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
ENOVA CORPORATION
hereby files with the Securities Exchange Commission, pursuant to Rule
2, its statement claiming exemption as a holding company from the
provisions of the Public Utility Holding Company Act of 1935, 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.
Enova Corporation ("Claimant") is a corporation organized and
existing under the laws of the State of California. Enova
Corporation is a holding company, organized to acquire and hold
securities of other corporations. Enova Corporation's principal place
of business is 101 Ash Street, San Diego, California. Its mailing
address is Post Office Box 129400, San Diego, California 92112-9400.
Enova Corporation has the following subsidiaries:
A. San Diego Gas & Electric Company ("SDG&E") is a public utility
organized and existing as a corporation under the laws of the State of
California. SDG&E is a wholly owned subsidiary of Enova Corporation.
SDG&E is primarily engaged in the business of generating, transmitting
and distributing electric energy in San Diego County and in an adjacent
portion of Orange County, and distributing natural gas in San Diego County.
SDG&E's principal place of business is 101 Ash Street, San Diego,
California. Its mailing address is Post Office Box 1831, San Diego,
California 92112-4150.
B. Pacific Diversified Capital Company ("PDCC") is an independently-
operated holding company organized and existing as a corporation under
the laws of the State of California. PDCC is a wholly owned subsidiary
of Enova Corporation. PDCC owns Phase One Development, Inc. and Phase
One Construction, Inc. (inactive). PDCC's principal place of business
is 101 Ash Street, San Diego, California 92101.
(1) Phase One Development, Inc. ("Phase One") is a corporation
organized and existing under the laws of the State of California.
Phase One is in the business of owning and developing real property.
Phase One's principal place of business is 101 Ash Street, San Diego,
California 92101.
C. Enova Financial, Inc. ("Enova Financial") is a corporation
organized and existing under the laws of the State of California.
Enova Financial is a wholly owned subsidiary of Enova Corporation.
Enova Financial's principal business is investing as a limited partner
in affordable- housing projects located throughout the country. Enova
Financial's principal place of business is 101 Ash Street, San Diego,
California 92101.
D. Califia Company ("Califia") is a corporation organized and
existing under the laws of the State of California. Except for an
immaterial number of shares of non-voting preferred stock, Califia is a
wholly owned subsidiary of Enova Corporation. Califia is an equipment-
leasing company, specializing in leasing computer equipment. Califia's
principal place of business is 101 Ash Street, San Diego, California
92101.
E. Enova Energy, Inc. is a corporation organized and existing under
the laws of the State of California. It is a wholly owned subsidiary of
Enova Corporation and is an energy-management-consulting firm. Its
primary business is resource management consulting (including
generation, purchased power and transmission) and fuel and power
procurement consulting for utilities and large end-users. Its
principal place of business is 9855 Scranton Road, Suite 100, San Diego,
California 92121.
F. Enova Technologies, Inc. is a corporation organized and existing
under the laws of the State of California. It is a wholly owned
subsidiary of Enova Corporation. It is in the business of developing
new technologies generally related to the utility and energy businesses.
Its principal place of business is 9855 Scranton Road, Suite 100, San Diego,
California 92121.
G. Enova International is a corporation organized and existing under
the laws of the State of California. It is a wholly owned subsidiary
of Enova Corporation and is involved in natural-gas and power
projects outside the United States. Its principal place of business is
101 Ash Street, San Diego, California 92101.
(1) Enova Mexico S.A. de C.V. is a wholly owned subsidiary of Enova
International. It is involved in natural-gas and power projects in Mexico.
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 LINES, PRODUCING FIELDS, GAS MANUFACTURING PLANTS, 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.
Enova Corporation is not a "public utility company" for the
purposes of the Public Utilities Holding Company Act of 1935 (the
"Act"), and does not own any such properties.
2
SDG&E Electric Utility Properties:
- ---------------------------------
SDG&E operates nine oil and gas-fueled generating units, with net
capability of 1,641 MW, located in San Diego County. The four South
Bay units (690 MW), located in the City of Chula Vista, went into
operation between 1960 and 1971; the five Encina units (951 MW),
located in the City of Carlsbad, went into operation between 1954 and
1978. SDG&E owns 100% of all of these units except Encina 5 (330 MW),
which SDG&E sold and leased back in 1978, with a lease term through
2004 and renewal options for up to 15 additional years. SDG&E owns 19
gas-fired combustion turbines with net capability of 332 MW, which were
placed in service from 1966 to 1979; these turbines are located at
various sites in San Diego County and are used only for emergency and
peak demand. SDG&E owns 20% of the three nuclear units at San Onofre
Nuclear Generating Station ("SONGS"), located in San Diego County,
south of San Clemente at the Camp Pendleton United States Marine Base.
