-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G7bcIQhoCE3iMjx5zW6sxx0YjeFEa3k6hnG5T7RL1YumpjnZaOKEE+I9dwkWpEZx HMlU83vQiTTK4jhaCTxWZw== 0000018540-98-000119.txt : 19980901 0000018540-98-000119.hdr.sgml : 19980901 ACCESSION NUMBER: 0000018540-98-000119 CONFORMED SUBMISSION TYPE: U-9C-3 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980630 FILED AS OF DATE: 19980831 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL & SOUTH WEST CORP CENTRAL INDEX KEY: 0000018540 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 510007707 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U-9C-3 SEC ACT: SEC FILE NUMBER: 074-00017 FILM NUMBER: 98701620 BUSINESS ADDRESS: STREET 1: 1616 WOODALL RODGERS FRWY CITY: DALLAS STATE: TX ZIP: 75202 BUSINESS PHONE: 2147541000 U-9C-3 1 06/30/98 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM U-9C-3 QUARTERLY REPORT PURSUANT TO RULE 58 FOR THE QUARTER ENDED JUNE 30, 1998 CENTRAL AND SOUTH WEST CORPORATION (CSW) (Name of registered holding company) 1616 WOODALL RODGERS FREEWAY DALLAS, TEXAS 75202 (Address of principal executive offices) ITEM 1 - ORGANIZATION CHART
PERCENTAGE ENERGY OR OF VOTING NAME OF REPORTING COMPANY GAS-RELATED DATE OF STATE OF SECURITIES (OWNERSHIP INFORMATION) COMPANY ORGANIZATION ORGANIZATION HELD NATURE OF BUSINESS - --------------------------------------------------------------------------------------------------------------- Polk Power Partners, L.P. (Polk Cogen) Energy Feb-92 Delaware 46.25% Qualifying facility Orange Cogeneration Limited Partnership Energy Feb-93 Delaware 50% Qualifying facility (Orange Cogen) Brush Cogeneration Partners (Brush Cogen)Energy Nov-91 Delaware 47.25% Qualifying facility (OWNERSHIP THROUGH VARIOUS INTERMEDIATE HOLDING COMPANY SUBSIDIARIES ORIGINATING WITH CSW DEVELOPMENT-I, INC / CSW ENERGY INC. / CSW) Thermo Cogeneration Partnership, L.P. Energy Apr-93 Delaware 50% Qualifying facility (Thermo Cogen) (OWNERSHIP THROUGH INTERMEDIATE HOLDING COMPANY CSW FT. LUPTON, INC. / CSW ENERGY INC. / CSW) Sweeny Cogeneration Limited Partnership Energy Sep-95 Delaware 50% Qualifying facility (Sweeny Cogen) (OWNERSHIP THROUGH VARIOUS INTERMEDIATE HOLDING COMPANY SUBSIDIARIES ORIGINATING WITH CSW SWEENY GP I, INC. AND CSW SWEENY LP I, INC. / CSW ENERGY INC. / CSW) Diversified Energy Contractors LLC (DECO)Energy Jul-97 Delaware 100% Maintenance services (CSW ENERGY INC. / CSW) CSW Power Marketing, Inc. Energy Mar-96 Delaware 100% Energy marketing (CSW) CSW Services International, Inc. Energy Mar-97 Delaware 100% Energy management (CSW ENERGY INC. / CSW) Powerware Solutions, Inc. Energy Feb-94 Texas 4.0% Energy Mgmt (PSO Investment) Systems for water utilities Utility Data Resources, Inc. Energy Dec-97 Delaware 4.5% Electricity (PSO Investment) pricing mgmt consulting and software AEMT, Inc. Energy Dec-97 Florida 0% Power (PSO Investment) conditioning product mfg and sales Energy Services, Inc. (ESI) Energy Sept-97 Delaware 100% Energy marketing (CSW) Enershop Energy Sept-95 Delaware 100% Energy marketing (CSW) services
ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS
PRINCIPAL PERSON TO CONSIDERATION COMPANY TYPE OF AMOUNT OF ISSUE COST OF WHOM COLLATERAL RECEIVED FOR ISSUING SECURITY SECURITY OR CAPITAL SECURITY GIVEN WITH EACH SECURITY SECURITY ISSUED RENEWAL ISSUED SECURITY - --------------- ------------- ------------ --------- --------- -------------- ------------- -------------- (000's) Sweeny Cogen Secured 87,000 Issue 7.40% Westduetsche Assets of Loan Proceeds Limited Notes-Non-recourse Landesbank Sweeny Partnership above Cogen project Limited level Partnership Sweeny Cogen Secured 62,000 Issue 7.40% John Hancock Assets of Loan Proceeds Limited Notes-Non-recourse Life Sweeny Partnership above Cogen project Limited level Partnership DECO Loan note 1,699 CSW Energy COMPANY COMPANY AMOUNT OF CONTRIBUTING RECEIVING CAPITAL CAPITAL CAPITAL CONTRIBUTION - --------------- ------------- ------------ (000') None
