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Summary of Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED)
SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED)

The following summarizes certain consolidated operating results by quarter for 2016 and 2015.
FirstEnergy
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(In millions, except per share amounts)
2016
 
2015
 
Dec. 31
 
Sept. 30
 
June 30
 
Mar. 31
 
Dec. 31
 
Sept. 30
 
June 30
 
Mar. 31
Revenues
$
3,375

 
$
3,917

 
$
3,401

 
$
3,869

 
$
3,541

 
$
4,123

 
$
3,465

 
$
3,897

Other operating expense
1,023

 
953

 
964

 
918

 
950

 
842

 
900

 
1,057

Pension and OPEB mark-to-market adjustment
147

 
—

 
—

 
—

 
242

 
—

 
—

 
—

Provision for depreciation
339

 
311

 
334

 
329

 
313

 
328

 
322

 
319

Impairment of assets
9,218

 
—

 
1,447

 
—

 
18

 
8

 
16

 
—

Operating Income (Loss)
(8,924
)
 
861

 
(975
)
 
776

 
236

 
908

 
554

 
594

Income (loss) before income taxes (benefits)
(9,185
)
 
631

 
(1,219
)
 
541

 
(396
)
 
621

 
302

 
366

Income taxes (benefits)
(3,389
)
 
251

 
(130
)
 
213

 
(170
)
 
226

 
115

 
144

Net Income (Loss)
(5,796
)
 
380

 
(1,089
)
 
328

 
(226
)
 
395

 
187

 
222

Earnings (loss) per share of common stock-(1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic - Earnings (losses) Available to FirstEnergy Corp.
(13.44
)
 
0.89

 
(2.56
)
 
0.78

 
(0.53
)
 
0.94

 
0.44

 
0.53

Diluted - Earnings (losses) Available to FirstEnergy Corp.
(13.44
)
 
0.89

 
(2.56
)
 
0.77

 
(0.53
)
 
0.93

 
0.44

 
0.53

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) - The sum of quarterly earnings per share information may not equal annual earnings per share due to the issuance of shares throughout the year and the $500 million equity issuance in December 2016. See FirstEnergy's Consolidated Statements of Stockholders' Equity, "Note 5, Stock-Based Compensation Plans" and "Note 12, Capitalization" for additional information.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(In millions)
2016
 
2015
 
Dec. 31
 
Sept. 30
 
June 30
 
Mar. 31
 
Dec. 31
 
Sept. 30
 
June 30
 
Mar. 31
Revenues
$
997

 
$
1,100

 
$
1,102

 
$
1,199

 
$
1,171

 
$
1,338

 
$
1,119

 
$
1,377

Other operating expense
352

 
316

 
369

 
240

 
312

 
246

 
337

 
413

Pension and OPEB mark-to-market adjustment
48

 
—

 
—

 
—

 
57

 
—

 
—

 
—

Provision for depreciation
86

 
83

 
84

 
83

 
84

 
79

 
81

 
80

Impairment of assets
8,082

 
—

 
540

 
—

 
17

 
—

 
16

 
—

Operating Income (Loss)
(8,153
)
 
101

 
(571
)
 
226

 
25

 
240

 
—

 
12

Income (loss) from continuing operations before income taxes (benefits)
(8,171
)
 
96

 
(581
)
 
213

 
(13
)
 
190

 
(25
)
 
(5
)
Income taxes (benefits)
(2,983
)
 
56

 
(143
)
 
82

 
1

 
70

 
(4
)
 
(2
)
Net Income (Loss)
(5,188
)
 
40

 
(438
)
 
131

 
(14
)
 
120

 
(21
)
 
(3
)