The Laclede Group, Inc.
File No. 1-16681
FORM U-3A-2
Statement by Holding Company Claiming Exemption
Under Rule U-3A-2 from the Provisions of the
Public Utility Holding Company Act of 1935
THE LACLEDE GROUP, INC.
(name of company)
hereby files with the Securities and Exchange Commission, pursuant
to Rule 2, its statement claiming exemption as a holding company from the
provisions of the Public Utility Holding Company Act of 1935, and submits
the following information:
1. Name, state of organization, location and nature of business of
claimant and every subsidiary thereof, other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly or
indirectly holds an interest.
The Laclede Group, Inc., a Missouri corporation incorporated October 18,
2000, is a holding company that directly or indirectly holds interests in
the following subsidiaries, each of whom is organized under the laws of the
State of Missouri, except for SM&P Utility Resources, Inc., acquired January
28, 2002 and incorporated under the laws of the State of Indiana:
a. Laclede Gas Company, a public utility that was incorporated
in 1857. Its service area includes the City of St. Louis,
St. Louis County, the City of St. Charles and parts of St.
Charles County, the town of Arnold, and parts of Jefferson,
Franklin, St. Francois, Ste. Genevieve, Iron, Madison and
Butler Counties, all in Missouri.
b. Laclede Pipeline Company, which operates a propane pipeline
that connects Laclede Gas' propane storage facilities in
St. Louis County, Missouri to propane supply terminal
facilities located at Wood River and Cahokia, Illinois.
Laclede Gas vaporizes the propane to supplement its natural
gas supply and meet the peak demands on its distribution
system.
c. Laclede Investment LLC, which invests in other enterprises
and has made loans to several joint ventures engaged in
real estate development.
d. Laclede Energy Resources, Inc., a wholly owned subsidiary
of Laclede Investment, which engages in non-utility efforts
to market natural gas and related activities.
e. Laclede Gas Family Services, Inc., a wholly owned
subsidiary of Laclede Energy Resources, which is a
registered insurance agency in the State of Missouri, that
promotes the sale of insurance-related products.
f. Laclede Development Company, which participates in real
estate developments, primarily through joint ventures.
g. Laclede Venture Corp., a wholly owned subsidiary of Laclede
Development, which offers services for the compression of
natural gas to third parties who desire to use or to sell
compressed natural gas in vehicles.
h. SM&P Utility Resources, Inc., which is in the underground
locating and marking service business.
The business address of the claimant and each of its
subsidiaries, except Laclede Energy Resources, Inc. and SM&P Utility
Resources, Inc., is:
720 Olive Street
St. Louis, MO 63101
The business address of Laclede Energy Resources, Inc. is:
68 N. Elam
St. Louis, MO 63088
The business address of SM&P Utility Resources, Inc. is:
11455 N. Meridian Street, Suite 200
Carmel, IN 46032
2. A brief description of the properties of claimant and each of
its subsidiary public utility companies used for the generation,
transmission and distribution of electric energy for sale, or for the
production, transmission, and distribution of natural or manufactured gas,
indicating the location of principal generating plants, transmission lines,
producing fields, gas manufacturing plants, and electric and gas
distribution facilities, including all such properties which are outside the
State in which claimant and its subsidiaries are organized and all
transmission or pipelines which deliver or receive electric energy or gas at
the borders of such State.
The Claimant's properties consist primarily of the utility
properties of Laclede Gas. Laclede Gas' properties consist primarily of
natural gas distribution systems and related facilities and local offices
all in the State of Missouri. As of December 31, 2001, Laclede Gas had a
natural gas storage field in Missouri designed to provide annual withdrawals
of approximately 5.5 million MMBtus of gas based on the inventory level that
Laclede Gas plans to maintain; a contractual right to store approximately
23.1 Bcf of natural gas in Louisiana and a liquefied propane storage cavern
that has a natural gas equivalent of approximately 3 Bcf.
3. The following information for the last calendar year with
respect to claimant and each of its subsidiary public utility companies.
a. Number of kwh. of electric energy sold (at retail or
wholesale), and mcf. of natural gas or manufactured gas
distributed at retail.
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None 73,877,445 Mcf.
2
b. Number of kwh. of electric energy and Mcf. of natural or
manufactured gas distributed at retail outside the State
in which each such company is organized.
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None. None
c. Number of kwh. of electric energy and Mcf. of natural or
manufactured gas sold at wholesale outside the State in
which each such company is organized, or at the State
line.
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None 6,204,846 Mcf
d. Number of kwh. of electric energy and Mcf. of natural or
manufactured gas purchased outside the State in which each
such company is organized or at the State line.
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None. 93,559,802 Mcf.
4. The following information for the reporting period with respect
to claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States dollars:
a. Name, location, business address and description of the
facilities used by the EWG or foreign utility company for
the generation, transmission and distribution of electric
energy for sale or for the distribution at retail of
natural or manufactured gas.
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None None
b. Name of each system company that holds an interest in such
EWG or foreign utility company and description of the
interest held.
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None None
c. Type and amount of capital invested, directly or
indirectly, by the holding company claiming exemption; any
direct or indirect guarantee of the security of the EWG or
foreign utility company by the holding company claiming
exemption; and any debt or other financial obligation for
which there is recourse, directly or indirectly, to the
holding
3
company claiming exemption or another system company,
other than the EWG or foreign utility company.
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None None
d. Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None. None
e. Identify any service, sales or construction contract(s)
between the EWG or foreign utility company and a system
company, and describe the services to be rendered or goods
sold and fees or revenues under such agreement(s).
CLAIMANT SUBSIDIARY
-------- ----------
The Laclede Group, Inc. Laclede Gas Company
None. None.
EXHIBIT A
A consolidating statement of income and surplus of the claimant and
its subsidiary companies for the last calendar year, together with a
consolidating balance sheet of claimant and its subsidiary companies as of
the close of such calendar year. The reorganization by which The Laclede
Group, Inc. became the holding company of Laclede Gas Company became
effective on October 1, 2001.
EXHIBIT B
An organizational chart showing the relationship of each EWG or
foreign utility company to associate companies in the holding company
system.
None.
The above-named claimant has caused this statement to be duly
executed on its behalf by its authorized officer on this 27th day of
February, 2002.
The Laclede Group, Inc.
By: /s/ Gerald T. McNeive, Jr.
-----------------------------
Senior Vice President-Finance
Corporate Seal and General Counsel
Attest:
/s/ M.C. Kullman
--------------------
4
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Gerald T. McNeive, Jr.
Senior Vice President Finance and General Counsel
720 Olive Street
Room 1522
St. Louis, MO 63101
5
EXHIBIT A
---------
THE LACLEDE GROUP, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS
DECEMBER 31, 2001
(UNAUDITED)
(THOUSANDS OF DOLLARS)
The Laclede
Laclede Laclede Laclede Group, Inc.
