UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM U-3A2
December 31, 2001
Statement by Holding Company Claiming Exemption under Rule U-3a-2 from the
provisions of the Public Utility Holding Company Act of 1935
ALASKA POWER & TELEPHONE COMPANY
--------------------------------------------------------------------------------
(Name of Company)
hereby files with the Securities Exchange Commission, pursuant to Rule 2, its
statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, State of organization, location and nature of business of claimant
and every subsidiary thereof, other than any exempt wholesale generator
(EWG) or foreign utility company in which claimant directly or indirectly
holds an interest.
2. A brief description of the properties of claimant and each of its
subsidiary public utility companies used for the generation,
transmission, and distribution of electric energy for sale, or for the
production, transmission and distribution of natural or manufactured gas,
indicating the location of principal generating plants, transmission
lines, producing fields, gas manufacturing plants, and electric and gas
distribution facilities, including all such properties which are outside
the State in which claimant and its subsidiaries are organized and all
transmission or pipelines which deliver or receive electric energy or gas
at the borders of such State.
3. The following information for the last calendar year with respect to
claimant and each of its subsidiary public utility companies:
(a) Number of kWh. Of electric energy sold (at retail or wholesale) and
Mcf. Of natural or manufactured gas distributed at retail.
(b) Number of kWh. of electric energy and Mfc. Of natural or manufactured
gas distributed at retail outside the State in which each company is
organized.
(c) Number of kWh. Of electric energy and MCF. OF NATURAL OR MANUFACTURED
AS SOLD AT WHOLESALE OUTSIDE THE State in which each such company is
organized, or at the State line.
(d) Number of kWh. Of electric energy and Mcf. Of natural or manufactured
gas purchased outside the State in which each such company is
organized or at the State line.
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States
dollars:
1
(a) Name, location, business address and description of the facilities
used by the EWG or foreign utility company for the generation,
transmission and distribution of electric energy for sale or for the
distribution at retail of natural or manufactured gas.
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
(c) Type and amount of capital invested, directly or indirectly, by the
holding company claiming exemption; any direct or indirect guarantee
of the security of the EWG or foreign utility company by the holding
company claiming exemption; and any debt or other financial
obligation for which there is recourse, directly or indirectly, to
the holding company claiming exemption or another system company,
other than the EWG or foreign utility company.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number. SEC 1834 (2-97)
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
(e) Identify any service, sales or construction contract(s) between
the EWG or foreign utility company and a system company, and describe
the services to be rendered or goods sold and fees or revenues under
such agreement(s).
EXHIBIT A
A consolidating statement of income and surplus of the claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of claimant and its subsidiary companies as of the close of such
calendar year.
The above-named claimant has caused this statement to be duly executed on its
behalf by its authorized officer on this 7th day of May, 2002.
ALASKA POWER & TELEPHONE COMPANY
--------------------------------------------------------------------------------
Name of claimant
By Russell A. Smith
------------------
(title) VP/CONTROLLER
--------------
CORPORATE SEAL
Attest: HOWARD GARNER , EXECUTIVE VICE PRESIDENT
-----------------------------------------
Name, title, and address of officer to whom notices and correspondence
concerning this statement should be addressed:
ALASKA POWER & TELEPHONE COMPANY RUSSELL A. SMITH, VP/CONTROLLER
-------------------------------- --------------------------------
(Name) (Title)
P.O. BOX 3222, PORT TOWNSEND, WASHINGTON 98368
2
EXHIBIT B
Item No. Caption Heading Amount
1 Total Assets $121,767,421
2 Total Operating Revenues 10,453,876
3 Net Income 1,571,592
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding-company system.
