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Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Operating segments are determined based on information used by the CODM in deciding how to evaluate performance and allocate resources. We have five reportable segments consisting of the Mid-Atlantic, Midwest, New York, ERCOT, and all other power regions referred to collectively as “Other Power Regions.”
The basis for our reportable segments is the integrated management of our electricity business that is located in different geographic regions, and largely representative of the footprints of ISO/RTO and/or NERC regions, which utilize multiple supply sources to provide electricity through various distribution channels (wholesale and retail). Our hedging strategies and risk metrics are also aligned to these same geographic regions. Descriptions of each of our five reportable segments are as follows:
•Mid-Atlantic represents operations in the eastern half of PJM, which includes New Jersey, Maryland, Virginia, West Virginia, Delaware, the District of Columbia, and parts of Pennsylvania and North Carolina.
•Midwest represents operations in the western half of PJM and the United States footprint of MISO, excluding MISO’s Southern Region.
•New York represents operations within NYISO.
•ERCOT represents operations within Electric Reliability Council of Texas that covers a majority of the state of Texas.
•Other Power Regions:
•New England represents operations within ISO-NE.
•South represents operations in the FRCC, MISO’s Southern Region, and the remaining portions of the SERC not included within MISO or PJM.
•West represents operations in the WECC, which includes CAISO.
•Canada represents operations across the entire country of Canada and includes AESO, OIESO, and the Canadian portion of MISO.
The CODM evaluates the performance of our electric business activities and allocates resources based on Revenues less Purchased Power and Fuel Expense (RNF). We believe this is a useful measurement of operational performance, although it is not a presentation defined under GAAP and may not be comparable to other companies’ presentations or deemed more useful than the GAAP information provided elsewhere in this report. Our operating revenues include all sales to third parties and affiliate sales to Exelon's utility subsidiaries prior to the separation on February 1, 2022. Purchased power costs include all costs associated with the procurement and supply of electricity including capacity, energy, and ancillary services. Fuel expense includes the fuel costs for our owned generation and fuel costs associated with tolling agreements. The results of our other business activities are not regularly reviewed by the CODM and are therefore not classified as operating segments or included in the regional reportable segment amounts. These activities include natural gas, as well as other miscellaneous business activities that are not significant to our overall operating revenues or results of operations. Further, our unrealized mark-to-market gains and losses on economic hedging activities and our amortization of certain intangible assets and liabilities relating to commodity contracts recorded at fair value from mergers and acquisitions are also excluded from the regional reportable segment amounts. The CODM does not use a measure of total assets in making decisions regarding allocating resources to or assessing the performance of these reportable segments.
The following tables disaggregate the revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The disaggregation of revenues reflects our two primary products of power sales and natural gas sales, with further disaggregation of power sales provided by geographic region. The following tables also show the reconciliation of reportable segment revenues and RNF to our total revenues and RNF for the three and six months ended June 30, 2022 and 2021.
