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v3.25.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Financial Information | Financial information for FirstEnergy’s reportable segments and reconciliations to consolidated amounts is presented below:
For the Three Months Ended |  | Distribution |  | Integrated |  | Stand-Alone Transmission |  | Total Reportable Segments |  | Corporate/ Other |  | Reconciling Adjustments |  | FirstEnergy Consolidated
|  | (In millions)
March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,927 |  |  | $ | 1,348 |  |  | $ | 486 |  |  | $ | 3,761 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 3,765 |
Internal revenues |  | 9 |  |  | 1 |  |  | 5 |  |  | 15 |  |  | — |  |  | (15) |  |  | — |
Total revenues |  | $ | 1,936 |  |  | $ | 1,349 |  |  | $ | 491 |  |  | $ | 3,776 |  |  | $ | 4 |  |  | $ | (15) |  |  | $ | 3,765 |
Other operating expenses(1) |  | 627 |  |  | 337 |  |  | 98 |  |  | 1,062 |  |  | (25) |  |  | (3) |  |  | 1,034 |
Depreciation(1) |  | 162 |  |  | 138 |  |  | 91 |  |  | 391 |  |  | 20 |  |  | — |  |  | 411 |
Amortization (deferral) of regulatory assets, net |  | (19) |  |  | 8 |  |  | 1 |  |  | (10) |  |  | — |  |  | — |  |  | (10) |
Interest expense(1) |  | 99 |  |  | 65 |  |  | 73 |  |  | 237 |  |  | 79 |  |  | (28) |  |  | 288 |
Income taxes (benefits)(1) |  | 60 |  |  | 40 |  |  | 40 |  |  | 140 |  |  | (14) |  |  | — |  |  | 126 |
Other expense (income) items(2) |  | 789 |  |  | 625 |  |  | 107 |  |  | 1,521 |  |  | 7 |  |  | 28 |  |  | 1,556 |
Earnings attributable to FE |  | 218 |  |  | 136 |  |  | 81 |  |  | 435 |  |  | (75) |  |  | — |  |  | 360 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital investments |  | $ | 265 |  |  | $ | 395 |  |  | $ | 314 |  |  | $ | 974 |  |  | $ | 31 |  |  | $ | — |  |  | $ | 1,005 |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,756 |  |  | $ | 1,094 |  |  | $ | 434 |  |  | $ | 3,284 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3,287 |
Internal revenues |  | 11 |  |  | 1 |  |  | 4 |  |  | 16 |  |  | — |  |  | (16) |  |  | — |
Total revenues |  | $ | 1,767 |  |  | $ | 1,095 |  |  | $ | 438 |  |  | $ | 3,300 |  |  | $ | 3 |  |  | $ | (16) |  |  | $ | 3,287 |
Other operating expenses(1) |  | 587 |  |  | 354 |  |  | 76 |  |  | 1,017 |  |  | (8) |  |  | (3) |  |  | 1,006 |
Depreciation(1) |  | 161 |  |  | 122 |  |  | 81 |  |  | 364 |  |  | 17 |  |  | — |  |  | 381 |
Amortization (deferral) of regulatory assets, net |  | (88) |  |  | (78) |  |  | 2 |  |  | (164) |  |  | — |  |  | — |  |  | (164) |
Equity method investment earnings, net |  | — |  |  | — |  |  | — |  |  | — |  |  | 21 |  |  | — |  |  | 21 |
Interest expense(1) |  | 116 |  |  | 71 |  |  | 65 |  |  | 252 |  |  | 117 |  |  | (64) |  |  | 305 |
Income taxes (benefits)(1) |  | 41 |  |  | 35 |  |  | 60 |  |  | 136 |  |  | (1) |  |  | — |  |  | 135 |
Other expense (income) items(2) |  | 785 |  |  | 509 |  |  | 70 |  |  | 1,364 |  |  | (36) |  |  | 64 |  |  | 1,392 |
Earnings attributable to FE |  | 165 |  |  | 82 |  |  | 84 |  |  | 331 |  |  | (78) |  |  | — |  |  | 253 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital investments |  | $ | 215 |  |  | $ | 313 |  |  | $ | 258 |  |  | $ | 786 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 790 |
As of March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 20,372 |  |  | $ | 18,812 |  |  | $ | 13,665 |  |  | $ | 52,849 |  |  | $ | 1,837 |  |  | $ | (1,915) |  |  | $ | 52,771 |
Total goodwill |  | $ | 3,222 |  |  | $ | 1,953 |  |  | $ | 443 |  |  | $ | 5,618 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,618 |
As of December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 19,949 |  |  | $ | 18,637 |  |  | $ | 13,528 |  |  | $ | 52,114 |  |  | $ | 1,975 |  |  | $ | (2,045) |  |  | $ | 52,044 |
