-----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, BLzZyfvD0kkYdmoKxVHVb+tg6Z1Iky4zU6cQfoJueZtsllD8EH/ExySzv+Mr/y65 W+SttKNoo8lFshCcdw9JJQ== 0000314890-96-000001.txt : 19960229 0000314890-96-000001.hdr.sgml : 19960229 ACCESSION NUMBER: 0000314890-96-000001 CONFORMED SUBMISSION TYPE: U-3A-2 PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960228 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WICOR INC CENTRAL INDEX KEY: 0000314890 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 391346701 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U-3A-2 SEC ACT: 1935 Act SEC FILE NUMBER: 069-00255 FILM NUMBER: 96526460 BUSINESS ADDRESS: STREET 1: 626 E WISCONSIN AVE STREET 2: PO BOX 334 CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 4142917026 U-3A-2 1 WICOR INC. FORM U-3A-2 FOR THE YEAR ENDED 12/31/95 1 File No. 69-255 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM U-3A-2 STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 To Be Filed Annually Prior to March 1 WICOR, Inc. ------------------------------------------------------- (Name of holding company claiming exemption) Robert A. Nuernberg 626 East Wisconsin Avenue Milwaukee, WI 53202 ---------------------------------------------- (Name and address of agent for service) It is respectfully requested that a copy of all communications relating to this filing to be sent to: Joseph P. Wenzler Robert A. Nuernberg Vice President, Treasurer Secretary and Chief Financial Officer WICOR, Inc. WICOR, Inc. 626 East Wisconsin Avenue 626 East Wisconsin Avenue Milwaukee,Wisconsin 53202 Milwaukee, Wisconsin 53202 2 FORM U-3A-2 WICOR, Inc. ("WICOR") hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act, and submits the following information: 1. Name, State of organization, location and nature of business of claimant and every subsidiary thereof, other than any exempt wholesale generator (EWG) or foreign utility company in which claimant directly or indirectly holds an interest. WICOR, the holding company claiming exemption from the provisions of the Act, is incorporated under the laws of the State of Wisconsin and maintains its principal office and place of business in Milwaukee, Wisconsin. It is not engaged directly in any business. It is the sole shareholder of Wisconsin Gas Company ("Wisconsin Gas"), Sta-Rite Industries, Inc. ("Sta-Rite"), SHURflo Pump Manufacturing Co. ("SHURflo"), Hypro Corporation ("Hypro"), WEXCO of Delaware, Inc. ("WEXCO"), WICOR Energy Services Company ("WES") and WICOR Foreign Sales Corporation ("FSC"). Wisconsin Gas is incorporated under the laws of the State of Wisconsin and maintains its principal office and place of business in Milwaukee, Wisconsin. Wisconsin Gas is a "gas utility company" and a "public-utility company" under the Act. At December 31, 1995, Wisconsin Gas distributed gas to 505,000 customers in 503 communities in Wisconsin, where all of its business is conducted. Wisconsin Gas is subject to the jurisdiction of the Public Service Commission of Wisconsin as to various phases of its operations, including rates, service and issuance of securities. Sta-Rite is incorporated under the laws of the State of Wisconsin and maintains its principal office and place of business in Delavan, Wisconsin. Sta-Rite is a manufacturer of pumps and water processing equipment for markets throughout the world. Sta- Rite has manufacturing and assembly activities which are carried on in four plants in the United States, two in Australia and Italy, and one each in Germany, Mexico, New Zealand, and Russia. SHURflo is incorporated under the laws of California and maintains its principal office and place of business in Santa Ana, California. SHURflo is a manufacturer and marketer of pumps for the beverage, recreational vehicle and marine, industrial and water markets. SHURflo has its manufacturing plant in Santa Ana, California, a distribution facility in Indiana, and a sales distribution facility in England. 