ML12130A260
| ML12130A260 | |
| Person / Time | |
|---|---|
| Site: | Wolf Creek  |
| Issue date: | 05/01/2012 |
| From: | Stull A Wolf Creek |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| CO 12-0001 | |
| Download: ML12130A260 (11) | |
Text
W9LF CREEK NUCLEAR OPERATING CORPORATION Annette F. Stull Vice President and Chief Financial Officer May 1, 2012 CO 12-0001 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, D.C. 20555
Subject:
Docket No. 50-482: Guarantee of Payment of Deferred Premiums, 10 CFR 140.21 Gentlemen:
Pursuant to the requirements of 10 CFR 140.21, each operating reactor licensee is required to maintain financial protection through guarantees of payment of deferred premiums. The owners of Wolf Creek Generating Station (WCGS) are providing the enclosed documentation of their ability to pay deferred premiums in the amount of seventeen million five hundred thousand dollars, as determined by 10 CFR 140.11(a)(4).
Kansas Gas and Electric Company (KGE), a wholly-owned subsidiary of Westar Energy, Inc.,
Kansas City Power & Light Company (KCPL), a wholly-owned subsidiary of Great Plains Energy Incorporated, and Kansas Electric Power Cooperative, Inc. (KEPCo), have each provided audited Consolidated Statements of Cash Flows in order to demonstrate sufficient funds are available to meet their share of the deferred premiums.
If you have any questions concerning this matter, please contact me at (620) 364-4004, or Mr.
Gautam Sen at (620) 364-4175.
Sincerely, Annette F. Stull AFS/rlt Enclosure I Westar Energy Consolidated Statements of Cash Flows II Kansas City Power & Light Company Consolidated Statements of Cash Flows III Kansas Electric Power Cooperative, Inc. Statement of Cash Flows cc: E. E. Collins (NRC) w/e J. R. Hall (NRC), w/e N. F. O'Keefe (NRC), w/e Senior Resident Inspector (NRC), w/e P.O. Box 411 / Burlington, KS 66839 / Phone: (620) 364-8831 An Equal Opportunity Employer MIF/HCNET
Enclosure I to CO 12-0001 Westar Energy Consolidated Statements of Cash Flows
SV~estar Er gy::
April 16, 2012 Mr. Todd N. Laflin Wolf Creek Nuclear Operating Corporation PO Box 411 Burlington, KS 66839
Dear Todd:
Pursuant to the requirements of 10 CFR 140.21, we are providing the attached audited 2011 Consolidated Statements of Cash Flows, with independent auditor's opinion, for Kansas Gas & Electric. Tihe statement is provided to assess Kansas. Gas & Electric's ability to make payment of its share of deferred premiums in an amount of $8.23 million.
Sincerely, Lee Wagesy Vice President, Controller Westar Energy, Inc.
attachment 818 S Kansas Ave/PO Box 889/Topeka, Kansas 66601-0889
To the Boa**rd oi O.f+.. +a+ .,
KmWaa On ad Ekcfit, Company Topeka, Ka=as W vevadit thu acompiwng conolidaed balbme obects of Kawau (ls asd mwcticompany nad subsidiaries (the "Corpmy"), a wolly-owned Mubsidiary of Weswr inra,.Inc. as of Damn 31.2011 and 2010, and h rlf*ted consofidatod s aNt oflOconMO, chage fi equity, nd cash flows for the yas then ende.
These financial statemens am thc meaoaeibility offth Compay's managmat Our vspmWibility is to express an opinion on th"s finanial seateanl based on ow mndlt.
we conducte Waudits iNA acord with the SgMn Y WtcPd auditi ItIa generally accpted in th Unimt State. of Amwei. Those uadambr eir tmt we pim ad perdbrm the udit to obti rasoable ssuram m about whedt the fmt siat staemco w free ofomtarial n. Au niss auditincludos coudetaStof intrn controt ovqr n reprwinm as a basis for dmeigiM audit poedares that ae Wpr iW in db ciwmac4%
but not fbr the puipose of expressing maOpinion on h e09Civen ofthe COmMny's WNeWra conR over fiancial reporting. Aconringly, we expres no such opinion. An audit also inludes xMinag, an a tet basis, evidkM suppmoing the amounts and disclosures in *te "mncidal sututem"Is, assessing dh 00ceMti pricis uMW anid significant estiomte made by management, as wedl as evaluiatg ta overal fitsWl satement p!tseaeatiam We beliave that our audits provide a reasonAble basis for our opkdioz.
Inour opinon suh consolidat A cial statunt presft (*irly. in all maeil r do B tim position of Kansas Gas *d Eloic C=mpny ad subsidiaries 4t Damober 31,2011 and 2010, tohe results of ftheir opelaio and thir cash flows for the years then ende in canfomity with couwting p iples genmAlly accepted in the United States of Anmrica As discs inNote 1S to tlw consolidated finacial stemes, d Com ny*aioptd a now accounting landard with rspeot to ft consofidation of varMle interest eantles effective Januay 1,2010.
