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144
20.SUMMARYOFQUARTERLYFINANCIALDATA(UNAUDITED)
Thefollowingsummarizescertainconsolidatedoperatingresultsbyquarterfor2015and2014.
FirstEnergy
CONSOLIDATEDSTATEMENTSOFINCOME
(Inmillions,exceptpershareamounts)2015
2014
Dec.31
Sept.30
June30
Mar.31
Dec.31
Sept.30
June30
Mar.31
Revenues
$
3,541
$
4,123
$
3,465
$
3,897
$
3,483
$
3,888
$
3,496
$
4,182
Otheroperatingexpense
952
850
916
1,057
901
858
1,021
1,182
PensionandOPEBmarktomarketadjustment
242
—
—
—
835
—
—
—
Provisionfordepreciation
313
328
322
319
316
308
302
294
OperatingIncome(Loss)
236
908
554
594
(337
)
716
292
391
Income(loss)fromcontinuingoperations
beforeincometaxes(benefits)
(396
)
621
302
366
(574
)
485
90
170
Incometaxes(benefits)
(1)
(170
)
226
115
144
(268
)
152
26
48
Income(loss)fromcontinuingoperations
(226
)
395
187
222
(306
)
333
64
122
Discontinuedoperations(netofincometaxes)
—
—
—
—
—
—
—
86
NetIncome(Loss)
(226
)
395
187
222
(306
)
333
64
208
Earnings(loss)pershareofcommonstock(2)
BasicContinuingOperations
(0.53
)
0.94
0.44
0.53
(0.73
)
0.79
0.16
0.29
BasicDiscontinuedOperations(Note19)
—
—
—
—
—
—
—
0.21
BasicEarningsAvailabletoFirstEnergy
Corp.
(0.53
)
0.94
0.44
0.53
(0.73
)
0.79
0.16
0.50
DilutedContinuingOperations
(0.53
)
0.93
0.44
0.53
(0.73
)
0.79
0.15
0.29
DilutedDiscontinuedOperations(Note19)
—
—
—
—
—
—
—
0.20
DilutedEarningsAvailabletoFirstEnergy
Corp.
(0.53
)
0.93
0.44
0.53
(0.73
)
0.79
0.15
0.49
(1)
Duringthefourthquarterof2014,incometaxbenefitsof$16millionwererecordedthatrelatedtopriorperiods.Theoutofperiod
adjustmentprimarilyrelatedtothecorrectionofamountsincludedintheCompany’staxbasisbalancesheet.Managementdeterminedthat
thisadjustmentwasnotmaterialto2014oranypriorperiod.
(2)
Totalquarterlyearningspershareinformationmaynotequalannualearningspershareduetotheissuanceofsharesthroughouttheyear.
SeeFirstEnergy'sConsolidatedStatementsofStockholders'EquityandNote4.StockBasedCompensationforadditionalinformation.
FES
CONSOLIDATEDSTATEMENTSOFINCOME
(Inmillions)
2015
2014
Dec.31
Sept.30
June30
Mar.31
Dec.31
Sept.30
June30
Mar.31
Revenues
$
1,171
$
1,338
$
1,119
$
1,377
$
1,342
$
1,521
$
1,452
$
1,829
Otheroperatingexpense
329
246
353
413
359
356
468
452
PensionandOPEBmarktomarketadjustment
57
—
—
—
297
—
—
—
Provisionfordepreciation
84
79
81
80
83
83
79
74
OperatingIncome(Loss)
25
240
—
12
(321
)
90
(151
)
(148
)
Income(loss)fromcontinuingoperations
beforeincometaxes(benefits)
(13
)
190
(25
)
(5
)
(347
)
72
(154
)
(159
)
Incometaxes(benefits)
1
70
(4
)
(2
)
(133
)
28
(67
)
(56
)
Income(loss)fromcontinuingoperations
(14
)
120
(21
)
(3
)
(214
)
44
(87
)
(103
)
Discontinuedoperations(netofincometaxes)
—
—
—
—
—
—
—
116
NetIncome(Loss)
(14
)
120
(21
)
(3
)
(214
)
44
(87
)
13
145
ExecutiveOfficersasofFebruary16,2016
NameAgePositionsHeldDuringPastFiveYearsDates
G.D.Benz56SeniorVicePresident,Strategy(B)2015present
VicePresident,SupplyChain(B)20122015
L.M.Cavalier64ChiefHumanResourcesOfficer(B)2015present
SeniorVicePresident,HumanResources(B) *2015
