10-Q 1 fe-20220630.htm 10-Q fe-20220630
000103129612/312022Q2FALSE7000.3338503830252.651502.771003.341503.795002.851.517152841.110180751081006.090.2251483203315810459.6941.2649439073314640291120159051158239621080604525700,0002402204626144312242261612.93.32.02.53.13.02.72.455722.67.719.61.57.719.62.9941625085100142321214827360301036532306011511537.537.5631805619.92.37500010312962022-01-012022-06-3000010312962022-06-30xbrli:shares0001031296us-gaap:ElectricityUsRegulatedMember2022-04-012022-06-30iso4217:USD0001031296us-gaap:ElectricityUsRegulatedMember2021-04-012021-06-300001031296us-gaap:ElectricityUsRegulatedMember2022-01-012022-06-300001031296us-gaap:ElectricityUsRegulatedMember2021-01-012021-06-300001031296us-gaap:ElectricTransmissionMember2022-04-012022-06-300001031296us-gaap:ElectricTransmissionMember2021-04-012021-06-300001031296us-gaap:ElectricTransmissionMember2022-01-012022-06-300001031296us-gaap:ElectricTransmissionMember2021-01-012021-06-300001031296fe:ElectricWorldwideUnregulatedRevenueMember2022-04-012022-06-300001031296fe:ElectricWorldwideUnregulatedRevenueMember2021-04-012021-06-300001031296fe:ElectricWorldwideUnregulatedRevenueMember2022-01-012022-06-300001031296fe:ElectricWorldwideUnregulatedRevenueMember2021-01-012021-06-3000010312962022-04-012022-06-3000010312962021-04-012021-06-3000010312962021-01-012021-06-30iso4217:USDxbrli:shares00010312962021-01-012021-03-3100010312962021-12-310001031296fe:CustomerMember2022-06-300001031296fe:CustomerMember2021-12-310001031296fe:OtherReceivablesMember2022-06-300001031296fe:OtherReceivablesMember2021-12-310001031296us-gaap:CommonStockMember2021-12-310001031296us-gaap:AdditionalPaidInCapitalMember2021-12-310001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001031296us-gaap:RetainedEarningsMember2021-12-310001031296us-gaap:ParentMember2021-12-310001031296us-gaap:NoncontrollingInterestMember2021-12-310001031296us-gaap:RetainedEarningsMember2022-01-012022-03-310001031296us-gaap:ParentMember2022-01-012022-03-3100010312962022-01-012022-03-310001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001031296us-gaap:CommonStockMember2022-01-012022-03-310001031296us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001031296us-gaap:CommonStockMember2022-03-310001031296us-gaap:AdditionalPaidInCapitalMember2022-03-310001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310001031296us-gaap:RetainedEarningsMember2022-03-310001031296us-gaap:ParentMember2022-03-310001031296us-gaap:NoncontrollingInterestMember2022-03-3100010312962022-03-310001031296us-gaap:RetainedEarningsMember2022-04-012022-06-300001031296us-gaap:ParentMember2022-04-012022-06-300001031296us-gaap:NoncontrollingInterestMember2022-04-012022-06-300001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300001031296us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001031296us-gaap:CommonStockMember2022-06-300001031296us-gaap:AdditionalPaidInCapitalMember2022-06-300001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001031296us-gaap:RetainedEarningsMember2022-06-300001031296us-gaap:ParentMember2022-06-300001031296us-gaap:NoncontrollingInterestMember2022-06-300001031296us-gaap:CommonStockMember2020-12-310001031296us-gaap:AdditionalPaidInCapitalMember2020-12-310001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001031296us-gaap:RetainedEarningsMember2020-12-310001031296us-gaap:ParentMember2020-12-310001031296us-gaap:NoncontrollingInterestMember2020-12-3100010312962020-12-310001031296us-gaap:RetainedEarningsMember2021-01-012021-03-310001031296us-gaap:ParentMember2021-01-012021-03-310001031296us-gaap:CommonStockMember2021-01-012021-03-310001031296us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310001031296us-gaap:CommonStockMember2021-03-310001031296us-gaap:AdditionalPaidInCapitalMember2021-03-310001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001031296us-gaap:RetainedEarningsMember2021-03-310001031296us-gaap:ParentMember2021-03-310001031296us-gaap:NoncontrollingInterestMember2021-03-3100010312962021-03-310001031296us-gaap:RetainedEarningsMember2021-04-012021-06-300001031296us-gaap:ParentMember2021-04-012021-06-300001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001031296us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001031296us-gaap:CommonStockMember2021-06-300001031296us-gaap:AdditionalPaidInCapitalMember2021-06-300001031296us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001031296us-gaap:RetainedEarningsMember2021-06-300001031296us-gaap:ParentMember2021-06-300001031296us-gaap:NoncontrollingInterestMember2021-06-3000010312962021-06-300001031296fe:RegulatedDistributionMember2022-06-30fe:company0001031296fe:RegulatedDistributionMember2022-01-012022-06-30fe:customerutr:mife:transmissionCenterutr:MW0001031296fe:WaverlyNewYorkMemberfe:PennsylvaniaElectricCompanyMember2022-01-012022-06-300001031296fe:DeferredRegulatoryAssetsMember2022-01-012022-03-3100010312962021-01-012021-12-31fe:employee0001031296fe:FetMemberfe:NorthAmericanTransmissionCompanyIILLCMember2022-05-31xbrli:pure0001031296fe:FetMemberfe:NorthAmericanTransmissionCompanyIILLCMember2022-05-312022-05-310001031296fe:FetMember2022-05-312022-05-310001031296fe:FetMember2022-05-31fe:director0001031296fe:FetMembersrt:ParentCompanyMember2022-05-310001031296us-gaap:OperatingSegmentsMemberfe:DistributionServicesMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:DistributionServicesMember2022-04-012022-06-300001031296fe:DistributionServicesMemberus-gaap:IntersegmentEliminationMember2022-04-012022-06-300001031296fe:DistributionServicesMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RetailGenerationMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:RetailGenerationMember2022-04-012022-06-300001031296fe:RetailGenerationMemberus-gaap:IntersegmentEliminationMember2022-04-012022-06-300001031296fe:RetailGenerationMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:WholesaleSalesMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:WholesaleSalesMember2022-04-012022-06-300001031296fe:WholesaleSalesMemberus-gaap:IntersegmentEliminationMember2022-04-012022-06-300001031296fe:WholesaleSalesMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:TransmissionServicesMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:TransmissionServicesMember2022-04-012022-06-300001031296fe:TransmissionServicesMemberus-gaap:IntersegmentEliminationMember2022-04-012022-06-300001031296fe:TransmissionServicesMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:OtherServicesMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:OtherServicesMember2022-04-012022-06-300001031296fe:OtherServicesMemberus-gaap:IntersegmentEliminationMember2022-04-012022-06-300001031296fe:OtherServicesMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMember2022-04-012022-06-300001031296us-gaap:IntersegmentEliminationMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberus-gaap:ProductAndServiceOtherMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberus-gaap:ProductAndServiceOtherMember2022-04-012022-06-300001031296us-gaap:ProductAndServiceOtherMemberus-gaap:IntersegmentEliminationMember2022-04-012022-06-300001031296us-gaap:ProductAndServiceOtherMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:DistributionServicesMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:DistributionServicesMember2021-04-012021-06-300001031296fe:DistributionServicesMemberus-gaap:IntersegmentEliminationMember2021-04-012021-06-300001031296fe:DistributionServicesMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RetailGenerationMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:RetailGenerationMember2021-04-012021-06-300001031296fe:RetailGenerationMemberus-gaap:IntersegmentEliminationMember2021-04-012021-06-300001031296fe:RetailGenerationMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:WholesaleSalesMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:WholesaleSalesMember2021-04-012021-06-300001031296fe:WholesaleSalesMemberus-gaap:IntersegmentEliminationMember2021-04-012021-06-300001031296fe:WholesaleSalesMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:TransmissionServicesMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:TransmissionServicesMember2021-04-012021-06-300001031296fe:TransmissionServicesMemberus-gaap:IntersegmentEliminationMember2021-04-012021-06-300001031296fe:TransmissionServicesMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:OtherServicesMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:OtherServicesMember2021-04-012021-06-300001031296fe:OtherServicesMemberus-gaap:IntersegmentEliminationMember2021-04-012021-06-300001031296fe:OtherServicesMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMember2021-04-012021-06-300001031296us-gaap:IntersegmentEliminationMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberus-gaap:ProductAndServiceOtherMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberus-gaap:ProductAndServiceOtherMember2021-04-012021-06-300001031296us-gaap:ProductAndServiceOtherMemberus-gaap:IntersegmentEliminationMember2021-04-012021-06-300001031296us-gaap:ProductAndServiceOtherMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:DistributionServicesMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:DistributionServicesMember2022-01-012022-06-300001031296fe:DistributionServicesMemberus-gaap:IntersegmentEliminationMember2022-01-012022-06-300001031296fe:DistributionServicesMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RetailGenerationMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:RetailGenerationMember2022-01-012022-06-300001031296fe:RetailGenerationMemberus-gaap:IntersegmentEliminationMember2022-01-012022-06-300001031296fe:RetailGenerationMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:WholesaleSalesMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:WholesaleSalesMember2022-01-012022-06-300001031296fe:WholesaleSalesMemberus-gaap:IntersegmentEliminationMember2022-01-012022-06-300001031296fe:WholesaleSalesMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:TransmissionServicesMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:TransmissionServicesMember2022-01-012022-06-300001031296fe:TransmissionServicesMemberus-gaap:IntersegmentEliminationMember2022-01-012022-06-300001031296fe:TransmissionServicesMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:OtherServicesMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:OtherServicesMember2022-01-012022-06-300001031296fe:OtherServicesMemberus-gaap:IntersegmentEliminationMember2022-01-012022-06-300001031296fe:OtherServicesMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMember2022-01-012022-06-300001031296us-gaap:IntersegmentEliminationMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberus-gaap:ProductAndServiceOtherMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberus-gaap:ProductAndServiceOtherMember2022-01-012022-06-300001031296us-gaap:ProductAndServiceOtherMemberus-gaap:IntersegmentEliminationMember2022-01-012022-06-300001031296us-gaap:ProductAndServiceOtherMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:DistributionServicesMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:DistributionServicesMember2021-01-012021-06-300001031296fe:DistributionServicesMemberus-gaap:IntersegmentEliminationMember2021-01-012021-06-300001031296fe:DistributionServicesMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RetailGenerationMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:RetailGenerationMember2021-01-012021-06-300001031296fe:RetailGenerationMemberus-gaap:IntersegmentEliminationMember2021-01-012021-06-300001031296fe:RetailGenerationMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:WholesaleSalesMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:WholesaleSalesMember2021-01-012021-06-300001031296fe:WholesaleSalesMemberus-gaap:IntersegmentEliminationMember2021-01-012021-06-300001031296fe:WholesaleSalesMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:TransmissionServicesMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:TransmissionServicesMember2021-01-012021-06-300001031296fe:TransmissionServicesMemberus-gaap:IntersegmentEliminationMember2021-01-012021-06-300001031296fe:TransmissionServicesMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:OtherServicesMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:OtherServicesMember2021-01-012021-06-300001031296fe:OtherServicesMemberus-gaap:IntersegmentEliminationMember2021-01-012021-06-300001031296fe:OtherServicesMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMember2021-01-012021-06-300001031296us-gaap:IntersegmentEliminationMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedDistributionMemberfe:AlternativeRevenueProgramMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:AlternativeRevenueProgramMember2021-01-012021-06-300001031296us-gaap:IntersegmentEliminationMemberfe:AlternativeRevenueProgramMember2021-01-012021-06-300001031296fe:AlternativeRevenueProgramMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberus-gaap:ProductAndServiceOtherMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberus-gaap:ProductAndServiceOtherMember2021-01-012021-06-300001031296us-gaap:ProductAndServiceOtherMemberus-gaap:IntersegmentEliminationMember2021-01-012021-06-300001031296us-gaap:ProductAndServiceOtherMember2021-01-012021-06-300001031296fe:OtherNonCustomerRevenueMember2022-04-012022-06-300001031296fe:OtherNonCustomerRevenueMember2021-04-012021-06-300001031296fe:OtherNonCustomerRevenueMemberfe:DerivativeRevenueMember2022-04-012022-06-300001031296fe:OtherNonCustomerRevenueMemberfe:DerivativeRevenueMember2021-04-012021-06-300001031296fe:OtherNonCustomerRevenueMember2022-01-012022-06-300001031296fe:OtherNonCustomerRevenueMember2021-01-012021-06-300001031296fe:OtherNonCustomerRevenueMemberfe:DerivativeRevenueMember2022-01-012022-06-300001031296fe:OtherNonCustomerRevenueMemberfe:DerivativeRevenueMember2021-01-012021-06-300001031296fe:ResidentialCustomersMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296fe:ResidentialCustomersMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296fe:ResidentialCustomersMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296fe:ResidentialCustomersMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296fe:CommercialCustomersMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296fe:CommercialCustomersMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296fe:CommercialCustomersMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296fe:CommercialCustomersMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296fe:IndustrialCustomersMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296fe:IndustrialCustomersMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296fe:IndustrialCustomersMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296fe:IndustrialCustomersMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296fe:OtherCustomersMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296fe:OtherCustomersMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296fe:OtherCustomersMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296fe:OtherCustomersMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296fe:RegulatedDistributionMember2022-04-012022-06-300001031296fe:RegulatedDistributionMember2021-04-012021-06-300001031296fe:RegulatedDistributionMember2021-01-012021-06-300001031296fe:AtsiMemberfe:RegulatedTransmissionMember2022-04-012022-06-300001031296fe:AtsiMemberfe:RegulatedTransmissionMember2021-04-012021-06-300001031296fe:AtsiMemberfe:RegulatedTransmissionMember2022-01-012022-06-300001031296fe:AtsiMemberfe:RegulatedTransmissionMember2021-01-012021-06-300001031296fe:TrailMemberfe:RegulatedTransmissionMember2022-04-012022-06-300001031296fe:TrailMemberfe:RegulatedTransmissionMember2021-04-012021-06-300001031296fe:TrailMemberfe:RegulatedTransmissionMember2022-01-012022-06-300001031296fe:TrailMemberfe:RegulatedTransmissionMember2021-01-012021-06-300001031296fe:RegulatedTransmissionMemberfe:MidAtlanticInterstateTransmissionLLCMember2022-04-012022-06-300001031296fe:RegulatedTransmissionMemberfe:MidAtlanticInterstateTransmissionLLCMember2021-04-012021-06-300001031296fe:RegulatedTransmissionMemberfe:MidAtlanticInterstateTransmissionLLCMember2022-01-012022-06-300001031296fe:RegulatedTransmissionMemberfe:MidAtlanticInterstateTransmissionLLCMember2021-01-012021-06-300001031296fe:RegulatedTransmissionMemberfe:JcpAndLMember2022-04-012022-06-300001031296fe:RegulatedTransmissionMemberfe:JcpAndLMember2021-04-012021-06-300001031296fe:RegulatedTransmissionMemberfe:JcpAndLMember2022-01-012022-06-300001031296fe:RegulatedTransmissionMemberfe:JcpAndLMember2021-01-012021-06-300001031296fe:MonongahelaPowerCompanyPotomacEdisonCompanyAndWestPennPowerCompanyMemberfe:RegulatedTransmissionMember2022-04-012022-06-300001031296fe:MonongahelaPowerCompanyPotomacEdisonCompanyAndWestPennPowerCompanyMemberfe:RegulatedTransmissionMember2021-04-012021-06-300001031296fe:MonongahelaPowerCompanyPotomacEdisonCompanyAndWestPennPowerCompanyMemberfe:RegulatedTransmissionMember2022-01-012022-06-300001031296fe:MonongahelaPowerCompanyPotomacEdisonCompanyAndWestPennPowerCompanyMemberfe:RegulatedTransmissionMember2021-01-012021-06-300001031296fe:RegulatedTransmissionMember2022-04-012022-06-300001031296fe:RegulatedTransmissionMember2021-04-012021-06-300001031296fe:RegulatedTransmissionMember2022-01-012022-06-300001031296fe:RegulatedTransmissionMember2021-01-012021-06-300001031296us-gaap:EmployeeStockOptionMember2022-04-012022-06-300001031296us-gaap:EmployeeStockOptionMember2021-04-012021-06-300001031296us-gaap:EmployeeStockOptionMember2021-01-012021-06-300001031296us-gaap:EmployeeStockOptionMember2022-01-012022-06-300001031296us-gaap:PensionPlansDefinedBenefitMember2022-04-012022-06-300001031296us-gaap:PensionPlansDefinedBenefitMember2021-04-012021-06-300001031296us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-04-012022-06-300001031296us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-04-012021-06-300001031296us-gaap:PensionPlansDefinedBenefitMember2022-01-012022-06-300001031296us-gaap:PensionPlansDefinedBenefitMember2021-01-012021-06-300001031296us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-06-300001031296us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-06-300001031296us-gaap:PensionPlansDefinedBenefitMember2021-03-112021-03-110001031296us-gaap:FairValueMeasurementsRecurringMemberfe:FtrsMemberus-gaap:FairValueInputsLevel1Memberfe:DerivativeAssetsMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberfe:FtrsMemberus-gaap:FairValueInputsLevel2Memberfe:DerivativeAssetsMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberfe:FtrsMemberus-gaap:FairValueInputsLevel3Memberfe:DerivativeAssetsMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberfe:FtrsMemberfe:DerivativeAssetsMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberfe:FtrsMemberus-gaap:FairValueInputsLevel1Memberfe:DerivativeAssetsMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberfe:FtrsMemberus-gaap:FairValueInputsLevel2Memberfe:DerivativeAssetsMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberfe:FtrsMemberus-gaap:FairValueInputsLevel3Memberfe:DerivativeAssetsMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberfe:FtrsMemberfe:DerivativeAssetsMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberfe:CashCashEquivalentsAndRestrictedCashMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberfe:CashCashEquivalentsAndRestrictedCashMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberfe:CashCashEquivalentsAndRestrictedCashMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberfe:CashCashEquivalentsAndRestrictedCashMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberfe:CashCashEquivalentsAndRestrictedCashMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberfe:CashCashEquivalentsAndRestrictedCashMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberfe:CashCashEquivalentsAndRestrictedCashMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberfe:CashCashEquivalentsAndRestrictedCashMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberfe:OtherSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberfe:OtherSecuritiesMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberfe:OtherSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberfe:OtherSecuritiesMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberfe:OtherSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberfe:OtherSecuritiesMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberfe:OtherSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberfe:OtherSecuritiesMember2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMember2022-06-300001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-12-310001031296us-gaap:FairValueMeasurementsRecurringMember2021-12-310001031296fe:FtrsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberfe:DerivativeLiabilitiesMember2022-06-300001031296fe:FtrsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberfe:DerivativeLiabilitiesMember2022-06-300001031296fe:FtrsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberfe:DerivativeLiabilitiesMember2022-06-300001031296fe:FtrsMemberus-gaap:FairValueMeasurementsRecurringMemberfe:DerivativeLiabilitiesMember2022-06-300001031296fe:FtrsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberfe:DerivativeLiabilitiesMember2021-12-310001031296fe:FtrsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberfe:DerivativeLiabilitiesMember2021-12-310001031296fe:FtrsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberfe:DerivativeLiabilitiesMember2021-12-310001031296fe:FtrsMemberus-gaap:FairValueMeasurementsRecurringMemberfe:DerivativeLiabilitiesMember2021-12-310001031296fe:ModelMemberus-gaap:FairValueInputsLevel3Memberfe:FtrsMember2022-06-300001031296srt:MinimumMemberfe:ModelMemberus-gaap:FairValueInputsLevel3Memberfe:FtrsMember2022-01-012022-06-30iso4217:USDutr:MWh0001031296fe:ModelMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberfe:FtrsMember2022-01-012022-06-300001031296srt:WeightedAverageMemberfe:ModelMemberus-gaap:FairValueInputsLevel3