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Previous: TAX EXEMPT SECURITIES TRUST SERIES 270, 485BPOS, 1994-02-28 |
Next: SHAWMUT NATIONAL CORP, 8-K, 1994-02-28 |
<PAGE>
FORM U-3A-2
Adopted November 9, 1939 File No. 69-340
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
Statement by Holding Company Claiming Exemption
Under Rule U-2 from the Provisions
of the Public Utility Holding Company Act of 1935
To be filed annually prior to March 1
NIPSCO Industries, Inc.
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to
Rule U-2, its statement claiming exemption as a holding company from the
provisions of the Public Utility Holding Company Act of 1935 and submits
the following information:
1. Name, State of organization, location and nature of business of
claimant and every subsidiary thereof other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly or
indirectly holds an interest.
<TABLE>
<CAPTION>
Name of State of Nature of
Company Organization Location Business
_______ ____________ ________ _________
<S> <C> <C> <C>
NIPSCO Industries, Inc. Indiana Hammond, Indiana Holding
company
Northern Indiana Public Indiana Hammond, Indiana Electric and
Service Company gas utility
NIPSCO Exploration Indiana Hammond, Indiana Gas
Company, Inc. (1) exploration
investment
in off-shore
Gulf of
Mexico oil
and gas leases
Shore Line Shops, Indiana Hammond, Indiana Real estate
Incorporated (1) purchase and
sale of
transferred
employees
residences
Kokomo Gas and Fuel Indiana Kokomo, Indiana Gas utility
Company
KGF Trading Company (2) Indiana Kokomo, Indiana Gas
brokering
NIPSCO Capital Markets, Indiana Hammond, Indiana Funding
Inc. agent for
all
non-utility
ventures
801 East Corp. Indiana Merrillville, Management
Indiana services
NIPSCO Development Indiana Hammond, Indiana Investments
Company, Inc. including
real estate
Analytic Systems Indiana Hobart, Indiana Fluid
Laboratories, Inc. (3) filtration
systems
G. R. Clark Corporation Indiana Hobart, Indiana Design of
(4) pollution
control
systems
Harbor Coal Company (4) Indiana Hammond, Indiana Coal
pulveri-
zation
joint
venture
JOF Transportation Indiana Hammond, Indiana Rail freight
Company (4) joint-
venture
KOGAF Enterprises, Indiana Kokomo, Indiana Real estate
Inc. (4) investments
Metals Technology Indiana Shirley, Indiana Metals
Corporation (5) foundry
NDC Douglas Properties, Indiana Hammond, Indiana Affordable
Inc. (4) housing
projects
NIPSCO International Indiana Hammond, Indiana Investing in
Power System overseas
Company (4) power
generation
NIPSCO Security Indiana Hammond, Indiana Security
Services, Inc. (4) services
Process and Control Indiana Hobart, Indiana Design of
Technology Corporation pollution
(4) control
systems
Riverside Caloric Indiana Hammond, Indiana Tire-derived
Company (4) fuel
processing
facilities
RIC, Inc. (4) Indiana Schererville, Real estate
Indiana investing
and
management
Cardinal Property Indiana Schererville, Building
Management, Inc. (6) Indiana and
property
management
Lake Erie Land Company Indiana Hammond, Indiana Development
(4) of
commercial
real estate
SCC Services, Inc. (7) Indiana Hammond, Indiana Operation of
golf course
NIPSCO Energy Services, Indiana Hammond, Indiana Supervises
Inc. energy-
related
diversified
projects
Crossroads Pipeline Indiana Hammond, Indiana Intrastate
Company (8) gas
transmission
NIPSCO Energy Trading Indiana Hammond, Indiana Gas and
Corp. (8) other
energy
brokering
businesses
NIPSCO Fuel Company, Indiana Hammond, Indiana Investments
Inc. (8) in gas and
oil ventures
NI-TEX, Inc. (8) Indiana Hammond, Indiana Gas supply
and
transpor-
tation
Triumph Natural Gas, Delaware Dallas, Texas Gas supply
Inc. (9) and
brokering
Northern Indiana Fuel Indiana Auburn, Indiana Gas utility
and Light Company, Inc.
Northern Indiana Trading Indiana Auburn, Indiana Gas
Company (10) brokering
<FN>
(1) Wholly-owned subsidiary of Northern Indiana Public Service
Company.
(2) Wholly-owned subsidiary of Kokomo Gas and Fuel Company.
(3) Majority-owned subsidiary of NIPSCO Development Company, Inc.
(4) Wholly-owned subsidiary of NIPSCO Development Company, Inc.
(5) Majority-owned subsidiary of KOGAF Enterprises, Inc.
(6) Wholly-owned subsidiary of RIC, Inc.
(7) Wholly-owned subsidiary of Lake Erie Land Company.
(8) Wholly-owned subsidiary of NIPSCO Energy Services, Inc.
(9) Majority-owned subsidiary of NIPSCO Energy Services, Inc.
(10) Wholly-owned subsidiary of Northern Indiana Fuel and Light
Company, Inc.
</TABLE>
<PAGE>
2. A brief description of the properties of claimant and each of its
subsidiary public utility companies used for the generation,transmission
and distribution of electric energy for sale, or for the production,
transmission, and distribution of natural or manufactured gas,
indicating the location of principal generating plants, transmission
lines, producing fields, gas manufacturing plants, and electric and gas
distribution facilities, including all such properties which are outside
the State in which claimant and its subsidiaries are organized and all
transmission or pipelines which deliver or receive electric energy or
gas at the borders of such State.
The claimant, NIPSCO Industries, Inc. (Industries), owns no physical
properties. All the physical properties of Northern Indiana Public
Service Company (Northern Indiana),Kokomo Gas and Fuel Company (Kokomo
Gas) and Northern Indiana Fuel and Light Company, Inc. (NIFL) are
located in the State of Indiana. Crossroads Pipeline Company
(Crossroads) owns a 202-mile natural gas pipeline running from northwest
Indiana to Cygnet, Ohio. Only the Indiana portion of the line is
presently in service as our intrastate gas pipeline.
