Supplemental Guarantor Information

12 Months Ended

Dec. 31, 2011

Supplemental Guarantor Information [Abstract]

SUPPLEMENTAL GUARANTOR INFORMATION

SUPPLEMENTAL GUARANTOR INFORMATION

As discussed in Note 6, Leases FES has fully and unconditionally guaranteed all of FGCO’s obligations under each of the leases associated with Bruce Mansfield Unit 1. The Consolidating Statements of Income for the three years ended December 31, 2011, Consolidating Balance Sheets as of December 31, 2011, and December 31, 2010, and Condensed Consolidating Statements of Cash Flows for the three years ended December 31, 2011, for FES (parent and guarantor), FGCO and NGC (non-guarantor) are presented below and have been revised, as applicable, for the change in accounting for pensions and OPEB (see Note 1, Organization, Basis of Presentation and Significant Accounting Policies). Investments in wholly owned subsidiaries are accounted for by FES using the equity method. Results of operations for FGCO and NGC are, therefore, reflected in FES’ investment accounts and earnings as if operating lease treatment was achieved (see Note 6, Leases). The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions and the entries required to reflect operating lease treatment associated with the 2007 Bruce Mansfield Unit 1 sale and leaseback transaction.

FIRSTENERGY SOLUTIONS CORP.

CONSOLIDATING STATEMENTS OF INCOME

For the Year Ended December 31, 2011	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
REVENUES	$	5,387		$	2,666		$	1,647		$	(4,223	)	$	5,477
OPERATING EXPENSES:
Fuel	12			1,138			194			—			1,344
Purchased power from affiliates	4,208			5			252			(4,223		)	242
Purchased power from non-affiliates	1,378			—			—			—			1,378
Other operating expenses	574			427			578			51			1,630
Pensions and OPEB mark-to-market adjustment	10			68			93			—			171
Provision for depreciation	4			127			150			(6		)	275
General taxes	64			37			23			—			124
Impairment of long-lived assets	—			294			—			—			294
Total operating expenses	6,250			2,096			1,290			(4,178		)	5,458
OPERATING INCOME (LOSS)	(863		)	570			357			(45		)	19
OTHER INCOME (EXPENSE):
Investment income	1			—			56			—			57
Miscellaneous income, including net income from equity investees	924			24			—			(918		)	30
Interest expense — affiliates	(2		)	(3		)	(2		)	(1		)	(8		)
Interest expense — other	(94		)	(109		)	(64		)	64			(203		)
Capitalized interest	—			12			23			—			35
Total other income (expense)	829			(76		)	13			(855		)	(89		)
INCOME (LOSS) BEFORE INCOME TAXES	(34		)	494			370			(900		)	(70		)
INCOME TAXES (BENEFITS)	25			(112		)	58			18			(11		)
NET INCOME (LOSS)	$	(59	)	$	606		$	312		$	(918	)	$	(59	)

FIRSTENERGY SOLUTIONS CORP.

CONSOLIDATING STATEMENTS OF INCOME

For the Year Ended December 31, 2010	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
REVENUES	$	5,665		$	2,435		$	1,568		$	(3,840	)	$	5,828
OPERATING EXPENSES:
Fuel	31			1,200			172			—			1,403
Purchased power from affiliates	3,948			30			232			(3,839		)	371
Purchased power from non-affiliates	1,585			—			—			—			1,585
Other operating expenses	314			357			511			48			1,230
Pensions and OPEB mark-to-market adjustment	11			37			59			—			107
Provision for depreciation	3			100			148			(5		)	246
General taxes	24			42			28			—			94
Impairment of long-lived assets	—			388			—			—			388
Total operating expenses	5,916			2,154			1,150			(3,796		)	5,424
OPERATING INCOME (LOSS)	(251		)	281			418			(44		)	404
OTHER INCOME (EXPENSE):
Investment income	5			1			53			—			59
Miscellaneous income (expense), including net income from equity investees	453			1			—			(437		)	17
Interest expense — affiliates	—			(8		)	(2		)	—			(10		)
Interest expense — other	(96		)	(109		)	(65		)	64			(206		)
Capitalized interest	—			76			16			—			92
Total other income (expense)	362			(39		)	2			(373		)	(48		)
INCOME (LOSS) BEFORE INCOME TAXES	111			242			420			(417		)	356
INCOME TAXES (BENEFITS)	(120		)	74			153			18			125
NET INCOME (LOSS)	$	231		$	168		$	267		$	(435	)	$	231

