-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VixaqyPuh0wpAm9n0/YlxqlLNS0ARjDneHYwLc/ihFVHa3mvJiSGKXDl1aFsLiYG sahv7NdvPSK+k3IK8uV3BQ== 0000912057-01-518027.txt : 20010531 0000912057-01-518027.hdr.sgml : 20010531 ACCESSION NUMBER: 0000912057-01-518027 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010530 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AES CORPORATION CENTRAL INDEX KEY: 0000874761 STANDARD INDUSTRIAL CLASSIFICATION: COGENERATION SERVICES & SMALL POWER PRODUCERS [4991] IRS NUMBER: 541163725 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: SEC FILE NUMBER: 070-09465 FILM NUMBER: 1650956 BUSINESS ADDRESS: STREET 1: 1001 N 19TH ST STREET 2: STE 2000 CITY: ARLINGTON STATE: VA ZIP: 22209 BUSINESS PHONE: 7035221315 35-CERT 1 a2050760z35-cert.txt 35-CERT UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ) The AES Corporation ) File No. 70-9779 ) Certificate Pursuant to Rule 24 and Release No. 35-27363 Under the Public Utility Holding Company Act of 1935 On March 23, 2001, the Securities and Exchange Commission ("SEC") issued an order, Release No. 35-27363 in File No. 70-9779 ("Exemption Order"), granting an exemption under Section 3(a) of the Public Utility Holding Company Act of 1935, as amended, to The AES Corporation ("AES") in relation to its proposed acquisition of IPALCO Enterprises, Inc. ("IPALCO"), which has a public-utility subsidiary company, Indianapolis Power & Light Company ("IPL"). The Exemption Order required AES to file certain certificates (as described in the Exemption Order) under Rule 24 within 60 days of the close of each calendar quarter for a period of two years beginning March 31, 2001 and every six months thereafter. A certificate complying with the Exemption Order is set forth below (as an attachment) for the period ending March 31, 2001. AES is separately filing a certificate in File No. 70-9465 as required by the Commission's order in Release No. 35-27063 in connection with the AES acquisition of CILCORP Inc. ("CILCORP"), which has a public-utility subsidiary company, Central Illinois Light Company ("CILCO"). Respectfully submitted, /s/ Earle H. O'Donnell -------------------------------- Earle H. O'Donnell Andrew B. Young Hugh E. Hilliard Dewey Ballantine LLP 1775 Pennsylvania Avenue, N.W. Washington, D.C. 20006 Dated: May 30, 2001 THE AES CORPORATION SEC FILING PURSUANT TO SECTION 3(a)(5) EXEMPTION ORDER QUARTER ENDED MARCH 31, 2001 ITEM (1) PER EXEMPTION ORDER (STATEMENTS ATTACHED): 1) Statement of Income of The AES Corporation for the 12 months ended March 31, 2001 2) Balance Sheet of The AES Corporation at March 31, 2001 3) Statement of Income of IPALCO for the 12 months ended March 31, 2001 4) Statement of Income of IPL for the 12 months ended March 31, 2001 5) Consolidated Balance Sheet of IPALCO at March 31, 2001 6) Consolidated Balance Sheet of IPL at March 31, 2001 7) Statement of Income of CILCORP for the 12 months ended March 31, 2001 8) Statement of Income of CILCO for the 12 months ended March 31, 2001 9) Consolidated Balance Sheet of CILCORP at March 31, 2001 10) Consolidated Balance Sheet of CILCO at March 31, 2001 THE AES CORPORATION CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO(1)) FOR THE TWELVE MONTHS ENDED MARCH 31, 2001 - PRO RATA BASIS
- -------------------------------------------------------------------------------- TWELVE MONTHS ENDED 3/31/2001 - -------------------------------------------------------------------------------- ($ in millions, except per share amounts) REVENUES: Sales and services $ 8,421 OPERATING COSTS AND EXPENSES: Cost of sales and services 6,258 Selling, general and administrative expenses 78 --------------- TOTAL OPERATING COSTS AND EXPENSES 6,336 --------------- OPERATING INCOME 2,085 OTHER INCOME AND (EXPENSE): Interest expense, net (1,149) Other income (expense) (173) Nonrecurring severance and transaction costs (94) Gain on sale of investment (112) --------------- INCOME BEFORE INCOME TAXES 557 Income tax provision 77 --------------- NET INCOME $ 480 ===============
- -------------- (1) IPALCO included only for the first quarter of 2001. 3 THE AES CORPORATION PRO RATA CONSOLIDATED BALANCE SHEET (INCLUDES CILCORP AND IPALCO) MARCH 31, 2001 ($ in millions) ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,889 Short-term investments 327 Accounts receivable, net 1,677 Inventory 470 Receivable from affiliates 26 Deferred income taxes 189 Prepaid expenses and other current assets 601 -------- TOTAL CURRENT ASSETS 5,179 PROPERTY, PLANT AND EQUIPMENT Land 582 Electric generation and distribution assets 21,419 Accumulated depreciation and amortization (2,739) Construction in progress 3,089 -------- PROPERTY, PLANT AND EQUIPMENT, NET 22,351 OTHER ASSETS Deferred financing costs, net 410 Project development costs 153 Investments in and advances to affiliates 3,865 Debt service reserves and other deposits 725 Excess of Cost over Net Assets Acquired 2,556 Other assets 2,329 -------- TOTAL