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Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Defined Benefit Plan Change In Benefit Obligation RollForward
The following tables provide a rollforward of the changes in the benefit obligations and plan assets of Exelon for the most recent two years for all plans combined:
 
Pension Benefits
 
OPEB
 
2019
 
2018
 
2019
 
2018
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at beginning of year
$
20,692

 
$
22,337

 
$
4,369

 
$
4,856

Service cost
357

 
405


93

 
112

Interest cost
883

 
802


188

 
175

Plan participants’ contributions
—

 
—

 
44

 
45

Actuarial (gain) loss(a)
2,322

 
(1,561
)
 
250

 
(540
)
Plan amendments
68

 
(4
)
 
—

 
—

Curtailments
(3
)
 
—

 
—

 
—

Settlements
(35
)
 
(48
)

(4
)
 
(4
)
Contractual termination benefits
1

 
—

 
—

 
—

Gross benefits paid
(1,417
)
 
(1,239
)

(282
)
 
(275
)
Net benefit obligation at end of year
$
22,868

 
$
20,692

 
$
4,658

 
$
4,369

 
Pension Benefits
 
OPEB
 
2019
 
2018
 
2019
 
2018
Change in plan assets:
 
 
 
 
 
 
 
Fair value of net plan assets at beginning of year
$
16,678

 
$
18,573

 
$
2,408

 
$
2,732

Actual return on plan assets
3,008

 
(945
)
 
324

 
(136
)
Employer contributions
356


337


51


46

Plan participants’ contributions
—

 
—

 
44

 
45

Gross benefits paid
(1,417
)

(1,239
)

(282
)

(275
)
Settlements
(35
)

(48
)

(4
)

(4
)
Fair value of net plan assets at end of year
$
18,590

 
$
16,678

 
$
2,541

 
$
2,408

__________
(a)
The pension actuarial loss in 2019 primarily reflects a decrease in the discount rate. The OPEB actuarial loss in 2019 primarily reflects a decrease in the discount rate. The pension actuarial gain in 2018 primarily reflects an increase in the discount rate. The OPEB actuarial gain in 2018 primarily reflects an increase in the discount rate and favorable health care claims experience.
Schedule of Amounts Recognized in Balance Sheet
Exelon presents its benefit obligations and plan assets net on its balance sheet within the following line items:
 
Pension Benefits
 
OPEB
 
2019
 
2018
 
2019
 
2018
Other current liabilities
$
31

 
$
26

 
$
41

 
$
33

Pension obligations
4,247


3,988


—


—

Non-pension postretirement benefit obligations
—

 
—

 
2,076


1,928

Unfunded status (net benefit obligation less plan assets)
$
4,278


$
4,014


$
2,117


$
1,961
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table provides the accumulated benefit obligation (ABO) and fair value of plan assets for all pension plans with an ABO in excess of plan assets. Information for pension and OPEB plans with projected benefit obligations (PBO) and accumulated postretirement benefit obligation (APBO), respectively, in excess of plan assets has been disclosed in the Obligations and Plan Assets table above as all pension and OPEB plans are underfunded.
ABO in excess of plan assets
Exelon
 
2019
 
2018
Accumulated benefit obligation
21,727

 
19,656

Fair value of net plan assets
18,590

 
16,678
Schedule of Defined Benefit Plans Disclosures The following tables present the components of Exelon’s net periodic benefit costs, prior to capitalization, for the years ended December 31, 2019, 2018 and 2017.
 
Pension Benefits
 
OPEB
 
2019
 
2018
 
2017(a)
 
2019
 
2018
 
2017(a)
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
357


$
405


$
387


$
93


$
112


$
106

Interest cost
883


802


842


188


175


182

Expected return on assets
(1,225
)
 
(1,252
)
 
(1,196
)
 
(153
)
 
(173
)
 
(162
)
Amortization of:
 
 
 
 
 
 
 
 
 
 
 
Prior service cost (credit)
—

 
2

 
1

 
(179
)
 
(186
)
 
(188
)
Actuarial loss
414

 
629

 
607

 
45

 
66

 
61

Settlement and other charges
17

 
3

 
3

 
1

 
1

 
—

Contractual termination benefits
1

 
—

 
—

 
—

 
—

 
—

Net periodic benefit cost
$
447

 
$
589

 
$
644

 
$
(5
)
 
