ML20050B211
| ML20050B211 | |
| Person / Time | |
|---|---|
| Site: | Yankee Rowe |
| Issue date: | 03/30/1982 |
| From: | Canner I YANKEE ATOMIC ELECTRIC CO. |
| To: | Harold Denton Office of Nuclear Reactor Regulation |
| Shared Package | |
| ML20050B212 | List: |
| References | |
| NUDOCS 8204050103 | |
| Download: ML20050B211 (9) | |
Text
3 YANKEYATOMIC ELECTRIC C0.JPANY ge..
I 1671 Worcester Road, framingham, Massachusetts 01701
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March 30,1982 Mr. Harold Denton U.S. Nuclear Regulatory Commission Office of Nuclear Reactor Regulation Washington,D.C.
Reference:
License No. DPR-3 (Docket 50-29) 1981 Proof of Financial Protection 1981 Certification of Financial Statenents Mr. Denton:
In accordance witis Yankee Atomic Electric Company's facilities License No. DPR-3, we enclose forty (40) copies of our annual certified financial statenents for the three year period ending Deconber 31,1981 and a summary of financial protection in effect as of that date, pursuant to the requirements of 10 CFR Section 140.15 and Section 50.71.
Please acknowledge receipt of these documents by signing and returning the enclosed postcard.
Very truly yours.
YANKEE ATOMIC
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Enclosures:
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Yaruee Atomic E ectric Company 9-P' uD
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YAf1KEE ATOMIC ELECTRIC COMPAtlY Facilities License fio.DPR-3 1961 Financial Statements and Summary of Financial Protection Pursuant to Section 170 of the Atomic Energy Act G
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i YANKEE ATOMIC ELECTRIC COMPANY 1
Facilities License No. DPR-3 l
1981 Financial State.nents i
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Summary of Financial Protection Pursuant to Section 170 of the Atomic Energy Act i
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t I hereby certify that I am Treasurer of the above-named Company and that the l
enclosed Insurance and Financial Statements for the period ended December 31, 1981 and 1980 are, in my opinion, correct.
/ AM A.' F.~.. Sou cy M
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I Summary of the Amount and Type of Financial Protection in Effect at December 31, 1981 Pursuant-to Section 170 of the Atomic Energy Act As of December 31, 1981, Yankee Atomic Electric Company maintained financial protection in the amount of $160,000,000 under the following policies issued by the American Nuclear Insurers and the Mutual Atomic Energy Liability Underwriters: ANI Policy NF-76 and MAELU Policy MF-26.
Copies of the foregoing policies and endorsements to date have been filed with the Commission.
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YANKEE ATOMIC ELECTRIC COMPANY STATEMENT OF 'NCOME AND RETAINED EARNINGS YEAR ENDED DECEMBER 31 1981 1980 Operating revenues:
Electric sales
$46,724,472
$34,813,205 Engineering services to others 18,897,489 17,882,665 Total operating revenues 65,621,961 52,695,870 Operating expenses:
Fuel 6,172,270 2,563,510 Opera tions 10,859,557 6,924,654 Engineering 27,161,899 25,499,539 Main tenance 3,530,701 8,590,235 Decommi ss ioning 2,419,350 De pre cia tion 2,886,955 2,551,565 Taxes, other than federal income 2,107,747 1,302,386 Federal income taxes 4,873,775 1,082,591 Total operating expenses 60,012,254 48,514,480 Opera ting income 5,609,707 4,181,390 Other income-net 93,503 (26,591)
Opera ting and other income 5,703,210 4,154,799 In teres t:
Interest on short-term debt 1,913,414 1,778,550 Interest on long-term debt 975,040 889,581 Other 1,072 1,081 Allowance for borrowed f unds used during cons truction - credit (276,420)
(185,999)
Total interest 2,613,106 2,483,213 Net income
$3.090.104
$1.671.586 Retained earnings:
Retained earnings at beginning of year
$4,929,212
$5,136,776 Net income 3,090,104 1,671,586 8,019,316 6,808,362 Dividends declared 2,454,400 1,879,150 Retained earnings at end of year
$5.564.916
$4.929.212 Per share data:
Earnings per share
$20.14
$10.90 Dividends per share
$16.00
$12.25
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BALANCE SHEET DECEMBER 31, 1981 ASSETS CAPITALIZATION AND LIABILITIES I
J Electric plant
$63,244,304 Capitalization:
Less accumulated provision Common stock, par value $100 per for deprecia tion 43,556,729 share; 153,400 shares authorized l
and outstanding
$15,340,000 Net electric plant 19,687,575 Retained earnings 5,564,916 Long-term debt 11,100,000 Nuclear fuel - at amortized cost 20,989,306 32,004,916 Net utility plant 40,676,881 Current liabilities:
Nonutility property-net 770,059 4
Long-term debt due within one year 900,000 Current assets:
Short-term debt 8,000,000 Accounts payable 4,980,660 1
Cash 1,130,475 Accrued federal income taxes 1,656,131 Accounts receivable 8,890,979 Accrued interest 463,592 Ma terials and supplies 956,890 l
Pre payments 604,746 Total current liabilities 16,000,383 i
Total current assets 11,583,090 Deferred federal income taxes 3,682,905 Unamortized investment tax credits 1,341,826
$53.030.030
$53.030.030 1
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One Financial Plaza Hartford, Connecticut 06103 Tcrephone 203 278-1400 Tcles 99308 January 12, 1982 Mr. Jerome Saltzman, Chief Office of Antitrust & Indemnity Nuclear Reactor Regulation Nuclear Regulatory Commission Washington, DC 20555 W.5.] ?.5S X lEbINNN&LW ASCNY% fit C17[5@[-]lllll
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Yankee Atomic Electric Company MAELU Policy No. MF-26 i
Endorsement No. 81
Dear Mr. Saltzman:
On behalf of Yankee Atomic Electric Company, we enclose eight certified copies of the captioned endorsement to MAELU Policy No. MF-26.
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enclosures (8) cc:
J. X. Probolus - M&M Boston
' 23-ennan Marsh & Mclennan, incorporated 1 Financial Plaza R
g Hartford, Connecticut 06101 Telephone 203 278-1400 Telex 99308 fE@ 16 lbb2 N.E.P.S.C0.
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INSURANCE DEPT.
f February 5, 1982 Mr. Jerome Saltzman, Chief Office of Antitrust & Indemnity Nuclear Reactor Regulation Nuclear Regulatory Commission Washington, DC 20555 Re:
Yankee Atomic Electric Company ANI Policy No. NF-76 Endorsement No. 99
Dear Mr. Saltzman:
On behalf of Yankee Atomic Electric Company, we enclose eight certified copies of the captione dorsement to ANI Policy No. NF-76.
Yours very truly,
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R. N. York - Yankee Atomic J. X. Probolus - M&M Boston I
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