XML 53 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating revenues        
Revenues from alternative revenue programs $ (80) $ (25) $ (98) $ (41)
Operating revenues from affiliates 0 0 0 0
Total operating revenues 8,929 9,403 26,096 27,170
Operating expenses        
Operating and maintenance 2,072 2,346 6,419 7,036
Depreciation and amortization 1,083 1,105 3,237 3,284
Taxes other than income 452 469 1,316 1,342
Total operating expenses 7,559 8,252 22,703 24,036
Gain on sales of assets and businesses (17) (5) 19 55
Operating income 1,353 1,146 3,412 3,189
Other income and (deductions)        
Interest expense, net (403) (387) (1,202) (1,119)
Interest expense to affiliates (6) (6) (19) (19)
Other, net 158 194 837 212
Total other income and (deductions) (251) (199) (384) (926)
Income before income taxes 1,102 947 3,028 2,263
Income taxes 172 137 626 262
Equity in losses of unconsolidated affiliates (170) (10) (182) (22)
Net income 760 800 2,220 1,979
Net income attributable to noncontrolling interests (12) 67 56 121
Net income (loss) attributable to common shareholders 772 733 2,164 1,858
Other comprehensive income (loss), net of income taxes        
Prior service benefit reclassified to periodic benefit cost (16) (17) (49) (50)
Actuarial loss reclassified to periodic benefit cost 37 62 111 186
Pension and non-pension postretirement benefit plan valuation adjustment 6 5 (32) 22
Unrealized (loss) gain on cash flow hedges 0 0 0 12
Unrealized (loss) gain on investments in unconsolidated affiliates 5 0 1 3
Unrealized gain (loss) on foreign currency translation (2) 2 2 (4)
Other comprehensive income 30 52 33 169
Comprehensive income 790 852 2,253 2,148
Comprehensive (loss) income attributable to noncontrolling interests (9) 67 57 123
Comprehensive income attributable to common shareholders/membership interest $ 799 $ 785 $ 2,196 $ 2,025
Average shares of common stock outstanding:        
Basic average shares of common stock outstanding 973 968 972 967
Assumed exercise and/or distributions of stock-based awards 1 2 1 2
Diluted average shares of common stock outstanding [1] 974 970 973 969
Earnings per average common share:        
Basic earnings per average common share $ 0.79 $ 0.76 $ 2.23 $ 1.92
Diluted earnings per average common share $ 0.79 $ 0.76 $ 2.22 $ 1.92
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount   2   3
Exelon Generation Co L L C [Member]        
Operating revenues        
Operating revenues from affiliates $ 275 $ 308 $ 844 $ 979
Total operating revenues 4,774 5,278 14,280 15,368
Operating expenses        
Purchased power and/or fuel from affiliates 3 3 7 10
Operating and maintenance 947 1,218 3,131 3,643
Operating and maintenance from affiliates 140 152 439 483
Depreciation and amortization 407 468 1,221 1,383
Taxes other than income 129 143 394 414
Total operating expenses 4,274 4,961 13,333 14,475
Gain on sales of assets and businesses (18) (6) 15 48
Operating income 482 311 962 941
Other income and (deductions)        
Interest expense, net (101) (93) (310) (278)
Interest expense to affiliates (8) (8) (26) (27)
Other, net 128 179 729 164
Total other income and (deductions) 19 78 393 (141)
Income before income taxes 501 389 1,355 800
Income taxes 87 78 388 110
Equity in losses of unconsolidated affiliates (170) (11) (183) (23)
Net income 244 300 784 667
Net income attributable to noncontrolling interests (13) 66 56 120
Net income attributable to membership interest 257 234 728 547
Other comprehensive income (loss), net of income taxes        
Unrealized (loss) gain on cash flow hedges 0 0 0 12
Unrealized (loss) gain on investments in unconsolidated affiliates 5 0 1 3
Unrealized gain (loss) on foreign currency translation (2) 2 2 (4)
Other comprehensive income 3 2 3 11
Comprehensive income 247 302 787 678
Comprehensive (loss) income attributable to noncontrolling interests (10) 66 57 122
Comprehensive income attributable to common shareholders/membership interest 257 236 730 556
Commonwealth Edison Co [Member]        
Operating revenues        
Revenues from alternative revenue programs (56) (15) (98) (27)
Operating revenues from affiliates 4 4 13 23
Total operating revenues 1,583 1,598 4,342 4,508
Operating expenses        
Purchased power and/or fuel from affiliates 83 123 270 421
Operating and maintenance 267 276 771 785
Operating and maintenance from affiliates 73 61 196 189
Depreciation and amortization 259 237 767 696
Taxes other than income 80 82 228 238
