-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, qdwNqHqA+Khy1RRkHx6DcUQVL5N8SD3TpgUSFskPJ0EPCRZJXHQ7nSBZwliZ9E3U p1vBlZUzT162sfkQkVwiyg== 0000004904-95-000053.txt : 19950501 0000004904-95-000053.hdr.sgml : 19950501 ACCESSION NUMBER: 0000004904-95-000053 CONFORMED SUBMISSION TYPE: U5S PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950428 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN ELECTRIC POWER COMPANY INC CENTRAL INDEX KEY: 0000004904 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 134922640 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U5S SEC ACT: 1935 Act SEC FILE NUMBER: 001-03525 FILM NUMBER: 95532757 BUSINESS ADDRESS: STREET 1: 1 RIVERSIDE PLZ CITY: COLUMBUS STATE: OH ZIP: 43215 BUSINESS PHONE: 6142231000 FORMER COMPANY: FORMER CONFORMED NAME: KINGSPORT UTILITIES INC DATE OF NAME CHANGE: 19660906 U5S 1 ANNUAL REPORT ON FORM U5S AMERICAN ELECTRIC POWER COMPANY, INC. FORM U5S - ANNUAL REPORT For the Year Ended December 31, 1994 TABLE OF CONTENTS Page ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1994. . . . . . . . . . . . . . . . . . . . . . 1-2 ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS. . . . . . . . . . . 3 ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES . . . . . . . . . . . . . . . . . . . . . . . . . 3 ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES . 4-5 ITEM 5. INVESTMENTS IN SECURITIES OF NON-SYSTEM COMPANIES. . . . . . 6 ITEM 6. OFFICERS AND DIRECTORS Part I. Names, principal business address and positions held as of December 31, 1994 . . . . . . . . . . 7-15 Part II. Banking connections. . . . . . . . . . . . . . . 16 Part III. Compensation and other related information . . . 17-25 ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS . . . . . . . . . . . . . 26 ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS Part I. Contracts for services or goods between system companies. . . . . . . . . . . . . . . . . . . . 27 Part II. Contracts to purchase services or goods between any system company and any affiliate . . . . . . 27 Part III. Employment of any person by any system company for the performance on a continuing basis of management services. . . . . . . . . . . . . . . 27 ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES . . . . . 28 ITEM 10 FINANCIAL STATEMENTS AND EXHIBITS (Index). . . . . . . . . . 29 SIGNATURE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1994.
Issuer Owner's Number of Common Percent of Book Book Name of Company Shares Owned Voting Power Value (D) Value (D) (1) (2) (3) (4) (5) (in thousands) American Electric Power Company, Inc. (AEP) None None None None AEP Energy Services, Inc. (AEPENS) 110 Shares 100 $ 637 $ 637 AEP Generating Company (AEGCo) 1,000 Shares 100 53,003 53,003 AEP Investments, Inc. (AEPINV) 100 Shares 100 4,400 4,400 AEP Resources, Inc. (AEPRES) 100 Shares 100 451 451 AEP Resources International, Ltd. (AEPRI) 1 Share 100 1 1 American Electric Power Service Corporation (AEPSC) 13,500 Shares 100 2,450 2,450 Appalachian Power Company* (APCo) 13,499,500 Shares 96.1 971,227 992,267 Cedar Coal Co. (CeCCo) 2,000 Shares 100 3,447 3,447 Central Appalachian Coal Company** (CACCo) 3,000 Shares 100 91 91 Central Coal Company** (CCCo) 1,500 Shares 50 (A) 604 604 Central Operating Company (COpCo) 1,500 Shares 50 (A) 89 89 Kanawha Valley Power Company (KVPCo) 500 Shares 100 6,242 6,242 Southern Appalachian Coal Company** (SACCo) 6,950 Shares 100 17,088 17,088 West Virginia Power Company** (WVPCo) 100 Shares 100 224 214 Total Appalachian Power Company 27,785 27,775 Columbus Southern Power Company (CSPCo)* 16,410,426 Shares 100 653,644 653,644 Colomet, Inc.** (COLM) 1,500 Shares 100 2,988 2,988 Conesville Coal Preparation Company (CCPC) 100 Shares 100 1,110 1,110 Simco Inc.** (SIMCo) 90,000 Shares 100 610 610 Ohio Valley Electric Corporation (OVEC) 4,300 Shares 4.3 470 430 Total Columbus Southern Power Company 5,178 5,138 Franklin Real Estate Company (FRECo) 100 Shares 100 30 28 Indiana Franklin Realty, Inc. (IFRI) 10 Shares 100 1 1 Indiana Michigan Power Company* (I&M) 1,400,000 Shares 100 1,007,753 1,014,939 Blackhawk Coal Company** (BHCCo) 39,521 Shares 100 90,812 90,812 Price River Coal Company** (PRCCo) 1,091 Shares 100 27 27 Total Indiana Michigan Power Company 90,839 90,839 Integrated Communications Systems, Inc.*** (ICS) 80,000 Shares 20.5 (106) - Kentucky Power Company (KEPCo) 1,009,000 Shares 100 208,373 211,159 Kingsport Power Company (KGPCo) 410,000 Shares 100 16,782 17,439
ITEM 1. (CONTINUED)
Issuer Owner's Number of Common Percent of Book Book Name of Company Shares Owned Voting Power Value (D) Value (D) (1) (2) (3) (4) (5) (in thousands) Ohio Power Company* (OPCo) 27,952,473 Shares 94.2 $1,267,523 $1,271,936 Cardinal Operating Company (CdOCo) 250 Shares 50 (B) 155 155 Central Coal Company** (CCCo) 1,500 Shares 50 (A) 604 604 Central Ohio Coal Company (COCCo) 69,000 Shares 100 21,817 21,817 Central Operating Company (COpCo) 1,500 Shares 50 (A) 89 89 Southern Ohio Coal Company (SOCCo) 5,000 Shares 100 145,719 145,719 Windsor Coal Company (WCCo) 4,064 Shares 100 12,484 12,656 Total Ohio Power Company 180,868 181,040 Ohio Valley Electric Corporation* (OVEC) 39,900 Shares 39.9 4,365 4,082 Indiana-Kentucky Electric Corporation (IKEC) 17,000 Shares 100 (C) 3,400 3,400 Wheeling Power Company (WPCo) 150,000 Shares 100 21,040 22,022 Equity in Subsidiaries - Unallocated 16,410 16,410 Total American Electric Power Company, Inc. 4,227,982 4,264,867 Total All Companies $4,536,054 $4,573,061 (A) Owned 50% by Appalachian Power Company and 50% by Ohio Power Company. (B) Ohio Power Company owns 50% of the stock; the other 50% is owned by a corporation not affiliated with American Electric Power Company, Inc. (C) This Company is a wholly owned subsidiary of Ohio Valley Electric Corporation, 44.2% of whose voting securities are owned by the American Electric Power System, the balance by unaffiliated companies. (D) Includes unsecured debt as follows: for AEPSC - $1,100,000, BHCCo - $40,200,000, CdOCo - $155,000, COCCo - $1,500,000, and WCCo - $225,000. *Exempt under Section 3(A) pursuant to Rule 2 thereof. **Inactive. ***Exempt under Securities and Exchange Commission Release No. 35-24295.
All of the active subsidiaries of AEP are involved in the electric utility business with the exceptions of AEPENS, AEPINV, AEPRES, AEPRI and ICS. AEPENS offers consulting services in AEP and its subsidiaries' areas of expertise. AEPINV and ICS are involved in the development of demand side management technologies. AEPRES and AEPRI are pursuing opportunities in non-regulated electric activities. AEPRI was incorporated in the Cayman Islands on June 24, 1994. ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS None, except as reported in certificates filed pursuant to Rule 24. ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES None, except as reported in certificates filed pursuant to Rule 24. ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES
Name of Company Extinguished (EXT) Name of Issuer and Acquiring, Redeeming or or Held (H) for Authorization Title of Issue Retiring Securities Consideration Further Disposition or Exemption (1) (2) (3) (4) (5) (in thousands) American Electric Power Service Corp: Mortgage Notes 9% Series D Due 1999 AEPSC $ 2,500 EXT Rule 42(b) 9.60% Series E Due 2008 " 2,500 EXT " Appalachian Power Company: Cumulative Preferred Stock, No Par Value 4.50% Series APCo 152 EXT Rule 42(b) First Mortgage Bonds 8-3/4% Series Due 2017 APCo 57,175 EXT Rule 42(b) 9-1/8% Series Due 2019 " 500 EXT " 9-7/8% Series Due 2020 " 500 EXT " Columbus Southern Power Company: First Mortgage Bonds 8-5/8% Series Due 1996 CSPCo 100,000 EXT Rule 42(b) 9% Series Due 1999 " 20,043 EXT " 9% Series Due 2017 " 105,791 EXT " Indiana Michigan Power Company: Cumulative Preferred Stock, $100 Par Value 7.76% Series I&M 35,798 EXT Rule 42(b) First Mortgage Bonds 8-3/4% Series Due 2017 I&M 101,833 EXT Rule 42(b)
ITEM 4. (CONTINUED)
Name of Company Extinguished (EXT) Name of Issuer and Acquiring, Redeeming or or Held (H) for Authorization Title of Issue Retiring Securities Consideration Further Disposition or Exemption (1) (2) (3) (4) (5) (in thousands) Ohio Power Company: First Mortgage Bonds 9-7/8% Series Due 2020 OPCo 3,839 EXT Rule 42(b) Sinking Fund Debentures 5-1/8% Series Due 1996 OPCo 391 EXT Rule 42(b) Southern Ohio Coal Company: Notes Payable 8% Due 1994 SOCCo 20,000 EXT Rule 42(b) 8.01% Due 1994 " 25,000 EXT " Windsor Coal Company: Notes Payable 8% Due 1994 WCCo 5,000 EXT Rule 42(b)
ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES AS OF DECEMBER 31, 1994.
1. Aggregate amount of investments in persons operating in the retail service area and not exceeding $100,000 in each person: Aggregate Amount of Investments Number of Name of in Persons (Entities), Operating in Persons Description of Company Retail Service Area of Owner (Entities) Persons (Entities) (1) (2) (3) (4) (in thousands) APCo $137 7 Industrial Development Corporations I&M 9 2 Industrial Companies OPCo 5 3 Industrial Companies WPCo 13 2 Industrial Development Corporation 2. Securities owned not included in 1 above. Name of Nature of Description Number Percent of Owner's Company Name of Issuer Issuer's Business of Securities of Shares Voting Power Book Value (1) (2) (3) (4) (5) (6) (7) (in thousands) AEPINV Intersource Research & Technologies, Inc. Technology Development Common Stock 800,000 9.9 $11,500 Preferred Stock 95,000 APCo VEDCORP, L.C. Economic Development Limited Partner 500* 4.1 504 I&M CID Partnership, L.P. Economic Development Limited Partner 27* 2.5 57 I&M Sofamor Danek Group, Inc. Medical Products Common Stock 5,902 - ** 111 OPCo Simetco, Inc. Primary Metals Common Stock 101,525 3.0 457 * Limited Partnership Interests ** Less than 0.1%.
ITEM 6. OFFICERS AND DIRECTORS OF AMERICAN ELECTRIC POWER SYSTEM Part I. (1&2) As of December 31, 1994: Officers and directors of American Electric Power Company, Inc. are listed on page 8. Officers and directors of Ohio Valley Electric Corporation and Indiana-Kentucky Electric Corporation are listed on page 15. The officers and directors of all other AEP System companies are located in the table on pages 9 through 14. LEGEND OF ABBREVIATIONS CB Chairman of the Board D Director CEO Chief Executive Officer P President COO Chief Operating Officer EVP Executive Vice President SVP Senior Vice President VP Vice President T Treasurer S Secretary C Controller Address Codes: (a) 1 Riverside Plaza, Columbus, OH (b) 40 Franklin Road, Roanoke, VA (c) 215 N. Front Street, Columbus, OH (d) One Summit Square, Fort Wayne, IN (e) 1701 Central Avenue, Ashland, KY (f) 301 Cleveland Avenue, S.W., Canton, OH (g) One Memorial Drive, Lancaster, OH AMERICAN ELECTRIC POWER COMPANY, INC.
Name Address Position Peter J. DeMaria (a) D,T E. Linn Draper, Jr. (a) D,CB,P,CEO Robert M. Duncan 190 N. Oval Mall, Columbus, OH D Dr. Arthur G. Hansen 815 Sugarbush Ridge, Zionsville, IN D Lester A. Hudson, Jr. P.O. Box 167, Greenville, SC D G.P. Maloney (a) D,VP,S Angus E. Peyton P.O. Box 226, Charleston, WV D Toy F. Reid 2141 Heatherly Road, Kingsport, TN D Donald G. Smith P.O. Box 13948, Roanoke, VA D Linda Gillespie Stuntz 1050 Thomas Jefferson Street, NW, Washington, DC D Dr. Morris Tanenbaum 74 Falmouth Street, Short Hills, NJ D Ann Haymond Zwinger 1825 Culebra Place, Colorado Springs, CO D
| | | | | | | | | | | | | AEPSC | APCo | CSPCo | I&M | KEPCo | KGPCo | OPCo | WPCo | AEPENS| AEGCo | AEPINV| 1 Anthony J. Ahern | | | | | | | | | | | | 6677 Busch Blvd. | | | | | | | | | | | | Columbus, OH | | | | | | | | | | | | 2 L.V. Assante (a) |T | | | | | | | | | | | 3 Mark A. Bailey (d) |D | | |D,VP | | | | | | | | 4 Bruce M. Barber (a) |VP | | | | | | | | | | | 5 Bruce A. Beam | | | | | | | | | | | | 801 Pennsylvania Ave. NW |D,VP | | | | | | | | | | | Washington, D.C. | | | | | | | | | | | | 6 Bruce H. Bennett (a) |D,VP | | | | | | | | | | | 7 R.A. Bird |D | | | | | | | | | | | 608 High Street | | | | | | | | | | | | Hazard, KY | | | | | | | | | | | | 8 P.E. Bischof |D | | | | | | | | | | | P.O. Box K | | | | | | | | | | | | Moundsville, WV | | | | | | | | | | | | 9 A.A. Blind | | | |VP | | | | | | | | One Cook Place | | | | | | | | | | | | Bridgman, MI | | | | | | | | | | | | 10 C.R. Boyle, III (e) |D | | | |D,P,COO | | | | | | | 11 Richard K. Byrne | | | | | | | | | | | | 6677 Busch Blvd. | | | | | | | | | | | | Columbus, OH | | | | | | | | | | | | 12 R.D. Carson, Jr. (b) | |VP | | | | | | | | | | 13 Donald M. Clements, Jr.(a) |D,SVP | | | | | | | | | | | 14 D.H. Crabtree (a) |VP | | | | | | | | | | | 15 Peter J. DeMaria (a) |D,EVP |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T | 16 John F. DiLorenzo, Jr. (a) |D,VP,S |S |S |S |S |S |S |S |S |S |S | 17 W.N. D'Onofrio (d) |D | | |D,VP | | | | | | | | 18 Dr. E. Linn Draper, Jr. (a)|D,CB,P, |D,CB,CEO|D,CB,CEO|D,CB,CEO|D,CB,CEO|D,CB,CEO|D,CB,CEO|D,CB, |D,CB, |D,P, |D,CB, | |CEO | | | | | | |CEO |CEO |CEO |CEO | 19 S.E. Early (e) |D | | | | | | | | | | | 20 Charles A. Ebetino, Jr. (g)|D,SVP | | | | | | | | | | | 21 Dr. Carl A. Erikson (c) |D | |D,P,COO | | | |D,P,COO | | | | | 22 Dr. Charles A. Falcone (a) |D,SVP | | | | | | | | | | | 23 Henry W. Fayne (a) |D,SVP,C | |D | | | |D | |D |D | | 24 Luke M. Feck (a) |D,SVP |D | | | | | | | | | | 25 Eugene E. Fitzpatrick (a) |D,SVP | | |VP | | | | | | | | 26 L.E. Gearhart |D | | | | | | | | | | | P.O. Box 949 | | | | | | | | | | | | Beckley, WV | | | | | | | | | | | | 27 Allen R. Glassburn | | | | | | | | | | | | 422 Broad Street |D | | | | |D,P,COO | | | | | | Kingsport, TN | | | | | | | | | | | | 28 D.E. Heydlauff (a) |VP | | | | | | | | | | | 29 Lawrence R. Hoover (f) | | |VP | | | |VP | | | | |
| | | | | | | | | | | | AEPRES | AEPRI | BHCCo | CdOCo | CeCCo | CACCo | CCCo | COCCo | COpCo | COLM | CCPC | 1 Anthony J. Ahern | | | |D | | | | | | | | 6677 Busch Blvd. | | | | | | | | | | | | Columbus, OH | | | | | | | | | | | | 2 L.V. Assante (a) | | | | | | | | | | | | 3 Mark A. Bailey (d) | | | | | | | | | | | | 4 Bruce M. Barber (a) | | | | | | | | | | | | 5 Bruce A. Beam | | | | | | | | | | | | 801 Pennsylvania Ave, NW | | | | | | | | | | | | Washington, D.C. | | | | | | | | | | | | 6 Bruce H. Bennett (a) | | | | | | | | | | | | 7 R.A. Bird | | | | | | | | | | | | 608 High Street | | | | | | | | | | | | Hazard, KY | | | | | | | | | | | | 8 P.E. Bischof | | | | | | | | | | | | P.O. Box K | | | | | | | | | | | | Moundsville, WV | | | | | | | | | | | | 9 A.A. Blind | | | | | | | | | | | | One Cook Place | | | | | | | | | | | | Bridgman, MI | | | | | | | | | | | | 10 C.R. Boyle, III (e) | | | | | | | | | | | | 11 Richard K. Byrne | | | | | | | | | | | | 6677 Busch Blvd. | | | |D,VP | | | | | | | | Columbus, OH | | | | | | | | | | | | 12 R.D. Carson, Jr. (b) | | | | | | | | | | | | 13 Donald M. Clements, Jr. (a)| | | | | | | | | | | | 14 D.H. Crabtree (a) | | | | | | | | | | | | 15 Peter J. DeMaria (a) |D,VP,T |D,VP,T |D,VP,T |T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |VP,T |D,VP,T |D,VP,T | 16 John F. DiLorenzo, Jr. (a) |S |S |S | |S |S |S |S |S |S |S | 17 W.N. D'Onofrio (d) | | | | | | | | | | | | 18 Dr. E. Linn Draper, Jr. (a)|D,CB,CEO|D,CB,CEO|D,CB,CEO|D,P |D,CB,CEO|D,CB,CEO|D,CB,CEO|D,CB,CEO|D,P,CEO |D,P,CEO |D,CB,CEO| 19 S.E. Early (e) | | | | | | | | | | | | 20 Charles A. Ebetino, Jr. (g)| | |D,P,COO | |D,P,COO |D,P,COO |D,P,COO |D,P,COO | | |D,P,COO | 21 Dr. Carl A. Erikson (c) | | | |D,VP | | |D,VP |D,VP |D,VP |D,VP |D,VP | 22 Dr. Charles A. Falcone (a) | | | | | | | | | | | | 23 Henry W. Fayne (a) |D |D | | | | | | | | | | 24 Luke M. Feck (a) | | | | | | | |D | | | | 25 Eugene E. Fitzpatrick (a) | | | | | | | | | | | | 26 L.E. Gearhart | | | | | | | | | | | | P.O. Box 949 | | | | | | | | | | | | Beckley, WV | | | | | | | | | | | | 27 Allen R. Glassburn | | | | | | | | | | | | 422 Broad Street | | | | | | | | | | | | Kingsport, TN | | | | | | | | | | | | 28 D.E. Heydlauff (a) | | | | | | | | | | | | 29 Lawrence R. Hoover (f) | | | | | | | | | | | |
| | | | | | | | | | | FRECo | IFRI | KVPCo | PRCCo | SIMCo | SACCo | SOCCo | WVPCo | WCCo | 1 Anthony J. Ahern | | | | | | | | | | 6677 Busch Blvd. | | | | | | | | | | Columbus, OH | | | | | | | | | | 2 L.V. Assante (a) | | | | | | | | | | 3 Mark A. Bailey (d) |VP |VP | | | | | | | | 4 Bruce M. Barber (a) | | | | | | | | | | 5 Bruce A. Beam | | | | | | | | | | 801 Pennsylvania Ave, NW | | | | | | | | | | Washington, D.C. | | | | | | | | | | 6 Bruce H. Bennett (a) | | | | | | | | | | 7 R.A. Bird | | | | | | | | | | 608 High Street | | | | | | | | | | Hazard, KY | | | | | | | | | | 8 P.E. Bischof | | | | | | | | | | P.O. Box K | | | | | | | | | | Moundsville, WV | | | | | | | | | | 9 A.A. Blind | | | | | | | | | | One Cook Place | | | | | | | | | | Bridgman, MI | | | | | | | | | | 10 C.R. Boyle, III (e) |VP | | | | | | | | | 11 Richard K. Byrne | | | | | | | | | | 6677 Busch Blvd. | | | | | | | | | | Columbus, OH | | | | | | | | | | 12 R.D. Carson, Jr. (b) | | | | | | | | | | 13 Donald M. Clements, Jr. (a)| | | | | | | | | | 14 D.H. Crabtree (a) | | | | | | | | | | 15 Peter J. DeMaria (a) |D,VP,T |VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T |D,VP,T | 16 John F. DiLorenzo, Jr. (a) |S |S |D,S |S |S |S |S |S |S | 17 W.N. D'Onofrio (d) |VP |VP | | | | | | | | 18 Dr. E. Linn Draper, Jr. (a)|D,P,CEO |D,P,CEO |D,P,CEO |D,CB,CEO|D,CB,CEO|D,CB,CEO|D,CB,CEO|D,P,CEO |D,CB,CEO| 19 S.E. Early (e) | | | | | | | | | | 20 Charles A. Ebetino, Jr. (g)| | | |D,P,COO |D,P,COO |D,P,COO |D,P,COO | |D,P,COO | 21 Dr. Carl A. Erikson (c) |VP | | | |D,VP | |D,VP | |D,VP | 22 Dr. Charles A. Falcone (a) | | | | | | | | | | 23 Henry W. Fayne (a) | | | | | | | | | | 24 Luke M. Feck (a) | | | | | | | | | | 25 Eugene E. Fitzpatrick (a) | | | | | | | | | | 26 L. E. Gearhart | | | | | | | | | | P.O. Box 949 | | | | | | | | | | Beckley, WV | | | | | | | | | | 27 Allen R. Glassburn | | | | | | | | | | 422 Broad Street |VP | | | | | | | | | Kingsport, TN | | | | | | | | | | 28 D.E. Heydlauff (a) | | | | | | | | | | 29 Lawrence R. Hoover (f) |VP | | | | | | | | |
| | | | | | | | | | | | AEPSC | APCo | CSPCo | I&M | KEPCo | KGPCo | OPCo | WPCo | AEPENS | AEGCo |AEPINV| 30 John R. Jones III (a) |D,SVP | | | | | | | |D |D | | 31 M.O. Julien (a) |VP | | | | | | | | | | | 32 W. Robert Kelley (a) |D,VP | | | | | | | | | | | 33 F.D. Kidwell |D | | | | | | | | | | | 95 E. Main Street | | | | | | | | | | | | Chillicothe, OH | | | | | | | | | | | | 34 V.A. Lepore (a) |D,VP | | | | | | | | | | | 35 William J. Lhota (a) |D,EVP |D,VP |D,VP |D,VP |D,VP |D,VP |D,VP |D,VP |D |D |D,VP | 36 Hugh H. Lucas (g) |VP | | | | | | | | | | | 37 R.M. Maliszewski (a) |D,SVP | | | | |D | | | | | | 38 G.P. Maloney (a) |D,EVP |D,VP |D,VP |D,VP |D,VP |D,VP |D,VP |D,VP |D,P |D,VP |D,P | 39 Dr. James J. Markowsky (a) |D,EVP |D |D |VP | |D |D |D |D |D |D | 40 Thomas R. McCaffrey (a) |D,VP | | | | | | | | | | | 41 J.K. McWilliams (g) |D,VP | | | | | | | | | | | 42 Richard C. Menge (d) |D | | |D,P,COO | | | | | | | | 43 P.M. O'Brien (g) |D,VP | | | | | | | | | | | 44 Armando A. Pena (a) |D,VP | | | | | | | | | | | 45 Ronald A. Petti (a) |D,SVP | | | |D | | | | | | | 46 Harry D. Post (c) | | |VP | | | |VP | | | | | 47 A.H. Potter (d) | | | |D | | | | | | | | 48 C.A. Powell |D | | | | | | | | | | | P.O. Box 419 | | | | | | | | | | | | New Haven, WV | | | | | | | | | | | | 49 R.E. Prater (e) | | | | |VP | | | | | | | 50 Bruce A. Renz (a) |VP | | | | | | | | | | | 51 H.E. Rhodes, Jr. (b) | |VP | | | | | | | | | | 52 Samuel P. Riggle, Jr. | | | | | | | | | | | | P.O. Box 112 | | | | | | | | | | | | Millersburg, OH | | | | | | | | | | | | 53 Robert L. Roberts | | | | | | | | | | | | P.O. Box 604 | | | | | | | | | | | | Piqua, OH | | | | | | | | | | | | 54 Thomas A. Rotenberry (b) | |VP | | | | | | | | | | 55 T.J. Seeley (c) |D | | | | | | | | | | | 56 Charles A. Simmons (b) |D |VP | | | | | | | | | | 57 Lance G. Sogan (g) |VP | | | | | | | | | | | 58 Peter Splawnyk (c) |D | |VP | | | |VP | | | | | 59 R. Dane Swinehart | | | | | | | | | | | | P.O. Box 250 | | | | | | | | | | | | Lancaster, OH | | | | | | | | | | | | 60 James F. Tompkins | | | | | | | | | | | | P.O. Box 490 | | | | | | | | | | | | Athens, OH | | | | | | | | | | | | 61 D.M. Trenary (d) |D | | |D | | | | | | | | 62 Joseph A. Valentine (a) |VP | | | | | | | | | | | 63 Andrew P. Varley (a) |D,VP | | | | | | | | | | | 64 Joseph H. Vipperman (b) |D |D,P,COO | | | | | | | | | | 65 Dana E. Waldo |D | | | | | | |D,P,COO | | | | P.O. Box 751 | | | | | | | | | | | | Wheeling, WV | | | | | | | | | | | | 66 W.E. Walters | | | |D | | | | | | | | 100 East Wayne Street | | | | | | | | | | | | South Bend, IN | | | | | | | | | | | |
| | | | | | | | | | | | AEPRES | AEPRI | BHCCo | CdOCo | CeCCo | CACCo | CCCo | COCCo | COpCo | COLM | CCPC | 30 John R. Jones III (a) |D |D,VP | | | | | | | | | | 31 M.O. Julien (a) | | | | | | | | | | | | 32 W. Robert Kelley (a) | | | | | | | | | | | | 33 F.D. Kidwell | | | | | | | | | | | | 95 E. Main Street | | | | | | | | | | | | Chillicothe, OH | | | | | | | | | | | | 34 V.A. Lepore (a) | | | | | | | | | | | | 35 William J. Lhota (a) |D |D |D |D,VP |D |D |D |D |D |D,VP |D | 36 Hugh H. Lucas (g) | | | | | | | | | | | | 37 R.M. Maliszewski (a) | | | |D | | | | | | | | 38 G.P. Maloney (a) |D,P |D,P |D,VP | |D,VP |D,VP |D,VP |D,VP |VP |VP |D,VP | 39 Dr. James J. Markowsky (a) |D |D | |D | |D | | |D |D,VP | | 40 Thomas R. McCaffrey (a) | | | | | | | | | | | | 41 J.K. McWilliams (g) | | | | | | | | | | | | 42 Richard C. Menge (d) | | |D,VP | | | | | | | | | 43 P. M. O'Brien (g) | | | | | | | | | | | | 44 Armando A. Pena (a) | |VP | | | | | | | | | | 45 Ronald A. Petti (a) | | | | | | | | | | | | 46 Harry D. Post (c) | | | | | | | | | | | | 47 A.H. Potter (d) | | | | | | | | | | | | 48 C.A. Powell | | | | | | | | | | | | P.O. Box 419 | | | | | | | | | | | | New Haven, WV | | | | | | | | | | | | 49 R.E. Prater (e) | | | | | | | | | | | | 50 Bruce A. Renz (a) | | | | | | | | | | | | 51 H.E. Rhodes, Jr. (b) | | | | | | | | | | | | 52 Samuel P. Riggle, Jr. | | | | | | | | | | | | P.O. Box 112 | | | |D,VP | | | | | | | | Millersburg, OH | | | | | | | | | | | | 53 Robert L. Roberts | | | | | | | | | | | | P.O. Box 604 | | | |D | | | | | | | | Piqua, OH | | | | | | | | | | | | 54 Thomas A. Rotenberry (b) | | | | | | | | | | | | 55 T.J. Seeley (c) | | | | | | | | | | | | 56 Charles A. Simmons (b) | | | | | | | | | | | | 57 Lance G. Sogan (g) | | | | | | | | | | | | 58 Peter Splawnyk (c) | | | | | | | | | | | | 59 R. Dane Swinehart | | | | | | | | | | | | P.O. Box 250 | | | |D,VP | | | | | | | | Lancaster, OH | | | | | | | | | | | | 60 James F. Tompkins | | | | | | | | | | | | P.O. Box 490 | | | | | | | | | | | | Athens, OH | | | | | | | | | | | | 61 D.M. Trenary (d) | | | | | | | | | | | | 62 Joseph A. Valentine (a) | | | | | | | | | | | | 63 Andrew P. Varley (a) | | | | | | | | | | | | 64 Joseph H. Vipperman (b) | | | | |D,VP |D,VP |D,VP | |D,VP | | | 65 Dana E. Waldo | | | | | | | | | | | | P.O. Box 751 | | | | | | | | | | | | Wheeling, WV | | | | | | | | | | | | 66 W.E. Walters | | | | | | | | | | | | 100 East Wayne St. | | | | | | | | | | | | South Bend, IN | | | | | | | | | | | |
| | | | | | | | | | | FRECo | IFRI | KVPCo | PRCCo | SIMCo | SACCo | SOCCo | WVPCo | WCCo | 30 John R. Jones III (a) | | | | | | | | | | 31 M.O. Julien (a) | | | | | | | | | | 32 W. Robert Kelley (a) | | | | | | | | | | 33 F.D. Kidwell | | | | | | | | | | 95 E. Main Street | | | | | | | | | | Chillicothe, OH | | | | | | | | | | 34 V.A. Lepore (a) | | | | | | | | | | 35 William J. Lhota (a) |D,VP |D,VP |D,VP |D |D |D |D |D |D | 36 Hugh H. Lucas (g) | | | | | | | | | | 37 R.M. Maliszewski (a) | | | | | | | | | | 38 G.P. Maloney (a) |D,VP |D,VP |D,VP |D,VP |D,VP |D,VP |D,VP |VP |D,VP | 39 Dr. James J. Markowsky (a) |VP |VP | | |D | |D | |D | 40 Thomas R. McCaffrey (a) | | | | | | | | | | 41 J.K. McWilliams (g) | | | | | | | | | | 42 Richard C. Menge (d) |VP |D,VP | |D,VP | | | | | | 43 P.M. O'Brien (g) | | | | | | | | | | 44 Armando A. Pena (a) | | | | | | | | | | 45 Ronald A. Petti (a) | | | | | | | | | | 46 Harry D. Post (c) |VP | | | | | | | | | 47 A.H. Potter (d) | | | | | | | | | | 48 C.A. Powell | | | | | | | | | | P.O. Box 419 | | | | | | | | | | New Haven, WV | | | | | | | | | | 49 R.E. Prater (e) |VP | | | | | | | | | 50 Bruce A. Renz (a) | | | | | | | | | | 51 H.E. Rhodes, Jr. (b) | | | | | | | | | | 52 Samuel P. Riggle, Jr. | | | | | | | | | | P.O. Box 112 | | | | | | | | | | Millersburg, OH | | | | | | | | | | 53 Robert L. Roberts | | | | | | | | | | P.O. Box 604 | | | | | | | | | | Piqua, OH | | | | | | | | | | 54 Thomas A. Rotenberry (b) |VP | | | | | | | | | 55 T.J. Seeley (c) | | | | | | | | | | 56 Charles A. Simmons (b) |VP | | | | | | | | | 57 Lance G. Sogan (g) | | | | | | | | | | 58 Peter Splawnyk (c) | | | | | | | | | | 59 R. Dane Swinehart | | | | | | | | | | P.O. Box 250 | | | | | | | | | | Lancaster, OH | | | | | | | | | | 60 James F. Tompkins | | | | | | |VP | | | P.O. Box 490 | | | | | | | | | | Athens, OH | | | | | | | | | | 61 D.M. Trenary (d) | | | | | | | | | | 62 Joseph A. Valentine (a) | | | | | | | | | | 63 Andrew P. Varley (a) | | | | | | | | | | 64 Joseph H. Vipperman (b) |VP | |D,VP | | |D,VP | |D,VP | | 65 Dana E. Waldo | | | | | | | | | | P.O. Box 751 |VP | | | | | | | | | Wheeling, WV | | | | | | | | | | 66 W.E. Walters | | | | | | | | | | 100 East Wayne St. | | | | | | | | | | South Bend, IN | | | | | | | | | |
OHIO VALLEY ELECTRIC CORPORATION INDIANA-KENTUCKY ELECTRIC CORPORATION
IKEC OVEC Name Address Position Position Klaus Bergman 12 East 49th Street, New York, NY - D John D. Brodt P.O. Box 468, Piketon, OH S,T S,T W.N. D'Onofrio (d) D - E. Linn Draper, Jr. (a) D,P D,P Murray R. Edelman 6200 Oak Tree Blvd., Independence, OH - D Carl A. Erikson (c) - D Stanley I. Garnett, II 12 East 49th Street, New York, NY - D David L. Hart (a) VP VP Chris Hermann 220 West Main Street, Louisville, KY - D Allen M. Hill P.O. Box 1247, Dayton, OH - D W.R. Holland 76 South Main Street, Akron, OH D D J. Gordon Hurst One N. Main Street, Evansville, IN D - David E. Jones P.O. Box 468, Piketon, OH VP VP G.P. Maloney (a) VP VP Dr. James J. Markowsky (a) - D Richard C. Menge (d) D - John T. Newton One Quality Street, Lexington, KY - D J.H. Randolph 139 East Fourth Street, Cincinnati, OH - D Ronald G. Reherman 20 NW Fourth Street, Evansville, IN D D Peter J. Skrgic 12 East 49th Street, New York, NY D D Joseph H. Vipperman (b) - D
ITEM 6. (CONTINUED) Part II. Each officer and director with a financial connection within the provisions of Section 17(c) of the Act are as follows:
Position Name and Location Held in Applicable Name of Officer of Financial Financial Exemption or Director Institution Institution Rule (1) (2) (3) (4) C.R. Boyle, III First American Bank, Pikeville National Ashland, Kentucky Director 70(c),(f) Robert M. Duncan First Federal Savings and Loan Association Newark, Ohio Director 70(a) L.A. Hudson, Jr. American National Bankshares, Inc. Danville, Virginia Director 70(a) American National Bank & Trust Co. Danville, Virginia Director 70(a) W.J. Lhota Huntington Bancshares, Inc. Columbus, Ohio Director 70(c),(f) R.C. Menge Fort Wayne National Bank Fort Wayne, Indiana Director 70(c),(f) Fort Wayne National Corporation Fort Wayne, Indiana Director 70(c),(f) A.E. Peyton One Valley Bank, N.A. Charleston, West Virginia Director 70(a) One Valley Bancorp of West Virginia, Inc. Charleston, West Virginia Director 70(a) Samuel P. CSB Bank Corporation Riggle, Jr. Millersburg, Ohio Director 70(c),(f) Commercial & Saving Bank Millersburg, Ohio Director 70(c),(f) R.L. Roberts Third Savings and Loan Co. Piqua, Ohio Director 70(c) Donald G. Smith First Union National Bank of Virginia Roanoke, Virginia Director 70(a) R.D. Swinehart Standing Stone National Bank Lancaster, Ohio Director 70(c),(f)
ITEM 6. (continued) Part III. The disclosures made in the System companies' most recent proxy statement and annual report on Form 10-K with respect to items (a) through (f) follow: (a) COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS Executive Compensation The following table shows for 1994, 1993 and 1992 the compensation earned by the chief executive officer and the four other most highly compensated executive officers (as defined by regulations of the Securities and Exchange Commission) of the AEP System at December 31, 1994. Summary Compensation Table
Long-Term Annual Compensation Compensation All Other Salary Bonus Payouts Compensation Name Year ($) ($)(1) LTIP Payouts($)(2) ($)(3) E. Linn Draper, Jr. 1994 620,000 209,436 137,362 29,385 1993 538,333 148,742 18,180 1992 395,833 8,730 63,700 Peter J. DeMaria 1994 305,000 103,029 59,032 18,750 1993 280,000 77,364 17,811 1992 273,000 6,021 15,576 G. P. Maloney 1994 300,000 101,340 58,094 19,745 1993 269,000 74,325 18,000 1992 261,000 5,757 17,036 William J. Lhota 1994 280,000 94,584 54,409 19,185 1993 249,000 68,799 17,160 1992 230,000 5,073 15,116 James J. Markowsky 1994 267,000 90,193 51,930 14,755 1993 247,000 65,259 11,165 1992 219,000 4,497 7,020 Notes to Summary Compensation Table (1) Reflects payments under the Management Incentive Compensation Plan (MICP). Amounts for 1994 are estimates but should not change significantly. For 1994 and 1993, these amounts include both cash paid and a portion deferred in the form of restricted stock units. These units are paid out in cash after three years based on the price of AEP Common Stock at that time. Dividend equivalents are paid during the three-year period. At December 31, 1994, the deferred amounts (included in the above table) and accrued dividends for Dr. Draper, Messrs. DeMaria, Maloney and Lhota and Dr. Markowsky were equivalent to 2,204, 1,109, 1,080, 1,004 and 956 units having values of $72,456, $36,458, $35,505, $33,006 and $31,428, respectively, based upon a $32-7/8 per share closing price of AEP's Common Stock as reported on the New York Stock Exchange. For 1992, MICP payments were made entirely in cash. (2) Reflects payments under the Performance Share Incentive Plan (which became effective January 1, 1994) for the one-year transition performance period ending December 31, 1994. Dr. Draper, Messrs. DeMaria, Maloney and Lhota and Dr. Markowsky received 2,050, 881, 867, 812 and 775 shares of AEP Common Stock, respectively, representing one-half of their payments. See the discussion below for additional information. (3) For 1994, includes (i) employer matching contributions under the AEP System Employees Savings Plan: $4,500 for each of the named executive officers; (ii) employer matching contributions under the AEP System Supplemental Savings Plan (which became effective January 1, 1994), a non-qualified plan designed to supplement the AEP Savings Plan: Dr. Draper, $14,100; Mr. DeMaria, $4,650; Mr. Maloney, $4,500; Mr. Lhota, $3,900; and Dr. Markowsky, $3,510; and (iii) subsidiary companies director fees: Dr. Draper, $10,785; Mr. DeMaria, $9,600; Mr. Maloney, $10,745; Mr. Lhota, $10,785; and Dr. Markowsky, $6,745.
