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Previous: WILLIAM BLAIR MUTUAL FUNDS INC, DEF 14A, 1996-03-05 |
Next: NEW AMERICA HIGH INCOME FUND INC, N-30D, 1996-03-05 |
<PAGE>
FORM U-3A-2/A
This amendment Form U-3A-2/A is being filed to correct Exhibit 99.A,
A.31, A.39, and A.40 as follows:
EXHIBIT 99.A:
A.31 NIPSCO ENERGY TRADING CORPORATION
STATEMENT OF RETAINED EARNINGS for the year ended December 31, 1995
(Dollars in Thousands) as follows:
Balance At Beginning of Year $ 4,482
Net Income 216
Dividends Declared Common (3,500)
__________
BALANCE AT END OF YEAR $ 1,198
==========
A.39 NORTHERN INDIANA TRADING COMPANY
BALANCE SHEET as of December 31, 1995 (Dollars in Thousands) caption
"Other property at cost less depreciation" in the amount of $476 was
erroneously reported as $933.
A.40 NORTHERN INDIANA PUBLIC SERVICE COMPANY
BALANCE SHEET as of December 31, 1995 (Dollars in Thousands) under
"Other Current Liabilities" caption, the "Accrued employment costs" and
"Other accruals" amounts of $45,771 and $30,790 respectively were
previously reported as $30,790 and $45,771 respectively.
File No. 69-340
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
Statement by Holding Company Claiming Exemption
Under Rule U-2 from 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. Information below is as of
December 31, 1995.
<TABLE>
<CAPTION>
State of Nature of
Name of Company Organization Location Business
====================== ============= ================= ==============
<S> <C> <C> <C>
NIPSCO Industries, Inc. Indiana Hammond, Indiana Holding
company
Crossroads Pipeline Indiana Hammond, Indiana Interstate
Company gas
transmission
801 East Corp. Indiana Merrillville, Management
Indiana services
Hamilton Harbour Indiana Hammond, Indiana Captive
Insurance Services, insurance
Ltd. program
Kokomo Gas and Fuel Indiana Kokomo, Indiana Gas utility
Company
Lakeside Energy Indiana Merrillville, Electric
Corporation Indiana generator
project
NIPSCO Capital Markets, Indiana Hammond, Indiana Funding agent
Inc. for all
non-utility
ventures
NIPSCO Development Indiana Hammond, Indiana Investments
Company, Inc. including
real estate
Analytic Systems Indiana Hobart, Indiana Fluid
Laboratories, Inc. (1) filtration
systems
FuelMaker Corporation (10) Canada Toronto, Canada Vehicle
fueling
G. R. Clark Corporation Indiana Hobart, Indiana Design of
(2) pollution
control
systems
Green Fuels, Inc. (2) Indiana Merrillville, Alternative
Indiana fuels
Harbor Coal Company (2) Indiana Hammond, Indiana Coal
pulverization
joint
venture
International Polymer Indiana Merrillville, Bonding
Corp. (2) Indiana technology
JOF Transportation Indiana Hammond, Indiana Rail freight
Company (2) joint-venture
KOGAF Enterprises, Inc. Indiana Kokomo, Indiana Real estate
(2) investments
Lake Erie Land Company Indiana Hammond, Indiana Development
(2) of commercial
and residen-
tial real
estate
SCC Services, Inc. (3) Indiana Hammond, Indiana Operation of
golf course
N Squared Aviation, Delaware Griffith, Aircraft
L.L.C. (11) Indiana leasing
NDC Douglas Properties, Indiana Hammond, Indiana Affordable
Inc. (2) housing
projects
NIPSCO International Indiana Hammond, Indiana Investing in
Power Systems Company (2) overseas
power
generation
NIPSCO Security Services, Indiana Hammond, Indiana Security
Inc. (2) services
Portside Energy Indiana Merrillville, Power
Corporation (2) Indiana generation
Process and Control Indiana Hobart, Indiana Design of
Technology Corporation pollution
(2) control
systems
RIC, Inc. (2) Indiana Hammond, Indiana Real estate
investing and
management
Cardinal Property Indiana Hammond, Indiana Building and
Management, Inc. (4) property
management
Riverside Caloric Company Indiana Hammond, Indiana Tire-derived
(2) fuel
processing
facilities
NIPSCO Energy Services, Indiana Hammond, Indiana Supervises
Inc. energy-
related
diversified
projects
Inventory Management and Texas Houston, Texas Energy risk
Distribution Company, management
L.L.C. (12) and gas
storage
optimization
NESI Energy Marketing, Indiana Merrillville, Marketing
L.L.C. (7) Indiana electric and
natural gas
energy and
energy
services
NIPSCO Energy Trading Indiana Hammond, Indiana Gas and other
Corp. (5) energy
brokering
businesses
NIPSCO Fuel Company, Indiana Hammond, Indiana Investments
Inc. (5) in gas and
oil ventures
NFCO Acquisition Company Texas Dallas, Texas Investment in
(6) gas and oil
properties
NI-TEX, Inc. (5) Indiana Hammond, Indiana Gas supply
and
transpor-
tation
Southlake Energy, Inc. Alberta Calgary, Alberta Development
(6) and invest-
ment gas and
oil properties
in western
Canada
Triumph Natural Gas, Inc. Delaware Dallas, Texas Gas supply
(7) and brokering
North Lake Energy Indiana Merrillville, Electric
Corporation Indiana generation
project
Northern Indiana Fuel and Indiana Auburn, Indiana Gas utility
Light Company, Inc.
Northern Indiana Trading Indiana Auburn, Indiana Gas brokering
Company (8)
Northern Indiana Public Indiana Hammond, Indiana Electric and
Service Company gas utility
NIPSCO ESP Services Indiana Merrillville, Service
Corporation (9) Indiana maintenance
agreements on
furnaces and
water heaters
NIPSCO Exploration Company, Indiana Hammond, Indiana Gas
Inc. (9) exploration
investment
in off-shore
Gulf of
Mexico oil
and gas
leases
Shore Line Shops, Indiana Hammond, Indiana Real estate
Incorporated (9) purchase and
sale of
transferred
employees
residences
Primary Energy, Inc. Indiana Hammond, Indiana Arranges
energy-
related
projects
<FN>
(1) Majority-owned subsidiary of NIPSCO Development Company, Inc.
(2) Wholly-owned subsidiary of NIPSCO Development Company, Inc.
(3) Wholly-owned subsidiary of Lake Erie Land Company.
(4) Wholly-owned subsidiary of RIC, Inc.
(5) Wholly-owned subsidiary of NIPSCO Energy Services, Inc.
(6) Wholly-owned subsidiary of NIPSCO Fuel Company, Inc.
(7) Majority-owned subsidiary of NIPSCO Energy Services, Inc.
(8) Wholly-owned subsidiary of Northern Indiana Fuel and Light
Company, Inc.
(9) Wholly-owned subsidiary of Northern Indiana Public Service
Company.
(10) 50% owned subsidiary of NIPSCO Development Company, Inc.
(11) Minority-owned investment of NIPSCO Development Company, Inc.
(12) Minority-owned interest of NIPSCO Energy Services, Inc.
</TABLE>
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 interstate pipeline running
from northwest Indiana to Cygnet, Ohio.
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;
commercial real estate joint ventures, half-owned by KOGAF Enterprises,
located in Kokomo, Indiana; and interests in oil and gas producing
properties in United States and Canada owned by NIPSCO Fuel Company, Inc.
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, 1995, served approximately 636,600 customers with gas and
approximately 403,900 with electricity.
ELECTRIC. Northern Indiana owns and operates four electric generating
stations using fossil fuels with net capability of 3,179,000 kilowatts
(kw), two hydroelectric generating plants with rated net capabilities
of 10,000 kw, four gas fired combustion turbine generating units with
net capabilities of 203,000 kw, for a total system capacity of
3,392,000 kw. All of Northern Indiana's generating units are located in
Northwest Indiana.
Northern Indiana has 292 substations with an aggregate transformer
capacity of 22,839,200 KVA. Its transmission system with voltages from
34,500 to 345,000 consists of approximately 3,047 circuit miles of
line. The electric distribution system extends into 21 counties and
consists of approximately 7,682 circuit miles of overhead and
approximately 1,265 cable miles of underground primary distribution
lines operating at various voltages from 2,400 to 12,500 volts.
GAS. In 1995, all of the gas supplied by Northern Indiana was
transported by 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), Tennessee Gas Pipeline Company (Tennessee) and
Crossroads Pipeline Company (Crossroads). Approximately 32% of
Northern Indiana's 1995 gas supply was purchased from the spot market
and generally on a 30-day agreement.
The transportation rates of Crossroads, and the transportation and
storage rates of Natural, Midwestern, Panhandle, Trunkline, ANR and
Tennessee to Northern Indiana are subject to change in accordance with
rate proceedings filed with the Federal Energy Regulatory Commission
(FERC).
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 12,976 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 32,200 customers at December 31, 1995.
Kokomo's service territories include all of Howard County, and parts
of Carroll, Cass, Clinton, Miami, and Tipton 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 NI-TEX, Inc. a
subsidiary of NIPSCO Energy Services, Inc., to satisfy all of its
system requirements in 1995.
