Carolina Power & Light Company
(ORGANIZED UNDER THE LAWS OF NORTH CAROL INA)
CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(NOT AUDITED BY INDEPENDENT AUDITORS)
JUNE 30, 1996
STATEMENTS OF INCOME
Three Months Ended Six Months Ended Twelve Months Ended
June 30 June 30 June 30
(In thousands except per share amounts) 1996 1995 1996 1995 1996 1995
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Operating Revenues $ 685,968 $ 681,965 $ 1,469,553 $ 1,410,203 $ 3,065,903 $ 2,855,021
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Operating Expenses
Operation - fuel 112,955 120,647 250,521 253,918 526,415 520,853
purchased power 105,688 105,137 211,677 198,796 422,822 395,741
other 128,743 139,106 251,099 266,184 526,361 536,073
Maintenance 44,620 57,353 91,664 98,108 190,142 194,105
Depreciation and amortization 93,408 90,896 185,886 181,171 369,242 364,703
Taxes other than on income 34,092 35,280 72,656 74,200 142,499 140,473
Income tax expense 67,172 32,942 144,267 94,358 309,134 211,583
Harris Plant deferred costs, net 4,324 7,178 12,389 13,783 26,735 26,940
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Total Operating Expenses 591,002 588,539 1,220,159 1,180,518 2,513,350 2,390,471
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Operating Income 94,966 93,426 249,394 229,685 552,553 464,550
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Other Income
Allowance for equity funds used during construction 1,187 984 2,222 1,897 3,675 3,870
Income tax credit 4,418 3,207 8,831 6,497 20,875 13,432
Harris Plant carrying costs 2,549 2,128 4,358 4,347 8,308 9,055
Interest income 1,041 2,781 2,175 5,369 5,486 8,536
Other income, net 5,799 4,250 11,998 8,271 12,795 19,846
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Total Other Income 14,994 13,350 29,584 26,381 51,139 54,739
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Income Before Interest Charges 109,960 106,776 278,978 256,066 603,692 519,289
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Interest Charges
Long-term debt 43,353 47,248 88,029 93,841 181,585 183,767
Other interest charges 4,993 5,011 11,905 11,039 26,763 19,420
Allowance for borrowed funds used
during construction (1,042) (1,445) (1,958) (2,809) (4,267) (4,021)
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Net Interest Charges 47,304 50,814 97,976 102,071 204,081 199,166
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Net Income 62,656 55,962 181,002 153,995 399,611 320,123
Preferred Stock Dividend Requirements (2,402) (2,402) (4,804) (4,804) (9,609) (9,609)
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Earnings for Common Stock $ 60,254 $ 53,560 $ 176,198 $ 149,191 $ 390,002 $ 310,514
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Average Common Shares Outstanding (Note 3) 143,808 147,183 143,716 147,226 144,490 147,772
Earnings per Common Share (Note 3) $ 0.42 $ 0.36 $ 1.23 $ 1.01 $ 2.70 $ 2.10
Dividends Declared per Common Share $ 0.455 $ 0.440 $ 0.910 $ 0.880 $ 1.805 $ 1.745
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See Supplemental Data and Notes to Financial Statements.