/at Deloitte & Touche LLP Kanmsa city, Missouri Felmuday 23, 2012
":h~iscun "tso" 06MlWN Ibnapq of Kam"ca 06 Ehtvis Canaps I
sANsA GAS ANR.Wt WMPANY CO*SOLmA?0STA~tgN1U tLowows CS Year Ended Decemb M 31 2911 2010 CASH FLOWS FROM (USE IN) OP*TRANO AClIvrIES:
Not incoif o.....o.. ......... .........
........ ......... , o , * . ..* ,,...... .. ........
. o * . o.
S 53,163 S 52.701 Adjusinwut to econ*t nad nomM to nd cash provided by opptng ectivite Derci o and amortitaion ....... ............. ............... .................... ................... .... 131,740 128,724 Amortizdoi ofnue aMrW........ ............................ .............................. 21,151 2SX69 Am~ortistion of def**md "Val" gain frotem a-ubu ....... ... b.................................. (5.495) (5,495)
Amailutiou of cm** wned lif imcn ................... 18,400 16.657 Net detbtu4 Income tandcatfs ........................ . .................................... 11.752 23,766 Allowamw (bra *y fAinds used durinda n...................................ton .................... (2,00) (1,355)
CMS Aim intsm vabl .........buml nwwkingcapital ...... ............... ..... ..... ........ ...................... ..... . (4.980) (1115)
Rdeiava w sand &Vpp~ ......... ................................................ .............. ... .. (toa) (1.663) hopaidel ft and od ........ ................... ... .............. ............................... .... 19,0535 Ac ou p t y .e ...n ...... ...
..... ........... 9.u3* (3,271) dMmr m t liabilite h..............
............... . ........ .. ................................................ (K4405) (73*701)
Chanim inW ier 0"Mm ........ ...................... . ....... . ........................ ... ......... ...... I........... (1o.612) 2211 (6.788)
Chmags inod labilt ................................. ............ ... ... .. . ...... . .....................
C01h FlowM fM OPmtnS A"dv*IU ...... ........... ..... ... .......................... .......... . -179312 CASH FLOWS MROM (USED IN)NVESTING AC1IMItS:
Aiitiims to ppty, plea and equm t .................................................................. (350,625) (203.545)
Purbaso of se iti indb h tOe nucle deamimlnioning trast AM ...................................... (47.694) (190.687)
Sale Ofsvutes wdth the m etw commisiing Mint fond ................................ 45.495 189.939 n o e..........e. ..... . ............................... ........................ (18,952) (18.84)
Proce*es from invausmn t inco, oiM ............................. ...s................... 249 1,073 Ad an topare t................ .... ... I.............. -... .. :............ .................... I..... . .......... I......... 172,956 49.660 Other v tivite ...... Iv.....t........lI.................................................................. ...............
Cub FMmO used In nveing Activit ... ............................. .................
CASH FLOWS FROM (USED IN)FR4ANCTNO AMrlMflES:
R fr, m oMuof oag-ern deb ....... ................... ..................... ...... ............ .............. ... ............ (25) (120)
Red uns of tong-m dbt of vad" in enity ............ .............................................. (18,079) (17,036) sonvowi s fim palem ............... ............ I............................................ ....... .......... ....... ....... 49OM Borrowings aping Cash mWander value ofCowpora wod Mift in . ..... 67A52 74.134 Rpayment of birowin apain cash sumder value of coporte.wned life hnomce........ (240) (105s)
Dlvldetda to parsen co n...................... ....... (6-3,50 Cash Foi furn (usd in)Financing Activiti ................................................... r"~77)
NET INCREASE INCASH AND CASH EQUIVALETS .. ......... ............... ........................
CASH AND CASH EQUIVALENTS:
Beginning of paw od......................... ......... ...... I............................. . .... ........
P ii.4 n.. . .. . .. .. . .. . .. .. . .. .. . .. . .. .. . .. .
SUPPLEMENTAL DISC.SUPMIS OF CASH FLOW IPORMATIDN:
CASH PAID FOR:
Intaret = ftnanciog civities, nat omount cspltalizd . . ..................... S 56A6M6 S 57776 Intam on financing ctivities of variable intemt entity ..... ................. IS,043 16,005 NON-CASH INVESTINo TRANSACTIONS:
Pnperty. plant and eqpment edditiona .......................................... 72,0"0 30.071 Propmy, phlt and eqWpnt affitiom of variable interest entity. ...................... - 233,199 NONCASH FINANCING TRANSACTMONS:
Debt of variable intfest entity ................................................... - 283,429 The accompanying notes are an intral part of theOe consolidated financial statenents.
Tris &uMMucoaluus 0o0fmdd al Wsat of Kso Go 04 Ekeb* Coftpr 4
Enclosure IIto CO 12-0001 Kansas City Power & Light Company Consolidated Statements of Cash Flows
April 18, 2012 Mr. Todd N. Laflin Wolf Creek Nuclear Operating Corporation PO Box 411 Burlington, KS 66839
Dear Todd:
Pursuant to the requirements of 10 CFR 140.21(e), Kansas City Power & Light Company, is providing the attached audited Consolidated Statements of Cash Flows as evidence of the ability to make payment of its share of deferred premiums in an amount of $8.23 million.
