Allegheny Power 2015 Annual Report Download - page 41

Download and view the complete annual report

Please find page 41 of the 2015 Allegheny Power annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 163

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163

24
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
Other221
—
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power3,308
—
1,425
(770) 3,963
Otheroperatingexpenses 1,773
131
2,007
(318)
3,593
PensionandOPEBmarktomarket (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longlivedassets322
—
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
—
14
(38)
33
Interestexpense (543)
(93)
(222)
(158)
(1,016)
Capitalizedinterest 31
14
42
16
103
TotalOtherExpense (455)
(79)
(315)
(163)
(1,012)
Income(Loss)FromContinuingOperations
BeforeIncomeTaxes(Benefits)802
343
(375) (200) 570
Incometaxes(benefits) 301
129
(140)
(95)
195
IncomeFromContinuingOperations 501
214
(235)
(105)
375
DiscontinuedOperations,netoftax —
—
17
—
17
NetIncome(Loss)
$ 501
$ 214
$ (218)
$ (105)
$ 392
25
ChangesBetween2014and2013FinancialResults
Increase(Decrease)
Regulated
Distribution
Regulated
Transmission
Competitive
Energy
Services
Corporate/Other
andReconciling
Adjustments
FirstEnergy
Consolidated
(Inmillions)
Revenues:
External
Electric
$
399
$
38
$
(261
)
$
(32
)
$
144
Other
(17
)
—
3
27
13
Internal
—
—
49
(49
)
—
TotalRevenues
382
38
(209
)
(54
)
157
OperatingExpenses:
Fuel
190
—
(406
)
—
(216
)
Purchasedpower
77
—
725
(49
)
753
Otheroperatingexpenses
308
8
68
(15
)
369
PensionandOPEBmarktomarket
655
2
434
—
1,091
Provisionfordepreciation
52
13
(52
)
5
18
Amortizationofregulatoryassets,net
(528
)
1
—
—
(527
)
Generaltaxes
(4
)
16
(31
)
3
(16
)
Impairmentoflonglivedassets
(322
)
—
(473
)
—
(795
)
TotalOperatingExpenses
428
40
265
(56
)
677
OperatingIncome(Loss)
(46
)
(2
)
(474
)
2
(520
)
OtherIncome(Expense):
Lossondebtredemptions
—
—
141
(17
)
124
Investmentincome
(1
)
—
40
—
39
Interestexpense
(46
)
(38
)
33
(6
)
(57
)
Capitalizedinterest
(17
)
41
(5
)
(4
)
15
Tota lOtherExpense
(64
)
3
209
(27
)
121
Income(Loss)FromContinuingOperationsBefore
IncomeTaxes(Benefits)
(110
)
1
(265
)
(25
)
(399
)
Incometaxes(benefits)
(74
)
(8
)
(83
)
(72
)
(237
)
Income(Loss)FromContinuingOperations
(36
)
9
(182
)
47
(162
)
DiscontinuedOperations,netoftax
—
—
69
—
69
NetIncome(Loss)
$
(36
)
$
9
$
(113
)
$
47
$
(93
)
25
ChangesBetween2014and2013FinancialResults
Increase(Decrease)
Regulated
Distribution
Regulated
Transmission
Competitive
Energy
Services
Corporate/Other
andReconciling
Adjustments
FirstEnergy
Consolidated
(Inmillions)
Revenues:
External
Electric $ 399 $ 38 $ (261) $ (32) $ 144
Other (17) — 3 2713
Internal — —49(49) —
TotalRevenues38238(209) (54) 157
OperatingExpenses:
Fuel190 — (406) — (216)
Purchasedpower77 — 725(49) 753
Otheroperatingexpenses308 8 68(15) 369
PensionandOPEBmarktomarket655 2 434 —1,091
Provisionfordepreciation5213(52) 5 18
Amortizationofregulatoryassets,net(528) 1 — — (527)
Generaltaxes(4)16(31) 3 (16)
Impairmentoflonglivedassets(322) — (473) —(795)
TotalOperatingExpenses42840265(56) 677
OperatingIncome(Loss)(46) (2)(474) 2 (520)
OtherIncome(Expense):
Lossondebtredemptions — —141(17) 124
Investmentincome(1) — 40 — 39
Interestexpense(46) (38) 33(6) (57)
Capitalizedinterest(17) 41(5) (4) 15
Tota lOtherExpense(64) 3209(27) 121
Income(Loss)FromContinuingOperationsBefore
IncomeTaxes(Benefits)(110) 1 (265) (25) (399)
Incometaxes(benefits)(74) (8) (83) (72) (237)
Income(Loss)FromContinuingOperations(36) 9 (182) 47(162)
DiscontinuedOperations,netoftax — —69
—
69
NetIncome(Loss) $ (36) $ 9 $ (113) $ 47 $ (93)