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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 587 $ 1,349
Restricted cash and cash equivalents 358 247
Accounts receivable, net    
Customer 4,592 4,607
Other 1,583 1,256
Mark-to-market derivative assets, current 679 804
Unamortized energy contract assets, current 47 48
Inventories, net    
Fossil fuel 312 334
Materials and supplies 1,456 1,351
Regulatory assets, current 1,170 1,190
Assets held for sale 0 904
Other 1,253 1,238
Total current assets 12,037 13,328
Property, plant and equipment, net 80,233 76,707
Deferred debits and other assets    
Regulatory assets, noncurrent 8,335 8,237
Nuclear decommissioning trust funds 13,190 11,661
Investments 464 625
Goodwill 6,677 6,677
Mark-to-market derivative assets, noncurrent 508 452
Unamortized energy contract assets, noncurrent 336 372
Other 3,197 1,575
Total deferred debits and other assets 32,707 29,599
Total assets [1] 124,977 119,634
Current liabilities    
Short-term borrowings 1,370 714
Long-term debt due within one year 4,710 1,349
Accounts payable 3,560 3,800
Accrued expenses 1,981 2,112
Payables to affiliates, current 5 5
Regulatory Liability, Current 406 644
Mark-to-market derivative liabilities, current 247 475
Unamortized energy contract liabilities, current 132 149
Renewable energy credit obligation 443 344
Liabilities held for sale 0 777
Other 1,331 1,035
Total current liabilities 14,185 11,404
Long-term debt 31,329 34,075
Long-term debt to financing trusts 390 390
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 12,351 11,321
Asset retirement obligations, noncurrent 10,846 9,679
Pension obligations 4,247 3,988
Non-pension postretirement benefit obligations 2,076 1,928
Spent nuclear fuel obligation 1,199 1,171
Regulatory liabilities, noncurrent 9,986 9,559
Mark-to-market derivative liabilities, noncurrent 393 479
Unamortized energy contract liabilities, noncurrent 338 463
Other 3,064 2,130
Total deferred credits and other liabilities 44,500 40,718
Total liabilities 90,404 86,587 [1]
Commitments and Contingencies
Shareholders’ equity    
Common stock 19,274 19,116
Treasury stock, at cost (123) (123)
Retained earnings/Undistributed earnings 16,267 14,743
Accumulated other comprehensive income (loss), net (3,194) (2,995)
Total shareholders’ equity 32,224 30,741
Member’s equity    
Noncontrolling interests 2,349 2,306
Total equity 34,573 33,047
Total liabilities and equity $ 124,977 $ 119,634
Common Stock, Shares Authorized 2,000,000,000 2,000,000,000
Common Stock, Shares, Outstanding 973,000,000 968,000,000
Variable Interest Entity, Consolidated, Assets, Pledged $ 9,532 $ 9,667
Variable Interest Entity, Consolidated, Liabilities, No Recourse 3,473 3,548
Exelon Generation Co L L C [Member]    
Current assets    
Cash and cash equivalents 303 750
Restricted cash and cash equivalents 146 153
Accounts receivable, net    
Customer 2,893 2,941
Other 619 562
Mark-to-market derivative assets, current 675 804
Receivables from affiliates, current 190 173
Unamortized energy contract assets, current 47 49
Inventories, net    
Fossil fuel and emission allowances 236 251
Materials and supplies 1,026 963
Assets held for sale 0 904
Other 941 883
Total current assets 7,076 8,433
Property, plant and equipment, net 24,193 23,981
Deferred debits and other assets    
Nuclear decommissioning trust funds 13,190 11,661
Investments 235 414
Goodwill 47 47
Mark-to-market derivative assets, noncurrent 508 452
Prepaid pension asset 1,438 1,421
Unamortized energy contract assets, noncurrent 336 371
Deferred income taxes 12 21
Other 1,960 755
Total deferred debits and other assets 17,726 15,142
Total assets [2] 48,995 47,556
Current liabilities    
Short-term borrowings 320 0
Long-term debt due within one year 2,624 906
Long-term debt to affiliates due within one year 558 0
Accounts payable 1,692 1,847
Accrued expenses 786 898
Payables to affiliates, current 117 139
Borrowings from Exelon intercompany money pool 0 100