$
(5
)
 
$
(1
)

__________ 
(a)
FitzPatrick net benefit costs are included for the period after acquisition.
Schedule Of Pension And Other Postretirement Benefit Costs [Table Text Block]
The amounts below represent the Registrants’ allocated pension and OPEB costs. As a result of new pension guidance effective on January 1, 2018, certain balances have been reclassified on Exelon’s Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2017. For Exelon, the service cost component is included in Operating and maintenance expense and Property, plant and equipment, net, while the non–service cost components are included in Other, net and Regulatory assets for the years ended December 31, 2019 and December 31, 2018 and in Other, net and Property, plant and equipment, net, for the year ended December 31, 2017. For Generation and the Utility Registrants, the service cost and non–service cost components are included
in Operating and maintenance expense and Property, plant and equipment, net on their consolidated financial statements.
For the Years Ended December 31,
Exelon
 
Generation(a)
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
2019
$
442

 
$
135

 
$
96

 
$
12

 
$
61

 
$
95

 
$
25

 
$
15

 
$
16

2018
583

 
204

 
177

 
18

 
60

 
67

 
15

 
6

 
12

2017
643

 
227

 
176

 
29

 
64

 
94

 
25

 
13

 
13

__________
(a)
FitzPatrick net benefit costs are included for the period after acquisition.
Changes In Plan Assets And Benefit Obligations Recognized In OCI And Regulatory Assets The following tables provide the components of AOCI and regulatory assets (liabilities) for Exelon for the years ended December 31, 2019, 2018 and 2017 for all plans combined.
 
Pension Benefits
 
OPEB
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Changes in plan assets and benefit obligations recognized in AOCI and regulatory assets (liabilities):
 
 
 
 
 
 
 
 
 
 
 
Current year actuarial (gain) loss
$
538

 
$
635

 
$
(222
)
 
$
80

 
$
(232
)
 
$
166

Amortization of actuarial loss
(414
)
 
(629
)
 
(607
)
 
(45
)
 
(66
)
 
(61
)
Current year prior service cost (credit)
68

 
(4
)
 
9

 
—

 
—

 
—

Amortization of prior service (cost) credit
—

 
(2
)
 
(1
)
 
179

 
186

 
188

Curtailments
(3
)
 
—

 
—

 
—

 
—

 
—

Settlements
(17
)
 
(3
)
 
(3
)
 
(1
)
 
—

 
—

Total recognized in AOCI and regulatory assets (liabilities)
$
172


$
(3
)
 
$
(824
)
 
$
213


$
(112
)
 
$
293

 
 
 
 
 
 
 
 
 
 
 
 
Total recognized in AOCI
$
169

 
$
3

 
$
(401
)
 
$
107

 
$
(55
)
 
$
168

Total recognized in regulatory assets (liabilities)
$
3

 
$
(6
)
 
$
(423
)
 
$
106

 
$
(57
)
 
$
125


The following table provides the components of gross accumulated other comprehensive loss and regulatory assets (liabilities) for Exelon that have not been recognized as components of periodic benefit cost at December 31, 2019 and 2018, respectively, for all plans combined:
 
Pension Benefits
 
OPEB
 
2019

2018
 
2019
 
2018
Prior service (credit) cost
$
39


$
(29
)
 
$
(158
)
 
$
(337
)
Actuarial loss
7,662

 
7,558

 
565

 
531

Total
$
7,701

 
$
7,529

 
$
407

 
$
194

 
 
 
 
 
 
 
 
Total included in AOCI
$
4,068

 
$
3,899

 
$
177

 
$
70

Total included in regulatory assets (liabilities)
$
3,633

 
$
3,630

 
$
230

 
$
124
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Table Text Block]
For Exelon, the following assumptions were used to determine the benefit obligations for the plans at December 31, 2019 and 2018. Assumptions used to determine year-end benefit obligations are the assumptions used to estimate the subsequent year’s net periodic benefit costs.
 
