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Consolidated Statements of Income (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
REVENUES:      
Electric utilities $ 10,396,000,000 $ 9,815,000,000 $ 11,139,000,000
Unregulated businesses 5,862,000,000 3,524,000,000 1,834,000,000
Excise and gross receipts tax collections 486,000,000 428,000,000 395,000,000
Total revenues 16,258,000,000 [1] 13,339,000,000 [1] 12,973,000,000 [1]
EXPENSES:      
Fuel 2,317,000,000 1,432,000,000 1,153,000,000
Purchased power 4,986,000,000 4,624,000,000 4,730,000,000
Other operating expenses 3,909,000,000 2,696,000,000 2,551,000,000
Pension and other postretirement benefits mark-to-market 507,000,000 190,000,000 321,000,000
Provision for depreciation 1,121,000,000 768,000,000 757,000,000
Amortization of regulatory assets, net 329,000,000 722,000,000 1,019,000,000
General taxes 978,000,000 776,000,000 753,000,000
Impairment of long-lived assets 413,000,000 388,000,000 6,000,000
Total expenses 14,560,000,000 11,596,000,000 11,290,000,000
OPERATING INCOME 1,698,000,000 1,743,000,000 1,683,000,000
OTHER INCOME (EXPENSE):      
Gain on partial sale of Signal Peak 569,000,000 0 0
Investment income 114,000,000 117,000,000 204,000,000
Interest expense (1,008,000,000) (845,000,000) (978,000,000)
Capitalized interest 70,000,000 165,000,000 131,000,000
Total other expense (255,000,000) (563,000,000) (643,000,000)
INCOME (LOSS) BEFORE INCOME TAXES 1,443,000,000 1,180,000,000 1,040,000,000
INCOME TAXES 574,000,000 462,000,000 184,000,000
NET INCOME (LOSS) 869,000,000 718,000,000 856,000,000
Income (loss) attributable to noncontrolling interest (16,000,000) (24,000,000) (16,000,000)
EARNINGS AVAILABLE TO FIRSTENERGY CORP. 885,000,000 742,000,000 872,000,000
Basic earnings per share of common stock $ 2.22 $ 2.44 $ 2.87
Weighted average number of basic shares outstanding 399 [2] 304 [2] 304 [2]
Diluted earnings per share of common stock $ 2.21 $ 2.42 $ 2.85
Weighted average number of diluted shares outstanding 401 [2] 305 [2] 306 [2]
FES
     
REVENUES:      
Other 223,000,000 349,000,000 455,000,000
Total revenues 5,477,000,000 5,828,000,000 4,728,000,000
EXPENSES:      
Fuel 1,344,000,000 1,403,000,000 1,129,000,000
Other operating expenses 1,630,000,000 1,230,000,000 1,143,000,000
Pension and other postretirement benefits mark-to-market 171,000,000 107,000,000 150,000,000
Provision for depreciation 275,000,000 246,000,000 262,000,000
General taxes 124,000,000 94,000,000 87,000,000
Impairment of long-lived assets 294,000,000 388,000,000 6,000,000
Total expenses 5,458,000,000 5,424,000,000 3,995,000,000
OPERATING INCOME 19,000,000 404,000,000 733,000,000
OTHER INCOME (EXPENSE):      
Investment income 57,000,000 59,000,000 125,000,000
Miscellaneous income (expense) 30,000,000 17,000,000 13,000,000
Interest expense (211,000,000) (216,000,000) (152,000,000)
Capitalized interest 35,000,000 92,000,000 60,000,000
Total other expense (89,000,000) (48,000,000) 46,000,000
INCOME (LOSS) BEFORE INCOME TAXES (70,000,000) 356,000,000 779,000,000
INCOME TAXES (11,000,000) 125,000,000 281,000,000
NET INCOME (LOSS) (59,000,000) 231,000,000 498,000,000
FES | Affiliates
     
REVENUES:      
Electric utilities 752,000,000 2,227,000,000 2,826,000,000
EXPENSES:      
Purchased power 242,000,000 371,000,000 222,000,000
OTHER INCOME (EXPENSE):      
Interest expense (8,000,000) (10,000,000) (10,000,000)
FES | Non-Affiliates
     
