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Income Taxes | 9 Months Ended
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Sep. 30, 2019
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES FirstEnergy’s interim effective tax rates reflect the estimated annual effective tax rates for 2019 and 2018. These tax rates are affected by estimated annual permanent items, such as AFUDC equity and other flow-through items, as well as discrete items that may occur in any given period, but are not consistent from period to period. FirstEnergy’s effective tax rate for the three months ended September 30, 2019 and 2018, was 21.6% and 23.3%, respectively. The decrease in effective tax rate was primarily due to an increase in the amortization of net excess deferred income taxes. See Note 12, “Regulatory Matters,” for additional details. FirstEnergy’s effective tax rate for the nine months ended September 30, 2019 and 2018, was 20.6% and 33.9%, respectively. In addition to the increase in amortization of net excess deferred income taxes, the decrease in the effective tax rate was primarily due to the absence of a one-time charge of approximately $126 million to income tax expense in continuing operations associated with the re-measurement of West Virginia state deferred income taxes, resulting from the legal and financial separation of FES and FENOC from FirstEnergy, which occurred in the first quarter of 2018. See Note 3, “Discontinued Operations,” for other tax matters relating to the FES Bankruptcy that were recognized in discontinued operations. During the nine months ended September 30, 2019, FirstEnergy increased its reserve for uncertain tax positions taken in the current year by approximately $19 million, none of which had an impact on the effective tax rate. As of September 30, 2019, it is reasonably possible that FirstEnergy could record a net decrease to its reserve for uncertain tax positions by approximately $57 million within the next twelve months due to the statute of limitations expiring or resolution with taxing authorities, of which approximately $54 million would impact FirstEnergy’s effective tax rate. In June 2019, the Internal Revenue Service completed its examination of FirstEnergy’s 2017 federal income tax return and issued a full acceptance letter with no changes or adjustments to FirstEnergy’s taxable income.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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