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Previous: MUNICIPAL ADVANTAGE FUND INC, N-30D, 1995-06-20 |
Next: BEST POWER TECHNOLOGY INC, SC 14D1/A, 1995-06-20 |
Commission File No. 1-11377
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U5B
REGISTRATION STATEMENT
AMENDMENT NO. 1
Filed Pursuant to Section 5 of the
Public Utility Holding Company Act of 1935
CINergy Corp.
Name of Registrant
Name, Title and Address of Officer to whom Notices and Correspondence
concerning this Statement should be Addressed
Cheryl M. Foley, Esq.
Vice President, General Counsel
and Corporate Secretary
CINergy Corp.
139 East Fourth Street
Cincinnati, Ohio 45202
<PAGE>
Glossary of Defined Terms
CG&E The Cincinnati Gas & Electric Company, an Ohio
corporation and a subsidiary of CINergy
CINergy CINergy Corp., a Delaware corporation
Commission Securities and Exchange Commission
Energy PSI Energy, Inc., an Indiana corporation and a subsidiary
of CINergy
ULH&P The Union Light, Heat and Power Company, a Kentucky
corporation and a subsidiary of CG&E
PUCO Public Utilities Commission of Ohio
KPSC Kentucky Public Service Commission
IURC Indiana Utility Regulatory Commission
<PAGE>
EXHIBIT D. A consolidating statement of income and surplus of the registrant
and its subsidiary companies for its last fiscal year ending prior to the date
of filing this registration statement, together with a consolidating balance
sheet of the registrant and its subsidiary companies as of the close of such
fiscal year.
See Exhibit D hereto.
EXHIBIT F. Furnish an accurate copy of each annual report for the last fiscal
year ending prior to the date of the filing of this registration statement,
which the registrant and each subsidiary company thereof has previously
submitted to its stockholders. For companies for which no reports are
submitted the reason for omission should be indicated; provided that
electronic filers shall submit such reports in paper format only under cover
of Form SE.
See Exhibit F hereto.
EXHIBIT G. Furnish a copy of each annual report which the registrant and each
public utility subsidiary company thereof shall have filed with any State
commission having jurisdiction to regulate public utility companies for the
last fiscal year ending prior to the date of filing this registration
statement. If any such company shall have filed similar reports with more
than one such State commission, the registrant need file a copy of only one of
such reports provided that notation is made of such fact, giving the names of
the different commissions with which such report was filed, and setting forth
any differences between the copy submitted and the copies filed with such
other commissions. In the event any company submits an annual report to the
Federal Power Commission but not to a State commission, a copy of such report
should be furnished. In the case of a registrant or any public utility
subsidiary company for which no report is appended the reasons for such
omission should be indicated such as "No such reports required or filed; "
provided that electronic filers shall submit such reports in paper format only
under cover of Form SE.
See Exhibits G-1 through G-7 hereto.
This amendment to CINergy`s registration statement comprises:
(a) A cover page, followed by pages numbered 2 to 5, consecutively.
(b) The following Exhibits: the Exhibits shown on the attached exhibit
index.
<PAGE>
INDEX OF EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
D Consolidating statements of income and retained earnings of CINergy
and its subsidiary companies for the year ending December 31, 1994,
and consolidating balance sheet of CINergy and its subsidiary
companies as of December 31, 1994.
F 1994 Annual Report to Shareholders of CINergy (filed under cover of
Form SE).
G-1 1994 FERC Form No. 1 of CG&E as filed with the PUCO (filed under
cover of Form SE).
G-2 1994 FERC Form No. 2 of CG&E as filed with the PUCO (filed under
cover of Form SE).
G-3 1994 FERC Form No. 1 of ULH&P as filed with the KPSC (filed under
cover of Form SE).
G-4 1994 FERC Form No. 2 of ULH&P as filed with the KPSC (filed under
cover of Form SE).
G-5 1994 FERC Form No. 1 of Energy as filed with the IURC (filed under
cover of Form SE).
G-6 1994 annual report of West Harrison submitted to the IURC (filed
under cover of Form SE).
G-7 1994 annual report of Lawrenceburg submitted to the IURC (filed
under cover of Form SE).
27 Financial Data Schedules (included in electronic submission only).
<PAGE>
SIGNATURE
Pursuant to the requirements of the Public Utility Holding Company Act of
1935, the registrant has caused this registration statement amendment to be
duly signed on its behalf in the City of Cincinnati and State of Ohio on the
16th day of June, 1995.
CINergy Corp.
By /s/Jackson H. Randolph
--------------------------------
Chairman of the Board and
Chief Executive Officer
Attest:
/s/James E. Rogers
- -------------------------------------
Vice Chairman of the Board,
President and Chief Operating Officer
VERIFICATION
State of Ohio )
) ss.
County of Hamilton )
The undersigned, being duly sworn, deposes and says that he has duly
executed the attached registration statement amendment dated June 16, 1995,
for and on behalf of CINergy Corp.; that he is the Chairman of the Board and
Chief Executive Officer of such company; and that all action by stockholders,
directors, and other bodies necessary to authorize deponent to execute and
file such instrument has been taken. Deponent further says that he is
familiar with such instrument and the contents thereof, and that the facts
therein set forth are true to the best of his knowledge, information and
belief.
By /s/Jackson H. Randolph
--------------------------------
Subscribed and sworn to before me
this 16th day of June, 1995.
/s/Nancy L. Praechter
- ------------------------------------
Notary Public, State of Ohio
My commission expires: Feb. 21, 2000
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation by
reference in Amendment No. 1 to CINergy Corp.`s Registration Statement on Form
U5B of our reports dated (i) January 23, 1995 included in CINergy Corp.`s
Annual Report on Form 10-K for the year ended December 31, 1994, (ii) January
23, 1995 included in The Cincinnati Gas & Electric Company`s Annual Report on
Form 10-K for the year ended December 31, 1994, (iii) January 23, 1995 included
in PSI Energy, Inc.`s Annual Report on Form 10-K for the year ended December
31, 1994, and (iv) January 23, 1995 included in The Union Light, Heat and Power
Company`s Annual Report on Form 10-K for the year ended December 31, 1994.
Arthur Andersen LLP
Cincinnati, Ohio,
June 15, 1995
<PAGE>
<TABLE>
<CAPTION>
CINERGY CORP.