REVENUES:      
Electric utilities 4,502,000,000 3,252,000,000 1,447,000,000
EXPENSES:      
Purchased power 1,378,000,000 1,585,000,000 996,000,000
OTHER INCOME (EXPENSE):      
Interest expense (203,000,000) (206,000,000) (142,000,000)
OE
     
REVENUES:      
Electric utilities 1,526,000,000 1,729,000,000 2,418,000,000
Excise and gross receipts tax collections 107,000,000 107,000,000 99,000,000
Total revenues 1,633,000,000 1,836,000,000 2,517,000,000
EXPENSES:      
Other operating expenses 451,000,000 342,000,000 439,000,000
Pension and other postretirement benefits mark-to-market 43,000,000 24,000,000 26,000,000
Provision for depreciation 93,000,000 91,000,000 92,000,000
Amortization of regulatory assets, net 30,000,000 63,000,000 94,000,000
General taxes 190,000,000 183,000,000 171,000,000
Total expenses 1,366,000,000 1,541,000,000 2,296,000,000
OPERATING INCOME 267,000,000 295,000,000 221,000,000
OTHER INCOME (EXPENSE):      
Investment income 23,000,000 22,000,000 47,000,000
Miscellaneous income (expense) 2,000,000 4,000,000 3,000,000
Interest expense (88,000,000) (89,000,000) (91,000,000)
Capitalized interest 2,000,000 1,000,000 1,000,000
Total other expense (61,000,000) (62,000,000) (40,000,000)
INCOME (LOSS) BEFORE INCOME TAXES 206,000,000 233,000,000 181,000,000
INCOME TAXES 78,000,000 78,000,000 62,000,000
NET INCOME (LOSS) 128,000,000 155,000,000 119,000,000
OE | Affiliates
     
EXPENSES:      
Purchased power 287,000,000 522,000,000 993,000,000
OE | Non-Affiliates
     
EXPENSES:      
Purchased power 272,000,000 316,000,000 481,000,000
CEI
     
REVENUES:      
Electric utilities 808,778,000 1,152,950,000 1,609,946,000
Excise and gross receipts tax collections 68,009,000 68,422,000 66,192,000
Total revenues 876,787,000 1,221,372,000 1,676,138,000
EXPENSES:      
Other operating expenses 129,716,000 115,066,000 148,567,000
Pension and other postretirement benefits mark-to-market 20,069,000 11,945,000 38,329,000
Provision for depreciation 76,135,000 74,907,000 73,883,000
Amortization of regulatory assets, net 52,846,000 169,541,000 236,380,000
General taxes 154,487,000 143,294,000 145,324,000
Total expenses 669,525,000 1,005,124,000 1,622,884,000
OPERATING INCOME 207,262,000 216,248,000 53,254,000
OTHER INCOME (EXPENSE):      
Investment income 23,565,000 27,360,000 31,194,000
Miscellaneous income (expense) 3,959,000 2,362,000 3,911,000
Interest expense (129,679,000) (133,351,000) (137,171,000)
Capitalized interest 608,000 63,000 261,000
Total other expense (101,547,000) (103,566,000) (101,805,000)
INCOME (LOSS) BEFORE INCOME TAXES 105,715,000 112,682,000 (48,551,000)
INCOME TAXES 33,852,000 35,127,000 (19,794,000)
NET INCOME (LOSS) 71,863,000 77,555,000 (28,757,000)
Income (loss) attributable to noncontrolling interest 1,293,000 1,517,000 1,714,000
EARNINGS AVAILABLE TO FIRSTENERGY CORP. 70,570,000 76,038,000 (30,471,000)
CEI | Affiliates
     
EXPENSES:      
Purchased power 143,030,000 361,317,000 734,592,000
CEI | Non-Affiliates
     
