v3.26.1
INCOME TAXES (Tables)
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation The following table reconciles the effective income tax rate to the federal income tax statutory rate for the three months ended March 31, 2026 and 2025:
For the Three Months Ended March 31,
(In millions) 20262025
Amount %Amount%
Income before income taxes$185 $165 
Federal statutory income tax$39 21.0 %$35 21.0 %
Federal:
Nontaxable and Nondeductible:
AFUDC equity income(4)(2.2)%(3)(1.8)%
Other:
Excess deferred tax amortization— — %(1)(0.6)%
Other— — %(1)(0.6)%
State and municipal income taxes, net of federal effect (1)
8 4.3 %7 4.2 %
Total income taxes (2)
$43 23.2 %$37 22.4 %
(1) Pennsylvania makes up the majority of FET’s respective domestic state income taxes, net of federal effect.
(2) There were no amounts for the three months ended March 31, 2026, or 2025, related to tax credits, cross-border tax laws, changes in laws or rates, changes in valuation allowances, foreign tax effects, or changes in unrecognized tax benefits.