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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 1,457 $ 587
Restricted cash and cash equivalents 414 358
Accounts receivable    
Customer accounts receivable 4,320 4,835
Customer allowance for credit losses (278) (243)
Customer accounts receivable, net 4,042 4,592
Other accounts receivable 1,391 1,631
Other allowance for credit losses (52) (48)
Other accounts receivable, net 1,339 1,583
Mark-to-market derivative assets, current 656 679
Unamortized energy contract assets, current 47 47
Inventories, net    
Fossil fuel and emission allowances 224 312
Materials and supplies 1,463 1,456
Regulatory assets, current 1,205 1,170
Other 1,629 1,253
Total current assets 12,476 12,037
Property, plant and equipment, net 81,017 80,233
Deferred debits and other assets    
Regulatory assets, noncurrent 8,360 8,335
Nuclear decommissioning trust funds 11,611 13,190
Investments 418 464
Goodwill 6,677 6,677
Mark-to-market derivative assets, noncurrent 625 508
Unamortized energy contract assets, noncurrent 329 336
Other 3,164 3,197
Total deferred debits and other assets 31,184 32,707
Total assets [1] 124,677 124,977
Current Liabilities    
Short-term borrowings 1,979 1,370
Long-term debt due within one year 2,848 4,710
Accounts payable 2,883 3,560
Accrued expenses 1,535 1,981
Payable to affiliates, current 5 5
Regulatory liabilities, current 412 406
Mark-to-market derivative liabilities, current 264 247
Unamortized energy contract liabilities, current 121 132
Renewable energy credit obligation 451 443
Other 1,276 1,331
Total current liabilities 11,774 14,185
Long-term debt 34,808 31,329
Long-term debt to financing trusts 390 390
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 12,242 12,351
Asset retirement obligations, noncurrent 10,951 10,846
Pension obligations 3,705 4,247
Non-pension postretirement benefit obligations 2,112 2,076
Spent nuclear fuel obligation 1,204 1,199
Regulatory liabilities, noncurrent 9,105 9,986
Mark-to-market derivative liabilities, noncurrent 436 393
Unamortized energy contract liabilities, noncurrent 317 338
Other 3,017 3,064
Total deferred credits and other liabilities 43,089 44,500
Total liabilities [1] 90,061 90,404
Commitments and contingencies
Shareholders' equity    
Common stock 19,303 19,274
Treasury stock, at cost (123) (123)
Retained earnings/Undistributed earnings 16,475 16,267
Accumulated other comprehensive loss, net (3,173) (3,194)
Total shareholders’ equity 32,482 32,224
Member’s equity    
Noncontrolling Interests 2,134 2,349
Total equity 34,616 34,573
Total liabilities and shareholders’ equity 124,677 124,977
Variable Interest Entity, Consolidated, Assets, Pledged 9,056 9,532
Variable Interest Entity, Consolidated, Liabilities, No Recourse 3,412 3,473
Exelon Generation Co L L C [Member]    
Current Assets    
Cash and cash equivalents 821 303
Restricted cash and cash equivalents 150 146
Accounts receivable    
Customer accounts receivable 2,496 2,973
Customer allowance for credit losses (81) (80)
Customer accounts receivable, net 2,415 2,893
Other accounts receivable 353 619
Other accounts receivable, net 353 619
Mark-to-market derivative assets, current 650 675
Receivable from affiliates, current 167 190
Receivable from Exelon intercompany pool 254 0
Unamortized energy contract assets, current 47 47
Inventories, net    
Fossil fuel and emission allowances 186 236
Materials and supplies 1,038 1,026
Other 1,243 941
Total current assets 7,324 7,076
Property, plant and equipment, net 24,169 24,193
Deferred debits and other assets    
Nuclear decommissioning trust funds 11,611 13,190
Investments 189 235
Goodwill 47 47
Mark-to-market derivative assets, noncurrent 625 508
Prepaid pension asset 1,638 1,438
Unamortized energy contract assets, noncurrent 328 336
Deferred income taxes 10 12
Other 1,941 1,960
Total deferred debits and other assets 16,389 17,726
Total assets [2] 47,882 48,995
Current Liabilities    
Short-term borrowings 1,095 320
Long-term debt due within one year 1,623 2,624
Long-term debt to affiliates due within one year 556 558
