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Segment Information (All Registrants)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information (All Registrants) Segment Information (All Registrants)
Operating segments for each of the Registrants are determined based on information used by the CODM in deciding how to evaluate performance and allocate resources at each of the Registrants.
Exelon has eleven reportable segments, which includes five reportable segments for Generation consisting of the Mid-Atlantic, Midwest, New York, ERCOT, and all other power regions referred to     collectively as “Other Power Regions” and ComEd, PECO, BGE, and PHI's three reportable segments consisting of Pepco, DPL, and ACE. ComEd, PECO, BGE, Pepco, DPL, and ACE each represent a single reportable segment, and as such, no separate segment information is provided for these Registrants. Exelon, ComEd, PECO, BGE, Pepco, DPL, and ACE's CODMs evaluate the performance of and allocate resources to ComEd, PECO, BGE, Pepco, DPL, and ACE based on net income.
The basis for the reportable segments of Generation is the integrated management of Generation's electricity business that is located in different geographic regions, and largely representative of the footprints of ISO/RTO and/or NERC regions, which utilize multiple supply sources to provide electricity through various distribution channels (wholesale and retail). Generation's hedging strategies and risk metrics are also aligned to these same geographic regions. Descriptions of each of the five reportable segments of Generation are as follows:
•Mid-Atlantic represents operations in the eastern half of PJM, which includes New Jersey, Maryland, Virginia, West Virginia, Delaware, the District of Columbia, and parts of Pennsylvania and North Carolina.
•Midwest represents operations in the western half of PJM and the United States footprint of MISO, excluding MISO’s Southern Region.
•New York represents operations within NYISO.
•ERCOT represents operations within Electric Reliability Council of Texas that covers a majority of the state of Texas.
•Other Power Regions:
•New England represents operations within ISO-NE.
•South represents operations in the FRCC, MISO’s Southern Region, and the remaining portions of the SERC not included within MISO or PJM.
•West represents operations in the WECC, which includes CAISO.
•Canada represents operations across the entire country of Canada and includes AESO, OIESO, and the Canadian portion of MISO.
The CODM evaluates the performance of Generation’s electric business activities and allocates resources based on Revenues Net of Purchased Power and Fuel Expense (RNF). Management believes that RNF is a useful
measurement of operational performance. RNF is not a presentation defined under GAAP and may not be comparable to other companies’ presentations or deemed more useful than the GAAP information provided elsewhere in this report. Generation’s operating revenues include all sales to third parties and affiliated sales to the Utility Registrants. Purchased power costs include all costs associated with the procurement and supply of electricity including capacity, energy, and ancillary services. Fuel expense includes the fuel costs for Generation’s owned generation and fuel costs associated with tolling agreements. The results of Generation's other business activities are not regularly reviewed by the CODM and are therefore not classified as operating segments or included in the regional reportable segment amounts. These activities include natural gas, as well as other miscellaneous business activities that are not significant to Generation's overall operating revenues or results of operations. Further, Generation’s unrealized mark-to-market gains and losses on economic hedging activities and its amortization of certain intangible assets and liabilities relating to commodity contracts recorded at fair value from mergers and acquisitions are also excluded from the regional reportable segment amounts. The CODM does not use a measure of total assets in making decisions regarding allocating resources to or assessing the performance of these reportable segments.
