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<PAGE>
FORM U-A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FILE NO. 69-14
AMENDMENT NO. 1
on Form U-3A-2
Amendment to Statement by Holding Company Claiming Exemption
under the Public Utility Holding Company Act of 1935
PUBLIC SERVICE COMPANY OF COLORADO
(Name of company or companies filing amendment)
Name, title, and address of officer to whom notices and correspondence
concerning this amendment should be addressed:
Debra L. Sago, Assistant Treasurer
PUBLIC SERVICE COMPANY OF COLORADO
1225 17th Street, Suite 600
Denver, Colorado 80202
The undersigned hereby amends the above document as indicated in the
attached pages with respect to the following (identify item, statement,
schedule, or exhibit of document to which amendment relates):
Exhibit A of Form U-3A-2
__________________________________
SIGNATURE
The company has caused this amendment to be duly signed on its behalf by
its authorized officer in the city of Denver and State of Colorado, on the 29th
day of March, 1995.
Attest: (SEAL) PUBLIC SERVICE COMPANY OF COLORADO
\s\ Carol J. Peterson By \s\ Debra L. Sago
------------------------------- ------------------------------------
Assistant Secretary Assistant Treasurer
Debra L. Sago
----------------------
<PAGE>
EXHIBIT A
A CONSOLIDATING STATEMENT OF INCOME AND RETAINED EARNINGS AND CASH FLOWS
OF THE CLAIMANT AND ITS SUBSIDIARY COMPANIES: CHEYENNE LIGHT, FUEL AND POWER
COMPANY; WESTGAS GATHERING, INC.; WESTGAS INTERSTATE, INC.; WESTGAS
TRANSCOLORADO, INC.; FUEL RESOURCES DEVELOPMENT CO.; 1480 WELTON, INC.; GREEN
AND CLEAR LAKES COMPANY; PSR INVESTMENTS, INC.; PS COLORADO CREDIT CORPORATION;
NATURAL FUELS CORPORATION; AND CONSOLIDATED FOR THE YEAR ENDED DECEMBER 31,
1994, TOGETHER WITH A CONSOLIDATING BALANCE SHEET OF CLAIMANT AND SUCH
SUBSIDIARY COMPANIES CONSOLIDATED AS OF THE CLOSE OF THE CALENDAR YEAR 1994.
East Boulder Ditch Company; Hillcrest Ditch and Reservoir Company; United
Water Company; Fisher Ditch Water Company; Baugh Lateral Ditch Company; Beeman
Irrigating Ditch and Milling Company; Consolidated Extension Canal Company;
Enterprise Ditch Company; Jones and Donnelly Ditch Company; and Las Animas
Consolidated Canal Company are excluded from the consolidated statements of
claimant. These excluded companies are not significant, considered either
separately or in the aggregate (1) in relation to the claimant or to the
claimant and its subsidiary companies consolidated in respect of the amount at
which investments in and advances to such companies are carried or (2) in
relation to the claimant and its subsidiary companies consolidated in respect of
sales or operating revenues of such companies. e prime, inc., the Company's
wholly-owned subsidiary, was incorporated on January 30, 1995.
The following information is submitted in reference to five of the
foregoing excluded companies which, through either direct or indirect stock
holdings, meet the generally accepted accounting definition of a subsidiary
(ownership of a majority of the outstanding voting stock over 50 percent):
East Boulder Ditch Company, Hillcrest Ditch and Reservoir Company, United
Water Company, Consolidated Extension Canal Company, and Las Animas
Consolidated Canal Company are mutual ditch companies operated not for
profit, and assessments are being levied on the members to cover operating
costs. The aggregate investment therein is carried at $5.
* * * * * *
Neither the filing of this statement nor anything therein contained shall
constitute or be deemed to be evidence of a waiver by the Company or any
director, officer, or employee of the Company or any person certifying to said
statement or to anything contained therein, of any constitutional or legal right
to contest the validity or scope of any or all of the provisions of the Public
Utility Holding Company Act of 1935 or of any rule or regulation made or to be
made thereunder, all such rights being hereby expressly reserved.
<PAGE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET WITH CONSOLIDATING INFORMATION - DECEMBER 31, 1994
<TABLE>
<CAPTION>
----------------------------------------------------------
Public
Service
Company of
ASSETS Consolidated Eliminations Total Colorado
----------------------------- ------------------ --------------- ----------------- -----------------
<S> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT, at cost:
Electric $ 3,641,710,728 $ - $ 3,641,710,728 $ 3,597,227,581
Gas 867,238,633 - 867,238,633 813,941,798
Steam and other 86,458,431 7,711 (1) 86,450,720 84,829,116
Common to all departments 369,070,239 - 369,070,239 310,107,415
Construction in progress 187,576,808 - 187,576,808 183,950,118
----------------- --------------- ----------------- -----------------
5,152,054,839 7,711 5,152,047,128 4,990,056,028
Less: accumulated depreciation 1,860,653,218 - 1,860,653,218 1,818,236,596
----------------- --------------- ----------------- -----------------
Total property, plant and equipment 3,291,401,621 7,711 3,291,393,910 3,171,819,432
----------------- --------------- ----------------- -----------------
INVESTMENTS:
Subsidiaries consolidated - common stock - (53,828,610)(1) 53,828,610 53,828,610
Note receivable from associated company - (12,066,207)(2) 12,066,207 -
Other, at cost 18,202,292 (4,387,254)(2) 22,589,546 11,834,402
----------------- --------------- ----------------- -----------------
18,202,292 (70,282,071) 88,484,363 65,663,012
----------------- --------------- ----------------- -----------------
CURRENT ASSETS:
Cash and temporary cash investments 5,883,212 - 5,883,212 1,346,245
Accounts receivable 166,638,234 - 166,638,234 4,315,032
Reserve for uncollectible accounts (3,172,972) - (3,172,972) (2,820,078)
Accounts receivable from associated companies - (10,048,038)(2) 10,048,038 1,406,677
Accrued unbilled revenues 86,106,304 - 86,106,304 84,955,536
Recoverable purchased gas and electric
energy costs - net 37,979,051 - 37,979,051 35,336,918
Fuel inventory, at average cost 31,369,671 - 31,369,671 31,369,671
Fuel inventory financed - (31,369,669)(2) 31,369,669 -
Materials and supplies, at average cost 67,600,139 - 67,600,139 66,058,022
Gas in underground storage, at cost (LIFO) 42,354,794 - 42,354,794 41,684,628
Current portion of accumulated deferred
income taxes 20,708,600 - 20,708,600 21,184,228
Regulatory assets recoverable within one year 39,984,977 - 39,984,977 39,938,743
Prepaid expenses and other 16,312,056 - 16,312,056 14,967,845
----------------- --------------- ----------------- -----------------
Total current assets 511,764,066 (41,417,707) 553,181,773 339,743,467
----------------- --------------- ----------------- -----------------
DEFERRED CHARGES:
Regulatory assets 335,892,187 - 335,892,187 335,767,042
Unamortized debt expense 11,073,462 - 11,073,462 9,760,796
Prepaid pension 1,031,159 - 1,031,159 544,253
Other 38,467,323 - 38,467,323 38,183,184
----------------- --------------- ----------------- -----------------
Total deferred charges 386,464,131 - 386,464,131 384,255,275
----------------- --------------- ----------------- -----------------
$ 4,207,832,110 $ (111,692,067) $ 4,319,524,177 $ 3,961,481,186
================= =============== ================= =================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CONSOLIDATING INFORMATION
---------------------------------------------------------------------------------
Cheyenne Fuel
Light, Fuel WestGas WestGas Resources
and Power InterState, TransColorado, Development
ASSETS Company Inc. Inc. Co.