3
ATTACHMENTS TO FORM U-3A-2
EXHIBIT C
1. Name of claimant is Alaska Power & Telephone Company (AP&T). AP&T operates as
a regulated public utility providing electric and/or telephone service. AP&T is
fully regulated by the Regulatory Commission of Alaska (RCA). AP&T is a Holding
Company with the following subsidiaries:
Electric Operations
Alaska Power Company - Serving the following communities in Alaska: Skagway,
Haines, Tok, Dot Lake, Chistochina, Mentasta Lake, Tetlin, Tanacross, Healy
Lake, Bettles/Evansville, Northway, Northway Village, Allakaket/Alatna,
Eagle, Eagle Village, Craig, Hydaburg, Hollis, Coffman Cove, Klawock, and
Whale Pass. (Retail and wholesale electric generation and distribution).
BBL Hydro, Inc. - Prince of Wales Island (wholesale hydroelectric generation).
Goat Lake Hydro, Inc. - Skagway (wholesale hydroelectric generation).
Telecommunication Operations
Alaska Telephone Company - Serving the following communities in Alaska: Skagway,
Tok, Dot Lake, Dry Creek, Tetlin, Chisana, Healy Lake, Craig, Hydaburg,
Hollis, Naukati, Whale Pass, Myers Chuck, Edna Bay, Metlakatla, Petersburg,
Wrangell, and Haines.
Bettles Telephone, Inc. - Serving; Bettles, Evansville and Jim River Camp.
North Country Telephone, Inc. - Serving; Eagle and Eagle Village.
AP&T Wireless Inc. - Serving; Ketchikan, Juneau and the surrounding areas.
AP&T Long Distance Inc. - Serving; Alaska communities
2.All public utility operations of AP&T are conducted solely within Alaska.
There is no natural gas activity. Diesel-powered generators and or
hydroelectric generation systems generate the electric service in each
location. There is no intertie to other electric systems or generation
sources.
3. (a) Number of kWh sold (by individual subsidiary):
Alaska Power Company 59,000,239 kWh retail
2,341,700 kWh wholesale
(b) None sold or distributed out of the state of Alaska.
(c) None sold or distributed out of the state of Alaska.
(d) None sold or distributed out of the state of Alaska.
4. There are no holdings directly or indirectly in an EWG. The following
subsidiary of AP&T holds an interest in a foreign hydroelectric generation
company.
Nonregulated Operations
HydroWest International ("HWI"), located in Cayman Islands, is a holding company
for offshore operations related to the HydroWest Group, providing engineering
and consulting services, primarily related to small hydroelectric power
projects. A 25% equity ownership share of Inversiones Pasabien, S.A. was
transferred from HWG to HWI in 2001.
(a) HWI, Ltd is a wholly-owned subsidiary of AP&T, equity was $4,090,394 at
12/31/2001
Hydro West Group, LLC. ("HWG") - Located in Port Townsend, Washington and
providing engineering and consulting services, primarily related to small
hydroelectric power projects. HWG transferred its 25% equity share of
Inversiones Pasabien, S.A. to HWI in 2001.
(a) Inversiones Pasabien, S.A. is a Guatemalan corporation located at 15
Avenida 16-38 Zona 13 in Guatemala City, Guatemala, CA. The company is
a 12.5 MW wholesale hydroelectric generation facility with an average
annual generation of 60,000 MW hours. The company's main customer is
the Guatemalan government owned distribution company INDE.
(b) Other unrelated companies owning a equity share in Inversiones
Pasabien, S.A. are as follows:
a. Valores Mercantiles, S.A. 50%
b. Ghella Sogene, C.A. 25%
(c) HWG, LLC is a wholly owned subsidiary of AP&T. AP&T's investment in
members' equity was $1,304,863 at December 31, 2001.
(d) The company's operations first began during 2000 and there were no
material earnings to be reported in that year.
(e) No contracts exist between the foreign company and any system company
as of 12/31/2001.
Exhibit A, attached, is the unaudited consolidating financial statements.
Alaska Power & Telephone Co.
