Accounts Receivable (Tables)

3 Months Ended

Mar. 31, 2021

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

The following tables present the rollforward of Allowance for Credit Losses on Customer Accounts Receivable.


















	Three Months Ended March 31, 2021
	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	366	$	32	$	97	$	116	$	35	$	86	$	32	$	22	$	32
Plus: Current period provision for expected credit losses(a)	104		34		21		20		9		20		11		6		3
Less: Write-offs, net of recoveries(b)	28		1		15		6		1		5		2		3		—

Balance as of March 31, 2021	$	442	$	65	$	103	$	130	$	43	$	101	$	41	$	25	$	35

	Three Months Ended March 31, 2020
	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2019	$	243	$	80	$	59	$	55	$	12	$	37	$	13	$	11	$	13
Plus: Current period provision for expected credit losses	55		4		18		18		8		7		3		2		2
Less: Write-offs, net of recoveries(b)	20		3		6		7		2		2		1		—		1

Balance as of March 31, 2020	$	278	$	81	$	71	$	66	$	18	$	42	$	15	$	13	$	14

_________

(a)For Generation, primarily relates to the impacts of the February 2021 extreme cold weather event. See Note 3 — Regulatory Matters for additional information. For the Utility Registrants, the increase is primarily as a result of increased receivable balances due to the colder weather and the increased aging of receivables, the temporary suspension of customer disconnections for non-payment, temporary cessation of new late payment fees, and reconnection of service to customers previously disconnected due to COVID-19.

(b)Recoveries were not material to the Registrants.

The following tables present the rollforward of Allowance for Credit Losses on Other Accounts Receivable.
















	Three Months Ended March 31, 2021
	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	71	$	—	$	21	$	8	$	9	$	33	$	13	$	9	$	11
Plus: Current period provision for expected credit losses	10		—		1		4		1		4		2		1		1
Less: Write-offs, net of recoveries(a)	2		—		—		1		1		—		—		—		—
Balance as of March 31, 2021	$	79	$	—	$	22	$	11	$	9	$	37	$	15	$	10	$	12

	Three Months Ended March 31, 2020
	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2019	$	48	$	—	$	20	$	7	$	5	$	16	$	7	$	4	$	5
Plus: Current period provision for expected credit losses	8		—		3		1		2		2		1		—		1
Less: Write-offs, net of recoveries(a)	4		—		1		1		2		—		—		—		—
Balance as of March 31, 2020	$	52	$	—	$	22	$	7	$	5	$	18	$	8	$	4	$	6

_________

(a)Recoveries were not material to the Registrants.

Unbilled customer revenue

The following table provides additional information about unbilled customer revenues recorded in the Registrants' Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020.


	Unbilled customer revenues(a)
	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
March 31, 2021	$	1,178	$	671	$	161	$	102	$	126	$	118	$	58	$	38	$	22
December 31, 2020	998		258		218		147		197		178		87		62		29

_________

(a)Unbilled customer revenues are classified in Customer accounts receivables, net in the Registrants' Consolidated Balance Sheets.

Purchases and sales of accounts receivable

The following table summarizes the impact of the sale of certain receivables:


	March 31, 2021		December 31, 2020
Derecognized receivables transferred at fair value	$	1,301	$	1,139
Cash proceeds received	900		500
DPP	401		639


	Three Months Ended March 31, 2021
Loss on sale of receivables(a)	$	17

_________

(a)Reflected in Operating and maintenance expense on Exelon's and Generation's Consolidated Statement of Operations and Comprehensive Income.


	Three Months Ended March 31, 2021
Proceeds from new transfers(a)	$	1,036
Cash collections received on DPP and reinvested in the Facility(b)	1,174
Cash collections reinvested in the Facility	2,210

_________

(a)Customer accounts receivable sold into the Facility were $2,375 million for the three months ended March 31, 2021.

(b)Does not include the $400 million in cash proceeds received from the Purchasers in the first quarter of 2021.

Generation is required, under supplier tariffs in ISO-NE, MISO, NYISO, and PJM, to sell customer and other receivables to utility companies, which include the Utility Registrants. The Utility Registrants are required, under separate legislation and regulations in Illinois, Pennsylvania, Maryland, District of Columbia, and New Jersey, to purchase certain receivables from alternative retail electric and, as applicable, natural gas suppliers that participate in the utilities' consolidated billing. The following tables present the total receivables purchased and sold.


	Three Months Ended March 31, 2021
	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Total receivables purchased	$	1,011	$	—	$	266	$	290	$	199	$	268	$	166	$	56	$	46
Total receivables sold	69		81		—		—		—		—		—		—		—

Related party transactions:
Receivables purchased from Generation	—		—		—		—		12		—		—		—		—
Receivables sold to the Utility Registrants	—		12		—		—		—		—		—		—		—


	Three Months Ended March 31, 2020
	Exelon		Generation		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Total receivables purchased	$	781	$	—	$	280	$	284	$	195	$	264	$	165	$	53	$	46
Total receivables sold	507		749		—		—		—		—		—		—		—

Related party transactions:
Receivables purchased from Generation	—		—		34		67		69		72		51		13		8
Receivables sold to the Utility Registrants	—		242		—		—		—		—		—		—		—