UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
(Mark One)
[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1996
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or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
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Commission File Number 1-11505
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MIDAMERICAN ENERGY COMPANY
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(Exact name of registrant as specified in its charter)
IOWA 42-1425214
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
666 Grand Ave., P.O. Box 657, Des Moines, Iowa 50303
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 515-242-4300
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Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes X* No
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Indicate the number of shares outstanding of each of the issuer's classes
of common stock as of the latest practicable date.
Common Stock, without par value 100,751,713
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(class) (outstanding at May 1, 1996)
* MidAmerican Energy Company ("MidAmerican") is the successor by merger of
Midwest Resources Inc. ("Midwest Resources"), Midwest Power Systems Inc.
("Midwest Power") and Iowa-Illinois Gas and Electric Company ("Iowa-Illinois")
with and into MidAmerican. The effective date of the merger was July 1, 1995,
and prior to such effective date, MidAmerican had no assets or operations. Prior
to such effective date, each of Iowa-Illinois, Midwest Resources and Midwest
Power was subject to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended ("Exchange Act"), and accordingly filed in a
timely manner all reports required to be filed pursuant to Sections 13 or 15(d)
of the Exchange Act during the preceding 12 months.
<TABLE> <S> <C>
<ARTICLE> UT
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET OF MIDAMERICAN ENERGY COMPANY AS OF SEPTEMBER 30,
1995, AND THE RELATED CONSOLIDATED STATEMENTS OF INCOME AND CASH FLOWS FOR
THE NINE MONTHS ENDED SEPTEMBER 30, 1995, AND IS QUALIFIED IN ITS ENTIRETY
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER>1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> SEP-30-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 2,649,218
<OTHER-PROPERTY-AND-INVEST> 830,581
<TOTAL-CURRENT-ASSETS> 328,314
<TOTAL-DEFERRED-CHARGES> 411,852
<OTHER-ASSETS> 223,183
<TOTAL-ASSETS> 4,443,148
<COMMON> 801,324
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 434,032
<TOTAL-COMMON-STOCKHOLDERS-EQ> 1,231,588
50,000
89,955
<LONG-TERM-DEBT-NET> 1,385,281
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 135,700
<LONG-TERM-DEBT-CURRENT-PORT> 74,159
0
<CAPITAL-LEASE-OBLIGATIONS> 0
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 1,476,465
<TOT-CAPITALIZATION-AND-LIAB> 4,443,148
<GROSS-OPERATING-REVENUE> 1,267,757
<INCOME-TAX-EXPENSE> 55,923<F1>
<OTHER-OPERATING-EXPENSES> 1,032,717
<TOTAL-OPERATING-EXPENSES> 1,032,717
<OPERATING-INCOME-LOSS> 235,040
<OTHER-INCOME-NET> 8,646<F2>
<INCOME-BEFORE-INTEREST-EXPEN> 243,686
<TOTAL-INTEREST-EXPENSE> 86,055
<NET-INCOME> 102,224
6,240
<EARNINGS-AVAILABLE-FOR-COMM> 95,984
<COMMON-STOCK-DIVIDENDS> 88,605
<TOTAL-INTEREST-ON-BONDS> 60,081
<CASH-FLOW-OPERATIONS> 306,804
<EPS-PRIMARY> 0.96
<EPS-DILUTED> 0.96
<FN>
<F1> Tag 37 includes operating and non-operating taxes and is excluded from
operating expenses in Tag 39 and on the Consolidated Statement of Income.
<F2> Tag 41 includes $516,000 of Income from Discontinued Operations, net of
income taxes.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> UT
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATON EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET OF MIDAMERICAN ENERGY COMPANY AS OF JUNE 30, 1995,
AND THE RELATED CONSOLIDATED STATEMENTS OF INCOME AND CASH FLOWS FOR THE
SIX MONTHS ENDED JUNE 30, 1995, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER>1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> JUN-30-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 2,643,179
<OTHER-PROPERTY-AND-INVEST> 803,211
<TOTAL-CURRENT-ASSETS> 300,554
<TOTAL-DEFERRED-CHARGES> 396,373
<OTHER-ASSETS> 222,163
<TOTAL-ASSETS> 4,365,480
<COMMON> 801,424
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 428,476
<TOTAL-COMMON-STOCKHOLDERS-EQ> 1,223,826
50,000
89,955
<LONG-TERM-DEBT-NET> 1,398,539
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 102,300
<LONG-TERM-DEBT-CURRENT-PORT> 72,528
0
<CAPITAL-LEASE-OBLIGATIONS> 0
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 1,428,332
<TOT-CAPITALIZATION-AND-LIAB> 4,365,480
<GROSS-OPERATING-REVENUE> 833,134
<INCOME-TAX-EXPENSE> 32,860<F1>
<OTHER-OPERATING-EXPENSES> 697,981
<TOTAL-OPERATING-EXPENSES> 697,981
<OPERATING-INCOME-LOSS> 135,153
<OTHER-INCOME-NET> 20,625<F2>
<INCOME-BEFORE-INTEREST-EXPEN> 114,528
<TOTAL-INTEREST-EXPENSE> 58,667
<NET-INCOME> 64,767
4,563
<EARNINGS-AVAILABLE-FOR-COMM> 60,204
<COMMON-STOCK-DIVIDENDS> 58,380
<TOTAL-INTEREST-ON-BONDS> 40,111
<CASH-FLOW-OPERATIONS> 200,499
<EPS-PRIMARY> 0.60
<EPS-DILUTED> 0.60
<FN>
<F1>Tag 37 includes operating and non-operating taxes and is excluded from
operating expenses in Tag 39 and on the Consolidated Statement of Income.
<F2> Tag 41 includes $516,000 of Income from Discontinued Operations, Net
of income taxes.
</FN>
</TABLE>