3 Hypro is incorporated under the laws of the State of Minnesota and maintains its principal office and place of business in New Brighton, Minnesota. Hypro is a manufacturer and marketer of pumps for the agricultural spraying, high pressure cleaning, marine engine cooling, industrial lubrication and recirculation, firefighting, and other fluid pressurization and transfer markets. Hypro has manufacturing plans in New Brighton, Minnesota and Detroit, Michigan. WEXCO is incorporated under the laws of the State of Delaware and maintains its principal office and place of business at 626 East Wisconsin Avenue, Milwaukee, Wisconsin. WEXCO was engaged in natural gas and oil exploration and development through financial partnerships with established independent producers. WEXCO sold substantially all of its properties in 1993. WICOR Energy Services Company, which does business as WICOR Gas Marketing, is incorporated under the laws of the State of Wisconsin and maintains its principal office and place of business in Milwaukee, Wisconsin. WES, formed in 1995, is in the business of selling natural gas and related services, primarily in Wisconsin. FSC is incorporated under the laws of Barbados and maintains its principal office and place of business in Milwaukee. FSC serves as a commission sales agent to each of WICOR's manufacturing subsidiaries. In this manner each manufacturing subsidiary qualifies for the export sale income tax advantage available under the Internal Revenue Code. 2. A brief description of the properties of claimant and each of its subsidiary public utility companies used for the generation, transmission, and distribution of electric energy for sale, or for the production, transmission, and distribution of natural or manufactured gas, indicating the location of principal generating plants, transmission line, producing fields, gas manufacturing plant, and electric and gas distribution facilities including all such properties which are outside the State in which claimant and its subsidiaries are organized and all transmission or pipelines which deliver or receive electric energy or gas at the borders of such State. 4 Wisconsin Gas, the only "public-utility company" of WICOR, operates integrated transmission and distribution facilities in the State of Wisconsin only. On December 31, 1995, Wisconsin Gas' distribution systems included approximately 8,300 miles of mains, 414,000 services and 539,000 active meters. Wisconsin Gas also owns its main office building in Milwaukee, office buildings in certain other communities in which it serves, regulating and metering stations, peaking facilities and its major service centers, including garage and warehouse facilities. All of Wisconsin Gas' properties are located in Wisconsin. 3. The following information for the last calendar year with respect to claimant and each of its subsidiary public utility companies: (a) Number of kwh of electric energy sold (at retail or wholesale), and Mcf of natural or manufactured gas distributed at retail. For the calendar year ended December 31, 1995, 128,808 Mdth of natural gas were sold at retail or transported by Wisconsin Gas. (One dekatherm (dth) equals 1,000,000 Btu's. "Mdth" means one thousand dekatherms, or one billion Btu's.) Neither WICOR nor Wisconsin Gas distributed any manufactured gas at retail during this period. (b) Number of kwh of electric energy and Mcf of natural or manufactured gas distributed at retail outside the State in which each such company is organized. For the calendar year ended December 31, 1995, neither WICOR nor Wisconsin Gas distributed at retail any manufactured or natural gas outside Wisconsin, the State in which each of these companies is organized. (c) Number of kwh of electric energy and Mcf of natural or manufactured gas sold at wholesale outside the State in which each such company is organized, or at the State line. For the calendar year ended December 31, 1995, neither WICOR nor Wisconsin Gas sold at wholesale any natural or manufactured gas outside Wisconsin, the State in which each of these companies is organized, or at the State line. (d) Number of kwh of electric energy and Mcf of natural gas or manufactured gas purchased outside the State in which each such company is organized, or at the State line. 5 For the calendar year ended December 31, 1995, Wisconsin Gas purchased 114,259 Mdth of natural gas outside the State of Wisconsin for its Wisconsin general system supply. 