-----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, JvmuT5tNG6yaLm8htcU4MuSnXcPQBt+BZYBVFTC72iaI2iRfHM+6SE5RTk0qXvkx JcP/uM4bta2HnB0MZsVhUQ== 0001047469-02-005056.txt : 20021127 0001047469-02-005056.hdr.sgml : 20021127 20021127135453 ACCESSION NUMBER: 0001047469-02-005056 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20021127 EFFECTIVENESS DATE: 20021127 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: 1935 Act SEC FILE NUMBER: 070-09465 FILM NUMBER: 02843108 BUSINESS ADDRESS: STREET 1: 1001 N 19TH ST STREET 2: STE 2000 CITY: ARLINGTON STATE: VA ZIP: 22209 BUSINESS PHONE: 7035221315 35-CERT 1 a2094913z35-cert.txt 35-CERT UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ) The AES Corporation ) File No. 70-9465 ) Certificate Pursuant to Rule 24 and Release No. 35-27063 Under the Public Utility Holding Company Act of 1935 On August 20, 1999, the Securities and Exchange Commission ("SEC") issued an order, Release No. 35-27063, in File No. 70-9465 ("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 CILCORP Inc. ("CILCORP"), which has a public-utility subsidiary company, Central Illinois Light Company ("CILCO"). 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 three years beginning September 30, 1999 and every six months thereafter. A certificate complying with the Exemption Order is set forth below (as an attachment) for the period ending September 30, 2002. AES is separately filing a certificate in File No. 70-9779 as required by the Commission's order in Release No. 35-27363 in connection with the AES acquisition of IPALCO Enterprises, Inc. ("IPALCO"), which has a public-utility subsidiary company, Indianapolis Power & Light Company ("IPL"). 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: November 27, 2002 THE AES CORPORATION SEC FILING PURSUANT TO SECTION 3(a)(5) EXEMPTION ORDER QUARTER ENDED SEPTEMBER 30, 2002 ITEM (1) PER EXEMPTION ORDER (STATEMENTS ATTACHED): 1) Statement of Income of The AES Corporation for the 12 months ended September 30, 2002 a) 12 months ended September 30, 2002 GAAP consolidated income statement b) 12 months ended September 30, 2002 pro rata consolidated income statement 2) Balance Sheet of The AES Corporation at September 30, 2002 a) GAAP Basis Consolidated Balance Sheet b) Pro Rata Consolidated Balance Sheet 3) Statement of Income of CILCORP for the 12 months ended September 30, 2002 4) Statement of Income of CILCO for the 12 months ended September 30, 2002 5) Consolidated Balance Sheet of CILCORP at September 30, 2002 6) Consolidated Balance Sheet of CILCO at September 30, 2002 2 THE AES CORPORATION CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO) FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 2002 GAAP BASIS (UNAUDITED)
- ------------------------------------------------------------------------------------------------- TWELVE MONTHS ENDED ($ in millions) 9/30/2002 - ------------------------------------------------------------------------------------------------- REVENUES: Sales and services $ 8,453 OPERATING COSTS AND EXPENSES: Cost of sales and services 6,099 Selling, general and administrative expenses 115 ------- TOTAL OPERATING COSTS AND EXPENSES 6,214 ------- OPERATING INCOME 2,239 OTHER INCOME AND (EXPENSE): Interest expense, net (1,656) Other expense (257) Equity in earnings of affiliates (before income tax) 85 Loss on sale or write-down of investments (116) ------- INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 295 Income tax provision 108 Minority interest 27 ------- INCOME FROM CONTINUING OPERATIONS 160 Loss from operations of discontinued components (net of income taxes) (513) ------- INCOME(LOSS) BEFORE CUMULATIVE EFFECT OF ACCOUNTING CHANGE (353) Cumulative effect of accounting change (net of income taxes) (346) ------- NET INCOME (LOSS) $ (699) =======
3 THE AES CORPORATION CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO) FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 2002 PRO RATA BASIS (UNAUDITED)
