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Segment Information
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
FE and its subsidiaries are principally involved in the transmission, distribution and generation of electricity through its reportable segments, Regulated Distribution and Regulated Transmission.

The Regulated Distribution segment distributes electricity through FirstEnergy’s ten utility operating companies, serving approximately six million customers within 65,000 square miles of Ohio, Pennsylvania, West Virginia, Maryland, New Jersey and New York, and purchases power for its POLR, SOS, SSO and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland. This segment also controls 3,580 MWs of regulated electric generation capacity located primarily in West Virginia and Virginia. The segment’s results reflect the costs of securing and delivering electric generation from transmission facilities to customers, including the deferral and amortization of certain related costs. Included within the segment is $45 million of assets classified as held for sale as of December 31, 2020, associated with the asset purchase agreement with Yards Creek; see Note 8, “Regulatory Matters,” for additional information.
The Regulated Transmission segment provides transmission infrastructure owned and operated by the Transmission Companies and certain of FirstEnergy’s utilities (JCP&L, MP, PE and WP) to transmit electricity from generation sources to distribution facilities. The segment’s revenues are derived from forward-looking formula rates. Forward-looking rates recover costs that FERC determines are permitted to be recovered and provide a return on transmission capital investment. Under forward-looking formula rates, the revenue requirement is updated annually based on a projected rate base and projected costs, which is subject to an annual true-up based on actual costs. The segment’s results also reflect the net transmission expenses related to the delivery of electricity on FirstEnergy’s transmission facilities.
Corporate/Other reflects corporate support and other costs not charged or attributable to the Utilities or Transmission Companies, including FE’s retained Pension and OPEB assets and liabilities of the FES Debtors, interest expense on FE’s
holding company debt and other businesses that do not constitute an operating segment. Reconciling adjustments for the elimination of inter-segment transactions are shown separately in the following table of Segment Financial Information. As of September 30, 2021, 67 MWs of electric generating capacity, representing AE Supply’s OVEC capacity entitlement, was included in continuing operations of Corporate/Other. As of September 30, 2021, Corporate/Other had approximately $7.4 billion of FE holding company debt.
Financial information for each of FirstEnergy’s reportable segments is presented in the tables below:
Segment Financial Information
For the Three Months EndedRegulated DistributionRegulated TransmissionCorporate/ OtherReconciling AdjustmentsFirstEnergy Consolidated
(In millions)
September 30, 2021
External revenues$2,708 $411 $5 $— $3,124 
Internal revenues51 4 — (55)— 
Total revenues$2,759 $415 $5 $(55)$3,124 
Depreciation229 82 (1)16 326 
Amortization of regulatory assets, net29 1 — — 30 
Miscellaneous income (expense), net102 12 23 (1)136 
Interest expense133 62 89 (1)283 
Income taxes (benefits)108 23 (43)— 88 
Income (loss) from continuing operations416 70 (70)— 416 
Property additions$326 $202 $14 $— $542 
September 30, 2020
External revenues$2,611 $408 $3 $— $3,022 
Internal revenues50 5 — (55)— 
Total revenues$2,661 $413 $3 $(55)$3,022 
Depreciation223 79 — 14 316 
Deferral of regulatory assets, net(91)— — — (91)
Miscellaneous income (expense), net81 7 13 (1)100 
Interest expense124 55 88 (1)266 
Income taxes (benefits)109 35 (28)— 116 
Income (loss) from continuing operations413 115 (68)— 460 
Property additions$391 $278 $18 $— $687 
For the Nine Months Ended
September 30, 2021
External revenues$7,237 $1,223 $12 $— $8,472 
Internal revenues150 10 — (160)— 
Total revenues$7,387 $1,233 $12 $(160)$8,472 
Depreciation684 240 1 47 972 
Amortization of regulatory assets, net159 12 — — 171 
DPA penalty— — 230 — 230 
Miscellaneous income (expense), net297 34 59 (11)379 
Interest expense392 186 288 (11)855 
Income taxes (benefits)261 93 (83)— 271 
Income (loss) from continuing operations1,003 295 (489)— 809 
Property additions$993 $732 $43 $— $1,768 
September 30, 2020
External revenues$7,062 $1,185 $6 $— $8,253 
Internal revenues145 13 — (158)— 
Total revenues$7,207 $1,198 $6 $(158)$8,253 
Depreciation672 233 2 47 954 
Amortization (deferral) of regulatory assets, net(32)6 — — (26)
Miscellaneous income (expense), net246 21 45 (9)303 
Interest expense374 162 265 (9)792 
Income taxes (benefits)144 103 (125)— 122 
Income (loss) from continuing operations800 346 (355)— 791 
Property additions$1,115 $817 $47 $— $1,979 
As of September 30, 2021
Total assets$30,546 $12,660 $648 $— $43,854 
Total goodwill$5,004 $614 $— $— $5,618 
As of December 31, 2020
Total assets$30,855 $12,592 $1,017 $— $44,464 
Total goodwill$5,004 $614 $— $— $5,618