Consolidated B/S
December 31, 2001
(Page 1 of 4)
(Parent)
APT ALD APC ATC ATW BBL
--- --- --- --- --- ---
ASSETS
Utility Plant:
Electric Plant 0 0 6,047,023 0 0 10,365,627
Telecommunications 0 0 0 30,856,503 1,463,283 0
Non-Utility Plant 4,973,618 0 0 0 0 0
------------- -------------- ------------- ------------- -------------- --------------
4,973,618 0 6,047,023 30,856,503 1,463,283 10,365,627
Less: Accum. Depreciation -1,658,579 0 6,274,853 -12,890,774 -468,882 -1,355,970
------------- -------------- ------------- ------------- -------------- --------------
3,315,039 0 9,772,170 17,965,729 994,401 9,009,657
Utility Plant Under Construction:
Short Term CWIP 517,118 0 598,247 683,467 5,317 46,115
------------- -------------- ------------- ------------- -------------- --------------
Total Utility Plant 3,832,157 0 0,370,417 18,649,195 999,718 9,055,773
Other Assets:
Prelim Survey/Investigation Costs 99,078 0 735,970 0 0 0
Investments and Other 2,818,829 2,349 270,182 92,966 3,806 118,957
Investment Hydro West Int. 0 0 0 0 0 0
Investment Summit AK 1,399,990 0 0 0 0 0
Rate Stabilization Asset 0 0 0 0 0 0
Goodwill, Net of Amortization 715,662 0 0 8,550,741 0 0
GLH Special Funds - Restricted 0 0 0 0 0 0
------------- -------------- ------------- ------------- -------------- --------------
Total Other Assets 34,814,500 -91,469 4,478,091 -7,050,969 -734,624 997,806
Current Assets:
Cash 271,874 0 48,982 35,611 1,765 0
Accounts Rec. - Trade and Other 516,565 0 1,254,003 1,510,908 147,030 0
Accounts Rec. - Summit 6,390,568 0 0 0 0 0
Contracts Receivable 0 0 0 0 0 0
Inventory and Other Assets 383,373 0 711,901 273,547 282,950 0
Income Taxes Recoverable 916,578 0 0 0 0 0
------------- -------------- ------------- ------------- -------------- --------------
Total Current Assets 8,478,958 0 2,014,886 1,820,066 431,744 0
------------- -------------- ------------- ------------- -------------- --------------
Total Assets 47,125,615 -91,469 7,907,212 13,418,292 696,839 10,053,579
============= ============== ============= ============= ============== ==============
APT Alaska Power & Telephone Company
ALD AP&T Long Distance
APC Alaska Power Company
ATC Alaska Telephone Company
ATW AP&T Wireless, Inc.
BBL BBL Hydro, Inc.
BTT Bettles Telephone, Inc.
GLH Goat Lake Hydro, Inc.
HWI HydroWest International
HWG Hydro West Group, LLC
NCT North Country Telephone, Inc.
Alaska Power & Telephone Co.
Consolidated B/S
December 31, 2001
(Page 2 of 4)
(Parent)
APT ALD APC ATC ATW BBL
--- --- --- --- --- ---
LIABILITIES AND STOCKHOLDERS' EQUITY
Stockholders' Equity:
Common Stock 1,239,717 0 0 0 0 0
Additional Paid in Capital 6,869,345 0 0 0 0 0
Retained Earnings 13,182,967 0 0 0 0 0
Net Income (Loss) -1,794,235 21,103 1,598,749 1,487,734 -213,569 194,353
------------- -------------- ------------- ------------- -------------- --------------
Total Equity 13,978,915 -91,469 15,235,560 11,514,723 557,333 1,014,830
Liabilities:
Line of Credit 10,700,000 0 0 0 0 0
Hydro Debt 0 0 0 0 0 7,503,531
Other 48,242,690 0 0 0 0 0
------------- -------------- ------------- ------------- -------------- --------------
Total Long Term Debt 58,942,690 0 0 0 0 7,503,531
Other Liabilities:
L-T Deferred Income Taxes 475,469 0 2,291,610 1,819,949 92,646 1,436,372
Other Deferred Credits 0 0 211,498 -194,839 35,655 0
------------- -------------- ------------- ------------- -------------- --------------
Total Other Liabilities 475,469 0 2,503,108 1,625,110 128,301 1,436,372
Curent Liabilities:
Accounts Payable and Accruals 1,769,689 0 130,857 160,417 12,558 98,846
Custom Deposits/Advance Billings 0 0 57,467 148,820 0 0
Current Deferred Income Tax -83,318 0 -19,780 -30,778 -1,353 0
------------- -------------- ------------- ------------- -------------- --------------
Total Current Liabilities 1,686,371 0 168,545 278,459 11,205 98,846
Total Liabilities and
Stockholders' Equity 47,125,615 -91,469 17,907,212 13,418,292 696,839 10,053,579
============= ============== ============= ============= ============== ==============
Alaska Power & Telephone Co.
