SUPPLEMENTAL GUARANTOR INFORMATION |
16. SUPPLEMENTAL GUARANTOR INFORMATION
In 2007, FGCO completed a sale and leaseback transaction for its 93.825% undivided interest in
Bruce Mansfield Unit 1. FES has fully, unconditionally and irrevocably guaranteed all of FGCO’s
obligations under each of the leases. The related lessor notes and pass through certificates are
not guaranteed by FES or FGCO, but the notes are secured by, among other things, each lessor
trust’s undivided interest in Unit 1, rights and interests under the applicable lease and rights
and interests under other related agreements, including FES’ lease guaranty. This transaction is
classified as an operating lease under GAAP for FES and FirstEnergy and as a financing for FGCO.
The condensed consolidating statements of income for the three month and six month periods ended
June 30, 2011 and 2010, consolidating balance sheets as of June 30, 2011 and December 31, 2010 and
consolidating statements of cash flows for the three months ended June 30, 2011 and 2010 for FES
(parent and guarantor), FGCO and NGC (non-guarantor) are presented below. Investments in wholly
owned subsidiaries are accounted for by FES using the equity method. Results of operations for FGCO
and NGC are, therefore, reflected in FES’ investment accounts and earnings as if operating lease
treatment was achieved. The principal elimination entries eliminate investments in subsidiaries and
intercompany balances and transactions and the entries required to reflect operating lease
treatment associated with the 2007 Bruce Mansfield Unit 1 sale and leaseback transaction.
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended June 30, 2011 |
|
FES |
|
|
FGCO |
|
|
NGC |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES
|
|
$ |
1,275 |
|
|
$ |
535 |
|
|
$ |
393 |
|
|
$ |
(911 |
) |
|
$ |
1,292 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fuel
|
|
|
6 |
|
|
|
266 |
|
|
|
44 |
|
|
|
— |
|
|
|
316 |
|
Purchased power from affiliates
|
|
|
902 |
|
|
|
9 |
|
|
|
65 |
|
|
|
(911 |
) |
|
|
65 |
|
Purchased power from non-affiliates
|
|
|
332 |
|
|
|
(3 |
) |
|
|
— |
|
|
|
— |
|
|
|
329 |
|
Other operating expenses
|
|
|
159 |
|
|
|
115 |
|
|
|
143 |
|
|
|
12 |
|
|
|
429 |
|
Provision for depreciation
|
|
|
1 |
|
|
|
32 |
|
|
|
36 |
|
|
|
(1 |
) |
|
|
68 |
|
General taxes
|
|
|
16 |
|
|
|
8 |
|
|
|
6 |
|
|
|
— |
|
|
|
30 |
|
Impairment of long-lived assets
|
|
|
— |
|
|
|
7 |
|
|
|
— |
|
|
|
— |
|
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
1,416 |
|
|
|
434 |
|
|
|
294 |
|
|
|
(900 |
) |
|
|
1,244 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING INCOME (LOSS)
|
|
|
(141 |
) |
|
|
101 |
|
|
|
99 |
|
|
|
(11 |
) |
|
|
48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSE):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income
|
|
|
— |
|
|
|
1 |
|
|
|
15 |
|
|
|
— |
|
|
|
16 |
|
Miscellaneous income (expense), including
net income from equity investees
|
|
|
123 |
|
|
|
1 |
|
|
|
— |
|
|
|
(120 |
) |
|
|
4 |
|
Interest expense — affiliates
|
|
|
— |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
— |
|
|
|
(2 |
) |
Interest expense — other
|
|
|
(24 |
) |
|
|
(28 |
) |
|
|
(16 |
) |
|
|
16 |
|
|
|
(52 |
) |
Capitalized interest
|
|
|
— |
|
|
|
5 |
|
|
|
5 |
|
|
|
— |
|
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense)
|
|
|
99 |
|
|
|
(22 |
) |
|
|
3 |
|
|
|
(104 |
) |
|
|
(24 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES
|
|
|
(42 |
) |
|
|
79 |
|
|
|
102 |
|
|
|
(115 |
) |
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME TAXES (BENEFITS)
