Commission
|
Registrant;
State of Incorporation;
|
I.R.S.
Employer
|
File
Number
|
Address;
and Telephone Number
|
Identification
No.
|
333-21011
|
FIRSTENERGY
CORP.
|
34-1843785
|
(An
Ohio Corporation)
|
||
76
South Main Street
|
||
Akron,
OH 44308
|
||
Telephone
(800)736-3402
|
||
1-2578
|
OHIO
EDISON COMPANY
|
34-0437786
|
(An
Ohio Corporation)
|
||
c/o
FirstEnergy Corp.
|
||
76
South Main Street
|
||
Akron,
OH 44308
|
||
Telephone
(800)736-3402
|
||
1-2323
|
THE
CLEVELAND ELECTRIC ILLUMINATING COMPANY
|
34-0150020
|
(An
Ohio Corporation)
|
||
c/o
FirstEnergy Corp.
|
||
76
South Main Street
|
||
Akron,
OH 44308
|
||
Telephone
(800)736-3402
|
||
1-3583
|
THE
TOLEDO EDISON COMPANY
|
34-4375005
|
(An
Ohio Corporation)
|
||
c/o
FirstEnergy Corp.
|
||
76
South Main Street
|
||
Akron,
OH 44308
|
||
Telephone
(800)736-3402
|
||
1-3491
|
PENNSYLVANIA
POWER COMPANY
|
25-0718810
|
(A
Pennsylvania Corporation)
|
||
c/o
FirstEnergy Corp.
|
||
76
South Main Street
|
||
Akron,
OH 44308
|
||
Telephone
(800)736-3402
|
Authority
|
Series
|
Principal
Amount
|
Maturity
|
OWDA
|
Series
2005-A
|
$
99,100,000
|
August
1,
2033
|
OWDA
|
Series
2005-B
|
82,800,000
|
January
1,
2034
|
OAQDA
|
Series
2005-A
|
8,000,000
|
August
1,
2033
|
OAQDA
|
Series
2005-B
|
7,200,000
|
January
1,
2034
|
BCIDA
|
Series
2005-A
|
72,650,000
|
January
1,
2035
|
Total
|
$269,750,000
|
a.
|
The
elimination of operating revenues from the lease rental of non-nuclear
generation assets to FGCO.
|
b.
|
The
elimination of depreciation expense on non-nuclear generation
assets.
|
c.
|
The
elimination of property tax expense on non-nuclear generation
assets.
|
d.
|
The
addition
of interest income on the new associated company note receivable
from FGCO
for the transfer of non-nuclear generation net assets.
|
e.
|
The
elimination of wholesale revenues from the sale of nuclear generation
to
FES.
|
f.
|
The
elimination of fuel expense related to nuclear generation
assets.
|
g.
|
The
elimination of operating costs related to nuclear generation
assets.
|
h.
|
The
elimination of depreciation expense and asset retirement obligation
accretion related to nuclear generation assets.
|
i.
|
The
elimination of property tax expense on nuclear generation
assets.
|
j.
|
The
elimination of earnings on nuclear decommissioning
trusts.
|
k.
|
The
addition
of interest income on the new associated company note receivable
from NGC
for the transfer of nuclear generation assets.
|
l.
|
The
elimination of interest expense on pollution control revenue bonds
to be
transferred with the disposition of nuclear generation assets.
|
m.
|
The
elimination of the allowance for borrowed funds used during construction
on nuclear capital expenditures.
|
n.
|
The
reduction
of interest expense on associated company money pool debt resulting
from
the utilization of NGC's initial payment on the new associated
company
note receivable.
|
o.
|
To
reclassify
the reversal of the lease market valuation liability from nuclear
operating costs to purchased power.
|
p.
|
The
income
tax effect of the pro forma adjustments at a composite tax rate
of
approximately 41%.
