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Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Schedule Of Pension And Other Postretirement Participation
The table below shows the pension and other postretirement benefit plans in which employees of each operating company participated at December 31, 2017:
 
 
Operating Company(e)
Name of Plan:
 
Generation
 
ComEd
 
PECO
 
BGE
 
BSC
 
PHI
 
Pepco
 
DPL
 
ACE
Qualified Pension Plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exelon Corporation Retirement Program(a)
 
X
  
X
  
X
  
X
 
X
 
 
 
 
 
 
 
 
Exelon Corporation Cash Balance Pension Plan(a)
 
X
  
X
  
X
  
X
 
X
 
 
 
 
 
 
 
 
Exelon Corporation Pension Plan for Bargaining Unit Employees(a)
 
X
  
X
  
 
 
 
 
X
 
 
 
 
 
 
 
 
Exelon New England Union Employees Pension Plan(a)
 
X
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exelon Employee Pension Plan for Clinton, TMI and Oyster Creek(a)
 
X
  
X
  
X
 
 
 
X
 
 
 
 
 
 
 
 
Pension Plan of Constellation Energy Group, Inc.(b)
 
X
  
X
 
X
 
X
  
X
 
 
 
 
 
 
 
 
Pension Plan of Constellation Energy Nuclear Group, LLC(c)
 
X
 
X
 
 
 
X
 
X
 
 
 
 
 
 
 
 
Nine Mile Point Pension Plan(c)
 
X
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
Constellation Mystic Power, LLC Union Employees Pension Plan Including Plan A and Plan B(b)

 
X
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pepco Holdings LLC Retirement Plan(d)
 
X
 
 
 
 
 
 
 
 
 
X
 
X
 
X
 
X
Non-Qualified Pension Plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exelon Corporation Supplemental Pension Benefit Plan and 2000 Excess Benefit Plan(a)
 
X
  
X
  
X
  
 
 
X
 
 
 
 
 
 
 
 
Exelon Corporation Supplemental Management Retirement Plan(a)
 
X
  
X
  
X
  
X
 
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Senior Executive Supplemental Plan(b)
 
X
  
 
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Supplemental Pension Plan(b)
 
X
  
 
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Benefits Restoration Plan(b)
 
X
  
X
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Nuclear Plan, LLC Executive Retirement Plan(c) 
 
X
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
Constellation Energy Nuclear Plan, LLC Benefits Restoration Plan(c)
 
X
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
Baltimore Gas & Electric Company Executive Benefit Plan(b)
 
X
  
 
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Baltimore Gas & Electric Company Manager Benefit Plan(b)

 
X
  
X
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Pepco Holdings LLC 2011 Supplemental Executive Retirement Plan(d)
 
X
 
 
 
 
 
 
 
 
 
X
 
X
 
X
 
X
Conectiv Supplemental Executive Retirement Plan (d)

 
X
 
 
 
 
 
 
 
 
 
X
 
 
 
X
 
X
Pepco Holdings LLC Combined Executive Retirement Plan (d)

 
X
 
 
 
 
 
 
 
 
 
X
 
X
 
 
 
 
Atlantic City Electric Director Retirement Plan (d)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
X
 
 
Operating Company(e)
Name of Plan:
 
Generation
 
ComEd
 
PECO
 
BGE
 
BSC
 
PHI
 
Pepco
 
DPL
 
ACE
Other Postretirement Benefit Plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PECO Energy Company Retiree Medical Plan(a)
 
X
  
X
 
X
  
X
 
X
 
 
 
 
 
 
 
 
Exelon Corporation Health Care Program(a)
 
X
  
X
  
X
 
X
 
X
 
 
 
 
 
 
 
 
Exelon Corporation Employees’ Life Insurance Plan(a)
 
X
  
X
  
X
  
X
 
X
 
 
 
 
 
 
 
 
Exelon Corporation Health Reimbursement Arrangement Plan(a)
 
X
  
X
  
X
  
X
 
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Retiree Medical Plan(b)
 
X
  
X
 
X
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Retiree Dental Plan(b)
 
X
  
 
 
 
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Energy Group, Inc. Employee Life Insurance Plan and Family Life Insurance Plan(b)
 
X
  
X
 
X
 
X
  
X
 
 
 
 
 
 
 
 
Constellation Mystic Power, LLC
Post-Employment Medical Account Savings Plan(b)
 
X
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exelon New England Union Post-Employment Medical Savings Account Plan(a)
 
X
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retiree Medical Plan of Constellation Energy Nuclear Group LLC(c)
 
X
 
 
 
 
 
X
 
X
 
 
 
 
 
 
 
 
Retiree Dental Plan of Constellation Energy Nuclear Group LLC(c)
 
