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Discontinued Operations (Tables) (Discontinued Operations [Member])
 6 Months Ended
Jun. 30, 2013
Discontinued Operations [Member]
  
Operating Results for Retail Natural Gas Supply Business

The operating results for the retail electric and natural gas supply businesses of Pepco Energy Services are as follows:

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2013     2012     2013     2012  
    (millions of dollars)  

Operating revenue

   $ 34      $ 109      $ 84      $ 265   
 

 

 

    

 

 

    

 

 

    

 

 

  

Income from operations of discontinued operations, net of income taxes (a)

   $ 1      $ 9      $ 3      $ 17   

Net gains associated with the accelerated disposition of retail electric and natural gas contracts, net of income taxes (b)

     3        —          1        —     
 

 

 

    

 

 

    

 

 

    

 

 

  

Income From Discontinued Operations, Net of Income Taxes

   $ 4      $ 9      $ 4      $ 17   
 

 

 

    

 

 

    

 

 

    

 

 

  

 

(a) Includes income tax expense of zero and approximately $6 million for the three months ended June 30, 2013 and 2012, respectively, and approximately $1 million and $11 million for the six months ended June 30, 2013 and 2012, respectively.
(b) Includes income tax expense of approximately $1 million and zero for the three months ended June 30, 2013 and 2012, respectively, and zero for each of the six months ended June 30, 2013 and 2012.
Activity of Energy Commodity Contracts Designated as Cash Flow Hedges

The cash flow hedge activity during the three and six months ended June 30, 2013 and 2012 is provided in the tables below:

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2013      2012      2013      2012  
     (millions of dollars)  

Amount of net pre-tax loss arising during the period included in Accumulated Other Comprehensive Loss

    $ —         $ —         $ —         $ —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Amount of net pre-tax loss reclassified into income:

            

Effective portion:

            

Income from Discontinued operations, Net of Income Taxes

      2         12         10         25   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total net pre-tax loss reclassified into Income from Discontinued operations, Net of Income Taxes

      2         12         10         25   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net pre-tax gain on commodity derivatives included in Accumulated Other Comprehensive Loss

    $ 2       $ 12       $ 10       $ 25   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(a) Included in the table above is a loss of $4 million for the six months ended June 30, 2013, which was reclassified from AOCL to Income from Discontinued operations, Net of Income Taxes because the forecasted hedged transactions were deemed probable not to occur. For the three months ended June 30, 2013, and for the three and six months ended June 30, 2012, no amounts were reclassified from AOCL to Income from Discontinued operations, Net of Income Taxes because the forecasted hedged transactions were deemed probable not to occur.
Schedule of Derivative Gain (Loss) Amounts Recognized in Income

For the three and six months ended June 30, 2013 and 2012, the amount of the derivative gain (loss) for the retail electric and natural gas supply businesses of Pepco Energy Services recognized in Income from Discontinued Operations, Net of Income Taxes is provided in the table below:

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2013      2012      2013      2012  
     (millions of dollars)  

Reclassification of mark-to-market to realized on settlement of contracts

    $ 5      $ 7      $ 10      $ 17  

Unrealized mark-to-market gain (loss)

      —          5        —          (5 )
  

 

 

     

 

 

     

 

 

     

 

 

  

Total net (loss) gain

    $ 5      $ 12      $ 10      $ 12