----------------------------- -------------- ------------ ------------- --------------
<S> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT, at cost:
Electric $ 44,458,147 $ - $ - $ -
Gas 22,506,689 651,867 - 27,743,407
Steam and other 11,716 - - -
Common to all departments 3,887,673 - - -
Construction in progress 3,596,548 - - -
-------------- ------------ ------------- --------------
74,460,773 651,867 - 27,743,407
Less: accumulated depreciation 24,914,579 63,968 - 3,811,212
-------------- ------------ ------------- --------------
Total property, plant and equipment 49,546,194 587,899 - 23,932,195
-------------- ------------ ------------- --------------
INVESTMENTS:
Subsidiaries consolidated - common stock - - - -
Note receivable from associated company - - - -
Other, at cost 10,800 - 3,602,265 4,422,648
-------------- ------------ ------------- --------------
10,800 - 3,602,265 4,422,648
-------------- ------------ ------------- --------------
CURRENT ASSETS:
Cash and temporary cash investments 1,143,434 49,851 - (200)
Accounts receivable 3,183,870 5,581 4,844 2,243,598
Reserve for uncollectible accounts (34,616) - - (318,278)
Accounts receivable from associated companies - 20,196 - 3,752,666
Accrued unbilled revenues 1,150,768 - - -
Recoverable purchased gas and electric
energy costs - net 2,642,133 - - -
Fuel inventory, at average cost - - - -
Fuel inventory financed - - - -
Materials and supplies, at average cost 404,997 - - 35,960
Gas in underground storage, at cost (LIFO) 670,166 - - -
Current portion of accumulated deferred
income taxes (555,952) - - 62,390
Regulatory assets recoverable within one year 46,234 - - -
Prepaid expenses and other 144,921 652 - (10,023)
-------------- ------------ ------------- --------------
Total current assets 8,795,955 76,280 4,844 5,766,113
-------------- ------------ ------------- --------------
DEFERRED CHARGES:
Regulatory assets 124,746 399 - -
Unamortized debt expense 462,573 - - -
Prepaid pension 275,016 - - 211,890
Other 120,059 1,188 1,840 6,584
-------------- ------------ -------------- -------------
Total deferred charges 982,394 1,587 1,840 218,474
-------------- ------------ -------------- -------------
$ 59,335,343 $ 665,766 $ 3,608,949 $ 34,339,430
============== ============ ============== =============
<PAGE>
<CAPTION>
-------------------------------------
Green
1480 and
Welton, Clear Lakes
ASSETS Inc. Company
----------------------------- -------------- ------------
<S> <C> <C>
PROPERTY, PLANT AND EQUIPMENT, at cost:
Electric $ - $ 25,000
Gas - -
Steam and other 1,609,888 -
Common to all departments 55,075,151 -
Construction in progress 30,142 -
-------------- ------------
56,715,181 25,000
Less: accumulated depreciation 12,655,553 -
-------------- ------------
Total property, plant and equipment 44,059,628 25,000
-------------- ------------
INVESTMENTS:
Subsidiaries consolidated - common stock - -
Note receivable from associated company 12,066,207 -
Other, at cost - -
-------------- ------------
12,066,207 -
-------------- ------------
CURRENT ASSETS:
Cash and temporary cash investments 1,400,172 -
Accounts receivable 9,295 -
Reserve for uncollectible accounts - -
Accounts receivable from associated companies - -
Accrued unbilled revenues - -
Recoverable purchased gas and electric
energy costs - net - -
Fuel inventory, at average cost - -
Fuel inventory financed - -
Materials and supplies, at average cost - -
Gas in underground storage, at cost (LIFO) - -
Current portion of accumulated deferred
income taxes 5,253 -
Regulatory assets recoverable within one year - -
Prepaid expenses and other $ 38,119 -
-------------- ------------
Total current assets 1,452,839 -
-------------- ------------
DEFERRED CHARGES:
Regulatory assets - -
Unamortized debt expense 850,093 -
Prepaid pension - -
Other - -
-------------- ------------
Total deferred charges 850,093 -
-------------- ------------
$ 58,428,767 $ 25,000
============== ============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
-------------------------------------------------
PS
PSR Colorado Natural
Investments, Credit Fuels
ASSETS Inc. Corporation Corporation
----------------------------- ------------ -------------- ------------
<S> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT, at cost: $ - $ - $ -
Electric - - 2,394,872
Gas - - -
Steam and other - - -
Common to all departments - - -
------------ -------------- ------------
Construction in progress - - 2,394,872
Less: accumulated depreciation - - 971,310
------------ -------------- ------------
Total property, plant and equipment - - 1,423,562
------------ -------------- ------------
INVESTMENTS:
Subsidiaries consolidated - common stock - - -
Note receivable from associated company - - -
Other, at cost 1,876,608 - 842,823
------------ -------------- ------------
1,876,608 - 842,823
------------ -------------- ------------
CURRENT ASSETS:
Cash and temporary cash investments 14,523 15,839 1,913,348
Accounts receivable - 156,232,628 643,386
Reserve for uncollectible accounts - - -
Accounts receivable from associated companies 2,760,266 1,977,345 130,888
Accrued unbilled revenues - - -
Recoverable purchased gas and electric
energy costs - net - - -
Fuel inventory, at average cost - - -
Fuel inventory financed - 31,369,669 -
Materials and supplies, at average cost - - 1,101,160
Gas in underground storage, at cost (LIFO) - - -
Current portion of accumulated deferred
income taxes - - 12,681
Regulatory assets recoverable within one year - - -
Prepaid expenses and other 706,831 430,883 32,828
------------ -------------- ------------
Total current assets 3,481,620 190,026,364 3,834,291
------------ -------------- ------------
DEFERRED CHARGES:
Regulatory assets - - -
Unamortized debt expense - - -
Prepaid pension - - -
Other 20 - 154,448
------------ -------------- ------------
Total deferred charges 20 - 154,448
------------ -------------- ------------
$ 5,358,248 $ 190,026,364 $ 6,255,124
============ ============== ============
</TABLE>
<PAGE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET WITH CONSOLIDATING INFORMATION - DECEMBER 31, 1994