Memberfe:FtrsMember2022-01-012022-06-300001031296us-gaap:DebtSecuritiesMember2022-06-300001031296us-gaap:DebtSecuritiesMember2021-12-310001031296fe:CorporateOwnedLifeInsuranceMember2022-04-012022-06-300001031296fe:CorporateOwnedLifeInsuranceMember2021-04-012021-06-300001031296fe:CorporateOwnedLifeInsuranceMember2022-01-012022-06-300001031296fe:CorporateOwnedLifeInsuranceMember2021-01-012021-06-300001031296fe:FevMemberfe:GlobalHoldingMember2022-06-300001031296fe:FevMemberfe:GlobalHoldingMember2021-12-310001031296us-gaap:CorporateAndOtherMemberus-gaap:OtherNonoperatingIncomeExpenseMemberfe:FevMemberfe:GlobalHoldingMember2022-04-012022-06-300001031296us-gaap:CorporateAndOtherMemberus-gaap:OtherNonoperatingIncomeExpenseMemberfe:FevMemberfe:GlobalHoldingMember2021-04-012021-06-300001031296us-gaap:CorporateAndOtherMemberus-gaap:OtherNonoperatingIncomeExpenseMemberfe:FevMemberfe:GlobalHoldingMember2022-01-012022-06-300001031296us-gaap:CorporateAndOtherMemberus-gaap:OtherNonoperatingIncomeExpenseMemberfe:FevMemberfe:GlobalHoldingMember2021-01-012021-06-300001031296fe:FevMemberfe:GlobalHoldingMember2022-04-012022-06-300001031296us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-06-300001031296us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001031296us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-06-300001031296us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-3100010312962022-06-152022-06-150001031296fe:A425SeriesBSeniorNotesDue2023Memberus-gaap:SeniorNotesMember2021-12-310001031296fe:TheToledoEdisonCompanyMemberfe:A265150MillionNotesMaturing2028Memberus-gaap:SeniorNotesMember2022-01-272022-01-270001031296fe:TheToledoEdisonCompanyMemberfe:A265150MillionNotesMaturing2028Memberus-gaap:SeniorNotesMember2022-01-270001031296fe:TheClevelandElectricIlluminatingCompanyMemberfe:A277SeriesASeniorNotesDue2034Memberus-gaap:SeniorNotesMember2022-01-270001031296fe:FirstMortgageBondMemberfe:WestPennPowerCompanyMemberfe:A334FirstMortgageBondDueApril2022Member2022-04-150001031296fe:PennsylvaniaPowerCompanyMemberfe:FirstMortgageBondMemberfe:A379150MillionFirstMortgageBondDueDecember2032Member2022-04-220001031296fe:A285500MillionNotesMemberus-gaap:SeniorNotesMember2022-05-230001031296fe:SeriesC7375SeniorNotesDue2031Memberus-gaap:SeniorNotesMember2022-05-250001031296us-gaap:SeniorNotesMemberfe:SeriesC485SeniorNotesDue2047Member2022-05-250001031296fe:SeriesC7375SeniorNotesDue2031Memberus-gaap:SeniorNotesMember2022-06-152022-06-150001031296us-gaap:SeniorNotesMemberfe:SeriesC485SeniorNotesDue2047Member2022-06-152022-06-150001031296us-gaap:SeniorNotesMember2022-06-152022-06-150001031296us-gaap:SeniorNotesMember2022-06-1500010312962022-06-150001031296fe:PennsylvaniaPowerCompanyMemberfe:A65FirstMortgageBonds100MillionDueJune2022Memberfe:FirstMortgageBondMember2022-06-300001031296stpr:MDfe:PeMember2022-01-012022-06-300001031296stpr:MDfe:PeMember2022-04-012022-06-300001031296fe:NewJerseyBoardofPublicUtilitiesMemberstpr:NJfe:JcpAndLMemberfe:EnergyEfficiencyAndPeakDemandReductionStipulationSettlementMemberfe:RegulatedDistributionMember2021-04-232021-04-230001031296fe:NewJerseyBoardofPublicUtilitiesMemberstpr:NJfe:EnergyEfficiencyAndPeakDemandReductionMemberfe:JcpAndLMemberfe:RegulatedDistributionMember2021-04-232021-04-230001031296fe:NewJerseyBoardofPublicUtilitiesMemberstpr:NJfe:JcpAndLMember2021-11-012021-11-010001031296fe:NewJerseyBoardofPublicUtilitiesMemberstpr:NJfe:JcpAndLMember2020-10-282020-10-280001031296fe:NewJerseyBoardofPublicUtilitiesMemberfe:AdvancedMeteringInfrastructureMemberstpr:NJfe:JcpAndLMemberfe:RegulatedDistributionMember2021-09-142021-09-14fe:meter0001031296fe:AdvancedMeteringInfrastructureSupplementalFilingMemberstpr:NJfe:JcpAndLMemberfe:RegulatedDistributionMember2021-09-142021-09-140001031296fe:NewJerseyBoardofPublicUtilitiesMemberstpr:NJfe:JcpAndLMemberfe:ElectricalVehicleProgramMemberfe:RegulatedDistributionMember2021-03-012021-03-01fe:program0001031296fe:NewJerseyBoardofPublicUtilitiesMemberstpr:NJfe:JcpAndLMemberfe:ElectricalVehicleProgramMemberfe:RegulatedDistributionMember2022-05-022022-05-020001031296fe:PublicUtilitiesCommissionOfOhioMemberfe:DeliveryCapitalRecoveryRiderMemberstpr:OH2016-06-010001031296fe:PublicUtilitiesCommissionOfOhioMemberstpr:OH2016-06-012016-06-010001031296fe:PublicUtilitiesCommissionOfOhioMemberfe:EnergyConservationEconomicDevelopmentandJobRetentionMemberstpr:OH2016-06-012016-06-010001031296fe:PublicUtilitiesCommissionOfOhioMemberfe:CEIOEandTEMemberstpr:OHfe:RiderDeliveryCapitalRecoveryAuditReportMember2021-08-060001031296fe:PublicUtilitiesCommissionOfOhioMemberfe:CEIOEandTEMemberstpr:OHfe:RiderDeliveryCapitalRecoveryAuditReportMember2021-09-13fe:requirement0001031296fe:PublicUtilitiesCommissionOfOhioMemberfe:CEIOEandTEMemberfe:SEET20172019CasesMemberstpr:OH2021-11-012021-11-010001031296fe:PublicUtilitiesCommissionOfOhioMemberfe:OhioStipulationMemberstpr:OH2021-11-012021-11-010001031296fe:PublicUtilitiesCommissionOfOhioMemberfe:OhioStipulationMemberstpr:OH2021-11-010001031296fe:PublicUtilitiesCommissionOfOhioMemberfe:CEIOEandTEMemberus-gaap:SubsequentEventMemberstpr:OHfe:PhaseTwoOfGridModernizationPlanMember2022-07-152022-07-15fe:circuit0001031296stpr:PAfe:ThreeMonthPeriodMemberfe:DefaultServicePlanJune2019May2023Member2022-01-012022-06-300001031296stpr:PAfe:TwelveMonthPeriodMemberfe:DefaultServicePlanJune2019May2023Member2022-01-012022-06-300001031296fe:TwentyFourMonthPeriodMemberstpr:PAfe:DefaultServicePlanJune2019May2023Member2022-01-012022-06-300001031296stpr:PAfe:DefaultServicePlanJune2019May2023Member2022-01-012022-06-30fe:proposal0001031296fe:PennsylvaniaPublicUtilityCommissionMemberstpr:PA2021-11-182021-11-180001031296fe:PennsylvaniaPublicUtilityCommissionMemberstpr:PAfe:RegulatedDistributionMember2022-04-012022-06-300001031296fe:MetropolitanEdisonCompanyMemberfe:PennsylvaniaPublicUtilityCommissionMemberstpr:PAfe:EnergyEfficiencyAndConservationPhaseIVMember2020-06-180001031296fe:PennsylvaniaPublicUtilityCommissionMemberstpr:PAfe:PennsylvaniaElectricCompanyMemberfe:EnergyEfficiencyAndConservationPhaseIVMember2020-06-180001031296fe:PennsylvaniaPowerCompanyMemberfe:PennsylvaniaPublicUtilityCommissionMemberstpr:PAfe:EnergyEfficiencyAndConservationPhaseIVMember2020-06-180001031296fe:PennsylvaniaPublicUtilityCommissionMemberstpr:PAfe:WestPennPowerCompanyMemberfe:EnergyEfficiencyAndConservationPhaseIVMember2020-06-180001031296fe:PennsylvaniaCompaniesMemberfe:PennsylvaniaPublicUtilityCommissionMemberfe:NewLongTermInfrastructureImprovementPlansMemberstpr:PA2020-01-162020-01-160001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:PublicServiceCommissionofWestVirginiaMemberfe:ExpandedNetEnergyCostMember2020-12-302020-12-300001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:PublicServiceCommissionofWestVirginiaMemberfe:ExpandedNetEnergyCostMember2021-08-272021-08-270001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberfe:IntegratedResourcePlanMemberstpr:WVfe:PublicServiceCommissionofWestVirginiaMember2021-12-292021-12-290001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:PublicServiceCommissionofWestVirginiaMemberfe:ExpandedNetEnergyCostMember2021-12-292021-12-290001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:PublicServiceCommissionofWestVirginiaMember2022-05-172022-05-170001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:PublicServiceCommissionofWestVirginiaMemberfe:VegetationManagementSurchargeRatesMember2021-12-272021-12-270001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:SolarGenerationProjectMemberfe:PublicServiceCommissionofWestVirginiaMember2021-11-222021-11-220001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:SolarGenerationProjectMemberfe:PublicServiceCommissionofWestVirginiaMember2022-03-162022-03-170001031296fe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:SolarGenerationProjectMemberfe:PublicServiceCommissionofWestVirginiaMember2022-05-012022-05-010001031296fe:FtMartinAndHarrisonPowerStationsMemberfe:MonogahelaPowerCompanyandThePotomacEdisonCompanyMemberstpr:WVfe:PublicServiceCommissionofWestVirginiaMember2021-12-172021-12-170001031296us-gaap:OtherNonoperatingIncomeExpenseMembersrt:ParentCompanyMemberfe:TransmissionRelatedVegetationManagementProgramsMemberfe:FederalEnergyRegulatoryComissionMember2021-12-310001031296fe:AtsiMemberfe:RegulatedTransmissionMemberfe:TransmissionRelatedVegetationManagementProgramsMemberfe:FederalEnergyRegulatoryComissionMember2021-12-310001031296fe:AtsiMemberfe:TransmissionRelatedVegetationManagementProgramsMemberfe:RegulatedDistributionMemberfe:FederalEnergyRegulatoryComissionMember2021-12-310001031296srt:ParentCompanyMember2022-06-300001031296fe:OtherAssurancesMember2022-06-300001031296fe:UponFurtherDowngradeMemberfe:RegulatedDistributionandRegulatedTransmissionMember2022-06-300001031296fe:UponFurtherDowngradeMembersrt:ParentCompanyMember2022-06-300001031296fe:UponFurtherDowngradeMember2022-06-300001031296fe:RegulatedDistributionandRegulatedTransmissionMemberus-gaap:SuretyBondMember2022-06-300001031296srt:ParentCompanyMemberus-gaap:SuretyBondMember2022-06-300001031296us-gaap:SuretyBondMember2022-06-300001031296fe:RegulatedDistributionandRegulatedTransmissionMember2022-06-300001031296srt:ParentCompanyMember2022-06-300001031296fe:RegulationOfWasteDisposalMember2022-06-300001031296fe:USAttorneysOfficeMemberfe:UnitedStatesVHouseholderEtAlMember2021-07-212021-07-210001031296fe:UnitedStatesVHouseholderEtAlMemberfe:UnitedStatesTreasuryMember2021-07-212021-07-210001031296fe:UnitedStatesVHouseholderEtAlMemberfe:OhioDevelopmentServiceMember2021-07-212021-07-210001031296fe:SmithVFirstEnergyCorpEtAlBuldasVFirstEnergyCorpEtAlAndHudockAndCameoCountertopsIncVFirstEnergyCorpEtAlMember2021-12-310001031296fe:EmmonsVFirstEnergyCorpEtAlMember2021-12-310001031296fe:UnitedStatesVHouseholderEtAlMember2022-03-110001031296fe:ShareholderDerivativeLawsuitMember2022-02-092022-02-090001031296srt:ChiefExecutiveOfficerMemberfe:CodeOfConductViolationRecoupmentAmountMember2021-11-30utr:sqmi0001031296fe:NewJerseyBoardofPublicUtilitiesMemberfe:YardsCreekEnergyLLCHydroGenerationFacilityMemberstpr:NJfe:JcpAndLMember2020-04-062020-04-060001031296fe:YardsCreekEnergyLLCHydroGenerationFacilityMemberstpr:NJfe:JcpAndLMemberfe:RegulatedDistributionMember2021-03-052021-03-050001031296fe:OvecMemberfe:OtherBusinessOperationsMember2022-06-300001031296srt:ParentCompanyMemberfe:OtherBusinessOperationsMember2022-06-300001031296us-gaap:OperatingSegmentsMemberfe:ExternalCustomersMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:ExternalCustomersMember2022-04-012022-06-300001031296us-gaap:CorporateNonSegmentMemberfe:ExternalCustomersMember2022-04-012022-06-300001031296us-gaap:MaterialReconcilingItemsMemberfe:ExternalCustomersMember2022-04-012022-06-300001031296fe:ExternalCustomersMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:InternalCustomersMemberfe:RegulatedDistributionMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:InternalCustomersMember2022-04-012022-06-300001031296us-gaap:CorporateNonSegmentMemberfe:InternalCustomersMember2022-04-012022-06-300001031296us-gaap:MaterialReconcilingItemsMemberfe:InternalCustomersMember2022-04-012022-06-300001031296fe:InternalCustomersMember2022-04-012022-06-300001031296us-gaap:CorporateNonSegmentMember2022-04-012022-06-300001031296us-gaap:MaterialReconcilingItemsMember2022-04-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:ExternalCustomersMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:ExternalCustomersMember2021-04-012021-06-300001031296us-gaap:CorporateNonSegmentMemberfe:ExternalCustomersMember2021-04-012021-06-300001031296us-gaap:MaterialReconcilingItemsMemberfe:ExternalCustomersMember2021-04-012021-06-300001031296fe:ExternalCustomersMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:InternalCustomersMemberfe:RegulatedDistributionMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:InternalCustomersMember2021-04-012021-06-300001031296us-gaap:CorporateNonSegmentMemberfe:InternalCustomersMember2021-04-012021-06-300001031296us-gaap:MaterialReconcilingItemsMemberfe:InternalCustomersMember2021-04-012021-06-300001031296fe:InternalCustomersMember2021-04-012021-06-300001031296us-gaap:CorporateNonSegmentMember2021-04-012021-06-300001031296us-gaap:MaterialReconcilingItemsMember2021-04-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:ExternalCustomersMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:ExternalCustomersMember2022-01-012022-06-300001031296us-gaap:CorporateNonSegmentMemberfe:ExternalCustomersMember2022-01-012022-06-300001031296us-gaap:MaterialReconcilingItemsMemberfe:ExternalCustomersMember2022-01-012022-06-300001031296fe:ExternalCustomersMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:InternalCustomersMemberfe:RegulatedDistributionMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:InternalCustomersMember2022-01-012022-06-300001031296us-gaap:CorporateNonSegmentMemberfe:InternalCustomersMember2022-01-012022-06-300001031296us-gaap:MaterialReconcilingItemsMemberfe:InternalCustomersMember2022-01-012022-06-300001031296fe:InternalCustomersMember2022-01-012022-06-300001031296us-gaap:CorporateNonSegmentMember2022-01-012022-06-300001031296us-gaap:MaterialReconcilingItemsMember2022-01-012022-06-300001031296us-gaap:OperatingSegmentsMemberfe:ExternalCustomersMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:ExternalCustomersMember2021-01-012021-06-300001031296us-gaap:CorporateNonSegmentMemberfe:ExternalCustomersMember2021-01-012021-06-300001031296us-gaap:MaterialReconcilingItemsMemberfe:ExternalCustomersMember2021-01-012021-06-300001031296fe:ExternalCustomersMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:InternalCustomersMemberfe:RegulatedDistributionMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMemberfe:InternalCustomersMember2021-01-012021-06-300001031296us-gaap:CorporateNonSegmentMemberfe:InternalCustomersMember2021-01-012021-06-300001031296us-gaap:MaterialReconcilingItemsMemberfe:InternalCustomersMember2021-01-012021-06-300001031296fe:InternalCustomersMember2021-01-012021-06-300001031296us-gaap:CorporateNonSegmentMember2021-01-012021-06-300001031296us-gaap:MaterialReconcilingItemsMember2021-01-012021-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedDistributionMember2022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMember2022-06-300001031296us-gaap:CorporateNonSegmentMember2022-06-300001031296us-gaap:MaterialReconcilingItemsMember2022-06-300001031296us-gaap:OperatingSegmentsMemberfe:RegulatedDistributionMember2021-12-310001031296us-gaap:OperatingSegmentsMemberfe:RegulatedTransmissionMember2021-12-310001031296us-gaap:CorporateNonSegmentMember2021-12-310001031296us-gaap:MaterialReconcilingItemsMember2021-12-31