Kokomo Gas has a liquefied 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 727 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 31,100 customers at
December 31, 1995. 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., a subsidiary of NIPSCO Energy Services, Inc.,
to satisfy all of its system requirements in 1995. NIFL has
approximately 765 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. In May 1995, Crossroads was approved by the
FERC an interstate pipeline.
3. The following information for the year 1995 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 16,924,352,854 275,843,476
Kokomo Gas and Fuel Company NONE 8,232,810
Northern Indiana Fuel and Light
Company, Inc. NONE 9,517,483
</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>
<TABLE>
<CAPTION>
Electric Sales Gas Sales
Company (Kwh) (Mcf)
=============================== =============== =============
<S> <C> <C>
Northern Indiana Public Service
Company 567,242,000 664,673
Kokomo Gas and Fuel Company NONE NONE
Northern Indiana Fuel and Light
Company, Inc. NONE NONE
</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 1,697,590,000 NONE
Kokomo Gas and Fuel Company NONE NONE
Northern Indiana Fuel and Light
Company, Inc. NONE NONE
</TABLE>
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. (Dollars in
1995 thousands)
====================================== ============
<S> <C>
Capitalization at December 31, 1995:
Shareholders' equity $12,126
Long-term debt 39,070
_______
Total $51,196
=======
Net (loss) $(5,651)
=======
</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 agreement(s).
Pursuant to the Engineering Services Agreement dated June 22,
1994 between Elm Energy and Development, Development has agreed to
provide personnel to supervise the engineering operations and
planning related to the Whole Tyre Recycling Facility at
Wolverhampton. Development is to be paid 250,000 pounds sterling
yearly for these services with invoicing quarterly in arrears.
During 1995, Development earned $385,244 for these services.
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
This schedule contains summary financial information extracted from the
financial statements of NIPSCO Industries, Inc. for twelve months ended
December 31, 1995, and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 3,999,520
<TOTAL-OPERATING-REVENUES> 1,722,325
<NET-INCOME> 175,465
</TABLE>
<PAGE>
Exhibit 99.A
(EXHIBIT A)
December 31, 1995 ORGANIZATION CHART
A.1 NIPSCO Industries, Inc.
A.2 Crossroads Pipeline Company
A.3 801 East Corp.
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.4 Hamilton Harbour Insurance Services, Ltd.
A.5 Kokomo Gas and Fuel Company
A.6 Lakeside Energy Corporation
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.7 NIPSCO Capital Markets, Inc.
A.8 NIPSCO Development Company, Inc.
A.9 Analytic Systems Laboratories, Inc.
A.10 FuelMaker Corporation
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.11 G.R. Clark Corporation
A.12 Green Fuels, Inc.
A.13 Harbor Coal Company
A.14 International Polymer Corp.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.15 JOF Transportation Company
A.16 KOGAF Enterprises, Inc.
A.17 Lake Erie Land Company
A.18 SCC Services, Inc.
A.19 N Squared Aviation, L.L.C.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.20 NDC Douglas Properties, Inc.
A.21 NIPSCO International Power Systems Company
INCOME STATEMENT (No Activity)
A.22 NIPSCO Security Services, Inc.
A.23 Portside Energy Corporation
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.24 Process and Control Technology Corporation
INCOME STATEMENT (No Activity)
A.25 RIC, Inc.
A.26 Cardinal Property Management, Inc.
A.27 Riverside Caloric Company
A.28 NIPSCO Energy Services, Inc.
A.29 Inventory Management and Distribution Company, L.L.C.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.30 NESI Energy Marketing, L.L.C.
A.31 NIPSCO Energy Trading Corp.
A.32 NIPSCO Fuel Company, Inc.
A.33 NFCO Acquisition Company
A.34 Southlake Energy, Inc.
A.35 NI-TEX, Inc.
A.36 Triumph Natural Gas, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.37 North Lake Energy Corporation
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.38 Northern Indiana Fuel and Light Company, Inc.
A.39 Northern Indiana Trading Company
A.40 Northern Indiana Public Service Company
A.41 NIPSCO ESP Services Corporation
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.42 NIPSCO Exploration Company, Inc.
A.43 Shore Line Shops, Incorporated
A.44 Primary Energy, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
<TABLE>
<CAPTION>
A.1 NIPSCO INDUSTRIES, INC.
CONSOLIDATED BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant, At Original Cost
(including construction work in
progress of $145,129):
Electric $3,935,103
Gas 1,301,687
Common 350,168
__________
5,586,958
Less-Accumulated provision for
depreciation and amortization 2,373,694
__________
Total Utility Plant 3,213,264
__________
Other Property and Investments:
Other property, at cost, less accumulated
provision for depreciation 136,006
Investments, at equity 47,565
Investments, at cost 22,899
Other investments 17,315
__________
Total Other Property and Investments 223,785
__________
Current Assets:
Cash and cash equivalents 28,496
Accounts receivable, less reserve of $7,264 120,404
Fuel adjustment clause 10,301
Gas cost adjustment clause 1,423
Materials and supplies, at average cost 65,044
Electric production fuel, at average cost 14,258
Natural gas in storage 60,884
Payments and other 15,771
__________
Total Current Assets 316,581
__________
Other Assets:
Regulatory assets 212,491
Deferred charges and other non-current assets 33,399
__________
Total Other Assets 245,890
__________
TOTAL ASSETS $3,999,520
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shareholders' equity $1,122,215
Preferred stocks -
Northern Indiana Public Service Company:
Series without mandatory redemption provisions 81,325
Series with mandatory redemption provisions 63,651
NIPSCO Industries, Inc.:
Series with mandatory redemption provisions 35,000
Long-term debt, excluding amounts due within one year 1,175,728
__________
Total Capitalization 2,477,919
__________
Current Liabilities:
Obligations due within one year -
Northern Indiana Public Service Company:
Commercial paper 44,800
Medium-term notes -
Issued at interest rates of 6.14% and 6.19%
with a weighted average interest rate of
6.17% and maturities of July 25, 1996 and
July 26, 1996 80,000
Notes payable -
Issued at interest rates between 5.91%
and 6.15% with a weighted average
interest rate of 5.99% and various
maturities between January 2, 1996
and February 9, 1996 118,800
NIPSCO Capital Markets, Inc.:
Commercial paper 76,700
Notes payable -
5.98% - due January 19, 1996 17,400
Medium-term notes -
9.95% - due June 10, 1996 7,500
Lake Erie Land Company:
Notes payable 4,200
Elm Energy and Recycling (UK), Ltd.:
Term loan facility 4,554
Standby loan facility 1,732
NDC Douglas Properties, Inc.:
Notes payable 1,840
__________
357,526
__________
Other Current Liabilities -
Accounts payable 151,691
Sinking funds due within one year 2,621
Dividends declared on common and preferred stocks 28,179
Customer deposits 11,361
Taxes accrued 28,952
Interest accrued 8,439
Accrued employment costs 46,695
Other 33,753
__________
311,691
__________
Total Current Liabilities 669,217
__________
Other:
Deferred income taxes 596,940
Deferred investment tax credits, being
amortized over life of related property 115,666
Deferred credits 45,126
Accrued liability for postretirement benefits 75,012
Regulatory income tax liability 9,845
Other noncurrent liabilities 9,795
__________
Total Other 852,384
__________
TOTAL LIABILITIES $3,999,520
==========
<CAPTION>
CONSOLIDATED STATEMENT OF CAPITALIZATION
<S> <C>
Common shareholders' equity $1,122,215
__________
Preferred Stocks, Which Are Redeemable Solely
At Option of Issuer:
Northern Indiana Public Service Company -
Cumulative preferred stock - $100 par value
4-1/4% series - 209,190 shares outstanding 20,919
4-1/2% series - 79,996 shares outstanding 8,000
4.22% series - 106,198 shares outstanding 10,620
4.88% series - 100,000 shares outstanding 10,000
7.44% series - 41,890 shares outstanding 4,189
7.50% series - 34,842 shares outstanding 3,484
Premium on preferred stock 254
Cumulative preferred stock - no par value -
Adjustable Rate (6.00% at December 31, 1995) -
Series A (stated value - $50 per share),
477,185 shares outstanding 23,859
__________
81,325
__________
Redeemable Preferred Stocks, Subject to Mandatory
Redemption Requirements or Whose Redemption
Is Outside the Control of Issuer:
Northern Indiana Public Service Company -
Cumulative preferred stock - $100 par value -
8.85% series - 87,500 shares outstanding 8,750
7-3/4% series - 50,014 shares outstanding 5,001
8.35% series - 69,000 shares outstanding 6,900
Cumulative preferred stock - no par value -
6.50% series - 430,000 shares outstanding 43,000
__________
63,651
__________
NIPSCO Industries, Inc. -
Cumulative preferred shares - without
par value - 8.75% series (stated value -
$100 per share), 350,000 shares outstanding 35,000
__________
Long-term Debt 1,175,728
__________
TOTAL CAPITALIZATION $2,477,919
==========
<CAPTION>
CONSOLIDATED STATEMENT OF LONG-TERM DEBT
<S> <C>
Northern Indiana Public Service Company:
First mortgage bonds -
Series O, 6-3/8% - due September 1, 1997 $ 25,747
Series P, 6-7/8% - due October 1, 1998 14,509
Series T, 7-1/2% - due April 1, 2002 40,500
Series NN, 7.10% - due July 1, 2017 55,000
__________
Total 135,756
__________
Pollution control notes and bonds -
Series A note - City of Michigan City -
5.70% due October 1, 2003 20,000
Series 1988 bonds - Jasper County -
Series A, B and C
3.70% weighted average at December 31, 1995,
due November 1, 2016 130,000
Series 1988 bonds - Jasper County - Series D
3.76% weighted average at December 31, 1995,
due November 1, 2007 24,000
Series 1994 Bonds - Jasper County - Series A
5.90% at December 31, 1995, due August 1, 2010 10,000
Series 1994 bonds - Jasper County - Series B
5.90% at December 31, 1995, due June 1, 2013 18,000
Series 1994 bonds - Jasper County - Series C
5.90% at December 31, 1995, due April 1, 2019 41,000
__________
Total 243,000
__________
Medium-term Notes -
Issued at interest rates between 5.83% and
7.64%, with a weighted average interest
rate of 6.82% and various maturities
between July 25, 1997 and January 19, 2024 684,025
__________
Unamortized premium and discount on
long-term debt, net (4,040)
__________
Total Long-term Debt of
Northern Indiana Public Service Company 1,058,741
__________
NIPSCO Capital Markets, Inc.:
Zero Coupon Notes - 7.57%, $72,500 at maturity,
due December 1, 1997 62,875
__________
Total Long-Term Debt of
NIPSCO Capital Markets, Inc. 62,875
__________
NIPSCO Development Company, Inc.:
Lake Erie Land Company - Notes Payable -
Interest rates between 8.00% and 8.50% with
a weighted average interest rate of 8.39%
and various maturities between May 23, 1997
and June 30, 1998 389
Elm Energy and Recycling (UK), Ltd. Term Loan
Facility - weighted average interest rate of
8.21% at December 31, 1995, due
December 31, 2004 34,516
NDC Douglas Properties, Inc. - Notes Payable -
Interest rates between 6.72% and 7.94% with a
weighted average interest rate of 7.72% and
maturities through January 1, 2006 19,207
__________
Total Long-term Debt of
NIPSCO Development Company, Inc. 54,112
__________
TOTAL LONG-TERM DEBT,
EXCLUDING AMOUNTS DUE IN ONE YEAR $1,175,728
==========
</TABLE>
<TABLE>
<CAPTION>
A.1 NIPSCO INDUSTRIES, INC.
