Allegheny Power 2011 Annual Report Download - page 40

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25
Changes Between 2010 and 2009
Financial Results
Increase (Decrease)
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 Expense
Income Before Income Taxes
Income taxes
Net Income
Loss attributable to noncontrolling interest
Earnings available to FirstEnergy Corp.
Regulated
Distribution
(In millions)
$ (1,314)
(31)
139
(1,206)
—
(1,287)
63
(84)
7
(294)
16
—
(1,579)
373
—
(39)
(22)
1
(60)
313
95
218
—
$ 218
Competitive
Energy
Services
$ 1,805
(158)
(542)
1,105
279
728
61
(44)
5
—
12
382
1,423
(318)
—
(70)
(58)
33
(95)
(413)
(177)
(236)
—
$ (236)
Regulated
Independent
Transmission
$ —
19
—
19
—
—
5
(4)
—
(3)
(2)
—
(4)
23
—
—
(3)
1
(2)
21
6
15
—
$ 15
Other and
Reconciling
Adjustments
$ —
(12)
460
448
—
453
16
1
(1)
—
(3)
—
466
(18)
—
22
216
(1)
237
219
354
(135)
(8)
$ (127)
FirstEnergy
Consolidated
$ 491
(182)
57
366
279
(106)
145
(131)
11
(297)
23
382
306
60
—
(87)
133
34
80
140
278
(138)
(8)
$ (130)
Regulated Distribution — 2010 Compared with 2009
Net income increased by $218 million in 2010 compared to 2009, primarily due to CEI’s $216 million regulatory asset impairment
in 2009 and lower pensions and OPEB costs, partially offset by increases in other operating expenses. Lower generation revenues
were offset by lower purchased power expenses.