XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2018
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION FirstEnergy's reportable segments are as follows: Regulated Distribution and Regulated Transmission. On March 31, 2018, as discussed in Note 3, “Discontinued Operations,” FirstEnergy deconsolidated FES and FENOC and presented FES, FENOC, BSPC and a portion of AE Supply, representing substantially all of FirstEnergy’s operations that previously comprised the CES reportable operating segment, as discontinued operations in FirstEnergy’s consolidated financial statements resulting from actions taken as part of the strategic review to exit commodity-exposed generation. During the third quarter of 2018, the Pleasants Power Station was also reclassified to discontinued operations following its inclusion in the definitive settlement agreement for the benefit of FES' creditors. The financial information for all periods has been revised to present the discontinued operations within Reconciling Adjustments. The remaining business activities that previously comprised the CES reportable operating segment were not material and, as such, have been combined into Corporate/Other for reporting purposes. 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 provides transmission infrastructure owned and operated by ATSI, TrAIL, MAIT and certain of FirstEnergy's utilities (JCP&L, MP, PE and WP) to transmit electricity from generation sources to distribution facilities. The segment's revenues are primarily derived from forward-looking formula rates at ATSI, TrAIL, and MAIT as well as stated transmission rates at JCP&L, MP, PE and WP. Both the forward-looking formula and stated rates recover costs that the regulatory agencies determine are permitted to be recovered and provide a return on transmission capital investment. Under forward-looking formula 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. 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 and discontinued operations are included in Corporate/Other. As of September 30, 2018, Corporate/Other had $5.35 billion of FE holding company long-term debt and $1.7 billion in borrowings under its revolving credit facility. Financial information for each of FirstEnergy's reportable segments is presented in the tables below. Segment Financial Information
For the Three Months Ended |  | Regulated Distribution |  | Regulated Transmission |  | Corporate/ Other |  | Reconciling Adjustments |  | Consolidated
|  | (In millions)
September 30, 2018 |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,766 |  |  | $ | 346 |  |  | $ | 6 |  |  | $ | (54 | ) |  | $ | 3,064 |
Depreciation |  | 202 |  |  | 64 |  |  | 1 |  |  | 16 |  |  | 283 |
Amortization of regulatory assets, net |  | 65 |  |  | 2 |  |  | — |  |  | — |  |  | 67 |
Miscellaneous income (expense), net |  | 34 |  |  | 4 |  |  | 19 |  |  | (8 | ) |  | 49 |
Interest expense |  | 127 |  |  | 43 |  |  | 93 |  |  | (8 | ) |  | 255 |
Income taxes (benefits) |  | 126 |  |  | 34 |  |  | (27 | ) |  | — |  |  | 133 |
Income (loss) from continuing operations |  | 416 |  |  | 99 |  |  | (128 | ) |  | — |  |  | 387 |
Total assets |  | 28,530 |  |  | 10,017 |  |  | 896 |  |  | — |  |  | 39,443 |
Total goodwill |  | 5,004 |  |  | 614 |  |  | — |  |  | — |  |  | 5,618 |
Property additions |  | 356 |  |  | 262 |  |  | 5 |  |  | 12 |  |  | 635 |
September 30, 2017 |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,609 |  |  | $ | 341 |  |  | $ | 10 |  |  | $ | (50 | ) |  | $ | 2,910 |
Depreciation |  | 183 |  |  | 59 |  |  | 2 |  |  | 17 |  |  | 261 |
Amortization of regulatory assets, net |  | 107 |  |  | 6 |  |  | — |  |  | — |  |  | 113 |
Impairment of assets |  | — |  |  | 13 |  |  | — |  |  | — |  |  | 13 |
Miscellaneous income (expense), net |  | 16 |  |  | 1 |  |  | 15 |  |  | (13 | ) |  | 19 |
Interest expense |  | 133 |  |  | 38 |  |  | 104 |  |  | (13 | ) |  | 262 |
Income taxes (benefits) |  | 183 |  |  | 49 |  |  | (30 | ) |  | — |  |  | 202 |
Income (loss) from continuing operations |  | 314 |  |  | 84 |  |  | (97 | ) |  | — |  |  | 301 |
Total assets |  | 27,866 |  |  | 9,356 |  |  | 938 |  |  | 5,489 |  |  | 43,649 |
Total goodwill |  | 5,004 |  |  | 614 |  |  | — |  |  | — |  |  | 5,618 |
Property additions |  | 286 |  |  | 248 |  |  | 14 |  |  | 45 |  |  | 593 |
For the Nine Months Ended |  |  |  |  |  |  |  |  |  |
September 30, 2018 |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 7,694 |  |  | $ | 1,010 |  |  | $ | 28 |  |  | $ | (181 | ) |  | $ | 8,551 |
Depreciation |  | 598 |  |  | 187 |  |  | 6 |  |  | 52 |  |  | 843 |
Amortization (deferral) of regulatory assets, net |  | (194 | ) |  | 6 |  |  | — |  |  | — |  |  | (188 | )
Miscellaneous income (expense), net |  | 146 |  |  | 11 |  |  | 34 |  |  | (27 | ) |  | 164 |
Interest expense |  | 384 |  |  | 124 |  |  | 377 |  |  | (27 | ) |  | 858 |
Income taxes |  | 357 |  |  | 104 |  |  | 42 |  |  | — |  |  | 503 |
Income (loss) from continuing operations |  | 1,115 |  |  | 302 |  |  | (577 | ) |  | — |  |  | 840 |
Property additions |  | 1,011 |  |  | 836 |  |  | 68 |  |  | 27 |  |  | 1,942 |
September 30, 2017 |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 7,380 |  |  | $ | 981 |  |  | $ | 37 |  |  | $ | (151 | ) |  | $ | 8,247 |
Depreciation |  | 540 |  |  | 164 |  |  | 9 |  |  | 52 |  |  | 765 |
Amortization of regulatory assets, net |  | 263 |  |  | 11 |  |  | — |  |  | — |  |  | 274 |
Impairment of assets |  | — |  |  | 13 |  |  | — |  |  | — |  |  | 13 |
Miscellaneous income (expense), net |  | 45 |  |  | 1 |  |  | 31 |  |  | (33 | ) |  | 44 |
Interest expense |  | 405 |  |  | 116 |  |  | 263 |  |  | (33 | ) |  | 751 |
Income taxes (benefits) |  | 442 |  |  | 154 |  |  | (113 | ) |  | — |  |  | 483 |
Income (loss) from continuing operations |  | 756 |  |  | 264 |  |  | (248 | ) |  | — |  |  | 772 |
Property additions |  | 854 |  |  | 717 |  |  | 43 |  |  | 233 |  |  | 1,847 |

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration