Early Plant Retirements (Tables)

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Restructuring and Related Costs [Table Text Block]

As a result of the decision to early retire Byron and Dresden, Exelon and Generation recognized certain one-time charges in the third and fourth quarters of 2020 related to materials and supplies inventory reserve adjustments, employee-related costs including severance benefit costs further discussed below, and construction work-in-progress impairments, among other items. In addition, as a result of the decisions to early retire Byron and Dresden, there are ongoing annual financial impacts stemming from shortening the expected economic useful lives of these nuclear plants primarily related to accelerated depreciation of plant assets (including any ARC), accelerated amortization of nuclear fuel, and changes in ARO accretion expense associated with the changes in decommissioning timing and cost assumptions to reflect an earlier retirement date. The total impact for the three and six months ended June 30, 2021 on Exelon's and Generation's Consolidated Statements of Operations and Comprehensive Income is summarized in the table below.

Income statement expense (pre-tax)	Three Months Ended June 30, 2021(a)		Six Months Ended June 30, 2021(a)
Depreciation and amortization
Accelerated depreciation(a)	$	611	$	1,230
Accelerated nuclear fuel amortization	52		106
Operating and maintenance
Other charges	2		4
Contractual offset(b)	(166)		(391)
Total	$	499	$	949

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(a)Includes the accelerated depreciation of plant assets including any ARC.

(b)Reflects contractual offset for ARO accretion and ARC depreciation and excludes any changes in earnings in the NDT funds. Decommissioning-related impacts were not offset for the Byron units starting in the second quarter of 2021 due to the inability to recognize a regulatory asset at ComEd. Based on the regulatory agreement with the ICC, decommissioning-related activities are offset within Exelon's and Generation's Consolidated Statements of Operations and Comprehensive Income as long as the net cumulative decommissioning-related activities result in a regulatory liability at ComEd. The offset resulted in an equal adjustment to the noncurrent payables to ComEd at Generation and an adjustment to the regulatory liabilities at ComEd. See Note 8 - Nuclear Decommissioning for additional information.

Implications of Potential Early Plant Retirement on Balance Sheet [Table Text Block]

The following table provides the balance sheet amounts as of June 30, 2021 for Exelon's and Generation's significant assets and liabilities associated with the Braidwood and LaSalle nuclear plants. Current depreciation provisions are based on the estimated useful lives of these nuclear generating stations, which reflect the first renewal of the operating licenses.

	Braidwood		LaSalle		Total
Asset Balances
Materials and supplies inventory, net	$	82	$	105	$	187
Nuclear fuel inventory, net	196		244		440
Completed plant, net	1,380		1,610		2,990
Construction work in progress	30		12		42
Liability Balances
Asset retirement obligation	(585)		(975)		(1,560)
NRC License First Renewal Term	2046 (Unit 1)		2042 (Unit 1)
	2047 (Unit 2)		2043 (Unit 2)