XML 208 R81.htm IDEA: XBRL DOCUMENT v3.6.0.2
Mergers, Acquisitions and Dispositions - Narrative (Details) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jun. 16, 2016
Dec. 31, 2014
Dec. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Mar. 23, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Jun. 30, 2016
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Sep. 01, 2016
Mar. 24, 2016
Business Acquisition [Line Items]                                        
Business Combination, Contingent Consideration, Asset                                       $ 235,000,000
Payments to Acquire Businesses, Gross                               $ 6,934,000,000 $ 40,000,000 $ 386,000,000    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets               $ 1,441,000,000                        
Business Combination, Integration Related Costs [1],[2]                               143,000,000 87,000,000      
Share price               $ 27.25                        
Other Commitment       $ 513,000,000   $ 137,000,000             $ 137,000,000 $ 513,000,000   513,000,000        
Revenues       7,875,000,000 $ 9,002,000,000 6,910,000,000 $ 7,573,000,000   $ 6,702,000,000 $ 7,401,000,000 $ 6,514,000,000 $ 8,830,000,000       31,360,000,000 29,447,000,000 27,429,000,000    
Net income                               1,204,000,000 2,250,000,000 1,820,000,000    
Merger and integration related costs                               558,000,000   44,000,000    
Payments of Debt Restructuring Costs                                 22,000,000      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent               $ 3,447,000,000                        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets               248,000,000                        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets                                       4,005,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities               1,515,000,000                        
Total net assets               7,142,000,000                        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt               5,636,000,000                        
Other Intangible Assets [Member]                                        
Business Acquisition [Line Items]                                        
Finite-lived Intangible Assets Acquired                               1,500,000,000        
Exelon Generation Co L L C [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Contingent Consideration, Asset                                       163,000,000
Payments to Acquire Businesses, Gross                               293,000,000 40,000,000 386,000,000    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets   $ 390,000,000                               390,000,000    
Business Combination, Integration Related Costs [2]                               37,000,000 24,000,000      
Gain (Loss) on Disposition of Property Plant Equipment       69,000,000   10,000,000             32,000,000              
Proceeds from Sale of Productive Assets $ 37,000,000                                      
Revenues       4,388,000,000 5,035,000,000 3,589,000,000 4,739,000,000   4,294,000,000 4,768,000,000 4,232,000,000 5,840,000,000       17,751,000,000 19,135,000,000 17,393,000,000    
Net income                               558,000,000 1,340,000,000 1,019,000,000    
Merger and integration related costs                               53,000,000   44,000,000    
Payments of Debt Restructuring Costs                                 0      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent   (16,000,000)                               (16,000,000)    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets   50,000,000                               50,000,000    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities   (110,000,000)                               (110,000,000)    
Asset Impairment Charges       23,000,000                                
Baltimore Gas and Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs [2],[3]                               (1,000,000) 5,000,000      
Revenues       812,000,000 812,000,000 680,000,000 929,000,000   746,000,000 725,000,000 628,000,000 1,036,000,000       3,233,000,000 3,135,000,000 3,165,000,000    
Net income                               294,000,000 288,000,000 211,000,000    
Merger and integration related costs                               0   0    
Payments of Debt Restructuring Costs                                 0      
Baltimore Gas and Electric Company [Member] | Regulatory Assets [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs                               6,000,000        
Commonwealth Edison Co [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs [2],[3]                               (6,000,000) 9,000,000      
Other Additional Capital   5,000,000   158,000,000         7,000,000         158,000,000   158,000,000 7,000,000 5,000,000    
Revenues       1,223,000,000 1,497,000,000 1,286,000,000 1,249,000,000   1,196,000,000 1,376,000,000 1,148,000,000 1,185,000,000       5,254,000,000 4,905,000,000 4,564,000,000    
Net income       80,000,000 37,000,000 145,000,000 115,000,000   87,000,000 149,000,000 99,000,000 90,000,000       378,000,000 426,000,000 408,000,000    
Merger and integration related costs                               0   0    
Payments of Debt Restructuring Costs                                 0      
Commonwealth Edison Co [Member] | Regulatory Assets [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs                               8,000,000        
PECO Energy Co [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs [2]                               5,000,000 4,000,000      
Revenues       701,000,000 788,000,000 664,000,000 841,000,000   645,000,000 740,000,000 661,000,000 985,000,000       2,994,000,000 3,032,000,000 3,094,000,000    
Net income                               438,000,000 378,000,000 352,000,000    
Merger and integration related costs                               0   0    
Payments of Debt Restructuring Costs                                 0      
Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs [2],[3]                               28,000,000 3,000,000      
Other Commitment             444,000,000                          
Pepco Holdings LLC [Member] | Regulatory Assets [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs                               16,000,000        
Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross                               33,000,000        
Gain (Loss) on Disposition of Property Plant Equipment                 37,000,000       $ 8,000,000       9,000,000      
Other Commitment       126,000,000                   126,000,000   126,000,000        
Revenues       491,000,000 635,000,000 509,000,000 551,000,000   488,000,000 592,000,000 504,000,000 545,000,000       2,186,000,000 2,129,000,000 2,055,000,000    
Net income                               42,000,000 187,000,000 171,000,000    