Consolidated B/S
December 31, 2001
(Page 3 of 4)
BTT GLH HDW HWI NCT Total
--- --- --- --- --- ---
ASSETS
Utility Plant: 0 17,018,096 0 0 0 73,430,746
Electric Plant 782,672 0 0 0 363,733 33,466,191
Telecommunications 0 0 63,504 41,097 0 5,078,219
Non-Utility Plant 782,672 17,018,096 63,504 41,097 363,733 111,975,155
------------- -------------- ------------- ------------- -------------- --------------
-479,464 -1,074,083 -56,345 -7,518 -160,234 -34,426,701
Less: Accum. Depreciation 303,208 15,944,013 7,159 33,579 203,499 77,548,454
------------- -------------- ------------- ------------- -------------- --------------
-3 7,000 71,860 214,825 72 2,144,018
Utility Plant Under Construction:
Short Term CWIP
------------- -------------- ------------- ------------- -------------- --------------
Total Utility Plant 303,205 15,951,013 79,018 248,404 203,571 79,692,472
Other Assets: 0 424,337 0 605,759 0 1,865,144
Prelim Survey/Investigation Costs 0 499,780 0 0 0 3,806,868
Investments and Other 0 0 0 3,186,157 0 3,186,157
Investment Hydro West Int. 0 0 0 0 0 1,399,990
Investment Summit AK 0 1,215,888 0 0 0 1,215,888
Rate Stabilization Asset 0 0 0 0 0 9,266,403
Goodwill, Net of Amortization 0 6,477,231 0 0 0 6,477,231
GLH Special Funds - Restricted
------------- -------------- ------------- ------------- -------------- --------------
Total Other Assets -48,167 9,700,240 147,352 3,791,917 169,188 27,217,682
Current Assets: 0 0 0 43,598 -32 401,798
Cash 39,002 803,699 141,493 60,478 35,579 4,508,756
Accounts Rec. - Trade and Other 0 0 0 0 0 6,390,568
Accounts Rec. - Summit 0 0 937,000 0 0 937,000
Contracts Receivable 1,220 0 0 41,210 280 1,694,480
Inventory and Other Assets 0 0 0 8,085 0 924,663
Income Taxes Recoverable
------------- -------------- ------------- ------------- -------------- --------------
Total Current Assets 40,221 803,699 1,078,492 153,372 35,827 14,857,266
------------- -------------- ------------- ------------- -------------- --------------
Total Assets 295,259 26,454,953 1,304,862 4,193,692 408,587 121,767,421
============= ============== ============= ============= ============== ==============
Alaska Power & Telephone Co.