OTHER ASSETS 10,038 TOTAL $ 37,568 =========== LIABILITIES & STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 754 Accrued interest 457 Accrued and other liabilities 1,408 Other notes payable - current portion 301 Project financing debt - current portion 2,415 ----- TOTAL CURRENT LIABILITIES 5,335 LONG-TERM LIABILITIES Recourse Debt-LT 4,403 Project Financing Debt-LT 13,968 Other notes payable-LT 10 Deferred Tax Liability 2,043 Other long-term liabilities 2,739 -------- TOTAL LONG-TERM LIABILITIES 23,163 TECONS 1,228 STOCKHOLDERS' EQUITY Common Stock 5 Contributed capital / Additional paid in capital 5,409 Retained earnings 4,592 Accumulated other comprehensive loss (2,164) -------- TOTAL STOCKHOLDERS' EQUITY 7,842 TOTAL $ 37,568 ===========
4 1ST QUARTER IPALCO ENTERPRISES, INC. AND SUBSIDIARIES (Unaudited)
- ----------------------------------------------------------------------------------------------------------- STATEMENTS OF CONSOLIDATED INCOME - ----------------------------------------------------------------------------------------------------------- THREE MONTHS ENDED TWELVE MONTHS ENDED (IN THOUSANDS EXCEPT PER SHARE AMOUNTS) MARCH 31 MARCH 31 2001 2000 2001 2000 - ----------------------------------------------------------------------------------------------------------- UTILITY OPERATING REVENUES: Electric $209,052 $200,528 $839,479 $811,253 Steam 0 10,561 17,019 33,657 - ----------------------------------------------------------------------------------------------------------- Total Operating Revenues 209,052 211,089 856,498 844,910 - ----------------------------------------------------------------------------------------------------------- UTILITY OPERATING EXPENSES: Operation: Fuel 46,283 47,577 189,409 175,535 Other 93,723 35,839 212,359 142,430 Power purchased 574 502 13,279 29,609 Purchased steam 0 1,674 3,585 6,370 Maintenance 19,578 17,262 81,753 71,918 Voluntary Early Retirement Program Benefit Costs 0 0 62,007 0 Depreciation and amortization 27,571 27,555 111,061 108,445 Taxes other than income taxes 10,358 9,300 38,405 34,555 Income taxes - net 645 23,210 46,267 87,627 - ----------------------------------------------------------------------------------------------------------- Total Operating Expenses 198,732 162,919 758,125 656,489 - ----------------------------------------------------------------------------------------------------------- UTILITY OPERATING INCOME 10,320 48,170 98,373 188,421 - ----------------------------------------------------------------------------------------------------------- OTHER INCOME AND (DEDUCTIONS): Allowance for equity funds used during construction 110 681 1,502 1,701 Other - net (11,585) (3,841) (18,943) (223) Gain on sale of thermal assets 0 0 30,583 0 Gain on sale of available for sale securities, 0 101,634 632 101,634 net of expenses Income taxes - net 2,293 (39,216) (3,313) (35,585) - ----------------------------------------------------------------------------------------------------------- Total Other Income (Deductions) - Net (9,182) 59,258 10,461 67,527 - ----------------------------------------------------------------------------------------------------------- INCOME BEFORE INTEREST AND OTHER CHARGES 1,138 107,428 108,834 255,948 - ----------------------------------------------------------------------------------------------------------- INTEREST AND OTHER CHARGES: Interest 10,030 14,631 49,429 62,000 Allowance for borrowed funds used during construction (55) (333) (683) (942) Preferred stock transactions 803 803 3,213 3,213 - ----------------------------------------------------------------------------------------------------------- Total Interest and Other Charges - Net 10,778 15,101 51,959 64,271 - ----------------------------------------------------------------------------------------------------------- INCOME BEFORE EXTRAORDINARY LOSS ON EARLY (9,640) 92,327 56,875 191,677 RETIREMENT OF DEBT - ----------------------------------------------------------------------------------------------------------- EXTRAORDINARY LOSS ON EARLY RETIREMENT OF DEBT 0 0 (4,259) 0 - - NET OF TAXES - ----------------------------------------------------------------------------------------------------------- NET INCOME ($9,640) $92,327 $52,616 $191,677 =========================================================================================================== =========================================================================================================== WEIGHTED AVERAGE COMMON SHARES OUTSTANDING N/A 85,702 N/A 85,717 =========================================================================================================== BASIC EARNINGS PER SHARE N/A $1.08 N/A $2.24 =========================================================================================================== =========================================================================================================== WEIGHTED AVERAGE COMMON AND INCREMENTAL SHARES N/A 86,260 N/A 86,327 =========================================================================================================== DILUTED EARNINGS PER SHARE N/A $1.07 N/A $2.22 =========================================================================================================== DIVIDENDS DECLARED PER SHARE OF COMMON STOCK $0.1625 $0.1625 $0.6500 $0.6125 ===========================================================================================================