The only significant real properties owned by other subsidiaries of
Industries are: the Southlake Complex, a 325,000 square foot office
building in Merrillville, Indiana, leased to Northern Indiana and owned
by NIPSCO Development Company, Inc.; (Development), a 36-mile intrastate
natural gas pipeline, located in southern Texas and half-owned by
NI-TEX, Inc.; a golf course and surrounding residential development in
Chesterton, Indiana, owned by Lake Erie Land Company; and commercial
real estate joint ventures, half-owned by KOGAF Enterprises, located in
Kokomo, Indiana.
Northern Indiana Public Service Company. Northern Indiana is a public
utility operating company engaged in supplying natural gas and
electrical energy to the public. It operates in 30 counties in the
northern part of Indiana, serving an area of about 12,000 square miles
with a population of approximately 2.2 million. Northern Indiana at
December 31, 1993, served approximately 622,500 customers with gas and
approximately 395,100 with electricity.
Electric. Northern Indiana owns and operates four electric generating
stations using fossil fuels with net capability of 3,179,000 kilowatts.
Northern Indiana also owns and operates two hydroelectric generating
plants with rated net capability of 10,000 kilowatts, and four gas fired
combustion turbine generating units with net capability of 203,000
kilowatts, an aggregate of 3,392,000 kilowatts. All of Northern
Indiana's generating units are located in Northwest Indiana.
Northern Indiana has 290 substations with an aggregate transformer
capacity of 22,449,300 KVA. Its transmission system with voltages from
34,500 to 345,000 consists of approximately 3,050 circuit miles of line.
The electric distribution system extends into 21 counties and consists
of approximately 7,669 circuit miles of overhead and approximately 1,108
cable miles of underground primary distribution lines operating at
various voltages from 2,400 to 12,500 volts.
Gas. The gas is purchased from Natural Gas Pipeline Company of America
(Natural), Midwestern Gas Transmission Company (Midwestern), Panhandle
Eastern Pipe Line Company (Panhandle), Trunkline Gas Company
(Trunkline), ANR Pipeline Company (ANR) and various producers under
separate service agreements with each of these suppliers. Approximately
28% of Northern Indiana's 1993 gas supply was purchased from the spot
market and generally on a 30-day agreement.
The wholesale rates of Natural, Midwestern, Panhandle, Trunkline and ANR
to Northern Indiana are subject to change either in accordance with
purchase gas adjustment and procedures established by the Federal Energy
Regulatory Commission (FERC) or in rate proceedings filed with the FERC,
or both.
Northern Indiana has in operation an underground gas storage field at
Royal Center, Indiana, which currently has a storage capacity of 6.75
million Mcf. In addition, Northern Indiana has several gas storage
service agreements which make possible the withdrawal of substantial
quantities of gas from other storage facilities. All of the storage
agreements have limitations on the daily withdrawal volumes and the
timing thereof.
Northern Indiana has a liquefied natural gas plant in LaPorte County,
Indiana, which is designed for peak shaving and has the following
capacities: maximum storage of 4,000,000 Mcf; maximum liquefaction rate
(gas to liquid), 20,000 Mcf per day; maximum vaporization rate (output
to distribution system), 400,000 Mcf per day. Northern Indiana has
approximately 12,266 miles of gas mains.
Other Properties. Northern Indiana owns and has a substantial
investment in offices and service buildings, salesrooms, garages, repair
shops, motor vehicles, construction equipment and tools, and office
furniture and equipment, and also leases offices and storerooms in
various localities. It also owns miscellaneous parcels of real estate
not now used in utility operations.
Kokomo Gas and Fuel Company. Kokomo Gas is a public utility operating
company which provides natural gas and natural gas transportation
services to approximately 31,000 customers at December 31, 1993.
Kokomo's service territories include all of Howard County, and parts of
Miami, Tipton, Cass and Carroll Counties in Indiana. Kokomo's service
area has a population in excess of 100,000 people and includes 23
cities, towns and communities.
Kokomo Gas purchased gas on the spot market from a number of suppliers
including NI-TEX, Inc. and NIPSCO Energy Trading Corp., subsidiaries of
NIPSCO Energy Services, Inc., to satisfy some of its system
requirements; the balance was purchased from Panhandle. Spot market
purchases accounted for 99% of total system requirements in 1993. The
wholesale rates of Panhandle to Kokomo Gas are subject to change either
in accordance with purchased gas adjustment procedures established by
the FERC, in rate proceedings filed with the FERC, or both.
Kokomo Gas has a liquified natural gas plant in Howard County which has
the following capacities: maximum storage of 400,000 Mcf; maximum
liquefication rate (gas to liquid), 2,850 Mcf per day; maximum
vaporization rate (output to distribution system), 30,000 Mcf per day.
Kokomo Gas also has a gas holder with a storage capacity of 12,000 Mcf.
Kokomo Gas has approximately 709 miles of mains.
Northern Indiana Fuel and Light Company, Inc. NIFL is a public utility
operating company which provides natural gas and natural gas
transportation services to approximately 28,700 customers at December
31, 1993. NIFL's service territories include all of DeKalb and Steuben,
and parts of Allen, LaGrange, and Noble counties in Indiana. NIFL's
service area has a population in excess of 66,700 people and includes
22 cities, towns and communities.
NIFL purchased gas on the spot market from a number of suppliers
including NI-TEX, Inc., and NIPSCO Energy Trading Corp., subsidiaries of
NIPSCO Energy Services, Inc., to satisfy its system requirements; the
balance was purchased from Panhandle and ANR. Spot market purchases
accounted for 50% of total system requirements. NIFL has approximately
732 miles of gas mains.
Crossroads Pipeline Company. In April 1993, Industries purchased a
20-inch crude-oil pipeline that extends from near the Illinois-Indiana
state line east 202 miles to Cygnet, Ohio. The Crossroads line has been
converted from oil to natural gas and was approved in late December,
1993, by the Indiana Utility Regulatory Commission as an intrastate gas
pipeline.