|
|
|
(62 |
) |
|
|
25 |
|
|
|
38 |
|
|
|
3 |
|
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INCOME
|
|
$ |
20 |
|
|
$ |
54 |
|
|
$ |
64 |
|
|
$ |
(118 |
) |
|
$ |
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, 2011 |
|
FES |
|
|
FGCO |
|
|
NGC |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES
|
|
$ |
2,642 |
|
|
$ |
1,278 |
|
|
$ |
862 |
|
|
$ |
(2,098 |
) |
|
$ |
2,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fuel
|
|
|
7 |
|
|
|
560 |
|
|
|
92 |
|
|
|
— |
|
|
|
659 |
|
Purchased power from affiliates
|
|
|
2,087 |
|
|
|
11 |
|
|
|
134 |
|
|
|
(2,098 |
) |
|
|
134 |
|
Purchased power from non-affiliates
|
|
|
629 |
|
|
|
(3 |
) |
|
|
— |
|
|
|
— |
|
|
|
626 |
|
Other operating expenses
|
|
|
321 |
|
|
|
233 |
|
|
|
331 |
|
|
|
25 |
|
|
|
910 |
|
Provision for depreciation
|
|
|
2 |
|
|
|
63 |
|
|
|
74 |
|
|
|
(3 |
) |
|
|
136 |
|
General taxes
|
|
|
27 |
|
|
|
19 |
|
|
|
14 |
|
|
|
— |
|
|
|
60 |
|
Impairment charges of long-lived assets
|
|
|
— |
|
|
|
20 |
|
|
|
— |
|
|
|
— |
|
|
|
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
3,073 |
|
|
|
903 |
|
|
|
645 |
|
|
|
(2,076 |
) |
|
|
2,545 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING INCOME (LOSS)
|
|
|
(431 |
) |
|
|
375 |
|
|
|
217 |
|
|
|
(22 |
) |
|
|
139 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSE):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income
|
|
|
1 |
|
|
|
1 |
|
|
|
20 |
|
|
|
— |
|
|
|
22 |
|
Miscellaneous income, including
net income from equity investees
|
|
|
356 |
|
|
|
2 |
|
|
|
— |
|
|
|
(350 |
) |
|
|
8 |
|
Interest expense — affiliates
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
— |
|
|
|
(3 |
) |
Interest expense — other
|
|
|
(48 |
) |
|
|
(56 |
) |
|
|
(33 |
) |
|
|
32 |
|
|
|
(105 |
) |
Capitalized interest
|
|
|
— |
|
|
|
10 |
|
|
|
10 |
|
|
|
— |
|
|
|
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense)
|
|
|
308 |
|
|
|
(44 |
) |
|
|
(4 |
) |
|
|
(318 |
) |
|
|
(58 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES
|
|
|
(123 |
) |
|
|
331 |
|
|
|
213 |
|
|
|
(340 |
) |
|
|
81 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME TAXES (BENEFITS)
|
|
|
(179 |
) |
|
|
119 |
|
|
|
80 |
|
|
|
5 |
|
|
|
25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INCOME
|
|
$ |
56 |
|
|
$ |
212 |
|
|
$ |
133 |
|
|
$ |
(345 |
) |
|
$ |
56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended June 30, 2010 |
|
FES |
|
|
FGCO |
|
|
NGC |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES
|
|
$ |
1,307 |
|
|
$ |
581 |
|
|
$ |
339 |
|
|
$ |
(901 |
) |
|
$ |
1,326 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fuel
|
|
|
7 |
|
|
|
302 |
|
|
|
34 |
|
|
|
— |
|
|
|
343 |
|
Purchased power from affiliates
|
|
|
913 |
|
|
|
8 |
|
|
|
49 |
|
|
|
(901 |
) |
|
|
69 |
|
Purchased power from non-affiliates
|
|
|
310 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
310 |
|
Other operating expenses
|
|
|
81 |
|
|
|
94 |
|
|
|
117 |
|
|
|
12 |
|
|
|
304 |
|
Provision for depreciation
|
|
|
1 |
|
|
|
27 |
|
|
|
36 |
|
|
|
(1 |
) |
|
|
63 |
|
General taxes
|
|
|
6 |
|
|
|
9 |
|
|
|
7 |
|
|
|
— |
|
|
|
22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
1,318 |
|
|
|
440 |
|
|
|
243 |
|
|
|
(890 |
) |
|
|
1,111 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING INCOME (LOSS)
|
|
|
(11 |
) |
|
|
141 |
|
|
|
96 |
|
|
|
(11 |
) |
|
|
215 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSE):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income
|
|
|
2 |
|
|
|
— |
|
|
|
11 |
|
|
|
— |
|
|
|
13 |
|
Miscellaneous income, including