Accounts payable 1,195 1,692
Accrued expenses 603 786
Payable to affiliates, current 128 117
Mark-to-market derivative liabilities, current 229 215
Unamortized energy contract liabilities, current 12 17
Renewable energy credit obligation 450 443
Other 434 517
Total current liabilities 6,325 7,289
Long-term debt 5,943 4,464
Long-term debt to affiliates 327 328
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 3,424 3,752
Asset retirement obligations, noncurrent 10,709 10,603
Non-pension postretirement benefit obligations 873 878
Spent nuclear fuel obligation 1,204 1,199
Payables to affiliates, noncurrent 2,302 3,103
Mark-to-market derivative liabilities, noncurrent 158 123
Unamortized energy contract liabilities, noncurrent 10 11
Other 1,424 1,415
Total deferred credits and other liabilities 20,104 21,084
Total liabilities [2] 32,699 33,165
Commitments and contingencies
Shareholders' equity    
Retained earnings/Undistributed earnings 3,527 3,950
Accumulated other comprehensive loss, net (41) (32)
Member’s equity    
Membership interest 9,568 9,566
Total members' equity 13,054 13,484
Noncontrolling Interests 2,129 2,346
Total equity 15,183 15,830
Total liabilities and shareholders’ equity 47,882 48,995
Variable Interest Entity, Consolidated, Assets, Pledged 9,034 9,512
Variable Interest Entity, Consolidated, Liabilities, No Recourse 3,369 3,429
Commonwealth Edison Co [Member]    
Current Assets    
Cash and cash equivalents 514 90
Restricted cash and cash equivalents 211 150
Accounts receivable    
Customer accounts receivable 600 604
Customer allowance for credit losses (71) (59)
Customer accounts receivable, net 529 545
Other accounts receivable 307 306
Other allowance for credit losses (22) (20)
Other accounts receivable, net 285 286
Receivable from affiliates, current 18 28
Inventories, net    
Inventories, net 161 159
Regulatory assets, current 290 281
Other 51 44
Total current assets 2,059 1,583
Property, plant and equipment, net 23,390 23,107
Deferred debits and other assets    
Regulatory assets, noncurrent 1,567 1,480
Investments 6 6
Goodwill 2,625 2,625
Receivable from affiliates, noncurrent 2,040 2,622
Prepaid pension asset 1,108 995
Other 351 347
Total deferred debits and other assets 7,697 8,075
Total assets 33,146 32,765
Current Liabilities    
Short-term borrowings 0 130
Long-term debt due within one year 500 500
Accounts payable 503 527
Accrued expenses 258 385
Payable to affiliates, current 87 103
Customer deposits 118 118
Regulatory liabilities, current 186 200
Mark-to-market derivative liabilities, current 36 32
Other 117 122
Total current liabilities 1,805 2,117
Long-term debt 8,978 7,991
Long-term debt to financing trusts 205 205
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 4,094 4,021
Asset retirement obligations, noncurrent 128 128
Non-pension postretirement benefit obligations 178 180
Regulatory liabilities, noncurrent 5,960 6,542
Mark-to-market derivative liabilities, noncurrent 278 269
Other 675 635
Total deferred credits and other liabilities 11,313 11,775
Total liabilities 22,301 22,088
Commitments and contingencies
Shareholders' equity    
Common stock 1,588 1,588
Other paid-in capital 7,697 7,572
Retained deficit unappropriated (1,639) (1,639)
Retained earnings appropriated 3,199 3,156
Total shareholders’ equity 10,845 10,677
Member’s equity    
Total liabilities and shareholders’ equity 33,146 32,765
PECO Energy Co [Member]    
Current Assets    
Cash and cash equivalents 31 21
Restricted cash and cash equivalents 7 6
Accounts receivable    
Customer accounts receivable 394 412
Customer allowance for credit losses (66) (55)
Customer accounts receivable, net 328 357
Other accounts receivable 128 145
Other allowance for credit losses (7) (7)
Other accounts receivable, net 121 138
Receivable from affiliates, current 0 1
Receivable from Exelon intercompany pool 90 68
Inventories, net    
Fossil fuel and emission allowances 21 36
Materials and supplies 35 35
Prepaid utility taxes 101 0
Regulatory assets, current 35 41
Other 20 19
Total current assets 789 722