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q
(Mark One)
     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2022

OR

     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________________ to ___________________
fe-20220630_g1.jpg
CommissionRegistrant; State of Incorporation;I.R.S. Employer
File NumberAddress; and Telephone NumberIdentification No.
 
333-21011FIRSTENERGY CORP.34-1843785
 (AnOhioCorporation) 
   76 South Main Street 
 AkronOH44308 
 Telephone(800)736-3402 
   
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of Each Class Trading Symbol Name of Each Exchange on Which Registered
Common Stock, $0.10 par valueFENew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes
 
 No
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes
 
 No
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
Accelerated Filer
Non-accelerated Filer
Smaller Reporting Company
Emerging Growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standard provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
 No
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
 OUTSTANDING
CLASSAS OF JUNE 30, 2022
Common Stock, $0.10 par value571,395,285
FirstEnergy Website and Other Social Media Sites and Applications

FirstEnergy’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, amendments to those reports, and all other documents filed with or furnished to the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 are made available free of charge on or through the “Investors” page of FirstEnergy’s website at www.firstenergycorp.com. These documents are also available to the public from commercial document retrieval services and the website maintained by the SEC at www.sec.gov.

These SEC filings are posted on the website as soon as reasonably practicable after they are electronically filed with or furnished to the SEC. Additionally, FirstEnergy routinely posts additional important information, including press releases, investor presentations, investor factbook, and notices of upcoming events under the “Investors” section of FirstEnergy’s website and recognizes FirstEnergy’s website as a channel of distribution to reach public investors and as a means of disclosing material non-public information for complying with disclosure obligations under Regulation FD. Investors may be notified of postings to the website by signing up for email alerts and Rich Site Summary feeds on the “Investors” page of FirstEnergy’s website. FirstEnergy also uses Twitter® and Facebook® as additional channels of distribution to reach public investors and as a supplemental means of disclosing material non-public information for complying with its disclosure obligations under Regulation FD. Information contained on FirstEnergy’s website, Twitter® handle or Facebook® page, and any corresponding applications of those sites, shall not be deemed incorporated into, or to be part of, this report.



Forward-Looking Statements: This Form 10-Q includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms “anticipate,” “potential,” “expect,” "forecast," "target," "will," "intend," “believe,” "project," “estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following (see Glossary of Terms for definitions of capitalized terms):

The potential liabilities, increased costs and unanticipated developments resulting from government investigations and agreements, including those associated with compliance with or failure to comply with the DPA.
The risks and uncertainties associated with government investigations and audits regarding HB 6 and related matters, including potential adverse impacts on federal or state regulatory matters, including, but not limited to, matters relating to rates.
The risks and uncertainties associated with litigation, arbitration, mediation, and similar proceedings, particularly regarding HB 6 related matters, including risks associated with obtaining court approval of the settlement agreement in the derivative shareholder lawsuits.
Changes in national and regional economic conditions, including recession and inflationary pressure, affecting us and/or our customers and those vendors with which we do business.
Weather conditions, such as temperature variations and severe weather conditions, or other natural disasters affecting future operating results and associated regulatory actions or outcomes in response to such conditions.
Legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity, cybersecurity, and climate change.
The ability to accomplish or realize anticipated benefits from our FE Forward initiative and our other strategic and financial goals, including, but not limited to, overcoming current uncertainties and challenges associated with the ongoing government investigations, executing our transmission and distribution investment plans, greenhouse gas reduction goals, controlling costs, improving our credit metrics, growing earnings and strengthening our balance sheet.
Changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts may negatively impact our results of operations, and may also cause us to make contributions to our pension sooner or in amounts that are larger than currently anticipated.
The risks associated with cyber-attacks and other disruptions to our, or our vendors’, information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information.
Mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets.
The ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions.
The extent and duration of the COVID-19 pandemic and the related impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, supply chain disruptions, additional costs, workforce impacts and governmental and regulatory responses to the pandemic, such as the moratoriums on utility disconnections and workforce vaccination mandates imposed at varying points throughout the pandemic.
Actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity.
Changes in assumptions regarding factors such as economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities.
Changes in customers’ demand for power, including, but not limited to, economic conditions, the impact of climate change, or energy efficiency and peak demand reduction mandates.
The potential of non-compliance with debt covenants in our credit facilities.
The ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates.
Changes to environmental laws and regulations, including, but not limited to, those related to climate change.
Labor disruptions by our unionized workforce.
Changes to significant accounting policies.
Any changes in tax laws or regulations, or adverse tax audit results or rulings.
The risks and other factors discussed from time to time in our SEC filings.

Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by the FE Board at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating.

These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy’s filings with the SEC, including, but not limited to, the most recent Annual Report on Form 10-K, this Form 10-Q and



any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy’s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.





TABLE OF CONTENTS
 Page
Part I. Financial Information 
 
 
Consolidated Statements of Equity
 
i


GLOSSARY OF TERMS
The following abbreviations and acronyms are used in this report to identify FirstEnergy Corp. and its current and former subsidiaries:
AE SupplyAllegheny Energy Supply Company, LLC, an unregulated generation subsidiary
AGCAllegheny Generating Company, a generation subsidiary of MP
ATSIAmerican Transmission Systems, Incorporated, a subsidiary of FET, which owns and operates transmission facilities
CEIThe Cleveland Electric Illuminating Company, an Ohio electric utility operating subsidiary
FEFirstEnergy Corp., a public utility holding company
FELHC, Inc.FirstEnergy License Holding Company
FENOCEnergy Harbor Nuclear Corp. (formerly known as FirstEnergy Nuclear Operating Company), a subsidiary of EH, which operates NG’s nuclear generating facilities
FESEnergy Harbor LLC. (formerly known as FirstEnergy Solutions Corp.), a subsidiary of EH, which provides energy-related products and services
FES DebtorsFES, FENOC, FG, NG, FE Aircraft Leasing Corp., Norton Energy Storage LLC, and FGMUC
FESCFirstEnergy Service Company, which provides legal, financial, and other corporate support services
FETFirstEnergy Transmission, LLC, the parent company of ATSI, MAIT and TrAIL, and has a joint venture in PATH
FEVFirstEnergy Ventures Corp., which invests in certain unregulated enterprises and business ventures
FGEnergy Harbor Generation LLC (formerly known as FirstEnergy Generation, LLC), a subsidiary of EH, which owns and operates fossil generating facilities
FGMUCFirstEnergy Generation Mansfield Unit 1 Corp., a subsidiary of FG
FirstEnergyFirstEnergy Corp., together with its consolidated subsidiaries
Global HoldingGlobal Mining Holding Company, LLC, a joint venture between FEV, WMB Marketing Ventures, LLC and Pinesdale LLC
GPUGPU, Inc., former parent of JCP&L, ME and PN, that merged with FE on November 7, 2001
JCP&LJersey Central Power & Light Company, a New Jersey electric utility operating subsidiary
KATCoKeystone Appalachian Transmission Company, a former subsidiary of FET which, in May 2022, became a subsidiary of FE
MAITMid-Atlantic Interstate Transmission, LLC, a subsidiary of FET, which owns and operates transmission facilities
MEMetropolitan Edison Company, a Pennsylvania electric utility operating subsidiary
MPMonongahela Power Company, a West Virginia electric utility operating subsidiary
NGEnergy Harbor Nuclear Generation LLC (formerly known as FirstEnergy Nuclear Generation, LLC), a subsidiary of EH, which owns nuclear generating facilities
OEOhio Edison Company, an Ohio electric utility operating subsidiary
Ohio CompaniesCEI, OE and TE
PATHPotomac-Appalachian Transmission Highline, LLC, a joint venture between FE and a subsidiary of AEP
PATH-AlleghenyPATH Allegheny Transmission Company, LLC
PATH-WVPATH West Virginia Transmission Company, LLC
PEThe Potomac Edison Company, a Maryland and West Virginia electric utility operating subsidiary
PennPennsylvania Power Company, a Pennsylvania electric utility operating subsidiary of OE
Pennsylvania CompaniesME, PN, Penn and WP
PNPennsylvania Electric Company, a Pennsylvania electric utility operating subsidiary
Signal PeakSignal Peak Energy, LLC, an indirect subsidiary of Global Holding that owns mining operations near Roundup, Montana
TEThe Toledo Edison Company, an Ohio electric utility operating subsidiary
TrAILTrans-Allegheny Interstate Line Company, a subsidiary of FET, which owns and operates transmission facilities
Transmission CompaniesATSI, MAIT and TrAIL
UtilitiesOE, CEI, TE, Penn, JCP&L, ME, PN, MP, PE, and WP
WPWest Penn Power Company, a Pennsylvania electric utility operating subsidiary





