To increase the reliability of modules, and thus of systems assembled from them, they are frequently constructed using parallel load-sharing components. Examples include jet engines, electrical power networks, and telecommunications networks. We consider the situation when the components operate independently, but when any one of them fails, the load of the failed component is instantaneously distributed among the working components. The entire module fails when the last working component fails. We analyze the survival probability and residual life expectancy of such modules. An obvious application is to the case of the 1998 Auckland power supply failure in New Zealand.