XML 54 R37.htm IDEA: XBRL DOCUMENT
v3.20.4

FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Assets and liabilities measured on recurring basis | The following tables set forth the recurring assets and liabilities that are accounted for at fair value by level within the fair value hierarchy:
| December 31, 2020 |  | December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets | (In millions)
Corporate debt securities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 135 |  |  | $ | — |  |  | $ | 135 |
Derivative assets FTRs(1) | — |  |  | — |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | 4 |  |  | 4 |
Equity securities | 2 |  |  | — |  |  | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
U.S. state debt securities | — |  |  | 276 |  |  | — |  |  | 276 |  |  | — |  |  | 271 |  |  | — |  |  | 271 |
Other(2) | 1,734 |  |  | 41 |  |  | — |  |  | 1,775 |  |  | 627 |  |  | 789 |  |  | — |  |  | 1,416 |
Total assets | $ | 1,736 |  |  | $ | 317 |  |  | $ | 3 |  |  | $ | 2,056 |  |  | $ | 629 |  |  | $ | 1,195 |  |  | $ | 4 |  |  | $ | 1,828 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities FTRs(1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1) |  |  | $ | (1) |
Derivative liabilities NUG contracts(1) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (16) |  |  | (16) |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (17) |  |  | $ | (17) |
Net assets (liabilities)(3) | $ | 1,736 |  |  | $ | 317 |  |  | $ | 3 |  |  | $ | 2,056 |  |  | $ | 629 |  |  | $ | 1,195 |  |  | $ | (13) |  |  | $ | 1,811 |
(1)Contracts are subject to regulatory accounting treatment and changes in market values do not impact earnings. (2)Primarily consists of short-term cash investments. (3)Excludes $1 million and $(16) million as of December 31, 2020, and December 31, 2019, respectively, of receivables, payables, taxes and accrued income associated with financial instruments reflected within the fair value table.
Reconciliation of changes in the fair value roll forward of level 3 measurements of NUG contracts | The following table provides a reconciliation of changes in the fair value of NUG contracts and FTRs that are classified as Level 3 in the fair value hierarchy for the years ended December 31, 2020 and December 31, 2019:
| NUG Contracts(1) |  |  |  | FTRs(1)
| Derivative Assets |  | Derivative Liabilities |  | Net |  |  |  |  |  |  |  | Derivative Assets |  | Derivative Liabilities |  | Net
| (In millions)
January 1, 2019 Balance | $ | — |  |  | $ | (44) |  |  | $ | (44) |  |  |  |  |  |  |  |  | $ | 10 |  |  | $ | (1) |  |  | $ | 9 |
Unrealized gain (loss) | — |  |  | (11) |  |  | (11) |  |  |  |  |  |  |  |  | (1) |  |  | — |  |  | (1) |
Purchases | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 6 |  |  | (4) |  |  | 2 |
Settlements | — |  |  | 39 |  |  | 39 |  |  |  |  |  |  |  |  | (11) |  |  | 4 |  |  | (7) |
December 31, 2019 Balance | $ | — |  |  | $ | (16) |  |  | $ | (16) |  |  |  |  |  |  |  |  | $ | 4 |  |  | $ | (1) |  |  | $ | 3 |
Unrealized gain (loss) | — |  |  | (3) |  |  | (3) |  |  |  |  |  |  |  |  | (3) |  |  | — |  |  | (3) |
Purchases | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 7 |  |  | (2) |  |  | 5 |
Settlements | — |  |  | 19 |  |  | 19 |  |  |  |  |  |  |  |  | (5) |  |  | 3 |  |  | (2) |
December 31, 2020 Balance | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |
(1)Contracts are subject to regulatory accounting treatment and changes in market values do not impact earnings.
Quantitative information for level 3 valuation | The following table provides quantitative information for FTRs contracts that are classified as Level 3 in the fair value hierarchy for the year ended December 31, 2020:
|  | Fair Value, Net (In millions) |  | Valuation Technique |  | Significant Input |  | Range | Weighted Average |  | Units
FTRs |  | $ | 3 |  |  | Model |  | RTO auction clearing prices |  | $0.40 | to | $2.20 | $1.10 |  | Dollars/MWH
Amortized cost basis, unrealized gains and losses and fair values of investments in available-for-sale securities | The following table summarizes the amortized cost basis, unrealized gains, unrealized losses and fair values of investments held in NDT and nuclear fuel disposal trusts as of December 31, 2020 and December 31, 2019:
|  | December 31, 2020(1) |  | December 31, 2019(2)
|  | Cost Basis |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cost Basis |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value(3)
|  | (In millions)
Debt securities |  | $ | 275 |  |  | $ | 7 |  |  | $ | (6) |  |  | $ | 276 |  |  | $ | 403 |  |  | $ | 9 |  |  | $ | (11) |  |  | $ | 401 |
(1)Excludes short-term cash investments of $9 million. (2)Excludes short-term cash investments of $751 million, of which $747 million is classified as held for sale. (3)Includes $135 million classified as held for sale as of December 31, 2019.
Proceeds from the sale of investments in available-for-sale securities, realized gains and losses on those sales, and interest and dividend income | Proceeds from the sale of investments in equity and AFS debt securities, realized gains and losses on those sales and interest and dividend income for the years ended December 31, 2020, 2019 and 2018, were as follows:
|  | For the Years Ended December 31,
|  | 2020 |  | 2019(1) |  | 2018(1)
|  | (In millions)
Sale Proceeds |  | $ | 186 |  |  | $ | 1,637 |  |  | $ | 800 |
Realized Gains |  | 12 |  |  | 98 |  |  | 41 |
Realized Losses |  | (8) |  |  | (31) |  |  | (48) |
Interest and Dividend Income |  | 22 |  |  | 38 |  |  | 41 |
(1) Excludes amounts classified as discontinued operations.
Fair value and related carrying amounts of long-term debt and other long-term obligations | The following table provides the approximate fair value and related carrying amounts of long-term debt, which excludes finance lease obligations and net unamortized debt issuance costs, unamortized fair value adjustments, premiums and discounts as of December 31, 2020 and 2019:
| As of December 31, |
| 2020 |  | 2019
| (In millions)
Carrying Value (1) | $ | 22,377 |  |  |  | $ | 20,066 |  |
Fair Value | 25,465 |  |  |  | 22,928 |  |
(1) The carrying value as of December 31, 2020, includes $3,425 million of debt issuances and $1,114 million of redemptions that occurred during 2020.

X
- Definition Fair value and related carrying amounts of long-term debt and other long-term obligations. + References No definition available. + Details
Name: | fe_FairValueAndRelatedCarryingAmountsOfLongTermDebtAndOtherLongTermObligationsTableTextBlock
Namespace Prefix: | fe_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Proceeds from sale of investments in available-for-sale securities, realized gains and losses on those sales, and interest and dividend income. + References No definition available. + Details
Name: | fe_ProceedsFromSaleOfInvestmentsInAvailableForSaleSecuritiesRealizedGainsAndLossesOnThoseSalesAndInterestAndDividendIncomeTableTextBlock
Namespace Prefix: | fe_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
Name: | us-gaap_FairValueMeasurementInputsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration