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Summary of Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2018
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 2018 and 2017.
FirstEnergy
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(In millions, except per share amounts)
2018
 
2017 (4)
 
Dec. 31
 
Sep. 30
 
Jun. 30
 
Mar. 31
 
Dec. 31
 
Sep. 30
 
Jun. 30
 
Mar. 31
Revenues
$
2,710

 
$
3,064

 
$
2,625

 
$
2,862

 
$
2,681

 
$
2,910

 
$
2,561

 
$
2,776

Other operating expense
770

 
739

 
684

 
940

 
803

 
651

 
657

 
650

Provision for depreciation
293

 
283

 
283

 
277

 
262

 
261

 
254

 
250

Impairment of assets (Note 1)
—

 
—

 
—

 
—

 
28

 
13

 
—

 
—

Operating Income
512

 
710

 
700

 
580

 
505

 
733

 
574

 
616

Pension and OPEB mark-to-market adjustment
(144
)
 
—

 
—

 
—

 
(102
)
 
—

 
—

 
—

Income before income taxes
169

 
520

 
409

 
414

 
171

 
503

 
352

 
400

Income taxes
(13
)
 
133

 
121

 
249

 
1,232

 
202

 
132

 
149

Income from continuing operations
182

 
387

 
288

 
165

 
(1,061
)
 
301

 
220

 
251

Discontinued operations (1) (Note 3)
(44
)
 
(845
)
 
11

 
1,204

 
(1,438
)
 
95

 
(46
)
 
(46
)
Net Income (Loss)
138

 
(458
)
 
299

 
1,369

 
(2,499
)
 
396

 
174

 
205

Income allocated to preferred shareholders (2)
10

 
54

 
165

 
156

 
—

 
—

 
—

 
—

Net income (loss) attributable to common shareholders
128

 
(512
)
 
134

 
1,213

 
(2,499
)
 
396

 
174

 
205

Earnings (loss) per share of common stock-(3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic - Continuing Operations
0.34

 
0.66

 
0.27

 
0.01

 
(2.39
)
 
0.68

 
0.49

 
0.57

Basic - Discontinued Operations (Note 3)
(0.09
)
 
(1.68
)
 
0.01

 
2.54

 
(3.23
)
 
0.21

 
(0.10
)
 
(0.11
)
Basic - Net Income (Loss) Attributable to Common Shareholders
0.25

 
(1.02
)
 
0.28

 
2.55

 
(5.62
)
 
0.89

 
0.39

 
0.46

Diluted - Continuing Operations
0.34

 
0.66

 
0.27

 
0.01

 
(2.39
)
 
0.68

 
0.49

 
0.57

Diluted - Discontinued Operations (Note 3)
(0.09
)
 
(1.68
)
 
0.01

 
2.53

 
(3.23
)
 
0.21

 
(0.10
)
 
(0.11
)
Diluted - Net Income (Loss) Attributable to Common Shareholders
0.25

 
(1.02
)
 
0.28

 
2.54

 
(5.62
)
 
0.89

 
0.39

 
0.46

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Net of income taxes
(2) The sum of quarterly income allocated to preferred shareholders may not equal annual income allocated to preferred shareholders as quarter-to-date and year-to-date amounts are calculated independently.
(3) The sum of quarterly earnings per share information may not equal annual earnings per share due to the issuance of shares and conversion of preferred shares throughout the year. See FirstEnergy's Consolidated Statements of Stockholders' Equity and Note 6, "Stock-Based Compensation Plans," for additional information.
(4) Prior year numbers have been re-casted for discontinued operations.