Total operating expenses 1,256 1,275 3,431 3,610
Gain on sales of assets and businesses 1 0 4 5
Operating income 328 323 915 903
Other income and (deductions)        
Interest expense, net (87) (82) (258) (251)
Interest expense to affiliates (4) (3) (10) (10)
Other, net 8 7 27 21
Total other income and (deductions) (83) (78) (241) (240)
Income before income taxes 245 245 674 663
Income taxes 45 52 130 140
Net income 200 193 544 523
Other comprehensive income (loss), net of income taxes        
Comprehensive income 200 193 544 523
PECO Energy Co [Member]        
Operating revenues        
Revenues from alternative revenue programs (11) 1 (16) 2
Operating revenues from affiliates 1 2 4 5
Total operating revenues 778 757 2,333 2,275
Operating expenses        
Purchased power and/or fuel from affiliates 43 34 122 94
Operating and maintenance 182 184 531 572
Operating and maintenance from affiliates 37 35 112 114
Depreciation and amortization 83 75 247 224
Taxes other than income 47 46 126 125
Total operating expenses 595 603 1,783 1,853
Gain on sales of assets and businesses 0 0 0 1
Operating income 183 154 550 423
Other income and (deductions)        
Interest expense, net (30) (28) (91) (85)
Interest expense to affiliates (3) (4) (9) (11)
Other, net 4 2 11 4
Total other income and (deductions) (29) (30) (89) (92)
Income before income taxes 154 124 461 331
Income taxes 14 (2) 51 (5)
Net income 140 126 410 336
Other comprehensive income (loss), net of income taxes        
Comprehensive income 140 126 410 336
Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (5) (6) 11 (23)
Operating revenues from affiliates 6 6 18 18
Total operating revenues 703 731 2,327 2,369
Operating expenses        
Purchased power and/or fuel from affiliates 64 68 196 195
Operating and maintenance 157 144 451 462
Operating and maintenance from affiliates 39 38 118 116
Depreciation and amortization 116 110 368 358
Taxes other than income 65 64 195 188
Total operating expenses 612 628 1,936 2,005
Gain on sales of assets and businesses 0 0 0 1
Operating income 91 103 391 365
Other income and (deductions)        
Interest expense, net (31) (27) (89) (78)
Other, net 7 5 18 14
Total other income and (deductions) (24) (22) (71) (64)
Income before income taxes 67 81 320 301
Income taxes 12 18 59 59
Net income 55 63 261 242
Other comprehensive income (loss), net of income taxes        
Comprehensive income 55 63 261 242
Pepco Holdings LLC [Member]        
Operating revenues        
Revenues from alternative revenue programs (9) (5) 4 7
Operating revenues from affiliates 4 3 11 11
Total operating revenues 1,380 1,361 3,700 3,688
Operating expenses        
Purchased power and/or fuel from affiliates 83 82 254 268
Operating and maintenance 254 261 706 751
Operating and maintenance from affiliates 36 31 105 106
Depreciation and amortization 193 192 562 555
Taxes other than income 122 123 342 343
Total operating expenses 1,124 1,116 3,106 3,165
Operating income 256 245 594 523
Other income and (deductions)        
Interest expense, net (66) (65) (197) (193)
Other, net 13 11 39 33
Total other income and (deductions) (53) (54) (158) (160)
Income before income taxes 203 191 436 363
Income taxes 14 4 25 28
Equity in losses of unconsolidated affiliates 0 0 1 1
Net income 189 187 412 336
Other comprehensive income (loss), net of income taxes        
Comprehensive income attributable to common shareholders/membership interest 189 187 412 336
Potomac Electric Power Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (3) (4) 10 6
Operating revenues from affiliates 2 2 5 5
Total operating revenues 642 628 1,748 1,708
Operating expenses        
Purchased power and/or fuel from affiliates 65 46 188 143
Operating and maintenance 85 84 208 216
Operating and maintenance from affiliates 50 52 156 167
Depreciation and amortization 95 99 281 286
Taxes other than income 104 104 286 288
Total operating expenses 515 516 1,444 1,454
Operating income 127 112 304 254
Other income and (deductions)        
Interest expense, net (33) (32) (100) (96)
Other, net 9 7 22 23
Total other income and (deductions) (24) (25) (78) (73)
Income before income taxes 103 87 226 181
Income taxes 5 (2) 9 7
Net income 98 89 217 174
Other comprehensive income (loss), net of income taxes        
Comprehensive income 98 89 217 174
Delmarva Power and Light Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (6) 0 (6) 5
Operating revenues from affiliates 1 2 5 6
Total operating revenues 319 328 987 1,001
