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Organization, Basis of Presentation and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Regulatory assets on the Balance Sheets
The following table provides information about the composition of net regulatory assets as of December 31, 2014 and December 31, 2013, and the changes during the year ended December 31, 2014:

Regulatory Assets by Source
 
December 31,
2014
 
December 31,
2013
 
Increase
(Decrease)
 
 
(In millions)
Regulatory transition costs
 
$
240

 
$
266

 
$
(26
)
Customer receivables for future income taxes
 
370

 
518

 
(148
)
Nuclear decommissioning and spent fuel disposal costs
 
(305
)
 
(198
)
 
(107
)
Asset removal costs
 
(254
)
 
(362
)
 
108

Deferred transmission costs
 
90

 
112

 
(22
)
Deferred generation costs
 
281

 
346

 
(65
)
Deferred distribution costs
 
182

 
194

 
(12
)
Contract valuations
 
153

 
260

 
(107
)
Storm-related costs
 
465

 
455

 
10

Other
 
189

 
263

 
(74
)
Net Regulatory Assets included in the Consolidated Balance Sheet
 
$
1,411

 
$
1,854

 
$
(443
)
Receivables from customers
Billed and unbilled customer receivables as of December 31, 2014 and 2013 are shown below.
Customer Receivables
 
FirstEnergy
 
FES
 
 
(In millions)
December 31, 2014
 
 
 
 
Billed
 
$
914

 
$
239

Unbilled
 
640

 
176

Total
 
$
1,554

 
$
415

 
 
 
 
 
December 31, 2013
 
 
 
 
Billed
 
$
1,010

 
$
301

Unbilled
 
710

 
238

Total
 
$
1,720

 
$
539
Reconciliation of basic and diluted earnings per share
The following table reconciles basic and diluted earnings per share of common stock:
Reconciliation of Basic and Diluted Earnings per Share of Common Stock
 
2014
 
2013
 
2012
 
 
(In millions, except per share amounts)
 
 
 
 
 
 
 
Income from continuing operations
 
$
213

 
$
375

 
$
755

Less: Income attributable to noncontrolling interest
 
—

 
—

 
1

Income from continuing operations available to common shareholders
 
213

 
375

 
754

Discontinued operations (Note 19)
 
86

 
17

 
16

Earnings available to FirstEnergy Corp.
 
$
299

 
$
392

 
$
770

 
 
 
 
 
 
 
Weighted average number of basic shares outstanding
 
420

 
418

 
418

Assumed exercise of dilutive stock options and awards(1)
 
1

 
1

 
1

Weighted average number of diluted shares outstanding
 
421

 
419

 
419

 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
Basic earnings per share:
 
 
 
 
 
 
Continuing operations
 
$
0.51

 
$
0.90

 
$
1.81

Discontinued operations (Note 19)
 
0.20

 
0.04

 
0.04

Earnings per basic share
 
$
0.71

 
$
0.94

 
$
1.85

 
 
 
 
 
 
 
Diluted earnings per share:
 
 
 
 
 
 
Continuing operations
 
$
0.51

 
$
0.90

 
$
1.80

Discontinued operations (Note 19)
 
0.20

 
0.04

 
0.04

Earnings per diluted share
 
$
0.71

 
$
0.94

 
$
1.84



(1)
For the years ended December 31, 2014 and 2013, approximately two million shares were excluded from the calculation of diluted shares outstanding, as their inclusion would be antidilutive. The number of potentially dilutive securities not included in the calculation of diluted shares outstanding due to their antidilutive effect was not significant for the year ending December 31, 2012.
Property, plant and equipment balances
Net plant in service balances by segment as of December 31, 2014 and 2013 were as follows:
 
 
December 31, 2014
 
December 31, 2013
Property, Plant and Equipment
 
In Service
 
Accum. Depr.
 
Net Plant
 
In Service
 
Accum. Depr.
 
Net Plant
 
 
(In millions)
Regulated Distribution
 
$
23,973

 
$
(6,759
)
 
$
17,214

 
$
23,098

 
$
(6,514
)
 
$
16,584

Regulated Transmission
 
6,634

 
(1,595
)
 
5,039

 
5,564

 
(1,511
)
 
4,053

Competitive Energy Services(1)
 
16,442

 
(5,598
)
 
10,844

 
15,206

 
(5,088
)
 
10,118

Corporate/Other
 
435

 
(198
)
 
237

 
360

 
(167
)
 
193

Total
 
$
47,484

 
$
(14,150
)
 
$
33,334

 
$
44,228

 
$
(13,280
)
 
$
30,948



(1) Primarily consists of generating assets.
Annual composite rates
The respective annual composite rates for FirstEnergy's and FES' electric plant in 2014, 2013 and 2012 are shown in the following table:
 
 
Annual Composite Depreciation Rate
 
 
2014
 
2013
 
2012
FirstEnergy
 
2.5
%
 
2.6
%
 
2.5
%
FES
 
3.1
%
 
3.1
%
 
3.1
%
Summary of changes in goodwill
The following table presents goodwill by reporting unit:
Goodwill
 
Regulated Distribution
 
Regulated Transmission
 
Competitive Energy Services
 
Consolidated
 
 
(In millions)
 
 
 
 
 
 
Balance as of December 31, 2014
 
$
5,092

 
$
526

 
$
800

 
$
6,418