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v3.25.2

REVENUE | 6 Months Ended
--- | ---
Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE The disclosures in this note apply to both Registrants, unless indicated otherwise. The following represents a disaggregation of FirstEnergy’s revenue from contracts with customers for the three and six months ended June 30, 2025 and 2024:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
|  | (In millions) |  |  |  |
Distribution |  |  |  |  |  |  |  |
Retail generation and distribution services: |  |  |  |  |  |  |  |
Residential |  | $ | 1,043 |  |  | $ | 1,054 |  |  | $ | 2,352 |  |  | $ | 2,238 |
Commercial |  | 409 |  |  | 384 |  |  | 824 |  |  | 758 |
Industrial |  | 162 |  |  | 153 |  |  | 314 |  |  | 299 |
Other |  | 18 |  |  | 18 |  |  | 37 |  |  | 38 |
Wholesale |  | 3 |  |  | 1 |  |  | 4 |  |  | 2 |
Other revenue from contracts with customers |  | 20 |  |  | 19 |  | 37 |  |  | 40
Total revenues from contracts with customers |  | 1,655 |  |  | 1,629 |  |  | 3,568 |  |  | 3,375 |
Other revenue unrelated to contracts with customers |  | 20 |  |  | 19 |  | 43 |  |  | 40
Total Distribution |  | $ | 1,675 |  |  | $ | 1,648 |  |  | $ | 3,611 |  |  | $ | 3,415 |
Integrated |  |  |  |  |  |  |  |
Retail generation and distribution services: |  |  |  |  |  |  |  |
Residential |  | $ | 598 |  |  | $ | 578 |  |  | $ | 1,306 |  |  | $ | 1,152 |
Commercial |  | 307 |  |  | 276 |  |  | 625 |  |  | 528 |
Industrial |  | 152 |  |  | 147 |  |  | 303 |  |  | 285 |
Other |  | 9 |  |  | 7 |  |  | 18 |  |  | 14 |
Wholesale |  | 78 |  |  | 38 |  |  | 125 |  |  | 68 |
Transmission |  | 111 |  |  | 116 |  | 211 |  |  | 197
Other revenue from contracts with customers |  | 4 |  |  | 8 |  |  | 5 |  |  | 13 |
Total revenues from contracts with customers |  | 1,259 |  |  | 1,170 |  |  | 2,593 |  |  | 2,257 |
Other revenue unrelated to contracts with customers |  | 2 |  |  | 8 |  | 17 |  |  | 16
Total Integrated |  | $ | 1,261 |  |  | $ | 1,178 |  |  | $ | 2,610 |  |  | $ | 2,273 |
Stand-Alone Transmission |  |  |  |  |  |  |  |
ATSI |  | $ | 256 |  |  | $ | 261 |  |  | $ | 518 |  |  | $ | 504 |
TrAIL |  | 61 |  |  | 71 |  |  | 131 |  |  | 138 |
MAIT |  | 113 |  |  | 110 |  |  | 244 |  |  | 214 |
KATCo |  | 21 |  |  | 23 |  |  | 44 |  |  | 43 |
Other |  | — |  |  | (2) |  |  | — |  |  | (2) |
Total revenues from contracts with customers |  | 451 |  |  | 463 |  |  | 937 |  |  | 897 |
Other revenue unrelated to contracts with customers |  | 5 |  |  | 5 |  |  | 10 |  |  | 9 |
Total Stand-Alone Transmission |  | $ | 456 |  |  | $ | 468 |  |  | $ | 947 |  |  | $ | 906 |
Corporate/Other, Eliminations and Reconciling Adjustments (1) |  |  |  |  |  |  |  |
Wholesale |  | $ | 4 |  |  | $ | 1 |  |  | $ | 8 |  |  | $ | 4 |
Eliminations and reconciling adjustments |  | (16) |  |  | (15) |  |  | (31) |  |  | (31) |
Total Corporate/Other, Eliminations and Reconciling Adjustments |  | $ | (12) |  |  | $ | (14) |  |  | $ | (23) |  |  | $ | (27) |
FirstEnergy Total Revenues |  | $ | 3,380 |  |  | $ | 3,280 |  |  | $ | 7,145 |  |  | $ | 6,567 |
(1) Includes eliminations and reconciling adjustments of inter-segment revenues. The following table represents a disaggregation of JCP&L’s revenue from contracts with customers for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In millions) |  |  |  |
Distribution |  |  |  |  |  |  |
Retail generation and distribution services: |  |  |  |  |  |  |
Residential | $ | 369 |  |  | $ | 349 |  |  | $ | 712 |  |  | $ | 635 |
Commercial | 175 |  |  | 153 |  |  | 350 |  |  | 290 |
Industrial | 18 |  |  | 17 |  |  | 38 |  |  | 34 |
Other | 6 |  |  | 5 |  |  | 11 |  |  | 9 |
Wholesale | — |  |  | — |  |  | 1 |  |  | 2 |
Other revenue from contracts with customers | 4 |  |  | 4 |  |  | 7 |  |  | 9 |
Total revenues from contracts with customers | 572 |  |  | 528 |  |  | 1,119 |  |  | 979 |
