A Year in Review 2012 Financial Statements OEC’s performance was strong for 2012 despite the
economy and rising concerns about regulation raising prices. T e cooperative retains compliance in accordance with its lender, the National Rural Utilities Cooperative Finance Corporation. OEC reports patronage capital, or margins, of $7,056,078 for the year. T ese summarized fi nancial statements for 2012
are based on an audit prepared by the certifi ed public accounting fi rm of BKD, LLP. A full copy of the audit is available for review by members at OEC’s corporate headquarters in Norman.
ASSETS & OTHER DEBITS Total Utility Plant in Service
Construction Work in Progress Total Utility Plant Acc. Prov. for Depreciation
NET UTILITY PLANT
Invest. Assc. Patronage Capital Invest. Assc. Other–General Funds Invest. Assc. Other–NonGen Funds Other Investments Special Funds
TOTAL OTHER PROPERTY & INVESTMENTS
2012 OPERATING REVENUE
EXPENSES Purchased Power Distribution Expense Consumer Accounts Expense Customer Service Expense Sales Expense Administrative & General Expense
Depreciation Expense Tax Expense–Other Interest on Long Term Debt Interest Expense–Other Other Deductions
COST OF ELECTRIC SERVICE
Operating Patronage Capital Non-Operating Margins Interest Income (Loss) from Equity Investments
Non-Operating Margins–Other Generation & Transmission Capital Credits
Other Capital Credits TOTAL PATRONAGE CAPITAL
$114,302,781
66,356,108 14,472,764 3,985,318 1,273,305 279,661
3,697,306 8,299,081 3,363,367 8,498,281 (159,105) 10,139
110,076,225
4,226,556 306,523 0
(258,278)
2,145,250 636,026
2011 $113,244,974
69,526,954 13,245,625 3,966,694 1,192,081 270,786
3,494,898 7,682,193 3,349,213 8,072,001 (154,624) 16,968
110,662,789
2,582,185 307,290 0
(503,685)
1,731,573 725,078
$7,056,077 $4,842,441
Cash–General Funds Special Deposits Temporary Investments Notes Receivable Accounts Receivable Accounts Receivable–Other Material & Supplies Prepayments Other Current & Accrued Assets
TOTAL CURRENT & ACCRUED ASSETS
Deferred Debits TOTAL ASSETS & OTHER DR
2012
$239,239,490 5,283,248
244,522,738 71,215,236
173,307,502
31,226,104 0
6,206,809 0
12,081 37,444,994
2,637,607 5 0 0
12,082,450 166,252 368,306 468,711 73,722
15,797,053 15,505,172
LIABILITIES & OTHER CREDITS Memberships
Patronage Capital Non-Operating Margins–Current Year Non-Operating Margins Other Margins & Equities
TOTAL MARGINS & EQUITIES Long-Term Debt, CFC TOTAL LONG-TERM DEBT
OTHER NONCURRENT LIABILITIES
Notes Payable Accounts Payable Consumer Deposits Other Current & Accrued Liabilities
TOTAL CURRENT & ACCRUED LIABILITIES
Deferred Credits TOTAL LIABILITIES & OTHER CR
$195,530
63,377,527 7,007,832 48,245
5,422,130 76,051,264
137,445,114 137,445,114
9,924,888
5,024,307 8,799,948 1,411,903 2,323,466
17,559,624 2011
$214,012,664 16,755,341
230,768,005 65,830,472
164,937,533
28,755,224 0
6,323,805 0
222,081 35,301,110
2,327,616 5
1,080,000 0
10,619,816 988,556 394,886 465,059 73,628
15,949,566 14,470,735
$242,054,721 $230,658,944 $192,250
62,312,100 5,038,836 (196,395) 4,469,634
71,816,425
133,884,072 133,884,072
9,554,294 585,019
9,733,392 1,583,721 2,116,810
14,018,942 1,073,831 1,385,211
$242,054,721 $230,658,944 News Magazine
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