XML 41 R3.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income (loss) $ 1,012 $ 1,063
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 1,727 1,854
Gain on sales of assets and businesses 0 (8)
Deferred income taxes and amortization of investment tax credits 94 143
Net fair value changes related to derivatives 4 (59)
Net realized and unrealized (gains) losses on NDT funds 0 205
Net unrealized (gains) losses on equity investments 0 16
Other non-cash operating activities (222) 276
Changes in assets and liabilities:    
Accounts receivable 387 (795)
Inventories 44 12
Accounts payable and accrued expenses (734) 544
Option premiums paid, net 0 (39)
Collateral received (posted), net (187) 1,689
Income taxes 97 23
Regulatory assets and liabilities, net (516) (376)
Pension and non-pension postretirement benefit contributions (85) (585)
Other assets and liabilities 140 (723)
Net Cash Provided by (Used in) Operating Activities, Total 1,761 3,240
Cash flows from investing activities    
Capital expenditures (3,685) (3,507)
Proceeds from NDT fund sales 0 488
Investment in NDT funds 0 (516)
Collection of deferred purchase price 0 169
Proceeds from Sale of Property Held-for-sale 0 16
Other investing activities 10 4
Net Cash Provided by (Used in) Investing Activities, Total (3,675) (3,346)
Cash flows from financing activities    
Changes in short-term borrowings (1,600) (597)
Proceeds from short-term borrowings with maturities greater than 90 days 400 1,150
Repayments on short-term borrowings with maturities greater than 90 days (150) (350)
Issuance of long-term debt 5,200 5,151
Retirement of long-term debt (1,209) (1,707)
Dividends paid on common stock (717) (663)
Proceeds from employee stock plans 19 17
Transfer of cash, restricted cash, and cash equivalents to Constellation 0 (2,594)
Other financing activities (84) (84)
Net cash flows provided by financing activities 1,859 323
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total (55) 217
Cash, restricted cash, and cash equivalents at beginning of period 1,090 1,619
Cash, restricted cash, and cash equivalents at end of period 1,035 1,836
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (164) (276)
Increase in deferred purchase price 0 348
Increase in PPE related to ARO update 0 (335)
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 0 207
Gain on sales of assets and businesses 0 9
Deferred income taxes and amortization of investment tax credits 0 (143)
Net fair value changes related to derivatives 0 (59)
Net realized and unrealized (gains) losses on NDT funds 0 205
Net unrealized (gains) losses on equity investments 0 16
Other non-cash operating activities 0 (36)
Cash flows from investing activities    
Capital expenditures 0 (227)
Collection of deferred purchase price 0 169
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid 0 (128)
Increase in deferred purchase price 0 348
Increase in PPE related to ARO update 0 335
Commonwealth Edison Co [Member]    
Cash flows from operating activities    
Net income (loss) 489 415
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 688 649
Deferred income taxes and amortization of investment tax credits 106 122
Other non-cash operating activities (260) (18)
Changes in assets and liabilities:    
Accounts receivable (30) (163)
Receivables from payables to affiliates, net (3) (43)
Inventories (43) (2)
Accounts payable and accrued expenses (311) 123
Collateral received (posted), net 25 60
Income taxes 16 (19)
Regulatory assets and liabilities, net (459) (267)
Pension and non-pension postretirement benefit contributions (24) (178)
Other assets and liabilities 110 (91)
Net Cash Provided by (Used in) Operating Activities, Total 304 588
Cash flows from investing activities    
Capital expenditures (1,262) (1,208)
Other investing activities 3 15
Net Cash Provided by (Used in) Investing Activities, Total (1,259) (1,193)
Cash flows from financing activities    
Changes in short-term borrowings (130) 0
Proceeds from short-term borrowings with maturities greater than 90 days 400 0
Repayments on short-term borrowings with maturities greater than 90 days (150) 0
Issuance of long-term debt 975 750
Dividends paid on common stock (374) (289)
Contributions from parent 372 335
Other financing activities (13) (12)
Net cash flows provided by financing activities 1,080 784
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 125 179
Cash, restricted cash, and cash equivalents at beginning of period 511 384
Cash, restricted cash, and cash equivalents at end of period 636 563
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (7) (44)
PECO Energy Co [Member]    