Property, plant and equipment, net 9,462 9,292
Deferred debits and other assets    
Regulatory assets, noncurrent 588 554
Investments 25 27
Receivable from affiliates, noncurrent 261 480
Prepaid pension asset 380 365
Other 30 29
Total deferred debits and other assets 1,284 1,455
Total assets 11,535 11,469
Current Liabilities    
Accounts payable 357 387
Accrued expenses 76 101
Payable to affiliates, current 51 55
Customer deposits 70 69
Regulatory liabilities, current 104 91
Other 27 19
Total current liabilities 685 722
Long-term debt 3,406 3,405
Long-term debt to financing trusts 184 184
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 2,119 2,080
Asset retirement obligations, noncurrent 26 28
Non-pension postretirement benefit obligations 288 288
Regulatory liabilities, noncurrent 290 510
Other 73 74
Total deferred credits and other liabilities 2,796 2,980
Total liabilities 7,071 7,291
Commitments and contingencies
Shareholders' equity    
Common stock 2,997 2,766
Retained earnings/Undistributed earnings 1,467 1,412
Total shareholders’ equity 4,464 4,178
Member’s equity    
Total liabilities and shareholders’ equity 11,535 11,469
Baltimore Gas and Electric Company [Member]    
Current Assets    
Cash and cash equivalents 11 24
Restricted cash and cash equivalents 1 1
Accounts receivable    
Customer accounts receivable 358 329
Customer allowance for credit losses (18) (12)
Customer accounts receivable, net 340 317
Other accounts receivable 143 152
Other allowance for credit losses (5) (5)
Other accounts receivable, net 138 147
Receivable from affiliates, current 1 1
Inventories, net    
Fossil fuel and emission allowances 13 30
Materials and supplies 43 46
Prepaid utility taxes 40 78
Regulatory assets, current 201 183
Other 5 6
Total current assets 793 833
Property, plant and equipment, net 9,147 8,990
Deferred debits and other assets    
Regulatory assets, noncurrent 453 454
Investments 7 7
Prepaid pension asset 308 264
Other 81 86
Total deferred debits and other assets 849 811
Total assets 10,789 10,634
Current Liabilities    
Short-term borrowings 141 76
Accounts payable 224 243
Accrued expenses 127 152
Payable to affiliates, current 52 66
Customer deposits 119 120
Regulatory liabilities, current 39 33
Other 78 63
Total current liabilities 780 753
Long-term debt 3,271 3,270
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,457 1,396
Asset retirement obligations, noncurrent 22 22
Non-pension postretirement benefit obligations 194 199
Regulatory liabilities, noncurrent 1,163 1,195
Other 100 116
Total deferred credits and other liabilities 2,936 2,928
Total liabilities 6,987 6,951
Commitments and contingencies
Shareholders' equity    
Common stock 1,907 1,907
Retained earnings/Undistributed earnings 1,895 1,776
Total shareholders’ equity 3,802 3,683
Member’s equity    
Total liabilities and shareholders’ equity 10,789 10,634
Pepco Holdings LLC [Member]    
Current Assets    
Cash and cash equivalents 49 131
Restricted cash and cash equivalents 37 36
Accounts receivable    
Customer accounts receivable 471 516
Customer allowance for credit losses (42) (37)
Customer accounts receivable, net 429 479
Other accounts receivable 197 190
Other allowance for credit losses (18) (16)
Other accounts receivable, net 179 174
Receivable from affiliates, current 1 1
Inventories, net    
Fossil fuel and emission allowances 3 8
Materials and supplies 187 190
Regulatory assets, current 427 412
Other 57 49
Total current assets 1,369 1,480
Property, plant and equipment, net 14,491 14,296
Deferred debits and other assets    
Regulatory assets, noncurrent 2,012 2,061
Investments 135 135
Goodwill 4,005 4,005
Prepaid pension asset 412 406
Deferred income taxes 13 13
Other 316 323
Total deferred debits and other assets 6,893 6,943
Total assets [3] 22,753 22,719
Current Liabilities    
Short-term borrowings 108 208
Long-term debt due within one year 144 103
Accounts payable 423 462
Accrued expenses 280 296
Payable to affiliates, current 82 98
Borrowings from Exelon/PHI intercompany money pool 19 12
Customer deposits 117 117
