-----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, QKFxr+VT41xjacycRqQ5d1d3r7PfDZAYPb8mRdZVotl53dPhVTFzfEiLVQC8j/L0 lBcuhdoNEnP6EX62eBzYnA== 0000018540-96-000086.txt : 19960625 0000018540-96-000086.hdr.sgml : 19960625 ACCESSION NUMBER: 0000018540-96-000086 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960624 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960624 SROS: CSX SROS: NYSE 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01443 FILM NUMBER: 96584816 BUSINESS ADDRESS: STREET 1: 1616 WOODALL RODGERS FRWY CITY: DALLAS STATE: TX ZIP: 75202 BUSINESS PHONE: 2147541000 8-K 1 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 24, 1996 Commission Registrant, State of Incorporation, I.R.S. Employer File Number Address and Telephone Number Identification No. 1-1443 Central and South West Corporation 51-0007707 (A Delaware Corporation) 1616 Woodall Rodgers Freeway Dallas, TX 75202-1234 (214) 777-1000 0-346 Central Power and Light Company 74-0550600 (A Texas Corporation) 539 North Carancahua Street Corpus Christi, TX 78401-2802 (512) 881-5300 0-343 Public Service Company of Oklahoma 73-0410895 (An Oklahoma Corporation) 212 East 6th Street Tulsa, Oklahoma 74119-1212 (918) 599-2000 1-3146 Southwestern Electric Power Company 72-0323455 (A Delaware Corporation) 428 Travis Street Shreveport, Louisiana 71156-0001 (318) 222-2141 0-340 West Texas Utilities Company 75-0646790 (A Texas Corporation) 301 Cypress Street Abilene, TX 79601-5820 (915) 674-7000 This combined Form 8-K is separately filed by Central and South West Corporation, Central Power and Light Company, Public Service Company of Oklahoma, Southwestern Electric Power Company and West Texas Utilities Company. Information contained herein relating to any individual registrant is filed by such registrant on its own behalf. Each registrant makes no representation as to information relating to the other registrants. 2 Item 7. Financial Statements and Exhibits (c) Exhibits. Exhibit 99.1 - News Release: Central and South West Corporation and Subsidiaries report factors expected to affect second quarter earnings. 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. CENTRAL AND SOUTH WEST CORPORATION Date: June 24, 1996 By: /s/ Lawrence B. Connors Lawrence B. Connors Controller CENTRAL POWER AND LIGHT COMPANY PUBLIC SERVICE COMPANY OF OKLAHOMA SOUTHWESTERN ELECTRIC POWER COMPANY WEST TEXAS UTILITIES COMPANY Date: June 24, 1996 By: /s/ R. Russell Davis R. Russell Davis Controller EX-99.1 2 EXHIBIT 99.1 CENTRAL AND SOUTH WEST CORPORATION AND SUBSIDIARIES REPORT FACTORS EXPECTED TO AFFECT SECOND QUARTER EARNINGS Dallas, Texas (June 24, 1996) -- Central and South West Corporation (NYSE:CSR) today said that it expects to report an after tax gain of approximately $115 million in the second quarter of 1996 from the sale of its Transok, Inc. subsidiary to Tejas Gas Corporation. Central and South West is performing a strategic review in conjunction with its continuing efforts to better position itself to meet increased competition in the electric utility industry. As part of that continuing strategic review, Central and South West said that it is currently evaluating certain investments and contingencies. Among other items included in this review are investments made in prior years for plant sites, engineering studies and lignite reserves, as described in the Corporation's 1995 Annual Report on Form 10-K. Central and South West's U.S. electric operating companies, Central Power and Light Company, Public Service Company of Oklahoma, Southwestern Electric Power Company and West Texas Utilities Company, have made approximately $24 million, $38 million, $34 million and $15 million of such investments, respectively. Central and South West and its subsidiaries are currently reassessing future plans and evaluating the probability of recovery of all or a portion of certain assets and evaluating certain reserves for contingencies. In the event Central and South West and its subsidiaries decide to record appropriate non-cash reserves in the second quarter of 1996, the total amount of these one-time reserves could offset a significant portion of the gain from the sale of Transok in Central and South West's consolidated results of operations. Furthermore, as a result of any non-cash reserves established, certain of Central and South West's U.S. electric operating companies could experience a net loss for the second quarter of 1996. However, there would be a positive cash flow impact resulting from any tax benefits generated. In addition, there would be no material adverse effect on Central and South West's or its U.S. electric operating companies' ongoing results of operation or financial condition. Central and South West sold Transok to Tejas for $690 million in cash on June 6, 1996. As part of the transaction, Transok retained $200 million of its existing debt. Central and South West Corporation, a Dallas-based public utility holding company, owns four electric subsidiary companies in the United States, a regional electricity company in the United Kingdom and nonutility subsidiaries involved in independent power production, telecommunications, energy efficiency and financial transactions. -----END PRIVACY-ENHANCED MESSAGE-----