Cash flows from operating activities    
Net income (loss) 263 339
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 197 185
Deferred income taxes and amortization of investment tax credits (26) 14
Other non-cash operating activities 12 4
Changes in assets and liabilities:    
Accounts receivable 182 (29)
Receivables from payables to affiliates, net (3) (40)
Inventories 52 (8)
Accounts payable and accrued expenses (167) 5
Income taxes 56 49
Regulatory assets and liabilities, net 14 (24)
Pension and non-pension postretirement benefit contributions (1) (13)
Other assets and liabilities (34) (70)
Net Cash Provided by (Used in) Operating Activities, Total 545 412
Cash flows from investing activities    
Capital expenditures (707) (658)
Changes in Exelon/PHI intercompany money pool (225) 0
Other investing activities 0 5
Net Cash Provided by (Used in) Investing Activities, Total (932) (653)
Cash flows from financing activities    
Changes in short-term borrowings (239) 210
Issuance of long-term debt 575 350
Retirement of long-term debt (50) (350)
Dividends paid on common stock (202) (200)
Contributions from parent 330 227
Other financing activities (4) (8)
Net cash flows provided by financing activities 410 229
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 23 (12)
Cash, restricted cash, and cash equivalents at beginning of period 68 44
Cash, restricted cash, and cash equivalents at end of period 91 32
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid 3 (11)
Baltimore Gas and Electric Company [Member]    
Cash flows from operating activities    
Net income (loss) 241 234
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 325 322
Deferred income taxes and amortization of investment tax credits 38 13
Other non-cash operating activities (36) 79
Changes in assets and liabilities:    
Accounts receivable 185 (14)
Receivables from payables to affiliates, net (8) (11)
Inventories 51 (27)
Accounts payable and accrued expenses (114) (12)
Collateral received (posted), net (22) 190
Income taxes 8 (27)
Regulatory assets and liabilities, net (83) (36)
Pension and non-pension postretirement benefit contributions (11) (59)
Other assets and liabilities 37 24
Net Cash Provided by (Used in) Operating Activities, Total 611 676
Cash flows from investing activities    
Capital expenditures (656) (578)
Other investing activities 4 7
Net Cash Provided by (Used in) Investing Activities, Total (652) (571)
Cash flows from financing activities    
Changes in short-term borrowings (408) (130)
Issuance of long-term debt 700 500
Retirement of long-term debt (300) 0
Dividends paid on common stock (158) (150)
Contributions from parent 237 186
Other financing activities (7) (7)
Net cash flows provided by financing activities 64 399
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total 23 504
Cash, restricted cash, and cash equivalents at beginning of period 67 55
Cash, restricted cash, and cash equivalents at end of period 90 559
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (60) (21)
Pepco Holdings LLC [Member]    
Cash flows from operating activities    
Net income (loss) 258 230
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 484 459
Deferred income taxes and amortization of investment tax credits 26 (7)
Other non-cash operating activities 20 76
Changes in assets and liabilities:    
Accounts receivable 55 (92)
Receivables from payables to affiliates, net (8) (53)
Inventories (14) (7)
Accounts payable and accrued expenses (25) 10
Collateral received (posted), net (191) 403
Income taxes 6 (2)
Regulatory assets and liabilities, net 8 (71)
Pension and non-pension postretirement benefit contributions (11) (70)
Other assets and liabilities (80) (86)
Net Cash Provided by (Used in) Operating Activities, Total 528 790
Cash flows from investing activities    
Capital expenditures (1,022) (776)
Other investing activities 8 3
Net Cash Provided by (Used in) Investing Activities, Total (1,014) (773)
Cash flows from financing activities    
Changes in short-term borrowings (377) (425)
Issuance of long-term debt 450 700
Retirement of long-term debt 0 (200)
Increase (Decrease) in Due to Affiliates, Current 8 17
Payments of Distributions to Affiliates (212) (395)
Proceeds from Contributions from Affiliates 405 704
Other financing activities (25) (12)
Net cash flows provided by financing activities 249 389
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total (237) 406
Cash, restricted cash, and cash equivalents at beginning of period 373 213
Cash, restricted cash, and cash equivalents at end of period 136 619
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (91) (48)