|
OHIO
EDISON COMPANY
|
||||||||||||||||||||||
PRO
FORMA CONSOLIDATED STATEMENT OF INCOME
|
||||||||||||||||||||||
for
the nine month period ended September 30, 2005
|
||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||
Non-Nuclear
|
Nuclear
|
|||||||||||||||||||||
As
Reported
|
Adjustments
|
Pro
Forma
|
Adjustments
|
Pro
Forma
|
||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||
OPERATING
REVENUES
|
$
|
2,268,760
|
$
|
(132,999
|
) a
|
|
$
|
2,135,761
|
$
|
(219,942
|
)
e
|
$
|
1,915,819
|
|||||||||
OPERATING
EXPENSES AND TAXES:
|
||||||||||||||||||||||
Fuel
|
39,080
|
39,080
|
(32,188
|
)
f
|
6,892
|
|||||||||||||||||
Purchased
power
|
703,658
|
703,658
|
703,658
|
|||||||||||||||||||
Nuclear
operating costs
|
264,514
|
264,514
|
(122,527
|
)
g
|
141,987
|
|||||||||||||||||
Other
operating costs
|
293,530
|
293,530
|
293,530
|
|||||||||||||||||||
Provision
for
depreciation
|
87,875
|
(30,124
|
)
b
|
|
57,751
|
(10,520
|
)
h
|
|
47,231
|
|||||||||||||
Amortization
of regulatory assets
|
347,880
|
347,880
|
347,880
|
|||||||||||||||||||
Deferral
of
new regulatory assets
|
(107,750
|
)
|
(107,750
|
)
|
(107,750
|
)
|
||||||||||||||||
General
taxes
|
146,066
|
(4,247
|
)
c
|
141,819
|
(4,415
|
)
i
|
137,404
|
|||||||||||||||
Income
taxes
|
245,942
|
(40,801
|
)
p
|
|
205,141
|
(21,691
|
)
p
|
183,450
|
||||||||||||||
Total
operating expenses and taxes
|
2,020,795
|
(75,172
|
)
|
1,945,623
|
(191,341
|
)
|
1,754,282
|
|||||||||||||||
OPERATING
INCOME
|
247,965
|
(57,827
|
)
|
190,138
|
(28,601
|
)
|
161,537
|
|||||||||||||||
(6,590
|
)
j
|
|||||||||||||||||||||
7,504
|
k
|
|||||||||||||||||||||
OTHER
INCOME (net of income taxes)
|
37,352
|
20,832
|
d
|
58,184
|
914
|
59,098
|
||||||||||||||||
NET
INTEREST CHARGES:
|
||||||||||||||||||||||
Interest
on
long-term debt
|
44,330
|
44,330
|
(4,109
|
)
l
|
40,221
|
|||||||||||||||||
Allowance
for
borrowed funds used during construction
|
(8,255
|
)
|
(8,255
|
)
|
6,615
|
m |
|
(1,640
|
)
|
|||||||||||||
Other
interest
expense
|
12,457
|
12,457
|
(455
|
)
n
|
|
12,002
|
||||||||||||||||
Subsidiary's
preferred stock dividend requirements
|
1,534
|
1,534
|
1,534
|
|||||||||||||||||||
Net
interest
charges
|
50,066
|
-
|
50,066
|
2,051
|
52,117
|
|||||||||||||||||
NET
INCOME
|
235,251
|
(36,995
|
)
|
198,256
|
(29,738
|
)
|
168,518
|
|||||||||||||||
PREFERRED
STOCK DIVIDEND REQUIREMENTS
|
1,976
|
1,976
|
1,976
|
|||||||||||||||||||
EARNINGS
ON COMMON STOCK
|
$
|
233,275
|
$
|
(36,995
|
)
|
$
|
196,280
|
$
|
(29,738
|
)
|
$
|
166,542
|
||||||||||
THE
CLEVELAND ELECTRIC ILLUMINATING COMPANY
|
||||||||||||||||||||||
PRO
FORMA CONSOLIDATED STATEMENT OF INCOME
|
||||||||||||||||||||||
for
the nine month period ended September 30, 2005
|
||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||
Non-Nuclear
|
Nuclear
|
|||||||||||||||||||||
As
Reported
|
Adjustments
|
Pro
Forma
|
Adjustments
|
Pro
Forma
|
||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||
OPERATING
REVENUES
|
$
|
1,408,341
|
$
|
(43,922
|
)
a
|
|
$
|
1,364,419
|
$
|
(165,683
|
)
e
|
|
$
|
1,198,736
|
||||||||
OPERATING
EXPENSES AND TAXES:
|
||||||||||||||||||||||
Fuel
|
64,138
|
64,138
|
(24,614
|
