Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2013

Supplemental Guarantor Information [Abstract]

Condensed Consolidating Statements of Income and Comprehensive Income

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

For the Three Months Ended September 30, 2013	FES			FG			NG			Eliminations			Consolidated
	(In millions)
STATEMENTS OF INCOME
REVENUES	$	1,654		$	528		$	440		$	(943	)	$	1,679
OPERATING EXPENSES:
Fuel	—			249			55			—			304
Purchased power from affiliates	1,009			—			65			(942		)	132
Purchased power from non-affiliates	720			4			—			—			724
Other operating expenses	147			65			114			13			339
Provision for depreciation	1			33			46			—			80
General taxes	21			9			5			—			35
Total operating expenses	1,898			360			285			(929		)	1,614
OPERATING INCOME (LOSS)	(244		)	168			155			(14		)	65
OTHER INCOME (EXPENSE):
Loss on debt redemptions	—			—			—			—			—
Investment income (loss)	2			—			(1		)	(4		)	(3		)
Miscellaneous income, including net income from equity investees	180			19			—			(178		)	21
Interest expense — affiliates	(3		)	(2		)	(1		)	5			(1		)
Interest expense — other	(13		)	(24		)	(13		)	15			(35		)
Capitalized interest	—			1			8			—			9
Total other income (expense)	166			(6		)	(7		)	(162		)	(9		)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(78		)	162			148			(176		)	56
INCOME TAXES (BENEFITS)	(118		)	111			28			2			23
NET INCOME FROM CONTINUING OPERATIONS	40			51			120			(178		)	33
Discontinued operations (net of income taxes of $5)	—			7			—			—			7
NET INCOME	$	40		$	58		$	120		$	(178	)	$	40
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$	40		$	58		$	120		$	(178	)	$	40
OTHER COMPREHENSIVE INCOME (LOSS):
Pensions and OPEB prior service costs	(5		)	(5		)	—			5			(5		)
Amortized gain on derivative hedges	(1		)	—			—			—			(1		)
Change in unrealized gain on available-for-sale securities	5			—			5			(5		)	5
Other comprehensive income (loss)	(1		)	(5		)	5			—			(1		)
Income taxes (benefits) on other comprehensive income (loss)	(1		)	(2		)	3			(1		)	(1		)
Other comprehensive income (loss), net of tax	—			(3		)	2			1			—
COMPREHENSIVE INCOME	$	40		$	55		$	122		$	(177	)	$	40

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)

(Unaudited)

For the Nine Months Ended September 30, 2013	FES			FG			NG			Eliminations			Consolidated
	(In millions)
STATEMENTS OF INCOME
REVENUES	$	4,575		$	1,612		$	1,337		$	(2,869	)	$	4,655
OPERATING EXPENSES:
Fuel	—			782			154			—			936
Purchased power from affiliates	3,072			—			197			(2,868		)	401
Purchased power from non-affiliates	1,749			6			—			—			1,755
Other operating expenses	484			208			376			37			1,105
Provision for depreciation	4			96			134			(3		)	231
General taxes	60			28			18			—			106
Total operating expenses	5,369			1,120			879			(2,834		)	4,534
OPERATING INCOME (LOSS)	(794		)	492			458			(35		)	121
OTHER INCOME (EXPENSE):
Loss on debt redemptions	(103		)	—			—			—			(103		)
Investment income	4			—			3			(11		)	(4		)
Miscellaneous income, including net income from equity investees	543			23			—			(537		)	29
Interest expense — affiliates	(10		)	(4		)	(5		)	12			(7		)
Interest expense — other	(50		)	(79		)	(42		)	45			(126		)
Capitalized interest	1			1			26			—			28
Total other income (expense)	385			(59		)	(18		)	(491		)	(183		)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(409		)	433			440			(526		)	(62		)
INCOME TAXES (BENEFITS)	(380		)	215			138			8			(19		)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	(29		)	218			302			(534		)	(43		)
Discontinued operations (net of income taxes of $8)	—			14			—			—			14
NET INCOME (LOSS)	$	(29	)	$	232		$	302		$	(534	)	$	(29	)
STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
NET INCOME (LOSS)	$	(29	)	$	232		$	302		$	(534	)	$	(29	)
OTHER COMPREHENSIVE INCOME (LOSS):
Pensions and OPEB prior service costs	(16		)	(15		)	—			15			(16		)
Amortized gain on derivative hedges	(3		)	—			—			—			(3		)
Change in unrealized gain on available-for-sale securities	2			—			2			(2		)	2
Other comprehensive income (loss)	(17		)	(15		)	2			13			(17		)
Income taxes (benefits) on other comprehensive income (loss)	(7		)	(6		)	1			5			(7		)
Other comprehensive income (loss), net of tax	(10		)	(9		)	1			8			(10		)
COMPREHENSIVE INCOME (LOSS)	$	(39	)	$	223		$	303		$	(526	)	$	(39	)

