Allegheny Power 2013 Annual Report Download - page 30

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15
Summary of Results of Operations — 2013 Compared with 2012
Financial results for FirstEnergy’s business segments in 2013 and 2012 were as follows:
2013 Financial Results
Regulated
Distribution
Regulated
Transmission
Competitive
Energy
Services
Other and
Reconciling
Adjustments
FirstEnergy
Consolidated
(In millions)
Revenues:
External
Electric $ 8,499 $741 $5,542 $(171) $ 14,611
Other 239 — 183 (116)306
Internal — — 770 (770) —
Total Revenues 8,738 741 6,495 (1,057) 14,917
Operating Expenses:
Fuel 377 — 2,119 —2,496
Purchased power 3,308 —1,425 (770)3,963
Other operating expenses 1,773 131 2,007 (318)3,593
Pension and OPEB mark-to-market (149) — (107) — (256)
Provision for depreciation 606 114 439 43 1,202
Amortization of regulatory assets, net 529 10 — — 539
General taxes 697 54 202 25 978
Impairment of long-lived assets 322 — 473 —795
Total Operating Expenses 7,463 309 6,558 (1,020) 13,310
Operating Income (Loss) 1,275 432 (63)(37)1,607
Other Income (Expense):
Gain (loss) on debt redemptions — — (149) 17 (132)
Investment income 57 — 14 (35) 36
Interest expense (543)(93)(222)(158)(1,016)
Capitalized interest 13 4 42 16 75
Total Other Expense (473)(89)(315)(160)(1,037)
Income (Loss) From Continuing Operations
Before Income Taxes 802 343 (378)(197)570
Income taxes (benefits) 301 129 (141)(94)195
Income (Loss) From Continuing Operations 501 214 (237)(103)375
Discontinued Operations, net of tax — — 17 — 17
Net Income (Loss) 501 214 (220)(103)392
Income attributable to noncontrolling interest — — — — —
Earnings (Losses) Available to FirstEnergy Corp. $ 501 $ 214 $(220) $ (103) $ 392