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FORM U-3A-2
(As adopted November 9, 1939)
File No. 69-344
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
Statement by Holding Company
Claiming Exemption Under Rule U-3A-2
from the Provisions of the
Public Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
SCEcorp
(Name of Company)
hereby files with the Securities Exchange Commission,
pursuant to Rule 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:
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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.
SCEcorp ("Claimant") is a corporation organized under the laws of
the State of California and having its principal place of business at 2244
Walnut Grove Avenue (P.O. Box 999), Rosemead, California 91770. It was
organized principally to acquire and hold securities of other corporations
for investment purposes. Claimant has the following subsidiaries:
a. SOUTHERN CALIFORNIA EDISON COMPANY ("Edison") is a California
corporation having its principal place of business at 2244 Walnut
Grove Avenue (P.O. Box 800), Rosemead, California 91770. Edison is
a public utility primarily engaged in the business of supplying
electric energy to portions of central and southern California,
excluding the City of Los Angeles and certain other cities. Edison
has the following subsidiaries (each of which has its principal
place of business at the same location as Edison, except as
otherwise indicated):
(1) CALIFORNIA ELECTRIC POWER COMPANY is an inactive
California corporation that remains from a 1964 merger with
Edison.
(2) CONSERVATION FINANCING CORPORATION is an inactive
California corporation that was originally formed to carry out
residential conservation financing programs.
(3) ENERGY SERVICES, INC. is a California corporation
engaged in the business of assisting Edison in optimizing the
use of its resources for the benefit of its ratepayers by
marketing Edison's capabilities, facilities, products,
information, and copyrighted materials to third parties.
Energy Services, Inc. does not engage in any activities that
would constitute owning or operating facilities used for the
generation, transmission, or distribution of electric energy
for sale.
(4) MONO POWER COMPANY is an inactive California corporation
that has been engaged in the business of exploring for and
developing fuel resources.
(A) THE BEAR CREEK URANIUM COMPANY is an inactive
California partnership between Mono Power Company and
Union Pacific Resources that has been engaged in
reclamation of an integrated uranium mining and milling
complex in Wyoming.
(5) SCE CAPITAL COMPANY is a Delaware corporation that acts
as a funding vehicle for financing of fuels, balancing
accounts and other corporate purposes of Edison.
(6) SOUTHERN STATES REALTY is a California corporation
engaged in providing real estate brokerage and consulting
services to Edison and third parties.
b. THE MISSION GROUP is a California corporation having its
principal place of business at 18101 Von Karman Avenue, Suite 1700,
Irvine, California 92715, and which was organized to own the stock
and coordinate the activities of several nonutility companies. The
subsidiaries of The Mission Group are as follows:
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(1) MISSION ENERGY COMPANY is a California corporation
having its principal place of business at 18101 Von Karman
Avenue, Suite 1700, Irvine, California 92715. Mission Energy
Company owns the stock of a group of corporations which,
primarily through partnerships with non-affiliated entities,
are engaged in the business of developing, owning and/or
operating cogeneration, geothermal and other energy or
energy-related projects pursuant to the Public Utility
Regulatory Policies Act of 1978. Mission Energy Company,
through wholly owned subsidiaries, also has ownership
interests in a number of independent power projects in
operation or under development that either have been reviewed
by the Commission's staff for compliance with the Act or are
or will be exempt wholesale generators under the Energy Policy
Act of 1992. In addition, some Mission Energy Company
subsidiaries have made fuel-related investments and a limited
number of non-energy related investments. These subsidiaries
and partnerships are as follows (unless otherwise indicated,
all entities are corporations and are organized under the laws
of the State of California):
Aguila Energy Company (LP)
American Bituminous Power Partners, L.P. (Delaware limited
partnership)
American Kiln Partners, L.P. (Delaware limited partnership)
Anacapa Energy Company (GP)
Salinas River Cogeneration Company (partnership)
Anacostia Energy Company (D.C. corporation) (inactive)
Arrowhead Energy Company
Crown Energy, L.P. (New Jersey partnership) (see 4.3)
Crown Vista Urban Renewal Corporation (New Jersey corporation)
Balboa Energy Company (GP)
Smithtown Cogeneration, L.P. (Delaware partnership)
Bergen Point Energy Company (GP)
TEVCO/Mission Bayonne Partnership (Delaware general partnership)
Blue Ridge Energy Company (GP)
Bretton Woods Cogeneration, L.P. (Delaware limited partnership)
BN Geothermal, Inc. (Delaware corporation)
Vulcan/BN Geothermal Power Company (Nevada general partnership)
Bretton Woods Energy Company (GP & LP)
Bretton Woods Cogeneration, L.P. (Delaware limited partnership)
Camino Energy Company (GP)
Watson Cogeneration Company (general partnership)
Capistrano Cogeneration Company (GP)
James River Cogeneration Company (North Carolina partnership)
Capitol Energy Company (D.C. corporation) (inactive)
Centerport Energy Company (GP & LP)
Riverhead Cogeneration I, L.P. (Delaware partnership)
Chesapeake Bay Energy Company (formerly Woodand Energy Company) (GP)
Delaware Clean Energy Project (Delaware general partnership)
Chester Energy Company
Clayville Energy Company
Oconee Energy, L.P. (Delaware limited partnership)
Colonial Energy Company (formerly Hentland Farm Energy Company)
(inactive)
Conejo Energy Company (GP & LP)
Andy Hoch (Del Ranch), L.P. (partnership)
Coronado Energy Company
Oconee Energy, L.P. (Delaware limited partnership)
Crescent Valley Energy Company (GP)
Beowawe Geothermal Power Company (general partnership)
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Crystal River Energy Company (GP & LP)
Glenwood Springs Salt Company, L.P. (partnership)
Del Mar Energy Company (GP)
Mid-Set Cogeneration Company (partnership)
Desert Sunrise Energy Company (Nevada corporation) (inactive)
Devereaux Energy Company (LP)
Auburndale Power Partners, Limited Partnership (Delaware limited
partnership)
Eastern Sierra Energy Company (GP & LP)
Saguaro Power Company, A Limited Partnership (partnership)
East Maine Energy Company (inactive)
El Dorado Energy Company (GP)
Auburndale Power Partners, Limited Partnership (Delaware limited
partnership)
EMP, Inc. (Oregon corporation) (GP & LP)
GEO East Mesa Limited Partnership (partnership)
GEO East Mesa Electric Co. (Nevada corporation)
Four Counties Gas Company (inactive)
Hanover Energy Company
Chickahominy River Energy Corp. (GP & LP)
Commonwealth Atlantic Limited Partnership (Delaware partnership)
(see 4.1)
Holtsville Energy Company (GP & LP)
Brookhaven Cogeneration, L.P. (Delaware partnership)
Indian Bay Energy Company (GP & LP)
Riverhead Cogeneration III, L.P. (Delaware partnership)
Jefferson Energy Company (GP & LP)
Gordonsville Energy, L.P. (Delaware partnership)
Kings Canyon Energy Company (inactive)
Kingspark Energy Company (GP & LP)
Smithtown Cogeneration, L.P. (Delaware partnership)
Laguna Energy Company (inactive)
La Jolla Energy Company (inactive)
Lake Grove Energy Company (inactive)
Lakeview Energy Company
Georgia Peakers, L.P. (Delaware limited partnership)
Lehigh River Energy Company (GP)
TEVCO/Mission Assets Partnership (Delaware general partnership)
Continental Energy Associates, Limited Partnership (Massachusetts
partnership)
Longview Cogeneration Company (formerly Columbia River Cogeneration
Company, formerly Cabrillo Energy Company)
Madera Energy Company (GP)
Brookhaven Cogeneration, L.P. (Delaware partnership)
Madison Energy Company (formerly Sunshine Generators, Inc.) (LP)
Gordonsville Energy, L.P. (Delaware partnership)
MEC International B.V. (Netherlands corporation) (Holding Company)
Hydro Energy B.V. (Netherlands Antilles company) (equity)
Compania Mediterranea de Energias, S.A. (Spain corporation)
(equity) (see 4.6)
Energias Hidraulicas, S.A. (Spain corporation) (equity)
Iberica de Energias, S.A. (Spain corporation) (equity) (see 4.14)
Iberian Hy-Power Amsterdam B.V. (Netherlands corporation) (equity)
Electra La Mella, S.A. (Spain corporation) (equity) (see 4.7)
Electrometalurgica del Ebro, S.A. (Spain corporation) (equity)
(see 4.8)
Hidroelectrica del Cadagua, S.A. (Spain corporation) (equity) (see
4.9)
Hidroelectrica de Casillas, S.A. (Spain corporation) (equity) (see
4.10)
Hidroelectrica de Olvera, S.A. (Spain corporation) (equity) (see
4.11)
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Hidroelectrica de Posadas, S.A. (Spain corporation) (equity) (see
4.12)
Hidroelectrica del Sossis, S.A. (Spain corporation) (equity) (see
4.13)
Hydro Energy B.V. (Netherlands Antilles company) (equity)
Compania Mediterranea de Energias, S.A. (Spain corporation)
(equity) (see 4.6)
Energias Hidraulicas, S.A. (Spain corporation) (equity)
Iberica de Energias, S.A. (Spain corporation) (equity) (see
4.14)
Latrobe Power Pty. Ltd. (Australian corporation)
Mission Victoria Partnership (Australian partnership) (equity)
Latrobe Power Partnership (Australian partnership) (equity)
Loy Yang B Joint Venture (Australian joint venture) (see
4.5)
Loy Yang Holdings Pty. Ltd. (Australian corporation)
Latrobe Power Pty. Ltd. (Australian corporation)
Mission Victoria Partnership (Australian partnership)
Latrobe Power Partnership (Australian partnership) (equity)
Loy Yang B Joint Venture (Australian joint venture) (see
4.5)
Mission Energy Australia Pty. Ltd. (Australian public company)
Latrobe Power Partnership (Australian partnership) (equity)
Loy Yang B Joint Venture (Australian joint venture) (see
4.5)
Mission Energy Ventures Australia Pty. Ltd. (Australian company)
Mission Victoria Partnership (Australian partnership)
Latrobe Power Partnership (Australian partnership) (equity)
Loy Yang B Joint Venture (Australian joint venture) (see
4.5)
Traralgon Power Pty. Ltd. (Australian corporation)
Mission Victoria Partnership (Australian partnership)
Latrobe Power Partnership (Australian partnership) (equity)
Loy Yang B Joint Venture (Australian joint venture) (see
4.5)
Mission Energy Asia Pte Ltd. (Singapore private limited company)
Mission Energy Company (UK) Limited (United Kingdom private limited
company)
Derwent Cogeneration Limited (United Kingdom private limited
company) (equity) (see 4.16)
Mission Energy Limited (United Kingdom private limited company)
Mission Energy Services Limited (United Kingdom private limited
company)
Mission (No. 2) Limited (United Kingdom private limited company)
(formerly Mowlem Power Ltd.)
Mission Energy Holdings Pty. Ltd. (Australian corporation)
Mission Energy Development Australia Pty. Ltd.(Australian
corporation)
Mission Energy Management Australia Pty. Ltd. (Australian
corporation)
Pride Hold Ltd. (United Kingdom corporation)
Lakeland Power Limited (United Kingdom private company) (see 4.15)
Traralgon Power Pty. Ltd. (Australian corporation)
Mission Victoria Partnership (Australian partnership)
Latrobe Power Partnership (Australian partnership) (equity)
Loy Yang B Joint Venture (Australian joint venture) (see
4.5)
Mission Energy Asia (formerly Cypress Energy Company)
Mission Energy Canada Corporation (British Columbia company)
B.C. Star Partners (partnership)
The Mission Interface Partnership (Province of Ontario general
partnership)
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Mission Energy Fuel Company
Mission Energy Methane Company
Mission Energy Oil and Gas Company
Four Star Oil & Gas Company (partnership)
Mission Energy Petroleum Company
Pocono Fuels Company (inactive)
Southern Sierra Gas Company
TM Star Fuel Company (general partnership)
Mission Energy Indonesia (formerly Chula Energy Company)
Mission Energy Mexico (inactive)
Mission Energy New York, Inc. (formerly Allegheny Energy Company) (GP &
LP)
Brooklyn Navy Yard Cogeneration Partners, L.P. (Delaware partnership)
Mission Energy Westside, Inc. (formerly Sun Coast Energy Company)
Mission Operation and Maintenance, Incorporated
Mission Triple Cycle Systems Company (GP)
Triple Cycle Partnership (Texas general partnership)
Niguel Energy Company (GP & LP)
Elmore, Ltd. (partnership)
Northern Sierra Energy Company (GP)
Sobel Cogeneration Company (general partnership)
Ortega Energy Company
Otter Point Energy Company (Maryland corporation) (inactive)
Panther Timber Company (GP)
American Kiln Partners, L.P. (Delaware limited partnership)
Patapsco Energy Company (inactive)
Pleasant Valley Energy Company (GP)
American Bituminous Power Partners, L.P. (Delaware limited
partnership)
Prince George Energy Company (LP)
Hopewell Cogeneration Limited Partnership (Delaware limited
partnership)
Hopewell Cogeneration Inc. (Delaware corporation)
Hopewell Cogeneration Limited Partnership (Delaware limited
partnership)
Quartz Peak Energy Company (LP)
Nevada Sun-Peak Limited Partnership (Nevada partnership)
Rapidan Energy Company (GP)
Gordonsville Energy, L.P. (Delaware partnership)
Reeves Bay Energy Company (GP & LP)
North Shore Energy, L.P. (Delaware partnership)
Northville Energy Corporation (New York corporation)
Ridgecrest Energy Company (GP)
Riverhead Cogeneration I, L.P. (Delaware partnership)
Rio Escondido Energy Company
Energia Del Norte, S.A. de C.V. (partnership)
Minera Carbonifera Rio Escondido, S.A. de C.V. (Mexico
corporation)
Riverport Energy Company (GP & LP)
Riverhead Cogeneration II, L.P. (Delaware partnership)
San Felipe Energy Company (GP & LP)
Leathers, L.P. (partnership)
San Gabriel Energy Company (inactive)
San Jacinto Energy Company (inactive)
San Joaquin Energy Company (GP)
Midway-Sunset Cogeneration Company, L.P. (partnership)
San Juan Energy Company (GP)
March Point Cogeneration Company (partnership)
San Pedro Energy Company (GP)
Riverhead Cogeneration II, L.P. (Delaware partnership)
Santa Ana Energy Company (GP)
Riverhead Cogeneration III, L.P. (Delaware partnership)
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Santa Clara Energy Company (GP)
North Shore Energy, L.P. (Delaware partnership)
Northville Energy Corporation (New York corporation)
Silverado Energy Company (GP)
Coalinga Cogeneration Company (partnership)
Silver Springs Energy Company
Georgia Peakers, L.P. (Delaware limited partnership)
Sonoma Geothermal Company (GP & LP)
Geothermal Energy Partners Ltd. (partnership)
South Coast Energy Company (GP)
Harbor Cogeneration Company (partnership)
Southern Sierra Energy Company (GP)
Kern River Cogeneration Company (general partnership)
MH V (partnership) (up to 12/31/93)
Centennial Place L.P. (partnership)
Viejo Energy Company (GP)
Sargent Canyon Cogeneration Company (partnership)
Vista Energy Company (New Jersey corporation) (GP & LP)
Vista Energy, L.P. (New Jersey limited partnership)
Crown Vista Urban Renewal Corporation (New Jersey corporation)
Western Sierra Energy Company (GP)
Sycamore Cogeneration Company (general partnership)
Winters Run Energy Company (Maryland corporation) (inactive)
(2) MISSION FIRST FINANCIAL is a California corporation having
its principal place of business at 18101 Von Karman Avenue, Suite
1700, Irvine, California 92715. It is engaged in the business of
leveraged-leasing transactions and other project financings, either
directly or through subsidiaries. Mission First Financial owns a
group of subsidiaries (each of which is a California corporation
having its principal place of business at the same location as
Mission First Financial, except for Mission Investments, Inc., which
has its principal place of business at ABN Trustcompany, Guardian
Building, Havensight, 2nd Floor, St. Thomas, U.S. Virgin Islands;
and Mission (Bermuda) Investments, Ltd., which has its principal
place of business at Clarendon House, 2 Church Street, Hamilton HM
CX, Bermuda) and has interests in various partnerships through its
subsidiaries. These subsidiaries and partnerships are as follows
(unless otherwise indicated, all entities are corporations and are
organized under the laws of the State of California):
Mission Funding Company
Mission Funding Gamma
Mission Funding Epsilon
Mission Funding Delta
Mission Investments, Inc. (U.S. Virgin Islands corporation)
Mission Funding Alpha
Mission (Bermuda) Investments, Ltd. (Bermuda corporation)
GEM Energy Company (New York partnership)
Mission Funding Beta
Mission Funding Theta
Mission Funding Kappa
ABB Funding Partners, L.P. (partnership)
Mission Housing Investments
Abby Associates L.P. (Windmere) (partnership) (commitment)
AE Associates L.P. (Avenida Espana) (partnership) (commitment)
Argyle Redevelopment Partnership, Ltd. (Colorado partnership)
Bartlett Hill Associates L.P. (partnership)
Berry Avenue Associates L.P. (partnership) (commitment)
Carlton Way Apartments L.P. (partnership) (commitment)
Centertown Associates L.P. (partnership)
Centro Partners L.P. (partnership) (commitment)
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Corona Ely/Ranch Associates L.P. (partnership) (commitment)
Coyote Springs Apartments Associates L.P. (partnership)
Crescent Arms L.P. (partnership) (commitment)
Cypress Cove Associates (partnership)
Delta Plaza Associates (partnership)
EAH Larkspur Creekside Associates L.P. (partnership)
East Cotati Avenue Partners L.P. (partnership)
Edmundson Associates L.P. (partnership)
Farm (The) Associates L.P. (partnership)
Fell Street Housing Associates L.P. (partnership) (commitment)
Gilroy Redwood Associates L.P. (Redwoods) (partnership)
Ginzton Associates L.P. (partnership)
Grossman Apartments Investors L.P. (partnership) (commitment)
Heather Glen Associates L.P. (partnership)
Holy Family Associates L.P. (partnership)
Hope West Apartments L.P. (partnership) (commitment)
Kennedy Lofts Associates L.P. (Massachusetts partnership)
La Brea/Franklin L.P. (partnership) (commitment)
Larkin Pine L.P. (partnership) (commitment)
MH I (partnership)
California Park Apartments L.P. (partnership)
MH II (partnership)
5363 Dent Avenue Associates L.P. (partnership)
MH III (partnership)
DeRose Housing Associates L.P. (partnership)
MH IV (partnership)
MPT Apartments L.P. (MacArthur Park) (partnership)
MH V (partnership)
Centennial Place L.P. (partnership)
Mar Associates L.P. (partnership)
Mayacamas Village Associates L.P. (partnership) (commitment)
Mid-Peninsula Sharmon Palms Associates L.P. (Sharmon Palms)
(partnership)
Mission Capp L.P. (partnership)
Mission Housing Alpha
Lee Park Investors L.P. (Pennsylvania partnership)
Mission Housing Beta
Richmond City Center Associates L.P. (partnership)
Mission Housing Gamma
Del Carlo Court Associates L.P. (partnership)
Mission Housing Delta
MH I (partnership)
California Park Apartments L.P. (partnership)
MH II (partnership)
5363 Dent Avenue Associates L.P. (partnership)
MH III (partnership)
DeRose Housing Associates L.P. (partnership)
MH IV (partnership)
MPT Apartments L.P. (MacArthur Park) (partnership)
MH V (partnership) (After 1/1/94)
Centennial Place L.P. (partnership)
Mission Housing Epsilon
Mission Housing Zeta
Mission Housing Theta
Mission Housing Investors Partnership
Forest Winds Associates L.P. (partnership) (commitment)
Glen Eden Associates L.P. (partnership) (commitment)
Gray's Meadows Investors L.P. (partnership) (commitment)
Prince Bozzuto L.P. (Maryland partnership) (commitment)
Rancho Park Associates L.P. (partnership)
Rustic Gardens Associates L.P. (partnership)
Sea Ranch Apartments L.P. (partnership)
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Springdale Kresson Associates, L.P. (New Jersey partnership)
1028 Howard Street Associates L.P. (partnership)
(commitment)
Morrone Gardens Associates L.P. (partnership) (commitment)
Neary Lagoon Associates L.P. (partnership)
Open Doors Associates L.P. (partnership) (commitment)
Pajaro Court Associates L.P. (partnership) (commitment)
Palmer House L.P. (partnership)
Park Place Terrace L.P. (partnership) (commitment)
Pilot Grove L.P. (Massachusetts partnership)
Pinole Grove Associates (partnership) (commitment)
Post Office Plaza L.P. (Ohio partnership)
Rincon De Los Esteros Associates L.P. (partnership) (commitment)
Riverside/Liebrandt Partners L.P. (partnership) (commitment)
Rosebloom Associates L.P. (partnership)
Runsen Associates L.P. (partnership) (commitment)
San Pablo Senior Housing Associates L.P. (partnership)
San Pedro Gardens Associates L.P. (partnership)
Santa Paulan Senior Apartments Associates L.P.(partnership)
Second Street Center L.P. (partnership) (commitment)
South Beach Housing Associates L.P. (partnership)
Stoney Creek Associates L.P. (partnership)
Studebaker Building L.P. (partnership)
Sultana Acres Associates L.P. (partnership)
Tabor Grand L.P. (Colorado partnership)
The Josephinum Associates L.P. (Washington partnership)
Tierra Linda Associates L.P. (partnership) (commitment)
Tlaquepaque Housing Associates L.P. (partnership) (commitment)
Tuscany Associates L.P. (partnership) (commitment)
Washington Creek Associates L.P. (partnership)
Westport Village Homes Associates L.P. (partnership)
Wheeler Manor Associates L.P. (partnership)
Winfield Hill Associates L.P. (partnership) (commitment)
YWCA Villa Nueva Partners L.P. (partnership)
16th & Church Street Associates L.P. (partnership)
1101 Howard Street Associates L.P. (partnership) (commitment)
210 Washington Avenue Associates (Connecticut partnership)
Mission First Asset Investment
Mission Funding Zeta
Huntington L.P. (New York partnership)
Renewable Energy Capital Company
Burlington Apartments, Inc.
Burlington Arboretum L.P. (partnership)
(3) MISSION LAND COMPANY is a California corporation having its
principal place of business at 18101 Von Karman Avenue, Suite 800,
Irvine, California 92715. It is engaged, directly and through its
subsidiaries, in the business of developing, owning and managing
industrial parks and other real property investments. Its
subsidiaries (each of which, except as noted otherwise, is a
corporation, is organized under the laws of the State of California
and has the same place of business as Mission Land Company) are:
Associated Southern Investment Company
Calabasas Park Company (partnership) (inactive)
Central Valley/Calabasas L.P. (partnership)
Calabasas Palatino, Inc. (inactive)
California Commerce Center--North, L.P. (partnership)
Carol Point Builders I (partnership) (up to 12/31/93)
Carol Point Builders II (partnership) (up to 12/31/93)
Carol Stream Developers (partnership)
Centrelake Partners, L.P. (partnership)
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Corona Partners, L.P. (partnership)
Irwindale Land Company (inactive)
Lusk-Mission Industrial Partners I (partnership)
Mission Airport Park Development Co.
Ontario Airport Industrial Park (partnership)
Mission-CCH I, L.P. (partnership)
Mission-Comstock Crosser Hickey (partnership)
Mission-DAI I, L.P. (partnership) (inactive)
Mission-Dominion Partners I, L.P. (partnership) (equity)
Mission Industrial Constructors, Inc. (inactive)
Mission-Koll I, L.P. (partnership)
Mission-Messenger Vacaville (partnership)
Mission-Nexus I, L.P. (partnership)
Mission-Nexus II, L.P. (partnership)
Mission-Ontario, Inc. (inactive)
Mission-Shea I, L.P. (partnership) (equity)
Mission-701 Minnesota (partnership) (equity)
Mission South Bay Company (inactive)
Mission Texas Property Holdings, Inc.
Ontario Lakeshore Partners, L.P. (partnership)
Parkway Business Centre Partners, Ltd. (partnership) (equity) (inactive)
Realco Texas Master Limited Partnership (Texas partnership)
(4) MISSION POWER ENGINEERING COMPANY is a California corporation
having its principal place of business at 18101 Von Karman Avenue,
Suite 1700, Irvine, California 92715. It is currently an inactive
company. Its subsidiaries (each of which, except as noted
otherwise, is a corporation, is organized under the laws of the
State of California and has the same place of business as Mission
Power Engineering Company) are:
Associated Southern Engineering Company (inactive)
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.
Claimant is not a "public utility company" as that term is defined
in the Public Utility Holding Company Act of 1935 (the "Act") and does
not own any properties used for the generation, transmission and
distribution of electric energy for sale, or for the production,
transmission and distribution of natural or manufactured gas. None of
Claimant's subsidiaries, other than Edison, is a public utility company.
Edison is an "electric utility company" as defined in the Act and owns
properties used for the generation, transmission and distribution of
electric energy for sale, as described herein.
Edison owns and operates 12 oil- and gas-fueled generating plants,
one diesel-fueled generating plant, 38 hydroelectric plants and an
undivided 75.05% interest in Units 2 and 3 of the San Onofre Nuclear
Generating Station. These plants are located in central and southern
California. Edison also owns an undivided 15.8% interest in Units 1, 2
and 3 of the Palo Verde Nuclear Generating Station, located near Phoenix,
Arizona; and an undivided 48% interest in Units 4 and 5 of the Four
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Corners Project, a coal-fueled steam electric generating plant in New
Mexico; all of which are operated by other utilities. Edison operates and
owns a 56% undivided interest in two coal-fueled steam electric generating
units at the Mohave Project in Clark County, Nevada. Schedule I attached
hereto contains a list of all of the Edison-owned generating plants with
their locations, initial dates of operation and generator nameplate
ratings.
Edison's transmission facilities consist of approximately: 11,168
circuit miles of overhead lines and 127 circuit miles of underground lines
located in California; 559 circuit miles of overhead lines in Nevada; and
114 circuit miles of overhead lines in Arizona. Edison's distribution
facilities consist of approximately 61,420 pole miles of overhead lines
and 27,462 miles of underground lines, and 507 distribution substations,
all of which are located in California.
3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR 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.
Claimant: None.
Edison: 73,307,539,000 kwh of electric energy sold at
retail or wholesale.
(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.
Claimant: None.
Edison: 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.
Claimant: None.
Edison: 1,835,280,000 kwh of electric energy sold at
wholesale outside California or at the state
line.
(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.
Claimant: None.
Edison: 4,500,530,200 kwh of electric energy purchased
outside California or at the state line.
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:
<PAGE>
(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.
(b) NAME OF EACH SYSTEM COMPANY THAT HOLDS AN INTEREST IN SUCH EWG
OR FOREIGN UTILITY COMPANY; AND DESCRIPTION OF THE INTEREST
HELD.
(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.
(d) CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY
COMPANY DURING THE REPORTING PERIOD.
(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).
EXEMPT WHOLESALE GENERATORS (EWGs):
- -----------------------------------
4.1 COMMONWEALTH ATLANTIC LIMITED PARTNERSHIP
(a) Commonwealth Atlantic Limited Partnership ("CALP")
2837 South Military Highway
Chesapeake, VA 23323-0286
CALP is a 340 MW gas and distillate oil fired peaking power
generation facility selling power to Virginia Power (the
"Facility").
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its subsidiary Hanover
Energy Company owns Chickahominy River Energy Corp. which in
turn owns a 1% general partner interest and a 49% limited
partner interest in CALP.
(c) Chickahominy River Energy Corp. made a capital contribution of
$14,000,000 to CALP. Mission Energy Company owns a 50% interest
through its wholly owned subsidiary Hanover Energy Company, in
CALP, which is the owner of the Facility. The Facility went
into operation on June 4, 1992. Mission Energy provided
indemnities to the title company insuring against mechanics'
liens on the Facility. Prior to the closing of the non-recourse
Facility financing, Hanover Energy, through a series of loans,
provided the funds for the development of the Facility. Because
construction work had commenced prior to the time of the closing
of the Facility financing, the title company required
indemnities for mechanics' liens that might be filed for the
prior construction work. Mission Energy provided the
indemnities because its subsidiary, in the absence of Facility
<PAGE>
financing, would have been required to provide the funds
necessary to clear any mechanics' liens. The turnkey
construction contract provides for the contractor, Westinghouse,
to be responsible for clearing any mechanics' liens. Therefore,
if Mission Energy were required to make any payments under the
indemnity, Westinghouse would be liable to Mission Energy. At
this time, no mechanics' liens have been filed and we are aware
of no facts giving rise to a lien claim.
(d) Capitalization or total equity = $14,000,000
Net income after taxes for 1993 = $227,201
(e) There are no contracts between CALP and any system company.
4.2 NEVADA SUN-PEAK LIMITED PARTNERSHIP
(a) Nevada Sun-Peak Limited Partnership
200 South Virginia Street
Reno, Nevada 89501
Nevada Sun-Peak L.P. owns a three unit, natural gas and oil
fired combustion turbine generation facility designed to produce
a net output of approximately 210 MW. The combustion turbines
(General Electric PG 7111-EA-CTGs) are capable of operating on
either natural gas or No. 2 distillate fuel oil. The
transmissi`on facilities associated with the plant are owned by
Nevada Power Company. The facility is located near Las Vegas,
Nevada.