X
 
 
 
 
 
X
 
X
 
 
 
 
 
 
 
 
Nine Mile Point Nuclear Station, LLC Medical Care and Prescription Drug Plan for Retired Employees(c)
 
X
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
Pepco Holdings LLC Welfare Plan for Retirees(d)
 
X
 
 
 
 
 
 
 
 
 
X
 
X
 
X
 
X
______________________
(a)
These plans are collectively referred to as the legacy Exelon plans.
(b)
These plans are collectively referred to as the legacy Constellation Energy Group (CEG) Plans.
(c)
These plans are collectively referred to as the legacy CENG plans.
(d)
These plans are collectively referred to as the legacy PHI plans.
(e)
Employees generally remain in their legacy benefit plans when transferring between operating companies.
Defined Benefit Plan Change In Benefit Obligation RollForward
The following tables provide a rollforward of the changes in the benefit obligations and plan assets for the most recent two years for all plans combined:
 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2017
 
2016(a)
 
2017
 
2016(a)
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at beginning of year
$
21,060

 
$
17,753

 
$
4,457

 
$
3,938

Service cost
387

 
354


106

 
107

Interest cost
842

 
830


182

 
185

Plan participants’ contributions
—

 
—

 
53

 
54

Actuarial loss (gain)
1,182

 
567

 
350

 
(136
)
Plan amendments
9

 
(60
)
 
—

 
—

Acquisitions/divestitures(b)
16

 
2,667

 
17

 
589

Settlements
(34
)
 
—


—

 
—

Gross benefits paid
(1,125
)
 
(1,051
)

(309
)
 
(280
)
Net benefit obligation at end of year
$
22,337

 
$
21,060

 
$
4,856

 
$
4,457

 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2017
 
2016(a)
 
2017
 
2016(a)
Change in plan assets:
 
 
 
 
 
 
 
Fair value of net plan assets at beginning of year
$
16,791

 
$
14,347

 
$
2,578

 
$
2,293

Actual return on plan assets
2,600

 
1,061

 
346

 
128

Employer contributions
341


347


64


50

Plan participants’ contributions
—

 
—

 
53

 
54

Gross benefits paid
(1,125
)

(1,051
)

(309
)

(280
)
Acquisitions/divestitures(b)
—

 
2,087

 
—

 
333

Settlements
(34
)

—


—


—

Fair value of net plan assets at end of year
$
18,573

 
$
16,791

 
$
2,732

 
$
2,578

 
Predecessor
 
Pension Benefits
 
Other
Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016
 
January 1, 2016 to March 23, 2016
Change in benefit obligation:
 
 
 
Net benefit obligation at beginning of the period
$
2,490

 
$
563

Service cost
12

 
1

Interest cost
26

 
6

Actuarial (gain) loss
(30
)
 
(5
)
Gross benefits paid
(2
)
 
(1
)
Net benefit obligation at end of the period
$
2,496

 
$
564

 
Predecessor
 
Pension Benefits
 
Other
Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016
 
January 1, 2016 to March 23, 2016
Change in plan assets:
 
 
 
Fair value of net plan assets at beginning of the period
$
2,018

 
$
348

Employer and plan participant contributions
4

 
1

Gross benefits paid by plan
(2
)
 
(1
)
Fair value of net plan assets at end of the period
$
2,020

 
$
348

__________ 
(a)
2016 amounts include PHI for the period of March 24, 2016 through December 31, 2016.
(b)
Exelon recorded pension and OPEB obligations associated with its acquisition of Fitzpatrick on March 31, 2017. Effective March 23, 2016, Exelon became the sponsor of PHI's defined benefit pension and other postretirement benefit plans.
Schedule of Amounts Recognized in Balance Sheet
Exelon presents its benefit obligations and plan assets net on its balance sheet within the following line items:
 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2017
 
2016(a)
 
2017
 
2016(a)
Other current liabilities
$
28

 
$
21

 
$
31

 
$
31

Pension obligations
3,736


4,248


—


—

Non-pension postretirement benefit obligations
—

 
—

 
2,093


1,848

Unfunded status (net benefit obligation less plan assets)
$
3,764


$
4,269


$
2,124


$
1,879


__________ 
(a)
Effective March 23, 2016, Exelon became the sponsor of PHI's defined benefit pension and other postretirement benefit plans, and assumed PHI's benefit plan obligations and related assets.
Schedule of Defined Benefit Plans Disclosures
The following tables present the components of Exelon’s net periodic benefit costs, prior to capitalization, for the years ended December 31, 2017, 2016 and 2015 and PHI's net periodic benefit costs, prior to capitalization, for the predecessor period of January 1, 2016 to March 23, 2016.
 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2017(a)
 