An analysis and reconciliation of the reportable segment information to the respective information in the Exelon consolidated financial statements for the years ended December 31, 2021, 2020, and 2019 is as follows:
ComEdPECOBGEPHIGeneration
Other(a)
Intersegment
Eliminations		Exelon
Operating revenues(b):
2021
Competitive businesses electric revenues$— $— $— $— $16,290 $— $(1,171)$15,119 
Competitive businesses natural gas revenues— — — — 3,379 — 3,379 
Competitive businesses other revenues— — — — (20)— (11)(31)
Rate-regulated electric revenues6,406 2,659 2,505 4,860 — — (78)16,352 
Rate-regulated natural gas revenues— 539 836 168 — — (15)1,528 
Shared service and other revenues— — — 13 — 2,213 (2,226)— 
Total operating revenues$6,406 $3,198 $3,341 $5,041 $19,649 $2,213 $(3,501)$36,347 
2020
Competitive businesses electric revenues$— $— $— $— $15,060 $— $(1,196)$13,864 
Competitive businesses natural gas revenues— — — — 2,003 — (3)2,000 
Competitive businesses other revenues— — — — 540 — (4)536 
Rate-regulated electric revenues5,904 2,543 2,336 4,485 — — (61)15,207 
Rate-regulated natural gas revenues— 515 762 162 — — (7)1,432 
Shared service and other revenues— — — 16 — 2,035 (2,051)— 
Total operating revenues$5,904 $3,058 $3,098 $4,663 $17,603 $2,035 $(3,322)$33,039 
ComEdPECOBGEPHIGeneration
Other(a)
Intersegment
Eliminations		Exelon
2019
Competitive businesses electric revenues$— $— $— $— $16,285 $— $(1,165)$15,120 
Competitive businesses natural gas revenues— — — — 2,148 — (1)2,147 
Competitive businesses other revenues— — — — 491 — (4)487 
Rate-regulated electric revenues5,747 2,490 2,379 4,626 — — (47)15,195 
Rate-regulated natural gas revenues— 610 727 167 — — (15)1,489 
Shared service and other revenues— — — 13 — 1,921 (1,934)— 
Total operating revenues$5,747 $3,100 $3,106 $4,806 $18,924 $1,921 $(3,166)$34,438 
Intersegment revenues(c):
2021$41 $21 $31 $13 $1,188 $2,203 $(3,497)$— 
202037 9 20 17 1,211 2,024 (3,314)4 
201930 6 26 14 1,172 1,913 (3,159)2 
Depreciation and amortization:
2021$1,205 $348 $591 $821 $3,003 $67 $1 $6,036 
20201,133 347 550 782 2,123 79 — 5,014 
20191,033 333 502 754 1,535 95 — 4,252 
Operating expenses:
2021$5,151 $2,547 $2,860 $4,240 $20,196 $2,242 $(3,411)$33,825 
20204,950 2,512 2,598 4,045 17,358 2,047 (3,270)30,240 
20194,580 2,388 2,574 4,084 17,628 1,996 (3,154)30,096 
Interest expense, net:
2021$389 $161 $138 $267 $297 $320 $(1)$1,571 
2020382 147 133 268 357 351 (3)1,635 
2019359 136 121 263 429 308 — 1,616 
Income (loss) before income taxes:
2021$914 $516 $373 $603 $152 $(351)$1 $2,208 
2020615 417 390 418 836 (343)— 2,333 
2019851 593 439 514 1,917 (327)(2)3,985 
Income taxes:
2021$172 $12 $(35)$42 $225 $(46)$— $370 
2020177 (30)41 (77)249 13 — 373 
2019163 65 79 38 516 (87)— 774 
Net income (loss):
2021$742 $504 $408 $561 $(83)$(304)$1 $1,829 
2020438 447 349 495 579 (354)— 1,954 
ComEdPECOBGEPHIGeneration
Other(a)
Intersegment
Eliminations		Exelon
2019688 528 360 477 1,217 (240)(2)3,028 
Capital expenditures:
2021$2,387 $1,240 $1,226 $1,720 $1,329 $79 $— $7,981 
20202,217 1,147 1,247 1,604 1,747 86 — 8,048 
20191,915 939 1,145 1,355 1,845 49 — 7,248 
Total assets:
2021$36,470 $13,824 $12,324 $24,744 $48,086 $7,727 $(10,162)$133,013 
202034,466 12,531 11,650 23,736 48,094 9,005 (10,165)129,317 
__________
(a)Other primarily includes Exelon’s corporate operations, shared service entities, and other financing and investment activities.
(b)Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 24 — Supplemental Financial Information for additional information on total utility taxes.
(c)Intersegment revenues exclude sales to unconsolidated affiliates. The intersegment profit associated with Generation’s sale of certain products and services by and between Exelon’s segments is not eliminated in consolidation due to the recognition of intersegment profit in accordance with regulatory accounting guidance. For Exelon, these amounts are included in Operating revenues in the Consolidated Statements of Operations and Comprehensive Income. See Note 25 - Related Party Transactions for additional information on intersegment revenues.
