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Previous: LASERGATE SYSTEMS INC, SC 14F1, 1999-08-26 |
Next: FRANKLIN NEW YORK TAX FREE TRUST, N-30D, 1999-08-26 |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
- --------------------------------------------------------------------------------
In the matter of
CSW, Energy Inc REPORT FOR PERIOD
CSW, International Inc. April 1, 1999 to
Dallas, Texas 75202 June 30, 1999
File No. 070-9091 PURSUANT TO RULE 24
This report is filed under Rule 24 of the Public Utility Holding Company Act of
1935 by CSW Energy, Inc. ("CSW Energy"), and CSW International, Inc. ("CSW
International"). The two companies are wholly owned subsidiaries of Central and
South West Corporation.
Under HCAR 35-26887, CSW Energy and CSW International 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 fo CSW Energy and CSW International
for the twelve months ended as of the relevant quarter end. Refer to
Exhibits C and D, respectively.
(3) Name, owner, and location of each qualifying facility, independent power
facility and foreign utility company served by CSW Energy and CSW
International or subsidiaries thereof as specified in HCAR 35-26887.
None.
(4) The amount of compensation received from each qualifying facility,
independent power facility and foreign utility company. None.
(5) Information on intercompany service transactions as specified in HCAR
35-26887 between 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 Energy and CSW International have duly caused this
report to be signed on their behalf on this 25th day of August, 1999.
CSW Energy, Inc.
CSW International, Inc.
/s/ Sandra S. Bennett
Sandra S. Bennett
Controller
Exhibit A
CSW Energy, Inc.
Balance Sheet
June 30, 1999
(Unaudited)
($000's)
Assets
Current Assets
Cash and cash equivalents $25,491
Accounts receivable 17,671
Prepaid expenses 1,738
--------
Total current assets 44,900
Investments In and Advances to Energy Projects 113,530
Notes Receivable - Affiliate 34,263
Notes Receivable 66,647
Other Assets
Construction in progress and project development costs 148,762
Property, Plant, and Equipment, net 184,283
Other 15,875
--------
Total other assets 348,920
--------
Total assets $608,260
========
Liabilities and Shareholder's Equity
Current Liabilities
Accounts payable $10,732
Accrued liabilities and other 10,684
--------
Total current liabilities 21,416
Long Term Debt 348,907
Deferred Income Taxes 36,105
Other 72,097
--------
Total liabilities 478,525
Minority Interest 12,979
Shareholder's Equity
Common stock 1
Additional paid-in-capital 108,139
Accumulated retained earnings 8,616
--------
Total shareholder's equity 116,756
--------
Total liabilities and shareholder's equity $608,260
========
Exhibit B
CSW International, Inc.
Consolidated Balance Sheet
June 30, 1999
(Unaudited)
($000's)
ASSETS
Fixed Assets
Electric distribution plant $ 1,445,282
General plant 281,698
------------
Total Electric Plant 1,726,980
Less - Accumulated depreciation (642,698)
------------
Total Fixed Assets 1,084,282
Current Assets
Cash and cash equivalents 72,456
Short-term investments 31,391
Accounts receivable 275,593
Advances to affiliates 185
Inventories 78,990
Other current assets 6,527
------------
Total Current Assets 465,142
Other Assets
Goodwill 1,314,904
Prepaid benefit costs 56,801
Equity investments and other 207,108
------------
Total Other Assets 1,578,813
Total Assets $ 3,128,237
============
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock $ 1
Paid-in capital 829,000
Retained earnings 201,794
Minority interests 920
Foreign currency translation and other (54,577)
------------
977,138
Long-term debt 1,118,430
Current Liabilities
Accounts payable 199,188
Advances from affiliates 198,469
Accrued interest payable 40,484
Loan notes 28,516
Accrued taxes payable 95,694
Customer prepayments 34,303
Other 31,995
------------
628,649
Deferred Credits
Deferred tax liability 277,640
Other 126,380
------------
Total Deferred Credits 404,020
============
Total Capitalization and Liabilities $ 3,128,237
============
Exhibit C
CSW Energy, Inc.
Statements of Income
For the Twelve Months Ended June 30, 1999
(Unaudited)
($000's)
OPERATING REVENUE:
Electric revenues $77,732
Thermal revenues 41,806
Equity in Income from energy projects 12,664
Operating and mantenance contract services 7,454
Construction contract revenue 16,721
Other 627
---------
Total operating revenue 157,004
OPERATING EXPENSES:
Fuel 68,417
Operating, maintnance and supplies 18,591
Depreciation and amortization 9,557
Salaries, wages and benefits 10,129
Construction contract expenses 12,344
General and administrative 7,631
Operating and maintenance contract services 4,761
---------
Total operating expenses 131,430
INCOME FROM OPERATIONS 25,574
OTHER INCOME (EXPENSE)
Interest income 26,554
Interest expense (35,822)
Other, net (315)
---------
Total other (expense) (9,583)
INCOME BEFORE INCOME TAXES 15,991
PROVISION FOR INCOME TAXES 6,295
---------
Net income before change in accounting principle 9,696
EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE 5,203
---------
Net income $ 4,493
=========
Exhibit D
CSW International, Inc.
Consolidated Statement of Income
For the Twelve Months Ended June 30, 1999
(Unaudited)
($000's)
Operating Revenues
Electric revenues $ 1,510,653
Other diversified 165,941
------------
1,676,594
Operating Expenses
Cost of electric sales 994,016
General and administrative 288,735
Depreciation and amortization 103,285
Other diversified 91,996
------------
1,478,032
------------
Operating Income 198,562
Other Income and (Deductions)
Investment income 16,775
Interest income 25,881
Interest expense (127,186)
------------
(84,530)
------------
Income Before Income Taxes 114,032
Provision for Income Taxes 5,690
------------
Net Income $ 108,342
============
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