Dayton Power and Light Company
THE COMPANY
The Dayton Power and Light Company (the "Company") is a
public utility incorporated under the laws of Ohio in 1911.
Located in West Central Ohio, it furnishes electric service to
470,000 retail customers in a 24 county service area of
approximately 6,000 square miles and furnishes natural gas service
to 290,000 customers in 16 counties. In addition, the Company
provides steam heating service in downtown Dayton, Ohio. The
Company serves an estimated population of 1.2 million. Principal
industries served include electrical machinery, automotive and
other transportation equipment, non-electrical machinery,
agriculture, paper, rubber and plastic products. The Company's
sales reflect the general economic conditions and seasonal weather
patterns of the area.
RATE REGULATION AND GOVERNMENT LEGISLATION
The Company's sales of electricity, natural gas and
steam to retail customers are subject to rate regulation by the
PUCO and various municipalities. The Company's wholesale
electric rates to municipal corporations and other distributors
of electric energy are subject to regulation by FERC under the
Federal Power Act.
Steam
The Company owns two steam generating plants and the
steam distribution facility serving downtown Dayton, Ohio.
CONSOLIDATED STATEMENT OF RESULTS OF OPERATIONS
---------------------------------------------------------------------------------------------------
For the years ended December 31,
$ in millions 1994 1993 1992 1991 1990 1989 1988
---------------------------------------------------------------------------------------------------
INCOME
Utility service revenues--
Electric . . . . . . . . . . . . . . . . . . . . . $ 945.9 $ 901.3 $ 809.3
Gas . . . . . . . . . . . . . . . . . . . . . . . 237.1 245.1 203.8
Steam . . . . . . . . . . . . . . . . . . . . . . 7.3 7.3 6.7 6.3 6.8 7.2 7.4
-------------------------------------
Total utility service revenues . . . . . . . . 1,190.3 1,153.7 1,019.8
Steam sales (Mlbs) 594 607 609 626 648 712 724
customers 203 210 222 234 236 247 254
Interest and other income . . . . . . . . . . . . . . 9.4 12.0 3.8
-------------------------------------
Total income . . . . . . . . . . . . . . . . . 1,199.7 1,165.7 1,023.6
-------------------------------------
EXPENSES
CONSOLIDATED BALANCE SHEET
--------------------------------------------------------------------------------------------------
At December 31,
$ in millions 1994 1993
--------------------------------------------------------------------------------------------------
ASSETS
Electric property and plant . . . . . . . . . . . . . $2,961.5 $2,923.8
Gas property and plant . . . . . . . . . . . . . . . . 251.8 240.1
Steam and other property and plant . . . . . . . . . . 38.6 38.3
Construction work in progress . . . . . . . . . . . . 68.5 35.8
-------- --------
3,320.4 3,238.0
Less--
Accumulated depreciation and amortization . . . . . . (1,043.8) (950.6)
-------- --------
Net property and plant . . . . . . . . . . . . . . 2,276.6 2,287.4
-------- --------
from 1994 10K
Steam--
Production. . . . . . . . . . . 9,594 30 27 - 9,597
Distribution. . . . . . . . . . 4,563 350 25 - 4,888
General . . . . . . . . . . . . 69 3 - 211 283
---------- -------- ------- ------- ----------
Total steam. . . . . . . . . 14,226 383 52 211 14,768
---------- -------- ------- ------- ----------
THE DAYTON POWER AND LIGHT COMPANY
PROPERTY AND PLANT (1)
For the year ended December 31, 1991
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F
-------- -------- -------- -------- -------- --------
Balance Other Changes - Balance
Beginning Additions Retirements Additions at End
Classification of Period At Cost or Sales (2) (Deductions) (3) of Period
-------------- -------------------------------Thousands-------------------------------
Electric--
Production. . . . . . . . . . . $1,023,875 $1,001,546 $ 6,779 $ 74 $2,018,716
Transmission. . . . . . . . . . 221,366 12,420 221 (70) 233,495
Distribution. . . . . . . . . . 448,452 34,598 1,763 (223) 481,064
General . . . . . . . . . . . . 89,217 10,038 1,910 (266) 97,079
Plant held for future use
(undistributed) . . . . . . . 1,944 - - (1) 1,943
Acquisition adjustments,
being amortized . . . . . . . 1,076 - - (196) 880
---------- ---------- ------- -------- ----------
Total electric . . . . . . . 1,785,930 1,058,602 10,673 (682) 2,833,177
---------- ---------- ------- -------- ----------
Gas--
Production. . . . . . . . . . . 2,893 - - - 2,893
Storage . . . . . . . . . . . . 2,167 - - - 2,167
Distribution. . . . . . . . . . 200,658 9,946 489 31 210,146
General . . . . . . . . . . . . 1,071 65 - - 1,136
Acquisition adjustments,
being amortized . . . . . . . 325 (653) - 633 305
---------- ---------- ------- -------- ----------
Total gas. . . . . . . . . . 207,114 9,358 489 664 216,647
---------- ---------- ------- -------- ----------
Steam--
Production. . . . . . . . . . . 9,257 221 20 - 9,458
Distribution. . . . . . . . . . 4,183 481 109 - 4,555
General . . . . . . . . . . . . 69 - - - 69
---------- ---------- ------- -------- ----------
Total steam. . . . . . . . . 13,509 702 129 - 14,082
---------- ---------- ------- -------- ----------
Other property and plant . . . - - - - -
Total property and plant . . 2,006,553 1,068,662 11,291 (18) 3,063,906
Construction work in progress . 991,569 (952,316) - (2,966) 36,287
---------- ---------- ------- -------- ----------
Total. . . . . . . . . . . . $2,998,122 $ 116,346 $11,291 $ (2,984) $3,100,193
========== ========== ======= ======== ==========
Notes: See Page 2 of 2.