PHI:
PepcoDPLACE
Other(a)
Intersegment
Eliminations		PHI
Operating revenues(b):
2021
Rate-regulated electric revenues$2,274 $1,212 $1,388 $— $(14)$4,860 
Rate-regulated natural gas revenues— 168 — — — 168 
Shared service and other revenues— — — 379 (366)13 
Total operating revenues$2,274 $1,380 $1,388 $379 $(380)$5,041 
2020
Rate-regulated electric revenues$2,149 $1,109 $1,245 $— $(18)$4,485 
Rate-regulated natural gas revenues— 162 — — — 162 
Shared service and other revenues— — — 372 (356)16 
Total operating revenues$2,149 $1,271 $1,245 $372 $(374)$4,663 
2019
Rate-regulated electric revenues$2,260 $1,139 $1,240 $— $(13)$4,626 
Rate-regulated natural gas revenues— 167 — — — 167 
Shared service and other revenues— — — 396 (383)13 
Total operating revenues$2,260 $1,306 $1,240 $396 $(396)$4,806 
Intersegment revenues(c):
2021$5 $7 $2 $380 $(381)$13 
20207 9 4 372 (375)17 
20195 7 3 396 (397)14 
Depreciation and amortization:
2021$403 $210 $179 $29 $— $821 
2020377 191 180 34 — 782 
2019374 184 157 39 — 754 
Operating expenses:
2021$1,871 $1,161 $1,201 $388 $(381)$4,240 
20201,799 1,120 1,123 378 (375)4,045 
20191,899 1,089 1,089 403 (396)4,084 
Interest expense, net:
2021$140 $61 $58 $8 $— $267 
2020138 61 59 10 — 268 
2019133 61 58 10 1 263 
Income (loss) before income taxes:
2021$311 $170 $133 $(11)$— $603 
2020259 100 71 (12)— 418 
2019259 169 99 (13)— 514 
Income taxes:
2021$15 $42 $(13)$(2)$— $42 
2020(7)(25)(41)(4)— (77)
201916 22 — — — 38 
PepcoDPLACE
Other(a)
Intersegment
Eliminations		PHI
Net income (loss):
2021$296 $128 $146 $(9)$— $561 
2020266 125 112 (8)— 495 
2019243 147 99 (12)— 477 
Capital expenditures:
2021$843 $429 $445 $3 $— $1,720 
2020773 424 401 6 — 1,604 
2019626 348 375 6 — 1,355 
Total assets:
2021$9,903 $5,412 $4,556 $4,933 $(60)$24,744 
20209,264 5,140 4,286 5,079 (33)23,736 
__________
(a)Other primarily includes PHI’s corporate operations, shared service entities, and other financing and investment activities.
(b)Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in expenses in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 24 — Supplemental Financial Information for additional information on total utility taxes.
(c)Includes intersegment revenues with ComEd, BGE, and PECO, which are eliminated at Exelon.
The following tables disaggregate the revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. For Generation, the disaggregation of revenues reflects Generation's two primary products of power sales and natural gas sales, with further disaggregation of power sales provided by geographic region. For the Utility Registrants, the disaggregation of revenues reflects the two primary utility services of rate-regulated electric sales and rate-regulated natural gas sales (where applicable), with further disaggregation of these tariff sales provided by major customer groups. Exelon's disaggregated revenues are consistent with Generation and the Utility Registrants, but exclude any intercompany revenues.
