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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
EDISON INTERNATIONAL
[formerly 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.
EDISON INTERNATIONAL (formerly 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. Edison
International has the following subsidiaries:
01 SOUTHERN CALIFORNIA EDISON COMPANY ("SCE") is a California
corporation having its principal place of business at 2244 Walnut
Grove Avenue (P. O. Box 800), Rosemead, California 91770. SCE 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 SCE.
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 SCE in optimizing the use of its resources
for the benefit of its ratepayers by marketing SCE'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 SCE.
02 SOUTHERN STATES REALTY is a California corporation engaged in
providing real estate brokerage and consulting services to SCE
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 EDISON EV is a California corporation having its principal place
of business at 2244 Walnut Grove Avenue, Rosemead, California
91770. It is engaged in the business of providing services
related to electric vehicle charging equipment.
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02 EDISON SOURCE is a California corporation having its principal
place of business at 2244 Walnut Grove Avenue, Rosemead,
California 91770. It is engaged in the business of providing
services related to energy efficient systems for home and
industry.
02 EDISON CAPITAL (formerly 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. Edison Capital owns a group of subsidiaries and
has interests in various partnerships through its subsidiaries.
The subsidiaries and partnerships of Edison Capital 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
Edison Capital.
03 Edison Funding Company (formerly Mission Funding Company)
04 Edison Integrated Energy Services (formerly 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 Mission (Bermuda) Investments Pi, 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 Edison Housing Investments (formerly Mission Housing Investments)
05 AE Associates L.P. (Avenida Espana) (partnership) 99%
05 Argyle Redevelopment Partnership, Ltd. (Colorado partnership) 99%
05 Bartlett Hill Associates L.P. (partnership) 70%
05 Centertown Associates Ltd. (partnership) 99%
05 Centro Partners L.P. (El Centro) (partnership) 99%
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 Farm (The) Associates L.P. (partnership) 99%
05 Gardens (The) Townhomes L.P. (commitment) 99%
05 Gilroy Redwood Associates L.P. (Redwoods) (partnership) 99%
05 Ginzton Associates L.P. (partnership) 99%
05 Grossman Apartments Investors L.P. (partnership) 99%
05 Heather Glen Associates L.P. (partnership) 99%
05 Holy Family Associates L.P. (partnership) 99%
05 Kennedy Court Partners L.P. (commitment) 100%
05 Kennedy Lofts Associates L.P. (Massachusetts partnership) 97%
05 MH I Limited Partnership (partnership) 1%
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06 California Park Apartments L.P. (partnership) 1% of 99%
05 MH II Limited Partnership (partnership) 1%
06 5363 Dent Avenue Associates L.P. (partnership) 1% of 99%
05 MH III Limited Partnership (partnership) 1%
06 DeRose Housing Associates L.P. (partnership) 1% of 99%
05 MH IV Limited Partnership (partnership) 1%
06 MPT Apartments L.P. (MacArthur Park) (partnership) 1% of 99%
05 MH V Limited Partnership (partnership) 1%
06 Centennial Place L.P. (partnership) 1% of 99%
05 Mar Associates L.P. (partnership) 99%
05 Merrill Road Associates L.P. (commitment) 99%
05 Metro Senior Associates L.P. (commitment) 99%
05 EHI Development Fund (formerly MHI Development Fund)
05 EHI Development Company (formerly MHI Development Company)
06 Santa Alicia Partnership (partnership) 1% of 99%
05 MHIFED 94 Company
05 MHIFED 94 L.P. (Delaware partnership) 1%GP; 99%LP to NYNEX
06 Berry Avenue Associates L.P. (partnership) 1% of 99%
06 Carlton Way Apartments L.P. (partnership) 1% of 99%
06 CDR Senior Housing Associates (Casa del Rio) (partnership) 1%
of 99%
06 Corona Ely/Ranch Associates L.P. (partnership) 1% of 99%
06 Fairview Village Associates L.P. (partnership) 1% of 99%
06 Fell Street Housing Associates L.P. (partnership) 1% of 99%
06 Hope West Apartments L.P. (partnership) 1% of 99%
06 Morrone Gardens Associates L.P. (partnership) 1% of 99%
06 Pajaro Court Associates L.P. (partnership) 1% of 99%
06 Tierra Linda Associates L.P. (partnership) 1% of 99%
06 Tlaquepaque Housing Associates L.P. (partnership) 1% of 99%
05 MHICAL 94 Company
06 MHICAL 94 Limited Partnership (Delaware partnership) 99%LP
07 Mayacamas Village Associates L.P. (partnership) 99% of 99%
07 Rincon De Los Esteros Associates L.P. (partnership) 99% of
99%
07 West Capital Courtyard L.P. (partnership) 99% of 99%
07 Winfield Hill Associates L.P. (partnership) 99% of 99%
05 MHICAL 94 Limited Partnership (Delaware partnership) 1%GP
06 Mayacamas Village Associates L.P. (partnership) 1% of 99%
06 Rincon De Los Esteros Associates L.P. (partnership) 1% of 99%
06 West Capital Courtyard L.P. (partnership) 1% of 99%
06 Winfield Hill Associates L.P. (partnership) 1% of 99%
05 MHIFED 95 Company
06 MHIFED 95 L.P. (Delaware partnership) 1%GP; 99%LP to NYNEX
06 Avalon Courtyard L.P. (Carson Sr Housing) (ptnrshp) 1% of 95%
06 Hollywood El Centro L.P. (partnership) 1% of 99%
06 La Brea/Franklin L.P. (partnership) 1% of 99%
06 Larkin Pine L.P. (partnership) 1% of 99%
06 Mercy Housing California III L.P. (3rd & Reed) (partnership)
1% of 99%
06 Pinole Grove Associates L.P. (partnership) 1% of 99%
06 Second Street Center L.P. (Santa Monica) (ptnrshp) 1% of 99%
06 Solinas Village Partners L.P. (partnership) 1% of 99%
06 Three Oaks Housing L.P. (partnership) 1% of 99%
06 1101 Howard Street Associates L.P. (partnership) 1% of 99%
05 MHICAL 95 Company
06 MHICAL 95 Limited Partnership (Delaware partnership) 99%LP
07 Abby Associates L.P. (Windmere) (partnership) 99% of 99%
07 Antelope Associates L.P. (partnership) 99% of 99%
07 Baker Park Associates L.P. (partnership) 99% of 99%
07 Bracher Associates L.P. (partnership) 99% of 99%
07 Catalonia Associates L.P. (partnership) 99% of 99%
07 Colina Vista L.P. (partnership) 99% of 99%
07 Florin Woods Associates L.P. (partnership) 99% of 99%
07 Pinmore Associates L.P. (partnership) 99% of 99%
07 Sunset Creek Partners L.P. (partnership) 99% of 99%
05 MHICAL 95 Limited Partnership (Delaware partnership) 1%GP
06 Abby Associates L.P. (Windmere) (partnership) 1% of 99%
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06 Antelope Associates L.P. (partnership) 1% of 99%
06 Baker Park Associates L.P. (partnership) 1% of 99%
06 Bracher Associates L.P. (partnership) 1% of 99%
06 Catalonia Associates L.P. (partnership) 1% of 99%
06 Colina Vista L.P. (partnership) 1% of 99%
06 Florin Woods Associates L.P. (partnership) 1% of 99%
06 Pinmore Associates L.P. (partnership) 1% of 99%
06 Sunset Creek Partners L.P. (partnership) 1% of 99%
05 Mission Housing Holdings (formerly MHIFED 95B Company)
06 Mission Housing Partnership 1996 Limited Partnership 99%LP
(formerly MHIFED 95B Limited Partnership) (Delaware
partnership)
07 La Terraza Associates L.P. (Carlsbad Villas at Camino Real)
(partnership) 99% of 99%
05 Mission Housing Partnership 1996 Limited Partnership 1%GP
(formerly MHIFED 95B L.P.) (Delaware partnership)
06 La Terraza Associates L.P. (Carlsbad Villas at Camino Real)
(partnership) 1% of 99%
05 MHIFED 95C Company
06 MHIFED 95C Limited Partnership (Delaware partnership) 99%LP
07 Oceanside Gardens L.P. (commitment) 99% of 99%
07 Park Place Terrace L.P. (partnership) 99% of 99%
05 MHIFED 95C Limited Partnership (Delaware partnership) 1%GP
06 Oceanside Gardens L.P. (commitment) 1% of 99%
06 Park Place Terrace L.P. (partnership) 1% of 99%
05 MHIFED 96 Company
06 MHIFED 96 Limited Partnership (Delaware partnership) 95%LP
07 Lavell Village Associates L.P. (partnership) 95% of 99%
07 North Town Housing Partners L.P. (Villa del Norte Village)
(partnership) 95% of 99%
07 Poco Way Associates L.P. (partnership) 95% of 99%
07 Seasons Affordable Senior Housing L.P. (ptnrshp) 95% of 99%
05 MHIFED 96 Limited Partnership (Delaware partnership) 5%GP
06 Lavell Village Associates L.P. (partnership) 5% of 99%
06 North Town Housing Partners L.P. (Villa del Norte Village)
(partnership) 5% of 99%
06 Poco Way Associates L.P. (partnership) 5% of 99%
06 Seasons Affordable Senior Housing L.P. (ptnrshp) 5% of 99%
05 MHIFED 96A Company
06 MHIFED 96A Limited Partnership (Delaware partnership) 99%LP
07 Altamont Hotel Associates L.P. (partnership) 99% of 99%
07 Good Samaritan Associates L.P. (partnership) 99% of 99%
07 Mercy Housing California VI L.P. (205 Jones) (partnership)
99% of 99%
07 North Park Village LLC (commitment) 99% of 99%
07 Reseda Village L.P. (partnership) 99% of 99%
07 Oxnard Housing Associates L.P. (partnership) 99% of 99%
07 Mercy Housing California IV L.P. (Vista Grande) (commitment)
99% of 99%
05 MHIFED 96A Limited Partnership (Delaware partnership) 1%GP
06 Altamont Hotel Associates L.P. (partnership) 1% of 99%
06 Good Samaritan Associates L.P. (partnership) 1% of 99%
06 Mercy Housing California VI L.P. (205 Jones) (partnership) 1%
of 99%
06 North Park Village LLC (commitment) 1% of 99%
06 Reseda Village L.P. (partnership) 1% of 99%
06 Oxnard Housing Associates L.P. (partnership) 1% of 99%
06 Mercy Housing California IV L.P. (Vista Grande) (commitment)
1% of 99%
05 MHICAL 96 Company
06 MHICAL 96 Limited Partnership (Delaware partnership) 99%LP
07 Huff Avenue Associates L.P. (commitment) 99% of 99%
07 Klamath Associates L.P. (commitment) 99% of 99%
05 MHICAL 96 Limited Partnership (Delaware partnership) 1%GP
06 Huff Avenue Associates L.P. (commitment) 1% of 99%
06 Klamath Associates L.P. (commitment) 1% of 99%
05 Mid-Peninsula Century Village Associates L.P. (Century Village)
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(commitment) 99%
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) 99% of 99%
06 MH II (partnership) 99%
07 5363 Dent Avenue Associates L.P. (partnership) 99% of 99%
06 MH III (partnership) 99%
07 DeRose Housing Associates L.P. (partnership) 99% of 99%
06 MH IV (partnership) 99%
07 MPT Apartments L.P. (MacArthur Park) (ptnrshp) 99% of 99%
06 MH V (partnership) 99%
07 Centennial Place L.P. (partnership) 99% of 99%
05 Mission Housing Denver
06 Mercantile Square L.P. (partnership) 99%
05 Mission Housing Epsilon
06 Riverside/Liebrandt Partners L.P. (La Playa) (ptnrshp) 99%
05 Mission Housing Zeta
06 Fremont Building Limited Partnership (Crescent Arms)
(partnership) 99%
05 Mission Housing Theta
06 Mission Housing Investors Partnership 5%GP; 95%LP to GECC
07 Forest Winds Associates L.P. (partnership) 5% of 99%
07 Glen Eden Associates L.P. (partnership) 5% of 99%
07 Gray's Meadows Investors L.P. (partnership) 5% of 99%
07 Prince Bozzuto L.P. (Fairground Commons) (Maryland
partnership) 5% of 99%
07 Rancho Park Associates L.P. (partnership) 5% of 99%
07 Rustic Gardens Associates L.P. (partnership) 5% of 99%
07 Sea Ranch Apartments L.P. (partnership) 5% of 99%
07 Springdale Kresson Associates L.P. (Jewish Federation) (New
Jersey partnership) 5% of 99%
07 1028 Howard Street Associates L.P. (partnership) 5% of 99%
05 Mission SA Company
06 Santa Alicia Partnership (partnership) 99% of 99%
05 Neary Lagoon Partners L.P. (partnership) 99%
05 Open Doors Associates L.P. (West Valley) (partnership) 99%
05 Palmer House L.P. (partnership) 99%
05 Pilot Grove L.P. (Massachusetts partnership) 99%
05 Post Office Plaza L.P. (Ohio partnership) 99%
05 Rosebloom Associates L.P. (Oakshade) (partnership) 99%
05 Round Walk Village Apartments L.P. (commitment) 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 Sky Parkway Housing Associates L.P. (commitment) 99%
05 South Beach Housing Associates L.P. (Steamboat) (ptnrshp) 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 Tabor Grand L.P. (Colorado partnership) 99%
05 The Josephinum Associates L.P. (Washington partnership) 99%
05 Tuscany Associates L.P. (Tuscany Villa) (partnership) 99%
05 Vista Properties LLC (commitment) 99%
05 Washington Creek Associates L.P. (partnership) 99%
05 Westgate Townhomes Associates L.P. (commitment) 99%
05 Westport Village Homes Associates L.P. (partnership) 99%
05 Wheeler Manor Associates L.P. (partnership) 99%
05 YWCA Villa Nueva Partners L.P. (partnership) 99%
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05 16th & Church Street Associates L.P. (partnership) 99%
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%
03 Mission Bartlett Hill Company
04 Bartlett Hill Associates L.P. (partnership) 30% [29%LP, 1%GP]
03 Mission International Capital, Inc.
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. (partnership) [in dissolution] 50%LP
03 Calabasas Palatino, Inc.
04 Central Valley/Calabasas L.P. (partnership) [in dissolution] 50%GP
03 Carol Stream Developers G.P. (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 Mission Airport Park Development Co.
04 Carol Stream Developers G.P. (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 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-DAI I, L.P. (limited partnership) (inactive) (equity) 60%LP
03 Mission-Dominion Partners I, L.P. (partnership) (equity) 60%LP
03 Mission Industrial Constructors, Inc. (inactive)
03 Mission-Koll I (limited partnership) 96%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-Oceangate (partnership) (formerly Mission Comstock, Crosser
Hickey G.P.) 25%GP
03 Mission Texas Property Holdings, Inc.
03 Mission Vacaville Limited Partnership (limited partnership) (formerly
Mission-Messenger Vacaville G.P.) 99%LP
03 Mission-701 Minnesota (limited partnership) (equity) 55%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)
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02 EDISON MISSION ENERGY (formerly MISSION ENERGY COMPANY) is a
California corporation having its principal place of business at
18101 Von Karman Avenue, Suite 1700, Irvine, California 92715.
Edison Mission Energy 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. Edison Mission Energy, 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 Edison Mission Energy subsidiaries have made fuel-related
investments and a limited number of non-energy related
investments. The subsidiaries and partnerships of Edison Mission
Energy 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 Edison Mission Energy.
DOMESTIC:
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] 50%LP; 100%
w/ Mission/Eagle and Thorofare
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 G.P.) 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 G.P.) 50%
03 Bretton Woods Energy Company (GP & LP)
04 Bretton Woods Cogeneration, L.P. (Delaware L.P.) 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 partners; option Chesapeake, VA)
03 Clayville Energy Company
04 Oconee Energy, L.P. (Delaware L.P.) 50%; 100% w/Coronado
03 Colonial Energy Company (formerly Hentland Energy Company) (inactive)
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 L.P.) 50%; 100% w/Clayville
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03 Crescent Valley Energy Company (GP)
04 Beowawe Geothermal Power Company (general partnership) 50%
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) [dissolving]
03 Edison Mission Operation & Maintenance, Inc. (formerly Mission
Operation and Maintenance, Incorporated) (no partnership)
04 Mission Operations de Mexico, S.A. de C.V. 95%
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 corp) (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 ptnrshp) 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 ptnrshp) 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 Peaker, L.P. (Delaware L.P.) 50%; 100% w/Silver Springs
03 Lehigh River Energy Company (GP)
04 TEVCO/Mission Assets Partnership (Delaware G.P.) 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
03 Mission Capital (Delaware Limited Partnership) 3%; MIPS partnership
03 Mission/Eagle Energy Company
04 Crown Energy, L.P. (New Jersey partnership) [see 4.3] 2%GP; 100% w/
Arrowhead and Thorofare
05 Crown Vista Urban Renewal Corporation (New Jersey corporation)
50%; 100% with Vista Energy
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 Construction Services, Inc. (formerly Glenwood Springs
Property, Inc.)
03 Mission Energy Fuel Company
04 Mission Energy Oil and Gas Company
<page 9>
05 Four Star Oil & Gas Company (partnership) 47.32% (owns Lost Hills
Cogeneration Facility)
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 Holdings International, Inc. (formerly Patapsco Energy
Company) [holds all the issued and outstanding stock of MEC
International B.V.--see INTERNATIONAL section]
03 Mission Energy Indonesia (formerly Chula Energy Company)
03 Mission Energy Mexico (inactive) Formerly the branch 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% [see 4.21]
03 Mission Energy Wales Company (formerly San Jacinto Energy Company)
04 Mission Hydro L.P. (UK limited partnership) 30%LP
05 First Hydro Holdings Company 99%
06 First Hydro Finance plc
07 First Hydro Limited [see 4.20]
03 Mission Energy Westside, Inc. (formerly Sun Coast Energy Company)
03 Mission Operations de Mexico, S.A. de C.V. 5%
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]
03 Northern Sierra Energy Company (GP)
04 Sobel Cogeneration Company (general partnership) 50%
03 Ortega Energy Company (Mid-County Cogen gas contracts)
03 Panther Timber Company (GP)
04 American Kiln Partners, L.P. (Delaware limited partnership) 2%
03 Paradise Energy Company
04 Vista Energy, L.P. (New Jersey limited partnership) [see 4.4] 50%LP;
100% with Vista Energy Company
05 Crown Vista Urban Renewal Corporation (New Jersey corporation)
50%; 100% w/Crown Energy
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 L.P.) 24.75%
04 Hopewell Cogeneration Inc. (Delaware corporation) 25%
05 Hopewell Cogeneration Limited Partnership (Delaware L.P.) 1%
03 Quartz Peak Energy Company (LP)
04 Nevada Sun-Peak Limited Partnership (Nevada ptnrshp) [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 ptnrshp) 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. (limited liability company) 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)
<page 10>
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 ptnrshp) 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 Peaker, L.P. (Delaware L.P.) 50%; 100% w/Lakeview
03 Sonoma Geothermal Company (GP & LP)
04 Geothermal Energy Partners Ltd. (partnership) (Aidlin) 5%LP
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 Thorofare Energy Company
04 Crown Energy, L.P. (New Jersey partnership) [see 4.3] 48%; 100% w/
Arrowhead and Mission/Eagle
05 Crown Vista Urban Renewal Corporation (New Jersey corporation)
50%; 100% w/ Vista Energy
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] 50%GP;
100% w/ Paradise
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%
INTERNATIONAL:
04 MEC International B.V. (Netherlands corporation) (Holding Company)
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) 99%SH
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 0923
06 Mission China Holdings Company (Cayman Island) (Meizhou Wan
Project) 99%
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 0923
07 Fujian Electric (Hong Kong) LDC 20%SH
Address: c/o Caledonian Bank & Trust Limited, Ground Floor,
Caledonian House, Mary Street, P. O. Box 1043,
George Town, Grand Cayman, Cayman Islands
06 Mission Ningbo Holdings Company (Cayman Island) (Ningbo
Project) 100%
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 0923
05 Edison Mission Energy Holdings Pty Ltd (formerly Mission Energy
Holdings Pty. Ltd.) (Australian corporation) 100%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
06 Edison Mission Operation & Maintenance Kwinana Pty Ltd
(formerly Mission Operations (Kwinana) Pty Ltd) (Australia)
100% Operator of Kwinana Project
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
<page 11>
06 Edison Mission Operation & Maintenance Loy Yang Pty Ltd.
(formerly Mission Energy Management Australia Pty. Ltd.)
(Australian corporation) 100%
Address: P. O. Box 1792, Traralgon, Victoria 3844, Australia
06 Mission Energy Development Australia Pty. Ltd. (Australian
corporation) 100%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
06 Mission Energy Holdings Superannuation Fund Pty Ltd.
(retirement fund required by Australia law) 100%
06 Mission Energy (Kwinana) Pty Ltd (Australia) 100%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
07 Kwinana Power Partnership (Australian G.P.) 1%
Address: Level 23, St. Martins Tower
44 St George's Terrace, Perth WA 6000
05 Hydro Energy B.V. (Netherlands limited liability company)
(formerly Continfin Management B.V.) (equity) 10%SH
Address: Croeselaan 18, P. O. Box 2790,
3500 GT Utrecht, The Netherlands
06 Compania Mediterranea de Energias, S.A. (Spain corporation)
(equity) [see 4.7]
Address: Paseo de Gracia, 18, 4a, Barcelona, Spain
06 Energias Hidraulicas, S.A. (Spain corporation) (equity)
Address: Princesa 3, Madrid, Spain
06 Iberica de Energias, S.A. (Spain corp) (equity) [see 4.15]
Address: c/ Concha Espina, 8, 1o, Madrid, Spain
05 Iberian Hy-Power Amsterdam B.V. (Netherlands limited liability
company) (equity) 34%SH
Address: Strawinskylaan 1725, Amsterdam, NOORD-HOLL 1077 XX
06 Electra La Mella, S.A. (Spain corporation) (equity) [see 4.8]
70% [This entity was merged into Cadagua in December 1995]
Address: Ercilla, 26-6o Centro, 48011 Bilbao, Spain
06 Electrometalurgica del Ebro, S.A. ("Emesa") (Spain corporation)
(equity) [see 4.9] 92.3%
Address: Paseo de Gracia, 18, 4a, Barcelona, Spain
07 Monasterio de Rueda, S.L. (inactive)
06 Hidroelectrica del Cadagua, S.A. (Spain corporation) (equity)
[see 4.10] 75%
Address: Ercilla, 26-6o Centro, 48011 Bilbao, Spain
06 Hidroelectrica de Casillas, S.A. (Spain corporation) (equity)
[see 4.11] 51%
Address: Av. Ramon & Cajal, 10-B, Sevilla, Spain
06 Hidroelectrica de Olvera, S.A. (Spain corporation) (equity)
[see 4.12] 66%
Address: Urbanizacion Las Canteras II, Camas, Sevilla, Spain
06 Hidroelectrica de Posadas, S.A. (Spain corporation) (equity)
[see 4.13] 100%
Address: Urbanizacion Las Canteras II, Camas, Sevilla, Spain
06 Hidroelectrica del Sossis, S.A. (Spain corporation) (equity)
[see 4.14] 100%
Address: Ercilla, 26-6o Centro, 48011 Bilbao, Spain
07 Saltos del Porma, S.A. 0.1%
06 Hidro Holdings 2 100%
06 Hydro Energy B.V. (Netherlands company) (equity) 90%SH
07 Compania Mediterranea de Energias, S.A. (Spain corporation)
(equity) [see 4.7]
07 Energias Hidraulicas, S.A. (Spain corporation) (equity)
07 Iberica de Energias, S.A. (Spain corp) (equity) [see 4.15]
07 Saltos del Porma, S.A. 0.1%
06 Saltos del Porma, S.A. 98%
05 Latrobe 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) 52.31%
(100% w/ Traralgon PPL 46.69% and MEVALP 1%)
07 Latrobe Power Partnership (Australian partnership) 99%
<page 12>
08 Loy Yang B Joint Venture (Australian joint venture) [see
4.6] 51%; 49% to outside partner
05 Loy Yang Holdings Pty. Ltd. (Australian corporation) 100%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
06 Edison Mission Energy Australia Ltd. (formerly Mission Energy
Australia Ltd.) (Australian public company) 100%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
07 Latrobe Power Partnership (Australian partnership) 1%
08 Loy Yang B Joint Venture (Australian J.V.) [see 4.6]
06 Latrobe Power Pty. Ltd. (Australian corporation) 50%
07 Mission Victoria Partnership (Australian partnership)
08 Latrobe Power Partnership (Australian partnership)
09 Loy Yang B Joint Venture (Australian J.V.) [see 4.6]
06 Mission Energy Ventures Australia Pty. Ltd. (Australian
company) 100%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
07 Mission Victoria Partnership (Australian partnership) 1%
08 Latrobe Power Partnership (Australian partnership)
09 Loy Yang B Joint Venture (Australian J.V.) [see 4.6]
06 Traralgon Power Pty. Ltd. (Australian corporation) 50%
Address: Southgate Complex, Level 20, Tower East,
40 City Road, South Melbourne, Victoria 3205
07 Mission Victoria Partnership (Australian ptnrshp) 46.69%
08 Latrobe Power Partnership (Australian partnership)
09 Loy Yang B Joint Venture (Australian J.V.) [see 4.6]
05 MEC Colombia B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 MEC Esenyurt B.V. (Netherlands company) (Doga Project) 99%SH
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Doga Enerji Uretim Sanayi ve Ticaret A.S. (Turkish corporation)
80%
Address: Merkez Man, Birlik Caddesi 11/8,
Esenyurt, Istanbul, Turkey
05 MEC IES B.V. (formerly MEC ESA B.V.) (Netherlands company) (ISAB
Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 ISAB Energy Services s.r.l. 49% (services co ISAB Project)
05 MEC India B.V. (Netherlands company) (Jojobera Project) 99%SH
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Edison Mission Energy (Mauritius corporation) (formerly Mission
Energy Jojobera) (Branch office in India)
Address: Louis Leconte Street, Curepipe, Mauritius
05 MEC Indo Coal B.V. (Netherlands company) (Adaro Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 P. T. Adaro Indonesia 10%
Address: Suite 704, World Trade Centre, Jl. Jend.
Sudirman Kav. 31, Jakarta 12920 Indonesia
05 MEC Indonesia B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 P. T. Paiton Energy Company (Indonesia company) (equity)
(Paiton Project) 32.5%SH [see 4.22]
Address: Mid Plaza II, 15th Floor, Jl. Jend. Sudirman
Kav. 10-11, Jakarta 10220 Indonesia
05 MEC International Holdings B.V. (Netherlands corp) 100%SH
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Asia Power Development Company (Cayman Island) (Meizhou Wan,
Ningbo and Nanhai Projects) 1%SH
07 Mission China Holdings Company (Cayman Island) (Meizhou Wan
Project)
08 Fujian Electric (Hong Kong) LDC
07 Mission Ningbo Holdings Company (Cayman Island) (inactive)
06 MEC Colombia B.V. (Netherlands company) 1%
06 MEC Esenyurt B.V. (Netherlands company) (Doga Project) 1%SH
07 Doga Enerji Uretim Sanayi ve Ticaret A.S. (Turkish
<page 13>
corporation)
06 MEC IES B.V. (Netherlands company) (ISAB Project) 1%SH
07 ISAB Energy Services s.r.l.
06 MEC India B.V. (Netherlands company) (Jojobera Project) 1%SH
07 Edison Mission Energy (Mauritius corporation) (formerly
Mission Energy Jojobera)
06 MEC Indo Coal B.V. (Netherlands company) (Adaro Project) 1%SH
07 P. T. Adaro Indonesia
06 MEC Indonesia B.V. (Netherlands company) 1%
07 P. T. Paiton Energy Company (Indonesia company) (equity)
(Paiton Project) [see 4.22]
06 MEC Laguna Power B.V. (Netherlands Co.) (Malaya Project) 1%SH
06 MEC Mission B.V. (Netherlands company) 1%
06 MEC Perth B.V. (Netherlands company) (Kwinana Project) 1%SH
07 Kwinana Power Partnership (Australian general partnership)
06 MEC Priolo B.V. (Netherlands company) (ISAB Project) 1%SH
07 ISAB Energy, S.r.l. (Italian J.V. Co.)(equity) [see 4.23]
06 MEC San Pascual B.V. (Netherlands company) 1%SH
07 San Pascual Cogeneration Company International B.V.
06 MEC Turkey B.V. (Netherlands company) 1%
06 MEC Wales B.V. (formerly MEC Global Services B.V.) (Netherlands
Company) 1%
07 Mission Hydro Limited Partnership (UK limited partnership)
08 First Hydro Holdings Company
09 First Hydro Finance plc
10 First Hydro Limited [see 4.20]
06 Mission Energy Italia s.r.l. 1% (Office in Italy)
06 Mission China Holdings Company (Cayman Island) (Meizhou Wan
Project) 1%
07 Fujian Electric (Hong Kong) LDC
06 P.T. Mission Operation and Maintenance Indonesia (Indonesian
company) 1%
05 MEC Laguna Power B.V. (Netherlands Co.) (Malaya Project) 99%SH
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 MEC Mission B.V. (Netherlands company) 99%SH
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 MEC Perth B.V. (Netherlands company) (Kwinana Project) 99%
06 Kwinana Power Partnership (Australian G.P.) 99%
Address: Level 23, St. Martins Tower
44 St George's Terrace, Perth WA 6000
05 MEC Priolo B.V. (Netherlands company) (ISAB Project) 99%SH
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 ISAB Energy, S.r.l. (Italian JV Co) (equity) 49%SH [see 4.23]
Address: Corso Gelone No. 103, Siracusa, Sicily, Italy
05 MEC San Pascual B.V. (Netherlands company) 99%SH
Address: Croeselaan 18, 3521 GT Utrecht, The Netherlands
06 San Pascual Cogeneration Company International B.V. 45%
Address: Croeselaan 18, 3521 GT Utrecht, The Netherlands
05 MEC Turkey B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 MEC Wales B.V. (formerly MEC Global Services, B.V.)(Netherlands
company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Mission Hydro Limited Partnership 69%LP
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
07 First Hydro Holdings Company 99%
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
08 First Hydro Finance plc
Address: Lansdowne Hse,Berkeley Sq, London W1X5DH England
09 First Hydro Limited [see 4.20]
Address: Bala House, St. David's House
Ewloe, Clwyd, Wales CH5 3XJ
05 Mission Energy Asia Pte Ltd. (Singapore private company limited
by shares) 100% (Branch Office in Singapore)
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 0923
06 P.T. Mission Operation and Maintenance Indonesia (Indonesian
<page 14>
company) 99%
Address: Jl Gen A Yani No 54,Probolinggo,East Java, Indonesia
05 Mission Energy Company (UK) Limited (United Kingdom private
limited company) 100%
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
06 Derwent Cogeneration Limited (United Kingdom private limited
liability company) (equity) [see 4.17] 33%
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
06 Edison Mission Energy Limited (formerly Mission Energy Limited)
(United Kingdom private limited company)
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
06 Mission Energy Services Limited (United Kingdom private limited
company)
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
06 Mission Hydro (UK) Limited
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
07 First Hydro Holdings Company 1%
08 First Hydro Finance plc 1%
09 First Hydro Limited [see 4.20]
07 Mission Hydro Limited Partnership 1%GP
08 First Hydro Holdings Company 99%
09 First Hydro Finance plc
10 First Hydro Limited [see 4.20]
06 Mission (No. 2) Limited (United Kingdom private limited
company) (formerly Mowlem Power Ltd.)
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
06 Pride Hold Limited (United Kingdom corporation) 99%
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
07 Lakeland Power Limited (United Kingdom private company) [see
4.16] 80%SH
Address: Roosecote Power Station, Barrow-In-Furness,
Cumbria LA13 OPR England
07 Lakeland Power Development Company (U.K. Corp) 100%
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
05 Mission Energy Italia s.r.l. 90% Representative Office in Italy
Address: Villa Brasini, Via Flaminia 497, 00191 Rome Italy
05 Pride Hold Limited (United Kingdom corporation) 1%
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
06 Lakeland Power Limited (United Kingdom private limited
liability company) [see 4.16]
Address: Roosecote Power Station, Barrow-In-Furness,
Cumbria LA13 OPR England
06 Lakeland Power Development Company (U.K. Corp.)
Address: Lansdowne Hse, Berkeley Sq, London W1X5DH England
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) 46.69%
07 Latrobe Power Partnership (Australian partnership)
08 Loy Yang B Joint Venture (Australian J.V.) [see 4.6]
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
<page 15>
distribution of natural or manufactured gas. None of Claimant's
subsidiaries, other than SCE, is a public utility company. SCE 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.
SCE 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 and
the oil- and gas-fueled generating plants are supported by a fuel pipeline
and storage system. SCE 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. SCE 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 SCE-owned generating plants with
their locations, initial dates of operation and generator nameplate
ratings.
SCE's transmission facilities consist of approximately 6,591 circuit
miles of 66kV, 115kV and 161kV lines, 3,261 circuit miles of 230kV lines
and 500kV line circuit miles consisting of 1,038 miles in California, 125
miles in Nevada and 112 miles in Arizona, for a total 500kV miles of
1,275. SCE's distribution facilities consist of approximately 61,427 pole
miles of overhead lines and 29,497 miles of underground lines, and 507
distribution substations, all of which are located in California.
3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH RESPECT TO
CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES:
(a) NUMBER OF KWH OF ELECTRIC ENERGY SOLD (AT RETAIL OR WHOLESALE),
AND MCF OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL.
Claimant: None.
SCE: 71,481,575,000 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.
SCE: 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.
SCE: 887,743,000 kwh of electric energy sold at
wholesale outside California or at the state line.
(d) NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR
MANUFACTURED GAS PURCHASED OUTSIDE THE STATE IN WHICH EACH SUCH
COMPANY IS ORGANIZED OR AT THE STATE LINE.
Claimant: None.
SCE: 6,270,394,418 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:
(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
<page 16>
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).
4.1 COMMONWEALTH ATLANTIC LIMITED PARTNERSHIP [EWG]
(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) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, 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. Edison Mission Energy 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 1995 = $483,393
(e) There are no contracts between CALP and any system company.
4.2 NEVADA SUN-PEAK LIMITED PARTNERSHIP [EWG]
(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) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Quartz Peak Energy Company, which in turn owns Nevada Sun-Peak
<page 17>
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 = $1,138,648
(e) There are no contracts between Nevada Sun-Peak and any system
company.
4.3 CROWN ENERGY, L.P. (canceled) [EWG]
(a) Crown Energy, L.P. ("Crown")
Paradise Road at Crown Point Road,
Thorofare, New Jersey 08086
In August 1995, Jersey Central Power & Light Company entered
into an agreement with Crown to buy back and cancel the power
purchase agreement the two previously entered into. Crown
Energy is no longer being developed.
4.4 VISTA ENERGY, L.P. (canceled) [EWG]
(a) Vista Energy, L.P. ("Vista")
Paradise Road at Crown Point Road
Thorofare, New Jersey 08086
In August 1995, Jersey Central Power & Light Company entered
into an agreement with Crown to buy back and cancel the power
purchase agreement the two previously entered into. Vista
Energy is no longer being developed.
4.5 GORDONSVILLE ENERGY, L.P. [EWG]
(a) Gordonsville Energy, L.P. ("GELP")
115 Red Hill Road, Gordonsville, VA 22942
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) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, 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
Edison Mission Energy 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.
<page 18>
(d) Capitalization or total equity = $25,752,500
Net income after taxes = $986,253
(e) Edison Mission Operation & Maintenance, Inc. ("MOMI") operates
this facility. MOMI received $802,407 in compensation as
operator in 1995.
4.6 LOY YANG B JOINT VENTURE [FUCO]
(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) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Mission Energy, which owns
100% of Mission Energy Holdings International, Inc., which owns
100% of MEC International B.V.; indirect, wholly owned
subsidiaries of MEC International B.V. collectively own 51% of
the interests in Loy Yang B Joint Venture, the foreign utility
company, as explained below.
The system-owned venturer is Latrobe Power Partnership ("LPP"),
which owns the 51% interest. LPP is 1% owned by Edison Mission
Energy Australia Ltd (the managing general partner) and 99%
owned by Mission Victoria Partnership (a general partner).
Edison 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$285,003,038
Guarantees
1. EME Undertaking
In the document between Edison Mission Energy and the Bank
Group entitled "MEC Undertaking," Edison Mission Energy is
obligated (i) to support all performance obligations of
Edison Mission Operation & Maintenance Loy Yang Pty Ltd
("EMOMILY") (the Operator under the Operation and
Maintenance Agreement) and (ii) to provide up to
US$3,381,000 in any year to EMOMILY in the event that
EMOMILY 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 Edison Mission Energy to
execute a document entitled "Delta Risk Charge--Covenant
<page 19>
Guarantee and Indemnity" whereby Edison Mission Energy
guaranteed payment to the SECV of amounts equal to the
amounts payable by SECV to LPP under the compensation
mechanism described above. Edison 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 Edison Mission
Energy's exposure under this guarantee would be
approximately US$3,381,000.
3. Equity Support Guarantee
In the document between Edison Mission Energy and the Bank
Group entitled "Equity Support Guarantee," Edison 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 Edison 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 Income after taxes = US$16,752,000
LPP's Equity = US$285,003,038
(e) An indirect, wholly owned subsidiary of MEC International B.V.,
Edison Mission Operation & Maintenance, Inc., operates the
generating plant pursuant to an operating and maintenance
contract. The intermediate holding company of Edison Mission
Operation & Maintenance Loy Yang Pty Ltd. is Edison Mission
Energy Holdings Pty Ltd. As operator, Edison Mission Operation
& Maintenance Loy Yang 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 1995, Edison Mission Operation & Maintenance Loy Yang Pty
Ltd was paid as follows: Management Fee -- US$1,342,571;
Operator Incentive -- US$807,263
<PAGE>
<page 20>
4.7 COMPANIA MEDITERRANEA DE ENERGIAS, S.A. [FUCO]
(a) Compania Mediterranea de Energias, S.A. ("Mediterranea")
Paseo de Gracia, 18, 4a, Barcelona, Spain
Mediterranea's facilities consist of the following five
mini-hydroelectric facilities which are capable of producing
a total of 22.25MW:
1. Mendavia: 5.60MW facility in Mendavia, Navarra
2. La Ribera: 4.40MW facility in Pradejon, La Rioja
3. Gelsa: 7.20MW facility in Gelsa, Zaragoza
4. Alos: 4.80MW facility in Alos de Balaguer, Lerida
5. Castellas: 2.25MW facility in Valls de Aguilar, Lerida
(b) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Mission Energy Holdings International, Inc., which owns 100% of
MEC International B.V. ("MECI"), which 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, 1995, the
present value of the deferred payments will amount to $19.2
million ($46.6 million face value discounted at 11.5%).
(d) Capitalization or total equity = 0
Net Income after taxes for 1995 = $437,477
(e) There are no contracts between Mediterranea and any system
company.
4.8 ELECTRA LA MELLA, S.A. [FUCO]
This entity was merged into Hidroelectrica del Cadagua, S.A.,
in December 1995.
4.9 ELECTROMETALURGICA DEL EBRO, S.A. [FUCO]
(a) Electrometalurgica del Ebro, S.A. ("EMESA")
Paseo de Gracia, 18, 4a, Barcelona, Spain
EMESA's facilities consist of three mini-hydroelectric
facilities (Sastago I, Sastago II and Menza) all located near
<page 21>
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) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Mission Energy Holdings International, Inc., which owns 100% of
MEC International B.V., which owns 34% of Iberian Hy-Power
Amsterdam B.V., which owns 92.3% of EMESA.
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $3,140,000.
(d) Capitalization or total equity = 0
Net Loss after taxes for 1995 = ($3,928,000) (estimated)
(e) There are no contracts between EMESA and any system company.
4.10 HIDROELECTRICA DEL CADAGUA, S.A. [FUCO]
(a) Hidroelectrica del Cadagua, S.A. ("Cadagua")
Nava de Mena, Termino Municipal de Villasana de Mena, Burgos
Central offices: 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) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Mission Energy Holdings International, Inc., which owns 100% of
MEC International B.V., which 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 $1,998,265.
(d) Capitalization or total equity = $285,466 (estimated)
Net Loss after taxes for 1995 = ($42,800) (estimated)
(e) There are no contracts between Cadagua and any system company.
4.11 HIDROELECTRICA DE CASILLAS, S.A. (not operational) [FUCO]
(a) Hidroelectrica de Casillas, S.A. ("Casillas")
Av. Ramon y Cajal, 10-B, Sevilla, Spain
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $356,833.
Casillas will not become operational until late 1997.
4.12 HIDROELECTRICA DE OLVERA, S.A. [FUCO]
(a) Hidroelectrica de Olvera, S.A. ("Olvera")
Urbanizacion Las Canteras II, Camas, Sevilla, Spain
Olvera's facilities consist of a 2.2 MW mini-hydroelectric,
concrete dam facility located near the Guadalimar River, east
of Linares (Jaen).
<PAGE>
<page 22>
(b) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Mission Energy Holdings International, Inc., which owns 100% of
MEC International B.V., which 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 $142,733.
(d) Capitalization or total equity = $0 (estimated)
Net Loss after taxes for 1995 = ($691,543) (estimated)
(e) There are no contracts between Olvera and any system company.
4.13 HIDROELECTRICA DE POSADAS, S.A. (not operational) [FUCO]
(a) Hidroelectrica de Posadas, S.A. ("Posadas")
Urbanizacion Las Canteras II, Camas, Sevilla, Spain
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $178,417.
Posadas is not expected to become operational until late 1997.
4.14 HIDROELECTRICA DEL SOSSIS, S.A. [FUCO]
(a) Hidroelectrica del Sossis, S.A. ("Sossis")
Ercilla, 26-6o Centro, 48011 Bilbao, Spain
Sossis' facilities consist of a 3.75 MW concrete weir,
mini-hydroelectric facility located in Noguera Pallovesa, north
of Lerida, Catalonia.
(b) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Mission Energy Holdings International, Inc., which owns 100% of
MEC International B.V., which 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 $892,083.