IV-11
Schedule V - 1991
Page 2 of 2
THE DAYTON POWER AND LIGHT COMPANY
PROPERTY AND PLANT
NOTES TO PAGE ONE OF SCHEDULE V
For the year ended December 31, 1991
(1) See Notes 1, 2 and 11 of Notes to Financial Statements of the 1991 Form 10-K Report.
(2) Retirements are at original cost.
(3) Consists primarily of amortization of acquisition adjustments and other adjustments or transfers
between plant accounts.
IV-12
Schedule VI
THE DAYTON POWER AND LIGHT COMPANY
ACCUMULATED DEPRECIATION AND AMORTIZATION (1)
For the year ended December 31, 1993
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F
-------- -------- -------- -------- -------- --------
Balance at Additions Retirements, Other Changes - Balance
Beginning Charged to Renewals and Additions at End
Classification of Period Income Replacements (Deductions) of Period
-------------- ------------------------------Thousands---------------------------------
Electric--
Production. . . . . . . . . . . $510,187 $ 74,134 $ 4,437 $ (1,963) $577,921
Transmission. . . . . . . . . . 81,451 5,971 376 (104) 86,942
Distribution. . . . . . . . . . 137,042 16,015 3,891 (1,728) 147,438
General . . . . . . . . . . . . 25,342 3,277 676 1,085 29,028
Plant held for future use
(undistributed) . . . . . . . 253 - - 23 276
-------- -------- -------- -------- --------
Total electric . . . . . . . 754,275 99,397 9,380 (2,687) 841,605
Gas . . . . . . . . . . . . . . 90,632 5,748 745 (186) 95,449
Steam . . . . . . . . . . . . . 8,528 315 53 (22) 8,768
Other . . . . . . . . . . . . . 4,149 575 - - 4,724
-------- -------- -------- -------- --------
Total. . . . . . . . . . . . $857,584 $106,035 (2) $ 10,178 $ (2,895) (3) $950,546
======== ======== ======== ======== ========
(1) See Note 1 of Notes to Consolidated Financial Statements of the 1993 Form 10-K Report.
(2) Additions charged to income--
Depreciation and amortization expense (per above) . . . . . . . . . . . . $106,035
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,963
--------
Total per Consolidated Statement of Results of Operations . . . . . . . $108,998
========
(3) Consists of--
Reclassification of accumulated depreciation to deferred charges . . . . (709)
Depreciation and amortization charged to other accounts . . . . . . . . . 268
Net removal cost/salvage--
Removal cost . . . . . . . . . . . $(2,310)
Salvage . . . . . . . . . . . . . . 944
-------
Net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,366)
Adjustments of previously recorded activity . . . . . . . . . . . . . . . 146
Adjustments to consolidate the Company's subsidiaries . . . . . . . . . -
Net increase (decrease) in Retirement work in progress. . . . . . . . . . (1,234)
--------
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (2,895)
========
IV-13
Schedule VI
THE DAYTON POWER AND LIGHT COMPANY
ACCUMULATED DEPRECIATION AND AMORTIZATION (1)
For the year ended December 31, 1992
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F
-------- -------- -------- -------- -------- --------
Balance at Additions Retirements, Other Changes - Balance
Beginning Charged to Renewals and Additions at End
Classification of Period Income Replacements (Deductions) of Period
-------------- ------------------------------Thousands---------------------------------
Electric--
Production. . . . . . . . . . . $445,070 $ 73,340 $ 6,700 $ (1,523) $510,187
Transmission. . . . . . . . . . 76,190 5,848 530 (57) 81,451
Distribution. . . . . . . . . . 127,657 15,186 3,920 (1,881) 137,042
General . . . . . . . . . . . . 22,593 3,116 609 242 25,342
Plant held for future use
(undistributed) . . . . . . . 231 - - 22 253
-------- -------- -------- -------- --------
Total electric . . . . . . . 671,741 97,490 11,759 (3,197) 754,275
Gas . . . . . . . . . . . . . . 86,113 5,554 916 (119) 90,632
Steam . . . . . . . . . . . . . 8,289 309 67 (3) 8,528
Other . . . . . . . . . . . . . - 551 - 3,598 4,149
-------- -------- -------- -------- --------
Total. . . . . . . . . . . . $766,143 $103,904 (2) $ 12,742 $ 279 (3) $857,584
======== ======== ======== ======== ========
(1) See Note 1 of Notes to Consolidated Financial Statements of the 1992 Form 10-K Report.
