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SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2023
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 March 31,
(In millions) |  |  |  |  |  | 2023 |  | 2022
External revenues |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | 2,769 |  |  | $ | 2,532 |
Regulated Transmission |  |  |  |  |  | 460 |  |  | 451 |
Corporate/Other |  |  |  |  |  | 2 |  |  | 6 |
Reconciling Adjustments |  |  |  |  |  | — |  |  | — |
Total external revenues |  |  |  |  |  | $ | 3,231 |  |  | $ | 2,989 |
Internal revenues |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | 57 |  |  | $ | 57 |
Regulated Transmission |  |  |  |  |  | 1 |  |  | 2 |
Corporate/Other |  |  |  |  |  | — |  |  | — |
Reconciling Adjustments |  |  |  |  |  | (58) |  |  | (59) |
Total internal revenues |  |  |  |  |  | $ | — |  |  | $ | — |
Total revenues |  |  |  |  |  | $ | 3,231 |  |  | $ | 2,989 |
Depreciation |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | 251 |  |  | $ | 235 |
Regulated Transmission |  |  |  |  |  | 91 |  |  | 86 |
Corporate/Other |  |  |  |  |  | 2 |  |  | 2 |
Reconciling Adjustments |  |  |  |  |  | 17 |  |  | 17 |
Total depreciation |  |  |  |  |  | $ | 361 |  |  | $ | 340 |
Amortization (deferral) of regulatory assets, net |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | (79) |  |  | $ | (38) |
Regulated Transmission |  |  |  |  |  | (1) |  |  | 1 |
Corporate/Other |  |  |  |  |  | — |  |  | — |
Reconciling Adjustments |  |  |  |  |  | — |  |  | — |
Total amortization (deferral) of regulatory assets, net |  |  |  |  |  | $ | (80) |  |  | $ | (37) |
Equity method investment earnings |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | — |  |  | $ | — |
Regulated Transmission |  |  |  |  |  | — |  |  | — |
Corporate/Other |  |  |  |  |  | 56 |  |  | 12 |
Reconciling Adjustments |  |  |  |  |  | — |  |  | — |
Total equity method investment earnings |  |  |  |  |  | $ | 56 |  |  | $ | 12 |
Interest expense |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | 146 |  |  | $ | 129 |
Regulated Transmission |  |  |  |  |  | 59 |  |  | 59 |
Corporate/Other |  |  |  |  |  | 75 |  |  | 89 |
Reconciling Adjustments |  |  |  |  |  | (17) |  |  | (2) |
Total interest expense |  |  |  |  |  | $ | 263 |  |  | $ | 275 |
|  |  |  | Three Months Ended March 31,
(In millions) |  |  |  |  |  | 2023 |  | 2022
Income taxes (benefits) |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | 56 |  |  | $ | 69 |
Regulated Transmission |  |  |  |  |  | 40 |  |  | 41 |
Corporate/Other |  |  |  |  |  | (6) |  |  | (27) |
Reconciling Adjustments |  |  |  |  |  | — |  |  | — |
Total income taxes (benefits) |  |  |  |  |  | $ | 90 |  |  | $ | 83 |
Earnings attributable to FE |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | 236 |  |  | $ | 265 |
Regulated Transmission |  |  |  |  |  | 114 |  |  | 125 |
Corporate/Other |  |  |  |  |  | (58) |  |  | (102) |
Reconciling Adjustments |  |  |  |  |  | — |  |  | — |
Total earnings attributable to FE |  |  |  |  |  | $ | 292 |  |  | $ | 288 |
Capital investments |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | 334 |  |  | $ | 336 |
Regulated Transmission |  |  |  |  |  | 308 |  |  | 197 |
Corporate/Other |  |  |  |  |  | 7 |  |  | 6 |
Reconciling Adjustments |  |  |  |  |  | — |  |  | — |
Total capital investments |  |  |  |  |  | $ | 649 |  |  | $ | 539 |
(In millions) |  |  |  |  |  | As of March 31, 2023 |  | As of December 31, 2022
Assets |  |  |  |  |  |  |  |
Regulated Distribution |  |  |  |  |  | $ | 31,886 |  |  | $ | 31,749 |
Regulated Transmission |  |  |  |  |  | 13,981 |  |  | 13,835 |
Corporate/Other |  |  |  |  |  | 612 |  |  | 524 |
Reconciling Adjustments |  |  |  |  |  | — |  |  | — |
Total assets |  |  |  |  |  | $ | 46,479 |  |  | $ | 46,108 |
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 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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