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File No. 69-344
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
FORM U-3A-2
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:
01 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. Its
subsidiaries have the same principal place of business as Southern
California Edison Company:
02 CALIFORNIA ELECTRIC POWER COMPANY is an inactive California
corporation that remains from a 1964 merger with Edison.
02 CONSERVATION FINANCING CORPORATION is an inactive California
corporation that was originally formed to carry out residential
conservation financing programs.
02 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.
02 MONO POWER COMPANY is an inactive California corporation that
has been engaged in the business of exploring for and developing
fuel resources.
03 THE BEAR CREEK URANIUM COMPANY is an inactive California
partnership between Mono Power Company (50%) and Union
Pacific Resources (50%) that has been engaged in reclamation
of an integrated uranium mining and milling complex in
Wyoming.
02 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.
02 SOUTHERN STATES REALTY is a California corporation engaged in
providing real estate brokerage and consulting services to Edison
and third parties.
01 THE MISSION GROUP is a California corporation having its principal
place of business at 18101 Von Karman Avenue, Suite 1700, Irvine,
California 92715, which was organized to own the stock and coordinate
the activities of nonutility companies. The subsidiaries of The
Mission Group are as follows:
02 MISSION ENERGY COMPANY is a California corporation having its
principal place of business at 18101 Von Karman Avenue, Suite
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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. The subsidiaries and partnerships
of Mission Energy Company are listed below. Unless otherwise
indicated, all entities are corporations, are organized under the
laws of the State of California and have the same principal place
of business as Mission Energy Company.
03 Aguila Energy Company (LP)
04 American Bituminous Power Partners, L.P. (Delaware limited
partnership) 49.5%; 50% with Pleasant Valley
05 American Kiln Partners, L.P. (Delaware limited partnership)
03 Anacapa Energy Company (GP)
04 Salinas River Cogeneration Company (partnership) 50%
03 Anacostia Energy Company (D.C. corporation) (inactive)
03 Arrowhead Energy Company
04 Crown Energy, L.P. (New Jersey partnership) [see 4.3] 57%
05 Crown Vista Urban Renewal Corporation (New Jersey corporation)
50%; 100% with Vista Energy
03 Balboa Energy Company (GP)
04 Smithtown Cogeneration, L.P. (Delaware partnership) 50%; 100%
w/Kingspark
03 Bergen Point Energy Company (GP)
04 TEVCO/Mission Bayonne Partnership (Delaware general partnership)
50%
03 Blue Ridge Energy Company (GP)
04 Bretton Woods Cogeneration, L.P. (Delaware limited partnership)
50%; 100% w/Bretton Woods
03 BN Geothermal Inc. (Delaware corporation)
04 Vulcan/BN Geothermal Power Company (Nevada general partnership)
50%
03 Bretton Woods Energy Company (GP & LP)
04 Bretton Woods Cogeneration, L.P. (Delaware limited partnership)
50%; 100% w/Blue Ridge
03 Camino Energy Company (GP)
04 Watson Cogeneration Company (general partnership) 49%
03 Capistrano Cogeneration Company (GP)
04 James River Cogeneration Company (North Carolina partnership) 50%
03 Capitol Energy Company (D.C. corporation) (inactive)
03 Centerport Energy Company (GP & LP)
04 Riverhead Cogeneration I, L.P. (Delaware partnership) 50%; 100%
w/Ridgecrest
03 Chesapeake Bay Energy Company (formerly Woodland Energy Company)
(GP)
04 Delaware Clean Energy Project (Delaware general partnership) 50%
03 Chester Energy Company (no partnership; option Chesapeake,VA)
03 Clayville Energy Company
04 Oconee Energy, L.P. (Delaware limited partnership) 50%; 100%
w/Coronado
03 Colonial Energy Company (formerly Hentland Energy Company)
(inactive)
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03 Conejo Energy Company (GP & LP)
04 Del Ranch (Andy Hoch), L.P. (partnership) 50%
03 Coronado Energy Company
04 Oconee Energy, L.P. (Delaware limited partnership) 50%; 100%
w/Clayville
03 Crescent Valley Energy Company (GP)
04 Beowawe Geothermal Power Company (general partnership) 50%
03 Crystal River Energy -- (SOLD)
03 Del Mar Energy Company (GP)
04 Mid-Set Cogeneration Company (partnership) 50%
03 Delaware Energy Conservers, Inc. (Delaware corporation) (inactive)
03 Desert Sunrise Energy Company (Nevada corporation) (inactive)
03 Devereaux Energy Company (LP)
04 Auburndale Power Partners, Limited Partnership (Delaware limited
partnership) 49%; 50% w/El Dorado
03 Eastern Sierra Energy Company (GP & LP)
04 Saguaro Power Company, A Limited Partnership (partnership) 50%
03 East Maine Energy Company (inactive)
03 El Dorado Energy Company (GP)
04 Auburndale Power Partners, Limited Partnership (Delaware limited
partnership) 1%; 50% w/ Devereaux
03 EMP, Inc. (Oregon corporation) (GP & LP)
04 GEO East Mesa Limited Partnership (partnership) 50%
05 GEO East Mesa Electric Co. (Nevada corporation) (McCabe Plant)
100%
03 Four Counties Gas Company (inactive)
03 Hanover Energy Company
04 Chickahominy River Energy Corp. (Virginia corporation) (GP & LP)
05 Commonwealth Atlantic Limited Partnership (Delaware
partnership) [see 4.1] 50%
03 Holtsville Energy Company (GP & LP) (formerly Brookhaven Energy
Company)
04 Brookhaven Cogeneration, L.P. (Delaware partnership) 50%; 100%
w/Madera
03 Indian Bay Energy Company (GP & LP)
04 Riverhead Cogeneration III, L.P. (Delaware partnership) 50%; 100%
w/Santa Ana
03 Jefferson Energy Company (GP & LP) (inactive)
03 Kings Canyon Energy Company (inactive)
03 Kingspark Energy Company (GP & LP)
04 Smithtown Cogeneration, L.P. (Delaware partnership) 50%; 100%
w/Balboa
03 Laguna Energy Company (inactive) (former interest in Ambit)
03 La Jolla Energy Company (inactive) (used for Belridge)
03 Lake Grove Energy Company (former Mid-County subsidiary) (inactive)
03 Lakeview Energy Company
04 Georgia Peakers, L.P. (Delaware limited partnership) 50%; 100%
w/Silver Springs
03 Lehigh River Energy Company (GP)
04 TEVCO/Mission Assets Partnership (Delaware general partnership)
50%
05 Continental Energy Associates, Limited Partnership
(Massachusetts partnership) 22.5%
03 Longview Cogeneration Company (formerly Columbia River Cogeneration
Company, formerly Cabrillo Energy Company) (held for Weyerhauser)
03 Madera Energy Company (GP)
04 Brookhaven Cogeneration, L.P. (Delaware partnership) 50%; 100%
w/Holtsville
03 Madison Energy Company (formerly Sunshine Generators, Inc.) (LP)
04 Gordonsville Energy, L.P. (Delaware partnership) [see 4.5] 49%;
50% w/Rapidan
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03 MEC International B.V. (Netherlands corporation) (Holding Company)
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
04 Asia Power Development Company (Cayman Island) (Meizhou Wan,
Ningbo and Nanhai Projects) 99%SH
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 0923
05 Mission China Holdings Company (Cayman Island) (Meizhou Wan
Project)
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 0923
05 Mission Ningbo Holdings Company (Cayman Island) (Ningbo
Project)
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 0923
04 Hydro Energy B.V. (Netherlands company) (formerly Continfin
Management B.V.) (equity) 10%
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
05 Compania Mediterranea de Energias, S.A. (Spain corporation)
(equity) [see 4.7]
Address: Fortuny, 45, 28010 Madrid, Spain
05 Energias Hidraulicas, S.A. (Spain corporation) (equity)
Address: Princesa 3, Madrid, Spain
05 Iberica de Energias, S.A. (Spain corporation) (equity) [see
4.15]
Address: Fortuny, 45, 28010 Madrid, Spain
04 Iberian Hy-Power Amsterdam B.V. (Netherlands company) (equity)
34%SH
Address: Strawinskylaan 1725, Amsterdam, NOORD-HOLL 1077 XX
05 Electra La Mella, S.A. (Spain corporation) (equity) [see 4.8]
70%
Address: Ercilla, 26-6o Centro, 48011 Bilbao, Spain
05 Electrometalurgica del Ebro, S.A. ("Emesa") (Spain
corporation) (equity) [see 4.9] 80.1%
Address: Av. Roma 40-42, Barcelona and Ercilla,
26-6o Centro, 48011 Bilbao, Spain
05 Hidroelectrica del Cadagua, S.A. (Spain corporation) (equity)
[see 4.10] 75%
Address: Ercilla, 26-6o Centro, 48011 Bilbao, Spain
05 Hidroelectrica de Casillas, S.A. (Spain corporation) (equity)
[see 4.11] 49%
Address: Av. Ramon & Cajal, 10-B, Sevilla, Spain
05 Hidroelectrica de Olvera, S.A. (Spain corporation) (equity)
[see 4.12] 66%
Address: Ercilla, 26-6o Centro, 48011 Bilbao, Spain
05 Hidroelectrica de Posadas, S.A. (Spain corporation) (equity)
[see 4.13] 100%
Address: Urbanizacion Las Canteras II,
Municipio de Camas, Sevilla, Spain
05 Hidroelectrica del Sossis, S.A. (Spain corporation) (equity)
[see 4.14] 100%
Address: Ercilla, 26-6o Centro, 48011 Bilbao, Spain
05 Hydro Energy B.V. (Netherlands company) (equity) 90%
06 Compania Mediterranea de Energias, S.A. (Spain corporation)
(equity) [see 4.7]
06 Energias Hidraulicas, S.A. (Spain corporation) (equity)
06 Iberica de Energias, S.A. (Spain corporation) (equity) [see
4.15]
04 Latrobe Power Pty. Ltd. (Australian corporation) 50%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
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05 Mission Victoria Partnership (Australian partnership) 52.3%
(100% w/ Traralgon PPL 46.69% and MEVALP 1%)
06 Latrobe Power Partnership (Australian partnership) 42%
07 Loy Yang B Joint Venture (Australian joint venture) [see
4.6] 51%; 49% to outside partner
04 Loy Yang Holdings Pty. Ltd. (Australian corporation) 100%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
05 Latrobe Power Pty. Ltd. (Australian corporation) 50%
06 Mission Victoria Partnership (Australian partnership)
07 Latrobe Power Partnership (Australian partnership)
08 Loy Yang B Joint Venture (Australian joint venture)
[see 4.6]
05 Mission Energy Australia Ltd. (Australian public company)
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
06 Latrobe Power Partnership (Australian partnership) 58%
07 Loy Yang B Joint Venture (Australian joint venture) [see
4.6]
05 Mission Energy Ventures Australia Pty. Ltd. (Australian
company)
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
06 Mission Victoria Partnership (Australian partnership) 1%
07 Latrobe Power Partnership (Australian partnership)
08 Loy Yang B Joint Venture (Australian joint venture)
[see 4.6]
05 Traralgon Power Pty. Ltd. (Australian corporation) 50%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
06 Mission Victoria Partnership (Australian partnership) 46.7%
07 Latrobe Power Partnership (Australian partnership)
08 Loy Yang B Joint Venture (Australian joint venture)
[see 4.6]
04 MEC Esenyurt B.V. (Netherlands company) (Doga Project) 99%SH
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
04 MEC India B.V. (Netherlands company) (Jojobera Project) 99%SH
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
04 MEC Indonesia B.V. (Netherlands company) 99%
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
05 P. T. Paiton Energy Company (Indonesia company) (equity)
(Paiton Project) 32.5%
04 MEC International Holdings B.V. (Netherlands corporation) 100%SH
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
05 Asia Power Development Company (Cayman Island) (Meizhou Wan,
Ningbo and Nanhai Projects) 1%SH
06 Mission China Holdings Company (Cayman Island) (Meizhou Wan
Project)
06 Mission Ningbo Holdings Company (Cayman Island) (Ningbo
Project)
05 MEC Esenyurt B.V. (Netherlands company) (Doga Project) 1%SH
05 MEC India B.V. (Netherlands company) (Jojobera Project) 1%SH
06 Mission Energy Jojobera (Mauritius) (Jojobera Project
company)
05 MEC Indonesia B.V. (Netherlands company) 1%
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06 P. T. Paiton Energy Company (Indonesia company) (equity)
(Paiton Project)
05 MEC ISE B.V. (Netherlands company) (Ilva Project) 1%SH
05 MEC Laguna Power B.V. (Netherlands company) (Malaya Project)
1%SH
05 MEC Perth B.V. (Netherlands company) (Kwinana Project) 1%SH
05 MEC Priolo B.V. (Netherlands company) (ISAB Project) 1%SH
06 ISAB Energy, s.r.l. (equity) 49%
05 Mission Ningbo Holdings Company (Cayman Island) (Ningbo
Project) 1%
04 MEC ISE B.V. (Netherlands company) (Ilva Project) 99%SH
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
04 MEC Laguna Power B.V. (Netherlands company) (Malaya Project)
99%SH
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
04 MEC Perth B.V. (Netherlands company) (Kwinana Project) 99%SH
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
04 MEC Priolo B.V. (Netherlands company) (ISAB Project) 99%SH
Address: Croeselaan 18, P.O. Box 2790,
3500 GT Utrecht, The Netherlands
05 ISAB Energy, s.r.l. (equity)
04 Mission Energy Asia Pte Ltd. (Singapore private company limited
by shares) 100%
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 0923
04 Mission Energy Company (UK) Limited (United Kingdom private
limited company) 100%
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
05 Derwent Cogeneration Limited (United Kingdom private limited
company) (equity) [see 4.17] 33%
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
05 Mission Energy Limited (United Kingdom private limited
company)
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
05 Mission Energy Services Limited (United Kingdom private
limited company)
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
05 Mission (No. 2) Limited (United Kingdom private limited
company) (formerly Mowlem Power Ltd.)
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
05 Pride Hold Limited (United Kingdom corporation) 99%
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
06 Lakeland Power Limited (United Kingdom private company) [see
4.16] 80%SH
Address: Roosecote Power Station, Barrow-In-Furness,
Cumbria LA13 OPR England
06 Lakeland Power Development Company (United Kingdom
corporation) 100%
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
04 Mission Energy Holdings Pty. Ltd. (Australian corporation) 100%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
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05 Mission Energy Development Australia Pty. Ltd. (Australian
corporation)
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
05 Mission Energy Management Australia Pty. Ltd. (Australian
corporation)
Address: P.O. Box 1792, Traralgon, Victoria 3844, Australia
05 Mission Energy Holdings Superannuation Fund Pty Ltd.
(retirement fund required by Australia law) 100%
04 Pride Hold Limited (United Kingdom corporation) 1%
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
05 Lakeland Power Limited (United Kingdom private company) [see
4.16]
Address: Roosecote Power Station, Barrow-In-Furness,
Cumbria LA13 OPR England
05 Lakeland Power Development Company (United Kingdom
corporation)
Address: Lansdowne House, Berkeley Square,
London W1X5DH England
04 Traralgon Power Pty. Ltd. (Australian corporation) 50%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
05 Mission Victoria Partnership (Australian partnership) 46.7%
06 Latrobe Power Partnership (Australian partnership)
07 Loy Yang B Joint Venture (Australian joint venture) [see
4.6]
03 Mission Capital (Delaware Limited Partnership) 3%; MIPS partnership
03 Mission Energy Asia (formerly Cypress Energy Company) Representative
office in Singapore [will be renamed Cypress Energy Company]
03 Mission Energy Canada Corporation (British Columbia company)
04 B.C. Star Partners (British Columbia partnership) 50%
04 The Mission Interface Partnership (Province of Ontario general
partnership) 50%
03 Mission Energy Fuel Company
04 Mission Energy Methane Company (11-45% interest McKenzie coalbed
methane)
04 Mission Energy Oil and Gas Company
05 Four Star Oil & Gas Company (partnership) 40%
04 Mission Energy Petroleum Company (Gas contracts w/ Tex. Gas Mktg)
04 Pocono Fuels Company (inactive)
04 Southern Sierra Gas Company
05 TM Star Fuel Company (general partnership) 50%
03 Mission Energy Holdings, Inc.
04 Mission Capital (Delaware Limited Partnership) 97%; MIPS ptnrshp
03 Mission Energy Indonesia (formerly Chula Energy Company)
Representative office in Jakarta, Indonesia
03 Mission Energy Mexico (inactive) Representative office in Mexico (no
partnership)
03 Mission Energy New York, Inc. (formerly Allegheny Energy Company)
(GP & LP)
04 Brooklyn Navy Yard Cogeneration Partners, L.P. (Delaware
partnership) 50%
03 Mission Energy Westside, Inc. (formerly Sun Coast Energy Company)
03 Mission Operations de Mexico, S.A. de C.V. (inactive) 5%
03 Mission Operation and Maintenance, Incorporated (no partnership)
04 Mission Operations de Mexico, S.A. de C.V. (inactive) 95%
03 Mission Triple Cycle Systems Company (GP)
04 Triple Cycle Partnership (Texas General Partnership) 50%
03 Niguel Energy Company (GP & LP)
04 Elmore, Ltd. (partnership) 50%
03 North Jackson Energy Company (inactive) [held for Akso Salt Proj]
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03 Northern Sierra Energy Company (GP)
04 Sobel Cogeneration Company (general partnership) 50%
03 Ortega Energy Company (no partnership/Mid-County Cogen gas
contracts)
03 Otter Point Energy Company (Maryland corporation) (inactive)
03 Panther Timber Company (GP)
04 American Kiln Partners, Limited Partnership (Delaware limited
partnership) 2%
03 Patapsco Energy Company (inactive) [used for LAP Cogeneration]
03 Pleasant Valley Energy Company (GP)
04 American Bituminous Power Partners, L.P. (Delaware limited
partnership) 0.5%; 50% w/Aguila
05 American Kiln Partners, L.P. (Delaware Limited Partnership)
03 Prince George Energy Company (LP)
04 Hopewell Cogeneration Limited Partnership (Delaware limited
partnership) 24.75%
04 Hopewell Cogeneration Inc. (Delaware corporation) 25%
05 Hopewell Cogeneration Limited Partnership (Delaware limited
partnership) 1%
03 Quartz Peak Energy Company (LP)
04 Nevada Sun-Peak Limited Partnership (Nevada partnership) [see
4.2] 50%
03 Rapidan Energy Company (GP)
04 Gordonsville Energy, L.P. (Delaware partnership) [see 4.5] 1%;
50% w/Madison
03 Reeves Bay Energy Company (GP & LP)
04 North Shore Energy L.P. (Delaware partnership) 50%; 100% w/Santa
Clara
05 Northville Energy Corporation (New York corporation) 100%
03 Ridgecrest Energy Company (GP)
04 Riverhead Cogeneration I, L.P. (Delaware partnership) 50%; 100%
w/Centerport
03 Rio Escondido Energy Company
04 Energia Del Norte, S.A. de C.V. (partnership) 49%
03 Riverport Energy Company (GP & LP)
04 Riverhead Cogeneration II, L.P. (Delaware partnership) 50%; 100%
w/San Pedro
03 San Felipe Energy Company (GP & LP)
04 Leathers, L.P. (partnership) 50%
03 San Gabriel Energy Company (inactive) (McKenzie gas contracts)
03 San Jacinto Energy Company (inactive) (used for Belridge)
03 San Joaquin Energy Company (GP)
04 Midway-Sunset Cogeneration Company, L.P. (partnership) 50%
03 San Juan Energy Company (GP)
04 March Point Cogeneration Company (partnership) 50%
03 San Pedro Energy Company (GP)
04 Riverhead Cogeneration II, L.P. (Delaware partnership) 50%; 100%
w/Riverport
03 Santa Ana Energy Company (GP)
04 Riverhead Cogeneration III, L.P. (Delaware partnership) 50%; 100%
w/Indian Bay
03 Santa Clara Energy Company (GP)
04 North Shore Energy, L.P. (Delaware partnership) 50%; 100%
w/Reeves Bay
05 Northville Energy Corporation (New York corporation) 100%
03 Silverado Energy Company (GP)
04 Coalinga Cogeneration Company (partnership) 50%
03 Silver Springs Energy Company
04 Georgia Peakers, L.P. (Delaware limited partnership) 50%; 100%
w/Lakeview
03 Sonoma Geothermal Company (GP & LP)
04 Geothermal Energy Partners Ltd. (partnership) (Aidlin) 50%GP=5%LP
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03 South Coast Energy Company (GP)
04 Harbor Cogeneration Company (partnership) 30%
03 Southern Sierra Energy Company (GP)
04 Kern River Cogeneration Company (general partnership) 50%
03 Viejo Energy Company (GP)
04 Sargent Canyon Cogeneration Company (partnership) 50%
03 Vista Energy Company (New Jersey corporation) (GP & LP)
04 Vista Energy, L.P. (New Jersey limited partnership) [see 4.4] 57%
05 Crown Vista Urban Renewal Corporation (New Jersey corporation)
50%; 100% w/Crown Energy
03 Western Sierra Energy Company (GP)
04 Sycamore Cogeneration Company (general partnership) 50%
03 Winters Run Energy Company (Maryland corporation) (inactive)
02 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 and has interests in various partnerships
through its subsidiaries. The subsidiaries and partnerships of
Mission First Financial are listed below. Unless otherwise
indicated, all entities are corporations, are organized under the
laws of the State of California, and have the same principal place
of business as Mission First Financial.
03 Mission Funding Company
04 Mission Integrated Energy Services
04 Mission Funding Gamma
04 Mission Funding Epsilon
05 Mission Funding Delta
06 Mission Funding Nu
07 EPZ Mission Funding Nu Trust (interest in foreign utility
company) [see 4.19]
05 Mission Investments, Inc. (U.S. Virgin Islands corporation)
Address: ABN Trustcompany, Guardian Building,
Havensight, 2nd Floor
St. Thomas, U.S. Virgin Islands
05 Mission Funding Alpha
06 Mission Funding Mu
07 EPZ Mission Funding Mu Trust (interest in foreign utility
company) [see 4.18]
05 Mission (Bermuda) Investments, Ltd. (Bermuda corporation)
Address: Clarendon House, 2 Church Street
Hamilton HM CX, Bermuda
05 GEM Energy Company (New York partnership)
04 Mission Funding Beta
04 Mission Funding Theta
04 Mission Funding Kappa
05 ABB Funding Partners, L.P. (partnership)
04 Mission Housing Investments
05 Abby Associates L.P. (Windmere) (partnership) 1%
05 AE Associates L.P. (Avenida Espana) (partnership) 99%
05 Antelope Associates L.P. (partnership) (commitment)
05 Argyle Redevelopment Partnership, Ltd. (Colorado partnership)
99%
05 Avalon Courtyard L.P. (Carson Senior Housing) (partnership) 1%
05 Baker Park Associates L.P. (partnership) (commitment)
05 Bartlett Hill Associates L.P. (partnership) 99%
05 Bracher Associates L.P. (partnership) (commitment)
05 Berry Avenue Associates L.P. (partnership) 1%
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05 Carlton Way Apartments L.P. (partnership) 1%
05 Casa del Rio L.P. (Antioch) (partnership) 1%
05 Catalonia Associates L.P. (partnership) (commitment)
05 Centertown Associates L.P. (partnership) 99%
05 Centro Partners L.P. (El Centro) (partnership) 99%
05 Colina Vista L.P. (partnership) (commitment)
05 Corona Ely/Ranch Associates L.P. (partnership) 1%
05 Coyote Springs Apartments Associates L.P. (partnership) 99%
05 Cypress Cove Associates (partnership) 99%
05 Delta Plaza Apartments (partnership) 99%
05 EAH Larkspur Creekside Associates L.P. (partnership) 99%
05 East Cotati Avenue Partners L.P. (partnership) 99%
05 Edmundson Associates L.P. (Willows) (partnership) 99%
05 Fairview Village Associates L.P. (partnership) 1%
05 Farm (The) Associates L.P. (partnership) 99%
05 Fell Street Housing Associates L.P. (partnership) 1%
05 Florin Woods Associates L.P. (partnership) (commitment)
05 Gilroy Redwood Associates L.P. (Redwoods) (partnership) 99%
05 Ginzton Associates L.P. (partnership) 99%
05 Good Samaritan Associates L.P. (partnership) (commitment)
05 Grossman Apartments Investors L.P. (partnership) 99%
05 Heather Glen Associates L.P. (partnership) 99%
05 Hollywood El Centro L.P. (partnership) 1%
05 Holy Family Associates L.P. (partnership) 99%
05 Hope West Apartments L.P. (partnership) 1%
05 Kennedy Lofts Associates L.P. (Massachusetts partnership) 97%
05 La Brea/Franklin L.P. (partnership) 1%
05 Larkin Pine L.P. (partnership) 1%
05 La Terraza Associates L.P. (Carlsbad Villas at Camino Real)
(partnership) (commitment)
05 Lavell Village Associates L.P. (partnership)
05 MH I Limited Partnership (partnership) 1%
06 California Park Apartments L.P. (partnership) 99%
05 MH II Limited Partnership (partnership) 1%
06 5363 Dent Avenue Associates L.P. (partnership) 99%
05 MH III Limited Partnership (partnership) 1%
06 DeRose Housing Associates L.P. (partnership) 99%
05 MH IV Limited Partnership (partnership) 1%
06 MPT Apartments L.P. (MacArthur Park) (partnership) 99%
05 MH V Limited Partnership (partnership) 1%
06 Centennial Place L.P. (partnership) 99%
05 Mar Associates L.P. (partnership) 99%
05 Mayacamas Village Associates L.P. (partnership) 1%
05 Mercy Housing California III L.P. (3rd & Reed) (partnership)
1%
05 Mercy Housing California IV L.P. (Vista Grande) (partnership)
(commitment)
05 MHI Development Fund
05 MHIFED 94 Company
06 MHIFED 94 Limited Partnership (Delaware partnership) 66%
07 Berry Avenue Associates L.P. (partnership) 66%
07 Carlton Way Apartments L.P. (partnership) 66%
07 Casa del Rio L.P. (Antioch) (partnership) 66%
07 Corona Ely/Ranch Associates L.P. (partnership) 66%
07 Fairview Village Associates L.P. (partnership) 66%
07 Fell Street Housing Associates L.P. (partnership) 66%
07 Hope West Apartments L.P. (partnership) 66%
07 Morrone Gardens Associates L.P. (partnership) 66%
07 Pajaro Court Associates L.P. (partnership) 66%
07 Tierra Linda Associates L.P. (partnership) 66%
07 Tlaquepaque Housing Associates L.P. (partnership) 66%
05 MHICAL 94 Company
<PAGE 11>
<PAGE>
06 MHICAL 94 Limited Partnership (Delaware partnership)
07 Mayacamas Village Associates L.P. (partnership) 99%
07 Rincon De Los Esteros Associates L.P. (partnership) 99%
07 West Capital Courtyard Limited Partnership (partnership)
99%
07 Winfield Hill Associates L.P. (partnership) 99%
05 MHIFED 95 Company
06 MHIFED 95 Limited Partnership (Delaware partnership) 39.6%
07 Avalon Courtyard L.P. (Carson Senior Housing)
(partnership) 39.6%
07 Hollywood El Centro L.P. (partnership) 39.6%
07 La Brea/Franklin L.P. (partnership) 39.6%
07 Larkin Pine L.P. (partnership) 39.6%
07 Mercy Housing California III L.P. (3rd & Reed)
(partnership) 39.6%
07 Pinole Grove Associates Limited Partnership (partnership)
39.6%
07 Second Street Center L.P. (Santa Monica) (partnership)
39.6%
07 Solinas Village Partners L.P. (partnership) (commitment)
39.6%
07 Three Oaks Housing L.P. (partnership) (commitment) 39.6%
07 1101 Howard Street Associates L.P. (partnership) 39.6%
05 MHICAL 95 Company
06 MHICAL 95 Limited Partnership (Delaware partnership)
07 Abby Associates L.P. (Windmere) (partnership) 99%
05 MHIFED 95B Company
06 MHIFED 95B Limited Partnership (Delaware partnership)
05 MHIFED 95C Company
06 MHIFED 95C Limited Partnership (Delaware partnership)
07 Oceanside Gardens Limited Partnership (commitment)
05 MHIFED 96A Company
06 MHIFED 96A Limited Partnership (Delaware partnership)
05 Mid-Peninsula Century Village Associates L.P. (Century
Village) (partnership) (commitment)
05 Mid-Peninsula Sharmon Palms Associates L.P. (Sharmon Palms)
(partnership) 99%
05 Mission Capp L.P. (partnership) 99%
05 Mission Housing Alpha
06 Lee Park Investors L.P. (Pennsylvania partnership) 99%
05 Mission Housing Beta
06 Richmond City Center Associates L.P. (partnership) 99%
05 Mission Housing Gamma
06 Del Carlo Court Associates L.P. (partnership) 99%
05 Mission Housing Delta
06 MH I (partnership) 99%
07 California Park Apartments L.P. (partnership)
06 MH II (partnership) 99%
07 5363 Dent Avenue Associates L.P. (partnership)
06 MH III (partnership) 99%
07 DeRose Housing Associates L.P. (partnership)
06 MH IV (partnership) 99%
07 MPT Apartments L.P. (MacArthur Park) (partnership)
06 MH V (partnership) 99%
07 Centennial Place L.P. (partnership)
05 Mission Housing Epsilon
06 Riverside/Liebrandt Partners L.P. (La Playa) (partnership)
99%
05 Mission Housing Zeta
06 Fremont Building Limited Partnership (Crescent Arms)
(partnership) 99%
05 Mission Housing Theta
<PAGE 12>
<PAGE>
06 Mission Housing Investors Partnership 5%GP
07 Forest Winds Associates L.P. (partnership) 5%
07 Glen Eden Associates L.P. (partnership) 5%
07 Gray's Meadows Investors L.P. (partnership) 5%
07 Prince Bozzuto L.P. (Fairground Commons) (Maryland
partnership) 5%
07 Rancho Park Associates L.P. (partnership) 5%
07 Rustic Gardens Associates L.P. (partnership) 5%
07 Sea Ranch Apartments L.P. (partnership) 5%
07 Springdale Kresson Associates L.P. (Jewish Federation)
(New Jersey partnership) 5%
07 1028 Howard Street Associates L.P. (partnership) 5%
05 Morrone Gardens Associates L.P. (partnership) 1%
05 Neary Lagoon Partners L.P. (partnership) 99%
05 North Town Housing Partners L.P. (Villa del Norte Village)
(partnership) (commitment)
05 Oceanside Gardens Limited Partnership (commitment) 1%
05 Open Doors Associates L.P. (West Valley) (partnership) 99%
05 Pajaro Court Associates L.P. (partnership) 1%
05 Palmer House L.P. (partnership) 99%
05 Park Place Terrace L.P. (partnership) (commitment) 99%
05 Pilot Grove L.P. (Massachusetts partnership) 99%
05 Pinmore Associates L.P. (partnership) (commitment)
05 Pinole Grove Associates Limited Partnership (partnership) 1%
05 Post Office Plaza L.P. (Ohio partnership) 99%
05 Rincon De Los Esteros Associates L.P. (partnership) 1%
05 Rosebloom Associates L.P. (Oakshade) (partnership) 99%
05 San Pablo Senior Housing Associates L.P. (partnership) 99%
05 San Pedro Gardens Associates L.P. (partnership) 99%
05 Santa Paulan Senior Apartments Associates L.P.(partnership)
99%
05 Second Street Center L.P. (Santa Monica) (partnership) 1%
05 Solinas Village Partners L.P. (partnership) (commitment) 1%
05 South Beach Housing Associates L.P. (Steamboat) (partnership)
99%
05 Stoney Creek Associates L.P. (partnership) 99%
05 Studebaker Building L.P. (partnership) 99%
05 Sultana Acres Associates L.P. (partnership) 99%
05 Sunset Creek Partners L.P. (partnership) (commitment)
05 Tabor Grand L.P. (Colorado partnership) 99%
05 The Josephinum Associates L.P. (Washington partnership) 99%
05 Tierra Linda Associates L.P. (partnership) 1%
05 Three Oaks Housing L.P. (partnership) (commitment) 1%
05 Tlaquepaque Housing Associates L.P. (partnership) 1%
05 Tuscany Associates L.P. (Tuscany Villa) (partnership) 99%
05 Washington Creek Associates L.P. (partnership) 99%
05 West Capital Courtyard Limited Partnership (partnership) 1%
05 Westport Village Homes Associates L.P. (partnership) 99%
05 Wheeler Manor Associates L.P. (partnership) 99%
05 Winfield Hill Associates L.P. (partnership) 1%
05 YWCA Villa Nueva Partners L.P. (partnership) 99%
05 16th & Church Street Associates L.P. (partnership) 99%
05 1101 Howard Street Associates L.P. (partnership) 1%
05 210 Washington Avenue Associates (Renaissance Plaza)
(Connecticut partnership) 99%
04 Mission First Asset Investment
04 Mission Funding Zeta
05 Huntington L.P. (New York partnership) 50%
03 Renewable Energy Capital Company
03 Burlington Apartments, Inc.
04 Burlington Arboretum L.P. (partnership) 94.6%
<PAGE 13>
<PAGE>
02 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. The
subsidiaries and partnerships of Mission Land Company are listed
below. Unless otherwise indicated, all entities are corporations,
are organized under the laws of the State of California, and have
the same principal place of business as Mission Land Company.
