FE · 10-Q · 2026Q1 · Full report
Liquidity and Cash Position
FIRSTENERGY CORP · 2026-04-28 · Importance 76 · Surprise 82
FirstEnergy had a net deficit in working capital of approximately $2.8 billion as of March 31, 2026, primarily due to current maturities of long-term debt, accounts payable, short-term borrowings and accrued liabilities. Short-term borrowings outstanding were $1,305 million as of March 31, 2026, up from $325 million at December 31, 2025, and available liquidity from revolving credit facilities and cash totaled $4,409 million as of April 27, 2026. The company expects existing liquidity sources, cash from operations, short-term borrowings and potential long-term debt or equity issuance (including hybrids) to be sufficient to meet operating and capital needs for 2026 and beyond. JCP&L’s working capital deficit was approximately $372 million as of March 31, 2026, and both FirstEnergy and JCP&L believe cash from operations and available liquidity are sufficient to meet near-term needs.
Key facts
- As of March 31, 2026, FirstEnergy’s net deficit in working capital was approximately $2.8 billion, primarily due to current portion of long-term debt, accounts payable, short-term borrowings and accrued interest, taxes, and compensation and benefits.
- As of March 31, 2026, JCP&L’s net deficit in working capital was approximately $372 million, primarily due to accounts payable, short-term borrowings, accrued interest, and compensation and benefits.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | — | As of March 31, 2026, FirstEnergy’s net deficit in working capital was approximately $2.8 billion, primarily due to current portion of… |
| liability | negative | realized | — | As of March 31, 2026, JCP&L’s net deficit in working capital was approximately $372 million, primarily due to accounts payable, short-term… |