Mark-to-market derivative liabilities, current 215 449
Unamortized energy contract liabilities, current 17 31
Renewable energy credit obligation 443 343
Liabilities held for sale 0 777
Other 517 279
Total current liabilities 7,289 5,769
Long-term debt 4,464 6,989
Long-term debt to affiliates 328 898
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 3,752 3,383
Asset retirement obligations, noncurrent 10,603 9,450
Non-pension postretirement benefit obligations 878 900
Spent nuclear fuel obligation 1,199 1,171
Payables to affiliates, noncurrent 3,103 2,606
Mark-to-market derivative liabilities, noncurrent 123 252
Unamortized energy contract liabilities, noncurrent 11 20
Other 1,415 610
Total deferred credits and other liabilities 21,084 18,392
Total liabilities [2] 33,165 32,048
Commitments and Contingencies
Shareholders’ equity    
Retained earnings/Undistributed earnings 3,950 3,724
Accumulated other comprehensive income (loss), net (32) (38)
Member’s equity    
Membership interest 9,566 9,518
Total member’s equity 13,484 13,204
Noncontrolling interests 2,346 2,304
Total equity 15,830 15,508
Total liabilities and equity 48,995 47,556
Variable Interest Entity, Consolidated, Assets, Pledged 9,512 9,634
Variable Interest Entity, Consolidated, Liabilities, No Recourse 3,429 3,480
Commonwealth Edison Co [Member]    
Current assets    
Cash and cash equivalents 90 135
Restricted cash and cash equivalents 150 29
Accounts receivable, net    
Customer 545 539
Other 286 320
Receivables from affiliates, current 28 20
Inventories, net    
Inventories, net 159 148
Regulatory assets, current 281 293
Other 44 86
Total current assets 1,583 1,570
Property, plant and equipment, net 23,107 22,058
Deferred debits and other assets    
Regulatory assets, noncurrent 1,480 1,307
Investments 6 6
Goodwill 2,625 2,625
Receivable from affiliates, noncurrent 2,622 2,217
Prepaid pension asset 995 1,035
Other 347 395
Total deferred debits and other assets 8,075 7,585
Total assets 32,765 31,213
Current liabilities    
Short-term borrowings 130 0
Long-term debt due within one year 500 300
Accounts payable 527 607
Accrued expenses 385 373
Payables to affiliates, current 103 119
Customer deposits 118 111
Regulatory Liability, Current 200 293
Mark-to-market derivative liabilities, current 32 26
Other 122 96
Total current liabilities 2,117 1,925
Long-term debt 7,991 7,801
Long-term debt to financing trusts 205 205
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 4,021 3,813
Asset retirement obligations, noncurrent 128 118
Non-pension postretirement benefit obligations 180 201
Regulatory liabilities, noncurrent 6,542 6,050
Mark-to-market derivative liabilities, noncurrent 269 223
Other 635 630
Total deferred credits and other liabilities 11,775 11,035
Total liabilities 22,088 20,966
Commitments and Contingencies
Shareholders’ equity    
Common stock 1,588 1,588
Other paid-in capital 7,572 7,322
Retained earnings (deficit) unappropriated (1,639) (1,639)
Retained earnings (deficit) appropriated 3,156 2,976
Total shareholders’ equity 10,677 10,247
Member’s equity    
Total liabilities and equity 32,765 31,213
PECO Energy Co [Member]    
Current assets    
Cash and cash equivalents 21 130
Restricted cash and cash equivalents 6 5
Accounts receivable, net    
Customer 357 321
Other 138 151
Receivables from affiliates, current 1 0
Due from Affiliates 68 0
Inventories, net    
Fossil fuel 36 38
Materials and supplies 35 37
Regulatory assets, current 41 81
Other 19 19
Total current assets 722 782
Property, plant and equipment, net 9,292 8,610
Deferred debits and other assets    
Regulatory assets, noncurrent 554 460
Investments 27 25
Receivable from affiliates, noncurrent 480 389
Prepaid pension asset 365 349
Other 29 27
Total deferred debits and other assets 1,455 1,250
Total assets 11,469 10,642
Current liabilities    
Accounts payable 387 370
Accrued expenses 101 113
Payables to affiliates, current 55 59
Customer deposits 69 68