CONSOLIDATING STATEMENT OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 1994
(in thousands, except per share amounts)
Consolidated Consolidated
CINergy The Cincinnati Gas PSI
CINergy Corp. Services, Inc. & Electric Company2/ Energy, Inc.1/
<S> <C> <C> <C> <C>
OPERATING REVENUES
Electric - 1,724 1,345,787 1,126,504
Gas - - 442,398 -
- 1,724 1,788,185 1,126,504
OPERATING EXPENSES
Fuel used in electric production - - 325,470 400,515
Gas purchased - - 248,293 -
Purchased and exchanged power - - 20,932 41,400
Other operation 643 1,688 336,030 213,122
Maintenance - - 106,810 94,149
Depreciation - - 156,676 137,719
Post-in-service deferred operating
expenses - net - - 3,290 (9,288)
Phase-in deferred depreciation - - (2,161) -
Income taxes (925) - 104,128 50,366
Taxes other than income taxes (10) 36 197,381 46,335
(292) 1,724 1,496,849 974,318
OPERATING INCOME (LOSS) 292 - 291,336 152,186
OTHER INCOME AND EXPENSES - NET
Allowance for equity funds used
during construction - - 1,971 4,230
Post-in-service carrying costs - - - 9,780
Phase-in deferred return - - 15,351 -
Income taxes 2,219 - 6,619 (1,312)
Equity in earnings of subsidiaries 196,300 - - -
Other - net (5,100) - (6,726) (7,893)
193,419 - 17,215 4,805
INCOME (LOSS) BEFORE INTEREST AND
OTHER CHARGES 193,711 - 308,551 156,991
INTEREST AND OTHER CHARGES
Interest on long-term debt - - 150,386 68,862
Other interest 2,569 - 2,831 15,292
Allowance for borrowed funds used
during construction - - (2,977) (9,355)
Preferred dividend requirements
of subsidiaries - - - -
2,569 - 150,240 74,799
NET INCOME (LOSS) 191,142 - 158,311 82,192
PREFERRED DIVIDEND REQUIREMENT - - 22,377 13,182
INCOME APPLICABLE TO COMMON STOCK 191,142 - 135,934 69,010
AVERAGE COMMON SHARES OUTSTANDING
EARNINGS PER COMMON SHARE
DIVIDENDS DECLARED PER COMMON SHARE
<FN>
1/ PSI Energy, Inc. is the parent company of PSI Energy Argentina, Inc. and South Construction Co., both of which did not
have any activity for 1994.
2/ See accompanying consolidating statements of income (loss).
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY CORP.
CONSOLIDATING STATEMENT OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 1994
(continued)
(in thousands, except per share amounts)
Consolidated
CINergy Consolidated
Investments, Inc.2/ Eliminations CINergy Corp.
<S> <C> <C> <C> <C>
OPERATING REVENUES
Electric 8,221 (457) 2,481,779
Gas - - 442,398
8,221 (457) 2,924,177
OPERATING EXPENSES
Fuel used in electric production - - 725,985
Gas purchased - - 248,293
Purchased and exchanged power - - 62,332
Other operation 12,396 (229) 563,650
Maintenance - - 200,959
Depreciation - - 294,395
Post-in-service deferred operating
expenses - net - - (5,998)
Phase-in deferred depreciation - - (2,161)
Income taxes (1,388) - 152,181
Taxes other than income taxes 309 - 244,051
11,317 (229) 2,483,687
OPERATING INCOME (LOSS) (3,096) (228) 440,490
OTHER INCOME AND EXPENSES - NET
Allowance for equity funds used
during construction - - 6,201
Post-in-service carrying costs - - 9,780
Phase-in deferred return - - 15,351
Income taxes 3,083 - 10,609
Equity in earnings of subsidiaries - (196,300) -
Other - net (7,514) (1,211) (28,444)
(4,431) (197,511) 13,497
INCOME (LOSS) BEFORE INTEREST AND
OTHER CHARGES (7,527) (197,739) 453,987
INTEREST AND OTHER CHARGES
Interest on long-term debt - - 219,248
Other interest 889 (1,211) 20,370
Allowance for borrowed funds used
during construction - - (12,332)
Preferred dividend requirements
of subsidiaries - 35,559 35,559
889 34,348 262,845
NET INCOME (LOSS) (8,416) (232,087) 191,142
PREFERRED DIVIDEND REQUIREMENT - (35,559) -
INCOME APPLICABLE TO COMMON STOCK (8,416) (196,528) 191,142
AVERAGE COMMON SHARES OUTSTANDING 147,426
EARNINGS PER COMMON SHARE 1.30
DIVIDENDS DECLARED PER COMMON SHARE 1.50
<FN>
1/ PSI Energy, Inc. is the parent company of PSI Energy Argentina, Inc. and South Construction Co., both of which did not
have any activity for 1994.
2/ See accompanying consolidating statements of income (loss).
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1994
(in thousands)
The Union Light, The West
The Cincinnati Gas Heat and Lawrenceburg Harrison Gas and
& Electric Company Power Company Gas Company Electric Company
<S> <C> <C> <C> <C>
OPERATING REVENUES
Electric 1,304,414 177,564 - 483
Gas 364,827 71,971 7,077 -
1,669,241 249,535 7,077 483
OPERATING EXPENSES
Fuel used in electric production 326,109 - - -
Gas purchased 204,079 40,508 3,969 -
Purchased and exchanged power 20,933 134,887 - 344
Other operation 305,241 32,289 1,574 68
Maintenance 101,200 5,473 121 14
Depreciation 145,644 10,644 370 17
Post-in-service deferred operating
expenses - net 3,290 - - -
Phase-in deferred depreciation (2,161) - - -
Income taxes 98,352 5,342 219 9
Taxes other than income taxes 193,085 4,002 276 13
1,395,772 233,145 6,529 465
OPERATING INCOME 273,469 16,390 548 18
OTHER INCOME AND EXPENSES - NET
Allowance for equity funds used
during construction 1,893 78 - -
Phase-in deferred return 15,351 - - -
Income taxes 6,611 56 5 -
Equity in earnings of subsidiaries 8,713 - - -
Other - net (4,878) 236 (15) -
27,690 370 (10) -
INCOME BEFORE INTEREST 301,159 16,760 538 18
INTEREST
Interest on long-term debt 142,102 8,161 123 -
Other interest 2,433 395 60 5
Allowance for borrowed funds used
during construction (1,687) (183) (5) -
142,848 8,373 178 5
NET INCOME 158,311 8,387 360 13
PREFERRED DIVIDEND REQUIREMENT 22,377 - - -
INCOME APPLICABLE TO COMMON STOCK 135,934 8,387 360 13
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1994
(continued)
(in thousands)
Miami Tri-State KO
Power Corp. Improvement Co. Transmission Co. Eliminations
<S> <C> <C> <C> <C>
OPERATING REVENUES
Electric 45 - - (136,719)
Gas - - - (1,477)
45 - - (138,196)
OPERATING EXPENSES
Fuel used in electric production - - - (639)
Gas purchased - - - (263)
Purchased and exchanged power - - - (135,232)
Other operation 34 - - (3,176)
Maintenance 2 - - -
Depreciation 1 - - -
Post-in-service deferred operating
expenses - net - - - -
Phase-in deferred depreciation - - - -
Income taxes 1 - - 205
Taxes other than income taxes 5 - - -
43 - - (139,105)
OPERATING INCOME 2 - - 909
OTHER INCOME AND EXPENSES - NET
Allowance for equity funds used
during construction - - - -
Phase-in deferred return - - - -
Income taxes - (53) - -
Equity in earnings of subsidiaries - - - (8,713)
Other - net - 295 - (2,364)
- 242 - (11,077)
INCOME BEFORE INTEREST 2 242 - (10,168)
INTEREST
Interest on long-term debt - - - -
Other interest - 1,252 - (1,314)
Allowance for borrowed funds used
during construction - (1,102) - -
- 150 - (1,314)
NET INCOME 2 92 - - - (8,854)
PREFERRED DIVIDEND REQUIREMENT - - - - -
INCOME APPLICABLE TO COMMON STOCK 2 92 - (8,854)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1994
(continued)
(in thousands)
Consolidated
The Cincinnati Gas
& Electric Company
<S> <C>
OPERATING REVENUES
Electric 1,345,787
Gas 442,398
1,788,185
OPERATING EXPENSES
Fuel used in electric production 325,470
Gas purchased 248,293
Purchased and exchanged power 20,932
Other operation 336,030
Maintenance 106,810
Depreciation 156,676
Post-in-service deferred operating
expenses - net 3,290
Phase-in deferred depreciation (2,161)
Income taxes 104,128
Taxes other than income taxes 197,381
1,496,849
OPERATING INCOME 291,336
OTHER INCOME AND EXPENSES - NET
Allowance for equity funds used
during construction 1,971
Phase-in deferred return 15,351
Income taxes 6,619
Equity in earnings of subsidiaries -
Other - net (6,726)
17,215
INCOME BEFORE INTEREST 308,551
INTEREST
Interest on long-term debt 150,386
Other interest 2,831
Allowance for borrowed funds used
during construction (2,977)
150,240
NET INCOME 158,311
PREFERRED DIVIDEND REQUIREMENT 22,377
INCOME APPLICABLE TO COMMON STOCK 135,934
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING STATEMENT OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 1994
(in thousands)
Power
CINergy Equipment Wholesale Power PSI
Investments, Inc. Supply Co. Services, Inc. Recycling, Inc
<S> <C> <C> <C> <C>
OPERATING REVENUES 2 4,592 276 3,036
OPERATING EXPENSES
Other operation 1,928 5,186 1,135 2,896
Income taxes (873) (435) (347) 17
Taxes other than income taxes 46 169 31 32
1,101 4,920 819 2,945
OPERATING INCOME (LOSS) (1,099) (328) (543) 91
OTHER INCOME AND EXPENSES - NET
Income taxes - - - -
Equity in earnings of subsidiaries (7,025) - - -
Other - net 42 4 - 9
(6,983) 4 - 9
INCOME (LOSS) BEFORE INTEREST (8,082) (324) (543) 100
NET INCOME (LOSS) (8,416) (485) (569) 34
<FN>
1/ PSI Argentina, Inc. is the parent company of Costanera Power Corp., which did not have any activity for 1994.