net income from equity investees
|
|
|
151 |
|
|
|
1 |
|
|
|
— |
|
|
|
(148 |
) |
|
|
4 |
|
Interest expense — affiliates
|
|
|
— |
|
|
|
(2 |
) |
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
Interest expense — other
|
|
|
(24 |
) |
|
|
(28 |
) |
|
|
(15 |
) |
|
|
16 |
|
|
|
(51 |
) |
Capitalized interest
|
|
|
— |
|
|
|
20 |
|
|
|
4 |
|
|
|
— |
|
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense)
|
|
|
129 |
|
|
|
(9 |
) |
|
|
— |
|
|
|
(132 |
) |
|
|
(12 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME BEFORE INCOME TAXES
|
|
|
118 |
|
|
|
132 |
|
|
|
96 |
|
|
|
(143 |
) |
|
|
203 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME TAXES (BENEFITS)
|
|
|
(16 |
) |
|
|
48 |
|
|
|
34 |
|
|
|
3 |
|
|
|
69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INCOME
|
|
$ |
134 |
|
|
$ |
84 |
|
|
$ |
62 |
|
|
$ |
(146 |
) |
|
$ |
134 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, 2010 |
|
FES |
|
|
FGCO |
|
|
NGC |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(In millions) |
|
|
REVENUES
|
|
$ |
2,674 |
|
|
$ |
1,149 |
|
|
$ |
765 |
|
|
$ |
(1,874 |
) |
|
$ |
2,714 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fuel
|
|
|
12 |
|
|
|
582 |
|
|
|
77 |
|
|
|
— |
|
|
|
671 |
|
Purchased power from affiliates
|
|
|
1,881 |
|
|
|
12 |
|
|
|
111 |
|
|
|
(1,874 |
) |
|
|
130 |
|
Purchased power from non-affiliates
|
|
|
760 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
760 |
|
Other operating expenses
|
|
|
134 |
|
|
|
194 |
|
|
|
256 |
|
|
|
24 |
|
|
|
608 |
|
Provision for depreciation
|
|
|
2 |
|
|
|
54 |
|
|
|
73 |
|
|
|
(3 |
) |
|
|
126 |
|
General taxes
|
|
|
11 |
|
|
|
24 |
|
|
|
14 |
|
|
|
— |
|
|
|
49 |
|
Impairment of long-lived assets
|
|
|
— |
|
|
|
2 |
|
|
|
— |
|
|
|
— |
|
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
2,800 |
|
|
|
868 |
|
|
|
531 |
|
|
|
(1,853 |
) |
|
|
2,346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING INCOME (LOSS)
|
|
|
(126 |
) |
|
|
281 |
|
|
|
234 |
|
|
|
(21 |
) |
|
|
368 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSE):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income
|
|
|
4 |
|
|
|
— |
|
|
|
10 |
|
|
|
— |
|
|
|
14 |
|
Miscellaneous income, including
net income from equity investees
|
|
|
317 |
|
|
|
1 |
|
|
|
— |
|
|
|
(311 |
) |
|
|
7 |
|
Interest expense to affiliates
|
|
|
— |
|
|
|
(4 |
) |
|
|
(1 |
) |
|
|
— |
|
|
|
(5 |
) |
Interest expense — other
|
|
|
(48 |
) |
|
|
(54 |
) |
|
|
(31 |
) |
|
|
32 |
|
|
|
(101 |
) |
Capitalized interest
|
|
|
— |
|
|
|
36 |
|
|
|
8 |
|
|
|
— |
|
|
|
44 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense)
|
|
|
273 |
|
|
|
(21 |
) |
|
|
(14 |
) |
|
|
(279 |
) |
|
|
(41 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME BEFORE INCOME TAXES
|
|
|
147 |
|
|
|
260 |
|
|
|
220 |
|
|
|
(300 |
) |
|
|
327 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME TAXES (BENEFITS)
|
|
|
(67 |
) |
|
|
97 |
|
|
|
78 |
|
|
|
5 |
|
|
|
113 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INCOME
|
|
$ |
214 |
|
|
$ |
163 |
|
|
$ |
142 |
|
|
$ |
(305 |
) |
|
$ |
214 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING BALANCE SHEETS
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2011 |
|
FES |
|
|
FGCO |
|
|
NGC |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(In millions) |
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
— |
|
|
$ |
6 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6 |
|
Receivables-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customers
|
|
|
450 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
450 |
|
