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CAPITALIZATION (Tables)
 12 Months Ended
Dec. 31, 2024
Capitalization, Long-Term Debt and Equity [Abstract]  
Schedule of Dividends Declared and Paid Dividends declared and paid per share of common stock during 2024 and 2023 were as follows:
Dividends Declared Dividends Paid
2024202320242023
Q1 $0.425 $0.390 $0.410 $0.390 
Q2— 0.390 0.425 0.390 
Q30.850 0.410 0.425 0.390 
Q40.425 0.410 0.425 0.410 
Total $1.700 $1.600 $1.685 $1.580 
Schedule of Preferred stock and preference stock authorizations
FirstEnergy and certain of its subsidiaries are authorized to issue preferred stock and preference stock as of December 31, 2024, as follows:
Preferred StockPreference Stock
Shares AuthorizedPar ValueShares AuthorizedPar Value
FE5,000,000 $100   
OE6,000,000 $100 8,000,000 no par
OE8,000,000 $25   
CEI4,000,000 no par3,000,000 no par
TE3,000,000 $100 5,000,000 $25 
TE12,000,000 $25 
JCP&L15,600,000 no par
MP940,000 $100 
PE10,000,000 $0.01 
Schedule of Outstanding consolidated long-term debt and other long-term obligations
The following tables present outstanding long-term debt and finance lease obligations for FirstEnergy as of December 31, 2024 and 2023:

As of December 31, 2024As of December 31,
Maturity DateInterest Rate20242023
(In millions)
FMBs and secured notes - fixed rate2026-2059
2.650% - 8.250%
$4,963 $5,709 
Unsecured notes - fixed rate2025-2050
1.600% - 6.875%
18,631 18,545 
Finance lease obligations12 14 
Unamortized debt discounts(14)(9)
Unamortized debt issuance costs(122)(127)
Unamortized fair value adjustments3 3 
Currently payable long-term debt(977)(1,250)
Total long-term debt and other long-term obligations$22,496 $22,885 
FirstEnergy had the following redemptions and issuances during the twelve months ended December 31, 2024:

CompanyTypeRedemption/Issuance DateInterest RateMaturityAmount
(In millions)		Description
Redemptions(1)
FEUnsecured NotesApril, 20247.375%2031$463
FE redeemed all of its remaining $463 million of 2031 Notes including a premium of approximately $80 million ($63 million after-tax). In addition, FE recognized approximately $4 million ($3 million after-tax) of deferred cash flow hedge losses and $1 million in other unamortized debt costs and fees associated with the FE debt redemptions.
JCP&LUnsecured NotesApril, 20244.70%2024$500JCP&L redeemed unsecured notes that became due.
MPFMBsApril, 20244.10%2024$400MP redeemed FMBs that became due.
CEIFMBsAugust, 20245.50%2024$300CEI redeemed FMBs that became due.
FE PAUnsecured NotesDecember, 20244.00%2025$250
On December 30, 2024, FE PA caused to be redeemed $250 million of 4.00% senior notes due 2025.
FE PAUnsecured NotesDecember, 20244.15%2025$200
On December 30, 2024, FE PA caused to be redeemed $200 million of 4.15% senior notes due 2025.
FETUnsecured NotesDecember, 20244.35%2025$600
On December 30, 2024, FET caused to be redeemed $600 million of 4.35% senior notes due 2025.
Issuances
ATSIUnsecured NotesMarch, 20245.63%2034$150Proceeds were used to repay short-term borrowings, to finance capital expenditures and for other general corporate purposes.
MAITUnsecured NotesMay, 20245.94%2034$250Proceeds were used to repay short-term borrowings, to finance capital expenditures and for other general corporate purposes.
FETUnsecured Notes with registration rightsSeptember, 20244.55%2030$400
Proceeds were used to repay short-term borrowings, to redeem FET's $600 million 4.35% notes due 2025, to finance capital expenditures and for other general corporate purposes.
FETUnsecured Notes with registration rightsSeptember, 20245.00%2035$400
Proceeds were used to repay short-term borrowings, to redeem FET's $600 million 4.35% notes due 2025, to finance capital expenditures and for other general corporate purposes.
KATCoUnsecured NotesNovember, 20245.17%2035$200Proceeds were used to repay short-term borrowings, to finance capital expenditures and for other general corporate purposes.
JCP&LUnsecured Notes with registration rightsDecember, 20245.10%2035$700Proceeds were used to repay short-term borrowings, to finance capital expenditures and for other general corporate purposes.
(1) Excludes principal payments on securitized bonds.
Schedule of Maturities of Long-term Debt
The following table presents scheduled debt repayments or debt that has been noticed for redemption for outstanding long-term debt, excluding finance leases, fair value purchase accounting adjustments and unamortized debt discounts and premiums, for the next five years as of December 31, 2024.

(In millions)20252026202720282029
Scheduled debt repayments $973$2,876$2,003$2,453$1,064