-----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, MW63hzGCMF99bz8nVMWnPmEYQJe0ReLKfMkVbdnyu4jFj2fmWmsXqhVFsIcc371X NP/UUsO6zZCotyX6aP1hBw== 0000018540-99-000079.txt : 19990825 0000018540-99-000079.hdr.sgml : 19990825 ACCESSION NUMBER: 0000018540-99-000079 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19990824 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: 99698199 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: January 1, 1999 to March 31, 1999 In the Matter of: CENTRAL AND SOUTH WEST CORPORATION AND 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, Inc. (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 January 1, 1999 through March 31, 1999. The requested information for the reporting period January 1, 1999 through March 31, 1999, is as follows: 1) Copies of the Operating Companies and Services balance sheets for the reporting period ended March 31, 1999 are attached as Exhibit 1. 2) Copies of the Operating Companies and Services income statements for the twelve months ended March 31, 1999 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 March 31, 1999 are: NONE. B) The total number of Home Certifications made during the period ending March 31, 1999 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 27th day of May 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 March 31, 1999, 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 March 31, 1999, 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 Central Power and Light Company Exhibit 1 (a) Consolidated Balance Sheets (unaudited) Page 1 of 2 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (thousands) ASSETS Electric Utility Plant Production $ 3,147,129 Transmission 527,863 Distribution 1,101,920 General 299,210 Construction work in progress 79,456 Nuclear fuel 208,957 ----------------- 5,364,535 Less - accumulated depreciation 2,111,785 ----------------- 3,252,750 ----------------- Current Assets Cash 9,773 Accounts receivable 54,724 Materials and supplies, at average cost 58,101 Fuel inventory 22,993 Accumulated deferred income taxes 3,436 Prepayments and other 3,879 ----------------- 152,906 ----------------- Deferred Charges and Other Assets Deferred STP costs 481,883 Mirror CWIP asset 253,380 Income tax related regulatory assets, net 357,013 Nuclear decommissioning trust 71,982 Other 164,497 ----------------- 1,328,755 ----------------- $ 4,734,411 ================= Central Power and Light Company Exhibit 1 (a) Consolidated Balance Sheets (unaudited) Page 2 of 2 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (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 717,767 ----------------- Total Common Stock Equity 1,291,655 ----------------- 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 1,225,798 ----------------- Total Capitalization 2,830,657 ----------------- Current Liabilities Long-term debt due within twelve months 125,000 Advances from affiliates 192,638 Accounts payable 71,087 Payables to affiliates 31,964 Accrued taxes 53,342 Accrued interest 30,522 Over-recovered fuel costs 18,244 Other 19,574 ----------------- 542,371 ----------------- Deferred Credits Accumulated deferred income taxes 1,212,331 Investment tax credits 137,212 Other 11,840 ----------------- 1,361,383 ----------------- $ 4,734,411 ================= Public Service Company of Oklahoma Exhibit 1 (b) Consolidated Balance Sheets (unaudited) Page 1 of 2 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (thousands) ASSETS Electric Utility Plant Production $ 915,594 Transmission 379,157 Distribution 855,897 General 216,502 Construction work in progress 35,912 ----------------- 2,403,062 Less - Accumulated depreciation 1,091,811 ----------------- 1,311,251 ----------------- Current Assets Cash 1,253 Accounts receivable 31,692 Materials and supplies, at average cost 33,654 Fuel inventory, at LIFO cost 17,411 Accumulated deferred income taxes 12,969 Prepayments and other 5,871 ----------------- 102,850 ----------------- Deferred Charges and Other Assets 71,809 ----------------- $ 1,485,910 ================= Public Service Company of Oklahoma Exhibit 1 (b) Consolidated Balance Sheets (unaudited) Page 2 of 2 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (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 132,493 ----------------- Total Common Stock Equity 469,723 ----------------- 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 384,144 ----------------- Total Capitalization 934,154 ----------------- Current Liabilities Advances from affiliates 46,793 Payables to affiliates 20,767 Accounts payable 46,396 Payables to customers 41,926 Accrued taxes 14,073 Accrued interest 10,187 Other 7,005 ----------------- 187,147 ----------------- Deferred Credits Accumulated deferred income taxes 277,528 Investment tax credits 38,917 Income tax related regulatory liabilities, net 35,132 Other 13,032 ----------------- 364,609 ----------------- $ 1,485,910 ================= Southwestern Electric Power Company Exhibit 1 (c) Consolidated Balance Sheets (unaudited) Page 1 of 2 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (thousands) ASSETS