<PAGE>
3. The following information for the year 1993 with respect to claimant
and each of its subsidiary public utility companies:
(a) Number of Kwh of electric energy sold (at retail or wholesale) and
Mcf of natural or manufactured gas distributed at retail.
<TABLE>
<CAPTION>
Total Electric Retail Gas
Sales Distributed
Company (Kwh) (Mcf)
_______ ______________ ___________
<S> <C> <C>
Northern Indiana Public Service
Company 15,165,166,571 275,043,369
Kokomo Gas and Fuel Company NONE 8,121,640
Northern Indiana Fuel and Light
Company, Inc. NONE 7,881,513
</TABLE>
(b) Number of Kwh of electric energy and Mcf of natural or
manufactured gas distributed at retail outside the State in which each
such company is organized. NONE.
(c) Number of Kwh of electric energy and Mcf of natural or
manufactured gas sold at wholesale outside the State in which each such
company is organized, or at the State line.
<TABLE>
<CAPTION>
Electric Sales Gas Sales
Company (Kwh) (Mcf)
_______ ______________ _________
<S> <C> <C>
Northern Indiana Public Service
Company 274,779,000* NONE
Kokomo Gas and Fuel Company NONE NONE
Northern Indiana Fuel and Light
Company, Inc. NONE NONE
<FN>
* Sold 172,797,000 Kwh to Consumers Power Company at the
Indiana-Michigan state line, 33,533,000 Kwh to Central Illinois Public
Service Company at the Indiana-Illinois state line, and 68,449,000 Kwh
to Commonwealth Edison Company, Inc. at the Indiana-Illinois state line.
</TABLE>
(d) Number of Kwh of electric energy and Mcf of natural or
manufactured gas purchased outside the State in which each such company
is organized or at the State line.
<TABLE>
<CAPTION>
Electric
Purchases Gas Purchases
Company (Kwh) (Mcf)
_______ _________ _____________
<S> <C> <C>
Northern Indiana Public Service
Company 885,444,000** NONE
Kokomo Gas and Fuel Company NONE NONE
Northern Indiana Fuel and Light
Company, Inc. NONE NONE
<FN>
** Purchased 10,678,000 Kwh from Consumers Power Company at the
Indiana-Michigan state line, 20,858,000 Kwh from Central Illinois Public
Service Company at the Indiana-Illinois state line, and 853,908,000 Kwh
from Commonwealth Edison Company, Inc. at the Indiana-Illinois state
line.
</TABLE>
<PAGE>
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or
a foreign utility company, stating monetary amounts in United States
dollars:
(a) Name, location business address and description of the facilities
used by the EWG or foreign utility company for the generation,
transmission and distribution of electric energy for sale or for the
distribution at retail of natural or manufactured gas.
Elm Energy and Recycling (UK) Ltd. ("Elm Energy"), an exempt
wholesale generator, is a whole tires-to-energy facility whose
registered address is Sparklemore House, Biddings Lane, Bilston,
Wolverhampton WV159NN, England. The facility incinerates waste tires,
raises steam and generates electricity for export to the grid.
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
Development holds a 95% equity ownership position in Elm Energy.
(c) Type and amount of capital invested, directly or indirectly, by the
holding company claiming exemption; any direct or indirect guarantee of
the security of the EWG or foreign utility company by the holding
company claiming exemption; and any debt or other financial obligation
for which there is recourse, directly or indirectly, to the holding
company claiming exemption or another system company, other than the EWG
or foreign utility company.
Industries invested $23,121,000 for Ordinary Shares of Elm Energy
indirectly through Development. Industries has provided no guarantees
nor is there any debt having recourse to Industries.
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
<TABLE>
<CAPTION>
Elm Energy and Recycling (UK) Ltd.
1993
__________________________________
(Dollars in thousands)
______________________
<S> <C>
Capitalization at December 31, 1993:
Shareholders' equity $ 16,591
Long-term debt 45,343
_________
Total $ 61,934
=========
Net Loss $ (268)
=========
</TABLE>
(e) Identify any service, sales or construction contract(s) between the
EWG or foreign utility company and a system company, and describe the
services to be rendered or goods sold and fees or revenues under such
agreements(s).
Pursuant to the Management and Technical Support Agreement dated
March 3, 1992 between Elm Energy and Development, Development has agreed
to provide personnel to assist Elm Energy in the management and
technical support of the construction, commissioning and testing of the
facility, and management of payments to the engineers and contractor.
No fees are being paid by Elm Energy to Development for these services.
<PAGE>
EX-99.A
Page 1 of 16
<TABLE>
NIPSCO Industries, Inc.
Consolidating Statement of Income As of December 31, 1993
Exhibit A
<CAPTION>
NIPSCO Northern
Industries, Indiana Public
Inc. Service Company
____________ _______________
(Dollars in thousands)
<S> <C> <C>
Operating Revenues:
Gas $ - $ 655,980
Electric - 963,643
_____________ _____________
- 1,619,623
_____________ _____________
Cost of Energy:
Gas purchased for resale - 363,175
Fuel for electric generation - 244,552
Power purchased - 18,225
_____________ _____________
- 625,952
_____________ _____________
Operating Margin - 993,671
_____________ _____________
Other Operating Expenses and Taxes
(except income):
Other operation - 304,169
Maintenance - 82,394
Depreciation and amortization - 184,741
Taxes (except income) - 70,036
_____________ _____________
- 641,340
_____________ _____________
Operating Income Before Utility
Income Taxes - 352,331
_____________ _____________
Utility Income Taxes - 94,926
_____________ _____________
Operating Income - 257,405
_____________ _____________
Other Income (Deductions):
Allowance for funds, other than
borrowed funds,
used during construction - 1
Other, net 156,140 (73)
_____________ _____________
156,140 (72)
_____________ _____________
Income Before Interest and Other Charges 156,140 257,333
_____________ _____________
Interest and Other Charges:
Interest on long-term debt - 75,344
Other interest - 7,212
Allowance for borrowed funds used
during construction and carrying
charges - (622)
Amortization of premium, reacquisition
premium, discount and expense on debt,
net - 3,295
Dividend requirements on preferred stocks
of subsidiary - -
_____________ _____________
- 85,229
_____________ _____________
Net Income 156,140 172,104
_____________ _____________
Dividend requirements on preferred shares 3,063 10,341
_____________ _____________
Balance available for common shareholders $ 153,077 $ 161,763
============= =============
Average common shares outstanding 66,136,396 -
Earnings per average common share $ 2.31 $ -
============= =============
Dividends declared per common share $ 1.35 $ -
============= =============
</TABLE>
<PAGE>
EX-99.A
Page 2 of 16
<TABLE>
NIPSCO Industries, Inc.