5 1ST QUARTER INDIANAPOLIS POWER & LIGHT COMPANY (Unaudited)
- ----------------------------------------------------------------------------------------------- STATEMENTS OF CONSOLIDATED INCOME - ----------------------------------------------------------------------------------------------- 12 MOS ENDED (IN THOUSANDS EXCEPT PER SHARE AMOUNTS) MARCH 31 2001 - ----------------------------------------------------------------------------------------------- UTILITY OPERATING REVENUES: Electric $839,479 Steam 17,019 - ----------------------------------------------------------------------------------------------- Total Operating Revenues 856,498 - ----------------------------------------------------------------------------------------------- UTILITY OPERATING EXPENSES: Operation: Fuel 189,409 Other 212,359 Power purchased 13,279 Purchased steam 3,585 Maintenance 81,753 Voluntary Early Retirement Program Benefit Costs 62,007 Depreciation and amortization 111,061 Taxes other than income taxes 38,405 Income taxes - net 46,267 - ----------------------------------------------------------------------------------------------- Total Operating Expenses 758,125 - ----------------------------------------------------------------------------------------------- UTILITY OPERATING INCOME 98,373 - ----------------------------------------------------------------------------------------------- OTHER INCOME AND (DEDUCTIONS): Allowance for equity funds used during construction 1,502 Other - net (3,824) Gain on sale of thermal assets (21,172) Income taxes - net 9,750 - ----------------------------------------------------------------------------------------------- Total Other Income (Deductions) - Net (13,744) - ----------------------------------------------------------------------------------------------- INCOME BEFORE INTEREST AND OTHER CHARGES 84,629 - ----------------------------------------------------------------------------------------------- INTEREST AND OTHER CHARGES: Interest 41,002 Allowance for borrowed funds used during construction (683) - ----------------------------------------------------------------------------------------------- Total Interest and Other Charges - Net 40,319 - ----------------------------------------------------------------------------------------------- NET INCOME 44,310 - ----------------------------------------------------------------------------------------------- Preferred stock transactions 3,213 - ----------------------------------------------------------------------------------------------- INCOME APPLICABLE TO COMMON STOCK $41,097 ===============================================================================================
6 IPALCO ENTERPRISES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In Thousands) (Unaudited)
MARCH 31 DECEMBER 31 ASSETS 2001 2000 ------ ---- ---- UTILITY PLANT: Utility plant in service $ 2,905,775 $ 2,897,399 Less accumulated depreciation 1,367,514 1,344,403 --------------- ------------------ Utility plant in service - net 1,538,261 1,552,996 Construction work in progress 91,751 84,146 Property held for future use 10,731 10,692 --------------- ------------------ Utility plant - net 1,640,743 1,647,834 --------------- ------------------ OTHER ASSETS: Nonutility property - at cost, less accumulated depreciation 12,254 12,378 Available-for-sale securities 11 17 Other investments 8,240 9,360 --------------- ------------------ Other assets - net 20,505 21,755 --------------- ------------------ CURRENT ASSETS: Cash and cash equivalents 46,207 68,652 Accounts receivable and unbilled revenue (less allowance for doubtful accounts 2001, $2,010 and 2000, $1,794) 47,954 66,565 Fuel - at average cost 21,149 23,648 Materials and supplies - at average cost 48,094 48,791 Prepayments and other current assets 1,954 1,985 --------------- ------------------ Total current assets 165,358 209,641 --------------- ------------------ DEFERRED DEBITS: Regulatory assets 96,995 92,826 Miscellaneous 10,724 11,220 --------------- ------------------ Total deferred debits 107,719 104,046 --------------- ------------------ TOTAL $ 1,934,325 $ 1,983,276 =============== ================== CAPITALIZATION AND LIABILITIES CAPITALIZATION: Common shareholders' equity: Common stock $ 459,786 $ 449,987 Unearned compensation - restricted stock awards (5,741) - Premium on 4% cumulative preferred stock 649 649 Retained earnings 764,227 788,441 Accumulated other comprehensive income (4,656) (1,813) Treasury stock, at cost (500,552) (507,116) --------------- --------------- Total