EX-99.1 3 dex991.htm AEP 2003 EARNINGS GUIDANCE DETAIL AEP 2003 Earnings Guidance Detail

Exhibit 99.1

 

AEP

2003 Earnings Breakdown

 

    

($ millions)

     

EPS

  

UTILITY OPERATIONS:

              

Gross Margin:

              

Retail Margin - Regulated Integrated Utilities

   

3,021

 

       

Ohio Companies

   

1,937

 

       

Texas Wires

   

771

 

       

Texas Supply

   

310

 

       

FERC Municipal and Co-op & Other Customers

   

232

 

       

System Sales

   

355

 

       

Trading

   

—  

 

       

Transmission Revenue - 3rd Party

   

409

 

       

Other Operating Revenue

   

234

 

       
    
      

Total Gross Margin

   

7,269

 

       

Operations & Maintenance

   

(2,886

)

       

Depreciation & Amortization

   

(1,276

)

       

Taxes Other than FIT

   

(811

)

       

Capital Cost and Other

   

(638

)

       

Federal Income Taxes

   

(578

)

       
    
      

Net Earnings Utility Operations

   

1,080

 

   

2.86

 

    
  

WHOLESALE INVESTMENTS:

              

AEPES (Gas Holdco)/Trading

   

(20

)

       

MEMCo

   

9

 

       

AEP Coal

   

5

 

       

UK Generation/Trading

   

(103

)

       

CSWE/Wind

   

(25

)

       
    
      

Total Wholesale Investments

   

(134

)

   

(0.36

)

    
  

OTHER INVESTMENTS:

              

AEP Communications

   

(15

)

       

CSW International

   

(4

)

       

Parent Company Expenses

   

(17

)

       

Other

   

(42

)

       
    
      

Total Other Investments

   

(78

)

   

(0.21

)

    
      

ON-GOING EARNINGS

   

868

 

   

2.30

 

 

GUIDANCE RANGE OF $2.20 TO $2.40