Revenue from Contracts with Customers (All Registrants)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers (All Registrants)

Revenue from Contracts with Customers (All Registrants)

The Registrants recognize revenue from contracts with customers to depict the transfer of goods or services to customers at an amount that the entities expect to be entitled to in exchange for those goods or services. The primary sources of revenue include regulated electric and gas tariff sales, distribution, and transmission services.

See Note 4 — Revenue from Contracts with Customers of the 2021 Recast Form 10-K for additional information regarding the primary sources of revenue for the Registrants.

Contract Liabilities

The Registrants record contract liabilities when consideration is received or due prior to the satisfaction of the performance obligations. The Registrants record contract liabilities in Other current liabilities and Other noncurrent liabilities in their Consolidated Balance Sheets.

For PHI, Pepco, DPL, and ACE these contract liabilities primarily relate to upfront consideration received in the third quarter of 2020 for a collaborative arrangement with an unrelated owner and manager of communication infrastructure. The revenue attributable to this arrangement will be recognized as operating revenue over the 35 years under the collaborative arrangement.

The following table provides a rollforward of the contract liabilities reflected in Exelon's, PHI's, Pepco's, DPL's, and ACE's Consolidated Balance Sheets for the three and nine months ended September 30, 2022 and 2021. As of September 30, 2022 and December 31, 2021, ComEd's, PECO's, and BGE's contract liabilities were immaterial.

	Exelon(a)		PHI(a)		Pepco(a)		DPL(a)		ACE(a)
Balance as of December 31, 2021	$	109	$	109	$	87	$	11	$	11
Revenues recognized	(2)		(2)		(2)		—		—
Balance as of March 31, 2022	107		107		85		11		11
Revenues recognized	(2)		(2)		(1)		—		(1)
Balance as of June 30, 2022	105		105		84		11		10
Revenues recognized	(2)		(2)		(1)		(1)		—
Balance as of September 30, 2022	$	103	$	103	$	83	$	10	$	10
	Exelon(a)		PHI(a)		Pepco(a)		DPL(a)		ACE(a)
Balance as of December 31, 2020	$	118	$	118	$	94	$	12	$	12
Revenues recognized	(2)		(2)		(2)		—		—
Balance as of March 31, 2021	116		116		92		12		12
Revenues recognized	(3)		(3)		(1)		(1)		(1)
Balance as of June 30, 2021	113		113		91		11		11
Revenues recognized	(2)		(2)		(2)		—		—
Balance as of September 30, 2021	$	111	$	111	$	89	$	11	$	11

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(a)Revenues recognized in the three and nine months ended September 30, 2022 and 2021, were included in the contract liabilities at December 31, 2021 and 2020, respectively.

Transaction Price Allocated to Remaining Performance Obligations

The following table shows the amounts of future revenues expected to be recorded in each year for performance obligations that are unsatisfied or partially unsatisfied as of September 30, 2022. This disclosure only includes contracts for which the total consideration is fixed and determinable at contract inception. The average contract term varies by customer type and commodity but ranges from one month to several years.

This disclosure excludes the Utility Registrants' gas and electric tariff sales contracts and transmission revenue contracts as they generally have an original expected duration of one year or less and, therefore, do not contain any future, unsatisfied performance obligations to be included in this disclosure.

	2022		2023		2024		2025		2026 and thereafter		Total
Exelon	$	2	$	8	$	6	$	5	$	82	$	103
PHI	2		8		6		5		82		103
Pepco	2		6		5		5		65		83
DPL	—		1		—		—		9		10
ACE	—		1		1		—		8		10

Revenue Disaggregation

The Registrants disaggregate 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. See Note 5 — Segment Information for the presentation of the Registrant's revenue disaggregation.