Electric Utility Plant Production $ 1,399,130 Transmission 476,320 Distribution 923,986 General 327,437 Construction work in progress 40,195 ----------------- 3,167,068 Less - Accumulated depreciation 1,337,269 ----------------- 1,829,799 ----------------- Current Assets Cash 2,597 Accounts receivable 44,560 Materials and supplies, at average cost 25,762 Fuel inventory 53,347 Accumulated deferred income taxes 2,983 Prepayments and other 18,024 ----------------- 147,273 ----------------- Deferred Charges and Other Assets 114,352 ----------------- $ 2,091,424 ================= Southwestern Electric Power Company Exhibit 1 (c) Consolidated Balance Sheets (unaudited) Page 2 of 2 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (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 286,188 ----------------- Total Common Stock Equity 666,848 ----------------- Preferred stock Not subject to mandatory redemption 4,706 ----------------- 4,706 SWEPCO-obligated, mandatorily redeemable preferred securities of subsidiary trust holding solely Junior Subordinated Debentures of SWEPCO 110,000 Long-term debt 541,092 ----------------- Total Capitalization 1,322,646 ----------------- Current Liabilities Long-term debt due within twelve months 44,959 Advances from affiliates 88,501 Accounts payable 46,547 Payables to affiliates 29,006 Customer deposits 13,600 Accrued taxes 34,310 Accrued interest 12,756 Over-recovered fuel costs 6,397 Other 12,529 ----------------- 288,605 ----------------- Deferred Credits Accumulated deferred income taxes 394,579 Investment tax credits 61,072 Income tax related regulatory liabilities, net 3,761 Other 20,761 ----------------- 480,173 ----------------- $ 2,091,424 ================= West Texas Utilities Company Exhibit 1 (d) Balance Sheets (unaudited) Page 1 of 2 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (thousands) ASSETS Electric Utility Plant Production $ 433,170 Transmission 214,729 Distribution 386,086 General 110,125 Construction work in progress 10,834 ----------------- 1,154,944 Less - Accumulated depreciation 476,852 ----------------- 678,092 ----------------- Current Assets Cash 2,700 Accounts receivable 31,322 Materials and supplies, at average cost 14,580 Fuel inventory 14,093 Accumulated deferred income taxes 1,722 Under-recovered fuel costs 238 Prepayments and other 6,976 ----------------- 71,631 ----------------- Deferred Charges and Other Assets Deferred Oklaunion costs 13,978 Restructuring costs 6,607 Other 32,688 ----------------- 53,273 ----------------- $ 802,996 ================= West Texas Utilities Company Exhibit 1 (d) Balance Sheets (unaudited) Page 2 of 2 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (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 111,470 ----------------- Total Common Stock Equity 250,920 ----------------- Preferred stock 2,482 Long-term debt 283,104 ----------------- Total Capitalization 536,506 ----------------- Current Liabilities Advances from affiliates 18,634 Payables to affiliates 15,794 Accounts payable 31,017 Accrued taxes 5,488 Accrued interest 8,000 Other 4,918 ----------------- 83,851 ----------------- Deferred Credits Accumulated deferred income taxes 141,145 Investment tax credits 26,078 Income tax related regulatory liabilities, net 11,627 Other 3,789 ----------------- 182,639 ----------------- $ 802,996 ================= Central and South West Services Exhibit 1 (e) Balance Sheets (unaudited) Page 1 of 1 - -------------------------------------------------------------------------------- As of March 31, 1999 ----------------- (thousands) ASSETS Property, Plant and Equipment General $ 126,402 Less - accumulated depreciation 42,103 ----------------- 84,299 ----------------- Current Assets Cash 1,806 Accounts receivable 29,381 Materials and supplies, at average cost 19 Prepayments 69 ----------------- 31,275 ----------------- Deferred Charges and Other Assets 22,041 ----------------- $ 137,615 ================= CAPITALIZATION AND LIABILITIES As of March 31, Capitalization 1999 ----------------- Common stock: $25 par value (thousands) Authorized shares: 12,000,000 Issued and outstanding shares: 6,755,535 $ 100 ----------------- Total Common Stock Equity 100 ----------------- Total Capitalization 100 ----------------- Current Liabilities Advance Money Pool Payable 102,071 Advances from affiliates 1,355 Accounts payable 8,861 Accrued taxes 485 Accrued interest 398 Other 2,633 ----------------- 115,803 ----------------- Deferred Credits Accumulated deferred income taxes 13,028 Other 8,684 ----------------- 21,712 ----------------- $ 137,615 ================= EX-99 3 EXHIBIT 2 Central Power and Light Company Exhibit 2 (a) Consolidated Statements of Income (unaudited) Page 1 of 1 - -------------------------------------------------------------------------------- Twelve Months Ended March 31, 1999 ----------------- (thousands) Electric Operating Revenues $ 1,413,942 ----------------- Operating Expenses and Taxes Fuel 380,911 Purchased power 44,651 Other operating 262,174 Maintenance 65,948 Depreciation and amortization 