v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 63 $ 57
Restricted cash 128 42
Receivables -    
Customers 1,715 1,783
Less — Allowance for uncollectible customer receivables 48 57
Receivables 1,667 1,726
Other, net of allowance for uncollectible accounts of $11 in 2026 and 2025 343 295
Materials and supplies, at average cost 559 577
Prepaid taxes and other 445 282
Total current assets 3,205 2,979
PROPERTY, PLANT AND EQUIPMENT:    
In service 57,968 56,213
Less — Accumulated provision for depreciation 15,606 15,189
Property, plant and equipment in service net of accumulated provision for depreciation 42,362 41,024
Construction work in progress 3,925 3,389
Total property, plant and equipment 46,287 44,413
INVESTMENTS AND OTHER NONCURRENT ASSETS:    
Goodwill 5,618 5,618
Investments 635 641
Regulatory assets 1,357 829
Other 1,119 1,424
Total investments and other noncurrent assets 8,729 8,512
TOTAL ASSETS [1] 58,221 55,904
CURRENT LIABILITIES:    
Currently payable long-term debt 505 723
Short-term borrowings 1,376 325
Accounts payable 2,122 2,002
Accrued interest 388 373
Accrued taxes 738 768
Accrued compensation and benefits 256 286
Dividends payable 0 257
Customer deposits 256 250
Other 287 287
Total current liabilities 5,928 5,271
NONCURRENT LIABILITIES:    
Long-term debt and other long-term obligations 27,102 25,508
Accumulated deferred income taxes 6,314 6,032
Retirement benefits 1,464 1,469
Regulatory liabilities 891 1,185
Other 2,096 2,513
Total noncurrent liabilities 37,867 36,707
TOTAL LIABILITIES [1] 43,795 41,978
Common stockholders’ equity-    
Common stock, $0.10 par value, authorized 700,000,000 shares - 578,639,932 and 577,851,052 shares outstanding as of June 30, 2026, and December 31, 2025, respectively. 58 58
Other paid-in capital 12,432 12,431
Accumulated other comprehensive loss (14) (14)
Retained earnings 459 35
Total common stockholders’ equity 12,935 12,510
Noncontrolling interest 1,491 1,416
TOTAL EQUITY 14,426 13,926
COMMITMENTS, GUARANTEES AND CONTINGENCIES (NOTE 10.)
TOTAL LIABILITIES AND EQUITY 58,221 55,904
Customer    
Receivables -    
Customers 1,715 1,783
Less — Allowance for uncollectible customer receivables 48 57
Receivables $ 1,667 $ 1,726
[1] As of June 30, 2026, and December 31, 2025, the combined assets of the VIEs were $13,796 million and $13,270 million, respectively, that can only be used to settle obligations of the VIEs. As of June 30, 2026, and December 31, 2025, respectively, these assets include: Cash and cash equivalents of $10 million and $8 million, Restricted cash of $41 million and $40 million, Accounts receivable of $92 million and $92 million, Materials and supplies, at average cost of $1 million and $1 million, Prepaid taxes and other current assets of $20 million and $41 million, Property, plant, and equipment of $13,081 million and $12,475 million, Goodwill of $224 million and $224 million, Investments of $2
million and $19 million, Regulatory assets of $141 million and $22 million, and Other noncurrent assets of $184 million and $348 million. The consolidated liabilities as of June 30, 2026, and December 31, 2025, include $10,333 million and $9,933 million, respectively, of liabilities of VIEs whose creditors have no recourse to FE. As of June 30, 2026, and December 31, 2025, respectively, these liabilities include: Currently payable long-term debt of $52 million and $126 million, Short-term borrowings of $275 million and $245 million, Accrued interest of $112 million and $108 million, Accrued taxes of $327 million and $335 million, Other current liabilities of $6 million and $9 million, Long-term debt and other long-term obligations of $7,291 million and $6,893 million, Accumulated deferred income taxes of $1,623 million and $1,540 million, Regulatory liabilities of $478 million and $346 million, and Other noncurrent liabilities of $169 million and $331 million.