The Laclede Laclede Pipeline Development Investment, and Subsidiary
Group, Inc. Gas Company Company Company LLC Eliminations Companies
----------- ----------- -------- ----------- ----------- ------------ --------------
ASSETS
Utility Plant $ - $ 959,576 $ - $ - $ - $ - $ 959,576
Less: Accumulated depreciation and
amortization - 384,422 - - - - 384,422
--------- ----------- ------- ------- -------- ---------- -----------
Net Utility Plant - 575,154 - - - - 575,154
--------- ----------- ------- ------- -------- ---------- -----------
Other Property and Investments 289,486 25,992 2,942 4,322 729 (289,486) 33,985
--------- ----------- ------- ------- -------- ---------- -----------
Current Assets:
Cash and cash equivalents - 3,366 (2) 339 2,687 - 6,390
Notes Receivable - - - 4,362 3,459 (7,821) -
Accounts receivable - net 6,324 121,970 5,749 - 6,432 (14,437) 126,038
Materials, supplies, and merchandise - 5,739 37 - - - 5,776
Natural gas stored underground for
current use - 72,459 - - 42 - 72,501
Propane gas for current use - 14,187 - - - - 14,187
Prepayments and other - 5,403 - 45 - - 5,448
Deferred income taxes - 11,748 - - - - 11,748
--------- ----------- ------- ------- -------- ---------- -----------
Total Current Assets 6,324 234,872 5,784 4,746 12,620 (22,258) 242,088
--------- ----------- ------- ------- -------- ---------- -----------
Deferred Charges:
Prepaid pension cost - 112,861 - - - - 112,861
Regulatory assets - 69,656 - - - - 69,656
Other - 4,565 - 19 - - 4,584
--------- ----------- ------- ------- -------- ---------- -----------
Total deferred charges - 187,082 - 19 - - 187,101
--------- ----------- ------- ------- -------- ---------- -----------
Total Assets $ 295,810 $ 1,023,100 $ 8,726 $ 9,087 $ 13,349 $ (311,744) $ 1,038,328
========= =========== ======= ======= ======== ========== ===========
CAPITALIZATION AND LIABILITIES
Capitalization:
Common stock and Paid-in capital $ 82,579 $ 82,579 $ 300 $ 6,209 $ 9,141 $ (98,229) $ 82,579
Retained earnings 206,907 187,305 8,358 1,886 (6,292) (191,257) 206,907
--------- ----------- ------- ------- -------- ---------- -----------
Total common stock equity 289,486 269,884 8,658 8,095 2,849 (289,486) 289,486
Redeemable preferred stock - 1,266 - - - - 1,266
Long-term debt (less sinking fund
requirements) - 284,480 - - - - 284,480
--------- ----------- ------- ------- -------- ---------- -----------
Total Capitalization 289,486 555,630 8,658 8,095 2,849 (289,486) 575,232
--------- ----------- ------- ------- -------- ---------- -----------
Current Liabilities:
Notes payable - 133,820 - - - - 133,820
Accounts payable - 39,419 90 224 9,948 (8,113) 41,568
Advance customer billings - 16,476 - - - - 16,476
Taxes accrued - 31,733 (93) 58 (45) - 31,653
Unamortized purchased gas adjustment - 8,350 - - - - 8,350
Other 6,324 37,349 - - 134 (14,145) 29,662
--------- ----------- ------- ------- -------- ---------- -----------
Total Current Liabilities 6,324 267,147 (3) 282 10,037 (22,258) 261,529
--------- ----------- ------- ------- -------- ---------- -----------
Deferred Credits and Other Liabilities:
Deferred income taxes - 125,248 71 637 463 - 126,419
Unamortized investment tax credits - 5,869 - - - - 5,869
Pension and postretirement benefit
costs - 18,411 - - - - 18,411
Regulatory liabilities - 31,219 - - - - 31,219
Other - 19,576 - 73 - - 19,649
--------- ----------- ------- ------- -------- ---------- -----------
Total Deferred Credits and Other
Liabilities - 200,323 71 710 463 - 201,567
--------- ----------- ------- ------- -------- ---------- -----------
Total Capitalization and Liabilities $ 295,810 $ 1,023,100 $ 8,726 $ 9,087 $ 13,349 $ (311,744) $ 1,038,328
========= =========== ======= ======= ======== ========== ===========
THE LACLEDE GROUP, INC. AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENTS OF INCOME
TWELVE MONTHS ENDED DECEMBER 31, 2001
(UNAUDITED)
(THOUSANDS OF DOLLARS)
The Laclede
Laclede Laclede Laclede Group, Inc.
