XML 13 R2.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES:        
Revenues [1] $ 2,818 $ 2,622 $ 5,807 $ 5,348
OPERATING EXPENSES:        
Fuel 190 112 330 230
Purchased power 802 614 1,677 1,332
Other operating expenses 896 718 1,716 1,470
Provision for depreciation 348 323 688 646
Amortization (deferral) of regulatory assets, net (129) 49 (166) 141
General taxes 264 264 556 537
DPA penalty (Note 8) 0 (230) 0 (230)
Gain on sale of Yards Creek (Note 9) 0 0 0 (109)
Total operating expenses 2,371 2,310 4,801 4,477
OPERATING INCOME 447 312 1,006 871
OTHER INCOME (EXPENSE):        
Debt redemption costs (Note 6) (118) 0 (156) 0
Miscellaneous income, net 160 108 266 243
Interest expense (265) (287) (540) (572)
Capitalized financing costs 17 21 36 34
Total other expense (206) (158) (394) (295)
INCOME BEFORE INCOME TAXES 241 154 612 576
INCOME TAXES 49 96 132 183
NET INCOME 192 58 480 393
Income attributable to noncontrolling interest 5 0 5 0
EARNINGS ATTRIBUTABLE TO FIRSTENERGY CORP. $ 187 $ 58 $ 475 $ 393
EARNINGS PER SHARE ATTRIBUTABLE TO FIRSTENERGY CORP. (Note 3):        
Basic - Earnings Per Share of Common Stock (in dollars per share) $ 0.33 $ 0.11 $ 0.83 $ 0.72
Diluted - Earnings Per Share to Common Stock (in dollars per share) $ 0.33 $ 0.11 $ 0.83 $ 0.72
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic, in shares 571 544 571 544
Diluted, in shares 572 545 572 545
Distribution Services and Retail Generation        
REVENUES:        
Revenues $ 2,170 $ 2,096 $ 4,567 $ 4,332
Transmission        
REVENUES:        
Revenues 440 411 891 812
Other        
REVENUES:        
Revenues $ 208 $ 115 $ 349 $ 204
[1] Includes excise and gross receipts tax collections of $91 million and $85 million during the three months ended June 30, 2022 and 2021, respectively, and $194 million and $180 million during the six months ended June 30, 2022 and 2021, respectively.