2/ See accompanying consolidating statements of income (loss).
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING STATEMENT OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 1994
(continued)
(in thousands)
Consolidated Consolidated CG&E
PSI Power Resource
Argentina, Inc. 1/ International, Inc.2/Marketing, Inc. CGE ECK, Inc.
<S> <C> <C> <C> <C>
OPERATING REVENUES 315 - - -
OPERATING EXPENSES
Other operation 1,251 - - -
Income taxes 250 - - -
Taxes other than income taxes 31 - - -
1,532 - - -
OPERATING INCOME (LOSS) (1,217) - - -
OTHER INCOME AND EXPENSES - NET
Income taxes - 2,624 227 232
Equity in earnings of subsidiaries - - - -
Other - net 1,421 (7,745) (622) (623)
1,421 (5,121) (395) (391)
INCOME (LOSS) BEFORE INTEREST 204 (5,121) (395) (391)
INTEREST 29 207 26 40
NET INCOME (LOSS) 175 (5,328) (421) (431)
<FN>
1/ PSI Argentina, Inc. is the parent company of Costanera Power Corp., which did not have any activity for 1994.
2/ See accompanying consolidating statements of income (loss).
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING STATEMENT OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 1994
(continued)
(in thousands)
Consolidated
CINergy
Eliminations Investments, Inc.
<S> <C> <C>
OPERATING REVENUES - 8,221
OPERATING EXPENSES
Other operation - 12,396
Income taxes - (1,388)
Taxes other than income taxes - 309
- 11,317
OPERATING INCOME (LOSS) - (3,096)
OTHER INCOME AND EXPENSES - NET
Income taxes - 3,083
Equity in earnings of subsidiaries 7,025 -
Other - net - (7,514)
7,025 (4,431)
INCOME (LOSS) BEFORE INTEREST 7,025 (7,527)
INTEREST - 889
NET INCOME (LOSS) 7,025 (8,416)
<FN>
1/ PSI Argentina, Inc. is the parent company of Costanera Power Corp., which did not have any activity for 1994.
2/ See accompanying consolidating statements of income (loss).
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
POWER INTERNATIONAL, INC.
CONSOLIDATING STATEMENT OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 1994
(in thousands)
Consolidated
Beheer-En Consolidated
Power Belegginsmaatschappij Power
International, Inc. Bruwabel B.V. 1/ Eliminations International, Inc.
<S> <C> <C> <C> <C>
OTHER INCOME AND EXPENSES - NET
Allowance for equity funds used
during construction - - - -
Post-in-service carrying costs - - - -
Phase-in deferred return - - - -
Income taxes 2,624 (1) 1 2,624
Revenues - Sales services - 1,519 (1,519) -
Other revenue 726 3 (3) 726
Wage and salary expense - (120) 120 -
Taxes other than income taxes (72) (42) 42 (72)
Other operating expenses (2,534) (1,476) 1,476 (2,534)
Depreciation expense - (54) 54 -
Other nonoperating expenses (5,865) (38) 38 (5,865)
(5,121) (209) 209 (5,121)
INCOME (LOSS) BEFORE INTEREST (5,121) (209) 209 (5,121)
INTEREST 207 - - 207
NET INCOME (LOSS) (5,328) (209) 209 (5,328)
<FN>
1/ See accompanying consolidating statement of income (loss).
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
BEHEER-EN BELEGGINSMAATSCHAPPIJ BRUWABEL B.V.
CONSOLIDATING STATEMENT OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 1994
(in thousands)
Beheer-En
Belegginsmaatschappij Power Power
Bruwabel B.V. International s.r.o. Development s.r.o. Eliminations
<S> <C> <C> <C> <C>
OTHER INCOME AND EXPENSES - NET
Allowance for equity funds used
during construction - - - -
Post-in-service carrying costs - - - -
Phase-in deferred return - - - -
Income taxes (1) - - -
Revenues - Sales services 13 2,053 - (547)
Other revenue 1 228 - (226)
Equity in earnings of subsidiaries (173) - - 173
Wage and salary expense - (238) - 118
Taxes other than income taxes - (83) - 41
Other operating expenses (17) (2,001) - 542
Depreciation expense - (75) - 21
Other nonoperating expense (32) (8) - 2
NET INCOME (LOSS) (209) (124) - 124
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
BEHEER-EN BELEGGINSMAATSCHAPPIJ BRUWABEL B.V.
CONSOLIDATING STATEMENT OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 1994
(continued)
(in thousands)
Consolidated
Beheer-En
Belegginsmaatschappij
Bruwabel B.V.
