Supplemental Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2011

Supplemental Guarantor Information [Abstract]

Condensed Consolidating Statements of Income

For the Three Months Ended June 30, 2011	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
REVENUES	$	1,275		$	535		$	393		$	(911	)	$	1,292
EXPENSES:
Fuel		6			266			44			—			316
Purchased power from affiliates		902			9			65			(911	)		65
Purchased power from non-affiliates		332			(3	)		—			—			329
Other operating expenses		159			115			143			12			429
Provision for depreciation		1			32			36			(1	)		68
General taxes		16			8			6			—			30
Impairment of long-lived assets		—			7			—			—			7
Total expenses		1,416			434			294			(900	)		1,244
OPERATING INCOME (LOSS)		(141	)		101			99			(11	)		48
OTHER INCOME (EXPENSE):
Investment income		—			1			15			—			16
Miscellaneous income (expense), including net income from equity investees		123			1			—			(120	)		4
Interest expense — affiliates		—			(1	)		(1	)		—			(2	)
Interest expense — other		(24	)		(28	)		(16	)		16			(52	)
Capitalized interest		—			5			5			—			10
Total other income (expense)		99			(22	)		3			(104	)		(24	)
INCOME (LOSS) BEFORE INCOME TAXES		(42	)		79			102			(115	)		24
INCOME TAXES (BENEFITS)		(62	)		25			38			3			4
NET INCOME	$	20		$	54		$	64		$	(118	)	$	20

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(Unaudited)

For the Six Months Ended June 30, 2011	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
REVENUES	$	2,642		$	1,278		$	862		$	(2,098	)	$	2,684
EXPENSES:
Fuel		7			560			92			—			659
Purchased power from affiliates		2,087			11			134			(2,098	)		134
Purchased power from non-affiliates		629			(3	)		—			—			626
Other operating expenses		321			233			331			25			910
Provision for depreciation		2			63			74			(3	)		136
General taxes		27			19			14			—			60
Impairment charges of long-lived assets		—			20			—			—			20
Total expenses		3,073			903			645			(2,076	)		2,545
OPERATING INCOME (LOSS)		(431	)		375			217			(22	)		139
OTHER INCOME (EXPENSE):
Investment income		1			1			20			—			22
Miscellaneous income, including net income from equity investees		356			2			—			(350	)		8
Interest expense — affiliates		(1	)		(1	)		(1	)		—			(3	)
Interest expense — other		(48	)		(56	)		(33	)		32			(105	)
Capitalized interest		—			10			10			—			20
Total other income (expense)		308			(44	)		(4	)		(318	)		(58	)
INCOME (LOSS) BEFORE INCOME TAXES		(123	)		331			213			(340	)		81
INCOME TAXES (BENEFITS)		(179	)		119			80			5			25
NET INCOME	$	56		$	212		$	133		$	(345	)	$	56

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(Unaudited)

For the Three Months Ended June 30, 2010	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
REVENUES	$	1,307		$	581		$	339		$	(901	)	$	1,326
EXPENSES:
Fuel		7			302			34			—			343
Purchased power from affiliates		913			8			49			(901	)		69
Purchased power from non-affiliates		310			—			—			—			310
Other operating expenses		81			94			117			12			304
Provision for depreciation		1			27			36			(1	)		63
General taxes		6			9			7			—			22
Total expenses		1,318			440			243			(890	)		1,111
OPERATING INCOME (LOSS)		(11	)		141			96			(11	)		215
OTHER INCOME (EXPENSE):
Investment income		2			—			11			—			13
Miscellaneous income, including net income from equity investees		151			1			—			(148	)		4
Interest expense — affiliates		—			(2	)		—			—			(2	)
Interest expense — other		(24	)		(28	)		(15	)		16			(51	)
Capitalized interest		—			20			4			—			24
Total other income (expense)		129			(9	)		—			(132	)		(12	)
INCOME BEFORE INCOME TAXES		118			132			96			(143	)		203
INCOME TAXES (BENEFITS)		(16	)		48			34			3			69
NET INCOME	$	134		$	84		$	62		$	(146	)	$	134

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(Unaudited)