<TABLE>
<CAPTION>
--------------------------------------------------------
Public
Service
Company of
CAPITAL AND LIABILITIES Consolidated Eliminations Total Colorado
----------------------- ---------------- -------------- ---------------- -----------------
<S> <C> <C> <C> <C>
COMMON STOCK $ 959,268,632 $ - $ 959,268,632 $ 959,268,632
COMMON STOCK OF SUBSIDIARIES - 85,582,694 (1) 85,582,694 -
RETAINED EARNINGS (DEFICIT) 308,213,945 (30,620,404)(1) 277,593,541 308,213,945
---------------- -------------- ---------------- -----------------
Total common equity 1,267,482,577 54,962,290 1,322,444,867 1,267,482,577
PREFERRED STOCK:
Not subject to mandatory redemption 140,007,500 - 140,007,500 140,007,500
Subject to mandatory redemption at par 42,665,200 - 42,665,200 42,665,200
LONG-TERM DEBT 1,155,427,018 - 1,155,427,018 1,100,562,930
---------------- -------------- ---------------- -----------------
2,605,582,295 54,962,290 2,660,544,585 2,550,718,207
---------------- -------------- ---------------- -----------------
NONCURRENT LIABILITIES:
Defueling and decommissioning liability 40,605,267 - 40,605,267 40,605,267
Employees' postretirement benefits other than
pensions 42,105,368 - 42,105,368 41,888,072
Employees' postemployment benefits 20,975,000 - 20,975,000 20,412,000
Note payable to associated company - 12,066,207 (2) 12,066,207 12,066,207
Other - 4,387,254 (2) 4,387,254 4,387,254
---------------- -------------- ---------------- -----------------
Total noncurrent liabilities 103,685,635 16,453,461 120,139,096 119,358,800
---------------- -------------- ---------------- -----------------
CURRENT LIABILITIES:
Notes payable and commercial paper 324,800,000 - 324,800,000 115,500,000
Long-term debt due within one year 25,153,226 - 25,153,226 23,385,449
Preferred stock subject to mandatory
redemption within one year 2,576,000 - 2,576,000 2,576,000
Accounts payable 177,030,916 - 177,030,916 165,526,774
Accounts payable to associated companies - 41,417,707 (2) 41,417,707 39,992,818
Dividends payable 34,077,800 - 34,077,800 34,077,800
Customers' deposits 17,098,530 - 17,098,530 16,875,023
Accrued taxes 54,148,484 - 54,148,484 52,895,731
Accrued interest 32,264,811 - 32,264,811 31,209,500
Current defueling & decommissioning liability 36,364,659 - 36,364,659 36,364,659
Other 62,640,449 - 62,640,449 61,340,581
---------------- -------------- ---------------- -----------------
Total current liabilities 766,154,875 41,417,707 807,572,582 579,744,335
---------------- -------------- ---------------- -----------------
DEFERRED CREDITS:
Customers' advances for construction 96,442,081 - 96,442,081 95,794,790
Unamortized investment tax credits 118,531,688 - 118,531,688 115,909,987
Accumulated deferred income taxes 485,667,987 - 485,667,987 469,356,629
Other 31,767,549 (1,141,391)(1) 30,626,158 30,598,438
---------------- -------------- ---------------- -----------------
Total deferred credits 732,409,305 (1,141,391) 731,267,914 711,659,844
COMMITMENTS AND CONTINGENCIES
---------------- -------------- ---------------- -----------------
$ 4,207,832,110 $ 111,692,067 $ 4,319,524,177 $ 3,961,481,186
================ ============== ================ =================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CONSOLIDATING INFORMATION
-----------------------------------------------------------------------------------
Cheyenne Fuel Green
Light, Fuel WestGas WestGas Resources 1480 And
and Power InterState, TransColorado, Development Welton, Clear Lakes
CAPITAL AND LIABILITIES Company Inc. Inc. Co. Inc. Company
----------------------- ------------ ----------- ------------- -------------- ------------ ---------
<S> <C> <C> <C> <C> <C> <C>
COMMON STOCK $ - $ - $ - $ - $ - $ -
COMMON STOCK OF SUBSIDIARIES 3,000,000 600,000 3,400,000 32,050,000 7,506,189 25,000
RETAINED EARNINGS (DEFICIT) 13,813,998 15,657 (4,987) (40,670,660) 404,315 -
------------ ----------- ------------- -------------- ------------ ---------
Total common equity 16,813,998 615,657 3,395,013 (8,620,660) 7,910,504 25,000
PREFERRED STOCK:
Not subject to mandatory redemption - - - - - -
Subject to mandatory redemption at par - - - - - -
LONG-TERM DEBT 19,000,000 - - - 35,836,706 -
------------ ----------- ------------- -------------- ------------ ---------
35,813,998 615,657 3,395,013 (8,620,660) 43,747,210 25,000
------------ ----------- ------------- -------------- ------------ ---------
NONCURRENT LIABILITIES:
Defueling and decommissioning liability - - - - - -
Employees' postretirement benefits other than
pensions 31,637 - - 185,659 - -
Employees' postemployment benefits 563,000 - - - - -
Note payable to associated company - - - - - -
Other - - - - - -
------------ ----------- ------------- -------------- ------------ ---------
Total noncurrent liabilities 594,637 - - 185,659 - -
------------ ----------- ------------- -------------- ------------ ---------
CURRENT LIABILITIES:
Notes payable and commercial paper 9,400,000 - - 32,450,000 - -
Long-term debt due within one year - - - 12,894 1,726,646 -
Preferred stock subject to mandatory
redemption within one year - - - - - -
Accounts payable 4,103,654 - - 7,175,181 4,938 -
Accounts payable to associated companies 933,357 - 213,434 - 278,098 -
Dividends payable - - - - - -
Customers' deposits 223,507 - - - - -
Accrued taxes 422,379 10,412 502 537,599 165,649 -
Accrued interest 552,361 - - 91,613 411,337 -
Current defueling & decommissioning liability - - - - - -
Other 893,308 - - 109,970 20,848 -
------------ ----------- ------------- -------------- ------------ ---------
Total current liabilities 16,528,566 10,412 213,936 40,377,257 2,607,516 -
------------ ----------- ------------- -------------- ------------ ---------
DEFERRED CREDITS:
Customers' advances for construction 647,291 - - - - -
Unamortized investment tax credits 1,556,811 - - - 1,064,890 -
Accumulated deferred income taxes 4,178,640 39,697 - 2,397,174 11,009,152 -
Other 15,400 - - - (1) -
------------ ----------- ------------- -------------- ------------ ---------
