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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Financial Information

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

(In millions) For the Three Months Ended						Distribution						Integrated						Stand-Alone Transmission						Total Reportable Segments						Corporate/ Other						Reconciling Adjustments						FirstEnergy Consolidated
June 30, 2024
External revenues						$	1,640					$	1,176					$	463					$	3,279					$	1					$	—					$	3,280
Internal revenues						8						2						5						15						—						(15)						—
Total revenues						$	1,648					$	1,178					$	468					$	3,294					$	1					$	(15)					$	3,280
Depreciation						162						132						84						378						19						—						397
Deferral of regulatory assets, net						(9)						—						1						(8)						—						—						(8)
Equity method investment earnings						—						—						—						—						22						—						22
Interest expense						109						65						66						240						84						(39)						285
Income taxes (benefits)						21						36						41						98						(33)						—						65
Earnings (loss) attributable to FE						68						108						81						257						(212)						—						45
Cash Flows from Investing Activities:
Capital investments						$	254					$	350					$	318					$	922					$	20					$	—					$	942
June 30, 2023
External revenues						$	1,616					$	955					$	432					$	3,003					$	3					$	—					$	3,006
Internal revenues						11						1						4						16						—						(16)						—
Total revenues						$	1,627					$	956					$	436					$	3,019					$	3					$	(16)					$	3,006
Depreciation						156						114						74						344						17						—						361
Amortization (deferral) of regulatory assets, net						(9)						(28)						4						(33)						—						—						(33)
Equity method investment earnings						—						—						—						—						35						—						35
Interest expense						96						61						59						216						84						(24)						276
Income taxes (benefits)						32						11						36						79						(5)						—						74
Earnings (losses) attributable to FE						145						75						105						325						(90)						—						235
Cash Flows from Investing Activities:
Capital investments						$	236					$	275					$	246					$	757					$	12					$	—					$	769
For the Six Months Ended
June 30, 2024
External revenues						$	3,396					$	2,270					$	897					$	6,563					$	4					$	—					$	6,567
Internal revenues						19						3						9						31						—						(31)						—
Total revenues						$	3,415					$	2,273					$	906					$	6,594					$	4					$	(31)					$	6,567
Depreciation						323						254						165						742						36						—						778
Amortization (deferral) of regulatory assets, net						(97)						(78)						3						(172)						—						—						(172)
Equity method investment earnings						—						—						—						—						43						—						43
Interest expense						225						136						131						492						201						(103)						590
Income taxes (benefits)						62						71						101						234						(34)						—						200
Earnings (losses) attributable to FE						$	233					$	190					$	165					$	588					$	(290)					$	—					$	298
Cash Flows from Investing Activities:
Capital investments						$	469					$	663					$	576					$	1,708					$	24					$	—					$	1,732
June 30, 2023
External revenues						$	3,423					$	1,981					$	828					$	6,232					$	5					$	—					$	6,237
Internal revenues						21						3						8						32						—						(32)						—
Total revenues						$	3,444					$	1,984					$	836					$	6,264					$	5					$	(32)					$	6,237
Depreciation						309						227						149						685						37						—						722
Amortization (deferral) of regulatory assets, net						(50)						(68)						5						(113)						—						—						(113)
Equity method investment earnings						—						—						—						—						91						—						91
Interest expense						190						120						117						427						161						(49)						539

Income taxes (benefits)						76						31						69						176						(12)						—						164
Earnings (losses) attributable to FE						$	331					$	145					$	201					$	677					$	(150)					$	—					$	527
Cash Flows from Investing Activities:
Capital investments						$	429					$	512					$	458					$	1,399					$	19					$	—					$	1,418
As of June 30, 2024
Total assets						$	19,736					$	17,815					$	12,634					$	50,185					$	2,716					$	(1,880)					$	51,021
Total goodwill(1)						$	3,222					$	1,953					$	443					$	5,618					$	—					$	—					$	5,618
As of December 31, 2023
Total assets						$	19,235					$	17,466					$	12,142					$	48,843					$	2,372					$	(2,448)					$	48,767
Total goodwill(1)						$	3,222					$	1,953					$	443					$	5,618					$	—					$	—					$	5,618

(1) In accordance with GAAP, the modification to the segments in the first quarter of 2024, as discussed above, resulted in a transfer of goodwill between the segments based on the relative fair value of the reporting units, and as such, the segment goodwill balances do not necessarily represent the goodwill balances of the specific legal entities within the segments.

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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
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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