(Internet version) Financial & Statistical Report November 2018 12/17/2018
Statement of Operations For the Period Ended November 30, 2018 (in millions) Current Month Year-to-Date Operating Revenue $ 31.4 $ 410.8 Purchased Power 22.6 276.0 Operation & Maintenance 4.8 65.9 Depreciation, Taxes, & Interest 4.5 49.9 Operating Margins $ (0.5) $ 19.0 Non-Operating Margins 5.6 25.8 Patronage or Margins $ 5.1 $ 44.8 Page 1
Balance Sheet As of November 30, 2018 (in millions) Assets & Other Debits Last Year Current Year Total Utility Plant 931.5 906.7 Depreciation & Amortization 306.7 264.9 Net Utility Plant 624.8 641.8 Other Property & Investments 232.9 239.9 Current & Accrued Assets 47.0 47.8 Other Deferred Debits 11.3 13.6 Total Assets & Other Debits $ 916.1 $ 943.0 Liabilities & Other Credits Last Year Current Year Margins & Equities 346.9 371.5 Long-Term Debt 394.7 411.1 Other Noncurrent Liabilities 89.0 95.3 Current & Accrued Liabilities 79.3 59.2 Deferred Credits 6.2 5.9 Total Liabilities & Other Credits $ 916.1 $ 943.0 Page 2
Statement of Operations For the Period Ended November 30, 2018 Current Month Year-to-Date Actual Actual 1 Operating Revenue $ 31,358,088 $ 410,835,379 2 Power Production Expense 0 0 3a Cost of Purchased Power 20,030,179 246,928,696 3b Other Purchased Power Expense 2,544,585 29,052,011 Subtotal - Purchased Power (2 and 3) $ 22,574,764 $ 275,980,706 5 Distribution Expense - Operation 570,707 9,695,771 6 Distribution Expense - Maintenance 1,073,666 20,886,968 7 Consumer Accounts Expense 1,080,805 12,482,485 8 Customer Service and Informational Expense 118,541 1,209,820 9 Sales Expense 111,035 1,254,056 10 Administrative and General Expense 1,843,846 20,376,499 Subtotal (5 through 10) $ 4,798,601 $ 65,905,600 11 Total Operation and Maintenance Expense (2 through 10) $ 27,373,365 $ 341,886,306 12 Depreciation and Amortization Expense 2,432,819 26,361,203 13 & 14 Tax Expense 295,270 3,250,620 15 a & b Interest on Long-Term Debt/Amortizations 1,764,000 19,506,276 15 c Amortization of Gain in Debt Prepayment (26,058) (286,638) 17 Interest - Other 0 0 Interest on Short-Term Debt 20,539 788,497 18 Other Deductions 26,166 305,169 19 Total Cost of Electric Service (11 through 18) $ 31,886,100 $ 391,811,433 20 Patronage and Operating Margins (1 minus 19) $ (528,012) $ 19,023,946 21 Non-Operating Margins - Interest 126,439 1,365,344 23 Income/(Loss) from Equity Investments 4,799,815 14,995,644 24 Non-Operating Margins - Other 109,301 1,079,805 25 & 26 Generation and Transmission / Other Margins 544,333 8,367,906 27 Extraordinary Items 0 0 28 Patronage or Margins (20 through 27) $ 5,051,878 $ 44,832,644 Page 3
Data on Transmission and Distribution Plant For the Period Ended November 30, 2018 Last Year Current Year 1 New Services Connected 3,294 2,207 2 Services Retired 1,663 582 3 Total Services in Place 209,950 211,929 4 Idle Services (Exclude Seasonal) 3,991 4,101 5 Miles Transmission 0.00 0.00 6 Miles Distribution - Overhead 2,548.27 2,547.15 7 Miles Distribution - Underground 6,587.56 6,654.60 8 Total Miles Energized (5+6+7) 9,135.83 9,201.75 Total kwh Sold (Current Month) 276,123,936 279,357,290 Total kwh Sold (Year-to-Date) 3,608,598,598 3,835,515,642 Total kwh Purchased (Current Month) 264,834,613 278,957,121 Total kwh Purchased (Year-to-Date) 3,659,743,313 3,870,209,527 Consumers per Mile 22.54 22.59 Page 4
