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Previous: PRIME HOSPITALITY CORP, 10-K405, 1996-03-29 |
Next: PUBLIX SUPER MARKETS INC, 11-K, 1996-03-29 |
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:
Teresa S. Madden, Assistant Secretary
PUBLIC SERVICE COMPANY OF COLORADO
1225 17th Street, Suite 500
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, 1996.
Attest: (SEAL) PUBLIC SERVICE COMPANY OF COLORADO
/s/Carol J.Peterson By /s/ Teresa S. Madden
------------------- --------------------
Assistant Secretary Assistant Secretary
Teresa S. Madden
<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; E PRIME, INC.; WESTGAS INTERSTATE, INC.; WESTGAS TRANSCOLORADO,
INC.; FUEL RESOURCES DEVELOPMENT CO.; YOUNG GAS STORAGE COMPANY; 1480 WELTON,
INC.; GREEN AND CLEAR LAKES COMPANY; PSR INVESTMENTS, INC.; PS COLORADO
CREDIT CORPORATION AND NATURAL FUELS CORPORATION AND CONSOLIDATED FOR THE
YEAR ENDED DECEMBER 31, 1995, TOGETHER WITH A CONSOLIDATING BALANCE SHEET OF
CLAIMANT AND SUCH SUBSIDIARY COMPANIES CONSOLIDATED AS OF THE CLOSE OF THE
CALENDAR YEAR 1995.
New Century Energies, Inc., 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.
The following information is submitted in reference to six 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, Fisher Ditch 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 $6.
* * * * * *
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>
<TABLE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET WITH CONSOLIDATING INFORMATION - DECEMBER 31, 1995
<CAPTION>
Public
Service
Company of
ASSETS Consolidated Eliminations Total Colorado
------ ------------ ------------ ----- --------
<S> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT, at cost:
Electric $ 3,751,321,274 $ -- $ 3,751,321,274 $ 3,703,479,053
Gas 989,214,901 -- 989,214,901 938,528,614
Steam and other 88,445,658 7,711 (1) 88,437,947 86,170,542
Common to all departments 380,809,529 -- 380,809,529 321,811,497
Construction in progress 192,579,579 -- 192,579,579 189,765,284
----------- ----- ----------- -----------
5,402,370,941 7,711 5,402,363,230 5,239,754,990
Less: accumulated depreciation 1,921,658,551 -- 1,921,658,551 1,876,600,723
------------- ----- ------------- -------------
Total property, plant and equipment 3,480,712,390 7,711 3,480,704,679 3,363,154,267
------------- ----- ------------- -------------
INVESTMENTS:
Subsidiaries consolidated - common stock -- (51,910,497)(1) 51,910,497 51,910,497
Note receivable from associated company -- (12,066,207)(2) 12,066,207 --
Other, at cost 24,281,988 (3,078,466)(2) 27,360,454 14,030,575
---------- ---------- ---------- ----------
Total investments 24,281,988 (67,055,170) 91,337,158 65,941,072
---------- ----------- ---------- ----------
CURRENT ASSETS:
Cash and temporary cash investments 14,693,147 -- 14,693,147 10,185,141
Accounts receivable 128,361,379 -- 128,361,379 (2,797,220)
Reserve for uncollectible accounts (3,629,935) -- (3,629,935) (3,326,180)
Accounts receivable from associated companies -- (6,709,782)(2) 6,709,782 1,537,529
Accrued unbilled revenues 96,988,886 -- 96,988,886 95,910,506
Materials and supplies, at average cost 56,525,252 -- 56,525,252 54,482,926
Fuel inventory, at average cost 35,653,672 -- 35,653,672 35,653,672
Fuel inventory financed -- (35,724,489)(2) 35,724,489 --
Gas in underground storage, at cost (LIFO) 44,899,754 -- 44,899,754 44,261,462
Current portion of accumulated
deferred income taxes 19,229,330 -- 19,229,330 18,000,348
Regulatory assets recoverable within one year 40,247,292 -- 40,247,292 40,189,304
Prepaid expenses and other 35,618,019 -- 35,618,019 34,825,315
---------- ---------- ----------
Total current assets 468,586,796 (42,434,271) 511,021,067 328,922,803
----------- ----------- ----------- -----------
DEFERRED CHARGES:
Regulatory assets 321,797,018 -- 321,797,018 321,455,327
Unamortized debt expense 10,460,432 -- 10,460,432 9,049,118
Other 48,456,768 -- 48,456,768 47,692,967
---------- ---------- ----------
Total deferred charges 380,714,218 -- 380,714,218 378,197,412
----------- ----- ----------- -----------
$ 4,354,295,392 $(109,481,730) $ 4,463,777,122 $ 4,136,215,554
=============== ============= =============== ===============
<PAGE>
<CAPTION>
CONSOLIDATING INFORMATION
--------------------------------------------------------------------
Cheyenne Fuel
Light, Fuel WestGas Resources
and Power e prime, InterState, Development
ASSETS Company inc. Inc. Co.