EXPENSES:      
Purchased power 93,242,000 129,054,000 245,809,000
TE
     
REVENUES:      
Electric utilities 448,988,000 489,310,000 810,069,000
Excise and gross receipts tax collections 27,983,000 27,387,000 23,839,000
Total revenues 476,971,000 516,697,000 833,908,000
EXPENSES:      
Other operating expenses 133,366,000 101,895,000 135,938,000
Pension and other postretirement benefits mark-to-market 10,560,000 4,183,000 14,360,000
Provision for depreciation 32,467,000 32,161,000 31,181,000
Amortization of regulatory assets, net (1,679,000) (1,427,000) 37,820,000
General taxes 53,911,000 52,045,000 47,815,000
Total expenses 396,998,000 433,554,000 796,149,000
OPERATING INCOME 79,973,000 83,143,000 37,759,000
OTHER INCOME (EXPENSE):      
Investment income 11,054,000 14,727,000 24,388,000
Miscellaneous income (expense) (366,000) (4,287,000) (2,169,000)
Interest expense (41,876,000) (41,883,000) (36,512,000)
Capitalized interest 547,000 304,000 283,000
Total other expense (30,641,000) (31,139,000) (14,010,000)
INCOME (LOSS) BEFORE INCOME TAXES 49,332,000 52,004,000 23,749,000
INCOME TAXES 14,605,000 15,756,000 5,347,000
NET INCOME (LOSS) 34,727,000 36,248,000 18,402,000
Income (loss) attributable to noncontrolling interest 7,000 4,000 21,000
EARNINGS AVAILABLE TO FIRSTENERGY CORP. 34,720,000 36,244,000 18,381,000
TE | Affiliates
     
EXPENSES:      
Purchased power 94,351,000 180,523,000 392,825,000
TE | Non-Affiliates
     
EXPENSES:      
Purchased power 74,022,000 64,174,000 136,210,000
JCP&L
     
REVENUES:      
Electric utilities 2,445,000,000 2,976,000,000 2,944,000,000
Excise and gross receipts tax collections 50,000,000 51,000,000 49,000,000
Total revenues 2,495,000,000 3,027,000,000 2,993,000,000
EXPENSES:      
Purchased power 1,382,000,000 1,736,000,000 1,783,000,000
Other operating expenses 371,000,000 323,000,000 284,000,000
Pension and other postretirement benefits mark-to-market 60,000,000 26,000,000 37,000,000
Provision for depreciation 135,000,000 113,000,000 108,000,000
Amortization of regulatory assets, net 108,000,000 321,000,000 344,000,000
General taxes 67,000,000 65,000,000 63,000,000
Total expenses 2,123,000,000 2,584,000,000 2,619,000,000
OPERATING INCOME 372,000,000 443,000,000 374,000,000
OTHER INCOME (EXPENSE):      
Miscellaneous income (expense) 11,000,000 6,000,000 5,000,000
Interest expense (124,000,000) (120,000,000) (117,000,000)
Capitalized interest 2,000,000 1,000,000 1,000,000
Total other expense (111,000,000) (113,000,000) (111,000,000)
INCOME (LOSS) BEFORE INCOME TAXES 261,000,000 330,000,000 263,000,000
INCOME TAXES 117,000,000 147,000,000 105,000,000
NET INCOME (LOSS) 144,000,000 183,000,000 158,000,000
Met-Ed
     
REVENUES:      
Electric utilities 1,149,030,000 1,733,651,000 1,611,088,000
Excise and gross receipts tax collections 63,511,000 84,896,000 77,894,000
Total revenues 1,212,541,000 1,818,547,000 1,688,982,000
EXPENSES:      
Other operating expenses 171,236,000 401,016,000 259,135,000
Pension and other postretirement benefits mark-to-market 33,493,000 6,993,000 16,044,000
Provision for depreciation 60,831,000 55,792,000 54,652,000
Amortization of regulatory assets, net 92,450,000 160,360,000 244,709,000
General taxes 74,364,000 87,829,000 87,799,000
Total expenses 1,059,360,000 1,667,474,000 1,563,884,000
OPERATING INCOME 153,181,000 151,073,000 125,098,000
OTHER INCOME (EXPENSE):      
Interest income 121,000 3,019,000 9,709,000
Miscellaneous income (expense) 3,606,000 5,901,000 4,107,000
Interest expense (52,685,000) (52,829,000) (56,683,000)
Capitalized interest 486,000 653,000 181,000
Total other expense (48,472,000) (43,256,000) (42,686,000)
INCOME (LOSS) BEFORE INCOME TAXES 104,709,000 107,817,000 82,412,000
INCOME TAXES 36,820,000 47,733,000 28,875,000
NET INCOME (LOSS) 67,889,000 60,084,000 53,537,000
Met-Ed | Affiliates
     