SONGS is primarily owned and operated by Southern California Edison
Company ("Edison"). SONGS 1 has been permanently shut down. SDG&E's
share of SONGS 2 and 3 amounts to an aggregate of 430 MW. SDG&E owns
another 230-MW diesel- and gas-fueled plant in San Diego County, which
is in storage and is not expected to return to service.
SDG&E's transmission facilities consist of transmission lines and
transmission substations operating at various voltages from 69 kV
(69,000 volts) upwards to 500 kV. SDG&E owns the transmission
facilities located in the area in which it serves (San Diego County and
an adjacent portion of Orange County), as well as all or
portions (specified below) of the three segments of the Southwest
PowerLink (SWPL), a 500-kV transmission line extending from SDG&E's
Miguel Substation in Southern San Diego County to the Palo Verde
Nuclear Generating Station west of Phoenix, Arizona, via two
intermediary substations at Imperial Valley, California and North Gila,
Arizona.
SDG&E's transmission system consists of the following:
- 500 kV: 279.00 circuit-miles (159.0 miles in
California, 120.0 miles in Arizona)
- 230 kV: 358.45 circuit-miles (all in California)
- 138 kV: 317.64 circuit-miles (all in California)
- 69 kV: 925.18 circuit-miles (all in California)
SDG&E is interconnected to various utilities for the purpose of
buying and selling electric power and energy, as well as for mutual
reliability. SDG&E is interconnected with Edison at the San Onofre 230-
kV bus. SDG&E's system connects to the Mexico utility Comision Federal
de Electricidad via two 230 kV transmission lines, one from Miguel
Substation to Tijuana Substation and the other from Imperial Valley
Substation to La Rosita Substation (each line owned by SDG&E on the
U.S. side of the international border). The Miguel-Imperial Valley
segment of the SWPL (100% owned by SDG&E) provides an interconnection
to the system of Imperial Irrigation District; the Imperial Valley -
North Gila segment of the SWPL (85.64% owned by SDG&E) provides an
interconnection with Arizona Public Service; and the North Gila-Palo
Verde segment of the SWPL (76.22% owned by SDG&E) provides the final
leg for accessing power at the Palo Verde 500-kV bus, at which power
from various sources can be obtained by SDG&E. All the substations at
these interconnections are jointly owned by SDG&E and the respective
interconnected utilities.
SDG&E's distribution facilities consist of approximately 8,700
circuit miles of overhead lines and 9,100 circuit miles of underground
lines located in San Diego and Orange Counties.
3
SDG&E Gas Utility Properties:
- ----------------------------
SDG&E owns and operates facilities used for the distribution of
natural gas to its electric generating units and to retail customers
for heat, light and power in San Diego County. SDG&E's natural gas
facilities are located in San Diego and Riverside Counties. Gas
facilities consist of transmission facilities (compressor stations of
16,900 horsepower in Moreno and of 3,080 horsepower in Rainbow),
approximates 6,830 miles of high-pressure transmission pipelines,
approximately 6,679 miles of high-pressure and low-pressure distribution
mains, and approximately 5,512 miles of service lines. All natural gas is
delivered to SDG&E under a transportation and storage agreement with
Southern California Gas Company through two transmission pipelines and
one distribution pipeline owned by Southern California Gas, with a
combined capacity of 525 million cubic feet per day.
3. INFORMATION FOR CALENDAR YEAR 1996 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.
Electric(kwh) Gas(Mcf)
Enova Corporation: None None
SDG&E: Retail: 16,045,261,604 94,638,603
Wholesale: 649,946,500 None
Excludes customer-owned natural gas transported to retail
customers by SDG&E.
Excludes exchanges of natural gas and electricity with wholesale
suppliers that are not considered sales or purchases under the Federal
Power Act.
(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.
Enova Corporation: None
SDG&E: None
(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.
Electric(kwh) Gas(Mcf)
------------- ---------
Enova Corporation: None None
SDG&E: 630,115,000 1,010,684
(d). NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR
MANUFACTURED GAS PURCHASED OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY
IS ORGANIZED, OR AT THE STATE LINE.
Electric(kwh) Gas(Mcf)
------------- ---------
Enova Corporation: None None
SDG&E: 8,409,675,000 96,391,506
Excludes exchanges of natural gas and electricity with wholesale
suppliers that are not considered sales or purchases under the Federal
Power Act.