For the Six Months Ended June 30, 2010	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
REVENUES	$	2,674		$	1,149		$	765		$	(1,874	)	$	2,714
EXPENSES:
Fuel		12			582			77			—			671
Purchased power from affiliates		1,881			12			111			(1,874	)		130
Purchased power from non-affiliates		760			—			—			—			760
Other operating expenses		134			194			256			24			608
Provision for depreciation		2			54			73			(3	)		126
General taxes		11			24			14			—			49
Impairment of long-lived assets		—			2			—			—			2
Total expenses		2,800			868			531			(1,853	)		2,346
OPERATING INCOME (LOSS)		(126	)		281			234			(21	)		368
OTHER INCOME (EXPENSE):
Investment income		4			—			10			—			14
Miscellaneous income, including net income from equity investees		317			1			—			(311	)		7
Interest expense to affiliates		—			(4	)		(1	)		—			(5	)
Interest expense — other		(48	)		(54	)		(31	)		32			(101	)
Capitalized interest		—			36			8			—			44
Total other income (expense)		273			(21	)		(14	)		(279	)		(41	)
INCOME BEFORE INCOME TAXES		147			260			220			(300	)		327
INCOME TAXES (BENEFITS)		(67	)		97			78			5			113
NET INCOME	$	214		$	163		$	142		$	(305	)	$	214

Condensed Consolidating Balance Sheets

As of June 30, 2011	FES		FGCO		NGC		Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—	$	6	$	—	$	—		$	6
Receivables-
Customers		450		—		—		—			450
Associated companies		481		425		263		(679	)		490
Other		24		23		4		—			51
Notes receivable from associated companies		6		410		74		—			490
Materials and supplies, at average cost		54		253		192		—			499
Derivatives		221		—		—		—			221
Prepayments and other		34		14		1		—			49
		1,270		1,131		534		(679	)		2,256
PROPERTY, PLANT AND EQUIPMENT:
In service		101		6,105		5,634		(385	)		11,455
Less — Accumulated provision for depreciation		19		2,067		2,298		(178	)		4,206
		82		4,038		3,336		(207	)		7,249
Construction work in progress		10		198		486		—			694
Property, plant and equipment held for sale, net		—		487		—		—			487
		92		4,723		3,822		(207	)		8,430
INVESTMENTS:
Nuclear plant decommissioning trusts		—		—		1,184		—			1,184
Investment in associated companies		5,302		—		—		(5,302	)		—
Other		1		9		—		—			10
		5,303		9		1,184		(5,302	)		1,194
DEFERRED CHARGES AND OTHER ASSETS:
Accumulated deferred income tax benefits		18		344		—		(362	)		—
Customer intangibles		129		—		—		—			129
Goodwill		24		—		—		—			24
Property taxes		—		16		25		—			41
Unamortized sale and leaseback costs		—		6		—		70			76
Derivatives		135		—		—		—			135
Other		39		97		7		(68	)		75
		345		463		32		(360	)		480
	$	7,010	$	6,326	$	5,572	$	(6,548	)	$	12,360
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Currently payable long-term debt	$	1	$	436	$	671	$	(20	)	$	1,088
Short-term borrowings-
Associated companies		453		88		—		—			541
Other		—		1		—		—			1
Accounts payable-
Associated companies		665		231		165		(668	)		393
Other		80		111		—		—			191
Derivatives		242		—		—		—			242
Other		69		137		46		10			262
		1,510		1,004		882		(678	)		2,718
CAPITALIZATION:
Total equity		3,858		2,728		2,556		(5,285	)		3,857
Long-term debt and other long-term obligations		1,483		2,050		706		(1,239	)		3,000
		5,341		4,778		3,262		(6,524	)		6,857
NONCURRENT LIABILITIES:
Deferred gain on sale and leaseback transaction		—		—		—		942			942
Accumulated deferred income taxes		—		—		504		(288	)		216
Asset retirement obligations		—		28		847		—			875
Retirement benefits		50		245		—		—			295
Lease market valuation liability		—		194		—		—			194
Derivatives		85		—		—		—			85
Other		24		77		77		—			178
		159		544		1,428		654			2,785
	$	7,010	$	6,326	$	5,572	$	(6,548	)	$	12,360

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING BALANCE SHEETS
(Unaudited)

