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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
FE and its subsidiaries are principally involved in the transmission, distribution and generation of electricity through its reportable segments, Regulated Distribution and Regulated Transmission. FirstEnergy evaluates segment performance based on Earnings attributable to FE.

The Regulated Distribution segment distributes electricity through FirstEnergy’s ten utility operating companies, serving approximately six million customers within 65,000 square miles of Ohio, Pennsylvania, West Virginia, Maryland, New Jersey and New York, and purchases power for its POLR, SOS, SSO and default service requirements in Ohio, Pennsylvania, New Jersey, and Maryland. This segment also controls 3,580 MWs of regulated electric generation capacity located primarily in West Virginia and Virginia. The segment's results reflect the costs of securing and delivering electric generation from transmission facilities to customers, including the deferral and amortization of certain related costs. The transaction to transfer TMI-2 to TMI-2 Solutions, LLC was consummated on December 18, 2020, and as a result, during the fourth quarter of 2020 FirstEnergy recognized an after-tax gain of approximately $33 million, primarily associated with the write-off of a tax related regulatory liability.

On April 6, 2020, JCP&L signed an asset purchase agreement with Yards Creek Energy, LLC, a subsidiary of LS Power to sell its 50% interest in the Yards Creek pumped-storage hydro generation facility. With the receipt of all required regulatory approvals, the transaction was consummated on March 5, 2021 and resulted in a $109 million gain within the Regulated Distribution segment in the first quarter of 2021. The gain from the transaction was applied against and reduced JCP&L’s existing regulatory
asset for previously deferred storm costs and, as a result, was offset by expense in the “Amortization (deferral) of regulatory assets, net”, line on the Consolidated Statements of Income, resulting in no earnings impact to FirstEnergy or JCP&L.

The Regulated Transmission segment provides transmission infrastructure owned and operated by the Transmission Companies and certain of FirstEnergy's utilities (JCP&L, MP, PE and WP) to transmit electricity from generation sources to distribution facilities. The segment's revenues are primarily derived from forward-looking formula rates. Under forward-looking formula rates, the revenue requirement is updated annually based on a projected rate base and projected costs, which is subject to an annual true-up based on actual rate base and costs. The segment's results also reflect the net transmission expenses related to the delivery of electricity on FirstEnergy's transmission facilities. On November 6, 2021, FirstEnergy, along with FET, entered into the FET P&SA I, with Brookfield and the Brookfield Guarantors pursuant to which FET agreed to issue and sell to Brookfield at the closing, and Brookfield agreed to purchase from FET, certain newly issued membership interests of FET, such that Brookfield would own 19.9% of the issued and outstanding membership interests of FET, for a purchase price of $2.375 billion. The transaction closed on May 31, 2022. On February 2, 2023, FE, along with FET, entered into the FET P&SA II with Brookfield and the Brookfield Guarantors, pursuant to which FE agreed to sell to Brookfield at the closing, and Brookfield agreed to purchase from FE, an incremental 30% equity interest in FET for a purchase price of $3.5 billion. The purchase price will be payable in part by the issuance of a promissory note expected to be in the principal amount of $1.75 billion. The remaining $1.75 billion of the purchase price will be payable in cash at the closing. As a result of the consummation of the transaction, Brookfield’s interest in FET will increase from 19.9% to 49.9%, while FE will retain the remaining 50.1% ownership interests of FET. The transaction is subject to customary closing conditions, including approval from the FERC and certain state utility commissions, and completion of review by the CFIUS. In addition, pursuant to the FET P&SA II, FirstEnergy has agreed to make the necessary filings with the applicable regulatory authorities for the PA Consolidation. The FET Minority Equity Interest Sale is expected to close by early 2024. Upon closing, FET will continue to be consolidated in FirstEnergy’s GAAP financial statements. KATCo, which was a subsidiary of FET, became a wholly owned subsidiary of FE prior to the closing of the FET P&SA I and remains in the Regulated Transmission segment.

