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<PAGE>
FORM U-3A-2
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, 1996.
<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
NIPSCO Industries Indiana Merrillville, Management
Management Services Indiana services
Company
Hamilton Harbour Indiana Hammond, Indiana Captive
Insurance Services, insurance
Ltd. program
Kokomo Gas and Fuel Indiana Kokomo, Indiana Gas utility
Company
NIPSCO Capital Markets, Indiana Hammond, Indiana Funding agent
Inc. for all
non-utility
ventures
NI Telecomm, Inc. Indiana Merrillville, Telecommunications Indiana
Primary Energy, Inc. Indiana Hammond, Indiana Arranges
energy-
related
projects
Lakeside Energy Indiana Merrillville, Electric
Corporation (13) Indiana generation
project
Harbor Coal Company (13) Indiana Hammond, Indiana Coal
pulverization
joint
venture
North Lake Energy Indiana Merrillville, Electric
Corporation (13) Indiana generation
project
Portside Energy Indiana Merrillville, Power
Corporation (13) Indiana generation
Cokenergy, Inc. (13) Indiana Merrillville, Power
Indiana generation
Northern Indiana Public Indiana Hammond, Indiana Electric and
Service Company gas utility
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
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
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
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 natural gas
energy and
energy
services
NIPSCO Energy Trading Indiana Hammond, Indiana Gas and other
Corp. (5) energy
brokering
businesses
Parkway Engineering and Indiana Merrillville, Distributors of
Distribution Company (5) Indiana commercial
lighting
NIPSCO Fuel Company, Indiana Hammond, Indiana Investments
Inc. (5) in gas and
oil ventures
NFCO Acquisition Company Texas Dallas, Texas Investment in
(5) gas and oil
properties
NI-TEX, Inc. (5) Indiana Hammond, Indiana Gas supply
and trans-
portation
NESI Power Marketing, Indiana Merrillville, Electric
Inc. (5) Indiana power
marketing
Triumph Natural Gas Delaware Dallas, Texas Gas supply
Inc.(7) and brokering
NIPSCO Energy Services Canada Calgary, Alberta Holds NIPSCO
Canada Ltd. (5) Energy Services
investments and
companies
Southlake Energy, Inc. Canada Calgary, Alberta Development
(6) and invest-
ment gas and
oil properties
in western
Canada
Northern Indiana Fuel and Indiana Auburn, Indiana Gas utility
Light Company, Inc.
Northern Indiana Trading Indiana Auburn, Indiana Gas brokering
Company (8)
Speedway Acquisition Indiana Merrillville, Holding Company
Corp. Indiana
<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 Energy Services Canada Ltd.
(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 Energy Services Canada Ltd.
(11) Minority-owned investment of NIPSCO Development Company, Inc.
(12) Minority-owned interest of NIPSCO Energy Services, Inc.
(13) Wholly-owned subsidiary of Primary Energy, 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.
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 22,877,400 KVA. Its transmission system with voltages from
34,500 to 345,000 consists of approximately 3,052 circuit miles of
line. The electric distribution system extends into 21 counties and
consists of approximately 7,692 circuit miles of overhead and
approximately 1,338 cable miles of underground primary distribution
lines operating at various voltages from 2,400 to 12,500 volts.
At December 31, 1996, Northern Indiana served approximately 411,500 customers
with electricity.
GAS. 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, 1996, served approximately 653,100 customers with gas.
In 1996, all of the gas supplied by Northern Indiana was
transported by ANR Pipeline Company (ANR), Crossroads Pipeline Company
(Crossroads), Midwestern Gas Transmission Company (Midwestern), Natural
Gas Pipeline Company of America (Natural), Panhandle Eastern Pipe Line
Company (Panhandle), Tennessee Gas Pipeline Company (Tennessee), and
Trunkline Gas Company (Trunkline). Approximately 57% of Northern
Indiana's 1996 gas supply was purchased on the spot market, generally
on less than 30-day agreements.
The transportation rates of Crossroads, and the transportation and
storage rates of ANR, Midwestern, Natural, Panhandle, Tennessee, and
Trunkline 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), 300,000 Mcf per day. Northern Indiana
has approximately 13,195 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 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 32,900 customers at December 31, 1996.
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. and NESI
Energy Marketing, L.L.C., subsidiaries of NIPSCO Energy Services, Inc.,
to satisfy all of its system requirements in 1996.
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 738 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 32,400 customers at
December 31, 1996. NIFL's service territories include all of DeKalb and
Steuben, and parts of Allen, LaGrange, and Noble Counties in Indiana.
NIFL's service area has a population in excess of 66,700 people and
includes 22 cities, towns, and communities.
NIFL purchased gas on the spot market from a number of suppliers
including NI-TEX, Inc. and NESI Energy Marketing, L.L.C., subsidiaries
of NIPSCO Energy Services, Inc., to satisfy all of its system requirements
in 1996. NIFL has approximately 789 miles of gas mains.
Crossroads Pipeline Company. Crossroads Pipeline Company is a
20-inch crude-oil pipeline that extends from near the Illinois-Indiana
state line east 202 miles to Cygnet, Ohio. The Crossroads line was
converted from oil to natural gas. In May 1995, Crossroads was approved by
the FERC an interstate pipeline.
3. The following information for the year 1996 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 16,740,550,775 286,086,863
Kokomo Gas and Fuel Company NONE 8,876,848
Northern Indiana Fuel and Light
Company, Inc. NONE 10,855,132
</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 1,312,705,000 5,345,175
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 1,219,063,112 113,489,263
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
1996 thousands)
===================================== ============
<S> <C>
Capitalization at December 31, 1996:
Shareholders' equity $ 1,336
Long-term debt 46,617
_______
Total $ 47,953
=======
Net (loss) $(11,734)
=======
</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 1996, Development earned $393,511 for these services.
<TABLE> <S> <C>
<PAGE>
<ARTICLE> OPUR3
<LEGEND>
This schedule contains summary financial information extracted from the
financial statements of NIPSCO Industries, Inc. for twelve months ended
December 31, 1996, 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-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 4,274,343
<TOTAL-OPERATING-REVENUES> 1,821,626
<NET-INCOME> 176,734
</TABLE>
<PAGE>
Exhibit 99.A
(EXHIBIT A)
December 31, 1996 ORGANIZATION CHART
A.1 NIPSCO Industries, Inc.
A.2 Crossroads Pipeline Company
A.3 NIPSCO Industries Management Services, Inc.
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 NIPSCO Capital Markets, Inc.
A.7 NI Telecomm, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.8 Primary Energy, Inc.
A.9 Lakeside Energy Corporation
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.10 Harbor Coal Company
A.11 North Lake Energy Corporation
A.12 Portside Energy Corporation
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.13 Cokenergy, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.14 Northern Indiana Public Service Company
A.15 NIPSCO Exploration Company, Inc.
A.16 Shore Line Shops, Incorporated
A.17 NIPSCO Development Company, Inc.
A.18 Analytic Systems Laboratories, Inc.
A.19 FuelMaker Corporation
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.20 G.R. Clark Corporation
A.21 Green Fuels, Inc.
A.22 International Polymer Corp.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.23 JOF Transportation Company
A.24 KOGAF Enterprises, Inc.
A.25 Lake Erie Land Company
A.26 SCC Services, Inc.
A.27 N Squared Aviation, L.L.C.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.28 NDC Douglas Properties, Inc.
A.29 NIPSCO International Power Systems Company
A.30 NIPSCO Security Services, Inc.
A.31 Process and Control Technology Corporation
INCOME STATEMENT (No Activity)
A.32 RIC, Inc.
A.33 Cardinal Property Management, Inc.
A.34 Riverside Caloric Company
A.35 NIPSCO Energy Services, Inc.
A.36 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.37 NESI Energy Marketing, L.L.C.
A.38 NIPSCO Energy Trading Corporation.
A.39 Parkway Engineering and Distribution Company, Inc.
A.40 NIPSCO Fuel Company, Inc.
A.41 NFCO Acquisition Company
A.42 NI-TEX, Inc.
A.43 NESI Power Marketing, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.44 Triumph Natural Gas, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.45 NIPSCO Energy Services Canada Limited.
A.46 Southlake Energy, Inc.
A.47 Northern Indiana Fuel and Light Company, Inc.
A.48 Northern Indiana Trading Company.
A.49 Speedway Acquisition Corp.