Compensation of Directors Directors who are officers of AEP or employees of any of its subsidiaries do not receive any compensation, other than their regular salaries and the accident insurance coverage described below, for attending meetings of the Board of Directors of AEP. The other members of the Board receive an annual retainer of $23,000 for their services, an additional annual retainer of $3,000 for each Committee that they chair, a fee of $1,000 for each meeting of the Board and of any Committee that they attend (except a meeting of the Executive Committee held on the same day as a Board meeting), and a fee of $1,000 per day for any inspection trip or conference (except a trip or conference on the same day as a Board or Committee meeting). AEP maintains a group 24-hour accident insurance policy to provide a $1,000,000 accidental death benefit for each director (three-year premium was $16,065). The current policy will expire on September 1, 1997, and AEP expects to renew the coverage. In addition, AEP pays each director (excluding officers of AEP or employees of any of its subsidiaries) an amount to provide for the federal and state income taxes incurred in connection with the maintenance of this coverage (approximately $1,000 annually). The Board has adopted a policy which permits directors to elect annually to defer receipt of all or a portion of their retainer and fees to be payable in a lump sum or monthly installments after they cease to be a director. The deferred compensation accrues interest compounded quarterly at the daily prime lending rate in effect from time to time at a specified major financial institution. This policy is implemented by individual deferred-compensation agreements which set forth the terms of the deferral. The Board has adopted a retirement plan for directors (excluding officers of AEP or employees of any of its subsidiaries) which provides for annual retirement payments for life to such directors commencing at the later of the director's retirement or age 72 in an amount equal to the annual retainer at the time of retirement with a 20% reduction for each year that service as a director is less than five. Directors of APCo, I&M and OPCo receive a fee of $100 for each meeting of the Board of Directors attended in addition to their salaries. (b) OWNERSHIP OF SECURITIES The following table sets forth the beneficial ownership of AEP Common Stock as of December 31, 1994, for all directors as of the date of the proxy statement, all nominees to the Board of Directors, each of the persons named in the Summary Compensation Table and all directors and executive officers as a group. Unless otherwise noted, each person had sole voting and investment power over the number of shares of AEP Common Stock set forth across from his or her name. Fractions of shares have been rounded to the nearest whole share.
SHARES OF AEP COMMON NAME DIRECTOR OF STOCK BENEFICIALLY OWNED (a) M. A. Bailey I&M 1,050 P. J. DeMaria AEP, APCo, I&M, OPCo 6,105(b)(c)(d)(e) W. N. D'Onofrio I&M 3,811(d) E. L. Draper, Jr. AEP, APCo, I&M, OPCo 1,492(d) R. M. Duncan AEP 1,340 C. A. Erikson OPCo 2,151 H. W. Fayne APCo, OPCo 2,921 L. M. Feck APCo 810(d) A. G. Hansen AEP 923 L. A. Hudson, Jr. AEP 1,853(e) W. J. Lhota APCo, I&M, OPCo 7,414(c)(d) G. P. Maloney AEP, APCo, I&M, OPCo 4,249(c)(d) J. J. Markowsky APCo, I&M, OPCo 4,861(e) R. C. Menge I&M 3,011(d) A. E. Peyton AEP 3,188(f) A. H. Potter I&M 2,795(d) T. F. Reid AEP 1,000(d) D. G. Smith AEP 800 L. G. Stuntz AEP 400 M. Tanenbaum AEP 1,083 D. M. Trenary I&M 206 J. H. Vipperman APCo 4,110(d) W. E. Walters I&M 4,242 A. H. Zwinger AEP 12,300(e) All directors and executive officers of AEP as a group (15 persons) 135,393(c)(g) All directors and executive officers of APCo as a group (9 persons) 120,348(c)(g) All directors and executive officers of I&M as a group (12 persons) 127,621(c)(g) All directors and executive officers of OPCo as a group (8 persons) 117,578(c)(g)
Notes on Stock Ownership (a) The holdings of AEP Common Stock include shares held by the trustee of the AEP System Employees Savings Plan (Savings Plan) and the AEP Employee Stock Ownership Plan (Employee Plan), over which shares such persons have sole voting power, but the investment/disposition power is subject to the terms of such plans. The shares held in such plans were as follows:
NAME SAVINGS PLAN EMPLOYEE PLAN Mr. Bailey 1,005 44 Mr. DeMaria 2,398 83 Mr. D'Onofrio 3,251 59 Dr. Draper 1,368 - Mr. Erikson 2,105 46 Mr. Fayne 2,830 63 Mr. Feck 714 - Mr. Lhota 5,986 60 Mr. Maloney 2,464 85 Dr. Markowsky 4,779 66 Mr. Menge 2,925 62 Mr. Potter 2,741 41 Mr. Trenary 165 41 Mr. Vipperman 3,977 80 Mr. Walters 4,197 45 All directors and executive officers of AEP as a group 19,323 341 All directors and executive officers of APCo as a group 26,844 484 All directors and executive officers of I&M as a group 33,608 633 All directors and executive officers of OPCo as a group 24,258 450 (b) Mr. DeMaria owns 100 shares of Cumulative Preferred Shares 9.50% Series, $100 par value, of Columbus Southern Power Company. (c) Does not include, for Messrs. DeMaria, Lhota and Maloney, 85,231 shares in the American Electric Power System Educational Trust Fund over which Messrs. DeMaria, Lhota and Maloney share voting and investment power as trustees (they disclaim beneficial ownership of such shares). The amount of shares shown for all directors and executive officers as a group includes these shares. (d) Includes shares with respect to which such directors, nominees and executive officers share voting and investment power as follows: Mr. DeMaria, 1,232 shares; Mr. D'Onofrio, 500 shares; Dr. Draper, 124 shares; Mr. Feck, 97 shares; Mr. Lhota, 1,368 shares; Mr. Maloney, 1,700 shares; Mr. Menge, 24 shares; and Mr. Potter, 13 shares; Mr. Reid, 1,000 shares; and Mr. Vipperman, 53 shares. (e) Includes shares held by family members over which beneficial ownership is disclaimed as follows: Mr. DeMaria, 2,392 shares; Mr. Hudson, 750 shares; Dr. Markowsky, 16 shares; and Mrs. Zwinger, 3,000 shares. (f) Includes 315 shares over which Mr. Peyton shares voting and investment power which are held by trusts of which he is a trustee, but he disclaims beneficial ownership of 169 of such shares. (g) Represents less than 1 percent of the total number of shares outstanding on December 31, 1994.
(c) CONTRACTS AND TRANSACTIONS WITH SYSTEM COMPANIES Employment Agreement Dr. Draper has a contract with AEP and the Service Corporation which provides for his employment for an initial term from no later than March 15, 1992 until March 15, 1997. Dr. Draper commenced his employment with AEP and the Service Corporation on March 1, 1992. AEP or the Service Corporation may terminate the contract at any time and, if this is done for reasons other than cause and other than as a result of Dr. Draper's death or permanent disability, the Service Corporation must pay Dr. Draper's then base salary through March 15, 1997, less any amounts received by Dr. Draper from other employment. Ms. Stuntz, a director of AEP, was a partner in the Washington, D.C. law firm of Van Ness Feldman, P.C. in 1994. Several organizations of which certain AEP System companies have been members and to which they have provided financial support, were clients of Van Ness Feldman, P.C. in 1994. (d) INDEBTEDNESS TO SYSTEM COMPANIES None (e) PARTICIPATION IN BONUS AND PROFIT SHARING ARRANGEMENTS AND OTHER BENEFITS Long-Term Incentive Plans - Awards In 1994 Each of the awards set forth below constitutes a grant of performance share units, which represent units equivalent to shares of AEP Common Stock, pursuant to AEP's Performance Share Incentive Plan. Since it is not possible to predict future dividends and the price of AEP Common Stock, credits of performance share units in amounts equal to the dividends that would have been paid if the performance share units were granted in the form of shares of AEP Common Stock are not included in the table. The ability to earn performance share units is tied to achieving specified levels of total shareholder return (TSR) relative to the S&P Electric Utility Index. Notwithstanding AEP's TSR ranking, no performance share units are earned unless AEP shareowners realize a positive TSR over the relevant three-year performance period. The Human Resources Committee may, at its discretion, reduce the number of performance share units otherwise earned. In accordance with the performance goals established for the periods set forth below, the threshold, target and maximum awards are equal to 25%, 100% and 200%, respectively, of the performance share units held. No payment will be made for performance below the threshold. Payment of awards earned for the one-year transition performance period ending December 31, 1994 were made 50% in cash and 50% in AEP Common Stock. For subsequent performance periods, payments of earned awards are deferred in the form of restricted stock units (equivalent to shares of AEP Common Stock) until the officer has met the equivalent stock ownership target. Once officers meet and maintain their respective targets, they may elect either to continue to defer or to receive further earned awards in cash and/or AEP Common Stock.
Estimated Future Payouts of Performance Performance Share Units Under Number of Period Until Non-Stock Price-Based Plan Performance Maturation Threshold Target Maximum Name Share Units or Payout (#) (#) (#) E. L. Draper, Jr. 2,235 1994 (1) (1) (1) 4,470 1994-1995 1,118 4,470 8,940 6,705 1994-1996 1,676 6,705 13,410 P. J. DeMaria 960 1994 (1) (1) (1) 1,920 1994-1995 480 1,920 3,840 2,885 1994-1996 721 2,885 5,770 G. P. Maloney 945 1994 (1) (1) (1) 1,890 1994-1995 473 1,890 3,780 2,840 1994-1996 710 2,840 5,680 W. J. Lhota 885 1994 (1) (1) (1) 1,770 1994-1995 443 1,770 3,540 2,650 1994-1996 663 2,650 5,300 J. J. Markowsky 845 1994 (1) (1) (1) 1,690 1994-1995 423 1,690 3,380 2,525 1994-1996 631 2,525 5,050 Note to Long-Term Incentive Plan Table (1) For the 1994 transition performance period, the actual number of performance share units earned was: Dr. Draper 4,100; Mr. DeMaria 1,761; Mr. Maloney 1,734; Mr. Lhota 1,624; and Dr. Markowsky 1,550 (see Summary Compensation Table for the cash value of these payouts).
Retirement Benefits The American Electric Power System Retirement Plan provides pensions for all employees of AEP System companies (except for employees covered by certain collective bargaining agreements), including the executive officers. The Retirement Plan is a noncontributory defined benefit plan. The following table shows the approximate annual annuities under the Retirement Plan that would be payable to employees in certain higher salary classifications, assuming retirement at age 65 after various periods of service. The amounts shown in the table are the straight life annuities payable under the Plan without reduction for the joint and survivor annuity. Retirement benefits listed in the table are not subject to any deduction for Social Security or other offset amounts. The retirement annuity is reduced 3% per year in the case of retirement between ages 60 and 62 and further reduced 6% per year in the case of retirement between ages 55 and 60. If an employee retires after age 62, there is no reduction in the retirement annuity.
Pension Plan Table Highest Average Years of Accredited Service Annual Earnings 15 20 25 30 35 40 $250,000 $ 58,065 $ 77,420 $ 96,775 $116,130 $135,485 $152,110 350,000 82,065 109,420 136,775 164,130 191,485 214,760 450,000 106,065 141,720 176,775 212,130 247,485 277,410 600,000 142,065 189,420 236,775 284,130 331,485 371,385 750,000 178,065 237,420 296,775 356,130 415,485 465,360
Compensation upon which retirement benefits are based consists of the average of the 36 consecutive months of the employee's highest salary, as listed in the Summary Compensation Table, out of the employee's most recent 10 years of service. As of December 31, 1994, the number of full years of service credited under the Retirement Plan to each of the executive officers of the Company named in the Summary Compensation Table were as follows: Dr. Draper, two years; Mr. DeMaria, 35 years; Mr. Maloney, 39 years; Mr. Lhota, 30 years; and Dr. Markowsky, 23 years. Dr. Draper's employment agreement described above provides him with a supplemental retirement annuity that credits him with 24 years of service in addition to his years of service credited under the Retirement Plan less his actual pension entitlement under the Retirement Plan and any pension entitlements from prior employers. AEP has determined to pay supplemental retirement benefits to 23 AEP System employees (including Messrs. DeMaria, Maloney and Lhota and Dr. Markowsky) whose pensions may be adversely affected by amendments to the Retirement Plan made as a result of the Tax Reform Act of 1986. Such payments, if any, will be equal to any reduction occurring because of such amendments. Assuming retirement in 1995 of the executive officers named in the Summary Compensation Table, none would be eligible to receive supplemental benefits. AEP made available a voluntary deferred-compensation program in 1982 and 1986, which permitted certain executive employees of AEP System companies to defer receipt of a portion of their salaries. Under this program, an executive was able to defer up to 10% or 15% annually (depending on the terms of the program offered), over a four-year period, of his or her salary, and receive supplemental retirement or survivor benefit payments over a 15-year period. The amount of supplemental retirement payments received is dependent upon the amount deferred, age at the time the deferral election was made, and number of years until the executive retires. The following table sets forth, for the executive officers named in the Summary Compensation Table, the amounts of annual deferrals and, assuming retirement at age 65, annual supplemental retirement payments under the 1982 and 1986 programs.
1982 Program 1986 Program Annual Amount of Annual Amount of Annual Supplemental Annual Supplemental Amount Retirement Amount Retirement Deferred Payment Deferred Payment Name (4-Year Period) (15-Year Period) (4-Year Period) (15-Year Period) P. J. DeMaria $10,000 $52,000 $13,000 $53,300 G. P. Maloney 15,000 67,500 16,000 56,400
(f) RIGHTS TO INDEMNITY The directors and officers of AEP and its subsidiaries are insured, subject to certain exclusions, against losses resulting from any claim or claims made against them while acting in their capacities as directors and officers. The American Electric Power System companies are also insured, subject to certain exclusions and deductibles, to the extent that they have indemnified their directors and officers for any such losses. Such insurance is provided by Associated Electric & Gas Insurance Services, Energy Insurance Mutual, The Chubb Insurance Company and Great American Insurance Company, effective January 1, 1995 through December 31, 1995, and pays up to an aggregate amount of $100,000,000 on any one claim and in any one policy year. The total premium for the four policies is $1,455,334. Fiduciary liability insurance provides coverage for System companies, their directors and officers, and any employee deemed to be a fiduciary or trustee, for breach of fiduciary responsibility, obligation, or duties as imposed under the Employee Retirement Income Security Act of 1974. This coverage, provided by Federal Insurance Company, was renewed, effective July 1, 1994 through June 30, 1995, for a premium of $67,042. It provides $20,000,000 of aggregate coverage with a $5,000 deductible for each loss. ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS Expenditures, disbursements or payments during the year, in money, goods or services directly or indirectly to or for the account of: (1) Any political party, candidate for public office or holder of such office, or any committee or agent thereof. - NONE (2) Any citizens group or public relations counsel. Calendar Year 1994 Accounts Charged, Name of Company and Name if any, or Number of Recipients Per Books of or Beneficiaries Purpose Disbursing Company Amounts (in thousands) AEGCo Acid Rain Policies & 426 Other Income Regulatory Issues A Deductions $38 1 Beneficiary A " " " 5 APCo Coalition for Energy and Economic Revitalization A " " " 24 CSPCo 1 Beneficiary A " " " 5 I&M Indiana Electric Association A " " " 33 Climate Council A " " " 12 4 Beneficiaries A " " " 1 OPCo 1 Beneficiary A " " " 5 A = Defray Expenses ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS
Part I. Contracts for services, including engineering or construction services, or goods supplied or sold between System companies are as follows: Calendar Year 1994 Company Company In Effect Nature of Performing Receiving Date of On Dec. 31st Transactions Service Service Compensation Contract (Yes or No) (1) (2) (3) (4) (5) (6) (in thousands) Machine Shop Services APCo System Operating Companies $ 9,619 12/08/78 Yes Plant Maintenance APCo System Operating Companies 5,579 1/01/76 Yes Racine Hydro Service APCo OPCo 248 12/08/78 Yes Simulator Training Services APCo System Operating Companies 647 12/12/87 Yes Coal BHCCo I&M - (a) 1/01/82 Yes Coal CeCCo APCo - (b) 12/01/76 Yes Coal CACCo APCo - (c) 9/14/48 Yes Coal CCCo APCo/OPCo - (d) 1/1/80 Yes Coal Washing CCPC CSPCo 9,093 11/05/84 Yes Coal COCCo OPCo 100,837 4/01/83 Yes Barging Transportation I&M System Operating Companies 24,001 5/01/86 Yes Coal SACCo APCo - (e) 3/01/78 Yes Coal SOCCo OPCo 196,477 2/01/74 Yes Coal SOCCo OPCo - (f) 10/01/72 Yes Coal WCCo OPCo 52,821 1/01/83 Yes Coal Transportation Simco CCPC 463 5/01/91 Yes (a) Excludes shutdown costs billed to I&M of $212,000. (b) Excludes shutdown costs billed to APCo of $6,610,000. (c) Excludes shutdown costs billed to APCo of $1,231,000. (d) Excludes shutdown cost billed to OPCo and APCo of $302,000. (e) Excludes shutdown costs billed to APCo of $420,000. (f) Excludes shutdown costs credited to OPCo of $1,956,000.
Part II. Contracts to purchase services or goods between any System company and (1) any affiliate company (other than a System company) or (2) any other company in which any officer or director of the System company, receiving service under the contract, is a partner or owns 5 percent or more of any class of equity securities. - NONE. Part III. Employment of any other person, by any System company, for the performance on a continuing basis, of management, supervisory or financial advisory services. - NONE. ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES Part I. (a) AEP Resources International, Ltd. was formed as a wholly- owned subsidiary by AEP Resources, Inc. on June 24, 1994. It is domiciled in the Cayman Islands and its business address is 1 Riverside Plaza, Columbus, Ohio 43215. At December 31, 1994, the Company owned no facilities. (b) AEP Resources International, Ltd. issued one share of $1.00 par value common stock to its parent, AEP Resources, Inc., for $5,000. There is no other stock or debt outstanding. The Company owned no fixed assets at December 31, 1994. (c) There was no debt outstanding at December 31, 1994. (d) There were no contracts between AEP Resources International, Ltd. and other system companies. Part II. See Exhibit's H and I Part III. American Electric Power Company, Inc.'s aggregate investment in foreign utility companies is $5000 which is less than 1% of its investment in domestic public utility subsidiary companies. ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS Section and FINANCIAL STATEMENTS Page No. Consent of Independent Public Accountants A-1 Consolidating Statements of Income B-1 to B-6 Consolidating Balance Sheets Assets B-7 to B-13 Capitalization and Liabilities B-14 to B-20 Consolidating Statements of Cash Flows B-21 to B-28 Consolidating Statements of Retained Earnings B-29 to B-34 Note to Consolidating Financial Statements C-1 Financial Statements of Subsidiaries Not Consolidated: CdOCo D-1 to D-2 IKEC D-3 to D-5 OVEC D-6 to D-9 ICS * EXHIBITS Exhibit A E Exhibit B & C ** Exhibit D ** Exhibit E ** Exhibit F None Exhibit G ** Exhibit H ** Exhibit I ** Exhibit 27 ** * Omitted pursuant to Securities and Exchange Commission Release No. 35-24295. ** These Exhibits are included only the in copy filed with Securities and Exchange Commission. INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in this American Electric Power Company, Inc. Annual Report (Form U5S) to the Securities and Exchange Commission, filed pursuant to the Public Utility Holding Company Act of 1935, for the year ended December 31, 1994, of our reports dated February 21, 1995 on the consolidated financial statements of American Electric Power Company, Inc. and subsidiaries and of certain of its subsidiaries (AEP Generating Company, Appalachian Power Company and subsidiaries, Columbus Southern Power Company and subsidiaries, Indiana Michigan Power Company and subsidiaries, Kentucky Power Company, and Ohio Power Company and subsidiaries), incorporated by reference in the combined Annual Report (Form 10-K) to the Securities and Exchange Commission of American Electric Power Company, Inc. and its subsidiaries and of certain of its subsidiaries for the year ended December 31, 1994. Deloitte & Touche LLP Columbus, Ohio April 28, 1995 A-1 AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands, except per share amount)
JOURNAL ELIMINATIONS AEP ENTRY AND COMBINED APCo CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP CONSOLIDATED ------------ ------- ------------ -------- ---------- ------------ Operating Revenues. . . . . . . . . . . . . . . . . $5,504,670 1,2,4,8,9 ($1,019,444) $6,524,114 $1,535,500 Equity of American Electric Power Company, Inc. in Earnings of Subsidiaries . . . . . . . . . . . 3,9 (506,356) 506,356 $506,356 Total . . . . . . . . . . . . . . . . . . . . 5,504,670 (1,525,800) 7,030,470 506,356 1,535,500 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . 1,745,245 1 (751,498) 2,496,743 706,682 Other Operation . . . . . . . . . . . . . . . . . 997,235 1,2,4,8 (241,007) 1,238,242 4,200 196,097 Maintenance . . . . . . . . . . . . . . . . . . . 544,312 4,8 (9,242) 553,554 134,092 Depreciation and Amortization . . . . . . . . . . 572,189 8 (4,018) 576,207 128,192 Taxes Other Than Federal Income Taxes . . . . . . 496,260 4,8,9 (12,279) 508,539 177 119,458 Federal Income Taxes. . . . . . . . . . . . . . . 217,209 4,7 672 216,537 45,761 Total Operating Expenses. . . . . . . . . . . 4,572,450 (1,017,372) 5,589,822 4,377 1,330,282 Operating Income (Loss) . . . . . . . . . . . . . . 932,220 (508,428) 1,440,648 501,979 205,218 Nonoperating Income (Loss): Deferred Zimmer Plant Carrying Charges (net of tax). . . . . . . . . . . . . . 5,604 5,604 Other Nonoperating Income (Loss). . . . . . . . . 5,881 3-6,8,9 1,050 4,831 367 (4,716) Total Nonoperating Income (Loss). . . . . . . 11,485 1,050 10,435 367 (4,716) Income (Loss) Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . 943,705 (507,378) 1,451,083 502,346 200,502 Interest Charges (net). . . . . . . . . . . . . . . 388,998 9 1 388,997 2,334 98,157 Preferred Stock Dividend Requirements of Subsidiaries . . . . . . . . . . . . . . . . . 54,695 54,695 15,660 Net Income (Loss) . . . . . . . . . . . . . . . . . $500,012 ($507,379) $1,007,391 $500,012 $86,685 Average Number of Shares Outstanding. . . . . . . . 184,666 Earnings Per Share . . . . . . . . . . . . . . . . $2.71 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands, except per share amount)
CSPCo I&M OPCo CONSOLIDATED CONSOLIDATED KEPCo KGPCo CONSOLIDATED WPCo ------------ ------------ -------- -------- ------------ -------- Operating Revenues. . . . . . . . . . . . . . . . . $1,031,151 $1,251,309 $307,443 $81,804 $1,738,726 $79,917 Equity of American Electric Power Company, Inc. in Earnings of Subsidiaries . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . 1,031,151 1,251,309 307,443 81,804 1,738,726 79,917 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . 338,750 332,973 156,637 61,130 742,493 57,393 Other Operation . . . . . . . . . . . . . . . . . 175,102 293,024 39,237 6,765 207,292 8,203 Maintenance . . . . . . . . . . . . . . . . . . . 71,629 139,423 31,967 2,506 150,568 3,748 Depreciation and Amortization . . . . . . . . . . 110,324 151,888 23,047 2,124 132,498 2,501 Taxes Other Than Federal Income Taxes . . . . . . 102,672 71,191 7,825 3,786 181,435 4,851 Federal Income Taxes. . . . . . . . . . . . . . . 46,806 41,079 2,641 558 79,567 (509) Total Operating Expenses. . . . . . . . . . . 845,283 1,029,578 261,354 76,869 1,493,853 76,187 Operating Income (Loss) . . . . . . . . . . . . . . 185,868 221,731 46,089 4,935 244,873 3,730 Nonoperating Income (Loss): Deferred Zimmer Plant Carrying Charges (net of tax). . . . . . . . . . . . . . 5,604 Other Nonoperating Income (Loss). . . . . . . . . 1,426 7,428 (102) 158 7,722 (10) Total Nonoperating Income (Loss). . . . . . . 7,030 7,428 (102) 158 7,722 (10) Income (Loss) Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . 192,898 229,159 45,987 5,093 252,595 3,720 Interest Charges (net). . . . . . . . . . . . . . . 83,053 71,688 20,714 1,946 89,969 2,657 Preferred Stock Dividend Requirements of Subsidiaries . . . . . . . . . . . . . . . . . 12,084 11,650 15,301 Net Income (Loss) . . . . . . . . . . . . . . . . . $97,761 $145,821 $25,273 $3,147 $147,325 $1,063 Average Number of Shares Outstanding. . . . . . . . Earnings Per Share . . . . . . . . . . . . . . . . See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands, except per share amount)
AEPENS AEGCo AEPINV AEPRES AEPRI AEPSC CCCo COpCo FRECo IFRI -------- -------- ------ ------ ----- -------- ------- ------ ----- ---- Operating Revenues. . . . . . . . . . . . . . . . . $236,041 $244,098 $18,125 Equity of American Electric Power Company, Inc. in Earnings of Subsidiaries . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . $0 236,041 $0 $0 $0 244,098 $0 18,125 $0 $0 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . 100,685 Other Operation . . . . . . . . . . . . . . . . . 78,282 219,544 10,496 Maintenance . . . . . . . . . . . . . . . . . . . 10,379 3,119 6,123 Depreciation and Amortization . . . . . . . . . . 21,615 4,018 Taxes Other Than Federal Income Taxes . . . . . . 4,866 11,079 1,199 Federal Income Taxes. . . . . . . . . . . . . . . 3,833 (3,553) 354 Total Operating Expenses. . . . . . . . . . . 0 219,660 0 0 0 234,207 0 18,172 0 0 Operating Income (Loss) . . . . . . . . . . . . . . 0 16,381 0 0 0 9,891 0 (47) 0 0 Nonoperating Income (Loss): Deferred Zimmer Plant Carrying Charges (net of tax). . . . . . . . . . . . . . Other Nonoperating Income (Loss). . . . . . . . . (1,562) 3,413 (8,187) (54) (4) (1,096) 48 Total Nonoperating Income (Loss). . . . . . . (1,562) 3,413 (8,187) (54) (4) (1,096) 0 48 0 0 Income (Loss) Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . (1,562) 19,794 (8,187) (54) (4) 8,795 0 1 0 0 Interest Charges (net). . . . . . . . . . . . . . . 9,684 8,795 Preferred Stock Dividend Requirements of Subsidiaries . . . . . . . . . . . . . . . . . Net Income (Loss) . . . . . . . . . . . . . . . . . ($1,562) $10,110 ($8,187) ($54) ($4) $0 $0 $1 $0 $0 Average Number of Shares Outstanding. . . . . . . . Earnings Per Share . . . . . . . . . . . . . . . . See Note to Consolidating Financial Statements on Page C-1.
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS APCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL APCo ------------ ------- ------------ -------- ---------- Operating Revenues. . . . . . . . . . . . . . . . . $1,535,500 10,12 ($3,942) $1,539,442 $1,535,501 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . 706,682 10 (3,941) 710,623 710,623 Other Operation . . . . . . . . . . . . . . . . . 196,097 196,097 195,108 Maintenance . . . . . . . . . . . . . . . . . . . 134,092 134,092 133,566 Depreciation and Amortization . . . . . . . . . . 128,192 128,192 127,952 Taxes Other Than Federal Income Taxes . . . . . . 119,458 119,458 118,669 Federal Income Taxes. . . . . . . . . . . . . . . 45,761 45,761 45,292 Total Operating Expenses. . . . . . . . . . . 1,330,282 (3,941) 1,334,223 1,331,210 Operating Income . . . . . . . . . . . . . . . . . 205,218 (1) 205,219 204,291 Nonoperating Income (Loss): Equity in Earnings of Subsidiary Companies. . . . 0 11 (16) 16 16 Other Nonoperating Income (Loss). . . . . . . . . (4,716) 12 1 (4,717) (3,952) Total Nonoperating Income (Loss). . . . . . . (4,716) (15) (4,701) (3,936) Income (Loss) Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . 200,502 (16) 200,518 200,355 Interest Charges (net). . . . . . . . . . . . . . . 98,157 98,157 98,010 Preferred Stock Dividend Requirements . . . . . . . 15,660 15,660 15,660 Earnings (Loss) Applicable to Common Stock. . . . . $86,685 ($16) $86,701 $86,685 See Note to Consolidating Financial Statements on Page C-1.