Commercial operation began on June 8, 1991.
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which owns 100% of Quartz Peak Energy
Company, which in turn owns Nevada Sun-Peak Limited Partnership,
the exempt wholesale generator.
(c) The capital contribution of $8,125,500 was made by Quartz Peak
Energy Company.
(d) Capitalization or total equity = $8,125,500
Net income after taxes = $1,891,049
(e) There are no contracts between Nevada Sun-Peak and any system
company.
4.3 CROWN ENERGY, L.P. (not operational)
(a) Crown Energy, L.P.
Paradise Road at Crown Point Road
Thorofare, New Jersey 08086
Crown Energy is a twin tower facility; there are two 181 MW
coal fired towers. The other tower is owned by Vista Energy,
L.P. (see 4.4). This project is located in Thorofare, West
Deptford County, New Jersey.
Crown Energy is scheduled to become operational in 1997.
<PAGE>
4.4 VISTA ENERGY, L.P. (not operational)
(a) Vista Energy, L.P.
Paradise Road at Crown Point Road
Thorofare, New Jersey 08086
Vista Energy is a twin tower facility; there are two 181 MW
coal fired towers. The other tower is owned by Crown Energy,
L.P. (see 4.3). This project is located in Thorofare, West
Deptford County, New Jersey.
Vista Energy is scheduled to become operational in 1997.
FOREIGN UTILITY COMPANIES:
- --------------------------
4.5 LOY YANG B JOINT VENTURE
(a) Loy Yang B Joint Venture ("LYBJV")
Bartons Lane
Loy Yang
Victoria, Australia 3844
LYBJV owns two coal-fired generating plants with generator name
plate ratings of 500,000 kw each, located in the Latrobe Valley
in the State of Victoria, Australia. Unit 1 began commercial
operation on September 30, 1993. Unit 2 is expected to be put
into operation on September 30, 1996.
(b) SCEcorp owns 100% of The Mission Group; The Mission Group owns
100% of Mission Energy Company, which owns 100% of MEC
International B.V.; indirect, wholly owned subsidiaries of MEC
International B.V., collectively own 51% of the interests in
Loy Yang B Joint Venture, the foreign utility company, as
explained below.
The system-owned venturer is Latrobe Power Partnership ("LPP"),
which owns the 51% interest. LPP is 58% owned by Mission Energy
Australia Pty Ltd (the managing general partner) and 42% owned
by Mission Victoria Partnership (a general partner).
Mission Energy Australia Pty Ltd is wholly owned by Loy Yang
Holdings Pty Ltd, which is a wholly owned subsidiary of MEC
International B.V.
Mission Victoria Partnership is 52.31% owned by Latrobe Power
Pty Ltd (general partner), 46.69% owned by Traralgon Power Pty
Ltd (general partner), and 1% owned by Mission Energy Ventures
Australia Pty Ltd (managing general partner). Latrobe Power
Pty Ltd and Traralgon Power Pty Ltd are both wholly owned
subsidiaries of MEC International B.V. Mission Energy Ventures
Australia Pty Ltd is wholly owned by Loy Yang Holdings Pty Ltd,
which is owned as described above.
(c) LPP's capital contribution = US$13.00
Guarantees
<PAGE>
1. MEC Undertaking
In the document between Mission Energy and the Bank Group
entitled "MEC Undertaking," Mission Energy is obligated (i)
to support all performance obligations of Mission Energy
Management Australia Pty Ltd ("MEMA") (the Operator under
the Operation and Maintenance Agreement) and (ii) to
provide up to US$3,381,000 in any year to MEMA in the event
that MEMA incurs certain liabilities under the Operation
and Maintenance Agreement.
2. Guarantee Related to Interest Rate Swap
If the Bank Group does not extend the maturity of the
Project facility, LPP will be in an overswapped position
beginning in the year 2000. In order to cap LPP's exposure
to interest rates as a result of overswapping, the State
Electricity Commission of Victoria ("SECV") agreed to make
payments to LPP when floating interest rates are below a
given level. SECV required Mission Energy to execute a
document entitled "Delta Risk Charge--Covenant Guarantee
and Indemnity" whereby Mission Energy guaranteed payment
to the SECV of amounts equal to the amounts payable by SECV
to LPP under the compensation mechanism described above.
Mission Energy has an exposure under this guarantee only
if short term interest rates in Australia are below 6.4%.
In the event that rates are below 6.4%, the maximum amount
of Mission Energy's exposure under this guarantee would be
approximately US$3,381,000.
3. Guarantees Related to Equity Infusion
In the following three separate documents, Mission Energy
has basically guaranteed, inter alia, the same obligation
of LPP contained in the Project Facilities Agreement to
provide equity:
a. Equity Support Guarantee
In the document between Mission Energy and the Bank
Group entitled "Equity Support Guarantee," Mission
Energy is obligated to provide equity during or at the
end of the construction period to meet shortfalls or
financial ratios in the event the amount contributed
under the equity subscription deed is insufficient to
meet such shortfalls or ratios. This document contains
the following four separate obligations:
(1) The obligation to provide the greater of 25% of the
maximum aggregate loan commitments under the Project
Facilities Agreement upon completion of construction
of Unit 2 of the Loy Yang B Project or an amount
that provides a loan life cover ratio of 1.4 plus
(b) six months interest on the (a) amount.
(2) The obligation to provide up to US$33,381,000 if
there is a revenue shortfall due to a failure of
Unit 1 to perform as expected prior to Unit 2
coming on line.
<PAGE>
(3) The obligation to provide equity sufficient for
funding of debt service reserve up to US$35,162,400
upon completion of Unit 2.
(4) The obligation to provide an amount equal to the
difference between forecast project revenues and
project revenues based on an adjusted tariff, in the
situation where the tariff adjustment results from
a decrease in construction cost due to construction
drawdowns occurring slower than scheduled.
b. Mission Energy Undertaking
In the document agreed to by Mission Energy for the
benefit of SECV, as a participant in the Loy Yang B
Joint Venture, entitled "Mission Energy Company
Undertaking," Mission Energy agreed to provide an equity
contribution of approximately US$220,095,000 in 1996 to
LPP.
c. Letter of Credit and Reimbursement Agreement
In the document between Mission Energy as borrower, and
Bank of America National Trust and Savings Association
("NT&SA"), as Agent, entitled "Letter of Credit and
Reimbursement Agreement," Mission Energy has guaranteed
LPP's obligation to subscribe equity in 1996 up to the
amount of US$236,602,125. In the event that Mission
Energy fails to satisfy its obligations under this
document, SCEcorp has executed a "Purchase Agreement"
whereby SCEcorp must within 60 days purchase Mission
Energy's reimbursement obligation up to a limit of
US$300,000,000. Such purchase by SCEcorp would be deemed
an equity contribution.
(d) LPP's Net Loss for 1993 = (US$5,186,772)
LPP's Equity = (US$5,186,759)
(e) An indirect, wholly owned subsidiary of MEC International B.V.,
Mission Energy Management Australia Pty Ltd, operates the
generating plant pursuant to an operating and maintenance
contract. The intermediate holding company of Mission Energy
Management Australia Pty Ltd is Mission Energy Holdings Pty
Ltd. As operator, Mission Energy Management Australia Pty Ltd
performs the following services: management and supervision
of the construction commissioning, testing, operation and
maintenance of the Loy Yang B power station on behalf of the
joint venture participants.
In 1993, Mission Energy Management Australia Pty Ltd was paid
US$299,587 determined as follows: base yearly operating fee
of US$1,144,440 per unit (escalated annually) payable monthly
in arrears, for period of operation in three (3) months
(September 30, 1993 to December 31, 1993). Fee equates to
US$99,862 per month in 1993-94.
4.6 COMPANIA MEDITERRANEA DE ENERGIAS, S.A.
(a) Compania Mediterranea de Energias, S.A. ("Mediterranea")
Fortuny, 45
28010 Madrid, Spain
<PAGE>
Mediterranea's facilities consist of the following six
mini-hydroelectric facilities which are capable of producing
a total of 25.9 MW:
1. Logrono is a 3.65 MW facility located in Logrono, La Rioja
2. Mendavia is a 5.60 MW facility located in Mendavia, Navarra
3. La Ribera is a 4.40 MW facility located in Pradejon, La
Rioja
4. Gelsa is a 7.20 MW facility located in Gelsa, Zaragoza
5. Alos is a 2.80 MW facility located in Alos de Balaguer,
Lerida
6. Castellas is a 2.25 MW facility located in Vall's de
Aguilar, Lerida
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its wholly owned
subsidiary MEC International B.V. ("MECI") owns 34% of Iberian
Hy-Power Amsterdam B.V., which owns 90% of Hydro Energy B.V.,
which in turns owns 100% of Mediterranea. MECI also owns
directly 10% of Hydro Energy B.V.
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V., and then through Hydro Energy B.V. was
$2,039,762. In August, 1993, MECI, through MECI's 34%
ownership interest in Hydro Energy B.V., has acquired an
aggregate 40.6% interest in Energias Hydraulicas, S.A. ("EH")
from Energies, S.A., the hydroelectric development subsidiary
of Compagne Generale des Eaux ("CGE"). CGE is a French water
utility company. EH is a Spanish holding company which owns
13 small hydro facilities located in Spain.
In connection with the acquisition of EH, CGE provided to EH
a 10-year limited revenue guaranty, which allowed EH to secure
non-recourse project financing. Consideration to CGE for the
acquisition of EH included the assumption by Hydro Energy B.V.
of an existing loan with deferred payments to CGE beginning in
1999 and ending in 2003. Mission Energy Company has provided
a guaranty for any such deferred payments which are outstanding
as of September 30, 2003 (six months after the due date for all
such deferred payments). The guaranty by Mission Energy
Company provides for no rights of acceleration by CGE under any
circumstances. At December 31, 1993, the present value of the
deferred payments will amount to $14.9 million ($44.3 million
face value discounted at 11.5%).
(d) Capitalization or total equity = $5,999,300
Net Income after taxes for 1993 = $1,384,288
(e) There are no contracts between Mediterranea and any system
company.
<PAGE>
4.7 ELECTRA LA MELLA, S.A.
(a) Electra La Mella, S.A. ("La Mella")
Ercilla
26-6o Centro
48011 Bilbao, Spain
La Mella is a 380 KW masonry weir, mini-hydroelectric facility
located near the Cadagua River in Bilbao.
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its wholly owned
subsidiary MEC International B.V., owns 34% of Iberian Hy-Power
Amsterdam B.V., which owns 70% of La Mella.
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $75,886.
(d) Capitalization or total equity = $318,851
Net Income after taxes for 1993 = $22,782
(e) There are no contracts between La Mella and any system company.
4.8 ELECTROMETALURGICA DEL EBRO, S.A.
(a) Electrometalurgica del Ebro, S.A. ("EMESA")
Av. Roma 40-42
Barcelona and Ercilla
26-6o Centro
48011 Bilbao, Spain
EMESA's facilities consist of three mini-hydroelectric
facilities (Sastago 1, Sastago 2 and Menuza) all located near
the Ebro River in Zaragoza. The three mini-facilities are
masonry weir, concrete intake structures capable of producing
3 MW, 17.3 MW and 16.5 MW, respectively.
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its wholly owned
subsidiary MEC International B.V., owns 34% of Iberian Hy-Power
Amsterdam B.V., which owns 80.10% of EMESA.
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $512,168.
(d) Capitalization or total equity = $1,882,971
Net Loss after taxes for 1993 = ($1,840,535)
(e) There are no contracts between EMESA and any system company.
4.9 HIDROELECTRICA DEL CADAGUA, S.A.
(a) Hidroelectrica del Cadagua, S.A. ("Cadagua")
Nava de Mena
Termino Municipal de Villasana de Mena
Burgos
Central offices in:
Ercilla, 26-6o Centro
48011 Bilbao, Spain
<PAGE>
Cadagua's facilities consist of three mini-hydroelectric,
masonry weir facilities, all located near the Cadagua River in
Bilbao. The three mini-facilities, Maltrana, La Nava and
Ahedillo, are capable of producing 340 KW, 320 KW and 600 KW,
respectively.
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its wholly owned
subsidiary MEC International B.V., owns 34% of Iberian Hy-Power
Amsterdam B.V., which owns 72.8% of Cadagua.
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $425,485.
(d) Capitalization or total equity = $1,718,991
Net Income after taxes for 1993 = $6,283
(e) There are no contracts between Cadagua and any system company.
4.10 HIDROELECTRICA DE CASILLAS, S.A. (not operational)
(a) Hidroelectrica de Casillas, S.A. ("Casillas")
Av. Ramon y Cajal, 10-B
Sevilla, Spain
Casillas will not become operational until late 1995.
4.11 HIDROELECTRICA DE OLVERA, S.A.
(a) Hidroelectrica de Olvera, S.A. ("Olvera")
Ercilla, 26-6o Centro
48011 Bilbao, Spain
Olvera's facilities consist of a 2.2 MW mini-hydroelectric,
concrete dam facility located near the Guadalimar River, east
of Linares (Jaen).
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its wholly owned
subsidiary MEC International B.V., owns 34% of Iberian Hy-Power
Amsterdam B.V., which owns 51% of Olvera.
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $74,695.
(d) Capitalization or total equity = $332,866
Net Loss after taxes for 1993 = ($25,925)
(e) There are no contracts between Olvera and any system company.
4.12 HIDROELECTRICA DE POSADAS, S.A. (not operational)
(a) Hidroelectrica de Posadas, S.A. ("Posadas")
Urbanizacion Las Canteras II
Municipio de Camas
Sevilla, Spain
Posadas is not expected to become operational until late 1995.
<PAGE>
4.13 HIDROELECTRICA DEL SOSSIS, S.A.
(a) Hidroelectrica del Sossis, S.A. ("Sossis")
Ercilla, 26-6o Centro
48011 Bilbao, Spain
Sossis' facilities consist of a 3.7 MW concrete weir,
mini-hydroelectric facility located in Noguera Pallovesa, north
of Lerida, Catalonia.
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its wholly owned
subsidiary MEC International B.V., owns 34% of Iberian Hy-Power
Amsterdam B.V., which owns 99.92% of Sossis.
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $253,546.
(d) Capitalization or total equity = $746,322
Net Loss after taxes for 1993 = ($109,192)
(e) There are no contracts between Sossis and any system company.
4.14 IBERICA DE ENERGIAS, S.A.
(a) Iberica de Energias, S.A. ("Iberica")
Fortuny, 45
28010 Madrid, Spain
Iberica's facilities consist of the following seven
mini-hydroelectric facilities which are capable of producing
a total of 14.92 MW:
1. Quintana is a 1.48 MW facility located in Herrera de
Valdecana, Palencia
2. La Flecha is a 2.66 MW facility located in Arroyo
Encoradalanda, Valladolid
3. Toro is a 4.50 MW facility located in Toro, Zamora
4. Tudela is a 1.48 MW facility located in Tudela de duero,
Valladolid
5. Sardon Bajo is a 1.60 MW facility located in Vilabanez,
Valladolid
6. Bocos is a 1.60 MW facility located in Bocos de duero,
Valladolid
7. Monasterio is a 1.60 MW facility located in Quintanilla de
Arriba, Valladolid
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its wholly owned
subsidiary MEC International B.V. ("MECI"), owns 34% of Iberian
Hy-Power Amsterdam B.V., which owns 90% of Hydro Energy B.V.,
which in turns owns 100% of Iberica. MECI also owns directly
10% of Hydro Energy B.V.
<PAGE>
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $3,069,053. In August, 1993, MECI, through
MECI's 34% ownership interest in Hydro Energy B.V., has
acquired an aggregate 40.6% interest in Energias Hydraulicas,
S.A. ("EH") from Energies, S.A., the hydroelectric development
subsidiary of Compagne Generale des Eaux ("CGE"). CGE is a
French water utility company. EH is a Spanish holding company
which owns 13 small hydro facilities located in Spain.
In connection with the acquisition of EH, CGE provided to EH
a 10-year limited revenue guaranty, which allowed EH to secure
non-recourse project financing. Consideration to CGE for the
acquisition of EH included the assumption by Hydro Energy B.V.
of an existing loan with deferred payments to CGE beginning in
1999 and ending in 2003. Mission Energy Company has provided
a guaranty for any such deferred payments which are outstanding
as of September 30, 2003 (six months after the due date for all
such deferred payments). The guaranty by Mission Energy
Company provides for no rights of acceleration by CGE under any
circumstances. At December 31, 1993, the present value of the
deferred payments will amount to $14.9 million ($44.3 million
face value discounted at 11.5%).
(d) Capitalization or total equity = $9,026,629
Net Income after taxes for 1993 = $1,500,942
(e) There are no contracts between Iberica and any system company.
4.15 LAKELAND POWER LIMITED
(a) Lakeland Power Limited
Roosecote Power Station
Barrow-in-Furness
Cumbria, England LA13 OPR
Lakeland's facilities consist of a 224 MW gas fired combined
cycle electricity generation plant.
(b) SCEcorp owns 100% of The Mission Group; The Mission Group owns
100% of Mission Energy, which owns 100% of MEC International
B.V.; MEC International B.V., owns 2 shares (1%) of Pride
Hold Limited and 100 shares (100%) of Mission Energy Company
(UK) Limited; Mission Energy Company (UK) Limited owns 198
shares (99%) of Pride Hold Limited; Pride Hold Limited owns 800
shares (80%) of Lakeland Power Limited.
(c) MEC International B.V., acquired a total of 100% interest in
Pride Hold Limited in two phases. On December 29, 1992, a 75%
interest was acquired for US$42,799,400 (approx. US$20,048,844
was used for the direct acquisition of stock and the remaining
US$22,750,556 constituted loan stock which Mission Energy
Company (U.K.) Limited purchased). On March 15, 1993, the
remaining 25% interest was acquired for a Guaranteed Unsecured
Loan Note ("Guarantee"). The principal amount of the Guarantee
is US$8,916,852. Mission Energy Company has guaranteed MEC
International's obligations under the Guarantee. On December
31, 1993, Mission Energy Company (UK) Limited purchased 198
shares (99%) of Lakeland Power Limited from MEC International
B.V. for a note, the principal of which is US$30,264,150. For
U.S. tax purposes, this note will constitute an equity
investment in Mission Energy Company (UK) Limited.
<PAGE>
(d) Capitalization or total equity = US$5,312,011.
Net income after taxes for 1993 = US$5,175,000.
(e) There are no contracts between Lakeland and any system company.
4.16 DERWENT COGENERATION LIMITED (not operational)
(a) Derwent Cogeneration Limited
66 Buckingham Gate
London, SW1E 6AU England
The 211 MW plant at Spondon, Derbyshire, England is anticipated
to go into operation in 1995.
Mission Energy Services Limited is scheduled to be the operator
of this facility.
<PAGE>
<PAGE>
EXHIBIT A
A CONSOLIDATING STATEMENT OF INCOME AND SURPLUS OF THE CLAIMANT AND
ITS SUBSIDIARY COMPANIES FOR THE LAST CALENDAR YEAR, TOGETHER WITH A
CONSOLIDATING BALANCE SHEET OF CLAIMANT AND ITS SUBSIDIARY COMPANIES AS
OF THE CLOSE OF SUCH CALENDAR YEAR.
EXHIBIT B
FINANCIAL DATA SCHEDULE.
EXHIBIT C
AN ORGANIZATIONAL CHART SHOWING THE RELATIONSHIP OF EACH EWG OR
FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES IN THE HOLDING COMPANY
SYSTEM.
The above-named claimant has caused this statement to be duly
executed on its behalf by its authorized officer on this 25th day of
February, 1994.
SCEcorp
By Kenneth S. Stewart
-----------------------------
Kenneth S. Stewart
Assistant General Counsel
and Corporate Secretary
Corporate Seal
Attest:
Molly K. Byrd
- ----------------------------
Molly K. Byrd
Assistant Secretary
NAME, TITLE AND ADDRESS OF OFFICER TO WHOM NOTICES AND CORRESPONDENCE
CONCERNING THIS STATEMENT SHOULD BE ADDRESSED:
Kenneth S. Stewart Assistant General Counsel and Corporate Secretary
- ------------------------------------------------------------------------
(Name) (Title)
2244 Walnut Grove Avenue, Post Office Box 999, Rosemead, CA 91770
- ------------------------------------------------------------------------
(Address)
<PAGE>
<PAGE>
Schedule I
Southern California Edison Company
MAIN SYSTEM Electric Generating Properties
- -----------
EDISON OWNED
- ------------
<TABLE>
<CAPTION>
Generator Name
Location Unit Date of Plate Rating
Name of Plant County No. Operation kW
- ------------- -------- ---- --------- -----------
OIL & GAS:
- ----------
<S> <C> <C> <C> <C>
Alamitos Los Angeles 1 Sep. 11, 1956 163,200
2 Feb. 19, 1957 163,200
3 Dec. 4, 1961 333,000
4 Jun. 1, 1962 333,000
5 Mar. 5, 1966 495,000
6 Sep. 6, 1966 495,000
7CT Jul. 1, 1969 138,125
-----------
TOTAL PLANT 2,120,525
Cool Water San Bernardino 1 Jun. 15, 1961 65,280
2 May 1, 1964 81,600
3CC May 31, 1978 290,000
4CC Aug. 31, 1978 290,000
----------
TOTAL PLANT 726,880
Ellwood Santa Barbara 1CT Aug. 1, 1974 56,700
El Segundo Los Angeles 1 May 25, 1955 156,250
2 Aug. 27, 1956 156,250
3 Aug. 1, 1964 342,000
4 Apr. 1, 1965 342,000
----------
TOTAL PLANT 996,500
Etiwanda San Bernardino 1 Jul. 9, 1953 122,500
2 Nov. 23, 1953 122,500
3 May 1, 1963 333,000
4 Oct. 18, 1963 333,000
5CT Jan. 1, 1969 138,125
----------
TOTAL PLANT 1,049,125
Highgrove San Bernardino 1 Aug. 1, 1952 34,500
2 Jul. 1, 1952 34,500
3 Nov. 20, 1953 50,000
4 Oct. 23, 1955 50,000
----------
TOTAL PLANT 169,000
Huntington Beach Orange 1 Jun. 30, 1958 217,600
2 Dec. 5, 1958 217,600
3 May 22, 1961 217,600
4 Jul. 9, 1961 217,600
5CT Apr. 1, 1969 138,125
----------
TOTAL PLANT 1,008,525
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
Generator Name
Location Unit Date of Plate Rating
Name of Plant County No. Operation kW
- ------------- -------- ---- --------- -----------
OIL & GAS: (continued)
- ----------------------
<S> <C> <C> <C> <C>
Long Beach Los Angeles 8CC Dec. 31, 1976 334,500
9CC Apr. 30, 1977 252,000
----------
TOTAL PLANT 586,500
Mandalay Ventura 1 May 15, 1959 217,600
2 Aug. 27, 1959 217,600
3CT Apr. 1, 1970 138,125
----------
TOTAL PLANT 573,325
Ormond Beach Ventura 1 Dec. 14, 1971 806,400
2 Jun. 1, 1973 806,400
----------
TOTAL PLANT 1,612,800
Redondo Los Angeles 1 Mar. 1, 1948 66,000
2 Apr. 17, 1948 69,000
3 Aug. 31, 1949 66,000
4 Oct. 10, 1949 69,000
5 Oct. 11, 1954 156,250
6 Jul. 15, 1957 163,200
7 Feb. 1, 1967 495,000
8 Jul. 1, 1967 495,000
----------
TOTAL PLANT 1,579,450
San Bernardino San Bernardino 1 Jun. 15, 1957 65,280
2 Jul. 1, 1958 65,280
----------
TOTAL PLANT 130,560
==========
TOTAL OIL & GAS: 10,609,890
----------------
COAL:
----
Four Corners San Juan, NM 4 Jul. 1, 1969 818,100
Owned by Others - 52% (425,412)
----------
Owned by Edison - 48% 392,688
5 Jul. 1, 1970 818,100
Owned by Others - 52% (425,412)
----------
Owned by Edison - 48% 392,688
==========
TOTAL EDISON 785,376
Mohave Clark, NV 1 Apr. 1, 1971 818,100
Owned by Others - 44% (359,964)
----------
Owned by Edison - 56% 458,136
2 Oct. 1, 1971 818,100
Owned by Others - 44% (359,964)
----------
Owned by Edison - 56% 458,136
==========
TOTAL EDISON 916,272
==========
TOTAL COAL: 1,701,648
----------
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
Generator Name
Location Unit Date of Plate Rating
Name of Plant County No. Operation kW
- ------------- -------- ---- --------- -----------
NUCLEAR:
- --------
<S> <C> <C> <C> <C>
San Onofre San Diego 1 Jan. 1, 1968 0
Owned by Others - 20% 0
----------
Owned by Edison - 80% 0
2 Aug. 8, 1983 1,127,000
Owned by Others - 24.95% (281,185)
----------
Owned by Edison - 75.05% 845,815
3 Apr. 1, 1984 1,127,000
Owned by Others - 24.95% (281,185)
----------
Owned by Edison - 75.05% 845,815
==========
TOTAL EDISON 1,691,630
Palo Verde Maricopa, AZ 1 Feb. 1, 1986 1,403,100
Owned by Others - 84.2% (1,181,410)
----------
Owned by Edison - 15.8% 221,690
2 Sep. 19, 1986 1,403,100
Owned by Others - 84.2% (1,181,410)
----------
Owned by Edison - 15.8% 221,690
3 Jan. 20, 1988 1,403,100
Owned by Others - 84.2% (1,181,410)
----------
Owned by Edison - 15.8% 221,690
==========
TOTAL EDISON 665,070
==========
TOTAL NUCLEAR: 2,356,700
-------------
HYDRO:
- ------
NORTHERN REGION HYDROELECTRIC PLANTS:
- ------------------------------------
Big Creek #1 Fresno 1 Nov. 8, 1913 19,800
2 Nov. 8, 1913 15,750
3 Jul. 12, 1923 14,000
4 Jun. 8, 1925 28,000
----------
TOTAL PLANT 77,550
Big Creek #2 Fresno 3 Dec. 18, 1913 15,750
4 Jan. 11, 1914 15,750
5 Feb. 1, 1921 17,500
6 Mar. 31, 1925 17,500
----------
TOTAL PLANT 66,500
Big Creek #2A Fresno 1 Aug. 6, 1928 55,000
2 Dec. 21, 1928 55,000
----------
TOTAL PLANT 110,000
Big Creek #3 Fresno & Madera 1 Oct. 3, 1923 34,000
2 Sep. 30, 1923 34,000
3 Oct. 5, 1923 34,000
4 Apr. 28, 1948 39,000
5 Feb. 24, 1980 36,450
----------
TOTAL PLANT 177,450
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
Generator Name
Location Unit Date of Plate Rating
Name of Plant County No. Operation kW
- ------------- -------- ---- --------- -----------
NORTHERN REGION HYDROELECTRIC PLANTS: (continued)
- ------------------------------------
<S> <C> <C> <C> <C>
Big Creek #4 Fresno & Madera 1 Jun. 12, 1951 50,000
2 Jul. 2, 1951 42,000
----------
TOTAL PLANT 92,000
Big Creek #8 Fresno 1 Aug. 16, 1921 30,000
2 Jun. 8, 1929 45,000
----------
TOTAL PLANT 75,000
Kaweah #1 Tulare 1 May 25, 1929 2,250
Kaweah #2 Tulare 2 Sep. 13, 1929 1,800
Kaweah #3 Tulare 1 May 29, 1913 2,400
2 May 29, 1913 2,400
----------
TOTAL PLANT 4,800
Mammoth Pool Madera 1 Mar. 28, 1960 95,000
2 Mar. 28, 1960 95,000
----------
TOTAL PLANT 190,000
Portal Fresno 1 Dec. 22, 1956 10,000
John S. Eastwood Fresno 1 Dec. 1, 1987 199,800
Tule River Tulare 1 Sep. 14, 1909 1,260
2 Sep. 14, 1909 1,260
----------
TOTAL PLANT 2,520
==========
TOTAL NORTHERN REGION HYDRO PLANTS 1,009,670
----------------------------------
EASTERN REGION HYDROELECTRIC PLANTS:
- -----------------------------------
Fontana San Bernardino 1 Dec. 22, 1917 1,475
2 Dec. 22, 1917 1,475
----------
TOTAL PLANT 2,950
Kern River #1 Kern 1 May 19, 1907 6,570
2 Jun. 7, 1907 6,200
3 Jul. 29, 1907 6,200
4 Jun. 27, 1907 6,200
----------
TOTAL PLANT 25,170
Kern River #3 Kern 1 May 13, 1921 20,500
2 Mar. 22, 1921 19,675
----------
TOTAL PLANT 40,175
Kern River-Borel Kern 1 Dec. 31, 1904 3,000
2 Dec. 31, 1904 3,000
3 Jan. 23, 1932 6,000
----------
TOTAL PLANT 12,000
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
Generator Name
Location Unit Date of Plate Rating
Name of Plant County No. Operation kW
- ------------- -------- ---- --------- -----------
EASTERN REGION HYDROELECTRIC PLANTS: (continued)
- -----------------------------------
<S> <C> <C> <C> <C>
Lytle Creek San Bernardino 1 Oct. 23, 1904 200
2 Sep. 15, 1904 250
----------
TOTAL PLANT 450
Ontario #1 Los Angeles 1 Dec. , 1902 200
2 Dec. , 1902 200
3 Dec. , 1902 200
----------
TOTAL PLANT 600
Ontario #2 Los Angeles 1 Jun. 13, 1963 320
San Gorgonio #1 Riverside 1 Dec. 5, 1923 1,500
San Gorgonio #2 Riverside 1 Dec. 17, 1923 938
Santa Ana #1 San Bernardino 1 Feb. 14, 1899 800
2 Feb. 10, 1899 800
3 Jan. 9, 1899 800
4 Jan. 10, 1899 800
----------
TOTAL PLANT 3,200
Santa Ana #2 San Bernardino 1 Jun. 7, 1905 400
2 May 20, 1905 400
----------
TOTAL PLANT 800
Santa Ana #3 San Bernardino 1 Apr. 1, 1947 1,200
Sierra Los Angeles 1 Jan. 12, 1922 240
2 Feb. 16, 1922 240
----------
TOTAL PLANT 480
Mill Creek #1 San Bernardino 1 Sep. 7, 1893 800
Mill Creek #2 San Bernardino 1 Aug. 3, 1904 250
Mill Creek #3 San Bernardino 3 Mar. 20, 1903 1,000
4 Jan. 23, 1904 1,000
5 Mar. 3, 1904 1,000
----------
TOTAL PLANT 3,000
Bishop Creek #2 Inyo 1 Nov. , 1908 2,500
2 Nov. , 1908 2,500
3 Jun. , 1911 2,320
----------
TOTAL PLANT 7,320
Bishop Creek #3 Inyo 1 Jun. 12, 1913 2,750
2 Jun. 12, 1913 2,200
3 Jun. 12, 1913 2,200
----------
TOTAL PLANT 7,150
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
Generator Name
Location Unit Date of Plate Rating
Name of Plant County No. Operation kW
- ------------- -------- ---- --------- -----------
EASTERN REGION HYDRO PLANTS:(continued)
- ---------------------------------------
<S> <C> <C> <C> <C>
Bishop Creek #4 Inyo 1 Sep. 20, 1905 1,000
2 Sep. 20, 1905 1,000
3 1906 1,750
4 Oct. 1, 1907 1,750
5 1909 1,750
----------
TOTAL PLANT 7,250
Bishop Creek #5 Inyo 1 May 30, 1943 2,000
2 Jun. 1, 1919 1,500
----------
TOTAL PLANT 3,500
Bishop Creek #6 Inyo 1 Mar. 12, 1913 1,600
Lundy Mono 1 Dec. 9, 1911 1,500
2 Feb. 2, 1912 1,500
----------
TOTAL PLANT 3,000
Poole Mono 1 1924 11,250
Rush Creek Mono 1 Oct. 17, 1916 4,400
2 Dec. 11, 1917 4,000
----------
TOTAL PLANT 8,400
==========
TOTAL EASTERN REGION HYDROELECTRIC PLANTS 143,303
-----------------------------------------
TOTAL HYDROELECTRIC PLANTS 1,152,973
- -------------------------- ==========
OTHER:
- ------
SYN FUEL,IGCC - DEMO:
---------------------
Cool Water Coal San Bernardino 1 Jun. 24, 1984 100,000
BATTERY STORAGE:
----------------
Chino Battery Storage Chino 1 Jan. 3, 1991 10,000
----------
TOTAL OTHER: 110,000
- ------------
TOTAL EDISON OWNED RESOURCES (MAIN SYSTEM): 15,931,211
========================================== ==========
</TABLE>
<PAGE>
<PAGE>
ISOLATED SYSTEMS:
- -----------------
<TABLE>
<CAPTION>
Generator Name
Location Unit Date of Plate Rating
Name of Plant County No. Operation kW
- ------------- -------- ---- --------- -----------
<S> <C> <C> <C> <C>
Pebbly Beach (Diesel) Los Angeles 7 Jul. 3, 1958 1,000
(Catalina) 8 Jun. 26, 1963 1,500
10 Jul. 25, 1966 1,125
11 May 23, 1973 2,000
12 Jun. 18, 1976 1,550
14 Oct. 24, 1986 1,400
----------
8,575
Catalina Hydro Los Angeles 1 May 5, 1983 30
(Catalina) 2 Jul. 24, 1985 22
3 Jul. 24, 1985 57
----------
109
==========
TOTAL EDISON OWNED RESOURCES: 8,684
- -----------------------------
TOTAL ISOLATED SYSTEMS RESOURCES: 8,684
================================ ==========
</TABLE>
<PAGE>
<PAGE>
Attached hereto as Exhibit A are the following financial statements
dated as of December 31, 1993 or for the year then ended:
A.1. SCEcorp and Subsidiaries Consolidating Balance Sheet.
