ML20138G179
| ML20138G179 | |
| Person / Time | |
|---|---|
| Site: | Wolf Creek  |
| Issue date: | 04/30/1997 |
| From: | Maynard O WOLF CREEK NUCLEAR OPERATING CORP. |
| To: | Collins S NRC (Affiliation Not Assigned) |
| References | |
| WM-97-0053, WM-97-53, NUDOCS 9705060194 | |
| Download: ML20138G179 (7) | |
Text
. _. _ _
j i
Wf#LF CREEK NUCLEAR OPERATING CORPORATION l
Otto L Maynard t
President and Chief Executive Offcer l
April 30, 1997 i
S. J. Collins, Djrector Office of Nuclear Reactor Regulation
[
U. S. Nuclear Regulatory Commission Washington, D.
C.
20555
Subject:
Docket No:
50-482:
Guarantee of Payment of Deferred Premiums, 10 CFR 140.21 4
Dear Mr. Collins:
Pursuant to the requirements of 10 CFR 140.21, each operating reactor licensee is required to maintain financial protection through guarantees of payment of deterred premiums.
The Owners of Wolf Creek Generating Station are providing the attached documentation of their ability to pay deferred premiums in the i'
amount of ten million
- dollars, as required by federal regulation Kansas City Power & Light Company, Kansas Electric Power Cooperative, Inc.,
and Western Resources, Inc., including its wholly-owned subsidiary Kansas Gas
]
and Electric Company, have provided an audited 1996 Consolidated Statement of 4
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 4
(316) 364-8831, extension 4000, or Mr.
R.
D.
Flannigan, at extension 4500.
Very truly yours,
[ '\\
/$
Otto L. Maynard i
t OLM/jad
)
Attachments cc:
E.
W.
Merschoff (NRC), w/a W.
D. Johnson (NRC), w/a
)
J.
F. Ringwald (NRC), w/a J.
C. Stone (NRC), w/a
/
l Document Control Desk (NRC), w/a
/
1 i
9705060194 970430
,f,f[,g]((fl PDR ADOCK 0500 2
b t
A A
e i
P.O Box 411 i Burhngton, KS 66839 / Phone: (316) 3fA-6831 An EoualOp ortunity Employer M F HCNET i
RECEIVED KEPCo Kansas Electric f
Power Cooperative, Inc ""
g 2
March 31,1997 Mr. Michael A. Gayoso Comptroller 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 Cooperative, Inc. is providing the attached audited Statements of Cash Flows to show its ability to make payment of its share of deferred premiums in an amount of $600,000.
j The undersigned certifies that the foregoing memorandum with respect to Kansas Electric Power Cooperative, Inc.'s cash flow for the year 1996 is true and correct to the best of his knowledge and belief.
Sincer 1,
,/
Richard M. Tyler Controller Enc.
Phone 943/273-7010. Fox 913/271-4888 Mailing Address: P.O. Box 4877. Topeka. Kansas 66604 0877. Street Address: 5990 S.W. 28th street 66614 c
6 i
KA,NSAS ELECTRIC POWER COOPERATIVE, INC.
STATEMENTS OF CASH FLOWS YEARS ENDED DECTMBER 31,1996 AND 1996 1996 1996 RECONCILIATION OF NET MARGIN TO NET CASH PROVIDED BY OPERATING ACTIVITIES.
