<PAGE>
File No. 70-8711
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 4
TO
FORM U-1 APPLICATION
UNDER THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
_______________________________________________
PUBLIC SERVICE COMPANY OF OKLAHOMA
212 East 6th Street
Tulsa, Oklahoma 74119-1212
(Names of company filing this statement and
address of principal executive office)
___________________________________________________
CENTRAL AND SOUTH WEST CORPORATION
(Name of top registered holding company parent)
___________________________________________________
Shirley S. Briones, Treasurer
Public Service Company of Oklahoma
212 East 6th Street
Tulsa, Oklahoma 74119-1212
Stephen J. McDonnell, Treasurer
Central and South West Corporation
1616 Woodall Rodgers Freeway
Dallas, Texas 75202
Joris M. Hogan, Esq.
Milbank, Tweed, Hadley & McCloy
1 Chase Manhattan Plaza
New York, New York 10005
(Name and addresses of agents for service)
Public Service Company of Oklahoma, an Oklahoma corporation (the
"Company"), a wholly-owned electric utility subsidiary of Central and South
West Corporation ("CSW"), a Delaware corporation and a registered holding
company under the Public Utility Holding Company Act of 1935, as amended (the
"Act"), hereby files this Amendment No. 4 to the Form U-1 Application-
Declaration in File No. 70-8711 for the purpose of amending Item 6 in the
following respects. In all other respects the Application-Declaration as
previously filed and amended will remain the same.
Item 6. Exhibits and Financial Statements.
Item 6 is hereby amended to file the following exhibit:
Exhibit 4 - Financial Statements of Public Service Company of Oklahoma, as of
September 30, 1995.
<PAGE>
INDEX OF EXHIBITS
EXHIBIT TRANSMISSION
NUMBER EXHIBITS METHOD
- ------- -------- ------------
4 Financial Statements of Public Electronic
Service Company of Oklahoma, as of
September 30, 1995.
S I G N A T U R E
- - - - - - - - -
Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, as amended, the undersigned company has duly caused this document to
be signed on its behalf by the undersigned thereunto duly authorized.
Dated: December 13, 1995
PUBLIC SERVICE COMPANY
OF OKLAHOMA
By: /s/SHIRLEY S. BRIONES
Shirley S. Briones
Treasurer
<PAGE> 1
<PAGE> 1
INDEX EXHIBIT 4
TO
FINANCIAL STATEMENTS Page
Number
CENTRAL AND SOUTH WEST CORPORATION AND SUBSIDIARY COMPANIES
Consolidated Balance Sheets - Per Books and Pro Forma
as of September 30, 1995 2 - 3
Consolidated Statement of Income for the Twelve Months Ended
September 30, 1995 4
Consolidated Statement of Retained Earnings for the Twelve
Months Ended September 30, 1995 5
Statements of Long-Term Debt Outstanding as of September 30,
1995 6 - 9
Statements of Preferred Stock Outstanding as of September 30,
1995 10
CENTRAL AND SOUTH WEST CORPORATION (CORPORATE)
Balance Sheets - Per Books and Pro Forma as of September 30,
1995 11
Statement of Income for the Twelve Months Ended September 30,
1995 12
PUBLIC SERVICE COMPANY OF OKLAHOMA
Balance Sheets - Per Books and Pro Forma as of September 30,
1995 13 - 14
Statement of Income for the Twelve Months Ended September 30,
1995 15
Statement of Retained Earnings for the Twelve Months Ended
September 30, 1995 16
PRO FORMA ADJUSTMENTS TO BALANCE SHEETS 17
STATEMENT OF CHANGES 18
CAPITALIZATION RATIOS - Per books and Pro forma 19
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 20
<PAGE> 2
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
CONSOLIDATED BALANCE SHEETS
PER BOOKS AND PRO FORMA
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Millions)
<TABLE>
<CAPTION>
Per Pro Forma Pro
Books Adjustments Forma
-------- -------- --------
<S> <C> <C> <C>
ASSETS
PLANT
Electric utility
Production $5,851 $5,851
Transmission 1,442 1,442
Distribution 2,641 2,641
General 807 807
Construction work in progress 441 (1.5) 440
Nuclear fuel 164 164
Gas 840 840
Other diversified 17 17
-------- -------- --------
12,203 (1.5) 12,202
Less - Accumulated depreciation 4,146 4,146
-------- -------- --------
8,057 (1.5) 8,056
-------- -------- --------
CURRENT ASSETS
Cash and temporary cash investments 61 61
Accounts receivable 1,006 1,006
Materials and supplies, at average cost 169 169
Electric fuel inventory, substantially at
average cost 133 133
Gas inventory/products for resale 28 28
Accumulated deferred income taxes 34 34
Prepayments and other 52 52
-------- -------- --------
1,483 1,483
-------- -------- --------
DEFERRED CHARGES AND OTHER ASSETS
Deferred plant costs 515 515
Mirror CWIP asset - net 314 314
Other non-utility investments 328 3.5 332
Income tax related regulatory assets, net 278 278
Other 321 321
-------- -------- --------
1,756 3.5 1,760
-------- -------- --------
$11,296 2.0 $11,298
======== ======== ========
</TABLE>
<PAGE> 3
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
CONSOLIDATED BALANCE SHEETS
PER BOOKS AND PRO FORMA
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Millions)
<TABLE>
Per Pro Forma Pro
<CAPTION> Books Adjustments Forma
-------- -------- --------
<S> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
CAPITALIZATION
Common Stock Equity -
Common stock, $3.50 par value,
authorized 350,000,000 shares;
issued and outstanding 192,300,000
shares $673 $673
Paid-in capital 597 597
Retained earnings 1,914 1,914
-------- -------- --------
Total Common Stock Equity 3,184 3,184
Preferred stock
Not subject to mandatory redemption 292 292
Subject to mandatory redemption 34 34
Long-term debt 3,001 3,001
-------- -------- --------
Total Capitalization 6,511 6,511
-------- -------- --------
CURRENT LIABILITIES
Long-term debt/preferred stock
due within twelve months 32 32
Short-term debt 758 2.0 760
Short-term debt - CSW Credit 786 786
Accounts payable 253 253
Accrued taxes 167 167
Accrued interest 70 70
Refund due customers 22 22
Over-recovered fuel costs 35 35
Other 124 124
-------- -------- --------
2,247 2.0 2,249
-------- -------- --------
DEFERRED CREDITS
Income taxes 2,111 2,111
Investment tax credits 309 309
Mirror CWIP liability and other 118 118
-------- -------- --------
2,538 2,538
-------- -------- --------
$11,296 2.0 $11,298
======== ======== ========
</TABLE>
<PAGE> 4
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENT OF INCOME
FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 1995
UNAUDITED
(Millions)
OPERATING REVENUES $3,456
--------
OPERATING EXPENSES AND TAXES
Fuel and purchased power 1,040
Gas purchased for resale 277
Gas extraction and marketing 110
Other operating 536
Charges for terminated merger 42
Maintenance 165
Depreciation and amortization 372
Taxes, other than federal income 184
Federal income taxes 93
--------
2,819
--------
OPERATING INCOME 637
--------
OTHER INCOME AND DEDUCTIONS
Mirror CWIP liability amortization 48
Other 63
--------
111
INCOME BEFORE INTEREST CHARGES 748
--------
INTEREST CHARGES
Interest on long-term debt 227
Interest on short-term debt and other 99
--------
326
--------
NET INCOME 422
Preferred stock dividends 18
--------
NET INCOME FOR COMMON STOCK $404
========
<PAGE> 5
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 1995
UNAUDITED
(Millions)
RETAINED EARNINGS AT SEPTEMBER 30, 1994 $1,841
Add: Net income for common stock 404
--------
2,245
Deduct: Common stock dividends 328
True-up of prior period liability 3
--------
RETAINED EARNINGS AT SEPTEMBER 30, 1995 $1,914
========
<PAGE> 6
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
STATEMENT OF LONG-TERM DEBT OUTSTANDING