A.2. SCEcorp and Subsidiaries Consolidating Income Statement.
A.3. Southern California Edison Company and Subsidiaries Consolidating
Balance Sheet.
A.4. Southern California Edison Company and Subsidiaries Consolidating
Income Statement.
A.5. Southern California Edison Company and Subsidiaries Equity
Investments.
A.6. The Mission Group and Subsidiaries Consolidating Balance Sheet.
A.7. The Mission Group and Subsidiaries Consolidating Income Statement.
A.8. Mission Energy Company and Subsidiaries Consolidating Balance
Sheet.
A.9. Mission Energy Company and Subsidiaries Consolidating Income
Statement.
A.10. Mission Energy Company and Subsidiaries Equity Investments.
A.11. Mission Energy Company and Subsidiaries Real Estate Equity
Investments.
A.12. Hanover Energy Company Consolidated Balance Sheet
A.13. Hanover Energy Company Consolidated Income Statement
A.14. MEC International B.V. Consolidating Balance Sheet.
A.15. MEC International B.V. Consolidating Income Statement.
A.16. MEC International B.V. Equity Investments.
A.17. Loy Yang Holdings Pty. Ltd. Consolidating Balance Sheet.
A.18. Loy Yang Holdings Pty. Ltd. Consolidating Income Statement.
A.19. Mission Energy Company (UK) Ltd. Consolidating Balance Sheet.
A.20. Mission Energy Company (UK) Ltd. Consolidating Income Statement.
A.21. Mission Energy Holdings Pty. Ltd. Consolidating Balance Sheet.
A.22. Mission Energy Holdings Pty. Ltd. Consolidating Income Statement.
A.23. Pride Hold Ltd. Consolidating Balance Sheet.
A.24. Pride Hold Ltd. Consolidating Income Statement.
A.25. Mission Energy Fuel Company Consolidating Balance Sheet.
A.26. Mission Energy Fuel Company Consolidating Income Statement.
A.27. Mission First Financial and Subsidiaries Consolidating Balance
Sheet.
A.28. Mission First Financial and Subsidiaries Consolidating Income
Statement.
A.29. Mission First Financial and Subsidiaries Equity Investments in Real
Estate Limited Partnerships.
A.30. Mission First Financial and Subsidiaries Equity Investments in
Resource Recovery Project.
A.31. Mission Funding Company and Subsidiaries Consolidating Balance
Sheet.
A.32. Mission Funding Company and Subsidiaries Consolidating Income
Statement.
A.33. Mission Funding Epsilon and Subsidiaries Consolidating Balance
Sheet.
A.34. Mission Funding Epsilon and Subsidiaries Consolidating Income
Statement.
A.35. Mission Housing Investments Consolidating Balance Sheet.
A.36. Mission Housing Investments Consolidating Income Statement.
A.37. Mission Land Company and Subsidiaries Consolidating Balance Sheet.
A.38. Mission Land Company and Subsidiaries Consolidating Income
Statement.
A.39. Mission Land Company and Subsidiaries Equity Investments.
A.40. Associated Southern Investment Company and Subsidiary Consolidating
Balance Sheet.
A.41. Associated Southern Investment Company and Subsidiary Consolidating
Income Statement.
A.42. Mission Power Engineering Company and Subsidiaries Consolidating
Balance Sheet.
A.43. Mission Power Engineering Company and Subsidiaries Consolidating
Income Statement.
<PAGE>
<PAGE>
SCEcorp and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Southern
California The Mission
Edison Co. Group Consolidating SCEcorp
Consolidated Consolidated SCEcorp Adjustments Consolidated
============================================================================================================
ASSETS
============================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost $18,436,134 $18,436,134
Less-accumulated provision for depreciation
and decommissioning 7,138,289 7,138,289
----------------------------------------------------------------
11,297,845 11,297,845
Construction work in progress 857,225 857,225
Nuclear fuel, at amortized cost 148,012 148,012
----------------------------------------------------------------
Total utility plant 12,303,082 12,303,082
----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation 61,838 $1,214,633 1,276,471
Nuclear decommissioning trusts 788,575 788,575
Investments in partnerships
and unconsolidated subsidiaries 1,162,452 $5,927,922 ($5,927,922) 1,162,452
Investments in leveraged leases 497,469 497,469
Other investments 20,577 20,577
----------------------------------------------------------------
Total other property and investments 870,990 2,874,554 5,927,922 (5,927,922) 3,745,544
----------------------------------------------------------------
Cash and equivalents 204,919 209,587 6,004 420,510
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 831,070 58,495 143,427 (152,234) 880,758
Fuel inventory 120,859 120,859
Materials and supplies, at average cost 104,092 104,092
Accumulated deferred income taxes - net 204,119 204,119
Prepayments and other current assets 97,518 22,040 180 (1,980) 117,758
----------------------------------------------------------------
Total current assets 1,562,577 290,122 149,611 (154,214) 1,848,096
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense 381,781 381,781
Rate phase-in plan 364,209 364,209
Unamortized nuclear plant--net 273,837 273,837
Income tax-related deferred charges 2,016,194 2,016,194
Other deferred charges 318,949 126,725 125 445,799
----------------------------------------------------------------
Total deferred charges 3,354,970 126,725 125 3,481,820
----------------------------------------------------------------
TOTAL ASSETS $18,091,619 $3,291,401 $6,077,658 ($6,082,136) $21,378,542
================================================================
</TABLE>
<PAGE>
<PAGE>
SCEcorp and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Southern
California The Mission
Edison Co. Group Consolidating SCEcorp
Consolidated Consolidated SCEcorp Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $2,495,417 $626,079 $2,691,605 ($3,121,496) $2,691,605
Retained earnings 2,430,181 376,245 3,265,976 (2,806,426) 3,265,976
----------------------------------------------------------------
4,925,598 1,002,324 5,957,581 (5,927,922) 5,957,581
Preferred stock:
Not subject to mandatory redemption 358,755 358,755
Subject to mandatory redemption 275,000 275,000
Long-term debt 5,233,697 1,225,498 6,459,195
----------------------------------------------------------------
Total capitalization 10,793,050 2,227,822 5,957,581 (5,927,922) 13,050,531
----------------------------------------------------------------
Other long-term liabilities 266,595 266,595
----------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 151,200 197,696 348,896
Short-term debt 613,094 22,250 20,000 655,344
Accounts payable 336,464 38,500 4,627 (6,491) 373,100
Accrued taxes 394,740 22,788 (18,158) 11,242 410,612
Accrued interest 89,615 11,701 44 101,360
Dividends payable 162,818 158,965 (158,965) 162,818
Regulatory balancing accounts--net 57,932 57,932
Deferred unbilled revenue and other 653,233 86,593 1,500 741,326
----------------------------------------------------------------
Total current liabilities 2,459,096 379,528 166,978 (154,214) 2,851,388
----------------------------------------------------------------
Accumulated deferred income taxes - net 3,616,657 598,830 (46,768) 4,168,719
Accumulated deferred investment tax credits 421,338 34,236 455,574
Customer advances and other deferred credits 534,883 50,985 (133) 585,735
----------------------------------------------------------------
Total deferred credits 4,572,878 684,051 (46,901) 5,210,028
----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $18,091,619 $3,291,401 $6,077,658 ($6,082,136) $21,378,542
================================================================
</TABLE>
<PAGE>
<PAGE>
SCEcorp and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Southern
California The Mission
Edison Co. Group Consolidating SCEcorp
Consolidated Consolidated SCEcorp Adjustments Consolidated
=========================================================================================================
<S> <C> <C> <C> <C> <C>
Electric revenue $7,396,599 $7,396,599
Diversified operations $424,482 $18,626 ($18,630) 424,478
-----------------------------------------------------------------
Total operating revenue 7,396,599 424,482 18,626 (18,630) 7,821,077
-----------------------------------------------------------------
Fuel 792,056 41,740 833,796
Purchased power 2,498,349 511 2,498,860
Provisions for regulatory adjustment
clauses - net (286,894) (286,894)
Other operating expenses 1,263,046 323,383 2,665 (514) 1,588,580
Maintenance 360,423 2,455 362,878
Depreciation and decommissioning 892,502 29,592 922,094
Income taxes 505,899 (39,624) (1,492) 464,783
Property and other taxes 206,775 12,826 18,626 (18,627) 219,600
-----------------------------------------------------------------
Total operating expenses 6,232,156 370,372 19,799 (18,630) 6,603,697
-----------------------------------------------------------------
Operating income 1,164,443 54,110 (1,173) 0 1,217,380
-----------------------------------------------------------------
Provision for phase-in plan (137,300) (137,300)
Allowance for equity funds used during
construction 20,262 20,262
Other nonoperating income - net 63,703 23,217 150 87,070
-----------------------------------------------------------------
Total other income (deductions) - net (53,335) 23,217 150 0 (29,968)
-----------------------------------------------------------------
Income before interest and other expense 1,111,108 77,327 (1,023) 0 1,187,412
-----------------------------------------------------------------
Interest on long-term debt 399,137 128,950 528,087
Other interest expense 51,071 14,474 293 65,838
Allowance for borrowed funds used during
construction (16,167) (16,167)
Capitalized interest (978) (69,138) (70,116)
Dividend on subsidiary preferred stock 40,722 40,722
-----------------------------------------------------------------
Total interest and other expenses - net 473,785 74,286 293 0 548,364
-----------------------------------------------------------------
NET INCOME $637,323 $3,041 ($1,316) $0 $639,048
=================================================================
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
California
Electric Conservation Energy
Power Financing Services Mono Power
Company Corporation Inc. Company
===================================================================================================
ASSETS (Inactive) (Inactive) (Inactive)
===================================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
----------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
----------------------------------------------------
Total utility plant
----------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $8 $7,410
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 8 7,410
----------------------------------------------------
Cash and equivalents 1,088 156
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,147 (107)
Fuel inventory
Materials and supplies, at average cost 199
Accumulated deferred income taxes - net
Prepayments and other current assets 210
----------------------------------------------------
Total current assets 4,644 49
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-realted deferred charges
Other deferred charges
----------------------------------------------------
Total deferred charges 0
----------------------------------------------------
TOTAL ASSETS $4,652 $7,459
====================================================
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
California
Electric Conservation Energy
Power Financing Services Mono Power
Company Corporation Inc. Company
===================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive) (Inactive)
===================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $100 $2,749
Retained earnings 1,440 (2,694)
----------------------------------------------------
1,540 55
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------
Total capitalization 1,540 55
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 3,067
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 3,067
----------------------------------------------------
Accumulated deferred income taxes - net 45
Accumulated deferred investment tax credits
Customer advances and other deferred credits 7,404
----------------------------------------------------
Total deferred credits 45 7,404
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $4,652 $7,459
====================================================
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
SCE Southern Southern
Capital States California Consolidating
Company Realty Edison Co. Adjustments
=====================================================================================================
ASSETS
=====================================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost $18,436,134
Less-accumulated provision for depreciation
and decommissioning 7,138,289
------------------------------------------------------
11,297,845
Construction work in progress 857,225
Nuclear fuel, at amortized cost 148,012
------------------------------------------------------
Total utility plant 12,303,082
------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $3,038 51,382
Nuclear decommissioning trusts 788,575
Investments in partnerships
and unconsolidated subsidiaries 5,930 ($5,930)
Investments in leveraged leases 0
Other investments 20,577
------------------------------------------------------
Total other property and investments 3,038 866,464 (5,930)
------------------------------------------------------
Cash and equivalents $98 2,015 201,562
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 352,133 423 830,937 (355,463)
Fuel inventory 120,859
Materials and supplies, at average cost 103,893
Accumulated deferred income taxes - net 1 (16) 204,134
Prepayments and other current assets 1,291 96,017
------------------------------------------------------
Total current assets 352,232 3,713 1,557,402 (355,463)
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense 668 381,781 (668)
Rate phase-in plan 364,209
Unamortized nuclear plant--net 273,837
Income tax-realted deferred charges 2,016,194
Other deferred charges (7,825) 115 318,834 7,825
------------------------------------------------------
Total deferred charges (7,157) 115 3,354,855 7,157
------------------------------------------------------
TOTAL ASSETS $345,075 $6,866 $18,081,803 ($354,236)
======================================================
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
SCE Southern Southern
Capital States California Consolidating
Company Realty Edison Co. Adjustments
=====================================================================================================
CAPITALIZATION AND LIABILITIES
=====================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $120 $5,763 $2,495,417 ($8,732)
Retained earnings (2,160) 612 2,430,181 2,802
------------------------------------------------------
(2,040) 6,375 4,925,598 (5,930)
Preferred stock:
Not subject to mandatory redemption 358,755
Subject to mandatory redemption 275,000
Long-term debt 342,843 5,233,697 (342,843)
------------------------------------------------------
Total capitalization 340,803 6,375 10,793,050 (348,773)
------------------------------------------------------
Other long-term liabilities 266,595
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 151,200
Short-term debt 613,094
Accounts payable 468 338,392 (5,463)
Accrued taxes 394,740
Accrued interest 4,272 85,343
Dividends payable 162,818
Regulatory balancing accounts--net 57,932
Deferred unbilled revenue and other 653,233
------------------------------------------------------
Total current liabilities 4,272 468 2,456,752 (5,463)
------------------------------------------------------
Accumulated deferred income taxes - net 19 3,616,593
Accumulated deferred investment tax credits 421,338
Customer advances and other deferred credits 4 527,475
------------------------------------------------------
Total deferred credits 23 4,565,406
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $345,075 $6,866 $18,081,803 ($354,236)
======================================================
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Southern
California
Edison Co.
Consolidated
============================================================
ASSETS
============================================================
<S> <C>
Utility plant, at original cost $18,436,134
Less-accumulated provision for depreciation
and decommissioning 7,138,289
-------------
11,297,845
Construction work in progress 857,225
Nuclear fuel, at amortized cost 148,012
-------------
Total utility plant 12,303,082
-------------
Nonutility property - net of accumulated
provision for depreciation 61,838
Nuclear decommissioning trusts 788,575
Investments in partnerships
and unconsolidated subsidiaries 0
Investments in leveraged leases
Other investments 20,577
-------------
Total other property and investments 870,990
-------------
Cash and equivalents 204,919
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 831,070
Fuel inventory 120,859
Materials and supplies, at average cost 104,092
Accumulated deferred income taxes - net 204,119
Prepayments and other current assets 97,518
-------------
Total current assets 1,562,577
-------------
Unamortized debt issuance and reacquisition
expense 381,781
Rate phase-in plan 364,209
Unamortized nuclear plant--net 273,837
Income tax-realted deferred charges 2,016,194
Other deferred charges 318,949
-------------
Total deferred charges 3,354,970
-------------
TOTAL ASSETS $18,091,619
=============
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Southern
California
Edison Co.
Consolidated
============================================================
CAPITALIZATION AND LIABILITIES
============================================================
<S> <C>
Common shareholders' equity:
Common stock $2,495,417
Retained earnings 2,430,181
-------------
4,925,598
Preferred stock:
Not subject to mandatory redemption 358,755
Subject to mandatory redemption 275,000
Long-term debt 5,233,697
-------------
Total capitalization 10,793,050
-------------
Other long-term liabilities 266,595
-------------
Current portion of long-term
debt and redeemable preferred stock 151,200
Short-term debt 613,094
Accounts payable 336,464
Accrued taxes 394,740
Accrued interest 89,615
Dividends payable 162,818
Regulatory balancing accounts--net 57,932
Deferred unbilled revenue and other 653,233
-------------
Total current liabilities 2,459,096
-------------
Accumulated deferred income taxes - net 3,616,657
Accumulated deferred investment tax credits 421,338
Customer advances and other deferred credits 534,883
-------------
Total deferred credits 4,572,878
-------------
TOTAL CAPITALIZATION AND LIABILITIES $18,091,619
=============
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
California
Electric Conservation Energy SCE
Power Financing Services Mono Power Capital
Company Corporation Inc. Company Company
========================================================================================================
<S> <C> <C> <C> <C> <C>
(Inactive) (Inactive) (Inactive)
Electric revenue $7,755 $1,190
Diversified operations
---------------------------------------------------------
Total operating revenue 7,755 1,190
---------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 7,631 1,190 $18
Maintenance
Depreciation and decommissioning
Income taxes 166 (7)
Property and other taxes
---------------------------------------------------------
Total operating expenses 7,797 1,190 11
---------------------------------------------------------
Operating income (42) 0 (11)
---------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other - net 30 23,020
---------------------------------------------------------
Total other income (deductions) - net 30 23,020
---------------------------------------------------------
Income before interest and other expenses (12) 23,009
---------------------------------------------------------
Interest on long-term debt 23,020
Other interest expense 43
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred stock
---------------------------------------------------------
Total interest and other expenses - net 43 23,020
---------------------------------------------------------
NET INCOME ($55) $0 ($11)
=========================================================
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Southern
Southern Southern California
States California Consolidating Edison Co.
Realty Edison Co. Adjustments Consolidated
=================================================================================================
<S> <C> <C> <C> <C>
Electric revenue $4,552 $7,387,225 ($4,123) $7,396,599
Diversified operations
--------------------------------------------------
Total operating revenue 4,552 7,387,225 (4,123) 7,396,599
--------------------------------------------------
Fuel 792,008 48 792,056
Purchased power 2,498,349 2,498,349
Provisions for regulatory adjustment
clauses - net (286,894) (286,894)
Other operating expenses 5,437 1,252,941 (4,171) 1,263,046
Maintenance 360,423 360,423
Depreciation and decommissioning 272 892,230 892,502
Income taxes (695) 506,435 505,899
Property and other taxes 66 206,709 206,775
--------------------------------------------------
Total operating expenses 5,080 6,222,201 (4,123) 6,232,156
--------------------------------------------------
Operating income (528) 1,165,024 0 1,164,443
--------------------------------------------------
Provision for phase-in plan (137,300) (137,300)
Allowance for equity funds used during
construction 20,262 20,262
Other - net (293) 64,010 (23,064) 63,703
--------------------------------------------------
Total other income (deductions) - net (293) (53,028) (23,064) (53,335)
--------------------------------------------------
Income before interest and other expenses (821) 1,111,996 (23,064) 1,111,108
--------------------------------------------------
Interest on long-term debt 399,137 (23,020) 399,137
Other interest expense 51,072 (44) 51,071
Allowance for borrowed funds used during
construction (16,167) (16,167)
Capitalized interest (978) (978)
Dividends on subsidiary preferred stock 40,722 40,722
--------------------------------------------------
Total interest and other expenses - net 473,786 (23,064) 473,785
--------------------------------------------------
NET INCOME ($821) $638,210 $0 $637,323
==================================================
</TABLE>
<PAGE>
<PAGE>
Southern California Edison Company and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Mono Power
Company
========================================================
========================================================
<S> <C>
Name of Entity: Bear Creek
Uranium
Company
Ownership Interest:
Nature/Purpose of Business: (a)
Ownership Interest in (000):
Assets $0
Revenue 0
Net Income 0
</TABLE>
To develop and operate an integrated uranium mining complex in Wyoming.
