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Capitalization (Tables)
 12 Months Ended
Dec. 31, 2016
Capitalization, Long-term Debt and Equity [Abstract]  
Preferred stock and preference stock authorizations
FirstEnergy and the Utilities were authorized to issue preferred stock and preference stock as of December 31, 2016, as follows:
 
 
Preferred Stock
 
Preference Stock
 
 
Shares Authorized
 
Par Value
 
Shares Authorized
 
Par Value
FirstEnergy
 
5,000,000

 
$
100

 
 

 
 

OE
 
6,000,000

 
$
100

 
8,000,000

 
no par

OE
 
8,000,000

 
$
25

 
 

 
 

Penn
 
1,200,000

 
$
100

 
 

 
 

CEI
 
4,000,000

 
no par

 
3,000,000

 
no par

TE
 
3,000,000

 
$
100

 
5,000,000

 
$
25

TE
 
12,000,000

 
$
25

 
 
 
 
JCP&L
 
15,600,000

 
no par

 
 
 
 
ME
 
10,000,000

 
no par

 
 
 
 
PN
 
11,435,000

 
no par

 
 
 
 
MP
 
940,000

 
$
100

 
 
 
 
PE
 
10,000,000

 
$
0.01

 
 
 
 
WP
 
32,000,000

 
no par

 
 
 
 
Outstanding consolidated long-term debt and other long-term obligations
The following tables present outstanding long-term debt and capital lease obligations for FirstEnergy and FES as of December 31, 2016 and 2015:

 
 
As of December 31, 2016
 
As of December 31
(Dollar amounts in millions)
 
Maturity Date
 
Interest Rate
 
2016
 
2015
FirstEnergy:
 
 
 
 
 
 
 
 
FMBs
 
2017 - 2056
 
3.340% - 9.740%
 
$
3,328

 
$
3,269

Secured notes - fixed rate
 
2017 - 2037
 
0.679% - 12.000%
 
2,295

 
2,096

Secured notes - variable rate
 
2017
 
3.500%
 
10

 
2

Total secured notes
 
 
 
 
 
2,305

 
2,098

Unsecured notes - fixed rate
 
2017 - 2045
 
2.150% - 7.700%
 
13,058

 
13,580

Unsecured notes - variable rate
 
2021
 
2.430%
 
1,200

 
1,292

Total unsecured notes
 
 
 
 
 
14,258

 
14,872

Capital lease obligations
 
 
 
 
 
104

 
132

Unamortized debt discounts
 
 
 
 
 
(25
)
 
(18
)
Unamortized debt issuance costs
 
 
 
 
 
(87
)
 
(93
)
Unamortized fair value adjustments
 
 
 
 
 
(6
)
 
5

Currently payable long-term debt
 
 
 
 
 
(1,685
)
 
(1,166
)
Total long-term debt and other long-term obligations
 
 
 
 
 
$
18,192

 
$
19,099

 
 
 
 
 
 
 
 
 
FES:
 
 
 
 
 
 
 
 
Secured notes - fixed rate
 
2017 - 2022
 
4.250% - 12.000%
 
$
617

 
$
340

Secured notes - variable rate
 
2017
 
3.500%
 
10

 
2

Total secured notes
 
 
 
 
 
627

 
342

Unsecured notes - fixed rate
 
2017 - 2039
 
2.150% - 6.800%
 
2,373

 
2,593

Unsecured notes - variable rate
 

 

 
—

 
92

Total unsecured notes
 
 
 
 
 
2,373

 
2,685

Capital lease obligations
 
 
 
 
 
8

 
13

Unamortized debt discounts
 
 
 
 
 
(1
)
 
(1
)
Unamortized debt issuance costs
 
 
 
 
 
(15
)
 
(17
)
Currently payable long-term debt
 
 
 
 
 
(179
)
 
(512
)
Total long-term debt and other long-term obligations
 
 
 
 
 
$
2,813

 
$
2,510

 
 
 
 
 
 
 
 
 
Sinking fund requirements for FMBs and maturing long-term debt (excluding capital leases and variable rate PCRBs) for the next five years
The following table presents scheduled debt repayments for outstanding long-term debt, excluding capital leases, fair value purchase accounting adjustments and unamortized debt discounts and premiums, for the next five years as of December 31, 2016. PCRBs that are scheduled to be tendered for mandatory purchase prior to maturity are reflected in the applicable year in which such PCRBs are scheduled to be tendered.
Year
 
FirstEnergy
 
FES
 
 
(In millions)
2017
 
$
1,641

 
$
163

2018
 
1,702

 
516

2019
 
2,266

 
478

2020
 
1,231

 
667

2021
 
832

 
774
Outstanding PCRBs for the next three years
The following table classifies these PCRBs by year, excluding unamortized debt discounts and premiums, for the next five years based on the next date on which the debt holders may exercise their right to tender their PCRBs.
Year
 
FirstEnergy
 
FES
 
 
(In millions)
2017
 
$
130

 
$
130

2018
 
375

 
375

2019
 
232

 
232

2020
 
490

 
490

2021
 
342

 
342