2003Annual Report.pdf

INSTRUCTIONS FOR FILING THE
FERC FORM NO.
GENERAL INFORMATION
I . Purpose
This form is a regulatory support requirement (18 CFR 141.1). It is designed to collect financial and
operational information from major electric utilities , Licensees and others subject to the jurisdiction of the
Federal Energy Regulatory Commission. This report is also secondarily considered to be a nonconfidential public use
form supporting a statistical publication (Financial Statistics of Selected Electric Utilities), published by the
Energy Information Administration.
II. Who Must Submit
Each major electric utility, licensee, or
Prescribed for Public utilities and Licensees
submit this form.
Note: Maj or means having, in each of the three previous calendar years, sales or transmission service that
exceeds
other , as classified in the Commission' s Uniform System of Accounts
Subject to the provisions of The Federal Power Act (18 CFR 101), must
one of the following:
(1) one million megawatt
(2) 100 megawatt hours of
(3) 500 megawatt hours of
(4) 500 megawatt hours of
hours of total annual sales,
annual sales for resale
annual power exchanges delivered, or
annual wheeling for others (deliveries plus Losses)
III. What and Where to Submit
(a) Submit this form electronically through the Form 1
conformed paper copies, properly filed in and attested, to:
Office of the Secretary
Federal Energy Regulatory Commission
888 First Street, NE.
Room 1A
Washington, DC 20426
Submission Software and an original and six (6)
Retain one copy of this report for your files.
Include with the original and each conformed paper copy of this form the subscription statement required by 18
R. 385.2011(c) (5). Paragraph (c) (5) of 18 C.R. 385.2011 requires each respondent submitting data
electronically to file a subscription stating that the paper copies contain the same information as the electronic
filing, that the signer knows the contents of the paper copies and electronic filing, and that the contents as
stated in the copies and electronic filing are true to the best knowledge and belief of the signer.
(b) Submit , immediately upon publication, four (4) copies of the Latest annual report to stockholders and any
annual financial or statistical report regularly prepared and distributed to bondholders, security analysts, or
industry associations. (Do not include monthly and quarterly reports. Indicate by checking the appropriate box on
Page 4 , List of Schedules, if the reports to stockholders will be submitted or if no annual report to stockholders
is prepared.) Mail these reports to:
Chief Accountant
Federal Energy Regulatory Commission
888 First Street, NE.
Washington, DC 20426
(c) For the CPA certification, submit with the original submission, or within 30 days after the filing date for
this form, a Letter or report (not applicable to respondents classified as Class C or Class D prior to January 1,
1984) :
(i) Attesting to the conformity, in all material aspects , of the below listed (schedules and) pages with
the Commission's applicable Uniform Systems of Accounts (including applicable notes relating thereto and the Chief
Accountant's published accounting releases), and
(ii) Signed by independent certified public accountants or an independent Licensed public accountant
certified or Licensed by a regulatory authority of a State or other political subdivision of the U. S. (See 18 CFR
41.10-41.12 for specific qualifications.
FERC FORM NO.1 (REV. 12-99)Page
GENERAL INFORMATION (continued)
III. What and Where to Submit (Continued)
(c) Continued
Schedules
Reference
Pages
Comparative Balance Sheet
Statement of Income
Statement of Retained Earnings
Statement of Cash Flows
Notes to Financial Statements
110-113
114-117
118-119
120-121
122 -123
When accompanying this form, insert the Letter or report immediately following the cover sheet. When
after the filing date for this form, send the letter or report to the office of the Secretary at the
indicated at III (a).
Use the following format for the Letter or
the Letter or report, demand that it be varied.
submitting
address
report unless unusual circumstances or conditions, explained in
Insert parenthetical phrases only when exceptions are reported.
In connection with our regular examination of the financial statements of for the year ended on
which we have reported separately under date of . We have also reviewed schedules
of FERC Form No.1 for the year filed with the Federal Energy Regulatory
Commission, for conformity in all material respects with the requirements of the Federal Energy Regulatory
commission as set forth in its applicable Uniform System of Accounts and published accounting releases. Our review
for this purpose included such tests of the accounting records and such other auditing procedures as we considered
necessary in the circumstances.
Based on our review , in our opinion the accompanying schedules identified in the preceding paragraph (except as
noted below) conform in all material respects with the accounting requirements of the Federal Energy Regulatory
Commission as set forth in its applicable Uniform System of Accounts and published accounting releases.
State in the letter or report, which, if any, of the pages above do not conform to the Commission
requirements. Describe the discrepancies that exist.
(d) Federal, State and Local Governments and other authorized users may obtain additional blank copies
their requirements free of charge from:
Public Reference and Files Maintenance Branch
Federal Energy Regulatory Commission
888 First Street, NE. Room 2A ES-
Washington, DC 20426
[phone]
to meet
IV. When to Submit
Submit this report form on or before April 30th of the year following the year covered by this report.
V. Where to Send Comments on Public Reporting Burden
The public reporting burden for this collection of information is estimated to average 1,217 hours per
response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining
the data needed, and completing and reviewing the collection of information. Send comments regarding this burden
estimate or any aspect of this collection of information, including suggestions for reducing this burden, to the
Federal Energy Regulatory Commission, 888 First Street N. E., Washington, DC 20426 (Attention: Mr. Michael Miller,
CI-1); and to the Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, DC
20503 (Attention: Desk Officer for the Federal Energy Regulatory Commission). No person shall be subject to any
penalty if this collection of information does not display a valid control number. (44 U. S. C. 3512 (a) ) .
FERC FORM NO.1 (REV. 12-99)Page
GENERAL INSTRUCTIONSI. Prepare this report in conformity with the Uniform System of Accounts (18 CFR 101)
all accounting words and phrases in accordance with the U. S. of A.
(U.S. of A.). Interpret
II. Enter in whole numbers (dollars or MWH) only, except where otherwise noted. (Enter cents for averages and
figures per unit where cents are important. The truncating of cents is allowed except on the four basic financial
statements where rounding is required.) The amounts shown on all supporting pages must agree with the amounts
entered on the statements that they support. When applying thresholds to determine significance for reporting
purposes, use for balance sheet accounts the balances at the end of the current reporting year, and use for
statement of income accounts the current year I s amounts.
III. Complete each question fully and accurately, even if it has been answered in a previous annual report. Enter
the word "None" where it truly and completely states the fact.
IV. For any pagels) that is not applicable to the respondent, omit the pagels) and enter "NA, " "NONE," or "Not
Applicable" in column (d) on the List of Schedules, pages 2, 3, and 4.
V. Enter the month, day, and year for all dates. Use customary abbreviations. The "Date of Report" included in
the header of each page is to be completed only for resubmissions (see VII. below). The date of the resubmission
must be reported in the header for all form pages, whether or not they are changed from the previous filing.
VI. Generally, except for certain schedules, all numbers, whether they are expected to be debits or credits, must
be reported as positive. Numbers having a sign that is different from the expected sign must be reported by
enclosing the numbers in parentheses.
VII. For any resubmissions, submit the electronic filing using the Form 1 Submission Software and an original and
six (6) conformed paper copies of the entire form, as well as the appropriate number of copies of the subscription
statement indicated at instruction III (a). Resubmissions must be numbered sequentially on the cover page of the
paper copies of the form. In addition, the cover page of each paper copy must indicate that the filing is a
resubmission. Send the resubmissions to the address indicated at instruction III (a).
VIII. Do not make references to reports of previous years or to other reports in lieu of required entries, except
as specifically authorized.
IX. Wherever (schedule) pages refer to figures from a previous year , the figures reported must be based upon
those shown by the annual report of the previous year, or an appropriate explanation given as to why the different
figures were used.
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DEFINITIONS
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I. Commission Authorization (Comm. Auth.) -- The authorization of the Federal Energy Regulatory Commission, or any
other Commission. Name the commission whose authorization was obtained and give date of the authorization.
II. Respondent -- The person, corporation, licensee, agency, authority, or other Legal entity or instrumentality in
whose behalf the report is made.
FERC FORM NO.1 (REV. 12-99)Page iii
EXCERPTS FROM THE LAW
Federal Power Act, 16 U.C. 791a-825r)
"Sec. 3. The words defined in this section shall have the following meanings for purposes of this Act, to wit:
.. . (3) "Corporation" means any corporation , joint-stock company, partnership, association, business trust,
organized group of persons, whether incorporated or not, or a receiver or receivers, trustee or trustees of any of
the foregoing. It shalt not include 'municipalities, as hereinafter defined;
(4) "Person" means an individual or a corporation;
(5) "Licensee" means any person, State, or municipality Licensed under the provisions of section 4 of this Act,
and any assignee or successor in interest thereof;
(7) "Municipality " means a city, county, irrigation
or agency of a State competent under the Laws thereof
unitizing, or distributing power;...
(11) "Project" means a complete unit of improvement or development, consisting of a power house, all water
conduits, all dams and appurtenant works and structures (including navigation structures) which are a part of said
unit, and all storage, diverting, or forebay reservoirs directly connected therewith, the primary line or Lines
transmitting power therefrom to the point of junction with the distribution system or with the interconnected
primary transmission system, all miscellaneous structures used and useful in connection with said unit or any part
thereof, and all water rights, rights-of-way, ditches, dams, reservoirs, Lands, or interest in Lands the use and
occupancy of which are necessary or appropriate in the maintenance and operation of such unit;
district, drainage district, or other political subdivision
to carry an the business of developing, transmitting,
"Sec. 4. The Commission is hereby authorized and empowered:
(a) To make investigations and to collect and record data concerning the utilization of the water ' resources of
any region to be developed, the water-power industry and ~ts relation to other industries and to interstate or
foreign commerce, and concerning the location, capacity, development costs, and relation to markets of power sites;
to the extent the Commission may deem necessary or useful for the purposes of this Act.
"Sec. 304. (a) Every Licensee and every public utility shall file with the Commission such annual and other
periodic or special reports as the Commission may be rules and regulations or other prescribe as necessary or
appropriate to assist the Commission in the proper administration of this Act. The Commission my prescribe the
manner and form in which .such reports shalt be made, and require from such persons specific answers to all
questions upon which the Commission may need information. The Commission may require that such reports shall
include, among other things, full information as to assets and Liabilities, capitalization , net investment, and
reduction thereof, gross receipts, interest due and paid, depreciation, and other reserves, cost of project and
other facilities, cost of maintenance and operation of the project and other facilities, cost of renewals and
replacement of the project works and other facilities, depreciation , generation, transmission, distribution,
delivery, use, and sale of electric energy. The Commission may require any such person to make adequate provision
for currently determining such costs and other facts. Such reports shall be made under oath unless the Commission
otherwise specifies.
"Sec. 309. The Commission shall have power to perform any and all acts, and to prescribe, issue, make, and rescind
such orders, rules and regulations as it may find necessary or appropriate to carry out the provisions of this Act.
Among other things, such rules and regulat ions may def ine account ing, technical, and trade terms used in this Act;
and may prescribe the form or forms of all statements, declarations, applications, and reports to be filed with the
Commission, the information which they shall contain, and the time within which they shall be filed...
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General Penalties
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"Sec. 315. (a) Any licensee or public utility which willfully fails, within the time prescribed by the Commission
to comply with any order of the Commission , to file any report required under this Act or any rule or regulation of
the Commission thereunder, to submit any information of document required by the Commission in the course of an
investigation conducted under this Act . .. shall forfeit to the United States an amount not exceeding $1,000 to be
:ixed by the Commission after notice and opportunity for hearing.