FIRSTENERGY SOLUTIONS CORP.

CONSOLIDATING STATEMENTS OF INCOME

For the Year Ended December 31, 2009	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
REVENUES	$	4,390		$	2,216		$	1,361		$	(3,239	)	$	4,728
OPERATING EXPENSES:
Fuel	18			973			138			—			1,129
Purchased power from affiliates	3,221			18			222			(3,239		)	222
Purchased power from non-affiliates	996			—			—			—			996
Other operating expenses	220			377			497			49			1,143
Pensions and OPEB mark-to-market adjustment	13			56			81			—			150
Provision for depreciation	4			122			142			(6		)	262
General taxes	18			45			24			—			87
Impairment of long-lived assets	—			6			—			—			6
Total operating expenses	4,490			1,597			1,104			(3,196		)	3,995
OPERATING INCOME (LOSS)	(100		)	619			257			(43		)	733
OTHER INCOME (EXPENSE):
Investment income	5			—			120			—			125
Miscellaneous income (expense), including net income from equity investees	585			2			—			(574		)	13
Interest expense to affiliates	—			(6		)	(4		)	—			(10		)
Interest expense — other	(44		)	(99		)	(62		)	63			(142		)
Capitalized interest	—			50			10			—			60
Total other income (expense)	546			(53		)	64			(511		)	46
INCOME (LOSS) BEFORE INCOME TAXES	446			566			321			(554		)	779
INCOME TAXES (BENEFITS)	(52		)	196			117			20			281
NET INCOME (LOSS)	$	498		$	370		$	204		$	(574	)	$	498

FIRSTENERGY SOLUTIONS CORP.

CONSOLIDATING BALANCE SHEETS

As of December 31, 2011	FES		FGCO		NGC		Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—	$	7	$	—	$	—		$	7
Receivables-
Customers	424		—		—		—			424
Associated companies	476		643		262		(781		)	600
Other	28		20		13		—			61
Notes receivable from associated companies	155		1,346		69		(1,187		)	383
Materials and supplies, at average cost	60		232		200		—			492
Derivatives	219		—		—		—			219
Prepayments and other	11		26		1		—			38
	1,373		2,274		545		(1,968		)	2,224
PROPERTY, PLANT AND EQUIPMENT:
In service	84		5,573		5,711		(385		)	10,983
Less — Accumulated provision for depreciation	28		1,813		2,449		(180		)	4,110
	56		3,760		3,262		(205		)	6,873
Construction work in progress	29		195		790		—			1,014
	85		3,955		4,052		(205		)	7,887
INVESTMENTS:
Nuclear plant decommissioning trusts	—		—		1,223		—			1,223
Investment in associated companies	5,716		—		—		(5,716		)	—
Other	—		7		—		—			7
	5,716		7		1,223		(5,716		)	1,230
DEFERRED CHARGES AND OTHER ASSETS:
Accumulated deferred income tax benefits	10		307		—		(317		)	—
Customer intangibles	123		—		—		—			123
Goodwill	24		—		—		—			24
Property taxes	—		20		23		—			43
Unamortized sale and leaseback costs	—		5		—		75			80
Derivatives	118		—		—		—			118
Other	50		99		3		(62		)	90
	325		431		26		(304		)	478
	$	7,499	$	6,667	$	5,846	$	(8,193	)	$	11,819
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Currently payable long-term debt	$	1	$	411	$	513	$	(20	)	$	905
Short-term borrowings-
Associated companies	1,065		89		32		(1,186		)	—
Accounts payable-
Associated companies	777		228		211		(780		)	436
Other	99		121		—		—			220
Accrued taxes	84		42		110		(9		)	227
Derivatives	189		—		—		—			189
Other	62		141		16		42			261
	2,277		1,032		882		(1,953		)	2,238
CAPITALIZATION:
Total equity	3,593		3,097		2,587		(5,700		)	3,577
Long-term debt and other long-term obligations	1,483		1,905		641		(1,230		)	2,799
	5,076		5,002		3,228		(6,930		)	6,376
NONCURRENT LIABILITIES:
Deferred gain on sale and leaseback transaction	—		—		—		925			925
Accumulated deferred income taxes	12		—		510		(236		)	286
Asset retirement obligations	—		28		876		—			904
Retirement benefits	56		300		—		—			356
Lease market valuation liability	—		171		—		—			171
Other	78		134		350		1			563
	146		633		1,736		690			3,205
	$	7,499	$	6,667	$	5,846	$	(8,193	)	$	11,819

