American Electric Power |
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Major Changes
in Earnings Per Share for 3rd Quarter 2001 vs. 3rd Quarter 2000 |
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(Data based on
preliminary, unaudited results) (a) |
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2001 |
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2000 |
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Variance |
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Wholesale: (b)
(c) |
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Gross
Margin - Energy Sales |
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1.85 |
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1.95 |
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(0.10) |
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Gross Margin - Trading and Marketing: |
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Power |
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0.22 |
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0.37 |
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(0.15) |
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Gas |
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0.32 |
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0.05 |
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0.27 |
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Cook Restart & Jurisdictional Settlements |
(0.07) |
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(0.15) |
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0.08 |
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O&M Expense |
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(0.85) |
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(0.82) |
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(0.03) |
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Gas Holding Co. Costs |
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(0.08) |
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(0.03) |
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(0.05) |
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Depreciation & Amortization |
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(0.28) |
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(0.27) |
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(0.01) |
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Taxes Other Than FIT |
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(0.16) |
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(0.17) |
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0.01 |
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Other |
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0.03 |
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0.04 |
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(0.01) |
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Total Wholesale |
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0.98 |
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0.97 |
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0.01 |
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Energy
Delivery: (b) (d) |
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Revenue |
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1.83 |
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1.72 |
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0.11 |
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O&M Expense |
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(0.52) |
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(0.54) |
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0.02 |
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Depreciation & Amortization |
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(0.25) |
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(0.27) |
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0.02 |
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Taxes Other Than FIT |
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(0.26) |
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(0.21) |
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(0.05) |
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Total Energy Delivery |
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0.80 |
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0.70 |
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0.10 |
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Other
Investments: |
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SEEBOARD |
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0.06 |
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0.04 |
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0.02 |
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CitiPower |
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(0.02) |
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0.02 |
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(0.04) |
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Other |
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0.01 |
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(0.05) |
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0.06 |
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Total Other Investments |
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0.05 |
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0.01 |
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0.04 |
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Capital Costs |
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(0.40) |
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(0.41) |
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0.01 |
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On-going
Earnings |
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1.43 |
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1.27 |
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0.16 |
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Extraordinary
and Special Items: |
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Merger Costs |
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(0.01) |
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(0.04) |
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0.03 |
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SFAS 133 Transition Adj. |
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0.05 |
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- |
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0.05 |
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Severance Accruals |
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(0.09) |
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- |
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(0.09) |
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Taxes Other Than FIT - Prior Period Adj. |
(0.03) |
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- |
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(0.03) |
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Extraordinary Item - Dscnt SFAS 71 |
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- |
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(0.14) |
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0.14 |
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Disposition / Writedown of Assets |
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(0.04) |
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0.02 |
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(0.06) |
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Reported
Earnings Per Share |
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1.31 |
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1.11 |
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0.20 |
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Footnotes: |
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a)
For analysis purposes, certain financial statement amounts have been
reclassified |
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for this effect on earnings
presentation. |
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b)
The data presented for the Wholesale and Energy Delivery business
segments represent |
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on-going earnings before interest
expense, on an after tax (35%) basis, using outstanding |
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shares of 322.0 million and 322.2
million for 2000 and 2001, respectively. |
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c)
Wholesale includes wholesale sales in the U. S., the generation
component of sales to |
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domestic retail customers,
worldwide trading, and other related businesses |
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including Pro Serv, AEP Energy
Services, CSW Energy, and LIG. |
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d)
Energy Delivery includes the domestic electric transmission and
distribution businesses. |
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