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Consolidated Statements of Income (Unaudited) (FirstEnergy Corp.) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
REVENUES:        
Electric utilities $ 2,279 $ 2,590 $ 4,790 $ 4,925
Unregulated businesses 1,590 1,470 3,157 2,711
Total revenues 3,869 [1] 4,060 [1] 7,947 [1] 7,636 [1]
OPERATING EXPENSES:        
Fuel 656 635 1,197 1,088
Purchased power 1,156 1,220 2,503 2,406
Other operating expenses 914 1,065 1,726 2,058
Provision for depreciation 292 287 577 512
Amortization of regulatory assets, net 62 90 137 222
General taxes 232 242 504 479
Total operating expenses 3,312 3,539 6,644 6,765
OPERATING INCOME (LOSS) 557 521 1,303 871
OTHER INCOME (EXPENSE):        
Investment income 13 31 24 52
Interest expense (274) (265) (520) (496)
Capitalized interest 19 20 36 38
Total other income (expense) (242) (214) (460) (406)
INCOME BEFORE INCOME TAXES 315 307 843 465
INCOME TAXES (BENEFITS) 127 114 349 225
NET INCOME 188 193 494 240
Income (loss) attributable to noncontrolling interest 1 (10) 1 (15)
EARNINGS AVAILABLE TO FIRSTENERGY CORP. $ 187 $ 203 $ 493 $ 255
EARNINGS PER SHARE OF COMMON STOCK:        
Basic, in dollars per share $ 0.45 $ 0.48 $ 1.18 $ 0.67
Diluted, in dollars per share $ 0.45 $ 0.48 $ 1.18 $ 0.67
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:        
Basic, in shares 417 418 418 380
Diluted, in shares 419 420 419 382
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK $ 0 $ 0 $ 0.55 $ 0.55
[1] Includes excise tax collections of $107 million and $116 million in the three months ended June 30, 2012 and 2011, respectively, and $228 million and $235 million in the six months ended June 30, 2012 and 2011, respectively.