FILE NO.
AMENDMENT TO
FORM U-3A-2
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
AMENDMENT TO STATEMENT BY HOLDING COMPANY CLAIMING
EXEMPTION UNDER RULE U-2 FROM THE PROVISIONS OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
SOUTH JERSEY INDUSTRIES, INC.
hereby files with the Securities and Exchange Commission,
this Amendment No. 2 to its statement claiming exemption as a
holding company from the provisions of the Public Utility
Holding Company Act of 1935 pursuant to Rule U-2. The
following information is added to its Form U-3A-2 which was
filed on February 25, 1994 and first amended by an amendment
filed May 5, 1994.
EXHIBIT A
Consolidating statements of income and retained earnings
of R&T Group, Inc. and its subsidiary companies for the last
calendar year, together with a consolidating balance sheet of
R&T Group, Inc. and its subsidiary companies as of the close
of such calendar year.
The above-named claimant has caused this amendment to be
duly executed on its behalf by its authorized officer on this
21st day of July, 1994.
SOUTH JERSEY INDUSTRIES, INC.
BY /s/ Richard B. Tonielli
RICHARD B. TONIELLI
Treasurer
CORPORATE SEAL
ATTEST:
/s/ George L. Baulig
GEORGE L. BAULIG
Secretary and Assistant Treasurer
Name, title and address of officer to whom notices
and correspondence concerning this statement should be
addressed:
Richard B. Tonielli, Treasurer
South Jersey Industries, Inc.
Number One South Jersey Plaza
Route 54
Folsom, New Jersey 08037
<TABLE>
R & T GROUP, INC. AND SUBSIDIARIES
CONSOLIDATING STATEMENTS OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1993
<CAPTION>
S. W. DOWNER R AND T ONSHORE
R & T GROUP, JR. COMPANY, CASTELLINI CONSTRUCTION
INC. INC. COMPANY, INC. COMPANY, INC. SUB-TOTAL
<S> <C> <C> <C> <C> <C>
OPERATING REVENUES
Nonutility $531,550 $4,992,195 $4,196,449 $2,305,666 $12,025,860
-------------- -------------- -------------- -------------- --------------
OPERATING EXPENSE
Operation - Nonutility 566,534 4,120,828 2,827,991 3,056,910 10,572,263
Maintenance 0 217,127 241,172 50,013 508,312
Depreciation 0 215,970 229,311 199,223 644,504
Current Federal Income Taxes (220,580) 76,294 210,632 (237,824) (171,478)
Deferred Federal Income Taxes (134,503) 10,661 20,444 (128,293) (231,691)
Other Taxes 16,363 222,905 228,097 87,168 554,533
-------------- -------------- -------------- -------------- --------------
Total Operating Expenses 227,814 4,863,785 3,757,647 3,027,197 11,876,443
-------------- -------------- -------------- -------------- --------------
Operating Income (Loss) 303,736 128,410 438,802 (721,531) 149,417
OTHER INCOME (LOSS)
Dividends from Subsidiaries 900,000 0 0 0 900,000 [A]
Equity in Net Undistributed
Losses of Subs (1,370,969) 0 0 0 (1,370,969)[A]
-------------- -------------- -------------- -------------- --------------
Income (Loss) Before Interest Charges (167,233) 128,410 438,802 (721,531) (321,552)
-------------- -------------- -------------- -------------- --------------
INTEREST CHARGES
Long-Term Debt 974,048 0 0 0 974,048
Short-Term Debt 16,620 0 0 53,513 70,133
-------------- -------------- -------------- -------------- --------------
Total Interest Charges 990,668 0 0 53,513 1,044,181
-------------- -------------- -------------- -------------- --------------
Income (Loss) before Cum. Effect
of a Change in Accounting Principle (1,157,901) 128,410 438,802 (775,044) (1,365,733)
Cumulative Effect of a Change in
Accounting Principle (3,823) (25,927) (26,076) (32,176) (88,002)
-------------- -------------- -------------- -------------- --------------