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, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant, At Original Cost
(including construction work in
progress of $166,812):
Electric $4,050,084
Gas 1,344,230
Common 346,636
__________
5,740,950
Less-Accumulated provision for
depreciation and amortization 2,546,162
__________
Total Utility Plant 3,194,788
__________
Other Property and Investments:
Other property, at cost, less accumulated
provision for depreciation 147,370
Investments, at equity 52,260
Investments, at cost 30,424
Other investments 20,090
__________
Total Other Property and Investments 250,144
__________
Current Assets:
Cash and cash equivalents 26,333
Accounts receivable, less reserve of $5,569 165,441
Fuel adjustment clause 9,149
Gas cost adjustment clause 100,214
Materials and supplies, at average cost 59,859
Electric production fuel, at average cost 26,483
Natural gas in storage 65,093
Prepayments and other 58,507
__________
Total Current Assets 511,079
__________
Other Assets:
Regulatory assets 231,469
Prepayments and other 86,863
__________
Total Other Assets 318,332
__________
TOTAL ASSETS $4,274,343
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shareholders' equity $1,100,501
Preferred stocks -
Northern Indiana Public Service Company:
Series without mandatory redemption provisions 81,126
Series with mandatory redemption provisions 61,246
Long-term debt, excluding amounts due within one year 1,127,106
__________
Total Capitalization 2,369,979
__________
Current Liabilities:
Current portion of long-term debt 144,552
Short-term borrowings 425,985
Accounts payable 251,730
Sinking funds due within one year 3,328
Dividends declared on common and preferred stocks 28,308
Customer deposits 17,580
Taxes accrued 78,723
Interest accrued 7,557
Accrued employment costs 44,186
Other accruals 20,250
__________
Total Current Liabilities 1,022,199
__________
Other:
Deferred income taxes 602,745
Deferred investment tax credits, being
amortized over life of related property 108,258
Deferred credits 48,432
Accrued liability for postretirement benefits 109,429
Other noncurrent liabilities 13,301
__________
Total Other 882,165
__________
TOTAL LIABILITIES $4,274,343
==========
<CAPTION>
CONSOLIDATED STATEMENT OF CAPITALIZATION
<S> <C>
Common shareholders' equity $1,100,501
__________
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 - 209,145 shares outstanding 20,915
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, 1996) -
Series A (stated value - $50 per share),
473,285 shares outstanding 23,664
__________
81,126
__________
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 - 75,000 shares outstanding 7,500
7-3/4% series - 44,460 shares outstanding 4,446
8.35% series - 63,000 shares outstanding 6,300
Cumulative preferred stock - no par value -
6.50% series - 430,000 shares outstanding 43,000
__________
61,246
__________
Long-term Debt 1,127,106
__________
TOTAL CAPITALIZATION $2,369,979
==========
<CAPTION>
CONSOLIDATED STATEMENT OF LONG-TERM DEBT
<S> <C>
Northern Indiana Public Service Company:
First mortgage bonds -
Series P, 6-7/8% - due October 1, 1998 $ 14,509
Series T, 7-1/2% - due April 1, 2002 40,000
Series NN, 7.10% - due July 1, 2017 55,000
__________
Total 109,509
__________
Pollution control notes and bonds -
Series A Note - City of Michigan City -
5.70% due October 1, 2003 19,000
Series 1988 Bonds - Jasper County -
Series A, B and C
3.58% weighted average at December 31, 1996,
due November 1, 2016 130,000
Series 1988 Bonds - Jasper County - Series D
3.55% weighted average at December 31, 1996,
due November 1, 2007 24,000
Series 1994 Bonds - Jasper County - Series A
5.10% at December 31, 1996, due August 1, 2010 10,000
Series 1994 Bonds - Jasper County - Series B
5.10% at December 31, 1996, due June 1, 2013 18,000
Series 1994 Bonds - Jasper County - Series C
5.10% at December 31, 1996, due April 1, 2019 41,000
__________
Total 242,000
__________
Medium-term Notes -
Issued at interest rates between 5.83% and
7.64%, with a weighted average interest
rate of 6.85% and various maturities
between April 6, 1998 and January 19, 2024 644,025
__________
Unamortized premium and discount on
long-term debt, net (3,526)
__________
Total Long-term Debt of
Northern Indiana Public Service Company 992,008
__________
NIPSCO Capital Markets, Inc.:
Subordinated Debentures- Series A,
7.34%, due March 31, 2026 75,000
__________
Total Long-Term Debt of
NIPSCO Capital Markets, Inc. 75,000
__________
NIPSCO Development Company, Inc.:
Lake Erie Land Company - Notes Payable -
8.25%, due June 30, 1998 100
Elm Energy and Recycling (UK), Ltd. Term Loan
Facility - weighted average interest rate of
8.22% at December 31, 1996, due
December 31, 2004 40,576 NDC Douglas Properties, Inc. - Notes Payable -
Interest rates between 6.72% and 8.15% with a
weighted average interest rate of 7.76% and
maturities through April 1, 2006 19,422
__________
Total Long-term Debt of
NIPSCO Development Company, Inc. 60,098
__________
TOTAL LONG-TERM DEBT,
EXCLUDING AMOUNTS DUE IN ONE YEAR $1,127,106
==========
<CAPTION>
CONSOLIDATED STATEMENT OF CURRENT PORTION OF LONG-TERM DEBT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Northern Indiana Public Service Company:
First mortgage bonds -
Series O, 6.38% - due September 1, 1997 $ 25,747
Medium-term notes -
Issued at interest rates of 5.96% and 5.98%
with a weighted average interest rate of
5.97% and maturities of July 25, 1997 and
July 28, 1997 40,000
NIPSCO Capital Markets:
Zero coupon notes -
7.57% - $72,500 at maturity -
due December 1, 1997 67,731
Lake Erie Land Company:
Notes payable 2,822
Elm Energy and Recycling (UK), Ltd.:
Term loan facility 6,041
NDC Douglas Properties, Inc.:
Notes payable 2,211
________
Total Current Portion of Long-term Debt $ 144,552
========
<CAPTION>
CONSOLIDATED STATEMENT OF SHORT-TERM BORROWINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Northern Indiana Public Service Company:
Commercial paper $ 193,905
Notes payable -
Issued at interest rates between 5.42% and
5.70% with a weighted average interest rate
of 5.52% and various maturities between
January 10, 1997 and February 27, 1997 79,000
NIPSCO Capital Markets:
Commercial paper 119,300
Notes payable -
5.60% - due January 13, 1997 27,000
Elm Energy and Recycling (UK), Ltd.:
Standby loan facility 4,949
Southlake Energy, Inc.:
Revolving loan facility 1,831
_________
Total Current Portion of
Short-term Borrowings $ 425,985
=========
</TABLE>
<TABLE>
<CAPTION>
A.1 NIPSCO INDUSTRIES, INC.
CONSOLIDATED INCOME STATEMENT
December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 799,395
Electric 1,022,231
__________
1,821,626
__________
Cost of Energy:
Gas costs 483,777
Fuel for electric generation 233,215
Power purchased 53,751
__________
770,743
__________
Operating Margin 1,050,883
__________
Operating Expenses and Taxes (except income):
Operation 294,240
Maintenance 70,023
Depreciation and amortization 215,028
Taxes (except income) 74,304
__________
653,595
__________
Operating Income Before Utility Income Taxes 397,288
__________
Utility Income Taxes 110,995
__________
Operating Income 286,293
__________
Other Income (Deductions) 5,693
__________
Interest and Other Charges:
Interest on long-term debt 85,382
Other interest 17,449
Allowance for borrowed funds used during
construction and carrying charges (896)
Amortization of premium, reacquisition
premium, discount and expense on debt, net 4,605
Dividend requirements on preferred stocks
of subsidiary 8,712
__________
115,252
__________
Net Income 176,734
__________
Dividend Requirements on Preferred Shares 119
__________
Balance Available for Common Shareholders $ 176,615
==========
Average Common Shares Outstanding 61,190,750
==========
Earnings Per Average Common Share $ 2.88
==========
Dividends Declared Per Common Share $ 1.71
==========
</TABLE>
<TABLE>
<CAPTION>
CONSOLIDATED STATEMENT OF COMMON SHAREHOLDERS' EQUITY
December 31, 1996
(Dollars in Thousands)
______________________________________
Additional
Common Paid-In
Total Shares Capital
============================== ========== ========== ==========
<S> <C> <C> <C>
Balance, December 31, 1995 $1,122,215 $ 870,930 $ 32,210
Net income 176,734
Dividends:
Preferred shares (119)
Common shares (103,981)
Treasury shares acquired (105,498)
Issued:
Employee stock purchase plan 783 454
Long-term incentive plan 5,011 186
Unrealized gain on
available for sale
securities 1,079
Amortization of unearned
compensation 2,570
Other 1,707 18
__________ __________ __________
Balance, December 31, 1996 $1,100,501 $ 870,930 $ 32,868
========== ========== ==========
<CAPTION>
(Dollars in Thousands)
______________________________________
Currency
Retained Treasury Translation
Earnings Shares Adjustment
============================== ========== ========== ==========
<S> <C> <C> <C>
Balance, December 31, 1995 $ 518,837 $ (293,223) $ (1,930)
Net income 176,734
Dividends:
Preferred shares (119)
Common shares (103,981)
Treasury shares acquired (105,498)
Issued:
Employee stock purchase plan 329
Long-term incentive plan 5,397
Unrealized gain on
available for sale
securities
Amortization of unearned
compensation
Other (101) 1,790
_________ __________ __________
Balance, December 31, 1996 $ 591,370 $ (392,995) $ (140)
========= ========== ==========
<CAPTION>
(Dollars in
Thousands) Shares
____________ ________________________
Common Treasury
Other Shares Shares
============================== ========== ========== ==========
<S> <C> <C> <C>
Balance, December 31, 1995 $ (4,609) 73,892,109 (11,512,513)
Net income
Dividends:
Preferred shares
Common shares
Treasury shares acquired (2,793,604)
Issued:
Employee stock purchase plan 20,669
Long-term incentive plan (572) 199,000
Unrealized gain on
available for sale
securities 1,079
Amortization of unearned
compensation 2,570
Other
__________ __________ __________
Balance, December 31, 1996 $ (1,532) 73,892,109 (14,086,448)
========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
A.2 CROSSROADS PIPELINE COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility plant $ 34,288
Less - accumulated provision for depreciation
and amortization (1,860)
__________
Total Utility Plant 32,428
__________
Current Assets:
Cash and cash equivalents 165
Accounts receivable, less reserve 3,639
Prepayments and other 20
__________
Total Current Assets 3,824
__________
TOTAL ASSETS $ 36,252
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (2,448)
Retained earnings - current year (1,664)
__________
Total Capitalization (4,111)
__________
Current Liabilities:
Total accounts payable 4,565
Taxes accrued 526
Notes payable to associated companies 34,085
__________
Total Current Liabilities 39,176
__________
Other:
Deferred income taxes 1,098
Deferred credits 89
__________
Total Other 1,187
__________
TOTAL LIABILITIES $ 36,252
==========
</TABLE>
<TABLE>
<CAPTION>
A.2 CROSSROADS PIPELINE COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 2,811
Other income (6)
__________
Total Operating Revenues 2,805
__________
Operating Expenses and Taxes:
Gas costs 919
Administrative and general expenses 1,490
Taxes other than income 601
Interest expense 2,439
Tax expense (980)
__________
Total Operating Expenses and Taxes 4,469
__________
NET INCOME (LOSS) $ (1,664)
==========
</TABLE>
<TABLE>
<CAPTION>
A.2 CROSSROADS PIPELINE COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (2,448)
Net Income (1,664)
__________
BALANCE AT END OF YEAR $ (4,112)
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 NIPSCO INDUSTRIES MANAGEMENT SERVICES COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 204
Other accounts receivable 23
Accounts receivable - associated companies 2,593
Notes receivable - associated companies 955
__________
Total Current Assets 3,775
__________
Other Property and Investments:
Other property at cost less depreciation 2,029
__________
Total Other Property and Investments 2,029
__________
Other Assets:
Deferred charges and other 126
__________
Total Other Assets 126
__________
$ 5,930
TOTAL ASSETS ==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common Shares without par value $ 1
__________
Total Capitalization 1
__________
Current Liabilities:
Total accounts payable 4,196
Taxes accrued (39)
Taxes withheld payables (113)
Accrued vacation pay 84
__________
Total Current Liabilities 4,128
__________
Other:
Deferred credits 1,801
__________
Total Other 1,801
__________
TOTAL LIABILITIES $ 5,930
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 NIPSCO INDUSTRIES MANAGEMENT SERVICES COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 NIPSCO INDUSTRIES MANAGEMENT SERVICES COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 12
Accounts receivable - associated companies 2
__________
Total Current Assets 14
__________
TOTAL ASSETS $ 14
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (3)
Retained earning - current year (1)
__________
Total Capitalization (3)
__________
Current Liabilities:
Notes payable to associated companies 8
__________
Total Current Liabilities 8
__________
Other Liabilities:
Deferred credits 9
__________
Total Other Liabilities 9
__________
TOTAL LIABILITIES $ 14
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Expenses and Taxes:
Interest expense $ 1
__________
Total Operating Expenses and Taxes 1
__________
NET INCOME (LOSS) $ (1)
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at beginning of the year $ (3)
Net Income $ (1)
__________
BALANCE AT END OF YEAR $ (4)
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 KOKOMO GAS AND FUEL COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility Plant $ 70,486
Less - accumulated provision for depreciation (27,357)
__________
Total Utility Plant 43,129
__________
Other Property and Investments:
Investments at cost 5
__________
Total Other Property and Investments 5
__________
Current Assets:
Cash and cash equivalents 1,189
Accounts receivable, less reserve 5,604
Gas cost adjustment clause 594
Material and supplies at average cost 298
Natural gas in storage, weighted average 662
Prepayments and other 7,623
__________
Total Current Assets 15,970
__________
Other Assets:
Regulatory assets 552
Deferred charges and other 48
__________
Total Other Assets 600
__________
TOTAL ASSETS $ 59,704
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 46,170
Retained earnings (783)
__________
Total Capitalization 45,387
__________
Current Liabilities:
Total accounts payable 6,218
Customer deposits 468
Taxes accrued 490
Interest accrued 146
Other accruals 1,091
__________
Total Current Liabilities 8,413
__________
Other:
Deferred income taxes 2,849
Deferred income tax credits amortized 681
Deferred credits 5
Regulatory income tax liability 2,029
Other non-current liabilities 340
__________
Total Other 5,904
__________
TOTAL LIABILITIES $ 59,704
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 KOKOMO GAS AND FUEL COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 28,535
Other income (123)
__________
Total Revenues 28,412
__________
Operating Expenses and Taxes:
Gas costs 16,361
Operation expenses 3,468
Administrative and general expenses 3,818
Taxes other than income 945
Interest expense 25
Tax expense 1,433
__________
Total Operating Expenses and Taxes 26,050
__________
NET INCOME (LOSS) $ 2,362
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 KOKOMO GAS AND FUEL COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (745)
Net Income 2,362
Dividends declared common (2,400)
__________
BALANCE AT END OF YEAR $ (783)
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 NIPSCO CAPITAL MARKETS, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 70
Accounts receivable - associated companies 1,841
Notes receivable - associated companies 290,217
Prepayments 680
__________
Total Current Assets 292,808
__________
Other Assets:
Deferred charges and other 2,537
__________
Total Other Assets 2,537
__________
TOTAL ASSETS $ 295,345
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1,000
Retained earnings 3,212
Retained earnings - current year 1,167
NIPSCO Industries, Inc:
Long-term debt other 75,000
__________
Total Capitalization 80,379
__________
Current Liabilities:
Commercial paper - NIPSCO Capital Markets, Inc. 119,300
Notes payable - NIPSCO Capital Markets, Inc. 27,000
Zero coupon notes - NIPSCO Capital Markets, Inc. 67,731
Other Current Liabilities:
Total accounts payable 713
Interest accrued 222
__________
Total Current Liabilities 214,966
__________
TOTAL LIABILITIES $ 295,345
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 NIPSCO CAPITAL MARKETS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 19,020
__________
Total Operating Revenues 19,020
__________
Operating Expenses and Taxes:
Administrative and general expenses 231
Interest expense 16,909
Tax expense 713
__________
Total Operating Expenses and Taxes 17,853
__________
NET INCOME (LOSS) $ 1,167
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 NIPSCO CAPITAL MARKETS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 3,212
Net Income 1,167
__________
BALANCE AT END OF YEAR $ 4,379
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NI TELECOMM, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NI TELECOMM, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NI TELECOMM, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 PRIMARY ENERGY, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 223
Other accounts receivable 316
Accounts receivable - associated companies 354
Notes receivable - associated companies 124
Prepayments 1,986
__________
Total Current Assets 3,003
__________
Other Property and Investments:
Other property at cost less depreciation 81
Investments at equity 1,555
Investments at cost 3,000
__________
Total Other Property and Investments 4,636
__________
Other Assets:
Deferred charges and other 7
__________
Total Other Assets 7
__________
TOTAL ASSETS $ 7,646
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Retained earnings $ (183)
Retained earnings - current year 4,604
__________
Total Capitalization 4,421
__________
Current Liabilities:
Total accounts payable 2,187
Taxes accrued (1)
Taxes withheld payables (11)
__________
Total Current Liabilities 2,175
__________
Other Liabilities:
Deferred credits 1,050
__________
Total Other Liabilities 1,050
__________
TOTAL LIABILITIES $ 7,646
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 PRIMARY ENERGY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 2,398
Other income 307
Total Operating Revenue __________
2,705
__________
Operating Expenses and Taxes:
Administrative and general expenses 2,832
Taxes other than income 47
Depreciation expense 6
Interest expense 32
Tax expense (82)
__________
Total Operating Expenses and Taxes 2,835
__________
Income(Loss) before subsidiaries (130)
__________
Subsidiary gain(loss) 4,734
__________
NET INCOME (LOSS) $ 4,604
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 PRIMARY ENERGY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ (183)
Net Income 4,604
_________
BALANCE AT END OF YEAR $ 4,421
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 LAKESIDE ENERGY CORPORATION
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
ASSETS
Current Assets:
Cash and cash equivalents $ 53
Prepayments 6,830
__________
Total Current Assets 6,883
__________
Other Assets:
Deferred charges and other 502
__________
Total Other Assets 502
__________
TOTAL ASSETS $ 7,385
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
__________
Total Capitalization 1
__________
Current Liabilities:
Total accounts payable 1,921
Notes payable to associated companies 5,463
__________
Total Current Liabilities 7,384
__________
TOTAL LIABILITIES $ 7,385
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 LAKESIDE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 LAKESIDE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 HARBOR COAL COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1
Accounts receivable - associated companies 9
Prepayments 32
__________
Total Current Assets 42
__________
Other Property and Investments:
Investments at equity (233)
__________
Total Other Property and Investments (233)
__________
TOTAL ASSETS $ (191)
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (3,183)
Retained earnings - current year 3,167
__________
Total Capitalization (15)
__________
Current Liabilities:
Total accounts payable 2,513
Notes payable to associated companies 753
__________
Total Current Liabilities 3,266
__________
Other:
Deferred income taxes (3,442)
__________
Total Other (3,442)
__________
TOTAL LIABILITIES $ (191)
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 HARBOR COAL COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 5,766
__________
Total Operating Revenues 5,766
__________
Operating Expenses and Taxes:
Administrative and general expenses 262
Taxes other than income 69
Interest expense 344
Tax expense 1,924
__________
Total Operating Expenses and Taxes 2,599
__________
NET INCOME (LOSS) $ 3,167
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 HARBOR COAL COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (3,183)
Net Income 3,167