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands)
CeCCo CACCo KVPCo SACCo WVPCo ------- ------- ------- ------- ------- Operating Revenues. . . . . . . . . . . . . . . . . $3,941 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . Other Operation . . . . . . . . . . . . . . . . . 989 Maintenance . . . . . . . . . . . . . . . . . . . 526 Depreciation and Amortization . . . . . . . . . . 240 Taxes Other Than Federal Income Taxes . . . . . . 789 Federal Income Taxes. . . . . . . . . . . . . . . 469 Total Operating Expenses. . . . . . . . . . . $0 $0 3,013 $0 $0 Operating Income . . . . . . . . . . . . . . . . . 0 0 928 0 0 Nonoperating Income (Loss): Equity in Earnings of Subsidiary Companies. . . . Other Nonoperating Income (Loss). . . . . . . . . (849) (85) 1 163 5 Total Nonoperating Income (Loss). . . . . . . (849) (85) 1 163 5 Income (Loss) Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . (849) (85) 929 163 5 Interest Charges (net). . . . . . . . . . . . . . . 147 Preferred Stock Dividend Requirements . . . . . . . Earnings (Loss) Applicable to Common Stock. . . . . ($849) ($85) $782 $163 $5 See Note to Consolidating Financial Statements on Page C-1.
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS CSPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL CSPCo ------------ ------- ------------ -------- ---------- Operating Revenues. . . . . . . . . . . . . . . . . $1,031,151 13 ($9,556) $1,040,707 $1,031,151 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . 338,750 13,15,16 (304) 339,054 339,054 Other Operation . . . . . . . . . . . . . . . . . 175,102 13 (7,700) 182,802 175,102 Maintenance . . . . . . . . . . . . . . . . . . . 71,629 13 (1,227) 72,856 71,629 Depreciation and Amortization . . . . . . . . . . 110,324 13 (122) 110,446 110,324 Taxes Other Than Federal Income Taxes . . . . . . 102,672 13 (215) 102,887 102,672 Federal Income Taxes. . . . . . . . . . . . . . . 46,806 16 1 46,805 46,714 Total Operating Expenses. . . . . . . . . . . 845,283 (9,567) 854,850 845,495 Operating Income. . . . . . . . . . . . . . . . . . 185,868 11 185,857 185,656 Nonoperating Income: Deferred Zimmer Plant Carrying Charges (net of tax). . . . . . . . . . . . . . 5,604 5,604 5,604 Equity in Earnings of Subsidiary Companies. . . . 0 14 (403) 403 403 Other Nonoperating Income . . . . . . . . . . . . 1,426 15 (11) 1,437 1,234 Total Nonoperating Income . . . . . . . . . . 7,030 (414) 7,444 7,241 Income Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . 192,898 (403) 193,301 192,897 Interest Charges (net). . . . . . . . . . . . . . . 83,053 83,053 83,052 Preferred Stock Dividend Requirements . . . . . . . 12,084 12,084 12,084 Earnings Applicable to Common Stock . . . . . . . . $97,761 ($403) $98,164 $97,761 See Note to Consolidating Financial Statements on Page C-1.
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands)
COLM CCPC SIMCo ------- ------- ------- Operating Revenues. . . . . . . . . . . . . . . . . $9,093 $463 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . Other Operation . . . . . . . . . . . . . . . . . 7,592 108 Maintenance . . . . . . . . . . . . . . . . . . . 1,227 Depreciation and Amortization . . . . . . . . . . 15 107 Taxes Other Than Federal Income Taxes . . . . . . 174 41 Federal Income Taxes. . . . . . . . . . . . . . . 25 66 Total Operating Expenses. . . . . . . . . . . $0 9,033 322 Operating Income. . . . . . . . . . . . . . . . . . 0 60 141 Nonoperating Income: Deferred Zimmer Plant Carrying Charges (net of tax). . . . . . . . . . . . . . . Equity in Earnings of Subsidiary Companies. . . . Other Nonoperating Income . . . . . . . . . . . . 186 11 6 Total Nonoperating Income . . . . . . . . . . 186 11 6 Income Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . 186 71 147 Interest Charges (net). . . . . . . . . . . . . . . 1 Preferred Stock Dividend Requirements . . . . . . . Earnings Applicable to Common Stock . . . . . . . . $186 $70 $147 See Note to Consolidating Financial Statements on Page C-1.
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS I&M ENTRY AND COMBINED CONSOLIDATED NUMBER ADJUSTMENTS TOTAL I&M ------------ ------- ------------ -------- ---------- Operating Revenues. . . . . . . . . . . . . . . . . $1,251,309 $1,251,309 $1,251,309 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . 332,973 332,973 332,973 Other Operation . . . . . . . . . . . . . . . . . 293,024 293,024 293,024 Maintenance . . . . . . . . . . . . . . . . . . . 139,423 139,423 139,423 Depreciation and Amortization . . . . . . . . . . 151,888 151,888 151,888 Taxes Other Than Federal Income Taxes . . . . . . 71,191 71,191 71,191 Federal Income Taxes. . . . . . . . . . . . . . . 41,079 41,079 41,079 Total Operating Expenses. . . . . . . . . . . 1,029,578 1,029,578 1,029,578 Operating Income . . . . . . . . . . . . . . . . . 221,731 221,731 221,731 Nonoperating Income (Loss): Equity in Earnings of Subsidiary Companies. . . . 0 17 $786 (786) (786) Other Nonoperating Income (Loss). . . . . . . . . 7,428 7,428 8,214 Total Nonoperating Income (Loss). . . . . . . . 7,428 786 6,642 7,428 Income (Loss) Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . 229,159 786 228,373 229,159 Interest Charges (net). . . . . . . . . . . . . . . 71,688 71,688 71,688 Preferred Stock Dividend Requirements . . . . . . . 11,650 11,650 11,650 Earnings (Loss) Applicable to Common Stock. . . . . $145,821 $786 $145,035 $145,821 See Note to Consolidating Financial Statements on Page C-1.
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands)
BHCCo PRCCo ------- ------- Operating Revenues. . . . . . . . . . . . . . . . . Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . Other Operation . . . . . . . . . . . . . . . . . Maintenance . . . . . . . . . . . . . . . . . . . Depreciation and Amortization . . . . . . . . . . Taxes Other Than Federal Income Taxes . . . . . . Federal Income Taxes. . . . . . . . . . . . . . . Total Operating Expenses. . . . . . . . . . . $0 $0 Operating Income . . . . . . . . . . . . . . . . . 0 0 Nonoperating Income (Loss): Equity in Earnings of Subsidiary Companies. . . . Other Nonoperating Income (Loss). . . . . . . . . (786) Total Nonoperating Income (Loss). . . . . . . . (786) 0 Income (Loss) Before Interest Charges and Preferred Dividends . . . . . . . . . . . . . . . (786) 0 Interest Charges (net). . . . . . . . . . . . . . . Preferred Stock Dividend Requirements . . . . . . . Earnings (Loss) Applicable to Common Stock. . . . . ($786) $0 See Note to Consolidating Financial Statements on Page C-1.
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS OPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL OPCo ------------ ------- ------------ -------- ---------- Operating Revenues. . . . . . . . . . . . . . . . . $1,738,726 18,19,23 ($359,526) $2,098,252 $1,748,117 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . 742,493 18,19,22,23 (38,416) 780,909 780,909 Other Operation . . . . . . . . . . . . . . . . . 207,292 18 (229,953) 437,245 207,292 Maintenance . . . . . . . . . . . . . . . . . . . 150,568 18 (55,164) 205,732 150,568 Depreciation and Amortization . . . . . . . . . . 132,498 18 (14,810) 147,308 132,498 Taxes Other Than Federal Income Taxes . . . . . . 181,435 18 (19,627) 201,062 181,435 Federal Income Taxes. . . . . . . . . . . . . . . 79,567 21,23 30 79,537 71,462 Total Operating Expenses. . . . . . . . . . . 1,493,853 (357,940) 1,851,793 1,524,164 Operating Income . . . . . . . . . . . . . . . . . 244,873 (1,586) 246,459 223,953 Nonoperating Income (Loss): Equity in Earnings of Subsidiary Companies. . . . 0 20 (14,387) 14,387 14,387 Other Nonoperating Income (Loss). . . . . . . . . 7,722 21,22,23 1,503 6,219 8,512 Total Nonoperating Income (Loss). . . . . . . 7,722 (12,884) 20,606 22,899 Income Before Interest Charges and. . . . . . . . . Preferred Dividends . . . . . . . . . . . . . . . 252,595 (14,470) 267,065 246,852 Interest Charges (net). . . . . . . . . . . . . . . 89,969 21,23 (83) 90,052 84,226 Preferred Stock Dividend Requirements . . . . . . . 15,301 15,301 15,301 Earnings Applicable to Common Stock . . . . . . . . $147,325 ($14,387) $161,712 $147,325 See Note to Consolidating Financial Statements on Page C-1.
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF INCOME Year Ended December 31, 1994 (in thousands)
COCCo SOCCo WCCo ------- ------- ------- Operating Revenues. . . . . . . . . . . . . . . . . $100,837 $196,477 $52,821 Operating Expenses: Fuel and Purchased Power. . . . . . . . . . . . . Other Operation . . . . . . . . . . . . . . . . . 83,326 111,591 35,036 Maintenance . . . . . . . . . . . . . . . . . . . 10,212 36,204 8,748 Depreciation and Amortization . . . . . . . . . . 1,802 11,595 1,413 Taxes Other Than Federal Income Taxes . . . . . . 3,473 10,761 5,393 Federal Income Taxes. . . . . . . . . . . . . . . 564 6,657 854 Total Operating Expenses. . . . . . . . . . . 99,377 176,808 51,444 Operating Income . . . . . . . . . . . . . . . . . 1,460 19,669 1,377 Nonoperating Income (Loss): Equity in Earnings of Subsidiary Companies. . . . Other Nonoperating Income (Loss). . . . . . . . . 1,253 (3,617) 71 Total Nonoperating Income (Loss). . . . . . . 1,253 (3,617) 71 Income Before Interest Charges and. . . . . . . . . Preferred Dividends . . . . . . . . . . . . . . . 2,713 16,052 1,448 Interest Charges (net). . . . . . . . . . . . . . . 57 5,684 85 Preferred Stock Dividend Requirements . . . . . . . Earnings Applicable to Common Stock . . . . . . . . $2,656 $10,368 $1,363 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994 (in thousands)
JOURNAL ELIMINATIONS AEP ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP ------------ -------- ------------ -------- --- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . . . . $9,172,766 5 $1 $9,172,765 Transmission. . . . . . . . . . . . . . . . . . . . 3,247,280 5 (1) 3,247,281 Distribution. . . . . . . . . . . . . . . . . . . . 3,966,442 3,966,442 General(including mining assets and nuclear fuel) . 1,529,436 5 1 1,529,435 Construction Work In Progress . . . . . . . . . . . 258,700 5 (1) 258,701 Total Electric Utility Plant. . . . . . . . 18,174,624 0 18,174,624 $0 Accumulated Depreciation and Amortization. . . . . (6,826,514) 5 (1) (6,826,513) Net Electric Utility Plant. . . . . . . . . 11,348,110 (1) 11,348,111 0 Other Property and Investments. . . . . . . . . . . . 735,042 1,5 (4,225,110) 4,960,152 4,265,177 Current Assets: Cash and Cash Equivalents . . . . . . . . . . . . . 62,866 2 231 62,635 177 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . . . . 350,518 5 1 350,517 Affiliated Companies. . . . . . . . . . . . . . . 0 2 (172,804) 172,804 25 Miscellaneous . . . . . . . . . . . . . . . . . . 86,397 2 8,328 78,069 280 Allowance for Uncollectible Accounts. . . . . . . (4,056) 5 (1) (4,055) Fuel - at average cost . . . . . . . . . . . . . . 306,700 5 2 306,698 Materials and Supplies - at average cost. . . . . . 216,741 216,741 Accrued Utility Revenues. . . . . . . . . . . . . . 167,486 5 (1) 167,487 Prepayments and Other . . . . . . . . . . . . . . . 94,786 94,786 69 Total Current Assets. . . . . . . . . . . . 1,281,438 (164,244) 1,445,682 551 Regulatory Assets . . . . . . . . . . . . . . . . . . 1,949,852 3,5 8,834 1,941,018 (59) Deferred Charges. . . . . . . . . . . . . . . . . . . 398,257 2,3,4 (16,536) 414,793 16,410 Total . . . . . . . . . . . . . . . . . . $15,712,699 ($4,397,057) $20,109,756 $4,282,079 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994 (in thousands)
APCo CSPCo I&M CONSOLIDATED CONSOLIDATED CONSOLIDATED KEPCo KGPCo ------------ ------------ ------------ ----- ----- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . . . . $1,848,263 $1,461,484 $2,494,834 $224,365 Transmission. . . . . . . . . . . . . . . . . . . . 1,010,344 306,744 849,920 258,178 $10,543 Distribution. . . . . . . . . . . . . . . . . . . . 1,315,915 797,570 644,720 297,754 54,634 General(including mining assets and nuclear fuel) . 160,752 111,623 204,909 56,613 3,499 Construction Work In Progress . . . . . . . . . . . 63,453 52,156 74,923 15,002 330 Total Electric Utility Plant. . . . . . . . 4,398,727 2,729,577 4,269,306 851,912 69,006 Accumulated Depreciation and Amortization. . . . . (1,627,852) (884,237) (1,659,940) (259,984) (24,221) Net Electric Utility Plant. . . . . . . . . 2,770,875 1,845,340 2,609,366 591,928 44,785 Other Property and Investments. . . . . . . . . . . . 48,928 26,744 468,513 6,533 162 Current Assets: Cash and Cash Equivalents . . . . . . . . . . . . . 5,297 14,065 9,907 879 564 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . . . . 108,785 41,056 74,491 19,144 4,973 Affiliated Companies. . . . . . . . . . . . . . . 10,980 4,624 24,848 514 3,751 Miscellaneous . . . . . . . . . . . . . . . . . . 4,327 10,025 32,714 2,048 355 Allowance for Uncollectible Accounts. . . . . . . (830) (1,768) (121) (260) (31) Fuel - at average cost . . . . . . . . . . . . . . 65,581 28,060 35,802 11,735 Materials and Supplies - at average cost. . . . . . 49,451 24,923 59,897 9,615 568 Accrued Utility Revenues. . . . . . . . . . . . . . 51,686 31,595 40,582 9,128 3,486 Prepayments and Other . . . . . . . . . . . . . . . 6,487 31,241 8,414 1,476 1,137 Total Current Assets. . . . . . . . . . . . 301,764 183,821 286,534 54,279 14,803 Regulatory Assets . . . . . . . . . . . . . . . . . . 403,906 475,019 481,212 50,519 4,513 Deferred Charges. . . . . . . . . . . . . . . . . . . 59,015 63,418 70,104 11,049 12 Total . . . . . . . . . . . . . . . . . . $3,584,488 $2,594,342 $3,915,729 $714,308 $64,275 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994 (in thousands)
OPCo CONSOLIDATED WPCo AEPENS AEGCo AEPINV AEPRES ------------ ---- ------ ----- ------ ------ ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . . . . $2,516,390 $627,429 Transmission. . . . . . . . . . . . . . . . . . . . 790,736 $20,816 Distribution. . . . . . . . . . . . . . . . . . . . 798,387 57,462 General(including mining assets and nuclear fuel) . 782,719 6,442 2,658 Construction Work In Progress . . . . . . . . . . . 49,889 1,507 1,441 Total Electric Utility Plant. . . . . . . . 4,938,121 86,227 $0 631,528 $0 $0 Accumulated Depreciation and Amortization. . . . . (2,077,626) (33,572) (199,264) Net Electric Utility Plant. . . . . . . . . 2,860,495 52,655 0 432,264 0 0 Other Property and Investments. . . . . . . . . . . . 120,856 2,636 6 11,500 2 Current Assets: Cash and Cash Equivalents . . . . . . . . . . . . . 30,700 452 215 (2,780) 34 460 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . . . . 94,984 7,084 Affiliated Companies. . . . . . . . . . . . . . . 37,257 413 1 19,683 Miscellaneous . . . . . . . . . . . . . . . . . . 26,440 94 334 185 1,040 Allowance for Uncollectible Accounts. . . . . . . (1,019) (26) Fuel - at average cost . . . . . . . . . . . . . . 147,152 18,368 Materials and Supplies - at average cost. . . . . . 67,719 401 4,167 Accrued Utility Revenues. . . . . . . . . . . . . . 28,775 2,235 Prepayments and Other . . . . . . . . . . . . . . . 43,894 175 5 452 Total Current Assets. . . . . . . . . . . . 475,902 10,828 555 40,075 1,074 460 Regulatory Assets . . . . . . . . . . . . . . . . . . 521,855 17,127 (9,116) Deferred Charges. . . . . . . . . . . . . . . . . . . 154,501 1,476 372 28,749 Total . . . . . . . . . . . . . . . . . . $4,133,609 $84,722 $927 $491,978 $12,574 $462 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994 (in thousands)
AEPRI AEPSC CCCo COpCo FRECo IFRI ----- ----- ---- ----- ----- ---- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . . . . Transmission. . . . . . . . . . . . . . . . . . . . Distribution. . . . . . . . . . . . . . . . . . . . General(including mining assets and nuclear fuel) . $200,220 Construction Work In Progress . . . . . . . . . . . Total Electric Utility Plant. . . . . . . . $0 200,220 $0 $0 $0 $0 Accumulated Depreciation and Amortization. . . . . (59,817) Net Electric Utility Plant. . . . . . . . . 0 140,403 0 0 0 0 Other Property and Investments. . . . . . . . . . . . 8,393 701 1 Current Assets: Cash and Cash Equivalents . . . . . . . . . . . . . 1 623 20 1,982 38 1 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . . . . Affiliated Companies. . . . . . . . . . . . . . . 68,652 218 1,837 1 Miscellaneous . . . . . . . . . . . . . . . . . . 219 7 1 Allowance for Uncollectible Accounts. . . . . . . Fuel - at average cost . . . . . . . . . . . . . . Materials and Supplies - at average cost. . . . . . Accrued Utility Revenues. . . . . . . . . . . . . . Prepayments and Other . . . . . . . . . . . . . . . 1,418 2 16 Total Current Assets. . . . . . . . . . . . 1 70,912 247 3,836 39 1 Regulatory Assets . . . . . . . . . . . . . . . . . . (4,313) 355 Deferred Charges. . . . . . . . . . . . . . . . . . . 9,634 53 Total . . . . . . . . . . . . . . . . . . $1 $225,029 $948 $4,244 $40 $1 See Note to Consolidating Financial Statements on Page C-1.
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS APCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL APCo ------------ ------- ----------- -------- ---------- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . $1,848,263 $1,848,263 $1,835,075 Transmission. . . . . . . . . . . . . . . . . 1,010,344 1,010,344 1,008,971 Distribution. . . . . . . . . . . . . . . . . 1,315,915 1,315,915 1,315,915 General . . . . . . . . . . . . . . . . . . . 160,752 160,752 160,743 Construction Work In Progress . . . . . . . . 63,453 63,453 63,459 Total Electric Utility Plant. . . . . 4,398,727 0 4,398,727 4,384,163 Accumulated Depreciation and Amortization . (1,627,852) (1,627,852) (1,623,025) Net Electric Utility Plant. . . . . . 2,770,875 0 2,770,875 2,761,138 Other Property and Investments. . . . . . . . . 48,928 6,8 (27,093) 76,021 57,424 Current Assets: Cash and Cash Equivalents . . . . . . . . . . 5,297 5,297 4,281 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . 108,785 108,785 108,785 Affiliated Companies. . . . . . . . . . . . 10,980 7 (5,088) 16,068 11,035 Miscellaneous . . . . . . . . . . . . . . . 4,327 8 (1) 4,328 3,685 Allowance for Uncollectible Accounts. . . . (830) (830) (830) Fuel - at average cost. . . . . . . . . . . . 65,581 65,581 65,581 Materials and Supplies - at average cost. . . 49,451 49,451 49,278 Accrued Utility Revenues. . . . . . . . . . . 51,686 51,686 51,686 Prepayments and Other . . . . . . . . . . . . 6,487 6,487 6,057 Total Current Assets. . . . . . . . . 301,764 (5,089) 306,853 299,558 Regulatory Assets . . . . . . . . . . . . . . . 403,906 403,906 399,287 Deferred Charges. . . . . . . . . . . . . . . . 59,015 7 2 59,013 56,393 Total . . . . . . . . . . . . . . . $3,584,488 ($32,180) $3,616,668 $3,573,800 See Note to Consolidating Financial Statements on Page C-1
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
CeCCo CACCo KVPCo SACCo WVPCo ------- ----- ------- ------- ----- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . $13,188 Transmission. . . . . . . . . . . . . . . . . 1,373 Distribution. . . . . . . . . . . . . . . . . General . . . . . . . . . . . . . . . . . . . 9 Construction Work In Progress . . . . . . . . (6) Total Electric Utility Plant. . . . . $0 $0 14,564 $0 $0 Accumulated Depreciation and Amortization . (4,827) Net Electric Utility Plant. . . . . . 0 0 9,737 0 0 Other Property and Investments. . . . . . . . . 746 17,841 10 Current Assets: Cash and Cash Equivalents . . . . . . . . . . 322 34 61 387 212 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . Affiliated Companies. . . . . . . . . . . . 3,205 1,098 260 470 Miscellaneous . . . . . . . . . . . . . . . 68 48 526 1 Allowance for Uncollectible Accounts. . . . Fuel - at average cost. . . . . . . . . . . . Materials and Supplies - at average cost. . . 173 Accrued Utility Revenues. . . . . . . . . . . Prepayments and Other . . . . . . . . . . . . 405 25 Total Current Assets. . . . . . . . . 4,000 1,132 567 1,383 213 Regulatory Assets . . . . . . . . . . . . . . . 1,382 673 2,564 Deferred Charges. . . . . . . . . . . . . . . . 2,403 217 Total . . . . . . . . . . . . . . . $8,531 $1,132 $11,194 $21,788 $223 See Note to Consolidating Financial Statements on Page C-1
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS CSPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL CSPCo ------------ ------- ------------ ----------- --------- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . . . . $1,461,484 $1,461,484 $1,461,484 Transmission. . . . . . . . . . . . . . . . . . . . 306,744 306,744 306,744 Distribution. . . . . . . . . . . . . . . . . . . . 797,570 797,570 797,570 General . . . . . . . . . . . . . . . . . . . . . . 111,623 111,623 108,524 Construction Work In Progress . . . . . . . . . . . 52,156 52,156 52,156 Total Electric Utility Plant. . . . . . . . 2,729,577 $0 2,729,577 2,726,478 Accumulated Depreciation. . . . . . . . . . . . . . (884,237) (884,237) (882,460) Net Electric Utility Plant. . . . . . . . . 1,845,340 0 1,845,340 1,844,018 Other Property and Investments. . . . . . . . . . . . 26,744 9,11 (4,709) 31,453 28,568 Current Assets: Cash and Cash Equivalents . . . . . . . . . . . . . 14,065 14,065 13,711 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . . . . 41,056 41,056 41,056 Affiliated Companies. . . . . . . . . . . . . . . 4,624 10,11 (2,640) 7,264 4,625 Miscellaneous . . . . . . . . . . . . . . . . . . 10,025 10,025 9,965 Allowance for Uncollectible Accounts. . . . . . . (1,768) (1,768) (1,768) Fuel - at average cost. . . . . . . . . . . . . . . 28,060 28,060 28,060 Materials and Supplies - at average cost. . . . . . 24,923 11 1 24,922 24,068 Accrued Utility Revenues. . . . . . . . . . . . . . 31,595 31,595 31,595 Prepayments and Other . . . . . . . . . . . . . . . 31,241 31,241 31,203 Total Current Assets. . . . . . . . . . . . 183,821 (2,639) 186,460 182,515 Regulatory Assets . . . . . . . . . . . . . . . . . . 475,019 475,019 474,697 Deferred Charges. . . . . . . . . . . . . . . . . . . 63,418 10 (32) 63,450 63,390 Total . . . . . . . . . . . . . . . . . . $2,594,342 ($7,380) $2,601,722 $2,593,188 See Note to Consolidating Financial Statements on Page C-1.
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
COLM CCPC SIMCo ----- ------- ------- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . . . . Transmission. . . . . . . . . . . . . . . . . . . . Distribution. . . . . . . . . . . . . . . . . . . . General . . . . . . . . . . . . . . . . . . . . . . $1,457 1,642 Construction Work In Progress . . . . . . . . . . . Total Electric Utility Plant. . . . . . . . $0 1,457 $1,642 Accumulated Depreciation. . . . . . . . . . . . . . (926) (851) Net Electric Utility Plant. . . . . . . . . 0 531 791 Other Property and Investments. . . . . . . . . . . . 2,877 8 Current Assets: Cash and Cash Equivalents . . . . . . . . . . . . . 155 40 159 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . . . . Affiliated Companies. . . . . . . . . . . . . . . 2 2,592 45 Miscellaneous . . . . . . . . . . . . . . . . . . 43 17 Allowance for Uncollectible Accounts. . . . . . . Fuel - at average cost. . . . . . . . . . . . . . . Materials and Supplies - at average cost. . . . . . 854 Accrued Utility Revenues. . . . . . . . . . . . . . Prepayments and Other . . . . . . . . . . . . . . . 38 Total Current Assets. . . . . . . . . . . . 200 3,541 204 Regulatory Assets . . . . . . . . . . . . . . . . . . 322 Deferred Charges. . . . . . . . . . . . . . . . . . . 60 Total . . . . . . . . . . . . . . . . . . $3,077 $4,462 $995 See Note to Consolidating Financial Statements on Page C-1.
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS I&M ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL I&M ------------ ------- ------------ -------- ---------- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . . . . $2,494,834 $2,494,834 $2,494,834 Transmission. . . . . . . . . . . . . . . . . . . . 849,920 849,920 849,920 Distribution. . . . . . . . . . . . . . . . . . . . 644,720 644,720 644,720 General (including nuclear fuel). . . . . . . . . . 204,909 204,909 204,909 Construction Work In Progress . . . . . . . . . . . 74,923 74,923 74,923 Total Electric Utility Plant. . . . . . . . 4,269,306 $0 4,269,306 4,269,306 Accumulated Depreciation and Amortization . . . . (1,659,940) (1,659,940) (1,659,940) Net Electric Utility Plant. . . . . . . . . 2,609,366 0 2,609,366 2,609,366 Other Property and Investments. . . . . . . . . . . . 468,513 12 (90,839) 559,352 475,825 Current Assets: Cash and Cash Equivalents . . . . . . . . . . . . . 9,907 9,907 9,862 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . . . . 74,491 74,491 74,491 Affiliated Companies. . . . . . . . . . . . . . . 24,848 13 (536) 25,384 24,841 Miscellaneous . . . . . . . . . . . . . . . . . . 32,714 32,714 18,551 Allowance for Uncollectible Accounts. . . . . . . (121) (121) (121) Fuel - at average cost. . . . . . . . . . . . . . . 35,802 35,802 35,802 Materials and Supplies - at average cost. . . . . . 59,897 59,897 59,897 Accrued Utility Revenues. . . . . . . . . . . . . . 40,582 40,582 40,582 Prepayments and Other . . . . . . . . . . . . . . . 8,414 8,414 8,369 Total Current Assets. . . . . . . . . . . . 286,534 (536) 287,070 272,274 Regulatory Assets . . . . . . . . . . . . . . . . . . 481,212 481,212 467,689 Deferred Charges. . . . . . . . . . . . . . . . . . . 70,104 70,104 70,103 Total . . . . . . . . . . . . . . . . . . $3,915,729 ($91,375) $4,007,104 $3,895,257 See Note to Consolidating Financial Statements on Page C-1.
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
BHCCo PRCCo ----- ----- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . . . . Transmission. . . . . . . . . . . . . . . . . . . . Distribution. . . . . . . . . . . . . . . . . . . . General (including nuclear fuel). . . . . . . . . . Construction Work In Progress . . . . . . . . . . . Total Electric Utility Plant. . . . . . . . $0 $0 Accumulated Depreciation and Amortization . . . . Net Electric Utility Plant. . . . . . . . . 0 0 Other Property and Investments. . . . . . . . . . . . 83,527 Current Assets: Cash and Cash Equivalents . . . . . . . . . . . . . 45 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . . . . Affiliated Companies. . . . . . . . . . . . . . . 522 21 Miscellaneous . . . . . . . . . . . . . . . . . . 14,163 Allowance for Uncollectible Accounts. . . . . . . Fuel - at average cost. . . . . . . . . . . . . . . Materials and Supplies - at average cost. . . . . . Accrued Utility Revenues. . . . . . . . . . . . . . Prepayments and Other . . . . . . . . . . . . . . . 45 Total Current Assets. . . . . . . . . . . . 14,775 21 Regulatory Assets . . . . . . . . . . . . . . . . . . 13,523 Deferred Charges. . . . . . . . . . . . . . . . . . . 1 Total . . . . . . . . . . . . . . . . . . $111,826 $21 See Note to Consolidating Financial Statements on Page C-1.
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS OPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL OPCo ------------ ------- ------------ -------- --------- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . $2,516,390 $2,516,390 $2,516,390 Transmission. . . . . . . . . . . . . . . . . 790,736 790,736 790,736 Distribution. . . . . . . . . . . . . . . . . 798,387 798,387 798,387 General (including mining assets) . . . . . . 782,719 782,719 228,821 Construction Work In Progress . . . . . . . . 49,889 49,889 47,964 Total Electric Utility Plant. . . . . 4,938,121 $0 4,938,121 4,382,298 Accumulated Depreciation and Amortization . (2,077,626) (2,077,626) (1,804,656) Net Electric Utility Plant. . . . . . 2,860,495 0 2,860,495 2,577,642 Other Property and Investments. . . . . . . . . 120,856 14 (180,020) 300,876 234,525 Current Assets: Cash and Cash Equivalents . . . . . . . . . . 30,700 17 1 30,699 4,287 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . 94,984 94,984 94,984 Affiliated Companies. . . . . . . . . . . . 37,257 16 (11,795) 49,052 38,707 Miscellaneous . . . . . . . . . . . . . . . 26,440 17 1 26,439 8,926 Allowance for Uncollectible Accounts. . . . (1,019) (1,019) (1,019) Fuel - at average cost. . . . . . . . . . . . 147,152 17 (1) 147,153 146,229 Materials and Supplies - at average cost. . . 67,719 67,719 46,126 Accrued Utility Revenues. . . . . . . . . . . 28,775 28,775 28,775 Prepayments and Other . . . . . . . . . . . . 43,894 43,894 41,089 Total Current Assets. . . . . . . . . 475,902 (11,794) 487,696 408,104 Regulatory Assets . . . . . . . . . . . . . . . 521,855 521,855 456,063 Deferred Charges. . . . . . . . . . . . . . . . 154,501 15,16,17 34 154,467 141,834 Total . . . . . . . . . . . . . . . $4,133,609 ($191,780) $4,325,389 $3,818,168 See Note to Consolidating Financial Statements on Page C-1.
