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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating revenues        
Revenues from alternative revenue programs $ (122) $ (13) $ (55) $ (19)
Operating revenues from affiliates 1 0 2 0
Total operating revenues 7,322 7,689 16,069 17,166
Operating expenses        
Operating and maintenance 2,433 2,159 4,637 4,347
Depreciation and amortization 1,001 1,079 2,023 2,154
Taxes other than income taxes 411 418 847 863
Total operating expenses 6,769 6,881 14,298 15,142
Gain on sales of assets and businesses 12 33 13 36
Operating income 565 841 1,784 2,060
Other income and (deductions)        
Interest expense, net (421) (403) (824) (800)
Interest expense to affiliates (6) (6) (13) (13)
Other, net 656 212 (68) 679
Total other income and (deductions) 229 (197) (905) (134)
Income before income taxes 794 644 879 1,926
Income taxes 219 144 (75) 454
Equity in losses of unconsolidated affiliates (1) (6) (4) (12)
Net income (loss) 574 494 950 1,460
Net income (loss) attributable to noncontrolling interests 53 10 (153) 69
Net income (loss) attributable to common shareholders 521 484 1,103 1,391
Other comprehensive income (loss), net of income taxes        
Prior service benefit reclassified to periodic benefit cost (10) (16) (20) (32)
Actuarial loss reclassified to periodic benefit cost 47 36 94 74
Pension and non-pension postretirement benefit plan valuation adjustment 2 0 (5) (39)
Unrealized (loss) gain on cash flow hedges 0 0 (1) 0
Unrealized (loss) gain on investments in unconsolidated affiliates 0 (2) 0 (4)
Unrealized gain (loss) on foreign currency translation 2 3 (6) 4
Other comprehensive income 41 21 62 3
Comprehensive income 615 515 1,012 1,463
Comprehensive income (loss) attributable to noncontrolling interests 53 9 (153) 67
Comprehensive income attributable to common shareholders/membership interest $ 562 $ 506 $ 1,165 $ 1,396
Average shares of common stock outstanding:        
Basic average shares of common stock outstanding 976 972 975 972
Assumed exercise and/or distributions of stock-based awards 0 2 1 1
Diluted average shares of common stock outstanding [1] 976 974 976 973
Earnings per average common share:        
Basic earnings per average common share $ 0.53 $ 0.50 $ 1.13 $ 1.43
Diluted earnings per average common share $ 0.53 $ 0.50 $ 1.13 $ 1.43
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 1 0 0 0
Exelon Generation Co L L C [Member]        
Operating revenues        
Operating revenues from affiliates $ 271 $ 252 $ 601 $ 569
Total operating revenues 3,880 4,210 8,613 9,506
Operating expenses        
Purchased power and/or fuel from affiliates (3) 3 (9) 4
Operating and maintenance 1,053 1,117 2,174 2,185
Operating and maintenance from affiliates 136 149 277 299
Depreciation and amortization 300 409 604 814
Taxes other than income taxes 116 129 246 264
Total operating expenses 3,547 4,096 7,947 9,059
Gain on sales of assets and businesses 12 33 12 33
Operating income 345 147 678 480
Other income and (deductions)        
Interest expense, net (78) (107) (179) (209)
Interest expense to affiliates (9) (9) (18) (18)
Other, net 602 171 (168) 601
Total other income and (deductions) 515 55 (365) 374
Income before income taxes 860 202 313 854
Income taxes 329 78 (59) 301
Equity in losses of unconsolidated affiliates (2) (6) (4) (13)
Net income (loss) 529 118 368 540
Net income (loss) attributable to noncontrolling interests 53 10 (153) 68
Net income attributable to membership interest 476 108 521 472
Other comprehensive income (loss), net of income taxes        
Unrealized (loss) gain on cash flow hedges 0 (1) (1) 0
Unrealized (loss) gain on investments in unconsolidated affiliates 0 (2) 0 (4)
Unrealized gain (loss) on foreign currency translation 2 2 (6) 4
Other comprehensive income 2 (1) (7) 0
Comprehensive income 531 117 361 540
Comprehensive income (loss) attributable to noncontrolling interests 53 9 (153) 66
Comprehensive income attributable to common shareholders/membership interest 478 108 514 474
Commonwealth Edison Co [Member]        
Operating revenues        
Revenues from alternative revenue programs (25) (14) (13) (42)
Operating revenues from affiliates 11 5 16 9
Total operating revenues 1,417 1,351 2,856 2,759
Operating expenses        
Purchased power and/or fuel from affiliates 84 91 181 187
Operating and maintenance 469 245 713 504
Operating and maintenance from affiliates 67 60 140 122
Depreciation and amortization 274 257 547 508
Taxes other than income taxes 71 71 146 148
Total operating expenses 1,345 1,040 2,497 2,174
