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Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Defined Benefit Plan Change In Benefit Obligation RollForward
The following tables provide a rollforward of the changes in the benefit obligations and plan assets of Exelon for the most recent two years for all plans combined:
Pension BenefitsOPEB
2021202020212020
Change in benefit obligation:
Net benefit obligation as of the beginning of year$14,861 $13,652 $2,661 $2,692 
Service cost294 251 51 56 
Interest cost406 476 69 93 
Plan participants’ contributions— — 32 31 
Actuarial (gain) loss(a)
(442)1,252 (116)38 
Plan amendments— — — (64)
Settlements(23)(19)(5)(5)
Gross benefits paid(860)(751)(190)(180)
Net benefit obligation as of the end of year$14,236 $14,861 $2,502 $2,661 
 Pension BenefitsOPEB
2021202020212020
Change in plan assets:
Fair value of net plan assets as of the beginning of year$11,883 $10,859 $1,635 $1,627 
Actual return on plan assets822 1,488 130 122 
Employer contributions343 306 63 40 
Plan participants’ contributions— — 32 31 
Gross benefits paid(860)(751)(190)(180)
Settlements(23)(19)(5)(5)
Fair value of net plan assets as of the end of year$12,165 $11,883 $1,665 $1,635 
__________
(a)The pension and OPEB gains in 2021 primarily reflect an increase in the discount rate. In 2020, the actuarial losses primarily reflect a decrease in the discount rate. OPEB losses in 2020 were offset by gains related to plan changes.
Schedule of Amounts Recognized in Balance Sheet
Exelon presents its benefit obligations and plan assets net on its balance sheet within the following line items:
 Pension BenefitsOPEB
2021202020212020
Other current liabilities$20 $32 $26 $24 
Pension obligations2,051 2,946 — — 
Non-pension postretirement benefit obligations— — 811 1,002 
Unfunded status (net benefit obligation less plan assets)$2,071 $2,978 $837 $1,026 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets
The following table provides the ABO and fair value of plan assets for all pension plans with an ABO in excess of plan assets. Information for pension and OPEB plans with projected benefit obligations (PBO) and accumulated postretirement benefit obligation (APBO), respectively, in excess of plan assets has been disclosed in the Obligations and Plan Assets table above as all pension and OPEB plans are underfunded.
Exelon
ABO in Excess of Plan Assets20212020
ABO$13,497 $14,037 
Fair value of net plan assets12,165 11,883 
Calculation of Net Periodic Benefit Costs The following table presents the components of Exelon’s net periodic benefit costs, prior to capitalization, for the years ended December 31, 2021, 2020, and 2019.
 Pension BenefitsOPEB
202120202019202120202019
Components of net periodic benefit cost:
Service cost$294 $251 $218 $51 $56 $55 
Interest cost406 476 553 69 93 114 
Expected return on assets(843)(796)(763)(99)(101)(95)
Amortization of:
Prior service cost (credit)2 3 1 (25)(76)(104)
Actuarial loss399 349 289 27 34 32 
Curtailment benefits— — — — (1)— 
Settlement and other charges7 6 6 1 1 — 
Contractual termination benefits— — 1 — — — 
Net periodic benefit cost$265 $289 $305 $24 $6 $2 
Schedule Of Pension And Other Postretirement Benefit Costs The amounts below represent the Registrants' allocated pension and OPEB costs. For Exelon, the service cost component is included in Operating and maintenance expense and Property, plant, and equipment, net while the non-service cost components are included in Other, net and Regulatory assets. For the Utility Registrants, the service cost and non-service cost components are included in Operating and maintenance expense and Property, plant, and equipment, net in their consolidated financial statements.
For the Years Ended December 31,ExelonComEdPECOBGEPHIPepcoDPLACE
2021$288 $129 $8 $64 $49 $6 $2 $11 
2020296 114 5 64 70 15 7 14 
2019307 96 12 61 95 25 15 16 
Changes In Plan Assets And Benefit Obligations Recognized In OCI And Regulatory Assets The following tables provide the components of AOCI and regulatory assets (liabilities) for Exelon for the years ended December 31, 2021, 2020, and 2019 for all plans combined. The tables include amounts related to Generation prior to the separation.
