ML20082K213
| ML20082K213 | |
| Person / Time | |
|---|---|
| Site: | Wolf Creek  |
| Issue date: | 04/14/1995 |
| From: | Carns N WOLF CREEK NUCLEAR OPERATING CORP. |
| To: | Russell W Office of Nuclear Reactor Regulation |
| References | |
| WM-95-0072, WM-95-72, NUDOCS 9504190156 | |
| Download: ML20082K213 (8) | |
Text
e 4
W$LF CREEK NUCLEAR OPERATING CORPORATION 4
Neil S. " Buzz" Carns Chairman, President and April 14, 1995 cn.es Execut... omcer WM 95-0072 W. T. Russell, Director j
Office of Nuclear Reactor Regulation l
U. S. Nuclear Regulatory Commission Washington, D. C.
20555
Subject:
Docket No:
50-482: Guarantee of Payment of Deferred Premiums, 10 CFR 140.21
Dear Mr. Russell:
Pursuant to the requirements of 10 CFR 140.21, each operating reactor licensee is required to maintain financial protection thrc. ja guarantees of payment of deferred premiums.
The Owners of Wolf Creek Generating Station are providing the attached documentation of their ability to pay deferred premiums in the amount of ten million
- dollars, as required by federal regulation 10 CFR 140.21 (e).
Western Resources, Incorporated, including its wholly-owned subsidiary Kansas Gas and Electric Company, Kansas City Power & Light Company, and Kansas Electric Power Cooperative, Incorporated have provided an audited 1994 Consolidated Statement 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 (316) 364-8831 extension 4000 or Mr. Richard D.
Flannigan at extension 4500.
Very truly yours, W
Neil S. Carns NSC/jad Attachments cc:
L. J. Callan (NRC), w/a D. F. Kirsch (NRC), w/a J.
F. Ringwald (NRC), w/a J.
C. Stone (NRC), w/a Document Control Desk (NRC), w/a I
9504190156 950414 PDR ADOCK 05000482 I
,3 9' PO Box 411/ Burhngton. KS 66839 / Phone (316) 364-8831 An Equal Opponunity Employer MJ/HC/ VET
0 IIN western Resourtes 818 Kansas Avenue Jerry D. Courington phone [9 Controller March 20,1995 Mr. Mike Gayoso Wolf Creek Nuclear Operating Corporation PO Box 411 Burlington, KS 66839
Dear Mike:
Pursuant to the requirements of 10 CFR 140.21(e), Western Resources, Inc., including its wholly-owned subsidiary Kansas Gas and Electric Company since March 31,1992, is providing the attached audited Consolidated Statements of Cash Flows of its ability to make payment of its share of deferred premiums in an amount of $4.7 million.
The undersigned certifies that the foregoing memorandum with respect to Western Resources, Inc.'s cash flow for the year 1994 is true and correct to the best of his knowledge and belief.
/
I Jer DICouring)bn troller KPL
- Gas Service
- KOE 1
veer ended Decemoer 31, 1994 n 1993 1992m
- ~
(dollari m thousande CASH Flows ritow OPEurtNc ActnmE5:
Net income
$ 187,447
$177,370
$127,884 Depreciation and amortization.
151,830 164,364 144,013 Other amortization (includmg nuclear fuel) 10,905 11.254 8,930 Cain on sales of utility plant (net of tax)
(19,296)
Deferred taxes and investment tax credits (net).
(18,554) 27,686 26,900 Amortization of phase-in revenues 17,544 17,545 13,158 Corporate-owned life insurance (17,244)
(21,650)
(14,704)
Amortization of gain from sale-leaseback (W,440)
(9,640)
(7,231)
, Changes in other working capital items (net of effects from the sales of the Missouri Properties):
Accounts receivable and unbilled revenues (net) (Note 1)
(75,930)
(15,536)
(12.227)
Fossil fuel..
(7,828) 18,073 14,990 Gas stored underground (G,403)
(37,144) 4,522 Accounts payable.
(41,882)
(43,169)
(10,194)
Accrued taxes 30,758 7,485 (52,185)
Other...
12,813 (3,165)
(19,433)
Changes in other assets and liabilities 80,964 (18,569) 21,508 Net cash flows from operating activities 268,779 274,904 245,931 CASH Flows UsEn IN INVESTING AcTnTTIES:
Additions to utihty plant 237,496 237,631 202,493 Merger with KG&E Utihty investment 473,752 2,500 Sales of utility plant (402,078)
Non-utihty investments (net) 9,041 14,271 29,099 Corporate-owned life insurance policies 26,418 27,268 20,233 Death proceeds of corporate-owned hfe insurance policies (10,160)
(6,789)
Net cash flows (from) used in investing activities (128,921) 271,510 718,788 CASH Flows rROM FINANCINc AcrnmEs:
Short-term debt (net).