The Laclede Laclede Pipeline Development Investment, and Subsidiary
Group, Inc. Gas Company Company Company LLC Eliminations Companies
----------- ----------- -------- ----------- ----------- ------------ --------------
Operating Revenues:
Utility operating revenues $ - $ 783,897 $ - $ - $ - $ - $ 783,897
Non-utility operating revenues - 2,349 5,023 956 59,984 (481) 67,831
--------- ----------- ------- ------- -------- ---------- -----------
Total Operating Revenues - 786,246 5,023 956 59,984 (481) 851,728
--------- ----------- ------- ------- -------- ---------- -----------
Operating Expenses:
Utility operating expenses
Natural and propane gas - 523,510 - - - - 523,510
Other operation expenses - 101,167 - - - - 101,167
Maintenance - 19,056 - - - - 19,056
Depreciation and amortization - 26,290 - - - - 26,290
Taxes, other than income taxes - 60,665 - - - - 60,665
--------- ----------- ------- ------- -------- ---------- -----------
Total utility operating expenses - 730,688 - - - - 730,688
Non-utility operating expenses - 2,354 4,775 423 60,075 (481) 67,146
--------- ----------- ------- ------- -------- ---------- -----------
Total Operating Expenses - 733,042 4,775 423 60,075 (481) 797,834
--------- ----------- ------- ------- -------- ---------- -----------
Operating Income - 53,204 248 533 (91) - 53,894
Other Income and Income Deductions - Net 7,719 2,063 - 226 77 (8,736) 1,349
--------- ----------- ------- ------- -------- ---------- -----------
Income Before Interest and Income Taxes 7,719 55,267 248 759 (14) (8,736) 55,243
--------- ----------- ------- ------- -------- ---------- -----------
Interest Charges:
Interest on long-term debt - 19,200 - - - - 19,200
Other interest charges - 8,511 - - - (300) 8,211
--------- ----------- ------- ------- -------- ---------- -----------
Total Interest Charges - 27,711 - - - (300) 27,411
--------- ----------- ------- ------- -------- ---------- -----------
Dividends on Preferred Stock - 86 - - - - 86
--------- ----------- ------- ------- -------- ---------- -----------
Income Before Income Taxes 7,719 27,470 248 759 (14) (8,436) 27,746
Income Taxes - 7,721 97 319 - - 8,137
--------- ----------- ------- ------- -------- ---------- -----------
Net Income Applicable to Common Stock $ 7,719 $ 19,749 $ 151 $ 440 $ (14) $ (8,436) $ 19,609
========= =========== ======= ======= ======== ========== ===========
THE LACLEDE GROUP, INC. AND SUBSIDIARY COMPANIES
STATEMENT OF CONSOLIDATING RETAINED EARNINGS
12 MONTHS ENDED DECEMBER 31, 2001
(UNAUDITED)
(THOUSANDS OF DOLLARS)
The Laclede
Laclede Laclede Laclede Group, Inc.
The Laclede Laclede Pipeline Development Investment, and Subsidiary
Group, Inc. Gas Company Company Company LLC Eliminations Companies
----------- ----------- -------- ----------- ----------- ------------ --------------
Balance at Beginning of Year $ - $ 212,594 $ 8,207 $10,579 $ (6,281) $ (12,505) $ 212,594
Effect of Restructuring - October 1,
2001 205,512 - - - - (205,512) -
Add - Net Income, per statements 7,719 19,749 151 440 (14) (8,436) 19,609
--------- ----------- ------- ------- -------- ---------- -----------
Total 213,231 232,343 8,358 11,019 (6,295) (226,453) 232,203
--------- ----------- ------- ------- -------- ---------- -----------
Deduct - Cash Dividends Declared:
Common stock 6,324 25,296 - - - (6,324) 25,296
Charges to Retained Earnings - 19,742 - 9,130 - (28,872) -
--------- ----------- ------- ------- -------- ---------- -----------
Total 6,324 45,038 - 9,130 - (35,196) 25,296
--------- ----------- ------- ------- -------- ---------- -----------
Balance at End of Year $ 206,907 $ 187,305 $ 8,358 $ 1,889 $ (6,295) $ (191,257) $ 206,907
========= =========== ======= ======= ======== ========== ===========