 Pension BenefitsOPEB
202120202019202120202019
Changes in plan assets and benefit obligations recognized in AOCI and regulatory assets (liabilities):
Current year actuarial (gain) loss$(700)$941 $538 $(270)$22 $80 
Amortization of actuarial loss(598)(512)(414)(37)(49)(45)
Current year prior service cost (credit)— — 68 — (111)— 
Amortization of prior service (cost) credit(3)(4)— 34 124 179 
Curtailments— — (3)— 1 — 
Settlements(27)(14)(17)(1)(1)(1)
Total recognized in AOCI and regulatory assets (liabilities)$(1,328)$411 $172 $(274)$(14)$213 
Total recognized in AOCI$(747)$271 $169 $(130)$6 $107 
Total recognized in regulatory assets (liabilities)$(581)$140 $3 $(144)$(20)$106 
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
The following table provides the components of gross accumulated other comprehensive loss and regulatory assets (liabilities) for Exelon that have not been recognized as components of periodic benefit cost as of December 31, 2021 and 2020, respectively, for all plans combined:
 Pension BenefitsOPEB
2021202020212020
Prior service cost (credit)$32 $35 $(111)$(145)
Actuarial loss6,752 8,077 230 538 
Total$6,784 $8,112 $119 $393 
Total included in AOCI$3,592 $4,339 $53 $183 
Total included in regulatory assets (liabilities)$3,192 $3,773 $66 $210 
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation For Exelon, the following assumptions were used to determine the benefit obligations for the plans as of December 31, 2021 and 2020. Assumptions used to determine year-end benefit obligations are the assumptions used to estimate the subsequent year’s net periodic benefit costs.
 Pension BenefitsOPEB
2021 2020 2021 2020 
Discount rate2.92 %
(a) 
2.58 %
(a) 
2.88 %
(a) 
2.51 %
(a) 
Investment crediting rate3.75 %
(b) 
3.72 %
(b) 
N/AN/A
Rate of compensation increase3.75 %3.75 %3.75 %3.75 %
Mortality tablePri-2012 table with MP- 2021 improvement scale (adjusted)Pri-2012 table with MP- 2020 improvement scale (adjusted)Pri-2012 table with MP- 2021 improvement scale (adjusted) Pri-2012 table with MP- 2020 improvement scale (adjusted)
Health care cost trend on covered chargesN/AN/A
Initial and ultimate rate of 5.00%

Initial and ultimate trend of 5.00%
__________
(a)The discount rates above represent the blended rates used to determine the majority of Exelon’s pension and OPEB obligations. Certain benefit plans used individual rates, which range from 2.55% - 3.02% and 2.84% - 2.92% for pension and OPEB plans, respectively, as of December 31, 2021 and 2.11% - 2.73% and 2.45% - 2.63% for pension and OPEB plans, respectively, as of December 31, 2020.
(b)The investment crediting rate above represents a weighted average rate.
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost
The following assumptions were used to determine the net periodic benefit cost for Exelon for the years ended December 31, 2021, 2020 and 2019: 

 Pension Benefits OPEB 
2021 2020 2019 2021 2020 2019 
Discount rate2.58 %
(a) 
3.34 %
(a) 
4.31 %
(a) 
2.51 %
(a) 
3.31 %
(a) 
4.30 %
(a) 
Investment crediting rate3.72 %
(b) 
3.82 %
(b) 
4.46 %
(b) 
N/AN/AN/A
Expected return on plan assets7.00 %
(c) 
7.00 %
(c) 
7.00 %
(c) 
6.46 %
(c) 
6.69 %
(c) 
6.67 %
(c) 
Rate of compensation increase3.75 %
(d) 
3.75 %
(d) 
3.25 %
(d) 
3.75 %
(d) 
3.75 %
(d) 
3.25 %
(d) 
Mortality tablePri-2012 table with MP- 2020 improvement scale (adjusted)Pri-2012 table with MP - 2019 improvement scale (adjusted)RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)Pri-2012 table with MP- 2020 improvement scale (adjusted)Pri-2012 table with MP - 2019 improvement scale (adjusted)RP-2000 table projected to 2012 with improvement scale AA, with Scale BB-2D improvements (adjusted)
Health care cost trend on covered chargesN/AN/AN/A
Initial and ultimate rate of 5.00%
Initial and ultimate rate of 5.00%
5.00% with ultimate trend of 5.00% in 2017
__________
(a)The discount rates above represent the blended rates used to establish the majority of Exelon’s pension and OPEB costs. Certain benefit plans used individual rates, which range from 2.11%-2.73% and 2.45%-2.63% for pension and OPEB plans, respectively, for the year ended December 31, 2021; 3.02%-3.44% and 3.27%-3.40% for pension and OPEB plans; respectively, for the year ended December 31, 2020; and 4.13%-4.36% and 4.27%-4.38% for pension and OPEB plans, respectively, for the year ended December 31, 2019.
