FEFirstEnergy
FE and its subsidiaries are principally involved in the transmission, distribution, and generation of electricity. 10-K, Item 1
- Employees
- 11,186
- Headquarters
- Akron, OH
- CEO
- Brian X. Tierney
- Next results
- around Feb 16, 2027
What the 10-K filed 2026-02-18 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-27.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
No specific sentence about this in the 10-K.
Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
No specific sentence about this in the 10-K.
Lawsuits and legal claims
4 newPending cases, settlements and what the company has set aside for them.
New “On April 7, 2025, certain intervenors filed an appeal to the Supreme Court of Ohio challenging the Ohio Companies’ return to ESP IV.”
Read it in the 10-K ↗
New “The absence of $151 million (pre-tax) net proceeds from the shareholder derivative lawsuit settlement received in the second quarter of 2024;”
Read it in the 10-K ↗
New “The absence of $116 million (after-tax) of net proceeds from the shareholder derivative lawsuit settlement received in 2024;”
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“The tables above also exclude AROs, reserves for litigation, injuries and damages and environmental remediation since the amount and timing of the cash payments are uncertain.”
Read it in the 10-K ↗
New “The absence of net proceeds from the shareholder derivative lawsuit settlement in the second quarter of 2024;”
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Guarantees and indemnities
2 newPromises to pay someone else's debts or losses if they cannot.
New “As of December 31, 2025, outstanding guarantees and other assurances aggregated approximately $1.1 billion, consisting of parental guarantees on behalf of its consolidated subsidiaries ($614 million) and other assurances ($439 million).”
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New “The maximum potential amount of future payments JCP&L could be required to make under these guarantees as of December 31, 2025, was $48 million.”
Read it in the 10-K ↗
“The maximum potential amount of future payments FirstEnergy and its subsidiaries could be required to make under these guarantees as of December 31, 2025, was approximately $1.1 billion, as summarized below:”
Read it in the 10-K ↗
“Guarantees and Other Assurances Maximum Exposure”
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“The maximum potential amount of future payments JCP&L could be required to make under these guarantees as of December 31, 2025, was $48 million, as summarized below:”
Read it in the 10-K ↗
Debt covenants
1 newConditions in loan agreements that, if broken, can make debt due early.
“The potential of non-compliance with debt covenants in our credit facilities;”
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“Each of the Amended Credit Facilities contain financial covenants requiring each borrower, with the exception of FE, to maintain a consolidated debt-to-total-capitalization ratio (as defined under each of the Amended Credit Facilities) of no more than 65%, and 75% for FET, measured at the end of each fiscal quarter.”
Read it in the 10-K ↗
New “As of December 31, 2025, FE was in compliance with its applicable consolidated interest coverage ratio and the Electric Companies, the Transmission Companies, and FET were each in compliance with their debt-to-total-capitalization ratio covenants under each of their Amended Credit Facilities.”
Read it in the 10-K ↗
“As of December 31, 2025, FirstEnergy remains in compliance with all debt covenant provisions.”
Read it in the 10-K ↗
Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this in the 10-K.
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on FE in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/FE/export.csv") into a cell.