- -------------------------------------------------------------------------------------------------- TWELVE MONTHS ENDED ($ in millions) 9/30/2002 - -------------------------------------------------------------------------------------------------- REVENUES: Sales and services $ 8,640 OPERATING COSTS AND EXPENSES: Cost of sales and services 6,288 Selling, general and administrative expenses 115 --------- TOTAL OPERATING COSTS AND EXPENSES 6,403 --------- OPERATING INCOME 2,237 OTHER INCOME AND (EXPENSE): Interest expense, net (1,678) Other expense (175) Loss on sale or write-down of investments (116) --------- INCOME BEFORE INCOME TAXES 268 Income tax provision 108 --------- INCOME FROM CONTINUING OPERATIONS 160 Loss from operations of discontinued components (net of income taxes) (513) --------- INCOME (LOSS) BEFORE CUMULATIVE EFFECT OF ACCOUNTING CHANGE (353) Cumulative effect of accounting change (net of income taxes) (346) --------- NET INCOME (LOSS) $ (699) =========
4 THE AES CORPORATION GAAP BASIS CONSOLIDATED BALANCE SHEET (INCLUDES CILCORP AND IPALCO) SEPTEMBER 30, 2002 ($ in millions, unaudited) ASSETS Current Assets Cash and cash equivalents $ 975 Restricted cash 371 Short-term investments 305 Accounts receivable, net 1,292 Inventory 503 Receivable from affiliates 10 Deferred income taxes 338 Prepaid expenses and other current assets 948 Current assets of discontinued operations 300 ------- Total Current Assets 5,042 Property, Plant and Equipment Land 697 Electric generation and distribution assets 21,624 Accumulated depreciation and amortization (4,102) Construction in progress 4,747 ------- Property, Plant and Equipment, net 22,966 Other Assets Deferred financing costs,net 416 Project development costs 68 Investments in and advances to affiliates 1,028 Debt service reserves and other deposits 378 Goodwill 2,040 Long-term assets of discontinued operations 2,080 Other assets 2,548 ------- Total Other Assets 8,558 ------- Total $36,566 =======
5 LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 1,085 Accrued interest 443 Accrued and other liabilities 1,159 Current liabilities of discontinued operations 553 Recourse debt--current portion 1,544 Non-recourse debt--current portion 3,475 ---------- Total Current Liabilities 8,259 LONG-TERM LIABILITIES Non-recourse debt 13,952 Recourse debt 4,180 Deferred income taxes 1,650 Long-term liabilities of discontinued operations 1,252 Other long-term liabilities 2,978 ---------- Total Long-Term Liabilities 24,012 Minority interest 904 Company-obligated convertible mandatorily redeemable preferred securities of subsidiary trusts holding solely junior subordinated debentures of AES 978 Stockholders' Equity Common stock 5 Additional paid-in capital 5,268 Retained earnings 2,067 Accumulated other comprehensive loss (4,927) ---------- Total Stockholders' Equity 2,413 ---------- Total $ 36,566 ==========
6 THE AES CORPORATION PRO RATA BASIS CONSOLIDATED BALANCE SHEET (INCLUDES CILCORP AND IPALCO) SEPTEMBER 30, 2002 ($ in millions, unaudited) ASSETS Current Assets Cash and cash equivalents $ 933 Restricted cash 371 Short-term investments 234 Accounts receivable, net 1,146 Inventory 484 Deferred income taxes 22 Prepaid expenses and other current assets 1,112 Current assets of discontinued operations 296 -------- Total Current Assets 4,598 Property, Plant and Equipment Land 589 Electric generation and distribution assets 21,089 Accumulated depreciation and amortization (3,917) Construction in progress 4,557 -------- Property, Plant and Equipment, net 22,318 Other Assets Deferred financing costs,net 393 Project development costs 68 Investments in and advances to affiliates 1,009 Debt service reserves and other deposits 366 Goodwill 1,806 Long-term assets of discontinued operations 2,066 Other assets 3,942 -------- Total Other Assets 9,650 -------- Total $ 36,566 ========
7 LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 952 Accrued interest 405 Accrued and other liabilities 1,076 Current liabilities of discontinued operations 551 Recourse debt--current portion 1,544 Non-recourse debt--current portion 2,876 -------- Total Current Liabilities 7,404 Long-Term Liabilities Non-recourse debt 11,928 Recourse debt 4,180 Deferred income taxes 1,613 Long-term liabilities of discontinued operations 1,250 Other long-term liabilities 5,760 -------- Total Long-Term Liabilities 24,731 Minority interest 101 Company-obligated convertible mandatorily redeemable preferred securities of subsidiary trusts holding solely junior subordinated debentures of AES 978 Stockholders' Equity Common stock 5 Additional paid-in capital 5,174 Retained earnings 2,582 Accumulated other comprehensive loss (4,409) -------- Total Stockholders' Equity 3,352 -------- Total $ 36,566 ========