Pension Benefits
OPEB
 
2019
 
2018
 
2019
 
2018
 
Discount rate
3.34
%
(a)  
4.31
%
(a)  
3.31
%
(a)  
4.30
%
(a)  
Investment Crediting Rate
3.82
%
(b)  
4.46
%
(b)  
N/A

 
N/A

 
Rate of compensation increase
    
(c) 
    
(c) 
    
(c) 
    
(c) 
Mortality table
Pri-2012 table with MP- 2019 improvement scale (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
Pri-2012 table with MP- 2019 improvement scale (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
Health care cost trend on covered charges
N/A
 
N/A
 
5.00% with
ultimate trend of 5.00% in
2017
 
5.00% with
ultimate trend of 5.00% in
2017
 
__________
(a)
The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and OPEB obligations. Certain benefit plans used individual rates, which range from 3.02% - 3.44% and 3.27% - 3.4% for pension and OPEB plans, respectively, as of December 31, 2019 and 4.13% - 4.36% and 4.27% - 4.38% for pension and OPEB plans, respectively, as of December 31, 2018.
(b)
The investment crediting rate above represents a weighted average rate.
(c)
3.25% through 2019 and 3.75% thereafter.
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Table Text Block]
The following assumptions were used to determine the net periodic benefit cost for Exelon for the years ended December 31, 2019, 2018 and 2017: 
 
Pension Benefits
 
Other Postretirement Benefits
 
Exelon
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
Discount rate
4.31
%
(a) 
3.62
%
(a) 
4.04
%
(a) 
4.30
%
(a) 
3.61
%
(a) 
4.04
%
(a) 
Investment Crediting Rate
4.46
%
(b)  
4.00
%
(b)  
4.46
%
(b)  
N/A

 
N/A

 
N/A

 
Expected return on plan assets
7.00
%
(c) 
7.00
%
(c) 
7.00
%
(c) 
6.67
%
(c) 
6.60
%
(c) 
6.58
%
(c) 
Rate of compensation increase
    

(d)  
 
(d)  
 
(e) 
    

(d)  
 
(d)  
 
(e) 
Mortality table
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
Health care cost trend on covered charges
N/A
  
N/A
  
N/A
  
5.00%
with
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
5.00%
with
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
5.50%
decreasing
to
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
__________
(a)
The discount rates above represent the blended rates used to establish the majority of Exelon’s pension and OPEB costs. Certain benefit plans used individual rates, which range from 4.13%-4.36% and 4.27%-4.38% for pension and OPEB plans, respectively, for the year ended December 31, 2019; 3.49%-3.65% and 3.57%-3.68% for pension and OPEB plans; respectively, for the year ended December 31, 2018; and 3.66%-4.11% and 4.00%-4.17% for pension and OPEB plans, respectively, for the year ended December 31, 2017.
(b)
The investment crediting rate above represents a weighted average rate.
(c)
Not applicable to pension and other postretirement benefit plans that do not have plan assets.
(d)
3.25% through 2019 and 3.75% thereafter.
(e)
The legacy Exelon, CEG and CENG pension and other postretirement plans used a rate of compensation increase of 3.25% through 2019 and 3.75% thereafter, while the legacy PHI pension and OPEB plans used a weighted-average rate of compensation increase of 5% for all periods.
Pension And Other Postretirement Benefit Contributions [Table Text Block]
The following table provides all registrants' planned contributions to the qualified pension plans, planned benefit payments to non-qualified pension plans, and planned contributions to other postretirement plans in 2020:

Qualified Pension Plans

Non-Qualified Pension Plans

OPEB
Exelon
$
505


$
36


$
42

Generation
227


14


16

ComEd
141


2


3

PECO
17


1


—

BGE
56


2


16

PHI
22


9


7

Pepco
—


2


7

DPL
—


1


—

ACE
2


—


—


Exelon allocates contributions related to its legacy Exelon pension and OPEB plans to its subsidiaries based on accounting cost. For legacy CEG, CENG, FitzPatrick, and PHI plans, pension and OPEB contributions are allocated to the subsidiaries based on employee participation (both active and retired). The following tables provide contributions to the pension and OPEB plans:
 
Pension Benefits
 
OPEB
 
2019(a)
 
2018(a)
 
2017(a)
 