)
f
|
39,524
|
|||||||||||||||||
Purchased
power
|
411,366
|
411,366
|
(23,400
|
)
o
|
|
387,966
|
||||||||||||||||
Nuclear
operating costs
|
121,765
|
121,765
|
(121,765
|
)
g,o
|
|
-
|
||||||||||||||||
Other
operating costs
|
227,759
|
227,759
|
227,759
|
|||||||||||||||||||
Provision
for
depreciation
|
100,602
|
(15,064
|
)
b
|
85,538
|
(30,036
|
)
h
|
|
55,502
|
||||||||||||||
Amortization
of regulatory assets
|
177,497
|
177,497
|
177,497
|
|||||||||||||||||||
Deferral
of
new regulatory assets
|
(126,508
|
)
|
(126,508
|
)
|
(126,508
|
)
|
||||||||||||||||
General
taxes
|
115,546
|
(5,276
|
)
c
|
110,270
|
(6,719
|
)
i
|
|
103,551
|
||||||||||||||
Income
taxes
|
94,897
|
(9,731
|
)
p
|
|
85,166
|
20,605
|
p |
|
105,771
|
|||||||||||||
Total
operating expenses and taxes
|
1,187,062
|
(30,071
|
)
|
1,156,991
|
(185,929
|
)
|
971,062
|
|||||||||||||||
OPERATING
INCOME
|
221,279
|
(13,851
|
)
|
207,428
|
20,246
|
227,674
|
||||||||||||||||
(16,118
|
)
j
|
|||||||||||||||||||||
13,934
|
k | |||||||||||||||||||||
OTHER
INCOME (net of income taxes)
|
37,691
|
10,276
|
d |
47,967
|
(2,184
|
)
|
45,783
|
|||||||||||||||
NET
INTEREST CHARGES:
|
||||||||||||||||||||||
Interest
on
long-term debt
|
83,452
|
83,452
|
83,452
|
|||||||||||||||||||
Allowance
for
borrowed funds used during construction
|
(2,012
|
)
|
(2,012
|
)
|
1,489
|
m |
|
(523
|
)
|
|||||||||||||
Other
interest
expense
|
12,952
|
12,952
|
(10,567
|
)
n
|
|
2,385
|
||||||||||||||||
Net
interest
charges
|
94,392
|
-
|
94,392
|
(9,078
|
)
|
85,314
|
||||||||||||||||
NET
INCOME
|
164,578
|
(3,575
|
)
|
161,003
|
27,140
|
188,143
|
||||||||||||||||
PREFERRED
STOCK DIVIDEND REQUIREMENTS
|
2,918
|
2,918
|
2,918
|
|||||||||||||||||||
EARNINGS
ON COMMON STOCK
|
$
|
161,660
|
$
|
(3,575
|
)
|
$
|
158,085
|
$
|
27,140
|
$
|
185,225
|
|||||||||||
THE
TOLEDO EDISON COMPANY
|
||||||||||||||||||||||
PRO
FORMA CONSOLIDATED STATEMENT OF INCOME
|
||||||||||||||||||||||
for
the nine month period ended September 30, 2005
|
||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||
Non-Nuclear
|
Nuclear
|
|||||||||||||||||||||
As
Reported
|
Adjustments
|
Pro
Forma
|
Adjustments
|
Pro
Forma
|
||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||
OPERATING
REVENUES
|
$
|
787,824
|
$
|
(10,887
|
)
a
|
|
$
|
776,937
|
$
|
(97,584
|
)
e
|
|
$
|
679,353
|
||||||||
OPERATING
EXPENSES AND TAXES:
|
||||||||||||||||||||||
Fuel
|
43,474
|
43,474
|
(15,112
|
)
f
|
|
28,362
|
||||||||||||||||
Purchased
power
|
225,600
|
225,600
|
225,600
|
|||||||||||||||||||
Nuclear
operating costs
|
145,059
|
145,059
|
(82,810
|
)
g
|
|
62,249
|
||||||||||||||||
Other
operating costs
|
123,823
|
123,823
|
123,823
|
|||||||||||||||||||
Provision
for
depreciation
|
48,724
|
(2,505
|
)
b
|
|
46,219
|
(19,867
|
)
h
|
|
26,352
|
|||||||||||||
Amortization
of regulatory assets
|
107,672
|
107,672
|
107,672
|
|||||||||||||||||||
Deferral
of
new regulatory assets
|
(41,473
|
)
|
(41,473
|
)
|
(41,473
|
)
|
||||||||||||||||
General
taxes
|
41,960
|
(1,901
|
)
c
|
|
40,059
|
(2,678
|
)
i
|
|
37,381
|
|||||||||||||
Income
taxes
|
44,160
|
(2,675
|
)
p
|
|
41,485
|
11,725
|
p |
|
53,210
|
|||||||||||||
Total
