-----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, BmJo5o81/TS6x/P0xEmhQFvS86Uo4Czb53mIwg9L+AEWnbMRYM7JWoC527ZqQBuv QyBSHqfPIZ5RH8OBCb72Mw== 0000318819-97-000019.txt : 19971117 0000318819-97-000019.hdr.sgml : 19971117 ACCESSION NUMBER: 0000318819-97-000019 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970930 FILED AS OF DATE: 19971114 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN WATER WORKS CO INC CENTRAL INDEX KEY: 0000318819 STANDARD INDUSTRIAL CLASSIFICATION: WATER SUPPLY [4941] IRS NUMBER: 510063696 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-03437 FILM NUMBER: 97718772 BUSINESS ADDRESS: STREET 1: 1025 LAUREL OAK RD CITY: VOORHEES STATE: NJ ZIP: 08043 BUSINESS PHONE: 6093468200 MAIL ADDRESS: STREET 1: 1025 LAUREL OAK ROAD CITY: VOORHEES STATE: NJ ZIP: 08043 10-Q 1 FORM 10-Q Page 1 of 18 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) (X) QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 1997 --------------------------------------------- OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to -------------------------- ----------------- Commission File Number 1-3437-2 -------------------------------------------------- AMERICAN WATER WORKS COMPANY, INC. - --------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 51-0063696 - ------------------------------- ----------------------------------- (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 1025 Laurel Oak Road, Voorhees, New Jersey 08043 - --------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (609) 346-8200 - --------------------------------------------------------------------------- (Registrant's telephone number, including area code) Not Applicable - --------------------------------------------------------------------------- (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes X No ----- ----- At November 1, 1997, the number of shares of common stock, $1.25 par value, outstanding was 79,515,584 shares. Page 2 FORM 10-Q PART I FINANCIAL INFORMATION ---------------------------- Item 1. Financial Statements ----------------------------- AMERICAN WATER WORKS COMPANY, INC. AND SUBSIDIARY COMPANIES ----------------------------------------------------------- Consolidated Statements of Income and Retained Earnings (Unaudited) (In thousands, except per share amounts) Three Months Ended September 30, 1997 1996 -------- -------- CONSOLIDATED INCOME Operating revenues $266,012 $247,616 -------- -------- Operating expenses Operation and maintenance 113,345 112,012 Depreciation and amortization 25,994 23,620 General taxes 21,765 20,439 -------- -------- 161,104 156,071 -------- -------- Operating income 104,908 91,545 Allowance for other funds used during construction 1,817 657 Other income 699 1,875 -------- -------- 107,424 94,077 -------- -------- Income deductions Interest 36,600 34,068 Allowance for borrowed funds used during construction (1,329) (615) Amortization of debt expense 400 383 Preferred dividends of subsidiaries 878 901 Other deductions 519 417 -------- -------- 37,068 35,154 -------- -------- Income before income taxes 70,356 58,923 Provision for income taxes 26,865 22,617 -------- -------- Net income 43,491 36,306 Dividends on preferred stocks 996 996 -------- -------- Net income to common stock $ 42,495 $ 35,310 ======== ======== Weighted average shares of common stock outstanding 79,410 77,949 Earnings per common share on weighted average shares outstanding $ 0.54 $ 0.45 ======== ======== Page 3 FORM 10-Q Three Months Ended September 30, 1997 1996 -------- -------- CONSOLIDATED RETAINED EARNINGS Balance at beginning of period $679,943 $633,420 Add - net income 43,491 36,306 Deduct - adjustment for 1996 two-for-one stock split, in the form of a 100% stock dividend, on shares issued during the period 0 73 -------- -------- 723,434 669,653 -------- -------- Deduct - dividends Preferred stock 882 882 Preference stock 114 114 Common stock - $.19 per share in 1997; $.175 per share in 1996 15,058 13,625 -------- -------- 16,054 14,621 -------- -------- Balance at end of period $707,380 $655,032 ======== ======== The accompanying notes are an integral part of these financial statements.