__________
BALANCE AT END OF YEAR $ (16)
==========
</TABLE>
<TABLE>
<CAPTION>
A.11 NORTH LAKE ENERGY CORPORATION
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 30
Other accounts receivable 1,062
Accounts receivable - associated companies 10
Notes receivable - associated companies 1,464
Prepayments 43
__________
Total Current Assets 2,609
__________
TOTAL ASSETS $ 2,609
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings - current year 1,567
__________
Total Capitalization 1,568
__________
Current Liabilities:
Total accounts payable 1,159
__________
Total Current Liabilities 1,159
__________
Other:
Deferred income taxes (118)
__________
Total Other (118)
__________
TOTAL LIABILITIES $ 2,609
==========
</TABLE>
<TABLE>
<CAPTION>
A.11 NORTH LAKE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 3,984
Other income 19
_________
Total Operating Revenue 4,003
_________
Operating Expenses and Taxes:
Operating expenses 1,169
Administrative and general expenses 284
Taxes other than income 48
Interest expense (30)
Tax expense 965
_________
Total Operating Expenses and Taxes 2,436
_________
NET INCOME (LOSS) $ 1,567
=========
</TABLE>
<TABLE>
<CAPTION>
A.11 NORTH LAKE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Net Income $ 1,567
_________
BALANCE AT END OF YEAR $ 1,567
=========
</TABLE>
<TABLE>
<CAPTION>
A.12 PORTSIDE ENERGY CORPORATION
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Prepayments $ 33,292
__________
Total Current Assets 33,292
__________
Other Assets:
Deferred charges and other 100
__________
Total Other Assets 100
__________
$ 33,392
TOTAL ASSETS ==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common Shares without par value $ 1
__________
Total Capitalization 1
__________
Current Liabilities:
Total accounts payable 572
Notes payable to associated companies 32,819
__________
Total Current Liabilities 33,391
__________
TOTAL LIABILITIES $ 33,392
==========
</TABLE>
<TABLE>
<CAPTION>
A.12 PORTSIDE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.12 PORTSIDE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 COKENERGY, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 COKENERGY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 COKENERGY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.14 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant, At Original Cost (Including
Construction Work in Progress of $162,123):
Electric $4,050,084
Gas 1,176,871
Common 346,636
_________
5,573,591
Less - accumulated provision for
depreciation and amortization 2,499,687
__________
Total Utility Plant 3,073,904
__________
Other Property and Investments 8,971
__________
Current Assets:
Cash and cash equivalents 8,279
Accounts receivable, less reserve of $4,568 111,866
Fuel adjustment clause 9,149
Gas cost adjustment clause 98,167
Materials and supplies at average cost 56,796
Electric production fuel, at average cost 26,483
Natural gas in storage, at last-in, first-out cost 50,409
Prepayments and other 13,658
__________
Total Current Assets 374,807
__________
Other Assets:
Regulatory assets 230,545
Prepayments and other 67,247
__________
Total Other Assets 297,792
__________
TOTAL ASSETS $3,755,474
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shareholder's equity $1,017,996
Preferred stocks -
Series without mandatory redemption provisions 81,126
Series with mandatory redemption provisions 61,246
Long-term debt 992,008
__________
Total Capitalization 2,152,376
__________
Current Liabilities:
Current portion of long-term debt 65,747
Short-term borrowings 272,905
Accounts payable 190,182
Sinking funds due within one year 3,328
Dividends declared on common and preferred stocks 54,255
Customer deposits 16,768
Taxes accrued 78,806
Interest accrued 5,851
Accrued employment costs 40,915
Other accruals 16,302
__________
Total Current Liabilities 745,059
__________
Other:
Deferred income taxes 597,105
Deferred investment tax credits, being
amortized over life of related property 107,058
Deferred credits 41,056
Accrued liability for postretirement benefits 104,123
Other noncurrent liabilities 8,697
__________
Total Other 858,039
__________
TOTAL CAPITALIZATION AND LIABILITIES $3,755,474
==========
<CAPTION>
CONSOLIDATED STATEMENT OF CAPITALIZATION
For the Year Ended December 31, 1996
(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 12,521
Retained earnings 145,987
__________
Total Common Shareholder's Equity 1,017,996
__________
Preferred Stocks, Which Are Redeemable
Solely at Option of Northern Indiana
Public Service Company:
Cumulative preferred stock - $100 par value -
4-1/4% series - 209,145 shares outstanding 20,915
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, 1996) -
Series A (stated value - $50 per share),
473,285 shares outstanding 23,664
__________
81,126
__________
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 - 75,000 shares outstanding 7,500
7-3/4% series - 44,460 shares outstanding 4,446
8.35% series - 63,000 shares outstanding 6,300
Cumulative preferred stock - no par value -
6.50% series - 430,000 shares outstanding 43,000
__________
61,246
__________
Long-term Debt, excluding amounts due within one year 992,008
__________
TOTAL CAPITALIZATION $2,152,376
==========
<CAPTION>
CONSOLIDATED STATEMENT OF LONG-TERM DEBT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
First Mortgage Bonds -
Series P, 6-7/8% - due October 1, 1998 $ 14,509
Series T, 7-1/2% - due April 1, 2002 40,000
Series NN, 7.10% - due July 1, 2017 55,000
__________
109,509
__________
Pollution Control Notes and Bonds -
Series A Note - City of Michigan City -
5.70% due October 1, 2003 19,000
Series 1988 Bonds - Jasper County -
Series A, B, and C,
3.58% weighted average at December 31, 1996,
due November 1, 2016 130,000
Series 1988 Bonds - Jasper County - Series D,
3.55% weighted average at December 31, 1996,
due November 1, 2007 24,000
Series 1994 Bonds - Jasper County - Series A,
5.10% at December 31, 1996, due August 1, 2010 10,000
Series 1994 Bonds - Jasper County - Series B,
5.10% at December 31, 1996, due June 1, 2013 18,000
Series 1994 Bonds - Jasper County - Series C,
5.10% at December 31, 1996, due April 1, 2019 41,000
__________
242,000
__________
Medium-term Notes -
Issued at interest rates between 5.83% and 7.64%,
with a weighted average interest rate of 6.85%
with various maturities between April 6, 1998
and January 19, 2024 644,025
__________
Unamortized premium and discount on long-term
debt, net (3,526)
__________
TOTAL LONG-TERM DEBT, EXCLUDING
AMOUNTS DUE WITHIN ONE YEAR $ 992,008
==========
<CAPTION>
CONSOLIDATED STATEMENT OF CURRENT PORTION OF LONG-TERM DEBT
For the Year Ended December 31, 1996
(Dollars in thousands)
<S> <C>
First mortgage bonds -
Series O, 6.38% - due September 1, 1997 $ 25,747
Medium-term notes -
Issued at interest rates of 5.96% and 5.98%
with a weighted average interest rate of
5.97% and maturities of July 25, 1997 and
July 28, 1997 40,000
________
Total Current Portion of Long-term Debt $ 65,747
========
<CAPTION>
CONSOLIDATED STATEMENT OF SHORT-TERM BORROWINGS
For the Year Ended December 31, 1996
(Dollars in thousands)
<S> <C>
Commercial paper $ 193,905
Notes payable -
Issued at interest rates between 5.42% and
5.70% with a weighted average interest rate
of 5.52% and various maturities between
January 10, 1997 and February 27, 1997 79,000
________
Total Short-term Borrowings $ 272,905
========
</TABLE>
<TABLE>
<CAPTION>
A.14 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED STATEMENT OF INCOME
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 731,874
Electric 1,022,231
__________
1,754,105
__________
Cost of Energy:
Gas costs 444,141
Fuel for electric generation 233,215
Power purchased 53,751
__________
731,107
__________
Operating Margin 1,022,998
__________
Operating Expenses and Taxes (except income):
Operation 281,066
Maintenance 68,729
Depreciation and amortization 211,545
Taxes (except income) 72,069
__________
633,409
__________
Operating Income Before Utility Income Taxes 389,589
__________
Utility Income Taxes 109,051
__________
Operating Income 280,538
__________
Other Income (Deductions) 240
__________
Interest:
Interest on long-term debt 68,798
Other interest 11,225
Allowance for borrowed funds used during
construction and carrying charges (805)
Amortization of premium, reacquisition
premium, discount, and expense on debt, net 4,250
__________
83,468
__________
Net Income 197,310
__________
Dividend Requirements on Preferred Stocks 8,712
__________
Balance Available for Common Shares $ 188,598
==========
Common Dividends Declared $ 187,450
==========
</TABLE>
<TABLE>
<CAPTION>
A.14 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 144,839
Net Income 197,310
Dividends on cumulative preferred stock (8,712)
Common share dividends (187,450)
__________
Balance at End of Year $ 145,987
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 NIPSCO EXPLORATION COMPANY, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 169
Other accounts receivable 44
Accounts receivable - associated companies 2,236
__________
Total Current Assets 2,449
__________
TOTAL ASSETS $ 2,449
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1,400
Retained earnings 508
Retained earnings - current year 240
__________
Total Capitalization 2,148
__________
Current Liabilities:
Total accounts payable 463
__________
Total Current Liabilities 463
__________
Other:
Deferred income taxes (162)
__________
Total Other (162)
__________
TOTAL LIABILITIES $ 2,449
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 NIPSCO EXPLORATION COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 190
Other income 704
__________
Total Revenues 894
__________
Operating Expenses and Taxes:
Administrative and general expenses 80
Interest expense 36
Tax expense 538
__________
Total Operating Expense and Taxes 654
__________
NET INCOME (LOSS) $ 240
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 NIPSCO EXPLORATION COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 508
Net Income 240
__________
BALANCE AT END OF YEAR $ 748
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 SHORE LINE SHOPS, INCORPORATED
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 87
Accounts receivable - associated companies 938
__________
Total Current Assets 1,025
__________
Other Property and Investments:
Other property at cost less depreciation 16
Investments at cost 809
__________
Total Other Property and Investments 825
__________
TOTAL ASSETS $ 1,850
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 73
Retained earnings (2,124)
