Allegheny Power 2013 Annual Report Download - page 160
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145
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Unaudited)
For the Year Ended December 31, 2012 FES FG NG Eliminations Consolidated
(In millions)
STATEMENTS OF INCOME
REVENUES $5,804 $2,100 $1,895 $(3,905) $ 5,894
OPERATING EXPENSES:
Fuel — 1,077 210 —1,287
Purchased power from affiliates 4,098 —258 (3,905)451
Purchased power from non-affiliates 1,881 6 — — 1,887
Other operating expenses 434 334 539 49 1,356
Pensions and OPEB mark-to-market adjustments (2) 52 116 —166
Provision for depreciation 4 116 157 (5) 272
General taxes 79 36 21 — 136
Total operating expenses 6,494 1,621 1,301 (3,861)5,555
OPERATING INCOME (LOSS) (690)479 594 (44)339
OTHER INCOME (EXPENSE):
Investment income 2 15 67 (18) 66
Miscellaneous income, including net income from equity
investees 1,284 20 — (1,269) 35
Interest expense — affiliates (18) (7) (4) 19 (10)
Interest expense — other (93)(110)(50) 62 (191)
Capitalized interest — 4 33 — 37
Total other income (expense) 1,175 (78) 46 (1,206)(63)
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES 485 401 640 (1,250)276
INCOME TAXES (BENEFITS) 298 (269) 62 12 103
INCOME FROM CONTINUING OPERATIONS 187 670 578 (1,262)173
Discontinued operations (net of income taxes of $8) — 14 — — 14
NET INCOME $187 $684 $578 $(1,262) $ 187
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME $187 $684 $578 $(1,262) $ 187
OTHER COMPREHENSIVE INCOME (LOSS):
Pensions and OPEB prior service costs 6 6 — (6) 6
Amortized gain on derivative hedges (9) — — — (9)
Change in unrealized gain on available-for-sale securities (5) — (5) 5(5)
Other comprehensive income (loss) (8) 6 (5) (1) (8)
Income taxes (benefits) on other comprehensive income
(loss) (4) 1 (2) 1(4)
Other comprehensive income (loss), net of tax (4) 5 (3) (2) (4)
COMPREHENSIVE INCOME $183 $689 $575 $(1,264) $ 183