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2010	FES		FGCO		NGC		Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—	$	9	$	—	$	—		$	9
Receivables-
Customers	366		—		—		—			366
Associated companies	333		357		126		(338		)	478
Other	21		56		13		—			90
Notes receivable from associated companies	34		189		174		—			397
Materials and supplies, at average cost	41		276		228		—			545
Derivatives	181		—		—		—			181
Prepayments and other	48		11		1		—			60
	1,024		898		542		(338		)	2,126
PROPERTY, PLANT AND EQUIPMENT:
In service	99		6,214		5,499		(385		)	11,427
Less — Accumulated provision for depreciation	18		2,022		2,173		(175		)	4,038
	81		4,192		3,326		(210		)	7,389
Construction work in progress	9		520		534		—			1,063
	90		4,712		3,860		(210		)	8,452
INVESTMENTS:
Nuclear plant decommissioning trusts	—		—		1,146		—			1,146
Investment in associated companies	4,773		—		—		(4,773		)	—
Other	—		12		—		—			12
	4,773		12		1,146		(4,773		)	1,158
DEFERRED CHARGES AND OTHER ASSETS:
Accumulated deferred income taxes	42		407		—		(449		)	—
Customer intangibles	134		—		—		—			134
Goodwill	24		—		—		—			24
Property taxes	—		16		25		—			41
Unamortized sale and leaseback costs	—		10		—		63			73
Derivatives	98		—		—		—			98
Other	22		70		14		(57		)	49
	320		503		39		(443		)	419
	$	6,207	$	6,125	$	5,587	$	(5,764	)	$	12,155
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Currently payable long-term debt	$	101	$	419	$	632	$	(20	)	$	1,132
Short-term borrowings-
Associated companies	—		12		—		—			12
Accounts payable-
Associated companies	351		213		250		(348		)	466
Other	139		102		—		—			241
Accrued taxes	3		36		31		—			70
Derivatives	266		—		—		—			266
Other	52		148		15		37			252
	912		930		928		(331		)	2,439
CAPITALIZATION:
Common stockholder’s equity	3,619		2,495		2,265		(4,760		)	3,619
Long-term debt and other long-term obligations	1,519		2,119		793		(1,250		)	3,181
	5,138		4,614		3,058		(6,010		)	6,800
NONCURRENT LIABILITIES:
Deferred gain on sale and leaseback transaction	—		—		—		959			959
Accumulated deferred income taxes	—		—		449		(382		)	67
Asset retirement obligations	—		27		865		—			892
Retirement benefits	48		237		—		—			285
Lease market valuation liability	—		217		—		—			217
Other	109		100		287		—			496
	157		581		1,601		577			2,916
	$	6,207	$	6,125	$	5,587	$	(5,764	)	$	12,155