8 CILCORP CONSOLIDATED INCOME STATEMENT TWELVE MONTHS ENDED 9/30/2002 (UNAUDITED)
(In Thousands) Revenue: CILCO Electric $ 391,668 CILCO Gas 191,899 CILCO Other 111,940 Other Businesses 54,959 ------------ Total 750,466 ------------ Operating expenses: Cost of fuel and purchased power 210,580 Gas purchased for resale 159,120 Other operations and maintenance 126,974 Depreciation and amortization 75,962 Taxes, other than income taxes 39,390 ------------ Total 612,026 ------------ Fixed charges and other: Interest expense 66,359 Preferred stock dividends of subsidiary 2,159 Allowance for funds used during construction (991) Other 1,018 ------------ Total 68,545 ------------ Income from continuing operations before income taxes 69,895 Income taxes 25,265 ------------ Income from continuing operations 44,630 Loss from operations of discontinued business, net of taxes (118) ------------ Net income $ 44,512 ============
9 CENTRAL ILLINOIS LIGHT COMPANY CONSOLIDATED STATEMENT OF INCOME TWELVE MONTHS ENDED SEPTEMBER 30, 2002 (UNAUDITED)
(In Thousands) Operating Revenues: Electric $ 391,668 Gas 191,899 ----------- Total Operating Revenues 583,567 ----------- Operating Expenses: Cost of Fuel 131,233 Cost of Gas 112,071 Purchased Power 49,817 Other Operation & Maintenance Expenses 120,319 Depreciation and Amortization 70,685 Income Taxes 14,797 Other Taxes 39,124 ----------- Total Operating Expenses 538,046 ----------- Operating Income 45,521 Other Income and Deductions Cost of Equity Funds Capitalized 14 CILCO Owned Life Insurance (1,018) Other, Net 13,475 ----------- Total other income and (deductions) 12,471 ----------- Interest Expenses: Interest on Long-Term Debt 18,268 Cost of Borrowed Funds Capitalized (977) Other 3,930 ----------- Total interest expense 21,221 ----------- Net (loss) Income Before Preferred Dividends 36,771 ----------- Preferred Stock Dividends 2,159 ----------- Net Income Available for Common Stock $ 34,612 ===========
10 CILCORP INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2002 (UNAUDITED)
(In Thousands) ASSETS Current Assets: Cash and Temporary Cash Investments $ 56,760 Receivables, Less Allowance for Uncollectible Accounts of $2,067 and $1,800 58,591 Accrued Unbilled Revenue 24,587 Fuel, at Average Cost 13,896 Materials and Supplies, at Average Cost 18,130 Gas in Underground Storage, at Average Cost 27,128 FAC Underrecoveries 1,255 PGA Underrecoveries 2,379 Prepayments and Other 15,646 -------- Total Current Assets 218,372 -------- Investments and Other Property: Investment in Leveraged Leases 134,257 Other Investments 17,424 -------- Total Investments and Other Property 151,681 -------- Property, Plant and Equipment: Utility Plant, at Original Cost Electric 728,738 Gas 240,250 -------- 968,988 Less-Accumulated Provision for Depreciation 170,534 -------- 798,454 Construction Work in Progress 102,288 Other, Net of Depreciation 22 -------- Total Property, Plant and Equipment 900,764 -------- Other Assets: Goodwill, Net of Accumulated Amortization of $33,753 579,211 Other 27,578 ----------- Total Other Assets 606,789 ----------- Total Assets $1,877,606 ===========
11 CILCORP INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2002 (UNAUDITED)
(In Thousands) LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Current Portion of Long-Term Debt $ 26,750 Notes Payable -- Accounts Payable 60,697 Accrued Taxes 23,022 Accrued Interest 25,206 Other 5,191 ----------- Total Current Liabilities 140,866 ----------- Long-Term Debt 791,016 ----------- Deferred Credits and Other Liabilities: Deferred Income Taxes 213,660 Regulatory Liability of Regulated Subsidiary 34,418 Deferred Investment Tax Credit 13,357 Other 93,632 ----------- Total Deferred Credits and Other Liabilities 355,067 ----------- Preferred Stock of Subsidiary Without Mandatory Redemption 19,120 Preferred Stock of Subsidiary With Mandatory Redemption 22,000 ----------- Total Preferred Stock of Subsidiary 41,120 ----------- Stockholders' Equity: Common Stock, No Par Value; Authorized 10,000 Outstanding 1,000 -- Additional Paid-in Capital 518,833 Retained Earnings 39,100 Accumulated Other Comprehensive Loss (8,396) ----------- Total Stockholders' Equity 549,537 ----------- Total Liabilities and Stockholders' Equity $ 1,877,606 ===========
