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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 407 $ 672
Restricted cash and cash equivalents 566 321
Accounts receivable    
Customer accounts receivable 2,544 2,189
Customer allowance for credit losses (327) (320)
Customer accounts receivable, net 2,217 1,869
Other accounts receivable 1,426 1,068
Other allowance for credit losses (82) (72)
Other accounts receivable, net 1,344 996
Inventories, net    
Fossil fuel and emission allowances 208 105
Materials and supplies 547 476
Regulatory assets, current 1,641 1,296
Other 406 387
Currents assets of discontinued operations 0 7,835
Total current assets 7,336 13,957
Accumulated depreciation and amortization 15,930 14,430
Property, plant and equipment, net 69,076 64,558
Deferred debits and other assets    
Regulatory assets, noncurrent 8,037 8,224
Goodwill 6,630 6,630
Receivable related to Regulatory Agreement Units 2,897 0
Investments 232 250
Other 1,141 885
Property, plant, and equipment, deferred debits, and other assets of discontinued operations 0 38,509
Total deferred debits and other assets 18,937 54,498
Total assets 95,349 133,013
Current liabilities    
Short-term borrowings 2,586 1,248
Long-term debt due within one year 1,802 2,153
Accounts payable 3,382 2,379
Accrued expenses 1,226 1,137
Payables to affiliates, current 5 5
Regulatory liabilities, current 437 376
Mark-to-market derivative liabilities, current 8 18
Unamortized energy contract liabilities, current 10 89
Other 1,155 766
Current liabilities of discontinued operations 0 7,940
Total current liabilities 10,611 16,111
Long-term debt 35,272 30,749
Long-term debt to financing trusts 390 390
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 11,250 10,611
Regulatory liabilities, noncurrent 9,112 9,628
Asset retirement obligations, noncurrent 269 271
Pension obligations 1,109 2,051
Non-pension postretirement benefits obligations 507 811
Mark-to-market derivative liabilities, noncurrent 83 201
Unamortized energy contract liabilities, noncurrent 35 146
Other 1,967 1,573
Long-term debt, deferred credits, and other liabilities of discontinued operations 0 25,676
Total deferred credits and other liabilities 24,332 50,968
Total liabilities 70,605 98,218
Commitments and contingencies
Shareholders’ equity    
Common Stock, No Par Value $ 0 $ 0
Common Stock, Shares Authorized 2,000,000,000 2,000,000,000
Common Stock, Shares, Outstanding 994,000,000 979,000,000
Common stock $ 20,908 $ 20,324
Treasury Stock, Shares 2,000,000 2,000,000
Treasury stock, at cost $ (123) $ (123)
Retained earnings/Undistributed earnings (losses) 4,597 16,942
Accumulated other comprehensive loss, net (638) (2,750)
Total shareholders’ equity 24,744 34,393
Member’s equity    
Noncontrolling interests 0 402
Total equity 24,744 34,795
Total liabilities and equity 95,349 133,013
Commonwealth Edison Co [Member]    
Current assets    
Cash and cash equivalents 67 131
Restricted cash and cash equivalents 327 210
Accounts receivable    
Customer accounts receivable 558 647
Customer allowance for credit losses (59) (73)
Customer accounts receivable, net 499 574
Other accounts receivable 441 227
Other allowance for credit losses (17) (17)
Other accounts receivable, net 424 210
Receivables from affiliates, current 3 16
Inventories, net    
Inventories, net 196 170
Regulatory assets, current 775 335
Other 92 76
Total current assets 2,383 1,722
Accumulated depreciation and amortization 6,673 6,099
Property, plant and equipment, net 27,513 25,995
Deferred debits and other assets    
Regulatory assets, noncurrent 2,667 1,870
Goodwill 2,625 2,625
Receivable from affiliates, noncurrent 0 2,761
Receivable related to Regulatory Agreement Units 2,660 0
Investments 6 6
Prepaid pension asset 1,206 1,086
Other 601 405
Total deferred debits and other assets 9,765 8,753
Total assets 39,661 36,470
Current liabilities    
Short-term borrowings 577 0
Accounts payable 1,010 647
Accrued expenses 415 384
Payables to affiliates, current 74 121
Customer deposits 108 99
Regulatory liabilities, current 226 185
Mark-to-market derivative liabilities, current 5 18
Other 191 133
Total current liabilities 2,606 1,587
Long-term debt 10,518 9,773
Long-term debt to financing trusts 205 205
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 5,021 4,685
