Form U-13-60 |
ANNUAL REPORT For the Period Beginning January 1, 2002 and Ending December 31, 2002 |
TO THE U.S. SECURITIES AND EXCHANGE COMMISSION OF PHI Service Company A Subsidiary Service Company |
Date of Incorporation: January 16, 1998 |
State or Sovereign Power under which Incorporated or Organized: Delaware |
Location of Principal Executive Offices of Reporting Company: 800 King Street |
Name, title, and address of officer to whom correspondence concerning this James P. Lavin, Controller |
Name of Principal Holding Company Whose Subsidiaries are served Pepco Holdings, Inc./Conectiv |
INSTRUCTIONS FOR USE OF FORM U-13-60 |
|
1. |
TIME OF FILING. Rule 94 provides that on or before the first day of May in each calendar year, each mutual service company and each subsidiary service company as to which the Commission shall have made a favorable finding pursuant to Rule 88, and every service company whose application for approval or declaration pursuant to Rule 88 is pending shall file with the Commission an annual report on Form U-13-60 and in accordance with the Instructions for that form. |
2. |
NUMBER OF COPIES. Each annual report shall be filed in duplicate. The company should prepare and retain at least one extra copy for itself in case correspondence with reference to the report becomes necessary. |
3. |
PERIOD COVERED BY REPORT. The first report filed by any company shall cover the period from the date the Uniform System of Accounts was required to be made effective as to that company under Rules 82 and 93 to the end of that calendar year. Subsequent reports should cover a calendar year. |
4. |
REPORT FORMAT. Reports shall be submitted on the forms prepared by the Commission. If the space provided on any sheet of such form is inadequate, additional sheets may be inserted of the same size as a sheet of the form or folded to such size. |
5. |
MONEY AMOUNTS DISPLAYED. All money amounts required to be shown in financial statements may be expressed in whole dollars, in thousands of dollars or in hundred thousands of dollars, as appropriate and subject to provisions of Regulation S-X (Section 210.3-01(c)). |
6. |
DEFICITS DISPLAYED. Deficits and other like entries shall be indicated by the use of either brackets or a parenthesis with corresponding reference in footnotes. (Regulation S-X, Section 210.3-01 (c)). |
7. |
MAJOR AMENDMENTS OR CORRECTIONS. Any company desiring to amend or correct a major omission or error in a report after it has been filed with the Commission shall submit an amended report including only those pages, schedules, and entries that are to be amended or corrected. A cover letter shall be submitted requesting the Commission to incorporate the amended report changes and shall be signed by a duly authorized officer of the company. |
8. |
DEFINITIONS. Definitions contained in Instruction 01-8 to the Uniform System of Accounts for Mutual Service Companies and Subsidiary Service Companies, Public Utility Holding Company Act of 1935, as amended February 2, 1979 shall be applicable to words or terms used specifically within this Form U-13-60. |
9. |
ORGANIZATION CHART. The service company shall submit with each annual report a copy of its current organization chart. |
10. |
METHODS OF ALLOCATION. The service company shall submit with each annual report a listing of the currently effective methods of allocation being used by the service company and on file with the Securities and Exchange Commission pursuant to the Public Utility Holding Company Act of 1935. |
11. |
ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED. The service company shall submit with each annual report a copy of the annual statement supplied to each associate company in support of the amount of compensation for use of capital billed during the calendar year. |
12. |
ELECTRONIC FILERS. Electronic filers are subject to Regulation S-T and the EDGAR Filer Manual. Any rule or instruction therein shall be controlling unless otherwise specifically provided in rules or instructions pertaining to the submission format documents. |
Data that appears in tabular or columnar format shall be marked as prescribed in the EDGAR Filer Manual. |
|
Signatures shall be in typed form rather than manual format. See rule 13 of Regulation S-T. |
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNT |
||||
Description of Schedules and Accounts |
Schedule or Account Number |
Page Number |
||
COMPARATIVE BALANCE SHEET |
Schedule |
I |
4-5 |
|
|
Service Company Property |
Schedule |
II |
6-7 |
Accumulated Provision for Depreciation and Amortization of Service Company Property |
Schedule |
III |
8 |
|
Investments |
Schedule |
IV |
9 |
|
Accounts Receivable from Associate Companies |
Schedule |
V |
10-10a |
|
Fuel Stock Expenses Undistributed |
Schedule |
VI |
11 |
|
Stores Expense Undistributed |
Schedule |
VII |
12 |
|
Miscellaneous Current and Accrued Assets |
Schedule |
VIII |
13 |
|
Miscellaneous Deferred Debits |
Schedule |
IX |
14 |
|
Research, Development, or Demonstration Expenditures |
Schedule |
X |
15 |
|
Proprietary Capital |
Schedule |
XI |
16 |
|
Long-Term Debt |
Schedule |
XII |
17 |
|
Current and Accrued Liabilities |
Schedule |
XIII |
18 |
|
Notes to Financial Statements |
Schedule |
XIV |
19-20 |
|
COMPARATIVE STATEMENT OF INCOME |
Schedule |
XV |
21 |
|
Analysis of Billing - Associate Companies |
Account |
457 |
22 |
|
Analysis of Billing - Non associate Companies |
Account |
458 |
23 |
|
Analysis of Charges for Service - Associate and Non associate Companies |
Schedule |
XVI |
24 |
|
Schedule of Expense by Department or Service Function |
Schedule |
XVII |
25-27 |
|
Departmental Analysis of Salaries |
Account |
920 |
28-29 |
|
Outside Services Employed |
Account |
923 |
30-32 |
|
Employee Pensions and Benefits |
Account |
926 |
33 |
|
General Advertising Expenses |
Account |
930.1 |
34 |
|
Miscellaneous General Expenses |
Account |
930.2 |
35 |
|
Rents |
Account |
931 |
36 |
|
Taxes Other Than Income Taxes |
Account |
408 |
37 |
|
Donations |
Account |
426.1 |
38 |
|
Other Deductions |
Account |
426.5 |
39 |
|
Notes to Statement of Income |
Schedule |
XVIII |
40 |
|
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS |
||||
Description of Reports or Statements |
||||
ORGANIZATION CHART |
41 |
|||
METHODS OF ALLOCATION |
42-47 |
|||
ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED |
48 |
|||
SIGNATURE |
49 |
ANNUAL REPORT OF: PHI Service Company SCHEDULE I - COMPARATIVE BALANCE SHEET Give balance sheet of the Company as of December 31 |
|||||
Account |
Assets and Other Debits |
As of |
|||
Current |
Prior |
||||
(In Thousands) |
|||||
SERVICE COMPANY PROPERTY |
|||||
101 |
Service Company Property (Schedule II) |
$ 84,759 |
$ 84,571 |
||
107 |
Construction work in progress (Schedule II) |
- |
|
- |
|
Total Property |
$ 84,759 |
|
$ 84,759 |
||
108 |
Less accumulated provision for depreciation and amortization of service company property (Schedule III) |
$ 41,144 |
|
$ 28,507 |
|
Net Service Company Property |
$ 43,615 |
|
$ 56,064 |
||
INVESTMENTS |
|||||
121 |
Nonutility Property |
$ 890 |
$ 2,232 |
||
123 |
Investments in associate companies (Schedule IV) |
- |
- |
||
124 |
Other investments (Schedule IV) |
- |
- |
||
128 |
Special Funds |
23,684 |
|
4,238 |
|
Total Investments |
$ 24,574 |
|
$ 6,470 |
||
CURRENT AND ACCRUED ASSETS |
|||||
131 |
Cash |
$ (54) |
$ 25 |
||
134 |
Special deposits |
- |
- |
||
135 |
Working funds |
83 |
115 |
||
136 |
Temporary cash investments (Schedule IV) |
- |
- |
||
141 |
Notes receivable |
- |
- |
||
143 |
Accounts receivable |
1,535 |
1,900 |
||
144 |
Accumulated provision for uncollectible accounts |
- |
- |
||
146 |
Accounts receivable from associate companies (Schedule V and XIV) |
30,396 |
18,299 |
||
152 |
Fuel stock expenses undistributed (Schedule VIII) |
- |
- |
||
154 |
Materials and supplies |
- |
- |
||
163 |
Stores expense undistributed (Schedule VII) |
- |
- |
||
165 |
Prepayments |
6,501 |
1,015 |
||
171 |
Interest and Dividends Receivable |
- |
- |
||
174 |
Miscellaneous current and accrued assets (Schedule VIII) |
- |
|
- |
|
Total Current and Accrued Assets |
$ 38,461 |
|
$ 21,354 |
||
DEFERRED DEBITS |
|||||
181 |
Unamortized debt expense |
$ - |
$ - |
||
183 |
Preliminary Survey and Investigation |
- |
- |
||
184 |
Clearing accounts |
2 |
10 |
||
186 |
Miscellaneous deferred debits (Schedule IX) |
3,524 |
4,053 |
||
188 |
Research, development, or demonstration expenditures (Schedule X) |
- |
- |
||
190 |
Accumulated deferred income taxes |
1,036 |
|
565 |
|
Total Deferred Debits |
$ 4,562 |
|
$ 4,628 |
||
TOTAL ASSETS AND OTHER DEBITS |
$ 111,212 |
|
$ 88,516 |
ANNUAL REPORT OF: PHI Service Company SCHEDULE I - COMPARATIVE BALANCE SHEET |
|||||
Account |
Assets and Other Debits |
As of |
|||
Current |
Prior |
||||
(In Thousands) |
|||||
PROPRIETARY CAPITAL |
|||||
201 |
Common stock issued (Schedule XI) |
$ 1 |
$ 1 |
||
211 |
Miscellaneous paid-in-capital (Schedule XI) |
- |
- |
||
215 |
Appropriated retained earnings (Schedule XI) |
- |
- |
||
216 |
Unappropriated retained earnings (Schedule XI) |
(492) |
|
37 |
|
Total Proprietary Capital |
$ (491) |
|
$ 38 |
||
LONG - TERM DEBT |
|||||
223 |
Advances from associate companies (Schedule XII) |
$ - |
$ - |
||
224 |
