XML 93 R39.htm IDEA: XBRL DOCUMENT v3.20.2
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
PHI Merger Commitments The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligations for Exelon, PHI, Pepco, DPL and ACE as of June 30, 2020:
Description
Exelon
 
PHI
 
Pepco
 
DPL
 
ACE
Total commitments
$
513

 
$
320

 
$
120

 
$
89

 
$
111

Remaining commitments(a)
91

 
72

 
60

 
7

 
5


_________
(a)
Remaining commitments extend through 2026 and include rate credits, energy efficiency programs and delivery system modernization.
Commercial Commitments The Registrants’ commercial commitments as of June 30, 2020, representing commitments potentially triggered by future events were as follows:
 
 
 
Expiration within
 
Total
 
2020
 
2021
 
2022
 
2023
 
2024
 
2025 and beyond
Exelon
 
 
 
 
 
 
 
 
 
 
 
 
 
Letters of credit
$
1,291

 
$
475

 
$
816

 
$
—

 
$
—

 
$
—

 
$
—

Surety bonds(a)
902

 
550

 
335

 
17

 
—

 
—

 
—

Financing trust guarantees
378

 
—

 
—

 
—

 
—

 
—

 
378

Guaranteed lease residual values(b)
28

 
1

 
2

 
4

 
3

 
7

 
11

Total commercial commitments
$
2,599

 
$
1,026

 
$
1,153

 
$
21

 
$
3


$
7

 
$
389

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Generation
 
 
 
 
 
 
 
 
 
 
 
 
 
Letters of credit
$
1,276

 
$
467

 
$
809

 
$
—

 
$
—

 
$
—

 
$
—

Surety bonds(a)
754

 
479

 
258

 
17

 
—

 
—

 
—

Total commercial commitments
$
2,030

 
$
946

 
$
1,067

 
$
17

 
$
—

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
ComEd
 
 
 
 
 
 
 
 
 
 
 
 
 
Letters of credit
$
7

 
$
4

 
$
3

 
$
—

 
$
—

 
$
—

 
$
—

Surety bonds(a)
15

 
8

 
7

 
—

 
—

 
—

 
—

Financing trust guarantees
200

 
—

 
—

 
—

 
—

 
—

 
200

Total commercial commitments
$
222

 
$
12

 
$
10

 
$
—

 
$
—

 
$
—

 
$
200

 
 
 
 
 
 
 
 
 
 
 
 
 
 
PECO
 
 
 
 
 
 
 
 
 
 
 
 
 
Surety bonds(a)
$
6

 
$
4

 
$
2

 
$
—

 
$
—

 
$
—

 
$
—

Financing trust guarantees
178

 
—

 
—

 
—

 
—

 
—

 
178

Total commercial commitments
$
184

 
$
4

 
$
2

 
$
—

 
$
—

 
$
—

 
$
178

 
 
 
 
 
 
 
 
 
 
 
 
 
 
BGE
 
 
 
 
 
 
 
 
 
 
 
 
 
Letters of credit
$
2

 
$
2

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Surety bonds(a)
3

 
2

 
1

 
—

 
—

 
—

 
—

Total commercial commitments
$
5

 
$
4

 
$
1

 
$
—

 
$
—

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
PHI
 
 
 
 
 
 
 
 
 
 
 
 
 
Surety bonds(a)
$
22

 
$
6

 
$
16

 
$
—

 
$
—

 
$
—

 
$
—

Guaranteed lease residual values(b)
28

 
1

 
2

 
4

 
3

 
7

 
11

Total commercial commitments
$
50

 
$
7

 
$
18

 
$
4

 
$
3

 
$
7

 
$
11

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pepco
 
 
 
 
 
 
 
 
 
 
 
 
 
Surety bonds(a)
$
14

 
$
1

 
$
13

 
$
—

 
$
—

 
$
—

 
$
—

Guaranteed lease residual values(b)
9

 
—

 
1

 
1

 
1

 
2

 
4

Total commercial commitments
$
23

 
$
1

 
$
14

 
$
1

 
$
1

 
$
2

 
$
4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
DPL
 
 
 
 
 
 
 
 
 
 
 
 
 
Surety bonds(a)
$
4

 
$
3

 
$
1

 
$
—

 
$
—

 
$
—

 
$
—

Guaranteed lease residual values(b)
12

 
—

 
1

 
2

 
1

 
4

 
4

Total commercial commitments
$
16

 
$
3

 
$
2

 
$
2

 
$
1

 
$
4

 
$
4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
ACE
 
 
 
 
 
 
 
 
 
 
 
 
 
Surety bonds(a)
$
4

 
$
2

 
$
2

 
$
—

 
$
—

 
$
—

 
$
—

Guaranteed lease residual values(b)
7

 
1

 
—

 
1

 
1

 
1

 
3

Total commercial commitments
$
11

 
$
3

 
$
2

 
$
1

 
$
1

 
$
1

 
$
3

_________
(a)
Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.
(b)
Represents the maximum potential obligation in the event that the fair value of certain leased equipment and fleet vehicles is zero at the end of the maximum lease term. The lease term associated with these assets ranges from 1 to 8 years. The maximum potential obligation at the end of the minimum lease term would be $74 million guaranteed by Exelon and PHI, of which $25 million, $31 million and $18 million is guaranteed by Pepco, DPL and ACE, respectively. Historically, payments under the guarantees have not been made and PHI believes the likelihood of payments being required under the guarantees is remote.
Accrued environmental liabilities
As of June 30, 2020 and December 31, 2019, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Other current liabilities and Other deferred credits and other liabilities within their respective Consolidated Balance Sheets:
 
June 30, 2020
 
December 31, 2019
 
Total environmental
investigation and
remediation liabilities
 
Portion of total related to
MGP investigation and
remediation
 
Total environmental
investigation and
remediation liabilities
 
Portion of total related to
MGP investigation and
remediation
Exelon
$
463


$
309

 
$
478


$
320

Generation
103

 
—

 
105

 
—

ComEd
293

 
292

 
304

 
303

PECO
19

 
17

 
19

 
17

BGE
2

 
—

 
2

 
—

PHI
46


—

 
48


—

Pepco
44

 
—

 
46

 
—

DPL
1

 
—

 
1

 
—

ACE
1

 
—

 
1

 
—