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
COCCo SOCCo WCCo ------ ------ ------- ASSETS Electric Utility Plant: Production. . . . . . . . . . . . . . . . . . Transmission. . . . . . . . . . . . . . . . . Distribution. . . . . . . . . . . . . . . . . General (including mining assets) . . . . . . $73,885 $413,583 $66,430 Construction Work In Progress . . . . . . . . 179 1,331 415 Total Electric Utility Plant. . . . . 74,064 414,914 66,845 Accumulated Depreciation and Amortization . (45,809) (200,496) (26,665) Net Electric Utility Plant. . . . . . 28,255 214,418 40,180 Other Property and Investments. . . . . . . . . 63 66,272 16 Current Assets: Cash and Cash Equivalents . . . . . . . . . . 6,025 20,369 18 Accounts Receivable: Customers . . . . . . . . . . . . . . . . . Affiliated Companies. . . . . . . . . . . . 1,210 8,320 815 Miscellaneous . . . . . . . . . . . . . . . 535 16,823 155 Allowance for Uncollectible Accounts. . . . Fuel - at average cost. . . . . . . . . . . . 413 121 390 Materials and Supplies - at average cost. . . 7,307 10,265 4,021 Accrued Utility Revenues. . . . . . . . . . . Prepayments and Other . . . . . . . . . . . . 1,228 1,336 241 Total Current Assets. . . . . . . . . 16,718 57,234 5,640 Regulatory Assets . . . . . . . . . . . . . . . 4,564 64,368 (3,140) Deferred Charges. . . . . . . . . . . . . . . . 7,336 4,819 478 Total . . . . . . . . . . . . . . . $56,936 $407,111 $43,174 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994 (in thousands)
JOURNAL ELIMINATIONS AEP ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP ------------ ------- ------------ -------- --- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . $1,262,527 1 ($738,724) $2,001,251 $1,262,527 Paid-in Capital . . . . . . . . . . . . . . . . . 1,641,522 1 (2,419,265) 4,060,787 1,641,522 Retained Earnings . . . . . . . . . . . . . . . . 1,325,581 1,3 (1,049,612) 2,375,193 1,325,581 Total Common Shareholders' Equity . . . . 4,229,630 (4,207,601) 8,437,231 4,229,630 Cumulative Preferred Stocks of Subsidiaries: Not Subject to Mandatory Redemption . . . . . . 233,240 233,240 Subject to Mandatory Redemption . . . . . . . . 590,300 590,300 Long-term Debt. . . . . . . . . . . . . . . . . . 4,686,648 1 (1,100) 4,687,748 Total Capitalization. . . . . . . . . . . 9,739,818 (4,208,701) 13,948,519 4,229,630 Other Noncurrent Liabilities. . . . . . . . . . . . 667,722 4 (3,746) 671,468 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . 293,671 5 1 293,670 Short-term Debt . . . . . . . . . . . . . . . . . 316,985 316,985 52,000 Accounts Payable: General . . . . . . . . . . . . . . . . . . . . 251,186 2 7,398 243,788 Affiliated Companies . . . . . . . . . . . . . 0 2 (166,253) 166,253 82 Taxes Accrued . . . . . . . . . . . . . . . . . . 382,677 5 2 382,675 Interest Accrued. . . . . . . . . . . . . . . . . 88,916 88,916 34 Obligations Under Capital Leases. . . . . . . . . 93,252 5 1 93,251 Other . . . . . . . . . . . . . . . . . . . . . . 407,965 2,5 (1,358) 409,323 383 Total Current Liabilities . . . . . . . . 1,834,652 (160,209) 1,994,861 52,499 Deferred Federal Income Taxes . . . . . . . . . . . 2,473,539 3,5 8,837 2,464,702 (60) Deferred Investment Tax Credits . . . . . . . . . . 456,043 5 (1) 456,044 Deferred Gain on Sale and Leaseback - Rockport Plant Unit 2 . . . . . . . . . . . . . . 415,226 5 (1) 415,227 Deferred Credits. . . . . . . . . . . . . . . . . . 125,699 3,5 (33,236) 158,935 10 Total . . . . . . . . . . . . . . . . . $15,712,699 ($4,397,057) $20,109,756 $4,282,079 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994 (in thousands)
APCo CSPCo I&M CONSOLIDATED CONSOLIDATED CONSOLIDATED KEPCo KGPCo ------------ ------------ ------------ ----- ----- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . $260,458 $41,026 $56,584 $50,450 $4,100 Paid-in Capital . . . . . . . . . . . . . . . . . 504,408 565,642 734,511 68,750 5,800 Retained Earnings . . . . . . . . . . . . . . . . 206,361 46,976 216,658 89,173 6,882 Total Common Shareholders' Equity . . . . 971,227 653,644 1,007,753 208,373 16,782 Cumulative Preferred Stocks of Subsidiaries: Not Subject to Mandatory Redemption . . . . . . 55,000 52,000 Subject to Mandatory Redemption . . . . . . . . 190,300 150,000 135,000 Long-term Debt. . . . . . . . . . . . . . . . . . 1,228,911 917,608 929,887 253,583 20,000 Total Capitalization. . . . . . . . . . . 2,445,438 1,721,252 2,124,640 461,956 36,782 Other Noncurrent Liabilities. . . . . . . . . . . . 66,156 25,861 382,309 11,449 4,525 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . . . 80,000 140,000 2,000 Short-term Debt . . . . . . . . . . . . . . . . . 122,825 50,600 55,150 3,275 Accounts Payable: General . . . . . . . . . . . . . . . . . . . . 46,729 34,934 40,417 11,119 329 Affiliated Companies . . . . . . . . . . . . . 46,983 14,057 22,720 8,301 5,941 Taxes Accrued . . . . . . . . . . . . . . . . . . 34,623 113,362 63,621 6,256 679 Interest Accrued. . . . . . . . . . . . . . . . . 17,347 18,923 19,436 5,794 670 Obligations Under Capital Leases. . . . . . . . . 10,154 4,890 39,003 1,864 158 Other . . . . . . . . . . . . . . . . . . . . . . 81,444 32,631 87,821 16,900 1,566 Total Current Liabilities . . . . . . . . 360,105 298,797 463,618 105,384 14,618 Deferred Federal Income Taxes . . . . . . . . . . . 595,353 467,593 563,654 115,003 6,895 Deferred Investment Tax Credits . . . . . . . . . . 77,862 64,597 171,688 15,288 1,247 Deferred Gain on Sale and Leaseback - Rockport Plant Unit 2 . . . . . . . . . . . . . . . 204,138 Deferred Credits. . . . . . . . . . . . . . . . . . 39,574 16,242 5,682 5,228 208 Total . . . . . . . . . . . . . . . . . $3,584,488 $2,594,342 $3,915,729 $714,308 $64,275 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994 (in thousands)
OPCo CONSOLIDATED WPCo AEPENS AEGCo AEPINV AEPRES ------------ ---- ------ ----- ------ ------ CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . $321,201 $2,428 $110 $1,000 Paid-in Capital . . . . . . . . . . . . . . . . . 463,100 12,596 2,390 47,735 $12,610 $510 Retained Earnings . . . . . . . . . . . . . . . . 483,222 6,016 (1,863) 4,268 (8,210) (59) Total Common Shareholders' Equity . . . . 1,267,523 21,040 637 53,003 4,400 451 Cumulative Preferred Stocks of Subsidiaries: Not Subject to Mandatory Redemption . . . . . . 126,240 Subject to Mandatory Redemption . . . . . . . . 115,000 Long-term Debt. . . . . . . . . . . . . . . . . . 1,188,319 15,000 53,340 Total Capitalization. . . . . . . . . . . 2,697,082 36,040 637 106,343 4,400 451 Other Noncurrent Liabilities. . . . . . . . . . . . 137,417 3,681 2,019 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . 670 11,000 55,000 Short-term Debt . . . . . . . . . . . . . . . . . 17,235 8,700 7,200 Accounts Payable: General . . . . . . . . . . . . . . . . . . . . 93,770 460 4,914 Affiliated Companies . . . . . . . . . . . . . 28,662 5,233 412 1,805 25 8 Taxes Accrued . . . . . . . . . . . . . . . . . . 156,525 1,490 (122) 3,648 (2) 3 Interest Accrued. . . . . . . . . . . . . . . . . 22,681 660 2,955 Obligations Under Capital Leases. . . . . . . . . 25,314 498 408 Other . . . . . . . . . . . . . . . . . . . . . . 139,247 1,947 10,538 Total Current Liabilities . . . . . . . . 484,104 29,988 290 86,468 23 11 Deferred Federal Income Taxes . . . . . . . . . . . 695,115 13,771 5,465 (4,389) Deferred Investment Tax Credits . . . . . . . . . . 42,828 704 80,471 Deferred Gain on Sale and Leaseback - Rockport Plant Unit 2 . . . . . . . . . . . . . . 211,089 Deferred Credits. . . . . . . . . . . . . . . . . . 77,063 538 123 12,540 Total . . . . . . . . . . . . . . . . . $4,133,609 $84,722 $927 $491,978 $12,574 $462 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994 (in thousands)
AEPRI AEPSC CCCo COpCo FRECo IFRI ----- ----- ---- ----- ----- ---- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . $1,350 $3 $3 $10 $1 Paid-in Capital . . . . . . . . . . . . . . . . . $5 1,205 3 Retained Earnings . . . . . . . . . . . . . . . . (4) 172 20 Total Common Shareholders' Equity . . . . 1 1,350 1,208 178 30 1 Cumulative Preferred Stocks of Subsidiaries: Not Subject to Mandatory Redemption . . . . . . Subject to Mandatory Redemption . . . . . . . . Long-term Debt. . . . . . . . . . . . . . . . . . 81,100 Total Capitalization. . . . . . . . . . . 1 82,450 1,208 178 30 1 Other Noncurrent Liabilities. . . . . . . . . . . . 36,078 1,973 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . 5,000 Short-term Debt . . . . . . . . . . . . . . . . . Accounts Payable: General . . . . . . . . . . . . . . . . . . . . 10,747 369 Affiliated Companies . . . . . . . . . . . . . 31,410 7 597 10 Taxes Accrued . . . . . . . . . . . . . . . . . . 2,815 2 (225) Interest Accrued. . . . . . . . . . . . . . . . . 416 Obligations Under Capital Leases. . . . . . . . . 10,962 Other . . . . . . . . . . . . . . . . . . . . . . 34,092 86 2,668 Total Current Liabilities . . . . . . . . 0 95,442 95 3,409 10 0 Deferred Federal Income Taxes . . . . . . . . . . . 8,123 (430) (1,391) Deferred Investment Tax Credits . . . . . . . . . . 1,359 Deferred Gain on Sale and Leaseback - Rockport Plant Unit 2 . . . . . . . . . . . . . . Deferred Credits. . . . . . . . . . . . . . . . . . 1,577 75 75 Total . . . . . . . . . . . . . . . . . $1 $225,029 $948 $4,244 $40 $1 See Note to Consolidating Financial Statements on Page C-1.
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS APCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL APCo ------------ ------- ------------ ----------- --------- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . $260,458 6 ($211) $260,669 $260,458 Paid-in Capital . . . . . . . . . . . . . . . . 504,408 6 (25,541) 529,949 504,408 Retained Earnings . . . . . . . . . . . . . . . 206,361 6 (1,340) 207,701 206,361 Total Common Shareowners' Equity. . . . 971,227 (27,092) 998,319 971,227 Cumulative Preferred Stock: Not Subject to Mandatory Redemption . . . . . 55,000 55,000 55,000 Subject to Mandatory Redemption . . . . . . . 190,300 190,300 190,300 Long-term Debt. . . . . . . . . . . . . . . . . 1,228,911 1,228,911 1,228,911 Total Capitalization. . . . . . . . . . 2,445,438 (27,092) 2,472,530 2,445,438 Other Noncurrent Liabilities. . . . . . . . . . . 66,156 8 (1) 66,157 62,882 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . 0 0 Short-term Debt . . . . . . . . . . . . . . . . 122,825 122,825 120,400 Accounts Payable: General. . . . . . . . . . . . . . . . . . . 46,729 8 1 46,728 46,720 Affiliated Companies . . . . . . . . . . . . 46,983 7 (5,086) 52,069 51,990 Taxes Accrued . . . . . . . . . . . . . . . . . 34,623 8 (1) 34,624 34,536 Interest Accrued. . . . . . . . . . . . . . . . 17,347 17,347 17,338 Obligations Under Capital Leases. . . . . . . . 10,154 10,154 10,154 Other . . . . . . . . . . . . . . . . . . . . . 81,444 8 (1) 81,445 78,119 Total Current Liabilities . . . . . . . 360,105 (5,087) 365,192 359,257 Deferred Federal Income Taxes . . . . . . . . . . 595,353 595,353 592,986 Deferred Investment Tax Credits . . . . . . . . . 77,862 77,862 77,844 Deferred Credits. . . . . . . . . . . . . . . . . 39,574 39,574 35,393 Total . . . . . . . . . . . . . . . . $3,584,488 ($32,180) $3,616,668 $3,573,800 See Note to Consolidating Financial Statements on Page C-1.
APPALACHIAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
CeCCo CACCo KVPCo SACCo WVPCo ------ ------ ------ ------- ------ CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . $200 $3 $1 $7 Paid-in Capital . . . . . . . . . . . . . . . . 6,418 450 2,396 16,082 $195 Retained Earnings . . . . . . . . . . . . . . . (3,171) (362) 3,845 999 29 Total Common Shareowners' Equity. . . . 3,447 91 6,242 17,088 224 Cumulative Preferred Stock: Not Subject to Mandatory Redemption . . . . . Subject to Mandatory Redemption . . . . . . . Long-term Debt. . . . . . . . . . . . . . . . . Total Capitalization. . . . . . . . . . 3,447 91 6,242 17,088 224 Other Noncurrent Liabilities. . . . . . . . . . . 983 1,598 104 590 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . Short-term Debt . . . . . . . . . . . . . . . . 2,425 Accounts Payable: General. . . . . . . . . . . . . . . . . . . 8 Affiliated Companies . . . . . . . . . . . . 10 56 13 Taxes Accrued . . . . . . . . . . . . . . . . . (178) (16) 300 (17) (1) Interest Accrued. . . . . . . . . . . . . . . . 9 Obligations Under Capital Leases. . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . 2,540 254 471 61 Total Current Liabilities . . . . . . . 2,372 238 3,269 57 (1) Deferred Federal Income Taxes . . . . . . . . . . (587) (818) 1,561 2,211 Deferred Investment Tax Credits . . . . . . . . . 18 Deferred Credits. . . . . . . . . . . . . . . . . 2,316 23 1,842 Total . . . . . . . . . . . . . . . . $8,531 $1,132 $11,194 $21,788 $223 See Note to Consolidating Financial Statements on Page C-1.
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS CSPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL CSPCo ------------ ------- ------------ ----------- --------- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . . $41,026 9 ($1,609) $42,635 $41,026 Paid-in Capital . . . . . . . . . . . . . . . . . . 565,642 9 (870) 566,512 565,642 Retained Earnings . . . . . . . . . . . . . . . . . 46,976 9 (2,229) 49,205 46,976 Total Common Shareowners' Equity. . . . . . 653,644 (4,708) 658,352 653,644 Cumulative Preferred Stock - Subject to Mandatory Redemption . . . . . . . . . 150,000 150,000 150,000 Long-term Debt. . . . . . . . . . . . . . . . . . . 917,608 917,608 917,608 Total Capitalization. . . . . . . . . . . . 1,721,252 (4,708) 1,725,960 1,721,252 Other Noncurrent Liabilities. . . . . . . . . . . . . 25,861 25,861 25,597 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . . 80,000 80,000 80,000 Short-term Debt . . . . . . . . . . . . . . . . . . 0 0 Accounts Payable: General. . . . . . . . . . . . . . . . . . . . . 34,934 34,934 34,735 Affiliated Companies . . . . . . . . . . . . . . 14,057 10,11 (2,633) 16,690 16,465 Taxes Accrued . . . . . . . . . . . . . . . . . . . 113,362 113,362 113,360 Interest Accrued. . . . . . . . . . . . . . . . . . 18,923 18,923 18,923 Obligations Under Capital Leases. . . . . . . . . . 4,890 11 1 4,889 4,753 Other . . . . . . . . . . . . . . . . . . . . . . . 32,631 10 (39) 32,670 31,053 Total Current Liabilities . . . . . . . . . 298,797 (2,671) 301,468 299,289 Deferred Federal Income Taxes . . . . . . . . . . . . 467,593 467,593 468,082 Deferred Investment Tax Credits . . . . . . . . . . . 64,597 64,597 64,542 Deferred Credits. . . . . . . . . . . . . . . . . . . 16,242 11 (1) 16,243 14,426 Total . . . . . . . . . . . . . . . . . . $2,594,342 ($7,380) $2,601,722 $2,593,188 See Note to Consolidating Financial Statements on Page C-1.
COLUMBUS SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
COLM CCPC SIMCo --------- -------- ------ CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . . $1,500 $100 $9 Paid-in Capital . . . . . . . . . . . . . . . . . . 30 400 440 Retained Earnings . . . . . . . . . . . . . . . . . 1,458 610 161 Total Common Shareowners' Equity. . . . . . 2,988 1,110 610 Cumulative Preferred Stock - Subject to Mandatory Redemption . . . . . . . . . Long-term Debt. . . . . . . . . . . . . . . . . . . Total Capitalization. . . . . . . . . . . . 2,988 1,110 610 Other Noncurrent Liabilities. . . . . . . . . . . . . 264 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . . Short-term Debt . . . . . . . . . . . . . . . . . . Accounts Payable: General. . . . . . . . . . . . . . . . . . . . . 199 Affiliated Companies . . . . . . . . . . . . . . 56 131 38 Taxes Accrued . . . . . . . . . . . . . . . . . . . 23 18 (39) Interest Accrued. . . . . . . . . . . . . . . . . . Obligations Under Capital Leases. . . . . . . . . . 136 Other . . . . . . . . . . . . . . . . . . . . . . . 1,617 Total Current Liabilities . . . . . . . . . 79 2,101 (1) Deferred Federal Income Taxes . . . . . . . . . . . . (670) 181 Deferred Investment Tax Credits . . . . . . . . . . . 55 Deferred Credits. . . . . . . . . . . . . . . . . . . 10 1,657 150 Total . . . . . . . . . . . . . . . . . . $3,077 $4,462 $995 See Note to Consolidating Financial Statements on Page C-1.
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS I&M ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL I&M ------------ -------- ------------ ----------- --------- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . $56,584 12 ($39,548) $96,132 $56,584 Paid-in Capital . . . . . . . . . . . . . . . . . 734,511 12 (1,303) 735,814 734,511 Retained Earnings . . . . . . . . . . . . . . . . 216,658 12 (9,788) 226,446 216,658 Total Common Shareowners' Equity. . . . . 1,007,753 (50,639) 1,058,392 1,007,753 Cumulative Preferred Stock: Not Subject to Mandatory Redemption . . . . . . 52,000 52,000 52,000 Subject to Mandatory Redemption . . . . . . . . 135,000 135,000 135,000 Long-term Debt. . . . . . . . . . . . . . . . . . 929,887 12 (40,200) 970,087 929,887 Total Capitalization. . . . . . . . . . . 2,124,640 (90,839) 2,215,479 2,124,640 Other Noncurrent Liabilities. . . . . . . . . . . . 382,309 382,309 382,309 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . 140,000 140,000 140,000 Short-term Debt . . . . . . . . . . . . . . . . . 50,600 50,600 50,600 Accounts Payable: General. . . . . . . . . . . . . . . . . . . . 40,417 40,417 40,414 Affiliated Companies . . . . . . . . . . . . . 22,720 13 (515) 23,235 23,220 Taxes Accrued . . . . . . . . . . . . . . . . . . 63,621 63,621 63,644 Interest Accrued. . . . . . . . . . . . . . . . . 19,436 19,436 19,436 Obligations Under Capital Leases. . . . . . . . . 39,003 39,003 39,003 Other . . . . . . . . . . . . . . . . . . . . . . 87,821 87,821 87,591 Total Current Liabilities . . . . . . . . 463,618 (515) 464,133 463,908 Deferred Federal Income Taxes . . . . . . . . . . . 563,654 563,654 544,996 Deferred Investment Tax Credits . . . . . . . . . . 171,688 171,688 171,688 Deferred Gain on Sale and Leaseback - Rockport Plant Unit 2 . . . . . . . . . . . . . . 204,138 204,138 204,138 Deferred Credits. . . . . . . . . . . . . . . . . . 5,682 13 (21) 5,703 3,578 Total . . . . . . . . . . . . . . . . . $3,915,729 ($91,375) $4,007,104 $3,895,257 See Note to Consolidating Financial Statements on Page C-1.
INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
BHCCo PRCCo --------- ------- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . $39,521 $27 Paid-in Capital . . . . . . . . . . . . . . . . . 1,303 Retained Earnings . . . . . . . . . . . . . . . . 9,788 Total Common Shareowners' Equity. . . . . 50,612 27 Cumulative Preferred Stock: Not Subject to Mandatory Redemption . . . . . . Subject to Mandatory Redemption . . . . . . . . Long-term Debt. . . . . . . . . . . . . . . . . . 40,200 Total Capitalization. . . . . . . . . . . 90,812 27 Other Noncurrent Liabilities. . . . . . . . . . . . Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . Short-term Debt . . . . . . . . . . . . . . . . . Accounts Payable: General. . . . . . . . . . . . . . . . . . . . 3 Affiliated Companies . . . . . . . . . . . . . 15 Taxes Accrued . . . . . . . . . . . . . . . . . . (18) (5) Interest Accrued. . . . . . . . . . . . . . . . . Obligations Under Capital Leases. . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . 230 Total Current Liabilities . . . . . . . . 230 (5) Deferred Federal Income Taxes . . . . . . . . . . . 18,659 (1) Deferred Investment Tax Credits . . . . . . . . . . Deferred Gain on Sale and Leaseback - Rockport Plant Unit 2 . . . . . . . . . . . . . . Deferred Credits. . . . . . . . . . . . . . . . . . 2,125 Total . . . . . . . . . . . . . . . . . $111,826 $21 See Note to Consolidating Financial Statements on Page C-1.
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS OPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL OPCo ------------ ------- ------------ ----------- --------- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . $321,201 14 ($7,311) $328,512 $321,201 Paid-in Capital . . . . . . . . . . . . . . . . . 463,100 14 (136,228) 599,328 463,100 Retained Earnings . . . . . . . . . . . . . . . . 483,222 14 (34,756) 517,978 483,222 Total Common Shareowners' Equity. . . . . 1,267,523 (178,295) 1,445,818 1,267,523 Cumulative Preferred Stock: Not Subject to Mandatory Redemption . . . . . . 126,240 126,240 126,240 Subject to Mandatory Redemption . . . . . . . . 115,000 115,000 115,000 Long-term Debt. . . . . . . . . . . . . . . . . . 1,188,319 14 (1,725) 1,190,044 1,089,072 Total Capitalization. . . . . . . . . . . 2,697,082 (180,020) 2,877,102 2,597,835 Other Noncurrent Liabilities. . . . . . . . . . . . 137,418 137,418 73,778 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . 670 17 (1) 671 Short-term Debt . . . . . . . . . . . . . . . . . 17,235 17,235 17,150 Accounts Payable: General. . . . . . . . . . . . . . . . . . . . 93,770 17 1 93,769 82,525 Affiliated Companies . . . . . . . . . . . . . 28,662 16 (11,761) 40,423 36,995 Taxes Accrued . . . . . . . . . . . . . . . . . . 156,525 156,525 153,816 Interest Accrued. . . . . . . . . . . . . . . . . 22,681 15 (1) 22,682 20,455 Obligations Under Capital Leases. . . . . . . . . 25,314 25,314 8,846 Other . . . . . . . . . . . . . . . . . . . . . . 139,246 139,246 76,739 Total Current Liabilities . . . . . . . . 484,103 (11,762) 495,865 396,526 Deferred Federal Income Taxes . . . . . . . . . . . 695,115 695,115 638,717 Deferred Investment Tax Credits . . . . . . . . . . 42,828 42,828 42,828 Deferred Credits. . . . . . . . . . . . . . . . . . 77,063 17 2 77,061 68,484 Total . . . . . . . . . . . . . . . . . $4,133,609 ($191,780) $4,325,389 $3,818,168 See Note to Consolidating Financial Statements on Page C-1.
OHIO POWER COMPANY AND SUBSIDIARY COMPANIES CONSOLIDATING BALANCE SHEET December 31, 1994 (in thousands)
COCCo SOCCo WCCo --------- --------- --------- CAPITALIZATION AND LIABILITIES Capitalization: Common Stock. . . . . . . . . . . . . . . . . . . $6,900 $5 $406 Paid-in Capital . . . . . . . . . . . . . . . . . 13,069 112,689 10,470 Retained Earnings . . . . . . . . . . . . . . . . 348 33,025 1,383 Total Common Shareowners' Equity. . . . . 20,317 145,719 12,259 Cumulative Preferred Stock: Not Subject to Mandatory Redemption . . . . . . Subject to Mandatory Redemption . . . . . . . . Long-term Debt. . . . . . . . . . . . . . . . . . 1,978 90,000 8,994 Total Capitalization. . . . . . . . . . . 22,295 235,719 21,253 Other Noncurrent Liabilities. . . . . . . . . . . . 17,013 42,362 4,265 Current Liabilities: Long-term Debt Due Within One Year. . . . . . . . 101 570 Short-term Debt . . . . . . . . . . . . . . . . . 19 66 Accounts Payable: General. . . . . . . . . . . . . . . . . . . . 1,549 8,909 786 Affiliated Companies . . . . . . . . . . . . . 485 2,310 633 Taxes Accrued . . . . . . . . . . . . . . . . . . 1,447 1,095 167 Interest Accrued. . . . . . . . . . . . . . . . . 2,226 1 Obligations Under Capital Leases. . . . . . . . . 3,344 11,045 2,079 Other . . . . . . . . . . . . . . . . . . . . . . 18,834 34,517 9,156 Total Current Liabilities . . . . . . . . 25,779 60,102 13,458 Deferred Federal Income Taxes . . . . . . . . . . . (15,474) 67,875 3,997 Deferred Investment Tax Credits . . . . . . . . . . Deferred Credits. . . . . . . . . . . . . . . . . . 7,323 1,053 201 Total . . . . . . . . . . . . . . . . . $56,936 $407,111 $43,174 See Note to Consolidating Financial Statements on Page C-1.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS AEP ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP OPERATING ACTIVITIES: Net Income (Loss). . . . . . . . . . . . . . . . . . . . . . . . $500,012 1,2,7 ($562,074) $1,062,086 $500,012 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . 561,188 561,188 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . (12,223) 3,7 178 (12,401) Deferred Investment Tax Credits. . . . . . . . . . . . . . . . (31,275) 1 1,025 (32,300) Equity in Undistributed Earnings of Affiliated Companies . . . 6 1 51,620 (51,614) (51,618) Deferred Operating Expenses and Carrying Charges (net of amortization). . . . . . . . . . . . . . . . 16,022 7 1 16,021 Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . 30,906 5,7 25,357 5,549 (174) Fuel, Materials and Supplies . . . . . . . . . . . . . . . . (1,627) 7 (3) (1,624) Accrued Utility Revenues . . . . . . . . . . . . . . . . . . 2,419 7 1 2,418 Accounts Payable . . . . . . . . . . . . . . . . . . . . . . (7,959) 5 (24,554) 16,595 (20) Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . (26,521) 7 2 (26,523) Other (net) . . . . . . . . . . . . . . . . . . . . . . . . . . (53,223) 2-5,7 (587) (52,636) 213 Net Cash Flows From (Used For) Operating Activities. . . . 977,725 (509,034) 1,486,759 448,413 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . (643,457) 4,7 4,033 (647,490) Proceeds from Sales of Property and Other. . . . . . . . . . . . 49,802 4,7 (4,300) 54,102 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . 0 6 14,855 (14,855) (14,850) Net Cash Flows Used For Investing Activities . . . . . . . (593,655) 14,588 (608,243) (14,850) FINANCING ACTIVITIES: Capital Contributions From (Returned to) Parent Company. . . . . 0 6 (14,850) 14,850 Issuance of Common Stock . . . . . . . . . . . . . . . . . . . . 22,256 6 (5) 22,261 22,256 Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . 88,787 7 (1) 88,788 Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . 411,869 7 1 411,868 Change in Short-term Debt (net). . . . . . . . . . . . . . . . . 38,009 7 (1) 38,010 (12,650) Retirement of Cumulative Preferred Stock . . . . . . . . . . . . (35,949) 7 1 (35,950) Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . (445,636) (445,636) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . (443,101) 1 454,733 (897,834) (443,101) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . 0 2 52,909 (52,909) Net Cash Flows From (Used For) Financing Activities. . . . (363,765) 492,787 (856,552) (433,495) Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . 20,305 (1,659) 21,964 68 Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . 42,561 5 1,890 40,671 109 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . $62,866 5 $231 $62,635 $177 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . $379,361 7 ($1) $379,362 $2,327 Income Taxes Paid (Received) . . . . . . . . . . . . . . . . . $312,233 7 ($1) $312,234 $176 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . $227,055 7 ($1) $227,056 See Note to Consolidating Financial Statements on Page C-1
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
APCo CSPCo I&M CONSOLIDATED CONSOLIDATED CONSOLIDATED KEPCo OPERATING ACTIVITIES: Net Income (Loss). . . . . . . . . . . . . . . . . . . . . . . . . . $102,345 $109,845 $157,471 $25,273 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . . . 130,694 82,795 146,966 23,124 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . . . 17,355 (2,132) (17,049) (1,239) Deferred Investment Tax Credits. . . . . . . . . . . . . . . . . . (5,492) (3,929) (13,877) (1,453) Equity in Undistributed Earnings of Affiliated Companies . . . . . Deferred Operating Expenses and Carrying Charges (net of amortization). . . . . . . . . . . . . . . . . . 19,156 (3,135) Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . . . 7,600 (2,840) (10,596) 2,692 Fuel, Materials and Supplies . . . . . . . . . . . . . . . . . . (24,800) 5,046 (3,423) (4,141) Accrued Utility Revenues . . . . . . . . . . . . . . . . . . . . 6,608 (2,706) (5,940) 1,348 Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . 25,554 (1,556) 5,219 964 Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . . . (17,505) (871) 9,148 (511) Other (net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . (24,357) (8,264) (11,444) 264 Net Cash Flows From (Used For) Operating Activities. . . . . . 218,002 194,544 253,340 46,321 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . . . (230,531) (80,973) (118,094) (53,119) Proceeds from Sales of Property and Other. . . . . . . . . . . . . . 948 2,606 2,038 1,215 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . . . Net Cash Flows Used For Investing Activities . . . . . . . . . (229,583) (78,367) (116,056) (51,904) FINANCING ACTIVITIES: Capital Contributions From (Returned to) Parent Company. . . . . . . 10,000 10,000 Issuance of Common Stock . . . . . . . . . . . . . . . . . . . . . . Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . . . 29,574 24,596 34,618 Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . . . 70,443 198,298 89,221 Change in Short-term Debt (net). . . . . . . . . . . . . . . . . . . 83,325 (25,225) 525 17,000 Retirement of Cumulative Preferred Stock . . . . . . . . . . . . . . (152) (35,798) Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . . . (58,236) (225,834) (101,833) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . . . (108,140) (68,788) (106,608) (21,396) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . . . (14,562) (11,792) (11,254) Net Cash Flows From (Used For) Financing Activities. . . . . . 12,252 (108,745) (131,129) 5,604 Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . . . 671 7,432 6,155 21 Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . . . 4,626 6,633 3,752 858 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . . . $5,297 $14,065 $9,907 $879 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . . . $96,667 $83,251 $68,946 $20,604 Income Taxes Paid (Received) . . . . . . . . . . . . . . . . . . . $48,872 $59,218 $85,854 $7,606 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . . . $22,883 $14,899 $92,199 $3,339 See Note to Consolidating Financial Statements on Page C-1
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
OPCo KGPCo CONSOLIDATED WPCo AEPENS AEGCo OPERATING ACTIVITIES: Net Income (Loss). . . . . . . . . . . . . . . . . . . . . . . . . . $3,147 $162,626 $1,063 ($1,562) $10,110 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . . . 2,124 147,347 2,501 21,615 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . . . 398 (9,471) 256 (4) 5,297 Deferred Investment Tax Credits. . . . . . . . . . . . . . . . . . (72) (3,630) (41) (3,430) Equity in Undistributed Earnings of Affiliated Companies . . . . . Deferred Operating Expenses and Carrying Charges (net of amortization). . . . . . . . . . . . . . . . . . Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . . . (999) 21,513 (746) (299) (1,139) Fuel, Materials and Supplies . . . . . . . . . . . . . . . . . . (150) 31,474 (83) (5,547) Accrued Utility Revenues . . . . . . . . . . . . . . . . . . . . (139) 3,459 (212) Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . (222) (17,657) (8,602) 328 272 Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . . . (1,233) (11,570) (312) (86) (49) Other (net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,749 (26,530) 182 (9) (1,710) Net Cash Flows From (Used For) Operating Activities. . . . . . 4,603 297,561 (5,994) (1,632) 25,419 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . . . (5,096) (151,255) (4,506) (3,909) Proceeds from Sales of Property and Other. . . . . . . . . . . . . . 46,202 1,093 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . . . Net Cash Flows Used For Investing Activities . . . . . . . . . (5,096) (105,053) (3,413) 0 (3,909) FINANCING ACTIVITIES: Capital Contributions From (Returned to) Parent Company. . . . . . . 1,500 (6,700) Issuance of Common Stock . . . . . . . . . . . . . . . . . . . . . . Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . . . Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . . . 5,000 48,906 Change in Short-term Debt (net). . . . . . . . . . . . . . . . . . . (2,600) (23,015) 8,700 (8,050) Retirement of Cumulative Preferred Stock . . . . . . . . . . . . . . Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . . . (54,733) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . . . (1,684) (138,468) (2,468) (7,181) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . . . (15,301) Net Cash Flows From (Used For) Financing Activities. . . . . . 716 (182,611) 6,232 1,500 (21,931) Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . . . 223 9,897 (3,175) (132) (421) Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . . . 341 20,803 3,627 347 (2,359) Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . . . $564 $30,700 $452 $215 ($2,780) Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . . . $1,532 $85,496 $2,362 $9,367 Income Taxes Paid (Received) . . . . . . . . . . . . . . . . . . . $1,444 $107,514 ($47) ($746) ($1,143) Noncash Acquisitions Under Capital Leases. . . . . . . . . . . . . $618 $65,008 $2,107 $828 See Note to Consolidating Financial Statements on Page C-1
