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• <br />u <br />Ordinance No. 1332, Page 2 <br /> <br />a. Operations and 1~Iaintenance Expenses <br />Adjustmen s to the Company's O & M expenses amounted to <br />$7,260.,000.00. The major adjustments include reductions in <br />salaxies and wages expense of $2,695,000.00, employee benefits <br />of $291,OOD.00, wheeling cost and line loss of $818,000.00, <br />amortization of deferred charges of $241,000.00, $2,922,000.00 <br />for other Operations and Maintenance expenses, $498,000.00 for <br />uncollectibles, $422,000.00 for liquid metal breeder reactor <br />• accrual, and $122,000.00 for South Texas Project litigation <br />fees, and an addition of $749,000.00 for Electric Power Research <br />Institute support. <br />b. Federal Income Taxes <br />The adjustment to the Cost of Service for Federal Income <br />Taxes is a reduction of $30,673,000.00. <br />c. Other Taxes and Fees <br />The total adjustment for all taxes other than federal income <br />taxes is a reduction of $2,409,000.00. The components of this <br />adjustment are the Public Utility Commission fee, State gross <br />receipts taxes, ad valorem taxes, and payroll taxes. An addi- <br />tional reduction of $2,621,000.00 for local franchise fees was <br />also made. <br />• d. Return <br />The rate of return on equity is 16.95 percent. The rate <br />fl~ _retua~n on invested capital is 12.73 percent and the return <br />on the adjusted value of invested capital is 8.25 percent. <br />2. Invested Capital <br />The invested capital is determined to be $3,953,996,000.00. <br />3. Adjusted Value of Invested Capital <br />The adjusted value of invested capital is $6,103,672,000..00. <br />The adjusted value of invested capital includes $943,643,000.00 <br />