EXPENSES:      
Purchased power 142,858,000 612,496,000 365,491,000
Met-Ed | Non-Affiliates
     
EXPENSES:      
Purchased power 484,128,000 342,988,000 536,054,000
Penelec
     
REVENUES:      
Electric utilities 1,026,342,000 1,471,956,000 1,385,574,000
Excise and gross receipts tax collections 54,852,000 67,915,000 63,372,000
Total revenues 1,081,194,000 1,539,871,000 1,448,946,000
EXPENSES:      
Other operating expenses 148,298,000 246,966,000 192,761,000
Pension and other postretirement benefits mark-to-market 41,127,000 8,279,000 33,983,000
Provision for depreciation 63,071,000 65,694,000 65,637,000
Amortization of regulatory assets, net 62,730,000 (34,819,000) 56,572,000
General taxes 66,001,000 73,285,000 73,839,000
Total expenses 921,689,000 1,367,204,000 1,308,927,000
OPERATING INCOME 159,505,000 172,667,000 140,019,000
OTHER INCOME (EXPENSE):      
Miscellaneous income (expense) 2,754,000 5,957,000 3,662,000
Interest expense (69,302,000) (69,864,000) (54,605,000)
Capitalized interest 214,000 770,000 230,000
Total other expense (66,334,000) (63,137,000) (50,713,000)
INCOME (LOSS) BEFORE INCOME TAXES 93,171,000 109,530,000 89,306,000
INCOME TAXES 30,098,000 46,340,000 38,508,000
NET INCOME (LOSS) 63,073,000 63,190,000 50,798,000
Penelec | Affiliates
     
EXPENSES:      
Purchased power 208,183,000 643,152,000 341,645,000
Penelec | Non-Affiliates
     
EXPENSES:      
Purchased power 332,279,000 364,647,000 544,490,000
Retained Earnings
     
OTHER INCOME (EXPENSE):      
EARNINGS AVAILABLE TO FIRSTENERGY CORP.   742,000,000 872,000,000
Retained Earnings | FES
     
OTHER INCOME (EXPENSE):      
NET INCOME (LOSS) (59,000,000) 231,000,000 498,000,000
Retained Earnings | OE
     
OTHER INCOME (EXPENSE):      
NET INCOME (LOSS) 128,000,000 155,000,000 119,000,000
Retained Earnings | CEI
     
OTHER INCOME (EXPENSE):      
EARNINGS AVAILABLE TO FIRSTENERGY CORP. 70,570,000 76,038,000 (30,471,000)
Retained Earnings | TE
     
OTHER INCOME (EXPENSE):      
EARNINGS AVAILABLE TO FIRSTENERGY CORP. 34,720,000 36,244,000 18,381,000
Retained Earnings | JCP&L
     
OTHER INCOME (EXPENSE):      
NET INCOME (LOSS) 144,000,000 183,000,000 158,000,000
Retained Earnings | Met-Ed
     
OTHER INCOME (EXPENSE):      
NET INCOME (LOSS) 67,889,000 60,084,000 53,537,000
Retained Earnings | Penelec
     
OTHER INCOME (EXPENSE):      
NET INCOME (LOSS) $ 63,073,000 $ 63,190,000 $ 50,798,000
[1] Includes $486 million, $428 million and $395 million of excise tax collections in 2011, 2010 and 2009, respectively.
[2] Includes 113 million shares issued to AE shareholders for the periods subsequent to the merger date (see Note 2, Merger).