common shareholders' equity 713,713 730,148 Cumulative preferred stock of subsidiary 59,135 59,135 Long-term debt (less current maturities and sinking fund requirements) 621,880 621,863 --------------- --------------- Total capitalization 1,394,728 1,411,146 --------------- --------------- CURRENT LIABILITIES: Current maturities and sinking fund requirements 300 6,450 Accounts payable and accrued expenses 52,406 58,179 Dividends payable 15,516 15,364 Taxes accrued 21,430 49,477 Interest accrued 9,665 13,051 Other current liabilities 16,572 14,444 --------------- --------------- Total current liabilities 115,889 156,965 --------------- --------------- DEFERRED CREDITS AND OTHER LONG-TERM LIABILITIES: Accumulated deferred income taxes - net 284,095 275,171 Unamortized investment tax credit 35,766 36,458 Accrued postretirement benefits 5,323 5,237 Accrued pension benefits 88,657 91,191 Miscellaneous 9,867 7,108 --------------- --------------- Total deferred credits and other long-term liabilities 423,708 415,165 --------------- --------------- COMMITMENTS AND CONTINGENCIES TOTAL $ 1,934,325 $ 1,983,276 =============== ===============
7 INDIANAPOLIS POWER & LIGHT COMPANY BALANCE SHEETS (In Thousands) (Unaudited)
MARCH 31 DECEMBER 31 2001 2000 --------------- --------------- ASSETS UTILITY PLANT: Utility plant in service $ 2,905,775 $ 2,897,399 Less accumulated depreciation 1,367,514 1,344,403 --------------- --------------- Utility plant in service - net 1,538,261 1,552,996 Construction work in progress 91,751 84,146 Property held for future use 10,731 10,692 --------------- --------------- Utility plant - net 1,640,743 1,647,834 --------------- --------------- OTHER PROPERTY - At cost, less accumulated depreciation 5,654 5,719 --------------- --------------- CURRENT ASSETS: Cash and cash equivalents 42,015 13,938 Accounts receivable and unbilled revenue (less allowance for 63,192 112,775 doubtful accounts 2001, $1,952 and 2000, $1,608) Fuel - at average cost 20,751 23,196 Materials and supplies - at average cost 47,732 48,246 Tax refund receivable 40 40 Prepayments and other current assets 1,548 1,807 --------------- --------------- Total current assets 175,278 200,002 --------------- --------------- DEFERRED DEBITS: Regulatory assets 96,995 92,826 Miscellaneous 8,196 8,829 --------------- --------------- Total deferred debits 105,191 101,655 --------------- --------------- TOTAL $ 1,926,866 $ 1,955,210 =============== =============== CAPITALIZATION AND LIABILITIES CAPITALIZATION: Common shareholder's equity: Common stock $ 324,537 $ 324,537 Premium and net gain on preferred stock 2,642 2,642 Retained earnings 380,762 397,032 Accumulated other comprehensive income (3,997) (1,820) --------------- --------------- Total common shareholder's equity 703,944 722,391 Cumulative preferred stock 59,135 59,135 Long-term debt (less current maturities and sinking fund requirements) 621,880 621,863 --------------- --------------- Total capitalization 1,384,959 1,403,389 --------------- --------------- CURRENT LIABILITIES: Current maturities and sinking fund requirements - 6,150 Accounts payable and accrued expenses 49,568 52,456 Dividends payable 15,379 15,240 Taxes accrued 24,607 30,225 Interest accrued 9,608 13,037 Other current liabilities 16,572 14,444 --------------- --------------- Total current liabilities 115,734 131,552 --------------- --------------- DEFERRED CREDITS AND OTHER LONG-TERM LIABILITIES: Accumulated deferred income taxes - net 292,301 284,340 Unamortized investment tax credit 35,766 36,458 Accrued postretirement benefits 5,323 5,237 Accrued pension benefits 88,657 91,191 Miscellaneous 4,126 3,043 --------------- --------------- Total deferred credits and other long-term liabilities 426,173 420,269 --------------- --------------- COMMITMENTS AND CONTINGENCIES TOTAL $ 1,926,866 $ 1,955,210 =============== ===============
8 CILCORP CONSOLIDATED INCOME STATEMENT TWELVE MONTHS ENDED 3/31/2001 Revenue: CILCO Electric $401,510 CILCO Gas 326,459 CILCO Other 52,924 Other Businesses 48,361 ------------------- Total 829,254 ------------------- Operating expenses: Fuel for generation and purchased power 216,261 Gas purchased for resale 272,402 Other operations and maintenance 119,783 Depreciation and amortization 86,879 Taxes, other than income taxes 40,360 ------------------- Total 735,685 ------------------- Fixed charges and other: Interest expense 72,318 Preferred stock dividends of subsidiary 2,677 Allowance for funds used during construction (536) Other 1,248 ------------------- Total 75,707 ------------------- Income from continuing operations before income taxes 17,862 Income taxes 8,961 ------------------- Net income (loss) from continuing operations 8,901 Income (Loss) from operations of discontinued business, net of taxes - Extraordinary item - ------------------- Net income (loss) before minority interest 8,901 Minority Interest - ------------------- Net income (loss) 8,901 Other comprehensive income (699) ------------------- Comprehensive income (loss) $ 8,202 ===================
