Allegheny Power 2014 Annual Report Download - page 27

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12
Changes Between 2014 and 2013 Financial
Results
Increase (Decrease) Regulated
Distribution Regulated
Transmission
Competitive
Energy
Services
Corporate/Other
and Reconciling
Adjustments FirstEnergy
Consolidated
(In millions)
Revenues:
External
Electric $ 399 $ 38 $ (261) $ (32) $ 144
Other (17) — 3 27 13
Internal — — 49 (49) —
Total Revenues 382 38 (209)(54)157
Operating Expenses:
Fuel 190 — (406)— (216)
Purchased power 77 — 725 (49)753
Other operating expenses 308 8 68 (15)369
Pension and OPEB mark-to-market 655 2 434 — 1,091
Provision for depreciation 52 13 (52)518
Amortization of regulatory assets, net (528) 1 — — (527)
General taxes (4) 16 (31)3 (16)
Impairment of long-lived assets (322) — (473)— (795)
Total Operating Expenses 428 40 265 (56)677
Operating Income (Loss) (46) (2) (474)2 (520)
Other Income (Expense):
Loss on debt redemptions — — 141 (17)124
Investment income (1) — 34 639
Interest expense (46) (38) 33 (6) (57)
Capitalized financing costs (17) 41 (5) (4) 15
Total Other Expense (64) 3 203 (21)121
Income (Loss) From Continuing Operations
Before Income Taxes (Benefits) (110) 1 (271)(19)(399)
Income taxes (benefits) (74) (8) (85)(70)(237)
Income (Loss) From Continuing Operations (36) 9 (186) 51 (162)
Discontinued Operations, net of tax —— 69 —69
Net Income (Loss) $ (36) $ 9 $ (117) $ 51 $ (93)