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Millions)
CENTRAL POWER AND LIGHT COMPANY
First mortgage bonds -
Series J, 6-5/8%, due January 1, 1998 28
Series L, 7%, due February 1, 2001 36
Series T, 7-1/2%, due December 15, 2014 112
Series AA, 7-1/2%, due March 1, 2020 50
Series BB, 6%, due October 1, 1997 200
Series CC, 7-1/4%, due October 1, 2004 100
Series DD, 7-1/8%, due December 1, 1999 25
Series EE, 7-1/2%, due December 1, 2002 115
Series FF, 6-7/8%, due February 1, 2003 50
Series GG, 7-1/8%, due February 1, 2008 75
Series HH, 6%, due April 1, 2000 100
Series II, 7-1/2%, due April 1, 2023 100
Series JJ, 7-1/2%, due May 1, 1999 100
Series KK, 6-5/8%, due July 1, 2005 200
Installment sales agreements -
Pollution control bonds
Series 1974 7-1/8%, due June 1, 2004 8
Series 1977 6%, due November 1, 2007 34
Series 1984 7-7/8%, due September 15, 2014 6
Series 1986 7-7/8%, due December 1, 2016 60
Series 1993 6%, due July 1, 2028 120
Series 1995 6-1/10%, due July 28, 2028 101
Unamortized discount (6)
Unamortized costs of reacquired debt (97)
Amount to be redeemed within one year 1
--------
$1,518
--------
<PAGE> 7
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
STATEMENT OF LONG-TERM DEBT OUTSTANDING (Continued)
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Millions)
PUBLIC SERVICE COMPANY OF OKLAHOMA
First mortgage bonds -
Series J, 5-1/4%, due March 1, 1996 $25
Series K, 7-1/4%, due January 1, 1999 25
Series L, 7-3/8%, due March 1, 2002 30
Series S, 7-1/4%, due July 1, 2003 65
Series T, 7-3/8%, due December 1, 2004 50
Series U, 6-1/4%, due April 1, 2003 35
Series V, 7-3/8%, due April 1, 2023 100
Series W, 6-1/2%, due June 1, 2005 50
Installment sales agreements -
Pollution control bonds
Series A, 5.9%, due December 1, 2007 35
Series 1984 7-7/8, due December 15, 2014 13
Unamortized discount (5)
Unamortized costs of reacquired debt (19)
Amount to be redeemed within one year (25)
--------
$379
--------
<PAGE> 8
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
STATEMENT OF LONG-TERM DEBT OUTSTANDING (Continued)
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Millions)
SOUTHWESTERN ELECTRIC POWER COMPANY
First mortgage bonds -
Series V, 7-3/4%, due June 1, 2004 $40
Series W, 6-1/8%, due December 1, 1999 40
Series X, 7%, due September 1, 2007 90
Series Y, 6-5/8%, due February 1, 2003 55
Series Z, 7-1/4%, due July 1, 2023 45
Series AA, 5-1/4%, due April 1, 2000 45
Series BB, 6-7/8%, due October 1, 2025 80
1976 Series A, 6.2%, due November 1, 2006 7
1976 Series B, 6.2%, due November 1, 2006 1
Installment sales agreements -
Pollution control bonds
1978 Series A, 6%, due January 1, 2008 14
Series 1986, 8.2%, due July 1, 2014 82
1991 Series A, 8.2%, due August 1, 2011 17
1991 Series B, 6.9%, due November 1, 2004 12
Series 1992, 7.6%, due January 1, 2019 54
Bank loan, variable rate, due June 15, 2000 50
Railcar lease obligations 14
Unamortized discount and premium (3)
Unamortized costs of reacquired debt (44)
Amount to be redeemed within one year (4)
--------
$595
--------
WEST TEXAS UTILITIES COMPANY
First mortgage bonds -
Series 0, 9-1/4%, due December 1, 2019 $53
Series P, 7-3/4%, due July 1, 2007 25
Series Q, 6-7/8%, due October 1, 2002 35
Series R, 7%, due October 1, 2004 40
Series S, 6-1/8%, due February 1, 2004 40
Series T, 7-1/2%, due April 1, 2000 40
Installment sales agreement -
Pollution control bonds
Series 1984, 7-7/8%, due September 15, 2014 44
Unamortized discount and premium (1)
Unamortized costs of reacquired debt (26)
Amount to be redeemed within one year (1)
--------
$249
--------
<PAGE> 9
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
STATEMENT OF LONG-TERM DEBT OUTSTANDING (Continued)
AS OF SEPTEMBER 30, 1995
UNAUDITED
(millions)
TRANSOK, INC.