<PAGE>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Mission Power First
Company Land Company Engineering Financial The Mission
Consolidated Consolidated Company Consolidated Group
==============================================================================================================
ASSETS
==============================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------------
Total utility plant
------------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $727,916 $452,153 $1,952 $32,609 $3
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 925,065 2,194 691,998
Investments in leveraged leases 43,561
Other investments 985,215
------------------------------------------------------------------
Total other property and investments 1,652,981 454,347 1,952 768,168 985,218
------------------------------------------------------------------
Cash and equivalents 51,245 15,950 135,766 6,626
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 30,952 7,388 838 62,951 5,937
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 17,947 3,695 398
------------------------------------------------------------------
Total current assets 100,144 27,033 838 199,115 12,563
------------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 87,644 34,871 3,423 4,362 4,630
------------------------------------------------------------------
Total deferred charges 87,644 34,871 3,423 4,362 4,630
------------------------------------------------------------------
TOTAL ASSETS $1,840,769 $516,251 $6,213 $971,645 $1,002,411
==================================================================
</TABLE>
<PAGE>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Mission Power First
Company Land Company Engineering Financial The Mission
Consolidated Consolidated Company Consolidated Group
==============================================================================================================
CAPITALIZATION AND LIABILITIES
==============================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $349,919 $162,408 $3,000 $78,909 $626,079
Retained earnings 203,165 58,741 (9,567) 140,218 374,435
------------------------------------------------------------------
553,084 221,149 (6,567) 219,127 1,000,514
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 975,837 40,204 4,595 210,881
------------------------------------------------------------------
Total capitalization 1,528,921 261,353 (1,972) 430,008 1,000,514
------------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 23,902 173,794
Short-term debt 7,250 55,000
Accounts payable 39,794 2,716 3,402 582 1,346
Accrued taxes 18,255 4,246 282 4
Accrued interest 5,662 4,784 1,255
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 283 811 84,952 547
------------------------------------------------------------------
Total current liabilities 95,146 241,351 3,684 86,789 1,897
------------------------------------------------------------------
Accumulated deferred income taxes - net 178,406 2,207 423,631
Accumulated deferred investment tax credits 34,236
Customer advances and other deferred credits 4,060 13,547 2,294 31,217
------------------------------------------------------------------
Total deferred credits 216,702 13,547 4,501 454,848
------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,840,769 $516,251 $6,213 $971,645 $1,002,411
==================================================================
</TABLE>
<PAGE>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
The Mission
Consolidating Group
Adjustments Consolidated
=======================================================================
ASSETS
=======================================================================
<S> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
---------------------------
Construction work in progress
Nuclear fuel, at amortized cost
---------------------------
Total utility plant
---------------------------
Nonutility property - net of accumulated
provision for depreciation $1,214,633
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($456,805) 1,162,452
Investments in leveraged leases 453,908 497,469
Other investments ($985,215) 0
---------------------------
Total other property and investments (988,112) 2,874,554
---------------------------
Cash and equivalents 209,587
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (49,571) 58,495
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 22,040
---------------------------
Total current assets (49,571) 290,122
---------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (8,205) 126,725
---------------------------
Total deferred charges (8,205) 126,725
---------------------------
TOTAL ASSETS ($1,045,888) $3,291,401
===========================
</TABLE>
<PAGE>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
The Mission
Consolidating Group
Adjustments Consolidated
=======================================================================
CAPITALIZATION AND LIABILITIES
=======================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock ($594,236) $626,079
Retained earnings (390,747) 376,245
---------------------------
(984,983) 1,002,324
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (6,019) 1,225,498
---------------------------
Total capitalization (991,002) 2,227,822
---------------------------
Other long-term liabilities
---------------------------
Current portion of long-term
debt and redeemable preferred stock 197,696
Short-term debt (40,000) 22,250
Accounts payable (9,339) 38,501
Accrued taxes 22,787
Accrued interest 11,701
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 86,593
---------------------------
Total current liabilities (49,339) 379,528
---------------------------
Accumulated deferred income taxes - net (5,414) 598,830
Accumulated deferred investment tax credits 34,236
Customer advances and other deferred credits (133) 50,985
---------------------------
Total deferred credits (5,547) 684,051
---------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($1,045,888) $3,291,401
===========================
</TABLE>
<PAGE>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy First Mission Power
Company Financial Land Company Engineering The Mission
Consolidated Consolidated Consolidated Company Group
========================================================================================================
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $272,774 $10,949 $140,633
---------------------------------------------------------------
Total operating revenue 272,774 10,949 140,633 0 0
---------------------------------------------------------------
Fuel 41,740
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 192,419 5,365 121,471 6,831 237
Maintenance 2,455
Depreciation and decommissioning 17,103 4,515 7,972 2
Income taxes (12,631) (24,678) (634) (2,802) (93)
Property and other taxes 12,815 21
---------------------------------------------------------------
Total operating expenses 238,631 (14,798) 144,079 4,050 146
---------------------------------------------------------------
Operating income 34,143 25,747 (3,446) (4,050) (146)
---------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 1,684 17,443 16,868 (10,936) 112
---------------------------------------------------------------
Total other income (deductions) - net 1,684 17,443 16,868 (10,936) 112
---------------------------------------------------------------
Income before interest and other expenses 35,827 43,190 13,422 (14,986) (34)
---------------------------------------------------------------
Interest on long-term debt 94,439 13,937 20,574
Other interest expense 8,220 47 8,109
Allowance for borrowed funds used during
construction
Capitalized interest (69,138)
Dividend on subsidiary preferred stock
---------------------------------------------------------------
Total interest and other expenses - net 33,521 13,984 28,683 0
---------------------------------------------------------------
NET INCOME $2,306 $29,206 ($15,261) ($14,986) ($34)
===============================================================
</TABLE>
<PAGE>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
The Mission
Consolidating Group
Adjustments Consolidated
===================================================================
<S> <C> <C>
Electric revenue
Diversified operations $126 $424,482
--------------------------
Total operating revenue 126 424,482
--------------------------
Fuel 41,740
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses (2,940) 323,383
Maintenance 2,455
Depreciation and decommissioning 29,592
Income taxes 1,214 (39,624)
Property and other taxes (10) 12,826
--------------------------
Total operating expenses (1,736) 370,372
--------------------------
Operating income 1,862 54,110
--------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net (1,954) 23,217
--------------------------
Total other income (deductions) - net (1,954) 23,217
--------------------------
Income before interest and other expenses (92) 77,327
--------------------------
Interest on long-term debt 128,950
Other interest expense (1,902) 14,474
Allowance for borrowed funds used during
construction
Capitalized interest (69,138)
Dividend on subsidiary preferred stock
--------------------------
Total interest and other expenses - net (1,902) 74,286
--------------------------
NET INCOME $1,810 $3,041
==========================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Bergen
Aguila Anacapa Anacostia Arrowhead Balboa Point
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
===========================================================================================================
ASSETS (Inactive)
===========================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
--------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
--------------------------------------------------------------
Total utility plant
--------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $19,845 $4,733 $0 $198 $0 $1,092
Investments in leveraged leases
Other investments
--------------------------------------------------------------
Total other property and investments 19,845 4,733 0 198 0 1,092
--------------------------------------------------------------
Cash and equivalents 2,954 0 0
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 5 4
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 6
--------------------------------------------------------------
Total current assets 2,959 6 0 4 0 0
--------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
--------------------------------------------------------------
Total deferred charges
--------------------------------------------------------------
TOTAL ASSETS $22,804 $4,739 $0 $202 $0 $1,092
==============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Blue Bretton
Ridge BN Woods Camino Capistrano Capitol
Energy Geothermal Energy Energy Cogeneration Energy
Company Inc. Company Company Company Company
=============================================================================================================
ASSETS (Inactive)
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
----------------------------------------------------------------
Total utility plant
----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $41,672 $0 $142,373 $27,109 $0
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments 0 41,672 0 142,373 27,109 0
----------------------------------------------------------------
Cash and equivalents 0 0 15,600 3
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0 1,626 4
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 0 43 16
----------------------------------------------------------------
Total current assets 0 0 0 17,269 23 0
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3,354
----------------------------------------------------------------
Total deferred charges 3,354 0
----------------------------------------------------------------
TOTAL ASSETS $0 $41,672 $0 $162,996 $27,132 $0
================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Centerport Chesapeake Chester Clayville Colonial Conejo
Energy Bay Energy Energy Energy Energy Energy
Company Company Company Company Company Company
============================================================================================================
ASSETS (Inactive)
============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
---------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
---------------------------------------------------------------
Total utility plant
---------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $2,433 $0 $0 $0 $35,471
Investments in leveraged leases
Other investments
---------------------------------------------------------------
Total other property and investments 0 2,433 0 0 0 35,471
---------------------------------------------------------------
Cash and equivalents 38 0 0
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 22
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 0 0
---------------------------------------------------------------
Total current assets 0 60 0 0 0 0
---------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
---------------------------------------------------------------
Total deferred charges 0
---------------------------------------------------------------
TOTAL ASSETS $0 $2,493 $0 $0 $0 $35,471
===============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Crescent Crystal Desert
Coronado Valley River Del Mar Sunrise Devereaux
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
======================================================================================================
ASSETS (Inactive)
======================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
---------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
---------------------------------------------------------
Total utility plant
---------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $11,777 $1,728 $4,737 $0 $8
Investments in leveraged leases
Other investments
---------------------------------------------------------
Total other property and investments 0 11,777 1,728 4,737 0 8
---------------------------------------------------------
Cash and equivalents 0 643 0 42 6 0
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0 1,461 (1) 0
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 4 4
---------------------------------------------------------
Total current assets 0 647 1,461 45 6 0
---------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 0
---------------------------------------------------------
Total deferred charges 0
---------------------------------------------------------
TOTAL ASSETS $0 $12,424 $3,189 $4,782 $6 $8
=========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Eastern Four
Sierra East Maine El Dorado Counties Hanover
Energy Energy Energy EMP Gas Energy
Company Company Company Inc. Company Company
==============================================================================================================
ASSETS (Inactive) (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-----------------------------------------------------------------
Total utility plant
-----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $10,231 $0 $72,095 $30,567 $0 $13,329
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 10,231 0 72,095 30,567 0 13,329
-----------------------------------------------------------------
Cash and equivalents 0 0 0 43 0 7
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 52 4,268 687 6
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 15
-----------------------------------------------------------------
Total current assets 52 0 4,268 745 0 13
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 60
-----------------------------------------------------------------
Total deferred charges 0 60
-----------------------------------------------------------------
TOTAL ASSETS $10,283 $0 $76,363 $31,312 $0 $13,402
=================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Kings
Holtsville Indian Bay Jefferson Canyon Kingspark Laguna
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
=============================================================================================================
ASSETS (Inactive) (Inactive)
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
----------------------------------------------------------------
Total utility plant
----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $0 $5,067 $0 $0 $0
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments 0 0 5,067 0 0 0
----------------------------------------------------------------
Cash and equivalents 1 0 0 0
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0 0 1 7
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 0
----------------------------------------------------------------
Total current assets 1 0 0 0 1 7
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1
----------------------------------------------------------------
Total deferred charges 0 0 1
----------------------------------------------------------------
TOTAL ASSETS $1 $0 $5,068 $0 $1 $7
================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Lehigh
La Jolla Lake Grove Lakeview River Longview
Energy Energy Energy Energy Cogeneration
Company Company Company Company Company
====================================================================================================
ASSETS (Inactive)(Inactive)
====================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------------------------------------------------
Total utility plant
-------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $0 $0 $657 $0
Investments in leveraged leases
Other investments
-------------------------------------------------------
Total other property and investments 0 0 0 657 0
-------------------------------------------------------
Cash and equivalents 0 0
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-------------------------------------------------------
Total current assets 0 0 0 0 0
-------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
-------------------------------------------------------
Total deferred charges
-------------------------------------------------------
TOTAL ASSETS $0 $0 $0 $657 $0
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
MEC Mission
Madera Madison International Mission Energy
Energy Energy B.V. Energy Canada
Company Comapny Consolidated Asia Corporation
=========================================================================================================
ASSETS
=========================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------
Total utility plant
------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $729,556
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $0 9,049 $0 $47,251
Investments in leveraged leases
Other investments 0
------------------------------------------------------------
Total other property and investments 0 0 738,605 0 47,251
------------------------------------------------------------
Cash and equivalents 20,951 17
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 16,366
------------------------------------------------------------
Total current assets 0 0 37,317 0 17
------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 70,929
------------------------------------------------------------
Total deferred charges 70,929
------------------------------------------------------------
TOTAL ASSETS $0 $0 $846,851 $0 $47,268
============================================================
</TABLE>
<PAGE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy Fuel Mission Mission Mission Mission
Company Energy Energy Energy Energy
Consolidated Indonesia Mexico New York, Inc. Westside, Inc.
=============================================================================================================
ASSETS (Inactive)
=============================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
----------------------------------------------------------------
Total utility plant
----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $200
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $139,304 $0 0 $31,036 $0
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments 139,304 0 200 31,036 0
----------------------------------------------------------------
Cash and equivalents 191 100 0
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 760 868
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 912 4
----------------------------------------------------------------
Total current assets 1,863 0 104 868 0
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,443 19 3,750
----------------------------------------------------------------
Total deferred charges 1,443 19 3,750 0
----------------------------------------------------------------
TOTAL ASSETS $142,610 $0 $323 $35,654 $0
================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Northern
Operation & Triple Cycle Niguel Sierra Ortega Otter Point
Maintenance Systems Energy Energy Energy Energy
Incorporated Company Company Company Company Company
==============================================================================================================
ASSETS (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-----------------------------------------------------------------
Total utility plant
-----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $202
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $36,884 $0 $0 $0
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 202 0 36,884 0 0 0
-----------------------------------------------------------------
Cash and equivalents 308
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 13,156
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 27 0
-----------------------------------------------------------------
Total current assets 13,491 0 0 0 0 0
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 34 0
-----------------------------------------------------------------
Total deferred charges 34 0
-----------------------------------------------------------------
TOTAL ASSETS $13,727 $0 $36,884 $0 $0 $0
=================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Pleasant Prince Quartz
Panther Patapsco Valley George Peak Rapidan
Timber Energy Energy Energy Energy Energy
Company Company Company Company Company Company
=========================================================================================================
ASSETS (Inactive)
=========================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------
Total utility plant
------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $0 ($17) $15,818 $12,186 $6,360
Investments in leveraged leases
Other investments
------------------------------------------------------------
Total other property and investments 0 0 (17) 15,818 12,186 6,360
------------------------------------------------------------
Cash and equivalents 4 3 0 0 68
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0 341 0 86
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1
------------------------------------------------------------
Total current assets 4 0 344 0 1 154
------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,000 1
------------------------------------------------------------
Total deferred charges 1,000 1
------------------------------------------------------------
TOTAL ASSETS $4 $0 $1,327 $15,818 $12,187 $6,515
============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Rio
Reeves Bay Ridgecrest Escondido Riverport San Felipe San Gabriel
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
==============================================================================================================
ASSETS (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-----------------------------------------------------------------
Total utility plant
-----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $0 $93,150 $0 $28,012 $0
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 0 0 93,150 0 28,012 0
-----------------------------------------------------------------
Cash and equivalents 33
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------------------
Total current assets 0 0 33 0 0 0
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
-----------------------------------------------------------------
Total deferred charges
-----------------------------------------------------------------
TOTAL ASSETS $0 $0 $93,183 $0 $28,012 $0
=================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
San Jacinto San Joaquin San Juan San Pedro Santa Ana
Energy Energy Energy Energy Energy
Company Company Company Company Company
====================================================================================================
ASSETS (Inactive)
====================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------------------------------------------------
Total utility plant
-------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $33,541 $8,129 $0 $0
Investments in leveraged leases
Other investments
-------------------------------------------------------
Total other property and investments 0 33,541 8,129 0 0
-------------------------------------------------------
Cash and equivalents 17 1
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 5 21
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 19 21
-------------------------------------------------------
Total current assets 0 41 43 0 0
-------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
-------------------------------------------------------
Total deferred charges
-------------------------------------------------------
TOTAL ASSETS $0 $33,582 $8,172 $0 $0
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Silver Southern
Santa Clara Silverado Springs Sonoma South Coast Sierra
Energy Energy Energy Geothermal Energy Energy
Company Company Company Company Company Company
==============================================================================================================
ASSETS
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-----------------------------------------------------------------
Total utility plant
-----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $0 $4,393 $0 $4,955 $7,039 $44,512
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 0 4,393 0 4,955 7,039 44,512
-----------------------------------------------------------------
Cash and equivalents 0 0 605 4
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0 296 9 73
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 6 4 29
-----------------------------------------------------------------
Total current assets 0 6 0 296 618 106
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
-----------------------------------------------------------------
Total deferred charges
-----------------------------------------------------------------
TOTAL ASSETS $0 $4,399 $0 $5,251 $7,657 $44,618
=================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Western Winters
Viejo Vista Sierra Run Mission
Energy Energy Energy Energy Energy Consolidating
Company Company Company Company Company Adjustments
==============================================================================================================
ASSETS (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-----------------------------------------------------------------
Total utility plant
-----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $4,390 ($6,432)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $4,466 $10,081 $44,107 $0 (80,143) ($170)
Investments in leveraged leases
Other investments 794,394 (794,394)
-----------------------------------------------------------------
Total other property and investments 4,466 10,081 44,107 0 718,641 (800,996)
-----------------------------------------------------------------
Cash and equivalents 0 0 3 9,603
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1 2,002 18 1,798 3,376
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 6 33 431
-----------------------------------------------------------------
Total current assets 7 2,002 54 0 11,832 3,376
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 7,053
-----------------------------------------------------------------
Total deferred charges 7,053
-----------------------------------------------------------------
TOTAL ASSETS $4,473 $12,083 $44,161 $0 $737,526 ($797,620)
=================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy
Company
Consolidated
==========================================================
ASSETS
==========================================================
<S> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------
Total utility plant
-------------
Nonutility property - net of accumulated
provision for depreciation $727,916
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 925,065
Investments in leveraged leases
Other investments
-------------
Total other property and investments 1,652,981
-------------
Cash and equivalents 51,245
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 30,952
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 17,947
-------------
Total current assets 100,144
-------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 87,644
-------------
Total deferred charges 87,644
-------------
TOTAL ASSETS $1,840,769
=============
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Bergen
Aguila Anacapa Anacostia Arrowhead Balboa Point
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
==============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $3,295 $0 $200 $0 $968
Retained earnings 18,571 102 0 2 (6) (537)
--------------------------------------------------------------
18,571 3,397 0 202 (6) 431
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------------------------------------------
Total capitalization 18,571 3,397 0 202 (6) 431
--------------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable (4,087) 1,163 (89) 2 449
Accrued taxes 0
Accrued interest 0
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------------
Total current liabilities (4,087) 1,163 0 (89) 2 449
--------------------------------------------------------------
Accumulated deferred income taxes - net 8,320 179 89 4 212
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------------------------------------------
Total deferred credits 8,320 179 0 89 4 212
--------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $22,804 $4,739 $0 $202 $0 $1,092
==============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Blue Bretton
Ridge BN Woods Camino Capistrano
Energy Geothermal Energy Energy Cogeneration
Company Inc. Company Company Company
=======================================================================================================
CAPITALIZATION AND LIABILITIES
=======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $36,501 $313 $22,900 $10,366
Retained earnings (6) (1,159) 70 28,171 2,358
-------------------------------------------------------
(6) 35,342 383 51,071 12,724
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 55,400
-------------------------------------------------------
Total capitalization (6) 35,342 383 106,471 12,724
-------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 11,200
Short-term debt
Accounts payable 2 4,610 (240) (41) (5,310)
Accrued taxes
Accrued interest 2,274
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------------------------------------------------
Total current liabilities 2 4,610 (240) 13,433 (5,310)
-------------------------------------------------------
Accumulated deferred income taxes - net 4 1,517 (143) 33,176 17,042
Accumulated deferred investment tax credits 203 9,916 2,676
Customer advances and other deferred credits
-------------------------------------------------------
Total deferred credits 4 1,720 (143) 43,092 19,718
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $41,672 $0 $162,996 $27,132
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Capitol Centerport Chesapeake Chester Clayville
Energy Energy Bay Energy Energy Energy
Company Company Company Company Company
=====================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
=====================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $241 $2,458 $114 $0
Retained earnings 0 52 9 (139) (3)
-----------------------------------------------------
0 293 2,467 (25) (3)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization 0 293 2,467 (25) (3)
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable (181) 26 25 3
Accrued taxes 0
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------------
Total current liabilities 0 (181) 26 25 3
-----------------------------------------------------
Accumulated deferred income taxes - net (112) 0 0
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-----------------------------------------------------
Total deferred credits 0 (112) 0 0 0
-----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $2,493 $0 $0
=====================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Crescent Crystal
Colonial Conejo Coronado Valley River Del Mar
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
===========================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
===========================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $16,092 $0 $0 $2,433 $2,432
Retained earnings (1) 3,300 (3) 1,668 65 870
-----------------------------------------------------------
(1) 19,392 (3) 1,668 2,498 3,302
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------------
Total capitalization (1) 19,392 (3) 1,668 2,498 3,302
-----------------------------------------------------------
Other long-term liabilities
-----------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 1 (7,436) 3 1,529 938 (1,832)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------------------
Total current liabilities 1 (7,436) 3 1,529 938 (1,832)
-----------------------------------------------------------
Accumulated deferred income taxes - net 19,349 5,427 (247) 3,312
Accumulated deferred investment tax credits 4,166 3,800
Customer advances and other deferred credits
-----------------------------------------------------------
Total deferred credits 0 23,515 0 9,227 (247) 3,312
-----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $35,471 $0 $12,424 $3,189 $4,782
===========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Desert Eastern
Sunrise Devereaux Sierra East Maine El Dorado
Energy Energy Energy Energy Energy EMP
Company Company Company Company Company Inc.
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $117 $0 $11,668 $0 $73,271 $9,280
Retained earnings (99) 2 (1,577) (4) 216 (2,647)
------------------------------------------------------------
18 2 10,091 (4) 73,487 6,633
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------------
Total capitalization 18 2 10,091 (4) 73,487 6,633
------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable (13) 6 454 4 4,800 (4,396)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------------
Total current liabilities (13) 6 454 4 4,800 (4,396)
------------------------------------------------------------
Accumulated deferred income taxes - net 1 (262) (1,924) 21,457
Accumulated deferred investment tax credits 0 6,096
Customer advances and other deferred credits 1,522
------------------------------------------------------------
Total deferred credits 1 0 (262) 0 (1,924) 29,075
------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $6 $8 $10,283 $0 $76,363 $31,312
============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Four
Counties Hanover Holtsville Indian Bay Jefferson
Gas Energy Energy Energy Energy
Company Company Company Company Company
=========================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
=========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $13,452 $1,272 $207 $5,691
Retained earnings (3) (462) (879) 43 162
---------------------------------------------------------
(3) 12,990 393 250 5,853
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
---------------------------------------------------------
Total capitalization (3) 12,990 393 250 5,853
---------------------------------------------------------
Other long-term liabilities
---------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt 0
Accounts payable 3 (1,215) 382 (153) (1,145)
Accrued taxes
Accrued interest 0
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
---------------------------------------------------------
Total current liabilities 3 (1,215) 382 (153) (1,145)
---------------------------------------------------------
Accumulated deferred income taxes - net 1,627 (774) (97) 360
Accumulated deferred investment tax credits
Customer advances and other deferred credits
---------------------------------------------------------
Total deferred credits 0 1,627 (774) (97) 360
---------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $13,402 $1 $0 $5,068
=========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Kings
Canyon Kingspark Laguna La Jolla Lake Grove
Energy Energy Energy Energy Energy
Company Company Company Company Company
=====================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)(Inactive) (Inactive)
=====================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $3,094 $11,535 $0 $696
Retained earnings (2) 271 629 (3) (507)
-----------------------------------------------------
(2) 3,365 12,164 (3) 189
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization (2) 3,365 12,164 (3) 189
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 2 (2,742) (12,275) 3 (189)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------------
Total current liabilities 2 (2,742) (12,275) 3 (189)
-----------------------------------------------------
Accumulated deferred income taxes - net (622) 118 0
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-----------------------------------------------------
Total deferred credits 0 (622) 118 0 0
-----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $1 $7 $0 $0
=====================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Lehigh
Lakeview River Longview Madera Madison
Energy Energy Cogeneration Energy Energy
Company Company Company Company Comapny
========================================================================================================
CAPITALIZATION AND LIABILITIES
========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $8,093 $0 $0 $0
Retained earnings (3) (5,479) (2) (6) 0
--------------------------------------------------------
(3) 2,614 (2) (6) 0
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------------------------------------
Total capitalization (3) 2,614 (2) (6) 0
--------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 3 (2,919) 2 2
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------
Total current liabilities 3 (2,919) 2 2 0
--------------------------------------------------------
Accumulated deferred income taxes - net 950 4
Accumulated deferred investment tax credits 12
Customer advances and other deferred credits
--------------------------------------------------------
Total deferred credits 0 962 0 4 0
--------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $657 $0 $0 $0
========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
MEC Mission Mission
International Mission Energy Energy Fuel Mission
B.V. Energy Canada Company Energy
Consolidated Asia Corporation Consolidated Indonesia
=============================================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $56,706 $0 $45,069 $138,420 $0
Retained earnings 572 (3) 1,039 (800) (3)
-------------------------------------------------------------
57,278 (3) 46,108 137,620 (3)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 726,746
-------------------------------------------------------------
Total capitalization 784,024 (3) 46,108 137,620 (3)
-------------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 0
Short-term debt 0
Accounts payable 58,288 3 (1,114) 10,125 3
Accrued taxes 1,436 898 0
Accrued interest 0
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------------------------------------------------------
Total current liabilities 59,724 3 (216) 10,125 3
-------------------------------------------------------------
Accumulated deferred income taxes - net 1,903 1,376 (5,452)
Accumulated deferred investment tax credits 0 0
Customer advances and other deferred credits 1,200 0 317
-------------------------------------------------------------
Total deferred credits 3,103 0 1,376 (5,135) 0
-------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $846,851 $0 $47,268 $142,610 $0
=============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Mission Operation &
Energy Energy Energy Maintenance
Mexico New York, Inc. Westside, Inc.Incorporated
======================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
======================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $200 $28,005 $0 $250
Retained earnings (841) (518) 0 5,493
------------------------------------------------------
(641) 27,487 0 5,743
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (641) 27,487 0 5,743
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt 7,250
Accounts payable 957 (260) 7,946
Accrued taxes
Accrued interest 1,240
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 957 8,230 0 7,946
------------------------------------------------------
Accumulated deferred income taxes - net 7 (63) 38
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 7 (63) 0 38
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $323 $35,654 $0 $13,727
======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Northern
Triple Cycle Niguel Sierra Ortega Otter Point Panther
Systems Energy Energy Energy Energy Timber
Company Company Company Company Company Company
==============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $334 $13,730 $0 $0 $0 $966
Retained earnings 156 6,741 134 (4) 0 393
--------------------------------------------------------------
490 20,471 134 (4) 0 1,359
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------------------------------------------
Total capitalization 490 20,471 134 (4) 0 1,359
--------------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable (389) (9,558) (134) 4 (935)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------------
Total current liabilities (389) (9,558) (134) 4 0 (935)
--------------------------------------------------------------
Accumulated deferred income taxes - net (101) 21,459 0 0 0 (420)
Accumulated deferred investment tax credits 0 4,512
Customer advances and other deferred credits 0
--------------------------------------------------------------
Total deferred credits (101) 25,971 0 0 0 (420)
--------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $36,884 $0 $0 $0 $4
==============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Pleasant Prince Quartz
Patapsco Valley George Peak Rapidan Reeves Bay
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
==============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $119 $14,094 $9,278 $6,152 $788
Retained earnings 0 (169) (73) 1,082 7 (669)
--------------------------------------------------------------
0 (50) 14,021 10,360 6,159 119
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 400
--------------------------------------------------------------
Total capitalization 0 350 14,021 10,360 6,159 119
--------------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt 0
Accounts payable 61 (440) 749 1,919 (119)
Accrued taxes
Accrued interest 88 0
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------------
Total current liabilities 0 149 (440) 749 1,919 (119)
--------------------------------------------------------------
Accumulated deferred income taxes - net 0 828 2,237 1,078 (1,563) 0
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------------------------------------------
Total deferred credits 0 828 2,237 1,078 (1,563) 0
--------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $1,327 $15,818 $12,187 $6,515 $0
==============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Rio
Ridgecrest Escondido Riverport San Felipe San Gabriel
Energy Energy Energy Energy Energy
Company Company Company Company Company
======================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $123,675 $333 $18,282 $0
Retained earnings (6) (16,852) 79 2,845 (3)
------------------------------------------------------
(6) 106,823 412 21,127 (3)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (6) 106,823 412 21,127 (3)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 2 (19,141) (258) (15,904) 3
Accrued taxes 6,376
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2 (12,765) (258) (15,904) 3
------------------------------------------------------
Accumulated deferred income taxes - net 4 (875) (154) 17,914
Accumulated deferred investment tax credits 4,875
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 4 (875) (154) 22,789 0
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $93,183 $0 $28,012 $0
======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
San Jacinto San Joaquin San Juan San Pedro Santa Ana
Energy Energy Energy Energy Energy
Company Company Company Company Company
======================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $3,000 $4,942 $0 $0
Retained earnings (3) 7,811 (1,976) (6) (6)
------------------------------------------------------
(3) 10,811 2,966 (6) (6)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 0
------------------------------------------------------
Total capitalization (3) 10,811 2,966 (6) (6)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 3 3,113 4,858 2 2
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 3 3,113 4,858 2 2
------------------------------------------------------
Accumulated deferred income taxes - net 16,115 348 4 4
Accumulated deferred investment tax credits 3,543
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 0 19,658 348 4 4
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $33,582 $8,172 $0 $0
======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Silver
Santa Clara Silverado Springs Sonoma South Coast
Energy Energy Energy Geothermal Energy
Company Company Company Company Company
========================================================================================================
CAPITALIZATION AND LIABILITIES
========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $0 $2,911 $0 $3,657 $2,070
Retained earnings (4) 205 (2) (213) (1,205)
--------------------------------------------------------
(4) 3,116 (2) 3,444 865
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 0
--------------------------------------------------------
Total capitalization (4) 3,116 (2) 3,444 865
--------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 4 1,343 2 729 2,064
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------
Total current liabilities 4 1,343 2 729 2,064
--------------------------------------------------------
Accumulated deferred income taxes - net (60) 38 3,882
Accumulated deferred investment tax credits 20 846
Customer advances and other deferred credits 1,020
--------------------------------------------------------
Total deferred credits 0 (60) 0 1,078 4,728
--------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $4,399 $0 $5,251 $7,657
========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Southern Western
Sierra Viejo Vista Sierra Winters Run
Energy Energy Energy Energy Energy
Company Company Company Company Company
====================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
====================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $5,456 $3,255 $9,512 $13,090 $0
Retained earnings 8,342 (11) 451 (3,343) 0
----------------------------------------------------
13,798 3,244 9,963 9,747 0
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 1,425 0
----------------------------------------------------
Total capitalization 15,223 3,244 9,963 9,747 0
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 9,691 1,057 2,307 11,353
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 9,691 1,057 2,307 11,353 0
----------------------------------------------------
Accumulated deferred income taxes - net 14,615 172 (187) 17,926
Accumulated deferred investment tax credits 5,089 5,135
Customer advances and other deferred credits
----------------------------------------------------
Total deferred credits 19,704 172 (187) 23,061 0
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $44,618 $4,473 $12,083 $44,161 $0
====================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Energy
Energy Consolidating Company
Company Adjustments Consolidated
====================================================================================
CAPITALIZATION AND LIABILITIES
====================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $355,434 ($746,498) $349,919
Retained earnings 199,490 (47,999) 203,165
------------------------------------
554,924 (794,497) 553,084
Preferred stock: 0
Not subject to mandatory redemption 0
Subject to mandatory redemption 0
Long-term debt 198,298 (6,432) 975,837
------------------------------------
Total capitalization 753,222 (800,929) 1,528,921
------------------------------------
Other long-term liabilities 0
------------------------------------
Current portion of long-term
debt and redeemable preferred stock 0 12,702 23,902
Short-term debt 0 7,250
Accounts payable 10,635 (9,326) 39,794
Accrued taxes 9,545 0 18,255
Accrued interest 2,060 5,662
Dividends payable 0
Regulatory balancing accounts--net 0
Deferred unbilled revenue and other 283 283
------------------------------------
Total current liabilities 22,523 3,376 95,146
------------------------------------
Accumulated deferred income taxes - net (35,705) 14,071 178,406
Accumulated deferred investment tax credits (2,514) (14,139) 34,236
Customer advances and other deferred credits 1 4,060
------------------------------------
Total deferred credits (38,219) (67) 216,702
------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $737,526 ($797,620) $1,840,769
====================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Bergen Blue
Aguila Anacapa Anacostia Arrowhead Balboa Point Ridge
Energy Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company Company
======================================================================================================
(inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $0 $875 $0 $0 $0 $80 $0
-------------------------------------------------------------
Total operating revenue 0 875 0 0 0 80 0
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 633 0 625
Maintenance
Depreciation and decommissioning 100 86 0 14
Income taxes (138) 54 1 (3) 3 (244) 3
Property and other taxes
-------------------------------------------------------------
Total operating expenses (38) 773 1 (3) 3 395 3
-------------------------------------------------------------
Operating income 38 102 (1) 3 (3) (315) (3)
-------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 56 0 1
-------------------------------------------------------------
Total other income (deductions) - net 56 0 0 1 0 0 0
-------------------------------------------------------------
Income before interest and other expenses 94 102 (1) 4 (3) (315) (3)
-------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------------------------------------
Total interest and other expenses - net 0 0 0 0 0 0 0
-------------------------------------------------------------
NET INCOME $94 $102 ($1) $4 ($3) ($315) ($3)
=============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Bretton
BN Woods Camino Capistrano Capitol Centerport
Geothermal Energy Energy Cogeneration Energy Energy
Inc. Company Company Company Company Company
========================================================================================================
(inactive)
<S> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $6,326 $0 $31,386 $2,851 $0 $0
---------------------------------------------------------------
Total operating revenue 6,326 0 31,386 2,851 0 0
---------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 845 702 645
Maintenance
Depreciation and decommissioning 23 688 8
Income taxes 786 (80) 9,934 1,123 0 (61)
Property and other taxes
---------------------------------------------------------------
Total operating expenses 1,654 (80) 11,324 1,776 0 (61)
---------------------------------------------------------------
Operating income 4,672 80 20,062 1,075 0 61
---------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 13 0 943 1
---------------------------------------------------------------
Total other income (deductions) - net 13 0 943 1 0 0
---------------------------------------------------------------
Income before interest and other expenses 4,685 80 21,005 1,076 0 61
---------------------------------------------------------------
Interest on long-term debt 7,383
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
---------------------------------------------------------------
Total interest and other expenses - net 0 0 7,383 0 0 0
---------------------------------------------------------------
NET INCOME $4,685 $80 $13,622 $1,076 $0 $61
===============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Crescent
Chesapeake Chester Clayville Colonial Conejo Coronado Valley
Bay Energy Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company Company
===========================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $0 $0 $0 $0 $3,923 $0 $2,783
------------------------------------------------------------------
Total operating revenue 0 0 0 0 3,923 0 2,783
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 0 625 625
Maintenance
Depreciation and decommissioning 17
Income taxes 0 2 1 1,815 328
Property and other taxes
------------------------------------------------------------------
Total operating expenses 0 2 1 0 2,457 0 953
------------------------------------------------------------------
Operating income 0 (2) (1) 0 1,466 0 1,830
------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 16 0 13
------------------------------------------------------------------
Total other income (deductions) - net 16 0 0 0 0 0 13
------------------------------------------------------------------
Income before interest and other expenses 16 (2) (1) 0 1,466 0 1,843
------------------------------------------------------------------
Interest on long-term debt
Other interest expense 5
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
------------------------------------------------------------------
Total interest and other expenses - net 5 0 0 0 0 0 0
------------------------------------------------------------------
NET INCOME $11 ($2) ($1) $0 $1,466 $0 $1,843
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Crystal Desert Eastern
River Del Mar Sunrise Devereaux Sierra East Maine El Dorado
Energy Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company Company
===========================================================================================================
(Inactive) (Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $0 $743 $0 $8 $1,322 $0 $8
------------------------------------------------------------------
Total operating revenue 0 743 0 8 1,322 0 8
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 634 628 6
Maintenance
Depreciation and decommissioning 14 253
Income taxes 1 28 1 4 132 1 (177)
Property and other taxes
------------------------------------------------------------------
Total operating expenses 1 676 1 4 1,013 1 (171)
------------------------------------------------------------------
Operating income (1) 67 (1) 4 309 (1) 179
------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 31 11 7 25
------------------------------------------------------------------
Total other income (deductions) - net 31 11 0 0 7 0 25
------------------------------------------------------------------
Income before interest and other expenses 30 78 (1) 4 316 (1) 204
------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
------------------------------------------------------------------
Total interest and other expenses - net 0 0 0 0 0 0 0
------------------------------------------------------------------
NET INCOME $30 $78 ($1) $4 $316 ($1) $204
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Hanover
Four Energy Kings
Counties Company Holtsville Indian Bay Jefferson Canyon
EMP Gas Consol- Energy Energy Energy Energy
Inc. Company idated Company Company Company Company
==============================================================================================================
(Inactive) (Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $2,961 $0 $1,248 $0 $0 $307 $0
---------------------------------------------------------------------
Total operating revenue 2,961 0 1,248 0 0 307 0
---------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625 628
Maintenance
Depreciation and decommissioning 39 200
Income taxes 1,543 0 379 (18) (52) 99 0
Property and other taxes
---------------------------------------------------------------------
Total operating expenses 2,207 0 1,207 (18) (52) 99 0
---------------------------------------------------------------------
Operating income 754 0 41 18 52 208 0
---------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 0 186 1
---------------------------------------------------------------------
Total other income (deductions) - net 0 0 186 0 0 1 0
---------------------------------------------------------------------
Income before interest and other expenses 754 0 227 18 52 209 0
---------------------------------------------------------------------
Interest on long-term debt 62
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
---------------------------------------------------------------------
Total interest and other expenses - net 0 0 0 0 0 62 0
---------------------------------------------------------------------
NET INCOME $754 $0 $227 $18 $52 $147 $0
=====================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Lehigh
Kingspark Laguna La Jolla Lake Grove Lakeview River
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
=======================================================================================================
(Inactive) (Inactive) (Inactive)
<S> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $0 $0 $0 $0 $0 ($713)
--------------------------------------------------------------
Total operating revenue 0 0 0 0 0 (713)
--------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 177 625
Maintenance
Depreciation and decommissioning 229
Income taxes (156) (297) 0 65 0 (511)
Property and other taxes
--------------------------------------------------------------
Total operating expenses (156) (120) 0 65 0 343
--------------------------------------------------------------
Operating income 156 120 0 (65) 0 (1,056)
--------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net (683)
--------------------------------------------------------------
Total other income (deductions) - net 0 (683) 0 0 0 0
--------------------------------------------------------------
Income before interest and other expenses 156 (563) 0 (65) 0 (1,056)
--------------------------------------------------------------
Interest on long-term debt 30
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
--------------------------------------------------------------
Total interest and other expenses - net 0 30 0 0 0 0
--------------------------------------------------------------
NET INCOME $156 ($593) $0 ($65) $0 ($1,056)
==============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
MEC Mission
Longview Madera Madison International Mission Energy
Cogeneration Energy Energy B.V. Energy Canada
Company Company Company Consolidated Asia Corporation
============================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $0 $0 $0 $102,603 $0 $4,307
-------------------------------------------------------------------
Total operating revenue 0 0 0 102,603 0 4,307
-------------------------------------------------------------------
Fuel 41,740
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 0 23,780 5
Maintenance 0
Depreciation and decommissioning 12,517 0
Income taxes 1 3 197 0 2,313
Property and other taxes
-------------------------------------------------------------------
Total operating expenses 1 3 0 78,234 0 2,318
-------------------------------------------------------------------
Operating income (1) (3) 0 24,369 0 1,989
-------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 0 2,182 110
-------------------------------------------------------------------
Total other income (deductions) - net 0 0 0 2,182 0 110
-------------------------------------------------------------------
Income before interest and other expenses (1) (3) 0 26,551 0 2,099
-------------------------------------------------------------------
Interest on long-term debt 68,291 0 0
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (42,856)
Dividend on subsidiary preferred stock
-------------------------------------------------------------------
Total interest and other expenses - net 0 0 0 25,435 0 0
-------------------------------------------------------------------
NET INCOME ($1) ($3) $0 $1,116 $0 $2,099
===================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Mission
Energy Fuel Mission Mission Mission Mission
Company Energy Energy Energy Energy
Consolidated Indonesia Mexico New York, Inc. Westside, Inc.
