Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2020

VIE - Assets and Liabilities of VIEs which Creditors or Beneficiaries have no Recourse

The table below shows the carrying amounts and classification of the consolidated VIEs’ assets and liabilities included in the consolidated financial statements of Exelon, Generation, PHI and ACE as of March 31, 2020 and December 31, 2019. The assets, except as noted in the footnotes to the table below, can only be used to settle obligations of the VIEs. The liabilities, except as noted in the footnote to the table below, are such that creditors, or beneficiaries, do not have recourse to the general credit of Exelon, Generation, PHI and ACE.



	March 31, 2020								December 31, 2019
	Exelon		Generation		PHI ^(a)		ACE		Exelon		Generation		PHI ^(a)		ACE
Cash and cash equivalents	$	51	$	51	$	—	$	—	$	163	$	163	$	—	$	—
Restricted cash and cash equivalents	84		81		3		3		88		85		3		3
Accounts receivable
Customer	131		131		—		—		151		151		—		—
Other	44		44		—		—		39		39		—		—
Unamortized energy contract assets ^(b)	22		22		—		—		23		23		—		—
Inventories, net
Materials and supplies	231		231		—		—		227		227		—		—
Other current assets	42		38		4		—		32		31		1		—
Total current assets	605		598		7		3		723		719		4		3
Property, plant and equipment, net ^(c)	6,017		6,017		—		—		6,022		6,022		—		—
Nuclear decommissioning trust funds	2,405		2,405		—		—		2,741		2,741		—		—
Unamortized energy contract assets ^(b)	264		264		—		—		250		250		—		—
Other noncurrent assets	71		56		15		12		89		73		16		14
Total noncurrent assets	8,757		8,742		15		12		9,102		9,086		16		14
Total assets	$	9,362	$	9,340	$	22	$	15	$	9,825	$	9,805	$	20	$	17
Long-term debt due within one year	$	543	$	519	$	24	$	20	$	544	$	523	$	21	$	20
Accounts payable	121		121		—		—		106		106		—		—
Accrued expenses	46		46		—		—		70		70		—		—
Unamortized energy contract liabilities	7		7		—		—		8		8		—		—
Other current liabilities	3		3		—		—		3		3		—		—
Total current liabilities	720		696		24		20		731		710		21		20
Long-term debt	502		483		19		16		527		504		23		21
Asset retirement obligations ^(d)	2,156		2,156		—		—		2,128		2,128		—		—
Unamortized energy contract liabilities	1		1		—		—		1		1		—		—
Other noncurrent liabilities	37		37		—		—		89		89		—		—
Total noncurrent liabilities	2,696		2,677		19		16		2,745		2,722		23		21
Total liabilities	$	3,416	$	3,373	$	43	$	36	$	3,476	$	3,432	$	44	$	41

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(a)	Includes certain purchase accounting adjustments not pushed down to the ACE standalone entity.


(b)	These are unrestricted assets to Exelon and Generation.


(c)	Exelon’s and Generation’s balances include unrestricted assets of $20 million as of March 31, 2020 and December 31, 2019.

(d)

Exelon’s and Generation’s balances include liabilities with recourse of $4 million and $3 million as of March 31, 2020 and December 31, 2019, respectively.

VIE - Summary of Unconsolidated VIEs

The following table presents summary information about Exelon's and Generation’s significant unconsolidated VIE entities:



	March 31, 2020						December 31, 2019
	Commercial Agreement VIEs		Equity Investment VIEs		Total		Commercial Agreement VIEs		Equity Investment VIEs		Total
Total assets^(a)	$	695	$	431	$	1,126	$	636	$	443	$	1,079
Total liabilities^(a)	158		223		381		33		227		260
Exelon's ownership interest in VIE^(a)	—		183		183		—		191		191
Other ownership interests in VIE^(a)	538		25		563		604		25		629

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(a)

These items represent amounts on the unconsolidated VIE balance sheets, not in Exelon’s or Generation’s Consolidated Balance Sheets. These items are included to provide information regarding the relative size of the unconsolidated VIEs.