2013 Q2 Form 10-Q Financial Statement

#000103129613000034 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $3.507B $3.755B
YoY Change -6.6% -7.51%
Cost Of Revenue $866.0M $1.045B
YoY Change -17.13% -14.34%
Gross Profit $2.641B $2.693B
YoY Change -1.93% -5.18%
Gross Profit Margin 75.31% 71.72%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $372.0M $347.0M
YoY Change 7.2% 24.37%
% of Gross Profit 14.09% 12.89%
Operating Expenses $2.126B $2.150B
YoY Change -1.12% -7.29%
Operating Profit $42.00M $549.0M
YoY Change -92.35% 5.37%
Interest Expense $256.0M $274.0M
YoY Change -6.57% -228.04%
% of Operating Profit 609.52% 49.91%
Other Income/Expense, Net -$272.0M -$242.0M
YoY Change 12.4% 13.08%
Pretax Income -$230.0M $315.0M
YoY Change -173.02% 2.61%
Income Tax -$62.00M $123.0M
% Of Pretax Income 39.05%
Net Earnings -$164.0M $187.0M
YoY Change -187.7% -7.88%
Net Earnings / Revenue -4.68% 4.98%
Basic Earnings Per Share -$0.39 $0.45
Diluted Earnings Per Share -$0.39 $0.45
COMMON SHARES
Basic Shares Outstanding 418.0M shares 417.0M shares
Diluted Shares Outstanding 418.0M shares 419.0M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.00M $94.00M
YoY Change -24.47% -76.38%
Cash & Equivalents $71.00M $94.00M
Short-Term Investments
Other Short-Term Assets $248.0M $171.0M
YoY Change 45.03% -83.24%
Inventory $806.0M $921.0M
Prepaid Expenses
Receivables $1.646B $1.635B
Other Receivables $277.0M $263.0M
Total Short-Term Assets $3.560B $3.608B
YoY Change -1.33% -12.38%
LONG-TERM ASSETS
Property, Plant & Equipment $33.09B $30.77B
YoY Change 7.55% 4.51%
Goodwill $6.447B $6.444B
YoY Change 0.05% 0.12%
Intangibles
YoY Change
Long-Term Investments $922.0M $1.365B
YoY Change -32.45% 23.53%
Other Assets $1.638B $1.588B
YoY Change 3.15% -71.15%
Total Long-Term Assets $10.41B $10.15B
YoY Change 2.48% -76.65%
TOTAL ASSETS
Total Short-Term Assets $3.560B $3.608B
Total Long-Term Assets $10.41B $10.15B
Total Assets $50.16B $48.05B
YoY Change 4.39% 0.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $950.0M $1.052B
YoY Change -9.7% -6.24%
Accrued Expenses $298.0M $288.0M
YoY Change 3.47% -12.99%
Deferred Revenue
YoY Change
Short-Term Debt $3.254B $1.890B
YoY Change 72.17% 188.11%
Long-Term Debt Due $1.952B $1.577B
YoY Change 23.78% -23.37%
Total Short-Term Liabilities $7.533B $6.082B
YoY Change 23.86% 9.7%
LONG-TERM LIABILITIES
Long-Term Debt $15.45B $15.16B
YoY Change 1.91% -8.08%
Other Long-Term Liabilities $1.703B $1.980B
YoY Change -13.99% -73.21%
Total Long-Term Liabilities $14.37B $13.30B
YoY Change 8.1% -44.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.533B $6.082B
Total Long-Term Liabilities $14.37B $13.30B
Total Liabilities $21.91B $19.38B
YoY Change 13.05% -43.99%
SHAREHOLDERS EQUITY
Retained Earnings $2.690B $3.310B
YoY Change -18.73%
Common Stock $9.744B $9.756B
YoY Change -0.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.80B $13.50B
YoY Change
Total Liabilities & Shareholders Equity $50.16B $48.05B
YoY Change 4.39% 0.95%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$164.0M $187.0M
YoY Change -187.7% -7.88%
Depreciation, Depletion And Amortization $372.0M $347.0M
YoY Change 7.2% 24.37%
Cash From Operating Activities $443.0M $475.0M
YoY Change -6.74% -12.04%
INVESTING ACTIVITIES
Capital Expenditures -$609.0M -$412.0M
YoY Change 47.82% -27.59%
Acquisitions
YoY Change
Other Investing Activities -$34.00M -$55.00M
YoY Change -38.18% -48.6%
Cash From Investing Activities -$643.0M -$467.0M
YoY Change 37.69% -30.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 204.0M 12.00M
YoY Change 1600.0% -102.45%
NET CHANGE
Cash From Operating Activities 443.0M 475.0M
Cash From Investing Activities -643.0M -467.0M
Cash From Financing Activities 204.0M 12.00M
Net Change In Cash 4.000M 20.00M
YoY Change -80.0% -103.2%
FREE CASH FLOW
Cash From Operating Activities $443.0M $475.0M
Capital Expenditures -$609.0M -$412.0M
Free Cash Flow $1.052B $887.0M
YoY Change 18.6% -20.02%