CONSOLIDATED INCOME STATEMENT
December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 691,402
Electric 1,030,923
__________
1,722,325
__________
Cost of Energy:
Gas costs 399,113
Fuel for electric generation 242,337
Power purchased 43,681
__________
685,131
__________
Operating Margin 1,037,194
__________
Operating Expenses and Taxes (except income):
Operation 290,951
Maintenance 78,293
Depreciation and amortization 201,137
Taxes (except income) 73,452
__________
643,833
__________
Operating Income Before Utility Income Taxes 393,361
__________
Utility Income Taxes 108,449
__________
Operating Income 284,912
__________
Other Income (Deductions) (4,241)
__________
Interest and Other Charges:
Interest on long-term debt 82,655
Other interest 12,781
Allowance for borrowed funds used during
construction and carrying charges (3,678)
Amortization of premium, reacquisition
premium, discount and expense on debt, net 4,402
Dividend requirements on preferred stocks
of subsidiary 9,046
__________
105,206
__________
Net Income 175,465
Dividend Requirements on Preferred Shares 3,063
__________
Balance Available for Common Shareholders $ 172,402
==========
Average Common Shares Outstanding 63,281,177
==========
Earnings Per Average Common Share $ 2.72
==========
Dividends Declared Per Common Share $ 1.59
==========
</TABLE>
<TABLE>
<CAPTION>
CONSOLIDATED STATEMENT OF COMMON SHAREHOLDERS' EQUITY
December 31, 1995
(Dollars in Thousands)
______________________________________
Additional
Common Paid-In
Total Shares Capital
============================== ========== ========== ==========
<S> <C> <C> <C>
Balance, December 31, 1994 $1,107,848 $ 870,930 $ 29,657
Net income 175,465
Dividends:
Preferred shares (3,063)
Common shares (100,232)
Treasury shares acquired (69,183)
Issued:
Employee stock purchase plan 604 301
Long-term incentive plan 6,785 1,656
Unrealized gain on
available for sale
securities 1,669
Amortization of unearned
compensation 2,413
Other (91) 596
__________ __________ __________
Balance, December 31, 1995 $1,122,215 $ 870,930 $ 32,210
========== ========== ==========
<CAPTION>
(Dollars in Thousands)
______________________________________
Currency
Retained Treasury Translation
Earnings Shares Adjustment
============================== ========== ========== ==========
<S> <C> <C> <C>
Balance, December 31, 1994 $ 446,928 $ (237,193) $ (1,504)
Net income 175,465
Dividends:
Preferred shares (3,063)
Common shares (100,232)
Treasury shares acquired (69,183)
Issued:
Employee stock purchase plan 303
Long-term incentive plan 12,850
Unrealized gain on
available for sale
securities
Amortization of unearned
compensation
Other (261) (426)
__________ __________ __________
Balance, December 31, 1995 $ 518,837 $ (293,223) $ (1,930)
========== ========== ==========
<CAPTION>
(Dollars in
Thousands) Shares
____________ ________________________
Common Treasury
Other Shares Shares
============================== ========== ========== ==========
<S> <C> <C> <C>
Balance, December 31, 1994 $ (970) 73,892,109 (9,986,720)
Net income
Dividends:
Preferred shares
Common shares
Treasury shares acquired (2,057,665)
Issued:
Employee stock purchase plan 19,022
Long-term incentive plan (7,721) 512,850
Unrealized gain on
available for sale
securities 1,669
Amortization of unearned
compensation 2,413
Other
__________ __________ __________
Balance, December 31, 1995 $ (4,609) 73,892,109 (11,512,513)
========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
A.2 CROSSROADS PIPELINE COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility plant $ 29,532
Less - accumulated provision for depreciation
and amortization (1,007)
__________
Total Utility Plant 28,525
__________
Current Assets:
Cash and cash equivalents 57
Accounts receivable, less reserve 3,156
Prepayments and other 106
__________
Total Current Assets 3,319
__________
TOTAL ASSETS $ 31,844
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (1,165)
Retained earnings - current year (1,283)
__________
Total Capitalization (2,447)
__________
Current Liabilities:
Total accounts payable 1,956
Taxes accrued 75
Notes payable to associated companies 31,980
__________
Total Current Liabilities 34,011
__________
Other:
Deferred income taxes 254
Deferred credits 26
__________
Total Other 280
__________
TOTAL LIABILITIES $ 31,844
==========
</TABLE>
<TABLE>
<CAPTION>
A.2 CROSSROADS PIPELINE COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 1,751
__________
Total Operating Revenues 1,751
__________
Operating Expenses and Taxes:
Gas costs (190)
Operation expenses 831
Administrative and general expenses 1,191
Taxes other than income (15)
Interest expense 1,972
Tax expense (755)
__________
Total Operating Expenses and Taxes 3,034
__________
NET INCOME (LOSS) $ (1,283)
==========
</TABLE>
<TABLE>
<CAPTION>
A.2 CROSSROADS PIPELINE COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (1,165)
Net Income (1,283)
__________
BALANCE AT END OF YEAR $ (2,448)
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 801 EAST CORP.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 936
Other accounts receivable 90
Accounts receivable - associated companies 936
__________
Total Current Assets 1,962
__________
$ 1,962
TOTAL ASSETS ==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common Shares without par value $ 1
__________
Total Capitalization 1
__________
Current Liabilities:
Total accounts payable 783
Taxes accrued (20)
Notes payable to associated companies 770
Taxes withheld payables (42)
__________
Total Current Liabilities 1,491
__________
Other:
Deferred credits 470
__________
Total Other 470
__________
TOTAL LIABILITIES $ 1,962
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 801 EAST CORP.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 801 East Corp.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Accounts receivable - associated companies $ 2
__________
Total Current Assets 2
__________
TOTAL ASSETS $ 2
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings - current year (3)
__________
Total Capitalization (2)
__________
Current Liabilities:
Total accounts payable 2
Notes payable to associated companies 2
__________
Total Current Liabilities 4
__________
TOTAL LIABILITIES $ 2
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Expenses and Taxes:
Administrative and general expenses $ 5
Tax Expense (2)
__________
Total Operating Expenses and Taxes 3
__________
NET INCOME (LOSS) $ (3)
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Net Income $ (3)
__________
BALANCE AT END OF YEAR $ (3)
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 KOKOMO GAS AND FUEL COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility Plant $ 69,143
Less - accumulated provision for depreciation (26,033)
__________
Total Utility Plant 43,110
__________
Other Property and Investments:
Investments at cost 5
__________
Total Other Property and Investments 5
__________
Current Assets:
Cash and cash equivalents 2,228
Accounts receivable, less reserve 4,291
Gas cost adjustment clause (2,311)
Material and supplies at average cost 331
Natural gas in storage, weighted average 1,645
Prepayments and other 7,037
__________
Total Current Assets 13,221
__________
Other Assets:
Regulatory assets 210
Deferred charges and other 48
__________
Total Other Assets 258
__________
TOTAL ASSETS $ 56,594
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 46,170
Retained earnings (745)
__________
Total Capitalization 45,425
__________
Current Liabilities:
Total accounts payable 3,545
Customer deposits 457
Taxes accrued 622
Interest accrued 140
Other accruals 944
__________
Total Current Liabilities 5,708
__________
Other:
Deferred income taxes 2,742
Deferred income tax credits amortized 717
Deferred credits 6
Regulatory income tax liability 1,686
Other non-current liabilities 310
__________
Total Other 5,461
__________
TOTAL LIABILITIES $ 56,594
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 KOKOMO GAS AND FUEL COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 26,919
Other income (24)
__________
Total Revenues 26,895
__________
Operating Expenses and Taxes:
Gas costs 15,268
Operation expenses 3,375
Administrative and general expenses 3,740
Taxes other than income 922
Interest expense 26
Tax expense 1,304
__________
Total Operating Expenses and Taxes 24,635
__________
NET INCOME (LOSS) $ 2,260
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 KOKOMO GAS AND FUEL COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (605)
Net Income 2,260
Dividends declared common (2,400)
__________
BALANCE AT END OF YEAR $ (745)
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 LAKESIDE ENERGY CORPORATION
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
<S> <C>
ASSETS
Current Assets:
Cash and cash equivalents $ 23
Other accounts receivable 11,176
__________
Total Current Assets 11,199
__________
TOTAL CURRENT ASSETS $ 11,199
==========
CAPITALIZATION AND LIABILITIES
Capitalization:
Common shares without par value $ 1
__________
Total Capitalization 1
__________
Current Liabilities:
Total accounts payable 82
Notes payable to associated companies 11,116
__________
Total Current Liabilities 11,198
__________
TOTAL LIABILITIES $ 11,199
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 LAKESIDE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 LAKESIDE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NIPSCO CAPITAL MARKETS, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 7
Accounts receivable - associated companies 1,278
Notes receivable - associated companies 167,106
Prepayments 364
__________
Total Current Assets 168,755
__________
Other Assets:
Deferred charges and other 292
__________
Total Other Assets 292
__________
TOTAL ASSETS $ 169,047
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1,000
Retained earnings 2,571
Retained earnings - current year 640
NIPSCO Industries, Inc:
Long-term debt other 62,878
Unamortized discount - long term debt (2)
__________
Total Capitalization 67,087
