Discontinued Operations

12 Months Ended

Dec. 31, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations (EME only)

In September 2012, Homer City, a wholly owned indirect subsidiary of EME, and Homer City Generation, L.P., an affiliate of GECC, entered into the Homer City Master Transaction Agreement (MTA) for the divestiture by Homer City of substantially all of its remaining assets and certain specified liabilities. Accordingly, in the third quarter of 2012, Homer City met the definition of a discontinued operation and was classified separately on EME's consolidated financial statements. In December 2012, the transaction closed and Homer City Generation, L.P. assumed control of Homer City. On May 2, 2013, the Homer City Debtors filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code.

The 2013 results from discontinued operations reflects the withdrawal from the benefit plan that provided postretirement medical, dental, vision, and life insurance coverage to certain Homer City retirees and the subsequent cost, reflected in reorganization items, for a Bankruptcy Court approved settlement between the Homer City Debtors and the union for the affected Homer City retirees. EME recorded an impairment charge of $1,032 million ($623 million after tax) in 2011 related to Homer City's long-lived assets, and an asset write-down of $89 million ($53 million after tax) in 2012 to reflect the ultimate carrying value of assets and liabilities transferred to Homer City Generation, L.P.

Summarized results of discontinued operations for EME are:

	Year Ended December 31,
(in millions)	2013		2012			2011
Total operating revenues	$	—	$	395		$	527
Total operating expenses	29		(496		)	(538		)
Asset impairments and other charges	—		(89		)	(1,032		)
Other income	—		5			—
Income (loss) before reorganization items and income taxes	29		(185		)	(1,043		)
Reorganization items, net	22		—			—
Provision (benefit) for income taxes	6		(73		)	(411		)
Income (loss) from operations of discontinued subsidiaries	$	1	$	(112	)	$	(632	)

The assets and liabilities associated with the discontinued operations are segregated on the consolidated balance sheets as follows:

	December 31,
(in millions)	2013		2012
Cash and cash equivalents	$	—	$	2
Other current assets	—		7
Carrying value adjustment	—		(9		)
Assets of discontinued operations	$	—	$	—