Other long-term debt (Schedule XII) |
- |
- |
||
225 |
Unamortized premium on long-term debt |
- |
- |
||
226 |
Unamortized discount on long-term debt |
- |
|
- |
|
Total Long - Term Debt |
$ - |
|
$ - |
||
CURRENT AND ACCRUED LIABILITIES |
|||||
184 |
Clearing accounts |
$ 8 |
$ (12) |
||
231 |
Notes payable |
- |
- |
||
232 |
Accounts payable |
8,323 |
7,102 |
||
233 |
Notes payable to associate companies (Schedule XIII and XIV) |
41,617 |
42,316 |
||
234 |
Accounts payable to associate companies (Schedule XIII and XIV) |
- |
- |
||
236 |
Taxes accrued |
697 |
(1,326) |
||
237 |
Interest accrued |
62 |
60 |
||
238 |
Dividends declared |
- |
- |
||
241 |
Tax collections payable |
14 |
10 |
||
242 |
Miscellaneous current and accrued liabilities (Schedule XIII) |
50,715 |
|
30,103 |
|
Total Current and Accrued Liabilities |
$ 101,436 |
|
$ 78,254 |
||
DEFERRED CREDITS |
|||||
253 |
Other deferred credits |
$ - |
$ - |
||
254 |
Other regulatory liabilities |
- |
- |
||
255 |
Accumulated deferred investment tax credits |
- |
|
- |
|
Total Deferred Credits |
$ - |
|
$ - |
||
ACCUMULATED DEFERRED INCOME TAXES |
|||||
282 |
Accumulated deferred income taxes-Other Property |
$ 6,336 |
$ 8,164 |
||
283 |
Accumulated deferred income taxes-Other |
3,931 |
|
2,060 |
|
Total Accumulated Deferred Income Taxes |
$ 10,267 |
|
$ 10,224 |
||
TOTAL LIABILITIES AND PROPRIETARY CAPITAL |
$ 111,212 |
|
$ 88,516 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE II - SERVICE COMPANY PROPERTY |
|||||||||||
Description |
Balance At Beginning of Year |
Additions |
Retirements or Sales |
Other Changes (1) |
Balance At Close of Year |
||||||
SERVICE COMPANY PROPERTY |
|||||||||||
Account |
|||||||||||
301 |
Organization |
$ - |
$ - |
$ - |
$ - |
$ - |
|||||
303 |
Miscellaneous Intangible Plant |
9,460 |
- |
- |
- |
9,460 |
|||||
304 |
Land and Land Rights |
- |
- |
- |
- |
- |
|||||
305 |
Structures and Improvements |
14,481 |
- |
- |
- |
14,481 |
|||||
306 |
Leasehold Improvements |
- |
- |
- |
- |
- |
|||||
307 |
Equipment (2) |
53,772 |
488 |
(300) |
- |
53,960 |
|||||
308 |
Office Furniture and Equipment |
6,858 |
- |
- |
- |
6,858 |
|||||
309 |
Automobiles, Other Vehicles and Related Garage Equipment |
- |
- |
- |
- |
- |
|||||
310 |
Aircraft and Airport Equipment |
- |
- |
- |
- |
- |
|||||
311 |
Other Service Company Property (3) |
- |
- |
- |
- |
- |
|||||
SUBTOTAL |
$ 84,571 |
$ 488 |
$ (300) |
$ - |
$ 84,759 |
||||||
107 |
Construction Work in Progress (4) |
- |
- |
- |
- |
- |
|||||
TOTAL |
$ 84,571 |
$ 488 |
$ (300) |
$ - |
$ 84,759 |
||||||
(1) Provide an explanation of those changes considered material: |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 (In Thousands) SCHEDULE II - CONTINUED |
||||||
(2) Sub accounts are required for each class of equipment owned. The service company shall provide a |
||||||
Sub account Description |
Additions |
Balance At Close of Year |
||||
Computer Hardware |
$ 488 |
$ 45,408 |
||||
Computer Software |
- |
8,132 |
||||
Cafeteria & Kitchen Equipment |
- |
|
420 |
|||
TOTAL |
$ 488 |
|
$ 53,960 |
|||
(3) Describe Other Service Company Property: |
||||||
Not Applicable |
||||||
(4) Describe Construction Work in Progress: |
||||||
Asset Under Construction |
Capitalized Date |
Value |
Description |
|||
Not Applicable |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE III ACCUMULATED PROVISION FOR DEPRECIATION AND |
|||||||||||
Description |
Balance At Beginning of Year |
Additions Charged to Account 403 |
Retirements |
Other Changes Add (Deduct) (1) |
Balance At Close of Year |
||||||
Account |
|||||||||||
301 |
Organization |
$ - |
$ - |
$ - |
$ - |
$ - |
|||||
303 |
Miscellaneous Intangible Plant |
3,632 |
1,892 |
- |
5,524 |
||||||
304 |
Land and Land Rights |
- |
- |
- |
|||||||
305 |
Structures and Improvements |
1,109 |
477 |
- |
1,586 |
||||||
306 |
Leasehold |
||||||||||
Improvements |
- |
- |
- |
||||||||
307 |
Equipment (2) |
23,056 |
10,146 |
(210) |
- |
32,992 |
|||||
308 |
Office Furniture and Equipment |
710 |
332 |
- |
1,042 |
||||||
309 |
Automobiles, Other Vehicles and Related Garage Equipment |
- |
- |
- |
- |
- |
|||||
310 |
Aircraft and Airport Equipment |
- |
- |
- |
- |
- |
|||||
311 |
Other Service Company Property |
- |
- |
- |
- |
- |
|||||
TOTAL |
$ 28,507 |
$ 12,847 |
$ (210) |
$ - |
$ 41,144 |
||||||
(1) Provide an explanation of those changes considered material: |
|||||||||||
NOT APPLICABLE |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE IV - INVESTMENTS |
|||||||||||
INSTRUCTIONS: Complete the following schedule concerning investments. |
|||||||||||
Under Account 124, "Other Investments", state each investment separately, with description, including the name of the issuing company, number of shares or principal amount, etc. |
|||||||||||
Under Account 136, "Temporary Cash Investments", list each investment separately. |
|||||||||||
Description |
Balance At Beginning of Year |
Balance At Close of Year |
|||||||||
Account 123 - Investment in Associate Companies |
$ - |
$ - |
|||||||||
Account 124 - Other Investments |
- |
- |
|||||||||
Account 136 - Temporary Cash Investments |
- |
|
- |
||||||||
TOTAL |
$ - |
|
$ - |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES |
||||||||||
INSTRUCTIONS: |
Complete the following schedule listing accounts receivable from each associate company. Where the service company has provided accommodation or convenience payments for associate companies, a separate listing of total payments for each associate company by subaccount should be provided. |
|||||||||
Description |
Balance At Beginning of Year |
Balance At Close of Year |
||||||||
Account 146 - Accounts Receivable from Associate Companies |
||||||||||
|
Atlantic City Electric Company |
$ 7,820 |
$ 12,965 |
|||||||
Delmarva Power & Light Company |
7,777 |
11,102 |
||||||||
Conectiv Operating Services Company |
749 |
1,658 |
||||||||
Conectiv Delmarva Generation, Inc. |
1,651 |
1,393 |
||||||||
Conectiv Energy Holding Company |
969 |
1,056 |
||||||||
Conectiv Energy Supply, Inc. |
(3,045) |
1,028 |
||||||||
Conectiv Bethlehem, LLC |
81 |
475 |
||||||||
Thermal Energy Limited Partnership |
539 |
231 |
||||||||
Conectiv Mid Merit, Inc. |
204 |
231 |
||||||||
Pepco Energy Services, Inc. |
- |
188 |
||||||||
Conectiv Properties and Investments, Inc. |
(106) |
152 |
||||||||
Pedrick Generation, Inc. |
220 |
149 |
||||||||
Conectiv Holding Company, Inc. |
(4) |
148 |
||||||||
Conectiv Atlantic Generation, LLC |
133 |
139 |
||||||||
Atlantic Southern Properties |
193 |
113 |
||||||||
Pepco Holdings, Inc. |
- |
72 |
||||||||
Conectiv Thermal Systems |
65 |
57 |
||||||||
Conectiv Solutions LLC |
(90) |
44 |
||||||||
Conectiv Pennsylvania Generation, Inc. |
- |
42 |
||||||||
Potomac Capital Investment Corporation |
- |
37 |
||||||||
Atlantic Generation, Inc. |
28 |
27 |
||||||||
Vital Services Home, LLC |
- |
11 |
||||||||
King Street Assurance LTD |
2 |
10 |
||||||||
Conectiv Services II, Inc. |
12 |
10 |
||||||||
Pepco Communications, Inc. |
- |
6 |
||||||||
Binghamton General, Inc. |
- |
5 |
||||||||
Binghamton Limited, Inc. |
- |
3 |
||||||||
Atlantic City Electric Transition Funding LLC |
- |
3 |
||||||||
ATE Investments, Inc. |
8 |
2 |
||||||||
Vineland General, Inc. |
- |
2 |
||||||||
DCTC-Burney, Inc. |
2 |
2 |
||||||||
Vineland Limited, Inc. |
- |
1 |
||||||||
DCI II, Inc. |
(1) |
- |
||||||||
DCI I, Inc. |
4 |
- |
||||||||
Conectiv Communications, Inc. |
1,088 |
(180) |
||||||||
Potomac Electric Power Company |
- |
(786) |
||||||||
TOTAL RECEIVABLES |
$ 18,299 |
$ 30,396 |
||||||||
Analysis of Convenience or Accommodation Payments: |
||||||||||
See Schedule V (a) |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE V (a) - Analysis of Convenience or Accommodation Payments |
||
Company Name |
Total |
|
ATE Investments, Inc. |
$ 288 |
|
Atlantic City Electric Company |
31,978 |
|
Atlantic Generation, Inc. |
56 |
|
Atlantic Southern Properties |
2,974 |
|
Binghamton General Inc. |
3 |
|
Binghamton Limited Inc. |
2 |
|
Conectiv Holding Company, Inc. |
6,345 |
|
Conectiv Atlantic Generation, LLC |
17,721 |
|
Conectiv Bethlehem, LLC |
10,533 |
|
Conectiv Communications, Inc. |
558 |
|
Conectiv Delmarva Generation, Inc. |
6,530 |
|
Conectiv Energy Holding Company |
85 |
|
Conectiv Energy Supply, Inc. |
9,380 |
|
Conectiv Mid-Merit, Inc. |
1,213 |
|
Conectiv Operating Services Company |
5,228 |
|
Conectiv Pennsylvania Generation, Inc. |
24 |
|
Conectiv Properties and Investments, Inc. |
3,458 |
|
Conectiv Thermal Systems |
3,724 |
|
Conectiv Solutions, LLC |
772 |
|
Conectiv Services II, Inc. |
1,908 |
|
DCI I, Inc. |
140 |
|
DCI II, Inc. |
362 |
|
DCTC-Burney, Inc. |
71 |
|
Delmarva Power & Light Company |
34,052 |
|
King Street Assurance Ltd |
2,945 |
|
Potomac Capital Investment Corporation |
35 |
|
Potomac Electric Power Company |
86 |
|
Potomac Energy Services, Inc. |
1 |
|
Pepco Holdings, Inc. |
11,483 |
|
Thermal Energy Limited Partnership |
770 |
|
Vital Services Home LLC |
11 |
|
Total Payments |
$ 152,736 |
|
The majority of convenience payments relate to benefits and outside legal, consulting and purchased power expenses paid to vendors who bill more than one system affiliate on one invoice, and expenses incurred by system affiliates who do not have a checking account. |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE VI - FUEL STOCK EXPENSE UNDISTRIBUTED |