(d) Capitalization or total equity = $0 (estimated)
Net Income after taxes for 1995 = $270,480 (estimated)
(e) There are no contracts between Sossis and any system company.
4.15 IBERICA DE ENERGIAS, S.A. [FUCO]
(a) Iberica de Energias, S.A. ("Iberica")
c/ Concha Espina, 8, 1o, 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: 1.48MW facility in Herrera de Valdecana,
Palencia
2. La Flecha: 2.66MW facility in Arroyo Encomienda,
Valladolid
3. Toro: 4.50MW facility in Toro, Zamora
4. Tudela: 1.48MW facility in Tudela de Duero, Valladolid
5. Sardon Bajo: 1.60MW facility in Villabanez, Valladolid
6. Bocos: 1.60MW facility in Bocos de Duero, Valladolid
7. Monasterio: 1.60MW facility in Quintanilla de Arriba,
Valladolid
8. Logrono: 3.68MW facility in Logrono, La Rioja
<page 23>
(b) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Mission Energy Holdings International, Inc., which owns 100% of
MEC International B.V., which 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. Edison Mission Energy
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
Edison Mission Energy provides for no rights of acceleration by
CGE under any circumstances. At December 31, 1995, the present
value of the deferred payments will amount to $19.2 million
($46.6 million face value discounted at 11.5%).
(d) Capitalization or total equity = $0 (estimated)
Net Income after taxes for 1995 = $1,166,888 (estimated)
(e) There are no contracts between Iberica and any system company.
4.16 LAKELAND POWER LIMITED [FUCO]
(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.
(b) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Mission Energy, which owns
100% of Mission Energy Holdings International, Inc., 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) The capital contribution made by MECI through Pride Hold
Limited was $19,742,455.
(d) Capitalization or total equity = $0.
Net income after taxes for 1995 = US$4,979,057.
(e) There are no contracts between Lakeland and any system company.
<PAGE>
<page 24>
4.17 DERWENT COGENERATION LIMITED [FUCO]
(a) Derwent Cogeneration Limited ("Derwent")
Lansdowne House, Berkeley Square, London W1X5DH England
The 214 MW plant at Spondon, Derbyshire, England, went into
operation in 1995.
(b) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Mission Energy, which owns
100% of Mission Energy Holdings International, Inc., which owns
100% of MEC International B.V.; MEC International B.V. owns
100% of Mission Energy Company (UK) Limited which owns 33% of
Derwent Cogeneration Limited.
(c) Total capital contribution = US$12,485,130 (approx.)
(d) Capitalization or total equity = US$12,485,130 (approx.)
Net Loss after taxes for 1995 = (US$2,609,254) (approx.)
(e) Mission Energy Services Limited ("MESL") provided construction
management services to Derwent Cogeneration Limited throughout
the construction phase of the project and is now the operator
of the facility. MESL is to receive a fixed fee of US$381,470
per year for operation and maintenance services as well as
reimbursement from Derwent for expenditures incurred for
operation and maintenance services; however, in 1995, MESL only
received US$255,584 for nine months of service. MESL received
a one-time fee of US$65,535 in 1995.
4.18 EPZ MISSION FUNDING MU TRUST [FUCO]
(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.
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) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Capital, which owns 100% of
Edison 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.
<page 25>
(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 = $1,458,123
(e) There are no contracts between EPZ and any system company.
4.19 EPZ MISSION FUNDING NU TRUST [FUCO]
(a) EPZ Mission Funding Nu Trust ("EPZMFNT")
c/o Wilmington 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 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) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Capital, which owns 100% of
Edison 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 = $3,474,930
<page 26>
(e) There are no contracts between EPZ and any system company.
4.20 FIRST HYDRO LIMITED [FUCO]
(a) First Hydro Limited ("First Hydro")
Bala House, St. David's House, Ewloe, Clwyd, Wales CH5 3XJ
The principal assets of First Hydro are two pumped storage
stations located in North Wales at Dinorwig and Ffestiniog
which have a combined registered capacity of 2,088MW. These
facilities were built to provide additional generation for
meeting peak demand throughout the day and to provide rapid
generation response to sudden changes in electricity demands.
(b) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which through its
subsidiaries (i) wholly owned Mission Energy Wales Company,
owns 30%LP of Mission Hydro Limited Partnership, which in turn
owns 99% of First Hydro Holdings Company, which owns 100% of
First Hydro Finance plc, which owns 100% of First Hydro
Limited; (ii) wholly owned Mission Energy Holdings
International, Inc. owns 100% of MEC International B.V., which
owns 100% of Mission Energy Company (UK) Limited, which owns
100% of Mission Hydro (UK) Limited, which in turn directly owns
1% of First Hydro Holdings Company and indirectly owns the
remaining 99% of First Hydro Holdings Company through its 1%GP
interest in Mission Hydro Limited Partnership, First Hydro
Holdings Company owns 100% of First Hydro Finance plc, which in
turn owns 100% of First Hydro Limited; and (iii) the wholly
owned subsidiary Mission Energy Holdings International, Inc.
owns 100% of MEC International B.V. which directly owns 99% of
MEC Wales B.V. and through its wholly owned subsidiary MEC
International Holdings B.V. indirectly owns the remaining 1% of
MEC Wales B.V., MEC Wales B.V. owns 69%LP of Mission Hydro
Limited Partnership which owns 99% of First Hydro Holdings
Company, which owns 100% of First Hydro Finance plc, which owns
100% of First Hydro Limited.
(c) First Hydro Finance plc ("First Hydro Finance"), indirect
subsidiary of Edison Mission Energy, purchased all of the
outstanding shares of First Hydro Limited for $1.0 billion plus
$45.7 million as consideration for the working capital of First
Hydro at the date of acquisition. This acquisition was funded
through a combination of (i) a $621.4 million credit facility
with Barclays Bank Plc, (ii) a $350 million capital
contribution from Edison International, and (iii) the remaining
$104.9 came from Edison Mission Energy's working capital.
First Hydro Finance obtained the financing for First Hydro
Holdings Company, a wholly owned indirect subsidiary of Edison
Mission Energy. To support the financing for First Hydro
Finance, Edison Mission Energy issued two letters of credit
from its $400 million corporate revolving credit.
(i) Revenue Support Letter of Credit - This 12 million sterling
pound Letter of Credit was issued in favor of First Hydro
Finance and assigned to Prudential Trustee Company Limited
as security trustee. The Revenue Support Letter of Credit
must be provided during the initial five years of financing
and be issued from the bank in short-term ratings of at
least A-1/P-1. The Revenue Support Letter of Credit may
be used to make up any shortfalls in interest payments
owing and may also be used toward curing any default
arising from interest coverage ratios dropping below 1.05
to 1.0 for applicable reference periods.
<PAGE>
<page 27>
(ii) Debt Service Reserve Letter of Credit - This 16 million
sterling pound Letter of Credit was issued in favor of
First Hydro Finance and issued to Prudential Trustee
Company Limited as security trustee. The Debt Service
Reserve Letter of Credit meets the requirement that the
debt service reserve account contain at least 6 months of
interest under the bank credit facility agreement with
Barclays Bank Plc.
(d) Net income for 1995 = $11,472,141
(e) There are no contracts between First Hydro and any system
company.
4.21 BROOKLYN NAVY YARD COGENERATION PARTNERS, L.P. [EWG]
(a) Brooklyn Navy Yard Cogeneration Partners, L.P. ("BNY")
366 Madison Avenue, Suite 1003, New York, NY 10017
BNY's facilities will consist of a 286MW combined cycle
cogeneration facility utilizing two Siemens V84.2 dual fuel
combustion turbines and one or two automatic extraction steam
turbines to be located within the existing Building 41 at
Brooklyn Navy Yard Industrial Park in Brooklyn, NY.
(b) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which through its
wholly owned subsidiary Mission Energy New York, Inc., owns 50%
of Brooklyn Navy Yard Cogeneration Partners, L.P.
(c) Capital contribution made by Edison Mission Energy through its
subsidiary Mission Energy New York, Inc., was in the amount of
$33,158,043. BNY obtained certain tax exempt bonds to finance
the BNY project ("Financing"). In connection with the
Financing, BNY entered into two reimbursement agreements with
Bank of America NT&SA and certain other lenders for two letters
of credit issued by BofA (i) to secure payment of the bonds
issued in the amount of $253,945,700 plus interest and (ii) to
secure BNY's indemnity to the New York City Industrial
Development Agency in connection with the actions taken by or
on behalf of the NYCIDA with respect to the BNY facility and
the Financing in the amount of $40,000,000 ("Reimbursement
Agreements"). As a condition of the issuance of the letters of
credit, Edison Mission Energy guaranteed the obligations of BNY
pursuant to the Reimbursement Agreements.
(d) Capitalization or total equity = $33,158,043
Net income after taxes for 1995 = $4,586,233
(e) Other than with respect to the Edison Mission Energy guarantee
as listed in Item (c) above, there are no contracts between BNY
and any system company.
4.22 P. T. PAITON ENERGY COMPANY [FUCO]
(a) P. T. Paiton Energy Company ("Paiton")
Mid Plaza 2, 15th Floor, Jl. Jend. Sudirman Kav. 10-11
Jakarta 10220 Indonesia
Paiton's facilities consist of two coal-fired electric
generating units (under development) in Paiton, Indonesia, on
the northeast Java coast. Each unit has a nominal net design
capacity of 605MW and will be comprised of a boiler and steam
turbine generator with ancillary facilities. The two units
will share a control room.
<PAGE>
<page 28>
(b) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Mission Energy Holdings International, Inc., which owns 100% of
MEC International B.V., which directly owns 99% of MEC
Indonesia B.V. and through its wholly owned subsidiary MEC
International Holdings B.V. indirectly owns the remaining 1% of
MEC Indonesia B.V.; MEC Indonesia B.V. owns 32.5% of P. T.
Paiton Energy Company.
(c) Capital contribution made by Edison Mission Energy through MEC
Indonesia B.V. to Paiton was in the amount of $38,335,385.43.
Edison International, Edison Mission Energy, MEC Indonesia
B.V., MEC International B.V., and MEC International Holdings
B.V. have entered into an Equity Support Agreement wherein each
jointly and severally guarantees payment of 38.24% of Paiton's
obligation. The initial value of said obligation was
$374,275,000; current value as of December 31, 1995, is
$335,939,615.
(d) Capitalization or total equity = $38,335,385.43
Paiton is in development stages; anticipated date of operation
is late 1999.
(e) (1) Mission Energy Asia Pte. Ltd., the wholly owned Singapore
corporation of MEC International B.V., has entered into an
Operation and Maintenance Agreement with P. T. Paiton
Energy Company to provide operation and maintenance
services. This Operation and Maintenance Agreement will
be assigned to P.T. Mission Operation & Maintenance
Indonesia, another indirect subsidiary of Edison Mission
Energy.
(2) Mission Energy Construction Services, Inc. ("MECSI"), a
wholly owned subsidiary of Edison Mission Energy, entered
into a Secondment Agreement with Paiton on April 20, 1995
("Agreement"). MECSI is to recruit and second appropriate
personnel to Paiton in connection with the construction of
the Paiton facility. MECSI will receive compensation in
the amount of US$25,000 from Paiton for the provision of
seconded personnel. MECSI executed a letter of
confirmation relating to the Agreement on April 21, 1995,
which states that in the event the salaries, benefits,
wages, taxes and expenses ("Costs") of the seconded
personnel equal an amount less than $6.975 million at the
beginning of the 59th month following the commencement of
construction under the construction contract, Paiton is to
immediately pay the difference to MECSI or its designee in
US dollars. In the event the Costs exceed $6.975 million,
then MECSI shall pay to Paiton the amount of such overage.
(3) MECSI and Paiton entered into an Owner Representative
Agreement on March 31, 1995, wherein MECSI is authorized
to represent Paiton with regard to overseas suppliers and
procurement on the construction of the facility and
interface with the contractor and Perussahan Umum Listrik
Negara, the Indonesian state-owned utility, on technical,
budgeting, and scheduling matters. Under this agreement,
MECSI is to receive compensation in the amount of US$8
million payable in arrears in accordance with a schedule
attached to the Owner Representative Agreement.
<PAGE>
<page 29
4.23 ISAB ENERGY, S.r.l. [FUCO]
(a) ISAB Energy, S.r.l. ("ISAB")
Corso Gelone No. 103, Siracusa, Sicily, Italy
ISAB's facilities will consist of a 512MW integrated
gasification and combined cycle power plant, located in Priolo
Gargallo, 8 km. from Siracusa, Sicily, on approximately 100
hectares of land.
(b) Edison International's wholly owned subsidiary The Mission
Group owns 100% of Edison Mission Energy, which owns 100% of
Mission Energy Holdings International, Inc., which owns 100% of
MEC International B.V., which directly owns 99% of MEC Priolo
B.V. and through its wholly owned subsidiary MEC International
Holdings B.V. indirectly owns the remaining 1% of MEC Priolo
B.V., MEC Priolo B.V. owns 49% of ISAB Energy, S.r.l.
(c) Capital contribution made by Edison Mission Energy through MEC
Priolo B.V. was in the amount of US$12,623,000.
(d) Capitalization or total equity = $0
Net income after taxes for 1995 = $0
ISAB is scheduled to become operational by July 1, 2001.
(e) There are no contracts between ISAB and any system company.
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.
<PAGE>
<page30>
The above-named claimant has caused this statement to be duly
executed on its behalf by its authorized officer on this 28th day of
February, 1996.
EDISON INTERNATIONAL
By Kenneth S. Stewart
-----------------------------
Kenneth S. Stewart
Assistant General Counsel
Corporate Seal
Attest:
Dorothy J. Fulco
- - ----------------------------
Dorothy J. Fulco
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
- - ------------------------------------------------------------------------
(Name) (Title)
2244 Walnut Grove Avenue, Post Office Box 999, Rosemead, CA 91770
- - ------------------------------------------------------------------------
(Address)
<PAGE>
<page 31)
Schedule I
Southern California Edison Company
MAIN SYSTEM Electric Generating Properties
- - -----------
SCE OWNED
- - ------------
<TABLE>
<CAPTION>
Generator Name
Location Unit Date of Plate Rating
Name of Plant County No. Operation kW
- - ------------- -------- ---- --------- -----------
OIL & GAS:
- - ----------
<S> <C> <C> <C> <C>
Alamitos Los Angeles 1 Sep. 11, 1956 163,200
2 Feb. 19, 1957 163,200
3 Dec. 4, 1961 333,000
4 Jun. 1, 1962 333,000
5 Mar. 5, 1966 495,000
6 Sep. 6, 1966 495,000
7CT Jul. 1, 1969 138,125
-----------
TOTAL PLANT 2,120,525
Cool Water San Bernardino 1 Jun. 15, 1961 65,280
2 May 1, 1964 81,600
3CC May 31, 1978 290,000
4CC Aug. 31, 1978 290,000
----------
TOTAL PLANT 726,880
Ellwood Santa Barbara 1CT Aug. 1, 1974 56,700
El Segundo Los Angeles 1 May 25, 1955 156,250
2 Aug. 27, 1956 156,250
3 Aug. 1, 1964 342,000
4 Apr. 1, 1965 342,000
----------
TOTAL PLANT 996,500
Etiwanda San Bernardino 1 Jul. 9, 1953 122,500
2 Nov. 23, 1953 122,500
3 May 1, 1963 333,000
4 Oct. 18, 1963 333,000
5CT Jan. 1, 1969 138,125
----------
TOTAL PLANT 1,049,125
Highgrove San Bernardino 1 Aug. 1, 1952 34,500
2 Jul. 1, 1952 34,500
3 Nov. 20, 1953 50,000
4 Oct. 23, 1955 50,000
----------
TOTAL PLANT 169,000
Huntington Beach Orange 1 Jun. 30, 1958 217,600
2 Dec. 5, 1958 217,600
3 May 22, 1961 217,600
4 Jul. 9, 1961 217,600
5CT Apr. 1, 1969 138,125
----------
TOTAL PLANT 1,008,525
</TABLE>
<PAGE>
<page 32>
<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 SCE - 48% 392,688
5 Jul. 1, 1970 818,100
Owned by Others - 52% (425,412)
----------
Owned by SCE - 48% 392,688
==========
TOTAL SCE 785,376
Mohave Clark, NV 1 Apr. 1, 1971 818,100
Owned by Others - 44% (359,964)
----------
Owned by SCE - 56% 458,136
2 Oct. 1, 1971 818,100
Owned by Others - 44% (359,964)
----------
Owned by SCE - 56% 458,136
==========
TOTAL SCE 916,272
==========
TOTAL COAL: 1,701,648
----------
</TABLE>
<PAGE>
<page 33>
<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 SCE - 80% 0
2 Aug. 8, 1983 1,127,000
Owned by Others - 24.95% (281,185)
----------
Owned by SCE - 75.05% 845,815
3 Apr. 1, 1984 1,127,000
Owned by Others - 24.95% (281,185)
----------
Owned by SCE - 75.05% 845,815
==========
TOTAL SCE 1,691,630
Palo Verde Maricopa, AZ 1 Feb. 1, 1986 1,403,100
Owned by Others - 84.2% (1,181,410)
----------
Owned by SCE - 15.8% 221,690
2 Sep. 19, 1986 1,403,100
Owned by Others - 84.2% (1,181,410)
----------
Owned by SCE - 15.8% 221,690
3 Jan. 20, 1988 1,403,100
Owned by Others - 84.2% (1,181,410)
----------
Owned by SCE - 15.8% 221,690
==========
TOTAL SCE 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>
<page 34>
<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 10,800
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 1,023,070
----------------------------------
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 19,670
----------
TOTAL PLANT 40,170
Kern River-Borel Kern 1 Dec. 31, 1904 3,000
2 Dec. 31, 1904 3,000
3 Jan. 23, 1932 6,000
----------
TOTAL PLANT 12,000
</TABLE>
<PAGE>
<page 35>
<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>
<page 36>
<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 146,265
-----------------------------------------
TOTAL HYDROELECTRIC PLANTS 1,169,335
- - -------------------------- ==========
OTHER:
- - ------
SYN FUEL,IGCC - DEMO:
---------------------
Cool Water Coal San Bernardino 1 Jun. 24, 1984 100,000
BATTERY STORAGE:
----------------
Chino Battery StorageChino 1 Jan. 3, 1991 10,000
----------
TOTAL OTHER: 110,000
- - ------------
TOTAL SCE OWNED RESOURCES (MAIN SYSTEM): 15,946,778
========================================== ==========
</TABLE>
<PAGE>
<page 37>
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
12 Jun. 18, 1976 1,550
14 Oct. 24, 1986 1,400
15 Dec. 31, 1995 2,800
----------
9,375
Catalina Hydro Los Angeles 1 May 5, 1983 30
(Catalina) 2 Jul. 24, 1985 22
3 Jul. 24, 1985 57
----------
109
==========
TOTAL SCE OWNED RESOURCES: 9,484
- - -----------------------------
TOTAL ISOLATED SYSTEMS RESOURCES: 9,484
================================ ==========
</TABLE>
<PAGE>
<page 38>
Attached hereto as Exhibit A are the following financial statements
dated as of December 31, 1995, or for the year then ended:
A.1. Edison International and Subsidiaries Consolidating Balance Sheet.
A.2. Edison International and Subsidiaries Consolidating Statements of
Income and Retained Earnings.
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. Nonutility Subsidiaries Consolidating Balance Sheet.
A.7. Nonutility Subsidiaries Consolidating Statements of Income and
Retained Earnings.
A.8. Edison Capital and Subsidiaries Consolidating Balance Sheet.
A.9. Edison Capital and Subsidiaries Consolidating Statements of Income
and Retained Earnings.
A.10. Edison Capital and Subsidiaries Equity Investments in Real Estate
Limited Partnerships.
A.11. Edison Funding Company and Subsidiaries Consolidating Balance
Sheet.
A.12. Edison Funding Company and Subsidiaries Consolidating Statements
of Income and Retained Earnings.
A.13. Mission Funding Epsilon and Subsidiaries Consolidating Balance
Sheet.
A.14. Mission Funding Epsilon and Subsidiaries Consolidating Statements
of Income and Retained Earnings.
A.15. Edison Housing Investments and Subsidiaries Consolidating Balance
Sheet.
A.16. Edison Housing Investments and Subsidiaries Consolidating
Statements of Income and Retained Earnings.
A.17. Mission Land Company and Subsidiaries Consolidating Balance Sheet.
A.18. Mission Land Company and Subsidiaries Consolidating Statements of
Income and Retained Earnings.
A.19. Mission Land Company and Subsidiaries Equity Investments.
A.20. Mission Power Engineering Company and Subsidiaries Consolidating
Balance Sheet.
A.21. Mission Power Engineering Company and Subsidiaries Consolidating
Statements of Income and Retained Earnings.
A.22. Edison Mission Energy and Subsidiaries Consolidating Balance Sheet.
A.23. Edison Mission Energy and Subsidiaries Consolidating Statements
of Income and Retained Earnings.
A.24. Edison Mission Energy and Subsidiaries Equity Investments.
A.25. Hanover Energy Company Consolidating Balance Sheet.
A.26. Hanover Energy Company Consolidating Statements of Income and
Retained Earnings.
A.27. MEC International B.V. Consolidating Balance Sheet.
A.28. MEC International B.V. Consolidating Statements of Income and
Retained Earnings.
A.29. MEC International B.V., Asia Power Development Company
Consolidating Balance Sheet.
A.30. MEC International B.V. Asia Power Development Company Consolidating
Statements of Income and Retained Earnings.
A.31. MEC International B.V., Latrobe Power Pty. Ltd. Consolidating
Balance Sheet.
A.32. MEC International B.V., Latrobe Power Pty. Ltd. Consolidating
Statements of Income and Retained Earnings.
A.33. MEC International B.V., Loy Yang Holdings Pty. Ltd. Consolidating
Balance Sheet.
A.34. MEC International B.V., Loy Yang Holdings Pty. Ltd. Consolidating
Statements of Income and Retained Earnings.
A.35. MEC International B.V., Loy Yang Holdings Pty. Ltd., Latrobe Power
Pty. Ltd. Consolidating Balance Sheet.
A.36. MEC International B.V., Loy Yang Holdings Pty. Ltd., Latrobe Power
Pty. Ltd. Consolidating Statements of Income and Retained Earnings.
<PAGE>
<page 39>
A.37. MEC International B.V., Loy Yang Holdings Pty. Ltd., Edison Mission
Energy Australia Ltd. Consolidating Balance Sheet.
A.38. MEC International B.V., Loy Yang Holdings Pty. Ltd., Edison Mission
Energy Australia Ltd. Consolidating Statements of Income and
Retained Earnings.
A.39. MEC International B.V., Loy Yang Holdings Pty. Ltd., Mission Energy
Ventures Australia Pty. Ltd. Consolidating Balance Sheet.
A.40. MEC International B.V., Loy Yang Holdings Pty. Ltd., Mission Energy
Ventures Australia Pty. Ltd. Consolidating Statements of Income and
Retained Earnings.
A.41. MEC International B.V., Traralgon Power Pty. Ltd. Consolidating
Balance Sheet.
A.42. MEC International B.V., Traralgon Power Pty. Ltd. Consolidating
Statements of Income and Retained Earnings.
A.43. MEC International Holdings B.V. Consolidating Balance Sheet.
A.44. MEC International Holdings B.V. Consolidating Statements of Income
and Retained Earnings.
A.45. MEC International B.V., MEC International Holdings B.V.
Consolidating Balance Sheet.
A.46. MEC International B.V., MEC International Holdings B.V.
Consolidating Statements of Income and Retained Earnings.
A.47. MEC International B.V., Mission Energy Company (U.K.) Limited
Consolidating Balance Sheet.
A.48. MEC International B.V., Mission Energy Company (U.K.) Limited
Consolidating Statements of Income and Retained Earnings.
A.49. MEC International B.V., Mission Energy Company (U.K.) Limited,
Pride Hold Ltd. Consolidating Balance Sheet.
A.50. MEC International B.V., Mission Energy Company (U.K.) Limited,
Pride Hold Ltd. Consolidating Statements of Income and Retained
Earnings.
A.51. MEC International B.V., Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet.
A.52. MEC International B.V., Mission Energy Holdings Pty. Ltd.
Consolidating Statements of Income and Retained Earnings.
A.53. MEC International B.V., Pride Hold Ltd. Consolidating Balance
Sheet.
A.54. MEC International B.V., Pride Hold Ltd. Consolidating Statements
of Income and Retained Earnings.
A.55. MEC International B.V. Equity Investments.
A.56. MEC International B.V., Mission Hydro (UK) Limited Consolidating
Balance Sheet.
A.57. MEC International B.V., Mission Hydro (UK) Limited Consolidating
Statements of Income and Retained Earnings.
PAGE
<PAGE>
Edison International and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern
California Nonutility
Edison Co. Subsidiaries Edison
Consolidated Consolidated International
============================================================================================================
ASSETS
============================================================================================================
<S> <C> <C> <C>
Utility plant, at original cost $19,850,179
Less-accumulated provision for depreciation
and decommissioning 8,569,265
------------------------------------------------------
11,280,914
Construction work in progress 727,865
Nuclear fuel, at amortized cost 139,411
------------------------------------------------------
Total utility plant 12,148,190
------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation 70,191 $3,070,138 $56
Nuclear decommissioning trusts 1,260,095
Investments in partnerships
and unconsolidated subsidiaries 1,190,294 6,630,537
Investments in leveraged leases 574,091
Other investments 65,963
------------------------------------------------------
Total other property and investments 1,396,249 4,834,523 6,630,593
------------------------------------------------------
Cash and equivalents 261,767 215,344 30,040
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 911,963 155,739 136,978
Fuel inventory 114,357
Materials and supplies, at average cost 151,180
Accumulated deferred income taxes - net 476,725
Prepayments and other current assets 114,289 11,772 123
------------------------------------------------------
Total current assets 2,030,281 382,855 167,141
------------------------------------------------------
Unamortized debt issuance and
reacquisition expense 350,563
Rate phase-in plan 129,714
Unamortized nuclear plant--net 67,185
Income tax-related deferred charges 1,723,605
Other deferred charges 309,328 556,271 25,000
------------------------------------------------------
Total deferred charges 2,580,395 556,271 25,000
------------------------------------------------------
TOTAL ASSETS $18,155,115 $5,773,649 $6,822,734
======================================================
</TABLE>
<PAGE 41>
<PAGE>
Edison International and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Consolidating International
Adjustments Consolidated
============================================================================================================
ASSETS
============================================================================================================
<S> <C> <C>
Utility plant, at original cost $19,850,179
Less-accumulated provision for depreciation
and decommissioning 8,569,265
------------------------------------------------------
11,280,914
Construction work in progress 727,865
Nuclear fuel, at amortized cost 139,411
------------------------------------------------------
Total utility plant 12,148,190
------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation 3,140,385
Nuclear decommissioning trusts 1,260,095
Investments in partnerships
and unconsolidated subsidiaries $(6,630,537) 1,190,294
Investments in leveraged leases 574,091
Other investments 65,963
------------------------------------------------------
Total other property and investments (6,630,537) 6,230,828
------------------------------------------------------
Cash and equivalents 507,151
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (149,726) 1,054,954
Fuel inventory 114,357
Materials and supplies, at average cost 151,180
Accumulated deferred income taxes - net 476,725
Prepayments and other current assets 126,184
------------------------------------------------------
Total current assets (149,726) 2,430,551
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense 350,563
Rate phase-in plan 129,714
Unamortized nuclear plant--net 67,185
Income tax-related deferred charges 1,723,605
Other deferred charges (25,000) 865,599
------------------------------------------------------
Total deferred charges (25,000) 3,136,666
------------------------------------------------------
TOTAL ASSETS $(6,805,263) $23,946,235
======================================================
</TABLE>
<PAGE 42>
<PAGE>
Edison International and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern
California Nonutility
Edison Co. Subsidiaries Edison
Consolidated Consolidated International
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $2,345,387 $969,578 $2,660,096
Retained earnings 2,780,058 535,514 3,699,572
------------------------------------------------------
5,125,445 1,505,092 6,359,668
Preferred securities of subsidiaries:
Not subject to mandatory redemption 283,755
Subject to mandatory redemption 275,000 150,000
Long-term debt 5,215,117 1,980,080
------------------------------------------------------
Total capitalization 10,899,317 3,635,172 6,359,668
------------------------------------------------------
Other long-term liabilities 344,192
------------------------------------------------------
Current portion of long-term debt 1,375 38,953
Short-term debt 359,508 350,000
Accounts payable 346,258 80,676 6,412
Accrued taxes 550,384 11,735 (5,024)
Accrued interest 86,494 14,269 607
Dividends payable 138,334 110,902
Regulatory balancing accounts--net 337,867
Deferred unbilled revenue and other 809,826 195,915 (862)
------------------------------------------------------
Total current liabilities 2,630,046 341,548 462,035
------------------------------------------------------
Accumulated deferred income taxes - net 3,310,322 1,029,887 (950)
Accumulated deferred investment tax credits 374,142 30,970
Customer advances and other deferred credits 597,096 106,133 1,981
------------------------------------------------------
Total deferred credits 4,281,560 1,166,990 1,031
------------------------------------------------------
Minority interest 629,939
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $18,155,115 $5,773,649 $6,822,734
======================================================
</TABLE>
<PAGE 43>
<PAGE>
Edison International and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Consolidating International
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $(3,314,965) $2,660,096
Retained earnings (3,315,572) 3,699,572
------------------------------------------------------
(6,630,537) 6,359,668
Preferred securities of subsidiaries:
Not subject to mandatory redemption 283,755
Subject to mandatory redemption 425,000
Long-term debt 7,195,197
------------------------------------------------------
Total capitalization (6,630,537) 14,263,620
------------------------------------------------------
Other long-term liabilities 344,192
------------------------------------------------------
Current portion of long-term deb 40,328
Short-term debt 709,508
Accounts payable (13,824) 419,522
Accrued taxes 557,095
Accrued interest 101,370
Dividends payable (135,902) 113,334
Regulatory balancing accounts--net 337,867
Deferred unbilled revenue and other 1,004,879
------------------------------------------------------
Total current liabilities (149,726) 3,283,903
------------------------------------------------------
Accumulated deferred income taxes - net 4,339,259
Accumulated deferred investment tax credits 405,112
Customer advances and other deferred credits (25,000) 680,210
------------------------------------------------------
Total deferred credits (25,000) 5,424,581
------------------------------------------------------
Minority interest 629,939
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $(6,805,263) $23,946,235
======================================================
</TABLE>
<PAGE 44>
<PAGE>
Edison International and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern
California Nonutility
Edison Co. Subsidiaries Edison
Consolidated Consolidated International
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $7,872,718
Diversified operations $532,144 $18,262
------------------------------------------------------
Total operating revenue 7,872,718 532,144 18,262
------------------------------------------------------
Fuel 614,954 79,162
Purchased power 2,581,878
Provisions for regulatory adjustment
clauses - net 229,744
Other operating expenses 1,226,534 172,539 30,897
Maintenance 356,693 1,857
Depreciation and decommissioning 954,141 60,117 3
Income taxes 559,694 (26,665) (5,229)
Property and other taxes 200,236 9,621
------------------------------------------------------
Total operating expenses 6,723,874 296,631 25,671
------------------------------------------------------
Operating income 1,148,844 235,513 (7,409)
------------------------------------------------------
Provision for rate phase-in plan (122,233)
Allowance for equity funds used during
construction 19,082
Interest income 37,644 26,062 1,120
Minority interest (47,697)
Other nonoperating income - net 45,651 (4,459) 26
------------------------------------------------------
Total other income (deductions) - net (19,856) (26,094) 1,146
------------------------------------------------------
Income before interest and other expense 1,128,988 209,419 (6,263)
------------------------------------------------------
Interest on long-term debt 385,187 154,155
Other interest expense 80,130 (19) 1,070
Allowance for borrowed funds used during
construction (14,489)
Capitalized interest (1,531) (58,354)
Dividends on subsidiary preferred
securities 36,764 10,095
------------------------------------------------------
Total interest and other expenses - net 486,061 105,877 1,070
------------------------------------------------------
NET INCOME 642,927 103,542 (7,333)
Retained earnings - beginning of year 2,683,568 448,972 319,302
Dividends declared on common stock (546,437) (17,000) 117,765
Stock repurchase and retirement (45,734)
------------------------------------------------------
Retained earnings - end of year $2,780,058 $535,514 $384,000
======================================================
</TABLE>
<PAGE 45>
<PAGE>
Edison International and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Consolidating International
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue $(188) $7,872,530
Diversified operations (18,262) 533,144
------------------------------------------------------
Total operating revenue (18,450) 8,404,674
------------------------------------------------------
Fuel 694,116
Purchased power 2,581,878
Provisions for regulatory adjustment
clauses - net 229,744
Other operating expenses (18,450) 1,411,520
Maintenance 358,550
Depreciation and decommissioning 1,014,261
Income taxes 527,800
Property and other taxes 209,857
------------------------------------------------------
Total operating expenses (18,450) 7,027,726
------------------------------------------------------
Operating income 1,376,948
------------------------------------------------------
Provision for rate phase-in plan (122,233)
Allowance for equity funds used during
construction 19,082
Interest income 64,826
Minority interest (47,697)
Other nonoperating income - net 41,218
------------------------------------------------------
Total other income (deductions) - net (44,804)
------------------------------------------------------
Income before interest and other expense 1,332,144
------------------------------------------------------
Interest on long-term debt 539,342
Other interest expense 81,181
Allowance for borrowed funds used during
construction (14,489)
Capitalized interest (59,885)
Dividends on subsidiary preferred
securities 46,859
------------------------------------------------------
Total interest and other expenses - net 593,008
------------------------------------------------------
NET INCOME 739,136
Retained earnings - beginning of year 3,451,842
Dividends declared on common stock (445,672)
Stock repurchase and retirement (45,734)
------------------------------------------------------
Retained earnings - end of year $3,699,572
======================================================
</TABLE>
<PAGE 46>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
California
Electric Conservation Energy
Power Financing Services
Company Corporation Inc.
============================================================================================================
ASSETS (Inactive) (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 $26
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 26
------------------------------------------------------
Cash and equivalents 977
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1,755
Fuel inventory
Materials and supplies, at average cost 86
Accumulated deferred income taxes - net
Prepayments and other current assets 325
------------------------------------------------------
Total current assets 3,143
------------------------------------------------------
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 $3,169
======================================================
</TABLE>
<PAGE 47>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
SCE Southern
Mono Power Capital States
Company Company Realty
============================================================================================================
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 $818 $69
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 818 69
------------------------------------------------------
Cash and equivalents 160 $66 1,260
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (104) 200,001 148
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net 38
Prepayments and other current assets 2,554
------------------------------------------------------
Total current assets 56 200,067 4,000
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense 474
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-realted deferred charges 398
Other deferred charges (6,253) 42
------------------------------------------------------
Total deferred charges (5,779) 440
------------------------------------------------------
TOTAL ASSETS $874 $194,288 $4,509
======================================================
</TABLE>
<PAGE 48>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern
Southern California
California Consolidating Edison Co.
Edison Co. Adjustments Consolidated
============================================================================================================
ASSETS
============================================================================================================
<S> <C> <C> <C>
Utility plant, at original cost $19,850,179 $19,850,179
Less-accumulated provision for depreciation
and decommissioning (8,569,265) (8,569,265)
------------------------------------------------------
11,280,914 11,280,914
Construction work in progress 727,865 727,865
Nuclear fuel, at amortized cost 139,411 139,411
------------------------------------------------------
Total utility plant 12,148,190 12,148,190
------------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation 69,278 70,191
Nuclear decommissioning trusts 1,260,095 1,260,095
Investments in partnerships
and unconsolidated subsidiaries 3,380 $(3,380)
Investments in leveraged leases
Other investments 65,963 65,963
------------------------------------------------------
Total other property and investments 1,398,716 (3,380) 1,396,249
------------------------------------------------------
Cash and equivalents 259,304 261,767
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 913,099 (202,936) 911,963
Fuel inventory 114,357 114,357
Materials and supplies, at average cost 151,094 151,180
Accumulated deferred income taxes - net 476,687 476,725
Prepayments and other current assets 111,410 114,289
------------------------------------------------------
Total current assets 2,025,951 (202,936) 2,030,281
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense 350,563 (474) 350,563
Rate phase-in plan 129,714 129,714
Unamortized nuclear plant--net 67,185 67,185
Income tax-realted deferred charges 1,723,207 1,723,605
Other deferred charges 309,286 6,253 309,328
------------------------------------------------------
Total deferred charges 2,579,955 5,779 2,580,395
------------------------------------------------------
TOTAL ASSETS $18,152,812 $(200,537) $18,155,115
======================================================
</TABLE>
<PAGE 49>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
California
Electric Conservation Energy
Power Financing Services
Company Corporation Inc.
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $100
Retained earnings 1,561
------------------------------------------------------
1,661
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 1,661
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 1,392
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 1,392
------------------------------------------------------
Accumulated deferred income taxes - net 116
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 116
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $3,169
======================================================
</TABLE>
<PAGE 50>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
SCE Southern
Mono Power Capital States
Company Company Realty
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $2,749 $120 $3,008
Retained earnings (2,694) (2,179) 715
------------------------------------------------------
55 (2,059) 3,723
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 194,221
------------------------------------------------------
Total capitalization 55 192,162 3,723
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 1,511 396
Accrued taxes
Accrued interest 615
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2,126 396
------------------------------------------------------
Accumulated deferred income taxes - net 390
Accumulated deferred investment tax credits
Customer advances and other deferred credits 819
------------------------------------------------------
Total deferred credits 819 390
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $874 $194,288 $4,509
======================================================
</TABLE>
<PAGE 51>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern
Southern California
California Consulating Edison Co.
Edison Co. Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $2,345,387 $(5,977) $2,345,387
Retained earnings 2,780,058 2,597 2,780,058
------------------------------------------------------
5,125,445 (3,380) 5,125,445
Preferred securities of subsidiaries:
Not subject to mandatory redemption 283,755 283,755
Subject to mandatory redemption 275,000 275,000
Long-term debt 5,215,117 (194,221) 5,215,117
------------------------------------------------------
Total capitalization 10,899,317 (197,601) 10,899,317
------------------------------------------------------
Other long-term liabilities 344,192 344,192
------------------------------------------------------
Current portion of long-term debt 1,375 1,375
Short-term debt 359,508 359,508
Accounts payable 345,895 (2,936) 346,258
Accrued taxes 550,384 550,384
Accrued interest 85,879 86,494
Dividends payable 138,334 138,334
Regulatory balancing accounts--net 337,867 337,867
Deferred unbilled revenue and other 809,826 809,826
------------------------------------------------------
Total current liabilities 2,629,068 (2,936) 2,630,046
------------------------------------------------------
Accumulated deferred income taxes - net 3,309,816 3,310,322
Accumulated deferred investment tax credits 374,142 374,142
Customer advances and other deferred credits 596,277 597,096
------------------------------------------------------
Total deferred credits 4,280,235 4,281,560
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $18,152,812 $(200,537) $18,155,115
======================================================
</TABLE>
<PAGE 52>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
California
Electric Conservation Energy
Power Financing Services
Company Corporation Inc.
============================================================================================================
<S> <C> <C> <C>
(Inactive) (Inactive)
Electric utility revenue $7,934
Diversified operations
------------------------------------------------------
Total operating revenue 7,934
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 7,686
Maintenance
Depreciation and decommissioning
Income taxes 109
Property and other taxes
------------------------------------------------------
Total operating expenses 7,795
------------------------------------------------------
Operating income 139
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 46
Minority interest
Other - net
------------------------------------------------------
Total other income (deductions) - net 46
------------------------------------------------------
Income before interest and other expenses 185
------------------------------------------------------
Interest on long-term debt
Other interest expense 68
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on preferred securities
------------------------------------------------------
Total interest and other expenses - net 68
------------------------------------------------------
NET INCOME 117
Retained earnings - beginning of year 1,444
Dividends declared on stock
------------------------------------------------------
Retained earnings - end of year $1,561
======================================================
</TABLE>
<PAGE 53>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Statement of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
SCE Southern
Mono Power Capital States
Company Company Realty
============================================================================================================
<S> <C> <C> <C>
(Inactive)
Electric utility revenue $24 $3,357
Diversified operations
------------------------------------------------------
Total operating revenue 24 3,357
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 24 $10 2,149
Maintenance
Depreciation and decommissioning
Income taxes (3) 489
Property and other taxes
------------------------------------------------------
Total operating expenses 24 7 2,638
------------------------------------------------------
Operating income (7) 719
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 15,537
Minority interest
Other - net (5)
------------------------------------------------------
Total other income (deductions) - net 15,537 (5)
------------------------------------------------------
Income before interest and other expenses 15,530 714
------------------------------------------------------
Interest on long-term debt 14,749
Other interest expense 787
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on preferred securities
------------------------------------------------------
Total interest and other expenses - net 15,536
------------------------------------------------------
NET INCOME (6) 714
Retained earnings - beginning of year (2,694) (2,173) (1)
Dividends declared on stock
------------------------------------------------------
Retained earnings - end of year $(2,694) $(2,179) $713
======================================================
</TABLE>
<PAGE 54>
<PAGE>
Southern California Edison Co. and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern
Southern California
California Consolidating Edison Co.
