Organization, Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies (Tables) [Abstract]

Regulatory assets on the Balance Sheets

The following table provides information about the composition of net regulatory assets as ofDecember 31, 2012andDecember 31, 2011, and the changes during the year endedDecember 31, 2012:

Regulatory Assets by Source	December 31, 2012			December 31, 2011			Increase (Decrease)
	(In millions)
Regulatory transition costs	$	281		$	309		$	(28	)
Customer receivables for future income taxes	508			519			(11		)
Nuclear decommissioning and spent fuel disposal costs	(219		)	(210		)	(9		)
Asset removal costs	(372		)	(347		)	(25		)
Deferred transmission costs	390			340			50
Deferred generation costs	379			400			(21		)
Deferred distribution costs	231			267			(36		)
Contract valuations	463			299			164
Storm-related costs	509			144			365
Other	205			309			(104		)
Total	$	2,375		$	2,030		$	345

Receivables from customers

Billed and unbilled customer receivables as of December 31, 2012 and 2011 are shown below.

Customer Receivables	FirstEnergy		FES		OE		JCP&L
	(In millions)
December 31, 2012
Billed	$	893	$	243	$	96	$	124
Unbilled	721		240		80		97
Total	$	1,614	$	483	$	176	$	221
December 31, 2011
Billed	$	800	$	220	$	67	$	117
Unbilled	725		204		96		118
Total	$	1,525	$	424	$	163	$	235

Reconciliation of basic and diluted earnings per share

The following table reconciles basic and diluted earnings per share of common stock:

Reconciliation of Basic and Diluted Earnings per Share of Common Stock	2012		2011		2010
	(In millions, except per share amounts)
Weighted average number of basic shares outstanding	418		399		304
Assumed exercise of dilutive stock options and awards(1)	1		2		1
Weighted average number of diluted shares outstanding	419		401		305
Earnings available to FirstEnergy Corp.	$	770	$	885	$	742
Basic earnings per share of common stock	$	1.85	$	2.22	$	2.44
Diluted earnings per share of common stock	$	1.84	$	2.21	$	2.42

⁽¹⁾  The number of potentially dilutive securities not included in the calculation of diluted shares outstanding due to their antidilutive effect were not significant for the years ending December 31, 2012, 2011 or 2010.

Property, plant and equipment balances

Property, plant and equipment balances as of December 31, 2012 and 2011 were as follows:

	December 31, 2012									December 31, 2011
Property, Plant and Equipment	Unregulated			Regulated			Total			Unregulated			Regulated			Total
	(In millions)
In service	$	16,658		$	26,552		$	43,210		$	15,472		$	24,650		$	40,122
Less - Accumulated depreciation	(4,870		)	(7,730		)	(12,600		)	(4,424		)	(7,415		)	(11,839		)
Net plant in service	$	11,788		$	18,822		$	30,610		$	11,048		$	17,235		$	28,283

Annual composite rates

The respective annual composite rates for FirstEnergy’s subsidiaries’ electric plant in 2012, 2011 and 2010 are shown in the following table:

	Annual Composite Depreciation Rate
	2012		2011		2010
FG	3.0	%	3.1	%	4.0	%
NG	2.5	%	3.2	%	3.1	%
OE	2.9	%	2.9	%	2.9	%
JCP&L	2.1	%	2.1	%	2.2	%

Summary of changes in goodwill

Total goodwill recognized by segment in FirstEnergy's Consolidated Balance Sheet is as follows:

Goodwill	Regulated Distribution			Regulated Transmission		Competitive Energy Services		Other/Corporate		Consolidated
	(In millions)
Balance as of December 31, 2011	$	5,551		$	—	$	890	$	—	$	6,441
Purchase Accounting Adjustment	—			—		6		—		6
Segment Reorganization(1)	(526		)	526		—		—		—
Balance as of December 31, 2012	$	5,025		$	526	$	896	$	—	$	6,447

⁽¹⁾  Note 18, Segment Information discusses the modification of reporting segments that occurred during 2012 that resulted in the transfer of goodwill from Regulated Distribution to Regulated Transmission.

AOCI, net of tax

AOCI, net of tax, included on FirstEnergy’s, FES’, OE's and JCP&L's Consolidated Balance Sheets as of December 31, 2012 and 2011, is comprised of the following:

Accumulated Other Comprehensive Income	FirstEnergy			FES		OE		JCP&L
	(In millions)
Net liability for unfunded retirement benefits	$	408		$	56	$	45	$	33
Unrealized gain on investments	15			13		—		—
Unrealized gain (loss) on derivative hedges	(38		)	3		—		(1		)
Balance, December 31, 2012	$	385		$	72	$	45	$	32
Net liability for unfunded retirement benefits	$	446		$	52	$	54	$	40
Unrealized gain on investments	19			16		—		—
Unrealized gain (loss) on derivative hedges	(39		)	8		—		(1		)
Balance, December 31, 2011	$	426		$	76	$	54	$	39

Other comprehensive income (loss) reclassified to net income

OCI reclassified to net income during the three years ended December 31, 2012, 2011 and 2010 is shown in the following table.

	FirstEnergy			FES			OE		JCP&L
	(In millions)
2012
Pensions and OPEB	$	191		$	20		$	29	$	24
Gain on investments	72			65			—		—
Gain on derivative hedges	—			9			—		—
	263			94			29		24
Income taxes related to reclassification to net income	101			35			11		10
Reclassification to net income	$	162		$	59		$	18	$	14
2011
Pensions and OPEB	$	169		$	18		$	28	$	25
Gain on investments	59			51			6		—
Loss on derivative hedges	(38		)	(32		)	—		—
	190			37			34		25
Income taxes related to reclassification to net income	72			14			12		10
Reclassification to net income	$	118		$	23		$	22	$	15
2010
Pensions and OPEB	$	87		$	46		$	23	$	5
Gain on investments	54			50			2		—
Loss on derivative hedges	(35		)	(24		)	—		—
	106			72			25		5
Income taxes related to reclassification to net income	40			26			9		3
Reclassification to net income	$	66		$	46		$	16	$	2