======================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $13,432 $0 $0 $5 $0
-------------------------------------------------------------
Total operating revenue 13,432 0 0 5 0
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 2,291 502 1
Maintenance
Depreciation and decommissioning 680 108
Income taxes 277 2 0 (458)
Property and other taxes
-------------------------------------------------------------
Total operating expenses 3,248 2 610 (457) 0
-------------------------------------------------------------
Operating income 10,184 (2) (610) 462 0
-------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 544 (4) 176
-------------------------------------------------------------
Total other income (deductions) - net 544 0 (4) 176 0
-------------------------------------------------------------
Income before interest and other expenses 10,728 (2) (614) 638 0
-------------------------------------------------------------
Interest on long-term debt 847 1,137
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------------------------------------
Total interest and other expenses - net 847 0 0 1,137 0
-------------------------------------------------------------
NET INCOME $9,881 ($2) ($614) ($499) $0
=============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Mission Mission Northern Otter
Operation & Triple Cycle Niguel Sierra Ortega Point Panther
Maintenance Systems Energy Energy Energy Energy Timber
Inc. Company Company Company Company Company Company
==============================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $24,074 $0 $3,720 $0 $0 $0 $0
---------------------------------------------------------------------
Total operating revenue 24,074 0 3,720 0 0 0 0
---------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 22,675 0 625 0
Maintenance
Depreciation and decommissioning 36 10
Income taxes 684 (159) 1,341 2 0 0 (396)
Property and other taxes
---------------------------------------------------------------------
Total operating expenses 23,395 (159) 1,976 2 0 0 (396)
---------------------------------------------------------------------
Operating income 679 159 1,744 (2) 0 0 396
---------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 120 2
---------------------------------------------------------------------
Total other income (deductions) - net 120 0 0 0 0 0 2
---------------------------------------------------------------------
Income before interest and other expenses 799 159 1,744 (2) 0 0 398
---------------------------------------------------------------------
Interest on long-term debt 0
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
---------------------------------------------------------------------
Total interest and other expenses - net 0 0 0 0 0 0 0
---------------------------------------------------------------------
NET INCOME $799 $159 $1,744 ($2) $0 $0 $398
=====================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Pleasant Prince Quartz
Patapsco Valley George Peak Rapidan Reeves Bay Ridgecrest
Energy Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company Company
===========================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $0 ($3,451) $3,245 $2,522 $375 $0 $0
------------------------------------------------------------------
Total operating revenue 0 (3,451) 3,245 2,522 375 0 0
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 650 625 690 5 0
Maintenance
Depreciation and decommissioning 9 614 61 0
Income taxes 0 (1,673) 722 (105) 109 119 3
Property and other taxes
------------------------------------------------------------------
Total operating expenses 0 (1,014) 1,961 646 114 119 3
------------------------------------------------------------------
Operating income 0 (2,437) 1,284 1,876 261 (119) (3)
------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 55 3 15 (186)
------------------------------------------------------------------
Total other income (deductions) - net 0 55 3 15 (186) 0 0
------------------------------------------------------------------
Income before interest and other expenses 0 (2,382) 1,287 1,891 75 (119) (3)
------------------------------------------------------------------
Interest on long-term debt 42 62
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
------------------------------------------------------------------
Total interest and other expenses - net 0 42 0 0 62 0 0
------------------------------------------------------------------
NET INCOME $0 ($2,424) $1,287 $1,891 $13 ($119) ($3)
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Rio
Escondido Riverport San Felipe San Gabriel San Jacinto San Joaquin
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
============================================================================================================
(Inactive) (Inactive)
<S> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $2,616 $0 $3,306 $0 $0 $15,323
-------------------------------------------------------------------
Total operating revenue 2,616 0 3,306 0 0 15,323
-------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 27,977 541 661
Maintenance
Depreciation and decommissioning 20 27
Income taxes (8,624) (90) 1,496 0 6,752
Property and other taxes
-------------------------------------------------------------------
Total operating expenses 19,353 (90) 2,057 0 0 7,440
-------------------------------------------------------------------
Operating income (16,737) 90 1,249 0 0 7,883
-------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 95 (23)
-------------------------------------------------------------------
Total other income (deductions) - net 95 0 0 0 0 (23)
-------------------------------------------------------------------
Income before interest and other expenses (16,642) 90 1,249 0 0 7,860
-------------------------------------------------------------------
Interest on long-term debt
Other interest expense 12
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------------------------------------------
Total interest and other expenses - net 12 0 0 0 0 0
-------------------------------------------------------------------
NET INCOME ($16,654) $90 $1,249 $0 $0 $7,860
===================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Silver
San Juan San Pedro Santa Ana Santa Clara Silverado Springs Sonoma
Energy Energy Energy Energy Energy Energy Geothermal
Company Company Company Company Company Company Company
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $10,350 $0 $0 $0 $771 $0 $30
---------------------------------------------------------------------
Total operating revenue 10,350 0 0 0 771 0 30
---------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 669 0 633 0 625
Maintenance
Depreciation and decommissioning 139 67 0
Income taxes 4,016 3 3 1 12 0 (628)
Property and other taxes
---------------------------------------------------------------------
Total operating expenses 4,824 3 3 1 712 0 (3)
---------------------------------------------------------------------
Operating income 5,526 (3) (3) (1) 59 0 33
---------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 86 (1) 169
---------------------------------------------------------------------
Total other income (deductions) - net 86 0 0 0 (1) 0 169
---------------------------------------------------------------------
Income before interest and other expenses 5,612 (3) (3) (1) 58 0 202
---------------------------------------------------------------------
Interest on long-term debt 0
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest 0
Dividend on subsidiary preferred stock
---------------------------------------------------------------------
Total interest and other expenses - net 0 0 0 0 0 0 0
---------------------------------------------------------------------
NET INCOME $5,612 ($3) ($3) ($1) $58 $0 $202
=====================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Southern Western Winters
South Coast Sierra Viejo Vista Sierra Run Mission
Energy Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company Company
=============================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $3,997 $22,399 $559 $36 $24,060 $0 ($15,703)
--------------------------------------------------------------------
Total operating revenue 3,997 22,399 559 36 24,060 0 (15,703)
--------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 1,231 662 633 0 713 93,709
Maintenance
Depreciation and decommissioning 4 58 83 0 37 962
Income taxes 1,278 6,161 (69) 27 9,799 0 (50,878)
Property and other taxes
--------------------------------------------------------------------
Total operating expenses 2,513 6,881 647 27 10,549 0 43,793
--------------------------------------------------------------------
Operating income 1,484 15,518 (88) 9 13,511 0 (59,496)
--------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 6 38 0 158 87 (1,771)
--------------------------------------------------------------------
Total other income (deductions) - net 6 38 0 158 87 0 (1,771)
--------------------------------------------------------------------
Income before interest and other expenses 1,490 15,556 (88) 167 13,598 0 (61,267)
--------------------------------------------------------------------
Interest on long-term debt 3 19,500
Other interest expense 8,203
Allowance for borrowed funds used during
construction
Capitalized interest (26,282)
Dividend on subsidiary preferred stock
--------------------------------------------------------------------
Total interest and other expenses - net 3 0 0 0 0 0 1,421
--------------------------------------------------------------------
NET INCOME $1,487 $15,556 ($88) $167 $13,598 $0 ($62,688)
====================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(in thousands)
<TABLE>
<CAPTION>
Mission
Energy
Consolidating Company
Adjustments Consolidated
===================================================================
<S> <C> <C>
Electric revenue 0
Diversified operations $90 272,774
--------------------------
Total operating revenue 90 272,774
--------------------------
Fuel 41,740
Purchased power 0
Provisions for regulatory adjustment
clauses - net 0
Other operating expenses 4,493 192,419
Maintenance 0
Depreciation and decommissioning 17,103
Income taxes 562 (12,631)
Property and other taxes 0
--------------------------
Total operating expenses 5,055 238,631
--------------------------
Operating income (4,965) 34,143
--------------------------
Provision for phase-in plan 0
Allowance for equity funds used during
construction 0
Other nonoperating income - net (798) 1,684
--------------------------
Total other income (deductions) - net (798) 1,684
--------------------------
Income before interest and other expenses (5,763) 35,827
--------------------------
Interest on long-term debt (2,918) 94,439
Other interest expense 8,220
Allowance for borrowed funds used during 0
construction 0
Capitalized interest (69,138)
Dividend on subsidiary preferred stock 0
--------------------------
Total interest and other expenses - net (2,918) 33,521
--------------------------
NET INCOME ($2,845) $2,306
==========================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Bergen
Aguila Anacapa Arrowhead Balboa Point
Energy Energy Energy Energy Energy
Company Company Company Company Company
===============================================================
Name of Entity: American Salinas Rive Crown Smithtown TEVCO/
Bituminous Cogeneration Energy, Cogeneration, Mission
Power Company L.P. L.P. Bayonne
Partners, Partnership
L.P.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 49.5% 50% 57% 50% 50%
Nature/Purpose of Business: (a) (b) (c) (d) (e)
Ownership Interest in (000):
Assets $96,468 $23,094 $0 $2,178 $841
Revenue $8,217 $8,545 $0 $0 $79
Net Income (Loss) ($2,824) $947 $0 $0 $72
</TABLE>
(a) To own an 80 MW cogeneration facility located in Grant Town,
West Virginia.
(b) To own and operate the 38 MW cogeneration facility located in
Monterey County, California.
(c) To own and operate a 180 MW cogeneration facility to be located
in New Jersey.
(d) To own and operate power production facilities.
(e) To own a limited partnership interest in the Cogen Technologies
NJ Venture.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Bretton
Blue Ridge BN Woods Camino Capistrano
Energy Geothermal, Energy Energy Cogeneration
Company Inc. Company Company Company
=====================================================================
Name of Entity: Bretton Woods Vulcan/BN Bretton Woods Watson James River
Cogeneration, Geothermal Cogeneration, Cogeneration Cogeneration
L.P. Power L.P. Company Company
Company
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 49% 50%
Nature/Purpose of Business: (f) (g) (h) (i) (j)
Ownership Interest in (000):
Assets $322 $36,489 $321 $142,621 $47,555
Revenue $0 $17,080 $0 $100,752 $25,872
Net Income (Loss) $0 $6,876 $0 $30,770 $3,384
</TABLE>
(f) To own and operate power production facilities.
(g) To own and operate the 34 MW geothermal facility located near Niland
in Imperial County, California.
(h) To own and operate power production facilities.
(i) To own and operate the 385 MW cogeneration facility at ARCO's Los
Angeles Refinery in Carson, California.
(j) To own and operate the 110 MW cogeneration facility located in
Hopewell, Chester County, Virginia.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Chesapeake Crescent
Centerport Bay Clayville Conejo Coronado Valley
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
====================================================================
Name of Entity: Riverhead Delaware Oconee Andy Hoch Oconee Beowawe
Cogeneratio Clean Energy, (Del Ranch), Energy, Geothermal
I, L.P. Energy L.P. L.P. L.P. Power
Project Company
<S> <C> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 50% 50% 50%
Nature/Purpose of Business: (k) (l) (m) (n) (o) (p)
Ownership Interest in (000):
Assets $215 $0 $0 $48,546 $0 $13,383
Revenue $0 $0 $0 $20,530 $0 $6,144
Net Income (Loss) $0 $0 $0 $3,769 $0 $2,781
</TABLE>
(k) To own and operate power production facilities.
(i) To own a 232 MW power production facility located in Delaware.
(m) To own and operate power production facilities.
(n) To own and operate the 38 MW geothermal facility located near Niland
in Imperial County, California.
(o) To own and operate power production facilities.
(p) To own and operate the 15 MW geothermal facility at the Beowawe Known
Geothermal Resource Area of Eureka and Lander County, Nevada.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Crystal Eastern
River Del Mar Devereaux Sierra El Dorado
Energy Energy Energy Energy Energy
Company Company Company Company Company
================================================================
Name of Entity: Glenwood Mid-Set Auburndale Saguaro Auburndale
Springs Cogeneration Power Power Power
Salt Company Partners, L.P.Company, Partners, L.P
Company, L.P.
L.P.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 90% 50% 50% 50% 50%
Nature/Purpose of Business: (q) (r) (s) (t) (u)
Ownership Interest in (000):
Assets $4,227 $13,918 $43,357 $58,374 $43,357
Revenue $12 $8,216 $10 $15,555 $10
Net Income (Loss) ($68) $828 $10 $1,168 $10
</TABLE>
(q) To own and operate a 25 MW cogeneration facility located in
Glenwwood Springs, Colorado.
(r) To own and operate the 38 MW cogeneration facility located in
Kern County, California.
(s) To own and operate a 150 MW power production facility located in
Florida.
(t) To own and operate the 90 MW cogeneration facility located in
Henderson, Nevada.
(u) To own and operate a 150 MW power production facility located
in Florida.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
(1)
GEO
East Mesa Chickahominy Holtsville Indian Bay
EMP, Limited River Energy Energy Energy
Inc. Partnership Company Company Company
===================================================================
Name of Entity: GEO East Mesa GEO Commonwealth Brookhaven Riverhead
Limited East Mesa Atlantic Cogeneration, Cogeneration
Partnership Electric Limited L.P. III, L.P.
(1) Company Partnership
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 100% 50% 50% 50%
Nature/Purpose of Business: (v) (w) (x) (y) (z)
Ownership Interest in (000):
Assets $91,835 $8,970 $72,189 $1,020 $191
Revenue $21,918 $4,116 $12,111 $0 $0
Net Income (Loss) $2,396 $131 $958 $0 $0
</TABLE>
(v) To own and operate geothermal facilities (53 MW) located near
Holtville in Imperial Valley, California.
(w) To own and operate a 13 MW geothermal facility located near
Holtville in Imperial Valley, California.
(x) To own a 340 MW power production facility located in Chesapeake,
Virginia.
(y) To own and operate power production facilities.
(z) To own and operate power production facilities.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
(2)
Lehigh TEVCO/
Jefferson Kingspark Lakewiew River Mission
Energy Energy Energy Energy Assets
Company Company Company Company Partnership
=================================================================
Name of Entity: Gordonsville Smithtown Georgia TEVCO/ Continental
Energy, Cogeneration, Peakers, Mission Energy
L.P. L.P. L.P. Assets Associates
Partnership L.P.
(2)
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 50% 22.5%
Nature/Purpose of Business: (aa) (ab) (ac) (ad) (ae)
Ownership Interest in (000):
Assets $89,771 $2,178 $0 $10 $23,037
Revenue $102 $0 $0 $0 $11,545
Net Income (Loss) $102 $0 $0 ($5) ($1,427)
</TABLE>
(aa) To own and operate a 240 MW cogeneration facility located in
Gordonsville, Virginia.
(ab) To own and operate power production facilities.
(ac) To own and operate power production facilities.
(ad) To own limited partnership interests in power production
facilities located in Maine and Pennsylvania.
(ae) To own a 131 MW cogeneration facility located in Hazleton,
Pennsylvania.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Madera Madison
Energy Energy
Company Company
=========================
Name of Entity: Brookhaven Gordonsville
Cogeneration, Energy,
L.P. L.P.
<S> <C> <C>
Ownership Interest: 50% 49%
Nature/Purpose of Business: (af) (ag)
Ownership Interest in (000):
Assets $1,020 $87,975
Revenue $0 $100
Net Income (Loss) $0 $100
</TABLE>
(af) To own and operate power production facilities.
(ag) To own and operate a 240 MW cogeneration facility located in
Gordonsville, Virginia.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission
Mission Energy Energy Mission Triple Cycl
Energy Methane Oil & Gas Energy Systems
Canada Company Company New York, Inc Company
===================================================================
Name of Entity: Mission Coalbed Four Star Brooklyn Triple Cycl
Interface Methane Oil & Gas Navy Yard Partnership
Partnership J.V. Company Cogeneration
Partners, L.P.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 11% - 45% 27.4% 50% 50%
Nature/Purpose of Business: (al) (an) (ao) (ap) (aq)
Ownership Interest in (000):
Assets $0 $45,881 $116,340 $19,211 $0
Revenue $0 $1,004 $54,170 $6 $0
Net Income (Loss) $0 ($47) $14,248 $6 $0
</TABLE>
(al) To own and operate power production facilities.
(an) To own various percentage of working interests in various fields
and wells as a joint venture.
(ao) To own 23.4% interest in the common stock of a domestic oil and gas
exploration and production company.
(ap) To own and operate the 286 MW power production facility located
near the Brooklyn Bridge in Brooklyn, New York.
(aq) To own 25% interest in a partnership that has rights to a
proprietary technology.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Northern Pleasant Prince Hopewell
Niguel Sierra Panther Valley George Cogeneration
Energy Energy Timber Energy Energy Limited
Company Company Company Company Company Partnership
===========================================================================
Name of Entity: Elmore, Sobel American American Hopewell Hopewell
L.P. Cogeneration Kiln Bituminous Cogeneration Cogeneration
Company Partners, Power Limited Inc.
L.P. Partners, Partnership (4)
L.P.
<S> <C> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 2% .5% 24.75% .25%
Nature/Purpose of Business: (ar) (as) (at) (au) (av) (aw)
Ownership Interest in (000):
Assets $52,229 $0 $0 $974 $46,046 $5
Revenue $20,862 $0 $0 $83 $13,523 $1
Net Income (Loss) $3,784 $0 $0 ($29) $3,224 $0
</TABLE>
(ar) To own and operate the 38 MW geothermal facility located near Niland
in Imperial Valley, California.
(as) Currently is inactive.
(at) Currently inactive.
(au) To own and operate the 80 MW cogeneration facility located in Grant
Town, West Virginia.
(av) To own and operate a 356 MW cogeneration facility located in Chester
County, Virginia.
(aw) To own and operate a 356 MW cogeneration facility located in Chester
County, Virginia.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
(4) Quartz
Hopewell Peak Rapidan Reeves Bay Ridgecrest Rio Escondid
Cogeneration, Energy Energy Energy Energy Energy
Inc. Company Company Company Company Company
=========================================================================
Name of Entity: Hopewell Nevada GordonsvilleNorth Shore Riverhead Energia
,Cogeneration Sun-Peak Energy, Energy, L.P.Cogeneration del Norte,
Limited L.P. L.P. I, L.P. S.A. de C.V.
Partnership (5)
<S> <C> <C> <C> <C> <C> <C>
Ownership Interest: 1% 50% 1% 50% 50% 49%
Nature/Purpose of Business: (ax) (ay) (az) (ba) (bb) (bc)
Ownership Interest in (000):
Assets $1,860 $37,650 $1,795 $0 $215 $101,919
Revenue $546 $7,619 $2 $0 $0 $69,124
Net Income (Loss) $130 $2,376 $2 $0 $0 $5,454
</TABLE>
(ax) To own and operate a 356 MW cogeneration facility located in Chester
County, Virginia.
(ay) To own 50% of the 210 MW independent power production plant located
near Las Vegas, Nevada.
(az) To own and operate a 240 MW cogeneration facility located in
Gordonsville, Virginia.
(ba) To own and operate power production facilities.
(bb) To own and operate power production facilities.
(bc) To own and operate power production facilities located in Mexico.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
(5)
o Energia Riverport San Felipe San Joaquin San Juan
del Norte, Energy Energy Energy Energy
S.A. de C.V. Company Company Company Company
==================================================================
Name of Entity: Minera Riverhead Leathers, Midway-Sunset March Point
Cabonifera Cogeneration L.P. Cogeneration Cogeneration
Rio Escondido II, L.P. Company Company
S.A. de C.V. L.P.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 100% 50% 50% 50% 50%
Nature/Purpose of Business: (bd) (be) (bf) (bg) (bh)
Ownership Interest in (000):
Assets $207,997 $277 $57,044 $74,782 $75,683
Revenue $141,070 $0 $19,984 $55,069 $32,099
Net Income (Loss) $11,129 $0 $3,516 $14,689 $9,327
</TABLE>
(bd) To own and operate power production facilities located in
Mexico.
(be) To own and operate power production facilities.
(bf) To own and operate the 38 MW geothermal facility located near
Niland in Imperial Valley, California.
(bg) To own and operate the 225 MW cogeneration facility located
near Taft in Kern County, California.
(bh) To own and operate the 140 MW cogeneration facility located
in Anacortes, Washington.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Silver
San Pedro Santa Ana Santa Clara Silverado Springs Sonoma
Energy Energy Energy Energy Energy Geothermal
Company Company Company Company Company Company
==========================================================================
Name of Entity: Riverhead Riverhead North Shore Coalinga Georgia Geothermal
Cogeneration Cogeneration Energy, L.P.Cogeneration Peakers, Energy
II, L.P. III, L.P. Company L.P. Partners,
Ltd.
<S> <C> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 50% 50% 5%
Nature/Purpose of Business: (bi) (bj) (bk) (bl) (bm) (bn)
Ownership Interest in (000):
Assets $277 $191 $0 $21,343 $0 $3,749
Revenue $0 $0 $0 $8,694 $0 $923
Net Income (Loss) $0 $0 $0 $836 $0 $53
</TABLE>
(bi) To own and operate power production facilities.
(bj) To own and operate power production facilities.
(bk) To own and operate power production facilities.
(bl) To own and operate the 38 MW cogeneration facility located in
Fresno County, California.
(bm) To own and operate power production facilities.
(bn) To own and operate the 20 MW geothermal facility located in
Cloverdale, California.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Southern Southern Western
South Coast Sierra Sierra Viejo Vista Sierra
Energy Energy Gas Energy Energy Energy
Company Company Company Company Company Company
======================================================================
Name of Entity: Harbor Kern River T M Star Sargent Vista Sycamore
Cogeneration Cogeneration Fuel Canyon Energy, L.PCogeneration
Company Company Company Cogeneration Company
Company
<S> <C> <C> <C> <C> <C> <C>
Ownership Interest: 30% 50% 50% 50% 57% 50%
Nature/Purpose of Business: (bo) (bp) (bq) (br) (bs) (bt)
Ownership Interest in (000):
Assets $15,365 $78,013 $2,185 $22,196 $6,992 $98,645
Revenue $14,468 $73,004 $9,121 $7,893 $24 $77,236
Net Income (Loss) $3,971 $21,791 $761 $782 $24 $24,078
</TABLE>
(bo) To own and operate the 80 MW cogeneration facility at the
Wilmington Oil Field located in Los Angeles, California.
(bp) To own and operate the 300 MW Kern River ("Omar Hill") cogeneration
facility at Texaco's Kern River Oil Field located near Bakersfield,
California.
(bq) To own an 50% interest in a domestic oil and gas exploration and
production company.