9 CENTRAL ILLINOIS LIGHT COMPANY CONSOLIDATED STATEMENT OF INCOME
Twelve Months Ended 3/31/2001 Operating Revenues: Electric $ 401,510 Gas 326,459 ------------------- 727,969 ------------------- Operating Expenses: Cost of Fuel 115,571 Cost of Gas 238,654 Purchased Power 54,601 Other Operation & Maintenance Expenses 112,746 Depreciation and Amortization 69,221 Income Taxes 27,952 Other Taxes 40,283 ------------------- Total Operating Expenses 659,028 ------------------- Operating Income 68,941 Other Income and Deductions CILCO Owned Life Insurance (1,248) Other, Net 1,225 ------------------- Total other income and (deductions) (23) ------------------- Income Before Interest Expenses 68,918 Interest Expenses: Interest on Long-Term Debt 17,313 Cost of Borrowed Funds Capitalized (536) Other 6,876 ------------------- Total interest expense 23,653 ------------------- Net (loss) Income Before Preferred Dividends 45,265 ------------------- Preferred Stock Dividends 2,677 ------------------- Net Inc Available for Common Stock $ 42,588 ===================
10 CILCORP INC. AND SUBSIDIARIES Consolidated Balance Sheets (In thousands)
March 31, 2001 ASSETS (Unaudited) Current assets: Cash and temporary cash investments $ 33,473 Receivables, less reserves of $1,432 116,160 Accrued unbilled revenue 32,768 Fuel, at average cost 13,137 Materials and supplies, at average cost 16,247 Gas in underground storage, at average cost 9,894 FAC/PGA underrecoveries 3,209 Prepayments and other 4,771 ---------- Total current assets 229,659 ---------- Investments and other property: Investment in leveraged leases 136,606 Other investments 21,611 ---------- Total investments and other property 158,217 ---------- Property, plant and equipment: Utility plant, at original cost Electric 700,528 Gas 220,279 ---------- 920,807 Less - accumulated provision for depreciation 82,943 ---------- 837,864 Construction work in progress 32,222 Other, net of depreciation 112 ---------- Total property, plant and equipment 870,198 ---------- Other assets: Goodwill, net of accumulated amortization of $22,255 590,711 Other 54,829 ---------- Total other assets 645,540 ---------- Total assets $1,903,614 ==========
11 CILCORP INC. AND SUBSIDIARIES Consolidated Balance Sheets (In thousands)
March 31, 2001 LIABILITIES AND STOCKHOLDER'S EQUITY (Unaudited) Current liabilities: Current portion of long-term debt $ 18,900 Notes payable 108,200 Accounts payable 62,215 Accrued taxes 28,197 Accrued interest 27,023 FAC/PGA overrecoveries 2,504 Other 5,877 ---------- Total current liabilities 252,916 ---------- Long-term debt 719,093 ---------- Deferred credits and other liabilities: Deferred income taxes 194,203 Regulatory liability of regulated subsidiary 42,949 Deferred investment tax credits 15,757 Freeman contract liability 87,049 Other 77,828 ---------- Total deferred credits and other liabilities 417,786 ---------- Preferred stock of subsidiary 41,120 ---------- Stockholder's equity: Common stock, no par value; authorized 10,000 shares - outstanding 1,000 shares -- Additional paid-in capital 468,833 Retained earnings 4,565 Accumulated other comprehensive income (699) ---------- Total stockholder's equity 472,699 ---------- Total liabilities and Stockholder's equity $1,903,614 ==========
12 CENTRAL ILLINOIS LIGHT COMPANY Consolidated Balance Sheets (In thousands)
March 31, 2001 ASSETS (Unaudited) Utility plant, at original cost: Electric $1,310,423 Gas 443,645 ---------- 1,754,068 Less - accumulated provision for depreciation 942,906 ---------- 811,162 Construction work in progress 32,223 ---------- Total utility plant 843,385 ---------- Other property and investments: Cash surrender value of company-owned life insurance (net of related policy loans of $59,292) 4,372 Other 1,162 ---------- Total other property and investments 5,534 ---------- Current assets: Cash and temporary cash investments 29,819 Receivables, less reserves of $1,432 101,416 Accrued unbilled revenue 29,037 Fuel, at average cost 13,137 Materials and supplies, at average cost 15,212 Gas in underground storage, at average cost 9,894 Prepaid taxes 5,393 FAC/PGA underrecoveries 3,209 Other 4,709 ---------- Total current assets 211,826 ---------- Deferred debits: Unamortized loss on reacquired debt 2,631 Unamortized debt expense 1,396 Prepaid pension cost 229 Other 24,734 ---------- Total deferred debits 28,990 ---------- Total assets $1,089,735 ==========
13 CENTRAL ILLINOIS LIGHT COMPANY Consolidated Balance Sheets (In thousands)