. . "
FERC FORM NO.1 (ED. 12-91)Page iv
FERC FORM NO.
ANNUAL REPORT OF MAJOR ELECTRIC UTILITIES, LICENSEES AND OTHER
IDENTIFICATION
01 Exact Legal Name of Respondent 02 Year of Report
PacifiCorp Dec. 31 2003
03 Previous Name and Date of Change (if name changed during year)
/ /
04 Address of Principal Office at End of Year (Street, City, State, Zip Code)
825 N.E. Multnomah, Suite 2000 Portland, OR 97232
05 Name of Contact Person 06 Title of Contact Person
Henry Lay Accounting Director
07 Address of Contact Person (Street, City, State, Zip Code)
825 N.E. Multnomah , Suite 1900 Portland, OR 97232
08 Telephone of Contact Person,/nc/uding 09 This Report Is 10 Date of Report
Area Code (1) 00 An Original (2) 0 A Resubmission (Mo Da, Yr)
[phone] 04/30/2004
ATTESTATION
The undersigned officer certifies that he/she has examined the accompanying report: that to the best of his/her knowledge, information, and beliefall statements of fact contained in the accompanying report are true and the accompanying report is a correct statement of the business and
affairs of the above named respondent in respect to each and every matter set forth therein during the period from and including January 1 to
and induding December 31 of the year of the report.
01 Name 03 Signature 04 Date Signed
Richard D. Peach
etJ f2L
(Mo , Yr)
02 Title
4- /21 /0 ft-Chief Financial Officer
Title 18, U.C. 1001 makes it a crime for any person to knowingly and willingly to make to any Agency or Department of the United States any
false, fictitious or fraudulent statements as to any matter within its jurisdiction.
FERC FORM No.1 (ED. 12-91)Page 1
Name of Respondent This ~ort Is:Date of Report Year of Report
PacifiCorp (1) An Original (Mo, Da, Yr)Dec. 31 2003(2) n A Resubmission 04/30/2004
LIST OF SCHEDULES (Electric Utility)
Enter in column (c) the terms "none,
" "
not applicable," or "" as appropriate, where no information or amounts have been reported for
certain pages. Omit pages where the respondents are "none
" "
not applicable " or "NA"
Line Title of Schedule Reference Remarks
No.Page No.
(a)(b)(c)
Generallnformation 101
Control Over Respondent 102
Corporations Controlled by Respondent 103
Officers 104
Directors 105
Important Changes During the Year 108-109
Comparative Balance Sheet 110-113
Statement of Income for the Year 114-117
Statement of Retained Earnings for the Year 118-119
Statement of Cash Flows 120-121
Notes to Financial Statements 122-123
Statement of Accum Comp Income, Comp Income, and Hedging Activities 122(a)(b)
Summary of Utility Plant & Accumulated Provisions for Dep, Amort & Dep 200-201
Nuclear Fuel Materials 202-203
Electric Plant in Service 204-207
Electric Plant Leased to Others 213
Electric Plant Held for Future Use 214
Construction Work in Progress-Electric 216
Accumulated Provision for Depreciation of Electric Utility Plant 219
Investment of Subsidiary Companies 224-225
Materials and Supplies 227
Allowances 228-229
Extraordinary Property Losses 230
Unrecovered Plant and Regulatory Study Costs 230
Other Regulatory Assets 232
Miscellaneous Deferred Debits 233
Accumulated Deferred Income Taxes 234
Capital Stock 250-251
Other Paid-in Capital 253
Capital Stock Expense 254
Long-Term Debit 256-257
Reconciliation of Reported Net Income with Taxable Inc for Fed Inc Tax 261
Taxes Accrued, Prepaid and Charged During the Year 262-263
Accumulated Deferred Investment Tax Credits 266-267
Other Deferred Credits 269
Accumulated Deferred Income Taxes-Accelerated Amortization Property 272-273
FERC FORM NO.1 (ED. 12-96)Page 2
Name of Respondent This ~ort Is:Date of Report Year of Report
PacifiCorp (1) An Original (Mo, Da, Yr)Dec. 31 2003(2) n A Resubmission 04/30/2004
LIST OF SCHEDULES (Electric Utility) (continued)
Enter in column (c) the terms "none
" "
not applicable," or "" as appropriate, where no information or amounts have been reported for
certain pages. Omit pages where the respondents are "none
" "
not applicable," or "NA"
Line Title of Schedule Reference Remarks
No.Page No.
(a)(b)(c)
Accumulated Deferred Income Taxes-Other Property 274-275
Accumulated Deferred Income Taxes-Other 276-277
Other Regulatory Liabilities 278
Electric Operating Revenues 300-301
Sales of Electricity by Rate Schedules 304
Sales for Resale 310-311
Electric Operation and Maintenance Expenses 320-323
Purchased Power 326-327
Transmission of Electricity for Others 328-330
Transmission of Electricity by Others 332
Miscellaneous General Expenses-Electric 335
Depreciation and Amortization of Electric Plant 336-337
Regulatory Commission Expenses 350-351
Research, Development and Demonstration Activities 352-353
Distribution of Salaries and Wages 354-355
Common Utility Plant and Expenses 356
Electric Energy Account 401
Monthly Peaks and Output 401
Steam Electric Generating Plant Statistics (Large Plants)402-403
Hydroelectric Generating Plant Statistics (Large Plants)406-407
Pumped Storage Generating Plant Statistics (Large Plants)408-409
Generating Plant Statistics (Small Plants)410-411
Transmission Line Statistics 422-423
Transmission Lines Added During Year 424-425
Substations 426-427
Footnote Data 450
Stockholders' Reports Check appropriate box:
I!I Four copies will be submitted
No annual report to stockholders is prepared
FERC FORM NO.1 (ED. 12-96)Page 3
Name of Respondent
PacifiCorp
This Report Is:
(1) 00 An Original(2) 0 A Resubmission
Date of Report
(Mo, , Yr)
04/30/2004
Year of Report
Dec. 31 2003
GENERAL INFORMATION
1 . Provide name and title of officer having custody of the general corporate books of account and address of
office where the general corporate books are kept, and address of office where any other corporate books of account
are kept, if different from that where the general corporate books are kept.
Richard D. Peach, Chief Financial Officer
825 N.E. Multnomah, Suite 2000
Corporate books are kept at:
825 N.E. Multnomah, Suite 2000
Portland, Oregon 97232-4116
2. Provide the name of the State under the laws of which respondent is incorporated, and date of incorporation.
If incorporated under a special law, give reference to such law. If not incorporated, state that fact and give the type
of organization and the date organized.
Incorporated on August 11, 1987 in the State of Oregon.
3. If at any time during the year the property of respondent was held by a receiver or trustee, give (a) name of
receiver or trustee, (b) date such receiver or trustee took possession, (c) the authority by which the receivership or
trusteeship was created, and (d) date when possession by receiver or trustee ceased.
Not Applicable
Not Applicable.
4. State the classes or utility and other services furnished by respondent during the year in each State in which
the respondent operated.
The Company is a regulated electric company operating in portions of the states of Utah, Oregon,
Wyoming, washington, Idaho and California. The Company conducts its retail electric utility business as
Pacific Power and Utah Power, and engages in electricity production and sales on a wholesale basis under
the name PacifiCorp.
5. Have you engaged as the principal accountant to audit your financial statements an accountant who is not
the principal accountant for your previous year s certified financial statements?
(1) 0 Yes...Enter the date when such independent accountant was initially engaged:
(2) 00
FERC FORM No.1 (ED. 12-87)PAGE 101
Name of Respondent
PacifiCorp
This Report Is:
(1) 00 An Original(2) 0 A Resubmission
Date of Report
(Mo, Da, Yr)
04/30/2004
CONTROL OVER RESPONDENT
Year of Report
Dec. 31 2003
1. If any corporation, business trust, or similar organization or a combination of such organizations jointly held
control over the repondent at the end of the year, state name of controlling corporation or organization, manner in
which control was held, and extent of control. If control was in a holding company organization, show the chain
of ownership or control to the main parent company or organization. If control was held by a trustee(s), state
name of trustee(s), name of beneficiary or beneficiearies for whom trust was maintained, and purpose of the trust.
Scottish Power pic
Scottish Power NA 1 Limited (10% controlled) Equity Investment
Scottish Power NA 2 Limited (90% controlled) Equity Investment
PacifiCorp Holdings, Inc. (100% controlled) Equity Investment
PacifiCorp (100% controlled) Equity Investment
FERC FORM NO.1 (ED. 12-96)Page 102
Name of Respondent
PacifiCorp
Year of Report
Dec, 31 2003
This ~ort Is: Date of Report(1) ~An Original (Mo, Da, Yr)(2) nA Resubmission 04/30/2004
CORPORATIONS CONTROLLED BY RESPONDENT
1. Report below the names of all corporations, business trusts, and similar organizations, controlled directly or indirectly by respondent
at any time during the year. If control ceased prior to end of year, give particulars (details) in a footnote.
2. If control was by other means than a direct holding of voting rights, state in a footnote the manner in which control was held, naming
any intermediaries involved,
3. If control was held jointly with one or more other interests, state the fact in a footnote and name the other interests.
Definitions
1. See the Uniform System of Accounts for a definition of control.
2. Direct control is that which is exercised without interposition of an intermediary.
3. Indirect control is that which is exercised by the interposition of an intermediary which exercises direct control.
4. Joint control is that in which neither interest can effectively control or direct action without the consent of the other, as where the
voting control is equally divided between two holders, or each party holds a veto power over the other. Joint control may exist by
mutual agreement or understanding between two or more parties who together have control within the meaning of the definition of
control in the Uniform System of Accounts, regardless of the relative voting rights of each party.
Energy West Mining Company
Glenrock Coal Company
(a)(b)
Percent Voting
Stock Owned
(c)
100
100
Footnote
Ref.
(d)
Line
No.
Name of Company Controlled Kind of Business
,"'/ .::,:::,'
:1 Inlng
Mining
Mining
Interwest Mining Company
Pacific Minerals, Inc.
eafffi8bms.h~~~m~~tal!Reme~i~~C)J1COi .
R~CifiG()rp:J!:UtlJr!~~netatiQrys,,!rjqr
. .
Mining
Mining
100
100
, Mining
100
66.
Environmental Services
, Rain Forest Carbon Credits
89,
100
PacifiCorp Investment Management, Inc Management Services for PERCO
~ ~; ." .
: T Financing Company11
~ .
d ,Financing Company
100
100
100
FERC FORM NO.1 (ED. 12-96)Page 103
Name of Respondent This ~ort Is:Date of Report Year of Report
PacifiCorp (1) An Original (Mo, Da, Yr)Dec. 31 2003(2) 0 A Resubmission 04/30/2004
OFFICERS
Report below the name , title and salary for each executive officer whose salary is $50,000 or more,An "executive officer" of a
respondent includes its president, secretary, treasurer, and vice president in charge of a principal business unit, division or function
(such as sales, administration or finance), and any other person who performs similar policy making functions.
If a change was made during the year in the incumbent of any position, show name and total remuneration of the previous
incumbent, and the date the change in incumbency was made.
I Line Title Name of Officer , S~l.ary
No.for Year
(a)(b)(c)
President and Chief Executive Officer Judith A, Johansen ~E~~I~~l~1J~~~r~
Senior Vice President, General Counsel and Corporate Andrew P. Haller ~l&_"
~~".
~!f";1; : "'~i~2 ~6'J!..
