Income Taxes (Tables)

9 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The effective income tax rate from continuing operations varies from the U.S. Federal statutory rate principally due to the following:

	Three Months Ended September 30, 2019
	Exelon	Generation	ComEd	PECO	BGE	PHI	Pepco	DPL	ACE
U.S. Federal statutory rate	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%
Increase (decrease) due to:
State income taxes, net of Federal income tax benefit	6.4	5.2	8.1	(0.3)	6.3	4.8	1.9	6.6	6.9
Qualified NDT fund income	3.2	7.1	—	—	—	—	—	—	—
Amortization of investment tax credit, including deferred taxes on basis difference	(4.1)	(8.9)	(0.2)	—	(0.1)	(0.2)	(0.1)	(0.2)	(0.3)
Plant basis differences	(1.7)	—	(1.0)	(7.5)	(1.1)	(1.8)	(2.6)	(0.6)	(1.9)
Production tax credits and other credits	(1.2)	(2.7)	—	—	—	—	—	—	—
Noncontrolling interests	(2.2)	(4.8)	—	—	—	—	—	—	—
Excess deferred tax amortization	(6.5)	—	(9.9)	(3.6)	(8.0)	(17.7)	(16.3)	(13.5)	(23.3)
Other	0.7	0.5	0.4	(0.5)	(0.2)	0.8	1.0	(0.1)	0.7
Effective income tax rate	15.6%	17.4%	18.4%	9.1%	17.9%	6.9%	4.9%	13.2%	3.1%

	Three Months Ended September 30, 2018
	Exelon	Generation	ComEd	PECO	BGE	PHI	Pepco	DPL	ACE
U.S. Federal statutory rate	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%
Increase (decrease) due to:
State income taxes, net of Federal income tax benefit	(1.2)	(9.0)	8.3	(3.6)	7.3	0.2	1.0	6.6	7.3
Qualified NDT fund income	2.4	5.8	—	—	—	—	—	—	—
Amortization of investment tax credit, including deferred taxes on basis difference	(0.6)	(1.1)	(0.2)	(0.1)	—	(0.2)	(0.1)	(0.3)	(0.3)
Plant basis differences	(2.5)	—	(0.3)	(15.2)	(0.8)	(2.0)	(3.4)	(0.7)	(1.3)
Production tax credits and other credits	(1.2)	(2.9)	(0.1)	—	—	—	—	—	—
Noncontrolling interests	(1.1)	(2.8)	—	—	—	—	—	—	—
Excess deferred tax amortization	(6.8)	—	(7.8)	(4.6)	(7.9)	(17.7)	(21.2)	(14.0)	(15.4)
Tax Cuts and Jobs Act of 2017	1.3	3.5	—	—	—	0.2	0.1	—	—
Other	3.2	5.6	0.3	0.9	2.6	0.6	0.3	0.6	0.3
Effective income tax rate	14.5%	20.1%	21.2%	(1.6)%	22.2%	2.1%	(2.3)%	13.2%	11.6%

	Nine Months Ended September 30, 2019
	Exelon	Generation	ComEd	PECO	BGE	PHI	Pepco	DPL	ACE
U.S. Federal statutory rate	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%
Increase (decrease) due to:
State income taxes, net of Federal income tax benefit	5.1	4.2	8.2	—	6.4	4.8	2.0	6.7	6.9
Qualified NDT fund income	5.3	11.9	—	—	—	—	—	—	—
Amortization of investment tax credit, including deferred taxes on basis difference	(1.9)	(4.0)	(0.2)	—	(0.1)	(0.2)	(0.1)	(0.2)	(0.3)
Plant basis differences	(1.6)	—	(0.7)	(6.8)	(1.1)	(1.8)	(2.3)	(0.6)	(2.0)
Production tax credits and other credits	(1.0)	(2.1)	—	—	—	—	—	—	—
Noncontrolling interests	(1.0)	(2.3)	—	—	—	—	—	—	—
Excess deferred tax amortization	(6.0)	—	(9.2)	(2.9)	(7.9)	(18.6)	(17.3)	(15.0)	(23.4)
Other	0.8	(0.1)	0.2	(0.2)	0.1	0.5	0.7	0.2	—
Effective income tax rate	20.7%	28.6%	19.3%	11.1%	18.4%	5.7%	4.0%	12.1%	2.2%

	Nine Months Ended September 30, 2018
	Exelon	Generation	ComEd	PECO	BGE	PHI	Pepco	DPL	ACE
U.S. Federal statutory rate	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%	21.0%
Increase (decrease) due to:
State income taxes, net of Federal income tax benefit	1.7	(2.6)	8.2	(3.6)	6.6	2.7	2.4	6.5	7.3
Qualified NDT fund income	0.9	2.6	—	—	—	—	—	—	—
Amortization of investment tax credit, including deferred taxes on basis difference	(0.9)	(2.2)	(0.2)	(0.1)	(0.1)	(0.2)	(0.1)	(0.3)	(0.3)
Plant basis differences	(2.7)	—	(0.1)	(15.4)	(0.7)	(1.9)	(2.9)	(0.7)	(1.3)
Production tax credits and other credits	(1.8)	(5.1)	(0.1)	—	—	—	—	—	—
Noncontrolling interests	(1.1)	(3.2)	—	—	—	—	—	—	—
Excess deferred tax amortization	(6.1)	—	(7.6)	(3.4)	(8.1)	(14.5)	(16.5)	(11.0)	(14.0)
Tax Cuts and Jobs Act of 2017	0.2	1.3	(0.2)	—	—	0.3	—	—	—
Other	0.4	2.0	0.1	—	0.9	0.3	—	0.4	0.9
Effective income tax rate	11.6%	13.8%	21.1%	(1.5)%	19.6%	7.7%	3.9%	15.9%	13.6%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

Exelon, Generation, ComEd, PHI and ACE have the following unrecognized tax benefits as of September 30, 2019 and December 31, 2018. PECO, BGE, Pepco and DPL do not have unrecognized tax benefits for the periods presented.

	Exelon		Generation		ComEd		PHI		ACE
September 30, 2019	$	448	$	411	$	—	$	45	$	14
December 31, 2018	$	477	$	408	$	2	$	45	$	14

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block]

Exelon, Generation, PHI and ACE have the following unrecognized federal and state tax benefits that could significantly decrease within the 12 months after the reporting date as a result of completing audits, potential settlements, refund claims, and the outcomes of pending court cases as of September 30, 2019:

Exelon(a)		Generation(a)		PHI(b)		ACE(b)
$	425	$	411	$	14	$	14

__________

(a) Exelon and Generation have $411 million that, if recognized, would decrease the effective tax rate.

(b)

The unrecognized tax benefit related to PHI and ACE, if recognized, may be included in future base rates and that portion would have no impact to the effective tax rate.

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

In the third quarter of 2019, Exelon reviewed and updated its marginal state income tax rates based on 2018 state apportionment rates. As a result of the rate changes, the following accounting adjustments were recorded as of September 30, 2019:

	Exelon		Generation
Increase to deferred income tax liability	$	23	$	9
Increase to income tax expense, net of federal taxes	23		9