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

For the Three Months Ended September 30, 2012	FES			FG			NG			Eliminations			Consolidated
	(In millions)
STATEMENTS OF INCOME
REVENUES	$	1,523		$	610		$	395		$	(978	)	$	1,550
OPERATING EXPENSES:
Fuel	—			248			55			—			303
Purchased power from affiliates	1,042			—			67			(978		)	131
Purchased power from non-affiliates	499			3			—			—			502
Other operating expenses	130			78			122			12			342
Provision for depreciation	1			29			41			(1		)	70
General taxes	20			10			5			—			35
Total operating expenses	1,692			368			290			(967		)	1,383
OPERATING INCOME (LOSS)	(169		)	242			105			(11		)	167
OTHER INCOME (EXPENSE):
Investment income	1			5			37			(5		)	38
Miscellaneous income, including net income from equity investees	317			—			—			(316		)	1
Interest expense — affiliates	(5		)	(2		)	(1		)	5			(3		)
Interest expense — other	(25		)	(27		)	(15		)	16			(51		)
Capitalized interest	—			1			8			—			9
Total other income (expense)	288			(23		)	29			(300		)	(6		)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	119			219			134			(311		)	161
INCOME TAXES (BENEFITS)	18			(14		)	59			2			65
NET INCOME FROM CONTINUING OPERATIONS	101			233			75			(313		)	96
Discontinued operations (net of income taxes of $3)	—			5			—			—			5
NET INCOME	$	101		$	238		$	75		$	(313	)	$	101
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$	101		$	238		$	75		$	(313	)	$	101
OTHER COMPREHENSIVE INCOME (LOSS):
Pensions and OPEB prior service costs	(5		)	(4		)	—			4			(5		)
Amortized gain on derivative hedges	(2		)	—			—			—			(2		)
Change in unrealized gain on available for sale securities	(2		)	—			(1		)	1			(2		)
Other comprehensive loss	(9		)	(4		)	(1		)	5			(9		)
Income tax benefits on other comprehensive loss	(3		)	(2		)	—			2			(3		)
Other comprehensive loss, net of tax	(6		)	(2		)	(1		)	3			(6		)
COMPREHENSIVE INCOME	$	95		$	236		$	74		$	(310	)	$	95

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

For the Nine Months Ended September 30, 2012	FES			FG			NG			Eliminations			Consolidated
	(In millions)
STATEMENTS OF INCOME
REVENUES	$	4,443		$	1,777		$	1,262		$	(2,971	)	$	4,511
OPERATING EXPENSES:
Fuel	—			824			154			—			978
Purchased power from affiliates	3,163			—			189			(2,971		)	381
Purchased power from non-affiliates	1,420			5			—			—			1,425
Other operating expenses	313			268			410			37			1,028
Provision for depreciation	3			87			114			(4		)	200
General taxes	60			28			16			—			104
Total operating expenses	4,959			1,212			883			(2,938		)	4,116
OPERATING INCOME (LOSS)	(516		)	565			379			(33		)	395
OTHER INCOME (EXPENSE):
Investment income	2			14			49			(15		)	50
Miscellaneous income, including net income from equity investees	854			19			—			(848		)	25
Interest expense — affiliates	(14		)	(5		)	(3		)	15			(7		)
Interest expense — other	(72		)	(79		)	(36		)	47			(140		)
Capitalized interest	—			3			24			—			27
Total other income (expense)	770			(48		)	34			(801		)	(45		)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	254			517			413			(834		)	350
INCOME TAXES (BENEFITS)	32			(25		)	124			8			139
NET INCOME FROM CONTINUING OPERATIONS	222			542			289			(842		)	211
Discontinued operations (net of income taxes of $6)	—			11			—			—			11
NET INCOME	$	222		$	553		$	289		$	(842	)	$	222
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$	222		$	553		$	289		$	(842	)	$	222
OTHER COMPREHENSIVE INCOME (LOSS):
Pensions and OPEB prior service costs	(2		)	(1		)	—			1			(2		)
Amortized gain on derivative hedges	(6		)	—			—			—			(6		)
Change in unrealized gain on available-for-sale securities	11			—			12			(12		)	11
Other comprehensive income (loss)	3			(1		)	12			(11		)	3
Income taxes (benefits) on other comprehensive income (loss)	1			(1		)	5			(4		)	1
Other comprehensive income, net of tax	2			—			7			(7		)	2
COMPREHENSIVE INCOME	$	224		$	553		$	296		$	(849	)	$	224