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CY2013Q2 fe Investments Not Required To Be Disclosed
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PaymentsofDebtRedemptionMakewholePremiums
61000000 USD
fe Paymentsof Debt Redemption Makewhole Premiums
PaymentsofDebtRedemptionMakewholePremiums
0 USD
fe Paymentsof Debt Redemption Tender Premiums
PaymentsofDebtRedemptionTenderPremiums
0 USD
fe Paymentsof Debt Redemption Tender Premiums
PaymentsofDebtRedemptionTenderPremiums
110000000 USD
fe Period In Which Lses May Request Direct Allocation Of Ftrs
PeriodInWhichLsesMayRequestDirectAllocationOfFtrs
P2Y
CY2012Q4 fe Property Plant And Equipment Excluding Construction In Progress
PropertyPlantAndEquipmentExcludingConstructionInProgress
43210000000 USD
CY2013Q2 fe Property Plant And Equipment Excluding Construction In Progress
PropertyPlantAndEquipmentExcludingConstructionInProgress
43888000000 USD
CY2013Q1 fe Purchase Of Lessor Equity Interests In Sale And Leaseback Value
PurchaseOfLessorEquityInterestsInSaleAndLeasebackValue
221000000 USD
CY2012Q2 fe Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
21000000 USD
CY2013Q2 fe Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
37000000 USD
fe Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
56000000 USD
fe Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
76000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
fe Regional Enforcement Entities
RegionalEnforcementEntities
8 entities
CY2012Q4 fe Unamortized Gains Included In Long Term Debt Associated With Prior Fixed For Floating Interest Rate Swap Agreements
UnamortizedGainsIncludedInLongTermDebtAssociatedWithPriorFixedForFloatingInterestRateSwapAgreements
79000000 USD
CY2013Q2 fe Unamortized Gains Included In Long Term Debt Associated With Prior Fixed For Floating Interest Rate Swap Agreements
UnamortizedGainsIncludedInLongTermDebtAssociatedWithPriorFixedForFloatingInterestRateSwapAgreements
60000000 USD
CY2012Q4 fe Unamortized Gains Or Losses Associated With Designated Cash Flow Hedges
UnamortizedGainsOrLossesAssociatedWithDesignatedCashFlowHedges
10000000 USD
CY2013Q2 fe Unamortized Gains Or Losses Associated With Designated Cash Flow Hedges
UnamortizedGainsOrLossesAssociatedWithDesignatedCashFlowHedges
6000000 USD
CY2013Q2 fe Unamortized Losses Associated With Prior Interest Rate Hedges
UnamortizedLossesAssociatedWithPriorInterestRateHedges
63000000 USD
CY2012Q4 fe Unamortized Losses Associated With Prior Interest Rate Hedges
UnamortizedLossesAssociatedWithPriorInterestRateHedges
70000000 USD
fe Variable Interest Entities Percentage Of Equity Interest By Unaffiliated Third Party Included In Ownership Of Entity Three
VariableInterestEntitiesPercentageOfEquityInterestByUnaffiliatedThirdPartyIncludedInOwnershipOfEntityThree
0.03
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001031296
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
418216437 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
FIRSTENERGY CORP

Files In Submission

Name View Source Status
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