12 CENTRAL ILLINOIS LIGHT COMPANY CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2002 (UNAUDITED)
(In Thousands) ASSETS Utility Plant, At Original Cost: Electric $1,338,112 Gas 464,137 --------- 1,802,249 Less-Accumulated Provision for Depreciation 1,028,012 --------- 774,237 Construction Work in Progress 102,288 ---------- Total Utility Plant 876,525 ---------- Other Property and Investments: Cash Surrender Value of Company-owned Life Insurance (Net of Related Policy Loans of $69,523 and $65,314) 3,442 Other 1,050 ---------- Total Other Property and Investments 4,492 ---------- Current Assets: Cash and Temporary Cash Investments 40,348 Receivables, Less Allowance for Uncollectible Accounts of $2,067 and $1,800 57,477 Accrued Unbilled Revenue 22,291 Fuel, at Average Cost 13,896 Materials and Supplies, at Average Cost 16,752 Gas in Underground Storage, at Average Cost 27,128 Prepaid Taxes 9,583 FAC Underrecoveries 1,255 PGA Underrecoveries 2,379 Other 15,605 ---------- Total Current Assets 206,714 ---------- Deferred Debits: Unamortized Loss on Reacquired Debt 2,266 Unamortized Debt Expense 1,668 Intangible Pension Asset 168 Other 10,934 ---------- Total Deferred Debits 15,036 ---------- Total Assets $1,102,767 ==========
13 CENTRAL ILLINOIS LIGHT COMPANY CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2002 (UNAUDITED)
(In Thousands) CAPITALIZATION AND LIABILITIES Capitalization: Common Stockholders' Equity: Common Stock, No Par Value; Authorized 20,000,000 Shares; Outstanding 13,563,871 Shares $ 185,661 Additional Paid-in Capital 52,000 Retained Earnings 125,400 Accumulated Other Comprehensive Loss (175) ----------- Total Common Stockholders' Equity 362,886 Preferred Stock Without Mandatory Redemption 19,120 Preferred Stock With Mandatory Redemption 22,000 Long-term Debt 316,017 ----------- Total Capitalization 720,023 ----------- Current Liabilities: Current Maturities of Long-Term Debt 26,750 Notes Payable -- Accounts Payable 55,828 Accrued Taxes 42,805 Accrued Interest 5,177 Other 5,191 ----------- Total Current Liabilities 135,751 ----------- Deferred Liabilities and Credits: Accumulated Deferred Income Taxes 103,396 Regulatory Liability 34,418 Investment Tax Credits 13,357 Other 95,822 ----------- Total Deferred Liabilities and Credits 246,993 ----------- Total Capitalization and Liabilities $ 1,102,767 ===========
14 ITEM (2) PER EXEMPTION ORDER (INCOME STATEMENT AMOUNTS ARE 12 MONTHS ENDED): CILCO/CILCORP CONTRIBUTIONS TO AES/CILCORP CONSOLIDATED HOLDING COMPANY (GAAP BASIS) ($MM)
---------------------------------------------------------------------------------------------------------- 12 MOS. ENDED 9/30/01 12 MOS. ENDED 9/30/02(1) ---------------------------------------------------------------------------------------------------------- GROSS REVENUES %-CILCO 8.87% 7.56% CILCO 813 696 AES 8,296 8,453 AES/CILCORP 9,168 9,203 ---------------------------------------------------------------------------------------------------------- GROSS REVENUES %-CILCORP 9.51% 8.15% CILCORP (Including CILCO) 872 750 AES 8,296 8,453 AES/CILCORP 9,168 9,203 ---------------------------------------------------------------------------------------------------------- NET OPERATING REVENUES %-CILCO 6.06% 5.89% CILCO 428 450 AES 6,591 7,119 AES/CILCORP 7,064 7,635 ---------------------------------------------------------------------------------------------------------- NET OPERATING REVENUES %-CILCORP 6.70% 6.76% CILCORP (Including CILCO) 473 516 AES 6,591 7,119 AES/CILCORP 7,064 7,635 ---------------------------------------------------------------------------------------------------------- OPERATING INCOME %-CILCO 4.02% 3.37% CILCO 83 80 AES 1,983 2,239 AES/CILCORP 2,066 2,377 ---------------------------------------------------------------------------------------------------------- OPERATING INCOME %-CILCORP 5.18% 5.81% CILCORP (Including CILCO) 107 138 AES 1,983 2,239 AES/CILCORP 2,066 