Page 4 FORM 10-Q AMERICAN WATER WORKS COMPANY, INC. AND SUBSIDIARY COMPANIES ----------------------------------------------------------- Consolidated Statements of Income and Retained Earnings (Unaudited) (In thousands, except per share amounts) Nine Months Ended September 30, 1997 1996 -------- -------- CONSOLIDATED INCOME Operating revenues $717,284 $674,426 -------- -------- Operating expenses Operation and maintenance 318,494 321,081 Depreciation and amortization 76,406 68,113 General taxes 65,999 61,465 -------- -------- 460,899 450,659 -------- -------- Operating income 256,385 223,767 Allowance for other funds used during construction 4,844 5,363 Other income 1,053 2,714 -------- -------- 262,282 231,844 -------- -------- Income deductions Interest 108,701 101,388 Allowance for borrowed funds used during construction (3,149) (4,284) Amortization of debt expense 1,187 1,100 Preferred dividends of subsidiaries 2,652 2,722 Other deductions 1,814 1,204 -------- -------- 111,205 102,130 -------- -------- Income before income taxes 151,077 129,714 Provision for income taxes 57,916 49,872 -------- -------- Net income 93,161 79,842 Dividends on preferred stocks 2,988 2,988 -------- -------- Net income to common stock $ 90,173 $ 76,854 ======== ======== Average shares of common stock outstanding 79,075 73,347 Earnings per common share on average shares outstanding $ 1.14 $ 1.05 ======== ======== Page 5 FORM 10-Q Nine Months Ended September 30, 1997 1996 -------- -------- CONSOLIDATED RETAINED EARNINGS Balance at beginning of period $662,183 $622,061 Add - net income 93,161 79,842 Deduct - adjustment for 1996 two-for-one stock split, in the form of a 100% stock dividend, on shares issued during the period 0 6,269 -------- -------- 755,344 695,634 -------- -------- Deduct - dividends Preferred stock 2,646 2,646 Preference stock 342 342 Common stock - $.57 per share in 1997; $.525 per share in 1996 44,976 37,614 -------- -------- 47,964 40,602 -------- -------- Balance at end of period $707,380 $655,032 ======== ======== The accompanying notes are an integral part of these financial statements.
Page 6 FORM 10-Q AMERICAN WATER WORKS COMPANY, INC. AND SUBSIDIARY COMPANIES ----------------------------------------------------------- Consolidated Balance Sheet (Unaudited) (In thousands) September 30, December 31, 1997 1996 ------------ ----------- ASSETS Property, plant and equipment Utility plant - at original cost less accumulated depreciation $ 3,607,277 $ 3,453,950 Utility plant acquisition adjustments 51,200 52,156 Non-utility property, net of accumulated depreciation 33,389 31,302 Excess of cost of investments in subsidiaries over book equity at acquisition 22,728 22,690 ------------ ----------- 3,714,594 3,560,098 ------------ ----------- Current assets Cash and cash equivalents 10,661 12,974 Customer accounts receivable 75,056 67,293 Allowance for uncollectible accounts (1,339) (1,115) Unbilled revenues 57,724 53,868 Miscellaneous receivables 4,978 4,787 Materials and supplies 12,862 11,063 Deferred vacation pay 11,657 10,400 Other 11,196 7,994 ------------ ----------- 182,795 167,264 ------------ ----------- Regulatory and other long-term assets Regulatory asset - income taxes recoverable through rates 180,447 177,064 Debt and preferred stock expense 28,865 28,736 Deferred pension expense 21,214 18,340 Deferred postretirement benefit expense 11,531 11,852 Deferred treatment plant costs 8,101 8,388 Deferred water utility billings 4,597 6,808 Tank painting costs 10,493 10,224 Funds restricted for construction 12,505 5,791 Other 41,045 37,591 ------------ ----------- 318,798 304,794 ------------ ----------- $ 4,216,187 $ 4,032,156 ============ =========== Page 7 FORM 10-Q September 30, December 31, 1997 1996 ------------ ----------- CAPITALIZATION AND LIABILITIES Capitalization Common stock $ 99,325 $ 98,027 Paid-in capital 319,714 298,448 Retained earnings 707,380 662,183 Unearned compensation (910) (784) ------------ ----------- Common stockholders' equity 1,125,509 1,057,874 Preferred stocks with mandatory redemption requirements 40,000 40,000 Preferred stocks without mandatory redemption requirements 11,673 11,673 Preferred stocks of subsidiaries with mandatory redemption requirements 40,027 41,060 Preferred stocks of subsidiaries without mandatory redemption requirements 6,256 