|||||||||||
INSTRUCTIONS: |
Report the amount of labor and expenses incurred with respect to fuel stock expenses during the year and indicate amount attributable to each associate company. Under the section headed "summary" listed below give an overall report of the fuel functions performed by the service company. |
||||||||||
Description |
Labor |
Expenses |
Total |
||||||||
Account 152 - Fuel Stock Expenses Undistributed |
$ - |
|
$ - |
|
$ - |
||||||
TOTAL |
$ - |
|
$ - |
|
$ - |
||||||
Summary: |
|||||||||||
Not Applicable |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE VII - STORES EXPENSE UNDISTRIBUTED |
||||||||||||
INSTRUCTIONS: |
Report the amount of labor and expenses incurred with respect to stores expense during the year and indicate amount attributable to each associate company. |
|||||||||||
Description |
Labor |
Expenses |
Total |
|||||||||
Account 163 - Stores Expense Undistributed |
$ - |
|
$ - |
|
$ - |
|||||||
TOTAL |
$ - |
|
$ - |
|
$ - |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE VIII - MISCELLANEOUS CURRENT AND ACCRUED ASSETS |
|||||||||
INSTRUCTIONS: |
Provide detail of items in this account. Items less than $10,000 may be grouped, showing the number of items in each group. |
||||||||
Balance At Beginning of Year |
Balance At Close of Year |
||||||||
Description |
|||||||||
Account 174 - Miscellaneous Current and |
$ - |
|
$ - |
||||||
TOTAL |
$ - |
|
$ - |
||||||
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE IX - MISCELLANEOUS DEFERRED DEBITS |
|||||||||
INSTRUCTIONS: |
Provide detail of items in this account. Items less than $10,000 may be grouped by class, showing the number of items in each class. |
||||||||
Description |
Balance At Beginning of Year |
Balance At Close of Year |
|||||||
Account 186 - Miscellaneous Deferred Debits |
|||||||||
Intangible Asset-Supplemental Executive Retirement Plan |
$ 1,483 |
$ 1,483 |
|||||||
SAP Costs-Deferred |
2,570 |
2,000 |
|||||||
Property Sales - Deferred selling expenses |
- |
42 |
|||||||
Other |
- |
(1) |
|||||||
TOTAL |
$ 4,053 |
|
$ 3,524 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE X |
||||||
INSTRUCTIONS: |
Provide a description of each material research, development, or demonstration project which incurred costs by the service corporation during the year. |
|||||
Description |
Amount |
|||||
Account 188 - |
RESEARCH, DEVELOPMENT, OR DEMONSTRATION EXPENDITURES |
$ - |
||||
TOTAL |
$ - |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE XI - PROPRIETARY CAPITAL |
|||||||||||
Outstanding |
|||||||||||
Account Number |
Class of Stock |
Number of Shares Authorized |
Par or Stated Value Per Share |
No. of Shares |
Total Amount |
||||||
201 |
Common Stock Issued |
1,000 |
$ 1.00 |
1,000 |
$ 1,000 |
||||||
INSTRUCTIONS: |
Classify amounts in each account with brief explanation, disclosing the general nature of transactions which gave rise to the reported amounts. |
||||||||||
Description |
Amount |
||||||||||
Account 211 - Miscellaneous Paid-In Capital |
$ - |
||||||||||
Account 215 - Appropriated Retained Earnings |
- |
||||||||||
TOTAL |
$ - |
||||||||||
INSTRUCTIONS: |
Give particulars concerning net income or (loss) during the year, distinguishing between compensation for the use of capital owed or net loss remaining from servicing nonassociates per the General Instructions of the Uniform System of Accounts. For dividends paid during the year in cash or otherwise, provide rate percentage, amount of dividend, date declared and date paid. |
||||||||||
Description |
Balance At Beginning of Year |
Net Income or (Loss) |
Dividends Paid |
Balance At Close of Year |
|||||||
Account 216 - Unappropriated |
$ 37 |
|
$ (529) |
|
$ - |
|
$ (492) |
||||
TOTAL |
$ 37 |
|
$ (529) |
|
$ - |
|
$ (492) |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE XII - LONG-TERM DEBT |
||||||||||
INSTRUCTIONS: |
Advances from associate companies should be reported separately for advances on notes, and advances on open account. Names of associate companies from which advances were received shall be shown under the class and series of obligation column. For Account 224 - Other Long-Term Debt provide the name of the creditor company or organization, terms of the obligation, date of maturity, interest rate, and the amount authorized and outstanding. |
|||||||||
Terms of Oblig |
Date of Maturity |
Interest Rate |
Amount Amortized |
Balance At Beginning of Year |
Additions |
Deductions (1) |
Balance At Close of Year |
|||
Account 223 - Advances from |
$ - |
$ - |
||||||||
Account 224 - Other Long-Term Debt |
- |
- |
||||||||
TOTAL |
$ - |
$ - |
||||||||
(1) Give an explanation of deductions: |
||||||||||
Not Applicable |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES |
|||||||||
INSTRUCTIONS: |
Provide balance of notes and accounts payable to each associate company. Give description and amount of miscellaneous current and accrued liabilities. Items less than $10,000 may be grouped, showing the number of items in each group. |
||||||||
Description |
Balance At Beginning of Year |
Balance At Close of Year |
|||||||
Account 233 - Notes Payable to Associate Companies |
|||||||||
PHI System Money Pool |
$ 22,265 |
$ 41,617 |
|||||||
King Street Assurance Ltd. |
20,051 |
|
- |
||||||
TOTAL |
$ 42,316 |
|
$ 41,617 |
||||||
Account 234 - Accounts Payable to Associate Companies |
|||||||||
$ - |
$ - |
||||||||
- |
|
- |
|||||||
TOTAL |
$ - |
|
$ - |
||||||
Account 242 - Miscellaneous Current and Accrued Liabilities |
|||||||||
Incentive |
$ 6,155 |
$ 7,112 |
|||||||
Pension/OPEB |
6,849 |
15,272 |
|||||||
Deferred Savings and Thrift |
11,286 |
19,172 |
|||||||
Supplemental Executive Retirement Plan |
3,300 |
(2,079) |
|||||||
Health Claims Reserve |
1,808 |
1,808 |
|||||||
Severance |
235 |
5,230 |
|||||||
Accrued Vacation |
- |
2,200 |
|||||||
License Fees |
- |
1,899 |
|||||||
Other |
363 |
101 |
|||||||
General Liability Insurance |
107 |
|
- |
||||||
TOTAL |
$ 30,103 |
|
$ 50,715 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE XIV - NOTES TO FINANCIAL STATEMENTS |
||
INSTRUCTIONS: |
The space below is provided for important notes regarding the financial statements or any account thereof. Furnish particulars as to any significant contingent assets of liabilities existing at the end of the year. Notes relating to financial statements shown elsewhere in this report may be indicated her by reference. |
|
1. |
Organization |
|
On August 1, 2002, Conectiv was acquired by Pepco Holdings, Inc. (PHI) in a transaction pursuant to an Agreement and Plan of Merger (the Conectiv/Pepco Merger Agreement), dated as of February 9, 2001, among PHI (formerly New RC, Inc.), Conectiv and Potomac Electric Power Company (Pepco), in which Pepco and Conectiv merged with subsidiaries of PHI (the Conectiv/Pepco Merger). As a result of the Conectiv/Pepco Merger, Conectiv and Pepco each became subsidiaries of PHI. In addition, Conectiv contributed Conectiv Resource Partners, Inc. (the name of which changed to PHI Service Company on August 8, 2002) (CRP) to PHI, effective August 1, 2002. CRP was the service company for Conectiv for the period prior to the Conectiv/Pepco Merger, and continued as the service company for PHI for the period subsequent to the merger, operating under its new name, PHI Service Company. |
||
2. |
Service Company Property and Non-Utility Property |
|
Service Company property and non-utility property are stated at original cost, including property additions. Capitalized interest is included in the original cost and represents the cost of borrowed and equity funds used to finance construction of new facilities. The annual provision for depreciation on service company and non-utility property is computed on the straight-line basis using composite rates by classes of depreciable property. Accumulated depreciation is charged with the cost of depreciable property retired, including removal costs less salvage and other recoveries. |
||
3. |
Income Taxes |
|
PHI Service Company (PHISCO), as a subsidiary of Pepco Holdings, Inc. (PHI), is included in the consolidated federal income tax return of PHI. Income taxes are allocated to PHISCO based upon its taxable income or loss, determined on a separate return basis. The financial statements include two categories of income taxes-current and deferred. Current income taxes represent PHISCO's share of amounts of tax expected to be reported on PHI's federal and state income tax returns. Deferred income tax assets and liabilities represent the tax effects of temporary differences between the financial statements and tax bases of existing assets and liabilities and are measured using presently enacted tax rates. Deferred income tax expense represents the net change during the reporting period in the net deferred tax liability. |
||
4. |
Pension and Other Postretirement Benefits |
|
