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CAPITALIZATION (Tables)
 12 Months Ended
Dec. 31, 2020
Capitalization, Long-term Debt and Equity [Abstract]  
Preferred stock and preference stock authorizations
FirstEnergy and the Utilities were authorized to issue preferred stock and preference stock as of December 31, 2020, as follows:
Preferred StockPreference Stock
Shares AuthorizedPar ValueShares AuthorizedPar Value
FE5,000,000 $100   
OE6,000,000 $100 8,000,000 no par
OE8,000,000 $25   
Penn1,200,000 $100   
CEI4,000,000 no par3,000,000 no par
TE3,000,000 $100 5,000,000 $25 
TE12,000,000 $25 
JCP&L15,600,000 no par
ME10,000,000 no par
PN11,435,000 no par
MP940,000 $100 
PE10,000,000 $0.01 
WP32,000,000 no par
Outstanding consolidated long-term debt and other long-term obligations
The following tables present outstanding long-term debt and finance lease obligations for FirstEnergy as of December 31, 2020 and 2019:
As of December 31, 2020As of December 31,
(Dollar amounts in millions)Maturity DateInterest Rate20202019
FMBs and secured notes - fixed rate2021-2059
2.670% - 8.250%
$4,802 $4,741 
Unsecured notes - fixed rate2022-2050
1.600% - 7.375%
17,575 14,575 
Unsecured notes - variable rate— 750 
Finance lease obligations45 60 
Unamortized debt discounts(34)(33)
Unamortized debt issuance costs(118)(103)
Unamortized fair value adjustments7 8 
Currently payable long-term debt(146)(380)
Total long-term debt and other long-term obligations$22,131 $19,618 
Sinking fund requirements for FMBs and maturing long-term debt (excluding capital leases and variable rate PCRBs) for the next five years
The following table presents scheduled debt repayments for outstanding long-term debt, excluding finance leases, fair value purchase accounting adjustments and unamortized debt discounts and premiums, for the next five years as of December 31, 2020. PCRBs that are scheduled to be tendered for mandatory purchase prior to maturity are reflected in the applicable year in which such PCRBs are scheduled to be tendered.
Year
 (In millions)
2021$132 
2022$1,143 
2023$1,194 
2024$1,246 
2025$2,023