March 31, CAPITALIZATION AND LIABILITIES 2001 (Unaudited) Capitalization: Common stockholder's equity: Common stock, no par value; authorized 20,000,000 shares; outstanding 13,563,871 shares $ 185,661 Additional paid-in capital 27,000 Retained earnings 152,155 Accumulated other comprehensive income (1,224) ---------- Total common stockholder's equity 363,592 Preferred stock without mandatory redemption 19,120 Preferred stock with mandatory redemption 22,000 Long-term debt 244,095 ---------- Total capitalization 648,807 ---------- Current liabilities: Current maturities of long-term debt 1,400 Notes payable 75,700 Accounts payable 49,804 Accrued taxes 36,166 Accrued interest 7,144 FAC/PGA overrecoveries 2,504 Other 5,805 ---------- Total current liabilities 178,523 ---------- Deferred credits and other liabilities: Accumulated deferred income taxes 120,902 Regulatory liability 42,949 Deferred investment tax credit 15,757 Capital lease obligation 467 Other 82,330 ---------- Total deferred credits and other liabilities 262,405 ---------- Total capitalization and liabilities $1,089,735 ==========
14 ITEM (2) PER EXEMPTION ORDER (INCOME STATEMENT AMOUNTS ARE 12 MONTHS ENDED): CILCO AND IPL CONTRIBUTIONS TO AES/CILCORP/IPALCO(1) CONSOLIDATED HOLDING COMPANY (PRO RATA CONSOLIDATION BASIS) ($MM)
----------------------------------------------------------------------------------------------------------- 12 MOS. ENDED 12/31/00 12 MOS. ENDED 3/31/01 ----------------------------------------------------------------------------------------------------------- GROSS REVENUES(2) 16.94% 17.88% CILCO 636 781 CILCORP (excluding CILCO) 87 48 IPL 831 840 IPALCO (excluding IPL) 28 17 AES (excluding CILCORP and IPALCO) 7,079 7,382 AES/CILCORP/IPALCO 8,661 9,068 ----------------------------------------------------------------------------------------------------------- OPERATING INCOME 14.20% 11.90% CILCO 97 97 CILCORP (excluding CILCO) 12 3 IPL 205 129 IPALCO (excluding IPL) (36) 1 AES (excluding CILCORP and IPALCO) 1,849 1,669 AES/CILCORP/IPALCO 2,127 1,900 ----------------------------------------------------------------------------------------------------------- NET INCOME 15.99% 14.82% CILCO 45 43 CILCORP (excluding CILCO) (33) (34) IPL 82 29 IPALCO (excluding IPL) 73 14 AES (excluding CILCORP and IPALCO) 629 431 AES/CILCORP/IPALCO 797 483 ----------------------------------------------------------------------------------------------------------- NET ASSETS 8.49% 5.91% CILCO 1,107 311 CILCORP (excluding CILCO) 841 1,124 IPL 1,905 1,909 IPALCO (excluding IPL) - (5) AES (excluding CILCORP and IPALCO) 31,326 34,229 AES/CILCORP/IPALCO 35,479 37,568 -----------------------------------------------------------------------------------------------------------
- -------------------- (1) As a result of AES' acquisition of IPALCO, the results of AES/CILCORP/IPALCO for the twelve-month periods have been restated to include IPALCO. (2) Gross business revenues (utility and non-utility) of IPALCO and CILCO combined as a percentage of total gross business revenues (including IPALCO/IPL and CILCOPRP/CILCO, utility and non-utility) of AES. 15 IPL CONTRIBUTIONS TO AES/IPALCO(1) CONSOLIDATED HOLDING COMPANY (PRO RATA CONSOLIDATION BASIS) ($MM)
----------------------------------------------------------------------------------------------------------- 12 MOS. ENDED 12/31/00 12 MOS. ENDED 3/31/01 ----------------------------------------------------------------------------------------------------------- GROSS REVENUES(2) 10.06% 9.64% IPL 831 840 IPALCO (excluding IPL) 28 17 AES (excluding CILCO jurisdictional activities) 7,404 7,854 AES/IPALCO 8,263 8,711 ----------------------------------------------------------------------------------------------------------- OPERATING INCOME 10.73% 6.00% IPL 205 129 IPALCO (excluding IPL) (36) 1 AES (excluding CILCO jurisdictional activities) 1,741 2,018 AES/IPALCO 1,910 2,149 ----------------------------------------------------------------------------------------------------------- NET INCOME 10.91% 6.58% IPL 82 29 IPALCO (excluding IPL) 73 14 AES (excluding CILCO jurisdictional activities) 600 391 AES/IPALCO 755 433 ----------------------------------------------------------------------------------------------------------- NET ASSETS 5.49% 5.19% IPL 1,905 1,909 IPALCO (excluding IPL) - (5) AES (excluding CILCO jurisdictional activities) 32,781 34,902 AES/IPALCO 34,686 36,806 -----------------------------------------------------------------------------------------------------------
- -------------------- (1) As a result of AES' acquisition of IPALCO, the results of AES/CILCORP/IPALCO for the twelve-month periods have been restated to include IPALCO. (2) Gross business revenues (utility and non-utility) of IPL as a percentage of total gross business revenues (including IPALCO/IPL utility and non-utility) of AES. 16 ITEM (3) PER EXEMPTION ORDER - GENERATION INFORMATION: AES Generating Plants in Operation at March 31, 2001 (excluding CILCORP and IPALCO):
AES AES CAPACITY INTEREST EQUITY REGULATORY UNIT COUNTRY (MW) (%) (MW) STATUS ---- ------- ---- --- ---- ------ AES Deepwater USA 143 100% 143 QF AES Beaver Valley USA 125 100% 125 QF AES Placerita USA 120 100% 120 QF AES Thames USA 181 100% 181 QF AES Shady Point USA 320 100% 320 QF AES Hawaii USA 180 100% 180 QF AES Warrior Run USA 180 100% 180 QF AES Somerset USA 675 100% 675 EWG AES Cayuga USA 306 100% 306 EWG AES Greenidge USA 161 100% 161 EWG AES Westover USA 126 100% 126 EWG AES Alamitos USA 2,083 100% 2,083 EWG AES Redondo Beach USA 1,310 100% 1,310 EWG AES Huntington Beach USA 563 100% 563 EWG DOMESTIC SUBTOTAL: 6,473 6,473