03 Associated Southern Investment Company
04 Calabasas Park Company (partnership) (inactive) 79%GP
05 Central Valley/Calabasas L.P. (limited partnership) [in
dissolution] 50%LP
03 Calabasas Palatino, Inc.
04 Central Valley/Calabasas L.P. (limited partnership) [in
dissolution] 50%GP
03 CCC-North (partnership) (inactive) 50%GP
03 Carol Stream Developers General Partnership (Illinois partnership)
60%GP
03 Centrelake Partners, L.P. (limited partnership) 98%GP
03 Corona Partners Limited Partnership (limited partnership) 99%LP
03 Irwindale Land Company
04 Mission-Koll I (limited partnership) 4%GP
03 Lusk-Mission Industrial Partners I (partnership) 50%GP
03 Mission Airport Park Development Co.
04 Carol Stream Developers General Partnership (Illinois
partnership) 40%GP
04 Centrelake Partners, L.P. (limited partnership) 2%LP
04 Corona Partners Limited Partnership (limited partnership) 1%GP
04 Mission-Nexus I, L.P. (limited partnership) 56%GP
04 Mission-Nexus II, L.P. (limited partnership) 50%GP
04 Mission Vacaville Limited Partnership (limited partnership)
(formerly Mission-Messenger Vacaville G.P.) 1%GP
04 Ontario Airport Industrial Park (partnership) 51%GP
03 Mission-CCH I (limited partnership) 60%LP
03 Mission-DAI I, L.P. (limited partnership) (inactive) (equity) 60%LP
03 Mission-Dominion Partners I, L.P. (limited partnership) (equity)
60%LP
03 Mission Industrial Constructors, Inc. (inactive)
03 Mission-Koll I (limited partnership) 96%LP
03 Mission-Nexus I, L.P. (limited partnership) 44%LP
03 Mission-Nexus II, L.P. (limited partnership) 50%LP
03 Mission-Oceangate (partnership) (formerly Mission Comstock Crosser
Hickey) 75%GP
03 Mission/Ontario, Inc.
03 Mission Shea I, L.P. (limited partnership) (equity) 50%LP
03 Mission South Bay Company (inactive)
04 Mission-CCH I (limited partnership) 40%GP
04 Mission-Oceangate (partnership) (formerly Mission Comstock,
Crosser Hickey G.P.) 25%GP
03 Mission Texas Property Holdings, Inc.
04 Realco Texas Master Limited Partnership (Texas partnership) 1%GP
04 Realco Bend, Ltd. (Texas Partnership) 1%GP
04 Realco Brook, Ltd. (Texas Partnership) 1%GP
04 Realco Crossing, Ltd. (Texas Partnership) 1%GP
04 Realco Green, Ltd. (Texas Partnership) 1%GP
04 Realco Lake, Ltd. (Texas Partnership) 1%GP
04 Realco Landing, Ltd. (Texas Partnership) 1%GP
04 Realco Meadows, Ltd. (Texas Partnership) 1%GP
04 Realco Oaks, Ltd. (Texas Partnership) 1%GP
04 Realco Pointe, Ltd. (Louisiana Partnership) 1%GP
<PAGE 14>
<PAGE>
04 Realco Villas, Ltd. (Texas Partnership) 1%GP
03 Mission Vacaville Limited Partnership (limited partnership)
(formerly Mission-Messenger Vacaville G.P.) 99%LP
03 Mission-701 Minnesota (limited partnership) (equity) 55%LP
03 Ontario Lakeshore Partners, L.P. (limited partnership) 75%GP
03 Parkway Business Centre Partners, Ltd. (limited partnership)
(equity) (inactive) 30%LP
03 Realco Texas Master Limited Partnership (Texas partnership) 99%LP
04 Realco Bend, Ltd. (Texas Partnership) 99%LP
04 Realco Brook, Ltd. (Texas Partnership) 99%LP
04 Realco Crossing, Ltd. (Texas Partnership) 99%LP
04 Realco Green, Ltd. (Texas Partnership) 99%LP
04 Realco Lake, Ltd. (Texas Partnership) 99%LP
04 Realco Landing, Ltd. (Texas Partnership) 99%LP
04 Realco Meadows, Ltd. (Texas Partnership) 99%LP
04 Realco Oaks, Ltd. (Texas Partnership) 99%LP
04 Realco Pointe, Ltd. (Louisiana Partnership) 99%LP
04 Realco Villas, Ltd. (Texas Partnership) 99%LP
02 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. The subsidiaries of Mission Power Engineering Company are
listed below. Unless otherwise indicated, all entities are
corporations, are organized under the laws of the State of
California, and have the same principal place of business as
Mission Power Engineering Company.
03 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 Corners Project, a coal-fueled steam electric generating plant in
New Mexico; all of which are operated by other utilities. Edison
<PAGE 15>
<PAGE>
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: 12,261
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 61,424 pole miles of
overhead lines and 28,528 miles of underground lines, and 506
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: 77,985,856,000 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: 1,682,832,830 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: 3,842,615,400 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 16>
<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 natural 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.
(d) Capitalization or total equity = $14,000,000
Net income after taxes for 1994 = $796,682
(e) There are no contracts between CALP and any system company.
<PAGE 17>
<PAGE>
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 transmission 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 = $1,147,371
(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 1998.
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 1998.
<PAGE 18>
<PAGE>
4.5 Gordonsville Energy, L.P.
(a) Gordonsville Energy, L.P.
115 Red Hill Road
Gordonsville, VA 22942
Gordonsville Energy ("GELP") is a gas fired cogeneration
facility with the anticipated net capacity during the winter
months of 290 megawatts and 220 megawatts during the summer
months. The electricity generated by the facility will be
sold to Virginia Electric & Power Company under two executed
30-year Power Purchase Agreements. The steam generated by
the facility is sold to Rapidan Service Authority. This
facility is located one mile southwest of Gordonsville,
Virginia in Louisa County.
GELP went into operation on June 1, 1994.
(b) SCEcorp's wholly owned subsidiary The Mission Group owns 100%
of Mission Energy Company, which through its subsidiaries
Madison Energy Company ("Madison") and Rapidan Energy Company
("Rapidan") owns 49% (LP) and 1% (GP) respectively in GELP.
(c) Madison made a capital contribution of $25,823,000 and
Rapidan made a capital contribution of $527,000, providing a
total amount of $26,350,000. As a condition to receiving the
extension of credit necessary to develop GELP, Madison,
Rapidan and Jefferson Energy Company ("Jefferson"), a wholly
owned subsidiary of Mission Energy Company which sold its
interest to Northern Hydro Limited, entered into separate
Equity Subscription Agreements with GELP with the condition
that Mission Energy Company guaranty the obligations under
such agreements by entering into an Equity Subscription
Agreement Guaranty for each of Madison, Rapidan and Jefferson
in an amount not to exceed an aggregate of $55,250,000.
(d) Capitalization or total equity = $26,350,000
Net income after taxes = $452,216
(e) Mission Operation and Maintenance, Inc. ("MOMI") operates
this facility. MOMI received $1,774,316.64 in compensation
as operator in 1994.
FOREIGN UTILITY COMPANIES:
- - - - --------------------------
4.6 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 units 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 in late 1996.
(b) SCEcorp owns 100% of The Mission Group; The Mission Group
owns 100% of Mission Energy Company, which owns 100% of MEC
<PAGE 19>
<PAGE>
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 1% owned by
Mission Energy Australia Ltd (the managing general partner)
and 99% owned by Mission Victoria Partnership (a general
partner).
Mission Energy Australia 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
owned 50% by MEC International B.V. and 50% by Loy Yang
Holdings Pty Ltd. 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$282,701,140
Guarantees
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.
<PAGE 20>
<PAGE>
3. 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. At financial close this obligation was
estimated as US$220,100,000. In December 1994
(prior to completion of construction) the
equivalent amount was subscribed by the LPP
partners, effectively reducing Mission Energy's
contingent obligations.
(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.
(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.
(d) LPP's Net Loss for 1994 = (US$6,100,299 pre tax)
LPP's Equity = US$270,827,846
(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 1994, Mission Energy Management Australia Pty Ltd was paid
as follows:
Management Fee -- US$1,312,959
Operator Incentive -- US$862,846
<PAGE 21>
<PAGE>
4.7 COMPANIA MEDITERRANEA DE ENERGIAS, S.A.
(a) Compania Mediterranea de Energias, S.A. ("Mediterranea")
Fortuny, 45
28010 Madrid, Spain
Mediterranea's facilities consist of the following five
mini-hydroelectric facilities which are capable of producing
a total of 22.25 MW:
1. Mendavia is a 5.60 MW facility located in Mendavia,
Navarra
2. La Ribera is a 4.40 MW facility located in Pradejon, La
Rioja
3. Gelsa is a 7.20 MW facility located in Gelsa, Zaragoza
4. Alos is a 2.80 MW facility located in Alos de Balaguer,
Lerida
5. 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 and its direct ownership interest in Hydro
Energy B.V., acquired an aggregate 40.6% interest in Energias
Hidraulicas, S.A. ("EH") from Energies, S.A., the
hydroelectric development subsidiary of Compagne Generale des
Eaux ("CGE"). Subsequently, EH sold Iberica and Mediterranea
to Hydro Energy B.V. CGE is a French water utility company.
EH is a Spanish holding company which will develop water
right concessions, but has no operating facilities.
In connection with the acquisition of EH, CGE provided to
Iberica and Mediterranea a 10-year limited revenue guaranty,
which allowed Iberica and Mediterranea to secure non-recourse
project financing. Consideration to CGE for the acquisition
of Iberica and Mediterranea 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,
1994, the present value of the deferred payments will amount
to $15.8 million ($42.9 million face value discounted at
11.5%).
(d) Capitalization or total equity = $3,547,000 (estimated)
Net Income after taxes for 1994 = $254,000 (estimated)
<PAGE 22>
<PAGE>
(e) There are no contracts between Mediterranea and any system
company.
4.8 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 = $13,000 (estimated)
Net Income after taxes for 1994 = $4,000 (estimated)
(e) There are no contracts between La Mella and any system
company.
4.9 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 I, Sastago II and Menza) 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 = $1,401,000 (estimated)
Net Income after taxes for 1994 = $388,000 (estimated)
(e) There are no contracts between EMESA and any system company.
<PAGE 23>
<PAGE>
4.10 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
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 75% of Cadagua.
(c) The capital contribution made by MECI through Iberian Hy-
Power Amsterdam B.V. was $425,485.
(d) Capitalization or total equity = $459,000 (estimated)
Net Loss after taxes for 1994 = ($8,000) (estimated)
(e) There are no contracts between Cadagua and any system
company.
4.11 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.
4.12 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 66% of Olvera.
(c) The capital contribution made by MECI through Iberian Hy-
Power Amsterdam B.V. was $74,695.
(d) Capitalization or total equity = ($7,000) (estimated)
Net Income after taxes for 1994 = $7,000 (estimated)
(e) There are no contracts between Olvera and any system company.
<PAGE 24>
<PAGE>
4.13 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.
4.14 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 100% of Sossis.
(c) The capital contribution made by MECI through Iberian Hy-
Power Amsterdam B.V. was $253,546.
(d) Capitalization or total equity = $389,000 (estimated)
Net Income after taxes for 1994 = $170,000 (estimated)
(e) There are no contracts between Sossis and any system company.
4.15 IBERICA DE ENERGIAS, S.A.
(a) Iberica de Energias, S.A. ("Iberica")
Fortuny, 45
28010 Madrid, Spain
Iberica's facilities consist of the following eight
mini-hydroelectric facilities which are capable of producing
a total of 18.57 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
<PAGE 25>
<PAGE>
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
8. Logrono is a 3.65 MW facility located in Logrono, La
Rioja
(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.
(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 and its direct
ownership interest in Hydro Energy B.V., acquired an
aggregate 40.6% interest in Energias Hidraulicas, S.A. ("EH")
from Energies, S.A., the hydroelectric development subsidiary
of Compagne Generale des Eaux ("CGE"). Subsequently, EH sold
Iberica and Mediterranea to Hydro Energy B.V. CGE is a
French water utility company. EH is a Spanish holding
company which will develop water right concessions, but has
no operating facilities.
In connection with the acquisition of EH, CGE provided to
Iberica and Mediterranea a 10-year limited revenue guaranty,
which allowed Iberica and Mediterranea to secure non-recourse
project financing. Consideration to CGE for the acquisition
of Iberica and Mediterranea 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,
1994, the present value of the deferred payments will amount
to $15.8 million ($42.9 million face value discounted at
11.5%).
(d) Capitalization or total equity = $7,307,000 (estimated)
Net Income after taxes for 1994 = $170,000 (estimated)
(e) There are no contracts between Iberica and any system
company.
4.16 LAKELAND POWER LIMITED
(a) Lakeland Power Limited
Roosecote Power Station
Barrow-in-Furness
Cumbria, England LA13 OPR
Lakeland's facilities consist of a 220 MW gas fired combined
cycle electricity generation plant.
<PAGE 26>
<PAGE>
(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 99% of Pride Hold Limited and MECI owns 1%.
Pride Hold Limited owns 80% of Lakeland Power Limited. Pride
Hold Limited owns 100% of Lakeland Power Development Company.
(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.
(d) Capitalization or total equity = US$8,081,887.
Net income after taxes for 1994 = US$3,833,981.
(e) There are no contracts between Lakeland and any system
company.
4.17 DERWENT COGENERATION LIMITED (not operational)
(a) Derwent Cogeneration Limited
Lansdowne House, Berkeley Square
London W1X5DH England
The 214 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.
4.18 EPZ MISSION FUNDING MU TRUST
(a) EPZ Mission Funding MU Trust ("EPZMFMT")
c/o Wilmington Trust Company
Rodney Square North, 1100 North Market Square
Wilmington, Delaware 19890-0004
EPZMFMT owns a 7.88% interest in the Amercentrale Power
Station Unit 9, which is leased to N.V. Elektriciteits-
Produktiemaatshappij Zuid-Nederland ("EPZ"), a Netherlands
Public Utility. The Amercentrale Power Station Unit 9 is a
600 megawatt (net) coal-fired cogeneration facility, with
natural gas back-up capability, located on 50 hectares
(approximately 125 acres) at the Brabandt site in
Geertruidenberg, approximately 50 kilometers southeast of
Rotterdam, The Netherlands.
<PAGE 27>
<PAGE>
EPZMFMT has also acquired an undivided interest in or the
right to use certain transmission facilities leading from the
Amercentrale Power Station to the 150 kV grid owned by
Provinciale Noordbrabantse Energie-Maatschappij ("PNEM"), the
distribution company that receives the power from Unit 9.
EPZMFMT also owns an interest in or rights to use
transformers and associated equipment of EPZ designed to step
up the power from the 21 kV level at the generator to the 150
kV level required to enter the PNEM system. EPZMFMT has also
acquired rights to use certain other common facilities
necessary to permit operation of Unit 9.
(b) SCEcorp owns 100% of The Mission Group; The Mission Group
owns 100% of Mission First Financial, which owns 100% of
Mission Funding Company, which owns 100% of Mission Funding
Epsilon, which owns 100% of Mission Funding Alpha, which owns
100% of Mission Funding Mu. EPZMFMT is a business trust
created under the laws of the State of Delaware. Mission
Funding Mu is the 100% beneficial owner of the beneficial
interest in EPZMFMT. Wilmington Trust Company is the trustee
of the Trust.
(c) Mission Funding Mu made a $13,000,000 equity investment in
the sale/leaseback, and funds were borrowed on a non-recourse
basis in the amount of $87,000,000, in order to acquire the
interest in the asset with a total cost of $100,000,000.
Mission Funding Mu also incurred out-of-pocket costs and fees
of approximately $1,750,000.
The Mission Funding Mu investment and the related obligations
have been guaranteed by its parent, Mission Funding Alpha.
(d) Capitalization or total equity = $13,000,000
Net income after taxes = $417,547
(e) There are no contracts between EPZ and any system company.
4.19 EPZ MISSION FUNDING NU TRUST
(a) EPZ Mission Funding Nu Trust ("EPZMFNT")
c/o Wilimington Trust Company
Rodney Square North, 1100 North Market Square
Wilmington, Delaware 19890-0004
EPZMFNT owns a 17.72% interest in the Amercentrale Power
Station Unit 9, which is leased to N.V. Elektriciteits-
Produktiemaatshappij Zuid-Nederland ("EPZ"), a Netherlands
Public Utility. The Amercentrale Power Station Unit 9 is a
600 megawatt (net) coal-fired cogeneration facility, with
natural gas back-up capability, located on 50 hectares
(approximately 125 acres) at the Brabandt site in
Geertruidenberg, approximately 50 kilometers southeast of
Rotterdam, The Netherlands.
EPZMFNT has also acquired an undivided interest in or the
right to use certain transmission facilities leading from the
Amercentrale Power Station to the 150 kV grid owned by
Provinciale Noordbrabantse Energie-Maatschappij ("PNEM"), the
distribution company that receives the power from Unit 9.
EPZMFNT also owns an interest in or rights to use
transformers and associated equipment of EPZ designed to step
<PAGE 28>
<PAGE>
up the power from the 21 kV level at the generator to the 150
kV level required to enter the PNEM system. EPZMFNT has also
acquired rights to use certain other common facilities
necessary to permit operation of Unit 9.
(b) SCEcorp owns 100% of The Mission Group; The Mission Group
owns 100% of Mission First Financial, which owns 100% of
Mission Funding Company, which owns 100% of Mission Funding
Epsilon, which owns 100% of Mission Funding Delta, which owns
100% of Mission Funding Nu. EPZMFNT is a business trust
created under the laws of the State of Delaware. Mission
Funding Nu is the 100% beneficial owner of the beneficial
interest in EPZMFNT. Wilmington Trust Company is the trustee
of the Trust.
(c) Mission Funding Nu made a $29,250,000 equity investment in
the sale/leaseback, and funds were borrowed on a non-recourse
basis in the amount of $195,750,000, in order to acquire the
interest in the asset with a total cost of $225,000,000.
Mission Funding Nu also incurred out-of-pocket costs and fees
of approximately $3,937,500.
The Mission Funding Nu investment and the related obligations
have been guaranteed by an affiliate, Mission Housing
Investments.
(d) Capitalization or total equity = $29,250,000
Net income after taxes = $617,772
(e) There are no contracts between EPZ and any system company.
<PAGE 29>
<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 27th day of
February, 1995.
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 30>
<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 31>
<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 32>
<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 21,600
4 Jun. 8, 1925 28,000
----------
TOTAL PLANT 85,150
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 36,000
5 Feb. 24, 1980 36,450
----------
TOTAL PLANT 174,450
</TABLE>
<PAGE 33>
<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 50,000
----------
TOTAL PLANT 100,000
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 1,022,270
----------------------------------
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 6,570
3 Jul. 29, 1907 6,200
4 Jun. 27, 1907 6,570
----------
TOTAL PLANT 25,910
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 34>
<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 250
2 Sep. 15, 1904 250
----------
TOTAL PLANT 500
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 2,340
3 Jun. 12, 1913 2,500
----------
TOTAL PLANT 7,590
</TABLE>
<PAGE 35>
<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 1,985
4 Oct. 1, 1907 1,985
5 1909 1,985
----------
TOTAL PLANT 7,955
Bishop Creek #5 Inyo 1 May 30, 1943 2,000
2 Jun. 1, 1919 2,532
----------
TOTAL PLANT 4,532
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 146,270
-----------------------------------------
TOTAL HYDROELECTRIC PLANTS 1,168,540
- - - - -------------------------- ==========
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): 15,946,778
========================================== ==========
</TABLE>
<PAGE 36>
<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 1,000
12 Jun. 18, 1976 1,550
14 Oct. 24, 1986 1,400
----------
7,575
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: 7,684
- - - - -----------------------------
TOTAL ISOLATED SYSTEMS RESOURCES: 7,684
================================ ==========
</TABLE>
<PAGE 37>
<PAGE>
Attached hereto as Exhibit A are the following financial
statements dated as of December 31, 1994 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. Hanover Energy Company Consolidated Balance Sheet
A.12. Hanover Energy Company Consolidated Income Statement
A.13. MEC International B.V. Consolidating Balance Sheet.
A.14. MEC International B.V. Consolidating Income Statement.
A.15. MEC International B.V. Equity Investments.
A.16. MEC International B.V. Latrobe Power Pty. Ltd. Consolidating
Balance Sheet.
A.17. MEC International B.V. Latrobe Power Pty. Ltd. Consolidating
Income Statement.
A.18. MEC International B.V. Loy Yang Holdings Pty. Ltd. Consolidating
Balance Sheet.
A.19. MEC International B.V. Loy Yang Holdings Pty. Ltd. Consolidating
Income Statement.
A.20. MEC International B.V. Loy Yang Holdings Pty. Ltd. Latrobe Power
Pty. Ltd. Consolidating Balance Sheet.
A.21. MEC International B.V. Loy Yang Holdings Pty. Ltd. Latrobe Power
Pty. Ltd. Consolidating Income Statement.
A.22. MEC International B.V. Loy Yang Holdings Pty. Ltd. Mission
Energy Australia Pty. Ltd. Consolidating Balance Sheet.
A.23. MEC International B.V. Loy Yang Holdings Pty. Ltd. Mission
Energy Australia Pty. Ltd. Consolidating Income Statement.
A.24. MEC International B.V. Loy Yang Holdings Pty. Ltd. Mission
Energy Ventures Australia Pty. Ltd. Consolidating Balance Sheet.
A.25. MEC International B.V. Loy Yang Holdings Pty. Ltd. Mission
Energy Ventures Australia Pty. Ltd. Consolidating Income
Statement.
A.26. MEC International B.V. Traralgon Power Pty. Ltd. Consolidating
Balance Sheet.
A.27. MEC International B.V. Traralgon Power Pty. Ltd. Consolidating
Income Statement.
A.28. MEC International Holdings B.V. Consolidating Balance Sheet.
A.29. MEC International Holdings B.V. Consolidating Income Statement.
A.30. MEC International B.V. MEC I Holdings B.V. Consolidating Balance
Sheet.
A.31. MEC International B.V. MEC I Holdings B.V. Consolidating Income
Statement.
A.32. MEC International B.V. Mission Energy Company (U.K.)
Consolidating Balance Sheet.
A.33. MEC International B.V. Mission Energy Company (U.K.)
Consolidating Income Statement.
A.34. MEC International B.V. Mission Energy Company (U.K.) Pride Hold
Ltd. Consolidating Balance Sheet.
A.35. MEC International B.V. Mission Energy Company (U.K.) Pride Hold
Ltd. Consolidating Income Statement.
<PAGE 38>
<PAGE>
A.36. MEC International B.V. Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet.
A.37. MEC International B.V. Mission Energy Holdings Pty. Ltd.
Consolidating Income Statement.
A.38. MEC International B.V. Pride Hold Ltd. Consolidating Balance
Sheet.
A.39. MEC International B.V. Pride Hold Ltd. Consolidating Income
Statement.
A.40. MEC International B.V. Equity Investments
A.41. Mission Energy Fuel Company Consolidating Balance Sheet
A.42. Mission First Financial and Subsidiaries Consolidating Balance
Sheet.
A.43. Mission First Financial Equity Investments in Real Estate
Limited Partnerships.
A.44. Mission Funding Company and Subsidiaries Consolidating Balance
Sheet.
A.45. Mission Funding Company and Subsidiaries Consolidating Income
Statement.
A.46. Mission Funding Epsilon and Subsidiaries Consolidating Balance
Sheet.
A.47. Mission Funding Epsilon and Subsidiaries Consolidating Income
Statement.
A.48. Mission Housing Investments and Subsidiaries Consolidating
Balance Sheet.
A.49. Mission Housing Investments and Subsidiaries Consolidating
Income Statement.
A.50. Mission Land Company and Subsidiaries Consolidating Balance
Sheet.
A.51. Mission Land Company and Subsidiaries Consolidating Income
Statement.
A.52. Mission Land Company and Subsidiaries Equity Investments.
A.53. Mission Power Engineering Company and Subsidiaries Consolidating
Balance Sheet.
A.54. Mission Power Engineering Company and Subsidiaries Consolidating
Income Statement.
<PAGE 39>
<PAGE>
SCEcorp and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $19,121,964 $19,121,964
Less-accumulated provision for depreciation
and decommissioning 7,710,227 7,710,227
----------------------------------------------------------------
11,411,737 11,411,737
Construction work in progress 906,766 906,766
Nuclear fuel, at amortized cost 98,044 98,044
----------------------------------------------------------------
Total utility plant 12,416,547 12,416,547
----------------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation 77,338 $1,899,731 1,977,069
Nuclear decommissioning trusts 919,351 919,351
Investments in partnerships
and unconsolidated subsidiaries 1,200,927 $6,104,022 ($6,104,022) 1,200,927
Investments in leveraged leases 555,564 555,564
Other investments 39,584 39,584
----------------------------------------------------------------
Total other property and investments 1,036,273 3,656,222 6,104,022 (6,104,022) 4,692,495
----------------------------------------------------------------
Cash and equivalents 192,092 253,535 88,330 533,957
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 902,090 84,249 73,076 (84,351) 975,064
Fuel inventory 116,929 116,929
Materials and supplies, at average cost 129,109 129,109
Accumulated deferred income taxes - net 271,308 271,308
Prepayments and other current assets 98,778 8,770 183 107,731
----------------------------------------------------------------
Total current assets 1,710,306 346,554 161,589 (84,351) 2,134,098
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense 356,557 356,557
Rate phase-in plan 240,730 240,730
Unamortized nuclear plant--net 171,071 171,071
Income tax-related deferred charges 1,816,414 1,816,414
Other deferred charges 327,613 234,722 35,000 (35,000) 562,335
----------------------------------------------------------------
Total deferred charges 2,912,385 234,722 35,000 (35,000) 3,147,107
----------------------------------------------------------------
TOTAL ASSETS $18,075,511 $4,237,498 $6,300,611 ($6,223,373) $22,390,247
================================================================
</TABLE>
<PAGE 40>
<PAGE>
SCEcorp and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $2,345,405 $626,078 $2,691,574 ($2,971,483) $2,691,574
Retained earnings 2,683,568 448,971 3,451,842 (3,132,539) 3,451,842
----------------------------------------------------------------
5,028,973 1,075,049 6,143,416 (6,104,022) 6,143,416
Preferred securities of subsidiaries:
Not subject to mandatory redemption 358,755 87,500 446,255
Subject to mandatory redemption 275,000 275,000
Long-term debt 4,987,978 1,359,210 6,347,188
----------------------------------------------------------------
Total capitalization 10,650,706 2,521,759 6,143,416 (6,104,022) 13,211,859
----------------------------------------------------------------
Other long-term liabilities 311,063 311,063
----------------------------------------------------------------
Current portion of long-term debt 201,275 30,095 231,370
Short-term debt 675,514 90,000 80,000 845,514
Accounts payable 317,082 111,261 (43,012) 27,599 412,930
Accrued taxes 514,441 8,871 6,851 530,163
Accrued interest 87,733 11,392 645 99,770
Dividends payable 115,803 111,950 (111,950) 115,803
Regulatory balancing accounts--net 55,710 55,710
Deferred unbilled revenue and other 779,257 86,618 (117) 865,758
----------------------------------------------------------------
Total current liabilities 2,746,815 338,237 156,317 (84,351) 3,157,018
----------------------------------------------------------------
Accumulated deferred income taxes - net 3,386,775 673,655 (1,058) 4,059,372
Accumulated deferred investment tax credits 399,662 32,603 432,265
Customer advances and other deferred credits 580,490 68,684 1,936 (35,000) 616,110
----------------------------------------------------------------
Total deferred credits 4,366,927 774,942 878 (35,000) 5,107,747
----------------------------------------------------------------
Minority interest 602,560 602,560
----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $18,075,511 $4,237,498 $6,300,611 ($6,223,373) $22,390,247
================================================================
</TABLE>
<PAGE 41>
<PAGE>
SCEcorp and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue $7,798,601 $7,798,601
Diversified operations $546,044 $18,259 ($18,315) 545,988
-----------------------------------------------------------------
Total operating revenue 7,798,601 546,044 18,259 (18,315) 8,344,589
-----------------------------------------------------------------
Fuel 840,607 54,840 895,447
Purchased power 2,562,890 2,562,890
Provisions for regulatory adjustment
clauses - net 54,772 54,772
Other operating expenses 1,315,249 241,911 24,062 (18,315) 1,562,907
Maintenance 330,161 1,806 331,967
Depreciation and decommissioning 890,656 54,574 945,230
Income taxes 507,626 (23,268) (3,706) 480,652
Property and other taxes 202,711 8,626 211,337
-----------------------------------------------------------------
Total operating expenses 6,704,672 338,489 20,356 (18,315) 7,045,202
-----------------------------------------------------------------
Operating income 1,093,929 207,555 (2,097) 1,299,387
-----------------------------------------------------------------
Provision for rate phase-in plan (136,596) (136,596)
Allowance for equity funds used during
construction 14,348 14,348
Interest income 31,082 9,416 418 40,916
Minority interest (45,992) (45,992)
Other nonoperating income - net 64,597 31,978 (302) 96,273
-----------------------------------------------------------------
Total other income (deductions) - net (26,569) (4,598) 116 (31,051)
-----------------------------------------------------------------
Income before interest and other expense 1,067,360 202,957 (1,981) 1,268,336
-----------------------------------------------------------------
Interest on long-term debt 381,827 145,621 527,448
Other interest expense 61,646 14,983 3,559 80,188
Allowance for borrowed funds used during
construction (14,440) (14,440)
Capitalized interest (254) (46,117) (46,371)
Dividends on subsidiary preferred
securities 40,080 744 40,824
-----------------------------------------------------------------
Total interest and other expenses - net 468,859 115,231 3,559 587,649
-----------------------------------------------------------------
NET INCOME $598,501 $87,726 ($5,540) $680,687
=================================================================
</TABLE>
<PAGE 42>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $5 $7,410
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 5 7,410
----------------------------------------------------
Cash and equivalents 1,583 173
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 2,507 (118)
Fuel inventory
Materials and supplies, at average cost 94
Accumulated deferred income taxes - net
Prepayments and other current assets 550
----------------------------------------------------
Total current assets 4,734 55
----------------------------------------------------
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
----------------------------------------------------
TOTAL ASSETS $4,739 $7,465
====================================================
</TABLE>
<PAGE 43>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $19,121,964
Less-accumulated provision for depreciation
and decommissioning 7,710,227
------------------------------------------------------
11,411,737
Construction work in progress 906,766
Nuclear fuel, at amortized cost 98,044
------------------------------------------------------
Total utility plant 12,416,547
------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation $69 69,854
Nuclear decommissioning trusts 919,351
Investments in partnerships
and unconsolidated subsidiaries 1,781 ($1,781)
Investments in leveraged leases
Other investments 39,584
------------------------------------------------------
Total other property and investments 69 1,030,570 (1,781)
------------------------------------------------------
Cash and equivalents $74 611 189,651
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 198,489 134 903,886 (202,808)
Fuel inventory 116,929
Materials and supplies, at average cost 129,015
Accumulated deferred income taxes - net (1) 5 271,304
Prepayments and other current assets 1,379 96,849
------------------------------------------------------
Total current assets 198,562 2,129 1,707,634 (202,808)
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense 601 356,557 (601)
Rate phase-in plan 240,730
Unamortized nuclear plant--net 171,071
Income tax-realted deferred charges 1,816,414
Other deferred charges (7,039) 42 327,571 7,039
------------------------------------------------------
Total deferred charges (6,438) 42 2,912,343 6,438
------------------------------------------------------
TOTAL ASSETS $192,124 $2,240 $18,067,094 ($198,151)
======================================================
</TABLE>
<PAGE 44>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Southern
California
Edison Co.