2,377 ---------------------------------------------------------------------------------------------------------- NET INCOME %-CILCO 7.62% (5.01%) CILCO 34 35 AES 434 (744) AES/CILCORP 446 (699) ---------------------------------------------------------------------------------------------------------- NET INCOME %-CILCORP 2.69% (6.44%) CILCORP (Including CILCO) 12 45 AES 434 (744) AES/CILCORP 446 (699) ---------------------------------------------------------------------------------------------------------- NET ASSETS %-CILCO 2.94% 3.02% CILCO 1,070 1,103 AES 34,523 34,688 AES/CILCORP 36,381 36,566 ---------------------------------------------------------------------------------------------------------- NET ASSETS %-CILCORP 5.11% 5.14% CILCORP (Including CILCO) 1,858 1,878 AES 34,523 34,688 AES/CILCORP 36,381 36,566 ----------------------------------------------------------------------------------------------------------
- ------------------ (1) For purposes of comparison with the prior period, the CILCORP and CILCO data for gross revenues, net operating revenues and operating income were added to AES consolidated data to arrive at AES/CILCORP amounts. 15 CILCO/CILCORP CONTRIBUTIONS TO AES/CILCORP CONSOLIDATED HOLDING COMPANY (PRO RATA CONSOLIDATION BASIS)(1) ($MM)
--------------------------------------------------------------------------------------------------------- 12 MOS. ENDED 9/30/01 12 MOS. ENDED 09/30/02(2) --------------------------------------------------------------------------------------------------------- GROSS REVENUES %-CILCO 7.92% 7.41% CILCO 813 696 AES 9,389 8,640 AES/CILCORP 10,261 9,390 --------------------------------------------------------------------------------------------------------- GROSS REVENUES %-CILCORP 8.50% 7.99% CILCORP (Including CILCO) 872 750 AES 9,389 8,640 AES/CILCORP 10,261 9,390 --------------------------------------------------------------------------------------------------------- NET OPERATING REVENUES %-CILCO 5.16% 5.80% CILCO 428 450 AES 7,819 7,241 AES/CILCORP 8,292 7,757 --------------------------------------------------------------------------------------------------------- NET OPERATING REVENUES %-CILCORP 5.70% 6.65% CILCORP (Including CILCO) 473 516 AES 7,819 7,241 AES/CILCORP 8,292 7,757 --------------------------------------------------------------------------------------------------------- OPERATING INCOME %-CILCO 3.42% 3.36% CILCO 83 80 AES 2,322 2,237 AES/CILCORP 2,429 2,375 --------------------------------------------------------------------------------------------------------- OPERATING INCOME %-CILCORP 4.41% 5.81% CILCORP (Including CILCO) 107 138 AES 2,322 2,237 AES/CILCORP 2,429 2,375 --------------------------------------------------------------------------------------------------------- NET INCOME %-CILCO 7.62% 6.54% CILCO 34 35 AES 434 490 AES/CILCORP 446 535 --------------------------------------------------------------------------------------------------------- NET INCOME %-CILCORP 2.69% 8.41% CILCORP (Including CILCO) 12 45 AES 434 490 AES/CILCORP 446 535 --------------------------------------------------------------------------------------------------------- NET ASSETS %-CILCO 2.81% 3.02% CILCO 1,070 1,103 AES 36,277 34,688 AES/CILCORP 38,135 36,566 --------------------------------------------------------------------------------------------------------- NET ASSETS %-CILCORP 4.87% 5.14% CILCORP (Including CILCO) 1,858 1,878 AES 36,277 34,688 AES/CILCORP 38,135 36,566 ---------------------------------------------------------------------------------------------------------
- ------------------------ (1) This schedule presents, on a proforma basis, the results of operations of AES excluding the following items: (1) Mark to market effect of FAS No. 133. (For the 12-month period ending September 30, 2002, the net mark to market gain from FAS No. 133 was $83 million.); (2) Loss on sale or write-down of investments. (In the second quarter of 2002, AES recorded an impairment charge of $40 million on an equity method of investment in a telecommunications company in Latin America, and a loss on the sale of an equity method investment in a telecommunications company in Latin America of approximately $14 million. In the