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14
2014FinancialResults
Regulated
Distribution
Regulated
Transmission
Competitive
Energy
Services
Corporate/Other
andReconciling
Adjustments
FirstEnergy
Consolidated
(Inmillions)
Revenues:
External
Electric
$
8,898
$
769
$
5,281
$
(193
)
$
14,755
Other
204
—
189
(99
)
294
Internal
—
—
819
(819
)
—
TotalRevenues
9,102
769
6,289
(1,111
)
15,049
OperatingExpenses:
Fuel
567
—
1,713
—
2,280
Purchasedpower
3,385
—
2,150
(819
)
4,716
Otheroperatingexpenses
2,081
139
2,075
(333
)
3,962
PensionandOPEBmarktomarket
506
2
327
—
835
Provisionfordepreciation
658
127
387
48
1,220
Amortizationofregulatoryassets,net
1
11
—
—
12
Generaltaxes
693
70
171
28
962
Impairmentoflonglivedassets
—
—
—
—
—
TotalOperatingExpenses
7,891
349
6,823
(1,076
)
13,987
OperatingIncome(Loss)
1,211
420
(534
)
(35
)
1,062
OtherIncome(Expense):
Lossondebtredemptions
—
—
(8
)
—
(8
)
Investmentincome
56
—
54
(38
)
72
Impairmentofequitymethodinvestment
—
—
—
—
—
Interestexpense
(589
)
(131
)
(189
)
(164
)
(1,073
)
Capitalizedfinancingcosts
14
55
37
12
118
TotalOtherExpense
(519
)
(76
)
(106
)
(190
)
(891
)
Income(Loss)FromContinuingOperations
BeforeIncomeTaxes(Benefits)
692
344
(640
)
(225
)
171
Incometaxes(benefits)
227
121
(223
)
(167
)
(42
)
Income(Loss)FromContinuingOperations
465
223
(417
)
(58
)
213
DiscontinuedOperations,netoftax
—
—
86
—
86
NetIncome(Loss)
$
465
$
223
$
(331
)
$
(58
)
$
299
15
ChangesBetween2015and2014Financial
ResultsIncrease(Decrease)
Regulated
Distribution
Regulated
Transmission
Competitive
Energy
Services
Corporate/Other
and
Reconciling
Adjustments
FirstEnergy
Consolidated
(Inmillions)
Revenues:
External
Electric $ 531 $ 242 $ (788) $ 20 $ 5
Other(8) — 16(36) (28)
Internal — — (133) 133 —
TotalRevenues523242(905) 117(23)
OperatingExpenses:
Fuel(34) — (391) — (425)
Purchasedpower163 — (694) 133(398)
Otheroperatingexpenses16115(405) 16(213)
PensionandOPEBmarktomarket(327) 1 (267) — (593)
Provisionfordepreciation1429 7 1262
Amortizationofregulatoryassets,net260(4) — — 256
Generaltaxes1032(31) 5 16
Impairmentoflonglivedassets 8 — 34 — 42
TotalOperatingExpenses25573(1,747) 166(1,253)
OperatingIncome(Loss)268169842(49) 1,230
OtherIncome(Expense):
Lossondebtredemptions — — 8 — 8
Investmentincome(14) —(70) (10) (94)
Impairmentofequitymethodinvestment — — — (362) (362)
Interestexpense 3 (30) (3) (29) (59)
Capitalizedfinancingcosts11(11) 2 (3) (1)
TotalOtherExpense — (41) (63) (404) (508)
Income(Loss)FromContinuingOperationsBefore
IncomeTaxes(Benefits)268128779(453) 722
Incometaxes(benefits)11553273(84) 357
Income(Loss)FromContinuingOperations15375506(369) 365
DiscontinuedOperations,netoftax—— (86) —(86)
NetIncome(Loss) $ 153 $ 75 $ 420 $ (369) $ 279