ML20035C617

Informs That 930212 Rept Issued Which Audited Statement of GE Financial Position & Consolidated Affilates as of 921231 & Re Statements of Earnings & Cash Flows for Yr End

ML20035C617
Person / Time
Site:	07002872
Issue date:	02/26/1993
From:	Marwick P KPMG PEAT MARWICK (FORMERLY PEAT, MARWICK, MITCHELL
To:	NRC OFFICE OF INSPECTION & ENFORCEMENT (IE REGION III)
Shared Package
ML20035C593	List: ML20035C592 ML20035C617
References
NUDOCS 9304080193
Download: ML20035C617 (6)

Text

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o KPMG Peat Marwick Certified Public Accountants 1500 National Cny Center Telephone 216 696 9100 Telefax 216 696 7792 1900 East Ninth Street Cleveland. OH 44M4-3495 February 26,1993 U.S. Nuclear Regulatory Commission RegionIII 799 Roosevelt Road Glen Blyn,IL 60137

Dear Sirs,

We have audited the statement of financial position of General Electric Company and consolidated affihates (Company) as of December 31,1992 and the related statements of camings and cash flows for the year then ended, and have issued our report thereon dated Febntary 12,1993.

The Company has prepared documents to demonstrate its financial responsibility under the Nuclear Regulatory Commission's (NRC) financial assurance regulations,10 CFR Pan 70. It is understood that this letter is fumished to assist General Electric - Reuter Stokes, license numbers SNM-1826 and 34-18156-01, in complying with these regulations and should not be used for any other purposes, in connection with Appendix I attached, we have:

1. Recalculated the amount on line 5 of Appendix I, by reference to " total assets,"" total liabilities," and " intangible assets" as disclosed in the conso1Wed financial statements of ~

the Company, and found such amount to be in excess of $15 billion;

2. Agreed the amount on line 6 of Appendix I to " geographic segments information" as disclosed in the notes to the consolidated financial statements of the Company;

3. Agreed the disclosure on lines 7 and 8 of Appendix I by reference to line 5 of Appendix I, however, we have not performed any procedures with regard to the adequacy ofline 1 of a-Appendix I;

4. Agreed the disclosure on line 9 of Appendix I by recalculating the pucminge of assets held in the U.S. by reference to the " geographic segments information" as disclosed in the notes to the consolidated finan+1 statements of the Company; and

5. Agreed the disclosure on line 10 of Appendix I by reference to line 6 of Appendix 1, however, we have not performed any procedures with regard to the adequacy ofline 1 of Appendix 1.

Because the procedures in 1 through 5 above do not constitute an audit made in accordance with generally accepted auditing standards, we express no opinion on the epacWA at: counts or items refened to above. In connection with the procedures refened to above, no matters came to our attention that caused us to believe that the specified information should be adjusted. Had we performed additional procedures, maners might have come to our attention that would have been reponed to you. This repon relates only to the accounts or items specified above and does not extend to any consolidated financial staternents of the Company taken as'a whole.

Very tmly yours, y P M (,-

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• 0 0 1 9* 6 93o4o8o193 93o322 PDR ADOCK 07002872 C-PDR g

Appendix I General Electric Comnany Statement of Financial Position as of December 31. 1992 l

Financial Test: Alternative II 1.

Decommissioning cost estimate for facility Special Nuclear Not to exceed Material License 1826 and License number 34-18156-01 5753,875 2.

Current bond rating as issued by Standard and Poor's and Moody's AAA/Aaa 3.

Date ofissuance of most recent bond September 25,1992 4.

Date of maturity of above bond September 25,1997 5.*

Tangible net worth at December 31,1992 In excess of

$15 billion l

6.*

Total assets in the United States (required only ifless than l

90 percent of fum's assets are located in the United States)

$169 billion l

1 Yes

_N_ o

]

7.

Isline 5 at least $10 million?

X 8.

Isline 5 atleast 6 times line I?

X l

i 9.

Are at least 90 percent of fum's assets located in the United I

States? If not, completeline 10 X

)

i l

10.

Is line 6 at least 6 timesline 1?

X i

Denotes figures derived from consolidated fmancial statements.

comnot.ro 0 0 L 9 6 1

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KPMG Peat Marwick Certified Public Accountants 1500 National Crty Center Telephone 216 696 9100 Telefax 216 696 7792 1900 East Ninth Street Cleveland, OH 44114 3495 Febntary 26,1993 U.S. Nuclear Regulatory Commission RegionIII 799 Roosevelt Road GlenEllyn,IL 60137

Dear Sirs,

We have audited the statement of financial position of General Electric Company and consolidated affiliates (Company) as of December 31,1992 and the related statements of eamings and cash flows for the year then ended, and have issued our repon thereon dated February 12,1993.

The Company has prepared documents to demonstrate its financial responsibility under the Nuclear Regulatory Commission's (NRC) financial assurance regulations,10 CFR Pan 70. It is understood that this letter is furnished to assist General Electric - Reuter Stokes, license numbers SNM-1826 and 34-18156-01, in complying with these regulations and should not be used for any other purposes.

