Allegheny Power 2014 Annual Report Download - page 99

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84
PROVISION FOR INCOME TAXES (BENEFITS)(1) 2014 2013 2012
(In millions)
FirstEnergy
Currently payable (receivable)-
Federal $ (132) $ (118) $ (130)
State (72) 70 28
(204) (48) (102)
Deferred, net-
Federal 214 305 580
State (42) (54) 78
172 251 658
Investment tax credit amortization (10) (8) (11)
Total provision for income taxes (benefits) $ (42) $ 195 $ 545
FES
Currently payable (receivable)-
Federal $ (222) $ (300) $ (128)
State (13) (3) 17
(235) (303) (111)
Deferred, net-
Federal 25 317 209
State (14) (4) 9
11 313 218
Investment tax credit amortization (4) (4) (4)
Total provision for income taxes (benefits) $ (228) $ 6 $ 103
(1)Provision for Income Taxes (Benefits) on Income from Continuing Operations. Currently payable (receivable) in 2014
excludes $106 million and $12 million of federal and state taxes, respectively, associated with discontinued operations.
Deferred, net in 2014 excludes $44 million and $5 million of federal and state tax benefits, respectively, associated with
discontinued operations.