.. ." ,.. -.,,~ " -
Secretary
Senior Vice President Michael J. Pittman ~.i~~iBi~!((,;gqg
Senior Vice President A. Richard Walje _fti~~~1i~
Senior Vice President Robert A. Klein ~ti~~~~~~~t~
Executive Vice President William D. Landels
Executive Vice President Andrew N. MacRitchie
Executive Vice President Matthew R. Wright
Senior Vice President Barry G. Cunningham
Senior Vice President Donald N. Furman
Senior Vice President Robert A. Moir
Senior Vice President .11.
"'"'" :'"
~"l~"1lf"~~L ~,)!!~~Jj~;\,;7~;'~.
Vice President Jeffrey K.Larsen
Vice President Donald D. Larson
Vice President Emest E. Wessman
Chief Financial Officer ~~$t1~1~fc~~~~~.Ii~iJj
Treasurer Bruce N. Williams
FERC FORM NO.1 (ED. 12-96)Page 104
Name of Respondent
PacifiCorp
Date of Report
(Mo, 03, Yr)
04/30/2004
Year of Report
Dec. 31, 2003
This ~rt Is:(1) ~An Original(2) nA Resubmission
DIRECTORS
1, Report below the infonnation called for conceming each director of the respondent who held office at any time during the year. Indude in column (a), abbreviated
titles of the directors who are officers of the respondent.
2, Designate members of the Executive Committee by a triple asterisk and the Chainnan of the Executive Committee by a double asterisk,
L.llJ~Name (an!l.llUe) or UlreCtOr t-'nnClpal Business Address
PacifiCorp Board of Directors:
Ian M. Russell, Chair
** Judith A. Johansen (President & CEO)
*** William D. Landels (Executive Vice President)
12 *** Andrew N. MacRitchie (Executive Vice President)
15 *** Matthew R. Wright (Executive Vice President)
18 *** Barry G. Cunningham (Senior Vice President)
21 *** Michael J. Pittman (Senior Vice President)
24 *** A. Richard Walje (Senior Vice President)
27 Nolan E. Karras
30
.,..
~~~1Iimjlll~ll~!'lrl:~~
33 \1J~;;~,~~~111.);2?1Ii:;I:I&$illjl.;)itlllliiill.;i\~ 825 NE Multnomah, Ste 200034 PorUand, Oregon 97232
1 Atlantic Quay
Glasgow, Scotland G2 asp
825 NE Multnomah, Ste 2000
PorUand, Oregon 97232
201 South Main, Ste 2300
Salt Lake City, Utah 84140
825 NE Multnomah, Ste 2000
PorUand, O~ 97232
825 NE Multnomah, Ste 2000
PorUand, Oregon 97232
201 South Main, Ste 2300
Salt Lake City, Utah 84140
825 NE Multnomah, Ste 2000
Portland, Oregon 97232
201 South Main, Ste 2300
Salt Lake City, Utah 84140
4695 South 1900 West #3
Roy, Utah 84067
825 NE Multnomah, Ste 2000
PorUand, Oregon 97232
FERC FORM NO.1 (ED. 12-95)Page 105
Name of Respondent
PacifiCorp
Date of Report
04/30/2004
Year of Report
Dec. 31, 2003This Report Is:
(1) 1!9 An Original
(2) 0 A Resubmission
1M ORTANT CHANGES DURING THE YEAR
Give particulars (details) conceming the matters indicated below. Make the statements explicit and precise, and number them in
accordance with the inquiries. Each inquiry should be answered. Enter "none,
" "
not applicable," or "NA" where applicable. If
information which answers an inquiry is given elsewhere in the report, make a reference to the schedule in which it appears.
1. Changes in and important additions to franchise rights: Describe the actual consideration given therefore and state from whom the
franchise rights were acquired. If acquired without the payment of consideration, state that fact.
2, Acquisition of ownership in other companies by reorganization, merger, or consolidation with other companies: Give names of
companies involved, particulars conceming the transactions, name of the Commission authorizing the transaction, and reference to
Commission authorization.
3. Purchase or sale of an operating unit or system: Give a brief description of the property, and of the transactions relating thereto,
and reference to Commission authorization, if any was required. Give date joumal entries called for by the Uniform System . of Accounts
were submitted to the Commission,
4. Important leaseholds (other than leaseholds for natural gas lands) that have been acquired or given, assigned or surrendered: Give
effective dates, lengths of terms, names of parties, rents, and other condition. State name of Commission authorizing lease and give
reference to such authorization.
5. Important extension or reduction of transmission or distribution system: State territory added or relinquished and date operations
began or ceased and give reference to Commission authorization, if any was required. State also the approximate number of
customers added or lost and approximate annual revenues of each class of service. Each natural gas company must also state major
new continuing sources of gas made available to it from purchases, development, purchase contract or otherwise, giving location and
approximate total gas volumes available, period of contracts, and other parties to any such arrangements, etc.
6. Obligations incurred as a result of issuance of securities or assumption of liabilities or guarantees including issuance of short-term
debt and commercial paper having a maturity of one year or less. Give reference to FERC or State Commission authorization, as
appropriate, and the amount of obligation or guarantee.
7. Changes in articles of incorporation or amendments to charter: Explain the nature and purpose of such changes or amendments.
8. State the estimated annual effect and nature of any important wage scale changes during the year.
9. State briefly the status of any materially important legal proceedings pending at the end of the year, and the results of any such
proceedings culminated during the year.
10. Describe briefly any materially important transactions of the respondent not disclosed elsewhere in this report in which an officer
director, security holder reported on Page 106, voting trustee, associated company or known associate of any of these persons was a
party or in which any such person had a material interest.
11. (Reserved.
12. If the important changes during the year relating to the respondent company appearing in the annual report to stockholders are
applicable in every respect and furnish the data required by Instructions 1 to 11 above, such notes may be included on this page.
PAGE 108 INTENTIONALLY LEFT BLANK
SEE PAGE 109 FOR REQUIRED INFORMATION.
FERC FORM NO.1 (ED. 12-96)Page 108
Name of Respondent This Report is:Date of Report Year of Report
(1) ~ An Original (Mo, Da, Yr)
PacifiCorp '2) A Resubmission 04/30/2004 Dec 31 2003
IMPORTANT CHANGES DURING THE YEAR (Continued)
Franchise agreements renewed or newly adopted in 2003:
Renewal Date Expiration Date Fee %
(Fee attached to franchise agreement)
California
None
None
Ore
Moro 20030204 2023 02 04 5 franchise
Weston 20030709 2023 0709 5 franchise/1.5 license
Grass Valley 2003 11 03 2023 11 03 5 franchise
Scio 20031117 20231117 5 franchise
Klamath Falls 20031117 20131117 5 franchise/3.5 license
Creswell 2003 1208 20131208 5 franchise/1.5 license
Utah
Hooper 20030220 2023 03 01
Castle Valley (new)20030319 20230319
Provo (transmission)20030715 2008 07 01
Minersville 2003 09 02 2018 09 02
Cedar City 20031217 2013 12 17
Washin ton
None
omin
Bear River 200301 14 2028 01 14 0 franchise
None.
The Company is in the process of selling the Naches and Naches Drop Plants to the United States Bureau of
Reclamation. Water rights, buildings and equipment were turned over to the Bureau of Reclamation on March 10,
2003. The plants ceased operations on October 15, 2003. Land rights are still under negotiation.
None.
None.
The following paragraph was extracted from the Company s Form 10-Q filing dated December 31,2003:
At December 31 , 2003, the Company had $800.0 million of committed bank revolving credit agreements, including a
$300.0 million facility, with a three-year term that became effective June 4, 2002, and a $500.0 million facility that
became effective June 3, 2003, with a 364-day term plus a one-year term loan option. The interest on advances
under these facilities is based on the London Interbank Offered Rate (LiBOR) plus a margin that varies based on the
Company s credit ratings, As of December 31 , 2003, these facilities were fully available, and there were no
borrowings outstanding.
IFERC FORM NO.1 (ED. 12-96) Page 109.
Name of Respondent This Report is:Date of Report Year of Report
(1) ~An Original (Mo, Da, Yr)
PacifiCorp i2) A Resubmission 04/30/2004 Dec 31 2003
IMPORTANT CHANGES DURING THE YEARCContinued)
At December 31 , 2003, the Company had $225.0 million of commercial paper obligations outstanding, with
maturities of less than one year. Authorizations for up to $1,5 billion outstanding at anyone time in commercial
paper and other unsecured short-term debt are as follows:
Oregon Public Utility Commission, Docket No. UF-4120, Order No. 98-158, dated April 16, 1998. Permits issuance
of unsecured short-term promissory notes to and borrowings from commercial banks under revolving credit agree-
ments or other borrowing arrangements.
Washington Utilities and Transportation Commission, Docket No. UE-980404, dated April 8, 1998.
Idaho Public Utility Commission, Case No, PAC-03-, Order No, 29374, dated November 5,2003.
On September 8 2003, the Company issued $200.0 million of the 4,30% First Mortgage Bonds due September 15
2008 and $200,0 million of the 5.45% First Mortgage Bonds due September 15 2013. These bonds contain
covenants consistent with the Company s other series of First Mortgage Bonds. The Company used the proceeds
for the refinancing of short-term debt incurred to fund redemptions of long-term securities. Authorizations for these
long-term debt issuances are as follows:
Oregon Public Utility Commission , Docket No. UF-4167, Order No, 99-786, dated December 23,1999; amended
November 13, 2001 , Order No. 01-965.
Washington Utilities and Transportation Commission, Docket No, UE-991745, dated December 8 1999.
Idaho Public Utilities Commission, Docket No. PAC-03-, Order No. 29238, dated May 14, 2003.
None.
During 2003, wage increases went into effect with the International Brotherhood of Electrical Workers (IBEW), Local
57 Power Delivery (Utah, Wyoming, Idaho) of 4 - 6%, Local 57 Generation of 5 - 5.5%, Local 125 (Washington
Oregon) of 5 - 7.5%, Local 659 (Oregon, California) of 4.5 - 5,66%, Local 415 (Laramie, Wyoming) of 3%. Wage
increases went into effect with the Utility Workers Union of America (UWUA), Local 197 (Coos Bay, Oregon) of 3%
Local 127 (Wyoming) of 3%.
FinanciallmDact
Total
$ 4 758,982
$ 1,686,363
$ 1 714,656
$ 1 501 223
$ 11 917
$ 45 169
$ 1,502 884
$11 221 194
IBEW 57 (UT,WY,ID)
IBEW 57 PS (UT ID)
IBEW 125 (WA OR)
IBEW 659 (OR CA)
IBEW 415 (Laramie, WY)
UWUA 197 (Coos Bay, OR)
UWUA 127 (WY)
IFERC FORM NO.1 (ED. 12-96) Page 109.
