Allegheny Power 2013 Annual Report Download - page 2

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141.6
FES CUSTOMERS SERVED
(in millions)
2013
2012
2011
2.6
1.8
2.7
COMPETITIVE RETAIL SALES
(in millions of megawatt-hours)
2013
2012
2011
99.7
90.1
108.6
DISTRIBUTION ELECTRIC SALES
(in millions of megawatt-hours)
2013
2012
2011
146.6
147.9
FINANCIAL HIGHLIGHTS
KEY ACCOMPLISHMENTS
• Reduced debt by approximately $1.5 billion at
FirstEnergy Solutions (FES) and Allegheny
Energy Supply
• Generated $2.7 billion in cash from operations
• Reduced planned capital spending on generation
over the next several years by more than $1 billion
• Achieved a 9 percent increase in retail sales volume
at FES
• Announced Energizing the Future – a $4.2 billion
investment through 2017 to expand and strengthen
our transmission system
FINANCIALS AT A GLANCE
(dollars in millions, except per share amounts)
2013 2012 2011
TOTAL REVENUES $14,917 $15,273 $16,105
NET INCOME $392 $771 $869
BASIC EARNINGS per common share $0.94 $1.85 $2.22
DILUTED EARNINGS per common share $0.94 $1.84 $2.21
DIVIDENDS PAID per common share* $2.20 $2.20 $2.20
BOOK VALUE per common share $30.32 $31.29 $31.75
NET CASH FROM OPERATING ACTIVITIES $2,662 $2,320 $3,063
0 2 2.5 30.5 1 1.5
0 60 80 11010 30 4020 50 70 90
0 60 8010 30 4020 50 70 90 100
On the cover: A monopole is constructed to replace a steel tower in East Hanover, N.J., as part of a
$200 million, multiyear program to enhance Jersey Central Power & Light’s transmission system.
*In January 2014, the Board of Directors announced a quarterly dividend of $0.36 per share (equivalent to $1.44 on an annual basis)
100
110 120 130 140 150
(Note: 2011 distribution sales reflect 10 months of Allegheny Energy sales)