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Schedule I - Condensed Financial Information of Parent (Exelon Corporate)
 12 Months Ended
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]  
Schedule I - Condensed Financial Information of Parent (Exelon Corporate)
Exelon Corporation and Subsidiary Companies
 Schedule I – Condensed Financial Information of Parent (Exelon Corporate)
Condensed Statements of Operations and Other Comprehensive Income
 
 For the Years Ended
December 31,
(In millions)202020192018
Operating expenses
Operating and maintenance$(2)$33 $(5)
Operating and maintenance from affiliates10 9 9 
Other2 1 4 
Total operating expenses10 43 8 
Operating loss(10)(43)(8)
Other income and (deductions)
Interest expense, net(378)(321)(312)
Equity in earnings of investments2,313 3,254 2,183 
Interest income from affiliates, net30 39 42 
Other, net15 14 3 
Total other income1,980 2,986 1,916 
Income before income taxes1,970 2,943 1,908 
Income taxes7 7 (97)
Net income$1,963 $2,936 $2,005 
Other comprehensive income (loss)
Pension and non-pension postretirement benefit plans:
Prior service benefit reclassified to periodic costs$(40)$(64)$(66)
Actuarial loss reclassified to periodic cost190 148 247 
Pension and non-pension postretirement benefit plan valuation adjustment(357)(289)(143)
Unrealized (loss) gain on cash flow hedges(1)1 12 
Unrealized gain on equity investments— — 1 
Unrealized (loss) on foreign currency translation— — (10)
Other comprehensive income (loss)(208)(204)41 
Comprehensive income$1,755 $2,732 $2,046 
Exelon Corporation and Subsidiary Companies
Schedule I – Condensed Financial Information of Parent (Exelon Corporate)
Condensed Statements of Cash Flows
 
 For the Years Ended
December 31,
(In millions)202020192018
Net cash flows provided by operating activities$3,018 $1,948 $2,576 
Cash flows from investing activities
Changes in Exelon intercompany money pool(477)95 1 
Notes receivable from affiliates550 — — 
Investment in affiliates(1,969)(1,071)(1,231)
Net cash flows used in investing activities(1,896)(976)(1,230)
Cash flows from financing activities
Changes in short-term borrowings(136)136 — 
Issuance of long-term debt2,000 — — 
Retirement of long-term debt(1,450)— — 
Dividends paid on common stock(1,492)(1,408)(1,332)
Proceeds from employee stock plans45 112 105 
Other financing activities(27)— (4)
Net cash flows used in financing activities(1,060)(1,160)(1,231)
Increase (Decrease) in cash, restricted cash, and cash equivalents62 (188)115 
Cash, restricted cash, and cash equivalents at beginning of period1 189 74 
Cash, restricted cash, and cash equivalents at end of period$63 $1 $189 
Exelon Corporation and Subsidiary Companies
Schedule I – Condensed Financial Information of Parent (Exelon Corporate)
Condensed Balance Sheets
 
 December 31,
(In millions)20202019
ASSETS
Current assets
Cash and cash equivalents$63 $1 
Accounts receivable, net
Other accounts receivable354 168 
Accounts receivable from affiliates11 41 
Mark-to-market derivative assets
— 3 
Notes receivable from affiliates598 679 
Regulatory assets315 253 
Other4 4 
Total current assets1,345 1,149 
Property, plant, and equipment, net46 47 
Deferred debits and other assets
Regulatory assets3,816 3,772 
Investments in affiliates43,149 42,245 
Deferred income taxes1,625 1,524 
Notes receivable from affiliates324 329 
Other312 308 
Total deferred debits and other assets49,226 48,178 
Total assets$50,617 $49,374 
Exelon Corporation and Subsidiary Companies
Schedule I – Condensed Financial Information of Parent (Exelon Corporate)
Condensed Balance Sheets
 