Consolidating Statement of Income As of December 31, 1993
Exhibit A
<CAPTION>
Kokomo Gas Northern
and Fuel Indiana Fuel and
Company Light Co., Inc.
___________ _______________
(Dollars in thousands)
<S> <C> <C>
Operating Revenues:
Gas $ 32,574 $ 25,675
Electric - -
___________ ___________
32,574 25,675
___________ ___________
Cost of Energy:
Gas purchased for resale 20,333 16,082
Fuel for electric generation - -
Power purchased - -
___________ ___________
20,333 16,082
___________ ___________
Operating Margin 12,241 9,593
___________ ___________
Other Operating Expenses and Taxes
(except income):
Other operation 5,663 4,629
Maintenance 766 388
Depreciation and amortization 1,262 997
Taxes (except income) 961 624
___________ ___________
8,652 6,638
___________ ___________
Operating Income Before Utility
Income Taxes 3,589 2,955
___________ ___________
Utility Income Taxes 1,157 747
___________ ___________
Operating Income 2,432 2,208
___________ ___________
Other Income (Deductions):
Allowance for funds, other than
borrowed funds, used during
construction - -
Other, net (241) (361)
___________ ___________
(241) (361)
___________ ___________
Income Before Interest and Other
Charges 2,191 1,847
___________ ___________
Interest and Other Charges:
Interest on long-term debt - 795
Other interest 1 28
Allowance for borrowed funds
used during construction
and carrying charges - -
Amortization of premium,
reacquisition premium,
discount and expense on debt,
net - 5
Dividend requirements on preferred
stocks of subsidiary - -
___________ ___________
1 828
___________ ___________
Net Income 2,190 1,019
Dividend requirements on preferred
shares - -
___________ ___________
Balance available for common
shareholders $ 2,190 $ 1,019
=========== ===========
</TABLE>
<PAGE>
EX-99.A
Page 3 of 16
<TABLE>
NIPSCO Industries, Inc.
Consolidating Statement of Income As of December 31, 1993
Exhibit A
<CAPTION>
NIPSCO NIPSCO
Development Capital
Company, Inc. Markets, Inc.
___________ _______________
(Dollars in thousands)
<S> <C> <C>
Operating Revenues:
Gas $ - $ -
Electric - -
_____________ _____________
- -
_____________ _____________
Cost of Energy:
Gas purchased for resale - -
Fuel for electric generation - -
Power purchased - -
- -
Operating Margin - -
Other Operating Expenses and Taxes
(except income):
Other operation - -
Maintenance - -
Depreciation and amortization - -
Taxes (except income) - -
- -
Operating Income Before Utility
Income Taxes - -
Utility Income Taxes - -
Operating Income - -
Other Income (Deductions):
Allowance for funds, other than
borrowed funds, used during
construction - -
Other, net (2,893) 8,564
_____________ _____________
(2,893) 8,564
_____________ _____________
Income Before Interest and
Other Charges (2,893) 8,564
_____________ _____________
Interest and Other Charges:
Interest on long-term debt 251 5,731
Other interest - 1,997
Allowance for borrowed funds
used during construction and
carrying charges - -
Amortization of premium,
reacquisition premium,
discount and expense on debt,
net - 282
Dividend requirements on preferred
stocks of subsidiary - -
_____________ _____________
251 8,010
_____________ _____________
Net Income (3,144) 554
_____________ _____________
Dividend requirements on preferred
shares - -
_____________ _____________
Balance available for common $ (3,144) $ 554
============= =============
</TABLE>
<PAGE>
EX-99.A
Page 4 of 16
<TABLE>
NIPSCO Industries, Inc.
Consolidating Statement of Income As of December 31, 1993
Exhibit A
<CAPTION>
NIPSCO Energy
Services, Inc
_____________________
(Dollars in thousands)
<S> <C>
Operating Revenues:
Gas $ -
Electric -
____________
-
____________
Cost of Energy:
Gas purchased for resale -
Fuel for electric generation -
Power purchased -
____________
-
____________
Operating Margin -
____________
Other Operating Expenses and Taxes (except income):
Other operation -
Maintenance -
Depreciation and amortization -
Taxes (except income) -
____________
-
____________
Operating Income Before Utility Income Taxes -
____________
Utility Income Taxes -
____________
Operating Income -
____________
Other Income (Deductions):
Allowance for funds, other than borrowed
funds, used during construction -
Other, net (1,184)
____________
(1,184)
____________
Income Before Interest and Other Charges (1,184)
____________
Interest and Other Charges:
Interest on long-term debt -
Other interest -
Allowance for borrowed funds used during
construction and carrying charges (825)
Amortization of premium, reacquisition
premium, discount and expense on debt, net -
Dividend requirements on preferred stocks
of subsidiary -
____________
(825)
____________
Net Income (359)
Dividend requirements on preferred shares -
____________
Balance available for common shareholders $ (359)
============
</TABLE>
<PAGE>
EX-99.A
Page 5 of 16
<TABLE>
NIPSCO Industries, Inc.
Consolidating Statement of Income As of December 31, 1993
Exhibit A
<CAPTION>
Reclassifications NIPSCO
and Industries, Inc.
