18 CFR Part 2, Appendix C to Part 2 - Nationwide Proceeding Computation of Federal Income Tax Allowance Independent Producers, Pipeline Affiliates and Pipeline Producers Continental U.S.-1972 Data (Docket No. R-478)

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Appendix C to Part 2—Nationwide Proceeding Computation of Federal Income Tax Allowance Independent Producers, Pipeline Affiliates and Pipeline Producers Continental U.S.—1972 Data (Docket No. R-478)
Line No. Particulars Schedule No. Line No. (1)—Total 1 (2)—Total excluding production taxes 2 (3)—Gas only 3 (4)—Lease separation 3 (5)—No lease separation 3 (6)—Total 4 (7)—Percentage lease separation gas 5 (8)—Allocated amount gas 6
1 Lines 1 thru 15, col. (1). From Notice issued Sept. 12, 1974, app. A, p. 12, col. (d).
2 Production taxes have been deleted from col. (1).
3 From notice issued Sept. 12, 1974, app. A, p. 12, cols. (g), (h), and (i).
4 Col. (3) plus col. (4) plus col. (5).
5 Calculated on a modified British thermal unit basis (1.5 to 1).
6 Col. (7) times col. (4), plus cols. (3) and (5).
7 See composites mailed to all parties on Feb. 13, 1974.
8 Calculated, 188.8 percent (A R64-1-2) times $779,097,382 equals $1,470,935,857.
9 Calculated 0.0146 (interest rate) times $16,701,817,818 (app. A, schedule 2-A, (d), line 11, p. 13) equals $243,846,540.
10 $577,745,791 divided by 9,508,369,001 equals 6.08 cents per thousand cubic feet.
production, exploration and development costs
2 Direct and indirect lease costs and expenses 1-A 01 1,694,893,558 1,694,893,558 57,287,938 $144,679,567 $19,763,791 $221,731,296 90.33 207,740,782
2 Taxes (except income and production) A-1 02 210,335,720 210,335,720 16,507,630 20,431,444 4,360,024 41,299,098 9.33 39,323,337
4 Production taxes 1-A 03 479,424,297 27,124,210 96,699,673 10,005,599 133,829,482 90.33 124,478,624
5 Other lease expenses 1-A 04 61,102,433 61,102,433 17,527,077 24,988,900 336,427 42,852,404 90.33 40,435,977
6 Depletion, depreciation and amortization 1-A 05 1,716,823,070 1,716,823,070 105,999,777 297,881,312 25,502,048 429,383,137 90.33 400,578,014
7 Corporate general expense 1-A 06 278,845,909 278,845,909 13,611,337 25,077,796 3,579,728 42,268,861 90.33 39,843,838
8 Area, district, division and field expense 1-A 07 261,718,417 26,178,417 7,207,320 21,758,604 2,778,944 31,744,868 90.33 29,640,811
9 Miscellaneous lease revenues 1-A 09 (12,203,136) (12,203,136) (1,348,729) (2,768,788) (314,067) (4,431,584) 90.33 (4,163,842)
10 Return on production rate base at 15 percent 1-A 13 2,505,272,672 2,505,272,672 186,055,524 427,939,601 69,857,212 663,852,337 90.33 622,470,578
11 Exploration and development costs and expenses 1-A 15 1,673,945,853 1,673,945,853 594,971,262
12 Return on exploration rate base at 15 percent 1-A 16 588,558,894 588,558,894 234,604,103
13 Regulatory commission expense including return 1-A 17 6,514,279 6,514,279 6,514,852
14
15 Total computed revenue 9,465,231,966 8,985,807,669 2,336,439,376
16(gross income)
17
18 revenue deductions
19 Direct and indirect lease costs and expenses 1-A 01 1,694,893,558 1,694,893,558 207,740,872
20 Taxes (except income and production) 1-A 02 210,335,720 210,335,720 39,323,377
21 Production taxes 1-A 03 479,424,297 124,478,624
22 Other lease expenses 1-A 04 61,102,433 61,102,433 40,435,977
23 Book depletion 7 (283,121,142) 283,121,242 24,287,986 61,675,828 6,177,596 92,141,410 90.33 86,177,357
24 Depreciation expense 1-A 05 7 (654,604,447) 654,604,447 30,223,586 94,010,520 7,007,662 131,241,768 90.33 122,150,951
25 Amortization of capitalized IDC 7 (779,097,382) 779,097,382 51,488,205 142,194,964 12,316,790 205,999,959 90.33 192,249,706
26 Corporate general expense 1-A 06 278,845,909 278,845,909 39,843,838
27 Area, district, division and field expense 1-A 07 261,718,417 261,718,417 29,640,811
28 Miscellaneous lease revenues 1-A 09 (12,203,136) (12,203,136) (4,163,842)
29 Exploration and development costs and expenses 1,673,945,853 1,673,945,853 594,971,262
30 Regulatory commission expense 4-A 01 6,384,384 6,394,384 6,394,384
31
32 Total book expenses 6,371,380,505 5,891,856,209 1,479,243,227
33
34 Production net income (line 15 less line 32) 3,093,951,461 3,093,951,460 857,190,149
35
36tax adjustment—add (deduct)
37 Amortization of capitalized IDC 779,097,282 779,097,382 192,249,706
38 Estimated IDC capitalized in 1972 8 (1,470,935,857) (1,470,935,857) (362,967,445)
39 Interest expense (calculated) 9 (243,846,540) (243,846,540) (60,587,136)
40
41 Taxable income 2,158,266,445 2,158,266,445 625,891,274
42
43 Federal income tax at 48 percent 1,992,245,949 1,992,245,949 10 577,745,791
[Opinion 749, 41 FR 3092, Jan. 21, 1976]

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