Corporate/Other reflects corporate support and other costs not charged or attributable to the Utilities or Transmission Companies, including FE's retained Pension and OPEB assets and liabilities of the FES Debtors, interest expense on FE’s holding company debt and other investments or businesses that do not constitute an operating segment. Reconciling adjustments for the elimination of inter-segment transactions are shown separately in the following table of Segment Financial Information. As of December 31, 2022, 67 MWs of electric generating capacity, representing AE Supply's OVEC capacity entitlement, was also included in Corporate/Other for segment reporting. As of December 31, 2022, Corporate/Other had approximately $5.4 billion of FE holding company debt.
Financial information for FirstEnergy’s business segments and reconciliations to consolidated amounts is presented below:
For the Years Ended December 31,
(In millions)202220212020
External revenues
Regulated Distribution$10,569 $9,510 $9,168 
Regulated Transmission1,863 1,608 1,613 
Corporate/Other27 14 9 
Reconciling Adjustments— — — 
Total external revenues$12,459 $11,132 $10,790 
Internal revenues
Regulated Distribution$232 $201 $195 
Regulated Transmission5 10 17 
Corporate/Other— — — 
Reconciling Adjustments(237)(211)(212)
Total internal revenues$— $— $— 
Total revenues$12,459 $11,132 $10,790 
Depreciation
Regulated Distribution$967 $911 $896 
Regulated Transmission335 325 313 
Corporate/Other7 3 4 
Reconciling Adjustments66 63 61 
Total depreciation$1,375 $1,302 $1,274 
Amortization (deferral) of regulatory assets, net
Regulated Distribution$(362)$260 $(64)
Regulated Transmission(3)9 11 
Corporate/Other— — — 
Reconciling Adjustments— — — 
Total amortization (deferral) of regulatory assets, net$(365)$269 $(53)
DPA penalty
Corporate/Other$— $230 $— 
Total DPA penalty$— $230 $— 
Miscellaneous income (expense), net
Regulated Distribution$361 $399 $332 
Regulated Transmission36 41 30 
Corporate/Other85 58 81 
Reconciling Adjustments(67)(12)(13)
Total miscellaneous income (expense), net$415 $486 $430 
Interest expense
Regulated Distribution$526 $522 $501 
Regulated Transmission230 247 219 
Corporate/Other350 382 358 
Reconciling Adjustments(67)(12)(13)
Total interest expense$1,039 $1,139 $1,065 
Income taxes (benefits)
Regulated Distribution$251 $364 $113 
Regulated Transmission110 127 138 
Corporate/Other639 (171)(125)
Reconciling Adjustments— — — 
Total income taxes (benefits)$1,000 $320 $126 
For the Years Ended December 31,
(In millions)202220212020
Net income (loss)
Regulated Distribution$957 $1,288 $959 
Regulated Transmission394 408 464 
Corporate/Other(912)(413)(344)
Reconciling Adjustments— — — 
Total net income (loss)$439 $1,283 $1,079 
Income attributable to noncontrolling interest
Regulated Transmission$33 $— $— 
Total income attributable to noncontrolling interest$33 $— $— 
Earnings attributable to FE
Regulated Distribution$957 $1,288 $959 
Regulated Transmission361 408 464 
Corporate/Other(912)(413)(344)
Reconciling Adjustments— — — 
Total earnings attributable to FE$406 $1,283 $1,079 
Property additions
Regulated Distribution$1,513 $1,395 $1,514 
Regulated Transmission1,192 958 1,067 
Corporate/Other51 92 76 
Reconciling Adjustments— — — 
Total property additions$2,756 $2,445 $2,657 
As of December 31,
(In millions)20222021
Assets
Regulated Distribution$31,749 $30,812 
Regulated Transmission13,835 13,237 
Corporate/Other524 1,383 
Reconciling Adjustments— — 
Total assets$46,108 $45,432 
Goodwill
Regulated Distribution$5,004 $5,004 
Regulated Transmission614 614 
Corporate/Other— — 
Reconciling Adjustments— — 
Total goodwill$5,618 $5,618