2016(b)
 
2015
 
2017(a)
 
2016(b)
 
2015
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
387


$
354


$
326


$
106


$
107


$
119

Interest cost
842


830


710


182


185


167

Expected return on assets
(1,196
)
 
(1,141
)
 
(1,026
)
 
(162
)
 
(162
)
 
(151
)
Amortization of:
 
 
 
 
 
 
 
 
 
 
 
Prior service cost (credit)
1

 
14

 
13

 
(188
)
 
(185
)
 
(174
)
Actuarial loss
607

 
554

 
571

 
61

 
63

 
80

Settlement and other charges(c)
3

 
2

 
2

 
—

 
—

 
—

Net periodic benefit cost
$
644

 
$
613

 
$
596

 
$
(1
)
 
$
8

 
$
41


__________ 
(a)
FitzPatrick net benefit costs are included for the period after acquisition.
(b)
PHI net periodic benefit costs for the period prior to the merger are not included in the table above.
(c)
2016 amount includes an additional termination benefit for PHI.
 
Predecessor
 
Pension Benefits
 
Other
Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016
 
For the Year Ended December 31, 2015
 
January 1, 2016 to March 23, 2016
 
For the Year Ended December 31, 2015
Components of net periodic benefit cost:
 
 
 
 
 
 
 
Service cost
$
12

 
$
57

 
$
1

 
$
7

Interest cost
26

 
109

 
6

 
24

Expected return on assets
(30
)
 
(140
)
 
(5
)
 
(22
)
Amortization of:
 
 
 
 
 
 
 
Prior service cost (credit)
—

 
2

 
(3
)
 
(13
)
Actuarial loss
14

 
65

 
2

 
8

Net periodic benefit cost
$
22

 
$
93

 
$
1

 
$
4

The following table provides the components of gross accumulated other comprehensive loss and regulatory assets (liabilities) that have not been recognized as components of periodic benefit cost at December 31, 2017 and 2016, respectively, for all plans combined:
 
Exelon
 
Exelon
 
Pension Benefits
 
Other
Postretirement Benefits
 
2017
 
2016(a)
 
2017
 
2016(a)
Prior service (credit) cost
$
(24
)

$
(31
)
 
$
(522
)
 
$
(710
)
Actuarial loss
7,556

 
8,387

 
829

 
724

Total (a)
$
7,532

 
$
8,356

 
$
307

 
$
14

 
 
 
 
 
 
 
 
Total included in AOCI
$
3,896

 
$
4,297

 
$
125

 
$
(42
)
Total included in regulatory assets (liabilities)
$
3,636

 
$
4,059

 
$
182

 
$
56

__________
(a)
Effective March 23, 2016, Exelon became the sponsor of PHI's defined benefit pension and other postretirement benefit plans, and assumed PHI's benefit plan obligations and related assets.
The following table provides the impact to Exelon’s AOCI and regulatory assets (liabilities) at December 31, 2017 as a result of the components of periodic benefit costs that are expected to be amortized in 2018. These estimates are subject to the completion of an actuarial valuation of Exelon’s pension and other postretirement benefit obligations, which will reflect actual census data as of January 1, 2018 and actual claims activity as of December 31, 2017. The valuation is expected to be completed in the first quarter of 2018 for the majority of the benefit plans.
 
Pension Benefits
 
Other
Postretirement Benefits
Prior service cost (credit)
$
2

 
$
(186
)
Actuarial loss
640

 
66

Total (a)
$
642


$
(120
)
__________ 
(a)
Of the $642 million related to pension benefits at December 31, 2017, $317 million and $325 million are expected to be amortized from AOCI and regulatory assets in 2018, respectively. Of the $(120) million related to other postretirement benefits at December 31, 2017, $(65) million and $(55) million are expected to be amortized from AOCI and regulatory assets (liabilities) in 2018, respectively.
Changes In Plan Assets And Benefit Obligations Recognized In OCI And Regulatory Assets
The following tables provide the components of AOCI and regulatory assets (liabilities) for the years ended December 31, 2017, 2016 and 2015 for all plans combined and the components of PHI's predecessor AOCI and regulatory assets (liabilities) for the period January 1, 2016 to March 23, 2016.
 
