SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Financial Information

Financial information for FirstEnergy’s business segments and reconciliations to consolidated amounts is presented below:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022
External revenues
Regulated Distribution	$	2,978	$	2,965	$	8,231	$	7,867
Regulated Transmission	508		503		1,487		1,394
Corporate/Other	1		7		6		21
Reconciling Adjustments	—		—		—		—
Total external revenues	$	3,487	$	3,475	$	9,724	$	9,282
Internal revenues
Regulated Distribution	$	56	$	58	$	171	$	171
Regulated Transmission	1		—		3		3
Corporate/Other	—		—		—		—
Reconciling Adjustments	(57)		(58)		(174)		(174)
Total internal revenues	$	—	$	—	$	—	$	—
Total revenues	$	3,487	$	3,475	$	9,724	$	9,282
Depreciation
Regulated Distribution	$	256	$	242	$	762	$	719
Regulated Transmission	93		72		272		245
Corporate/Other	—		3		3		6
Reconciling Adjustments	17		15		51		50
Total depreciation	$	366	$	332	$	1,088	$	1,020
Deferral of regulatory assets, net
Regulated Distribution	$	(136)	$	(85)	$	(249)	$	(250)
Regulated Transmission	(4)		(1)		(4)		(2)
Corporate/Other	—		—		—		—
Reconciling Adjustments	—		—		—		—
Total deferral of regulatory assets, net	$	(140)	$	(86)	$	(253)	$	(252)
Equity method investment earnings
Regulated Distribution	$	—	$	—	$	—	$	—
Regulated Transmission	—		—		—		—
Corporate/Other	43		57		134		134
Reconciling Adjustments	—		—		—		—
Total equity method investment earnings	$	43	$	57	$	134	$	134
Interest expense
Regulated Distribution	$	159	$	132	$	456	$	389
Regulated Transmission	65		41		185		155
Corporate/Other	87		99		244		276
Reconciling Adjustments	(22)		(24)		(57)		(32)
Total interest expense	$	289	$	248	$	828	$	788

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022
Income taxes (benefits)
Regulated Distribution	$	70	$	92	$	170	$	213
Regulated Transmission	45		5		131		85
Corporate/Other	(86)		8		(108)		(61)
Reconciling Adjustments	—		—		—		—
Total income taxes (benefits)	$	29	$	105	$	193	$	237
Earnings (losses) attributable to FE from continuing operations
Regulated Distribution	$	275	$	361	$	688	$	828
Regulated Transmission	123		27		371		275
Corporate/Other	23		(54)		(111)		(294)
Reconciling Adjustments	—		—		—		—
Total earnings attributable to FE from continuing operations	$	421	$	334	$	948	$	809
Cash Flows From Investing Activities:
Capital investments
Regulated Distribution	$	409	$	415	$	1,136	$	1,127
Regulated Transmission	424		236		1,097		700
Corporate/Other	15		15		33		25
Reconciling Adjustments	—		—		—		—
Total capital investments	$	848	$	666	$	2,266	$	1,852
(In millions)	As of September 30, 2023				As of December 31, 2022
Assets
Regulated Distribution	$	32,434			$	31,749
Regulated Transmission	14,454				13,835
Corporate/Other	583				524
Reconciling Adjustments	—				—
Total assets	$	47,471			$	46,108
Goodwill
Regulated Distribution	$	5,004			$	5,004
Regulated Transmission	614				614
Corporate/Other	—				—
Reconciling Adjustments	—				—
Total goodwill	$	5,618			$	5,618