XML 40 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating revenues        
Revenues from alternative revenue programs $ 64 $ (47) $ 92 $ 129
Total operating revenues 4,845 4,863 14,412 13,514
Operating expenses        
Purchased power and/or fuel from affiliates 0 317 159 867
Operating and maintenance 1,148 1,187 3,436 3,340
Depreciation and amortization 825 758 2,472 2,253
Taxes other than income taxes 377 353 1,061 983
Total operating expenses 3,834 4,107 11,804 11,357
Gain on sales of assets and businesses 0 0 (2) 3
Operating income (loss) 1,011 756 2,606 2,160
Other income and (deductions)        
Interest expense, net (359) (318) (1,044) (947)
Interest expense to affiliates (6) (6) (19) (20)
Other, net 122 60 435 190
Total other income and (deductions) (243) (264) (628) (777)
Income (Loss) before income taxes 768 492 1,978 1,383
Income taxes 92 35 356 76
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 676 457 1,622 1,307
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 0 772 117 134
Net income (loss) 676 1,229 1,739 1,441
Net income (loss) attributable to noncontrolling interests 0 26 1 126
Net Income (Loss) Available to Common Stockholders, Basic 676 1,203 1,738 1,315
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic 676 457 1,622 1,307
Net Income (Loss) from Discontinued Operations Available to Common Shareholders, Basic 0 746 116 8
Other comprehensive income (loss), net of income taxes        
Prior service benefit reclassified to periodic benefit cost 0 (1) 0 (4)
Actuarial loss reclassified to periodic benefit cost 9 56 33 167
Pension and non-pension postretirement benefit plan valuation adjustment 0 14 2 15
Unrealized gain (loss) on foreign currency translation 0 (3) 0 (1)
Other comprehensive income 9 66 35 177
Comprehensive income 685 1,295 1,774 1,618
Comprehensive income attributable to noncontrolling interests 0 26 1 126
Comprehensive income attributable to common shareholders/membership interest $ 685 $ 1,269 $ 1,773 $ 1,492
Average shares of common stock outstanding:        
Basic average shares of common stock outstanding 988 979 983 978
Assumed exercise and/or distributions of stock-based awards 1 1 1 1
Diluted average shares of common stock outstanding 989 980 984 [1] 979 [1]
Earnings Per Share [Abstract]        
Income (Loss) from Continuing Operations, Per Basic Share $ 0.68 $ 0.47 $ 1.65 $ 1.33
Income (Loss) from Continuing Operations, Per Diluted Share 0.68 0.47 1.65 1.33
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share 0 0.76 0.12 0.01
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share $ 0 $ 0.76 $ 0.12 $ 0.01
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 0 0 0 0
Commonwealth Edison Co [Member]        
Operating revenues        
Revenues from alternative revenue programs $ 88 $ (32) $ 163 $ 32
Operating revenues from affiliates 6 9 14 19
Total operating revenues 1,378 1,789 4,536 4,840
Operating expenses        
Purchased power and/or fuel from affiliates 0 93 59 256
Operating and maintenance 286 257 809 752
Related Party Transaction, Expenses from Transactions with Related Party 69 73 236 217
Depreciation and amortization 333 304 982 893
Taxes other than income taxes 104 91 289 243
Total operating expenses 913 1,428 3,357 3,833
Gain on sales of assets and businesses 0 0 (2) 0
Operating income (loss) 465 361 1,177 1,007
Other income and (deductions)        
Interest expense, net (101) (95) (298) (282)
Interest expense to affiliates (3) (3) (10) (10)
Other, net 14 13 40 35
Total other income and (deductions) (90) (85) (268) (257)
Income (Loss) before income taxes 375 276 909 750
Income taxes 84 56 203 141
Net income (loss) 291 220 706 609
Other comprehensive income (loss), net of income taxes        
Comprehensive income 291 220 706 609
PECO Energy Co [Member]        
Operating revenues        
Revenues from alternative revenue programs (5) 3 1 20
Operating revenues from affiliates 3 2 5 6
Total operating revenues 1,014 818 2,877 2,399
Operating expenses        