2019
 
2018
 
2017
Exelon
$
356


$
337


$
341


$
51

 
$
46

 
$
64

Generation
160

 
128

 
137

 
15

 
11

 
11

ComEd
72

 
38

 
36

 
5

 
4

 
5

PECO
27

 
28

 
24

 
1

 
—

 
—

BGE
34

 
40

 
39

 
14

 
14

 
14

PHI
10

 
62

 
67

 
15

 
12

 
32

Pepco
2

 
6

 
62

 
12

 
11

 
10

DPL
1

 
—

 
—

 
—

 
—

 
2

ACE
—

 
6

 
—

 
1

 
—

 
20

__________
(a)
Exelon's and Generation's pension contributions include $21 million related to the legacy CENG plans that was funded by CENG as provided in an Employee Matters Agreement (EMA) between Exelon and CENG for the year ended December 31, 2017. There were no pension contributions for the years ended December 31, 2019 and 2018.
Schedule of Expected Benefit Payments [Table Text Block]
Estimated future benefit payments to participants in all of the pension plans and postretirement benefit plans at December 31, 2019 were:
 
Pension
Benefits
 
OPEB
2020
$
1,227

 
$
258

2021
1,252

 
263

2022
1,295

 
267

2023
1,310

 
270

2024
1,324

 
275

2025 through 2029
6,770

 
1,402

Total estimated future benefit payments through 2029
$
13,178


$
2,735
Defined Benefit Plan Weighted Average Asset Allocations And Target Allocations [Table Text Block]
Exelon’s pension and OPEB plan target asset allocations at December 31, 2019 and 2018 were as follows:
 
December 31, 2019
 
December 31, 2018
Asset Category
Pension Benefits
 
OPEB
 
Pension Benefits
 
OPEB
Equity securities
33
%
 
46
%
 
35
%
 
47
%
Fixed income securities
44
%
 
32
%
 
37
%
 
28
%
Alternative investments(a)
23
%
 
22
%
 
28
%
 
25
%
Total
100
%
 
100
%
 
100
%
 
100
%
__________
(a)
Alternative investments include private equity, hedge funds, real estate, and private credit.
Defined Benefit Plan Fair Value Of Plan Assets [Text Block]
The following tables present pension and OPEB plan assets measured and recorded at fair value in Exelon's Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy at December 31, 2019 and 2018:
December 31, 2019(a)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Pension plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
258

 
$
—

 
$
—

 
$
—

 
$
258

Equities(b)
3,616

 
—

 
5

 
2,589

 
6,210

Fixed income:





 
 
 

U.S. Treasury and agencies
1,294

 
280

 
—

 
—

 
1,574

State and municipal debt
—

 
56

 
—

 
—

 
56

Corporate debt
—

 
4,342

 
245

 
—

 
4,587

Other(b)
—

 
461

 
—

 
851

 
1,312

Fixed income subtotal
1,294


5,139


245

 
851

 
7,529

Private equity
—

 
—

 
—

 
1,391

 
1,391

Hedge funds
—

 
—

 
—

 
1,126

 
1,126

Real estate
—

 
—

 
—

 
1,030

 
1,030

Private credit
—

 
—

 
237

 
929

 
1,166

Pension plan assets subtotal
$
5,168


$
5,139


$
487

 
$
7,916

 
$
18,710

December 31, 2019(a)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
OPEB plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
39

 
$
—

 
$
—

 
$
—

 
$
39

Equities
473

 
3

 
—

 
719

 
1,195

Fixed income:





 
 
 

U.S. Treasury and agencies
17

 
64

 
—

 
—

 
81

State and municipal debt
—

 
107

 
—

 
—

 
107

Corporate debt
—

 
49

 
—

 
—

 
49

Other
258

 
78

 
—

 
201

 
537

Fixed income subtotal
275


298


—


201

 
774

Hedge funds
—

 
—

 
—

 
293

 
293

Real estate
—

 
—

 
—

 
109

 
109

Private credit
—

 
—

 
—

 
131

 
131

OPEB plan assets subtotal
$
787


$
301


$
—

 
$
1,453


$
2,541

Total pension and OPEB plan assets(c)
$
5,955

 
$
5,440

 
$
487

 
$
9,369

 
$
21,251

December 31, 2018(a)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Pension plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
350

 
$
—

 
$
—

 
$
—

 
$
350

Equities(b)
3,364

 
—

 
2

 
1,980

 
5,346

Fixed income:


 


 


 
 
 


