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32. 1997 Economic Census





970. Major Investor-Owned Electric Utilities--Balance Sheet and Income Account of Privately Owned Companies

[In billions of dollars ($182,451 represents $182,451,000,000). As of Dec. 31. As of 1990, covers approximately 180 investor-owned electric utilities that during each of the last 3 years met any one or more of the following conditions--1 mil. megawatt-hours of total sales; 100 megawatt-hours of sales for resale, 500 megawatt-hours of gross interchange out, and 500 megawatt-hours of wheeling for other]

 
1991 1992 1993 1994 1995 1996 1997 1998
 
          COMPOSITE INCOME ACCOUNTS
 
Operating revenue 182,451 185,493 193,638 196,282 199,967 207,459 215,083 217,818
  Electric 166,804 169,488 176,354 179,307 183,655 188,901 195,898 201,613
  Gas 14,560 14,937 16,687 16,222 15,580 17,869 18,663 15,735
  Other utility 1,087 1,068 597 753 731 689 522 470
 
Operating expenses 150,362 153,682 161,908 164,207 165,321 173,920 182,796 186,103
  Electric 135,948 139,009 146,118 148,663 150,599 156,938 165,443 171,294
    Operation 0 0 91,328 93,108 91,881 97,207 104,337 110,807
    Maintenance 0 0 12,447 12,022 11,767 12,050 12,368 12,451
    Depreciation 16,127 17,092 18,099 18,679 19,885 21,194 23,072 23,890
    Taxes other than income taxes 12,270 12,760 13,040 13,275 13,519 13,569 13,612 12,836
    Regulatory debits (net) 0 0 429 706 1,142 683 616 -585
    Income taxes 8 7 8,297 9,626 11,480 11,195 11,862 13,078
    Deferred income tax 2,295 3,017 2,993 1,832 1,474 1,617 25 -535
    Investment tax credit (net) -392,931 -524,768 -516 -585 -550 -577 -448 -649
  Gas 13,406 13,691 15,235 14,878 14,073 16,258 16,925 14,396
    Income taxes 0 0 252 465 532 224 585 668
    Other 13,098 13,412 14,983 14,413 13,541 16,034 16,341 13,718
  Other utility 1,008 982 556 667 649 725 427 413
   Income taxes 0 0 11 15 6 -22 2 -4
   Other 1,004 955 545 652 643 747 425 417
 
Operating income 32,089 31,811 31,730 32,074 34,646 33,539 32,286 31,715
  Electric 30,856 30,479 30,236 30,645 33,057 31,963 30,454 30,319
  Gas 1,154 1,246 1,452 1,344 1,507 1,612 1,737 1,339
  Other utility 79 86 41 86 82 -36 95 57
Other income and deductions 523 1,689 1,346 1,810 1,811 1,614 1,813 1,112
  Allowance for other funds used during construction 706 612 591 403 316 231 201 184
  Less taxes 1 0 1,120 478 351 597 1,007 1,738
  Deferred earnings (misc.) 1,272 1,341 677 802 373 774 666 2,770
  Less other income and expenses 601,723 -115,638 -1,197 -1,082 -1,474 -1,207 -1,954 104
 
Total income before interest charges 32,612 33,500 33,076 33,884 36,457 35,153 34,100 32,827
 
Net interest charges 15,736 15,223 14,700 14,162 14,421 13,990 14,086 13,963
  Interest expense 16,010 15,307 14,567 13,915 14,170 13,646 13,768 13,654
  Less allowance for borrowed funds used during construction 1 1 555 421 435 326 331 323
  Other charges,net 361,424 474,080 689 667 687 671 649 632
 
Net income before extraordinary charges 16,876 18,277 18,376 19,722 22,036 21,162 20,014 18,864
Less extraordinary items after taxes -74 -108 484 -165 -25 -66 3,151 1,344
Net income 16,950 18,384 17,891 19,888 22,061 21,228 16,863 17,521
 
Dividends declared - preferred stock 1,945 2,039 1,765 1,582 1,519 1,248 1,005 756
Earnings available for common stocks 15,004 16,345 16,126 18,306 20,542 19,980 15,857 16,764
Dividends declared - common stock 14,428 14,898 15,334 15,876 16,250 16,810 17,756 17,361
Additions total earnings 254 2,184 296 2,063 4,282 2,193 -1,960 -17
 