(2) Additions charged to income--
Depreciation and amortization expense (per above) . . . . . . . . . . . . $103,904
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 466
--------
Total per Consolidated Statement of Results of Operations . . . . . . . $104,370
========
(3) Consists of--
Reclassification of accumulated depreciation to deferred charges . . . . (524)
Depreciation and amortization charged to other accounts . . . . . . . . . 214
Net removal cost/salvage--
Removal cost . . . . . . . . . . . $(6,606)
Salvage . . . . . . . . . . . . . . 750
-------
Net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,856)
Adjustments of previously recorded activity . . . . . . . . . . . . . . . (196)
Adjustments to consolidate the Company's subsidiaries . . . . . . . . . 3,598
Net increase (decrease) in Retirement work in progress. . . . . . . . . . 3,043
--------
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 279
========
IV-14
Schedule VI
THE DAYTON POWER AND LIGHT COMPANY
ACCUMULATED DEPRECIATION AND AMORTIZATION (1)
For the year ended December 31, 1991
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F
-------- -------- -------- -------- -------- --------
Balance at Additions Retirements, Other Changes - Balance
Beginning Charged to Renewals and Additions at End
Classification of Period Income Replacements (Deductions) of Period
-------------- ------------------------------Thousands---------------------------------
Electric--
Production. . . . . . . . . . . $387,820 $ 66,216 $ 6,782 $ (2,184) $445,070
Transmission. . . . . . . . . . 70,959 5,522 221 (70) 76,190
Distribution. . . . . . . . . . 122,636 13,033 1,763 (6,249) 127,657
General . . . . . . . . . . . . 20,811 2,988 1,910 704 22,593
Plant held for future use
(undistributed) . . . . . . . 207 - - 24 231
-------- -------- -------- -------- --------
Total electric . . . . . . . 602,433 87,759 10,676 (7,775) 671,741
Gas . . . . . . . . . . . . . . 80,850 5,972 489 (220) 86,113
Steam . . . . . . . . . . . . . 8,118 301 129 (1) 8,289
-------- -------- -------- -------- --------
Total . . . . . . . . . . . $691,401 $ 94,032 (2) $ 11,294 $ (7,996) (3) $766,143
======== ======== ======== ======== ========
(1) See Note 1 of Notes to Financial Statements of the 1991 Form 10-K Report.
(2) Additions charged to income--
Depreciation and amortization expense (per above) . . . . . . . . . . . . $ 94,032
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179
--------
Total per Statement of Results of Operations . . . . . . . . . . . . . $ 94,211
========
(3) Consists of--
Reclassification of accumulated depreciation to deferred charges . . . . (888)
Depreciation and amortization charged to other accounts . . . . . . . . . 509
Net removal cost/salvage--
Removal cost . . . . . . . . . . . $(6,232)
Salvage . . . . . . . . . . . . . . (98)
-------
Net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6,330)
Adjustments of previously recorded activity . . . . . . . . . . . . . . . (8)
Net increase (decrease) in Retirement work in progress. . . . . . . . . . (1,279)
--------
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (7,996)
========
IV-15
Schedule VII - 1993
THE DAYTON POWER AND LIGHT COMPANY
OBLIGATIONS RELATING TO SECURITIES OF OTHER ISSUERS
At December 31, 1993
Title of Issue
Name of Issuer of Each Class of Nature of
of Securities Securities Amount Obligation
- ------------------------- ------------------------- --------------- ---------------
County of Boone, Kentucky Collateralized Pollution $48 million (1) Principal plus
Control Revenue Refunding $3.1 million of
Bonds interest
(1) The Company is obligated to pay the principa