Purchased power and/or fuel from affiliates 0 60 33 141
Operating and maintenance 197 220 561 580
Related Party Transaction, Expenses from Transactions with Related Party 46 43 144 126
Depreciation and amortization 92 86 277 259
Taxes other than income taxes 60 51 155 143
Total operating expenses 798 677 2,230 1,908
Operating income (loss) 216 141 647 491
Other income and (deductions)        
Interest expense, net (42) (37) (120) (110)
Interest expense to affiliates (3) (3) (9) (9)
Other, net 8 7 23 20
Total other income and (deductions) (37) (33) (106) (99)
Income (Loss) before income taxes 179 108 541 392
Income taxes 44 (3) 67 9
Net income (loss) 135 111 474 383
Other comprehensive income (loss), net of income taxes        
Comprehensive income 135 111 474 383
Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (8) (24) (40) (17)
Operating revenues from affiliates 3 7 13 20
Total operating revenues 870 770 2,810 2,426
Operating expenses        
Purchased power and/or fuel from affiliates 0 64 18 193
Operating and maintenance 185 159 506 458
Related Party Transaction, Expenses from Transactions with Related Party 50 46 152 137
Depreciation and amortization 148 142 470 434
Taxes other than income taxes 77 72 225 211
Total operating expenses 810 709 2,446 2,080
Operating income (loss) 60 61 364 346
Other income and (deductions)        
Interest expense, net (39) (36) (110) (103)
Other, net 5 7 16 23
Total other income and (deductions) (34) (29) (94) (80)
Income (Loss) before income taxes 26 32 270 266
Income taxes (7) (4) 3 (24)
Net income (loss) 33 36 267 290
Other comprehensive income (loss), net of income taxes        
Comprehensive income 33 36 267 290
Pepco Holdings LLC [Member]        
Operating revenues        
Revenues from alternative revenue programs (11) 6 (33) 94
Operating revenues from affiliates 3 3 9 10
Total operating revenues 1,598 1,470 4,223 3,854
Operating expenses        
Purchased power and/or fuel from affiliates 0 100 50 277
Operating and maintenance 237 235 729 668
Related Party Transaction, Expenses from Transactions with Related Party 40 43 138 122
Depreciation and amortization 238 210 697 614
Taxes other than income taxes 129 127 362 349
Total operating expenses 1,254 1,155 3,535 3,167
Operating income (loss) 344 315 688 687
Other income and (deductions)        
Interest expense, net (72) (67) (216) (201)
Other, net 19 16 56 52
Total other income and (deductions) (53) (51) (160) (149)
Income (Loss) before income taxes 291 264 528 538
Income taxes 2 (2) 10 3
Net income (loss) 289 266 518 535
Other comprehensive income (loss), net of income taxes        
Comprehensive income attributable to common shareholders/membership interest 289 266 518 535
Potomac Electric Power Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (8) 9 (15) 54
Operating revenues from affiliates 2 2 4 4
Total operating revenues 724 660 1,919 1,736
Operating expenses        
Purchased power and/or fuel from affiliates 0 69 39 200
Operating and maintenance 69 68 214 186
Related Party Transaction, Expenses from Transactions with Related Party 52 52 166 155
Depreciation and amortization 99 104 312 302
Taxes other than income taxes 105 105 291 282
Total operating expenses 555 501 1,588 1,396
Operating income (loss) 169 159 331 340
Other income and (deductions)        
Interest expense, net (37) (35) (111) (104)
Other, net 14 12 39 37
Total other income and (deductions) (23) (23) (72) (67)
Income (Loss) before income taxes 146 136 259 273
Income taxes 1 6 (2) 9
Net income (loss) 145 130 261 264
Other comprehensive income (loss), net of income taxes        
Comprehensive income 145 130 261 264
Delmarva Power and Light Company [Member]        
Operating revenues        
Revenues from alternative revenue programs 0 (2) (3) 17
Operating revenues from affiliates 1 2 5 6
Total operating revenues 412 360 1,176 1,040
Operating expenses        
Purchased power and/or fuel from affiliates 0 26 10 63
Operating and maintenance 45 47 142 132
Related Party Transaction, Expenses from Transactions with Related Party 39 40 124 117