Consolidated
============================================================
ASSETS
============================================================
<S> <C>
Utility plant, at original cost $19,121,964
Less-accumulated provision for depreciation
and decommissioning 7,710,227
-------------
11,411,737
Construction work in progress 906,766
Nuclear fuel, at amortized cost 98,044
-------------
Total utility plant 12,416,547
-------------
Nonutility property - net of accumulated
provision for depreciation 77,338
Nuclear decommissioning trusts 919,351
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments 39,584
-------------
Total other property and investments 1,036,273
-------------
Cash and equivalents 192,092
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 902,090
Fuel inventory 116,929
Materials and supplies, at average cost 129,109
Accumulated deferred income taxes - net 271,308
Prepayments and other current assets 98,778
-------------
Total current assets 1,710,306
-------------
Unamortized debt issuance and reacquisition
expense 356,557
Rate phase-in plan 240,730
Unamortized nuclear plant--net 171,071
Income tax-realted deferred charges 1,816,414
Other deferred charges 327,613
-------------
Total deferred charges 2,912,385
-------------
TOTAL ASSETS $18,075,511
=============
</TABLE>
<PAGE 45>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 1,444 (2,694)
----------------------------------------------------
1,544 55
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------
Total capitalization 1,544 55
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2,954
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 2,954
----------------------------------------------------
Accumulated deferred income taxes - net 241
Accumulated deferred investment tax credits
Customer advances and other deferred credits 7,410
----------------------------------------------------
Total deferred credits 241 7,410
----------------------------------------------------
Minority interest
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $4,739 $7,465
====================================================
</TABLE>
<PAGE 46>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $2,236 $2,345,405 ($5,205)
Retained earnings (2,173) (1) 2,683,568 3,424
------------------------------------------------------
(2,053) 2,235 5,028,973 (1,781)
Preferred securities:
Not subject to mandatory redemption 358,755
Subject to mandatory redemption 275,000
Long-term debt 193,562 4,987,978 (193,562)
------------------------------------------------------
Total capitalization 191,509 2,235 10,650,706 (195,343)
------------------------------------------------------
Other long-term liabilities 311,063
------------------------------------------------------
Current portion of long-term debt 201,275
Short-term debt 675,514
Accounts payable 6 316,930 (2,808)
Accrued taxes 514,441
Accrued interest 615 87,118
Dividends payable 115,803
Regulatory balancing accounts--net 55,710
Deferred unbilled revenue and other 779,257
------------------------------------------------------
Total current liabilities 615 6 2,746,048 (2,808)
------------------------------------------------------
Accumulated deferred income taxes - net (1) 3,386,535
Accumulated deferred investment tax credits 399,662
Customer advances and other deferred credits 573,080
------------------------------------------------------
Total deferred credits (1) 4,359,277
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $192,124 $2,240 $18,067,094 ($198,151)
======================================================
</TABLE>
<PAGE 47>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Southern
California
Edison Co.
Consolidated
============================================================
CAPITALIZATION AND LIABILITIES
============================================================
<S> <C>
Common shareholders' equity:
Common stock $2,345,405
Retained earnings 2,683,568
-------------
5,028,973
Preferred securities:
Not subject to mandatory redemption 358,755
Subject to mandatory redemption 275,000
Long-term debt 4,987,978
-------------
Total capitalization 10,650,706
-------------
Other long-term liabilities 311,063
-------------
Current portion of long-term debt 201,275
Short-term debt 675,514
Accounts payable 317,082
Accrued taxes 514,441
Accrued interest 87,733
Dividends payable 115,803
Regulatory balancing accounts--net 55,710
Deferred unbilled revenue and other 779,257
-------------
Total current liabilities 2,746,815
-------------
Accumulated deferred income taxes - net 3,386,775
Accumulated deferred investment tax credits 399,662
Customer advances and other deferred credits 580,490
-------------
Total deferred credits 4,366,927
-------------
Minority interest
-------------
TOTAL CAPITALIZATION AND LIABILITIES $18,075,511
=============
</TABLE>
<PAGE 48>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue $6,853 $45
Diversified operations
---------------------------------------------------------
Total operating revenue 6,853 45
---------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 6,591 45 $20
Maintenance
Depreciation and decommissioning
Income taxes 16 (7)
Property and other taxes
---------------------------------------------------------
Total operating expenses 6,607 45 13
---------------------------------------------------------
Operating income 246 (13)
---------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 42 15,552
Minority interest
Other - net (216)
---------------------------------------------------------
Total other income (deductions) - net (174) 15,552
---------------------------------------------------------
Income before interest and other expenses 72 15,539
---------------------------------------------------------
Interest on long-term debt 14,748
Other interest expense 68 804
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on preferred securities
---------------------------------------------------------
Total interest and other expenses - net 68 15,552
---------------------------------------------------------
NET INCOME $4 ($13)
=========================================================
</TABLE>
<PAGE 49>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Southern
Southern Southern California
States California Consolidating Edison Co.
Realty Edison Co. Adjustments Consolidated
=================================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue $2,918 $7,791,448 ($2,663) $7,798,601
Diversified operations
--------------------------------------------------
Total operating revenue 2,918 7,791,448 (2,663) 7,798,601
--------------------------------------------------
Fuel 840,639 (32) 840,607
Purchased power 2,562,890 2,562,890
Provisions for regulatory adjustment
clauses - net 54,772 54,772
Other operating expenses 3,126 1,308,098 (2,631) 1,315,249
Maintenance 330,161 330,161
Depreciation and decommissioning (1) 890,657 890,656
Income taxes 360 507,257 507,626
Property and other taxes 4 202,707 202,711
--------------------------------------------------
Total operating expenses 3,489 6,697,181 (2,663) 6,704,672
--------------------------------------------------
Operating income (571) 1,094,267 1,093,929
--------------------------------------------------
Provision for rate phase-in plan (136,596) (136,596)
Allowance for equity funds used during
construction 14,348 14,348
Interest income 9 31,099 (15,620) 31,082
Minority interest
Other - net (51) 64,864 64,597
--------------------------------------------------
Total other income (deductions) - net (42) (26,285) (15,620) (26,569)
--------------------------------------------------
Income before interest and other expenses (613) 1,067,982 (15,620) 1,067,360
--------------------------------------------------
Interest on long-term debt 381,827 (14,748) 381,827
Other interest expense 61,646 (872) 61,646
Allowance for borrowed funds used during
construction (14,440) (14,440)
Capitalized interest (254) (254)
Dividends on preferred securities 40,080 40,080
--------------------------------------------------
Total interest and other expenses - net 468,859 (15,620) 468,859
--------------------------------------------------
NET INCOME ($613) $599,123 $598,501
==================================================
</TABLE>
<PAGE 50>
<PAGE>
Southern California Edison Company and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Mono Power
Company
========================================================
========================================================
<S> <C>
Name of Entity: Bear Creek
Uranium
Company
Ownership Interest: 50%
Nature/Purpose of Business: (a)
Ownership Interest in (000):
Assets $0
Revenue 0
Net Income 0
</TABLE>
(a) To develop and operate an integrated uranium mining complex in Wyoming.
<PAGE 51>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $1,555,204 $311,460 $1,952 $31,115 $0
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 979,089 224,520
Investments in leveraged leases 555,564
Other investments 1,056,920
---------------------------------------------------------------------
Total other property and investments 2,534,293 311,460 1,952 811,199 1,056,920
---------------------------------------------------------------------
Cash and equivalents 64,145 30,157 159,064 169
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 45,716 11,199 132 27,199 10,757
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 7,417 739 614
----------------------------------------------------------------------
Total current assets 117,278 42,095 132 186,877 10,926
----------------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 191,885 29,152 5,420 10,407 12,691
------------------------------------------------------------------
Total deferred charges 191,885 29,152 5,420 10,407 12,691
------------------------------------------------------------------
TOTAL ASSETS $2,843,456 $382,707 $7,504 $1,008,483 $1,080,537
==================================================================
</TABLE>
<PAGE 52>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $1,899,731
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries ($2,682) 1,200,927
Investments in leveraged leases 555,564
Other investments (1,056,920)
---------------------------
Total other property and investments (1,059,602) 3,656,222
---------------------------
Cash and equivalents 253,535
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (10,754) 84,249
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 8,770
---------------------------
Total current assets (10,754) 346,554
---------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (14,833) 234,722
---------------------------
Total deferred charges (14,833) 234,722
---------------------------
TOTAL ASSETS ($1,085,189) $4,237,498
===========================
</TABLE>
<PAGE 53>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $202,409 $3,000 $80,597 $626,078
Retained earnings 256,521 58,848 (12,334) 117,961 450,402
------------------------------------------------------------------
606,440 261,257 (9,334) 198,558 1,076,480
Preferred securities of subsidiaries:
Not subject to mandatory redemption 87,500
Subject to mandatory redemption
Long-term debt 1,078,224 69,945 211,041
------------------------------------------------------------------
Total capitalization 1,772,164 331,202 (9,334) 409,599 1,076,480
------------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 28,139 1,956
Short-term debt 90,000
Accounts payable 115,249 2,643 617 3,070
Accrued taxes 8,287 584
Accrued interest 10,348 516 528
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 252 717 84,662 987
------------------------------------------------------------------
Total current liabilities 252,275 6,416 85,807 4,057
------------------------------------------------------------------
Accumulated deferred income taxes - net 162,622 5,752 1,534 507,143
Accumulated deferred investment tax credits 32,603
Customer advances and other deferred credits 21,540 38,834 15,304 6,129
------------------------------------------------------------------
Total deferred credits 216,765 44,586 16,838 513,272
------------------------------------------------------------------
Minority interest 602,252 503 (195)
------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $2,843,456 $382,707 $7,504 $1,008,483 $1,080,537
==================================================================
</TABLE>
<PAGE 54>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
The Mission
Consolidating Group
Adjustments Consolidated
=======================================================================
CAPITALIZATION AND LIABILITIES
=======================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock ($635,924) $626,079
Retained earnings (422,428) 448,970
---------------------------
(1,058,352) 1,075,049
Preferred securities of subsidiaries:
Not subject to mandatory redemption 87,500
Subject to mandatory redemption
Long-term debt 1,359,210
---------------------------
Total capitalization (1,058,352) 2,521,759
---------------------------
Other long-term liabilities
---------------------------
Current portion of long-term
debt and redeemable preferred stock 30,095
Short-term debt 90,000
Accounts payable (10,318) 111,261
Accrued taxes 8,871
Accrued interest 11,392
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 86,618
---------------------------
Total current liabilities (10,318) 338,237
---------------------------
Accumulated deferred income taxes - net (3,396) 673,655
Accumulated deferred investment tax credits 32,603
Customer advances and other deferred credits (13,123) 68,684
---------------------------
Total deferred credits (16,519) 774,942
---------------------------
Minority interest 602,560
---------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($1,085,189) $4,237,498
===========================
</TABLE>
<PAGE 55>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue
Diversified operations $380,598 $11,790 $153,440
---------------------------------------------------------------
Total operating revenue 380,598 11,790 153,440
---------------------------------------------------------------
Fuel 54,840
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 102,612 7,314 131,700 51 234
Maintenance 1,806
Depreciation and decommissioning 39,946 7,502 7,125 1
Income taxes 12,294 (33,135) (2,397) (21) (98)
Property and other taxes 2,488 6,138
---------------------------------------------------------------
Total operating expenses 212,180 (18,319) 144,372 30 137
---------------------------------------------------------------
Operating income 168,418 30,109 9,068 (30) (137)
---------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 7,895 219 1,238 64
Minority interest (46,159) 32 135
Other nonoperating income - net 13,917 16,627 1,626 (2,738) (26)
---------------------------------------------------------------
Total other income (deductions) - net (24,347) 16,878 2,999 (2,738) 38
---------------------------------------------------------------
Income before interest and other expenses 144,071 46,987 12,067 (2,768) (99)
---------------------------------------------------------------
Interest on long-term debt 125,922 14,054 5,645
Other interest expense 8,479 189 6,315
Allowance for borrowed funds used during
construction
Capitalized interest (46,117)
Dividends on subsidiary preferred
securities 744
---------------------------------------------------------------
Total interest and other expenses - net 89,028 14,243 11,960
---------------------------------------------------------------
NET INCOME $55,043 $32,744 $107 ($2,768) ($99)
===============================================================
</TABLE>
<PAGE 56>
<PAGE>
The Mission Group and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
The Mission
Consolidating Group
Adjustments Consolidated
===================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $216 $546,044
--------------------------
Total operating revenue 216 546,044
--------------------------
Fuel 54,840
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 241,911
Maintenance 1,806
Depreciation and decommissioning 54,574
Income taxes 89 (23,268)
Property and other taxes 8,626
--------------------------
Total operating expenses 89 338,489
--------------------------
Operating income 127 207,555
--------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 9,416
Minority interest (45,992)
Other nonoperating income - net 2,572 31,978
--------------------------
Total other income (deductions) - net 2,572 (4,598)
--------------------------
Income before interest and other expenses 2,699 202,957
--------------------------
Interest on long-term debt 145,621
Other interest expense 14,983
Allowance for borrowed funds used during
construction
Capitalized interest (46,117)
Dividends on subsidiary preferred
securities 744
--------------------------
Total interest and other expenses - net 115,231
--------------------------
NET INCOME $2,699 $87,726
==========================
</TABLE>
<PAGE 57>
<PAGE>
<PAGE>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $19,676 $5,226 $1,096
Investments in leveraged leases
Other investments
--------------------------------------------------------------
Total other property and investments 19,676 5,226 1,096
--------------------------------------------------------------
Cash and equivalents $3 10
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
--------------------------------------------------------------
Total current assets 10 3 10
--------------------------------------------------------------
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 $19,676 $5,236 $3 $1,106
==============================================================
</TABLE>
<PAGE 58>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $37,704 $135,661 $27,136
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments 37,704 135,661 27,136
----------------------------------------------------------------
Cash and equivalents 18,742 1
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 571 5
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 52
----------------------------------------------------------------
Total current assets 19,365 6
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2,832
----------------------------------------------------------------
Total deferred charges 2,832
----------------------------------------------------------------
TOTAL ASSETS $37,704 $157,858 $27,142
================================================================
</TABLE>
<PAGE 59>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $2,587 $37,525
Investments in leveraged leases
Other investments
---------------------------------------------------------------
Total other property and investments 2,587 37,525
---------------------------------------------------------------
Cash and equivalents 4
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 2
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
---------------------------------------------------------------
Total current assets 6
---------------------------------------------------------------
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 $2,593 $37,525
===============================================================
</TABLE>
<PAGE 60>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Crescent Crystal Delaware Desert
Coronado Valley River Del Mar Energy Sunrise
Energy Energy Energy Energy Conservers, Energy
Company Company Company Company Inc. 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 $13,644 $5,590
Investments in leveraged leases
Other investments
---------------------------------------------------------
Total other property and investments 13,644 5,590
---------------------------------------------------------
Cash and equivalents
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 7 7
---------------------------------------------------------
Total current assets 7 7
---------------------------------------------------------
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 $13,651 $5,597
=========================================================
</TABLE>
<PAGE 61>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Devereaux
Energy
Company
===============================================================================================================
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 $(3,110)
Investments in leveraged leases
Other investments
------------------------------------------------------------------
Total other property and investments (3,110)
------------------------------------------------------------------
Cash and equivalents
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
------------------------------------------------------------------
Total current assets
------------------------------------------------------------------
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 $(3,110)
==================================================================
</TABLE>
<PAGE 62>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1993
(In thousands)
<TABLE>
<CAPTION>
Eastern Four Hanover
Sierra East Maine El Dorado Counties Energy
Energy Energy Energy EMP Gas Company
Company Company Company Inc. Company Connsolidated
===============================================================================================================
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 $8,984 $170,416 $32,142 $11,926
Investments in leveraged leases
Other investments
------------------------------------------------------------------
Total other property and investments 8,984 170,416 32,142 11,926
------------------------------------------------------------------
Cash and equivalents 1 103 171 87
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 50 106 32 220
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------------------
Total current assets 51 209 203 307
------------------------------------------------------------------
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 60
------------------------------------------------------------------
TOTAL ASSETS $9,035 $170,625 $32,345 $12,293
==================================================================
</TABLE>
<PAGE 63>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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) (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
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments
----------------------------------------------------------------
Cash and equivalents $1 $11 $1
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
----------------------------------------------------------------
Total current assets 1 11 1
----------------------------------------------------------------
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 $1 $11 $1
================================================================
</TABLE>
<PAGE 64>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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
Investments in leveraged leases
Other investments
-------------------------------------------------------
Total other property and investments
-------------------------------------------------------
Cash and equivalents
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
-------------------------------------------------------
Total current assets
-------------------------------------------------------
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
=======================================================
</TABLE>
<PAGE 65>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC
Madera Madison International Mission
Energy Energy B.V. Mission Energy
Company Company Consolidated Capital Asia
=========================================================================================================
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 $1,547,948
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $28,721 32,585
Investments in leveraged leases
Other investments
------------------------------------------------------------
Total other property and investments 28,721 1,580,533
------------------------------------------------------------
Cash and equivalents 23,466
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 25,450
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,264
------------------------------------------------------------
Total current assets 51,180
------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 77,707 $106
------------------------------------------------------------
Total deferred charges 77,707 106
------------------------------------------------------------
TOTAL ASSETS $28,721 $1,709,420 $106
============================================================
</TABLE>
<PAGE 66>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy Mission
Canada Energy
Corporation Holding, Inc.
=========================================================================================================
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 $50,580
Investments in leveraged leases
Other investments
------------------------------------------------------------
Total other property and investments 50,580
------------------------------------------------------------
Cash and equivalents 1,343
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
------------------------------------------------------------
Total current assets 1,343
------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges $3,433
------------------------------------------------------------
Total deferred charges 3,433
------------------------------------------------------------
TOTAL ASSETS $51,923 $3,433
============================================================
</TABLE>
<PAGE 67>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Mission Mission Energy Fuel
Energy Energy Energy Energy Company
Indonesia Mexico New York, Inc. Westside, Inc. Consolidated
=============================================================================================================
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 $61,126 $116,391
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments 61,126 116,391
----------------------------------------------------------------
Cash and equivalents $13 307 102
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,466 449
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 26 1,184
----------------------------------------------------------------
Total current assets 39 3,773 1,735
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3 10,528 316
----------------------------------------------------------------
Total deferred charges 3 10,528 316
----------------------------------------------------------------
TOTAL ASSETS $42 $75,427 $118,442
================================================================
</TABLE>
<PAGE 68>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Operations Mission North Northern
Operation & de Mexico, Triple Cycle Niguel Jackson Sierra Ortega
Maintenance S.A. Systems Energy Energy Energy Energy
Incorporated de C.V. Company Company Company Company Company
==============================================================================================================
ASSETS (Inactive)
==============================================================================================================
<S> <C> <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 $176
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $40,573
Investments in leveraged leases
Other investments
----------------------------------------------------------------------
Total other property and investments 176 40,573
----------------------------------------------------------------------
Cash and equivalents 927
Receivables, including unbilled revenue,
net of allowance for uncollectible
accounts 8,192
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 19
----------------------------------------------------------------------
Total current assets 9,138
----------------------------------------------------------------------
Unamortized debt issuance and
reacquisition expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 36
----------------------------------------------------------------------
Total deferred charges 36
----------------------------------------------------------------------
TOTAL ASSETS $9,350 $40,573
======================================================================
</TABLE>
<PAGE 69>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Pleasant Prince Quartz
Otter Point Panther Patapsco Valley George Peak
Energy Timber 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 $1,094 $16,293 $12,044
Investments in leveraged leases
Other investments
------------------------------------------------------------
Total other property and investments 1,094 16,293 12,044
------------------------------------------------------------
Cash and equivalents 10
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 36
------------------------------------------------------------
Total current assets 10 36
------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,254
------------------------------------------------------------
Total deferred charges 1,254
------------------------------------------------------------
TOTAL ASSETS $2,348 $16,303 $12,080
============================================================
</TABLE>
<PAGE 70>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Rio
Rapidan Reeves Bay Ridgecrest Escondido Riverport San Felipe
Energy Energy Energy Energy 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 $620 $9,313 $31,350
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 620 9,313 31,350
-----------------------------------------------------------------
Cash and equivalents 30 53
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 688 1,342
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------------------
Total current assets 718 1,395
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 86,490
-----------------------------------------------------------------
Total deferred charges 86,490
-----------------------------------------------------------------
TOTAL ASSETS $1,338 $97,198 $31,350
=================================================================
</TABLE>
<PAGE 71>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
San Gabriel San Jacinto San Joaquin San Juan San Pedro
Energy Energy Energy Energy Energy
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 $34,006 $9,026
Investments in leveraged leases
Other investments
---------------------------------------------------------
Total other property and investments 34,006 9,026
---------------------------------------------------------
Cash and equivalents 46 7
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 29 34
---------------------------------------------------------
Total current assets 75 44
---------------------------------------------------------
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 $34,081 $9,070
=========================================================
</TABLE>
<PAGE 72>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Silver
Santa Ana Santa Clara Silverado Springs Sonoma South Coast
Energy Energy Energy Energy Geothermal 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 $5,613 $3,209 $9,190
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 5,613 3,209 9,190
-----------------------------------------------------------------
Cash and equivalents 284
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 2 177 36
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 10 9
-----------------------------------------------------------------
Total current assets 12 461 45
-----------------------------------------------------------------
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 $5,625 $3,670 $9,235
=================================================================
</TABLE>
<PAGE 73>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Southern Western Winters
Sierra Viejo Vista Sierra Run Mission
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 $7,080
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $47,688 $5,385 $8,626 $47,551 1,074,888
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 47,688 5,385 8,626 47,551 1,081,968
-----------------------------------------------------------------
Cash and equivalents 1 2 18,419
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 19 3,693 19 1,193
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 45 10 50 3,625
-----------------------------------------------------------------
Total current assets 65 10 3,695 69 23,237
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 6,221
-----------------------------------------------------------------
Total deferred charges 6,221
-----------------------------------------------------------------
TOTAL ASSETS $47,753 $5,395 $12,321 $47,620 $1,111,426
=================================================================
</TABLE>
<PAGE 74>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy
Consolidating Company
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 $1,555,204
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $(1,172,986) 979,089
Investments in leveraged leases
Other investments
-------------------------------
Total other property and investments (1,172,986) 2,534,293
-------------------------------
Cash and equivalents 64,145
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1 45,716
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 7,417
-------------------------------
Total current assets 1 117,278
-------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2,899 191,885
-------------------------------
Total deferred charges 2,899 191,885
-------------------------------
TOTAL ASSETS ($1,170,086) $2,843,456
===============================
</TABLE>
<PAGE 75>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $17,301 $3,295 $968
Retained earnings (2,297) (5) $(2) $ (6) (881)
--------------------------------------------------------------
15,004 3,290 (2) (6) 87
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------------------------------------------
Total capitalization 15,004 3,290 (2) (6) 87
--------------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (10,907) 1,384 2 $(215) 802
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------------
Total current liabilities (10,907) 1,384 2 $(215) 802
--------------------------------------------------------------
Accumulated deferred income taxes - net 15,579 562 218 6 217
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------------------------------------------
Total deferred credits 15,579 562 218 6 217
Minority interest --------------------------------------------------------------
--------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $19,676 $5,236 $0 $3 $0 $1,106
==============================================================
</TABLE>
<PAGE 76>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $35,424 $314 $22,900 $10,113
Retained earnings $(6) (2,320) 70 22,509 735
-------------------------------------------------------
(6) 33,104 384 45,409 10,848
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 44,000
-------------------------------------------------------
Total capitalization (6) 33,104 384 89,409 10,848
-------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------
Current portion of long-term debt 12,000
Short-term debt
Accounts payable (1) 782 (228) 13,503 (3,206)
Accrued taxes
Accrued interest 1,965
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------------------------------------------------
Total current liabilities (1) 782 (228) 27,468 (3,206)
-------------------------------------------------------
Accumulated deferred income taxes - net 7 3,818 (156) 31,461 16,936
Accumulated deferred investment tax credits 0 9,520 2,564
Customer advances and other deferred credits
-------------------------------------------------------
Total deferred credits 7 3,818 (156) 40,981 19,500
-------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $37,704 $0 $157,858 $27,142
=======================================================
</TABLE>
<PAGE 77>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $241 $2,537 $115
Retained earnings $(1) 52 13 (140) $(3)
-----------------------------------------------------
(1) 293 2,550 (25) (3)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization (1) 293 2,550 (25) (3)
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 1 (172) 43 25 3
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------------
Total current liabilities 1 (172) 43 25 3
-----------------------------------------------------
Accumulated deferred income taxes - net (121)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-----------------------------------------------------
Total deferred credits (121)
-----------------------------------------------------
Minority interest
-----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $2,593 $0 $0
=====================================================
</TABLE>
<PAGE 78>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $16,092 $3,103 $2,432
Retained earnings $(2) 3,292 $(3) $3,904 (2,175) 679
-----------------------------------------------------------
(2) 19,384 (3) 3,904 928 3,111
Preferred securities of subsidiaries
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------------
Total capitalization (2) 19,384 (3) 3,904 928 3,111
-----------------------------------------------------------
Other long-term liabilities
-----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2 (4,944) 3 1,830 (924) (551)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------------------
Total current liabilities 2 (4,944) 3 1,830 (924) (551)
-----------------------------------------------------------
Accumulated deferred income taxes - net 21,532 6,422 (4) 3,037
Accumulated deferred investment tax credits 1,553 1,495
Customer advances and other deferred credits
-----------------------------------------------------------
Total deferred credits 23,085 7,917 (4) 3,037
-----------------------------------------------------------
Minority interest
-----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $37,525 $0 $13,651 $0 $5,597
===========================================================
</TABLE>
<PAGE 79>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Delaware
Sunrise
Energy Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C>
Common shareholders' equity:
Common stock
Retained earnings
------------------------------------------------------------
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------------
Total capitalization
------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------------
Total current liabilities
------------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------------
Total deferred credits
------------------------------------------------------------
Minority interest
------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0
============================================================
</TABLE>
<PAGE 80>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $13 $0 $9,177 $157,271 $9,280
Retained earnings 1 $(1,894) (931) $(5) 2,296 (1,366)
------------------------------------------------------------
14 (1,894) 8,246 (5) 159,567 7,914
Preferred securities of subsidiaries
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------------
Total capitalization 14 (1,894) 8,246 (5) 159,567 7,914
------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (9) (1,310) 382 5 15,220 (3,353)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------------
Total current liabilities (9) (1,310) 382 5 15,220 (3,353)
------------------------------------------------------------
Accumulated deferred income taxes - net (5) 94 407 (4,162) 23,573
Accumulated deferred investment tax credits 2,182
Customer advances and other deferred credits 2,029
------------------------------------------------------------
Total deferred credits (5) 94 407 (4,162) 27,784
------------------------------------------------------------
Minority interest
------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 ($3,110) $9,035 $0 $170,625 $32,345
============================================================
</TABLE>
<PAGE 81>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Four Hanover
Counties Energy Holtsville Indian Bay Jefferson
Gas Company Energy Energy Energy
Company Consolidated Company Company Company
=========================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
=========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $10,979 $1,273 $207
Retained earnings $(3) (442) (880) 43 $(1,717)
---------------------------------------------------------
(3) 10,537 393 250 (1,717)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
---------------------------------------------------------
Total capitalization (3) 10,537 393 250 (1,717)
---------------------------------------------------------
Other long-term liabilities
---------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3 (844) 380 (145) 1,285
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
---------------------------------------------------------
Total current liabilities 3 (844) 380 (145) 1,285
---------------------------------------------------------
Accumulated deferred income taxes - net 2,600 (772) (105) 443
Accumulated deferred investment tax credits
Customer advances and other deferred credits
---------------------------------------------------------
Total deferred credits 2,600 (772) (105) 443
---------------------------------------------------------
Minority interest
---------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $12,293 $1 $0 $11
========================================================
</TABLE>
<PAGE 82>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $3,094 $11,535 $696
Retained earnings $(3) 277 (1,389) $(3) (507)
-----------------------------------------------------
(3) 3,371 10,146 (3) 189
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization (3) 3,371 10,146 (3) 189
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3 (2,619) (10,300) 3 (189)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------------
Total current liabilities 3 (2,619) (10,300) 3 (189)
-----------------------------------------------------
Accumulated deferred income taxes - net (751) 154
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-----------------------------------------------------
Total deferred credits (751) 154
-----------------------------------------------------
Minority interest
-----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $1 $0 $0 $0
=====================================================
</TABLE>
<PAGE 83>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $8,092 $4,466
Retained earnings $(3) (6,245) $(3) $(6) 619
--------------------------------------------------------
(3) 1,847 (3) (6) 5,085
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------------------------------------
Total capitalization (3) 1,847 (3) (6) 5,085
--------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3 (3,075) 3 23,619
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------
Total current liabilities 3 (3,075) 3 23,619