------ ------- ---- ---- ---
<S> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT, at cost:
Electric $ 47,817,221 $ -- $ -- $ --
Gas 24,799,387 -- 651,867 22,795,031
Steam and other 11,716 645,801 -- --
Common to all departments 3,892,993 -- -- --
Construction in progress 2,814,041 -- -- --
--------- ---- ----- ----
79,335,358 645,801 651,867 22,795,031
Less: accumulated depreciation 26,666,724 72,519 90,344 3,071,768
---------- ------ ------ ---------
Total property, plant and equipment 52,668,634 573,282 561,523 19,723,263
---------- ------- ------- ----------
INVESTMENTS:
Subsidiaries consolidated - common stock -- -- -- --
Note receivable from associated company -- -- -- --
Other, at cost 86,540 -- -- 3,078,466
------ ---- ---- ---------
Total investments 86,540 -- -- 3,078,466
------ ---- ---- ---------
CURRENT ASSETS:
Cash and temporary cash investments 1,774,960 155,644 115,978 38,222
Accounts receivable 3,483,552 246,577 6,762 403,241
Reserve for uncollectible accounts (5,958) -- -- (297,797)
Accounts receivable from associated companies -- -- 11,058 4,478,311
Accrued unbilled revenues 1,065,518 -- -- --
Materials and supplies, at average cost 421,893 -- -- 35,959
Fuel inventory, at average cost -- -- -- --
Fuel inventory financed -- -- -- --
Gas in underground storage, at cost (LIFO) 638,292 -- -- --
Current portion of accumulated deferred
income taxes 1,208,291 -- -- --
Regulatory assets recoverable within one year 57,988 -- -- --
Prepaid expenses and other 61,597 3,072 -- --
------ ----- ---- ----
Total current assets 8,706,133 405,293 133,798 4,657,936
--------- ------- ------- ---------
DEFERRED CHARGES:
Regulatory assets 341,292 -- 399 --
Unamortized debt expense 444,038 -- -- --
Other 698,487 -- 1,188 42,886
------- ---- ----- ------
Total deferred charges 1,483,817 -- 1,587 42,886
--------- ---- ----- ------
$ 62,945,124 $ 978,575 $ 696,908 $ 27,502,551
============== ============= =============== ===============
<PAGE>
<CAPTION>
----------------------------------------------------------------
Green
Young Gas 1480 and PSR
Storage Welton, Clear Lakes Investments,
ASSETS Company Inc. Company Inc.
------ ------- ---- ------- ----
<S> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT, at cost:
Electric $ -- $ -- $ 25,000 $ --
Gas -- -- -- --
Steam and other -- 1,609,888 -- --
Common to all departments -- 55,105,039 -- --
Construction in progress -- 254 -- --
----- --- ----- -----
-- 56,715,181 25,000 --
Less: accumulated depreciation -- 14,099,479 -- --
----- ---------- ----- -----
Total property, plant and equipment -- 42,615,702 25,000 --
----- ---------- ------ -----
INVESTMENTS:
Subsidiaries consolidated - common stock -- -- -- --
Note receivable from associated company -- 12,066,207 -- --
Other, at cost 7,157,133 -- -- 2,264,488
--------- ---- ----- ---------
Total investments 7,157,133 12,066,207 -- 2,264,488
--------- ---------- ----- ---------
CURRENT ASSETS:
Cash and temporary cash investments -- 25,928 -- 752,563
Accounts receivable 9,250 6,244 -- 3,184
Reserve for uncollectible accounts -- -- -- --
Accounts receivable from associated companies -- 682,884 -- --
Accrued unbilled revenues -- -- -- --
Materials and supplies, at average cost -- -- -- --
Fuel inventory, at average cost -- -- -- --
Fuel inventory financed -- -- -- --
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 -- 32,022 -- 469,005
----- ------ ----- -------
Total current assets 9,250 752,331 -- 1,224,752
----- ------- ----- ---------
DEFERRED CHARGES:
Regulatory assets -- -- -- --
Unamortized debt expense -- 755,047 -- --
Other 20,375 -- -- --
------
Total deferred charges 20,375 755,047 -- --
------ ------- ----- -----
$ 7,186,758 $ 56,189,287 $ 25,00 $ 3,489,240
============= ============= ============== ===============
<PAGE>
<CAPTION>
----------------------------------
PS
Colorado Natural
Credit Fuels
ASSETS Corporation Corporation
------ ----------- -----------
<S> <C> <C>
PROPERTY, PLANT AND EQUIPMENT, at cost:
Electric $ -- $ -
Gas -- 2,440,002
Steam and other -- -
Common to all departments -- -
Construction in progress -- -
----- ----
-- 2,440,002
Less: accumulated depreciation -- 1,056,994
----- ---------
Total property, plant and equipment -- 1,383,008
----- ---------
INVESTMENTS:
Subsidiaries consolidated - common stock - -
Note receivable from associated company - -
Other, at cost - 743,252
----- -------
Total investments - 743,252
----- -------
CURRENT ASSETS:
Cash and temporary cash investments 36,869 1,607,842
Accounts receivable 126,532,582 467,207
Reserve for uncollectible accounts - -
Accounts receivable from associated companies - -
Accrued unbilled revenues - 12,862
Materials and supplies, at average cost - 1,584,474
Fuel inventory, at average cost - -
Fuel inventory financed 35,724,489 -
Gas in underground storage, at cost (LIFO) - -
Current portion of accumulated deferred
income taxes - 15,438
Regulatory assets recoverable within one year - -
Prepaid expenses and other 214,634 12,374
------- ------
Total current assets 162,508,574 3,700,197
----------- ---------
DEFERRED CHARGES:
Regulatory assets - -
Unamortized debt expense 212,229 -
Other - 865
---- ---
Total deferred charges 212,229 865
------- ---
$ 162,720,803 $ 5,827,322
============= ==============
</TABLE>
<PAGE>
<TABLE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET WITH CONSOLIDATING INFORMATION - DECEMBER 31, 1995
<CAPTION>
----------------------------------------------------------
Public
Service
Company of
CAPITAL AND LIABILITIES Consolidated Eliminations Total Colorado
----------------------- ------------ ------------ ----- --------