D.M.Chack65SeniorVicePresident,MarketingandBranding(B)2015present
President,OhioOperations(B)20112015
VicePresident(C)20112015
RegionalPresident(M) *2011
M.J.Dowling51SeniorVicePresident,ExternalAffairs(B)2011present
VicePresident,ExternalAffairs(B) *2011
B.L.Gaines62SeniorVicePresident,CorporateServicesandChiefInformationOfficer(B)2012present
VicePresident,CorporateServicesandChiefInformationOfficer(B)20112012
VicePresident,SharedServices,AdministrationandChiefInformationOfficer(B) *2011
C.E.Jones60PresidentandChiefExecutiveOfficer(A)(B)2015present
ChiefExecutiveOfficer(F)2015present
ExecutiveVicePresident&President,FirstEnergyUtilities(A)(B)2014
SeniorVicePresident&President,FirstEnergyUtilities(B) *2013
President(H)(I)20112015
President(C)(D)(L) *2015
SeniorVicePresident&President,FirstEnergyUtilities(A) *2011
J.H.Lash65ExecutiveVicePresident&President,FEGeneration(A)(B)2015present
President,FEGeneration(B)20112015
President(G)(J)2011present
ChiefNuclearOfficer(F)20112012
PresidentandChiefNuclearOfficer(F) *2011
President,FirstEnergyNuclearOperatingCompany(B) *2011
C.D.Lasky53SeniorVicePresident,HumanResources(B)2015present
VicePresident,FossilOperations(J)20142015
VicePresident,FossilOperations&Engineering(J)2014
VicePresident(G)20112015
VicePresident,FossilFleetOperations(J)20112013
VicePresident(J) *2011
VicePresident,FossilOperations(E) *2011
J.F.Pearson61ExecutiveVicePresidentandChiefFinancialOfficer(A)(B)(C)(D)(E)(F)(G)(H)(I)(J)(L)2015present
SeniorVicePresidentandChiefFinancialOfficer(A)(B)(C)(D)(E)(F)(G)(H)(I)(J)(L)20132015
SeniorVicePresidentandTreasurer(A)(B)(C)(D)(E)(F)(G)(H)(I)(J)(L)2012
VicePresidentandTreasurer(A)(B)(C)(D)(E)(F)(J)(L) *2012
VicePresidentandTreasurer(G)(H)(I)20112012
D.R.Schneider54President(E) *present
S.E.Strah52SeniorVicePresident&President,FirstEnergyUtilities(B)2015present
President(C)(D)(H)(I)(L)2015present
VicePresident,DistributionSupport(B)20112015
RegionalPresident(K) *2011
K.J.Taylor42VicePresident,ControllerandChiefAccountingOfficer(A)(B)2013present
VicePresidentandController(C)(D)(E)(F)(G)(H)(I)(J)(L)2013present
VicePresidentandAssistantController(A)(B)(C)(D)(E)(F)(G)(H)(I)(J)(L)20122013
AssistantController(A)(B)(C)(D)(L) *2012
AssistantController(H)(I)20112012
AssistantController(E)(F)(G)(J)2012
L.L.Vespoli56ExecutiveVicePresident,Markets&ChiefLegalOfficer(A)(B)(C)(D)(E)(F)(G)(H)(I)(J)(L)2014present
ExecutiveVicePresidentandGeneralCounsel(A)(B)(C)(D)(E)(F)(J)(L) *2013
ExecutiveVicePresidentandGeneralCounsel(G)(H)(I)20112013
*IndicatespositionheldatleastsinceJanuary1,2011(E)DenotesexecutiveofficerofFES(J)DenotesexecutiveofficerofFG
(A)DenotesexecutiveofficerofFE(F)DenotesexecutiveofficerofFENOC(K)DenotesexecutiveofficerofOE
(B)DenotesexecutiveofficerofFESC(G)DenotesexecutiveofficerofAGC(L)DenotesexecutiveofficerofATSI
(C)DenotesexecutiveofficerofOE,CEIandTE(H)DenotesexecutiveofficerofMP,PEandWP(M)DenotesexecutiveofficerofCEI
(D)DenotesexecutiveofficerofME,PNandPenn(I)DenotesexecutiveofficerofTrAILandFET