Note payable, 8.960%, due April 17, 2017 $15
Note payable, 8.280%, due April 16, 2007 3
Note payable, 8.130%, due April 16, 2002 3
Note payable, 8.125%, due April 22, 2002 17
Note payable, 8.900%, due May 21, 2012 5
Note payable, 7.810%, due May 20, 1999 3
Note payable, 8.250%, due May 20, 2004 1
Note payable, 8.170%, due May 22, 2003 2
Note payable, 7.750%, due May 21, 1999 5
Note payable, 8.170%, due May 28, 2004 2
Note payable, 8.280%, due June 3, 2003 4
Note payable, 8.340%, due June 2, 2004 2
Note payable, 8.350%, due August 27, 2012 5
Note payable, 7.350%, due August 26, 2002 5
Note payable, 7.330%, due August 26, 2002 1
Note payable, 7.320%, due August 28, 2002 14
Note payable, 6.750%, due December 1, 1999 15
Note payable, 7.800%, due March 1, 2004 10
Note payable, 7.770%, due March 1, 2004 3
Note payable, 7.780%, due December 15, 2004 2
Note payable, 7.730%, due December 15, 2004 1
Note payable, 7.670%, due March 1, 2004 1
Note payable, 7.650%, due May 15, 2002 5
Note payable, 7.650%, due May 15, 2002 5
Note payable, 7.650%, due December 23, 2003 11
Note payable, 6.850%, due March 18, 2005 1
Note payable, 6.850%, due March 18, 2005 1
Note payable, 6.900%, due March 1, 2005 6
Note payable, 6.990%, due March 24, 2005 5
Note payable, 6.860%, due March 28, 2005 12
Note payable, 7.750%, due April 24, 2023 10
Note payable, 6.840%, due April 25, 2005 3
Note payable, 7.750%, due April 26, 2023 5
Note payable, 6.810%, due April 26, 2003 7
Note payable, 6.600%, due April 29, 2003 2
Note payable, 6.710%, due April 30, 2004 1
Note payable, 6.930%, due May 5, 2005 1
Note payable, 7.070%, due May 5, 2008 1
Note payable, 7.000%, due January 12, 2004 5
--------
$200
CENTRAL AND SOUTH WEST SERVICES, INC. --------
Term loan facility, Variable rate, due
December 1, 2001 60
--------
$60
--------
TOTAL CONSOLIDATED $3,001
========
<PAGE> 10
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
STATEMENT OF PREFERRED STOCK OUTSTANDING
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Millions)
NOT SUBJECT TO MANDATORY REDEMPTION
CENTRAL POWER AND LIGHT COMPANY
4.00% Series, 100,000 shares $10
4.20% Series, 75,000 shares 8
7.12% Series, 260,000 shares 26
8.72% Series, 500,000 shares 50
Auction Money Market, 750,000 shares 75
Auction Series A, 425,000 shares 42
Auction Series B, 425,000 shares 42
Issuance expense (3)
--------
$250
--------
PUBLIC SERVICE COMPANY OF OKLAHOMA
4.00% Series, 97,900 shares $10
4.24% Series, 100,000 shares 10
--------
$20
--------
SOUTHWESTERN ELECTRIC POWER COMPANY
5.00% Series, 75,000 shares $8
4.65% Series, 25,000 shares 2
4.28% Series, 60,000 shares 6
--------
$16
--------
WEST TEXAS UTILITIES COMPANY
4.40% Series, 60,000 shares 6
--------
Total Consolidated $292
========
SUBJECT TO MANDATORY REDEMPTION
SOUTHWESTERN ELECTRIC POWER COMPANY
6.95% Series, 364,000 shares $36
Amount to be redeemed within one year (2)
--------
Total Consolidated $34
========
<PAGE> 11
CENTRAL AND SOUTH WEST CORPORATION (CORPORATE)
BALANCE SHEETS
PER BOOKS AND PRO FORMA
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Millions)
<TABLE>
Per Pro Forma Pro
Books Adjustments Forma
-------- -------- --------
<CAPTION>
<S> <C> <C> <C>
ASSETS
Electric Utility
General $4 $4
Less - Accumulated depreciation (1) (1)
-------- -------- --------
NET PLANT 3 3
INVESTMENTS IN COMMON STOCK
OF SUBSIDIARY COMPANIES (at equity) 3,396 3,396
-------- -------- --------
CURRENT ASSETS
Cash and temporary cash investments 28 28