Depreciation and amortization 59 53 172 157
Taxes other than income taxes 19 17 54 50
Total operating expenses 345 295 999 858
Operating income (loss) 67 65 177 182
Other income and (deductions)        
Interest expense, net (16) (15) (48) (47)
Other, net 3 3 9 9
Total other income and (deductions) (13) (12) (39) (38)
Income (Loss) before income taxes 54 53 138 144
Income taxes 2 3 8 9
Net income (loss) 52 50 130 135
Other comprehensive income (loss), net of income taxes        
Comprehensive income 52 50 130 135
Atlantic City Electric Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (3) 0 (14) 23
Operating revenues from affiliates 0 1 2 2
Total operating revenues 462 451 1,120 1,080
Operating expenses        
Purchased power and/or fuel from affiliates 0 5 2 14
Operating and maintenance 47 46 145 128
Related Party Transaction, Expenses from Transactions with Related Party 33 35 106 103
Depreciation and amortization 74 46 192 133
Taxes other than income taxes 2 2 7 6
Total operating expenses 353 359 947 911
Operating income (loss) 109 92 173 169
Other income and (deductions)        
Interest expense, net (17) (14) (49) (43)
Other, net 3 1 9 3
Total other income and (deductions) (14) (13) (40) (40)
Income (Loss) before income taxes 95 79 133 129
Income taxes 1 (11) 2 (12)
Net income (loss) 94 90 131 141
Other comprehensive income (loss), net of income taxes        
Comprehensive income 94 90 131 141
Electricity, US Regulated        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 4,557 4,736 12,972 12,344
Operating expenses        
Purchased power and/or fuel 1,404 1,452 4,152 3,598
Electricity, US Regulated | Commonwealth Edison Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 1,284 1,812 4,359 4,789
Operating expenses        
Purchased power and/or fuel 121 610 982 1,472
Electricity, US Regulated | PECO Energy Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 943 757 2,384 2,008
Operating expenses        
Purchased power and/or fuel 377 206 850 540
Electricity, US Regulated | Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 761 694 2,138 1,874
Operating expenses        
Purchased power and/or fuel 320 206 846 501
Electricity, US Regulated | Pepco Holdings LLC [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 1,568 1,438 4,090 3,632
Operating expenses        
Purchased power and/or fuel 586 431 1,474 1,087
Electricity, US Regulated | Potomac Electric Power Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 730 649 1,930 1,678
Operating expenses        
Purchased power and/or fuel 230 103 566 271
Electricity, US Regulated | Delmarva Power and Light Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 373 337 1,017 899
Operating expenses        
Purchased power and/or fuel 159 103 412 289
Electricity, US Regulated | Atlantic City Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 465 450 1,132 1,055
Operating expenses        
Purchased power and/or fuel 197 225 495 527
Natural Gas, US Regulated        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 224 174 1,348 1,041
Operating expenses        
Purchased power and/or fuel 80 40 524 316
Natural Gas, US Regulated | PECO Energy Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 73 56 487 365
Operating expenses        
Purchased power and/or fuel 26 11 210 119
Natural Gas, US Regulated | Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 114 93 699 549
Operating expenses        
Purchased power and/or fuel 30 20 229 146
Natural Gas, US Regulated | Pepco Holdings LLC [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 38 23 157 118
Operating expenses        
Purchased power and/or fuel 24 9 85 50
Natural Gas, US Regulated | Delmarva Power and Light Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 38 23 157 118
Operating expenses        
Purchased power and/or fuel $ 24 $ 9 $ 85 $ 50
[1] The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect were none for the three and nine months ended September 30, 2022 and 2021, respectively