Regulatory liabilities, noncurrent 6,913 6,759
Asset retirement obligations, noncurrent 148 144
Non-pension postretirement benefits obligations 165 169
Mark-to-market derivative liabilities, noncurrent 79 201
Other 642 592
Total deferred credits and other liabilities 12,968 12,550
Total liabilities 26,297 24,115
Commitments and contingencies
Shareholders’ equity    
Common Stock, Par or Stated Value Per Share $ 12.50 $ 12.50
Common Stock, Shares Authorized 250,000,000 250,000,000
Common Stock, Shares, Outstanding 127,000,000 127,000,000
Common stock $ 1,588 $ 1,588
Retained earnings/Undistributed earnings (losses) 2,030 1,691
Other paid-in capital 9,746 9,076
Total shareholders’ equity 13,364 12,355
Member’s equity    
Total liabilities and equity 39,661 36,470
PECO Energy Co [Member]    
Current assets    
Cash and cash equivalents 59 36
Restricted cash and cash equivalents 9 8
Accounts receivable    
Customer accounts receivable 635 489
Customer allowance for credit losses (105) (105)
Customer accounts receivable, net 530 384
Other accounts receivable 153 116
Other allowance for credit losses (9) (7)
Other accounts receivable, net 144 109
Receivables from affiliates, current 4 1
Inventories, net    
Fossil fuel and emission allowances 99 51
Materials and supplies 52 45
Regulatory assets, current 80 48
Other 38 29
Total current assets 1,015 711
Accumulated depreciation and amortization 4,078 3,964
Property, plant and equipment, net 12,125 11,117
Deferred debits and other assets    
Regulatory assets, noncurrent 652 943
Receivable from affiliates, noncurrent 0 597
Receivable related to Regulatory Agreement Units 237 0
Investments 30 34
Prepaid pension asset 413 386
Other 30 36
Total deferred debits and other assets 1,362 1,996
Total assets 14,502 13,824
Current liabilities    
Short-term borrowings 239 0
Long-term debt due within one year 50 350
Accounts payable 668 494
Accrued expenses 142 136
Payables to affiliates, current 42 70
Customer deposits 63 48
Regulatory liabilities, current 75 94
Other 32 35
Total current liabilities 1,311 1,227
Long-term debt 4,562 3,847
Long-term debt to financing trusts 184 184
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 2,213 2,421
Regulatory liabilities, noncurrent 270 635
Asset retirement obligations, noncurrent 28 29
Non-pension postretirement benefits obligations 286 286
Other 85 83
Total deferred credits and other liabilities 2,882 3,454
Total liabilities 8,939 8,712
Commitments and contingencies
Shareholders’ equity    
Common Stock, No Par Value $ 0 $ 0
Common Stock, Shares Authorized 500,000,000 500,000,000
Common Stock, Shares, Outstanding 170,000,000 170,000,000
Common stock $ 3,702 $ 3,428
Retained earnings/Undistributed earnings (losses) 1,861 1,684
Total shareholders’ equity 5,563 5,112
Member’s equity    
Total liabilities and equity 14,502 13,824
Baltimore Gas and Electric Company [Member]    
Current assets    
Cash and cash equivalents 43 51
Restricted cash and cash equivalents 24 4
Accounts receivable    
Customer accounts receivable 617 436
Customer allowance for credit losses (54) (38)
Customer accounts receivable, net 563 398
Other accounts receivable 132 124
Other allowance for credit losses (10) (9)
Other accounts receivable, net 122 115
Receivables from affiliates, current 0 1
Inventories, net    
Fossil fuel and emission allowances 91 42
Materials and supplies 65 53
Prepaid utility taxes 52 49
Regulatory assets, current 177 215
Other 13 8
Total current assets 1,150 936
Accumulated depreciation and amortization 4,583 4,299
Property, plant and equipment, net 11,338 10,577
Deferred debits and other assets    
Regulatory assets, noncurrent 527 477
Investments 7 14
Prepaid pension asset 291 276
Other 37 44
Total deferred debits and other assets 862 811
Total assets 13,350 12,324
Current liabilities    
Short-term borrowings 408 130
Long-term debt due within one year 300 250
Accounts payable 462 349
Accrued expenses 159 176
Payables to affiliates, current 39 48
Customer deposits 105 97
Regulatory liabilities, current 47 26
Other 55 48
Total current liabilities 1,575 1,124
Long-term debt 3,907 3,711
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,832 1,686
Regulatory liabilities, noncurrent 816 934
Asset retirement obligations, noncurrent 30 26
Non-pension postretirement benefits obligations 166 175
Other 88 98