Advances to affiliates 323 2.0 325
Accounts receivable - Affiliated 199 199
Prepayments and other 13 13
-------- -------- --------
563 2.0 565
-------- -------- --------
DEFERRED CHARGES AND OTHER ASSETS 50 50
-------- -------- --------
$4,012 $2.0 $4,014
======== ======== ========
COMMON STOCK EQUITY
Common stock, $3.50 par value;
authorized 350,000,000 shares;
issued and outstanding 192,300,000
shares $673 $673
Paid-in capital 597 597
Retained earnings 1,914 1,914
-------- -------- --------
Total capitalization 3,184 3,184
-------- -------- --------
CURRENT LIABILITIES
Short-term debt 758 2.0 760
Accounts payable and other 40 40
-------- -------- --------
798 2.0 800
-------- -------- --------
DEFERRED CREDITS 30 30
-------- -------- --------
$4,012 $2.0 $4,014
======== ======== ========
</TABLE>
<PAGE> 12
CENTRAL AND SOUTH WEST CORPORATION (CORPORATE)
STATEMENT OF INCOME
FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 1995
UNAUDITED
(Millions)
INCOME
Equity in earnings of subsidiaries
Central Power and Light Company $195
Public Service Company of Oklahoma 86
Southwestern Electric Power Company 122
West Texas Utilities Company 38
Transok, Inc. 25
CSW Credit, Inc. 7
CSW Energy, Inc. 8
CSW Leasing, Inc. 1
CSW International, Inc. (3)
CSW Communications, Inc. (1)
Central and South West Services, Inc. 0
Other Income 40
--------
$518
--------
EXPENSES AND TAXES
General and administrative expenses 81
Interest expense 51
Federal income taxes (20)
Other 2
--------
114
--------
NET INCOME $404
========
<PAGE> 13
PUBLIC SERVICE COMPANY OF OKLAHOMA
BALANCE SHEETS
PER BOOKS AND PRO FORMA
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Thousands)
<TABLE>
<CAPTION> Per Pro Forma Pro
Books Adjustments Forma
-------- -------- --------
<S> <C> <C> <C>
ASSETS
ELECTRIC UTILITY PLANT
Production $925,006 $925,006
Transmission 358,514 358,514
Distribution 699,033 699,033
General 162,067 162,067
Construction work in progress 84,045 (1,500) 82,545
--------- -------- ---------
2,228,665 (1,500) 2,227,165
Less - Accumulated depreciation 909,731 909,731
--------- -------- ---------
1,318,934 (1,500) 1,317,434
--------- -------- ---------
CURRENT ASSETS
Cash and temporary cash investments 3,097 3,097
Accounts receivable 18,864 18,864
Materials and supplies, at average cost 41,713 41,713
Fuel inventory, at LIFO cost 26,464 26,464
Accumulated deferred income taxes 7,125 7,125
Prepayments 1,865 1,865
--------- -------- ---------
99,128 99,128
--------- -------- ---------
DEFERRED CHARGES AND OTHER ASSETS 57,687 3,500 61,187
--------- -------- ---------
$1,475,749 $2,000 $1,477,749
========= ======== =========
<PAGE> 14
PUBLIC SERVICE COMPANY OF OKLAHOMA
BALANCE SHEETS
PER BOOKS AND PRO FORMA
AS OF SEPTEMBER 30, 1995
UNAUDITED
(Thousands)
Per Pro Forma Pro
Books Adjustments Forma
-------- -------- --------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION
Common stock, $15 par value;
authorized 11,000,000 shares;
issued 10,482,000 shares;
outstanding 9,013,000 shares $157,230 $157,230
Paid-in capital 180,000 180,000
Retained earnings 162,300 162,300
--------- -------- ---------
Total common stock equity 499,530 499,530
Preferred stock 19,826 19,826
Long-term debt 378,876 378,876
--------- -------- ---------
Total capitalization 898,232 898,232
--------- -------- ---------
CURRENT LIABILITIES
Long-term debt due within twelve months 25,000 25,000
Advances from affiliates 43,308 2,000 45,308
Payable to affiliates 17,613 17,613
Accounts payable 31,616 31,616
Payables to customers 24,289 24,289
Accrued taxes 40,054 40,054
Accrued interest 10,618 10,618
Other 16,732 16,732
--------- -------- ---------
209,230 2,000 211,230
--------- -------- ---------
DEFERRED CREDITS
Income taxes 283,028 283,028
Investment tax credits 46,919 46,919
Income tax related regulatory
liabilities, net 16,685 16,685
Other 21,655 21,655
--------- -------- ---------
368,287 0 368,287
--------- -------- ---------
$1,475,749 $2,000 $1,477,749
========= ======== =========
</TABLE>
<PAGE> 15
PUBLIC SERVICE COMPANY OF OKLAHOMA
STATEMENT OF INCOME
FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 1995
UNAUDITED
(Thousands)
ELECTRIC OPERATING REVENUE $704,194
--------
OPERATING EXPENSES AND TAXES
Fuel 279,560
Purchased power 23,427
Other operating 113,542
Maintenance 40,906
Depreciation and amortization 66,390
Taxes, other than federal income 30,988
Federal income taxes 34,813
--------
589,626
--------
OPERATING INCOME 114,568
--------
OTHER INCOME AND DEDUCTIONS
Allowance for equity funds used during
construction 1,884
Other 2,777
--------
4,661
--------
INCOME BEFORE INTEREST CHARGES 119,229
--------
INTEREST CHARGES
Interest on long-term debt 29,594
Interest on short-term debt and other 2,962
--------
32,556
--------
NET INCOME 86,673
PREFERRED STOCK DIVIDENDS 816
--------
NET INCOME FOR COMMON STOCK $85,857
========
<PAGE> 16
PUBLIC SERVICE COMPANY OF OKLAHOMA
STATEMENT OF RETAINED EARNINGS
FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 1995
UNAUDITED
(Thousands)
RETAINED EARNINGS AT SEPTEMBER 30, 1994 $130,443
Add: Net income (loss) for common stock 85,857
--------
216,300
Deduct: Common stock dividends 54,000
--------
RETAINED EARNINGS AT SEPTEMBER 30, 1995 $162,300
========
<PAGE> 17
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
PRO FORMA ADJUSTMENTS TO BALANCE SHEETS
SEPTEMBER 30, 1995
UNAUDITED
DR CR
-------- --------
CENTRAL AND SOUTH WEST CORPORATION AND SUBSIDIARY
COMPANIES
(Millions)
Other non-utility investments (Non-Utility Plant
in Service) 1.2
Other non-utility investments (Notes Receivable) 2.3
Construction work in process 1.5
Short-term debt 2.0
(To record transaction on consolidated basis)
CENTRAL AND SOUTH WEST CORPORATION (CORPORATE)
(Millions)
Cash and temporary cash investments 2.0
Short-term debt 2.0
(Borrowing by CORP)
Advances to affiliates 2.0
Cash and temporary cash investments 2.0
(Money loaned to PSO)
PUBLIC SERVICE COMPANY OF OKLAHOMA
(Thousands)
Cash and temporary cash investments 2,000
Advances from Affiliates 2,000
(Cash borrowed from CORP)
Deferred Charges and Other Assets (Non-Utility
Plant in Service) 750
Construction work in process 750
(Convert amount paid to RIKA for development of
software previously recorded as an asset into an
equity contribution)
Deferred Charges and Other Assets (Non-Utility Plant
in Service) 450
Cash and temporary cash investments 450
(To record a capital contribution to Universal)
Deferred Charges and Other Assets (Notes Receivable) 2,300
Construction work in process 750
Cash and temporary cash investments 1,550
(To record loan to RIKA, distribute cash, and convert
previous cash distribution to RIKA, recorded as an
asset, into an advance against the loan)
Note: As of September 30, 1995, 1.5 million has been borrowed by CORP,
advanced to PSO and spent. PSO recorded the expenditures as an
asset pending SEC approval of equity investment.
