ML20066B619
| ML20066B619 | |
| Person / Time | |
|---|---|
| Site: | Arkansas Nuclear  |
| Issue date: | 10/29/1982 |
| From: | Langston N ARKANSAS POWER & LIGHT CO. |
| To: | Saltzman J NRC OFFICE OF STATE PROGRAMS (OSP) |
| References | |
| NUDOCS 8211090055 | |
| Download: ML20066B619 (6) | |
Text
a 303(3
-s ARKANSAS POWER & LIGHT COMPANY POST OFFICE BOX 551 UTTLE ROCK. ARKANSAS 72203 (501) 371-4000 October 29, 1982 Mr. Jerome Saltzman, Asst. Director State and Licensee Relations Office of State Programs United States Nuclear Regulatory Commission Washington, D. C.
20555
Subject:
Price-Anderson Act (Public Law 94-197)
File: 0220, 2-0220
Dear Mr. Saltzman:
Arkancas Power & Light Company has chosen to meet its current guarantee requirements relative to the Price-Anderson Act by alternative 5, an annual financial statement and cash flow projection. Accordingly, enclosed are AP&L's:
- 1) Certified 1981 Annual Report providing financial statements for the most recent year preceeding October 29, 1982.
- 2) September,1982 year-to-date financial statement for the last three quarters preceeding October 29, 1982.
- 3) A one year internal cash flow projection (Statement of Source of 7unds) accompanied by underlying assumptions.
- 4) A narrative statement insuring that retrospective premiums up to $20 million would be available for payment.
Very truly yours, f\\_os.C, T
v jde-Nathan E. Langston Controller NEL/kk Enclosures
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CO211090055 821029 i PDR ADOCK 05000313 1
1 PDR MEMBEFI MICOLE SOUTH UTIUTIEs SYSTEM
ARKANSAS POWER & LIGHT COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS S:ptembsr 30, 1982 u d Deces.bsr 31, 1981 a
L f
1982 i
(Unaudited) 1981 (In Thousands)
ASSETS I
i*
Utility Plant:
Electric........................................
$2,560,950
$2,509,683 4
Natural gas.....................................
36,666 36,190 Construction work in progress...................
352.658 265.682 Tota1.....................................
2,950,274 2,811,555 Less - Accumulated depreciation.................
588.027 532.088 l
Utility planc - net.......................
2.362.247 2.279.467
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Other Property and Investments:
Investment in associated companies, at equity...
'40,145 35,859
}
Other, at cost (less accumulate 1 depreciation...
474 913 Total.....................................
40.619 36.772 c
r h
Current Assets:
j Cash............................................
(792) 7,681 Special deposits................................
'409 6,042 Temporary investments - at cost which approximates market...........................
2,475 2,124 Notes receivable................................
1,240 1,216 -
l, Accounts receivable:
t Customer and other (less allowance for doubtful accounts of (in thousands)
'4
$1,322 in 1982 and $1,396 in 1981)..........
60,657 41.105 Associated companies..........................
11,979 19,106 Deferred fuel cost..............................
27,671 179
//
Fuel inventory - at average cost................
36,483 34,338 l
Materials and supplies - at average cost........
27,381 20,753 i
0ther...........................................
16.263 9.194 1:
Tota1.....................................
183.766 141.738 I
9 Deferred Debits...................................
12.119 16.272 l
T0TAL.........................................
$2,598.751
$2.474,249 CAPITALIZATION AND LIABILITIES i
Capitalization:
Common stock, $12.50 par value, authorized 325,000,000 shares in 1982 and 50,000,000 shares in 1981; issued and outstanding
?!
43,380,196 shares.............................
$ 542,252
$ 542,252 5
Paid-in capital.................................
5,447 4,933 Retained earnings...............................
53.984 43.135 Total conmon shareholder's equity.........
601,683 590,320 f
Preferred stock without sinking fund............
126.890 126,890 Preferred s tock with sinking f und...............
141,386 144,120 Ion g-t e rm d eb t..................................
1.055.323 993.163 Total.....................................