Gain on sales of assets and businesses 0 0 0 3
Operating income 72 311 359 588
Other income and (deductions)        
Interest expense, net (95) (86) (186) (171)
Interest expense to affiliates (3) (3) (6) (7)
Other, net 11 10 22 19
Total other income and (deductions) (87) (79) (170) (159)
Income before income taxes (15) 232 189 429
Income taxes 46 46 82 85
Net income (loss) (61) 186 107 344
Other comprehensive income (loss), net of income taxes        
Comprehensive income (61) 186 107 344
PECO Energy Co [Member]        
Operating revenues        
Revenues from alternative revenue programs 4 (3) 5 (6)
Operating revenues from affiliates 2 2 4 3
Total operating revenues 681 655 1,493 1,554
Operating expenses        
Purchased power and/or fuel from affiliates 40 35 76 79
Operating and maintenance 235 162 414 349
Operating and maintenance from affiliates 40 37 78 75
Depreciation and amortization 88 83 173 164
Taxes other than income taxes 39 37 78 79
Total operating expenses 618 510 1,242 1,187
Operating income 63 145 251 367
Other income and (deductions)        
Interest expense, net (33) (30) (65) (61)
Interest expense to affiliates (3) (3) (6) (6)
Other, net 5 3 7 7
Total other income and (deductions) (31) (30) (64) (60)
Income before income taxes 32 115 187 307
Income taxes (7) 13 9 37
Net income (loss) 39 102 178 270
Other comprehensive income (loss), net of income taxes        
Comprehensive income 39 102 178 270
Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (37) 6 0 17
Operating revenues from affiliates 4 6 10 12
Total operating revenues 616 649 1,554 1,625
Operating expenses        
Purchased power and/or fuel from affiliates 69 56 167 132
Operating and maintenance 146 142 293 294
Operating and maintenance from affiliates 41 40 83 78
Depreciation and amortization 129 117 272 252
Taxes other than income taxes 63 62 132 131
Total operating expenses 573 569 1,263 1,325
Operating income 43 80 291 300
Other income and (deductions)        
Interest expense, net (32) (29) (64) (58)
Other, net 6 5 10 11
Total other income and (deductions) (26) (24) (54) (47)
Income before income taxes 17 56 237 253
Income taxes (22) 11 18 47
Net income (loss) 39 45 219 206
Other comprehensive income (loss), net of income taxes        
Comprehensive income 39 45 219 206
Pepco Holdings LLC [Member]        
Operating revenues        
Revenues from alternative revenue programs (64) (3) (47) 12
Operating revenues from affiliates 3 3 7 7
Total operating revenues 1,016 1,091 2,187 2,319
Operating expenses        
Purchased power and/or fuel from affiliates 78 70 182 171
Operating and maintenance 245 213 464 452
Operating and maintenance from affiliates 36 35 74 68
Depreciation and amortization 191 188 385 369
Taxes other than income taxes 109 108 222 220
Total operating expenses 956 926 1,955 1,981
Gain on sales of assets and businesses 0 0 2 0
Operating income 60 165 234 338
Other income and (deductions)        
Interest expense, net (67) (67) (134) (131)
Other, net 14 14 26 27
Total other income and (deductions) (53) (53) (108) (104)
Income before income taxes 7 112 126 234
Income taxes (87) 6 (76) 11
Net income (loss) 94 106 202 223
Other comprehensive income (loss), net of income taxes        
Comprehensive income attributable to common shareholders/membership interest 94 106 202 223
Potomac Electric Power Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (13) (1) 2 13
Operating revenues from affiliates 1 1 3 3
Total operating revenues 494 531 1,039 1,106
Operating expenses        
Purchased power and/or fuel from affiliates 60 52 139 122
Operating and maintenance 67 59 128 123
Operating and maintenance from affiliates 52 52 103 107
Depreciation and amortization 92 93 186 186
Taxes other than income taxes 87 90 179 182
Total operating expenses 436 438 899 929
Operating income 58 93 140 177
Other income and (deductions)        
Interest expense, net (34) (34) (68) (68)
Other, net 9 7 18 14
Total other income and (deductions) (25) (27) (50) (54)
Income before income taxes 33 66 90 123
Income taxes (24) 2 (19) 4
Net income (loss) 57 64 109 119
Other comprehensive income (loss), net of income taxes        
Comprehensive income 57 64 109 119
Delmarva Power and Light Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (25) 0 (24) 1
Operating revenues from affiliates 2 2 4 3
Total operating revenues 267 287 617 667
Operating expenses        
Purchased power and/or fuel from affiliates 16 12 38 35
Operating and maintenance 54 39 97 84
Operating and maintenance from affiliates 38 38 75 76
Depreciation and amortization 47 45 94 91