__________
Current Liabilities:
Commercial paper - NIPSCO Capital Markets, Inc. 76,700
Notes payable - NIPSCO Capital Markets, Inc. 17,400
Medium-term notes - NIPSCO Capital Markets, Inc. 7,500
Other Current Liabilities:
Total accounts payable 227
Interest accrued 133
__________
Total Current Liabilities 101,960
__________
TOTAL LIABILITIES $ 169,047
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NIPSCO CAPITAL MARKETS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 11,184
__________
Total Operating Revenues 11,184
__________
Operating Expenses and Taxes:
Administrative and general expenses 103
Taxes other than income 1
Interest expense 10,058
Tax expense 382
__________
Total Operating Expenses and Taxes 10,544
__________
NET INCOME (LOSS) $ 640
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NIPSCO CAPITAL MARKETS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 2,571
Net Income 640
__________
BALANCE AT END OF YEAR $ 3,211
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 NIPSCO DEVELOPMENT COMPANY, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 102
Notes receivable 592
Other accounts receivable 658
Accounts receivable - associated companies 6,423
Notes receivable - associated companies 1,515
Prepayments 21
__________
Total Current Assets 9,311
__________
Other Property and Investments:
Other property at cost less depreciation 10,753
Investments at equity 27,111
Investments at cost 7,314
__________
Total Other Property and Investments 45,178
__________
Other Assets:
Deferred charges and other (103)
__________
Total Other Assets (103)
__________
TOTAL ASSETS $ 54,386
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Foreign currency translation adjustment (2,023)
Retained earnings (15,284)
Retained earnings - current year (9,965)
__________
Total Capitalization (27,271)
__________
Current Liabilities:
Total accounts payable 4,146
Taxes accrued 676
Notes payable to associated companies 78,593
Taxes withheld payables (4)
__________
Total Current Liabilities 83,411
__________
Other:
Deferred income taxes (2,086)
Deferred credits 332
__________
Total Other (1,754)
__________
TOTAL LIABILITIES $ 54,386
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 NIPSCO DEVELOPMENT COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 3,846
Other income 353
__________
Total Revenues 4,199
__________
Operating Expenses and Taxes:
Administrative and general expenses 2,768
Taxes other than income 45
Depreciation expense 337
Amortization and depletion 153
Interest expense 5,729
Tax expense (1,596)
__________
Total Operating Expenses and Taxes 7,436
__________
Income (Loss) Before Subsidiaries (3,237)
__________
Subsidiary Gain (Loss) (6,728)
__________
NET INCOME (LOSS) $ (9,965)
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 NIPSCO DEVELOPMENT COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (15,284)
Net Income (9,965)
__________
BALANCE AT END OF YEAR $ (25,249)
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 ANALYTIC SYSTEMS LABORATORIES, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 106
Other accounts receivable 204
Material and supplies at average cost 124
Prepayments 7
__________
Total Current Assets 441
__________
Other Property and Investments:
Other property at cost less depreciation 86
__________
Total Other Property and Investments 86
__________
Other Assets:
Deferred charges and other 3
__________
Total Other Assets 3
__________
TOTAL ASSETS $ 530
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 561
Retained earnings (2,607)
Retained earnings - current year (143)
__________
Total Capitalization (2,189)
__________
Current Liabilities:
Total accounts payable 1,200
Notes payable to associated companies 1,515
Other accruals 4
__________
Total Current Liabilities 2,719
__________
TOTAL LIABILITIES $ 530
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 ANALYTIC SYSTEMS LABORATORIES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 1,494
Other income 19
__________
Total Revenue 1,513
__________
Operating Expenses and Taxes:
Operating expenses 608
Administrative and general expenses 758
Taxes other than income 27
Depreciation expense 42
Interest expense 221
__________
Total Operating Expenses and Taxes 1,656
__________
NET INCOME (LOSS) $ (143)
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 ANALYTIC SYSTEMS LABORATORIES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (2,607)
Net Income (143)
__________
BALANCE AT END OF YEAR $ (2,750)
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 FUELMAKER CORPORATION
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 FUELMAKER CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 FUELMAKER CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.11 G. R. CLARK CORPORATION
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 708
Other accounts receivable 713
Accounts receivable - associated companies 21
Prepayments 6
__________
Total Current Assets 1,448
__________
Other Property and Investments:
Other property at cost less depreciation 12
__________
Total Other Property and Investments 12
__________
Other Assets:
Deferred Charges and Other 5
__________
Total Other Assets 5
__________
TOTAL ASSETS $ 1,465
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 2,236
Retained earnings (986)
Retained earnings - current year (20)
__________
Total Capitalization 1,231
__________
Current Liabilities:
Total accounts payable 43
Other accruals 21
__________
Total Current Liabilities 64
__________
Other:
Deferred income taxes 170
__________
Total Other 170
__________
TOTAL LIABILITIES $ 1,465
==========
</TABLE>
<TABLE>
<CAPTION>
A.11 G. R. CLARK CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Other income $ 36
__________
Total Revenues 36
__________
Operating Expenses and Taxes:
Administrative and general expenses 24
Tax expense 32
__________
Total Operating Expenses and Taxes 56
__________
NET INCOME (LOSS) $ (20)
==========
</TABLE>
<TABLE>
<CAPTION>
A.11 G. R. CLARK CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (986)
Net Income (20)
__________
BALANCE AT END OF YEAR $ (1,006)
==========
</TABLE>
<TABLE>
<CAPTION>
A.12 GREEN FUELS, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1
Accounts receivable - associated companies 42
__________
Total Current Assets 43
__________
TOTAL ASSETS $ 43
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings - current year (70)
__________
Total Capitalization (69)
__________
Current Liabilities:
Total accounts payable 30
Notes payable to associated companies 82
__________
Total Current Liabilities 112
__________
TOTAL LIABILITIES $ 43
==========
</TABLE>
<TABLE>
<CAPTION>
A.12 GREEN FUELS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Expenses and Taxes:
Administrative and general expenses $ 110
Interest expense 3
Tax expense (43)
__________
Total Operating Expenses and Taxes 70
__________
NET INCOME (LOSS) $ (70)
==========
</TABLE>
<TABLE>
<CAPTION>
A.12 GREEN FUELS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Net Income $ (70)
__________
BALANCE AT END OF YEAR $ (70)
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 HARBOR COAL COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 8
Accounts receivable - associated companies 1,854
Prepayments 33
__________
Total Current Assets 1,895
__________
Other Property and Investments:
Investments at equity 443
__________
Total Other Property and Investments 443
__________
TOTAL ASSETS $ 2,338
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (3,576)
Retained earnings - current year 392
__________
Total Capitalization (3,183)
__________
Current Liabilities:
Total accounts payable 2,161
Notes payable to associated companies 6,555
__________
Total Current Liabilities 8,716
__________
Other:
Deferred income taxes (3,195)
__________
Total Other (3,195)
__________
TOTAL LIABILITIES $ 2,338
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 HARBOR COAL COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 1,447
__________
Total Operating Revenues 1,447
__________
Operating Expenses and Taxes:
Administrative and general expenses 187
Taxes other than income 16
Interest expense 608
Tax expense 244
__________
Total Operating Expenses and Taxes 1,055
__________
NET INCOME (LOSS) $ 392
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 HARBOR COAL COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (3,576)
Net Income 392
__________
BALANCE AT END OF YEAR $ (3,184)
==========
</TABLE>
<TABLE>
<CAPTION>
A.14 INTERNATIONAL POLYMER CORP.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.14 INTERNATIONAL POLYMER CORP.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.14 INTERNATIONAL POLYMER CORP.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 JOF TRANSPORTATION COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 553
Other accounts receivable 9
Accounts receivable - associated companies 158
__________
Total Current Assets 720
__________
Other Property and Investments:
Investments at equity 2,785
__________
Total Other Property and Investments 2,785
__________
TOTAL ASSETS $ 3,505
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 3,954
Retained earnings - current year 1,465
Dividends: common shares (3,300)
__________
Total Capitalization 2,120
__________
Current Liabilities:
Total accounts payable 962
Taxes accrued (39)
__________
Total Current Liabilities 923
__________
Other:
Deferred income taxes 462
__________
Total Other 462
__________
TOTAL LIABILITIES $ 3,505
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 JOF TRANSPORTATION COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 2,347
Other income 66
__________
Total Revenues 2,413
__________
Operating Expenses and Taxes:
Administrative and general expenses 51
Taxes other than income 24
Tax expense 873
__________
Total Expenses and Taxes 948
__________
NET INCOME (LOSS) $ 1,465
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 JOF TRANSPORTATION COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 3,954
Net Income 1,465