1.925.282 1.854.493
[
Current Liabilities:
Notes payable:
Associated Companies..........................
30,700 Banks...........................................
45,000 56,200 l
Current ly maturing long-term deb t...............
2,707 16,719 Accounts payable:
Associated companies..........................
1,771 10,672 Cus tonier and o t he r............................
80,568 118,696 Customer deposits...............................
5,956 5,771 9
Taxes accrued...................................
43,918 32.373 i
Accumulated deferred income taxes...............
15,863 (4,148)
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Interest accrued................................
31,821 32,840 g
.g Dividends declared..............................
26,447 23,448 Other...........................................
50.100 39,510 Total.....................................
3%.851 332.081 i
Deferred Credits:
Accumulated de fe rred income taxes...............
204,069 192,832 Accumulated deferred investment tax credits.....
84,497 54,494 0ther......................................
43.565 34.511 Tota1.................................
332.131 281.837 Reserves..........................................
6.487 5.838 T0TAL.........................................
$2.598.751
$2.474.249
ARKANSAS POWER & LTCitT COMPANY AND SUBSIDIARIES STATEMENTS OF CONSOLIDATED INCOME For The 'three Months and Nine Months Ended September 30, 1982 and 1981 (Unaudited)
Three Months Nine Months 1982 1981 1982 1981 (In Thousands)
(In Thousands)
Operating Revenues
+
Electric..............................................
$309,637
$314.115
$764,662
$736.437 Natural r.4s........................
6.316, 5.365 38,744 30 d64_
1otal.............................................
315,953 319,480 803,406 267,,23 Operating Expenses:
Opc rat len :
Fuel for electric generation........................
75,761 86,949 202,863 243,209 Pu rc h a w d pow e r......................................
56,108 44,731 133,823 116.3'.6 Gas puerhased for resale............................
4,785 4,108 31,026 23,455-IVferred fuel and other.............................
18,954 29.111 91,216 88.874 Maintenance...........................................
10,784 S,648 29,425 32.021 Depreciation.
21.086 19,964 02,978 57.223 Taxe s ot h e r than in come ta xes.........................
8,142 7,276 23,584 21.186 I n i cine t a x e s..........................................
45.204 41 752 68.013
- 51. D1 t
Total............
240.824 M ',39 642.928 633.345 Operating income........................................
25229 76.941 160.478 133.356 Other incomu:
Allowance for equity funds used during construction........................................
3,134 2.334 8.573 8,879 Mis ce: I: neous income and deductions-net...............
1,741 12,323 5,727
- 18,016 I n c ome t a x es - c r.....................................
1.610 (9.434) 4.438 (6,180)
Tuts 1.............................................
6.485 5.223 18.738 20,715 I
Interest and Other Charges:
Interest on long-term debt............................
27,010 23,358 81,237 65.994 i
other interest - net..................................
3,448 7,444 8,849 17,809 Allowance for borrowed funds used during censtruction - (cr.)................................
(2.621)
(2.879)
(8,117)
(9.009)
Total.............................................
27.837 27.923 81.969 74.794 Net 1ncome..............................................
$ 53.777
$ 54.241
$ 97.247
$ 79.277 a
+
ARKAEAS PO'.JER 5 LICHT COMPANY AND St'3SIDIARIES STATEMEN1S OF Ct!N:GES IN CONSOLIDATED FINANCIAL POSITION For The Nine Mc.ths Ended September 30, 1982 and 1981 (Unaudited) 1982 1981 (In Thousands)
Funds Provided By:
Orcrations:
Net income.......................................
$ 37,247
$ 79,277 Depreciation.............
62,918 57,223 Deferred income taxes and investnene tax c redit adj ustments - net...................
55,602 43.807 Allowance for funds used during construction.....
(16.690) 117.888)'
Total f unds p rovided by operations...........
199.137 162,419 Other:
Allowance for funds used during construction.....
'16,690 17,688 Miscellacecus -
net..............................
20.255 2.740 Total funds provided excluding financing transactions.....................