Retained earnings - current year (141)
__________
Total Capitalization (2,192)
__________
Current Liabilities:
Total accounts payable 2,553
Taxes accrued (2)
Notes payable to associated companies 1,491
__________
Total Current Liabilities 4,042
__________
TOTAL LIABILITIES $ 1,850
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 SHORE LINE SHOPS, INCORPORATED
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ (81)
__________
Total Revenues (81)
__________
Operating Expenses and Taxes:
Administrative and general expenses 14
Taxes other than income (3)
Interest expense 63
Tax expense (14)
__________
Total Operating Expenses and Taxes 60
__________
NET INCOME (LOSS) $ (141)
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 SHORE LINE SHOPS, INCORPORATED
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (2,124)
Net Income (141)
__________
BALANCE AT END OF YEAR $ (2,265)
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 NIPSCO DEVELOPMENT COMPANY, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 133
Notes receivable 592
Other accounts receivable 472
Accounts receivable - associated companies 11,299
Notes receivable - associated companies 1,765
Prepayments 21
__________
Total Current Assets 14,282
__________
Other Property and Investments:
Other property at cost less depreciation 5,334
Investments at equity 29,551
Investments at cost 4,206
__________
Total Other Property and Investments 39,091
__________
Other Assets:
Deferred charges and other (307)
__________
Total Other Assets (307)
__________
TOTAL ASSETS $ 53,066
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Foreign currency translation adjustment 49
Retained earnings (25,067)
Retained earnings - current year (16,311)
Dividends - Common shares (2,887)
__________
Total Capitalization (44,215)
__________
Current Liabilities:
Total accounts payable 1,274
Taxes accrued 727
Notes payable to associated companies 102,286
Taxes withheld payables (48)
__________
Total Current Liabilities 104,239
__________
Other:
Deferred income taxes (7,227)
Deferred credits 269
__________
Total Other (6,958)
__________
TOTAL LIABILITIES $ 53,066
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 NIPSCO DEVELOPMENT COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 3,917
Other income (375)
__________
Total Revenues 3,542
__________
Operating Expenses and Taxes:
Administrative and general expenses 2,961
Taxes other than income 34
Depreciation expense 352
Amortization and depletion 5,316
Interest expense 7,106
Tax expense (8,277)
__________
Total Operating Expenses and Taxes 7,492
__________
Income (Loss) Before Subsidiaries (3,950)
__________
Subsidiary Gain (Loss) (12,361)
__________
NET INCOME (LOSS) $ (16,311)
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 NIPSCO DEVELOPMENT COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (25,067)
Net Income (16,311)
Dividends declared common (2,887)
__________
BALANCE AT END OF YEAR $ (44,265)
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 ANALYTIC SYSTEMS LABORATORIES, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 203
Other accounts receivable 320
Material and supplies at average cost 199
Prepayments 18
__________
Total Current Assets 740
__________
Other Property and Investments:
Other property at cost less depreciation 131
__________
Total Other Property and Investments 131
__________
Other Assets:
Deferred charges and other 3
__________
Total Other Assets 3
__________
TOTAL ASSETS $ 874
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 561
Retained earnings (2,751)
Retained earnings - current year (345)
__________
Total Capitalization (2,535)
__________
Current Liabilities:
Total accounts payable 1,640
Notes payable to associated companies 1,765
Other accruals 4
__________
Total Current Liabilities 3,409
__________
TOTAL LIABILITIES $ 874
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 ANALYTIC SYSTEMS LABORATORIES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 1,495
__________
Total Revenue 1,495
__________
Operating Expenses and Taxes:
Operating expenses 564
Administrative and general expenses 992
Taxes other than income 41
Depreciation expense 40
Interest expense 203
__________
Total Operating Expenses and Taxes 1,840
__________
NET INCOME (LOSS) $ (345)
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 ANALYTIC SYSTEMS LABORATORIES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (2,751)
Net Income (345)
__________
BALANCE AT END OF YEAR $ (3,096)
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 FUELMAKER CORPORATION
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 FUELMAKER CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 FUELMAKER CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 G. R. CLARK CORPORATION
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 908
Other accounts receivable 496
Accounts receivable - associated companies 14
Prepayments 6
__________
Total Current Assets 1,424
__________
Other Property and Investments:
Other property at cost less depreciation 8
__________
Total Other Property and Investments 8
__________
TOTAL ASSETS $ 1,432
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 2,236
Retained earnings (1,006)
Retained earnings - current year 21
__________
Total Capitalization 1,252
__________
Current Liabilities:
Total accounts payable 20
__________
Total Current Liabilities 20
__________
Other:
Deferred income taxes 160
__________
Total Other 160
__________
TOTAL LIABILITIES $ 1,432
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 G. R. CLARK CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Other income $ 40
__________
Total Revenues 40
__________
Operating Expenses and Taxes:
Operating expenses (6)
Administrative and general expenses 28
Tax expense (3)
__________
Total Operating Expenses and Taxes 19
__________
NET INCOME (LOSS) $ 21
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 G. R. CLARK CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (1,006)
Net Income 21
__________
BALANCE AT END OF YEAR $ (985)
==========
</TABLE>
<TABLE>
<CAPTION>
A.21 GREEN FUELS, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 16
Other accounts receivable 36
Accounts receivable - associated companies 251
Prepayments 22
__________
Total Current Assets 325
__________
Other Property and Investments:
Other property at cost less depreciation 236
Investments at cost 100
__________
Total Other Property and Investments 336
__________
Other Assets:
Deferred charges and other 100
__________
Total Other Assets 100
__________
TOTAL ASSETS $ 761
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (70)
Retained earnings - current year (341)
__________
Total Capitalization (410)
__________
Current Liabilities:
Total accounts payable 131
Notes payable to associated companies 1,017
Taxes withheld payables (4)
__________
Total Current Liabilities 1,144
__________
Other:
Deferred income taxes (42)
Deferred credits 69
__________
Total other 27
__________
TOTAL LIABILITIES $ 761
==========
</TABLE>
<TABLE>
<CAPTION>
A.21 GREEN FUELS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Operating revenue $ 122
_________
Total Operating Revenue 122
_________
Operating Expenses and Taxes:
Operating expenses 83
Administrative and general expenses 536
Taxes other than income 17
Depreciation expense 1
Interest expense 34
Tax expense (208)
__________
Total Operating Expenses and Taxes 463
__________
NET INCOME (LOSS) $ (341)
==========
</TABLE>
<TABLE>
<CAPTION>
A.21 GREEN FUELS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ (70)
Net Income (341)
__________
BALANCE AT END OF YEAR $ (411)
==========
</TABLE>
<TABLE>
<CAPTION>
A.22 INTERNATIONAL POLYMER CORP.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.22 INTERNATIONAL POLYMER CORP.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.22 INTERNATIONAL POLYMER CORP.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.23 JOF TRANSPORTATION COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 651
Accounts receivable - associated companies 35
Notes receivable - associated companies 1,788
__________
Total Current Assets 2,474
__________
Other Property and Investments:
Investments at equity 3,131
__________
Total Other Property and Investments 3,131
__________
TOTAL ASSETS $ 5,605
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 2,118
Retained earnings - current year 1,186
__________
Total Capitalization 3,305
__________
Current Liabilities:
Total accounts payable 1,674
Taxes accrued 6
__________
Total Current Liabilities 1,680
__________
Other:
Deferred income taxes 620
__________
Total Other 620
__________
TOTAL LIABILITIES $ 5,605
==========
</TABLE>
<TABLE>
<CAPTION>
A.23 JOF TRANSPORTATION COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 2,206
Other income 81
__________
Total Revenues 2,287
__________
Operating Expenses and Taxes:
Administrative and general expenses 45
Taxes other than income 21
Tax expense 1,035
__________
Total Expenses and Taxes 1,101
__________
NET INCOME (LOSS) $ 1,186
==========
</TABLE>
<TABLE>
<CAPTION>
A.23 JOF TRANSPORTATION COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 2,118
Net Income 1,186
__________
BALANCE AT END OF YEAR $ 3,304
==========
</TABLE>
<TABLE>
<CAPTION>
A.24 KOGAF ENTERPRISES, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 185
Notes receivable 188
Other accounts receivable 235
Notes receivable - associated companies 1,350
__________
Total Current Assets 1,958
__________
Other Property and Investments:
Other property at cost less depreciation 243
Investments at equity 122
__________
Total Other Property and Investments 365
__________
TOTAL ASSETS $ 2,323
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 2,103
Retained earnings (27)
Retained earnings - current year (3)
__________
Total Capitalization 2,073
__________
Current Liabilities:
Total accounts payable 284
__________
Total Current Liabilities 284
__________
Other:
Deferred income taxes (34)
__________
Total Other (34)
__________
TOTAL LIABILITIES $ 2,323
==========
</TABLE>
<TABLE>
<CAPTION>
A.24 KOGAF Enterprises, Inc.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 149
Other income (2)
__________
Total Revenues 147
__________
Operating Expenses and Taxes:
Administrative and general expenses 114
Tax expense 36
__________
Total Operating Expenses and Taxes 150
__________
NET INCOME (LOSS) $ (3)
==========
</TABLE>
<TABLE>
<CAPTION>
A.24 KOGAF ENTERPRISES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (27)
Net Income (3)
__________
BALANCE AT END OF YEAR $ (30)