186,207 Taxes, other than income 74,769 Income taxes 116,116 ----------------- 1,130,776 ----------------- Operating Income 283,166 ----------------- Other Income and Deductions Allowance for equity funds used during construction 51 Other (1,490) Non-operating income taxes 3,498 ----------------- 2,059 ----------------- Income Before Interest Charges 285,225 ----------------- Interest Charges Interest on long-term debt 92,630 Distributions on Trust Preferred Securities 12,000 Interest on short-term debt and other 17,742 Allowance for borrowed funds used during construction (2,956) ----------------- 119,416 ----------------- Net Income 165,809 Less: Preferred stock dividends 6,905 ================= Net Income for Common Stock $ 158,904 ================= Public Service Company of Oklahoma Exhibit 2 (b) Consolidated Statements of Income (unaudited) Page 1 of 1 - -------------------------------------------------------------------------------- Twelve Months Ended March 31, 1999 ----------------- (thousands) Electric Operating Revenues $ 779,778 ----------------- Operating Expenses and Taxes Fuel 310,330 Purchased power 57,669 Other operating 107,959 Maintenance 38,615 Depreciation and amortization 73,031 Taxes, other than income 31,231 Income taxes 48,210 ----------------- 667,045 ----------------- Operating Income 112,733 ----------------- Other Income and Deductions Allowance for equity funds used during construction 786 Other (1,739) Non-operating income taxes 299 ----------------- (654) ----------------- Income Before Interest Charges 112,079 ----------------- Interest Charges Interest on long-term debt 28,128 Interest on short-term debt and other 6,000 Distributions on Trust Preferred Securities 4,046 Allowance for borrowed funds used during construction (1,029) ----------------- 37,145 ----------------- Net Income 74,934 Less: Preferred stock dividends 213 ----------------- Net Income for Common Stock $ 74,721 ================= Southwestern Electric Power Company Exhibit 2 (c) Consolidated Statements of Income (unaudited) Page 1 of 1 - -------------------------------------------------------------------------------- Twelve Months Ended March 31, 1999 ----------------- (thousands) Electric Operating Revenues $ 952,456 ----------------- Operating Expenses and Taxes Fuel 371,452 Purchased power 35,337 Other operating 139,546 Maintenance 53,193 Depreciation and amortization 99,882 Taxes, other than income 59,400 Income taxes 45,623 ----------------- 804,433 ----------------- Operating Income 148,023 ----------------- Other Income and Deductions Allowance for equity funds used during construction 721 Other (908) Non-operating income taxes 1,682 ----------------- 1,495 ----------------- Income Before Interest Charges 149,518 ----------------- Interest Charges Interest on long-term debt 39,227 Distributions on Trust Preferred Securities 8,662 Interest on short-term debt and other 9,263 Allowance for borrowed funds used during construction (1,459) ----------------- 55,693 ----------------- Net Income 93,825 Less: Preferred stock dividends 228 Gain/(Loss) on reacquired preferred stock (857) ================= Net Income for Common Stock $ 92,740 ================= West Texas Utilities Company Exhibit 2 (d) Statements of Income (unaudited) Page 1 of 1 - -------------------------------------------------------------------------------- Twelve Months Ended March 31, 1999 ----------------- (thousands) Electric Operating Revenues $ 422,057 ----------------- Operating Expenses and Taxes Fuel 120,739 Purchased power 48,517 Other operating 87,671 Maintenance 17,658 Depreciation and amortization 42,855 Taxes, other than income 26,571 Income taxes 19,451 ----------------- 363,462 ----------------- Operating Income 58,595 ----------------- Other Income and Deductions Allowance for equity funds used during construction 641 Other 602 Non-operating income taxes 582 ----------------- 1,825 ----------------- Income Before Interest Charges 60,420 ----------------- Interest Charges Interest on long-term debt 20,352 Interest on short-term debt and other 4,738 Allowance for borrowed funds used during construction (701) ----------------- 24,389 ----------------- Net Income 36,031 Less: Preferred stock dividends 104 ================= Net Income for Common Stock $ 35,927 ================= Central and South West Services Exhibit 2 (e) Statements of Income (unaudited) Page 1 of 1 - -------------------------------------------------------------------------------- Twelve Months Ended March 31, 1999 ----------------- (thousands) Operating Expenses and Taxes Fuel $ 3,273 Other operating 200,092 Maintenance 17,510 Depreciation and amortization 9,761 Taxes, other than income 9,584 Income taxes 2,003 ----------------- Operating Income (Loss) (242,223) Other Income and Deductions Other 247,314 ----------------- Income Before Interest Charges 5,091 Interest Charges Interest on long-term debt 1,249 Interest on short-term debt and other 3,842 ----------------- 5,091 ----------------- Net Income for Common Stock $ -- ================= -----END PRIVACY-ENHANCED MESSAGE-----