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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES:        
Total revenues [1] $ 3,006 $ 2,818 $ 6,237 $ 5,807
OPERATING EXPENSES:        
Fuel 140 190 273 330
Purchased power 894 802 2,018 1,677
Other operating expenses 885 896 1,731 1,716
Provision for depreciation 361 348 722 688
Deferral of regulatory assets, net (33) (129) (113) (166)
General taxes 278 264 574 556
Total operating expenses 2,525 2,371 5,205 4,801
OPERATING INCOME 481 447 1,032 1,006
OTHER INCOME (EXPENSE):        
Debt redemption costs (Note 6) (36) (118) (36) (156)
Equity method investment earnings (Note 1) 35 65 91 77
Miscellaneous income, net 43 95 78 189
Pension and OPEB mark-to-market adjustment (Note 4) 59 0 59 0
Interest expense (276) (265) (539) (540)
Capitalized financing costs 22 17 43 36
Total other expense (153) (206) (304) (394)
INCOME BEFORE INCOME TAXES 328 241 728 612
INCOME TAXES 74 49 164 132
NET INCOME 254 192 564 480
Income attributable to noncontrolling interest 19 5 37 5
EARNINGS ATTRIBUTABLE TO FIRSTENERGY CORP. $ 235 $ 187 $ 527 $ 475
EARNINGS PER SHARE ATTRIBUTABLE TO FIRSTENERGY CORP. (Note 3):        
Basic - Earnings Per Share Attributable to FirstEnergy Corp. (in dollars per share) $ 0.41 $ 0.33 $ 0.92 $ 0.83
Diluted - Earnings Per Share Attributable to FirstEnergy Corp. (in dollars per share) $ 0.41 $ 0.33 $ 0.92 $ 0.83
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 573 571 573 571
Diluted (in shares) 574 572 574 572
Distribution Services and Retail Generation        
REVENUES:        
Total revenues $ 2,375 $ 2,170 $ 5,055 $ 4,567
Transmission        
REVENUES:        
Total revenues 518 440 978 891
Other        
REVENUES:        
Total revenues $ 113 $ 208 $ 204 $ 349
[1] Includes excise and gross receipts tax collections of $92 million and $91 million during the three months ended June 30, 2023 and 2022, respectively, and $201 million and $194 million during the six months ended June 30, 2023 and 2022, respectively.