4. The following information for the reporting period with respect to claimant and each interest it holds directly or indirectly in an EWG or a foreign utility company, stating monetary amounts in U.S. dollars. (a) Name, location, business address and description of the facilities used by the EWG or foreign company for the generation, transmission and distribution of electric energy for sale or for the distribution at retail of natural or manufactured gas. None. (b) Name of each system company that holds an interest in such EWG or foreign utility company; and description of the interest held. Not applicable. (c) Type and amount of capital invested, directly or indirectly, by the holding company claiming exemption; any direct or indirect guarantee of the security of the EWG or foreign utility company by the holding company claiming exemption; and any debt or other financial obligation for which there is recourse, directly or indirectly, to the holding company claiming exemption or another system company, other than the EWG or foreign utility company. None. (d) Capitalization and earnings of the EWG or foreign utility company during the reporting period. Not applicable. (e) Identify any service, sale or construction contract(s) between the EWG or foreign utility company and a system company, and describe the services to be rendered or goods sold and fees or revenues under such agreement(s). Not applicable. 6 EXHIBIT 1 A consolidating statement of income and surplus of the claimant and its subsidiary companies for the last calendar year, together with a consolidating balance sheet of claimant and its subsidiary companies as of the close of such calendar year. The following consolidating financial statements of WICOR are filed herewith. WICOR, Inc. and Subsidiaries - Consolidating Statement of Income, Year Ended December 31, 1995 - Consolidating Statement of Retained Earnings, Year Ended December 31, 1995 - Consolidating Balance Sheet, December 31, 1995 EXHIBIT 2 Not required. EXHIBIT 3 An organization chart showing the relationship of each EWG or foreign utility company to associate companies in the holding- company system. Not applicable. The above-named claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 26th day of February, 1996. WICOR, Inc. By /Joseph P. Wenzler/ ------------------- Joseph P. Wenzler Vice President, Treasurer and Chief Financial Officer ATTEST: [CORPORATE SEAL] /Robert A. Nuernberg/ - ------------------------------------------ Robert A. Nuernberg Secretary Name, title and address of officer to whom notices and correspondence concerning the statement should be addressed. Robert A. Nuernberg, Secretary WICOR, Inc. 626 E. Wisconsin Avenue Milwaukee, WI 53202 7 EXHIBIT INDEX ------------- Exhibit No. Exhibit - ----------- ----------------------------------------------- - -- 1 Consolidating Financial Statements of WICOR, Inc. 27 Financial data schedule - OPUR3 EX-1 2 WICOR 1995 CONSOLIDATING FINANCIAL STATEMENTS 1 EXHIBIT 1 WICOR, Inc. and Subsidiaries Consolidating Statement of Income Year Ended December 31, 1995 (Thousands of Dollars)
SHURflo Wisconsin Sta-Rite Pump Hypro WICOR WEXCO of Elim. WICOR, Gas Industries, Manufac- Corpor- Energy WICOR Delaware, and Consol- Inc. Company Inc. turing Co. ation Services FSC Inc. Reclass. idated --------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ---------- Revenues: Operating revenues $ - $ 519,398 $ 262,180 $ 57,145 $ 18,409 $ 3,442 $ 8,927 $ 20 $ (8,927) $ 860,594 Equity in earnings of subsidiary companies 39,052 - - - - - - - (39,052) - --------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ---------- 39,052 519,398 262,180 57,145 18,409 3,442 8,927 20 (47,979) 860,594 --------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ---------- Costs and Expenses: Cost of gas sold - 318,728 - - - 3,470 - - - 322,198 Manufacturing cost of sales - - 199,653 34,446 11,589 - - - - 