Eliminations Consolidated
_________________ ________________
(Dollars in thousands)
<S> <C> <C>
Operating Revenues:
Gas $ - $ 714,229
Electric - 963,643
_____________ _____________
- 1,677,872
_____________ _____________
Cost of Energy:
Gas purchased for resale - 399,590
Fuel for electric generation - 244,552
Power purchased - 18,225
_____________ _____________
- 662,367
_____________ _____________
Operating Margin - 1,015,505
_____________ _____________
Other Operating Expenses and Taxes
(except income):
Other operation - 314,461
Maintenance - 83,548
Depreciation and amortization - 187,000
Taxes (except income) - 71,621
_____________ _____________
- 656,630
_____________ _____________
Operating Income Before Utility
Income Taxes - 358,875
_____________ _____________
Utility Income Taxes - 96,830
_____________ _____________
Operating Income - 262,045
_____________ _____________
Other Income (Deductions):
Allowance for funds, other than
borrowed funds, used during
construction - 1
Other, net (162,023) (2,071)
_____________ _____________
(162,023) (2,070)
_____________ _____________
Income Before Interest and Other
Charges (162,023) 259,975
_____________ _____________
Interest and Other Charges:
Interest on long-term debt - 82,121
Other interest - 9,238
Allowance for borrowed funds used during
construction and carrying charges - (1,447)
Amortization of premium, reacquisition
premium, discount and expense on debt,
net - 3,582
Dividend requirements on preferred
stocks of subsidiary 10,341 10,341
_____________ _____________
10,341 103,835
_____________ _____________
Net Income (172,364) 156,140
Dividend requirements on preferred
shares (10,341) 3,063
_____________ _____________
Balance available for common
shareholders $ (162,023) $ 153,077
============= =============
Average common shares outstanding 66,136,396
Earnings per average common share $ 2.31
=============
Dividends declared per common share $ 1.35
=============
</TABLE>
<PAGE>
EX-99.A
Page 6 of 16
<TABLE>
NIPSCO INDUSTRIES, INC.
Consolidating Balance Sheet - Assets
As of December 31, 1993
Exhibit A
<CAPTION>
Northern
NIPSCO Indiana Public
Industries, Inc. Service Company
________________ _______________
(Dollars in thousands)
<S> <C> <C>
Utility Plant, at original cost:
Electric $ - $ 3,778,016
Gas - 1,070,108
Common - 289,242
______________ _______________
- 5,137,366
______________ _______________
Less - Accumulated provision for
depreciation and amortization - 2,016,363
______________ _______________
Total utility plant - 3,121,003
______________ _______________
Other Property and Investments:
Other property, at cost, less
accumulated provision for
depreciation 2,295 9,167
Investments, at equity 1,080,374 -
Investments, at cost 86 610
______________ _______________
Total other property
and investments 1,082,755 9,777
______________ _______________
Current Assets:
Cash and cash equivalents 2,371 5,179
Accounts receivable 115 90,897
Accounts receivable - associated company 196,641 8,326
Fuel adjustment clause - 6,440
Gas cost adjustment clause - 35,565
Materials and supplies, at average cost - 65,144
Electric production fuel, at average cost - 21,533
Natural gas in storage, at last-in,
first-out cost - 56,803
Prepayments and other - 10,248
______________ _______________
Total current assets 199,127 300,135
______________ _______________
Deferred Charges:
Unamortized reacquisition premium on
debt and debt expenses - 51,806
Unamortized R.M. Schahfer Unit 17
and Unit 18 carrying charges and
deferred depreciation - 79,198
Other 2,781 51,316
______________ _______________
Total deferred charges 2,781 182,320
_____________ _______________
$ 1,284,663 $ 3,613,235
============= ===============
</TABLE>
<PAGE>
EX-99.A
Page 7 of 16
<TABLE>
NIPSCO INDUSTRIES, INC.
Consolidating Balance Sheet - Assets
As of December 31, 1993
Exhibit A
<CAPTION>
Kokomo Gas Northern
and Fuel Indiana Fuel and
Company Light Co., Inc.
__________ ________________
(Dollars in thousands)
<S> <C> <C>
Utility Plant, at original cost:
Electric $ - $ -
Gas 66,112 55,597
Common - -
_________ __________
66,112 55,597
_________ __________
Less - Accumulated provision for
depreciation and amortization 22,553 13,305
_________ __________
Total utility plant 43,559 42,292
_________ __________
Other Property and Investments:
Other property, at cost, less accumulated
provision for depreciation - 325
Investments, at equity - -
Investments, at cost 300 3
_________ __________
Total other property and investments 300 328
_________ __________
Current Assets:
Cash and cash equivalents 2,010 167
Accounts receivable 5,170 3,452
Accounts receivable - associated company 5,061 243
Fuel adjustment clause - -
Gas cost adjustment clause - 102
Materials and supplies, at average cost 295 618
Electric production fuel, at average cost - -
Natural gas in storage,
at last-in, first-out cost 2,273 2,698
Prepayments and other 84 45
_________ __________
Total current assets 14,893 7,325
_________ __________
Deferred Charges:
Unamortized reacquisition premium
on debt and debt expenses - 18
Unamortized R.M. Schahfer Unit 17
and Unit 18 carrying charges and
deferred depreciation - -
Other 922 612
_________ __________
Total deferred charges 922 630
_________ __________
$ 59,674 $ 50,575
========= ==========
</TABLE>
<PAGE>
EX-99.A
Page 8 of 16
<TABLE>
NIPSCO INDUSTRIES, INC.
Consolidating Balance Sheet - Assets
As of December 31, 1993
Exhibit A
<CAPTION>
NIPSCO NIPSCO
Development Capital
Company, Inc. Markets, Inc.
