Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

PHI Merger Commitments

The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligations for Exelon, PHI, Pepco, DPL and ACE as of March 31, 2020:

Description	Exelon		PHI		Pepco		DPL		ACE
Total commitments	$	513	$	320	$	120	$	89	$	111
Remaining commitments(a)	95		75		62		8		5

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(a)

Remaining commitments extend through 2026 and include rate credits, energy efficiency programs and delivery system modernization.

Commercial Commitments

The Registrants’ commercial commitments as of March 31, 2020, representing commitments potentially triggered by future events were as follows:

			Expiration within
	Total		2020		2021		2022		2023		2024		2025 and beyond
Exelon
Letters of credit	$	1,464	$	1,080	$	384	$	—	$	—	$	—	$	—
Surety bonds(a)	849		698		151		—		—		—		—
Financing trust guarantees	378		—		—		—		—		—		378
Guaranteed lease residual values(b)	27		1		2		4		3		12		5
Total commercial commitments	$	2,718	$	1,779	$	537	$	4	$	3	$	12	$	383
Generation
Letters of credit	$	1,449	$	1,071	$	378	$	—	$	—	$	—	$	—
Surety bonds(a)	685		591		94		—		—		—		—
Total commercial commitments	$	2,134	$	1,662	$	472	$	—	$	—	$	—	$	—
ComEd
Letters of credit	$	7	$	4	$	3	$	—	$	—	$	—	$	—
Surety bonds(a)	15		11		4		—		—		—		—
Financing trust guarantees	200		—		—		—		—		—		200
Total commercial commitments	$	222	$	15	$	7	$	—	$	—	$	—	$	200
PECO
Surety bonds(a)	$	9	$	8	$	1	$	—	$	—	$	—	$	—
Financing trust guarantees	178		—		—		—		—		—		178
Total commercial commitments	$	187	$	8	$	1	$	—	$	—	$	—	$	178
BGE
Letters of credit	$	2	$	2	$	—	$	—	$	—	$	—	$	—
Surety bonds(a)	17		16		1		—		—		—		—
Total commercial commitments	$	19	$	18	$	1	$	—	$	—	$	—	$	—
PHI
Surety bonds(a)	$	21	$	20	$	1	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	27		1		2		4		3		12		5
Total commercial commitments	$	48	$	21	$	3	$	4	$	3	$	12	$	5
Pepco
Surety bonds(a)	$	14	$	14	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	9		—		1		1		1		4		2
Total commercial commitments	$	23	$	14	$	1	$	1	$	1	$	4	$	2
DPL
Surety bonds(a)	$	4	$	3	$	1	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	11		—		1		2		1		5		2
Total commercial commitments	$	15	$	3	$	2	$	2	$	1	$	5	$	2
ACE
Surety bonds(a)	$	3	$	3	$	—	$	—	$	—	$	—	$	—
Guaranteed lease residual values(b)	7		1		—		1		1		3		1
Total commercial commitments	$	10	$	4	$	—	$	1	$	1	$	3	$	1

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(a) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.

(b)

Represents the maximum potential obligation in the event that the fair value of certain leased equipment and fleet vehicles is zero at the end of the maximum lease term. The lease term associated with these assets ranges from 1 to 8 years. The maximum potential obligation at the end of the minimum lease term would be $72 million guaranteed by Exelon and PHI, of which $24 million, $30 million and $18 million is guaranteed by Pepco, DPL and ACE, respectively. Historically, payments under the guarantees have not been made and PHI believes the likelihood of payments being required under the guarantees is remote.

Accrued environmental liabilities

As of March 31, 2020 and December 31, 2019, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Other current liabilities and Other deferred credits and other liabilities within their respective Consolidated Balance Sheets:

	March 31, 2020				December 31, 2019
	Total environmental investigation and remediation liabilities		Portion of total related to MGP investigation and remediation		Total environmental investigation and remediation liabilities		Portion of total related to MGP investigation and remediation
Exelon	$	472	$	317	$	478	$	320
Generation	104		—		105		—
ComEd	301		300		304		303
PECO	19		17		19		17
BGE	2		—		2		—
PHI	46		—		48		—
Pepco	44		—		46		—
DPL	1		—		1		—
ACE	1		—		1		—