Edison Co. Adjustments Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $7,863,573 $(2,170) $7,872,718
Diversified operations
------------------------------------------------------
Total operating revenue 7,863,573 (2,170) 7,872,718
------------------------------------------------------
Fuel 614,976 (22) 614,954
Purchased power 2,581,878 2,581,878
Provisions for regulatory adjustment
clauses - net 229,744 229,744
Other operating expenses 1,218,811 (2,146) 1,226,534
Maintenance 356,693 356,693
Depreciation and decommissioning 954,141 954,141
Income taxes 559,099 559,694
Property and other taxes 200,236 200,236
------------------------------------------------------
Total operating expenses 6,715,578 (2,168) 6,723,874
------------------------------------------------------
Operating income 1,147,995 (2) 1,148,844
------------------------------------------------------
Provision for rate phase-in plan (122,233) (122,233)
Allowance for equity funds used during
construction 19,082 19,082
Interest income 37,665 (15,604) 37,644
Minority interest
Other - net 45,656 45,651
------------------------------------------------------
Total other income (deductions) - net (19,830) (15,604) (19,856)
------------------------------------------------------
Income before interest and other expenses 1,128,165 (15,606) 1,128,988
------------------------------------------------------
Interest on long-term debt 385,187 (14,749) 385,187
Other interest expense 80,130 (855) 80,130
Allowance for borrowed funds used during
construction (14,489) (14,489)
Capitalized interest (1,531) (1,531)
Dividends on preferred securities 36,764 36,764
------------------------------------------------------
Total interest and other expenses - net 486,061 (15,604) 486,061
------------------------------------------------------
NET INCOME 642,104 (2) 642,927
Retained earnings - beginning of year 2,683,568 3,424 2,683,568
Dividends declared on stock (546,437) (546,437)
------------------------------------------------------
Retained earnings - end of year $2,779,235 $3,422 $2,780,058
======================================================
</TABLE>
<PAGE 55>
<PAGE>
Southern California Edison Company and Subsidiaries
Equity Investments
December 31, 1995
<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 56>
<PAGE>
Nonutility Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Mission Mission Power
Energy Land Company Engineering
Consolidated Consolidated Company
============================================================================================================
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 $2,749,380 $283,272 $750
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 880,840
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 3,630,220 283,272 750
------------------------------------------------------
Cash and equivalents 137,540 5,843
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 101,663 21,209
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 10,941 171
------------------------------------------------------
Total current assets 250,144 27,223
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 493,672 27,790 473
-------------------------------------------------------
Total deferred charges 493,672 27,790 473
-------------------------------------------------------
TOTAL ASSETS $4,374,036 $338,285 $1,223
=======================================================
</TABLE>
<PAGE 57>
<PAGE>
Nonutility Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Capital The Mission Consolidating
Consolidated Group Adjustments
============================================================================================================
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 $36,736
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 311,921 ($2,467)
Investments in leveraged leases 574,091
Other investments $1,487,024 (1,487,024)
------------------------------------------------------
Total other property and investments 922,748 1,487,024 (1,489,491)
------------------------------------------------------
Cash and equivalents 71,392 569
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 33,049 10,842 (11,024)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 660
------------------------------------------------------
Total current assets 105,101 11,411 (11,024)
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 34,931 10,122 (10,717)
-------------------------------------------------------
Total deferred charges 34,931 10,122 (10,717)
-------------------------------------------------------
TOTAL ASSETS $1,062,780 $1,508,557 ($1,511,232)
=======================================================
</TABLE>
<PAGE 58>
<PAGE>
Nonutility and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Nonutility
Subsidiaries
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 $3,070,138
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,190,294
Investments in leveraged leases 574,091
Other investments
------------------------------------------------------
Total other property and investments 4,834,523
------------------------------------------------------
Cash and equivalents 215,344
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 155,739
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 11,772
------------------------------------------------------
Total current assets 382,855
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 556,271
-------------------------------------------------------
Total deferred charges 556,271
-------------------------------------------------------
TOTAL ASSETS $5,773,649
=======================================================
</TABLE>
<PAGE 59>
<PAGE>
Nonutility Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Mission Mission Power
Energy Land Company Engineering
Consolidated Consolidated Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $64,130 $3,000
Additional Paid in Capital 629,289 $202,408
Retained earnings 320,529 59,130 (12,473)
------------------------------------------------------
1,013,948 261,538 (9,473)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership 150,000
Long-term debt 1,839,003 32,158
------------------------------------------------------
Total capitalization 3,002,951 293,696 (9,473)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 37,009 1,944
Short-term debt
Accounts payable 84,138 854 679
Accrued taxes 11,288 447
Accrued interest 13,641 221
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 53,697 804
------------------------------------------------------
Total current liabilities 199,773 4,270 679
------------------------------------------------------
Accumulated deferred income taxes - net 471,640 9,611
Accumulated deferred investment tax credits 30,970
Customer advances and other deferred credits 38,548 30,708 10,017
------------------------------------------------------
Total deferred credits 541,158 40,319 10,017
------------------------------------------------------
Minority interest 630,154
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $4,374,036 $338,285 $1,223
======================================================
</TABLE>
<PAGE 60>
<PAGE>
Nonutility Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Capital The Mission Consolidating
Consolidated Group Adjustments
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $147,866 ($67,130)
Additional Paid in Capital $80,597 821,712 (912,294)
Retained earnings 140,414 536,820 (508,906)
------------------------------------------------------
221,011 1,506,398 (1,488,330)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt 108,919
------------------------------------------------------
Total capitalization 329,930 1,506,398 (1,488,330)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 5,021 422 (10,438)
Accrued taxes
Accrued interest 407
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 139,677 1,737
------------------------------------------------------
Total current liabilities 145,105 2,159 (10,438)
------------------------------------------------------
Accumulated deferred income taxes - net 550,419 (1,783)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 37,541 (10,681)
------------------------------------------------------
Total deferred credits 587,960 (12,464)
------------------------------------------------------
Minority interest (215)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,062,780 $1,508,557 ($1,511,232)
======================================================
</TABLE>
<PAGE 61>
<PAGE>
Nonutiliity Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Nonutility
Subsidiaries
Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C>
Common shareholders' equity:
Common stock $147,866
Additional Paid in Capital 821,712
Retained earnings 535,514
------------------------------------------------------
1,505,092
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership 150,000
Long-term debt 1,980,080
------------------------------------------------------
Total capitalization 3,635,172
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock 38,953
Short-term debt
Accounts payable 80,676
Accrued taxes 11,735
Accrued interest 14,269
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 195,915
------------------------------------------------------
Total current liabilities 341,548
------------------------------------------------------
Accumulated deferred income taxes - net 1,029,887
Accumulated deferred investment tax credits 30,970
Customer advances and other deferred credits 106,133
------------------------------------------------------
Total deferred credits 1,166,990
------------------------------------------------------
Minority interest 629,939
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $5,773,649
======================================================
</TABLE>
<PAGE 62>
<PAGE>
Nonutility Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Mission Mission Power
Energy Land Company Engineering
Consolidated Consolidated Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $297,200
Diversified operations 170,146 $39,007
------------------------------------------------------
Total operating revenue 467,346 39,007
------------------------------------------------------
Fuel 79,162
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 135,403 23,817 $584
Maintenance 1,857
Depreciation and decommissioning 45,589 4,066
Income taxes 17,984 923 (240)
Property and other taxes 3,874 5,747
------------------------------------------------------
Total operating expenses 282,012 36,410 344
------------------------------------------------------
Operating income 185,334 2,597 (344)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 23,299 1,337 1,196
Minority interest (48,343) 12
Taxes on nonoperating income (13,016) (580) (143)
Other nonoperating income - net 9,879 252 (848)
------------------------------------------------------
Total other income (deductions) - net (28,181) 1,021 205
------------------------------------------------------
Income before interest and other expenses 157,153 3,618 (139)
------------------------------------------------------
Interest on long-term debt 141,404 3,355
Other interest expense (19)
Allowance for borrowed funds used during
construction
Capitalized interest (58,354)
Dividends on subsidiary preferred
securities 10,095
------------------------------------------------------
Total interest and other expenses - net 93,145 3,336
------------------------------------------------------
NET INCOME $64,008 $282 ($139)
Retained Earnings - beginning of year 256,521 58,848 (12,334)
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year $320,529 $59,130 ($12,473)
======================================================
</TABLE>
<PAGE 63>
<PAGE>
Nonutility Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Capital The Mission Consolidating
Consolidated Group Adjustments
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $25,577 $214
------------------------------------------------------
Total operating revenue 25,577 214
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 12,418 $317
Maintenance
Depreciation and decommissioning 10,462
Income taxes (45,295) (126) 89
Property and other taxes
------------------------------------------------------
Total operating expenses (22,415) 191 89
------------------------------------------------------
Operating income 47,992 (191) 125
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 223 7
Minority interest 634
Taxes on nonoperating income (3)
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 857 4
------------------------------------------------------
Income before interest and other expenses 48,849 (187) 125
------------------------------------------------------
Interest on long-term debt 9,396
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 9,396
------------------------------------------------------
NET INCOME $39,453 ($187) $125
Retained Earnings - beginning of year 117,961 450,403 (422,427)
Dividends declared on common stock (17,000) 86,604 (86,604)
-----------------------------------------------------
Retained Earnings - end of year $140,414 $536,820 ($508,906)
======================================================
</TABLE>
<PAGE 64>
<PAGE>
Nonutility Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Nonutility
Subsidiaries
Consolidated
============================================================================================================
<S> <C>
Electric utility revenue 297,200
Diversified operations 234,944
------------------------------------------------------
Total operating revenue 532,144
------------------------------------------------------
Fuel 79,162
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 172,539
Maintenance 1,857
Depreciation and decommissioning 60,117
Income taxes (26,665)
Property and other taxes 9,621
------------------------------------------------------
Total operating expenses 296,631
------------------------------------------------------
Operating income 235,513
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 26,062
Minority interest (47,697)
Taxes on nonoperating income (13,742)
Other nonoperating income - net 9,283
------------------------------------------------------
Total other income (deductions) - net (26,094)
------------------------------------------------------
Income before interest and other expenses 209,419
------------------------------------------------------
Interest on long-term debt 154,155
Other interest expense (19)
Allowance for borrowed funds used during
construction
Capitalized interest (58,354)
Dividends on subsidiary preferred
securities 10,095
------------------------------------------------------
Total interest and other expenses - net 105,877
------------------------------------------------------
NET INCOME $103,542
Retained Earnings - beginning of year 448,972
Dividends declared on common stock (17,000)
-----------------------------------------------------
Retained Earnings - end of year $535,514
=====================================================
</TABLE>
<PAGE 65>
PAGE
<PAGE>
Edison Capital and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Renewable
Funding Energy
Burlington Company Capital
Apts., Inc. Consolidated Company
============================================================================================================
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 $29,862
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $312,723
Investments in leveraged leases 574,090
Other investments
------------------------------------------------------
Total other property and investments 29,862 886,813
------------------------------------------------------
Cash and equivalents 575 71,010
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 644 43,449 $315
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 541 13
------------------------------------------------------
Total current assets 1,760 114,472 315
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 997 33,769
------------------------------------------------------
Total deferred charges 997 33,769
------------------------------------------------------
TOTAL ASSETS $32,619 $1,035,054 $315
======================================================
</TABLE>
<PAGE 66>
<PAGE>
Edison Capital and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
International Mission
Capital Bartlett Hill
Inc. Company
============================================================================================================
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 $6,148
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 6,148
------------------------------------------------------
Cash and equivalents 15
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $1 172
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 98
------------------------------------------------------
Total current assets 1 285
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 598
------------------------------------------------------
Total deferred charges 598
------------------------------------------------------
TOTAL ASSETS $1 $7,031
======================================================
</TABLE>
PAGE 67
<PAGE>
Edison Capital and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Edison Consolidating Capital
Capital 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 $726 $36,736
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 23,364 $(24,166) 311,921
Investments in leveraged leases 1 574,091
Other investments
------------------------------------------------------
Total other property and investments 24,090 (24,165) 922,748
------------------------------------------------------
Cash and equivalents (611) 403 71,392
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,655 (15,187) 33,049
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 9 (1) 660
------------------------------------------------------
Total current assets 3,053 (14,785) 105,101
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (31) (402) 34,931
------------------------------------------------------
Total deferred charges (31) (402) 34,931
------------------------------------------------------
TOTAL ASSETS $27,112 $(39,352) $1,062,780
======================================================
</TABLE>
<PAGE 68>
<PAGE>
Edison Capital and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Renewable
Funding Energy
Burlington Company Capital
Apts., Inc. Consolidated Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1,682 $126,749 $3
Retained earnings (1,237) 105,090 185
------------------------------------------------------
445 231,839 188
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 29,327 74,612
------------------------------------------------------
Total capitalization 29,772 306,451 188
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 342 6,924 127
Accrued taxes
Accrued interest 146 261
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 447 136,391
------------------------------------------------------
Total current liabilities 935 143,576 127
------------------------------------------------------
Accumulated deferred income taxes - net 2,120 548,818
Accumulated deferred investment tax credits
Customer advances and other deferred credits 7 36,209
------------------------------------------------------
Total deferred credits 2,127 585,027
------------------------------------------------------
Minority interest (215)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $32,619 $1,035,054 $315
======================================================
</TABLE>
<PAGE 69>
<PAGE>
Edison Capital and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
International Mission
Capital Bartlett Hill
Inc. Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $819
Retained earnings $(3) 47
------------------------------------------------------
(3) 866
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 4,980
------------------------------------------------------
Total capitalization (3) 5,846
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 4 271
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 83
------------------------------------------------------
Total current liabilities 4 354
------------------------------------------------------
Accumulated deferred income taxes - net 30
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 30
------------------------------------------------------
Minority interest 801
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1 $7,031
======================================================
</TABLE>
<PAGE 70>
<PAGE>
Edison Capital and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Edison Consolidating Capital
Capital Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $80,597 $(129,253) $80,597
Retained earnings (69,561) 105,893 140,414
------------------------------------------------------
11,036 (23,360) 221,011
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 108,919
------------------------------------------------------
Total capitalization 11,036 (23,360) 329,930
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 12,547 (15,194) 5,021
Accrued taxes
Accrued interest 407
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 2,753 3 139,677
------------------------------------------------------
Total current liabilities 15,300 (15,191) 145,105
------------------------------------------------------
Accumulated deferred income taxes - net (549) 550,419
Accumulated deferred investment tax credits
Customer advances and other deferred credits 1,325 37,541
------------------------------------------------------
Total deferred credits 776 587,960
------------------------------------------------------
Minority interest (801) (215)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $27,112 $(39,352) $1,062,780
======================================================
</TABLE>
<PAGE 71>
<PAGE>
Edison Capital and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Renewable
Funding Energy
Burlington Company Capital
Apts., Inc. Consolidated Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $3,875 $21,260
------------------------------------------------------
Total operating revenue 3,875 21,260
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 1,517 1,180
Maintenance
Depreciation and decommissioning 886 9,225
Income taxes 190 (41,373)
Property and other taxes
------------------------------------------------------
Total operating expenses 2,593 (30,968)
------------------------------------------------------
Operating income 1,282 52,228
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 222
Minority interest 27 312
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 27 534
------------------------------------------------------
Income before interest and other expenses 1,309 52,762
------------------------------------------------------
Interest on long-term debt 1,953 7,108
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 1,953 7,108
------------------------------------------------------
NET INCOME (644) 45,654
Retained Earnings - beginning of year (593) 76,855 $185
Dividends declared on common stock (17,419)
------------------------------------------------------
Retained Earnings - End of year $(1,237) $105,090 $185
======================================================
</TABLE>
<PAGE 72>
<PAGE>
Edison Capital and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
International Mission
Capital Bartlett Hill
Inc. Company
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $441
------------------------------------------------------
Total operating revenue 441
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 335
Maintenance
Depreciation and decommissioning 195
Income taxes (176)
Property and other taxes
------------------------------------------------------
Total operating expenses 3 354
------------------------------------------------------
Operating income (3) 87
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest 295
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 295
------------------------------------------------------
Income before interest and other expenses (3) 382
------------------------------------------------------
Interest on long-term debt 335
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 335
------------------------------------------------------
NET INCOME (3) 47
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - End of year $(3) $47
======================================================
</TABLE>
<PAGE 73>
<PAGE>
Edison Capital and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Edison Consolidating Capital
Capital Adjustments Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $4 $(3) $25,577
------------------------------------------------------
Total operating revenue 4 (3) 25,577
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 9,388 (5) 12,418
Maintenance
Depreciation and decommissioning 157 (1) 10,462
Income taxes (3,934) (2) (45,295)
Property and other taxes
------------------------------------------------------
Total operating expenses 5,611 (8) (22,415)
------------------------------------------------------
Operating income (5,607) 5 47,992
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1 223
Minority interest 634
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 1 857
------------------------------------------------------
Income before interest and other expenses (5,607) 6 48,849
------------------------------------------------------
Interest on long-term debt 9,396
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 9,396
------------------------------------------------------
NET INCOME (5,607) 6 39,453
Retained Earnings - beginning of year (63,954) 105,468 117,961
Dividends declared on common stock 419 (17,000)
------------------------------------------------------
Retained Earnings - End of year $(69,561) $105,893 $140,414
======================================================
</TABLE>
<PAGE 74>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHICAL 95 Company
& Edison Edison
Edison Housing Housing Housing
Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C>
Name of Entity: MHICAL 95 LP/ A E Associates Argyle
Abby Associates (Avenida Espana) Redevelopment
Partnership
Ownership Interest: 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $7,659 $8,908 $6,163
Revenues $303 $482 $1,809
Net Income (Loss) ($306) ($269) ($275)
</TABLE>
<PAGE 75>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Bartlett Hill MHIFED 94 LP/ MHIFED 94 LP/ Centertown
Associates Berry Avenue Carlton Way Apts/ Associates
Ownership Interest: 70.0% 99.0%x1.0% 99.0%x1.0% 99.0%
Equity Interest in (000):
Assets $0 $127 $46 $7,707
Revenues $8 $256 $204 $369
Net Income (Loss) ($59) ($267) ($169) ($192)
</TABLE>
<PAGE 76>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison
Housing Housing Housing
Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C>
Name of Entity: Centro MHIFED 94 LP/ Coyote Springs
Partners Corona Ely Ranch Apartments
Associates Associates
Ownership Interest: 99.0% 99.0%x1.0% 99.0%
Equity Interest in (000):
Assets $5,656 $150 $12,072
Revenues $239 $396 $577
Net Income (Loss) ($313) ($262) ($348)
</TABLE>
<PAGE 77>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
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 $2,981 $2,799 $5,897 $3,540
Revenues $203 $228 $258 $151
Net Income (Loss) ($79) ($94) ($228) ($146)
</TABLE>
<PAGE 78>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Farm (The) MHIFED 94 LP/ Gilroy Ginzton
Associates Fell Street Redwood Associates
Housing Associates
Associates
Ownership Interest: 99.0% 99.0%x1.0% 99.0% 99.0%
Equity Interest in (000):
Assets $6,185 $154 $3,312 $9,710
Revenues $298 $449 $172 $637
Net Income (Loss) ($111) ($348) ($129) ($179)
</TABLE>
<PAGE 79>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Grossman Heather Glen Holy Family MHIFED 94 LP/
Apartments Associates Associates Hope West Apts
Investors
Ownership Interest: 99.0% 99.0% 99.0% 99.0%x1.0%
Equity Interest in (000):
Assets $1,278 $5,686 $9,949 $29
Revenues $96 $366 $548 $64
Net Income (Loss) ($47) ($598) ($236) ($126)
</TABLE>
<PAGE 80>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Kennedy Lofts MHIFED 95 LP/ MHIFED 95 LP/ Mission Housing
Associates La Brea/Franklin Larkin & Pine I/
Calif Park Apts.
Ownership Interest: 97.0% 99.0%x1.0% 99.0%x1.0% 99.0%x1.0%
Equity Interest in (000):
Assets $20,527 $61 $126 $35
Revenues $257 $81 $65 $4
Net Income (Loss) ($183) ($124) ($86) ($1)
</TABLE>
<PAGE 81>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Housing
Delta and
Edison Edison Edison Edison Edison
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%x1.0% 99.0%x1.0% 99.0%x1.0% 99.0% 99.0%
Equity Interest in (000):
Assets $13 $50 $76 $10,731 $11,975
Revenues $2 $5 $10 $534 $687
Net Income (Loss) ($1) ($3) ($3) ($313) ($427)
</TABLE>
<PAGE 82>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHICAL 94 Company
&
Edison Edison Edison Mission
Housing Housing Housing Housing
Investments Investments Investments Alpha
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHICAL 94 LP/ Mid-Peninsula Mission Capp Lee Park
Mayacamas Sharmon Palms Investors
Village Associates
Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $6,691 $3,093 $5,713 $33,726
Revenues $296 $191 $378 $6,516
Net Income (Loss) ($350) ($98) ($243) ($518)
</TABLE>
<PAGE 83>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(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 5363 Dent Ave
Ownership Interest: 99.0% 99.0% 99.0%x99.0% 99.0%x99.0%
Equity Interest in (000):
Assets $7,404 $5,421 $3,417 $1,278
Revenues $342 $175 $349 $152
Net Income (Loss) ($307) ($206) ($123) ($81)
</TABLE>
<PAGE 84>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Delta Delta Epsilon
===========================================================================================================
===========================================================================================================
<S> <C> <C> <C>
Name of Entity: MH III MH IV Riverside/
Limited Limited Liebrandt
Partnership Partnership Partners (La Playa)
De Rose MPT Apartments
Ownership Interest: 99.0%x99.0% 99.0%x99.0% 99.0%
Equity Interest in (000):
Assets $4,906 $7,512 $2,791
Revenues $453 $1,026 $61
Net Income (Loss) ($331) ($278) ($104)
</TABLE>
<PAGE 85>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Housing Housing Housing Housing
Zeta Theta Theta Theta
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Fremont Building LP Mission Mission Mission
(Crescent Arms) Housing Housing Housing
Investors Investors Investors
Partnership/ Partnership/ Partnership/
Forest Winds Glen Eden Gray's Meadows
Ownership Interest: 99.0% 99.0%x5.0% 99.0%x5.0% 99.0%x5.0%
Equity Interest in (000):
Assets $25,359 $301 $377 $288
Revenues $181 $14 $12 $14
Net Income (Loss) ($792) ($12) ($14) ($14)
</TABLE>
<PAGE 86>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(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: 99.0%x5.0% 99.0%x5.0% 99.0%x5.0% 99.0%x5.0%
Equity Interest in (000):
Assets $421 $159 $135 $582
Revenues $15 $5 $8 $69
Net Income (Loss) ($12) ($6) ($5) ($21)
</TABLE>
<PAGE 87>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Edison
Housing Housing Housing
Theta Theta Investments
=====================================================================================================
=====================================================================================================
<S> <C> <C> <C>
Name of Entity: Mission Mission MHIFED 94 LP/
Housing Housing Morrone Gardens
Investors Investors Associates
Partnership/ Partnership/
Springdale Kresson 1028 Howard
Ownership Interest: 99.0%x5.0% 99.0%x5.0% 99.0%x1.0%
Equity Interest in (000):
Assets $434 $253 $91
Revenues $25 $10 $479
Net Income (Loss) ($11) ($9) ($216)
</TABLE>
<PAGE 88>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Neary Lagoon Open Doors MHIFED 94 LP/ Palmer
Associates Associates Pajaro Court House
Ownership Interest: 99.0% 99.0% 99.0%x1.0% 99.0%
Equity Interest in (000):
Assets $10,126 $8,353 $19 $1,891
Revenues $440 $392 $30 $196
Net Income (Loss) ($384) ($202) ($55) ($51)
</TABLE>
<PAGE 89>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHIFED 95C Co
&
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHIFED 95C LP/ Pilot MHIFED 95 LP/ Post Office
Park Place Terrace Grove Pinole Grove Plaza
Ownership Interest: 99.0% 99.0% 99.0%x1.0% 99.0%
Equity Interest in (000):
Assets $9,950 $7,503 $98 $62,729
Revenues $20 $0 $133 $9,046
Net Income (Loss) ($104) $0 ($101) $365
</TABLE>
<PAGE 90>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHICAL 94 Co.
&
Edison Edison
Housing Housing
Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C>
Name of Entity: MHICAL 94 LP/ Rosebloom
Rincon De Los Associates
Esteros Assoc (Oakshade)
Ownership Interest: 99.0% 99.0%
Equity Interest in (000):
Assets $32,543 $3,268
Revenues $1,661 $174
Net Income (Loss) ($1,954) ($165)
</TABLE>
<PAGE 91>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: San Pablo San Pedro Santa Paulan MHIFED 95 LP/
Senior Housing Gardens Senior Second Street
Associates Associates Apartments Center
Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%x1.0%
Equity Interest in (000):
Assets $4,307 $3,124 $9,103 $51
Revenues $301 $109 $780 $74
Net Income (Loss) ($164) ($142) ($234) $8
</TABLE>
<PAGE 92>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
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: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $13,907 $9,810 $3,356 $2,624
Revenues $693 $397 $216 $146
Net Income (Loss) ($359) ($306) ($151) ($80)
</TABLE>
<PAGE 93>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: Tabor Grand The Josephinum MHIFED 94 LP/ MHIFED 94 LP/
Associates Tierra Linda Tlaquepaque
Associates Housing Assoc
Ownership Interest: 99.0% 99.0% 99.0%x1.0% 99.0%x1.0%
Equity Interest in (000):
Assets $3,699 $10,243 $32 $66
Revenues $204 $985 $206 $359
Net Income (Loss) ($132) ($505) ($102) ($102)
</TABLE>
<PAGE 94>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
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: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $4,343 $3,929 $1,222 $13,313
Revenues $237 $185 $123 $605
Net Income (Loss) ($210) ($119) ($8) ($367)
</TABLE>
<PAGE 95>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHICAL 94 Co.
&
Edison Edison Edison
Housing Housing Housing
Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C>
Name of Entity: MHICAL 94 LP/ Y.W.C.A. 16th and
Winfield Hill Villa Nueva Church Street
Associates Associates Associates
Ownership Interest: 99% 99% 99%
Equity Interest in (000):
Assets $30,217 $8,882 $2,573
Revenues $916 $308 $120
Net Income (Loss) ($748) ($329) ($143)
</TABLE>
<PAGE 96>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison
Housing Housing
Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C>
Name of Entity: 210 Delta
Washington Plaza
Avenue Apartments
Associates Associates
(Renaissance
Plaza)
Ownership Interest: 99.0% 99.0%
Equity Interest in (000):
Assets $8,522 $2,257
Revenues $534 $70
Net Income (Loss) ($479) ($139)
</TABLE>
<PAGE 97>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHIFED 94 LP/ MHIFED 94 LP/ MHIFED 95 LP/ MHIFED 95 LP/
Fairview CDR Senior Hollywood 1101 Howard
Village Housing Assoc. El Centro St. Associates
Associates
Ownership Interest: 99.0%x1.0% 99.0%x1.0% .099.0%x1.0% 99.0%x1.00%
Equity Interest in (000):
Assets $8 $72 $113 $59
Revenues $44 $306 $312 $64
Net Income (Loss) ($20) ($260) ($131) ($76)
</TABLE>
PAGE 98
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHIFED 95 LP/ MHIFED 95 LP/ MHIFED 95 LP/ MHIFED 95 LP/
Solinas Avalon Mercy Housing Three Oaks
Village Courtyard California III Housing
Partners
Ownership Interest: 99.0%x1.0% 95.0%x1.0% 99.0%x1.0% 99.0%x1.0%
Equity Interest in (000):
Assets $34 $326 $22 $31
Revenues $67 $14 $14 $9
Net Income (Loss) ($64) ($23) ($19) ($9)
</TABLE>
PAGE 99
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHICAL 94 Co MHIFED 96 Co MHIFED 96 Co MHIFED 96 Co
& & & &
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHICAL 94 LP/ MHIFED 96 LP/ MHIFED 96 LP/ MHIFED 96 LP/
West Capital Lavell Village North Town Poco Way
Courtyard Associates Housing Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $6,738 $1,029 $16,273 $13,491
Revenues $244 $0 $0 $125
Net Income (Loss) ($290) $0 $0 ($226)
</TABLE>
<PAGE 100>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHIFED 96 Co EHI Development MHICAL 95 Co MHICAL 95 Co
& Company & &
Edison & Edison Edison
Housing Mission SA Housing Housing
Investments Company Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHIFED 96 LP/ Santa Alicia MHICAL 95 LP/ MHICAL 95 LP/
Seasons Affordable Antelope Baker Park
Senior Housing Associates Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $0 $396 $21,915 $16,198
Revenues $0 $0 $320 $83
Net Income (Loss) $0 $0 ($468) ($159)
</TABLE>
<PAGE 101>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHICAL 95 Co MHICAL 95 Co MHICAL 95 Co MHICAL 95 Co
& & & &
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHICAL 95 LP/ MHICAL 95 LP/ MHICAL 95 LP/ MHICAL 95 LP/
Bracher Catalonia Colina Vista Florin Woods
Associates Associates Associates
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $12,100 $0 $6,116 $7,808
Revenues $22 $0 $135 $93
Net Income (Loss) ($68) $0 ($188) ($212)
</TABLE>
<PAGE 102>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Housing
MHICAL 95 Co MHICAL 95 Co Holdings MHIFED 96A Co
& & & &
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHICAL 95 LP/ MHICAL 95 LP/ Mission Housing MHIFED 96A LP/
Pinmore Sunset Creek Partnership 1996/ Altamont Hotel
Associates Partners La Terraza
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $11,145 $14,516 $30,716 $0
Revenues $13 $104 $0 $0
Net Income (Loss) ($91) ($221) ($420) $0
</TABLE>
PAGE 103
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHIFED 96A Co MHIFED 96A Co MHIFED 96A Co MHIFED 96A Co
& & & &
Edison Edison Edison Edison
Housing Housing Housing Housing
Investments Investments Investments Investments
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C>
Name of Entity: MHIFED 96A LP/ MHIFED 96A LP/ MHIFED 96A LP/ MHIFED 96A LP/
Good Samaritan Mercy Housing Reseda Village Oxnard Housing
California VI
Ownership Interest: 99.0% 99.0% 99.0% 99.0%
Equity Interest in (000):
Assets $0 $0 $0 $0
Revenues $0 $0 $0 $0
Net Income (Loss) $0 $0 $0 $0
</TABLE>
<PAGE 104>
<PAGE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Housing
Denver
============================================================================================================
============================================================================================================
<S> <C>
Name of Entity: Mercantile Square
Ownership Interest: 99.0%
Equity Interest in (000):
Assets $2,376
Revenues $0
Net Income (Loss) $0
</TABLE>
PAGE 105
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding
First Asset Funding Epsilon
Investment Beta 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 $76,084 $385,166
Other investments
------------------------------------------------------
Total other property and investments 76,084 385,166
------------------------------------------------------
Cash and equivalents 3
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $19,777 38,995 229,953
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 13
------------------------------------------------------
Total current assets 19,777 38,995 229,969
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3
------------------------------------------------------
Total deferred charges 3
------------------------------------------------------
TOTAL ASSETS $19,777 $115,079 $615,138
======================================================
</TABLE>
<PAGE 106>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Funding Funding Funding
Gamma Kappa Theta
============================================================================================================
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 $83
Investments in leveraged leases $61,947
Other investments
------------------------------------------------------
Total other property and investments 61,947 83
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 22,427 13 $7
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 22,427 13 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 $84,374 $96 $7
======================================================
</TABLE>
<PAGE 107>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Funding Funding Funding
Mu Nu Zeta
============================================================================================================
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 $22,689
Investments in leveraged leases $14,559 $35,535
Other investments
------------------------------------------------------
Total other property and investments 14,559 35,535 22,689
------------------------------------------------------
Cash and equivalents 8 17
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 5,530 10,620 40,666
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 5,538 10,637 40,666
------------------------------------------------------
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 $20,097 $46,172 $63,355
======================================================
</TABLE>
<PAGE 108>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison
Integrated Edison Housing
Energy Funding Investments
Services Company 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 $670,466 $289,951
Investments in leveraged leases 799
Other investments
------------------------------------------------------
Total other property and investments 670,466 290,750
------------------------------------------------------
Cash and equivalents 69,969 1,013
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $30 9,811 222,483
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 30 79,780 223,496
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 4 1,077 32,685
------------------------------------------------------
Total deferred charges 4 1,077 32,685
------------------------------------------------------
TOTAL ASSETS $34 $751,323 $546,931
======================================================
</TABLE>
<PAGE 109>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Funding
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $(670,466) $312,723
Investments in leveraged leases 574,090
Other investments
------------------------------------------------------
Total other property and investments (670,466) 886,813
------------------------------------------------------
Cash and equivalents 71,010
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (556,863) 43,449
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 13
------------------------------------------------------
Total current assets (556,863) 114,472
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 33,769
------------------------------------------------------
Total deferred charges 33,769
------------------------------------------------------
TOTAL ASSETS $(1,227,329) $1,035,054
======================================================
</TABLE>
<PAGE 110>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding
First Asset Funding Epsilon
Investment Beta Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $19,764 $39,747 $245,312
Retained earnings 13 153 1,108
------------------------------------------------------
19,777 39,900 246,420
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 19,777 39,900 246,420
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 48 108
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 147
------------------------------------------------------
Total current liabilities 48 255
------------------------------------------------------
Accumulated deferred income taxes - net 74,848 368,463
Accumulated deferred investment tax credits
Customer advances and other deferred credits 283
------------------------------------------------------
Total deferred credits 75,131 368,463
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $19,777 $115,079 $615,138
======================================================
</TABLE>
<PAGE 111>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Funding Funding Funding
Gamma Kappa Theta
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $31,488 $100
Retained earnings 292 (21) $(10)
------------------------------------------------------
31,780 79 (10)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 31,780 79 (10)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 53 17 17
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 53 17 17
------------------------------------------------------
Accumulated deferred income taxes - net 52,541
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 52,541
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $84,374 $96 $7
======================================================
</TABLE>
<PAGE 112>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Funding Funding Funding
Mu Nu Zeta
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $14,750 $33,188 $26,450
Retained earnings 1,876 4,093 8,259
------------------------------------------------------
16,626 37,281 34,709
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 16,626 37,281 34,709
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 6 6 114
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 6 6 114
------------------------------------------------------
Accumulated deferred income taxes - net 3,465 8,885 28,532
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 3,465 8,885 28,532
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $20,097 $46,172 $63,355
======================================================
</TABLE>
<PAGE 113>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison
Integrated Edison Housing
Energy Funding Investments
Services Company Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $126,747 $273,064
Retained earnings $(3) (11,626) 87,561
------------------------------------------------------
(3) 115,121 360,625
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 74,612
------------------------------------------------------
Total capitalization (3) 189,733 360,625
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 37 557,639 5,742
Accrued taxes
Accrued interest 261
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 136,244
------------------------------------------------------
Total current liabilities 37 557,900 141,986
------------------------------------------------------
Accumulated deferred income taxes - net (2,479) 14,563
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,169 29,757
------------------------------------------------------
Total deferred credits 3,690 44,320
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $34 $751,323 $546,931
======================================================
</TABLE>
<PAGE 114>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Funding
Consolidating Company
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $(683,861) $126,749
Retained earnings 13,395 105,090
------------------------------------------------------
(670,466) 231,839
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 74,612
------------------------------------------------------
Total capitalization (670,466) 306,451
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (556,863) 6,924
Accrued taxes
Accrued interest 261
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 136,391
------------------------------------------------------
Total current liabilities (556,863) 143,576
------------------------------------------------------
Accumulated deferred income taxes - net 548,818
Accumulated deferred investment tax credits
Customer advances and other deferred credits 36,209
------------------------------------------------------
Total deferred credits 585,027
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $(1,227,329) $1,035,054
======================================================
</TABLE>
<PAGE 115>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Funding
First Asset Funding Epsilon
Investment Beta Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $1,020 $7,015
------------------------------------------------------
Total operating revenue 1,020 7,015
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 3 9
Maintenance
Depreciation and decommissioning
Income taxes (2) 300 746
Property and other taxes
------------------------------------------------------
Total operating expenses 1 303 755
------------------------------------------------------
Operating income (1) 717 6,260
------------------------------------------------------
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 (1) 717 6,260
------------------------------------------------------
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) 717 6,260
Retained Earnings - beginning of year 14 19,585 99,017
Dividends declared on common stock (20,149) (104,169)
------------------------------------------------------
Retained Earnings - End of year $13 $153 $1,108
======================================================
</TABLE>
<PAGE 116>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Funding Funding Funding
Gamma Kappa Theta
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $2,066
------------------------------------------------------
Total operating revenue 2,066
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3 $3 $3
Maintenance
Depreciation and decommissioning
Income taxes 507 (5) (2)
Property and other taxes
------------------------------------------------------
Total operating expenses 510 (2) 1
------------------------------------------------------
Operating income 1,556 2 (1)
------------------------------------------------------
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 1,556 2 (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 1,556 2 (1)
Retained Earnings - beginning of year 15,598 (23) (8)
Dividends declared on common stock (16,862) (1)
------------------------------------------------------
Retained Earnings - End of year $292 $(21) $(10)
======================================================
</TABLE>
<PAGE 117>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Funding Funding Funding
Mu Nu Zeta
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $2,355 $5,722 $1,152
------------------------------------------------------
Total operating revenue 2,355 5,722 1,152
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3 3 3
Maintenance
Depreciation and decommissioning 894
Income taxes 894 2,244 (2,482)
Property and other taxes
------------------------------------------------------
Total operating expenses 897 2,247 (1,585)
------------------------------------------------------
Operating income 1,458 3,475 2,737
------------------------------------------------------
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 1,458 3,475 2,737
------------------------------------------------------
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 1,458 3,475 2,737
Retained Earnings - beginning of year 418 618 5,522
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - End of year $1,876 $4,093 $8,259
======================================================
</TABLE>
<PAGE 118>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Edison
Integrated Edison Housing
Energy Funding Investments
Services Company Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $1,963 $(33)
------------------------------------------------------
Total operating revenue 1,963 (33)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 1,062 82
Maintenance
Depreciation and decommissioning 153 8,178
Income taxes (1) (3,051) (40,521)
Property and other taxes
------------------------------------------------------
Total operating expenses 2 (1,836) (32,261)
------------------------------------------------------
Operating income (2) 3,799 32,228
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 98 124
Minority interest 312
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 98 436
------------------------------------------------------
Income before interest and other expenses (2) 3,897 32,664
------------------------------------------------------
Interest on long-term debt 7,107 1
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 7,107 1
------------------------------------------------------
NET INCOME (2) (3,210) 32,663
Retained Earnings - beginning of year (1) (132,211) 55,318
Dividends declared on common stock 123,795 (420)
------------------------------------------------------
Retained Earnings - End of year $(3) $(11,626) $87,561
======================================================
</TABLE>
<PAGE 119>
<PAGE>
Edison Funding Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Funding
Consolidating Company
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $21,260
------------------------------------------------------
Total operating revenue 21,260
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 1,180
Maintenance
Depreciation and decommissioning 9,225
Income taxes (41,373)
Property and other taxes
------------------------------------------------------
Total operating expenses (30,968)
------------------------------------------------------
Operating income 52,228
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 222
Minority interest 312
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 534
------------------------------------------------------
Income before interest and other expenses 52,762
------------------------------------------------------
Interest on long-term debt 7,108
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 7,108
------------------------------------------------------
NET INCOME 45,654
Retained Earnings - beginning of year $13,008 76,855
Dividends declared on common stock 387 (17,419)
------------------------------------------------------
Retained Earnings - End of year $13,395 $105,090
======================================================
</TABLE>
<PAGE 120>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Income Statement
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission (Bermuda)
Funding Funding Investments,
Alpha Delta 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 $189,745 $22,740
Other investments
------------------------------------------------------
Total other property and investments 189,745 22,740
------------------------------------------------------
Cash and equivalents $1
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 128,096 18,334 12
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 128,096 18,334 13
------------------------------------------------------
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 $317,841 $41,074 $13
======================================================
</TABLE>
<PAGE 121>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Income Statement
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Misson
Mission Bermuda Mission
Investments Inv Pi Funding
Inc. Ltd. Epsilon
============================================================================================================
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 $104,415
Investments in leveraged leases 172,681
Other investments
------------------------------------------------------
Total other property and investments 277,096
------------------------------------------------------
Cash and equivalents $1 $1
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 2 141,972
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 13
------------------------------------------------------
Total current assets 3 1 141,985
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3
------------------------------------------------------
Total deferred charges 3
------------------------------------------------------
TOTAL ASSETS $3 $1 $419,084
======================================================
</TABLE>
<PAGE 122>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Income Statement
December 31, 1995
(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)
Investments in leveraged leases $385,166
Other investments
------------------------------------------------------
Total other property and investments (104,415) 385,166
------------------------------------------------------
Cash and equivalents 3
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (58,463) 229,953
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 13
------------------------------------------------------
Total current assets (58,463) 229,969
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3
------------------------------------------------------
Total deferred charges 3
------------------------------------------------------
TOTAL ASSETS $(162,878) $615,138
======================================================
</TABLE>
<PAGE 123>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission (Bermuda)
Funding Funding Investments,
Alpha Delta Ltd.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $90,522 $13,880 $12
Retained earnings 488 64
------------------------------------------------------
91,010 13,944 12
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 91,010 13,944 12
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 53,391 5,163 1
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 53,391 5,163 1
------------------------------------------------------
Accumulated deferred income taxes - net 173,440 21,967
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 173,440 21,967
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $317,841 $41,074 $13
======================================================
</TABLE>
<PAGE 124>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Misson
Mission Bermuda Mission
Investments Inv Pi Funding
Inc. Ltd. Epsilon
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1 $245,312
Retained earnings 556
------------------------------------------------------
1 245,868
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 1 245,868
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2 $1 13
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 147
------------------------------------------------------
Total current liabilities 2 1 160
------------------------------------------------------
Accumulated deferred income taxes - net 173,056
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 173,056
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $3 $1 $419,084
======================================================
</TABLE>
<PAGE 125>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(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 1,108
------------------------------------------------------
(104,415) 246,420
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (104,415) 246,420
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (58,463) 108
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 147
------------------------------------------------------
Total current liabilities (58,463) 255
------------------------------------------------------
Accumulated deferred income taxes - net 368,463
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 368,463
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $(162,878) $615,138
======================================================
</TABLE>
<PAGE 126>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission (Bermuda)
Funding Funding Investments,
Alpha Delta Ltd.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $4,242 $487
------------------------------------------------------
Total operating revenue 4,242 487
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3 3
Maintenance
Depreciation and decommissioning
Income taxes 1,140 623
Property and other taxes
------------------------------------------------------
Total operating expenses 1,143 626
------------------------------------------------------
Operating income 3,099 (139)
------------------------------------------------------
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 3,099 (139)
------------------------------------------------------
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 3,099 (139)
Retained Earnings - beginning of year 50,731 5,310
Dividends declared on common stock (53,342) (5,107)
------------------------------------------------------
Retained Earnings - End of year $488 $64
======================================================
</TABLE>
<PAGE 127>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Bermuda Mission
Investments Inv Pi Funding
Inc. Ltd. Epsilon
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $2,286
------------------------------------------------------
Total operating revenue 2,286
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3
Maintenance
Depreciation and decommissioning
Income taxes (1,017)
Property and other taxes
------------------------------------------------------
Total operating expenses (1,014)
------------------------------------------------------
Operating income 3,300
------------------------------------------------------
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 3,300
------------------------------------------------------
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 3,300
Retained Earnings - beginning of year 42,976
Dividends declared on common stock (45,720)
------------------------------------------------------
Retained Earnings - End of year $556
======================================================
</TABLE>
<PAGE 128>
<PAGE>
Mission Funding Epsilon and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Funding
Consolidating Epsilon
Adjustments Consolidated
============================================================================================================
<S> <C>
Electric utility revenue
Diversified operations $7,015
------------------------------------------------------
Total operating revenue 7,015
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 9
Maintenance
Depreciation and decommissioning
Income taxes 746
Property and other taxes
------------------------------------------------------
Total operating expenses 755
------------------------------------------------------
Operating income 6,260
------------------------------------------------------
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 6,260
------------------------------------------------------
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 6,260
Retained Earnings - beginning of year 99,017
Dividends declared on common stock (104,169)
------------------------------------------------------
Retained Earnings - End of year $1,108
======================================================
</TABLE>
<PAGE 129>
PAGE
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Alpha Beta Delta
============================================================================================================
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 $1,229 $2,990 $6,800
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 1,229 2,990 6,800
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,948 2,662 6,457
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 3,948 2,662 6,457
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 137
------------------------------------------------------
Total deferred charges 137
------------------------------------------------------
TOTAL ASSETS $5,314 $5,652 $13,257
======================================================
</TABLE>
<PAGE 130>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Epsilon Gamma Theta
============================================================================================================
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 $739 $2,349 $1,170
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 739 2,349 1,170
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 320 2,003 609
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 320 2,003 609
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 86
------------------------------------------------------
Total deferred charges 86
------------------------------------------------------
TOTAL ASSETS $1,059 $4,352 $1,865
======================================================
</TABLE>
<PAGE 131>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Housing MHIFED MHICAL
Zeta 94 94
============================================================================================================
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 $9,905 $1 $23,951
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 9,905 1 23,951
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 357 19,809 12,245
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 357 19,809 12,245
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 8,910 556
------------------------------------------------------
Total deferred charges 8,910 556
------------------------------------------------------
TOTAL ASSETS $10,262 $28,720 $36,752