ITEM 3 - ASSOCIATE TRANSACTIONS PART I - TRANSACTIONS PERFORMED BY REPORTING COMPANIES ON BEHALF OF ASSOCIATE COMPANIES
DIRECT INDIRECT REPORTING COMPANY ASSOCIATE COMPANY TYPE OF SERVICES COSTS COSTS COST OF TOTAL AMOUNT RENDERING SERVICES RECEIVING SERVICES RENDERED CHARGED CHARGED CAPITAL BILLED - ------------------- ------------------ --------------- --------- --------- --------- ------------ (000's) (000's) (000's) Enershop, Inc. CSW/ICG Lease ChoiceCom, LLP Management $ 22 $ 22 Enershop, Inc. CSW Power Lease Marketing, Inc. Management 5 5 CSW Power Enershop, Inc. Lease Marking, Inc. Management 66 66 CSW Power CSW/ICG Lease Marketing, Inc. ChoiceCom, LLP Management 26 26 CSW Energy, Inc. Orange Plant services 336 $ 155 491 Cogeneration CSW Energy, Inc. Polk Cogeneration Plant services 323 155 478 CSW Energy, Inc. Sweeny Plant services 222 229 451 Cogeneration
PART II - TRANSACTIONS PERFORMED BY ASSOCIATE COMPANIES ON BEHALF OF REPORTING COMPANIES
DIRECT INDIRECT ASSOCIATE COMPANY REPORTING COMPANY TYPE OF SERVICES COSTS COSTS COST OF TOTAL AMOUNT RENDERING SERVICES RECEIVING SERVICES RENDERED CHARGED CHARGED CAPITAL BILLED - ------------------- ------------------ --------------- --------- --------- --------- ------------ (000's) (000's) (000's) CSW Power Enershop, Inc. Lease Marketing, Inc. Management 66 66 Enershop, Inc. CSW Power Lease Marketing, Inc. Management 5 5 For other associate company transactions, please refer to the most recent annual report on Form U-13-60 filed by Central and South West Corporation with the Securities and Exchange Commission.
ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT Investments in energy-related companies (millions): Total consolidated capitalization as of: June 30, 1998 $7,830 line 1 Total capitalization multiplied by15% 1,175 line 2 (line 1 multiplied by 0.15) Greater of $50 million or line 2 1,175 line 3 Total current aggregate investment: (Beginning 4/1/97) (categorized by major line of energy-related business) Energy-related Category 1: Energy Services 11 Energy-related Category 5: Energy Marketing 0 Energy-related Category 7: Maintenance Services 0 Energy-related Category 8: Qualifying Facility 5 Energy-related Categories 2,3,4,6,9,10 -- Total current aggregate investment 16 line 4 --------- Difference between the greater of $50 million or 15% of capitalization and the total aggregate investment of the registered holding company system (line 3 less line 4) $1,159 line 5 ========= Investments in gas-related companies (millions): Total current aggregate investment: (Beginning 4/1/97) (categorized by major line of energy-related business) Gas-related business Categories 1 and 2 -- Total current aggregate investment $0 ========= ITEM 5 - OTHER INVESTMENTS MAJOR LINE OF OTHER INVESTMENT OTHER INVESTMENT ENERGY-RELATED IN LAST U-9C-3 IN THIS U-9C-3 REASON FOR DIFFERENCE BUSINESS REPORT REPORT IN OTHER INVESTMENT - ------------------- ---------------- ----------------- ------------------------- (000's) (000's) Energy services $ 2,696 $0 Amounts invested prior to April 1, 1997 are excluded from Item 4 Maintenance -- 0 services Qualifying $ 195,124 0 Amounts invested prior to facility April 1, 1997 are excluded from Item 4 ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS FINANCIAL STATEMENTS Balance sheets for quarter ended June 30, 1998 CSW Development-I, Inc. (consolidated) CSW Ft. Lupton, Inc Sweeny Companies (consolidated) Enershop, Inc. CSW Energy Services, Inc. CSW Power Marketing, Inc. Diversified Energy Contractors Company (DECO) Note: No CSW Services International balance sheet (initial capitalization activity only) Income Statements as of the three months ended June 30, 1998 