UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
- ----------------------------------------------
In the matter of
CSW International, Inc. REPORT FOR PERIOD
Dallas, Texas 75266-0789 April 1, 1996 to
June 30, 1996
File No. 070-8423 PURSUANT TO RULE 24
This report is filed under Rule 24 of the Public Utility Holding Company
Act of 1935 by CSW International, Inc. ("CSW International"), a wholly owned
subsidiary of Central and South West Corporation ("CSW"). Under HCAR 35-26383,
CSW International is authorized to participate in foreign utility companies and
exempt wholesale generators and to provide consulting services with respect to
the same. Attached is the information required pursuant to HCAR 35-26383.
(1) Information on each investment made by CSWI, directly or indirectly, in any
other project parent, indicating the amount and type of such investment and
identifying the facility with respect to which such project parent was
organized. See Exhibit A.
(2) Information about the amount, type, and terms of securities (including
interest rate, maturity, and the basis for inflation adjustment in the case
of non-recoursindebtedness denominated in any currency other than U.S.
dollars) issued by any project parent to a third person. See Exhibit B.
(3) A balance sheet as of the relevant report date. See Exhibit C.
(4) An income statement for the quarter ended. See Exhibit D.
(5) Information on intercompany transactions with CSW International related to
CSW International's consulting services, including (a) the name of each
associate company providing services, (b) a listing of services provided,
(c) the total dollar amount of services provided, broken down by associate
company, and (d) the aggregate outstanding amount, as of the relevant
quarterly reporting date, of all guarantees issued by or for the account of
CSW, CSWI, or any project parent pursuant to this application declaration.
See Exhibit E.
<PAGE>
S I G N A T U R E
As requested by order of this Commission pursuant to the Public Utility
Holding Company Act of 1935, CSW International, Inc. has duly caused this report
to be signed on its behalf on this 26th day of August, 1996.
CSW International, Inc.
/s/ EDDIE PEEBLES
Eddie Peebles
Controller
<TABLE>
CSW International, Inc.
Investments in Project Parents
June 30, 1996
(thousands)
<CAPTION>
Project Wholly Owned
Facility Parent Subsidiary Of Description Investment
- ------------ -------------------------- ----------------------------- -------------------------- --------------
<S> <C> <C> <C> <C>
SEEBOARD plc CSW International, Inc. Central and South West Corp. Additional Paid-in-Capital $ 829,000
SEEBOARD plc CSW International Two, Inc. CSW International, Inc. Additional Paid-in-Capital 829,000
SEEBOARD plc CSW International Three, Inc. CSW International, Inc. Not Applicable 0
SEEBOARD plc CSW UK Investments CSW International Two, Inc. AdditionallPaid-in-Capital 829,000
and CSW International
Three, Inc.
SEEBOARD plc CSW (UK) plc CSW UK Investments Additional Paid-in-Capital 829,000
</TABLE>
CSW International, Inc.
Non-recourse Indebtedness
June 30, 1996
(thousands)
Inflation
Type Term Rate Maturity Adjustment Amount
- ---------------- ---------- --------- ---------- ------------- --------------
Credit Facility 30 days 6.4465% 07/03/96 None Pounds 10,000
Credit Facility 31 days 6.2165% 07/29/96 None Pounds 803,627
Loan Notes NA 5.10% 10/2/02 None Pounds 62,084
CSW International, Inc.
Balance Sheet
June 30, 1996
(Unaudited)
($000's)
6/30/96
--------------
ASSETS
CURRENT ASSETS
Cash $ 317,729
Marketable Securities 11,994
Accounts Receivable 269,242
Other Current Assets 20,696
--------------
619,661
NONCURRENT ASSETS
Equity Investments 22,829
Fixed Assets, net 948,678
Goodwill 1,373,470
Deferred Charges and Other 69,774
--------------
2,414,751
TOTAL $ 3,034,412
==============
LIABILITIES AND EQUITY
LIABILITIES
Accounts Payable and Other $ 381,728
Borrowings from CSW Corp. 37,401
Long Term Debt 1,417,084
Other Liabilities 76,482
Accumulated Deferred Income Taxes 257,552
--------------
2,170,247
EQUITY
Common Stock 1
Paid in Capital 829,000
Retained Earnings 43,785
Currency Translation Adjustment (8,621)
--------------
864,165
TOTAL $ 3,034,412
==============
CSW International, Inc.
Statement of Income
For the Quarter Ended June 30, 1996
(Unaudited)
($000's)
6/30/96
-----------
Income:
Sales $ 394,215
Interest Income 4,295
Other Income (86)
-----------
Total Income 398,424
Expenses:
Cost of Goods Sold 286,990
Other Expenses 25,241
Depreciation and Amortization 21,427
Interest Expense 30,837
-----------
Total Expenses 364,495
Net Income Before Tax 33,929
Provision for Income Taxes 14,750
-----------
Net Income $ 19,179
===========
CSW International, Inc.
Intercompany Service Transactions
For the Quarter Ended June 30, 1996
(Unaudited)
Name Type of Service Amount
- ---------------------------- ---------------------------------- ------------
Transok, Inc. * Salaries, overheads, and travel $ 46,733
(Wholly owned subsidiary of in support of CSW International, Inc.
Central and South West projects.
Corporation)
CSW Energy, Inc. Salaries and overheads $ 344,932
(Wholly owned subsidiary of in support of CSW International, Inc.
Central and South West projects.
Corporation)
Central and South West Salaries, overheads, and travel $1,288,813
Services, Inc. (Wholly owned in support of CSW International, Inc.
Subsidiary of Central and projects.
South West Corporation)
Guarantees issued by or for the account of CSW, CSWI, or any
project parent. None
*Transok was sold to Tejas Gas Corporation on June 6, 1996