AES AES CAPACITY INTEREST EQUITY REGULATORY UNIT COUNTRY (MW) (%) (MW) STATUS ---- ------- ---- --- ---- ------ AES Kingston Canada 110 50% 55 EWG AES San Nicholas Argentina 650 69% 449 EWG AES Cabra Corral Argentina 102 98% 100 FUCO AES El Tunal Argentina 10 98% 10 FUCO AES Sarmiento Argentina 33 98% 32 FUCO AES Ullum Argentina 45 98% 44 FUCO AES Quebrada de Ullum Argentina 45 100% 45 FUCO AES Alicura Argentina 1,000 98% 980 FUCO Fontes Nova - Light Brazil 144 21% 30 FUCO Ilha dos Pombos - Light Brazil 164 21% 34 FUCO Nilo Pecanha - Light Brazil 380 21% 80 FUCO Pereira Passos - Light Brazil 100 21% 21 FUCO CEMIG - Miranda Brazil 390 9% 35 FUCO CEMIG - Igarapava Brazil 210 1% 2 FUCO CEMIG (35 plants) Brazil 5,068 9% 441 FUCO AES Bayano Panama 150 49% 74 FUCO AES Panama Panama 42 49% 21 FUCO AES Chiriqui - La Estrella Panama 42 49% 21 FUCO AES Chiriqui - Los Valles Panama 48 49% 24 FUCO AES Los Mina Dom. Rep. 210 100% 210 EWG AES Yarra Australia 510 100% 510 FUCO AES Jeeralang Australia 449 100% 449 FUCO AES Mt. Stuart Australia 288 100% 288 FUCO 17 AES Xiangci - Cili China 26 51% 13 FUCO Wuhu Grassy Lake China 250 25% 63 FUCO Yangchun China 15 25% 4 FUCO Chengdu Lotus City China 48 35% 17 FUCO AES Jiaozuo China 250 70% 175 FUCO AES Hefei China 76 70% 53 FUCO AES Hefei II China 39 70% 27 FUCO AES Chongqing Nanchuan China 50 70% 35 FUCO Yangcheng (1st Unit) China 350 25% 88 FUCO AES Ekibastuz Kazakhstan 4,000 100% 4,000 FUCO AES Ust-Kamenogorsk GES Kazakhstan 331 100% 331 FUCO AES Shulbinsk GES Kazakhstan 702 100% 702 FUCO AES Ust-Kamenogorsk TETS Kazakhstan 1,464 100% 1,464 FUCO AES Leninogorsk TETS Kazakhstan 418 100% 418 FUCO AES Sogrinsk TETS Kazakhstan 349 100% 349 FUCO AES Semipalatinsk TETS Kazakhstan 840 100% 840 FUCO AES Ust-Kamenogorsk Heat Nets Kazakhstan 310 Mgmt. 0 FUCO OPGC India 420 49% 206 FUCO AES Lal Pir Pakistan 351 90% 316 FUCO AES PakGen Pakistan 344 90% 310 FUCO AES Borsod Hungary 171 100% 171 FUCO AES Tisza II Hungary 860 100% 860 FUCO AES Tiszapalkonya Hungary 250 100% 250 FUCO AES Elsta Netherlands 405 50% 203 FUCO Medway U.K. 688 25% 172 FUCO AES Indian Queens U.K. 140 100% 140 EWG AES Kilroot U.K. 520 97% 504 FUCO AES Belfast West U.K. 120 97% 116 FUCO AES Barry U.K. 230 100% 230 FUCO AES Drax Power Ltd. U.K. 4,065 100% 4,065 FUCO AES Fifoots Point U.K. 360 100% 360 FUCO AES Uruguaiana Brazil 600 100% 600 FUCO AES Tiete (10 plants) Brazil 2,650 44% 1,166 FUCO EDC (4 plants) Venezuela 2,265 87% 1,971 FUCO AES Merida III Mexico 484 55% 266 FUCO AES Mtkvari Georgia 600 100% 600 FUCO AES Khrami I Georgia 113 100% 113 FUCO AES Khrami II Georgia 110 100% 110 FUCO AES Ottana Italy 140 100% 140 FUCO AES Mamonal (KMR) Columbia 90 62% 56 FUCO AES Termo Candelaria (KMR) Columbia 314 100% 314 FUCO AES Centrogener (Gener - 8 Chile 756 96% 726 FUCO plants) AES Chivor (Gener) Columbia 1,000 96% 960 FUCO AES Electrica de Santiago (Gener) Chile 379 72% 273 FUCO AES Energia Verde (Gener - 2 Chile 17 96% 16 FUCO plants) AES Guacolda (Gener) Chile 304 48% 146 FUCO AES Norgener (Gener - 2 plants) Chile 276 96% 265 FUCO Itabo (Gener - 7 plants) Dom. Rep. 587 24% 141 FUCO 18 FOREIGN SUBTOTAL: 39,317 28,297 TOTAL - March 31, 2001 45,790 34,770 Foreign Generation as a 86% 81% Percentage of Total:
CILCORP Generating Plants at March 31, 2001:
AES AES CAPACITY INTEREST EQUITY REGULATORY UNIT COUNTRY (MW) (%) (MW) STATUS ---- ------- ---- --- ---- ------ Edwards (3 units) USA 740 100 740 IL PUC Duck Creek USA 366 100 366 IL PUC Indian Trails USA 10 100 10 IL PUC Sterling Avenue USA 30 100 30 IL PUC Hallock Power Modules USA 13 100 13 IL PUC Kickapoo Power Modules USA 13 100 13 IL PUC TOTAL - March 31, 2001 1,172 1,172
IPALCO Generating Plants at March 31, 2001:
AES AES CAPACITY INTEREST EQUITY REGULATORY UNIT COUNTRY (MW) (%) (MW) STATUS ---- ------- ---- --- ---- ------ Petersburg USA 1,873 100 1,873 IN PUC H.T. Pritchard USA 393 100 393 IN PUC E.W. Stout USA 1,017 100 1,017 IN PUC Georgetown USA 80 100 80 IN PUC TOTAL - March 31, 2001 3,363 3,363
Revenues from electric generation capacity - 12 months ended March 31, 2001 (millions of dollars): IPALCO 184 5% CILCORP 161 4% AES (excluding CILCORP and IPALCO) 3,362 91% ----- --- Total 3,707 100%
