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Segment Information
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
FE and its subsidiaries are principally involved in the transmission, distribution and generation of electricity through its reportable segments, Regulated Distribution and Regulated Transmission.

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 3,580 MWs of regulated electric generation capacity located primarily in West Virginia and Virginia. The segment’s results reflect the costs of securing and delivering electric generation from transmission facilities to customers, including the deferral and amortization of certain related costs. Included within the segment is $45 million of assets classified as held for sale as of December 31, 2020, associated with the asset purchase agreement with Yards Creek; see Note 8, “Regulatory Matters,” for additional information.
The Regulated Transmission segment provides transmission infrastructure owned and operated by the Transmission Companies 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 the Transmission Companies and JCP&L as well as stated transmission rates at MP, PE and WP; although as explained in Note 8, “Regulatory Matters,” effective January 1, 2021, subject to refund, MP’s, PE’s and WP’s existing stated rates became forward-looking formula rates. JCP&L previously had stated transmission rates; however, effective January 1, 2020, JCP&L implemented forward-looking formula rates, which were approved by FERC on April 15, 2021. Both forward-looking formula and stated rates recover costs that FERC determines 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. Revenue requirements under stated rates are calculated annually by multiplying the highest one-hour peak load in each respective transmission zone by the approved, stated rate in that zone. The segment’s results also reflect the net transmission expenses related to the delivery of electricity on FirstEnergy’s transmission facilities.
Corporate/Other reflects corporate support and other costs not charged to FE’s subsidiaries, including FE’s retained Pension and OPEB assets and liabilities of the FES Debtors, interest expense on FE’s holding company debt and other businesses that do not constitute an operating segment. Reconciling adjustments for the elimination of inter-segment transactions are shown separately in the following table of Segment Financial Information. As of June 30, 2021, 67 MWs of electric generating capacity, representing AE Supply’s OVEC capacity entitlement, was included in continuing operations of Corporate/Other. As of June 30, 2021, Corporate/Other had approximately $7.9 billion of FE holding company debt.

















Financial information for each of FirstEnergy’s reportable segments is presented in the tables below:
Segment Financial Information
For the Three Months EndedRegulated DistributionRegulated TransmissionCorporate/ OtherReconciling AdjustmentsFirstEnergy Consolidated
(In millions)
June 30, 2021
External revenues$2,208 $411 $3 $— $2,622 
Internal revenues50 8 — (58)— 
Total revenues$2,258 $419 $3 $(58)$2,622 
Depreciation229 77 1 16 323 
Amortization of regulatory assets, net43 6 — — 49 
DPA penalty— — 230 — 230 
Miscellaneous income (expense), net88 11 14 (5)108 
Interest expense131 63 98 (5)287 
Income taxes (benefits)71 37 (12)— 96 
Income (loss) from continuing operations274 116 (332)— 58 
Property additions$346 $257 $19 $— $622 
June 30, 2020
External revenues$2,140 $380 $2 $— $2,522 
Internal revenues48 4 — (52)— 
Total revenues$2,188 $384 $2 $(52)$2,522 
Depreciation226 78 — 17 321 
Amortization of regulatory assets, net10 3 — — 13 
Miscellaneous income (expense), net90 8 7 (2)103 
Interest expense123 55 87 (2)263 
Income taxes (benefits)67 34 (35)— 66 
Income (loss) from continuing operations251 114 (58)— 307 
Property additions$386 $270 $20 $— $676 
For the Six Months Ended
June 30, 2021
External revenues$4,529 $812 $7 $— $5,348 
Internal revenues99 12 — (111)— 
Total revenues$4,628 $824 $7 $(111)$5,348 
Depreciation455 158 2 31 646 
Amortization of regulatory assets, net130 11 — — 141 
DPA penalty— — 230 — 230 
Miscellaneous income (expense), net195 22 36 (10)243 
Interest expense259 124 199 (10)572 
Income taxes (benefits)153 70 (40)— 183 
Income (loss) from continuing operations587 225 (419)— 393 
Property additions$667 $530 $29 $— $1,226 
June 30, 2020
External revenues$4,451 $777 $3 $— $5,231 
Internal revenues95 8 — (103)— 
Total revenues$4,546 $785 $3 $(103)$5,231 
Depreciation449 154 2 33 638 
Amortization of regulatory assets, net59 6 — — 65 
Miscellaneous income (expense), net165 14 32 (8)203 
Interest expense250 107 177 (8)526 
Income taxes (benefits)35 68 (97)— 6 
Income (loss) from continuing operations387 231 (287)— 331 
Property additions$724 $539 $29 $— $1,292 
As of June 30, 2021
Total assets$30,943 $12,779 $641 $— $44,363 
Total goodwill$5,004 $614 $— $— $5,618 
As of December 31, 2020
Total assets$30,855 $12,592 $1,017 $— $44,464 
Total goodwill$5,004 $614 $— $— $5,618