SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Financial Information

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

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
External revenues
Regulated Distribution	$	2,484	$	2,370	$	5,253	$	4,902
Regulated Transmission	519		440		979		891
Corporate/Other	3		8		5		14
Reconciling Adjustments	—		—		—		—
Total external revenues	$	3,006	$	2,818	$	6,237	$	5,807
Internal revenues
Regulated Distribution	$	58	$	56	$	115	$	113
Regulated Transmission	1		1		2		3
Corporate/Other	—		—		—		—
Reconciling Adjustments	(59)		(57)		(117)		(116)
Total internal revenues	$	—	$	—	$	—	$	—
Total revenues	$	3,006	$	2,818	$	6,237	$	5,807
Depreciation
Regulated Distribution	$	255	$	242	$	506	$	477
Regulated Transmission	88		87		179		173
Corporate/Other	1		1		3		3
Reconciling Adjustments	17		18		34		35
Total depreciation	$	361	$	348	$	722	$	688
Amortization (deferral) of regulatory assets, net
Regulated Distribution	$	(34)	$	(127)	$	(113)	$	(165)
Regulated Transmission	1		(2)		—		(1)
Corporate/Other	—		—		—		—
Reconciling Adjustments	—		—		—		—
Total amortization (deferral) of regulatory assets, net	$	(33)	$	(129)	$	(113)	$	(166)
Equity method investment earnings
Regulated Distribution	$	—	$	—	$	—	$	—
Regulated Transmission	—		—		—		—
Corporate/Other	35		65		91		77
Reconciling Adjustments	—		—		—		—
Total equity method investment earnings	$	35	$	65	$	91	$	77
Interest expense
Regulated Distribution	$	151	$	128	$	297	$	257
Regulated Transmission	61		55		120		114
Corporate/Other	82		88		157		177
Reconciling Adjustments	(18)		(6)		(35)		(8)
Total interest expense	$	276	$	265	$	539	$	540

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
Income taxes (benefits)
Regulated Distribution	$	44	$	52	$	100	$	121
Regulated Transmission	46		39		86		80
Corporate/Other	(16)		(42)		(22)		(69)
Reconciling Adjustments	—		—		—		—
Total income taxes (benefits)	$	74	$	49	$	164	$	132
Earnings attributable to FE
Regulated Distribution	$	177	$	202	$	413	$	467
Regulated Transmission	134		123		248		248
Corporate/Other	(76)		(138)		(134)		(240)
Reconciling Adjustments	—		—		—		—
Total earnings attributable to FE	$	235	$	187	$	527	$	475
Capital investments
Regulated Distribution	$	393	$	376	$	727	$	712
Regulated Transmission	365		267		673		464
Corporate/Other	11		4		18		10
Reconciling Adjustments	—		—		—		—
Total capital investments	$	769	$	647	$	1,418	$	1,186
(In millions)	As of June 30, 2023				As of December 31, 2022
Assets
Regulated Distribution	$	32,201			$	31,749
Regulated Transmission	14,199				13,835
Corporate/Other	665				524
Reconciling Adjustments	—				—
Total assets	$	47,065			$	46,108
Goodwill
Regulated Distribution	$	5,004			$	5,004
Regulated Transmission	614				614
Corporate/Other	—				—
Reconciling Adjustments	—				—
Total goodwill	$	5,618			$	5,618