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
AEPINV AEPRES AEPRI AEPSC CCCo COpCo FRECo IFRI OPERATING ACTIVITIES: Net Income (Loss). . . . . . . . . . . . . . . . . . . . . ($8,187) ($54) ($4) $1 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . $4,022 Deferred Federal Income Taxes. . . . . . . . . . . . . . (4,389) (1,199) ($47) (177) Deferred Investment Tax Credits. . . . . . . . . . . . . (376) Equity in Undistributed Earnings of Affiliated Companies 4 Deferred Operating Expenses and Carrying Charges (net of amortization). . . . . . . . . . . . . Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . (20) 1 (9,310) (201) 63 $4 Fuel, Materials and Supplies . . . . . . . . . . . . . Accrued Utility Revenues . . . . . . . . . . . . . . . Accounts Payable . . . . . . . . . . . . . . . . . . . 25 8 11,712 (12) 572 10 Taxes Accrued. . . . . . . . . . . . . . . . . . . . . (5) 3 (3,305) (8) (219) Other (net) . . . . . . . . . . . . . . . . . . . . . . . 12,541 21 3,344 127 1,237 Net Cash Flows From (Used For) Operating Activities. (35) (17) (4) 4,888 (141) 1,477 14 0 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . (7) Proceeds from Sales of Property and Other. . . . . . . . . Investment in Subsidiaries . . . . . . . . . . . . . . . . (5) Net Cash Flows Used For Investing Activities . . . . 0 (5) 0 (7) 0 0 0 0 FINANCING ACTIVITIES: Capital Contributions From (Returned to) Parent Company. . 50 Issuance of Common Stock . . . . . . . . . . . . . . . . . 5 Issuance of Cumulative Preferred Stock . . . . . . . . . . Issuance of Long-term Debt . . . . . . . . . . . . . . . . Change in Short-term Debt (net). . . . . . . . . . . . . . Retirement of Cumulative Preferred Stock . . . . . . . . . Retirement of Long-term Debt . . . . . . . . . . . . . . . (5,000) Dividends Paid on Common Stock . . . . . . . . . . . . . . Dividends Paid on Cumulative Preferred Stock . . . . . . . Net Cash Flows From (Used For) Financing Activities. 50 0 5 (5,000) 0 0 0 0 Net Increase (Decrease) in Cash and Cash Equivalents . . . . 15 (22) 1 (119) (141) 1,477 14 0 Cash and Cash Equivalents January 1. . . . . . . . . . . . . 19 482 0 742 161 505 24 1 Cash and Cash Equivalents December 31. . . . . . . . . . . . $34 $460 $1 $623 $20 $1,982 $38 1 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . $8,810 Income Taxes Paid (Received) . . . . . . . . . . . . . . $60 ($27) $0 $2,372 $73 $1,008 Noncash Acquisitions Under Capital Leases. . . . . . . . $25,175 See Note to Consolidating Financial Statements on Page C-1
APPALACHIAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS APCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL APCo OPERATING ACTIVITIES: Net Income (Loss). . . . . . . . . . . . . . . . . . . . . . . . $102,345 8 ($16) $102,361 $102,345 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . 130,694 130,694 128,316 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . 17,355 17,355 19,626 Deferred Investment Tax Credits. . . . . . . . . . . . . . . . (5,492) 11 (1) (5,491) (5,491) Equity in Undistributed Earnings of Affiliated Companies . . . 0 8 16 (16) (16) Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . 7,600 9,11 1,337 6,263 7,525 Fuel, Materials and Supplies . . . . . . . . . . . . . . . . (24,800) 11 1 (24,801) (24,794) Accrued Utility Revenues . . . . . . . . . . . . . . . . . . 6,608 6,608 6,608 Accounts Payable . . . . . . . . . . . . . . . . . . . . . . 25,554 9 (1,335) 26,889 28,129 Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . (17,505) 11 (1) (17,504) (16,254) Other (net). . . . . . . . . . . . . . . . . . . . . . . . . . . (24,357) (24,357) (29,305) Net Cash Flows From (Used For) Operating Activities. . . . 218,002 1 218,001 216,689 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . (230,531) (230,531) (230,527) Proceeds from Sales of Property and Other. . . . . . . . . . . . 948 948 927 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . 0 10 (1,200) 1,200 1,200 Net Cash Flows From (Used For) Investing Activities. . . . (229,583) (1,200) (228,383) (228,400) FINANCING ACTIVITIES: Capital Contributions From (Returned to) Parent. . . . . . . . . 10,000 10 1,200 8,800 10,000 Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . 29,574 29,574 29,574 Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . 70,443 70,443 70,443 Change in Short-term Debt (net). . . . . . . . . . . . . . . . . 83,325 83,325 84,300 Retirement of Cumulative Preferred Stock . . . . . . . . . . . . (152) (152) (152) Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . (58,236) (58,236) (58,236) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . (108,140) (108,140) (108,140) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . (14,562) (14,562) (14,562) Net Cash Flows From (Used For) Financing Activities. . . . 12,252 1,200 11,052 13,227 Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . 671 1 670 1,516 Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . 4,626 (1) 4,627 2,765 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . $5,297 $0 $5,297 $4,281 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . $96,667 $96,667 $96,506 Income Taxes Paid. . . . . . . . . . . . . . . . . . . . . . . $48,872 $48,872 $43,206 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . $22,883 $22,883 $22,883 See Note to Consolidating Financial Statements on Page C-1
APPALACHIAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
CeCCo CACCo KVPCo SACCo WVPCo OPERATING ACTIVITIES: Net Income (Loss). . . . . . . . . . . . . . . . . . . . . . . . . . ($849) ($85) $782 $163 $5 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . . . 913 240 1,225 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . . . (1,680) (414) 128 (305) Deferred Investment Tax Credits. . . . . . . . . . . . . . . . . . Equity in Undistributed Earnings of Affiliated Companies . . . . . Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . . . (1,453) 153 13 26 (1) Fuel, Materials and Supplies . . . . . . . . . . . . . . . . . . (7) Accrued Utility Revenues . . . . . . . . . . . . . . . . . . . . Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . (542) (384) (105) (209) Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . . . (559) (431) (57) (202) (1) Other (net). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,151 765 (82) 113 1 Net Cash Flows From (Used For) Operating Activities. . . . . . (19) (396) 912 811 4 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . . . (4) Proceeds from Sales of Property and Other. . . . . . . . . . . . . . 21 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . . . Net Cash Flows From (Used For) Investing Activities. . . . . . 0 0 (4) 21 0 FINANCING ACTIVITIES: Capital Contributions From (Returned to) Parent. . . . . . . . . . . (1,200) Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . . . Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . . . Change in Short-term Debt (net). . . . . . . . . . . . . . . . . . . (975) Retirement of Cumulative Preferred Stock . . . . . . . . . . . . . . Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . . . Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . . . Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . . . Net Cash Flows From (Used For) Financing Activities. . . . . . 0 0 (975) (1,200) 0 Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . . . (19) (396) (67) (368) 4 Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . . . 341 430 128 755 208 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . . . $322 $34 $61 $387 $212 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . . . $161 Income Taxes Paid. . . . . . . . . . . . . . . . . . . . . . . . . $2,996 $1,013 $473 $1,180 $4 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . . . See Note to Consolidating Financial Statements on Page C-1
COLUMBUS SOUTHERN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS CSPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL CSPCo OPERATING ACTIVITIES: Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . $109,845 12 ($403) $110,248 $109,845 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . 82,795 15 (1) 82,796 82,674 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . (2,132) (2,132) (2,139) Deferred Investment Tax Credits. . . . . . . . . . . . . . . . (3,929) (3,929) (3,924) Equity in Undistributed Earnings of Affiliated Companies . . . 0 12 4 (4) (4) Deferred Operating Expenses and Carrying Charges (net of amortization). . . . . . . . . . . . . . . . 19,156 19,156 19,156 Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . (2,840) 13,15 (86) (2,754) (2,785) Fuel, Materials and Supplies . . . . . . . . . . . . . . . . 5,046 15 (1) 5,047 5,001 Accrued Utility Revenues . . . . . . . . . . . . . . . . . . (2,706) (2,706) (2,706) Accounts Payable . . . . . . . . . . . . . . . . . . . . . . (1,556) 13 133 (1,689) (1,588) Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . (871) 15 1 (872) (789) Other (net). . . . . . . . . . . . . . . . . . . . . . . . . . . (8,264) 13,15 (45) (8,219) (8,341) Net Cash Flows From (Used For) Operating Activities. . . . 194,544 (398) 194,942 194,400 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . (80,973) (80,973) (80,973) Proceeds from Sale of Property and Other . . . . . . . . . . . . 2,606 2,606 2,606 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . 0 14 (300) 300 300 Net Cash Flows Used For Investing Activities . . . . . . . (78,367) (300) (78,067) (78,067) FINANCING ACTIVITIES: Capital Contributions From (Returned to) Parent Company. . . . . 0 14 300 (300) Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . 24,596 24,596 24,596 Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . 198,298 198,298 198,298 Change in Short-term Debt (net). . . . . . . . . . . . . . . . . (25,225) (25,225) (25,225) Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . (225,834) (225,834) (225,834) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . (68,788) 12 399 (69,187) (68,788) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . (11,792) (11,792) (11,792) Net Cash Flows Used For Financing Activities . . . . . . . (108,745) 699 (109,444) (108,745) Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . 7,432 1 7,431 7,588 Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . 6,633 15 (1) 6,634 6,123 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . $14,065 $0 $14,065 $13,711 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . $83,251 $83,251 $83,250 Income Taxes Paid. . . . . . . . . . . . . . . . . . . . . . . $59,218 $59,218 $58,943 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . $14,899 $14,899 $14,852 See Note to Consolidating Financial Statements on Page C-1
COLUMBUS SOUTHERN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
COLM CCPC SIMCo OPERATING ACTIVITIES: Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $186 $70 $147 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . . . 15 107 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . . . 26 (19) Deferred Investment Tax Credits. . . . . . . . . . . . . . . . . . (5) Equity in Undistributed Earnings of Affiliated Companies . . . . . Deferred Operating Expenses and Carrying Charges (net of amortization). . . . . . . . . . . . . . . . . . Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . . . (41) 62 10 Fuel, Materials and Supplies . . . . . . . . . . . . . . . . . . 46 Accrued Utility Revenues . . . . . . . . . . . . . . . . . . . . Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . 56 (195) 38 Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . . . (19) (9) (55) Other (net). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 17 Net Cash Flows From (Used For) Operating Activities. . . . . . 287 32 223 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . . . Proceeds from Sale of Property and Other . . . . . . . . . . . . . . Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . . . Net Cash Flows Used For Investing Activities . . . . . . . . . 0 0 0 FINANCING ACTIVITIES: Capital Contributions From (Returned to) Parent Company. . . . . . . (300) Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . . . Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . . . Change in Short-term Debt (net). . . . . . . . . . . . . . . . . . . Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . . . Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . . . (200) (199) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . . . Net Cash Flows Used For Financing Activities . . . . . . . . . (200) 0 (499) Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . . . 87 32 (276) Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . . . 68 8 435 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . . . $155 $40 $159 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . . . $1 Income Taxes Paid. . . . . . . . . . . . . . . . . . . . . . . . . $81 $46 $148 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . . . $47 See Note to Consolidating Financial Statements on Page C-1
INDIANA MICHIGAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS I&M ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL I&M OPERATING ACTIVITIES: Net Income (Loss). . . . . . . . . . . . . . . . . . . . . . . . $157,471 16 $786 $156,685 $157,471 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . 146,966 146,966 136,604 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . (17,049) (17,049) (15,332) Deferred Investment Tax Credits. . . . . . . . . . . . . . . . (13,877) (13,877) (13,877) Equity in Undistributed Earnings of Affiliated Companies . . . 0 16 (786) 786 786 Deferred Operating Expenses and Carrying Charges (net of amortization). . . . . . . . . . . . . . . . (3,135) (3,135) (3,135) Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . (10,596) 17 (2,169) (8,427) (11,223) Fuel, Materials and Supplies . . . . . . . . . . . . . . . . (3,423) (3,423) (3,423) Accrued Utility Revenues . . . . . . . . . . . . . . . . . . (5,940) (5,940) (5,940) Accounts Payable . . . . . . . . . . . . . . . . . . . . . . 5,219 17 2,172 3,047 3,041 Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . 9,148 9,148 9,490 Other (net). . . . . . . . . . . . . . . . . . . . . . . . . . . (11,444) 17 (3) (11,441) (10,942) Net Cash Flows From Operating Activities . . . . . . . . . 253,340 0 253,340 243,520 INVESTING ACTIVITIES: Construction Expenditures . . . . . . . . . . . . . . . . . . . (118,094) (118,094) (118,094) Proceeds from Sales of Property and Other. . . . . . . . . . . . 2,038 2,038 2,038 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . 0 18 (9,800) 9,800 9,800 Net Cash Flows From (Used For) Investing Activities. . . . (116,056) (9,800) (106,256) (106,256) FINANCING ACTIVITIES: Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . 34,618 34,618 34,618 Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . 89,221 89,221 89,221 Change in Short-term Debt (net). . . . . . . . . . . . . . . . . 525 525 525 Retirement of Cumulative Preferred Stock . . . . . . . . . . . . (35,798) (35,798) (35,798) Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . (101,833) 18 9,800 (111,633) (101,833) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . (106,608) (106,608) (106,608) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . (11,254) (11,254) (11,254) Net Cash Flows Used For Financing Activities . . . . . . . (131,129) 9,800 (140,929) (131,129) Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . 6,155 6,155 6,135 Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . 3,752 3,752 3,727 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . $9,907 $0 $9,907 $9,862 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . $68,946 $68,946 $68,946 Income Taxes Paid (Received) . . . . . . . . . . . . . . . . . $85,854 $85,854 $81,657 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . $92,199 $92,199 $92,199 See Note to Consolidating Financial Statements on Page C-1
INDIANA MICHIGAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
BHCCo PRCCo OPERATING ACTIVITIES: Net Income (Loss). . . . . . . . . . . . . . . . . . . . . . . . . . ($786) Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . . . 10,362 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . . . (1,717) Deferred Investment Tax Credits. . . . . . . . . . . . . . . . . . Equity in Undistributed Earnings of Affiliated Companies . . . . . Deferred Operating Expenses and Carrying Charges (net of amortization). . . . . . . . . . . . . . . . . . Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . . . 2,799 (3) Fuel, Materials and Supplies . . . . . . . . . . . . . . . . . . Accrued Utility Revenues . . . . . . . . . . . . . . . . . . . . Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . 6 Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . . . (345) 3 Other (net). . . . . . . . . . . . . . . . . . . . . . . . . . . . . (499) Net Cash Flows From Operating Activities . . . . . . . . . . . 9,820 0 INVESTING ACTIVITIES: Construction Expenditures . . . . . . . . . . . . . . . . . . . . . Proceeds from Sales of Property and Other. . . . . . . . . . . . . . Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . . . Net Cash Flows From (Used For) Investing Activities. . . . . . 0 0 FINANCING ACTIVITIES: Issuance of Cumulative Preferred Stock . . . . . . . . . . . . . . . Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . . . Change in Short-term Debt (net). . . . . . . . . . . . . . . . . . . Retirement of Cumulative Preferred Stock . . . . . . . . . . . . . . Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . . . (9,800) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . . . Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . . . Net Cash Flows Used For Financing Activities . . . . . . . . . (9,800) 0 Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . . . 20 Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . . . 25 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . . . $45 $0 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . . . Income Taxes Paid (Received) . . . . . . . . . . . . . . . . . . . $4,201 ($4) Noncash Acquisitions Under Capital Leases. . . . . . . . . . . . . See Note to Consolidating Financial Statements on Page C-1
OHIO POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
JOURNAL ELIMINATIONS OPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL OPCo OPERATING ACTIVITIES: Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . $162,626 19 ($14,387) $177,013 $162,626 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . 147,347 147,347 132,537 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . (9,471) (9,471) 8,054 Deferred Investment Tax Credits. . . . . . . . . . . . . . . . (3,630) (3,630) (3,630) Equity in Undistributed Earnings of Affiliated Companies . . . 0 19 684 (684) (684) Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . 21,513 20,22 6,429 15,084 14,855 Fuel, Materials and Supplies . . . . . . . . . . . . . . . . 31,474 22 2 31,472 24,654 Accrued Utility Revenues . . . . . . . . . . . . . . . . . . 3,459 3,459 3,459 Accounts Payable . . . . . . . . . . . . . . . . . . . . . . (17,657) 20 (6,641) (11,016) (14,331) Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . (11,570) (11,570) (12,299) Other (net). . . . . . . . . . . . . . . . . . . . . . . . . . . (26,530) 20,22 210 (26,740) (35,782) Net Cash Flows From (Used for) Operating Activities. . . . 297,561 (13,703) 311,264 279,459 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . (151,255) 22 (1) (151,254) (147,980) Proceeds from Sales of Property and Other. . . . . . . . . . . . 46,202 22 (1) 46,203 43,922 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . 0 21 (3,300) 3,300 3,300 Net Cash Flows From (Used for) Investing Activities. . . . (105,053) (3,302) (101,751) (100,758) FINANCING ACTIVITIES: Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . 48,906 22 1 48,905 Change in Short-term Debt (net). . . . . . . . . . . . . . . . . (23,015) 22 2 (23,017) (20,850) Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . (54,733) 21 3,300 (58,033) (4,230) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . (138,468) 19 13,703 (152,171) (138,468) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . (15,301) (15,301) (15,301) Net Cash Flows From (Used For) Financing Activities. . . . (182,611) 17,006 (199,617) (178,849) Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . 9,897 1 9,896 (148) Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . 20,803 20,803 4,435 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . $30,700 $1 $30,699 $4,287 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . $85,496 23 ($196) $85,692 $79,968 Income Taxes Paid. . . . . . . . . . . . . . . . . . . . . . . $107,514 $107,514 $82,385 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . $65,008 22 1 $65,007 $43,489 See Note to Consolidating Financial Statements on Page C-1
OHIO POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 1994 (in thousands)
COCCo SOCCo WCCo OPERATING ACTIVITIES: Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,656 $10,368 $1,363 Adjustments for Noncash Items: Depreciation and Amortization. . . . . . . . . . . . . . . . . . . 1,802 11,595 1,413 Deferred Federal Income Taxes. . . . . . . . . . . . . . . . . . . (9,937) (6,174) (1,414) Deferred Investment Tax Credits. . . . . . . . . . . . . . . . . . Equity in Undistributed Earnings of Affiliated Companies . . . . . Changes in Certain Current Assets and Liabilities: Accounts Receivable (net). . . . . . . . . . . . . . . . . . . . 1,583 (4,178) 2,824 Fuel, Materials and Supplies . . . . . . . . . . . . . . . . . . 5,989 1,043 (214) Accrued Utility Revenues . . . . . . . . . . . . . . . . . . . . Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . (490) 4,080 (275) Taxes Accrued. . . . . . . . . . . . . . . . . . . . . . . . . . 712 268 (251) Other (net). . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,377) 11,231 3,188 Net Cash Flows From (Used for) Operating Activities. . . . . . (3,062) 28,233 6,634 INVESTING ACTIVITIES: Construction Expenditures. . . . . . . . . . . . . . . . . . . . . . (1,053) (1,733) (488) Proceeds from Sales of Property and Other. . . . . . . . . . . . . . 546 1,732 3 Investment in Subsidiaries . . . . . . . . . . . . . . . . . . . . . Net Cash Flows From (Used for) Investing Activities. . . . . . (507) (1) (485) FINANCING ACTIVITIES: Issuance of Long-term Debt . . . . . . . . . . . . . . . . . . . . . 604 45,000 3,301 Change in Short-term Debt (net). . . . . . . . . . . . . . . . . . . 18 (2,185) Retirement of Long-term Debt . . . . . . . . . . . . . . . . . . . . (25) (45,000) (8,778) Dividends Paid on Common Stock . . . . . . . . . . . . . . . . . . . (2,655) (10,368) (680) Dividends Paid on Cumulative Preferred Stock . . . . . . . . . . . . Net Cash Flows From (Used For) Financing Activities. . . . . . (2,058) (10,368) (8,342) Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . . . (5,627) 17,864 (2,193) Cash and Cash Equivalents January 1. . . . . . . . . . . . . . . . . . 11,652 2,505 2,211 Cash and Cash Equivalents December 31. . . . . . . . . . . . . . . . . $6,025 $20,369 $18 Supplemental Disclosure: Interest Paid (net of capitalized amounts) . . . . . . . . . . . . $57 $5,401 $266 Income Taxes Paid. . . . . . . . . . . . . . . . . . . . . . . . . $10,167 $11,830 $3,132 Noncash Acquisitions Under Capital Leases. . . . . . . . . . . . . $7,276 $13,660 $582 See Note to Consolidating Financial Statements on Page C-1
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
JOURNAL ELIMINATIONS AEP ENTRY AND COMBINED APCO CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP CONSOLIDATED ------------ ------- ------------ -------- ---------- ------------ Retained Earnings January 1 . . . . . . . . . . $1,269,283 ($997,579) $2,266,862 $1,269,283 $227,816 Net Income. . . . . . . . . . . . . . . . . . . 500,012 A (562,074) $1,062,086 500,012 102,345 1,769,295 (1,559,653) $3,328,948 1,769,295 330,161 Deductions: Cash Dividends Declared on Common Stock: American Electric Power Company, Inc. ($2.40 per Share) . . . . . . . . . . . . . 443,101 $443,101 443,101 Subsidiary Companies. . . . . . . . . . . . 0 B (454,733) $454,733 108,140 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . 0 B (54,101) $54,101 14,920 Other . . . . . . . . . . . . . . . . . . . . 613 C (1,207) $1,820 613 740 Retained Earnings December 31 . . . . . . . . . $1,325,581 C ($1,049,612) $2,375,193 $1,325,581 $206,361 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
JOURNAL ELIMINATIONS AEP ENTRY AND COMBINED APCO CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL AEP CONSOLIDATED ------------ ------- ------------ -------- ---------- ------------ Retained Earnings January 1 . . . . . . . . . . $1,269,283 ($997,579) $2,266,862 $1,269,283 $227,816 Net Income. . . . . . . . . . . . . . . . . . . 500,012 A (562,074) $1,062,086 500,012 102,345 1,769,295 (1,559,653) $3,328,948 1,769,295 330,161 Deductions: Cash Dividends Declared on Common Stock: American Electric Power Company, Inc. ($2.40 per Share) . . . . . . . . . . . . . 443,101 $443,101 443,101 Subsidiary Companies. . . . . . . . . . . . 0 B (454,733) $454,733 108,140 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . 0 B (54,101) $54,101 14,920 Other . . . . . . . . . . . . . . . . . . . . 613 C (1,207) $1,820 613 740 Retained Earnings December 31 . . . . . . . . . $1,325,581 C ($1,049,612) $2,375,193 $1,325,581 $206,361 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
CSPCo I&M OPCo CONSOLIDATED CONSOLIDATED KEPCo KGPCo CONSOLIDATED WPCo ------------ ------------ -------- -------- ------------ ------- Retained Earnings January 1 . . . . . . . . . . $18,288 $177,638 $85,296 $5,419 $474,500 $7,421 Net Income. . . . . . . . . . . . . . . . . . . 109,845 157,471 25,273 3,147 162,626 1,063 128,133 335,109 110,569 8,566 637,126 8,484 Deductions: Cash Dividends Declared on Common Stock: American Electric Power Company, Inc. ($2.40 per Share) . . . . . . . . . . . . . Subsidiary Companies. . . . . . . . . . . . 68,788 106,608 21,396 1,684 138,468 2,468 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . 12,230 11,650 15,301 Other . . . . . . . . . . . . . . . . . . . . 139 193 135 Retained Earnings December 31 . . . . . . . . . $46,976 $216,658 $89,173 $6,882 $483,222 $6,016 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
AEPENS AEGCo AEPINV AEPRES AEPRI AEPSC CCCo COpCo FRECo IFRI -------- -------- -------- -------- ----- ----- ------ ------- ------ ------ Retained Earnings January 1 . . . . . . . . . . ($301) $1,339 ($23) ($5) $171 $20 Net Income. . . . . . . . . . . . . . . . . . . (1,562) 10,110 (8,187) (54) ($4) 1 (1,863) 11,449 (8,210) (59) (4) 0 0 172 20 0 Deductions: Cash Dividends Declared on Common Stock: American Electric Power Company, Inc. ($2.40 per Share) . . . . . . . . . . . . . Subsidiary Companies. . . . . . . . . . . . 7,181 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . Retained Earnings December 31 . . . . . . . . . ($1,863) $4,268 ($8,210) ($59) ($4) $0 $0 $172 $20 $0 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
APPALACHIAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
JOURNAL ELIMINATIONS APCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL APCo ------------ ------- ------------ -------- ---------- Retained Earnings January 1 . . . . . . . . . . $227,816 ($1,324) $229,140 $227,816 Net Income. . . . . . . . . . . . . . . . . . . 102,345 A (16) 102,361 102,345 330,161 (1,340) 331,501 330,161 Deductions: Cash Dividends Declared on Common Stock . . . 108,140 B 108,140 108,140 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . 14,920 14,920 14,920 Other . . . . . . . . . . . . . . . . . . . . 740 740 740 Retained Earnings December 31 . . . . . . . . . $206,361 C ($1,340) $207,701 $206,361 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
APPALACHIAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
CeCCo CACCo KVPCo SACCo WVPCo --------- -------- -------- ------- -------- Retained Earnings January 1 . . . . . . . . . . ($2,322) ($277) $3,063 $836 $24 Net Income. . . . . . . . . . . . . . . . . . . (849) (85) 782 163 5 (3,171) (362) 3,845 999 29 Deductions: Cash Dividends Declared on Common Stock . . . Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . Retained Earnings December 31 . . . . . . . . . ($3,171) ($362) $3,845 $999 $29 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
COLUMBUS SOUTHERN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
JOURNAL ELIMINATIONS CSPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL CSPCo ------------ ------- ------------ -------- ---------- Retained Earnings January 1 . . . . . . . . . . $18,288 ($2,225) $20,513 $18,288 Net Income. . . . . . . . . . . . . . . . . . . 109,845 A (403) 110,248 109,845 128,133 (2,628) 130,761 128,133 Deductions: Cash Dividends Declared on Common Stock . . . 68,788 B (399) 69,187 68,788 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . 12,230 12,230 12,230 Other . . . . . . . . . . . . . . . . . . . . 139 139 139 Retained Earnings December 31 . . . . . . . . . $46,976 C ($2,229) $49,205 $46,976 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
COLUMBUS SOUTHERN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
COLM CCPC SIMCo --------- -------- -------- Retained Earnings January 1 . . . . . . . . . . $1,472 $540 $213 Net Income. . . . . . . . . . . . . . . . . . . 186 70 147 1,658 610 360 Deductions: Cash Dividends Declared on Common Stock . . . 200 199 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . Retained Earnings December 31 . . . . . . . . . $1,458 $610 $161 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
INDIANA MICHIGAN POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
JOURNAL ELIMINATIONS I&M ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL I&M BHCCo PRCCo ------------ ------- ------------ -------- ---------- --------- - -------- Retained Earnings January 1 . . . . . . . . $177,638 ($10,574) $188,212 $177,638 $10,574 $0 Net Income. . . . . . . . . . . . . . . . . 157,471 A 786 156,685 157,471 (786) 335,109 (9,788) 344,897 335,109 9,788 0 Deductions: Cash Dividends Declared on Common Stock . 106,608 B 0 106,608 106,608 0 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . 11,650 11,650 11,650 Other . . . . . . . . . . . . . . . . . . 193 193 193 Retained Earnings December 31 . . . . . . . $216,658 C ($9,788) $226,446 $216,658 $9,788 $0 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
OHIO POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
JOURNAL ELIMINATIONS OPCo ENTRY AND COMBINED CONSOLIDATED NUMBERS ADJUSTMENTS TOTAL OPCo ------------ ------- ------------ -------- ---------- Retained Earnings January 1 . . . . . . . . . . $474,500 ($34,072) $508,572 $474,500 Net Income. . . . . . . . . . . . . . . . . . . 162,626 A (14,387) 177,013 162,626 637,126 (48,459) 685,585 637,126 Deductions: Cash Dividends Declared on Common Stock . . . 138,468 B (13,703) 152,171 138,468 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . 15,301 15,301 15,301 Other . . . . . . . . . . . . . . . . . . . . 135 135 135 Retained Earnings December 31 . . . . . . . . . $483,222 C ($34,756) $517,978 $483,222 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
OHIO POWER COMPANY, INC. AND SUBSIDIARY COMPANIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands)
COCCo SOCCo WCCo --------- -------- -------- Retained Earnings January 1 . . . . . . . . . . $347 $33,025 $700 Net Income. . . . . . . . . . . . . . . . . . . 2,656 10,368 1,363 3,003 43,393 2,063 Deductions: Cash Dividends Declared on Common Stock . . . 2,655 10,368 680 Cash Dividends Declared on Cumulative Preferred Stocks. . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . Retained Earnings December 31 . . . . . . . . . $348 $33,025 $1,383 See Note to Consolidating Financial Statements on Page C-1. A See Consolidating Statement of Income. B See Consolidating Statement of Cash Flows. C See Consolidating Balance Sheet.