6,279 Long-term debt American Water Works Company, Inc. 116,000 116,000 Subsidiaries 1,684,892 1,600,394 ------------ ----------- 3,024,357 2,873,280 ------------ ----------- Current liabilities Bank debt 154,092 147,390 Current portion of long-term debt 37,132 57,144 Accounts payable 28,470 36,786 Taxes accrued, including federal income 26,987 10,803 Interest accrued 38,399 32,128 Accrued vacation pay 11,785 10,564 Other 31,326 40,155 ------------ ----------- 328,191 334,970 ------------ ----------- Page 8 FORM 10-Q September 30, December 31, 1997 1996 ------------ ----------- Regulatory and other long-term liabilities Advances for construction $ 126,426 $ 129,466 Deferred income taxes 405,845 382,592 Deferred investment tax credits 36,409 37,345 Accrued pension expense 34,528 35,702 Accrued postretirement benefit expense 10,114 10,034 Other 10,743 4,081 ------------ ----------- 624,065 599,220 ------------ ----------- Contributions in aid of construction 239,574 224,686 ------------ ----------- Commitments and contingencies 0 0 ------------ ----------- $ 4,216,187 $ 4,032,156 ============ =========== The accompanying notes are an integral part of these financial statements.
Page 9 FORM 10-Q AMERICAN WATER WORKS COMPANY, INC. AND SUBSIDIARY COMPANIES ----------------------------------------------------------- Consolidated Statement of Cash Flows (Unaudited) (In thousands) Nine Months Ended September 30, 1997 1996 -------- -------- CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 93,161 $ 79,842 Adjustments Depreciation and amortization 76,406 68,113 Provision for deferred income taxes 20,317 13,751 Provision for losses on accounts receivable 5,033 4,051 Allowance for other funds used during construction (4,844) (5,363) Employee benefit expenses greater (less) than funding 761 (1,064) Employee stock plan expenses 4,207 4,292 Deferred acquisition expense 0 (3,826) Deferred tank painting costs (1,393) (1,466) Deferred rate case expense (1,689) (1,676) Amortization of deferred charges 6,578 7,495 Other, net (89) (871) Changes in assets and liabilities, net of effects from acquisition Accounts receivable (12,763) (10,469) Unbilled revenues (3,856) (9,567) Other current assets (5,001) (2,740) Accounts payable (8,316) (17,644) Taxes accrued, including federal income 16,184 10,356 Interest accrued 6,271 8,356 Other current liabilities (8,829) (3,549) -------- -------- Net cash from operating activities 182,138 138,021 -------- -------- CASH FLOWS FROM INVESTING ACTIVITIES Construction expenditures (231,087) (173,438) Allowance for other funds used during construction 4,844 5,363 Water system acquisitions (125) (263,526) Proceeds from the disposition of property, plant and equipment 934 2,982 Removal costs from property, plant and equipment retirements (5,625) (3,264) Funds restricted for construction activity (6,714) 7,022 -------- -------- Net cash used in investing activities (237,773) (424,861) -------- -------- Page 10 FORM 10-Q Nine Months Ended September 30, 1997 1996 -------- -------- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from long-term debt $107,000 $231,700 Proceeds from common stock 18,231 179,822 Net borrowings under line-of-credit agreements 6,702 (50,641) Advances and contributions for construction, net of refunds 14,311 7,652 Debt and stock issuance costs (1,388) (3,521) Repayment of long-term debt (42,514) (23,153) Redemption of preferred stocks (1,056) (981) Dividends paid (47,964) (40,602) -------- -------- Net cash from financing activities 53,322 300,276 -------- -------- Net decrease in cash and cash equivalents (2,313) 13,436 Cash and cash equivalents at beginning of period 12,974 23,717 -------- -------- Cash and cash equivalents at end of period $ 10,661 $ 37,153 ======== ======== Cash paid during the period for: Interest, net of capitalized amount $104,285 $ 93,155 ======== ======== Income taxes $ 31,351 $ 30,533 ======== ======== Common stock issued in lieu of cash in connection with the Employees' Stock Ownership Plan, the Savings Plan for Employees and the Long-Term Performance-Based Incentive Plan totaled $4,207 in 1997 and $4,292 in 1996. Debt and liabilities of $141 million and $5.9 million, respectively, were assumed in connection with the Acquisition in 1996. The accompanying notes are an integral part of these financial statements.
