View:
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
AMENDMENT NO. 1
TO
FORM U-3A-2
For Year Ended 1993
Statement by Holding Company Claiming
Exemption Under Rule U-3A-2 from the
Provisions of the Public Utility Holding
Company Act of 1935
Kansas City Power & Light Company
(Name of Company)
Kansas City Power & Light Company ("KCPL") hereby files with the Securities
and Exchange Commission pursuant to Rule 2, its statement claiming exemption as
a holding company from the provisions of the Public Utility Holding Company Act
of 1935, and submits the following information:
1. KCPL is a Missouri corporation whose principal executive offices are
located at 1201 Walnut, Kansas City, Missouri 64106. KCPL's principal business
consists of the generation, transmission, distribution and sale of electricity.
KCPL provides retail electric service to over 419,000 customers in a 4,700
square mile area located in all or portions of 23 counties in western
Missouri and eastern Kansas and sells electricity at wholesale to twelve
customers.
KCPL has three subsidiaries. Wolf Creek Nuclear Operating Corporation
("WCNOC"), a Delaware corporation, incorporated on April 14, 1986 to operate and
maintain the Wolf Creek Generating Station ("Wolf Creek") for the benefit of the
station owners. Wolf Creek and WCNOC are each owned by KCPL and two non-
affiliated electric utilities, Kansas Gas and Electric Company ("KG&E") a
wholly-owned subsidiary of Western Resources and Kansas Electric Power
Cooperative ("KEPCo") (collectively, the "Wolf Creek Owners") in the following
percentages: KCPL, 47%, KG&E, 47%, and KEPCo, 6%. WYMO Fuels, Inc., a wholly-
owned Missouri corporation, organized on August 5, 1976, for the acquisition and
development of coal properties. KLT Inc., a wholly-owned Missouri
corporation, organized on November 3, 1992, to invest through several KLT
companies in non-regulated, energy related enterprises.
2. The electric generating stations of KCPL and their locations are as
follows:
Estimated
1994
Year Megawatt(mw)
Unit Completed Capacity Fuel
Existing Units
Base Load......Wolf Creek 1985 545(a) Nuclear
Iatan 1980 469(a) Coal
LaCygne 2 1977 335(a) Coal
LaCygne 1 1973 343(a) Coal
Hawthorn 5 1969 457 Coal/Gas
Montrose 3 1964 161 Coal
Montrose 2 1960 152 Coal
Montrose 1 1958 150 Coal
Peak Load......Northeast 13 and 14(b) 1976 112 Oil
Northeast 17 and 18(b) 1977 108 Oil
Northeast 15 and 16(b) 1975 103 Oil
Northeast 11 and 12(b) 1972 99 Oil
Grand Avenue (two units) 1929 & 1948 64 Gas
_______________
(a) Company's share of jointly-owned unit.
(b) Combustion turbines.
KCPL owns the Hawthorn (Jackson County, Missouri), Montrose (Henry County,
Missouri), and Northeast (Jackson County, Missouri) generating stations; 50% of
LaCygne 1 and LaCygne 2 Units (Linn County, Kansas); 70% of the Iatan Unit
(Platte County, Missouri); and 47% of the Wolf Creek Station (Coffey County,
Kansas). KCPL also owns two Grand Avenue turbine-generators (Jackson County,
Missouri).
KCPL owns transmission and distribution facilities used in the sale of
electric energy to customers through its service territory. Its transmission
system is interconnected with systems of other utilities to permit direct
interchange transactions with other power suppliers in Kansas, Missouri, Iowa,
Nebraska and Minnesota. KCPL is a member of the MOKAN Power Pool, which is a
contractual arrangement among eleven utilities in Western Missouri and Kansas
which interchange energy, share reserve capacity and provide emergency and
standby services to each other.
