Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

Below is a summary of the interest rate hedge balances at June 30, 2023 and December 31, 2022.

	June 30, 2023
	Derivatives Designated as Hedging Instruments		Economic Hedges		Total
Other deferred debits (noncurrent assets)	$	12	$	5	$	17
Total derivative assets	12		5		17
Mark-to-market derivative liabilities (current liabilities)	—		(7)		(7)
Total mark-to-market derivative liabilities	—		(7)		(7)
Total mark-to-market derivative net assets (liabilities)	$	12	$	(2)	$	10

	December 31, 2022
	Derivatives Designated as Hedging Instruments		Economic Hedges		Total
Other deferred debits (noncurrent assets)	$	6	$	5	$	11
Total derivative assets	6		5		11
Mark-to-market derivative liabilities (current liabilities)	—		(3)		(3)
Mark-to-market derivative liabilities (noncurrent liabilities)	(4)		—		(4)
Total mark-to-market derivative liabilities	(4)		(3)		(7)
Total mark-to-market derivative net assets	$	2	$	2	$	4

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table provides the notional amounts outstanding held by Exelon at June 30, 2023 and December 31, 2022.

	June 30, 2023		December 31, 2022
5-year maturity floating-to-fixed swaps	$	260	$	635
10-year maturity floating-to-fixed swaps	260		635
Total	$	520	$	1,270

Derivatives Not Designated as Hedging Instruments

The following table provides the notional amounts outstanding held by Exelon at June 30, 2023 and December 31, 2022.

Hedging Instrument	June 30, 2023		December 31, 2022
Interest rate cap swaps	$	1,000	$	1,850
Constant maturity treasury interest rate swaps	$	4,875	$	500
Total	$	5,875	$	2,350

Economic Hedges (Commodity Price Risk)

For the three and six months ended June 30, 2023, Exelon Corporate recognized the following net pre-tax mark-to-market gains (losses) which are also recognized in Net fair value changes related to derivatives in Exelon's Consolidated Statements of Cash Flows. Exelon had no swaps for the three and six months ended June 30, 2022.

	Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
Income Statement Location	(Loss) Gain		(Loss) Gain
Electric operating revenues	$	(6)	$	(5)
Interest expense	2		1
Total	$	(4)	$	(4)

Cash collateral held with external counterparties [Table]

The following table reflects the Registrants' cash collateral held with external counterparties, which is recorded in Other current liabilities on their respective Consolidated Balance Sheets, at June 30, 2023 and December 31, 2022:

	June 30, 2023		December 31, 2022
Exelon	$	108	$	297
ComEd	102		77
PECO(a)	—		—
BGE	1		23
PHI	6		197
Pepco(b)	—		26
DPL(b)	—		121
ACE	6		50

__________

(a)PECO had less than one million in cash collateral held with external parties at June 30, 2023 and December 31, 2022.

(b)Pepco and DPL had less than one million in cash collateral held with external parties at June 30, 2023.