Page 11 FORM 10-Q AMERICAN WATER WORKS COMPANY, INC. AND SUBSIDIARY COMPANIES ----------------------------------------------------------- Information Accompanying Financial Statements (Unaudited) (In thousands, except share and per share amounts) September 30, December 31, 1997 1996 ------------ ----------- Preferred stocks with mandatory redemption requirements Cumulative preferred stock - $25 par value Authorized - 1,770,000 shares 8.50% series (non-voting) - 1,600,000 shares outstanding $ 40,000 $ 40,000 ============ =========== Preferred stocks without mandatory redemption requirements Cumulative preferred stock - $25 par value 5% series (one-tenth of a vote per share) - 101,777 shares outstanding $ 2,544 $ 2,544 Cumulative preference stock - $25 par value Authorized - 750,000 shares 5% series (non-voting) - 365,158 shares outstanding 9,129 9,129 Cumulative preferential stock - $35 par value Authorized - 3,000,000 shares 0 0 ------------ ----------- $ 11,673 $ 11,673 ============ =========== The terms of the 8.50% preferred stock provide that all shares of the series shall be redeemed on December 1, 2000. Common stockholders' equity Common stock - $1.25 par value Authorized - 300,000,000 shares Outstanding - 79,460,016 shares at September 30, 1997; 78,421,302 at December 31, 1996 $ 99,325 $ 98,027 Paid-in capital 319,714 298,448 Retained earnings 707,380 662,183 Unearned compensation (910) (784) ------------ ----------- $ 1,125,509 $ 1,057,874 ============ =========== During the first nine months of 1997, 673,605 shares were issued in connection with the Dividend Reinvestment and Stock Purchase Plan, 134,182 shares were issued in connection with the Employees' Stock Ownership Plan, 170,084 shares were issued in connection with the Savings Plan for Employees and 60,843 shares were issued in connection with the Long-Term Performance-Based Incentive Plan. At September 30, 1997, common shares reserved for issuance in connection with the Company's stock plans were 60,923,162 shares for the Stockholder Rights Plan, 6,367,626 shares for the Dividend Reinvestment and Stock Purchase Plan, 803,058 shares for the Employees' Stock Ownership Plan, 144,877 shares for the Savings Plan for Employees and 397,585 shares for the Long-Term Performance-Based Incentive Plan. Page 12 FORM 10-Q AMERICAN WATER WORKS COMPANY, INC. AND SUBSIDIARY COMPANIES ----------------------------------------------------------- Notes to Consolidated Financial Statements (Unaudited) (Dollars in thousands, except per share amounts) NOTE 1 -- Financial Statement Presentation The information presented in this Form 10-Q is unaudited. In the opinion of management the information reported reflects all adjustments, consisting of normal recurring adjustments, which were necessary to a fair statement of the results for the periods reported. Certain reclassifications have been made to conform previously reported data to the current presentation. NOTE 2 -- Acquisition On February 16, 1996, the Company's subsidiary, Pennsylvania-American Water Company, acquired the water utility operations of Pennsylvania Gas and Water Company (now known as PG Energy Inc.) for $409,400. The acquired operations, which include 10 water treatment plants and 36 reservoirs, serve approximately 132,000 customers in northeastern Pennsylvania. The acquisition was accounted for as a purchase, and the accompanying financial statements reflect the results of operations of the acquired business subsequent to the purchase date. The purchase price consisted of $262,500 in cash and the assumption of $146,900 of PG Energy Inc.'s liabilities, including $141,000 of its long-term debt. The cash payment was funded with short-term debt that was subsequently repaid with the proceeds from the Company's 1996 common stock offering and a portion of the proceeds from Pennsylvania-American's 1996 offering of $150,000 of 30-year, 7.8% General Mortgage Bonds. The unaudited pro forma results listed below were prepared as if the acquisition and related offerings had occurred on January 1, 1996, and include the historical results of the Company and of the acquired operations. The unaudited pro forma information is not necessarily indicative of the results of operations that might have occurred had the acquisition actually taken place on the date indicated, or of future results of operations of the combined entities. Nine months ended September 30, 1996 - ------------------------------------- Revenues $681,970 Net income 80,344 Earnings per common share $ 1.00 NOTE 3 -- New Accounting Standard In February 1997, Statement of Financial Accounting Standards No. 128, "Earnings per Share" and Statement of Financial Accounting Standards No. 129, "Disclosure of Information about Capital Structure," were issued by the Financial Accounting Standards Board requiring implementation for periods ending after December 15, 1997. Adoption of these statements effective December 31, 1997, is not expected to have a significant effect on the financial statements of the Company. Page 13 FORM 10-Q AMERICAN WATER WORKS COMPANY, INC. AND SUBSIDIARY COMPANIES ----------------------------------------------------------- Notes to Consolidated Financial Statements (Unaudited) (Dollars in thousands, except per share amounts) Note 4 -- Regulatory Decision At a public meeting held October 2, 1997, the Pennsylvania Public Utility Commission approved a settlement agreement among all parties in the rate proceeding initiated by the Company's Pennsylvania subsidiary earlier this year. As a result, the subsidiary, effective October 4, 1997, instituted new rates for service that are designed to produce additional annual revenues of $27 million. An aspect of this rate proceeding was the recognition of the subsidiary's February 1996 acquisition of water service assets in northeastern Pennsylvania. Page 14 FORM 10-Q PART I - FINANCIAL INFORMATION Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations - -------------------------------------------------------------------------- Results of Operations - --------------------- The first nine months of 1997 results included nine months of the northeastern Pennsylvania acquisition as compared to seven and one-half months for the same period in 1996. Operating revenues for the third quarter and the first nine months of 1997 were higher than for the same periods of 1996 by 7% and 6%, respectively. The increases are due to higher water consumption due to favorable summer weather conditions, authorized rate increases for several subsidiaries and the acquisition of the regulated water operations in northeastern Pennsylvania. Revenues included in the third quarter of 1997 from the northeastern Pennsylvania acquisition were approximately equal to those included in the third quarter of 1996. In the first nine months of 1997, the northeastern Pennsylvania acquisition increased operating revenues by $7.3 million in comparison to the same period in 1996. During the first ten months of 1997, eight regulated subsidiaries received rate orders which are expected to provide approximately $34.3 million in additional annual revenues. A rate increase for the company's Pennsylvania subsidiary accounts for $27.0 million of the increase in additional annual revenues. The decision addressed the Company's northeastern Pennsylvania acquisition and other added investment in water service facilities since its last rate decision. Seven subsidiaries have rate increase applications on file before regulatory agencies which, if granted in full, would provide approximately $29.5 million in additional annual revenues. Water sales volume during the third quarter of 1997 increased 7% to 76.3 billion gallons from 71.3 billion gallons in the third quarter of 1996. The 192.6 billion gallons of sales volume for the first nine months of 1997 was 3% greater than the 187.2 billion gallons sold in the same period of 1996. The acquisition added approximately 1.8 billion gallons of water sold for the first nine months of 1997 when compared to the first nine months of 1996. Total operating expenses for the third quarter of 1997 were 3% higher than those in the third quarter of 1996. The total operating expenses in the first nine months of 1997 increased by 2% over the same period last year. Continuing efforts to achieve cost efficiencies resulted in an increase in operation and maintenance expenses of 1% for the third quarter and a decrease of 1% for the first nine months of 1997, in comparison to the same periods in 1996. Depreciation expense was higher for the third quarter and first nine months of 1997 when compared to the third quarter and first nine months of 1996 due to growth in utility plant in service. General taxes increased in the third quarter and first nine months of 1997 when compared to the same periods of 1996 reflecting higher property values and increased gross receipts. Page 