KCPL owns approximately 1,700 overhead pole miles of transmission lines and
approximately 8,900 overhead pole miles and 2,700 underground trench miles of
distribution lines. Approximately 800 overhead pole miles of such transmission
lines are located in the State of Kansas. KCPL has all franchises necessary to
operate within the territory from which substantially all of its gross operating
revenue is derived.
3. (a)-(d)
Claimant:
Electric Energy Sold During 1993
Missouri Kansas Total
(Mwh) (Mwh) (Mwh)
Retail 7,432,472 3,871,383 11,303,855
Wholesale 55,468 53,113 108,581
During 1993, KCPL purchased 820,518 Mwh of electric energy from
outside the State of Missouri, and had bulk power sales of 562,448 Mwh
outside the State of Missouri.
Subsidiaries:
None of the subsidiaries has sales or purchases of electric energy.
4. (a)-(e)
None.
S I G N A T U R E
The above-named claimant has caused this statement to be duly executed
on its behalf by its authorized officer on this 12th day of April, 1994.
KANSAS CITY POWER & LIGHT COMPANY
(Name of claimant)
\s\ Samuel P. Cowley
Samuel P. Cowley
Senior Vice President
Corporate Seal
Attest:
\s\Jeanie Sell Latz
Corporate Secretary
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Samuel P. Cowley
Senior Vice President
Kansas City Power & Light Company
1201 Walnut
Kansas City, Missouri 64106
Exhibit A
Attached is a copy of the 1993 Consolidated Balance Sheets,
Statements of Income, and Statements of Retained Earnings for KCPL
and its subsidiaries with WCNOC and WYMO Fuels, Inc. handled as
follows:
1) WCNOC is the operating agent for Wolf Creek and is owned 47%
by KCPL. KCPLs $47 investment in WCNOC is carried in Investments
and Nonutility Property on the consolidated balance sheet. All of
Wolf Creek assets are owned by KCPL, KG&E and KEPCo ("Owners").
Since WCNOC is operating solely as an agent of the Owners, KCPL
classifies, in its consolidated financial statements, the payables,
expenses and receipts (if any) incurred by WCNOC as if such items
had been incurred by KCPL. WCNOC has no revenue or income.
Payment for expenses is made from checking accounts owned and
funded by the Owners.
2) WYMO Fuels, Inc. is an inactive corporation. KCPL's Balance
Sheet Account - Investments and Nonutility Property includes
$788,565 representing the remaining investment in WYMO Fuels, Inc.
Such investment represents the tax benefits applicable to the cost
of fixed assets written off for book purposes but not for tax
purposes. This investment is carried on an equity basis and is
considered immaterial for consolidation purposes when compared to
KCPL's $2.8 billion balance sheet.
KANSAS CITY POWER & LIGHT COMPANY
CONSOLIDATED BALANCE SHEETS
December 31 December 31
1993 1992
ASSETS (Thousands)
UTILITY PLANT, at original cost
Electric $ 3,240,384 $ 3,133,059
Less-Accumulated depreciation 1,019,714 948,266
Net utility plant in service 2,220,670 2,184,793
Construction work in progress 67,766 65,965
Nuclear fuel, net of amortization of
$76,722,000 and $78,735,000 29,862 34,210
Total 2,318,298 2,284,968
REGULATORY ASSET - DEFERRED WOLF CREEK COSTS 29,118 39,484
REGULATORY ASSET - RECOVERABLE TAXES 122,000 94,000
INVESTMENTS AND NONUTILITY PROPERTY 28,454 27,570
CURRENT ASSETS
Cash 1,539 128
Special deposit for the retirement of debt 60,118 -
Receivables
Customer accounts receivable 29,320 14,372
Other receivables 19,340 24,043
