Allegheny Power 2010 Annual Report Download - page 32

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17
Changes Between 2010 and 2009 Financial
Results Increase (Decrease)
Energy
Delivery
Services
Competitive
Energy
Services
Other and
Reconciling
Adjustments
FirstEnergy
Consolidated
(In millions)
Revenues:
External
Electric $ (1,314) $ 1,805 $ - $ 491
Other (17) (155) (10) (182)
Internal* 139 (542) 460 57
Total Revenues (1,192) 1,108 450 366
Expenses:
Fuel - 287 (8) 279
Purchased power (1,294) 728 460 (106)
Other operating expenses 68 79 6 153
Provision for depreciation 6 (16) 20 10
A
mortization of regulatory assets (433) - - (433)
Deferral of new regulatory assets 136 - - 136
Impairment of long lived assets - 378 - 378
General taxes 12 5 6 23
Total Expenses (1,505) 1,461 484 440
Operating Income 313 (353) (34) (74)
Other Income (Expense):
Investment income (37) (70) 20 (87)
Interest expense (24) (55) 212 133
Capitalized interest 2 32 1 35
Total Other Expense (59) (93) 233 81
Income Before Income Taxes 254 (446) 199 7
Income taxes 82 (187) 342 237
Net Income 172 (259) (143) (230)
Loss attributable to noncontrolling interest - - (8) (8)
Earnings available to FirstEnergy Corp. $ 172 $ (259) $ (135) $ (222)
* Under the accounting standard for the effects of certain types of regulation, internal revenues are not fully offset for sale of RECs by
FES to the Ohio Companies that are retained in inventory.