4
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 UNITED STATES
DOLLARS:
(a). NAME, LOCATION, BUSINESS ADDRESS AND DESCRIPTION OF THE
FACILITIES USED BY THE EWG OR FOREIGN UTILITY 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.
Not applicable.
(d). CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY
COMPANY DURING THE REPORTING PERIOD.
Not applicable.
(e). IDENTIFY ANY SERVICE, SALES 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.
EXHIBIT A
Consolidating Statements of income and surplus of Enova
Corporation's subsidiary companies for the year ended December 31,
1996, together with consolidating balance sheets of Enova Corporation's
subsidiary companies as of the close at December 31, 1996, are attached
as Exhibit A.
5
EXHIBIT B
Financial Data Schedule
If, at the time a report on this form is filed, the registrant is required
to submit this report and any amendments thereto electronically via EDGAR,
the registrant shall furnish a Financial Data Schedule. The Schedule shall set
forth the financial and other data specified below that are applicable to the
registrant on a consolidated basis. See Ex-27
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
Not Applicable.
6
The above-named Enova Corporation has caused this statement to be duly
executed on its behalf by its authorized officer as of the 28th day of February,
1997.
ENOVA CORPORATION
By : /s/Frank H Ault
-------------------------------
Frank H. Ault
Vice President and Controller
Corporate Seal
Attest:
/s/ Constance K. Goates
- -----------------------
Constance K. Goates
Assistant Secretary
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Frank H. Ault
Vice President and Controller
Post Office Box 129400
San Diego, California 92112-9400
Exhibit A
Enova Corporation/
Consolidating Income Statement
In Thousands of Dollars
For the Year Ended December 31, 1996
ENOVA ENOVA ENOVA
SDG&E PDCC CALIFIA FINANCIAL ENERGY INTERNATIONAL
---------- ------- --------- --------- ---------- -------------
OPERATING REVENUES
Electric $1,590,882 $ $ $ $
Gas 348,035
Other 53,565 789
---------- ------- --------- --------- ------------ ------------
TOTAL OPERATING REVENUES 1,938,917 53,565 789
---------- ------- --------- --------- ------------ ------------
OPERATING EXPENSES
Electric fuel 134,350
Purchased power 310,731
Gas purchased for resale 152,151 257
Maintenance 57,652
Depreciation & decommissioning 314,278 13,672 4,540
Property and other taxes 44,761
General and administrative 247,653 547 575 476 9,088 939
Other 166,394 41,384 3,933 18
Income taxes 202,185 (12,611) (31,416) (149)
---------- -------- -------- --------- ------------ ------------
TOTAL OPERATING EXPENSES 1,630,155 547 43,020 (22,467) 9,214 939
---------- -------- -------- --------- ------------ ------------
Operating Income 308,762 (547) 10,545 22,467 (8,425) (939)
---------- -------- -------- --------- ------------ ------------
Other Income and (Deductions)
Allowance for equity funds used
during construction 5,898
Taxes on non-operating income 4,227 (1,230)
Other-net (5,431) 3,999 (85) 2,175 (972)
---------- -------- -------- --------- ------------ ------------
Total other income & (deductions) 4,694 2,769 (85) 2,175 (972)
---------- -------- -------- --------- ------------ ------------
Income Before Interest Charges 313,456 2,222 10,460 24,642 (9,397) (939)
---------- -------- -------- --------- ------------ ------------
Interest Charges
Long-term debt 76,463 1,387 11,348
Short-term debt and other 17,516 1,936 48 13
Allowance for borrowed funds used
during construction (3,288)
Preferred Dividend of SDG&E
---------- -------- -------- --------- ------------ ------------
Net interest charges & pref. div. 90,691 1,936 1,387 11,348 48
---------- -------- -------- --------- ------------ ------------
Net Income(loss) (before preferred
dividend requirements) 222,765 286 9,073 13,294 (9,445) (952)
Preferred Dividend of SDG&E 6,582 - - - - -
---------- -------- -------- --------- ------------ ------------
Earnings Applicable to
Common $ 216,183
==========
Exhibit A
Enova Corporation
Consolidating Income Statement
In Thousands of Dollars
For the Year Ended December 31, 1996
Adjustments
ENOVA ENOVA and
TECHNOLOGY CORP Eliminations Consolidated