Merger and integration related costs                               125,000,000   0    
Payments of Debt Restructuring Costs                                 0      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets                                       1,700,000,000
Potomac Electric Power Company [Member] | Regulatory Assets [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs                               11,000,000        
Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs [2]                               20,000,000 2,000,000      
Gain (Loss) on Disposition of Property Plant Equipment       5,000,000 4,000,000                              
Other Commitment       86,000,000                   86,000,000   86,000,000        
Revenues       303,000,000 331,000,000 281,000,000 362,000,000   296,000,000 314,000,000 271,000,000 421,000,000       1,277,000,000 1,302,000,000 1,282,000,000    
Net income                               (9,000,000) 76,000,000 104,000,000    
Merger and integration related costs                               82,000,000   0    
Payments of Debt Restructuring Costs                                 0      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets                                       1,100,000,000
Delmarva Power and Light Company [Member] | Regulatory Assets [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs                               4,000,000        
Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs [2]                               19,000,000 1,000,000      
Other Commitment       111,000,000                   $ 111,000,000   111,000,000        
Revenues       $ 275,000,000 421,000,000 270,000,000 291,000,000   291,000,000 386,000,000 285,000,000 334,000,000       1,257,000,000 1,295,000,000 1,210,000,000    
Net income                               (42,000,000) 40,000,000 46,000,000    
Merger and integration related costs                               110,000,000   0    
Payments of Debt Restructuring Costs                                 0      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets                                       1,200,000,000
Preferred Stock [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross                               180,000,000        
Deferred Compensation, Share-based Payments [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross [4]                               $ 29,000,000        
Minimum [Member]                                        
Business Acquisition [Line Items]                                        
Ownership interest       20.00%                   20.00%   20.00%        
Maximum [Member]                                        
Business Acquisition [Line Items]                                        
Ownership interest       50.00%                   50.00%   50.00%        
Predecessor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs [3]               29,000,000               $ 19,000,000        
Revenues               1,153,000,000 $ 1,126,000,000 $ 1,336,000,000 $ 1,119,000,000 $ 1,354,000,000         4,935,000,000 4,808,000,000    
Net income               19,000,000                 327,000,000 242,000,000    
Merger and integration related costs               $ 0                   0    
Payments of Debt Restructuring Costs                                 0      
Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Contingent Consideration, Asset       $ 400,000,000 [5]                   $ 400,000,000 [5]   400,000,000 [5]       $ 235,000,000
Business Combination, Integration Related Costs [3]                           69,000,000            
Other Commitment       323,000,000                   323,000,000   323,000,000        
Fresh-Start Adjustment, Increase (Decrease), Deferred Income Tax Liabilities, Noncurrent       35,000,000                   35,000,000   35,000,000        
Revenues       1,078,000,000 1,394,000,000 $ 1,066,000,000 $ 105,000,000 [6]             3,643,000,000            
Net income                           (61,000,000)            
Merger and integration related costs                           317,000,000            
Workforce Development [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       24,000,000                   24,000,000   24,000,000        
Workforce Development [Member] | Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Workforce Development [Member] | Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Workforce Development [Member] | Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Workforce Development [Member] | Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Charitable Contributions [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       50,000,000                   50,000,000   50,000,000        
Charitable Contributions [Member] | Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       28,000,000                   28,000,000   28,000,000        
Charitable Contributions [Member] | Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       12,000,000                   12,000,000   12,000,000        
Charitable Contributions [Member] | Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       10,000,000                   10,000,000   10,000,000        
Charitable Contributions [Member] | Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       50,000,000                   50,000,000   50,000,000        
Energy Efficiency Program [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       111,000,000                   111,000,000   111,000,000        
Energy Efficiency Program [Member] | Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Energy Efficiency Program [Member] | Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Energy Efficiency Program [Member] | Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Energy Efficiency Program [Member] | Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Rate Bill Credits [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       259,000,000                   259,000,000   259,000,000        
Rate Bill Credits [Member] | Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       91,000,000                   91,000,000   91,000,000        
Rate Bill Credits [Member] | Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       67,000,000                   67,000,000   67,000,000        
Rate Bill Credits [Member] | Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       101,000,000                   101,000,000   101,000,000        
Rate Bill Credits [Member] | Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       259,000,000                   259,000,000   259,000,000        
Commitments [Member] | Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Additional Capital       73,000,000                   73,000,000   73,000,000        
Commitments [Member] | Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Additional Capital       46,000,000                   46,000,000   46,000,000        
Commitments [Member] | Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Additional Capital       49,000,000                   49,000,000   49,000,000        
