SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 23, 1996
Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
0-343 Public Service Company of Oklahoma 73-0410895
(An Oklahoma Corporation)
212 East 6th Street
Tulsa, Oklahoma 74119-1212
(918) 599-2000
ITEM 5. OTHER EVENTS
UNAUDITED FINANCIAL INFORMATION IN ANTICIPATION OF A DEBT
OFFERING BY PUBLIC SERVICE COMPANY OF OKLAHOMA
OVERVIEW
Net income for common stock for 1995 was $81 million,
a 20% increase from 1994 net income for common stock of $67
million. The increase was due primarily to decreased
operating and maintenance expenses and the sale of a non-
utility fiber optic telecommunication property during 1995.
Net income for common stock for the three month period
ended December 31, 1995 was $3.0 million, compared to $7.8
million for the same period in 1994. The decrease was due
primarily to lower unbilled revenues, higher depreciation
and amortization due to increased depreciable plant and
higher interest expense due to increased borrowings, offset
in part by lower maintenance costs.
SELECTED FINANCIAL INFORMATION (UNAUDITED)
(thousands)
1995
Operating Revenues $690,823
Operating Income 111,769
Net Income 81,828
Net Income for Common Stock 81,012
Stock
Net Utility Plant 1,330,376
CAPITALIZATION (UNAUDITED)
(thousands, except percentages)
December 31,
1995
Common Equity $487,511 55.0%
Preferred Stock 19,826 2.2%
Long-term Debt (1) 379,250 42.8%
$886,587 100.0%
(1) Does not include $25.0 million of long-term debt, the
principal of which is due within 12 months.
RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
(thousands, except ratios)
Twelve Months
Ended
December 31,
1995
Operating Income $111,769
Adjustments:
Federal and state income taxes 37,491
Provision for deferred Federal
and state income taxes 2,703
Deferred investment tax credits (2,789)
Other income and deductions 2,274
Allowance for borrowed and equity
funds used during construction 3,734
Earnings $155,182
Fixed Charges:
Interest on long-term debt $ 29,594
Other interest 6,355
Fixed Charges $ 35,949
Ratio of Earnings to Fixed Charges 4.32
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
PUBLIC SERVICE COMPANY OF OKLAHOMA
Date: February 23, 1996
By: /s/ R. Russell Davis
R. Russell Davis
Controller
