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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 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)
June 30, 2025
External revenues						$	1,665					$	1,260					$	451					$	3,376					$	4					$	—					$	3,380
Internal revenues						10						1						5						16						—						(16)						—
Total revenues						$	1,675					$	1,261					$	456					$	3,392					$	4					$	(16)					$	3,380
Other operating expenses(1)						634						306						74						1,014						(17)						(2)						995
Depreciation(1)						163						139						92						394						21						—						415
Amortization (deferral) of regulatory assets, net						(98)						(3)						2						(99)						—						—						(99)
Interest expense(1)						101						68						81						250						89						(40)						299
Income taxes (benefits)(1)						43						35						36						114						(26)						—						88
Other expense (income) items(2)						671						600						96						1,367						7						40						1,414
Earnings (losses) attributable to FE						161						116						75						352						(84)						—						268
Cash Flows from Investing Activities:
Capital investments						$	295					$	433					$	435					$	1,163					$	55					$	—					$	1,218
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
Other operating expenses(1)						640						338						91						1,069						103						(2)						1,170
Depreciation(1)						162						132						84						378						19						—						397
Amortization (deferral) of regulatory assets, net						(9)						—						1						(8)						—						—						(8)
Equity method investment earnings, net						—						—						—						—						22						—						22
Interest expense(1)						109						65						66						240						84						(39)						285
Income taxes (benefits)(1)						21						36						41						98						(33)						—						65
Other expense (income) items(2)						657						499						104						1,260						49						39						1,348
Earnings (losses) attributable to FE						68						108						81						257						(212)						—						45
Cash Flows from Investing Activities:
Capital investments						$	254					$	350					$	318					$	922					$	20					$	—					$	942
For the Six Months Ended
June 30, 2025
External revenues						$	3,592					$	2,608					$	937					$	7,137					$	8					$	—					$	7,145
Internal revenues						19						2						10						31						—						(31)						—
Total revenues						$	3,611					$	2,610					$	947					$	7,168					$	8					$	(31)					$	7,145
Other operating expenses(1)						1,261						643						172						2,076						(42)						(5)						2,029
Depreciation(1)						325						277						183						785						41						—						826
Amortization (deferral) of regulatory assets, net						(117)						5						3						(109)						—						—						(109)
Interest expense(1)						200						133						154						487						168						(68)						587
Income taxes (benefits)(1)						103						75						76						254						(40)						—						214
Other expense (income) items(2)						1,460						1,225						203						2,888						14						68						2,970
Earnings (losses) attributable to FE						379						252						156						787						(159)						—						628
Cash Flows from Investing Activities:
Capital investments						$	560					$	828					$	749					$	2,137					$	86					$	—					$	2,223

						Distribution						Integrated						Stand-Alone Transmission						Total Reportable Segments						Corporate/ Other						Reconciling Adjustments						FirstEnergy Consolidated
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
Other operating expenses(1)						1,227						692						167						2,086						95						(5)						2,176
Depreciation(1)						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(1)						225						136						131						492						201						(103)						590
Income taxes (benefits)(1)						62						71						101						234						(34)						—						200
Other expense (income) items(2)						1,442						1,008						174						2,624						13						103						2,740
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
As of June 30, 2025
Total assets						$	20,348					$	19,472					$	14,151					$	53,971					$	2,321					$	(2,062)					$	54,230
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, Debt redemption costs, 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)
June 30, 2025
External revenues						$	529					$	63					$	592											$	—					$	592
Internal revenues						44						—						44												(44)						—
Total revenues						$	573					$	63					$	636											$	(44)					$	592
Other operating expenses(1)						166						11						177												(44)						133
Depreciation(1)						53						12						65												—						65
Deferral of regulatory assets, net						(14)						—						(14)												—						(14)
Interest expense - other(1)						22						8						30												—						30
Interest expense - affiliates(1)						2						—						2												—						2
Income taxes						12						10						22												—						22
Other expense (income) items(2)						294						(6)						288												—						288
Net Income						38						28						66												—						66
Cash Flows from Investing Activities:
Capital investments						$	122					$	149					$	271											$	—					$	271

June 30, 2024
External revenues						$	491					$	66					$	557											$	—					$	557
Internal revenues						38						—						38												(38)						—
Total revenues						$	529					$	66					$	595											$	(38)					$	557
Other operating expenses(1)						179						17						196												(38)						158
Depreciation(1)						51						11						62												—						62
Deferral of regulatory assets, net						(34)						—						(34)												—						(34)
Interest expense - other(1)						17						5						22												—						22
Interest expense - affiliates(1)						6						—						6												—						6
Income taxes						13						8						21												—						21
Other expense (income) items(2)						259						6						265												—						265
Net Income						38						19						57												—						57
Cash Flows from Investing Activities:
Capital investments						$	75					$	118					$	193											$	—					$	193

For the Six Months Ended						Distribution						Transmission						Total Reportable Segments												Reconciling Adjustments						JCP&L
						(In millions)
June 30, 2025
External revenues						$	1,034					$	124					$	1,158											$	—					$	1,158
Internal revenues						87						—						87												(87)						—
Total revenues						$	1,121					$	124					$	1,245											$	(87)					$	1,158
Other operating expenses(1)						340						25						365												(87)						278
Depreciation(1)						106						24						130												—						130
Deferral of regulatory assets, net						(36)						—						(36)												—						(36)
Interest expense - other(1)						44						15						59												—						59
Interest expense - affiliates(1)						3						—						3												—						3
Income taxes						21						17						38												—						38
Other expense (income) items(2)						583						(12)						571												—						571
Net Income						60						55						115												—						115
Cash Flows from Investing Activities:
Capital investments						$	196					$	281					$	477											$	—					$	477

June 30, 2024
External revenues						$	905					$	118					$	1,023											$	—					$	1,023
Internal revenues						76						—						76												(76)						—
Total revenues						$	981					$	118					$	1,099											$	(76)					$	1,023
Other operating expenses(1)						390						31						421												(76)						345
Depreciation(1)						101						22						123												—						123
Deferral of regulatory assets, net						(73)						—						(73)												—						(73)
Interest expense - other(1)						40						12						52												—						52
Interest expense - affiliates(1)						10						—						10												—						10
Income taxes						3						14						17												—						17
Other expense (income) items(2)						499						1						500												—						500
Net Income						11						38						49												—						49
Cash Flows from Investing Activities:
Capital investments						$	146					$	241					$	387											$	—					$	387

As of June 30, 2025
Total assets						$	7,556					$	2,894					$	10,450											$	—					$	10,450
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, and Capitalized financing costs.

X

- 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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- References

No definition available.

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