XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2016
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION FirstEnergy's reportable segments are as follows: Regulated Distribution, Regulated Transmission, and CES. Financial information for each of FirstEnergy’s reportable segments is presented in the tables below. FES does not have separate reportable operating segments. 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 includes regulated electric generation facilities located primarily in West Virginia, Virginia and New Jersey that MP and JCP&L, respectively, own or contractually control. The segment's results reflect the commodity costs of securing electric generation and the deferral and amortization of certain fuel costs. As of June 30, 2016, this business segment controlled 3,790 MWs of generating capacity. The Regulated Transmission segment transmits electricity through transmission facilities owned and operated by ATSI, TrAIL, and certain of FirstEnergy's utilities (JCP&L, ME, PN, MP, PE and WP). This segment also includes the regulatory asset associated with the abandoned PATH project. The segment's revenues are primarily derived from forward-looking rates at ATSI and TrAIL, as well as fixed rates at certain of FirstEnergy’s utilities. Both the forward-looking and fixed rates recover costs and provide a return on transmission capital investment. Under the forward-looking rates, each of ATSI's and TrAIL’s revenue requirement is updated annually based on a projected rate base and projected costs, subject to annual true-up. Except for the recovery of the PATH abandoned project regulatory asset, the segment's revenues are primarily from transmission services provided to LSEs pursuant to the PJM Tariff. The segment's results also reflect the net transmission expenses related to the delivery of electricity on FirstEnergy's transmission facilities. The CES segment, through FES and AE Supply, primarily supplies electricity to end-use customers through retail and wholesale arrangements, including competitive retail sales to customers primarily in Ohio, Pennsylvania, Illinois, Michigan, New Jersey and Maryland, and the provision of partial POLR and default service for some utilities in Ohio, Pennsylvania and Maryland, including the Utilities. As of June 30, 2016, this business segment controlled 13,162 MWs of generating capacity. The CES segment’s net income is primarily derived from electric generation sales less the related costs of electricity generation, including fuel, purchased power and net transmission (including congestion) and ancillary costs and capacity costs charged by PJM to deliver energy to the segment’s customers. Corporate support and other businesses that do not constitute an operating segment, interest expense on stand-alone holding company debt and corporate income taxes are categorized as Corporate/Other for reportable business segment purposes. Additionally, reconciling adjustments for the elimination of inter-segment transactions are included in Corporate/Other. As of June 30, 2016, Corporate/Other had $4.2 billion of stand-alone holding company long-term debt, of which 28% was subject to variable-interest rates, and $2.8 billion was borrowed by FE under its revolving credit facility. Segment Financial Information
For the Three Months Ended |  | Regulated Distribution |  | Regulated Transmission |  | Competitive Energy Services |  | Corporate/ Other |  | Reconciling Adjustments |  | Consolidated
|  | (In millions)
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,200 |  |  | $ | 264 |  |  | $ | 1,008 |  |  | $ | (39 | ) |  | $ | (32 | ) |  | $ | 3,401 |
Internal revenues |  | — |  |  | — |  |  | 108 |  |  | — |  |  | (108 | ) |  | — |
Total revenues |  | 2,200 |  |  | 264 |  |  | 1,116 |  |  | (39 | ) |  | (140 | ) |  | 3,401 |
Depreciation |  | 170 |  |  | 44 |  |  | 103 |  |  | 17 |  |  | — |  |  | 334 |
Amortization of regulatory assets, net |  | 61 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 63 |
Impairment of assets (Note 2) |  | — |  |  | — |  |  | 1,447 |  |  | — |  |  | — |  |  | 1,447 |