PHISCO employees are covered by the PHI retirement plan. Effective December 31, 2002, following the August 1, 2002 Pepco and Conectiv merger, the Pepco General Retirement Plan and the Conectiv Retirement Plan were merged into the Pepco Holdings Retirement Plan (PHI Retirement Plan). The PHI Retirement Plan, as of December 31, 2002, had a projected benefit obligation of $1,398.9 million and trust fund assets with a fair value of $1,240.6 million, resulting in an under-funded status of $158.3 million. Due to an unrecognized actuarial loss, an asset of $124.9 million was reflected on PHI's Consolidated December 31, 2002 Balance Sheet. During 2002, PHISCO incurred expense of $4.6 million for pension service and interest costs, net of expected return on assets. |
||
PHISCO employees are covered by Conectiv's other postretirement benefit plans which as of December 31, 2002 had a projected benefit obligation of $330.1 million and trust fund assets with a fair value of $108.0 million, resulting in an under-funded status of $222.1 million, of which $94.7 million was reflected on Conectiv's Consolidated December 31, 2002 Balance Sheet. During 2002, PHISCO incurred an expense of $10.7 million for other postretirement service and interest costs, net of expected return on assets. |
||
Conectiv also maintains 401(k) savings plans for covered employees, including employees of PHISCO. Under these plans, Conectiv makes contributions on behalf of participants. The amount expensed by PHISCO for Conectiv's matching contributions was $1.8 million in 2002. |
||
5. |
Rents |
|
PHISCO leases office buildings and business equipment from associate companies. These eases are accounted for as operating leases. |
||
6. |
Money Pool |
|
The Money Pool exists to permit affiliate companies to borrow excess cash from other affiliate companies. PHI Service Company serves as the Administrator for the System Money Pool. |
ANNUAL REPORT OF: PHI Service Company For the Years Ended December 31, 2002 and 2001 SCHEDULE XV - COMPARATIVE STATEMENT OF INCOME |
||||||
Account |
Description |
Current |
Prior |
|||
INCOME |
||||||
457 |
Services rendered to associate companies |
$ 263,094 |
$ 233,790 |
|||
458 |
Services rendered to nonassociate companies |
- |
- |
|||
421 |
Miscellaneous income or loss |
- |
|
- |
||
TOTAL INCOME |
$ 263,094 |
|
$ 233,790 |
|||
EXPENSE |
||||||
912-13 |
Marketing & Advertising |
$ 182 |
$ 168 |
|||
920 |
Salaries and wages |
114,723 |
95,788 |
|||
921 |
Office Supplies and expenses |
22,868 |
18,113 |
|||
922 |
Administrative expenses transferred-credit |
- |
- |
|||
923 |
Outside services employed |
45,965 |
54,707 |
|||
924 |
Property insurance |
958 |
(243) |
|||
925 |
Injuries and damages |
2,647 |
880 |
|||
926 |
Employee pensions and benefits |
41,266 |
18,232 |
|||
928 |
Regulatory commission expense |
- |
- |
|||
929 |
Duplicate charges-credit |
(11) |
(481) |
|||
930.1 |
General advertising expense |
122 |
450 |
|||
930.2 |
Miscellaneous general expenses |
3,519 |
4,534 |
|||
931 |
Rents |
15,546 |
22,486 |
|||
932 |
Maintenance of structures and equipment |
238 |
300 |
|||
403 |
Depreciation and amortization expense |
12,847 |
12,570 |
|||
408 |
Taxes other than income taxes |
494 |
390 |
|||
409 |
Income taxes |
957 |
(2,294) |
|||
410 |
Provision for deferred income taxes |
(428) |
2,028 |
|||
411 |
Provision for deferred income taxes-credit |
- |
- |
|||
411.5 |
Investment tax credit |
- |
- |
|||
426.1 |
Donations |
633 |
835 |
|||
426.5 |
Other deductions |
90 |
1,944 |
|||
427 |
Interest on long-term debt |
- |
- |
|||
430 |
Interest on debt to associate companies |
1,007 |
3,117 |
|||
431 |
Other interest expense |
- |
|
- |
||
TOTAL EXPENSES |
$ 263,623 |
|
$ 233,524 |
|||
NET INCOME OR (LOSS) |
$ (529) |
|
$ 266 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 ANALYSIS OF BILLING ASSOCIATE COMPANIES - ACCOUNT 457 |
|||||||||||
Name of Associate Company |
Direct |
Indirect |
Compensation |
Total |
|||||||
Delmarva Power & Light Company |
$21,059 |
$ 81,118 |
$ 435 |
$102,612 |
|||||||
Atlantic City Electric Company |
16,655 |
75,563 |
355 |
92,573 |
|||||||
Conectiv Properties and Investments, Inc. |
123 |
77 |
2 |
202 |
|||||||
DCI I, Inc. |
64 |
32 |
- |
96 |
|||||||
DCI II, Inc. |
1 |
- |
- |
1 |
|||||||
Conectiv Operating Services Company |
4,639 |
8,333 |
44 |
13,016 |
|||||||
DCTC-Burney, Inc. |
31 |
2 |
- |
33 |
|||||||
Conectiv Energy Supply, Inc. |
10,269 |
7,915 |
24 |
18,208 |
|||||||
Conectiv Delmarva Generation, Inc. |
3,497 |
13,441 |
117 |
17,055 |
|||||||
Conectiv Atlantic Generation, LLC |
434 |
2,398 |
16 |
2,848 |
|||||||
Conectiv Mid Merit, Inc. |
1,485 |
1,691 |
- |
3,176 |
|||||||
Conectiv Bethlehem, LLC |
3,114 |
679 |
1 |
3,794 |
|||||||
Conectiv Pennsylvania Generation, Inc. |
555 |
54 |
- |
609 |
|||||||
Conectiv Energy Holding Co. |
122 |
1 |
- |
123 |
|||||||
Atlantic Southern Properties |
25 |
111 |
2 |
138 |
|||||||
Atlantic Generation, Inc. |
451 |
32 |
- |
483 |
|||||||
Vineland Limited, Inc. |
1 |
- |
- |
1 |
|||||||
Vineland General, Inc. |
2 |
- |
- |
2 |
|||||||
Binghamton Limited, Inc. |
1 |
- |
- |
1 |
|||||||
Binghamton General, Inc. |
1 |
- |
- |
1 |
|||||||
ATE Investment, Inc. |
8 |
37 |
- |
45 |
|||||||
King Street Assurance LTD |
29 |
66 |
- |
95 |
|||||||
Conectiv Services II, Inc. |
113 |
- |
- |
113 |
|||||||
Conectiv Solutions LLC |
170 |
296 |
- |
466 |
|||||||
Conectiv Thermal Systems |
131 |
736 |
3 |
870 |
|||||||
Thermal Energy Limited Partnership |
429 |
185 |
8 |
622 |
|||||||
Conectiv Communications, Inc. |
94 |
243 |
- |
337 |
|||||||
Potomac Electric Power Company |
- |
2,641 |
- |
2,641 |
|||||||
Potomac Capital Investment Corporation |
1 |
171 |
- |
172 |
|||||||
Pepco Communications, Inc. |
- |
6 |
- |
6 |
|||||||
Pepco Energy Services, Inc. |
- |
635 |
- |
635 |
|||||||
Pepco Holdings, Inc. |
4 |
733 |
- |
737 |
|||||||
Conectiv Holding Company, Inc. |
26 |
1,357 |
- |
1,383 |
|||||||
TOTAL |
$63,534 |
$198,553 |
$ 1,007 |
$263,094 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 ANALYSIS OF BILLING NONASSOCIATE COMPANIES - ACCOUNT 458 |
|||||||||||||||
Name of Nonassociate Company |
Direct Costs Charged |
Indirect Costs Charged |
Compensation For Use of Capital |
Total Cost |
Excess or Deficiency |
Total Amount Billed |
|||||||||
TOTAL |
$ - |
$ - |
$ - |
$ - |
$ - |
$ - |
|||||||||
INSTRUCTION: |
Provide a brief description of the services rendered to each nonassociate company. |
||||||||||||||
NOT APPLICABLE |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE XVI - ANALYSIS OF CHARGES FOR SERVICES ASSOCIATE AND NONASSOCIATE COMPANIES |
|||||||||||||
Associate Company Charges |
Nonassociate Company Charges |
Total Charges for Service |
|||||||||||
Description of Items |
Direct Costs |
Indirect Costs |
Total |
Direct Costs |
Indirect Costs |
Total |
Direct Costs |
Indirect Costs |
Total |
||||
912-13 |
Marketing & Advertising |
$ - |
$ 182 |
$ 182 |
$ - |
$ - |
$ - |
$ - |
$ 182 |
$ 182 |
|||
920 |
Salaries and wages |
36,596 |
78,127 |
114,723 |
- |
- |
36,596 |
78,127 |
114,723 |
||||
921 |
Office Supplies and expenses |
3,812 |
19,056 |
22,868 |
- |
- |
- |
3,812 |
19,056 |
22,868 |
|||
922 |
Administrative expenses transferred-credit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||
923 |
Outside services employed |
7,370 |
38,595 |
45,965 |
- |
- |
- |
7,370 |
38,595 |
45,965 |
|||
924 |
Property insurance |
- |
958 |
958 |
- |
- |
- |
- |
958 |
958 |
|||
925 |
Injuries and damages |
- |
2,647 |
2,647 |
- |
- |
- |
- |
2,647 |
2,647 |
|||
926 |
Employee pensions and benefits |
9,594 |
31,672 |
41,266 |
- |
- |
- |
9,594 |
31,672 |
41,266 |
|||
928 |
Regulatory commission expense |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||
929 |
Duplicate charges-credit |
- |
(11) |
(11) |
- |
(11) |
(11) |
||||||
930.1 |
General advertising expense |
- |
122 |
122 |
- |
- |
- |
- |
122 |
122 |
|||
930.2 |
Miscellaneous general expenses |
253 |
3,266 |
3,519 |
- |
- |
- |
253 |
3,266 |
3,519 |
|||
931 |
Rents |
3,050 |
12,496 |
15,546 |
- |
- |
- |
3,050 |
12,496 |
15,546 |
|||
932 |
Maintenance of structures and equipment |
- |
238 |
238 |
- |
- |
- |
- |
238 |
238 |
|||
403 |
Depreciation and amortization expense |
2,859 |
9,988 |
12,847 |
- |
- |
- |
2,859 |
9,988 |
12,847 |
|||
408 |
Taxes other than income taxes |
- |
494 |
494 |
- |
- |
- |
- |
494 |
494 |
|||
409 |
Income taxes |
- |
428 |
428 |
- |
- |
- |
- |
428 |
428 |
|||
410 |
Provision for deferred income taxes |
- |
(428) |
(428) |
- |
- |
- |
- |
(428) |
(428) |
|||
411 |
Provision for deferred income taxes-credit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||
411.5 |
Investment tax credit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||
426.1 |
Donations |
- |
633 |
633 |
- |
- |
- |
- |
633 |
633 |
|||
426.5 |
Other deductions |
- |
90 |
90 |
- |
- |
- |
- |
90 |
90 |
|||
427 |
Interest on long-term debt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||
431 |
Other interest expense |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||
TOTAL EXPENSES |
$63,534 |
$198,553 |
$262,087 |
$ - |
$ - |
$ - |
$63,534 |
$198,553 |
$262,087 |
||||
Compensation for Use of Equity Capital |
|||||||||||||
430 |
Interest on debt to associate companies |
1,007 |
- |
- |
- |
- |
1,007 |
1,007 |
|||||
TOTAL COST OF SERVICES |
263,094 |
$ - |
$ - |
$ - |
$63,534 |
$199,560 |
$263,094 |
||||||
INSTRUCTION: |
Total cost of service will equal for associate and nonassociate companies the total amount billed under their separate analysis of billing schedules. |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE XVII - SCHEDULE OF EXPENSE DISTIBUTION BY DEPARTMENT OR SERVICE FUNCTION |
