v3.25.1
COMMITMENTS, GUARANTEES AND CONTINGENCIES (Tables)
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Potential Collateral Obligations The maximum potential amount of future payments FE and its subsidiaries could be required to make under these guarantees as of March 31, 2025, was approximately $1.1 billion, as summarized below:
 Guarantees and Other AssurancesMaximum Exposure
 (In millions)
FE’s Guarantees on Behalf of its Consolidated Subsidiaries
Deferred compensation arrangements$403 
Vehicle leases75 
McElroy Run transfer144 
Other29 
651 
FE’s Guarantees on Other Assurances
Surety Bonds167 
Deferred compensation arrangements96 
LOCs177 
440 
Total Guarantees and Other Assurances$1,091 
Guarantees and Other AssurancesMaximum Exposure
 (In millions)
Surety Bonds$20 
LOCs28 
Total Guarantees and Other Assurances$48 
.
These credit-risk-related contingent features stipulate that if the subsidiary were to be downgraded or lose its investment grade credit rating (based on its senior unsecured debt rating), it would be required to provide additional collateral. The following table discloses the potential additional credit rating contingent contractual collateral obligations as of March 31, 2025:

Potential Collateral Obligations
Electric Companies and Transmission Companies
FE Total
 (In millions)
Contractual obligations for additional collateral
Upon downgrade $71 $1 $72 
Surety bonds (collateralized amount)(1)
102 193 295 
Total Exposure from Contractual Obligations$173 $194 $367 
(1) Surety Bonds are not tied to a credit rating. Surety Bonds’ impact assumes maximum contractual obligations, which is ordinarily 100% of the face amount of the surety bond except with respect to $38 million of surety bond obligations for which the collateral obligation is capped at 60% of the face amount, and typical obligations require 30 days to cure.
These credit-risk-related contingent features stipulate that if JCP&L were to be downgraded or lose its investment grade credit rating (based on its senior unsecured debt rating), it would be required to provide additional collateral. The following table discloses the potential additional credit rating contingent contractual collateral obligations as of March 31, 2025:

Potential Collateral ObligationsJCP&L
(In millions)
Contractual obligations for additional collateral
Upon downgrade $38 
Surety bonds (collateralized amount)(1)
20 
Total Exposure from Contractual Obligations$58 
(1) Surety bonds are not tied to a credit rating, and their impact assumes maximum contractual obligations, which is ordinarily 100% of the face amount of the surety bond except with respect to $1 million as of March 31, 2025 of surety bond obligations for which the collateral obligation is capped at 60% of the face amount, and typical obligations require 30 days to cure.