Income (Loss) Applicable to Common Stoc (1,161,724) 102,483 412,726 (807,220) (1,453,735)
Retained Earnings (Deficit) at
Beginning of Period (1,163,572) 460,625 374,923 (1,103,139) (1,431,163)[A]
Dividends Declared - Cash 0 (350,000) (550,000) 0 (900,000)[A]
-------------- -------------- -------------- -------------- --------------
Retained Earnings (Deficit) at
End of Period ($2,325,296) $213,108 $237,649 ($1,910,359) ($3,784,898)
============== ============== ============== ============== ==============
R & T GROUP, INC. AND SUBSIDIARIES
CONSOLIDATING STATEMENTS OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1993
SUB-TOTAL CAPE ATLANTIC R&T CASTELLINI
FROM PRIOR CRANE CONSTRUCTION CONSOLIDATED
PAGE COMPANY, INC. COMPANY, INC. ELIMINATIONS TOTAL
OPERATING REVENUES
Nonutility $12,025,860 $245,473 $669,791 $0 $12,941,124
-------------- -------------- -------------- -------------- --------------
OPERATING EXPENSE
Operation - Nonutility 10,572,263 218,247 775,031 0 11,565,541
Maintenance 508,312 40,662 13,726 0 562,700
Depreciation 644,504 57,341 38,267 0 740,112
Current Federal Income Taxes (171,478) (23,144) (42,381) 0 (237,003)
Deferred Federal Income Taxes (231,691) 839 (19,730) 0 (250,582)
Other Taxes 554,533 (5,361) 26,645 0 575,817
-------------- -------------- -------------- -------------- --------------
Total Operating Expenses 11,876,443 288,584 791,558 0 12,956,585
-------------- -------------- -------------- -------------- --------------
Operating Income (Loss) 149,417 (43,111) (121,767) 0 (15,461)
OTHER INCOME (LOSS)
Dividends from Subsidiaries 900,000 0 0 (900,000) 0
Equity in Net Undistributed
Losses of Subs (1,370,969) 0 0 1,370,969 0
-------------- -------------- -------------- -------------- --------------
Income (Loss) Before Interest Charges (321,552) (43,111) (121,767) 470,969 (15,461)
-------------- -------------- -------------- -------------- --------------
INTEREST CHARGES
Long-Term Debt 974,048 0 0 0 974,048
Short-Term Debt 70,133 226 2,294 0 72,653
-------------- -------------- -------------- -------------- --------------
Total Interest Charges 1,044,181 226 2,294 0 1,046,701
-------------- -------------- -------------- -------------- --------------
Income (Loss) before Cum. Effect
of a Change in Accounting Principle (1,365,733) (43,337) (124,061) 470,969 (1,062,162)
Cumulative Effect of a Change in
Accounting Principle (88,002) (11,560) 0 0 (99,562)
-------------- -------------- -------------- -------------- --------------
Income (Loss) Applicable to Common Stoc (1,453,735) (54,897) (124,061) 470,969 (1,161,724)
Retained Earnings (Deficit) at
Beginning of Period (1,431,163) (160,125) 0 427,716 (1,163,572)
Dividends Declared - Cash (900,000) 0 0 900,000 0
-------------- -------------- -------------- -------------- --------------
Retained Earnings (Deficit) at
End of Period ($3,784,898) ($215,022) ($124,061) $1,798,685 ($2,325,296)
============== ============== ============== ============== ==============
</TABLE>
<TABLE>
R&T GROUP, INC. AND SUBSIDIARIES
CONSOLIDATING ADJUSTMENTS & ELIMINATIONS
STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1993
<S> <C> <C>
[A] Dividends from Subsidiaries 900,000
Investments in Subsidiaries 1,370,969
Equity in Undistributed Earnings of Subsidiaries 1,370,969
Dividends Paid - Cash 900,000
To eliminate inter-company dividends and undistributed
earnings of subsidiaries
Investment in Subsidiaries 427,716
Deficit - January 1, 1993 427,716
To eliminate the deficit of subsidiaries at 1/1/93
previously recorded by R&T Group, Inc. under the equity
method of accounting.
