XML 37 R24.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Discontinued Operations (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | Summarized results of discontinued operations for the three and six months ended June 30, 2018 and 2017, were as follows:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In millions) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Revenues |  | $ | 11 |  |  | $ | 680 |  |  | $ | 633 |  |  | $ | 1,369 |
Fuel |  | (5 | ) |  | (180 | ) |  | (121 | ) |  | (344 | )
Purchased power |  | — |  |  | (74 | ) |  | (53 | ) |  | (123 | )
Other operating expenses |  | — |  |  | (282 | ) |  | (347 | ) |  | (774 | )
Provision for depreciation |  | — |  |  | (27 | ) |  | (46 | ) |  | (52 | )
General taxes |  | — |  |  | (23 | ) |  | (18 | ) |  | (52 | )
Impairment of assets |  | — |  |  | (131 | ) |  | — |  |  | (131 | )
Other expense, net |  | (4 | ) |  | (23 | ) |  | (64 | ) |  | (31 | )
Income (Loss) from discontinued operations, before tax |  | 2 |  |  | (60 | ) |  | (16 | ) |  | (138 | )
Income tax benefit(1) |  | (30 | ) |  | (15 | ) |  | (1 | ) |  | (41 | )
Income (Loss) from discontinued operations, net of tax |  | 32 |  |  | (45 | ) |  | (15 | ) |  | (97 | )
Gain on deconsolidation, net of tax |  | — |  |  | — |  |  | 1,239 |  |  | — |
Income (loss) from discontinued operations |  | $ | 32 |  |  | $ | (45 | ) |  | $ | 1,224 |  |  | $ | (97 | )
(1) In conjunction with the sale of an interest in Bath County, AGC wrote-off and recognized as a benefit in discontinued operations its excess deferred tax liabilities of $32 million, created from the Tax Act, since they are not required to be refunded to ratepayers. The gain on deconsolidation that was recognized in the six months ended June 30, 2018, consisted of the following:
(In millions) |  | For the Six Months Ended June 30, 2018
Removal of investment in FES and FENOC |  | $ | 2,193 |
Assumption of benefit obligations retained at FE (including Pension, OPEB and EDCP) |  | (820 | )
Guarantees and credit support provided by FE |  | (139 | )
Reserve on receivables and allocated Pension/OPEB mark-to-market |  | (914 | )
Gain on deconsolidation of FES and FENOC, before tax |  | 320 |
Income tax benefit, including estimated worthless stock deduction |  | 919 |
Gain on deconsolidation of FES and FENOC, net of tax |  | $ | 1,239 |
The following table summarizes the major classes of assets and liabilities as discontinued operations as of June 30, 2018 and December 31, 2017:
(In millions) |  | June 30, 2018 |  | December 31, 2017
Carrying amount of the major classes of assets included in discontinued operations: |  |  |  |
Cash |  | $ | — |  |  | $ | 1 |
Restricted cash |  | — |  |  | 3 |
Receivables |  | — |  |  | 202 |
Materials and supplies |  | — |  |  | 201 |
Collateral |  | — |  |  | 130 |
Other current assets |  | — |  |  | 69 |
Total current assets |  | — |  |  | 606 |
Property, plant and equipment |  | — |  |  | 1,057 |
Investments |  | — |  |  | 1,875 |
Other non-current assets |  | — |  |  | 356 |
Total non-current assets |  | — |  |  | 3,288 |
Total assets included in discontinued operations |  | $ | — |  |  | $ | 3,894 |
Carrying amount of the major classes of liabilities included in discontinued operations: |  |  |  |
Currently payable long-term debt |  | $ | — |  |  | $ | 524 |
Accounts payable |  | — |  |  | 200 |
Accrued taxes |  | — |  |  | 38 |
Accrued compensation and benefits |  | — |  |  | 79 |
Other current liabilities |  | — |  |  | 132 |
Total current liabilities |  | — |  |  | 973 |
Long-term debt and other long-term obligations |  | — |  |  | 2,299 |
Accumulated deferred income taxes (1) |  | — |  |  | (1,812 | )
Asset retirement obligations |  | — |  |  | 1,945 |
Deferred gain on sale and leaseback transaction |  | — |  |  | 723 |
Other non-current liabilities |  | — |  |  | 244 |
Total noncurrent liabilities |  | — |  |  | 3,399 |
Total liabilities included in discontinued operations |  | $ | — |  |  | $ | 4,372 |
(1) Represents an increase in FirstEnergy's ADIT liability as an ADIT asset was removed upon deconsolidation of FES and FENOC. FirstEnergy's Consolidated Statement of Cash Flows combines cash flows from discontinued operations with cash flows from continuing operations within each cash flow statement category. The following table summarizes the major classes of cash flow items as discontinued operations for the six months ended June 30, 2018 and 2017:
|  | For the Six Months Ended June 30,
(In millions) |  | 2018 |  | 2017
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |
Income (loss) from discontinued operations |  | $ | 1,224 |  |  | $ | (97 | )
Depreciation and amortization, including nuclear fuel, regulatory assets, net, intangible assets and deferred debt-related costs |  | 47 |  |  | 157 |
Unrealized (gain) loss on derivative transactions |  | (10 | ) |  | 53 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |
Property additions |  | (15 | ) |  | (178 | )
Nuclear fuel |  | — |  |  | (134 | )
Sales of investment securities held in trusts |  | 109 |  |  | 437 |
Purchases of investment securities held in trusts |  | (122 | ) |  | (466 | )

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration