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Organization and Basis of Presentation (Tables)
 12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Regulatory assets on the Balance Sheets
The following table provides information about the composition of net regulatory assets as of December 31, 2016 and December 31, 2015, and the changes during the year ended December 31, 2016:

Regulatory Assets by Source
 
December 31,
2016
 
December 31,
2015
 
Increase
(Decrease)
 
 
(In millions)
Regulatory transition costs
 
$
90

 
$
185

 
$
(95
)
Customer receivables for future income taxes
 
444

 
355

 
89

Nuclear decommissioning and spent fuel disposal costs
 
(304
)
 
(272
)
 
(32
)
Asset removal costs
 
(470
)
 
(372
)
 
(98
)
Deferred transmission costs
 
127

 
115

 
12

Deferred generation costs
 
215

 
243

 
(28
)
Deferred distribution costs
 
296

 
335

 
(39
)
Contract valuations
 
153

 
186

 
(33
)
Storm-related costs
 
353

 
403

 
(50
)
Other
 
110

 
170

 
(60
)
Net Regulatory Assets included on the Consolidated Balance Sheets
 
$
1,014

 
$
1,348

 
$
(334
)
Receivables from customers
Billed and unbilled customer receivables as of December 31, 2016 and 2015 are included below.
Customer Receivables
 
FirstEnergy
 
FES
 
 
(In millions)
December 31, 2016
 
 
 
 
Billed
 
$
833

 
$
123

Unbilled
 
607

 
90

Total
 
$
1,440

 
$
213

 
 
 
 
 
December 31, 2015
 
 
 
 
Billed
 
$
836

 
$
165

Unbilled
 
579

 
110

Total
 
$
1,415

 
$
275
Reconciliation of basic and diluted earnings per share
The following table reconciles basic and diluted earnings (loss) per share of common stock:
Reconciliation of Basic and Diluted Earnings (Loss) per Share of Common Stock
 
2016
 
2015
 
2014
 
 
(In millions, except per share amounts)
 
 
 
 
 
 
 
Income (loss) from continuing operations available to common shareholders
 
$
(6,177
)
 
$
578

 
$
213

Discontinued operations (Note 20)
 
—

 
—

 
86

Net income (loss)
 
$
(6,177
)
 
$
578

 
$
299

 
 
 
 
 
 
 
Weighted average number of basic shares outstanding
 
426

 
422

 
420

Assumed exercise of dilutive stock options and awards(1)
 
—

 
2

 
1

Weighted average number of diluted shares outstanding
 
426

 
424

 
421

 
 
 
 
 
 
 
Earnings (loss) per share:
 
 
 
 
 
 
Basic earnings (loss) per share:
 
 
 
 
 
 
Continuing operations
 
$
(14.49
)
 
$
1.37

 
$
0.51

Discontinued operations (Note 20)
 
—

 
—

 
0.20

Earnings (loss) per basic share
 
$
(14.49
)
 
$
1.37

 
$
0.71

 
 
 
 
 
 
 
Diluted earnings (loss) per share:
 
 
 
 
 
 
Continuing operations
 
$
(14.49
)
 
$
1.37

 
$
0.51

Discontinued operations (Note 20)
 
—

 
—

 
0.20

Earnings (loss) per diluted share
 
$
(14.49
)
 
$
1.37

 
$
0.71



(1)
For the year ended December 31, 2016, approximately three million shares were excluded from the calculation of diluted shares outstanding, as their inclusion would be antidilutive as a result of the net loss for the period. For the years ended December 31, 2015 and 2014, approximately one million and two million shares were excluded from the calculation of diluted shares outstanding, respectively, as their inclusion would be antidilutive.
Property, plant and equipment balances
balances by segment as of December 31, 2016 and 2015 were as follows:
 
 
December 31, 2016
Property, Plant and Equipment
 
In Service(1)
 
Accum. Depr.
 
Net Plant
 
CWIP
 
Total PP&E
 
 
(In millions)
Regulated Distribution(2)
 
$
24,979

 
$
(7,169
)
 
$
17,810

 
$
472

 
$
18,282

Regulated Transmission(2)
 
9,342

 
(1,948
)
 
7,394

 
383

 
7,777

Competitive Energy Services(3)
 
8,680

 
(6,267
)
 
2,413

 
453

 
2,866

Corporate/Other
 
766

 
(347
)
 
419

 
43

 
462

Total
 
$
43,767

 
$
(15,731
)
 
$
28,036

 
$
1,351

 
$
29,387



 
 
December 31, 2015
Property, Plant and Equipment
 
In Service(1)
 
Accum. Depr.
 
Net Plant
 
CWIP
 
Total PP&E
 
 
(In millions)
Regulated Distribution(2)
 
$
24,034

 
$
(6,865
)
 
$
17,169

 
$
530

 
$
17,699

Regulated Transmission(2)
 
8,222

 
(1,840
)
 
6,382

 
484

 
6,866

Competitive Energy Services(3)
 
17,214

 
(6,213
)
 
11,001

 
1,304

 
12,305

Corporate/Other
 
482

 
(242
)
 
240

 
104

 
344

Total
 
$
49,952

 
$
(15,160
)
 
$
34,792

 
$
2,422

 
$
37,214


(1) Includes capital leases of $244 million and $253 million at December 31, 2016 and 2015, respectively.
(2) Net plant in service of $326 million as of December 31, 2015 was reclassified to conform to the current presentation reflecting the transfer of certain transmission assets from Regulated Distribution to Regulated Transmission during the fourth quarter of 2016. See "Note 19, Segment Information", for more information.
(3) Primarily consists of generating assets and nuclear fuel as discussed above.
Property, plant and equipment balances for FES as of December 31, 2016 and 2015 were as follows:
 
 
December 31, 2016
Property, Plant and Equipment
 
In Service
 
Accum. Depr.
 
Net Plant
 
CWIP
 
Total PP&E
 
 
(In millions)
Fossil Generation
 
$
2,212

 
$
(1,720
)
 
$
492

 
$
63

 
$
555

Nuclear Generation
 
2,065

 
(1,723
)
 
342

 
118

 
460

Nuclear Fuel
 
2,637

 
(2,418
)
 
219

 
241

 
460

Other
 
143

 
(68
)
 
75

 
5

 
80

Total
 
$
7,057

 
$
(5,929
)
 
$
1,128

 
$
427

 
$
1,555


 
 
December 31, 2015
Property, Plant and Equipment
 
In Service
 
Accum. Depr.
 
Net Plant
 
CWIP
 
Total PP&E
 
 
(In millions)
Fossil Generation
 
$
5,911

 
$
(1,937
)
 
$
3,974

 
$
218

 
$
4,192

Nuclear Generation
 
5,617

 
(1,574
)
 
4,043

 
512

 
4,555

Nuclear Fuel
 
2,616

 
(2,198
)
 
418

 
283

 
701

Other
 
167

 
(56
)
 
111

 
144

 
255

Total
 
$
14,311

 
$
(5,765
)
 
$
8,546

 
$
1,157

 
$
9,703
Annual composite rates
The respective annual composite rates for FirstEnergy's and FES' electric plant in 2016, 2015 and 2014 are shown in the following table:
 
 
Annual Composite Depreciation Rate
 
 
2016
 
2015
 
2014
FirstEnergy
 
2.5
%
 
2.5
%
 
2.5
%
FES
 
3.3
%
 
3.2
%
 
3.1
%
Summary of changes in goodwill
FirstEnergy's reporting units are consistent with its reportable segments and consist of Regulated Distribution, Regulated Transmission, and CES. The following table presents the changes in the carrying value of goodwill for the year ended December 31, 2016:
Goodwill
 
Regulated Distribution
 
Regulated Transmission
 
Competitive Energy Services
 
Consolidated
 
 
(In millions)
Balance as of December 31, 2015
 
$
5,092

 
$
526

 
$
800

 
$
6,418

Impairment
 
—

 
—

 
(800
)
 
(800
)
Transmission Segment (1)
 
(88
)
 
88

 
—

 
—

Balance as of December 31, 2016
 
$
5,004

 
$
614

 
$
—

 
$
5,618



(1) See Note 19, Segment Information for discussion of transfer of certain transmission assets from the Regulated Distribution segment to the Regulated Transmission segment during the fourth quarter of 2016, resulting in the transfer of $88 million of goodwill between the segments based on the relative fair value of the transmission assets to fair value of the Regulated Distribution segment.