Regulatory Liability, Current 91 175
Other 19 24
Total current liabilities 722 809
Long-term debt 3,405 3,084
Long-term debt to financing trusts 184 184
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 2,080 1,933
Asset retirement obligations, noncurrent 28 27
Non-pension postretirement benefit obligations 288 288
Regulatory liabilities, noncurrent 510 421
Other 74 76
Total deferred credits and other liabilities 2,980 2,745
Total liabilities 7,291 6,822
Commitments and Contingencies
Shareholders’ equity    
Common stock 2,766 2,578
Retained earnings/Undistributed earnings 1,412 1,242
Total shareholders’ equity 4,178 3,820
Member’s equity    
Total liabilities and equity 11,469 10,642
Baltimore Gas and Electric Company [Member]    
Current assets    
Cash and cash equivalents 24 7
Restricted cash and cash equivalents 1 6
Accounts receivable, net    
Customer 317 353
Other 147 90
Receivables from affiliates, current 1 1
Inventories, net    
Fossil fuel and emission allowances 30 36
Materials and supplies 46 39
Prepaid utility taxes 78 74
Regulatory assets, current 183 177
Other 6 3
Total current assets 833 786
Property, plant and equipment, net 8,990 8,243
Deferred debits and other assets    
Regulatory assets, noncurrent 454 398
Investments 7 5
Prepaid pension asset 264 279
Other 86 5
Total deferred debits and other assets 811 687
Total assets 10,634 9,716
Current liabilities    
Short-term borrowings 76 35
Accounts payable 243 295
Accrued expenses 152 155
Payables to affiliates, current 66 65
Customer deposits 120 120
Regulatory Liability, Current 33 77
Other 63 27
Total current liabilities 753 774
Long-term debt 3,270 2,876
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,396 1,222
Asset retirement obligations, noncurrent 22 24
Non-pension postretirement benefit obligations 199 201
Regulatory liabilities, noncurrent 1,195 1,192
Other 116 73
Total deferred credits and other liabilities 2,928 2,712
Total liabilities 6,951 6,362
Commitments and Contingencies
Shareholders’ equity    
Common stock 1,907 [3] 1,714
Retained earnings/Undistributed earnings 1,776 1,640
Total shareholders’ equity 3,683 3,354
Member’s equity    
Total liabilities and equity 10,634 9,716
Pepco Holdings LLC [Member]    
Current assets    
Cash and cash equivalents 131 124
Restricted cash and cash equivalents 36 43
Accounts receivable, net    
Customer 479 453
Other 174 177
Receivables from affiliates, current 1 0
Inventories, net    
Fossil fuel and emission allowances 8 9
Materials and supplies 190 163
Regulatory assets, current 412 457
Other 49 75
Total current assets 1,480 1,501
Property, plant and equipment, net 14,296 13,446
Deferred debits and other assets    
Regulatory assets, noncurrent 2,061 2,312
Investments 135 130
Goodwill 4,005 4,005
Prepaid pension asset 406 486
Deferred income taxes 13 12
Other 323 60
Total deferred debits and other assets 6,943 7,005
Total assets 22,719 21,952
Current liabilities    
Short-term borrowings 208 179
Long-term debt due within one year 103 125
Accounts payable 462 496
Accrued expenses 296 256
Payables to affiliates, current 98 94
Other Short-term Borrowings 12 0
Customer deposits 117 116
Regulatory Liability, Current 70 84
Unamortized energy contract liabilities, current 115 119
Other 131 123
Total current liabilities 1,612 1,592
Long-term debt 6,460 6,134
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 2,278 2,137
Asset retirement obligations, noncurrent 57 52
Non-pension postretirement benefit obligations 93 103
Regulatory liabilities, noncurrent 1,707 1,864
Unamortized energy contract liabilities, noncurrent 327 442
Other 577 369
Total deferred credits and other liabilities 5,039 4,967
Total liabilities 13,111 [4] 12,693
Commitments and Contingencies
Shareholders’ equity    
Retained earnings/Undistributed earnings (10) 39
Member’s equity    
Membership interest 9,618 9,220
Total member’s equity 9,608 9,259
Total equity 9,608 9,259
Total liabilities and equity 22,719 21,952