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 LAKE ERIE LAND COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 256
Notes receivable 666
Other accounts receivable 5
Accounts receivable - associated companies 2,042
Prepayments 178
__________
Total Current Assets 3,147
__________
Other Property and Investments:
Other property at cost less depreciation 14,143
Investments at equity (302)
Investments at cost 19,703
__________
Total Other Property and Investments 33,544
__________
Other Assets:
Deferred charges and other 61
__________
Total Other Assets 61
__________
TOTAL ASSETS $ 36,752
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in capital 28,871
Retained earnings (4,336)
Retained earnings - current year (1,464)
Long term debt excluding amounts due 100
__________
Total Capitalization 23,172
__________
Current Liabilities:
Total accounts payable 3,996
Customer deposits 4
Accrued interest 11
Taxes accrued 107
Notes payable to associated companies 6,640
Other accruals 2,822
__________
Total Current Liabilities 13,580
__________
TOTAL LIABILITIES $ 36,752
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 LAKE ERIE LAND COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 3,119
Other income 29
__________
Total Revenues 3,148
__________
Operating Expenses and Taxes:
Operating expenses 1,739
Administrative and general expenses 1,583
Taxes other than income 193
Depreciation expense 665
Interest expense 787
Tax expense (517)
__________
Total 4,450
__________
Income (Loss) Before Subsidiaries (1,302)
__________
Subsidiary Gain (Loss) (162)
__________
NET INCOME (LOSS) $ (1,464)
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 LAKE ERIE LAND COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (4,336)
Net Income (1,464)
__________
BALANCE AT END OF YEAR $ (5,800)
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 SCC SERVICES, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 161
Other accounts receivable 133
Material and supplies at average cost 234
__________
Total Current Assets 528
__________
Other Assets:
Deferred charges and other 27
__________
Total Other Assets 27
__________
TOTAL ASSETS $ 555
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 57
Retained earnings (198)
Retained earnings - current year (162)
__________
Total Capitalization (302)
__________
Current Liabilities:
Total accounts payable 741
__________
Total Current Liabilities 741
__________
Other:
Deferred credits 116
__________
Total Other 116
__________
TOTAL LIABILITIES $ 555
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 SCC SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 3,477
__________
Total Operating Revenues 3,477
__________
Operating Expenses and Taxes:
Administrative and general expenses 3,563
Taxes other than income 183
Interest expense 1
Tax expense (108)
__________
Total Operating Expenses and Taxes 3,639
__________
NET INCOME (LOSS) $ (162)
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 SCC SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (198)
Net Income (162)
__________
BALANCE AT END OF YEAR $ (360)
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 N SQUARED AVIATION, L.L.C.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 N SQUARED AVIATION, L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 N SQUARED AVIATION, L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 NDC DOUGLAS PROPERTIES, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1
Accounts receivable - associated companies 5,609
__________
Total Current Assets 5,610
__________
Other Property and Investments:
Investments at equity 24,057
__________
Total Other Property and Investments 24,057
__________
TOTAL ASSETS $ 29,667
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (103)
Retained earnings - current year 909
Long term debt excluding amounts due 19,422
__________
Total Capitalization 20,229
__________
Current Liabilities:
Total accounts payable 34
Customer deposits 60
Interest accrued 1,299
Notes payable to associated companies 5,273
Other accruals 2,211
__________
Total Current Liabilities 8,877
__________
Other:
Deferred income taxes 561
__________
Total Other 561
__________
TOTAL LIABILITIES $ 29,667
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 NDC DOUGLAS PROPERTIES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ (163)
Other income 1
__________
Total Revenues (162)
__________
Operating Expenses and Taxes:
Administrative and general expenses 87
Taxes other than income 2
Interest expense 2,015
Tax expense (3,175)
__________
Total Operating Expenses and Taxes (1,071)
__________
NET INCOME (LOSS) $ 909
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 NDC DOUGLAS PROPERTIES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (103)
Net Income 909
__________
BALANCE AT END OF YEAR $ 806
==========
</TABLE>
<TABLE>
<CAPTION>
A.29 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1
Accounts receivable - associated companies 1
__________
Total Current Assets 2
__________
TOTAL ASSETS $ 2
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (1)
Retained earnings - current year (1)
__________
Total Capitalization (1)
__________
Current Liabilities:
Notes payable to associated companies 3
__________
Total Current Liabilities 3
__________
TOTAL LIABILITIES $ 2
==========
</TABLE>
<TABLE>
<CAPTION>
A.29 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues $ 0
_________
Operating Expenses and Taxes:
Administrative and general expenses 2
Tax expense (1)
_________
Total Operating Expenses and Taxes 1
_________
NET INCOME (LOSS) $ (1)
=========
</TABLE>
<TABLE>
<CAPTION>
A.29 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (1)
Net Income (1)
__________
BALANCE AT END OF YEAR $ (2)
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 NIPSCO SECURITY SERVICES, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 93
Other accounts receivable 382
Reserve - customer accounts (71)
Accounts receivable - associated companies 1,141
Material and supplies at average cost 1,595
Prepayments 1
__________
Total Current Assets 3,141
__________
Other Property and Investments:
Other property at cost less depreciation 91
__________
Total Other Property and Investments 91
__________
Other Assets:
Deferred charges and other 5
__________
Total Other Assets 5
__________
TOTAL ASSETS $ 3,237
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 54
Retained earnings (1,240)
Retained earnings - current year (1,030)
__________
Total Capitalization (2,215)
__________
Current Liabilities:
Total accounts payable 967
Customer deposits 50
Taxes accrued (1)
Notes payable to associated companies 4,535
Taxes withheld payables (42)
__________
Total Current Liabilities 5,509
__________
Other Liabilities:
Deferred income taxes (57)
__________
Total Other Liabilities (57)
__________
TOTAL LIABILITIES $ 3,237
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 NIPSCO SECURITY SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 1,657
__________
Total Operating Revenues 1,657
__________
Operating Expenses and Taxes:
Operating expenses 926
Administrative and general expenses 2,061
Taxes other than income 83
Depreciation expense 6
Interest expense 238
Tax expense (627)
__________
Total Operating Expenses and Taxes 2,687
__________
NET INCOME (LOSS) $ (1,030)
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 NIPSCO SECURITY SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (1,240)
Net Income (1,030)
__________
BALANCE AT END OF YEAR $ (2,270)
==========
</TABLE>
<TABLE>
<CAPTION>
A.31 PROCESS AND CONTROL TECHNOLOGY CORPORATION
BALANCE SHEET
December 31, 1996
(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.31 PROCESS AND CONTROL TECHNOLOGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.31 PROCESS AND CONTROL TECHNOLOGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (755)
Net Income 0
__________
BALANCE AT END OF YEAR $ (755)
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 RIC, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 9
Accounts receivable - associated companies 165
__________
Total Current Assets 174
__________
Other Property and Investments:
Other property at cost less depreciation 10
Investments at equity 202
__________
Total Other Property and Investments 212
__________
TOTAL ASSETS $ 386
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 350
Retained earnings (3,366)
Retained earnings - current year 86
__________
Total Capitalization (2,929)
__________
Current Liabilities:
Total accounts payable 61
Notes payable to associated companies 3,256
Taxes withheld payables (5)
__________
Total Current Liabilities 3,312
__________
Other:
Deferred income taxes 3
__________
Total Other 3
__________
TOTAL LIABILITIES $ 386
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 RIC, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Operating revenue $ 174
__________
Total Operating Revenue 174
__________
Operating Expenses and Taxes:
Administrative and general expenses $ 321
Taxes other than income 10
Depreciation expense 2
Interest expense 241
Tax expense (272)
__________
Total Operating Expenses and Taxes 302
__________
Income (Loss) Before Subsidiaries (128)
__________
Subsidiary Gain (Loss) 214
__________
NET INCOME (LOSS) $ 86
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 RIC, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (3,366)
Net Income 86
__________
BALANCE AT END OF YEAR $ (3,280)
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 CARDINAL PROPERTY MANAGEMENT, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 90
Other accounts receivable 2
Accounts receivable - associated companies 37
Notes receivable - associated companies 200
__________
Total Current Assets 329
__________
Other Property and Investments:
Other property at cost less depreciation 43
__________
Total Other Property and Investments 43
__________
TOTAL ASSETS $ 372
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (12)
Retained earnings - current year 214
__________
Total Capitalization 203
__________
Current Liabilities:
Total accounts payable 153
__________
Total Current Liabilities 153
__________
Other:
Deferred income taxes 7
Deferred credits 9
__________
Total Other 16
__________
TOTAL LIABILITIES $ 372
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 CARDINAL PROPERTY MANAGEMENT, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 537
Other income 5
__________
Total Revenues 542
__________
Operating Expenses and Taxes:
Administrative and general expenses 177
Taxes other than income 3
Depreciation expense 9
Interest expense 1
Tax expense 138
__________
Total Operating Expenses and Taxes 328