<S> <C> <C> <C> <C>
COMMON STOCK $ 997,105,846 $ -- $ 997,105,846 $ 997,105,846
COMMON STOCK OF SUBSIDIARIES -- (86,556,978)(1) 86,556,978 --
RETAINED EARNINGS (DEFICIT) 346,539,057 (33,736,763)(1) 312,802,294 346,539,057
----------- ----------- -- ----------- -----------
Total common equity 1,343,644,903 (52,820,215) 1,396,465,118 1,343,644,903
------------- ---------- ------------- -------------
PREFERRED STOCK:
Not subject to mandatory redemption 140,007,500 -- 140,007,500 140,007,500
Subject to mandatory redemption at par 41,289,200 -- 41,289,200 41,289,200
LONG-TERM DEBT 1,195,553,468 -- 1,195,553,468 1,064,962,133
------------- ------ ------------- -------------
2,720,495,071 52,820,215 2,773,315,286 2,589,903,736
------------- ---------- ------------- -------------
NONCURRENT LIABILITIES:
Defueling and decommissioning liability 23,114,595 -- 23,114,595 23,114,595
Employees' postretirement benefits other
than pensions 51,704,497 -- 51,704,497 51,560,703
Employees' postemployment benefits 23,500,000 -- 23,500,000 22,869,260
Note payable to associated company -- (12,066,207)(2) 12,066,207 12,066,207
Other -- (3,078,466)(2) 3,078,466 3,078,466
------- ---------- ----------- ---------
Total noncurrent liabilities 98,319,092 (15,144,673) 113,463,765 112,689,231
---------- ---------- ----------- -----------
CURRENT LIABILITIES:
Notes payable and commercial paper 288,050,000 -- 288,050,000 182,050,000
Long-term debt due within one year 82,836,318 -- 82,836,318 82,478,852
Preferred stock subject to mandatory
redemption within one year 2,576,000 -- 2,576,000 2,576,000
Accounts payable 156,108,947 -- 156,108,947 150,667,576
Accounts payable to associated companies -- (42,434,271)(2) 42,434,271 38,308,057
Dividends payable 35,284,252 -- 35,284,252 35,284,252
Recovered purchased gas and electric
energy costs - net 9,507,794 -- 9,507,794 8,341,733
Customers' deposits 17,462,444 -- 17,462,444 17,207,464
Accrued taxes 55,392,511 -- 55,392,511 54,254,720
Accrued interest 32,071,475 -- 32,071,475 30,595,093
Current defueling & decommissioning liability 24,054,606 -- 24,054,606 24,054,606
Other 78,450,639 -- 78,450,639 76,968,553
---------- ----- ---------- ----------
Total current liabilities 781,794,986 (42,434,271) 824,229,257 702,786,906
----------- ---------- ----------- -----------
DEFERRED CREDITS:
Customers' advances for construction 99,519,320 -- 99,519,320 99,002,556
Unamortized investment tax credits 113,183,573 -- 113,183,573 110,700,716
Accumulated deferred income taxes 508,142,888 -- 508,142,888 489,649,118
Other 32,840,462 917,429 (1) 31,923,033 31,483,291
---------- -------- ---------- ----------
Total deferred credits 753,686,243 917,429 752,768,814 730,835,681
COMMITMENTS AND CONTINGENCIES ------------- ------------- -------------- ---------------
$4,354,295,392 $(109,481,730) $4,463,777,122 $ 4,136,215,554
============== ============= ============== ===============
<PAGE>
<CAPTION>
CONSOLIDATING INFORMATION
--------------------------------------------------------------------
Cheyenne Fuel
Light, Fuel WestGas Resources
and Power e prime, InterState, Development
CAPITAL AND LIABILITIES Company inc. Inc. Co.
----------------------- ------- ---- ---- ---
<S> <C> <C> <C> <C>
COMMON STOCK $ -- $ -- $ -- $ --
COMMON STOCK OF SUBSIDIARIES 3,000,000 1,098,835 600,000 32,050,000
RETAINED EARNINGS (DEFICIT) 14,667,352 (440,131) 30,478 (42,624,806)
---------- -------- ------ -----------
Total common equity 17,667,352 658,704 630,478 (10,574,806)
PREFERRED STOCK:
Not subject to mandatory redemption -- -- -- --
Subject to mandatory redemption at par -- -- -- --
LONG-TERM DEBT 19,000,000 -- -- --
---------- ----- ----- ----
36,667,352 658,704 630,478 (10,574,806)
---------- ------- ------- -----------
NONCURRENT LIABILITIES:
Defueling and decommissioning liability -- -- -- --
Employees' postretirement benefits other
than pensions 143,794 -- -- --
Employees' postemployment benefits 630,740 -- -- --
Note payable to associated company -- -- -- --
Other -- -- -- --
----- ----- ----- -----
Total noncurrent liabilities 774,534 -- -- --
------- ----- ----- -----
CURRENT LIABILITIES:
Notes payable and commercial paper 9,600,000 -- -- 34,350,000
Long-term debt due within one year -- -- -- --
Preferred stock subject to mandatory
redemption within one year -- -- -- --
Accounts payable 4,357,339 237,400 -- 504,014
Accounts payable to associated companies 1,102,930 21,953 -- --
Dividends payable -- -- -- --
Recovered purchased gas and electric
energy costs - net 1,166,061 -- -- --
Customers' deposits 254,980 -- -- --
Accrued taxes 572,001 57,341 10,886 233,966
Accrued interest 555,591 -- -- 182,131
Current defueling & decommissioning liability -- -- -- --
Other 815,146 -- -- 445,855
------- ----- ----- -------
Total current liabilities 18,424,048 316,694 10,886 35,715,966
---------- ------- ------ ----------
DEFERRED CREDITS:
Customers' advances for construction 516,764 -- -- --
Unamortized investment tax credits 1,476,826 -- -- --
Accumulated deferred income taxes 5,051,858 3,177 55,544 1,955,391
Other 33,742 -- -- 406,000
------ ----- ----- -------
Total deferred credits 7,079,190 3,177 55,544 2,361,391
COMMITMENTS AND CONTINGENCIES
------------- -------------- ------------- ---------------
$ 62,945,124 $ 978,575 $ 696,908 $ 27,502,551
============= ============== ============= ===============
<PAGE>
<CAPTION>
---------------------------------------------------------------
Green
Young Gas 1480 And PSR
Storage Welton, Clear Lakes Investments,
CAPITAL AND LIABILITIES Company Inc. Company Inc.
