Item 16. FORM 10-K SUMMARY
5K characters. Original on sec.gov ·
Item 16. FORM 10-K SUMMARY
None.
SCHEDULE II
FIRSTENERGY CORP.
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS
FOR THE YEARS ENDED DECEMBER 31, 2018, 2017 AND 2016
| Additions | ||||||||||||||||||||
| Description | Beginning Balance | Charged to Income | Charged to Other Accounts | (1) | Deductions | (2) | Ending Balance | |||||||||||||
| (In thousands) | ||||||||||||||||||||
| Year Ended December 31, 2018 (4): | ||||||||||||||||||||
| Accumulated provision for uncollectible accounts — customers | $ | 48,937 | $ | 77,254 | $ | 60,307 | $ | 136,700 | $ | 49,798 | ||||||||||
| — other | 990 | 12,487 | — | 11,699 | 1,778 | |||||||||||||||
| — affiliated companies (5) | $ | — | $ | 919,851 | $ | 919,851 | ||||||||||||||
| Valuation allowance on various DTAs (3) | $ | 312,135 | $ | 81,977 | $ | — | $ | — | $ | 394,112 | ||||||||||
| Year Ended December 31, 2017(4): | ||||||||||||||||||||
| Accumulated provision for uncollectible accounts — customers | $ | 48,409 | $ | 73,486 | $ | 49,728 | $ | 122,686 | $ | 48,937 | ||||||||||
| — other | 884 | 6,461 | — | 6,355 | 990 | |||||||||||||||
| Valuation allowance on state and local DTAs | $ | 240,289 | $ | 71,846 | $ | — | $ | — | $ | 312,135 | ||||||||||
| Year Ended December 31, 2016 (4): | ||||||||||||||||||||
| Accumulated provision for uncollectible accounts — customers | $ | 60,309 | $ | 76,953 | $ | 15,222 | $ | 104,075 | $ | 48,409 | ||||||||||
| — other | 2,731 | 13,597 | 11,329 | 26,773 | 884 | |||||||||||||||
| Valuation allowance on state and local DTAs | $ | 146,589 | $ | 93,700 | $ | — | $ | — | $ | 240,289 |
| (1) | Represents recoveries and reinstatements of accounts previously written off for uncollectible accounts. |
| (2) | Represents the write-off of accounts considered to be uncollectible. |
| (3) | Starting in 2018, valuation allowances are now being recorded against federal and state DTA's related to disallowed business interest and certain employee remuneration, in addition to the state and local DTA's in the prior years presented. |
| (4) | Amounts exclude FES and FENOC. |
| (5) | Amounts relate to FES and FENOC and are included in discontinued operations. See Note 3, "Discontinued Operations" for additional information. |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| FIRSTENERGY CORP. | |||
| BY: | /s/ Charles E. Jones | ||
| Charles E. Jones | |||
| President and Chief Executive Officer |
Date: February 19, 2019
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated:
| /s/ Charles E. Jones | |||
| Charles E. Jones | |||
| President and Chief Executive Officer and Director | |||
| (Principal Executive Officer) | |||
| /s/ Donald T. Misheff | |||
| Donald T. Misheff | |||
| Director | |||
| (Non-Executive Chairman of Board) | |||
| /s/ Steven E. Strah | /s/ Jason J. Lisowski | ||
| Steven E. Strah | Jason J. Lisowski | ||
| Senior Vice President and Chief Financial Officer | Vice President, Controller and Chief Accounting Officer | ||
| (Principal Financial Officer) | (Principal Accounting Officer) | ||
| /s/ Paul T. Addison | /s/ Christopher D. Pappas | ||
| Paul T. Addison | Christopher D. Pappas | ||
| Director | Director | ||
| /s/ Michael J. Anderson | /s/ Sandra Pianalto | ||
| Michael J. Anderson | Sandra Pianalto | ||
| Director | Director | ||
| /s/ Steven J. Demetriou | /s/ Luis A. Reyes | ||
| Steven J. Demetriou | Luis A. Reyes | ||
| Director | Director | ||
| /s/ Julia L. Johnson | /s/ Jerry Sue Thornton | ||
| Julia L. Johnson | Jerry Sue Thornton | ||
| Director | Director | ||
| /s/ Thomas N. Mitchell | /s/ Leslie M. Turner | ||
| Thomas N. Mitchell | Leslie M. Turner | ||
| Director | Director | ||
| /s/ James F. O'Neil III | |||
| James F. O'Neil III | |||
| Director | |||
Date: February 19, 2019
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