Dividends declared common (3,300)
__________
BALANCE AT END OF YEAR $ 2,119
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 KOGAF ENTERPRISES, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 210
Notes receivable 425
Other accounts receivable 633
Notes receivable - associated companies 700
__________
Total Current Assets 1,968
__________
Other Property and Investments:
Other property at cost less depreciation 243
Investments at equity 85
__________
Total Other Property and Investments 328
__________
TOTAL ASSETS $ 2,296
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 2,103
Retained earnings 216
Retained earnings - current year (243)
__________
Total Capitalization 2,076
__________
Current Liabilities:
Total accounts payable 236
__________
Total Current Liabilities 236
__________
Other:
Deferred income taxes (16)
__________
Total Other (16)
__________
TOTAL LIABILITIES $ 2,296
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 KOGAF Enterprises, Inc.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 145
Other income (75)
__________
Total Revenues 70
__________
Operating Expenses and Taxes:
Administrative and general expenses 70
Tax expense 243
__________
Total Operating Expenses and Taxes 313
__________
NET INCOME (LOSS) $ (243)
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 KOGAF ENTERPRISES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 216
Net Income (243)
__________
BALANCE AT END OF YEAR $ (27)
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 LAKE ERIE LAND COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 678
Notes receivable 250
Other accounts receivable 344
Accounts receivable - associated companies 1,572
Prepayments 140
__________
Total Current Assets 2,984
__________
Other Property and Investments:
Other property at cost less depreciation 5,434
Investments at equity (140)
Investments at cost 14,105
__________
Total Other Property and Investments 19,399
__________
TOTAL ASSETS $ 22,383
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in capital 14,883
Retained earnings (2,903)
Retained earnings - current year (1,433)
Long term debt excluding amounts due 3,180
__________
Total Capitalization 13,728
__________
Current Liabilities:
Total accounts payable 514
Customer deposits 4
Taxes accrued 66
Notes payable to associated companies 6,640
Other accruals 1,409
__________
Total Current Liabilities 8,633
__________
Other:
Deferred income taxes 22
__________
Total Other 22
__________
TOTAL LIABILITIES $ 22,383
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 LAKE ERIE LAND COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 2,237
Other income 32
__________
Total Revenues 2,269
__________
Operating Expenses and Taxes:
Operating expenses 1,601
Administrative and general expenses 1,293
Taxes other than income 98
Depreciation expense 433
Interest expense 830
Tax expense (749)
__________
Total 3,506
__________
Income (Loss) Before Subsidiaries (1,237)
__________
Subsidiary Gain (Loss) (196)
__________
NET INCOME (LOSS) $ (1,433)
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 LAKE ERIE LAND COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (2,903)
Net Income (1,433)
__________
BALANCE AT END OF YEAR $ (4,336)
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 SCC SERVICES, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 86
Other accounts receivable 107
Material and supplies at average cost 147
__________
Total Current Assets 340
__________
Other Assets:
Deferred charges and other 41
__________
Total Other Assets 41
__________
TOTAL ASSETS $ 381
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 57
Retained earnings (2)
Retained earnings - current year (196)
__________
Total Capitalization (140)
__________
Current Liabilities:
Total accounts payable 436
__________
Total Current Liabilities 436
__________
Other:
Deferred credits 85
__________
Total Other 85
__________
TOTAL LIABILITIES $ 381
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 SCC SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 3,026
__________
Total Operating Revenues 3,026
__________
Operating Expenses and Taxes:
Administrative and general expenses 3,192
Taxes other than income 143
Interest expense 4
Tax expense (117)
__________
Total Operating Expenses and Taxes 3,222
__________
NET INCOME (LOSS) $ (196)
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 SCC SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (2)
Net Income (196)
__________
BALANCE AT END OF YEAR $ (198)
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 N SQUARED AVIATION, L.L.C.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 N SQUARED AVIATION, L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 N SQUARED AVIATION, L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 NDC DOUGLAS PROPERTIES, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1
Notes receivable 30
Accounts receivable - associated companies 2,167
__________
Total Current Assets 2,198
__________
Other Property and Investments:
Investments at equity 21,933
__________
Total Other Property and Investments 21,933
__________
TOTAL ASSETS $ 24,131
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (325)
Retained earnings - current year 222
Long term debt excluding amounts due 19,206
__________
Total Capitalization 19,104
__________
Current Liabilities:
Total accounts payable 60
Interest accrued 970
Notes payable to associated companies 1,862
Other accruals 1,840
__________
Total Current Liabilities 4,732
__________
Other:
Deferred income taxes 295
__________
Total Other 295
__________
TOTAL LIABILITIES $ 24,131
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 NDC DOUGLAS PROPERTIES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ (830)
Other income 5
__________
Total Revenues (825)
__________
Operating Expenses and Taxes:
Administrative and general expenses 137
Taxes other than income (1)
Interest expense 1,323
Tax expense (2,506)
__________
Total Operating Expenses and Taxes (1,047)
__________
NET INCOME (LOSS) $ 222
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 NDC DOUGLAS PROPERTIES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (325)
Net Income 222
__________
BALANCE AT END OF YEAR $ (103)
==========
</TABLE>
<TABLE>
<CAPTION>
A.21 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1
__________
Total Current Assets 1
__________
TOTAL ASSETS $ 1
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (1)
__________
Total Capitalization 0
__________
Current Liabilities:
Notes payable to associated companies 1
__________
Total Current Liabilities 1
__________
TOTAL LIABILITIES $ 1
==========
</TABLE>
<TABLE>
<CAPTION>
A.21 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.21 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (1)
Net Income 0
__________
BALANCE AT END OF YEAR $ (1)
==========
</TABLE>
<TABLE>
<CAPTION>
A.22 NIPSCO SECURITY SERVICES, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 80
Other accounts receivable 144
Reserve - customer accounts (54)
Accounts receivable - associated companies 585
Material and supplies at average cost 123
Prepayments 2
__________
Total Current Assets 880
__________
Other Property and Investments:
Other property at cost less depreciation 24
__________
Total Other Property and Investments 24
__________
TOTAL ASSETS $ 904
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 54
Retained earnings (297)
Retained earnings - current year (943)
__________
Total Capitalization (1,185)
__________
Current Liabilities:
Total accounts payable 147
Customer deposits 24
Taxes accrued 1
Notes payable to associated companies 1,923
Taxes withheld payables (6)
__________
Total Current Liabilities 2,089
__________
TOTAL LIABILITIES $ 904
==========
</TABLE>
<TABLE>
<CAPTION>
A.22 NIPSCO SECURITY SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 494
__________
Total Operating Revenues 494
__________
Operating Expenses and Taxes:
Operating expenses 698
Administrative and general expenses 1,157
Taxes other than income 62
Depreciation expense 1
Interest expense 87
Tax expense (568)
__________
Total Operating Expenses and Taxes 1,437
__________
NET INCOME (LOSS) $ (943)
==========
</TABLE>
<TABLE>
<CAPTION>
A.22 NIPSCO SECURITY SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (297)
Net Income (943)
__________
BALANCE AT END OF YEAR $ (1,240)
==========
</TABLE>
<TABLE>
<CAPTION>
A.23 PORTSIDE ENERGY CORPORATION
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Other accounts receivable $ 61
__________
Total Current Assets 61
__________
$ 61
TOTAL ASSETS ==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common Shares without par value $ 1
__________
Total Capitalization 1
__________
Current Liabilities:
Total accounts payable 12
Notes payable to associated companies 48
__________
Total Current Liabilities 60
__________
TOTAL LIABILITIES $ 61
==========
</TABLE>
<TABLE>
<CAPTION>
A.23 PORTSIDE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.23 PORTSIDE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.24 PROCESS AND CONTROL TECHNOLOGY CORPORATION
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Other Assets:
Deferred charges and other $ 1,184
__________
Total Other Assets 1,184
__________
TOTAL ASSETS $ 1,184
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Additional paid-in-capital $ 800
Retained earnings (755)
__________
Total Capitalization 45
__________
Current Liabilities:
Total accounts payable 1,118
Other accruals 21
__________
Total Current Liabilities 1,139
__________
TOTAL LIABILITIES $ 1,184
==========
</TABLE>
<TABLE>
<CAPTION>
A.24 PROCESS AND CONTROL TECHNOLOGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.24 PROCESS AND CONTROL TECHNOLOGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (755)
Net Income 0
__________
BALANCE AT END OF YEAR $ (755)
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 RIC, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 5
Accounts receivable - associated companies 170
__________
Total Current Assets 175
