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v3.22.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Segment Financial Information | Financial information for FirstEnergy’s business segments and reconciliations to consolidated amounts is presented below.
Segment Financial Information |  | Regulated Distribution |  | Regulated Transmission |  | Corporate/ Other |  | Reconciling Adjustments |  | FirstEnergy Consolidated
For the Three Months Ended |  | (In millions)
June 30, 2022 |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,370 |  |  | $ | 440 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 2,818 |
Internal revenues |  | 56 |  |  | 1 |  |  | — |  |  | (57) |  |  | — |
Total revenues |  | $ | 2,426 |  |  | $ | 441 |  |  | $ | 8 |  |  | $ | (57) |  |  | $ | 2,818 |
Depreciation |  | 242 |  |  | 87 |  |  | 1 |  |  | 18 |  |  | 348 |
Deferral of regulatory assets, net |  | (127) |  |  | (2) |  |  | — |  |  | — |  |  | (129) |
Miscellaneous income (expense), net |  | 94 |  |  | 7 |  |  | 65 |  |  | (6) |  |  | 160 |
Interest expense |  | 128 |  |  | 55 |  |  | 88 |  |  | (6) |  |  | 265 |
Income taxes (benefits) |  | 52 |  |  | 39 |  |  | (42) |  |  | — |  |  | 49 |
Net income (loss) |  | 202 |  |  | 128 |  |  | (138) |  |  | — |  |  | 192 |
Income attributable to noncontrolling interest |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Earnings attributable to FE |  | 202 |  |  | 123 |  |  | (138) |  |  | — |  |  | 187 |
Property additions |  | $ | 356 |  |  | $ | 267 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 627 |
June 30, 2021 |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,208 |  |  | $ | 411 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 2,622 |
Internal revenues |  | 50 |  |  | 8 |  |  | — |  |  | (58) |  |  | — |
Total revenues |  | $ | 2,258 |  |  | $ | 419 |  |  | $ | 3 |  |  | $ | (58) |  |  | $ | 2,622 |
Depreciation |  | 229 |  |  | 77 |  |  | 1 |  |  | 16 |  |  | 323 |
Amortization of regulatory assets, net |  | 43 |  |  | 6 |  |  | — |  |  | — |  |  | 49 |
DPA penalty |  | — |  |  | — |  |  | 230 |  |  | — |  |  | 230 |
Miscellaneous income (expense), net |  | 88 |  |  | 11 |  |  | 14 |  |  | (5) |  |  | 108 |
Interest expense |  | 131 |  |  | 63 |  |  | 98 |  |  | (5) |  |  | 287 |
Income taxes (benefits) |  | 71 |  |  | 37 |  |  | (12) |  |  | — |  |  | 96 |
Net income (loss) |  | 274 |  |  | 116 |  |  | (332) |  |  | — |  |  | 58 |
Property additions |  | $ | 346 |  |  | $ | 257 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 622 |
For the Six Months Ended |  |  |  |  |  |  |  |  |  |
June 30, 2022 |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 4,902 |  |  | $ | 891 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 5,807 |
Internal revenues |  | 113 |  |  | 3 |  |  | — |  |  | (116) |  |  | — |
Total revenues |  | $ | 5,015 |  |  | $ | 894 |  |  | $ | 14 |  |  | $ | (116) |  |  | $ | 5,807 |
Depreciation |  | 477 |  |  | 173 |  |  | 3 |  |  | 35 |  |  | 688 |
Deferral of regulatory assets, net |  | (165) |  |  | (1) |  |  | — |  |  | — |  |  | (166) |
Miscellaneous income (expense), net |  | 179 |  |  | 13 |  |  | 82 |  |  | (8) |  |  | 266 |
Interest expense |  | 257 |  |  | 114 |  |  | 177 |  |  | (8) |  |  | 540 |
Income taxes (benefits) |  | 121 |  |  | 80 |  |  | (69) |  |  | — |  |  | 132 |
Net income (loss) |  | 467 |  |  | 253 |  |  | (240) |  |  | — |  |  | 480 |
Income attributable to noncontrolling interest |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Earnings attributable to FE |  | 467 |  |  | 248 |  |  | (240) |  |  | — |  |  | 475 |
Property additions |  | $ | 673 |  |  | $ | 464 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 1,147 |
June 30, 2021 |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 4,529 |  |  | $ | 812 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 5,348 |
Internal revenues |  | 99 |  |  | 12 |  |  | — |  |  | (111) |  |  | — |
Total revenues |  | $ | 4,628 |  |  | $ | 824 |  |  | $ | 7 |  |  | $ | (111) |  |  | $ | 5,348 |
Depreciation |  | 455 |  |  | 158 |  |  | 2 |  |  | 31 |  |  | 646 |
Amortization of regulatory assets, net |  | 130 |  |  | 11 |  |  | — |  |  | — |  |  | 141 |
DPA penalty |  | — |  |  | — |  |  | 230 |  |  | — |  |  | 230 |
Miscellaneous income (expense), net |  | 195 |  |  | 22 |  |  | 36 |  |  | (10) |  |  | 243 |
Interest expense |  | 259 |  |  | 124 |  |  | 199 |  |  | (10) |  |  | 572 |
Income taxes (benefits) |  | 153 |  |  | 70 |  |  | (40) |  |  | — |  |  | 183 |
Net income (loss) |  | 587 |  |  | 225 |  |  | (419) |  |  | — |  |  | 393 |
Property additions |  | $ | 667 |  |  | $ | 530 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 1,226 |
As of June 30, 2022 |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 31,133 |  |  | $ | 13,303 |  |  | $ | 684 |  |  | $ | — |  |  | $ | 45,120 |
Total goodwill |  | $ | 5,004 |  |  | $ | 614 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,618 |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 30,812 |  |  | $ | 13,237 |  |  | $ | 1,383 |  |  | $ | — |  |  | $ | 45,432 |
Total goodwill |  | $ | 5,004 |  |  | $ | 614 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,618 |

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