Consolidated B/S
December 31, 2001
(Page 4 of 4)
BTT GLH HDW HWI NCT Total
--- --- --- --- --- ---
LIABILITIES AND STOCKHOLDERS' EQUITY
Stockholders' Equity: 0 0 0 0 0 1,239,717
Common Stock 0 0 0 0 0 6,869,345
Additional Paid in Capital 0 0 0 0 0 13,182,967
Retained Earnings -8,654 229,017 -21,627 49,959 28,763 1,571,592
Net Income (Loss)
263,893 2,583,838 1,304,863 4,090,394 368,570 22,863,621
Total Equity
Liabilities: 0 0 0 0 0 10,700,000
Line of Credit 0 21,700,989 0 0 0 29,204,520
Hydro Debt 0 0 0 0 0 48,242,690
Other
0 21,700,989 0 0 0 88,147,210
Total Long Term Debt
Other Liabilities: 24,732 2,162,375 0 0 36,033 8,339,186
L-T Deferred Income Taxes -816 0 0 0 -662 50,835
Other Deferred Credits
23,916 2,162,375 0 0 35,371 8,390,021
Total Other Liabilities
Curent Liabilities: 3,301 7,750 0 103,298 1,246 2,287,963
Accounts Payable and Accruals 4,225 0 0 0 3,427 213,939
Custom Deposits/Advance Billings -76 0 0 0 -28 -135,333
Current Deferred Income Tax
7,450 7,750 0 103,298 4,645 2,366,569
Total Current Liabilities
Total Liabilities and 295,259 26,454,953 1,304,862 4,193,692 408,587 121,767,421
Stockholders' Equity
ALASKA POWER & TELEPHONE COMPANY
Consolidated I/S
For the Twelve Months Ending December 31, 2001
(Page 1 of 6)
(Parent)
APT ALD APC ATC ATW BBL BTT
---------- ---------- ---------- ---------- ---------- ---------- ----------
ELECTRIC
Revenues 0 0 12,925,959 0 0 0 0
Fuel 0 0 -1,793,612 0 0 0 0
Purchased Power 0 0 -56,296 0 0 0 0
Interco Purchased Pwr 0 0 -2,898,592 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Revenues 0 0 8,177,459 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Expenses
NonFuel 0 0 2,671,613 0 0 0 0
Depreciation 0 0 1,782,804 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 0 4,454,417 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 3,723,042 0 0 0 0
========== ========== ========== ========== ========== ========== ==========
HYDRO ELECTRIC
Revenues 0 0 0 0 0 1,483,942 0
Operating Expenses
NonFuel 0 0 0 0 0 342,109 0
Depreciation 0 0 0 0 0 215,560 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 0 0 0 0 557,669 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 0 0 926,274 0
========== ========== ========== ========== ========== ========== ==========
REGULATED TELEPHONE
Revenues 0 0 0 13,232,287 0 0 360,441
Operating Expenses
Operating 0 0 0 6,704,476 0 0 204,695
Depreciation 0 0 0 2,586,713 0 0 58,593
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 0 0 9,291,188 0 0 263,288
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 3,941,099 0 0 97,153
========== ========== ========== ========== ========== ========== ==========
APT Alaska Power & Telephone Company
ALD AP&T Long Distance
APC Alaska Power Company
ATC Alaska Telephone Company
ATW AP&T Wireless, Inc.
BBL BBL Hydro, Inc.
BTT Bettles Telephone, Inc.
GLH Goat Lake Hydro, Inc.
HWI HydroWest International
HWG Hydro West Group, LLC
NCT North Country Telephone, Inc.
