DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations

Summarized results of discontinued operations for the years ended December 31, 2023, 2022, and 2021 were as follows:

	For the Years Ended December 31,
(In millions)	2023		2022		2021
Other expense, net	—		—		(4)
Loss from discontinued operations, before tax	—		—		(4)
Income tax benefit	—		—		(1)
Loss from discontinued operations, net of tax	—		—		(3)
Income tax expense (benefit), including worthless stock deduction	21		—		(47)
Gain (loss) on disposal, net of tax	(21)		—		47
Income (loss) from discontinued operations(1)	$	(21)	$	—	$	44

(1) Income from discontinued operations is included in Corporate/Other.

On February 27, 2020, the FES Debtors emerged from bankruptcy and were deconsolidated from FirstEnergy’s consolidated federal income tax group. The bankruptcy, emergence and deconsolidation resulted in FirstEnergy recognizing certain income tax benefits and charges, which were classified as discontinued operations. During the third quarter of 2023, FirstEnergy recognized a $21 million tax-effected charge to income tax expense as a result of identifying an out of period adjustment related to the allocation of certain deferred income tax liabilities associated with the FES Debtors and their tax return deconsolidation in 2020. This adjustment was immaterial to the 2023 and prior period financial statements.

FirstEnergy's Consolidated Statements of Cash Flows combines cash flows from discontinued operations with cash flows from continuing operations within each cash flow category. The following table summarizes the major classes of cash flow items from discontinued operations for the years ended December 31, 2023, 2022 and 2021:

	For the Years Ended December 31,
(In millions)	2023		2022		2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Income (loss) from discontinued operations	$	(21)	$	—	$	44
Loss (gain) on disposal, net of tax	21		—		(47)