Note to Consolidating Financial Statements. Notes to financial statements are incorporated herein by reference to the 1994 Annual Report on Form 10-K filed by the respective companies reporting to the Securities and Exchange Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. C-1 CARDINAL OPERATING COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands) OPERATING EXPENSES: Fuel. . . . . . . . . . . . . . . . . . . . . . . . . $160,825 Other Operation . . . . . . . . . . . . . . . . . . . 12,255 Maintenance . . . . . . . . . . . . . . . . . . . . . 20,740 Taxes Other Than Federal Income Taxes . . . . . . . . 1,041 TOTAL OPERATING EXPENSES. . . . . . . . . . . $194,861 REIMBURSED BY: Ohio Power Company. . . . . . . . . . . . . . . . . . $ 88,471 Buckeye Power, Inc. . . . . . . . . . . . . . . . . . 106,390 TOTAL . . . . . . . . . . . . . . . . . . . . $194,861 RETAINED EARNINGS . . . . . . . . . . . . . . . . . . . None D-1 CARDINAL OPERATING COMPANY BALANCE SHEET DECEMBER 31, 1994 (in thousands) ASSETS INVESTMENTS . . . . . . . . . . . . . . . . . . . . . . $ 3 CURRENT ASSETS: Cash and Cash Equivalents . . . . . . . . . . . . . . 23 Accounts Receivable: Affiliated Companies. . . . . . . . . . . . . . . . 22,194 Miscellaneous . . . . . . . . . . . . . . . . . . . 34 Other . . . . . . . . . . . . . . . . . . . . . . . . 114 TOTAL CURRENT ASSETS. . . . . . . . . . . . . 22,365 DEFERRED CHARGES: Other Work in Progress. . . . . . . . . . . . . . . . 1,592 Other . . . . . . . . . . . . . . . . . . . . . . . . 957 TOTAL DEFERRED CHARGES. . . . . . . . . . . . 2,549 TOTAL . . . . . . . . . . . . . . . . . . . $24,917 CAPITALIZATION AND LIABILITIES CAPITALIZATION: Common Stock - Par Value $1: Authorized - 500 Shares Outstanding - 500 Shares. . . . . . . . . . . . . . $ 1 Advances from Affiliated Companies. . . . . . . . . . 400 TOTAL CAPITALIZATION. . . . . . . . . . . . . 401 CURRENT LIABILITIES: Accounts Payable: General . . . . . . . . . . . . . . . . . . . . . . 14,243 Affiliated Companies. . . . . . . . . . . . . . . . 8,185 Other . . . . . . . . . . . . . . . . . . . . . . . . 2,087 TOTAL CURRENT LIABILITIES . . . . . . . . . . 24,515 DEFERRED CREDITS. . . . . . . . . . . . . . . . . . . . 1 TOTAL . . . . . . . . . . . . . . . . . . . $24,917 D-2 INDIANA-KENTUCKY ELECTRIC CORPORATION STATEMENT OF INCOME AND RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands) OPERATING REVENUES. . . . . . . . . . . . . . . . . . . $131,177 OPERATING EXPENSES: Fuel. . . . . . . . . . . . . . . . . . . . . . . . . 93,279 Other Operation . . . . . . . . . . . . . . . . . . . 16,095 Maintenance . . . . . . . . . . . . . . . . . . . . . 18,012 Taxes Other Than Federal Income Taxes . . . . . . . . 3,846 TOTAL OPERATING EXPENSES. . . . . . . . . . . 131,232 OPERATING LOSS. . . . . . . . . . . . . . . . . . . . . (55) NONOPERATING INCOME . . . . . . . . . . . . . . . . . . 69 INCOME BEFORE INTEREST CHARGES. . . . . . . . . . . . . 14 INTEREST CHARGES. . . . . . . . . . . . . . . . . . . . 14 NET INCOME AND RETAINED EARNINGS. . . . . . . . . . . . None D-3 INDIANA-KENTUCKY ELECTRIC CORPORATION BALANCE SHEET DECEMBER 31, 1994 (in thousands) ASSETS ELECTRIC UTILITY PLANT: Electric Plant (at cost). . . . . . . . . . . . . . . $370,150 Construction Work in Progress . . . . . . . . . . . . 10,273 Total Electric Utility Plant. . . . . . . . . 380,423 Accumulated Depreciation and Amortization . . . . . . 303,712 NET ELECTRIC UTILITY PLANT. . . . . . . . . . 76,711 CURRENT ASSETS: Cash and Cash Equivalents . . . . . . . . . . . . . . 161 Accounts Receivable . . . . . . . . . . . . . . . . . 5,018 Coal in Storage - at average cost . . . . . . . . . . 13,369 Materials and Supplies - at average cost. . . . . . . 8,245 Prepayments and Other . . . . . . . . . . . . . . . . 402 TOTAL CURRENT ASSETS. . . . . . . . . . . . . 27,195 DEFERRED CHARGES: Future Federal Income Tax Benefits. . . . . . . . . . 46,318 Other . . . . . . . . . . . . . . . . . . . . . . . . 9 TOTAL DEFERRED CHARGES. . . . . . . . . . . . 46,327 TOTAL . . . . . . . . . . . . . . . . . . . $150,233 CAPITALIZATION AND LIABILITIES CAPITALIZATION: Common Stock, No Par Value Authorized - 100,000 Shares Outstanding - 17,000 Shares . . . . . . . . . . . . $ 3,400 CURRENT LIABILITIES: Accounts Payable. . . . . . . . . . . . . . . . . . . 10,431 Taxes Accrued . . . . . . . . . . . . . . . . . . . . 2,416 Interest Accrued and Other. . . . . . . . . . . . . . 242 TOTAL CURRENT LIABILITIES . . . . . . . . . . 13,089 AMOUNTS DUE TO CUSTOMERS FOR FEDERAL INCOME TAXES . . . 46,318 ADVANCES FROM PARENT COMPANY FOR CONSTRUCTION . . . . . 78,825 DEFERRED CREDITS. . . . . . . . . . . . . . . . . . . . 8,601 TOTAL . . . . . . . . . . . . . . . . . . . $150,233 D-4 INDIANA-KENTUCKY ELECTRIC CORPORATION STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 1994 (in thousands) OPERATING ACTIVITIES: Net Income. . . . . . . . . . . . . . . . . . . . . . $ - Adjustments for Noncash Items: Changes in Certain Current Assets and Liabilities: Accounts Receivable . . . . . . . . . . . . . . . (339) Coal, Materials and Supplies. . . . . . . . . . . (5,974) Accounts Payable. . . . . . . . . . . . . . . . . 664 Other (net) . . . . . . . . . . . . . . . . . . . . (13) Net Cash Flows Used For Operating Activities . . (5,662) INVESTING ACTIVITIES: Construction Expenditures . . . . . . . . . . . . . . (34,195) Reimbursement for Plant Replacements and Additional Facilities. . . . . . . . . . . . . . . . 3,038 Advances from Parent. . . . . . . . . . . . . . . . . 36,198 Net Cash Flows From Investing Activities . . . . 5,041 Net Decrease in Cash and Cash Equivalents . . . . . . (621) Cash and Cash Equivalents January 1 . . . . . . . . . 782 Cash and Cash Equivalents December 31 . . . . . . . . $ 161 Supplemental Disclosure: Interest Paid (net of capitalized amounts). . . . . . $14 D-5 OHIO VALLEY ELECTRIC CORPORATION STATEMENT OF INCOME YEAR ENDED DECEMBER 31, 1994 (in thousands) OPERATING REVENUES. . . . . . . . . . . . . . . . . . . $309,064 OPERATING EXPENSES: Fuel. . . . . . . . . . . . . . . . . . . . . . . . . 120,572 Purchased Power . . . . . . . . . . . . . . . . . . . 136,563 Other Operation . . . . . . . . . . . . . . . . . . . 18,491 Maintenance . . . . . . . . . . . . . . . . . . . . . 19,915 Taxes Other Than Federal Income Taxes . . . . . . . . 4,903 Federal Income Taxes. . . . . . . . . . . . . . . . . 2,041 TOTAL OPERATING EXPENSES. . . . . . . . . . . 302,485 OPERATING INCOME. . . . . . . . . . . . . . . . . . . . 6,579 NONOPERATING INCOME . . . . . . . . . . . . . . . . . . 1,589 INCOME BEFORE INTEREST CHARGES. . . . . . . . . . . . . 8,168 INTEREST CHARGES. . . . . . . . . . . . . . . . . . . . 6,067 NET INCOME. . . . . . . . . . . . . . . . . . . . . . . $ 2,101 OHIO VALLEY ELECTRIC CORPORATION STATEMENT OF RETAINED EARNINGS YEAR ENDED DECEMBER 31, 1994 (in thousands) RETAINED EARNINGS JANUARY 1 . . . . . . . . . . . . . . $ 378 NET INCOME. . . . . . . . . . . . . . . . . . . . . . . 2,101 CASH DIVIDENDS DECLARED . . . . . . . . . . . . . . . . 1,540 RETAINED EARNINGS DECEMBER 31 . . . . . . . . . . . . . $ 939 D-6 OHIO VALLEY ELECTRIC CORPORATION BALANCE SHEET DECEMBER 31, 1994 (in thousands) ASSETS ELECTRIC UTILITY PLANT: Electric Plant (at cost). . . . . . . . . . . . . . . $266,827 Construction Work in Progress . . . . . . . . . . . . 1,719 Total Electric Utility Plant. . . . . . . . . 268,546 Accumulated Depreciation and Amortization . . . . . . 263,215 NET ELECTRIC UTILITY PLANT. . . . . . . . . . 5,331 INVESTMENTS AND OTHER . . . . . . . . . . . . . . . . . 94,782 CURRENT ASSETS: Cash and Cash Equivalents . . . . . . . . . . . . . . 10,646 Accounts Receivable . . . . . . . . . . . . . . . . . 12,580 Coal in Storage - at average cost . . . . . . . . . . 19,031 Materials and Supplies - at average cost. . . . . . . 11,121 Refundable Federal Income Taxes . . . . . . . . . . . 1,545 Prepayments and Other . . . . . . . . . . . . . . . . 3,930 TOTAL CURRENT ASSETS. . . . . . . . . . . . . 58,853 REGULATORY ASSETS . . . . . . . . . . . . . . . . . . . 50,967 DEFERRED CHARGES. . . . . . . . . . . . . . . . . . . . 1,528 TOTAL . . . . . . . . . . . . . . . . . . . $211,461 D-7 OHIO VALLEY ELECTRIC CORPORATION BALANCE SHEET DECEMBER 31, 1994 (in thousands) CAPITALIZATION AND LIABILITIES SHAREOWNERS' EQUITY: Common Stock - Par Value $100: Authorized - 300,000 Shares Outstanding - 100,000 Shares. . . . . . . . . . . . $ 10,000 Retained Earnings . . . . . . . . . . . . . . . . . . 939 Total Shareowners' Equity . . . . . . . . . . 10,939 Long-term Debt - Notes Payable. . . . . . . . . . . . 80,000 TOTAL CAPITALIZATION. . . . . . . . . . . . . 90,939 CURRENT LIABILITIES: Long-term Debt Due Within One Year - Notes Payable. . 9,500 Short-term Debt - Note Payable. . . . . . . . . . . . 22,500 Accounts Payable. . . . . . . . . . . . . . . . . . . 15,370 Taxes Accrued . . . . . . . . . . . . . . . . . . . . 7,339 Interest Accrued and Other. . . . . . . . . . . . . . 533 TOTAL CURRENT LIABILITIES . . . . . . . . . . 55,242 INVESTMENT TAX CREDITS. . . . . . . . . . . . . . . . . 10,610 POSTRETIREMENT BENEFIT OBLIGATION . . . . . . . . . . . 31,474 AMOUNTS DUE TO CUSTOMERS FOR FEDERAL INCOME TAXES . . . 10,423 REGULATORY LIABILITIES AND DEFERRED CREDITS . . . . . . 12,773 TOTAL . . . . . . . . . . . . . . . . . . . $211,461 D-8 OHIO VALLEY ELECTRIC CORPORATION STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 1994 (in thousands) OPERATING ACTIVITIES: Net Income. . . . . . . . . . . . . . . . . . . . . . $ 2,101 Adjustments for Noncash Items: Future Federal Income Tax Benefits. . . . . . . . . 1,559 Changes in Certain Current Assets and Liabilities: Accounts Receivable . . . . . . . . . . . . . . . (1,617) Coal, Materials and Supplies. . . . . . . . . . . (9,209) Accounts Payable. . . . . . . . . . . . . . . . . 4,447 Other (net) . . . . . . . . . . . . . . . . . . . . (390) Net Cash Flows Used For Operating Activities . . (3,109) INVESTING ACTIVITIES: Construction Expenditures . . . . . . . . . . . . . . (1,456) Reimbursement for Plant Replacements and Additional Facilities. . . . . . . . . . . . . . . . 1,965 Advances in Subsidiary. . . . . . . . . . . . . . . . (36,198) Net Cash Flows Used For Investing Activities . . (35,689) FINANCING ACTIVITIES: Special Funds Held by Trustees. . . . . . . . . . . . 35,046 Retirement of Long-term Debt. . . . . . . . . . . . . (500) Change in Short-term Debt (net) . . . . . . . . . . . 12,500 Change in Coal Purchase Obligation. . . . . . . . . . (2,960) Dividends Paid. . . . . . . . . . . . . . . . . . . . (1,540) Net Cash Flows From Financing Activities . . . . 42,546 Net Increase in Cash and Cash Equivalents . . . . . . 3,748 Cash and Cash Equivalents January 1 . . . . . . . . . 6,898 Cash and Cash Equivalents December 31 . . . . . . . . $ 10,646 Supplemental Disclosure: Interest Paid (net of capitalized amounts). . . . . . $5,879 Income Taxes Paid . . . . . . . . . . . . . . . . . . $781 D-9 Exhibit A Incorporation By Reference Form 10K Annual Report Year File Number AEP 1994 1-3525 AEGCo 1994 0-18135 APCo 1994 1-3457 CSPCo 1994 1-2680 I&M 1994 1-3570 KEPCo 1994 1-6858 OPCo 1994 1-6543 E SIGNATURE The undersigned system company has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized, pursuant to the requirements of the Public Utility Holding Company Act of 1935. AMERICAN ELECTRIC POWER COMPANY, INC. By G. P. MALONEY G. P. Maloney Vice President April 28, 1995 Exhibit B & C The following exhibits have been filed with the Commission and, pursuant to 17 C.F.R. 201.24 and 240.12b-32, are incorporated herein by reference to the documents indicated in brackets following the descriptions of such exhibits. Certain of the following exhibits, designated with an asterisk (*), were filed with the Form 10-K Annual Report for 1994 and are also incorporated by reference. AEGCO EXHIBIT NUMBER DESCRIPTION ------- ----------- 3(a) -- Copy of Articles of Incorporation of AEGCo [Registration Statement on Form 10 for the Common Shares of AEGCo, File No. 0-18135, Exhibit 3(a)]. 3(b) -- Copy of the Code of Regulations of AEGCo [Registration Statement on Form 10 for the Common Shares of AEGCo, File No. 0-18135, Exhibit 3(b)]. 10(a) -- Copy of Capital Funds Agreement dated as of December 30, 1988 between AEGCo and AEP [Registration Statement No. 33-32752, Exhibit 28(a)]. 10(b)(1) -- Copy of Unit Power Agreement dated as of March 31, 1982 between AEGCo and I&M, as amended [Registration Statement No. 33-32752, Exhibits 28(b)(1)(A) and 28(b)(1)(B)]. 10(b)(2) -- Copy of Unit Power Agreement, dated as of August 1, 1984, among AEGCo, I&M and KEPCo [Registration Statement No. 33-32752, Exhibit 28(b)(2)]. 10(b)(3) -- Copy of Agreement, dated as of October 1, 1984, among AEGCo, I&M, APCo and Virginia Electric and Power Company [Registration Statement No. 33-32752, Exhibit 28(b)(3)]. 10(c) -- Copy of Lease Agreements, dated as of December 1, 1989, between AEGCo and Wilmington Trust Company, as amended [Registration Statement No. 33-32752, Exhibits 28(c)(1)(C), 28(c)(2)(C), 28(c)(3)(C), 28(c)(4)(C), 28(c)(5)(C) and 28(c)(6)(C); Annual Report on Form 10-K of AEGCo for the fiscal year ended December 31, 1993, File No. 0-18135, Exhibits 10(c)(1)(B), 10(c)(2)(B), 10(c)(3)(B), 10(c)(4)(B), 10(c)(5)(B) and 10(c)(6)(B)]. *13 -- Copy of those portions of the AEGCo 1994 Annual Report (for the fiscal year ended December 31, 1994) which are incorporated by reference in this filing. *24 -- Power of Attorney. *27 -- Financial Data Schedules. AEP++ 3(a) -- Copy of Restated Certificate of Incorporation of AEP, dated April 26, 1978 [Registration Statement No. 2- 62778, Exhibit 2(a)]. 3(b)(1) -- Copy of Certificate of Amendment of the Restated Certificate of Incorporation of AEP, dated April 23, 1980 [Registration Statement No. 33-1052, Exhibit 4(b)]. 3(b)(2) -- Copy of Certificate of Amendment of the Restated Certificate of Incorporation of AEP, dated April 28, 1982 [Registration Statement No. 33-1052, Exhibit 4(c)]. 3(b)(3) -- Copy of Certificate of Amendment of the Restated Certificate of Incorporation of AEP, dated April 25, 1984 [Registration Statement No. 33-1052, Exhibit 4(d)]. 3(b)(4) -- Copy of Certificate of Change of the Restated Certificate of Incorporation of AEP, dated July 5, 1984 [Registration Statement No. 33-1052, Exhibit 4(e)]. 3(b)(5) -- Copy of Certificate of Amendment of the Restated Certificate of Incorporation of AEP, dated April 27, 1988 [Registration Statement No. 33-1052, Exhibit 4(f)]. 3(c) -- Composite copy of the Restated Certificate of Incorporation of AEP, as amended [Registration Statement No. 33-1052, Exhibit 4(g)]. 3(d) -- Copy of By-Laws of AEP, as amended through July 26, 1989 [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1989, File No. 1-3525, Exhibit 3(d)]. 10(a) -- Interconnection Agreement, dated July 6, 1951, among APCo, CSPCo, KEPCo, OPCo and I&M and with the Service Corporation, as amended [Registration Statement No. 2- 52910, Exhibit 5(a); Registration Statement No. 2- 61009, Exhibit 5(b); and Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1990, File No. 1-3525, Exhibit 10(a)(3)]. 10(b) -- Copy of Transmission Agreement, dated April 1, 1984, among APCo, CSPCo, I&M, KEPCo, OPCo and with the Service Corporation as agent, as amended [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(b); and Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1988, File No. 1-3525, Exhibit 10(b)(2)]. +10(c)(1) -- AEP Deferred Compensation Agreement for certain executive officers [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(e)]. +10(c)(2) -- Amendment to AEP Deferred Compensation Agreement for certain executive officers [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1986, File No. 1-3525, Exhibit 10(d)(2)]. +10(d) -- AEP Deferred Compensation Agreement for directors, as amended, effective October 24, 1984 [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1984, File No. 1-3525, Exhibit 10(e)]. +10(e) -- AEP Accident Coverage Insurance Plan for directors [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(g)]. +10(f) -- AEP Retirement Plan for directors [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1986, File No. 1-3525, Exhibit 10(g)]. +10(g)(1)(A) -- Excess Benefits Plan [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(1)(A)]. +10(g)(1)(B) -- Guaranty by AEP of the Service Corporation Excess Benefits Plan [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1990, File No. 1- 3525, Exhibit 10(h)(1)(B)]. +10(g)(2) -- AEP System Supplemental Savings Plan (Non-Qualified) [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(2)]. +10(g)(3) -- Service Corporation Umbrella Trust TM for Executives [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(3)]. +10(h)(1) -- Employment Agreement between E. Linn Draper, Jr. and AEP and the Service Corporation [Annual Report on Form 10-K of AEGCo for the fiscal year ended December 31, 1991, File No. 0-18135, Exhibit 10(g)(3)]. *+10(i)(1) -- AEP Management Incentive Compensation Plan. *+10(i)(2) -- American Electric Power System Performance Share Incentive Plan, as Amended and Restated through January 1, 1995. 10(j) -- Copy of Lease Agreements, dated as of December 1, 1989, between AEGCo or I&M and Wilmington Trust Company, as amended [Registration Statement No. 33-32752, Exhibits 28(c)(1)(C), 28(c)(2)(C), 28(c)(3)(C), 28(c)(4)(C), 28(c)(5)(C) and 28(c)(6)(C); Registration Statement No. 33-32753, Exhibits 28(a)(1)(C), 28(a)(2)(C), 28(a)(3)(C), 28(a)(4)(C), 28(a)(5)(C) and 28(a)(6)(C); and Annual Report on Form 10-K of AEGCo for the fiscal year ended December 31, 1993, File No. 0-18135, Exhibits 10(c)(1)(B), 10(c)(2)(B), 10(c)(3)(B), 10(c)(4)(B), 10(c)(5)(B) and 10(c)(6)(B); Annual Report on Form 10-K of I&M for the fiscal year ended December 31, 1993, File No. 1-3570, Exhibits 10(e)(1)(B), 10(e)(2)(B), 10(e)(3)(B), 10(e)(4)(B), 10(e)(5)(B) and 10(e)(6)(B)]. 10(k)(1) -- Copy of Agreement for Lease, dated as of September 17, 1992, between JMG Funding, Limited Partnership and OPCo [Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1992, File No. 1-6543, Exhibit 10(l)]. 10(k)(2) -- Lease Agreement between Ohio Power Company and JMG Funding, Limited, dated January 20, 1995 [Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1994, File No. 1-6543, Exhibit 10(l)(2)]. 10(l) -- Interim Allowance Agreement, dated July 28, 1994, among APCo, CSPCo, I&M, KEPCo, OPCo and the Service Corporation [Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1994, File No. 1-3457, Exhibit 10(d)]. *13 -- Copy of those portions of the AEP 1994 Annual Report (for the fiscal year ended December 31, 1994) which are incorporated by reference in this filing. *21 -- List of subsidiaries of AEP. *23 -- Consent of Deloitte & Touche LLP. *24 -- Power of Attorney. *27 -- Financial Data Schedules. APCO++ 3(a) -- Copy of Restated Articles of Incorporation of APCo, and amendments thereto to November 4, 1993 [Registration Statement No. 33-50163, Exhibit 4(a); Registration Statement No. 33-53805, Exhibits 4(b) and 4(c)]. *3(b) -- Copy of Articles of Amendment to the Restated Articles of Incorporation of APCo, dated June 6, 1994. *3(c) -- Composite copy of the Restated Articles of Incorporation of APCo, as amended. 3(d) -- Copy of By-Laws of APCo [Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1990, File No. 1-3457 Exhibit 3(d)]. 4(a) -- Copy of Mortgage and Deed of Trust, dated as of December 1, 1940, between APCo and Bankers Trust Company and R. Gregory Page, as Trustees, as amended and supplemented [Registration Statement No. 2-7289, Exhibit 7(b); Registration Statement No. 2-19884, Exhibit 2(1); Registration Statement No. 2-24453, Exhibit 2(n); Registration Statement No. 2-60015, Exhibits 2(b)(2), 2(b)(3), 2(b)(4), 2(b)(5), 2(b)(6), 2(b)(7), 2(b)(8), 2(b)(9), 2(b)(10), 2(b)(12), 2(b)(14), 2(b)(15), 2(b)(16), 2(b)(17), 2(b)(18), 2(b)(19), 2(b)(20), 2(b)(21), 2(b)(22), 2(b)(23), 2(b)(24), 2(b)(25), 2(b)(26), 2(b)(27) and 2(b)(28); Registration Statement No. 2-64102, Exhibit 2(b)(29); Registration Statement No. 2-66457, Exhibits (2)(b)(30) and 2(b)(31); Registration Statement No. 2-69217, Exhibit 2(b)(32); Registration Statement No. 2-86237, Exhibit 4(b); Registration Statement No. 33-11723, Exhibit 4(b); Registration Statement No. 33-17003, Exhibit 4(a)(ii), Registration Statement No. 33-30964, Exhibit 4(b); Registration Statement No. 33-40720, Exhibit 4(b); Registration Statement No. 33-45219, Exhibit 4(b); Registration Statement No. 33-46128, Exhibits 4(b) and 4(c); Registration Statement No. 33- 53410, Exhibit 4(b); Registration Statement No. 33- 59834, Exhibit 4(b); Registration Statement No. 33- 50229, Exhibits 4(b) and 4(c); Annual Report on Form 10-K of APCo for the fiscal year ending December 31, 1993, File No. 1-3457, Exhibit 4(b)]. *4(b) -- Copy of Indentures Supplemental, dated August 15, 1994, October 1, 1994 and March 1, 1995, to Mortgage and Deed of Trust. 10(a)(1) -- Copy of Power Agreement, dated October 15, 1952, between OVEC and United States of America, acting by and through the United States Atomic Energy Commission, and, subsequent to January 18, 1975, the Administrator of the Energy Research and Development Administration, as amended [Registration Statement No. 2-60015, Exhibit 5(a); Registration Statement No. 2-63234, Exhibit 5(a)(1)(B); Registration Statement No. 2-66301, Exhibit 5(a)(1)(C); Registration Statement No. 2-67728, Exhibit 5(a)(1)(D); Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1989, File No. 1-3457, Exhibit 10(a)(1)(F); and Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1992, File No. 1-3457, Exhibit 10(a)(1)(B)]. 10(a)(2) -- Copy of Inter-Company Power Agreement, dated as of July 10, 1953, among OVEC and the Sponsoring Companies, as amended [Registration Statement No. 2-60015, Exhibit 5(c); Registration Statement No. 2-67728, Exhibit 5(a)(3)(B); and Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1992, File No. 1- 3457, Exhibit 10(a)(2)(B)]. 10(a)(3) -- Copy of Power Agreement, dated July 10, 1953, between OVEC and Indiana-Kentucky Electric Corporation, as amended [Registration Statement No. 2-60015, Exhibit 5(e)]. 10(b) -- Copy of Interconnection Agreement, dated July 6, 1951, among APCo, CSPCo, KEPCo, OPCo and I&M and with the Service Corporation, as amended [Registration Statement No. 2-52910, Exhibit 5(a); Registration Statement No. 2-61009, Exhibit 5(b); Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1990, File No. 1-3525, Exhibit 10(a)(3)]. 10(c) -- Copy of Transmission Agreement, dated April 1, 1984, among APCo, CSPCo, I&M, KEPCo, OPCo and with the Service Corporation as agent, as amended [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(b); Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1988, File No. 1-3525, Exhibit 10(b)(2)]. *10(d) -- Copy of AEP System Interim Allowance Agreement, dated July 28, 1994, among APCo, CSPCo, I&M, KEPCo, OPCo and the Service Corporation. +10(e)(1) -- AEP Deferred Compensation Agreement for certain executive officers [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(e)]. +10(e)(2) -- Amendment to AEP Deferred Compensation Agreement for certain executive officers [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1986, File No. 1-3525, Exhibit 10(d)(2)]. +10(f)(1) -- Management Incentive Compensation Plan [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1994, File No. 1-3525, Exhibit 10(i)(1)]. +10(f)(2) -- American Electric Power System Performance Share Incentive Plan [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1994, File No. 1- 3525, Exhibit 10(i)(2)]. +10(g)(1) -- Excess Benefits Plan [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(1)(A)]. +10(g)(2) -- AEP System Supplemental Savings Plan (Non-Qualified) [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(2)]. +10(g)(3) -- Umbrella Trust TM for Executives [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(3)]. +10(h)(1) -- Employment Agreement between E. Linn Draper, Jr. and AEP and the Service Corporation [Annual Report on Form 10-K of AEGCo for the fiscal year ended December 31, 1991, File No. 0-18135, Exhibit 10(g)(3)]. *12 -- Statement re: Computation of Ratios. *13 -- Copy of those portions of the APCo 1994 Annual Report (for the fiscal year ended December 31, 1994) which are incorporated by reference in this filing. 21 -- List of subsidiaries of APCo [Annual Report on Form 10- K of AEP for the fiscal year ended December 31, 1994, File No. 1-3525, Exhibit 21]. *23 -- Consent of Deloitte & Touche LLP. *24 -- Power of Attorney. *27 -- Financial Data Schedules. CSPCO++ 3(a) -- Copy of Amended Articles of Incorporation of CSPCo, as amended to March 6, 1992 [Registration Statement No. 33-53377, Exhibit 4(a)]. *3(b) -- Copy of Certificate of Amendment to Amended Articles of Incorporation of CSPCo, dated May 19, 1994. *3(c) -- Composite copy of Amended Articles of Incorporation of CSPCo, as amended. 3(d) -- Copy of Code of Regulations and By-Laws of CSPCo [Annual Report on Form 10-K of CSPCo for the fiscal year ended December 31, 1987, File No. 1-2680, Exhibit 3(d)]. 4(a) -- Copy of Indenture of Mortgage and Deed of Trust, dated September 1, 1940, between CSPCo and City Bank Farmers Trust Company (now Citibank, N.A.), as trustee, as supplemented and amended [Registration Statement No. 2- 59411, Exhibits 2(B) and 2(C); Registration Statement No. 2-80535, Exhibit 4(b); Registration Statement No. 2-87091, Exhibit 4(b); Registration Statement No. 2- 93208, Exhibit 4(b); Registration Statement No. 2- 97652, Exhibit 4(b); Registration Statement No. 33- 7081, Exhibit 4(b); Registration Statement No. 33- 12389, Exhibit 4(b); Registration Statement No. 33- 19227, Exhibits 4(b), 4(e), 4(f), 4(g) and 4(h); Registration Statement No. 33-35651, Exhibit 4(b); Registration Statement No. 33-46859, Exhibits 4(b) and 4(c); Registration Statement No. 33-50316, Exhibits 4(b) and 4(c); Registration Statement No. 33-60336, Exhibits 4(b), 4(c) and 4(d); Registration Statement No. 33-50447, Exhibits 4(b) and 4(c); Annual Report on Form 10-K of CSPCo for the fiscal year ended December 31, 1993, File No. 1-2680, Exhibit 4(b)]. 10(a)(1) -- Copy of Power Agreement, dated October 15, 1952, between OVEC and United States of America, acting by and through the United States Atomic Energy Commission, and, subsequent to January 18, 1975, the Administrator of the Energy Research and Development Administration, as amended [Registration Statement No. 2-60015, Exhibit 5(a); Registration Statement No. 2-63234, Exhibit 5(a)(1)(B); Registration Statement No. 2-66301, Exhibit 5(a)(1)(C); Registration Statement No. 2-67728, Exhibit 5(a)(1)(B); Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1989, File No. 1-3457, Exhibit 10(a)(1)(F); and Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1992, File No. 1-3457, Exhibit 10(a)(1)(B)]. 10(a)(2) -- Copy of Inter-Company Power Agreement, dated July 10, 1953, among OVEC and the Sponsoring Companies, as amended [Registration Statement No. 2-60015, Exhibit 5(c); Registration Statement No. 2-67728, Exhibit 5(a)(3)(B); and Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1992, File No. 1- 3457, Exhibit 10(a)(2)(B)]. 10(a)(3) -- Copy of Power Agreement, dated July 10, 1953, between OVEC and Indiana-Kentucky Electric Corporation, as amended [Registration Statement No. 2-60015, Exhibit 5(e)]. 10(b) -- Copy of Interconnection Agreement, dated July 6, 1951, among APCo, CSPCo, KEPCo, OPCo and I&M and the Service Corporation, as amended [Registration Statement No. 2- 52910, Exhibit 5(a); Registration Statement No. 2- 61009, Exhibit 5(b); and Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1990, File No. 1-3525, Exhibit 10(a)(3)]. 10(c) -- Copy of Transmission Agreement, dated April 1, 1984, among APCo, CSPCo, I&M, KEPCo, OPCo, and with the Service Corporation as agent, as amended [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(b); and Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1988, File No. 1-3525, Exhibit 10(b)(2)]. 10(d) -- Copy of Interim Allowance Agreement [Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1994, File No. 1-3457, Exhibit 10(d)]. *12 -- Statement re: Computation of Ratios. *13 -- Copy of those portions of the CSPCo 1994 Annual Report (for the fiscal year ended December 31, 1994) which are incorporated by reference in this filing. 21 -- List of subsidiaries of CSPCo [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1994, File No. 1-3525, Exhibit 21]. *23 -- Consent of Deloitte & Touche LLP. *24 -- Power of Attorney. *27 -- Financial Data Schedules. I&M++ 3(a) -- Copy of the Amended Articles of Acceptance of I&M and amendments thereto [Annual Report on Form 10-K of I&M for fiscal year ended December 31, 1993, File No. 1- 3570, Exhibit 3(a)]. 3(b) -- Composite Copy of the Amended Articles of Acceptance of I&M, as amended [Annual Report on Form 10-K of I&M for fiscal year ended December 31, 1993, File No. 1-3570, Exhibit 3(b)]. 3(c) -- Copy of the By-Laws of I&M [Annual Report on Form 10-K of I&M for the fiscal year ended December 31, 1990, File No 1-3570, Exhibit 3(d)]. 4(a) -- Copy of Mortgage and Deed of Trust, dated as of June 1, 1939, between I&M and Irving Trust Company (now The Bank of New York) and various individuals, as Trustees, as amended and supplemented [Registration Statement No. 2-7597, Exhibit 7(a); Registration Statement No. 2- 60665, Exhibits 2(c)(2), 2(c)(3), 2(c)(4), 2(c)(5), 2(c)(6), 2(c)(7), 2(c)(8), 2(c)(9), 2(c)(10), 2(c)(11), 2(c)(12), 2(c)(13), 2(c)(14), 2(c)(15), (2)(c)(16), and 2(c)(17); Registration Statement No. 2-63234, Exhibit 2(b)(18); Registration Statement No. 2-65389, Exhibit 2(a)(19); Registration Statement No. 2-67728, Exhibit 2(b)(20); Registration Statement No. 2-85016, Exhibit 4(b); Registration Statement No. 33-5728, Exhibit 4(c); Registration Statement No. 33-9280, Exhibit 4(b); Registration Statement No. 33-11230, Exhibit 4(b); Registration Statement No. 33-19620, Exhibits 4(a)(ii), 4(a)(iii), 4(a)(iv) and 4(a)(v); Registration Statement No. 33-46851, Exhibits 4(b)(i), 4(b)(ii) and 4(b)(iii); Registration Statement No. 33-54480, Exhibits 4(b)(i) and 4(b)(ii); Registration Statement No. 33-60886, Exhibit 4(b)(i); Registration Statement No. 33-50521, Exhibits 4(b)(i), 4(b)(ii) and 4(b)(iii); Annual Report on Form 10-K of I&M for fiscal year ended December 31, 1993, File No. 1-3570, Exhibit 4(b)]. *4(b) -- Copy of Indenture Supplemental dated May 1, 1994 to Mortgage and Deed of Trust. 10(a)(1) -- Copy of Power Agreement, dated October 15, 1952, between OVEC and United States of America, acting by and through the United States Atomic Energy Commission, and, subsequent to January 18, 1975, the Administrator of the Energy Research and Development Administration, as amended [Registration Statement No. 2-60015, Exhibit 5(a); Registration Statement No. 2-63234, Exhibit 5(a)(1)(B); Registration Statement No. 2-66301, Exhibit 5(a)(1)(C); Registration Statement No. 2-67728, Exhibit 5(a)(1)(D); Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1989, File No. 1-3457, Exhibit 10(a)(1)(F); and Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1992, File No. 1-3457, Exhibit 10(a)(1)(B)]. 10(a)(2) -- Copy of Inter-Company Power Agreement, dated as of July 10, 1953, among OVEC and the Sponsoring Companies, as amended [Registration Statement No. 2-60015, Exhibit 5(c); Registration Statement No. 2-67728, Exhibit 5(a)(3)(B); Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1992, File No. 1-3457, Exhibit 10(a)(2)(B)]. 10(a)(3) -- Copy of Power Agreement, dated July 10, 1953, between OVEC and Indiana-Kentucky Electric Corporation, as amended [Registration Statement No. 2-60015, Exhibit 5(e)]. 10(b) -- Copy of Interconnection Agreement, dated July 6, 1951, between APCo, CSPCo, KEPCo, I&M, and OPCo and with the Service Corporation, as amended [Registration Statement No. 2-52910, Exhibit 5(a); Registration Statement No. 2-61009, Exhibit 5(b); and Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1990, File No. 1-3525, Exhibit 10(a)(3)]. 10(c) -- Copy of Transmission Agreement, dated April 1, 1984, among APCo, CSPCo, I&M, KEPCo, OPCo and with the Service Corporation as agent, as amended [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(b); and Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1988, File No. 1-3525, Exhibit 10(b)(2)]. 10(d) -- Copy of Interim Allowance Agreement [Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1994, File No. 1-3457, Exhibit 10(d)]. 10(e) -- Copy of Nuclear Material Lease Agreement, dated as of December 1, 1990, between I&M and DCC Fuel Corporation [Annual Report on Form 10-K of I&M for the fiscal year ended December 31, 1993, File No. 1-3570, Exhibit 10(d)]. 10(f) -- Copy of Lease Agreements, dated as of December 1, 1989, between I&M and Wilmington Trust Company, as amended [Registration Statement No. 33-32753, Exhibits 28(a)(1)(C), 28(a)(2)(C), 28(a)(3)(C), 28(a)(4)(C), 28(a)(5)(C) and 28(a)(6)(C); Annual Report on Form 10-K of I&M for the fiscal year ended December 31, 1993, File No. 1-3570, Exhibits 10(e)(1)(B), 10(e)(2)(B), 10(e)(3)(B), 10(e)(4)(B), 10(e)(5)(B) and 10(e)(6)(B)]. *12 -- Statement re: Computation of Ratios *13 -- Copy of those portions of the I&M 1994 Annual Report (for the fiscal year ended December 31, 1994) which are incorporated by reference in this filing. 21 -- List of subsidiaries of I&M [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1994, File No. 1-3525, Exhibit 21]. *23 -- Consent of Deloitte & Touche LLP. *24 -- Power of Attorney. *27 -- Financial Data Schedules. KEPCO 3(a) -- Copy of Restated Articles of Incorporation of KEPCo [Annual Report on Form 10-K of KEPCo for the fiscal year ended December 31, 1991, File No. 1-6858, Exhibit 3(a)]. *3(b) -- Copy of By-Laws of KEPCo. 4(a) -- Copy of Mortgage and Deed of Trust, dated May 1, 1949, between KEPCo and Bankers Trust Company, as supplemented and amended [Registration Statement No. 2- 65820, Exhibits 2(b)(1), 2(b)(2), 2(b)(3), 2(b)(4), 2(b)(5), and 2(b)(6); Registration Statement No. 33- 39394, Exhibits 4(b) and 4(c); Registration Statement No. 33-53226, Exhibits 4(b) and 4(c); Registration Statement No. 33-61808, Exhibits 4(b) and 4(c), Registration Statement No. 33-53007, Exhibits 4(b), 4(c) and 4(d)]. 10(a) -- Copy of Interconnection Agreement, dated July 6, 1951, among APCo, CSPCo, KEPCo, I&M and OPCo and with the Service Corporation, as amended [Registration Statement No. 2-52910, Exhibit 5(a); Registration Statement No. 2-61009, Exhibit 5(b); and Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1990, File No. 1-3525, Exhibit 10(a)(3)]. 10(b) -- Copy of Transmission Agreement, dated April 1, 1984, among APCo, CSPCo, I&M, KEPCo, OPCo and with the Service Corporation as agent, as amended [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(b); and Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1988, File No. 1-3525, Exhibit 10(b)(2)]. 10(c) -- Copy of Interim Allowance Agreement [Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1994, File No. 1-3457, Exhibit 10(d)]. *12 -- Statement re: Computation of Ratios. *13 -- Copy those portions of the KEPCo 1994 Annual Report (for the fiscal year ended December 31, 1994) which are incorporated by reference in this filing. *23 -- Consent of Deloitte & Touche LLP. *24 -- Power of Attorney. *27 -- Financial Data Schedules. OPCO++ 3(a) -- Copy of Amended Articles of Incorporation of OPCo, and amendments thereto to December 31, 1993 [Registration Statement No. 33-50139, Exhibit 4(a); Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1993, File No. 1-6543, Exhibit 3(b)]. *3(b) -- Certificate of Amendment to Amended Articles of Incorporation of OPCo, dated May 3, 1994. *3(c) -- Composite copy of the Amended Articles of Incorporation of OPCo, as amended. 3(d) -- Copy of Code of Regulations of OPCo [Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1990, File No. 1-6543, Exhibit 3(d)]. 4(a) -- Copy of Mortgage and Deed of Trust, dated as of October 1, 1938, between OPCo and Manufacturers Hanover Trust Company (now Chemical Bank), as Trustee, as amended and supplemented [Registration Statement No. 2-3828, Exhibit B-4; Registration Statement No. 2-60721, Exhibits 2(c)(2), 2(c)(3), 2(c)(4), 2(c)(5), 2(c)(6), 2(c)(7), 2(c)(8), 2(c)(9), 2(c)(10), 2(c)(11), 2(c)(12), 2(c)(13), 2(c)(14), 2(c)(15), 2(c)(16), 2(c)(17), 2(c)(18), 2(c)(19), 2(c)(20), 2(c)(21), 2(c)(22), 2(c)(23), 2(c)(24), 2(c)(25), 2(c)(26), 2(c)(27), 2(c)(28), 2(c)(29), 2(c)(30), and 2(c)(31); Registration Statement No. 2-83591, Exhibit 4(b); Registration Statement No. 33-21208, Exhibits 4(a)(ii), 4(a)(iii) and 4(a)(vi); Registration Statement No. 33- 31069, Exhibit 4(a)(ii); Registration Statement No. 33- 44995, Exhibit 4(a)(ii); Registration Statement No. 33- 59006, Exhibits 4(a)(ii), 4(a)(iii) and 4(a)(iv); Registration Statement No. 33-50373, Exhibits 4(a)(ii), 4(a)(iii) and 4(a)(iv); Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1993, File No. 1-6543, Exhibit 4(b)]. 10(a)(1) -- Copy of Power Agreement, dated October 15, 1952, between OVEC and United States of America, acting by and through the United States Atomic Energy Commission, and, subsequent to January 18, 1975, the Administrator of the Energy Research and Development Administration, as amended [Registration Statement No. 2-60015, Exhibit 5(a); Registration Statement No. 2-63234, Exhibit 5(a)(1)(B); Registration Statement No. 2-66301, Exhibit 5(a)(1)(C); Registration Statement No. 2-67728, Exhibit 5(a)(1)(D); Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1989, File No. 1-3457, Exhibit 10(a)(1)(F); Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1992, File No. 1-3457, Exhibit 10(a)(1)(B)]. 10(a)(2) -- Copy of Inter-Company Power Agreement, dated July 10, 1953, among OVEC and the Sponsoring Companies, as amended [Registration Statement No. 2-60015, Exhibit 5(c); Registration Statement No. 2-67728, Exhibit 5(a)(3)(B); Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1992, File No. 1-3457, Exhibit 10(a)(2)(B)]. 