----------------------- ------- ---- ------- ----
<S> <C> <C> <C>
COMMON STOCK $ -- $ -- $ -- $ --
COMMON STOCK OF SUBSIDIARIES 6,316,876 7,506,189 25,000 3,631,900
RETAINED EARNINGS (DEFICIT) 530,256 1,802,018 -- 315,644
------- --------- -------
Total common equity 6,847,132 9,308,207 25,000 3,947,544
PREFERRED STOCK:
Not subject to mandatory redemption -- -- -- --
Subject to mandatory redemption at par -- -- -- --
LONG-TERM DEBT -- 31,506,290 -- --
------ ----------
6,847,132 40,814,497 25,000 3,947,544
--------- ---------- ------ ---------
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 -- 1,850,000 -- --
Long-term debt due within one year -- 307,568 -- --
Preferred stock subject to mandatory
redemption within one year -- -- -- --
Accounts payable -- (125) -- --
Accounts payable to associated companies 260,832 -- -- 22,368
Dividends payable -- -- -- --
Recovered purchased gas and electric
energy costs - net -- -- -- --
Customers' deposits -- -- -- --
Accrued taxes 78,794 101,129 -- 8,492
Accrued interest -- 352,573 -- --
Current defueling & decommissioning liability -- -- -- --
Other -- 20,848 -- --
----- ------- ----- -----
Total current liabilities 339,626 2,631,993 -- 30,860
------- --------- ------
DEFERRED CREDITS:
Customers' advances for construction -- -- -- --
Unamortized investment tax credits -- 1,006,031 -- --
Accumulated deferred income taxes -- 11,736,766 -- (489,164)
Other -- -- -- --
------- ------ ----- ------
Total deferred credits -- 12,742,797 -- (489,164)
COMMITMENTS AND CONTINGENCIES
------------- -------------- ------------- ---------------
$ 7,186,758 $ 56,189,287 $ 25,000 $ 3,489,240
============= ============== ============= ===============
<PAGE>
<CAPTION>
------------------------------------
PS
Colorado Natural
Credit Fuels
CAPITAL AND LIABILITIES Corporation Corporation
----------------------- ----------- -----------
<S> <C> <C>
COMMON STOCK $ -- $ --
COMMON STOCK OF SUBSIDIARIES 19,470,849 12,857,329
RETAINED EARNINGS (DEFICIT) -- (8,017,574)
----- ----------
Total common equity 19,470,849 4,839,755
PREFERRED STOCK:
Not subject to mandatory redemption -- --
Subject to mandatory redemption at par -- --
LONG-TERM DEBT 80,000,000 85,045
---------- ------
99,470,849 4,924,800
---------- ---------
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 60,200,000 --
Long-term debt due within one year -- 49,898
Preferred stock subject to mandatory
redemption within one year -- --
Accounts payable -- 342,743
Accounts payable to associated companies 2,588,685 129,446
Dividends payable -- --
Recovered purchased gas and electric
energy costs - net -- --
Customers' deposits -- --
Accrued taxes 75,182 --
Accrued interest 386,087 --
Current defueling & decommissioning liability -- --
Other -- 200,237
------ -------
Total current liabilities 63,249,954 722,324
---------- -------
DEFERRED CREDITS:
Customers' advances for construction -- --
Unamortized investment tax credits -- --
Accumulated deferred income taxes -- 180,198
Other -- --
-------------- --------------
Total deferred credits -- 180,198
COMMITMENTS AND CONTINGENCIES
-------------- --------------
$ 162,720,803 $ 5,827,322
============== ==============
</TABLE>
<PAGE>
<TABLE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS WITH CONSOLIDATING INFORMATION
YEAR ENDED DECEMBER 31, 1995
<CAPTION>
--------------------------------------------------------------
Public
Service
Company of
Consolidated Eliminations Total Colorado
------------ ------------ ----- --------
<S> <C> <C> <C> <C>
OPERATING REVENUES:
Electric $ 1,449,095,635 $ -- $ 1,449,095,635 $ 1,412,444,085
Gas 624,584,713 418,139 (3) 625,002,852 602,213,604
Other 36,920,619 22,117,045 (3) 59,037,664 6,682,002
---------- ------ ---------- ---------
2,110,600,967 22,535,184 2,133,136,151 2,021,339,691
OPERATING EXPENSES:
Fuel used in generation 181,994,702 -- 181,994,702 181,994,702
Purchased power 481,957,786 -- 481,957,786 454,230,871
Gas purchased for resale 392,679,925 (156,329)(3) 392,836,254 380,799,353
Other operating expenses 350,093,494 (19,852,248)(3) 369,945,742 355,479,281
Maintenance 64,068,782 -- 64,068,782 63,366,476
Depreciation and amortization 141,380,189 -- 141,380,189 136,849,088
Taxes (other than income taxes) 81,319,075 -- 81,319,075 79,237,410
Income taxes 95,357,290 -- 95,357,290 108,507,968
---------- ----- ---------- -----------
1,788,851,243 (20,008,577) 1,808,859,820 1,760,465,149
------------- ----------- ------------- -------------
OPERATING INCOME (LOSS) 321,749,724 2,526,607 324,276,331 260,874,542
OTHER INCOME AND DEDUCTIONS:
Allowance for equity funds used during
construction 3,781,870 -- 3,781,870 3,781,870
Equity in earnings of consolidated
subsidiaries -- 11,575,041 (1) 11,575,041 11,575,041
Interest income from subsidiaries -- 1,124,355 (4) 1,124,355 76,519
Miscellaneous income (deductions) - net (2,769,530) (42,785)(1)(3) (2,812,315) (3,675,890)
---------- ------- ---------- ----------
1,012,340 12,656,611 13,668,951 11,757,540
INTEREST CHARGES:
Interest on long-term debt 85,832,292 -- 85,832,292 79,277,346
Amortization of debt discount and
expense less premium 3,277,624 -- 3,277,624 3,152,532
Other interest 58,108,898 (3,777,388)(3)(4) 61,886,286 14,614,355
Allowance for borrowed funds used
during construction (3,312,843) -- (3,312,843) (3,268,244)
---------- ---------- ----------
143,905,971 (3,777,388) 147,683,359 93,775,989
----------- ---------- ----------- ----------
NET INCOME (LOSS) 178,856,093 11,405,830 (b) 190,261,923 178,856,093
RETAINED EARNINGS (DEFICIT)
AT BEGINNING OF YEAR 308,213,945 30,620,404 (b) 277,593,541 308,213,945
----------- ---------- ----------- -----------
487,070,038 (19,214,574) 467,855,464 487,070,038
DIVIDENDS ON PREFERRED STOCK (11,944,220) -- (11,944,220) (11,944,220)
DIVIDENDS ON COMMON STOCK (128,586,761) (14,578,073)(b) (143,164,834) (128,586,761)
OTHER ADJUSTMENT -- 55,884 (a) 55,884 --
----- ------ ------ -----
RETAINED EARNINGS (DEFICIT)
AT END OF YEAR $ 346,539,057 $ (33,736,763) $ 312,802,294 $ 346,539,057
============== ============== ============== ==============
(a) WestGas TransColorado, Inc. sold its interest in the TransColorado Project and was subsequently dissolved effective December 1,