236.082 193,04_7_
Financing transactions:
Common stock.....................................
55,000 Preferred stock..................................
Firs t mort gage bonds.............................
80,000 75,000 Promissory notes and other long-term debt........
14,305 54,735-Book value o f utility plant sold.................
10.447 105,970 Short-term securities - net......................
19.149 Total funds provided by financing t ransactions.....................
123.901 290.705 Total funds provided.....................
$359.983
$473.752 Funds Applied To:
V Utility plant additions:
Construction expenditures for utility plant......
$145,922
$292.582 Nuclear fuel.....................................
-10,878 (1,536) 0ther............................................
2.962 Total gross additions (includes allowance for funds used during const ruction)........
156.800 294.008 Other:
Dividends declared on preferred stock..............
18,984 19,185 Dividends declared on common stock.................
67,413 61,297 Investment in associated company...................
4.285 4,480 7,
Increase in working capital *.......................
64,406 38,167 Miscellaneous -
Net................................
Total other funds applied....................
155.088 123.129 Financing transactions:
Retirement of promissory notes and other long-te rm debt...
29.052 i
Ret irement o f firs t mo rt gage bends.................
16.309 2,241 Redempt ion of p re f e rred s tock......................
2,734 1,309 Sho rt-t e rm s ec u rit ies - n e t........................
53,065 Total funds applied to financin g t rans actions.....................
48.095 56.615 To t al f unds ap plied......................
$359.983
$473.752
- Working capital does not include short-ters securities, current maturf ies of long-term debt or deferred taxes included in current liabilities. lae 1982 net increase in working capital is primarily due to an increase in deferred fuel cost and a decrease in acccunts payable. The 1981 net increase in working capital is primarily due to increases in cash and accounts and notes receivable.
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ARKANSAS POWER & LfGHT COMPANY.
STATEMENT OF SOURCE OF FUNDS FOR LAST THREE MONTHS 1982 & FIRST NINE MONTHS 1983 ITEMS FULL-YEAR In Thousands of Collars FORECAST TOTAL Source of Funds:
From Operations:
Net Income
$ 125,307 Depreciation 92,137 Deferred Inccme Taxes & Investment Tax Credit Adjustment - Net 71,282 Allowance for Fund:s Used During Construction (23,683)
Total 265,043 Dividends Declared Prefe'rred Stock (25,160)
Common Stock (88,400)
Total
~Tn3,580)
Funds Retained in Business j151,463 From (Increase) Decrease'in Working Capital (Excluding Short-Term Securities)
(16,689)
Investment in Associated Companies (14,190)
{
i Miscellaneous - Net 17,649 (13,230)
Total - Other Funds Before Financing 138,233 From Sale of Properties 32,981 From Issuance (Retirement) of Securities:
115,000 t
Common Stock (991) i Preferred Stock First Mortga9e Bonds 148,898 Install. Purch. Cont. (Poll. Cent./Ind. Dev.)
Temporary Cash Investments I
Municipal Bonds Receivable t
Short-Term Securities - Net (64,236)
/
L Total 231,652 f
L Total Funds S 369.885
/
Construction Expenditures
$ 346,793
/
46,775 Nuclear Fuel Less: Allowance for Funds (23,683)
Net Construction Expenditures S369.88{
'!,05 l
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t NARRATIVE STATDIENT In the event of a nuclear incident, Arkansas Power & Light Company will meet its guarantee requirements under the Price-Anderson Act by borrowing short-term on its available line of credit and/or reducing its 1983 construction expenditures of $337.8 million by twenty million dollars.
Specifically, AP&L would curtail construction of Independence 815 MS S.E.S.
Unit 2 on which 18.3 million (excluding AFUDC) is scheduled to be spent in 1983, other production projects on which 118.2 million (excluding AFUDC)-
is scheduled to be spent in 1983, and transmission projects - lines and substations - on which 105.5 million (excluding AFUDC) is scheduled to be spent in 1983.
i' l
s Don W. Myers, Di ector l
Finance & Accounting Department l
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