35-CERT 1 ccpcsec.txt CONESVILLE COAL PREPARATION COMPANY QUARTERLY REPORT PER REQUIREMENTS OF HOLDING COMPANY ACT RELEASE NO. 23463 BY MONTH, FOR THE QUARTER ENDED JUNE 30, 2001 CONTENTS Page Statements of Income 1 Balance Sheets 2 Information Concerning Coal Washing Facility 3 Statements of Quantities of Coal Processed and Customer Billings for Coal Washing Services 4 Statements of Cost of Operation 5 Price Per Ton of Coal Deliveries 6 CONESVILLE COAL PREPARATION COMPANY STATEMENTS OF INCOME BY MONTH, FOR THE QUARTER ENDED JUNE 30, 2001 (UNAUDITED)
Three Months Month Ended Ended ------------------------------------ April 30, May 31, June 30, June 30, 2001 2001 2001 2001 --------- ------- -------- -------- (in thousands) OPERATING REVENUES - Services to Parent . . . . . . . . $782 $1,052 $840 $2,674 COST OF OPERATION. . . . . . . . . . 714 1,077 934 2,725 ---- ------ ---- ------ OPERATING INCOME (LOSS). . . . . . . 68 (25) (94) (51) NONOPERATING INCOME (LOSS) . . . . . (86) 48 138 100 ---- ------ ---- ------ INCOME (LOSS) BEFORE INTEREST CHARGES . . . . . . . . . (18) 23 44 49 INTEREST CHARGES . . . . . . . . . . - 5 30 35 ---- ------ ---- ------ INCOME (LOSS) BEFORE FEDERAL INCOME TAXES . . . . . . . . . . . (18) 18 14 14 FEDERAL INCOME TAX EXPENSE (CREDIT). (24) 12 8 (4) ---- ------ ---- ------ NET INCOME . . . . . . . . . . . . . $ 6 $ 6 $ 6 $ 18 ==== ====== ==== ====== The common stock of the Company is wholly owned by Columbus Southern Power Company.
CONESVILLE COAL PREPARATION COMPANY BALANCE SHEETS BY MONTH-END, FOR THE QUARTER ENDED JUNE 30, 2001 (UNAUDITED)
April 30, May 31, June 30, 2001 2001 2001 --------- ------- -------- (in thousands) ASSETS ------ MINING PLANT: Mining Plant in Service . . . . . . . . . . . $2,284 $12,041 $2,283 Accumulated Amortization. . . . . . . . . . . 1,482 1,881 1,596 ------ ------- ------ NET MINING PLANT . . . . . . . . . . . 802 10,160 687 ------ ------- ------ OTHER PROPERTY AND INVESTMENTS. . . . . . . . . 180 169 163 ------ ------- ------ CURRENT ASSETS: Cash and Cash Equivalents . . . . . . . . . . 27 37 38 Accounts Receivable: General . . . . . . . . . . . . . . . . . . 21 21 21 Affiliated Companies. . . . . . . . . . . . 796 1,840 846 Advances to Affiliates. . . . . . . . . . . . 1,645 - 1,383 Materials and Supplies. . . . . . . . . . . . 1,073 1,071 1,039 Other . . . . . . . . . . . . . . . . . . . . - 1 1 ------ ------- ------ TOTAL CURRENT ASSETS . . . . . . . . . 3,562 2,970 3,328 ------ ------- ------ DEFERRED INCOME TAXES . . . . . . . . . . . . . 1,070 1,086 1,104 ------ ------- ------ REGULATORY ASSETS . . . . . . . . . . . . . . . 197 89 85 ------ ------- ------ TOTAL. . . . . . . . . . . . . . . . $5,811 $14,474 $5,367 ====== ======= ====== CAPITALIZATION AND LIABILITIES ------------------------------ SHAREHOLDER'S EQUITY: Common Stock - Par Value $1,000: Authorized - 500 Shares Outstanding - 100 Shares. . . . . . . . . . $ 100 $ 100 $ 100 Paid-in Capital . . . . . . . . . . . . . . . 400 400 400 Retained Earnings . . . . . . . . . . . . . . 1,053 1,059 1,065 ------ ------- ------ TOTAL SHAREHOLDER'S EQUITY . . . . . . 1,553 1,559 1,565 ------ ------- ------ OTHER NONCURRENT LIABILITIES. . . . . . . . . . 2,262 2,124 2,135 ------ ------- ------ CURRENT LIABILITIES: Accounts Payable: General . . . . . . . . . . . . . . . . . . 139 101 92 Affiliated Companies. . . . . . . . . . . . 401 412 317 Advances from Affiliates. . . . . . . . . . - 9,038 - Accrued Rentals . . . . . . . . . . . . . . . 290 - - Other . . . . . . . . . . . . . . . . . . . . 932 789 803 ------ ------- ------ TOTAL CURRENT LIABILITIES. . . . . . . 1,762 10,340 1,212 ------ ------- ------ DEFERRED GAIN ON SALE OF PLANT. . . . . . . . . 158 - - ------ ------- ------- REGULATORY LIABILITIES & DEFERRED CREDITS . . . 76 451 455 ------ ------- ------ TOTAL. . . . . . . . . . . . . . . . $5,811 $14,474 $5,367 ====== ======= ======
