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 |
|
|