Generation & Marketing includes our competitive generating, marketing and risk management activities. This business operates mainly in the Electric Reliability Council of Texas area and, to a smaller degree, in the PJM and Midwest Independent Transmission System Operator transmission regions in our eastern footprint. Ongoing net income declined $11 million to $14 million in 2011, primarily because of reduced generating unit availability, lower power prices and trading. GAAP net income was $14 million in 2011, down from $25 million in 2010.

Other Business Operations
All other AEP business operations, which include the parent company and other investments, were comparable to 2010 with a loss of $40 million on an ongoing basis in 2011 versus a loss of $43 million in 2010.