Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2020

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

Consolidated VIEs

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 September 30, 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.


	September 30, 2020								December 31, 2019
	Exelon		Generation		PHI (a)		ACE		Exelon		Generation		PHI (a)		ACE
Cash and cash equivalents	$	148	$	148	$	—	$	—	$	163	$	163	$	—	$	—
Restricted cash and cash equivalents	52		48		4		4		88		85		3		3
Accounts receivable
Customer	151		151		—		—		151		151		—		—
Other	39		39		—		—		39		39		—		—
Unamortized energy contract assets	22		22		—		—		23		23		—		—
Inventories, net

Materials and supplies	241		241		—		—		227		227		—		—
Other current assets	781		776		5		—		32		31		1		—
Total current assets	1,434		1,425		9		4		723		719		4		3
Property, plant, and equipment, net	5,865		5,865		—		—		6,022		6,022		—		—
Nuclear decommissioning trust funds	2,785		2,785		—		—		2,741		2,741		—		—

Unamortized energy contract assets	253		253		—		—		250		250		—		—
Other noncurrent assets	49		38		11		10		89		73		16		14
Total noncurrent assets	8,952		8,941		11		10		9,102		9,086		16		14
Total assets (b)	$	10,386	$	10,366	$	20	$	14	$	9,825	$	9,805	$	20	$	17
Long-term debt due within one year	$	134	$	109	$	25	$	20	$	544	$	523	$	21	$	20
Accounts payable	81		81		—		—		106		106		—		—
Accrued expenses	63		63		—		—		70		70		—		—

Unamortized energy contract liabilities	5		5		—		—		8		8		—		—
Other current liabilities	26		26		—		—		3		3		—		—
Total current liabilities	309		284		25		20		731		710		21		20
Long-term debt	913		906		7		6		527		504		23		21
Asset retirement obligations	2,210		2,210		—		—		2,128		2,128		—		—

Unamortized energy contract liabilities	1		1		—		—		1		1		—		—
Other noncurrent liabilities	106		106		—		—		89		89		—		—
Total noncurrent liabilities	3,230		3,223		7		6		2,745		2,722		23		21
Total liabilities (c)	$	3,539	$	3,507	$	32	$	26	$	3,476	$	3,432	$	44	$	41

_________

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

(b)Exelon’s and Generation’s balances include unrestricted assets for current unamortized energy contract assets of $22 million and $23 million, Property, plant, and equipment of $1 million and $20 million, non-current unamortized energy contract assets of $253 million and $250 million, and other unrestricted assets of $8 million and $0 million as of September 30, 2020 and December 31, 2019, respectively

(c)Exelon’s and Generation’s balances include liabilities with recourse of $8 million and $3 million as of September 30, 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:


	September 30, 2020						December 31, 2019
	Commercial Agreement VIEs		Equity Investment VIEs		Total		Commercial Agreement VIEs		Equity Investment VIEs		Total
Total assets(a)	$	736	$	409	$	1,145	$	636	$	443	$	1,079
Total liabilities(a)	216		225		441		33		227		260
Exelon's ownership interest in VIE(a)	—		163		163		—		191		191
Other ownership interests in VIE(a)	520		21		541		604		25		629

_________

(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. Exelon and Generation do not have any exposure to loss as they do not have a carrying amount in the equity investment VIEs as of September 30, 2020 and December 31, 2019.