<PAGE> 18
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
There have been no significant changes in the financial statements of
Central and South West Corporation and subsidiary companies subsequent to
September 30, 1995, other than in the ordinary course of business, except
for the SEEBOARD Tender Offer. See CSW Combined Quarterly Report on Form
10-Q for the quarter ended September 30, 1995.
<PAGE> 19
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
CAPITALIZATION RATIOS
PER BOOKS AND PRO FORMA
AS OF SEPTEMBER 30, 1995
<TABLE>
<CAPTION>
Common
Stock Preferred Long-term
Equity Stock Debt
-------- -------- --------
<S> <C> <C> <C>
Central and South West Corporation
and Subsidiary Companies
(Consolidated) Per books 48.9% 5.0% 46.1%
Central and South West Corporation
and Subsidiary Companies
(Consolidated) Pro forma 48.9% 5.0% 46.1%
Central and South West Corporation
(Corporate)
Per books 100.0% 0.0% 0.0%
Central and South West Corporation
(Corporate)
Pro forma 100.0% 0.0% 0.0%
Public Service Company of Oklahoma
Per books 55.6% 2.2% 42.2%
Public Service Company of Oklahoma
Pro forma 55.6% 2.2% 42.2%
</TABLE>
<PAGE> 20
CENTRAL AND SOUTH WEST CORPORATION
AND SUBSIDIARY COMPANIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The notes to consolidated financial statements included in Central
and South West Corporation's 1994 Annual Report on Form 10-K are hereby
incorporated by reference and made a part of this report.
Page
Reference
1994 Annual Report on Form 10-K pages 2-31 through 2-66
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 001
<NAME> CSW CONSOLIDATED
<MULTIPLIER> 1,000,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1995
<PERIOD-END> SEP-30-1995 SEP-30-1995
<BOOK-VALUE> PER-BOOK PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 7,433 7,432
<OTHER-PROPERTY-AND-INVEST> 624 624
<TOTAL-CURRENT-ASSETS> 1,483 1,483
<TOTAL-DEFERRED-CHARGES> 515 515
<OTHER-ASSETS> 1,241 1,245
<TOTAL-ASSETS> 11,296 11,298
<COMMON> 673 673
<CAPITAL-SURPLUS-PAID-IN> 597 597
<RETAINED-EARNINGS> 1,914 1,914
<TOTAL-COMMON-STOCKHOLDERS-EQ> 3,184 3,184
34 34
292 292
<LONG-TERM-DEBT-NET> 2,940 2,940
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<COMMERCIAL-PAPER-OBLIGATIONS> 1,544 1,546
<LONG-TERM-DEBT-CURRENT-PORT> 26 26
2 2
<CAPITAL-LEASE-OBLIGATIONS> 11 11
<LEASES-CURRENT> 4 4
<OTHER-ITEMS-CAPITAL-AND-LIAB> 3,209 3,209
<TOT-CAPITALIZATION-AND-LIAB> 11,296 11,298
<GROSS-OPERATING-REVENUE> 3,456 0
<INCOME-TAX-EXPENSE> 93 0
<OTHER-OPERATING-EXPENSES> 2,726 0
<TOTAL-OPERATING-EXPENSES> 2,819 0
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<TOTAL-INTEREST-EXPENSE> 326 0
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18 0
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<CASH-FLOW-OPERATIONS> 739 0
<EPS-PRIMARY> 2.11 0