Total deferred credits and other liabilities 2,932 2,919
Total liabilities 8,414 7,754
Commitments and contingencies
Shareholders’ equity    
Common Stock, No Par Value $ 0 $ 0
Common Stock, Shares Authorized 1,500 1,500
Common Stock, Shares, Outstanding 1,000 1,000
Common stock [1] $ 2,861 $ 2,575
Retained earnings/Undistributed earnings (losses) 2,075 1,995
Total shareholders’ equity 4,936 4,570
Member’s equity    
Total liabilities and equity 13,350 12,324
Pepco Holdings LLC [Member]    
Current assets    
Cash and cash equivalents 198 136
Restricted cash and cash equivalents 175 77
Accounts receivable    
Customer accounts receivable 734 616
Customer allowance for credit losses (109) (104)
Customer accounts receivable, net 625 512
Other accounts receivable 300 283
Other allowance for credit losses (46) (39)
Other accounts receivable, net 254 244
Receivables from affiliates, current 2 2
Inventories, net    
Fossil fuel and emission allowances 18 11
Materials and supplies 236 209
Regulatory assets, current 455 432
Other 96 69
Total current assets 2,059 1,692
Accumulated depreciation and amortization 2,618 2,108
Property, plant and equipment, net 17,686 16,498
Deferred debits and other assets    
Regulatory assets, noncurrent 1,610 1,794
Goodwill 4,005 4,005
Investments 138 145
Prepaid pension asset 353 344
Other 231 266
Total deferred debits and other assets 6,337 6,554
Total assets 26,082 24,744
Current liabilities    
Short-term borrowings 414 468
Long-term debt due within one year 591 399
Accounts payable 771 578
Accrued expenses 260 281
Payables to affiliates, current 66 104
Borrowings from Exelon/PHI intercompany money pool 44 7
Customer deposits 88 81
Regulatory liabilities, current 76 68
Unamortized energy contract liabilities, current 10 89
Contractual Obligation 87 0
Other 330 171
Total current liabilities 2,737 2,246
Long-term debt 7,529 7,148
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 2,895 2,675
Regulatory liabilities, noncurrent 1,011 1,238
Asset retirement obligations, noncurrent 59 70
Non-pension postretirement benefits obligations 50 66
Unamortized energy contract liabilities, noncurrent 35 146
Other 536 570
Total deferred credits and other liabilities 4,586 4,765
Total liabilities 14,852 14,159
Commitments and contingencies
Shareholders’ equity    
Retained earnings/Undistributed earnings (losses) (352) (210)
Member’s equity    
Membership interest 11,582 10,795
Total member’s equity 11,230 10,585
Total equity 11,230 10,585
Total liabilities and equity 26,082 24,744
Potomac Electric Power Company [Member]    
Current assets    
Cash and cash equivalents 45 34
Restricted cash and cash equivalents 54 34
Accounts receivable    
Customer accounts receivable 351 277
Customer allowance for credit losses (47) (37)
Customer accounts receivable, net 304 240
Other accounts receivable 180 160
Other allowance for credit losses (25) (16)
Other accounts receivable, net 155 144
Receivables from affiliates, current 0 0
Inventories, net    
Inventories, net 135 119
Regulatory assets, current 235 213
Other 53 25
Total current assets 981 809
Accumulated depreciation and amortization 4,067 3,875
Property, plant and equipment, net 8,794 8,104
Deferred debits and other assets    
Regulatory assets, noncurrent 437 532
Investments 119 120
Prepaid pension asset 273 279
Other 53 59
Total deferred debits and other assets 882 990
Total assets 10,657 9,903
Current liabilities    
Short-term borrowings 299 175
Long-term debt due within one year 4 313
Accounts payable 382 272
Accrued expenses 125 160
Payables to affiliates, current 34 59
Customer deposits 39 35
Regulatory liabilities, current 6 14
Merger related obligation 26 27
Other 93 55
Total current liabilities 1,008 1,110
Long-term debt 3,747 3,132
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 1,382 1,275
Regulatory liabilities, noncurrent 455 549
Asset retirement obligations, noncurrent 39 45
Non-pension postretirement benefits obligations 0 3
Other 244 314
Total deferred credits and other liabilities 2,120 2,186
Total liabilities 6,875 6,428
Commitments and contingencies
Shareholders’ equity    
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common Stock, Shares Authorized 200,000,000 200,000,000
Common Stock, Shares, Outstanding 100 100
Common stock [2] $ 2,767 $ 2,302
Retained earnings/Undistributed earnings (losses) 1,015 1,173
