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Firstenergy Corp (FE) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Firstenergy Corp

CIK: 1031296 Ticker: FE




FirstEnergy Corp.                    For Release: February 21, 2017
76 South Main Street
Akron, Ohio 44308
www.firstenergycorp.com    

News Media Contact:                Investor Contact:
Tricia Ingraham                    Irene Prezelj
(330) 384-5247                    (330) 384-3859



FirstEnergy Announces Fourth Quarter and Full Year 2016
Financial Results
Raises 2017 Guidance Reflecting Competitive Operations Exit Strategy;
Progressing on Regulated Growth Strategy

AKRON, Ohio - FirstEnergy Corp. (NYSE: FE) today reported a full-year 2016 GAAP loss of $(6.2) billion, or $(14.49) per basic and diluted share of common stock, on revenue of $14.6 billion. The loss reflects asset impairment and plant exit costs, including charges related to the company’s decision to exit competitive operations by mid-2018 as further discussed below. In 2015, the company reported GAAP earnings of $578 million, or $1.37 per basic and diluted share of common stock, on revenue of $15.0 billion.

Operating (non-GAAP) earnings* for 2016 were $2.63 per basic share of common stock, which was in line with the company’s guidance. In 2015, full-year operating (non-GAAP) earnings were $2.71 per basic share of common stock.

“In 2016, we achieved our financial targets, made significant progress on our regulated growth plans, and began an important strategic review that is designed to support our transition into a fully regulated company,” said Charles E. Jones, FirstEnergy president and chief executive officer. “We continue to focus on this transformation, which will allow us to best serve our customers while providing predictable growth to investors.”

The company also announced that it is raising its earnings guidance range for 2017. The revised GAAP earnings estimate is $2.47 to $2.77 per share, while operating (non-GAAP) guidance is $2.70 to $3.00 per share. The change reflects the impact of lower depreciation resulting from the asset impairment charges and additional costs associated with the company’s strategic review of its competitive operations.