Associated companies
|
|
|
481 |
|
|
|
425 |
|
|
|
263 |
|
|
|
(679 |
) |
|
|
490 |
|
Other
|
|
|
24 |
|
|
|
23 |
|
|
|
4 |
|
|
|
— |
|
|
|
51 |
|
Notes receivable from associated companies
|
|
|
6 |
|
|
|
410 |
|
|
|
74 |
|
|
|
— |
|
|
|
490 |
|
Materials and supplies, at average cost
|
|
|
54 |
|
|
|
253 |
|
|
|
192 |
|
|
|
— |
|
|
|
499 |
|
Derivatives
|
|
|
221 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
221 |
|
Prepayments and other
|
|
|
34 |
|
|
|
14 |
|
|
|
1 |
|
|
|
— |
|
|
|
49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,270 |
|
|
|
1,131 |
|
|
|
534 |
|
|
|
(679 |
) |
|
|
2,256 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROPERTY, PLANT AND EQUIPMENT:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In service
|
|
|
101 |
|
|
|
6,105 |
|
|
|
5,634 |
|
|
|
(385 |
) |
|
|
11,455 |
|
Less — Accumulated provision for depreciation
|
|
|
19 |
|
|
|
2,067 |
|
|
|
2,298 |
|
|
|
(178 |
) |
|
|
4,206 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
82 |
|
|
|
4,038 |
|
|
|
3,336 |
|
|
|
(207 |
) |
|
|
7,249 |
|
Construction work in progress
|
|
|
10 |
|
|
|
198 |
|
|
|
486 |
|
|
|
— |
|
|
|
694 |
|
Property, plant and equipment held for sale, net
|
|
|
— |
|
|
|
487 |
|
|
|
— |
|
|
|
— |
|
|
|
487 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
92 |
|
|
|
4,723 |
|
|
|
3,822 |
|
|
|
(207 |
) |
|
|
8,430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENTS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nuclear plant decommissioning trusts
|
|
|
— |
|
|
|
— |
|
|
|
1,184 |
|
|
|
— |
|
|
|
1,184 |
|
Investment in associated companies
|
|
|
5,302 |
|
|
|
— |
|
|
|
— |
|
|
|
(5,302 |
) |
|
|
— |
|
Other
|
|
|
1 |
|
|
|
9 |
|
|
|
— |
|
|
|
— |
|
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,303 |
|
|
|
9 |
|
|
|
1,184 |
|
|
|
(5,302 |
) |
|
|
1,194 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DEFERRED CHARGES AND OTHER ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated deferred income tax benefits
|
|
|
18 |
|
|
|
344 |
|
|
|
— |
|
|
|
(362 |
) |
|
|
— |
|
Customer intangibles
|
|
|
129 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
129 |
|
Goodwill
|
|
|
24 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
24 |
|
Property taxes
|
|
|
— |
|
|
|
16 |
|
|
|
25 |
|
|
|
— |
|
|
|
41 |
|
Unamortized sale and leaseback costs
|
|
|
— |
|
|
|
6 |
|
|
|
— |
|
|
|
70 |
|
|
|
76 |
|
Derivatives
|
|
|
135 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
135 |
|
Other
|
|
|
39 |
|
|
|
97 |
|
|
|
7 |
|
|
|
(68 |
) |
|
|
75 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
345 |
|
|
|
463 |
|
|
|
32 |
|
|
|
(360 |
) |
|
|
480 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,010 |
|
|
$ |
6,326 |
|
|
$ |
5,572 |
|
|
$ |
(6,548 |
) |
|
$ |
12,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND CAPITALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Currently payable long-term debt
|
|
$ |
1 |
|
|
$ |
436 |
|
|
$ |
671 |
|
|
$ |
(20 |
) |
|
$ |
1,088 |
|
Short-term borrowings-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associated companies
|
|
|
453 |
|
|
|
88 |
|
|
|
— |
|
|
|
— |
|
|
|
541 |
|
Other
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
Accounts payable-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associated companies
|
|
|
665 |
|
|
|
231 |
|
|
|
165 |
|
|
|
(668 |
) |
|
|
393 |
|
Other
|
|
|
80 |
|
|
|
111 |
|
|
|
— |
|
|
|
— |
|
|
|
191 |
|
Derivatives
|
|
|
242 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
242 |
|
Other
|
|
|
69 |
|
|
|
137 |
|
|
|
46 |
|
|
|
10 |
|
|
|
