AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 26864
FOR THE QUARTER ENDED MARCH 31, 2003
1) Aggregate Investment, for which there is recourse to AEP Co., Inc., in
Exempt Wholesale Generators (EWG) and Foreign Utility Companies (FUCO)
(in millions)
EWG Investment $ 161
FUCO Investment 1,605
------
Total Aggregate Investment
in EWG's and FUCO's $1,766
Components of statement of aggregate investment in EWG and FUCO's are filed
under confidential treatment pursuant to Rule 104(b).
2) Aggregate Investment as a Percentage of the Following Items
(in millions) %
Total Capitalization $22,408* 7.9%
Net Utility Plant 20,558 8.6%
Total Assets 36,901 4.8%
Market Value of Common Equity 9,026 19.6%
*Includes Long-term Debt Due Within One Year and Short-term Debt.
3) Consolidated Capitalization Ratio
(in millions) %
Short-term Debt $ 239
Long-term Debt 12,132*
-------
Total Debt 12,371 55.2%
-------
Equity Unit Senior Notes 376 1.7%
-------
Certain Subsidiary Obligated,
Mandatorily Redeemable,
Preferred Securities of
Subsidiary Trusts Holding
Solely Junior Subordinated
Debentures of Such
Subsidiaries 321 1.4%
-------
Minority Interest in
Finance Subsidiary 759 3.4%
-------
Preferred Stock 144 0.6%
-------
Common Stock 2,626
Paid-in Capital 4,175
Accumulated Other Comprehensive
Income (602)
Retained Earnings 2,238
-------
Total Common Equity 8,437 37.7%
-------
Total Capitalization $22,408 100.0%
=======
* Includes Long-term Debt Due Within One Year.
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 26864
FOR THE QUARTER ENDED MARCH 31, 2003
4) Market-to-book Ratio of AEP Common Stock
Closing Market Price per Share $22.85
Book Value per Share $21.36
Market-to-book Ratio of Common Stock 107%
5) Analysis of Growth in Retained Earnings
Statement of analysis of growth in retained earnings is filed under confidential
treatment pursuant Rule 104(b).
6) Statement of Revenues and Net Income for each EWG and FUCO
Statement of revenues and net income for the following EWG's and FUCO's are
filed under confidential treatment pursuant to Rule 104(b):
CitiPower Pty.
Nanyang General Light Electric Co., Ltd.
Pacific Hydro Ltd.
AEP Energy Services Limited
AEP Energy Services UK Generation Limited
AEP Energy Services Nordic SA
InterGen Denmark, Aps
CSW Vale L.L.C.
South Coast Power Limited
Trent Wind Farm, Limited Partnership
Newgulf Power Venture, Inc.
Desert Sky Wind Farm LP