||||||||||
Description of Items |
Total Amount |
Overhead |
Executive Management |
Environmental & Safety |
Corporate Communications |
Information Services |
Customer Care |
Corporate Secretary |
Internal Audit |
912-13 |
Marketing & Advertising |
$ 182 |
$ - |
$ - |
$ 5 |
$ 27 |
$ - |
$ 6 |
$ - |
$ - |
920 |
Salaries and wages |
114,723 |
20,242 |
3,251 |
343 |
930 |
8,974 |
19,883 |
273 |
526 |
921 |
Office Supplies and expenses |
22,868 |
4,230 |
664 |
80 |
403 |
6,385 |
5,534 |
29 |
68 |
922 |
Administrative expenses transferred-credit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
923 |
Outside services employed |
45,965 |
217 |
248 |
187 |
934 |
27,405 |
4,841 |
276 |
237 |
924 |
Property insurance |
958 |
- |
- |
- |
- |
- |
- |
- |
- |
925 |
Injuries and damages |
2,647 |
- |
- |
- |
- |
- |
- |
- |
- |
926 |
Employee pensions and benefits |
41,266 |
40,582 |
74 |
5 |
72 |
148 |
- |
- |
64 |
928 |
Regulatory commission expense |
- |
- |
- |
- |
- |
- |
- |
- |
- |
929 |
Duplicate Charges-credit |
(11) |
(2) |
- |
- |
- |
(2) |
- |
- |
- |
930.1 |
General advertising expense |
122 |
- |
- |
- |
41 |
- |
- |
- |
- |
930.2 |
Miscellaneous general expenses |
3,519 |
(22) |
63 |
21 |
211 |
819 |
293 |
5 |
4 |
931 |
Rents |
15,546 |
8,914 |
5 |
3 |
7,367 |
251 |
- |
- |
|
932 |
Maintenance of structures and equipment |
238 |
- |
- |
- |
- |
- |
- |
- |
- |
403 |
Depreciation and amortization expense |
12,847 |
- |
- |
- |
- |
8,543 |
710 |
- |
- |
408 |
Taxes other than income taxes |
494 |
11 |
- |
- |
- |
- |
- |
- |
- |
409 |
Income taxes |
957 |
957 |
- |
- |
- |
- |
- |
- |
- |
410 |
Provision for deferred income taxes |
(428) |
(428) |
- |
- |
- |
- |
- |
- |
- |
411 |
Provision for deferred income taxes-credit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
411.5 |
Investment tax credit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
426.1 |
Donations |
633 |
- |
22 |
7 |
527 |
- |
4 |
- |
- |
426.5 |
Other deductions |
90 |
- |
- |
- |
90 |
- |
- |
- |
|
427 |
Interest on long-term debt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
430 |
Interest on debt to associate companies |
1,007 |
1,007 |
- |
- |
- |
- |
- |
- |
- |
431 |
Other interest expense |
- |
- |
- |
- |
- |
- |
- |
- |
- |
TOTAL EXPENSES |
$263,623 |
$75,708 |
$4,327 |
$648 |
$3,148 |
$59,729 |
$31,522 |
$583 |
$899 |
|
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE XVII - SCHEDULE OF EXPENSE DISTIBUTION BY DEPARTMENT OR SERVICE FUNCTION |
||||||||||
Description of Items |
Legal |
Human Resources |
Controller |
CLS Financial Support |
Risk & Insurance |
Treasury |
Procurement & Supply Chain |
Facility & Real Estate Services |
||
912-13 |
Marketing & Advertising |
$ - |
$ 1 |
$ - |
$ - |
$ - |
$ - |
$ - |
$ - |
|
920 |
Salaries and wages |
1,154 |
2,030 |
3,491 |
757 |
871 |
1,959 |
1,966 |
646 |
|
921 |
Office Supplies and expenses |
192 |
295 |
201 |
27 |
120 |
1,238 |
134 |
77 |
|
922 |
Administrative expenses transferred-credit |
- |
- |
- |
- |
- |
- |
- |
- |
|
923 |
Outside services employed |
222 |
2,172 |
1,261 |
65 |
9 |
1,501 |
142 |
1,197 |
|
924 |
Property insurance |
- |
- |
- |
- |
958 |
- |
- |
- |
|
925 |
Injuries and damages |
- |
- |
- |
- |
2,647 |
- |
- |
- |
|
926 |
Employee pensions and benefits |
25 |
30 |
14 |
- |
24 |
211 |
- |
- |
|
928 |
Regulatory commission expense |
- |
- |
- |
- |
- |
- |
- |
- |
|
929 |
Duplicate Charges-credit |
(1) |
- |
- |
- |
- |
- |
- |
(6) |
|
930.1 |
General advertising expense |
- |
- |
- |
- |
1 |
- |
- |
- |
|
930.2 |
Miscellaneous general expenses |
12 |
76 |
38 |
13 |
(156) |
32 |
44 |
387 |
|
931 |
Rents |
- |
- |
28 |
- |
- |
- |
- |
(1,973) |
|
932 |
Maintenance of structures and equipment |
- |
- |
- |
- |
- |
- |
- |
238 |
|
403 |
Depreciation and amortization expense |
- |
1,342 |
- |
- |
- |
- |
172 |
631 |
|
408 |
Taxes other than income taxes |
- |
3 |
- |
- |
- |
- |
- |
478 |
|
409 |
Income taxes |
- |
- |
- |
- |
- |
- |
- |
- |
|
410 |
Provision for deferred income taxes |
- |
- |
- |
- |
- |
- |
- |
- |
|
411 |
Provision for deferred income taxes-credit |
- |
- |
- |
- |
- |
- |
- |
- |
|
411.5 |
Investment tax credit |
- |
- |
- |
- |
- |
- |
- |
- |
|
426.1 |
Donations |
- |
- |
- |
16 |
- |
10 |
- |
- |
|
426.5 |
Other deductions |
- |
- |
- |
- |
- |
- |
- |
- |
|
427 |
Interest on long-term debt |
- |
- |
- |
- |
- |
- |
- |
- |
|
430 |
Interest on debt to associate companies |
- |
- |
- |
- |
- |
- |
- |
- |
|
431 |
Other interest expense |
- |
- |
- |
- |
- |
- |
- |
- |
|
TOTAL EXPENSES |
$1,604 |
$5,949 |
$5,033 |
$878 |
$4,474 |
$4,951 |
$2,458 |
$1,675 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 DEPARTMENTAL ANALYSIS OF SALARIES - ACCOUNT 920 |
|||||
Name of Department |
Departmental Salary Expense |
Number of Personnel |
|||
Indicate each department or service function. |
Total Amount |
Parent Company |
Other Associates |
Non Associates |
End of Year |
Executive Management |
$ 3,251 |
$327 |
$ 2,924 |
$ - |
5 |
Environmental & Safety |
343 |
- |
343 |
- |
5 |
Corporate Communications |
930 |
93 |
837 |
- |
8 |
Information Systems |
8,974 |
- |
8,974 |
- |
116 |
Customer Care |
19,883 |
- |
19,883 |
- |
430 |
Corporate Secretary |
273 |
28 |
245 |
- |
0 |
Internal Audit |
526 |
- |
526 |
- |
4 |
Legal |
1,154 |
116 |
1,038 |
- |
12 |
Human Resources |
2,030 |
- |
2,030 |
- |
24 |
Controller |
3,491 |
30 |
3,461 |
- |
48 |
CLS Financial Support |
757 |
- |
757 |
- |
3 |
Risk & Insurance |
871 |
- |
871 |
- |
7 |
Treasury |
1,959 |
196 |
1,763 |
- |
12 |
Procurement & Supply Chain |
1,966 |
- |
1,966 |
- |
20 |
Facility & Real Estate Services |
646 |
- |
646 |
- |
9 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 DEPARTMENTAL ANALYSIS OF SALARIES - ACCOUNT 920 (continued) |
|||||
Name of Department |
Departmental Salary Expense |
Number of Personnel |
|||
Indicate each department or service function. |
Total Amount |
Parent Company |
Other Associates |
Non Associates |
End of Year |
Vehicle Management |
$ 596 |
$ - |
$ 596 |
$ - |
5 |
Security & Document Services |
570 |
- |
570 |
- |
12 |
Delivery LOB Support |
21,085 |
- |
21,085 |
- |
244 |
Energy LOB Support |
25,148 |
- |
25,148 |
- |
340 |
Enterprise LOB Support |
28 |
- |
28 |
- |
- |
Corporate |
20,242 |
- |
20,242 |
- |
- |
$114,723 |
$790 |
$113,933 |
- |
1,304 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 OUTSIDE SERVICES EMPLOYED - ACCOUNT 923 |
||||||||
INSTRUCTIONS: |
Provide a breakdown by subaccount of outside services employed. If the aggregate amounts paid to any one payee and included within one subaccount is less than $100,000, only the aggregate number and amount of all such payments included within the subaccount need be shown. Provide a subaccount for each type of service. |
|||||||
From Whom Purchased |
Description |
Relationship "A"=Associate "NA"=Nonassociate |
Amount |
|||||
Temporary Services: |
||||||||
AJILON |
Temporary Employment Services |
NA |
$ 1,053 |
|||||
RANDSTAD |
Temporary Employment Services |
NA |
621 |
|||||
INTEGRITY STAFFING SOLUTIONS |
Temporary Employment Services |
NA |
440 |
|||||
CORNERSTONE MANAGEMENT CONSULTING |
Temporary Employment Services |
NA |
370 |
|||||
PBS Consulting, Inc. |
Consulting Services |
NA |
205 |
|||||
TR SYSTEMS INC |
IS Temporary Services |
NA |
199 |
|||||
LOGICAL BUSINESS SOLUTIONS INC |
Consulting Services |
NA |
186 |
|||||
ACCOUNTEMPS |
Temporary Employment Services |
NA |
170 |
|||||
MRC INC |
Temporary Employment Services |
NA |
170 |
|||||
KEANE INC |
Temporary Employment Services |
NA |
148 |
|||||
PROGRESSIVE SOFTWARE COMPUTING INC |
Temporary Employment Services |
NA |
145 |
|||||
FRANCIS J KITZINGER |
Consulting Services |
NA |
132 |
|||||
CAB TECHNOLOGIES INC |
IS Temporary Services |
NA |
124 |
|||||
FUTURTECH CONSULTING INC |
Computer Consulting Services |
NA |
109 |
|||||
THE SIEGFRIED GROUP LLP |
Temporary Employment Services |
NA |
112 |
|||||
DORSET PROFESSIONAL SERVICES INC |
Computer Consultants/Services |
NA |
107 |
|||||
MISCELLANEOUS |
752 |
|||||||
(27 ITEMS LESS THAN $100,000) |
||||||||
TOTAL |
$ 5,043 |
|||||||
Market Research Services: |
||||||||
MISCELLANEOUS |
NA |
$ 66 |
||||||
(3 ITEMS LESS THAN $100,000) |
||||||||
TOTAL |
$ 66 |
|||||||
Maintenance Services: |
||||||||
IBM GLOBAL SERVICES US |
Computer Consultants/Services |
NA |
$17,680 |
|||||
VISALIGN LLC |
Computer Consultants/Services |
NA |
2,660 |
|||||
SUN MICROSYSTEMS INC |
Computer Consultants/Services |
NA |
658 |
|||||
CISCO |
Computer Consultants/Services |
NA |
277 |
|||||
OFFICE MOVERS INC |
Moving Services |
NA |
196 |
|||||
AVAYA INC |
Consulting Services |
NA |
181 |
|||||
NETWORK EQUIPMENT TECHNOLOGIES |
Communications Services |
NA |
181 |
|||||
SIEMENS ENTERPRISE NETWORKS LLC |
Computer Consultants/Services |
NA |
165 |
|||||
META SECURITY GROUP |
Security Services |
NA |
153 |
|||||
AMERICAN BUILDING MAINTENANCE |
Building Services |
NA |
141 |
|||||
MISCELLANEOUS |
NA |
590 |
||||||
(82 ITEMS LESS THAN $100,000) |
||||||||
TOTAL |
$22,882 |
|||||||
Legal Services: |
||||||||
PEPPER HAMILTON & SCHEETZ LLP |
Professional Legal Services |
NA |
$ 385 |
|||||
ARIA A KLEES |
Professional Legal Services |
