Accounts Receivable (All Registrants)

9 Months Ended

Sep. 30, 2022

Allowance for Credit Losses on Accounts Receivable

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


	Three Months Ended September 30, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of June 30, 2022	$	354	$	81	$	107	$	57	$	109	$	42	$	22	$	45
Plus: Current period provision for expected credit losses(a)	38		10		12		2		14		6		1		7
Less: Write-offs, net of recoveries(b)	51		17		16		5		12		4		3		5
Balance as of September 30, 2022	$	341	$	74	$	103	$	54	$	111	$	44	$	20	$	47

	Three Months Ended September 30, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of June 30, 2021	$	320	$	89	$	111	$	27	$	93	$	38	$	19	$	36
Plus: Current period provision for expected credit losses(c)	37		11		1		7		18		5		3		10
Less: Write-offs, net of recoveries(b)	32		12		11		3		6		2		4		—
Balance as of September 30, 2021	$	325	$	88	$	101	$	31	$	105	$	41	$	18	$	46

	Nine Months Ended September 30, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2021	$	320	$	73	$	105	$	38	$	104	$	37	$	18	$	49
Plus: Current period provision for expected credit losses(d)(e)	141		31		33		30		47		23		8		16
Less: Write-offs, net of recoveries(b)(f)	120		30		35		14		40		16		6		18
Balance as of September 30, 2022	$	341	$	74	$	103	$	54	$	111	$	44	$	20	$	47

	Nine Months Ended September 30, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	334	$	97	$	116	$	35	$	86	$	32	$	22	$	32
Plus: Current period provision for expected credit losses(g)	65		23		7		2		33		15		4		14
Less: Write-offs, net of recoveries(b)	74		32		22		6		14		6		8		—
Balance as of September 30, 2021	$	325	$	88	$	101	$	31	$	105	$	41	$	18	$	46

__________

(a)For ACE, the increase is primarily a result of increased receivable balances.

(b)Recoveries were not material to the Registrants.

(c)For ACE, the increase is primarily a result of increased aging of receivables and a slight decrease in the expected recovery rate.

(d)For PECO, BGE, and DPL, the increase is primarily a result of increased receivable balances due to the increased aging of receivables.

(e)For PHI, Pepco and ACE, the increase is primarily as a result of increased receivable balances.

(f)For PECO, PHI, Pepco, and ACE, the increase in 2022 is primarily related to the termination of the moratoriums in Pennsylvania, the District of Columbia, and New Jersey, which beginning in March 2020, prevented customer disconnections for non-payment. With disconnection activities restarting in January 2022, write-offs of aging accounts receivable increased throughout the year.

(g)For PHI, Pepco, and ACE, the increase is primarily a result of increased aging of receivables and a slight decrease in the expected recovery rate.

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


	Three Months Ended September 30, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of June 30, 2022	$	81	$	18	$	10	$	11	$	42	$	20	$	8	$	14
Plus: Current period provision (benefit) for expected credit losses	8		2		2		2		2		2		(1)		1
Less: Write-offs, net of recoveries(a)	5		2		1		1		1		—		—		1
Balance as of September 30, 2022	$	84	$	18	$	11	$	12	$	43	$	22	$	7	$	14

	Three Months Ended September 30, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of June 30, 2021	$	71	$	18	$	7	$	8	$	38	$	16	$	9	$	13
Plus: Current period provision (benefit) for expected credit losses	6		2		1		1		2		1		(1)		2
Less: Write-offs, net of recoveries(a)	4		1		1		1		—		—		—		—
Balance as of September 30, 2021	$	73	$	19	$	7	$	8	$	40	$	17	$	8	$	15

	Nine Months Ended September 30, 2022
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2021	$	72	$	17	$	7	$	9	$	39	$	16	$	8	$	15
Plus: Current period provision (benefit) for expected credit losses	24		5		6		6		7		6		(1)		2
Less: Write-offs, net of recoveries(a)	12		4		2		3		3		—		—		3
Balance as of September 30, 2022	$	84	$	18	$	11	$	12	$	43	$	22	$	7	$	14

	Nine Months Ended September 30, 2021
	Exelon		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 (benefit) for expected credit losses	11		—		2		2		7		4		(1)		4
Less: Write-offs, net of recoveries(a)	9		2		3		3		—		—		—		—
Balance as of September 30, 2021	$	73	$	19	$	7	$	8	$	40	$	17	$	8	$	15

__________

(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 September 30, 2022 and December 31, 2021.


	Unbilled customer revenues(a)
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
September 30, 2022	$	500	$	126	$	121	$	102	$	151	$	74	$	35	$	42
December 31, 2021	747		240		161		171		175		82		53		40

__________

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

Other Purchases of Customer and Other Accounts Receivables

The Utility Registrants are required, under separate legislation and regulations in Illinois, Pennsylvania, Maryland, District of Columbia, Delaware, 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 table presents the total receivables purchased.


	Total receivables purchased
	Exelon(a)		ComEd		PECO		BGE(a)		PHI		Pepco		DPL		ACE
Nine months ended September 30, 2022	$	3,088	$	753	$	832	$	607	$	896	$	559	$	168	$	169
Nine months ended September 30, 2021	2,962		810		795		531		826		504		166		156

__________

(a)Includes $4 million of receivables purchased from Generation prior to the separation on February 1, 2022 for the nine months ended September 30, 2022 and $17 million of receivables purchased from Generation for the nine months ended September 30, 2021.