operating expenses and taxes
|
738,999
|
(7,081
|
)
|
731,918
|
(108,742
|
)
|
623,176
|
|||||||||||||||
OPERATING
INCOME
|
48,825
|
(3,806
|
)
|
45,019
|
11,158
|
56,177
|
||||||||||||||||
(11,446
|
)
j
|
|
||||||||||||||||||||
8,504
|
k |
|
||||||||||||||||||||
OTHER
INCOME (net of income taxes)
|
18,173
|
1,915
|
d |
|
20,088
|
(2,942
|
)
|
17,146
|
||||||||||||||
NET
INTEREST CHARGES:
|
||||||||||||||||||||||
Interest
on
long-term debt
|
12,655
|
12,655
|
12,655
|
|||||||||||||||||||
Allowance
for
borrowed funds used during construction
|
(117
|
)
|
(117
|
)
|
495
|
m |
|
378
|
||||||||||||||
Other
interest
expense
|
4,192
|
4,192
|
(6,022
|
)
n
|
|
(1,830
|
)
|
|||||||||||||||
Net
interest
charges
|
16,730
|
-
|
16,730
|
(5,527
|
)
|
11,203
|
||||||||||||||||
NET
INCOME
|
50,268
|
(1,891
|
)
|
48,377
|
13,743
|
62,120
|
||||||||||||||||
PREFERRED
STOCK DIVIDEND REQUIREMENTS
|
6,109
|
6,109
|
6,109
|
|||||||||||||||||||
EARNINGS
ON COMMON STOCK
|
$
|
44,159
|
$
|
(1,891
|
)
|
$
|
42,268
|
$
|
13,743
|
$
|
56,011
|
|||||||||||
PENNSYLVANIA
POWER COMPANY
|
||||||||||||||||||||||
PRO
FORMA CONSOLIDATED STATEMENT OF INCOME
|
||||||||||||||||||||||
for
the nine month period ended September 30, 2005
|
||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||
Non-Nuclear
|
Nuclear
|
|||||||||||||||||||||
As
Reported
|
Adjustments
|
Pro
Forma
|
Adjustments
|
Pro
Forma
|
||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||
OPERATING
REVENUES
|
$
|
414,306
|
$
|
(15,102
|
)
a
|
|
$
|
399,204
|
$
|
(117,776
|
)
e
|
|
$
|
281,428
|
||||||||
OPERATING
EXPENSES AND TAXES:
|
||||||||||||||||||||||
Fuel
|
17,351
|
17,351
|
(17,330
|
)
f
|
|
21
|
||||||||||||||||
Purchased
power
|
131,948
|
131,948
|
131,948
|
|||||||||||||||||||
Nuclear
operating costs
|
56,710
|
56,710
|
(56,710
|
)
g
|
|
-
|
||||||||||||||||
Other
operating costs
|
48,541
|
48,541
|
48,541
|
|||||||||||||||||||
Provision
for
depreciation
|
11,351
|
(2,726
|
)
b
|
|
8,625
|
(1,618
|
)
h
|
|
7,007
|
|||||||||||||
Amortization
of regulatory assets
|
29,499
|
29,499
|
29,499
|
|||||||||||||||||||
General
taxes
|
19,752
|
(253
|
)
c
|
|
19,499
|
(769
|
)
i
|
|
18,730
|
|||||||||||||
Income
taxes
|
43,055
|
(5,026
|
)
p
|
|
38,029
|
(17,780
|
)
p
|
|
20,249
|
|||||||||||||
Total
operating expenses and taxes
|
358,207
|
(8,005
|
)
|
350,202
|
(94,207
|
)
|
255,995
|
|||||||||||||||
OPERATING
INCOME
|
56,099
|
(7,097
|
)
|
49,002
|
(23,569
|
)
|
25,433
|
|||||||||||||||
OTHER
INCOME (net of income taxes)
|
623
|
2,951
|
d |
|
3,574
|
3,445
|
k |
|
7,019
|
|||||||||||||
NET
INTEREST CHARGES:
|
||||||||||||||||||||||
Interest
expense
|
7,477
|
7,477
|
(2,821
|
)
l,n
|
|
4,656
|
||||||||||||||||
Allowance
for
borrowed funds used during construction
|
(4,508
|
)
|
(4,508
|
)
|
4,357
|
m |
|
(151
|
)
|
|||||||||||||
Net
interest
charges
|
2,969
|
-
|
2,969
|
1,536
|
4,505
|
|||||||||||||||||
NET
INCOME
|
53,753
|
(4,146
|
)
|
49,607
|
(21,660
|
)
|
27,947
|
|||||||||||||||
PREFERRED
STOCK DIVIDEND REQUIREMENTS
|
1,534
|
1,534
|
1,534
|
|||||||||||||||||||
EARNINGS
ON COMMON STOCK
|
$
|
52,219
|
$
|
(4,146
|
)
|
$
|
48,073
|
$
|
(21,660
|
)
|
$
|
26,413
|
||||||||||
a.