ALASKA POWER & TELEPHONE COMPANY
Consolidated I/S
For the Twelve Months Ending December 31, 2001
(Page 2 of 6)
(Parent)
APT ALD APC ATC ATW BBL BTT
---------- ---------- ---------- ---------- ---------- ---------- ----------
NON-REG TELEPHONE
Revenues 0 651,809 0 0 695,686 0 0
Less: COGS 0 559,701 0 0 240,272 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Revenues 0 92,108 0 0 455,414 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Expenses
Non-Regulated Operating 0 29,262 0 0 436,379 0 0
Depreciation 0 0 0 0 132,736 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 29,262 0 0 569,115 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 62,847 0 0 -113,701 0 0
========== ========== ========== ========== ========== ========== ==========
HYDRO WEST GROUP
Contract Revenues 0 0 0 0 0 0 0
Less: Contract Costs 0 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Gross Profit 0 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Expenses
Operations 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 0 0 0 0
(Gain)/Loss on Investments 0 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Income / (Loss) 0 0 0 0 0 0 0
========== ========== ========== ========== ========== ========== ==========
TREELINE CONSTRUCTION
Less: Contract Costs 256 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) -256 0 0 0 0 0 0
========== ========== ========== ========== ========== ========== ==========
SUMMIT ALASKA - Mgmt / Inv
Management Revenues 241,148 0 0 0 0 0 0
Less: Managment Cost 240,770 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 378 0 0 0 0 0 0
(Gain)/Loss on Investments -234,386 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Income / (Loss) 234,763 0 0 0 0 0 0
========== ========== ========== ========== ========== ========== ==========
ALASKA POWER & TELEPHONE COMPANY
Consolidated I/S
For the Twelve Months Ending December 31, 2001
(Page 3 of 6)
(Parent)
APT ALD APC ATC ATW BBL BTT
---------- ---------- ---------- ---------- ---------- ---------- ----------
BUSINESS DEVELOPMENT - SEALINK
Less: Managment Cost -18,534 0 0 0 0 0 0
- - -
Operating Income / (Loss) 18,534 0 0 0 0 0 0
========== ========== ========== ========== ========== ========== ==========
COMBINED SEGMENTS
Operating Income / (Loss) 253,042 62,847 3,723,042 3,941,099 -113,701 926,274 97,153
Interest (Income) -256,535 0 0 0 0 0 0
Interest Expense 2,615,047 0 0 0 0 562,330 0
AFUDC -94,230 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Interest Expense 2,264,282 0 0 0 0 562,330 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Miscellaneous (Income)/Expense 114,068 0 0 0 0 -24,000 0
Net Corporate Allocated Costs 0 33,307 1,485,161 1,858,614 185,247 115,894 109,267
(Gain)/Loss on Investments 364,530 0 0 0 0 0 0
Income Taxes -695,602 8,437 639,132 594,751 -85,379 77,697 -3,460
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total Other (Inc)/Exp -217,004 41,744 2,124,293 2,453,365 99,868 169,591 105,807
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Income / (Loss) -1,794,235 21,103 1,598,749 1,487,734 -213,569 194,353 -8,654
========== ========== ========== ========== ========== ========== ==========
ALASKA POWER & TELEPHONE COMPANY
Consolidated I/S
For the Twelve Months Ending December 31, 2001
(Page 4 of 6)
Consolidated
GLH HDW HWI NCT Total
---------- ---------- ---------- ---------- ----------
ELECTRIC
Revenues 0 0 0 0 12,925,959
Fuel 0 0 0 0 -1,793,612
Purchased Power 0 0 0 0 -56,296
Interco Purchased Pwr 0 0 0 0 -2,898,592
---------- ---------- ---------- ---------- ----------
Net Revenues 0 0 0 0 8,177,459
---------- ---------- ---------- ---------- ----------
Operating Expenses
NonFuel 0 0 0 0 2,671,613
Depreciation 0 0 0 0 1,782,804
---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 0 0 0 4,454,417
---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 0 3,723,042
========== ========== ========== ========== ==========
HYDRO ELECTRIC
Revenues 1,870,096 0 0 0 3,354,038
