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Summary of Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
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 2019 and 2018.
FirstEnergy
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(In millions, except per share amounts)
2019
 
2018
 
Dec. 31
 
Sep. 30
 
Jun. 30
 
Mar. 31
 
Dec. 31
 
Sep. 30
 
Jun. 30
 
Mar. 31
Revenues
$
2,673

 
$
2,963

 
$
2,516

 
$
2,883

 
$
2,710

 
$
3,064

 
$
2,625

 
$
2,862

Other operating expense
809

 
758

 
606

 
779

 
770

 
739

 
684

 
940

Provision for depreciation
310

 
304

 
309

 
297

 
293

 
283

 
283

 
277

Operating Income
615

 
681

 
585

 
629

 
512

 
710

 
700

 
580

Pension and OPEB mark-to-market adjustment
(674
)
 
—

 
—

 
—

 
(144
)
 
—

 
—

 
—

Income before income taxes
(249
)
 
496

 
422

 
448

 
169

 
520

 
409

 
414

Income taxes
(68
)
 
107

 
81

 
93

 
35

 
121

 
101

 
233

Income from continuing operations
(181
)
 
389

 
341

 
355

 
134

 
399

 
308

 
181

Discontinued operations (1) (Note 3)
70

 
2

 
(29
)
 
(35
)
 
4

 
(857
)
 
(9
)
 
1,188

Net Income (Loss)
(111
)
 
391

 
312

 
320

 
138

 
(458
)
 
299

 
1,369

Income allocated to preferred stockholders (2)
—

 
—

 
4

 
5

 
10

 
54

 
165

 
156

Net income (loss) attributable to common stockholders
(111
)
 
391

 
308

 
315

 
128

 
(512
)
 
134

 
1,213

Earnings (loss) per share of common stock-(3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic - Continuing Operations
(0.33
)
 
0.72

 
0.63

 
0.66

 
0.24

 
0.68

 
0.30

 
0.05

Basic - Discontinued Operations (Note 3)
0.13

 
0.01

 
(0.05
)
 
(0.07
)
 
0.01

 
(1.70
)
 
(0.02
)
 
2.50

Basic - Net Income (Loss) Attributable to Common Stockholders
(0.20
)
 
0.73

 
0.58

 
0.59

 
0.25

 
(1.02
)
 
0.28

 
2.55

Diluted - Continuing Operations
(0.33
)
 
0.72

 
0.63

 
0.66

 
0.24

 
0.68

 
0.30

 
0.05

Diluted - Discontinued Operations (Note 3)
0.13

 
—

 
(0.05
)
 
(0.07
)
 
0.01

 
(1.70
)
 
(0.02
)
 
2.49

Diluted - Net Income (Loss) Attributable to Common Stockholders
(0.20
)
 
0.72

 
0.58

 
0.59

 
0.25

 
(1.02
)
 
0.28

 
2.54

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Net of income taxes
(2) The sum of quarterly income allocated to preferred stockholders may not equal annual income allocated to preferred stockholders 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 the FirstEnergy Consolidated Statements of Stockholders' Equity and Note 6, "Stock-Based Compensation Plans," for additional information.