__________
Other Property and Investments:
Other property at cost less depreciation 12
Investments at equity (11)
__________
Total Other Property and Investments 1
__________
TOTAL ASSETS $ 176
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 350
Retained earnings (3,173)
Retained earnings - current year (193)
__________
Total Capitalization (3,015)
__________
Current Liabilities:
Total accounts payable 62
Customer deposits 1
Notes payable to associated companies 3,005
__________
Total Current Liabilities 3,068
__________
Other:
Deferred income taxes 122
Deferred credits 1
__________
Total Other 123
__________
TOTAL LIABILITIES $ 176
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 RIC, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Expenses and Taxes:
Administrative and general expenses $ 84
Depreciation expense 2
Interest expense 241
Tax expense (119)
__________
Total Operating Expenses and Taxes 208
__________
Income (Loss) Before Subsidiaries (208)
__________
Subsidiary Gain (Loss) 15
__________
NET INCOME (LOSS) $ (193)
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 RIC, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (3,173)
Net Income (193)
__________
BALANCE AT END OF YEAR $ (3,366)
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 CARDINAL PROPERTY MANAGEMENT, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 33
Other accounts receivable 6
Accounts receivable - associated companies 79
__________
Total Current Assets 118
__________
Other Property and Investments:
Other property at cost less depreciation 24
__________
Total Other Property and Investments 24
__________
TOTAL ASSETS $ 142
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (28)
Retained earnings - current year 15
__________
Total Capitalization (12)
__________
Current Liabilities:
Total accounts payable 96
Customer deposits 10
Taxes accrued 1
Notes payable to associated companies 25
__________
Total Current Liabilities 132
__________
Other:
Deferred income taxes 4
Deferred credits 18
__________
Total Other 22
__________
TOTAL LIABILITIES $ 142
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 CARDINAL PROPERTY MANAGEMENT, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 443
__________
Total Revenues 443
__________
Operating Expenses and Taxes:
Administrative and general expenses 405
Taxes other than income 7
Depreciation expense 4
Interest expense 5
Tax expense 7
__________
Total Operating Expenses and Taxes 428
__________
NET INCOME (LOSS) $ 15
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 CARDINAL PROPERTY MANAGEMENT, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (28)
Net Income 15
__________
BALANCE AT END OF YEAR $ (13)
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 RIVERSIDE CALORIC COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 7
Accounts receivable - associated companies 122
__________
Total Current Assets 129
__________
Other Property and Investments:
Other property at cost less depreciation 235
Investments at equity 1,711
__________
Total Other Property and Investments 1,946
__________
TOTAL ASSETS $ 2,075
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (74)
Retained earnings - current year (153)
__________
Total Capitalization (226)
__________
Current Liabilities:
Total accounts payable 84
Taxes accrued (16)
Notes payable to associated companies 2,312
__________
Total Current Liabilities 2,380
__________
Other:
Deferred income taxes (79)
__________
Total Other (79)
__________
TOTAL LIABILITIES $ 2,075
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 RIVERSIDE CALORIC COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ (288)
__________
Total Operating Revenues (288)
___________
Operating Expenses and Taxes:
Administrative and general expenses 31
Interest expense (59)
Tax expense (107)
__________
Total Operating Expenses and Taxes (135)
__________
NET INCOME (LOSS) $ (153)
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 RIVERSIDE CALORIC COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (74)
Net Income (153)
__________
BALANCE AT END OF YEAR $ (227)
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 NIPSCO ENERGY SERVICES, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1,456
Other accounts receivable (898)
Accounts receivable - associated companies 7,602
__________
Total Current Assets 8,160
__________
Other Property and Investments:
Other property at cost less depreciation 336
Investments at equity 9,903
__________
Total Other Property and Investments 10,239
__________
Other Assets:
Deferred charges and other 1,993
__________
Total Other Assets 1,993
__________
TOTAL ASSETS $ 20,392
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 679
Retained earnings - current year 730
__________
Total Capitalization 1,410
__________
Current Liabilities:
Total accounts payable 6,111
Taxes accrued (5)
Notes payable to associated companies 13,646
Taxes withheld payables (41)
__________
Total Current Liabilities 19,711
__________
Other:
Deferred income taxes 3
Deferred credits (732)
__________
Total Other (729)
__________
TOTAL LIABILITIES $ 20,392
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 NIPSCO ENERGY SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ (1,744)
Other income (1)
__________
Total Revenues (1,745)
__________
Operating Expenses and Taxes:
Administrative and general expenses 1,450
Taxes other than income 39
Depreciation expense 3
Interest expense 734
Tax expense (1,414)
__________
Total Operating Expenses and Taxes 812
__________
Income (Loss) Before Subsidiaries (2,557)
__________
Subsidiary Gain (Loss) 3,287
__________
NET INCOME (LOSS) $ 730
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 NIPSCO ENERGY SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 679
Net Income 730
__________
BALANCE AT END OF YEAR $ 1,409
==========
</TABLE>
<TABLE>
<CAPTION>
A.29 INVENTORY MANAGEMENT AND
DISTRIBUTION COMPANY, L.L.C.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.29 INVENTORY MANAGEMENT AND
DISTRIBUTION COMPANY, L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.29 INVENTORY MANAGEMENT AND
DISTRIBUTION COMPANY, L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 NESI ENERGY MARKETING, L.L.C.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Other accounts receivable $ 6,295
Accounts receivable - associated companies 5,337
Natural gas in storage, weighted average 130
Prepayments 10
__________
Total Current Assets 11,772
__________
Other Property and Investments:
Other property at cost less depreciation 98
__________
Total Other Property and Investments 98
__________
TOTAL ASSETS $ 11,870
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Additional paid-in-capital $ 151
Retained earnings - current year 511
__________
Total Capitalization 662
__________
Current Liabilities:
Total accounts payable 10,108
Notes payable to associated companies 1,100
__________
Total Current Liabilities 11,208
__________
TOTAL LIABILITIES $ 11,870
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 NESI ENERGY MARKETING, L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 18,476
__________
Total Operating Revenue 18,476
__________
Operating Expenses and Taxes:
Operating expenses 17,514
Administrative and general expenses 433
Taxes other than income 3
Depreciation expense 5
Interest expense 10
__________
Total Operating Expenses and Taxes 17,965
__________
NET INCOME (LOSS) $ 511
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 NESI ENERGY MARKETING, L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Net Income $ 511
__________
BALANCE AT END OF YEAR $ 511
==========
</TABLE>
<TABLE>
<CAPTION>
A.31 NIPSCO ENERGY TRADING CORP.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 2,731
Other accounts receivable 68
Reserve - customer accounts (464)
Accounts receivable - associated companies 480
__________
Total Current Assets 2,815
__________
TOTAL ASSETS $ 2,815
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 4,482
Retained earnings - current year 216
Dividends - common shares (3,500)
__________
Total Capitalization 1,199
__________
Current Liabilities:
Total accounts payable 1,741
Taxes accrued 4
__________
Total Current Liabilities 1,745
__________
Other:
Deferred income taxes (156)
Deferred credits 27
__________
Total Other (129)
__________
TOTAL LIABILITIES $ 2,815
==========
</TABLE>
<TABLE>
<CAPTION>
A.31 NIPSCO ENERGY TRADING CORP.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 646
Other income 158
__________
Total Revenues 804
__________
Operating Expenses and Taxes:
Administrative and general expenses 439
Taxes other than income 15
Depreciation expense 6
Interest expense 1
Tax expense 127
__________
Total Operating Expenses and Taxes 588
__________
NET INCOME (LOSS) $ 216
==========
</TABLE>
<TABLE>
<CAPTION>
A.31 NIPSCO ENERGY TRADING CORP.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 4,482
Net Income 216
Dividends declared common (3,500)
__________
BALANCE AT END OF YEAR $ 1,198
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 NIPSCO FUEL COMPANY, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 348
Other accounts receivable 195
Accounts receivable - associated companies 4,004
Notes receivable - associated companies 9,341
Prepayments 26
__________
Total Current Assets 13,914
__________
Other Property and Investments:
Other property at cost less depreciation 42,961
Investments at equity 3,615
Investments at cost 1,000
__________
Total Other Property and Investments 47,576
__________
Other Assets:
Deferred charges and other 438
__________
Total Other Assets 438
__________
TOTAL OTHER ASSETS $ 61,928
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Foreign currency translation adjustment 92
Retained earnings (7,762)
Retained earnings - current year (3,147)
__________
Total Capitalization (10,816)
__________
Current Liabilities:
Total accounts payable 2,631
Notes payable to associated companies 60,423
__________
Total Current Liabilities 63,054
__________
Other:
Deferred income taxes 9,686