Competitive Business Revenues (Generation):
 2021
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$4,381 $183 $4,564 $20 $4,584 
Midwest4,265 (205)4,060 — 4,060 
New York1,633 (57)1,576 (1)1,575 
ERCOT896 276 1,172 9 1,181 
Other Power Regions 3,937 981 4,918 (28)4,890 
Total Competitive Businesses Electric Revenues$15,112 $1,178 $16,290 $— $16,290 
Competitive Businesses Natural Gas Revenues 1,777 1,602 3,379 — 3,379 
Competitive Businesses Other Revenues(c)
365 (385)(20)— (20)
Total Generation Consolidated Operating Revenues$17,254 $2,395 $19,649 $— $19,649 
 2020
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$4,785 $(168)$4,617 $28 $4,645 
Midwest3,717 312 4,029 (5)4,024 
New York1,444 (12)1,432 (1)1,431 
ERCOT735 198 933 25 958 
Other Power Regions 3,586 463 4,049 (47)4,002 
Total Competitive Businesses Electric Revenues$14,267 $793 $15,060 $— $15,060 
Competitive Businesses Natural Gas Revenues 1,283 720 2,003 — 2,003 
Competitive Businesses Other Revenues(c)
355 185 540 — 540 
Total Generation Consolidated Operating Revenues$15,905 $1,698 $17,603 $— $17,603 
 2019
Revenues from external customers(a)
 Contracts with customers
Other(b)
TotalIntersegment RevenuesTotal Revenues
Mid-Atlantic$5,053 $17 $5,070 $4 $5,074 
Midwest4,095 232 4,327 (34)4,293 
New York1,571 25 1,596 — 1,596 
ERCOT768 229 997 16 1,013 
Other Power Regions 3,687 608 4,295 (49)4,246 
Total Competitive Businesses Electric Revenues$15,174 $1,111 $16,285 $(63)$16,222 
Competitive Businesses Natural Gas Revenues 1,446 702 2,148 62 2,210 
Competitive Businesses Other Revenues(c)
440 51 491 1 492 
Total Generation Consolidated Operating Revenues$17,060 $1,864 $18,924 $— $18,924 
__________
(a)Includes all wholesale and retail electric sales to third parties and affiliated sales to the Utility Registrants.
(b)Includes revenues from derivatives and leases.
(c)Represents activities not allocated to a region. See text above for a description of included activities. Includes unrealized mark-to-market losses of $633 million, gains of $110 million and losses of $4 million for the years ended December 31, 2021, 2020, and 2019, respectively, and the elimination of intersegment revenues.
Revenues net of purchased power and fuel expense (Generation):
 202120202019
 
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
RNF from
external
customers(a)
Intersegment
RNF		Total
RNF
Mid-Atlantic$2,247 $17 $2,264 $2,174 $30 $2,204 $2,637 $18 $2,655 
Midwest2,717 — 2,717 2,902 — 2,902 2,994 (32)2,962 
New York1,151 10 1,161 983 14 997 1,081 13 1,094 
ERCOT(668)(157)(825)407 19 426 338 (30)308 
Other Power Regions 984 (93)891 759 (94)665 694 (74)620 
Total RNF for Reportable Segments$6,431 $(223)$6,208 $7,225 $(31)$7,194 $7,744 $(105)$7,639 
Other(b)
1,055 223 1,278 793 31 824 324 105 429 
Total Generation RNF$7,486 $— $7,486 $8,018 $— $8,018 $8,068 $— $8,068 
__________ 
(a)Includes purchases and sales from/to third parties and affiliated sales to the Utility Registrants.
(b)Other represents activities not allocated to a region. See text above for a description of included activities. Primarily includes:
•unrealized mark-to-market gains of $565 million and $295 million and losses of $215 million for the years ended December 31, 2021, 2020, and 2019, respectively;
•accelerated nuclear fuel amortization associated with the announced early plant retirements as discussed in Note 7 - Early Plant Retirements of $148 million, $60 million, and $13 million in for the years ended December 31, 2021, 2020, and 2019, respectively; and
•the elimination of intersegment RNF.
Electric and Gas Revenue by Customer Class (Utility Registrants):
2021
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Rate-regulated electric revenues
Residential$3,233 $1,704 $1,375 $2,441 $1,003 $694 $744 
Small commercial & industrial1,571 422 267 521 135 193 193 
Large commercial & industrial559 243 459 1,123 844 94 185 
Public authorities & electric railroads45 31 27 58 31 14 13 
Other(a)
926 229 371 634 205 201 229 
Total rate-regulated electric revenues(b)
$6,334 $2,629 $2,499 $4,777 $2,218 $1,196 $1,364 
