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Segment Information (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Analysis and reconciliation of reportable segment information An analysis and reconciliation of the Registrants' reportable segment information to the respective information in the consolidated financial statements for the years ended December 31, 2022, 2021, and 2020 is as follows:
ComEdPECOBGEPHI
Other(a)
Intersegment
Eliminations
Exelon
Operating revenues(b):
2022
Electric revenues$5,761 $3,165 $2,871 $5,317 $— $(31)$17,083 
Natural gas revenues— 738 1,024 238 — (5)1,995 
Shared service and other revenues— — — 10 1,823 (1,833)— 
Total operating revenues$5,761 $3,903 $3,895 $5,565 $1,823 $(1,869)$19,078 
2021
Electric revenues$6,406 $2,659 $2,505 $4,860 $— $(35)$16,395 
Natural gas revenues— 539 836 168 — — 1,543 
Shared service and other revenues— — — 13 2,213 (2,226)— 
Total operating revenues$6,406 $3,198 $3,341 $5,041 $2,213 $(2,261)$17,938 
2020
Electric revenues$5,904 $2,543 $2,336 $4,485 $— $(44)$15,224 
Natural gas revenues— 515 762 162 — — 1,439 
Shared service and other revenues— — — 16 2,035 (2,051)— 
Total operating revenues$5,904 $3,058 $3,098 $4,663 $2,035 $(2,095)$16,663 
Intersegment revenues(c):
2022$16 $$15 $10 $1,823 $(1,865)$
202141 21 31 13 2,203 (2,252)57 
202037 20 17 2,024 (2,084)23 
Depreciation and amortization:
2022$1,323 $373 $630 $938 $61 $— $3,325 
20211,205 348 591 821 67 3,033 
20201,133 347 550 782 79 — 2,891 
Operating expenses:
2022$4,218 $3,102 $3,376 $4,734 $2,093 $(1,762)$15,761 
20215,151 2,547 2,860 4,240 2,045 (1,587)15,256 
20204,950 2,512 2,598 4,045 1,882 (1,502)14,485 
Interest expense, net:
2022$414 $177 $152 $292 $415 $(3)$1,447 
2021389 161 138 267 335 (1)1,289 
2020382 147 133 268 380 (3)1,307 
Income taxes:
2022$264 $79 $$$— $(11)$349 
2021172 12 (35)42 (161)38 
2020177 (30)41 (77)35 (153)(7)
Net income (loss) from continuing operations:
2022$917 $576 $380 $608 $(393)$(34)$2,054 
2021742 504 408 561 (156)(443)1,616 
2020438 447 349 495 (184)(446)1,099 
Capital expenditures:
2022$2,506 $1,349 $1,262 $1,709 $95 $— $6,921 
20212,387 1,240 1,226 1,720 67 — 6,640 
20202,217 1,147 1,247 1,604 74 — 6,289 
Total assets:
2022$39,661 $14,502 $13,350 $26,082 $6,014 $(4,260)$95,349 
202136,470 13,824 12,324 24,744 7,626 (8,319)86,669 
__________
(a)Other primarily includes Exelon’s corporate operations, shared service entities, and other financing and investment activities.
(b)Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 22 — Supplemental Financial Information for additional information on total utility taxes.
(c)See Note 23 — Related Party Transactions for additional information on intersegment revenues.
PHI:
PepcoDPLACE
Other(a)
Intersegment
Eliminations
PHI
Operating revenues(b):
2022
Electric revenues$2,531 $1,357 $1,431 $— $(2)$5,317 
Natural gas revenues— 238 — — — 238 
Shared service and other revenues— — — 391 (381)10 
Total operating revenues$2,531 $1,595 $1,431 $391 $(383)$5,565 
2021
Electric revenues$2,274 $1,212 $1,388 $— $(14)$4,860 
Natural gas revenues— 168 — — — 168 
Shared service and other revenues— — — 379 (366)13 
Total operating revenues$2,274 $1,380 $1,388 $379 $(380)$5,041 
2020
Electric revenues$2,149 $1,109 $1,245 $— $(18)$4,485 
Natural gas revenues— 162 — — — 162 
Shared service and other revenues— — — 372 (356)16 
Total operating revenues$2,149 $1,271 $1,245 $372 $(374)$4,663 
Intersegment revenues(c):
2022$$$$380 $(383)$10 
2021380 (381)13 
2020372 (375)17 
Depreciation and amortization:
2022$417 $232 $261 $28 $— $938 
2021403 210 179 29 — 821 
2020377 191 180 34 — 782 
Operating expenses:
2022$2,140 $1,359 $1,225 $393 $(383)$4,734 
20211,871 1,161 1,201 388 (381)4,240 
20201,799 1,120 1,123 378 (375)4,045 
Interest expense, net:
2022$150 $66 $66 $$$292 
2021140 61 58 — 267 
2020138 61 59 10 — 268 
Income taxes:
2022$(9)$14 $$$— $
202115 42 (13)(2)— 42 
2020(7)(25)(41)(4)— (77)
Net income (loss):
2022$305 $169 $148 $(14)$— $608 
2021296 128 146 (9)— 561 
2020266 125 112 (8)— 495 
Capital expenditures:
2022$874 $430 $398 $$— $1,709 
2021843 429 445 — 1,720 
2020773 424 401 — 1,604 
Total assets:
2022$10,657 $5,802 $4,979 $4,677 $(33)$26,082 
20219,903 5,412 4,556 4,933 (60)24,744 
__________
(a)Other primarily includes PHI’s corporate operations, shared service entities, and other financing and investment activities.