CONESVILLE COAL PREPARATION COMPANY INFORMATION CONCERNING COAL WASHING FACILITY FOR THE QUARTER ENDED JUNE 30, 2001 LEASE BUYOUT, SALE AND LEASE-BACK In May 2001, the Company purchased the leased coal washing facility (the facility) from the lessor for $9.8 million. The purchase was largely financed by advances received from the American Electric Power System Money Pool (Money Pool). In June 2001, the Company sold the facility for $9.2 million, repaid the money pool advances and leased it back under a new 5-year operating lease which commenced on July 1, 2001. The facility was sold for net book value. CONESVILLE COAL PREPARATION COMPANY STATEMENTS OF QUANTITIES OF COAL PROCESSED AND CUSTOMER BILLINGS FOR COAL WASHING SERVICES BY MONTH, FOR THE QUARTER ENDED JUNE 30, 2001
Services Rendered to Columbus Southern Raw Clean Power Company's Coal Coal Conesville Plant* Input Rejects Output Unit Price Amount ---------------- ------- ------- ------ ---------- ------ (Month/Year) (tons) (tons) (tons) (per ton) (000) April 2001. . . . . . . . . . 157,925 22,145 135,780 $5.76 $ 782 ======= ====== ======= ===== ====== May 2001. . . . . . . . . . . 257,034 40,465 216,569 $4.86 $1,052 ======= ====== ======= ===== ====== June 2001 . . . . . . . . . . 287,143 40,438 246,705 $3.40 $ 840 ======= ====== ======= ===== ====== * Jointly owned by Cincinnati Gas & Electric Company, Dayton Power & Light Company and Columbus Southern Power Company, the parent of Conesville Coal Preparation Company.
CONESVILLE COAL PREPARATION COMPANY STATEMENTS OF COST OF OPERATION BY MONTH, FOR THE QUARTER ENDED JUNE 30, 2001
Three Months April May June Ended 2001 2001 2001 6/30/01 ----- ---- ---- ------- (in thousands) Labor-UMW*. . . . . . . . . . . . . . . . . . $ 82 $ 75 $ 80 $ 237 Benefits-UMW* . . . . . . . . . . . . . . . . 159 99 94 352 Office Salaries and Benefits. . . . . . . . . 111 111 97 319 Operating Materials . . . . . . . . . . . . . 32 56 44 132 Maintenance - Materials and Services. . . . . 74 58 132 264 Electricity . . . . . . . . . . . . . . . . . 50 54 58 162 Other Billed Services . . . . . . . . . . . . 58 77 (16) 119 Rent. . . . . . . . . . . . . . . . . . . . . 292 (36) 37 293 Amortization of Deferred Gain on Sale of Plant . . . . . . . . . . . . . . . 20 - - 20 Depreciation. . . . . . . . . . . . . . . . . 40 383 211 634 Cleaning Cost Normalization** . . . . . . . . (255) 148 140 33 Other . . . . . . . . . . . . . . . . . . . . 51 52 57 160 ---- ------ ---- ------ Total . . . . . . . . . . . . . . . $714 $1,077 $934 $2,725 ==== ====== ==== ====== * United Mine Workers of America. ** Represents the deferral/accrual required to establish revenue based on forecasted results for the remainder of the year. The amount of cleaning cost normalization is established on an "overall" company basis (i.e., not itemized) and is eliminated by year-end.
COLUMBUS SOUTHERN POWER COMPANY PRICE PER TON OF COAL DELIVERIES BY MONTH, FOR THE QUARTER ENDED JUNE 30, 2001
April May June 2001 2001 2001 ----- ---- ---- Clean Coal Deliveries from Conesville Coal Preparation Plant (a) . . . . . . . . . . . . . . . . $33.98 * $33.87 * $31.93 * ====== ====== ====== Notes: (a) Coal cleaned by Conesville Coal Preparation Plant and delivered to Columbus Southern Power's Conesville Generating Plant. These deliveries of clean coal will normally consist of coal cleaned from beginning inventory as well as current month deliveries. * Average price per ton.