ML20217F759
| ML20217F759 | |
| Person / Time | |
|---|---|
| Site: | Wolf Creek  |
| Issue date: | 04/24/1998 |
| From: | Maynard O WOLF CREEK NUCLEAR OPERATING CORP. |
| To: | NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM) |
| References | |
| WM-98-0026, WM-98-26, NUDOCS 9804280261 | |
| Download: ML20217F759 (7) | |
Text
O s.
W$LF CREEK NUCLEAR OPERATING CORPORATION Otto L. Maynard President and Chief Executive Officer April 24, 1998 WM 98-0026 S.
J. Collins, Director 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
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 deferred premiums.
The Owners of Wolf Creek Generating Station are providing the enclosed documentation of their ability to pay deferred premiums in the amount of ten million dollars, as required by 10 CFR 140.21 (e).
Kansas City Power & Light Company, Kansas Electric Power Cooperative, Inc.,
and Western Resources, Inc., including its wholly-owned subsidiary Kansas Gas l
and Electric Company, have provided an audited 1997 Consolidated Statement of Cash Flows in order to demonstrate sufficient funds are available to meet their share of the deferred premiutas.
l If you have any questions concerning this matter, please contact me at (316) 364-8831 extension 4000 or Mr. Mike Angus at extension 4077.
Very truly yours,
/N[(/fl/W&
[{ i
,;)'
Otto L. Maynard OLM/rlr i
Enclosures (3) l l
cc:
W.
D. Johnson (NRC), w/e E.
W.
Merschoff (NRC), w/e J.
F. Ringwald (NRC), w/e K. M. Thomas (NRC), w/e Document Control Desk (NRC), w/e
\\
l 9804280261 980424 PDR ADOCK 05000482 oj (I( n i
I PDR v
P.O. Box 411/ Burhngton, KS 66839 / Phone. (316) 364-8831 An Equal Opportunity Employer M/F/HC/ VET
E K.PE NEIL ROADMAN Comoun February 10,1998 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(c), 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 $ 5 million.
The undersigned certifies that the foregoing memorandum with respect to Kansas City Power &
Light Company's cash flow for the year 1997 is true and correct to the best of his knowledge and belief.
Sincerely,
.,/
Attachment i
l l
l KAN5AS C1TY POWER LIGHT COMPANY 1201 W ALNUT P.O. BOX 418679 K ANS AS CITY, MO 64141 9679
- 816 556 2200
l KANSAS CITY POWER & LIGHT COMPANY Censolidated Staternents of Cash Flows Year Ended December 31 1997 1996 1995 (thousancs)
Cash Flows from Operating Activities Net inecme 76,560 5 108,171 S 122,586 Adjustments to recencile net inecme to net cash from coerating activities:
Depreciation 110,898 103,912 97,225 Amortizatien ef, Nuclear fuel 16,836 16,094 14,679 Deferred Weif Creek cests
.1,368 11,617 12,607 Other 8,223 5,507 8,152 Deferred inecme taxes (net) 4,780 (8,562)
(3,268) investment tax credit amertization and reversals (3,850)
(4,183)
(11,570)
Deferred stcrm ecsts (8,385)
A!!cwance fer equity funds used during construction (2,407)
(2,368)
(2,279)
Other operating activities (Note 1)
(3,924)
(4.314)
(14,955)
Net cash from coerating activities 208,484 216.909 223,177 Cash Flows from Investing Activities Utility capitat expenditures (124,734)
(100,947)
(134,070)
Allowance for borrewed funds used during construction (2,341)
(1,947)
(1,963)
Purchases ofinvestments (107,603)
(35,362)
(56,759)
Purchases of nenutility prcperty (15,733)
(20.395)
Sale of street!ignts 21,500 Other investing activities (8,902)
(931) 9,046 Net cash frem investing activities (237,813)
(159.582)
(183,746)
Cash Flows from Financing Activities
!ssuance of mandaterily redeemable Preferred Securities 150,000 Issuance of long-term debt 66,292 135,441 111,055 Repayment cflong-term debt (28,832)
(74,230)
(33.428)
Net change in short-term berrewings 1,243 (19,000)
(13,000)
Dividends paid (104,042)
(102,203)
(99,358)
Other financing activities (4,805) ~
(2,154) 3,473 Net cash from financing activities 79,856 (52,146)
(31,258)
Net Change in Cash and Cash Equivalents 50,527 (4.819) 8,173 l
Cash and Cash Equivalents at Beginning of Year 23,571 28,390 20,217 l
Cash and Cash Equivalents at End cf Year S
74,098 5 23,571 5 28.390 Cash Paid Dunng the Year for:
Interest (net cf amcunt capitali:ed)
S 71,272 5 52,457 5 48.200 income taxes S
22,385 5 58,344 5 67,053 The a::cm;;anying N::es to Censchcatec Financ:al Statements are an integral part of these statemen:s.