Potomac Electric Power Company [Member]    
Cash flows from operating activities    
Net income (loss) 130 116
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 216 213
Deferred income taxes and amortization of investment tax credits 12 (7)
Other non-cash operating activities 3 17
Changes in assets and liabilities:    
Accounts receivable 12 (62)
Receivables from payables to affiliates, net (2) (39)
Inventories (10) (6)
Accounts payable and accrued expenses (21) 6
Collateral received (posted), net (26) 85
Income taxes (1) (24)
Regulatory assets and liabilities, net (6) (36)
Pension and non-pension postretirement benefit contributions (8) (7)
Other assets and liabilities 7 (15)
Net Cash Provided by (Used in) Operating Activities, Total 306 241
Cash flows from investing activities    
Capital expenditures (483) (402)
Other investing activities 8 2
Net Cash Provided by (Used in) Investing Activities, Total (475) (400)
Cash flows from financing activities    
Changes in short-term borrowings (299) (132)
Issuance of long-term debt 250 400
Retirement of long-term debt 0 (200)
Increase (Decrease) in Due to Affiliates, Current 52 73
Dividends paid on common stock (115) (300)
Contributions from parent 243 387
Other financing activities (19) (6)
Net cash flows provided by financing activities 112 222
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total (57) 63
Cash, restricted cash, and cash equivalents at beginning of period 99 68
Cash, restricted cash, and cash equivalents at end of period 42 131
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (43) (24)
Delmarva Power and Light Company [Member]    
Cash flows from operating activities    
Net income (loss) 85 77
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 121 113
Deferred income taxes and amortization of investment tax credits 3 3
Other non-cash operating activities 2 13
Changes in assets and liabilities:    
Accounts receivable 48 (8)
Receivables from payables to affiliates, net 1 (3)
Inventories 5 1
Accounts payable and accrued expenses (9) 12
Collateral received (posted), net (121) 180
Income taxes 11 6
Regulatory assets and liabilities, net 25 (11)
Pension and non-pension postretirement benefit contributions 0 (1)
Other assets and liabilities 10 1
Net Cash Provided by (Used in) Operating Activities, Total 181 383
Cash flows from investing activities    
Capital expenditures (258) (194)
Changes in Exelon/PHI intercompany money pool (102) (73)
Other investing activities 0 2
Net Cash Provided by (Used in) Investing Activities, Total (360) (265)
Cash flows from financing activities    
Changes in short-term borrowings (115) (149)
Issuance of long-term debt 125 125
Dividends paid on common stock (60) (56)
Contributions from parent 99 144
Other financing activities (4) (4)
Net cash flows provided by financing activities 45 60
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total (134) 178
Cash, restricted cash, and cash equivalents at beginning of period 152 71
Cash, restricted cash, and cash equivalents at end of period 18 249
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid (3) (5)
Atlantic City Electric Company [Member]    
Cash flows from operating activities    
Net income (loss) 51 37
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization 135 118
Deferred income taxes and amortization of investment tax credits 12 0
Other non-cash operating activities (3) 25
Changes in assets and liabilities:    
Accounts receivable (5) (20)
Receivables from payables to affiliates, net (5) (10)
Inventories (9) (2)
Accounts payable and accrued expenses 15 9
Collateral received (posted), net (45) 137
Income taxes (4) 8
Regulatory assets and liabilities, net (12) (11)
Pension and non-pension postretirement benefit contributions 0 (7)
Other assets and liabilities (89) (63)
Net Cash Provided by (Used in) Operating Activities, Total 41 221
Cash flows from investing activities    
Capital expenditures (275) (179)
Net Cash Provided by (Used in) Investing Activities, Total (275) (179)
Cash flows from financing activities    
Changes in short-term borrowings 37 (144)
Issuance of long-term debt 75 175
Increase (Decrease) in Due to Affiliates, Current 50 0
Dividends paid on common stock (36) (38)
Contributions from parent 63 173
Other financing activities (3) (4)
Net cash flows provided by financing activities 186 162
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total (48) 204
Cash, restricted cash, and cash equivalents at beginning of period 72 29
Cash, restricted cash, and cash equivalents at end of period 24 233
Supplemental Cash Flow Information    
Decrease in capital expenditures not paid $ (44) $ (19)