======================================================
</TABLE>
<PAGE 132>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
EHI
Dev MHIFED MHICAL
Fund 95 95
============================================================================================================
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 $38,815
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 38,815
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $4,013 $12,648 5,427
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 4,013 12,648 5,427
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 990 10,544
------------------------------------------------------
Total deferred charges 990 10,544
------------------------------------------------------
TOTAL ASSETS $5,003 $23,192 $44,242
======================================================
</TABLE>
<PAGE 133>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHIFED MHIFED MHIFED
95B 96A 95C
============================================================================================================
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 $9,886 $4,888
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 9,886 4,888
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $1 1 124
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 1 1 124
------------------------------------------------------
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 $9,887 $5,012
======================================================
</TABLE>
<PAGE 134>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
EHI Mission
Dev MHIFED Housing
Co 96 Holdings
============================================================================================================
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 $211 $21,357 $17,946
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 211 21,357 17,946
------------------------------------------------------
Cash and equivalents 1,008
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1 217 193
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 1,009 217 193
------------------------------------------------------
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 $1,220 $21,574 $18,139
======================================================
</TABLE>
<PAGE 135>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
MHICAL Mission Housing
96 SA Denver
============================================================================================================
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 $8,000 $6,316
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 8,000 6,316
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $1 1 1
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 1 1 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 $8,001 $6,317
======================================================
</TABLE>
<PAGE 136>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Edison 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 $240,677 $(107,279) $289,951
Investments in leveraged leases 799 799
Other investments
------------------------------------------------------
Total other property and investments 241,476 (107,279) 290,750
------------------------------------------------------
Cash and equivalents 5 1,013
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 153,276 (1,831) 222,483
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 153,281 (1,831) 223,496
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 11,462 32,685
------------------------------------------------------
Total deferred charges 11,462 32,685
------------------------------------------------------
TOTAL ASSETS $406,219 $(109,110) $546,931
======================================================
</TABLE>
<PAGE 137>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Alpha Beta Delta
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $3,264 $4,459 $10,073
Retained earnings 832 1,295 2,837
------------------------------------------------------
4,096 5,754 12,910
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 4,096 5,754 12,910
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 27 17 17
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 22
------------------------------------------------------
Total current liabilities 27 17 39
------------------------------------------------------
Accumulated deferred income taxes - net 1,191 (119) 308
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 1,191 (119) 308
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $5,314 $5,652 $13,257
======================================================
</TABLE>
<PAGE 138>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Epsilon Gamma Theta
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $847 $3,340 $1,181
Retained earnings 14 1,092 353
------------------------------------------------------
861 4,432 1,534
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 861 4,432 1,534
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 17 17 146
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 204 132
------------------------------------------------------
Total current liabilities 221 17 278
------------------------------------------------------
Accumulated deferred income taxes - net (23) (97) 53
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (23) (97) 53
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,059 $4,352 $1,865
======================================================
</TABLE>
<PAGE 139>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Housing MHIFED MHICAL
Zeta 94 94
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $792 $20,040 $25,491
Retained earnings (460) 4,500 3,973
------------------------------------------------------
332 24,540 29,464
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 332 24,540 29,464
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 18 180 537
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 9,396 1,661 5,374
------------------------------------------------------
Total current liabilities 9,414 1,841 5,911
------------------------------------------------------
Accumulated deferred income taxes - net 7 308 1,377
Accumulated deferred investment tax credits
Customer advances and other deferred credits 509 2,031
------------------------------------------------------
Total deferred credits 516 2,339 1,377
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $10,262 $28,720 $36,752
======================================================
</TABLE>
<PAGE 140>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
EHI
Dev MHIFED MHICAL
Fund 95 95
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $5,000 $8,662 $20,569
Retained earnings 5,519 1,588
------------------------------------------------------
5,000 14,181 22,157
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 5,000 14,181 22,157
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3 296 4
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 2,317 21,514
------------------------------------------------------
Total current liabilities 3 2,613 21,518
------------------------------------------------------
Accumulated deferred income taxes - net 2,148 567
Accumulated deferred investment tax credits
Customer advances and other deferred credits 4,250
------------------------------------------------------
Total deferred credits 6,398 567
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $5,003 $23,192 $44,242
======================================================
</TABLE>
<PAGE 141>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHIFED MHIFED MHIFED
95B 96A 95C
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $347 $396
Retained earnings $(3) (3) (1)
------------------------------------------------------
(3) 344 395
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (3) 344 395
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 4 4 4
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 9,539 4,618
------------------------------------------------------
Total current liabilities 4 9,543 4,622
------------------------------------------------------
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 $1 $9,887 $5,012
======================================================
</TABLE>
<PAGE 142>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
EHI Mission
Dev MHIFED Housing
Co 96 Holdings
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1,000 $670 $899
Retained earnings 6 (3) (237)
------------------------------------------------------
1,006 667 662
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 1,006 667 662
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 214 3 3
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 20,901 17,463
------------------------------------------------------
Total current liabilities 214 20,904 17,466
------------------------------------------------------
Accumulated deferred income taxes - net 3 11
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 3 11
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,220 $21,574 $18,139
======================================================
</TABLE>
<PAGE 143>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
MHICAL Mission Housing
96 SA Denver
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $50 $200
Retained earnings $(2) (3) (3)
------------------------------------------------------
(2) 47 197
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (2) 47 197
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3 4 4
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 3 4 4
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits 7,950 6,116
------------------------------------------------------
Total deferred credits 7,950 6,116
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1 $8,001 $6,317
======================================================
</TABLE>
<PAGE 144>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Edison Housing
Housing Consolidating Investments
Investments Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $273,063 $(107,279) $273,064
Retained earnings 66,267 87,561
------------------------------------------------------
339,330 (107,279) 360,625
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 339,330 (107,279) 360,625
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 6,051 (1,831) 5,742
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 43,103 136,244
------------------------------------------------------
Total current liabilities 49,154 (1,831) 141,986
------------------------------------------------------
Accumulated deferred income taxes - net 8,834 14,563
Accumulated deferred investment tax credits
Customer advances and other deferred credits 8,901 29,757
------------------------------------------------------
Total deferred credits 17,735 44,320
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $406,219 $(109,110) $546,931
======================================================
</TABLE>
<PAGE 145>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Alpha Beta Delta
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(518) $(307) $(1,122)
------------------------------------------------------
Total operating revenue (518) (307) (1,122)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3 2 3
Maintenance
Depreciation and decommissioning 31 180 294
Income taxes (418) (969) (2,185)
Property and other taxes
------------------------------------------------------
Total operating expenses (384) (787) (1,888)
------------------------------------------------------
Operating income (134) 480 766
------------------------------------------------------
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 (134) 480 766
------------------------------------------------------
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 (134) 480 766
Retained Earnings - beginning of year 966 816 2,071
Dividends declared on common stock (1)
------------------------------------------------------
Retained Earnings - End of year $832 $1,295 $2,837
======================================================
</TABLE>
<PAGE 146>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Housing Housing Housing
Epsilon Gamma Theta
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(104) $(205) $(92)
------------------------------------------------------
Total operating revenue (104) (205) (92)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3 3 3
Maintenance
Depreciation and decommissioning 37 121 71
Income taxes (173) (698) (35)
Property and other taxes
------------------------------------------------------
Total operating expenses (133) (574) 39
------------------------------------------------------
Operating income 29 369 (131)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 68
Minority interest
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 68
------------------------------------------------------
Income before interest and other expenses 29 369 (63)
------------------------------------------------------
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 29 369 (63)
Retained Earnings - beginning of year (15) 723 416
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - End of year $14 $1,092 $353
======================================================
</TABLE>
<PAGE 147>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Housing MHIFED MHICAL
Zeta 94 94
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(792) $(2,311) $(3,308)
------------------------------------------------------
Total operating revenue (792) (2,311) (3,308)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3 3 3
Maintenance
Depreciation and decommissioning 576 1,116
Income taxes (342) (3,219) (6,600)
Property and other taxes
------------------------------------------------------
Total operating expenses (339) (2,640) (5,481)
------------------------------------------------------
Operating income (453) 329 2,173
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 36
Minority interest 607
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 607 36
------------------------------------------------------
Income before interest and other expenses (453) 936 2,209
------------------------------------------------------
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 (453) 936 2,209
Retained Earnings - beginning of year (7) 3,564 1,764
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - End of year $(460) $4,500 $3,973
======================================================
</TABLE>
<PAGE 148>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
EHI
Dev MHIFED MHICAL
Fund 95 95
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(564) $(1,697)
------------------------------------------------------
Total operating revenue (564) (1,697)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 3 3
Maintenance
Depreciation and decommissioning 234 1,571
Income taxes 2 (382) (4,860)
Property and other taxes
------------------------------------------------------
Total operating expenses 5 (145) (3,286)
------------------------------------------------------
Operating income (5) (419) 1,589
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 6
Minority interest
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 6
------------------------------------------------------
Income before interest and other expenses 1 (419) 1,589
------------------------------------------------------
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 (419) 1,589
Retained Earnings - beginning of year (1) 5,938 (1)
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - End of year $0 $5,519 $1,588
======================================================
</TABLE>
<PAGE 149>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MHIFED MHIFED MHIFED
95B 96A 95C
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $(103)
------------------------------------------------------
Total operating revenue (103)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 $3 3
Maintenance
Depreciation and decommissioning 23
Income taxes (1) (1) (128)
Property and other taxes
------------------------------------------------------
Total operating expenses 2 2 (102)
------------------------------------------------------
Operating income (2) (2) (1)
------------------------------------------------------
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 (2) (2) (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 (2) (2) (1)
Retained Earnings - beginning of year (1) (1)
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - End of year $(3) $(3) $(1)
======================================================
</TABLE>
<PAGE 150>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
EHI Mission
Dev MHIFED Housing
Co 96 Holdings
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $8 $(215) $(416)
------------------------------------------------------
Total operating revenue 8 (215) (416)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 2 3 3
Maintenance
Depreciation and decommissioning
Income taxes (215) (182)
Property and other taxes
------------------------------------------------------
Total operating expenses 2 (212) (179)
------------------------------------------------------
Operating income 6 (3) (237)
------------------------------------------------------
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 6 (3) (237)
------------------------------------------------------
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 6 (3) (237)
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - End of year $6 $(3) $(237)
======================================================
</TABLE>
<PAGE 151>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
MHICAL Mission Housing
96 SA Denver
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 $3 $3
Maintenance
Depreciation and decommissioning
Income taxes (1)
Property and other taxes
------------------------------------------------------
Total operating expenses 2 3 3
------------------------------------------------------
Operating income (2) (3) (3)
------------------------------------------------------
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 (2) (3) (3)
------------------------------------------------------
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) (3) (3)
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - End of year $(2) $(3) $(3)
======================================================
</TABLE>
<PAGE 152>
<PAGE>
Edison Housing Investments and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Edison Housing
Housing Consolidating Investments
Investments Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $11,418 $295 $(33)
------------------------------------------------------
Total operating revenue 11,418 295 (33)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 21 82
Maintenance
Depreciation and decommissioning 3,924 8,178
Income taxes (20,114) (40,521)
Property and other taxes
------------------------------------------------------
Total operating expenses (16,169) (32,261)
------------------------------------------------------
Operating income 27,587 295 32,228
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 14 124
Minority interest (295) 312
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 14 (295) 436
------------------------------------------------------
Income before interest and other expenses 27,601 32,664
------------------------------------------------------
Interest on long-term debt 1 1
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 1 1
------------------------------------------------------
NET INCOME 27,600 32,663
Retained Earnings - beginning of year 39,086 55,318
Dividends declared on common stock (419) (420)
------------------------------------------------------
Retained Earnings - End of year $66,267 $0 $87,561
======================================================
</TABLE>
<PAGE 153>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(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 18,893 $(1,810)
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 19,897 (1,810)
------------------------------------------------------
Cash and equivalents 158 118
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3,321 1,026
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (3)
------------------------------------------------------
Total current assets 3,476 1,144
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 4
------------------------------------------------------
Total deferred charges 4
------------------------------------------------------
TOTAL ASSETS $23,373 ($662)
======================================================
</TABLE>
<PAGE 154>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Carol
Stream Centrelake Corona
Developers Partners, L.P. Partners, L.P.
============================================================================================================
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 $9,912 $20,481 $11,079
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 9,912 20,481 11,079
------------------------------------------------------
Cash and equivalents 36 14 192
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1,850 7 72
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (42)
------------------------------------------------------
Total current assets 1,886 21 222
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 1 (1) 237
------------------------------------------------------
Total deferred charges 1 (1) 237
------------------------------------------------------
TOTAL ASSETS $11,799 $20,501 $11,538
======================================================
</TABLE>
<PAGE 155>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Irwindale Lusk-Mission Mission
Land Industrial Airport Park
Company Partners I Dvlp. Co.
============================================================================================================
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 $3,223 $31,437
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 3,223 31,437
------------------------------------------------------
Cash and equivalents 28 449
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 198 22,538
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (8)
------------------------------------------------------
Total current assets 226 22,979
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 6 11,018
------------------------------------------------------
Total deferred charges 6 11,018
------------------------------------------------------
TOTAL ASSETS $3,455 $65,434
======================================================
</TABLE>
<PAGE 156>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Ontario
Airport Mission Mission
Ind. Park CCH I, L.P. DAI I, 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
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 157>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial
Constructors, Mission Mission
Inc. Koll I, L.P. Nexus I. 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 $7,291
provision for depreciation
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 4
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 4
------------------------------------------------------
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 $7,411
======================================================
</TABLE>
<PAGE 158>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Nexus II, L.P. Oceangate Ontario Inc.
============================================================================================================
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 $5,719 $52,581 $25,060
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 5,719 52,581 25,060
------------------------------------------------------
Cash and equivalents 3 390 24
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 895 1,405
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1 (11) 1
------------------------------------------------------
Total current assets 4 1,274 1,430
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (1) 779 10,008
------------------------------------------------------
Total deferred charges (1) 779 10,008
------------------------------------------------------
TOTAL ASSETS $5,722 $54,634 $36,498
======================================================
</TABLE>
<PAGE 159>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Texas Mission
South Bay Property Vacaville
Company Holdings, Inc. 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 $54,350
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $750
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 750 54,350
------------------------------------------------------
Cash and equivalents 4 68
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $226 (741) 19
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (23)
------------------------------------------------------
Total current assets 226 (737) 64
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (1) 1,666
------------------------------------------------------
Total deferred charges (1) 1,666
------------------------------------------------------
TOTAL ASSETS $226 $12 $56,080
======================================================
</TABLE>
<PAGE 160>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Realco
Ontario Texas Master Mission
Lakeshore Limited Land
Partners, L.P. Partnership Company
============================================================================================================
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 $60,386
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 171,767
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 232,153
------------------------------------------------------
Cash and equivalents 4,347
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 137,180
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 237
------------------------------------------------------
Total current assets 141,764
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 4,116
------------------------------------------------------
Total deferred charges 4,116
------------------------------------------------------
TOTAL ASSETS $378,033
======================================================
</TABLE>
<PAGE 161>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Land
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 $749 $283,272
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (189,600)
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments (188,851) 283,272
------------------------------------------------------
Cash and equivalents 8 5,843
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (146,787) 21,209
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 19 171
------------------------------------------------------
Total current assets (146,760) 27,223
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (158) 27,790
------------------------------------------------------
Total deferred charges (158) 27,790
------------------------------------------------------
TOTAL ASSETS ($335,769) $338,285
======================================================
</TABLE>
<PAGE 162>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(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) $0
Retained earnings 30,506 ($2,257)
------------------------------------------------------
21,884 (2,257)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 1,368
------------------------------------------------------
Total capitalization 21,884 (889)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term
debt and redeemable preferred stock
Short-term debt
Accounts payable 252 283
Accrued taxes 445 60
Accrued interest 116
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 697 459
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits 792 (232)
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 792 (232)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $23,373 ($662) $0
======================================================
</TABLE>
<PAGE 163>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Carol
Stream Centrelake Corona
Developers Partners, L.P. Partners, L.P.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $9,961 $16,874 $956
Retained earnings (187) (1,241) (1,691)
------------------------------------------------------
9,774 15,633 (735)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 2,455 4,234 9,648
------------------------------------------------------
Total capitalization 12,229 19,867 8,913
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
debt and redeemable preferred stock
Short-term debt
Accounts payable (923) 235 (112)
Accrued taxes 191
Accrued interest 281 384 912
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 41
------------------------------------------------------
Total current liabilities (451) 619 841
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits 21 15 1,784
------------------------------------------------------
Total deferred credits 21 15 1,784
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $11,799 $20,501 $11,538
======================================================
</TABLE>
<PAGE 164>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Irwindale Lusk-Mission Mission
Land Industrial Airport Park
Company Partners I Dvlp. Co.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $45,051
Retained earnings $(516) 2,534
------------------------------------------------------
(516) 47,585
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 97 7,431
------------------------------------------------------
Total capitalization (419) 55,016
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3,589 6,831
Accrued taxes (220) 579
Accrued interest 430 842
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 12 137
------------------------------------------------------
Total current liabilities 3,811 8,389
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits 54 177
Customer advances and other deferred credits 9 1,852
------------------------------------------------------
Total deferred credits 63 2,029
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $3,455 $65,434
======================================================
</TABLE>
<PAGE 165>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Ontario
Airport Mission Mission
Ind. Park CCH I, L.P. DAI I, L.P.
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <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
======================================================
</TABLE>
<PAGE 166>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial
Constructors, Mission Mission
Inc. Koll I, L.P. Nexus I, L.P.
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $7,929
Retained earnings $(1) (573)
------------------------------------------------------
(1) 7,356
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (1) 7,356
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2 50
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 5
------------------------------------------------------
Total current liabilities 2 55
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits (1)
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (1)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $7,411
======================================================
</TABLE>
<PAGE 167>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Nexus II, L.P. Oceangate Ontario Inc.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $5,457 $17,903 $16,544
Retained earnings (22) (2,865) 527
------------------------------------------------------
5,435 15,038 17,071
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 33,805
------------------------------------------------------
Total capitalization 5,435 48,843 17,071
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 291 147 19,155
Accrued taxes (356)
Accrued interest 5,565
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other (4) 48
------------------------------------------------------
Total current liabilities 287 5,760 18,799
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits (74)
Customer advances and other deferred credits 31 702
------------------------------------------------------
Total deferred credits 31 628
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $5,722 $54,634 $36,498
======================================================
</TABLE>
<PAGE 168>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Texas Mission
South Bay Property Vacaville
Company Holdings, Inc. L.P.
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $32 $47,814
Retained earnings $1 (936) (6,632)
------------------------------------------------------
1 (904) 41,182
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 75 12,146
------------------------------------------------------
Total capitalization 1 (829) 53,328
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 739 150
Accrued taxes (16) 21
Accrued interest 1,405
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 23
------------------------------------------------------
Total current liabilities (16) 760 1,578
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits 241 81
Customer advances and other deferred credits 1,174
------------------------------------------------------
Total deferred credits 241 81 1,174
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $226 $12 $56,080
======================================================
</TABLE>
<PAGE 169>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Realco
Ontario Texas Master Mission
Lakeshore Limited Land
Partners, L.P. Partnership Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $211,379
Retained earnings 55,272
------------------------------------------------------
266,651
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 39,773
------------------------------------------------------
Total capitalization 306,424
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt 1,944
Short-term debt
Accounts payable 32,372
Accrued taxes 219
Accrued interest 221
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 559
------------------------------------------------------
Total current liabilities 35,315
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits 8,450
Customer advances and other deferred credits 27,091
------------------------------------------------------
Total deferred credits 35,541
------------------------------------------------------
Minority interest 753
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $378,033
======================================================
</TABLE>
<PAGE 170>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Land
Consolidating Company
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock ($168,870) $202,408
Retained earnings (12,789) 59,130
------------------------------------------------------
(181,659) 261,538
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (78,874) 32,158
------------------------------------------------------
Total capitalization (260,533) 293,696
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt 1,944
Short-term debt
Accounts payable (62,207) 854
Accrued taxes (476) 447
Accrued interest (9,935) 221
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other (17) 804
------------------------------------------------------
Total current liabilities (72,635) 4,270
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits 123 9,611
Customer advances and other deferred credits (1,971) 30,708
------------------------------------------------------
Total deferred credits (1,848) 40,319
------------------------------------------------------
Minority interest (753)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($335,769) $338,285
======================================================
</TABLE>
<PAGE 171>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern CA Commerce
Investment Calabasas Center
Company Palatino Inc. North, L.P.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $942 $(221)
------------------------------------------------------
Total operating revenue 942 (221)
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 2 (1)
Maintenance
Depreciation and decommissioning 2
Income taxes 332 (7)
Property and other taxes 5
------------------------------------------------------
Total operating expenses 339 (6)
------------------------------------------------------
Operating income 603 (215)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 6
Minority interest
Taxes on nonoperating income 1 24
Other - net 234
------------------------------------------------------
Total other income - net 7 258
------------------------------------------------------
Income before interest and other expenses 610 43
------------------------------------------------------
Interest on long-term debt 4 89
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 4 89
------------------------------------------------------
NET INCOME 606 (46)
------------------------------------------------------
Retained Earnings at Beginning of Period 29,900 (2,212)
Deduct - Dividends on Common Stock and Other
------------------------------------------------------
RETAINED EARNINGS AT END OF PERIOD $30,506 ($2,257)
======================================================
</TABLE>
<PAGE 172>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Carol
Stream Centrelake Corona
Developers Partners, L.P. Partners, L.P.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $4,261 $61 $1,052
------------------------------------------------------
Total operating revenue 4,261 61 1,052
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 3,897 117 161
Maintenance 164 55 276
Depreciation and decommissioning 1 405
Income taxes 1 (7)
Property and other taxes 241 188 118
------------------------------------------------------
Total operating expenses 4,303 361 953
------------------------------------------------------
Operating income (42) (300) 99
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income (8)
Other - net (252)
------------------------------------------------------
Total other income - net (260)
------------------------------------------------------
Income before interest and other expenses (42) (300) (161)
------------------------------------------------------
Interest on long-term debt 230 338 793
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 230 338 793
------------------------------------------------------
NET INCOME (272) (638) (954)
------------------------------------------------------
Retained Earnings at Beginning of Period 85 (603) (737)
Deduct - Dividends on Common Stock and Other
------------------------------------------------------
Retained Earnings at End of Period ($187) ($1,241) ($1,691)
======================================================
</TABLE>
<PAGE 173>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Irwindale Lusk-Mission Mission
Land Industrial Airport Park
Company Partners I Dvlp. Co.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $12 $9,780
------------------------------------------------------
Total operating revenue 12 9,780
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 118 6,079
Maintenance 76 728
Depreciation and decommissioning 8 1,218
Income taxes (250) 276
Property and other taxes 111 318
------------------------------------------------------
Total operating expenses 63 8,619
------------------------------------------------------
Operating income (51) 1,161
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 101
Minority interest
Taxes on nonoperating income 11
Other - net 4
-------------------------------------------------------
Total other income - net 116
------------------------------------------------------
Income before interest and other expenses (51) 1,277
------------------------------------------------------
Interest on long-term debt 309 687
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 309 687
------------------------------------------------------
NET INCOME (360) 590
------------------------------------------------------
Retained Earnings at Beginning of Period (156) 1,944
Deduct - Dividends on Common Stock and Other
------------------------------------------------------
Retained Earnings at End of Period ($516) $2,534
======================================================
</TABLE>
<PAGE 174>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Ontario
Airport Mission Mission
Ind. Park CCH I, L.P. DAI I, L.P.
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue $0 $0 $0
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
Taxes on nonoperating income
Other - net
------------------------------------------------------
Total other income - 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
------------------------------------------------------
Retained Earnings at Beginning of Period
Deduct - Dividends on Common Stock and Other
------------------------------------------------------
Retained Earnings at End of Period $0 $0 $0
======================================================
</TABLE>
<PAGE 175>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Industrial
Constructors, Mission Mission
Inc. Koll I, L.P. Nexus I, L.P.
============================================================================================================
(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 $12
Maintenance 33
Depreciation and decommissioning
Income taxes (1)
Property and other taxes 84
------------------------------------------------------
Total operating expenses 128
------------------------------------------------------
Operating income (128)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income (3)
Other - net
------------------------------------------------------
Total other income - net (3)
------------------------------------------------------
Income before interest and other expenses (131)
------------------------------------------------------
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 (131)
------------------------------------------------------
Retained Earnings at Beginning of Period $(1) (442)
Deduct - Dividends on Common Stock and Other
------------------------------------------------------
Retained Earnings at End of Period ($1) ($573)
======================================================
</TABLE>
<PAGE 176>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Nexus II, L.P. Oceangate Ontario Inc.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $8 $3,650 $2,823
------------------------------------------------------
Total operating revenue 8 3,650 2,823
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 12 461 2,636
Maintenance 4 209 (49)
Depreciation and decommissioning 217 2
Income taxes 1 (1) (539)
Property and other taxes 23 767 1,546
------------------------------------------------------
Total operating expenses 40 1,653 3,596
------------------------------------------------------
Operating income (32) 1,997 (773)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income (1)
Other - net
------------------------------------------------------
Total other income - net (1)
------------------------------------------------------
Income before interest and other expenses (32) 1,996 (773)
------------------------------------------------------
Interest on long-term debt 3,139
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 3,139
------------------------------------------------------
NET INCOME (32) (1,143) (773)
------------------------------------------------------
Retained Earnings at Beginning of Period 10 (1,722) 1,300
Deduct - Dividends on Common Stock and Other
------------------------------------------------------
Retained Earnings at End of Period ($22) ($2,865) $527
======================================================
</TABLE>
<PAGE 177>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Texas Mission
South Bay Property Vacaville
Company Holdings, Inc. L.P.
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $1,383
------------------------------------------------------
Total operating revenue 1,383
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 1,503
Maintenance 166
Depreciation and decommissioning 432
Income taxes $922 1
Property and other taxes 1,057
------------------------------------------------------
Total operating expenses 922 3,159
------------------------------------------------------
Operating income (922) (1,776)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2
Minority interest
Taxes on nonoperating income
Other - net 1
------------------------------------------------------
Total other income - net 1 2
------------------------------------------------------
Income before interest and other expenses (921) (1,774)
------------------------------------------------------
Interest on long-term debt 1,068
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 1,068
------------------------------------------------------
NET INCOME (921) (2,842)
------------------------------------------------------
Retained Earnings at Beginning of Period 1 (15) (3,790)
Deduct - Dividends on Commonstock and Other
------------------------------------------------------
Retained Earnings at End of Period $1 ($936) ($6,632)
======================================================
</TABLE>
<PAGE 178>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income of Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Realco
Ontario Texas Master Mission
Lakeshore Limited Land
Partners, L.P. Partnership Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $15,254
------------------------------------------------------
Total operating revenue 15,254
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 8,271
Maintenance 187
Depreciation and decommissioning 1,781
Income taxes 1,693
Property and other taxes 1,267
------------------------------------------------------
Total operating expenses 13,199
------------------------------------------------------
Operating income 2,055
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 7,701
Minority interest 12
Taxes on nonoperating income 886
Other - net 213
------------------------------------------------------
Total other income - net 8,812
------------------------------------------------------
Income before interest and other expenses 10,867
------------------------------------------------------
Interest on long-term debt 3,354
Other interest expense (19)
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 3,335
------------------------------------------------------
NET INCOME 7,532
------------------------------------------------------
Retained Earnings at Beginning of Period 47,740
Deduct - Dividends on Common Stock and Other
------------------------------------------------------
Retained Earnings at End of Period $55,272
======================================================
</TABLE>
<PAGE 179>
<PAGE>
Mission Land Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Land
Consolidating Company
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $2 $39,007
------------------------------------------------------
Total operating revenue 2 39,007
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 549 23,817
Maintenance 8 1,857
Depreciation and decommissioning 4,066
Income taxes (1,498) 923
Property and other taxes 22 5,747
------------------------------------------------------
Total operating expenses (919) 36,410
------------------------------------------------------
Operating income 921 2,597
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (6,473) 1,337
Minority interest 12
Taxes on nonoperating income (1,490) (580)
Other - net 52 252
------------------------------------------------------
Total other income - net (7,911) 1,021
------------------------------------------------------
Income before interest and other expenses (6,990) 3,618
------------------------------------------------------
Interest on long-term debt (6,656) 3,355
Other interest expense (19)
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net (6,656) 3,336
------------------------------------------------------
NET INCOME (334) 282
------------------------------------------------------
Retained Earnings at Beginning of Period (12,455) 58,848
Deduct - Dividends on Common Stock and Other
------------------------------------------------------
Retained Earnings at End of Period ($12,789) $59,130
======================================================
</TABLE>
<PAGE 180>
<PAGE>
Mission Land Company and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Associated
Southern Mission Mission Mission Mission
Investment Land Land Land Land
Consolidated Company Company Company Company
============================================================================================================
============================================================================================================
<S> <C> <C> <C> <C> <C>
Name of Entity: Calabasas Mission- Mission- 701 Parkway
Central Dominion Shea I Minnesota Business
Valley Partners I L.P. Centre
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 181>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern Mission Power
Engineering Engineering Consolidating
Company Company Adjustments
============================================================================================================
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 $750
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 750
------------------------------------------------------
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 473
------------------------------------------------------
Total deferred charges 473
------------------------------------------------------
TOTAL ASSETS $1,223
======================================================
</TABLE>
<PAGE 182>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Power
Engineering Co.
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 $750
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 750
------------------------------------------------------
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 473
------------------------------------------------------
Total deferred charges 473
------------------------------------------------------
TOTAL ASSETS $1,223
======================================================
</TABLE>
<PAGE 183>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern Mission Power
Engineering Engineering Consolidating
Company Company Adjustments
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $3,000
Additional Paid in Capital
Retained earnings ($1) (12,472)
------------------------------------------------------
(1) (9,472)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (1) (9,472)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 1 678
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 1 678
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits 10,017
------------------------------------------------------
Total deferred credits 10,017
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,223
======================================================
</TABLE>
PAGE 184
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Power
Engineering Co.
Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C>
Common shareholders' equity:
Common stock $3,000
Additional Paid in Capital
Retained earnings (12,473)
------------------------------------------------------
(9,473)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (9,473)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 679
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 679
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits 10,017
------------------------------------------------------
Total deferred credits 10,017
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,223
======================================================
</TABLE>
PAGE 185
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Associated
Southern Mission Power
Engineering Engineering Consolidating
Company Company Adjustments
============================================================================================================
(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 $584
Maintenance
Depreciation and decommissioning
Income taxes (240)
Property and other taxes
------------------------------------------------------
Total operating expenses 344
------------------------------------------------------
Operating income (344)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1,196
Taxes on nonoperating income (143)
Minority interest
Other nonoperating income - net (848)
------------------------------------------------------
Total other income (deductions) - net 205
------------------------------------------------------
Income before interest and other expenses (139)
------------------------------------------------------
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 ($139)
Retained Earnings - beginning of year $(1) (12,333)
Dividends declared on common stock
-------------------------------------------------------
Retained Earnings - end of year ($1) ($12,472)
======================================================
</TABLE>
<PAGE 186>
<PAGE>
Mission Power Engineering Company and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Power
Engineering Co.
Consolidated
============================================================================================================
<S> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $584
Maintenance
Depreciation and decommissioning
Income taxes (240)
Property and other taxes
------------------------------------------------------
Total operating expenses 344
------------------------------------------------------
Operating income (344)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1,196
Taxes on nonoperating income (143)
Minority interest
Other nonoperating income - net (848)
------------------------------------------------------
Total other income (deductions) - net 205
------------------------------------------------------
Income before interest and other expenses (139)
------------------------------------------------------
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 ($139)
Retained Earnings - beginning of year (12,334)
Dividends declared on common stock
-------------------------------------------------------
Retained Earnings - end of year ($12,473)
======================================================
</TABLE>
<PAGE 187>
PAGE
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Aguila Anacapa Anacostia
Energy Energy Energy
Company Company Company
============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $17,891 $5,761
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 17,891 5,761
------------------------------------------------------
Cash and equivalents 5
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 13
------------------------------------------------------
Total current assets 5 14
------------------------------------------------------
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 $17,896 $5,775
======================================================
</TABLE>
<PAGE 188>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Bergen
Arrowhead Balboa Point
Energy Energy Energy
Company Company Company
============================================================================================================
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 $1,056
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 1,056
------------------------------------------------------
Cash and equivalents $7
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 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 $7 $1,056
======================================================
</TABLE>
<PAGE 189>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Blue Bretton
Ridge BN Woods
Energy Geothermal Energy
Company Inc. Company
============================================================================================================
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 $35,785
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 35,785
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - 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 $35,785
======================================================
</TABLE>
<PAGE 190>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Camino Capistrano Capitol
Energy Cogeneration Energy
Company Company Company
============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $130,277 $28,737
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 130,277 28,737
------------------------------------------------------
Cash and equivalents 16,014 20
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 582 8
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 59
------------------------------------------------------
Total current assets 16,655 28
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2,231
------------------------------------------------------
Total deferred charges 2,231
------------------------------------------------------
TOTAL ASSETS $149,163 $28,765
======================================================
</TABLE>
<PAGE 191>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Centerport Chesapeake Chester
Energy Bay Energy Energy
Company Company Company
============================================================================================================
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 $2,589
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 2,589
------------------------------------------------------
Cash and equivalents 1
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (1)
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - 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 $2,589
======================================================
</TABLE>
<PAGE 192>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Clayville Colonial Conejo
Energy Energy Energy
Company Company Company
============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $38,399
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 38,399
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - 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 $38,399
======================================================
</TABLE>
<PAGE 193>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Crescent
Coronado Valley
Energy Energy
Company Company
============================================================================================================
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 $15,447
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 15,447
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 9
------------------------------------------------------
Total current assets 9
------------------------------------------------------
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 $15,456
======================================================
</TABLE>
<PAGE 194>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Del Mar Delaware
Energy Energy
Company Conservers, Inc.
============================================================================================================
ASSETS (Inactive)
============================================================================================================
<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 $6,263
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 6,263
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 8
------------------------------------------------------
Total current assets 9
------------------------------------------------------
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 $6,272
======================================================
</TABLE>
<PAGE 195>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Desert Eastern
Sunrise Devereaux Sierra
Energy Energy Energy
Company Company Company
============================================================================================================
ASSETS (Inactive)
(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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $31,479 $10,395
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 31,479 10,395
------------------------------------------------------
Cash and equivalents 58
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 70
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 128
------------------------------------------------------
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 $31,479 $10,523
======================================================
</TABLE>
<PAGE 196>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
East Maine El Dorado
Energy Energy EMP
Company Company Inc.
============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $26,465 $30,914
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 26,465 30,914
------------------------------------------------------
Cash and equivalents 3 6
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 172 (145)
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 175 (139)
------------------------------------------------------
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 $26,640 $30,775
======================================================
</TABLE>
<PAGE 197>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Four Hanover
Countries Energy Holtsville
Gas Company Energy
Company Consolidated Company
============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $10,819
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 10,819
------------------------------------------------------
Cash and equivalents 71
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 57
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 128
------------------------------------------------------
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 $10,947
======================================================
</TABLE>
<PAGE 198>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Kings
Indiana Bay Jefferson Canyon
Energy Energy Energy
Company Company Company
============================================================================================================
ASSETS (Inactive) (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
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
Regulatory balancing accounts - 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 199>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Kingspark Laguna La Jolla
Energy Energy Energy
Company Company Company
============================================================================================================
ASSETS (Inactive) (Inactive)
(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
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
Regulatory balanced accounts - 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 200>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Lehigh
Lake Grove Lakeview River
Energy Energy Energy
Company Company Company
============================================================================================================
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
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
Regulatory balanced accounts - 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 201>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Longview Madera Madison
Cogeneration Energy Energy
Company Company Company
============================================================================================================
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 $29,997
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 29,997
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balanced accounts - 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 $29,997
======================================================
</TABLE>
<PAGE 202>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC Mission/
International Eagle
B.V. Mission Energy
Consolidated Capital Company
============================================================================================================
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 $2,742,263
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (362,576)
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 2,379,687
------------------------------------------------------
Cash and equivalents 93,682
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 88,988
Fuel inventory
Materials and supplies, at average cost
Regulatory balanced accounts - net
Prepayments and other current assets 4,899 74
------------------------------------------------------
Total current assets 187,569 74
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 395,939 $6,341
------------------------------------------------------
Total deferred charges 395,939 6,341
------------------------------------------------------
TOTAL ASSETS $2,963,195 $6,415
======================================================
</TABLE>
<PAGE 203>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy Energy
Canada Construction Holdings
Corporation Services,Inc. International,Inc.