Name of Respondent This Report is:Date of Report Year of Report
(1) ~An Original (Mo, Da, Yr)
PaeifiCorp I (2) A Resubmission 04/30/2004 Dee 31 2003
IMPORTANT CHANGES DURING THE YEAR (Continued)
The entire following section of information was extracted from the Company s Form 10-a filing dated
December 31 2003:
From time to time, the Company and its subsidiaries are parties to various legal claims, actions and complaints,
certain of which involve material amounts, Although the Company is unable to predict with certainty whether
it will ultimately be successful in these legal proceedings or, if not, what the impact might be, management currently
believes that disposition of these matters will not have a materially adverse effect on the Company s financial
position or results of operations,
On May 7, 2002, the Company filed a request to recover replacement power costs of $30.7 million, resulting from
the outage of the Company's Hunter No.1 generating plant, and a proposal for recovering deferred net power costs
of $60.3 million. In December 2000, the Wyoming Public Service Commission (the "WPSC") authorized the deferral
of net power costs, On March 6, 2003, the WPSC denied recovery of the Hunter No.1 replacement power costs
and the deferred net power costs, The Company filed a petition on April 4, 2003 for rehearing of the decision. After
a public deliberation on May 30, 2003, the WPSC denied the petition, and the order denying rehearing was issued
on July 15, 2003. On August 8, 2003, the Company petitioned the Laramie County district court to review the WPSC
decision. On September 22, 2003, the district court certified the case to the Wyoming Supreme Court. The
Company filed its opening brief with the Wyoming Supreme Court on January 6, 2004.
Beginning in summer 2000, market conditions in California resulted in defaults on amounts due to the Company
from certain counterparties in California. In addition, in December 2001 , Enron Corp. ("Enron ) declared bankruptcy
and defaulted on certain wholesale contracts. The Company previously provided reserves for its California
exposures and its Enron receivable, net of the effect of applying the master netting agreement with Enron, in the
aggregate amount of $14.3 million.
The Company is a party to a FERC proceeding that is investigating potential refunds for energy transactions in the
California Independent System Operator and the California Power Exchange markets during past periods of
high-energy prices. The Company previously established a reserve of $17.7 million for these refunds. The
Company s ultimate exposure to refunds is dependent upon any final order issued by the FERC in this proceeding.
On June 25, 2003, the FERC terminated its proceeding relating to the possibility of requiring refunds for wholesale
spot-market bilateral sales in the Pacific Northwest between December 25, 2000 and June 20, 2001. The FERC
concluded that ordering refunds would not be an appropriate resolution of the matter. On August 25, 2003,
the FERC granted rehearing of its June 25, 2003 order. On November 10, 2003, the FERC issued its final order
denying rehearing, Several market participants have filed petitions in the court of appeals for review of the FERC'
final order.
On June 26, 2003, the FERC issued a final order denying the Company s request for recovery of excessive prices
charged under certain wholesale electricity purchases scheduled for delivery during summer 2002 and dismissing
the Company s complaints, under section 206 of the Federal Power Act, against five wholesale electricity suppliers.
On July 3, 2003, the Company filed a petition in the Ninth Circuit Court of Appeals for review of certain aspects of
this order. On July 28, 2003, the Company filed its request for rehearing of the FERC's order, which was granted
on August 27, 2003. The FERC issued its final order denying rehearing on November 10, 2003. On November 19,
2003, the Company filed a petition in the Ninth Circuit Court of Appeals for review of the FERC's final order denying
recovery. On November 20, 2003, Morgan Stanley Capital Group,lnc. filed a petition in the D.Circuit Court of
Appeals for review of the FERC's final order. On December 9, 2003, the case was transferred to the D,Circuit
Court of Appeals for consolidation of the two appeals.
In May, 2002, the Company, together with other California electricity market participants, responded to data
requests from the FERC regarding trading practices connected with the electricity crisis during 2000 and 2001. The
Company confirmed that it did not engage in any trading practices intended to manipulate the market as
described in the FERC's data requests issued in May 2002. On June 25, 2003, the FERC ordered 60 companies
(including the Company) to show cause why their behavior during the California energy crisis did not constitute
manipulation of the wholesale electricity market, as defined in the California Independent System Operator and the
IFERC FORM NO.1 (ED. 12-96) Page 109.
Name of Respondent This Report is:Date of Report Year of Report
(1) ~ An Original (Mo, Da, Yr)
PacifiCorp (2)A Resubmission 04/30/2004 Dec31,2003
IMPORTANT CHANGES DURING THE YEAR (Continued)
California Power Exchange tariffs. In setting the cases for hearing, the FERC directed the administrative law judge
to hear evidence and render findings and conclusions quantifying the extent of any unjust enrichment that resulted
and to recommend monetary or other appropriate remedies, On August 29, 2003, the Company and the FERC
staff reached a resolution on the show-cause order. Under the terms of the settlement agreement, the Company
denied liability and agreed to pay a nominal amount of $67 745, in exchange for complete and total resolution of the
issues raised in the FERC's show-cause order relating to the Company. The FERC must approve the
settlement before it becomes binding on the parties.
The Northwest Power Act provides access to the benefits of low-cost federal hydro-electricity to the residential and
small-farm customers of the region s investor-owned utilities through the Regional Exchange Program. The
Bonneville Power Administration ("BPA") administers the Regional Exchange Program in accordance with
federal law. The Company passes these benefits through to its Oregon, Washington and Idaho residential and
small-farm customers in the form of electricity bill credits. Pursuant to settlement of the Regional Exchange
Program for the current rate period, the Company s residential and small-farm customers are entitled to annual
benefits of approximately $118.0 million for the period 2002 through 2006. Several publicly owned utilities
cooperatives, and BPA direct-service industry customers have filed petitions with the Ninth Circuit Court of Appeals
seeking review of BPA's decision to settle the Regional Exchange Program with the Company and the region
other investor-owned utilites. Certain of these parties have threatened suits in the U.S. courts to enjoin collection
of certain benefits. The Company has been actively involved in negotiations to settle these outstanding lawsuits.
Unfortunately, these efforts have been unsuccessful, and the Company expects that the dispute cannot be
resolved through settlement. An adverse decision by the courts could reduce the level of benefits paid to the
Company s residential and small-farm customers. Since these benefits have no impact on the Company
earnings, and adverse decision reducing the level of these benefits would not have an effect on the Company
consolidated financial position or results of operations.
The Company operates the majority of its hydroelectric generating portfolio under long-term licenses from the
FERC. These licenses are granted by the FERC for periods of 30 to 50 years. Many of the Company s long-term
operating licenses have expired or will expire in the next few years. Hydroelectric facilities operating under expired
licenses may operate under annual licenses granted by the FERC until new operating licenses are issued,
Hydroelectric relicensing and the related environmental compliance requirements are subject to a degree of
uncertainty. The Company expects that future costs relating to these matters may be significant and consist
primarily of additional relicensing costs and capital expenditures. Electricity generation reductions may also result
from additional environmental requirements. As of December 31 , 2003, the Company had incurred approximately
$105.7 million in costs for ongoing hydroelectric relicensing, which are included in assets on the Company
Condensed Consolidated Balance Sheet. The Company expects that these and future costs will be found to be
prudent and recoverable in rates and, as such, will not have a material adverse impact on the Company
consolidated results of operations.
In June 2003, the Company entered into a settlement agreement to remove the 6-megawatt ("MW") Powerdale
project rather than pursue a new license, based on an analysis of the costs and benefits of relicensing versus
decommissioning, Removal of the Powerdale dam and associated project features, which is subject to FERC and
other regulatory approvals, is projected to cost $6.3 million, with removal to commence in 2010.
In June 2003, the Company submitted a draft license application to interested parties for a 90-day review for the
151.MW Klamath hydroelectric project in southern Oregon and northem California. The Company also submitted
a final license application to the FERC for the Prospect Nos. 1 , 2 and 4 hydroelectric projects in Oregon, totaling
36.MW. The FERC is expected to complete its required analysis over the next two years.
On July 25 2003, the Company received a new 50-year operating license for its 4.MW Big Fork hydroelectric
project located on the Swan River in northwestern Montana. There were no challenges to this license, and it
became effective upon issuance.
On November 18, 2003, the FERC issued a new 35-year operating license for the 185.MW North Umpqua
hydroelectric project in Oregon. On December 22, 2003, the FERC issued a new 30-year operating license for the
84.MW Bear River hydroelectric project in Idaho, The Company and other parties are seeking
IFERC FORM NO.1 (ED. 12-96) Page 109,
Name of Respondent This Report is:Date of Report Year of Report
(1) ~ An Original (Mo, Da, Yr)
PacifiCorp I (2) A Resubmission 04/30/2004 Dec 31,2003
IMPORTANT CHANGES DURING THE YEAR (Continued)
clarification/rehearing on certain elements of the licenses, which appear to be inconsistent with their
respective settlement agreements. In addition, organizations that were not parties to the North Umpqua settlement
agreement have requested rehearing on other elements of that license advocating removal of one of the North
Umpqua project's dams. Both the Bear River and North Umpqua projects are operating under the new FERC
licenses during the clarification/rehearing process. In addition to the projects' capital and operations and
maintenance expenses associated with the new licenses, the Company may be committed, over the lives of the
two licenses , to fund a total of approximately $69.0 million for environmental mitigation and enhancement projects
on behalf of third parties. These commitments are contingent upon final acceptance of the licenses by the
Company.
During calendar year 2003, the Company filed rate cases before the commissions in the states of Utah, Oregon
Wyoming, and Washington , which included each states' portion of the relicensing costs associated with the
hydroelectric projects where new licenses have become effective or are close to being issued by the FERC. In
Oregon and Utah, the rate cases ended in a commission approved settlement, and the commissions did not
contest the hydroelectric relicensing costs. In Wyoming and Washington, the recovery of relicensing costs is
contingent upon the outcome of the rate cases.
The Company is subject to numerous environmental laws, including the federal Clean Air Act, as enforced by the
EPA and various state agencies; the 1990 Clean Air Act Amendments; the Endangered Species Act of 1973,
particularly as it relates to certain endangered species of fish; the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, relating to environmental cleanups; the Resource Conservation and
Recovery Act of 1976; and the Clean Water Act, relating to water quality. These laws could impact the Company
future operations, Contingencies identified at December 31, 2003 principally consist of Clean Air Act matters, which
are the subject of discussions with the EPA and state regulatory authorities. In addition to these laws, the U. S.
Congress is currently considering several proposed bills that could create enforceable limits on electricity plant
emissions of sulfur dioxide, carbon dioxide, oxides of nitrogen and mercury. The EPA has proposed or intends to
propose new regulations that could also impact emissions. These requirements may require additional control
equipment to be installed by 2008. The Company expects that future costs relating to these matters may be
significant and would consist primarily of capital expenditures. The Company further expects that these and future
costs will be found to be prudent and recoverable in rates and, as such, will not have a material adverse impact on
the Company s consolidated results of operations. The Company is providing information about certain of its
generating plants to the EPA in a cooperative effort to seek a mutual, comprehensive solution to air-quality issues
as they relate to such plants generally. The Company is also discussing air-quality issues with state air-quality
regulators.
On April 21 , 2002, a failure occurred in the Swift power canal on the Lewis River in the state of Washington. The
Cowlitz County Public Utility District owns the power canal and associated 70-MW hydroelectric facility ("Swift No.
). The failure impacted, but did not damage, the Company-owned and -operated 240-MW Swift No, 1
hydroelectric facility ("Swift No.), which is upstream of the Swift power canal. The overflow spillway was
modified upstream of the Swift No, 2 failure to allow restricted operations of Swift No.1. The Company continues to
seek ways to mitigate any shaping limitations and to recover any business losses. It is currently estimated that
Swift No.2 will return to operations during the first half of calendar year 2005. Swift No.2 reconstruction must be
completed before unrestricted use of Swift No.1 can resume. Swift No.1 is estimated to retum to full operations
during the third quarter of calendar year 2005. The Company will be working cooperatively with Cowlitz Public Utility
District to expedite reconstruction efforts. The full impact of the Swift power canal outage and plans for repair of the
Swift No.2 facility are currently under review. The Company is seeking reimbursement from Cowlitz County Public
Utility District of the Company's expenditures associated with the Swift No.2 failure, including canal modifications
and energy replacement costs. This event is not expected to have a significant impact on the Company
consolidated financial position or results of operations.
10.None
11.(Reserved)
IFERC FORM NO.1 (ED. 12-96) Page 109.
Name of Respondent This Report is:Date of Report Year of Report
(1) ~ An Original (Mo, Da, Yr)
PacifiCorp I (2) A Resubmission 04/30/2004 Dec 31 , 2003
IMPORTANT CHANGES DURING THE YEAR (Continued)
12.The following paragraph was extracted from the Company s Form 10-0 filing dated December 31 2003:
Utah
On December 17, 2003, the Utah Public Service Commission (the .UPSC") approved a stipulation allowing an
annual increase of $65.0 million, representing a 7.0% average price increase. The increase in customer rates is
effective April 1 , 2004. A stipulation on rate spread and rate design was filed with the UPSC on January 7, 2004. On
January 30, 2004, the UPSC approved the stipulation , which will result in a mechanism to collect the previously
ordered price increase.
The following paragraph was extracted from the Company s Form 10-0 filing dated December 31 2003:
Oreaon
On August 26, 2003, the Oregon Public Utility Commission (the .OPUC") approved a settlement of the Company
general rate case filed on March 18,2003. Under the settlement, base rates increased by $8.5 million annually on
September 1 , 2003, resulting in a 1.1% average price increase. The settlement also eliminated a $12.0 million
offsettable merger credit for the period from January 2004 to December 2004. A nonoffsettable merger credit will be
reduced from $6,0 million to $4.0 million, and the Company anticipates amortizing the credit to return the full
amount to customers by December 31 , 2004.
The following paragraph was extracted from the Company s Form 10-0 filing dated December 31 2003:
WvomimJ
On May 27, 2003, the Company filed a general rate case with the WPSC to recover rising costs (including
insurance premiums, pension funding and health care costs) and requested an increase in the return on equity to
11.5% to compensate the Company for general risks relating to the western United States utility environment, as
well as some additional risks relating to multijurisdictional operations, The Company has requested an annual
increase of $41,8 million, or 13,1 %, in base rates to take effect in March 2004. On December 23, 2003, the
Company filed rebuttal testimony in this proceeding, which lowered its requested annual increase to $38.6 million,
Hearings in the case were completed in January 2004. During the hearings, the Company's requested annual
increase was further lowered by the WPSC to approximately $34.9 million. The Company expects an order by early
March 2004, with new rates taking effect in late March 2004.
The following paragraph was extracted from the Company s Form 10-0 filing dated December 31 2003:
On September 26, 2003, the Company filed a request to establish a power cost adjustment mechanism (the
PCAM"). This mechanism will reduce the regulatory lag associated with recovery of net power costs, which are
defined as fuel and wheeling expenses and wholesale sales and purchases. The mechanism is proposed to
become effective April 1 , 2004. The PCAM includes two components: (1) an annual update that recovers
forecasted net power costs through a surcharge, and (2) a deferral mechanism between customers and
shareholders that shares variations in adjusted actual net power costs from forecasted net power costs. Since the
base net power cost rate will be established in the current general rate case, the first adjustment to the base net
power cost rate under the PCAM would be April 1, 2005, when the new forecasted net power cost would go into
effect. Also beginning in 2005, the Company would make a filing by July 31 of each year to set the PCAM deferral
rate to recover from, or retum to, customers any costs deferred during the prior deferral period, Hearings in the
PCAM case are scheduled for March 15 to 16, 2004 and an order is expected in early April 2004,
The following paragraph was extracted from the Company s Form 10-0 filing dated December 31 2003:
Washinaton
On December 16, 2003, the Company filed with the WUTC for a general rate increase of $26.7 million annually, or
13.5%. The Company s objectives are to recover higher power costs; recover increases in insurance, pension
health care, infrastructure and security costs; increase authorized return on equity to 11.25%; and receive approval
for the proposed interjurisdictional cost allocation protocol, In addition, the Company is requesting that the WUTC
adopt the findings of a prudence review of generating resources acquired since the last Washington general rate
case. The WUTC has adopted a procedural schedule requiring testimony from the staff and other parties in June
2004 and the Company s rebuttal testimony in July 2004. Hearings are scheduled to begin on August 30, 2004.
IFERC FORM NO.1 (ED. 12-96) Page 109.
Name of Respondent This Report is:Date of Report Year of Report
(1) ~ An Original (Mo, Da, Yr)
PacifiCorp (2) A Resubmission 04/30/2004 Dec 31 , 2OQ3
IMPORTANT CHANGES DURING T~ YEAR (Continued)
The following paragraph was extracted from the Company s Form 10-Q filing dated December 31 2003:
California
The California Public Utilities Commission (the .CPUC") issued a final order on November 13, 2003 approving two
stipulations in the general rate case and finalizing permanent rates. The order grants an additional annual increase
of $2.8 million effective December 1 , 2003, Combining this order with the interim increase authorized in June 2002
results in an overall annual price increase of $7.6 million. This represents a 13.6% average price increase,
The following paragraph was extracted from the Company s Form 10-Q filing dated December 31 2003:
DeDreciation Rate Chances
The Company received approval through general rate cases or separate proceedings from all state commissions
for changes in the Company s rates of depreciation. Effective April 1 , 2003, the resulting depreciation rate changes
reduced total Company annual depreciation expense by approximately $26.0 million, which includes removal costs,
and may ultimately result in lower future revenues or offset anticipated price increases.
Effective April 1 , 2003 the Company implemented three accounting methodology changes:
Pavroll Tax Accountina Chance
Prior to April 1 , 2003 the Company charged payroll taxes to account 408.1 Taxes Other Than Income Taxes, Utility
Operating Income. This included payroll taxes for both capital and expense labor. Beginning April 1 , 2003, the
company began charging payroll taxes to functional FERC accounts, This has the payroll taxes and labor
accounted for in the same FERC account. Since the Company has a fiscal year ending March 31 , this change was
implemented effective April 1, 2003 which is the start of the Company s fiscal year. The impact on the 1 st QTR
would have been as follows.
Functional Classification 1st QTR
Steam O&M
Hydro O&M
Other Generation O&M
Other Power Supply
Transmission O&M
Distribution O&M
Customer Accounts
Customer Service
A&G
Total OMAG
Other Income & Deductions
Total Other Income & Deductions
541,660
293,659
792
488,861
109 638
223,207
066 806
84,207
627 236
461,067
984
984
Total Payroll Taxes 468,051
IFERC FORM NO.1 (ED. 12-96) Page 109.
PacifiCorp
This Report is:
(1) ~ An Original
I (2) A Resubmission
IMPORTANT CHANGES DURING THE YEAR. (Continued)
Date of Report Year of Report
(Mo, Da, Yr)
04/30/2004 Dec 31 2003
Name of Respondent
Vehicle Decreciation Accountina Chanae
Prior to April 1 , 2003 the Company charged vehicle depreciation to account 403 Depreciation. Beginning April 1
2003, the Company began charging vehicle depreciation to functional accounts. Since the Company has a fiscal
year ending March 31 , this change was implemented effective April 1, 2003 which is the start of the Company
fiscal year, The impact on the 1 st OTR would have been as follows.
Functional Classification 1st QTR
Steam O&M
Hydro O&M
Other Generation O&M
Other Power Supply
Distribution O&M
Customer Accounts
Customer Service
A&G
Total OMAG
310,326
99,600
441
720
764,227
170
608
610
190,701
Total Vehicle Depreciation 190,701
Distribution. Transmission & Customer Services Cost Center Chanae
As part of the Company's ongoing organizational development , a review of administrative Distribution
Transmission, and Customer Service costs such as accounting, budgeting, and general support expenses was
completed to determine accounting treatment for these costs. The review showed these costs now directly
support the Distribution, Transmission, and Customer Service organizations and should be charged to those
functional areas. Since the Company has a fiscal year ending March 31 , this change was implemented effective
April 1 , 2003 which is the start of the Company s fiscal year. The effect of this change on the 1 st QTR would have
been as follows,
Functional Classification 1st QTR
154,726
318,464
010 983
332 225
(19,816 398)
Transmission O&M
Distribution O&M
Customer Accounts
Customer Service
A&G
Total OMAG
IFERC FORM NO.1 (ED. 12-96) Page 109.
This Report Is: Date of Report
(1) IZI An Original (Mo , Yr)
(2) 0 A Resubmission 04/30/2004
COMPARATIVE BALANCE SHEET (ASSETS AND OTHER DEBITS)Ref, Balance at
Page No. Beginning of Year(b) (c)
Name of Respondent
PacifiCorp
Year of Report
2003
Line
No.
Dec. 31
Title of Account
(a)
UTILITY PLANT
Balance at
End of Year
(d)
200-201 12,875,185 187 13,391 609 608
200-201 323 348 493 340,357 627
198 533,680 13,731 967 235
200-201 301 630 066 611 642,430
896 903 614 120 324 805
202-203
202-203
896 903 614 120 324 805
122
FERC FORM NO.1 (REV. 12-03)Page 110
Utility Plant (101-106, 114)
Construction Work in Progress (107)
TOTAL Utility Plant (Enter Total of lines 2 and 3)
(Less) Accum. Provo for Depr. Amort, Depl. (108 111 115)
Net Utility Plant (Enter Total of line 4 less 5)
Nuclear Fuel (120.120., 120.
(Less) Accum. Provo for Amort, of Nucl. Fuel Assemblies (120,
Net Nuclear Fuel (Enter Total of line 7 less 8)
Net Utility Plant (Enter Total of lines 6 and 9)
Utility Plant Adjustments (116)
Gas Stored Underground - Noncurrent (117)
OTHER PROPERTY AND INVESTMENTS
Nonutility Property (121)
(Less) Accum. Provo for Depr. and Amort. (122)
Investments in Associated Companies (123)
Investment in Subsidiary Companies (123.
(For Cost of Account 123., See Footnote Page 224, line 42)
Noncurrent Portion of Allowances
Other Investments (124)
Special Funds (125-128)
TOTAL Other Property and Investments (Total of lines 14-19-21)
CURRENT AND ACCRUED ASSETS
224-225
940,934
171,144
982 107
283,187
695 360
030 977
391 260
883 997
84,354,345
302,481
171 596,466
172,905
-43,022
590 389
871 655
280 155 319
998 491
39,564 131
323,105
158,757
53,546,693
550,850
647 642
56,582
10,813,746
150 791 505
862
253,211,896
228-229
79,414 689
431 040
173 880 813
227
227
227
227
227
227
202-203/227
228-229
224 599
447
000,000
344,611
270 987 245
503,510
329,990
321 261
519 188
69,561 552
509,235
178,610
994
249
130 838,000
550,989
204,941 760
Cash (131)
Special Deposits (132-134)
Working Fund (135)
Temporary Cash Investments (136)
Notes Receivable (141)
Customer Accounts Receivable (142)
Other Accounts Receivable (143)
(Less) Accum, Provo for Uncollectible Acct.-Credit (144)
Notes Receivable from Associated Companies (145)
Accounts Receivable from Assoc, Companies (146)
Fuel Stock (151)
Fuel Stock Expenses Undistributed (152)
Residuals (Elec) and Extracted Products (153)
Plant Materials and Operating Supplies (154)
Merchandise (155)
Other Materials and Supplies (156)
Nuclear Materials Held for Sale (157)
Allowances (158,1 and 158.
