XML 179 R52.htm IDEA: XBRL DOCUMENT v3.6.0.2
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Income tax expense (benefit) from continuing operations is comprised of the following components:

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
Predecessor
 
For the Year Ended December 31, 2016
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
 
 
PHI
Included in operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
$
60

 
$
513

 
$
(135
)
 
$
63

 
$
51

 
$
(118
)
 
$
(88
)
 
$
(26
)
 
$
(281
)
 
 
$
—

Deferred
607

 
(247
)
 
379

 
72

 
88

 
136

 
97

 
22

 
283

 
 
10

Investment tax credit amortization
(24
)
 
(20
)
 
(2
)
 
—

 
(1
)
 
—

 
—

 
—

 
(1
)
 
 
—

State
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
39

 
45

 
(4
)
 
9

 
5

 
7

 
1

 
—

 
(11
)
 
 
—

Deferred
79

 
(1
)
 
63

 
5

 
31

 
16

 
12

 
—

 
13

 
 
7

Total
$
761

 
$
290

 
$
301

 
$
149

 
$
174

 
$
41

 
$
22

 
$
(4
)
 
$
3

 
 
$
17

 
For the Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 Exelon
 
 Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
Included in operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
$
407

 
$
546

 
$
(80
)
 
$
64

 
$
25

 
$
(54
)
 
$
(27
)
 
$
(2
)
 
$
12

Deferred
566

 
16

 
310

 
69

 
126

 
126

 
73

 
27

 
103

Investment tax credit amortization
(22
)
 
(19
)
 
(2
)
 
—

 
(1
)
 
—

 
—

 
—

 
(1
)
State
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
(86
)
 
(90
)
 
7

 
(10
)
 
—

 
6

 
2

 
3

 
17

Deferred
208

 
49

 
45

 
20

 
39

 
24

 
1

 
5

 
32

Total
$
1,073


$
502


$
280


$
143


$
189


$
102


$
49


$
33


$
163

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 Exelon
 
 Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
Included in operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
$
121

 
$
360

 
$
(171
)
 
$
28

 
$
24

 
$
(79
)
 
$
(45
)
 
$
(6
)
 
$
(153
)
Deferred
576

 
(35
)
 
395

 
87

 
90

 
150

 
98

 
31

 
261

Investment tax credit amortization
(20
)
 
(16
)
 
(2
)
 
—

 
(1
)
 
—

 
(1
)
 
(1
)
 
(1
)
State
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
42

 
35

 
7

 
(2
)
 
—

 
(2
)
 
—

 
(1
)
 
(10
)
Deferred
(53
)
 
(137
)
 
39

 
1

 
27

 
24

 
13

 
7

 
41

Total
$
666


$
207


$
268


$
114


$
140


$
93


$
65


$
30


$
138


following tables represent the net interest and penalties receivable (payable), including interest and penalties related to tax positions reflected in the Registrants’ Consolidated Balance Sheets.
 
Net interest receivable (payable) as of
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
December 31, 2016
$
(507
)
 
$
46

 
$
(384
)
 
$
8

 
$
(1
)
 
$
1

 
$
—

 
$
1

December 31, 2015
(288
)
 
80

 
(210
)
 
3

 
(1
)
 
20

 
3

 
24


Net penalties receivable (payable) as of
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
December 31, 2016
$
(106
)
 
$
—

 
$
(86
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

December 31, 2015
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—



 
Successor
 
 
Predecessor
PHI
December 31, 2016
 
 
December 31, 2015
Net interest receivable (payable)
$
2

 
 
$
(34
)
Net penalties receivable (payable)
—

 
 
—


Th
Effective Income Tax Rate Reconciliation
The effective income tax rate from continuing operations varies from the U.S. Federal statutory rate principally due to the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
Predecessor
 
For the Year Ended December 31, 2016
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL (a)
 
ACE (a)
 
PHI (a)
 
 
PHI
U.S. Federal statutory rate
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
 
35.0
 %
Increase (decrease) due to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
State income taxes, net of Federal income tax benefit (b)
3.3

 
3.3

 
5.6

 
1.3

 
5.0

 
15.7

 
52.7

 
6.2

 
5.8

 
 
11.9

Qualified nuclear decommissioning trust fund loss
3.4

 
7.8

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
—

Domestic production activities deduction
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
—

