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Segment Information
 12 Months Ended
Dec. 31, 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 FRCC, MISO’s Southern Region, and the remaining portions of SERC not included within MISO or PJM.
•West represents operations in 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 Operating 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 affiliated sales to Exelon's utility subsidiaries, prior to the separation. 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 wholesale and retail sales of natural gas, as well as other miscellaneous business activities that are not significant to our overall 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 years ended December 31, 2022, 2021, and 2020.
 2022
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$5,264 $(105)$5,159 $5 $5,164 
Midwest5,164 (507)4,657 (7)4,650 
New York2,004 (408)1,596 (1)1,595 
ERCOT954 602 1,556 (13)1,543 
Other Power Regions 5,035 1,681 6,716 16 6,732 
Total Competitive Businesses Electric Revenues$18,421 $1,263 $19,684 $— $19,684 
Competitive Businesses Natural Gas Revenues 2,559 2,408 4,967 — 4,967 
Competitive Businesses Other Revenues(c)
591 (802)(211)— (211)
Total Consolidated Operating Revenues$21,571 $2,869 $24,440 $— $24,440 
 2021
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$4,381 $183 $4,564 $20 $4,584 
Midwest4,265 (205)4,060 — 4,060 
New York1,633 (57)1,576 (1)1,575 
ERCOT896 276 1,172 9 1,181 
Other Power Regions 3,937 981 4,918 (28)4,890 
Total Competitive Businesses Electric Revenues$15,112 $1,178 $16,290 $— $16,290 
Competitive Businesses Natural Gas Revenues 1,777 1,602 3,379 — 3,379 
Competitive Businesses Other Revenues(c)
365 (385)(20)— (20)
Total Consolidated Operating Revenues$17,254 $2,395 $19,649 $— $19,649 
 2020
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$4,785 $(168)$4,617 $28 $4,645 
Midwest3,717 312 4,029 (5)4,024 
New York1,444 (12)1,432 (1)1,431 
ERCOT735 198 933 25 958 
Other Power Regions 3,586 463 4,049 (47)4,002 
Total Competitive Businesses Electric Revenues$14,267 $793 $15,060 $— $15,060 
Competitive Businesses Natural Gas Revenues 1,283 720 2,003 — 2,003 
Competitive Businesses Other Revenues(c)
355 185 540 — 540 
Total Consolidated Operating Revenues$15,905 $1,698 $17,603 $— $17,603 
__________
(a)Includes all wholesale and retail electric sales to third parties and affiliated sales to Exelon's utility subsidiaries prior to the separation on February 1, 2022. See Note 24 — Related Party Transactions for additional information.
(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 $1,188 million and $633 million and gains of $110 million for the years ended December 31, 2022, 2021, and 2020, respectively.
 202220212020
 
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
Mid-Atlantic$2,129 $9 $2,138 $2,247 $17 $2,264 $2,174 $30 $2,204 
Midwest2,765 (1)2,764 2,717 — 2,717 2,902 — 2,902 
New York1,061 6 1,067 1,151 10 1,161 983 14 997 
ERCOT503 (96)407 (668)(157)(825)407 19 426 
Other Power Regions 952 (31)921 984 (93)891 759 (94)665 
Total RNF for Reportable Segments$7,410 $(113)$7,297 $6,431 $(223)$6,208 $7,225 $(31)$7,194 
Other(b)
(432)113 (319)1,055 223 1,278 793 31 824 
Total RNF$6,978 $— $6,978 $7,486 $— $7,486 $8,018 $— $8,018 
__________ 
(a)Includes purchases and sales from/to third parties and affiliated sales to Exelon's utility subsidiaries prior to the separation on February 1, 2022. See Note 24 — Related Party Transactions for additional information.
(b)Other represents activities not allocated to a region. See text above for a description of included activities. Primarily includes:
•Unrealized mark-to-market losses of $1,013 million, and gains of $565 million, and $295 million for the years ended December 31, 2022, 2021, and 2020, respectively;
•Accelerated nuclear fuel amortization associated with the announced early plant retirements as discussed in Note 7 - Early Plant Retirements of $148 million, and $60 million for the years ended December 31, 2021, and 2020, respectively; and
•The elimination of intersegment RNF.