SEC FILE NO. 70-9599
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CERTIFICATE PURSUANT TO
RULE 24
OF PARTIAL COMPLETION OF
TRANSACTIONS
FIRSTENERGY CORP.
(As successor to GPU, Inc. by merger)
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:
In the matter of :
FirstEnergy Corp. : Certificate Pursuant
(As successor to GPU, Inc. by merger) : to Rule 24 of Partial
: Completion of
: Transactions
:
SEC File No. 70-9599 :
(Public Utility Holding Company Act :
of 1935) :
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TO THE MEMBERS OF THE SECURITIES AND EXCHANGE COMMISSION:
The undersigned, FirstEnergy Corp. (FirstEnergy), as successor to GPU, Inc. by merger effective November 7, 2001, hereby certifies pursuant to Rule 24 of the General Rules and Regulations under the Public Utility Holding Company Act of 1935 (the Act), that certain of the transactions proposed in the Application filed in SEC File No. 70-9599 have been carried out in accordance with the Commission's Order dated April 14, 2000, as follows:
A copy of the unaudited consolidated financial statements of MYR Group Inc. (MYR) (including a consolidated balance sheet and statement of income) as of and for the twelve months ended September 30, 2001 is attached as Exhibit A.
A schedule setting forth the segment revenue for the quarter ended September 30, 2001 for each of MYR's business segments (Exhibit B) is being filed separately pursuant to a request for confidential treatment under Rule 104(b) of the Act.
During the quarter ended September 30, 2001, MYR performed significant T&D services for its customers. T&D generated approximately 54.2% of MYR's total revenue for the quarter. A significant portion of this work continued to be performed for a core base of electric utility clients in Texas, Tennessee, California, Michigan, California and Colorado.
There was no significant business activity to report for the quarter ended September 30, 2001.
There was no significant business activity to report for the quarter ended September 30, 2001.
During the quarter ended September 30, 2001, MYR performed significant C&I services for its customers. C&I revenue was approximately 38.5% of total revenue for the period. A majority of that revenue was generated by one operating subsidiary that operates primarily in the western part of the United States.
During the quarter ended September 30, 2001, services provided to associated companies consisted primarily of (i) Harlan Electric performing various distribution projects in New Jersey and Pennsylvania for Jersey Central Power & Light Company, Metropolitan Edison Company and Pennsylvania Electric Company, and (ii) Harlan Electric laying underground cable in Pennsylvania for GPU Telcom Services, Inc. The total amount billed to associated companies for performing such services was $2.96 million during the period.
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, THE UNDERSIGNED COMPANY HAS DULY CAUSED THIS CERTIFICATE TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED THEREUNTO DULY AUTHORIZED.
Date: November 30, 2001
By: /s/ Harvey L. Wagner
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Harvey L. Wagner
Vice President and Controller
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A. Consolidated financial statements of MYR Group Inc. as of and for the twelve months ended September 30, 2001.
Exhibit A
Assets
Current Assets:
Cash and temporary cash investments $ -
Accounts receivable:
Contract 129,496,521
Other 224,943
Cost and estimated earnings in excess
of billings on uncompleted contracts 26,124,951
Prepaid taxes 9,437,804
Other 266,474
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Total current assets 165,550,693
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Fixed Assets:
Land 930,807
Building and improvements 4,453,821
Construction equipment 45,008,547
Office equipment 5,829,867
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Total fixed assets 56,223,042
Accumulated depreciation (41,330,274)
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Net fixed assets 14,892,768
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Goodwill, net 159,874,660
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Deferred Debits and Other Assets 2,107,936
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Total Assets $342,426,057
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Exhibit A
Liabilities and Stockholder's Equity
Current Liabilities:
Notes payable $ -
Accounts payable 17,960,373
Billings in excess of cost and estimated
earnings on uncompleted contracts 23,463,254
Accrued income taxes 4,338,298
Other 37,188,816
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Total current liabilities 82,950,741
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Non-Current Liabilities:
Long-term debt 6,700,000
Deferred income taxes 4,382,474
Other 559,387
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Total long-term liabilities 11,641,861
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Stockholder's Equity:
Common stock 67,143
Capital surplus 229,774,734
Retained earnings 17,991,578
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Total stockholder's equity 247,833,455
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Total Liabilities and Stockholder's Equity $342,426,057
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Exhibit A
Operating Revenues $675,524,575
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Operating Expenses:
Operation and maintenance expenses 624,428,078
Provision for depreciation and amortization 8,927,204
General taxes 17,013,911
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Total operating expenses 650,369,193
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Operating Income 25,155,382
Other income 609,116
Net interest charges 986,884
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Income Before Income Taxes 24,777,614
Income taxes 10,680,999
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Net Income $ 14,096,615
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