(
l
xerco Kansas Electric P
g ower Cooperative, Inc.
April 13,1998 Mr. Mark Larson Comptroller Wolf Creek Nuclear Operating Corp.
P. O. Box 411 Burlington, Kansas 66839
Dear Mark:
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.
The undersigned certifies that the foregoing memorandum with respect to Kansas Electric Power Cooperative, Inc.'s cash flow for the year 1997 is true and correct to the best of his knowledge and belief.
Sincerely, N
Sandy Abrahams Controller Enc.
l Phone; 785/273-7010 + Fox. 765-271-4888 + Home Page. www.kepco org Mailing Address: P O. Box 4877 + Topeko. Konsos 66604-0877 + Street Address: 5990 SW 28th Street 66614
KANSAS ELECTRIC POWER COOPERATIVE, INC.
STATENENTS Ok CASH FLOWS YEARS ENDED DECEMBER 31,1997 AND 1996 1997 1995 RECONCILIATION OF NET MARGIN TO NET CASH PROVIDED BY OPERATING ACTIVITIES Net margin 1 4.798.317 5 5.225.443 Adjustments to reconcile net margin to nel cash from operating activities.
Depreciation 5.024.125 4.620,720 Net change in unrealized gain on investments 333.293 235.522 Amortization of nuclear fuel 2.501.840 2.495.323 Amortization of deferred charges 681.824 826.982 Amortization of deferred meremental outage costs 1.720.789 2.117.349 l
Amortization of bond issue costs 348.504 406 281 Accretion of discount bond fund reserve (2.255)
(2.255)
Increase in decommissioning fund assets (682.987)
(331,563)
(Increase) decrease in deferred charges (29.671)
I19.635 increase in decommissioning liability 682.987 331.563 Increase in deferred incremental outage costs (3.194.067)
(2.977.080)
Increase (decrease) in arbitrage rebate payable 282.058 (571.856) increase in Wolf Creek Nuclear Operstmg Corp liabilities 75.293 145.165 Net change in current assets and liabilities-Accounts receivable from members 95.120 (305.504)
Materials and supplies inventory (5.476) 53.406 Other assets and prepaid expenses 21.675 (60.8%)
Accounts payable 1,859.630 263.906 Payroll and payroll related liabilities 47.250 (11.249)
Accrued property taxes (189,022)
(69.722)
Accrued interest payable (258.829)
(2.131.075)
Total adjustments 9.312.081 5.154.742 Net cash provided by operatmg activities 14.110.398 10.380.185 CASil FLOWS FROM INVESTING ACTIVITIES:
Nuclear fuel purchases (2.791.307)
(528.618) t Plant additions (1,116.406)
(1,173.126)
Wolf Creek Nuclear Operating Corp imestments (430.343)
(384.181)
(Purchases) sales of short-term investments (816.080) 168.025 l
Purchases of other investments (1.747.733)
(3.786.070)
Decrease in investments in associated organizations 6.672 6.824 increase in bond fund reserve (144.613) l Nel cash used by investmg activities (7.039.810)
(5.697.146) j CASH FLOWS FROM FINANCING ACTIVITIES Repayment of tong-term debt (4.781.228)
(5.552.463) i Penalties paid for repricing long term debt (1.415.752)
Financed penalties for repriemg long-term debt 1.029.556 l
Fees paid for refmancmg long-term debt
(.3.323.602)
Patronage capital distributions paid (4.459.628)
Membership fees 100 Net cash used by financing acin iiics (12.564.358)
(5.938.659)
DECREASE IN CASl1 AND CA$11i Ql)lVALLNTS (5.493.770)
(1.255.620)
CASil AND CAsil EQUIVALENTS. DFGINNING OF YEAR 9.963.775 11.219.395 CASil AND CASil EQUIVALENTS. END OF YEAR 5 4.470.005 5 9.963.775 SUPPLEMENTAL INFORMATION.
Imerest paid 5 16.484.478 518.377.637 Propeny taxes paid 5 2.811.022 5 3.040.840 See notes to financial statements l, l
1 L
J.
M JEM.Y D. COURINQ13 c m d er April 15,1998 Mr. Mark Larson Wolf Creek Nuclear Operating Corporation PO Box 411 Burlington,KS 66839
Dear Mark:
I 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 tiow for the year 1997 is true and correct to the best of his knowledge and belief.
D. douringt6n ontroller i
l l
l 818 South Kansas Avenue / P.O. Box 889 / Topeka, Kansas 66601 l
Telephone:(785) 575 6365 / Fax:(785) 575 6496 l
Insemet: Jerry _counnstonewmees. corn C00/E00@
33H.10S33 NH3.LS3a 98tpSLSESLG 99:ti 96/SI/to
- 0EsfERN RESOURcts,INC.
CONSOLID ATED STATEMENTS OF CASH FLOW 5 war Enced December 31.
(Donars in Thoasa.kts) 1ee7 1996 1985 CASH FLOWS FROM OPERATING AC71YitlES:
Net mcome..,,
S 494,094
$ 166,950 181.676 Adjustments to reconcile net income to ret cash provided by operating activ:t es:
Dep'ec'r. ion and smortjtstion,,,..
286.725 201.331 177,830 Gain on Sale of secunties (964,253)
Ecutty in semings from investrnents (25,406)
(9.373) 1 Wrtte.off of deferre0 rnerger costs..
40'E
~
~
Secur:ty asset Irepairment charge...,
40,144 Changes in working captal items (net of effects from acquisitions):
Accounts receivable, net..
14.158 (47.474) 137.532) hventorWis and supplies..
3,249 10,624 (715)
Marketable securdes (10,461)
Prepaid expenses and cther,..
9.230 (14,900) 6,958 Accounts paysele,
(48,295) 15.353 18.578 Accrued linoll ties 65,071 10.261 (5,079)
Accrued income tanes 9,889 26.377 (14.209)
Other (8,684)
(4,824)
(28.642)
Ctantes in ether assets s'sd liabilities.
(89.353)
(87,285) 5,134 Net cash flows (used in) from ope' sting activ'tles (85.908) 269.040 303,999 CASH FLOWS USED IN INVESTING ACTIVITIES:
Additions to property, plant and equipment (net)...
210,738 195.602 232,252 Custcmer secourt acqu!sitions 45.183 Proceeds from sale of secun+jes (1,533,530)
Secuity alarm fnenitonng 80Qu'sitions, net of cash, acqui*ed 438,717 368,535 Purchase of ADT common stock,.
589,362 J
Other invest *nents (net) 48,318 6.583 15,408 i
het cash flows (from) used in Irvest ng acitvities.
(793.594) 1,160,062 247,660 CASH FLOWS FROM FINAhotNe ACTIVITIES:
Short. term debt (net)...
(744,240)
't? 7.290 (104,750)
Proceeds of longterm debt.......,
520,000 225,000 50,000 (293,977)
(16,135)
(105)
Retirements o' longterm cebt 120,000 100,000 i
Issuance of other rrendatorily redeemable securities,
25,042 33.212 36,161 issuance of com#non stock (net)
Redemption of preference stoca (100.000)
Casi d vidends paid (141,727)
(147,035)
(137,946)
Net casa flows (used in) from financing activltles (G34,902) 892.332 (56.6t.0)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 72,as4 1.310 (301)
CASH AND CASH EQUlWALENTS:
Beg:nntrg of the period..,
3,724 2,414 2,715 End of the panod 78,90s 3,724 5
2,414 SUPPLEMENTAL DISCLOSURES OF CASH FLOW thFORM ATich CASH Palp POR:
$ 193,468 5 170,635 136,526 Merest on financing activlt es (net of amount capitsil2ed).
bcome taxes 404.548 66.692 B4,811
$UPPLEMENTAL SCHEDULE OF NONCASH INVEsflNa AND FINANCING ACTIVITIES:
Durleg 1997 the company cont *tuted the net assets of its natural gas business toist!ng ADD *0ximately $594 mtlilon to ONE04 in exchange for al ownership enterest of 45% in ONEOK.
We Notes to ccmotcetee wne ei s'.stemtats e.e en intes,el port of then statement-30 C00/C00E 33H.10S3H NH3.LS3.tt 96t9 SAS 991G 9S*tI 66/ST/t0