 December 31,
(In millions)20202019
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term borrowings$500 $636 
Long-term debt due within one year300 1,458 
Accounts payable1 1 
Accrued expenses76 131 
Payables to affiliates457 363 
Regulatory liabilities4 13 
Pension obligations92 77 
Other4 10 
Total current liabilities1,434 2,689 
Long-term debt7,418 5,717 
Deferred credits and other liabilities
Regulatory liabilities32 31 
Pension obligations8,351 7,960 
Non-pension postretirement benefit obligations387 403 
Deferred income taxes348 263 
Other62 87 
Total deferred credits and other liabilities9,180 8,744 
Total liabilities18,032 17,150 
Commitments and contingencies
Shareholders’ equity
Common stock (No par value, 2,000 shares authorized, 976 shares and 973 shares outstanding at December 31, 2020 and 2019, respectively)
19,373 19,274 
Treasury stock, at cost (2 shares at December 31, 2020 and 2019)
(123)(123)
Retained earnings16,735 16,267 
Accumulated other comprehensive loss, net(3,400)(3,194)
Total shareholders’ equity32,585 32,224 
Total liabilities and shareholders’ equity$50,617 $49,374 
Basis of PresentationExelon Corporate is a holding company that conducts substantially all of its business operations through its subsidiaries. These condensed financial statements and related footnotes have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X. These statements should be read in conjunction with the consolidated financial statements and notes thereto of Exelon Corporation.Exelon Corporate owns 100% of all of its significant subsidiaries, either directly or indirectly, except for Commonwealth Edison Company (ComEd), of which Exelon Corporate owns more than 99%Debt and Credit Agreements
Short-Term Borrowings
Exelon Corporate meets its short-term liquidity requirements primarily through the issuance of commercial paper. Exelon Corporate had no outstanding commercial paper borrowings and $136 million at December 31, 2020 and 2019, respectively.
Short-Term Loan Agreements
On March 23, 2017, Exelon Corporate entered into a 12-month term loan agreement for $500 million, which was renewed annually on March 22, 2018, March 20, 2019, and March 19, 2020, respectively. The loan agreement will expire on March 18, 2021. Pursuant to the loan agreement, as of December 31, 2020, loans made thereunder bear interest at a variable rate equal to LIBOR plus 0.65% and all indebtedness thereunder is unsecured. The loans beared interest at LIBOR plus 0.95% as of December 31, 2019 as part of the March 20, 2019 renewal. The loan agreement is reflected in Exelon’s Consolidated Balance Sheet within Short-Term borrowings.
Revolving Credit Agreements
On May 26, 2018, Exelon Corporate's syndicated revolving credit facility of $600 million had its maturity date extended to May 26, 2023. As of December 31, 2020, Exelon Corporation had available capacity under those commitments of $594 million. See Note 17—Debt and Credit Agreements of the Combined Notes to Consolidated Financial Statements for additional information regarding Exelon Corporation’s credit agreement.
On April 24, 2020, Exelon Corporate entered into a credit agreement establishing a $550 million 364-day revolving credit facility at a variable interest rate of LIBOR plus 1.75%. This facility will be used by Exelon as an additional source of short-term liquidity as needed.
Long-Term Debt
The following tables present the outstanding long-term debt for Exelon Corporate as of December 31, 2020 and December 31, 2019:
  Maturity
Date		December 31,
 Rates20202019
Long-term debt
Junior subordinated notes3.50 %2022$1,150 $1,150 
Senior unsecured notes(a)
2.45 %-7.60 %2021 - 20506,439 5,889 
Total long-term debt7,589 7,039 
Unamortized debt discount and premium, net(10)(7)
Unamortized debt issuance costs(47)(39)
Fair value adjustment186 182 
Long-term debt due within one year(300)(1,458)
Long-term debt$7,418 $5,717 
__________
(a)Senior unsecured notes include mirror debt that is held on both Generation and Exelon Corporation's balance sheets.
The debt maturities for Exelon Corporate for the periods 2021, 2022, 2023, 2024, 2025, and thereafter are as follows:
2021$300 
20221,150 
2023— 
2024— 
2025807 
Thereafter5,332 
Total long-term debt$7,589 
Commitments and ContingenciesSee Note 19—Commitments and Contingencies of the Combined Notes to Consolidated Financial Statements for Exelon Corporate’s commitments and contingencies related to environmental matters and fund transfer restrictions.Related Party Transactions
The financial statements of Exelon Corporate include related party transactions as presented in the tables below:
 For the Years Ended
December 31,
(In millions)202020192018
Operating and maintenance from affiliates:
        BSC(a)
$10 $9 $11 
Other— — (2)
Total operating and maintenance from affiliates:$10 $9 $9 
Interest income from affiliates, net:
Generation$29 $36 $36 
BSC1 3 4 
EEDC(b)
— — 2 
Total interest income from affiliates, net:$30 $39 $42 
Equity in earnings (losses) of investments:
EEDC(b)
$1,729 $2,054 $1,830 
Generation589 1,125 369 
UII— 97 — 
PCI— 1 (17)
Exelon Enterprises— (16)— 
Exelon INQB8R(6)(8)— 
Exelon Transmission Company— (2)1 
Other1 3 — 
Total equity in earnings of investments:$2,313 $3,254 $2,183 
Cash contributions received from affiliates$3,372 $2,514 $2,302 
 December 31,
(in millions)20202019
Accounts receivable from affiliates (current):
BSC(a)
$— $11 
Generation3 13 
ComEd— 2 
PECO1 2 
BGE— 1 
PHISCO6 7 
Exelon Enterprises1 — 
Exelon VTI, LLC— 5 
Total accounts receivable from affiliates (current):$11 $41 
Notes receivable from affiliates (current):
BSC(a)
$252 $109 
Generation(c)
285 558 
PECO40 — 
PHI
21 12 
Total notes receivable from affiliates (current):$598 $679 
Investments in affiliates:
BSC(a)
$196 $197 
EEDC(b)
30,103 28,147 
Generation12,400 13,484 
PCI62 62 
UII365 365 
Voluntary Employee Beneficiary Association trust— (4)
Exelon Enterprises3 6 
Exelon INQB8R, LLC23 (8)
Other(3)(4)
Total investments in affiliates:$43,149 $42,245 
Notes receivable from affiliates (non-current):
Generation(c)
$324 $329 
Accounts payable to affiliates (current):
UII$360 $360 
BSC91 — 
EEDC(b)
4 — 
Generation(c)
2 — 
Exelon Enterprises— 3 
Total accounts payable to affiliates (current):$457 $363 
__________
(a)Exelon Corporate receives a variety of corporate support services from BSC, including legal, human resources, financial, information technology, and supply management services. All services are provided at cost, including applicable overhead.
(b)EEDC consists of ComEd, PECO, BGE, PHI, Pepco, DPL, and ACE.
(c)In connection with the debt obligations assumed by Exelon as part of the Constellation merger, Exelon and subsidiaries of Generation (former Constellation subsidiaries) assumed intercompany loan agreements that mirror the terms and amounts of the third-party debt obligations of Exelon, resulting in intercompany notes payable included in Long-Term Debt to affiliates in Generation’s Consolidated Balance Sheets and intercompany notes receivable at Exelon Corporate, which are eliminated in consolidation in Exelon’s Consolidated Balance Sheets.