Taxes other than income taxes 17 14 32 28
Total operating expenses 263 243 547 550
Operating income 4 44 70 117
Other income and (deductions)        
Interest expense, net (15) (15) (31) (30)
Other, net 2 5 5 7
Total other income and (deductions) (13) (10) (26) (23)
Income before income taxes (9) 34 44 94
Income taxes (28) 4 (20) 11
Net income (loss) 19 30 64 83
Other comprehensive income (loss), net of income taxes        
Comprehensive income 19 30 64 83
Atlantic City Electric Company [Member]        
Operating revenues        
Revenues from alternative revenue programs (26) (2) (25) (1)
Operating revenues from affiliates 1 1 1 1
Total operating revenues 256 274 532 547
Operating expenses        
Purchased power and/or fuel from affiliates 2 6 5 13
Operating and maintenance 48 41 94 88
Operating and maintenance from affiliates 34 33 66 67
Depreciation and amortization 44 40 86 71
Taxes other than income taxes 2 1 4 2
Total operating expenses 258 246 509 498
Gain on sales of assets and businesses 0 0 2 0
Operating income (2) 28 25 49
Other income and (deductions)        
Interest expense, net (15) (15) (29) (28)
Other, net 2 1 3 4
Total other income and (deductions) (13) (14) (26) (24)
Income before income taxes (15) 14 (1) 25
Income taxes (33) 0 (32) 1
Net income (loss) 18 14 31 24
Other comprehensive income (loss), net of income taxes        
Comprehensive income 18 14 31 24
Generation commodities and services        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 3,611 3,959 8,014 8,938
Operating expenses        
Purchased power and/or fuel 1,945 2,289 4,655 5,493
Generation commodities and services | Exelon Generation Co L L C [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 3,609 3,958 8,012 8,937
Operating expenses        
Purchased power and/or fuel 1,945 2,289 4,655 5,493
Rate-regulated utility revenues        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 3,832 3,743 8,108 8,247
Operating expenses        
Purchased power and/or fuel 979 936 2,136 2,285
Electricity, US Regulated        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 3,475 3,512 7,222 7,343
Electricity, US Regulated | Commonwealth Edison Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 1,431 1,360 2,853 2,792
Operating expenses        
Purchased power and/or fuel 380 316 770 705
Electricity, US Regulated | PECO Energy Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 580 567 1,180 1,188
Operating expenses        
Purchased power and/or fuel 142 124 306 275
Electricity, US Regulated | Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 530 540 1,125 1,191
Operating expenses        
Purchased power and/or fuel 107 131 221 322
Electricity, US Regulated | Pepco Holdings LLC [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 1,047 1,067 2,133 2,205
Operating expenses        
Purchased power and/or fuel 286 303 586 658
Electricity, US Regulated | Potomac Electric Power Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 506 531 1,034 1,090
Operating expenses        
Purchased power and/or fuel 78 92 164 209
Electricity, US Regulated | Delmarva Power and Light Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 260 261 543 568
Operating expenses        
Purchased power and/or fuel 80 86 169 193
Electricity, US Regulated | Atlantic City Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 281 275 556 547
Operating expenses        
Purchased power and/or fuel 128 125 254 257
Natural Gas, US Regulated        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 236 218 832 883
Natural Gas, US Regulated | PECO Energy Co [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 95 89 304 369
Operating expenses        
Purchased power and/or fuel 34 32 117 166
Natural Gas, US Regulated | Baltimore Gas and Electric Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 119 97 419 405
Operating expenses        
Purchased power and/or fuel 18 21 95 116
Natural Gas, US Regulated | Pepco Holdings LLC [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 30 24 94 95
Operating expenses        
Purchased power and/or fuel 11 9 42 43
Natural Gas, US Regulated | Delmarva Power and Light Company [Member]        
Operating revenues        
Revenue from Contract with Customer, Including Assessed Tax 30 24 94 95
Operating expenses        
Purchased power and/or fuel $ 11 $ 9 $ 42 $ 43
[1]
The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 1 million and immaterial for the three and six months ended June 30, 2020, respectively, and immaterial for the three and six months ended June 30, 2019.