Total deferred credits 6,398,142 39,697 - 2,397,174 12,074,041 -
COMMITMENTS AND CONTINGENCIES
------------ ----------- ------------- -------------- ------------ ---------
$ 59,335,343 $ 665,766 $ 3,608,949 $ 34,339,430 $ 58,428,767 $ 25,000
============ =========== ============= ============== ============ =========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
-----------------------------------------------------
PS
PSR Colorado Natural
Investments, Credit Fuels
CAPITAL AND LIABILITIES Inc. Corporation Corporation
----------------------- ---------------- ----------------- ----------------
<S> <C> <C> <C>
COMMON STOCK $ - $ - $ -
COMMON STOCK OF SUBSIDIARIES 3,631,900 22,512,276 12,857,329
RETAINED EARNINGS (DEFICIT) 2,971,645 - (7,150,372)
---------------- ----------------- ----------------
Total common equity 6,603,545 22,512,276 5,706,957
PREFERRED STOCK:
Not subject to mandatory redemption - - -
Subject to mandatory redemption at par - - -
LONG-TERM DEBT - - 27,382
---------------- ----------------- ----------------
6,603,545 22,512,276 5,734,339
---------------- ----------------- ----------------
NONCURRENT LIABILITIES:
Defueling and decommissioning liability - - -
Employees' postretirement benefits other than
pensions - - -
Employees' postemployment benefits - - -
Note payable to associated company - - -
Other - - -
---------------- ----------------- ----------------
Total noncurrent liabilities - - -
---------------- ----------------- ----------------
CURRENT LIABILITIES:
Notes payable and commercial paper - 167,450,000 -
Long-term debt due within one year - - 28,237
Preferred stock subject to mandatory
redemption within one year - - -
Accounts payable - - 220,369
Accounts payable to associated companies - - -
Dividends payable - - -
Customers' deposits - - -
Accrued taxes 64,421 51,791 -
Accrued interest - - -
Current defueling & decommissioning liability - - -
Other - - 275,742
---------------- ----------------- ----------------
Total current liabilities 64,421 167,501,791 524,348
---------------- ----------------- ----------------
DEFERRED CREDITS:
Customers' advances for construction - - -
Unamortized investment tax credits - - -
Accumulated deferred income taxes (1,309,718) (24) (3,563)
Other - 12,321 -
---------------- ----------------- ----------------
Total deferred credits (1,309,718) 12,297 (3,563)
COMMITMENTS AND CONTINGENCIES
---------------- ----------------- ----------------
$ 5,358,248 $ 190,026,364 $ 6,255,124
================ ================= ================
</TABLE>
<PAGE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
WITH CONSOLIDATING INFORMATION
YEAR ENDED DECEMBER 31, 1994
<TABLE>
<CAPTION>
-----------------------------------------------------------------
Public
Service
Company of
Consolidated Eliminations Total Colorado
------------------ ----------------- ------------------- --------------------
<S> <C> <C> <C> <C>
OPERATING REVENUES:
Electric $ 1,399,835,782 $ $ 1,399,835,782 $ 1,366,101,117
Gas 624,922,440 3,153,172 (3) 628,075,612 596,285,273
Other 32,626,213 20,620,967 (3) 53,247,180 7,421,767
------------------ ----------------- ------------------- --------------------
2,057,384,435 23,774,139 2,081,158,574 1,969,808,157
OPERATING EXPENSES:
Fuel used in generation 198,117,684 - 198,117,684 198,117,684
Purchased power 437,086,821 - 437,086,821 412,903,851
Gas purchased for resale 397,876,825 (195,678) (3) 398,072,503 384,569,491
Other operating expenses 369,094,370 (21,622,329) (3) 390,716,699 374,553,674
Maintenance 67,096,774 - 67,096,774 64,500,010
Defueling and decommissioning 43,376,059 - 43,376,059 43,376,059
Depreciation and amortization 139,034,945 - 139,034,945 133,550,073
Taxes (other than income taxes) 86,408,546 - 86,408,546 83,838,215
Income taxes 48,499,964 - 48,499,964 58,262,403
------------------ ----------------- ------------------- --------------------
1,786,591,988 (21,818,007) 1,808,409,995 1,753,671,460
------------------ ----------------- ------------------- --------------------
OPERATING INCOME (LOSS) 270,792,447 1,956,132 272,748,579 216,136,697
OTHER INCOME AND DEDUCTIONS:
Allowance for equity funds used during
construction 3,139,648 - 3,139,648 3,139,648
Equity in earnings of consolidated
subsidiaries - 10,245,071 (1) 10,245,071 10,245,071
Interest income from subsidiaries - 1,257,981 (4) 1,257,981 1,257,981
Miscellaneous income (deductions)- net 28,471,312 91,098 (1)(3) 28,562,410 29,240,899
------------------ ----------------- ------------------- --------------------
302,403,407 13,550,282 315,953,689 260,020,296
INTEREST CHARGES:
Interest on long-term debt 89,005,222 - 89,005,222 82,512,221
Amortization of debt discount and
expense less premium 3,126,219 - 3,126,219 3,048,455
Other interest 44,020,625 (3,473,701)(3)(4) 47,494,326 7,989,167
Allowance for borrowed funds used
during construction (4,017,978) - (4,017,978) (3,798,866)
------------------ ----------------- ------------------- --------------------
132,134,088 (3,473,701) 135,607,789 89,750,977
------------------ ----------------- ------------------- --------------------
NET INCOME (LOSS) 170,269,319 10,076,581 (b) 180,345,900 170,269,319
RETAINED EARNINGS (DEFICIT)
AT BEGINNING OF YEAR 273,335,417 (20,991,429) (b) 252,343,988 273,335,417
------------------ ----------------- ------------------- --------------------
443,604,736 (10,914,848) 432,689,888 443,604,736
DIVIDENDS ON PREFERRED STOCK (12,010,971) - (12,010,971) (12,010,971)
DIVIDENDS ON COMMON STOCK (123,379,820) (17,592,222) (b) (140,972,042) (123,379,820)
OTHER ADJUSTMENT - (2,113,334) (a) (2,113,334) -
------------------ ----------------- ------------------- --------------------
RETAINED EARNINGS (DEFICIT)
AT END OF YEAR $ 308,213,945 $ (30,620,404) $ 277,593,541 $ 308,213,945
================== ================= =================== ====================
</TABLE>
(a) WestGas Gathering, Inc. was sold on August 30, 1994 and, accordingly, the
statement of income includes only eight months of operations. Retained
earnings have been adjusted and eliminated.