--------------------------------------------------------
Accumulated deferred income taxes - net 1,218 6 17
Accumulated deferred investment tax credits 10
Customer advances and other deferred credits
--------------------------------------------------------
Total deferred credits 1,228 6 17
--------------------------------------------------------
Minority interest
--------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $0 $0 $28,721
========================================================
</TABLE>
<PAGE 84>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $67,366 $180 $45,135 $122,546
Retained earnings 1,375 (122) 1,524 (2,257) $(3)
-----------------------------------------------------------
68,741 58 46,659 120,289 (3)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 669,963
-----------------------------------------------------------
Total capitalization 738,704 58 46,659 120,289 (3)
-----------------------------------------------------------
Other long-term liabilities
-----------------------------------------------------------
Current portion of long-term debt 16,139
Short-term debt
Accounts payable 335,803 3 3,223 9,423 3
Accrued taxes 369 (158)
Accrued interest 6,391
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------------------
Total current liabilities 358,702 3 3,065 9,423 3
-----------------------------------------------------------
Accumulated deferred income taxes - net 2,818 (61) 2,199 (11,270)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,944
-----------------------------------------------------------
Total deferred credits 9,762 (61) 2,199 (11,270)
-----------------------------------------------------------
Minority interest 602,252
-----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,709,420 $0 $51,923 $118,442 $0
==========================================================
</TABLE>
<PAGE 85>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $61,481 $250
Retained earnings (1,141) (372) $(1) 4,210
------------------------------------------------------
(941) 61,109 (1) 4,460
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 10,214
------------------------------------------------------
Total capitalization (941) 71,323 (1) 4,460
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 999 4,678 1 4,871
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 999 4,678 1 4,871
------------------------------------------------------
Accumulated deferred income taxes - net (16) (574) 19
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (16) (574) 19
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $42 $75,427 $0 $9,350
======================================================
</TABLE>
<PAGE 86>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Mission Energy Operations de
Capital Holdings, Inc. Mexico SA de CV
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Retained earnings $(6)
------------------------------------------------------
(6)
Preferred securities of subsidiaries
Not subject to mandatory redemption $2,625 84,875
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 2,625 84,869
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (2,519) (81,436)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (2,519) (81,436)
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $106 $3,433
======================================================
</TABLE>
<PAGE 87>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission North Northern
Triple Cycle Niguel Jackson Sierra Ortega Otter Point
Systems Energy Energy Energy Energy Energy
Company Company Company Company Company Company
==============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $335 $13,730
Retained earnings 155 8,799 $134 $(4) $(1)
--------------------------------------------------------------
490 22,529 134 (4) (1)
Preferred securities of subsidiaries
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------------------------------------------
Total capitalization 490 22,529 134 (4) (1)
--------------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (314) (7,116) (134) 4 1
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------------
Total current liabilities (314) (7,116) (134) 4 1
--------------------------------------------------------------
Accumulated deferred income taxes - net (176) 23,469
Accumulated deferred investment tax credits 1,691
Customer advances and other deferred credits
--------------------------------------------------------------
Total deferred credits (176) 25,160
-----------------------------------------------------------
Minority interest
-----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $40,573 $0 $0 $0
==============================================================
</TABLE>
<PAGE 88>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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
==============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $966 $119 $12,790 $9,278 $1,686
Retained earnings 255 $(1) 432 780 561 (160)
--------------------------------------------------------------
1,221 (1) 551 13,570 9,839 1,526
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 528
--------------------------------------------------------------
Total capitalization 1,221 (1) 1,079 13,570 9,839 1,526
--------------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (796) 1 1,679 (3) 511 1,070
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------------
Total current liabilities (796) 1 1,679 (3) 511 1,070
---------------------------------------------------------
Accumulated deferred income taxes - net (425) (410) 2,736 1,730 (1,258)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------------------------------------------
Total deferred credits (425) (410) 2,736 1,730 (1,258)
-----------------------------------------------------------
Minority interest
-----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $2,348 $16,303 $12,080 $1,338
==============================================================
</TABLE>
<PAGE 89>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Rio
Reeves Bay Ridgecrest Escondido Riverport San Felipe
Energy Energy Energy Energy Energy
Company Company Company Company Company
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $788 $123,675 $333 $18,282
Retained earnings (669) $(6) (19,894) 79 4,660
------------------------------------------------------
119 (6) 103,781 412 22,942
Preferred securities of subsidiaies:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 119 (6) 103,781 412 22,942
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (119) (15,108) (245) (14,021)
Accrued taxes 5,176
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (119) (9,932) (245) (14,021)
------------------------------------------------------
Accumulated deferred income taxes - net 6 (182) (167) 20,603
Accumulated deferred investment tax credits 1,826
Customer advances and other deferred credits 3,531
------------------------------------------------------
Total deferred credits 6 3,349 (167) 22,429
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $97,198 $0 $31,350
======================================================
</TABLE>
<PAGE 90>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
San Gabriel San Jacinto San Joaquin San Juan San Pedro
Energy Energy Energy Energy Energy
Company Company Company Company Company
========================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $3,000 $4,942 $0
Retained earnings $(3) $(3) 5,816 (97) $(6)
--------------------------------------------------------
(3) (3) 8,816 4,845 (6)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------------------------------------
Total capitalization (3) (3) 8,816 4,845 (6)
--------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3 3 6,645 2,358
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------
Total current liabilities 3 3 6,645 2,358
--------------------------------------------------------
Accumulated deferred income taxes - net 15,213 1,867 6
Accumulated deferred investment tax credits 3,407
Customer advances and other deferred credits
--------------------------------------------------------
Total deferred credits 18,620 1,867 6
--------------------------------------------------------
Minority interest
--------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $34,081 $9,070 $0
========================================================
</TABLE>
<PAGE 91>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Silver
Santa Ana Santa Clara Silverado Springs Sonoma
Energy Energy Energy Energy Geothermal
Company Company Company Company Company
========================================================================================================
CAPITALIZATION AND LIABILITIES
========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $2,911 $3,261
Retained earnings $(6) $(4) 540 $(3) (535)
--------------------------------------------------------
(6) (4) 3,451 (3) 2,726
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------------------------------------
Total capitalization (6) (4) 3,451 (3) 2,726
--------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 4 1,936 3 970
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------------
Total current liabilities 4 1,936 3 970
--------------------------------------------------------
Accumulated deferred income taxes - net 6 238 (44)
Accumulated deferred investment tax credits 18
Customer advances and other deferred credits
--------------------------------------------------------
Total deferred credits 6 238 (26)
--------------------------------------------------------
Minority interest
--------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $5,625 $0 $3,670
========================================================
</TABLE>
<PAGE 92>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Southern Western
South Coast Sierra Viejo Vista Sierra
Energy Energy Energy Energy Energy
Company Company Company Company Company
====================================================================================================
CAPITALIZATION AND LIABILITIES
====================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $2,070 $5,457 $3,256 $12,065 $13,090
Retained earnings 254 12,504 137 509 (980)
-----------------------------------------------------
2,324 17,961 3,393 12,574 12,110
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization 2,324 17,961 3,393 12,574 12,110
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2,442 11,908 1,281 211 12,724
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------------
Total current liabilities 2,442 11,908 1,281 211 12,724
-----------------------------------------------------
Accumulated deferred income taxes - net 3,655 13,658 721 (464) 17,856
Accumulated deferred investment tax credits 814 4,226 4,930
Customer advances and other deferred credits
-----------------------------------------------------
Total deferred credits 4,469 17,884 721 (464) 22,786
-----------------------------------------------------
Minority interest
-----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $9,235 $47,753 $5,395 $12,321 $47,620
=====================================================
</TABLE>
<PAGE 93>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Winters Run Mission Energy
Energy Energy Consolidating Company
Company Company Adjustments Consolidated
======================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
======================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $357,423 $(867,614) $349,919
Retained earnings $(1) 249,120 (20,300) 256,521
------------------------------------------------------
(1) 606,543 (887,914) 606,440
Preferred securities of subsidiaries
Not subject to mandatory redemption 87,500
Subject to mandatory redemption
Long-term debt 353,519 1,078,224
------------------------------------------------------
Total capitalization (1) 960,062 (887,914) 1,772,164
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt 28,139
Short-term debt 90,000 90,000
Accounts payable 1 103,010 (285,003) 115,249
Accrued taxes 2,900 8,287
Accrued interest 1,992 10,348
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 252 252
------------------------------------------------------
Total current liabilities 1 195,254 (288,103) 252,275
------------------------------------------------------
Accumulated deferred income taxes - net (51,293) (69) 162,622
Accumulated deferred investment tax credits (1,633) 32,603
Customer advances and other deferred credits 9,036 21,540
------------------------------------------------------
Total deferred credits (43,890) (69) 216,765
------------------------------------------------------
Minority Interest 602,252
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $1,111,426 ($1,170,086) $2,843,456
======================================================
</TABLE>
<PAGE 94>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue
Diversified operations $(5,274) $561 $67
-------------------------------------------------------------
Total operating revenue (5,274) 561 67
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 312 637 625
Maintenance
Depreciation and decommissioning 194 68 14
Income taxes (2,109) (37) $1 $3 $1 (227)
Property and other taxes
-------------------------------------------------------------
Total operating expenses (1,603) 668 1 3 1 412
-------------------------------------------------------------
Operating income (3,671) (107) (1) (3) (1) (345)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 175 1
Minority interest
Other nonoperating income - net (71)
-------------------------------------------------------------
Total other income (deductions) - net 104 1
-------------------------------------------------------------
Income before interest and
other expenses (3,567) (107) (1) (2) (1) (345)
-------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred securities
-------------------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------------------
NET INCOME ($3,567) ($107) ($1) ($2) ($1) ($345)
=============================================================
</TABLE>
<PAGE 95>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue
Diversified operations $8,032 $31,781 $3,752
---------------------------------------------------------------
Total operating revenue 8,032 31,781 3,752
---------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625 693 622
Maintenance
Depreciation and decommissioning 688 7
Income taxes 2,254 9,875 1,278
Property and other taxes
---------------------------------------------------------------
Total operating expenses 2,879 11,256 1,907
---------------------------------------------------------------
Operating income 5,153 20,525 1,845
---------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2,039
Minority interest
Other nonoperating income - net (827) (1)
---------------------------------------------------------------
Total other income (deductions) - net 1,212 (1)
---------------------------------------------------------------
Income before interest and other expenses 5,153 21,737 1,844
---------------------------------------------------------------
Interest on long-term debt 6,368
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
---------------------------------------------------------------
Total interest and other expenses - net 6,368
---------------------------------------------------------------
NET INCOME $5,153 $15,369 $1,844
===============================================================
</TABLE>
<PAGE 96>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue
Diversified operations $6,304 $3,017
------------------------------------------------------------------
Total operating revenue 6,304 3,017
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625 640
Maintenance
Depreciation and decommissioning
Income taxes $2 $1 $1 $1 1,438 1 (498)
Property and other taxes
------------------------------------------------------------------
Total operating expenses 2 1 1 1 2,063 1 142
------------------------------------------------------------------
Operating income (2) (1) (1) (1) 4,241 (1) 2,875
------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 1
------------------------------------------------------------------
Total other income (deductions) - net 1
------------------------------------------------------------------
Income before interest and other expenses (1) (1) (1) (1) 4,241 (1) 2,875
------------------------------------------------------------------
Interest on long-term debt
Other interest expense (5)
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------------
Total interest and other expenses - net (5)
------------------------------------------------------------------
NET INCOME $4 ($1) ($1) ($1) $4,241 ($1) $2,875
==================================================================
</TABLE>
<PAGE 97>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
Desert Eastern
Del Mar Sunrise Delaware Devereaux Sierra East Maine
Energy Energy Energy Energy Energy Energy
Company Company Conservers, Inc. Company Company Company
===========================================================================================================
(Inactive) (Inactive) (Inactive)
<S> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $23 $1,617 $(3,118) $1,967
------------------------------------------------------------------
Total operating revenue 23 1,617 (3,118) 1,967
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 2,355 638 625
Maintenance
Depreciation and decommissioning 14 204
Income taxes (670) 366 (2) (1,222) 378 $1
Property and other taxes
------------------------------------------------------------------
Total operating expenses 1,685 1,018 (2) (1,222) 1,207 1
------------------------------------------------------------------
Operating income (1,662) 599 2 (1,896) 760 (1)
------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (26) 2 1
Minority interest
Other nonoperating income - net 8 1 147 42
------------------------------------------------------------------
Total other income (deductions) - net (18) 1 149 43
------------------------------------------------------------------
Income before interest and
other expenses (1,680) 600 151 (1,896) 803 (1)
------------------------------------------------------------------
Interest on long-term debt
Other interest expense 1
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------------
Total interest and other expenses - net 1
------------------------------------------------------------------
NET INCOME ($1,680) $600 $151 ($1,896) $802 ($1)
=====================================================================
</TABLE>
<PAGE 98>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
El Dorado
Energy
Company
==============================================================================================================
<S> <C>
Electric utility revenue
Diversified operations $3,879
---------------------------------------------------------------------
Total operating revenue 3,879
---------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 622
Maintenance
Depreciation and decommissioning 206
Income taxes 1,099
Property and other taxes 1
---------------------------------------------------------------------
Total operating expenses 1,928
---------------------------------------------------------------------
Operating income 1,951
---------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 128
---------------------------------------------------------------------
Total other income (deductions) - net 128
---------------------------------------------------------------------
Income before interest and 2,079
other expenses
---------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
---------------------------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------------------------
NET INCOME $2,079
=====================================================================
</TABLE>
<PAGE 99>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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) (Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $605 $1,973 $14
---------------------------------------------------------------------
Total operating revenue 605 1,973 14
---------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625 625
Maintenance
Depreciation and decommissioning 126
Income taxes (1,265) $1 456 $1 (48) 1
Property and other taxes
---------------------------------------------------------------------
Total operating expenses (640) 1 1,207 1 (48) 1
---------------------------------------------------------------------
Operating income 1,245 (1) 766 (1) 62 (1)
---------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 11 8 272
Minority interest
Other nonoperating income - net 26 23 2,333
---------------------------------------------------------------------
Total other income (deductions) - net 37 31 2,605
---------------------------------------------------------------------
Income before interest and
other expenses 1,282 (1) 797 (1) 2,667 (1)
---------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
---------------------------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------------------------
NET INCOME $1,282 ($1) $797 ($1) $2,667 ($1)
=====================================================================
</TABLE>
<PAGE 100>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue
Diversified operations $(466)
--------------------------------------------------------------
Total operating revenue (466)
--------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625
Maintenance
Depreciation and decommissioning 191
Income taxes $(5) $42 $1 $1 $1 (516)
Property and other taxes
--------------------------------------------------------------
Total operating expenses (5) 42 1 1 1 300
--------------------------------------------------------------
Operating income 5 (42) (1) (1) (1) (766)
--------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (7)
Minority interest
Other nonoperating income - net (1,969)
--------------------------------------------------------------
Total other income (deductions) - net (1,976)
--------------------------------------------------------------
Income before interest and
other expenses 5 (2,018) (1) (1) (1) (766)
--------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
--------------------------------------------------------------
Total interest and other expenses - net
--------------------------------------------------------------
NET INCOME $5 ($2,018) ($1) ($1) ($1) ($766)
==============================================================
</TABLE>
<PAGE 101>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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
============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $1,411 $207,734 $3,305
-------------------------------------------------------------------
Total operating revenue 1,411 207,734 3,305
-------------------------------------------------------------------
Fuel 54,840
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 313 37,353 6
Maintenance
Depreciation and decommissioning 77 30,482
Income taxes $1 $1 402 (12,524) $1 2,528
Property and other taxes 2,424
-------------------------------------------------------------------
Total operating expenses 1 1 792 112,575 1 2,534
-------------------------------------------------------------------
Operating income (1) (1) 619 95,159 (1) 771
-------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (14)
Minority interest (46,159)
Other nonoperating income - net 17,891 (134)
-------------------------------------------------------------------
Total other income (deductions) - net (28,268) (148)
-------------------------------------------------------------------
Income before interest and
other expenses (1) (1) 619 66,891 (1) 623
-------------------------------------------------------------------
Interest on long-term debt 102,942
Other interest expense 1 137
Allowance for borrowed funds used during
construction
Capitalized interest (36,736)
Dividends on subsidiary preferred
securities
-------------------------------------------------------------------
Total interest and other expenses - net 66,207 137
-------------------------------------------------------------------
NET INCOME ($1) ($1) $619 $684 ($1) $486
===================================================================
</TABLE>
<PAGE 102>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
Mission
Mission Operations
Mission Energy de Mexico
Capital Holdings, Inc. SA de CV
======================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------------------
Total operating revenue
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses
Maintenance
Depreciation and decommissioning
Income taxes $(9) $(297)
Property and other taxes
-------------------------------------------------------------
Total operating expenses (9) (297)
-------------------------------------------------------------
Operating income 9 297
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 22 722
Minority interest
Other nonoperating income - net (9) (293)
-------------------------------------------------------------
Total other income (deductions) - net 13 429
-------------------------------------------------------------
Income before interest and
other expenses 22 726
-------------------------------------------------------------
Interest on long-term debt 10
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities 22 722
-------------------------------------------------------------
Total interest and other expenses - net 22 732
-------------------------------------------------------------
NET INCOME $0 ($6)
=============================================================
</TABLE>
<PAGE 103>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue
Diversified operations $6,922 $6
-------------------------------------------------------------
Total operating revenue 6,922 6
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 1,875 $347 1
Maintenance
Depreciation and decommissioning 5,449 40
Income taxes (4,131) $1 (150) (722) $1
Property and other taxes
-------------------------------------------------------------
Total operating expenses 3,193 1 237 (721) 1
-------------------------------------------------------------
Operating income 3,729 (1) (237) 727 (1)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 464 1,872
Minority interest
Other nonoperating income - net (959) (63) (729)
-------------------------------------------------------------
Total other income (deductions) - net (495) (63) 1,143
-------------------------------------------------------------
Income before interest and other expenses 3,234 (1) (300) 1,870 (1)
-------------------------------------------------------------
Interest on long-term debt 603
Other interest expense 1,121
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------------------
Total interest and other expenses - net 1,724
-------------------------------------------------------------
NET INCOME $3,234 ($1) ($300) $146 ($1)
=============================================================
</TABLE>
<PAGE 104>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
Mission Mission North Northern Otter
Operation & Triple Cycle Niguel Jackson Sierra Ortega Point
Maintenance Systems Energy Energy Energy Energy Energy
Inc. Company Company Company Company Company Company
==============================================================================================================
(Inactive) (Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $27,608 $5,689
---------------------------------------------------------------------
Total operating revenue 27,608 5,689
---------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 25,379 625
Maintenance
Depreciation and decommissioning 47
Income taxes 818 1,006 $1 $1
Property and other taxes 3
---------------------------------------------------------------------
Total operating expenses 26,247 1,631 1 1
---------------------------------------------------------------------
Operating income 1,361 4,058 (1) (1)
---------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 48
Minority interest
Other nonoperating income - net 108
---------------------------------------------------------------------
Total other income (deductions) - net 156
---------------------------------------------------------------------
Income before interest and other expenses 1,517 4,058 (1) (1)
---------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
---------------------------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------------------------
NET INCOME $1,517 $4,058 ($1) ($1)
=====================================================================
</TABLE>
<PAGE 105>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
Pleasant Prince Quartz
Panther Patapsco Valley George Peak Rapidan Reeves Bay
Timber Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company Company
===========================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $1,184 $3,781 $2,438 $17
------------------------------------------------------------------
Total operating revenue 1,184 3,781 2,438 17
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 313 625 658 313
Maintenance
Depreciation and decommissioning (8) 614 61 2
Income taxes $1 314 946 652 (113) $1
Property and other taxes
------------------------------------------------------------------
Total operating expenses 1 619 2,185 1,371 202 1
------------------------------------------------------------------
Operating income (1) 565 1,596 1,067 (185) (1)
------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income $5 150 9 135
Minority interest
Other nonoperating income - net (2) (91) (4) (55) 18
------------------------------------------------------------------
Total other income (deductions) - net 3 59 5 80 18
------------------------------------------------------------------
Income before interest and other expenses 3 (1) 624 1,601 1,147 (167) (1)
------------------------------------------------------------------
Interest on long-term debt 20
Other interest expense 4
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------------
Total interest and other expenses - net 24
------------------------------------------------------------------
NET INCOME $3 ($1) $600 $1,601 $1,147 ($167) ($1)
==================================================================
</TABLE>
<PAGE 106>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
Rio
Ridgecrest Escondido Riverport San Felipe San Gabriel San Jacinto
Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company
============================================================================================================
(Inactive) (Inactive)
<S> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $4,837
-------------------------------------------------------------------
Total operating revenue 4,837
-------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625
Maintenance
Depreciation and decommissioning
Income taxes $1 $3,169 897 $1 $1
Property and other taxes
-------------------------------------------------------------------
Total operating expenses 1 3,169 1,522 1 1
-------------------------------------------------------------------
Operating income (1) (3,169) 3,315 (1) (1)
-------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 214
Minority interest
Other nonoperating income - net (87)
-------------------------------------------------------------------
Total other income (deductions) - net 127
-------------------------------------------------------------------
Income before interest and other expenses (1) (3,042) 3,315 (1) (1)
-------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------------------------
NET INCOME ($1) ($3,042) $3,315 ($1) ($1)
===================================================================
</TABLE>
<PAGE 107>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
Silver
San Joaquin San Juan San Pedro Santa Ana Santa Clara Silverado Springs
Energy Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company Company
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $12,994 $9,137 $1,270
---------------------------------------------------------------------
Total operating revenue 12,994 9,137 1,270
---------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 673 667 638
Maintenance
Depreciation and decommissioning 29 90 50
Income taxes 4,934 3,213 $1 $1 $1 247 $1
Property and other taxes
---------------------------------------------------------------------
Total operating expenses 5,636 3,970 1 1 1 935 1
---------------------------------------------------------------------
Operating income 7,358 5,167 (1) (1) (1) 335 (1)
---------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 23 3
---------------------------------------------------------------------
Total other income (deductions) - net 23 3
---------------------------------------------------------------------
Income before interest and
other expenses 7,381 5,170 (1) (1) (1) 335 (1)
---------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
---------------------------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------------------------
NET INCOME $7,381 $5,170 ($1) ($1) ($1) $335 ($1)
=====================================================================
</TABLE>
<PAGE 108>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
Southern Western Winters
Sonoma South Coast Sierra Viejo Vista Sierra Run
Geothermal Energy Energy Energy Energy Energy Energy
Company Company Company Company Company Company Company
=============================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $394 $3,536 $27,796 $984 $6 $30,281
--------------------------------------------------------------------
Total operating revenue 394 3,536 27,796 984 6 30,281
--------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625 1,189 683 638 728
Maintenance
Depreciation and decommissioning 4 58 65 37
Income taxes (93) 923 9,819 133 (15) 11,881
Property and other taxes
--------------------------------------------------------------------
Total operating expenses 532 2,116 10,560 836 (15) 12,646
--------------------------------------------------------------------
Operating income (138) 1,420 17,236 148 21 17,635
--------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 206 17 41
Minority interest
Other nonoperating income - net 293 23 6 (3) 2
--------------------------------------------------------------------
Total other income (deductions) - net 499 40 6 38 2
--------------------------------------------------------------------
Income before interest and
other expenses 361 1,460 17,242 148 59 17,637
--------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
--------------------------------------------------------------------
Total interest and other expenses - net
--------------------------------------------------------------------
NET INCOME $361 $1,460 $17,242 $148 $59 $17,637
====================================================================
</TABLE>
<PAGE 109>
<PAGE>
Mission Energy Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(in thousands)
<TABLE>
<CAPTION>
Mission
Mission Energy
Energy Consolidating Company
Company Adjustments Consolidated
==================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(25,466) $380,598
-----------------------------------------
Total operating revenue (25,466) 380,598
-----------------------------------------
Fuel 54,840
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 17,444 102,612
Maintenance
Depreciation and decommissioning 1,137 39,946
Income taxes (22,855) $700 12,294
Property and other taxes 60 2,488
-----------------------------------------
Total operating expenses (4,214) 700 212,180
-----------------------------------------
Operating income (21,252) (700) 168,418
-----------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 910 (618) 7,895
Minority interest (46,159)
Other nonoperating income - net (216) (1,646) 13,917
-----------------------------------------
Total other income (deductions) - net 694 (1,028) (24,347)
-----------------------------------------
Income before interest and
other expenses (20,558) (1,728) 144,071
-----------------------------------------
Interest on long-term debt 15,979 125,922
Other interest expense 8,948 (1,728) 8,479
Allowance for borrowed funds used during
construction
Capitalized interest (9,381) (46,117)
Dividends on subsidiary preferred
securities 744
-----------------------------------------
Total interest and other expenses - net 15,546 (1,728) 89,028
-----------------------------------------
NET INCOME ($36,104) $0 $55,043
=========================================
</TABLE>
PAGE 110
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Bergen
Aguila Anacapa Arrowhead Balboa Point
Energy Energy Energy Energy Energy
Company Company Company Company Company
===============================================================
Name of Entity: American Salinas River 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 $92,624 $23,095 $0 $2,178 $841
Revenue $14,019 $7,546 $0 $0 $71
Net Income (Loss) ($1,691) $703 $0 $0 $69
</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 111>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<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 $339 $38,248 $338 $136,463 $46,661
Revenue $0 $16,923 $0 $85,488 $24,749
Net Income (Loss) $0 $8,224 $0 $29,007 $3,334
</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 112>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<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 (Del Ranch) Oconee Beowawe
Cogeneratio Clean Energy, Andy Hoch, 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 $229 $0 $0 $48,434 $0 $15,135
Revenue $0 $0 $0 $20,964 $0 $6,047
Net Income (Loss) $0 $0 $0 $6,147 $0 $2,842
</TABLE>
(k) To own and operate power production facilities.
(l) 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 113>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Eastern
Del Mar Devereaux Sierra El Dorado
Energy Energy Energy Energy
Company Company Company Company
================================================================
Name of Entity: Mid-Set Auburndale Saguaro Auburndale
Cogeneration Power Power Power
Company Partners, L.P. Company, L.P. Partners, L.P
<S> <C> <C> <C> <C>
Ownership Interest: 50% 49% 50% 1%
Nature/Purpose of Business: (r) (s) (t) (u)
Ownership Interest in (000):
Assets $14,436 $83,434 $58,310 $1,703
Revenue $8,023 $8,525 $15,087 $174
Net Income (Loss) $1,538 ($2,337) $1,751 ($48)
</TABLE>
(q) (sold)
(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 114
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
(1)
GEO
East Mesa Chickahominy Holtsville Indian Bay
EMP, Limited River Energy Energy Energy
Inc. Partnership Corp. 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 $83,802 $7,800 $66,184 $1,212 $203
Revenue $18,295 $635 $11,398 $0 $0
Net Income (Loss) $853 ($909) $1,664 $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 115>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
(3)
Lehigh TEVCO/
Kingspark Lakewiew River Mission
Energy Energy Energy Assets
Company Company Company Partnership
======================================================
Name of Entity: Smithtown Georgia TEVCO/ Continental
Cogeneration, Peakers, Mission Energy
L.P. L.P. Assets Associates
Partnership L.P.
(2)
<S> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 22.5%
Nature/Purpose of Business: (z) (ab) (ac) (ad)
Ownership Interest in (000):
Assets $2,178 $0 $0 $0
Revenue $0 $0 $0 $0
Net Income (Loss) $0 $0 $0 $0
</TABLE>
(z) To own and operate power production facilities.
(ab) To own and operate power production facilities.
(ac) To own limited partnership interests in power production
facilities located in Maine and Pennsylvania.
(ad) To own a 131 MW cogeneration facility located in Hazleton,
Pennsylvania.
<PAGE 116>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Mission
Madera Madison Energy
Energy Energy Company
Company Company Canada
=====================================
Name of Entity: Brookhaven Gordonsville B.C. Star
Cogeneration, Energy, Partners
L.P. L.P.
<S> <C> <C> <C>
Ownership Interest: 50% 49% 50%
Nature/Purpose of Business: (ae) (af) (ag)
Ownership Interest in (000):
Assets $1,212 $101,847 $55,043
Revenue $0 $8,197 $15,464
Net Income (Loss) $0 $872 $3,825
</TABLE>
(ae) To own and operate power production facilities.
(af) To own and operate a 240 MW cogeneration facility located in
Gordonsville, Virginia.
(ag) To hold, acquire and operate oil, gas and mineral producing
properties and leases and facilities.
PAGE 117
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy Mission Triple Cycle
Canada Oil & Gas Energy Systems
Corp. Company New York, Inc Company
==========================================================
Name of Entity: Mission Four Star Brooklyn Triple Cycle
Interface Oil & Gas Navy Yard Partnership
Partnership Company Cogeneration
Partners, L.P.
<S> <C> <C> <C> <C>
Ownership Interest: 50% 40% 50% 50%
Nature/Purpose of Business: (al) (ao) (ap) (aq)
Ownership Interest in (000):
Assets $298 $221,720 $29,053 $0
Revenue $0 $59,440 $6 $0
Net Income (Loss) $24 $10,080 $6 $0
</TABLE>
(al) To own and operate power production facilities.
(ao) To own 40% 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 118>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Northern Pleasant Prince Prince
Niguel Sierra Panther Valley George George
Energy Energy Timber Energy Energy Energy
Company Company Company Company Company Company
===========================================================================
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 $52,522 $0 $0 $936 $46,564 $470
Revenue $20,265 $0 $0 $142 $12,183 $123
Net Income (Loss) $5,404 $0 $0 ($17) $3,200 $32
</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 119
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
(4) Quartz North
Hopewell Peak Rapidan Reeves Bay Shore Ridgecrest Rio Escondido
Cogeneration, Energy Energy Energy Energy Energy Energy
Inc. Company Company Company L.P. Company Company
========================================================================================
Name of Entity: Hopewell Nevada Gordonsville North Shore North Ville Riverhead Energia
Cogeneration Sun-Peak Energy, Energy, Energy Cogeneration del Norte,
Limited L.P. L.P. L.P. Corporation I, L.P. S.A. de C.V.
Partnership
<S> <C> <C> <C> <C> <C> <C> <C>
Ownership Interest: 1% 50% 1% 50% 100% 50% 49%
Nature/Purpose of Business: (ax) (ay) (az) (ba) (bb) (bc) (bd)
Ownership Interest in (000):
Assets $1,881 $36,944 $2,079 $0 $0 $228 $35,772
Revenue $492 $6,727 $167 $0 $0 $0 $0
Net Income (Loss) $129 $2,197 $18 $0 $0 $0 $(12,156)
</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.
(bd) To own and operate power production facilities located in Mexico.
<PAGE 120>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Riverport San Felipe San Joaquin San Juan
Energy Energy Energy Energy
Company Company Company Company
==================================================================
Name of Entity: Riverhead Leathers, Midway-Sunset March Point
Cogeneration L.P. Cogeneration Cogeneration
II, L.P. Company Company
L.P.