</TABLE>
<TABLE>
R & T GROUP, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 1993
<CAPTION>
S. W. DOWNER R AND T ONSHORE
R & T GROUP, JR. COMPANY, CASTELLINI CONSTRUCTION
INC. INC. COMPANY, INC. COMPANY, INC. SUB-TOTAL
<S> <C> <C> <C> <C> <C>
ASSETS
NONUTILITY PROPERTY, PLANT & EQUIPMENT
AT COST
Land and Improvements $0 $188,712 $53,548 $255,080 $497,340
Building and Improvements 0 276,245 467,100 0 743,345
Machinery and Equipment 0 1,828,544 1,758,990 1,530,409 5,117,943
-------------- -------------- -------------- -------------- --------------
Total 0 2,293,501 2,279,638 1,785,489 6,358,628
Accumulated Depreciation 0 (950,912) (1,080,753) (670,251) (2,701,916)
-------------- -------------- -------------- -------------- --------------
Property, Plant &
Equipment - Net 0 1,342,589 1,198,885 1,115,238 3,656,712
-------------- -------------- -------------- -------------- --------------
INVESTMENTS IN SUBSIDIARIES 8,610,446 0 0 0 8,610,446 [A]
-------------- -------------- -------------- -------------- --------------
CURRENT ASSETS:
Cash and Temp Cash Investments 44,830 222,013 394,416 41,029 702,288 [A]
Accounts Receivable 0 290,401 11,971 1,079,958 1,382,330
Accounts Rec Assoc Companies 1,382,423 1,044,447 1,106,388 683,723 4,216,981 [A]
Notes Receivable - Assoc
Companies 5,500,000 310,000 250,000 0 6,060,000 [B]
Materials and Supplies 0 3,986 5,187 0 9,173
Accum. Deferred Income Taxes 0 17,884 0 0 17,884
Prepayments & Other 1,812 35,483 37,062 32,739 107,096
-------------- -------------- -------------- -------------- --------------
Total Current Assets 6,929,065 1,924,214 1,805,024 1,837,449 12,495,752
-------------- -------------- -------------- -------------- --------------
LONG-TERM NOTES RECEIVABLE -
ASSOCIATED COMPANIES 0 225,000 225,000 0 450,000 [B]
[A]
-------------- -------------- -------------- -------------- --------------
NON CURRENT ASSETS:
Accumulated Deferred Income Taxes 409,570 110,925 147,746 455,283 1,123,524
Goodwill 156,096 1,150,122 232,305 526,935 2,065,458
Covenants not to Compete 450,000 0 0 0 450,000
Other 96,916 28,968 6,005 10,577 142,466
-------------- -------------- -------------- -------------- --------------
Total Other Assets 1,112,582 1,290,015 386,056 992,795 3,781,448
-------------- -------------- -------------- -------------- --------------
Total Assets $16,652,093 $4,781,818 $3,614,965 $3,945,482 $28,994,358
============== ============== ============== ============== ==============
R & T GROUP, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 1993
SUB-TOTAL CAPE ATLANTIC R&T CASTELLINI
FROM PRIOR CRANE CONSTRUCTION CONSOLIDATED
PAGE COMPANY, INC. COMPANY, INC. ELIMINATIONS TOTAL
ASSETS
NONUTILITY PROPERTY, PLANT & EQUIPMENT
AT COST
Land and Improvements $497,340 $0 $0 $0 $497,340
Building and Improvements 743,345 0 0 0 743,345
Machinery and Equipment 5,117,943 492,281 642,446 0 6,252,670
-------------- -------------- -------------- -------------- --------------
Total 6,358,628 492,281 642,446 0 7,493,355
Accumulated Depreciation (2,701,916) (233,249) (38,267) 0 (2,973,432)
-------------- -------------- -------------- -------------- --------------
Property, Plant &
Equipment - Net 3,656,712 259,032 604,179 0 4,519,923
-------------- -------------- -------------- -------------- --------------
INVESTMENTS IN SUBSIDIARIES 8,610,446 0 0 (8,610,446) 0
-------------- -------------- -------------- -------------- --------------
CURRENT ASSETS:
Cash and Temp Cash Investments 702,288 25,231 24,901 2,806 755,226
Accounts Receivable 1,382,330 60,804 344,120 0 1,787,254
Accounts Rec Assoc Companies 4,216,981 2,518 137,909 (1,307,087) 3,050,321
Notes Receivable - Assoc
Companies 6,060,000 25,000 50,000 (5,500,000) 635,000
Materials and Supplies 9,173 0 0 0 9,173