<S> <C>
OTHER INCOME AND EXPENSES - NET
Allowance for equity funds used
during construction -
Post-in-service carrying costs -
Phase-in deferred return -
Income taxes (1)
Revenues - Sales services 1,519
Other revenue 3
Equity in earnings of subsidiaries -
Wage and salary expense (120)
Taxes other than income taxes (42)
Other operating expenses (1,476)
Depreciation expense (54)
Other nonoperating expense (38)
NET INCOME (LOSS) (209)
</TABLE>
<TABLE>
<CAPTION>
CINERGY CORP.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(dollars in thousands)
Consolidated
CINergy The Cincinnati Gas
CINergy Corp. Services, Inc. & Electric Company 1/
<S> <C> <C> <C>
ASSETS
UTILITY PLANT - ORIGINAL COST
In service
Electric - - $4,502,840
Gas - - 645,602
Common - - 185,718
- - 5,334,160
Accumulated depreciation - - 1,613,505
- - 3,720,655
Construction work in progress - - 74,989
Total utility plant - - 3,795,644
CURRENT ASSETS
Cash and temporary cash investments 11,430 - 52,516
Restricted deposits - - 98
Accounts receivable - net 441 - 265,132
Accounts receivable from associated companies 54,704 749 3,888
Materials, supplies, and fuel - at average cost
Fuel for use in electric production - - 42,167
Gas stored for current use - - 31,284
Other materials and supplies - - 57,864
Property taxes applicable to subsequent year - - 112,420
Prepayments and other - - 31,327
66,575 749 596,696
Other Assets
Regulatory assets
Post-in-service carrying costs and deferred
operating expenses - - 155,138
Phase-in deferred return and depreciation - - 100,943
Deferred demand-side management costs - - 10,002
Amounts due from customers - income taxes - - 381,380
Deferred merger costs - - 12,013
Unamortized costs of reacquiring debt - - 33,426
Other - - 55,987
Investment in subsidiaries 2,424,196 - -
Other 160 1 40,436
2,424,356 1 789,325
$2,490,931 $750 $5,181,665
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $.01 par value; authorized shares
- 600,000,000;outstanding shares - 155,198,038 $1,552 - -
Common stock of subsidiaries - - 762,136
Paid-in capital 1,535,658 - 337,874
Retained earnings (deficit) 877,061 - 432,962
Total common stock equity 2,414,271 - 1,532,972
CUMULATIVE PREFERRED STOCK OF SUBSIDIARIES
Not subject to mandatory redemption - - 80,000
Subject to mandatory redemption - - 210,000
LONG-TERM DEBT - - 1,837,757
Total capitalization 2,414,271 - 3,660,729
CURRENT LIABILITIES
Long-term debt due within one year - - -
Notes payable 75,000 - 14,500
Accounts payable 1,000 131 120,817
Accounts payable to associated companies - 619 -
Refund due to customers - - -
Litigation settlement - - -
Accrued taxes - - 227,651
Accrued interest 917 - 31,902
Other - - 32,658
76,917 750 427,528
OTHER LIABILITIES
Deferred income taxes (258) - 747,060
Unamortized investment tax credits - - 135,417
Accrued pension and other postretirement
benefit costs - - 102,254
Other 1 - 108,677
(257) - 1,093,408
$2,490,931 $750 $5,181,665
<FN>
1/ See accompanying consolidating balance sheets.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY CORP.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated
Consolidated CINergy
PSI Energy, Inc. 1/ Investments, Inc. 1/ Eliminations
<S> <C> <C> <C>
ASSETS
UTILITY PLANT - ORIGINAL COST
In service
Electric $3,789,785 - -
Gas - - -
Common - - -
3,789,785 - -
Accumulated depreciation 1,550,297 - -
2,239,488 - -
Construction work in progress 163,761 - -
Total utility plant 2,403,249 - -
CURRENT ASSETS
Cash and temporary cash investments 6,341 1,593 -
Restricted deposits 11,190 - -
Accounts receivable - net 32,030 1,906 -
Accounts receivable from associated companies 4,031 17 (63,389)
Materials, supplies, and fuel - at average cost
Fuel for use in electric production 113,861 - -
Gas stored for current use - - -
Other materials and supplies 29,363 5,653 -
Property taxes applicable to subsequent year - - -
Prepayments and other 4,758 331 -
201,574 9,500 (63,389)
Other Assets
Regulatory assets
Post-in-service carrying costs and deferred
operating expenses 30,142 - -
Phase-in deferred return and depreciation - - -
Deferred demand-side management costs 94,125 - -
Amounts due from customers - income taxes 27,134 - -
Deferred merger costs 37,645 - -
Unamortized costs of reacquiring debt 36,998 - -
Other 30,030 - -
Investment in subsidiaries - - (2,424,196)
Other 84,027 12,091 (2,434)
340,101 12,091 (2,426,630)
$2,944,924 $21,591 ($2,490,019)
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $.01 par value; authorized shares
- 600,000,000;outstanding shares - 155,198,038 - - -
Common stock of subsidiaries 539 - (762,675)
Paid-in capital 389,309 24,418 (751,601)
Retained earnings (deficit) 493,103 (13,108) (912,957)
Total common stock equity 882,951 11,310 (2,427,233)
CUMULATIVE PREFERRED STOCK OF SUBSIDIARIES
Not subject to mandatory redemption 187,929 - -
Subject to mandatory redemption - - -
LONG-TERM DEBT 877,512 - -
Total capitalization 1,948,392 11,310 (2,427,233)
CURRENT LIABILITIES
Long-term debt due within one year 60,400 - -
Notes payable 193,573 - (54,173)
Accounts payable 142,743 678 1,098
Accounts payable to associated companies 32 8,565 (9,216)
Refund due to customers 15,482 - -
Litigation settlement 80,000 - -
Accrued taxes 30,784 (394) -
Accrued interest 25,685 - -
Other 3,202 750 -
551,901 9,599 (62,291)
OTHER LIABILITIES
Deferred income taxes 324,738 59 (495)
Unamortized investment tax credits 60,461 - -
Accrued pension and other postretirement
benefit costs 31,324 - -
Other 28,108 623 -
444,631 682 (495)
$2,944,924 $21,591 ($2,490,019)
<FN>
1/ See accompanying consolidating balance sheets.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY CORP.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated
CINergy Corp.
