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Revenue from Contracts with Customers (All Registrants)
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers [Text Block] Revenue from Contracts with Customers (All Registrants)
The Registrants recognize revenue from contracts with customers to depict the transfer of goods or services to customers at an amount that the entities expect to be entitled to in exchange for those goods or services. Generation’s primary sources of revenue include competitive sales of power, natural gas, and other energy-related products and services. The Utility Registrants’ primary sources of revenue include regulated electric and gas tariff sales, distribution, and transmission services.
See Note 4 — Revenue from Contracts with Customers of the Exelon 2020 Form 10-K for additional information regarding the primary sources of revenue for the Registrants.
Contract Balances (All Registrants)
Contract Assets
Generation records contract assets for the revenue recognized on the construction and installation of energy efficiency assets and new power generating facilities before Generation has an unconditional right to bill for and
receive the consideration from the customer. These contract assets are subsequently reclassified to receivables when the right to payment becomes unconditional. Generation records contract assets and contract receivables in Other current assets and Customer accounts receivable, net, respectively, in Exelon’s and Generation’s Consolidated Balance Sheets.
The following table provides a rollforward of the contract assets reflected in Exelon's and Generation's Consolidated Balance Sheets for the three and nine months ended September 30, 2021 and 2020. The Utility Registrants do not have any contract assets.
ExelonGeneration
Balance as of December 31, 2020$144 $144 
Amounts reclassified to receivables(16)(16)
Revenues recognized13 13 
Amounts previously held-for-sale12 12 
Balance as of March 31, 2021153 153 
Amounts reclassified to receivables(12)(12)
Revenues recognized9 9 
Balance as of June 30, 2021150 150 
Amounts reclassified to receivables(15)(15)
Revenues recognized14 14 
Balance as of September 30, 2021$149 $149 
ExelonGeneration
Balance as of December 31, 2019$174 $174 
Amounts reclassified to receivables(19)(19)
Revenues recognized17 17 
Balance as of March 31, 2020172 172 
Amounts reclassified to receivables(26)(26)
Revenues recognized13 13 
Balance as of June 30, 2020159 159 
Amounts reclassified to receivables(18)(18)
Revenues recognized19 19 
Balance as of September 30, 2020$160 $160 
Contract Liabilities
The Registrants record contract liabilities when consideration is received or due prior to the satisfaction of the performance obligations. The Registrants record contract liabilities in Other current liabilities and Other noncurrent liabilities in the Registrants' Consolidated Balance Sheets.
For Generation, these contract liabilities primarily relate to upfront consideration received or due for equipment service plans and the Illinois ZEC program that introduces a cap on the total consideration to be received by Generation.
For PHI, Pepco, DPL, and ACE these contract liabilities primarily relate to upfront consideration received in the third quarter of 2020 for a collaborative arrangement with an unrelated owner and manager of communication infrastructure. The revenue attributable to this arrangement will be recognized as operating revenue over the 35 years under the collaborative arrangement.
The following table provides a rollforward of the contract liabilities reflected in Exelon's, Generation's, PHI's, Pepco's, DPL's, and ACE's Consolidated Balance Sheets for the three and nine months ended September 30, 2021 and 2020. As of September 30, 2021 and December 31, 2020, ComEd's, PECO's, and BGE's contract liabilities were immaterial.
ExelonGenerationPHIPepcoDPLACE
Balance as of December 31, 2020$151 $84 $118 $94 $12 $12 
Consideration received or due20 31 — — — — 
Revenues recognized(27)(64)(2)(2)— — 
Amounts previously held-for-sale3 3 — — — — 
Balance as of March 31, 2021147 54 116 92 12 12 
Consideration received or due17 39 — — — — 
Revenues recognized(32)(68)(3)(1)(1)(1)
Balance as of June 30, 2021132 25 113 91 11 11 
Consideration received or due31 93 — — — — 
Revenues recognized(26)(65)(2)(2)— — 
Balance as of September 30, 2021$137 $53 $111 $89 $11 $11 
ExelonGenerationPHIPepcoDPLACE
Balance as of December 31, 2019$33 $71 $— $— $— $— 
Consideration received or due20 55 — — — — 
Revenues recognized(24)(70)— — — — 
Balance as of March 31, 202029 56 — — — — 
Consideration received or due13 34 — — — — 
Revenues recognized(22)(63)— — — — 
Balance as of June 30, 202020 27 — — — — 
Consideration received or due154 94 124 98 13 13 
Revenues recognized(25)(65)(2)(2)— — 
Balance as of September 30, 2020$149 $56 $122 $96 $13 $13 
The following table reflects revenues recognized in the three and nine months ended September 30, 2021 and 2020, which were included in contract liabilities at December 31, 2020 and 2019, respectively:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Exelon$4 $2 $38 $25 
Generation2 2 81 63 
PHI2 — 7 — 
Pepco2 — 5 — 
DPL— — 1 — 
ACE— — 1 — 
Transaction Price Allocated to Remaining Performance Obligations (All Registrants)
The following table shows the amounts of future revenues expected to be recorded in each year for performance obligations that are unsatisfied or partially unsatisfied as of September 30, 2021. This disclosure only includes contracts for which the total consideration is fixed and determinable at contract inception. The average contract term varies by customer type and commodity but ranges from one month to several years.
This disclosure excludes Generation's power and gas sales contracts as they contain variable volumes and/or variable pricing. This disclosure also excludes the Utility Registrants' gas and electric tariff sales contracts and transmission revenue contracts as they generally have an original expected duration of one year or less and, therefore, do not contain any future, unsatisfied performance obligations to be included in this disclosure.
20212022202320242025 and thereafterTotal
Exelon$82 $125 $50 $35 $184 $476 
Generation168 281 92 41 97 679 
PHI2 8 8 6 87 111 
Pepco2 6 6 5 70 89 
DPL— 1 1 — 9 11 
ACE— 1 1 1 8 11 
Revenue Disaggregation (All Registrants)
The Registrants disaggregate 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. See Note 5 — Segment Information for the presentation of the Registrant's revenue disaggregation.