Stock-Based Compensation Plans Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Common Stock [Abstract]

Share-based Payment Arrangement, Cost by Plan [Table Text Block]

The following table presents the stock-based compensation expense included in Exelon's and Generation's Consolidated Statements of Operations and Comprehensive Income. The Utility Registrants' stock-based compensation expense for the years ended December 31, 2020, 2019, and 2018 was not material.

	Year Ended December 31,
Exelon	2020		2019		2018
Total stock-based compensation expense included in operating and maintenance expense	$	64	$	77	$	208
Income tax benefit	(16)		(20)		(54)
Total after-tax stock-based compensation expense	$	48	$	57	$	154
Generation
Total stock-based compensation expense included in operating and maintenance expense	$	27	$	37	$	77
Income tax benefit	(7)		(10)		(20)
Total after-tax stock-based compensation expense	$	20	$	27	$	57

Stock Based Compensation Tax Benefit

The following table presents information regarding Exelon’s realized tax benefit when distributed:

	Year Ended December 31,
	2020		2019		2018
Performance share awards	$	21	$	41	$	16
Restricted stock units	15		24		28

Schedule of Nonvested Performance-based Units Activity

The following table summarizes Exelon’s nonvested performance share awards activity:

	Shares	Weighted Average Grant Date Fair Value (per share)
Nonvested at December 31, 2019(a)	1,709,755	$	39.21
Granted	1,122,378	46.61
Change in performance	(751,309)	42.51
Vested	(747,551)	35.70
Forfeited	(67,964)	45.59
Undistributed vested awards(b)	(334,917)	50.76
Nonvested at December 31, 2020(a)	930,392	$	43.67

__________

(a)Excludes 1,414,661 and 2,017,870 of performance share awards issued to retirement-eligible employees as of December 31, 2020 and 2019, respectively, as they are fully vested.

(b)Represents performance share awards that vested but were not distributed to retirement-eligible employees during 2020.

The following table summarizes the weighted average grant date fair value and the total fair value of performance share awards vested.

	Year Ended December 31,
	2020(a)		2019		2018
Weighted average grant date fair value (per share)	$	46.61	$	47.37	$	38.15
Total fair value of performance shares vested	39		158		61
Total fair value of performance shares settled in cash	63		131		49

__________

(a)As of December 31, 2020, $13 million of total unrecognized compensation costs related to nonvested performance shares are expected to be recognized over the remaining weighted-average period of 1.8 years.

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes Exelon’s nonvested restricted stock unit activity:

	Shares	Weighted Average Grant Date Fair Value (per share)
Nonvested at December 31, 2019(a)	1,498,713	$	40.35
Granted	847,382	46.33
Vested	(725,151)	38.38
Forfeited	(52,046)	45.20
Undistributed vested awards(b)	(454,768)	45.91
Nonvested at December 31, 2020(a)	1,114,130	$	43.67

__________

(a)Excludes 748,165 and 863,196 of restricted stock units issued to retirement-eligible employees as of December 31, 2020 and 2019, respectively, as they are fully vested.

(b)Represents restricted stock units that vested but were not distributed to retirement-eligible employees during 2020.

The following table summarizes the weighted average grant date fair value and the total fair value of restricted stock units vested.

	Year Ended December 31,
	2020(a)		2019		2018
Weighted average grant date fair value (per share)	$	46.33	$	45.65	$	38.60
Total fair value of restricted stock units vested	54		92		106

__________

(a)As of December 31, 2020, $23 million of total unrecognized compensation costs related to nonvested restricted stock units are expected to be recognized over the remaining weighted-average period of 2.3 years.

Schedule of Share-based Compensation, Stock Options, Activity

The following table presents information with respect to stock option activity:

	Shares	Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Balance of shares outstanding at December 31, 2019	1,889,045	$	40.43	1.56	$	10
Options exercised	(475,827)	38.30			5
Options expired	(147,808)	46.07
Balance of shares outstanding at December 31, 2020	1,265,410	$	40.57	0.91	$	3
Exercisable at December 31, 2020(a)	1,265,410	$	40.57	0.91	$	3

__________

(a)Includes stock options issued to retirement eligible employees.

Stock Options Exercised

The following table summarizes additional information regarding stock options exercised:

	Year Ended December 31,
	2020		2019		2018
Intrinsic value(a)	$	5	$	9	$	12
Cash received for exercise price	18		59		56

__________

(a)The difference between the market value on the date of exercise and the option exercise price.