<S> <C>
ASSETS
UTILITY PLANT - ORIGINAL COST
In service
Electric $8,292,625
Gas 645,602
Common 185,718
9,123,945
Accumulated depreciation 3,163,802
5,960,143
Construction work in progress 238,750
Total utility plant 6,198,893
CURRENT ASSETS
Cash and temporary cash investments 71,880
Restricted deposits 11,288
Accounts receivable - net 299,509
Accounts receivable from associated companies -
Materials, supplies, and fuel - at average cost
Fuel for use in electric production 156,028
Gas stored for current use 31,284
Other materials and supplies 92,880
Property taxes applicable to subsequent year 112,420
Prepayments and other 36,416
811,705
Other Assets
Regulatory assets
Post-in-service carrying costs and deferred
operating expenses 185,280
Phase-in deferred return and depreciation 100,943
Deferred demand-side management costs 104,127
Amounts due from customers - income taxes 408,514
Deferred merger costs 49,658
Unamortized costs of reacquiring debt 70,424
Other 86,017
Investment in subsidiaries -
Other 134,281
1,139,244
$8,149,842
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $.01 par value; authorized shares
- 600,000,000;outstanding shares - 155,198,038 $1,552
Common stock of subsidiaries -
Paid-in capital 1,535,658
Retained earnings (deficit) 877,061
Total common stock equity 2,414,271
CUMULATIVE PREFERRED STOCK OF SUBSIDIARIES
Not subject to mandatory redemption 267,929
Subject to mandatory redemption 210,000
LONG-TERM DEBT 2,715,269
Total capitalization 5,607,469
CURRENT LIABILITIES
Long-term debt due within one year 60,400
Notes payable 228,900
Accounts payable 266,467
Accounts payable to associated companies -
Refund due to customers 15,482
Litigation settlement 80,000
Accrued taxes 258,041
Accrued interest 58,504
Other 36,610
1,004,404
OTHER LIABILITIES
Deferred income taxes 1,071,104
Unamortized investment tax credits 195,878
Accrued pension and other postretirement
benefit costs 133,578
Other 137,409
1,537,969
$8,149,842
<FN>
1/ See accompanying consolidating balance sheets.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(dollars in thousands)
The Union Light,
The Cincinnati Gas Heat and Lawrenceburg
& Electric Company Power Company Gas Company
<S> <C> <C> <C>
ASSETS
UTILITY PLANT - ORIGINAL COST
In service
Electric $4,322,651 $179,098 -
Gas 498,391 134,103 13,108
Common 166,596 19,122 -
4,987,638 332,323 13,108
Accumulated depreciation 1,505,397 104,113 3,283
3,482,241 228,210 9,825
Construction work in progress 66,081 8,638 270
Total utility plant 3,548,322 236,848 10,095
CURRENT ASSETS
Cash and temporary cash investments 51,228 1,071 110
Restricted deposits 98 - -
Accounts receivable - net 229,957 33,892 1,138
Accounts receivable from associated companies 21,073 - -
Materials, supplies, and fuel - at average cost
Fuel for use in electric production 42,167 - -
Gas stored for current use 25,053 6,216 15
Other materials and supplies 56,458 1,406 -
Property taxes applicable to subsequent year 110,220 2,200 -
Prepayments and other 30,711 593 23
566,965 45,378 1,286
OTHER ASSETS
Regulatory assets
Post-in-service carrying costs and
deferred operating expenses 155,138 - -
Phase-in deferred return and depreciation 100,943 - -
Deferred demand-side management costs 10,002 - -
Amounts due from customers - income taxes 381,367 - -
Deferred merger costs 10,228 1,785 -
Unamortized costs of reacquiring debt 33,418 - 8
Other 53,273 2,718 -
Investment in subsidiaries 78,413 - -
Other 64,166 399 516
886,948 4,902 524
$5,002,235 $287,128 $11,905
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $8.50 par value;authorized shares
- 120,000,000;outstanding shares - 89,663,086 $762,136 - -
Common stock of subsidiaries - 8,780 539
Paid-in capital 337,874 18,839 -
Retained earnings (deficit) 432,962 74,203 4,497
Total common stock equity 1,532,972 101,822 5,036
CUMULATIVE PREFERRED STOCK
Not subject to mandatory redemption 80,000 - -
Subject to mandatory redemption 210,000 - -
LONG-TERM DEBT 1,747,319 89,238 1,200
Total capitalization 3,570,291 191,060 6,236
CURRENT LIABILITIES
Notes payable - 14,500 -
Accounts payable 112,291 6,048 455
Accounts payable to associated companies - 15,607 1,544
Accrued taxes 224,255 2,876 315
Accrued interest 29,746 2,123 32
Other 28,397 4,123 132
394,689 45,277 2,478
OTHER LIABILITIES
Deferred income taxes 721,102 23,226 635
Unamortized investment tax credits 129,790 5,364 247
Accrued pension and other postretirement
benefit costs 91,483 10,356 400
Other 94,880 11,845 1,909
1,037,255 50,791 3,191
$5,002,235 $287,128 $11,905
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
The West
Harrison Gas and Miami Tri-State
Electric Company Power Corp. Improvement Co.
<S> <C> <C> <C>
ASSETS
UTILITY PLANT - ORIGINAL COST
In service
Electric $528 $563 -
Gas - - -
Common - - -
528 563 -
Accumulated depreciation 160 552 -
368 11 -
Construction work in progress - - -
Total utility plant 368 11 -
CURRENT ASSETS
Cash and temporary cash investments 21 30 56
Restricted deposits - - -
Accounts receivable - net 79 - 66
Accounts receivable from associated companies - 1 74
Materials, supplies, and fuel - at average cost
Fuel for use in electric production - - -
Gas stored for current use - - -
Other materials and supplies - - -
Property taxes applicable to subsequent year - - -
Prepayments and other - - -
100 31 196
OTHER ASSETS
Regulatory assets
Post-in-service carrying costs and
deferred operating expenses - - -
Phase-in deferred return and depreciation - - -
Deferred demand-side management costs - - -
Amounts due from customers - income taxes 13 - -
Deferred merger costs - - -
Unamortized costs of reacquiring debt - - -
Other - - -
Investment in subsidiaries - - -
Other - 33 26,501
13 33 26,501
$481 $75 $26,697
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $8.50 par value;authorized shares
- 120,000,000;outstanding shares - 89,663,086 - - -
Common stock of subsidiaries 20 1 25
Paid-in capital - - -
Retained earnings (deficit) 248 34 (105)
Total common stock equity 268 35 (80)
CUMULATIVE PREFERRED STOCK
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
LONG-TERM DEBT - - 22,481
Total capitalization 268 35 22,401
CURRENT LIABILITIES
Notes payable - - -
Accounts payable - - 2,023
Accounts payable to associated companies 109 - -
Accrued taxes 1 3 201
Accrued interest 1 - -
Other 6 - -
117 3 2,224
OTHER LIABILITIES
Deferred income taxes 67 - 2,062
Unamortized investment tax credits 15 1 -
Accrued pension and other postretirement
benefit costs 11 4 -
Other 3 32 10
96 37 2,072
$481 $75 $26,697
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated
KO The Cincinnati Gas
Transmission Co. Eliminations & Electric Company
<S> <C> <C> <C>
ASSETS
UTILITY PLANT - ORIGINAL COST
In service
Electric - - $4,502,840
Gas - - 645,602
Common - - 185,718
- - 5,334,160
Accumulated depreciation - - 1,613,505
- - 3,720,655
Construction work in progress - - 74,989
Total utility plant - - 3,795,644
CURRENT ASSETS
Cash and temporary cash investments - 52,516
Restricted deposits - - 98
Accounts receivable - net - - 265,132
Accounts receivable from associated companies - (17,260) 3,888
Materials, supplies, and fuel - at average cost
Fuel for use in electric production - - 42,167
Gas stored for current use - - 31,284
Other materials and supplies - - 57,864
Property taxes applicable to subsequent year - - 112,420
Prepayments and other - - 31,327
- (17,260) 596,696
OTHER ASSETS
Regulatory assets
Post-in-service carrying costs and
deferred operating expenses - - 155,138
Phase-in deferred return and depreciation - - 100,943
Deferred demand-side management costs - - 10,002
Amounts due from customers - income taxes - - 381,380
Deferred merger costs - - 12,013
Unamortized costs of reacquiring debt - - 33,426
Other - (4) 55,987
Investment in subsidiaries - (78,413) -
Other - (51,179) 40,436
- (129,596) 789,325
- ($146,856) $5,181,665
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $8.50 par value;authorized shares