Operating Expenses
NonFuel 237,015 0 0 0 579,124
Depreciation 358,295 0 0 0 573,855
---------- ---------- ---------- ---------- ----------
Total Operating Expenses 595,310 0 0 0 1,152,979
---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 1,274,785 0 0 0 2,201,059
========== ========== ========== ========== ==========
REGULATED TELEPHONE
Revenues 0 0 0 268,240 13,860,968
Operating Expenses
Operating 0 0 0 101,338 7,010,508
Depreciation 0 0 0 27,768 2,673,074
---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 0 0 129,106 9,683,582
---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 139,134 4,177,386
========== ========== ========== ========== ==========
ALASKA POWER & TELEPHONE COMPANY
Consolidated I/S
For the Twelve Months Ending December 31, 2001
(Page 5 of 6)
Consolidated
GLH HDW HWI NCT Total
---------- ---------- ---------- ---------- ----------
NON-REG TELEPHONE
Revenues 0 0 0 0 1,347,494
Less: COGS 0 0 0 0 799,973
---------- ---------- ---------- ---------- ----------
Net Revenues 0 0 0 0 547,522
---------- ---------- ---------- ---------- ----------
Operating Expenses
Non-Regulated Operating 0 0 0 0 465,640
Depreciation 0 0 0 0 132,736
---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 0 0 0 598,376
---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 0 -50,854
========== ========== ========== ========== ==========
HYDRO WEST GROUP
Contract Revenues 0 954,731 108,528 0 1,063,259
Less: Contract Costs 0 609,073 0 0 609,073
---------- ---------- ---------- ---------- ----------
Gross Profit 0 345,658 108,528 0 454,186
---------- ---------- ---------- ---------- ----------
Operating Expenses
Operations 0 349,629 102,819 0 452,448
Depreciation 0 847 27,797 0 28,644
---------- ---------- ---------- ---------- ----------
Total Operating Expenses 0 350,476 130,616 0 481,091
---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 -4,817 -22,088 0 -26,905
(Gain)/Loss on Investments 0 -107,242 -69,865 0 -177,107
---------- ---------- ---------- ---------- ----------
Net Income / (Loss) 0 102,425 47,777 0 150,202
========== ========== ========== ========== ==========
TREELINE CONSTRUCTION
Less: Contract Costs 0 0 0 0 256
---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 0 -256
========== ========== ========== ========== ==========
SUMMIT ALASKA - Mgmt / Inv
Management Revenues 0 0 0 0 241,148
Less: Managment Cost 0 0 0 0 240,770
---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 0 378
(Gain)/Loss on Investments 0 0 0 0 -234,386
---------- ---------- ---------- ---------- ----------
Net Income / (Loss) 0 0 0 0 234,763
========== ========== ========== ========== ==========
ALASKA POWER & TELEPHONE COMPANY
Consolidated I/S
For the Twelve Months Ending December 31, 2001
(Page 6 of 6)
Consolidated
GLH HDW HWI NCT Total
---------- ---------- ---------- ---------- ----------
BUSINESS DEVELOPMENT - SEALINK
Less: Managment Cost 0 0 0 0 -18,534
---------- ---------- ---------- ---------- ----------
Operating Income / (Loss) 0 0 0 0 18,534
========== ========== ========== ========== ==========
COMBINED SEGMENTS
Operating Income / (Loss) 1,274,785 102,425 47,777 139,134 10,453,876
Interest (Income) -391,311 -2,010 -2,182 0 -652,038
Interest Expense 1,365,905 0 0 0 4,543,282
AFUDC 0 0 0 0 -94,230
---------- ---------- ---------- ---------- ----------
Net Interest Expense 974,595 -2,010 -2,182 0 3,797,014
---------- ---------- ---------- ---------- ----------
Miscellaneous (Income)/Expense -102,355 0 0 0 -12,287
Net Corporate Allocated Costs 81,975 131,045 0 98,873 4,099,382
(Gain)/Loss on Investments 0 0 0 0 364,530
Income Taxes 91,554 -4,983 0 11,498 633,645
---------- ---------- ---------- ---------- ----------
Total Other (Inc)/Exp 71,174 126,062 0 110,371 5,085,270
---------- ---------- ---------- ---------- ----------
Net Income / (Loss) 229,017 -21,627 49,959 28,763 1,571,592
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