10(a)(3) -- Copy of Power Agreement, dated July 10, 1953, between OVEC and Indiana-Kentucky Electric Corporation, as amended [Registration Statement No. 2-60015, Exhibit 5(e)]. 10(b) -- Copy of Interconnection Agreement, dated July 6, 1951, between APCo, CSPCo, KEPCo, I&M and OPCo and with the Service Corporation, as amended [Registration Statement No. 2-52910, Exhibit 5(a); Registration Statement No. 2-61009, Exhibit 5(b); Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1990, File 1-3525, Exhibit 10(a)(3)]. 10(c) -- Copy of Transmission Agreement, dated April 1, 1984, among APCo, CSPCo, I&M, KEPCo, OPCo and with the Service Corporation as agent [Annual Report on Form 10- K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(b); Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1988, File No. 1-3525, Exhibit 10(b)(2)]. 10(d) -- Copy of Interim Allowance Agreement [Annual Report on Form 10-K of APCo for the fiscal year ended December 31, 1994, File No. 1-3457, Exhibit 10(d)]. 10(e) -- Copy of Agreement, dated June 18, 1968, between OPCo and Kaiser Aluminum & Chemical Corporation (now known as Ravenswood Aluminum Corporation) and First Supplemental Agreement thereto [Registration Statement No. 2-31625, Exhibit 4(c); Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1986, File No. 1-6543, Exhibit 10(d)(2)]. 10(f) -- Copy of Power Agreement, dated November 16, 1966, between OPCo and Ormet Generating Corporation and First Supplemental Agreement thereto [Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1993, File No. 1-6543, Exhibit 10(e)]. 10(g) -- Copy of Amendment No. 1, dated October 1, 1973, to Station Agreement dated January 1, 1968, among OPCo, Buckeye and Cardinal Operating Company, and amendments thereto [Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1993, File No. 1-6543, Exhibit 10(f)]. +10(h)(1) -- AEP Deferred Compensation Agreement for certain executive officers [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1985, File No. 1-3525, Exhibit 10(e)]. +10(h)(2) -- Amendment to AEP Deferred Compensation Agreement for certain executive officers [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1986, File No. 1-3525, Exhibit 10(d)(2)]. +10(i)(1) -- Management Incentive Compensation Plan [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1994, File No. 1-3525, Exhibit 10(i)(1)]. +10(i)(2) -- American Electric Power System Performance Share Incentive Plan, as Amended and Restated through January 1, 1995 [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1994, File No. 1-3525, Exhibit 10(i)(2)]. +10(j)(1) -- Excess Benefits Plan [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(1)(A)]. +10(j)(2) -- AEP System Supplemental Savings Plan (Non-Qualified) [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(2)]. +10(j)(3) -- Umbrella Trust TM for Executives [Annual Report on Form 10-K of AEP for the fiscal year ended December 31, 1993, File No. 1-3525, Exhibit 10(g)(3)]. +10(k)(1) -- Employment Agreement between E. Linn Draper, Jr. and AEP and the Service Corporation [Annual Report on Form 10-K of AEGCo for the fiscal year ended December 31, 1991, File No. 0-18135, Exhibit 10(g)(2)]. 10(l)(1) -- Agreement for Lease dated as of September 17, 1992 between JMG Funding, Limited Partnership and OPCo [Annual Report on Form 10-K of OPCo for the fiscal year ended December 31, 1992, File No. 1-6543, Exhibit 10(l)]. *10(l)(2) -- Lease Agreement dated January 20, 1995 between OPCo and JMG Funding, Limited Partnership, and amendment thereto (confidential treatment requested). *12 -- Statement re: Computation of Ratios. *13 -- Copy of those portions of the OPCo 1994 Annual Report (for the fiscal year ended December 31, 1994) which are incorporated by reference in this filing. 21 -- List of subsidiaries of OPCo [Annual Report on Form 10- K of AEP for the fiscal year ended December 31, 1994, File No. 1-3525, Exhibit 21]. *23 -- Consent of Deloitte & Touche LLP. *24 -- Power of Attorney. *27 -- Financial Data Schedules. --------------- ++Certain instruments defining the rights of holders of long-term debt of the registrants included in the financial statements of registrants filed herewith have been omitted because the total amount of securities authorized thereunder does not exceed 10% of the total assets of registrants. The registrants hereby agree to furnish a copy of any such omitted instrument to the SEC upon request. Exhibit D Tax Agreement Regarding Method of Allocating Consolidated Federal Income Taxes. . . . . See Following Document FILED WITH 1994 FORM U5S AMERICAN ELECTRIC POWER COMPANY, INC. AND ITS CONSOLIDATED AFFILIATES TAX AGREEMENT UNDER TITLE 17, CHAPTER II OF THE CODE OF FEDERAL REGULATIONS PARAGRAPH (C) OF SECTION 250.45 REGARDING METHOD OF ALLOCATING CONSOLIDATED INCOME TAXES The below listed affiliated companies, joining in the annual filing of a consolidated federal income tax return with American Electric Power Company, Inc., agree to allocate the consolidated annual net current federal income tax liability and/or benefit to the members of the consolidated group in accordance with the following procedures: (1) The consolidated regular federal income tax, exclusive of capital gains and preference taxes and before the application of credits including investment tax credits, shall be apportioned among the members of the consolidated group based on corporate taxable income. Loss companies shall be included in the allocation, receiving a negative tax allocation which is similar to a separate return carryback refund, before considering investment tax credit, which would have resulted had the loss company historically filed a separate return. (2) The corporate taxable income of each member of the group shall be first reduced by its proportionate share of American Electric Power Company, Inc.'s (the holding company) tax loss in arriving at adjusted corporate taxable income for each member of the group with positive taxable income. (3) To the extent that the consolidated and corporate taxable incomes include material items taxed at rates other than the statutory tax rate (such as capital gains and preference items), the portion of the consolidated tax attributable to these items shall be apportioned directly to the members of the group giving rise to such items. (4) Consolidated investment tax credits utilized shall be apportioned to each member of the consolidated group by applying the current statutory maximum investment tax credit limitation to each member's allocated portion of the consolidated regular federal income tax plus the tax on items taxed at rates other than the statutory rate which can be offset by investment tax credits as apportioned in procedures (1) and (3) above. Members generating current corporate tax losses shall be allocated a negative investment tax credit by applying the current statutory maximum investment tax credit limitation to their net negative allocation resulting from procedures (1) and (3) above. The positive credit apportioned to each member with corporate taxable income shall be limited to that member's total available corporate investment tax credit inclusive of carryforwards generated by such member. Any difference between the total of each member's allocated investment tax credit, in accordance with the above procedures and the total consolidated investment tax credit shall be allocated to the members of the consolidated group with remaining corporate investment tax credit available, inclusive of tax loss companies, in proportion to the corporate credit available to each member, again limiting the credit allocated to each member to the remaining corporate credit available to that member. The negative investment tax credit allocated to member companies with tax losses is similar to a reversal of investment tax credits utilized in prior years which would have resulted from a net operating tax loss carryback had the loss company filed a separate return. This reversal or negative investment tax credit will reduce the credit tax allocated to the loss company in procedure (1). Any negative credit reversals allocated to a member generating a corporate tax loss will be added to that member's available corporate credit for future allocations. (5) Any special benefits other than investment tax credits shall be allocated directly to the members of the consolidated group giving rise to them. (6) Should the consolidated group generate a net operating tax loss for a calendar year, special procedures shall be adopted to allocate the resultant consolidated carryback refund or the reduction in consolidated net current federal income taxes, which will result in future years when the carryforward tax losses are applied to reduce consolidated taxable income. The tax benefits of any resultant carryback shall be allocated proportionately to member companies that generated corporate tax losses in the year the consolidated net operating loss was generated. Any related loss of credits, including investment tax credit reversals, shall be allocated to the member companies that utilized the credits in the prior year in the same proportion that the credit lost is to the total credit utilized in the prior year. Investment tax credit reversals allocated to a member will be added to that member's available corporate investment tax credit for future allocations. A prior year consolidated net operating tax loss carryfoward applied to reduce current year consolidated taxable income shall be allocated proportionately to member companies that generated a corporate tax loss in the year the consolidated net operating tax loss was generated. (7) A member with a net positive tax allocation shall pay the holding company the net amount allocated, while a tax loss member with a net negative tax allocation shall receive current payment from the holding company in the amount of its negative allocation. The payment made to a member with a tax loss should equal the amount by which the consolidated tax is reduced by including the member's net corporate tax loss in the consolidated tax return. The holding company shall pay to the Internal Revenue Service the consolidated group's net current federal income tax liability from the net of the receipts and payments. (8) No member of the consolidated group shall be allocated a federal income tax which is greater than the federal income tax computed as if such member had filed a separate return. Any current state tax liability and/or benefit associated with a state tax return involving more than one member of the consolidated group, shall be allocated to such members following the principles set forth above for current federal income taxes. Due to certain states utilizing a unitary approach, the consolidated return liability may exceed the sum of the liabilities computed for each company on a separate return basis. If this occurs, the excess of the consolidated liability over the sum of the separate return liabilities shall be allocated proportionally based on each member's contribution to the consolidated apportionment percentage. If additional tax is attributable to a significant transaction or event, such additional tax shall be allocated directly to the members who are party to said transaction or event. This agreement is subject to revision as a result of changes in federal and state tax law and relevant facts and circumstances. The above procedures for apportioning the consolidated annual net current federal and state tax liabilities and expenses of American Electric Power Company, Inc. and its consolidating affiliates have been agreed to by each of the below listed members of the consolidated group as evidenced by the signature of an officer of each company. COMPANY OFFICER'S SIGNATURE American Electric Power Company, Inc. W. L. Scott American Electric Power Service Corporation W. L. Scott AEP Energy Services, Inc. L. V. Assante AEP Generating Company L. V. Assante AEP Investments, Inc. L. V. Assante AEP Resources, Inc. L. V. Assante Appalachian Power Company L. V. Assante Blackhawk Coal Company L. V. Assante Cedar Coal Company L. V. Assante Central Appalachian Coal Company L. V. Assante Central Coal Company L. V. Assante Central Ohio Coal Company L. V. Assante Central Operating Company L. V. Assante Colomet, Inc. L. V. Assante Columbus Southern Power Company L. V. Assante Conesville Coal Preparation Company L. V. Assante The Franklin Real Estate Company L. V. Assante Indiana Franklin Realty, Inc. L. V. Assante Indiana Michigan Power Company L. V. Assante Kanawha Valley Power Company L. V. Assante Kentucky Power Company L. V. Assante Kingsport Power Company L. V. Assante Ohio Power Company L. V. Assante Price River Coal Company, Inc. L. V. Assante Simco, Inc. L. V. Assante Southern Appalachian Coal Company L. V. Assante Southern Ohio Coal Company L. V. Assante West Virginia Power Company L. V. Assante Wheeling Power Company L. V. Assante Windsor Coal Company L. V. Assante Exhibit E Copies of Personnel Policies as They Relate to Rule 48(b). . . . . See Following Document AMERICAN ELECTRIC POWER EXEMPT EMPLOYEES AND NONEXEMPT SUPERVISORS RELOCATION EXPENSE POLICY HOMEQUITY PROGRAM IMPLEMENTED JUNE 1987 REVISED MARCH 1991 UPDATED DECEMBER 1994 TABLE OF CONTENTS Page ARTICLE I. ELIGIBILITY A. Full . . . . . . . . . . . . . . . . . . . . 1 B. Partial . . . . . . . . . . . . . . . . . . . 1 ARTICLE II. DISPOSAL OF PRESENT RESIDENCE A. Home Defined . . . . . . . . . . . . . . . . 3 B. Home Sale Assistance . . . . . . . . . . . . 4 C. Lease Agreements . . . . . . . . . . . . . . 6 D. Land Contracts . . . . . . . . . . . . . . . 6 ARTICLE III. NEW RESIDENCE A. Travel Expenses . . . . . . . . . . . . . . . 7 B. Hotel & Temporary Living Expenses at New Location . . . . . . . . . . . . . . . 7 C. Equity Loan . . . . . . . . . . . . . . . . . 8 D. Home Purchase Expenses . . . . . . . . . . . 8 E. Duplicate Housing Expenses . . . . . . . . . 9 F. Miscellaneous Expense Allowance . . . . . . . 9 G. Movement of Household Goods . . . . . . . . . 10 ARTICLE IV. MORTGAGE ASSISTANCE AND COUNSELING A. Monthly Interest Rate Differential Allowance (MID) . . . . . . . . . . . . . . . 11 1. Duplicate Mortgages . . . . . . . . . . 11 2. Subsequent Relocations . . . . . . . . . 12 3. Variable Rate Mortgages . . . . . . . . 13 4. Leave of Absence . . . . . . . . . . . . 13 B. U. S. Mortgage Corporation . . . . . . . . . 13 ARTICLE V. TAXABILITY OF REIMBURSED EXPENSES A. Long Move/Short Move . . . . . . . . . . . . 13 B. Direct/Indirect Expenses . . . . . . . . . . 14 C. Tax Allowance/Gross Up . . . . . . . . . . . 14 ARTICLE VI. APPROVALS OF RELOCATIONS AND REIMBURSEMENTS A. Preliminary Review . . . . . . . . . . . . . 15 B. Approvals . . . . . . . . . . . . . . . . . 15 C. Excess Expenses . . . . . . . . . . . . . . 16 ARTICLE VII. ADMINISTRATION OF POLICY A. Explanation of Policy . . . . . . . . . . . 16 B. Property Marketability . . . . . . . . . . . 16 C. Market Value . . . . . . . . . . . . . . . . 16 D. Accounting . . . . . . . . . . . . . . . . . 16 E. Approving Expenses . . . . . . . . . . . . . 16 F. Assistance . . . . . . . . . . . . . . . . . 17 ATTACHMENT I EMPLOYMENT CONTRACT (GRADES 10, 11, 12, 20-25) ATTACHMENT I-A EMPLOYMENT CONTRACT (GRADES 13 AND OVER, 26 AND OVER) ATTACHMENT II REQUEST TO GRANT THE SPECIAL RELOCATION POLICY TO AN ELIGIBLE NEW HIRE ATTACHMENT III RELOCATION AUTHORIZATION FORM ATTACHMENT IV EQUITY LOAN AGREEMENT ATTACHMENT V PROMISSORY NOTE ATTACHMENT VI REQUEST FOR APPROVAL OF MOVING EXPENSES 3/9l AMERICAN ELECTRIC POWER SYSTEM EXEMPT EMPLOYEES AND NONEXEMPT SUPERVISORS RELOCATION EXPENSE POLICY PHH HOMEQUITY PROGRAM IMPLEMENTED JUNE 1987 REVISED MARCH l99l The relocation policy provides for the reimbursement of expenses which are directly related to the relocation of an eligible employee who is requested by the Company to transfer to a new work location. The policy is designed to help relieve employees of the financial and physical burdens which normally accompany a relocation. Through close adherence to the policy, efficiency and consistency of all employee relocations can be assured. ARTICLE I. ELIGIBILITY Employee relocations fall into two eligibility categories: A. Eligible For Full Coverage Regular, full-time exempt employees and nonexempt super- visors are eligible under the relocation policy provided: 1. The relocation is considered permanent or indefinite (i.e., there is no predetermined intention to return or transfer the employee back to the previous location or to another location within a one-year period). 2. The Company requests the employee to relocate. B. Eligible For Partial Coverage 1. Newly hired exempt employees in salary grades below 10 in the Service Corporation - Columbus (grades below 20 at all other locations) -- are eligible for reimburse-ment of only the moving of household effects, travel, motel, and related expenses at the new location. 2. Newly hired exempt employees hired into salary grades 10, 11, and 12 in the Service Corporation - Columbus (grades 20 through 25 at all other locations) -- In addition to being eligible for the same relocation benefits as outlined in Paragraph 1 of this section, such exempt employees are also eligible for reimbursement of the following closing costs in connection with the disposition of their former residences: o Broker's commissions, if any o Customary legal fees 3/9l o Transfer charges and transfer taxes o Mortgage prepayment penalties, but not any "points" charged to the new hire by a lending institution in connection with a mortgage obtained by the purchaser o Miscellaneous seller's closing costs o Any other taxes, other than federal, state, or local taxes imposed on, or measured by, the gain on the sale of the home. Provided a newly hired exempt employee is granted reim- bursement of certain closing costs in connection with the disposition of his former residence, the new employee will be required to enter into an employment contract (Attachment I) with the Company whereby he agrees that upon voluntary termination from the Company within three years of his employment, he will, upon request from the Company, be required to reimburse the Company for all payments made to him or in his behalf except those made pursuant to Article III, Sections A, B, and G. 3. Newly hired exempt employees hired into grades 13 and above in the Service Corporation - Columbus (grades 26 and above at all other locations) -- are eligible for all provisions of this Relocation Expense Policy except the payment of one month's salary as a miscellaneous allowance. Approval of the Chairman and Chief Executive Officer must be obtained in advance of granting the provisions of this paragraph to an applicant for employment. Any such request should be submitted on Form PS-97 (Attachment II) and sent through the Assistant Vice President - Compensation and Benefits for the Chairman's approval. Provided a newly hired exempt employee is granted all benefits and provisions of this policy (except one month's salary as a miscellaneous allowance), the new employee will be required to enter into an employment contract (Attachment I-A) with the Company whereby he agrees that upon voluntary termination from the Company within three years of his employment, he will, upon request from the Company, be required to reimburse the Company for all payments made to him or in his behalf except those made pursuant to Article III, Sections A, B and G. 2/9l ARTICLE II. DISPOSAL OF PRESENT RESIDENCE The Company has contracted with PHH Homequity, a national real estate/relocation services firm, to assist the Company by offer- ing to purchase, at the full appraised current market value, the homes of employees who are being transferred by the Company (Homequity's Home Sale Assistance Program). In addition, if so desired by the employee, Homequity will assist the employee in locating a new home for purchase at the new work location area (Homequity Area Counseling and Homefinding). Assistance in moving of household goods (HomeExpress) is are also available through Homequity. The home disposal benefit assists a transferred employee in dis- posing of his home in the shortest possible time by providing an alternative to the normal marketing of the home. An eligible employee has the option of: (1) selling the home under the Home Sale Assistance Program as described below, or (2) attempting to sell the home on his own. A. "Home" shall mean improved real estate: 1. Which is, at the issuance by the Company of the Homequity relocation assistance authorization, owned and used by the employee as his year-round one or two-family principal residence, including condominiums, but exclud- ing cooperative housing and mobile homes not permanently affixed. 2. Which shall include only the items of personal property set forth in the Contract of Sale. 3. With respect to which all mortgages can be prepaid. If a prepayment penalty is required, it must not exceed the greater of: o one percent of the original loan, or o six months' interest on the outstanding mortgage balance. 4. With respect to which insurance is available at standard rates for normal hazards of fire and extended coverage. 5. With respect to which all leases can be terminated by Homequity with no more than a sixty-day notice to the lessor. 6. Which is owned by an employee not involved in a company- directed group move. 3/9l 7. Which is not fully or partially insulated with material containing urea formaldehyde and/or which is not situated on or near or containing any other hazardous or toxic materials or gases that cannot be improved to normally accepted or governmental determined conditions. 8. Which contains acreage (lot size) within the norm and specific zoning limits for that particular locale or neighborhood. B. Home Sale Assistance An eligible employee who owns a home at the old location which meets the above definition may elect to sell the home through the Home Sale Assistance Program offered by Homequity. 1. The Company will authorize Homequity to prepare an offer to purchase the employee's home. This authorization should initially be given verbally to Homequity and confirmed in writing on an Authorization Form (Attachment III). 2. From Homequity's pre-approved list, the employee shall select three appraisers (two primary and one back-up) to evaluate the property based on normal marketing time for a typical sale in the area. If the two appraisals from the primary appraisers are within 7.5% of each other, they will be averaged to determine the appraised value of the home. If the higher appraisal exceeds the lower appraisal by more than 7.5%, a third appraisal from the back-up appraiser will be ordered, and the two closest appraisals will be averaged to arrive at the appraised value. Based upon these appraisals, Homequity will offer to purchase the employee's home at 100% of its appraised value. Homequity will notify the employee by telephone of the offer price and confirm the offer in writing. The employee has sixty days from the date of the telephone offer to accept Homequity's offer. 3. In those cases where there is a negative equity situation (employee mortgage balance is greater than Homequity's purchase offer/appraised value), the employee must pay the difference between the mortgage balance and the appraised value to Homequity at the time of closing and sale of his property to Homequity, should he accept Homequity's guaranteed purchase offer. Failure to make this payment to Homequity will result in the withdrawal of Homequity's guaranteed purchase offer. 4. The employee also has the option of testing the housing market on his own by attempting to better Homequity's offer. 2/9l a. For the protection of the employee and to retain the right to sell the property to Homequity should the employee not receive an acceptable offer, the follow- ing clause must be inserted into (not as an attach- ment) any listing agreement the employee signs with a real estate broker: "The owners hereby reserve the right: (1) to sell this property directly to PHH Homequity at any time and in such event to cancel this agreement with no obligation for commission or continuation of listing thereafter; or (2) to assign any acceptable written offer hereunder to PHH Homequity for closing and payment of commission (which shall be deemed earned and payable on closing of title) in accordance with the terms thereof." b. An employee who otherwise qualifies for the Home Sale Assistance Program and elects to sell his home without the aid of Homequity (i.e., an "assigned" sale) will be reimbursed by the Company for the following closing expenses: o Broker's commission o Customary legal fees o Transfer charges and transfer taxes o Mortgage prepayment penalties as per Article II, Section A.3 (but not points) o Miscellaneous closing costs o Taxes other than those incurred due to gain on sale or property taxes 5. "Assigned" Sale - If, within the sixty-day offer period and prior to accepting Homequity's offer, an employee receives a written sales contract on the home which is greater than Homequity's offer, Homequity will handle the closing of the sale for the employee at the higher price. 6. Following acceptance of the outside (non-Homequity) offer, the employee will receive payment from Homequity equal to his equity based on the appraised value of his home, less adjustments, if any, for charges or liens against the property based upon the date the employee will vacate the property. The equity will not be reduced by any expenses of sale since these expenses are borne by the Company. The remaining equity will be paid to the employee at the time Homequity closes on the home for the employee. NOTE: Subsequent adjustments will be made if the vacating date should change after the equity payment has been made. 7. The employee remains responsible for mortgage, tax, insurance, maintenance, and utility payments until either the date the property is vacated or the date a new residence is purchased. The vacating date normally will not be later than sixty days from the date the employee accepts the offer by Homequity; however, in unusual cases, extensions may be granted with prior approval of Homequity and the Human Resources Director. Homequity will resell the home and handle the details of closing the sale, including maintenance of the property and payment of utility bills after the property is vacated by the employee. 8. The cost of the Home Sale Assistance Program, including the service fee of Homequity, will be paid by the Company. This service fee is the only compensation paid to Homequity. Homequity does not incur a profit or loss on the sale of an employee's property. If a gain does occur because of a sale (or contract) made within ninety days of Homequity's takeover of the property, the gain reverts to the employee minus any costs incurred to improve the salability of the property. These costs include, but are not limited to, payment of a purchaser's points and/or closing costs plus any other incentives deemed necessary by Homequity and/or System Human Resources to consummate the sale of a property. Also included would be costs incurred by the Company to repair plumbing, electrical, or structural deficiencies of the home as well as decorating costs needed to improve the marketability of the home. C. Lease Agreements An eligible employee renting his primary residence at the time of relocation who cannot cancel a lease arrangement without being assessed a penalty, shall be reimbursed by the Company for up to a three-month lease penalty for cancelling the lease. A copy of the lease agreement, indicating the penalty, and a paid receipt are required for reimbursement. D. Land Contracts For those eligible employees who have entered into a Land Contract arrangement, the Home Sale Assistance Program is not available unless the employee is able to provide a clear title on the property or acceptable termination procedures are included with the Land Contract agreement. ARTICLE III. NEW RESIDENCE All eligible employees may utilize Homequity's Area Counseling and Homefinding Service at no cost even though they may not have owned a home at their old location. At the employee's option, Homequity will provide Homefinding counseling services, including contact with reputable real estate brokers who are made familiar with the employee's needs. A. Travel Expenses To New Location For Househunting Reimbursement will be made based upon reasonable expenses for travel, food, and lodging in accordance with Company travel expense guidelines. 1. Reimbursement will be made for one round trip for the employee and/or spouse to the new location to search for available housing. A second trip for that purpose requires the prior approval of the Human Resources Director. 2. Babysitting expenses incurred by the employee while on a househunting trip will be reimbursed up to a maximum of $35 per 24-hour day. 3. One trip for the employee and his family to the new location at actual time of moving will also be reimbursed. 4. For those employees who sell their homes without any assistance from Homequity, reimbursement will be made for one round trip for the employee and, when necessary, the spouse from the new place of residence to the former place of residence when his or their presence is required in order to consummate the sale of the employee's house and/or to settle affairs that could not be taken care of prior to the move. However, every attempt shall be made to grant a "power of attorney" to a representative in the area of the former residence to avoid such expense. B. Hotel And Temporary Living Expenses At New Location 1. Temporary living expenses for the employee shall not exceed sixty calendar days without special prior approval of the receiving Human Resources Director. 2. Temporary living expenses will be reimbursed for the family, when necessary and approved in advance by the Human Resources Director, but in no event for a period in excess of two weeks (fourteen calendar days). This is intended to cover special situations such as when, due to unforeseen circumstances, the employee has vacated his former home and cannot yet occupy his new home. C. Equity Loan An employee can apply for an equity loan, interest free, in an amount equal to Homequity's appraised value offer less the remaining mortgage balance, less 4% of the appraised value held back for contingencies. An equity loan is available for the purpose of purchasing a home or initiating construction at the new location. This loan is available whether the employee sells his home to Homequity or whether he tries to sell it himself. If he eventually sells the property to Homequity, the loan amount is deducted from the final equity due the employee from Homequity. Any remaining balance of the 4% holdback not used for any required taxes, interest, liens, etc. is paid to the employee when the property is vacant and the deed signed over to Homequity. The employee is required to sign an Equity Loan Agreement and a Promissory Note and demonstrate a definite financial need in order to receive consideration for an equity loan. (See Attachments IV and V). At Homequity's option, it reserves the right to place a lien on the property. The equity loan, which is secured by the Promissory Note, will require repayment to Homequity by the employee of the principal as well as any costs incurred by Homequity in collecting the Promissory Note should the employee default (i.e., legal costs, collection, termination). D. Home Purchase Expenses 1. Closing Costs - Miscellaneous buyer's closing costs are eligible for reimbursement by the Company up to $3,000 as follows: o Loan origination fee (but not points) o EPA endorsements o Bank application including ARM fees o Credit report o Legal and tax service fees o Land survey and flood check fees o Title search and insurance fees o Termite, gas line, or other required inspections o Recording and notary fees o Loan processing or underwriting fees o Home appraisals, only if required by lending institution o Home inspections 2. The following expenses associated with a home closing are not eligible for reimbursement: o Mortgage or discount points o Brokerage fees o Mortgage insurance o FHA and VA discount points o Interest payments o Seller's closing costs E. Duplicate Housing Expenses After an employee closes on his new residence, and if the employee is still paying a mortgage on his former home, the Company will reimburse the employee for the monthly mortgage payments of the former home for a period of up to 60 calendar days from the date of closing on his new home. The reimbursement will be for the entire payment, principal and interest. When the employee sells his property to either Homequity or to a third party, the employee will reimburse the Company the total amount of any payments which the Company may have made toward the reduction of the principal amount. Whether or not the employee had a mortgage on his home, the Company will also reimburse the employee for real estate taxes, property insurance, utility expenses, and a reasonable amount for lawn care and/or snow removal. This reimbursement for duplicate residence expenses is available for a period up to 60 calendar days from the date of closing on his new home. F. Miscellaneous Expense Allowance In those cases where the employee has, in fact, transferred to his new work location, a payment to the employee of an amount equal to 100% of one month's salary, to a maximum of $5,000 (based on the salary at the new location) will be made by the Company upon submission of an appropriate payment request form. This payment is intended to cover all other expenses (except certain tax consequences) the employee incurs in moving to the new location beyond the expenses specifically covered in this policy. The employee's FICA expense on this payment will be withheld providing the employee will not exceed the FICA income base in the year of the move. G. Movement Of Household Goods AEP has contracted with Homequity to provide experienced, efficient moving of all furniture and household effects to the residence at the new work location. The employee will be contacted by HomeExpress (Homequity's household goods moving service) once authorization has been given by the Company. 1. The services provided by HomeExpress are: o Shipment, packing and unpacking of all furniture and household goods. Within one week of the move-in date, HomeExpress will return to pick up packing boxes, if necessary. o All insurance premiums to cover loss or damage to furniture and household goods caused by fire, theft, collision, or water while in transit and/or storage. o Storage of furniture and household goods for up to 60 calendar days. Extensions of this 60-day limitation must be pre-approved by the Human Resources Director. o Limited appliance disconnection and reconnection. HomeExpress will transport items such as waterbeds, pool tables, satellite discs and swing sets but will not disassemble or reassemble. o Shipping of automobiles (one car if move is over 500 miles), boats 14 feet and less (including trailer), motorcycles, riding mowers/garden tractors and snowmobiles with the number of each within reason for the size of family. 2. HomeExpress is not authorized to ship: o Any animals (including house pets) o Trailers or campers o Farm, or heavy machinery o Furnishings from a second home o Firewood and building materials 2/9l ARTICLE IV. MORTGAGE ASSISTANCE AND COUNSELING A. A monthly mortgage interest rate differential allowance (MID) of up to $3,500 per year will be paid, for up to five years, if a higher mortgage interest rate is required on the employee's new home as compared to his previous residence. The MID for the first three years will be determined by comparing the employee's monthly payment of principal and interest for the mortgage on his present home with the monthly payment that would be required if the employee takes a mortgage on his new home in an amount and term equal to the unpaid balance and remaining term of his present mortgage, but at the interest rate used in the mortgage on his new residence. The allowance will be figured on a mortgage balance no greater than the amount of the present mortgage or the amount of the new mortgage, whichever is less. During the fourth and fifth years, the allowance will be two-thirds and one-third respectively, of the allowance computed. 1. Duplicate Mortgages If there is more than one mortgage involved for an employee's present home, or for his new home, a mortgage allowance differential will be based upon a weighted average interest rate. This weighted average interest rate is determined by dividing the employee's total annual mortgage interest by the total of the mortgage balances. For example, if an employee had a first and second mortgage as follows: Unpaid Interest Annual Balance Rate Interest 1st Mortgage $50,000 12% $6,000 2nd Mortgage 11,000 14.5% 1,595 $61,000 $7,595 $ 7,595 - $61,000 = $12.45% ...the weighted average interest rate would be 12.45% for determining the employee's differential. If the multiple mortgages are on the employee's present home, to find a (new) original principal and interest payment, use the combined unpaid balance on the remaining term of only the first mortgage. (Note that the remaining terms of the mortgages are not averaged.) The differential in the amount of the payment under the old mortgage and the computed payment under the new mortgage will be paid to the employee monthly for three years. For the fourth and fifth years, monthly payments 2/9l will be made with the above stated reductions. These mortgage allowance payments shall end sooner if the employee's old mortgage reaches maturity, if he pays off the mortgage, if he buys and moves again at the same work location, if he is relocated again and chooses to rent rather than own property, if he is transferred and rents the property to someone else, or if he leaves the AEP System for any reason (including retirement or death) within the five-year period. If an employee refinances his mortgage to obtain a lower interest rate, the allow- ance will be recalculated, but the term of the allowance will remain the same. The recalculation will use a mort- gage balance no greater than that used in the original calculation, and will use a lower balance if the amount being refinanced is lower. The employee is obligated to inform the Human Resources Department if any of the fore- going conditions occur. 