Pension Benefits
 
Other
Postretirement Benefits
Exelon
2017
 
2016(a)
 
2015
 
2017
 
2016(a)
 
2015
Changes in plan assets and benefit obligations recognized in AOCI and regulatory assets (liabilities):
 
 
 
 
 
 
 
 
 
 
 
Current year actuarial (gain) loss
$
(222
)
 
$
644

 
$
476

 
$
166

 
$
(101
)
 
$
(194
)
Amortization of actuarial loss
(607
)
 
(554
)
 
(571
)
 
(61
)
 
(63
)
 
(80
)
Current year prior service cost (credit)
9

 
(60
)
 
—

 
—

 
—

 
(23
)
Amortization of prior service (cost) credit
(1
)
 
(14
)
 
(13
)
 
188

 
185

 
174

Settlements
(3
)
 
—

 
(2
)
 
—

 
—

 
—

Acquisitions
—

 
994

 
—

 
—

 
94

 
—

Total recognized in AOCI and regulatory assets (liabilities)
$
(824
)

$
1,010

 
$
(110
)
 
$
293


$
115

 
$
(123
)
 
 
 
 
 
 
 
 
 
 
 
 
Total recognized in AOCI
$
(401
)
 
$
51

 
$
(64
)
 
$
168

 
$
20

 
$
(63
)
Total recognized in regulatory assets (liabilities)
$
(423
)
 
$
959

 
$
(46
)
 
$
125

 
$
95

 
$
(60
)
 
Predecessor
 
Pension Benefits
 
Other
Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016
 
For the Year Ended December 31, 2015
 
January 1, 2016 to March 23, 2016
 
For the Year Ended December 31, 2015
Changes in plan assets and benefit
obligations recognized in AOCI and regulatory assets (liabilities):
 
 
 
 
 
 
 
Current year actuarial loss (gain)
$
—

 
$
50

 
$
—

 
$
(39
)
Amortization of actuarial loss
(14
)
 
(65
)
 
(2
)
 
(8
)
Amortization of prior service (cost) credit
—

 
(2
)
 
3

 
13

Total recognized in AOCI and regulatory assets (liabilities) 
$
(14
)
 
$
(17
)
 
$
1

 
$
(34
)
 
 
 
 
 
 
 
 
Total recognized in AOCI
$
(1
)
 
$
(11
)
 
$
—

 
$
—

Total recognized in regulatory assets (liabilities)
$
(13
)
 
$
(6
)
 
$
1

 
$
(34
)
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]
The following table provides the impact to Exelon’s AOCI and regulatory assets (liabilities) at December 31, 2017 as a result of the components of periodic benefit costs that are expected to be amortized in 2018. These estimates are subject to the completion of an actuarial valuation of Exelon’s pension and other postretirement benefit obligations, which will reflect actual census data as of January 1, 2018 and actual claims activity as of December 31, 2017. The valuation is expected to be completed in the first quarter of 2018 for the majority of the benefit plans.
 
Pension Benefits
 
Other
Postretirement Benefits
Prior service cost (credit)
$
2

 
$
(186
)
Actuarial loss
640

 
66

Total (a)
$
642


$
(120
)
__________ 
(a)
Of the $642 million related to pension benefits at December 31, 2017, $317 million and $325 million are expected to be amortized from AOCI and regulatory assets in 2018, respectively. Of the $(120) million related to other postretirement benefits at December 31, 2017, $(65) million and $(55) million are expected to be amortized from AOCI and regulatory assets (liabilities) in 2018, respectively.
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Table Text Block]
The following assumptions were used to determine the benefit obligations for the plans at December 31, 2017, 2016 and 2015. Assumptions used to determine year-end benefit obligations are the assumptions used to estimate the subsequent year’s net periodic benefit costs.
 
Pension Benefits
 
Other Postretirement Benefits
 
Exelon
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
Discount rate
3.62
%
(a)  
4.04
%
(b)  
4.29
%
(c) 
3.61
%
(a)  
4.04
%
(b)  
4.29
%
(c) 
Rate of compensation increase
    
(d) 
    
(e)  
 
(e)  
    
(d)  
    
(e)  
 
(e)  
Mortality table
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)

  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
 
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
 
Health care cost trend on covered charges
N/A
  
N/A
  
N/A
 
5.00% with ultimate trend of 5.00% in 2017
  
  
  
  
  
  
  
5.00% with
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
5.50%
decreasing
to
ultimate
trend of
5.00% in
2017
 
 
Predecessor
 
Predecessor
 
Pension Benefits
 
Other Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016(f)
 
2015
 
January 1, 2016 to March 23, 2016(e)
 
2015
Discount rate
 
 
4.65%/4.55%

(g) 
 
 
4.55
%
Rate of compensation
increase
 
 
5.00
%
 
 
 
5.00
%
Mortality table
 
 
RP-2014 table with improvement scale MP-2015
 
 
 
RP-2014 table with improvement scale MP-2015
Health care cost trend on covered charges
 
 
N/A
 
 
 