The undersigned certifies that the foregoing memorandum with respect to Kansas City Power & Light Company's cash flow for the year 2011 is true and correct to the best of their knowledge and belief.
Sincerely, Loni Wright Vice Presidentand Controller attachment KCP&L P.O. Box 418679 Kansas City, MO 64141-9679 1-888-471-5275 toll-free www.kcpl.com
KANSAS CITY POWER & LIGHT COMPANY Consolidated Statements of Cash Flows Year Ended December 31 2011 Cash Flows from Operating Activities (millions)
Net income $ 135.5 Adjustments to reconcile income to net cash from operating activities:
Depreciation and amortization 193.1 Amortization of:
Nuclear fuel 21.4 Other 29.5 Deferred income taxes, net 80.6 Investment tax credit amortization (1.5)
Other operating activities (Note 2) (118.3)
Net cash from operating activities 340.3 Cash Flows from Investing Activities Utility capital expenditures (336.5)
Allowance for borrowed funds used during construction (2.9).
Purchases of nuclear decommissioning trust investments (18.5)
Proceeds from nuclear decommissioning trust investments 15.1 Net money pool lending 12.1-Other investing activities (9.7)
Net cash from investing activities (340.4)
Cash Flows from Financing Activities Issuance of long-term debt 397.4 Repayment of long-term debt (263.1)
Net change in short-term borrowings (36.5)
Net change in collateralized short-term borrowings Net money pool borrowings 6.7 Dividends paid to Great Plains Energy (100.0)
Equity contribution from Great Plains Energy Issuance fees (6.1)
Net cash from financing activities (1.6)
Net Change in Cash and Cash Equivalents (1.7)
Cash and Cash Equivalents at Beginning of Year 3.6 Cash and Cash Equivalents at End of Year $ 1.9
Enclosure III to CO 12-0001 Kansas Electric Power Cooperative, Inc. Statement of Cash Flows
Kansas Electric Power Cooperative, Inc.
April 16, 2012 Mr. Todd N. Laflin Wolf Creek Nuclear Operating Corporation P.O. Box 411 Burlington, KS 66839
Dear Todd:
Pursuant to the requirements of 10 CFR 140.21(e), Kansas Electric Power Cooperative, Inc. is providing the attached audited Statement of Cash Flows as evidence of the ability to make payment of its share of deferred premiums in an amount of $1.5 million.
The undersigned certifies that the foregoing memorandum with respect to Kansas Electric Power Cooperative, Inc.'s. Cash flow for the year 2011 is true and correct to the best of their knowledge and belief.
Sincerely yours, Coleen M. Wells VP and CFO Enclosure (1)
Phone: 785.273.7010 Fax: 785.271.4888 www.kepco.org P.O. Box 4877 Topeka, KS 66604-0877 600 Corporate View Topeka, KS 66615 A Tooch,ý, EneWgCoope-w ISLA
KANSAS ELECTRIC POWER COOPERATIVE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS December 31, 2011 2010 Cash Flow From Operating Activities Net margin $ 10,862,736 $ 7,646,619 Adjustments to reconcile net margin to net cash flows from operating activities Depreciation and amortization 5,895,848 3,933,791 Decommissioning 47,317 1,726,544 Amortization of nuclear fuel 2,604,250 3,072,155 Amortization of deferred charges 4,298,277 4,354,224 Amortization or deferred incremental outage costs 7,965,177 3,946,016 Amortization of debt issuance costs 95,243 102,686 Changes in Member accounts receivable 4,542,945 (653,666)
Materials and supplies (749,197) (291,350)
Other assets and prepaid expense (32,946) 135,797 Accounts payable (754,741) 1,107,100 Payroll and payroll-related liabilities 3,054 33,679 Accrued property tax 6,482 12,299 Accrued interest payable (107,769) 431,717 Accrued income taxes (2,182) 1,937 Other long-term liabilities (1,038,178) 426,336 Net cash flows from operating activities 33,636,316 25,985,884 Cash Flows From Investing Activities Additions to electrical plant (5,684,518) (18,792,039)
Additions to nuclear fuel (2,330,827) (4,469,736)
Additions to deferred incremental outage costs (13,933,210) (982,345)
Investments in decommissioning fund assets (572,960) (1,791,141)
Investments in National Rural Utilities Cooperative Finance Corporation (195,045) 1,381,901 Investments in bond reserve assets (9,279) 5,674 Proceeds from the sale of property 20,504 Net cash flows from investing activities (22,705,335) (24,647,686)
Cash Flows From Financing Activities (14,775,066)
Principal payments on long-term debt (13,709,763)
Proceeds from issuance of long-term debt 8,485,286 16,602,177 Net cash flows from financing activities (6,289,780) 2,892,414 Net increase/(decrease) in cash and cash equivalents 4,641,201 4,230,612 Cash and Cash Equivalents, Beginning of Year 4,349,243 118,631 Cash and Cash Equivalents, End of Year $ 8,990,444 $ 4,349,243 See Notes to the Consolidated Financial Statements 6