---------- ------- ------------ ------------
OPERATING REVENUES
Electric $ $ $ $1,590,882
Gas 348,035
Other 203 54,557
---------- ------- ------------ ------------
TOTAL OPERATING REVENUES 203 1,993,474
---------- ------- ------------ ------------
OPERATING EXPENSES
Electric fuel 134,350
Purchased power 310,731
Gas purchased for resale 152,408
Maintenance 57,652
Depreciation & decommissioning 332,490
Property and other taxes 3 44,764
General and administrative 2,451 329 262,058
Other 516 212,245
Income taxes (6,538) 342 151,813
----------- -------- ------------ -----------
TOTAL OPERATING EXPENSES (2,454) (5,693) 342 1,658,511
----------- -------- ------------ -----------
Operating Income (2,251) 5,693 (342) 334,963
----------- -------- ------------ -----------
Other Income and (Deductions)
Allowance for equity funds used
during construction 5,898
Taxes on non-operating income 342 3,339
Other-net (1,682) 2,528 (3,797) (3,265)
----------- -------- ------------ -----------
Total other income & (deductions) (1,682) 2,528 (3,455) 5,972
----------- -------- ------------ -----------
Income Before Interest Charges (3,933) 8,221 (3,797) 340,935
----------- -------- ------------ -----------
Interest Charges
Long-term debt 89,198
Short-term debt and other 5 1,795 (3,797) 17,516
Allowance for borrowed funds used
during construction (3,288)
Preferred Dividend of SDG&E 6,582 6,582
---------- -------- ------------ -----------
Net interest charges & pref. div. 5 1,795 2,785 110,008
---------- -------- ------------ -----------
Net Income(loss) (before preferred
dividend requirements) (3,938) 6,426 (6,582) 230,927
Preferred Dividend of SDG&E (6,582)
----------- -------- ------------ ----------
Earnings(loss) Applicable to
Common Shares $230,927
=========== ======== ============ ==========
Enova Corporation
Consolidating Statement of Retained Earnings
For the Year Ending December 31, 1996
In Thousands of Dollars
ENOVA ENOVA ENOVA
SDG&E PDCC CALIFIA FINANCIAL ENERGY INTERNATIONAL
--------- --------- ------- --------- --------- -------------
Balance, December 31, 1995 $ 662,566 $(49,186) $26,379 $22,409 $ $
Net Income 222,765 286 9,073 13,294 (9,445) (952)
Subsidiaries transferred to
Enova Corporation (150,437)
Dividends declared:
To Enova Corporation (27,000)
Preferred stock (6,582) (550)
Common stock (181,867)
---------- --------- ------- -------- --------- --------------
Balance December 31, 1996 $ 546,445 $(48,900) $ 7,902 $35,703 $(9,445) (952)
========== ========= ======= ======== ========= ==============
Enova Corporation
Consolidating Statement of Retained Earnings
For the Year Ending December 31, 1996
In Thousands of Dollars
Adjustments
ENOVA ENOVA and
TECHNOLOGY CORP. Eliminations Consolidated
---------- --------- ------------ ------------
Balance, December 31, 1995 $ $ $ 398 $662,566
Net Income (3,938) 230,927 (231,083) 230,927
Subsidiaries transferred to
Enova Corporation 150,437
Dividends declared:
To Enova Corporation 181,867 (154,867)
Preferred stock 7,132
Common stock) (181,867) 181,867 (181,867)
---------- ---------- ---------- -------------
Balance December 31, 1996 $ (3,938) $ 381,364 $(196,553) $711,626
========== ========== ========== =============
Enova Corporation
Consolidating Balance Sheet
In Thousands of Dollars
For the Period Ended December 31, 1996
Enova Enova Enova
SDG&E PDCC CALIFIA Financial Energy International
---------- -------- --------- --------- ------------ ------------
ASSETS
Utility plant--at original cost $5,704,464 $ $ $ $ $
Accumulated depreciation
and decommissioning (2,630,093)
----------- --------- ---------- ---------- ---------- -------------
Utility plant--net 3,074,371
----------- --------- ---------- ---------- ---------- -------------
Investments and other property 337,520 12,164 29,448 266,113 203 2,100
----------- --------- ---------- ---------- ---------- -------------
CURRENT ASSETS
Cash and temporary investments 81,409 347 264 73,369 327 165
Accounts receivable 187,986 16 67 335 238
Notes receivable 33,564
Inventories 63,078 329
Due from affiliates 28,906 10
Other 33,227 51 13,776 15
---------- -------- --------- --------- ---------- ------------
TOTAL CURRENT ASSETS 365,700 414 76,510 73,436 1,006 413
---------- -------- --------- --------- ---------- ------------