(br) To own and operate the 38 MW cogeneration facility located in
Monterey County, California.
(bs) To own and operate power production facilities.
(bt) To own and operate the 300 MW cogeneration facility located at
Texaco's Kern River Oil Field near Bakersfield, California.
<PAGE>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Mission
Energy
Company
========
Name of Entity: N/A
<S> <C>
Ownership Interest: N/A
Nature/Purpose of Business: (bu)
Ownership Interest in (000):
Assets $4,749
Revenue N/A
Net Income (Loss) N/A
</TABLE>
(bu) Represents goodwill resulting from the acquisition of an entity
having a partnership interest as its sole asset. The goodwill is
being amortized over a twenty-seven year period.
N/A Not Applicable
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Real Estate Equity Investments
December 31, 1993
(In Thousands)
<TABLE>
<CAPTION>
(1)
Mission
Southern Housing V,
Sierra a California
Energy Limited
Company Partnership
================================
Name of Entity: Mission Centennial
Housing V, Place,
a California a California
Limited Limited
Partnership Partnership
(1)
<S> <C> <C>
Ownership Interest: 99% 99%
Nature/Purpose of Business: (a) (b)
Ownership Interest in (000):
Assets $113,449 $114,596
Revenue $4,866 $4,916
Net Income (Loss) ($3,740) ($3,778)
</TABLE>
(a) To own a limited partnership interest in Centennial Place,
a California Limited Partnership.
(b) To own the Centennial low-income housing complex in Pasadena, California.
<PAGE>
<PAGE>
Hanover Energy Company
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Hanover
Chicahominy Hanover Energy
River Energy Consolidating Company
Egy. Corp. Company Adjustments Consolidated
===========================================================================================
ASSETS
===========================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-----------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-----------------------------------------------
Total utility plant
-----------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $1,915 $11,925 ($511) $13,329
Investments in leveraged leases
Other investments
-----------------------------------------------
Total other property and investments 1,915 11,925 (511) 13,329
-----------------------------------------------
Cash and equivalents $1,000 (993) 7
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 2,409 (2,403) 6
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------
Total current assets 1,000 1,416 (2,403) 13
-----------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 60 60
-----------------------------------------------
Total deferred charges 60 60
-----------------------------------------------
TOTAL ASSETS $2,915 $13,401 ($2,914) $13,402
===============================================
</TABLE>
<PAGE>
<PAGE>
Hanover Energy Company
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Hanover
Chicahominy Hanover Energy
River Energy Consolidating Company
Egy. Corp. Company Adjustments Consolidated
===========================================================================================
CAPITALIZATION AND LIABILITIES
===========================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $13,452 $13,452
Retained earnings $512 (463) ($511) (462)
-----------------------------------------------
512 12,989 (511) 12,990
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------
Total capitalization 512 12,989 (511) 12,990
-----------------------------------------------
Other long-term liabilities
-----------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 2,403 (1,215) (2,403) (1,215)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------
Total current liabilities 2,403 (1,215) (2,403) (1,215)
-----------------------------------------------
Accumulated deferred income taxes - net 1,627 1,627
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-----------------------------------------------
Total deferred credits 1,627 1,627
-----------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $2,915 $13,401 ($2,914) $13,402
===============================================
</TABLE>
<PAGE>
<PAGE>
Hanover Energy Company
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Hanover
Chicahominy Hanover Energy
River Energy Consolidating Company
Egy. Corp. Company Adjustments Consolidated
==============================================================================================
<S> <C> <C> <C> <C>
Electric revenue
Diversified operations $690 $558 $1,248
-------------------------------------------------
Total operating revenue 690 558 1,248
-------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 202 628 (202) 628
Maintenance
Depreciation and decommissioning 200 200
Income taxes 379 379
Property and other taxes
-------------------------------------------------
Total operating expenses 202 1,207 (202) 1,207
-------------------------------------------------
Operating income 488 (649) 202 41
-------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 186 186
-------------------------------------------------
Total other income (deductions) - net 186 186
-------------------------------------------------
Income before interest and other expenses 488 (463) 202 227
-------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------
NET INCOME $488 ($463) $202 $227
=================================================
</TABLE>
<PAGE>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy Loy Yang Latrobe
Holdings Company Pride Holdings Power Traralgon
Pty. Ltd. (UK) Ltd. Hold Ltd. Pty. Ltd. Pty. Ltd. Pty. Ltd.
========================================================================================================
ASSETS
========================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------
Total utility plant
------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $359 $30,061 $164,144 $537,175
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (449)
Investments in leveraged leases
Other investments
------------------------------------------------------------
Total other property and investments 359 29,612 164,144 537,175 0 0
------------------------------------------------------------
Cash and equivalents 217 4,007 15,597 979
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 380 3,004 9,588 5,475
------------------------------------------------------------
Total current assets 597 7,011 25,185 6,454 0 0
------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 207 22,949 20,608 48,114
------------------------------------------------------------
Total deferred charges 207 22,949 20,608 48,114 0 0
------------------------------------------------------------
TOTAL ASSETS $1,163 $59,572 $209,937 $591,743 $0 $0
============================================================
</TABLE>
<PAGE>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy Loy Yang Latrobe
Holdings Company Pride Holdings Power Traralgon
Pty. Ltd. (UK) Ltd. Hold Ltd. Pty. Ltd. Pty. Ltd. Pty. Ltd.
========================================================================================================
CAPITALIZATION AND LIABILITIES
========================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock ($509) $26,798 $4,369 ($1,240)
Retained earnings
------------------------------------------------------------
(509) 26,798 4,369 (1,240) 0 0
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 147 30,851 173,485 564,877
------------------------------------------------------------
Total capitalization (362) 57,649 177,854 563,637 0 0
------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 1,615 1,214 26,742 28,710
Accrued taxes 24 1,412
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------------
Total current liabilities 1,615 1,238 28,154 28,710 0 0
------------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits (252) 685 2,891 (604)
Customer advances and other deferred credits 162 1,038
------------------------------------------------------------
Total deferred credits (90) 685 3,929 (604) 0 0
------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,163 $59,572 $209,937 $591,743 $0 $0
============================================================
</TABLE>
<PAGE>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC Mission International
International Energy Consolidating B.V.
B.V. Asia Adjustments Consolidated
=============================================================================================
ASSETS
=============================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
-------------------------------------------------
Total utility plant
-------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation ($2,429) $246 $729,556
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 33,296 (23,798) 9,049
Investments in leveraged leases
Other investments 0
-------------------------------------------------
Total other property and investments 30,867 246 (23,798) 738,605
-------------------------------------------------
Cash and equivalents 108 43 20,951
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 0
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2 (2,083) 16,366
-------------------------------------------------
Total current assets 110 43 (2,083) 37,317
-------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 32,825 4 (53,778) 70,929
-------------------------------------------------
Total deferred charges 32,825 4 (53,778) 70,929
-------------------------------------------------
TOTAL ASSETS $63,802 $293 ($79,659) $846,851
=================================================
</TABLE>
<PAGE>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC Mission International
International Energy Consolidating B.V.
B.V. Asia Adjustments Consolidated
=============================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $53,718 ($119) ($26,311) $56,706
Retained earnings 572 572
-------------------------------------------------
54,290 (119) (26,311) 57,278
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 8,661 (51,275) 726,746
-------------------------------------------------
Total capitalization 62,951 (119) (77,586) 784,024
-------------------------------------------------
Other long-term liabilities 0
-------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 1,607 473 (2,073) 58,288
Accrued taxes 1,436
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------------------------------------------
Total current liabilities 1,607 473 (2,073) 59,724
-------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits (756) (61) 1,903
Customer advances and other deferred credits 1,200
-------------------------------------------------
Total deferred credits (756) (61) 0 3,103
-------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $63,802 $293 ($79,659) $846,851
=================================================
</TABLE>
<PAGE>
<PAGE>
MEC International B.V.
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy Loy Yang Latrobe
Holdings Company Pride Holdings Power Traralgon
Pty. Ltd. (UK) Ltd. Hold Ltd. Pty. Ltd. Pty. Ltd. Pty. Ltd.
========================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Electric revenue $85,106 $18,478
Diversified operations ($6)
---------------------------------------------------------------
Total operating revenue (6) 85,106 18,478 0 0
---------------------------------------------------------------
Fuel 38,308 3,432
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $980 3,537 16,222 2,945
Maintenance
Depreciation and decommissioning 59 102 7,277 3,795
Income taxes (336) (1,159) 3,001 (620)
Property and other taxes
---------------------------------------------------------------
Total operating expenses 703 2,480 64,808 9,552 0 0
---------------------------------------------------------------
Operating income (703) (2,486) 20,298 8,926 0 0
---------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 215 4,038 1,818 19
---------------------------------------------------------------
Total other income (deductions) - net 215 4,038 1,818 19 0 0
---------------------------------------------------------------
Income before interest and other expenses (488) 1,552 22,116 8,945 0 0
---------------------------------------------------------------
Interest on long-term debt 21 16,941 53,042
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (42,856)
Dividend on subsidiary preferred stock
---------------------------------------------------------------
Total interest and other expenses - net 21 0 16,941 10,186 0 0
---------------------------------------------------------------
NET INCOME ($509) $1,552 $5,175 ($1,241) $0 $0
===============================================================
</TABLE>
(1) Revenue - Diversified Operation = Income from Equity Investment.
(2) Income Taxes are taxes on Operating Income After Interest Expense.
<PAGE>
<PAGE>
MEC International B.V.
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
MEC
Mission MEC International
Energy AInternational Consolidating B.V.
Pty. Ltd B.V. Adjustments Consolidated
==========================================================================================
<S> <C> <C> <C> <C>
Electric revenue $103,584
Diversified operations ($975) (981)
-------------------------------------------------
Total operating revenue (975) 102,603
-------------------------------------------------
Fuel 41,740
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $180 67 ($151) 23,780
Maintenance
Depreciation and decommissioning 1,284 12,517
Income taxes (61) (628) 197
Property and other taxes
-------------------------------------------------
Total operating expenses 119 723 (151) 78,234
-------------------------------------------------
Operating income (119) (1,698) 151 24,369
-------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net (249) (3,659) 2,182
-------------------------------------------------
Total other income (deductions) - net 0 (249) (3,659) 2,182
-------------------------------------------------
Income before interest and other expenses (119) (1,947) (3,508) 26,551
-------------------------------------------------
Interest on long-term debt 524 (2,237) 68,291
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (42,856)
Dividend on subsidiary preferred stock
-------------------------------------------------
Total interest and other expenses - net 0 524 (2,237) 25,435
-------------------------------------------------
NET INCOME ($119) ($2,471) ($1,271) $1,116
=================================================
/TABLE
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
MEC Hydro Hydro MEC
International Energy Energy International
B.V. B.V. B.V. B.V.
==========================================================================================================
==========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Hydro Compania Iberica Iberian
Energy Mediterranea de Energias Hy-Power
B.V. de Energias S.A. Amsterdam
B.V.
Ownership Interest: 10.0% 100.0% 100.0% 34.0%
Nature/Purpose of Business: (a) (a) (a) (a)
Ownership Interest in (000):
Assets $99,765 $32,768 $36,971 $66,006
Revenues 942 4,950 4,474 8,572
Net Income 167 1,384 1,502 275
</TABLE>
(a) To own hydroelectric facilities located
throughout Spain.
(b) To own and operate a 1000MW cogeneration
facility located in the Latrobe Valley of Australia.
<PAGE>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Iberian Iberian Iberian
Hydro Hy-Power Hy-Power Hy-Power
Energy Amsterdam Amsterdam Amsterdam
B.V. B.V. B.V. B.V.
===========================================================================================================
===========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Energias Electro- Hidroelectrica Hidroelectrica
Hidraulicas Metalurgica de Sossis, de Olvera
S.A. del Ebro S.A.
Ownership Interest: 100.0% 80.1% 99.9%. 66.0%
Nature/Purpose of Business: (a) (a) (a) (a)
Ownership Interest in (000):
Assets $8,055 $71,677 $7,098 $2,624
Revenues 0 10,649 1,612 44
Net Income (1,214) (1,474) (109) (17)
</TABLE>
(a) To own hydroelectric facilities located
throughout Spain.
(b) To own and operate a 1000MW cogeneration
facility located in the Latrobe Valley of Australia.
<PAGE>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Iberian Iberian Iberian Iberian
Hy-Power Hy-Power Hy-Power Hy-Power
Amsterdam Amsterdam Amsterdam Amsterdam
B.V. B.V. B.V. B.V.
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Hidroelectrica Hidroelectrica Hidroelectrica Electra
del Cadagua, de Casillas de Posadas, La Mella
S.A. S.A.
Ownership Interest: 72.8% 49.0% 100.0% 70.0%
Nature/Purpose of Business: (a) (a) (a) (a)
Ownership Interest in (000):
Assets $3,131 $172 $301 $368
Revenues 497 0 0 90
Net Income 4 0 1 16
</TABLE>
(a) To own hydroelectric facilities located
throughout Spain.
(b) To own and operate a 1000MW cogeneration
facility located in the Latrobe Valley of Australia.
<PAGE>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Iberian (1) (2)
Hy-Power Latrobe Mission Latrobe
Amsterdam Power Victoria Power
B.V. Pty. Ltd. Partnership Partnership
===================================================================================================
===================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Hydro Mission Latrobe Loy Yang B
Energy Victoria Power Joint
B.V. Partnership Partnership Venture
(1) (2)
Ownership Interest: 90.0% 52.3% 42.0% 51.0%
Nature/Purpose of Business: (a) (b) (b) (b)
Ownership Interest in (000):
Assets $82,538 $0 $239,255 $466,458
Revenues 8,482 0 8,619 20,255
Net Income 2,597 0 (2,134) 13,083
</TABLE>
(a) To own hydroelectric facilities located
throughout Spain.
(b) To own and operate a 1000MW cogeneration
facility located in the Latrobe Valley of Australia.
<PAGE>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
(3) Mission Egy.
Mission Egy. Latrobe Ventures MEC
Australia Power Australia International
Pty. Ltd. Partnership Pty. Ltd. B.V.
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Latrobe Loy Yang B Mission Latrobe
Power Joint Victoria Power
Partnership Venture Partnership Pty. Ltd.
(3) (4) (9)
Ownership Interest: 58.0% 51.0% N/A 50.0%
Nature/Purpose of Business: (b) (b) (b) (b)
Ownership Interest in (000):
Assets $330,400 $466,458 $0 $4,595
Revenues 11,902 20,255 0 0
Net Income (2,947) 13,083 0 (765)
</TABLE>
(a) To own hydroelectric facilities located
throughout Spain.
(b) To own and operate a 1000MW cogeneration
facility located in the Latrobe Valley of Australia.
<PAGE>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
(4) (5) (6)
Mission Latrobe MEC Traralgon
Victoria Power International Power
Partnership Partnership Pty. Ltd. Pty. Ltd.
=======================================================================================================
=======================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Latrobe Loy Yang B Traralgon Mission
Power Joint Power Victoria
Partnership Venture Pty. Ltd. Partnership
(5) (6) (7)
Ownership Interest: 42.0% 51.0% 50.0% 46.7%
Nature/Purpose of Business: (b) (b) (b) (b)
Ownership Interest in (000):
Assets $239,255 $446,458 $4,101 $0
Revenues 8,619 20,255 0 0
Net Income (2,134) 13,083 (683) 0
</TABLE>
(a) To own hydroelectric facilities located
throughout Spain.
(b) To own and operate a 1000MW cogeneration
facility located in the Latrobe Valley of Australia.
<PAGE>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
(7) (8) Mission Mission
Mission Latrobe Energy Energy
Victoria Power Canada Canada
Partnership Partnership Corporation Corporation
=====================================================================================================
=====================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Latrobe Loy Yang B B.C. Mission
Power Joint Star Interface
Partnership Venture Partners Partnership
(8)
Ownership Interest: 42.0% 51.0% 50% 50%
Nature/Purpose of Business: (b) (b) (c) (c)
Ownership Interest in (000):
Assets $239,255 $466,458 $47,363 $0
Revenues 8,619 20,255 $14,861 $0
Net Income (2,134) 13,083 $3,468 $0
</TABLE>
(a) To own hydroelectric facilities located
throughout Spain.
(b) To own and operate a 1000MW cogeneration
facility located in the Latrobe Valley of Australia.
<PAGE>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Mission
Energy
Company (UK)
Limited
=================================================================
=================================================================
<S> <C>
Name of Entity: Derwent
Cogeneration
Company
Ownership Interest: 33%
Nature/Purpose of Business: (c)
Ownership Interest in (000):
Assets $31,282
Revenues $52
Net Income ($3)
</TABLE>
(a) To own hydroelectric facilities located
throughout Spain.
(b) To own and operate a 1000MW cogeneration
facility located in the Latrobe Valley of Australia.
<PAGE>
<PAGE>
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Egy.
Energy Ventures
Austrailia Austrailia
Pty. Ltd. Pty. Ltd.
=====================================================================
ASSETS
=====================================================================
<S> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------------------
Total utility plant
-------------------------
Nonutility property - net of accumulated
provision for depreciation $536,751
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-------------------------
Total other property and investments 536,751 0
-------------------------
Cash and equivalents 980
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 4,833
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 641
-------------------------
Total current assets 6,454 0
-------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 59,580 88
-------------------------
Total deferred charges 59,580 88
-------------------------
TOTAL ASSETS $602,785 $88
=========================
</TABLE>
<PAGE>
<PAGE>
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Egy.
Energy Ventures
Austrailia Austrailia
Pty. Ltd. Pty. Ltd.
=====================================================================
CAPITALIZATION AND LIABILITIES
=====================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Retained earnings $163 ($15)
-------------------------
163 (15)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 18,785
-------------------------
Total capitalization 18,948 (15)
-------------------------
Other long-term liabilities 564,877
-------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 9,936
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------------------
Total current liabilities 9,936 0
-------------------------
Accumulated deferred income taxes - net 11,190 81
Accumulated deferred investment tax credits
Customer advances and other deferred credits (2,166) 22
-------------------------
Total deferred credits 9,024 103
-------------------------
TOTAL CAPITALIZATION AND LIABILITIES $602,785 $88
=========================
</TABLE>
<PAGE>
<PAGE>
Loy Yang Holdings Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Egy.
Energy Ventures
Austrailia Austrailia
Pty. Ltd. Pty. Ltd.
=====================================================================
<S> <C> <C>
Electric revenue
Diversified operations $20,522 ($22)
----------------------------
Total operating revenue 20,522 (22)
----------------------------
Fuel 5,341
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 9,124
Maintenance
Depreciation and decommissioning 3,793
Income taxes 147 (7)
Property and other taxes
----------------------------
Total operating expenses 18,405 (7)
----------------------------
Operating income 2,117 (15)
----------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 8,228
----------------------------
Total other income (deductions) - net 8,228 0
----------------------------
Income before interest and other expenses 10,345 (15)
----------------------------
Interest on long-term debt 53,038
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (42,856)
Dividend on subsidiary preferred stock
----------------------------
Total interest and other expenses - net 10,182 0
----------------------------
NET INCOME $163 ($15)
============================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company (UK) Limited
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Energy Mission
Energy Services (No. 2)
Limited Limited Limited
============================================================================
ASSETS
============================================================================
<S> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
--------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
--------------------------------
Total utility plant
--------------------------------
Nonutility property - net of accumulated
provision for depreciation $753
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
--------------------------------
Total other property and investments 753
--------------------------------
Cash and equivalents 28 $280
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 214 126
--------------------------------
Total current assets 242 406
--------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 16 5
--------------------------------
Total deferred charges 16 5
--------------------------------
TOTAL ASSETS $1,011 $411 $0
================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company (UK) Limited
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Energy Mission
Energy Services (No. 2)
Limited Limited Limited
============================================================================
CAPITALIZATION AND LIABILITIES
============================================================================
<S> <C> <C> <C>
Common shareholders' equity
Common stock
Retianed earnings ($745) ($125)
--------------------------------
Preferred stock of subsidiary: (745) (125)
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt of subsidiaries
--------------------------------
Total capitalization (745) (125)
--------------------------------
Other long-term liabilities
--------------------------------
Current portion of subsidiaries' long-term
debt and redeemable subsidiary preferred stock
Short-term debt 1,011 476
Accounts payable 710 44
Accrued taxes 14 16
Accrued interest
Dividends payable
Regulator balancing accounts--net
Deferred unbilled revenue and other
--------------------------------
Total current liabilities 1,735 536
--------------------------------
Accumulated deferred income taxes - net 21
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------------
Total deferred credits 21
--------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,011 $411 $0
================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Company (UK) Limited
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Energy Mission
Energy Services (No. 2)
Limited Limited Limited
===========================================================================
<S> <C> <C> <C>
Electric revenue
Diversified operations $2,835 $891
-------------------------------
Total operating revenue 2,835 891
-------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3,523 1,019
Maintenance
Depreciation and decommissioning 102
Income taxes
Property and other taxes
-------------------------------
Total operating expenses 3,625 1,019
-------------------------------
Operating income (790) (128)
-------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net (2) 2
-------------------------------
Total other income (deductions) - net (2) 2
-------------------------------
Income before interest and other expenses (792) (126)
-------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------
Total interest and other expenses - net
-------------------------------
NET INCOME ($792) ($126)
===============================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Holdings Party Limited
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Egy. Mission Egy.
Development Management
Austrailia Austrailia
Pty. Ltd. Pty. Ltd.
=====================================================================
ASSETS
=====================================================================
<S> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------------------
Total utility plant
-------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-------------------------
Total other property and investments 0 0
-------------------------
Cash and equivalents 202
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (202)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-------------------------
Total current assets 0 0
-------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
-------------------------
Total deferred charges 0 0
-------------------------
TOTAL ASSETS $0 $0
=========================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Holdings Party Limited
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Egy. Mission Egy.
Development Management
Austrailia Austrailia
Pty. Ltd. Pty. Ltd.
=====================================================================
CAPITALIZATION AND LIABILITIES
=====================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Retained earnings
-------------------------
0 0
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-------------------------
Total capitalization 0 0
-------------------------
Other long-term liabilities
-------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------------------
Total current liabilities 0 0
-------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-------------------------
Total deferred credits 0 0
-------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0
=========================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Holdings Party Limited
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Egy. Mission Egy.
Development Management
Austrailia Austrailia
Pty. Ltd. Pty. Ltd.
=====================================================================
<S> <C> <C>
Electric revenue
Diversified operations $300
----------------------------
Total operating revenue 0 300
----------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $301
Maintenance
Depreciation and decommissioning
Income taxes
Property and other taxes
----------------------------
Total operating expenses 0 301
----------------------------
Operating income 0 (1)
----------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 1
----------------------------
Total other income (deductions) - net 0 1
----------------------------
Income before interest and other expenses 0 0
----------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
----------------------------
Total interest and other expenses - net 0 0
----------------------------
NET INCOME $0 $0
============================
</TABLE>
<PAGE>
<PAGE>
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Power Ltd.
=============================================================
ASSETS
=============================================================
<S> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------
Total utility plant
-------------
Nonutility property - net of accumulated
provision for depreciation 163,361
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-------------
Total other property and investments 163,361
-------------
Cash and equivalents 36,439
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 10,118
-------------
Total current assets 46,557
-------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
-------------
Total deferred charges
-------------
TOTAL ASSETS 209,918
=============
</TABLE>
<PAGE>
<PAGE>
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Power Ltd.
=============================================================
CAPITALIZATION AND LIABILITIES
=============================================================
<S> <C>
Common shareholders' equity:
Common stock
Retained earnings $5,132
-------------
5,132
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 162,385
-------------
Total capitalization 167,517
-------------
Other long-term liabilities
-------------
Current portion of long-term
debt and redeemable preferred stock 16,186
Short-term debt
Accounts payable 21,850
Accrued taxes 1,459
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------
Total current liabilities 39,495
-------------
Accumulated deferred income taxes - net 2,906
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-------------
Total deferred credits 2,906
-------------
TOTAL CAPITALIZATION AND LIABILITIES 209,918
=============
</TABLE>
<PAGE>
<PAGE>
Pride Hold Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Power Ltd.