NA |
172 |
|||||
BLANK ROME COMISKY & MCCAULEY |
Professional Legal Services |
NA |
130 |
|||||
LEBOEUF LAMB GREENE & MACRAE LLP |
Professional Legal Services |
NA |
114 |
|||||
MISCELLANEOUS |
NA |
562 |
||||||
(28 ITEMS LESS THAN $100,000) |
||||||||
TOTAL |
$ 1,363 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 OUTSIDE SERVICES EMPLOYED - ACCOUNT 923 (Continued) |
||||||||
From Whom Purchased |
Description |
Relationship "A"=Associate "NA"=Nonassociate |
Amount |
|||||
Audit Services: |
||||||||
PRICEWATERHOUSECOOPERS LLP |
Audit Services |
NA |
$ 455 |
|||||
MISCELLANEOUS |
18 |
|||||||
(1 ITEM LESS THAN $100,000) |
||||||||
TOTAL |
$ 473 |
|||||||
Advertising Services: |
||||||||
ALFRED DESIGN |
Advertising Services |
NA |
$ 204 |
|||||
MISCELLANEOUS |
NA |
73 |
||||||
(7 ITEMS LESS THAN $100,000) |
||||||||
TOTAL |
$ 277 |
|||||||
Training Services: |
||||||||
MISCELLANEOUS |
NA |
$ 129 |
||||||
(13 ITEMS LESS THAN $100,000) |
||||||||
TOTAL |
$129 |
|||||||
Collection Services: |
||||||||
NCO FINANCIAL SERVICES |
Collection Services |
NA |
$ 2,443 |
|||||
MISCELLANEOUS |
NA |
269 |
||||||
(12 ITEMS LESS THAN $100,000) |
||||||||
TOTAL |
$ 2,712 |
|||||||
Other Services: |
||||||||
FLK CONSULTING SERVICES |
Consulting Services |
NA |
$ 1,714 |
|||||
STANTON COMMUNICATIONS INC |
Communications Services |
NA |
894 |
|||||
BANK OF NEW YORK |
Treasury Services |
NA |
526 |
|||||
BUCK CONSULTANTS INC |
Consulting Services |
NA |
464 |
|||||
KPMG CONSULTING |
Financial Consulting Services |
NA |
386 |
|||||
BROOKS COURIER SERVICE INC |
Courier Services |
NA |
384 |
|||||
VERIZON SELECT SERVICES INC |
Telecommunications Services |
NA |
355 |
|||||
UTILITY SYSTEMS SOLUTIONS |
Operations Consulting Services |
NA |
330 |
|||||
GARY GASPER |
Consulting Services |
NA |
267 |
|||||
MDSI-MOBILE DATA SOLUTIONS |
Software support services |
NA |
248 |
|||||
SUNGARD RECOVERY SERVICES INC |
Disaster Recovery Support Services |
NA |
227 |
|||||
WEICHERT RELOCATION |
Relocation Support |
NA |
205 |
|||||
TOWERS PERRIN |
Actuarial Services |
NA |
193 |
|||||
AIRBORNE EXPRESS |
Courier Services |
NA |
190 |
|||||
RR DONNELLEY FINANCIAL |
Financial Consulting Services |
NA |
176 |
|||||
VANGUARD FIDUCIARY TRUST |
Retirement Plan Services |
NA |
161 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 OUTSIDE SERVICES EMPLOYED - ACCOUNT 923 (Continued) |
|||||||||
From Whom Purchased |
Description |
Relationship "A"=Associate "NA"=Nonassociate |
Amount |
||||||
DLL SOLUTIONS INC |
Consulting Services |
NA |
160 |
||||||
CONTRACT ENVIRONMENTS INC |
Consulting and Design Services |
NA |
159 |
||||||
PRISM INTERNATIONAL |
Human Resources Service |
NA |
156 |
||||||
PROTECTION TECHNOLOGY INC |
Building Security Services |
NA |
149 |
||||||
CORPORATE INTERIORS OF DELAWARE INC |
Consulting Services |
NA |
133 |
||||||
TWENTY FIRST CENTURY COMMUNICATIONS |
Answering Services |
NA |
119 |
||||||
POWER PLAN |
Tax Service |
NA |
114 |
||||||
ARTHUR ANDERSEN LLP |
Consulting Services |
NA |
110 |
||||||
INTEGREYTED CONSULTANTS INC |
Consulting Services |
NA |
109 |
||||||
NEW YORK STOCK EXCHANGE |
Financial Services |
NA |
109 |
||||||
SIEGFIRED SCHIEFFER & SEITZ |
Financial Consulting Services |
NA |
107 |
||||||
NAVIGANT CONSULTING INC |
Consulting Services |
NA |
103 |
||||||
ABB INC |
Website Services |
NA |
102 |
||||||
ENTERPRISE INTEGRATION GROUP |
Consulting Services |
NA |
100 |
||||||
MISCELLANEOUS |
4,574 |
||||||||
(474 ITEMS LESS THAN $100,000) |
|||||||||
TOTAL |
$13,020 |
||||||||
GRAND TOTAL |
$45,965 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 EMPLOYEE PENSIONS AND BENEFITS - ACCOUNT 926 |
|||||
INSTRUCTIONS: |
Provide a listing of each pension plan and benefit program provided by the service company. Such listing should be limited to $25,000. |
||||
Description |
Amount |
||||
Pension |
$ 4,571 |
||||
Medical |
8,897 |
||||
OPEB expenses |
10,651 |
||||
Supplemental Executive Retirement Plan |
1,415 |
||||
Accrued Vacation |
2,200 |
||||
Life insurance |
334 |
||||
Dental |
872 |
||||
Vision |
201 |
||||
Savings & Thrift |
1,757 |
||||
Payroll tax expenses |
7,290 |
||||
Education Plan |
222 |
||||
Long-Term Disability |
(36) |
||||
Service Awards |
28 |
||||
Employee Association |
92 |
||||
Workman's Compensation Insurance |
909 |
||||
Administration Fees |
84 |
||||
Deferred Compensation |
2,426 |
||||
Employee deductions |
(1,324) |
||||
Other |
677 * |
||||
TOTAL |
$41,266 |
||||
* |
$556K represents transitional service company benefit costs uploaded from another system. |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 GENERAL ADVERTISING EXPENSES - ACCOUNT 930.1 |
|||||
INSTRUCTIONS: |
Provide a listing of the amount included in Account 930.1, "General Advertising Expenses", classifying the items according to the nature of the advertising and as defined in the account definition. If a particular class includes an amount in excess of $3,000 applicable to a single payee, show separately the name of the payee and the aggregate amount applicable thereto. |
||||
Description |
Name of Payee |
Amount |
|||
Radio Ads |
Stanton Communications |
$ 39 |
|||
Newspaper Ads |
National Advertising Placement |
35 |
|||
Bill Inserts |
Alfred Design |
18 |
|||
Miscellaneous |
30 |
||||
TOTAL |
$ 122 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 MISCELLANEOUS GENERAL EXPENSES - ACCOUNT 930.2 |
||||
INSTRUCTIONS: |
Provide a listing of the amount included in Account 930.2, "Miscellaneous General Expenses", classifying such expenses according to their nature. Payments and expenses permitted by Section 321(b) (2) of the Federal Election Campaign Act, as amended by Public Law 94-283 in 1976 (2 U.S.C. Section 441 (b) (2)) shall be separately classified. |
|||
Description |
Amount |
|||
Material expenses |
$1,027 |
|||
Meals & Entertainment |
869 |
|||
Small Tools and equipment |
668 |
|||
Building facilities work |
309 |
|||
Sponsorships/Associations |
163 |
|||
SAP maintenance costs |
64 |
|||
Contractor Consulting |
59 |
|||
Utilities expense |
49 |
|||
General liability claims |
30 |
|||
Office equipment, maintenance & software |
27 |
|||
Employee expense reimbursement |
24 |
|||
Logo items |
11 |
|||
Florist items |
7 |
|||
Membership Dues |
5 |
|||
Subscriptions |
3 |
|||
Other Miscellaneous expenses |
204 |
|||
$3,519 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 RENTS - ACCOUNT 931 |
||||
INSTRUCTIONS: |
Provide a listing of the amount included in Account 931, "Rents", classifying such expenses by major groupings of property, as defined in the definition of the Uniform System of Accounts. |
|||
Type of Property |
Amount |
|||
Office Equipment and Computers |
$ 8,582 |
|||
Office Rents |
6,945 |
|||
Vehicle Leases |
15 |
|||
Miscellaneous Rents |
4 |
|||
TOTAL |
$15,546 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 TAXES OTHER THAN INCOME TAXES - ACCOUNT 408 |
||||
INSTRUCTIONS: |
Provide an analysis of Account 408, "Taxes Other Than Income Taxes". Separate the analysis into two groups: (1) other than U.S. Government taxes, and (2) U.S. Government taxes. Specify each of the various kinds of taxes and show the amounts thereof. Provide a subtotal for each class of tax. |
|||
Kind of Tax |
Amount |
|||
(1) |
Other Than U.S. Government Taxes |
|||
City of Wilmington |
$ 18 |
|||
Property Taxes |
476 |
|||
SUBTOTAL |
$ 494 |
|||
(2) |
U.S. Government Taxes |
|||
$ - |
||||
SUBTOTAL |
$ - |
|||
TOTAL |
$ 494 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 (In Thousands) DONATIONS - ACCOUNT 426.1 |
|||||
INSTRUCTIONS: |
Provide a listing of the amount included in Account 426.1, "Donations", classifying such expenses by its purpose. The aggregate number and amount of all items of less than $3,000 may be shown in lieu of details. |
||||
Name of Recipient |
Purpose of Donation |
Amount |
|||
United Way |
Community Welfare |
$ 227 |
|||
Shore Memorial Hospital |
Community Welfare |
30 |
|||
Junior Achievement |
Community Welfare |
28 |
|||
The Nature Conservancy |
Land protection efforts |
23 |
|||
Stevens Institute of Technology |
Scholarship Fund |
20 |
|||
American Heart Association |
Community Welfare |
15 |
|||
University of Maryland Foundation |
Educational Fund |
15 |
|||
Kingswood Community Center |
Community Welfare |
15 |
|||
Community Foundation of Eastern Shore |
Community Welfare |
13 |
|||
New Jersey Press Foundation |
Community Welfare |
13 |
|||
March of Dimes |
Community Welfare |
12 |
|||
Good Neighbor Energy Fund |
Shareholder Fund Distribution |
11 |
|||
American Red Cross |
Community Welfare |
10 |
|||
Delaware Community Foundation |
Community Welfare |
8 |
|||
Jewish Community Center |
Community Welfare |
8 |
|||
Labor & Management Public Affairs Comm. |
Community Welfare |
6 |
|||
LPGA Urban Youth Golf Program |
Community Welfare |
6 |
|||
Camden County Mayors' Association |
Community Welfare |
5 |
|||
Children & Families First |
Community Welfare |
5 |
|||
Delaware Helpline |
Community Welfare |
5 |
|||
Delaware Technical & Community College |
Scholarship Fund |
5 |
|||
International Association of Fire Chiefs |
Community Welfare |
5 |
|||
Rutgers University |
Educational Fund |
5 |
|||
St. Francis Hospital |
Community Welfare |
5 |
|||
Union Hospital |
Community Welfare |