In connection with Appendix I attr.ched, we have:

1. Recalculated the amount on line 5 of Appendix I, by reference to " total assets,"" total liabilities," and " intangible assets" as disclosed in the consolidatM financial surments of the Company, and found such amount to be in excess of $15 billion;

2. Agreed the amount on line 6 of Appendix I to " geographic segments infonnation" as disclosed in the notes to the consolidated financial statements of the Company;

3. Agreed the disclosure on lines 7 and 8 of Appendix I by reference to line 5 of Appendix I, however, we have not performed any procedures with regard to the adequacy of line 1 of i

Appendix I;

4. Agreed the disclosure on line 9 of Appendix I by recalculating the percentage of assets held in the U.S. by reference to the " geographic segments infonnation" as disclosed in the notes to the consolidated financial cemems of the Company; and

5. Agreed the disclosure on line 10 of Appendix I by reference to lire 6 of Appendix I, however, we have not performed any procedures with regard to the adequacy ofline 1 of Appendix I.

Because the procedures in 1 through 5 at ve do not constitute an audit made in accordance with generally accepted auditing standards, we express no opinion on the specified accounts or itents refened to above. In connection with the procedures refened to above, no matters came to our attention that caused us to believe that the specified infonnation should be adjusted. Had we perfonned additional pmcedures, matters might have come to our attention that would have been reported to you. 'Ihis report relates only to the accounts or items specified above and does not extend to any consolidated financial staternents of the Company taken as a whole.

Very truly yours.

Wp bt A1ML

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AppendixI General Electric Comnany I

Statement of Financial Position as of December 31. 1992 Financial Test: Alternative II _

j l

1.

Decommissioning cost estimate for facility Special Nuclear Not to exceed

.i Material License 1826 and License number 34-18156 $753,875 -

j l

2.

Current bond rating as issued by Standard and Poor's and Moody's AAA/Aaa 3.

Date ofissuance of most recent bond September 25,1992 j

l 4.

Date of maturity of above bond September 25,1997 i

5.*

Tangible net worth at December 31,1992 In excess of l

$15 billion l

6.*

Total assets in the United States (required only ifless than a

90 percent of fmn's assets are located in the United States)

$169 billion Xes

'Eo

~

7.

~ Isline 5 at least $10 million?

X f

[

8.

Isline 5 at feast 6 timesline 1?

X.

]

r 9.

Are at least 90 percent of firm's assets located in the United States? If not, completeline 10 X

10.

Isline 6 atleast 6 timesline I?

X' j

l Denotes figures derived from consolidated fmancial statements.

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KPMG Peat Marwick-1 e

Certified Public Accountants i

1500 National City Center Telephone 216 696 9100 Telefax 216 696 7792 1900 East Ninth Street

\\

Cleveland. OH 44114 3495 q

February 26,1993 1

U.S. Nuclear Regulatory Commission Region III 799 Roosevelt Road

<Y GlenBlyn,IL 60137

Dear Sirs,

We have audited the statement of financial position of General Bectric Company and consolidated affiliates (Company) as of December 31,1992 and the related statements of camings and cash L flows for the year then ended, and have issued our report thereon dated February 12,1993.

The Company has prepared documents to demonstrate its financial responsibility under the Nuclear Regulatory Commission's (NRC) financial assurance regulations,10 CFR Part 70. It is l

understood that this letter is famished to assist General Electric - Reuter Stokes, license numbers SNM-1826 and 34-18156-01, in complying with these regulations and should not be used for any.

other purposes.

In connection with Appendix I attached, we have:

j

1. Recalculated the amount on line 5 of Appendix I, by reference to " total assets,"" total liabilities," and " intangible assets" as disclosed in the consolidated financial statements of ~

the Company, and found such amount to be in excess of $15 billion; -

s

2. Agreed the amount on line 6 of Appendix I to " geographic segments infonnation" as disclosed in the notes to the consolidated financial statements of the Company;

3. Agreed the disclosure on lines 7 and 8 of Appendix I by reference to line 5 of Appendix I, however, we have not performed any procedures with regard to the adequacy ofline 1 of-Appendix 1;

.-+

4. Agreed the disclosure on line 9 of Appendix I by recalculating the percentage of assets held j

in the U.S. by reference to the " geographic segments information" as disclosed in the notes to the consolidated financial statements of the Company; and I

5. Agreed the disclosure on line 10 of Appendix I by reference to line 6 of Appendix I,.

however, we have not performed any procedures with regard to the adequacy ofline 1 of Appendix L i

Because the procedures in 1 through 5 above do not constitute an audit made in accordance with ~

generally accepted auditing standards, we express no opinion on the specified accounts or items referred to above. In connection with the procedures referred to above, no matters came to our attention that caused us to believe that the specified information should be ~ adjusted. Had we perfonned additional procedures, maners might have come to our attention that would have been reported to you. This report relates only to the accounts or items specified above and does not extend to any consolidated financial statements of the Company taken as a v/nole.

Very truly yours, EPMG bt Adowk4 mammLNo. 0 019.6-P t 4 %

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AppendixI f

General Electric Company Statement of Financial Position as of December 31. 1992 Financial Test: Alternative II i

1.

Decommissioning cost estimate for facility Special Nuclear Not to exceed i

Material License 1826 and License number 34-18156-01

$753,875 2.

Current bond rating as issued by Standard and Poor's and Moody's AAA/Aaa 3.

Date ofissuance of most recent bond September 25,1992 4.

Date of maturity of above bond September 25,1997 5.*

Tangible net wonh at December 31,1992 In excess of

$15 billion 6.*

Total assets in the United States (required only ifless than 90 percent of firm's assets are located in the United States)

$169 billion Yes tLo 7.

Is line 5 at least $10 million?

X 8.

Is line 5 at least 6 tiraesline I?

X t

9.

Are at least 90 percent of fum's assets located in the United i

States? If not, complete line 10 X

10.

Is line 6 at least 6 timesline I?

X Denotes figures derived from consolidated fmancial statements.

I seemtor.No, 001116

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