Allegheny Power 2013 Annual Report Download - page 159

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144
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)
(Unaudited)
For the Year Ended December 31, 2013 FES FG NG Eliminations Consolidated
(In millions)
STATEMENTS OF INCOME
REVENUES $6,068 $2,399 $1,634 $(3,928) $ 6,173
OPERATING EXPENSES:
Fuel — 1,056 206 —1,262
Purchased power from affiliates 4,148 —266 (3,928)486
Purchased power from non-affiliates 2,326 7 — — 2,333
Other operating expenses 635 275 529 48 1,487
Pensions and OPEB mark-to-market adjustments (8) (37)(36) — (81)
Provision for depreciation 6 127 178 (5) 306
General taxes 80 34 24 — 138
Total operating expenses 7,187 1,462 1,167 (3,885)5,931
OPERATING INCOME (LOSS) (1,119)937 467 (43)242
OTHER INCOME (EXPENSE):
Loss on debt redemptions (103) — — — (103)
Investment income 5 1 25 (15) 16
Miscellaneous income, including net income from equity
investees 846 24 — (842) 28
Interest expense — affiliates (13) (5) (6) 14 (10)
Interest expense — other (63)(104)(54) 61 (160)
Capitalized interest 1 2 36 — 39
Total other income (expense) 673 (82) 1 (782)(190)
INCOME (LOSS) FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES (446)855 468 (825) 52
INCOME TAXES (BENEFITS) (506)365 135 12 6
INCOME FROM CONTINUING OPERATIONS 60 490 333 (837) 46
Discontinued operations (net of income taxes of $8) — 14 — — 14
NET INCOME $ 60 $ 504 $333 $(837) $ 60
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME $ 60 $ 504 $333 $(837) $ 60
OTHER COMPREHENSIVE LOSS:
Pensions and OPEB prior service costs (15)(13) — 13 (15)
Amortized gain on derivative hedges (6) — — — (6)
Change in unrealized gain on available-for-sale securities (8) — (8) 8(8)
Other comprehensive loss (29)(13) (8) 21 (29)
Income tax benefits on other comprehensive loss (11) (5) (3) 8 (11)
Other comprehensive loss, net of tax (18) (8) (5) 13 (18)
COMPREHENSIVE INCOME $ 42 $ 496 $328 $(824) $ 42