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Supplemental Financial Information (Exelon, Generation, ComEd and PECO)
 3 Months Ended
Mar. 31, 2012
Supplemental Financial Information [Abstract]  
Supplemental Financial Information (Exelon, Generation, ComEd and PECO)

16. Supplemental Financial Information (Exelon, Generation, ComEd, PECO and BGE)

 

Supplemental Statement of Operations Information

 

The following tables provide additional information about the Registrants' Consolidated Statements of Operations for the three months ended March 31, 2012 and 2011:

 

                 
Three Months Ended March 31, 2012Exelon Generation ComEd PECO BGE
Other, Net              
Decommissioning-related activities:              
 Net realized income on decommissioning trust funds (a)              
  Regulatory Agreement Units$60 $60 $0 $0 $0
  Non-Regulatory Agreement Units 48  48  0  0  0
 Net unrealized income on decommissioning trust funds              
  Regulatory Agreement Units  247  247  0  0  0
  Non-Regulatory Agreement Units 65  65  0  0  0
 Net unrealized income on pledged assets              
  Zion Station decommissioning 35  35  0  0  0
 Regulatory offset to decommissioning trust fund-related              
  activities(b) (277)  (277)  0  0  0
Total decommissioning-related activities 178  178  0  0  0
Investment income 4  0  1  1  3
Long-term lease income  7  0  0  0  0
AFUDC - Equity 3  0  1  1  3
Other  2  0  2  0  0
                 
Other, net $194 $178 $4 $2 $6
               

Three Months Ended March 31, 2011Exelon Generation ComEd PECO BGE
Other, Net              
Decommissioning-related activities:              
 Net realized income on decommissioning trust funds (a)               
  Regulatory Agreement Units$43 $43 $0 $0 $0
  Non-Regulatory Agreement Units 10  10  0  0  0
 Net unrealized income on decommissioning trust funds               
  Regulatory Agreement Units 111  111  0  0  0
  Non-Regulatory Agreement Units 43  43  0  0  0
 Net unrealized gains on pledged assets               
  Zion Station decommissioning 23  23  0  0  0
 Regulatory offset to decommissioning trust fund-related              
  activities (b) (151)  (151)  0  0  0
Total decommissioning-related activities 79  79  0  0  0
Investment income 1  0  0  1  4
Long-term lease income 7  0  0  0  0
Interest income related to uncertain income tax provisions 3  0  1  0   
AFUDC - Equity 5  0  1  4  4
Other  (1)  (4)  2  1   
                 
Other, net $94 $75 $4 $6 $8

__________

(a)       Includes investment income and realized gains and losses on sales of investments of the trust funds.

(b)       Includes the elimination of NDT fund-related activity for the Regulatory Agreement Units, including the elimination of net realized income taxes related to all NDT fund activity for those units. See Note 12 of the Exelon 2011 Form 10-K for additional information regarding the accounting for nuclear decommissioning.

 

Supplemental Cash Flow Information

 

The following tables provide additional information regarding the Registrants' Consolidated Statements of Cash Flows for the three months ended March 31, 2012 and 2011:

Three Months Ended March 31, 2012Exelon Generation ComEd PECO BGE
Depreciation, amortization, accretion and depletion              
Property, plant and equipment$354 $150 $131 $51 $61
Regulatory assets 25  0  18  2   18
Amortization of intangible assets 3  3  0  0  0
Amortization of energy contract assets and liabilities (a) 131  131  0  0  0
Nuclear fuel(a) 207  207  0  0  0
Asset retirement obligation accretion(b) 56  56  0  0  0
                
Total depreciation, amortization and accretion$776 $547 $149 $53 $79
                
Three Months Ended March 31, 2011Exelon Generation ComEd PECO BGE
Depreciation, amortization and accretion              
Property, plant and equipment$313 $139 $122 $46 $57
Regulatory assets 14  0  12  2  20
Nuclear fuel(a) 174  174  0  0  0
Asset retirement obligation accretion(b) 51  51  0  0  0
                
Total depreciation, amortization and accretion$552 $364 $134 $48 $77

__________

(a)       Included in purchased power and fuel expense on the Registrants' Consolidated Statements of Operations and Comprehensive Income.