(Less) Noncurrent Portion of Allowances
Stores Expense Undistributed (163)
Gas Stored Underground - Current (164.
Liquefied Natural Gas Stored and Held for Processing (164,164.
Prepayments (165)
Advances for Gas (166-167)
Interest and Dividends Receivable (171)
Rents Receivable (172)
Accrued Utility Revenues (173)
Miscellaneous Current and Accrued Assets (174)
Derivative Instrument Assets (175)
227
Year of ReportName of Respondent
PacifiCorp
This Report Is: Date of Report
(1) IZI An Original (Mo , Yr)
(2) 0 A Resubmission 04/30/2004 Dec. 31
COMPARATIVE BALANCE SHEET (ASSETS AND OTHER DEBITSlContinued)Ref, Balance at
Page No. Beginning of Year(b) (c)
2003
Line
No.
Title of Account
(a)
Balance at
End of Year
(d)
Derivative Instrument Assets - Hedges (176)
TOTAL Current and Accrued Assets (Enter Total of lines 24 thru 53)
DEFERRED DEBITS
Unamortized Debt Expenses (181)
Extraordinary Property Losses (182.
Unrecovered Plant and Regulatory Study Costs (182.
Other Regulatory Assets (182.
Prelim, Survey and Investigation Charges (Electric) (183)
Prelim. Sur. and Invest. Charges (Gas) (183., 183,
Clearing Accounts (184)
Temporary Facilities (185)
Miscellaneous Deferred Debits (186)
Def. Losses from Disposition of Utility PIt. (187)
Research , Devel. and Demonstration Expend. (188)
Unamortized Loss on Reaquired Debt (189)
Accumulated Deferred Income Taxes (190)
Unrecovered Purchased Gas Costs (191)
TOTAL Deferred Debits (Enter Total of lines 56 thru 69)
TOTAL Assets and Other Debits (Enter Total oflines 10,54,70)
842 074,890 926,224 520
35,807 597 580,785
230
230 15,371 861 797,847
232 511,120,463 573 981,490
719,710 459 800
386,085 123,677
170,184 912
233 123,117 377 695,115
352-353
636,219 398 006
234 821 569 788 505
765,378,895 817 883 137
10,678,238,212 11,036 028,928
FERC FORM NO.1 (REV. 12-03)Page 111
Name of Respondent
PacifiCorp
Year of Report
2003
.. .
This Report Is: Date of Report
(1) IZI An Original (Mo , Yr)
(2) 0 A Resubmission 04/30/2004 Dec. 31
COMPARATIVE BALANCE SHEET (LIABILITIES AND OTHER CREDITS)Ref, Balance at
Page No, Beginning of Year(b) (c)
Line
No.
Title of Account
(a)
PROPRIETARY CAPITAL
Common Stock Issued (201)
Preferred Stock Issued (204)
Capital Stock Subscribed (202, 205)
Stock Liability for Conversion (203, 206)
Premium on Capital Stock (207)
Other Paid-In Capital (208-211)
Installments Received on Capital Stock (212)
(Less) Discount on Capital Stock (213)
(Less) Capital Stock Expense (214)
Retained Eamings (215, 215., 216)
Unappropriated Undistributed Subsidiary Eamings (216.
(Less) Reaquired Capital Stock (217)
Accumulated Other Comprehensive Income (219)
TOTAL Proprietary Capital (Enter Total of lines 2 thru 14)
LONG-TERM DEBT
933,226,675
108 963 300
42,037,474
939 900 721
665 529 617
122,308
274 401 297
250-251
250-251
252
252
252
253
252
254
254
118-119
118-119
250-251
122(a)(b)
256-257
256-257
256-257
256-257
532,823,464
362,888,000
54,590
616 384
891 149 670
Bonds (221)
(Less) Reaquired Bonds (222)
Advances from Associated Companies (223)
Other Long-Term Debt (224)
Unamortized Premium on Long-Term Debt (225)
(Less) Unamortized Discount on Long-Term Debt-Debit (226)
TOTAL Long-Term Debt (Enter Total of lines 17 thru 22)
OTHER NONCURRENT LIABILITIES
Obligations Under Capital Leases - Noncurrent (227)
Accumulated Provision for Property Insurance (228.
Accumulated Provision for Injuries and Damages (228.
Accumulated Provision for Pensions and Benefits (228.
Accumulated Miscellaneous Operating Provisions (228.
Accumulated Provision for Rate Refunds (229)
Asset Retirement Obligations (230)
TOTAL OTHER Noncurrent Liabilities (Enter Total of lines 25 thru 31)
CURRENT AND ACCRUED LIABILITIES
Notes Payable (231)
Accounts Payable (232)
Notes Payable to Associated Companies (233)
Accounts Payable to Associated Companies (234)
Customer Deposits (235)
Taxes Accrued (236)
Interest Accrued (237)
Dividends Declared (238)
Matured Long-Term Debt (239)
Matured Interest (240)
Tax Collections Payable (241)
Miscellaneous Current and Accrued Liabilities (242)
27,621 393
381 108
11,410,326
224 983,255
153,816
276 549 898
262-263
167 895 000
285,185,856
400 155
107 952
516 662
25,154 000
819,945
171 539
801 072
533 752
Balance at
End of Year
(d)
933,226,675
463,300
281 084
029 270,144
664,367 224
955,259
296,:356,552
764,569 610
60,000,000
51,872
535,780
820,085,702
462 560
742 390
12,230 424
430,367 542
054,337
65,056,481
540,913,734
225 000,000
271 890,617
19,608,243
757,417
20,952 162
718 526
55,045 018
520 947
695 787
279,890
FERC FORM NO.1 (REV. 12-D3)Page 112
This Report Is: Date of Report
(1) !ZI An Original (Mo, Da, Yr)
(2) 0 A Resubmission 04/30/2004 Dec.
COMPARATIVE BALANCE SHEET (LIABILITIES AND OTHER CREDITSXContinued)Ref. Balance at Balance at
Page No. Beginning of Year End of Year(b) (c) (d)
Name of Respondent
PacifiCorp
Year of Report
2003
Line
No.
Title of Account
(a)
Obligations Under Capital Leases-Current (243)
Derivative Instrument Liabilities (244)
Derivative Instrument Liabilities - Hedges (245)
TOTAL Current & Accrued Liabilities (Enter Total of lines 34 thru 48)
DEFERRED CREDITS
Customer Advances for Construction (252)
Accumulated Deferred Investment Tax Credits (255)
Deferred Gains from Disposition of Utility Plant (256)
Other Deferred Credits (253)
Other Regulatory Liabilities (254)
Unamortized Gain on Reaquired Debt (257)
Accumulated Deferred Income Taxes (281-283)
TOTAL Deferred Credits (Enter Total of lines 51 thru 57)
272-277
158.833
779,667 712
496,295 152
820,064
85,448,300
59,731 246
142 523 028
311 142
590 544 008
882 377 788
036,028 928
39,095
738,107,564
375 732 592
266-267
745,506
93,368,420
83,021 329
139,612,334
398 530
538,258 635
860,404 754
10,678,238,211
269
278
TOTAL Liab and Other Credits (Enter Total of lines 15,23,32,49,58)
FERC FORM NO.1 (REV. 12-03)Page 113
Name of Respondent This ~ort Is:Date of Report Year of Report
PacifiCorp (1) An Original (Mo, Da, Yr)Dec. 31 2003(2) n A Resubmission 04/30/2004
STATEMENT OF INCOME FOR THE YEAR
Report amounts for accounts 412 and 413, Revenue and Expenses from Utility Plant Leased to Others, in another Utility column (i,
, m, 0) in a similar manner to a utility department.Spread the amount(s) over Lines 02 thru 24 as appropriate,Include these amounts
in columns (c) and (d) totals.
Report amounts in account 414, Other Utility Operating income, in the same manner as accounts 412 and 413 above.
Report data for lines 8, 10, and 11 for Natural Gas companies using accounts 404.1 , 404., 404.3, 407.1 and 407.
Use pages 122-123 for important notes regarding the statement of income or any account thereof.
Give concise explanations concerning unsettled rate proceedings where a contingency exists such that refunds of a material amount
may need to be made to the utility's customers or which may result in a material refund to the utility with respect to power or gas
purchases.State for each year affected the gross revenues or costs to which the contingency relates and the tax effects together with
an explanation of the major factors which affect the rights of the utility to retain such revenues or recover amounts paid with respect to
power and gas purchases,
Give concise explanations concerning significant amounts of any refunds made or received during the year
Line Account (Ref.)TOTAL
No.Page No.
(a)(b)(c) (d)
UTILITY OPERATING INCOME
2 Operating Revenues (400)300-301 533 716,464 3,419 509,252
3 Operating Expenses
4 Operation Expenses (401)320-323 099 586 984 2 013 451 930
5 Maintenance Expenses (402)320-323 262 191.746 257 529,377
6 Depreciation Expense (403)336-337 356 099,545 368,266 698
7 Depreciation Expense for Asset Retirement Costs (403,336-337
8 Amort. & Depl. of Utility Plant (404-405)336-337 53,952 761 789 397
9 Amort. of Utility Plant Acq. Adj. (406)336-337 479,353 507 086
Amort. Property Losses, Unrecov Plant and Regulatory Study Costs (407)
Amort. of Conversion Expenses (407)
Regulatory Debits (407.872 701 997 525
(Less) Regulatory Credits (407.020,510 184,686
Taxes Other Than Income Taxes (408.262-263 .~I=C.=~=Income Taxes - Federal (409,262-263
- Other (409.262-263 I~Jtli\.\~'.t~~~;t1~8J:~
Provision for Deferred Income Taxes (410.234, 272-277 228,862 158 24,405 982
(Less) Provision for Deferred Income Taxes-Cr. (411.234, 272-277 169,961 205 38,263,254
Investment Tax Credit Adj, - Net (411,4) 266 940,091 854,863
(Less) Gains from Disp. of Utility Plant (411.
Losses from Disp, of Utility Plant (411.
(Less) Gains from Disposition of Allowances (411.585 037 566 761
Losses from Disposition of Allowances (411,
Accretion Expense (411,10)
TOTAL Utility Operating Expenses (Enter Total of lines 4 thru 24)067 999,905 939,833,557
Net Util Oper Inc (Enter Tot line 2 less 25) Carry to Pg117 line 27 465 716 559 479,675 695
FERC FORM NO.1 (ED. 12-96)Page 114
Name of Respondent This ~ort Is:Date of Report Year of Report
PacifiCorp (1) An Original (Mo, Da, Yr)Dec, 31 2003(2) nA Resubmission 04/30/2004
STATEMENT OF INCOME FOR THE YEAR (Continued)
resulting from settlement of any rate proceeding affecting revenues received or costs incurred for power or gas purchases, and a
summary of the adjustments made to balance sheet, income, and expense accounts.
1. If any notes appearing in the report to stockholders are applicable to this Statement of Income, such notes may be included on
pages 122-123.
8. Enter on page 123 a concise explanation of only those changes in accounting methods made during the year which had an effect on .
net income, including the basis of allocations and apportionments from those used in the preceding year. Also give the approximate
dollar effect of such changes.
9. Explain in a footnote if the previous year's figures are different from that reported in prior reports.
10. If the columns are insufficient for reporting additional utility departments, supply the appropriate account titles, lines 2 to 26, and
report the information in the blank space on page 123 or in a footnote.