__________
NET INCOME (LOSS) $ 214
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 CARDINAL PROPERTY MANAGEMENT, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (12)
Net Income 214
__________
BALANCE AT END OF YEAR $ 202
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 RIVERSIDE CALORIC COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 3
Other accounts receivable 658
Accounts receivable - associated companies 112
__________
Total Current Assets 773
__________
Other Property and Investments:
Investments at equity 1,342
__________
Total Other Property and Investments 1,342
__________
TOTAL ASSETS $ 2,115
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (226)
Retained earnings - current year (89)
__________
Total Capitalization (314)
__________
Current Liabilities:
Total accounts payable 55
Taxes accrued (16)
Notes payable to associated companies 2,511
__________
Total Current Liabilities 2,550
__________
Other:
Deferred income taxes (121)
__________
Total Other (121)
__________
TOTAL LIABILITIES $ 2,115
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 RIVERSIDE CALORIC COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Other income $ 56
__________
Total Operating Revenues 56
__________
Operating Expenses and Taxes:
Administrative and general expenses 17
Interest expense 189
Tax expense (61)
__________
Total Operating Expenses and Taxes 145
__________
NET INCOME (LOSS) $ (89)
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 RIVERSIDE CALORIC COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (226)
Net Income (89)
__________
BALANCE AT END OF YEAR $ (315)
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NIPSCO ENERGY SERVICES, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 77
Other accounts receivable 373
Accounts receivable - associated companies 2,686
Notes receivable - associated companies 11,806
__________
Total Current Assets 14,942
__________
Other Property and Investments:
Other property at cost less depreciation 841
Investments at equity 5,907
__________
Total Other Property and Investments 6,748
__________
Other Assets:
Deferred charges and other 6,895
__________
Total Other Assets 6,895
__________
TOTAL ASSETS $ 28,585
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 2,888
Foreign currency translation adjustment (188)
Retained earnings 1,409
Retained earnings - current year 3,427
__________
Total Capitalization 7,536
__________
Current Liabilities:
Total accounts payable 3,162
Taxes accrued (13)
Notes payable to associated companies 17,539
Taxes withheld payables (80)
__________
Total Current Liabilities 20,608
__________
Other:
Deferred income taxes (291)
Deferred credits 732
__________
Total Other 441
__________
TOTAL LIABILITIES $ 28,585
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NIPSCO ENERGY SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 2,306
Other income 663
__________
Total Revenues 2,969
__________
Operating Expenses and Taxes:
Operating expenses 69
Administrative and general expenses 3,529
Taxes other than income 144
Depreciation expense 38
Amortization and depletion 55
Interest expense 1,182
Tax expense 677
__________
Total Operating Expenses and Taxes 5,694
__________
Income (Loss) Before Subsidiaries (2,725)
__________
Subsidiary Gain (Loss) 6,152
__________
NET INCOME (LOSS) $ 3,427
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NIPSCO ENERGY SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 1,409
Net Income 3,427
__________
BALANCE AT END OF YEAR $ 4,836
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 INVENTORY MANAGEMENT AND
DISTRIBUTION COMPANY, L.L.C.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 INVENTORY MANAGEMENT AND
DISTRIBUTION COMPANY, L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 INVENTORY MANAGEMENT AND
DISTRIBUTION COMPANY, L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.37 NESI ENERGY MARKETING, L.L.C.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 4,448
Other accounts receivable 37,865
Reserve - customer accounts (121)
Accounts receivable - associated companies 10,913
Natural gas in storage, weighted average 10,642
Prepayments 131
__________
Total Current Assets 63,878
__________
Other Property and Investments:
Other property at cost less depreciation 308
__________
Total Other Property and Investments 308
__________
Other Assets:
Deferred charges and other 1
__________
Total Other Assets 1
__________
TOTAL ASSETS $ 64,187
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Additional paid-in-capital $ (4,090)
Retained earnings - current year 5,211
__________
Total Capitalization 1,121
__________
Current Liabilities:
Total accounts payable 40,388
Taxes accrued 1
Notes payable to associated companies 21,010
Taxes withheld payables (9)
__________
Total Current Liabilities 61,390
__________
Other:
Deferred credits 1,676
__________
Total Other 1,676
__________
TOTAL LIABILITIES $ 64,187
==========
</TABLE>
<TABLE>
<CAPTION>
A.37 NESI ENERGY MARKETING, L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 172,118
Other income 26
__________
Total Operating Revenue 172,144
__________
Operating Expenses and Taxes:
Operating expenses 163,928
Administrative and general expenses 2,282
Taxes other than income 37
Depreciation expense 34
Interest expense 569
Tax expense 83
__________
Total Operating Expenses and Taxes 166,933
__________
NET INCOME (LOSS) $ 5,211
==========
</TABLE>
<TABLE>
<CAPTION>
A.37 NESI ENERGY MARKETING, L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Net Income $ 5,211
__________
BALANCE AT END OF YEAR $ 5,211
==========
</TABLE>
<TABLE>
<CAPTION>
A.38 NIPSCO ENERGY TRADING CORPORATION
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 13
Other accounts receivable (116)
Reserve - customer accounts (464)
Accounts receivable - associated companies 164
Notes receivable - associated companies 590
__________
Total Current Assets 187
__________
TOTAL ASSETS $ 187
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 4,698
Retained earnings - current year 109
Dividends - common shares (4,700)
__________
Total Capitalization 108
__________
Current Liabilities:
Total accounts payable 254
Taxes accrued 1
__________
Total Current Liabilities 255
__________
Other:
Deferred income taxes (176)
__________
Total Other (176)
__________
TOTAL LIABILITIES $ 187
==========
</TABLE>
<TABLE>
<CAPTION>
A.38 NIPSCO ENERGY TRADING CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 82
Other income 84
__________
Total Revenues 166
__________
Operating Expenses and Taxes:
Administrative and general expenses (15)
Taxes other than income 7
Interest expense 2
Tax expense 63
__________
Total Operating Expenses and Taxes 57
__________
NET INCOME (LOSS) $ 109
==========
</TABLE>
<TABLE>
<CAPTION>
A.38 NIPSCO ENERGY TRADING CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ 4,698
Net Income 109
Dividends declared common (4,700)
__________
BALANCE AT END OF YEAR $ 107
==========
</TABLE>
<TABLE>
<CAPTION>
A.39 PARKWAY ENGINEERING AND DISTRIBUTION COMPANY
BALANCE SHEET
For the Year Ended December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 134
Other accounts receivable 588
Acounts receivable - associated companies 306
Materials and supplies at average cost 268
___________
Total Current Assets 1,296
___________
Other Property and Investments:
Other property at cost less depreciation 251
___________
Total Other Property and Investments 251
___________
Other Assets:
Deferred charges and other 3
___________
Total other assets 3
___________
TOTAL ASSETS $ 1,550
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Common shares without par value $ 10
Additional paid-in capital 150
Retained earnings (398)
Retained earnings - current year (533)
__________
Total Capitalization (771)
__________
Current Liabilities:
Total accounts payable 364
Customer deposits 96
Taxes accrued 13
Notes payable to associated companies 1,554
Other accruals 4
Taxes withheld payables 6
__________
Total Current Liabilities 2,037
__________
Other Liabilities:
Deferred credits 284
__________
Total Other Liabilities 284
__________
TOTAL LIABILITIES $ 1,550
==========
</TABLE>
<TABLE>
A.39 PARKWAY ENGINEERING AND DISTRIBUTION COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 962
Other income 1
_________
Total Operating Revenue 963
_________
Operating Expense and Taxes:
Operating expenses 659
Administrative and general expenses 980
Taxes other than income 60
Depreciation expense 34
Interest expense 69
Tax expense (306)
_________
Total Operating Expense and Taxes 1,496
_________
NET INCOME (LOSS) $ (533)
=========
</TABLE>
<TABLE>
<CAPTION>
A.39 PARKWAY ENGINEERING AND DISTRIBUTION COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ (398)
Net income (loss) (533)
_________
BALANCE AT END OF YEAR $ (931)
=========
</TABLE>
<TABLE>
<CAPTION>
A.40 NIPSCO FUEL COMPANY, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 5,735
Other accounts receivable 1,790
Accounts receivable - associated companies 4,174
Prepayments 15
__________
Total Current Assets 11,714
__________
Other Property and Investments:
Other property at cost less depreciation 41,833
Investments at equity 586
Investments at cost 1,000
__________
Total Other Property and Investments 43,419
__________
Other Assets:
Deferred charges and other 438
__________
Total Other Assets 438
__________
TOTAL ASSETS $ 55,571
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (10,909)
Retained earnings - current year 2,261
Dividends: common shares (14,623)
__________
Total Capitalization (23,270)
__________
Current Liabilities:
Total accounts payable 8,049
Notes payable to associated companies 62,858
__________
Total Current Liabilities 70,907
__________
Other:
Deferred income taxes 8,682
Deferred credits (748)
__________
Total Other 7,934
__________
TOTAL LIABILITIES $ 55,571
==========
</TABLE>
<TABLE>
<CAPTION>
A.40 NIPSCO FUEL COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 20,930
Other income 1,091
__________
Total Revenues 22,021
__________
Operating Expenses and Taxes:
Operating expenses 4,257
Administrative and general expenses 577
Taxes other than income (1)
Depreciation expense 2
Amortization and depletion 9,363
Interest expense 4,730
Tax expense 923
__________
Total Operating Expenses and Taxes 19,851
__________
Income (Loss) Before Subsidiaries 2,170
__________
Subsidiary Gain (Loss) 91
__________
NET INCOME (LOSS) $ 2,261
==========
</TABLE>
<TABLE>
<CAPTION>
A.40 NIPSCO FUEL COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (10,909)
Net Income 2,261
Dividends declared common (14,623)