Regulatory liabilities, current 70 70
Unamortized energy contract liabilities, current 109 115
Other 129 131
Total current liabilities 1,481 1,612
Long-term debt 6,564 6,460
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 2,302 2,278
Asset retirement obligations, noncurrent 57 57
Non-pension postretirement benefit obligations 89 93
Regulatory liabilities, noncurrent 1,675 1,707
Unamortized energy contract liabilities, noncurrent 307 327
Other 552 577
Total deferred credits and other liabilities 4,982 5,039
Total liabilities [3] 13,027 13,111
Commitments and contingencies
Shareholders' equity    
Retained earnings/Undistributed earnings (36) (10)
Member’s equity    
Membership interest 9,762 9,618
Total members' equity 9,726 9,608
Total equity 9,726 9,608
Total liabilities and shareholders’ equity 22,753 22,719
Variable Interest Entity, Consolidated, Assets, Pledged 22 20
Variable Interest Entity, Consolidated, Liabilities, No Recourse 43 44
Potomac Electric Power Company [Member]    
Current Assets    
Cash and cash equivalents 18 30
Restricted cash and cash equivalents 33 33
Accounts receivable    
Customer accounts receivable 225 244
Customer allowance for credit losses (15) (13)
Customer accounts receivable, net 210 231
Other accounts receivable 102 98
Other allowance for credit losses (8) (7)
Other accounts receivable, net 94 91
Receivable from Exelon intercompany pool 114 0
Inventories, net    
Inventories, net 109 112
Regulatory assets, current 198 188
Other 24 11
Total current assets 800 696
Property, plant and equipment, net 7,002 6,909
Deferred debits and other assets    
Regulatory assets, noncurrent 567 584
Investments 111 110
Prepaid pension asset 293 296
Other 64 66
Total deferred debits and other assets 1,035 1,056
Total assets 8,837 8,661
Current Liabilities    
Short-term borrowings 0 82
Long-term debt due within one year 3 2
Accounts payable 171 195
Accrued expenses 151 156
Payable to affiliates, current 55 66
Customer deposits 57 57
Regulatory liabilities, current 12 8
Merger related obligation 39 39
Current portion of DC PLUG obligation 30 30
Other 22 22
Total current liabilities 540 657
Long-term debt 3,012 2,862
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,143 1,131
Asset retirement obligations, noncurrent 41 41
Non-pension postretirement benefit obligations 16 20
Regulatory liabilities, noncurrent 731 746
Other 286 297
Total deferred credits and other liabilities 2,217 2,235
Total liabilities 5,769 5,754
Commitments and contingencies
Shareholders' equity    
Common stock 1,933 1,796
Retained earnings/Undistributed earnings 1,135 1,111
Total shareholders’ equity 3,068 2,907
Member’s equity    
Total liabilities and shareholders’ equity 8,837 8,661
Delmarva Power and Light Company [Member]    
Current Assets    
Cash and cash equivalents 7 13
Restricted cash and cash equivalents 0 0
Accounts receivable    
Customer accounts receivable 139 152
Customer allowance for credit losses (13) (11)
Customer accounts receivable, net 126 141
Other accounts receivable 40 42
Other allowance for credit losses (4) (4)
Other accounts receivable, net 36 38
Receivable from affiliates, current 1 0
Inventories, net    
Fossil fuel and emission allowances 3 8
Materials and supplies 46 44
Prepaid utility taxes 9 18
Regulatory assets, current 50 52
Renewable Energy Credits, Current 16 9
Other 2 2
Total current assets 296 325
Property, plant and equipment, net 4,088 4,035
Deferred debits and other assets    
Regulatory assets, noncurrent 221 222
Goodwill 8 8
Prepaid pension asset 169 171
Other 67 69
Total deferred debits and other assets 465 470
Total assets 4,849 4,830
Current Liabilities    
Short-term borrowings 54 56
Long-term debt due within one year 81 80
Accounts payable 98 112
Accrued expenses 62 46
Payable to affiliates, current 21 32
Borrowings from Exelon/PHI intercompany money pool 37 0
Customer deposits 35 36
Regulatory liabilities, current 35 37
Other 14 15
Total current liabilities 437 414
Long-term debt 1,494 1,487
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 665 655