- 120,000,000;outstanding shares - 89,663,086 - - $762,136
Common stock of subsidiaries - (9,365) -
Paid-in capital - (18,839) 337,874
Retained earnings (deficit) - (78,877) 432,962
Total common stock equity - (107,081) 1,532,972
CUMULATIVE PREFERRED STOCK
Not subject to mandatory redemption - - 80,000
Subject to mandatory redemption - - 210,000
LONG-TERM DEBT - (22,481) 1,837,757
Total capitalization - (129,562) 3,660,729
CURRENT LIABILITIES
Notes payable - - 14,500
Accounts payable - - 120,817
Accounts payable to associated companies - (17,260) -
Accrued taxes - - 227,651
Accrued interest - - 31,902
Other - - 32,658
- (17,260) 427,528
OTHER LIABILITIES
Deferred income taxes - (32) 747,060
Unamortized investment tax credits - - 135,417
Accrued pension and other postretirement
benefit costs - - 102,254
Other - (2) 108,677
- (34) 1,093,408
- ($146,856) $5,181,665
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PSI ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(dollars in thousands)
PSI Energy
PSI Energy, Inc. Argentina, Inc. Eliminations
<S> <C> <C> <C>
ASSETS
ELECTRIC UTILITY - ORIGINAL SERVICE
In service $3,789,785 - -
Accumulated depreciation 1,550,297 - -
2,239,488 - -
Construction work in progress 163,761 - -
Total utility plant 2,403,249 - -
CURRENT ASSETS
Cash and temporary cash investments 6,341 - -
Restricted deposits 11,190 - -
Accounts receivable - net 36,061 - -
Materials, supplies, and fuel - at average cost
Fuel for use in electric production 113,861 - -
Other materials and supplies 29,363 - -
Prepayments and other 4,758 - -
201,574 - -
OTHER ASSETS
Regulatory assets
Post-in-service carrying costs and deferred
operating expenses 30,142 - -
Deferred demand-side management costs 94,125 - -
Amounts due from customers - income taxes 27,134 - -
Deferred merger costs 37,645 - -
Unamortized loss on reacquired debt 36,998 - -
Other 30,030 - -
Investment in subsidiary 10,705 (10,705)
Other 73,322 10,705 -
340,101 10,705 (10,705)
$2,944,924 $10,705 ($10,705)
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock-$.01 stated value;authorized shares
- 60,000,000;outstanding shares - 53,913,701 $539 - -
Paid-in capital 389,309 10,705 (10,705)
Retained earnings 493,103 - -
Total common stock equity 882,951 10,705 (10,705)
CUMULATIVE PREFERRED STOCK - NOT
SUBJECT TO MANDATORY REDEMPTION 187,929 - -
LONG-TERM DEBT 877,512 - -
Total capitalization 1,948,392 10,705 (10,705)
CURRENT LIABILITIES
Long-term debt due within one year 60,400 - -
Notes payable 193,573 - -
Accounts payable 142,775 - -
Refund due to customers 15,482 - -
Litigation settlement 80,000 - -
Accrued taxes 30,784 - -
Accrued interest 25,685 - -
Other 3,202 - -
551,901 - -
OTHER LIABILITIES
Deferred income taxes 324,738 - -
Unamortized investment tax credits 60,461 - -
Accrued pension and other postretirement
benefit costs 31,324 - -
Other 28,108 - -
444,631 - -
$2,944,924 $10,705 ($10,705)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PSI ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated
PSI Energy, Inc.
<S> <C>
ASSETS
ELECTRIC UTILITY - ORIGINAL SERVICE
In service $3,789,785
Accumulated depreciation 1,550,297
2,239,488
Construction work in progress 163,761
Total utility plant 2,403,249
CURRENT ASSETS
Cash and temporary cash investments 6,341
Restricted deposits 11,190
Accounts receivable - net 36,061
Materials, supplies, and fuel - at average cost
Fuel for use in electric production 113,861
Other materials and supplies 29,363
Prepayments and other 4,758
201,574
OTHER ASSETS
Regulatory assets
Post-in-service carrying costs and deferred
operating expenses 30,142
Deferred demand-side management costs 94,125
Amounts due from customers - income taxes 27,134
Deferred merger costs 37,645
Unamortized loss on reacquired debt 36,998
Other 30,030
Investment in subsidiary -
Other 84,027
340,101
$2,944,924
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock-$.01 stated value;authorized shares
- 60,000,000;outstanding shares - 53,913,701 $539
Paid-in capital 389,309
Retained earnings 493,103
Total common stock equity 882,951
CUMULATIVE PREFERRED STOCK - NOT
SUBJECT TO MANDATORY REDEMPTION 187,929
LONG-TERM DEBT 877,512
Total capitalization 1,948,392
CURRENT LIABILITIES
Long-term debt due within one year 60,400
Notes payable 193,573
Accounts payable 142,775
Refund due to customers 15,482
Litigation settlement 80,000
Accrued taxes 30,784
Accrued interest 25,685
Other 3,202
551,901
OTHER LIABILITIES
Deferred income taxes 324,738
Unamortized investment tax credits 60,461
Accrued pension and other postretirement
benefit costs 31,324
Other 28,108
444,631
$2,944,924
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(dollars in thousands)
Power
CINergy Equipment Wholesale Power
Investments, Inc. Supply Co. Services, Inc.
<S> <C> <C> <C>
ASSETS
CURRENT ASSETS
Cash and temporary cash investments 3 - -
Accounts receivable - net 44 1,228 (23)
Accounts receivable from associated companies - - -
Materials and supplies - at average cost - 5,451 -
Prepayments and other - - -
47 6,679 (23)
OTHER ASSETS
Investment in subsidiaries 11,695 - -
Other 31 248 418
11,726 248 418
$11,773 $6,927 $395
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $.01 par value; authorized and
outstanding shares - 100 - - -
Common stock of subsidiaries - - -
Paid-in capital 24,418 4,563 985
Retained earnings (deficit) (13,108) 1,979 (762)
Total common stock equity 11,310 6,542 223
CURRENT LIABILITIES
Accounts payable 129 265 17
Accounts payable to associated companies 398 209 178
Accrued taxes (5) 8 (1)
Other - - -
522 482 194
OTHER LIABILITIES
Deferred income taxes (60) (101) (24)
Other 1 4 2
(59) (97) (22)
$11,773 $6,927 $395
<FN>
1/ See accompanying consolidating balance sheets.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated Consolidated
PSI PSI Power
Recycling, Inc. Argentina, Inc. 1/ International, Inc. 1/
<S> <C> <C> <C>
ASSETS
CURRENT ASSETS
Cash and temporary cash investments 5 - 1,574
Accounts receivable - net 436 122 99
Accounts receivable from associated companies 17 - -
Materials and supplies - at average cost 202 - -
Prepayments and other 29 296 6
689 418 1,679
OTHER ASSETS
Investment in subsidiaries - - -
Other 1,006 9,752 351
1,006 9,752 351
$1,695 $10,170 $2,030
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $.01 par value; authorized and
outstanding shares - 100 - - -
Common stock of subsidiaries - - 50
Paid-in capital 1,434 9,587 -
Retained earnings (deficit) (25) 64 (5,328)
Total common stock equity 1,409 9,651 (5,278)
CURRENT LIABILITIES
Accounts payable 179 66 22
Accounts payable to associated companies - 136 6,257
Accrued taxes (2) 7 (162)
Other - - 750
177 209 6,867
OTHER LIABILITIES
Deferred income taxes 109 135 -
Other - 175 441
109 310 441
$1,695 $10,170 $2,030
<FN>
1/ See accompanying consolidating balance sheets.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
CG&E
Resource
Marketing, Inc. CGE ECK, Inc. Eliminations
<S> <C> <C> <C>
ASSETS
CURRENT ASSETS
Cash and temporary cash investments 5 6 -
Accounts receivable - net - - -
Accounts receivable from associated companies - - -
Materials and supplies - at average cost - - -
Prepayments and other - - -
5 6 -
OTHER ASSETS
Investment in subsidiaries - - (11,695)
Other 285 - -
285 - (11,695)
$290 $6 ($11,695)
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $.01 par value; authorized and
outstanding shares - 100 - - -
Common stock of subsidiaries - - (50)
Paid-in capital - - (16,569)
Retained earnings (deficit) (421) (431) 4,924
Total common stock equity (421) (431) (11,695)
CURRENT LIABILITIES
Accounts payable - - -
Accounts payable to associated companies 736 651 -
Accrued taxes (25) (214) -
Other - - -
711 437 -
OTHER LIABILITIES
Deferred income taxes - - -
Other - - -
- - -
$290 $6 ($11,695)
<FN>
1/ See accompanying consolidating balance sheets.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated
CINergy
Investments, Inc.