1995. The statement of income includes eleven months of operations. Retained earnings have been adjusted and eliminated.
(b) To eliminate intercompany investment, earnings and dividends.
<PAGE>
<CAPTION>
CONSOLIDATING INFORMATION
------------------------------------------------------------------
Cheyenne WestGas
Light, Fuel WestGas Trans-
and Power e prime, InterState, Colorado,
Company inc. Inc. Inc. (a)
------- ---- ---- --------
<S> <C> <C> <C> <C>
OPERATING REVENUES:
Electric $ 36,651,550 $ -- $ -- $ --
Gas 17,530,744 398,931 85,870 --
Other -- 106,340 -- --
----- ------- ------ -----
54,182,294 505,271 85,870 --
OPERATING EXPENSES:
Fuel used in generation -- -- -- --
Purchased power 27,726,915 -- -- --
Gas purchased for resale 11,179,337 383,385 -- --
Other operating expenses 4,814,659 737,710 39,548 --
Maintenance 701,426 -- 880 --
Depreciation and amortization 2,076,301 72,519 26,376 --
Taxes (other than income taxes) 1,385,854 26,069 6,046 --
Income taxes 1,437,665 (271,111) 3,055 (31,638)
--------- -------- ----- -------
49,322,157 948,572 75,905 (31,638)
---------- ------- ------ -------
OPERATING INCOME (LOSS) 4,860,137 (443,301) 9,965 31,638
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 (34,403) 3,176 5,881 (82,344)
------- ----- ----- -------
(34,403) 3,176 5,881 (82,344)
INTEREST CHARGES:
Interest on long-term debt 1,422,504 -- -- --
Amortization of debt discount and
expense less premium 22,275 -- -- --
Other interest 588,156 6 1,025 191
Allowance for borrowed funds used
during construction (44,599) -- -- --
------- ----- ----- -----
1,988,336 6 1,025 191
--------- - ----- ---
NET INCOME (LOSS) 2,837,398 (440,131) 14,821 (50,897)
RETAINED EARNINGS (DEFICIT)
AT BEGINNING OF YEAR 13,813,998 -- 15,657 (4,987)
---------- ------ ------
16,651,396 (440,131) 30,478 (55,884)
DIVIDENDS ON PREFERRED STOCK -- -- -- --
DIVIDENDS ON COMMON STOCK (1,984,044) -- -- --
OTHER ADJUSTMENT -- -- -- 55,884
----- ----- ----- ------
RETAINED EARNINGS (DEFICIT)
AT END OF YEAR $ 14,667,352 $ (440,131) $ 30,478 $ --
============== ============== ============== ===============
<PAGE>
<CAPTION>
----------------------------------------------------------------
Fuel
Resources Young Gas 1480 PSR
Development Storage Welton, Investments,
Co. Company Inc. Inc.
--- ------- ---- ----
<S> <C> <C> <C> <C>
OPERATING REVENUES:
Electric $ -- $ -- $ -- $ --
Gas 1,124,621 -- -- --
Other -- -- 8,238,786 29,962,343
----- ----- --------- ----------
1,124,621 -- 8,238,786 29,962,343
OPERATING EXPENSES:
Fuel used in generation -- -- -- --
Purchased power -- -- -- --
Gas purchased for resale -- -- -- --
Other operating expenses 3,261,893 -- 109,642 971,183
Maintenance -- -- -- --
Depreciation and amortization 647,875 -- 1,442,925 --
Taxes (other than income taxes) 138,954 -- 396,708 (13,079)
Income taxes (3,100,746) 307,794 839,452 (13,283,421)
---------- ------- ------- -----------
947,976 307,794 2,788,727 (12,325,317)
------- ------- --------- -----------
OPERATING INCOME (LOSS) 176,645 (307,794) 5,450,059 42,287,660
OTHER INCOME AND DEDUCTIONS:
Allowance for equity funds used during
construction -- -- -- --
Equity in earnings of consolidated
subsidiaries -- -- -- --
Interest income from subsidiaries -- -- 1,047,836 --
Miscellaneous income (deductions) - net 9,740 838,050 76,292 --
----- ------- ------ -----
9,740 838,050 1,124,128 --
INTEREST CHARGES:
Interest on long-term debt 153 -- 4,735,157 --
Amortization of debt discount and
expense less premium -- -- 95,046 --
Other interest 2,140,378 -- 346,281 34,743,661
Allowance for borrowed funds used
during construction -- -- -- --
----- ----- ----- -----
2,140,531 -- 5,176,484 34,743,661
--------- ----- --------- ----------
NET INCOME (LOSS) (1,954,146) 530,256 1,397,703 7,543,999
RETAINED EARNINGS (DEFICIT)
AT BEGINNING OF YEAR (40,670,660) -- 404,315 2,971,645
----------- ----- ------- ---------
(42,624,806) 530,256 1,802,018 10,515,644
DIVIDENDS ON PREFERRED STOCK -- -- -- --
DIVIDENDS ON COMMON STOCK -- -- -- (10,200,000)
OTHER ADJUSTMENT -- -- -- --
----- ----- ----- -----
RETAINED EARNINGS (DEFICIT)
AT END OF YEAR $ (42,624,806) $ 530,256 $ 1,802,018 $ 315,644
============= ============== =============== ==============
<PAGE>
<CAPTION>
-------------------------------
PS
Colorado Natural
Credit Fuels
Corporation Corporation
----------- -----------
<S> <C> <C>
OPERATING REVENUES:
Electric $ -- $ --
Gas -- 3,649,082
Other 14,048,193 --
---------- -----
14,048,193 3,649,082
OPERATING EXPENSES:
Fuel used in generation -- --
Purchased power -- --
Gas purchased for resale -- 474,179
