Information by Operating Segment

6 Months Ended

Jun. 30, 2011

Information by Operating Segment

Information by Operating Segment

Information by Operating Segment

Our reportable operating segments are Generation, NewEnergy, Regulated Electric, and Regulated Gas. We discuss our reportable operating segments in detail in Note 3 of our 2010 Annual Report on Form 10-K.

        These reportable segments are strategic businesses based principally upon regulations, products, and services that require different technologies and marketing strategies. We evaluate the performance of these segments based on net income. We account for intersegment revenues using market prices. A summary of information by operating segment is shown in the table below.

	Reportable Segments
										Holding Company and Other
	Generation		NewEnergy		Regulated Electric		Regulated Gas						Eliminations			Consolidated
	(In millions)
Quarter ended June 30,
2011
Unaffiliated revenues	$	256.4	$	2,447.8	$	546.9	$	108.2		$	0.5		$	—		$	3,359.8
Intersegment revenues		420.1		112.0		0.2		0.9			—			(533.2	)		—
Total revenues		676.5		2,559.8		547.1		109.1			0.5			(533.2	)		3,359.8
Net income (loss)		40.9		51.7		22.9		(6.3	)		(1.1	)		—			108.1
Net income (loss) attributable to common stock		40.9		46.1		20.5		(7.2	)		(1.1	)		—			99.2
2010
Unaffiliated revenues	$	283.0	$	2,276.1	$	651.1	$	99.6		$	0.1		$	—		$	3,309.9
Intersegment revenues		267.3		114.7		—		0.8			—			(382.8	)		—
Total revenues		550.3		2,390.8		651.1		100.4			0.1			(382.8	)		3,309.9
Net income (loss)		15.3		50.8		20.9		(3.9	)		0.7			—			83.8
Net income (loss) attributable to common stock		15.3		42.9		18.4		(4.7	)		0.7			—			72.6
Six months ended June 30,
2011
Unaffiliated revenues	$	515.9	$	4,802.7	$	1,197.0	$	414.4		$	—		$	—		$	6,930.0
Intersegment revenues		828.2		169.2		0.3		2.0			—			(999.7	)		—
Total revenues		1,344.1		4,971.9		1,197.3		416.4			—			(999.7	)		6,930.0
Net income (loss)		53.7		40.3		62.6		35.1			(4.2	)		—			187.5
Net income (loss) attributable to common stock		53.7		29.0		57.7		33.4			(4.2	)		—			169.6
2010
Unaffiliated revenues	$	574.2	$	4,503.1	$	1,402.4	$	416.7		$	0.1		$	—		$	6,896.5
Intersegment revenues		556.0		238.6		—		1.7			—			(796.3	)		—
Total revenues		1,130.2		4,741.7		1,402.4		418.4			0.1			(796.3	)		6,896.5
Net income (loss)		42.4		154.9		48.1		33.3			(3.6	)		—			275.1
Net income (loss) attributable to common stock		42.4		150.5		43.0		31.8			(3.6	)		—			264.1

Our Generation business operating results for the quarter and six months ended June 30, 2011 include the following after-tax items:

• -

  amortization of basis difference in investment in CENG of $24.0 million and $41.6 million, respectively,

  -

  impact of power purchase agreement with CENG of $30.3 million and $57.3 million, respectively, (amount represents the amortization of our "unamortized energy contract asset" less our 50.01% equity in CENG's amortization of its "unamortized energy contract liability"),

  -

  gain on settlement with DOE for storage of spent nuclear fuel of $21.3 million and $21.3 million, respectively,

  -

  transaction fees incurred related to our acquisition of Boston Generating's 2,950 MW fleet of generating plants in Massachusetts of $0.1 million and $10.1 million, respectively, and

  -

  costs incurred related to our pending merger with Exelon of $9.5 million and $9.5 million, respectively.

Our NewEnergy business operating results for the quarter and six months ended June 30, 2011 include the amortization of credit facility amendment fees in connection with the 2009 EDF transaction of $1.5 million and $3.0 million, respectively, and costs incurred relating to our pending merger with Exelon of $4.3 million and $4.3 million, respectively.

Our Regulated Electric business operating results for the quarter and six months ended June 30, 2011 include costs incurred relating to our pending merger with Exelon of $4.1 million and $4.1 million, respectively. BGE will not seek recovery of these costs in rates.

Our Regulated Gas business operating results for the quarter and six months ended June 30, 2011 include costs incurred relating to our pending merger with Exelon of $1.4 million and $1.4 million, respectively. BGE will not seek recovery of these costs in rates.