-----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, PXPyiNQpJARpeCwvBgqE0h6MPiLCPtn+eKjhEVbc6HD4St7PMTqL9pSX73VECr8p tnvJ9z5bGv04HVUnEU+9Ug== 0000018540-99-000023.txt : 19990301 0000018540-99-000023.hdr.sgml : 19990301 ACCESSION NUMBER: 0000018540-99-000023 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19990226 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: 35-CERT SEC ACT: SEC FILE NUMBER: 070-09073 FILM NUMBER: 99552171 BUSINESS ADDRESS: STREET 1: 1616 WOODALL RODGERS FRWY CITY: DALLAS STATE: TX ZIP: 75202 BUSINESS PHONE: 2147771000 35-CERT 1 RULE 24 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Public Utility Holding Company Act of 1935 File No. 70-9073 Report For Period: October 1, 1998 to December 31, 1998 In the Matter of: CENTRAL POWER AND LIGHT COMPANY, et al. This report is filed under Rule 24 of the Public Utility Holding Company Act of 1935 by Central Power and Light Company (CPL), a subsidiary of Central and South West Corporation (CSW), pursuant to an order issued by the Securities and Exchange Commission dated October 21, 1998 (HCAR 35-26931). The Better Choice Home Mortgage Program ("Better Choices Program") is a mortgage incentive program designed to promote efficient energy use and environmental conservation. The matter requires that CPL file quarterly reports providing the following information with respect to the Better Choices Program provided to nonaffiliates by CPL, Public Service Company of Oklahoma (PSO), Southwestern Electric Power Company (SWEPCO) and West Texas Utilities Company (WTU), (collectively, "Operating Companies") and Central and South West Services (Services): 1) a balance sheet as of the relevant quarterly reporting date, 2) income statement for the preceding twelve months, and 3) the name of each Company providing the marketing services authorized by this order, the total number of Home Certifications made during the relevant period. This report covers the period from October 1, 1998 through December 31, 1998. The requested information for the reporting period October 1, 1998 through December 31, 1998, is as follows: 1) Copies of the operating companies and Services balance sheet for the reporting period ended December 31, 1998 are attached as Exhibit 1. 2) Copies of the operating companies and Services income statement for the twelve months ended December 31, 1998 are attached as Exhibit 2. 3) A) The name of each Company providing the marketing services authorized by this order during for the period ending December 31, 1998 are: None B) The total number of Home Certifications made during the period ending December 31, 1998 are: None. S I G N A T U R E As requested by order of this Commission pursuant to the Public Utility Holding Company Act of 1935, Central Power and Light Company has duly caused this report to be signed on its behalf on this 26th day of February 1999. Central Power and Light Company, et al. /s/ R. Russell Davis R. Russell Davis Controller and Chief Accounting Officer INDEX TO EXHIBITS Exhibit Number Exhibit - ------- ------- 1 Balance sheets for the reporting period ended December 31, 1998, as required for: a) Central Power and Light (CPL) b) Public Service Company of Oklahoma (PSO) c) Southwestern Electric Power Company (SWEPCO) d) West Texas Utilities Company (WTU) e) Central and South West Services, Inc. (Services) 2 Income statements for the reporting period ended December 31, 1998, as required for: a) Central Power and Light (CPL) b) Public Service Company of Oklahoma (PSO) c) Southwestern Electric Power Company (SWEPCO) d) West Texas Utilities Company (WTU) e) Central and South West Services, Inc. (Services) EX-99 2 EXHIBIT 1 Exhibit 1 (a) Consolidated Balance Sheets (unaudited) Page 1 of 2 Central Power and Light Company - -------------------------------------------------------------------------------- As of December 31, 1998 ------------------ (thousands) ASSETS Electric Utility Plant Production $ 3,146,269 Transmission 527,146 Distribution 1,090,175 General 298,352 Construction work in progress 67,300 Nuclear fuel 206,949 ------------------ 5,336,191 Less - accumulated depreciation 2,072,686 ------------------ 3,263,505 ------------------ Current Assets Cash 5,195 Accounts receivable 51,056 Materials and supplies, at average cost 59,814 Fuel inventory 20,340 Deferred income taxes - current 713 Prepayments 2,952 ------------------ 140,070 ------------------ Deferred Charges and Other Assets Deferred STP costs 482,447 Mirror CWIP asset 256,702 Income tax related regulatory assets, net 360,482 Nuclear decommissioning trust 65,972 Other 88,067 ------------------ 1,253,670 ------------------ $ 4,657,245 ================== Exhibit 1 (a) Consolidated Balance Sheets (unaudited) Page 2 of 2 Central Power and Light Company - -------------------------------------------------------------------------------- As