Investment income |  | 13 |  |  | — |  |  | 18 |  |  | — |  |  | (12 | ) |  | 19 |
Interest expense |  | 145 |  |  | 42 |  |  | 48 |  |  | 54 |  |  | — |  |  | 289 |
Income taxes (benefits) |  | 84 |  |  | 42 |  |  | (230 | ) |  | (27 | ) |  | 1 |  |  | (130 | )
Net income (loss) |  | 146 |  |  | 71 |  |  | (1,259 | ) |  | (47 | ) |  | — |  |  | (1,089 | )
Total assets |  | 27,907 |  |  | 7,855 |  |  | 15,464 |  |  | 175 |  |  | — |  |  | 51,401 |
Total goodwill |  | 5,092 |  |  | 526 |  |  | — |  |  | — |  |  | — |  |  | 5,618 |
Property additions |  | 313 |  |  | 251 |  |  | 213 |  |  | 17 |  |  | — |  |  | 794 |
June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,239 |  |  | $ | 269 |  |  | $ | 1,034 |  |  | $ | (42 | ) |  | $ | (35 | ) |  | $ | 3,465 |
Internal revenues |  | — |  |  | — |  |  | 162 |  |  | — |  |  | (162 | ) |  | — |
Total revenues |  | 2,239 |  |  | 269 |  |  | 1,196 |  |  | (42 | ) |  | (197 | ) |  | 3,465 |
Depreciation |  | 170 |  |  | 38 |  |  | 99 |  |  | 15 |  |  | — |  |  | 322 |
Amortization of regulatory assets, net |  | 57 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 59 |
Impairment of assets |  | — |  |  | — |  |  | 16 |  |  | — |  |  | — |  |  | 16 |
Investment income (loss) |  | 12 |  |  | — |  |  | — |  |  | (5 | ) |  | (10 | ) |  | (3 | )
Interest expense |  | 146 |  |  | 40 |  |  | 48 |  |  | 49 |  |  | (1 | ) |  | 282 |
Income taxes (benefits) |  | 91 |  |  | 52 |  |  | (4 | ) |  | (22 | ) |  | (2 | ) |  | 115 |
Net income (loss) |  | 156 |  |  | 89 |  |  | (8 | ) |  | (50 | ) |  | — |  |  | 187 |
Total assets |  | 28,006 |  |  | 6,855 |  |  | 16,417 |  |  | 893 |  |  | — |  |  | 52,171 |
Total goodwill |  | 5,092 |  |  | 526 |  |  | 800 |  |  | — |  |  | — |  |  | 6,418 |
Property additions |  | 312 |  |  | 297 |  |  | 191 |  |  | 18 |  |  | — |  |  | 818 |
For the Six Months Ended |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 4,721 |  |  | $ | 539 |  |  | $ | 2,160 |  |  | $ | (81 | ) |  | $ | (69 | ) |  | $ | 7,270 |
Internal revenues |  | — |  |  | — |  |  | 260 |  |  | — |  |  | (260 | ) |  | — |
Total revenues |  | 4,721 |  |  | 539 |  |  | 2,420 |  |  | (81 | ) |  | (329 | ) |  | 7,270 |
Depreciation |  | 339 |  |  | 87 |  |  | 205 |  |  | 32 |  |  | — |  |  | 663 |
Amortization of regulatory assets, net |  | 120 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 124 |
Impairment of assets (Note 2) |  | — |  |  | — |  |  | 1,447 |  |  | — |  |  | — |  |  | 1,447 |
Investment income |  | 24 |  |  | — |  |  | 33 |  |  | 11 |  |  | (21 | ) |  | 47 |
Interest expense |  | 292 |  |  | 85 |  |  | 95 |  |  | 105 |  |  | — |  |  | 577 |
Income taxes (benefits) |  | 182 |  |  | 85 |  |  | (145 | ) |  | (40 | ) |  | 1 |  |  | 83 |
Net income (loss) |  | 311 |  |  | 145 |  |  | (1,115 | ) |  | (102 | ) |  | — |  |  | (761 | )
Property additions |  | 575 |  |  | 509 |  |  | 382 |  |  | 26 |  |  | — |  |  | 1,492 |
June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 4,801 |  |  | $ | 507 |  |  | $ | 2,209 |  |  | $ | (84 | ) |  | $ | (71 | ) |  | $ | 7,362 |
Internal revenues |  | — |  |  | — |  |  | 422 |  |  | — |  |  | (422 | ) |  | — |
Total revenues |  | 4,801 |  |  | 507 |  |  | 2,631 |  |  | (84 | ) |  | (493 | ) |  | 7,362 |
Depreciation |  | 342 |  |  | 75 |  |  | 195 |  |  | 29 |  |  | — |  |  | 641 |
Amortization of regulatory assets, net |  | 86 |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 91 |
Impairment of assets |  | — |  |  | — |  |  | 16 |  |  | — |  |  | — |  |  | 16 |
Investment income (loss) |  | 25 |  |  | — |  |  | 12 |  |  | (3 | ) |  | (20 | ) |  | 14 |
Interest expense |  | 290 |  |  | 79 |  |  | 96 |  |  | 96 |  |  | — |  |  | 561 |
Income taxes (benefits) |  | 213 |  |  | 94 |  |  | (8 | ) |  | (40 | ) |  | — |  |  | 259 |
Net income (loss) |  | 364 |  |  | 161 |  |  | (16 | ) |  | (100 | ) |  | — |  |  | 409 |
Property additions |  | 592 |  |  | 551 |  |  | 317 |  |  | 26 |  |  | — |  |  | 1,486 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration