18 CFR Appendix C
Nationwide Proceeding Computation of Federal Income Tax Allowance Independent Producers, Pipeline Affiliates and Pipeline Producers Continental U.S.—1972 Data (Docket No. R-478)
April 15, 2021
Open Table
| Line No. | Particulars | Schedule No. | Line No. | (1)—Total1 | (2)—Total excluding production taxes2 | (3)—Gas only3 | (4)—Lease separation3 | (5)—No lease separation3 | (6)—Total4 | (7)—Percentage lease separation gas5 | (8)—Allocated amount gas6 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |||||||||||
| 36 tax 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 | 10577,745,791 | |||||||
1Lines 1 thru 15, col. (1). From Notice issued Sept. 12, 1974, app. A, p. 12, col. (d).
2Production taxes have been deleted from col. (1).
3From notice issued Sept. 12, 1974, app. A, p. 12, cols. (g), (h), and (i).
4Col. (3) plus col. (4) plus col. (5).
5Calculated on a modified British thermal unit basis (1.5 to 1).
6Col. (7) times col. (4), plus cols. (3) and (5).
7See composites mailed to all parties on Feb. 13, 1974.
8Calculated, 188.8 percent (A R64-1-2) times $779,097,382 equals $1,470,935,857.
9Calculated 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.
[Opinion 749, 41 FR 3092, Jan. 21, 1976]
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