Net margin 5 5,225,443
$ 5,892.753 Adjustments to reconcile net margin to net cash from operating activities:
Depreciation Amortization of nuclear fuel 4,620,720 4,223,012 i
2,495,323 1,921,927 Amo.tization of deferred charges 826,982 766,170 Amortizatich of deferred incremental outage costs 2,117.349 1,352,932 Amortization of bond issue costs 406,281 104.761 Accretion of discount / amortization of premiura Less on sales of assets (2,255)
(2,255) leercase in decommissioning fund assets
$83 Decrease in deferred charges (331,563)
(404,936) 119,635 28,059 increase in decommissioning liability 331,563 404,936 Increase in deferred incremental outage expense Increase (decrease)in arbitrage payable (2,977,080)
(571,856) 88,139 increase in Wolf Creek Nuclear Operating Corp. liabilities Net change in current assets and liabilities:
145,165 325,507 Accounts receivable from members Materials and supplies inventory (305,504)
(285,166)
Other assets and prepaid expenses 53,4 %
(32,079)
Accounts payable (60,806) 32,949 Paysvil and payroll related liabilities 263,906 314,824 Accrued property taxes (11.249)
(8,505)
Accrued interest payable (69,722)
(21,115)
(2,131,075)
(388,670)
Total adjustments 4,919,220 8,421.073 Net cash provided by operating actrvities 10,144,663 14,313,826 CASl1 FLOWS FROM INVESTING ACTIVITIES:
Nuclear fuel purchases Plant additions (528,618)
(3,427,459)
Wolf Creek Nuclear Operating Corp. investments (I,173,126)
(1,187,072)
Purchases (sales) of short-term investments (384,181)
(394,934)
Purchases ofother investments 403,547 (2,567,429)
Decrease in investments in associated organizations (3,786,070)
(1,454,740) 6.824 7,666 Net cash used by investing activities (5,461,624)
(0,023,968)
CASil FLOWS TROM FINANCING ACTIVITIES-i Repayment oflang-term debt Penalties paid for upricing long-term debt (5,552,463)
(3,820.150) i Financed penalties for repricing long-term debt (1,415,752)
(2,187,394) 1,029,556 2,434,043 Net cash used by financing activities (5.938,659)
INCREASE (DECREASE)IN CASH AND CASH EQUlVALENTS (3,873,501)
(1,255,620) 1,416,357 CASil AND CASH EQUIVALENTS, BEGINNING OF YEAR
_ 11.219,395 9,803,038 CASH AND CASH EQUIVALENTS, END OF YEAR
$ 9,963,775 511.219.395
$UPPLEMENTAL INFORM ATION Interest paid Property taxes paid 18,377,637 17,202,258 3,040.840 3,131,294
t.
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~
mec-FEB 131997 Nut ROADMAN ourwun February 10,1997 Mr. Mike Gayoso Wolf Creek Nuclear Operating Corporation P.O. Box 411 Burlington, KS 66839
Dear Mike:
Pursuant to the requirements of 10 CFR140.21(e), Kansas City Power & Light Company is providing the attached audited Consolidated Statements of Cash Flows of it ability to make payment ofits share of deferred premiums in an amount of $4.7 million.
The undersigned certifies that the foregoing memorandum with respect to Kansas City Power &
Light Company's cash flow for the year 1996 is true and correct to the best of his knowledge and belief.
Sincerely, Magt e%
l Attachment l
KANSAS C1TY POWER L1GHT COMPANY l
12 01 W A l. N U T P. O. B O X 418679 K ANS AS CITY, MO 64141 9679
- 816-556-2200 l
l
s-i l Kansas City Power & Light Company: Financial Statements l i
Consolidated Statements of Cash Flows J
Year Ended December 31 1996 1995 1994
(:nousands)
Cash flows from Operating Activities i
Netincome
$ 108,171 3 122,586
$ 104,775 Adjustments to reconcile net income to net cash from operating activities:
Depreciati<vi 103,912 97,225 94,361 Amortization of; Nuclear fuel 16,094 14,679 10.136
)
Deferred Wolf Creek costs 11,617 12,607 13.102 Other 5,507 8.152 9.608 Deferredincome taxes (net)
(8,662)
(3,268) 20,524 Investment tax credit amortization and reversals (4,163)
(11,570)
(4,345)
Deferred storm costs (8,885) l Allowance for equity funds used during construction (2,368)
(2,279)
(2,087)
Cash flows affected by changes in:
Receivables 1,462 (17.551) 1,543 Fuelinventories 3,026 (5,533)
(2,020)
Materials and supplies (159)
(2,222)
(796)
Accounts payable 3.112 (20,980) 14.065 Accrued taxes (21,283) 15.042 (3,116) l Accrued interest 4,148 4,697 (3,366)
Wolf Creek refueling outage accrual (6,382) 11,443 (5,142)
Pension and postretirement benefit obligations (84)
(4,176) 32.203 Other operating activities 11,846 4,325 (2.B60)
Net cash frorn operating activities 216,909 223.177 276,565 Cash Flows from investing Activities Utility capital expend;tures (100,947)
(134,070)
(124,965)
Allowance for borrowed funds used during construction (1,947)
(1,963)
(1,644)
)
Purchases ofinvestments (35,362)
.(56,759)
(67,560)
Purchases of nonutility property (20,395)
Other investing activities (931) 9,046 5.624 Net cash used in investing activities (159.582)
(183.746)
(188,745)
Cash Flows from Financing Activities issuance of long-term debt 135,441 111,055 133,793 Repayment of long-term debt (74,230)
(33,428)
(170,170)
Special deposits 60,118 Net change in short-term borrowings (19,000)
(13,000) 3,000 Dividends paid (102.203)
(99,358)
(96,238)
Other financing activities (2,154) 3.473 335 Net cash used in financing activities (62,146)
(31,258)
(69,162)
Net Change ~in Cash and Cash Equivalents (4,819) 8.173 18,678 Cash and Cash Equivalents at Beginning of Year 28,390 20,217 1.53 9 Cash and Cash Equivalents at End of Year 8 23,571
$ 28,390
$ 20.217 Cash Paid During the Year fon interest (net of amour,t capitalized)
$ 52.457
$ 48,200
$ 48,246 income taxes S 58,344
$ 67,053
$ 53.720
.T
\\
REUi!VED APh 1 0 1997 YesternResotaces sy:_
JERRY D. COURINGToN c-o&r April 9,1997 i
l Mr. Mike Gayoso Wolf Creek Nuclear Operating Corporation PO Box 411 Burlington, KS 66839 f
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 ofits ability to make payment ofits share of deferred premiums in an amount of $4.7 million.