=============================================================
<S> <C>
Electric revenue $85,106
Diversified operations
-------------
Total operating revenue 85,106
-------------
Fuel 38,308
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 26,048
Maintenance
Depreciation and decommissioning
Income taxes
Property and other taxes
-------------
Total operating expenses 64,356
-------------
Operating income 20,750
-------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 1,367
-------------
Total other income (deductions) - net 1,367
-------------
Income before interest and other expenses 22,117
-------------
Interest on long-term debt 16,941
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------
Total interest and other expenses - net 16,941
-------------
NET INCOME $5,176
=============
</TABLE>
<PAGE>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Southern
Energy Energy Energy Pocono Sierra Mission
Oil & Gas Petroleum Methane Fuels Gas Energy Fuel
Company Company Company Company Company Company
==============================================================================================================
ASSETS (Inactive) (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------------
Total utility plant
------------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $94,454 $0 $43,882 $0 $968 $51,803
Investments in leveraged leases
Other investments
------------------------------------------------------------------
Total other property and investments 94,454 0 43,882 0 968 51,803
------------------------------------------------------------------
Cash and equivalents 3 78 4 106
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 6 437 317
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 3 909
------------------------------------------------------------------
Total current assets 9 518 321 1,015
------------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,443
------------------------------------------------------------------
Total deferred charges 1,443
------------------------------------------------------------------
TOTAL ASSETS $94,463 $0 $44,400 $1,764 $968 $52,818
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Southern
Energy Energy Energy Pocono Sierra Mission
Oil & Gas Petroleum Methane Fuels Gas Energy Fuel
Company Company Company Company Company Company
==============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $92,199 $0 $43,103 $1,636 $0 $53,285
Retained earnings (843) ($2) 223 188 176 (542)
------------------------------------------------------------------
91,356 (2) 43,326 1,824 176 52,743
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------------------
Total capitalization 91,356 (2) 43,326 1,824 176 52,743
------------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt 0
Accounts payable 12,101 2 (2,048) (783) 805 48
Accrued taxes
Accrued interest 0
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------------------
Total current liabilities 12,101 2 (2,048) (783) 805 48
------------------------------------------------------------------
Accumulated deferred income taxes - net (8,994) 3,122 406 (13) 27
Accumulated deferred investment tax credits
Customer advances and other deferred credits 317
------------------------------------------------------------------
Total deferred credits (8,994) 0 3,122 723 (13) 27
------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $94,463 $0 $44,400 $1,764 $968 $52,818
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy Fuel
Consolidati Company
AdjustmentsConsolidated
====================================================================
ASSETS
====================================================================
<S> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------------------
Construction work in progress
Nuclear fuel, at amortized cost
------------------------
Total utility plant
------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($51,803) $139,304
Investments in leveraged leases
Other investments 0
------------------------
Total other property and investments (51,803) 139,304
------------------------
Cash and equivalents 0 191
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 760
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 0 912
------------------------
Total current assets 0 1,863
------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,443
------------------------
Total deferred charges 1,443
------------------------
TOTAL ASSETS ($51,803) $142,610
========================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy Fuel
Consolidati Company
AdjustmentsConsolidated
====================================================================
CAPITALIZATION AND LIABILITIES
====================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock ($51,803) $138,420
Retained earnings 0 ($800)
------------------------
(51,803) 137,620
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------
Total capitalization (51,803) 137,620
------------------------
Other long-term liabilities
------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt 0
Accounts payable 0 10,125
Accrued taxes 0
Accrued interest 0
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------
Total current liabilities 0 10,125
------------------------
Accumulated deferred income taxes - net (5,452)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 317
------------------------
Total deferred credits 0 (5,135)
------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($51,803) $142,610
========================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Fuel Company
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Southern
Energy Energy Energy Pocono Sierra Mission
Oil & Gas Petroleum Methane Fuels Gas Energy Fuel
Company Company Company Company Company Company
==============================================================================================================
(Inactive) (Inactive)
<S> <C> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $12,211 $0 $393 $0 $828 $0
----------------------------------------------------------------------
Total operating revenue 12,211 393 0 828
----------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 744 922 625
Maintenance
Depreciation and decommissioning 691 (11) 0
Income taxes 424 (176) (28) 65 (8)
Property and other taxes
----------------------------------------------------------------------
Total operating expenses 1,859 0 735 (28) 690 (8)
----------------------------------------------------------------------
Operating income 10,352 0 (342) 28 138 8
----------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 1,085 0 0 0 (541)
----------------------------------------------------------------------
Total other income (deductions) - net 1,085 0 0 0 0 (541)
----------------------------------------------------------------------
Income before interest and other expense 11,437 0 (342) 28 138 (533)
----------------------------------------------------------------------
Interest on long-term debt 847
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
----------------------------------------------------------------------
Total interest and other expenses - net 847
----------------------------------------------------------------------
NET INCOME $10,590 $0 ($342) $28 $138 ($533)
======================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Energy Fuel Company
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy Fuel
Consolidating Company
Adjustments Consolidated
=====================================================================
<S> <C> <C>
Electric revenue
Diversified operations $0 $13,432
-----------------------------
Total operating revenue 13,432
-----------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 2,291
Maintenance
Depreciation and decommissioning 680
Income taxes 277
Property and other taxes
-----------------------------
Total operating expenses 0 3,248
-----------------------------
Operating income 0 10,184
-----------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 544
-----------------------------
Total other income (deductions) - net 0 544
-----------------------------
Income before interest and other expense 0 10,728
-----------------------------
Interest on long-term debt 847
Other interest expense 0
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-----------------------------
Total interest and other expenses - net 847
-----------------------------
NET INCOME $0 $9,881
=============================
</TABLE>
<PAGE>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Balance Sheet
Decmber 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Renewable
Funding Energy Mission
Burlington Company Capital First Consolidating
Apts., Inc. Consolidated Company Financial Adjustments
===========================================================================================================
ASSETS
===========================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------------------
Total utility plant
------------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $32,191 $418
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $691,998 36,124 ($36,124)
Investments in leveraged leases 43,561
Other investments
------------------------------------------------------------------
Total other property and investments 32,191 735,559 36,542 (36,124)
------------------------------------------------------------------
Cash and equivalents 468 135,166 132
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 545 24,584 $310 41,985 (4,473)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 350 12 36
------------------------------------------------------------------
Total current assets 1,363 159,762 310 42,153 (4,473)
------------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 826 3,536
------------------------------------------------------------------
Total deferred charges 826 3,536
------------------------------------------------------------------
TOTAL ASSETS $34,380 $898,857 $310 $78,695 ($40,597)
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Balance Sheet
Decmber 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Renewable
Funding Energy Mission
Burlington Company Capital First Consolidating
Apts., Inc. Consolidated Company Financial Adjustments
===========================================================================================================
CAPITALIZATION AND LIABILITIES
===========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $1,528 $125,059 $3 $78,909 ($126,590)
Retained earnings ($69) 56,281 186 (6,648) 90,468
------------------------------------------------------------------
1,459 181,340 189 72,261 (36,122)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 29,611 181,270
------------------------------------------------------------------
Total capitalization 31,070 362,610 189 72,261 (36,122)
------------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable
Accrued taxes 179 635 121 4,122 (4,475)
Accrued interest
Dividends payable 734 521
Regulatory balancing accounts--net
Deferred unbilled revenue and other 431 82,759 1,762
------------------------------------------------------------------
Total current liabilities 1,344 83,915 121 5,884 (4,475)
------------------------------------------------------------------
Accumulated deferred income taxes - net 2,032 422,169 (570)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (66) 30,163 1,120
Total deferred credits 1,966 452,332 0 550 0
------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $34,380 $898,857 $310 $78,695 ($40,597)
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Balance Sheet
Decmber 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission First
Financial
Consolidated
========================================================
ASSETS
========================================================
<S> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
---------------
Construction work in progress
Nuclear fuel, at amortized cost
---------------
Total utility plant
---------------
Nonutility property - net of accumulated
provision for depreciation $32,609
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 691,998
Investments in leveraged leases 43,561
Other investments
---------------
Total other property and investments 768,168
---------------
Cash and equivalents 135,766
Receivables, including unbilled revenue,
of allowance for uncollectible accounts 62,951
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 398
---------------
Total current assets 199,115
---------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 4,362
---------------
Total deferred charges 4,362
---------------
TOTAL ASSETS $971,645
===============
</TABLE>
<PAGE>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Balance Sheet
Decmber 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission First
Financial
Consolidated
========================================================
CAPITALIZATION AND LIABILITIES
========================================================
<S> <C>
Common shareholders' equity:
Common stock $78,909
Retained earnings 140,218
---------------
219,127
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 210,881
---------------
Total capitalization 430,008
---------------
Other long-term liabilities
---------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable
Accrued taxes 582
Accrued interest
Dividends payable 1,255
Regulatory balancing accounts--net
Deferred unbilled revenue and other 84,952
---------------
Total current liabilities 86,789
---------------
Accumulated deferred income taxes - net 423,631
Accumulated deferred investment tax credi
Customer advances and other deferred cred 31,217
Total deferred credits 454,848
---------------
TOTAL CAPITALIZATION AND LIABILITIES $971,645
===============
</TABLE>
<PAGE>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Renewable
Funding Energy Mission
Burlington Company Capital First Consolidating
Apts., Inc. Consolidated Company Financial Adjustments
====================================================================================================
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $2,159 $8,790
-----------------------------------------------------------
Total operating revenue 2,159 8,790
-----------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 972 550 3,843
Maintenance
Depreciation and decommissioning 587 3,839 89
Income taxes 29 (23,064) (1,643)
Property and other taxes
-----------------------------------------------------------
Total operating expenses 1,588 (18,675) 2,289
-----------------------------------------------------------
Operating income 571 27,465 (2,289)
-----------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 727 15,500 1,216
-----------------------------------------------------------
Total other income (deductions) - net 727 15,500 1,216
-----------------------------------------------------------
Income before interest and other expenses 1,298 42,965 (1,073)
-----------------------------------------------------------
Interest on long-term debt 1,367 12,570
Other interest expense 47
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-----------------------------------------------------------
Total interest and other expenses - net 1,367 12,617
-----------------------------------------------------------
NET INCOME ($69) $30,348 $0 ($1,073) $0
===========================================================
</TABLE>
<PAGE>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission First
Financial
Consolidated
======================================================
<S> <C>
Electric revenue
Diversified operations $10,949
-------------
Total operating revenue 10,949
-------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 5,365
Maintenance
Depreciation and decommissioning 4,515
Income taxes (24,678)
Property and other taxes
-------------
Total operating expenses (14,798)
-------------
Operating income 25,747
-------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 17,443
-------------
Total other income (deductions) - net 17,443
-------------
Income before interest and other expenses 43,190
-------------
Interest on long-term debt 13,937
Other interest expense 47
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------
Total interest and other expenses - net 13,984
-------------
NET INCOME $29,206
=============
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Investments Investments Investments
=====================================================================================================
=====================================================================================================
<S> <C> <C> <C>
Name of Entity: Abby Associates A E Associates Argyle
(Windmere) (Avenida Espana) Redevelopment
Partnership
Ownership Interest: 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $0 $9,929 $6,189
Revenues 0 $21 $2,450
Net Income (Loss) 0 ($52) ($185)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Bartlett Hill Berry Avenue Carlton Way Centertown
Associates Associates Apartments Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $7,058 $0 $0 $8,129
Revenues $447 $0 $0 $354
Net Income (Loss) ($251) $0 $0 ($302)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
===========================================================================================================
===========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Centro Corona Ely/ Coyote Springs Crescent Arms
Partners Ranch Apartments
Associates Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $0 $0 $13,304 $0
Revenues $0 $0 $429 $0
Net Income (Loss) $0 $0 ($467) $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Cypress Cove EAH Larkspur East Catati Edmundson
Associates Creekside Avenue Partners Associates
Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $3,213 $3,264 $6,285 $4,346
Revenues $76 $200 $100 $149
Net Income (Loss) ($94) ($99) ($166) ($141)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
======================================================================================================
======================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Farm (The) Fell Street Gilroy Ginzton
Associates Housing Redwood Associates
Associates Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $6,471 $0 $3,699 $9,940
Revenues $126 $0 $185 $315
Net Income (Loss) ($181) $0 ($101) ($255)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
=======================================================================================================
=======================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Grossman Heather Glen Holy Family Hope West
Apartments Associates Associates Apartments
Investors
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $1,315 $8,819 $9,240 $0
Revenues $7 $317 $224 $0
Net Income (Loss) ($28) $245 ($295) $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments I
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Kennedy Lofts La Brea/ Larkin California Park
Associates Franklin Pine Apartments
Ownership Interest: 97.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $20,492 $0 $0 $3,609
Revenues $1,845 $0 $0 $346
Net Income (Loss) ($897) $0 $0 ($162)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission Mission
Housing Housing Housing Housing Housing
II III IV V Investments
==============================================================================================================
==============================================================================================================
<S> <C> <C> <C> <C> <C>
Name of Entity: 5363 Dent De Rosa MPT Centennial Mar
Avenue Housing Apartments Place Associates
Associates Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $1,384 $5,248 $8,327 $11,484 $17,544
Revenues $163 $446 $928 $495 $677
Net Income (Loss) ($54) ($290) ($336) ($396) ($647)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Alpha
=======================================================================================================
=======================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Mayacamas Mid-Peninsula Mission Capp Lee Park
Village Sharmon Palms Investors
Associates Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $0 $3,774 $6,109 $35,042
Revenues $0 $218 $389 $4,611
Net Income (Loss) $0 ($98) ($190) $75
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Beta Gamma Delta Delta
=====================================================================================================
=====================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Richmond Del Carlo MH I MH II
City Center Court Limited Limited
Associates Associates Partnership Partnership
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $8,270 $6,099 $3,573 $1,370
Revenues $169 $123 $343 $161
Net Income (Loss) ($430) ($215) ($160) ($53)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission
Mission Mission Mission Housing
Housing Housing Housing Investors
Delta Delta Episilon Partnership
====================================================================================================
====================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MH III MH IV Forest Winds
Limited Limited Associates
Partnership Partnership
Ownership Interest: 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $5,196 $8,244 $0
Revenues $442 $919 $0
Net Income (Loss) ($287) ($333) $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investors Investors Investors Investors
Partnership Partnership Partnership Partnership
======================================================================================================
======================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Glen Eden Gray's Prince Rancho Park
Associates Meadows Bozzuto
Investors
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $361 $0 $0 $398
Revenues $0 $0 $0 $0
Net Income (Loss) ($111) $0 ($101) ($26)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investors Investors Investors Investors
Partnership Partnership Partnership Partnership
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Rustic Gardens Sea Ranch Springdale 1028 Howard
Associates Apartments Kresson Street
Associates Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $0 $131 $424 $0
Revenues $0 $1 $4 $0
Net Income (Loss) $0 ($47) ($135) $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Zeta Theta Theta Theta
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Mission Mission Mission
Housing Housing Housing
Investors Investors Investors
Partnership Partnership Partnership
(Forest Winds) (Glen Eden) Gray's Meadows)
Ownership Interest: 5% x 99% 5% x 99% 5% x 99%
Equity Interest in (000):
Assets $0 $18 $0
Revenues $0 $0 $0
Net Income (Loss) $0 ($6) $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Theta Theta Theta
=================================================================================================
=================================================================================================
<S> <C> <C> <C>
Name of Entity: Mission Mission Mission
Housing Housing Housing
Investors Investors Investors
Partnership Partnership Partnership
(Rancho Park) (Rustic Gardens) (Sea Ranch)
Ownership Interest: 5% x 99% 5% x 99% 5% x 99%
Equity Interest in (000):
Assets $20 $0 $7
Revenues $0 $0 $0
Net Income (Loss) ($1) $0 ($2)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Theta Theta Investments
=====================================================================================================
=====================================================================================================
<S> <C> <C> <C>
Name of Entity: Mission Mission Morrone
Housing Housing Gardens
Investors Investors Associates
Partnership Partnership
(Springdale Kresson) (1028 Howard)
Ownership Interest: 5% x 99% 5% x 99% 99%
Equity Interest in (000):
Assets $21 $0 $0
Revenues $0 $0 $0
Net Income (Loss) ($7) $0 $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
========================================================================================================
========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Neary Lagoon Open Doors Pajaro Court Palmer
Associates Associates Associates House
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $10,590 $9,349 $0 $2,025
Revenues $389 $291 $0 $185
Net Income (Loss) ($410) ($274) $0 ($65)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
=======================================================================================================
=======================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Park Place Pilot Pinole Grove Post Office
Terrace Grove Associates Plaza
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $0 $0 $0 $61,231
Revenues $0 $0 $0 $7,338
Net Income (Loss) $0 ($413) $0 ($1,471)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
========================================================================================================
========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Rincon De Los Riverside/ Rosebloom Runsen
Esteros Liebrandt Associates Associates
Associates Partners
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $0 $0 $5,016 $0
Revenues $0 $0 $146 $0
Net Income (Loss) $0 $0 ($170) $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: San Pablo San Pedro Santa Paulan Second Street
Senior Housing Gardens Senior Center
Associates Associates Apartments
Associates
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $4,548 $3,542 $9,385 $0
Revenues $288 $107 $764 $0
Net Income (Loss) ($198) ($151) ($202) $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
======================================================================================================
======================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: South Beach Stoney Studebaker Sultana
Housing Creek Building Acres
Associates Associates Associates
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $21,300 $11,174 $3,857 $2,707
Revenues $602 $327 $39 $136
Net Income (Loss) ($450) ($544) ($51) ($95)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Tabor Grand The Josephinum Terra Linda Tlaquepaque
Associates Associates Housing
Associates
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $3,982 $10,940 $0 $0
Revenues $172 $865 $0 $0
Net Income (Loss) ($140) ($429) $0 $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
========================================================================================================
========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Tuscany Washington Westport Wheeler
Associates Creek Village Homes Manor
Associates Associates Associates
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $4,887 $4,199 $1,276 $13,139
Revenues $34 $94 $121 $439
Net Income (Loss) ($101) ($127) ($37) ($373)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
========================================================================================================
========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Winfield Y.W.C.A. 16th and 1101 Howard
Hill Villa Nueva Church Street Street
Associates Associates Associates Associates
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $0 $10,438 $2,707 $0
Revenues $0 $109 $112 $0
Net Income (Loss) $0 ($419) ($132) $0
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1993
<TABLE>
<CAPTION>
Mission Mission
Housing Housing
Investments Investments
=============================================================================
=============================================================================
<S> <C> <C>
Name of Entity: $210 Delta
Washington Plaza
Avenue Apartments
Associates Associates
Ownership Interest: 99% 99%
Equity Interest in (000):
Assets $11,206 $0
Revenues $488 $12
Net Income (Loss) ($719) ($41)
</TABLE>
<PAGE>
<PAGE>
Mission First Financial
Equity Investments in Resource Recovery Project
December 31, 1993
<TABLE>
<CAPTION>
Mission Burlington
Funding Apartments,
Zeta Inc.
====================================================================
====================================================================
<S> <C> <C>
Name of Entity: Huntingtington Burlington
Arboretum L.P.
Ownership Interest: 50.0% 94.67%
Equity Interest in (000):
Original Cost of Interest $26,450 $34,380
Investment in Resource Recovery
Project 24,476 2,456
Investment Income - Net 128 (470)
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding Mission Mission
First Asset Funding Epsilon Funding Funding
Investment Beta Consolidated Gamma Kappa
==========================================================================================================
ASSETS
==========================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
---------------------------------------------------------------
Total utility plant
---------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $69,783 $331,439 51568 83
Investments in leveraged leases 2,701 36,358 $4,502
Other investments
---------------------------------------------------------------
Total other property and investments 72,484 367,797 56,070 83
---------------------------------------------------------------
Cash and equivalents 2
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 19,770 46,876 266,532 27,989 12
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 12
---------------------------------------------------------------
Total current assets 19,770 46,876 266,546 27,989 12
---------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 87
---------------------------------------------------------------
Total deferred charges 87 0 0
---------------------------------------------------------------
TOTAL ASSETS $19,770 $119,360 $634,430 $84,059 $95
===============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding Mission Mission
First Asset Funding Epsilon Funding Funding
Investment Beta Consolidated Gamma Kappa
==========================================================================================================
CAPITALIZATION AND LIABILITIES
==========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $19,764 $39,723 $244,974 $31,449 $100
Retained earnings 5 18,299 89,229 13,585 (16)
---------------------------------------------------------------
19,769 58,022 334,203 45,034 84
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
---------------------------------------------------------------
Total capitalization 19,769 58,022 334,203 45,034 84
---------------------------------------------------------------
Other long-term liabilities
---------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 1 39 87 41 11
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 56 299 94
---------------------------------------------------------------
Total current liabilities 1 95 386 135 11
---------------------------------------------------------------
Accumulated deferred income taxes - net 61,243 299,841 38,890
Accumulated deferred investment tax credits
Customer advances and other deferred credits
---------------------------------------------------------------
Total deferred credits 0 61,243 299,841 38,890 0
---------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $19,770 $119,360 $634,430 $84,059 $95
===============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Housing Mission
Funding Funding Investments Funding Consolidating
Theta Zeta Consolidated Company Adjustments
==========================================================================================================
ASSETS
==========================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
---------------------------------------------------------------
Total utility plant
---------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $24,475 $229,497 $486,307 ($501,154)
Investments in leveraged leases
Other investments
---------------------------------------------------------------
Total other property and investments 0 24,475 229,497 486,307 (501,154)
---------------------------------------------------------------
Cash and equivalents 8,334 126,830
Receivables, including unbilled revenue, ne
of allowance for uncollectible accounts 4 20,654 65,009 2,455 (424,717)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
---------------------------------------------------------------
Total current assets 4 20,654 73,343 129,285 (424,717)
---------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2,475 974
---------------------------------------------------------------
Total deferred charges 2,475 974
---------------------------------------------------------------
TOTAL ASSETS $4 $45,129 $305,315 $616,566 ($925,871)
===============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Housing Mission
Funding Funding Investments Funding Consolidating
Theta Zeta Consolidated Company Adjustments
==========================================================================================================
CAPITALIZATION AND LIABILITIES
==========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $26,450 $151,704 $125,059 ($514,164)
Retained earnings ($7) 5,280 28,671 (111,775) 13,010
---------------------------------------------------------------
(7) 31,730 180,375 13,284 (501,154)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 181,270
---------------------------------------------------------------
Total capitalization (7) 31,730 180,375 194,554 (501,154)
---------------------------------------------------------------
Other long-term liabilities
---------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 11 86 3,985 421,091 (424,717)
Accrued taxes 521
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 81,910 400
---------------------------------------------------------------
Total current liabilities 11 86 85,895 422,012 (424,717)
---------------------------------------------------------------
Accumulated deferred income taxes - net 13,313 8,882
Accumulated deferred investment tax credits
Customer advances and other deferred credit 30,163
---------------------------------------------------------------
Total deferred credits 0 13,313 39,045
---------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $4 $45,129 $305,315 $616,566 ($925,871)
===============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Company
Consolidated
=========================================================
ASSETS
=========================================================
<S> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
--------------
Total utility plant
--------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $691,998
Investments in leveraged leases 43,561
Other investments
--------------
Total other property and investments 735,559
--------------
Cash and equivalents 135,166
Receivables, including unbilled revenue, ne
of allowance for uncollectible accounts 24,584
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 12
--------------
Total current assets 159,762
--------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3,536
--------------
Total deferred charges 3,536
--------------
TOTAL ASSETS $898,857
==============
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Company
Consolidated
=========================================================
CAPITALIZATION AND LIABILITIES
=========================================================
<S> <C>
Common shareholders' equity:
Common stock $125,059
Retained earnings 56,281
--------------
181,340
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 181,270
--------------
Total capitalization 362,610
--------------
Other long-term liabilities
--------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 635
Accrued taxes 521
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 82,759
--------------
Total current liabilities 83,915
--------------
Accumulated deferred income taxes - net 422,169
Accumulated deferred investment tax credits
Customer advances and other deferred credit 30,163
--------------
Total deferred credits 452,332
--------------
TOTAL CAPITALIZATION AND LIABILITIES $898,857
==============
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding Mission Mission
First Asset Funding Epsilon Funding Funding
Investment Beta Consolidated Gamma Kappa
===========================================================================================================
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $2,376 $17,152 $1,906 ($17)
------------------------------------------------------------------
Total operating revenue 0 2,376 17,152 1,906 (17)
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 10 10 41 10 10
Maintenance
Depreciation and decommissioning
Income taxes (33) 350 2,124 255 (11)
Property and other taxes
------------------------------------------------------------------
Total operating expenses (23) 360 2,165 265 (1)
------------------------------------------------------------------
Operating income 23 2,016 14,987 1,641 (16)
------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 357 1 7 1
------------------------------------------------------------------
Total other income (deductions) - net 357 1 7 1 0
------------------------------------------------------------------
Income before interest and other expenses 380 2,017 14,994 1,642 (16)
------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
------------------------------------------------------------------
Total interest and other expenses - net
------------------------------------------------------------------
NET INCOME $380 $2,017 $14,994 $1,642 ($16)
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Housing Mission
Funding Funding Investments Funding Consolidating
Theta Zeta Consolidated Company Adjustments
========================================================================================================
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations ($12,627)
---------------------------------------------------------------
Total operating revenue (12,627)
---------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $10 $10 193 256
Maintenance
Depreciation and decommissioning 894 2,945
Income taxes (4) (525) (24,906) (314)
Property and other taxes
---------------------------------------------------------------
Total operating expenses 6 379 (21,768) (58)
---------------------------------------------------------------
Operating income (6) (379) 9,141 58
---------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 612 7,094 7,428
---------------------------------------------------------------
Total other income (deductions) - net 0 612 7,094 7,428
---------------------------------------------------------------
Income before interest and other expenses (6) 233 16,235 7,486
---------------------------------------------------------------
Interest on long-term debt 12,570
Other interest expense 47
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
---------------------------------------------------------------
Total interest and other expenses - net 47 12,570
---------------------------------------------------------------
NET INCOME ($6) $233 $16,188 ($5,084) $0
===============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Company
Consolidated
=======================================================
<S> <C>
Electric revenue
Diversified operations $8,790
--------------
Total operating revenue 8,790
--------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 550
Maintenance
Depreciation and decommissioning 3,839
Income taxes (23,064)
Property and other taxes
--------------
Total operating expenses (18,675)
--------------
Operating income 27,465
--------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 15,500
--------------
Total other income (deductions) - net 15,500
--------------
Income before interest and other expenses 42,965
--------------
Interest on long-term debt 12,570
Other interest expense 47
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
--------------
Total interest and other expenses - net 12,617
--------------
NET INCOME $30,348
==============
</TABLE>
<PAGE>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission (Bermuda) Mission Mission
Funding Funding Investments, Investments Funding
Alpha Delta Ltd. Inc. Epsilon
==================================================================================================
ASSETS
==================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------
Total utility plant
------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $175,001 $25,206 $235,647
Investments in leveraged leases 36,358
Other investments
------------------------------------------------------
Total other property and investments 175,001 25,206 0 272,005
------------------------------------------------------
Cash and equivalents 1 1
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 100,664 18,429 13 2 147,437
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 12
------------------------------------------------------
Total current assets 100,664 18,429 14 3 147,449
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 6 81
------------------------------------------------------
Total deferred charges 6 81
------------------------------------------------------
TOTAL ASSETS $275,671 $43,635 $14 $3 $419,535
======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission (Bermuda) Mission Mission
Funding Funding Investments, Investments Funding
Alpha Delta Ltd. Inc. Epsilon
==================================================================================================
CAPITALIZATION AND LIABILITIES
==================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $90,522 $13,880 $12 $1 $244,974
Retained earnings 45,911 5,377 37,941
------------------------------------------------------
136,433 19,257 12 1 282,915
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 136,433 19,257 12 1 282,915
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt 41 42 2 2 13
Accounts payable
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 299
------------------------------------------------------
Total current liabilities 41 42 2 2 312
------------------------------------------------------
Accumulated deferred income taxes - net 139,197 24,336 136,308
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 139,197 24,336 0 0 136,308
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $275,671 $43,635 $14 $3 $419,535
======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Consolidating Epsilon
Adjustments Consolidated
======================================================================
ASSETS
======================================================================
<S> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
--------------------------
Construction work in progress
Nuclear fuel, at amortized cost
--------------------------
Total utility plant
--------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($104,415) $331,439
Investments in leveraged leases 36,358
Other investments
--------------------------
Total other property and investments (104,415) 367,797
--------------------------
Cash and equivalents 2
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (13) 266,532
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 12
--------------------------
Total current assets (13) 266,546
--------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 87
--------------------------
Total deferred charges 87
--------------------------
TOTAL ASSETS ($104,428) $634,430
==========================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Consolidating Epsilon
Adjustments Consolidated
======================================================================
CAPITALIZATION AND LIABILITIES
======================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock ($104,415) $244,974
Retained earnings 89,229
--------------------------
(104,415) 334,203
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------
Total capitalization (104,415) 334,203
--------------------------
Other long-term liabilities
--------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt (13) 87
Accounts payable
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 299
--------------------------
Total current liabilities (13) 386
--------------------------
Accumulated deferred income taxes - net 299,841
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------
Total deferred credits 0 299,841
--------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($104,428) $634,430
==========================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission (Bermuda) Mission Mission
Funding Funding Investments, Investments Funding
Alpha Delta Ltd. Inc. Epsilon
=========================================================================================================
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $10,395 $6,757
-----------------------------------------------------------------
Total operating revenue 10,395 6,757
-----------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 10 $10 $6 $4 11
Maintenance
Depreciation and decommissioning
Income taxes 3,289 (37) (3) (1,125)
Property and other taxes
-----------------------------------------------------------------
Total operating expenses 3,299 (27) 3 4 (1,114)
-----------------------------------------------------------------
Operating income 7,096 27 (3) (4) 7,871
-----------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 3 4
-----------------------------------------------------------------
Total other income (deductions) - net 3 4
-----------------------------------------------------------------
Income before interest and other expense 7,096 27 0 0 7,871
-----------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-----------------------------------------------------------------
Total interest and other expenses - net
-----------------------------------------------------------------
NET INCOME $7,096 $27 $7,871
=================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Consolidating Epsilon
Adjustments Consolidated
=====================================================================
<S> <C> <C>
Electric revenue
Diversified operations $17,152
-----------------------------
Total operating revenue 17,152
-----------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 41
Maintenance
Depreciation and decommissioning
Income taxes 2,124
Property and other taxes
-----------------------------
Total operating expenses 2,165
-----------------------------
Operating income 14,987
-----------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 7
-----------------------------
Total other income (deductions) - net 7
-----------------------------
Income before interest and other expense 14,994
-----------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-----------------------------
Total interest and other expenses - net
-----------------------------
NET INCOME $14,994
=============================
</TABLE>
<PAGE>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Mission Mission Mission
Housing Housing Housing Housing Housing Housing
Alpha Beta Delta Epsilon Gamma Theta
=============================================================================================================
ASSETS
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
-----------------------------------------------------------------
Total utility plant
-----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships $2,583 $4,054 $6,447 $2,710 $1,165
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 2,583 4,054 6,447 2,710 1,165
-----------------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,078 798 1,685 $4 681 1011
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------------------
Total current assets 3,078 798 1,685 4 681 1,011
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 179
-----------------------------------------------------------------
Total deferred charges 179 0 0 0 0 0
-----------------------------------------------------------------
TOTAL ASSETS $5,840 $4,852 $8,132 $4 $3,391 $2,176
=================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Mission Mission Mission
Housing Housing Housing Housing Housing Housing
Alpha Beta Delta Epsilon Gamma Theta
=============================================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $3,264 $3,526 $7,057 $1,000
Retained earnings 1,258 283 756 ($6) $403 (16)
-----------------------------------------------------------------
4,522 3,809 7,813 (6) 403 984
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------------------
Total capitalization 4,522 3,809 7,813 (6) 403 984
-----------------------------------------------------------------
Other long-term liabilities
-----------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt 60 10 10 10 2,875 9
Accounts payable
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 1,074 224 1,182
-----------------------------------------------------------------
Total current liabilities 60 1,084 234 10 2,875 1,191
-----------------------------------------------------------------
Accumulated deferred income taxes - net 1,258 (41) 85 (22) 1
Accumulated deferred investment tax credits
Customer advances and other deferred credits 135
-----------------------------------------------------------------
Total deferred credits 1,258 (41) 85 0 113 1
-----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $5,840 $4,852 $8,132 $4 $3,391 $2,176
=================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Housing
Housing Housing Consolidati Investments
Zeta Investments Adjustments Consolidated
============================================================================================
ASSETS
============================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------
Total utility plant
------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships $212,538 $229,497
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------
Total other property and investments 212,538 229,497
------------------------------------------------
Cash and equivalents 8,334 8,334
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $4 57,748 65,009
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------
Total current assets 4 66,082 73,343
------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2,296 2,475
------------------------------------------------
Total deferred charges 0 2,296 2,475
------------------------------------------------
TOTAL ASSETS $4 $280,916 $0 $305,315
================================================
</TABLE>
<PAGE>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Housing
Housing Housing Consolidati Investments
Zeta Investments Adjustments Consolidated
============================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $136,857 $151,704
Retained earnings ($7) 26,000 28,671
------------------------------------------------
(7) 162,857 180,375
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------
Total capitalization (7) 162,857 180,375
------------------------------------------------
Other long-term liabilities
------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt 11 1,000 3,985
Accounts payable
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 79,430 81,910
------------------------------------------------
Total current liabilities 11 80,430 85,895
------------------------------------------------
Accumulated deferred income taxes - net 7,601 8,882
Accumulated deferred investment tax credits
Customer advances and other deferred credits 30,028 30,163
------------------------------------------------
Total deferred credits 0 37,629 39,045
------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $4 $280,916 $0 $305,315
================================================
</TABLE>
<PAGE>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Mission Mission
Housing Housing Housing Housing Housing
Alpha Beta Delta Epsilon Gamma
===================================================================================================
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $359 ($430) ($924) ($215)
-------------------------------------------------------
Total operating revenue 359 (430) (924) 0 (215)
-------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 10 10 10 10 10
Maintenance
Depreciation and decommissioning 112 115 (90) 75
Income taxes 85 (838) (1,601) (4) (703)
Property and other taxes
-------------------------------------------------------
Total operating expenses 207 (713) (1,681) 6 (618)
-------------------------------------------------------
Operating income 152 283 757 (6) 403
-------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net
-------------------------------------------------------
Total other income (deductions) - net
-------------------------------------------------------
Income before interest and other expenses 152 283 757 (6) 403
-------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------------
NET INCOME $152 $283 $757 ($6) $403
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing Consolidating
Theta Zeta Investment Adjustments
===================================================================================================
<S> <C> <C> <C> <C>
Electric revenue
Diversified operations ($16) ($11,401)
-------------------------------------------------------
Total operating revenue (16) 0 (11,401)
-------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 10 10 123
Maintenance
Depreciation and decommissioning 2,733
Income taxes (10) (4) (21,831)
Property and other taxes
-------------------------------------------------------
Total operating expenses 0 6 (18,975)
-------------------------------------------------------
Operating income (16) (6) 7,574
-------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 7,094
-------------------------------------------------------
Total other income (deductions) - net 7,094
-------------------------------------------------------
Income before interest and other expenses (16) (6) 14,668
-------------------------------------------------------
Interest on long-term debt
Other interest expense 47
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------------------------------
Total interest and other expenses - net 47
-------------------------------------------------------
NET INCOME ($16) ($6) $14,621 $0
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Housing
Investment
Consolidated
==========================================================
<S> <C>
Electric revenue
Diversified operations ($12,627)
--------------
Total operating revenue (12,627)
--------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 193
Maintenance
Depreciation and decommissioning 2,945
Income taxes (24,906)
Property and other taxes
--------------
Total operating expenses (21,768)
--------------
Operating income 9,141
--------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 7,094
--------------
Total other income (deductions) - net 7,094
--------------
Income before interest and other expenses 16,235
--------------
Interest on long-term debt
Other interest expense 47
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
--------------
Total interest and other expenses - net 47
--------------
NET INCOME $16,188
==============
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern
Investment CA Commerce Carol Carol
Company Calabasas Center Point Point
Consolidated Palatino Inc. North, L.P. Builders I Builders II
============================================================================================================
ASSETS (inactive)
============================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
----------------------------------------------------------------
Total utility plant
----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $4 $29,584
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,053
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments 1,057 0 29,584 0 0
----------------------------------------------------------------
Cash and equivalents 139
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1,489 1 242
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1
----------------------------------------------------------------
Total current assets 1,629 0 1 242 0
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
----------------------------------------------------------------
Total deferred charges 0
----------------------------------------------------------------
TOTAL ASSETS $2,686 $0 $29,585 $242 $0
================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern
Investment CA Commerce Carol Carol
Company Calabasas Center Point Point
Consolidated Palatino Inc. North, L.P. Builders I Builders II
============================================================================================================
CAPITALIZATION AND LIABILITIES (inactive)
============================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $1,240 $6,907 ($1,875) ($72)
Retained earnings (912) (2,091) 2,114 (85)
----------------------------------------------------------------
328 0 4,816 239 (157)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------------------
Total capitalization 328 0 4,816 239 (157)
----------------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 23,210
Short-term debt
Accounts payable 775 56 3 157
Accrued taxes 79 279
Accrued interest 1,224
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------------
Total current liabilities 854 0 24,769 3 157
----------------------------------------------------------------
Accumulated deferred income taxes - net 1,504
Accumulated deferred investment tax credits
Customer advances and other deferred credits
----------------------------------------------------------------
Total deferred credits 1,504 0 0 0 0
----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $2,686 $0 $29,585 $242 $0
================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Carol Irwindale
Stream Centrelake Corona Land
Developers Partners, L.P. Partners, L.P. Company
===================================================================================================
ASSETS (inactive)
===================================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------------------------------------------------
Total utility plant
-------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $19,464 $21,417 $11,757
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-------------------------------------------------------
Total other property and investments 19,464 21,417 11,757 0
-------------------------------------------------------
Cash and equivalents 45 42 106
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 72 28 52
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (527) 137 415
-------------------------------------------------------
Total current assets (410) 207 573 0
-------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 5 387
-------------------------------------------------------
Total deferred charges 5 0 387
-------------------------------------------------------
TOTAL ASSETS $19,059 $21,624 $12,717 $0
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Carol Irwindale
Stream Centrelake Corona Land
Developers Partners, L.P. Partners, L.P. Company
===================================================================================================
CAPITALIZATION AND LIABILITIES (inactive)
===================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $11,510 $17,999 $1,435
Retained earnings (1,657) (1,250) (679)
-------------------------------------------------------
9,853 16,749 756 0
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 4,450
-------------------------------------------------------
Total capitalization 9,853 21,199 756 0
-------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 7,935 10,454
Short-term debt
Accounts payable 1,141 221 25
Accrued taxes 113 66
Accrued interest 130 25 38
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 37
-------------------------------------------------------
Total current liabilities 9,206 359 10,620 0
-------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits 66 1,341
-------------------------------------------------------
Total deferred credits 0 66 1,341 0
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $19,059 $21,624 $12,717 $0
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Lusk-Mission Mission Ontario Comstock
Industrial Airport Park Airport Mission Crosser
Partners I Dvlp. Co. Ind. Park CCH I, L.P. Hickey
=========================================================================================================
ASSETS
=========================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------------------------------------------------------
Total utility plant
-------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $54,913 $15,227 $1,040 $57,989
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,816
Investments in leveraged leases
Other investments
-------------------------------------------------------------
Total other property and investments 54,913 17,043 1,040 0 57,989
-------------------------------------------------------------
Cash and equivalents 217 6 253 76
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 617 27,766 47 7,335 389
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 106 34 24 27 989
-------------------------------------------------------------
Total current assets 723 28,017 77 7,615 1,454
-------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 9,578 813
-------------------------------------------------------------
Total deferred charges 0 9,578 0 0 813
-------------------------------------------------------------
TOTAL ASSETS $55,636 $54,638 $1,117 $7,615 $60,256
=============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Lusk-Mission Mission Ontario Comstock
Industrial Airport Park Airport Mission Crosser
Partners I Dvlp. Co. Ind. Park CCH I, L.P. Hickey
=========================================================================================================
CAPITALIZATION AND LIABILITIES
=========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $30,013 $45,032 $1,149 $6,702 $22,160
Retained earnings (3,991) 2,551 (54) 885 (3,923)
-------------------------------------------------------------
26,022 47,583 1,095 7,587 18,237
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 5,950
-------------------------------------------------------------
Total capitalization 26,022 47,583 1,095 7,587 24,187
-------------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 27,199 35,056
Short-term debt
Accounts payable 26 6,426 28 310
Accrued taxes 1,046 163 22 523
Accrued interest 1,343 135
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 8 34
-------------------------------------------------------------
Total current liabilities 29,614 6,597 22 28 36,058
-------------------------------------------------------------
Accumulated deferred income taxes - net (332)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 790 11
-------------------------------------------------------------
Total deferred credits 0 458 0 0 11
-------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $55,636 $54,638 $1,117 $7,615 $60,256
=============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial Mission
Mission Contractors, Mission Messenger Mission
DAI I, L.P. Inc. Koll I, L.P. Vacaville Nexus I, L.P.
