XML 43 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (FirstEnergy Corp.) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
REVENUES:    
Electric utilities $ 2,739 $ 2,388
Unregulated businesses 1,450 1,335
Total revenues 4,189 [1] 3,723 [1]
OPERATING EXPENSES:    
Fuel 617 630
Purchased power 1,455 946
Other operating expenses 1,182 882
Provision for depreciation 294 293
Amortization (deferral) of regulatory assets, net (28) 59
General taxes 271 265
Total operating expenses 3,791 3,075
OPERATING INCOME (LOSS) 398 648
OTHER INCOME (EXPENSE):    
Loss on debt redemptions (7) (117)
Investment income 22 18
Interest expense (265) (258)
Capitalized interest 22 15
Total other income (expense) (228) (342)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 170 306
INCOME TAXES 48 114
INCOME FROM CONTINUING OPERATIONS 122 192
Discontinued operations (net of income taxes of $69 and $2, respectively) (Note 13) 86 4
NET INCOME (LOSS) $ 208 $ 196
EARNINGS PER SHARE OF COMMON STOCK:    
Basic - Continuing Operations, in dollars per share $ 0.29 $ 0.46
Basic - Discontinued Operations (Note 13), in dollars per share $ 0.21 $ 0.01
Basic - Earnings Available to FirstEnergy Corp., in dollars per share $ 0.50 $ 0.47
Diluted - Continuing Operations, in dollars per share $ 0.29 $ 0.46
Diluted - Discontinued Operations (Note 13), in dollars per share $ 0.20 $ 0.01
Diluted - Earnings Available to FirstEnergy Corp., in dollars per share $ 0.49 $ 0.47
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:    
Basic, in shares 419 418
Diluted, in shares 420 419
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK, in dollars per share $ 0.72 [2] $ 0.55 [2]
[1] Includes excise tax collections of $117 million and $122 million in the three months ended March 31, 2014 and 2013, respectively.
[2] The three months ended March 31, 2014 includes a dividend declared of $0.36 per share on January 21, 2014, paid on March 1, 2014 and a dividend declared of $0.36 per share on March 18, 2014, payable June 1, 2014. The three months ended March 31, 2013 includes a dividend declared of $0.55