          COMPOSITE BALANCE SHEET
 
    Total assets and other debits 487,540 506,352 566,641 574,512 578,934 581,991 586,241 598,951
Utility plant, net 376,772 386,865 393,829 397,812 397,383 396,438 385,258 363,015
  Electric utility plant, net 349,611 358,300 363,829 366,936 366,116 363,854 351,427 328,215
    Electric utility plant 479,822 498,119 519,207 535,928 553,858 569,969 579,042 574,716
    Construction work in progress 0 0 18,049 17,148 13,523 11,396 11,164 11,353
    Less accumulated depreciation 148,288 160,467 173,427 186,140 201,265 217,510 238,779 257,854
  Nuclear fuel, net 6,912 6,837 5,964 5,657 5,286 5,444 5,219 4,791
  Other utility plant, net 20,249 21,728 24,036 25,219 25,981 27,140 28,613 30,009
 
Other property and investments 17,385 18,046 20,064 23,479 27,988 33,120 43,248 48,398
Current and accrued assets 43,358 43,448 42,410 41,263 44,140 43,515 47,639 54,491
Deferred debits 50,025 57,994 110,338 111,957 109,423 108,918 110,096 133,048
 
    Liabilities and other credits 487,540 506,352 566,641 574,512 578,934 581,991 586,241 598,951
Capitalization 348,828 356,027 360,455 364,725 365,775 365,783 369,079 366,814
  Common stock equity (end of year) (NA) (NA) (NA) 164,483 170,497 174,325 174,467 172,351
    Common stock 99,723 103,964 107,471 109,522 111,302 112,633 113,890 113,169
    Retained earnings (adjusted) 51,948 52,383 52,826 54,961 59,195 61,692 60,577 59,182
  Preferred stock 25,262 25,539 25,304 24,860 21,569 18,830 16,080 14,337
  Long-term debt 171,895 174,141 174,854 175,382 173,708 172,627 178,532 180,126
 
Current liabilities and deferred credits 138,711 150,326 206,186 209,787 213,159 216,208 217,162 232,137
  Other noncurrent liabilities 6,931 8,628 11,478 13,453 14,352 15,309 17,086 18,004
  Current and accrued liabilities 43,357 45,558 48,879 48,035 49,929 49,342 51,594 57,743
  Deferred credits 88,423 96,140 145,829 148,299 148,877 151,557 148,482 156,389
    Accumulated deferred income taxes 59,188 65,021 104,964 107,055 108,615 110,537 106,394 106,550
    Accumulated deferred investment tax credit 14,690 14,047 13,429 12,784 12,139 11,491 10,783 9,793
    Other deferred credits (adjusted) 14,545 17,072 27,436 28,460 28,123 29,529 31,305 40,047
 
          COMPOSITE FINANCIAL INDICATORS
 
Activity:
  1. Electric fixed asset (net plant) turnover 0.48 0.47 0.48 0.49 0.50 0.52 0.56 0.61
  2. Total asset turnover 0.37 0.37 0.34 0.34 0.35 0.36 0.37 0.36
 
Leverage:
  3. Current assets to current liabilities 1.00 0.95 0.87 0.86 0.88 0.88 0.92 0.94
  4. Long term debt to capitalization 49.28 48.91 48.51 48.09 47.49 47.19 48.37 49.11
  5. Preferred stock to capitalization 7.24 7.17 7.02 6.82 5.90 5.15 4.36 3.91
  6. Common stock equity to capitalization 43.48 43.91 44.47 45.10 46.61 47.66 47.27 46.99
  7. Total debt to total assets 36.69 36.13 32.48 32.35 31.89 31.57 32.23 32.00
  8  Common stock equity to total assets 31.11 30.88 28.29 28.63 29.45 29.95 29.76 28.78
  9. Interest coverage before taxes without AFUDC 2.49 2.62 2.78 3.10 3.37 3.36 3.33 3.37
 
Profitability:
  10. Profit margin 9.29 9.91 9.24 10.13 11.03 10.23 7.84 8.04
  11. Return on average common stock equity 11.33 11.94 22.32 12.24 13.17 12.31 9.67 10.10
  12. Return on investment 3.48 3.63 3.16 3.46 3.81 3.65 2.88 2.93


NA Not available.

Source: U.S. Energy Information Administration, Electric Power Annual. http://www.eia.doe.gov/bookshelf/electric.html



https://allcountries.org/uscensus/970_major_investor_owned_electric_utilities_balance.html

These tables are based on figures supplied by the United States Census Bureau, U.S. Department of Commerce and are subject to revision by the Census Bureau.

Copyright © 2006 Photius Coutsoukis and Information Technology Associates, all rights reserved.