(b)       Included in operating and maintenance expense on the Registrants' Consolidated Statements of Operations and Comprehensive Income.

 

Three Months Ended March 31, 2012Exelon Generation ComEd PECO BGE
Other non-cash operating activities:              
Pension and non-pension postretirement benefit costs$181 $81 $69 $13 $16
Provision for uncollectible accounts 40  (9)  22  24  8
Stock-based compensation costs 39  0  0  0  0
Other decommissioning-related activity (a) (71)  (71)  0  0  0
Energy-related options (b) 28  28  0  0  0
Amortization of regulatory asset related to debt costs 6  0  4  1  1
Amortization of rate stabilization deferral 3  0  0  0  13
Discrete impacts from EIMA (c) (38)  0  (38)  0  0
Merger-related commitments (d) 331  35  0  0  141
Equity in loss of unconsolidated subsidiaries 22  22  0  0  0
Other (11)  4  3  2  (1)
               
Total other non-cash operating activities$530 $90 $60 $40 $178
                
Changes in other assets and liabilities:              
Under/over-recovered energy and transmission costs (25)  0  (38)  13  (10)
Other regulatory assets and liabilities (97)  0  (16)  3  (16)
Other current assets (18)  (122)  1  (134)(e)31
Other noncurrent assets and liabilities 18  42  (19)  8  7
                
Total changes in other assets and liabilities$(122) $(80) $(72) $(110) $12
                
Non-cash investing and financing activities:              
Merger with Constellation, common stock issued$7,365 $5,272 $0 $0 $0

Three Months Ended March 31, 2011Exelon Generation ComEd PECO BGE
Other non-cash operating activities:              
Pension and non-pension postretirement benefit costs$136 $62 $54 $8 $11
Provision for uncollectible accounts 45  0  19  26  9
Stock-based compensation costs 28  0  0  0  0
Other decommissioning-related activity (a) (32)  (32)  0  0  0
Energy-related options (b) 34  34  0  0  0
Amortization of regulatory asset related to debt costs 6  0  5  1  1
Uncollectible accounts recovery, net  4  0  4  0  0
Amortization of rate stabilization deferral 0  0  0  0  14
Deferral of storm costs 0  0  0  0  (16)
Other 2  8  0  0  (3)
               
Total other non-cash operating activities$223 $72 $82 $35 $16
               
Changes in other assets and liabilities:              
Under/over-recovered energy and transmission costs (60)  0  (29)  (31)  3
Other regulatory assets and liabilities 3  0  5  (2)  (3)
Other current assets  (169)  (20)  (8)  (136)(e) 31
Other noncurrent assets and liabilities 8  0  (3)  7  (5)
               
Total changes in other assets and liabilities$(218) $(20) $(35) $(162) $26

_________

(a)       Includes the elimination of NDT fund-related activity for the Regulatory Agreement Units, including the elimination of operating revenues, ARO accretion, ARC amortization, investment income and income taxes related to all NDT fund activity for these units. See Note 12 of the Exelon 2011 Form 10-K for additional information regarding the accounting for nuclear decommissioning.

(b)       Includes option premiums reclassified to realized at the settlement of the underlying contracts and recorded to results of operations.

(c)              Includes the establishment of a regulatory asset, pursuant to EIMA, for the 2012 annual reconciliation in ComEd's distribution formula rate tariff. This amount was partially offset by a reduction recorded in 2012 to the regulatory asset for the 2011 annual reconciliation previously established. See Note 4 – Regulatory Matters for more information.

(d) See Note 3 – Mergers and Acquisitions for more information on merger-related commitments.

(e)       Relates primarily to prepaid utility taxes.

 

DOE Smart Grid Investment Grant (Exelon, PECO and BGE). For the three months ended March 31, 2012, Exelon, PECO and BGE have included in the capital expenditures line item under investing activities of the cash flow statement capital expenditures of $30 million, $20 million and $10 million, respectively, and reimbursements of $35 million, $21 million and $14 million, respectively, related to PECO's and BGE's DOE SGIG programs. For the three months ended March 31, 2011, Exelon, PECO and BGE have included in the capital expenditures line item under investing activities of the cash flow statement capital expenditures of $15 million, $9 million and $6 million, respectively, and reimbursements of $18 million, $5 million and $13 million, respectively, related to PECO's and BGE's DOE SGIG programs. See Note 4 - Regulatory Matters for additional information regarding the DOE SGIG.