_____________ ____________
(Dollars in thousands)
<S> <C> <C>
Utility Plant, at original cost:
Electric $ - $ -
Gas - -
Common - -
_____________ ____________
- -
_____________ ____________
Less - Accumulated provision for
depreciation and amortization - -
_____________ ____________
Total utility plant - -
Other Property and Investments:
Other property, at cost, less accumulated
provision for depreciation 82,813 -
Investments, at equity 6,886 -
Investments, at cost 6,689 -
_____________ ____________
Total other property and investments 96,388 -
_____________ ____________
Current Assets:
Cash and cash equivalents 5,441 37
Accounts receivable 6,088 -
Accounts receivable - associated company 2,684 111,042
Fuel adjustment clause - -
Gas cost adjustment clause - -
Materials and supplies, at average cost 1,063 -
Electric production fuel, at average cost - -
Natural gas in storage, at
last-in, first-out cost - -
Prepayments and other 444 155
____________ ____________
Total current assets 15,720 111,234
____________ ____________
Deferred Charges:
Unamortized reacquisition premium
on debt and debt expenses 1,578 676
Unamortized R.M. Schahfer Unit 17
and Unit 18 carrying charges and
deferred depreciation - -
Other 6,532 -
_____________ ____________
Total deferred charges 8,110 676
_____________ ____________
$ 120,218 $ 111,910
============= ============
</TABLE>
<PAGE>
EX-99.A
Page 9 of 16
<TABLE>
NIPSCO INDUSTRIES, INC.
Consolidating Balance Sheet - Assets
As of December 31, 1993
Exhibit A
<CAPTION>
NIPSCO Energy
Services, Inc.
______________
(Dollars in thousands)
<S> <C>
Utility Plant, at original cost:
Electric $ -
Gas 24,361
Common -
___________
24,361
Less - Accumulated provision for
depreciation and amortization -
___________
Total utility plant 24,361
___________
Other Property and Investments:
Other property, at cost, less
accumulated provision for depreciation 29,584
Investments, at equity 14,756
Investments, at cost 1,000
___________
Total other property and investments 45,340
___________
Current Assets:
Cash and cash equivalents 935
Accounts receivable 9,326
Accounts receivable - associated company 11,701
Fuel adjustment clause -
Gas cost adjustment clause -
Materials and supplies, at average cost -
Electric production fuel, at average cost -
Natural gas in storage, at last-in, first-out cost 1,096
Prepayments and other 142
___________
Total current assets 23,200
Deferred Charges:
Unamortized reacquisition premium
on debt and debt expenses -
Unamortized R.M. Schahfer Unit 17 and
Unit 18 carrying charges
and deferred depreciation -
Other 146
___________
Total deferred charges 146
___________
$ 93,047
===========
</TABLE>
<PAGE>
EX-99.A
Page 10 of 16
<TABLE>
NIPSCO Industries, Inc.
Consolidating Balance Sheet - Assets
As of December 31, 1993
Exhibit A
<CAPTION>
Reclassifications NIPSCO
and Industries, Inc.
Eliminations Consolidated
_________________ ________________
(Dollars in thousands)
<S> <C> <C>
Utility Plant, at original cost:
Electric $ - $ 3,778,016
Gas - 1,216,178
Common - 289,242
_____________ _____________
- 5,283,436
_____________ _____________
Less - Accumulated provision for
depreciation and amortization - 2,052,221
_____________ _____________
Total utility plant - 3,231,215
Other Property and Investments:
Other property, at cost, less accumulated
provision for depreciation - 124,184
Investments, at equity (1,082,874) 19,142
Investments, at cost (2,499) 6,189
____________ _____________
Total other property and investments (1,085,373) 149,515
____________ _____________
Current Assets:
Cash and cash equivalents - 16,140
Accounts receivable 81 115,129
Accounts receivable - associated company (335,698) -
Fuel adjustment clause - 6,440
Gas cost adjustment clause (8) 35,659
Materials and supplies, at average cost - 67,120
Electric production fuel, at average cost - 21,533
Natural gas in storage,
at last-in, first-out cost - 62,870
Prepayments and other - 11,118
____________ _____________
Total current assets (335,625) 336,009
____________ _____________
Deferred Charges:
Unamortized reacquisition premium
on debt and debt expenses - 54,078
Unamortized R.M. Schahfer Unit 17
and Unit 18 carrying charges and
deferred depreciation - 79,198
Other - 62,309
____________ ____________
Total deferred charges - 195,585
____________ ____________
$ (1,420,998) $ 3,912,324
</TABLE>
<PAGE>
EX.99.A
Page 11 of 16
<TABLE>
NIPSCO INDUSTRIES, INC.
Consolidating Balance Sheet - Capitalization and Liabilities
As of December 31, 1993
Exhibit A
<CAPTION>
Northern
NIPSCO Indiana Public
Industries, Inc. Service Company
_________________ _______________
(Dollars in thousands)
<S> <C> <C>
Capitalization:
Common shareholders' equity -
Common shares $ 870,930 $ 859,488
Treasury shares (180,212) -
Retained earnings 380,888 144,114
Other 23,066 10,197
_____________ _____________
1,094,672 1,013,799
Preferred stocks 35,000 166,215
Long-term debt, excluding
amounts due within one year - 1,079,084
_____________ _____________
Total capitalization 1,129,672 2,259,098
_____________ _____________
Current Liabilities:
Obligations due within one year -
Commercial paper - 27,895
Medium-term notes - 65,000
Notes payable - 110,000
_____________ _____________
- 202,895
_____________ _____________
Other current liabilities -
Accounts payable 2,915 166,742
Accounts payable -
associated company 134,580 4,392
Sinking funds due within one year - 2,813
Dividends declared on common and
preferred stock 24,345 48,100
Customer deposits - 8,532
Taxes accrued (5,741) 77,023
Interest accrued - 11,671
Other accruals 57 44,200
_____________ _____________
156,156 363,473
_____________ _____________
Total current liabilities 156,156 566,368
_____________ _____________
Other:
Deferred income taxes (2,046) 569,035
Deferred investment tax credits,
being amortized over life of
related property - 128,239
Deferred credits 881 34,233
Regulatory income tax liability - 21,102
Other noncurrent liabilities - 35,160
_____________ _____________
Total other (1,165) 787,769
_____________ _____________
$ 1,284,663 $ 3,613,235
============= =============
</TABLE>
<PAGE>
EX-99.A
Page 12 of 16
<TABLE>
NIPSCO INDUSTRIES, INC.
Consolidating Balance Sheet - Capitalization and Liabilities
As of December 31, 1993
Exhibit A
<CAPTION>
Kokomo Gas Northern
and Fuel Indiana Fuel and
Company Light Co., Inc.
