Exhibit 99.1
FirstEnergy Corp.
Consolidated Income Segments
(In millions)
Three Months Ended December 31, 2007 | |||||||||||||||||||||||||||
Ohio | |||||||||||||||||||||||||||
Energy | Competitive | Transitional | |||||||||||||||||||||||||
Delivery | Energy | Generation | Reconciling | ||||||||||||||||||||||||
Services (a) | Services (b) | Services (c) | Other (d) | Adjustments | Consolidated | ||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||
(1 | ) | Electric sales | $ | 1,921 | $ | 343 | $ | 617 | $ | - | $ | - | $ | 2,881 | |||||||||||||
(2 | ) | FE Facilities | - | - | - | - | - | - | |||||||||||||||||||
(3 | ) | Other | 150 | 36 | 11 | 10 | (9 | ) | 198 | ||||||||||||||||||
(4 | ) | Internal revenues | - | 691 | - | - | (691 | ) | - | ||||||||||||||||||
(5 | ) | Total Revenues | 2,071 | 1,070 | 628 | 10 | (700 | ) | 3,079 | ||||||||||||||||||
Expenses | |||||||||||||||||||||||||||
(6 | ) | Fuel | 1 | 290 | - | - | - | 291 | |||||||||||||||||||
(7 | ) | Purchased power | 899 | 186 | 528 | - | (691 | ) | 922 | ||||||||||||||||||
(8 | ) | Other operating expenses | 445 | 321 | 87 | 5 | (27 | ) | 831 | ||||||||||||||||||
(9 | ) | FE Facilities | - | - | - | - | - | - | |||||||||||||||||||
(10 | ) | Provision for depreciation | 103 | 51 | - | 1 | 6 | 161 | |||||||||||||||||||
(11 | ) | Amortization of regulatory assets | 226 | - | 8 | - | - | 234 | |||||||||||||||||||
(12 | ) | Deferral of new regulatory assets | (72 | ) | - | (53 | ) | - | - | (125 | ) | ||||||||||||||||
(13 | ) | General taxes | 137 | 26 | 1 | - | 1 | 165 | |||||||||||||||||||
(14 | ) | Total Expenses | 1,739 | 874 | 571 | 6 | (711 | ) | 2,479 | ||||||||||||||||||
(15 | ) | Operating Income | 332 | 196 | 57 | 4 | 11 | 600 | |||||||||||||||||||
Other Income (Expense) | |||||||||||||||||||||||||||
(16 | ) | Investment income | 50 | 3 | - | - | (26 | ) | 27 | ||||||||||||||||||
(17 | ) | Interest expense | (109 | ) | (28 | ) | - | (1 | ) | (44 | ) | (182 | ) | ||||||||||||||
(18 | ) | Capitalized interest | 4 | 7 | - | - | - | 11 | |||||||||||||||||||
(19 | ) | Subsidiaries' preferred stock dividends | - | - | - | - | - | - | |||||||||||||||||||
(20 | ) | Total Other Expense | (55 | ) | (18 | ) | - | (1 | ) | (70 | ) | (144 | ) | ||||||||||||||
(21 | ) | Income From Continuing Operations | |||||||||||||||||||||||||
Before Income Taxes | 277 | 178 | 57 | 3 | (59 | ) | 456 | ||||||||||||||||||||
(22 | ) | Income taxes | 110 | 71 | 23 | 4 | (20 | ) | 188 | ||||||||||||||||||
(23 | ) | Income From Continuing Operations | 167 | 107 | 34 | (1 | ) | (39 | ) | 268 | |||||||||||||||||
(24 | ) | Discontinued operations | - | - | - | - | - | - | |||||||||||||||||||
(25 | ) | Net Income | $ | 167 | $ | 107 | $ | 34 | $ | (1 | ) | $ | (39 | ) | $ | 268 | |||||||||||
(a | ) | Consists of regulated transmission and distribution operations, including transition cost recovery, and provider of last resort generation service for | |||||||||||||||||||||||||
FirstEnergy's Pennsylvania and New Jersey electric utility subsidiaries. | |||||||||||||||||||||||||||
(b | ) | Consists of unregulated generation and commodity operations, including competitive electric sales, and generation sales to affiliated electric utilities. | |||||||||||||||||||||||||
(c | ) | Represents provider of last resort generation service by FirstEnergy's Ohio electric utility subsidiaries. | |||||||||||||||||||||||||
(d | ) | Primarily consists of telecommunications services. | |||||||||||||||||||||||||
____________________________________________________________________________________________________________________________________________
Consolidated Report to the Financial Community – 4th Quarter Segment Report 2007 & #160; 1
FirstEnergy Corp.
