Allegheny Power 2011 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2011 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.

Page out of 180

  • 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
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180

13
Summary of Results of Operations — 2011 Compared with 2010
Financial results for FirstEnergy’s major business segments in 2011 and 2010 were as follows:
2011 Financial Results
Revenues:
External
Electric
Other
Internal
Total Revenues
Operating Expenses:
Fuel
Purchased power
Other operating expenses
Pensions and OPEB mark-to-market
adjustment
Provision for depreciation
Amortization of regulatory assets, net
General taxes
Impairment of long-lived assets
Total Operating Expenses
Operating Income
Other Income (Expense):
Gain on partial sale of Signal Peak
Investment income
Interest expense
Capitalized interest
Total Other Income (Expense)
Income Before Income Taxes
Income taxes
Net Income
Loss attributable to noncontrolling
interest
Earnings available to FirstEnergy Corp.
Regulated
Distribution
(In millions)
$ 9,544
460
—
10,004
268
4,672
1,662
290
620
323
724
87
8,646
1,358
—
110
(573)
10
(453)
905
335
570
—
$ 570
Competitive
Energy
Services
$ 5,573
363
1,237
7,173
2,049
1,491
2,256
215
415
—
200
315
6,941
232
569
56
(298)
40
367
599
222
377
—
$ 377
Regulated
Independent
Transmission
$ —
391
—
391
—
—
68
2
60
6
33
—
169
222
—
—
(46)
2
(44)
178
66
112
—
$ 112
Other and
Reconciling
Adjustments
$ —
(140)
(1,170)
(1,310)
—
(1,177)
(77)
—
26
—
21
11
(1,196)
(114)
—
(52)
(91)
18
(125)
(239)
(49)
(190)
(16)
$ (174)
FirstEnergy
Consolidated
$ 15,117
1,074
67
16,258
2,317
4,986
3,909
507
1,121
329
978
413
14,560
1,698
569
114
(1,008)
70
(255)
1,443
574
869
(16)
$ 885