5 |
|||
Walnut Street Branch YMCA |
Community Welfare |
5 |
|||
Delaware Nature Society |
Community Welfare |
4 |
|||
Delmarva Scholarship Golf Classic |
Scholarship Fund |
4 |
|||
Reading is Fundamental |
Community Welfare |
4 |
|||
William P Frank Scholarship Fund |
Scholarship Fund |
4 |
|||
Catholic Charities |
Community Welfare |
3 |
|||
Cecil County Arts Council |
Community Welfare |
3 |
|||
Delaware Science Math & Technology |
Community Welfare |
3 |
|||
Jewish National Fund |
Community Welfare |
3 |
|||
Other Miscellaneous Donations |
100 |
||||
TOTAL |
$ 633 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 OTHER DEDUCTIONS - ACCOUNT 426.5 |
||||
INSTRUCTIONS: |
Provide a listing of the amount included in Account 426.5, "Other Deductions", classifying such expenses according to their nature. |
|||
Description |
Name of Payee |
Amount |
||
Loss on Disposal of Server |
$ 90 |
|||
|
||||
TOTAL |
$ 90 |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 SCHEDULE XVIII - NOTES TO STATEMENT OF INCOME |
|
INSTRUCTIONS: |
The space below is provided for important notes regarding the statement of income or any account thereof. Furnish particulars as to any significant increase in services rendered or expenses incurred during the year. Notes relating to financial statements shown elsewhere in this report may be indicated here by reference. |
See Notes to Financial Statements, Schedule XIV, pages 19-20 |
Organization Chart |
John M. Derrick |
Thomas S. Shaw |
William T. Torgerson |
Andrew W. Williams |
Barbara S. Graham |
Joseph M. Rigby |
William H. Spence |
Anthony J. Kamerick |
James P. Lavin |
Michael Ratchford |
Denis M. Canty |
Albert F. Kirby |
Ellen Sheriff Rogers |
Donna J. Kinzel |
Jeffery E. Snyder |
Diana C. DeAngelis |
Nina J. Clements |
PHI Service Company Current Methods of Allocation |
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Described below are the methods used to allocate costs of the Service Company to Client Companies which cannot practicably be direct charged. |
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Service Department |
Basis of Allocation * |
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Executive Management |
Blended ratio |
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Procurement & Supply Chain |
Material stock expense ratio |
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Vehicle Resource Management |
Vehicle $ ratio |
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Facilities Services |
Square footage ratio for office space and non-office space |
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Document Services |
Employee ratio |
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Real Estate |
Real estate investment ratio |
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Security |
Labor $ ratio |
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Insurance Administration |
Blended ratio |
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Claims Administration |
Historical claims ratio |
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Regulatory Affairs |
Utility cost ratio |
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CLS Financial Support |
Blended ratio |
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Property insurance and miscellaneous insurance coverage |
Asset cost ratio |
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General liability insurance |
Labor $ ratio |
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Directors and Officers insurance |
Asset cost ratio |
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Cost of Benefits |
Employee ratio |
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* Definitions of ratios follows Methods of Allocation pages |
PHI Service Company Current Methods of Allocation (continued) |
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Service Department |
Basis of Allocation * |
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Compensation and Benefits Services |
Employee ratio |
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Personnel, Employment and Staffing |
Employee ratio |
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Employee/Labor Relations |
Employee ratio |
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Training and Management Development |
Employee ratio |
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Performance Improvement |
Employee ratio |
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Organizational Development |
Employee ratio |
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Legal Services |
Actual legal direct labor charges |
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Audit Services |
O&M ratio |
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Management of Customer Care |
Number of customers ratio |
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Special Billing |
Number of special bills ratio |
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Corporate Marketing |
O&M ratio |
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Voice Service |
Telephone ratio |
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Data Management |
Storage ratio |
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Operations Management |
CPU time ratio |
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Applications Support |
End user ratio |
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Desktop/Network Support |
End user ratio |
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IS General Management and Administration |
Blended ratio |
PHI Service Company Current Methods of Allocation (continued) |
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Service Department |
Basis of Allocation * |
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Public Affairs |
O&M ratio |
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Environmental & Safety |
Blended ratio |
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Delivery Services |
T&D O&M ratio |
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System Operations Services |
Kwh Output ratio |
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Maintenance Services |
Kwh Output ratio |
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Other Delivery Services |
T&D O&M ratio |
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Energy Business Management and Administration |
O&M ratio |
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Merchant Functions |
Merchant Cost ratio |
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Supply Engineering and Support |
O&M ratio |
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Fuel Supply Function |
Kwh generated ratio |
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Accounts Payable Accounting Services |
Number of checks issued ratio |
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Payroll Accounting Services |
Number of employees paid ratio |
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Asset & Project Accounting Services |
Asset system cost ratio |
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All Other Financial Services |
O&M ratio |
Definition of Service Company Current Allocation Methods |
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Ratio Title |
Ratio Description |
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Employee Ratio |
A ratio the numerator of which is the number of employees of a Client Company, the denominator of which is the number of employees in all Client Companies using the service. This ratio will be calculated quarterly. |
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Square Footage Ratio |
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office space |
A ratio the numerator of which is the number of square feet of office space occupied by a Client Company, the denominator of which is the total number of square feet of office space occupied by all Client Companies using the service. |
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non-office space |
A ratio the numerator of which is the number of square feet of non-office space occupied by a Client Company, the denominator of which is the total number of square feet of non-office space occupied by all Client Companies using the service. |
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Telephone Ratio |
A ratio the numerator of which is the number of telephones used by a Client Company, the denominator of which is the number of telephones used by all Client Companies using the service. |
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CPU Time Ratio |
A ratio the numerator of which is the number of hours of CPU time used for a particular system application, the denominator of which is the total number of CPU hours used by all companies. Costs are allocated to Orders based on this ratio. That cost is then either included in the cost of other Service Company services or directly routed to the appropriate Client Company. |
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End User Ratio |
A ratio the numerator of which is the number of users of computer systems within a Client Company, the denominator of which is the total number of users of computer systems within all Client Companies using the service. |