 Three Months Ended June 30, 2022
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$1,178 $22 $1,200 $2 $1,202 
Midwest1,319 (217)1,102 (1)1,101 
New York461 (68)393 (3)390 
ERCOT252 237 489 (4)485 
Other Power Regions 1,021 300 1,321 6 1,327 
Total Competitive Businesses Electric Revenues4,231 274 4,505 — 4,505 
Competitive Businesses Natural Gas Revenues 490 545 1,035 — 1,035 
Competitive Businesses Other Revenues(c)
175 (250)(75)— (75)
Total Consolidated Operating Revenues$4,896 $569 $5,465 $— $5,465 
 Three Months Ended June 30, 2021
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$1,062 $24 $1,086 $5 $1,091 
Midwest975 (13)962 — 962 
New York376 5 381 — 381 
ERCOT179 92 271 4 275 
Other Power Regions 921 126 1,047 (9)1,038 
Total Competitive Businesses Electric Revenues3,513 234 3,747 — 3,747 
Competitive Businesses Natural Gas Revenues 253 254 507 — 507 
Competitive Businesses Other Revenues(c)
107 (208)(101)— (101)
Total Consolidated Operating Revenues$3,873 $280 $4,153 $— $4,153 
 Six Months Ended June 30, 2022
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$2,332 $(27)$2,305 $2 $2,307 
Midwest2,566 (267)2,299 (1)2,298 
New York955 (203)752 3 755 
ERCOT415 309 724 (4)720 
Other Power Regions 2,441 813 3,254 — 3,254 
Total Competitive Businesses Electric Revenues8,709 625 9,334 — 9,334 
Competitive Businesses Natural Gas Revenues 1,300 1,179 2,479 — 2,479 
Competitive Businesses Other Revenues(c)
261 (1,018)(757)— (757)
Total Consolidated Operating Revenues$10,270 $786 $11,056 $— $11,056 
 Six Months Ended June 30, 2021
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$2,233 $11 $2,244 $11 $2,255 
Midwest1,983 (24)1,959 1 1,960 
New York759 (40)719 — 719 
ERCOT533 (10)523 9 532 
Other Power Regions 2,095 395 2,490 (21)2,469 
Total Competitive Businesses Electric Revenues7,603 332 7,935 — 7,935 
Competitive Businesses Natural Gas Revenues 1,117 716 1,833 — 1,833 
Competitive Businesses Other Revenues(c)
195 (251)(56)— (56)
Total Consolidated Operating Revenues$8,915 $797 $9,712 $— $9,712 
__________
(a)Includes all wholesale and retail electric sales to third parties and affiliate sales to Exelon's utility subsidiaries prior to the separation on February 1, 2022.
(b)Includes revenues from derivatives and leases.
(c)Represents activities not allocated to a region. See text above for a description of included activities. Includes unrealized mark-to-market losses of $299 million and $239 million for the three months ended June 30, 2022 and 2021, respectively, and unrealized mark-to-market losses of $1,219 million and $323 million for the six months ended June 30, 2022 and 2021, respectively, and the elimination of intersegment revenues.
 Three Months Ended June 30, 2022Three Months Ended June 30, 2021
 
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
Mid-Atlantic$542 $3 $545 $567 $5 $572 
Midwest651 1 652 658 — 658 
New York294 (1)293 289 3 292 
ERCOT110 (21)89 80 3 83 
Other Power Regions 175 (6)169 157 (21)136 
Total RNF for Reportable Segments1,772 (24)1,748 1,751 (10)1,741 
Other(b)
185 24 209 455 10 465 
Total RNF$1,957 $— $1,957 $2,206 $— $2,206 
 Six Months Ended June 30, 2022Six Months Ended June 30, 2021
 
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
Mid-Atlantic$1,051 $4 $1,055 $1,130 $11 $1,141 
Midwest1,435 2 1,437 1,359 1 1,360 
New York554 6 560 531 5 536 
ERCOT216 (47)169 (957)(145)(1,102)
Other Power Regions 470 (15)455 409 (56)353 
Total RNF for Reportable Segments3,726 (50)3,676 2,472 (184)2,288 
Other(b)
271 50 321 683 184 867 
Total RNF$3,997 $— $3,997 $3,155 $— $3,155 
__________
(a)Includes purchases and sales from/to third parties and affiliate sales to Exelon's utility subsidiaries prior to the separation on February 1, 2022.
(b)Other represents activities not allocated to a region. See text above for a description of included activities. Primarily includes:
•Unrealized mark-to-market gains of $44 million and $314 million for the three months ended June 30, 2022 and 2021, respectively, and unrealized mark-to-market losses of ($47) million and gains of $489 million for the six months ended June 30, 2022 and 2021, respectively;
•Accelerated nuclear fuel amortization associated with the announced early plant retirements as discussed in Note 7 - Early Plant Retirements of $52 million and $106 million for the three and six months ended June 30, 2021, respectively.
•The elimination of intersegment RNF.