ML20217A661
| ML20217A661 | |
| Person / Time | |
|---|---|
| Site: | Maine Yankee |
| Issue date: | 04/15/1998 |
| From: | Matt Thomas Maine Yankee |
| To: | NRC (Affiliation Not Assigned) |
| References | |
| MET-98-47, MN-98-21, NUDOCS 9804220306 | |
| Download: ML20217A661 (3) | |
Text
c.
MaineYankee P.O. BOX 408
- WISCASSET. MAINE 04578 + (207) 882-6321 April 15,1998 MN-98-21 MET-98-47 i
Director of Nuclear Reactor Regulation U.S. NUCLEAR REGULATORY COMMISSION Washington, DC 20555
Reference:
(a) License No. DPR-36 (Docket No. 50-309)
Subject:
Statement of Sources of Funds Gentlemen:
In accordance with the requirements of Section 140.21 of 10CFR Part 140, Maine Yankee Atomic Power Company hereby submits a Statement of Sources of Funds for Acquisition of Nuclear Fuel and l
Construction of Electric Property for 1997 and a Statement of Estimated Capital Requirements and Sources for 1998.
l If you have any questions, please contact me.
l Very truly yours, Michael E. Thomas Vice Preseident and Treasurer MET:NGH
(, f l
Enclosure C:
Patrick J. Dostie
[)h l
Hubert J. Miller Richard J. Rasmussen Uldis Vanags Michael Webb Michael Masnik Ron Bellamy 9804220306 980415 PDR ADOCK 05000309 I
PDR i
s 9
Maine Yankee Atomic Power Cos@any STATEMENT OF CASH FLONS (Dollers in Thouscnd:3) l 1997 Ocaratina Activities Not Income
$ 9,037 Items Not Requiring (Providing) Cash l
Fuel Amortization 1,122 Depreciation and Decommissioning 33,625 Deferred Income Taxes and Investment Tax Credits, Net 13,035 Allowance for Equity Funds Used for Nuclear Fuel and During Construction (158)
Long-Term Fuel Disposal Interest, Not of AFN 6,195 Other, Not (1,350)
Changes in Certain Assets and Liabilities Accounts Receivable (11,050)
Other current Assets 429
_]
Accounts Payable 1,155 i
Accrued Interest and Taxes 253 Net Cash Provided by Operating Activities 52,293 Investina Activities Acquisition of Nuclear Fuel (27,643)
Construction of Electric Property (11,786)
Changes in Accounts Payable - Investing Activities Nuclear Fuel 537 i
Construction of Electric Property (692)
Investment Income in Decommissioning Trust.
23,002 Trust Fund Investments Fuel Disposal (8,793)
Plant Decommissioning (37,886)
Not Cash Used by Investing Activities (63,261)
Finangina Activities Issuances (Redemptions)
Bank Notes, Not i
Fuel Financing Notes, Not 47,000 Long-Term Debt (6,667)
Preferred Stock (600) l Dividend Payments Common Stock (1,500) l Preferred Stock (1,436)
Not Cash Provided by Financing Activities 36,797 Net Increase in Cash and Cash Equivalents 25,829 Cash and Cash Equivalents at Beginning of Year
_i,418 Cash and Cash Equivalents at End of Year
$ latlil l
Supplemental disclosure of cash flow informations Cash paid during the year for Interest (not of amounts capitalized)
$ 10,348 Income taxes 860 Disclosure of accounting policy:
For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased having a maturity of three months or less to be cash equivalents.
S:\\FINADMIN\\RJECASilFLOW. DOC j
f MAINE YANKEE ATOMIC POWER COMPANY ESTIMATED CAPITAL REQUIREMENTS AND SOURCES l
1998 (Dollars in Thousands) l CASH RECEIPTS Operating Income Before Interest Expense
$ 19,930 I
Amortization of Reg. Assets - Fuel & DOE D&D 4,859 Amortization of Reg. Assets - Plant & Other 17,657 Income Tax; Property Tax & Insurance Proceeds / Accruals 17,917 Sale of Fuel - Cycle 16 & Other Assets 22,250 Income Tax (NOL) Refund 13,860 Proceeds from Refinancing 128.000 Total Receipts 224.473 CASH DISBURSEMENTS Refinancing Costs 10,000 Repurchase - Preferred Stock 600 Interest Payment - Long Term Debt 6,096 Interest Payment - Short Term Debt 4,306 Income and Property Tax Payments 7,471 DOE D&D Fee 1,832 Insurance Payments 1,907 Spent Fuel Disposal Trust 2,122 Common Dividends 0
l Preferred Dividends 1,391 Nuclear Fuel Defabrication Costs 1,200 W/C & Chg. in A/P Activity 11,770 Bank Scheduled Payments 64,000 Bond Scheduled Payments 83,332 Revolver Prepayments 40.250 Total Disbursements 236.277 Cash Surplus (Needs)
( 11,804)
Projected Cash Balances Beginning Cash 30,247 Change in Cash (11.804) l Ending Cash Balance 18.443 Projected Short Term Borrowings Total Projected Revolver Balance at Y/E 1998
$42.750 NOTE:
1.
At December 31, 1997, the Company had capital resources available from secured credit facilities totaling $67,000,000 of which $67,000,000 was utilized and $30,236,000 was invested.
I certify that this statement fairly represents the Capital requirements and Sources of this Company based on current estimates.
W Michael E. Thomas Vice President and Treasurer l.
l SAFINADMINMEBCAPREQ.SOU J