Health care reform legislation
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
—

Amortization of investment tax credit, including deferred taxes on basis difference
(1.2
)
 
(2.3
)
 
(0.3
)
 
(0.1
)
 
(0.1
)
 
(0.2
)
 
(3.7
)
 
0.8

 
1.4

 
 
(0.9
)
Plant basis differences
(4.8
)
 
—

 
(0.6
)
 
(9.6
)
 
(2.7
)
 
(22.8
)
 
(25.5
)
 
10.3

 
39.0

 
 
(13.5
)
Production tax credits and other credits
(3.6
)
 
(8.2
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
—

Noncontrolling interests
(0.2
)
 
(0.3
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
—

Statute of limitations expiration
(0.4
)
 
(1.7
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
—

Penalties
1.9

 
—

 
4.5

 
—

 
—

 
—

 
—

 
—

 
(0.7
)
 
 
—

Merger Expenses
5.5

 
1.1

 
—

 
—

 
—

 
23.5

 
112.9

 
(44.9
)
 
(89.0
)
 
 
11.1

Other (c)
(0.6
)
 
(1.5
)
 
0.1

 
(1.2
)
 
—

 
(1.8
)
 
(2.2
)
 
1.3

 
3.3

 
 
3.6

Effective income tax rate
38.3
 %
 
33.2
 %
 
44.3
 %
 
25.4
 %
 
37.2
 %

49.4
 %

169.2
 %

8.7
 %

(5.2
)%

 
47.2
 %




 
For the Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
U.S. Federal statutory rate
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
Increase (decrease) due to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
State income taxes, net of Federal income tax benefit
3.7

 
1.0

 
4.9

 
1.0

 
5.3

 
6.7

 
1.7

 
5.7

 
6.6

Qualified nuclear decommissioning trust fund income
(0.4
)
 
(0.8
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Domestic production activities deduction
(0.7
)
 
(1.3
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Health care reform legislation
—

 
—

 
—

 
—

 
0.1

 
—

 
—

 
—

 
—

Amortization of investment tax credit, including deferred taxes on basis difference
(0.9
)
 
(1.5
)
 
(0.3
)
 
(0.1
)
 
(0.1
)
 
(0.1
)
 
(0.4
)
 
(0.6
)
 
(0.2
)
Plant basis differences
(1.5
)
 
—

 
(0.1
)
 
(8.7
)
 
(0.7
)
 
(5.8
)
 
(2.3
)
 
(1.3
)
 
(4.3
)
Production tax credits and other credits
(1.9
)
 
(3.4
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Noncontrolling interests
0.3

 
0.5

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Statute of limitations expiration
(1.4
)
 
(2.4
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other (d)
—

 
—

 
0.2

 
0.2

 
—

 
(0.5
)
 
5.2

 
6.4

 
(3.2
)
Effective income tax rate
32.2
 %

27.1
 %

39.7
 %

27.4
 %

39.6
 %

35.3
 %

39.2
 %

45.2
 %

33.9
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE 
 
Pepco
 
DPL
 
ACE
 
PHI
U.S. Federal statutory rate
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
Increase (decrease) due to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
State income taxes, net of Federal income tax benefit
1.3

 
(1.9
)
 
4.5

 
(0.1
)
 
5.0

 
5.4

 
4.8

 
5.8

 
5.3

Qualified nuclear decommissioning trust fund income
2.4

 
4.8

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Domestic production activities deduction
(2.0
)
 
(4.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Health care reform legislation
0.1

 
—

 
0.2

 
—

 
0.2

 
—

 
—

 
—

 
—

Amortization of investment tax credit, including deferred taxes on basis difference
(1.1
)
 
(2.0
)
 
(0.3
)
 
(0.1
)
 
(0.3
)
 
(0.1
)
 
(0.3
)
 
(0.6
)
 
(0.3
)
Plant basis differences
(1.9
)
 
—

 
(0.1
)
 
(10.4
)
 
0.2

 
(4.9
)
 
(2.4
)
 
(0.5
)
 
(4.5
)
Production tax credits and other credits
(2.4
)
 
(4.8
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Noncontrolling interests
(1.8
)
 
(3.7
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Statute of limitations expiration
(2.6
)
 