Consolidated Income Segments
(In millions)
Three Months Ended December 31, 2006 | ||||||||||||||||||||||||||
Ohio | ||||||||||||||||||||||||||
Energy | Competitive | Transitional | ||||||||||||||||||||||||
Delivery | Energy | Generation | Reconciling | |||||||||||||||||||||||
Services (a) | Services (b) | Services (c) | Other (d) | Adjustments | Consolidated | |||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||
(1 | ) | Electric sales | $ | 1,605 | $ | 311 | $ | 576 | $ | - | $ | - | $ | 2,492 | ||||||||||||
(2 | ) | FE Facilities | - | - | - | - | - | - | ||||||||||||||||||
(3 | ) | Other | 142 | 41 | 6 | 3 | (4 | ) | 188 | |||||||||||||||||
(4 | ) | Internal revenues | - | 612 | - | - | (612 | ) | - | |||||||||||||||||
(5 | ) | Total Revenues | 1,747 | 964 | 582 | 3 | (616 | ) | 2,680 | |||||||||||||||||
Expenses | ||||||||||||||||||||||||||
(6 | ) | Fuel | 1 | 282 | - | - | - | 283 | ||||||||||||||||||
(7 | ) | Purchased power | 671 | 114 | 492 | - | (613 | ) | 664 | |||||||||||||||||
(8 | ) | Other operating expenses | 388 | 300 | 62 | (6 | ) | (9 | ) | 735 | ||||||||||||||||
(9 | ) | FE Facilities | - | - | - | - | - | - | ||||||||||||||||||
(10 | ) | Provision for depreciation | 97 | 47 | - | 1 | 6 | 151 | ||||||||||||||||||
(11 | ) | Amortization of regulatory assets | 192 | - | 5 | - | - | 197 | ||||||||||||||||||
(12 | ) | Deferral of new regulatory assets | (100 | ) | - | (21 | ) | - | - | (121 | ) | |||||||||||||||
(13 | ) | General taxes | 140 | 20 | 3 | (3 | ) | 7 | 167 | |||||||||||||||||
(14 | ) | Total Expenses | 1,389 | 763 | 541 | (8 | ) | (609 | ) | 2,076 | ||||||||||||||||
(15 | ) | Operating Income | 358 | 201 | 41 | 11 | (7 | ) | 604 | |||||||||||||||||
Other Income (Expense) | ||||||||||||||||||||||||||
(16 | ) | Investment income | 84 | - | - | - | (55 | ) | 29 | |||||||||||||||||
(17 | ) | Interest expense | (121 | ) | (52 | ) | - | (1 | ) | (19 | ) | (193 | ) | |||||||||||||
(18 | ) | Capitalized interest | 3 | 3 | - | - | (1 | ) | 5 | |||||||||||||||||
(19 | ) | Subsidiaries' preferred stock dividends | (7 | ) | - | - | - | 6 | (1 | ) | ||||||||||||||||
(20 | ) | Total Other Expense | (41 | ) | (49 | ) | - | (1 | ) | (69 | ) | (160 | ) | |||||||||||||
(21 | ) | Income From Continuing Operations | ||||||||||||||||||||||||
Before Income Taxes | 317 | 152 | 41 | 10 | (76 | ) | 444 | |||||||||||||||||||
(22 | ) | Income taxes | 127 | 61 | 17 | (4 | ) | (31 | ) | 170 | ||||||||||||||||
(23 | ) | Income From Continuing Operations | 190 | 91 | 24 | 14 | (45 | ) | 274 | |||||||||||||||||
(24 | ) | Discontinued operations | - | - | - | - | - | - | ||||||||||||||||||
(25 | ) | Net Income | $ | 190 | $ | 91 | $ | 24 | $ | 14 | $ | (45 | ) | $ | 274 | |||||||||||
(a | ) | Consists of regulated transmission and distribution operations, including transition cost recovery, and provider of last resort generation service for | ||||||||||||||||||||||||
FirstEnergy's Pennsylvania and New Jersey electric utility subsidiaries. | ||||||||||||||||||||||||||
(b | ) | Consists of unregulated generation and commodity operations, including competitive electric sales,and generation sales to affiliated electric utilities. | ||||||||||||||||||||||||
(c | ) | Represents provider of last resort generation service by FirstEnergy's Ohio electric utility subsidiaries. | ||||||||||||||||||||||||
(d | ) | Consists of telecommunications services and non-core businesses divested in 2006 (Facilities Services Group and MYR) | ||||||||||||||||||||||||
____________________________________________________________________________________________________________________________________________
Consolidated Report to the Financial Community – 4th Quarter Segment Report 2
FirstEnergy Corp.