Variable Interest Entity, Consolidated, Assets, Pledged 20 33
Variable Interest Entity, Consolidated, Liabilities, No Recourse 44 69
Potomac Electric Power Company [Member]    
Current assets    
Cash and cash equivalents 30 16
Restricted cash and cash equivalents 33 37
Accounts receivable, net    
Customer 231 225
Other 91 81
Receivables from affiliates, current 0 1
Inventories, net    
Inventories, net 112 93
Regulatory assets, current 188 238
Other 11 37
Total current assets 696 728
Property, plant and equipment, net 6,909 6,460
Deferred debits and other assets    
Regulatory assets, noncurrent 584 643
Investments 110 105
Prepaid pension asset 296 316
Other 66 15
Total deferred debits and other assets 1,056 1,079
Total assets 8,661 8,267
Current liabilities    
Short-term borrowings 82 40
Long-term debt due within one year 2 15
Accounts payable 195 214
Accrued expenses 156 126
Payables to affiliates, current 66 62
Customer deposits 57 54
Regulatory Liability, Current 8 7
Merger related obligation 39 38
Current portion of DC PLUG obligation 30 30
Other 22 42
Total current liabilities 657 628
Long-term debt 2,862 2,704
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,131 1,055
Asset retirement obligations, noncurrent 41 37
Non-pension postretirement benefit obligations 20 29
Regulatory liabilities, noncurrent 746 822
Other 297 275
Total deferred credits and other liabilities 2,235 2,218
Total liabilities 5,754 5,550
Commitments and Contingencies
Shareholders’ equity    
Common stock 1,796 [5] 1,636
Retained earnings/Undistributed earnings 1,111 1,081
Total shareholders’ equity 2,907 2,717
Member’s equity    
Total liabilities and equity 8,661 8,267
Delmarva Power & Light Company [Member]    
Current assets    
Cash and cash equivalents 13 23
Restricted cash and cash equivalents 0 1
Accounts receivable, net    
Customer 141 134
Other 38 46
Inventories, net    
Fossil fuel and emission allowances 8 9
Materials and supplies 44 37
Prepaid utility taxes 18 17
Regulatory assets, current 52 59
Other 11 10
Total current assets 325 336
Property, plant and equipment, net 4,035 3,821
Deferred debits and other assets    
Regulatory assets, noncurrent 222 231
Investments 0 0
Goodwill 8 8
Prepaid pension asset 171 186
Other 69 6
Total deferred debits and other assets 470 431
Total assets 4,830 4,588
Current liabilities    
Short-term borrowings 56 0
Long-term debt due within one year 80 91
Accounts payable 112 111
Accrued expenses 46 39
Payables to affiliates, current 32 33
Customer deposits 36 35
Regulatory Liability, Current 37 59
Other 15 7
Total current liabilities 414 375
Long-term debt 1,487 1,403
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 655 628
Non-pension postretirement benefit obligations 16 17
Regulatory liabilities, noncurrent 574 606
Other 104 50
Total deferred credits and other liabilities 1,349 1,301
Total liabilities 3,250 3,079
Commitments and Contingencies  
Shareholders’ equity    
Common stock 977 [6] 914
Retained earnings/Undistributed earnings 603 595
Total shareholders’ equity 1,580 1,509
Member’s equity    
Total liabilities and equity 4,830 4,588
Atlantic City Electric Company [Member]    
Current assets    
Cash and cash equivalents 12 7
Restricted cash and cash equivalents 2 4
Accounts receivable, net    
Customer 108 95
Other 48 55
Receivables from affiliates, current 4 1
Inventories, net    
Inventories, net 34 33
Regulatory assets, current 57 40
Other 5 5
Total current assets 270 240
Property, plant and equipment, net 3,190 2,966
Deferred debits and other assets    
Regulatory assets, noncurrent 368 386
Investments 0 0
Prepaid pension asset 52 67
Other 53 40
Total deferred debits and other assets 473 493
Total assets [7] 3,933 3,699
Current liabilities    
Short-term borrowings 70 139
Long-term debt due within one year 20 18
Accounts payable 144 154
Accrued expenses 42 35
Payables to affiliates, current 25 28
Customer deposits 25 26
