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Consolidated Statements of Income and Comprehensive Income (Unaudited) (Jersey Central Power & Light Company) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
REVENUES:        
Excise and gross receipts tax collections $ 107 $ 116 $ 228 $ 235
Total revenues 2,279 2,590 4,790 4,925
OPERATING EXPENSES:        
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):        
Interest expense (274) (265) (520) (496)
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
STATEMENTS OF COMPREHENSIVE INCOME        
NET INCOME 188 193 494 240
OTHER COMPREHENSIVE INCOME (LOSS):        
Pension and OPEB prior service costs (48) 48 (101) 4
Other comprehensive income (loss) (43) 75 (88) 34
Income taxes (benefits) on other comprehensive income (loss) (27) 33 (51) 14
Other comprehensive income (loss), net of tax (16) 42 (37) 20
COMPREHENSIVE INCOME 172 235 457 260
JCP&L
       
REVENUES:        
Electric sales 476 577 954 1,211
Excise and gross receipts tax collections 8 11 18 24
Total revenues 484 588 972 1,235
OPERATING EXPENSES:        
Purchased power 254 328 518 698
Other operating expenses 81 73 162 153
Provision for depreciation 32 28 62 54
Amortization of regulatory assets, net 8 40 28 122
General taxes 12 15 27 33
Total operating expenses 387 484 797 1,060
OPERATING INCOME (LOSS) 97 104 175 175
OTHER INCOME (EXPENSE):        
Miscellaneous income 1 3 2 5
Interest expense (30) (31) (61) (61)
Capitalized interest 1 1 1 1
Total other income (expense) (28) (27) (58) (55)
INCOME BEFORE INCOME TAXES 69 77 117 120
INCOME TAXES (BENEFITS) 30 32 52 52
NET INCOME 39 45 65 68
STATEMENTS OF COMPREHENSIVE INCOME        
NET INCOME 39 45 65 68
OTHER COMPREHENSIVE INCOME (LOSS):        
Pension and OPEB prior service costs (6) (6) (12) (12)
Other comprehensive income (loss) (6) (6) (12) (12)
Income taxes (benefits) on other comprehensive income (loss) (3) (3) (7) (5)
Other comprehensive income (loss), net of tax (3) (3) (5) (7)
COMPREHENSIVE INCOME $ 36 $ 42 $ 60 $ 61