Changes in Accumulated Other Comprehensive Income (Exelon, Generation, PECO and PHI) The following tables present changes in accumulated other comprehensive income (loss) (AOCI) by component for the years ended December 31, 2016 and 2015: | | | | | | | | | | | | | | | | | | | | | | | | | For the Year Ended December 31, 2016 | Gains and (Losses) on Cash Flow Hedges |
| Unrealized
Gains on
Marketable
Securities |
| Pension and
Non-Pension
Postretirement
Benefit Plan
Items |
| Gains and (Losses) on Foreign
Currency
Items |
| AOCI of Equity Investments |
| Total | Exelon(a) |
|
|
|
|
|
|
|
|
|
|
| Beginning balance | $ | (19 | ) | | $ | 3 |
| | $ | (2,565 | ) | | $ | (40 | ) | | $ | (3 | ) | | $ | (2,624 | ) | OCI before reclassifications | (6 | ) | | 1 |
| | (182 | ) | | 5 |
| | (4 | ) | | (186 | ) | Amounts reclassified from AOCI(b) | 8 |
| | — |
| | 137 |
| | 5 |
| | — |
| | 150 |
| Net current-period OCI | 2 |
|
| 1 |
|
| (45 | ) |
| 10 |
|
| (4 | ) |
| (36 | ) | Ending balance | $ | (17 | ) |
| $ | 4 |
|
| $ | (2,610 | ) |
| $ | (30 | ) |
| $ | (7 | ) |
| $ | (2,660 | ) | Generation(a) |
|
|
|
|
|
|
|
|
| |
| Beginning balance | $ | (21 | ) | | $ | 1 |
| | $ | — |
| | $ | (40 | ) | | $ | (3 | ) | | $ | (63 | ) | OCI before reclassifications | (6 | ) | | 1 |
| | — |
| | 5 |
| | (4 | ) | | (4 | ) | Amounts reclassified from AOCI(b) | 8 |
| | — |
| | — |
| | 5 |
| | — |
| | 13 |
| Net current-period OCI | 2 |
|
| 1 |
|
| — |
|
| 10 |
|
| (4 | ) |
| 9 |
| Ending balance | $ | (19 | ) |
| $ | 2 |
|
| $ | — |
|
| $ | (30 | ) |
| $ | (7 | ) |
| $ | (54 | ) | PECO(a) |
|
|
|
|
|
|
|
|
| |
| Beginning balance | $ | — |
| | $ | 1 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 1 |
| OCI before reclassifications | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Amounts reclassified from AOCI(b) | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Net current-period OCI | — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
| Ending balance | $ | — |
|
| $ | 1 |
|
| $ | — |
|
| $ | — |
|
| $ | — |
|
| $ | 1 |
| PHI Predecessor(a) | | | | | | | | | | | | Beginning balance January 1, 2016 | $ | (8 | ) | | $ | — |
| | $ | (28 | ) | | $ | — |
| | $ | — |
| | $ | (36 | ) | OCI before reclassifications | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Amounts reclassified from AOCI(b) | — |
| | — |
| | 1 |
| | — |
| | — |
| | 1 |
| Net current-period OCI | — |
| | — |
| | 1 |
| | — |
| | — |
| | 1 |
| Ending balance March 23, 2016(c) | $ | (8 | ) | | $ | — |
| | $ | (27 | ) | | $ | — |
| | $ | — |
| | $ | (35 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | For the Year Ended December 31, 2015 | Gains and
(Losses) on
Cash Flow
Hedges | | Unrealized
Gains on
Marketable
Securities | | Pension and
Non-Pension
Postretirement
Benefit Plan
items | | Gains and (Losses) on Foreign
Currency
Items | | AOCI of
Equity
Investments | | Total | Exelon(a) | | | | | | | | | | | | Beginning balance | $ | (28 | ) |
| $ | 3 |
|
| $ | (2,640 | ) |
| $ | (19 | ) |
| $ | — |
| | $ | (2,684 | ) | OCI before reclassifications | (12 | ) |
| — |
|
| (100 | ) |
| (21 | ) |
| (3 | ) | | (136 | ) | Amounts reclassified from AOCI(b) | 21 |
|
| — |
|
| 175 |
|
| — |
|
| — |
| | 196 |
| Net current-period OCI | 9 |
|
| — |
|
| 75 |
|
| (21 | ) |
| (3 | ) |
| 60 |
| Ending balance | $ | (19 | ) |
| $ | 3 |
|
| $ | (2,565 | ) |