(b) To eliminate intercompany investment, earnings and dividends.
<PAGE>
<TABLE>
<CAPTION>
CONSOLIDATING INFORMATION
------------------------------------------------------------------------------------
Cheyenne Fuel
Light, Fuel WestGas WestGas WestGas Resources 1480
and Power Gathering, InterState, TransColorado, Development Welton,
Company Inc. (a) Inc. Inc. Co. Inc.
------------ ------------- ----------- ------------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES:
Electric $ 33,734,665 $ - $ - $ - $ - $ -
Gas 18,135,363 9,131,383 137,825 - - -
Other - - - - - 9,570,365
------------ ------------- ----------- --------- ------------- ------------
51,870,028 9,131,383 137,825 - - 9,570,365
OPERATING EXPENSES:
Fuel used in generation - - - - - -
Purchased power 24,182,970 - - - - -
Gas purchased for resale 12,917,527 329,784 - - - -
Other operating expenses 4,852,737 2,562,198 47,319 - 500,000 224,426
Maintenance 667,253 1,929,511 - - - -
Defueling and decommissioning - - - - - -
Depreciation and amortization 1,922,463 1,551,035 25,670 - - 1,729,944
Taxes (other than income taxes) 1,145,835 424,864 4,605 - - 861,742
Income taxes 1,408,694 512,696 26,139 (3,479) (1,669,224) 665,674
------------ ------------- ----------- --------- ------------- ------------
47,097,479 7,310,088 103,733 (3,479) (1,169,224) 3,481,786
------------ ------------- ----------- --------- ------------- ------------
OPERATING INCOME (LOSS) 4,772,549 1,821,295 34,092 3,479 1,169,224 6,088,579
OTHER INCOME AND DEDUCTIONS:
Allowance for equity funds used during
construction - - - - - -
Equity in earnings of consolidated
subsidiaries - - - - - -
Interest income from subsidiaries - - - - - -
Miscellaneous income (deductions)- net (48,742) 3,393 5,268 (10,510) (1,020,179) 83,071
------------ ------------- ----------- --------- ------------- ------------
4,723,807 1,824,688 39,360 (7,031) 149,045 6,171,650
INTEREST CHARGES:
Interest on long-term debt 1,489,282 - - - 10,133 4,986,790
Amortization of debt discount and
expense less premium 22,946 - - - - 54,818
Other interest 256,196 1,227,833 - - 1,223,162 4,716
Allowance for borrowed funds used
during construction (57,860) (161,070) - - - (182)
------------ ------------- ----------- --------- ------------- ------------
1,710,564 1,066,763 - - 1,233,295 5,046,142
------------ ------------- ----------- --------- ------------- ------------
NET INCOME (LOSS) 3,013,243 757,925 39,360 (7,031) (1,084,250) 1,125,508
RETAINED EARNINGS (DEFICIT)
AT BEGINNING OF YEAR 13,061,364 1,355,409 (23,703) 2,044 (39,586,410) 8,299,576
------------ ------------- ----------- --------- ------------- ------------
16,074,607 2,113,334 15,657 (4,987) (40,670,660) 9,425,084
DIVIDENDS ON PREFERRED STOCK - - - - - -
DIVIDENDS ON COMMON STOCK (2,260,609) - - - - (9,020,769)
OTHER ADJUSTMENT - (2,113,334) - - - -
------------ ------------- ----------- --------- ------------- ------------
RETAINED EARNINGS (DEFICIT)
AT END OF YEAR $ 13,813,998 $ - $ 15,657 $ (4,987) $(40,670,660) $ 404,315
============ ============= =========== ========= ============= ============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
-----------------------------------------------------
PS
PSR Colorado Natural
Investments, Credit Fuels
Inc. Corporation Corporation
----------------- ---------------- ----------------
<S> <C> <C> <C>
OPERATING REVENUES:
Electric $ - $ - $ -
Gas - - 4,385,768
Other 25,131,638 11,123,410 -
----------------- ---------------- ----------------
25,131,638 11,123,410 4,385,768
OPERATING EXPENSES:
Fuel used in generation - - -
Purchased power - - -
Gas purchased for resale - - 255,701
Other operating expenses 2,003,387 439,601 5,533,357
Maintenance - - -
Defueling and decommissioning - - -
Depreciation and amortization - - 255,760
Taxes (other than income taxes) (11,066) 5,373 138,978
Income taxes (11,474,600) 1,437,892 (666,231)
----------------- ---------------- ----------------
(9,482,279) 1,882,866 5,517,565
----------------- ---------------- ----------------
OPERATING INCOME (LOSS) 34,613,917 9,240,544 (1,131,797)
OTHER INCOME AND DEDUCTIONS:
Allowance for equity funds used during
construction - - -
Equity in earnings of consolidated
subsidiaries - - -
Interest income from subsidiaries - - -
Miscellaneous income (deductions)- net - 13,025 296,185
----------------- ---------------- ----------------
34,613,917 9,253,569 (835,612)
INTEREST CHARGES:
