Allegheny Power 2015 Annual Report Download - page 93

Download and view the complete annual report

Please find page 93 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

76
2.ACCUMULATEDOTHERCOMPREHENSIVEINCOME
ThechangesinAOCIfortheyearsendedDecember31,2015,2014and2013forFirstEnergyareshowninthefollowingtable:
FirstEnergy
Gains&
Losseson
CashFlow
Hedges
Unrealized
Gainson
AFS
Securities
Defined
Benefit
Pension&
OPEBPlansTotal
(Inmillions)
AOCIBalance,January1,2013 $ (38) $ 15
$ 408
$ 385
Othercomprehensiveincomebeforereclassifications —
46
35
81
AmountsreclassifiedfromAOCI 3
(56) (195) (248)
Othercomprehensiveincome(loss) 3
(10) (160) (167)
Incometax(benefits)onothercomprehensiveincome(loss) 1
(4) (63) (66)
Othercomprehensiveincome(loss),netoftax 2
(6) (97) (101)
AOCIBalance,December31,2013 $ (36) $ 9
$ 311
$ 284
Othercomprehensiveincomebeforereclassifications —
89
92
181
AmountsreclassifiedfromAOCI(2) (63)(168) (233)
Othercomprehensiveincome(loss) (2)
26
(76)
(52)
Incometax(benefits)onothercomprehensiveincome(loss)(1) 10
(23) (14)
Othercomprehensiveincome(loss),netoftax (1)
16
(53)
(38)
AOCIBalance,December31,2014 $ (37) $ 25
$ 258
$ 246
Othercomprehensiveincomebeforereclassifications —
14
10
24
AmountsreclassifiedfromAOCI 5
(25) (126) (146)
Othercomprehensiveincome(loss) 5
(11)
(116)
(122)
Incometax(benefits)onothercomprehensiveincome(loss) 1
(4) (44) (47)
Othercomprehensiveincome(loss),netoftax 4
(7)
(72)
(75)
AOCIBalance,December31,2015 $ (33) $ 18
$ 186
$ 171
77
ThefollowingamountswerereclassifiedfromAOCIforFirstEnergyintheyearsendedDecember31,2015,2014and2013:
FirstEnergy
YearEndedDecember31,
AffectedLineIteminConsolidated
StatementsofIncome
ReclassificationsfromAOCI(2)
2015
2014
2013
(Inmillions)
Gains&lossesoncashflowhedges
Commoditycontracts
$
(3
)
$
(10
)
$
(8
)
Otheroperatingexpenses
Longtermdebt
8
8
11
Interestexpense
5
(2
)
3
Totalbeforetaxes
(1
)
1
(1
)
Incometaxes(benefits)
$
4
$
(1
)
$
2
Netoftax
UnrealizedgainsonAFSsecurities
Realizedgainsonsalesofsecurities
$
(25
)
$
(63
)
$
(56
)
Investmentincome(loss)
9
24
21
Incometaxes(benefits)
$
(16
)
$
(39
)
$
(35
)
Netoftax
DefinedbenefitpensionandOPEBplans
Priorservicecosts
$
(126
)
$
(168
)
$
(195
)
(1)
49
65
75
Incometaxes(benefits)
$
(77
)
$
(103
)
$
(120
)
Netoftax
(1)TheseAOCIcomponentsareincludedinthecomputationofnetperiodicpensioncost.SeeNote3,PensionandOther
PostemploymentBenefitsforadditionaldetails.
(2)ParenthesisrepresentcreditstotheConsolidatedStatementsofIncomefromAOCI.