first quarter of 2002, a subsidiary of AES sold an available-for-sale security resulting in gross proceeds of $92 million. The realized loss on the sale was $50 million. Approximately $48 million of the loss related to recognition of previously unrealized losses which had been recorded in other comprehensive income.); (3) Foreign currency transaction losses. (Foreign currency transaction losses due to devaluation in Brazilian Real and devaluation in the Argentina Peso offset by foreign transaction gains in Venezuelan Bolivar. The net foreign currency transaction loss is approximately $284 million.); (4) Discontinued operations. (The schedule excludes net loss of discontinued operations of $513 million consisting mainly of Termocandelaria, IB Valley, Power Direct, telecommunications businesses in Brazil and US, Fifoots, Eletronet, Cilcorp, NewEnergy and Medina Valley.); (5) Accounting change. (In April 2002, AES adopted Derivative Implementation Group (DIG) Issue C-15 which established specific guidelines for certain contracts to be considered normal purchases and normal sales contracts. This resulted in a cumulative effect of an accounting change increase to $127 million, net of income tax effects. On January 1, 2002, AES adopted SFAS No. 142, "Goodwill and Other Intangible Assets" which establishes accounting and reporting standards for goodwill and other intangible assets. The adoption of SFAS No. 142 resulted in a cumulative reduction to income of $473 million, net of income tax effects.); (6) Provision for regulatory decision in Brazil. (AES has recorded the retroactive regulatory decision by the Brazilian regulator depriving AES Sul of amounts the company believes it was entitled to receive as a reduction in revenue.) If the excluded amounts are taken into account, certain CILCO/CILCORP contributions to AES/CILCORP on a consolidated basis would be different as follows: (5.01%) CILCO to Net Income and (6.44%) CILCORP to Net Income. (2) For purposes of comparison with the prior period, the CILCORP and CILCO data for gross revenues, net operating revenues and operating income were added to AES consolidated data to arrive at AES/CILCORP amounts. 16 ITEM (3) PER EXEMPTION ORDER - GENERATION INFORMATION: AES Generating Plants in Operation at September 30, 2002 (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 AES Hemphill USA 14 70 10 QF AES Mendota USA 25 100 25 QF AES Delano USA 50 100 50 QF AES Mountainview USA 126 100 126 EWG AES Medina Valley (sale pending) USA 47 100 47 EWG AES Ironwood USA 705 100 705 EWG AES Red Oak USA 832 100 832 EWG AES Riverside* USA 154 100 154 EWG ----- ----- DOMESTIC SUBTOTAL: 8,426 8,422
* Currently in discontinued operations status.
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 Argentina 45 100 45 FUCO AES Alicura Argentina 1,000 100 1,000 FUCO CEMIG - Miranda Brazil 390 9 35 FUCO 17 CEMIG - Igarapava Brazil 210 1 2 FUCO CEMIG (35 plants) Brazil 5,068 9 456 FUCO AES Bayano Panama 236 49 116 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 AES Xiangci - Cili China 26 51 13 FUCO Wuhu China 250 25 63 FUCO Chengdu Lotus City China 48 35 17 FUCO AES Jiaozuo China 250 70 175 FUCO AES Hefei China 115 70 81 FUCO AES Chongqing Nanchuan China 50 70 35 FUCO Yangcheng China 2,100 25 525 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 Managt 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 92 479 FUCO AES Barry U.K. 230 100 230 FUCO AES Drax U.K. 4,065 100 4,065 FUCO AES Uruguaiana Brazil 600 100 600 FUCO AES Tiete (10 plants) Brazil 2,650 53 1,405 FUCO AES EDC 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 Managt 0 FUCO AES Khrami II Georgia 110 Managt 0 FUCO AES Ottana Italy 140 100 140 FUCO AES Mammonal Columbia 90 62 56 FUCO AES Chivor Columbia 1,000 96 960 FUCO AES Gener-Electrica de Santiago Chile 379 89 337 FUCO AES Gener-Energia Verde Chile 39 99 39 FUCO AES Gener-Guacolda Chile 304 49 149 FUCO AES Gener-Norgener Chile 277 99 274 FUCO Itabo (pending sale) Dom. Rep. 587 24 141 FUCO AES Bohemia Czech Rep. 50 83 42 FUCO AES SONEL Cameroon 800 51 408 FUCO Central Dique Argentina 68 51 35 FUCO AES Termoandes Argentina 643 99 637 FUCO AES Parana Argentina 845 67 566 FUCO 18 AES Kelvin Rep. South 600 95 570 FUCO Africa Ebute Nigeria 290 95 276 FUCO AES Gener - Cordillera Chile 245 99 243 FUCO AES Gener - Costa Chile 512 99 507 FUCO AES Haripur Bangladesh 360 100 360 FUCO ------ ------ 43,236 30,864 FOREIGN SUBTOTAL: TOTAL - September 30, 2002 51,662 39,286 Foreign Generation as a Percentage of Total: 84% 79%
