American Electric Power |
|
|
|
|
Major Changes in
Earnings Per Share for 2nd Quarter 2001 vs. 2nd Quarter 2000 |
|
(Data based on
preliminary, unaudited results) (a) |
|
|
|
|
2001 |
|
2000 |
|
Variance |
|
|
|
|
Wholesale:
(b) (c) |
|
|
Gross Margin - Energy Sales |
|
1.76 |
|
1.71 |
|
0.05 |
|
|
|
|
Gross Margin - Trading
and Marketing: |
|
|
|
|
|
|
Power |
|
0.28 |
|
0.13 |
|
0.15 |
|
|
|
|
Gas |
|
0.26 |
|
0.02 |
|
0.24 |
|
|
|
|
Cook Restart &
Jurisdictional Settlements |
(0.06) |
|
(0.24) |
|
0.18 |
|
|
|
|
O&M Expense |
|
(0.90) |
|
(0.77) |
|
(0.13) |
|
|
|
Depreciation &
Amortization |
|
(0.28) |
|
(0.28) |
|
0.00 |
|
|
|
|
Taxes Other Than FIT |
|
(0.18) |
|
(0.15) |
|
(0.03) |
|
|
|
|
Other |
|
(0.06) |
|
(0.04) |
|
(0.02) |
|
|
|
|
Total Wholesale |
|
0.82 |
|
0.38 |
|
0.44 |
|
|
|
Energy
Delivery: (b) (d) |
|
|
|
|
|
|
|
|
|
|
Revenue |
|
1.61 |
|
1.59 |
|
0.02 |
|
|
|
|
O&M Expense |
|
(0.58) |
|
(0.55) |
|
(0.03) |
|
|
|
Depreciation &
Amortization |
|
(0.28) |
|
(0.24) |
|
(0.04) |
|
|
|
|
Taxes Other Than FIT |
|
(0.20) |
|
(0.20) |
|
0.00 |
|
|
|
|
Total Energy Delivery |
|
0.55 |
|
0.60 |
|
(0.05) |
|
|
|
Other
Investments: |
|
|
|
|
|
|
|
|
|
|
SEEBOARD |
|
0.06 |
|
0.06 |
|
0.00 |
|
|
|
|
CitiPower |
|
0.01 |
|
0.01 |
|
0.00 |
|
|
|
|
Other |
|
(0.06) |
|
(0.05) |
|
(0.01) |
|
|
|
|
Total Other Investments |
|
0.01 |
|
0.02 |
|
(0.01) |
|
|
|
|
|
|
|
|
|
|
|
|
Capital
Costs |
|
(0.49) |
|
(0.52) |
|
0.03 |
|
|
|
|
On-going
Earnings |
|
0.89 |
|
0.48 |
|
0.41 |
|
|
Extraordinary
and Special Items: |
|
|
Merger Costs |
|
(0.01) |
|
(0.45) |
|
0.44 |
|
|
Extraordinary Item -
Dscnt SFAS 71 |
|
- |
|
0.03 |
|
(0.03) |
|
|
Extraordinary Item - Ohio
Gross Receipts Tax |
(0.15) |
|
- |
|
(0.15) |
|
|
Yorkshire |
|
- |
|
0.02 |
|
(0.02) |
|
|
Other Investment
Write-offs |
|
(0.01) |
|
(0.11) |
|
0.10 |
|
|
|
|
|
|
|
|
Reported
Earnings Per Share |
|
0.72 |
|
(0.03) |
|
0.75 |
|
|
Footnotes: |
|
a)
For analysis purposes, certain financial statement amounts have been
reclassified |
|
for this effect on earnings
presentation. |
|
|
b)
The data presented for the Wholesale and Energy Delivery business
segments represent |
|
on-going earnings before interest
expense, on an after tax (35%) basis, using outstanding |
|
shares of 321.7 million and 322.2
million for 2000 and 2001, respectively. |
|
|
c)
Wholesale includes wholesale sales in the U. S., the generation
component of sales to |
|
domestic retail customers,
worldwide trading, and other related businesses |
|
including Pro Serv, AEP Energy
Services, CSW Energy, and LIG. |
|
|
d)
Energy Delivery includes the domestic electric transmission and
distribution businesses. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|