Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2012

Supplemental Guarantor Information [Abstract]

Condensed Consolidating Statements of Income and Comprehensive Income

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

For the Three Months Ended September 30, 2012	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
STATEMENTS OF INCOME
REVENUES	$	1,523		$	617		$	395		$	(978	)	$	1,557
OPERATING EXPENSES:
Fuel	—			248			55			—			303
Purchased power from affiliates	1,042			—			67			(978		)	131
Purchased power from non-affiliates	499			—			—			—			499
Other operating expenses	130			79			122			12			343
Provision for depreciation	1			30			41			(1		)	71
General taxes	20			10			5			—			35
Total operating expenses	1,692			367			290			(967		)	1,382
OPERATING INCOME (LOSS)	(169		)	250			105			(11		)	175
OTHER INCOME (EXPENSE):
Investment income	1			5			37			(5		)	38
Miscellaneous income, including net income from equity investees	317			—			—			(316		)	1
Interest expense — affiliates	(5		)	(2		)	(1		)	5			(3		)
Interest expense — other	(25		)	(27		)	(15		)	16			(51		)
Capitalized interest	—			1			8			—			9
Total other income (expense)	288			(23		)	29			(300		)	(6		)
INCOME BEFORE INCOME TAXES	119			227			134			(311		)	169
INCOME TAXES (BENEFITS)	18			(11		)	59			2			68
NET INCOME	$	101		$	238		$	75		$	(313	)	$	101
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$	101		$	238		$	75		$	(313	)	$	101
OTHER COMPREHENSIVE LOSS:
Pensions and OPEB prior service costs	(5		)	(4		)	—			4			(5		)
Amortized loss on derivative hedges	(2		)	—			—			—			(2		)
Change in unrealized gain on available for sale securities	(2		)	—			(1		)	1			(2		)
Other comprehensive loss	(9		)	(4		)	(1		)	5			(9		)
Income tax benefits on other comprehensive loss	(3		)	(2		)	—			2			(3		)
Other comprehensive loss, net of tax	(6		)	(2		)	(1		)	3			(6		)
COMPREHENSIVE INCOME	$	95		$	236		$	74		$	(310	)	$	95

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

For the Nine Months Ended September 30, 2012	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
STATEMENTS OF INCOME
REVENUES	$	4,443		$	1,795		$	1,262		$	(2,971	)	$	4,529
OPERATING EXPENSES:
Fuel	—			824			154			—			978
Purchased power from affiliates	3,163			—			189			(2,971		)	381
Purchased power from non-affiliates	1,420			—			—			—			1,420
Other operating expenses	313			271			410			37			1,031
Provision for depreciation	3			90			114			(4		)	203
General taxes	60			28			16			—			104
Total operating expenses	4,959			1,213			883			(2,938		)	4,117
OPERATING INCOME (LOSS)	(516		)	582			379			(33		)	412
OTHER INCOME (EXPENSE):
Investment income	2			14			49			(15		)	50
Miscellaneous income, including net income from equity investees	854			19			—			(848		)	25
Interest expense — affiliates	(14		)	(5		)	(3		)	15			(7		)
Interest expense — other	(72		)	(79		)	(36		)	47			(140		)
Capitalized interest	—			3			24			—			27
Total other income (expense)	770			(48		)	34			(801		)	(45		)
INCOME BEFORE INCOME TAXES	254			534			413			(834		)	367
INCOME TAXES (BENEFITS)	32			(19		)	124			8			145
NET INCOME	$	222		$	553		$	289		$	(842	)	$	222
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$	222		$	553		$	289		$	(842	)	$	222
OTHER COMPREHENSIVE INCOME
Pensions and OPEB prior service costs	(2		)	(1		)	—			1			(2		)
Amortized loss on derivative hedges	(6		)	—			—			—			(6		)
Change in unrealized gain on available for sale securities	11			—			12			(12		)	11
Other comprehensive income (loss)	3			(1		)	12			(11		)	3
Income taxes (benefits) on other comprehensive income (loss)	1			(1		)	5			(4		)	1
Other comprehensive income, net of tax	2			—			7			(7		)	2
COMPREHENSIVE INCOME	$	224		$	553		$	296		$	(849	)	$	224

