EX-99.1 2 ex_a1.htm FIRSTENERGY SOLUTIONS CORP. BALANCE SHEET & STATEMENT OF OPERATIONS FirstEnergy Solutions Corp. Balance Sheet & Statement of Operations
Exhibit A-1


FIRSTENERGY SOLUTIONS CORP.
Balance Sheet
                     June 30, 2005                     
(Unaudited)


ASSETS
       
         
CURRENT ASSETS:
       
Cash and cash equivalents
 
$
268
 
Receivables:
       
Customers
   
129,195
 
Associated companies
   
154,179
 
Other
   
2,285
 
Material and supplies
   
2,018
 
Prepayments and other
   
9,975
 
     
297,920
 
         
PROPERTY, PLANT AND EQUIPMENT:
       
In service
   
16,157
 
Less: Accumulated provision for depreciation
   
5,772
 
     
10,385
 
Construction work in progress
   
1,413
 
     
11,798
 
         
INVESTMENTS:
       
Other
   
194,346
 
     
194,346
 
         
DEFERRED CHARGES:
       
Goodwill
   
24,248
 
Accumulated deferred income taxes
   
37,443
 
Other
   
125,150
 
     
186,841
 
         
TOTAL ASSETS
 
$
690,905
 
         
LIABILITIES & CAPITALIZATION
       
         
CURRENT LIABILITIES:
       
Notes payable to associated companies
 
$
149,621
 
Accounts payable
       
Other
   
90,962
 
Associated companies
   
127,033
 
Accrued taxes
   
24,144
 
Other
   
14,342
 
     
406,102
 
         
CAPITALIZATION:
       
Common stockholder’s equity
   
269,250
 
Long-term debt
   
-
 
     
269,250
 
         
DEFERRED CREDITS:
       
Retirement benefits
   
10,809
 
Other
   
4,744
 
     
15,553
 
         
TOTAL LIABILITIES & CAPITALIZATION
 
$
690,905
 


 
 
 


                                                                            Exhibit A-1


FIRSTENERGY SOLUTIONS CORP.
            Statement of Operations           
(Unaudited)


   
 
Three Months
     
   
Ended
 
Year-to-date
 
   
June 30, 2005
 
June 30, 2005
 
           
               
REVENUES
 
$
987,520
 
$
1,950,881
 
               
EXPENSES:
             
               
Fuel, purchased power and gas
   
877,546
   
1,744,518
 
Other operating expenses
   
47,424
   
88,365
 
Provision for depreciation and amortization
   
446
   
861
 
General taxes
   
2,892
   
5,862
 
Total expenses
   
928,308
   
1,839,606
 
               
EQUITY IN SUBSIDIARY EARNINGS
   
2,600
   
28,818
 
               
INCOME BEFORE INTEREST & INCOME TAXES
   
61,812
   
140,093
 
               
NET INTEREST CHARGES:
             
               
Interest expenses
   
1,325
   
2,627
 
Capitalized interest
   
(20
)
 
(32
)
Net interest charges
   
1,305
   
2,595
 
               
INCOME TAXES
   
20,024
   
40,990
 
               
DISCONTINUED OPERATIONS
   
(995
)
 
5,114
 
               
NET INCOME
 
$
39,488
 
$
101,622