APPENDIX
Carolina Power & Light Company
(ORGANIZED UNDER THE LAWS OF NORTH CAROLINA)
CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(NOT AUDITED BY INDEPENDENT AUDITORS)
SEPTEMBER 30, 1996
STATEMENTS OF INCOME
Three Months Ended Nine Months Ended Twelve Months Ended
September 30 September 30 September 30
(In thousands except for per share amounts) 1996 1995 1996 1995 1996 1995
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Operating Revenues $ 831,590 $ 875,500 $ 2,301,143 $ 2,285,703 $ 3,021,994 $ 2,924,969
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Operating Expenses
Operation - fuel 141,139 154,776 391,660 408,694 512,778 520,312
purchased power 108,621 110,538 320,298 309,334 420,904 403,796
other 116,967 133,841 368,066 400,025 509,488 539,609
Maintenance (Note 4) 79,156 45,206 170,820 143,314 224,091 200,591
Depreciation and amortization 94,283 91,415 280,169 272,586 372,110 359,094
Taxes other than on income 37,364 38,686 110,020 112,886 141,178 142,162
Income tax expense 82,123 99,424 226,390 193,782 291,832 228,574
Harris Plant deferred costs, net 7,812 7,174 20,201 20,957 27,372 27,638
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Total Operating Expenses 667,465 681,060 1,887,624 1,861,578 2,499,753 2,421,776
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Operating Income 164,125 194,440 413,519 424,125 522,241 503,193
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Other Income
Allowance for equity funds used during construction 4 774 2,226 2,671 2,905 2,984
Income tax credit 5,488 4,036 14,319 10,533 22,327 14,582
Harris Plant carrying costs 1,530 2,027 5,888 6,374 7,811 8,685
Interest income 689 2,058 2,864 7,427 4,117 8,265
Other income, net 2,374 5,523 14,372 13,794 9,642 19,786
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Total Other Income 10,085 14,418 39,669 40,799 46,802 54,302
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Income Before Interest Charges 174,210 208,858 453,188 464,924 569,043 557,495
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Interest Charges
Long-term debt 42,408 46,993 130,437 140,834 177,000 184,932
Other interest charges 3,833 11,288 15,738 22,327 19,307 25,055
Allowance for borrowed funds used
during construction (1,190) (1,328) (3,148) (4,137) (4,129) (4,267)
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Net Interest Charges 45,051 56,953 143,027 159,024 192,178 205,720
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Net Income 129,159 151,905 310,161 305,900 376,865 351,775
Preferred Stock Dividend Requirements (2,402) (2,402) (7,206) (7,206) (9,609) (9,609)
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Earnings for Common Stock $ 126,757 $ 149,503 $ 302,955 $ 298,694 $ 367,256 $ 342,166
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Average Common Shares Outstanding (Note 3) 143,738 146,161 143,724 146,867 143,881 146,952
Earnings per Common Share (Note 3) $ 0.88 $ 1.02 $ 2.11 $ 2.03 $ 2.55 $ 2.33
Dividends Declared per Common Share $ 0.455 $ 0.440 $ 1.365 $ 1.320 $ 1.820 $ 1.760
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See Supplemental Data and Notes to Financial Statements.