| $ | (40 | ) |
| $ | (3 | ) |
| $ | (2,624 | ) | Generation(a) |
|
|
|
|
|
|
|
|
| |
| Beginning balance | $ | (18 | ) |
| $ | 1 |
|
| $ | — |
|
| $ | (19 | ) |
| $ | — |
| | (36 | ) | OCI before reclassifications | (8 | ) |
| — |
|
| — |
|
| (21 | ) |
| (3 | ) | | (32 | ) | Amounts reclassified from AOCI(b) | 5 |
|
| — |
|
| — |
|
| — |
|
| — |
| | 5 |
| Net current-period OCI | (3 | ) |
| — |
|
| — |
|
| (21 | ) |
| (3 | ) |
| (27 | ) | Ending balance | $ | (21 | ) |
| $ | 1 |
|
| $ | — |
|
| $ | (40 | ) |
| $ | (3 | ) |
| $ | (63 | ) | PECO(a) |
|
|
|
|
|
|
|
|
| |
| Beginning balance | $ | — |
|
| $ | 1 |
|
| $ | — |
|
| $ | — |
|
| $ | — |
| | $ | 1 |
| OCI before reclassifications | — |
|
| — |
|
| — |
|
| — |
|
| — |
| | — |
| Amounts reclassified from AOCI(b) | — |
|
| — |
|
| — |
|
| — |
|
| — |
| | — |
| Net current-period OCI | — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
| Ending balance | $ | — |
|
| $ | 1 |
|
| $ | — |
|
| $ | — |
|
| $ | — |
|
| $ | 1 |
| PHI Predecessor(a) | | | | | | | | | | | | Beginning balance | $ | (9 | ) | | $ | — |
| | $ | (37 | ) | | $ | — |
| | $ | — |
| | $ | (46 | ) | OCI before reclassifications | — |
| | — |
| | 5 |
| | — |
| | — |
| | 5 |
| Amounts reclassified from AOCI(b) | 1 |
| | — |
| | 4 |
| | — |
| | — |
| | 5 |
| Net current-period OCI | 1 |
| | — |
| | 9 |
| | — |
| | — |
| | 10 |
| Ending balance | $ | (8 | ) | | $ | — |
| | $ | (28 | ) | | $ | — |
| | $ | — |
| | $ | (36 | ) |
_______________________ | | (a) | All amounts are net of tax and noncontrolling interests. Amounts in parenthesis represent a decrease in accumulated other comprehensive income. |
| | (b) | See next tables for details about these reclassifications. |
| | (c) | As a result of the PHI Merger, the PHI predecessor balances at March 23, 2016 were reduced to zero on March 24, 2016 due to purchase accounting adjustments applied to PHI. |
ComEd, PECO, BGE, Pepco, DPL and ACE did not have any reclassifications out of AOCI to Net income during the years ended December 31, 2016 and 2015. The following tables present amounts reclassified out of AOCI to Net income for Exelon, Generation and PHI during the years ended December 31, 2016 and 2015: For the Year Ended December 31, 2016 | | | | | | | | | | | | | | | | Details about AOCI components | | Items reclassified out of AOCI(a) | | Affected line item in the Statements of Operations and Comprehensive Income | | | | | | | Predecessor | | | | | | | | | January 1, 2016 to March 23, 2016 | | | | | Exelon | | Generation | | PHI | | | Gains and (losses) on cash flow hedges | | | | | | | | | Other cash flow hedges | | $ | (13 | ) | | $ | (13 | ) | | $ | — |
| | Interest expense | Total before tax | | (13 | ) |
| (13 | ) | | — |
| | | Tax benefit | | 5 |
| | 5 |
| | — |
| | | Net of tax | | $ | (8 | ) |
| $ | (8 | ) | | $ | — |
| | Comprehensive income | | | | | | | | | | Amortization of pension and other postretirement benefit plan items | Prior service costs(b) | | $ | 78 |
| | $ | — |
| | $ | — |
| | | Actuarial losses(b) | | (302 | ) | | — |
| | (1 | ) | | | Total before tax | | (224 | ) |
| — |
| | (1 | ) | | | Tax benefit | | 87 |
| | — |
| | — |
| | | Net of tax | | $ | (137 | ) |
| $ | — |
| | $ | (1 | ) | | | | | | | | | | | | Gains and (losses) of FX | | | | | | | | | Gains | | $ | (5 | ) | | $ | (5 | ) | | $ | — |
| | | Other | | — |