Other operating expenses 327,401 4,204,425
Maintenance -- --
Depreciation and amortization -- 265,105
Taxes (other than income taxes) 4,236 136,877
Income taxes 1,487,641 (539,369)
--------- --------
1,819,278 4,541,217
--------- ---------
OPERATING INCOME (LOSS) 12,228,915 (892,135)
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 9,847 37,336
----- ------
9,847 37,336
INTEREST CHARGES:
Interest on long-term debt 386,088 11,044
Amortization of debt discount and
expense less premium 7,771 --
Other interest 9,450,874 1,359
Allowance for borrowed funds used
during construction -- --
----- -----
9,844,733 12,403
--------- ------
NET INCOME (LOSS) 2,394,029 (867,202)
RETAINED EARNINGS (DEFICIT)
AT BEGINNING OF YEAR -- (7,150,372)
----- ----------
2,394,029 (8,017,574)
DIVIDENDS ON PREFERRED STOCK -- --
DIVIDENDS ON COMMON STOCK (2,394,029) --
OTHER ADJUSTMENT -- --
----- ----
RETAINED EARNINGS (DEFICIT)
AT END OF YEAR $ -- $ (8,017,574)
============= ==============
</TABLE>
<PAGE>
<TABLE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS WITH CONSOLIDATING INFORMATION
YEAR ENDED DECEMBER 31, 1995
<CAPTION>
----------------------------------------------------------
Public
Service
Company of
Consolidated Eliminations Total Colorado
------------ ------------ ----- --------
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net income (loss) $ 178,856,093 $ 11,405,830 (a) $ 190,261,923 $ 178,856,093
Adjustments to reconcile net income (loss) to net
cash provided by (used in) operating activities:
Depreciation and amortization 145,370,492 -- 145,370,492 140,763,026
Amortization of investment tax credits (5,348,115) -- (5,348,115) (5,209,271)
Deferred income taxes 39,169,644 -- 39,169,644 38,856,142
Allowance for equity funds used during construction (3,781,870) -- (3,781,870) (3,781,870)
Change in accounts receivable 38,733,818 (1,016,564)(b) 37,717,254 7,487,502
Change in inventories 4,245,926 -- 4,245,926 4,714,261
Change in other current assets 7,617,692 -- 7,617,692 4,351,660
Change in accounts payable (20,921,969) (11,049,643)(b) (31,971,612) (28,610,166)
Change in other current liabilities 24,229,775 -- 24,229,775 22,543,914
Change in deferred amounts (20,384,938) 223,962 (b) (20,160,976) (20,381,972)
Change in noncurrent liabilities (5,366,543) 10,757,419 (b) 5,390,876 5,396,638
Other 3,278,743 -- 3,278,743 --
--------- ----- --------- -----
Net cash provided by (used in) operating activities 385,698,748 10,321,004 396,019,752 344,985,957
Construction expenditures (285,515,529) -- (285,515,529) (279,309,717)
Allowance for equity funds used during construction 3,781,870 -- 3,781,870 3,781,870
Proceeds from (cost of) disposition of property,
plant and equipment 2,469,518 -- (c) 2,469,518 2,604,025
Purchase of other investments (10,248,768) (44,207,927)(b)(c) (54,456,695) (47,462,641)
Sale of other investments 4,897,904 44,431,798 (b)(c) 49,329,702 44,181,552
Subsidiary dividends in excess of earnings -- 3,003,030 (a) 3,003,030 3,003,030
----- --------- --------- ---------
Net cash provided by (used in) investing activities (284,615,005) 3,226,901 (281,388,104) (273,201,881)
FINANCING ACTIVITIES:
Proceeds from sale of common stock 28,029,975 44,153,179 72,183,154 28,029,975
Repurchase of common stock -- (43,123,011)(b)(c) (43,123,011) --
Proceeds from sale of long-term notes and bonds 101,859,643 -- 101,859,643 22,079,643
Redemption of long-term notes and bonds (44,712,897) -- (44,712,897) (38,904,269)
Short-term borrowings - net (36,750,000) -- (36,750,000) 66,550,000
Redemption of preferred stock (1,376,000) -- (1,376,000) (1,376,000)
Dividends on common stock (127,351,413) (14,578,073)(a) (141,929,486) (127,351,413)
Dividends on preferred stock (11,973,116) -- (11,973,116) (11,973,116)
----------- ----------- -----------
Net cash provided by (used in) financing activities (92,273,808) (13,547,905) (105,821,713) (62,945,180)
----------- ----------- ------------ -----------
Net increase (decrease) in cash and temporary
cash investments 8,809,935 -- 8,809,935 8,838,896
Cash and temporary cash investments at beginning
of year 5,883,212 -- 5,883,212 1,346,245
--------- ----- --------- ---------
Cash and temporary cash investments at end of year $ 14,693,147 $ -- $ 14,693,147 $ 10,185,141
============ =============== =============== ==============
(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 TransColorado, Inc. sold its interest in the TransColorado Project and was subsequently dissolved
effective December 1, 1995. The statement of cash flows includes eleven months of operations.
