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Capitalization (Tables)
 12 Months Ended
Dec. 31, 2018
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, 2018, as follows:
 
 
Preferred Stock
 
Preference Stock
 
 
Shares Authorized
 
Par Value
 
Shares Authorized
 
Par Value
FE
 
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 as of December 31, 2018 and 2017:
 
 
As of December 31, 2018
 
As of December 31,
(Dollar amounts in millions)
 
Maturity Date
 
Interest Rate
 
2018
 
2017
 
 
 
 
 
 
 
 
 
FMBs and secured notes - fixed rate
 
2019 - 2056
 
1.726% - 9.740%
 
$
4,355

 
$
4,692

Unsecured notes - fixed rate
 
2019 - 2047
 
2.850% - 7.700%
 
13,450

 
13,155

Unsecured notes - variable rate
 
2020
 
3.270%
 
500

 
1,450

Capital lease obligations
 
 
 
 
 
73

 
89

Unamortized debt discounts
 
 
 
 
 
(39
)
 
(41
)
Unamortized debt issuance costs
 
 
 
 
 
(95
)
 
(99
)
Unamortized fair value adjustments
 
 
 
 
 
10

 
(1
)
Currently payable long-term debt
 
 
 
 
 
(503
)
 
(558
)
Total long-term debt and other long-term obligations
 
 
 
 
 
$
17,751

 
$
18,687

 
 
 
 
 
 
 
 
 
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, 2018. 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
 
 
 
 
(In millions)
2019
 
$
489

2020
 
$
864

2021
 
$
132

2022
 
$
1,143

2023
 
$
1,194
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 as of December 31, 2018:
Year
 
 
 
 
 
(In millions)
 
2019
 
$
—

 
2020
 
$
—

 
2021
 
$
74

 
2022
 
$
—

 
2023
 
$
—