Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2020

Variable Interest Entity [Abstract]

VIE - Assets and Liabilities of VIEs which Creditors or Beneficiaries have no Recourse

The table below shows the carrying amounts and classification of the consolidated VIEs’ assets and liabilities included in the consolidated financial statements of Exelon, Generation, PHI and ACE as of June 30, 2020 and December 31, 2019. The assets, except as noted in the footnotes to the table below, can only be used to settle obligations of the VIEs. The liabilities, except as noted in the footnote to the table below, are such that creditors, or beneficiaries, do not have recourse to the general credit of Exelon, Generation, PHI and ACE.

	June 30, 2020								December 31, 2019
	Exelon		Generation		PHI (a)		ACE		Exelon		Generation		PHI (a)		ACE
Cash and cash equivalents	$	114	$	114	$	—	$	—	$	163	$	163	$	—	$	—
Restricted cash and cash equivalents	105		102		3		3		88		85		3		3
Accounts receivable
Customer	145		145		—		—		151		151		—		—
Other	38		38		—		—		39		39		—		—
Unamortized energy contract assets (b)	22		22		—		—		23		23		—		—
Inventories, net
Materials and supplies	236		236		—		—		227		227		—		—
Other current assets	675		671		4		—		32		31		1		—
Total current assets	1,335		1,328		7		3		723		719		4		3
Property, plant and equipment, net (c)	5,939		5,939		—		—		6,022		6,022		—		—
Nuclear decommissioning trust funds	2,642		2,642		—		—		2,741		2,741		—		—
Unamortized energy contract assets (b)	258		258		—		—		250		250		—		—
Other noncurrent assets	44		30		14		11		89		73		16		14
Total noncurrent assets	8,883		8,869		14		11		9,102		9,086		16		14
Total assets	$	10,218	$	10,197	$	21	$	14	$	9,825	$	9,805	$	20	$	17
Long-term debt due within one year	$	191	$	167	$	24	$	20	$	544	$	523	$	21	$	20
Accounts payable	71		71		—		—		106		106		—		—
Accrued expenses	60		60		—		—		70		70		—		—
Unamortized energy contract liabilities	6		6		—		—		8		8		—		—
Other current liabilities	6		6		—		—		3		3		—		—
Total current liabilities	334		310		24		20		731		710		21		20
Long-term debt	947		934		13		11		527		504		23		21
Asset retirement obligations (d)	2,182		2,182		—		—		2,128		2,128		—		—
Unamortized energy contract liabilities	1		1		—		—		1		1		—		—
Other noncurrent liabilities	80		80		—		—		89		89		—		—
Total noncurrent liabilities	3,210		3,197		13		11		2,745		2,722		23		21
Total liabilities	$	3,544	$	3,507	$	37	$	31	$	3,476	$	3,432	$	44	$	41

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(a) Includes certain purchase accounting adjustments not pushed down to the ACE standalone entity.

(b) These are unrestricted assets to Exelon and Generation.

(c) Exelon’s and Generation’s balances include unrestricted assets of $1 million and $20 million as of June 30, 2020 and December 31, 2019.

(d)

Exelon’s and Generation’s balances include liabilities with recourse of $2 million and $3 million as of June 30, 2020 and December 31, 2019, respectively.

VIE - Summary of Unconsolidated VIEs

The following table presents summary information about Exelon's and Generation’s significant unconsolidated VIE entities:

	June 30, 2020						December 31, 2019
	Commercial Agreement VIEs		Equity Investment VIEs		Total		Commercial Agreement VIEs		Equity Investment VIEs		Total
Total assets(a)	$	705	$	417	$	1,122	$	636	$	443	$	1,079
Total liabilities(a)	172		227		399		33		227		260
Exelon's ownership interest in VIE(a)	—		168		168		—		191		191
Other ownership interests in VIE(a)	533		22		555		604		25		629

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(a)

These items represent amounts on the unconsolidated VIE balance sheets, not in Exelon’s or Generation’s Consolidated Balance Sheets. These items are included to provide information regarding the relative size of the unconsolidated VIEs. Exelon and Generation do not have any exposure to loss as they do not have a carrying amount in the equity investment VIEs as of June 30, 2020 and December 31, 2019.