Other revenue unrelated to contracts with customers | 1 |  |  | 1 |  |  | 2 |  |  | 2 |
Total Distribution Segment Revenue | $ | 573 |  |  | $ | 529 |  |  | $ | 1,121 |  |  | $ | 981 |
Transmission |  |  |  |  |  |  |
Total Transmission Segment Revenue | $ | 63 |  |  | $ | 66 |  |  | $ | 124 |  |  | $ | 118 |
Reconciling Adjustments(1) |  |  |  |  |  |  |
Retail generation and distribution services | $ | (44) |  |  | $ | (38) |  |  | $ | (87) |  |  | $ | (76) |
JCP&L Total Revenues | $ | 592 |  |  | $ | 557 |  |  | $ | 1,158 |  |  | $ | 1,023 |
(1) Includes eliminations and reconciling adjustments of inter-segment revenues. Customer Receivables Receivables from contracts with customers include distribution services and retail generation sales to residential, commercial and industrial customers. Billed and unbilled customer receivables as of June 30, 2025, and December 31, 2024, are included below:
Customer Receivables - FirstEnergy |  | June 30, 2025 |  | December 31, 2024 |
|  | (In millions)
Billed |  | $ | 848 |  |  | $ | 867 |  |
Unbilled |  | 799 |  |  | 718 |  |
|  | 1,647 |  |  | 1,585 |  |
Less: Uncollectible Reserve |  | 50 |  |  | 55 |  |
Total FirstEnergy Customer Receivables |  | $ | 1,597 |  |  | $ | 1,530 |  |
Customer Receivables - JCP&L |  | June 30, 2025 |  | December 31, 2024
|  | (In millions)
Billed |  | $ | 161 |  |  | $ | 166 |
Unbilled |  | 171 |  |  | 118 |
|  | 332 |  |  | 284 |
Less: Uncollectible Reserve |  | 5 |  |  | 6 |
Total JCP&L Customer Receivables |  | $ | 327 |  |  | $ | 278 |
The allowance for uncollectible customer receivables is based on historical loss information comprised of a rolling 36-month average net write-off percentage of revenues, in conjunction with a qualitative assessment of elements that impact the collectability of receivables to determine if allowances for uncollectible customer receivables should be further adjusted in accordance with the accounting guidance for credit losses. The Registrants review allowance for uncollectible customer receivables utilizing a quantitative and qualitative assessment. Management contemplates available current information such as changes in economic factors, regulatory matters, industry trends, customer credit factors, amount of receivable balances that are past-due, payment options and programs available to customers, and the methods that the Electric Companies are able to utilize to ensure payment. The Registrants’ uncollectible risk on PJM receivables, resulting from transmission and wholesale sales, is minimal due to the nature of PJM’s settlement process and as a result there is no current allowance for doubtful accounts. Activity in the allowance for uncollectible accounts on customer receivables for the six months ended June 30, 2025, and for the year ended December 31, 2024 are as follows:
|  | FirstEnergy |  | JCP&L
|  | (In millions)
Balance, January 1, 2024 |  | $ | 64 |  |  | $ | 9 |
Provision for expected credit losses(1)(2) |  | 73 |  |  | 5 |
Charged to other accounts(3) |  | 39 |  |  | 4 |
Write-offs |  | (121) |  |  | (12) |
Balance, December 31, 2024 |  | $ | 55 |  |  | $ | 6 |
Provision for expected credit losses(1)(2) |  | 44 |  |  | 2 |
Charged to other accounts(3) |  | 18 |  |  | 2 |
Write-offs |  | (67) |  |  | (5) |
Balance, June 30, 2025 |  | $ | 50 |  |  | $ | 5 |
(1) Approximately $15 million and $17 million of which was deferred for future recovery for FirstEnergy in the six months ended June 30, 2025, and the year ended December 31, 2024, respectively. (2) Approximately $2 million and $5 million of which was deferred for future recovery for JCP&L in the six months ended June 30, 2025, and the year ended December 31, 2024, respectively. (3) Represents recoveries and reinstatements of accounts written off for uncollectible accounts.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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