Delivery System Modernization [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       22,000,000                   22,000,000   22,000,000        
Delivery System Modernization [Member] | Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Delivery System Modernization [Member] | Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Delivery System Modernization [Member] | Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Delivery System Modernization [Member] | Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Green Sustainability Fund [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       14,000,000                   14,000,000   14,000,000        
Green Sustainability Fund [Member] | Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Green Sustainability Fund [Member] | Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Green Sustainability Fund [Member] | Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Green Sustainability Fund [Member] | Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Other1 [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       33,000,000                   33,000,000   33,000,000        
Other1 [Member] | Potomac Electric Power Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       7,000,000                   7,000,000   7,000,000        
Other1 [Member] | Delmarva Power and Light Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       7,000,000                   7,000,000   7,000,000        
Other1 [Member] | Atlantic City Electric Company [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       0                   0   0        
Other1 [Member] | Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       14,000,000                   14,000,000   14,000,000        
Delmarva Power and Light Company [Member] | Rate Bill Credits [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       9,000,000                   9,000,000   9,000,000        
Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Revenues                               3,785,000,000        
Net income                               (66,000,000)        
Pepco Holdings LLC [Member] | Preferred Stock [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross                               180,000,000        
Pepco Holdings LLC [Member] | Successor [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross [7]                           62,000,000            
Pepco Holdings LLC [Member] | Successor [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross                           33,000,000            
Pepco Holdings LLC [Member] | Successor [Member] | Deferred Compensation, Share-based Payments [Member] | Pepco Holdings LLC [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross                           29,000,000            
Pepco Holdings LLC [Member] | Commitments [Member]                                        
Business Acquisition [Line Items]                                        
Other Commitment       $ 513,000,000                   $ 513,000,000   513,000,000        
Pepco Holdings [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross                               7,142,000,000        
Intergrys Energy Group Inc [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross   332,000,000                                    
Business Combination, Bargain Purchase, Gain Recognized, Amount   28,000,000                                    
Revenues   386,000,000                                    
Net income   (42,000,000)                                    
Merger and integration related costs                                 $ 5,000,000 7,000,000    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities   $ 108,000,000                               $ 108,000,000    
ConEdision [Member] | Exelon Generation Co L L C [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross                               235,000,000        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets                                     $ 204,000,000  
Payments to Acquire Businesses, Net of Cash Acquired                               22,000,000        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets                                     1,000,000  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets                                     9,000,000  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities                                     65,000,000  
Total net assets                                     $ 257,000,000  
Fitzpatrick [Member]                                        
Business Acquisition [Line Items]                                        
Payments to Acquire Businesses, Gross         $ 110,000,000                              
Fitzpatrick [Member] | Exelon Generation Co L L C [Member]                                        
Business Acquisition [Line Items]                                        
Other Payments to Acquire Businesses                               $ 127,000,000        
Fitzpatrick [Member] | Maximum [Member]                                        
Business Acquisition [Line Items]                                        
Business Combination, Integration Related Costs     $ 200,000,000                       $ 250,000,000          
[1] Reflects costs (benefits) recorded at Exelon related to financing, including mark-to-market activity on forward-starting interest rate swaps.
[2] The costs incurred are classified primarily within Operating and maintenance expense in the Registrants’ respective Consolidated Statements of Operations and Comprehensive Income, with the exception of the financing costs, which are included within Interest expense. Costs do not include merger commitments discussed above.
[3] , includes the reversal of previously incurred acquisition, integration and financing costs of $8 million, $6 million, $11 million, $4 million, and $16 million incurred at ComEd, BGE, Pepco, DPL and PHI, respectively, that have been deferred and recorded as a regulatory asset for anticipated recovery. See Note 3 - Regulatory Matters for more information.
[4] PHI’s unvested time-based restricted stock units and performance-based restricted stock units issued prior to April 29, 2014 were immediately vested and paid in cash upon the close of the merger. PHI’s remaining unvested time-based restricted stock units as of the close of the merger were cancelled. There were no remaining unvested performance-based restricted stock units as of the close of the merger.
[5] Distribution to member includes $235 million of net assets associated with PHI's unregulated business interests and $165 million of cash, each of which were distributed by PHI to Exelon.
[6] Amounts for March 31, 2016 reflect the PHI Successor activity for the period March 24, 2016 to March 31, 2016.
[7] he liabilities assumed include $29 million for PHI stock-based compensation awards and $33 million for a merger related obligation, each assumed by PHI from Exelon. See Note 4 — Mergers, Acquisitions, and Dispositions.