CILCORP Generating Plants at September 30, 2002:
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 - September 30, 2002 1,172 1,172
Revenues from electric generation capacity - 12 months ended September 30, 2002 (millions of dollars): CILCORP 157 4% AES (excluding CILCORP)(1) 4,231 96% ------------ ----------- Total 4,388 100%
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. There has been no change in the amount of generation capacity owned by CILCORP and a 290 MW decrease in the amount of generation capacity owned by AES (excluding CILCORP and IPALCO) from 39,576 to 39,286 MW since June 30, 2002. There has been a less than 1% increase in the total revenues earned from the capacity owned by AES and CILCORP in the 12-month period ended September 30, 2002 compared with the 12-month period ended June 30, 2002. The percentage of the total revenues derived from the generation capacity owned by CILCORP has remained the same at 4%. - ----------------------- (1) Includes revenues from electric generating capacity owned by IPALCO. 19 The only country in which there was a net increase in AES' MW capacity since June 30, 2002 was the United States. ITEM (4) PER EXEMPTION ORDER - ELECTRIC TRANSMISSION AND DISTRIBUTION AND GAS DISTRIBUTION: Electric transmission and distribution and gas distribution assets owned as of September 30, 2002 (millions of dollars): CILCORP 790 Total AES (excluding CILCORP)(1) 6,283 -------- Total 7,073 Electric transmission and distribution and gas distribution revenues for 12 months ending September 30, 2002 (millions of dollars): CILCORP 427 Total AES (excluding CILCORP)(2) 4,410 -------- Total 4,837 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. The total transmission and distribution assets owned by AES and CILCORP have decreased since June 30, 2002. CILCORP's transmission and distribution assets have decreased slightly while the revenues derived from such assets have increased slightly since June 30, 2002. AES' transmission and distribution assets have decreased and the revenues derived from such assets have decreased since June 30, 2002. CILCORP's percentage of the total transmission and distribution assets has increased from 10% to 11%, and CILCORP's percentage of the total revenues from such assets has increased from 8% to 9% for the 12-month period ending September 30, 2002 compared to the 12-month period ending June 30, 2002. ITEM (5) PER EXEMPTION ORDER: CILCO has not sold or transferred any electric and/or gas utility assets to any affiliate company of the AES consolidated holding company system during the third quarter of 2002. ITEM (6) PER EXEMPTION ORDER: On June 19, 2002, CILCO and Ameren Corporation (jointly, "Applicants") filed a joint application with the Illinois Commerce Commission for authority to engage in a reorganization, and to enter into various agreements in connection therewith, including agreements with affiliated interests, and for such other approvals as may - ---------------- (1) Includes transmission and distribution assets owned by IPALCO. (2) Includes revenues from transmission and distribution assets owned by IPALCO. 20 be required under the Illinois Public Utilities Act to effectuate the reorganization. The filing was made in Docket No. 02-0428, and a copy is incorporated by reference to the certificate being filed concurrently with this certificate in File No. 70-9779. Evidentiary hearings were held in this matter on October 24 and 25, 2002, in Springfield, Illinois, before an Administrative Law Judge. The docket was marked "Heard and Taken" at the conclusion of the hearings. The Applicants filed an "Applicant's Draft Proposed Order" on November 13, 2002. 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 27th day of November, 2002 by the undersigned thereunto duly authorized. The AES Corporation By: /s/ ERIK LUCKAU ------------------------- Erik Luckau Associate General Counsel 21 -----END PRIVACY-ENHANCED MESSAGE-----