ELECTRIC UTILITY GAS UTILITY OTHER UTILITY Line
No.(e) (f)
(g)
(h) (i)
1 '
533,716,464 3,419,509 252
099,586 984 2 013,451 930
262,191,746 257,529,377
356,099,545 368,266,698
952 761 789 397
479 353 507 086
872 701 997 525
020,510 184 686
105 934 524 123,964 333
113,289 157 566 061
13,196,799 18,140,816
228,862,158 405 982
169,961 205 263 254
940,091 854 863
585,037 566 761
067 999,905 939,833 557
465,716,559 479,675,695
FERC FORM NO.1 (ED. 12-96)Page 115
Name of Respondent This ~ort Is:Date of Report Year of Report
PacifiCorp (1) An Original (Mo, Da, Yr)
Dec. 31 2003(2) EjA Resubmission 04/30/2004
STATEMENT OF INCOME FOR THE YEAR (Continued)
Line OTHER UTILITY OTHER UTILITY OTHER UTILITY
No.Current Year Previous Year Current Year Previous Year Current Year Previous Year
(k)(I)(m)(n)(0)
(p)
FERC FORM NO.1 (ED. 12-96)Page 116
Name of Respondent
PacifiCorp
Year of Report
Dec. 31 2003
This ~ort Is: Date of Report
(1) ~ An Original (Mo, Da, Yr)
(2) A Resubmission 04/30/2004
STATEMENT OF INCOME FOR THE YEAR (Continued)
(Ref.)
Page No,
(b)
Line
No.
Account TOTAL
Previous Year
(d)
Current Year
(c)
! ~.-.. ."....--.- .. ... ",.. ,. .." ' ".. ....'.. -'-------'-,----'----.--'- .--. .-. ..----.. -.--------'---'-'--.
(a)
27 Net Utility Operating Income (Carried forward from page 114)
28 Other Income and Deductions
29 Other Income
30 Nonutilty Operating Income
31 Revenues From Merchandising, Jobbing and Contract Work (415)
32 (Less) Costs and Exp, of Merchandising, Job. & Contract Work (416)
33 Revenues From Nonutility Operations (417)
34 (Less) Expenses of Nonutility Operations (417.
35 Nonoperating Rental Income (418)
36 Equity in Eamings of Subsidiary Companies (418.
37 Interest and Dividend Income (419)
38 Allowance for Other Funds Used During Construction (419.
39 Miscellaneous Nonoperating Income (421)
40 Gain on Disposition of Property (421.
41 TOTAL Other Income (Enter Total oflines 31 thru 40)
42 Other Income Deductions
43 Loss on Disposition of Property (421.
44 Miscellaneous Amortization (425)
45 Miscellaneous Income Deductions (426.1-426.
46 TOTAL Other Income Deductions (Total of lines 43 thru 45)
47 Taxes Applic. to Other Income and Deductions
48 Taxes Other Than Income Taxes (408.
49 Income Taxes-Federal (409.
50 Income Taxes-Other (409.
51 Provision for Deferred Inc. Taxes (410,
52 (Less) Provision for Deferred Income Taxes-Cr. (411.
53 Investment Tax Credit Adj.Net (411.
54 (Less) Investment Tax Credits (420)
55 TOTAL Taxes on Other Income and Deduct. (Total of 48 thru 54)
56 Net Other Income and Deductions (Enter Total lines 41, 46, 55)
57 Interest Charges
58 Interest on Long-Term Debt (427)
59 Amort. of Debt Disc. and Expense (428)
60 Amortization of Loss on Reaquired Debt (428,
61 (Less) Amort. of Premium on Debt-Credit (429)
62 (Less) Amortization of Gain on Reaquired Debt-Credit (429.
63 Interest on Debt to Assoc, Companies (430)
64 Other Interest Expense (431)
65 (Less) Allowance for Borrowed Funds Used During Construction-Cr. (432)
66 Net Interest Charges (Enter Total of lines 58 thru 65)
67 Income Before Extraordinary Items (Total of lines 27, 56 and 66)
68 Extraordinary Items
69 Extraordinary Income (434)
70 (Less) Extraordinary Deductions (435)
71 Net Extraordinary Items (Enter Total of line 69 less line 70)
72 Income Taxes-Federal and Other (409.
73 Extraordinary Items After Taxes (Enter Total of line 71 less line 72)
74 Net Income (Enter Total of lines 67 and 73)
465,716,559
119
204 117
361 265
913,107
13,237
633
162,393
832 492
943,773
106,001,420
977 838
131 607 005
340
340
636 476
590 049
136 927 334
141,153,859
479,675 695
472 306
235,565
651 863
978
56,384
402,234
636,130
878 807
109 171 362
514 294
132,559,205
773 728.
581 716
96,848,716
100,656,704
262-263 349,138 193,725
262-263
262-263 957 265 246,742
234, 272-277 679,661 593,867
234, 272-277 226 715
980,029 065,260
611 997 706,429
065 143 608,930
~----
340
340
220 390 392
670 074
022 423
718
389
714 053
030,045
432 882
260,303,998
216 477 704
223 270 934
666 130
5,462 357
718
159 067
572 506
584 023
629 673
293 764,492
221 520 133
1,470,993
,.......,.-----
i "
" ,. " ," '.' ..,
991 994
262-263
470 993
~~~~r~l'$tli~;g~~
912,751
215,564,953
991 994
135,492
856,502
219,663,631
FERC FORM NO.1 (ED. 12-96)Page 117
Name of Respondent
PacifiCorp
Year of Report
Dec, 31 2003
This ~ort Is: Date of Report
(1) ~ An Original (Mo, Da, Yr)
(2) A Resubmission 04/30/2004
STATEMENT OF RETAINED EARNINGS FOR THE YEAR
1. Report all changes in appropriated retained earnings, unappropriated retained earnings, and unappropriated undistributed
subsidiary earnings for the year.
2. Each credit and debit during the year should be identified as to the retained earnings account in which recorded (Accounts 433, 436
- 439 inclusive). Show the contra primary account affected in column (b)
3. State the purpose and amount of each reservation or appropriation of retained eamings.
4. List first account 439, Adjustments to Retained Earnings, reflecting adjustments to the opening balance of retained earnings. Follow
by credit, then debit items in that order.
5. Show dividends for each class and series of capital stock.
6, Show separately the State and Federal income tax effect of items shown in account 439, Adjustments to Retained Earnings.
7. Explain in a footnote the basis for determining the amount reserved or appropriated, If such reservation or appropriation is to be
recurrent, state the number and annual amounts to be reserved or appropriated as well as the totals eventually to be accumulated.
8, If any notes appearing in the report to stockholders are applicable to this statement, include them on pages 122-123.
Ine
No.Item
(a)
UNAPPROPRIATED RETAINED EARNINGS (Account 216)
1 Balance-Beginning of Year
2 Changes
3 Adjustments to Retained Eamings (Account 439)
9 TOTAL Credits to Retained Eamings (Acct. 439)
15 TOTAL Debits to Retained Eamings (Acct. 439)
16 Balance Transferred from Income (Account 433 less Account 418.
17 Appropriations of Retained Eamings (Acct. 436)
22 TOTAL Appropriations of Retained Eamings (Acct. 436)
23 Dividends Declared-Preferred Stock (Account 437)
24 Preferred Dividends (Various Series and Rates)
29 TOTAL Dividends Declared-Preferred Stock (Acct. 437)
30 Dividends Declared-Common Stock (Account 438)
31 Common Dividends
36 TOTAL Dividends Declared-Common Stock (Acct. 438)
37 Transfers from Acct 216., Unapprop. Undistrib, Subsidiary Earnings
38 Balance - End of Year (Total 1 37)
APPROPRIATED RETAINED EARNINGS (Account 215)
214 402 560
I .
.. .. ... .
614 333
-4,614 333
. ... . . .
i .
120,418,804
120,418,804
025,694 333
. .
FERC FORM NO.1 (ED. 12-96)Page 118
Name of Respondent
PacifiCorp
Year of Report
Dec. 31, 2003
This ~ort Is: Date of Report
(1) ~ An Original (Mo, Da, Yr)
(2) A Resubmission 04/30/2004
STATEMENT OF RETAINED EARNINGS FOR THE YEAR
1. Report all changes in appropriated retained earnings, unappropriated retained earnings, and unappropriated undistributed
subsidiary earnings for the year.
2. Each credit and debit during the year should be identified as to the retained earnings account in which recorded (Accounts 433, 436.
- 439 inclusive). Show the contra primary account affected in column (b)
3, State the purpose and amount of each reservation or appropriation of retained earnings.
4. List first account 439, Adjustments to Retained Earnings, reflecting adjustments to the opening balance of retained eamings, Follow
by credit, then debit items in that order.
5. Show dividends for each class and series of capital stock.
6. Show separately the State and Federal income tax effect of items shown in account 439, Adjustments to Retained Earnings.
7. Explain in a footnote the basis for determining the amount reserved or appropriated. If such reservation or appropriation is to be
recurrent, state the number and annual amounts to be reserved or appropriated as well as the totals eventually to be accumulated.
8. If any notes appearing in the report to stockholders are applicable to this statement, include them on pages 122-123.
No.Item
(a)
mount
(c)
45 TOTAL Appropriated Retained Eamings (Account 215)
APPROP. RETAINED EARNINGS - AMORT. Reserve, Federal (Account 215.1)
46 TOTAL Approp. Retained Earnings-Amort. Reserve, Federal (Acct. 215.
47 TOTAL Approp. Retained Eamings (Acct. 215, 215.1) (Total 45,46)
48 TOTAL Retained Eamings (Account 215, 215,, 216) (Total 38, 47)
UNAPPROPRIATED UNDISTRIBUTED SUBSIDIARY EARNINGS (Account 216.
49 Balance-Beginning of Year (Debit or Credit)
50 Equity in Eamings for Year (Credit) (Account 418.1)
51 (Less) Dividends Received (Debit)
53 Balance-End of Year (Total lines 49 thru 52)
. .
575,811
575,811
029,270,144
665,529,617
162 393
664,367 224
FERC FORM NO.1 (ED. 12-96)Page 119
Name of Respondent
PacifiCorp
This ~ort Is:(1) ~An Original
(2) A Resubmission
STATEMENT OF CASH FLOWS
Date of Report
(Mo, Da, Yr)
04/30/2004
Year of Report
Dec. 31 2003
1. If the notes to the cash flow statement in the respondents annual stockholders report are applicable to this statement, such notes should be included
in page 122-123. Information about non-cash investing and financing activities should be provided on Page 122-123. Provide also on pages 122-123 a
reconciliation between "Cash and Cash Equivalents at End of Year" with related amounts on the balance sheet.
2. Under "Other" specify significant amounts and group others.
3. Operating Activities - Other: Include gains and losses pertaining to operating activities only. Gains and losses pertaining to investing and financing
activities should be reported in those activities. Show on Page 122-123 the amount of interest paid (net of amounts capitalized) and income taxes paid.