============================================================================================================
ASSETS (inactive) (inactive)
============================================================================================================
<S> <C> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
----------------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
----------------------------------------------------------------
Total utility plant
----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $7,291 $59,812 $27,416
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments 0 0 7,291 59,812 27,416
----------------------------------------------------------------
Cash and equivalents 5 717 592
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 463 527
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 67 320 165
----------------------------------------------------------------
Total current assets 0 0 72 1,500 1,284
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 333 2,764 3,269
----------------------------------------------------------------
Total deferred charges 333 2,764 3,269
----------------------------------------------------------------
TOTAL ASSETS $0 $0 $7,696 $64,076 $31,969
================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial Mission
Mission Contractors, Mission Messenger Mission
DAI I, L.P. Inc. Koll I, L.P. Vacaville Nexus I, L.P.
============================================================================================================
CAPITALIZATION AND LIABILITIES (inactive) (inactive)
============================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $7,907 $32,694 $6,706
Retained earnings (278) (4,155) (45)
----------------------------------------------------------------
0 0 7,629 28,539 6,661
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 30,711
----------------------------------------------------------------
Total capitalization 0 0 7,629 59,250 6,661
----------------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 3,428 24,808
Short-term debt
Accounts payable 2 502 14
Accrued taxes 65 300 162
Accrued interest 564
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 13 144
----------------------------------------------------------------
Total current liabilities 0 0 67 4,807 25,128
----------------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits 19 180
----------------------------------------------------------------
Total deferred credits 0 0 0 19 180
----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $7,696 $64,076 $31,969
================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Texas
Mission Mission South Bay Property
Nexus II, L.P. Ontario Inc. Company Holdings, Inc.
======================================================================================================
ASSETS (inactive) (inactive)
======================================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
----------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
----------------------------------------------------------
Total utility plant
----------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $5,692
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 750
Investments in leveraged leases
Other investments
----------------------------------------------------------
Total other property and investments 5,692 0 0 750
----------------------------------------------------------
Cash and equivalents 7 15
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (750)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 20
----------------------------------------------------------
Total current assets 27 0 0 (735)
----------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 100
----------------------------------------------------------
Total deferred charges 100 0
----------------------------------------------------------
TOTAL ASSETS $5,819 $0 $0 $15
==========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Texas
Mission Mission South Bay Property
Nexus II, L.P. Ontario Inc. Company Holdings, Inc.
======================================================================================================
CAPITALIZATION AND LIABILITIES (inactive) (inactive)
======================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $5,716 $32
Retained earnings (343) (14)
----------------------------------------------------------
5,373 0 0 18
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------------
Total capitalization 5,373 0 0 18
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable
Accrued taxes 20 (3)
Accrued interest 171
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 255
----------------------------------------------------------
Total current liabilities 446 0 0 (3)
----------------------------------------------------------
Accumulated deferred income taxes - net (0)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
----------------------------------------------------------
Total deferred credits 0 0 0 (0)
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $5,819 $0 $0 $15
==========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Realco
Ontario Texas Master Mission
Lakeshore Limited Land Consolidating
Partners, L.P. Partnership Company Adjustments
===================================================================================================
ASSETS
===================================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
-------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
-------------------------------------------------------
Total utility plant
-------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $21,532 $49,662 $67,552 $1,801
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 179,784 (181,209)
Investments in leveraged leases
Other investments
-------------------------------------------------------
Total other property and investments 21,532 49,662 247,336 (179,408)
-------------------------------------------------------
Cash and equivalents 338 998 12,394 0
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 70 125 23,733 (54,818)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 149 1,526 242
-------------------------------------------------------
Total current assets 557 2,649 36,369 (54,818)
-------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2,228 277 14,869 248
-------------------------------------------------------
Total deferred charges 2,228 277 14,869 248
-------------------------------------------------------
TOTAL ASSETS $24,317 $52,588 $298,574 ($233,978)
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Realco
Ontario Texas Master Mission
Lakeshore Limited Land Consolidating
Partners, L.P. Partnership Company Adjustments
===================================================================================================
CAPITALIZATION AND LIABILITIES
===================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $3,133 $11,679 $171,379 ($219,038)
Retained earnings (1,360) (1,085) 44,245 30,868
-------------------------------------------------------
1,773 10,594 215,624 (188,170)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 6,843 (7,750)
-------------------------------------------------------
Total capitalization 8,616 10,594 215,624 (195,920)
-------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 15,300 38,591 (12,187)
Short-term debt 55,000
Accounts payable 40 1,322 28,934 (37,266)
Accrued taxes 86 1,018 (772) 1,079
Accrued interest 73 615 619 (153)
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 86 0 335 (101)
-------------------------------------------------------
Total current liabilities 15,585 41,546 84,116 (48,628)
-------------------------------------------------------
Accumulated deferred income taxes - net (3,055) 1,883
Accumulated deferred investment tax credits
Customer advances and other deferred credits 116 448 1,889 8,687
-------------------------------------------------------
Total deferred credits 116 448 (1,166) 10,570
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $24,317 $52,588 $298,574 ($233,978)
=======================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Land
Company
Consolidated
========================================================
ASSETS
========================================================
<S> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------
Construction work in progress
Nuclear fuel, at amortized cost
------------
Total utility plant
------------
Nonutility property - net of accumulated
provision for depreciation $452,153
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 2,194
Investments in leveraged leases
Other investments
------------
Total other property and investments 454,347
------------
Cash and equivalents 15,950
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 7,388
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 3,695
------------
Total current assets 27,033
------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 34,871
------------
Total deferred charges 34,871
------------
TOTAL ASSETS $516,251
============
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Land
Company
Consolidated
========================================================
CAPITALIZATION AND LIABILITIES
========================================================
<S> <C>
Common shareholders' equity:
Common stock $162,408
Retained earnings 58,741
------------
221,149
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 40,204
------------
Total capitalization 261,353
------------
Other long-term liabilities
------------
Current portion of long-term
debt and redeemable preferred stock 173,794
Short-term debt 55,000
Accounts payable 2,716
Accrued taxes 4,246
Accrued interest 4,784
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 811
------------
Total current liabilities 241,351
------------
Accumulated deferred income taxes - net (0)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 13,547
------------
Total deferred credits 13,547
------------
TOTAL CAPITALIZATION AND LIABILITIES $516,251
============
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern
Investment CA Commerce Carol Carol
Company Calabasas Center Point Point
Consolidated Palatino Inc. North, L.P. Builders I Builders II
===========================================================================================================
(inactive)
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $926 $15,858 $2,930
------------------------------------------------------------------
Total operating revenue 926 0 0 15,858 2,930
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 9 14 12,893 2,916
Maintenance 23 32
Depreciation and decommissioning 396 25
Income taxes 96
Property and other taxes 2 305 88 14
------------------------------------------------------------------
Total operating expenses 107 0 319 13,400 2,987
------------------------------------------------------------------
Operating income 819 0 (319) 2,458 (57)
------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net (1,252) 1 3 1
------------------------------------------------------------------
Total other income (deductions) - net (1,252) 0 1 3 1
------------------------------------------------------------------
Income before interest and other expenses (433) 0 (318) 2,461 (56)
------------------------------------------------------------------
Interest on long-term debt 1,773 28
Other interest expense 348
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
------------------------------------------------------------------
Total interest and other expenses - net 1,773 348 28
------------------------------------------------------------------
NET INCOME ($433) $0 ($2,091) $2,113 ($84)
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Carol Irwindale Lusk-Mission
Stream Centrelake Corona Land Industrial
Developers Partners, L.P. Partners, L.P. Company Partners I
===========================================================================================================
(inactive)
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $106 $1,207 $523
------------------------------------------------------------------
Total operating revenue 106 0 1,207 0 523
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 510 721 367 542
Maintenance 26 0 157
Depreciation and decommissioning 64 2 354
Income taxes 0 0
Property and other taxes 512 131 154 1,968
------------------------------------------------------------------
Total operating expenses 1,112 854 1,032 0 2,510
------------------------------------------------------------------
Operating income (1,006) (854) 175 0 (1,987)
------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 6 (1) (177) 32
------------------------------------------------------------------
Total other income (deductions) - net 6 (1) (177) 0 32
------------------------------------------------------------------
Income before interest and other expenses (1,000) (855) (2) 0 (1,955)
------------------------------------------------------------------
Interest on long-term debt 394 0 2,035
Other interest expense 656 678
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
------------------------------------------------------------------
Total interest and other expenses - net 656 394 678 0 2,035
------------------------------------------------------------------
NET INCOME ($1,656) ($1,249) ($680) $0 ($3,990)
==================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Ontario Comstock
Airport Park Airport Mission Crosser Mission
Dvlp. Co. Ind. Park CCH I, L.P Hickey DAI I, L.P.
=====================================================================================================
(inactive)
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $1,285 $25,726 $679
------------------------------------------------------------
Total operating revenue 1,285 0 25,726 679 0
------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 735 10 22,820 424
Maintenance 56 77 133
Depreciation and decommissioning 189 590 199
Income taxes 14 0
Property and other taxes 179 45 158 735
------------------------------------------------------------
Total operating expenses 1,173 55 23,645 1,491 0
------------------------------------------------------------
Operating income 112 (55) 2,081 (812) 0
------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 382 2 (168)
------------------------------------------------------------
Total other income (deductions) - net 382 0 2 (168) 0
------------------------------------------------------------
Income before interest and other expenses 494 (55) 2,083 (980) 0
------------------------------------------------------------
Interest on long-term debt 1,199 2,940
Other interest expense 4
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
------------------------------------------------------------
Total interest and other expenses - net 0 0 1,199 2,944 0
------------------------------------------------------------
NET INCOME $494 ($55) $884 ($3,924) $0
============================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial Mission
Contractors, Mission Messenger Mission Mission
Inc. Koll I, L.P. Vacaville Nexus I, L.P. Nexus II, L.P.
============================================================================================================
(inactive)
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $2,086 $4,262
-------------------------------------------------------------------
Total operating revenue 0 0 2,086 4,262 0
-------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 20 1,660 504 7
Maintenance 5 131 75 0
Depreciation and decommissioning 542 923
Income taxes 0
Property and other taxes 177 754 385 20
-------------------------------------------------------------------
Total operating expenses 0 202 3,087 1,887 27
-------------------------------------------------------------------
Operating income 0 (202) (1,001) 2,375 (27)
-------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 0 34 18
-------------------------------------------------------------------
Total other income (deductions) - net 0 0 34 18 0
-------------------------------------------------------------------
Income before interest and other expenses 0 (202) (967) 2,393 (27)
-------------------------------------------------------------------
Interest on long-term debt 71 3,188 316
Other interest expense 4 2,437
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------------------------------------------
Total interest and other expenses - net 0 75 3,188 2,437 316
-------------------------------------------------------------------
NET INCOME $0 ($277) ($4,155) ($44) ($343)
===================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Realco
Mission Mission Texas Ontario Texas Master
Mission South Bay Property Lakeshore Limited
Ontario Inc. Company Holdings, Inc. Partners, L.P. Partnership
============================================================================================================
(inactive) (inactive)
<S> <C> <C> <C> <C> <C>
Electric revenue
Diversified operations $2,618 $42,906
-------------------------------------------------------------------
Total operating revenue 0 0 0 2,618 42,906
-------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 31 962 35,815
Maintenance 274 1,169
Depreciation and decommissioning 1,188 1,126
Income taxes (1) 0
Property and other taxes 196 1,514
-------------------------------------------------------------------
Total operating expenses 0 0 30 2,620 39,624
-------------------------------------------------------------------
Operating income 0 0 (30) (2) 3,282
-------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 17 (1) 3
-------------------------------------------------------------------
Total other income (deductions) - net 0 0 17 (1) 3
-------------------------------------------------------------------
Income before interest and other expenses 0 0 (13) (3) 3,285
-------------------------------------------------------------------
Interest on long-term debt 1,358 2,829
Other interest expense 1,542
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
-------------------------------------------------------------------
Total interest and other expenses - net 0 0 0 1,358 4,371
-------------------------------------------------------------------
NET INCOME $0 $0 ($13) ($1,361) ($1,086)
===================================================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Land
Land Consolidating Company
Company Adjustments Consolidated
=================================================================================
<S> <C> <C> <C>
Electric revenue
Diversified operations ($5,390) $44,911 $140,633
----------------------------------------
Total operating revenue (5,390) 44,911 140,633
----------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 7,944 32,567 121,471
Maintenance 248 49 2,455
Depreciation and decommissioning 1,477 897 7,972
Income taxes (743) (634)
Property and other taxes 1,502 3,976 12,815
----------------------------------------
Total operating expenses 10,428 37,489 144,079
----------------------------------------
Operating income (15,818) 7,422 (3,446)
----------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net 11,985 5,983 16,868
----------------------------------------
Total other income (deductions) - net 11,985 5,983 16,868
----------------------------------------
Income before interest and other expenses (3,833) 13,405 13,422
----------------------------------------
Interest on long-term debt 4,443 20,574
Other interest expense 2,515 (75) 8,109
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
----------------------------------------
Total interest and other expenses - net 2,515 4,368 28,683
----------------------------------------
NET INCOME ($6,348) $9,037 ($15,261)
========================================
</TABLE>
<PAGE>
<PAGE>
Mission Land Company and Subsidiaries
Equity Investments
December 31, 1993
<TABLE>
<CAPTION>
Associated
Southern Mission Mission Mission Mission
Investment Land Land Land Land
Company Company Company Company Company
=======================================================================================================
=======================================================================================================
<S> <C> <C> <C> <C> <C>
Name of Entity: Calabasas
Central Mission- Mission- 701 Parkway
Valley Dominion Shea Minnesota Business Centre
Partners, Ltd.
Ownership Interest: 39.5% 0.0% 50.0% 55.0% 10.0%
Nature/Purpose of Business: (a) (b) (c) (d)
Ownership Interest (000) in:
Assets $3,544,732 $0 $2,090,329 $240,803 $0
Revenues 1,294,873 $0 4,840,293 6,359,416 $0
Net Income 92,348 $0 (578,988) 4,138,236 $0
</TABLE>
NOTE: Values shown are at Mission's % interest.
(a) To acquire, hold, purchase, lease, sell, exchange, subdivide, improve,
design, construct operate, supervise and manage real and personal
property at Calabasas Park.
(b) To develop and sell condominiums in Culver City, California.
Investment in Dominion has been written off and Mission is involved
in litigation with both partner and
(c) To develop and sell single-family homes in Escondido Heights,
California. Investment in Mission-Shea has been fully reserved.
(d) To develop an existing building into atrium-style residential
lofts in San Francisco, California.
(e) To develop industrial lots for sale in Poway, California.
<PAGE>
<PAGE>
Associated Southern Investment Co. and Sub.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Associated Southern
Calabasas Southern Investment
Park Company Investment Consolidating Company
Inc. Company Adjustments Consolidated
====================================================================================================
ASSETS (Inactive)
====================================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
------------------------------------------------------
Total utility plant
------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation 4 $4
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,053 1,053
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 1,057 1,057
------------------------------------------------------
Cash and equivalents 139 139
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1,489 1,489
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1 1
------------------------------------------------------
Total current assets 1,629 1,629
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges
------------------------------------------------------
Total deferred charges
------------------------------------------------------
TOTAL ASSETS $2,686 $2,686
======================================================
</TABLE>
<PAGE>
<PAGE>
Associated Southern Investment Co. and Sub.
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Associated Southern
Calabasas Southern Investment
Park Company Investment Consolidating Company
Inc. Company Adjustments Consolidated
====================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
====================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $1,240 $1,240
Retained earnings (912) (912)
------------------------------------------------------
328 328
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 328 328
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 775 775
Accrued taxes 79 79
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 854 854
------------------------------------------------------
Accumulated deferred income taxes - net 1,504 1,504
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 1,504 1,504
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $2,686 $2,686
======================================================
</TABLE>
<PAGE>
<PAGE>
Associated Southern Investment Co. and Sub.
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Associated Southern
Calabasas Southern Investment
Park Company Investment Consolidating Company
Inc. Company Adjustments Consolidated
=================================================================================================
(Inactive)
<S> <C> <C> <C> <C>
Electric revenue
Diversified operations $926 $926
---------------------------------------------------
Total operating revenue 926 926
---------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 9 9
Maintenance
Depreciation and decommissioning
Income taxes 96 96
Property and other taxes 2 2
---------------------------------------------------
Total operating expenses 107 107
---------------------------------------------------
Operating income 819 819
---------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net (1,252) (1,252)
---------------------------------------------------
Total other income (deductions) - net (1,252) (1,252)
---------------------------------------------------
Income before interest and other expenses (433) (433)
---------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
---------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------
NET INCOME ($433) ($433)
===================================================
</TABLE>
<PAGE>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern Mission Power Mission Power
Engineering Engineering Consolidating Engineering Co
Company Company Adjustments Consolidated
===========================================================================================================
ASSETS (Inactive)
===========================================================================================================
<S> <C> <C> <C> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
---------------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized cost
---------------------------------------------------------
Total utility plant
---------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $1,952 $1,952
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------------
Total other property and investments 1,952 1,952
---------------------------------------------------------
Cash and equivalents 0
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 838 838
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
---------------------------------------------------------
Total current assets 838 838
---------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3,423 3,423
---------------------------------------------------------
Total deferred charges 3,423 3,423
---------------------------------------------------------
TOTAL ASSETS $6,213 $0 $6,213
=========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern Mission Power Mission Power
Engineering Engineering Consolidating Engineering Co
Company Company Adjustments Consolidated
===========================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
===========================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $3,000 $3,000
Retained earnings (9,567) (9,567)
---------------------------------------------------------
(6,567) (6,567)
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 4,595 4,595
---------------------------------------------------------
Total capitalization (1,972) (1,972)
---------------------------------------------------------
Other long-term liabilities
---------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 3,402 3,402
Accrued taxes 282 282
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
---------------------------------------------------------
Total current liabilities 3,684 3,684
---------------------------------------------------------
Accumulated deferred income taxes - net 2,207 2,207
Accumulated deferred investment tax credits
Customer advances and other deferred credits 2,294 2,294
---------------------------------------------------------
Total deferred credits 4,501 4,501
---------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $6,213 $0 $6,213
=========================================================
</TABLE>
<PAGE>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern Mission Power Mission Power
Engineering Engineering Consolidating Engineering Co
Company Company Adjustments Consolidated
===========================================================================================================
<S> <C> <C> <C> <C>
Electric revenue (Inactive)
Diversified operations
---------------------------------------------------------
Total operating revenue
---------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $6,831 $6,831
Maintenance
Depreciation and decommissioning
Income taxes (2,802) (2,802)
Property and other taxes 21 21
---------------------------------------------------------
Total operating expenses 4,050 4,050
---------------------------------------------------------
Operating income (4,050) (4,050)
---------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Other nonoperating income - net (10,936) (10,936)
---------------------------------------------------------
Total other income (deductions) - net (10,936) (10,936)
---------------------------------------------------------
Income before interest and other expenses (14,986) (14,986)
---------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred stock
---------------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------------
NET INCOME ($14,986) $0 ($14,986)
=========================================================
</TABLE>
<PAGE>
<PAGE>
EXHIBIT B
FINANCIAL DATA SCHEDULE
The following is provided for SCEcorp on a consolidated basis:
<TABLE>
<CAPTION>
Item No. Caption Heading Amount
- -------- --------------- ------
<S> <C> <C>
1 Total Assets $21,378,542,000
2 Total Operating Revenues $7,821,077,000
3 Net Income $639,048,000
</TABLE>
<PAGE>
<PAGE>
EXHIBIT C
EXEMPT WHOLESALE GENERATORS (EWGs):
- -----------------------------------
4.1 COMMONWEALTH ATLANTIC LIMITED PARTNERSHIP
SCEcorp
The Mission Group
Mission Energy Company
Hanover Energy Company
Chickahominy River Energy Corp.
Commonwealth Atlantic Limited Partnership
4.2 NEVADA SUN-PEAK LIMITED PARTNERSHIP
SCEcorp
The Mission Group
Mission Energy Company
Quartz Peak Energy Company
Nevada Sun-Peak Limited Partnership
4.3 CROWN ENERGY, L.P. (not operational)
SCEcorp
The Mission Group
Mission Energy Company
Arrowhead Energy Company
Crown Energy, L.P.
4.4 VISTA ENERGY, L.P. (not operational)
SCEcorp
The Mission Group
Mission Energy Company
Vista Energy Company
Vista Energy, L.P.
FOREIGN UTILITY COMPANIES:
- --------------------------
4.5 LOY YANG B JOINT VENTURE
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Latrobe Power Pty Ltd
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
<PAGE>
<PAGE>
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Australia Pty Ltd
Latrobe Power Partnership
Loy Yang B Joint Venture
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty. Ltd.
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
4.6 COMPANIA MEDITERRANEA DE ENERGIAS, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V.
Compania Mediterranea de Energias, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Hydro Energy B.V.
Compania Mediterranea de Energias, S.A.
<PAGE>
<PAGE>
4.7 ELECTRA LA MELLA, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Electra La Mella, S.A.
4.8 ELECTROMETALURGICA DEL EBRO, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Electrometalurgica del Ebro, S.A.
4.9 HIDROELECTRICA DEL CADAGUA, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica del Cadagua, S.A.
4.10 HIDROELECTRICA DE CASILLAS, S.A. (not operational)
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica de Casillas, S.A.
4.11 HIDROELECTRICA DE OLVERA, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica de Olvera, S.A.
4.12 HIDROELECTRICA DE POSADAS, S.A. (not operational)
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica de Posadas, S.A.
<PAGE>
<PAGE>
4.13 HIDROELECTRICA DEL SOSSIS, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica del Sossis, S.A.
4.14 IBERICA DE ENERGIAS, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V.
Iberica de Energias, S.A.
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Hydro Energy B.V.
Iberica de Energias, S.A.
4.15 LAKELAND POWER LIMITED
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Pride Hold Ltd.
Lakeland Power Limited
4.16 DERWENT COGENERATION LIMITED (not operational)
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Mission Energy Company (UK) Limited
Derwent Cogeneration Limited