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

For the Three Months Ended September 30, 2011	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
STATEMENTS OF INCOME
REVENUES	$	1,445		$	686		$	371		$	(1,035	)	$	1,467
OPERATING EXPENSES:
Fuel	6			323			57			—			386
Purchased power from affiliates	1,031			4			55			(1,035		)	55
Purchased power from non-affiliates	330			(2		)	—			—			328
Other operating expenses	162			94			122			12			390
Provision for depreciation	1			33			36			(1		)	69
General taxes	19			9			3			—			31
Impairment of long-lived assets	—			2			—			—			2
Total operating expenses	1,549			463			273			(1,024		)	1,261
OPERATING INCOME (LOSS)	(104		)	223			98			(11		)	206
OTHER INCOME (EXPENSE):
Investment income	—			—			28			—			28
Miscellaneous income, including net income from equity investees	196			16			—			(203		)	9
Interest expense — affiliates	—			(1		)	(1		)	—			(2		)
Interest expense — other	(24		)	(26		)	(16		)	15			(51		)
Capitalized interest	—			3			5			—			8
Total other income (expense)	172			(8		)	16			(188		)	(8		)
INCOME BEFORE INCOME TAXES	68			215			114			(199		)	198
INCOME TAXES (BENEFITS)	(52		)	83			45			2			78
NET INCOME	$	120		$	132		$	69		$	(201	)	$	120
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$	120		$	132		$	69		$	(201	)	$	120
OTHER COMPREHENSIVE LOSS
Pensions and OPEB prior service costs	(5		)	(4		)	—			4			(5		)
Amortized loss on derivative hedges	(1		)	—			—			—			(1		)
Change in unrealized gain on available for sale securities	(22		)	—			(22		)	22			(22		)
Other comprehensive loss	(28		)	(4		)	(22		)	26			(28		)
Income tax benefits on other comprehensive loss	(11		)	(2		)	(9		)	11			(11		)
Other comprehensive loss, net of tax	(17		)	(2		)	(13		)	15			(17		)
COMPREHENSIVE INCOME	$	103		$	130		$	56		$	(186	)	$	103

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

For the Nine Months Ended September 30, 2011	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
STATEMENTS OF INCOME
REVENUES	$	4,087		$	1,964		$	1,233		$	(3,133	)	$	4,151
OPERATING EXPENSES:
Fuel	13			883			149			—			1,045
Purchased power from affiliates	3,118			15			189			(3,133		)	189
Purchased power from non-affiliates	959			(5		)	—			—			954
Other operating expenses	483			313			435			37			1,268
Provision for depreciation	3			96			112			(4		)	207
General taxes	46			28			17			—			91
Impairment of long-lived assets	—			22			—			—			22
Total operating expenses	4,622			1,352			902			(3,100		)	3,776
OPERATING INCOME (LOSS)	(535		)	612			331			(33		)	375
OTHER INCOME (EXPENSE):
Investment income	1			1			48			—			50
Miscellaneous income, including net income from equity investees	570			18			—			(571		)	17
Interest expense — affiliates	(1		)	(2		)	(2		)	—			(5		)
Interest expense — other	(72		)	(82		)	(49		)	47			(156		)
Capitalized interest	—			13			15			—			28
Total other income (expense)	498			(52		)	12			(524		)	(66		)
INCOME (LOSS) BEFORE INCOME TAXES	(37		)	560			343			(557		)	309
INCOME TAXES (BENEFITS)	(231		)	208			131			7			115
NET INCOME	$	194		$	352		$	212		$	(564	)	$	194
STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$	194		$	352		$	212		$	(564	)	$	194
OTHER COMPREHENSIVE LOSS
Pensions and OPEB prior service costs	(14		)	(12		)	—			12			(14		)
Amortized gain on derivative hedges	4			—			—			—			4
Change in unrealized gain on available for sale securities	(7		)	—			(7		)	7			(7		)
Other comprehensive loss	(17		)	(12		)	(7		)	19			(17		)
Income tax benefits on other comprehensive loss	(7		)	(6		)	(3		)	9			(7		)
Other comprehensive loss, net of tax	(10		)	(6		)	(4		)	10			(10		)
COMPREHENSIVE INCOME	$	184		$	346		$	208		$	(554	)	$	184

Condensed Consolidating Balance Sheets

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING BALANCE SHEETS

(Unaudited)

As of September 30, 2012	FES		FGCO		NGC		Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—	$	3	$	—	$	—		$	3
Receivables-
Customers	485		—		—		—			485
Affiliated companies	362		410		238		(608		)	402
Other	63		15		25		—			103
Notes receivable from affiliated companies	153		2,061		406		(2,182		)	438
Materials and supplies, at average cost	66		257		210		—			533
Derivatives	209		—		—		—			209
Prepayments and other	85		24		27		1			137
	1,423		2,770		906		(2,789		)	2,310
PROPERTY, PLANT AND EQUIPMENT:
In service	89		5,730		6,204		(385		)	11,638
Less — Accumulated provision for depreciation	31		1,888		2,578		(185		)	4,312
	58		3,842		3,626		(200		)	7,326
Construction work in progress	32		203		820		—			1,055
	90		4,045		4,446		(200		)	8,381
INVESTMENTS:
Nuclear plant decommissioning trusts	—		—		1,286		—			1,286
Investment in affiliated companies	6,555		—		—		(6,555		)	—
Other	5		11		—		—			16
	6,560		11		1,286		(6,555		)	1,302
DEFERRED CHARGES AND OTHER ASSETS:
Accumulated deferred income tax benefits	—		270		—		(270		)	—
Customer intangibles	114		—		—		—			114
Goodwill	24		—		—		—			24
Property taxes	—		20		23		—			43
Unamortized sale and leaseback costs	—		—		—		111			111
Derivatives	78		—		—		—			78
Other	127		163		2		(111		)	181
	343		453		25		(270		)	551
	$	8,416	$	7,279	$	6,663	$	(9,814	)	$	12,544
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Currently payable long-term debt	$	1	$	565	$	529	$	(21	)	$	1,074
Short-term borrowings-
Affiliated companies	2,048		135		—		(2,183		)	—
Accounts payable-
Affiliated companies	618		311		463		(605		)	787
Other	82		92		—		—			174
Accrued taxes	49		19		19		(4		)	83
Derivatives	153		—		—		—			153
Other	50		154		24		16			244
	3,001		1,276		1,035		(2,797		)	2,515
CAPITALIZATION:
Total equity	3,802		3,651		2,886		(6,537		)	3,802
Long-term debt and other long-term obligations	1,482		1,976		845		(1,218		)	3,085
	5,284		5,627		3,731		(7,755		)	6,887
NONCURRENT LIABILITIES:
Deferred gain on sale and leaseback transaction	—		—		—		900			900
Accumulated deferred income taxes	39		—		624		(162		)	501
Asset retirement obligations	—		29		921		—			950
Retirement benefits	35		148		—		—			183
Lease market valuation liability	—		87		—		—			87
Other	57		112		352		—			521
	131		376		1,897		738			3,142
	$	8,416	$	7,279	$	6,663	$	(9,814	)	$	12,544

