XML 57 R3.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income (loss) $ 598 $ (264)
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 1,024 2,104
Asset impairments 0 1
Gain on sales of assets and businesses (10) (71)
Deferred income taxes and amortization of investment tax credits 110 (142)
Net fair value changes related to derivatives (59) (178)
Net realized and unrealized (gains) losses on NDT funds 205 (118)
Net unrealized (gains) losses on equity investments 16 23
Other non-cash operating activities 232 (170)
Changes in assets and liabilities:    
Accounts receivable (711) (372)
Inventories 125 77
Accounts payable and accrued expenses 291 (176)
Option premiums (paid) received, net (39) 16
Collateral received (posted), net 1,142 273
Income taxes 77 113
Pension and non-pension postretirement benefit contributions (574) (537)
Other assets and liabilities (645) (1,840)
Net Cash Provided by (Used in) Operating Activities, Total 1,782 (1,261)
Cash flows from investing activities    
Capital expenditures (1,922) (2,140)
Proceeds from NDT fund sales 488 2,908
Investment in NDT funds (516) (2,939)
Collection of deferred purchase price 169 1,574
Proceeds from Sale of Property Held-for-sale 16 680
Other investing activities (54) 12
Net Cash Provided by (Used in) Investing Activities, Total (1,819) 95
Cash flows from financing activities    
Changes in short-term borrowings (700) 597
Proceeds from short-term borrowings with maturities greater than 90 days 1,150 500
Repayments on short-term borrowings with maturities greater than 90 days (350) 0
Issuance of long-term debt 4,301 1,705
Retirement of long-term debt (6) (79)
Dividends paid on common stock (332) (374)
Proceeds from employee stock plans 9 31
Transfer of cash, restricted cash, and cash equivalents to Constellation (2,594) 0
Other financing activities (62) (46)
Net cash flows provided by financing activities 1,416 2,334
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 1,379 1,168
Cash, restricted cash, and cash equivalents at beginning of period 1,619 1,166
Cash, restricted cash, and cash equivalents at end of period 2,998 2,334
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (322) (324)
Increase in deferred purchase price 348 1,339
Increase in PPE related to ARO update (335) 2
Exelon Generation Co L L C [Member]    
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 207 1,346
Gain on sales of assets and businesses 9 (71)
Deferred income taxes and amortization of investment tax credits (143) (234)
Net fair value changes related to derivatives (59) (178)
Net realized and unrealized (gains) losses on NDT funds 205 (118)
Net unrealized (gains) losses on equity investments 16 23
Other non-cash operating activities (36) 332
Cash flows from investing activities    
Capital expenditures (227) (394)
Collection of deferred purchase price 169 1,574
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (128) (37)
Increase in deferred purchase price 348 1,339
Increase in PPE related to ARO update 335 0
Commonwealth Edison Co [Member]    
Cash flows from operating activities    
Net income (loss) 188 197
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 321 292
Deferred income taxes and amortization of investment tax credits 54 63
Other non-cash operating activities (9) (9)
Changes in assets and liabilities:    
Accounts receivable (45) 23
Change in receivables from payables to affiliates, net (42) (15)
Inventories 3 (1)
Accounts payable and accrued expenses (154) (176)
Collateral received (posted), net 43 5
Income taxes (2) (23)
Pension and non-pension postretirement benefit contributions (176) (171)
Other assets and liabilities (37) (159)
Net Cash Provided by (Used in) Operating Activities, Total 144 26
Cash flows from investing activities    
Capital expenditures (617) (613)
Other investing activities 7 7
Net Cash Provided by (Used in) Investing Activities, Total (610) (606)
Cash flows from financing activities    
Changes in short-term borrowings 0 (188)
Issuance of long-term debt 750 700
Dividends paid on common stock (144) (127)
Contributions from parent 167 198
Other financing activities (10) (9)
Net cash flows provided by financing activities 763 574
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 297 (6)
Cash, restricted cash, and cash equivalents at beginning of period 384 405
Cash, restricted cash, and cash equivalents at end of period 681 399
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (50) (107)
PECO Energy Co [Member]    
Cash flows from operating activities    
Net income (loss) 206 167
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 92 86
Deferred income taxes and amortization of investment tax credits 14 6
Other non-cash operating activities 15 12
Changes in assets and liabilities:    
Accounts receivable (40) (5)
Change in receivables from payables to affiliates, net (31) (2)
Inventories 27 13
Accounts payable and accrued expenses (24) (36)
Income taxes 0 3
Pension and non-pension postretirement benefit contributions (12) (16)
Other assets and liabilities (106) (103)
Net Cash Provided by (Used in) Operating Activities, Total 141 125
Cash flows from investing activities    
Capital expenditures (344) (295)
Changes in Exelon/PHI intercompany money pool 0 (48)
Other investing activities 2 1
Net Cash Provided by (Used in) Investing Activities, Total (342) (342)
Cash flows from financing activities    
Issuance of long-term debt 0 375
Increase (Decrease) in Due to Affiliates, Current 65 (40)
Dividends paid on common stock (100) (85)
Contributions from parent 227 0
Other financing activities (1) (4)
Net cash flows provided by financing activities 191 246
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total (10) 29
Cash, restricted cash, and cash equivalents at beginning of period 44 26
Cash, restricted cash, and cash equivalents at end of period 34 55
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (41) (44)
Baltimore Gas and Electric Company [Member]    
Cash flows from operating activities    
Net income (loss) 198 209
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 171 152
Deferred income taxes and amortization of investment tax credits 5 (4)
Other non-cash operating activities 44 2
Changes in assets and liabilities:    
Accounts receivable (80) 12
Change in receivables from payables to affiliates, net (2) (15)
Inventories 32 9
Accounts payable and accrued expenses (30) (59)
Income taxes 4 (9)
Pension and non-pension postretirement benefit contributions (56) (65)
