FIRSTENERGY CORP. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts) December 31, 2022 December 31, 2021 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 160 $ 1,462 Restricted cash 46 49 Receivables- Customers 1,455 1,192 Less — Allowance for uncollectible customer receivables 137 159 1,318 1,033 Other, net of allowance for uncollectible accounts of $11 in 2022 and $10 in 2021 253 246 Materials and supplies, at average cost 421 260 Prepaid taxes and other 217 187 2,415 3,237 PROPERTY, PLANT AND EQUIPMENT: In service 47,850 46,002 Less — Accumulated provision for depreciation 13,258 12,672 34,592 33,330 Construction work in progress 1,693 1,414 36,285 34,744 INVESTMENTS AND OTHER NONCURRENT ASSETS Goodwill 5,618 5,618 Investments (Note 9) 622 655 Regulatory assets 33 71 Other 1,135 1,107 7,408 7,451 $ 46,108 $ 45,432 LIABILITIES AND CAPITALIZATION CURRENT LIABILITIES: Currently payable long-term debt $ 351 $ 1,606 Short-term borrowings 100 — Accounts payable 1,503 943 Accrued interest 254 283 Accrued taxes 668 647 Accrued compensation and benefits 272 313 Dividends payable (Note 10) 223 222 Customer deposits 223 214 Other 364 188 3,958 4,416 CAPITALIZATION: Stockholders’ equity- Common stock, $0.10 par value, authorized 700,000,000 shares - 572,130,932 and 570,261,104 shares outstanding as of December 31, 2022 and 2021, respectively 57 57 Other paid-in capital 11,322 10,238 Accumulated other comprehensive loss (14) (15) Accumulated deficit (1,199) (1,605) Total common stockholders' equity 10,166 8,675 Noncontrolling interest 477 — Total equity 10,643 8,675 Long-term debt and other long-term obligations 21,203 22,248 31,846 30,923 NONCURRENT LIABILITIES: Accumulated deferred income taxes 4,202 3,437 Retirement benefits 2,335 2,669 Regulatory liabilities 1,847 2,124 Other 1,920 1,863 10,304 10,093 COMMITMENTS, GUARANTEES AND CONTINGENCIES (Note 13) $ 46,108 $ 45,432 The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements. 75
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