Balance Sheet As of November 30, 2018 Assets and Other Debits Last Year Current Year % Change 1 Total Utility Plant in Service 902,801,207 878,231,220 2 Construction Work in Progress 28,713,616 28,461,608 3 Total Utility Plant (1 + 2) $ 931,514,823 $ 906,692,828-2.66% 4 Accum. Provision for Depreciation and Amort. 306,688,392 264,900,932 5 Net Utility Plant (3-4) $ 624,826,432 $ 641,791,896 2.72% 8 Invest. in Assoc. Org. - Patronage Capital 170,823,670 178,426,441 9 Invest. in Assoc. Org. - Other - General Funds 0 0 10 Invest. in Assoc. Org. - Other - Nongeneral Funds 31,871,500 30,501,219 12 Other Investments 27,679,257 30,056,447 13 Special Funds 2,567,655 906,743 14 Total Other Property and Investments (6 through 13) $ 232,942,082 $ 239,890,849 2.98% 15 Cash - General Funds 5,960,880 4,148,873 17 Special Deposits 0 0 18 Temporary Investments 412,145 610,668 20 Accounts Receivable - Net Sales of Energy 19,401,372 19,872,325 21 Accounts Receivable - Net Other 13,534,522 14,626,974 22 Materials and Supplies - Electric and Other 4,564,819 5,711,622 23 Prepayments 971,303 1,033,868 24 Other Current and Accrued Assets 2,189,399 1,760,930 25 Total Current and Accrued Assets (15 through 24) $ 47,034,440 $ 47,765,260 1.55% 27 Other Deferred Debits $11,346,826 $13,568,670 29 Total Assets and Other Debits (5 + 14 + 25 + 27) $ 916,149,779 $ 943,016,675 2.93% Page 5
Balance Sheet As of November 30, 2018 Liabilities and Other Credits Last Year Current Year % Change 30 Memberships 478,505 457,180 31 Patronage Capital 304,486,607 304,459,601 33a Operating Margins - Current Year 20,346,460 19,023,946 33b Capital Credit Contribution to Margins 8,191,038 8,367,906 34 Non-Operating Margins 5,275,618 17,440,793 35 Other Margins and Equities 8,073,544 21,782,855 36 Total Margins and Equities (30 through 35) $ 346,851,772 $ 371,532,281 7.12% 37a Long-Term Debt - CFC (Net) 394,716,000 411,099,703 Payments - Unapplied 0 0 37b Long-Term Debt - Other (Net) 0 0 Payments - Unapplied 0 0 38 Total Long-Term Debt (37a + 37b) $ 394,716,000 $ 411,099,703 4.15% 39 Obligations Under Capital Leases 212,194 72,394 40 Accumulated Operating Provisions 88,786,625 95,183,797 41 Total Other Noncurrent Liabilities (39 + 40) $ 88,998,819 $ 95,256,191 7.03% 42 Notes Payable 22,800,000 6,300,000 43 Accounts Payable 28,564,359 28,014,186 44 Consumers Deposits 13,144,472 13,355,071 45 Other Current and Accrued Liabilities 14,831,286 11,555,966 46 Total Current and Accrued Liabilities (42 through 45) $ 79,340,117 $ 59,225,224-25.35% 47a Deferred Revenue 0 0 47b Other Regulatory Liabilities 17,311 17,311 48 Unamortized Gain on Reacquired Debt 1,576,114 1,261,245 49 Other Deferred Credits 4,649,646 4,624,720 50 Accumulated Deferred Income Taxes 0 0 51 Total Liabilities and Other Credits (36 + 38 + 41 + 46 through 50) $ 916,149,779 $ 943,016,675 2.93% Page 6
Monthly Trend Analysis kwh Sold 550 500 450 400 kwh Sold (in Millions) 350 300 250 200 150 100 50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 311.1112 278.1681 262.2857 257.1683 266.7287 344.9018 395.3745 404.7627 402.8323 297.5794 265.3422 293.3039 2014 332.6792 316.1742 248.8847 242.4044 272.2857 355.4857 408.0528 404.5233 419.3478 305.0186 270.9633 262.5437 2015 308.0034 284.0940 278.6913 264.3170 263.8417 353.7351 463.9173 478.7287 404.3524 295.8473 244.6378 272.0306 2016 308.6042 283.5567 285.2921 265.9469 271.1619 365.5160 492.2743 481.0128 490.5838 360.8238 261.7190 278.4230 2017 300.5438 264.7207 241.3235 284.2230 280.8527 372.0179 405.3012 446.6104 412.5512 324.3304 276.1239 257.6358 2018 338.9440 316.2159 248.7736 269.0732 272.5602 407.1510 426.3244 451.9646 450.9456 374.2058 279.3573 Page 7