(5.3
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other
(0.2
)
 
(1.1
)
 
0.3

 
0.1

 
(0.2
)
 
(0.2
)
 
1.4

 
(0.2
)
 
0.8

Effective income tax rate
26.8
 %

16.9
 %

39.6
 %

24.5
 %

39.9
 %

35.2
 %

38.5
 %

39.5
 %

36.3
 %
_____________________
(a) DPL and ACE recognized a loss before income taxes for the year ended December 31, 2016, and PHI recognized a loss before income taxes for the period of March 24, 2016, through December 31, 2016. As a result, positive percentages represent an income tax benefit for the periods presented.
(b) Includes a remeasurement of uncertain state income tax positions for Pepco and DPL.
(c)
At PECO, includes a cumulative adjustment related to an anticipated gas repairs tax return accounting method change.
(d) Includes impacts of the PHI Global Settlement for Pepco, DPL, ACE, and PHI
Tax Effects of Temporary Differences
The tax effects of temporary differences and carryforwards, which give rise to significant portions of the deferred tax assets (liabilities), as of December 31, 2016 and 2015 are presented below:
 
 
As of December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
Plant basis differences
$
(17,966
)
 
$
(4,192
)
 
$
(5,034
)
 
$
(3,095
)
 
$
(1,977
)
 
$
(1,678
)
 
$
(973
)
 
$
(869
)
 
$
(3,586
)
Accrual based contracts
434

 
(115
)
 
—

 
—

 
—

 
—

 
—

 
—

 
548

Derivatives and other financial instruments
(179
)
 
(162
)
 
(3
)
 
—

 
—

 
—

 
—

 
—

 
(1
)
Deferred pension and postretirement obligation
2,287

 
(316
)
 
(453
)
 
(18
)
 
(43
)
 
(122
)
 
(74
)
 
(21
)
 
(111
)
Nuclear decommissioning activities
(509
)
 
(509
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Deferred debt refinancing costs
325

 
44

 
(13
)
 
(1
)
 
(3
)
 
(7
)
 
(4
)
 
(2
)
 
293

Regulatory assets and liabilities
(3,319
)
 
—

 
(226
)
 
10

 
(240
)
 
(194
)
 
(75
)
 
(69
)
 
(1,205
)
Tax loss carryforward
189

 
61

 
29

 
—

 
22

 
27

 
39

 
14

 
77

Tax credit carryforward
446

 
493

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Investment in CENG
(650
)
 
(650
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other, net
1,485

 
403

 
351

 
99

 
27

 
66

 
34

 
34

 
225

Deferred income tax liabilities (net)
$
(17,457
)
 
$
(4,943
)
 
$
(5,349
)
 
$
(3,005
)
 
$
(2,214
)

$
(1,908
)

$
(1,053
)

$
(913
)

$
(3,760
)
Unamortized investment tax credits
(658
)
 
(626
)
 
(15
)
 
(1
)
 
(5
)
 
(2
)
 
(3
)
 
(4
)
 
(9
)
Total deferred income tax liabilities (net) and
unamortized investment tax credits
$
(18,115
)
 
$
(5,569
)
 
$
(5,364
)
 
$
(3,006
)
 
$
(2,219
)

$
(1,910
)

$
(1,056
)

$
(917
)

$
(3,769
)

 
 
As of December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
Plant basis differences
$
(13,393
)
 
$
(4,269
)
 
$
(4,424
)
 
$
(2,901
)
 
$
(1,821
)
 
$
(1,599
)
 
$
(915
)
 
$
(791
)
 
$
(3,342
)
Accrual based contracts
(136
)
 
(136
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Derivatives and other financial instruments
(203
)
 
(181
)
 
(4
)
 
—

 
—

 
—

 
—

 
—

 
(1
)
Deferred pension and postretirement obligation
1,801

 
(371
)
 
(505
)
 
(9
)
 
(47
)
 
(95
)
 
(82
)
 
(20
)
 
(92
)
Nuclear decommissioning activities
(592
)
 
(592
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Deferred debt refinancing costs
133

 
48

 
(15
)
 
(1
)
 
(4
)
 
(8
)
 
(4
)
 
(3
)
 
(15
)
Regulatory assets and liabilities
(1,706
)
 
—

 
(219
)
 