Interest on long-term debt - - 6,796
Amortization of debt discount and
expense less premium - - -
Other interest 29,850,491 6,942,725 36
Allowance for borrowed funds used
during construction - - -
----------------- ---------------- ----------------
29,850,491 6,942,725 6,832
----------------- ---------------- ----------------
NET INCOME (LOSS) 4,763,426 2,310,844 (842,444)
RETAINED EARNINGS (DEFICIT)
AT BEGINNING OF YEAR 2,208,219 - (6,307,928)
----------------- ---------------- ----------------
6,971,645 2,310,844 (7,150,372)
DIVIDENDS ON PREFERRED STOCK - - -
DIVIDENDS ON COMMON STOCK (4,000,000) (2,310,844) -
OTHER ADJUSTMENT - - -
----------------- ---------------- ----------------
RETAINED EARNINGS (DEFICIT)
AT END OF YEAR $ 2,971,645 $ - $ (7,150,372)
================= ================ ================
</TABLE>
<PAGE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS WITH CONSOLIDATING INFORMATION
YEAR ENDED DECEMBER 31, 1994
<TABLE>
<CAPTION>
---------------------------------------
Consolidated Eliminations Total
---------------- --------------- ----------------
<S> <C> <C> <C>
OPERATING ACTIVITIES:
Net income (loss) $ 170,269,319 $ 10,076,581 (a) $ 180,345,900
Adjustments to reconcile net income (loss) to
net cash provided by (used in) operating
activities :
Depreciation and amortization 142,842,744 - 142,842,744
Defueling and decommissioning expenses 43,376,059 - 43,376,059
Gain on sale of WestGas Gathering, Inc. (34,484,630) - (34,484,630)
Amortization of investment tax credits (5,799,766) - (5,799,766)
Deferred income taxes 34,233,625 - 34,233,625
Allowance for equity funds used during construction (3,139,648) - (3,139,648)
Change in accounts receivable (16,281,148) 25,811,679 (b) 9,530,531
Change in inventories 10,007,591 - 10,007,591
Change in other current assets (1,695,374) - (1,695,374)
Change in accounts payable (35,363,903) (13,745,472)(b) (49,109,375)
Change in other current liabilities (39,729,683) - (39,729,683)
Change in deferred amounts (33,920,077) 168,488 (b) (33,751,589)
Change in noncurrent liabilities 15,320,760 1,806,259 (b) 17,127,019
Other 91,840 - 91,840
--------------- -------------- ---------------
Net cash provided by (used in) operating activities 245,727,709 24,117,535 269,845,244
INVESTING ACTIVITIES:
Construction expenditures (317,138,220) - (317,138,220)
Allowance for equity funds used during construction 3,139,648 - 3,139,648
Proceeds from sale of WestGas Gathering, Inc. 87,000,000 - 87,000,000
Proceeds from (cost of) disposition of property,
plant and equipment 49,438,468 29,446,432 (c) 78,884,900
Purchase of other investments (954,623) (56,551,963)(b)(c) (57,506,586)
Sale of other investments 1,147,699 64,743,363 (b)(c) 65,891,062
Subsidiary dividends in excess of earnings - 7,347,151 (a) 7,347,151
--------------- -------------- ---------------
Net cash provided by (used in) investing activities (177,367,028) 44,984,983 (132,382,045)
FINANCING ACTIVITIES:
Proceeds from sale of common stock 38,085,665 42,679,499 (c) 80,765,164
Repurchase of common stock - (75,889,795)(b)(c) (75,889,795)
Proceeds from sale of long-term notes and bonds 250,068,047 - 250,068,047
Redemption of long-term notes and bonds (281,834,544) (18,300,000)(b) (300,134,544)
Short-term borrowings - net 47,925,000 - 47,925,000
Redemption of preferred stock (213,300) - (213,300)
Dividends on common stock (122,531,211) (17,592,222)(a) (140,123,433)
Dividends on preferred stock (12,015,450) - (12,015,450)
--------------- -------------- ---------------
Net cash provided by (used in) financing activities (80,515,793) (69,102,518) (149,618,311)
--------------- -------------- ---------------
Net increase (decrease) in cash and temporary cash
investments (12,155,112) - (12,155,112)
Cash and temporary cash investments at December 31, 1993 18,038,324 - 18,038,324
--------------- -------------- ---------------
Cash and temporary cash investments at December 31, 1994 $ 5,883,212 $ $ 5,883,212
=============== ============== ===============
</TABLE>
(a) Eliminate subsidiary net income, undistributed equity in earnings of
subsidiaries and dividends paid to parent.
(b) Eliminate changes in accounts payable to and receivables from associated
companies.
(c) Eliminate intercompany stock transactions.
(d) WestGas Gathering, Inc. was sold on August 30, 1994 and, accordingly, the
statement of cash flows includes only eight months of operations.