============================================================================================================
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 $46,114
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 46,114
------------------------------------------------------
Cash and equivalents 29
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $1,167
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 29 1,167
------------------------------------------------------
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 $46,143 $1,167
======================================================
</TABLE>
<PAGE 204> <PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy Energy
Holding, Inc. Indonesia Mexico
============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments
------------------------------------------------------
Cash and equivalents $11
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 11
------------------------------------------------------
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 $11
======================================================
</TABLE>
<PAGE 205>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Energy Fuel
Energy Energy Company
New York, Inc. Westside, Inc. 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 $76,625 $226,993
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 76,625 226,993
------------------------------------------------------
Cash and equivalents 163
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 21
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 403
------------------------------------------------------
Total current assets 587
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant - net
Income tax-related deferred charges
Other deferred charges
------------------------------------------------------
Total deferred charges 0
------------------------------------------------------
TOTAL ASSETS $76,625 $227,580
======================================================
</TABLE>
<PAGE 206>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Mission Operations Mission
Operation & de Mexico, Triple Cycle
Maintenance S.A. Systems
Inc. de C.V. Company
============================================================================================================
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 $240
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 240
------------------------------------------------------
Cash and equivalents 34
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 8,494
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 33
------------------------------------------------------
Total current assets 8,561
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 26
------------------------------------------------------
Total deferred charges 26
------------------------------------------------------
TOTAL ASSETS $8,827
======================================================
</TABLE>
<PAGE 207>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
North Northern
Niguel Jackson Sierra
Energy Energy Energy
Company Company Company
============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $40,905
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 40,905
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - 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 $40,905
======================================================
</TABLE>
<PAGE 208>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Ortega Paradise Panther
Energy Energy Timber
Company Company Company
============================================================================================================
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
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - 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 209>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Pleasant Prince
Energy Valley George
Wales Energy Energy
Company Company Company
============================================================================================================
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 $2,403 $16,491
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 2,403 16,491
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 3
Fuel inventory
Materials and supplies, at average cost
Regulatory balanced accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 3
------------------------------------------------------
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 $2,406 $16,491
======================================================
</TABLE>
<PAGE 210>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Quartz
Peak Rapidan Reeves Bay
Energy Energy Energy
Company Company Company
============================================================================================================
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 $12,225 $645
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 12,225 645
------------------------------------------------------
Cash and equivalents (73)
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 96
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 54
------------------------------------------------------
Total current assets 54 23
------------------------------------------------------
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 $12,279 $668
======================================================
</TABLE>
<PAGE 211>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Rio
Ridgecrest Escondido Riverport
Energy Energy Energy
Company Company Company
============================================================================================================
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
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts $1,685
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 1,685
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 86,024
------------------------------------------------------
Total deferred charges 86,024
------------------------------------------------------
TOTAL ASSETS $87,709
======================================================
</TABLE>
<PAGE 212>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
San Felipe San Gabriel
Energy Energy
Company Company
============================================================================================================
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 $31,391
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 31,391
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - 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 $31,391
======================================================
</TABLE>
<PAGE 213>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
San Joaquin San Juan San Pedro
Energy Energy Energy
Company Company Company
============================================================================================================
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 $34,875 $9,559
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 34,875 9,559
------------------------------------------------------
Cash and equivalents 10 10
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 6
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 38 44
------------------------------------------------------
Total current assets 54 54
------------------------------------------------------
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 $34,929 $9,613
======================================================
</TABLE>
<PAGE 214>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Santa Ana Santa Clara Silverado
Energy Energy Energy
Company Company Company
============================================================================================================
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 $5,863
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 5,863
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 1
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 11
------------------------------------------------------
Total current assets 12
------------------------------------------------------
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 $5,875
======================================================
</TABLE>
<PAGE 215>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Silver
Springs Sonoma South Coast
Energy Gothermal Energy
Company Company Company
============================================================================================================
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 $6,454 $9,779
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 6,454 9,779
------------------------------------------------------
Cash and equivalents 26
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 8 14
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 19
------------------------------------------------------
Total current assets 8 59
------------------------------------------------------
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 $6,462 $9,838
======================================================
</TABLE>
<PAGE 216>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern
Sierra Thorofare Viejo
Energy Energy Energy
Company Company Company
============================================================================================================
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 $52,682 $5,794
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 52,682 5,794
------------------------------------------------------
Cash and equivalents 9
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 19 1
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 57 13
------------------------------------------------------
Total current assets 85 14
------------------------------------------------------
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 $52,767 $5,808
======================================================
</TABLE>
<PAGE 217>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Western
Vista Sierra
Energy Energy
Company Company
============================================================================================================
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 $7,927 $48,645
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 7,927 48,645
------------------------------------------------------
Cash and equivalents 1 12
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 8
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 63
------------------------------------------------------
Total current assets 1 83
------------------------------------------------------
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 $7,928 $48,728
======================================================
</TABLE>
<PAGE 218>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Edison Mission
Mission Consolidating Energy
Energy 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 $6,877 $2,749,380
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 1,498,129 ($1,312,357) 880,840
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 1,505,006 (1,312,357) 3,630,220
------------------------------------------------------
Cash and equivalents 27,437 4 137,540
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 411 (4) 101,663
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 5,141 3 10,941
------------------------------------------------------
Total current assets 32,989 3 250,144
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3,109 2 493,672
------------------------------------------------------
Total deferred charges 3,109 2 493,672
------------------------------------------------------
TOTAL ASSETS $1,541,104 ($1,312,352) $4,374,036
======================================================
</TABLE>
<PAGE 219>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Aguila Anacapa Anacostia
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $17,301 $3,295
Retained earnings (3,285) (117) $(3)
------------------------------------------------------
14,016 3,178 (3)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 14,016 3,178 (3)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (13,874) 1,714 3
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 15
------------------------------------------------------
Total current liabilities (13,874) 1,729 3
------------------------------------------------------
Accumulated deferred income taxes - net 17,754 868
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 17,754 868
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $17,896 $5,775
=======================================================
</TABLE>
<PAGE 220>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Bergen
Arrowhead Balboa Point
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $968
Retained earnings $2 $(7) (1,226)
------------------------------------------------------
2 (7) (258)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 2 (7) (258)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (364) 12 1,095
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (364) 12 1,095
------------------------------------------------------
Accumulated deferred income taxes - net 369 (5) 219
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 369 (5) 219
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $7 $0 $1,056
=======================================================
</TABLE>
<PAGE 221>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Blue Bretton
Ridge BN Woods
Energy Geothermal Energy
Company Inc. Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $31,196 $313
Retained earnings $(6) (4,139) 68
------------------------------------------------------
(6) 27,057 381
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (6) 27,057 381
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 12 2,754 (432)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 12 2,754 (432)
------------------------------------------------------
Accumulated deferred income taxes - net (6) 5,741 51
Accumulated deferred investment tax credits 233
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (6) 5,974 51
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $35,785 $0
=======================================================
</TABLE>
<PAGE 222>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Camino Capistrano Capitol
Energy Cogeneration Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $22,900 $10,112
Retained earnings 27,838 868 $(1)
------------------------------------------------------
50,738 10,980 (1)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt 33,000
------------------------------------------------------
Total capitalization 83,738 10,980 (1)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 11,000
Short-term debt
Accounts payable 13,525 (1,071) 1
Accrued taxes
Accrued interest 1,549
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 73
------------------------------------------------------
Total current liabilities 26,147 (1,071) 1
------------------------------------------------------
Accumulated deferred income taxes - net 30,551 16,515
Accumulated deferred investment tax credits 8,727 2,341
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 39,278 18,856
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $149,163 $28,765 $0
=======================================================
</TABLE>
<PAGE 223>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Centerport Chesapeake Chester
Energy Bay Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $241 $2,536 $114
Retained earnings 49 14 (140)
------------------------------------------------------
290 2,550 (26)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 290 2,550 (26)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (334) 38 26
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (334) 38 26
------------------------------------------------------
Accumulated deferred income taxes - net 44 1
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 44 1
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $2,589 $0
=======================================================
</TABLE>
<PAGE 224>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Clayville Colonial Conejo
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $16,092
Retained earnings $(4) $(2) 990
------------------------------------------------------
(4) (2) 17,082
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (4) (2) 17,082
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable stock
Short-term debt
Accounts payable 4 2 (1,174)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 4 2 (1,174)
------------------------------------------------------
Accumulated deferred income taxes - net 18,984
Accumulated deferred investment tax credits 3,507
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 22,491
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $38,399
=======================================================
</TABLE>
<PAGE 225>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Crescent
Coronado Valley
Energy Energy
Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $(4) $5,252
------------------------------------------------------
(4) 5,252
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (4) 5,252
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 4 2,553
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 11
------------------------------------------------------
Total current liabilities 4 2,564
------------------------------------------------------
Accumulated deferred income taxes - net 4,351
Accumulated deferred investment tax credits 3,289
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 7,640
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $15,456
=======================================================
</TABLE>
<PAGE 226>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Del Mar Delaware
Energy Energy
Company Conservers, Inc
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $2,240
Retained earnings 523
------------------------------------------------------
2,763
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 2,763
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 748
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 10
------------------------------------------------------
Total current liabilities 758
------------------------------------------------------
Accumulated deferred income taxes - net 2,751
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 2,751
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $6,272
=======================================================
</TABLE>
<PAGE 227>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Desert Eastern
Sunrise Devereaux Sierra
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $12 $35,280 $9,153
Retained earnings (2) (2,813) (121)
------------------------------------------------------
10 32,467 9,032
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 10 32,467 9,032
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (11) (2,914) 1,265
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (11) (2,914) 1,265
------------------------------------------------------
Accumulated deferred income taxes - net 1 1,926 226
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 1 1,926 226
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $31,479 $10,523
=======================================================
</TABLE>
<PAGE 228>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
East Maine El Dorado
Energy Energy EMP
Company Company Inc.
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $8,800
Additional Paid in Capital $29,700 $480
Retained earnings $(6) (1,844) (790)
------------------------------------------------------
(6) 27,856 8,490
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (6) 27,856 8,490
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 5 590 (1,557)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 5 590 (1,557)
------------------------------------------------------
Accumulated deferred income taxes - net (1,806) 18,766
Accumulated deferred investment tax credits 5,076
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (1,806) 23,842
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $<1> $26,640 $30,775
=======================================================
</TABLE>
<PAGE 229>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Four Hanover
Counties Energy Holtsville
Gas Company Energy
Company Consolidated Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $7,774 $1,273
Retained earnings $(4) 25 (894)
------------------------------------------------------
(4) 7,799 379
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (4) 7,799 379
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 4 (329) (548)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 4 (329) (548)
------------------------------------------------------
Accumulated deferred income taxes - net 3,477 169
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 3,477 169
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $10,947 $0
=======================================================
</TABLE>
<PAGE 230>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Kings
Indian Bay Jefferson Canyon
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $207
Retained earnings 41 $(1,680) $(4)
------------------------------------------------------
248 (1,680) (4)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (248) (1,680) (4)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (287) 561 4
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (287) 561 4
------------------------------------------------------
Accumulated deferred income taxes - net 38 1,119
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 38 1,119
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($1) $0 $0
=======================================================
</TABLE>
<PAGE 231>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Kingspark Laguna La Jolla
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive) (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $3,094 $11,535
Retained earnings 245 (1,468) $(4)
------------------------------------------------------
3,339 10,067 (4)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt 2,644
------------------------------------------------------
Total capitalization 3,339 12,711 (4)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (4,598) (12,793) 4
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (4,598) (12,793) 4
------------------------------------------------------
Accumulated deferred income taxes - net 1,259 82
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 1,259 82
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $0
=======================================================
</TABLE>
<PAGE 232>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Lake Grove Lakeview Lehigh River
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $697 $8,093
Retained earnings (507) $(4) (6,612)
------------------------------------------------------
190 (4) 1,481
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 190 (4) 1,481
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (190) 4 (2,388)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (190) 4 (2,388)
------------------------------------------------------
Accumulated deferred income taxes - net 898
Accumulated deferred investment tax credits 9
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 907
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $0
=======================================================
</TABLE>
<PAGE 233>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Longview Madera Madison
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $25,440
Retained earnings $(3) $(6) 1,711
------------------------------------------------------
(3) (6) 27,151
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (3) (6) 27,151
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 3 11 (129)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 3 11 (129)
------------------------------------------------------
Accumulated deferred income taxes - net (5) 2,975
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (5) 2,975
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $29,997
=======================================================
</TABLE>
<PAGE 234>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC Mission/
International Eagle
B.V. Mission Energy
Consolidated Capital Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $22,886
Additional Paid in Capital $386,126
Retained earnings 31,514 $396
------------------------------------------------------
440,526 396
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership $150,000
Long-term debt 1,388,784
------------------------------------------------------
Total capitalization 1,829,310 150,396
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable stock 26,009
Short-term debt
Accounts payable 78,677 (143,964)
Accrued taxes 10,058
Accrued interest 9,947
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 28,437
------------------------------------------------------
Total current liabilities 153,128 (143,964)
------------------------------------------------------
Accumulated deferred income taxes - net 328,371 (17)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 22,232
------------------------------------------------------
Total deferred credits 350,603 (17)
------------------------------------------------------
Minority interest 630,154
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $2,963,195 $6,415
=======================================================
</TABLE>
<PAGE 235>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy Energy
Canada Construction Holdings
Corporation Services,Inc. International,Inc.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $45,135
Retained earnings (1,414) (1)
------------------------------------------------------
43,721 (1)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 43,721 (1)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 4,496 $1,167 1
Accrued taxes (2,135)
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 1
------------------------------------------------------
Total current liabilities 2,362 1,167 1
------------------------------------------------------
Accumulated deferred income taxes - net (730)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 790
------------------------------------------------------
Total deferred credits 60 0 0
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $46,143 $1,167 $0
=======================================================
</TABLE>
<PAGE 236>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy Energy
Holdings, Inc. Indonesia Mexico
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $200
Retained earnings $(1) $(4) (1,139)
------------------------------------------------------
(1) (4) (939)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (1) (4) (939)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 1 4 945
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 1 4 945
------------------------------------------------------
Accumulated deferred income taxes - net 0 5
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 0 5
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $11
=======================================================
</TABLE>
<PAGE 237>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Mission Energy Fuel
Energy Energy Company
New York, Inc. Westside, Inc. Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $62,834 $205,631
Retained earnings (1,173) $(1) 36,817
------------------------------------------------------
61,661 (1) 242,448
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt 12,257
------------------------------------------------------
Total capitalization 73,918 (1) 242,448
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 8,356 1 (15,207)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 1,617
------------------------------------------------------
Total current liabilities 8,356 1 (13,590)
------------------------------------------------------
Accumulated deferred income taxes - net (5,649) (1,278)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (5,649) 0 (1,278)
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $76,625 $0 $227,580
=======================================================
</TABLE>
<PAGE 238>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Mission Mission
Operation & Operations Triple Cycle
Maintenance de Mexico Systems
Inc. S.A. de C.V. Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $11,250 $335
Retained earnings 3,098 155
------------------------------------------------------
14,348 490
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 14,348 490
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (7,178) (314)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 2,267
------------------------------------------------------
Total current liabilities (4,911) (314)
------------------------------------------------------
Accumulated deferred income taxes - net (610) (176)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (610) (176)
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $8,827 $0
=======================================================
</TABLE>
<PAGE 239>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
North Northern
Niguel Jackson Sierra
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $13,730
Retained earnings 6,333 $(1) $134
------------------------------------------------------
20,063 (1) 134
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 20,063 (1) 134
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (3,286) 1 (134)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (3,286) 1 (134)
------------------------------------------------------
Accumulated deferred income taxes - net 20,339
Accumulated deferred investment tax credits 3,789
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 24,128
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $40,905 $0 $0
=======================================================
</TABLE>
<PAGE 240>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Ortega Paradise Panther
Energy Energy Timber
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $966
Retained earnings $(5) 256
------------------------------------------------------
(5) 1,222
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (5) 1,222
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 5 (787)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 5 (787)
------------------------------------------------------
Accumulated deferred income taxes - net (435)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 0 (435)
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0
=======================================================
</TABLE>
<PAGE 241>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Pleasant Prince
Energy Valley George
Wales Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $119 $12,790
Retained earnings $(4) 273 (494)
------------------------------------------------------
(4) 392 12,296
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (4) 392 12,296
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 4 1,857 1,094
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 4 1,857 1,094
------------------------------------------------------
Accumulated deferred income taxes - net 98 3,101
Accumulated deferred investment tax credits
Customer advances and other deferred credits 59
------------------------------------------------------
Total deferred credits 157 3,101
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $2,406 $16,491
=======================================================
</TABLE>
<PAGE 242>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Quartz
Peak Rapidan Reeves Bay
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $9,278 $2,114 $788
Retained earnings 104 (265) (669)
------------------------------------------------------
9,382 1,849 119
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 9,382 1,849 119
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 495 19 (119)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 65
------------------------------------------------------
Total current liabilities 560 19 (119)
------------------------------------------------------
Accumulated deferred income taxes - net 2,337 (1,200)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 2,337 (1,200)
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $12,279 $668 $0
=======================================================
</TABLE>
<PAGE 243>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Rio
Ridgecrest Escondido Riverport
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $101,131 $332
Retained earnings $(6) (11,492) 77
------------------------------------------------------
(6) 89,639 409
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (6) 89,639 409
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 11 (6,203) (461)
Accrued taxes 3,365
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 11 (2,838) (461)
------------------------------------------------------
Accumulated deferred income taxes - net (5) 908 52
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (5) 908 52
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $87,709 $0
=======================================================
</TABLE>
<PAGE 244>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
San Felipe San Gabriel
Energy Energy
Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $18,282
Retained earnings 2,292 $(222)
------------------------------------------------------
20,574 (222)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 20,574 (222)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (11,088) 100
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 115
------------------------------------------------------
Total current liabilities (11,088) 215
------------------------------------------------------
Accumulated deferred income taxes - net 17,854 7
Accumulated deferred investment tax credits 4,051
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 21,905 7
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $31,391 $0
=======================================================
</TABLE>
<PAGE 245>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
San Joaquin San Juan San Pedro
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Addional Paid in Capital $3,000 $4,942
Retained earnings 7,776 (1,417) $(6)
------------------------------------------------------
10,776 3,525 (6)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 10,776 3,525 (6)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 6,478 3,800 11
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 45 52
------------------------------------------------------
Total current liabilities 6,523 3,852 11
------------------------------------------------------
Accumulated deferred income taxes - net 14,496 2,236 (5)
Accumulated deferred investment tax credits 3,134
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 17,630 2,236 (5)
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $34,929 $9,613 $0
=======================================================
</TABLE>
<PAGE 246>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Santa Ana Santa Clara Silverado
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $2,910
Retained earnings $(7) $(4) 1,014
------------------------------------------------------
(7) (4) 3,924
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (7) (4) 3,924
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 11 4 1,331
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 13
------------------------------------------------------
Total current liabilities 11 4 1,344
------------------------------------------------------
Accumulated deferred income taxes - net (4) 0 607
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (4) 0 607
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $0 $5,875
=======================================================
</TABLE>
<PAGE 247>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Silver
Springs Sonoma South Coast
Energy Geothermal Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $5,511 $2,070
Retained earnings $(4) (328) 1,522
------------------------------------------------------
(4) 5,183 3,592
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (4) 5,183 3,592
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 4 1,550 1,953
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 60
------------------------------------------------------
Total current liabilities 4 1,550 2,013
------------------------------------------------------
Accumulated deferred income taxes - net (295) 3,484
Accumulated deferred investment tax credits 24 749
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (271) 4,233
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $0 $6,462 $9,838
=======================================================
</TABLE>
<PAGE 248>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern
Sierra Thorofare Viejo
Energy Energy Energy
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $5,456 $3,255
Retained earnings 19,341 (57)
------------------------------------------------------
24,797 3,198
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 24,797 3,198
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 11,250 1,574
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 68 16
------------------------------------------------------
Total current liabilities 11,318 1,590
------------------------------------------------------
Accumulated deferred income taxes - net 12,257 1,020
Accumulated deferred investment tax credits 4,395
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 16,652 1,020
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $52,767 $5,808
=======================================================
</TABLE>
<PAGE 249>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Western
Vista Sierra
Energy Energy
Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $12,910 $13,090
Retained earnings 526 2,065
------------------------------------------------------
13,436 15,155
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 13,436 15,155
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (4,974) 11,855
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 76
------------------------------------------------------
Total current liabilities (4,974) 11,931
------------------------------------------------------
Accumulated deferred income taxes - net (534) 17,123
Accumulated deferred investment tax credits 4,519
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (534) 21,642
------------------------------------------------------
Minority interest
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $7,928 $48,728
=======================================================
</TABLE>
<PAGE 250>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Edison Mission
Mission Consolidating Energy
Energy Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $64,131 ($31,687) $64,130
Additional Paid in Capital 636,790 (1,171,732) 629,289
Retained earnings 318,101 (104,482) 320,529
------------------------------------------------------
1,019,022 (1,307,902) 1,013,948
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership 150,000
Long-term debt 402,316 2 1,839,003
------------------------------------------------------
Total capitalization 1,421,338 (1,307,900) 3,002,951
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 37,009
Short-term debt
Accounts payable 159,770 (921) 84,138
Accrued taxes 11,288
Accrued interest 2,145 13,641
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 20,755 1 53,697
------------------------------------------------------
Total current liabilities 182,670 (920) 199,773
------------------------------------------------------
Accumulated deferred income taxes - net (78,371) 9,341 471,640
Accumulated deferred investment tax credits (12,873) 30,970
Customer advances and other deferred credits 15,467 38,548
------------------------------------------------------
Total deferred credits (62,904) (3,532) 541,158
------------------------------------------------------
Minority interest 630,154
-------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $1,541,104 ($1,312,352) $4,374,036
=======================================================
</TABLE>
<PAGE 251>
PAGE
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Aguila Anacapa Anacostia
Energy Energy Energy
Company Company Company
============================================================================================================
(inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations ($1,749) $603
-----------------------------------------------------
Total operating revenue (1,749) 603
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 343 701
Maintenance
Depreciation and decommissioning 133 68
Income taxes (1,092) (54) $1
Property and other taxes
------------------------------------------------------
Total operating expenses (616) 715 1
------------------------------------------------------
Operating income (1,133) (112) (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 239
Minority interest
Taxes on nonoperating income (93)
Other nonoperating income - net (1)
------------------------------------------------------
Total other income (deductions) - net 145
------------------------------------------------------
Income before interest and
other expenses (988) (112) (1)
------------------------------------------------------
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 ($988) ($112) ($1)
Retained Earnings - beginning of year (2,297) (5) (2)
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year ($3,285) ($117) ($3)
======================================================
</TABLE>
<PAGE 252>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Bergen
Arrowhead Balboa Point
Energy Energy Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $124
-----------------------------------------------------
Total operating revenue 124
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685
Maintenance
Depreciation and decommissioning 14
Income taxes $3 $1 (230)
Property and other taxes
------------------------------------------------------
Total operating expenses 3 1 469
------------------------------------------------------
Operating income (3) (1) (345)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income (3)
Other nonoperating income - net 7
------------------------------------------------------
Total other income (deductions) - net 4
------------------------------------------------------
Income before interest and
other expenses 1 (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 $1 ($1) ($345)
Retained Earnings - beginning of year (6) (881)
Dividends declared on common stock 1
------------------------------------------------------
Retained Earnings - end of year $2 ($7) ($1,226)
======================================================
</TABLE>
<PAGE 253>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Blue Bretton
Ridge BN Woods
Energy Geothermal Energy
Company Inc. Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $12,031
-----------------------------------------------------
Total operating revenue 12,031
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685
Maintenance
Depreciation and decommissioning
Income taxes $1 4,225 $3
Property and other taxes
------------------------------------------------------
Total operating expenses 1 4,910 3
------------------------------------------------------
Operating income (1) 7,121 (3)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and
other expenses (1) 7,121 (3)
------------------------------------------------------
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 ($1) $7,121 ($3)
Retained Earnings - beginning of year (6) (2,320) 70
Dividends declared on common stock 1 (8,940) 1
------------------------------------------------------
Retained Earnings - end of year ($6) ($4,139) $68
======================================================
</TABLE>
<PAGE 254>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Camino Capistrano Capitol
Energy Cogeneration Energy
Company Company Company
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $33,264 $3,331
-----------------------------------------------------
Total operating revenue 33,264 3,331
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 760 685
Maintenance
Depreciation and decommissioning 688 8
Income taxes 10,398 784
Property and other taxes
------------------------------------------------------
Total operating expenses 11,846 1,477
------------------------------------------------------
Operating income 21,418 1,854
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1,892
Minority interest
Taxes on nonoperating income (742)
Other nonoperating income - net (1)
------------------------------------------------------
Total other income (deductions) - net 1,149
------------------------------------------------------
Income before interest and
other expenses 22,567 1,854
------------------------------------------------------
Interest on long-term debt 5,158
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred securities
------------------------------------------------------
Total interest and other expenses - net 5,158
------------------------------------------------------
NET INCOME $17,409 $1,854
Retained Earnings - beginning of year 22,509 735 $(1)
Dividends declared on common stock (12,080) (1,721)
------------------------------------------------------
Retained Earnings - end of year $27,838 $868 ($1)
======================================================
</TABLE>
<PAGE 255>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Centerport Chesapeake Chester
Energy Bay Energy Energy
Company Company Company
============================================================================================================
<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 $2 $1 $1
Property and other taxes
------------------------------------------------------
Total operating expenses 2 1 1
------------------------------------------------------
Operating income (2) (1) (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 3
Minority interest
Taxes on nonoperating income (1)
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 2
------------------------------------------------------
Income before interest and
other expenses (2) 1 (1)
------------------------------------------------------
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 ($2) $1 ($1)
Retained Earnings - beginning of year 52 13 (140)
Dividends declared on common stock (1) 0 1
------------------------------------------------------
Retained Earnings - end of year $49 $14 ($140)
======================================================
</TABLE>
<PAGE 256>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Clayville Colonial Conejo
Energy Energy Energy
Company Company Company
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $8,074
-----------------------------------------------------
Total operating revenue 8,074
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685
Maintenance
Depreciation and decommissioning
Income taxes $1 $1 2,491
Property and other taxes
------------------------------------------------------
Total operating expenses 1 1 3,176
------------------------------------------------------
Operating income (1) (1) 4,898
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and
other expenses (1) (1) 4,898
------------------------------------------------------
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 ($1) ($1) $4,898
Retained Earnings - beginning of year (3) (2) 3,292
Dividends declared on common stock 0 1 (7,200)
------------------------------------------------------
Retained Earnings - end of year ($4) ($2) $990
======================================================
</TABLE>
<PAGE 257>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Crescent
Coronado Valley
Energy Energy
Company Company
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $2,560
-----------------------------------------------------
Total operating revenue 2,560
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 696
Maintenance
Depreciation and decommissioning 7
Income taxes $1 510
Property and other taxes
------------------------------------------------------
Total operating expenses 1 1,213
------------------------------------------------------
Operating income (1) 1,347
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and
other expenses (1) 1,347
------------------------------------------------------
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 ($1) $1,347
Retained Earnings - beginning of year (3) 3,904
Dividends declared on common stock 0 1
------------------------------------------------------
Retained Earnings - end of year ($4) $5,252
======================================================
</TABLE>
<PAGE 258>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Del Mar Delaware
Energy Energy
Company Conservers, Inc.
============================================================================================================
(Inactive)
<S> <C> <C>
Electric utility revenue
Diversified operations $1,486
-----------------------------------------------------
Total operating revenue 1,486
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 697
Maintenance
Depreciation and decommissioning 14
Income taxes 324
Property and other taxes
------------------------------------------------------
Total operating expenses 1,035
------------------------------------------------------
Operating income 451
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net 1
------------------------------------------------------
Total other income (deductions) - net 1
------------------------------------------------------
Income before interest and
other expenses 452
------------------------------------------------------
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 $452
Retained Earnings - beginning of year 679
Dividends declared on common stock (608)
------------------------------------------------------
Retained Earnings - end of year $523
======================================================
</TABLE>
<PAGE 259>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Desert
Sunrise Devereaux
Energy Energy
Company Company
============================================================================================================
(Inactive)
<S> <C> <C>
Electric utility revenue
Diversified operations ($691)
-----------------------------------------------------
Total operating revenue (691)
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 386
Maintenance
Depreciation and decommissioning
Income taxes (158)
Property and other taxes
------------------------------------------------------
Total operating expenses 228
------------------------------------------------------
Operating income (919)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net (1)
------------------------------------------------------
Total other income (deductions) - net (1)
------------------------------------------------------
Income before interest and
other expenses (920)
------------------------------------------------------
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 ($920)
Retained Earnings - beginning of year $1 (1,894)
Dividends declared on common stock (3) 1
------------------------------------------------------
Retained Earnings - end of year ($2) ($2,813)
======================================================
</TABLE>
<PAGE 260>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Eastern
Sierra East Maine El Dorado
Energy Energy Energy
Company Company Company
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $1,865 $9,314
-----------------------------------------------------
Total operating revenue 1,865 9,314
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685 386
Maintenance
Depreciation and decommissioning 204 218
Income taxes 228 $1 (1,117)
Property and other taxes
------------------------------------------------------
Total operating expenses 1,117 1 (513)
------------------------------------------------------
Operating income 748 (1) 9,827
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 4 9,194
Minority interest
Taxes on nonoperating income (40) (3,666)
Other nonoperating income - net 99 (12,877)
------------------------------------------------------
Total other income (deductions) - net 63 (7,349)
------------------------------------------------------
Income before interest and
other expenses 811 (1) 2,478
------------------------------------------------------
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 $811 ($1) $2,478
Retained Earnings - beginning of year (931) (5) 2,296
Dividends declared on common stock (1) 0 (6,618)
------------------------------------------------------
Retained Earnings - end of year ($121) ($6) ($1,844)
======================================================
</TABLE>
<PAGE 261>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Four Hanover
Counties Energy
EMP Gas Company
Inc. Company Consolidated
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $616 $1,519
-----------------------------------------------------
Total operating revenue 616 1,519
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685 685
Maintenance
Depreciation and decommissioning 126
Income taxes (425) $1 201
Property and other taxes
------------------------------------------------------
Total operating expenses 260 1 1,012
------------------------------------------------------
Operating income 356 (1) 507
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income (142) 16
Other nonoperating income - net 361 (40)
------------------------------------------------------
Total other income (deductions) - net 219 (24)
------------------------------------------------------
Income before interest and
other expenses 575 (1) 483
------------------------------------------------------
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 $575 ($1) $483
Retained Earnings - beginning of year (1,366) (3) (442)
Dividends declared on common stock 1 0 (16)
------------------------------------------------------
Retained Earnings - end of year ($790) ($4) $25
======================================================
</TABLE>
<PAGE 262>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Holtsville Indian Bay Jefferson
Energy Energy Energy
Company Company Company
============================================================================================================
(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 $13 $2 $63
Property and other taxes
------------------------------------------------------
Total operating expenses 13 2 63
------------------------------------------------------
Operating income (13) (2) (63)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income (64)
Other nonoperating income - net 162
------------------------------------------------------
Total other income (deductions) - net 98
------------------------------------------------------
Income before interest and
other expenses (13) (2) 35
------------------------------------------------------
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 ($13) ($2) $35
Retained Earnings - beginning of year (880) 43 (1,717)
Dividends declared on common stock (1) (0) 2
------------------------------------------------------
Retained Earnings - end of year ($894) $41 ($1,680)
======================================================
</TABLE>
<PAGE 263>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Kings
Canyon Kingspark Laguna
Energy Energy Energy
Company Company Company
============================================================================================================
(Inactive) (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 $1 $32 $(116)
Property and other taxes 0 0
------------------------------------------------------
Total operating expenses 1 32 (116)
------------------------------------------------------
Operating income (1) (32) 116
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and
other expenses (1) (32) 116
------------------------------------------------------
Interest on long-term debt 196
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred securities
------------------------------------------------------
Total interest and other expenses - net 196
------------------------------------------------------
NET INCOME ($1) ($32) ($80)
Retained Earnings - beginning of year (3) 277 (1,389)
Dividends declared on common stock 0 0 1
------------------------------------------------------
Retained Earnings - end of year ($4) $245 ($1,468)
======================================================
</TABLE>
<PAGE 264>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
La Jolla Lake Grove Lakeview
Energy Energy Energy
Company Company Company
============================================================================================================
(Inactive) (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 $1 $1
Property and other taxes
------------------------------------------------------
Total operating expenses 1 1
------------------------------------------------------
Operating income (1) (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and
other expenses (1) (1)
------------------------------------------------------
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 ($1) $0 ($1)
Retained Earnings - beginning of year (3) (507) (3)
Dividends declared on common stock 0 (0) 0
------------------------------------------------------
Retained Earnings - end of year ($4) ($507) ($4)
======================================================
</TABLE>
<PAGE 265>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Lehigh
River Longview Madera
Energy Cogeneration Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
-----------------------------------------------------
Total operating revenue
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $685
Maintenance
Depreciation and decommissioning
Income taxes (321) $1
Property and other taxes
------------------------------------------------------
Total operating expenses 364 1
------------------------------------------------------
Operating income (364) (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income 2
Other nonoperating income - net (5)
------------------------------------------------------
Total other income (deductions) - net (3)
------------------------------------------------------
Income before interest and
other expenses (367) (1)
------------------------------------------------------
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 ($367) ($1) $0
Retained Earnings - beginning of year (6,245) (3) (6)
Dividends declared on common stock 0 1 (0)
------------------------------------------------------
Retained Earnings - end of year ($6,612) ($3) ($6)
======================================================
</TABLE>
<PAGE 266>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
MEC
Madison International
Energy B.V. Mission
Company Consolidated Capital
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $297,201
Diversified operations $1,994 $2,667
-----------------------------------------------------
Total operating revenue 1,994 299,868
-----------------------------------------------------
Fuel 79,162
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 343 62,066
Maintenance
Depreciation and decommissioning 131 35,484
Income taxes 500 17,975 $(3,964)
Property and other taxes 3,662
------------------------------------------------------
Total operating expenses 974 198,349 (3,964)
------------------------------------------------------
Operating income 1,020 101,519 3,964
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 119 3,045
Minority interest (48,343)
Taxes on nonoperating income (47) (1,257) (4,218)
Other nonoperating income - net (1) 17,284 10,751
------------------------------------------------------
Total other income (deductions) - net 71 (29,271) 6,533
------------------------------------------------------
Income before interest and
other expenses 1,091 72,248 10,497
------------------------------------------------------
Interest on long-term debt 89,772
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (47,663)
Dividend on subsidiary preferred securities 10,095
------------------------------------------------------
Total interest and other expenses - net 42,109 10,095
------------------------------------------------------
NET INCOME $1,091 $30,139 $402
Retained Earnings - beginning of year 619 1,375 0
Dividends declared on common stock 1 0 (6)
------------------------------------------------------
Retained Earnings - end of year $1,711 $31,514 $396
======================================================
</TABLE>
<PAGE 267>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Eagle Energy Energy
Energy Canada Construction
Company Corporation Services, Inc.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations ($4,570)
-----------------------------------------------------
Total operating revenue 4,570
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 6
Maintenance
Depreciation and decommissioning 23
Income taxes (1,996)
Property and other taxes
------------------------------------------------------
Total operating expenses (1,967)
------------------------------------------------------
Operating income (2,603)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net (335)
------------------------------------------------------
Total other income (deductions) - net (335)
------------------------------------------------------
Income before interest and
other expenses (2,938)
------------------------------------------------------
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 ($2,938)
Retained Earnings - beginning of year 1,524
Dividends declared on common stock 0
------------------------------------------------------
Retained Earnings - end of year ($1,414)
======================================================
</TABLE>
<PAGE 268>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnigns
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Fuel Mission Energy
Company Energy Holdings
Consolidated Holdings,Inc. International,Inc.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $14,087 $0 $0
-----------------------------------------------------
Total operating revenue 14,087 0 0
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 1,596
Maintenance
Depreciation and decommissioning 5,188
Income taxes (1,462) $1
Property and other taxes
------------------------------------------------------
Total operating expenses 5,322 1
------------------------------------------------------
Operating income 8,765 (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 87
Minority interest
Taxes on nonoperating income (35)
Other nonoperating income - net 1
------------------------------------------------------
Total other income (deductions) - net 53
------------------------------------------------------
Income before interest and
other expenses 8,818 (1)
------------------------------------------------------
Interest on long-term debt 315
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred securities
------------------------------------------------------
Total interest and other expenses - net 315
------------------------------------------------------
NET INCOME $8,503 $0 ($1)
Retained Earnings - beginning of year (2,256) (6) 0
Dividends declared on common stock 30,570 5 0
------------------------------------------------------
Retained Earnings - end of year $36,817 ($1) ($1)
======================================================
</TABLE>
<PAGE 269>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Mission Mission Mission
Energy Energy Energy
Indonesia Mexico New York, Inc.
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $15
-----------------------------------------------------
Total operating revenue 15
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $5
Maintenance
Depreciation and decommissioning
Income taxes $1 (7) (1,099)
Property and other taxes
------------------------------------------------------
Total operating expenses 1 (2) (1,099)
------------------------------------------------------
Operating income (1) 2 1,114
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 7,728
Minority interest
Taxes on nonoperating income (3,561)
Other nonoperating income - net 1,348
------------------------------------------------------
Total other income (deductions) - net 5,515
------------------------------------------------------
Income before interest and
other expenses (1) 2 6,629
------------------------------------------------------
Interest on long-term debt 2,043
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred securities
------------------------------------------------------
Total interest and other expenses - net 2,043
------------------------------------------------------
NET INCOME ($1) $2 $4,586
Retained Earnings - beginning of year (3) (1,141) (372)
Dividends declared on common stock 0 0 (5,387)
------------------------------------------------------
Retained Earnings - end of year ($4) ($1,139) ($1,173)
======================================================
</TABLE>
<PAGE 270>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Edison
Mission Mission
Mission Operations Operations &
Energy de Mexico Maintenance
Westside, Inc. S.A. de C.V. Inc.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $29,648
-----------------------------------------------------
Total operating revenue 29,648
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 25,781
Maintenance
Depreciation and decommissioning 62
Income taxes $1 1,383
Property and other taxes 3
------------------------------------------------------
Total operating expenses 1 27,229
------------------------------------------------------
Operating income (1) 2,419
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 34
Minority interest
Taxes on nonoperating income (71)
Other nonoperating income - net 146
------------------------------------------------------
Total other income (deductions) - net 109
------------------------------------------------------
Income before interest and
other expenses (1) 2,528
------------------------------------------------------
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 ($1) $2,528
Retained Earnings - beginning of year (1) 4,210
Dividends declared on common stock 1 (3,640)
------------------------------------------------------
Retained Earnings - end of year ($1) $3,098
======================================================
</TABLE>
<PAGE 271>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Mission North
Triple Cycle Niguel Jackson
Systems Energy Energy
Company Company Company
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $8,232
-----------------------------------------------------
Total operating revenue 8,232
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685
Maintenance
Depreciation and decommissioning
Income taxes $1 2,563 $1
Property and other taxes
------------------------------------------------------
Total operating expenses 1 3,248 1
------------------------------------------------------
Operating income (1) 4,984 (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and
other expenses (1) 4,984 (1)
------------------------------------------------------
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 ($1) $4,984 ($1)
Retained Earnings - beginning of year 155 8,799 0
Dividends declared on common stock 1 (7,450) 0
------------------------------------------------------
Retained Earnings - end of year $155 $6,333 ($1)
======================================================
</TABLE>
<PAGE 272>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Northern
Sierra Ortega Panther
Energy Energy Timber
Company Company Company
============================================================================================================
<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 $(1)
Property and other taxes
------------------------------------------------------
Total operating expenses (1)
------------------------------------------------------
Operating income 1
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and
other expenses 1
------------------------------------------------------
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 $0 $0 $1
Retained Earnings - beginning of year 134 (4) 255
Dividends declared on common stock 0 (1) 0
------------------------------------------------------
Retained Earnings - end of year $134 ($5) $256
======================================================
</TABLE>
<PAGE 273>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Pleasant Prince
Valley George Paradise
Energy Energy Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $14 $3,462
-----------------------------------------------------
Total operating revenue 14 3,462
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 343 685
Maintenance
Depreciation and decommissioning 614
Income taxes (115) 771
Property and other taxes
------------------------------------------------------
Total operating expenses 228 2,070
------------------------------------------------------
Operating income (214) 1,392
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 116
Minority interest
Taxes on nonoperating income (51) (4)
Other nonoperating income - net 13 10
------------------------------------------------------
Total other income (deductions) - net 78 6
------------------------------------------------------
Income before interest and
other expenses (136) 1,398
------------------------------------------------------
Interest on long-term debt 23
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividend on subsidiary preferred securities
------------------------------------------------------
Total interest and other expenses - net 23
------------------------------------------------------
NET INCOME ($159) $1,398
Retained Earnings - beginning of year 432 780
Dividends declared on common stock 0 (2,672)
------------------------------------------------------
Retained Earnings - end of year $273 ($494)
======================================================
</TABLE>
<PAGE 274>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Quartz
Peak Rapidan Reeves Bay
Energy Energy Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $2,460 $41
-----------------------------------------------------
Total operating revenue 2,460 41
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 757 343
Maintenance
Depreciation and decommissioning 61 4
Income taxes 595 (124)
Property and other taxes
------------------------------------------------------
Total operating expenses 1,413 223
------------------------------------------------------
Operating income 1,047 (182)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 151 2
Minority interest
Taxes on nonoperating income (59) (49)
Other nonoperating income - net 123
------------------------------------------------------
Total other income (deductions) - net 92 76
------------------------------------------------------
Income before interest and
other expenses 1,139 (106)
------------------------------------------------------
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 $1,139 ($106) $0
Retained Earnings - beginning of year 561 (160) (669)
Dividends declared on common stock (1,596) 1 (0)
------------------------------------------------------
Retained Earnings - end of year $104 ($265) ($669)
======================================================
</TABLE>
<PAGE 275>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Rio
Ridgecrest Escondido Riverport
Energy Energy Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
-----------------------------------------------------
Total operating revenue
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $(800)
Maintenance
Depreciation and decommissioning
Income taxes 585 $3
Property and other taxes
------------------------------------------------------
Total operating expenses (215) 3
------------------------------------------------------
Operating income 215 (3)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 10,179
Minority interest
Taxes on nonoperating income (5,284)
Other nonoperating income - net 3,290
------------------------------------------------------
Total other income (deductions) - net 8,185
------------------------------------------------------
Income before interest and
other expenses 8,400 (3)
------------------------------------------------------
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 $0 $8,400 ($3)
Retained Earnings - beginning of year (6) (19,894) 79
Dividends declared on common stock (0) 2 1
------------------------------------------------------
Retained Earnings - end of year ($6) ($11,492) $77
======================================================
</TABLE>
<PAGE 276>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
San Mission
San Felipe Gabriel Energy
Energy Energy Wales
Company Company Company
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $5,641 ($356)
-----------------------------------------------------
Total operating revenue 5,641 (356)
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685
Maintenance
Depreciation and decommissioning
Income taxes 1,724 (137) $1
Property and other taxes
------------------------------------------------------
Total operating expenses 2,409 (137) 1
------------------------------------------------------
Operating income 3,232 (219) (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and
other expenses 3,232 (219) (1)
------------------------------------------------------
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 $3,232 ($219) ($1)
Retained Earnings - beginning of year 4,660 (3) (3)
Dividends declared on common stock (5,600) 0 0
------------------------------------------------------
Retained Earnings - end of year $2,292 ($222) ($4)
======================================================
</TABLE>
<PAGE 277>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
San Joaquin San Juan San Pedro
Energy Energy Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $12,899 $10,123
-----------------------------------------------------
Total operating revenue 12,899 10,123
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 742 739
Maintenance
Depreciation and decommissioning 30 90
Income taxes 4,760 3,484
Property and other taxes
------------------------------------------------------
Total operating expenses 5,532 4,313
------------------------------------------------------
Operating income 7,367 5,810
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income (20)
Other nonoperating income - net 52
------------------------------------------------------
Total other income (deductions) - net 32
------------------------------------------------------
Income before interest and
other expenses 7,399 5,810
------------------------------------------------------
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 $7,399 $5,810 $0
Retained Earnings - beginning of year 5,816 (97) (6)
Dividends declared on common stock (5,439) (7,130) (0)
------------------------------------------------------
Retained Earnings - end of year $7,776 ($1,417) ($6)
======================================================
</TABLE>
<PAGE 278>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Santa Ana Santa Clara Silverado
Energy Energy Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $1,550
-----------------------------------------------------
Total operating revenue 1,550
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 698
Maintenance
Depreciation and decommissioning 50
Income taxes 328
Property and other taxes
------------------------------------------------------
Total operating expenses 1,076
------------------------------------------------------
Operating income 474
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net (1)
------------------------------------------------------
Total other income (deductions) - net (1)
------------------------------------------------------
Income before interest and
other expenses 473
------------------------------------------------------
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 $0 $0 $473
Retained Earnings - beginning of year (6) (4) 540
Dividends declared on common stock (1) (0) 1
------------------------------------------------------
Retained Earnings - end of year ($7) ($4) $1,014
======================================================
</TABLE>
<PAGE 279>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Silver
Springs Sonoma South Coast
Energy Geothermal Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $299 $3,593
-----------------------------------------------------
Total operating revenue 299 3,593
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685 697
Maintenance
Depreciation and decommissioning 4
Income taxes $1 (182) 1,208
Property and other taxes
------------------------------------------------------
Total operating expenses 1 503 1,909
------------------------------------------------------
Operating income (1) (204) 1,684
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 301
Minority interest
Taxes on nonoperating income (265) 220
Other nonoperating income - net 375 (561)
------------------------------------------------------
Total other income (deductions) - net 411 (341)
------------------------------------------------------
Income before interest and
other expenses (1) 207 1,343
------------------------------------------------------
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 ($1) $207 $1,343
Retained Earnings - beginning of year (3) (535) 254
Dividends declared on common stock 0 0 (75)
------------------------------------------------------
Retained Earnings - end of year ($4) ($328) $1,522
======================================================
</TABLE>
<PAGE 280>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Southern
Sierra Thorofare Viejo
Energy Energy Energy
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $23,948 $474
-----------------------------------------------------
Total operating revenue 23,948 474
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 756 701
Maintenance
Depreciation and decommissioning 58 65
Income taxes 9,136 (99)
Property and other taxes
------------------------------------------------------
Total operating expenses 9,950 667
------------------------------------------------------
Operating income 13,998 (193)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income 6
Other nonoperating income - net (14)
------------------------------------------------------
Total other income (deductions) - net (8)
------------------------------------------------------
Income before interest and
other expenses 13,990 (193)
------------------------------------------------------
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 $13,990 ($193)
Retained Earnings - beginning of year 12,504 137
Dividends declared on common stock (7,153) (1)
------------------------------------------------------
Retained Earnings - end of year $19,341 ($57)
======================================================
</TABLE>
<PAGE 281>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Western
Vista Sierra
Energy Energy
Company Company
============================================================================================================
<S> <C> <C>
Electric utility revenue $(1)
Diversified operations 25,630
-----------------------------------------------------
Total operating revenue 25,629
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 799
Maintenance
Depreciation and decommissioning 37
Income taxes $(1) 9,847
Property and other taxes
------------------------------------------------------
Total operating expenses (1) 10,683
------------------------------------------------------
Operating income 1 14,946
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income (9) 2
Other nonoperating income - net 23 (5)
------------------------------------------------------
Total other income (deductions) - net 14 (3)
------------------------------------------------------
Income before interest and
other expenses 15 14,943
------------------------------------------------------
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 $15 $14,943
Retained Earnings - beginning of year 509 (980)
Dividends declared on common stock 2 (11,898)
------------------------------------------------------
Retained Earnings - end of year $526 $2,065
======================================================
</TABLE>
<PAGE 282>
<PAGE>
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(in thousands)
<TABLE>
<CAPTION>
Edison
Edison Mission
Mission Consolidating Energy
Energy Adjustments Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $297,200
Diversified operations ($45,094) $1,042 170,146
-----------------------------------------------------
Total operating revenue (45,094) 1,042 467,346
-----------------------------------------------------
Fuel 79,162
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 29,368 (1,726) 135,403
Maintenance
Depreciation and decommissioning 2,207 1 45,589
Income taxes (53,994) 10,517 17,984
Property and other taxes 210 (1) 3,874
------------------------------------------------------
Total operating expenses (22,209) 8,791 282,012
------------------------------------------------------
Operating income (22,885) (7,749) 185,334
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1,401 (11,196) 23,299
Minority interest (48,343)
Taxes on nonoperating income (7,591) 14,010 (13,016)
Other nonoperating income - net (10,328) 3 9,879
------------------------------------------------------
Total other income (deductions) - net (16,518) 2,817 (28,181)
------------------------------------------------------
Income before interest and
other expenses (39,403) (4,932) 157,153
------------------------------------------------------
Interest on long-term debt 43,897 141,404
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (10,691) (58,354)
Dividend on subsidiary preferred securities 10,095
------------------------------------------------------
Total interest and other expenses - net 33,206 93,145
------------------------------------------------------
NET INCOME ($72,609) ($4,932) $64,008
Retained Earnings - beginning of year 249,118 (22,599) 256,521
Dividends declared on common stock 141,592 (76,951) (0)
------------------------------------------------------
Retained Earnings - end of year $318,101 ($104,482) $320,529
======================================================
</TABLE>
<PAGE 283>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<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: 50% 50% 50% 50% 50%
Nature/Purpose of Business: (a) (b) (c) (d) (e)
Ownership Interest in (000):
Assets $87,365 $21,516 $0 $0 $855
Revenue $13,491 $6,697 $0 $0 $138
Net Income (Loss) ($2,113) $719 $0 $0 $135
</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 power production facilities.
