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Segment Information | 6 Months Ended
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Jun. 30, 2017
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 controls 3,790 MWs of regulated electric generation capacity located primarily in West Virginia, Virginia and New Jersey. The segment's results reflect the commodity costs of securing electric generation and the deferral and amortization of certain fuel costs. The Regulated Transmission segment transmits electricity through transmission facilities owned and operated by ATSI, TrAIL, MAIT (effective January 31, 2017) and certain of FirstEnergy's utilities (JCP&L, MP, PE and WP). The segment's revenues are primarily derived from forward-looking rates at ATSI and TrAIL, as well as stated transmission rates at certain of FirstEnergy’s utilities. As discussed in Note 10, "Regulatory Matters - FERC Matters" above, MAIT and JCP&L submitted applications to FERC requesting authorization to implement forward-looking formula transmission rates. In March 2017, FERC approved JCP&L's and MAIT's forward-looking formula rate with effective dates of June 1, 2017, and July 1, 2017, respectively, both subject to refund pending further FERC hearing and settlement procedures. Both the forward-looking and stated rates recover costs and provide a return on transmission capital investment. Under forward-looking rates, the revenue requirement is updated annually based on a projected rate base and projected costs, which is subject to an annual true-up based on actual costs. 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, 2017, this business segment controlled 13,162 MWs of electric generating capacity, including, as discussed in Note 14, "Asset Impairments," 1,572 MWs of natural gas and hydroelectric generating capacity subject to an asset purchase agreement with a subsidiary of LS Power and the 1,300 MW Pleasants power station subject to an asset purchase agreement with MP resulting from MP's RFP process to address its generation shortfall, as discussed in Note 10, "Regulatory Matters - State Regulation - West Virginia." The CES segment’s operating results are 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, as well as other operating and maintenance costs, including costs incurred by FENOC. Corporate support not charged to FE's subsidiaries, interest expense on stand-alone holding company debt, corporate income taxes and other businesses that do not constitute an operating segment 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, 2017, Corporate/Other had $7.45 billion of stand-alone holding company long-term debt, of which 19% was subject to variable-interest rates, and $150 million 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, 2017 |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,262 |  |  | $ | 327 |  |  | $ | 778 |  |  | $ | — |  |  | $ | (58 | ) |  | $ | 3,309 |
Internal revenues |  | — |  |  | — |  |  | 86 |  |  | — |  |  | (86 | ) |  | — |
Total revenues |  | 2,262 |  |  | 327 |  |  | 864 |  |  | — |  |  | (144 | ) |  | 3,309 |
Depreciation |  | 179 |  |  | 54 |  |  | 29 |  |  | 19 |  |  | — |  |  | 281 |
Amortization of regulatory assets, net |  | 62 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 65 |
Impairment of assets (Note 14) |  | — |  |  | — |  |  | 131 |  |  | — |  |  | — |  |  | 131 |
Investment income |  | 14 |  |  | — |  |  | 12 |  |  | 2 |  |  | (11 | ) |  | 17 |
Interest expense |  | 134 |  |  | 39 |  |  | 47 |  |  | 70 |  |  | — |  |  | 290 |
Income taxes (benefits) |  | 121 |  |  | 53 |  |  | (30 | ) |  | (27 | ) |  | — |  |  | 117 |
Net income (loss) |  | 205 |  |  | 92 |  |  | (56 | ) |  | (67 | ) |  | — |  |  | 174 |
Total assets |  | 27,660 |  |  | 9,142 |  |  | 5,887 |  |  | 638 |  |  | — |  |  | 43,327 |