Other assets and liabilities (9) (103)
Net Cash Provided by (Used in) Operating Activities, Total 277 129
Cash flows from investing activities    
Capital expenditures (303) (336)
Other investing activities 3 2
Net Cash Provided by (Used in) Investing Activities, Total (300) (334)
Cash flows from financing activities    
Changes in short-term borrowings 120 156
Dividends paid on common stock (76) (74)
Other financing activities (1) 0
Net cash flows provided by financing activities 43 82
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 20 (123)
Cash, restricted cash, and cash equivalents at beginning of period 55 145
Cash, restricted cash, and cash equivalents at end of period 75 22
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (32) (80)
Pepco Holdings LLC [Member]    
Cash flows from operating activities    
Net income (loss) 130 128
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 218 210
Deferred income taxes and amortization of investment tax credits 2 4
Other non-cash operating activities 35 (25)
Changes in assets and liabilities:    
Accounts receivable (21) 56
Change in receivables from payables to affiliates, net (51) (18)
Inventories 7 5
Accounts payable and accrued expenses (23) (24)
Income taxes 5 3
Pension and non-pension postretirement benefit contributions (67) (36)
Other assets and liabilities (3) (94)
Net Cash Provided by (Used in) Operating Activities, Total 232 209
Cash flows from investing activities    
Capital expenditures (409) (456)
Other investing activities 2 1
Net Cash Provided by (Used in) Investing Activities, Total (407) (455)
Cash flows from financing activities    
Changes in short-term borrowings (468) (368)
Issuance of long-term debt 700 625
Retirement of long-term debt 0 (44)
Increase (Decrease) in Due to Affiliates, Current 39 3
Payments of Distributions to Affiliates (102) (81)
Proceeds from Contributions from Affiliates 704 560
Other financing activities (9) (5)
Net cash flows provided by financing activities 864 690
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 689 444
Cash, restricted cash, and cash equivalents at beginning of period 213 160
Cash, restricted cash, and cash equivalents at end of period 902 604
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (55) (33)
Potomac Electric Power Company [Member]    
Cash flows from operating activities    
Net income (loss) 46 59
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 108 102
Deferred income taxes and amortization of investment tax credits (2) 4
Other non-cash operating activities 12 (25)
Changes in assets and liabilities:    
Accounts receivable (2) 26
Change in receivables from payables to affiliates, net (25) (9)
Inventories 0 1
Accounts payable and accrued expenses 5 0
Income taxes 1 2
Pension and non-pension postretirement benefit contributions (5) (5)
Other assets and liabilities (18) (58)
Net Cash Provided by (Used in) Operating Activities, Total 120 97
Cash flows from investing activities    
Capital expenditures (218) (220)
Other investing activities 1 1
Net Cash Provided by (Used in) Investing Activities, Total (217) (219)
Cash flows from financing activities    
Changes in short-term borrowings (175) (35)
Issuance of long-term debt 400 150
Dividends paid on common stock (42) (28)
Contributions from parent 387 138
Other financing activities (5) (1)
Net cash flows provided by financing activities 565 224
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 468 102
Cash, restricted cash, and cash equivalents at beginning of period 68 65
Cash, restricted cash, and cash equivalents at end of period 536 167
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (36) (16)
Delmarva Power and Light Company [Member]    
Cash flows from operating activities    
Net income (loss) 56 56
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 57 53
Deferred income taxes and amortization of investment tax credits 5 2
Other non-cash operating activities 9 (1)
Changes in assets and liabilities:    
Accounts receivable (17) 15
Change in receivables from payables to affiliates, net (17) (11)
Inventories 8 2
Accounts payable and accrued expenses 15 11
Income taxes (1) 3
Pension and non-pension postretirement benefit contributions (1) 0
Other assets and liabilities 33 (26)
Net Cash Provided by (Used in) Operating Activities, Total 147 104
Cash flows from investing activities    
Capital expenditures (103) (112)
Other investing activities 1 0
Net Cash Provided by (Used in) Investing Activities, Total (102) (112)
Cash flows from financing activities    
Changes in short-term borrowings (149) (146)
Issuance of long-term debt 125 125
Dividends paid on common stock (41) (40)
Contributions from parent 144 120
Other financing activities (2) (2)
Net cash flows provided by financing activities 77 57
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 122 49
Cash, restricted cash, and cash equivalents at beginning of period 71 15
Cash, restricted cash, and cash equivalents at end of period 193 64
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (8) (15)
Atlantic City Electric Company [Member]    
Cash flows from operating activities    
Net income (loss) 26 14
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 47 47
Deferred income taxes and amortization of investment tax credits 1 (1)
Other non-cash operating activities 2 (7)
Changes in assets and liabilities:    
Accounts receivable (1) 13
Change in receivables from payables to affiliates, net (6) 1
Inventories (1) 3
Accounts payable and accrued expenses (17) (11)
Income taxes 0 1
Pension and non-pension postretirement benefit contributions (7) (3)
Other assets and liabilities 0 (3)
Net Cash Provided by (Used in) Operating Activities, Total 44 54
Cash flows from investing activities    
Capital expenditures (87) (123)
Net Cash Provided by (Used in) Investing Activities, Total (87) (123)
Cash flows from financing activities    
Changes in short-term borrowings (144) (187)
Issuance of long-term debt 175 350
Retirement of long-term debt 0 (44)
Dividends paid on common stock (19) (14)
Contributions from parent 173 303
Other financing activities (3) (3)
Net cash flows provided by financing activities 182 405
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 139 336
Cash, restricted cash, and cash equivalents at beginning of period 29 30
Cash, restricted cash, and cash equivalents at end of period 168 366
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid $ (10) $ (2)