Deferred taxes recoverable in rates 189,193
Deferred income taxes 3,864
Deferred charges and other assets 193,732 12,092 20,899 1,073 282
---------- -------- --------- --------- ---------- -----------
TOTAL ASSETS $4,160,516 $ 24,670 $ 130,721 $ 340,622 $ 1,491 $ 2,513
========== ======== ========= ========= ========== ===========
CAPITALIZATION AND LIABILITIES
CAPITALIZATION
Common equity $1,404,136 $ 11,972 $ 35,930 $ 97,603 $ (2,392) $ 2,274
Preferred stock not subject
to mandatory redemption 78,475 5,235
Preferred stock subject to
mandatory redemption 25,000
Long-term debt 1,284,816 5,473 189,049
----------- -------- --------- --------- ---------- -----------
TOTAL CAPITALIZATION 2,792,427 11,972 46,638 286,652 (2,392) 2,274
----------- -------- --------- --------- ---------- -----------
CURRENT LIABILITIES
Current portion long-term debt 33,639 6,261 30,002
Accounts payable 174,884 32 41 73 687 21
Due to affiliates 7,214 10,304 3,094 218
Dividends payable 47,131 82
Taxes accrued
Interest accrued 12,824 8,435
Regulatory balancing accounts
overcollected-net 35,338
Other 110,743 67 47,380 27
----------- -------- --------- --------- ---------- -----------
TOTAL CURRENT LIABILITIES 421,773 10,403 53,764 38,510 3,808 239
---------- -------- --------- --------- ---------- ------------
Customer advances for construction 34,666
Accumulated deferred income
taxes 487,119 376 15,460
Accumulated deferred investment
tax credit 64,410
Deferred credits and other
liabilities 360,121 1,919 30,319 75
---------- -------- --------- --------- ---------- ------------
TOTAL CAPITALIZATION & $4,160,516 $ 24,670 $ 130,721 $ 340,622 $1,491 $ 2,513
LIABILITIES ========== ======== ========= ========= ========== ============
Enova Corporation
Consolidating Balance Sheet
In Thousands of Dollars
For the Period Ended December 31, 1996
Adjustments
Enova Enova and
Technology Corporation Eliminations Consolidated
---------- ------------ ------------ -------------
ASSETS
Utility plant--at original cost $ $ $ $5,704,464
Accumulated depreciation
and decommissioning (2,630,093)
----------- ----------- ------------ -------------
Utility plant--net 3,074,371
----------- ----------- ------------ -------------
Investments and other property 2,822 1,609,759 (1,609,941) 650,188
----------- ----------- ------------ -------------
CURRENT ASSETS
Cash and temporary investments 5,271 11,927 173,079
Accounts receivable (2,113) 186,529
Notes receivable 33,564
Inventories 30 63,437
Due from affiliates 16,612 (45,528)
Other 320 (295) 47,094
---------- ---------- ------------ -------------
TOTAL CURRENT ASSETS 5,621 28,539 (47,936) 503,703
---------- ---------- ------------ -------------
Deferred taxes recoverable in rates 189,193
Deferred income taxes (3,864)
Deferred charges and other assets 1,027 2,677 231,782
---------- ----------- ------------- -------------
TOTAL ASSETS $ 9,470 $1,640,975 $(1,661,741) $4,649,237
========== =========== ============= =============
CAPITALIZATION AND LIABILITIES
CAPITALIZATION
Common equity $ 8,884 $1,570,484 $(1,559,221) $1,569,670
Preferred stock not subject
to mandatory redemption (5,235) 78,475
Preferred stock subject to
mandatory redemption 25,000
Long-term debt 1,479,338
---------- ---------- ----------- -----------
TOTAL CAPITALIZATION 8,884 1,570,484 1,564,456) 3,152,483
---------- ---------- ----------- -----------
CURRENT LIABILITIES
Current portion long-term debt 69,902
Accounts payable 77 175,815
Due to affiliates 409 24,711 (45,950)
Dividends payable 45,485 (45,485) 47,213
Taxes accrued 295 (295)
Interest accrued 21,259
Regulatory balancing accounts
overcollected-net 35,338
Other 100 158,317
---------- -------- ----------- -------------
TOTAL CURRENT LIABILITIES 586 70,491 (91,730) 507,844
---------- -------- ----------- -------------
Customer advances for construction 34,666
Accumulated deferred income
taxes (5,555) 497,400
Accumulated deferred investment
tax credit 64,410
Deferred credits and other
liabilities 392,434
---------- --------- ------------ --------------
TOTAL CAPITALIAZATION & $9,470 $1,640,975 $(1,661,741) $ 4,649,237
LIABILITIES ========== ========= ============ ==============
7
OPUR3
1000
YEAR
DEC-31-1996
DEC-31-1996
PER-BOOK
4,649,237
1,993,474
230,927