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Labor $ Ratio |
A ratio the numerator of which is the amount of labor $ of a Client Company, the denominator of which is total labor $ for all Client Companies using the service. This ratio will be calculated monthly. |
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Historical Claims Ratio |
A ratio the numerator of which is the total claims expense of a Client Company, the denominator of which is the total claims expense for all Client Companies using the service. |
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Asset Cost Ratio |
A ratio the numerator of which is the total cost of assets in a Client Company, the denominator of which is the total costs of assets for all Client Companies using the service. Assets are limited to plant, property and investments. |
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O&M Ratio |
A ratio the numerator of which is the total direct (i.e., excludes charges allocated by the Service Company) operations and maintenance expense, excluding depreciation and fuel costs, of a Client Company, the denominator of which is total direct operations and maintenance expense, excluding depreciation and fuel costs, of all Client Companies using the service. |
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Revenue Ratio |
A ratio the numerator of which is the total revenues of a Client Company, the denominator of which is the total number of customers for all the Client Companies using the service. |
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Number of Customers Ratio |
A ratio the numerator of which is number of customers served by a Client Company, the denominator of which is the total number of customers for all Client Companies using the service. |
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Number of Utility Customers Ratio |
A ratio the numerator of which is number of utility customers served by a Client Company, the denominator of which is the total number of utility customers for all Client Companies using the service. |
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Nuclear Installed Capacity Ratio |
A ratio the numerator of which is the nuclear facility installed capacity of a Client Company, the denominator of which is the total nuclear facility installed capacity of all Client Companies using the service. |
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Materials Stock Expense Ratio |
A ratio the numerator of which is the materials stock expense of a Client Company, the denominator of which is the total materials stock expense of all Client Companies using the service. |
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Real Estate Investment |
A ratio the numerator of which is the cost of real estate leases and land and buildings owned by a Client Company, the denominator of which is the total cost of real estate leases and land and buildings for all Client Companies using the service. |
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Number of Special Bills Ratio |
A ratio the numerator of which is the number of special bills issued for a Client Company, the denominator of which is the total number of special bills issued for all Client Companies. |
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Utility Asset Cost Ratio |
A ratio the numerator of which is the total cost of utility assets in a Client Company, the denominator of which is the total costs of utility assets for all Client Companies using the service. |
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T&D O&M Ratio |
A ratio the numerator of which is the total direct (i.e., excludes charges allocated by the Service Company), operations and maintenance expense, excluding depreciation and fuel costs, of a Transmission and Distribution Client Company, the denominator of which is total direct operations and maintenance expense, excluding depreciation and fuel costs, of all Transmission and Distribution Client Companies. |
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Kwh Generated Ratio |
A ratio the numerator of which is the number of kilowatt hours generated by a Client Company, the denominator of which is the total number of kilowatt hours generated by all Client Companies using the service. |
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Kwh Output Ratio |
A ratio the numerator of which is the number of kilowatt hours purchased and generated by a Client Company, the denominator of which is the total number of kilowatt hours purchased and generated by all Client Companies using the service. |
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Merchant Cost Ratio |
A ratio the numerator of which is the dollar amount of direct charges of the merchant function to a specific Client Company, the denominator of which is the total dollar amount of direct charges of the merchant function to all Client Companies using the service. |
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Vehicle $ Ratio |
A ratio the numerator of which is the dollar amount of vehicle charges in a specific Client Company, the denominator of which is the total amount of vehicle charges in all Client Companies using the services. |
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Blended Ratio |
A composite ratio which is comprised of an average of the Employee Ratio, the Labor $ Ratio, and the Asset Cost Ratio, for all Client Companies using the service. |
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Number of Checks Issued Ratio |
A ratio the numerator of which is the number of checks issued for a Client Company, the denominator of which is the total number of checks issued for all Client Companies using the service. |
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Number of Employees Paid Ratio |
A ratio the numerator of which is the number of employees paid for a Client Company, the denominator of which is the total number of employees paid for all Client Companies using the service. |
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Asset System Cost Ratio |
A ratio the numerator of which is the total cost of assets for a Client Company on the asset & project system, the denominator of which is the total cost of assets for all Client Companies using the service on the asset & project system. |
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Data Storage Ratio |
A ratio the numerator of which is the gigabytes of data storage space used for a particular system application, the denominator of which is the total gigabytes of data storage space used for all system applications. Costs are allocated to Orders or Cost Centers based on this ratio. That cost is then either included in the cost of other Service Company services or directly routed to the appropriate Client Company. |
ANNUAL REPORT OF: PHI Service Company For the Year Ended December 31, 2002 ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED |
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Company |
Percent |
Allocation of Indirect Interest * |
Total Allocation of Interest |
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Delmarva Power & Light Company |
43.2% |
$435 |
$435 |
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Atlantic City Electric Company |
35.3% |
355 |
355 |
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Conectiv Properties and Investments, Inc. |
0.2% |
2 |
2 |
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Conectiv Energy Supply, Inc. |
2.3% |
24 |
24 |
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Conectiv Operating Services Company |
4.4% |
44 |
44 |
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Conectiv Delmarva Generation, Inc. |
11.6% |
117 |
117 |
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Conectiv Atlantic Generation, LLC |
1.6% |
16 |
16 |
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Conectiv Bethlehem LLC |
0.1% |
1 |
1 |
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Atlantic Southern Properties |
0.2% |
2 |
2 |
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Thermal Energy Limited Partnership |
0.8% |
8 |
8 |
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Conectiv Thermal Systems |
0.3% |
3 |
3 |
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TOTAL |
100.0% |
$1,007 |
$1,007 |
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* Reflects average BLENDED rate for the year. |
ANNUAL REPORT OF: PHI Service Company |
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SIGNATURE CLAUSE |
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Pursuant to the requirements of the Public Utility Holding Company Act of 1935 and the rules and regulations of the Securities and Exchange Commission issued thereunder, the undersigned company has duly caused this report to be signed on its behalf by the undersigned officer thereunto duly authorized. |
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PHI Service Company (Name of Reporting Company) |
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By: /s/ JAMES P. LAVIN |
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James P. Lavin, Controller (Printed Name and Title of Signing Officer) |
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Date: April 30, 2003 |