16

 
(264
)
 
(202
)
 
(91
)
 
(93
)
 
(414
)
Tax loss carryforward
103

 
56

 
—

 
—

 
33

 
141

 
122

 
8

 
378

Tax credit carryforward
327

 
374

 
—

 
—

 
—

 
—

 
—

 
—

 
6

Investment in CENG
(595
)
 
(595
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other, net
1,112

 
425

 
270

 
105

 
27

 
42

 
29

 
18

 
103

Deferred income tax liabilities (net)
$
(13,149
)
 
$
(5,241
)
 
$
(4,897
)
 
$
(2,790
)
 
$
(2,076
)

$
(1,721
)

$
(941
)

$
(881
)

$
(3,377
)
Unamortized investment tax credits
(622
)
 
(598
)
 
(17
)
 
(2
)
 
(5
)
 
(2
)
 
(4
)
 
(4
)
 
(15
)
Total deferred income tax liabilities (net) and
unamortized investment tax credits
$
(13,771
)
 
$
(5,839
)
 
$
(4,914
)
 
$
(2,792
)
 
$
(2,081
)

$
(1,723
)

$
(945
)

$
(885
)

$
(3,392
)
Summary of Loss Carryforwards
The following table provides the Registrants’ carryforwards and any corresponding valuation allowances as of December 31, 2016.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
 
Federal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal net operating loss
$
282

(a) 

$
11

 
$
82

 
$
—

 
$
—

 
$
44

 
$
38

 
$
18

 
$
121

 
Deferred taxes on Federal net operating loss
99

 
4

 
29

 
—

 
—

 
15

 
13

 
6

 
42

 
Federal general business credits carryforwards
511

(b) 
509

 
1

 
—

 
1

 
—

 
—

 
—

 
—

 
State
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
State net operating losses and credit carryforwards
3,501

(c) 
1,245

(c) 
—

 
—

 
425

(d) 
360

(e) 
639

(f) 
272

(g) 
1,522

(h) 
Deferred taxes on state tax attributes (net)
186

 
65

 
—

 
—

 
23

 
20

 
36

 
16

 
86

 
Valuation allowance on state tax attributes
20

 
9

 
—

 
—

 
1

 
—

 
—

 
—

 
10

 
_____________________
(a)
Exelon's federal net operating loss will begin expiring in 2032.
(b)
Exelon’s federal general business credit carryforwards will begin expiring in 2033.
(c)
Exelon’s and Generation's state net operating losses and credit carryforwards, which are presented on a post-apportioned basis, will begin expiring in 2017.
(d)
BGE's state net operating loss carryforwards, which are presented on a post-apportioned basis, will begin expiring in 2026.
(e)
Pepco's state net operating loss carryforwards, which are presented on a post-apportioned basis, will begin expiring in 2028.
(f)
DPL's state net operating loss carryforwards, which are presented on a post-apportioned basis, will begin expiring in 2023.
(g)
ACE's state net operating loss carryforwards, which are presented on a post-apportioned basis, will begin expiring in 2032.
(h)
PHI's state net operating loss carryforwards, which are presented on a post-apportioned basis, will begin expiring in 2023.
Reconciliation of Unrecognized Tax Benefits Excluding Amounts Pertaining to Examined Tax Returns Foll Forward
following tables provide a reconciliation of the Registrants’ unrecognized tax benefits as of December 31, 2016, 2015 and 2014:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
Unrecognized tax benefits at January 1, 2016
$
1,078

 
$
534

 
$
142

 
$
—

 
$
120

 
$
8

 
$
3

 
$
—

 
$
22

Merger balance transfer
22

 
5

 
—

 
—

 
—

 
—

 
—

 
—

 
(5
)
Increases based on tax positions related to 2016
108

 
10

 
—

 
—

 
—

 
21

 
16

 
22

 
59

Change to positions that only affect timing
(332
)
 
(12
)
 
(154
)
 
—

 
—

 
—

 
—

 
—

 
—

Increases based on tax positions prior to 2016
88

 
—

 
—

 
—

 
—

 
51

 
18

 
—

 
96

Decreases based on tax positions prior to 2016
(21
)
 
(20
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Decrease from settlements with taxing authorities
(27
)
 
(27
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Decreases from expiration of statute of limitations
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Unrecognized tax benefits at December 31, 2016
$
916