|
The
transfer
of non-nuclear generation plant in service to FGCO.
|
b.
|
The
transfer
of the accumulated provision for depreciation on non-nuclear plant
in
service to FGCO.
|
c.
|
The
establishment of an associated company note receivable as consideration
for pollution control debt to be assumed by FGCO or NGC at a future
date.
|
d.
|
The
establishment of an associated company note receivable as consideration
for the purchased assets and assumption of liabilities.
|
e.
|
The
transfer
of other property and investments related to non-nuclear plant assets
to
FGCO.
|
f.
|
The
transfer
of the current portion of pollution control revenue bonds related
to
nuclear generation plant to NGC.
|
g.
|
The
transfer
of materials and supplies for non-nuclear generation plant to
FGCO.
|
h.
|
The
transfer
of accrued interest for debt related to nuclear generation plant
to
NGC.
|
i.
|
The
distribution of the nuclear net assets spin as a dividend to the
respective parent company.
|
j.
|
To
record in
other paid-in capital the difference between the net book value and
the
purchase price, pursuant to the purchase option in the Master Lease,
for
the non-nuclear generation assets.
|
k.
|
The
transfer
of unrealized gains and losses on decommissioning trust investments
recorded as other comprehensive income to NGC.
|
l.
|
The
use of
proceeds from the nuclear asset transfer to reduce associated company
money pool debt.
|
m.
|
The
transfer
of accumulated deferred income taxes for non-nuclear generation plant
to
FGCO.
|
n.
|
The
transfer
of accumulated deferred investment tax credits for non-nuclear generation
plant to FGCO.
|
o.
|
The
transfer
of asset retirement obligations related to the non-nuclear generation
plants to FGCO.
|
p.
|
The
transfer
of other property and investments related to nuclear plant assets
to
NGC.
|
q.
|
The
transfer
of nuclear plant in service and nuclear fuel in service to
NGC.
|
r.
|
The
transfer
of the accumulated provision for depreciation and amortization for
nuclear
plant in service and nuclear fuel in service to NGC.
|
s.
|
The
transfer
of nuclear plant construction work in progress to NGC.
|
t.
|
The
transfer
of nuclear fuel construction work in progress to NGC.
|
u.
|
The
transfer
of nuclear plant decommissioning trusts to NGC.
|
v.
|
The
establishment of a parent company investment in NGC.
|
w.
|
The
transfer
of materials and supplies for nuclear plant to NGC.
|
x.
|
The
reversal
of regulatory liabilities to reflect the discontinued application
of SFAS
No. 71 accounting for decommissioning trust activity.
|
y.
|
The
transfer
of other current liabilities related to nuclear generation plant
to
NGC.
|
z.
|
The
transfer
of accumulated deferred income taxes for nuclear generation plant
to
NGC.
|
aa.
|
The
transfer
of other deferred charges for nuclear plant to NGC.
|
bb.
|
The
transfer
of asset retirement obligations related to the nuclear generation
plants
to NGC.
|
cc.
|
The
transfer
of the long-term portion of pollution control revenue bonds related
to
nuclear generation plant to NGC.
|
dd.
|
The
transfer
of accumulated deferred investment tax credits for nuclear generation
plant to NGC.
|
ee.
|
The
transfer
of OES Nuclear common stock to NGC.
