EX-99.01 5 k68354ex99-01.txt UNAUDITED - MCV SELECTED PROFORMA OPERATING DATA EXHIBIT 99.01 MIDLAND COGENERATION VENTURE LIMITED PARTNERSHIP SELECTED PRO FORMA OPERATING CASH FLOW DATA (a) FOR THE YEARS 2001 AND 2000 (In Millions of Dollars) (Unaudited)
2001 2000 ---- ---- Revenue Power Purchase Agreement $568 $564 Steam and Electric Power Agreement 34 31 Other Revenue (b) 51 24 Interest on Revenue Account 5 9 ---- ---- Total Revenue 658 628 ---- ---- Operating Expenses Fuel, transportation, storage 285 233 Operations and maintenance 40 47 Property, other taxes 27 29 Other 37 33 ---- ---- Total Operating Expenses 389 342 ---- ---- Net Operating Income $269 $286 ==== ==== Lease Payments $278 $286 Coverage Ratios Senior Interest 11.43 7.10 Senior Debt Service 1.41 1.48 Total Interest 3.37 2.91 Total Debt Service 1.09 1.14
(a) The above table presents selected pro forma information on operating cash flows of MCV in a format consistent with that presented in the Feasibility Study to the Prospectus filed as part of MCV's Registration Statement on Form S-1 (File No. 33-3977). This format is used to compute various debt service coverage ratios on an annual basis by aligning annual operating cash flows with the semi-annual rent payments made in July and January of each year. For example, the cash flow presented for 2001 reflects revenues and expenses associated with 2001 activity, as well as the Lease rental payments made on July 23, 2001, and January 23, 2002. In addition to the revenues presented in this table, interest income on reserves totaled $10.2 million in 2001 and $13.4 million in 2000. (b) Includes use of funds available for payment of spare parts, maintenance and capital expenditures that had been reserved in prior years (included in Other Revenue) and funding of reserves for future spare parts, maintenance and capital expenditures (included in Other Expense).