Capitalization (Tables)

12 Months Ended

Dec. 31, 2015

Capitalization, Long-term Debt and Equity [Abstract]

Preferred stock and preference stock authorizations

FirstEnergy and the Utilities were authorized to issue preferred stock and preference stock as of December 31, 2015, as follows:

	Preferred Stock			Preference Stock
	Shares Authorized	Par Value		Shares Authorized	Par Value
FirstEnergy	5,000,000	$	100
OE	6,000,000	$	100	8,000,000	no par
OE	8,000,000	$	25
Penn	1,200,000	$	100
CEI	4,000,000	no par		3,000,000	no par
TE	3,000,000	$	100	5,000,000	$	25
TE	12,000,000	$	25
JCP&L	15,600,000	no par
ME	10,000,000	no par
PN	11,435,000	no par
MP	940,000	$	100
PE	10,000,000	$	0.01
WP	32,000,000	no par

Outstanding consolidated long-term debt and other long-term obligations

The following tables present outstanding long-term debt and capital lease obligations for FirstEnergy and FES as of December 31, 2015 and 2014:

	As of December 31, 2015		As of December 31
(Dollar amounts in millions)	Maturity Date	Interest Rate	2015			2014
FirstEnergy:
FMBs	2016 - 2045	3.340% - 9.740%	$	3,269		$	3,190
Secured notes - fixed rate	2016 - 2037	0.679% - 12.000%	2,096			2,247
Secured notes - variable rate	2017 - 2017	3.500% - 3.500%	2			—
Total secured notes			2,098			2,247
Unsecured notes - fixed rate	2016 - 2045	2.150% - 7.700%	13,580			13,078
Unsecured notes - variable rate	2017 - 2020	0.010% - 2.180%	1,292			1,292
Total unsecured notes			14,872			14,370
Capital lease obligations			132			160
Unamortized debt discounts			(18		)	(8		)
Unamortized fair value adjustments			5			21
Currently payable long-term debt			(1,166		)	(804		)
Total long-term debt and other long-term obligations			$	19,192		$	19,176
FES:
Secured notes - fixed rate	2016 - 2018	5.625% - 12.000%	$	340		$	437
Secured notes - variable rate	2017 - 2017	3.500% - 3.500%	2			—
Total secured notes			342			437
Unsecured notes - fixed rate	2016 - 2039	2.150% - 6.800%	2,593			2,568
Unsecured notes - variable rate	2017 - 2017	0.010% - 0.010%	92			92
Total unsecured notes			2,685			2,660
Capital lease obligations			13			18
Unamortized debt discounts			(1		)	(1		)
Currently payable long-term debt			(512		)	(506		)
Total long-term debt and other long-term obligations			$	2,527		$	2,608

Sinking fund requirements for FMBs and maturing long-term debt (excluding capital leases and variable rate PCRBs) for the next five years

The following table presents scheduled debt repayments for outstanding long-term debt, excluding capital leases, fair value purchase accounting adjustments and unamortized debt discounts and premiums, for the next five years as of December 31, 2015. PCRBs that are scheduled to be tendered for mandatory purchase prior to maturity are reflected in the applicable year in which such PCRBs are scheduled to be tendered.

Year	FirstEnergy		FES
	(In millions)
2016	$	1,039	$	414
2017	1,733		257
2018	1,702		516
2019	2,268		322
2020	1,231		667

Outstanding PCRBs for the next three years

The following table classifies the outstanding fixed rate PCRBs and variable rate PCRBs by year, excluding unamortized debt discounts and premiums, for the next five years based on the next date on which the debt holders may exercise their right to tender their PCRBs.

Year	FirstEnergy		FES
	(In millions)
2016	$	391	$	391
2017	222		222
2018	375		375
2019	232		232
2020	490		490

Amounts and percentages of LOCs and Insurance Policies for FirstEnergy, FES and Utilities

The amounts and annual fees for PCRB-related LOCs for FirstEnergy and FES as of December 31, 2015, are as follows:

	Aggregate LOC Amount (1)		Annual Fees
	(In millions)
FirstEnergy	$	93	1.25%
FES	93		1.25%

(1) Includes approximately $1 million of applicable interest

coverage.