262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,510 |
|
|
|
1,004 |
|
|
|
882 |
|
|
|
(678 |
) |
|
|
2,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITALIZATION:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
3,858 |
|
|
|
2,728 |
|
|
|
2,556 |
|
|
|
(5,285 |
) |
|
|
3,857 |
|
Long-term debt and other long-term obligations
|
|
|
1,483 |
|
|
|
2,050 |
|
|
|
706 |
|
|
|
(1,239 |
) |
|
|
3,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,341 |
|
|
|
4,778 |
|
|
|
3,262 |
|
|
|
(6,524 |
) |
|
|
6,857 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONCURRENT LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred gain on sale and leaseback transaction
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
942 |
|
|
|
942 |
|
Accumulated deferred income taxes
|
|
|
— |
|
|
|
— |
|
|
|
504 |
|
|
|
(288 |
) |
|
|
216 |
|
Asset retirement obligations
|
|
|
— |
|
|
|
28 |
|
|
|
847 |
|
|
|
— |
|
|
|
875 |
|
Retirement benefits
|
|
|
50 |
|
|
|
245 |
|
|
|
— |
|
|
|
— |
|
|
|
295 |
|
Lease market valuation liability
|
|
|
— |
|
|
|
194 |
|
|
|
— |
|
|
|
— |
|
|
|
194 |
|
Derivatives
|
|
|
85 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
85 |
|
Other
|
|
|
24 |
|
|
|
77 |
|
|
|
77 |
|
|
|
— |
|
|
|
178 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
159 |
|
|
|
544 |
|
|
|
1,428 |
|
|
|
654 |
|
|
|
2,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,010 |
|
|
$ |
6,326 |
|
|
$ |
5,572 |
|
|
$ |
(6,548 |
) |
|
$ |
12,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING BALANCE SHEETS
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2010 |
|
FES |
|
|
FGCO |
|
|
NGC |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(In millions) |
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
— |
|
|
$ |
9 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
9 |
|
Receivables-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customers
|
|
|
366 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
366 |
|
Associated companies
|
|
|
333 |
|
|
|
357 |
|
|
|
126 |
|
|
|
(338 |
) |
|
|
478 |
|
Other
|
|
|
21 |
|
|
|
56 |
|
|
|
13 |
|
|
|
— |
|
|
|
90 |
|
Notes receivable from associated companies
|
|
|
34 |
|
|
|
189 |
|
|
|
174 |
|
|
|
— |
|
|
|
397 |
|
Materials and supplies, at average cost
|
|
|
41 |
|
|
|
276 |
|
|
|
228 |
|
|
|
— |
|
|
|
545 |
|
Derivatives
|
|
|
182 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
182 |
|
Prepayments and other
|
|
|
48 |
|
|
|
10 |
|
|
|
1 |
|
|
|
— |
|
|
|
59 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,025 |
|
|
|
897 |
|
|
|
542 |
|
|
|
(338 |
) |
|
|
2,126 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROPERTY, PLANT AND EQUIPMENT:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In service
|
|
|
96 |
|
|
|
6,198 |
|
|
|
5,412 |
|
|
|
(385 |
) |
|
|
11,321 |
|
Less — Accumulated provision for depreciation
|
|
|
17 |
|
|
|
2,020 |
|
|
|
2,162 |
|
|
|
(175 |
) |
|
|
4,024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
79 |
|
|
|
4,178 |
|
|
|
3,250 |
|
|
|
(210 |
) |
|
|
7,297 |
|
Construction work in progress
|
|
|
9 |
|
|
|
520 |
|
|
|
534 |
|
|
|
— |
|
|
|
1,063 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
88 |
|
|
|
4,698 |
|
|
|
3,784 |
|
|
|
(210 |
) |
|
|
8,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENTS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nuclear plant decommissioning trusts
|
|
|
— |
|
|
|
— |
|
|
|
1,146 |
|
|
|
— |
|
|
|
1,146 |
|
Investment in associated companies
|
|
|
4,942 |
|
|
|
— |
|
|
|
— |
|
|
|
(4,942 |
) |
|
|
— |
|
Other
|
|
|
— |
|
|
|
12 |
|
|
|
— |
|
|
|
— |
|
|