Total goodwill |  | 5,004 |  |  | 614 |  |  | — |  |  | — |  |  | — |  |  | 5,618 |
Property additions |  | 304 |  |  | 245 |  |  | 96 |  |  | 21 |  |  | — |  |  | 666 |
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,189 |  |  | $ | 275 |  |  | $ | 1,008 |  |  | $ | — |  |  | $ | (71 | ) |  | $ | 3,401 |
Internal revenues |  | — |  |  | — |  |  | 108 |  |  | — |  |  | (108 | ) |  | — |
Total revenues |  | 2,189 |  |  | 275 |  |  | 1,116 |  |  | — |  |  | (179 | ) |  | 3,401 |
Depreciation |  | 168 |  |  | 46 |  |  | 103 |  |  | 17 |  |  | — |  |  | 334 |
Amortization of regulatory assets, net |  | 61 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 63 |
Impairment of assets (Note 14) |  | — |  |  | — |  |  | 1,447 |  |  | — |  |  | — |  |  | 1,447 |
Investment income |  | 13 |  |  | — |  |  | 18 |  |  | — |  |  | (12 | ) |  | 19 |
Interest expense |  | 148 |  |  | 39 |  |  | 48 |  |  | 54 |  |  | — |  |  | 289 |
Income taxes (benefits) |  | 80 |  |  | 46 |  |  | (230 | ) |  | (26 | ) |  | — |  |  | (130 | )
Net income (loss) |  | 139 |  |  | 78 |  |  | (1,259 | ) |  | (47 | ) |  | — |  |  | (1,089 | )
Total assets |  | 27,448 |  |  | 8,314 |  |  | 15,464 |  |  | 175 |  |  | — |  |  | 51,401 |
Total goodwill |  | 5,004 |  |  | 614 |  |  | — |  |  | — |  |  | — |  |  | 5,618 |
Property additions |  | 287 |  |  | 277 |  |  | 213 |  |  | 17 |  |  | — |  |  | 794 |
For the Six Months Ended |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 4,752 |  |  | $ | 640 |  |  | $ | 1,592 |  |  | $ | — |  |  | $ | (123 | ) |  | $ | 6,861 |
Internal revenues |  | — |  |  | — |  |  | 203 |  |  | — |  |  | (203 | ) |  | — |
Total revenues |  | 4,752 |  |  | 640 |  |  | 1,795 |  |  | — |  |  | (326 | ) |  | 6,861 |
Depreciation |  | 357 |  |  | 105 |  |  | 57 |  |  | 37 |  |  | — |  |  | 556 |
Amortization of regulatory assets, net |  | 119 |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 124 |
Impairment of assets (Note 14) |  | — |  |  | — |  |  | 131 |  |  | — |  |  | — |  |  | 131 |
Investment income |  | 28 |  |  | — |  |  | 32 |  |  | 5 |  |  | (24 | ) |  | 41 |
Interest expense |  | 272 |  |  | 78 |  |  | 92 |  |  | 135 |  |  | — |  |  | 577 |
Income taxes (benefits) |  | 259 |  |  | 105 |  |  | (65 | ) |  | (56 | ) |  | — |  |  | 243 |
Net income (loss) |  | 442 |  |  | 180 |  |  | (123 | ) |  | (120 | ) |  | — |  |  | 379 |
Property additions |  | 568 |  |  | 469 |  |  | 188 |  |  | 29 |  |  | — |  |  | 1,254 |
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 4,699 |  |  | $ | 561 |  |  | $ | 2,160 |  |  | $ | — |  |  | $ | (150 | ) |  | $ | 7,270 |
Internal revenues |  | — |  |  | — |  |  | 260 |  |  | — |  |  | (260 | ) |  | — |
Total revenues |  | 4,699 |  |  | 561 |  |  | 2,420 |  |  | — |  |  | (410 | ) |  | 7,270 |
Depreciation |  | 335 |  |  | 91 |  |  | 205 |  |  | 32 |  |  | — |  |  | 663 |
Amortization of regulatory assets, net |  | 120 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 124 |
Impairment of assets (Note 14) |  | — |  |  | — |  |  | 1,447 |  |  | — |  |  | — |  |  | 1,447 |
Investment income |  | 24 |  |  | — |  |  | 33 |  |  | 11 |  |  | (21 | ) |  | 47 |
Interest expense |  | 298 |  |  | 79 |  |  | 95 |  |  | 105 |  |  | — |  |  | 577 |
Income taxes (benefits) |  | 174 |  |  | 93 |  |  | (145 | ) |  | (39 | ) |  | — |  |  | 83 |
Net income (loss) |  | 297 |  |  | 159 |  |  | (1,115 | ) |  | (102 | ) |  | — |  |  | (761 | )
Property additions |  | 528 |  |  | 556 |  |  | 382 |  |  | 26 |  |  | — |  |  | 1,492 |

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- 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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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