Allegheny Power 2011 Annual Report Download - page 88
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73
Accumulated Other
Comprehensive Income
Net liability for unfunded
retirement benefits
Unrealized gain on investments
Unrealized gain (loss) on
derivative hedges
Balance, December 31, 2011
Net liability for unfunded
retirement benefits
Unrealized gain on investments
Unrealized gain (loss) on
derivative hedges
Balance, December 31, 2010
FirstEnergy
(In millions)
$ 446
19
(39)
$ 426
$ 472
7
(54)
$ 425
FES
$ 52
16
8
$ 76
$ 55
6
1
$ 62
OE
$ 54
—
—
$ 54
$ 82
—
—
$ 82
CEI
$ 27
—
—
$ 27
$ 34
—
—
$ 34
TE
$ 12
3
—
$ 15
$ 15
—
—
$ 15
JCP&L
$ 40
—
(1)
$ 39
$ 52
—
(1)
$ 51
Met-Ed
$ 28
—
—
$ 28
$ 38
—
(1)
$ 37
Penelec
$ 37
—
—
$ 37
$ 50
—
—
$ 50
OCI reclassified to net income during the three years ended December 31, 2011, 2010 and 2009 is shown in the following table.
2011
Pensions and OPEB
Gain on investments
Loss on derivative hedges
Income taxes related to
reclassification to net income
Reclassification to net income
2010
Pensions and OPEB
Gain on investments
Loss on derivative hedges
Income taxes related to
reclassification to net income
Reclassification to net income
2009
Pensions and OPEB
Gain on investments
Loss on derivative hedges
Income taxes related to
reclassification to net income
Reclassification to net income
FirstEnergy
(In millions)
$ 169
157
(26)
300
118
$ 182
$ 87
54
(35)
106
40
$ 66
$ 68
157
(67)
158
60
$ 98
FES
$ 18
51
(26)
43
16
$ 27
$ 46
50
(24)
72
26
$ 46
$ 37
139
(27)
149
56
$ 93
OE
$ 28
6
—
34
12
$ 22
$ 23
2
—
25
9
$ 16
$ 17
10
—
27
10
$ 17
CEI
$ 12
—
—
12
4
$ 8
$ 2
—
—
2
—
$ 2
$ 2
—
—
2
1
$ 1
TE
$ 5
2
—
7
3
$ 4
$ 3
2
—
5
2
$ 3
$ 4
7
—
11
4
$ 7
JCP&L
$ 25
27
—
52
21
$ 31
$ 5
—
—
5
3
$ 2
$ 8
—
—
8
3
$ 5
Met-Ed
$ 17
49
—
66
27
$ 39
$ 8
—
—
8
3
$ 5
$ 7
—
—
7
3
$ 4
Penelec
$ 23
23
—
46
19
$ 27
$ 15
—
—
15
6
$ 9
$ 12
—
—
12
5
$ 7
NEW ACCOUNTING PRONOUNCEMENTS
During the year, there have been various new accounting pronouncements that are not expected to have a material effect on
FirstEnergy's financial statements.
CHANGE IN PENSIONS AND OPEB ACCOUNTING POLICY
Effective in 2011, FirstEnergy elected to change its method of recognizing actuarial gains and losses for its defined benefit pension
and OPEB plans. Previously, FirstEnergy recognized the net actuarial gains and losses as a component of AOCI and amortized
the gains and losses into income over the remaining service life of affected employees within the related plans to the extent such