Supplemental Balance Sheet Information

 

The following tables provide additional information about assets and liabilities of the Registrants as of March 31, 2012 and December 31, 2011.

 

March 31, 2012Exelon   Generation   ComEd  PECO  BGE
Property, plant and equipment:                
Accumulated depreciation$ 11,244(a) $5,563(a) $2,769 $2,691 $2,508
Accounts receivable:                
Allowance for uncollectible accounts 317   82   90  111  34
                 
December 31, 2011Exelon   Generation   ComEd  PECO  BGE
Property, plant and equipment:                
Accumulated depreciation$ 10,959(b) $5,313(b) $2,750 $2,662 $2,465
Accounts receivable:                
Allowance for uncollectible accounts 199   29   78  92  38

___________

(a)       Includes accumulated amortization of nuclear fuel in the reactor core of $1,851 million.

(b)       Includes accumulated amortization of nuclear fuel in the reactor core of $1,784 million.

 

PECO Installment Plan Receivables (Exelon and PECO)

 

PECO enters into payment agreements with certain delinquent customers, primarily residential, seeking to restore their service, as required by the PAPUC. Customers with past due balances that meet certain income criteria are provided the option to enter into an installment payment plan, some of which have terms greater than one year, to repay past due balances in addition to paying for their ongoing service on a current basis. The receivable balance for these payment agreement receivables is recorded in accounts receivable for the current portion and other deferred debits and other assets for the noncurrent portion. The net receivable balance for installment plans with terms greater than one year was $17 million and $21 million as of March 31, 2012 and December 31, 2011, respectively. The allowance for uncollectible accounts reserve methodology and assessment of the credit quality of the installment plan receivables are consistent with the customer accounts receivable methodology discussed in Note 1 of the Exelon 2011 Form 10-K. The allowance for uncollectible accounts balance associated with these receivables at March 31, 2012 of $13 million consists of $1 million, $4 million and $8 million for low risk, medium risk and high risk segments, respectively. The allowance for uncollectible accounts balance at December 31, 2011 of $17 million consists of $1 million, $3 million and $13 million for low risk, medium risk and high risk segments, respectively. The balance of the payment agreement is billed to the customer in equal monthly installments over the term of the agreement. Installment receivables outstanding as of March 31, 2012 and December 31, 2011 include balances not yet presented on the customer bill, accounts currently billed and an immaterial amount of past due receivables. When a customer defaults on their payment agreement, the terms of which are defined by plan type, the entire balance of the agreement becomes due and the balance is reclassified to current customer accounts receivable and reserved for in accordance with the methodology discussed in Note 1 of the Exelon 2011 Form 10-K.

 

Accumulated Other Comprehensive Income (Loss)

 

The following tables provide information about accumulated OCI (loss) recorded (after tax) within the Consolidated Balance Sheets of the Registrants as of March 31, 2012 and December 31, 2011:

March 31, 2012Exelon  Generation  ComEd  PECO  BGE
Accumulated other comprehensive income (loss)              
Net unrealized gain on cash flow hedges$703 $1,167 $0 $0 $0
Pension and non-pension postretirement benefit plans (2,904)  0  0  0  0
Unrealized gain on marketable securities 2  0  0  1  0
                 
Total accumulated other comprehensive income (loss)$(2,199) $1,167 $0 $1 $0
                 
December 31, 2011Exelon  Generation  ComEd  PECO  BGE
Accumulated other comprehensive income (loss)              
Net unrealized gain on cash flow hedges$488 $915 $0 $0 $0
Pension and non-pension postretirement benefit plans (2,938)  0  0  0  0
Unrealized loss on marketable securities 0  0  (1)  0  0
                 
Total accumulated other comprehensive income (loss)$(2,450) $915 $(1) $0 $0