U.S. Treasury and agencies
996

 
173

 
—

 
—

 
1,169

State and municipal debt
—

 
59

 
—

 
—

 
59

Corporate debt
—

 
3,716

 
216

 
—

 
3,932

Other(b)
—

 
329

 
—

 
613

 
942

Fixed income subtotal
996


4,277


216

 
613

 
6,102

Private equity
—

 
—

 
—

 
1,219

 
1,219

Hedge funds
—

 
—

 
—

 
1,608

 
1,608

Real estate
—

 
—

 
—

 
1,029

 
1,029

Private credit
—

 
—

 
268

 
798

 
1,066

Pension plan assets subtotal
$
4,710


$
4,277


$
486

 
$
7,247


$
16,720

December 31, 2018(a)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
OPEB plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
22

 
$
—

 
$
—

 
$
—

 
$
22

Equities
537

 
2

 
—

 
508

 
1,047

Fixed income:





 
 
 

U.S. Treasury and agencies
11

 
56

 
—

 
—

 
67

State and municipal debt
—

 
126

 
—

 
—

 
126

Corporate debt
—

 
48

 
—

 
—

 
48

Other
183

 
72

 
—

 
170

 
425

Fixed income subtotal
194


302


—

 
170

 
666

Hedge funds
—

 
—

 
—

 
411

 
411

Real estate
—

 
—

 
—

 
132

 
132

Private credit
—

 
—

 
—

 
132

 
132

OPEB plan assets subtotal
$
753


$
304


$
—

 
$
1,353

 
$
2,410

Total pension and OPEB plan assets(c)
$
5,463

 
$
4,581

 
$
486

 
$
8,600

 
$
19,130

__________
(a)
See Note 17—Fair Value of Financial Assets and Liabilities for a description of levels within the fair value hierarchy.
(b)
Includes derivative instruments of $2 million and less than $1 million, which have a total notional amount of $6,668 million and $5,991 million at December 31, 2019 and 2018, respectively. The notional principal amounts for these instruments provide one measure of the transaction volume outstanding as of the fiscal years ended and do not represent the amount of the company’s exposure to credit or market loss.
(c)
Excludes net liabilities of $120 million and $44 million at December 31, 2019 and 2018, respectively, which are required to reconcile to the fair value of net plan assets. These items consist primarily of receivables or payables related to pending securities sales and purchases, interest and dividends receivable
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following table presents the reconciliation of Level 3 assets and liabilities for Exelon measured at fair value for pension and OPEB plans for the years ended December 31, 2019 and 2018:
 
Fixed Income
 
Equities
 
Private
Credit
 
Total
Pension Assets
 
 
 
 
 
 
 
Balance as of January 1, 2019
$
216


$
2

 
$
268

 
$
486

Actual return on plan assets:



 
 
 


Relating to assets still held at the
reporting date
28


3

 
28

 
59

Relating to assets sold during the
period
(7
)

—

 
—

 
(7
)
Purchases, sales and settlements:



 
 
 


Purchases
26


—

 
41

 
67

Sales
(4
)

—

 
—

 
(4
)
Settlements(a)
(2
)

—

 
(100
)
 
(102
)
Transfers out of Level 3
(12
)

—

 
—

 
(12
)
Balance as of December 31, 2019
$
245


$
5

 
$
237

 
$
487

 
Fixed income
 
Equities
 
Private
Credit
 
Total
Pension Assets
 
 
 
 
 
 
 
Balance as of January 1, 2018
$
232


$
2

 
$
224

 
$
458

Actual return on plan assets:



 
 
 


Relating to assets still held at the
reporting date
(14
)

—

 
9

 
(5
)
Relating to assets sold during the
period
(1
)

—

 
—

 
(1
)
Purchases, sales and settlements:



 
 
 


Purchases
19


—

 
35

 
54

Sales
(8
)

—

 
—

 
(8
)
Settlements(a)
(12
)

—

 
—

 
(12
)
Balance as of December 31, 2018
$
216


$
2


$
268

 
$
486

__________
(a)
Represents cash settlements only.
Schedule Of Defined Contributions [Table Text Block] The following table presents matching contributions to the savings plan for the years ended December 31, 2019, 2018 and 2017:
For the Year Ended December 31,
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
2019
$
161

 
$
73


$
35


$
11


$
12


13

 
$
3

 
$
3

 
$
2

2018
179

 
86


37


9


12


13

 
3

 
2

 
2

2017
128

 
55


31


10


10


13

 
3

 
2

 
2