<S> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 50%
Nature/Purpose of Business: (be) (bf) (bg) (bh)
Ownership Interest in (000):
Assets $296 $59,735 $68,256 $76,067
Revenue $0 $20,189 $45,613 $31,596
Net Income (Loss) $0 $4,402 $13,237 $7,678
</TABLE>
<PAGE 121>
(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 121>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<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 $295 $202 $0 $22,146 $0 $3,971
Revenue $0 $0 $0 $8,495 $0 $982
Net Income (Loss) $0 $0 $0 $1,446 $0 $237
</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 122>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<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 $15,649 $78,867 $1,911 $23,519 $11,579 $99,529
Revenue $12,606 $69,394 $8,946 $7,336 $6 $72,859
Net Income (Loss) $3,409 $28,028 $1,000 $1,039 $6 $29,746
</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 123>
<PAGE>
Mission Energy Co. and Subsidiaries
Equity Investments
December 31, 1994
<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 124>
<PAGE>
Hanover Energy Company
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Hanover
Chicahominy Hanover Energy
River Energy Consolidating Company
Engy. Co. 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 $11,926 $10,537 ($10,537) $11,926
Investments in leveraged leases
Other investments
-----------------------------------------------
Total other property and investments 11,926 10,537 (10,537) 11,926
-----------------------------------------------
Cash and equivalents 87 87
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 220 220
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------
Total current assets 307 307
-----------------------------------------------
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 $12,293 $10,537 ($10,537) $12,293
===============================================
</TABLE>
<PAGE 125>
<PAGE>
Hanover Energy Company
Consolidating Balance Sheet
December 31, 1994
(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 $10,979 $10,979 ($10,979) $10,979
Retained earnings (442) (442) 422 (422)
-----------------------------------------------
10,537 10,537 (10,537) 10,537
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------
Total capitalization 10,537 10,537 (10,537) 10,537
-----------------------------------------------
Other long-term liabilities
-----------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (844) (844)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-----------------------------------------------
Total current liabilities (844) (844)
-----------------------------------------------
Accumulated deferred income taxes - net 2,600 2,600
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-----------------------------------------------
Total deferred credits 2,600 2,600
-----------------------------------------------
Minority interest
-----------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $12,293 $10,537 ($10,537) $12,293
===============================================
</TABLE>
<PAGE 126>
<PAGE>
Hanover Energy Company
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Hanover
Chicahominy Hanover Energy
River Energy Consolidating Company
Egy. Corp. Company Adjustments Consolidated
==============================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $1,973 $1,973
-------------------------------------------------
Total operating revenue 1,973 1,973
-------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625 625
Maintenance
Depreciation and decommissioning 126 126
Income taxes 456 456
Property and other taxes
-------------------------------------------------
Total operating expenses 1,207 1,207
-------------------------------------------------
Operating income 766 766
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interst income 8 8
Minority interest
Other nonoperating income - net 23 23
-------------------------------------------------
Total other income (deductions) - net 31 31
-------------------------------------------------
Income before interest and other expenses 797 797
-------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred securities
-------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------
NET INCOME $797 $797
=================================================
</TABLE>
<PAGE 127>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Power Latrobe Loy Yang MEC
Development Power Holdings Esenyurt
Company Pty. Ltd. Pty.Ltd. B.V.
===============================================================================================
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 $1,352,170
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 1,352,170
---------------------------------------------------
Cash and equivalents $150 1,722 $600 $182
Receivables, including unbilled revenue, net 7,355
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 721
----------------------------------------------------
Total current assets 150 9,798 600 182
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 49,273
----------------------------------------------------
Total deferred charges 49,273
----------------------------------------------------
TOTAL ASSETS $150 $1,411,241 $600 $182
====================================================
</TABLE>
<PAGE 128>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC MEC International MEC
India Indonesia Holdings ISE
B.V. B.V. B.V. B.V.
===============================================================================================
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 $3,230 $99
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 3,230 99
---------------------------------------------------
Cash and equivalents $23 35 20 $30
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
----------------------------------------------------
Total current assets 23 35 20 30
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 24
----------------------------------------------------
Total deferred charges 24
----------------------------------------------------
TOTAL ASSETS $23 $3,289 $119 $30
====================================================
</TABLE>
<PAGE 129>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC Mission
Laguna MEC MEC Energy
Power Perth Priolo Asia
B.V. B.V. B.V. Pte. Ltd.
===============================================================================================
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 $284
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $6,264
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 6,264 284
---------------------------------------------------
Cash and equivalents $23 $23 364 26
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 765
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
----------------------------------------------------
Total current assets 23 23 1,129 26
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,350 88
----------------------------------------------------
Total deferred charges 1,350 88
----------------------------------------------------
TOTAL ASSETS $23 $23 $8,743 $398
====================================================
</TABLE>
<PAGE 130>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy Pride
Company Holdings Hold Traraigon
(UK) Ltd. Pty. Ltd. Ltd. Pty.Ltd.
===============================================================================================
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 $192,380 $306
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 15,661 $1
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 208,041 306 1
---------------------------------------------------
Cash and equivalents 19,028 90 3
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 12,735 4,591
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1,542 1
----------------------------------------------------
Total current assets 33,305 4,682 3
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 23,649 1,215
----------------------------------------------------
Total deferred charges 23,649 1,215
----------------------------------------------------
TOTAL ASSETS $264,995 $6,203 $4
====================================================
</TABLE>
<PAGE 131>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC International
International Consolidating B.V.
B.V. Adjustments Consolidated
==========================================================================================
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 $2,792 $16 $1,547,948
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 358,900 (351,570) 32,585
Investments in leveraged leases
Other investments
----------------------------------------------
Total other property and investments 361,692 (351,554) 1,580,533
----------------------------------------------
Cash and equivalents 1,271 (124) 23,466
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 4 25,450
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,264
----------------------------------------------
Total current assets 1,271 (120) 51,180
----------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2,107 1 77,707
----------------------------------------------
Total deferred charges 2,107 1 77,707
----------------------------------------------
TOTAL ASSETS $365,070 ($351,673) $1,709,420
==============================================
</TABLE>
<PAGE 132>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Power Latrobe Loy Yang MEC
Development Power Holdings Esenyuart
Company Pty. Ltd. Pty. Ltd. B.V.
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $50 $30
Retained earnings $(9,078) $5,787
----------------------------------------------------------
50 (9,078) 5,787 30
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 772,862
----------------------------------------------------------
Total capitalization 50 763,784 5,787 30
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 98 45,092 (3,108) 152
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities 98 45,092 (3,108) 152
----------------------------------------------------------
Accumulated deferred income taxes - net (1,422) 106
Accumulated deferred investment tax credits
Customer advances and other deferred credits 4,787 274
----------------------------------------------------------
Total deferred credits 3,365 380
----------------------------------------------------------
Minority interest 2 599,000 (2,459)
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $150 $1,411,241 $600 $182
==========================================================
</TABLE>
PAGE 133
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC MEC International MEC
India Indonesia Holdings ISE
B.V. B.V. B.V. B.V.
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $23 $3,271 $117 $30
Retained earnings 13
-----------------------------------------------------
23 3,284 117 30
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization 23 3,284 117 30
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2
------------------------------------------------------
Accumulated deferred income taxes - net 5
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 5
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $23 $3,289 $119 $30
======================================================
</TABLE>
PAGE 134
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC Mission
Laguna MEC MEC Energy
Power Perth Priolo Asia
B.V. B.V. B.V. Pte. Ltd.
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $23 $23 $6,370 $215
Retained earnings 7 (505)
-----------------------------------------------------
23 23 6,377 (290)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization 23 23 6,377 (290)
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2,362 928
Accrued taxes (271)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2,362 657
------------------------------------------------------
Accumulated deferred income taxes - net 4
Accumulated deferred investment tax credits
Customer advances and other deferred credits 31
------------------------------------------------------
Total deferred credits 4 31
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $23 $23 $8,743 $398
======================================================
</TABLE>
PAGE 135
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy Pride
Company Holdings Hold Traralgon
(UK) Ltd. Pty. Ltd. Ltd. Pty. Ltd.
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $25,859 $157
Retained earnings 4,729 $(364) 168 $1,209
-----------------------------------------------------
30,588 (364) 325 1,209
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 173,666 132
-----------------------------------------------------
Total capitalization 204,254 (232) 325 1,209
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt 16,139
Short-term debt
Accounts payable 28,448 6,787 (310)
Accrued taxes 647 (8)
Accrued interest 6,391
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 51,625 6,787 (318)
------------------------------------------------------
Accumulated deferred income taxes - net 5,727 (401) (1,266)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 1,283 49 (3) 57
------------------------------------------------------
Total deferred credits 7,010 (352) (3) (1,209)
------------------------------------------------------
Minority interest 2,106
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $264,995 $6,203 $4 $0
======================================================
</TABLE>
PAGE 136
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC International
International Consolidated B.V.
B.V. Adjustments Consolidated
=============================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $352,369 $(321,171) $67,366
Retained earnings 3,071 (3,662) 1,375
-------------------------------------------------
355,440 (324,833) 68,741
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 8,661 (285,358) 669,963
-------------------------------------------------
Total capitalization 364,101 (610,191) 738,704
-------------------------------------------------
Other long-term liabilities
-------------------------------------------------
Current portion of long-term debt 16,139
Short-term debt
Accounts payable 903 254,449 335,803
Accrued taxes 1 369
Accrued interest 6,391
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------
Total current liabilities 903 254,450 358,702
--------------------------------------------------
Accumulated deferred income taxes - net 66 (1) 2,818
Accumulated deferred investment tax credits
Customer advances and other deferred credits 466 6,944
--------------------------------------------------
Total deferred credits 66 465 9,762
--------------------------------------------------
Minority interest 3,603 602,252
--------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $365,070 ($351,673) $1,709,420
==================================================
</TABLE>
PAGE 137
<PAGE>
MEC International B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Power Latrobe Loy Yang MEC
Development Power Holdings Esenyuart Company
Pty. Ltd. Pty. Ltd. Pty. Ltd. B.V.
===========================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $165,121
--------------------------------------------------
Total operating revenue 165,121
--------------------------------------------------
Fuel 30,423
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 22,939 $122
Maintenance
Depreciation and decommissioning 32,023
Income taxes (998) (66)
Property and other taxes
--------------------------------------------------
Total operating expenses 84,387 56
--------------------------------------------------
Operating income 80,734 (56)
--------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest (45,205)
Other nonoperating income - net (1,894) 15
--------------------------------------------------
Total other income (deductions) - net (47,099) 15
--------------------------------------------------
Income before interest and other expenses 33,635 (41)
--------------------------------------------------
Interest on long-term debt 80,077 104
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (38,179)
Dividends on subsidiary preferred
securities
--------------------------------------------------
Total interest and other expenses - net 41,898 104
--------------------------------------------------
NET INCOME $(8,263) $(145)
==================================================
</TABLE>
<PAGE 138>
<PAGE>
MEC International B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC MEC International MEC
India Indonesia Holdings ISE
B.V. B.V. B.V. B.V.
================================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------------
Total operating revenue
-------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1
Maintenance
Depreciation and decommissioning
Income taxes (1)
Property and other taxes
-------------------------------------------------------
Total operating expenses 0
-------------------------------------------------------
Operating income
-------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 13
-------------------------------------------------------
Total other income (deductions) - net 13
-------------------------------------------------------
Income before interest and other expenses 13
-------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------------
NET INCOME $13
=======================================================
</TABLE>
<PAGE 139>
<PAGE>
MEC International B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC Mission
Laguna MEC MEC Energy
Power Perth Priolo Asia
B.V. B.V. B.V. Pte Ltd.
==========================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------
Total operating revenue
-------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $679
Maintenance
Depreciation and decommissioning 86
Income taxes (260)
Property and other taxes
-------------------------------------------------
Total operating expenses 505
-------------------------------------------------
Operating income (505)
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-------------------------------------------------
Total other income (deductions) - net
-------------------------------------------------
Income before interest and other expenses (505)
-------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------
NET INCOME $(505)
=================================================
</TABLE>
PAGE 140
<PAGE>
MEC International B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy Pride
Company Holdings Hold Traralgon
(UK) Ltd. Pty Ltd. Ltd. Pty Ltd.
==========================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $49,616
-------------------------------------------------
Total operating revenue 49,616
-------------------------------------------------
Fuel 25,015
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 19,647 $2,070 $2,819
Maintenance
Depreciation and decommissioning 9,146 194
Income taxes (11,180) (933) (887)
Property and other taxes 2,424
-------------------------------------------------
Total operating expenses 45,052 1,331 1,932
-------------------------------------------------
Operating income 4,564 (1,331) (1,932)
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest 954
Other nonoperating income - net 15,372 1,526
-------------------------------------------------
Total other income (deductions) - net 16,326 1,526
-------------------------------------------------
Income before interest and
other expenses 20,890 195 (1,932)
-------------------------------------------------
Interest on long-term debt 17,182 22
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------
Total interest and other expenses - net 17,182 22
-------------------------------------------------
NET INCOME $3,708 $173 $(1,932)
=================================================
</TABLE>
PAGE 141
<PAGE>
MEC International B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC International
International Consolidating B.V.
B.V. Adjustments Consolidated
==========================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $744 $(7,747) $207,734
-------------------------------------------------
Total operating revenue 744 (7,747) 207,734
-------------------------------------------------
Fuel (598) 54,840
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 68 (10,992) 37,353
Maintenance
Depreciation and decommissioning 238 (11,205) 30,482
Income taxes (242) 2,043 (12,524)
Property and other taxes 2,424
-------------------------------------------------
Total operating expenses 64 (20,752) 112,575
-------------------------------------------------
Operating income 680 13,005 95,159
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest (46,159)
Other nonoperating income - net 1,561 (610) 17,891
-------------------------------------------------
Total other income (deductions) - net 1,561 (610) (28,268)
-------------------------------------------------
Income before interest and
other expenses 2,241 12,395 66,891
-------------------------------------------------
Interest on long-term debt 584 4,973 102,942
Other interest expense 1 1
Allowance for borrowed funds used during
construction
Capitalized interest 1,443 (36,736)
Dividends on subsidiary preferred
securities
-------------------------------------------------
Total interest and other expenses - net 584 6,417 66,207
-------------------------------------------------
NET INCOME $1,657 $5,978 $684
=================================================
</TABLE>
PAGE 142
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Asia Asia Power
Mission Ningbo Power Development
China Holdings Development Consolidating Company
Holdings Company Company Adjustments Consolidated
======================================================================================================
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 $98 $(98)
Investments in leveraged leases
Other investments
---------------------------------------------------------
Total other property and investments 98 (98)
---------------------------------------------------------
Cash and equivalents $50 $50 50 $150
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
---------------------------------------------------------
Total current assets 50 50 50 150
---------------------------------------------------------
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 $50 $50 $148 ($98) $150
=========================================================
</TABLE>
<PAGE 143>
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Asia Asia Power
Mission Ningbo Power Development
China Holdings Development Consolidating Company
Holdings Company Company Adjustments Consolidated
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $50 $50 $50 $(100) $50
Retained earnings
----------------------------------------------------------
50 50 50 (100) 50
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------------
Total capitalization 50 50 50 (100) 50
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 98 98
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities 98 98
----------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
----------------------------------------------------------
Total deferred credits
----------------------------------------------------------
Minority interest 2 2
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $50 $50 $148 ($98) $150
==========================================================
</TABLE>
PAGE 144
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Asia Asia Power
Mission Ningbo Power Development
China Holdings Development Consolidating Company
Holdings Company Company Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------------------
Total operating revenue
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses
Maintenance
Depreciation and decommissioning
Income taxes
Property and other taxes
-------------------------------------------------------------
Total operating expenses
-------------------------------------------------------------
Operating income
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-------------------------------------------------------------
Total other income (deductions) - net
-------------------------------------------------------------
Income before interest and other expenses
-------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net
------------------------------------------------------------
NET INCOME
============================================================
</TABLE>
PAGE 145
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
===============================================================================================
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 $1,354,496 $1,227,154
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 1,354,496 1,227,154
---------------------------------------------------
Cash and equivalents 1,722 833
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 7,355 11,271
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 721 132
----------------------------------------------------
Total current assets 9,798 12,236
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 49,273 5,291
----------------------------------------------------
Total deferred charges 49,273 5,291
----------------------------------------------------
TOTAL ASSETS $0 1,413,567 1,244,681
====================================================
</TABLE>
<PAGE 146>
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Latrobe
Latrobe Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
===============================================================================================
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 $(1,229,480) $1,352,170
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments (1,229,480) 1,352,170
---------------------------------------------------
Cash and equivalents (833) 1,722
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (11,271) 7,355
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (132) 721
----------------------------------------------------
Total current assets (12,236) 9,798
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (5,291) 49,273
----------------------------------------------------
Total deferred charges (5,291) 49,273
----------------------------------------------------
TOTAL ASSETS $0 ($1,247,007) $1,411,241
====================================================
</TABLE>
<PAGE 147>
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1,082,370
Retained earnings $(11,564) 127,602
----------------------------------------------------------
(11,564) 1,209,972
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 772,862
----------------------------------------------------------
Total capitalization 761,298 1,209,972
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 45,093 16,595
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities 45,093 16,595
----------------------------------------------------------
Accumulated deferred income taxes - net (3)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,995 18,114
----------------------------------------------------------
Total deferred credits 6,992 18,114
----------------------------------------------------------
Minority interest 600,184
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,413,567 $1,244,681
==========================================================
</TABLE>
PAGE 148
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Latrobe
Latrobe Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $(1,082,370)
Retained earnings $1,355 (126,471) $(9,078)
-----------------------------------------------------
1,355 (1,208,841) (9,078)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 772,862
-----------------------------------------------------
Total capitalization 1,355 (1,208,841) 763,784
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (16,596) 45,092
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (16,596) 45,092
------------------------------------------------------
Accumulated deferred income taxes - net (1,419) (1,422)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 64 (20,386) 4,787
------------------------------------------------------
Total deferred credits (1,355) (20,386) 3,365
------------------------------------------------------
Minority interest (1,184) 599,000
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 ($1,247,007) $1,411,241
======================================================
</TABLE>
PAGE 149
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Income Statements
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $165,121 $165,121
-------------------------------------------------------------
Total operating revenue 165,121 165,121
-------------------------------------------------------------
Fuel 30,423 30,423
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 19,781 18,439
Maintenance
Depreciation and decommissioning 32,023
Income taxes
Property and other taxes
-------------------------------------------------------------
Total operating expenses 82,227 48,862
-------------------------------------------------------------
Operating income 82,894 116,259
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest (45,205)
Other nonoperating income - net (1,890)
-------------------------------------------------------------
Total other income (deductions) - net (47,095)
-------------------------------------------------------------
Income before interest and other expenses 35,799 116,259
-------------------------------------------------------------
Interest on long-term debt 80,077
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (38,179)
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 41,898
------------------------------------------------------------
NET INCOME $0 ($6,099) $116,259
============================================================
</TABLE>
PAGE 150
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Income Statements
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Latrobe
Latrobe Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(165,121) $165,121
-------------------------------------------------------------
Total operating revenue (165,121) 165,121
-------------------------------------------------------------
Fuel (30,423) 30,423
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3,158 (18,439) 22,939
Maintenance
Depreciation and decommissioning 32,023
Income taxes (994) (4) (998)
Property and other taxes
-------------------------------------------------------------
Total operating expenses 2,164 (48,866) 84,387
-------------------------------------------------------------
Operating income (2,164) (116,255) 80,734
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest (45,205)
Other nonoperating income - net (4) (1,894)
-------------------------------------------------------------
Total other income (deductions) - net (4) (47,099)
-------------------------------------------------------------
Income before interest and other expenses (2,164) (116,259) 33,635
-------------------------------------------------------------
Interest on long-term debt 80,077
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (38,179)
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 41,898
------------------------------------------------------------
NET INCOME ($2,164) ($116,259) ($8,263)
============================================================
</TABLE>
PAGE 151
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Energy
Latrobe Energy Ventures
Power Australia Australia
Pty. Ltd. Ltd. Pty. Ltd.
===============================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments
---------------------------------------------------
Cash and equivalents $600
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
----------------------------------------------------
Total current assets 600
----------------------------------------------------
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 $600
====================================================
</TABLE>
<PAGE 152>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Loy Yang
Traraigon Holdings
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
===============================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments
---------------------------------------------------
Cash and equivalents $600
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
----------------------------------------------------
Total current assets 600
----------------------------------------------------
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 $600
====================================================
</TABLE>
<PAGE 153>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Energy
Latrobe Energy Ventures
Power Australia Australia
Pty. Ltd. Ltd. Pty. Ltd.
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $(14)
Retained earnings 6,059 $26
----------------------------------------------------------
6,045 26
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------------
Total capitalization 6,045 26
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (3,108)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities (3,108)
----------------------------------------------------------
Accumulated deferred income taxes - net 133 (27)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 14 1
----------------------------------------------------------
Total deferred credits 147 (26)
----------------------------------------------------------
Minority interest (2,484)
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $600 $0
==========================================================
</TABLE>
PAGE 154
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Loy Yang
Traraigon Holdings
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $14
Retained earnings (298) $5,787
-----------------------------------------------------
(284) 5,787
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization (284) 5,787
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (3,108)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (3,108)
------------------------------------------------------
Accumulated deferred income taxes - net 106
Accumulated deferred investment tax credits
Customer advances and other deferred credits 259 274
------------------------------------------------------
Total deferred credits 259 380
------------------------------------------------------
Minority interest 25 (2,459)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $600
======================================================
</TABLE>
PAGE 155
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Income Statements
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Energy
Latrobe Energy Ventures
Power Australia Australia
Pty. Ltd. Ltd. Pty. Ltd.
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------------------
Total operating revenue
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $61 $60
Maintenance
Depreciation and decommissioning
Income taxes (47) (19)
Property and other taxes
-------------------------------------------------------------
Total operating expenses 14 41
-------------------------------------------------------------
Operating income (14) (41)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 15
-------------------------------------------------------------
Total other income (deductions) - net 15
-------------------------------------------------------------
Income before interest and other expenses 1 (41)
-------------------------------------------------------------
Interest on long-term debt 103
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 103
------------------------------------------------------------
NET INCOME ($102) ($41)
============================================================
</TABLE>
PAGE 156
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Income Statements
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Loy Yang
Traraigon Holdings
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------------------
Total operating revenue
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1 $122
Maintenance
Depreciation and decommissioning
Income taxes (66)
Property and other taxes
-------------------------------------------------------------
Total operating expenses 1 56
-------------------------------------------------------------
Operating income (1) (56)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 15
-------------------------------------------------------------
Total other income (deductions) - net 15
-------------------------------------------------------------
Income before interest and other expenses (1) (41)
-------------------------------------------------------------
Interest on long-term debt 1 104
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 104
------------------------------------------------------------
NET INCOME ($2) ($145)
============================================================
</TABLE>
<PAGE 157>
<PAGE>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
===============================================================================================
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 $1,354,496 $1,227,154
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 1,354,496 1,227,154
---------------------------------------------------
Cash and equivalents 1,722 833
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 7,355 11,272
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 721 132
----------------------------------------------------
Total current assets 9,798 12,237
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 49,273 5,291
----------------------------------------------------
Total deferred charges 49,273 5,291
----------------------------------------------------
TOTAL ASSETS $1,413,567 $1,244,682
====================================================
</TABLE>
<PAGE 158>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Latrobe
Latrobe Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
===============================================================================================
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 $(2,581,650)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments (2,581,650)
---------------------------------------------------
Cash and equivalents (2,555)
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (18,627)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (853)
----------------------------------------------------
Total current assets (22,035)
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (54,564)
----------------------------------------------------
Total deferred charges (54,564)
----------------------------------------------------
TOTAL ASSETS ($2,658,249)
====================================================
</TABLE>
<PAGE 159>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1,082,370
Retained earnings $(11,564) 127,602
----------------------------------------------------------
(11,564) 1,209,972
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 772,862
----------------------------------------------------------
Total capitalization 761,298 1,209,972
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 45,093 16,595
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities 45,093 16,595
----------------------------------------------------------
Accumulated deferred income taxes - net (3)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,995 18,115
----------------------------------------------------------
Total deferred credits 6,992 18,115
----------------------------------------------------------
Minority interest 600,184
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,413,567 $1,244,682
==========================================================
</TABLE>
<PAGE 160>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Latrobe
Latrobe Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $(1,082,370)
Retained earnings $1,355 (117,393)
-----------------------------------------------------
1,355 (1,199,763)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (772,862)
-----------------------------------------------------
Total capitalization 1,355 (1,972,625)
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (61,688)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (61,688)
------------------------------------------------------
Accumulated deferred income taxes - net (1,419) 1,422
Accumulated deferred investment tax credits
Customer advances and other deferred credits 64 (25,174)
------------------------------------------------------
Total deferred credits (1,355) (23,752)
------------------------------------------------------
Minority interest (600,184)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 ($2,658,249)
======================================================
</TABLE>
<PAGE 161>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $165,121 $165,121
-------------------------------------------------------------
Total operating revenue 165,121 165,121
-------------------------------------------------------------
Fuel 30,423 30,423
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 19,781 18,440
Maintenance
Depreciation and decommissioning 32,023
Income taxes
Property and other taxes
-------------------------------------------------------------
Total operating expenses 82,227 48,863
-------------------------------------------------------------
Operating income 82,894 116,258
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest (45,205)
Other nonoperating income - net (1,890)
-------------------------------------------------------------
Total other income (deductions) - net (47,095)
-------------------------------------------------------------
Income before interest and other expenses 35,799 116,258
-------------------------------------------------------------
Interest on long-term debt 80,077
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (38,179)
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 41,898
------------------------------------------------------------
NET INCOME (6,099) $116,258
============================================================
</TABLE>
<PAGE 162>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Latrobe
Latrobe Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(330,242)
-------------------------------------------------------------
Total operating revenue (330,242)
-------------------------------------------------------------
Fuel (60,846)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3,158 (41,379)
Maintenance
Depreciation and decommissioning (32,023)
Income taxes (994) 994
Property and other taxes
-------------------------------------------------------------
Total operating expenses 2,164 (133,254)
-------------------------------------------------------------
Operating income (2,164) (196,988)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 45,205
Minority interest 1,890
Other nonoperating income - net
-------------------------------------------------------------
Total other income (deductions) - net 47,095
-------------------------------------------------------------
Income before interest and other expenses (2,164) (149,893)
-------------------------------------------------------------
Interest on long-term debt (80,077)
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest 38,179
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net (41,898)
------------------------------------------------------------
NET INCOME ($2,164) ($107,995)
============================================================
</TABLE>
<PAGE 163>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Energy
Energy Latrobe Australia
Australia Power Loy Yang B Consolidating Pty. Ltd.
Pty. Ltd. Partnership Joint Venture Adjustments Consolidated
=======================================================================================================
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 $1,354,496 $1,227,154 $(2,581,650)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-----------------------------------------------------------
Total other property and investments 1,354,496 1,227,154 (2,581,650)
-----------------------------------------------------------
Cash and equivalents $600 1,722 833 (2,555) $600
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 7,355 11,272 (18,627)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 721 132 (853)
-----------------------------------------------------------
Total current assets 600 9,798 12,237 (22,035) 600
-----------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 49,273 5,291 (54,564)
-----------------------------------------------------------
Total deferred charges 49,273 5,291 (54,564)
-----------------------------------------------------------
TOTAL ASSETS $600 $1,413,567 $1,244,682 (2,658,249) 600
===========================================================
</TABLE>
<PAGE 164>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Energy
Energy Latrobe Australia
Australia Power Loy Yang B Consolidating Pty. Ltd.
Pty. Ltd. Partnership Joint Venture Adjustments Consolidated
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $(14) $1,082,370 $(1,082,370) $(14)
Retained earnings 6,059 $(11,564) 127,602 (116,038) 6,059
----------------------------------------------------------
6,045 (11,564) 1,209,972 (1,198,408) 6,045
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 772,862 (772,862)
----------------------------------------------------------
Total capitalization 6,045 761,298 1,209,972 (1,971,270) 6,045
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (3,108) 45,093 16,595 (61,688) (3,108)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities (3,108) 45,093 16,595 (61,688) (3,108)
----------------------------------------------------------
Accumulated deferred income taxes - net 133 (3) 3 133
Accumulated deferred investment tax credits
Customer advances and other deferred credits 14 6,995 18,115 (25,110) 14
----------------------------------------------------------
Total deferred credits 147 6,992 18,115 (25,107) 147
----------------------------------------------------------
Minority interest (2,484) 600,184 (600,184) (2,484)
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $600 $1,413,567 $1,244,682 ($2,658,249) 600
==========================================================
</TABLE>
<PAGE 165>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Australia Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Energy
Energy Latrobe Australia
Australia Power Loy Yang B Consolidating Pty. Ltd.
Pty. Ltd. Partnership Joint Venture Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $165,121 $165,121 $(330,242) $0
-------------------------------------------------------------
Total operating revenue 165,121 165,121 (330,242)
-------------------------------------------------------------
Fuel 30,423 30,423 (60,846)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $61 19,781 18,440 (38,221) 61
Maintenance
Depreciation and decommissioning 32,023 (32,023)
Income taxes (47) (47)
Property and other taxes
-------------------------------------------------------------
Total operating expenses 14 82,227 48,863 (131,090) 14
-------------------------------------------------------------
Operating income (14) 82,894 116,258 (199,152) (14)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest (45,205) 45,205
Other nonoperating income - net 15 (1,890) 1,890 15
-------------------------------------------------------------
Total other income (deductions) - net 15 (47,095) 47,095 15
-------------------------------------------------------------
Income before interest and other expenses 1 35,799 116,258 (152,057) 1
-------------------------------------------------------------
Interest on long-term debt 103 80,077 (80,077) 103
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (38,179) 38,179
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 103 41,898 (41,898) 103
------------------------------------------------------------
NET INCOME ($102) ($6,099) $116,258 ($110,159) ($102)
============================================================
</TABLE>
<PAGE 166>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
===============================================================================================
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 $1,354,496 $1,227,154
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 1,354,496 1,227,154
---------------------------------------------------
Cash and equivalents 1,722 833
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 7,355 11,272
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 721 132
----------------------------------------------------
Total current assets 9,798 12,237
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 49,273 5,291
----------------------------------------------------
Total deferred charges 49,273 5,291
----------------------------------------------------
TOTAL ASSETS $1,413,567 $1,244,682
====================================================
</TABLE>
<PAGE 167>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Ventures
Consolidating Australia
Adjustments 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 $(2,581,650)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments (2,581,650)
---------------------------------------------------
Cash and equivalents (2,555)
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (18,627)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (853)
----------------------------------------------------
Total current assets (22,035)
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (54,564)
----------------------------------------------------
Total deferred charges (54,564)
----------------------------------------------------
TOTAL ASSETS ($2,658,249)
====================================================
</TABLE>
<PAGE 168>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1,082,370
Retained earnings $(11,564) 127,602
----------------------------------------------------------
(11,564) 1,209,972
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 772,862
----------------------------------------------------------
Total capitalization 761,298 1,209,972
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 45,093 16,595
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities 45,093 16,595
----------------------------------------------------------
Accumulated deferred income taxes - net (3)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,995 18,115
----------------------------------------------------------
Total deferred credits 6,992 18,115
----------------------------------------------------------
Minority interest 600,184
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,413,567 $1,244,682
==========================================================
</TABLE>
<PAGE 169>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Ventures
Consolidating Australia
Adjustments Pty. Ltd.
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $(1,082,370)
Retained earnings (116,012) $26
-----------------------------------------------------
(1,198,382) 26
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (772,862)
-----------------------------------------------------
Total capitalization (1,971,244) 26
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (61,688)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (61,688)
------------------------------------------------------
Accumulated deferred income taxes - net (24) (27)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (25,109) 1
------------------------------------------------------
Total deferred credits (25,133) (26)
------------------------------------------------------
Minority interest (600,184)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($2,658,249) $0
======================================================
</TABLE>
<PAGE 170>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $165,121 $165,121
-------------------------------------------------------------
Total operating revenue 165,121 165,121
-------------------------------------------------------------
Fuel 30,423 30,423
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 19,781 18,440
Maintenance
Depreciation and decommissioning 32,023
Income taxes
Property and other taxes
-------------------------------------------------------------
Total operating expenses 82,227 48,863
-------------------------------------------------------------
Operating income 82,894 116,258
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest (45,205)
Other nonoperating income - net (1,890)
-------------------------------------------------------------
Total other income (deductions) - net (47,095)
-------------------------------------------------------------
Income before interest and other expenses 35,799 116,258
-------------------------------------------------------------
Interest on long-term debt 80,077
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (38,179)
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 41,898
------------------------------------------------------------
NET INCOME ($6,099) $116,258
============================================================
</TABLE>
<PAGE 171>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Ventures
Consolidating Australia
Adjustments Pty. Ltd.
