10. MONITORED SERVICES’ CUSTOMER ACCOUNTS
The following is a rollforward of
the investment in customer accounts (at cost) of the monitored services
segment for the following years:
 Accumulated amortization of the investment
in customer accounts at December 31, 2002 was $678.9 million and
$614.5 million at December 31, 2001. Customer account amortization
expense was $83.3 million for 2002, $148.0 million for 2001, and
$158.7 million for 2000.
During 2002, the monitored services
segment had a net loss of 62,656 customers or a 5.3% decrease in
its customer base from January 1, 2002.
11. SHORT-TERM DEBT
Certain banks provide us a revolving
credit facility on a committed basis totaling $150 million. The
facility is secured by KGE’s first mortgage bonds and matures on
June 6, 2005, provided that if we have not refinanced or provided
for the payment of our putable/ callable notes due August 15, 2003,
or our 6.875% senior unsecured notes due August 1, 2004, at least
60 days prior to either of the respective due dates, the maturity
date is 60 days prior to either of the respective due dates. As
of December 31, 2002, borrowings on the revolving credit facility
were $1.0 million, leaving $149 million remaining capacity under
this facility. See Note 12 for a discussion of covenants applicable
to our credit facilities.
We also had arrangements with certain
banks to provide unsecured short-term lines of credit on a committed
basis totaling approximately $7.0 million through December 31, 2002.
These lines of credit were canceled on December 31, 2002.
Information regarding our short-term
borrowings is as follows:
Our interest expense on short-term debt and other was $39.8 million
in 2002, $40.6 million in 2001 and $63.1 million in 2000.
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12. LONG-TERM DEBT
Outstanding Debt
Long-term debt outstanding is as follows
at December 31:
(a)Funds have been irrevocably deposited with the
bond trustee to provide for repayment of this obligation.
(c)Debt
premiums and discounts are being amortized over the remaining lives
of each issue.
(d)Includes
capital leases, which are discussed in further detail in Note 25.
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