6.33% pre-65 and 5.40% post-65
decreasing to ultimate trend of
5.00% in 2020
__________
(a)
The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and other postretirement benefits obligations as of December 31, 2017. Certain benefit plans used individual rates ranging from 3.49% - 3.65% and 3.57% - 3.68% for pension and other postretirement plans, respectively.
(b)
The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and other postretirement benefits obligations as of December 31, 2016. Certain benefit plans used individual rates ranging from 3.66% - 4.11% and 4.00% - 4.17% for pension and other postretirement plans, respectively.
(c)
The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and other postretirement benefits obligations as of December 31, 2015. Certain benefit plans used individual rates ranging from 3.68% - 4.14% and 4.32% - 4.43% for pension and other postretirement plans, respectively.
(d)
3.25% through 2019 and 3.75% thereafter.
(e)
The legacy Exelon, CEG and CENG pension and other postretirement plans used a rate of compensation increase of 3.25% through 2019 and 3.75% thereafter, while the legacy PHI pension and other postretirement plans used a weighted-average rate of compensation increase of 5% for all periods.
(f)
Obligation was not remeasured during this period.
(g)
The discount rate for the qualified and non-qualified pension plans was 4.65% and 4.55%, respectively.
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Table Text Block]
The following assumptions were used to determine the net periodic benefit costs for the plans for the years ended December 31, 2017, 2016 and 2015, as well as for the PHI predecessor period January 1, 2016 to March 23, 2016: 
 
Pension Benefits
 
Other Postretirement Benefits
 
Exelon
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
Discount rate
4.04
%
(a) 
4.29
%
(b) 
3.94
%
(c)  
4.04
%
(a) 
4.29
%
(b) 
3.92
%
(c)  
Expected return on plan assets
7.00
%
(d) 
7.00
%
(d) 
7.00
%
(d) 
6.58
%
(d) 
6.71
%
(d) 
6.50
%
(d) 
Rate of compensation increase
    


(e)  
 

(e)  
 
(e) 
    


(e)  
 

(e)  
 

(e)  
Mortality table
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
  
  
  
  
  
  
  
Health care cost trend on covered charges
N/A
  
N/A
  
N/A
  
5.00%
decreasing
to
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
5.50%
decreasing
to
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
6.00%
decreasing
to
ultimate
trend of
5.00% in
2017
  
  
  
  
  
  
  
 
Predecessor
 
Predecessor
 
Pension Benefits
 
Other Postretirement Benefits
PHI
January 1, 2016 to March 23, 2016
 
2015
 
January 1, 2016 to March 23, 2016
 
2015
Discount rate
4.65%/4.55%

(f) 
4.20
%
 
4.55
%
 
4.15
%
Expected return on plan assets(g)
6.50
%
 
6.50
%
 
6.75
%
 
6.75
%
Rate of compensation
increase
5.00
%
 
5.00
%
 
5.00
%
 
5.00
%
Mortality table
RP-2014 table with improvement scale MP-2015

 
RP-2014 table with improvement scale MP-2014
 
RP-2014 table with improvement scale MP-2015
 
RP-2014 table with improvement scale MP-2014
Health care cost trend on covered charges
N/A
 
N/A
 
6.33% pre-65 and 5.40% post-65
decreasing to ultimate trend of
5.00% in 2020

 
6.67% pre-65 and 5.50% post-65
decreasing to ultimate trend of
5.00% in 2020
__________
(a)
The discount rates above represent the blended rates used to establish the majority of Exelon’s pension and other postretirement benefits costs for the year ended December 31, 2017. Certain benefit plans used individual rates ranging from 3.66%-4.11% and 4.00%-4.17% for pension and other postretirement plans, respectively.
(b)
The discount rates above represent the blended rates used to establish the majority of Exelon's pension and other postretirement benefits costs for the year ended December 31, 2016. Certain benefit plans used individual rates ranging from 3.68%-4.14% and 4.32%-4.43% for pension and other postretirement plans, respectively.
(c)
The discount rates above represent the blended rates used to establish the majority of Exelon’s pension and other postretirement benefits costs for the year ended December 31, 2015. Certain benefit plans used the individual rates ranging from 3.29%-3.82% and 3.99%-4.06% for pension and other postretirement plans, respectively.
(d)
Not applicable to pension and other postretirement benefit plans that do not have plan assets.
(e)
The legacy Exelon, CEG and CENG pension and other postretirement plans used a rate of compensation increase of 3.25% through 2019 and 3.75% thereafter, while the legacy PHI pension and other postretirement plans used a weighted-average rate of compensation increase of 5% for all periods.
(f)
The discount rate for the qualified and non-qualified pension plans was 4.65% and 4.55%, respectively.
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
A one percentage point change in assumed health care cost trend rates would have the following effects:
Effect of a one percentage point increase in assumed health care cost trend:
 
on 2017 total service and interest cost components
$
9

on postretirement benefit obligation at December 31, 2017
125

Effect of a one percentage point decrease in assumed health care cost trend:
 
on 2017 total service and interest cost components
(8
)
on postretirement benefit obligation at December 31, 2017
(113
)
Pension And Other Postretirement Benefit Contributions [Table Text Block]

