SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Financial Information

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

(In millions) For the Three Months Ended	Distribution		Integrated		Stand-Alone Transmission		Total Reportable Segments		Corporate/ Other		Reconciling Adjustments		FirstEnergy Consolidated
September 30, 2024
External revenues	$	1,806	$	1,451	$	470	$	3,727	$	2	$	—	$	3,729
Internal revenues	11		1		5		17		—		(17)		—
Total revenues	$	1,817	$	1,452	$	475	$	3,744	$	2	$	(17)	$	3,729
Depreciation	163		132		84		379		21		—		400
Amortization (deferral) of regulatory assets, net	(55)		20		2		(33)		—		—		(33)
Equity method investment earnings	—		—		—		—		21		—		21
Interest expense	106		62		70		238		80		(42)		276
Income taxes (benefits)	34		36		40		110		(16)		—		94
Earnings (losses) attributable to FE from continuing operations	193		197		72		462		(43)		—		419
Cash Flows from Investing Activities:
Capital investments	$	289	$	382	$	299	$	970	$	34	$	—	$	1,004
September 30, 2023
External revenues	$	1,786	$	1,266	$	434	$	3,486	$	1	$	—	$	3,487
Internal revenues	9		—		5		14		—		(14)		—
Total revenues	$	1,795	$	1,266	$	439	$	3,500	$	1	$	(14)	$	3,487
Depreciation	155		116		77		348		18		—		366
Amortization (deferral) of regulatory assets, net	(124)		(17)		1		(140)		—		—		(140)
Equity method investment earnings	—		—		—		—		43		—		43
Interest expense	100		67		62		229		87		(27)		289
Income taxes (benefits)	46		12		33		91		(62)		—		29
Earnings attributable to FE from continuing operations	175		145		100		420		1		—		421
Cash Flows from Investing Activities:
Capital investments	$	233	$	312	$	289	$	834	$	14	$	—	$	848
For the Nine Months Ended
September 30, 2024
External revenues	$	5,202	$	3,721	$	1,367	$	10,290	$	6	$	—	$	10,296
Internal revenues	30		4		14		48		—		(48)		—
Total revenues	$	5,232	$	3,725	$	1,381	$	10,338	$	6	$	(48)	$	10,296
Depreciation	486		386		249		1,121		57		—		1,178
Amortization (deferral) of regulatory assets, net	(152)		(58)		5		(205)		—		—		(205)
Equity method investment earnings	—		—		—		—		64		—		64
Interest expense	331		198		201		730		281		(145)		866
Income taxes (benefits)	96		107		141		344		(50)		—		294
Earnings (losses) attributable to FE from continuing operations	$	426	$	387	$	237	$	1,050	$	(333)	$	—	$	717
Cash Flows from Investing Activities:
Capital investments	$	758	$	1,045	$	875	$	2,678	$	58	$	—	$	2,736
September 30, 2023
External revenues	$	5,209	$	3,247	$	1,262	$	9,718	$	6	$	—	$	9,724
Internal revenues	30		3		13		46		—		(46)		—
Total revenues	$	5,239	$	3,250	$	1,275	$	9,764	$	6	$	(46)	$	9,724
Depreciation	464		343		226		1,033		55		—		1,088
Amortization (deferral) of regulatory assets, net	(174)		(85)		6		(253)		—		—		(253)

Equity method investment earnings	—		—		—		—		134		—		134
Interest expense	290		187		179		656		248		(76)		828
Income taxes (benefits)	122		43		102		267		(74)		—		193
Earnings (losses) attributable to FE from continuing operations	$	506	$	290	$	301	$	1,097	$	(149)	$	—	$	948
Cash Flows from Investing Activities:
Capital investments	$	662	$	824	$	747	$	2,233	$	33	$	—	$	2,266
As of September 30, 2024
Total assets	$	19,795	$	18,082	$	13,363	$	51,240	$	1,879	$	(2,363)	$	50,756
Total goodwill(1)	$	3,222	$	1,953	$	443	$	5,618	$	—	$	—	$	5,618
As of December 31, 2023
Total assets	$	19,235	$	17,466	$	12,142	$	48,843	$	2,372	$	(2,448)	$	48,767
Total goodwill(1)	$	3,222	$	1,953	$	443	$	5,618	$	—	$	—	$	5,618

(1) In accordance with GAAP, the modification to the segments in the first quarter of 2024, as discussed above, resulted in a transfer of goodwill between the segments based on the relative fair value of the reporting units, and as such, the segment goodwill balances do not necessarily represent the goodwill balances of the specific legal entities within the segments.