The undersigned certifies that the foregoing memorandum with respect to Western Resources, Inc.'s cash flow for the year 1996 is true and correct to the best of his knowledge and belief.
i l
()}
r l
Jerry D, Couringt n l
C ntroller I
i J
i i
818 South Kansas Avenue / P.O. Ibx 889 / Topeka, Kansas 66601 l
Telephone: (913) 575 6365 / Fax: (913) 575 6496 Internet: jerry _courington@wstnres.com
l',
wtsJEAN RESOURCl$, WC.
i
,e Consolidated Etatements of Cash Fl:ws Year Ended December 31 (Dollars in Thousands) 1996 1995-1994m CASH FLOWS FROM OPERATING ACTMTIES:
Netincome.
$ 168,950
$ 181,676
$ 187,447 Depreciation and amortization.
190,628 160.285 157,398 Amortization of nuclear fuel.,,,
15,685 14,703 10.437 Gain on sale of utility plant (net of tax)
(951)
(19,296)
Amortization of phase-in revenues.
17,544 17.545 17,544 l
Corporate owned life insurance policies,
(29,713)
(28,548)
(17,246) l Amortization of gain from sale-leaseback.
(9,640)
(9,640)
(9,640)
Equityin samings of investees (9,373)
Deferred acquisition costs (31,518)
Changes in other working capital items (net of effects from acquisitions):
Accounts receivable and unbilled revenues (net)(Note 1)
(47,474)
(37,532)
(75.630) fossil fuel,
15,681 (15,980)
(7,828)
Gas stored und',round.
(1,921) 17,116 (5.403) l Accounts payable 15,353 18.578 (41,682)
Accrued taxes.
26,709 (19,024) 20.756 Other.
18,325 8.179 41,309 Changes in other assets and liabilities,
(63,950) 537 9.625 Net cash flows from operating activitias..
275,286 306.944 267,791 CASH FLOWS USED IN INVESTING ACTMTIES:
Additions to utility plant.
199,509 236.827 237.696 Sales of utility plant.
(1,723)
(402.076) l Purchase of ADT common stock.
589,362 l
Security business acquisitions.
368,535 Non-utility investments (net).
6,563 15.408 9.041 Corporate owned life insurance policies,
54,007 55.175 54.914 Death proceeds of corporatrewned life insurance policies (10.653)
(11.187)
(1.251)
Net cash flows used in (from) investing activities.
1.207,323 294,500 (101.676)
CASH FLOWS FROM FINANCING ACTMTIES:
Short term debt (net) 777,290 (104,750)
(132,695) r Bonds issued 235,923 l
Bonds retired (16,135)
(105)
(223,906) l Revolving credit agreements (net) 225,000 50,000 (115,000)
Other lang-term debt retired..
(67,893)
Other mandatorily redeemaole securities.
120,000 100,000 Borrowings against life insurance policies 45,972 49,279 70,633 7
Repayment of borrowings against life insurance policies.
(4,963)
(5.364) 1225) t Common stock issued (net).
33,212 36,161 I
Preference stock redeemed..
(100,000)
Dividends on preferred, preference, and common stock.
(147,035)
(137.946)
(134.806)
Net cash flows from (used in) financing activities.
933,347 (12.745)
(367,969)
NET INCREASE (DECREASE)IN CASH AND CASH EQUIVALENTS 1,310 (301) 1,498 CASH AND CASH EQUIVALENTS:
Beginningof theperiod 2.414 2.715 1,217 End of the period.,
3,724 2.414 2.715 F
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION CASH PAID F0FL i
interest on financing activities (net of amount capitalized).
$ 169,713
$ 136.548
$ 134.785 income taxes 66,692 B4.811 90.229 e
1 ft)Informaton reflects the sales of the Mssouri Propertes (Note 19).
The Notes to Corsohdated knancel Statanents are en integral part of eus statement, 32
_-.