Deferred credits 4
__________
Total Other 9,690
__________
TOTAL LIABILITIES $ 61,928
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 NIPSCO FUEL COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 7,324
Other income 4
__________
Total Revenues 7,328
__________
Operating Expenses and Taxes:
Operating expenses 2,474
Administrative and general expenses 830
Taxes other than income (8)
Amortization and depletion 4,564
Interest expense 3,769
Tax expense (1,134)
__________
Total Operating Expenses and Taxes 10,495
__________
Income (Loss) Before Subsidiaries (3,167)
__________
Subsidiary Gain (Loss) 20
__________
NET INCOME (LOSS) $ (3,147)
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 NIPSCO FUEL COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (7,762)
Net Income (3,147)
__________
BALANCE AT END OF YEAR $ (10,909)
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 NFCO ACQUISITION COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 72
Other accounts receivable 33
Accounts receivable - associated companies 68
Material and supplies at average cost 2
Notes receivable - associated companies 98
__________
Total Current Assets 273
__________
Other Property and Investments:
Other property at cost less depreciation 382
__________
Total Other Property and Investments 382
__________
TOTAL ASSETS $ 655
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 450
Retained earnings 26
Retained earnings - current year 17
__________
Total Capitalization 494
__________
Current Liabilities:
Total accounts payable 44
__________
Total Current Liabilities 44
__________
Other:
Deferred income taxes 117
__________
Total Other 117
__________
TOTAL LIABILITIES $ 655
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 NFCO ACQUISITION COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 214
Other income 2
__________
Total Revenues 216
__________
Operating Expenses and Taxes:
Operating expenses 102
Administrative and general expense 37
Amortization and depletion 50
Tax expense 10
__________
Total Operating Expenses and Taxes 199
__________
NET INCOME (LOSS) $ 17
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 NFCO ACQUISITION COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 26
Net Income 17
__________
BALANCE AT END OF YEAR $ 43
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 SOUTHLAKE ENERGY INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Other accounts receivable $ 459
__________
Total Current Assets 459
__________
Other Property and Investments:
Other property at cost less depreciation 12,186
__________
Total Other Property and Investments 12,186
__________
TOTAL ASSETS $ 12,645
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 3,009
Additional paid-in capital 96
Foreign currency translation adjustment 14
Retained earnings - current year 3
__________
Total Capitalization 3,122
__________
Current Liabilities:
Total accounts payable 164
Notes payable to associated companies 9,341
Other accruals 6
__________
Total Current Liabilities 9,511
__________
Other:
Deferred income taxes 12
__________
Total Other 12
__________
TOTAL LIABILITIES $ 12,645
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 SOUTHLAKE ENERGY INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 126
__________
Total Operating Revenue 126
__________
Operating Expenses and Taxes:
Operating expenses 53
Depreciation expense 58
Tax expense 12
__________
Total Operating Expenses and Taxes 123
__________
NET INCOME (LOSS) $ 3
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 SOUTHLAKE ENERGY INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 0
Net Income 3
__________
BALANCE AT END OF YEAR $ 3
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NI-TEX, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 781
Other accounts receivable 5
Accounts receivable - associated companies 7,970
Natural gas in storage, weighted average 3,817
Prepayments 15
__________
Total Current Assets 12,588
__________
Other Property and Investments:
Investments at equity 5,740
__________
Total Other Property and Investments 5,740
__________
TOTAL ASSETS $ 18,328
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 5,815
Retained earnings - current year 4,747
Dividends - common shares (3,000)
__________
Total Capitalization 7,563
__________
Current Liabilities:
Total accounts payable 9,694
Taxes accrued 663
__________
Total Current Liabilities 10,357
__________
Other:
Deferred income taxes (7)
Deferred credits 415
__________
Total Other 408
__________
TOTAL LIABILITIES $ 18,328
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NI-TEX, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 63,490
Other income 194
__________
Total Revenues 63,684
__________
Operating Expenses and Taxes:
Operating expenses 56,269
Administrative and general expenses 675
Taxes other than income 23
Interest expense 2
Tax expense 1,968
__________
Total Operating Expenses and Taxes 58,937
__________
NET INCOME (LOSS) $ 4,747
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NI-TEX, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 5,815
Net Income 4,747
Dividends declared common (3,000)
__________
BALANCE AT END OF YEAR $ 7,562
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 TRIUMPH NATURAL GAS, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 TRIUMPH NATURAL GAS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 TRIUMPH NATURAL GAS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.37 NORTH LAKE ENERGY CORPORATION
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 17
Other accounts receivable 170
__________
Total Current Assets 187
__________
TOTAL ASSETS $ 187
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
__________
Total Capitalization 1
__________
Current Liabilities:
Total accounts payable 166
Notes payable to associated companies 18
__________
Total Current Liabilities 184
__________
Other:
Deferred credits 2
__________
Total Other 2
__________
TOTAL LIABILITIES $ 187
==========
</TABLE>
<TABLE>
<CAPTION>
A.37 NORTH LAKE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.37 NORTH LAKE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.38 NORTHERN INDIANA FUEL & LIGHT COMPANY, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility Plant $ 59,991
Less - accumulated provision for depreciation (15,763)
__________
Total Utility Plant 44,228
__________
Other Property and Investments:
Investments at equity 789
Investments at cost 3
__________
Total Other Property and Investments 792
__________
Current Assets:
Cash and cash equivalents 235
Accounts receivable, less reserve 4,248
Gas adjustment clause (380)
Material and supplies at average cost 493
Natural gas in storage, weighted average 1,879
Prepayments and other 3,076
__________
Total Current Assets 9,551
__________
Other Assets:
Regulatory assets 423
Deferred charges and other 674
__________
Total Other Assets 1,097
__________
TOTAL ASSETS $ 55,668
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 30,674
Additional paid-in-capital 7,295
Retained earnings 4,937
__________
Total Capitalization 42,906
__________
Current Liabilities:
Total accounts payable 3,446
Customer deposits 635
Taxes accrued 629
Interest accrued 27
Other accruals 1,381
__________
Total Current Liabilities 6,118
__________
Other:
Deferred income taxes 2,246
Deferred income tax credits amortized 563
Deferred credits 1,460
Regulatory income tax liability 2,375
__________
Total Other 6,644
__________
TOTAL LIABILITIES $ 55,668
==========
</TABLE>
<TABLE>
<CAPTION>
A.38 NORTHERN INDIANA FUEL & LIGHT COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 29,378
Other income (255)
__________
Total Revenues 29,123
__________
Operating Expenses and Taxes:
Gas costs 17,548
Operation expenses 3,075
Administrative and general expenses 4,274
Taxes other than income 715
Interest expense 63
Tax expense 1,327
__________
Total Operating Expenses and Taxes 27,002
__________
Subsidiary Gain (Loss) 216
__________
NET INCOME (LOSS) $ 2,337
==========
</TABLE>
<TABLE>
<CAPTION>
A.38 NORTHERN INDIANA FUEL & LIGHT COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 2,600
Net Income 2,337
__________
BALANCE AT END OF YEAR $ 4,937
==========
</TABLE>
<TABLE>
<CAPTION>
A.39 NORTHERN INDIANA TRADING COMPANY
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 17
Other accounts receivable 1,335
Accounts receivable - associated companies 315
__________
Total Current Assets 1,667
__________
Other Property and Investments:
Other property at cost less depreciation 476
__________
Total Other Property and Investments 476
__________
TOTAL ASSETS $ 2,143
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 572
Retained earnings - current year 216
__________
Total Capitalization 789
__________
Current Liabilities:
Total accounts payable 1,153
Taxes accrued 158
Other accruals 4
__________
Total Current Liabilities 1,315
__________
Other:
Deferred income taxes 39
__________
Total Other 39
__________
TOTAL LIABILITIES $ 2,143
==========
</TABLE>
<TABLE>
<CAPTION>
A.39 NORTHERN INDIANA TRADING COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 348
__________
Total Revenues 348
__________
Operating Expenses and Taxes:
Tax expense 132
__________
Total Operating Expenses and Taxes 132
__________
NET INCOME (LOSS) $ 216
==========
</TABLE>
<TABLE>
<CAPTION>
A.39 NORTHERN INDIANA TRADING COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 572
Net Income 216
__________
BALANCE AT END OF YEAR $ 788
==========
</TABLE>
<TABLE>
<CAPTION>
A.40 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant, At 0riginal Cost (Including
Construction Work in Progress of $145,078:
Electric $3,935,103
Gas 1,143,021
Common 350,168
__________
5,428,292
Less - accumulated provision for
depreciation and amortization 2,330,879
__________
Total Utility Plant 3,097,413
__________
Other Property and Investments 8,787
__________
Current Assets:
Cash and cash equivalents 11,478
Accounts receivable, less reserve of $6,418 96,076
Fuel adjustment clause 10,300