======================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $(330,242) $0
-------------------------------------------------------------
Total operating revenue (330,242) 0
-------------------------------------------------------------
Fuel (60,846)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses (38,161) 60
Maintenance
Depreciation and decommissioning (32,023)
Income taxes (19) (19)
Property and other taxes
-------------------------------------------------------------
Total operating expenses (131,049) 41
-------------------------------------------------------------
Operating income (199,193) (41)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest 45,205
Other nonoperating income - net 1,890
-------------------------------------------------------------
Total other income (deductions) - net 47,095
-------------------------------------------------------------
Income before interest and other expenses (152,098) (41)
-------------------------------------------------------------
Interest on long-term debt (80,077)
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest 38,179
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net (41,898)
------------------------------------------------------------
NET INCOME ($110,200) ($41)
============================================================
</TABLE>
<PAGE 172>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
===============================================================================================
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 $1,354,496 $1,227,154
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 1,354,496 1,227,154
---------------------------------------------------
Cash and equivalents 1,722 833
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 7,355 11,272
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 721 132
----------------------------------------------------
Total current assets 9,798 12,237
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 49,273 5,291
----------------------------------------------------
Total deferred charges 49,273 5,291
----------------------------------------------------
TOTAL ASSETS $1,413,567 $1,244,682
====================================================
</TABLE>
<PAGE 173>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Traralgon
Traralgon Power
Power Consolidating Pty.Ltd.
Pty. Ltd. Adjustments Consolidated
===============================================================================================
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 $(2,581,650)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments (2,581,650)
---------------------------------------------------
Cash and equivalents (2,555)
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (18,627)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (853)
----------------------------------------------------
Total current assets (22,035)
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (54,564)
----------------------------------------------------
Total deferred charges (54,564)
----------------------------------------------------
TOTAL ASSETS ($2,658,249)
====================================================
</TABLE>
<PAGE 174>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1,082,370
Retained earnings $(11,564) 127,602
----------------------------------------------------------
(11,564) 1,209,972
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 772,862
----------------------------------------------------------
Total capitalization 761,298 1,209,972
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 45,093 16,595
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities 45,093 16,595
----------------------------------------------------------
Accumulated deferred income taxes - net (3)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,995 18,115
----------------------------------------------------------
Total deferred credits 6,992 18,115
----------------------------------------------------------
Minority interest 600,184
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,413,567 $1,244,682
==========================================================
</TABLE>
<PAGE 175>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Traralgon
Traralgon Power
Power Consolidating Pty.Ltd.
Pty. Ltd. Adjustments Consolidated
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $(1,082,370)
Retained earnings $1,209 (117,247)
-----------------------------------------------------
1,209 (1,199,617)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (772,862)
-----------------------------------------------------
Total capitalization 1,209 (1,972,479)
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (61,688)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (61,688)
------------------------------------------------------
Accumulated deferred income taxes - net (1,267) 1,270
Accumulated deferred investment tax credits
Customer advances and other deferred credits 58 (25,168)
------------------------------------------------------
Total deferred credits (1,209) (23,898)
------------------------------------------------------
Minority interest (600,184)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($0) ($2,658,249)
======================================================
</TABLE>
<PAGE 176>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $165,121 $165,121
-------------------------------------------------------------
Total operating revenue 165,121 165,121
-------------------------------------------------------------
Fuel 30,423 30,423
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 19,781 18,440
Maintenance
Depreciation and decommissioning 32,023
Income taxes
Property and other taxes
-------------------------------------------------------------
Total operating expenses 82,227 48,863
-------------------------------------------------------------
Operating income 82,894 116,258
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest (45,205)
Other nonoperating income - net (1,890)
-------------------------------------------------------------
Total other income (deductions) - net (47,095)
-------------------------------------------------------------
Income before interest and other expenses 35,799 116,258
-------------------------------------------------------------
Interest on long-term debt 80,077
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (38,179)
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 41,898
------------------------------------------------------------
NET INCOME ($6,099) $116,258
============================================================
</TABLE>
<PAGE 177>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Traralgon
Traralgon Power
Power Consolidating Pty.Ltd.
Pty. Ltd. Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(330,242)
-------------------------------------------------------------
Total operating revenue (330,242)
-------------------------------------------------------------
Fuel (60,846)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $2,819 (41,040)
Maintenance
Depreciation and decommissioning (32,023)
Income taxes (887) 887
Property and other taxes
-------------------------------------------------------------
Total operating expenses 1,932 (133,022)
-------------------------------------------------------------
Operating income (1,932) (197,220)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest 45,205
Other nonoperating income - net 1,890
-------------------------------------------------------------
Total other income (deductions) - net 47,095
-------------------------------------------------------------
Income before interest and other expenses (1,932) (150,125)
-------------------------------------------------------------
Interest on long-term debt (80,077)
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest 38,179
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net (41,898)
------------------------------------------------------------
NET INCOME ($1,932) ($108,227)
============================================================
</TABLE>
<PAGE 178>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Power
Development MEC MEC MEC
Company Esenyurt India Indonesia
Consolidated B.V. B.V. B.V.
===============================================================================================
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 $3,230
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 3,230
---------------------------------------------------
Cash and equivalents $182 $23 35
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
----------------------------------------------------
Total current assets 182 23 35
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 24
----------------------------------------------------
Total deferred charges 24
----------------------------------------------------
TOTAL ASSETS $182 $23 $3,289
====================================================
</TABLE>
<PAGE 179>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC MEC
ISE Laguna Power Perth Priolo
B.V. B.V. B.V. B.V.
===============================================================================================
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 $6,264
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 6,264
---------------------------------------------------
Cash and equivalents $30 $23 $23 364
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 765
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
----------------------------------------------------
Total current assets 30 23 23 1,129
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,350
----------------------------------------------------
Total deferred charges 1,350
----------------------------------------------------
TOTAL ASSETS $30 $23 $23 $8,743
====================================================
</TABLE>
<PAGE 180>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission MEC
Ningbo International
Holdings Consolidating Holdings B.V.
Company Adjustments Consolidated
==========================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $(9,395) $99
Investments in leveraged leases
Other investments
----------------------------------------------
Total other property and investments (9,395) 99
----------------------------------------------
Cash and equivalents $50 (710) 20
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (765)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
----------------------------------------------
Total current assets 50 (1,475) 20
----------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (1,374)
----------------------------------------------
Total deferred charges (1,374)
----------------------------------------------
TOTAL ASSETS $50 $(12,244) $119
==============================================
</TABLE>
<PAGE 181>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Power
Development MEC MEC MEC
Company Esenyurt India Indonesia
Consolidated B.V. B.V. B.V.
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $30 $23 $3,271
Retained earnings 13
-----------------------------------------------------
30 23 3,284
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization 30 23 3,284
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 152
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 152
------------------------------------------------------
Accumulated deferred income taxes - net 5
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 5
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $182 $23 $3,289
======================================================
</TABLE>
<PAGE 182>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC MEC
ISE Laguna Power Perth Priolo
B.V. B.V. B.V. B.V.
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $30 $23 $23 $6,370
Retained earnings 7
-----------------------------------------------------
30 23 23 6,377
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------
Total capitalization 30 23 23 6,377
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2,362
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2,362
------------------------------------------------------
Accumulated deferred income taxes - net 4
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 4
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $30 $23 $23 $8,743
======================================================
</TABLE>
<PAGE 183>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission MEC
Ningbo International
Holdings Consolidating Holdings B.V.
Company Adjustments Consolidated
=============================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $50 $(9,703) $117
Retained earnings (20)
-------------------------------------------------
50 (9,723) 117
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-------------------------------------------------
Total capitalization 50 (9,723) 117
-------------------------------------------------
Other long-term liabilities
-------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (2,512) 2
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------
Total current liabilities (2,512) 2
--------------------------------------------------
Accumulated deferred income taxes - net (9)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------------------------------
Total deferred credits (9)
--------------------------------------------------
Minority interest
--------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $50 $(12,244) $119
==================================================
</TABLE>
<PAGE 184>
<PAGE>
MEC International Holdings B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Power
Development MEC MEC MEC
Company Esenyurt India Indonesia
Consolidated B.V. B.V. B.V.
==========================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------
Total operating revenue
-------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses
Maintenance
Depreciation and decommissioning
Income taxes
Property and other taxes
-------------------------------------------------
Total operating expenses
-------------------------------------------------
Operating income
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-------------------------------------------------
Total other income (deductions) - net
-------------------------------------------------
Income before interest and other expenses
-------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------
NET INCOME
=================================================
</TABLE>
<PAGE 185>
<PAGE>
MEC International Holdings B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC MEC
ISE Laguna Power Perth Priolo
B.V. B.V. B.V. B.V.
==========================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------
Total operating revenue
-------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses
Maintenance
Depreciation and decommissioning
Income taxes
Property and other taxes
-------------------------------------------------
Total operating expenses
-------------------------------------------------
Operating income
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-------------------------------------------------
Total other income (deductions) - net
-------------------------------------------------
Income before interest and other expenses
-------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------
NET INCOME
=================================================
</TABLE>
<PAGE 186>
<PAGE>
MEC International Holdings B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission MEC
Ningbo International
Holdings Consolidating Holdings B.V.
Company Adjustments Consolidated
==========================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------
Total operating revenue
-------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses
Maintenance
Depreciation and decommissioning
Income taxes
Property and other taxes
-------------------------------------------------
Total operating expenses
-------------------------------------------------
Operating income
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-------------------------------------------------
Total other income (deductions) - net
-------------------------------------------------
Income before interest and other expenses
-------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------
NET INCOME
=================================================
</TABLE>
<PAGE 187>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Mission Asia Power
Mission Ningbo Power Development
China Holdings Development Consolidating Company
Holdings Company Company Adjustments Consolidated
=======================================================================================================
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 $ 98 $ (98)
Investments in leveraged leases
Other investments
-------------------------------------------------------------
Total other property and investments 98 (98)
-------------------------------------------------------------
Cash and equivalents $50 $50 50 (150)
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
-------------------------------------------------------------
Total current assets 50 50 50 (150)
-------------------------------------------------------------
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 $50 $50 $148 $(248)
=============================================================
</TABLE>
<PAGE 188>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Mission Asia Power
Mission Ningbo Power Development
China Holdings Development Consolidating Company
Holdings Company Company Adjustments Consolidated
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $ 50 $50 $50 $(150)
Retained earnings
----------------------------------------------------------
50 50 50 (150)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------------
Total capitalization 50 50 50 (150)
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 98 (98)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities 98 (98)
----------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits
----------------------------------------------------------
Total deferred credits
----------------------------------------------------------
Minority interest __________________________________________________________
TOTAL CAPITALIZATION AND LIABILITIES $50 $50 $148 $(248)
==========================================================
</TABLE>
<PAGE 189>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Asia
Mission Asia Power
Mission Ningbo Power Development
China Holdings Development Consolidating Company
Holdings Company Company Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------------------
Total operating revenue
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses
Maintenance
Depreciation and decommissioning
Income taxes
Property and other taxes
-------------------------------------------------------------
Total operating expenses
-------------------------------------------------------------
Operating income
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-------------------------------------------------------------
Total other income (deductions) - net
-------------------------------------------------------------
Income before interest and other expenses
-------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net
------------------------------------------------------------
NET INCOME
============================================================
</TABLE>
<PAGE 190>
<PAGE>
MEC International B.V.
Mission Energy Company (UK)
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy (No 2) Pride
Limited Services Limited Hold Ltd.
(UK) Limited (UK) (UK) 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 $1,883 $166,804
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
---------------------------------------------------
Total other property and investments 1,883 166,804
---------------------------------------------------
Cash and equivalents 1,119 $31 11,899
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1,309 11,491
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 423 (102) 1,355
----------------------------------------------------
Total current assets 1,542 1,238 24,745
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 38 1 23,181
----------------------------------------------------
Total deferred charges 38 1 23,181
----------------------------------------------------
TOTAL ASSETS $3,463 $1,239 $214,730
====================================================
</TABLE>
<PAGE 191>
<PAGE>
MEC International B.V.
Mission Energy Company (UK)
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Mission Energy Company
Company Consolidating (UK) Ltd.
(UK) Ltd. Adjustments Consolidated
==========================================================================================
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 $28,079 $(4,386) $192,380
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 15,969 (308) 15,661
Investments in leveraged leases
Other investments
----------------------------------------------
Total other property and investments 44,048 (4,694) 208,041
----------------------------------------------
Cash and equivalents 5,980 (1) 19,028
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (65) 12,735
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (134) 1,542
----------------------------------------------
Total current assets 5,980 (200) 33,305
----------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 19,328 (18,899) 23,649
----------------------------------------------
Total deferred charges 19,328 (18,899) 23,649
----------------------------------------------
TOTAL ASSETS $69,356 ($23,793) $264,995
==============================================
</TABLE>
<PAGE 192>
<PAGE>
MEC International B.V.
Mission Energy Company (UK)
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy (No 2) Pride
Limited Services Limited Hold Ltd.
(UK) Limited (UK) (UK) Consolidated
=================================================================================================
CAPITALIZATION AND LIABILITIES
=================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $ 187
Retained earnings $492 $44 8,605
-----------------------------------------------------
492 44 8,792
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 157,631
-----------------------------------------------------
Total capitalization 492 44 166,423
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt 20,222
Short-term debt
Accounts payable 2,924 1,160 13,648
Accrued taxes 12 36 587
Accrued interest 6,391
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2,936 1,196 40,848
------------------------------------------------------
Accumulated deferred income taxes - net 45 5,643
Accumulated deferred investment tax credits
Customer advances and other deferred credits (10) (1) (205)
------------------------------------------------------
Total deferred credits 35 (1) 5,438
------------------------------------------------------
Minority interest 2,021
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $3,463 $1,239 $214,730
======================================================
</TABLE>
<PAGE 193>
<PAGE>
MEC International B.V.
Mission Energy Company (UK)
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Mission Energy Company
Company Consolidating (UK) Ltd.
(UK) Ltd. Adjustments Consolidated
=============================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $25,858 $(186) $25,859
Retained earnings 341 (4,753) 4,729
-------------------------------------------------
26,199 (4,939) 30,588
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 32,113 (16,078) 173,666
-------------------------------------------------
Total capitalization 58,312 (21,017) 204,254
-------------------------------------------------
Other long-term liabilities
-------------------------------------------------
Current portion of long-term debt (4,083) 16,139
Short-term debt
Accounts payable 10,171 545 28,448
Accrued taxes (6) 18 647
Accrued interest 6,391
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------------------------------
Total current liabilities 10,165 (3,520) 51,625
--------------------------------------------------
Accumulated deferred income taxes - net 769 (730) 5,727
Accumulated deferred investment tax credits
Customer advances and other deferred credits 110 1,389 1,283
--------------------------------------------------
Total deferred credits 879 659 7,010
--------------------------------------------------
Minority interest 85 2,106
--------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $69,356 ($23,793) $264,995
==================================================
</TABLE>
<PAGE 194>
<PAGE>
MEC International B.V.
Mission Energy Company (UK)
Consolidating Income Statement
For the Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy (No 2) Pride
Limited Services Limited Hold Ltd.
(UK) Limited (UK) (UK) Consolidated
==========================================================================================
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $50,419
-------------------------------------------------
Total operating revenue 50,419
-------------------------------------------------
Fuel 25,371
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $6,214 $38 13,398
Maintenance
Depreciation and decommissioning 390 7,668
Income taxes (2,807) (26) (7,491)
Property and other taxes 431 1,936
-------------------------------------------------
Total operating expenses 4,228 12 40,882
-------------------------------------------------
Operating income (4,228) (12) 9,537
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest 954
Other nonoperating income - net 4,347 62 10,906
-------------------------------------------------
Total other income (deductions) - net 4,347 62 11,860
-------------------------------------------------
Income before interest and other expenses 119 50 21,397
-------------------------------------------------
Interest on long-term debt 17,502
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------
Total interest and other expenses - net 17,502
-------------------------------------------------
NET INCOME $119 $50 $3,895
=================================================
</TABLE>
<PAGE 195>
<PAGE>
MEC International B.V.
Mission Energy Company (UK)
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Mission Energy Company
Company Consolidating (UK) Ltd.
(UK) Ltd. Adjustments Consolidated
==========================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(803) $49,616
-------------------------------------------------
Total operating revenue (803) 49,616
-------------------------------------------------
Fuel (356) 25,015
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $27 (30) 19,647
Maintenance
Depreciation and decommissioning 1,294 (206) 9,146
Income taxes (1,044) 188 (11,180)
Property and other taxes 57 2,424
-------------------------------------------------
Total operating expenses 277 (347) 45,052
-------------------------------------------------
Operating income (277) (456) 4,564
-------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest 954
Other nonoperating income - net 1,390 (1,333) 15,372
-------------------------------------------------
Total other income (deductions) - net 1,390 (1,333) 16,326
-------------------------------------------------
Income before interest and
other expenses 1,113 (1,789) 20,890
-------------------------------------------------
Interest on long-term debt 2,249 (2,569) 17,182
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------
Total interest and other expenses - net 2,249 (2,569) 17,182
-------------------------------------------------
NET INCOME ($1,136) $780 $3,708
=================================================
</TABLE>
<PAGE 196>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.)
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Lakeland Pride
Pride Lakeland Power Hold
Hold Power Development Consolidating Ltd.
Ltd. Ltd. Company Adjustments Consolidated
=======================================================================================================
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 $66,804 $166,804
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $1 $(1)
Investments in leveraged leases
Other investments
-----------------------------------------------------------
Total other property and investments 1 166,804 (1) 166,804
-----------------------------------------------------------
Cash and equivalents 3 11,893 $3 11,899
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 11,368 204 (81) 11,491
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1,355 1,355
-----------------------------------------------------------
Total current assets 3 24,616 207 (81) 24,745
-----------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 23,181 23,181
-----------------------------------------------------------
Total deferred charges 23,181 23,181
-----------------------------------------------------------
TOTAL ASSETS $4 $214,601 $207 ($82) $214,730
===========================================================
</TABLE>
<PAGE 197>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.)
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Lakeland Pride
Pride Lakeland Power Hold
Hold Power Development Consolidating Ltd.
Ltd. Ltd. Company Adjustments Consolidated
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $157 $2 $28 $187
Retained earnings 168 10,309 $190 (2,062) 8,605
----------------------------------------------------------
325 10,311 190 (2,034) 8,792
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 157,631 157,631
----------------------------------------------------------
Total capitalization 325 167,942 190 (2,034) 166,423
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt 20,222 20,222
Short-term debt
Accounts payable (310) 14,017 21 (80) 13,648
Accrued taxes (8) 595 587
Accrued interest 6,391 6,391
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities (318) 41,225 21 (80) 40,848
----------------------------------------------------------
Accumulated deferred income taxes - net 5,643 5,643
Accumulated deferred investment tax credits
Customer advances and other deferred credits (3) (209) (4) 11 (205)
----------------------------------------------------------
Total deferred credits (3) 5,434 (4) 11 5,438
----------------------------------------------------------
Minority interest 2,021 2,021
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $4 $214,601 $207 ($82) $214,730
==========================================================
</TABLE>
<PAGE 198>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.)
Pride Hold Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Lakeland Pride
Pride Lakeland Power Hold
Hold Power Development Consolidating Ltd.
Ltd. Ltd. Company Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $50,419 $50,419
-------------------------------------------------------------
Total operating revenue 50,419 50,419
-------------------------------------------------------------
Fuel 25,371 25,371
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1,657 13,386 $4 $(1,649) 13,398
Maintenance
Depreciation and decommissioning 7,668 7,668
Income taxes (679) (6,803) (8) (1) (7,491)
Property and other taxes 1,936 1,936
-------------------------------------------------------------
Total operating expenses 978 41,558 (4) (1,650) 40,882
-------------------------------------------------------------
Operating income (978) 8,861 4 1,650 9,537
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest 954 954
Other nonoperating income - net 989 12,530 5 (2,618) 10,906
-------------------------------------------------------------
Total other income (deductions) - net 989 13,484 5 (2,618) 11,860
-------------------------------------------------------------
Income before interest and other expenses 11 22,345 9 (968) 21,397
-------------------------------------------------------------
Interest on long-term debt 17,502 17,502
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 17,502 17,502
------------------------------------------------------------
NET INCOME $11 $4,843 $9 ($968) $3,895
============================================================
</TABLE>
<PAGE 199>
<PAGE>
MEC International B.V.
Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy Mission Mission Energy
Development Management Energy Holdings
Australia Australia Holdings Superannuatio Consolidating
Pty. Ltd. Pty. Ltd. Pty. Ltd. Fund Pty. Ltd. 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 $306
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
----------------------------------------------------------------
Total other property and investments 306
----------------------------------------------------------------
Cash and equivalents $35 55
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 674 3,917
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1
----------------------------------------------------------------
Total current assets 709 3,973
----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,215
----------------------------------------------------------------
Total deferred charges 1,215
----------------------------------------------------------------
TOTAL ASSETS $709 $5,494
================================================================
</TABLE>
<PAGE 200>
<PAGE>
MEC International B.V.
Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy
Holdings
Pty. Ltd.
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 $306
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-----------------------------------------------------------
Total other property and investments 306
-----------------------------------------------------------
Cash and equivalents 90
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 4,591
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1
-----------------------------------------------------------
Total current assets 4,682
-----------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,215
-----------------------------------------------------------
Total deferred charges 1,215
-----------------------------------------------------------
TOTAL ASSETS $6,203
===========================================================
</TABLE>
<PAGE 201>
<PAGE>
MEC International B.V.
Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy Mission Energy
Development Management Energy Holdings
Australia Australia Holdings Superannuatio Consolidating
Pty. Ltd. Pty. Ltd. Pty. Ltd. Fund Pty. Ltd. Adjustments
========================================================================================================
CAPITALIZATION AND LIABILITIES
=========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock
Retained earnings $379 $(743)
-------------------------------------------------------------
379 (743)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 132
-------------------------------------------------------------
Total capitalization 379 (611)
-------------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 234 6,553
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------------------------------------------------------
Total current liabilities 234 6,553
-------------------------------------------------------------
Accumulated deferred income taxes - net (401)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 96 (47)
-------------------------------------------------------------
Total deferred credits 96 (448)
-------------------------------------------------------------
Minority interest
-------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $709 $5,494
=============================================================
</TABLE>
<PAGE 202>
<PAGE>
MEC International B.V.
Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Holdings
Pty. Ltd.
Consolidated
========================================================================================================
CAPITALIZATION AND LIABILITIES
=========================================================================================================
<S> <C>
Common shareholders' equity:
Common stock
Retained earnings $(364)
-------------------------------------------------------------
(364)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 132
-------------------------------------------------------------
Total capitalization (232)
-------------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 6,787
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
-------------------------------------------------------------
Total current liabilities 6,787
-------------------------------------------------------------
Accumulated deferred income taxes - net (401)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 49
-------------------------------------------------------------
Total deferred credits (352)
-------------------------------------------------------------
Minority interest
-------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $6,203
=============================================================
</TABLE>
<PAGE 203>
<PAGE>
MEC International B.V.
Mission Energy Holdings Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy Mission Mission Energy
Development Management Energy Holdings
Australia Australia Holdings Superannuatio Consolidating
Pty. Ltd. Pty. Ltd. Pty. Ltd. Fund Pty. Ltd. Adjustments
======================================================================================================
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------------------
Total operating revenue
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1,771 $299
Maintenance
Depreciation and decommissioning 194
Income taxes (777) (156)
Property and other taxes
-------------------------------------------------------------
Total operating expenses 994 337
-------------------------------------------------------------
Operating income (994) (337)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 1,518 8
-------------------------------------------------------------
Total other income (deductions) - net 1,518 8
-------------------------------------------------------------
Income before interest and other expenses 524 (329)
-------------------------------------------------------------
Interest on long-term debt 22
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 22
------------------------------------------------------------
NET INCOME $524 ($351)
============================================================
</TABLE>
<PAGE 204>
<PAGE>
MEC International B.V.
Mission Energy Holdings Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Holdings
Pty. Ltd.
Consolidated
======================================================================================================
<S> <C>
Electric utility revenue
Diversified operations
-------------------------------------------------------------
Total operating revenue
-------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $2,070
Maintenance
Depreciation and decommissioning 194
Income taxes (933)
Property and other taxes
-------------------------------------------------------------
Total operating expenses 1,331
-------------------------------------------------------------
Operating income (1,331)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 1,526
-------------------------------------------------------------
Total other income (deductions) - net 1,526
-------------------------------------------------------------
Income before interest and other expenses 195
-------------------------------------------------------------
Interest on long-term debt 22
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 22
------------------------------------------------------------
NET INCOME $173
============================================================
</TABLE>
<PAGE 205>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Lakeland Pride
Pride Lakeland Power Hold
Hold Power Development Consolidating Ltd.
Ltd. Ltd. Company Adjustments Consolidated
=======================================================================================================
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 $166,804 $(166,804)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $1 $1
Investments in leveraged leases
Other investments
----------------------------------------------------------
Total other property and investments 1 166,804 (166,804) 1
----------------------------------------------------------
Cash and equivalents 3 11,893 3 (11,896) 3
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 11,368 204 (11,572)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1,355 (1,355)
----------------------------------------------------------
Total current assets 3 24,616 207 (24,823) 3
----------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 23,181 (23,181)
----------------------------------------------------------
Total deferred charges 23,181 (23,181)
----------------------------------------------------------
TOTAL ASSETS $4 $214,601 $207 ($214,808) $4
==========================================================
</TABLE>
<PAGE 206>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Lakeland Pride
Pride Lakeland Power Hold
Hold Power Development Consolidating Ltd.
Ltd. Ltd. Company Adjustments Consolidated
======================================================================================================
CAPITALIZATION AND LIABILITIES
======================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $157 $2 $(2) $157
Retained earnings 168 10,309 $190 (10,499) 168
----------------------------------------------------------
325 10,311 190 (10,501) 325
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 157,631 (157,631)
----------------------------------------------------------
Total capitalization 325 167,942 190 (168,132) 325
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt 20,222 (20,222)
Short-term debt
Accounts payable (310) 14,017 21 (14,038) (310)
Accrued taxes (8) 595 (595) (8)
Accrued interest 6,391 (6,391)
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------------
Total current liabilities (318) 41,225 21 (41,246) (318)
----------------------------------------------------------
Accumulated deferred income taxes - net 5,643 (5,643)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (3) (209) (4) 213 (3)
----------------------------------------------------------
Total deferred credits (3) 5,434 (4) (5,430) (3)
----------------------------------------------------------
Minority interest
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $4 $214,601 $207 ($214,808) $4
==========================================================
</TABLE>
<PAGE 207>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Lakeland Pride
Pride Lakeland Power Hold
Hold Power Development Consolidating Ltd.
Ltd. Ltd. Company Adjustments Consolidated
======================================================================================================
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $50,419 $(50,419)
-------------------------------------------------------------
Total operating revenue 50,419 (50,419)
-------------------------------------------------------------
Fuel 25,371 (25,371)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1,657 13,386 $4 (15,047)
Maintenance
Depreciation and decommissioning 7,668 (7,668)
Income taxes (679) (6,803) (8) 7,490
Property and other taxes 1,936 (1,936)
-------------------------------------------------------------
Total operating expenses 978 41,558 (4) (42,532)
-------------------------------------------------------------
Operating income (978) 8,861 4 (7,887)
-------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 989 13,484 5 (14,478)
-------------------------------------------------------------
Total other income (deductions) - net 989 13,484 5 (14,478)
-------------------------------------------------------------
Income before interest and other expenses 11 22,345 9 (22,365)
-------------------------------------------------------------
Interest on long-term debt 17,502 (17,502)
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------
Total interest and other expenses - net 17,502 (17,502)
------------------------------------------------------------
NET INCOME $11 $4,843 $9 ($4,863)
============================================================
</TABLE>
<PAGE 208>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
MEC Hydro Hydro Hydro
International Energy Energy Energy
B.V. B.V. B.V. B.V.
===============================================================
Name of Entity: Hydro Compania Iberica Energias
Energy Mediterranea de Energias Hidraulicas
B.V. de Energias S.A. S.A.
S.A.
<S> <C> <C> <C> <C>
Ownership Interest: 10% 100% 100% 100%
Nature/Purpose of Business: (a) (a) (a) (a)
Ownership Interest in (000):
Assets $7,428 $34,227 $40,049 $0
Revenue $1,055 $5,756 $4,791 $0
Net Income (Loss) $104 $626 $419 $0
</TABLE>
(a) To own hydroelectric facilities located throughout Spain.
<PAGE 209>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Iberian Iberian Iberian
MEC Hy-Power Hy-Power Hy-Power
International Amsterdam Amsterdam Amsterdam
B.V. B.V. B.V. B.V.
===============================================================
Name of Entity: Iberian Electro Hidroelectrica Hidroelectrica
Hy-Power Metalurgica de Sossis de Olvera
Amsterdam del Ebro S.A. S.A.
B.V. S.A.
<S> <C> <C> <C> <C>
Ownership Interest: 34% 80.1% 100% 66%
Nature/Purpose of Business: (b) (b) (b) (b)
Ownership Interest in (000):
Assets $22,068 $53,825 $7,541 $1,642
Revenue $3,489 $8,184 $1,641 $58
Net Income (Loss) $330 $914 $53 $14
</TABLE>
(b) To own hydroelectric facilities located throughout Spain.
<PAGE 210>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1994
<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.
===============================================================
Name of Entity: Hidroelectrica Hidroelectrica Hidroelectrica Electra
del Cadagua de Casillas de Posdas La Mella
S.A. S.A. S.A. S.A.
<S> <C> <C> <C> <C>
Ownership Interest: 75% 49% 100% 70%
Nature/Purpose of Business: (b) (b) (b) (b)
Ownership Interest in (000):
Assets $1,875 $0 $0 $23
Revenue $322 $0 $0 $56
Net Income (Loss) ($18) $0 $0 $8
</TABLE>
(b) To own hydroelectric facilities located throughout Spain.
<PAGE 211>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Iberian (1)
MEC Hy-Power Hydro Hydro Hydro
International Amsterdam Energy Energy Energy
B.V. B.V. B.V. B.V. B.V.
===============================================================
Name of Entity: Iberian Hydro Compania Iberica Energias
Hy-Power Energy Mediterranea de Energias Hidraulicas
Amsterdam B.V. de Energias S.A. S.A.
B.V. S.A.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 34% 90% 100% 100% 100%
Nature/Purpose of Business: (c) (c) (c) (c) (c)
Ownership Interest in (000):
Assets $22,728 $66,848 $34,227 $40,049 $0
Revenue $3,227 $9,492 $5,756 $4,791 $0
Net Income (Loss) $320 $940 $626 $419 $0
</TABLE>
(c) To own hydroelectric facilities located throughout Spain.
<PAGE 212>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
Mission
MEC Energy
International Company (UK)
B.V. Limited
===============================================================
Name of Entity: Mission Derwent
Energy Cogeneration
Company (UK) Company
Limited
<S> <C> <C>
Ownership Interest: 100% 33%
Nature/Purpose of Business: (d) (d)
Ownership Interest in (000):
Assets $0 $65,278
Revenue $0 $239
Net Income (Loss) $0 ($753)
</TABLE>
(d) To own and operate a 214 power production facility in the United Kingdom
<PAGE 213>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
MEC
MEC MEC MEC MEC International
International Indonesia Indonesia International Holdings
B.V. B.V. B.V. B.V. B.V.
===============================================================
Name of Entity: MEC P.T. Patton P.T. Paiton MEC MEC
Indonesia Energy Energy International Indonesia
B.V. Company Company Holdings B.V.