ii



The following abbreviations and acronyms may be used to identify frequently used terms in this report:
2021 Credit FacilitiesCollectively, the six separate senior unsecured five-year syndicated revolving credit facilities entered into by FE, FET, the Utilities, and the Transmission Companies, on October 18, 2021DSICDistribution System Improvement Charge
2023 NotesFE’s 4.25% Notes, Series B, due 2023DSPDefault Service Plan
2031 Notes FE’s 7.375% Notes, Series C, due 2031EDCElectric Distribution Company
2047 NotesFE’s 4.85% Notes, Series C, due 2047EDCPExecutive Deferred Compensation Plan
ACEAffordable Clean EnergyEE&CEnergy Efficiency and Conservation
ADITAccumulated Deferred Income TaxesEEIEdison Electric Institute
AEPAmerican Electric Power Company, Inc.EGSElectric Generation Supplier
AEPSC
American Electric Power Service Corporation
EGUElectric Generation Units
AFSAvailable-for-saleEHEnergy Harbor Corp.
AFUDCAllowance for Funds Used During ConstructionELGEffluent Limitation Guidelines
AMIAdvance Metering InfrastructureEmPOWER MarylandEmPOWER Maryland Energy Efficiency Act
AOCIAccumulated Other Comprehensive Income (Loss)ENECExpanded Net Energy Cost
AROAsset Retirement ObligationEPAUnited States Environmental Protection Agency
ARPAlternative Revenue ProgramEPSEarnings per Share
ASCAccounting Standard CodificationEROElectric Reliability Organization
ASUAccounting Standards UpdateESGEnvironmental, Social, Corporate Governance
BGSBasic Generation ServiceESP IVElectric Security Plan IV
BrookfieldNorth American Transmission Company II LLC, a controlled investment vehicle entity of Brookfield Infrastructure PartnersExchange Act
Securities and Exchange Act of 1934, as amended
Brookfield GuarantorsBrookfield Super-Core Infrastructure Partners L.P., Brookfield Super-Core Infrastructure Partners (NUS) L.P., and Brookfield Super-Core Infrastructure Partners (ER) SCSpFacebook®Facebook is a registered trademark of Facebook, Inc.
CAAClean Air ActFASBFinancial Accounting Standards Board
CCRCoal Combustion ResidualsFCAFinancial Conduct Authority
CERCLAComprehensive Environmental Response, Compensation, and Liability Act of 1980FE BoardFE Board of Directors
CFRCode of Federal RegulationsFE Revolving FacilityFE and the Utilities’ former five-year syndicated revolving credit facility, as amended, and replaced by the 2021 Credit Facilities on October 18, 2021
CO2
Carbon DioxideFERCFederal Energy Regulatory Committee
COVID-19Coronavirus diseaseFET BoardThe Board of Directors of FET
CPPEPA's Clean Power PlanFET LLC AgreementThird Amended and Restated Limited Liability Company Operating Agreement of FET
CSAPRCross-State Air Pollution RuleFET P&SA
Purchase and Sale Agreement entered into on November 6, 2021, by and between FE, FET, Brookfield and Brookfield Guarantors
CSRConservation Support RiderFET Revolving FacilityFET and certain of its subsidiaries’ former five-year syndicated revolving credit facility, as amended, and replaced by the 2021 Credit Facilities on October 18, 2021
CTAConsolidated Tax AdjustmentFitchFitch Ratings Service
CWAClean Water ActFMBFirst Mortgage Bond
DCRDelivery Capital RecoveryFPAFederal Power Act
D.C. CircuitUnited States Court of Appeals for the District of Columbia CircuitFTRFinancial Transmission Right
DMRDistribution Modernization RiderGAAPAccounting Principles Generally Accepted in the United States of America
DPADeferred Prosecution Agreement entered into on July 21, 2021 between FE and S.D. OhioGHGGreenhouse Gases
iii


HB 6House Bill 6, as passed by Ohio's 133rd General AssemblyPPAPurchase Power Agreement
IBAICE Benchmark Administration LimitedPPUCPennsylvania Public Utility Commission
IRSInternal Revenue ServicePUCOPublic Utilities Commission of Ohio
LEDLight Emitting DiodeRCRAResource Conservation and Recovery Act
LIBORLondon Inter-Bank Offered RateRecoupment PolicyFirstEnergy Executive Compensation Recoupment Policy
LOCLetter of CreditRegulation FDRegulation Fair Disclosure promulgated by the SEC
LTIIPsLong-Term Infrastructure Improvement PlansRFC
ReliabilityFirst Corporation
MDPSCMaryland Public Service CommissionRFPRequest for Proposal
MGPManufactured Gas PlantsRGGIRegional Greenhouse Gas Initiative
MISOMidcontinent Independent System Operator, Inc.ROEReturn on Equity
Moody’sMoody’s Investors Service, Inc.RTORegional Transmission Organization
MWMegawattSBCSocietal Benefits Charge
MWHMegawatt-hourS.D. OhioSouthern District of Ohio
NAAQSNational Ambient Air Quality StandardsSECUnited States Securities and Exchange Commission
NCINoncontrolling InterestSEETSignificantly Excessive Earnings Test
N.D. OhioNorthern District of Ohio
SF6
Sulfur hexafluoride
NERCNorth American Electric Reliability CorporationSIPState Implementation Plan(s) Under the Clean Air Act
NJBPUNew Jersey Board of Public UtilitiesSLCSpecial Litigation Committee of the FE Board
NJ Rate CounselNew Jersey Division of Rate CounselSO2Sulfur Dioxide
NOxNitrogen OxideSOFRSecured Overnight Financing Rate
NUGNon-Utility GenerationSOSStandard Offer Service
NYPSCNew York State Public Service CommissionSRECSolar Renewable Energy Credit
OAGOhio Attorney GeneralSSOStandard Service Offer
OCAOffice of Consumer AdvocateS&PStandard & Poor’s Ratings Service
OCCOhio Consumers' CounselTax ActTax Cuts and Jobs Act adopted December 22, 2017
ODSAOhio Development Service AgencyTMI-1Three Mile Island Unit 1
Ohio StipulationStipulation and Recommendation, dated November 1, 2021, entered into by and among the Ohio Companies, the OCC, PUCO Staff, and
several other signatories
TOTransmission Owner
OPEBOther Post-Employment BenefitsTwitter®Twitter is a registered trademark of Twitter, Inc.
OPICOther Paid-in CapitalVARVolt-Amps Reactive, the measuring unit for reactive power
OVECOhio Valley Electric CorporationVIEVariable Interest Entity
PJMPJM Interconnection, LLCVSCCVirginia State Corporation Commission
PJM TariffPJM Open Access Transmission TariffWVPSCPublic Service Commission of West Virginia
POLRProvider of Last Resort
iv


