Allegheny Power 2013 Annual Report Download - page 172
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157
Pro Forma Financial Information
The following unaudited pro forma financial information reflects the consolidated results of operations of FirstEnergy as if the merger
with AE had taken place on January 1, 2010. The unaudited pro forma information was calculated after applying FirstEnergy’s
accounting policies and adjusting Allegheny’s results to reflect the depreciation and amortization that would have been charged
assuming fair value adjustments to property, plant and equipment, debt and intangible assets had been applied on January 1, 2010,
together with the consequential tax effects.
FirstEnergy and Allegheny both incurred merger-related costs that have been included in the pro forma earnings presented below.
Combined pre-tax transaction costs incurred were approximately $91 million in the year ended 2011. In addition, during 2011, $93
million of pre-tax merger integration costs and $36 million of pre-tax charges from merger settlements approved by regulatory
agencies were recognized.
The unaudited pro forma financial information has been presented below for illustrative purposes only and is not necessarily indicative
of results of operations that would have been achieved had the merger been completed on January 1, 2010, or the future consolidated
results of operations of the combined company.
(Pro forma amounts in millions, except per share amounts) 2011
Revenues $ 17,449
Earnings available to FirstEnergy $ 979
Basic Earnings Per Share $ 2.34
Diluted Earnings Per Share $ 2.33