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Retirement Benefits (All Registrants)
 9 Months Ended
Sep. 30, 2019
Retirement Benefits [Abstract]  
Retirement Benefits (All Registrants) Retirement Benefits (All Registrants)
Effective January 1, 2019, Exelon merged the Exelon Corporation Cash Balance Pension Plan (CBPP) into the Exelon Corporation Retirement Program (ECRP). The merging of the plans is not changing the benefits offered to the plan participants and, thus, has no impact on Exelon's pension obligation. However, beginning in 2019, actuarial losses and gains related to the CBPP and ECRP are being amortized over participants’ average remaining service period of the merged ECRP rather than each individual plan.
Defined Benefit Pension and OPEB
During the first quarter of 2019, Exelon received an updated valuation of its pension and OPEB to reflect actual census data as of January 1, 2019. This valuation resulted in an increase to the pension and OPEB obligations of $75 million and $36 million, respectively. Additionally, accumulated other comprehensive loss increased by $39 million (after-tax) and regulatory assets and liabilities increased by $53 million and decreased by $5 million, respectively.
The majority of the 2019 pension benefit cost for Exelon-sponsored plans is calculated using an expected long-term rate of return on plan assets of 7.00% and a discount rate of 4.31%. The majority of the 2019 OPEB cost is calculated using an expected long-term rate of return on plan assets of 6.67% for funded plans and a discount rate of 4.30%.
A portion of the net periodic benefit cost for all plans is capitalized within the Consolidated Balance Sheets. The following table presents the components of Exelon's net periodic benefit costs, prior to capitalization, for the three and nine months ended September 30, 2019 and 2018.
 
Pension Benefits
Three Months Ended September 30,
 
OPEB
Three Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Components of net periodic benefit cost:
 
 
 
 
 
 
 
Service cost
$
89

 
$
100

 
$
23

 
$
28

Interest cost
221

 
201

 
47

 
43

Expected return on assets
(306
)
 
(312
)
 
(38
)
 
(43
)
Amortization of:
 
 
 
 
 
 
 
Prior service benefit
—

 
—

 
(45
)
 
(47
)
Actuarial loss
104

 
158

 
11

 
18

Settlement charges
7

 
—

 
—

 
—

Contractual termination benefits
1

 
—

 
—

 
—

Net periodic benefit cost
$
116

 
$
147

 
$
(2
)
 
$
(1
)


Pension Benefits
Nine Months Ended September 30,
 
OPEB
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Components of net periodic benefit cost:


 


 


 


Service cost
$
267

 
$
303

 
$
70

 
$
84

Interest cost
663

 
602

 
141

 
131

Expected return on assets
(918
)
 
(939
)
 
(115
)
 
(130
)
Amortization of:
 
 
 
 
 
 
 
Prior service cost (benefit)
—

 
1

 
(134
)
 
(140
)
Actuarial loss
310

 
472

 
34

 
50

Settlement charges
7

 
1

 
—

 
—

Contractual termination benefits
1

 
—

 
—

 
—

Net periodic benefit cost
$
330


$
440


$
(4
)

$
(5
)

The amounts below represent the Registrants' allocated pension and OPEB plan costs. For Exelon, the service cost component is included in Operating and maintenance expense and Property, plant and equipment, net while the non-service cost components are included in Other, net and Regulatory assets. For Generation and the Utility Registrants, the service cost and non-service cost components are included in Operating and maintenance expense and Property, plant and equipment, net in their consolidated financial statements.
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Pension and OPEB Costs
 
2019
 
2018
 
2019
 
2018
Exelon
 
$
114

 
$
145

 
$
326

 
$
435

Generation
 
37

 
50

 
100

 
151

ComEd
 
23

 
45

 
70

 
133

PECO
 
4

 
5

 
9

 
14

BGE
 
16

 
15

 
47

 
44

PHI
 
23

 
17

 
71

 
51

Pepco
 
6

 
3

 
19

 
10

DPL
 
4

 
2

 
11

 
5

ACE
 
4

 
3

 
12

 
10


Defined Contribution Savings Plans
The Registrants participate in various 401(k) defined contribution savings plans that are sponsored by Exelon. The plans are qualified under applicable sections of the IRC and allow employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. All Registrants match a percentage of the employee contributions up to certain limits. The following table presents the matching contributions to the savings plans during the three and nine months ended September 30, 2019 and 2018, respectively.
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Savings Plan Matching Contributions
 
2019
 
2018
 
2019
 
2018
Exelon
 
$
36

 
$
44


$
101


$
126

Generation
 
14

 
23

 
41

 
65

ComEd
 
9

 
8

 
26

 
23

PECO
 
2

 
2

 
7

 
7

BGE
 
4

 
2

 
9

 
5

PHI
 
4

 
4

 
8

 
10

Pepco
 
1

 
1

 
2

 
2

DPL
 
1

 
1

 
2

 
2

ACE
 
1

 
1

 
1

 
2