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Summary of Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2013
Quarterly Financial Data [Abstract]  
SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED)
SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED)

The following summarizes certain consolidated operating results by quarter for 2013 and 2012.
FirstEnergy
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
2013
 
2012
 
Dec. 31
 
Sept. 30
 
June 30
 
Mar. 31
 
Dec. 31
 
Sept. 30
 
June 30
 
Mar. 31
Revenues
$
3,647

 
$
4,036

 
$
3,511

 
$
3,723

 
$
3,493

 
$
4,052

 
$
3,746

 
$
3,982

Other operating expense
948

 
877

 
886

 
882

 
1,163

 
861

 
920

 
816

Pensions and OPEB mark-to-market
(256
)
 

 

 

 
609

 

 

 

Provision for depreciation
293

 
316

 
300

 
293

 
285

 
272

 
284

 
278

Impairment of long-lived assets
322

 

 
473

 

 

 

 

 

Operating Income (Loss)
401

 
512

 
46

 
648

 
(39
)
 
902

 
549

 
740

Income (loss) from continuing operations before income taxes
208

 
286

 
(230
)
 
306

 
(258
)
 
729

 
307

 
522

Income taxes (benefits)
66

 
77

 
(62
)
 
114

 
(105
)
 
307

 
123

 
220

Income (loss) from continuing operations
142

 
209

 
(168
)
 
192

 
(153
)
 
422

 
184

 
302

Discontinued operations (net of income taxes)

 
9

 
4

 
4

 
5

 
3

 
4

 
4

Net Income (Loss)
142

 
218

 
(164
)
 
196

 
(148
)
 
425

 
188

 
306

Earnings (loss) available to FirstEnergy Corp.
142

 
218

 
(164
)
 
196

 
(148
)
 
425

 
187

 
306

Earnings (loss) per share of common stock-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic - Continuing Operations
0.34

 
0.50

 
(0.40
)
 
0.46

 
(0.36
)
 
1.01

 
0.44

 
0.72

Basic - Discontinued Operations (Note 20)

 
0.02

 
0.01

 
0.01

 
0.01

 
0.01

 
0.01

 
0.01

Basic - Earnings Available to FirstEnergy Corp.
0.34

 
0.52

 
(0.39
)
 
0.47

 
(0.35
)
 
1.02

 
0.45

 
0.73

Diluted - Continuing Operations
0.34

 
0.50

 
(0.40
)
 
0.46

 
(0.36
)
 
1.00

 
0.44

 
0.72

Diluted - Discontinued Operations (Note 20)

 
0.02

 
0.01

 
0.01

 
0.01

 
0.01

 
0.01

 
0.01

Diluted - Earnings Available to FirstEnergy Corp.
0.34

 
0.52

 
(0.39
)
 
0.47

 
(0.35
)
 
1.01

 
0.45

 
0.73

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF INCOME
(In millions)
2013
 
2012
 
Dec. 31
 
Sept. 30
 
June 30
 
Mar. 31
 
Dec. 31
 
Sept. 30
 
June 30
 
Mar. 31
Revenues
$
1,518

 
$
1,679

 
$
1,452

 
$
1,524

 
$
1,383

 
$
1,550

 
$
1,450

 
$
1,511

Other operating expense
382

 
339

 
387

 
379

 
328

 
342

 
392

 
294

Pensions and OPEB mark-to-market
(81
)
 

 

 

 
166

 

 

 

Provision for depreciation
75

 
80

 
76

 
75

 
72

 
70

 
68

 
62

Operating Income (Loss)
121

 
65

 
(39
)
 
95

 
(56
)
 
167

 
9

 
219

Income (loss) from continuing operations before income taxes
114

 
56

 
(117
)
 
(1
)
 
(74
)
 
161

 
(6
)
 
195

Income taxes (benefits)
25

 
23

 
(42
)
 

 
(36
)
 
65

 
(1
)
 
75

Income (loss) from continuing operations
89

 
33

 
(75
)
 
(1
)
 
(38
)
 
96

 
(5
)
 
120

Discontinued operations (net of income taxes)

 
7

 
4

 
3

 
3

 
5

 
4

 
2

Net Income (Loss)
89

 
40

 
(71
)
 
2

 
(35
)
 
101

 
(1
)
 
122