__________ ________________
(Dollars in thousands)
<S> <C> <C>
Capitalization:
Common shareholders' equity -
Common shares $ 46,170 $ 30,674
Treasury shares - -
Retained earnings (275) 1,019
Other - -
___________ ____________
45,895 31,693
___________ ____________
Preferred stocks - -
Long-term debt, excluding amounts
due within one year - 7,400
___________ ____________
Total capitalization 45,895 39,093
___________ ____________
Current Liabilities:
Obligations due within one year -
Commercial paper - -
Medium-term notes - -
Notes payable - -
___________ ____________
- -
___________ ____________
Other current liabilities -
Accounts payable 691 2,270
Accounts payable - associated company 3,603 1,994
Sinking funds due within one year - -
Dividends declared on common and
preferred stock - -
Customer deposits 417 520
Taxes accrued 1,736 526
Interest accrued 123 354
Other accruals 151 558
___________ ____________
6,721 6,222
___________ ____________
Total current liabilities 6,721 6,222
___________ ____________
Other:
Deferred income taxes 2,207 1,586
Deferred investment tax credits,
being amortized over life of
related property 789 653
Deferred credits 868 663
Regulatory income tax liability 1,911 2,358
Other noncurrent liabilities 1,283 -
___________ ____________
Total other 7,058 5,260
___________ ____________
$ 59,674 $ 50,575
=========== ===========
</TABLE>
<PAGE>
EX-99.A
Page 13 of 16
<TABLE>
NIPSCO INDUSTRIES, INC.
Consolidating Balance Sheet - Capitalization and Liabilities
As of December 31, 1993
Exhibit A
<CAPTION>
NIPSCO NIPSCO
Development Capital
Company, Inc. Markets, Inc.
_____________ _____________
(Dollars in thousands)
<S> <C> <C>
Capitalization:
Common shareholders' equity -
Common shares $ 1 $ 1,000
Treasury shares - -
Retained earnings (7,187) 2,206
Other (2,881) -
__________ ___________
(10,067) 3,206
__________ ___________
Preferred stocks - -
Long-term debt, excluding
amounts due within one year 48,708 61,676
__________ ___________
Total capitalization 38,641 64,882
__________ ___________
Current Liabilities:
Obligations due within one year -
Commercial paper - 47,000
Medium-term notes - -
Notes payable - -
__________ ___________
- 47,000
__________ ___________
Other current liabilities -
Accounts payable 8,106 -
Accounts payable -
associated company 71,902 (63)
Sinking funds due within one year 176 -
Dividends declared on common
and preferred stock - -
Customer deposits 2 -
Taxes accrued 714 -
Interest accrued 14 91
Other accruals 152 -
__________ ___________
81,066 28
__________ ___________
Total current liabilities 81,066 47,028
__________ ___________
Other:
Deferred income taxes (940) -
Deferred investment tax credits,
being amortized over life of
related property - -
Deferred credits 211 -
Regulatory income tax liability - -
Other noncurrent liabilities 1,240 -
__________ ___________
Total other 511 -
__________ ___________
$ 120,218 $ 111,910
========== ===========
</TABLE>
<PAGE>
EX-99.A
Page 14 of 16
<TABLE>
NIPSCO INDUSTRIES, INC.
Consolidating Balance Sheet - Capitalization and Liabilities
As of December 31, 1993
Exhibit A
<CAPTION>
NIPSCO Energy
Services, Inc.
_______________
(Dollars in thousands)
<S> <C>
Capitalization:
Common shareholders' equity -
Common shares $ 1
Treasury shares -
Retained earnings 848
Other -
_________
849
_________
Preferred stocks -
Long-term debt, excluding
amounts due within one year -
_________
Total capitalization 849
_________
Current Liabilities:
Obligations due within one year -
Commercial paper -
Medium-term notes -
Notes payable -
_________
-
_________
Other current liabilities -
Accounts payable 10,274
Accounts payable - associated company 74,480
Sinking funds due within one year -
Dividends declared on common and preferred stock -
Customer deposits -
Taxes accrued 775
Interest accrued -
Other accruals -
_________
85,529
_________
Total current liabilities 85,529
_________
Other:
Deferred income taxes 5,758
Deferred investment tax credits,
being amortized over life of
related property -
Deferred credits 911
Regulatory income tax liability -
Other noncurrent liabilities -
_________
Total other 6,669
_________
$ 93,047
=========
</TABLE>
<PAGE>
EX-99.A
Page 15 of 16
<TABLE>
NIPSCO Industries, Inc.
Consolidating Balance Sheet - Capitalization and Liabilities
As of December 31, 1993
Exhibit A
<CAPTION>
Reclassifications NIPSCO
and Industries, Inc.
Eliminations Consolidated
_________________ ________________
(Dollars in thousands)
<S> <C> <C>
Capitalization:
Common shareholders' equity -
Common shares $ (937,334) $ 870,930
Treasury shares - (180,212)
Retained earnings (140,725) 380,888
Other (7,316) 23,066
______________ ______________
(1,085,375) 1,094,672
______________ ______________
Preferred stocks - 201,215
Long-term debt, excluding
amounts due within one year (4,368) 1,192,500
______________ ______________
Total capitalization (1,089,743) 2,488,387
______________ ______________
Current Liabilities:
Obligations due within one year -
Commercial paper - 74,895
Medium-term notes - 65,000
Notes payable - 110,000
______________ ______________
- 249,895
______________ ______________
Other current liabilities -
Accounts payable 1,545 192,543
Accounts payable -
associated company (290,888) -
Sinking funds due within one year 4,368 7,357
Dividends declared on common and
preferred stock (46,280) 26,165
Customer deposits - 9,471
Taxes accrued (471) 74,562
Interest accrued - 12,253
Other accruals - 45,118
______________ ______________
(331,726) 367,469
______________ ______________
Total current liabilities (331,726) 617,364
______________ ______________
Other:
Deferred income taxes 471 576,071
Deferred investment tax credits,
being amortized over life of
related property - 129,681
Deferred credits - 37,767
Regulatory income tax liability - 25,371
Other noncurrent liabilities - 37,683
______________ ______________
Total other 471 806,573
______________ ______________
$ (1,420,998) $ 3,912,324
============== ==============
</TABLE>
<PAGE>
EX-99.A
Page 16 of 16
<TABLE>
NIPSCO Industries, Inc.