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The following information was filed by Firstenergy Corp (FE) on Tuesday, February 21, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Valuation And Qualifying Accounts
Consolidated Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets (firstenergy Corp.)
Consolidated Balance Sheets (firstenergy Corp.) (parenthetical)
Consolidated Balance Sheets (firstenergy Solutions Corp.)
Consolidated Balance Sheets (firstenergy Solutions Corp.) (parenthetical)
Consolidated Statements Of Cash Flows (firstenergy Corp.)
Consolidated Statements Of Cash Flows (firstenergy Solutions Corp.)
Consolidated Statements Of Common Stockholders' Equity (firstenergy Corp.)
Consolidated Statements Of Common Stockholders' Equity (firstenergy Corp.) (parenthetical)
Consolidated Statements Of Common Stockholders' Equity (firstenergy Solutions Corp.)
Consolidated Statements Of Common Stockholders' Equity (firstenergy Solutions Corp.) (parenthetical)
Consolidated Statements Of Comprehensive Income (loss) (firstenergy Corp.)
Consolidated Statements Of Income (loss) (firstenergy Corp.)
Consolidated Statements Of Income (loss) (firstenergy Corp.) (parenthetical)
Consolidated Statements Of Income (loss) And Comprehensive Income (loss) (firstenergy Solutions Corp.)
Consolidated Statements Of Income (loss) And Comprehensive Income (loss) (firstenergy Solutions Corp.) (parenthetical)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (details 1)
Accumulated Other Comprehensive Income (details)
Accumulated Other Comprehensive Income (tables)
Asset Impairments
Asset Impairments (details 1)
Asset Impairments (details 2)
Asset Impairments (tables)
Asset Retirement Obligations
Asset Retirement Obligations (details)
Asset Retirement Obligations (tables)
Capitalization
Capitalization (details 1)
Capitalization (details 2)
Capitalization (details 3)
Capitalization (details Textuals)
Capitalization (details)
Capitalization (tables)
Commitments, Guarantees And Contingencies
Commitments, Guarantees And Contingencies (details)
Commitments, Guarantees And Contingencies (tables)
Commitments, Guarantees And Contingencies - Clean Air Act And Climate Change (details)
Commitments, Guarantees And Contingencies - Clean Water Act And Regulation Of Waste Disposal (details)
Commitments, Guarantees And Contingencies - Nuclear Insurance, Commitments And Collateral (details)
Commitments, Guarantees And Contingencies - Other Legal Proceedings (details)
Derivative Instruments
Derivative Instruments (details 1)
Derivative Instruments (details 2)
Derivative Instruments (details 3)
Derivative Instruments (details 4)
Derivative Instruments (details Textuals)
Derivative Instruments (details)
Derivative Instruments (tables)
Discontinued Operations
Discontinued Operations (details)
Fair Value Measurements
Fair Value Measurements (details 1)
Fair Value Measurements (details 2)
Fair Value Measurements (details 3)
Fair Value Measurements (details 4)
Fair Value Measurements (details 5)
Fair Value Measurements (details Textuals)
Fair Value Measurements (details)
Fair Value Measurements (tables)
Intangible Assets
Intangible Assets (details)
Intangible Assets (tables)
Leases
Leases (details 1)
Leases (details 2)
Leases (details Textuals)
Leases (details)
Leases (tables)
Organization And Basis Of Presentation (details 1)
Organization And Basis Of Presentation (details 2)
Organization And Basis Of Presentation (details 3)
Organization And Basis Of Presentation (details 4)
Organization And Basis Of Presentation (details 5)
Organization And Basis Of Presentation (details Textuals)
Organization And Basis Of Presentation (details)
Organization And Basis Of Presentation (policies)
Organization And Basis Of Presentation (tables)
Organization, Basis Of Presentation
Pension And Other Postemployment Benefits
Pension And Other Postemployment Benefits (details 1)
Pension And Other Postemployment Benefits (details 10)
Pension And Other Postemployment Benefits (details 11)
Pension And Other Postemployment Benefits (details 2)
Pension And Other Postemployment Benefits (details 3)
Pension And Other Postemployment Benefits (details 4)
Pension And Other Postemployment Benefits (details 5)
Pension And Other Postemployment Benefits (details 6)
Pension And Other Postemployment Benefits (details 7)
Pension And Other Postemployment Benefits (details 8)
Pension And Other Postemployment Benefits (details 9)
Pension And Other Postemployment Benefits (details Textuals)
Pension And Other Postemployment Benefits (details)
Pension And Other Postemployment Benefits (tables)
Regulatory Matters
Regulatory Matters - Maryland And New Jersey (details)
Regulatory Matters - Ohio (details)
Regulatory Matters - Pennsylvania And West Virginia (details)
Regulatory Matters - Reliability And Ferc Matters (details)
Segment Information
Segment Information (details Textuals)
Segment Information (details)
Segment Information (tables)
Short-term Borrowings And Bank Lines Of Credit
Short-term Borrowings And Bank Lines Of Credit (details 1)
Short-term Borrowings And Bank Lines Of Credit (details 2)
Short-term Borrowings And Bank Lines Of Credit (details Textuals)
Short-term Borrowings And Bank Lines Of Credit (details)
Short-term Borrowings And Bank Lines Of Credit (tables)
Stock-based Compensation Plans
Stock-based Compensation Plans (details 1)
Stock-based Compensation Plans (details 2)
Stock-based Compensation Plans (details Textuals)
Stock-based Compensation Plans (details)
Stock-based Compensation Plans (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Quarterly Financial Data (unaudited)
Summary Of Quarterly Financial Data (unaudited) (details)
Summary Of Quarterly Financial Data (unaudited) (tables)
Supplemental Guarantor Information
Supplemental Guarantor Information (details 1)
Supplemental Guarantor Information (details 2)
Supplemental Guarantor Information (details)
Supplemental Guarantor Information (tables)
Taxes
Taxes (details 1)
Taxes (details 2)
Taxes (details 3)
Taxes (details 4)
Taxes (details 5)
Taxes (details Textuals)
Taxes (details)
Taxes (tables)
Transactions With Affiliated Companies
Transactions With Affiliated Companies (details)
Transactions With Affiliated Companies (tables)
Variable Interest Entities
Variable Interest Entities (details Textuals)
Variable Interest Entities (details)
Variable Interest Entities (tables)
Ticker: FE
CIK: 1031296
Form Type: 10-K Annual Report
Accession Number: 0001031296-17-000015
Submitted to the SEC: Tue Feb 21 2017 5:10:38 PM EST
Accepted by the SEC: Tue Feb 21 2017
Period: Saturday, December 31, 2016
Industry: Electric Services

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