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING BALANCE SHEETS

(Unaudited)

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
Affiliated companies	476		643		262		(781		)	600
Other	28		20		13		—			61
Notes receivable from affiliated 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 affiliated companies	5,700		—		—		(5,700		)	—
Other	—		7		—		—			7
	5,700		7		1,223		(5,700		)	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	79		—		—		—			79
Other	89		99		3		(62		)	129
	325		431		26		(304		)	478
	$	7,483	$	6,667	$	5,846	$	(8,177	)	$	11,819
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Currently payable long-term debt	$	1	$	411	$	513	$	(20	)	$	905
Short-term borrowings-
Affiliated companies	1,065		89		32		(1,186		)	—
Accounts payable-
Affiliated 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	3,577		3,097		2,587		(5,684		)	3,577
Long-term debt and other long-term obligations	1,483		1,905		641		(1,230		)	2,799
	5,060		5,002		3,228		(6,914		)	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
	$	7,483	$	6,667	$	5,846	$	(8,177	)	$	11,819

Condensed Consolidating Statements of Cash Flows

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(Unaudited)

For the Nine Months Ended September 30, 2012	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR) OPERATING ACTIVITIES	$	(971	)	$	683		$	799		$	(10	)	$	501
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Long-term debt	—			317			243			—			560
Short-term borrowings, net	982			49			—			(1,028		)	3
Redemptions and Repayments-
Long-term debt	—			(169		)	(87		)	10			(246		)
Short-term borrowings, net	—			—			(32		)	32			—
Other	(1		)	(6		)	(2		)	—			(9		)
Net cash provided from financing activities	981			191			122			(986		)	308
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions	(10		)	(175		)	(350		)	—			(535		)
Nuclear fuel	—			—			(207		)	—			(207		)
Proceeds from asset sales	—			17			—			—			17
Sales of investment securities held in trusts	—			—			1,167			—			1,167
Purchases of investment securities held in trusts	—			—			(1,194		)	—			(1,194		)
Loans to affiliated companies, net	1			(715		)	(337		)	996			(55		)
Other	(1		)	(5		)	—			—			(6		)
Net cash used for investing activities	(10		)	(878		)	(921		)	996			(813		)
Net change in cash and cash equivalents	—			(4		)	—			—			(4		)
Cash and cash equivalents at beginning of period	—			7			—			—			7
Cash and cash equivalents at end of period	$	—		$	3		$	—		$	—		$	3

FIRSTENERGY SOLUTIONS CORP.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(Unaudited)

For the Nine Months Ended September 30, 2011	FES			FGCO			NGC			Eliminations			Consolidated
	(In millions)
NET CASH PROVIDED FROM (USED FOR) OPERATING ACTIVITIES	$	(367	)	$	539		$	374		$	(9	)	$	537
CASH FLOWS FROM FINANCING ACTIVITIES:
New Financing-
Long-term debt	—			140			107			—			247
Short-term borrowings, net	750			59			25			(834		)	—
Redemptions and Repayments-
Long-term debt	(136		)	(351		)	(313		)	9			(791		)
Short-term borrowings, net	—			—			—			(12		)	(12		)
Other	(8		)	(1		)	(2		)	1			(10		)
Net cash provided from (used for) financing activities	606			(153		)	(183		)	(836		)	(566		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions	(8		)	(143		)	(257		)	—			(408		)
Nuclear fuel	—			—			(65		)	—			(65		)
Proceeds from asset sales	9			510			—			—			519
Sales of investment securities held in trusts	—			—			1,613			—			1,613
Purchases of investment securities held in trusts	—			—			(1,654		)	—			(1,654		)
Loans to affiliated companies, net	(228		)	(732		)	172			845			57
Other	(12		)	(24		)	—			—			(36		)
Net cash used for investing activities	(239		)	(389		)	(191		)	845			26
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