(d) To own and operate power production facilities.
(e) To own a limited partnership interest in the Cogen Technologies NJ
Venture.
<PAGE 284>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<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 $359 $33,874 $359 $131,034 $44,017
Revenue $0 $19,923 $0 $84,945 $26,544
Net Income (Loss) $0 $12,904 $0 $32,172 $3,647
</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 285>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Chesapeake
Centerport Bay Clayville Conejo Coronado
Energy Energy Energy Energy Energy
Company Company Company Company Company
==============================================================================
Name of Entity: Riverhead Delaware Oconee Del Ranch Oconee
Cogeneration Clean Energy, Andy Hoch, Energy,
I, L.P. Energy L.P. L.P. L.P.
Project
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 50% 50%
Nature/Purpose of Business: (k) (l) (m) (n) (o)
Ownership Interest in (000):
Assets $244 $0 $0 $46,694 $0
Revenue $0 $0 $0 $18,182 $0
Net Income (Loss) ($11) $0 $0 $8,023 $0
</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.
<PAGE 286>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Crescent Eastern
Valley Del Mar Devereaux Sierra El Dorado
Energy Energy Energy Energy Energy
Company Company Company Company Company
==============================================================================
Name of Entity: Beowawe Mid-Set Auburndale Saguaro Auburndale
Geothermal Cogeneration Power Power Power
Power Company Partners, L.P. Company, L.P. Partners, L.P
Company
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 49% 50% 1%
Nature/Purpose of Business: (p) (q) (r) (s) (t)
Ownership Interest in (000):
Assets $11,891 $13,564 $88,133 $56,009 $1,799
Revenue $6,006 $7,663 $23,102 $22,575 $471
Net Income (Loss) $2,526 $1,493 ($1,415) $2,408 ($29)
</TABLE>
(p) To own and operate the 15 MW geothermal facility at the Beowawe Known
Geothermal Resource Area of Eureka and Lander County, Nevada.
(q) To own and operate the 38 MW cogeneration facility located in Kern
County, California.
(r) To own and operate a 150 MW power production facility located in Florida.
(s) To own and operate the 90 MW cogeneration facility located in Henderson,
Nevada.
(t) To own and operate a 150 MW power production facility located in Florida.
PAGE 287
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<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: (u) (v) (w) (x) (y)
Ownership Interest in (000):
Assets $69,424 $6,339 $64,451 $1,294 $216
Revenue $23,771 ($30) $12,103 $0 $0
Net Income (Loss) $1,843 ($315) $1,311 $0 $0
</TABLE>
(u) To own and operate geothermal facilities (53 MW) located near Holtville in
Imperial Valley, California.
(v) To own and operate a 13 MW geothermal facility located near Holtville in
Imperial Valley, California.
(w) To own a 340 MW power production facility located in Chesapeake, Virginia.
(x) To own and operate power production facilities.
(y) To own and operate power production facilities.
<PAGE 288>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
(2)
Lehigh TEVCO/
Kingspark Lakewiew River Mission Madera
Energy Energy Energy Assets Energy
Company Company Company Partnership Company
==============================================================================
Name of Entity: Smithtown Georgia TEVCO/ Continental Brookhaven
Cogeneration, Peaker, Mission Energy Cogeneration,
L.P. L.P. Assets Associates L.P.
Partnership L.P.
(2)
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 22.5% 50%
Nature/Purpose of Business: (z) (ab) (ac) (ad) (ae)
Ownership Interest in (000):
Assets $0 $0 $0 $0 $1,294
Revenue $0 $0 $0 $0 $0
Net Income (Loss) $0 $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.
(ae) To own and operate power production facilities.
<PAGE 289>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Mission Mission Mission Mission
Madison Energy Energy Energy Energy
Energy Canada Canada Oil & Gas New York,
Company Corp. Corp. Company Inc.
==============================================================================
Name of Entity: Gordonsville B.C. Star Mission Four Star Brooklyn
Energy, Partners Interface Oil & Gas Navy Yard
L.P. Partnership Company Cogeneration
Partners,
L.P.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 49% 50% 50% 46% 50%
Nature/Purpose of Business: (af) (ah) (ai) (aj) (ak)
Ownership Interest in (000):
Assets $109,138 $55,999 $338 $228,319 $176,304
Revenue $18,971 $13,729 $122 $69,991 $18
Net Income (Loss) $2,013 ($1,075) $29 $11,467 $0
</TABLE>
(af) To own and operate a 240 MW cogeneration facility located in Gordonsville,
Virginia.
(ah) To hold, acquire and operate oil, gas and mineral producing properties and
leases and facilities.
(ai) To own and operate power production facilities.
(aj) To own an interest in the common stock of a domestic oil and gas
exploration and production company.
(ak) To own and operate the 286 MW power production facility located near the
Brooklyn Bridge in Brooklyn, New York.
PAGE 290
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Mission Northern Pleasant
Triple Cycle Niguel Sierra Panther Valley
Systems Energy Energy Timber Energy
Company Company Company Company Company
==============================================================================
Name of Entity: Triple Cycle Elmore, Sobel American American
Partnership L.P. Cogeneration Kiln Bituminous
Company Partners, Power
L.P. Partners,
L.P.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 2% .5%
Nature/Purpose of Business: (al) (am) (an) (ao) (aq)
Ownership Interest in (000):
Assets $0 $49,872 $0 $0 $882
Revenue $0 $18,527 $0 $0 $136
Net Income (Loss) $0 $8,088 $0 $0 ($21)
</TABLE>
(al) To own 25% interest in a partnership that has rights to a proprietary
technology.
(am) To own and operate the 38 MW geothermal facility located near Niland in
Imperial Valley, California.
(an) Currently is inactive.
(ao) Currently inactive.
(aq) To own and operate the 80 MW cogeneration facility located in Grant
Town, West Virginia.
<PAGE 291>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Mission/
Eagle Paradise
Energy Energy
Company Company
==============================================================================
Name of Entity: Crown Vista
Energy Energy,
L.P. L.P.
<S> <C> <C>
Ownership Interest: 2% 50%
Nature/Purpose of Business: (ag) (ap)
Ownership Interest in (000):
Assets $0 $0
Revenue $0 $0
Net Income (Loss) $0 $0
</TABLE>
(ag) To own and operate power production facilities.
(ap) To own and operate power production facilities.
<PAGE 292>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Prince Prince (3) Quartz
George George Hopewell Peak Rapidan
Energy Energy Cogeneration, Energy Energy
Company Company Inc. Company Company
==============================================================================
Name of Entity: Hopewell Hopewell Hopewell Nevada Gordonsville
Cogeneration Cogeneration Cogeneration Sun-Peak Energy,
Limited Inc. Limited L.P. L.P.
Partnership (3) Partnership
<S> <C> <C> <C> <C> <C>
Ownership Interest: 24.75% 25% 1% 50% 1%
Nature/Purpose of Business: (ar) (as) (at) (au) (av)
Ownership Interest in (000):
Assets $44,972 $454 $1,817 $34,010 $2,227
Revenue $14,042 $142 $567 $6,993 $387
Net Income (Loss) $3,533 $36 $143 $2,353 $41
</TABLE>
(ar) To own and operate a 356 MW cogeneration facility located in Chester
County, Virginia.
(as) To own and operate a 356 MW cogeneration facility located in Chester
County, Virginia.
(at) To own and operate a 356 MW cogeneration facility located in Chester
County, Virginia.
(au) To own 50% of the 210 MW independent power production plant located near
Las Vegas, Nevada.
(av) To own and operate a 240 MW cogeneration facility located in Gordonsville,
Virginia.
PAGE 293
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Reeves Bay Ridgecrest Rio Escondido Riverport San Felipe
Energy Energy Energy Energy Energy
Company Company Company Company Company
==============================================================================
Name of Entity: North Shore Riverhead Energia Riverhead Leathers
Energy, Cogeneration del Norte, Cogeneration L.P.
L.P. I, L.P. S.A. de C.V. II, L.P.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 49% 50% 50%
Nature/Purpose of Business: (aw) (ax) (ay) (az) (ba)
Ownership Interest in (000):
Assets $0 $244 $0 $316 $56,605
Revenue $0 $0 $0 $0 $18,260
Net Income (Loss) $0 ($11) $0 $0 $6,175
</TABLE>
(aw) To own and operate power production facilities.
(ax) To own and operate power production facilities.
(ay) To own and operate power production facilities in Mexico.
(az) To own and operate power production facilities.
(ba) To own and operate the 38 MW geothermal facility located near Niland in
Imperial Valley, California.
<PAGE 294>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
San Joaquin San Juan San Pedro Santa Ana
Energy Energy Energy Energy
Company Company Company Company
==============================================================================
Name of Entity: Midway-Sunset March Point Riverhead Riverhead
Cogeneration Cogeneration Cogeneration Cogeneration
Company Company II, L.P. III, L.P.
L.P.
<S> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 50%
Nature/Purpose of Business: (bb) (bc) (bd) (be)
Ownership Interest in (000):
Assets $63,708 $71,471 $316 $216
Revenue $42,745 $36,314 $0 $0
Net Income (Loss) $13,023 $9,973 $0 $0
</TABLE>
(bb) To own and operate the 225 MW cogeneration facility located near Taft in
Kern County, California.
(bc) To own and operate the 140 MW cogeneration facility located in
Anacortes, Washington.
(bd) To own and operate power production facilities.
(be) To own and operate power production facilities.
<PAGE 295>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Silver
Santa Clara Silverado Springs Sonoma South Coast
Energy Energy Energy Geothermal Energy
Company Company Company Company Company
==============================================================================
Name of Entity: North Shore Coalinga Georgia Geothermal Harbor
Energy, L.P. Cogeneration Peaker, Energy Cogeneration
Company L.P. Partners, Company
Ltd.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 5% 30%
Nature/Purpose of Business: (bf) (bg) (bh) (bi) (bj)
Ownership Interest in (000):
Assets $0 $20,739 $0 $3,801 $15,762
Revenue $0 $8,516 $0 $1,084 $12,247
Net Income (Loss) $0 $1,576 $0 $277 $3,669
</TABLE>
(bf) To own and operate power production facilities.
(bg) To own and operate the 38 MW cogeneration facility located in Fresno
County, California.
(bh) To own and operate power production facilities.
(bi) To own and operate the 20 MW geothermal facility located in Cloverdale,
California.
(bj) To own and operate the 80 MW cogeneration facility at the Wilmington Oil
Field located in Los Angeles, California.
<PAGE 296>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Southern Southern Western
Sierra Sierra Viejo Vista Sierra
Energy Gas Energy Energy Energy
Company Company Company Company Company
==============================================================================
Name of Entity: Kern River TM Star Sargent Vista Sycamore
Cogeneration Fuel Canyon Energy, L.P Cogeneration
Company Company Cogeneration Company
Company
<S> <C> <C> <C> <C> <C>
Ownership Interest: 50% 50% 50% 50% 50%
Nature/Purpose of Business: (bk) (bl) (bn) (bo) (bp)
Ownership Interest in (000):
Assets $67,012 $993 $21,292 $0 $81,446
Revenue $67,042 $9,308 $6,842 $0 $71,571
Net Income (Loss) $23,508 $1,505 $620 $0 $25,502
</TABLE>
(bk) To own and operate the 300 MW Kern River ("Omar Hill") cogeneration
facility at Texaco's Kern River Oil Field located near Bakersfield,
California.
(bl) To own an 50% interest in a domestic oil and gas exploration and
production company.
(bn) To own and operate the 38 MW cogeneration facility located in Monterey
County, California.
(bo) To own and operate power production facilities.
(bp) To own and operate the 300 MW cogeneration facility located at Texaco's
Kern River Oil Field near Bakersfield, California.
<PAGE 297>
<PAGE>
Edison Mission Energy and Subsidiaries
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Thorofare Edison
Energy Mission
Company Energy
==============================================================================
Name of Entity: Crown N/A
Energy
L.P.
<S> <C> <C>
Ownership Interest: 48% N/A
Nature/Purpose of Business: (bm) (bq)
Ownership Interest in (000):
Assets $0 $4,749
Revenue $0 $0
Net Income (Loss) $0 $0
</TABLE>
(bm) To own and operate power production facilities.
(bq) 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 298>
<PAGE>
Hanover Energy Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Chicahominy Hanover
River Energy Consolidating
Engy. Co. Company Adjustments
============================================================================================================
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
----------------------------------------------------
Total utility plant
----------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $10,819 $7,801 ($7,801)
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 10,819 7,801 (7,801)
----------------------------------------------------
Cash and equivalents 71
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 57
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
----------------------------------------------------
Total current assets 128
----------------------------------------------------
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 $10,947 $7,801 ($7,801)
====================================================
</TABLE>
PAGE 299
<PAGE>
Hanover Energy Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Hanover
Energy
Company
Consolidated
============================================================================================================
ASSETS
============================================================================================================
<S> <C>
Utility plant, at original cost
Less-accumulated provision for depreciation
and decommissioning
----------------------------------------------------
Construction work in progress
Nuclear fuel, at amortized
----------------------------------------------------
Total utility plant
----------------------------------------------------
Nonutility property - net of accumulated
provision for depreciation
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $10,819
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 10,819
----------------------------------------------------
Cash and equivalents 71
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 57
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
----------------------------------------------------
Total current assets 128
----------------------------------------------------
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 $10,947
====================================================
</TABLE>
<PAGE 300>
<PAGE>
Hanover Energy Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Chicahominy Hanover
River Energy Consolidating
Energy Corp. Company Adjustments
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $8,460 $7,759 ($8,445)
Retained earnings (660) 41 644
-----------------------------------------------------
7,800 7,800 (7,801)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
-----------------------------------------------------
Total capitalization 7,800 7,800 (7,801)
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (330) 1
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
-----------------------------------------------------
Total current liabilities (330) 1
-----------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits 3,477
Customer advances and other deferred credits
-----------------------------------------------------
Total deferred credits 3,477
-----------------------------------------------------
Minority interest
-----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $10,947 $7,801 ($7,801)
=====================================================
</TABLE>
<PAGE 301>
<PAGE>
Hanover Energy Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Hanover
Energy
Company
Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $7,774
Retained earnings 25
-----------------------------------------------------
7,799
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
-----------------------------------------------------
Total capitalization 7,799
-----------------------------------------------------
Other long-term liabilities
-----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (329)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
-----------------------------------------------------
Total current liabilities (329)
-----------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits 3,477
Customer advances and other deferred credits
-----------------------------------------------------
Total deferred credits 3,477
-----------------------------------------------------
Minority interest
-----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $10,947
=====================================================
</TABLE>
<PAGE 302>
<PAGE>
Hanover Energy Company
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Chicahominy Hanover
River Energy Consolidating
Energy Corp. Company Adjustments
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $1,519
-----------------------------------------------------
Total operating revenue 1,519
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685
Maintenance
Depreciation and decommissioning 126
Income taxes 200 $1
Property and other taxes
-----------------------------------------------------
Total operating expenses 1,011 1
-----------------------------------------------------
Operating income 508 (1)
-----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interst income
Minority interest
Taxes on nonoperating income 16
Other nonoperating income - net (40)
-----------------------------------------------------
Total other income (deductions) - net (24)
-----------------------------------------------------
Income before interest and other expenses 484 (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 $484 ($1)
Retained Earnings - beginning of year (442) (442) 442
Dividends declared on common stock (702) 484 202
-----------------------------------------------------
Retained Earnings - end of year ($660) $41 644
=====================================================
</TABLE>
<PAGE 303>
<PAGE>
Hanover Energy Company
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Hanover
Energy
Company
Consolidated
============================================================================================================
<S> <C>
Electric utility revenue
Diversified operations $1,519
-----------------------------------------------------
Total operating revenue 1,519
-----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 685
Maintenance
Depreciation and decommissioning 126
Income taxes 201
Property and other taxes
-----------------------------------------------------
Total operating expenses 1,012
-----------------------------------------------------
Operating income 507
-----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interst income
Minority interest
Taxes on nonoperating income 16
Other nonoperating income - net (40)
-----------------------------------------------------
Total other income (deductions) - net (24)
-----------------------------------------------------
Income before interest and other expenses 483
-----------------------------------------------------
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 $483
Retained Earnings - beginning of year (442)
Dividends declared on common stock (16)
-----------------------------------------------------
Retained Earnings - end of year $25
=====================================================
</TABLE>
<PAGE 304>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy
Oil & Gas Petroleum
Company Company
============================================================================================================
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 $110,523
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 110,523
------------------------------------------------------
Cash and equivalents 163
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 21
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 184
------------------------------------------------------
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 $110,707
======================================================
</TABLE>
<PAGE 305>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern Mission
Pocono Sierra Energy
Fuels Gas Fuel
Company Company Company
============================================================================================================
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $187 $121,278
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 187 121,278
------------------------------------------------------
Cash and equivalents
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets $403
------------------------------------------------------
Total current assets 403
------------------------------------------------------
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 $403 $187 $121,278
======================================================
</TABLE>
<PAGE 306>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1995
(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 ($4,995) $226,993
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments (4,995) 226,993
------------------------------------------------------
Cash and equivalents 163
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 21
Fuel inventory
Materials and supplies, at average cost
Regulatory balancing accounts - net
Prepayments and other current assets 403
------------------------------------------------------
Total current assets 587
------------------------------------------------------
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 ($4,995) $227,580
======================================================
</TABLE>
<PAGE 307>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy
Oil & Gas Petroleum
Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $119,290
Retained earnings 1,988 ($4)
------------------------------------------------------
121,278 (4)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 121,278 (4)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (10,440) (1)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 1,617
------------------------------------------------------
Total current liabilities (8,823) (1)
------------------------------------------------------
Accumulated deferred income taxes - net (1,748) 5
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (1,748) 5
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $110,707 $0
======================================================
</TABLE>
<PAGE 308>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern Mission
Pocono Sierra Energy
Fuels Gas Fuel
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES (Inactive)
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $1,637 $90,572
Retained earnings 541 $1,005 32,414
------------------------------------------------------
2,178 1,005 122,986
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization 2,178 1,005 122,986
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (2,336) (796) (1,634)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (2,336) (796) (1,634)
------------------------------------------------------
Accumulated deferred income taxes - net 561 (22) (74)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits 561 (22) (74)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $403 $187 $121,278
======================================================
</TABLE>
<PAGE 309>
<PAGE>
Mission Energy Fuel Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Consolidating Fuel Company
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital ($5,868) $205,631
Retained earnings 873 36,817
------------------------------------------------------
(4,995) 242,448
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Preferred Stock of Limited Partnership
Long-term debt
------------------------------------------------------
Total capitalization (4,995) 242,448
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (15,207)
Accrued taxes
Accrued interest
Dividends payable
Accumulated deferred income taxes - net
Deferred unbilled revenue and other 1,617
------------------------------------------------------
Total current liabilities (13,590)
------------------------------------------------------
Accumulated deferred income taxes - net (1,278)
Accumulated deferred investment tax credits
Customer advances and other deferred credits
------------------------------------------------------
Total deferred credits (1,278)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES ($4,995) $227,580
======================================================
</TABLE>
<PAGE 310>
<PAGE>
Mission Energy Fuel Company
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
Energy Energy
Oil & Gas Petroleum
Company Company
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $14,483
------------------------------------------------------
Total operating revenue 14,483
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 910
Maintenance
Depreciation and decommissioning 5,188
Income taxes 2,763 $1
Property and other taxes
------------------------------------------------------
Total operating expenses 8,861 1
------------------------------------------------------
Operating income 5,622 (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other nonoperating income - net 1
------------------------------------------------------
Total other income (deductions) - net 1
------------------------------------------------------
Income before interest and other expenses 5,623 (1)
------------------------------------------------------
Interest on long-term debt 315
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 315
------------------------------------------------------
NET INCOME $5,308 ($1)
Retained Earnings - beginning of year (1,702) (3)
Dividends declared on common stock (1,618) 0
-----------------------------------------------------
Retained Earnings - end of year $1,988 ($4)
======================================================
</TABLE>
<PAGE 311>
<PAGE>
Mission Energy Fuel Company
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Southern Mission
Pocono Sierra Energy
Fuels Gas Fuel
Company Company Company
============================================================================================================
(Inactive)
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $1,512
------------------------------------------------------
Total operating revenue 1,512
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses
Maintenance
Depreciation and decommissioning
Income taxes $3 279 $(10)
Property and other taxes
------------------------------------------------------
Total operating expenses 3 279 (10)
------------------------------------------------------
Operating income (3) 1,233 10
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 87
Minority interest
Taxes on nonoperatiang income (35)
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 52
------------------------------------------------------
Income before interest and other expenses 49 1,233 10
------------------------------------------------------
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 $49 $1,233 $10
Retained Earnings - beginning of year 490 457 (901)
Dividends declared on common stock 2 (685) 33,305
-----------------------------------------------------
Retained Earnings - end of year $541 $1,005 $32,414
======================================================
</TABLE>
<PAGE 312>
<PAGE>
Mission Energy Fuel Company
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Consolidating Fuel Company
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations ($1.908) $14,087
------------------------------------------------------
Total operating revenue (1,908) 14,087
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 686 1,596
Maintenance
Depreciation and decommissioning 5,188
Income taxes (4,498) (1,462)
Property and other taxes
------------------------------------------------------
Total operating expenses (3,812) 5,322
------------------------------------------------------
Operating income 1,904 8,765
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 87
Minority interest
Taxes on nonoperating income (35)
Other nonoperating income - net 1
------------------------------------------------------
Total other income (deductions) - net 53
------------------------------------------------------
Income before interest and other expenses 1,904 8,818
------------------------------------------------------
Interest on long-term debt 315
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 315
------------------------------------------------------
NET INCOME $1,904 $8,503
Retained Earnings - beginning of year (597) (2,256)
Dividends declared on common stock (434) 30,570
-----------------------------------------------------
Retained Earnings - end of year $873 $36,817
======================================================
</TABLE>
<PAGE 313>
PAGE
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia
Power Latrobe Loy Yang
Development Power Holdings
Company Pty. Ltd. Pty. Ltd.
Consolidated Consolidated 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 $1,444,125
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,956 $6,325
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments 5,956 1,444,125 6,325
-----------------------------------------------------
Cash and equivalents 2,731 21
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 11,093
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 445
-----------------------------------------------------
Total current assets 14,269 21
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 6 46,849
-----------------------------------------------------
Total deferred charges 6 46,849
-----------------------------------------------------
TOTAL ASSETS 5,962 1,505,243 6,346
=====================================================
</TABLE>
<PAGE 314>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
Columbia Esenyurt IES
B.V. B.V. B.V.
============================================================================================================
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 $1,289
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments 1,289
-----------------------------------------------------
Cash and equivalents $25 373 $25
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 177
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------
Total current assets 25 550 25
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2 2,366 2
-----------------------------------------------------
Total deferred charges 2 2,366 2
-----------------------------------------------------
TOTAL ASSETS 27 4,205 27
=====================================================
</TABLE>
<PAGE 315>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
India Indo Coal Indonesia
B.V. B.V. B.V.
============================================================================================================
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 $18,243 $32,682
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments 18,243 32,682
-----------------------------------------------------
Cash and equivalents $25 56 179
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 25 56 179
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 6 179 324
-----------------------------------------------------
Total deferred charges 6 179 324
-----------------------------------------------------
TOTAL ASSETS 31 18,478 33,185
=====================================================
</TABLE>
<PAGE 316>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC
International Laguna MEC
Holdings Power Mission
B.V. B.V. B.V.
============================================================================================================
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 $658
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments 658
-----------------------------------------------------
Cash and equivalents 24 $23 $25
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 24 23 25
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (2) 1 2
-----------------------------------------------------
Total deferred charges (2) 1 2
-----------------------------------------------------
TOTAL ASSETS 680 24 27
=====================================================
</TABLE>
<PAGE 317> <PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC MEC San
Perth Priolo Pascual
B.V. B.V. B.V.
============================================================================================================
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 $69,639
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $11,067
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments 69.639 11,067
-----------------------------------------------------
Cash and equivalents 23 2,123
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 763
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
-----------------------------------------------------
Total current assets 23 2,886
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3,329 91 $1
-----------------------------------------------------
Total deferred charges 3,329 91 1
-----------------------------------------------------
TOTAL ASSETS 72,991 14,044 1
=====================================================
</TABLE>
<PAGE 318> <PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
MEC MEC Energy
Turkey Wales Asia
B.V. B.V. Pte 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 $1,042,430 $573
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments 1,042,430 573
-----------------------------------------------------
Cash and equivalents $25 64,298 68
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 69,490 680
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1,243 222
-----------------------------------------------------
Total current assets 25 135,031 970
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2 324,743 361
-----------------------------------------------------
Total deferred charges 2 324,743 361
-----------------------------------------------------
TOTAL ASSETS 27 1,502,204 1,904
=====================================================
</TABLE>
<PAGE 319>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Mission Mission
Energy Energy Energy
Company Holdings Italia
(UK) Ltd. Pty. Ltd. s.r.l.
============================================================================================================
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 $181,578 $166
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 13,219 $5
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments 194,797 166 5
-----------------------------------------------------
Cash and equivalents 20,202 408 28
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 6,157 634 5
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,959
-----------------------------------------------------
Total current assets 29,318 1,042 33
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 21,979 599 7
-----------------------------------------------------
Total deferred charges 21,979 599 7
-----------------------------------------------------
TOTAL ASSETS 246,094 1,807 45
=====================================================
</TABLE>
<PAGE 320>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Traralgon MEC
Pride Hold Power International
Ltd. Pty. Ltd. B.V.
============================================================================================================
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 $157,896 $2,459
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $130,173 416,395
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments 157,896 130,173 418,854
-----------------------------------------------------
Cash and equivalents 14,591 2,964
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 6,769
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,790
-----------------------------------------------------
Total current assets 24,150 2,964
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 21,500 364
-----------------------------------------------------
Total deferred charges 21,500 364
-----------------------------------------------------
TOTAL ASSETS 203,546 130,173 422,182
=====================================================
</TABLE>
<PAGE 321>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
International
Consolidating B.V.
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 $(157,892) $2,742,263
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (997,299) (362,576)
Investments in leveraged leases
Other investments
-----------------------------------------------------
Total other property and investments (1,155,191) 2,379,687
-----------------------------------------------------
Cash and equivalents (14,554) 93,682
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (6,781) 88,988
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (2,760) 4,899
-----------------------------------------------------
Total current assets (24,095) 187,569
-----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (26,772) 395,939
-----------------------------------------------------
Total deferred charges (26,772) 395,939
-----------------------------------------------------
TOTAL ASSETS (1,206,058) 2,963,195
=====================================================
</TABLE>
<PAGE 322>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia
Power Latrobe Loy Yang
Development Power Holdings
Company Pty. Ltd. Pty. Ltd.
Consolidated Consolidated Consoldiated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $1
Retained earnings $215 10,438 $5,871
----------------------------------------------------
215 10,439 5,871
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 718,005 2,851
----------------------------------------------------
Total capitalization 215 728,444 8,722
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 5,668 11,224 (1)
Accrued taxes 79
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 5,747 11,224 (1)
----------------------------------------------------
Accumulated deferred income taxes - net 3,789 103
Accumulated deferred investment tax credits
Customer advances and other deferred credits 1,377 (121)
----------------------------------------------------
Total deferred credits 5,166 (18)
----------------------------------------------------
Minority interest 760,409 (2,357)
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 5,962 1,505,243 6,346
====================================================
</TABLE>
<PAGE 323>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
Columbia Esenyurt IES
B.V. B.V. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $26 $182 $25
Additional Paid in Capital
Retained earnings (8)
----------------------------------------------------
26 174 25
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 3,508
----------------------------------------------------
Total capitalization 26 3,682 25
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2 542 2
Accrued taxes (4) (0)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 2 538 2
----------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits (1) (28)
----------------------------------------------------
Total deferred credits (1) (28)
----------------------------------------------------
Minority interest 13
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 27 4,205 27
====================================================
</TABLE>
PAGE 324
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
India Indo Coal Indonesia
B.V. B.V. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $23 $25 $21
Additional Paid in Capital 18,700 33,108
Retained earnings (5) (153) 32
----------------------------------------------------
18 18,572 33,161
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------
Total capitalization 18 18,572 33,161
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 16 4 23
Accrued taxes (3) (83) 10
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 13 (79) 33
----------------------------------------------------
Accumulated deferred income taxes - net (9)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (15)
----------------------------------------------------
Total deferred credits (15) (9)
----------------------------------------------------
Minority interest
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 31 18,478 33,185
====================================================
</TABLE>
<PAGE 325>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC
International Laguna MEC
Holdings Power Mission
B.V. B.V. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $22 $23 $26
Additiona Paid in Capital 662
Retained earnings (12) (7) (0)
----------------------------------------------------
672 16 26
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------
Total capitalization 672 16 26
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 18 12 2
Accrued taxes (9) (4)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 9 8 2
----------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits (1) (1)
----------------------------------------------------
Total deferred credits (1) (1)
----------------------------------------------------
Minority interest
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 680 24 27
====================================================
</TABLE>
<PAGE 326>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC MEC San
Perth Priolo Pascual
B.V. B.V. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $23 $21 $23
Additional Paid in Capital 13,522
Retained earnings (7) (48) (6)
----------------------------------------------------
16 13,495 17
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 67,255
----------------------------------------------------
Total capitalization 67,271 13,495 17
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 5,724 576 (13)
Accrued taxes (4) (27) (3)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 5,720 549 (16)
----------------------------------------------------
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 72,991 14,044 1
====================================================
</TABLE>
PAGE 327
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
MEC MEC Energy
Turkey Wales Asia
B.V. B.V. Pte Ltd.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $26 $26 $215
Additional Paid in Capital 454,966
Retained earnings 11,471 16
----------------------------------------------------
26 466,463 231
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 621,400
----------------------------------------------------
Total capitalization 26 1,087,863 231
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2 61,668 1,606
Accrued taxes 9,297 45
Accrued interest 3,755
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 2 74,720 1,651
----------------------------------------------------
Accumulated deferred income taxes - net 311,943
Accumulated deferred investment tax credits
Customer advances and other deferred credits (1) 27,678 22
----------------------------------------------------
Total deferred credits (1) 339,621 22
----------------------------------------------------
Minority interest
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 27 1,502,204 1,904
====================================================
</TABLE>
<PAGE 328>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Mission Mission
Energy Energy Energy
Company Holdings Italia
(UK) Ltd. Pty. Ltd. s.r.l.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $22,750 $4
Additional Paid in Capital 3,108
Retained earnings 5,231 $51 1
----------------------------------------------------
31,089 51 5
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 161,271
----------------------------------------------------
Total capitalization 192,360 51 5
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 17,806 44
Short-term debt
Accounts payable 16,962 1,601 28
Accrued taxes 366 3
Accrued interest 6,192
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 41,326 1,645 31
----------------------------------------------------
Accumulated deferred income taxes - net 9,335 19
Accumulated deferred investment tax credits
Customer advances and other deferred credits 737 92 9
----------------------------------------------------
Total deferred credits 10,072 111 9
----------------------------------------------------
Minority interest 2,336
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 246,094 1,807 45
====================================================
</TABLE>
<PAGE 329>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Traralgon MEC
Pride Hold Power International
Ltd. Pty.Ltd. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $22,861
Additional Paid in Capital $153 386,152
Retained earnings 10,616 $(3,152) 3,567
----------------------------------------------------
10,769 (3,152) 412,580
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 139,904 130,173
----------------------------------------------------
Total capitalization 150,673 127,021 412,580
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 23,014 8,159
Short-term debt
Accounts payable 6,004 (1) 1,172
Accrued taxes 342 399
Accrued interest 6,192
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 35,552 (1) 9,730
----------------------------------------------------
Accumulated deferred income taxes - net 9,302 3,167 (128)
Accumulated deferred investment tax credits
Customer advances and other deferred credits 5,778 (14)
----------------------------------------------------
Total deferred credits 15,080 3,153 (128)
----------------------------------------------------
Minority interest 2,241
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 203,546 130,173 422,182
====================================================
</TABLE>
<PAGE 330>
<PAGE>
MEC International B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
International
Consolidating B.V.
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $(23,436) $22,886
Additional Paid In Capital (524,246) 386,126
Retained earnings (12,597) 31,514
----------------------------------------------------
(560,279) 440,526
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (455,583) 1,388,784
----------------------------------------------------
Total capitalization (1,015,862) 1,829,310
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock (23,014) 26,009
Short-term debt
Accounts payable (34,164) 78,677
Accrued taxes (346) 10,058
Accrued interest (6,192) 9,947
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other 28,437 28,437
----------------------------------------------------
Total current liabilities (35,279) 153,128
----------------------------------------------------
Accumulated deferred income taxes - net (9,150) 328,371
Accumulated deferred investment tax credits
Customer advances and other deferred credits (13,279) 22,232
----------------------------------------------------
Total deferred credits (22,429) 350,603
----------------------------------------------------
Minority interest (132,488) 630,154
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES (1,206,058) 2,963,195
====================================================
</TABLE>
<PAGE 331>
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia
Power Latrobe Loy Yang
Development Power Holdings
Pty. Ltd. Pty. Ltd. Pty. Ltd.
Consolidated Consolidated Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
----------------------------------------------------
Total operating revenue 165,660
----------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $8 20,223 $(3)
Maintenance
Depreciation and decommissioning 22,902
Income taxes (3) 9,642 (1)
Property and other taxes
----------------------------------------------------
Total operating expenses 5 82,483 (4)
----------------------------------------------------
Operating income (5) 83,177 4
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 302 141
Minority interest (47,347)
Taxes on nonoperating income (82) (51)
Other - net
----------------------------------------------------
Total other income (deductions) - net 220 (47,257)
----------------------------------------------------
Income before interest and other expenses 215 35,920 4
----------------------------------------------------
Interest on long-term debt 66,830
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (47,663)
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 19,167
----------------------------------------------------
NET INCOME 215 16,753 4
Retained Earnings - beginning of year (6,315) 5,867
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 215 10,438 5,871
====================================================
</TABLE>
<PAGE 332>
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
Columbia Esenyurt IES
B.V. B.V. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
----------------------------------------------------
Total operating revenue
----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $12
Maintenance
Depreciation and decommissioning 0
Income taxes (4)
Property and other taxes
----------------------------------------------------
Total operating expenses 8
----------------------------------------------------
Operating income (8)
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other - net
----------------------------------------------------
Total other income (deductions) - net
----------------------------------------------------
Income before interest and other expenses (8)
----------------------------------------------------
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)
Retained Earnings - beginning of year
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (8)
====================================================
</TABLE>
PAGE 333
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
India Indo Coal Indonesia
B.V. B.V. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
----------------------------------------------------
Total operating revenue
----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $10 $2 $22
Maintenance
Depreciation and decommissioning 264 55
Income taxes (4) (93) (27)
Property and other taxes
----------------------------------------------------
Total operating expenses 6 173 50
----------------------------------------------------
Operating income (6) (173) (50)
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 15 107
Minority interest
Taxes on nonoperating income (5) (37)
Other - net 1 10
----------------------------------------------------
Total other income (deductions) - net 1 20 70
----------------------------------------------------
Income before interest and other expenses (5) (153) 20
----------------------------------------------------
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) (153) 20
Retained Earnings - beginning of year 12
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (5) (153) 32
====================================================
</TABLE>
<PAGE 334>
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC
International Laguna MEC
Holdings Power Mission
B.V. B.V. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
----------------------------------------------------
Total operating revenue
----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $19 $11
Maintenance
Depreciation and decommissioning (1)
Income taxes (8) (4)
Property and other taxes
----------------------------------------------------
Total operating expenses 10 7
----------------------------------------------------
Operating income (10) (7)
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1
Minority interest
Taxes on nonoperating income
Other - net (1)
----------------------------------------------------
Total other income (deductions) - net
----------------------------------------------------
Income before interest and other expenses (10) (7)
----------------------------------------------------
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 (10) (7)
Retained Earnings - beginning of year (2)
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (12) (7)
====================================================
</TABLE>
<PAGE 335>
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC MEC San
Perth Priolo Pascual
B.V. B.V. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
----------------------------------------------------
Total operating revenue
----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $10 $23 $9
Maintenance
Depreciation and decommissioning 1 17
Income taxes (4) (14) (3)
Property and other taxes
----------------------------------------------------
Total operating expenses 7 26 6
----------------------------------------------------
Operating income (7) (26) (6)
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2
Minority interest
Taxes on nonoperating income (1)
Other - net (31)
----------------------------------------------------
Total other income (deductions) - net (30)
----------------------------------------------------
Income before interest and other expenses (7) (56) (6)
----------------------------------------------------
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) (56) (6)
Retained Earnings - beginning of year 8
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (7) (48) (6)
====================================================
</TABLE>
PAGE 336
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
MEC MEC Energy
Turkey Wales Asia
B.V. B.V. Pte Ltd.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $40,853
Diversified operations $5,091
----------------------------------------------------
Total operating revenue 40,853 5,091
----------------------------------------------------
Fuel 7,699
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 5,922 4,127
Maintenance
Depreciation and decommissioning 1,775 121
Income taxes 6,427 322
Property and other taxes 1,262
----------------------------------------------------
Total operating expenses 23,085 4,570
----------------------------------------------------
Operating income 17,768 521
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 256
Minority interest
Taxes on nonoperating income (84)
Other - net
----------------------------------------------------
Total other income (deductions) - net 172
----------------------------------------------------
Income before interest and other expenses 17,940 521
----------------------------------------------------
Interest on long-term debt 6,469
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 6,469
----------------------------------------------------
NET INCOME 11,471 521
Retained Earnings - beginning of year (505)
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 11,471 16
====================================================
</TABLE>
<PAGE 337>
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Mission Mission
Energy Energy Energy
Company Holdings Italia
(UK) Ltd. Pty. Ltd. s.r.l.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $90,688
Diversified operations 13,233 $2,038 $69
----------------------------------------------------
Total operating revenue 103,921 2,038 69
----------------------------------------------------
Fuel 41,693
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 32,016 1,626 65
Maintenance
Depreciation and decommissioning 9,662 284
Income taxes 1,383 (240) 3
Property and other taxes 2,396
----------------------------------------------------
Total operating expenses 87,150 1,670 68
----------------------------------------------------
Operating income 16,772 368 1
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2,053 96
Minority interest (996)
Taxes on nonoperating income (677) (35)
Other - net 1,342
----------------------------------------------------
Total other income (deductions) - net 1,722 61
----------------------------------------------------
Income before interest and other expenses 18,493 429 1
----------------------------------------------------
Interest on long-term debt 17,991
Other interest expense 14
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 17,991 14
----------------------------------------------------
NET INCOME 502 415 1
Retained Earnings - beginning of year 4,729 (364)
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 5,231 51 1
====================================================
</TABLE>
<PAGE 338>
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Traralgon MEC
Pride Hold Power International
Ltd. Pty. Ltd. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $90,688
Diversified operations 2,006 $(516)
----------------------------------------------------
Total operating revenue 92,694 (516)
----------------------------------------------------
Fuel 41,746
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 20,087 211
Maintenance
Depreciation and decommissioning 7,752 395
Income taxes 1,224 $4,379 (675)
Property and other taxes 1,918
----------------------------------------------------
Total operating expenses 72,727 4,379 (69)
----------------------------------------------------
Operating income 19,967 (4,379) (447)
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1,846 2,445
Minority interest
Taxes on nonoperating income (609) (856)
Other - net 1,384 99
----------------------------------------------------
Total other income (deductions) - net 2,621 1,688
----------------------------------------------------
Income before interest and other expenses 22,588 (4,379) 1,241
----------------------------------------------------
Interest on long-term debt 17,618 745
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 17,618 745
----------------------------------------------------
NET INCOME 4,970 (4,379) 496
Retained Earnings - beginning of year 8,605 1,227 3,071
Dividends declared on common stock (2,959)
----------------------------------------------------
Retained Earnings - end of year 10,616 (3,152) 3,567
====================================================
</TABLE>
<PAGE 339>
<PAGE>
MEC International B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
International
Consolidating B.V.
