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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 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
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,806 |  |  | $ | 1,451 |  |  | $ | 470 |  |  | $ | 3,727 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 3,729 |
Internal revenues |  | 11 |  |  | 1 |  |  | 5 |  |  | 17 |  |  | — |  |  | (17) |  |  | — |
Total revenues |  | $ | 1,817 |  |  | $ | 1,452 |  |  | $ | 475 |  |  | $ | 3,744 |  |  | $ | 2 |  |  | $ | (17) |  |  | $ | 3,729 |
Depreciation |  | 163 |  |  | 132 |  |  | 84 |  |  | 379 |  |  | 21 |  |  | — |  |  | 400 |
Amortization (deferral) of regulatory assets, net |  | (55) |  |  | 20 |  |  | 2 |  |  | (33) |  |  | — |  |  | — |  |  | (33) |
Equity method investment earnings |  | — |  |  | — |  |  | — |  |  | — |  |  | 21 |  |  | — |  |  | 21 |
Interest expense |  | 106 |  |  | 62 |  |  | 70 |  |  | 238 |  |  | 80 |  |  | (42) |  |  | 276 |
Income taxes (benefits) |  | 34 |  |  | 36 |  |  | 40 |  |  | 110 |  |  | (16) |  |  | — |  |  | 94 |
Earnings (losses) attributable to FE from continuing operations |  | 193 |  |  | 197 |  |  | 72 |  |  | 462 |  |  | (43) |  |  | — |  |  | 419 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital investments |  | $ | 289 |  |  | $ | 382 |  |  | $ | 299 |  |  | $ | 970 |  |  | $ | 34 |  |  | $ | — |  |  | $ | 1,004 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,786 |  |  | $ | 1,266 |  |  | $ | 434 |  |  | $ | 3,486 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 3,487 |
Internal revenues |  | 9 |  |  | — |  |  | 5 |  |  | 14 |  |  | — |  |  | (14) |  |  | — |
Total revenues |  | $ | 1,795 |  |  | $ | 1,266 |  |  | $ | 439 |  |  | $ | 3,500 |  |  | $ | 1 |  |  | $ | (14) |  |  | $ | 3,487 |
Depreciation |  | 155 |  |  | 116 |  |  | 77 |  |  | 348 |  |  | 18 |  |  | — |  |  | 366 |
Amortization (deferral) of regulatory assets, net |  | (124) |  |  | (17) |  |  | 1 |  |  | (140) |  |  | — |  |  | — |  |  | (140) |
Equity method investment earnings |  | — |  |  | — |  |  | — |  |  | — |  |  | 43 |  |  | — |  |  | 43 |
Interest expense |  | 100 |  |  | 67 |  |  | 62 |  |  | 229 |  |  | 87 |  |  | (27) |  |  | 289 |
Income taxes (benefits) |  | 46 |  |  | 12 |  |  | 33 |  |  | 91 |  |  | (62) |  |  | — |  |  | 29 |
Earnings attributable to FE from continuing operations |  | 175 |  |  | 145 |  |  | 100 |  |  | 420 |  |  | 1 |  |  | — |  |  | 421 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital investments |  | $ | 233 |  |  | $ | 312 |  |  | $ | 289 |  |  | $ | 834 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 848 |
For the Nine Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 5,202 |  |  | $ | 3,721 |  |  | $ | 1,367 |  |  | $ | 10,290 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 10,296 |
Internal revenues |  | 30 |  |  | 4 |  |  | 14 |  |  | 48 |  |  | — |  |  | (48) |  |  | — |
Total revenues |  | $ | 5,232 |  |  | $ | 3,725 |  |  | $ | 1,381 |  |  | $ | 10,338 |  |  | $ | 6 |  |  | $ | (48) |  |  | $ | 10,296 |
Depreciation |  | 486 |  |  | 386 |  |  | 249 |  |  | 1,121 |  |  | 57 |  |  | — |  |  | 1,178 |
Amortization (deferral) of regulatory assets, net |  | (152) |  |  | (58) |  |  | 5 |  |  | (205) |  |  | — |  |  | — |  |  | (205) |
Equity method investment earnings |  | — |  |  | — |  |  | — |  |  | — |  |  | 64 |  |  | — |  |  | 64 |
Interest expense |  | 331 |  |  | 198 |  |  | 201 |  |  | 730 |  |  | 281 |  |  | (145) |  |  | 866 |
Income taxes (benefits) |  | 96 |  |  | 107 |  |  | 141 |  |  | 344 |  |  | (50) |  |  | — |  |  | 294 |
Earnings (losses) attributable to FE from continuing operations |  | $ | 426 |  |  | $ | 387 |  |  | $ | 237 |  |  | $ | 1,050 |  |  | $ | (333) |  |  | $ | — |  |  | $ | 717 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital investments |  | $ | 758 |  |  | $ | 1,045 |  |  | $ | 875 |  |  | $ | 2,678 |  |  | $ | 58 |  |  | $ | — |  |  | $ | 2,736 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 5,209 |  |  | $ | 3,247 |  |  | $ | 1,262 |  |  | $ | 9,718 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 9,724 |
Internal revenues |  | 30 |  |  | 3 |  |  | 13 |  |  | 46 |  |  | — |  |  | (46) |  |  | — |
Total revenues |  | $ | 5,239 |  |  | $ | 3,250 |  |  | $ | 1,275 |  |  | $ | 9,764 |  |  | $ | 6 |  |  | $ | (46) |  |  | $ | 9,724 |
Depreciation |  | 464 |  |  | 343 |  |  | 226 |  |  | 1,033 |  |  | 55 |  |  | — |  |  | 1,088 |
Amortization (deferral) of regulatory assets, net |  | (174) |  |  | (85) |  |  | 6 |  |  | (253) |  |  | — |  |  | — |  |  | (253) |
Equity method investment earnings |  | — |  |  | — |  |  | — |  |  | — |  |  | 134 |  |  | — |  |  | 134 |
Interest expense |  | 290 |  |  | 187 |  |  | 179 |  |  | 656 |  |  | 248 |  |  | (76) |  |  | 828 |
Income taxes (benefits) |  | 122 |  |  | 43 |  |  | 102 |  |  | 267 |  |  | (74) |  |  | — |  |  | 193 |
Earnings (losses) attributable to FE from continuing operations |  | $ | 506 |  |  | $ | 290 |  |  | $ | 301 |  |  | $ | 1,097 |  |  | $ | (149) |  |  | $ | — |  |  | $ | 948 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital investments |  | $ | 662 |  |  | $ | 824 |  |  | $ | 747 |  |  | $ | 2,233 |  |  | $ | 33 |  |  | $ | — |  |  | $ | 2,266 |
As of September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 19,795 |  |  | $ | 18,082 |  |  | $ | 13,363 |  |  | $ | 51,240 |  |  | $ | 1,879 |  |  | $ | (2,363) |  |  | $ | 50,756 |
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 + Details
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