FIRSTENERGY CORP
For the period ended Mar 31, 2026. Filed Apr 28, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 28, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| (In millions, except share amounts) | March 31, 2026 | December 31,2025 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $52 | $57 |
| Restricted cash | 28 | 42 |
| Receivables- | ||
| Customers | 1,697 | 1,783 |
| Less — Allowance for uncollectible customer receivables | 52 | 57 |
| 1,645 | 1,726 | |
| Other, net of allowance for uncollectible accounts of $13 in 2026 and $11 in 2025 | 323 | 295 |
| Materials and supplies, at average cost | 582 | 577 |
| Prepaid taxes and other | 418 | 282 |
| 3,048 | 2,979 | |
| PROPERTY, PLANT AND EQUIPMENT: | ||
| In service | 56,766 | 56,213 |
| Less — Accumulated provision for depreciation | 15,427 | 15,189 |
| 41,339 | 41,024 | |
| Construction work in progress | 3,911 | 3,389 |
| 45,250 | 44,413 | |
| INVESTMENTS AND OTHER NONCURRENT ASSETS: | ||
| Goodwill | 5,618 | 5,618 |
| Investments | 638 | 641 |
| Regulatory assets | 1,092 | 829 |
| Other | 1,271 | 1,424 |
| 8,619 | 8,512 | |
| TOTAL ASSETS(1) | $56,917 | $55,904 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Currently payable long-term debt | $424 | $723 |
| Short-term borrowings | 1,305 | 325 |
| Accounts payable | 2,027 | 2,002 |
| Accrued interest | 298 | 373 |
| Accrued taxes | 744 | 768 |
| Accrued compensation and benefits | 226 | 286 |
| Dividends payable | 269 | 257 |
| Customer deposits | 254 | 250 |
| Other | 294 | 287 |
| 5,841 | 5,271 | |
| NONCURRENT LIABILITIES: | ||
| Long-term debt and other long-term obligations | 26,331 | 25,508 |
| Accumulated deferred income taxes | 6,206 | 6,032 |
| Retirement benefits | 1,471 | 1,469 |
| Regulatory liabilities | 877 | 1,185 |
| Other | 2,085 | 2,513 |
| 36,970 | 36,707 | |
| TOTAL LIABILITIES(1) | 42,811 | 41,978 |
| EQUITY: | ||
| Common stockholders’ equity- | ||
| Common stock, $0.10 par value, authorized 700,000,000 shares - 578,431,175 and 577,851,052 shares outstanding as of March 31, 2026, and December 31, 2025, respectively. | 58 | 58 |
| Other paid-in capital | 12,439 | 12,431 |
| Accumulated other comprehensive loss | (14) | (14) |
| Retained earnings | 171 | 35 |
| Total common stockholders’ equity | 12,654 | 12,510 |
| Noncontrolling interest | 1,452 | 1,416 |
| TOTAL EQUITY | 14,106 | 13,926 |
| COMMITMENTS, GUARANTEES AND CONTINGENCIES (NOTE 9.) | ||
| TOTAL LIABILITIES AND EQUITY | $56,917 | $55,904 |
(1)As of March 31, 2026 and December 31, 2025, the combined assets of the VIEs were $13,558 million and $13,270 million, respectively, that can only be used to settle obligations of the VIEs. As of March 31, 2026 and December 31, 2025, respectively, these assets include: Cash and cash equivalents of $6 million and $8 million, Restricted cash of $27 million and $40 million, Accounts receivable of $90 million and $92 million, Materials and supplies, at average cost of $1 million as of March 31, 2026 and December 31, 2025, Prepaid taxes and other current assets of $20 million and $41 million, Property, plant, and equipment of $12,769 million and $12,475 million, Goodwill of $224 million as of March 31,
2026 and December 31, 2025, Investments of $19 million as of March 31, 2026 and December 31, 2025, Regulatory assets of $145 million and $22 million, and Other noncurrent assets of $257 million and $348 million. The consolidated liabilities as of March 31, 2026 and December 31, 2025, include $9,966 million and $9,933 million, respectively, of liabilities of VIEs whose creditors have no recourse to FE. As of March 31, 2026 and December 31, 2025, respectively, these liabilities include: Currently payable long-term debt of $127 million and $126 million, Short-term borrowings of $320 million and $245 million, Accrued interest of $84 million and $108 million, Accrued taxes of $331 million and $335 million, Other current liabilities of $7 million and $9 million, Long-term debt and other long-term obligations of $6,868 million and $6,893 million, Accumulated deferred income taxes of $1,591 million and $1,540 million, Regulatory liabilities of $468 million and $346 million, and Other noncurrent liabilities of $170 million and $331 million.
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