Qualified Pension Plans

Non-Qualified Pension Plans

Other
Postretirement
Benefits
Exelon
$
301


$
30


$
42

Generation
119


11


13

ComEd
38


2


3

PECO
17


1


—

BGE
41


1


16

BSC
36


7


1

PHI
50


8


9

Pepco
4


2


8

DPL
—


1


—

ACE
6


—


—

PHISCO
40


5


1

The following tables provide contributions to the pension and other postretirement benefit plans:
 
Pension Benefits
 
Other Postretirement Benefits
 
2017(a)
 
2016(a)
 
2015(a)
 
2017
 
2016
 
2015
Exelon
$
341


$
347


$
462


$
64


$
50


$
40

Generation
137

 
140

 
231

 
11

 
12

 
14

ComEd
36

 
33

 
143

 
5

 
5

 
7

PECO
24

 
30

 
40

 
—

 
—

 
—

BGE
39

 
31

 
1

 
14

 
18

 
16

BSC(b)
38

 
39

 
47

 
2

 
3

 
3

Pepco
62

 
24

 
—

 
10

 
8

 
2

DPL
—

 
22

 
—

 
2

 
—

 
—

ACE
—

 
15

 
—

 
20

 
2

 
3

PHISCO (c)
5

 
17

 
—

 
—

 
2

 
—

 
Pension Benefits
 
Other Postretirement Benefits
 
Successor
 
 
Predecessor
 
Successor
 
 
Predecessor
 
2017
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
 
For the Year Ended December 31, 2015
 
2017
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
 
For the Year Ended December 31, 2015
PHI
$
67

 
$
74

 
 
$
4

 
$
—

 
$
32

 
$
12

 
 
$
—

 
$
5

__________
(a)
Exelon's and Generation's pension contributions include $21 million, $25 million and $36 million related to the legacy CENG plans that was funded by CENG as provided in an Employee Matters Agreement (EMA) between Exelon and CENG for the years ended December 31, 2017, 2016 and 2015, respectively.
(b)
Includes $4 million, $6 million, and $5 million of pension contributions funded by Exelon Corporate, for the years ended December 31, 2017, 2016, and 2015, respectively.
(c)
Schedule of Expected Benefit Payments [Table Text Block]
Estimated Future Benefit Payments
Estimated future benefit payments to participants in all of the pension plans and postretirement benefit plans at December 31, 2017 were:
 
Pension
Benefits
 
Other
Postretirement
Benefits
2018
$
1,166

 
$
256

2019
1,165

 
262

2020
1,210

 
270

2021
1,236

 
276

2022
1,265

 
284

2023 through 2027
6,671

 
1,509

Total estimated future benefit payments through 2027
$
12,713


$
2,857
Schedule Of Pension And Other Postretirement Benefit Costs [Table Text Block]
an costs. These amounts include the recognized contractual termination benefit charges, curtailment gains, and settlement charges:
For the Years Ended December 31,
Exelon
 
Generation(a)
 
ComEd
 
PECO
 
BGE
 
BSC(b)
 
Pepco(c)
 
DPL(c)
 
ACE(c)
 
PHISCO(c)(d)
2017
$
643

 
$
227


$
176


$
29

 
$
64

 
$
53

 
$
25

 
$
13

 
$
13

 
$
43

2016
621

 
218


166


33

 
68

 
48

 
31

 
18

 
15

 
47

2015
637

 
269


206


39

 
66

 
57

 
30

 
15

 
15

 
37

 
Successor
 
 
Predecessor
PHI
For the Year Ended December 31, 2017
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
 
For the Year Ended December 31, 2015
Pension and Other Postretirement Benefit Costs
$
94

 
$
88

 
 
$
23

 
$
97

__________
(a)
FitzPatrick net benefit costs are included for the period after acquisition.
(b)
These amounts primarily represent amounts billed to Exelon’s subsidiaries through intercompany allocations. These amounts are not included in the Generation, ComEd, PECO, BGE, PHI, Pepco, DPL or ACE amounts
Defined Benefit Plan Weighted Average Asset Allocations And Target Allocations [Table Text Block]
vely.
Exelon’s pension and other postretirement benefit plan target asset allocations at December 31, 2017 and 2016 asset allocations were as follows:
Pension Plans 
 