Operating expenses        
Purchased power and/or fuel from affiliates 14 26 50 103
Operating and maintenance 43 44 127 137
Operating and maintenance from affiliates 37 38 113 119
Depreciation and amortization 46 47 138 135
Taxes other than income 15 15 43 43
Total operating expenses 268 277 820 859
Operating income 51 51 167 142
Other income and (deductions)        
Interest expense, net (15) (15) (45) (42)
Other, net 2 2 10 7
Total other income and (deductions) (13) (13) (35) (35)
Income before income taxes 38 38 132 107
Income taxes 5 5 16 17
Net income 33 33 116 90
Other comprehensive income (loss), net of income taxes        
Comprehensive income 33 33 116 90
Atlantic City Electric Company [Member]        
Operating revenues        
Revenues from alternative revenue programs 1 (1) 0 (4)
Operating revenues from affiliates 1 1 2 2
Total operating revenues 419 406 966 981
Operating expenses        
Purchased power and/or fuel from affiliates 3 10 16 21
Operating and maintenance 54 52 142 146
Operating and maintenance from affiliates 32 33 99 104
Depreciation and amortization 43 38 114 107
Taxes other than income 1 1 4 4
Total operating expenses 340 322 838 847
Operating income 79 84 128 134
Other income and (deductions)        
Interest expense, net (15) (16) (44) (48)
Other, net 1 1 5 2
Total other income and (deductions) (14) (15) (39) (46)
Income before income taxes 65 69 89 88
Income taxes 2 8 2 12
Net income 63 61 87 76
Other comprehensive income (loss), net of income taxes        
Comprehensive income 63 61 87 76
Generation commodities and services        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 4,499 4,971 13,436 14,387
Operating expenses        
Purchased power and/or fuel 2,648 2,977 8,142 8,542
Generation commodities and services | Exelon Generation Co L L C [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 4,499 4,970 13,436 14,389
Operating expenses        
Purchased power and/or fuel 2,648 2,977 8,141 8,542
Rate-regulated utility revenues        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 4,510 4,457 12,758 12,824
Operating expenses        
Purchased power and/or fuel 1,304 1,355 3,589 3,832
Electricity, US Regulated | Commonwealth Edison Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 1,635 1,609 4,427 4,512
Operating expenses        
Purchased power and/or fuel 494 496 1,199 1,281
Electricity, US Regulated | PECO Energy Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 726 697 1,914 1,886
Operating expenses        
Purchased power and/or fuel 185 215 461 576
Electricity, US Regulated | Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 623 652 1,814 1,847
Operating expenses        
Purchased power and/or fuel 159 183 480 510
Electricity, US Regulated | Pepco Holdings LLC [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 1,365 1,340 3,570 3,541
Operating expenses        
Purchased power and/or fuel 428 415 1,086 1,077
Electricity, US Regulated | Potomac Electric Power Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 643 630 1,733 1,697
Operating expenses        
Purchased power and/or fuel 116 131 325 354
Electricity, US Regulated | Delmarva Power and Light Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 304 302 872 861
Operating expenses        
Purchased power and/or fuel 105 96 298 258
Electricity, US Regulated | Atlantic City Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 417 406 964 983
Operating expenses        
Purchased power and/or fuel 207 188 463 465
Natural Gas, US Regulated | PECO Energy Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 62 57 431 382
Operating expenses        
Purchased power and/or fuel 18 14 184 148
Natural Gas, US Regulated | Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 79 79 484 527
Operating expenses        
Purchased power and/or fuel 12 21 128 176
Natural Gas, US Regulated | Pepco Holdings LLC [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 20 23 115 129
Operating expenses        
Purchased power and/or fuel 8 12 51 65
Natural Gas, US Regulated | Delmarva Power and Light Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 20 24 116 129
Operating expenses        
Purchased power and/or fuel $ 8 $ 11 $ 51 $ 64
[1]
The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was immaterial for the three and nine months ended September 30, 2019 and approximately 2 million and 3 million for the three and nine months ended September 30, 2018, respectively.