 
$
490

 
$
(12
)
 
$
—

 
$
120


$
80


$
37


$
22


$
172


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 

Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
Unrecognized tax benefits at January 1, 2015
$
1,829

 
$
1,357

 
$
149

 
$
44

 
$
—

 
$
—

 
$
—

 
$
—

 
$
702

Increases based on tax positions related to 2015
108

 
—

 
—

 
—

 
106

 
—

 
—

 
—

 
—

Change to positions that only affect timing
(705
)
 
(659
)
 
(7
)
 
(44
)
 
—

 
—

 
—

 
—

 
(688
)
Increases based on tax positions prior to 2015
79

 
65

 
—

 
—

 
14

 
8

 
3

 
—

 
11

Decreases based on tax positions prior to 2015
(116
)
 
(112
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Decrease from settlements with taxing authorities
(31
)
 
(31
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Decreases from expiration of statute of limitations
(86
)
 
(86
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(3
)
Unrecognized tax benefits at December 31, 2015
$
1,078


$
534


$
142


$
—


$
120


$
8


$
3


$
—


$
22


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
 
PHI
Unrecognized tax benefits at January 1, 2014
$
2,175

 
$
1,415

 
$
324

 
$
44

 
$
—

 
$
45

 
$
3

 
$
3

 
$
743

Increases based on tax positions related to 2014
15

 
15

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Change to positions that only affect timing
(255
)
 
33

 
(175
)
 
—

 
—

 
(45
)
 
(3
)
 
(3
)
 
(41
)
Increases based on tax positions prior to 2014
18

 
18

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Decreases based on tax positions prior to 2014
(1
)
 
(2
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Decreases from settlements with taxing authorities
(35
)
 
(34
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Decreases from expiration of statute of limitations
(88
)
 
(88
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Unrecognized tax benefits at December 31, 2014
$
1,829

 
$
1,357

 
$
149

 
$
44

 
$
—


$
—


$
—


$
—


$
702
Interest Income and Interest Expense Disclosure [Table Text Block]
following tables set forth the net interest and penalty expense, including interest and penalties related to tax positions, recognized in Interest expense, net and Other, net in Other income and deductions in the Registrants’ Consolidated Statements of Operations and Comprehensive Income.
 
Net interest expense (income) for the years ended
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
December 31, 2016
$
165

 
$
(13
)
 
$
117

 
$
—

 
$
—

 
$
6

 
$
—

 
$
(1
)
December 31, 2015
(13
)
 
(31
)
 
7

 
—

 
—

 
(4
)
 
—

 
—

December 31, 2014
(36
)
 
(50
)
 
6

 
—

 
1

 
(1
)
 
—

 
(1
)
 
Net penalty expense (income) for the years ended
Exelon
 
Generation
 
ComEd
 
PECO
 
BGE
 
Pepco
 
DPL
 
ACE
December 31, 2016
$
106

 
$
—

 
$
86

—

$
—

 
$
—

 
$
—

 
$
—

 
$
—

December 31, 2015
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

December 31, 2014
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—



 
Successor
 
 
Predecessor
PHI
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
 
December 31, 2015
 
December 31, 2014
Net interest expense (income)
$
(2
)
 
 
$
—

 
$
(34
)
 
$
—

Net penalty expense (income)
—

 
 
—

 
—

 
—



D
Summary of Open Tax Years by Jurisdiction
ription of tax years that remain open to assessment by major jurisdiction
 
Taxpayer
Open Years
Exelon (and predecessors) and subsidiaries consolidated Federal income tax returns
1999, 2001-2015
PHI Holdings and subsidiaries consolidated Federal income tax returns
2013-2015
Exelon and subsidiaries Illinois unitary income tax returns
2010-2015
Constellation combined New York corporate income tax returns
2010-March 2012
Exelon combined New York corporate income tax returns

2011-2015
Various separate company (excluding PECO) Pennsylvania corporate net income tax returns
2011-2015
PECO Pennsylvania separate company returns
2010-2015

DPL Delaware separate company returns
Same as Federal
ACE New Jersey separate company returns
2012-2015
Various separate company Maryland corporate net income tax returns
Same as Federal
Washington D.C. corporate income tax returns
2013-2015

 
O