|
12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,942 |
|
|
|
12 |
|
|
|
1,146 |
|
|
|
(4,942 |
) |
|
|
1,158 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DEFERRED CHARGES AND OTHER ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated deferred income tax benefits
|
|
|
43 |
|
|
|
412 |
|
|
|
— |
|
|
|
(455 |
) |
|
|
— |
|
Customer intangibles
|
|
|
134 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
134 |
|
Goodwill
|
|
|
24 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
24 |
|
Property taxes
|
|
|
— |
|
|
|
16 |
|
|
|
25 |
|
|
|
— |
|
|
|
41 |
|
Unamortized sale and leaseback costs
|
|
|
— |
|
|
|
10 |
|
|
|
— |
|
|
|
63 |
|
|
|
73 |
|
Derivatives
|
|
|
98 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
98 |
|
Other
|
|
|
21 |
|
|
|
71 |
|
|
|
14 |
|
|
|
(58 |
) |
|
|
48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
320 |
|
|
|
509 |
|
|
|
39 |
|
|
|
(450 |
) |
|
|
418 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,375 |
|
|
$ |
6,116 |
|
|
$ |
5,511 |
|
|
$ |
(5,940 |
) |
|
$ |
12,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND CAPITALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Currently payable long-term debt
|
|
$ |
101 |
|
|
$ |
419 |
|
|
$ |
632 |
|
|
$ |
(20 |
) |
|
$ |
1,132 |
|
Short-term borrowings-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associated companies
|
|
|
— |
|
|
|
12 |
|
|
|
— |
|
|
|
— |
|
|
|
12 |
|
Accounts payable-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associated companies
|
|
|
351 |
|
|
|
213 |
|
|
|
250 |
|
|
|
(347 |
) |
|
|
467 |
|
Other
|
|
|
139 |
|
|
|
102 |
|
|
|
— |
|
|
|
— |
|
|
|
241 |
|
Derivatives
|
|
|
266 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
266 |
|
Other
|
|
|
56 |
|
|
|
183 |
|
|
|
46 |
|
|
|
37 |
|
|
|
322 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
913 |
|
|
|
929 |
|
|
|
928 |
|
|
|
(330 |
) |
|
|
2,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITALIZATION:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stockholder’s equity
|
|
|
3,788 |
|
|
|
2,515 |
|
|
|
2,414 |
|
|
|
(4,929 |
) |
|
|
3,788 |
|
Long-term debt and other long-term obligations
|
|
|
1,519 |
|
|
|
2,119 |
|
|
|
793 |
|
|
|
(1,250 |
) |
|
|
3,181 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,307 |
|
|
|
4,634 |
|
|
|
3,207 |
|
|
|
(6,179 |
) |
|
|
6,969 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONCURRENT LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred gain on sale and leaseback transaction
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
959 |
|
|
|
959 |
|
Accumulated deferred income taxes
|
|
|
— |
|
|
|
— |
|
|
|
448 |
|
|
|
(390 |
) |
|
|
58 |
|
Asset retirement obligations
|
|
|
— |
|
|
|
27 |
|
|
|
865 |
|
|
|
— |
|
|
|
892 |
|
Retirement benefits
|
|
|
48 |
|
|
|
237 |
|
|
|
— |
|
|
|
— |
|
|
|
285 |
|
Lease market valuation liability
|
|
|
— |
|
|
|
217 |
|
|
|
— |
|
|
|
— |
|
|
|
217 |
|
Derivatives
|
|
|
81 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
81 |
|
Other
|
|
|
26 |
|
|
|
72 |
|
|
|
63 |
|
|
|
— |
|
|
|
161 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
155 |
|
|
|
553 |
|
|
|
1,376 |
|
|
|
569 |
|
|
|
2,653 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,375 |
|
|
$ |
6,116 |
|
|
$ |
5,511 |
|
|
$ |
(5,940 |
) |
|
$ |
12,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, 2011 |
|
FES |
|
|
FGCO |
|
|
NGC |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET CASH PROVIDED FROM (USED FOR)
OPERATING ACTIVITIES
|
|
$ |
(329 |
) |
|
$ |
321 |
|
|
$ |
200 |
|
|
$ |
(10 |
) |
|
$ |