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		182		—		—		—			182
Prepayments and other		48		10		1		—			59
		1,025		897		542		(338	)		2,126
PROPERTY, PLANT AND EQUIPMENT:
In service		96		6,198		5,412		(385	)		11,321
Less — Accumulated provision for depreciation		17		2,020		2,162		(175	)		4,024
		79		4,178		3,250		(210	)		7,297
Construction work in progress		9		520		534		—			1,063
		88		4,698		3,784		(210	)		8,360
INVESTMENTS:
Nuclear plant decommissioning trusts		—		—		1,146		—			1,146
Investment in associated companies		4,942		—		—		(4,942	)		—
Other		—		12		—		—			12
		4,942		12		1,146		(4,942	)		1,158
DEFERRED CHARGES AND OTHER ASSETS:
Accumulated deferred income tax benefits		43		412		—		(455	)		—
Customer intangibles		134		—		—		—			134
Goodwill		24		—		—		—			24
Property taxes		—		16		25		—			41
Unamortized sale and leaseback costs		—		10		—		63			73
Derivatives		98		—		—		—			98
Other		21		71		14		(58	)		48
		320		509		39		(450	)		418
	$	6,375	$	6,116	$	5,511	$	(5,940	)	$	12,062
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		(347	)		467
Other		139		102		—		—			241
Derivatives		266		—		—		—			266
Other		56		183		46		37			322
		913		929		928		(330	)		2,440
CAPITALIZATION:
Common stockholder’s equity		3,788		2,515		2,414		(4,929	)		3,788
Long-term debt and other long-term obligations		1,519		2,119		793		(1,250	)		3,181
		5,307		4,634		3,207		(6,179	)		6,969
NONCURRENT LIABILITIES:
Deferred gain on sale and leaseback transaction		—		—		—		959			959
Accumulated deferred income taxes		—		—		448		(390	)		58
Asset retirement obligations		—		27		865		—			892
Retirement benefits		48		237		—		—			285
Lease market valuation liability		—		217		—		—			217
Derivatives		81		—		—		—			81
Other		26		72		63		—			161
		155		553		1,376		569			2,653
	$	6,375	$	6,116	$	5,511	$	(5,940	)	$	12,062

Condensed Consolidating Statements of Cash Flows

For the Six Months Ended June 30, 2011	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR) OPERATING ACTIVITIES	$	(329	)	$	321		$	200		$	(10	)	$	182
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Long-term debt		—			140			107			—			247
Short-term borrowings, net		453			77			—			—			530
Redemptions and Repayments-
Long-term debt		(135	)		(192	)		(155	)		10			(472	)
Other		(9	)		(1	)		(1	)		—			(11	)
Net cash provided from (used for) financing activities		309			24			(49	)		10			294
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions		(6	)		(109	)		(219	)		—			(334	)
Sales of investment securities held in trusts		—			—			513			—			513
Purchases of investment securities held in trusts		—			—			(545	)		—			(545	)
Loans to associated companies, net		28			(221	)		100			—			(93	)
Customer acquisition costs		(2	)		—			—			—			(2	)
Other		—			(18	)		—			—			(18	)
Net cash provided from (used for) investing activities		20			(348	)		(151	)		—			(479	)
Net change in cash and cash equivalents		—			(3	)		—			—			(3	)
Cash and cash equivalents at beginning of period		—			9			—			—			9
Cash and cash equivalents at end of period	$	—		$	6		$	—		$	—		$	6

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Unaudited)

For the Six Months Ended June 30, 2010	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR) OPERATING ACTIVITIES	$	(223	)	$	163		$	287		$	(9	)	$	218
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Short-term borrowings, net		—			76			—			—			76
Redemptions and Repayments-
Long-term debt		—			(261	)		(43	)		9			(295	)
Other		(1	)		—			—			—			(1	)
Net cash used for financing activities		(1	)		(185	)		(43	)		9			(220	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions		(4	)		(333	)		(229	)		—			(566	)
Proceeds from asset sales		—			116			—			—			116
Sales of investment securities held in trusts		—			—			957			—			957
Purchases of investment securities held in trusts		—			—			(979	)		—			(979	)
Loans to associated companies, net		332			241			58			—			631
Customer acquisition costs		(105	)		—			—			—			(105	)
Leasehold improvement payments to associated companies		—			—			(51	)		—			(51	)
Other		1			(2	)		—			—			(1	)
Net cash provided from (used for) investing activities		224			22			(244	)		—			2
Net change in cash and cash equivalents		—			—			—			—			—
Cash and cash equivalents at beginning of period		—			—			—			—			—
Cash and cash equivalents at end of period	$	—		$	—		$	—		$	—		$	—