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