Total shareholders’ equity 3,782 3,475
Member’s equity    
Total liabilities and equity 10,657 9,903
Delmarva Power & Light Company [Member]    
Current assets    
Cash and cash equivalents 31 28
Restricted cash and cash equivalents 121 43
Accounts receivable    
Customer accounts receivable 204 149
Customer allowance for credit losses (21) (18)
Customer accounts receivable, net 183 131
Other accounts receivable 52 58
Other allowance for credit losses (7) (8)
Other accounts receivable, net 45 50
Receivables from affiliates, current 0 1
Inventories, net    
Fossil fuel and emission allowances 18 11
Materials and supplies 58 54
Prepaid utility taxes 23 20
Regulatory assets, current 80 68
Other 14 16
Total current assets 573 422
Accumulated depreciation and amortization 1,772 1,635
Property, plant and equipment, net 4,820 4,560
Deferred debits and other assets    
Regulatory assets, noncurrent 202 212
Prepaid pension asset 153 157
Other 54 61
Total deferred debits and other assets 409 430
Total assets 5,802 5,412
Current liabilities    
Short-term borrowings 115 149
Long-term debt due within one year 584 83
Accounts payable 172 131
Accrued expenses 41 40
Payables to affiliates, current 22 33
Customer deposits 29 28
Regulatory liabilities, current 44 25
Other 136 59
Total current liabilities 1,143 548
Long-term debt 1,354 1,727
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 869 803
Regulatory liabilities, noncurrent 380 441
Asset retirement obligations, noncurrent 13 16
Non-pension postretirement benefits obligations 9 11
Other 84 89
Total deferred credits and other liabilities 1,355 1,360
Total liabilities 3,852 3,635
Commitments and contingencies
Shareholders’ equity    
Common Stock, Par or Stated Value Per Share $ 2.25 $ 2.25
Common Stock, Shares Authorized 1,000 1,000
Common Stock, Shares, Outstanding 1,000 1,000
Common stock [3] $ 1,356 $ 1,209
Retained earnings/Undistributed earnings (losses) 594 568
Total shareholders’ equity 1,950 1,777
Member’s equity    
Total liabilities and equity 5,802 5,412
Atlantic City Electric Company [Member]    
Current assets    
Cash and cash equivalents 72 29
Restricted cash and cash equivalents 0 0
Accounts receivable    
Customer accounts receivable 179 190
Customer allowance for credit losses (41) (49)
Customer accounts receivable, net 138 141
Other accounts receivable 70 76
Other allowance for credit losses (14) (15)
Other accounts receivable, net 56 61
Receivables from affiliates, current 1 2
Inventories, net    
Inventories, net 43 36
Regulatory assets, current 130 61
Other 3 3
Total current assets 443 333
Accumulated depreciation and amortization 1,551 1,420
Property, plant and equipment, net 3,990 3,729
Deferred debits and other assets    
Regulatory assets, noncurrent 494 430
Prepaid pension asset 18 27
Other 34 37
Total deferred debits and other assets 546 494
Total assets 4,979 4,556
Current liabilities    
Short-term borrowings 0 144
Long-term debt due within one year 3 3
Accounts payable 206 165
Accrued expenses 47 44
Payables to affiliates, current 26 31
Customer deposits 21 18
Regulatory liabilities, current 26 28
Contractual Obligation 87 0
Other 58 12
Total current liabilities 474 445
Long-term debt 1,754 1,579
Deferred credits and other liabilities    
Deferred income taxes and unamortized investment tax credits 734 682
Regulatory liabilities, noncurrent 156 214
Non-pension postretirement benefits obligations 8 12
Other 100 49
Total deferred credits and other liabilities 998 957
Total liabilities 3,226 2,981
Commitments and contingencies
Shareholders’ equity    
Common Stock, Par or Stated Value Per Share $ 3.00 $ 3.00
Common Stock, Shares Authorized 25,000,000 25,000,000
Common Stock, Shares, Outstanding 9,000,000 9,000,000
Common stock $ 1,765 $ 1,590
Retained earnings/Undistributed earnings (losses) (12) (15)
Total shareholders’ equity 1,753 1,575
Member’s equity    
Total liabilities and equity $ 4,979 $ 4,556
[1] In millions, shares round to zero. Number of shares is 1,500 authorized and 1,000 outstanding as of December 31, 2022 and 2021.
[2] In millions, shares round to zero. Number of shares is 100 outstanding as of December 31, 2022 and 2021.
[3] In millions, shares round to zero. Number of shares is 1,000 authorized and 1,000 outstanding as of December 31, 2022 and 2021.