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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES:      
Total revenues [1] $ 12,459 $ 11,132 $ 10,790
OPERATING EXPENSES:      
Fuel 730 481 369
Purchased power 3,863 2,964 2,701
Other operating expenses 3,817 3,196 3,291
Provision for depreciation 1,375 1,302 1,274
Amortization (deferral) of regulatory assets, net (365) 269 (53)
General taxes 1,129 1,073 1,046
DPA penalty (Note 13) 0 230 0
Gain on sale of Yards Creek (Note 14) 0 (109) 0
Total operating expenses 10,549 9,406 8,628
OPERATING INCOME 1,910 1,726 2,162
OTHER INCOME (EXPENSE):      
Debt redemption costs (Note 10) (171) (2) 0
Equity method investment earnings (Note 1) 168 31 2
Miscellaneous income, net 415 486 430
Pension and OPEB mark-to-market adjustment 72 382 (477)
Interest expense (1,039) (1,139) (1,065)
Capitalized financing costs 84 75 77
Total other expense (471) (167) (1,033)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 1,439 1,559 1,129
INCOME TAXES 1,000 320 126
INCOME FROM CONTINUING OPERATIONS 439    
Discontinued operations (Note 15) [2] 0 44 76
NET INCOME 439 1,283 1,079
Income attributable to noncontrolling interest (continuing operations) 33 0 0
EARNINGS ATTRIBUTABLE TO FIRSTENERGY CORP. $ 406 $ 1,283 $ 1,079
EARNINGS PER SHARE ATTRIBUTABLE TO FIRSTENERGY CORP.      
Basic - Income from continuing operations, basic (in dollars per share) $ 0.71 $ 2.27 $ 1.85
Basic - Discontinued operations, basic (in dollars per share) 0 0.08 0.14
Basic - EPS (in dollars per share) 0.71 2.35 1.99
Diluted - Income from continuing operations, diluted (in dollars per share) 0.71 2.27 1.85
Diluted - Discontinued operations, diluted (in dollars per share) 0 0.08 0.14
Diluted - EPS (in dollars per share) $ 0.71 $ 2.35 $ 1.99
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:      
Weighted average number of basic shares outstanding (in shares) 571 545 542
Weighted average number of diluted shares outstanding (in shares) 572 546 543
Distribution services and retail generation      
REVENUES:      
Total revenues $ 9,916 $ 9,009 $ 8,688
Transmission      
REVENUES:      
Total revenues 1,863 1,608 1,613
Other      
REVENUES:      
Total revenues $ 680 $ 515 $ 489
[1] Includes excise and gross receipts tax collections of $406 million, $374 million and $362 million in 2022, 2021 and 2020, respectively.
[2] Net of income tax benefit of $48 million and $59 million in 2021 and 2020, respectively.