<PAGE>
<TABLE>
<CAPTION>
CONSOLIDATING INFORMATION
--------------------------------------------------------------
Public Cheyenne
Service Light, Fuel WestGas
Company of and Power Gathering,
Colorado Company Inc. (d)
---------------- -------------- -------------
<S> <C> <C> <C>
OPERATING ACTIVITIES:
Net income (loss) $ 170,269,319 $ 3,013,243 $ 757,925
Adjustments to reconcile net income (loss) to
net cash provided by (used in) operating
activities :
Depreciation and amortization 137,278,142 1,935,609 1,551,035
Defueling and decommissioning expenses 43,376,059 - -
Gain on sale of WestGas Gathering, Inc. (34,484,630) - -
Amortization of investment tax credits (5,643,892) (91,026) -
Deferred income taxes 38,071,305 757,769 26,996
Allowance for equity funds used during construction (3,139,648) - -
Change in accounts receivable 11,013,335 (165,733) 2,834,433
Change in inventories 9,234,131 132,165 564,072
Change in other current assets (319,326) (1,805,526) 3,193
Change in accounts payable (46,010,451) (1,100,402) 2,164,291
Change in other current liabilities (35,532,111) (54,279) 127,870
Change in deferred amounts (33,053,231) (492,779) 135,524
Change in noncurrent liabilities 17,101,147 46,309 -
Other - - -
--------------- ------------- ------------
Net cash provided by (used in) operating activities 268,160,149 2,175,350 8,165,339
INVESTING ACTIVITIES:
Construction expenditures (298,033,347) (6,796,306) (8,164,341)
Allowance for equity funds used during construction 3,139,648 - -
Proceeds from sale of WestGas Gathering, Inc. 87,000,000 - -
Proceeds from (cost of) disposition of property,
plant and equipment (21,947,632) (280,449) 47,744,434
Purchase of other investments (43,191,435) - -
Sale of other investments 65,693,267 - -
Subsidiary dividends in excess of earnings 7,347,151 - -
--------------- ------------- ------------
Net cash provided by (used in) investing activities (199,992,348) (7,076,755) 39,580,093
FINANCING ACTIVITIES:
Proceeds from sale of common stock 38,085,665 - -
Repurchase of common stock - - (29,446,432)
Proceeds from sale of long-term notes and bonds 242,009,754 8,058,293 -
Redemption of long-term notes and bonds (271,869,700) (8,095,200) (18,300,000)
Short-term borrowings - net 52,000,000 7,400,000 -
Redemption of preferred stock (213,300) - -
Dividends on common stock (122,531,211) (2,260,609) -
Dividends on preferred stock (12,015,450) - -
--------------- ------------- ------------
Net cash provided by (used in) financing activities (74,534,242) 5,102,484 (47,746,432)
--------------- ------------- ------------
Net increase (decrease) in cash and temporary cash
investments (6,366,441) 201,079 (1,000)
Cash and temporary cash investments at December 31, 1993 7,712,686 942,355 1,000
--------------- ------------- ------------
Cash and temporary cash investments at December 31, 1994 $ 1,346,245 $ 1,143,434 $ -
=============== ============= ============
<PAGE>
<CAPTION>
---------------------------------------------------------
Fuel
WestGas WestGas Resources
InterState, TransColorado, Development
Inc. Inc. Co.
--------------- --------------- -----------------
<S>
OPERATING ACTIVITIES:
Net income (loss) $ 39,360 $ (7,031) $ (1,084,250)
Adjustments to reconcile net income (loss) to
net cash provided by (used in) operating
activities :
Depreciation and amortization 25,670 - -
Defueling and decommissioning expenses - - -
Gain on sale of WestGas Gathering, Inc. - - -
Amortization of investment tax credits - - -
Deferred income taxes 18,225 - (4,389,641)
Allowance for equity funds used during construction - - -
Change in accounts receivable (24,488) 10,483 2,641,846
Change in inventories - - 10,837
Change in other current assets (423) - 52,760
Change in accounts payable (122,218) 200,471 (4,259,129)
Change in other current liabilities (2,886) (4,461) (4,171,701)
Change in deferred amounts 8,668 3,177 (416,277)
Change in noncurrent liabilities - - (20,437)
Other - (2,639) -
--------------- --------------- -----------------
Net cash provided by (used in) operating activities (58,092) 200,000 (11,635,992)
INVESTING ACTIVITIES:
Construction expenditures - - (3,264,945)
Allowance for equity funds used during construction - - -
Proceeds from sale of WestGas Gathering, Inc. - - -
Proceeds from (cost of) disposition of property,
plant and equipment - - 27,816,833
Purchase of other investments - (200,000) (1,806,259)
Sale of other investments - - 178,153
Subsidiary dividends in excess of earnings - - -
--------------- --------------- -----------------
Net cash provided by (used in) investing activities - (200,000) 22,923,782
FINANCING ACTIVITIES:
Proceeds from sale of common stock - - -
Repurchase of common stock - - -
Proceeds from sale of long-term notes and bonds - - -
Redemption of long-term notes and bonds - - -
Short-term borrowings - net - - (289,643)
Redemption of preferred stock - - (11,650,000)
Dividends on common stock - - -
Dividends on preferred stock - - -
--------------- --------------- -----------------
Net cash provided by (used in) financing activities - - (11,939,643)
Net increase (decrease) in cash and temporary cash --------------- --------------- -----------------
investments (58,092) - (651,853)
Cash and temporary cash investments at December 31, 1993 107,943 - 651,653
--------------- --------------- -----------------
Cash and temporary cash investments at December 31, 1994 $ 49,851 $ - $ (200)
=============== =============== =================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
---------------------------------------------------------------
PS
1480 PSR Colorado Natural
Welton, Investments, Credit Fuels
Inc. Inc. Corporation Corporation
-------------- -------------- -------------- -------------
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net income (loss) $ 1,125,508 $ 4,763,426 $ 2,310,844 $ (842,444)
Adjustments to reconcile net income (loss) to
net cash provided by (used in) operating
activities :
Depreciation and amortization 1,785,365 - - 266,923
Defueling and decommissioning expenses - - - -
Gain on sale of WestGas Gathering, Inc. - - - -
Amortization of investment tax credits (64,848) - - -
Deferred income taxes 121,092 (330,436) (24) (41,661)
Allowance for equity funds used during construction - - - -
Change in accounts receivable 8,566 (729,273) (5,915,429) (143,209)
Change in inventories - - - 66,386
Change in other current assets 20,802 344,934 (5,427) 13,639
Change in accounts payable 126,461 (25) - (108,373)
Change in other current liabilities (255,344) 64,421 (105,435) 204,243
Change in deferred amounts 110,991 11,802 19,822 (79,286)
Change in noncurrent liabilities - - - -
Other - - - 94,479
-------------- -------------- -------------- -------------
Net cash provided by (used in) operating activities 2,978,593 4,124,849 (3,695,649) (569,303)
INVESTING ACTIVITIES:
Construction expenditures (540,386) - - (338,895)
Allowance for equity funds used during construction - - - -
Proceeds from sale of WestGas Gathering, Inc. - - - -
Proceeds from (cost of) disposition of property,
plant and equipment 25,431,107 - - 120,607
Purchase of other investments (12,066,207) (110,352) - (132,333)
Sale of other investments - - - 19,642
Subsidiary dividends in excess of earnings - - - -
-------------- -------------- -------------- -------------
Net cash provided by (used in) investing activities 12,824,514 (110,352) - (330,979)
FINANCING ACTIVITIES:
Proceeds from sale of common stock - - 42,679,499 -
Repurchase of common stock (4,543,811) - (41,899,552) -
Proceeds from sale of long-term notes and bonds - - - -
Redemption of long-term notes and bonds (1,522,986) - - (57,015)
Short-term borrowings - net - - 175,000 -
Redemption of preferred stock - - - -
Dividends on common stock (9,020,769) (4,000,000) (2,310,844) -
Dividends on preferred stock - - - -
-------------- -------------- -------------- -------------
Net cash provided by (used in) financing activities (15,087,566) (4,000,000) (1,355,897) (57,015)
-------------- -------------- -------------- -------------
Net increase (decrease) in cash and temporary cash
investments 715,541 14,497 (5,051,546) (957,297)
Cash and temporary cash investments at December 31, 1993 684,631 26 5,067,385 2,870,645
-------------- -------------- -------------- -------------
Cash and temporary cash investments at December 31, 1994 $ 1,400,172 $ 14,523 $ 15,839 $ 1,913,348
============== ============== ============== =============
</TABLE>
<PAGE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATING ELIMINATIONS FOR THE BALANCE SHEET AND STATEMENT OF INCOME
AND RETAINED EARNINGS
DECEMBER 31, 1994
<TABLE>
<CAPTION>
DEBIT CREDIT
------------ ------------
<S> <C> <C>
(1)
Common stock of subsidiaries $ 85,582,694
Property, plant and equipment - steam and other (excess of
carrying value of investment in consolidated subsidiaries
over the equity applicable thereto at the respective dates
of acquisition) 7,711
Retained earnings includes (a) 1994 subsidiary earnings of
$10,245,071 attributable to parent; (b) a 1994 subsidiary loss
of $168,490 attributable to minority interest; and (c) ($69,139)
of subsidiaries retained earnings at dates of acquisition $ 30,620,404
Investment in consolidated subsidiaries 53,828,610
Other deferred credits (minority interest in Natural Fuels
Corporation) 1,141,391
To eliminate investment in consolidated subsidiaries.
