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Capitalization (Tables) | 12 Months Ended
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Dec. 31, 2017
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, 2017, 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, 2017 and 2016:
|  | As of December 31, 2017 |  | As of December 31
(Dollar amounts in millions) |  | Maturity Date |  | Interest Rate |  | 2017 |  | 2016
FirstEnergy: |  |  |  |  |  |  |  |
FMBs and secured notes - fixed rate |  | 2018 - 2056 |  | 1.726% - 9.740% |  | $ | 5,446 |  |  | $ | 5,623 |
Secured notes - variable rate |  | 2019 |  | 4.500% |  | 9 |  |  | 10 |
Total FMBs and secured notes |  |  |  |  |  | 5,455 |  |  | 5,633 |
Unsecured notes - fixed rate |  | 2018 - 2047 |  | 2.550% - 7.700% |  | 15,370 |  |  | 13,058 |
Unsecured notes - variable rate |  | 2020 - 2021 |  | 3.227% |  | 1,450 |  |  | 1,200 |
Total unsecured notes |  |  |  |  |  | 16,820 |  |  | 14,258 |
Capital lease obligations |  |  |  |  |  | 91 |  |  | 104 |
Unamortized debt discounts |  |  |  |  |  | (42 | ) |  | (25 | )
Unamortized debt issuance costs |  |  |  |  |  | (113 | ) |  | (87 | )
Unamortized fair value adjustments |  |  |  |  |  | (14 | ) |  | (6 | )
Currently payable long-term debt |  |  |  |  |  | (1,082 | ) |  | (1,685 | )
Total long-term debt and other long-term obligations |  |  |  |  |  | $ | 21,115 |  |  | $ | 18,192 |
FES: |  |  |  |  |  |  |  |
Secured notes - fixed rate |  | 2018 - 2047 |  | 4.250% - 5.625% |  | $ | 612 |  |  | $ | 617 |
Secured notes - variable rate |  | 2019 |  | 4.500% |  | 9 |  |  | 10 |
Total secured notes |  |  |  |  |  | 621 |  |  | 627 |
Unsecured notes - fixed rate |  | 2019 - 2041 |  | 2.550% - 6.800% |  | 2,215 |  |  | 2,373 |
Capital lease obligations |  |  |  |  |  | 2 |  |  | 8 |
Unamortized debt discounts |  |  |  |  |  | (1 | ) |  | (1 | )
Unamortized debt issuance costs |  |  |  |  |  | (14 | ) |  | (15 | )
Currently payable long-term debt |  |  |  |  |  | (524 | ) |  | (179 | )
Total long-term debt and other long-term obligations |  |  |  |  |  | $ | 2,299 |  |  | $ | 2,813 |
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, 2017. 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)
2018 |  | $ | 1,051 |  |  | $ | 515 |
2019 |  | 1,267 |  |  | 323 |
2020 |  | 1,281 |  |  | 667 |
2021 |  | 2,032 |  |  | 674 |
2022 |  | 1,428 |  |  | 284 |
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)
2018 |  | $ | 375 |  |  | $ | 375 |
2019 |  | 232 |  |  | 232 |
2020 |  | 490 |  |  | 490 |
2021 |  | 342 |  |  | 342 |
2022 |  | 284 |  |  | 284 |

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