|
OHIO
EDISON COMPANY
|
||||||||||||||||||||||||||||
PRO
FORMA CONSOLIDATED BALANCE SHEET
|
||||||||||||||||||||||||||||
As
of
September 30, 2005
|
||||||||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||||||||
Transfer
|
||||||||||||||||||||||||||||
Non-nuclear
|
Nuclear
|
Investment
in
|
||||||||||||||||||||||||||
As
Reported
|
Adjustments
|
Pro
Forma
|
Adjustments
|
Subsidiary
|
Pro
Forma
|
|||||||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||||||||
ASSETS
|
||||||||||||||||||||||||||||
UTILITY
PLANT:
|
||||||||||||||||||||||||||||
In
service
|
$
|
5,573,996
|
$
|
(2,248,017
|
)
a
|
|
$
|
3,325,979
|
$
|
(1,056,145
|
)
q
|
|
$
|
-
|
$
|
2,269,834
|
||||||||||||
Less-Accumulated
provision for depreciation
|
2,793,343
|
(1,317,719
|
)
b
|
|
1,475,624
|
(631,569
|
)
r
|
|
844,055
|
|||||||||||||||||||
2,780,653
|
(930,298
|
)
|
1,850,355
|
(424,576
|
)
|
-
|
1,425,779
|
|||||||||||||||||||||
Construction
work in progress-
|
-
|
|||||||||||||||||||||||||||
Electric
plant
|
246,325
|
246,325
|
(225,116
|
)
s
|
|
21,209
|
||||||||||||||||||||||
Nuclear
Fuel
|
17,972
|
17,972
|
(17,972
|
)
t
|
|
-
|
||||||||||||||||||||||
264,297
|
-
|
264,297
|
(243,088
|
)
|
-
|
21,209
|
||||||||||||||||||||||
3,044,950
|
(930,298
|
)
|
2,114,652
|
(667,664
|
)
|
-
|
1,446,988
|
|||||||||||||||||||||
OTHER
PROPERTY AND INVESTMENTS:
|
-
|
|||||||||||||||||||||||||||
Investment
in
lease obligation bonds
|
341,335
|
341,335
|
341,335
|
|||||||||||||||||||||||||
Nuclear
plant
decommissioning trusts
|
462,439
|
462,439
|
(362,099
|
)
u
|
|
100,340
|
||||||||||||||||||||||
Long-term
notes receivable from associated companies
|
207,089
|
1,146,169
|
c,d |
|
1,353,258
|
377,430
|
c,d |
|
1,730,688
|
|||||||||||||||||||
Other
|
44,623
|
(367
|
)
e
|
|
44,256
|
112,709
|
p,v |
|
(112,911
|
)
i
|
|
44,054
|
||||||||||||||||
1,055,486
|
1,145,802
|
2,201,288
|
128,040
|
(112,911
|
)
|
2,216,417
|
||||||||||||||||||||||
CURRENT
ASSETS:
|
-
|
|||||||||||||||||||||||||||
Cash
and cash
equivalents
|
900
|
900
|
900
|
|||||||||||||||||||||||||
Receivables-
|
-
|
|||||||||||||||||||||||||||
Customers
|
285,462
|
285,462
|
285,462
|
|||||||||||||||||||||||||
Associated
companies
|
121,262
|
121,262
|
121,262
|
|||||||||||||||||||||||||
Other
|
20,653
|
20,653
|
20,653
|
|||||||||||||||||||||||||
Notes
receivable from associated companies
|
798,513
|
798,513
|
798,513
|
|||||||||||||||||||||||||
Materials
and
supplies, at average cost
|
92,610
|
(2,644
|
)
g
|
|
89,966
|
(89,966
|
)
w
|
|
-
|
|||||||||||||||||||
Prepayments
and other
|
17,336
|
17,336
|
17,336
|
|||||||||||||||||||||||||
1,336,736
|
(2,644
|
)
|
1,334,092
|
(89,966
|
)
|
-
|
1,244,126
|
|||||||||||||||||||||
DEFERRED
CHARGES:
|
-
|
|||||||||||||||||||||||||||
Regulatory
assets
|
844,590
|
844,590
|
63,367
|
x |
|
907,957
|
||||||||||||||||||||||
Property
taxes
|
61,419
|
61,419
|
61,419
|
|||||||||||||||||||||||||
Unamortized
sale and leaseback costs
|
56,477
|
56,477
|
56,477
|
|||||||||||||||||||||||||
Other
|
67,093
|
67,093
|
(3,454
|
)
aa
|
|
63,639
|
||||||||||||||||||||||
1,029,579
|
-
|
1,029,579
|
59,913