B.V.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 99% 32.5% 32.5% 100% 1%
Nature/Purpose of Business: (f) (f) (f) (f) (f)
Ownership Interest in (000):
Assets $0 $0 $0 $0 $0
Revenue $0 $0 $0 $0 $0
Net Income (Loss) $0 $0 $0 $0 $0
</TABLE>
(f) To own and operate a 615 MW cogeneration facility located in Indonesia
<PAGE 214>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1994
<TABLE>
<CAPTION>
MEC
MEC MEC MEC International MEC
International Priolo International Holdings Priolo
B.V. B.V. B.V. B.V. B.V.
===============================================================
Name of Entity: MEC ISAB MEC MEC ISAB
Priolo Energy International Priolo Energy
B.V. s.r.l. Holdings B.V. s.r.l.
B.V.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 99% 49% 100% 1% 49%
Nature/Purpose of Business: (g) (g) (g) (g) (g)
Ownership Interest in (000):
Assets $0 $0 $0 $0 $0
Revenue $0 $0 $0 $0 $0
Net Income (Loss) $0 $0 $0 $0 $0
</TABLE>
(g) To own and operate a 500 MW cogeneration facility located in Sicily, Italy
<PAGE 215>
<PAGE>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Southern Mission
Energy Energy Energy Pocono Sierra Energy
Oil & Gas Petroleum Methane Fuels Gas Fuel
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 $71,547 $44,369 $475 $82,973
Investments in leveraged leases
Other investments
------------------------------------------------------------------
Total other property and investments 71,547 44,369 475 82,973
------------------------------------------------------------------
Cash and equivalents 81 14 $6 1
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 449
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1,184
------------------------------------------------------------------
Total current assets 81 14 1,639 1
------------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 316
------------------------------------------------------------------
Total deferred charges 316
------------------------------------------------------------------
TOTAL ASSETS $71,628 $44,383 $1,955 $475 $82,974
==================================================================
</TABLE>
<PAGE 216>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Consolidating Fuel Company
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 $(82,973) $116,391
Investments in leveraged leases
Other investments
------------------------
Total other property and investments (82,973) 116,391
------------------------
Cash and equivalents 102
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 449
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1,184
------------------------
Total current assets 1,735
------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 316
------------------------
Total deferred charges 316
------------------------
TOTAL ASSETS ($82,973) $118,442
========================
</TABLE>
<PAGE 217>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Southern Mission
Energy Energy Energy Pocono Sierra Energy
Oil & Gas Petroleum Methane Fuels Gas Fuel
Company Company Company Company Company Company
==============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
==============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $75,374 $44,549 $1,637 $83,959
Retained earnings (1,702) $(3) (597) 490 $457 (902)
------------------------------------------------------------------
73,672 (3) 43,952 2,127 457 83,057
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------------------
Total capitalization 73,672 (3) 43,952 2,127 457 83,057
------------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 14,256 3 (4,067) (707) 35 (97)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------------------
Total current liabilities 14,256 3 (4,067) (707) 35 (97)
------------------------------------------------------------------
Accumulated deferred income taxes - net (16,300) 4,498 535 (17) 14
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------------------
Total deferred credits (16,300) 0 4,498 535 (17) 14
------------------------------------------------------------------
Minority interest
----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $71,628 $0 $44,383 $1,955 $475 $82,974
==================================================================
</TABLE>
<PAGE 218>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Consolidating Fuel Company
Adjustments Consolidated
======================================================================
CAPITALIZATION AND LIABILITIES
======================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $(82,973) $122,546
Retained earnings (2,257)
--------------------------
(82,973) 120,289
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------
Total capitalization (82,973) 120,289
--------------------------
Other long-term liabilities
--------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 9,423
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
--------------------------
Total current liabilities 9,423
--------------------------
Accumulated deferred income taxes - net (11,270)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------
Total deferred credits (11,270)
--------------------------
Minority interest
--------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($82,973) $118,442
==========================
</TABLE 219>
<PAGE>
Mission Energy Fuel Company
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
</TABLE>
<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)
<S> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $7,424 $(1,534) $1,032
----------------------------------------------------------------------
Total operating revenue 7,424 (1,534) 1,032
----------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 625 625 625
Maintenance
Depreciation and decommissioning 5,449
Income taxes (2,480) (1,783) $(1) 126 $7
Property and other taxes
----------------------------------------------------------------------
Total operating expenses 3,594 (1,158) (1) 751 7
----------------------------------------------------------------------
Operating income 3,830 (376) 1 281 (7)
----------------------------------------------------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Interest income 12 450 2
Minority interest
Other nonoperating income - net (456) (149) (354)
----------------------------------------------------------------------
Total other income (deductions) - net (444) 301 (352)
----------------------------------------------------------------------
Income before interest and other expense 3,830 (820) 302 281 (359)
----------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
----------------------------------------------------------------------
Total interest and other expenses - net
----------------------------------------------------------------------
NET INCOME $3,830 $0 ($820) $302 $281 ($359)
======================================================================
</TABLE>
<PAGE 220>
<PAGE>
Mission Energy Fuel Company
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy Fuel
Consolidating Company
Adjustments Consolidated
=====================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $6,922
-----------------------------
Total operating revenue 6,922
-----------------------------
Fuel
Purchased power
Provisions for rate regulatory adjustment
clauses - net
Other operating expenses 1,875
Maintenance
Depreciation and decommissioning 5,449
Income taxes (4,131)
Property and other taxes
-----------------------------
Total operating expenses 3,193
-----------------------------
Operating income 3,729
-----------------------------
Provision for phase-in plan
Allowance for equity funds used during
construction
Interest income 464
Minority interest
Other nonoperating income - net (959)
-----------------------------
Total other income (deductions) - net (495)
-----------------------------
Income before interest and other expense 3,234
-----------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-----------------------------
Total interest and other expenses - net
-----------------------------
NET INCOME $3,234
=============================
</TABLE>
<PAGE 221>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $30,577 $538
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $224,519 22,960 ($22,959)
Investments in leveraged leases 555,564
Other investments
------------------------------------------------------------------
Total other property and investments 30,577 780,083 23,498 (22,959)
------------------------------------------------------------------
Cash and equivalents 85 158,795 184
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 775 32,286 $315 1,739 (7,916)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 591 13 10
------------------------------------------------------------------
Total current assets 1,451 191,094 315 1,933 (7,916)
------------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,076 9,331
------------------------------------------------------------------
Total deferred charges 1,076 9,331
------------------------------------------------------------------
TOTAL ASSETS $33,104 $980,508 $315 $25,431 ($30,875)
==================================================================
</TABLE>
<PAGE 222>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $31,115
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 224,520
Investments in leveraged leases 555,564
Other investments
---------------
Total other property and investments 811,199
---------------
Cash and equivalents 159,064
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 27,199
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 614
---------------
Total current assets 186,877
---------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 10,407
---------------
Total deferred charges 10,407
---------------
TOTAL ASSETS $1,008,483
===============
</TABLE>
<PAGE 223>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $1,678 $126,747 $3 $80,597 ($128,428)
Retained earnings (593) 76,855 185 (63,954) 105,468
------------------------------------------------------------------
1,085 203,602 188 16,643 (22,960)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 29,327 181,714
------------------------------------------------------------------
Total capitalization 30,412 385,316 188 16,643 (22,960)
------------------------------------------------------------------
Other long-term liabilities
------------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 124 1,135 127 7,146 (7,915)
Accrued taxes
Accrued interest 183 345
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 431 82,584 1,647
------------------------------------------------------------------
Total current liabilities 738 84,064 127 8,793 (7,915)
------------------------------------------------------------------
Accumulated deferred income taxes - net 2,093 505,055 (5)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 56 6,073
------------------------------------------------------------------
Total deferred credits 2,149 511,128 (5)
------------------------------------------------------------------
Minority interest (195)
------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $33,104 $980,508 $315 $25,431 ($30,875)
==================================================================
</TABLE>
<PAGE 224>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission First
Financial
Consolidated
========================================================
CAPITALIZATION AND LIABILITIES
========================================================
<S> <C>
Common shareholders' equity:
Common stock $80,597
Retained earnings 117,961
---------------
198,558
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 211,041
---------------
Total capitalization 409,599
---------------
Other long-term liabilities
---------------
Current portion of long-term debt
Short-term debt
Accounts payable 617
Accrued taxes
Accrued interest 528
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 84,662
---------------
Total current liabilities 85,807
---------------
Accumulated deferred income taxes - net 507,143
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,129
---------------
Total deferred credits 513,272
---------------
Minority interest (195)
---------------
TOTAL CAPITALIZATION AND LIABILITIES $1,008,483
===============
</TABLE>
<PAGE 225>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue
Diversified operations $3,503 $8,287
-----------------------------------------------------------
Total operating revenue 3,503 8,287
-----------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 1,455 847 $5,012
Maintenance
Depreciation and decommissioning 908 6,476 118
Income taxes 559 (31,569) $1 (2,126)
Property and other taxes
-----------------------------------------------------------
Total operating expenses 2,922 (24,246) 1 3,004
-----------------------------------------------------------
Operating income 581 32,533 (1) (3,004)
-----------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 219
Minority interest 32
Other nonoperating income - net 805 15,170 652
-----------------------------------------------------------
Total other income (deductions) - net 837 15,389 652
-----------------------------------------------------------
Income before interest and other expenses 1,418 47,922 (1) (2,352)
-----------------------------------------------------------
Interest on long-term debt 1,941 12,159 (46)
Other interest expense 189
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-----------------------------------------------------------
Total interest and other expenses - net 1,941 12,348 (46)
-----------------------------------------------------------
NET INCOME ($523) $35,574 ($1) ($2,306)
===========================================================
</TABLE>
<PAGE 226>
<PAGE>
Mission First Financial and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission First
Financial
Consolidated
======================================================
<S> <C>
Electric utility revenue
Diversified operations $11,790
-------------
Total operating revenue 11,790
-------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 7,314
Maintenance
Depreciation and decommissioning 7,502
Income taxes (33,135)
Property and other taxes
-------------
Total operating expenses (18,319)
-------------
Operating income 30,109
-------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 219
Minority interest 32
Other nonoperating income - net 16,627
-------------
Total other income (deductions) - net 16,878
-------------
Income before interest and other expenses 46,987
-------------
Interest on long-term debt 14,054
Other interest expense 189
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------
Total interest and other expenses - net 14,243
-------------
NET INCOME $32,744
=============
</TABLE>
<PAGE 227>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<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, LTD
Ownership Interest: 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $0 $12,911 $6,025
Revenues 0 $485 $2,521
Net Income (Loss) 0 ($459) ($362)
</TABLE>
<PAGE 228>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION> MHIFED 94 Co. MHIFED 94 Co.
& &
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%x67% 99.0%x67% 99.0%
Equity Interest in (000):
Assets $6,791 $6,013 $3,057 $8,947
Revenues $434 $95 $7 $360
Net Income (Loss) ($306) ($233) ($39) ($216)
</TABLE>
<PAGE 229>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MHIFED 94 Co.
&
Mission Mission Mission
Housing Housing Housing
Investments Investments Investments
===========================================================================================================
===========================================================================================================
<S> <C> <C> <C>
Name of Entity: Centro Corona Ely/ Coyote Springs
Partners Ranch Apartments
Associates Associates
Ownership Interest: 99.0% 99.0%x67% 99.0%
Equity Interest in (000):
Assets $5,795 $6,309 $12,498
Revenues $145 $91 $567
Net Income (Loss) ($404) ($244) ($476)
</TABLE>
<PAGE 230>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<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 Cotati Edmundson
Associates Creekside Avenue Partners Associates
Associates (Willows)
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $3,182 $2,952 $6,148 $3,602
Revenues $209 $200 $251 $154
Net Income (Loss) ($73) ($117) ($234) ($137)
</TABLE>
<PAGE 231>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MHIFED 94 Co.
&
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%x67% 99.0% 99.0%
Equity Interest in (000):
Assets $6,901 $9,960 $3,388 $10,802
Revenues $252 $137 $178 $620
Net Income (Loss) ($178) ($267) ($117) ($218)
</TABLE>
<PAGE 232>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MHIFED 94 Co.
&
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%x67%
Equity Interest in (000):
Assets $11,818 $6,315 $9,968 $2,071
Revenues $94 $315 $504 $8
Net Income (Loss) ($34) ($255) ($252) ($69)
</TABLE>
<PAGE 233>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MHIFED 95 Co. MHIFED 95 Co.
& &
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Kennedy Lofts La Brea/ Larkin Mission Housing I/
Associates Franklin Pine Calif Park Apts.
Ownership Interest: 97.0% 99.0%x40.60% 99.0%x40.60% 99.0%x1%
Equity Interest in (000):
Assets $20,344 $0 $3,470 $35
Revenues $2,016 $0 $22 $4
Net Income (Loss) ($869) $0 ($87) ($2)
</TABLE>
<PAGE 234>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Housing
Delta and
Mission Mission Mission Mission Mission
Housing Housing Housing Housing Housing
Investments Investments Investments Investments Investments
==============================================================================================================
==============================================================================================================
<S> <C> <C> <C> <C> <C>
Name of Entity: Mission Mission Mission Mission Mar
Housing II/ Housing III/ Housing IV/ Housing V/ Associates
5363 Dent De Rose MPT Centennial
Avenue Housing Apartments Place
Associates Associates
Ownership Interest: 99.0%x1% 99.0%x1% 99.0%x1% 99.0%% 99.0%
Equity Interest in (000):
Assets $13 $51 $79 $11,150 $12,229
Revenues $2 $4 $10 $524 $685
Net Income (Loss) ($1) ($3) ($3) ($361) ($418)
</TABLE>
<PAGE 235>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<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 $6,911 $3,155 $5,920 $33,654
Revenues $114 $197 $381 $6,606
Net Income (Loss) ($194) ($107) ($224) ($359)
</TABLE>
<PAGE 236>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<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/
Cal Park Apts Dent
Ownership Interest: 99.0% 99.0% 99.0%x99% 99.0%x99%
Equity Interest in (000):
Assets $8,674 $5,537 $3,505 $1,319
Revenues $317 $163 $352 $153
Net Income (Loss) ($290) ($214) ($167) ($106)
</TABLE>
<PAGE 237>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Delta Delta Episilon
====================================================================================================
====================================================================================================
<S> <C> <C> <C>
Name of Entity: MH III MH IV Riverside/
Limited Limited Liebrandt
Partnership Partnership Partners (La Playa)
De Rose
Ownership Interest: 99.0%x99% 99.0%x99% 99.0%
Equity Interest in (000):
Assets $5,087 $7,831 $2,663
Revenues $423 $970 $45
Net Income (Loss) ($319) ($312) ($136)
</TABLE>
<PAGE 238>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Zeta Theta Theta Theta
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Crescent Mission Mission Mission
Arms Housing Housing Housing
Investors Investors Investors
Partnership Partnership Partnership
(Forest Winds) (Glen Eden) (Gray's Meadows)
Ownership Interest: 99.0% 5% x 99% 5% x 99% 5% x 99%
Equity Interest in (000):
Assets $0 $302 $516 $168
Revenues $0 $12 $12 $9
Net Income (Loss) $0 ($13) ($13) ($11)
</TABLE>
<PAGE 239>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Theta Theta Theta Theta
=================================================================================================
=================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Mission Mission Mission Mission
Housing Housing Housing Housing
Investors Investors Investors Investors
Partnership Partnership Partnership Partnership
(Rancho Park)(Rustic Gardens)(Sea Ranch) (Prince Bozzuto)
Ownership Interest: 5% x 99% 5% x 99% 5% x 99% 5% x 99%
Equity Interest in (000):
Assets $662 $232 $139 $522
Revenues $15 $5 $8 $42
Net Income (Loss) ($15) ($8) ($4) ($39)
</TABLE>
<PAGE 240>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION> MHIFED 94 Co.
&
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%x67%
Equity Interest in (000):
Assets $458 $210 $5,742
Revenues $25 $8 $212
Net Income (Loss) ($15) ($9) ($217)
</TABLE>
<PAGE 241>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION> MHIFED 94 Co.
&
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%x67% 99%
Equity Interest in (000):
Assets $10,353 $8,963 $1,257 $1,953
Revenues $412 $410 $60 $192
Net Income (Loss) ($415) ($238) ($66) ($58)
</TABLE>
<PAGE 242>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION> MHIFED 95 Co.
&
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%x40.60% 99%
Equity Interest in (000):
Assets $0 $0 $2,492 $61,767
Revenues $0 $0 $33 $7,992
Net Income (Loss) $0 ($160) ($160) ($1,076)
</TABLE>
<PAGE 243>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Housing Housing
Investments Investments
========================================================================================================
========================================================================================================
<S> <C> <C>
Name of Entity: Rincon De Los Rosebloom
Esteros Associates
Associates (Oakshade)
Ownership Interest: 99% 99%
Equity Interest in (000):
Assets $27,764 $3,432
Revenues $410 $144
Net Income (Loss) ($870) ($178)
</TABLE>
<PAGE 244>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION> MHIFED 95 Co.
&
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%x40.60%
Equity Interest in (000):
Assets $4,418 $3,221 $9,499 $2,126
Revenues $296 $108 $767 $20
Net Income (Loss) ($151) ($156) ($240) ($122)
</TABLE>
<PAGE 245>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<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 $14,120 $9,990 $4,017 $2,679
Revenues $627 $362 $205 $140
Net Income (Loss) ($434) ($328) ($158) ($86)
</TABLE>
<PAGE 246>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MHIFED 94 Co. MHIFED 94 Co.
& &
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Tabor Grand The Josephinum Tierra Linda Tlaquepaque
Associates Associates Housing
Associates
Ownership Interest: 99% 99% 99%x67% 99%x67%
Equity Interest in (000):
Assets $3,833 $10,605 $2,202 $4,602
Revenues $195 $911 $7 $175
Net Income (Loss) ($127) ($469) ($111) ($267)
</TABLE>
<PAGE 247>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<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 $6,476 $4,416 $1,235 $13,846
Revenues $175 $166 $120 $584
Net Income (Loss) ($320) ($147) ($25) ($352)
</TABLE>
<PAGE 248>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION> MHICAL 94 Co.
&
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 Partners Associates Associates
Ownership Interest: 99% 99% 99% 99%
Equity Interest in (000):
Assets $20,773 $9,556 $2,654 $0
Revenues $155 $284 $116 $0
Net Income (Loss) ($399) ($221) ($120) $0
</TABLE>
<PAGE 249>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Housing Housing
Investments Investments
=============================================================================
=============================================================================
<S> <C> <C>
Name of Entity: 210 Delta
Washington Plaza
Avenue Apartments
Associates Associates
(Renaissance
Plaza)
Ownership Interest: 99% 99%
Equity Interest in (000):
Assets $10,237 $2,341
Revenues $448 $82
Net Income (Loss) ($684) ($116)
</TABLE>
<PAGE 250>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MHIFED 94 Co. MHIFED 94 Co. MHIFED 95 Co. MHIFED 95 Co.
& & & &
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Fairview Casa Del Hollywood 1101 Howard
Village Rio El Centro St. Associates
Associates
Ownership Interest: 99%x67% 99%x67% 99%x40.60% 99%x40.60%
Equity Interest in (000):
Assets $478 $5,026 $4,795 $0
Revenues $5 $150 $55 $0
Net Income (Loss) ($15) ($141) ($94) $0
</TABLE>
<PAGE 251>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MHIFED 95 Co. MHIFED 95 Co. MHIFED 95 Co. MHIFED 95 Co.
& & & &
Mission Mission Mission Mission
Housing Housing Housing Housing
Investments Investments Investments Investments
=========================================================================================================
=========================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Solinas Avalon Mercy Housing Three Oaks
Village Courtyard California III Housing
Partners (Carson Sr.) (3rd & Reed)
Ownership Interest: 99%x40.60% 99%x40.60% 99%x40.60% 99%x40.60%
Equity Interest in (000):
Assets $0 $0 $0 $0
Revenues $0 $0 $0 $0
Net Income (Loss) $0 $0 $0 $0
</TABLE>
<PAGE 252>
<PAGE>
Mission First Financial
Equity Investments in Real Estate Limited Partnerships
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
MHICAL 94 Co.
&
Mission Mission
Housing Housing
Investments Investments
=============================================================================================
=============================================================================================
<S> <C> <C>
Name of Entity: West Lavell Village
Capital Associates
Courtyard
Ownership Interest: 99% 99%
Equity Interest in (000):
Assets $7,160 $0
Revenues $28 $0
Net Income (Loss) ($41) $0
</TABLE>
<PAGE 253>
<PAGE>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding Mission Mission Mission
First Asset Funding Epsilon Funding Funding Funding
Investment Beta Consolidated Gamma Kappa 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
and unconsolidated subsidiaries $83
Investments in leveraged leases $75,069 $377,795 $59,724
Other investments
---------------------------------------------------------------
Total other property and investments 75,069 377,795 59,724 83
---------------------------------------------------------------
Cash and equivalents 2
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $19,778 53,365 316,516 34,377 8 $6
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 13
---------------------------------------------------------------
Total current assets 19,778 53,365 316,531 34,377 8 6
---------------------------------------------------------------
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 $19,778 $128,434 $694,326 $94,101 $91 $6
===============================================================
</TABLE>
<PAGE 254>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Mission Integrated Mission
Funding Funding Funding Energy Funding
Mu Nu Zeta Services Company
==========================================================================================================
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 $23,582 $582,531
Investments in leveraged leases $12,204 $29,814
Other investments
---------------------------------------------------------------
Total other property and investments 12,204 29,814 23,582 582,531
---------------------------------------------------------------
Cash and equivalents 158,726
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,941 7,365 28,584 5,261
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
---------------------------------------------------------------
Total current assets 3,941 7,365 28,584 163,987
---------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges $20 483
---------------------------------------------------------------
Total deferred charges 20 483
---------------------------------------------------------------
TOTAL ASSETS $16,145 $37,179 $52,166 $20 $747,001
===============================================================
</TABLE>
<PAGE 255>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Housing Funding
Investments Consolidating Company
Consolidated Adjustments Consolidated
===========================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $200,855 ($582,532) $224,519
Investments in leveraged leases 958 555,564
Other investments
-------------------------------------------------
Total other property and investments 201,813 (582,532) 780,083
-------------------------------------------------
Cash and equivalents 68 (1) 158,795
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 129,471 (566,386) 32,286
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 13
-------------------------------------------------
Total current assets 129,539 (566,387) 191,094
-------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 8,828 9,331
-------------------------------------------------
Total deferred charges 8,828 9,331
-------------------------------------------------
TOTAL ASSETS $340,180 $(1,148,919) $980,508
=================================================
</TABLE>
<PAGE 256>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding Mission Mission Mission
First Asset Funding Epsilon Funding Funding Funding
Investment Beta Consolidated Gamma Kappa Theta
=============================================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $19,764 $39,747 $245,312 $31,488 $100
Retained earnings 14 19,585 99,017 15,598 (23) $(8)
-----------------------------------------------------------------
19,778 59,332 344,329 47,086 77 (8)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------------------
Total capitalization 19,778 59,332 344,329 47,086 77 (8)
----------------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 41 92 45 14 14
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 3 147 5
----------------------------------------------------------------
Total current liabilities 44 239 50 14 14
----------------------------------------------------------------
Accumulated deferred income taxes - net 69,058 349,758 46,964
Accumulated deferred investment tax credits
Customer advances and other deferred credits
----------------------------------------------------------------
Total deferred credits 69,058 349,758 46,964
----------------------------------------------------------------
Minority interest
----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $19,778 $128,434 $694,326 $94,100 $91 $6
=================================================================
</TABLE>
<PAGE 257>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Mission Integrated Mission
Funding Funding Funding Energy Funding
Mu Nu Zeta Services Company
==========================================================================================================
CAPITALIZATION AND LIABILITIES
==========================================================================================================
<S> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $14,750 $33,187 $26,450 $126,747
Retained earnings 418 618 5,522 $(1) (132,211)
---------------------------------------------------------------
15,168 33,805 31,972 (1) (5,464)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 181,714
---------------------------------------------------------------
Total capitalization 15,168 33,805 31,972 (1) 176,250
---------------------------------------------------------------
Other long-term liabilities
---------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 4 4 90 21 567,075
Accrued taxes
Accrued interest 345
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
---------------------------------------------------------------
Total current liabilities 4 4 90 21 567,420
---------------------------------------------------------------
Accumulated deferred income taxes - net 973 3,370 20,104 (2,038)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 5,369
---------------------------------------------------------------
Total deferred credits 973 3,370 20,104 3,331
---------------------------------------------------------------
Minority interest
---------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $16,145 $37,179 $52,166 $20 $747,001
===============================================================
</TABLE>
<PAGE 258>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Housing Funding
Investments Consolidating Company
Consolidated Adjustments Consolidated
====================================================================================
CAPITALIZATION AND LIABILITIES
====================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $184,742 ($595,540) $126,747
Retained earnings 55,318 13,008 76,855
-----------------------------------------
240,060 (582,532) 203,602
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 181,714
-----------------------------------------
Total capitalization 240,060 (582,532) 385,316
-----------------------------------------
Other long-term liabilities
-----------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 121 (566,386) 1,135
Accrued taxes
Accrued interest 345
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 82,429 82,584
-----------------------------------------
Total current liabilities 82,550 (566,386) 84,064
-----------------------------------------
Accumulated deferred income taxes - net 16,866 505,055
Accumulated deferred investment tax credits
Customer advances and other deferred credits 704 6,073
-----------------------------------------
Total deferred credits 17,570 0 511,128
-----------------------------------------
Minority interest
-----------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $340,180 ($1,148,918) $980,508
=========================================
</TABLE>
<PAGE 259>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding Mission Mission Mission
First Asset Funding Epsilon Funding Funding Funding
Investment Beta Consolidated Gamma Kappa Theta
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $3,499 $11,762 $4,059
-------------------------------------------------------------------
Total operating revenue 3,499 11,762 4,059
-------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $4 4 21 4 $4 $4
Maintenance
Depreciation and decommissioning
Income taxes (12) 2,210 1,953 2,042 3 (2)
Property and other taxes
-------------------------------------------------------------------
Total operating expenses (8) 2,214 1,974 2,046 7 2
-------------------------------------------------------------------
Operating income 8 1,285 9,788 2,013 (7) (2)
-------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-------------------------------------------------------------------
Total other income (deductions) - net
-------------------------------------------------------------------
Income before interest and other expenses 8 1,285 9,788 2,013 (7) (2)
-------------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-------------------------------------------------------------------
Total interest and other expenses - net
-------------------------------------------------------------------
NET INCOME $8 $1,285 $9,788 $2,013 ($7) ($2)
===================================================================
</TABLE>
<PAGE 260>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Mission Integrated Mission
Funding Funding Funding Energy Funding
Mu Nu Zeta Services Company
==========================================================================================================
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $716 $1,056 $3,565
-----------------------------------------------------------------
Total operating revenue 716 1,056 3,565
-----------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 4 4 4 680
Maintenance
Depreciation and decommissioning 894 87
Income taxes 294 434 (492) $1 (369)
Property and other taxes
-----------------------------------------------------------------
Total operating expenses 298 438 406 1 398
-----------------------------------------------------------------
Operating income 418 618 (406) (1) 3,167
-----------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 66
Minority interest
Other nonoperating income - net 648 3,490
-----------------------------------------------------------------
Total other income (deductions) - net 648 3,556
-----------------------------------------------------------------
Income before interest and other expenses 418 618 242 (1) 6,723
-----------------------------------------------------------------
Interest on long-term debt 12,159
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-----------------------------------------------------------------
Total interest and other expenses - net 12,159
-----------------------------------------------------------------
NET INCOME $418 $618 $242 ($1) ($5,436)
=================================================================
</TABLE>
<PAGE 261>
<PAGE>
Mission Funding Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Housing Funding
Investments Consolidating Company
Consolidated Adjustments Consolidated
=======================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations ($16,370) $ 8,287
----------------------------------------------
Total operating revenue (16,370) 8,287
----------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 114 847
Maintenance
Depreciation and decommissioning 5,495 6,476
Income taxes (37,631) (31,569)
Property and other taxes
----------------------------------------------
Total operating expenses (32,022) (24,246)
----------------------------------------------
Operating income 15,652 32,533
----------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 153 219
Minority interest
Other nonoperating income - net 11,032 15,170
----------------------------------------------
Total other income (deductions) - net 11,185 15,389
----------------------------------------------
Income before interest and other expenses 26,837 47,922
----------------------------------------------
Interest on long-term debt 12,159
Other interest expense 189 189
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
----------------------------------------------
Total interest and other expenses - net 189 12,348
----------------------------------------------
NET INCOME $26,648 $35,574
==============================================
</TABLE>
<PAGE 262>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $104,415
Investments in leveraged leases $185,146 $22,254 170,396
Other investments
------------------------------------------------------
Total other property and investments 185,146 22,254 274,811
------------------------------------------------------
Cash and equivalents $1 $1
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 120,005 19,934 12 1 176,577
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 13
------------------------------------------------------
Total current assets 120,005 19,934 13 2 176,590
------------------------------------------------------
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 $305,151 $42,188 $13 $2 $451,401
======================================================
</TABLE>
<PAGE 263>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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) $0
Investments in leveraged leases (1) 377,795
Other investments
--------------------------
Total other property and investments (104,416) 377,795
--------------------------
Cash and equivalents 2
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (13) 316,516
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 13
--------------------------
Total current assets (13) 316,531
--------------------------
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 ($104,429) $694,326
==========================
</TABLE>
<PAGE 264>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $245,312
Retained earnings 50,731 5,310 42,976
------------------------------------------------------
141,253 19,190 12 1 288,288
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 141,253 19,190 12 1 288,288
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 45 46 1 1 13
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 147
------------------------------------------------------
Total current liabilities 45 46 1 1 160
------------------------------------------------------
Accumulated deferred income taxes - net 163,853 22,952 162,953
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 163,853 22,952 162,953
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $305,151 $42,188 $13 $2 $451,401
======================================================
</TABLE>
<PAGE 265>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Consolidating Epsilon
Adjustments Consolidated
======================================================================
CAPITALIZATION AND LIABILITIES
======================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock ($104,415) $245,312
Retained earnings 99,017
--------------------------
(104,415) 344,329
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
--------------------------
Total capitalization (104,415) 344,329
--------------------------
Other long-term liabilities
--------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (14) 92
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 147
--------------------------
Total current liabilities (14) 239
--------------------------
Accumulated deferred income taxes - net 349,758
Accumulated deferred investment tax credits
Customer advances and other deferred credits
--------------------------
Total deferred credits 349,758
--------------------------
Minority interest
--------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($104,429) $694,326
==========================
</TABLE>
<PAGE 266>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue
Diversified operations $9,473 $31 $2,258
-----------------------------------------------------------------
Total operating revenue 9,473 31 2,258
-----------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 4 4 13
Maintenance
Depreciation and decommissioning
Income taxes 4,648 94 (2,789)
Property and other taxes
-----------------------------------------------------------------
Total operating expenses 4,652 98 (2,776)
-----------------------------------------------------------------
Operating income 4,821 (67) 5,034
-----------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-----------------------------------------------------------------
Total other income (deductions) - net
-----------------------------------------------------------------
Income before interest and other expense 4,821 (67) 5,034
-----------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-----------------------------------------------------------------
Total interest and other expenses - net
-----------------------------------------------------------------
NET INCOME $4,821 ($67) $5,034
=================================================================
</TABLE>
<PAGE 267>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Consolidating Epsilon
Adjustments Consolidated
=====================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $11,762
-----------------------------
Total operating revenue 11,762
-----------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 21
Maintenance
Depreciation and decommissioning
Income taxes 1,953
Property and other taxes
-----------------------------
Total operating expenses 1,974
-----------------------------
Operating income 9,788
-----------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net
-----------------------------
Total other income (deductions) - net
-----------------------------
Income before interest and other expense 9,788
-----------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-----------------------------
Total interest and other expenses - net
-----------------------------
NET INCOME $9,788
=============================
</TABLE>
<PAGE 268>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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
and unconsolidated subsidiaries $1,747 $3,477 $8,215 $831 $2,675 $1,688
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 1,747 3,477 8,215 831 2,675 1,688
-----------------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,524 1,730 4,280 165 1,334 136
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------------------
Total current assets 3,524 1,730 4,280 165 1,334 136
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 168 97
-----------------------------------------------------------------
Total deferred charges 168 97
-----------------------------------------------------------------
TOTAL ASSETS $5,439 $5,207 $12,495 $996 $4,009 $1,921
=================================================================
</TABLE>
<PAGE 269>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission MHI
Housing MHIFED MHICAL Dev MHIFED MHICAL MHIFED MHIFED
Zeta 94 94 Fund 95 95 95B 96A
=============================================================================================================
ASSETS
=============================================================================================================
<S> <C> <C> <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 $10,697 $19,381 $29,306 $12,393 $3,257 $3,157
Investments in leveraged leases
Other investments
-----------------------------------------------------------------
Total other property and investments 10,697 19,381 29,306 12,393 3,257 3,157
-----------------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 8 6,349 5,030 $4,999 6,983
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------------------
Total current assets 8 6,349 5,030 4,999 6,983
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,529 5,627
-----------------------------------------------------------------
Total deferred charges 1,529 5,627
-----------------------------------------------------------------
TOTAL ASSETS $10,705 $27,259 $34,336 $4,999 $25,003 $3,257 $3,157
=================================================================
</TABLE>
<PAGE 270>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Housing
Housing Consolidating Investments
Investments Adjustments Consolidated
=============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $146,243 $(42,212) $200,855
Investments in leveraged leases 959 (1) 958
Other investments
-----------------------------------------------------------------
Total other property and investments 147,202 (42,213) 201,813
-----------------------------------------------------------------
Cash and equivalents 68 68
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 100,223 (5,290) 129,471
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------------------
Total current assets 100,291 (5,290) 129,539
-----------------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1,407 8,828
-----------------------------------------------------------------
Total deferred charges 1,407 8,828
-----------------------------------------------------------------
TOTAL ASSETS $248,900 ($47,503) $340,180
=================================================================
</TABLE>
<PAGE 271>
<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 $4,459 $9,818 $847 $3,340 $1,181
Retained earnings 966 816 2,071 (15) 723 416
-----------------------------------------------------------------
4,230 5,275 11,889 832 4,063 1,597
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------------------
Total capitalization 4,230 5,275 11,889 832 4,063 1,597
-----------------------------------------------------------------
Other long-term liabilities
-----------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 24 14 14 14 14 125
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 276 155 131
-----------------------------------------------------------------
Total current liabilities 24 14 290 169 14 256
-----------------------------------------------------------------
Accumulated deferred income taxes - net 1,185 (82) 317 (5) (68) 68
Accumulated deferred investment tax credits
Customer advances and other deferred credits
-----------------------------------------------------------------
Total deferred credits 1,185 (82) 317 (5) (68) 68
-----------------------------------------------------------------
Minority interest
-----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $5,439 $5,207 $12,496 $996 $4,009 $1,921
=================================================================
</TABLE>
<PAGE 272>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission MHI
Housing MHIFED MHICAL Dev MHIFED MHICAL MHIFED MHIFED
Zeta 94 94 Fund 95 95 95B 96A
=============================================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $11,455 $916 $5,000 $1,335 $446 $153
Retained earnings $(7) 3,564 1,764 (1) 5,938 (1) (1) $(1)
-----------------------------------------------------------------
(7) 15,019 2,680 4,999 7,273 445 152 (1)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------------------
Total capitalization (7) 15,019 2,680 4,999 7,273 445 152 (1)
-----------------------------------------------------------------
Other long-term liabilities
-----------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 15 5 5 5 1 1 1
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 10,188 11,097 30,880 13,486 2,811 3,003
-----------------------------------------------------------------
Total current liabilities 10,203 11,102 30,885 13,491 2,812 3,004 1
-----------------------------------------------------------------
Accumulated deferred income taxes - net 1,139 771 4,239
Accumulated deferred investment tax credits
Customer advances and other deferred credits 509
-----------------------------------------------------------------
Total deferred credits 509 1,139 771 4,239
---------------------------------------------------------------
Minority interest
-----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $10,705 $27,260 $34,336 $4,999 $25,003 $3,257 $3,156 $0
=================================================================
</TABLE>
<PAGE 273>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Housing
Housing Consolidating Investments
Investments Adjustments Consolidated
=============================================================================================================
CAPITALIZATION AND LIABILITIES
=============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $184,742 $(42,214) $184,742
Retained earnings 39,086 55,318
-----------------------------------------------------------------
223,828 (42,214) 240,060
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
-----------------------------------------------------------------
Total capitalization 223,828 (42,214) 240,060
-----------------------------------------------------------------
Other long-term liabilities
-----------------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 5,173 (5,290) 121
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 10,402 82,429
-----------------------------------------------------------------
Total current liabilities 15,575 (5,290) 82,550
-----------------------------------------------------------------
Accumulated deferred income taxes - net 9,302 16,866
Accumulated deferred investment tax credits
Customer advances and other deferred credits 195 704
-----------------------------------------------------------------
Total deferred credits 9,497 17,570
---------------------------------------------------------------
Minority interest
-----------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $248,900 ($47,504) $340,180
=================================================================
</TABLE>
<PAGE 274>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Mission Mission Mission
Housing Housing Housing Housing Housing Housing
Alpha Beta Delta Epsilon Gamma Theta
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations ($647) ($267) ($1,292) ($136) ($257) $74
---------------------------------------------------------------
Total operating revenue (647) (267) (1,292) (136) (257) 74
---------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 4 4 4 4 4 4
Maintenance
Depreciation and decommissioning (80) 170 (248) 35 117 51
Income taxes (279) (973) (2,363) (166) (699) (199)
Property and other taxes
---------------------------------------------------------------
Total operating expenses (355) (799) (2,607) (127) (578) (144)
---------------------------------------------------------------
Operating income (292) 532 1,315 (9) 321 218
---------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 213
----------------------------------------------------------------
Total other income (deductions) - net 213
---------------------------------------------------------------
Income before interest and other expenses (292) 532 1,315 (9) 321 431
---------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
---------------------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------------------
NET INCOME $(292) $532 $1,315 $(9) $321 $431
================================================================
</TABLE>
<PAGE 275>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission MHI
Housing MHIFED MHICAL Dev MHIFED MHICAL MHIFED MHIFED
Zeta 94 94 Fund 95 95 95B 96A
=============================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $(1,651) $(1,489) $(460)
---------------------------------------------------------------
Total operating revenue (1,651) (1,489) (460)
---------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $4 4 4 4
Maintenance
Depreciation and decommissioning 425 1,000
Income taxes (4) (3,078) (4,258) $1 (323) $1 $1 $1
Property and other taxes
---------------------------------------------------------------
Total operating expenses 0 (2,649) (3,254) 1 (319) 1 1 1
---------------------------------------------------------------
Operating income 0 998 1,765 (1) (141) (1) (1) (1)
---------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net 2,565 6,079
----------------------------------------------------------------
Total other income (deductions) - net 2,565 6,079
---------------------------------------------------------------
Income before interest and other expenses 0 3,563 1,765 (1) 5,938 (1) (1) (1)
---------------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
---------------------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------------------
NET INCOME $0 $3,563 $1,765 $(1) $5,938 $(1) $(1) $(1)
================================================================
</TABLE>
<PAGE 276>
<PAGE>
Mission Housing Investments and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Housing
Housing Consolidating Investments
Investments Adjustments Consolidated
=============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(10,245) $(16,370)
---------------------------------------------------------------
Total operating revenue (10,245) (16,370)
---------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 74 114
Maintenance
Depreciation and decommissioning 4,025 5,495
Income taxes (25,293) (37,631)
Property and other taxes
---------------------------------------------------------------
Total operating expenses (21,194) (32,022)
---------------------------------------------------------------
Operating income 10,949 15,652
---------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 153 153
Minority interest
Other nonoperating income - net 2,175 11,032
----------------------------------------------------------------
Total other income (deductions) - net 2,328 11,185
---------------------------------------------------------------
Income before interest and other expenses 13,277 26,837
---------------------------------------------------------------
Interest on long-term debt
Other interest expense 189 189
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
---------------------------------------------------------------
Total interest and other expenses - net 189 189
---------------------------------------------------------------
NET INCOME $13,088 $26,648
================================================================
</TABLE>
<PAGE 277>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern
Investment CA Commerce
Company Calabasas Center
Consolidated Palatino Inc. North, L.P.