 
 
Exelon
 
 
 
Percentage of Plan Assets
at December 31,
Asset Category
Target Allocation
 
2017
 
2016
Equity securities
35
%
 
35
%
 
33
%
Fixed income securities
38
%
 
39

 
39

Alternative investments(a)
27
%
 
26

 
28

Total
 
 
100
%
 
100
%
Other Postretirement Benefit Plans
 
 
 
Exelon
 
 
 
Percentage of Plan Assets
at December 31,
Asset Category
Target Allocation
 
2017
 
2016
Equity securities
46
%
 
47
%
 
47
%
Fixed income securities
28
%
 
28

 
29

Alternative investments(a)
26
%
 
25

 
24

Total
 
 
100
%
 
100
%
__________
(a)
Alternative investments include private equity, hedge funds, real estate, and private credit.
Defined Benefit Plan Fair Value Of Plan Assets [Text Block]
Fair Value Measurements
The following tables present pension and other postretirement benefit plan assets measured and recorded at fair value on the Registrants' Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy at December 31, 2017 and 2016:
Exelon 
December 31, 2017(a)(b)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Pension plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
585

 
$
—

 
$
—

 
$
—

 
$
585

Equities(c)
3,565

 
—

 
2

 
3,077

 
6,644

Fixed income:





 
 
 

U.S. Treasury and agencies
1,150

 
159

 
—

 
—

 
1,309

State and municipal debt
—

 
64

 
—

 
—

 
64

Corporate debt
—

 
3,931

 
232

 
—

 
4,163

Other(c)
—

 
447

 
—

 
756

 
1,203

Fixed income subtotal
1,150


4,601


232

 
756

 
6,739

Private equity
—

 
—

 
—

 
1,034

 
1,034

Hedge funds
—

 
—

 
—

 
1,770

 
1,770

Real estate
—

 
—

 
—

 
884

 
884

Private credit
—

 
—

 
—

 
919

 
919

Pension plan assets subtotal
$
5,300


$
4,601


$
234

 
$
8,440

 
$
18,575

December 31, 2017(a)(b)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Other postretirement benefit plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
29

 
$
—

 
$
—

 
$
—

 
$
29

Equities
523

 
2

 
—

 
764

 
1,289

Fixed income:





 
 
 

U.S. Treasury and agencies
13

 
56

 
—

 
—

 
69

State and municipal debt
—

 
136

 
—

 
—

 
136

Corporate debt
—

 
47

 
—

 
—

 
47

Other
225

 
71

 
—

 
185

 
481

Fixed income subtotal
238


310


—


185

 
733

Hedge funds
—

 
—

 
—

 
430

 
430

Real estate
—

 
—

 
—

 
124

 
124

Private credit
—

 
—

 
—

 
123

 
123

Other postretirement benefit plan assets subtotal
$
790


$
312


$
—

 
$
1,626


$
2,728

Total pension and other postretirement benefit plan assets(d)
$
6,090

 
$
4,913

 
$
234

 
$
10,066

 
$
21,303

December 31, 2016(a)(e)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Pension plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
325

 
$
—

 
$
—

 
$
—

 
$
325

Equities(c)
3,144

 
—

 
2

 
2,535

 
5,681

Fixed income:


 


 


 
 
 


U.S. Treasury and agencies
1,008

 
192

 
—

 
—

 
1,200

State and municipal debt
—

 
64

 
—

 
—

 
64

Corporate debt
—

 
3,641

 
206

 
—

 
3,847

Other(c)
—

 
340

 
—

 
748

 
1,088

Fixed income subtotal
1,008


4,237


206

 
748

 
6,199

Private equity
—

 
—

 
—

 
991

 
991

Hedge funds
—

 
—

 
—

 
1,962

 
1,962

Real estate
—

 
—

 
—

 
828

 
828

Private credit
—

 
—

 
—

 
833

 
833

Pension plan assets subtotal
$
4,477


$
4,237


$
208

 
$
7,897


$
16,819

December 31, 2016(a)(e)
Level 1
 
Level 2
 
Level 3
 
Not subject to leveling
 
Total
Other postretirement benefit plan assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
24

 
$
—

 
$
—

 
$
—

 
$
24

Equities
547

 
2

 
—

 
644

 
1,193

Fixed income:





 
 
 