Accum. Deferred Income Taxes 17,884 486 0 0 18,370
Prepayments & Other 107,096 4,048 10,207 0 121,351
-------------- -------------- -------------- -------------- --------------
Total Current Assets 12,495,752 118,087 567,137 (6,804,281) 6,376,695
-------------- -------------- -------------- -------------- --------------
LONG-TERM NOTES RECEIVABLE -
ASSOCIATED COMPANIES 450,000 0 0 5,500,000 5,500,000
(450,000)
-------------- -------------- -------------- -------------- --------------
NON CURRENT ASSETS:
Accumulated Deferred Income Taxes 1,123,524 80,441 24,900 0 1,228,865
Goodwill 2,065,458 0 0 0 2,065,458
Covenants not to Compete 450,000 0 0 0 450,000
Other 142,466 29,276 7,393 0 179,135
-------------- -------------- -------------- -------------- --------------
Total Other Assets 3,781,448 109,717 32,293 0 3,923,458
-------------- -------------- -------------- -------------- --------------
Total Assets $28,994,358 $486,836 $1,203,609 ($10,364,727) $20,320,076
============== ============== ============== ============== ==============
R & T GROUP, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 1993
S. W. DOWNER R AND T ONSHORE
R & T GROUP, JR. COMPANY, CASTELLINI CONSTRUCTION
INC. INC. COMPANY, INC. COMPANY, INC. SUB-TOTAL
CAPITALIZATION AND LIABILITIES
COMMON EQUITY:
Common Stock - R&T Group, Inc.
No Par Value
Authorized 1,000 shares
Outstanding 500 shares $1,000,000 $0 $0 $0 $1,000,000
Common Stock - Subsidiaries 0 3,638,689 2,576,287 1,386,915 7,601,891 [A]
Paid in Capital - R&T Group, Inc. 7,800,000 0 0 0 7,800,000
Paid in Capital - Subsidiaries 0 0 0 2,015,081 2,015,081 [A]
Retained Earnings (Deficit) (2,325,296) 213,108 237,649 (1,910,359) (3,784,898)[A]
-------------- -------------- -------------- -------------- --------------
Total Common Equity 6,474,704 3,851,797 2,813,936 1,491,637 14,632,074
-------------- -------------- -------------- -------------- --------------
LONG-TERM DEBT:
Notes Payable 9.66% due 2000 8,250,000 0 0 0 8,250,000
Notes Payable Assoc. Companies 0 0 0 450,000 450,000 [A]
Capital Lease Obligation 0 0 0 0 0
-------------- -------------- -------------- -------------- --------------
Total Long-Term Debt 8,250,000 0 0 450,000 8,700,000
-------------- -------------- -------------- -------------- --------------
CURRENT LIABILITIES:
Current Maturities of
Long-Term Debt 1,375,000 0 0 0 1,375,000
Notes Payable - Associated
Companies 140,000 0 0 1,204,000 1,344,000
Accounts Payable 8,384 135,600 25,045 232,145 401,174
Accounts Payable to Associated
Companies 19,436 291,014 371,740 81,771 763,961 [A]
Accum. Deferred Income Taxes 616 12,064 15,576 11,131 39,387
Interest Accrued 154,961 0 0 0 154,961
Other 202,539 244,518 185,770 224,977 857,804
-------------- -------------- -------------- -------------- --------------
Total Current Liabilities 1,900,936 683,196 598,131 1,754,024 4,936,287
-------------- -------------- -------------- -------------- --------------
DEF CR & NON CURRENT LIABILITIES
Pension and Other Post-Retirement
Benefits Reserve 25,589 0 0 0 25,589
Accumulated Deferred Income Tax 864 246,825 202,898 249,821 700,408
-------------- -------------- -------------- -------------- --------------
Total Def Cr & Non Cur Liab 26,453 246,825 202,898 249,821 725,997
-------------- -------------- -------------- -------------- --------------
Total Liabilities $16,652,093 $4,781,818 $3,614,965 $3,945,482 $28,994,358
============== ============== ============== ============== ==============
R & T GROUP, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 1993
SUB-TOTAL CAPE ATLANTIC R&T CASTELLINI ELIMINATIONS
FROM PRIOR CRANE CONSTRUCTION & CONSOLIDATED
PAGE COMPANY, INC. COMPANY, INC. ADJUSTMENTS TOTAL
CAPITALIZATION AND LIABILITIES
COMMON EQUITY:
Common Stock - R&T Group, Inc.