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue $(90,688) $297,201
Diversified operations (19,254) 2,667
----------------------------------------------------
Total operating revenue (109,942) 299,868
----------------------------------------------------
Fuel (41,692) 79,162
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses (22,334) 62,066
Maintenance
Depreciation and decommissioning (7,743) 35,484
Income taxes (4,325) 17,975
Property and other taxes (1,914) 3,662
----------------------------------------------------
Total operating expenses (78,008) 198,349
----------------------------------------------------
Operating income (31,934) 101,519
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (4,219) 3,045
Minority interest (48,343)
Taxes on nonoperating income 1,180 (1,257)
Other - net 14,480 17,284
----------------------------------------------------
Total other income (deductions) - net 11,441 (29,271)
----------------------------------------------------
Income before interest and other expenses (20,493) 72,248
----------------------------------------------------
Interest on long-term debt (19,881) 89,772
Other interest expense (14)
Allowance for borrowed funds used during
construction
Capitalized interest (47,663)
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net (19,895) 42,109
----------------------------------------------------
NET INCOME (598) 30,139
Retained Earnings - beginning of year (14,958) 1,375
Dividends declared on common stock 2,959
----------------------------------------------------
Retained Earnings - end of year (12,597) 31,514
====================================================
</TABLE>
<PAGE 340>
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Asia
China Ningbo Power
Holdings Holdings Development
Company Company Company
============================================================================================================
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 $5,956
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 5,956
----------------------------------------------------
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 $2 $2 2
----------------------------------------------------
Total deferred charges 2 2 2
----------------------------------------------------
TOTAL ASSETS 2 2 5,958
====================================================
</TABLE>
<PAGE 341>
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia Power
Development
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,956
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 5,956
----------------------------------------------------
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 6
----------------------------------------------------
Total deferred charges 6
----------------------------------------------------
TOTAL ASSETS 5,962
====================================================
</TABLE>
<PAGE 342>
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Asia
China Ningbo Power
Holdings Holdings Development
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $(2) $(2) $219
----------------------------------------------------
(2) (2) 219
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 0 0
----------------------------------------------------
Total capitalization (2) (2) 219
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 5 5 5,658
Accrued taxes (1) (1) 81
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 4 4 5,739
----------------------------------------------------
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 2 2 5,958
====================================================
</TABLE>
<PAGE 343>
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia Power
Development
Consolidating Company
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $215
----------------------------------------------------
215
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
----------------------------------------------------
Total capitalization 215
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 5,668
Accrued taxes 79
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 5,747
----------------------------------------------------
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 5,962
====================================================
</TABLE>
<PAGE 344>
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Asia
China Ningbo Power
Holdings Holdings Development
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
----------------------------------------------------
Total operating revenue
----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 $3 $2
Maintenance
Depreciation and decommissioning
Income taxes (1) (1) (1)
Property and other taxes
----------------------------------------------------
Total operating expenses 2 2 1
----------------------------------------------------
Operating income (2) (2) (1)
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 302
Minority interest
Taxes on nonoperating income (82)
Other - net
----------------------------------------------------
Total other income (deductions) - net 220
----------------------------------------------------
Income before interest and other expenses (2) (2) 219
----------------------------------------------------
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) (2) 219
Retained Earnings - beginning of year
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (2) (2) 219
====================================================
</TABLE>
<PAGE 345>
<PAGE>
MEC International B.V.
Asia Power Development Company
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia Power
Development
Consolidating Company
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations
----------------------------------------------------
Total operating revenue
----------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $8
Maintenance
Depreciation and decommissioning
Income taxes (3)
Property and other taxes
----------------------------------------------------
Total operating expenses 5
----------------------------------------------------
Operating income (5)
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 302
Minority interest
Taxes on nonoperating income (82)
Other - net
----------------------------------------------------
Total other income (deductions) - net 220
----------------------------------------------------
Income before interest and other expenses 215
----------------------------------------------------
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 215
Retained Earnings - beginning of year
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 215
====================================================
</TABLE>
<PAGE 346>
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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 $11,628 $1,297,724
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $273,862
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 273,862 11,628 1,297,724
----------------------------------------------------
Cash and equivalents 1,877 462 392
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (517) 11,610
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 351 94
----------------------------------------------------
Total current assets 1,877 296 12,096
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 175,883 5,754
----------------------------------------------------
Total deferred charges 175,883 5,754
----------------------------------------------------
TOTAL ASSETS 275,739 187,807 1,315,574
====================================================
</TABLE>
<PAGE 347>
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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 $134,773 $1,444,125
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $145,842 (419,704)
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 145,842 (284,931) 1,444,125
----------------------------------------------------
Cash and equivalents 2,731
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 11,093
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 445
----------------------------------------------------
Total current assets 14,269
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (134,788) 46,849
----------------------------------------------------
Total deferred charges (134,788) 46,849
----------------------------------------------------
TOTAL ASSETS 145,842 (419,719) 1,505,243
====================================================
</TABLE>
<PAGE 348>
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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
Additional Paid in Capital $285,003 $(273,147) $1,079,030
Retained earnings 74 (117,478) 234,809
----------------------------------------------------
285,077 (390,625) 1,313,839
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 568,920
----------------------------------------------------
Total capitalization 285,077 178,295 1,313,839
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (3,180) 3,588 10,817
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities (3,180) 3,588 10,817
----------------------------------------------------
Accumulated deferred income taxes - net 0
Accumulated deferred investment tax credits
Customer advances and other deferred credits (6,158) 5,924 (9,082)
----------------------------------------------------
Total deferred credits (6,158) 5,924 (9,082)
----------------------------------------------------
Minority interest
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 275,739 187,807 1,315,574
====================================================
</TABLE>
<PAGE 349>
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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
Additional Paid in Capital $(1,090,885) $1
Retained earnings $(3,807) (103,160) 10,438
----------------------------------------------------
(3,807) (1,194,045) 10,439
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 145,842 3,243 718,005
----------------------------------------------------
Total capitalization 142,035 (1,190,802) 728,444
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (1) 11,224
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities (0) (1) 11,224
----------------------------------------------------
Accumulated deferred income taxes - net 3,804 (15) 3,789
Accumulated deferred investment tax credits
Customer advances and other deferred credits 3 10,690 1,377
----------------------------------------------------
Total deferred credits 3,807 10,675 5,166
----------------------------------------------------
Minority interest 760,409 760,409
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 145,842 (419,719) 1,505,243
====================================================
</TABLE>
<PAGE 350>
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
----------------------------------------------------
Total operating revenue 165,660
----------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1,439 18,668
Maintenance
Depreciation and decommissioning 12,832 10,070
Income taxes
Property and other taxes
----------------------------------------------------
Total operating expenses 14,271 58,454
----------------------------------------------------
Operating income (14,271) 107,206
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income $116 25
Minority interest 1
Taxes on nonoperating income (42)
Other - net
----------------------------------------------------
Total other income (deductions) - net 74 25 1
----------------------------------------------------
Income before interest and other expenses 74 (14,246) 107,207
----------------------------------------------------
Interest on long-term debt 19,167
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 19,167
----------------------------------------------------
NET INCOME 74 (33,413) 107,207
Retained Earnings - beginning of year (84,065) 127,602
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 74 (117,478) 234,809
====================================================
</TABLE>
<PAGE 351>
<PAGE>
MEC International B.V.
Latrobe Power Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Latrobe
Latrobe Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
----------------------------------------------------
Total operating revenue 165,660
----------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $116 20,223
Maintenance
Depreciation and decommissioning 22,902
Income taxes $5,162 4,480 9,642
Property and other taxes
----------------------------------------------------
Total operating expenses 5,162 4,596 82,483
----------------------------------------------------
Operating income (5,162) (4,596) 83,177
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 141
Minority interest (47,348) (47,347)
Taxes on nonoperating income (9) (51)
Other - net
----------------------------------------------------
Total other income (deductions) - net (47,357) (47,257)
----------------------------------------------------
Income before interest and other expenses (5,162) (51,953) 35,920
----------------------------------------------------
Interest on long-term debt 47,663 66,830
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (47,663) (47,663)
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 19,167
----------------------------------------------------
NET INCOME (5,162) (51,953) 16,753
Retained Earnings - beginning of year 1,355 (51,207) (6,315)
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (3,807) (103,160) 10,438
====================================================
</TABLE>
<PAGE 352>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Latrobe Mission Mission Energy
Power Energy Ventures
Pty. Ltd. Australia Australia
Consolidated Pty. 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 $1,444,125
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $3,537 $3,752
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 1,444,125 3,537 3,752
----------------------------------------------------
Cash and equivalents 2,731 21
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 11,093
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 445
----------------------------------------------------
Total current assets 14,269 21
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 46,849
----------------------------------------------------
Total deferred charges 46,849
----------------------------------------------------
TOTAL ASSETS 1,505,243 3,558 3,752
====================================================
</TABLE>
<PAGE 353>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Loy Yang
Traralgon 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 $(1,444,125)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $130,173 (131,137) $6,325
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 130,173 (1,575,262) 6,325
----------------------------------------------------
Cash and equivalents (2,731) 21
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (11,093)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (445)
----------------------------------------------------
Total current assets (14,269) 21
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (46,849)
----------------------------------------------------
Total deferred charges (46,849)
----------------------------------------------------
TOTAL ASSETS 130,173 (1,636,380) 6,346
====================================================
</TABLE>
<PAGE 354>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Latrobe Mission Mission Energy
Power Energy Ventures
Pty. Ltd. Australia Australia
Consolidated Pty. Ltd. Pty. Ltd.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paiad in Capital
Retained earnings $10,437 $6,258 $195
----------------------------------------------------
10,437 6,258 195
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 718,005 3,752
----------------------------------------------------
Total capitalization 728,442 6,258 3,947
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 11,226
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities 11,226
----------------------------------------------------
Accumulated deferred income taxes - net 3,789 196 91
Accumulated deferred investment tax credits 0
Customer advances and other deferred credits 1,377 (2,896) (286)
----------------------------------------------------
Total deferred credits 5,166 (2,700) (195)
----------------------------------------------------
Minority interest 760,409
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 1,505,243 3,558 3,752
====================================================
</TABLE>
PAGE 355
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Loy Yang
Traralgon Holdings
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $(3,152) $(7,867) $5,871
----------------------------------------------------
(3,152) (7,867) 5,871
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 130,173 (849,079) 2,851
----------------------------------------------------
Total capitalization 127,021 (856,946) 8,722
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (1) (11,226) (1)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities (1) (11,226) (1)
----------------------------------------------------
Accumulated deferred income taxes - net 3,167 (7,140) 103
Accumulated deferred investment tax credits
Customer advances and other deferred credits (14) 1,698 (121)
----------------------------------------------------
Total deferred credits 3,153 (5,442) (18)
----------------------------------------------------
Minority interest (762,766) (2,357)
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 130,173 (1,636,380) 6,346
====================================================
</TABLE>
<PAGE 356>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Energy
Latrobe Energy Ventures
Power Australia Australia
Pty. Ltd. Pty. Ltd. Pty. Ltd.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
----------------------------------------------------
Total operating revenue 165,660
----------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 20,223 $(264) $(263)
Maintenance
Depreciation and decommissioning 22,902
Income taxes 9,642 67 94
Property and other taxes
----------------------------------------------------
Total operating expenses 82,483 (197) (169)
----------------------------------------------------
Operating income 83,177 197 169
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 141 4 0
Minority interest
Taxes on nonoperating income (51) (1) 0
Other net (47,348) 0
----------------------------------------------------
Total other income (deductions) - net (47,258) 3 0
----------------------------------------------------
Income before interest and other expenses 35,919 200 169
----------------------------------------------------
Interest on long-term debt 66,830
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (47,663)
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 19,167
----------------------------------------------------
NET INCOME 16,752 200 169
Retained Earnings - beginning of year (6,315) 6,058 26
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 10,437 6,258 195
====================================================
</TABLE>
<PAGE 357>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Loy Yang
Traralgon Holdings
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $(165,660)
Diversified operations
----------------------------------------------------
Total operating revenue (165,660)
----------------------------------------------------
Fuel (29,716)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses (19,699) $(3)
Maintenance
Depreciation and decommissioning (22,902)
Income taxes $4,379 (14,183) (1)
Property and other taxes
----------------------------------------------------
Total operating expenses 4,379 (86,500) (4)
----------------------------------------------------
Operating income (4,379) (79,160) 4
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (145)
Minority interest
Taxes on nonoperating income 52
Other - net 47,348
----------------------------------------------------
Total other income (deductions) - net 47,255
----------------------------------------------------
Income before interest and other expenses (4,379) (31,905) 4
----------------------------------------------------
Interest on long-term debt (66,830)
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest 47,663
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net (19,167)
----------------------------------------------------
NET INCOME (4,379) (12,738) 4
Retained Earnings - beginning of year 1,227 4,871 5,867
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (3,152) (7,867) 5,871
====================================================
</TABLE>
<PAGE 358>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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 $11,628 $1,297,724
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $273,862
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 273,862 11,628 1,297,724
----------------------------------------------------
Cash and equivalents 1,877 462 392
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (517) 11,610
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 351 94
----------------------------------------------------
Total current assets 1,877 296 12,096
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 175,883 5,754
----------------------------------------------------
Total deferred charges 175,883 5,754
----------------------------------------------------
TOTAL ASSETS 275,739 187,807 1,315,574
====================================================
</TABLE>
<PAGE 359>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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 $134,773 $1,444,125
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $145,842 (419,704)
Investments in leveraged leases
Other investments
----------------------------------------------------
Total other property and investments 145,842 (284,931) 1,444,125
----------------------------------------------------
Cash and equivalents 2,731
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 11,093
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 445
----------------------------------------------------
Total current assets 14,269
----------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (134,788) 46,849
----------------------------------------------------
Total deferred charges (134,788) 46,849
----------------------------------------------------
TOTAL ASSETS 145,842 (419,719) 1,505,243
====================================================
</TABLE>
<PAGE 360>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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
Additional Paid in Capital $285,002 $(273,147) $1,079,031
Retained earnings 74 (117,478) 234,808
----------------------------------------------------
285,076 (390,625) 1,313,839
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 568,920
----------------------------------------------------
Total capitalization 285,076 178,295 1,313,839
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (3,179) 3,588 10,817
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities (3,179) 3,588 10,817
----------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits (6,158) 5,924 (9,082)
----------------------------------------------------
Total deferred credits (6,158) 5,924 (9,082)
----------------------------------------------------
Minority interest
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 275,739 187,807 1,315,574
====================================================
</TABLE>
<PAGE 361>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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
Additional Paid in Capital $(1,090,887)
Retained earnings $(3,807) (103,160) $10,437
----------------------------------------------------
(3,807) (1,194,047) 10,437
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 145,842 3,243 718,005
----------------------------------------------------
Total capitalization 142,035 (1,190,804) 728,442
----------------------------------------------------
Other long-term liabilities
----------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 1 11,226
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
----------------------------------------------------
Total current liabilities (0) 1 11,226
----------------------------------------------------
Accumulated deferred income taxes - net 3,804 (15) 3,789
Accumulated deferred investment tax credits
Customer advances and other deferred credits 3 10,690 1,377
----------------------------------------------------
Total deferred credits 3,807 10,675 5,166
----------------------------------------------------
Minority interest 760,409 760,409
----------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 145,842 (419,719) 1,505,243
====================================================
</TABLE>
<PAGE 362>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
----------------------------------------------------
Total operating revenue 165,660
----------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1,439 18,668
Maintenance
Depreciation and decommissioning 12,832 10,070
Income taxes
Property and other taxes
----------------------------------------------------
Total operating expenses 14,271 58,454
----------------------------------------------------
Operating income (14,271) 107,206
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income $116 25
Minority interest
Taxes on nonoperating income (42)
Other - net
----------------------------------------------------
Total other income (deductions) - net 74 25
----------------------------------------------------
Income before interest and other expenses 74 (14,246) 107,206
----------------------------------------------------
Interest on long-term debt 19,167
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 19,167
----------------------------------------------------
NET INCOME 74 (33,413) 107,206
Retained Earnings - beginning of year (84,065) 127,602
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 74 (117,478) 234,808
====================================================
</TABLE>
<PAGE 363>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Latrobe Power Pty. Ltd.
Consolidating Income Statement
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Latrobe
Latrobe Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
----------------------------------------------------
Total operating revenue 165,660
----------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $116 20,223
Maintenance
Depreciation and decommissioning 22,902
Income taxes $5,162 4,480 9,642
Property and other taxes
----------------------------------------------------
Total operating expenses 5,162 4,596 82,483
----------------------------------------------------
Operating income (5,162) (4,596) 83,177
----------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 141
Minority interest
Taxes on nonoperating income (9) (51)
Other - net (47,348) (47,348)
----------------------------------------------------
Total other income (deductions) - net (47,357) (47,258)
----------------------------------------------------
Income before interest and other expenses (5,162) (51,953) 35,919
----------------------------------------------------
Interest on long-term debt 47,663 66,830
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest (47,663) (47,663)
Dividends on subsidiary preferred
securities
----------------------------------------------------
Total interest and other expenses - net 19,167
----------------------------------------------------
NET INCOME (5,162) (51,953) 16,752
Retained Earnings - beginning of year 1,355 (51,207) (6,315)
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (3,807) (103,160) 10,437
====================================================
</TABLE>
<PAGE 364>
PAGE
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Edison Mission Energy Australia Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission
Energy Latrobe
Australia Power Loy Yang B
Ltd. 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 $11,628 $1,297,724
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $3,537
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 3,537 11,628 1,297,724
------------------------------------------------------
Cash and equivalents 21 462 392
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (517) 11,610
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 351 94
------------------------------------------------------
Total current assets 21 296 12,096
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 175,883 5,754
------------------------------------------------------
Total deferred charges 175,883 5,754
------------------------------------------------------
TOTAL ASSETS 3,558 187,807 1,315,574
======================================================
</TABLE>
<PAGE 365>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Edison Mission Energy Australia Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission
Energy
Australia
Consolidating Ltd.
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 $(1,309,352)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $3,537
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments (1,309,352) 3,537
------------------------------------------------------
Cash and equivalents (854) 21
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (11,093)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (445)
------------------------------------------------------
Total current assets (12,392) 21
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (181,637)
------------------------------------------------------
Total deferred charges (181,637)
------------------------------------------------------
TOTAL ASSETS (1,503,381) 3,558
======================================================
</TABLE>
<PAGE 366>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Edison Mission Energy Australia Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission
Energy Latrobe
Australia Power Loy Yang B
Ltd. Partnership Joint Venture
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $(273,147) $1,079,031
Retained earnings $6,258 (117,478) 234,808
------------------------------------------------------
6,258 (390,625) 1,313,839
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 568,920
------------------------------------------------------
Total capitalization 6,258 178,295 1,313,839
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3,588 10,817
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 3,588 10,817
------------------------------------------------------
Accumulated deferred income taxes - net 196
Accumulated deferred investment tax credits
Customer advances and other deferred credits (2,896) 5,924 (9,082)
------------------------------------------------------
Total deferred credits (2,700) 5,924 (9,082)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 3,558 187,807 1,315,574
======================================================
</TABLE>
<PAGE 367>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Edison Mission Energy Australia Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission
Energy
Australia
Consolidating Ltd.
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $(805,884)
Retained earnings (117,330) $6,258
------------------------------------------------------
(923,214) 6,258
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (568,920)
------------------------------------------------------
Total capitalization (1,492,134) 6,258
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (14,405)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (14,405)
------------------------------------------------------
Accumulated deferred income taxes - net 196
Accumulated deferred investment tax credits
Customer advances and other deferred credits 3,158 (2,896)
------------------------------------------------------
Total deferred credits 3,158 (2,700)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES (1,503,381) 3,558
======================================================
</TABLE>
<PAGE 368>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Edison Mission Energy Australia Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission
Energy Latrobe
Australia Power Loy Yang B
Ltd. Partnership Joint Venture
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
------------------------------------------------------
Total operating revenue 165,660
------------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $(263) $1,439 18,668
Maintenance
Depreciation and decommissioning 12,832 10,070
Income taxes 67
Property and other taxes
------------------------------------------------------
Total operating expenses (196) 14,271 58,454
------------------------------------------------------
Operating income 196 (14,271) 107,206
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 4 25
Minority interest
Taxes on nonoperating income (1)
Other - net
------------------------------------------------------
Total other income (deductions) - net 3 25
------------------------------------------------------
Income before interest and other expenses 199 (14,246) 107,206
------------------------------------------------------
Interest on long-term debt 19,167
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 19,167
------------------------------------------------------
NET INCOME 199 (33,413) 107,206
Retained Earnings - beginning of year 6,059 (84,065) 127,602
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 6,258 (117,478) 234,808
======================================================
</TABLE>
<PAGE 369>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Edison Mission Energy Australia Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission
Energy
Australia
Consolidating Ltd.
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue $(165,660)
Diversified operations
------------------------------------------------------
Total operating revenue (165,660)
------------------------------------------------------
Fuel (29,716)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses (20,108) $(264)
Maintenance
Depreciation and decommissioning (22,902)
Income taxes 67
Property and other taxes
------------------------------------------------------
Total operating expenses (72,726) (197)
------------------------------------------------------
Operating income (92,934) 197
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (25) 4
Minority interest
Taxes on nonoperating income (1)
Other - net
------------------------------------------------------
Total other income (deductions) - net (25) 3
------------------------------------------------------
Income before interest and other expenses (92,959) 200
------------------------------------------------------
Interest on long-term debt (19,167)
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net (19,167)
------------------------------------------------------
NET INCOME (73,792) 200
Retained Earnings - beginning of year (43,538) 6,058
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (117,330) 6,258
======================================================
</TABLE>
<PAGE 370>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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 $11,628 $1,297,724
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $273,862
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 273,862 11,628 1,297,724
------------------------------------------------------
Cash and equivalents 1,877 462 392
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (517) 11,610
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 351 94
------------------------------------------------------
Total current assets 1,877 296 12,096
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 175,883 5,754
------------------------------------------------------
Total deferred charges 175,883 5,754
------------------------------------------------------
TOTAL ASSETS 275,739 187,807 1,315,574
======================================================
</TABLE>
<PAGE 371>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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 $(1,309,352)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (270,110) $3,752
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments (1,579,462) 3,752
------------------------------------------------------
Cash and equivalents (2,731)
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (11,093)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (445)
------------------------------------------------------
Total current assets (14,269)
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (181,637)
------------------------------------------------------
Total deferred charges (181,637)
------------------------------------------------------
TOTAL ASSETS (1,775,368) 3,752
======================================================
</TABLE>
<PAGE 372>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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
Additional Paid in Capital $285,003 $(273,147) $1,079,031
Retained earnings 116 (117,478) 234,808
------------------------------------------------------
285,119 (390,625) 1,313,839
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 568,920
------------------------------------------------------
Total capitalization 285,119 178,295 1,313,839
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (3,181) 3,588 10,817
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (3,181) 3,588 10,817
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits (6,199) 5,924 (9,082)
------------------------------------------------------
Total deferred credits (6,199) 5,924 (9,082)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 275,739 187,807 1,315,574
======================================================
</TABLE>
<PAGE 373>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Ventures
Consolidating Australia
Adjustments Pty. Ltd.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital $(1,090,887)
Retained earnings (117,251) $195
------------------------------------------------------
(1,208,138) 195
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (565,168) 3,752
------------------------------------------------------
Total capitalization (1,773,306) 3,947
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (11,224)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (11,224)
------------------------------------------------------
Accumulated deferred income taxes - net 91 91
Accumulated deferred investment tax credits
Customer advances and other deferred credits 9,071 (286)
------------------------------------------------------
Total deferred credits 9,162 (195)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES (1,775,368) 3,752
======================================================
</TABLE>
<PAGE 374>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
------------------------------------------------------
Total operating revenue 165,660
------------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1,439 18,668
Maintenance
Depreciation and decommissioning 12,832 10,070
Income taxes
Property and other taxes
------------------------------------------------------
Total operating expenses 14,271 58,454
------------------------------------------------------
Operating income (14,271) 107,206
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income $116 25
Minority interest
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 116 25
------------------------------------------------------
Income before interest and other expenses 116 (14,246) 107,206
------------------------------------------------------
Interest on long-term debt 19,167
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 19,167
------------------------------------------------------
NET INCOME 116 (33,413) 107,206
Retained Earnings - beginning of year (84,065) 127,602
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year 116 (117,478) 234,808
======================================================
</TABLE>
<PAGE 375>
<PAGE>
MEC International B.V.
Loy Yang Holdings Pty. Ltd.
Mission Energy Ventures Australia Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Ventures
Consolidating Australia
Adjustments Pty. Ltd.
============================================================================================================
<S> <C> <C>
Electric utility revenue $(165,660)
Diversified operations
------------------------------------------------------
Total operating revenue (165,660)
------------------------------------------------------
Fuel (29,716)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses (20,370) $(263)
Maintenance
Depreciation and decommissioning (22,902)
Income taxes 94 94
Property and other taxes
------------------------------------------------------
Total operating expenses (72,894) (169)
------------------------------------------------------
Operating income (92,766) 169
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (141)
Minority interest
Taxes on nonoperating income
Other - net
------------------------------------------------------
Total other income (deductions) - net (141)
------------------------------------------------------
Income before interest and other expenses (92,907) 169
------------------------------------------------------
Interest on long-term debt (19,167)
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net (19,167)
------------------------------------------------------
NET INCOME (73,740) 169
Retained Earnings - beginning of year (43,511) 26
Dividends declared on common stock
----------------------------------------------------
Retained Earnings - end of year (117,251) 195
======================================================
</TABLE>
<PAGE 376>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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 $11,628 $1,297,724
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $273,862
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 273,862 11,628 1,297,724
------------------------------------------------------
Cash and equivalents 1,877 462 392
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (517) 11,610
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 351 94
------------------------------------------------------
Total current assets 1,877 296 12,096
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 175,883 5,754
------------------------------------------------------
Total deferred charges 175,883 5,754
------------------------------------------------------
TOTAL ASSETS 275,739 187,807 1,315,574
======================================================
</TABLE>
<PAGE 377>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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 $(1,309,352)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $130,173 (273,862) $130,173
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 130,173 (1,583,214) 130,173
------------------------------------------------------
Cash and equivalents (2,731)
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (11,093)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (445)
------------------------------------------------------
Total current assets (14,269)
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (181,637)
------------------------------------------------------
Total deferred charges (181,637)
------------------------------------------------------
TOTAL ASSETS 130,173 (1,779,120) 130,173
======================================================
</TABLE>
<PAGE 378>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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
Additional Paid in Capital $285,003 $(273,147) $1,079,031
Retained earnings 116 (117,478) 234,808
------------------------------------------------------
285,119 (390,625) 1,313,839
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 568,920
------------------------------------------------------
Total capitalization 285,119 178,295 1,313,839
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (3,181) 3,588 10,817
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (3,181) 3,588 10,817
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits (6,199) 5,924 (9,082)
------------------------------------------------------
Total deferred credits (6,199) 5,924 (9,082)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 275,739 187,807 1,315,574
======================================================
</TABLE>
<PAGE 379>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(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
Additional Paid in Capital $(1,090,887)
Retained earnings $(3,170) (117,428) $(3,152)
------------------------------------------------------
(3,170) (1,208,315) (3,152)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 130,173 (568,920) 130,173
------------------------------------------------------
Total capitalization 127,003 (1,777,235) 127,021
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (11,225) (1)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (11,225) (1)
------------------------------------------------------
Accumulated deferred income taxes - net 3,167 3,167
Accumulated deferred investment tax credits
Customer advances and other deferred credits 3 9,340 (14)
------------------------------------------------------
Total deferred credits 3,170 9,340 3,153
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 130,173 (1,779,120) 130,173
======================================================
</TABLE>
<PAGE 380>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Latrobe
Victoria Power Loy Yang B
Partnership Partnership Joint Venture
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $165,660
Diversified operations
------------------------------------------------------
Total operating revenue 165,660
------------------------------------------------------
Fuel 29,716
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $1,439 18,668
Maintenance
Depreciation and decommissioning 12,832 10,070
Income taxes
Property and other taxes
------------------------------------------------------
Total operating expenses 14,271 58,454
------------------------------------------------------
Operating income (14,271) 107,206
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income $116 25
Minority interest
Other nonoperating income - net
------------------------------------------------------
Total other income (deductions) - net 116 25
------------------------------------------------------
Income before interest and other expenses 116 (14,246) 107,206
------------------------------------------------------
Interest on long-term debt 19,167
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 19,167
------------------------------------------------------
NET INCOME 116 (33,413) 107,206
Retained Earnings - beginning of year (84,065) 127,602
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 116 (117,478) 234,808
======================================================
</TABLE>
<PAGE 381>
<PAGE>
MEC International B.V.
Traralgon Power Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Traralgon
Traralgon Power
Power Consolidating Pty. Ltd.
Pty. Ltd. Adjustments Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $(165,660)
Diversified operations
------------------------------------------------------
Total operating revenue (165,660)
------------------------------------------------------
Fuel (29,716)
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses (20,107)
Maintenance
Depreciation and decommissioning (22,902)
Income taxes $4,379 $4,379
Property and other taxes
------------------------------------------------------
Total operating expenses 4,379 (72,725) 4,379
------------------------------------------------------
Operating income (4,379) (92,935) (4,379)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (141)
Minority interest
Taxes on nonoperating income
Other - net
------------------------------------------------------
Total other income (deductions) - net (141)
------------------------------------------------------
Income before interest and other expenses (4,379) (93,076) (4,379)
------------------------------------------------------
Interest on long-term debt (19,167)
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net (19,167)
------------------------------------------------------
NET INCOME (4,379) (73,909) (4,379)
Retained Earnings - beginning of year 1,209 (43,519) 1,227
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year (3,170) (117,428) (3,152)
======================================================
</TABLE>
<PAGE 382>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia
Power
Development MEC MEC
Company Columbia Esenyurt
Consolidated B.V. B.V.
============================================================================================================
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 $1,289
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,956
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 5,956 1,289
------------------------------------------------------
Cash and equivalents $25 373
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 177
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (0)
------------------------------------------------------
Total current assets 25 550
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 6 2 2,366
------------------------------------------------------
Total deferred charges 6 2 2,366
------------------------------------------------------
TOTAL ASSETS 5,962 27 4,205
======================================================
</TABLE>
<PAGE 383>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
IES India Indo Coal
B.V. B.V. B.V.
============================================================================================================
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 $18,243
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 18,243
------------------------------------------------------
Cash and equivalents $25 $25 56
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 25 25 56
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2 6 179
------------------------------------------------------
Total deferred charges 2 6 179
------------------------------------------------------
TOTAL ASSETS 27 31 18,478
======================================================
</TABLE>
<PAGE 384>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
Indonesia Laguna Power Mission
B.V. B.V. B.V.
============================================================================================================
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 $32,682
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 32,682
------------------------------------------------------
Cash and equivalents 179 $23 $25
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 179 23 25
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 324 1 2
------------------------------------------------------
Total deferred charges 324 1 2
------------------------------------------------------
TOTAL ASSETS 33,185 24 27
======================================================
</TABLE>
PAGE 385
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
Perth Priolo San Pascual
B.V. B.V. B.V.
============================================================================================================
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 $69,639
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $11,067
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 69,639 11,067
------------------------------------------------------
Cash and equivalents 23 2,123
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 763
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 23 2,886
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 3,329 91 $1
------------------------------------------------------
Total deferred charges 3,329 91 1
------------------------------------------------------
TOTAL ASSETS 72,991 14,044 1
======================================================
</TABLE>
<PAGE 386>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
MEC MEC Energy
Turkey Wales Italia
B.V. B.V. s.r.l.
============================================================================================================
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 $5
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 5
------------------------------------------------------
Cash and equivalents $25 $25 28
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 5
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 25 25 33
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 2 34 7
------------------------------------------------------
Total deferred charges 2 34 7
------------------------------------------------------
TOTAL ASSETS 27 59 45
======================================================
</TABLE>
PAGE 387
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
China Ningbo
Holdings Holdings
Company Company
============================================================================================================
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
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 $2 $2
------------------------------------------------------
Total deferred charges 2 2
------------------------------------------------------
TOTAL ASSETS 2 2
======================================================
</TABLE>
PAGE 388
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
International
Consolidating Holdings B.V.
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 $(70,933)
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (67,290) $658
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments (138,223) 658
------------------------------------------------------
Cash and equivalents (2,931) 24
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (945)
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets (3,876) 24
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (6,358) (2)
------------------------------------------------------
Total deferred charges (6,358) (2)
------------------------------------------------------
TOTAL ASSETS (148,457) 680
======================================================
</TABLE>
<PAGE 389>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia
Power
Development MEC MEC
Company Columbia Esenyurt
Consolidated B.V. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $26 $182
Additional Paid in Capital
Retained earnings $215 (0) (8)
------------------------------------------------------
215 26 174
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 3,508
------------------------------------------------------
Total capitalization 215 26 3,682
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 5,668 2 542
Accrued taxes 79 (4)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 5,747 2 538
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits (1) (28)
------------------------------------------------------
Total deferred credits (1) (28)
------------------------------------------------------
Minority interest 13
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 5,962 27 4,205
======================================================
</TABLE>
<PAGE 390>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
IES India Indo Coal
B.V. B.V. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $25 $23 $25
Additional Paid in Capital 18,700
Retained earnings (5) (153)
------------------------------------------------------
25 18 18,572
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 25 18 18,572
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2 16 4
Accrued taxes (3) (83)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2 13 (79)
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits (15)
------------------------------------------------------
Total deferred credits (15)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 27 31 18,478
======================================================
</TABLE>
<PAGE 391>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
Indonesia Laguna Power Mission
B.V. B.V. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $21 $23 $26
Additional Paid in Capital 33,108
Retained earnings 32 (7)
------------------------------------------------------
33,161 16 26
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 33,161 16 26
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 23 12 2
Accrued taxes 10 (4)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 33 8 2
------------------------------------------------------
Accumulated deferred income taxes - net (9)
Accumulated deferred investment tax credits
Customer advances and other deferred credits (1)
------------------------------------------------------
Total deferred credits (9) (1)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 33,185 24 27
======================================================
</TABLE>
PAGE 392
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
MEC MEC San
Perth Priolo Pascual
B.V. B.V. B.V.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $23 $21 $23
Additional Paid in Capital 13,522
Retained earnings (7) (48) (6)
------------------------------------------------------
16 13,495 17
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 67,255
------------------------------------------------------
Total capitalization 67,271 13,495 17
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 5,724 576 (13)
Accrued taxes (4) (27) (3)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 5,720 549 (16)
------------------------------------------------------
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 72,991 14,044 1
======================================================
</TABLE>
PAGE 393
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
MEC MEC Energy
Turkey Wales Italia
B.V. B.V. s.r.l.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $26 $26 $4
Additional Paid in Capital
Retained earnings (1) 1
------------------------------------------------------
26 25 5
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 26 25 5
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 2 36 28
Accrued taxes (1) 3
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2 35 31
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits (1) (1) 9
------------------------------------------------------
Total deferred credits (1) (1) 9
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 27 59 45
======================================================
</TABLE>
PAGE 394
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
China Ningbo
Holdings Holdings
Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $(2) $(2)
------------------------------------------------------
(2) (2)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (2) (2)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 5 5
Accrued taxes (1) (1)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 4 4
------------------------------------------------------
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 2 2
======================================================
</TABLE>
<PAGE 395>
<PAGE>
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
International
Consolidating Holdings B.V.
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $(452) $22
Additional Paid in Capital (64,668) 662
Retained earnings (21) (12)
------------------------------------------------------
(65,141) 672
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (70,763)
------------------------------------------------------
Total capitalization (135,904) 672
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (12,616) 18
Accrued taxes 30 (9)
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (12,586) 9
------------------------------------------------------
Accumulated deferred income taxes - net 9
Accumulated deferred investment tax credits
Customer advances and other deferred credits 37 (1)
------------------------------------------------------
Total deferred credits 46 (1)
------------------------------------------------------
Minority interest (13)
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES (148,457) 680
======================================================
</TABLE>
<PAGE 396>
<PAGE>
MEC International Holdings B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia
Power
Development MEC MEC
Company Columbia Esenyurt
Consolidated B.V. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $8 $12
Maintenance
Depreciation and decommissioning
Income taxes (3) (4)
Property and other taxes 0
------------------------------------------------------
Total operating expenses 5 8
------------------------------------------------------
Operating income (5) (8)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 302
Minority interest
Taxes on nonoperating income (82)
Other - net
------------------------------------------------------
Total other income (deductions) - net 220
------------------------------------------------------
Income before interest and other expenses 215 (8)
------------------------------------------------------
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 215 (8)
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 215 (8)
======================================================
</TABLE>
<PAGE 397>
<PAGE>
MEC International Holdings B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
IES India Indo Coal
B.V. B.V. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $10 $2
Maintenance
Depreciation and decommissioning 264
Income taxes (4) (93)
Property and other taxes
------------------------------------------------------
Total operating expenses 6 173
------------------------------------------------------
Operating income (6) (173)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 15
Minority interest
Taxes on nonoperating income (5)
Other - net 1 10
------------------------------------------------------
Total other income (deductions) - net 1 20
------------------------------------------------------
Income before interest and other expenses (5) (153)
------------------------------------------------------
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) (153)
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year (5) (153)
======================================================
</TABLE>
<PAGE 398>
<PAGE>
MEC International Holdings B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
Indonesia Laguna Power Mission
B.V. B.V. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $22 $11
Maintenance
Depreciation and decommissioning 55
Income taxes (27) (4)
Property and other taxes
------------------------------------------------------
Total operating expenses 50 7
------------------------------------------------------
Operating income (50) (7)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 107
Minority interest
Taxes on nonoperating income (37)
Other - net
------------------------------------------------------
Total other income (deductions) - net 70
------------------------------------------------------
Income before interest and other expenses 20 (7)
------------------------------------------------------
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 20 (7)
Retained Earnings - beginning of year 12
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 32 (7)
======================================================
</TABLE>
PAGE 399
<PAGE>
MEC International Holdings B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC MEC
Perth Priolo San Pascual
B.V. B.V. B.V.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $10 $23 $9
Maintenance
Depreciation and decommissioning 1 17
Income taxes (4) (14) (3)
Property and other taxes
------------------------------------------------------
Total operating expenses 7 26 6
------------------------------------------------------
Operating income (7) (26) (6)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2
Minority interest
Taxes on nonoperating income (1)
Other - net (31)
------------------------------------------------------
Total other income (deductions) - net (30)
------------------------------------------------------
Income before interest and other expenses (7) (56) (6)
------------------------------------------------------
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) (56) (6)
Retained Earnings - beginning of year 8
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year (7) (48) (6)
======================================================
</TABLE>
PAGE 400
<PAGE>
MEC International Holdings B.V.
Consolidating Income Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC MEC Mission
Turkey Wales Energy Italia
B.V. B.V. s.r.l.
============================================================================================================
<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)
Maintenance
Depreciation and decommissioning $2
Income taxes (1)
Property and other taxes
------------------------------------------------------
Total operating expenses 1 (1)
------------------------------------------------------
Operating income (1) 1
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and other expenses (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) 1
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year (1) 1
======================================================
</TABLE>
PAGE 401
<PAGE>
MEC International Holdings B.V.
