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Consolidated Statements of Income - USD ($)
$ in Thousands, shares in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES:        
Total revenues [1] $ 3,487,000 $ 3,475,000 $ 9,724,000 $ 9,282,000
OPERATING EXPENSES:        
Fuel 166,000 209,000 439,000 539,000
Purchased power 1,155,000 1,109,000 3,173,000 2,786,000
Other operating expenses 967,000 1,111,000 2,698,000 2,827,000
Provision for depreciation 366,000 332,000 1,088,000 1,020,000
Deferral of regulatory assets, net (140,000) (86,000) (253,000) (252,000)
General taxes 307,000 295,000 881,000 851,000
Total operating expenses 2,821,000 2,970,000 8,026,000 7,771,000
OPERATING INCOME 666,000 505,000 1,698,000 1,511,000
OTHER INCOME (EXPENSE):        
Debt redemption costs (Note 6) 0 1,000 (36,000) (155,000)
Equity method investment earnings (Note 1) 43,000 57,000 134,000 134,000
Miscellaneous income, net 24,000 111,000 102,000 300,000
Pension and OPEB mark-to-market adjustment (Note 4) 0 0 59,000 0
Interest expense (289,000) (248,000) (828,000) (788,000)
Capitalized financing costs 26,000 23,000 69,000 59,000
Total other expense (196,000) (56,000) (500,000) (450,000)
INCOME BEFORE INCOME TAXES   449,000 1,198,000 1,061,000
INCOME TAXES 29,000 105,000 193,000 237,000
INCOME FROM CONTINUING OPERATIONS 441,000 344,000 1,005,000 824,000
Discontinued operations (Note 1) [2] (21,000) 0 (21,000) 0
NET INCOME 420,000 344,000 984,000 824,000
Income attributable to noncontrolling interest (continuing operations) 20,000 10,000 57,000 15,000
EARNINGS ATTRIBUTABLE TO FIRSTENERGY CORP. 400,000 334,000 927,000 809,000
AMOUNTS ATTRIBUTABLE TO FIRSTENERGY CORP.:        
Earnings from continuing operations 421,000 334,000 948,000 809,000
Earnings from discontinued operations [2] (21,000) 0 (21,000) 0
EARNINGS ATTRIBUTABLE TO FIRSTENERGY CORP. $ 400,000 $ 334,000 $ 927,000 $ 809,000
EARNINGS PER SHARE ATTRIBUTABLE TO FIRSTENERGY CORP. (Note 3):        
Basic - continuing operations (in dollars per share) $ 0.74 $ 0.58 $ 1.66 $ 1.42
Basic - discontinued operations (in dollars per share) (0.04) 0 (0.04) 0
Basic (in dollars per share) 0.70 0.58 1.62 1.42
Diluted - continuing operations (in dollars per share) 0.73 0.58 1.65 1.41
Diluted - discontinued operations (in dollars per share) (0.04) 0 (0.04) 0
Diluted (in dollars per share) $ 0.69 $ 0.58 $ 1.61 $ 1.41
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 573 571 573 571
Diluted (in shares) 574 572 574 572
Distribution services and retail generation        
REVENUES:        
Total revenues $ 2,869,000 $ 2,767,000 $ 7,924,000 $ 7,334,000
Transmission        
REVENUES:        
Total revenues 508,000 502,000 1,486,000 1,393,000
Other        
REVENUES:        
Total revenues $ 110,000 $ 206,000 $ 314,000 $ 555,000
[1] Includes excise and gross receipts tax collections of $114 million and $111 million during the three months ended September 30, 2023 and 2022, respectively, and $315 million and $305 million during the nine months ended September 30, 2023 and 2022, respectively.
[2] Consists of income taxes of $21 million during the three and nine months ended September 30, 2023.