Non-pension postretirement benefit obligations 15 16
Regulatory liabilities, noncurrent 561 574
Other 98 104
Total deferred credits and other liabilities 1,339 1,349
Total liabilities 3,270 3,250
Commitments and contingencies
Shareholders' equity    
Common stock 983 977
Retained earnings/Undistributed earnings 596 603
Total shareholders’ equity 1,579 1,580
Member’s equity    
Total liabilities and shareholders’ equity 4,849 4,830
Atlantic City Electric Company [Member]    
Current Assets    
Cash and cash equivalents 8 12
Restricted cash and cash equivalents 3 2
Accounts receivable    
Customer accounts receivable 106 121
Customer allowance for credit losses (14) (13)
Customer accounts receivable, net 92 108
Other accounts receivable 54 53
Other allowance for credit losses (6) (5)
Other accounts receivable, net 48 48
Receivable from affiliates, current 4 4
Inventories, net    
Inventories, net 32 34
Regulatory assets, current 71 57
Other 3 5
Total current assets 261 270
Property, plant and equipment, net 3,249 3,190
Deferred debits and other assets    
Regulatory assets, noncurrent 366 368
Prepaid pension asset 51 52
Other 51 53
Total deferred debits and other assets 468 473
Total assets [4] 3,978 3,933
Current Liabilities    
Short-term borrowings 54 70
Long-term debt due within one year 60 20
Accounts payable 145 144
Accrued expenses 40 42
Payable to affiliates, current 27 25
Borrowings from Exelon/PHI intercompany money pool 77 0
Customer deposits 25 25
Regulatory liabilities, current 24 25
Other 8 9
Total current liabilities 460 360
Long-term debt 1,265 1,307
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 580 577
Non-pension postretirement benefit obligations 17 17
Regulatory liabilities, noncurrent 352 357
Other 37 39
Total deferred credits and other liabilities 986 990
Total liabilities [4] 2,711 2,657
Commitments and contingencies
Shareholders' equity    
Common stock 1,155 1,154
Retained earnings/Undistributed earnings 112 122
Total shareholders’ equity 1,267 1,276
Member’s equity    
Total liabilities and shareholders’ equity 3,978 3,933
Variable Interest Entity, Consolidated, Assets, Pledged 15 17
Variable Interest Entity, Consolidated, Liabilities, No Recourse $ 36 $ 41
[1]
Exelon’s consolidated assets include $9,056 million and $9,532 million at March 31, 2020 and December 31, 2019, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Exelon’s consolidated liabilities include $3,412 million and $3,473 million at March 31, 2020 and December 31, 2019, respectively, of certain VIEs for which the VIE creditors do not have recourse to Exelon. See Note 16Variable Interest Entities for additional information.
[2]
Generation’s consolidated assets include $9,034 million and $9,512 million at March 31, 2020 and December 31, 2019, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Generation’s consolidated liabilities include $3,369 million and $3,429 million at March 31, 2020 and December 31, 2019, respectively, of certain VIEs for which the VIE creditors do not have recourse to Generation. See Note 16Variable Interest Entities for additional information.
[3]
PHI’s consolidated total assets include $22 million and $20 million at March 31, 2020 and December 31, 2019, respectively, of PHI's consolidated VIE that can only be used to settle the liabilities of the VIE. PHI’s consolidated total liabilities include $43 million and $44 million at March 31, 2020 and December 31, 2019, respectively, of PHI's consolidated VIE for which the VIE creditors do not have recourse to PHI. See Note 16Variable Interest Entities for additional information.
[4]
ACE’s consolidated total assets include $15 million and $17 million at March 31, 2020 and December 31, 2019, respectively, of ACE's consolidated VIE that can only be used to settle the liabilities of the VIE. ACE’s consolidated total liabilities include $36 million and $41 million at March 31, 2020 and December 31, 2019, respectively, of ACE's consolidated VIE for which the VIE creditors do not have recourse to ACE. See Note 16Variable Interest Entities for additional information.