| | — |
| | — |
| | | Total before tax | | (5 | ) | | (5 | ) | | — |
| | | Tax benefit | | — |
| | — |
| | — |
| | | Net of tax | | $ | (5 | ) | | $ | (5 | ) | | $ | — |
| | | | | | | | | | | | Total Reclassifications | | $ | (150 | ) |
| $ | (13 | ) | | $ | (1 | ) | | Comprehensive income |
For the Year Ended December 31, 2015 | | | | | | | | | | | | | | | | Details about AOCI components | | Items reclassified out of AOCI(a) | | Affected line item in the Statements of Operations and Comprehensive Income | | | | | | | Predecessor | | | | | Exelon | | Generation | | PHI | | | Gains and (losses) on cash flow hedges | | | | | | | | | Terminated interest rate swaps | | $ | (26 | ) | | $ | — |
| | $ | — |
| | Other, net | Energy related hedges | | 2 |
| | 2 |
| | — |
| | Operating revenues | Other cash flow hedges | | (11 | ) | | (11 | ) | | (1 | ) | | Interest expense | Total before tax | | (35 | ) |
| (9 | ) |
| (1 | ) | | | Tax benefit | | 14 |
| | 4 |
| | — |
| | | Net of tax | | $ | (21 | ) |
| $ | (5 | ) |
| $ | (1 | ) | | Comprehensive income | | | | | | | | | | Amortization of pension and other postretirement benefit plan items | | | | | | | | | Prior service costs(b) | | $ | 74 |
| | $ | — |
| | $ | — |
| | | Actuarial losses(b) | | (361 | ) | | — |
| | (6 | ) | | | Total before tax | | (287 | ) |
| — |
|
| (6 | ) | | | Tax benefit | | 112 |
| | — |
| | 2 |
| | | Net of tax | | $ | (175 | ) |
| $ | — |
|
| $ | (4 | ) | | | | | | | | | | | | Total Reclassifications | | $ | (196 | ) |
| $ | (5 | ) |
| $ | (5 | ) | | Comprehensive income |
_____________________ | | (a) | Amounts in parenthesis represent a decrease in net income. |
| | (b) | This accumulated other comprehensive income component is included in the computation of net periodic pension and OPEB cost (see Note 17 — Retirement Benefits for additional details). |
| | (c) | Amortization of the deferred compensation unit plan is allocated to capital and operating and maintenance expense. |
The following table presents income tax expense (benefit) allocated to each component of other comprehensive income (loss) during the years ended December 31, 2016 and 2015: | | | | | | | | | | | | | | For the Years Ended December 31, | | 2016 | | 2015 | | 2014 | Exelon | | | | | | Pension and non-pension postretirement benefit plans: | | | | | | Prior service benefit reclassified to periodic benefit cost | $ | 30 |
| | $ | 30 |
| | $ | 19 |
| Actuarial loss reclassified to periodic cost | (118 | ) | | (140 | ) | | (93 | ) | Pension and non-pension postretirement benefit plan valuation adjustment | 115 |
| | 62 |
| | 317 |
| Change in unrealized (gain) loss on cash flow hedges | — |
| | (6 | ) | | 96 |
| Change in unrealized (gain) loss on equity investments | 3 |
| | 1 |
| | 73 |
| Total | $ | 30 |
| | $ | (53 | ) |
| $ | 412 |
| | | | | | | Generation | | | | | | Change in unrealized loss on cash flow hedges | $ | (2 | ) | | $ | 2 |
| | $ | 84 |
| Change in unrealized (gain) loss on equity investments | 3 |
| | 1 |
| | 73 |
| Total | $ | 1 |
| | $ | 3 |
|
| $ | 157 |
|
| | | | | | | | | | | | | | Predecessor | | January 1 to
March 23, | | For the Years Ended December 31, | PHI | 2016 | | 2015 | | 2014 | Pension and non-pension postretirement benefit plans: | | | | | | Actuarial loss reclassified to periodic cost | $ | — |
| | $ | 6 |
| | $ | 5 |
|
|