Allegheny Power 2010 Annual Report Download - page 108
Download and view the complete annual report
Please find page 108 of the 2010 Allegheny Power annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
 |
 |
93
The future minimum capital lease payments as of December 31, 2010 are as follows (OE, TE, JCP&L, Met-Ed and
Penelec have no material capital leases):
Capital leases FE FES CEI
(In millions)
2011 $ 7 $ 6 $ 1
2012 7 6 1
2013 7 6 1
2014 7 6 1
2015 7 5 1
Years thereafter 14 12 2
Total minimum lease payments 49 41 7
Executory costs - - -
Net minimum lease payments 49 41 7
Interest portion (10) (5) (4)
Present value of net minimum
lease payments 39 36 3
Less current portion 5 5 -
Noncurrent portion $ 34 $ 31 $ 3
The present value of minimum lease payments for FirstEnergy does not include $15 million of capital lease obligations
that were prepaid as of December 31, 2010.
Established by OE in 1996, PNBV purchased a portion of the lease obligation bonds issued on behalf of lessors in OE's
Perry Unit 1 and Beaver Valley Unit 2 sale and leaseback transactions. Similarly, CEI and TE established Shippingport in
1997 to purchase the lease obligation bonds issued on behalf of lessors in their Bruce Mansfield Units 1, 2 and 3 sale
and leaseback transactions. The PNBV and Shippingport arrangements effectively reduce lease costs related to those
transactions (see Note 8).
The future minimum consolidated operating lease payments as of December 31, 2010 are as follows:
Lease Capital
Operating Leases Payments Trust Net
(In millions)
2011 $ 329 $ 116 $ 213
2012 365 125 240
2013 367 130 237
2014 363 131 232
2015 365 91 274
Years thereafter 2,150 32 2,118
Total minimum lease payments $ 3,939 $ 625 $ 3,314
Operating Leases FES OE CEI TE JCP&L Met-Ed Penelec
(In millions)
2011 $ 192 $ 146 $ 4 $ 64 $ 6 $ 4 $ 3
2012 230 147 3 64 5 4 3
2013 236 147 3 64 5 4 3
2014 234 146 3 64 5 4 2
2015 238 146 3 64 4 4 2
Years thereafter 1,895 166 6 79 48 40 23
Total minimum lease
payments $ 3,025 $ 898 $ 22 $ 399 $ 73 $ 60 $ 36