Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2021

The following tables present the rollforward of Allowance for Credit Losses on Customer Accounts Receivable.


	Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	366	$	97	$	116	$	35	$	86	$	32	$	22	$	32
Plus: Current period provision for expected credit losses(a)	126		21		23		15		37		13		6		18
Less: Write-offs, net of recoveries(b)(c)	117		45		34		12		19		8		10		1

Balance as of December 31, 2021	$	375	$	73	$	105	$	38	$	104	$	37	$	18	$	49

	Year Ended December 31, 2020
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2019	$	243	$	59	$	55	$	12	$	37	$	13	$	11	$	13
Plus: Current period provision for expected credit losses(d)	248		62		79		30		64		24		15		25
Less: Write-offs, net of recoveries(c)	69		24		18		7		15		5		4		6
Less: Sale of customer accounts receivable(e)	56		—		—		—		—		—		—		—
Balance as of December 31, 2020	$	366	$	97	$	116	$	35	$	86	$	32	$	22	$	32

_________

(a)For Exelon, the increase primarily relates to the impacts of the February 2021 extreme cold weather event. See Note 3 — Regulatory Matters for additional information. For the Utility Registrants, the increase is primarily a result of increased aging of receivables.

(b)For ComEd, PECO and DPL, the increase in 2021 is primarily related to the termination of the moratorium which, beginning in March 2020, prevented customer disconnections for non-payment. With disconnection activities restarting in 2021, write-offs of aging accounts receivable increased throughout the year.

(c)Recoveries were not material to the Registrants.

(d)The increase is primarily as a result of increased aging of receivables, the temporary suspension of customer disconnections for non-payment, temporary cessation of new late payment fees, and reconnection of service to customers previously disconnected due to COVID-19.

(e)See below for additional information on the sale of customer accounts receivable in the second quarter of 2020.

The following tables present the rollforward of Allowance for Credit Losses on Other Accounts Receivable.


	Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2020	$	71	$	21	$	8	$	9	$	33	$	13	$	9	$	11
Plus: Current period provision for expected credit losses	15		(2)		3		4		6		3		(1)		4
Less: Write-offs, net of recoveries(a)	10		2		4		4		—		—		—		—
Balance as of December 31, 2021	$	76	$	17	$	7	$	9	$	39	$	16	$	8	$	15

	Year Ended December 31, 2020
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance as of December 31, 2019	$	48	$	20	$	7	$	5	$	16	$	7	$	4	$	5
Plus: Current period provision for expected credit losses	33		5		3		7		18		6		5		7
Less: Write-offs, net of recoveries(a)	10		4		2		3		1		—		—		1
Balance as of December 31, 2020	$	71	$	21	$	8	$	9	$	33	$	13	$	9	$	11

_________

(a)Recoveries were not material to the Registrants.

Unbilled Customer Revenue

The following table provides additional information about unbilled customer revenues recorded in the Registrants' Consolidated Balance Sheets as of December 31, 2021 and 2020.


	Unbilled customer revenues(a)
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
December 31, 2021	$	1,120	$	240	$	161	$	171	$	175	$	82	$	53	$	40
December 31, 2020	998		218		147		197		178		87		62		29

_________

(a)Unbilled customer revenues are classified in Customer accounts receivables, net in the Registrants' Consolidated Balance Sheets.

Purchases and Sales of Accounts Receivable

The following table summarizes the impact of the sale of certain receivables:


	As of December 31,
	2021		2020
Derecognized receivables transferred at fair value	$	1,265	$	1,139
Cash proceeds received	900		500
DPP	365		639


	For the Year Ended December 31,
	2021		2020
Loss on sale of receivables(a)	$	36	$	30

_________

(a)Reflected in Operating and maintenance expense in Exelon's Consolidated Statements of Operations and Comprehensive Income.


	For the Year Ended December 31,
	2021		2020
Proceeds from new transfers(a)	$	6,095	$	2,816
Cash collections received on DPP and reinvested in the Facility(b)	3,502		3,771
Cash collections reinvested in the Facility	9,597		6,587

_________

(a)Customer accounts receivable sold into the Facility were $9,747 million and $6,608 million for the years ended December 31, 2021 and December 31, 2020, respectively.

(b)Does not include the $400 million in cash proceeds received from the Purchasers in the first quarter of 2021.

The following tables present the total receivables purchased and sold.


	Year Ended December 31, 2021
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Total receivables purchased	$	3,817	$	1,031	$	1,041	$	687	$	1,081	$	660	$	217	$	204
Total receivables sold	124		—		—		—		—		—		—		—

Related party transactions:
Receivables purchased from Generation	—		1		1		21		—		—		—		—


	Year Ended December 31, 2020
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Total receivables purchased	$	3,529	$	1,094	$	1,020	$	652	$	1,015	$	622	$	207	$	186
Total receivables sold	572		—		—		—		—		—		—		—

Related party transactions:
Receivables purchased from Generation	—		34		67		79		72		51		13		8