182 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Financing-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
|
— |
|
|
|
140 |
|
|
|
107 |
|
|
|
— |
|
|
|
247 |
|
Short-term borrowings, net
|
|
|
453 |
|
|
|
77 |
|
|
|
— |
|
|
|
— |
|
|
|
530 |
|
Redemptions and Repayments-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
|
(135 |
) |
|
|
(192 |
) |
|
|
(155 |
) |
|
|
10 |
|
|
|
(472 |
) |
Other
|
|
|
(9 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
— |
|
|
|
(11 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided from (used for) financing activities
|
|
|
309 |
|
|
|
24 |
|
|
|
(49 |
) |
|
|
10 |
|
|
|
294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property additions
|
|
|
(6 |
) |
|
|
(109 |
) |
|
|
(219 |
) |
|
|
— |
|
|
|
(334 |
) |
Sales of investment securities held in trusts
|
|
|
— |
|
|
|
— |
|
|
|
513 |
|
|
|
— |
|
|
|
513 |
|
Purchases of investment securities held in trusts
|
|
|
— |
|
|
|
— |
|
|
|
(545 |
) |
|
|
— |
|
|
|
(545 |
) |
Loans to associated companies, net
|
|
|
28 |
|
|
|
(221 |
) |
|
|
100 |
|
|
|
— |
|
|
|
(93 |
) |
Customer acquisition costs
|
|
|
(2 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
Other
|
|
|
— |
|
|
|
(18 |
) |
|
|
— |
|
|
|
— |
|
|
|
(18 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided from (used for) investing activities
|
|
|
20 |
|
|
|
(348 |
) |
|
|
(151 |
) |
|
|
— |
|
|
|
(479 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
— |
|
|
|
(3 |
) |
|
|
— |
|
|
|
— |
|
|
|
(3 |
) |
Cash and cash equivalents at beginning of period
|
|
|
— |
|
|
|
9 |
|
|
|
— |
|
|
|
— |
|
|
|
9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$ |
— |
|
|
$ |
6 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRSTENERGY SOLUTIONS CORP.
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, 2010 |
|
FES |
|
|
FGCO |
|
|
NGC |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(In millions) |
|
NET CASH PROVIDED FROM (USED FOR)
OPERATING ACTIVITIES
|
|
$ |
(223 |
) |
|
$ |
163 |
|
|
$ |
287 |
|
|
$ |
(9 |
) |
|
$ |
218 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Financing-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings, net
|
|
|
— |
|
|
|
76 |
|
|
|
— |
|
|
|
— |
|
|
|
76 |
|
Redemptions and Repayments-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
|
— |
|
|
|
(261 |
) |
|
|
(43 |
) |
|
|
9 |
|
|
|
(295 |
) |
Other
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used for financing activities
|
|
|
(1 |
) |
|
|
(185 |
) |
|
|
(43 |
) |
|
|
9 |
|
|
|
(220 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property additions
|
|
|
(4 |
) |
|
|
(333 |
) |
|
|
(229 |
) |
|
|
— |
|
|
|
(566 |
) |
Proceeds from asset sales
|
|
|
— |
|
|
|
116 |
|
|
|
— |
|
|
|
— |
|
|
|
116 |
|
Sales of investment securities held in trusts
|
|
|
— |
|
|
|
— |
|
|
|
957 |
|
|
|
— |
|
|
|
957 |
|
Purchases of investment securities held in trusts
|
|
|
— |
|
|
|
— |
|
|
|
(979 |
) |
|
|
— |
|
|
|
(979 |
) |
Loans to associated companies, net
|
|
|
332 |
|
|
|
241 |
|
|
|
58 |
|
|
|
— |
|
|
|
631 |
|
Customer acquisition costs
|
|
|
(105 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(105 |
) |
Leasehold improvement payments to associated companies
|
|
|
— |
|
|
|
— |
|
|
|
(51 |
) |
|
|
— |
|
|
|
(51 |
) |
Other
|
|
|
1 |
|
|
|
(2 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided from (used for) investing activities
|
|
|
224 |
|
|
|
22 |
|
|
|
(244 |
) |
|
|
— |
|
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Cash and cash equivalents at beginning of period
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|