(b)The investment crediting rate above represents a weighted average rate.
(c)Not applicable to pension and OPEB plans that do not have plan assets.
(d)3.25% through 2019 and 3.75% thereafter.
Pension And Other Postretirement Benefit Contributions The following tables provide contributions to the pension and OPEB plans:
 Pension BenefitsOPEB
 2021202020192021 2020 2019
Exelon$343 $306 $196 $63 $40 $36 
ComEd174 143 72 22 5 5 
PECO17 18 27 1 — 1 
BGE57 56 34 24 22 14 
PHI39 30 10 9 9 15 
Pepco 2 2 2 9 9 12 
DPL 1 — 1 — — — 
ACE 3 2 — — — 1 
The following table provides all Registrants' planned contributions to the qualified pension plans, planned benefit payments to non-qualified pension plans, and planned contributions to OPEB plans in 2022:
Qualified Pension PlansNon-Qualified Pension PlansOPEB
Exelon$313 $23 $39 
ComEd173 2 12 
PECO12 1 2 
BGE48 2 16 
PHI60 10 7 
Pepco2 1 6 
DPL1 1 — 
ACE7 — — 
Schedule of Expected Benefit Payments
Estimated future benefit payments to participants in all of the pension plans and postretirement benefit plans as of December 31, 2021 were:
Pension BenefitsOPEB
2022$769 $146 
2023775 147 
2024792 147 
2025794 147 
2026792 149 
2027 through 20314,021 742 
Total estimated future benefits payments through 2031$7,943 $1,478 
Defined Benefit Plan Weighted Average Asset Allocations And Target Allocations
Exelon’s pension and OPEB plan target asset allocations as of December 31, 2021 and 2020 were as follows:
December 31, 2021December 31, 2020
Asset CategoryPension BenefitsOPEBPension BenefitsOPEB
Equity securities35 %44 %34 %45 %
Fixed income securities41 %41 %43 %39 %
Alternative investments(a)
24 %15 %23 %16 %
Total100 %100 %100 %100 %
__________
(a)Alternative investments include private equity, hedge funds, real estate, and private credit.
Defined Benefit Plan Fair Value Of Plan Assets
The following tables present pension and OPEB plan assets measured and recorded at fair value in Exelon's Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy as of December 31, 2021 and 2020:
December 31, 2021December 31, 2020
Level 1Level 2Level 3Not subject to levelingTotalLevel 1Level 2Level 3Not subject to levelingTotal
Pension plan assets(a)
Cash equivalents$260 $91 $— $— $351 $238 $71 $— $— $309 
Equities(b)
2,699 — 2 1,273 3,974 2,485 — 1 1,491 3,977 
Fixed income:
U.S. Treasury and agencies1,002 176 — — 1,178 664 214 — — 878 
State and municipal debt— 47 — — 47 — 50 — — 50 
Corporate debt(c)
— 2,523 325 — 2,848 — 2,846 336 — 3,182 
Other(b)
43 161 12 301 517 — 140 12 314 466 
Fixed income subtotal1,045 2,907 337 301 4,590 664 3,250 348 314 4,576 
Private equity— — — 1,124 1,124 — — — 953 953 
Hedge funds— — — 774 774 — — — 768 768 
Real estate— — — 760 760 — — — 631 631 
Private credit— — 130 603 733 — — 136 611 747 
Pension plan assets subtotal 4,004 2,998 469 4,835 12,306 3,387 3,321 485 4,768 11,961 
OPEB plan assets(a)
Cash equivalents54 41 — — 95 32 33 — — 65 
Equities387 2 — 324 713 396 1 — 364 761 
Fixed income:
U.S. Treasury and agencies14 44 — — 58 10 42 — — 52 
State and municipal debt— 7 — — 7 — 57 — — 57 
Corporate debt(c)
— 74 — — 74 — 57 — — 57 
Other223 4 — 136 363 182 2 — 115 299 
Fixed income subtotal237 129 — 136 502 192 158 — 115 465 
Hedge funds— — — 175 175 — — — 197 197 
Real estate— — — 86 86 — — — 71 71 
Private credit— — — 84 84 — — — 75 75 
OPEB plan assets subtotal678 172 — 805 1,655 620 192 — 822 1,634 
Total pension and OPEB plan assets(d)
$4,682 $3,170 $469 $5,640 $13,961 $4,007 $3,513 $485 $5,590 $13,595 
__________
(a)See Note 16—Fair Value of Financial Assets and Liabilities for a description of levels within the fair value hierarchy.