(132,095) 218,670 42,825 Bank term loan issued for Merger with KG&E 480,000 Bank term loan retired (230,000)
(250,000)
Bonds issued 235,923 223,500 485,000 Bonds retired (223,908)
(366,466)
(236,966)
Rebhing credit agreements (net)
(115,000)
(35,000)
Other long-term debt (net)
(47,893) 7,043 14,498 Borrowings against life insurance policies (net) 42,175 183,260 (5,649)
Common stock issued (net) 125,991 Preference stock issued (net) 50,000 Preference stock redeemed (2,734)
(2,600)
Bank term loan issuance expenses (10,753)
Dividends on preferred, preference, and common stock (134,806)
(127,316)
(99,440)
Net cash flows from (used in) financing activities.
($96,202)
(3,052) 466,915 NET INCREASE (DECREASE) IN CASH AND CASH Entn'ALENTs 1,498 342 (5.942)
CASH AND CASH EQUrVALENTS:
Beginning of the period.
1,217 875 6,817 End of the period
$ 2,715
$ 1,217 875 COMPONENTS OF MERCER wirH KG&E:
Assets acquired.,
$3,142,455 Liabihties assumed.
(2,076,821)
Common stock issued (589,920)
Cash paid 475,714 less cash acquired (1,%2)
Net cash paid
$ 473,752 tilinformation reflects the sates of the Missoun Properties (Note 2).
(2)Information reflects the merger with KG&E on March 31,1992 (Note 3).
The Notes to Consoudated Financial Statements are an integra! part of this statement.
TNIRIT
4
'AKCPE Nut. RoADMAN CosTuot ua March 10,1995 Mr. Mike Gayoso Wolf Creek Nuclear Operating Corporation P.O. Box 411 Burlington, KS 66839
Dear Mike:
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 of its ability to make payment of its share of deferred premiums in an amount of $4.7 million.
The undersigned certifies that the foregoing memorandum with re:;pect to Kansas City Power & Light Company's cash flow for the year 1994 is tme and correct to the best of his knowledge and belief.
Sincerely
~
m 3,l oke
^ ~ ~
o ~- -
r Attachment KANSAS CITY POWER L I G 11 T COMPANY 12 01 W A l. N U T P. O. B O X 418679 K ANS AS CITY, MO 6 4141 -9 6 7 9 + 816-5 5 6-2 2 00
i
~.:
- -- 6 I
Kansa. City h er & Light Company C 0 H S O L I D R T.E D.S T R T E M E H T S O f C B S H F L D W S YearEndedDecember31 19 %
1993 1992 Ithasads!
Cashilat:,s fram Net income
$ 104,775
$ 105,772
$ 86,334 Operating Rctivities Adjustments to reconcile net income to net cash provided by operating activities:
I Depreciation 94,361 91,110 88,768 Amorti:ation of:
Nuclear fuel 10,136 8,705 9,583 Daferred Wo!f Creek costs 13,102 13,102 13,102 MPSC race phase in plaa 7,072 7,072 Other 9,608 8,234 5,921 Deferred income taxes (net) 20,524 25,502 23,979 Deferred investment tax credits (net)
(4,345)
(4,345)
(4,521)
Allowance for equity funds used during construction (2,087)
(2,846)
(1,073)
Cash flows affected by changes in:
Receivables 1,543 (10,245) 2,848 Fuelinventories (2,020) 6,075 (859)
Materials and supplies (796) 1,106 654 Accounts payable 14,065 (17,741) 4,838 Accrued taxes (3,116) 7,936 2,404 Accrued interest (3,366) 2,626 488 Wolf Creek refueling outage accrual (5,142)
(5,338)-
12,600 Pension and postretirement benefit obligations (Note 2) 32,203 -
1,905 (2,753)
Other operating activities (2,860) 4,514 4,352 j
Net cash provided by operating activities 276,585 243,144 253,737 Cashflaws frcm Construction expenditures (124,965)
(129,199)
(129,559)
Investig Retivities Allowance for borrowed funds used during construction (1,844)
(2,542)
(1,785)
Purchases of investments (67,560)
(7.351)
(2,396)
Other investing activities 5,624 7,657 (2,193)
Net cash used in investing activities (188,745)
(131,435)
(135,933)
Cash ficms fitm 1ssuance oflong-term debt 133,793 324,846 134,750 Financing Retiumes Issuance ofpreferred stock 50,000 Retirement oflong-term debt (170,170)
(271,480)
(143,230)
Retirement of preferred stock (13,000)-
I Special deposit for the retirement of debt 60,118 (60,118)
I' Premium on reacquired stock and long term debt (4,077)
(2,321) l Increase (decrease) in short term borrowings 3,000 (4,000)
(53,000)
Dividends paid (96,238)
(93,556)
(91,277)
Other financing activities 335 (1,913) 274 Net cash used in financing activities (69,162)
(110,298)
(117,804)
Net increase in cash and cash equivalents 18,678 1,411 Cash and cash equivalents at beginning of year 1,539 128 128 Cash and cash equivalents at end of year 5 20,217 1,539 128 Cash paid during the year fon i'
Interest (net of amount capitali:ed)
$ 48,246
$ 47,361
$ 55,223 Income taxes
$ 53,720, $ 40,141
$ 32,995 t
O
4 4
uneco Kansas Electric Power Cooperaftve,Inc.