CSW Development-I, Inc. (consolidated) CSW Ft. Lupton, Inc. Sweeny Companies (consolidated) Enershop, Inc. CSW Energy Services, Inc. CSW Power Marketing, Inc. Diversified Energy Contractors Company (DECO) Note: No Income statement for CSW Services International (pass-through billing only) EXHIBITS Exhibit A - Certificate of Central and South West Corporation Please contact Mr. Steven K. Bargmann at (214) 777-2210 with inquiries concerning this report. SIGNATURE Central and South West Corporation By: Lawrence B. Connors (Name) Controller (Title) August 28, 1998 (Date) CSW DEVELOPMENT-I, INC. Consolidated Balance Sheet June 30, 1998 Unaudited (000's) CURRENT ASSETS Cash $ 200 Accounts Receivable - Project 28 -------------- Total Current Assets $ 228 NONCURRENT ASSETS Equity Investment 43,119 Notes Receivable - Affiliated 25,141 Other Noncurrent 1,744 -------------- Total Noncurrent Assets 70,004 ------------- Total Assets 70,232 ============= NONCURRENT LIABILITIES Deferred Federal Income Tax 22,060 EQUITY Common Stock 1 Paid in Capital 43,086 Retained Earnings 5,017 Minority Interest 68 -------------- Total Shareholder's Equity 48,172 ------------- Total Liabilities and Equity $ 70,232 ============= CSW FT. LUPTON, INC. Consolidated Balance Sheet June 30, 1998 Unaudited (000's) CURRENT ASSETS Accounts Receivable - Affiliated $ 63,465 NONCURRENT ASSETS Equity Investment 69,618 Deferred Financing Costs 2,591 Deferred Interest Expense 1,270 -------------- Total Noncurrent Assets 73,479 ------------- Total Assets 136,944 ============= NONCURRENT LIABILITIES Deferred Income 2,254 Accrued Federal Income Tax 4,339 Deferred Federal Income Tax 17,689 -------------- Total Liabilities 24,282 EQUITY Paid in Capital 82,626 Retained Earnings $ 30,036 -------------- Total Shareholder's Equity 112,662 ------------- Total Liabilities and Equity $ 136,944 ============= Sweeny Cogeneration, L P Consolidated Balance Sheet June 30, 1998 Unaudited (000's) CURRENT ASSETS Cash $ 26,189 Accounts Receivable 16,185 Plant Assets in Service 178,477 Other Current Assets 2,637 -------------- Total Assets 223,488 ============= CURRENT LIABILITIES Accounts Payable - Nonaffiliated 8,117 Accounts Payable - Affiliated 21,834 Retainage Payable 9,930 Long Term Debt 149,000 Other 2,240 -------------- Total Liabilities 191,121 MINORITY INTEREST 15,000 EQUITY Paid in Capital 15,000 Undistributed Earnings 2,367 -------------- Total Shareholder's Equity 17,367 ------------- Total Liabilities, Equity and Minority Interest $ 223,488 ============= ENERSHOP, INC. Balance Sheet June 1998 ASSETS ASSETS Accounts Receivable 1,406,128 Prepaid Assets 24,378 Federal Income Tax 1,571,363 Work in Progress 2,452,095 Other Assets 2,559,770 ------------- Total Current Assets 8,013,734 Office Furniture & Equipment 1,347,813 Accumulated Depreciation (301,540) ------------- Net Plant 1,046,274 NON CURRENT ASSETS Prepaid Benefit Plans 51,468 ------------- Total Assets 9,111,476 ================ LIABILITIES & EQUITY CURRENT LIABILITIES Accounts Payable 1,467,236 Accounts Payable - affiliated 17,136 Unearned Interest Revenue 83,497 ------------- Total Current Liabilities 1,567,868 LONG TERM LIABILITIES Notes Payable - Affiliated 14,020,444 Notes Payable - Other 173,250 ------------- Total Long Term Liabilities 14,193,694 ------------- Total Liabilities 15,761,562 ------------- EQUITY EQUITY Common Stock 100 Additional Paid in Capital 900 Retained Earnings (6,651,087) ------------- Total Equity (6,650,087) ------------- Total Liabilities & Equity 9,111,476 ================ CSW Energy Services, Inc. Balance Sheet June 1998 ASSETS ASSETS Cash 200 Accounts Receivable - Affiliated 77,276 Accounts Receivable - Other 33,532 Other Assets 156,516 -------------- Total Current Assets 267,524 Office Furniture & Equipment & Software 730,414 Accumulated