of December 31, 1998 ------------------ (thousands) CAPITALIZATION AND LIABILITIES Capitalization Common stock: $25 par value Authorized shares: 12,000,000 Issued and outstanding shares: 6,755,535 $ 168,888 Paid-in capital 405,000 Retained earnings 739,031 ------------------ Total Common Stock Equity 1,312,919 ------------------ Preferred stock 163,204 CPL-obligated, mandatorily redeemable preferred securities of subsidiary trust holding solely Junior Subordinated Debentures of CPL 150,000 Long-term debt 1,146,762 ------------------ Total Capitalization 2,772,885 ------------------ Current Liabilities Long-term debt due within twelve months 125,000 Advances from affiliates 160,298 Accounts payable 125,329 Accrued taxes 46,855 Accrued interest 27,036 Over-recovered fuel costs 9,135 Other 18,819 ------------------ 512,472 ------------------ Deferred Credits Accumulated deferred income taxes 1,221,561 Investment tax credits 138,513 Other 11,814 ------------------ 1,371,888 ------------------ $ 4,657,245 ================== Exhibit 1 (b) Consolidated Balance Sheets (unaudited) Page 1 of 2 Public Service Company of Oklahoma - -------------------------------------------------------------------------------- As of December 31, 1998 ------------------ (thousands) ASSETS Electric Utility Plant Production $ 913,083 Transmission 378,719 Distribution 855,277 General 211,124 Construction work in progress 33,519 --------------- 2,391,722 Less - Accumulated depreciation 1,082,081 --------------- 1,309,641 --------------- Current Assets Cash 4,670 Accounts receivable 32,916 Materials and supplies, at average cost 33,006 Fuel inventory, at LIFO cost 16,441 Accumulated deferred income taxes 11,789 Prepayments and other 2,881 --------------- 101,703 --------------- Deferred Charges and Other Assets 55,441 --------------- $ 1,466,785 =============== Exhibit 1 (b) Consolidated Balance Sheets (unaudited) Page 2 of 2 Public Service Company of Oklahoma - -------------------------------------------------------------------------------- As of December 31, 1998 ------------------ (thousands) CAPITALIZATION AND LIABILITIES Capitalization Common stock: $15 par value Authorized shares: 11,000,000 shares Issued 10,482,000 shares and outstanding 9,013,000 shares $157,230 Paid-in capital 180,000 Retained earnings 144,626 --------------- Total Common Stock Equity 481,856 --------------- Preferred stock 5,287 PSO-obligated, mandatorily redeemable preferred securities of subsidiary trust holding solely Junior Subordinated Debentures of PSO 75,000 Long-term debt 368,121 --------------- Total Capitalization 930,264 --------------- Current Liabilities Advances from affiliates 15,892 Payables to affiliates 33,489 Accounts payable 52,888 Payables to customers 32,608 Accrued taxes 23,095 Accrued interest 7,606 Other 6,599 --------------- 172,177 --------------- Deferred Credits Accumulated deferred income taxes 277,181 Investment tax credits 39,365 Income tax related regulatory liabilities, net 35,818 Other 11,980 --------------- 364,344 --------------- $ 1,466,785 =============== Exhibit 1 (c) Consolidated Balance Sheets (unaudited) Page 1 of 2 Southwestern Electric Power Company - -------------------------------------------------------------------------------- As of December 31, 1998 ------------------ (thousands) ASSETS Electric Utility Plant Production $ 1,397,924 Transmission 474,035 Distribution 916,293 General 321,136 Construction work in progress 48,523 ------------------ 3,157,911 Less - Accumulated depreciation 1,317,057 ------------------ 1,840,854 ------------------ Current Assets Cash and temporary cash investments 4,444 Accounts receivable 40,430 Materials and supplies, at average cost 25,135 Fuel inventory 40,238 Accumulated deferred income taxes 4,869 Prepayments and other 16,651 ------------------ 131,767 ------------------ Deferred Charges and Other Assets 76,899 ------------------ $ 2,049,520 ================== Exhibit 1 (c) Consolidated Balance Sheets (unaudited) Page 2 of 2 Southwestern Electric Power Company - -------------------------------------------------------------------------------- As of December 31, 1998 ------------------ (thousands) CAPITALIZATION AND LIABILITIES Capitalization Common stock: $18 par value Authorized: 7,600,000 shares Issued and outstanding: 7,536,640 shares $ 135,660 Paid-in capital 245,000 Retained earnings 300,592 ------------------ Total Common Stock Equity 681,252 ------------------ Preferred stock Not subject to mandatory redemption 4,707 Subject to mandatory redemption ------------------ 4,707 SWEPCO-obligated, mandatorily redeemable preferred securities of subsidiary trust holding solely Junior Subordinated Debentures of SWEPCO 110,000 Long-term debt 506,939 ------------------ Total Capitalization 1,302,898 ------------------ Current Liabilities Long-term