2. Subsequent Relocations In the event an employee is again relocated at the request of the Company while receiving an MID (before the five-year mortgage allowance period has expired) the MID will either: (1) be recalculated, or (2) a second differential will be granted. A differential would be recalculated, and a new five-year term would begin if, in the second move, the interest rate were lower than the first move. As previously defined, when an employee transfers the first time, the lesser of his original home mortgage balance or the balance of the new mortgage, and the remaining term of the original mortgage become the base on which the first five-year differential was computed. When the employee is again transferred (within five years), and obtains an interest rate lower than he obtained as a result of the first move, but higher than his original base, the MID shall be recalculated using: (1) the newly obtained interest rate, and (2) the mortgage balance and the remaining term of the original loan. This feature protects the original five-year MID benefit. If the employee who is transferred the second time within five years obtains an interest rate higher in the second move than the first, he will receive a second differential payment for a five-year period calculated independent of the first move. He will also receive the run-out of the first differential. The total of the two concurrent differential payments will not exceed the $3,500 per year maximum. 2/9l 3. Variable Rate Mortgages In the event a transferred employee enters into a "variable rate" mortgage arrangement, he will also qual- ify for an MID. The initial calculation will be the same as for a conventional mortgage, but new computations will be made annually during the sixty-month MID benefit period. The calculation will adjust the benefit up or down depending upon the variable rate in effect on each benefit period anniversary date, and the benefit during the fourth and fifth years will be two-thirds and one- third, respectively, of the new computed allowance. 4. Leave Of Absence For an employee who goes on a leave of absence and, therefore, receives no wages from the Company, the MID benefit is discontinued for the duration of the leave. Upon return, he will finish the number of months' MID that he had remaining at the commencement of the leave. ARTICLE V. TAXABILITY OF REIMBURSED EXPENSES All reimbursements of moving expenses must be reported on the employee's W-2 as other compensation at the end of the year in which such reimbursements were received. The Company is required to withhold at statutory rates for all federal/state/local income taxes. Certain federal tax regulations require an employee to include in his gross income moving expenses for which the employee is reim- bursed by his employer (including items paid by the Company directly to a third party, such as a moving company). In addition, the one-month salary allowance under Article III, Section F above, is also includable in the employee's gross income. A. While all reimbursements are gross income to the affected employee, a "long-move" employee is entitled to an offsetting adjustment for all direct moving expenses and up to $3,000 of indirect moving expenses. A "long-move" means a transfer where the employee's new work location is at least thirty- five miles farther from his old home than his old work location. All other transfers shall be considered a "short- move". B. Direct moving expenses are the cost of moving household goods and traveling from the old to the new residence. Indirect moving expenses fall into two categories. First, there is an adjustment, limited to $1,500 for househunting and temporary living expenses. Second, there is an adjustment, limited to $3,000 minus the amount of the househunting and temporary living expenses adjustment, for the expenses connected with: (1) selling the old residence, (2) buying the new residence, and (3) settling any leases. No offsetting adjustment is permitted for the one-month salary adjustment. The offset- ting adjustment is available for the MID benefit. In effect, a long-move employee is taxed only on his indirect moving expenses in excess of $3,000 and on his miscellaneous allow- ance of one-month's salary and MID (Article IV, Section A). The law requires that a "short-move" employee is not entitled to any offsetting adjustment, so in effect he is taxed on all moving expense reimbursements and the one-month salary allowance. C. The Company will pay to the appropriate taxing authorities on behalf of the employee a tax allowance approximating the federal, state, and local income taxes (there will be no tax allowance for any additional FICA taxes) imposed as a result of the employee receiving from the Company the following benefits: (1) the one-month salary allowance, (2) househunt- ing or temporary living expenses, (3) the cost of settling any leases, (4) reimbursement of closing expenses on the old residence if the employee sells the home without Homequity's assistance, and (5) reimbursement of closing expenses associ- ated with the purchase of a new home. In the case of a short-move employee, the tax allowance will also cover his direct moving expenses. The tax allowance itself is addi- tional gross income to the employee, so the allowance will be "grossed up" to cover the additional tax resulting from the tax allowance. The tax allowance will be calculated on the basis of: (1) the employee's compensation from the Company less the amount the employee is contributing through the Tax Deferral Option of the Savings Plan, (2) the standard deduction or the portion of the moving expenses which qualify as an itemized deduction, and (3) the number of exemptions he is entitled to claim on his federal income tax return (regardless of the number claimed on his W-4 statement). The Tax Division of American Electric Power has prepared a comprehensive manual explaining the procedures to be followed in calculating and reporting the employee's tax allowance. NOTE: Relocation expenses should be submitted on an appro- priate expense form covering those expenses only. 2/9l ARTICLE VI. APPROVALS OF RELOCATIONS AND REIMBURSEMENTS A. A preliminary estimate of all expenses in connection with the transfer of the employee shall be prepared by the Company before the transfer is authorized. Approval of the transfer and the estimated moving cost by the appropriate executive of the operating unit receiving the transfer (Request for Approval of Moving Expenses - Attachment VI) shall be secured in advance, before a commitment is made to relocate the employee. It is very important that any final decision regarding the relocation of any employee be contingent on Homequity's acceptance of the home as a valid, marketable property. B. Approval requirements for various types of System relocation are as follows: Type of Move Approval Required Within Operating Company President of Operating Company Between two Operating President of Operating Companies Company Between two Subsidiary Executive Vice President of Companies/Fuel Supply Fuel Supply related Operations functionally reporting to Fuel Supply Between Fuel Supply and Executive Vice President of an Operating Company Fuel Supply or President of Operating Company Between Operating Company President of Operating and Service Corporation Company or appropriate member of Office of the Chairman Between Fuel Supply and Executive Vice President of Service Corporation Fuel Supply or appropriate member of Office of the Chairman Within the Service Appropriate member of Office Corporation of the Chairman. In the case of transfers within the Construction Division, the Senior Executive Vice President - Engineering and Construction has approval authority. 2/9l NOTE: Any exceptions to this policy or home disposal procedures require the approval of the Executive Vice President - Operations. All requests for exceptions are to be submitted, in writing, to the Assistant Vice President - Compensation and Benefits. ARTICLE VII. ADMINISTRATION OF POLICY The Human Resources Director is responsible for the administra- tion of the Relocation Policy. A. Before a job or transfer is offered to an employee, the employee shall be interviewed by the Human Resources Depart- ment at the proposed location for the purpose of thoroughly explaining the application of this Policy. B. After an employee expresses a definite interest in a poten- tial transfer but before a final offer for transfer is extended, the Company receiving the transferee will give Homequity the appraisal authorization by telephone and follow up in writing (see Attachment III). Assuming the house is marketable, the offer process will be continued. In addition, the employee will be requested to inform Homequity of the original purchase price of his home and the outstand- ing balance of any existing mortgages on the property. NOTE: No job offer shall be formally extended until appro- priate approvals are obtained as outlined in Article VI. C. At the time a formal offer of transfer is extended, the employee should be informed of the price Homequity will pay for his present home or the amount Homequity will loan him pending the sale of his present home. The employee should use the Homequity offer to assist him in determining whether he accepts the transfer, whether to sell his house to Homequity or through a broker, etc. D. In the case of intercompany transfers, the Company to which the employee is transferred will bear the cost of the transfer. E. All expenses pertaining to the move shall be approved by the Human Resources Director at the new location. F. The Human Resources Departments at the old and new locations will offer the employee such assistance and advice as shall be required. For Salary Grades 10, 11, & 12 in ATTACHMENT I Service Corporation - Columbus and 2/9l Grades 20-25 all other locations AMERICAN ELECTRIC POWER RELOCATION SERVICES - EMPLOYMENT CONTRACT THIS AGREEMENT, made and entered into this ____________ day of _________________, 19___ by and between (Company Name) , a corporation (hereinafter called "Company", and ______________________ of ______________________ (hereinafter called "Employee"). WITNESSETH THAT WHEREAS, Employee proposes to accept employment as an exempt employee of the Company at ______________________, and WHEREAS, Employee, in order to accept such position, must move his place of residence to ______________________ or its environs, and WHEREAS, Company is willing to pay the moving and incidental expenses of Employee providing Employee agrees to certain conditions, NOW, THEREFORE, for and in consideration of the agreements hereinafter contained, Company and Employee do hereby agree as follows: 1. Company will pay the moving and incidental expenses of Employee in accordance with Article I, Section B.2, of the Exempt Employees and Nonexempt Supervisors Relocation Expense Policy. 2. Should Employee voluntarily terminate his/her employment with the Company within three years from the date of his/her employment, Employee, upon request of the Company, agrees to reimburse Company, promptly upon such termination, for all payments made to Employee or in his/her behalf pursuant to Article I, Section B.2, of the Exempt Employees and Nonexempt Supervisors Relocation Expense Policy except those made pursuant to Article III, Sections A, B, and G. ATTACH. I-Page 2 2/9l IN WITNESS WHEREOF, the parties hereto have executed this agreement, the day and year first above written. (Company Name) (Company Representative) (Date) By (Employee) (Date) For Salary Grades 13 and Above in ATTACHMENT I-A Service Corporation - Columbus and 2/9l Grades 26 and Above All Other Locations AMERICAN ELECTRIC POWER RELOCATION SERVICES - EMPLOYMENT CONTRACT THIS AGREEMENT, made and entered into this ______________ day of ________________, 19___ by and between (Company Name) , a corporation (hereinafter called "Company", and ____________________ of ____________________ (hereinafter called "Employee"). WITNESSETH THAT WHEREAS, Employee proposes to accept employment as an exempt employee of the Company at ____________________, and WHEREAS, Employee, in order to accept such position, must move his place of residence to ____________________ or its environs, and WHEREAS, Company is willing to pay the moving and incidental expenses of Employee providing Employee agrees to certain conditions, NOW, THEREFORE, for and in consideration of the agreements hereinafter contained, Company and Employee do hereby agree as follows: 1. Company will pay the moving and incidental expenses of Employee in accordance with Article I, Section B.3, of the Exempt Employees and Nonexempt Supervisors Relocation Expense Policy. 2. Should Employee voluntarily terminate his/her employment with the Company within three years from the date of his/her employment, Employee, upon request of the Company, agrees to reimburse Company, promptly upon such termination, for all payments made to Employee, or in his/her behalf pursuant to Article I, Section B.3, of the Exempt Employees and Nonexempt Supervisors Relocation Expense Policy except those made pursuant to Article III, Sections A, B, and G. ATTACH. I-A-Page 2 2/9l IN WITNESS WHEREOF, the parties hereto have executed this agreement, the day and year first above written. (Company Name) (Company Representative) (Date) By (Employee) (Date) Attachment II 3/9l AMERICAN ELECTRIC POWER REQUEST TO GRANT THE SPECIAL RELOCATION POLICY TO AN ELIGIBLE NEW HIRE (ARTICLE I, SECTION B.3) Company/Department __________________________________________________________ Prospective Employee's Name _________________________________________________ Salary Proposed Position _____________________________________ Grade_______________ Proposed Date of Hire _______________________________________________________ To be Relocated From ________________________________________________________ (City and State) Estimated Moving Expenses: 1. MOVING HOUSEHOLD GOODS (a) HomeExpress Fee ($150 per move and $__________ $100 for storage) (b) Other: __________________________ $__________ TOTAL MOVING HOUSEHOLD GOODS . . . . . . . . . . . . .$____________ 2. TRAVEL EXPENSES RELATED TO MOVE (Accommodations, Meals, and Transportation) (a) Househunting trip(s) to new location plus trip at time of move $__________ (b) Expenses at new location while relo- cating. . .Estimated days __________ $__________ (c) Other: ____________________________ $__________ TOTAL TRAVEL EXPENSES . . . . . . . . . . . . . . . .$____________ 3. DISPOSAL OF RESIDENCE *(Average of Home Appraisals - $___________) *Not to be included in total (a) Homequity Administrative and Sales Expense Fees (19% of home's appraised value) $__________ (b) Other: _____________________________ $__________ TOTAL DISPOSAL OF RESIDENCE . . . . . . . . . . . . . $____________ ATTACH. II-Page 2 2/9l 4. CLOSING COSTS ON HOME PURCHASE ($3,000 MAXIMUM) . . . . . . . . . . . . . . . . . . . . .$____________ 5. ESTIMATED TAX LIABILITY . . . . . . . . . . . . . . . . .$____________ 6. TOTAL ESTIMATED COST OF MOVING (SUM OF 1-6) . . . . . . .$____________ 7. EIGHT TIMES EMPLOYEE'S MONTHLY SALARY AT NEW LOCATION . .$____________ This request to employ and make available to the new employee the benefits defined in Article I, Section B.3, of this Relocation Expense Policy is made for the following reasons: (As part of explanation, indicate whether consideration was given to promoting from within the Company or employing in the local labor market, thus avoiding the necessity to relocate the applicant.) Prepared By ____________________________________________ Date______________ APPROVALS: Human Resources Director ______________________________ Date______________ Appropriate Member Office of The Chairman or Company President ______________________________ Date______________ Assistant Vice President - Compensation and Benefits ______________________________ Date______________ Chairman and Chief Executive Officer ______________________________ Date______________ Attachment III 2/9l Return Completed Form to: PHH Homequity 222l Camden Court Oakbrook, IL 6052l AMERICAN ELECTRIC POWER HOMEQUITY RELOCATION ASSISTANCE AUTHORIZATION FORM (Confirmation of Verbal Request) 1. (Company Name) hereby requests that Homequity provide the following relocation assistance and services as specified for the following employee: ___ ___ ___ Home Sale Assistance ___ Destination Area Counseling & Home- finding Service ___ ___ HomeExpress Services Employee Full Name: ____________________________________________________ Current Address: ____________________________________________________ Number and Street Apt No. ____________________________________________________ City and Town State Zip Code ___ ___ Employee is: ___ current employee ___ new hire 2. The above-named employee is eligible for Homequity relocation assistance and services as specified above, per terms of the Agreement between Homequity and (Company Name) . The relocation is: From: ____________________________ To:______________________________ Present System Company Receiving System Company ____________________________ ______________________________ Division/Plant Location Division/Plant Location ______________________________ Billing Code 3. AEP Company Approval By: _______________________________________________ Name (Type or Print) and Title _______________________________________________ Signature Attachment IV 2/9l AMERICAN ELECTRIC POWER PHH HOMEQUITY, INC. EQUITY LOAN AGREEMENT ____________________________________________________________________________ (This box for PHH Homequity use only) Employee Name ________________________________ Property Number _________ Last First M.I. Transferred to ___________________ Div. ___________ Loan Amount $______ Check Number _________________________________ Date Issued _____________ PHH Homequity Approval __________________________________________________ ____________________________________________________________________________ As part of the relocation services provided by PHH Homequity (hereinafter "Homequity"), you may receive a loan based on the amount of equity in your present home; equity being determined by PHH Homequity's appraised value less the remaining mortgage balance on your property, less 4% of appraised value held back for contingencies. In order to secure this loan, you (and your spouse) must complete the "Employee" section of this Agreement, sign it and the attached Promissory Note, and return them to Homequity. To be Completed by Employee (Please Type or Print) Employee Name _______________________________________ ___________________ Last First M.I. Employee Social Security No. Spouse's Name _______________________________________ Last First M.I. Transferred From Home Address_______________________________________________ Street ______________________________________________ City State Zip Code Transferred From: ________________________________ Division________________ AEP Company Attach. IV-Page 2 2/9l 1. Loan Amount The loan amount shall be equal to the equity in your home, which shall be the appraised value of your home as determined by Homequity less the remaining mortgage balance on your property, less 4% of the appraised value to be held as a reserve for contin- gencies. The exact total of this computation shall be rounded upward to the nearest $100 increment, which rounded figure shall constitute your Equity Loan amount. Any remaining balance of the 4% holdback not used for any required taxes, interest, liens, etc., is paid to the employee when the property is vacant and the deed signed over to Homequity. 2. Acknowledgement Your execution of this Agreement and Promissory Note serves to acknowledge your indebtedness. When you have executed this Agreement and Promissory Note and returned both to Homequity, and when Homequity has computed the amount of your Equity Loan, you shall be forwarded a check in that amount along with a copy of this Agreement and Promissory Note. Your endorsement of said check will also acknowledge your indebtedness according to the terms of this Agreement. 3. Term You shall repay in full the amount of your Equity Loan on or before the earlier to occur of: (a) the expiration of an offer by Homequity to purchase your home; (b) the closing of a sale of your home to a third-party buyer; (c) failure to consummate a sale under a closing service program; (d) cancellation of your relocation by your employer; (e) termination of your employment for any reason whatsoever; or (f) the effective date of termination of the Relocation Management Agreement between Homequity and American Electric Power or the Equity Loan Administration Service contained therein. 4. Payment (a) If Homequity purchases your home, the principal sum of this loan, which will then be due, shall be deducted from any equity due you and if there is a deficit, it shall become immediately due and payable to Homequity. In the event that such equity is in excess of the Equity Loan amount, Homequity shall send to you a check for such excess and a copy of the cancelled Equity Loan Agreement and Promissory Note. (b) Otherwise, payment shall be made by certified check or money order at the office of Homequity. ATTACH. IV-Page 3 2/9l (c) In the event that you receive any sums as the result of an agreement to sell your home prior to the events specified in paragraph 3 above, you hereby promise to pay all such sums to Homequity immediately on account of and up to the amount of your indebtedness. 5. Security In order to secure repayment of your indebtedness, you hereby assign, transfer, and set over unto Homequity all your rights, title, and interest in and to any agreement for the sale of your home which you have entered into or may in the future enter into, and in and to all sums due or to become due thereunder or which may be payable on account of the sale of said home. Any such sums received by you shall be held by you in trust as the property of Homequity, and shall be paid by you to Homequity as above provided or on demand by Homequity, up to the amount of your indebtedness to Homequity under this Agreement. 6. Conditions and Representations In consideration of Homequity's entering into this Agreement: (a) You represent that the loan will be used solely for the purpose of purchasing a new principal residence in connection with a transfer to a new principal place of employment and that neither the former nor the new principal residence is or will be located outside the United States or United States possession. (b) You represent that you intend to sell your home and have taken appropriate action, such as listing with brokers, or will do so within a reasonable time. You agree that you will notify Homequity in writing when you enter into an agreement to sell your home, and again when title passes. (c) You represent that you or your spouse have no intention to convert your former principal residence to business or investment use. (d) You agree that any loss which you sustain because of non- fulfillment of contract to sell and purchase your home by either you, the buyer, or any other third party, is your responsibility, and that in such event you will be obligated to repay your indebtedness to Homequity. (e) You agree that the obligations and benefits under this Equity Loan are personal to you and may not be transferred, assigned, or otherwise disposed of to any person except your employer. ATTACH. IV-Page 4 2/9l (f) You agree that your home will not be made subject to any further indebtedness by your affirmative act subsequent to this Equity Loan without the prior written approval of Homequity. (g) You agree to contemporaneously execute the attached Promissory Note, without which this Equity Loan Agreement shall not be binding on Homequity. (h) To comply with I.R.S. regulations, you hereby represent that you intend to and will itemize your deductions on your Federal Income Tax Returns. If the foregoing terms and conditions of payment of this Agreement are acceptable to you, please indicate by signing below. Employee Signature ________________________________ Date _____________ Spouse Signature ________________________________ Date _____________ ATTACHMENT V 2/9l AMERICAN ELECTRIC POWER PHH HOMEQUITY, INC. PROMISSORY NOTE $____________________ Date _____________ For value received, the undersigned employee (and spouse) (Makers) hereby promise to pay to PHH Homequity, Inc. (herein after "Homequity"), or its order, at its designated office, the principal sum of _____________________ Dollars ($ ) on or before the earlier to occur of (a) the closing of a sale of the Makers' home pursuant to a Contract of Sale between the Makers, as sellers, and a third party, as buyer; (b) the expiration of an offer by Homequity or a corporate affiliate thereof to purchase Makers' home; (c) failure to consummate a sale referred to in item (b) just above; (d) cancellation of Makers' relocation; (e) termination of employment with the Company who is sponsoring the Makers' relocation for any reason whatsoever; (f) the effective date of termination of the Relocation Management Agreement between Homequity and American Electric Power or the Equity Loan Administration Service contained herein. In the event that Homequity or a corporate affiliate thereof purchases the Makers' home, the principal sum due shall be deducted from the equity due the Makers under the applicable contracts, and the deficit, if any, shall become immediately due and payable to Homequity. Makers hereby waive resentment and notice of dishonor and agree that the obligations and benefits under this Promissory Note are personal to them and may not be transferred, assigned, or otherwise disposed of to any person except Makers' employer. This instrument shall be governed by the laws of the State of Connecticut. Employee (Maker) ______________________________ Spouse (Maker) ______________________________ Date ______________________________ Accepted and Approved by PHH Homequity ________________________ Date ATTACHMENT VI 2/9l REQUEST FOR APPROVAL OF MOVING EXPENSES This is to request your approval of the transfer and the estimated moving expenses for the employee indicated below. GENERAL INFORMATION 1. Employee's Name _______________________________ Soc. Sec. No. ___________________ 2. Tax Status (check one): married ___ single ___ head of household ___ No. of tax exemptions claimed on your Federal tax return ___ 3. Proposed transfer from _____________________________ to _______________________________ 4. An estimated distance of ______________ miles 5. Distance from old to new work location _________ miles 6. Distance from old residence to old work location _______ miles 7. Increase in commuting distance (Line 5 minus Line 6) ______ miles 8. Present title __________________________________________ 9. Proposed title __________________________________________ 10. Proposed date of transfer ___________________ 11. Name and address of employer at new work location: _________________________________________________________ 12. Name and address of employer at old work location: _________________________________________________________ 13. City and state of old residence _________________________________________________________ 14. City and state (if known) of new residence _________________________________________________________ l5. Is move within state? (yes or no) ____________ l6. Is employee eligible for tax gross up? (yes or no) ______ Request for Approval ATTACH. VI-Page 2 of Moving Expense 3/9l RELOCATION EXPENSE BREAKDOWN NOTE: If line 7 below is more than line 8, this estimated cost of transfer must be approved by the Executive Vice President - Operations, per Article VI, Section C, of the AEP Relocation Expense Policy. 1. MOVING HOUSEHOLD GOODS (a) HomeExpress Fee ($150 per move plus $100 for storage, if necessary) $__________ (b) Packing, Moving, Unpacking, and Insurance $__________ (c) Other: ____________________________ $__________ TOTAL MOVING HOUSEHOLD GOODS $_________ 2. TRAVEL EXPENSES RELATED TO MOVE (Accommodation, Meals, and Transportation) (a) Househunting trip(s) to new location plus trip at time of move $__________ (b) Expenses at new location while relocating Estimated days ________ $__________ (c) Other: ____________________________ $__________ TOTAL TRAVEL EXPENSES $_________ 3. DISPOSAL OF RESIDENCE (a) Homequity Administrative and Sales Expense Fees (19% of home's appraised value) $__________ *(Average of Home Appraisals $_______) (b) Other: _____________________________ $__________ *Not to be included in Total TOTAL DISPOSAL OF RESIDENCE $__________ 4. CLOSING COSTS ON HOME PURCHASE ($3,000 MAXIMUM) $__________ 5. MISCELLANEOUS ALLOWANCE $__________ 6. ESTIMATED TAX LIABILITY $__________ 7. TOTAL ESTIMATED COST OF MOVING (sum of 1 - 6) $__________ 8. EIGHT TIMES EMPLOYEE'S MONTHLY SALARY AT NEW LOCATION $__________ Request for Approval ATTACH. VI-Page 3 of Moving Expense 2/9l This transfer is requested for the following reasons. (As part of explanation, indicate whether consideration was given to transferring or promoting an employee which would not involve a relocation of residence): _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ Submitted by _____________________________ Date _____________________________ Approved by _____________________________ Date _____________________________ EXHIBIT G SEE EXHIBIT 27 FOR FINANCIAL DATA SCHEDULES. EXHIBIT H Organization chart showing the relationship of each EWG or foreign utility company in which the system holds an interest to other system companies. American Electric Power Company, Inc. | | AEP Resources, Inc. | | AEP Resources International, Ltd. Exhibit I AEP Resources International, Limited (AEPRI) was organized June 24, 1994 and on July 12,1994 issued one (1) share of $1.00 par value common stock for $5,000 to AEP Resources, Inc. which is a wholly-owned subsidiary of American Electric Power Company, Inc. To date, audited financial statements are not available, therefore unaudited statements are included in this filing. At the next U5S filing, for the period ending December 31, 1995, it is expected that the audited balance sheet, income statement, and cash flow statement of AEPRI will be available to be included. The unaudited financial statements follow. AEP RESOURCES INTERNATIONAL, LIMITED CONTENTS Page Statements of Income and Retained Earnings 1 Balance Sheet 2 Statement of Cash Flows 3 Notes to Financial Statements 4 PAGE 1 AEP RESOURCES INTERNATIONAL, LIMITED STATEMENT OF INCOME FOR THE PERIOD JUNE 24, 1994 THROUGH DECEMBER 31, 1994 (UNAUDITED) (in thousands) REVENUES $ - EXPENSES 4 NET LOSS $(4) ________________________________________ STATEMENT OF RETAINED EARNINGS FOR THE PERIOD JUNE 24, 1994 THROUGH DECEMBER 31, 1994 (UNAUDITED) (in thousands) BALANCE AT BEGINNING OF PERIOD $ - NET LOSS (4) BALANCE AT END OF PERIOD* $(4) *Parentheses Denote Accumulated Deficit. See Notes to Financial Statements. PAGE 2 AEP RESOURCES INTERNATIONAL, LIMITED BALANCE SHEET DECEMBER 31, 1994 (UNAUDITED) (in thousands) ASSETS CURRENT ASSETS - Cash $ 1 TOTAL ASSETS $ 1 CAPITALIZATION AND LIABILITIES CAPITALIZATION: Common Stock - Par Value $1: Authorized - 50,000 Shares Outstanding - 1 Share Paid-in Capital $ 5 Accumulated Deficit (4) TOTAL CAPITALIZATION 1 TOTAL CAPITALIZATION AND LIABILITIES $ 1 See Notes to Financial Statements. PAGE 3 AEP RESOURCES INTERNATIONAL, LIMITED STATEMENT OF CASH FLOWS FOR THE PERIOD JUNE 24, 1994 THROUGH DECEMBER 31, 1994 (UNAUDITED) (in thousands) OPERATING ACTIVITIES - Net Loss $(4) FINANCING ACTIVITIES - Issuance of Common Stock 5 NET INCREASE IN CASH 1 CASH AT BEGINNING OF PERIOD - CASH AT END OF PERIOD $ 1 See Notes to Financial Statements. PAGE 4 AEP RESOURCES INTERNATIONAL, LIMITED NOTES TO FINANCIAL STATEMENTS (UNAUDITED) 1. SIGNIFICANT ACCOUNTING POLICIES: Organization AEP Resources International, Limited (the Company or AEPRI) was organized and incorporated under the laws of the Cayman Islands on June 24, 1994 as a wholly-owned subsidiary of AEP Resources, Inc. (AEPRES), which is a subsidiary of American Electric Power Company, Inc. (AEP Co., Inc.), a public utility holding company. The purpose of the Company is to develop, finance, construct, commission, operate, maintain and administer independent power projects. An agreement of intent was signed by the Company which may result in a joint venture with China to construct two 1300 megawatt coal-fired generating units (The Project) in Suizhong, Liaoning Province, China. The Company filed with the Federal Energy Regulatory Commission for authority to be an exempt wholesale generator to operate and own an interest in the Project. AEP Co., Inc. and AEPRES have filed with the Securities and Exchange Commission under the Public Utility Holding Company Act of 1935 for authority to issue up to $300 million of debt or equity securities which may be invested in the Project and other independent power projects. 2. COMMON STOCK AND OTHER PAID-IN CAPITAL AEPRI is authorized to issue 50,000 shares of $1.00 par value common stock. On July 12, 1994, AEPRI issued one (1) share of $1.00 par value common stock to AEPRES for $5,000. EX-27 2 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S
OPUR1 0000004904 AMERICAN ELECTRIC POWER COMPANY, INC. 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 11,348,110 735,042 1,281,438 398,257 1,949,852 15,712,699 1,262,527 1,641,522 1,325,581 4,229,630 590,300 233,240 4,686,648 42,535 0 274,450 293,671 85 306,947 93,252 4,961,941 15,712,699 5,504,670 235,043 4,337,407 4,572,450 932,220 11,485 943,705 388,998 500,012 54,695 500,012 443,101 270,745 977,725 $2.71 $2.71 Represents preferred stock dividend requirements of subsidiaries; deducted before computation of net income.
EX-27 3 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 0000857571 AEP GENERATING COMPANY 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 432,264 6 42,862 29,282 0 504,414 1,000 47,735 4,268 53,003 0 0 53,340 7,200 0 0 55,000 0 2,019 408 333,444 504,414 236,041 4,344 215,316 219,660 16,381 3,413 19,794 9,684 10,110 0 10,110 7,181 0 25,844 0 0 All common stock owned by parent company; no EPS required.
EX-27 4 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 0000006879 APPALACHIAN POWER COMPANY 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 2,770,875 48,928 301,764 59,015 403,906 3,584,488 260,458 504,408 206,361 971,227 190,300 55,000 1,228,911 2,425 0 120,400 0 85 32,984 10,154 973,002 3,584,488 1,535,500 51,672 1,278,610 1,330,282 205,218 (4,716) 200,502 98,157 102,345 15,660 86,685 108,140 75,815 218,002 0 0 All common stock owned by parent company; no EPS required.
EX-27 5 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 0000022198 COLUMBUS SOUTHERN POWER COMPANY 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 1,845,340 26,744 183,821 63,418 475,019 2,594,342 41,026 565,642 46,976 653,644 150,000 0 917,608 0 0 0 80,000 0 19,562 4,890 768,638 2,594,342 1,031,151 46,807 798,476 845,283 185,868 7,030 192,898 83,053 109,845 12,084 97,761 68,788 68,471 194,544 0 0 All common stock owned by parent company; no EPS required.
EX-27 6 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 0000050172 INDIANA MICHIGAN POWER COMPANY 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 2,609,366 468,513 286,534 70,104 481,212 3,915,729 56,584 734,511 216,658 1,007,753 135,000 52,000 929,887 0 0 50,600 140,000 0 113,586 39,003 1,447,900 3,915,729 1,251,309 47,876 981,702 1,029,578 221,731 7,428 229,159 71,688 157,471 11,650 145,821 106,608 43,564 253,340 0 0 All common stock owned by parent company; no EPS required.
EX-27 7 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 0000055373 KENTUCKY POWER COMPANY 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 591,928 6,533 54,279 11,049 50,519 714,308 50,450 68,750 89,173 208,373 0 0 253,583 20,850 0 34,300 0 0 6,207 1,864 189,131 714,308 307,443 3,849 257,505 261,354 46,089 (102) 45,987 20,714 25,273 0 25,273 21,396 19,090 46,321 0 0 All common stock owned by parent company; no EPS required.
EX-27 8 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 0000073986 OHIO POWER COMPANY 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 2,860,495 120,856 475,902 154,501 521,855 4,133,609 321,201 463,100 483,222 1,267,523 115,000 126,240 1,188,319 85 0 17,150 670 0 102,421 25,314 1,290,887 4,133,609 1,738,726 82,942 1,410,911 1,493,853 244,873 7,722 252,595 89,969 162,626 15,301 147,325 138,468 63,805 297,561 0 0 All common stock owned by parent company; no EPS required.
EX-27 9 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 0000055986 KINGSPORT POWER COMPANY 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 44,785 162 11,244 12 4,513 60,716 4,100 5,800 6,882 16,782 0 0 20,000 3,275 0 0 2,000 0 646 158 17,855 60,716 81,804 558 76,311 76,869 4,935 158 5,093 1,946 3,147 0 3,147 1,684 0 4,603 0 0 All common stock owned by parent company; no EPS required.
EX-27 10 ARTICLE OPUR1 FIN. DATA SCH. FOR U5S WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 0000106617 WHEELING POWER COMPANY 1,000 12-MOS DEC-31-1994 DEC-31-1994 PER-BOOK 52,655 2,636 10,828 1,476 17,127 84,722 2,428 12,596 6,016 21,040 0 0 15,000 8,700 0 0 11,000 0 3,179 498 25,305 84,722 79,917 (476) 76,663 76,187 3,730 (10) 3,720 2,657 1,063 0 1,063 2,468 0 (5,994) 0 0 All common stock owned by parent company; no EPS required.
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