XML 47 R36.htm IDEA: XBRL DOCUMENT v3.20.2
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
Summarized results of discontinued operations for the years ended December 31, 2019, 2018, and 2017 were as follows:
For the Years Ended December 31,
(In millions)2019
2018 (3)
2017 (3)
Revenues$188 $989 $3,055 
Fuel (140)(304)(879)
Purchased power — (84)(268)
Other operating expenses(63)(435)(1,499)
Provision for depreciation— (96)(109)
General taxes (14)(35)(103)
Impairment of assets(1)
— — (2,358)
Pleasants economic interest(2)
27 — — 
Other expense, net(2)(83)(94)
Loss from discontinued operations, before tax(4)(48)(2,255)
Income tax expense (benefit)47 61 (820)
Loss from discontinued operations, net of tax(51)(109)(1,435)
Gain on disposal of FES and FENOC, net of tax59 435 — 
Income (Loss) from discontinued operations$8 $326 $(1,435)
(1) Includes impairment of the FES nuclear facilities, the Pleasants Power Station ($120 million), and the competitive generation asset sale ($193 million).
(2) Reflects the estimated amounts owed from FG for its economic interests in Pleasants effective January 1, 2019, as further discussed above.
(3) Discontinued operations include results of FES and FENOC through March 31, 2018, when deconsolidated from FirstEnergy's financial statements.
The gain on disposal that was recognized in the year ended December 31, 2019 and 2018, consisted of the following:
For the Years Ended December 31,
(In millions)20192018
Removal of investment in FES and FENOC$— $2,193 
Assumption of benefit obligations retained at FE— (820)
Guarantees and credit support provided by FE— (139)
Reserve on receivables and allocated pension/OPEB mark-to-market— (914)
Settlement consideration and services credit7 (1,197)
Loss on disposal of FES and FENOC, before tax7 (877)
Income tax benefit, including estimated worthless stock deduction52 1,312 
Gain on disposal of FES and FENOC, net of tax$59 $435 
As of December 31, 2019 and 2018, materials and supplies of $33 million and $25 million, respectively, are included in FirstEnergy's Consolidated Balance Sheets as Current assets - discontinued operations.
FirstEnergy's Consolidated Statements of Cash Flows combines cash flows from discontinued operations with cash flows from continuing operations within each cash flow category. The following table summarizes the major classes of cash flow items from discontinued operations for the years ended December 31, 2019, 2018 and 2017:
For the Years Ended December 31,
(In millions)201920182017
CASH FLOWS FROM OPERATING ACTIVITIES:
Income from discontinued operations$8 $326 $(1,435)
Gain on disposal, net of tax (59)(435)— 
Depreciation and amortization, including nuclear fuel, regulatory assets, net, intangible assets and deferred debt-related costs— 110 333 
Deferred income taxes and investment tax credits, net47 61 (842)
Unrealized (gain) loss on derivative transactions — (10)81 
 
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions— (27)(317)
Nuclear fuel— — (254)
Sales of investment securities held in trusts— 109 940 
Purchases of investment securities held in trusts— (122)(999)