debt and preferred stock due within twelve months 43,932 Advances from affiliates 40,705 Accounts payable 73,507 Payables to affiliates 37,795 Customer deposits 13,316 Accrued taxes 23,189 Accrued interest 14,275 Over-recovered fuel costs 5,378 Other 12,538 ------------------ 264,635 ------------------ Deferred Credits Accumulated deferred income taxes 398,664 Investment tax credits 62,213 Income tax related regulatory liabilities, net 4,931 Other 16,179 ------------------ 481,987 ------------------ $ 2,049,520 ================== Exhibit 1 (d) Balance Sheets (unaudited) Page 1 of 2 West Texas Utilities Company - -------------------------------------------------------------------------------- As of December 31, 1998 ----------------- (thousands) ASSETS Electric Utility Plant Production $ 429,896 Transmission 213,630 Distribution 382,373 General 108,878 Construction work in progress 11,805 ----------------- 1,146,582 Less - Accumulated depreciation 473,503 ----------------- 673,079 ----------------- Current Assets Cash 2,093 Accounts receivable 31,689 Materials and supplies, at average cost 14,191 Fuel inventory 13,186 Accumulated deferred income taxes 366 Under-recovered fuel costs 3,980 Prepayments and other 5,988 ----------------- 71,493 ----------------- Deferred Charges and Other Assets Deferred Oklaunion costs 14,910 Restructuring costs 7,079 Other 31,943 ----------------- 53,932 ----------------- $ 798,504 ================= Exhibit 1 (d) Balance Sheets (unaudited) Page 2 of 2 West Texas Utilities Company - -------------------------------------------------------------------------------- As of December 31, 1998 ----------------- (thousands) CAPITALIZATION AND LIABILITIES Capitalization Common stock: $25 par value Authorized: 7,800,000 shares Issued and outstanding: 5,488,560 shares $ 137,214 Paid-in capital 2,236 Retained earnings 117,189 ----------------- Total Common Stock Equity 256,639 ----------------- Preferred stock 2,483 Long-term debt 282,210 ----------------- Total Capitalization 541,332 ----------------- Current Liabilities Advances from affiliates 4,573 Payables to affiliates 19,917 Accounts payable 31,473 Accrued taxes 10,031 Accrued interest 4,125 Other 3,797 ----------------- 73,916 ----------------- Deferred Credits Accumulated deferred income taxes 140,731 Investment tax credits 26,597 Income tax related regulatory liabilities, net 12,088 Other 3,840 ----------------- 183,256 ----------------- $ 798,504 ================= Central and South West Services Exhibit 1 (e) Balance Sheets (unaudited) Page 1 of 1 - -------------------------------------------------------------------------------- As of December 31, 1998 --------------------- (thousands) ASSETS Electric Utility Plant General $ 124,070 Less - accumulated depreciation 39,626 --------------------- 84,444 --------------------- Current Assets Cash 1,503 Accounts receivable 39,946 Materials and supplies, at average cost 24 Prepayments 94 --------------------- 41,567 --------------------- Deferred Charges and Other Assets 21,255 --------------------- $ 147,266 ===================== CAPITALIZATION AND LIABILITIES Capitalization Common stock: $25 par value Authorized shares: 12,000,000 Issued and outstanding shares: 6,755,535 $ 100 --------------------- Total Common Stock Equity 100 --------------------- Total Capitalization 100 --------------------- Current Liabilities MoneycPoolrPayableliates 97,103 Advances from affiliates 2,643 Accounts payable 21,775 Accrued taxes 1,221 Accrued interest 451 Other 2,101 --------------------- 125,294 --------------------- Deferred Credits Accumulated deferred income taxes 12,682 Other 9,190 --------------------- 21,872 --------------------- $ 147,266 ===================== EX-99 3 EXHIBIT 2 Exhibit 2 (a) Consolidated Statements of Income (unaudited) Page 1 of 1 Central Power and Light Company - -------------------------------------------------------------------------------- Twelve Months Ended December 31, 1998 ------------------- (thousands) Electric Operating Revenues Residential $ 527,081 Commercial 377,492 Industrial 309,543 Sales for resale 66,680 Other 125,321 ---------------- 1,406,117 ---------------- Operating Expenses and Taxes Fuel 385,944 Purchased power 40,062 Other operating 260,843 Maintenance 63,779 Depreciation and amortization 184,805 Taxes, other than income 70,927 Income taxes 116,831 ---------------- 1,123,191 ---------------- Operating Income 282,926 ---------------- Other Income and Deductions Allowance for equity funds used during construction 51 Other (1,495) Non-operating income taxes 2,204 ---------------- 760 ---------------- Income Before Interest Charges 283,686 ---------------- Interest Charges Interest on long-term debt 93,301 Distributions on Trust Preferred Securities 12,000 Interest on short-term debt and other 19,506 Allowance for borrowed funds used during construction (2,771) ---------------- 122,036 ---------------- Net Income 161,650 Less: Preferred stock dividends 6,901 ---------------- Net Income for Common Stock $ 154,749 ================ Exhibit 2 (b) Consolidated Statements of Income (unaudited) Page 1 of 1 Public Service Company of Oklahoma - -------------------------------------------------------------------------------- Twelve Months Ended December 31, 1998 ------------------- (thousands) Electric Operating Revenues Residential $329,058 Commercial 236,258 Industrial 162,773 Sales for resale 27,413 Other 24,657 ---------------- 780,159 ---------------- Operating Expenses and Taxes Fuel 309,969 Purchased power 57,222 Other operating 109,393 Maintenance 36,981 Depreciation and amortization 72,671 Taxes, other than income 29,816 Income taxes 49,099 ---------------- 665,151 ---------------- Operating Income 115,008 ---------------- Other Income and Deductions Allowance for equity funds used during construction 860 Other (1,044) Non-operating income taxes 93 ---------------- (91) ---------------- Income Before Interest Charges 114,917 ---------------- Interest Charges Interest on long-term debt 29,136 Interest on short-term debt and other 4,107 Distributions on Trust Preferred Securities 6,000 Allowance for borrowed funds used during construction (1,169) ---------------- 38,074 ---------------- Net Income 76,843 Less: Preferred stock dividends 213 ---------------- Net Income for Common Stock $ 76,630 ================ Exhibit 2 (c) Consolidated Statements of Income (unaudited) Page 1 of 1 Southwestern Electric Power Company - -------------------------------------------------------------------------------- Twelve Months Ended December 31, 1998 ------------------- (thousands) Electric Operating Revenues Residential $ 314,600 Commercial 197,737 Industrial 253,458 Sales for resale 139,869 Other 47,288 ---------------- 952,952 ---------------- Operating Expenses and Taxes Fuel 371,414 Purchased power 35,483 Other operating 140,460 Maintenance 51,219 Depreciation and amortization 98,479 Taxes, other than income 57,128 Income taxes 47,982 ---------------- 802,165 ---------------- Operating Income 150,787 ---------------- Other Income and Deductions Allowance for equity funds used during construction 1,336 Other (753) Non-operating income taxes 1,868 ---------------- 2,451 ---------------- Income Before Interest Charges 153,238 ---------------- Interest Charges Interest on long-term debt 39,233 Distributions on Trust Preferred Securities 8,662 Interest on short-term debt and other 8,591 Allowance for borrowed funds used during construction (1,351) ---------------- 55,135 ---------------- Net Income 98,103 Less: Preferred stock dividends 705 Gain/(Loss) on reacquired preferred stock (856) ---------------- Net Income for Common Stock $ 96,542 ================ Exhibit 2 (d) Statements of Income (unaudited) Page 1 of 1 West Texas Utilities Company - -------------------------------------------------------------------------------- Twelve Months Ended December 31, 1998 ------------------- (thousands) Electric Operating Revenues Residential $ 134,204 Commercial 76,155 Industrial 51,715 Sales for resale 97,560 Other 65,319 ---------------- 424,953 ---------------- Operating Expenses and Taxes Fuel 122,836 Purchased power 48,131 Other operating 89,924 Maintenance 16,666 Depreciation and amortization 42,750 Taxes, other than income 24,638 Income taxes 20,642 ---------------- 365,587 ---------------- Operating Income 59,366 ---------------- Other Income and Deductions Allowance for equity funds used during construction 678 Other 1,580 Non-operating income taxes 454 ---------------- 2,712 ---------------- Income Before Interest Charges 62,078 ---------------- Interest Charges Interest on long-term debt 20,352 Interest on short-term debt and other 4,580 Allowance for borrowed funds used during construction (668) ---------------- 24,264 ---------------- Net Income 37,814 Less: Preferred stock dividends 104 ---------------- Net Income for Common Stock $ 37,710 ================ Central and South West Services Exhibit 2 (e) Statements of Income (unaudited) Page 1 of 1 - -------------------------------------------------------------------------------- Twelve Months Ended December 31, 1998 ------------------- (thousands) Operating Expenses and Taxes Fuel 2,864 Other operating 197,256 Maintenance 21,146 Depreciation and amortization 9,691 Taxes, other than income 7,549 Income taxes 1,673 ---------------- Operating Income (Loss) (240,179) Other Income and Deductions Other 245,428 ---------------- Income Before Interest Charges 5,249 Interest Charges Interest on long-term debt 750 Interest on short-term debt and other 4,499 ---------------- 5,249 ---------------- Net Income for Common Stock $ -- ================ -----END PRIVACY-ENHANCED MESSAGE-----