No Par Value
Authorized 1,000 shares
Outstanding 500 shares $1,000,000 $0 $0 $0 $1,000,000
Common Stock - Subsidiaries 7,601,891 501,700 459 (8,104,050) 0
Paid in Capital - R&T Group, Inc. 7,800,000 0 0 0 7,800,000
Paid in Capital - Subsidiaries 2,015,081 90,000 200,000 (2,305,081) 0
Retained Earnings (Deficit) (3,784,898) (215,022) (124,061) 1,798,685 (2,325,296)
-------------- -------------- -------------- -------------- --------------
Total Common Equity 14,632,074 376,678 76,398 (8,610,446) 6,474,704
-------------- -------------- -------------- -------------- --------------
LONG-TERM DEBT:
Notes Payable 9.66% due 2000 8,250,000 0 0 0 8,250,000
Notes Payable Assoc. Companies 450,000 0 0 (450,000) 0
Capital Lease Obligation 0 0 358,597 0 358,597
-------------- -------------- -------------- -------------- --------------
Total Long-Term Debt 8,700,000 0 358,597 (450,000) 8,608,597
-------------- -------------- -------------- -------------- --------------
CURRENT LIABILITIES:
Current Maturities of
Long-Term Debt 1,375,000 0 91,345 0 1,466,345
Notes Payable - Associated
Companies 1,344,000 0 0 0 1,344,000
Accounts Payable 401,174 4,853 75,850 0 481,877
Accounts Payable to Associated
Companies 763,961 2,560 584,481 (1,304,281) 46,721
Accum. Deferred Income Taxes 39,387 1,376 3,470 0 44,233
Interest Accrued 154,961 0 0 0 154,961
Other 857,804 15,850 11,768 0 885,422
-------------- -------------- -------------- -------------- --------------
Total Current Liabilities 4,936,287 24,639 766,914 (1,304,281) 4,423,559
-------------- -------------- -------------- -------------- --------------
DEF CR & NON CURRENT LIABILITIES
Pension and Other Post-Retirement
Benefits Reserve 25,589 0 0 0 25,589
Accumulated Deferred Income Tax 700,408 85,519 1,700 0 787,627
-------------- -------------- -------------- -------------- --------------
Total Def Cr & Non Cur Liab 725,997 85,519 1,700 0 813,216
-------------- -------------- -------------- -------------- --------------
Total Liabilities $28,994,358 $486,836 $1,203,609 ($10,364,727) $20,320,076
============== ============== ============== ============== ==============
</TABLE>
<TABLE>
R&T GROUP, INC. AND SUBSIDIARIES
CONSOLIDATING ADJUSTMENTS & ELIMINATIONS
BALANCE SHEET
AS OF DECEMBER 31, 1993
<S> <C> <C>
[A] Notes Payable - Associated Companies 450,000
Accounts Payable - Associated Companies 1,304,281
Cash 2,806
Notes Receivable - Associated Companies 450,000
Accounts Receivable - Associated Companies 1,307,087
To eliminate inter-company accounts receivable,
accounts payable, long-term notes and cash
Common Stock - Subsidiaries 8,104,050
Paid in Capital - Subsidiaries 2,305,081
Deficit 1,798,685
Investment in Subsidiaries 8,610,446
To eliminate R&T Group, Inc. investment in subsidiaries
which is maintained on the equity method of accouting
[B] Long-Term Note Receivable - Associated Companies 5,500,000
Accounts Receivable - Associated Companies 5,500,000
To reclassify note of South Jersey Industries, Inc. (SJI)
(eliminated in consolidation at SJI level)
</TABLE>
