v3.26.3
FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value and Related Carrying Amounts of Long-term Debt
The following table provides the approximate fair value and related carrying value of long-term debt, which excludes unamortized debt issuance costs, discounts and premiums as of September 30, 2026, and December 31, 2025:

September 30, 2026December 31, 2025
(In millions)
Carrying value$7,100 $6,750 
Fair value$6,516 $6,576 
Schedule of Long-term Debt Redemption and Issuance
The following table summarizes the redemptions and issuances of FET and the FET Subsidiaries during the nine months ended September 30, 2026:

CompanyTypeRedemption / Issuance DateInterest RateMaturity
Amount
(In millions)
Description
Redemptions
ATSISenior UnsecuredApril, 20264.00%2026$75Redeemed senior unsecured notes that became due.
Issuances
MAITSenior UnsecuredApril, 20265.02%2036$250Proceeds were used to: (i) repay short-term borrowings; (ii) to finance capital expenditures; (iii) to fund working capital; and (iv) to fund other general corporate purposes.
ATSISenior UnsecuredApril, 20265.19%2033$175
Proceeds were used to: (i) repay short-term borrowings, including short-term borrowings incurred to repay at maturity $75 million aggregate principal amount of ATSI's 4.00% senior unsecured notes due 2026; (ii) to finance capital expenditures; (iii) to fund working capital; and (iv) to fund general corporate purposes.