Allegheny Power 2013 Annual Report Download - page 41

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26
Changes Between 2012 and 2011 Financial Results
Increase (Decrease)
Regulated
Distribution
Regulated
Transmission
Competitive
Energy
Services
Other and
Reconciling
Adjustments
FirstEnergy
Consolidated
(In millions)
Revenues:
External
Electric $ (840) $ 80 $ 16 $ (190) $ (934)
Other (13) — (21) 201 167
Internal — — (371) 306 (65)
Total Revenues (853) 80 (376) 317 (832)
Operating Expenses:
Fuel (5) — 159 —154
Purchased power (866) — (72) 310 (628)
Other operating expenses 284 23 (401) (95) (189)
Pension and OPEB mark-to-market 102 — — — 102
Provision for depreciation 35 10 (2) 14 57
Deferral of storm costs (225) (5) — — (230)
Amortization of regulatory assets, net (163) (4) — — (167)
General taxes (11) 4 10 4 7
Impairment of long-lived assets (87) — (315) (11) (413)
Total Operating Expenses (936) 28 (621) 222 (1,307)
Operating Income 83 52 245 95 475
Other Income (Expense):
Gain on partial sale of Signal Peak — — (569) — (569)
Investment income (15) 1 10 (33) (37)
Interest expense (10) (3) 14 6 7
Capitalized interest 2 1 4 (5) 2
Total Other Expense (23) (1) (541) (32) (597)
Income From Continuing Operations Before Income
Taxes 60 51 (296) 63 (122)
Income taxes 8 19 (131) 83 (21)
Income From Continuing Operations 52 32 (165) (20) (101)
Discontinued Operations, net of tax — — 3 —3
Net Income 52 32 (162) (20) (98)
Income attributable to noncontrolling interest — — — 17 17
Earnings Available to FirstEnergy Corp. $ 52 $ 32 $ (162) $ (37) $ (115)