Consolidating Statement of Income As of December 31, 1993
Exhibit A
<CAPTION>
Northern
Indiana
NIPSCO Public Kokomo Gas
Industries Service and Fuel
Inc. Company Company
_________ _________ _________
(Dollars in thousands)
<S> <C> <C> <C>
Balance at December 31,
1992 $ 317,195 $ 147,581 $ (65)
Net income 156,140 172,104 2,190
Dividends declared on
common stock (89,384) (165,299) (2,400)
Dividends declared on
preferred stock (3,063) (10,341) -
Other - 69 -
_________ _________ _________
Balance at December 31,
1993 $ 380,888 $ 144,114 $ (275)
========= ========= =========
<CAPTION>
Northern
Indiana
Fuel
and NIPSCO NIPSCO
Light Development Capital
Company Company, Markets,
Inc. Inc. Inc.
_________ _________ _________
(Dollars in thousands)
<S> <C> <C> <C>
Balance at December 31,
1992 $ - $ (4,052) $ 1,653
Net income 1,019 (3,145) 553
Dividends declared on
common stock - - -
Dividends declared on
preferred stock - - -
Other - 10 -
_________ _________ _________
Balance at December 31,
1993 $ 1,019 $ (7,187) $ 2,206
========= ========= =========
<CAPTION>
NIPSCO Reclass- NIPSCO
Energy ifications Industries,
Services and Inc.
Inc. Eliminations Consolidated
_________ ____________ ____________
(Dollars in thousands)
<S> <C> <C> <C>
Balance at December 31,
1992 $ 1,207 $(146,324) $ 317,195
Net income (359) (172,362) 156,140
Dividends declared on
common stock - 167,699 (89,384)
Dividends declared on
preferred stock - 10,341 (3,063)
Other - (79) -
_________ _________ _________
Balance at December 31,
1993 $ 848 $(140,725) $ 380,888
========= ========= =========
</TABLE>
<PAGE>
<TABLE>
NIPSCO Industries, Inc.
Financial Data Schedule
1993
Exhibit B
<CAPTION>
Item No. Caption Heading (Dollars in thousands)
________ _________________ ______________________
<C> <C> <C>
1 Total Assets $ 3,912,324
2 Total Operating Revenues $ 1,677,872
3 Net Income $ 156,140
</TABLE>
<PAGE>
EX-99.C (Exhibit C - 1 thru 6)
Exhibit C-1
NIPSCO Industries, Inc.
Organizational Chart
Northern Indiana
|----Public Service ---(See Exhibit C-2)
| Company
|
|
| Kokomo
|----Gas and Fuel ---(See Exhibit C-3)
| Company
|
|
| Northern Indiana
|----Fuel and Light ---(See Exhibit C-4)
| Company, Inc.
NIPSCO ______|
Industries, Inc. |
|----801 East Corp.
|
|
| NIPSCO
|----Development ---(See Exhibit C-5)
| Company, Inc.
|
|
| NIPSCO
|----Capital
| Markets, Inc.
|
|
| NIPSCO
|----Energy
Services, Inc. ---(See Exhibit C-6)
<PAGE>
Exhibit C-2
Northern Indiana Public Service, Inc.
Organizational Chart
Northern Indiana
Public Service
Company
|
|
|
|
---------------------------------
| |
| |
| |
| |
NIPSCO Shore Line
Exploration Shops,
Company, Inc. Incorporated
<PAGE>
Exhibit C-3
Kokomo Gas and Fuel Company
Organizational Chart
Kokomo Gas
and Fuel
Company
__________________
|
|
|
|
|
KGF
Trading
Company
<PAGE>
Exhibit C-4
Northern Indiana Fuel and Light Company, Inc.
Organizational Chart
Northern Indiana
Fuel and Light
Company, Inc.
______________________
|
|
|
|
|
Northern Indiana
Trading
Company<PAGE>
Exhibit C-5
NIPSCO Development Company, Inc.
Organizational Chart
Analytic Systems
|----Laboratories, Inc.
|
| Elm Energy and
|----Recycling (UK) Ltd.
|
| G. R. Clark
|----Corporation
NIPSCO |
Development ------ |
Company, Inc. | Harbor Coal
|----Company
|
| JOF
|----Transportation
| Company
|
| KOGAF Metals Technology
|----Enterprises, Inc.----Company
|
|
| Lake Erie Land SCC
|----Company ----Services, Inc.
|
|
| NDC Douglas
|----Properties, Inc.
|
| NIPSCO
|----International Power
| Systems Company
|
| NIPSCO
|----Security Service, Inc.
|
| Process and Control
|----Technology Corporation
|
| Riverside
|----Caloric Company
|
|
|----RIC, Inc. ----Cardinal Property
Management, Inc.
<PAGE>
Exhibit C-6
NIPSCO Energy Services, Inc.
Organizational Chart
Crossroads
|____Pipeline
| Company
|
|
|
|
|
| NIPSCO Energy
|----Trading Corp.
|
|
|
|
|
| NIPSCO
|----Fuel Company, Inc.
|
NIPSCO |
Energy ------|
Services, |
Inc. |
|----NI-TEX, Inc.
|
|
|
|
|
| Triumph Natural
|----Gas, Inc.
<PAGE>
EX-99.D
NIPSCO Industries, Inc.
The above-named claimant has caused this statement to be duly executed
on its behalf by its authorized officer on the 25th day of February, 1994.
NIPSCO Industries, Inc.
/s/ Jerry M. Springer
By_________________________
Corporate Seal Jerry M. Springer
Attest: Controller
Nina M. Rausch
Secretary
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Jerry M. Springer
Controller
NIPSCO Industries, Inc.
5265 Hohman Avenue
Hammond, Indiana 46320
|
|