Regulatory Liability, Current 25 18
Other 9 4
Total current liabilities 360 422
Long-term debt 1,307 1,170
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 577 535
Non-pension postretirement benefit obligations 17 17
Regulatory liabilities, noncurrent 357 402
Other 39 27
Total deferred credits and other liabilities 990 981
Total liabilities 2,657 2,573
Commitments and Contingencies
Shareholders’ equity    
Common stock 1,154 979
Retained earnings/Undistributed earnings 122 147
Total shareholders’ equity 1,276 1,126
Member’s equity    
Total liabilities and equity 3,933 3,699
Variable Interest Entity, Consolidated, Assets, Pledged 17 23
Variable Interest Entity, Consolidated, Liabilities, No Recourse $ 41 $ 59
Common Stock [Member] | Commonwealth Edison Co [Member]    
Member’s equity    
Common Stock, Shares Authorized 250,000,000 250,000,000
Common Stock, Shares, Outstanding 127,000,000 127,000,000
Common Stock [Member] | PECO Energy Co [Member]    
Member’s equity    
Common Stock, Shares Authorized 500,000,000 500,000,000
Common Stock, Shares, Outstanding 170,000,000 170,000,000
Common Stock [Member] | Baltimore Gas and Electric Company [Member]    
Member’s equity    
Common Stock, Shares Authorized 1,500 0
Common Stock, Shares, Outstanding 1,000  
Common Stock [Member] | Potomac Electric Power Company [Member]    
Member’s equity    
Common Stock, Shares Authorized 200,000,000 200,000,000
Common Stock, Shares, Outstanding 100 100
Common Stock [Member] | Delmarva Power & Light Company [Member]    
Member’s equity    
Common Stock, Shares Authorized 1,000 1,000
Common Stock, Shares, Outstanding 1,000 1,000
Common Stock [Member] | Atlantic City Electric Company [Member]    
Member’s equity    
Common Stock, Shares Authorized 25,000,000 25,000,000
Common Stock, Shares, Outstanding 9,000,000 9,000,000
[1]
Exelon’s consolidated assets include $9,532 million and $9,667 million at December 31, 2019 and 2018, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Exelon’s consolidated liabilities include $3,473 million and $3,548 million at December 31, 2019 and 2018, respectively, of certain VIEs for which the VIE creditors do not have recourse to Exelon. See Note 22Variable Interest Entities for additional information.
[2]
Generation’s consolidated assets include $9,512 million and $9,634 million at December 31, 2019 and 2018, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Generation’s consolidated liabilities include $3,429 million and $3,480 million at December 31, 2019 and 2018, respectively, of certain VIEs for which the VIE creditors do not have recourse to Generation. See Note 22Variable Interest Entities for additional information.
[3]
In millions, shares round to zero. Number of shares is 1,500 authorized and 1,000 outstanding at December 31, 2019 and 2018.
[4]
PHI’s consolidated total assets include $20 million and $33 million at December 31, 2019 and 2018, respectively, of PHI's consolidated VIE that can only be used to settle the liabilities of the VIE. PHI’s consolidated total liabilities include $44 million and $69 million at December 31, 2019 and 2018, respectively, of PHI's consolidated VIE for which the VIE creditors do not have recourse to PHI. See Note 22 - Variable Interest Entities for additional information.
[5]
In millions, shares round to zero. Number of shares is 100 outstanding at December 31, 2019 and 2018.
[6]
In millions, shares round to zero. Number of shares is 1,000 authorized and 1,000 outstanding at December 31, 2019 and 2018.
[7]
ACE’s consolidated assets include $17 million and $23 million at December 31, 2019 and 2018, respectively, of ACE’s consolidated VIE that can only be used to settle the liabilities of the VIE. ACE’s consolidated liabilities include $41 million and $59 million at December 31, 2019 and 2018, respectively, of ACE’s consolidated VIE for which the VIE creditors do not have recourse to ACE. See Note 22 - Variable Interest Entities for additional information.