. CHAFAES W. TERRILL - EXECUTIVE VCL PRESIDENT
& CHIEF EXECUTIVE OFFCER March 9,1995 i
i i
Mr. Michael A. Gayoso f
Controller / Treasurer Wolf Creek Nuclear Operating Corp.
P. O. Box 411 Burlington, Kansas 66839
Dear Mike:
Pursuant to the requirements of 10 CFR 140.21(e), Kansas Electric Power i
Cooperative, Inc. is providing the attached audited Statements of Cash Flows to show j
its ability to make payment of its share of deferred premiums in an amount of
$600,000.
1 d
The undersigned certifies that the foregoing memorandum with respect to Kansas Electric Power Cooperative, Inc.'s cash flow for the year 1994 is true and j
correct to the best of his knowledge and belief.
i Sincerely e
~
e I
'fkichard M. Tyler Director, Finance and Accounting I
Enc.
't a
1 Moding Address: P.O. Box 4877. Topeka, Konsos 66604 0877 5990 S.W. 28th Street of Wonomoker Rood 66614 913/273-7010
1 l
l KANSAS ELECTRIC POWER COOPERATIVE, INC.
I STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31,1994 AND 1993 1994 1993 CASH FLOWS FROM OPERATIONS:
Cash nccived from member sales
$ 71,824,160
$ 69,319,804 Cash received from nonmember sales 597,638 705,340 Cash paid for purchased power (32,110,186)
(31,341,538)
Cash paid for Wolf Creek operations (8,836,919)
(7,664,034)
Cash paid for KEPCo operations (2,318,719)
(2,130,643)
Interest paid (16,899,177)
(14,749,319)
Property taxes paid (2,991,557)
(2,724,225)
Interest received 962,008 716,194 Cash paid to decommissioning trust (266,336)
(266,336)
Miscellaneous cash received 214,956 2,364 Net cash from operation:
10,175,868 11,867,607 CASH FLOWS FROM INVESTING ACTIVITIES:
Nuclear fuel purchases (2,545,968)
(672,514)
Plant additions (1,698,981)
(1,667,316)
Wolf Creek Nuclear Operating Corp. investments (222,005)
(181,750)
Cash paid for purchase of temporary investments (1,018,451)
Increase (decrease) in investments in associated organizations (92,509) 1,751 Net cash from investing activities (5,577,914)
(2,519,829)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment oflong-term debt (3,596,862)
(2,820,291)
Fees paid for repricing long-term debt (966,034)
Net cash from financing activities (4,562,896)
(2,820,291)
INCREASE IN CASH AND CASH EQUIVALENTS 35,058 6,527,487 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 9,767,980 3,240,493 CASH AND CASH EQUIVALENTS. END OF YEAR S 9,803,038
$ 9,767,980 (Continued)
I 9
KANSA$i ELECTRIC POWER COOPERATIVE, INC.
STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31,1994 AND 1993 1994 1993 r
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
Net margin 5 4,514,082 5 3,413.540 Adjustments to reconcile net margin to net cash from operating activities:
3,878,269 3,762,844 Depreciation Amortization of nuclear fuel 1,453,045 1,512,726 l
Amortization of deferred charges 709,831 685,857 Amortization of deferred incremental outage costs 1,383,604 1,657,783 Amortization of bond issue costs 105,114 61,514 Accretion of discount /amonization of premium (2,255)
(2,255)
Loss on sales of assets 15,760 3,645 (Increase) decrease in restricted cash and cash equivalents 214,956 (5,098)
(Increase) in Wolf Creek Nuclear Operating Corp. investments (147,309)
(164,573)
(Increase) in decommissioning fund assets (333,604)
(330,039)
Increase in decommissioning liability 333,604 330,039 (Increase) in deferred charges (21,387)
(919,407)
(Increase) in deferred incremental outage expense (2,045,580)
(2,294,252)
Increase in arbitrage payable 184,923 162,410 Increase in Wolf Creek Nuclear Operating Corp. liabilities 278,719 1,177,777 Other (30,297)
Net change in current assets and liabilities:
Accounts receivable 51,812 (43,210)
Materials and supplies inventory (23,241)
(126,920)
Other assets and prepaid expenses (114,579)
(17,858)
Accounts payable (310,733) 443,400 Payroll and payroll related liabilities 5,372 6,144 Accrued property taxes 173,984 90,048 Accrued mterest payable (128,519) 2,493.789 Total adjustments 5,661,786 8.454,067 Total cash from operations
$ 10,175,868 511,867.607 See notes to financial statements.
(Concluded) 1
. 5-
.