Consolidated Income Segments
(In millions)
Three Months Ended Dec. 31, 2007 vs. Three Months Ended Dec. 31, 2006 | ||||||||||||||||||||||||||
Ohio | ||||||||||||||||||||||||||
Energy | Competitive | Transitional | ||||||||||||||||||||||||
Delivery | Energy | Generation | Reconciling | |||||||||||||||||||||||
Services (a) | Services (b) | Services (c) | Other (d) | Adjustments | Consolidated | |||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||
(1 | ) | Electric sales | $ | 316 | $ | 32 | $ | 41 | $ | - | $ | - | $ | 389 | ||||||||||||
(2 | ) | FE Facilities | - | - | - | - | - | - | ||||||||||||||||||
(3 | ) | Other | 8 | (5 | ) | 5 | 7 | (5 | ) | 10 | ||||||||||||||||
(4 | ) | Internal revenues | - | 79 | - | - | (79 | ) | - | |||||||||||||||||
(5 | ) | Total Revenues | 324 | 106 | 46 | 7 | (84 | ) | 399 | |||||||||||||||||
Expenses | ||||||||||||||||||||||||||
(6 | ) | Fuel | - | 8 | - | - | - | 8 | ||||||||||||||||||
(7 | ) | Purchased power | 228 | 72 | 36 | - | (78 | ) | 258 | |||||||||||||||||
(8 | ) | Other operating expenses | 57 | 21 | 25 | 11 | (18 | ) | 96 | |||||||||||||||||
(9 | ) | FE Facilities | - | - | - | - | - | - | ||||||||||||||||||
(10 | ) | Provision for depreciation | 6 | 4 | - | - | - | 10 | ||||||||||||||||||
(11 | ) | Amortization of regulatory assets | 34 | - | 3 | - | - | 37 | ||||||||||||||||||
(12 | ) | Deferral of new regulatory assets | 28 | - | (32 | ) | - | - | (4 | ) | ||||||||||||||||
(13 | ) | General taxes | (3 | ) | 6 | (2 | ) | 3 | (6 | ) | (2 | ) | ||||||||||||||
(14 | ) | Total Expenses | 350 | 111 | 30 | 14 | (102 | ) | 403 | |||||||||||||||||
(15 | ) | Operating Income | (26 | ) | (5 | ) | 16 | (7 | ) | 18 | (4 | ) | ||||||||||||||
Other Income (Expense) | ||||||||||||||||||||||||||
(16 | ) | Investment income | (34 | ) | 3 | - | - | 29 | (2 | ) | ||||||||||||||||
(17 | ) | Interest expense | 12 | 24 | - | - | (25 | ) | 11 | |||||||||||||||||
(18 | ) | Capitalized interest | 1 | 4 | - | - | 1 | 6 | ||||||||||||||||||
(19 | ) | Subsidiaries' preferred stock dividends | 7 | - | - | - | (6 | ) | 1 | |||||||||||||||||
(20 | ) | Total Other Expense | (14 | ) | 31 | - | - | (1 | ) | 16 | ||||||||||||||||
(21 | ) | Income From Continuing Operations | ||||||||||||||||||||||||
Before Income Taxes | (40 | ) | 26 | 16 | (7 | ) | 17 | 12 | ||||||||||||||||||
(22 | ) | Income taxes | (17 | ) | 10 | 6 | 8 | 11 | 18 | |||||||||||||||||
(23 | ) | Income From Continuing Operations | (23 | ) | 16 | 10 | (15 | ) | 6 | (6 | ) | |||||||||||||||
(24 | ) | Discontinued operations | - | - | - | - | - | - | ||||||||||||||||||
(25 | ) | Net Income | $ | (23 | ) | $ | 16 | $ | 10 | $ | (15 | ) | $ | 6 | $ | (6 | ) | |||||||||
(a | ) | Consists of regulated transmission and distribution operations, including transition cost recovery,and provider of last resort generation service for | ||||||||||||||||||||||||
FirstEnergy's Pennsylvania and New Jersey electric utility subsidiaries. | ||||||||||||||||||||||||||
(b | ) | Consists of unregulated generation and commodity operations, including competitive electric sales, and generation sales to affiliated electric utilities. | ||||||||||||||||||||||||
(c | ) | Represents provider of last resort generation service by FirstEnergy's Ohio electric utility subsidiaries. | ||||||||||||||||||||||||
(d | ) | Consists of telecommunications services and non-core businesses divested in 2006 (Facilities Services Group and MYR). | ||||||||||||||||||||||||
____________________________________________________________________________________________________________________________________________
Consolidated Report to the Financial Community – 4th Quarter Segment Report 3