Segment Information (Exelon, Generation, ComEd and PECO)

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Segment Information (Exelon, Generation, ComEd and PECO)

20. Segment Information (Exelon, Generation, ComEd and PECO)

Exelon has five reportable segments, which include Generation's three reportable segments consisting of the Mid-Atlantic, Midwest, and South and West, and ComEd and PECO.

Mid-Atlantic represents Generation's operations primarily in Pennsylvania, New Jersey and Maryland; Midwest includes the operations in Illinois, Indiana, Michigan and Minnesota; and the South and West includes operations primarily in Texas, Georgia, Oklahoma, Kansas, Missouri, Idaho and Oregon. Generation's retail gas, proprietary trading, other revenues and mark-to-market activities have not been allocated to a segment.

Exelon and Generation evaluate the performance of Generation's power marketing activities in Mid-Atlantic, Midwest, and South and West based on revenue net of purchased power and fuel expense. Generation believes that revenue net of purchased power and fuel expense is a useful measurement of operational performance. Revenue net of purchased power and fuel expense is not a presentation defined under GAAP and may not be comparable to other companies' presentations or deemed more useful than the GAAP information provided elsewhere in this report. Generation's operating revenues include all sales to third parties and affiliated sales to ComEd and PECO. Purchased power costs include all costs associated with the procurement of electricity including capacity, energy and ancillary services. Fuel expense includes the fuel costs for internally generated energy and fuel costs associated with tolling agreements. Generation's retail gas, proprietary trading, compensation under the reliability-must-run rate schedule, other revenues and mark-to-market activities are not allocated to a region. Exelon and Generation do not use a measure of total assets in making decisions regarding allocating resources to or assessing the performance of these reportable segments.

ComEd and PECO each represent a single reportable segment; as such, no separate segment information is provided for these Registrants. Exelon evaluates the performance of ComEd and PECO based on net income.

An analysis and reconciliation of the Registrants' reportable segment information to the respective information in the consolidated financial statements follows:

										Intersegment
		Generation (a)		ComEd		PECO		Other		Eliminations			Consolidated
Operating revenues(b):
	2011	$	10,308	$	6,056	$	3,720	$	830	$	(1,990)		$	18,924
	2010		10,025		6,204		5,519		755		(3,859)			18,644
	2009		9,703		5,774		5,311		757		(4,227)			17,318
Intersegment revenues(c):
	2011	$	1,161	$	2	$	5	$	831	$	(1,990)		$	9
	2010		3,102		2		5		756		(3,859)			6
	2009		3,472		2		6		756		(4,227)			9
Depreciation and amortization
	2011	$	570	$	542	$	202	$	21	$	-		$	1,335
	2010		474		516		1,060		25		-			2,075
	2009		333		494		952		55		-			1,834
Operating expenses(b):
	2011	$	7,432	$	5,074	$	3,065	$	863	$	(1,990)		$	14,444
	2010		6,979		5,148		4,858		792		(3,859)			13,918
	2009		6,408		4,931		4,614		840		(4,225)			12,568
Interest expense, net:
	2011	$	170	$	345	$	134	$	77	$	-		$	726
	2010		153		386		193		85		-			817
	2009		113		319		187		112		-			731
Income (loss) before income taxes:
	2011	$	2,827	$	666	$	535	$	(63)	$	(13)		$	3,952
	2010		3,150		694		476		(91)		(8)			4,221
	2009		3,555		603		499		(235)		(3)			4,419
Income taxes:
	2011	$	1,056	$	250	$	146	$	9	$	(4)		$	1,457
	2010		1,178		357		152		(27)		(2)			1,658
	2009		1,433		229		146		(102)		6			1,712
Net income (loss):
	2011	$	1,771	$	416	$	389	$	(72)	$	(9)		$	2,495
	2010		1,972		337		324		(64)		(6)			2,563
	2009		2,122		374		353		(133)		(9)			2,707
Capital expenditures:
	2011	$	2,491	$	1,028	$	481	$	42	$	-		$	4,042
	2010		1,883		962		545		14		(78)	(d)		3,326
	2009		1,977		854		388		54		-			3,273
Total assets:
	2011	$	27,433	$	22,653	$	9,156	$	6,244	$	(10,394)		$	55,092
	2010		24,534		21,652		8,985		6,651		(9,582)			52,240

(a)       Generation represents the three segments, Mid-Atlantic, Midwest, and South and West as shown below. Intersegment revenues for the years ended December 31, 2011, 2010 and 2009 represent Mid-Atlantic revenue from sales to PECO of $508 million, $2,092 million and $2,016 million, respectively, and Midwest revenue from sales to ComEd of $653 million, $1,010million and $1,456million, respectively.

(b)       For the yearsended December 31, 2011, 2010 and 2009, utility taxes of$243million, $205 million and $232 million, respectively, are included in revenues and expenses for ComEd. For the years ended December 31, 2011, 2010 and 2009, utility taxes of $173million, $271 million and $249 million, respectively, are included in revenues and expenses for PECO.

(c)The intersegment profit associated with Generation's sale of AECs to PECO is not eliminated in consolidation due to the recognition of intersegment profit in accordance with regulatory accounting guidance. See Note 2 - Regulatory Matters for additional information on AECs. For Exelon, these amounts are included in operating revenues in the Consolidated Statements of Operations.

(d)       Represents capital projects transferred from BSC to Generation, ComEd and PECO. These projects are shown as capital expenditures at Generation, ComEd and PECO and the capital expenditure is eliminated upon consolidation.

		Mid-Atlantic		Midwest		South and West		Other(b)		Generation
Total revenues(a):
	2011	$	3,967	$	5,344	$	776	$	221	$	10,308
	2010		3,246		5,762		692		325		10,025
	2009		3,195		5,538		714		256		9,703
Revenues net of purchased power and fuel expense:
	2011	$	3,359	$	3,547	$	70	$	(118)	$	6,858
	2010 (c)		2,512		4,081		(131)		100		6,562
	2009		2,578		4,148		(117)		162		6,771

__________

(a)        Includes all sales to third parties and affiliated sales to ComEd and PECO. For the years ended December 31, 2011,2010 and 2009, there were no transactions among Generation's reportable segments which would result in intersegment revenue for Generation.

(b)        Includes retail gas, proprietary trading, other revenue and mark-to-market activities as well as amounts paid related to the Illinois Settlement Legislation.

(c)       In 2010, Other also includes the $57 million lower of cost or market impairment for the ARP SO2 allowances further described in Note 18 - Commitments and Contingencies.