IPALCO's electric revenues are allocated between electric generation and electric transmission and distribution activities according to utility rate base. CILCORP's electric revenues are allocated between electric generation and electric transmission and distribution activities according to utility rate base. AES generation revenues are derived from the total generation revenues earned by AES subsidiaries times the percentage ownership interest of AES in those subsidiaries. 19 There has been no change in the amount of generation capacity owned by CILCORP or IPALCO and a 544 MW increase in the amount of generation capacity owned by AES (excluding CILCORP and IPALCO) from 34,226 to 34,770 MW since December 31, 2000. There has been a 23% decrease in the total revenues earned from the capacity owned by AES, IPALCO and CILCORP in the twelve-month period ended March 31, 2001 compared with the twelve-month period ended December 31, 2000. The percentage of total revenues derived from the generation capacity owned by CILCORP has increased from 3% to 4%. IPALCO's total generation capacity for the twelve months ended March 31, 2001 was 3,363 MW, which comprises 9% of total AES generation capacity. The revenues generated from IPALCO's generation capacity for the twelve months ended March 31, 2001 were $184 million, which comprises 5% of total AES generation revenues. The physical location of the MW capacity added by AES since December 31, 2000 is in Kazakhstan, Panama, China, and Italy. ITEM (4) PER EXEMPTION ORDER - ELECTRIC TRANSMISSION AND DISTRIBUTION AND GAS DISTRIBUTION: Electric transmission and distribution and gas distribution assets owned as of March 31, 2001 (millions of dollars): IPALCO 1,011 CILCORP 780 Total AES (excluding CILCORP and IPALCO) 4,943 ----- Total 6,734
Electric transmission and distribution and gas distribution revenues for 12 months ending March 31, 2001 (millions of dollars): IPALCO 654 CILCORP 567 AES (excluding CILCORP and IPALCO) 3,493 ----- Total 4,714
IPALCO's electric revenues are allocated between electric generation and electric transmission and distribution activities according to utility rate base. CILCORP's electric revenues are allocated between electric generation and electric transmission and distribution activities according to utility rate base. AES transmission and distribution revenues are derived from the total revenues earned by AES transmission and distribution subsidiaries by multiplying these revenues by the percentage ownership interest of AES in those subsidiaries. 20 The total transmission and distribution assets owned by AES and CILCORP has not changed significantly since December 31, 2000; however, the calculation of total transmission and distribution assets owned by AES has decreased due to an improvement in the method for calculating these revenues (namely, subtracting the generation-related assets owned by such transmission and distribution companies). CILCORP's transmission and distribution assets have decreased slightly while the revenues derived from such assets have increased significantly since December 31, 2000. AES' transmission and distribution assets have been restated to be lower due to the recalculation to subtract generation-related assets owned by such transmission and distribution companies, and the revenues derived from such assets have increased significantly since December 31, 2000. CILCORP's percentage of the total transmission and distribution assets is now estimated at 12% based on the improved calculation method, and CILCORP's percentage of the total revenues from such assets has decreased slightly from 13% to 12% for the twelve-month period ending March 31, 2001 compared to the twelve-month period ending December 31, 2000. IPALCO's total transmission and distribution assets for the twelve months ended March 31, 2001 are $1,011 million, which comprises 15% of total AES transmission and distribution assets. The revenues generated from IPALCO's transmission and distribution assets for the twelve months ended March 31, 2001 were $654 million which comprises 14% of total AES transmission and generation revenues for that period. ITEM (5) PER EXEMPTION ORDER: Neither CILCO nor IPL has sold or transferred any electric and/or gas utility assets to any affiliate company of the AES consolidated holding company system during the first quarter of 2001. ITEM (6) PER EXEMPTION ORDER: During the first quarter of 2001, no application has been made to nor has any order been received from the Illinois Commerce Commission that involves AES' ownership position or AES' oversight over the operations of CILCO or CILCORP. During the first quarter of 2001, no application has been made to nor has any order been received from the Indiana Utility Regulatory Commission that involves AES' ownership position or AES' oversight over the operations of IPL or IPALCO. ITEM (7) PER EXEMPTION ORDER: During the first quarter of 2001, AES has taken no action regarding the divestiture of the jurisdictional business of CILCO. 21 SIGNATURE Pursuant to the requirements of the Public Utility Holding Company Act of 1935, as amended, AES has duly caused this certificate to be signed on its behalf on this 30th day of May, 2001 by the undersigned thereunto duly authorized. The AES Corporation By: /s/ WILLIAM R. LURASCHI ------------------------------ William R. Luraschi General Counsel and Secretary -----END PRIVACY-ENHANCED MESSAGE-----