Allegheny Power 2014 Annual Report Download - page 105
Download and view the complete annual report
Please find page 105 of the 2014 Allegheny Power annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
 |
 |
90
FirstEnergy's future minimum consolidated operating lease payments as of December 31, 2014, are as follows:
FirstEnergy
Operating Leases Lease Payments PNBV Net
(In millions)
2015 $ 245 $ 40 $ 205
2016 197 13 184
2017 122 3 119
2018 128 — 128
2019 109 — 109
Years thereafter 1,482 — 1,482
Total minimum lease payments $ 2,283 $ 56 $ 2,227
FES' future minimum operating lease payments as of December 31, 2014, are as follows:
Operating Leases Lease Payments
(In millions)
2015 $ 142
2016 131
2017 81
2018 101
2019 97
Years thereafter 1,383
Total minimum lease payments $ 1,935
7. INTANGIBLE ASSETS
As of December 31, 2014, intangible assets classified in Other Deferred Charges on FirstEnergy’s Consolidated Balance Sheet,
include the following:
Intangible Assets Amortization Expense
Actual Estimated
(In millions) Gross Accumulated
Amortization Net 2014 2015 2016 2017 2018 2019 Thereafter
NUG contracts(1) $ 124 $ 20 $ 104 $ 5 $ 5 $ 5 $ 5 $ 5 $ 5 $ 79
OVEC 54 7 47 2 2 2 2 2 2 37
Coal contracts(2)(3) 556 289 267 55 51 51 45 30 30 19
FES customer contracts 148 70 78 18 17 17 16 14 13 1
$ 882 $ 386 $ 496 $ 80 $ 75 $ 75 $ 68 $ 51 $ 50 $ 136
(1) NUG contracts are subject to regulatory accounting and their amortization does not impact earnings.
(2) A gross amount of $40 million ($29 million, net) of the coal contracts is related to FES. The 2014 and estimated 2015 to 2019 amortization
expense for FES is $5.7 million annually.
(3) A gross amount of $102 million ($41 million, net) of the coal contracts was recorded with a regulatory offset and the amortization does not
impact earnings. Accordingly, the amortization expense for these coal contracts is excluded from table above.
FES acquired certain customer contract rights which were capitalized as intangible assets. These rights allow FES to supply electric
generation to customers, and the recorded value is being amortized ratably over the term of the related contracts.