Allegheny Power 2014 Annual Report Download - page 36

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21
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
Corporate/Other
and Reconciling
Adjustments FirstEnergy
Consolidated
(In millions)
Revenues:
External
Electric $ 8,499 $731 $5,542 $(161) $ 14,611
Other 221 — 186 (126)281
Internal — — 770 (770) —
Total Revenues 8,720 731 6,498 (1,057)14,892
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) 1,257 422 (60)(37)1,582
Other Income (Expense):
Gain (Loss) on debt redemptions — — (149) 17 (132)
Investment income 57 — 11 (35) 33
Interest expense (543)(93)(222)(158)(1,016)
Capitalized interest 31 14 42 16 103
Total Other Expense (455)(79)(318)(160)(1,012)
Income (Loss) From Continuing Operations
Before Income Taxes (Benefits) 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