245,688 Operating and maintenance 936 102,727 50,431 15,686 3,908 789 7,618 32 (7,612) 174,515 Depreciation/amortization 100 28,950 - - 637 9 - - - 29,696 Taxes, other than income taxes 84 9,331 - - - - - 6 - 9,421 --------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ---------- 1,120 459,736 250,084 50,132 16,134 4,268 7,618 38 (7,612) 781,518 --------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ---------- Operating Income 37,932 59,662 12,096 7,013 2,275 (826) 1,309 (18) (40,367) 79,076 Interest Expense (275) (14,312) (3,717) (66) (1,771) - - - 842 (19,299) Other Income and Expense 2,237 (176) (92) (653) (61) 251 - 483 449 2,438 --------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ---------- 1,962 (14,488) (3,809) (719) (1,832) 251 - 483 1,291 (16,861) --------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ---------- Income Before Income Taxes 39,894 45,174 8,287 6,294 443 (575) 1,309 465 (39,076) 62,215 Income Taxes 367 17,097 2,700 2,218 205 (199) 161 161 (22) 22,688 --------- ---------- ----------- ---------- --------- --------- -------- --------- ---------- ---------- Net Income $ 39,527 $ 28,077 $ 5,587 $ 4,076 $ 238 $ (376) $ 1,148 $ 304 $ (39,054) $ 39,527 ========= ========== =========== ========== ========= ========= ======== ========= ========== ========== /TABLE 2 WICOR, Inc. and Subsidiaries Consolidating Balance Sheet
SHURflo December 31, 1995 Wisconsin Sta-Rite Pump Hypro WICOR WEXCO of Elim. (Thousands of Dollars) WICOR, Gas Industries Manufac- Corpor- Energy WICOR Delaware, and Consol- Inc. Company Inc. turing Co. ation Services FSC Inc. Reclass. idated --------- --------- ---------- ---------- -------- -------- ------- --------- ---------- ----------- Assets Current Assets: Cash and cash equivalents $ 4,416 $ 7,463 $ 5,070 $ 524 $ 652 $ 911 $ 1 $ 1,343 $ - $ $20,380 A/R, less allowance for doubtful accts of $10,343* - 65,477 50,291 5,895 9,701 839 - - - 132,203 A/R - intercompany 15,308 748 419 1,013 339 50 1,155 4,021 (23,053) - Accrued utility revenues - 46,935 - - - 1,912 - - - 48,847 Gas in storage - 23,928 - - - 189 - - - 24,117 Manufacturing inventories - - 53,345 6,950 7,941 - - - - 68,236 Deferred income taxes - 16,781 704 929 1,842 - - - - 20,256 Prepayments and other 76 10,985 3,372 350 201 6 - - - 14,990 --------- --------- ---------- ---------- -------- -------- ------- --------- ---------- ----------- 19,800 172,317 113,201 15,661 20,676 3,907 1,156 5,364 (23,053) 329,029 --------- --------- ---------- ---------- -------- -------- ------- --------- ---------- ----------- Invest. - Associated Companies 337,241 - - - - - - - (337,241) - --------- --------- ---------- ---------- -------- -------- ------- --------- ---------- ----------- PP and E, at cost - 757,825 99,946 12,922 6,164 125 - - - 876,982 Less-Accumulated depreciation - 382,424 49,651 8,523 334 10 - - - 440,942 --------- --------- ---------- ---------- -------- -------- ------- --------- ---------- ----------- - 375,401 50,295 4,399 5,830 115 - - - 436,040 --------- --------- ---------- ---------- -------- -------- ------- --------- ---------- ----------- Deferred Charges and Other: Regulatory assets - 104,145 - - - - - - - 104,145 Deferred income taxes - - - - - - - - - - Prepaid pensions - 27,012 6,061 - - - - - - 33,073 Systems development costs - 28,868 - - - - - - - 28,868 Goodwill - - 6,686 - 54,410 - - - - 61,096 Other 578 6,458 7,080 806 1,294 47 - - - 16,263 --------- --------- ---------- ---------- -------- -------- ------- --------- ---------- ----------- 578 166,483 19,827 806 55,704 47 - - - 243,445 --------- --------- ---------- ---------- -------- -------- ------- --------- ---------- ----------- $357,619 $714,201 $ 183,323 $ 20,866 $82,210 $ 4,069 $1,156 $ 5,364 $(360,294) $1,008,514 ========= ========= ========== ========== ======== ======== ======= ========= ========== =========== * Refers to consolidated information. /TABLE 3 WICOR, Inc. and Subsidiaries Consolidating Balance Sheet