Total goodwill |  | $ | 3,222 |  |  | $ | 1,953 |  |  | $ | 443 |  |  | $ | 5,618 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,618 |
(1) FirstEnergy considers this line to be a significant expense. (2) Consists of Fuel, Purchased power, General taxes, Miscellaneous income, net, Capitalized financing costs, and Income attributable to noncontrolling interest. Financial information for JCP&L’s reportable segments and reconciliations are presented below:
For the Three Months Ended |  | Distribution |  | Transmission |  | Total Reportable Segments |  |  |  | Reconciling Adjustments |  | JCP&L
|  | (In millions)
March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 505 |  |  | $ | 61 |  |  | $ | 566 |  |  |  |  | $ | — |  |  | $ | 566 |
Internal revenues |  | 43 |  |  | — |  |  | 43 |  |  |  |  | (43) |  |  | — |
Total revenues |  | $ | 548 |  |  | $ | 61 |  |  | $ | 609 |  |  |  |  | $ | (43) |  |  | $ | 566 |
Other operating expenses(1) |  | 174 |  |  | 14 |  |  | 188 |  |  |  |  | (43) |  |  | 145 |
Depreciation(1) |  | 53 |  |  | 12 |  |  | 65 |  |  |  |  | — |  |  | 65 |
Deferral of regulatory assets, net |  | (22) |  |  | — |  |  | (22) |  |  |  |  | — |  |  | (22) |
Interest expense - other(1) |  | 22 |  |  | 7 |  |  | 29 |  |  |  |  | — |  |  | 29 |
Interest expense - affiliates(1) |  | 1 |  |  | — |  |  | 1 |  |  |  |  | — |  |  | 1 |
Income taxes |  | 7 |  |  | 9 |  |  | 16 |  |  |  |  | — |  |  | 16 |
Other expense (income) items(2) |  | 289 |  |  | (6) |  |  | 283 |  |  |  |  | — |  |  | 283 |
Net Income |  | 24 |  |  | 25 |  |  | 49 |  |  |  |  | — |  |  | 49 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Capital investments |  | $ | 74 |  |  | $ | 132 |  |  | $ | 206 |  |  |  |  | $ | — |  |  | $ | 206 |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 414 |  |  | $ | 52 |  |  | $ | 466 |  |  |  |  | $ | — |  |  | $ | 466 |
Internal revenues |  | 38 |  |  | — |  |  | 38 |  |  |  |  | (38) |  |  | — |
Total revenues |  | $ | 452 |  |  | $ | 52 |  |  | $ | 504 |  |  |  |  | $ | (38) |  |  | $ | 466 |
Other operating expenses(1) |  | 211 |  |  | 14 |  |  | 225 |  |  |  |  | (38) |  |  | 187 |
Depreciation(1) |  | 50 |  |  | 11 |  |  | 61 |  |  |  |  | — |  |  | 61 |
Deferral of regulatory assets, net |  | (39) |  |  | — |  |  | (39) |  |  |  |  | — |  |  | (39) |
Interest expense - other(1) |  | 23 |  |  | 7 |  |  | 30 |  |  |  |  | — |  |  | 30 |
Interest expense - affiliates(1) |  | 4 |  |  | — |  |  | 4 |  |  |  |  | — |  |  | 4 |
Income taxes (benefits) |  | (11) |  |  | 7 |  |  | (4) |  |  |  |  | — |  |  | (4) |
Other expense (income) items(2) |  | 240 |  |  | (5) |  |  | 235 |  |  |  |  | — |  |  | 235 |
Net Income (Loss) |  | (26) |  |  | 18 |  |  | (8) |  |  |  |  | — |  |  | (8) |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Capital investments |  | $ | 71 |  |  | $ | 123 |  |  | $ | 194 |  |  |  |  | $ | — |  |  | $ | 194 |
As of March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 7,271 |  |  | $ | 2,802 |  |  | $ | 10,073 |  |  |  |  | $ | — |  |  | $ | 10,073 |
Total goodwill |  | $ | 1,213 |  |  | $ | 598 |  |  | $ | 1,811 |  |  |  |  | $ | — |  |  | $ | 1,811 |
As of December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 7,212 |  |  | $ | 2,715 |  |  | $ | 9,927 |  |  |  |  | $ | — |  |  | $ | 9,927 |
Total goodwill |  | $ | 1,213 |  |  | $ | 598 |  |  | $ | 1,811 |  |  |  |  | $ | — |  |  | $ | 1,811 |
(1) JCP&L considers this line to be a significant expense. (2) Consists of Purchased power, General taxes, Miscellaneous income, net, Interest income from affiliates, and Capitalized financing costs.

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