__________
BALANCE AT END OF YEAR $ (23,271)
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 NFCO ACQUISITION COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 31
Other accounts receivable 30
Accounts receivable - associated companies 26
Material and supplies at average cost 2
Notes receivable - associated companies 378
__________
Total Current Assets 467
__________
Other Property and Investments:
Other property at cost less depreciation 308
__________
Total Other Property and Investments 308
__________
TOTAL ASSETS $ 775
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 450
Retained earnings 43
Retained earnings - current year 91
__________
Total Capitalization 585
__________
Current Liabilities:
Total accounts payable 139
__________
Total Current Liabilities 139
__________
Other:
Deferred income taxes 51
__________
Total Other 51
__________
TOTAL LIABILITIES $ 775
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 NFCO ACQUISITION COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 346
Other income 18
__________
Total Revenues 364
__________
Operating Expenses and Taxes:
Operating expenses 111
Administrative and general expense 19
Amortization and depletion 87
Tax expense 56
__________
Total Operating Expenses and Taxes 273
__________
NET INCOME (LOSS) $ 91
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 NFCO ACQUISITION COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 43
Net Income 91
__________
BALANCE AT END OF YEAR $ 134
==========
</TABLE>
<TABLE>
<CAPTION>
A.42 NI-TEX, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1,591
Other accounts receivable (17)
Accounts receivable - associated companies 6,977
Natural gas in storage, weighted average 23
Notes receivable - associated companies 4,825
Prepayments 16
__________
Total Current Assets 13,415
__________
Other Property and Investments:
Investments at equity 6,462
__________
Total Other Property and Investments 6,462
__________
TOTAL ASSETS $ 19,877
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 10,562
Retained earnings - current year 3,941
Dividends - common shares (7,000)
__________
Total Capitalization 7,504
__________
Current Liabilities:
Total accounts payable 10,640
Taxes accrued 937
__________
Total Current Liabilities 11,577
__________
Other:
Deferred income taxes 931
Deferred credits (135)
__________
Total Other 796
__________
TOTAL LIABILITIES $ 19,877
==========
</TABLE>
<TABLE>
<CAPTION>
A.42 NI-TEX, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 59,584
Other income 297
__________
Total Revenues 59,881
__________
Operating Expenses and Taxes:
Operating expenses 52,567
Administrative and general expenses 885
Taxes other than income 15
Interest expense 4
Tax expense 2,469
__________
Total Operating Expenses and Taxes 55,940
__________
NET INCOME (LOSS) $ 3,941
==========
</TABLE>
<TABLE>
<CAPTION>
A.42 NI-TEX, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 10,562
Net Income 3,941
Dividends declared common (7,000)
__________
BALANCE AT END OF YEAR $ 7,503
==========
</TABLE>
<TABLE>
<CAPTION>
A.43 NESI POWER MARKETING, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.43 NESI POWER MARKETING, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.43 NESI POWER MARKETING, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.44 TRIUMPH NATURAL GAS, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.44 TRIUMPH NATURAL GAS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.44 TRIUMPH NATURAL GAS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.45 NIPSCO ENERGY SERVICE CANADA LIMITED
BALANCE SHEET
For the Year Ended December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Notes receivable - associated companies $ 8,610
___________
Total Current Assets 8,610
___________
Other Property and Investments:
Investments at equity 6,301
___________
Total Other Property and Investments 6,301
___________
TOTAL ASSETS $ 14,911
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Common shares without par value $ 7,011
Foreign currency tranlation adjustment 59
Retained earnings - current year (2,410)
__________
Total Capitalization 4,660
__________
Current Liabilities:
Notes payable to associated companies 10,251
__________
Total Current Liabilities 10,251
__________
TOTAL LIABILITIES $ 14,911
==========
</TABLE>
<TABLE>
A.45 NIPSCO ENERGY SERVICES CANADA LIMITED
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ (80)
Other income (211)
_________
Total Operating Revenue (291)
_________
Operating Expense and Taxes:
Administrative and general expenses 2,385
_________
Total Operating Expense and Taxes 2,385
_________
Income (loss) before subsidiaries (2,676)
_________
Subsidiary gain (loss) 266
_________
NET INCOME (LOSS) $ (2,410)
=========
</TABLE>
<TABLE>
<CAPTION>
A.45 NIPSCO ENERGY SERVICES CANADA LIMITED
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Net income (loss) $ (2,410)
_________
BALANCE AT END OF YEAR $ (2,410)
=========
</TABLE>
<TABLE>
<CAPTION>
A.46 SOUTHLAKE ENERGY INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Other accounts receivable $ 1,214
__________
Total Current Assets 1,214
__________
Other Property and Investments:
Other property at cost less depreciation 14,852
__________
Total Other Property and Investments 14,852
__________
Other Assets:
Deferred charges and other 43
__________
Total Other Assets 43
__________
TOTAL ASSETS $ 16,109
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 3,434
Foreign currency translation adjustment (11)
Retained earnings 603
Retained earnings - current year 266
__________
Total Capitalization 4,292
__________
Current Liabilities:
Total accounts payable 616
Note payable 1,831
Notes payable to associated companies 8,610
Other accruals 120
__________
Total Current Liabilities 11,177
__________
Other:
Deferred income taxes 640
__________
Total Other 640
__________
TOTAL LIABILITIES $ 16,109
==========
</TABLE>
<TABLE>
<CAPTION>
A.46 SOUTHLAKE ENERGY INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 1,255
__________
Total Operating Revenue 1,255
__________
Operating Expenses and Taxes:
Operating expenses 422
Administrative and general expenses 79
Amortization and depletion 338
Interest expense 7
Tax expense 143
__________
Total Operating Expenses and Taxes 989
__________
NET INCOME (LOSS) $ 266
==========
</TABLE>
<TABLE>
<CAPTION>
A.46 SOUTHLAKE ENERGY INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 603
Net Income 266
__________
BALANCE AT END OF YEAR $ 869
==========
</TABLE>
<TABLE>
<CAPTION>
A.47 NORTHERN INDIANA FUEL AND LIGHT COMPANY, INC.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility Plant $ 62,585
Less - accumulated provision for depreciation (17,258)
__________
Total Utility Plant 45,327
__________
Other Property and Investments:
Investments at equity 1,212
Investments at cost 3
__________
Total Other Property and Investments 1,215
__________
Current Assets:
Cash and cash equivalents 589
Accounts receivable, less reserve 6,673
Gas adjustment clause 1,454
Material and supplies at average cost 466
Natural gas in storage, weighted average 3,357
Prepayments and other 1,569
__________
Total Current Assets 14,108
__________
Other Assets:
Regulatory assets 372
Deferred charges and other (13)
__________
Total Other Assets 359
__________
TOTAL ASSETS $ 61,009
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 30,674
Additional paid-in-capital 7,295
Retained earnings 4,937
Retained earnings - current year 2,634
__________
Total Capitalization 45,540
__________
Current Liabilities:
Total accounts payable 5,770
Customer deposits 134
Taxes accrued 789
Interest accrued 27
Other accruals 1,450
__________
Total Current Liabilities 8,170
__________
Other:
Deferred income taxes 2,708
Deferred income tax credits amortized 519
Deferred credits 1,834
Regulatory income tax liability 2,238
__________
Total Other 7,299
__________
TOTAL LIABILITIES $ 61,009
==========
</TABLE>
<TABLE>
<CAPTION>
A.47 NORTHERN INDIANA FUEL AND LIGHT COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 36,174
Other income (171)
__________
Total Revenues 36,003
__________
Operating Expenses and Taxes:
Gas costs 23,275
Operation expenses 3,332
Administrative and general expenses 4,921
Taxes other than income 689
Interest expense 86
Tax expense 1,489
__________
Total Operating Expenses and Taxes 33,792
__________
Income (Loss) before subsidiaries 2,211
__________
Subsidiary Gain (Loss) 423
__________
NET INCOME (LOSS) $ 2,634
==========
</TABLE>
<TABLE>
<CAPTION>
A.47 NORTHERN INDIANA FUEL AND LIGHT COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 4,937
Net Income 2,634
__________
BALANCE AT END OF YEAR $ 7,571
==========
</TABLE>
<TABLE>
<CAPTION>
A.48 NORTHERN INDIANA TRADING COMPANY
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 44
Other accounts receivable 1,624
Accounts receivable - associated companies 670
__________
Total Current Assets 2,338
__________
Other Property and Investments:
Other property at cost less depreciation 807
__________
Total Other Property and Investments 807
__________
TOTAL ASSETS $ 3,145
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 788
Retained earnings - current year 423
__________
Total Capitalization 1,212
__________
Current Liabilities:
Total accounts payable 1,571
Taxes accrued 427
Refunds due customers within one year (113)
Other accruals 2
Taxes withheld payables 3
__________
Total Current Liabilities 1,890
__________
Other:
Deferred income taxes 43
__________
Total Other 43
__________
TOTAL LIABILITIES $ 3,145
==========
</TABLE>
<TABLE>
<CAPTION>
A.48 NORTHERN INDIANA TRADING COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 687
__________
Total Revenues 687
__________
Operating Expenses and Taxes:
Tax expense 264
__________
Total Operating Expenses and Taxes 264
__________
NET INCOME (LOSS) $ 423
==========
</TABLE>
<TABLE>
<CAPTION>
A.48 NORTHERN INDIANA TRADING COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 788
Net Income 423
__________
BALANCE AT END OF YEAR $ 1,211
==========
</TABLE>
<TABLE>
<CAPTION>
A.49 SPEEDWAY ACQUISITION CORP.
BALANCE SHEET
December 31, 1996
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.49 SPEEDWAY ACQUISITION CORP.
INCOME STATEMENT
For the Year Ended December 31, 1996
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.49 SPEEDWAY ACQUISITION CORP.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1996
(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 27th day of February, 1997.
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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