Condensed Consolidating Balance Sheets

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING BALANCE SHEETS

(Unaudited)

As of September 30, 2013	FES		FG		NG		Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—	$	2	$	—	$	—		$	2
Receivables-
Customers	524		—		—		—			524
Affiliated companies	420		445		285		(631		)	519
Other	76		22		25		—			123
Notes receivable from affiliated companies	337		163		764		(1,010		)	254
Materials and supplies	64		161		214		—			439
Derivatives	139		—		—		—			139
Prepayments and other	61		37		6		1			105
	1,621		830		1,294		(1,640		)	2,105
PROPERTY, PLANT AND EQUIPMENT:
In service	104		6,068		6,719		(383		)	12,508
Less — Accumulated provision for depreciation	26		1,928		2,882		(187		)	4,649
	78		4,140		3,837		(196		)	7,859
Construction work in progress	21		115		980		—			1,116
	99		4,255		4,817		(196		)	8,975
INVESTMENTS:
Nuclear plant decommissioning trusts	—		—		1,270		—			1,270
Investment in affiliated companies	5,503		—		—		(5,503		)	—
Other	1		10		—		—			11
	5,504		10		1,270		(5,503		)	1,281
ASSETS HELD FOR SALE (NOTE 16)	—		121		—		—			121
DEFERRED CHARGES AND OTHER ASSETS:
Accumulated deferred income tax benefits	16		169		—		(185		)	—
Customer intangibles	99		—		—		—			99
Goodwill	23		—		—		—			23
Property taxes	—		14		22		—			36
Unamortized sale and leaseback costs	—		—		—		161			161
Derivatives	65		—		—		—			65
Other	174		242		14		(162		)	268
	377		425		36		(186		)	652
	$	7,601	$	5,641	$	7,417	$	(7,525	)	$	13,134
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Currently payable long-term debt	$	1	$	366	$	514	$	(22	)	$	859
Short-term borrowings-
Affiliated companies	696		314		—		(1,010		)	—
Other	—		4		—		—			4
Accounts payable-
Affiliated companies	643		386		378		(631		)	776
Other	88		125		—		—			213
Accrued taxes	7		17		37		(19		)	42
Derivatives	103		—		—		—			103
Other	46		72		22		36			176
	1,584		1,284		951		(1,646		)	2,173
CAPITALIZATION:
Total equity	5,229		2,010		3,469		(5,479		)	5,229
Long-term debt and other long-term obligations	712		1,873		789		(1,196		)	2,178
	5,941		3,883		4,258		(6,675		)	7,407
NONCURRENT LIABILITIES:
Deferred gain on sale and leaseback transaction	—		—		—		866			866
Accumulated deferred income taxes	—		—		770		(71		)	699
Asset retirement obligations	—		176		983		—			1,159
Retirement benefits	27		228		—		—			255
Derivatives	22		—		—		—			22
Other	27		70		455		1			553
	76		474		2,208		796			3,554
	$	7,601	$	5,641	$	7,417	$	(7,525	)	$	13,134

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING BALANCE SHEETS

(Unaudited)

As of December 31, 2012	FES		FG		NG		Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—	$	3	$	—	$	—		$	3
Receivables-
Customers	483		—		—		—			483
Affiliated companies	232		417		478		(748		)	379
Other	56		19		16		—			91
Notes receivable from affiliated companies	366		7		607		(704		)	276
Materials and supplies	66		231		208		—			505
Derivatives	158		—		—		—			158
Prepayments and other	38		39		10		—			87
	1,399		716		1,319		(1,452		)	1,982
PROPERTY, PLANT AND EQUIPMENT:
In service	91		5,899		6,391		(384		)	11,997
Less — Accumulated provision for depreciation	32		1,915		2,646		(185		)	4,408
	59		3,984		3,745		(199		)	7,589
Construction work in progress	34		230		877		—			1,141
	93		4,214		4,622		(199		)	8,730
INVESTMENTS:
Nuclear plant decommissioning trusts	—		—		1,283		—			1,283
Investment in affiliated companies	4,972		—		—		(4,972		)	—
Other	—		12		—		—			12
	4,972		12		1,283		(4,972		)	1,295
DEFERRED CHARGES AND OTHER ASSETS:
Accumulated deferred income tax benefits	—		313		—		(313		)	—
Customer intangibles	110		—		—		—			110
Goodwill	24		—		—		—			24
Property taxes	—		14		22		—			36
Unamortized sale and leaseback costs	—		—		—		119			119
Derivatives	99		—		—		—			99
Other	160		194		5		(106		)	253
	393		521		27		(300		)	641
	$	6,857	$	5,463	$	7,251	$	(6,923	)	$	12,648
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Currently payable long-term debt	$	1	$	586	$	537	$	(22	)	$	1,102
Short-term borrowings-
Affiliated companies	358		346		—		(704		)	—
Other	—		4		—		—			4
Accounts payable-
Affiliated companies	748		143		583		(748		)	726
Other	63		96		—		—			159
Accrued taxes	126		25		20		—			171
Derivatives	124		—		—		—			124
Other	71		148		15		46			280
	1,491		1,348		1,155		(1,428		)	2,566
CAPITALIZATION:
Total equity	3,763		1,787		3,165		(4,952		)	3,763
Long-term debt and other long-term obligations	1,482		2,009		834		(1,207		)	3,118
	5,245		3,796		3,999		(6,159		)	6,881
NONCURRENT LIABILITIES:
Deferred gain on sale and leaseback transaction	—		—		—		892			892
Accumulated deferred income taxes	28		—		714		(227		)	515
Asset retirement obligations	—		29		936		—			965
Retirement benefits	26		215		—		—			241
Derivatives	37		—		—		—			37
Other	30		75		447		(1		)	551
	121		319		2,097		664			3,201
	$	6,857	$	5,463	$	7,251	$	(6,923	)	$	12,648

Condensed Consolidating Statements of Cash Flows

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(Unaudited)

For the Nine Months Ended September 30, 2013	FES			FG			NG			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR) OPERATING ACTIVITIES	$	(1,018	)	$	712		$	705		$	(10	)	$	389
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Short-term borrowings, net	338			—			—			(338		)	—
Equity contribution from parent	1,500			—			—			—			1,500
Redemptions and Repayments-
Long-term debt	(769		)	(352		)	(68		)	10			(1,179		)
Short-term borrowings, net	—			(32		)	—			32			—
Tender premiums	(67		)	—			—			—			(67		)
Other	(3		)	(4		)	—			—			(7		)
Net cash provided from (used for) financing activities	999			(388		)	(68		)	(296		)	247
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions	(9		)	(192		)	(276		)	—			(477		)
Nuclear fuel	—			—			(159		)	—			(159		)
Proceeds from asset sales	—			21			—			—			21
Sales of investment securities held in trusts	—			—			650			—			650
Purchases of investment securities held in trusts	—			—			(694		)	—			(694		)
Loans to affiliated companies, net	28			(156		)	(156		)	306			22
Other	—			2			(2		)	—			—
Net cash provided from (used for) investing activities	19			(325		)	(637		)	306			(637		)
Net change in cash and cash equivalents	—			(1		)	—			—			(1		)
Cash and cash equivalents at beginning of period	—			3			—			—			3
Cash and cash equivalents at end of period	$	—		$	2		$	—		$	—		$	2

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(Unaudited)

For the Nine Months Ended September 30, 2012	FES			FG			NG			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR) OPERATING ACTIVITIES	$	(971	)	$	683		$	799		$	(10	)	$	501
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Long-term debt	—			317			243			—			560
Short-term borrowings, net	982			49			—			(1,028		)	3
Redemptions and Repayments-
Long-term debt	—			(169		)	(87		)	10			(246		)
Short-term borrowings, net	—			—			(32		)	32			—
Other	(1		)	(6		)	(2		)	—			(9		)
Net cash provided from financing activities	981			191			122			(986		)	308
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions	(10		)	(175		)	(350		)	—			(535		)
Nuclear fuel	—			—			(207		)	—			(207		)
Proceeds from asset sales	—			17			—			—			17
Sales of investment securities held in trusts	—			—			1,167			—			1,167
Purchases of investment securities held in trusts	—			—			(1,194		)	—			(1,194		)
Loans to affiliated companies, net	1			(715		)	(337		)	996			(55		)
Other	(1		)	(5		)	—			—			(6		)
Net cash used for investing activities	(10		)	(878		)	(921		)	996			(813		)
Net change in cash and cash equivalents	—			(4		)	—			—			(4		)
Cash and cash equivalents at beginning of period	—			7			—			—			7
Cash and cash equivalents at end of period	$	—		$	3		$	—		$	—		$	3