Depreciation (39,307) -------------- Net Plant 691,107 Total Assets 958,631 =============== LIABILITIES & EQUITY CURRENT LIABILITIES Accounts Payable 198,972 Accounts Payable - Affiliated 4,197,036 Interest Payable - Affiliate 18,681 Accrued Taxes (1,030,034) Other Current Liabilities 14,061 -------------- Total Liabilities 3,398,716 EQUITY EQUITY Common Stock 1,000 Additional Paid in Capital 0 Retained Earnings (2,441,085) -------------- Total Equity (2,440,085) -------------- Total Liabilities & Equity 958,631 ================ Power Marketing, Inc. Balance Sheet June 1998 ASSETS ASSETS Accounts Receivable - Affiliate 66,482 Accounts Receivable - Trade 0 Prepaid Assets 44,003 Federal Income Tax Benefit 0 Work in Progress 0 Other Assets 0 ------- Total Current Assets 110,485 Property & Equipment 23,438 Accumulated Depreciation (2,302) ------- Net Plant 21,136 NON CURRENT ASSETS Prepaid Benefit Plans 0 Total Assets 131,621 ============= LIABILITIES & EQUITY CURRENT LIABILITIES Accounts Payable 0 Accounts Payable - affiliated 125,176 ------- Total Current Liabilities 125,176 LONG TERM LIABILITIES Notes Payable - Affiliated 420,786 Notes Payable - Other 0 ------- Total Long Term Liabilities 420,786 ------- Total Liabilities 545,962 EQUITY EQUITY Common Stock 1,000 Additional Paid in Capital 0 Retained Earnings (415,341) --------- Total Equity (414,341) Total Liabilities & Equity 131,621 ============= Diversified Energy Contractors Company Balance Sheet June 30, 1998 Unaudited (000's) CURRENT ASSETS Cash $ 365 Accounts Receivable 33 Other Current Assets 210 ------------- Total Current Assets $ 608 NONCURRENT ASSETS Fixed Assets 474 Other Noncurrent 809 ------------- Total Noncurrent Assets 1,283 ============= Total Assets 1,891 ============= CURRENT LIABILITIES Accounts Payable 599 Other Current 45 ------------- Total Current Assets 644 NON-CURRENT LIABILITIES Notes Payable - Affiliates 3,138 ------------- Total Liabilities 3,782 ------------- EQUITY Partners 1 Capital Retained Deficit $ (1,892) ------------- Total Equity (1,891) ============= Total Liabilities and Equity $ 1,891 ============= CSW DEVELOPMENT-I, INC. Consolidated Income Statement For the Quarter Ended June 30, 1998 Unaudited (000's) Three Months Ended Six Months June 30, 1998 Year to Date ----------------- --------------- REVENUES Misc. Income $ 109 $ 237 Income From Equity Investments 720 960 ----------------- --------------- Total Revenue 829 1,197 ----------------- --------------- EXPENSES Interest (Income) Expense (364) (709) Operating Expenses, net 52 136 ----------------- --------------- Total Expenses (312) (573) ----------------- --------------- Net Income Before Tax 1,141 1,770 Provision for Income Tax 446 691 ----------------- --------------- Net Income $ 695 $ 1,079 ================= =============== CSW FT. LUPTON, INC. Consolidated Income Statement For the Quarter Ended June 30, 1998 Unaudited (000's) Three Months Ended Six Months June 30, 1998 Year to Date -------------------- ---------------- REVENUES Interest Income $ 22 $ 44 Misc. Income 954 1,838 Income From Equity Investments 3,016 5,721 -------------------- ---------------- Total Revenue 3,992 7,603 EXPENSES Operating Expenses, net 884 1,637 -------------------- ---------------- Net Income Before Tax 3,992 7,603 Provision for Income Tax 1,212 2,327 -------------------- ---------------- Net Income $ 2,780 $ 5,276 ==================== ================ Sweeny Cogeneration, L P Consolidated Income Statement For the Quarter Ended June 30, 1998 Unaudited (000's) Three Months Ended Six Months June 30, 1998 Year to Date -------------------- ---------------- REVENUES Income From Equity Investments 30,723 50,282 EXPENSES Operating Expenses 23,563 38,421 Administrative & Other 5,373 8,927 -------------------- ---------------- Total Expenses 28,936 