(2)
Accounts payable to associated companies 41,417,707
Other noncurrent liabilities 4,387,254
Note payable to associated company 12,066,207
Accounts receivable from associated companies 10,048,038
Note receivable from associated company 12,066,207
Other investments 4,387,254
Fuel inventory financed 31,369,669
To eliminate intercompany accounts, as follows:
<CAPTION>
Current
Accounts
------------
Payable by: Receivable by:
<S> <C> <C>
Cheyenne Light, Fuel and Power Company $ 915,145
1480 Welton, Inc. 278,098
WestGas TransColorado, Inc. 213,434
------------
1,406,677 Public Service Company of Colorado
Cheyenne Light, Fuel and Power Company 18,212 WestGas InterState, Inc.
Public Service Company of Colorado 2,760,266 PSR Investments, Inc.
Public Service Company of Colorado 1,984 WestGas InterState, Inc.
Public Service Company of Colorado 3,752,666 Fuel Resources Development Co.
Public Service Company of Colorado 1,977,345 PS Colorado Credit Corporation
Public Service Company of Colorado 130,888 Natural Fuels Corporation
------------
10,048,038
============
Note
Receivable
------------
1480 Welton, Inc. 12,066,207 Public Service Company of Colorado
============
Long-Term
Income Tax
Receivable
------------
Public Service Company of Colorado 4,387,254 Fuel Resources Development Co.
============
Fuel
Inventory
Financed
------------
Public Service Company of Colorado 31,369,669 PS Colorado Credit Corporation
============
</TABLE>
<PAGE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATING ELIMINATIONS FOR THE BALANCE SHEET AND STATEMENT OF INCOME
AND RETAINED EARNINGS (Continued)
DECEMBER 31, 1994
<TABLE>
<CAPTION>
DEBIT CREDIT
--------- ----------
<S> <C> <C>
(3)
Operating revenues - gas 3,153,172
Operating revenues - other 20,620,967
Miscellaneous income and deductions - net 259,588
Gas purchased for resale 195,678
Other operating expenses 21,622,329
Interest on debt to associates 2,215,720
To eliminate intercompany revenues and expenses as follows:
<CAPTION>
Gas Other Interest
purchased operating on debt to
Total for resale expenses associates
------------- ------------ ------------ -------------
<S> <C> <C> <C> <C>
Gas Operating Revenues:
Gas transportation fee charged by Public Service Company
of Colorado to Cheyenne Light, Fuel and Power Company 95,509 95,509 - -
Gas transportation fee charged by WestGas InterState,
Inc. to Cheyenne Light, Fuel and Power Company 74,461 74,461 - -
Gas gathering fee charged by WestGas Gathering, Inc.
to Public Service Company of Colorado 1,209,054 - 1,209,054 -
Gas transportation fee charged by Public Service Company
of Colorado to Natural Fuels Corporation 22,544 22,544 - -
Natural Fuels Corporation sales to Public Service
Company of Colorado for station maintenance and other 1,721,604 3,164 1,718,440 -
Administrative and operating fee charged by Public Service
Company of Colorado to WestGas InterState, Inc. 30,000 - 30,000 -
------------- ------------ ------------ ------------
3,153,172 195,678 2,957,494 -
------------- ------------ ------------ ------------
Other Operating Revenues:
Rent charged by 1480 Welton, Inc. to Public Service
Company of Colorado 9,497,557 - 9,497,557 -
Customer receivables discount charged by PS Colorado
Credit Corporation to Public Service Company of Colorado 8,907,690 - 8,907,690 -
Fuel inventory financing costs charged by PS Colorado
Credit Corporation to Public Service Company of Colorado 2,215,720 - - 2,215,720
------------- ------------ ------------ -------------
20,620,967 - 18,405,247 2,215,720
------------- ------------ ------------ -------------
Miscellaneous Income and Deductions - net:
Market development from Public Service Company of
Colorado to Natural Fuels Corporation 259,588 - 259,588 -
------------- ------------ ------------ ------------
24,033,727 195,678 21,622,329 2,215,720
============= ============ ============ ============
(4)
Interest income from subsidiaries 1,257,981
Interest charges - other interest 1,257,981
To eliminate intercompany interest income and expense
Interest charges recorded by:
Cheyenne Light, Fuel and Power Company $ 14,227
Natural Fuels Corporation 36
PSR Investments, Inc. 15,885
WestGas Gathering, Inc. 1,227,833
-----------
$ 1,257,981
===========
Interest income recorded by:
Public Service Company of Colorado $ 1,257,981
===========
</TABLE>
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