<PAGE>
<CAPTION>
CONSOLIDATING INFORMATION
-----------------------------------------------------------------
Cheyenne WestGas
Light, Fuel WestGas Trans-
and Power e prime, InterState, Colorado,
Company inc. Inc. Inc. (d)
------- ---- ---- --------
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net income (loss) $ 2,837,398 $ (440,131) $ 14,821 $ (50,897)
Adjustments to reconcile net income (loss) to net
cash provided by (used in) operating activities:
Depreciation and amortization 2,098,576 72,519 26,376 --
Amortization of investment tax credits (79,985) -- -- --
Deferred income taxes (1,055,325) 3,177 15,847 --
Allowance for equity funds used during construction -- -- --
Change in accounts receivable (328,340) (246,577) 7,957 4,844
Change in inventories 14,978 -- -- --
Change in other current assets 2,810,711 (3,072) 652 --
Change in accounts payable 423,258 259,353 -- (213,434)
Change in other current liabilities 1,272,224 57,341 474 (502)
Change in deferred amounts (483,341) -- -- 1,840
Change in noncurrent liabilities 179,897 -- -- --
Other -- -- -- (620)
----- ----- ----- ----
Net cash provided by (used in) operating activities 7,690,051 (297,390) 66,127 (258,769)
Construction expenditures (5,067,430) (645,801) -- --
Allowance for equity funds used during construction -- -- --
Proceeds from (cost of) disposition of property, plant
and equipment (131,311) -- -- --
Purchase of other investments (75,740) -- -- (200,000)
Sale of other investments -- -- -- 3,802,885
Subsidiary dividends in excess of earnings -- -- -- --
----- ----- ----- -----
Net cash provided by (used in) investing activities (5,274,481) (645,801) -- 3,602,885
Proceeds from sale of common stock -- 1,098,835 -- --
Repurchase of common stock -- -- -- (3,344,116)
Proceeds from sale of long-term notes and bonds -- -- -- --
Redemption of long-term notes and bonds -- -- -- --
Short-term borrowings - net 200,000 -- -- --
Redemption of preferred stock -- -- -- --
Dividends on common stock (1,984,044) -- -- --
Dividends on preferred stock -- -- -- --
------ ----- ----- ------
Net cash provided by (used in) financing activities (1,784,044) 1,098,835 -- (3,344,116)
---------- --------- ----- ----------
Net increase (decrease) in cash and temporary
cash investments 631,526 155,644 66,127 --
Cash and temporary cash investments at beginning
of year 1,143,434 -- 49,851 --
--------- ----- ------ -----
Cash and temporary cash investments at end of year $ 1,774,960 $ 155,644 $ 115,978 $ --
=============== =============== =============== ==============
<PAGE>
<CAPTION>
--------------------------------------------------------------
Fuel
Resources Young Gas 1480 PSR
Development Storage Welton, Investments,
Co. Company Inc. Inc.
--- ------- ---- ----
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES:
Net income (loss) $ (1,954,146) $ 530,256 $ 1,397,703 $ 7,543,999
Adjustments to reconcile net income (loss) to net cash
provided by (used in) operating activities:
Depreciation and amortization 599,148 -- 1,537,971 --
Amortization of investment tax credits -- -- (58,859) --
Deferred income taxes (379,393) -- 727,614 820,554
Allowance for equity funds used during construction -- -- -- --
Change in accounts receivable 1,094,231 (9,250) (679,833) 2,757,082
Change in inventories 1 -- -- --
Change in other current assets (10,023) -- 6,097 237,826
Change in accounts payable (6,671,167) 260,832 (283,161) 22,368
Change in other current liabilities 122,770 78,794 (123,284) (55,929)
Change in deferred amounts 581,589 (20,375) 1 20
Change in noncurrent liabilities (185,659) -- -- --
Other 4,007,575 (840,257) -- --
--------- -------- ----- -----
Net cash provided by (used in) operating activities (2,795,074) -- 2,524,249 11,325,920
INVESTING ACTIVITIES:
Construction expenditures (397,791) -- -- --
Allowance for equity funds used during construction -- -- -- --
Proceeds from (cost of) disposition of property, plant
and equipment -- -- 1,001 --
Purchase of other investments -- (6,316,876) -- (387,880)
Sale of other investments 1,344,181 -- -- --
Subsidiary dividends in excess of earnings -- -- -- --
----- ----- ----- ------
Net cash provided by (used in) investing activities 946,390 (6,316,876) 1,001 (387,880)
FINANCING ACTIVITIES:
Proceeds from sale of common stock -- 6,316,876 -- --
Repurchase of common stock -- -- -- --
Proceeds from sale of long-term notes and bonds -- -- -- --
Redemption of long-term notes and bonds (12,894) -- (5,749,494) --
Short-term borrowings - net 1,900,000 -- 1,850,000 --
Redemption of preferred stock -- -- -- --
Dividends on common stock -- -- -- (10,200,000)
Dividends on preferred stock -- -- -- --
----- ----- ----- -----
Net cash provided by (used in) financing activities 1,887,106 6,316,876 (3,899,494) (10,200,000)
--------- --------- ---------- -----------
Net increase (decrease) in cash and temporary
cash investments 38,422 -- (1,374,244) 738,040
Cash and temporary cash investments at beginning
of year (200) -- 1,400,172 14,523
---- --------- ------
Cash and temporary cash investments at end of year $ 38,222 $ -- $ 25,928 $ 752,563
============== =============== =============== ==============
<PAGE>
<CAPTION>
--------------------------------------------------------------
PS
Colorado Natural
Credit Fuels
Corporation Corporation
----------- -----------
<S> <C> <C>
OPERATING ACTIVITIES:
Net income (loss) $ 2,394,029 $ (867,202)
Adjustments to reconcile net income (loss) to net
cash provided by (used in) operating activities:
Depreciation and amortization 7,771 265,105
Amortization of investment tax credits -- --
Deferred income taxes 24 181,004
Allowance for equity funds used during construction -- --
Change in accounts receivable 27,322,571 307,067
Change in inventories -- (483,314)
Change in other current assets 216,249 7,592
Change in accounts payable 2,588,685 251,820
Change in other current liabilities 409,478 (75,505)
Change in deferred amounts (12,321) 153,583