47,348 -------------------- ---------------- Net Income- Partnership 1,787 2,934 ==================== ================ ENERSHOP, INC. Income Statement For the Quarter Ending June 30, 1998 Unaudited (000's) Quarter Six Months Ending Year to Date 6/30/98 6/30/98 REVENUES Contract Revenue 1,326 2,333 Maintenance Revenue 0 0 Misc. Revenue 8 15 ---------- --------- Total Revenue 1,334 2,348 ---------- --------- EXPENSES Cost of Revenue 1,098 1,952 Operating Expenses 1,748 3,195 Affiliate outside services 116 264 Interest & Taxes Other than Income 232 454 ---------- --------- Total Expenses 3,194 5,865 ---------- --------- Net Income Before Tax (1,860) (3,517) Provision for Income Taxes (636) (1,206) ---------- --------- Net Income (1,224) (2,311) ========== ========= CSW Energy Services, Inc. Income Statement For the Quarter Ending June 30, 1998 Unaudited (000's) Quarter Six Months Ending Year to Date 6/30/98 6/30/98 REVENUES 128 128 Unbilled Merchandise 3 3 Miscellaneous 0 0 ---------- ---------- Total Revenue 131 131 ---------- ---------- Cost of Sales Purchased Energy 19 19 UDC Charges 102 102 ISO Charges 2 2 PX Participation Fees 6 6 Merchandise Costs 2 2 ---------- ---------- Total Cost of Sales 131 131 ---------- ---------- Gross Margin 0 0 SG&A Expenses Customer Service & Info 178 470 General & Administrative 904 1,655 Depreciation 3 5 Amortization 20 34 Taxes Other than Income 75 94 Income Taxes (431) (794) ---------- ---------- Total Operating Expense 749 1,464 Net Operating Income/(Loss) (748) (1,464) Interest on Short Term Debt 50 79 Other Income & Deducts 5 (66) Credit Line Fees - Affiliate (1) 0 ---------- ---------- Net Income/Loss (802) (1,476) ========== ========== Power Marketing, Inc. Income Statement For the Quarter Ending June 30, 1998 Unaudited (000's) Quarter Six Months Ending Year to Date 06/30/98 06/30/98 REVENUES Rental Revenues - Affiliate 80 156 Other Revenues 0 0 0 0 -- - Total Revenue 80 156 --- --- EXPENSES Cost of Revenue 0 0 Operating Expenses 131 341 Affiliate outside services 17 90 Interest & Taxes Other than Income 7 13 -- -- Total Expenses 156 444 ---- --- Net Income Before Tax (76) (288) Provision for Income Taxes (27) (101) ---- ----- Net Income (50) (187) ======== ======== Diversified Energy Contractors Company Income Statement (Initial) For the Quarter Ended June 30, 1998 Unaudited ($000's) Six Months Year to Date (A) ------------ REVENUES Construction Billings $ 1,242 Cost of Sales 1,458 ------------ Gross Margin (216) EXPENSES Operating and General Expenses 1,087 ------------ Total Expenses 1,087 ------------ Net Income Before Tax (1,303) Provision for Income Tax - ------------ Net Income $ (1,303) ============ NOTE (A): Initial Quarter of Operation. Quarter and Year-to-Date numbers are the same. EX-99.A 2 EXHIBIT A Exhibit A CENTRAL AND SOUTH WEST CORPORATION CERTIFICATE The undersigned certifies that he is the duly designated and acting Controller of Central and South West Corporation, a Delaware corporation, and that a conformed copy of the Quarterly Report on Form U-9C-3 shall be filed with the Specific State Commissions that have jurisdiction over the retail rates of the public-utility companies that are associate companies of any of the reporting companies. The names and addresses of the Specific State Commissions are: Arkansas Public Service Commission 1000 Center P. O. Box 400 Little Rock, AR 72203-0400 Louisiana Public Service Commission One American Place P. O. Box 91154 Baton Rouge, LA 70821-9154 Oklahoma Corporation Commission 2101 N. Lincoln Blvd. P. O. Box 52000-2000 Oklahoma City, OK 73152-2000 Public Utility Commission of Texas 1701 N. Congress Avenue Austin, TX 78701 IN WITNESS WHEREOF, I have hereunto set my hand as of the 28th day of August, 1998. Lawrence B. Connors Controller -----END PRIVACY-ENHANCED MESSAGE-----