Gas cost adjustment clause 4,113
Materials and supplies at average cost 63,824
Electric production fuel, at average cost 14,258
Natural gas in storage, at last-in, first-out cost 53,413
Prepayments and other 13,051
__________
Total Current Assets 266,513
__________
Other Assets:
Regulatory assets 211,859
Deferred charges and other 21,627
__________
Total Other Assets 233,486
__________
TOTAL ASSETS $3,606,199
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shareholder's equity $1,016,827
Preferred stocks -
Series without mandatory redemption provisions 81,325
Series with mandatory redemption provisions 63,651
Long-term debt 1,058,741
__________
Total Capitalization 2,220,544
__________
Current Liabilities:
Obligations due within one year -
Commercial paper 44,800
Medium-term notes -
Issued at interest rates of 6.14% and 6.19%
with a weighted average interest rate of
6.17% and maturities of July 25, 1996 and
July 26, 1996 80,000
Notes payable -
Issued at interest rates between 5.91% and
6.15% with a weighted average interest rate
of 5.99% and various maturities between
January 2, 1996 and February 9, 1996 118,800
__________
243,600
__________
Other Current Liabilities -
Accounts payable 135,639
Sinking funds due within one year 2,621
Dividends declared on common and preferred stocks 49,851
Customer deposits 10,230
Taxes accrued 31,247
Interest accrued 7,170
Accrued employment costs 45,771
Other accruals 30,790
__________
313,319
__________
Total Current Liabilities 556,919
__________
Other:
Deferred income taxes 587,809
Deferred investment tax credits, being
amortized over life of related property 114,386
Deferred credits 41,038
Accrued liability for postretirement benefits 73,682
Regulatory income tax liability 5,783
Other noncurrent liabilities 6,038
__________
Total Other 828,736
__________
TOTAL CAPITALIZATION AND LIABILITIES $3,606,199
==========
<CAPTION>
CONSOLIDATED STATEMENT OF CAPITALIZATION
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Common Shareholder's Equity:
Common shares - without par value - authorized
75,000,000 shares - issued and outstanding
73,282,258 shares $ 859,488
Additional paid-in capital 12,500
Retained earnings 144,839
__________
Total Common Shareholder's Equity 1,016,827
__________
Preferred Stocks, Which Are Redeemable
Solely at Option of Northern Indiana
Public Service Company:
Cumulative preferred stock - $100 par value -
4-1/4% series - 209,190 shares outstanding 20,919
4-1/2% series - 79,996 shares outstanding 8,000
4.22% series - 106,198 shares outstanding 10,620
4.88% series - 100,000 shares outstanding 10,000
7.44% series - 41,890 shares outstanding 4,189
7.50% series - 34,842 shares outstanding 3,484
Premium on preferred stock 254
Cumulative preferred stock - no par value
Adjustable Rate (6.00% at December 31, 1995) -
Series A (stated value - $50 per share),
477,185 shares outstanding 23,859
__________
81,325
__________
Redeemable Preferred Stocks, Subject to
Mandatory Redemption Requirements or
Whose Redemption Is Outside the Control of
Northern Indiana Public Service Company:
Cumulative preferred stock - $100 par value -
8.85% series - 87,500 shares outstanding 8,750
7-3/4% series - 50,014 shares outstanding 5,001
8.35% series - 69,000 shares outstanding 6,900
Cumulative preferred stock - no par value -
6.50% series - 430,000 shares outstanding 43,000
__________
63,651
__________
Long-term Debt 1,058,741
__________
TOTAL CAPITALIZATION $2,220,544
==========
<CAPTION>
CONSOLIDATED STATEMENT OF LONG-TERM DEBT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
First Mortgage Bonds -
Series O, 6-3/8% - due September 1, 1997 $ 25,747
Series P, 6-7/8% - due October 1, 1998 14,509
Series T, 7-1/2% - due April 1, 2002 40,500
Series NN, 7.10% - due July 1, 2017 55,000
__________
135,756
__________
Pollution Control Notes and Bonds -
Series A note - City of Michigan City -
5.70% due October 1, 2003 20,000
Series 1988 bonds - Jasper County -
Series A, B, and C,
3.70% weighted average at December 31, 1995,
due November 1, 2016 130,000
Series 1988 bonds - Jasper County - Series D,
3.76% weighted average at December 31, 1995,
due November 1, 2007 24,000
Series 1994 bonds - Jasper County - Series A,
5.90% at December 31, 1995, due August 1, 2010 10,000
Series 1994 bonds - Jasper County - Series B,
5.90% at December 31, 1995, due June 1, 2013 18,000
Series 1994 bonds - Jasper County - Series C,
5.90 at December 31, 1995, due April 1, 2019 41,000
__________
243,000
__________
Medium-term Notes -
Issued at interest rates between 5.83% and 7.64%,
with a weighted average interest rate of 6.82%
with various maturities between July 25, 1997
and January 19, 2024 684,025
__________
Unamortized premium and discount on long-term
debt, net (4,040)
__________
TOTAL LONG-TERM DEBT, EXCLUDING
AMOUNTS DUE WITHIN ONE YEAR $1,058,741
==========
</TABLE>
<TABLE>
<CAPTION>
A.40 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED STATEMENT OF INCOME
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 633,355
Electric 1,030,923
__________
1,664,278
__________
Cost of Energy:
Gas costs 366,487
Fuel for electric generation 242,337
Power purchased 43,681
__________
652,505
__________
Operating Margin 1,011,773
__________
Operating Expenses and Taxes (except income):
Operation 278,683
Maintenance 76,953
Depreciation and amortization 198,259
Taxes (except income) 71,831
__________
625,726
__________
Operating Income Before Utility Income Taxes 386,047
__________
Utility Income Taxes 106,574
__________
Operating Income 279,473
__________
Other Income (Deductions):
Other, net (3,619)
__________
Interest Charges:
Interest on long-term debt 72,339
Other interest 8,395
Allowance for borrowed funds used during
construction and carrying charges (3,320)
Amortization of premium, reacquisition
premium, discount, and expense on debt, net 4,119
__________
81,533
__________
Net Income 194,321
Dividend Requirements on Preferred Stocks 9,046
__________
Balance Available for Common Shares $ 185,275
==========
Common Dividends Declared $ 185,725
==========
</TABLE>
<TABLE>
<CAPTION>
A.40 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 145,289
Add:
Net Income 194,321
Deduct:
Dividends on cumulative preferred shares 9,046
Common share dividends 185,725
__________
Balance at End of Year $ 144,839
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 NIPSCO ESP SERVICES CORPORATION
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 NIPSCO ESP SERVICES CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 NIPSCO ESP SERVICES CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.42 NIPSCO EXPLORATION COMPANY, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 15
Accounts receivable - associated companies 2,327
__________
Total Current Assets 2,342
__________
TOTAL ASSETS $ 2,342
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1,400
Retained earnings 1,229
Retained earnings - current year 29
Dividends - common shares (750)
__________
Total Capitalization 1,908
__________
Current Liabilities:
Total accounts payable 92
Notes payable to associated companies 580
__________
Total Current Liabilities 672
__________
Other:
Deferred income taxes (238)
__________
Total Other (238)
__________
TOTAL LIABILITIES $ 2,342
==========
</TABLE>
<TABLE>
<CAPTION>
A.42 NIPSCO EXPLORATION COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 68
Other income 17
__________
Total Revenues 85
__________
Operating Expenses and Taxes:
Administrative and general expenses 66
Taxes other than income 2
Interest expense 2
Tax expense (14)
__________
Total Operating Expense and Taxes 56
__________
NET INCOME (LOSS) $ 29
==========
</TABLE>
<TABLE>
<CAPTION>
A.42 NIPSCO EXPLORATION COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 1,229
Net Income 29
Dividends declared - common (750)
__________
BALANCE AT END OF YEAR $ 508
==========
</TABLE>
<TABLE>
<CAPTION>
A.43 SHORE LINE SHOPS, INCORPORATED
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 38
Accounts receivable - associated companies 633
__________
Total Current Assets 671
__________
Other Property and Investments:
Other property at cost less depreciation 16
Investments at cost 216
__________
Total Other Property and Investments 232
__________
TOTAL ASSETS $ 903
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 73
Retained earnings (1,958)
Retained earnings - current year (165)
__________
Total Capitalization (2,050)
__________
Current Liabilities:
Total accounts payable 2,558
Taxes accrued 23
Notes payable to associated companies 670
__________
Total Current Liabilities 3,251
__________
Other:
Deferred income taxes (298)
__________
Total Other (298)
__________
TOTAL LIABILITIES $ 903
==========
</TABLE>
<TABLE>
<CAPTION>
A.43 SHORE LINE SHOPS, INCORPORATED
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ (125)
Other income 1
__________
Total Revenues (124)
__________
Operating Expenses and Taxes:
Administrative and general expenses 30
Taxes other than income 54
Interest expense 82
Tax expense (125)
__________
Total Operating Expenses and Taxes 41
__________
NET INCOME (LOSS) $ (165)
==========
</TABLE>
<TABLE>
<CAPTION>
A.43 SHORE LINE SHOPS, INCORPORATED
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (1,958)
Net Income (165)
__________
BALANCE AT END OF YEAR $ (2,123)
==========
</TABLE>
<TABLE>
<CAPTION>
A.44 PRIMARY ENERGY, INC.
BALANCE SHEET
December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.44 PRIMARY ENERGY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.44 PRIMARY ENERGY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1995
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<PAGE>
EXHIBIT-99.B
NIPSCO Industries, Inc.
The above-named claimant has caused this statement to be duly executed
on its behalf by its authorized officer on the 5th day of March, 1996.
NIPSCO Industries, Inc.
By /s/ Jerry M. Springer
_________________________
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
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