(b)Includes derivative instruments of $(2) million and $1 million for the years ended December 31, 2021 and 2020, respectively, which have total notional amounts of $3,481 million and $4,018 million as of December 31, 2021 and 2020, respectively. The notional principal amounts for these instruments provide one measure of the transaction volume
outstanding as of the fiscal years ended and do not represent the amount of the company’s exposure to credit or market loss.
(c)Includes investments in equities sold short held in investment vehicles primarily to hedge the equity option component of its convertible debt. Pension equities sold short totaled $(44) million and $(56) million as of December 31, 2021 and 2020, respectively. OPEB equities sold short totaled $(18) million and $(27) million as of December 31, 2021 and 2020, respectively.
(d)Excludes net liabilities of $131 million and $77 million as of December 31, 2021 and 2020, respectively, which include certain derivative assets that have notional amounts of $127 million and $140 million as of December 31, 2021 and 2020, respectively. These items are required to reconcile to the fair value of net plan assets and consist primarily of receivables or payables related to pending securities sales and purchases, interest and dividends receivable, and repurchase agreement obligations. The repurchase agreements generally have maturities ranging from 3-6 months.
Schedule of Changes in Fair Value of Plan Assets
The following table presents the reconciliation of Level 3 assets and liabilities for Exelon measured at fair value for pension and OPEB plans for the years ended December 31, 2021 and 2020:
Fixed IncomeEquitiesPrivate
Credit		Total
Pension Assets
Balance as of January 1, 2021$348 $1 $136 $485 
Actual return on plan assets:
Relating to assets still held as of the
reporting date		(12)— 18 6 
Purchases, sales and settlements:
Purchases10 — 5 15 
Settlements(a)
(13)— (29)(42)
Transfers into Level 34 1 — 5 
Balance as of December 31, 2021$337 $2 $130 $469 
Fixed IncomeEquitiesPrivate
Credit		Total
Pension Assets
Balance as of January 1, 2020$144 $3 $138 $285 
Actual return on plan assets:
Relating to assets still held as of the
reporting date
11 (2)9 18 
Purchases, sales and settlements:
Purchases20 — 14 34 
Settlements(a)
(2)— (25)(27)
Transfers into Level 3(b)
175 — — 175 
Balance as of December 31, 2020$348 $1 $136 $485 
__________
(a)Represents cash settlements only.
(b)In 2020, a contract was terminated for a certain fixed income commingled fund resulting in the ownership of certain fixed income securities which led to a transfer into Level 3 from not subject to leveling of $175 million.
Schedule Of Defined Contributions
The Registrants participate in various 401(k) defined contribution savings plans that are sponsored by Exelon. The plans are qualified under applicable sections of the IRC and allow employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. All Registrants match a percentage of the employee contributions up to certain limits. The following table presents matching contributions to the savings plan for the years ended December 31, 2021, 2020, and 2019:
For the Years Ended December 31,ExelonComEdPECOBGEPHIPepcoDPLACE
2021$90 $35 $12 $12 14 $4 $3 $2 
202095 36 12 13 14 4 3 3 
201988 35 11 12 13 3 3 2