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Organization and Basis of Presentation (Tables)
 12 Months Ended
Dec. 31, 2017
Accounting Policies [Abstract]  
Regulatory assets on the Balance Sheets
The following table provides information about the composition of net regulatory assets and liabilities as of December 31, 2017 and December 31, 2016, and the changes during the year ended December 31, 2017:

Net Regulatory Assets (Liabilities) by Source
 
December 31,
2017
 
December 31,
2016
 
Increase
(Decrease)
 
 
(In millions)
Regulatory transition costs
 
$
46

 
$
90

 
$
(44
)
Customer receivables (payables) for future income taxes
 
(2,765
)
 
468

 
(3,233
)
Nuclear decommissioning and spent fuel disposal costs
 
(323
)
 
(304
)
 
(19
)
Asset removal costs
 
(774
)
 
(770
)
 
(4
)
Deferred transmission costs
 
187

 
122

 
65

Deferred generation costs
 
198

 
331

 
(133
)
Deferred distribution costs
 
258

 
296

 
(38
)
Contract valuations
 
118

 
153

 
(35
)
Storm-related costs
 
329

 
397

 
(68
)
Other
 
46

 
74

 
(28
)
Net Regulatory Assets (Liabilities) included on the Consolidated Balance Sheets
 
$
(2,680
)
 
$
857

 
$
(3,537
)
Receivables from customers
Billed and unbilled customer receivables as of December 31, 2017 and 2016 are included below.
Customer Receivables
 
FirstEnergy
 
FES
 
 
(In millions)
December 31, 2017
 
 
 
 
Billed
 
$
860

 
$
106

Unbilled
 
603

 
75

Total
 
$
1,463

 
$
181

 
 
 
 
 
December 31, 2016
 
 
 
 
Billed
 
$
833

 
$
123

Unbilled
 
607

 
90

Total
 
$
1,440

 
$
213
Reconciliation of basic and diluted earnings per share
Reconciliation of Basic and Diluted Earnings (Loss) per Share of Common Stock
 
2017
 
2016
 
2015
 
 
(In millions, except per share amounts)
 
 
 
 
 
 
 
Net income (loss)
 
$
(1,724
)
 
$
(6,177
)
 
$
578

 
 
 
 
 
 
 
Weighted average number of basic shares outstanding
 
444

 
426

 
422

Assumed exercise of dilutive stock options and awards(1)
 
—

 
—

 
2

Weighted average number of diluted shares outstanding
 
444

 
426

 
424

 
 
 
 
 
 
 
Basic earnings (loss) per share of common stock
 
$
(3.88
)
 
$
(14.49
)
 
$
1.37

Diluted earnings (loss) per share of common stock
 
$
(3.88
)
 
$
(14.49
)
 
$
1.37



(1)
For the years ended December 31, 2017, 2016 and 2015, approximately three million, three million and one million shares were excluded from the calculation of diluted shares outstanding, respectively, as their inclusion would be antidilutiv
Property, plant and equipment balances
Property, plant and equipment balances for FES as of December 31, 2017 and 2016 were as follows:
 
 
December 31, 2017
Property, Plant and Equipment
 
In Service
 
Accum. Depr.
 
Net Plant
 
CWIP
 
Total PP&E
 
 
(In millions)
Fossil Generation
 
$
2,344

 
$
(1,743
)
 
$
601

 
$
19

 
$
620

Other
 
151

 
(80
)
 
71

 
3

 
74

Total
 
$
2,495

 
$
(1,823
)
 
$
672

 
$
22

 
$
694


 
 
December 31, 2016
Property, Plant and Equipment
 
In Service
 
Accum. Depr.
 
Net Plant
 
CWIP
 
Total PP&E
 
 
(In millions)
Fossil Generation
 
$
2,212

 
$
(1,720
)
 
$
492

 
$
63

 
$
555

Nuclear Generation
 
2,065

 
(1,723
)
 
342

 
118

 
460

Nuclear Fuel
 
2,637

 
(2,418
)
 
219

 
241

 
460

Other
 
143

 
(68
)
 
75

 
5

 
80

Total
 
$
7,057

 
$
(5,929
)
 
$
1,128

 
$
427

 
$
1,555

Property, plant and equipment balances by segment as of December 31, 2017 and 2016 were as follows:
 
 
December 31, 2017
Property, Plant and Equipment
 
In Service(1)
 
Accum. Depr.
 
Net Plant
 
CWIP
 
Total PP&E
 
 
(In millions)
Regulated Distribution
 
$
25,950

 
$
(7,503
)
 
$
18,447

 
$
469

 
$
18,916

Regulated Transmission
 
10,102

 
(2,055
)
 
8,047

 
480

 
8,527

Competitive Energy Services(2)
 
2,902

 
(1,958
)
 
944

 
28

 
972

Corporate/Other
 
824

 
(409
)
 
415

 
49

 
464

Total
 
$
39,778

 
$
(11,925
)
 
$
27,853

 
$
1,026

 
$
28,879



 
 
December 31, 2016
Property, Plant and Equipment
 
In Service(1)
 
Accum. Depr.
 
Net Plant
 
CWIP
 
Total PP&E
 
 
(In millions)
Regulated Distribution
 
$
24,979

 
$
(7,169
)
 
$
17,810

 
$
472

 
$
18,282

Regulated Transmission
 
9,342

 
(1,948
)
 
7,394

 
383

 
7,777

Competitive Energy Services(2)
 
8,680

 
(6,267
)
 
2,413

 
453

 
2,866

Corporate/Other
 
766

 
(347
)
 
419

 
43

 
462

Total
 
$
43,767

 
$
(15,731
)
 
$
28,036

 
$
1,351

 
$
29,387


(1) Includes capital leases of $238 million and $244 million at December 31, 2017 and 2016, respectively.
(2) Primarily consists of generating assets and nuclear fuel as discussed above.
Annual composite rates
The respective annual composite rates for FirstEnergy's and FES' electric plant in 2017, 2016 and 2015 are shown in the following table:
 
 
Annual Composite Depreciation Rate
 
 
2017
 
2016
 
2015
FirstEnergy
 
2.4
%
 
2.5
%
 
2.5
%
FES
 
4.4
%
 
3.3
%
 
3.2
%
Summary of changes in goodwill
FirstEnergy's reporting units are consistent with its reportable segments and consist of Regulated Distribution, Regulated Transmission, and CES. The following table presents goodwill by reporting unit for the year ended December 31, 2017:
Goodwill
 
Regulated Distribution
 
Regulated Transmission
 
Consolidated
 
 
(In millions)
Balance as of December 31, 2017
 
$
5,004

 
$
614

 
$
5,618



FirstEnergy tests goodwill for impairment annually as of July 31 and considers more frequent testing if indicators of potential impairment arise.