Carolina Power & Light Company
(ORGANIZED UNDER THE LAWS OF NORTH CAROLINA)
CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(NOT AUDITED BY INDEPENDENT AUDITORS)
SEPTEMBER 30, 1995
STATEMENTS OF INCOME
Three Months Ended Nine Months Ended Twelve Months Ended
(In thousands September 30 September 30 September 30
except per share amounts) 1995 1994 1995 1994 1995 1994
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Operating Revenues $ 875,500 $ 805,552 $ 2,285,703 $ 2,237,323 $ 2,924,969 $ 2,895,880
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Operating Expenses
Operation - fuel for generation 163,459 126,692 401,577 378,109 495,436 501,291
deferred fuel cost (credit), net (8,683) 28,626 7,117 20,411 24,876 13,965
purchased power 110,538 102,483 309,334 319,838 403,796 415,615
other 133,841 130,305 400,025 400,375 539,609 534,913
Maintenance 45,206 38,719 143,314 149,455 200,591 210,962
Depreciation and amortization 91,415 97,025 272,586 311,227 359,094 417,892
Taxes other than on income 38,686 36,997 112,886 109,264 142,162 147,416
Income tax expense 99,424 82,433 193,782 163,743 228,574 184,345
Harris Plant deferred costs, net 7,174 6,476 20,957 19,648 27,638 30,515
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Total Operating Expenses 681,060 649,756 1,861,578 1,872,070 2,421,776 2,456,914
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Operating Income 194,440 155,796 424,125 365,253 503,193 438,966
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Other Income (Expense)
Allowance for equity funds used during construction 774 1,660 2,671 5,761 2,984 8,330
Income tax credit 4,036 2,886 10,533 5,375 14,582 8,575
Harris Plant carrying costs 2,027 2,398 6,374 7,443 8,685 22,904
Interest income 2,058 2,329 7,427 13,731 8,265 18,990
Other income, net 5,523 5,586 13,794 19,601 19,786 32,115
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Total Other Income 14,418 14,859 40,799 51,911 54,302 90,914
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Income Before Interest Charges 208,858 170,655 464,924 417,164 557,495 529,880
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Interest Charges
Long-term debt 46,993 45,828 140,834 139,793 184,932 186,563
Other interest charges 11,288 5,655 22,327 13,392 25,055 17,163
Allowance for borrowed funds used
during construction (1,328) (1,081) (4,137) (3,313) (4,267) (5,010)
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Net Interest Charges 56,953 50,402 159,024 149,872 205,720 198,716
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Net Income 151,905 120,253 305,900 267,292 351,775 331,164
Preferred Stock Dividend Requirements (2,402) (2,402) (7,206) (7,206) (9,609) (9,609)
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Earnings for Common Stock $ 149,503 $ 117,851 $ 298,694 $ 260,086 $ 342,166 $ 321,555
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Average Common Shares
Outstanding (Note 3) 146,161 149,416 146,867 150,426 146,952 153,025
Earnings per Common Share (Note 3) $ 1.02 $ 0.79 $ 2.03 $ 1.73 $ 2.33 $ 2.10
Dividends Declared per Common Share $ 0.440 $ 0.425 $ 1.320 $ 1.275 $ 1.760 $ 1.700
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See Supplemental Data and Notes to Financial Statements.