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Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Financial Information

Financial information for FirstEnergy’s business segments and reconciliations to consolidated amounts is presented below:

						Three Months Ended September 30,												Nine Months Ended September 30,
(In millions)						2022						2021						2022						2021
External revenues
Regulated Distribution						$	2,965					$	2,708					$	7,867					$	7,237
Regulated Transmission						503						411						1,394						1,223
Corporate/Other						7						5						21						12
Reconciling Adjustments						—						—						—						—
Total external revenues						$	3,475					$	3,124					$	9,282					$	8,472
Internal revenues
Regulated Distribution						$	58					$	51					$	171					$	150
Regulated Transmission						—						4						3						10
Corporate/Other						—						—						—						—
Reconciling Adjustments						(58)						(55)						(174)						(160)
Total internal revenues						$	—					$	—					$	—					$	—
Total revenues						$	3,475					$	3,124					$	9,282					$	8,472
Depreciation
Regulated Distribution						$	242					$	229					$	719					$	684
Regulated Transmission						72						82						245						240
Corporate/Other						3						(1)						6						1
Reconciling Adjustments						15						16						50						47
Total depreciation						$	332					$	326					$	1,020					$	972
Amortization (deferral) of regulatory assets, net
Regulated Distribution						$	(85)					$	29					$	(250)					$	159
Regulated Transmission						(1)						1						(2)						12
Corporate/Other						—						—						—						—
Reconciling Adjustments						—						—						—						—
Total amortization (deferral) of regulatory assets, net						$	(86)					$	30					$	(252)					$	171
DPA penalty
Corporate/Other						$	—					$	—					$	—					$	230
Total DPA penalty						$	—					$	—					$	—					$	230
Miscellaneous income (expense), net
Regulated Distribution						$	90					$	102					$	269					$	297
Regulated Transmission						17						12						30						34
Corporate/Other						85						23						167						59
Reconciling Adjustments						(24)						(1)						(32)						(11)
Total miscellaneous income (expense), net						$	168					$	136					$	434					$	379
Interest expense
Regulated Distribution						$	132					$	133					$	389					$	392
Regulated Transmission						41						62						155						186
Corporate/Other						99						89						276						288
Reconciling Adjustments						(24)						(1)						(32)						(11)
Total interest expense						$	248					$	283					$	788					$	855

						Three Months Ended September 30,												Nine Months Ended September 30,
(In millions)						2022						2021						2022						2021
Income taxes (benefits)
Regulated Distribution						$	92					$	108					$	213					$	261
Regulated Transmission						5						23						85						93
Corporate/Other						8						(43)						(61)						(83)
Reconciling Adjustments						—						—						—						—
Total income taxes (benefits)						$	105					$	88					$	237					$	271
Net income (loss)
Regulated Distribution						$	361					$	416					$	828					$	1,003
Regulated Transmission						37						70						290						295
Corporate/Other						(54)						(23)						(294)						(442)
Reconciling Adjustments						—						—						—						—
Total net income (loss)						$	344					$	463					$	824					$	856
Income attributable to noncontrolling interest
Regulated Transmission						$	10					$	—					$	15					$	—
Total income attributable to noncontrolling interest						$	10					$	—					$	15					$	—
Earnings attributable to FE
Regulated Distribution						$	361					$	416					$	828					$	1,003
Regulated Transmission						27						70						275						295
Corporate/Other						(54)						(23)						(294)						(442)
Reconciling Adjustments						—						—						—						—
Total earnings attributable to FE						$	334					$	463					$	809					$	856
Property additions
Regulated Distribution						$	390					$	326					$	1,063					$	993
Regulated Transmission						236						202						700						732
Corporate/Other						15						14						25						43
Reconciling Adjustments						—						—						—						—
Total property additions						$	641					$	542					$	1,788					$	1,768
(In millions)						As of September 30, 2022												As of December 31, 2021
Assets
Regulated Distribution						$	30,959											$	30,812
Regulated Transmission						13,211												13,237
Corporate/Other						681												1,383
Reconciling Adjustments						—												—
Total assets						$	44,851											$	45,432
Goodwill
Regulated Distribution						$	5,004											$	5,004
Regulated Transmission						614												614
Corporate/Other						—												—
Reconciling Adjustments						—												—
Total goodwill						$	5,618											$	5,618

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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