -894,567 6,249,550
Total cap. and liabilities 29,124,125 116,730,508 133,132 116,040,475 262,028,240
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Balance Sheet PAGE 4 OF 6
As of December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Energy
Capitalization and Liabilities -
Capitalization:
Common stock 225,819,239 -111,333,625 114,485,614
Paid-in surplus 0 0
Retained earnings 7,197,008 -4,747,580 2,449,428
Total common equity 233,016,247 -116,081,205 116,935,042
Long-term debt 0 0
Total Capitalization 233,016,247 -116,081,205 116,935,042
Current liabilities:
Long-term debt maturities 0 0
Accounts payable - trade 17,205,401 17,205,401
Accounts pay. - intercompany 2,126,399 -579,516 1,546,883
Accrued interest 0 0
Accrued other taxes 588,305 588,305
Accrued income taxes 0 0
Other 1,120,338 1,120,338
Total current liabilities 21,040,443 -579,516 20,460,927
Long-term liabilities:
Advance from parent 0 0
Environmental liabilities 1,722,000 1,722,000
Other 0 40,731 40,731
Total long-term liabilities 1,722,000 40,731 1,762,731
Deferred Credits:
Accum. deferred income taxes 6,249,550 6,249,550
Accum. deferred inv. tax cr. 0 0
Total deferred credits 6,249,550 0 6,249,550
Total cap. and liabilities 262,028,240 -116,619,990 145,408,250
NOTE: Numbers may not foot due to rounding.
<TABLE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Statement of Income PAGE 5 OF 6
For the Year Ended December 31, 1995
<CAPTION>
IES
IEA Whiting Ely Energy Subtotal
<S> <C> <C> <C> <C> <C>
Revenues:
Gas 53,046,710 0 0 0 53,046,710
Steam 3,928,901 0 0 0 3,928,901
Other 3,095,250 48,423,103 0 0 51,518,353
Total revenues 60,070,861 48,423,103 0 0 108,493,964
Operating expenses:
Gas purchased for resale 50,803,240 0 0 0 50,803,240
Other operating expenses 6,299,749 24,877,504 0 0 31,177,253
Maintenance 183,779 0 0 0 183,779
Depreciation and amortization 756,268 14,651,583 0 0 15,407,851
Property taxes 140,750 0 0 0 140,750
Miscellaneous taxes 0 1,366,300 0 0 1,366,300
Total operating expenses 58,183,786 40,895,387 0 0 99,079,173
Operating income 1,887,075 7,527,716 0 0 9,414,791
Other income and deductions:
Income from subsidiaries 0 0 0 -6,445,033 -6,445,033
Other -116,625 -125,948 23,736 0 -218,837
Total -116,625 -125,948 23,736 -6,445,033 -6,663,870
Interest expense 4,152 482,707 0 0 486,859
Income before income taxes 1,999,548 7,170,957 -23,736 6,445,033 15,591,802
Federal and state income taxes:
Current 471,041 1,435,001 0 0 1,906,042
Deferred 345,954 457,001 0 -6,849 796,106
Amortization of inv. tax. cr. 0 0 0 0 0
Total income taxes 816,995 1,892,002 0 -6,849 2,702,148
Net Income 1,182,553 5,278,955 -23,736 6,451,882 12,889,654
NOTE: Numbers may not foot due to rounding.
</TABLE>
IES Energy Inc. EXHIBIT A (v)
Consolidated Statement of Income PAGE 6 OF 6
For the Year Ended December 31, 1995
Consol.
Eliminat. IES
Subtotal Entries Energy
Revenues:
Gas 53,046,710 53,046,710
Steam 3,928,901 3,928,901
Other 51,518,353 -284,559 51,233,794
Total revenues 108,493,964 -284,559 108,209,405
Operating expenses:
Gas purchased for resale 50,803,240 -284,559 50,518,681
Other operating expenses 31,177,253 31,177,253
Maintenance 183,779 183,779
Depreciation and amortization 15,407,851 15,407,851
Property taxes 140,750 140,750
Miscellaneous taxes 1,366,300 1,366,300
Total operating expenses 99,079,173 -284,559 98,794,614
Operating income 9,414,791 0 9,414,791
Other income and deductions:
Income from subsidiaries -6,445,033 6,445,033 0
Other -218,837 -7,263 -226,100
Total -6,663,870 6,437,770 -226,100
Interest expense 486,859 486,859
Income before income taxes 15,591,802 -6,437,770 9,154,032
Federal and state income taxes:
Current 1,906,042 1,906,042
Deferred 796,106 796,106
Amortization of inv. tax. cr. 0 0
Total income taxes 2,702,148 0 2,702,148
Net Income 12,889,654 -6,437,770 6,451,884
NOTE: Numbers may not foot due to rounding.
