Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Dean Gaulberry who wrote (622)	3/31/1998 1:31:00 PM
From: Lorsung	Read Replies (1) \| Respond to of 3873

The $11 options for CalEnergy were exercised last fall about the same time as the CE selloff was announced. Once again, Kiewit carries most assets on its books, such as the coal properties, at the lesser of cost or market value. The coal mines as they are currently formed, were established in the early Seventies, with the exception of Walnut Creek in Texas. CalEnergy was carried on the books via the equity method. Kiewit's share of C-TEC, [now RCN et al,] is consolidated with KDG, thus each asset and liability is added to similar items for the rest of KDG. Under Kiewit's certificate of incorporation, the formula value of the Class D common stock is the sum of (a) the stockholders' equity of KDG and its consolidated subsidiaries and (b) one-half of the stockholders equity of the parent company, PKS, on an unconsolidated basis, divided by (c) the number of outstanding Class D shares on the last day of the fiscal year, then (d) rounded to the nearest nickel. The stockholders' equity in the parent, PKS, Inc. is zero. Long term debt, as of June 1997, was $377 million. Total assets were $2,688 million [prior to CE sale]. The book value of Class D stock last June was $55.62.