U.S. Treasury and agencies
9

 
59

 
—

 
—

 
68

State and municipal debt
—

 
134

 
—

 
—

 
134

Corporate debt
—

 
43

 
—

 
—

 
43

Other
256

 
60

 
—

 
131

 
447

Fixed income subtotal
265


296


—

 
131

 
692

Hedge funds
—

 
—

 
—

 
445

 
445

Real estate
—

 
—

 
—

 
117

 
117

Private credit
—

 
—

 
—

 
107

 
107

Other postretirement benefit plan assets subtotal
$
836


$
298


$
—

 
$
1,444

 
$
2,578

Total pension and other postretirement benefit plan assets(d)
$
5,313

 
$
4,535

 
$
208

 
$
9,341

 
$
19,397

__________
(a)
See Note 11—Fair Value of Financial Assets and Liabilities for a description of levels within the fair value hierarchy.
(b)
Effective March 31, 2017, Exelon became sponsor of FitzPatrick's defined benefit pension and other postretirement benefit plans, and assumed FitzPatrick's benefit plan obligations.
(c)
Includes derivative instruments of $6 million and $1 million, which have a total notional amount of $3,606 million and $2,918 million at December 31, 2017 and 2016, respectively. The notional principal amounts for these instruments provide one measure of the transaction volume outstanding as of the fiscal years ended and do not represent the amount of the company’s exposure to credit or market loss.
(d)
Excludes net assets of $2 million and net liabilities of $28 million at December 31, 2017 and 2016, respectively, which are required to reconcile to the fair value of net plan assets. These items consist primarily of receivables related to pending securities sales, interest and dividends receivable, and payables related to pending securities purchases.
(e)
Effective March 23, 2016, Exelon became sponsor of PHI's defined benefit pension and other postretirement benefit plans, and assumed PHI's benefit plan obligations and related assets.
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
rchases.
(e)
Effective March 23, 2016, Exelon became sponsor of PHI's defined benefit pension and other postretirement benefit plans, and assumed PHI's benefit plan obligations and related assets.
The following table presents the reconciliation of Level 3 assets and liabilities measured at fair value for pension and other postretirement benefit plans for the years ended December 31, 2017 and 2016:
Exelon
 
Fixed Income
 
Equities
 
Total
Pension Assets
 
 
 
 
 
Balance as of January 1, 2017
$
206


$
2

 
$
208

Actual return on plan assets:



 


Relating to assets sold during the period
11


—

 
11

Purchases, sales and settlements:



 


Purchases
31


—

 
31

Sales
(16
)

—

 
(16
)
Settlements(a)
—


—

 
—

Balance as of December 31, 2017
$
232


$
2

 
$
234

 
Fixed income
 
Equities
 
Total
Pension Assets
 
 
 
 
 
Balance as of January 1, 2016
$
165


$
2

 
$
167

Actual return on plan assets:



 


Relating to assets still held at the
reporting date
(2
)

—

 
(2
)
Purchases, sales and settlements:



 


Purchases
69


—

 
69

Sales
(14
)

—

 
(14
)
      Settlements(a)
(12
)

—

 
(12
)
Balance as of December 31, 2016
$
206


$
2

 
$
208

__________
(a)
Represents cash settlements only.
Schedule Of Defined Contributions [Table Text Block]
n limits. The following table presents matching contributions to the savings plan for the years ended December 31, 2017, 2016 and 2015:
For the Year Ended December 31,
Exelon(a)
 
Generation(a)
 
ComEd
 
PECO
 
BGE
 
BSC(b)
 
Pepco(c)
 
DPL(c)
 
ACE
 
PHISCO(c)(d)
2017
$
128

 
$
55


$
31


$
10


$
10


$
9

 
$
3

 
$
2

 
$
2

 
$
6

2016
164

 
79


34


10


12


19

 
3

 
2

 
2

 
6

2015
148

 
80


32


11


14


11

 
3

 
2

 
2

 
6

 
Successor
 
 
Predecessor
PHI
For the Year Ended December 31, 2017
 
March 24, 2016 to December 31, 2016
 
 
January 1, 2016 to March 23, 2016
 
For the Year Ended December 31, 2015
Saving Plan Matching Contributions
$
13

 
$
10

 
 
$
3

 
$
14


__________
(a)
Includes $13 million and $9 million related to CENG for the years ended December 31, 2016 and December 31, 2015.
(b)
These amounts primarily represent amounts billed to Exelon’s subsidiaries through intercompany allocations. These costs are not included in the Generation, ComEd, PECO, BGE, PHI, Pepco, DPL or ACE amounts above.
(c)
Pepco's, DPL's and PHISCO's matching contributions include $1 million, $1 million and $1 million, respectively, of costs incurred prior to the closing of Exelon's merger with PHI on March 23, 2016, which is not included in Exelon's matching contributions for the year ended December 31, 2016.
(d)
These amounts primarily represent amounts billed to Pepco, DPL, and ACE through intercompany allocations. These amounts are not included in Pepco, DPL or ACE amounts above.