Change in noncurrent liabilities -- --
Other -- 112,045
----- -------
Net cash provided by (used in) operating activities 32,926,486 (147,805)
INVESTING ACTIVITIES:
Construction expenditures -- (94,790)
Allowance for equity funds used during construction -- --
Proceeds from (cost of) disposition of property, plant
and equipment -- (4,197)
Purchase of other investments -- (13,558)
Sale of other investments -- 1,084
Subsidiary dividends in excess of earnings -- --
----- -----
Net cash provided by (used in) investing activities -- (111,461)
FINANCING ACTIVITIES:
Proceeds from sale of common stock 36,737,468 --
Repurchase of common stock (38,778,895) --
Proceeds from sale of long-term notes and bonds 79,780,000 --
Redemption of long-term notes and bonds -- (46,240)
Short-term borrowings - net (107,250,000) --
Redemption of preferred stock -- --
Dividends on common stock (2,394,029) --
Dividends on preferred stock -- --
----- -----
Net cash provided by (used in) financing activities (32,905,456) (46,240)
----------- -------
Net increase (decrease) in cash and temporary
cash investments 21,030 (305,506)
Cash and temporary cash investments at beginning
of year 15,839 1,913,348
------ ---------
Cash and temporary cash investments at end of year $ 38,869 $ 1,607,842
============== ===============
</TABLE>
<PAGE>
<TABLE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATING ELIMINATIONS FOR THE BALANCE SHEET AND
STATEMENT OF INCOME AND RETAINED EARNINGS
DECEMBER 31, 1995
<CAPTION>
DEBIT CREDIT
----- ------
<S> <C> <C>
(1)
Common stock of subsidiaries $ 86,556,978
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) 1995 subsidiary earnings of
$11,575,041 attributable to parent; (b) a 1995 subsidiary loss
of $169,211 attributable to minority interest; and (c) ($69,139)
of subsidiaries retained earnings at dates of acquisition $ 33,736,763
Investment in consolidated subsidiaries 51,910,497
Other deferred credits (minority interest in Natural Fuels
Corporation) 917,429
To eliminate investment in consolidated subsidiaries.
(2)
Accounts payable to associated companies $ 42,434,271
Other noncurrent liabilities 3,078,466
Note payable to associated company 12,066,207
Accounts receivable from associated companies $ 6,709,782
Note receivable from associated company 12,066,207
Other investments 3,078,466
Fuel inventory financed 35,724,489
To eliminate intercompany accounts, as follows:
<CAPTION>
Current
Payable by: Accounts Receivable by:
- ----------- -------- --------------
<S> <C> <C>
Cheyenne Light, Fuel and Power Company $ 1,102,930
PSR Investments, Inc. 22,368
Natural Fuels Corporation 129,446
e prime, inc. 21,953
Young Gas Storage Company 260,832
-------
1,537,529 Public Service Company of Colorado
682,884 1480 Welton, Inc.
Public Service Company of Colorado 11,058 WestGas InterState, Inc.
Public Service Company of Colorado 4,478,311 Fuel Resources Development Co.
---------
$ 6,709,782
==============
Note
Receivable
----------
Public Service Company of Colorado $ 12,066,207 1480 Welton, Inc.
==============
Long-Term
Income Tax
Receivable
----------
Public Service Company of Colorado $ 3,078,466 Fuel Resources Development Co.
=============
Fuel
Inventory
Financed
--------
Public Service Company of Colorado $ 35,724,489 PS Colorado Credit Corporation
===============
PS Colorado Credit Corporation $ 2,588,685 Public Service Company of Colorado
=============== netted against payable to PS
Colorado Credit Corporation
</TABLE>
<PAGE>
<TABLE>
PUBLIC SERVICE COMPANY OF COLORADO AND SUBSIDIARIES
CONSOLIDATING ELIMINATIONS FOR THE BALANCE SHEET AND
STATEMENT OF INCOME AND RETAINED EARNINGS (Continued)
DECEMBER 31, 1995
<CAPTION>
DEBIT CREDIT
----- ------
<S> <C> <C>
(3)
Operating revenues - gas $ 418,139
Operating revenues - other 22,117,045
Miscellaneous income and deductions - net 126,426
Gas purchased for resale $ 156,329
Other operating expenses 19,852,248
Interest charges - other interest 2,653,033
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 $ 87,970 $ 87,970 $ -- $ --
Gas transportation fee charged by WestGas InterState,
Inc. to Cheyenne Light, Fuel and Power Company 19,775 19,775 -- --
Gas transportation fee charged by Public Service Company
of Colorado to Natural Fuels Corporation 47,222 47,222 -- --
Natural Fuels Corporation sales to Public Service
Company of Colorado for station maintenance and other 233,172 1,362 231,810 --
Administrative and operating fee charged by Public Service
Company of Colorado to WestGas InterState, Inc. 30,000 -- 30,000 --
------ ----- ------ -----
418,139 156,329 261,810 --
------- ------- ------- -----
Other Operating Revenues:
Rent charged by 1480 Welton, Inc. to Public Service
Company of Colorado 8,068,852 -- 8,068,852 --
Customer receivables discount charged by PS Colorado
Credit Corporation to Public Service Company of Colorado 11,395,160 -- 11,395,160 --
Fuel inventory financing costs charged by PS Colorado
Credit Corporation to Public Service Company of Colorado 2,653,033 -- -- 2,653,033
--------- ---------
$22,117,045 -- 19,464,012 2,653,033
----------- ---------- ---------
Miscellaneous Income and Deductions - net:
Market development costs from Public Service Company
of Colorado to Natural Fuels Corporation 126,426 -- 126,426 --
------- -------
$22,661,610 $ 156,329 $19,852,248 $2,653,033
=========== ============ =========== ==========
(4)
Interest income from subsidiaries $ 1,124,355
Interest charges - other interest $ 1,124,355
To eliminate intercompany interest income and expense as follows:
Interest charges recorded by:
Public Service Company of Colorado 1,047,836
Cheyenne Light, Fuel and Power Company 59,332
PSR Investments, Inc. 15,842
1480 Welton, Inc. 1,345
-----
$ 1,124,355
===========
Interest income recorded by:
Public Service Company of Colorado $ 76,519
1480 Welton, Inc. 1,047,836
=========
$ 1,124,355
===========
</TABLE>
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