(b)Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 22 — Supplemental Financial Information for additional information on total utility taxes.
(c)Includes intersegment revenues with ComEd, BGE, and PECO, which are eliminated at Exelon.
Schedule of Revenue by Major Customers by Reporting Segments
The following tables disaggregate the Registrants' revenues recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. For the Utility Registrants, the disaggregation of revenues reflects the two primary utility services of electric sales and natural gas sales (where applicable), with further disaggregation of these tariff sales provided by major customer groups. Exelon's disaggregated revenues are consistent with the Utility Registrants, but exclude any intercompany revenues.
2022
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$3,304 $2,026 $1,564 $2,590 $1,076 $750 $764 
Small commercial & industrial1,173 521 327 607 155 235 217 
Large commercial & industrial299 567 1,422 1,083 137 202 
Public authorities & electric railroads29 30 27 64 34 15 15 
Other(a)
955 271 398 695 208 227 252 
Total electric revenues(b)
$5,466 $3,147 $2,883 $5,378 $2,556 $1,364 $1,450 
Natural gas revenues
Residential$— $512 $678 $127 $— $127 $— 
Small commercial & industrial— 186 111 55 — 55 — 
Large commercial & industrial— — 183 12 — 12 — 
Transportation— 26 — 15 — 15 — 
Other(c)
— 12 68 29 — 29 — 
Total natural gas revenues(d)
$— $736 $1,040 $238 $— $238 $— 
Total revenues from contracts with customers$5,466 $3,883 $3,923 $5,616 $2,556 $1,602 $1,450 
Other revenues
Revenues from alternative revenue programs$267 $$(47)$(59)$(31)$(9)$(19)
Other electric revenues(e)
28 16 14 — 
Other natural gas revenues(e)
— — — — — 
Total other revenues$295 $20 $(28)$(51)$(25)$(7)$(19)
Total revenues for reportable segments$5,761 $3,903 $3,895 $5,565 $2,531 $1,595 $1,431 
2021
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$3,233 $1,704 $1,375 $2,441 $1,003 $694 $744 
Small commercial & industrial1,571 422 267 521 135 193 193 
Large commercial & industrial559 243 459 1,123 844 94 185 
Public authorities & electric railroads45 31 27 58 31 14 13 
Other(a)
926 229 371 634 205 201 229 
Total electric revenues(b)
$6,334 $2,629 $2,499 $4,777 $2,218 $1,196 $1,364 
Natural gas revenues
Residential$— $372 $518 $97 $— $97 $— 
Small commercial & industrial— 136 83 42 — 42 — 
Large commercial & industrial— — 147 — — 
Transportation— 24 — 14 — 14 — 
Other(c)
— 68 — — 
Total natural gas revenues(d)
$— $539 $816 $168 $— $168 $— 
Total revenues from contracts with customers$6,334 $3,168 $3,315 $4,945 $2,218 $1,364 $1,364 
Other revenues
Revenues from alternative revenue programs$42 $26 $12 $91 $53 $14 $24 
Other electric revenues(e)
30 11 — 
Other natural gas revenues(e)
— — — — — — 
Total other revenues$72 $30 $26 $96 $56 $16 $24 
Total revenues for reportable segments$6,406 $3,198 $3,341 $5,041 $2,274 $1,380 $1,388 
2020
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Electric revenues
Residential$3,090 $1,656 $1,345 $2,332 $988 $652 $692 
Small commercial & industrial1,399 386 241 472 132 171 169 
Large commercial & industrial515 228 406 1,001 736 89 176 
Public authorities & electric railroads45 29 27 60 34 13 13 
Other(a)
884 225 309 613 218 190 207 
Total electric revenues(b)
$5,933 $2,524 $2,328 $4,478 $2,108 $1,115 $1,257 
Natural gas revenues
Residential$— $361 $504 $96 $— $96 $— 
Small commercial & industrial— 126 79 42 — 42 — 
Large commercial & industrial— — 135 — — 
Transportation— 24 — 14 — 14 — 
Other(c)
— 29 — — 
Total natural gas revenues(d)
$— $515 $747 $162 $— $162 $— 
Total revenues from contracts with customers$5,933 $3,039 $3,075 $4,640 $2,108 $1,277 $1,257 
Other revenues
Revenues from alternative revenue programs$(47)$16 $16 $21 $40 $(7)$(12)
Other electric revenues(e)
18 — 
Other natural gas revenues(e)
— — — — — — 
Total other revenues$(29)$19 $23 $23 $41 $(6)$(12)
Total revenues for reportable segments$5,904 $3,058 $3,098 $4,663 $2,149 $1,271 $1,245 
__________
(a)Includes revenues from transmission revenue from PJM, wholesale electric revenue and mutual assistance revenue.
(b)Includes operating revenues from affiliates in 2022, 2021, and 2020 respectively of:
$16 million, $41 million, and $37 million at ComEd
$7 million, $20 million, and $8 million at PECO
$7 million, $13 million, and $10 million at BGE
$10 million, $13 million, and $17 million at PHI
$5 million, $5 million, and $7 million at Pepco
$6 million, $7 million, and $9 million at DPL
$2 million, $2 million, and $4 million at ACE
(c)Includes revenues from off-system natural gas sales.
(d)Includes operating revenues from affiliates in 2022, 2021, and 2020 respectively of:
less than $1 million, $1 million, and $1 million at PECO
$8 million, $18 million, and $10 million at BGE
(e)Includes late payment charge revenues.