15 FORM 10-Q PART I - FINANCIAL INFORMATION Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (contd.) - -------------------------------------------------------------------------- Results of Operations (contd.) - ------------------------------ Income deductions, primarily interest, were 5% higher for the third quarter and 9% higher for the first nine months when compared to the same periods in 1996. The increases can be attributed primarily to an increase in total debt to fund the construction of new water service assets and the northeastern Pennsylvania acquisition. The total allowance for funds used during construction recorded in the third quarter of 1997 was greater than the third quarter of 1996 as a result of construction of new water service assets. The total allowance for funds used during construction in the first nine months of 1997 decreased when compared to the same period in 1996. This decrease was due to the completion of the Delaware River Regional Water Treatment Plant in New Jersey which began operation in 1996. Income taxes increased in the third quarter and the first nine months of 1997 when compared to the same periods in 1996. The increases can be attributed to increased earnings in 1997. Net income to common stock was $42.5 million for the third quarter of 1997 compared with $35.3 million for the same period in 1996. Net income to common stock for the first nine months of 1997 was $90.2 million compared with $76.9 million for the first nine months of 1996. Page 16 FORM 10-Q PART I - FINANCIAL INFORMATION Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (contd.) - -------------------------------------------------------------------------- Capital Resources and Liquidity - -------------------------------- All shares of common stock issued during 1997 have been the result of stock issued in conjunction with the Dividend Reinvestment and Stock Purchase Plan, the Employees Stock Ownership Plan, the Savings Plan for Employees, and the Long-Term Performance-Based Incentive Plan. During the balance of 1997, the Company plans to continue issuing common stock through its Dividend Reinvestment and Stock Purchase Plan and the Savings Plan for Employees. Proceeds from the issuance of common stock will fund additional equity investments in subsidiaries. Six regulated subsidiaries issued $107.0 million of long-term debt during the first ten months of 1997. In addition, the Company invested $36.7 million in the common stock of seven subsidiaries. The proceeds from these financing arrangements have been used to fund construction programs and repay bank borrowings. It is anticipated that some subsidiaries will sell long-term debt to institutional investors and common stock to the Company during the remainder of 1997, with the proceeds used to repay bank loans and to fund construction projects. Page 17 FORM 10-Q PART II - OTHER INFORMATION Item 5. Other Information ----------------------------------------- George W. Johnstone, a director and the president and chief executive officer of the Company, retired from those offices on November 6, 1997. J. James Barr, vice president and treasurer of the Company, was thereupon elected to the Board of Directors and appointed interim president and chief executive officer of the Company. Item 6. Exhibits and Reports on Form 8-K ----------------------------------------- A. Exhibits -------- Exhibit number (27), Financial Data Schedule, is filed herewith electronically. B. Reports on Form 8-K ------------------- No report on Form 8-K was filed by the registrant during the quarter ended September 30, 1997. Page 18 FORM 10-Q SIGNATURES - ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. AMERICAN WATER WORKS COMPANY, INC. Date November 13, 1997 /s/ J. James Barr - ---------------------- -------------------------------------- J. James Barr, President and CEO (Authorized Officer) Date November 13, 1997 /s/ Robert D. Sievers - ---------------------- -------------------------------------- Robert D. Sievers, Comptroller (Chief Accounting Officer) EX-27 2
OPUR1 0000318819 R. D. SIEVERS 1,000 9-MOS DEC-31-1997 SEP-30-1997 PER-BOOK 3,607,277 107,317 182,795 277,753 41,045 4,216,187 99,325 318,804 707,380 1,125,509 80,027 17,929 1,800,892 154,092 0 0 37,132 0 0 0 1,000,606 4,216,187 717,284 57,916 460,899 518,815 198,469 3,393 201,862 108,701 93,161 2,988 90,173 44,976 103,113 182,138 1.14 0
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