PART I. FINANCIAL INFORMATION

ITEM I.         Financial Statements

FIRSTENERGY CORP.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

For the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions, except per share amounts)2022202120222021
REVENUES:
Distribution services and retail generation $2,170 $2,096 $4,567 $4,332 
Transmission440 411 891 812 
Other208 115 349 204 
Total revenues(1)
2,818 2,622 5,807 5,348 
OPERATING EXPENSES:
Fuel190 112 330 230 
Purchased power802 614 1,677 1,332 
Other operating expenses896 718 1,716 1,470 
Provision for depreciation348 323 688 646 
Amortization (deferral) of regulatory assets, net(129)49 (166)141 
General taxes264 264 556 537 
DPA penalty (Note 8) 230  230 
Gain on sale of Yards Creek (Note 9)   (109)
Total operating expenses2,371 2,310 4,801 4,477 
OPERATING INCOME447 312 1,006 871 
OTHER INCOME (EXPENSE):
Debt redemption costs (Note 6)(118) (156) 
Miscellaneous income, net160 108 266 243 
Interest expense(265)(287)(540)(572)
Capitalized financing costs17 21 36 34 
Total other expense(206)(158)(394)(295)
INCOME BEFORE INCOME TAXES241 154 612 576 
INCOME TAXES49 96 132 183 
NET INCOME $192 $58 $480 $393 
Income attributable to noncontrolling interest5  5  
EARNINGS ATTRIBUTABLE TO FIRSTENERGY CORP.$187 $58 $475 $393 
EARNINGS PER SHARE ATTRIBUTABLE TO FIRSTENERGY CORP.
(Note 3):
Basic$0.33 $0.11 $0.83 $0.72 
Diluted$0.33 $0.11 $0.83 $0.72 
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic571 544 571 544 
Diluted572 545 572 545 
(1) Includes excise and gross receipts tax collections of $91 million and $85 million during the three months ended June 30, 2022 and 2021, respectively, and $194 million and $180 million during the six months ended June 30, 2022 and 2021, respectively.


The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.

1


FIRSTENERGY CORP.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)

For the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions)2022202120222021
NET INCOME$192 $58 $480 $393 
OTHER COMPREHENSIVE INCOME (LOSS):  
Pension and OPEB prior service costs(2)(4)(4)(7)
Amortized losses on derivative hedges8 1 8 1 
Other comprehensive income (loss)6 (3)4 (6)
Income taxes (benefits) on other comprehensive income (loss)2 (1)1 (2)
Other comprehensive income (loss), net of tax4 (2)3 (4)
COMPREHENSIVE INCOME$196 $56 $483 $389 
Comprehensive income attributable to noncontrolling interest5  5  
COMPREHENSIVE INCOME ATTRIBUTABLE TO FIRSTENERGY CORP.$191 $56 $478 $389 

The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.


2


FIRSTENERGY CORP.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In millions, except share amounts)June 30,
2022
December 31,
2021
ASSETS  
CURRENT ASSETS:  
Cash and cash equivalents$478 $1,462 
Restricted cash54 49 
Receivables- 
Customers1,274 1,192 
Less — Allowance for uncollectible customer receivables134 159 
1,140 1,033 
Other, net of allowance for uncollectible accounts of $11 in 2022 and $10 in 2021
248 246 
Materials and supplies, at average cost304 260 
Prepaid taxes and other315 187 
 2,539 3,237 
PROPERTY, PLANT AND EQUIPMENT:  
In service46,818 46,002 
Less — Accumulated provision for depreciation13,035 12,672 
 33,783 33,330 
Construction work in progress1,584 1,414 
 35,367 34,744 
INVESTMENTS AND OTHER NONCURRENT ASSETS:  
Goodwill5,618 5,618 
Investments (Note 6)626 655 
Regulatory assets99 71 
Other871 1,107 
 7,214 7,451 
$45,120 $45,432 
LIABILITIES AND CAPITALIZATION  
CURRENT LIABILITIES:  
Currently payable long-term debt$353 $1,606 
Accounts payable1,182 943 
Accrued interest255 283 
Accrued taxes631 647 
Accrued compensation and benefits276 313 
Dividends payable 222 
Other673 402 
 3,370 4,416 
CAPITALIZATION:  
Common stockholders’ equity-  
Common stock, $0.10 par value, authorized 700,000,000 shares - 571,395,285 and 570,261,104 shares outstanding as of June 30, 2022 and December 31, 2021, respectively
57 57 
Other paid-in capital11,943 10,238 
Accumulated other comprehensive loss(12)(15)
Accumulated deficit(1,130)(1,605)
Total common stockholders’ equity10,858 8,675 
Noncontrolling interest456  
Total equity11,314 8,675 
Long-term debt and other long-term obligations20,763 22,248 
 32,077 30,923 
NONCURRENT LIABILITIES:  
Accumulated deferred income taxes3,623 3,437 
Retirement benefits2,556 2,669 
Regulatory liabilities1,925 2,124 
Other1,569 1,863 
 9,673 10,093 
COMMITMENTS, GUARANTEES AND CONTINGENCIES (Note 8)
$45,120 $45,432 

The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.

3


FIRSTENERGY CORP.
CONSOLIDATED STATEMENTS OF EQUITY
(Unaudited)

Six Months Ended June 30, 2022
Common StockOPICAOCIAccumulated DeficitTotal Common Stockholders’ EquityNCITotal Equity
(In millions)SharesAmount
Balance, January 1, 2022570 $57 $10,238 $(15)$(1,605)$8,675 $ $8,675 
Net income288 288 288 
Other comprehensive loss, net of tax(1)(1)(1)
Stock Investment Plan and share-based benefit plans1 20 20 20 
Cash dividends declared on common stock ($0.39 per share in March)
(223)(223)(223)
Other(4)(4)(4)
Balance, March 31, 2022571 57 10,031 (16)(1,317)8,755  8,755 
Net income187 187 5 192 
Other comprehensive income, net of tax4 4 4 
Stock Investment Plan and share-based benefit plans25 25 25 
FET minority interest sale, net of transaction costs (Note 1)1,887 1,887 451 2,338 
Balance, June 30, 2022571 $57 $11,943 $(12)$(1,130)$10,858 $456 $11,314 

Six Months Ended June 30, 2021
Common StockOPICAOCIAccumulated DeficitTotal Common Stockholders’ EquityNCITotal Equity
(In millions)SharesAmount
Balance, January 1, 2021543 $54 $10,076 $(5)$(2,888)$7,237 $ $7,237 
Net income335 335 335 
Other comprehensive loss, net of tax(2)(2)(2)
Share-based benefit plans1 2 2 2 
Cash dividends declared on common stock ($0.39 per share in March)
(212)(212)(212)
Balance, March 31, 2021544 54 9,866 (7)(2,553)7,360  7,360 
Net income58 58 58
Other comprehensive loss, net of tax(2)(2)(2)
Stock Investment Plan and share-based benefit plans14 14 14 
Balance, June 30, 2021544 $54 $9,880 $(9)$(2,495)$7,430 $ $7,430 
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.


4


FIRSTENERGY CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
For the Six Months Ended June 30,
(In millions)20222021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $480 $393 
Adjustments to reconcile net income to net cash from operating activities-
Depreciation and amortization694 831 
Deferred income taxes and investment tax credits, net123 176 
Retirement benefits, net of payments(188)(209)
Transmission revenue collections, net23 81 
Gain on sale of Yards Creek (109)
Changes in current assets and liabilities-
Receivables(109)121 
Materials and supplies(44)43 
Prepaid taxes and other current assets(121)(114)
Accounts payable239 127 
DPA penalty 230 
Accrued taxes(16)(112)
Accrued interest(28)11 
Accrued compensation and benefits(85)(98)
Other current liabilities(5)(27)
Collateral, net262 (5)
Other58 8 
Net cash provided from operating activities1,283 1,347 
CASH FLOWS FROM FINANCING ACTIVITIES:
New financing-