|
1,089,492
|
||||||||||||||||||||||||
$
|
6,466,751
|
$
|
212,860
|
$
|
6,679,611
|
$
|
(569,677
|
)
|
$
|
(112,911
|
)
|
$
|
5,997,023
|
|||||||||||||||
CAPITALIZATION
AND LIABILITIES
|
||||||||||||||||||||||||||||
CAPITALIZATION:
|
||||||||||||||||||||||||||||
Common
stockholder's equity-
|
||||||||||||||||||||||||||||
Common
stock,
without par value
|
$
|
2,099,099
|
$
|
174,835
|
j |
|
$
|
2,273,934
|
$
|
(10
|
)
ee
|
|
$
|
-
|
$
|
2,273,924
|
||||||||||||
Accumulated
other comprehensive loss
|
(58,484
|
)
|
(58,484
|
)
|
(7,181
|
)
k
|
|
(65,665
|
)
|
|||||||||||||||||||
Retained
earnings
|
434,473
|
434,473
|
37,147
|
x |
|
(112,911
|
)
i
|
|
358,709
|
|||||||||||||||||||
Total
common
stockholder's equity
|
2,475,088
|
174,835
|
2,649,923
|
29,956
|
(112,911
|
)
|
2,566,968
|
|||||||||||||||||||||
Preferred
stock
|
60,965
|
60,965
|
60,965
|
|||||||||||||||||||||||||
Preferred
stock of consolidated subsidiary
|
14,105
|
14,105
|
14,105
|
|||||||||||||||||||||||||
Long-term
debt
and other long-term obligations
|
1,099,147
|
1,099,147
|
(267,728
|
)
cc
|
|
831,419
|
||||||||||||||||||||||
3,649,305
|
174,835
|
3,824,140
|
(237,772
|
)
|
(112,911
|
)
|
3,473,457
|
|||||||||||||||||||||
CURRENT
LIABILITIES:
|
||||||||||||||||||||||||||||
Currently
payable long-term debt
|
273,656
|
273,656
|
(15,500
|
)
f
|
|
258,156
|
||||||||||||||||||||||
Short-term
borrowings-
|
||||||||||||||||||||||||||||
Associated
companies
|
120,971
|
120,971
|
(20,000
|
)
l
|
|
100,971
|
||||||||||||||||||||||
Other
|
123,584
|
123,584
|
123,584
|
|||||||||||||||||||||||||
Accounts
payable-
|
||||||||||||||||||||||||||||
Associated
companies
|
81,980
|
81,980
|
81,980
|
|||||||||||||||||||||||||
Other
|
11,289
|
11,289
|
11,289
|
|||||||||||||||||||||||||
Accrued
taxes
|
213,843
|
213,843
|
213,843
|
|||||||||||||||||||||||||
Other
|
117,268
|
117,268
|
(4,756
|
)
y
|
|
112,512
|
||||||||||||||||||||||
942,591
|
-
|
942,591
|
(40,256
|
)
|
-
|
902,335
|
||||||||||||||||||||||
NONCURRENT
LIABILITIES:
|
||||||||||||||||||||||||||||
Accumulated
deferred income taxes
|
688,702
|
71,153
|
m |
|
759,855
|
2,432
|
z |
|
762,287
|
|||||||||||||||||||
Accumulated
deferred investment tax credits
|
52,108
|
(23,908
|
)
n
|
|
28,200
|
(812
|
)
dd
|
|
27,388
|
|||||||||||||||||||
Asset
retirement obligation
|
364,525
|
(9,220
|
)
o
|
|
355,305
|
(293,269
|
)
bb
|
|
62,036
|
|||||||||||||||||||
Retirement
benefits
|
320,044
|
320,044
|
320,044
|
|||||||||||||||||||||||||
Other
|
449,476
|
449,476
|
449,476
|
|||||||||||||||||||||||||
1,874,855
|
38,025
|
1,912,880
|
(291,649
|
)
|
-
|
1,621,231
|
||||||||||||||||||||||
COMMITMENTS
AND CONTINGENCIES
|
||||||||||||||||||||||||||||
$
|
6,466,751
|
$
|
212,860
|
$
|
6,679,611
|
$
|
(569,677
|
)
|
$
|
(112,911
|
)
|
$
|
5,997,023
|
|||||||||||||||
THE
CLEVELAND ELECTRIC ILLUMINATING COMPANY
|
||||||||||||||||||||||
PRO
FORMA CONSOLIDATED BALANCE SHEET
|
||||||||||||||||||||||
as
of
September 30, 2005
|
||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||
Non-nuclear
|
Nuclear
|
|||||||||||||||||||||
As
Reported
|
Adjustments
|
Pro
Forma
|
