Allegheny Power 2010 Annual Report Download - page 74

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59
FIRSTENERGY CORP.
CONSOLIDATED BALANCE SHEETS
As of December 31,
(Dollars in millions) 2010 2009
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 1,019 $ 874
Receivables-
Customers, net of allowance for uncollectible accounts of $36 in 2010 and $33
in 2009 1,392 1,244
Other, net of allowance for uncollectible accounts of $8 in 2010 and $7 in 2009 176 153
Materials and supplies, at average cost 638 647
Prepaid taxes 199 248
Other 274 154
3,698 3,320
PROPERTY, PLANT AND EQUIPMENT:
In service 29,451 27,826
Less - Accumulated provision for depreciation 11,180 11,397
18,271 16,429
Construction work in progress 1,517 2,735
19,788 19,164
INVESTMENTS:
Nuclear plant decommissioning trusts 1,973 1,859
Investments in lease obligation bonds 476 543
Other 553 621
3,002 3,023
DEFERRED CHARGES AND OTHER ASSETS:
Goodwill 5,575 5,575
Regulatory assets 1,826 2,356
Power purchase contract asset 122 200
Other 794 666
8,317 8,797
$ 34,805 $ 34,304
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Currently payable long-term debt $ 1,486 $ 1,834
Short-term borrowings 700 1,081
Accounts payable 872 829
Accrued taxes 326 314
Accrued compensation and benefits 315 293
Derivatives 266 126
Other 733 711
4,698 5,188
CAPITALIZATION:
Common stockholders’ equity-
Common stock, $0.10 par value, authorized 375,000,000 shares-
304,835,407 shares outstanding 31 31
Other paid-in capital 5,444 5,448
Accumulated other comprehensive loss (1,539) (1,415)
Retained earnings 4,609 4,495
Total common stockholders' equity 8,545 8,559
Noncontrolling interest (32) (2)
Total equity 8,513 8,557
Long-term debt and other long-term obligations 12,579 12,008
21,092 20,565
NONCURRENT LIABILITIES:
Accumulated deferred income taxes 2,879 2,468
Retirement benefits 1,868 1,534
Asset retirement obligations 1,407 1,425
Deferred gain on sale and leaseback transaction 959 993
Power purchase contract liability 466 643
Lease market valuation liability 217 262
Other 1,219 1,226
9,015 8,551
COMMITMENTS, GUARANTEES AND CONTINGENCIES (Notes 7 and 14)
$ 34,805 $ 34,304
The accompanying Combined Notes to the Consolidated Financial Statements are an integral part of these financial statements.