<EPS-DILUTED> 2.11 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 002
<NAME> CSW CORP
<MULTIPLIER> 1,000,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1995
<PERIOD-END> SEP-30-1995 SEP-30-1995
<BOOK-VALUE> PER-BOOK PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 3 3
<OTHER-PROPERTY-AND-INVEST> 3,396 3,396
<TOTAL-CURRENT-ASSETS> 563 565
<TOTAL-DEFERRED-CHARGES> 50 50
<OTHER-ASSETS> 0 0
<TOTAL-ASSETS> 4,012 4,014
<COMMON> 673 673
<CAPITAL-SURPLUS-PAID-IN> 597 597
<RETAINED-EARNINGS> 1,914 1,914
<TOTAL-COMMON-STOCKHOLDERS-EQ> 3,184 3,184
0 0
0 0
<LONG-TERM-DEBT-NET> 0 0
<SHORT-TERM-NOTES> 0 0
<LONG-TERM-NOTES-PAYABLE> 0 0
<COMMERCIAL-PAPER-OBLIGATIONS> 758 760
<LONG-TERM-DEBT-CURRENT-PORT> 0 0
0 0
<CAPITAL-LEASE-OBLIGATIONS> 0 0
<LEASES-CURRENT> 0 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 70 70
<TOT-CAPITALIZATION-AND-LIAB> 4,012 4,014
<GROSS-OPERATING-REVENUE> 0 0
<INCOME-TAX-EXPENSE> (20) 0
<OTHER-OPERATING-EXPENSES> 83 0
<TOTAL-OPERATING-EXPENSES> 63 0
<OPERATING-INCOME-LOSS> (63) 0
<OTHER-INCOME-NET> 518 0
<INCOME-BEFORE-INTEREST-EXPEN> 455 0
<TOTAL-INTEREST-EXPENSE> 51 0
<NET-INCOME> 404 0
0 0
<EARNINGS-AVAILABLE-FOR-COMM> 404 0
<COMMON-STOCK-DIVIDENDS> 328 0
<TOTAL-INTEREST-ON-BONDS> 0 0
<CASH-FLOW-OPERATIONS> 416 0
<EPS-PRIMARY> 2.11 0
<EPS-DILUTED> 2.11 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000081027
<NAME> PUBLIC SERVICE COMPANY OF OKLAHOMA
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1995
<PERIOD-END> SEP-30-1995 SEP-30-1995
<BOOK-VALUE> PER-BOOK PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 1,318,934 1,317,434
<OTHER-PROPERTY-AND-INVEST> 3,986 3,986
<TOTAL-CURRENT-ASSETS> 99,128 99,128
<TOTAL-DEFERRED-CHARGES> 17,446 17,446
<OTHER-ASSETS> 36,255 39,755
<TOTAL-ASSETS> 1,475,749 1,477,749
<COMMON> 157,230 157,230
<CAPITAL-SURPLUS-PAID-IN> 180,000 180,000
<RETAINED-EARNINGS> 162,300 162,300
<TOTAL-COMMON-STOCKHOLDERS-EQ> 499,530 499,530
0 0
19,826 19,826
<LONG-TERM-DEBT-NET> 378,876 378,876
<SHORT-TERM-NOTES> 43,308 45,308
<LONG-TERM-NOTES-PAYABLE> 0 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0 0
<LONG-TERM-DEBT-CURRENT-PORT> 25,000 25,000
0 0
<CAPITAL-LEASE-OBLIGATIONS> 0 0
<LEASES-CURRENT> 0 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 509,209 509,209
<TOT-CAPITALIZATION-AND-LIAB> 1,475,749 1,477,749
<GROSS-OPERATING-REVENUE> 704,194 0
<INCOME-TAX-EXPENSE> 34,813 0
<OTHER-OPERATING-EXPENSES> 554,813 0
<TOTAL-OPERATING-EXPENSES> 589,626 0
<OPERATING-INCOME-LOSS> 114,568 0
<OTHER-INCOME-NET> 4,661 0
<INCOME-BEFORE-INTEREST-EXPEN> 119,229 0
<TOTAL-INTEREST-EXPENSE> 32,556 0
<NET-INCOME> 86,673 0
816 0
<EARNINGS-AVAILABLE-FOR-COMM> 85,857 0
<COMMON-STOCK-DIVIDENDS> 54,000 0
<TOTAL-INTEREST-ON-BONDS> 29,594 0
<CASH-FLOW-OPERATIONS> 139,332 0
<EPS-PRIMARY> .45 0
<EPS-DILUTED> .45 0
</TABLE>