<S> <C>
ASSETS
CURRENT ASSETS
Cash and temporary cash investments 1,593
Accounts receivable - net 1,906
Accounts receivable from associated companies 17
Materials and supplies - at average cost 5,653
Prepayments and other 331
9,500
OTHER ASSETS
Investment in subsidiaries -
Other 12,091
12,091
$21,591
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $.01 par value; authorized and
outstanding shares - 100 -
Common stock of subsidiaries -
Paid-in capital 24,418
Retained earnings (deficit) (13,108)
Total common stock equity 11,310
CURRENT LIABILITIES
Accounts payable 678
Accounts payable to associated companies 8,565
Accrued taxes (394)
Other 750
9,599
OTHER LIABILITIES
Deferred income taxes 59
Other 623
682
$21,591
<FN>
1/ See accompanying consolidating balance sheets.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PSI ARGENTINA, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(dollars in thousands)
PSI Costanera
Argentina, Inc. Power Corp. Eliminations
<S> <C> <C> <C>
ASSETS
CURRENT ASSETS
Accounts receivable - net 122 - -
Prepayments and other 296 - -
418 - -
OTHER ASSETS
Investment in subsidiary 9,786 (9,786)
Other (34) 9,786 -
9,752 9,786 (9,786)
$10,170 $9,786 ($9,786)
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - no par value; authorized shares -
100,000,000; outstanding shares - 100 - - -
Paid-in capital 9,587 9,786 (9,786)
Retained earnings 64 - -
Total common stock equity 9,651 9,786 (9,786)
CURRENT LIABILITIES
Accounts payable 202 - -
Accrued taxes 7 - -
209 - -
OTHER LIABILITIES
Deferred income taxes 135 - -
Other 175 - -
310 - -
$10,170 $9,786 ($9,786)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PSI ARGENTINA, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated
PSI
Argentina, Inc.
<S> <C>
ASSETS
CURRENT ASSETS
Accounts receivable - net 122
Prepayments and other 296
418
OTHER ASSETS
Investment in subsidiary -
Other 9,752
9,752
$10,170
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - no par value; authorized shares -
100,000,000; outstanding shares - 100 -
Paid-in capital 9,587
Retained earnings 64
Total common stock equity 9,651
CURRENT LIABILITIES
Accounts payable 202
Accrued taxes 7
209
OTHER LIABILITIES
Deferred income taxes 135
Other 175
310
$10,170
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
POWER INTERNATIONAL, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(dollars in thousands)
Consolidated
Beheer-En
Power Belegginsmaatschappij
International, Inc. Bruwabel B.V. 1/ Eliminations
<S> <C> <C> <C>
ASSETS
CURRENT ASSETS
Cash and temporary cash investments $1,574 $118 ($118)
Accounts receivable - net 99 865 (865)
Prepayments and other 6 123 (123)
1,679 1,106 (1,106)
OTHER ASSETS
Property and investments - net (1,546) 140 (140)
Other 1,897 1 (1)
351 141 (141)
$2,030 $1,247 ($1,247)
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $500 stated value; authorized
shares - 750; outstanding shares - 100 $50 - -
Common stock of subsidiaries - 24 (24)
Paid-in capital - 98 (98)
Retained earnings (deficit) (5,328) (161) 161
Total common stock equity (5,278) (39) 39
CURRENT LIABILITIES
Accounts payable 6,279 963 (963)
Accrued taxes (162) (30) 30
Other 750 67 (67)
6,867 1,000 (1,000)
OTHER LIABILITIES 441 286 (286)
$2,030 $1,247 ($1,247)
<FN>
1/ See accompanying consolidating balance sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
POWER INTERNATIONAL, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated
Power
International, Inc.
<S> <C>
ASSETS
CURRENT ASSETS
Cash and temporary cash investments $1,574
Accounts receivable - net 99
Prepayments and other 6
1,679
OTHER ASSETS
Property and investments - net (1,546)
Other 1,897
351
$2,030
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - $500 stated value; authorized
shares - 750; outstanding shares - 100 $50
Common stock of subsidiaries -
Paid-in capital -
Retained earnings (deficit) (5,328)
Total common stock equity (5,278)
CURRENT LIABILITIES
Accounts payable 6,279
Accrued taxes (162)
Other 750
6,867
OTHER LIABILITIES 441
$2,030
<FN>
1/ See accompanying consolidating balance sheet.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
BEHEER-EN BELEGGINSMAATSCHAPPIJ BRUWABEL B.V.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(dollars in thousands)
Beheer-En
Belegginsmaatschappij Power Power
Bruwabel B.V. International s.r.o. Development s.r.o.
<S> <C> <C> <C>
ASSETS
CURRENT ASSETS
Cash and temporary cash investments 7 107 4
Accounts receivable - net 1 864 -
Prepayments - 123 -
8 1,094 4
OTHER ASSETS
Investment in subsidiaries (50) - -
Property and investments - net - 140 -
Other 7 1 -
(43) 141 -
($35) $1,235 $4
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - 125 Dutch Guilders stated value;
authorized shares-400;outstanding shares-321 $24 - -
Equity of subsidiaries - 3 4
Paid-in capital 98 1 -
Retained earnings (deficit) (161) (51) -
Total common stock equity (39) (47) 4
CURRENT LIABILITIES
Accounts payable - 963 -
Accrued taxes - (30) -
Other 4 63 -
4 996 -
OTHER LIABILITIES - 286 -
($35) $1,235 $4
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
BEHEER-EN BELEGGINSMAATSCHAPPIJ BRUWABEL B.V.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(continued)
(dollars in thousands)
Consolidated
Beheer-En
Belegginsmaatschappij
Eliminations Bruwabel B.V.