===================================================================================
ASSETS (Inactive)
===================================================================================
<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 $1,004
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 19,068 $(1,589)
Investments in leveraged leases
Other investments
---------------------------------------
Total other property and investments 20,072 (1,589)
---------------------------------------
Cash and equivalents 150 2 $3
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 2,055 76 1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
---------------------------------------
Total current assets 2,205 78 4
---------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 6
---------------------------------------
Total deferred charges 6
---------------------------------------
TOTAL ASSETS $22,277 ($1,505) $4
=======================================
</TABLE>
<PAGE 278>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Carol Irwindale
Stream Centrelake Corona Land
Developers Partners, L.P. Partners, L.P. Company
===================================================================================================
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 $13,733 $20,481 $11,484 $3,230
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-------------------------------------------------------
Total other property and investments 13,733 20,481 11,484 3,230
-------------------------------------------------------
Cash and equivalents 243 20 147 8
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1,915 19
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 5 30 375
-------------------------------------------------------
Total current assets 2,163 50 541 8
-------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1 (1) 439 4
-------------------------------------------------------
Total deferred charges 1 (1) 439 4
-------------------------------------------------------
TOTAL ASSETS $15,897 $20,530 $12,464 $3,242
=======================================================
</TABLE>
<PAGE 279>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Lusk-Mission Mission Ontario
Industrial Airport Park Airport Mission
Partners I Dvlp. Co. Ind. Park CCH I, L.P.
==============================================================================================
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 $37,168 $1,040 $(1)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
--------------------------------------------------
Total other property and investments 37,168 1,040 (1)
--------------------------------------------------
Cash and equivalents 303 4 12
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 21,198 7,569
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 6 2 8
--------------------------------------------------
Total current assets 21,507 6 7,589
--------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges $1 11,530 1
--------------------------------------------------
Total deferred charges 1 11,530 1
--------------------------------------------------
TOTAL ASSETS $1 $70,205 $1,046 $7,589
==================================================
</TABLE>
<PAGE 280>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial
Mission Constructors, Mission Mission
DAI I, L.P. Inc. Koll I, L.P. Nexus I, L.P.
================================================================================================
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 $7,291
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 7,291
----------------------------------------------------
Cash and equivalents 30 180
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 257
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
----------------------------------------------------
Total current assets 30 437
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 116
----------------------------------------------------
Total deferred charges 116
----------------------------------------------------
TOTAL ASSETS $7,437 $437
====================================================
</TABLE>
<PAGE 281>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Mission South Bay
Nexus II, L.P. Oceangate Ontario Inc. 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 $5,719 $58,091 $10,499
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
----------------------------------------------------------
Total other property and investments 5,719 58,091 10,499
----------------------------------------------------------
Cash and equivalents 4 9 82
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 875 579
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 17
----------------------------------------------------------
Total current assets 4 884 678
----------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (1) 786 10,010
----------------------------------------------------------
Total deferred charges (1) 786 10,010
----------------------------------------------------------
TOTAL ASSETS $5,722 $59,761 $21,187
==========================================================
</TABLE>
<PAGE 282>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Texas Mission
Property Vacaville
Holdings, Inc. L.P.
============================================================================
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 $59,421
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $750
Investments in leveraged leases
Other investments
--------------------------------
Total other property and investments 750 59,421
--------------------------------
Cash and equivalents 13 123
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (745) 128
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 36
--------------------------------
Total current assets (732) 287
--------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (1) 1,893
--------------------------------
Total deferred charges (1) 1,893
--------------------------------
TOTAL ASSETS $17 $61,601
================================
</TABLE>
<PAGE 283>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $64,648 $17,652
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 191,545 (209,774)
Investments in leveraged leases
Other investments
-------------------------------------------------------
Total other property and investments 256,193 (192,122)
-------------------------------------------------------
Cash and equivalents $773 28,051
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,635 109,997 (136,360)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 17 242 1
-------------------------------------------------------
Total current assets 4,425 138,290 (136,359)
-------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges $175 7 4,350 (164)
-------------------------------------------------------
Total deferred charges 175 7 4,350 (164)
-------------------------------------------------------
TOTAL ASSETS $175 $4,432 $398,833 ($328,645)
=======================================================
</TABLE>
<PAGE 284>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $311,460
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------
Total other property and investments 311,460
------------
Cash and equivalents 30,157
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 11,199
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 739
------------
Total current assets 42,095
------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 29,152
------------
Total deferred charges 29,152
------------
TOTAL ASSETS $382,707
============
</TABLE>
<PAGE 285>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern
Investment CA Commerce
Company Calabasas Center
Consolidated Palatino Inc. North, L.P.
====================================================================================
CAPITALIZATION AND LIABILITIES
====================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $(8,622) $6,907
Retained earnings 29,899 $(2,212) (7,309)
----------------------------------------
21,277 (2,212) (402)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 84 806
----------------------------------------
Total capitalization 21,361 (1,406) (402)
----------------------------------------
Other long-term liabilities
----------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 131 (334) 66
Accrued taxes (1) 340
Accrued interest 5 27
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------
Total current liabilities 135 (307) 406
----------------------------------------
Accumulated deferred income taxes - net 781 208
Accumulated deferred investment tax credits
Customer advances and other deferred credits
----------------------------------------
Total deferred credits 781 208
----------------------------------------
Minority interest
----------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $22,277 ($1,505) $4
========================================
</TABLE>
<PAGE 286>
<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
===================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $10,534 $16,774 $956
Retained earnings (593) (604) (737) $(156)
-------------------------------------------------------
9,941 16,170 219 (156)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 4,598 4,119 10,533
-------------------------------------------------------
Total capitalization 14,539 20,289 10,752 (156)
-------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 1,036 180 12 3,234
Accrued taxes 270 18
Accrued interest 52 46 119 121
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 41
-------------------------------------------------------
Total current liabilities 1,358 226 172 3,373
-------------------------------------------------------
Accumulated deferred income taxes - net 25
Accumulated deferred investment tax credits
Customer advances and other deferred credits 15 1,540
-------------------------------------------------------
Total deferred credits 15 1,540 25
-------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $15,897 $20,530 $12,464 $3,242
=======================================================
</TABLE>
<PAGE 287>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Lusk-Mission Mission Ontario
Industrial Airport Park Airport Mission
Partners I Dvlp. Co. Ind. Park CCH I, L.P.
====================================================================================================
CAPITALIZATION AND LIABILITIES
====================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $30,013 $43,984 $1,098 $7,464
Retained earnings (31,568) 1,996 (52) 165
--------------------------------------------------------
(1,555) 45,980 1,046 7,629
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 16,045
--------------------------------------------------------
Total capitalization (1,555) 62,025 1,046 7,629
--------------------------------------------------------
Other long-term liabilities
--------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 59 5,536
Accrued taxes 1,497 36 (40)
Accrued interest 155
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 118
--------------------------------------------------------
Total current liabilities 1,556 5,845 (40)
--------------------------------------------------------
Accumulated deferred income taxes - net 503
Accumulated deferred investment tax credits
Customer advances and other deferred credits 1,329
--------------------------------------------------------
Total deferred credits 1,832
--------------------------------------------------------
Minority interest 503
--------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1 $70,205 $1,046 $7,589
========================================================
</TABLE>
<PAGE 288>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial
Mission Constructors, Mission Mission
DAI I, L.P. Inc. Koll I, L.P. Nexus I, L.P.
================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $7,824 $(1,066)
Retained earnings $(1) (442) 1,386
----------------------------------------------------
(1) 7,382 320
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------
Total capitalization (1) 7,382 320
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 53 27
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 2 90
----------------------------------------------------
Total current liabilities 55 117
----------------------------------------------------
Accumulated deferred income taxes - net 1
Accumulated deferred investment tax credits
Customer advances and other deferred credits
----------------------------------------------------
Total deferred credits 1
----------------------------------------------------
Minority interest
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $7,437 $437
====================================================
</TABLE>
<PAGE 289>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Mission South Bay
Nexus II, L.P. Oceangate Ontario Inc. Company
======================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
======================================================================================================
<S> <C> <C> <C> <C>
Common shareholders' equity:
Common stock $5,442 $17,903 $17,404
Retained earnings 10 (1,724) 1,301
----------------------------------------------------------
5,452 16,179 18,705
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 40,940
----------------------------------------------------------
Total capitalization 5,452 57,119 18,705
----------------------------------------------------------
Other long-term liabilities
----------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 266 133 2,504 $35
Accrued taxes
Accrued interest 2,427
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 4 71 50
----------------------------------------------------------
Total current liabilities 270 2,631 2,554 35
----------------------------------------------------------
Accumulated deferred income taxes - net (72) (35)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 11
----------------------------------------------------------
Total deferred credits 11 (72) (35)
----------------------------------------------------------
Minority interest
----------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $5,722 $59,761 $21,187 $0
==========================================================
</TABLE>
<PAGE 290>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Texas Mission
Property Vacaville
Holdings, Inc. L.P.
==============================================================================
CAPITALIZATION AND LIABILITIES
==============================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $32 $46,139
Retained earnings (15) (3,790)
----------------------------------
17 42,349
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 17,778
----------------------------------
Total capitalization 17 60,127
----------------------------------
Other long-term liabilities
----------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (15) 79
Accrued taxes
Accrued interest 336
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 17
----------------------------------
Total current liabilities (15) 432
----------------------------------
Accumulated deferred income taxes - net 15
Accumulated deferred investment tax credits
Customer advances and other deferred credits 1,042
----------------------------------
Total deferred credits 15 1,042
----------------------------------
Minority interest
----------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $17 $61,601
==================================
</TABLE>
<PAGE 291>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $133 $4,755 $211,379 ($216,644)
Retained earnings (258) (1,374) 45,377 29,549
-------------------------------------------------------
(125) 3,381 256,756 (187,095)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 58,564 (83,522)
-------------------------------------------------------
Total capitalization (125) 3,381 315,320 (270,617)
-------------------------------------------------------
Other long-term liabilities
-------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 300 1,956 (300)
Short-term debt
Accounts payable 1,051 38,983 (50,393)
Accrued taxes 300 (1,836)
Accrued interest 516 (3,288)
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 427 (103)
-------------------------------------------------------
Total current liabilities 300 1,051 42,182 (55,920)
-------------------------------------------------------
Accumulated deferred income taxes - net 4,204 122
Accumulated deferred investment tax credits
Customer advances and other deferred credits 36,626 (1,729)
-------------------------------------------------------
Total deferred credits 40,830 (1,607)
-------------------------------------------------------
Minority interest 501 (501)
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $175 $4,432 $398,833 ($328,645)
=======================================================
</TABLE>
<PAGE 292>
<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 $202,409
Retained earnings 58,848
------------
261,257
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 69,945
------------
Total capitalization 331,202
------------
Other long-term liabilities
------------
Current portion of long-term debt 1,956
Short-term debt
Accounts payable 2,643
Accrued taxes 584
Accrued interest 516
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 717
------------
Total current liabilities 6,416
------------
Accumulated deferred income taxes - net 5,752
Accumulated deferred investment tax credits
Customer advances and other deferred credits 38,834
------------
Total deferred credits 44,586
------------
Minority interest 503
------------
TOTAL CAPITALIZATION AND LIABILITIES $382,707
============
</TABLE>
<PAGE 293>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern
Investment CA Commerce
Company Calabasas Center
Consolidated Palatino Inc. North, L.P.
===================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $593 $(2,272) $24,351
------------------------------------------
Total operating revenue 593 (2,272) 24,351
------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 114 29,414
Maintenance
Depreciation and decommissioning
Income taxes (471) (202)
Property and other taxes 1 (15)
------------------------------------------
Total operating expenses (470) (88) 29,399
------------------------------------------
Operating income 1,063 (2,184) (5,048)
------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2
Minority interest
Other nonoperating income - net 688
------------------------------------------
Total other income (deductions) - net 690
------------------------------------------
Income before interest and other expenses 1,753 (2,184) (5,048)
------------------------------------------
Interest on long-term debt 5 27 170
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------
Total interest and other expenses - net 5 27 170
------------------------------------------
NET INCOME $1,748 ($2,211) ($5,218)
==========================================
</TABLE>
<PAGE 294>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Carol Irwindale Lusk-Mission
Stream Centrelake Corona Land Industrial
Developers Partners, L.P. Partners, L.P. Company Partners I
===========================================================================================================
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $5,946 $990 $1,115 $28,825
------------------------------------------------------------------
Total operating revenue 5,946 990 1,115 28,825
------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 6,079 1,047 338 $83 56,067
Maintenance 124 5 127 11
Depreciation and decommissioning 143 (2) 480 1
Income taxes 2 1 (108)
Property and other taxes (12) 240 133 49 107
------------------------------------------------------------------
Total operating expenses 6,334 1,292 1,079 36 56,174
------------------------------------------------------------------
Operating income (388) (302) 36 (36) (27,349)
------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2 12
Minority interest
Other nonoperating income - net (187)
------------------------------------------------------------------
Total other income (deductions) - net 2 (175)
------------------------------------------------------------------
Income before interest and other expenses (386) (302) (139) (36) (27,349)
------------------------------------------------------------------
Interest on long-term debt 52 303 478 121 229
Other interest expense 155 120
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------------
Total interest and other expenses - net 207 303 598 121 229
------------------------------------------------------------------
NET INCOME ($593) ($605) ($737) ($157) ($27,578)
==================================================================
</TABLE>
<PAGE 295>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Ontario
Airport Park Airport Mission Mission
Dvlp. Co. Ind. Park CCH I, L.P DAI I, L.P.
=================================================================================================
(Inactive)
<S> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $2,557
--------------------------------------------------------
Total operating revenue 2,557
--------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 798 $9 $254
Maintenance 219 6
Depreciation and decommissioning 905
Income taxes (31) 1
Property and other taxes 344 43 50
--------------------------------------------------------
Total operating expenses 2,235 52 311
--------------------------------------------------------
Operating income 322 (52) (311)
--------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 83
Minority interest 135
Other nonoperating income - net (106) 475
--------------------------------------------------------
Total other income (deductions) - net 112 475
--------------------------------------------------------
Income before interest and other expenses 434 (52) 164
--------------------------------------------------------
Interest on long-term debt 180
Other interest expense 457
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
--------------------------------------------------------
Total interest and other expenses - net 637
--------------------------------------------------------
NET INCOME ($203) $(52) $164
========================================================
</TABLE>
<PAGE 296>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial
Constructors, Mission Mission Mission Mission
Inc. Koll I, L.P. Nexus I, L.P. Nexus II, L.P. Oceangate
===========================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $35,702 $(4) $3,787
-----------------------------------------------------------------
Total operating revenue 35,702 (4) 3,787
-----------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $242 30,360 118 669
Maintenance 10 68 1 126
Depreciation and decommissioning 1,436 386
Income taxes $1 2 2 2
Property and other taxes 217 289 36 399
-----------------------------------------------------------------
Total operating expenses 1 471 32,155 157 1,580
-----------------------------------------------------------------
Operating income (1) (471) 3,547 (161) 2,207
-----------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 31
Minority interest
Other nonoperating income - net 28 5 8
-----------------------------------------------------------------
Total other income (deductions) - net 28 36 8
-----------------------------------------------------------------
Income before interest and other expenses (1) (443) 3,583 (161) 2,215
-----------------------------------------------------------------
Interest on long-term debt 137 (171) 2,922
Other interest expense 2,061 1,016
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
-----------------------------------------------------------------
Total interest and other expenses - net 2,198 (171) 3,938
-----------------------------------------------------------------
NET INCOME ($1) ($443) $1,385 $10 ($1,723)
=================================================================
</TABLE>
<PAGE 297>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Ontario Realco
Mission Mission Texas Mission Lakeshore Texas Master
Mission South Bay Property Vacaville Partners, Limited
Ontario Inc. Company Holdings, Inc. L.P. L.P. Partnership
===========================================================================================================
(Inactive)
<S> <C> <C> <C> <C> <C> <C>
Electric utility revenue
Diversified operations $30,537 $1,459 $936 $56,177
------------------------------------------------------------------------
Total operating revenue 30,537 1,459 936 56,177
------------------------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 26,582 1,225 252 52,177
Maintenance 111 75 107 610
Depreciation and decommissioning 2 1,113 349 632
Income taxes 906 $1 1 1 1
Property and other taxes 1,636 700 58 675
------------------------------------------------------------------------
Total operating expenses 29,237 1 3,114 767 54,095
------------------------------------------------------------------------
Operating income 1,300 (1) (1,655) 169 2,082
------------------------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used
during construction
Interest income 2 9
Minority interest
Other nonoperating income - net 153
------------------------------------------------------------------------
Total other income (deductions) 2 162
------------------------------------------------------------------------
Income before interest and other
expenses 1,300 (1) (1,653) 169 2,244
------------------------------------------------------------------------
Interest on long-term debt 2,138 157 787
Other interest expense 271 1,745
Allowance for borrowed funds used
during construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------------------------
Total interest and other expenses
- net 2,138 428 2,532
------------------------------------------------------------------------
NET INCOME $1,300 ($1) ($3,791) ($259) ($288)
========================================================================
</TABLE>
<PAGE 298>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Land
Land Consolidating Company
Company Adjustments Consolidated
=================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $10,941 $(48,200) $153,440
----------------------------------------
Total operating revenue 10,941 (48,200) 153,440
----------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 11,923 (86,051) 131,700
Maintenance 207 (1) 1,806
Depreciation and decommissioning 1,680 7,125
Income taxes (2,255) (251) (2,397)
Property and other taxes 1,234 (46) 6,138
----------------------------------------
Total operating expenses 12,789 (86,349) 144,372
----------------------------------------
Operating income (1,848) 38,149 9,068
----------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 3,640 1,238
Minority interest 135
Other nonoperating income - net 639 (2,620) 1,626
----------------------------------------
Total other income (deductions) - net 4,279 (2,620) 2,999
----------------------------------------
Income before interest and other expenses 2,431 35,529 12,067
----------------------------------------
Interest on long-term debt 875 (2,765) 5,645
Other interest expense 424 66 6,315
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
----------------------------------------
Total interest and other expenses - net 1,299 (2,699) 11,960
----------------------------------------
NET INCOME $1,132 $38,228 $107
========================================
</TABLE>
<PAGE 299>
<PAGE>
Mission Land Company and Subsidiaries
Equity Investments
December 31, 1994
<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 Mission-
Central Dominion Mission- 701 Parkway
Valley Partners I Shea I Minnesota Business Centre
L.P. L.P. Partners, Ltd.
Ownership Interest: 89.5% 60% 50.0% 71.2% 30.0%
Nature/Purpose of Business: (a) (b) (c) (d) (e)
Ownership Interest (000) in:
Assets $1 $0 $113 $112 $0
Revenues 2,943 $0 2,452 1,852 $0
Net Income (4,067) $0 (229) 1,144 $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 in Calabasas, California.
(b) To develop and sell condominiums in Culver City, California.
Investment in Dominion has been written off and Mission is involved
in litigation with the partner.
(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. The
investment in Parkway Business Centre Partners has been fully reserved.
<PAGE 300>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 132 132
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
---------------------------------------------------------
Total current assets 132 132
---------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 5,420 5,420
---------------------------------------------------------
Total deferred charges 5,420 5,420
---------------------------------------------------------
TOTAL ASSETS $7,504 $7,504
=========================================================
</TABLE>
<PAGE 301>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
(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 $(1) (12,333) (12,334)
---------------------------------------------------------
(1) (9,333) (9,334)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
---------------------------------------------------------
Total capitalization (1) (9,333) (9,334)
---------------------------------------------------------
Other long-term liabilities
---------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
---------------------------------------------------------
Total current liabilities
---------------------------------------------------------
Accumulated deferred income taxes - net 1,534 1,534
Accumulated deferred investment tax credits
Customer advances and other deferred credits 15,304 15,304
---------------------------------------------------------
Total deferred credits 16,838 16,838
---------------------------------------------------------
Minority interest
---------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $(1) $7,505 $7,504
=========================================================
</TABLE>
<PAGE 302>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Income Statement
For The Year Ended December 31, 1994
(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 utility revenue (Inactive)
Diversified operations
---------------------------------------------------------
Total operating revenue
---------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $51 $51
Maintenance
Depreciation and decommissioning
Income taxes (21) (21)
Property and other taxes
---------------------------------------------------------
Total operating expenses 30 30
---------------------------------------------------------
Operating income (30) (30)
---------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Other nonoperating income - net (2,738) (2,738)
---------------------------------------------------------
Total other income (deductions) - net (2,738) (2,738)
---------------------------------------------------------
Income before interest and other expenses (2,768) (2,768)
---------------------------------------------------------
Interest on long-term debt
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred securities
---------------------------------------------------------
Total interest and other expenses - net
---------------------------------------------------------
NET INCOME ($2,768) ($2,768)
=========================================================
</TABLE>
<PAGE 303>
<PAGE>
EXHIBIT B
FINANCIAL DATA SCHEDULE
The following is provided for SCEcorp on a consolidated basis:
Item No. Caption Heading Amount
- - - - -------- --------------- ------
1 Total Assets $ 22,390,247,000
2 Total Operating Revenues $ 8,344,589,000
3 Net Income $ 680,687,000
<PAGE 304>
<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.
4.5 GORDONSVILLE ENERGY, L.P.
SCEcorp
The Mission Group
Mission Energy Company
Madison Energy Company
Gordonsville Energy, L.P.
SCEcorp
The Mission Group
Mission Energy Company
Rapidan Energy Company
Gordonsville Energy, L.P.
<PAGE 305>
<PAGE>
FOREIGN UTILITY COMPANIES:
- - - - --------------------------
4.6 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
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 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
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Traralgon Power Pty Ltd
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
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<PAGE>
4.7 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.
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.
4.8 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.
4.9 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.
4.10 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.
4.11 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.
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<PAGE>
4.12 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.
4.13 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.
4.14 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.
4.15 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.
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.
<PAGE 308>
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4.16 LAKELAND POWER LIMITED
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited
Lakeland Power Limited
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Pride Hold Limited
Lakeland Power Limited
4.17 DERWENT COGENERATION LIMITED (not operational)
SCEcorp
The Mission Group
Mission Energy Company
MEC International B.V.
Mission Energy Company (UK) Limited
Derwent Cogeneration Limited
4.18 EPZ MISSION FUNDING MU TRUST
SCEcorp
The Mission Group
Mission First Financial
Mission Funding Company
Mission Funding Epsilon
Mission Funding Alpha
Mission Funding Mu
EPZ Mission Funding Mu Trust
4.19 EPZ MISSION FUNDING NU TRUST
SCEcorp
The Mission Group
Mission First Financial
Mission Funding Company
Mission Funding Epsilon
Mission Funding Delta
Mission Funding Nu
EPZ Mission Funding Nu Trust
<PAGE 309>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
Exhibit 27 to SCEcorp Form U-3A-2 for 12/31/94
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 22,390,247
<TOTAL-OPERATING-REVENUES> 8,344,589
<NET-INCOME> 680,687
</TABLE>