Adjustments
|
Pro
Forma
|
||||||||||||||||||
ASSETS
|
||||||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||
UTILITY
PLANT:
|
||||||||||||||||||||||
In
service
|
$
|
4,498,876
|
$
|
(1,252,552
|
)
a
|
|
$
|
3,246,324
|
$
|
(1,235,420
|
)
q
|
|
$
|
2,010,904
|
||||||||
Less-Accumulated
provision for depreciation
|
2,020,868
|
(823,166
|
)
b
|
|
1,197,702
|
(422,802
|
)
r
|
|
774,900
|
|||||||||||||
2,478,008
|
(429,386
|
)
|
2,048,622
|
(812,618
|
)
|
1,236,004
|
||||||||||||||||
Construction
work in progress-
|
||||||||||||||||||||||
Electric
plant
|
90,911
|
90,911
|
(53,982
|
)
s
|
|
36,929
|
||||||||||||||||
Nuclear
fuel
|
8,632
|
8,632
|
(8,632
|
)
t
|
|
-
|
||||||||||||||||
99,543
|
-
|
99,543
|
(62,614
|
)
|
36,929
|
|||||||||||||||||
2,577,551
|
(429,386
|
)
|
2,148,165
|
(875,232
|
)
|
1,272,933
|
||||||||||||||||
OTHER
PROPERTY AND INVESTMENTS:
|
||||||||||||||||||||||
Investment
in
lessor notes
|
564,169
|
564,169
|
564,169
|
|||||||||||||||||||
Nuclear
plant
decommissioning trusts
|
427,920
|
427,920
|
(427,920
|
)
u
|
|
-
|
||||||||||||||||
Long-term
notes receivable from associated companies
|
8,774
|
389,462
|
c,d |
|
398,236
|
528,102
|
c,d |
|
926,338
|
|||||||||||||
Other
|
16,028
|
(3,889
|
)
e
|
|
12,139
|
(1,518
|
)
p
|
|
10,621
|
|||||||||||||
1,016,891
|
385,573
|
1,402,464
|
98,664
|
1,501,128
|
||||||||||||||||||
CURRENT
ASSETS:
|
||||||||||||||||||||||
Cash
and cash
equivalents
|
207
|
207
|
207
|
|||||||||||||||||||
Receivables-
|
||||||||||||||||||||||
Customers
|
255,769
|
255,769
|
255,769
|
|||||||||||||||||||
Associated
companies
|
19,883
|
19,883
|
19,883
|
|||||||||||||||||||
Other
|
9,651
|
9,651
|
9,651
|
|||||||||||||||||||
Materials
and
supplies, at average cost
|
72,506
|
(11,461
|
)
g
|
|
61,045
|
(61,045
|
)
w
|
|
-
|
|||||||||||||
Prepayments
and other
|
2,769
|
2,769
|
2,769
|
|||||||||||||||||||
360,785
|
(11,461
|
)
|
349,324
|
(61,045
|
)
|
288,279
|
||||||||||||||||
DEFERRED
CHARGES:
|
||||||||||||||||||||||
Goodwill
|
1,688,966
|
1,688,966
|
1,688,966
|
|||||||||||||||||||
Regulatory
assets
|
889,127
|
889,127
|
889,127
|
|||||||||||||||||||
Property
taxes
|
77,792
|
77,792
|
77,792
|
|||||||||||||||||||
Other
|
29,995
|
29,995
|
29,995
|
|||||||||||||||||||
2,685,880
|
-
|
2,685,880
|
-
|
2,685,880
|
||||||||||||||||||
$
|
6,641,107
|
$
|
(55,274
|
)
|
$
|
6,585,833
|
$
|
(837,613
|
)
|
$
|
5,748,220
|
|||||||||||
CAPITALIZATION
AND LIABILITIES
|
||||||||||||||||||||||
CAPITALIZATION:
|
||||||||||||||||||||||
Common
stockholder's equity-
|
||||||||||||||||||||||
Common
stock,
without par value
|
$
|
1,356,998
|
$
|
(31,330
|
)
j
|
|
$
|
1,325,668
|
$
|
-
|
$
|
1,325,668
|
||||||||||
Accumulated
other comprehensive income
|
12,148
|
12,148
|
(30,231
|
)
k
|
|
(18,083
|
)
|
|||||||||||||||
Retained
earnings
|
574,394
|
574,394
|
574,394
|
|||||||||||||||||||
Total
common
stockholder's equity
|
1,943,540
|
(31,330
|
)
|
1,912,210
|
(30,231
|
)
|
1,881,979
|
|||||||||||||||
Long-term
debt
and other long-term obligations
|
1,939,730
|
1,939,730
|
1,939,730
|
|||||||||||||||||||
3,883,270
|
(31,330
|
)
|
3,851,940
|