Fuel inventories, at average cost 14,550 20,625
Materials and supplies, at average cost 44,157 45,263
Prepayments 4,686 4,209
Deferred income taxes 3,648 5,553
Total 177,358 114,193
DEFERRED CHARGES
Regulatory Assets
Settlement of fuel contracts 20,634 25,751
KCC Wolf Creek carrying costs 9,575 12,311
MPSC rate phase-in plan - 7,072
Other 31,899 26,798
Other deferred charges 17,732 14,776
Total 79,840 86,708
Total $ 2,755,068 $ 2,646,923
LIABILITIES
CAPITALIZATION
Common stock-authorized 150,000,000 shares
without par value-61,908,726 shares issued
and outstanding-stated value $ 449,697 $ 449,697
Retained earnings 418,201 405,985
Capital stock premium and expense (1,747)
(1,758)
Common stock equity 866,151 853,924
Cumulative preferred stock 89,000 89,000
Cumulative preferred stock (redeemable) 1,756 1,916
Long-term debt 733,664 788,209
Total 1,690,571 1,733,049
CURRENT LIABILITIES
Notes payable to banks 4,000 -
Commercial paper 25,000 33,000
Current maturities of long-term debt 134,488 26,500
Accounts payable 59,421 77,162
Dividends declared 423 423
Accrued taxes 27,800 19,864
Accrued interest 15,575 12,949
Accrued payroll and vacations 20,127 18,044
Accrued refueling outage costs 7,262 12,600
Other 8,531 7,631
Total 302,627 208,173
DEFERRED CREDITS
Deferred income taxes 627,819 576,222
Deferred investment tax credits 87,185 91,530
Other 46,866 37,949
Total 761,870 705,701
COMMITMENTS AND CONTINGENCIES
Total $ 2,755,068 $ 2,646,923
KANSAS CITY POWER & LIGHT COMPANY
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31
1993 1992 1991
(Thousands)
ELECTRIC OPERATING REVENUES $ 857,450 $ 802,668 $ 825,101
OPERATING EXPENSES
Operation
Fuel 130,117 130,032 132,100
Purchased power 31,403 21,868 22,226
Other 184,633 175,937 162,548
Maintenance 78,550 81,163 80,922
Depreciation 91,110 88,768 86,795
Taxes
Income 69,502 51,691 61,871
General 95,659 92,461 88,525
Amortization of
MPSC rate phase-in plan 7,072 7,072 7,072
Deferred Wolf Creek costs 13,102 13,102 11,734
Total 701,148 662,094 653,793
OPERATING INCOME 156,302 140,574 171,308
OTHER INCOME AND DEDUCTIONS
Allowance for equity funds used during
construction 2,846 1,073 539
Deferred Wolf Creek carrying
costs - - 791
Miscellaneous (2,486) 2,595
(3,829)
Income taxes 1,549 (505) 1,593
Total 1,909 3,163
(906)
INCOME BEFORE INTEREST CHARGES 158,211 143,737 170,402
INTEREST CHARGES
Long-term debt 50,118 54,266 63,057
Short-term notes 750 2,749 3,299
Miscellaneous 4,113 2,173 2,665
Allowance for borrowed funds used during
construction (2,542) (1,785)
(2,512)
Total 52,439 57,403 66,509
YEARLY RESULTS
Net income 105,772 86,334 103,893
Preferred stock dividend requirements 3,153 3,062 6,023
Earnings available for common stock $ 102,619 $ 83,272 $ 97,870
Average number of common shares
outstanding 61,908,726 61,908,726 61,908,726
Earnings per common share $ 1.66 $ 1.35 $ 1.58
Cash dividends per common share $ 1.46 $ 1.43 $ 1.37
CONSOLIDATED STATEMENTS OF RETAINED EARNINGS
Year ended December 31
1993 1992 1991
(in thousands)
Beginning Balance $ 405,985 $ 411,161 $ 399,294
Net Income 105,772 86,334 103,893
511,757 497,495 503,187
Premium on Reacquired Preferred Stock - 233 1,794
Dividends Declared:
Preferred Stock, at required rates 3,169 2,747 5,417
Common Stock - $1.46, $1.43 and $1.37
per share 90,387 88,530 84,815
Ending Balance $ 418,201 $ 405,985 $ 411,161
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
Exhibit C
Not Applicable