FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured on Recurring Basis

The following tables set forth the recurring assets and liabilities that are accounted for at fair value by level within the fair value hierarchy:

	December 31, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(In millions)
Derivative assets FTRs(1)	$	—	$	—	$	4	$	4	$	—	$	—	$	11	$	11
Equity securities	2		—		—		2		2		—		—		2
U.S. state debt securities	—		275		—		275		—		266		—		266
Cash, cash equivalents and restricted cash(2)	179		—		—		179		206		—		—		206
Other(3)	—		40		—		40		—		40		—		40
Total assets	$	181	$	315	$	4	$	500	$	208	$	306	$	11	$	525
Liabilities
Derivative liabilities FTRs(1)	$	—	$	—	$	(1)	$	(1)	$	—	$	—	$	(2)	$	(2)
Total liabilities	$	—	$	—	$	(1)	$	(1)	$	—	$	—	$	(2)	$	(2)
Net assets (liabilities)	$	181	$	315	$	3	$	499	$	208	$	306	$	9	$	523

(1) Contracts are subject to regulatory accounting treatment and changes in market values do not impact earnings.

(2) Restricted cash of $42 million and $46 million as of December 31, 2023 and 2022, respectively, primarily relates to cash collected from MP, PE and the Ohio Companies' customers that is specifically used to service debt of their respective funding companies. See Note 11, Capitalization for additional information.

(3) Primarily consists of short-term investments.

Schedule of Amortized Cost Basis, Unrealized Gains and Losses and Fair Values of Investments in Available-for-sale Securities

The following table summarizes the amortized cost basis, unrealized gains, unrealized losses and fair values of investments held in nuclear fuel disposal trusts as of December 31, 2023 and 2022:

	December 31, 2023(1)								December 31, 2022(2)
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value		Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
	(In millions)
Debt securities	$	301	$	1	$	(27)	$	275	$	294	$	—	$	(28)	$	266

(1) Excludes short-term cash investments of $6 million.

(2) Excludes short-term cash investments of $5 million.

Schedule of Proceeds from the Sale of Investments in Available-for-sale Debt Securities

Proceeds from the sale of investments in AFS debt securities, realized gains and losses on those sales and interest and dividend income for the years ended December 31, 2023, 2022 and 2021, were as follows:

	For the Years Ended December 31,
	2023		2022		2021
	(In millions)
Sale Proceeds	$	38	$	48	$	48
Realized Gains	—		8		—
Realized Losses	(3)		(13)		(3)
Interest and Dividend Income	12		11		11

Schedule of Fair Value and Related Carrying Amounts of Long-term Debt

The following table provides the approximate fair value and related carrying amounts of long-term debt, which excludes finance lease obligations and net unamortized debt issuance costs, unamortized fair value adjustments, premiums and discounts as of December 31, 2023 and 2022:

	As of December 31,
	2023		2022
	(In millions)
Carrying Value	$	24,254	$	21,641
Fair Value	23,003		19,784