SHURflo WEXCO Wisconsin Sta-Rite Pump Man- Hypro WICOR of Dela- Elim. December 31, 1995 WICOR, Gas Industries ufactur- Corpor- Energy WICOR ware, and Consol- (Thousands of Dollars) Inc. Company Inc. ing Co. ation Services FSC Inc. Reclass. idated --------- --------- ---------- --------- -------- -------- ------ --------- ---------- ----------- Current Liabilities: Accounts payable $ 6 $ 41,079 $ 18,771 $ 711 $ 2,096 $ 1,257 $ - $ - $ - $ 63,920 Refundable gas costs - 34,347 - - - - - - - 34,347 A/P - intercompany 1,554 6,658 2,929 1,634 9,172 800 6 297 (23,050) - Short-term borrowings - 57,500 21,877 - 27,000 - - - - 106,377 Current portion of LTD - 4,000 2,825 11 - - - - - 6,836 Accrd payroll and benefits - 8,711 6,913 716 - - - - - 16,340 Accrued taxes 5,020 1,062 857 - - - 1 - - 6,940 Other 155 4,689 8,099 2,745 1,711 2,238 - 1 - 19,638 --------- --------- ---------- --------- -------- -------- ------ --------- ---------- ----------- 6,735 158,046 62,271 5,817 39,979 4,295 7 298 (23,050) 254,398 --------- --------- ---------- --------- -------- -------- ------ --------- ---------- ----------- Deferred Credits: Regulatory liabilities - 64,896 - - - - - - - 64,896 Deferred income taxes (192) 36,654 2,984 (552) 298 50 - 40 - 39,282 Unamort. invest tax credit - 7,724 - - - - - - - 7,724 Environment remediation cost - 36,381 - - - - - - - 36,381 Gas transition costs - 261 - - - - - - - 261 Postretire benefit obligation - 52,968 14,338 - - - - - - 67,306 Other 495 7,864 6,391 (81) 3,496 - - - 122 18,287 --------- --------- ---------- --------- -------- -------- ------ --------- ---------- ----------- 303 206,748 23,713 (633) 3,794 50 - 40 122 234,137 --------- --------- ---------- --------- -------- -------- ------ --------- ---------- ----------- Long-term debt 5,315 154,246 14,641 88 423 - - - - 174,713 Redeemable preferred stock - - - - - - - - - - Common stock 18,237 9 1 100 1 - 1 2 (114) 18,237 Other paid-in capital 219,133 118,842 36,822 2,982 37,775 100 - 17,098 (213,619) 219,133 Retained earnings 113,491 76,310 45,875 12,512 238 (376) 1,148 (12,074) (123,633) 113,491 Unearned compensation (5,595) - - - - - - - - (5,595) --------- --------- ---------- --------- -------- -------- ------ --------- ---------- ----------- 350,581 349,407 97,339 15,682 38,437 (276) 1,149 5,026 (337,366) 519,979 --------- --------- ---------- --------- -------- -------- ------ --------- ---------- ----------- $357,619 $714,201 $ 183,323 $ 20,866 $82,210 $ 4,069 $1,156 $ 5,364 $(360,294) $1,008,514 ========= ========= ========== ========= ======== ======== ====== ========= ========== =========== /TABLE 4 WICOR, Inc. and Subsidiaries Consolidating Statement of Retained Earnings December 31, 1995 (Thousands of Dollars)
SHURflo Wisconsin Sta-Rite Pump Hypro WICOR WEXCO of Elim. WICOR, Gas Industries, Manufac- Corpor- Energy WICOR Delaware, and Consol- Inc. Company Inc. turing Co. ation Services FSC Inc. Reclass. idated --------- --------- ----------- ---------- --------- -------- --------- --------- ---------- --------- Balance-Beginning of Year $101,418 $ 64,233 $ 45,288 $ 10,436 $ - $ - $ - $(12,378) $(107,579) $101,418 Add: Net income 39,527 28,077 5,587 4,076 238 (376) 1,148 304 (39,054) 39,527 --------- --------- ----------- ---------- --------- -------- --------- --------- ---------- --------- 140,945 92,310 50,875 14,512 238 (376) 1,148 (12,074) (146,633) 140,945 --------- --------- ----------- ---------- --------- -------- --------- --------- ---------- --------- Deduct: Common stock dividends, $1.62 per share* 27,454 16,000 5,000 2,000 - - - - (23,000) 27,454 --------- --------- ----------- ---------- --------- -------- --------- --------- ---------- --------- 27,454 16,000 5,000 2,000 - - - - (23,000) 27,454 --------- --------- ----------- ---------- --------- -------- --------- --------- ---------- --------- Balance-End of Year $113,491 $ 76,310 $ 45,875 $ 12,512 $ 238 $ (376) $ 1,148 $(12,074) $(123,633) $113,491 ========= ========= =========== ========== ========= ======== ========= ========= ========== ========= /TABLE EX-27 3 FINANCIAL DATA SCHEDULE - OPUR3
OPUR3 1,000 YEAR DEC-31-1995 DEC-31-1995 PER-BOOK 1,008,514 860,594 39,527
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