XML 142 R68.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
PHI Merger Commitments The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligations for Exelon, PHI, Pepco, DPL, and ACE at March 31, 2024:
DescriptionExelon PHI Pepco DPLACE
Total commitments$513 $320 $120 $89 $111 
Remaining commitments(a)
35 31 28 2 1 
__________
(a)Remaining commitments extend through 2026 and include escrow funds, charitable contributions, and rate credits.
Commercial Commitments The Registrants’ commercial commitments at March 31, 2024, representing commitments potentially triggered by future events were as follows:
Expiration within
Total202420252026202720282029 and beyond
Exelon
Letters of credit(a)
$32 $24 $8 $— $— $— $— 
Surety bonds(b)
194 181 13 — — — — 
Financing trust guarantees(c)
378 — — — — 78 300 
Guaranteed lease residual values(d)
25 — 3 5 4 6 7 
Total commercial commitments $629 $205 $24 $5 $4 $84 $307 
ComEd
Letters of credit(a)
$17 $14 $3 $— $— $— $— 
Surety bonds(b)
36 34 2 — — — — 
Financing trust guarantees(c)
200 — — — — — 200 
Total commercial commitments $253 $48 $5 $— $— $— $200 
PECO
Letters of credit(a)
$3 $— $3 $— $— $— $— 
Surety bonds(b)
2 1 1 — — — — 
Financing trust guarantees(c)
178 — — — — 78 100 
Total commercial commitments $183 $1 $4 $— $— $78 $100 
BGE
Letters of credit(a)
$7 $7 $— $— $— $— $— 
Surety bonds(b)
3 2 1 — — — — 
Total commercial commitments $10 $9 $1 $— $— $— $— 
PHI
Surety bonds(b)
$96 $91 $5 $— $— $— $— 
Guaranteed lease residual values(d)
25 — 3 5 4 6 7 
Total commercial commitments $121 $91 $8 $5 $4 $6 $7 
Pepco
Surety bonds(a)
$85 $84 $1 $— $— $— $— 
Guaranteed lease residual values(d)
8 — 1 2 1 2 2 
Total commercial commitments $93 $84 $2 $2 $1 $2 $2 
DPL
Surety bonds(b)
$6 $3 $3 $— $— $— $— 
Guaranteed lease residual values(d)
10 — 1 2 2 2 3 
Total commercial commitments $16 $3 $4 $2 $2 $2 $3 
ACE
Surety bonds(b)
$5 $4 $1 $— $— $— $— 
Guaranteed lease residual values(d)
7 — 1 1 1 2 2 
Total commercial commitments $12 $4 $2 $1 $1 $2 $2 
__________
(a)Exelon and certain of its subsidiaries maintain non-debt letters of credit to provide credit support for certain transactions as requested by third parties.
(b)Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds. Historically, payments under the guarantees have not been made and the likelihood of payments being required is remote.
(c)Reflects guarantee of ComEd and PECO securities held by ComEd Financing III, PECO Trust III, and PECO Trust IV.
(d)Represents the maximum potential obligation in the event that the fair value of certain leased equipment and fleet vehicles is zero at the end of the maximum lease term. The lease term associated with these assets ranges from 1 to 9 years. The maximum potential obligation at the end of the minimum lease term would be $57 million guaranteed by Exelon and PHI, of which $19 million, $22 million, and $16 million is guaranteed by Pepco, DPL, and ACE, respectively. Historically, payments under the guarantees have not been made and PHI believes the likelihood of payments being required under the guarantees is remote.
Accrued environmental liabilities
At March 31, 2024 and December 31, 2023, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Accrued expenses, Other current liabilities, and Other deferred credits and other liabilities in their respective Consolidated Balance Sheets:
March 31, 2024December 31, 2023
Total Environmental
Investigation and
Remediation Liabilities		Portion of Total Related to
MGP Investigation and
Remediation		Total Environmental
Investigation and
Remediation Liabilities		Portion of Total Related to
MGP Investigation and
Remediation
Exelon$413 $328 $428 $338 
ComEd293 292 303 302 
PECO27 25 27 25 
BGE14 11 14 11 
PHI76 — 81 — 
Pepco74 — 79 — 
DPL1 — 1 — 
ACE1 — 1 —