Allegheny Power 2014 Annual Report Download - page 38

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23
Changes Between 2013 and 2012 Financial
Results Increase (Decrease) Regulated
Distribution Regulated
Transmission
Competitive
Energy
Services
Corporate/Other
and Reconciling
Adjustments FirstEnergy
Consolidated
(In millions)
Revenues:
External
Electric $ (350) $ (4) $ (90) $ 53 $ (391)
Other 23 — 40 (33) 30
Internal — — (96) 94 (2)
Total Revenues (327) (4) (146) 114 (363)
Operating Expenses:
Fuel 114 — (89) — 25
Purchased power (493) — 118 92 (283)
Other operating expenses (353) (5) 167 24 (167)
Pension and OPEB mark-to-market (541) (2) (322) — (865)
Provision for depreciation 48 — 30 5 83
Deferral of storm costs — — — — —
Amortization of regulatory assets, net 594 13 — — 607
General taxes (9) 10 (7) — (6)
Impairment of long-lived assets 322 — 473 —795
Total Operating Expenses (318) 16 370 121 189
Operating Income (Loss) (9)(20)(516) (7) (552)
Other Income (Expense):
Gain (Loss) on debt redemptions — — (149) 17 (132)
Investment income (27) (1) (55) 39 (44)
Interest expense (3) (1) 62 (73) (15)
Capitalized interest 6 6 (2) 3 13
Total Other Expense (24) 4 (144) (14) (178)
Income (Loss) From Continuing Operations
Before Income Taxes (Benefits) (33) (16)(660) (21) (730)
Income taxes (benefits) 6 (4) (224) (128) (350)
Income (Loss) From Continuing Operations (39) (12)(436) 107 (380)
Discontinued Operations, net of tax — — 1 —1
Net Income (Loss) (39) (12)(435) 107 (379)
Income attributable to noncontrolling interest — — — (1) (1)
Earnings (Losses) Available to FirstEnergy Corp. $ (39) $ (12) $ (435) $ 108 $ (378)