v3.26.1
INCOME TAXES (Tables)
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The following table reconciles the FirstEnergy effective income tax rate to the federal income tax statutory rate for the three and six months ended June 30, 2026, and 2025:

FirstEnergyFor the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions) 2026202520262025
Amount%Amount%Amount %Amount%
Income before income taxes$444 $406 $1,048 $946 
Federal statutory income tax$93 21.0 %$85 21.0 %$220 21.0 %$199 21.0 %
Federal:
Tax credits(6)(1.4)%(1)(0.2)%(6)(0.6)%(2)(0.2)%
Nontaxable and Nondeductible:
AFUDC equity income(6)(1.4)%(5)(1.2)%(14)(1.3)%(10)(1.0)%
AFUDC equity depreciation1 0.2 %1 0.2 %2 0.2 %2 0.2 %
Tax related to FE's equity investment in FET4 0.9 %4 1.0 %9 0.8 %8 0.8 %
Other:
Excess deferred tax amortization(13)(2.8)%(13)(3.2)%(25)(2.4)%(25)(2.6)%
Federal and state related flow-through(6)(1.4)%(5)(1.2)%(13)(1.2)%(11)(1.2)%
Other 11 2.5 %(3)(0.8)%10 0.9 %(3)(0.3)%
Changes in unrecognized tax benefits(11)(2.5)%— — %(11)(1.0)%— — %
State and municipal income taxes, net of federal effect (1)
25 5.6 %25 6.1 %58 5.5 %56 5.9 %
Total income taxes (2)
$92 20.7 %$88 21.7 %$230 21.9 %$214 22.6 %
(1) Pennsylvania makes up the majority of FirstEnergy’s domestic state income taxes, net of federal effect.
(2) There were no amounts for the three and six months ended June 30, 2026, or 2025, related to cross-border tax laws, changes in laws or rates, changes in valuation allowance, or foreign tax effects.
The following table reconciles the JCP&L effective income tax rate to the federal income tax statutory rate for the three and six months ended June 30, 2026, and 2025:

JCP&LFor the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions) 2026202520262025
Amount%Amount%Amount %Amount%
Income before income taxes$105 $82 $193 $145 
Federal statutory income tax$22 21.0 %$17 21.0 %$41 21.0 %$30 21.0 %
Federal:
Tax credits(1)(1.0)%— — %(1)(0.5)%— — %
Nontaxable and Nondeductible:
AFUDC equity income(1)(1.0)%(1)(1.3)%(3)(1.5)%(3)(2.2)%
Other:
Excess deferred tax amortization(2)(1.9)%(1)(1.3)%(3)(1.5)%(2)(1.5)%
Federal and state related flow-through— — %(1)(1.2)%(1)(0.5)%(1)(0.7)%
Other 1 1.0 %1 1.1 %1 0.6 %2 1.3 %
State income taxes, net of federal effect (1)
7 6.7 %5 6.1 %14 7.3 %10 6.9 %
Total income taxes (2)
$26 24.8 %$20 24.4 %$48 24.9 %$36 24.8 %
(1) New Jersey makes up JCP&L’s domestic state income taxes, net of federal effect.
(2) There were no amounts for the three and six months ended June 30, 2026, or 2025, related to cross-border tax laws, changes in laws or rates, changes in valuation allowances, changes in unrecognized tax benefits, or foreign tax effects.