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Previous: CSW ENERGY INC, 35-CERT, 1998-11-25 |
Next: HERITAGE INCOME GROWTH TRUST, NSAR-B, 1998-11-25 |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
- ----------------------------------------------
In the matter of
Central and South West Corporation REPORT FOR PERIOD
CSW International, Inc. July 1, 1998 to
CSW Energy, Inc. September 30, 1998
Dallas, Texas 75266 PURSUANT TO RULE 24
File No. 070-9091
This report is filed under Rule 24 of the Public Utility Holding
Company Act of 1935 by Central and South West Corporation ("CSW"), CSW
International, Inc. ("CSW International"), and CSW Energy, Inc. (CSW Energy.)
The latter two companies are wholly owned subsidiaries of CSW.
Under HCAR 35-26887, CSW and its above-named subsidiaries are authorized to
enter into agreements to provide energy-related services to certain associate
companies at fair market prices.
Attached is the information required pursuant to HCAR 35-26887.
(1) Consolidated Balance Sheets for CSW Energy and CSW International as of
the relevant quarter end. Refer to exhibits A and B respectively.
(2) Consolidated Statements of Income for CSW Energy and CSW International
for the Twelve Months preceding the relevant quarter end. Refer to
Exhibits C and D respectively.
(3) Name, owner, and location of each Exempt Project and QF served by CSW
Energy and CSW International or subsidiaries thereof. None.
(4) The amount of compensation received for each QF or Exempt Project.
None.
(5) Information on intercompany service transactions with CSW Energy, CSW
International and their respective subsidiaries. None.
<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. and CSW Energy, Inc have duly
caused this report to be signed on its behalf on this 12th day of November 1998.
CSW International, Inc.
CSW Energy, Inc.
/s/ Sandra S. Bennett
Sandra S. Bennett
Controller
CSW Energy, Inc.
Balance Sheet
September 30, 1998
(Unaudited)
($000's)
Assets
Current Assets
Cash and cash equivalents $ 25,175
Accounts receivable 9,048
Prepaid expenses 252
--------
Total current assets 34,475
Investments In and Advances to Energy Projects 113,062
Notes Receivable - Affiliate 140,753
Notes Receivable 66,315
Other Assets
Construction in progress and project development costs 53,769
Property, Plant, and Equipment, net 196,129
Other - net 7,056
--------
Total other assets 256,954
Total assets $611,559
========
Liabilities and Shareholder's Equity
Current Liabilities
Accounts payable $ 17,253
Accrued liabilities and other 13,025
--------
Total current liabilities 30,278
Long Term Debt 348,876
Deferred Income Taxes 46,936
Other 56,567
--------
Total liabilities 482,657
Minority Interest 16,667
Shareholder's Equity
Common stock 1
Additional paid-in-capital 108,139
Accumulated retained earnings 4,095
--------
Total shareholder's equity 112,235
Total liabilities, shareholder's equity
and minority interest $611,559
========
CSW International, Inc.
Consolidated Balance Sheet Exhibit B
September 30, 1998
(Unaudited)
($000's)
ASSETS
Fixed Assets
Electric distribution plant $ 1,483,835
General plant 276,160
-----------
Total Electric Plant 1,759,995
Less - Accumulated depreciation (665,908)
-----------
Total Fixed Assets 1,094,087
Current Assets
Cash and cash equivalents 139,401
Short-term investments 31,997
Accounts receivable 331,782
Advances to affiliates 304
Inventories 43,221
Other current assets 15,830
-----------
Total Current Assets 562,535
Other Assets
Goodwill 1,444,837
Prepaid benefit costs 61,153
Equity investments and other 172,461
-----------
Total Other Assets 1,678,451
Total Assets $ 3,335,073
===========
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock $ 1
Paid-in capital 829,000
Retained earnings 123,380
Minority Interest 155
Foreign currency translation and other 21,281
-----------
973,817
Long-term debt 1,176,019
Current Liabilities
Accounts payable 247,958
Advances from affiliates 300,025
Accrued interest payable 43,930
Loan notes 43,786
Accrued taxes payable 142,616
Customer prepayments 30,432
Other 13,439
-----------
822,186
Deferred Credits
Deferred tax liability 267,095
Other 95,956
-----------
Total Deferred Credits 363,051
Total Capitalization and Liabilities $ 3,335,073
===========
CSW Energy, Inc.
Consolidated Statement of Income
For the Twelve Months ended September 30, 1998 Exhibit C
(Unaudited)
($000's)
OPERATING REVENUE
Equity in income from energy projects $ 14,038
Elecricity and Thermal Revenues 80,741
Operation and maintenance services 5,623
Other 4,375
---------
Total operating Revenue 104,777
OPERATING EXPENSES
Salaries, wages, and benefits 6,669
Fuel expense 51,099
Operation and maintenance services 20,255
General and administrative 12,046
---------
Total operating expenses 90,069
---------
Income from Operations 14,708
OTHER INCOME (EXPENSE)
Interest income 32,225
Interest expense (39,368)
Other, net 201
---------
Total other income (expense) (6,942)
---------
INCOME BEFORE INCOME TAXES 7,766
PROVISION FOR INCOME TAXES 3,015
---------
Net income (loss) $ 4,751
=========
CSW International, Inc.
Consolidated Statement of Income
For the Twelve Months Ended September 30, 1998 Exhbit D
(Unaudited)
($000's)
Operating Revenues
Electric revenues $ 1,635,117
Other diversified 206,716
----------------
1,841,833
----------------
Operating Expenses
Cost of electric sales 1,104,212
General and administrative 240,581
Depreciation and amortization 91,682
Other diversified 139,441
----------------
1,575,916
Operating Income 265,917
----------------
Other Income and (Deductions)
Investment income 10,745
Interest income 15,222
Interest expense (136,256)
----------------
(110,289)
----------------
Income Before Income Taxes 155,628
Provision for Income Taxes 26,249
----------------
Net Income $ 129,379
================
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