FirstEnergy Corp. (FE) financial statements (2022 and earlier)

Company profile

Business Address 76 SOUTH MAIN ST
AKRON, OH 44308-1890
State of Incorp. OH
Fiscal Year End December 31
SIC 4911 - Electric Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,4621,734627367589199
Cash and cash equivalents1,4621,734627367589199
Restricted cash and investments49675262146176
Receivables1,0331,2031,0911,2211,4631,440
Inventory, net of allowances, customer advances and progress billings260317281252463564
Inventory260317281252463564
Prepaid expense     98
Derivative instruments and hedges, assets    37140
Disposal group, including discontinued operation  3325  
Other current assets     158
Other undisclosed current assets433393360465410175
Total current assets:3,2373,7142,4442,3923,1082,950
Noncurrent Assets
Property, plant and equipment34,74433,294    
Long-term investments and receivables655605    
Long-term investments655605    
Intangible assets, net (including goodwill)5,6185,6185,6185,6185,6185,738
Goodwill5,6185,6185,6185,6185,6185,618
Intangible assets, net (excluding goodwill)     120
Regulated entity, other noncurrent assets71829991401,014
Other noncurrent assets1,1071,1061,0397521,0531,153
Other undisclosed noncurrent assets 45   (120)
Total noncurrent assets:42,19540,7506,7566,4616,7117,785
Other undisclosed assets  33,10131,21032,43832,413
TOTAL ASSETS:45,43244,46442,30140,06342,25743,148
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,1862,0981,9701,8161,9341,986
Accounts payable9438279189651,0271,043
Employee-related liabilities313349258318336363
Taxes payable647640545533571580
Interest and dividends payable283282249   
Debt1,6062,3461,3801,7531,3824,360
Derivative instruments and hedges, liabilities     78
Securities loaned   393942
Other liabilities4025601,4251,026722660
Other undisclosed current liabilities222 87   
Total current liabilities:4,4165,0044,8624,6344,0777,126
Noncurrent Liabilities
Long-term debt and lease obligation2331286556775
Finance lease, liability233145✕✕✕
Capital lease obligations✕✕✕556775
Operating lease, liability  241✕✕✕
Liabilities, other than long-term debt6,6566,9677,94810,77512,28710,670
Asset retirement obligations 1591658122,5151,482
Deferred tax liabilities, net✕✕✕2,5021,3593,765
Liability, pension and other postretirement and postemployment benefits2,6693,3453,0652,9063,9753,719
Regulatory liability2,1241,8262,3602,4982,720 
Disposal group, including discontinued operation, liabilities  691   
Other liabilities1,8631,6371,6672,0571,7181,704
Other undisclosed noncurrent liabilities3,4143,0942,61234786844
Total noncurrent liabilities:10,09310,09210,84610,86413,14011,589
Other undisclosed liabilities22,24822,13119,61817,75121,11518,192
Total liabilities:36,75737,22735,32633,24938,33236,907
Stockholders' equity
Stockholders' equity attributable to parent, including:8,6757,2376,9756,8143,8816,241
Additional paid in capital10,23810,07610,86811,53010,00110,555
Accumulated other comprehensive income (loss)(15)(5)2041142174
Accumulated deficit(1,605)(2,888)(3,967)(4,879)(6,262)(4,532)
Other undisclosed stockholders' equity attributable to parent575454122 44
Other undisclosed stockholders' equity    44 
Total stockholders' equity:8,6757,2376,9756,8143,9256,241
TOTAL LIABILITIES AND EQUITY:45,43244,46442,30140,06342,25743,148

Income statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues11,13210,79011,03511,26114,01714,562
Revenue, net✕✕✕✕14,01714,562
Cost of revenue(5,478)(4,881)(4,590)(4,609)(5,533)(6,513)
Cost of goods and services sold(481)(369)(497)(538)(4,577)(5,479)
Gross profit:5,6545,9096,4456,6528,4848,049
Operating expenses(3,928)(3,747)(3,935)(4,150)(8,312)(16,311)
Operating income (loss):1,7262,1622,5102,502172(8,262)
Nonoperating expense(167)(1,033)(1,393)(990)(1,001)(970)
Investment income, nonoperating5174322432059884
Interest and debt expense(1,141)(1,065)(1,033)(1,116)(1,178)(1,157)
Income (loss) from continuing operations before equity method investments, income taxes:4186484396(2,007)(10,389)
Other undisclosed income from continuing operations before income taxes1,1411,0651,0331,1161,1781,157
Income (loss) from continuing operations before income taxes:1,5591,1291,1171,512(829)(9,232)
Income tax expense (benefit)(320)(126)(213)(490)(895)3,055
Income (loss) from continuing operations:1,2391,0039041,022(1,724)(6,177)
Income (loss) from discontinued operations48595(1,251)  
Net income (loss):1,2871,062909(229)(1,724)(6,177)
Net loss attributable to noncontrolling interest   (367)  
Other undisclosed net income (loss) attributable to parent(4)1731,944  
Net income (loss) attributable to parent:1,2831,0799121,348(1,724)(6,177)
Undistributed earnings (loss) allocated to participating securities, basic  (4)  ✕
Other undisclosed net loss available to common stockholders, basic   (367)  
Net income (loss) available to common stockholders, basic:1,2831,079908981(1,724)(6,177)
Dilutive securities, effect on basic earnings per share  4   
Net income (loss) available to common stockholders, diluted:1,2831,079912981(1,724)(6,177)

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):1,2871,062909(229)(1,724)(6,177)
Other comprehensive income (loss)(10)(25)(21)(101)(32)3
Comprehensive income (loss):1,2771,037888(330)(1,756)(6,174)
Comprehensive loss, net of tax, attributable to noncontrolling interest   (367)  
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(4)1731,944  
Comprehensive income (loss), net of tax, attributable to parent:1,2731,0548911,247(1,756)(6,174)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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