(a)
1 Net Cash Flow from Operating Activities:
2 Net Income
3 Noncash Charges (Credits) to Income:
Depreciation and Depletion
Amortization of (provide details in footnote):
22 Net Cash Provided by (Used in) Operating Activities (Total 2 thru 21)
34 Cash Outflows for Plant (Total of lines 26 thru 33)
mounts
Deferred Income Taxes (Net)
Investment Tax Credit Adjustment (Net)
Net (Increase) Decrease in Receivables
Net (Increase) Decrease in Inventory
Net (Increase) Decrease in Allowances Inventory
Net Increase (Decrease) in Payables and Accrued Expenses
Net (Increase) Decrease in Other Regulatory Assets
Net Increase (Decrease) in Other Regulatory Liabilities
(Less) Allowance for Other Funds Used During Construction
(Less) Undistributed Eamings from Subsidiary Companies
Other (provide details in footnote):
575,388
920,120
-42,272,200
16,973,244
29,958,036
63,193,172
641 258
943,772
418,704
fg~it~?~:'.j~t:;z~~~t~!~'(g~
828,490,079
Cash Flows from Investment Activities:
Construction and Acquisition of Plant (including land):
Gross Additions to Utility Plant (less nuclear fuel)
Gross Additions to Nuclear Fuel
Gross Additions to Common Utility Plant
Gross Additions to Nonutility Plant
(Less) Allowance for Other Funds Used During Construction
Other (provide details in footnote):
630 149,975
630,149,975
Acquisition of Other Noncurrent Assets (d)
Proceeds from Disposal of Noncurrent Assets (d)12,034 393
Investments in and Advances to Assoc, and Subsidiary Companies
Contributions and Advances from Assoc. and Subsidiary Companies
Disposition of Investments in (and Advances to)
Associated and Subsidiary Companies
091 527
Purchase of Investment Securities (a)
Proceeds from Sales of Investment Securities (a)
FERC FORM NO.1 (ED, 12-96)Page 120
4, Investing Activities include at Other (line 31) net cash outflow to acquire other companies. Provide a reconciliation of assets acquired with liabilities
assumed on pages 122-123. Do not include on this statement the dollar amount of Leases capitalized per US of A General Instruction 20; instead
provide a reconciliation of the dollar amount of Leases capitalized with the plant cost on pages 122-123.
5, Codes used:
(a) Net proceeds or payments. (c) Include commercial paper.
(b) Bonds, debentures and other long-term debt. (d) Identify separately such items as investments, fixed assets, intangibles, etc.
6. Enter on pages 122-123 clarifications and explanations.
escnp on ee nstruc Ion 0, or xp anation 0
Name of Respondent
PacifiCorp
This ~ort Is:(1) ~An Original
(2) A Resubmission
STATEMENT OF CASH FLOWS
(a)
46 Loans Made or Purchased
47 Collections on Loans
56 Net Cash Provided by (Used in) Investing Activities
57 Total of lines 34 thru 55)
59 Cash Flows from Financing Activities:
60 Proceeds from Issuance of:
66 Net Increase in Short-Term Debt (c)
67 Other (provide details in footnote):
70 Cash Provided by Outside Sources (Total 61 thru 69)
78 Net Decrease in Short-Term Debt (c)
85 Net Increase (Decrease) in Cash and Cash Equivalents
86 (Total of lines 22 57 and 83)
88 Cash and Cash Equivalents at Beginning of Year
90 Cash and Cash Equivalents at End of Year
Net (Increase) Decrease in Receivables
Net (Increase) Decrease in Inventory
Net (Increase) Decrease in Allowances Held for Speculation
Net Increase (Decrease) in Payables and Accrued Expenses
Other (provide details in footnote):
Long-Term Debt (b)
Preferred Stock
Common Stock
Other (provide details in footnote):
Payments for Retirement of:
Long-term Debt (b)
Preferred Stock
Common Stock
Other (provide details in footnote):
Dividends on Preferred Stock
Dividends on Common Stock
Net Cash Provided by (Used in) Financing Activities
(Total of lines 70 thru 81)
FERC FORM NO.1 (ED. 12-96)Page 121
Date of Report(Mo, Da, Yr)
04/30/2004
Year of Report
Dec. 31 2003
mounts
(b)
396 980 000
055 631
454,035,631
168 231 107
500 000
792 540
120,807 145
720 272
Name of Respondent
PacifiCorp
Date of Report
04/30/2004
Year of Report
Dec. 31, 2003
This Report Is:(1) An Original
(2) 0 A Resubmisslon
NOTES TO FINANCIAL STATEMENTS
1. Use the space below for important notes regarding the Balance Sheet, Statement of Income for the year, Statement of Retained
Earnings for the year, and Statement of Cash Flows, or any account thereof. Classify the notes according to each basic statement
providing a subheading for each statement except where a note is applicable to more than one statement.
2. Furnish particulars (details) as to any significant contingent assets or liabilities existing at end of year, including a brief explanation of
any action initiated by the Internal Revenue Service involving possible assessment of additional income taxes of material amount, or of
a claim for refund of income taxes of a material amount initiated by the utility. Give also a brief explanation of any dividends in arrears
on cumulative preferred stock.
3, For Account 116, Utility Plant Adjustments, explain the origin of such amount, debits and credits during the year, and plan of
disposition contemplated, giving references to Cormmission orders or other authorizations respecting classification of amounts as plant
adjustments and requirements as to disposition thereof.
4. Where Accounts 189, Unamortized Loss on Reacquired Debt, and 257, Unamortized Gain on Reacquired Debt, are not used, give
an explanation , providing the rate treatment given these items. See General Instruction 17 of the Uniform System of Accounts.
5. Give a concise explanation of any retained eamings restrictions and state the amount of retained earnings affected by such
restrictions.
6. If the notes to financial statements relating to the respondent company appearing in the annual report to the stockholders are
applicable and furnish the data required by instructions above and on pages 114-121 , such notes may be included herein.
PAGE 122 INTENTIONALLY LEFT BLANK
SEE PAGE 123 FOR REQUIRED INFORMATION.
FERC FORM NO.1 (ED. 12-96)Page 122
Name of Respondent This Report is:Date of Report Year of Report
(1) ~ An Original (Mo, Da, Yr)
PacifiCorp (2)A Resubmisslon 04/30/2004 Dec 31 2003
NOTES TO FINANCIAL STATEMENTS (Continued)
See supplemental filing.
IFERC FORM NO.(ED. 12-88) Page 123,
Name of Respondent This ~ort Is:Date of Report Year of Report
PacifiCorp (1) An Original (Mo, Da, Yr)Dec. 31 2003(2) nA Resubmission 04/30/2004
STATEMENTS OF ACCUMULATED COMPREHENSIVE INCOME, COMPREHENSIVE INCOME, AND HEDGING ACTIVITIES
1. Report in columns (b) (c) and (e) the amounts of accumulated other comprehensive income items, on a net-of-tax basis, where appropriate.
2. Report in columns (f) and (g) the amounts of other categories of other cash flow hedges,
3. For each category of hedges that have been accounted for as "fair value hedges , report the accounts affected and the related amounts in a footnote.
Line Item Unrealized Gains and Minimum Pension Foreign Currency Other
No.Losses on Available-Liability adjustment Hedges Adjustments
for-Sale Securities (net amount)
(a)(b)(c)(d)(e)
1 Balance of Account 219 at Beginning of
Preceeding Year
2 Preceding yr. Reclassification from Account
219 Net Income
3 Preceding Year Changes in Fair Value 122 308
4 Total (lines 2 and 3)122 308
5 Balance of Account 219 at End
Preceding Yr/Beginning of Current Yr 122 308
6 Current Year Reclassification From Account
219 to Net Income
7 Current Year Changes in Fair Value 29,779)862 731
8 Total (lines 6 and 7)29,779)862,731
9 Balance of Account 219 at End of Current
Year 529 862,731
FERC FORM NO.1 (NEW 06-02)Page 122a
Name of Respondent This ~ort Is: Date of Report Year of Report
P '(1) ~An Original (Mo, Da, Yr) Dec. 31 2003aci I orp (2) A Resubmission 04/30/2004
STATEMENTS OF ACCUMULATED COMPREHENSIVE INCOME, COMPREHENSIVE INCOME, AND HEDGING ACTIVITIES
(f)
Other Cash Flow Totals for each Net Income (Carried Total
Hedges category of items Forward from Comprehensive
(Specify)recorded in Page 117, Line 72)Income
Account 219
(g)
(h)(i)
Line
No.
Other Cash Flow
Hedges
(Specify)
122,308
122 308
122 308
832 952
832 952
955,260
FERC FORM NO.1 (NEW 06-02)Page 122b
Name of Respondent
PacifiCorp
This ~ort Is: Date of Report(1) ~An Original (Mo, Da, Yr)
(2) A Resubmission 04/30/2004
SUMMARY OF UTILITY PLANT AND ACCUMULATED PROVISIONS
FOR DEPRECIATION. AMORTIZATION AND DEPLETION
Year of Report
Dec. 31 2003
(a)(b)
Electric
(c)
Line
No.
Classification Total
1 Utility Plant
2 In Service
3 Plant in Service (Classified)
4 Property Under Capital Leases
5 Plant Purchased or Sold
~- ---------------
I-. ---------_._--
------------------- -. ---~-- ~_.
214,419 723
697,610
260,525
214 419 723
697,610
260 525
6 Completed Construction not Classified
7 Experimental Plant Unclassified
8 Total(3 thru 7)
9 Leased to Others
10 Held for Future Use
11 Construction Work in Progress
12 Acquisition Adjustments
13 Total Utility Plant (8 thru 12)
14 Accum Prov for Depr, Amort, & Depl
15 Net Utility Plant (13 less 14)
16 Detail of Accum Prov for Depr, Amort & Depl
17 In Service:
18 Depreciation
19 Amort & Depl of Producing Nat Gas Land/Land Right
20 Amort of Underground Storage Land/Land Rights
21 Amort of Other Utility Plant
22 Total In Service (18 thru 21)
23 Leased to Others
13,232 856,808 232 856,808
559,020
340,357,627
157 193 780
13,731 967 235
611 642 430
120,324 805
559 020
340,357 627
157 193,780
731 967,235
611 642 430
120 324 805
24 Depreciation
25 Amortization and Depletion
26 Total Leased to Others (24 & 25)
27 Held for Future Use
28 Depreciation
29 Amortization
~--
530 530
30 Total Held for Future Use (28 & 29)
31 Abandonment of Leases (Natural Gas)
32 Amort of Plant Acquisition Adj
33 Total Accum Prov (equals 14) (22 32)
530 530
63,450,755
611 642,430
63,450 755
611 642,430
FERC FORM NO.1 (ED. 12-89)Page 200
Name of Respondent
PacifiCorp
Gas
This ~ort Is: Date of Report
(1) ~ An Original (Mo, Da, Yr)
(2) A Resubmission 04/30/2004
SUMMARY OF UTILITY PLANT AND ACCUMULATED PROVISIONS
FOR DEPRECIATION. AMORTIZATION AND DEPLETION
Other (Specify) Other (Specify) Other (Specify)
Year of Report
Dec. 31 2003
Common
~---~-,-,--~-,-=~------j .. . '
=---C.
--------------=--- ~~---- =~~-'----'-------'---=------ . ... .. .. .... . . .. .. .. .
(d)(e)(f)
(g)
(h)
Line
No.
: .. .' . .. .. .. . .:...~--'-'..._-~-----==-----------~- .~...~-_. ,--
, c_._
,-,,-.......-..--...........-,-- -,-,---"-,--~=",---"-,--.~----~"",,,,
~-----~--,~~c----,----._..i. '
.. .. .. .. . .. . . . .. ... .. . . .. .. .. . .. .. ... .' .. . .. ... '. ..'. .. .. .. . .. . . .' .. .. .. ... ... . .. .. .. .. .. .
I ..
. .... . . .. .. ... ... ... . .... .. ... . .. .. ..... .. .. .. . .. .. ... . . . . . .' ... '. .----------------------
FERC FORM NO.1 (ED. 12-89)Page 201