Consolidating Income Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission
China Ningbo
Holdings Holdings
Company Company
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 $3
Maintenance
Depreciation and decommissioning
Income taxes (1) (1)
Property and other taxes
------------------------------------------------------
Total operating expenses 2 2
------------------------------------------------------
Operating income (2) (2)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income
Minority interest
Taxes on nonoperating income
Other - net
------------------------------------------------------
Total other income (deductions) - net
------------------------------------------------------
Income before interest and other expenses (2) (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 (2) (2)
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year (2) (2)
======================================================
</TABLE>
<PAGE 402>
<PAGE>
MEC International Holdings B.V.
Consolidating Income Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
MEC
International
Consolidating Holdings B.V.
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $(93) $19
Maintenance
Depreciation and decommissioning (340) (1)
Income taxes 151 (8)
Property and other taxes
------------------------------------------------------
Total operating expenses (282) 10
------------------------------------------------------
Operating income 282 (10)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (426)
Minority interest
Taxes on nonoperating income 126 1
Other - net 19 (1)
------------------------------------------------------
Total other income (deductions) - net (281)
------------------------------------------------------
Income before interest and other expenses 1 (10)
------------------------------------------------------
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 (10)
Retained Earnings - beginning of year (22) (2)
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year (21) (12)
======================================================
</TABLE>
<PAGE 403>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Asia
China Ningbo Power
Holdings Holdings Development
Company Company Company
============================================================================================================
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 $5,956
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 5,956
------------------------------------------------------
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 $2 2 2
------------------------------------------------------
Total deferred charges 2 2 2
------------------------------------------------------
TOTAL ASSETS 2 2 5,958
======================================================
</TABLE>
<PAGE 404>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia Power
Development
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
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $5,956
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 5,956
------------------------------------------------------
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 6
------------------------------------------------------
Total deferred charges 6
------------------------------------------------------
TOTAL ASSETS 5,962
======================================================
</TABLE>
<PAGE 405>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Asia
China Ningbo Power
Holdings Holdings Development
Company Company Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $(2) $(2) $219
------------------------------------------------------
(2) (2) 219
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (2) (2) 219
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 5 5 5,658
Accrued taxes (1) (1) 81
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 4 4 5,739
------------------------------------------------------
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 2 2 5,958
======================================================
</TABLE>
<PAGE 406>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia Power
Development
Consolidating Company
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $215
------------------------------------------------------
215
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 215
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 5,668
Accrued taxes 79
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 5,747
------------------------------------------------------
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 5,962
======================================================
</TABLE>
<PAGE 407>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Mission Asia
China Ningbo Power
Holdings Holdings Development
Company Company Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses $3 $3 $2
Maintenance
Depreciation and decommissioning
Income taxes (1) (1) (1)
Property and other taxes
------------------------------------------------------
Total operating expenses 2 2 1
------------------------------------------------------
Operating income (2) (2) (1)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 302
Minority interest
Taxes on nonoperating income (82)
Other - net
------------------------------------------------------
Total other income (deductions) - net 220
------------------------------------------------------
Income before interest and other expenses (2) (2) 219
------------------------------------------------------
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) (2) 219
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year (2) (2) 219
======================================================
</TABLE>
<PAGE 408>
<PAGE>
MEC International B.V.
MEC International Holdings B.V.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Asia Power
Development
Consolidating Company
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations
------------------------------------------------------
Total operating revenue
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses
Maintenance $8
Depreciation and decommissioning
Income taxes (3)
Property and other taxes
------------------------------------------------------
Total operating expenses 5
------------------------------------------------------
Operating income (5)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 302
Minority interest
Taxes on nonoperating income (82)
Other - net
------------------------------------------------------
Total other income (deductions) - net 220
------------------------------------------------------
Income before interest and other expenses 215
------------------------------------------------------
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 215
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 215
======================================================
</TABLE>
<PAGE 409>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Mission Energy Mission
Energy Services Hydro
Limited Limited (UK) 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 $1,403 $3
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 1,403 3
------------------------------------------------------
Cash and equivalents 1,744 346
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 485
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 680 (74)
------------------------------------------------------
Total current assets 2,424 757
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 72
------------------------------------------------------
Total deferred charges 72
------------------------------------------------------
TOTAL ASSETS 3,899 760
======================================================
</TABLE>
<PAGE 410>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Pride Mission Energy
(No. 2) Hold Ltd. Company
Limited Consolidated (UK) 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 $157,896
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $15,653
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 157,896 15,653
------------------------------------------------------
Cash and equivalents 14,591 3,521
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 6,769
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,790
------------------------------------------------------
Total current assets 24,150 3,521
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 21,500 41,680
------------------------------------------------------
Total deferred charges 21,500 41,680
------------------------------------------------------
TOTAL ASSETS 203,546 60,854
======================================================
</TABLE>
<PAGE 411>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Company
Consolidating (UK) Ltd.
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 $22,276 $181,578
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries (2,434) 13,219
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 19,842 194,797
------------------------------------------------------
Cash and equivalents 20,202
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (1,098) 6,156
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets (436) 2,960
------------------------------------------------------
Total current assets (1,534) 29,318
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges (41,273) 21,979
------------------------------------------------------
Total deferred charges (41,273) 21,979
------------------------------------------------------
TOTAL ASSETS (22,965) 246,094
======================================================
</TABLE>
<PAGE 412>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Mission Energy Mission
Energy Services Hydro
Limited Limited (UK) Ltd.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $739 $84
------------------------------------------------------
739 84
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 739 84
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable 3,255 634
Accrued taxes (19) 43
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 3,236 677
------------------------------------------------------
Accumulated deferred income taxes - net 33
Accumulated deferred investment tax credits
Customer advances and other deferred credits (109) (1)
------------------------------------------------------
Total deferred credits (76) (1)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 3,899 760
======================================================
</TABLE>
<PAGE 413>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Pride Mission Energy
(No. 2) Hold Ltd. Company
Limited Consolidated (UK) Ltd.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $25,858
Additional Paid in Capital $153
Retained earnings 10,616 (1,178)
------------------------------------------------------
10,769 24,680
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 139,904 31,847
------------------------------------------------------
Total capitalization 150,673 56,527
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 23,014
Short-term debt
Accounts payable 6,004 1,403
Accrued taxes 342
Accrued interest 6,192
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 35,552 1,403
------------------------------------------------------
Accumulated deferred income taxes - net 9,302
Accumulated deferred investment tax credits
Customer advances and other deferred credits 5,778 2,924
------------------------------------------------------
Total deferred credits 15,080 2,924
------------------------------------------------------
Minority interest 2,241
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 203,546 60,854
======================================================
</TABLE>
<PAGE 414>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Company
Consolidating (UK) Ltd.
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C>
Common shareholders' equity:
Common stock $(3,108) $22,750
Additional Paid in Capital 2,955 3,108
Retained earnings (5,030) 5,231
------------------------------------------------------
(5,183) 31,089
Preferred stock:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt (10,480) 161,271
------------------------------------------------------
Total capitalization (15,663) 192,360
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock (5,208) 17,806
Short-term debt
Accounts payable 5,666 16,962
Accrued taxes 366
Accrued interest 6,192
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 458 41,326
------------------------------------------------------
Accumulated deferred income taxes - net 9,335
Accumulated deferred investment tax credits
Customer advances and other deferred credits (7,855) 737
------------------------------------------------------
Total deferred credits (7,855) 10,072
------------------------------------------------------
Minority interest 95 2,336
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES (22,965) 246,094
======================================================
</TABLE>
<PAGE 415>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Mission Energy Mission
Energy Services Hydro
Limited Limited (UK) Ltd.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $12,825 $2,666
------------------------------------------------------
Total operating revenue 12,825 2,666
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 11,280 2,628
Maintenance
Depreciation and decommissioning 614 1
Income taxes 213 (3)
Property and other taxes 482
------------------------------------------------------
Total operating expenses 12,589 2,626
------------------------------------------------------
Operating income 236 40
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 31 20
Minority interest
Taxes on nonoperating income (16) (7)
Other - net (4)
------------------------------------------------------
Total other income (deductions) - net 11 13
------------------------------------------------------
Income before interest and other expenses 247 53
------------------------------------------------------
Interest on long-term debt
Other interest expense 13
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 13
------------------------------------------------------
NET INCOME 247 40
Retained Earnings - beginning of year 492 44
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 739 84
======================================================
</TABLE>
<PAGE 416>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Pride Mission Energy
(No. 2) Hold Ltd. Company
Limited Consolidated (UK) Ltd.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $90,688
Diversified operations 2,006
------------------------------------------------------
Total operating revenue 92,694
------------------------------------------------------
Fuel 41,746
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 20,087 $18
Maintenance
Depreciation and decommissioning 7,752 1,304
Income taxes 1,224 (685)
Property and other taxes 1,918
------------------------------------------------------
Total operating expenses 72,727 637
------------------------------------------------------
Operating income 19,967 (637)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1,846 2,064
Minority interest
Taxes on nonoperating income (609) (681)
Other - net 1,384
------------------------------------------------------
Total other income (deductions) - net 2,621 1,383
------------------------------------------------------
Income before interest and other expenses 22,588 746
------------------------------------------------------
Interest on long-term debt 17,618 2,265
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 17,618 2,265
------------------------------------------------------
NET INCOME 4,970 (1,519)
Retained Earnings - beginning of year 8,605 341
Dividends declared on common stock (2,959)
------------------------------------------------------
Retained Earnings - end of year 10,616 (1,178)
======================================================
</TABLE>
<PAGE 417>
<PAGE>
MEC International B.V.
Mission Energy Company (UK) Limited
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Company
Consolidating (UK) Ltd.
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue $90,688
Diversified operations $(4,264) 13,233
------------------------------------------------------
Total operating revenue (4,264) 103,921
------------------------------------------------------
Fuel (53) 41,693
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses (1,997) 32,016
Maintenance 0
Depreciation and decommissioning (9) 9,662
Income taxes 634 1,383
Property and other taxes (4) 2,396
------------------------------------------------------
Total operating expenses (1,429) 87,150
------------------------------------------------------
Operating income (2,835) 16,771
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income (1,908) 2,053
Minority interest (996) (996)
Taxes on nonoperating income 636 (677)
Other - net (38) 1,342
------------------------------------------------------
Total other income (deductions) - net (2,306) 1,722
------------------------------------------------------
Income before interest and other expenses (5,141) 18,493
------------------------------------------------------
Interest on long-term debt (1,892) 17,991
Other interest expense (13)
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net (1,905) 17,991
------------------------------------------------------
NET INCOME (3,236) 502
Retained Earnings - beginning of year (4,753) 4,729
Dividends declared on common stock 2,959
------------------------------------------------------
Retained Earnings - end of year (5,030) 5,231
======================================================
</TABLE>
<PAGE 418>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.) Limited
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Pride Lakeland Power
Hold Power Development
Ltd. Ltd. Company
============================================================================================================
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 $157,896
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $1
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 1 157,896
------------------------------------------------------
Cash and equivalents 14 14,577
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 2 6,654 $193
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,790
------------------------------------------------------
Total current assets 16 24,021 193
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 21,500
------------------------------------------------------
Total deferred charges 21,500
------------------------------------------------------
TOTAL ASSETS 17 203,417 193
======================================================
</TABLE>
<PAGE 419>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.) Limited
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Pride
Hold
Consolidating Ltd.
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 $157,896
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $(1)
Investments in leveraged leases
Other investments 0
------------------------------------------------------
Total other property and investments (1) 157,896
------------------------------------------------------
Cash and equivalents (0) 14,591
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (80) 6,769
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,790
------------------------------------------------------
Total current assets (80) 24,150
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 21,500
------------------------------------------------------
Total deferred charges 21,500
------------------------------------------------------
TOTAL ASSETS (81) 203,546
======================================================
</TABLE>
<PAGE 420>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.) Limited
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Pride Lakeland Power
Hold Power Development
Ltd. Ltd. Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1
Additional Paid in Capital $153
Retained earnings 161 12,329 $188
------------------------------------------------------
314 12,330 188
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 139,904
------------------------------------------------------
Total capitalization 314 152,234 188
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 23,014
Short-term debt
Accounts payable (295) 13,458 16
Accrued taxes 342
Accrued interest 6,192
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (295) 43,006 16
------------------------------------------------------
Accumulated deferred income taxes - net 9,302
Accumulated deferred investment tax credits
Customer advances and other deferred credits (2) (1,125) (11)
------------------------------------------------------
Total deferred credits (2) 8,177 (11)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 17 203,417 193
======================================================
</TABLE>
<PAGE 421>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.) Limited
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Pride
Hold
Consolidating Ltd.
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $(1)
Additional Paid in Capital 0 $153
Retained earnings (2,062) 10,616
------------------------------------------------------
(2,063) 10,769
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 139,904
------------------------------------------------------
Total capitalization (2,063) 150,673
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 23,014
Short-term debt
Accounts payable (7,175) 6,004
Accrued taxes 342
Accrued interest 6,192
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (7,175) 35,552
------------------------------------------------------
Accumulated deferred income taxes - net 9,302
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,916 5,778
------------------------------------------------------
Total deferred credits 6,916 15,080
------------------------------------------------------
Minority interest 2,241 2,241
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES (81) 203,546
======================================================
</TABLE>
<PAGE 422>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.) Limited
Pride Hold Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Pride Lakeland Power
Hold Power Development
Ltd. Ltd. Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $90,688
Diversified operations $2,006
------------------------------------------------------
Total operating revenue 2,006 90,688
------------------------------------------------------
Fuel 41,746
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 2,015 18,067 $5
Maintenance
Depreciation and decommissioning 7,752
Income taxes (1) 1,228 (3)
Property and other taxes 1,918
------------------------------------------------------
Total operating expenses 2,014 70,711 2
------------------------------------------------------
Operating income (8) 19,977 (2)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2 1,844
Minority interest
Taxes on nonoperating income (1) (608)
Other - net 1,384
------------------------------------------------------
Total other income (deductions) - net 1 2,620
------------------------------------------------------
Income before interest and other expenses (7) 22,597 (2)
------------------------------------------------------
Interest on long-term debt 17,618
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 17,618
------------------------------------------------------
NET INCOME (7) 4,979 (2)
Retained Earnings - beginning of year 168 10,309 190
Dividends declared on common stock (2,959)
------------------------------------------------------
Retained Earnings - end of year 161 12,329 188
======================================================
</TABLE>
<PAGE 423>
<PAGE>
MEC International B.V.
Mission Energy Company (U.K.) Limited
Pride Hold Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Pride
Hold
Consolidating Ltd.
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue $90,688
Diversified operations 2,006
------------------------------------------------------
Total operating revenue 92,694
------------------------------------------------------
Fuel 41,746
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 20,087
Maintenance
Depreciation and decommissioning 7,752
Income taxes 1,224
Property and other taxes 1,918
------------------------------------------------------
Total operating expenses 72,727
------------------------------------------------------
Operating income 19,967
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1,846
Minority interest
Taxes on nonoperating income (609)
Other - net 1,384
------------------------------------------------------
Total other income (deductions) - net 2,621
------------------------------------------------------
Income before interest and other expenses 22,588
------------------------------------------------------
Interest on long-term debt 17,618
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 17,618
------------------------------------------------------
NET INCOME 4,970
Retained Earnings - beginning of year $(2,062) 8,605
Dividends declared on common stock (2,959)
------------------------------------------------------
Retained Earnings - end of year (2,062) 10,616
======================================================
</TABLE>
<PAGE 424>
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Mission
Energy Operation & Mission Energy
Development Maintenance Holdings
Australia Loy Yang Superannuation
Pty. Ltd. Pty. Ltd. Fund 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 $6
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 113
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 119
------------------------------------------------------
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 119
======================================================
</TABLE>
<PAGE 425>
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Edison
Mission Operation & Mission
Energy Maintenance Energy
(Kwinana) Kwinana Holdings
Pty. Ltd. Pty. 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 $166
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 166
------------------------------------------------------
Cash and equivalents 402
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 521
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 923
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 599
------------------------------------------------------
Total deferred charges 599
------------------------------------------------------
TOTAL ASSETS 1,688
======================================================
</TABLE>
PAGE 426
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission
Energy
Holdings
Consolidating Pty. Ltd.
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 $166
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 166
------------------------------------------------------
Cash and equivalents 408
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 634
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets
------------------------------------------------------
Total current assets 1,042
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 599
------------------------------------------------------
Total deferred charges 599
------------------------------------------------------
TOTAL ASSETS 1,807
======================================================
</TABLE>
<PAGE 427>
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Mission
Energy Operation & Mission Energy
Development Maintenance Holdings
Australia Loy Yang Superannuation
Pty. Ltd. Pty. Ltd. Fund Pty. Ltd.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $1,285
------------------------------------------------------
1,285
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 1,285
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
Short-term debt
Accounts payable (1,271)
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (1,271)
------------------------------------------------------
Accumulated deferred income taxes - net
Accumulated deferred investment tax credits
Customer advances and other deferred credits 105
------------------------------------------------------
Total deferred credits 105
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 119
======================================================
</TABLE>
<PAGE 428>
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Edison
Mission Operation & Mission
Energy Maintenance Energy
(Kwinana) Kwinana Holdings
Pty. Ltd. Pty. Ltd. Pty. Ltd.
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $(1,234)
------------------------------------------------------
(1,234)
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization (1,234)
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 44
Short-term debt
Accounts payable 2,872
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 2,916
------------------------------------------------------
Accumulated deferred income taxes - net 19
Accumulated deferred investment tax credits
Customer advances and other deferred credits (13)
------------------------------------------------------
Total deferred credits 6
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 1,688
======================================================
</TABLE>
PAGE 429
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission
Energy
Holdings
Consolidating Pty. Ltd.
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock
Additional Paid in Capital
Retained earnings $51
------------------------------------------------------
51
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt
------------------------------------------------------
Total capitalization 51
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 44
Short-term debt
Accounts payable 1,601
Accrued taxes
Accrued interest
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 1,645
------------------------------------------------------
Accumulated deferred income taxes - net 19
Accumulated deferred investment tax credits
Customer advances and other deferred credits 92
------------------------------------------------------
Total deferred credits 111
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 1,807
======================================================
</TABLE>
<PAGE 430>
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Mission
Energy Operation & Mission Energy
Development Maintenance Holdings
Australia Loy Yang Superannuation
Pty. Ltd. Pty. Ltd. Fund Pty. Ltd.
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue
Diversified operations $1,996
------------------------------------------------------
Total operating revenue 1,996
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 1,325
Maintenance
Depreciation and decommissioning
Income taxes (223)
Property and other taxes
------------------------------------------------------
Total operating expenses 1,102
------------------------------------------------------
Operating income 894
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 18
Minority interest
Taxes on nonoperating income (6)
Other - net
------------------------------------------------------
Total other income (deductions) - net 12
------------------------------------------------------
Income before interest and other expenses 906
------------------------------------------------------
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 906
Retained Earnings - beginning of year 379
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 1,285
======================================================
</TABLE>
<PAGE 431>
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Edison
Mission Edison
Mission Operation & Mission
Energy Maintenance Energy
(Kwinana) Kwinana Holdings
Pty. Ltd. Pty. 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 $269
Maintenance
Depreciation and decommissioning 275
Income taxes (2)
Property and other taxes
------------------------------------------------------
Total operating expenses 542
------------------------------------------------------
Operating income (542)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 76
Minority interest
Taxes on nonoperating income (25)
Other - net
------------------------------------------------------
Total other income (deductions) - net 51
------------------------------------------------------
Income before interest and other expenses (491)
------------------------------------------------------
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 (491)
Retained Earnings - beginning of year (743)
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year (1,234)
======================================================
</TABLE>
PAGE 432
<PAGE>
MEC International B.V.
Edison Mission Energy Holdings Pty. Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Energy
Holdings
Consolidating Pty. Ltd.
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue
Diversified operations $42 $2,038
------------------------------------------------------
Total operating revenue 42 2,038
------------------------------------------------------
Fuel
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 32 1,626
Maintenance
Depreciation and decommissioning 9 284
Income taxes (15) (240)
Property and other taxes
------------------------------------------------------
Total operating expenses 26 1,670
------------------------------------------------------
Operating income 16 368
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2 96
Minority interest
Taxes on nonoperating income (4) (35)
Other - net
------------------------------------------------------
Total other income (deductions) - net (2) 61
------------------------------------------------------
Income before interest and other expenses 14 429
------------------------------------------------------
Interest on long-term debt
Other interest expense 14 14
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 14 14
------------------------------------------------------
NET INCOME 415
Retained Earnings - beginning of year (364)
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 51
======================================================
</TABLE>
<PAGE 433>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Pride Lakeland Power
Hold Power Development
Ltd. Ltd. Company
============================================================================================================
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 $157,896
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $1
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 1 157,896
------------------------------------------------------
Cash and equivalents 14 14,576
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 2 6,655 $193
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,790
------------------------------------------------------
Total current assets 16 24,021 193
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 21,500
------------------------------------------------------
Total deferred charges 21,500
------------------------------------------------------
TOTAL ASSETS 17 203,417 193
======================================================
</TABLE>
<PAGE 434>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Pride
Hold
Consolidating Ltd.
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 $157,896
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $(1)
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments (1) 157,896
------------------------------------------------------
Cash and equivalents 14,590
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts (80) 6,770
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 2,790
------------------------------------------------------
Total current assets (80) 24,150
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 21,500
------------------------------------------------------
Total deferred charges 21,500
------------------------------------------------------
TOTAL ASSETS (81) 203,546
======================================================
</TABLE>
<PAGE 435>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Pride Lakeland Power
Hold Power Development
Ltd. Ltd. Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $1
Additional Paid in Capital $153
Retained earnings 161 12,329 $188
------------------------------------------------------
314 12,330 188
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 139,904
------------------------------------------------------
Total capitalization 314 152,234 188
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 23,014
Short-term debt
Accounts payable (295) 13,458 16
Accrued taxes 342
Accrued interest 6,192
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (295) 43,006 16
------------------------------------------------------
Accumulated deferred income taxes - net 9,302
Accumulated deferred investment tax credits
Customer advances and other deferred credits (2) (1,125) (11)
------------------------------------------------------
Total deferred credits (2) 8,177 (11)
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 17 203,417 193
======================================================
</TABLE>
<PAGE 436>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Pride
Hold
Consolidating Ltd.
Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C>
Common shareholders' equity:
Common stock $(1)
Additional Paid in Capital $153
Retained earnings (2,062) 10,616
------------------------------------------------------
(2,063) 10,769
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 139,904
------------------------------------------------------
Total capitalization (2,063) 150,673
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock 23,014
Short-term debt
Accounts payable (7,175) 6,004
Accrued taxes 342
Accrued interest 6,192
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (7,175) 35,552
------------------------------------------------------
Accumulated deferred income taxes - net 9,302
Accumulated deferred investment tax credits
Customer advances and other deferred credits 6,916 5,778
------------------------------------------------------
Total deferred credits 6,916 15,080
------------------------------------------------------
Minority interest 2,241 2,241
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES (81) 203,546
======================================================
</TABLE>
<PAGE 437>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Lakeland
Pride Lakeland Power
Hold Power Development
Ltd. Ltd. Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $90,688
Diversified operations $2,006
------------------------------------------------------
Total operating revenue 2,006 90,688
------------------------------------------------------
Fuel 41,746
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 2,015 18,068 $5
Maintenance
Depreciation and decommissioning 7,752
Income taxes (1) 1,227 (3)
Property and other taxes 1,918
------------------------------------------------------
Total operating expenses 2,014 70,711 2
------------------------------------------------------
Operating income (8) 19,977 (2)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 2 1,844
Minority interest
Taxes on nonoperating income (1) (608)
Other - net 1,384
------------------------------------------------------
Total other income (deductions) - net 1 2,620
------------------------------------------------------
Income before interest and other expenses (7) 22,597 (2)
------------------------------------------------------
Interest on long-term debt 17,618
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 17,618
------------------------------------------------------
NET INCOME (7) 4,979 (2)
Retained Earnings - beginning of year 168 10,309 190
Dividends declared on common stock (2,959)
------------------------------------------------------
Retained Earnings - end of year 161 12,329 188
======================================================
</TABLE>
<PAGE 438>
<PAGE>
MEC International B.V.
Pride Hold Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Pride
Hold
Consolidating Ltd.
Adjustments Consolidated
============================================================================================================
<S> <C> <C>
Electric utility revenue $90,688
Diversified operations 2,006
------------------------------------------------------
Total operating revenue 92,694
------------------------------------------------------
Fuel 41,746
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 20,088
Maintenance
Depreciation and decommissioning 7,752
Income taxes 1,223
Property and other taxes 1,918
------------------------------------------------------
Total operating expenses 72,727
------------------------------------------------------
Operating income 19,967
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 1,846
Minority interest
Taxes on nonoperating income (609)
Other - net 1,384
------------------------------------------------------
Total other income (deductions) - net 2,621
------------------------------------------------------
Income before interest and other expenses 22,588
------------------------------------------------------
Interest on long-term debt 17,618
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 17,618
------------------------------------------------------
NET INCOME 4,970
Retained Earnings - beginning of year $(2,062) 8,605
Dividends declared on common stock (2,959)
------------------------------------------------------
Retained Earnings - end of year (2,062) 10,616
======================================================
</TABLE>
<PAGE 439>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
MEC Hydro Hydro Hydro
International Energy Energy Energy
B.V. B.V. B.V. B.V.
=====================================================================
Name of Entity: Hydro Compania Energias Iberica
Energy Mediterranea Hidraulicas de Energias
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 $9,812 $36,469 $2,484 $41,412
Revenue $1,017 $5,203 $288 $4,676
Net Income (Loss) $175 $493 $83 $1,258
</TABLE>
(a) To own hydroelectric facilities located throughout Spain.
PAGE 440
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1995
<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 Hidro Electro Hidroelectrica
Hy-Power Holdings 2 Metalurgica del Cadagua
Amsterdam S.A. del Elbro S.A.
B.V. S.A.
<S> <C> <C> <C> <C>
Ownership Interest: 34% 100% 80.1% 75%
Nature/Purpose of Business: (b) (b) (b) (b)
Ownership Interest in (000):
Assets $70,561 $125 $75,010 $2,609
Revenue $7,790 $0 $8,115 $503
Net Income (Loss) $(1,142) ($5) $(3,582) ($27)
</TABLE>
(b) To own hydroelectric facilities located throughout Spain.
<PAGE 441>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1995
<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 Hidroelectrica
de Casillas de Olvera de Posadas de Sossis
S.A. S.A. S.A. S.A.
<S> <C> <C> <C> <C>
Ownership Interest: 49% 66% 100% 100%
Nature/Purpose of Business: (b) (b) (b) (b)
Ownership Interest in (000):
Assets $202 $2,848 $348 $7,314
Revenue $0 $48 $0 $1,871
Net Income (Loss) $0 ($514) $0 $305
</TABLE>
(b) To own hydroelectric facilities located throughout Spain.
<PAGE 442>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Iberian Iberian (1)
Hy-Power MEC Hy-Power Hydro
Amsterdam International Amsterdam Energy
B.V. B.V. B.V. B.V.
==============================================================================
Name of Entity: Saltos Iberian Hydro Compania
del Porma Hy-Power Energy Mediterranea
S.A. Amsterdam B.V. de Energias
B.V. (1) S.A.
<S> <C> <C> <C> <C>
Ownership Interest: 100% 34% 90% 100%
Nature/Purpose of Business: (c) (c) (c) (c)
Ownership Interest in (000):
Assets $2,374 $70,561 $88,307 $36,469
Revenue $0 $7,790 $9,150 $5,203
Net Income (Loss) $0 $1,482 $1,573 $493
</TABLE>
(c) To own hydroelectric facilities located throughout Spain.
PAGE 443
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
Hydro Hydro
Energy Energy
B.V. B.V.
==============================================================================
Name of Entity: Energias Iberica
Hidraulicas de Energias
S.A. S.A.
<S> <C> <C>
Ownership Interest: 100% 100%
Nature/Purpose of Business: (d) (d)
Ownership Interest in (000):
Assets $2,484 $41,412
Revenue $288 $4,676
Net Income (Loss) $83 $1,258
</TABLE>
(d) To own hydroelectric facilities located throughout Spain.
<PAGE 444>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1995
<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: 34% 33%
Nature/Purpose of Business: (e) (e)
Ownership Interest in (000):
Assets $75,107 $75,107
Revenue $14,541 $14,541
Net Income (Loss) $(2,197) ($2,197)
</TABLE>
(e) To own and operate a 214 power production facility in the United Kingdom
<PAGE 445>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1995
<TABLE>
<CAPTION>
MEC
MEC MEC MEC International MEC
International Indonesia International Holdings Indonesia
B.V. B.V. B.V. B.V. B.V.
================================================================================
Name of Entity: MEC P.T. Paiton MEC MEC P.T.Paiton
Indonesia Energy International Indonesia Energy
B.V. Company Holdings B.V. Company
B.V.
<S> <C> <C> <C> <C> <C>
Ownership Interest: 99% 32.5% 100% 1% 32.5%
Nature/Purpose of Business: (f) (f) (f) (f) (f)
Ownership Interest in (000):
Assets $153,362 $154,912 $1,549 $1,549 $154,912
Revenue $0 $0 $0 $0 $0
Net Income (Loss) $0 $0 $0 $0 $0
</TABLE>
(f) To own and operate a 1,230 MW cogeneration facility located in Indonesia
<PAGE 446>
<PAGE>
MEC International B.V.
Equity Investments
December 31, 1995
<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 $11,733 $11,872 $119 $119 $11,872
Revenue $0 $0 $0 $0 $0
Net Income (Loss) $0 $0 $0 $0 $0
</TABLE>
(g) To own and operate a 507 MW cogeneration facility located in Sicily, Italy
PAGE 447
<PAGE>
MEC International B.V.
Mission Hydro (U.K.) Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro
First Hydro Finance Holdings
Limited plc Company
============================================================================================================
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 $681,676 $360,754
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries 699,075 $458,780
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments 681,676 1,059,829 458,780
------------------------------------------------------
Cash and equivalents 49,712 14,561
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 69,490
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1,243
------------------------------------------------------
Total current assets 120,445 14,561
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 12,767 311,943
------------------------------------------------------
Total deferred charges 12,767 311,943
------------------------------------------------------
TOTAL ASSETS 802,121 1,087,157 770,723
======================================================
</TABLE>
<PAGE 448>
<PAGE>
MEC International B.V.
Mission Hydro (U.K.) Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Hydro
Hydro Consolidating (U.K.) Ltd.
(U.K.) 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 $1,042,430
Nuclear decommissioning trusts
Investments in partnerships
and unconsolidated subsidiaries $(1,157,855)
Investments in leveraged leases
Other investments
------------------------------------------------------
Total other property and investments (1,157,855) 1,042,430
------------------------------------------------------
Cash and equivalents 64,273
Receivables, including unbilled revenue, net
of allowance for uncollectible accounts 69,490
Fuel inventory
Materials and supplies, at average cost
Accumulated deferred income taxes - net
Prepayments and other current assets 1,243
------------------------------------------------------
Total current assets 135,006
------------------------------------------------------
Unamortized debt issuance and reacquisition
expense
Rate phase-in plan
Unamortized nuclear plant--net
Income tax-related deferred charges
Other deferred charges 324,710
------------------------------------------------------
Total deferred charges 324,710
------------------------------------------------------
TOTAL ASSETS (1,157,855) 1,502,146
======================================================
</TABLE>
PAGE 449
<PAGE>
MEC International B.V.
Mission Hydro (U.K.) Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro
First Hydro Finance Holdings
Limited plc Company
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $154,675
Additional Paid in Capital 538,589 $454,966 $454,967
Retained earnings 12,553 (1,839) (470)
------------------------------------------------------
705,817 453,127 454,497
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 621,400
------------------------------------------------------
Total capitalization 705,817 1,074,527 454,497
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable 51,887 9,746
Accrued taxes 9,298
Accrued interest 3,755
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities 64,940 9,746
------------------------------------------------------
Accumulated deferred income taxes - net 311,943
Accumulated deferred investment tax credits
Customer advances and other deferred credits 31,364 2,884 4,283
------------------------------------------------------
Total deferred credits 31,364 2,884 316,226
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES 802,121 1,087,157 770,723
======================================================
</TABLE>
<PAGE 450>
<PAGE>
MEC International B.V.
Mission Hydro (U.K.) Ltd.
Consolidating Balance Sheet
December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Hydro
Hydro Consolidating (U.K.) Ltd.
(U.K.) Ltd. Adjustments Consolidated
============================================================================================================
CAPITALIZATION AND LIABILITIES
============================================================================================================
<S> <C> <C> <C>
Common shareholders' equity:
Common stock $(154,675)
Additional Paid in Capital (993,556) $454,966
Retained earnings 1,229 11,473
------------------------------------------------------
(1,147,002) 466,439
Preferred securities of subsidiaries:
Not subject to mandatory redemption
Subject to mandatory redemption
Long-term debt 621,400
------------------------------------------------------
Total capitalization (1,147,002) 1,087,839
------------------------------------------------------
Other long-term liabilities
------------------------------------------------------
Current portion of long-term debt
and redeemable preferred stock
Short-term debt
Accounts payable (1) 61,632
Accrued taxes 9,298
Accrued interest 3,755
Dividends payable
Regulatory balancing accounts--net
Deferred unbilled revenue and other
------------------------------------------------------
Total current liabilities (1) 74,685
------------------------------------------------------
Accumulated deferred income taxes - net 311,943
Accumulated deferred investment tax credits
Customer advances and other deferred credits (10,852) 27,679
------------------------------------------------------
Total deferred credits (10,852) 339,622
------------------------------------------------------
Minority interest
------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES (1,157,855) 1,502,146
======================================================
</TABLE>
<PAGE 451>
<PAGE>
MEC International B.V.
Mission Hydro (U.K.) Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro
First Hydro Finance Holdings
Limited plc Company
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $40,853
Diversified operations
------------------------------------------------------
Total operating revenue 40,853
------------------------------------------------------
Fuel 7,699
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 5,923
Maintenance
Depreciation and decommissioning 1,303 $470
Income taxes 8,562 $(906)
Property and other taxes 1,262
------------------------------------------------------
Total operating expenses 24,749 (906) 470
------------------------------------------------------
Operating income 16,104 906 (470)
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 256
Minority interest
Taxes on nonoperating income (84)
Other - net
------------------------------------------------------
Total other income (deductions) - net 172
------------------------------------------------------
Income before interest and other expenses 16,276 906 (470)
------------------------------------------------------
Interest on long-term debt 3,723 2,745
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 3,723 2,745
------------------------------------------------------
NET INCOME 12,553 (1,839) (470)
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 12,553 (1,839) (470)
======================================================
</TABLE>
PAGE 452
<PAGE>
MEC International B.V.
Mission Hydro (U.K.) Ltd.
Consolidating Statements of Income and Retained Earnings
For The Year Ended December 31, 1995
(In thousands)
<TABLE>
<CAPTION>
Mission
Mission Hydro
Hydro Consolidating (U.K.) Ltd.
(U.K.) Ltd. Adjustments Consolidated
============================================================================================================
<S> <C> <C> <C>
Electric utility revenue $40,853
Diversified operations
------------------------------------------------------
Total operating revenue 40,853
------------------------------------------------------
Fuel 7,699
Purchased power
Provisions for regulatory adjustment
clauses - net
Other operating expenses 5,923
Maintenance
Depreciation and decommissioning 1,773
Income taxes $(1,229) 6,427
Property and other taxes 1,262
------------------------------------------------------
Total operating expenses (1,229) 23,084
------------------------------------------------------
Operating income 1,229 17,769
------------------------------------------------------
Provision for rate phase-in plan
Allowance for equity funds used during
construction
Interest income 256
Minority interest
Taxes on nonoperating income (84)
Other - net
------------------------------------------------------
Total other income (deductions) - net 172
------------------------------------------------------
Income before interest and other expenses 1,229 17,941
------------------------------------------------------
Interest on long-term debt 6,468
Other interest expense
Allowance for borrowed funds used during
construction
Capitalized interest
Dividends on subsidiary preferred
securities
------------------------------------------------------
Total interest and other expenses - net 6,468
------------------------------------------------------
NET INCOME 1,229 11,473
Retained Earnings - beginning of year
Dividends declared on common stock
------------------------------------------------------
Retained Earnings - end of year 1,229 11,473
======================================================
</TABLE>
<PAGE 453>
PAGE
<PAGE>
EXHIBIT B
FINANCIAL DATA SCHEDULE
The following is provided for Edison International on a consolidated
basis:
Item No. Caption Heading Amount
- - -------- --------------- ------
1 Total Assets $23,946,235,000
2 Total Operating Revenues $ 8,404,674,000
3 Net Income $ 739,136,000
PAGE 454
<PAGE>
EXHIBIT C
EXEMPT WHOLESALE GENERATORS (EWGs):
- - -----------------------------------
4.1 COMMONWEALTH ATLANTIC LIMITED PARTNERSHIP
Edison International
The Mission Group
Edison Mission Energy
Hanover Energy Company
Chickahominy River Energy Corp.
Commonwealth Atlantic Limited Partnership
4.2 NEVADA SUN-PEAK LIMITED PARTNERSHIP
Edison International
The Mission Group
Edison Mission Energy
Quartz Peak Energy Company
Nevada Sun-Peak Limited Partnership
4.3 CROWN ENERGY, L.P. (canceled)
Edison International
The Mission Group
Edison Mission Energy
Arrowhead Energy Company
Crown Energy, L.P.
4.4 VISTA ENERGY, L.P. (canceled)
Edison International
The Mission Group
Edison Mission Energy
Vista Energy Company
Vista Energy, L.P.
4.5 GORDONSVILLE ENERGY, L.P.
Edison International
The Mission Group
Edison Mission Energy
Madison Energy Company
Gordonsville Energy, L.P.
Edison International
The Mission Group
Edison Mission Energy
Rapidan Energy Company
Gordonsville Energy, L.P.
<PAGE 455>
<PAGE>
FOREIGN UTILITY COMPANIES:
- - --------------------------
4.6 LOY YANG B JOINT VENTURE
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Latrobe Power Pty Ltd
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Australia Ltd
Latrobe Power Partnership
Loy Yang B Joint Venture
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
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
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
PAGE 456
<PAGE>
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Traralgon Power Pty Ltd
Mission Victoria Partnership
Latrobe Power Partnership
Loy Yang B Joint Venture
4.7 COMPANIA MEDITERRANEA DE ENERGIAS, S.A.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Hydro Energy B.V.
Compania Mediterranea de Energias, S.A.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
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. (merged into Hidroelectrica del Cadagua)
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Electra La Mella, S.A.
4.9 ELECTROMETALURGICA DEL EBRO, S.A.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Electrometalurgica del Ebro, S.A.
PAGE 457
<PAGE>
4.10 HIDROELECTRICA DEL CADAGUA, S.A.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica del Cadagua, S.A.
4.11 HIDROELECTRICA DE CASILLAS, S.A. (not operational)
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica de Casillas, S.A.
4.12 HIDROELECTRICA DE OLVERA, S.A.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica de Olvera, S.A.
4.13 HIDROELECTRICA DE POSADAS, S.A. (not operational)
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica de Posadas, S.A.
4.14 HIDROELECTRICA DEL SOSSIS, S.A.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hidroelectrica del Sossis, S.A.
PAGE 458
<PAGE>
4.15 IBERICA DE ENERGIAS, S.A.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Hydro Energy B.V.
Iberica de Energias, S.A.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V.
Iberica de Energias, S.A.
4.16 LAKELAND POWER LIMITED
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited
Lakeland Power Limited
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Pride Hold Limited
Lakeland Power Limited
4.17 DERWENT COGENERATION LIMITED
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Mission Energy Company (UK) Limited
Derwent Cogeneration Limited
PAGE 459
<PAGE>
4.18 EPZ MISSION FUNDING MU TRUST
Edison International
The Mission Group
Edison Capital
Edison Funding Company
Mission Funding Epsilon
Mission Funding Alpha
Mission Funding Mu
EPZ Mission Funding Mu Trust
4.19 EPZ MISSION FUNDING NU TRUST
Edison International
The Mission Group
Edison Capital
Edison Funding Company
Mission Funding Epsilon
Mission Funding Delta
Mission Funding Nu
EPZ Mission Funding Nu Trust
Foreign Utility Company:
- - ------------------------
4.20 First Hydro Limited
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Wales Company
Mission Hydro Limited Partnership [30%LP]
First Hydro Holdings Company
First Hydro Finance plc
First Hydro Limited
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company
First Hydro Finance plc
First Hydro Limited
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership [1%GP]
First Hydro Holdings Company
First Hydro Finance plc
First Hydro Limited
PAGE 460
<PAGE>
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
MEC Wales B.V. (99%)
Mission Hydro Limited Partnership [69%LP]
First Hydro Holdings Company
First Hydro Finance plc
First Hydro Limited
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. (1%)
Mission Hydro Limited Partnership
First Hydro Holdings Company
First Hydro Finance plc
First Hydro Limited
Exempt Wholesale Generator:
- - ---------------------------
4.21 Brooklyn Navy Yard Cogeneration Partners, L.P.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy New York, Inc.
Brooklyn Navy Yard Cogeneration Partners, L.P.
Foreign Utility Company:
- - ------------------------
4.22 P. T. Paiton Energy Company
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
MEC Indonesia B.V. (99%)
P. T. Paiton Energy Company
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
MEC International Holdings B.V.
MEC Indonesia B.V. (1%)
P. T. Paiton Energy Company
PAGE 461
<PAGE>
Foreign Utility Company:
- - ------------------------
4.23 ISAB Energy, S.r.l.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
MEC Priolo B.V. (99%)
ISAB Energy, S.r.l.
Edison International
The Mission Group
Edison Mission Energy
Mission Energy Holdings International, Inc.
MEC International B.V.
MEC International Holdings B.V.
MEC Priolo B.V. (1%)
ISAB Energy, S.r.l.
<PAGE 462>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
Exhibit 27 to Edison International (formerly SCEcorp) Form U-3A-2 for 12/31/95
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 23,946,235,000
<TOTAL-OPERATING-REVENUES> 8,404,674,000
<NET-INCOME> 739,136,000
</TABLE>