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Year Ended December 31, 2011	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR) OPERATING ACTIVITIES	$	(790	)	$	926		$	702		$	(19	)	$	819
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Long-term debt	—			140			107			—			247
Short-term borrowings, net	1,065			78			32			(1,186		)	(11		)
Redemptions and Repayments-
Long-term debt	(136		)	(362		)	(377		)	19			(856		)
Short-term borrowings, net	—			—			—			—			—
Other	(9		)	(1		)	(1		)	—			(11		)
Net cash used for financing activities	920			(145		)	(239		)	(1,167		)	(631		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions	(24		)	(205		)	(520		)	—			(749		)
Proceeds from asset sales	9			590			—			—			599
Sales of investment securities held in trusts	—			—			1,843			—			1,843
Purchases of investment securities held in trusts	—			—			(1,890		)	—			(1,890		)
Loans to associated companies, net	(120		)	(1,157		)	105			1,186			14
Customer acquisition costs	(3		)	—			—			—			(3		)
Other	8			(11		)	(1		)	—			(4		)
Net cash used for investing activities	(130		)	(783		)	(463		)	1,186			(190		)
Net change in cash and cash equivalents	—			(2		)	—			—			(2		)
Cash and cash equivalents at beginning of period	—			9			—			—			9
Cash and cash equivalents at end of period	$	—		$	7		$	—		$	—		$	7

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Year Ended December 31, 2010	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR) OPERATING ACTIVITIES	$	(260	)	$	380		$	685		$	(19	)	$	786
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Long-term debt	—			318			397			—			715
Short-term borrowings, net	—			2			—			—			2
Redemptions and Repayments-
Long-term debt	(1		)	(341		)	(449		)	19			(772		)
Other	—			(1		)	(1		)	—			(2		)
Net cash used for financing activities	(1		)	(22		)	(53		)	19			(57		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions	(9		)	(518		)	(508		)	—			(1,035		)
Proceeds from asset sales	—			117			—			—			117
Sales of investment securities held in trusts	—			—			1,927			—			1,927
Purchases of investment securities held in trusts	—			—			(1,974		)	—			(1,974		)
Loans to associated companies, net	382			52			(26		)	—			408
Customer acquisition costs	(113		)	—			—			—			(113		)
Leasehold improvement payments to associated companies	—			—			(51		)	—			(51		)
Other	1			—			—			—			1
Net cash provided from (used for) investing activities	261			(349		)	(632		)	—			(720		)
Net change in cash and cash equivalents	—			9			—			—			9
Cash and cash equivalents at beginning of period	—			—			—			—			—
Cash and cash equivalents at end of period	$	—		$	9		$	—		$	—		$	9

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Year Ended December 31, 2009	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR)OPERATING ACTIVITIES	$	(20	)	$	790		$	622		$	(18	)	$	1,374
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Long-term debt	1,498			577			363			—			2,438
Equity contributions from parent	—			100			150			(250		)	—
Redemptions and Repayments-
Long-term debt	(2		)	(321		)	(404		)	18			(709		)
Short-term borrowings, net	(901		)	(248		)	(7		)	—			(1,156		)
Other	(12		)	(6		)	(3		)	—			(21		)
Net cash provided from financing activities	583			102			99			(232		)	552
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions	(4		)	(672		)	(547		)	—			(1,223		)
Proceeds from asset sales	—			18			—			—			18
Sales of investment securities held in trusts	—			—			1,379			—			1,379
Purchases of investment securities held in trusts	—			—			(1,406		)	—			(1,406		)
Loans to associated companies, net	(309		)	(219		)	(148		)	—			(676		)
Investment in subsidiary	(250		)	—			—			250			—
Other	—			(19		)	1			—			(18		)
Net cash used for investing activities	(563		)	(892		)	(721		)	250			(1,926		)
Net change in cash and cash equivalents	—			—			—			—			—
Cash and cash equivalents at beginning of period	—			—			—			—			—
Cash and cash equivalents at end of period	$	—		$	—		$	—		$	—		$	—