Rate-regulated natural gas revenues
Residential$— $372 $518 $97 $— $97 $— 
Small commercial & industrial— 136 83 42 — 42 — 
Large commercial & industrial— — 147 7 — 7 — 
Transportation— 24 — 14 — 14 — 
Other(c)
— 7 68 8 — 8 — 
Total rate-regulated natural gas revenues(d)
$— $539 $816 $168 $— $168 $— 
Total rate-regulated revenues from contracts with customers$6,334 $3,168 $3,315 $4,945 $2,218 $1,364 $1,364 
Other revenues
Revenues from alternative revenue programs$42 $26 $12 $91 $53 $14 $24 
Other rate-regulated electric revenues(e)
30 4 11 5 3 2 — 
Other rate-regulated natural gas revenues(e)
— — 3 — — — — 
Total other revenues$72 $30 $26 $96 $56 $16 $24 
Total rate-regulated revenues for reportable segments$6,406 $3,198 $3,341 $5,041 $2,274 $1,380 $1,388 
2020
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Rate-regulated electric revenues
Residential$3,090 $1,656 $1,345 $2,332 $988 $652 $692 
Small commercial & industrial1,399 386 241 472 132 171 169 
Large commercial & industrial515 228 406 1,001 736 89 176 
Public authorities & electric railroads45 29 27 60 34 13 13 
Other(a)
884 225 309 613 218 190 207 
Total rate-regulated electric revenues(b)
$5,933 $2,524 $2,328 $4,478 $2,108 $1,115 $1,257 
Rate-regulated natural gas revenues
Residential$— $361 $504 $96 $— $96 $— 
Small commercial & industrial— 126 79 42 — 42 — 
Large commercial & industrial— — 135 4 — 4 — 
Transportation— 24 — 14 — 14 — 
Other(c)
— 4 29 6 — 6 — 
Total rate-regulated natural gas revenues(d)
$— $515 $747 $162 $— $162 $— 
Total rate-regulated revenues from contracts with customers$5,933 $3,039 $3,075 $4,640 $2,108 $1,277 $1,257 
Other revenues
Revenues from alternative revenue programs$(47)$16 $16 $21 $40 $(7)$(12)
Other rate-regulated electric revenues(e)
18 3 5 2 1 1 — 
Other rate-regulated natural gas revenues(e)
— — 2 — — — — 
Total other revenues$(29)$19 $23 $23 $41 $(6)$(12)
Total rate-regulated revenues for reportable segments$5,904 $3,058 $3,098 $4,663 $2,149 $1,271 $1,245 
2019
Revenues from contracts with customersComEdPECOBGEPHIPepcoDPLACE
Rate-regulated electric revenues
Residential$2,916 $1,596 $1,326 $2,316 $1,012 $645 $659 
Small commercial & industrial1,463 404 254 505 149 186 170 
Large commercial & industrial540 219 436 1,112 833 99 180 
Public authorities & electric railroads47 29 27 61 34 14 13 
Other(a)
888 249 321 650 227 204 218 
Total rate-regulated electric revenues(b)
$5,854 $2,497 $2,364 $4,644 $2,255 $1,148 $1,240 
Rate-regulated natural gas revenues
Residential$— $409 $474 $96 $— $96 $— 
Small commercial & industrial— 169 77 44 — 45 — 
Large commercial & industrial— 1 132 5 — 5 — 
Transportation— 25 — 14 — 14 — 
Other(c)
— 6 31 7 — 7 — 
Total rate-regulated natural gas revenues(d)
$— $610 $714 $166 $— $167 $— 
Total rate-regulated revenues from contracts with customers$5,854 $3,107 $3,078 $4,810 $2,255 $1,315 $1,240 
Other revenues
Revenues from alternative revenue programs$(133)$(21)$12 $(14)$(3)$(11)$— 
Other rate-regulated electric revenues(e)
26 13 12 10 8 2 — 
Other rate-regulated natural gas revenues(e)
— 1 4 — — — — 
Total other revenues$(107)$(7)$28 $(4)$5 $(9)$— 
Total rate-regulated revenues for reportable segments$5,747 $3,100 $3,106 $4,806 $2,260 $1,306 $1,240 
__________
(a)Includes revenues from transmission revenue from PJM, wholesale electric revenue and mutual assistance revenue.
(b)Includes operating revenues from affiliates in 2021, 2020, and 2019 respectively of:
•$41 million, $37 million, and $30 million at ComEd
•$20 million, $8 million, and $5 million at PECO
•$13 million, $10 million, and $8 million at BGE
•$13 million, $17 million, and $14 million at PHI
•$5 million, $7 million, and $5 million at Pepco
•$7 million, $9 million, and $7 million at DPL
•$2 million, $4 million, and $3 million at ACE
(c)Includes revenues from off-system natural gas sales.
(d)Includes operating revenues from affiliates in 2021, 2020, and 2019 respectively of:
•$1 million, $1 million, and $1 million at PECO
•$18 million, $10 million, and $18 million at BGE
(e)Includes late payment charge revenues.