<S> <C> <C>
ASSETS
CURRENT ASSETS
Cash and temporary cash investments - 118
Accounts receivable - net - 865
Prepayments - 123
- 1,106
OTHER ASSETS
Investment in subsidiaries 50 -
Property and investments - net - 140
Other (7) 1
43 141
$43 $1,247
CAPITALIZATION AND LIABILITIES
COMMON STOCK EQUITY
Common stock - 125 Dutch Guilders stated value;
authorized shares-400;outstanding shares-321 - $24
Equity of subsidiaries (7) -
Paid-in capital (1) 98
Retained earnings (deficit) 51 (161)
Total common stock equity 43 (39)
CURRENT LIABILITIES
Accounts payable - 963
Accrued taxes - (30)
Other - 67
- 1,000
OTHER LIABILITIES - 286
$43 $1,247
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY CORP.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(in thousands)
Consolidated
CINergy The Cincinnati Gas
CINergy Corp. Services, Inc. & Electric Company 1/
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 $907,802 - $456,511
Net income (loss) 191,142 - 158,311
Dividends on preferred stock - - (22,377)
Dividends on common stock (221,362) - (158,970)
Other (521) - (513)
BALANCE AT DECEMBER 31, 1994 $877,061 - $432,962
<FN>
1/ See accompanying consolidating statements of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY CORP.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
Consolidated
Consolidated CINergy
PSI Energy, Inc. Investments, Inc. 1/ Eliminations
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 $483,242 ($4,692) ($935,061)
Net income (loss) 82,192 (8,416) (232,087)
Dividends on preferred stock (13,182) - 35,559
Dividends on common stock (59,142) - 218,112
Other (7) - 520
BALANCE AT DECEMBER 31, 1994 $493,103 ($13,108) ($912,957)
<FN>
1/ See accompanying consolidating statements of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY CORP.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
Consolidated
CINergy Corp.
<S> <C>
BALANCE AT DECEMBER 31, 1993 $907,802
Net income (loss) 191,142
Dividends on preferred stock -
Dividends on common stock (221,362)
Other (521)
BALANCE AT DECEMBER 31, 1994 $877,061
<FN>
1/ See accompanying consolidating statements of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(in thousands)
The Union Light,
The Cincinnati Gas Heat and Lawrenceburg
& Electric Company Power Company Gas Company
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 $456,511 $69,327 $4,137
Net income (loss) 158,311 8,387 360
Dividends on preferred stock (22,377) - -
Dividends on common stock (158,970) (3,511) -
Other (513) - -
BALANCE AT DECEMBER 31, 1994 $432,962 $74,203 $4,497
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
The West
Harrison Gas and Miami Tri-State
Electric Company Power Corp. Improvement Co.
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 $235 $35 ($197)
Net income (loss) 13 2 92
Dividends on preferred stock - - -
Dividends on common stock - (3) -
Other - - -
BALANCE AT DECEMBER 31, 1994 $248 $34 ($105)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE CINCINNATI GAS & ELECTRIC COMPANY
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
Consolidated
KO The Cincinnati Gas
Transmission Co. Eliminations & Electric Company
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 - ($73,537) $456,511
Net income (loss) - (8,854) 158,311
Dividends on preferred stock - - (22,377)
Dividends on common stock - 3,514 (158,970)
Other - - (513)
BALANCE AT DECEMBER 31, 1994 - ($78,877) $432,962
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(in thousands)
Power
CINergy Equipment Wholesale Power
Investments, Inc. Supply Co. Services, Inc.
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 ($4,692) $2,464 ($193)
Net income (loss) (8,416) (485) (569)
BALANCE AT DECEMBER 31, 1994 ($13,108) $1,979 ($762)
<FN>
1/ See accompanying consolidating statements of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
Consolidated Consolidated
PSI PSI Power
Recycling, Inc. Argentina, Inc. International, Inc. 1/
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 ($59) ($111) -
Net income (loss) 34 175 (5,328)
BALANCE AT DECEMBER 31, 1994 ($25) $64 ($5,328)
<FN>
1/ See accompanying consolidating statements of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
CG&E
Resource
Marketing, Inc. CGE ECK, Inc. Eliminations
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 - - ($2,101)
Net income (loss) (421) (431) 7,025
BALANCE AT DECEMBER 31, 1994 ($421) ($431) $4,924
<FN>
1/ See accompanying consolidating statements of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CINERGY INVESTMENTS, INC.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
Consolidated
CINergy
Investments, Inc.
<S> <C>
BALANCE AT DECEMBER 31, 1993 ($4,692)
Net income (loss) (8,416)
BALANCE AT DECEMBER 31, 1994 ($13,108)
<FN>
1/ See accompanying consolidating statement of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
POWER INTERNATIONAL, INC.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(in thousands)
Consolidated
Beheer-En
Power Belegginsmaatschappij
International, Inc. Bruwabel B.V. 1/ Eliminations
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 - $48 ($48)
Net income (loss) (5,328) (209) 209
BALANCE AT DECEMBER 31, 1994 ($5,328) ($161) $161
<FN>
1/ See accompanying consolidating statement of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
POWER INTERNATIONAL, INC.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
Consolidated
Power
International, Inc.
<S> <C>
BALANCE AT DECEMBER 31, 1993 -
Net income (loss) (5,328)
BALANCE AT DECEMBER 31, 1994 ($5,328)
<FN>
1/ See accompanying consolidating statement of changes in retained earnings.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
BEHEER-EN BELEGGINSMAATSCHAPPIJ BRUWABEL, B.V.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(in thousands)
Beheer-En
Belegginsmaatschappij Power Power
Bruwabel B.V. International s.r.o. Development s.r.o.
<S> <C> <C> <C>
BALANCE AT DECEMBER 31, 1993 $48 $73 -
Net income (loss) (209) (124) -
BALANCE AT DECEMBER 31, 1994 ($161) ($51) -
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
BEHEER-EN BELEGGINSMAATSCHAPPIJ BRUWABEL, B.V.
CONSOLIDATING STATEMENT OF
CHANGES IN RETAINED EARNINGS
(continued)
(in thousands)
Consolidated
Beheer-En
Belegginsmaatschappij
Eliminations Bruwabel B.V.
<S> <C> <C>
BALANCE AT DECEMBER 31, 1993 ($73) $48
Net income (loss) 124 (209)
BALANCE AT DECEMBER 31, 1994 $51 ($161)
</TABLE>
<PAGE>
NOTES TO CONSOLIDATING FINANCIAL STATEMENTS
1. The Notes to the Financial Statements included in the following documents
are hereby incorporated by reference as notes to these Consolidating
Financial Statements:
a) Annual Report of CINergy Corp. on Form 10-K for the year ended
December 31, 1994 (File No. 1-11377).
b) Annual Report of The Cincinnati Gas & Electric Company on Form 10-K for
the year ended December 31, 1994 (File No. 1-1232).
c) Annual Report of PSI Energy, Inc. on Form 10-K for the year ended
December 31, 1994 (File No. 1-3543).
d) Annual Report of The Union Light, Heat and Power Company for the year
ended December 31, 1994 (File No. 2-7793).
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
BALANCE SHEETS AND STATEMENTS OF INCOME AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<CIK> 0000899652
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210,000
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<CIK> 0000899652
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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</LEGEND>
<CIK> 0000899652
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<SUBSIDIARY>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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</LEGEND>
<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
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<TOTAL-OPERATING-EXPENSES> 974,318
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13,182
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<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
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</LEGEND>
<CIK> 0000899652
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<TOTAL-OPERATING-EXPENSES> 974,318
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13,182
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<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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</LEGEND>
<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
<NUMBER> 5
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
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<NAME> THE UNION LIGHT, HEAT AND POWER CO.
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
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<NAME> MIAMI POWER CORP.
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
<NUMBER> 11
<NAME> KO TRANSMISSION CO.
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
<NUMBER> 12
<NAME> TRI-STATE IMPROVEMENT CO.
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
<NUMBER> 13
<NAME> CINERGY INVESTMENTS, INC. (CONSOLIDATED)
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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</LEGEND>
<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
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<NAME> CINERGY INVESTMENTS, INC.
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
<NAME> CINERGY CORP.
<SUBSIDIARY>
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<CIK> 0000899652
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